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Gankans Chat 7/18/11 1:00 p.m. eastern
« on: Today at 02:33:01 PM »
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7/18/11 GET Chat Room:
[gankans] Follow along please...
[gankans] This is the power struggle that I've been talking about.
[gankans] June 24, 2011 BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports.
[gankans] Two pronged-plan is the key word
[gankans] Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions.
[gankans] It goes on to say....He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end.
[gankans] Some misinterpreted that this meant a LOP Right?
[gankans] Or some were just confused
[gankans] The last dominoes are about to fall
Read More button on right
[gankans] The simple answer was that they are just transitioning from large denominations to smaller ones.
[gankans] Keep following me
[gankans] In the longer term, Saleh said a re-denomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note. He said the change was inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects.
[gankans] The IMF and UN also made the same statements that the country was making great strides
[gankans] This is also what the economist are saying needs to happen before an RV can take place.
[gankans] Iraq is doing all the right things and have done all the right moves to get the DFI released, chpt. 7 released, and complete control of their country and their finances.
[gankans] That being said....Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945. The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.
[gankans] Reread that again folks!!!
[gankans] The cabinet has already approved it and sent their approval to the parliament-right?
[gankans] The answer is yes.
[tobydinar] so Rodney does that mean we are looking at a few more days---I understand what you are saying?
[gankans] tobydinar Hold on cowboy....
gankans] Now recently China has moved into the picture.
[gankans] Why would China need to support Iraq?
[gankans] Read this...
[gankans] BEIJING, July 18 (Reuters) - Iraq has asked China to set up a fund to help with the reconstruction of the war-battered country, an Iraqi government official said on Monday during a visit to Beijing by Iraqi Prime Minister Nuri al-Maliki.
gankans] Iraqi government spokesman Ali al-Dabbagh also said Baghdad was keen to get Chinese companies investing in the country, which is China's seventh largest supplier of oil last year.
[gankans] The more China is involved in the development of the Iraq, the more it shows that they are standing on their own 2 feet.
[gankans] "We are asking the China side to make a fund, for ... reconstruction and to guarantee and assure the investment in Iraq for Chinese companies," Dabbagh told reporters in Beijing.
[gankans] It also distances themselves from the global elite and US control.
[gankans] This is the power struggle that I've been talking about.
[gankans] Iraq is their own country
gankans] Recent years, the US has a stranglehold on every country they help, but the tide is turning
[gankans] Iraq will still have to repay the US, but they also owe China big for the debt forgiveness.
[gankans] All I'm saying is....
[gankans] This is good news.
gankans] It's not the intel about date and rate- sorry
[gankans] It's about seeing the whole forest
[gankans] It's vital to know that we still have a RV coming and that there is more positives
[gankans] The last dominoes are about to fall.
[gankans] Stop focusing on the date
[gankans] You all should feel extremely confident of your investment.
gankans] yield The Iraqis are headed in the right direction
[seniortour] gankans How long do you think it will be before we see the IQD traded internationally?
[gankans] seniortour There has been a lot of talk about revaluing the currency in one area and not another, and many other odd things
[gankans] The facts are....
[gankans] The IMF has to approve and present a rate.
[gankans] Not just for a group of people or a country
[elaine schembre] gankans thought that was done already
[gankans] If you understand the rules, then you understand when the currency will and can revalue
[gankans] The game is played by rules, not made up ones by me, or any guru. I don't care what the intel says.
[LadyBug47] gankans when?
[gankans] LadyBug47 It will be done when they announce it, after the IMF has approved it.
[cowboyjoe] gankans so u dont by into the their theory
[gankans] cowboyjoe Tier theory is true to a certain degree, but the currency RV is not just for this country or that one. It's for all the countries.
[gankans] Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945. The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.
[gankans] Focus on this...start here with your research folks
hanna] gankans ~ why did Dr Shabibi state that by June 30 they would revalue ? He's the only one I've trusted and seems that even he deceives us
[gankans] hanna Apparently he was wrong on the date
[gankans] I have to go
[cmc] gankans... if we watch for them to present it to cabinet and send a bill to parliament... yet we dont really know nor can we believe what is in their print... in their news...and misreporting how else will we know???
[comsec] gankans Rodney, thanks...good bye
[gankans] hanna He is told what to do- not in charge of revalue completely
[gankans] cmc Bingo! TY for saying that for everyone
[sloompy] Thank you Gankans
[gankans] Later all
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