Freebird: Well, it looks like I was completely off the mark with my September prediction I've had for a year now. Just wanted to come on and man up to that.
The CBI's goal a year ago was to start introducing the LDs last month. Unfortunately, the GOI was unable to pass the oil & gas law and introduce a power sharing government which was a key component to moving forward as mentioned by the UNSC, IMF, CBI and Finance Committee.
They are moving far slower than expected (snail's pace) but they are still moving forward. Today they announced that they had a clear choice for the Defense Minister (Salem Daly) and that position should become official shortly.
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Freebird Continues: A few times now we have been extremely close on all fronts (HCL, Chp 7, Erbil etc). Those issues, with the exception of Chp 7, all need to be settled if we're to have any hope of seeing the CBI raise the exchange rate between now and January.
Meanwhile Iraq's wealth continues to grow and all sectors continue to show signs of improvement after decades of war. We'll get there. Keep the faith.
DocDinar: Iraq is the world's 3rd largest oil producer and has the 3rd most gold. They are recovering and receiving a lot of help from the World Bank and IMF in order to reap the benefits of their wealth and become an economic leader in the region.
They are currently beefing up their banking sector in preparation of entering world markets. The GOI is getting their house in order (slowly but surely), will pass the reform paper and hold a National Meeting.
It looks like Maliki is going to stay and they will reach a compromise. We are also closer than ever to a resolution on the HCL and Chapter 7. By all accounts, 2012 should be the last year we have to speculate on this investment.
Dalite: "Investigations of the CBI ousted its president Shabibi. The coming days will witness a parliamentary decision to withdraw by the province of the Central Bank of Iraq Sinan Shabibi and some officials in the bank against the backdrop of significant financial suspicions of corruption as well as money laundering and will be brought to justice."
If there is any truth, or follow through on these accusations, the CBI would face take over by the brother-in-law guild of the "financial experts" in parliament. The western world has a term for this chain of events; it is known as "Nationalization."
Maliki gets the opportunity to pilfer $67 billion USD worth of Foreign Reserves, and reprint the currency with his picture on the front. BTW, for those who wonder, this will not trigger a RV.
If this happens, the exchange rate we see today, would be a high point. Maliki can "declare" the value to be higher, but the only ones ignorant enough to believe that are members of the Ministry of Finance in Parliament.
The rest of the world won't be buying that steaming, hot, pile. We can all hope that this attempt will be the straw that breaks Maliki's Political Back. Hopefully, someone there, who realizes the outcome of this ploy, will "convince" Maliki that this is a bad approach..