10-24-12 Palladium: It is clear that the Parliament and GOI intend to clean out the CBI of everyone directly and indirectly connected to Shabibi. I also heard someone put forth a theory about the accusations against Shabibi. Shabibi has been accused of currency / exchange rate manipulation.
The theory is this. For days, weeks, and months (without end), the CBI has kept the exchange rate UNCHANGED. If the exchange rate is being held at a certain rate, when it could have and should have been changed; then wouldn't that be manipulation?
There was an article that came out yesterday that talk about the embassies abroad having false documents (what I believe to be forged bonds of some type) that were being used in the currency auctions. THIS is where the money laundering has been occurring folks!
Whether Shabibi knew of this or not, that is really no way to know. I do remember how Shabibi meet last year (I think) with the ambassadors and gave them instructions for how to get foreign investors and development for Iraq.
Read More Link On Right
Palladium Continues: Considering the forged and faux documents (apparently bonds) were coming from the embassies abroad, being used in daily CBI auctions, and a currency exchange rate that is being deliberately held down and unchanged for months and months and months and months, Shabibi would be a primary point of investigation.
I'm not saying that Shabibi is guilty of anything and I'm not saying he is innocent; but I'm not going to wear colored glasses in looking at this. Where there is smoke, there is fire; apparently at both the CBI and the GOI. This time though the Parliament is involved, and that tells me this is something much deeper and more serious than just a fight between Malaki and Shabibi.
10-24-2012 Footforward: There's not a lot of new intel out there. What's going on in Iraq is of zero consequence to us. This thing will roll as the "powers that be" dictate it to roll, look at it from a global perspective. I believe it should happen this year.
This should have happened several times already. The plan is to get it done before the election...but it could happen after the election out of necessity. I know the rate will be really good, double digits, multiples of 7. It will be a flat rate. I don't believe there will be multiple tier rates. You won't have to negotiate.
troops are there because they have moved around the lower denoms from location to location to keep them safe. They don't believe there is another secure place, so they brought in the troops to secure them & also the CBI & the borders.
It has nothing to do with Maliki & they are not there to remove Shabibi. Maliki is not the bad guy. He is there to hold down the fort & get done what needed to be done, nothing more, nothing less.
The arms deal with Russia is not what it looks like, I can't get into it, I know this for sure. He is not trying to take over the CBI. They have the means to get rid of Maliki, but they don't. Why? There must not be a problem with him.
Gambler1: If we are to believe more than one currency will RV--then that includes the Chinese Yuan. The concept is that some countries’ currencies do not really reflect their intrinsic value. One of those is China. So, politicians saying China holds the value of its Yuan down is exactly what we as investors in dong and dinar have been saying--that these currencies have to rise in value to truly reflect the assets and potential wealth of those countries. So, hearing that from the politicians last night fits right into our thinking.
Delta: There is indication that Shabibi is involved in something illegal. During the investigation, they did find something about Shabibi. He is in Switzerland. He was to come back to defend himself, but I doubt it. He knows that he can't compete with Maliki right now.
Maliki is doing whatever he wants right now. He knows our president is weak in foreign policy. All are agreeing with Maliki, even the Supreme Court, they said there is something against Shabibi. They are not telling the details.
We really don't know what is going on behind closed doors, but it seems like a serious matter. One scenario is that he may have been set up, we just don't know. Shabibi could have revalued the currency a long time ago, he waited too long & they may have set him up.
For our investment, nothing will delay the plan. We have to wait for a few days to see what happens. They know that everything is ready. Shabibi has said that everything is ready.