LEM 4-20-2015 My Ladies: IS THERE ANYTHING TO BE EXCITED ABOUT AT ALL? THERE SURE IS. WE ARE VERY CLOSE WE KNOW THAT...WE ARE SEEING GREAT PROGRESS WITH SECURITY AND IT LOOKS LIKE THEY ARE ABOUT TO STABILIZE ANBAR AGAIN. WE ARE SEEING GREAT PROGRESS IN THE PRIVATE SECTOR, AND THE PRIVATE BANKING SECTOR.
IRAQ IS FOLLOWING THE ARTICLE 4 IMF RECOMMENDATIONS TO THE LETTER. WE DO NOT KNOW WHEN THIS IS GOING TO HAPPEN, BUT AS [GURU] NOVA AND I HAVE SAID OVER AND OVER AND OVER AGAIN...THERE ARE A HANDFUL OF ABSOLUTES IN THIS PASSIVE INVESTMENT AND SO FAR IRAQ HAS NOT BROKEN ANY OF THEM.
SO WE MAINTAIN A HIGH LEVEL OF EXPECTATION...HOLD ON A BIT LONGER...IT IS ALL COMING TOGETHER!
ClassyONE April 20, 2015 at 2:58pm The Road to Roota by Bix Weir 4/20/15
The Hidden Meanings in the New $100 Bill! Bix Weir
Poppy3 ...THEY ARE NOT STOPPING TILL THIS IS COMPLETED...THIS WILL BE THE BIGGEST FINANCIAL CHANGE EVER AND THEY ARE DOING GREAT GETTING IT DONE.
[xyz] Fed is alert to global liquidity storm http://www.telegraph.co.uk/finance/economics/11550833/Feds-Bill-Dudley-is-alert-to-global-liquidity-storm-yet-signals-3.5pc-rates.html
[xyz] Secret to becoming a billionaire: -RV- http://www.cnbc.com/id/102601878?trknav=homestack:topnews:19
okrocks : YAHOOOOOOOOOOO Daily Updates from Anbar Monday, April 20, 2015 The Anbar Police Commander, Kadhum al-Fahdawi, announced today that the ISIL threat on Ramadi has been dispelled and that life in the city is now almost normal
Highlights from DC at TNT CC Via Adept1 Today:
DC: Everything is looking well. Sorry about my voice… In Iraq, everything is looking very good, with everything promised to happen very quickly. IN the US, everyone is ready, too.
DC: I understand we have many new people listening today in various offices. This is extremely informal, off the cuff, not rehearsed, and you’ll get that quickly. In good old Iraq, remember that last week Abadi and his team were at the White House, State Dept, and IMF and all those meetings were very successful. It’s great to be on the winning team.
Those meetings secured financial and military help, with a few meetings about the RI/RV. Some concrete things have started in Iraq and we’ll spend more time on that.
What Tony and I were excited about on Friday, Saturday and today, there is a plan to open up the banks on Friday, which is unusual for the Sabbath In the Middle East. That had to be a super-special occasion.
A lot of merchants changed their currency to the lower denominations, including fils. Most of those coins are barely worth scrap metal, pre-RV, so why would they pass them out. There has been training, again on a Friday and Saturday, on the use of the lower notes and coins, for retailers.
That is very unusual for the holy day, and it hit things in gear for moving forward. They are continuing today.
Not every bank was open, but quite a few were in different areas, and they pulled people in. They are distributing notes and fil coins, and the only way for that to make sense is in terms of an RV.
On Saturday, Abadi gave a speech/statement about several things. He spent most of Saturday talking to the Council of Ministers and Federation Council as well as his reps and more folks. He gave a speech about how last week went in the IMF, World Bank and the US, and why this was such an important visit.
His speech is quoted in the newspaper, in many different websites, etc. Basically, the deficit of 25 million dollars plus the spending in ISIL are supported by the international community.
They also mentioned that ‘monetary reform will occur ‘in the coming days’, some say it is completed and the final phase is in the next few days, and another said it will happen very quickly.
It’s important to see that they are in basic agreement and we need to understand what they are doing. Cynics say that Iraqis have seen ‘coming days’ on their television for a month.
Well, this is now being said by the leader who has been fighting the natural assumption (from past history) that promises have been made without delivery, especially after Saddam Hussein and the next set of leaders. So it means a lot that Abadi is saying that in public, with the Finance and Interior Ministry officials and the CBI. It’s important that they put the pressure on.
IN the rest of Iraq, we have talked about frustration levels building in the last six levels; that is coming to a strong peak right now, and many intelligence agencies are worried that they are taking too darn long to perfect this process. They wait too long to be perfect and now that is creating problems in itself.
That’s causing a lot of worry and concern, because Iraq has waited for so long and ‘good ideas’ continue to slow down this process. You cannot keep the lid on for much long, and that is actually good because they have all seen the Arab Spring plus ISIL to deal with.
There is tremendous pressure to get this done. ISIL is being contained, but everyone is so pissed off at how long this is taking. The good news is that this is solved very quickly with an RI and/or RV. People are happy that the banks and merchants are getting ready, but the people are still concerned because they don’t have jobs or contracts aren’t being filled.
Internationally, they are letting Iraq know on a daily basis that there are hotheads and they need to get this done.
DC: In the US, banks have been on lockdown, and law enforcement/security are on alert as well. They are all asking if it is real this time.
We talked about early exchanges, and I understand that those are supposed to begin, and they are still planning that but it’s going very slowly because the banks are frustrated and unsure. They sent everyone home and said they would call them back in when it’s public in the newspapers.
Some are letting people in, and some are just disgusted – which we can all understand. Everyone is prepared for this to go through and we are ready to help then when we can. Tony and I have volunteered to educate as many people as we can with these calls and with early exchanges. We will do whatever we can to help this process along.
We are still happy to help, and understand that plans may be changed according to how this changes in DC. We just want everyone to go through as calmly and quickly as possible.
Q: Now that it seems security has improved, what else needs to happen for the RV to happen completely?
DC: Very little: tweaks to military information re: ISIL and Mosul. Those have been transferred. They have asked for a few other minor tweaks, and they just need the Council of Ministers to give the nod. Most folks just need a nod, and those occurred after they came back. Everything is on track for this to go.
Q: Are we over-emphasizing Iraq’s need for the RV? [Tony/DC: NO.]
Q: How can US not have a voice in how this RV goes out? [Too fast for me to write.]
DC: Bottom line, yes the US plays a part in this, but in the past they had more control. They have turned over most of that control, although they are still influencing things long-term in the Middle East. We will always be in each other’s business, like family. They will always have some involvement. However, the decision on timing fluctuates on how bad ISIL turns out, how well the PM is doing, and all kinds of other things. Right now, we are told there are few items they want to have polished up a little bit that came from the IMF. The US had some involvement with that list, but not a veto on this happening without. It’s not a big Machiavellian situation; they just want to get this darn thing done. The pressure to get this done is immense in the US, China, and the IMF as well as Iraq – on a short timeline, too.
Q: Will this go into June?
DC: Highly, highly unlikely.
Q: The IMF wants reduction in US voting rights, and also they want to rebalance other currencies. Is the US withdrawing their permission until their voting rights are maintained? Is the rest of the world circumventing this issue through the IAAB? [Tony is reading the questions too quickly; I cannot keep up!] Could the US withhold the RV until the voting rights issue is settled? Is that causing the delays?
DC: [Didn’t follow his answer] The IMF (International Monetary Fund) has asked for the US to lower their veto-proof 17%. This has been going on for a long time; the US keeps saying No. Is the IMF or other countries holding the RV hostage to these voting rights? No, because it’s not that important a piece. Is the start of the AIIB a way to circumvent the US? Yes, but it’s also to help the Asian economies and trade grow. The US has a lot of problems with it due to loss of influence and transparency. A lot of countries feel they have to play ball with China, who was the starting force here, and it was a little jab at the US as well. There is almost no relationship with the RV; it is a separate deal, and although China has a little influence on the RV, it’s not like the high US influence. It’s highly unlikely the US will agree to lowering the 17% and everyone knows that. Even the most anti-imperialist types on the left will not agree to that. So is the AIIB involved in the RV? Yes, a little, but not enough to worry about. No one is holding that over Iraq’s head as an ultimatum. It’s as unrelated as it can be in the same organization.
Q: When do you personally thing this is going to happen?
DC: I am supremely frustrated, because this has been in a ‘good enough’ position umpteen times and it hasn’t gone through. I understand why it hasn’t gone through, but my personal opinion is that a bunch of perfectionists who are trying to nail this so tight… and I get that… but I think you get this close enough and move along. You prepare as much as you can, you go into battle, and figure out the problems as you go along. It’s easy to be a Monday morning quarterback on this, but my personal opinion is that we are all very ready for this to move on. I’m also excited for the world with regard to what rates are going to be and how the GDP will grow in the US and the rest of the world.
Q: Can you go back over the explanation of the caps, with currency amounts and USD?
DC: About three weeks ago, there was a lot of talk and consternation about the amounts of currency available. Bank staff told their contacts that this is real (in Georgia) and they realized some locations have more than that banks can handle. Most will be managed by the banks by putting people in different cities.
For zim only, they are imposing a limit of $500 million, that over that large amount, the rest will be exchanged at the same rate but with a 50 year structured payout. They only expected at most 2,000 would have zim, but Tony opened his mouth and more people bought them – maybe ten thousand or more rather than one thousand.
For the rest of the currencies, it’s hard to get up to that number, so they are not worried about those thousand or so people who have more than that amount in each currency. With zim, quite a few people have more than that, so they will pay up to $500,000,000 upfront, and then put the rest on a payout over 50 years.
That will be inheritable, and yes, it would be good to put it into an entity. Consult with an estate attorney on that. Like any stream of income, you can divide it up however you want, give it to charities, etc. You need good financial and legal advice to deal with that amount correctly; you can change it as you see fit. Also, that could go up to a billion.
310 caller: Where do the US currency dealers get their dinar from?
DC: Most comes out of Jordan or Dubai, from currency dealers; some comes from Baghdad. They are licensed and actively audited by the US Treasury. I only bought my dinar from dealers licensed by the UST; this means they are watching for fraud and other bad things. They account for every bill by serial number and then it’s shipped to buyers.
Caller: There are 36+ million citizens of Iraq; what do they use at the grocery store?
DC: Some of them are using debit cards at the new rates, but most are using old worn out bills that are hard to use. There isn’t much currency left and it’s getting worn out. There is very little paper currency left on the streets.
Caller: Will you personally exchange your currency in your legal name or use entities?
DC: I will exchange through entities, various ones set up in different ways. You can also do that after the fact, but I did it ahead of time.
DC: The latest information we have is that you will call each bank directly and ask to make an appointment for your currency, and they will direct you towards the closest bank. That is subject to change, so have a flexible mind in this process or you will lose.
702 caller: Since the bonds have started, I hear they are cherry-picking, not flowing. If that is true, wouldn’t the RV have had to happen?
DC: We don’t hear cherry-picking; we hear they are flowing.
DC: I am not online much. Abadi did talk to many folks on Saturday, and said the monetary reform will come in the next few days, and this was repeated in the different papers and from the CBI and Finance Ministry. I think that is all Abadi or Shabibi will say and the rest we will find out afterwards.
404 caller: Most of my questions have been answered. This soft announcement that Abadi was making to various groups, did they make that into the formal announcement. Just as this call started, I was watching Iraqi television. Abadi was being interviewed for 20 minutes, very smiling and informal, and then switched over to parliament. Are those two partnered together as the soft announcement?
DC: I believe that Saturday’s announcement will be as much as we get. Parliament is meeting, but I think what needs to be solved has already been sorted out by the Council of Ministers and Federation Council.
DC: The boss said this call is over. I want to tell a quick funny story about precision in words. In my former life, I helped upload stuff from drones, and it was hard to work out how to make a surveillance drone into a targeted weapon. Anyway, the munitions guys (who love explosives) have nicknames like Boom-boom as distinct from the MIT guys who are all about kinetic energy, etc. There are a lot of safety concerns, especially the MIT engineers who have never been outdoors in their lives. So there we all were out in the NV desert, and I had to translate the MIT technicalities into bomb-speak for the munitions guys and vice versa.
Iraq is ready to go; the announcements this weekend were preliminary, and there are internal pressures in Iraq and everyone is helping them get this moving. People are frustrated all over the world, and they are pushing this through.
Positive actions have taken place like the bonds, and they are tied to getting this process moving.