6-22-2012 SWFloridaGuy: There should be no vacillation whatsoever with intel providers as to why we still have no rate change. We've been told so many times now when it comes to a revaluation the key factors are inflation and stability.
Shabibi, the Finance Committee, countless economists, the SIGR and even 2 reports released just today have all said this. "Applying delete zeros project depends on political and economic stability in the country. Project restructuring of the Iraqi currency after deleting three zeros were subject to political and economic stability in the country.
The Central Bank has completed all procedures relating to the three zeros deleted project local currency and wait for the signal from the Executive and legislative branches to initiate its implementation.
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The project has been delayed by Government indefinitely as a result of the political crisis in Iraq in addition to the instability of the exchange rate of the Iraqi dinar against the US dollar, saying that the project is subject to political and economic stability in the country.
" People say don't believe the reports coming out of Iraq and in some instances this would be good advice, but you must consider the source. The current political crisis has been responsible for a flurry of conflicting reports and made it near impossible to know who's winning that battle. Each side has put out their own propaganda to win the public's support.
When a report comes from the Shabibi, Saleh (CBI), Finance Committee, or a quarterly progress reports to our own Congress, that's when you listen up rather than follow the guru "any minute" hype.
The main issue is Erbil, HCL, seated GOI and announcement of the Strategic Council. Stability is key and that's not coming from gurus, that's coming from the economic policy makers whose job it is to stimulate the economy, keep the money supply growing without resulting in excessive inflation, implement tariffs/trade agreements and regulation.
The fate of the Prime Minister will be settled in Federal Court. It looks fairly certain right now that they are going to hold Maliki's interrogation. We've seen no evidence of an agreement reached and a date announced for the National Conference, which would have been the most favorable outcome. That leaves them no choice but to try to remove Maliki and follow through with the interrogation.
The request to withdraw confidence has already been submitted. If they succeed then the caretaker government will be assigned a National Alliance candidate to form a government. When this is addressed in Federal court, after Maliki appears before the council for questioning and the council issues its decision regarding the no confidence, 7 days after the submission date, the Government is deemed resigned.
Maliki and the Ministers will continue to work in their positions for that 30 day period or until a new Council of Ministers is formed in accordance with the constitution. The Council of Ministers is made up of the Prime Minister and his cabinet.
So, we hope either they already have suitable candidates lined up to fill those positions, their demands are met or Maliki resigns, Once we have stability, I see no remaining obstacles to further delay the economic reforms. As always, just expressing my opinion which may or may not be correct.