Tying up loose ends, researched and posted at CTC

[ga_loot]

Posted Today, 05:28 PM
The ‘gurus’ seem to be recanting their previous statements for the most part and saying the RV is to occur within the next few weeks. Sound familiar? And I don’t even count any contacts to be my close personal friends, CBI contacts, Treasury contacts, bankers or White House sources.

So how could these conclusions and opinions be made [and said first, if you recall] when I don’t have these close personal associates?

Simple.

Research. Following the breadcrumbs. Sometimes the breadcrumbs lead in directions that may not be the direction you expect but they always lead you down the right path.

Looks like it’s time to tie up some loose ends. And in my opinion, that’s exactly what I sense is happening right now, at the CBI. I believe that once these details are addressed, the CBI will take actions necessary to bring their currency to the global market.

I don’t think that there’s much more to do. All of the major obstacles have been overcome, or are near completion.

For Example: United Nations and Chapter VII
Iraq has made great strides over the last couple of weeks. They’ve received incredible support by virtually every country for release of the Sanctions. So much support that it’s too numerous to count.

Points to Review: WMDs:
Baghdad has already signed the Additional Protocol to the IAEA and submitted to parliament for final approval and agreed to implement it temporarily until the entry into force and has also pledged not to develop nuclear weapons or chemical or biological weapons again

Kuwait
Although there are still discussions related to Kuwait’s MIA’s, continued debt and border disputes, there’s been great strides building the relationship between the two countries.

Al-Jarallah assures that Kuwait does not stand in the way of money out of Iraq's Chapter VII
http://www.youtube.c...player_embedded

Iraq names first envoy to Kuwait in two decades
http://www.khaleejti...tion=middleeast

Kuwait is coming along nicely.

Financial and Economic
There are very few obstacles yet to be addressed by Iraq. Only one stands out, at present:

“…They called on the authorities to remove the remaining exchange restrictions under Fund jurisdiction. Directors also encouraged the central bank to fully implement the recommendations of the previous safeguards assessment and looked forward to its update. The need to preserve central bank independence was particularly emphasized. Further steps are necessary to strengthen reserve management, banking supervision and prudential regulations, and the AML/CFT framework….”

http://www.imf.org/e...2010/pn1034.htm

To my mind, this means the exchange rate. And further, for the CBI to continue to strengthen their reserves.

As discussed earlier, CBI’s Governor Shabibi is an extremely fiscally conservative individual. He’s just announced yet another 10 billion USD will be returned to the reserve.

And finally: Election Day
An incredible success in the eyes of many, and the successful conclusion of two tests

1. The Election itself went off successfully without sectarian division.

2.The Election went off with less violence than could have been anticipated. And the Iraq Security Forces were well in control, thus proving that they are now ready, willing and above all, able to look after their country and make it safe for their own citizens. Something that was not fathomable years ago.

And what does the IMF have to say?

Here’s their review. Very positive, actually
http://www.imf.org/e...2010/pn1034.htm

One paragraph stands out:
“…Directors supported the central bank’s objective of aiming monetary and exchange rate policies at keeping core inflation in single digits. They called on the authorities to remove the remaining exchange restrictions under Fund jurisdiction. Directors also encouraged the central bank to fully implement the recommendations of the previous safeguards assessment and looked forward to its update. The need to preserve central bank independence was particularly emphasized. Further steps are necessary to strengthen reserve management, banking supervision and prudential regulations, and the AML/CFT framework….”


http://www.un.org/Ne.../sc9827.doc.htm
“…Calls upon the Government of Iraq to put in place the necessary action plan and timeline by 1 April 2010 and to ensure the timely and effective transition to a post-Development Fund mechanism by 31 December 2010…”

The financial action plan must be in place by 1 April 2010.

What’s left to be done?
After the Elections:
1.These laws are passed but yet to be ratified:
IFL
HCL
Both will have a positive financial impact on the country. The CBI will want these in place to finalize its’ plans in planning for a stable reserve, as well as strengthening their position in the international marketplace; both with oil contracts, and foreign investors who are anxious to do business in Iraq. I think the timetable will be affected by the ratification of these laws.

The Hague Agreement concerning WMD’s must be signed immediately after confirmation of the Iraqi Government.

Another point.
PM Maliki gave reference to the CBI was in the process of finalizing a study concerning the currency exchange. Obviously this must become public knowledge. I believe this to be a very important document, which will give light to Iraq’s plans. Watch this space.

There is a very important meeting of the IMF on the 23 &24th of March. Could the release of the study happen then?

UN High Level Financial Meeting
Study to be finalized and presented
http://www.un.org/esa/ffd/index.htm
http://www.un.org/es...D2010/index.htm
http://www.un.org/es...ldebt/index.htm
http://www.un.org/es...aration_FFD.pdf
Shabibi’s profile:
http://www.cbi.iq/thecbi.html
http://www.un-ngls.o...php?article1588

I’ve already said that the RV will occur on or around April 1st. I believe that what yet needs to be accomplished and it can be accomplished by that date.
Barring any delays, I haven’t seen anything that would change my mind.

You can find all sorts of opinions on the rate, but no one knows for sure.

Just tying up the loose ends.

Do not bet your kid’s lunch money, rent or car payments, etc. This is just research. I am not here to boost the sales of certain individuals or make money for anyone else. I am just providing the research in a readable fashion so you can make your own informed decision instead of having to listen to guys who twist every event into “it’s happening tomorrow”.

Research assistance provided by IceQueen.

[msv957]

wow... thank you for the post... Very interesting...