August 14, 2011
Episode 74
Patriot, Joey, Vic, Tim, Scott, Steve, Diana, Deb, Pam, Yukon
Patriot describes a variety of missions, objectives, style, sources, and intentions of the squad that can be heard at the beginning of every call replayed on the website:www.thecallsquad.com . See very interesting
free documents and downloads often referred to on calls, for your edification. Especially look for our ‘Freedom From Intel’. This is an official document which is theUnclassified US State Dept. report called ‘The Iraq Project’. It has been the blueprint for rebuilding Iraq written in 2002. They are still following this plan very specifically, so there is no need for rumors or high placed contacts with so-called intelligence. This is the plan and we help you analyze the news media reporting the steps as they are completed. Send all comments or questions to comments@thecallsquad.com.
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Joey’s Favorite article of the last 3 days:
Trade Bank of Iraq: Ready to support and finance any investment project to support private sector August 9, 2011
Expressed the Trade Bank of Iraq and his willingness to support the financing of any project integrated to the private sector is based on a sound basis in terms of rules and conditions that apply for the available investment process in Iraq in exchange for the possession of the private sector guarantees to cover the funding.
Announced in an exclusive interview for “economic morning,” Director General of Trade Bank of Iraq Hamdiya Mahmoud Faraj dry, said a review of investment projects implemented by private sector funding from the bank, the Bank has funded a project to build the American University in Sulaimaniya, where lent the private sector $ 20 million and for a long time and in stages where the first phase loan was $ 5 million.And revealed that the bank has financed the implementation of the company’s own power stations in the Kurdistan region, as well as a project of iron and steel plant in Basra, which was carried out by one of the Iraqi private sector companies.
And alluded to other projects to build housing complexes in the provinces of Babil and Wasit to the Rusafa water project and the Army Canal Project and the city of games and entertainment complexes comparable to what exists in the world. And on the question about the mechanics of lending to the private sector for implementation of investment projects showed that the dry study of the feasibility of the proposed project implemented by the private sector is one of the most important factors that should be available on the project to be guaranteed money and can repay the loan later in accordance with agreed terms.
Solvency
When applying for building scientific edifice is important in the province of Sulaymaniyah and found the conditions that the applicant company to invest in such a project is vital and important has a good reputation and a sheet financial able to pay the installments of the loan as well as the project is a feasibility can achieve profits of the company and this principle is known that the bank takes into account interest and profitability.On this basis, the bank has opened up to all the provinces and one of the reasons for encouraging openness toKurdistan is stable and there is the security factor.
She pointed to the prospects of work of the bank and other activities by saying that the bank is now preparing to open new branches in and outside the country to expand the provision of advanced banking services.The intention is to open a branch in Lebanon and another in Turkey and that the presence of extensive commercial dealings with the Turkish private sector. I would like to point out here to be directed towards the Iraqi market, the bank aims to support all the economic sectors, including private banks through bank credits that can be the way that the development of the economy.
She reiterated that the bank is ready to support any investment project to achieve the desired goals in support of development programs and the promotion of investment and building the right way. With regard to the support of private banks, the bank raise the amount of the appropriation to $ 4 million up to a maximum of appropriation big is the competence of the bank Caldoaúah and health. She was eferring to the banks that receive support to assess their performance by the Central Bank of Iraq.
The desired role of the heuristic
She said the Central Bank of Iraq is the role of control and this positive sign, but I find it is necessary that the role of guidance and direction and the wrong diagnosis is not punitive but rather for the purpose of diagnosis for the purpose of routing.
Government bank
And on the question of subordination of the bank showed that the bank Hamdiya dry basis in the CPA and have been a follower, according to law, the bank became Aaúdath to the cabinet, a government bank.And the Ministry of Finance an active role in the follow-up activities of the bank and to provide advice and counsel, referring to support full and finance minister of the bank and its activities.
The secret of success for the link to the bank of the Cabinet
A study of disengagement, the Bank of the General Secretariat of the Council of Ministers and to link the bank with the Minister of Finance exclusively because of the specificity of the bank I find the need to keep the bank in this partial freedom to deal or not restricted, and its association with the Council of Ministers is one of the reasons for its success and any other engagement to be running on the bank.
Investment Authority has not invested so far
And on the question of the possibility of the bank’s support and financing of investment projects identified by the National Investment Commission said let me show you something . Our relationship with the good and we had more than one meeting with them and there are projects with the Authority, but is under study and there is an exchange of views, but so far not being implemented any project and we are prepared upon request and after a feasibility study.And other activities revealed the intention of the dry bank and supporting orphanages in Baghdad and the provinces and the bank will support the sports sector and Zora Club in particular.
She concluded by referring to the need for clarity of approach and economic programs in proportion to what came in the Constitution and this stage requires the growth of the private sector and give it effective role in the construction and investment. Referring to the loss of a lot of money on projects that have not seen the light of the huge amounts of money account numbers are either in fact we did not find anything noteworthy on the ground but the situation is even worse, which rely upon uncertain ready bank support and private sector financing to take its role in the construction and development.
Joey paraphrases these lines for emphasis of key points: ….the Trade bank has funded University, other in iron and steel in Kurd, canal, city of games, entertainment. ….they’re looking for investors and will pay them back and they will make huge loans….very stable in Kurdistan and very secure…they intend to branch out both in and outside the country. This bank aims to support all the economic sectors. We all know what happens when you pump, up the private sector, the currency value rises.
Joey: And another article that ties to that one. The previous one says banks are issuing all sorts of loans to pump up the private sector, in order to help the RV readiness. Now listen to this one:
Joey reads: Plans for the Iraqi dinar reorganization
August 12th, 2011 09:54 am · Posted in NEWS (Iraq & World Currency) by Samantha Dale
Finance / Debt Management (submitted 2011-08-12)
The Iraqi dinar strengthened after the improvement of the oil field, becoming one of the most viable currencies in the Middle East. The Iraqi Central Bank detains foreign currency reserves such as dollars, pounds and Japanese yen also gold reserve; thus, the value of the dinar is covered regardless of market fluctuations.
The dinar exchange rate was equivalent with more than three dollars during the eighties, but the economic declension caused by decades of wars and the increase of inflation led to the dinar depreciation. Since 2010, the Central Bank established several procedures to increase the currency power and protect the Iraqi economy from the consumer’s chaos.
The CBI adviser, Mohammed Saleh said that the deletion of zeros from the currency was part of the reforming project, which aimed the national currency management and the economic improvement. He refused to disclose the date when CBI would launch the new dinar citing the complex procedure that the process involves. He only revealed that the Central Bank would transmit its plan to the Cabinet within a month. An expert of the Ministry of Finance, Miller, affirmed that the deletion process would reduce the high rate of inflation giving as example countries such as Turkey or Brazil.
Miller pointed out that the replacement process would be gradually, the new currency circulating alongside with the old dinars. Therefore, the withdrawal of the old currency will not affect the daily exchanges. Although, the economic analyst, Basil Jamal Antoine stated that the restructuring would cause confusion among citizens. Therefore, it should implement a campaign to prepare citizens and financial institutions.
Furthermore, economists criticized the Iraqi banking sector which was not able to deal with investors expectations. They added that the private sector worked after the Central Bank rules and laws leading to the limitation of their services.
The Director of Waka Bank, Samarrai stressed that the Iraqi banking sector could not compete with international banks due to the lack of human and material resources. These gaps prevent the opening of branches of foreign banks in the country. The opening of these branches could influence the economy and the Iraqi dinar revaluation.
Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.
According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment.
Furthermore, Iraq denied the establishment of a nuclear station on the border with Kuwait. The Undersecretary of the Minister of Foreign Affairs of Iraq, Alabawi stated for the Kurdish news agency that there were only rumors and the two countries did not formally reveal the decision of creating a nuclear power station. He stressed that this action would damage the Iraqi environment. Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.
The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.
Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.
Joey Adds: So we can’t have the RV until they pump up the economy. Isn’t that amazing?
Steve: There was a word you read twice in the same article….This article actually has the word ‘REVALUE’ twice in the article. I can’t remember articles from Baghdad using that word, we do, but the news media there has not used that word, in my memory
Patriot: The delay in RV is the inability to staff the banks with proper qualified people. It’s a local labor shortage so that they can begin the RV and get the currency out. Not some global conspiracy or any one individual or group in the world with an agenda. Along with a conjecture we made here 3 weeks ago, which was proven by recent articles,…and I went out on limb, that the reason Shabibi was delaying the RV, possibly affecting our debt rating, and the rate value, could have been the issue of their plan for establishing the RV rate, with a managed float. Meaning, he has limits of how much he could change that RV very low 2.5% every 90 days once he ties the IQD to the USD…so he wanted to wait and see what the dollar was going to do before he owned the establishment of that rate for the next two years. Now there have been many articles coming out that agreed with that basic premise. He wanted to see the fallout of our debt crisis and credit rating to make sure he had a mechanism or open options if needed. Like stated before, he did not want to insert his IQD rate or ‘X’ value into the RV equation until he understood what the ‘Y’ value of the USD strength was going to be after the economic issues recently. And they also are now seeing a couple weeks later that the dollar is still solid. The GCC is still supporting the dollar, the dollar concerns are diminishing. The holdup is practical, not a global conspiracy. Don’t be upset about delays. Business as usual is continuing, and the delays are prudent, wise checklists, smart timelines and priorities, of really good business. They’re following their own procedures. They’re not going to screw up 6-8 years of planning to properly structure the economy and their own procedures, by getting in a hurry. That is exactly why and how we even have this opportunity. Read The Iraq Project, they have a plan at this with only ONE SHOT. They don’t want to repeat the gyrations and wild speculations of the KWD Kuwait RV in 1994.
Joey reading from another: Since 2010, the CBI has setup several procedures to increase the currency power and protect the consumer from chaos. Shabibi also has said about the budget: that the budget for this year’s investment budget; it’s focused on the size of the investment. The CBI want to focus to attention to all means policies, and the environment and the normal rate of inflation. The bank is fighting inflation. The bank had a number of measures, including raising the dinar exchange rate including the purchasing power of the government will increase by addressing inflation and increase the confidence in the dinar…which will pull the money in to the bank, which leads to a reduction of imports …that comes from the transfer of the dinar to the dollar. Iraq wants to and means to affect the economic and monetary policies by making the Iraqi dinar value by making it powerful and strong. How many times have we heard that man say he would make the dinar strong?
Steve: We get so many emails fearing the LOP. Here are a couple more in support of all we’ve been saying
Joey: They are growing their economy by building an infrastructure, which means that even the price of oil fluctuates because they’re growing in a diversified way but the currency can RV and the economy can grow because they are not going to be reliant solely on oil. This is where Shabibi has dedicated much of his time and attention in the past couple years; so all the future wealth will not rely just on oil and gas. Shabibi has worked tirelessly with many economic experts, outside international banks, and with the GOI to diversify and build a structure for their economy.
Vic: I want to bring a good article. I wanted to know which countries have the fastest trains in the world for transportation services. The Top Ten Nations With The Fastest Trains Are:
1. CRH2 China
2. THR Taiwan
3. KTX Korea
4. ShiKun Japan
5. HV Spain
6. EuroStar UK
7 TGV France
8 MLX01 Japan
9. Southern Germany
10. FX001 Japan.
Vic adds: Maliki has visited 2 of the top 3 countries. China and S. Korea Maliki has recently visited.
Vic reads: Ministry plans $70bn national rail network
11/08/2011 15:59
Baghdad, AUgust 11 (AKnews) – Ministry of Transport plans for a $70bn rail network that links the Iraqi provinces with high-speed trains travelling at 240 km per hour have been submitted to the cabinet for approval, says a senior ministry official.
Deputy Transport Minister Bangin Rekani told AKnews today that the project has been submitted to the Council of Ministers as part of a bid to connect Iraq to its neighboring countries, develop internal transportation and boost the Iraqi economy.
“The ministry has insufficient funds to implement the project, and therefore is awaiting the approval of the council of ministers to dedicate extra funds.” Reported by Jaafar al-Wanna RY/KA/AKnews
Vic’s enthusiastic commentary: This is incredible evidence of how much money they are expecting to have available to spend! “Insufficient Funds (Vic adds: ‘AT THE MOMENT’, guys) and is awaiting for the implementation of additional funds.” Can you imagine, these guys are spending money….approval of council ministers to dedicate more funds. 2012 will see a huge portion of money, 70 Billion USD spent on a train system, which is almost the entire amount of the previous year’s 86 Billion USD 2011 budget.
Remember who is helping build the port with Kuwait? Hyundai! Who is South Korean? Hyundai! Maliki signed some major MOU’s (Memo of Understanding).
70 Billion USD will buy state of the art technology. The state of CA is the 8th largest economy in the world, and its taking them more than 15 years to work on high speed rail, and won’t do it until 2025. Iraq, now is going to make it a priority in their reconstruction from the beginning. They are serious here; they are spending big money for quality in the coming months. Those bullet trains are awesome, they plan to connect to neighboring countries.
Patriot: 144 mph is a pretty fast train. Also we recently saw the plans for France to build a loop around Baghdad for mass transit efficiency.
Joey: They spend 65 million dollars to refurbish a palace. They are not afraid to spend to get what they want. Everything, banking included, is top shelf. They really want to be considered a first class nation.
Joey reads A little thought on the Iraq Economy:
Iraq Economic Commission: Falling dollar will hurt Iraqi economy
Posted: August 14, 2011 by THE CURRENCY NEWSHOUND - Just Hopin
Deputy of the Economic Commission is expected to continue falling dollar which would hurt the Iraqi economy
On: Sun 08/14/2011 12:58
Baghdad (news) .. Parliamentary Economic Committee expected continuing decline in the dollar in the next stages as a result of economic shocks and low credit which will affect the U.S. directly on Iraq. A member of the Economic Commission and parliamentary deputy / Kurdistan Alliance / Mahma Khalil (of the Agency news) on Sunday: “There is damage evident on the Iraqi economy due to falling dollar prices due to lower U.S. credit markets as well as shocks and economic recessions in the industrialized nations large and the fact that Iraq deal dollar must be affected directly.
Khelil said: “There are procedures for internal and external to protect Iraq from these problems, the first is to rely on the private sector and promote the product of Iraq and protect it and activate the necessary laws, calling for support for the energy sector in both its electricity and oil to the large number of the suffering of other sectors of the lack of these two things, either the second, the Iraq is obliged to the diversity of its exports and not rely on oil.And Ntkd Khalil policy of the Iraqi Central Bank, which depends on the dollar in order to improve the national currency, counting is not correct, adding that “Iraq sell its oil in dollars and then turn it to the national currency in order to give the value of the Iraqi dinar at the expense of losing and this is wrong.”
Joey: Good article, just a small thing, but they just keep pointing out that they are opening up doors, the banks were the key to that solution for opening up the door to the world for relying on the private sector diversification.
Patriot: Refers to The Iraq Project to go to table of contents and see the last 3 sections of that document, Item 20 is the last piece they needed to put into place and that is what they are doing and are about complete. This is why this is such an important document. The security of our military support, the building of the private sector infrastructure, and the preparation of banking, are the last three steps that are just about completed, if not, already done.
Vic: Think about it. Most don’t realize HSBC is Hong Kong Shanghai Bank… Hong Kong was a colony of the English who had a 99 year lease, which remained a powerhouse bank tied to London. HSBC is not a new company or bank. For them to set their sites on Baghdad, you gotta know they have done there surveys well in advance. HSBC does not lose money. They would not have gone in if they weren’t serious about making money. Then CitiCorp followed right in. I agree, Shabibi got a lot of support from his banking associates. I feel quite comfortable with Shabibi running the show. Remember he was in Rome with his Arab brothers, and European allies in general. Whatever the banking criteria is, he has it covered.
Patriot: Shabibi was the speaker on Friday in Rome which was a 3 day conference by the BIS; and he told how Iraq has the State of the Art Banking system to assure them they are ready to do International Transactions. They have the newest of the new electronic banking technology and software. It was a great conference. Also, there was a rumor in the dinar community that said there was an assassination attempt on his life in London that day. But he was the keynote speaker in Rome. It really is important to step back and check the sources of these rumors. If dinarians would follow the real news instead of website rumors they would have known Shabibi wasn’t even in London. Most of the time, when we get news reports that this investment is negative or will fail, it is usually a dinar poacher or blogger that has a bone to pick with someone; or a different agenda and nothing solid. Failure is not an option for Iraq, and the world has too much invested there to sit back and watch it fall. It’s bigger than one person. There is no conspiracy around the RV. It’s the virtue of the many that have been working on this for so long. It’s outside the realm of gamesmanship. There are really no delays here, just planned procedural processes.
Joey: I love these next two because I think it will give everyone a lot of peace: when people tell you there is no proof it will ever revalue, listen to this older article
From IMF on Emeraq.org
Joey reads (no title listed):
It is expected in the coming months that the dinar will rise against the dollar. International Banks do not yet exchange the IQD because there is as yet, an internationally accepted exchange rate for the IQD. The WB and IMF have a stated objective, to make the dinar an International Currency once again. It is expected for this to happen sometime within 2009-2010. The exchange rate is being monitored by the IMF and CBI, which has established a program of measured increases of the nominal value of the IQD. Iraq has great long term potential and is currently rebuilding its infrastructure, which is stabilizing the country socially, politically, and economically. Iraq is also a country which is rich in oil and other natural resources and once the recovery begins, these factors should lift the dinar value. The new Iraqi government is also establishing a new monetary system that engages foreign investment.
Joey: Isn’t that a nice little article? So the IMF and CBI are in control of this, not any other country in the world. Not China, USA or any other.
Joey: This next one has to do with the USA and when people say the USD is going away, read this one:
The Bakken Oil Discover in Dakotas & Montana: Forbes Interview; US Geo Survey
About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest. The host said to Forbes, "I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more than all the Middle East put together." Please read below.
The U. S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana ..... check THIS out: The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5...3 trillion.
"When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.." says Terry Johnson, the Montana Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reports The Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' It stretches from Northern Montana , through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves.....and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!
That's enough crude to fully fuel the American economy for 2041 years straight. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006!
U.. S. Oil Discovery- Largest Reserve in the World
Stansberry Report Online - 4/20/2006
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005
President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this mother load of oil why are we still fighting over off-shore drilling?
They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth.. Here are the official estimates:
- 8-times as much oil as Saudi Arabia
- 18-times as much oil as Iraq
- 21-times as much oil as Kuwait
- 22-times as much oil as Iran
- 500-times as much oil as Yemen \
- and it's all right here in the Western United States .
HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy.....WHY?
James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.
Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC just might be funding the environmentalists?
Got your attention yet?
GOOGLE it, or follow this link.
Joey: How does that make you feel about the strength of our USD? And about how truly protected our nation is? I don’t think the US has any worries relative to the remainder of the world. We’re the biggest player in the field. We’re not going anywhere soon.
Patriot: Especially since last October, the IMF changed or set a new standard by which currency could be valued. There is not enough gold and silver in the world to totally back 100% of all the world’s currency values into the future where as economies grow there will always be more and more currency. So they’ve set a standard whereby if only 20% of a currency was backed by gold and silver, then up to 80% could be backed by other proven resources that are yet untapped commodities, that the rest of the world accepts. It could be oil, coal, soybeans, rice, corn, wheat. And we just read last Wednesday night that Iraq’s 7 year study of Geological Resources was completed , which are more plentiful than previously supposed for backing the new value of the IQD, and will be unveiled in early September. So following that 80% rule to back the dinar which will be very solid, the dollar will be in even better position because we have such vast resources here in the USA. 18 times more oil than Iraq is significant because we have 10 times the population. So this means that USA has a 1.8 factor ratio of a greater capacity to back our currency than Iraq has to back their currency. That is really good news. We also have coal, gas, nickel, uranium, agriculture and more with which to back the USD using the new IMF guidelines. So these little fluctuations of the dollar is nothing to worry about. The dollar is in a basket of currencies. This is something they have started doing in recent months, working with baskets of the world’s stronger currencies, and including a little gold to balance those currencies within a basket. We’re in good shape, yea, the economy stinks now. But as far as the long term value and stability of the currency, the dollar is in much better shape than so many other currencies. About three weeks ago, when the KWD had a little shift, the USD only dropped .5 of a cent (half cent); the Jap yen did not fluctuate against the KWD, and interestingly, the Swiss franc doubled the decline of their value against the KWD than the dollar had.
Yes, we have some problems in our economy and nobody denies that, but as far as the bottom falling out of the dollar, to where the dollar will have no value is highly unlikely. All oil purchased and traded by all nations is still transacted in the USD. With such strong oil reserves, even with all the price fluctuations, and this is just my theory, that I started saying 2 years ago, long before I knew anything about the IQD… …..Governments do generational planning, not just 10 year plans, but 50 or even 100 year plans. We can afford to. We plan to be the Last Man Standing when we’re the only one with resources remaining and all the money we’ve spent for years buying their energy will come back when we’re the only ones with energy remaining. It’s brilliant. Families go paycheck to paycheck or even 30 year mortgages or careers. Governments look at a hundred years like the tick of a clock. The best we can do short term with high unemployment and this current economy is to get our own financial houses in order. We are less vulnerable, if we do some simple things. If you can’t add 10% to your income by earning more money, we need to investigate some options. There are a couple of resources that we will be investigating and planning to share with our listeners. Some in our community are very urgent for this to happen. It never hurts to have your financial house in order.
Deb asks Patriot about his favorite article and reads: CBI new currency will be printed in 3 languages by the Constitution; project has been forwarded to parliament.
Patriot: Interrupts: There has been a vicious rumor in dinar community claiming that one of the larger dinar dealers has been doing bad business and put in a bunch of erroneous information by emails that included that the currency of Iraq will never have English printed on the dinar. This was actually traced back and determined that this fraud who totally fabricated this information was not an employee, had never been an employee, and should be ashamed of himself. This article proves that the constitution of Iraq requires that the English will be on the IQD and it is already done! Sorry to interrupt but this reminded me that I want to stop rumors and protect those falsely accused.
Deb continues reading:
CBI: New currency will be printed in three languages by the Constitution; Project has been forwarded to Parliament
Saturday 13/08/2011 10:32
Baghdad (news) .. The Central Bank of Iraq to the new currency that will be the deletion of zeros will be printed in three languages, Arabic, Kurdish, English as indicated by the application of the Constitution, pointing out that the old currency will be dispensed gradually.
The central bank adviser said the appearance of Mohammed Saleh in a statement to the Agency (news) on Saturday: the new currency will be printed in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution, stressing that the aunt of old will not be canceled immediately after issuance of the new, but will be dispensed gradually.
Saleh pointed out: there is no difference in the currency on the new rights at the exchange rate and the purchase, saying: When you want to buy the rotor b (1200) dinars, we will buy and dinar (200) fils.
He added that the project to delete the zeros approved by the Department of the Central Bank has been forwarded to the Council of Ministers and MPs, if approved by the government it will be worked by hand.
The central bank adviser that the purpose of the project to delete the zeros of the three is to reduce the
large numbers of objectionable transactions, which will reach trillions, and the blocks will be shortened without cash disparage and wealth or income, they are all be fixed.
And that the project will be working gradually, and differs from the previous project, which began at the end of the year (2003) and continuing until the end (2004), and expected to take the project over time more and continues to years and thus we note that the old currency will gradually disappear.
Patriot: Whoopee or Yippee! Could you read that sentence again….?
Deb: … There is no difference in the currency of the new rights…when you want to buy the rotor b (1200 dinars, we will buy 200 fils)
Patriot: a bit of explanation; our theory, we believe that this is the closest thing in print that may indicate an actual rate. This article came from the CBI. We are trying to understand or translate ‘rotor b’. Is that a book, a bottle of beer? What is it? They are making an analogy to show that when the RV the currency, the dinar will have more value. 1200 dinar is about $1.02 would be equal to 1200 fils. There are a 1000 fils to 1 dinar, so 200 fils would be 1/5th of one dinar or 20% of 1 IQD; so if 1200 dinar currently purchase the
‘rotor b’ whatever it is, and then after the RV 200 fills will buy it soon…..and I’m going out on a limb as we wait for a better translation… that which is about $1.02, 1200 dinar to become 200 fils is looking like a $5.13 RV….based upon what we think this is trying to tell us in the story problem, our mathematical best guess and speculation and supposition; if this is accurate, based on an 1170 rate today, where 1200 dinar would be $1.026, but this is the first we’ve seen a 'dinar to fils' comparison. And this may be a clear picture of the education process in which they are engaged.
Vic: To me what was even more breath-taking than this, was the bullet train, really as it shows clear intention. That is a very serious example of their need for money.
Vic: Most people in the USA talk about the rotor of a brake in a car. Or something circular or a round object, so Vic thinks the article is referring to a round piece of currency with value of 200 fils which would be like a coin.
Deb reads again and changes the sentence’s word ‘rotor b’ to… ‘round coin’…to pretend that’s what it means. She reads it again.
Patriot: Now if the rotor b is a round coin that costs 1200 dinar today, and it will be 200 fils, then after the RV its still a 1/5th ratio, which could be an estimated rate as part of the training or education process attempting to prepare the people to understand the estimated value of the new money so they are somewhat clear of how much change they should be receiving at the cash register. We’re guessing at a lot, but this is the closest I think we’ve seen to a rate actually being quoted.
Vic: has done some comparisons of currencies to the KWD, not only the paper notes but also the coins. Did you know that Kuwait has instituted 5 different currency changes since the Saddam invasion?
Kuwait now uses these notes: 20, 10, 5, 1, .5 (half) and .25 (Quarter) Notes
Kuwait now uses these coins: 100, 50, 20, 10, 5, 1 Fil Coins
So at $3.65 USD per KWD, the largest currency, a 20 KWD @ $3.65 would be close to $73. So Patriot, I was thinking the article Deb read and your assessment of somewhere around $5.13 would be very close to hitting on all 8 cylinders. When I heard the rumor $5.27 I thought it was a Swift code, or a third party collateral collection code and it threw me off a bit. But the $5.13 could be very well considered, IMO and we’re just guessing here.
Vic: thinks we’re dancing very close to the fire of the approximate RV value, and this is reasonable.
Patriot: Reminds that there was an article that said that of the smallest denominations, the largest of which would just about comparable to the $100 USD bill. That $20 dinar note at $5.13 would be about that ‘close in value to the $100’ which we read about 6 weeks ago. The data points are getting harder for them to keep secrets and we’re seeing more dots connect, more pieces of the puzzle falling into place. We’re speculating through the cloud of the translation, but we may have discovered an indication of where they’re thinking what the rate may be. No idea about the date, though!
Vic: Wants to bring some info to think about regarding the S&P Rating Agency with our Credit Rate drop:
I think we’re going to be seeing some investigative reporting; for some reason they will have to explain a shortfall or mistake of their calculation of over 2 Trillion dollars, but why they shorted us and Moodys and Fitch did not. Vic suspects there could be some insider trading and some fingers pointed. There is one name in particular that I won’t mention. O’bama is not very happy either. I’m not here to weave a yarn, but if they have done something improperly, they are going to put us back to AAA, we lost 1.2 Trillion in the market. If they failed and opened a floodgate, they will now have to help close. I hope they have good insurance. They will have to make a lot of reparations. Look for a trust fund or something that will help to offset the losses they have caused. Keep your eyes peeled and tuned in for the next couple weeks.
Tim: Adds they did something similar to Warren Buffet also.
Patriot: states that the drop in the market over that week was about 2 Trillion USD in equity that was lost from investors in the US Stock Market, and if there were inside traders, that were shorting equities, they made a lot of money on that manipulation. There’s a lot of who knows what going on. Patriot wants to stay in the center until anyone is proven guilty.
Vic: Remember what happened Friday: The market was up, oil was up, everything but gold was up.
Patriot: If it was legitimate with real concerns or conditions that caused the market to fall, then that’s different. So we’ll see. There was a similar situation in 1980 when the Hunt Brothers drove Silver up to about $52 …then the bottom fell out of the market. The investigation soon thereafter found the impropriety.
Steve: shares email question this is one of many similar. This is from 64Rambler. A new dinarians, listening nightly to the squad, with the often translation issues, how do we know for sure that it does not mean LOP?
Squad: Shakes head and wonders how anyone who listens a lot could still need more coverage of this. They talk about making a special segment just for this.
Vic: This bothers me a lot. When it comes to the CBI, go to the BIS , the hub of the banker’s banks, the hub of the central banks. Iran and Iraq are separtated by one letter, n or q. The Lopping has to do with IRAN, not Iraq. Vic talks about owning land in Iran that has gone from 100,000 Rial, to 100,000,000 Rial. That increase does not help Vic, it is only inflation. Vic chastises the audience that doesn’t read to study and insists that no more LOP questions are allowed on this call.
Tim: Reminds us all that the CBI will print a 100,000 note for very large transactions, and that would mean that note would be lopped if that was there intention. They also intend to have a one dinar note.
Joey: Reminds they are going to share both high and low denominations to exist on the marketplace for at least two years, you couldn’t have a 25 dinar and a 25,000 dinar note equaling each other at the same marketplace.
Patriot: a 25,000 note can be deposited in the bank and get digital value. Another person might choose to go break the 25,000 into 100 notes of 250 IQD denomination. The last big guy, decides he likes carrying the large denomination for all his big transactions, so he does nothing but keeps the large red 25,000 IQD note, and doesn’t have any fear of carrying around over $100.000 worth of dinar in one bill. All three scenarios are the same value.
Patriot: Responds to a dear sweet lady that emailed with concerns that other sites are ‘stealing’ The Call Sqad material from the calls. Patriot assures her that The Squad has no problem with people using our information, in fact we’re honored that some would use our services as a good quality information to share with your folks, and it only goes to complete our mission. Deb & Patriot agree that if they want to use our information, please be sure to get the analysis of the news articles that we are assessing and formulating conclusions about; make sure to keep it accurate. It’s very gratifying to know that in 74 episodes we have helped to shift the paradigm of the dinar community and help them demand or focus upon truth and facts. We don’t write the articles, but we do have Joey and her 25,000 page archive of past news that we connect today’s dots back to for sketching the reality of a picture. We need to index and categorize her archive to put it into a space capsule for civilization to refer back to this historic event and time. So please don’t worry about our information showing up in other sites for the betterment and edification of their people, as long as they use our message without changing it and then trying to take advantage of them somehow.
Call continues with Q & A; Transcript ends.
