Highlights/Thoughts
PLEASE DO NOT READ THIS IF YOU DO NOT WANT TO READ RUMORS
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1. The IMF has the power to force an RV
2. They forced India's RV
3. Something else is stalling the RV in Night's opinion, and it is that China is not a member of the IMF
4. All that has been said in rumors and information is that there should be an RV this week and most certainly this month
5. China not being a member of the IMF is the reason why they play havoc with the world's currency by undermining and refusing to RV
6. They refuse because they would to comply with all the rules
7. The one rule they don't want to comply with is to RV to make their currency competitive with others
8. Need to understand that Iraq cannot get more money from the IMF, WB, and they cannot trade with the 186 countries without an internationally recognized currency
9. In the last 24 months, all of their deadlines have not been met
10. In some cases, they've been 2 to 3 months late
11. They are never on time and most of the time they complete things when forced
12. The loans from the IMF and WB were requested and Iraq was told they would be looked upon favorably
13. The loans will come with stipulations--move immediately to a free market economy and RV
14. The WTO was directed to put all mechanisms in place that Iraq needs to join and do so immediately (that was 2 or 3 weeks ago)
15. There is something that is happening right now that is of great importance
16. Even if most of the information we have been hearing is wrong, some of it is dead on. This is true of the bank rumors here
17. As Night said before the demonstrations in the ME will not stop. They will get larger and more violent
18. News coming out now indicates that the people in Iraq (along with some members of Parliament) are blaming Maliki
19. Maliki and Allawi are to blame
20. The one constant in all of this is the fact that they will not join or move into the world's circles of power by RVing
21. There will not be an RI because the $3.22 was the rate Sadaam put on the dinar. This rate was never tested on Forex
22. The $3.22 rate is the base rate for the RV. It will be somewhere in that area
23. Might be higher since their assets can support it
24. $3.52 rate lines up with a lot
25. The rate of $.86 is a rate from 2 years ago when the IMF and Iraq laid out the monetary policy and Shabibi was supposed to RV -- a window he missed
26. The $.86 will not hold today because of the advancements they have made in new oil discoveries
27. The tariff is a tool required by the IMF to move into a private sector
28. You will also see new taxes for the people
29. Night believes they were simply not ready to RV with all the requirements from the IMF, WB, and WTO
30. He believes they are playing catch-up now
31. Still believes we will see the RV this month
32. Night does not believe they will wait until June
33. They have moved quickly to put the money supply in a safe place by drafting a new law to limit powers of the Supreme Federal Court with the intent to dismiss all of them
34. 33 was a requirement of the IMF. If the SFC ruling were allowed to go through, it would have completely disrupted the monetary policy and would have placed Iraq at the mercy of creditors
35. This was one of the hold-ups. The second is the continued procrastination of the forming of the government. The last is the formation of the strategic council
36. The IMF requires a stable government and security to RV; Maliki knows this as it is in the IMF requirements
37. Maliki and Allawi refer to the dinar as the "golden dinar". This is the Sadaam era with a value of $3.22. They are speaking of that as the "base" for the new RVd dinar
38. The radical groups are in favor because the GOI and Parliament have been informed that if they do not act, the US will not provide military support to be used against the Iraqi people who are exercising their rights
39. The problems keep coming back to one man and his party
40. Allawi is talking once again about withdrawing because of the failure to activate the Barzani agreements/initiative
41. If Allawi does leave, Maliki's government will collapse and Barzani will likely pull out
42. Maliki is in his death throes due to his main base of power being diminished
43. Sooner or later some members of Parliament (as stated by them) will give a vote of no confidence to his government
44. Night firmly believes that everything is on track for the RV and we will see it this month
45. Night notes that the Arab summit will be held on time
46. Iraq was told by the heads of the Arab states to get the government in place
47. The dignitaries want to do business with an established government
48. Although Iraq has received pledges for Arab leaders to attend, they will not go unless their safety can be assured. They will not want to go to a city overrun with garbage, bad water, and people demonstrating and living on the streets
49. Cannot confirm an RV within hours or the next week etc.
50. What we do know is the movement will not let up. It will reach Iraq in full force
51. Time is not on Iraq's side
52. The port of Basra has seen a lot of construction lately. Night believes this will be their alternative until things in Egypt calm down
53. Geithner's statement about "unexpected tax revenue" and someone said it is not related to the RV. How does the US go from being in dire straights to announcing they expect an increase in tax revenue in an amount that would allay a disaster until Spring? Someone knows something is coming fast
54. All these things are pieces of a puzzle
55. This is a global issue
56. Bush had all countries that are members of the IMF, WB, and WTO take Iraq dinar and place it in their foreign currency reserves
57. The value of the dinar will rise as Iraq grows and those countries that have dinar will stabilize along with those that trade with Iraq
58. That is all part of the plan as it was explained to him and the plan was composed by Bush Sr and Cheney in 1986
59. Follow the money. Goldman-Sachs, Wells Fargo, Chase Bank, and many major corporations have moved their headquarters to the ME
60. Based on news of recent developments in the region, the RV must happen very quickly now
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