7-20-2013 Kaperoni:   Article: “Deletion of zeros: the will of the state unit condition”

IMO, I feel the “delete 3 zero” or “lift 3 zero” is a two part event. Before they can do this, they must raise the value first (otherwise it makes no sense). So we expect the float to occur (accept IMF Article VIII), then as this article says..Dec 2013 they can declare “officially” they have deleted the zeros and start Jan 1, 2014 by implementing the “law of indebtedness” and issue smaller bills, etc. when the rate reaches 1 to $1 or about.

 

Saturday, July 20, 2013 14:16 Higher sales of central bank dollar at auction Saturday

BAGHDAD / Baghdadi News / ..

sales rose Iraqi Central Bank of the dollar, Saturday, at an auction sale and purchase of foreign currency on Saturday to 348 million and 870 thousand dollars after it reached on Wednesday, 283 million and 553 thousand dollars a stable exchange rate was 1166 dinars per dollar.

He said the central bank governor Agency Abdul Basit Turki said in a statement received / Baghdadi News / copy of "The demand for the dollar distributed by 33 million and 500 thousand dollars was sold in cash, while the value of the amounts sold form of remittances 315 million and 370 thousand dollars select price b 1179 dt per dollar, and the cash purchase price of $ 1171 dinars. "


And participated in the auction currency today 22 waged, banks and ruled out the amount of 92 million and 120 thousand dollars from banks participated in the auction for the purposes of auditing and other services related to combating money laundering as well as for various other reasons.

http://albaghdadianews.com/economy/item/35630-AEbJAI-LBnIAb-AkBlK-AkLEKen-Ll-AkDNkAE-Jn-LeAD-AkYOBb.html

Memphis Responds & Replies to Members in Regards To Previous Post LINK

Lori wrote on July 19th, 2013, 8:59 pm:  Memphis, thanks for bringing clarity, I look forward to your posts. :handshake2:

Memphis:  Lori?  you’re welcome. :pompom:  THATS why I do it……clarity.

BUT…..I see two things here that I have missed (actually a BUNCH that time wouldn’t allow) and I want to speak (not so) briefly about them:

1) I mentioned in tonight’s post that the attached photo ought to be studied. Studied in that it speaks it’s own message, that these leaders are not “fixin to” find agreements. What I failed to state on this point is the opposite, the other extreme! I LOVE speaking in extremes because in so doing? We find….balance….

By that, I mean….

Read More Link On Right

  Ask yourself what type of photo WOULD we expect taken at a press release and featuring two men who are in the throws of a very very difficult negotiation that is fraught with political peril on all sides, vast ethnic differences, years of name calling etc, OTHER NATIONS breathing down your neck to “do right by them”, and on and on…

I submit that the photo would have yielded two very steely faced men, both intentionally (and purposefully) absent of ANY visible emotion, fists clinched or at least turned downwards, a very conscious effort not to look directly AT the other ‘party’, and the list goes on.

 Keeping all THIS in mind, a further review of the photo should add to our understanding of it’s….value.

So I conclude that THIS photo is in fact very intentional, deliberate (in every aspect) and carefully designed to convey a message to the world that these two guys are walking side by side in agreement and seeking the path that leads to convergence, solution and conclusion. The Oil and Gas Law? It’s just coming along for the ride.


As Solomon said, there is a time, a season, for every purpose under Heaven and the present is the prescribed time for Iraq to make, sign and implement agreements. The article itself even hinted strongly at this in one of it’s quotes that stated:

“…The heads of Iraq’s political blocs must take advantage of the political calm that followed…”     It is the “season”. :popcorn:

2) In an effort to help round out the significance of the Oil and Gas Law, and the significance of the article that I spoke to earlier, here is part of a recent post that speaks to it. Many will have missed it the 1st time thru and for others, it is worth reading again. :thug:

This link will take you to the posting in the Skull Crushers Think Tank and dated July11 and titled:

“this momentum is not going to be broken…”

FULL POST HERE FOR YOUR CONVENIENCE:

By Memphis » July 11th, 2013, 7:13 am   •  [Post 1] 

kaykay3 wrote on July 11th, 2013, 12:27 am:

That’s what I’m thinking I’m very confused to what Eagle 1 said and Frank said he agreed but says we need to see these laws passed and Barzani come back happy plus this HCL and maybe Delta to come on next weeks cc so I don’t know I’m very confused but then also look at forex like Eagle was saying tonight would most likely see it there 1st then Frank says start looking at forex so :yikes:

I’m very thankful for what Eagle 1 and Frank brought us tonight just confused because they kinda seemed to agree but From what Frank is saying didn’t seem to mesh at all probably just my mind can’t make sense of it?

Memphis:  Hi KayKay,

Very soon you will see that there is no need for confusion! This stuff is actually quite simple once we learn what to follow. MUCH of what we read and much of what we hear is just noise. Follow the big ticket items and don’t allow yourself to lose sight of them.

Although I missed much of the Wed CC, I caught some of the references that you refer to above and was cheering for Frank when he made these statements but sadly he felt constrained and did not “connect all the dots” for folks. Thankfully, I feel no such constraints and my contract clearly allows for such liberties as I am about to take! :pompom:

With that introduction let’s roll up our (mental) shirt sleeves and dig a bit deeper….

In preparing to post a reply to your question I discovered that someone beat me to it! So before I give you my thoughts anyway (LOL) let’s L@@K at the (very good) answer given by “aunderdu”:

By aunderdu » July 10th, 2013, 11:39 pm • [Post 131]

When he [Frank] says that what he is saying is: If you see the HCL they will no longer be able to conceal the rate because the rate is used in the calculation of the citizens share of the Oil revenues. This does not mean that you have to see the HCL first. The rate is the first domino that will tip the rest of the economic “dominoes” over.

Iraq’s legislature has been passing lots of laws lately. Just when things were getting good tho they announced a break!  “Ummm, we’re gonna take a week off here guys, see ya on the 16th.”

That seems like a really significant thing to me. Why? Well they have been very public about a lot of pending legislation that is about to be made into law and among these bills is the oil and gas law. They even tell us shamelessly that this particular bill has been up on a shelf for years collecting dust due to political posturing!

My full expectation is that July16 will see some historic legislation and as “aunderdu” has stated above this stuff NEEDS to have a value prescribed to it. The re-pricing of the dinar NEEDS to precede this bills enactment. Without the RV, it just goes back up on a shelf as it has no…….power.

Does THAT scenario fit the climate that is coming out of Baghdad? nope. Everything is full speed ahead and this momentum is not going to be broken. I stake my reputation on that! [hmmm, that sentence was intended to carry a punch to it but I recognize that it fizzled….oh well, you get the idea….]

To be clear, I speak only for myself here. Having made that disclaimer, I am L@@King for the dinar to have a new value prior to parliament coming into session next Tuesday. I think it more that a coincidence that they have this week off. I would (paraphrase) that a conversation something like this took place under the dome:

“Ummmm, you guys? Take next week off. There are many things falling into place but timing is critical on some of this stuff. We are putting the finishing touches on it now and if you’ll come back on Tuesday, ready to rock-n-roll? Things will all be in place and we’ll get this party started. As Turki said a few days ago, there are gonna be some surprised folks.”

As to the timing of this stuff? That’s all semantics. Do you (or I) really care? Ever since they went public with the Ch7 news this has all been a foregone conclusion. I believe the IQD will have a new rate very soon and it SHOULD be known publicly (IMO) prior to next Tuesday. This investment has thrown some curves. I have been “all in” since the 27th and yet NOTHING to date? LOL

Despite our failed projections of the past, I see no way for them to get out of this one. IF, IF you read a headline:  “Oil and Gas Law Passed by Parliament!!” Then get your shoes on…

Not everyone in the dinar world will agree with me here but we can’t all be right. true? :boxing:

And having said that? you should know that many people (much smarter than I) share the same opinion… :pompom:

Memphis note: It seems worthwhile to state that this event IMO is much bigger than Iraq. Without seeming disrespectful, the Iraqi parliament are not TRULY the players in this! I hesitate to even go here in that I know people get confused but in reality?

These decisions are being made on a much larger stage. Iraq is simply fulfilling all that is required of them and therein lies the timing issues that I referred to above…

There is tremendous leverage being released in the world of finance. This leverage is likely on a much grander scale than even I imagine it to be! The dirty truth is that in the final analysis? It’s all about money. :handshake2:  Blessings,  Memphis

************************

INVESTDEAN wrote on July 20th, 2013, 3:24 am:  Hi, just thinking out loud, when they do start to exchange the dollars for the new low denom dinar it would be nice and easy to exchange one to one there for the exchange rate would need to one to one,

 so if and once it gets to that exchange rate by removing the three zeros at that point they could peg to it at that rate for how ever long is needed till all doller/dinar exchanges have been done and then move the rate up when needed to the rate of the ninties.

Maybe I am way off with the thoughts above but I thought that was how the exchange was to happen, maybe I have missed something and if so please set my mind straight.

I am glad to see that Frank is making a good recovery and would like to wish you and Tink the best for the future….   Dean….

Memphis Reply:  Dean, One of the paths of thinking that I have followed lately is that there may be a rate introduced that would suffice to easily encourage most people to surrender their IQD for exchange and then a much higher rate will be introduced that would more closely approximate the dinars true “intrinsic value”.

This is only a theory and certainly nothing to make into a doctrine tho!

I base this line of thought on the premise of just one word that will prevail in the end….

“GREED”

When we consider the resurgence of urgency in the implementation of Basil III in the past 4-6 weeks we need to ask why. Why so much energy and effort into a plan that has sat on the shelf for years and had been postponed until 2015 (or later) ……until recently?

Basil III has a new provision that allows banks (FOR THE 1st TIME) to factor their foreign currency reserves into their balance sheets, they can count it as any other M-zero asset just like USD.

This is MOST significant and IMO is ENTIRELY (can I shout a word in typing?) ENTIRELY the reason that Basil III is all the rage across the entire western world!

The banks are about to receive an unprecedented windfall in foreign currency deposits. They will effectively then be able to (for the first time) meet the new capital requirements OF Basil III and then by extension (to actually make my point to your thinking here DEAN) I would argue that it is pure greed that would bring about what is in my opinion the true rate, the true value of the dinar.

This higher rate could easily approach 3x what we receive upon exchange.

Again, just thoughts and NOT a doctrine of mine by any means!!  Memphis

7-19-2013 Poppy3:   HERE IS A BRIEF UPDATE ON NEWS FROM IRAQ BUT I AM NOT SURE AND DON’T BELIEVE IT HAS ANY EFFECT ON OUR NEEDS. IT WAS REPORTED TO ME THAT THEY ARE TRYING TO BECOME A FULL MEMBER OF OPEC AND FROM NEWS TODAY THEY HAVE BEEN TRYING FOR SOME TIME TO DO A DEAL WITH OPEC TO BECOME FULL MEMBER BUT THEY HAVE NOT BEEN VOTED IN AS OF YET??? IT IS SAID TO BE DEPENDENT ON PART OF THE HCL LAW FOR THEM TO HAVE A TRADABLE CURRENCY AND TO ALSO BECOME FULL MEMBER OF WTO. I PERSONALLY DON’T SEE THE CONNECTION BUT I AM NOT FAMILIAR WITH OPEC RULES AND REGS.

I WAS ALSO TOLD ALSO THAT PEOPLE ARE IN THE STREETS PROTESTING AGAIN . THE BANKS ARE ALL SHUT DOWN FOR FRIDAY SAT AND SUNDAY AGAIN. THEY ARE SAYING FOR HEAT YET AS OF YESTERDAY IT WAS COOLER THAN ANYTIME IN THE LAST 9 DAYS AND PREDICTED TO STAY COOLER ALL WEEKEND LOL, LOL.

Who determines the value of the dinar exchange market or central bank beautiful and Shorja?!

Saturday , July 20, 2013


Pat Iraqi citizen in concern due to the instability of the value of the dinar against the U.S. dollar in particular dealers in the market, despite assurances from the central bank on the strength of the Iraqi currency.

And that we see today that the talk does no good theoretical and the victim is always the Iraqi citizen.

Bank confirms that the policy summarized maintain the exchange rate of the dinar against the dollar, and that the operations of the decline in the value of the dinar caused by a defect in the exchange,

and accused the regional countries working on Khalkhh the Iraqi economy to offload its market of its financial strength and the corridors of free trade in Iraq is becoming the means adopted to sabotage the economy.

On the other hand, we find that the statements of the Finance Committee and parliamentary government officials confirm that the regional situation is one of the reasons for the instability of the value of the dinar.

In front of those words and assurances that the central bank sees the citizen through his experience and his dealings with the dollar that influential in the market (beautiful and Shorja),

most of them politicians or who run their business on their behalf, are the ones who control the value of the dinar and the current crisis between politicians is one of the factors in the swing value cashed Although of sale Atarmen auctions by the central bank that acquires it private banks associated with these politicians in order to collect the dollar and savings for the implementation of political agendas.

The last joke announce politicians that the exchange rate of foreign currency against the local currency will stabilize in the month of Ramadan because food Chiraly decline in their and the month of Ramadan in the summer and differs from winter to provide agricultural products and fruit in Iraq,

leading to the lack of rising food prices significantly , in addition to the Advertising Department of Commerce for providing citizens with extra rations to the ration card items, has stopped a little bit of high food, but merchants and influential in the market cautiously Stay tuned for truth claims of the Ministry of Commerce and is it actually able to provide the citizens?

We have started approaching the end of the first third of the month of Ramadan and a large number of families did not receive the promised quota. We look to the Ministry of Commerce to fulfill their promises this time and received quotas in a timely manner in order to prevent traders and Almentvven of food monopoly and raise the price.

Believe that the exchange Asagrar of the dinar against the dollar is no longer, however, the Central Bank of practice, but through a political agreement in the Shorja market and beautiful when you share the spoils among themselves.

http://kitabat.com/ar/page/20/07/2013/14500/من-الذي-يحدد-قيمة-صرف-الدينار-البنك-المركزي-ام-سوقي-جميلة-والشورجة-؟.html

– The U. S. dollar was lower against the yen on Friday, as additional comments by Federal Reserve Chairman Ben Bernanke before Congress on Thursday weighed on demand for the greenback.
USD/JPY hit 99. 81 during early European trade, the session low; the pair subsequently consolidated at 100. 00, shedding 0. 42%.
The pair was likely to find support at 99. 04, the low of July 17 and resistance at 101. 19, the high of July 10.
In his second day of testimony on monetary policy before the Financial Services Committee in Congress, Bernanke reiterated that monetary policy will remain highly accommodative, even as the central bank starts to pare back its bond buying.
On Wednesday, Bernanke said the central bank expects to start tapering bond purchases by the end of the year, but added that there was no “preset course. ”
He added that the bank’s bond purchase program could be tapered at a faster pace, slower pace or even temporarily increased depending on economic and financial developments.
The yen was higher against the euro with EUR/JPY slipping 0. 23%, to hit 131. 37.
Trading volumes were expected to remain light on Friday, as no U. S. data was scheduled to be released throughout the – 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.

– The euro trimmed gains against the U. S. dollar in subdued trade on Friday, but remained supported as recent comments by Federal Reserve Chairman Ben Bernanke weighed on demand for the greenback.
EUR/USD pulled away from 1. 3151, the pair’s highest since July 17, to hit 1. 3123 during European afternoon trade, still up 0. 10%.
The pair was likely to find support at 1. 3052, the low of July 16 and resistance at 1. 3026, the high of July 10.
In his second day of testimony on monetary policy before the Financial Services Committee in Congress, Bernanke reiterated that monetary policy will remain highly accommodative, even as the central bank starts to pare back its bond buying.
On Wednesday, Bernanke said the central bank expects to start tapering bond purchases by the end of the year, but added that there was no “preset course. ”
He added that the bank’s bond purchase program could be tapered at a faster pace, slower pace or even temporarily increased depending on economic and financial developments.
Earlier in the day, official data showed that producer price inflation in German was flat in June, confounding expectations for a 0. 1% downtick, after a 0. 3% decline the previous month.
A separate report showed that house prices in Spain fell by 2. 4% in the second quarter, following a 0. 8% decline in the first quarter.
The euro was lower against the pound with EUR/GBP slipping 0. 13%, to hit 0. 8599.
Also Friday, official data showed that public sector net borrowing in the U. K. fell less-than-expected in June, declining to GBP10. 2 billion from GBP12. 8 billion the previous month.
Analysts had expected public sector net borrowing to fall to GBP9. 5 billion last month.
Trading volumes were expected to remain light on Friday, as no U. S. data was scheduled to be released throughout the – 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.

– Canadian core consumer price inflation fell less-than-expected last month, official data showed on Thursday.
In a report, Statistics Canada said that Canadian core CPI fell to a seasonally adjusted -0. 2%, from 0. 2% in the preceding month.
Analysts had expected Canadian core CPI to fall -0. 3% last – 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.

– U. S. stocks opened lower in subdued trade on Friday, as investors were eyeing a fresh batch of earnings reports, although recent comments by Federal Reserve Chairman Ben Bernanke still supported.
During early U. S. trade, the Dow Jones Industrial Average fell 0. 34%, the SP 500 index shed 0. 32%, while the Nasdaq Composite index tumbled 1. 14%.
In his second day of testimony on monetary policy before the Financial Services Committee in Congress, Bernanke reiterated that monetary policy will remain highly accommodative, even as the central bank starts to pare back its bond buying.
On Wednesday, Bernanke said the central bank expects to start tapering bond purchases by the end of the year, but added that there was no “preset course. ”
He added that the bank’s bond purchase program could be tapered at a faster pace, slower pace or even temporarily increased depending on economic and financial developments.
In earnings news, General Electric said earnings came in a penny higher than estimates, sending shares up 3. 22%.
Honeywell added to gains, jumping 1. 42% after the diversified manufacturer posted better-than-expected earnings and lifted the low end of its 2013 outlook.
In addition, Schlumberger rallied 4. 03% after the oilfield services company topped earnings expectations as drilling activity outside North America touched a 30-year high.
Elsewhere, Microsoft plummeted 9. 48% as the tech giant reported after the U. S. close on Thursday that fourth-quarter profit missed analysts’ projections by the biggest margin in at least a decade as demand weakens for personal computers running Windows.
Google plummeted 3. 21% after the Internet company reported second-quarter sales and profit that missed estimates as mobile advertising crimped average prices.
In company news, Time Warner Cable said it’s balking at renewing an agreement to carry CBS’s broadcast network on its pay-TV system because the entertainment company is asking for too much money. Shares climbed 2. 90% at the open of the U. S. trading session.
Other stocks expected to be in focus included Baker Hughes, Whirlpool and Kansas City Southern , scheduled to post second quarter results later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0. 42%, France’s CAC 40 retreated 0. 46%, Germany’s DAX slid 0. 38%, while Britain’s FTSE 100 declined 0. 59%.
During the Asian trading session, Hong Kong’s Hang Seng Index edged up 0. 08%, while Japan’s Nikkei 225 Index tumbled 1. 48%.
Trading volumes were expected to remain light on Friday, as no U. S. data was scheduled to be released throughout the – 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.