Highlights/Thoughts
Click on the title of this posting to get the detail of this posting on 1 Dinar (membership required)
1. Update provided by Ray in the form of questions and answers
2. I will not attempt to summarize. Instead, I'll highlight in bold those items that were of particular interest to me
*********************************************************************************
Question:
Can you tell us in more detail regarding the CBI Currency Auctions and if the banks actually receive cash?
Answer:
He said they received a combination of cash and wire transfers. Wire transfers was the greater amount.
***********************************************
Question:
Do you know of current any bank mergers?
Answer:
He was not aware of any at this time.
***********************************************
Question:
What are the main banks in Iraq?
Answer:
He said there are two main banks in Iraq. The Rasheed Bank and the Rafidian Bank. His nephew works at the Rafidian Bank which is across or down the street from the CBI.
***********************************************
Question:
Do you know if the HCL law was passed or not?
Answer:
Heard of the law but was not aware of its status, but he did say that Kurdistan signed an agreement with the government allowing them to start pumping oil to sell.
***********************************************
Question:
Is the census done?
Answer:
He said it was not complete yet due to the cities of Mosul and Kirkuk were arguing with each about the census. They do not want to be included in the census because revenue to them would be affected by an accurate census count.
***********************************************
Question:
Can he tell us more about the vacant ministries positions?
Answer:
He said that Maliki requested three candidates from each bloc to be considered for the remaining positions. They all refused and told him they would only send one candidate. He now has these candidates and is suppose to send his choices to Parliament in the next two to three days to be voted on. He said that their passage by Parliament should be no problem.
***********************************************
Question:
What do you know about the status of the 2011 budget?
Answer:
He also heard that the budget would be completed this month.
***********************************************
Question:
What do you know about the re-valuation of the Iraq Dinar?
Answer:
He told me that three months ago, all the bank managers had a meeting at the CBI with Shabibi. They were told that the dinar was going to revalue and go up, but they were not given a date or rate. They were only told that it would be soon. Two days ago his bank had an internal meeting and were told again the revalue would happening soon.
***********************************************
Question:
What do you know about the lower new Iraqi currency?
Answer:
He said that new currency is already printed with the lower denoms along with coins too. The money is being stored outside of Iraq and will be brought in when the revalue happens. He also said, the CBI told the bank managers that the people of Iraq would have 30 days to exchange their dinars and people outside of Iraq would have 90 days.
***********************************************
Question:
Are their any other current events ongoing that he can share?
Answer:
He also said that Exxon is running tv ads looking for workers to hire for work in the south of Iraq. All types of services were being hired.
***********************************************
Rays comments to me:
He will be calling back home tonight and will try to get me more info. Looks to me that everything is almost in place and we should see an RV before long.
There you go folks, this is the best information we can provide to you. I will repeat myself, I am 200% confident of my investment in this country as should you.
Please have a great super bowl weekend and stay safe.
Ray and I will bring you additional information as we receive it.
Blessings to you all,
Steve
No comments:
Post a Comment