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Frank26: Someone sent me this….they said….Frank the name of God….God of Israel is Yahweh…and I said yeah I agree with that....in fact it is spelled YHVH in the original Hebrew form….and he says…yeah….those four letters Frank…YHVH….he sent them to me in a text and it is in Hebrew writing…..the thing about this is that in Hebrew their alphabet has a relationship with numbers….
I actually thought he was going to talk about 666 and that those numbers represented this and all that….he said….I’ve known this for a long time Frank but I’ve never told you about it…..but I thought I would tell you today…..because I feel we are close….ok…the first letter in Hebrew represents the number 10….ok…
I understand and there are four letters….the ones I just showed you…..the second letter that looks like our letter “n” represents the number 5….the third letter represents the number 6…and the last letter again represents the number 5….now add them up….the total is 26…..
I am in no way at all trying to make any innuendos Family….I give all honor and glory to God and I recognize the God of Israel to be YHVH, my God, but I will admit that I got some chills when you do the math for the name of God it comes out to 26….and I call myself Frank26 because I was conceived on February 26th….and I will be honest with you….way back when I first started….there was a number going around that was very popular and that is 386….so when you take the reciprocal….when you take 26 and you divide it by 1 it comes out to 386….
At that time I thought wow….maybe there was a reason why I called myself Frank26….if it were to ever come out at 386…..but then the Minister of Finance and the Minister of Planning got together back in 2012 and they asked the COM and Parliament…..you guys are ready to put out the budget for us…..yes….what rate are you interested in….well 1.15 to 1.17 would be good…and the two ministers responded back saying….but that was a long time ago….I kind of chuckled to myself….thinking yeah….3.86 the reciprocal of 26….
So what should we use….and they told them you should use 3.2102 and you should add 20% to that….because it has been a long time…..so when you do the math….they were suggesting to them that 1.15 to 1.17 would not be good….coming out with a float at that rate would not be good…..it might just be better to come out with a fixed rate of around 3.86…..
Now I have those articles and I am sure many of you who are students have them too….and you may say…why are you talking about this Frank….everything I do is with a purpose….it is not done on purpose….the story I just gave you about the Ministers of Finance and Planning should be applied to today.
Now I believe I have said my piece and I believe I have expressed to you belief there were three meetings….I believe I made it very clear they were very pleased up until the third day when they found out the budget was not passed…..you see those meetings were for the Monetary Reform….and when they saw there was no budget what the heck is the sense of releasing a rate….the UN Operations Rate says we are not going to put anything out on the 15th….why…..because you don’t have a budget….no comment….
It is the only logical thing….you’ve never done that before….so at the end of these three meetings….they were not too happy….Abadi to find out there was no budget…and above all things to find out it was done illegally, unconstitutionally….and I told you about the attitude of the ME….they negotiate, they barter, they fight….and that is what they did with the budget….which was a dumb move….this is a time for Monetary Reform not for stealing…..and I took you all the way up to the point where I told you that Abadi did something about this but I didn’t explain it to you because I told you I want DELTA to explain everything to you.
DELTA comes in.
DELTA: Greetings Family…..Abadi had his Tuesday meeting with the Council of Ministers and he has really proven that he is one of the smartest leaders that Iraq has had….let me briefly explain the budget process….
The Finance Minister develops the budget and they give the budget to the COM and Abadi who leads that group…..they discuss it and eventually they approve it and the next step is to send it to the Parliament….they will read it once….twice…and the third time there will be discussion and then the voting….
Now the Iraqi Constitution does not allow Parliament to add any Articles to the budget….they can basically refuse it, or refuse certain articles, they can send it back to the COM to modify some articles they don’t like…but they cannot add….but what happened this time….the Finance Committee in Parliament had a lot of discussion, a lot of arguing, a lot of issues so they started to add things and they kept adding till they got 10 or 15 new Articles added to the budget and they then finally approved it….
Then they send it to the President and he will sign it and then send it to the Gazette…..there were some groups in Parliament who did not like that….the Kurds did not like it….and Abadi did something very smart….he basically has told the people we are going to look at what Parliament has added and if what Parliament has added to the budget will be affecting our numbers and how the budget will work then we are going to take out what they have added….if the budget appears to be intact and isn’t going to cost us more money then we will let it go and the President will sign the budget and post it in the Gazette indicating that the budget has been passed.
But here is what is going on….remember we used to have like a tennis match between Maliki’s government and Parliament the budget would be going back and forth….back and forth…..and that sometimes would take 4-8 months….but Abadi is in a win-win position….by him waiting for it to get to the Gazette, first of all, if he doesn’t like what Parliament has added he will go to the Supreme Court and he is about 99.9% sure he will win to have the things Parliament added taken back out…but they won’t cancel the budget….
The Court may come back with a ruling that says that the items added by Parliament are not acceptable and they will be voided, but the budget will still be passed….and then there is that less than 1% chance that the Supreme Court will agree with Parliament and the government, the COM, will have to go along….however, by Abadi waiting until they are ready to approve the budget before he says anything it is putting him in the position where he appears ready to negotiate….
He knows where things stand, and he is a smart economist and understands it is not in their best interest to delay the budget…..when he did this I was amazed and shocked because this is one of the smartest moves to keep the budget rolling….once we see the budget in the Gazette it is then considered law….but even if it shows up in the Gazette now it will not be in effect until January….contracts and other things will not be affected by it until January….without the budget though they cannot move forward with 2017 investments….
But once again the budget does not have anything to do with the Monetary Reform of Iraq or the CBI….again the budget belongs to the government of Iraq….it does not belong to the CBI….the CBI on their website has pages that show exactly what their job description is….as far as changing the rate, issuing new notes….yes they can give their opinion to government….but back to the budget,
I really think Abadi will do the right thing, he may reject a few of the Articles added by Parliament but I don’t see him throwing out the whole budget….what he is doing with COM is a very good accomplishment by the government….I know a lot of people are worried about the budget….but don’t worry about it….Abadi is going to take care of it….this was one of the subjects I wanted to talk with the Family about…and I do have another 2 or 3 subjects to talk about.
The second subject is on the IMF….as you know I just posted some good stuff from the IMF….we all know of the meeting on December 5th and that the article came out on the 13th and there is good news there…..they are telling us they are happy with Iraq and they have lifted the restrictions from the exchange rate which is a very good thing….there are many pages to this report….one of the other good things they mentioned is the implementing of the AML….or the Anti-Money Laundering Law…..
By lifting their restrictions on the exchange rate it will help Iraq integrate internationally and globally….so it looks like a bold statement from the IMF regarding the lifting of this restriction even though we are not seeing this….it appears as something the IMF did behind closed doors and the IMF is satisfied….they still have a lot of work to do obviously….we know they are out of Chapter 7…..but when the planners implemented the Marshall Plan a long time ago they put in one last stipulation which is basically on the currency….
We all know that Iraq is a sovereign nation…but a lot may be asking why there are no western banks that are willing to exchange the Iraqi dinar….because of Article 8….and remember they cannot go international with a rate of 1182 or 1166….this is one of the big stipulations….this is why Iraq has to do a currency reform…not because of IMF laws or because of us….because they have no choice….
We all know of past years when it was thought they would delete the 000’s (couldn’t understand)…..what I’m trying to say is the currency reform has to take place no matter what because if Iraq doesn’t do this they will never go international…yes it is good for us as investors but it is also good for them as they would be able to do their own thing, pay bills, and such.
The CBI knows this and they have no other choice….40-50% of their budget is from loans from the IMF….the World Bank and others…..Allak came out from the CBI and he specifically stated that they are not going to float their currency……he is explaining there is a difference in a float and lifting the restrictions…what he is basically stating there is they will lift the restrictions from the exchange rate meaning that you will see the Iraqi dinar moving up and he stated that there would be no float….
Give me one thing that the Iraqis export besides oil….I know there are some gurus that say I can’t translate Arabic….by the way I can read and translate Arabic….they have their own translators….but I know what we bring you is good information and correct translations….the countries that tend to use a free float would be the US or Canada….countries that do many exports…Iraq and Allak are basically saying we are trying to free the currency and lift the rate….there is good information from these articles and what Allak is saying….he knows there is a lot of pressure.
The final thing I’m going to talk about is the ATM’s….we all know the CBI came out a couple of weeks ago and talked about the ATM’s….Iraq has had ATM’s even a long time ago…they have about 1,300 ATM’s….so why are these any different….because we believe these new ATM’s will only use LD’s and will not use 000’s…and think about it….why only 5 banks that will be used to start….before the end of this year….there was an article that came out that said only 11% of Iraqi’s have an ATM card…..
So many Iraqis will not come out and open up accounts unless they make the currency more effective….increase the value…..you can do all kinds of things, bring out all kinds of ATM’s but if you don’t increase the value and give the citizens some kind of incentive….so without that…the ATM’s with no ATM cards they are not going to work anyway….one of the Rafadain Bank managers stated a while back….we have the ATM’s ready and it all depends on the lifting of the 000’s because we have don’t do that inflation will start to rise…..
The project for 2017 is that when they start to introduce the LD’s….the 50, 100, 200….they should start to raise the value….I do have a confirmation that the CBI is going to increase the value before they start to introduce those LD’s…and those ATM’s they are international….and if you use them outside the fees are going to be higher….
But we all know that you will not be able to use them unless you have lifted the restrictions on the exchange rate….and what did the IMF tell us today….that Iraq did indeed lift the restrictions…that Iraq is serious and they are going globally international….but what the Iraqi’s are showing right now is that we are very close….no one knows the date….no one knows the rate…
But in my humble opinion….I do believe we should see the rate moving before the end of the year….because the IMF told us so…..even though we have the IMF contracts….this plan was set a long time ago back when Shabibi was in office…..but now they are trying to implement the plan…..so it is all good news….and for the last 2 or 3 days the CBI has been very quiet….we do believe in the next 24-48 hours we will be seeing more on the Monetary Reform….basically something is up and the CBI knows it…and we do have more than one confirmation that an official from the CBI has been releasing information to the newspapers that says the CBI is going to be lifting the 000’s from the rate….
That the currency will finally have value and the citizens will be happy about this….we know now that this is their goal and they have to start somewhere….there is tremendous pressure on the CBI and the government of Abadi….the IMF is telling them…..the removal of restrictions on your currency is freeing up the movement of capital…..we’ve talked about this Family….it is why you don’t see investors going into Iraq….you have to be able to go into Iraq and then move your profits from the dinar to the dollar or euro or whatever currency you deal with…..they have not been able to do that….but the IMF is telling them they are ready to do that…..this is all good news Family.
Finally we have known for some time that Iraq CBI was selling gold coins on Tuesdays….they would announce on Monday the prices of the coins for Tuesday sales….but my TEAMS and I noticed for the past two weeks they have stopped doing that…..this had been a tool they used to collect more and more of the 000’s…
And by them cancelling this program that shows a sign of them not needing to do this anymore…..we know they should start to increase the value before they introduce the LD’s…we know the 500 dinar will be the highest note out of the LD’s….I’ve had confirmation that the 50, 100, 200 dinars are ready….and have also heard they may introduce the 25 dinar as well….they will all have Kurdish, Arabic, and English language…again the rate has to come first before they bring out these notes….this all ties to their previous announcement about e-dinars and it looks like they are way ahead of schedule in this regard as well…..
So what we are all waiting for right now is the rate….the rate has to keep moving….do not forget the “Final Articles” thread on KTFA as well, these are good articles that keep us focused in the right direction of their intentions.
Frank: Excellent report….so Abadi is becoming quite a leader for his country wouldn’t you say.
DELTA: Yes Frankie….like I said I was surprised by his ruling…he wants to get this budget into the Gazette to make it legal….he knows if he has to take it back to Parliament it might take them a year to get it right…and by him going to the Supreme Court he may get them to cancel what was added but they cannot cancel the whole budget….so that is a smart move by Abadi.
Frank: Very smart move…and on top of that don’t you sense that the Supreme Court is willing to work in favor of Abadi’s decision instead of the actions of the ministers in adding onto the budget….do you feel that…sense that the Supreme Court is leaning in the direction of Abadi to do the right thing.
DELTA: I agree Frankie….as I said earlier I am 99.9% sure that the Supreme Court will line up with Abadi if he goes to them with the budget….remember too that Abadi is not wanting to create any problems he wants to work with everyone.
Frank: Listen…why in the world would the Finance Committee and President Masum allow these ministers to do that….do you get a sense they were just trying to satisfy them….look ok add it on….we just need to get this thing through….why in the world would they allow this….what do you think.
DELTA: Good question Frankie…they are trying to satisfy everyone…and remember I talked about this…Iraq has a number of political parties instead of like in the US where there is only two major parties and these multiple entities create problems to get to an agreement with everyone….this all was a brilliant idea by Abadi, he has gone to the Financial Committee and tried to work with them….the Committee knew they really couldn’t be adding to the budget….but Abadi has orchestrated all of this trying to make everyone happy.
Frank: I find it amazing DELTA that there is so much information….today we will be adding Article #20 to our “Final Articles” list….there is so much information and I’m not going to say it is leaking out…there is just so much information….even before the evidence comes out….this thing for example…look at the IMF…..I don’t think they are pleased with all of this being leaked out….I don’t see them giving any loans….where’s the budget….I don’t see them making any disbursements….where’s the budget…..did you raise the value…and those two are actually separate sentences but they are symbiotic….one needs the other…and just like the CBI and GOI are two separate entities….one needs the other….but I don’t see them giving them any type of loan….that is kind of encouraging isn’t it….they didn’t get their prize.
DELTA: Absolutely Frankie….they did not get the loan this time….in the past the IMF has said they would give them a loan and they got it right away….now though they are not doing things the same way….they don’t give the loan so quickly…..they are doing it over time they said and they have conditions with each loan….one of the stipulations we are waiting on now is the Financial Reform…the currency reform…and remember this Financial Reform was supposed to happen 3 or 4 years ago but Maliki stopped it for whatever reason….the IMF is looking to get paid, they are watching what Iraq is doing….they are paying them in dollars in the past and not seeing much results from their money…..they are now holding onto the money wanting to see some proof of work from the Iraqis…..they know now too that they have to listen to the IMF….if they don’t listen then the IMF will not give them the money.
Frank: There is no doubt about it they have liquidity problems…and you said the CBI has no choice but to lift the value…and I believe that based on 40% of the budget being supplied in loans….they have to supply the rest of it themselves…..and they have no choice for another reason….would you not say DELTA that the CBI has to raise the value for the investors that want to come into this country….what do you think.
DELTA: Absolutely Frankie….and you made a good point here as well….that is why the IMF put this report and I have highlighted the part….when you lift the restriction on your exchange rate then you are giving a good reading to the investors and you are telling the investors you are serious about this investment….so as an investor what are you worried about….it’s all about money….these investors when they go to Iraq and open their business they want guarantees that they will be able to move their money back…their profits taken back to their country…that is number one….and number two is they want these investments to be easy to make….
That is why a while back there were amendments to the Investment Law…and believe it or not Iraq now has one of the most powerful investment laws in the region….they are watching for the movement of capital and that becomes possible with the lifting of the restrictions on their exchange rate….the investors are outside of Iraq waiting to come in….not because of the RV….but because they will know Iraq is serious about working with them as investors in their country….these investors also want to know their money is secure in Iraq….like the US FDIC the insurance for deposits….they want something like that in Iraq…and they have that now.
Frank: The UN applies certain dues for countries based on their currency….correct.
DELTA: Yes Frankie a lot of people may not know this, but they have a great interest in a country’s currency and exchange rate because of these dues.
Frank: Do you happen to know when the next Gazette publication is going to come out.
DELTA: I know that it takes 48-72 hours to get things into the Gazette….I do know that if everything is ok…I’m thinking even with the Holidays that without any obstacle we should see it in the Gazette sometime next week.
Frank: Did you see the video I released yesterday.
DELTA: Yes it was a powerful one…you do an excellent job with them.
Frank: Did you see that I did something with my ponytail.
DELTA: I saw that you left some for me.
Frank: I did that on purpose to show that I am very committed….by making that gesture on that video it shows my dedication, my sincerity, and my promise to be kept….but more than anything else my feeling that I expressed to them at the beginning of November I told them…Family I have a feeling…and then at the end of November I told them….
Family I am at peace….so I thought I would start out by showing them a Christmas Tree and I was wrapped up with my coat, scarf, and my gloves…to show them that deep in my heart that tomorrow the IMF Operational Rates will not be put up…but at the blink of an eye they can also go ahead and put them up….especially if we get a budget…..and if that is the case they can go ahead and have the rate….but by law they don’t have to release it until three days later…which would be around the 18th of December…and even then we wouldn’t see it until the 19th because they are 8 hours ahead of us….
I told the Family keep in mind your notes with us….IOO you won’t see a rate before the 15th but we are walking into the 15th tomorrow so….I told them I don’t want to take it from the 15th to the 31st….if anything at all I’m interested in taking it from the 15th to the 25th…..because Abadi has made it very clear….
I don’t care what shenanigans you pulled on that budget….we are not going to amend anything…and the Supreme Court is going to work with me and we are going to have a budget in the year 2016 and that is all there is to it….so I believe that budget needs a new rate….and I believe the CBI is sitting in a dark room behind 6 feet of concrete screaming and yelling way to go Abadi because we are ready….and I believe in 2016 we have a tremendous hope and a tremendous chance to see a change in their value…..how do you feel about what I just said.
DELTA: I agree with everything you just said….not only a feeling….but from everything they have told us….the articles have told us so much…..2017 they say they are introducing the LD’s…..we are going to implement lifting the 000’s…and logic says the value has to go up before that…and that is why we are talking about December now….like you see all of the movement by the CBI and what has been said all of the time….follow the money…..gives you some indication that the rate will go up this month….
This is not just a feeling….not just your words….or something my neighbor told me…this is solid information from Allak…and like I said earlier too Frankie….can they not do anything for January and February yes they can but it will cause big problems for them and they know it….and the CBI knows it….the ATM confirmation by itself is enough to tell you…..all the things they have said to the citizens…we are about to increase the value….they have heard some of this for years….they are ready to just have them do something…..
Keep the UN Operational Rates in mind too just because they said they would decide on the 13th and show them on the 15th…..or again on the 29th and show them on the 31th….keep in mind they don’t have to change the rate on those specific dates….Iraq can come back on the 16th, 17th, or 18th and raise the value….then when the UN updates their system on the 29th it will show the new rate…..so do not be thinking we have to wait for the 29th to see them change the rate, this can be done before that….this is what we expect….we are very close and something has to happen…..Mookla 2017…..Mookla…this is not talking about the first quarter….this is talking about the 1st.
Frank: Real quick last Monday we talked about this bank in Puerto Rico and this person sent me a link to it…and l listened to it and picked up some notes from it…..it was a radio show and was done on Saturday….the radio show was interviewing this woman who was representing a bank in Puerto Rico and they said what is it you want to tell us…and she said…well I am authorized….I have an affiliation with the CBI and I am authorized by the CBI to do exchanges in Puerto Rico and I will be doing that and I will be collecting the 000’s for the CBI…and then the announcer says to this woman….you do know if you are lying…if your credentials are not correct the Feds will be looking for you….
And she said….I have all my credentials and authorization in order….right now we are very simply collecting people’s names, addresses, and phone numbers…and when they do raise the value we will be ready to exchange for them…and this was Saturday December 10th when this was done in Puerto Rico and I got the link and everything….but I don’t know as I kept listening to her I kept squinting, I kept feeling uncomfortable, kept moving in my seat….thinking lady will you shut up….but there is just so much of the Monetary Reform everywhere….and that is another reason for me that the CBI has no choice.
DELTA: Exactly Frankie…and one more thing before I forget….you all know Travelex is a travel exchange places you see in airports in so many countries….you don’t see the dinar in most countries in their kiosks at the airports….but in some countries you do like the UAE and other places….I forgot to tell you earlier….you can go on their site and look at a country the UK…..they show the IQD but you get a message that says unfortunately we cannot exchange the IQD at this time….Travelex is one of the companies where you can buy currency before you travel….this is just like our banks that deal in foreign currency exchanges…..but the UK is showing this now where they did not show it before.
Frank: Thank you all who have helped with this call and those who have attended the call.
Dismissed with a prayer.
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