succeeded Association of Iraqi private banks in Iraq to pull the rug out from under those who tried to harm the reputation of banks Iraqi special purpose Aobdon inadvertently untapped opportunity crisis, the central bank and its repercussions, which dropped بتبعيتها the new administration culminated in creating a gap between them and the banks are confused reforms, the new and make it wandering in Aqrarart and swift action to be overlooked.
announced the Association of private banks in Iraq for the determination of private banks to reduce the dollar exchange rate to 1180 instead of 1183.
– Gold futures ended Friday’s session just below a one-month high, after comments by Federal Reserve Chairman Ben Bernanke earlier in the week eased concerns over the possibility the central bank will begin to taper its bond-buying program in the near future.
Moves in the gold price this year have largely tracked shifting expectations as to whether the U. S. central bank would end its quantitative easing program sooner-than-expected.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rose 0. 8% on Friday to settle the week at USD1,295. 05 a troy ounce.
Gold futures were likely to find support at USD1,242. 35 a troy ounce, the low from July 10 and near-term resistance at USD1,301. 75, the high from June 21.
On the week, gold prices advanced 0. 85%, the second consecutive weekly gain.
Comex gold prices rose to a one-month high of USD1,299. 45 a troy ounce on Wednesday after Bernanke said the pace of the central bank’s bond purchases are not a “preset course”.
In the first day of his semi-annual testimony to Congress, Bernanke reiterated that the Fed will continue to maintain its accommodative monetary policy for the foreseeable future.
He added that the central bank may taper its USD85-billion-a-month asset-purchase program later this year and halt it around mid-2014.
Bernanke said the pace of purchases could be maintained longer if conditions are less favorable.
The precious metal is on track to post a loss of 23% on the year amid concerns the Fed will start to unwind its stimulus program by the year’s end.
An exit from the stimulus would deal a heavy blow to gold, which has thrived on demand from investors who buy gold to hedge against the inflationary risks of loose monetary policies.
In the week ahead, the U. S. is to publish data on the housing sector and manufacturing to further gauge the strength of the U. S. economy.
Any improvement in U. S. economic activity could scale back expectations for further easing, boosting the dollar and weighing on gold.
Elsewhere on the Comex, silver for September delivery eased up 0. 4% on Friday to settle the week at USD19. 46 a troy ounce. Despite Friday’s modest gains, silver future prices lost 2. 15% on the week.
Meanwhile, copper for September delivery rose 0. 5% on Friday to close the week at USD3. 146 a pound.
The red metal found support on Friday after China’s central bank said it was removing the lower limit on interest rates for banks, to help banks attract more borrowers.
China is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.
Despite Friday’s upbeat performance, Comex copper prices shed 0. 25% on the week.
Copper traders will be looking ahead to Wednesday’s data on Chinese manufacturing activity, amid ongoing concerns over the country’s economic – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
[xyz] Member parliamentary Finance: the exchange rate of the Iraqi dinar will see a significant improvement against the U.S. dollar 21-07-2013 01:07 PM http://www.ikhnews.com/index.php?page=article&id=93386
[Maryrose]..it appears that China looks as the US like we’re slick salesmen. They wanna see proof
[SGD3] Just a bunch of used car salesmen
[randaree] xyz ty
[gunny] Maryrose they know better based on history. We have alot of snakes with them forked tongues. Worst in the world, IMO.
[burk50] MaryRose China wanted this way back when Basl3 should satisfy imo
[calibeach] Maryrose I think you’re right, on a positive note there are positive articles this morning from Iraq which is another indicator, like the one xyz brought :cheerleader:
[Maryrose] gunny john bolton just said on Fox that if the US does so many meetings and nothing comes out of them then the US is investing alot of our integrity and loss of trust. They question if we are an honest broker!!
Read more Link on Right
[burk50] MaryRose who’s driving us in the ditch?
[gunny] Maryrose Wow! That statement says alot of things right now. It’s a shame that most of the world hates us because of the way that 550 people act based on the decisions they make. Things have to change.
[calibeach] burk50 the untouchables apparently rofl
[snowwolfsdee] Maryrose wasnt the US basil III months ago? the trip with China to Canada last minute?
[grandmajudykay] I just went back and read Jester’s post from Thursday (like he asked us to) and think the following statements may be at least part of what people think he said about the RV going before the Republic. He didn’t exactly say that (of course), but I can see how someone might assume!
[grandmajudykay] Robertprofessor] Jester Is the Republic sufficiently underway for the reset to occur any time now? [Jester] Robertprofessor I THINK THEY KNOW WHAT THEY ARE DOING AND THEY ARE READY WHEN THE RESET GOES DOWN TO GET IT DONE…
burk50] Grandmajudykay find my question last week I ask if RV can go first ,he said Yes imo
[xyz] Global banks eye Iraq but questions remain – July 20, 2013 “This is potentially a very, very rich market to do banking in,” said one Western diplomat, speaking on condition of anonymity. “Potentially.” http://www.foxnews.com/world/2013/07/20/global-banks-eye-iraq-but-questions-remain/#ixzz2ZgntD92C
[PJ27] Ok another dumb question. Basel3 is in under the control of the very people that we are supposed to be trying to get away from so How is Basel3 going to help?
[Maryrose] PJ27 it reduces their ability to steal???
[snowwolfsdee] PJ27 apparently it is so clean a system that even the good guys get their fingers slapped
[ChildOfGod] PJ27 New system won’t allow for any thievery as in the past
[gunny] PJ27 I believe that B3 is being pushed by others, that want to see change across the board.
[PJ27] Another dumb question is Bernanke the one who’s taking the fall for the Fed?
[gunny] PJ27 He will be one, IMO.
[Maryrose] PJ27 he doesn’t seem like the kind of guy to take that but I guess it would depend on how many skeletons he has in his closet
[ChildOfGod] PJ27 I don’t think it will be just one. After they spin things, it will look like normal procedure
[xyz] hmmmm auction to remember —- ··· Auctions Amount sold at auction price (US$) 83,717,000 http://www.cbi.iq/index.php?pid=CurrencyAuctions
[xyz] Chinese economy set to turn around, no hard landing: Finance minister – 21 Jul 2013 . Lou Jiwei denied that the China was entering a crisis period, adding that he believed growth could even accelerate. …speaking on the sidelines of the G20 conference on Saturday, saying he expected China’s economic growth to end the year at 7.5 percent, the official target rate. http://economictimes.indiatimes.com/news/international-business/chinese-economy-set-to-turn-around-no-hard-landing-finance-minister/articleshow/21213765.cms
Maryrose] xyz that’s encouraging
[gunny] xyz Yes, The Chinese are doing things financially that they have never done before. Interesting? Hmmm
[RFrost] A very interesting article in NY Time on how Banks and investment firms are making money on storing metals. Sneaky, creative and we of course are paying more for the game. . http://www.nytimes.com/2013/07/21/business/a-shuffle-of-aluminum-but-to-banks-pure-gold.html?pagewanted=all&_&_r=0
[gunny] RFrost Just goes to show you that you can pretty much hedge anything.
[heyu288] gunny with one exception…. the RV roflmao roflmao
[gunny] heyu288 There you go!! Whoo hooo!!!
happydave1] The World Economy is Saved!!! By Dene McGriff http://blog.world-mysteries.com/science/the-world-economy-is-saved/
[RFrost] happydave1 Well, its about time something got saved. Lol
[happydave1] RFrost small article but good not sure if posted before or not
[xyz] hmmmm auction to remember —- ··· Auctions Amount sold at auction price (US$) 83,717,000 http://www.cbi.iq/index.php?pid=CurrencyAuctions
[BOBGETZ6] xyz . How are you this morning and what is your take on the much smaller auction?
[xyz] BOBGETZ6 seems low …. check these snapshots – . http://web.archive.org/web/*/http://www.cbi.iq/index.php?pid=CurrencyAuctions
[BOBGETZ6] xyz If this is not done by tomorrow morning, I am taking leave for awhile and doing something productive, like working.
[xyz] BOBGETZ6 the patience is running out of many of us.
BOBGETZ6] xyz Wasn’t the last currency auction you posted like $100 million more dollars? I am not real knowledgeable in that realm but I do understand that they want the dollars off the street. Does that smaller number mean less dollars available?
[xyz] BOBGETZ6 not sure …we need to see values for next few days IF …MAYBE it was TOO hot to do much auction
[BOBGETZ6] xyz Yeah, right.
[xyz] Lagarde: G20 talks ‘very constructive’
[xyz] G20 wary of scaring markets, promises careful policy shift – Jul 20, 2013 A final draft communiqué prepared for G20 finance ministers and central bankers meeting in Moscow said an action plan to boost jobs and growth, while rebalancing global demand and debt, would be readied for their leaders in September. http://www.reuters.com/article/2013/07/19/us-g20-russia-idUSBRE96I00120130719
[xyz] US Treasury Secretary Lew in Greece for talks . U.S. Treasury Secretary Jack Lew has arrived in Athens to discuss Greece’s efforts to overcome a deep debt crisis. Greek officials say Lew is meeting with Finance Minister Yannis Stournaras and will later on Sunday meet Prime Minister Antonis Samaras at the Acropolis Museum. Samaras is due to visit the United States in early August, where he will meet President Barack Obama. http://hosted.ap.org/dynamic/stories/E/EU_GREECE_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-07-21-06-30-39
[Dnari13] “Harry Browne’s “Permanent Portfolio” of investing 25% in each of four asset classes is designed to incorporate four general stages or cycles we experience in the economy. Those four cycles are: prosperity, recession, inflation, and deflation. Years ago, Browne advocated investing 25% in stocks, 25% in cash, 25% in gold, and 25% in long-term treasury bonds as a way to cover each of the four economic stages.”
Dnari13] That Permanent Portfolio returned a profit during the great depression
[Dnari13] and the 2009 madness
[Dnari13] stock market
Dnari13] investment strategy…Richard Mayberry is an economist that follows that talks about among others.
[Dnari13] sunny check out http://www.chaostan.com/
wealthbuilder] mailboxmoney why do you think this is taking so long they will have a democracy the people will be taken care of and they will have a military so no war will happen once the people are taken care of and who is gonna mess with the us and the un once iraq id a full member
[[fishon] wealthbuilder Great point!
[mailboxmoney] . just listening to all intel and think we are very close!
[wealthbuilder] the citizens are the ones that are bombing and killing because their gov isnt doing their job once that is done iraq will be the best place to invest in the world remember the rv is just the beginning of the money to be made in iraq
Studmuffin] MUSIC Zip-A-Dee-Doo-Dah Zip-a-dee-doo-dah, zip-a-dee-ay….. My, oh my what a wonderful day!… Plenty of sunshine heading my way…. Zip-a-dee-doo-dah, zip-a-dee-ay…… Mister Bluebird on my shoulder…. It’s the truth, it’s actual….. Ev’rything is satisfactual…. Zip-a-dee-doo-dah, zip-a-dee-ay…. Wonderful feeling, wonderful day!…
arizona49] [7/20/2013 5:27:32 PM] AGENT007: Some solid advice for us all:From I4U: [wittsend] As a practicing attorney for 33 years, I’ve learned a few things.
One, no need to be in a hurry once you exchange your currency.
Two, ask the bank, be it WF or any other for some help in setting up you initial accounts to maximize you ability to protect it from computer hackers.
Three,the world isn’t going to collapse economically anytime soon, so you have time to assemble a team to help. The bank can be helpful, a local bar association or CPA association can be helpful. The point here is you have time, and now you have money, to get the team on board. TAKE THAT TIME.
Four, do not be afraid to shop for an attorney or CPA or investment counselor. Ask friends, particularly those with resources, both financial and intellectual, who they use to help them. there is nothing better than to get a recommendation from a trusted friend.
Five, don’t be afraid to ask the state bar association or CPA licensing authority to determine if they have ever had an ethical violation(s). If they have, don’t use them.
Six, stay informed about world and national events, do not continue to be a low-info person.
Seven, relax and enjoy the ride. If your professionals are helping you and you are keeping your self informed, you should be able to enjoy your then current economic situation. But above all, don’t listen to the peeps here or anywhere that tell you that the sky is falling tomorrow and you better have everything figured out today. You have time, take it one step at a time, and be careful and methodical with how you handle it.
Boy you guys are fast. I tried to quick create a post and then hide it until it was finished, but some of you saw it.
As you are all aware, we do not post updates just for the heck of it or chats so we can satisfy our paying members, oops, this is a free site last time I looked. :)
I would like to share some information regarding our investment. Take this information and share it, bash it, trash it, make fun if it, or whatever you wish to do with it, but regardless of your intentions, we are only sharing what is passed on to us by our contacts.
Read More Link On Right
I did comment in several posts regarding why this has not happened yet, and I think it is very clear that other sources other than Iraq has something to do with the outcome. For example, there was a post asking what is next or who has the final say. I responded by saying the IMF.
I appears that the comment was factual. Also, no one really knew what agencies prior to this was required for a final approval.
Sort of like a chain of commands, you have to accomplish x,y,z and then when each accomplishment is achieved, then and only then does it go to the next level.
Our goal is to say very little but make what we do share count regardless of any outcome rather it be about a date of this event or rate of the investment. Please remember, we are not TerryK, or the new want to be Tony (by the way was a part of this site from the conception).
We are about sharing what our sources are hearing and being told.
If you put this into a real perspective, you really only have two (2) choices. You either believe at some point in time in your lifetime that what you purchased will increase in value, or you just spent money on something you would rather bash and trash and not have any faith.
For those that have elected in the second option I will tell you that all of the daily predictors that it will happen any day caused this.
For those that do believe in this realize that at some point in time that Iraq will have to have a currency worth more than what it is now to achieve economic status as an Icon or leader in the economy.
Now we need to move on to the good stuff. A member did verify that the IMF had final approval. Come to find out, this was spot on.
Here is some awesome news from Ray and his contacts, (by the way, confirmed for several other sources):
Ray: Steve, Was talking to a contact of mine in Baghdad and got the following info. He said, according to various media reports, that the World Bank gave their approval to the CBI for the revalue.
He also stated that the IMF gave their approval yesterday. He also stated that an area is being built in Baghdad for the media that is coming for some big announcement being made sometime next week.
He also said that there are banking officials from various countries that are constantly coming and going to the CBI. The people are still being told daily that the rv is imminent.
I know a lot of people are saying that the UN will be making the announcement of the rv. I remember Maliki saying a few years ago that he would be the one making the announcement. Maybe this is the time, finally. I hope to have more news in the next few days. Blessings. Ray
Steve: I also remember Maliki wanting to announce this event and I have it in print but need some time to search for in my archives.
It does appear that we as investors in this country are closer than ever. I refuse to say (unlike the others) that it will be next week, or the week thereafter, but I can assure you, it will be in the very near future.
All I can do is pray that you all just let it come to you and be excited when it does.
Listen up, if Iraq does not do what they agreed to they can and will be moved from Chapter VI back to Chapter VII. I think they get the message. Until then, you are all in my prayers.
Please do start preparing for the next chapter in your lives. God Bless each and every one of you. SteveI
Steve: Now what you all should be aware of, do not believe the negative press. We are on the right track. Blessings, Steve
expect more, on 20 Jul 2013 – 5:45 PM, said: Good evening All,
I seldom post, mostly, because there is a plethora of really smart people on this forum. Additionally, this is an investment for me and I only get excited when an investment matures.
I really support everything Steve and Ray are alluding to.
I have a contact in the US Treasury that told me that an RV would not occur without the IMF signing off. My contact carries significant weight with me.
For clarity, I am professionally involve in the banking and financial services sector on a domestic and international basis. I made a phone call to my contact from Treasury, (moments ago – this person is a personal friend) and the response was it is eminent and has been since the lifting of the Chapter 7 but now the steam is mounting and the pressure to get the Dinar revalued is very high outside of Iraq and the PD (hehehe).
This person told me about the lifting of the Chapter 7 before it happened and what the vote count would be. My contact was clear that without IMF approval no RV would take place.
I also am hesitant to post because people often want verification and proof. Few realize, that nothing is ever for sure. If I pass tomorrow a RV on Monday would mean nothing to me. Besides, this is the Middle East and stuff happens.
All that being said, it would be a good idea for you to “expect more” the coming days. It would also be a good idea to remember to breathe it help keep perspective.
Steve and Ray I appreciate your hard work you guys are Rock Stars expect more
Steve: Thank you for the kind words. Your comments are so spot on and true. It is what it is and we let the rest determine the facts of not believed. Blessings Steve
jpr108, on 20 Jul 2013 – 7:09 PM, said: Wow, What a great update! Thank you Steve and Ray for always bringing us honest, factual information. It is always appreciated. fyb
STEVE: You are very welcome. All we can do is share regardless of the outcome. We will not promote a false hope, but rather, get ready for the next phase of your lives. Blessings, Steve
A significant decrease in sales of the Iraqi Central Bank in a meeting Sunday
Baghdad / Mesalla: the central bank auction record for the sale of Iraqi currency, Sunday, a remarkable decline to 83.717 million million compared to $ 348.87 million million recorded in the session on Saturday, a stable exchange rate at 1166 dinars per dollar. 1166 dinars per dollar.
The bulletin of the auction that the Bank of aggregate demand on the dollar distributed by 20.45 million million in cash and $ 63.267 million million in the form of the form of remittances fully covered by the bank foreign exchange rate was 1179 dinars per dollar, including the central bank’s commission of 13 dinars per dollar, while the the cash purchase price of U.S. $ 1171 dinars.
The bulletin indicated that the demand for the dollar dropped significantly due to lack of contributing banks at the central bank auction where he participated in today’s session, only 21 banks.
The Iraqi central bank held six sessions a week for auction sale and purchase of foreign currencies, starting from Saturday to Thursday.
7-20-13 DebTarHeelGirl: (Q. Can you explain again how the Recap bank group is free, and also that when the appointments are booked it locks in the rates?)
A. There is no such thing as a “recaps bank group” that’s wrong terminology- the instructions we will send to Recaps is a FREE INVITE to ALL to call the 800# to explore their rates as the Private Brokered purchase of the dinar thru this offer is slated to have the HIGHEST rate going.
When you get the Instructions, call the 800# and set an apt 2 days out – in the meantime research the rates at all the other banks, then go to the WF appointment and compare… your choice.
The word group is not necessary for the FREE PRIVATE EXCHANGE – again it’s an invitation for you to see if you like their rate and decide to use them – again the FREE exchange is NOT a group rate is open to ALL FREELY!!!
The Wells Fargo FREE private exchange is FREE – no names necessary no signing up on a list – just take the instructions call and set an appt – that’s it. Hearing rate is GREAT.
7-20-2013 TerryK: I think it’s going to show Sunday and still be in the bank Monday… I’m really excited about this weekend.
21-07-2013 01:34 PM
Orbit news –
Announced that the Association of private banks in Iraq for the determination of private banks to reduce the dollar exchange rate to 1180 instead of 1183.
said President of the Association Adnan Chalabi (morning): The move comes as part of the pursuit of private banks to support the policy of the Iraqi Central Bank to stabilize the exchange rate .
and added that the bank Baghdad and Assyria the first initiative to reduce selling prices and will start Sunday sales depending on price new hope from other banks follow suit.
pointing out that the reduction process first adopted by most of the private banks have contributed to reduce the price of commercial sale and brought back to the prices of natural.
Chalabi pointed out that the stability of the exchange rate will lead to problems of all problems related to distressed debt and also make it easier for borrowers to pay premiums according to preliminary calculations.
said at the conclusion of his statement that private banks working to strengthen the government steps in achieving sustainable economic development.
Baghdad (news) .. Predicted a member of the Finance Committee MP / coalition of Kurdish blocs / Dler unable, improve the exchange rate of the Iraqi dinar and significantly against the U.S. dollar after the necessary measures taken by the central bank and out of Iraq from the provisions of Chapter VII.
He is capable (of the Agency news): that the central bank will take measures and new controls support from which the stability of the exchange rate of the Iraqi dinar against the U.S. dollar, which would be a correction of the errors that occurred by the bank during the last period which led to the depreciation of the dinar.
He added: out of Iraq from Chapter VII internationalist and will contribute significantly to support the exchange rate of the dinar because it would stimulate trade and economic movement of the country with various countries of the world and therefore will reflect positively on the exchange rate of the dinar against the hard currencies.
It is noteworthy that the central bank announced its intention to take measures and new regulations for the sale of hard currency to support and stabilize the exchange rate of the Iraqi dinar against the U.S. dollar.
And witnessed the exchange rate of the Iraqi dinar declined severely over the past few months, generating a great upheaval in the domestic market. / End / 8.’s. M /