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:
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”:
» 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
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….
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