Investigate, Question & Deliver
Tuesday, June 12, 2012
Highlights/Summary & Replay of Conference Call
Conference Call Replay - June 12, 2012
760-569-7699 Pin 769478#
Straight Talkin Mike's Transcription of the Recap of Tonight's News
(Listen to the recording for all of the detailed analysis of the articles discussed after each news article listed - the following is just Straight Talkin Mikes recap of the news discussed)
Highlights from the CBI/Economy News
FAVORITE ARTICLE OF THE NIGHT
"Greetings to the Iraqi Central Bank Governor Dr. Sinan Shabibi"
Sometimes the job you do in life doesn't give you any credit...this was a great letter and tribute to Shabibi (read full article under News Article Links below)
This is what is is going on and that why he is very well respected throughout the world - That is why he will be a Key Speaker at the World Banking and Finance Summit June 26-27
The schedule is detailed on the link on our website and below - "When Shabibi speaks we listen"
"CBI decides to grant licenses to banks to increase the civil branches"
Right along with the plans bolstering the private sector - banks so there is more availability to use the banks - get loans, use them etc....CBI feels comfortable expanding now and right on schedule - putting their head down and stretching for the finish line
We are very happy they are going to increase the number of banks
What does this mean for us? They are bolstering the private sector and that is what we want to see
"Allow 5 Banks & 22 political......"
One of the reasons we picked this article is is we have been talking about they need to boost the private sector - bolstering the economy and what they have done is let the banks go in and exchange rates & what that is doing is killing the business of exchangors out on the street - they made alot of money now they are basically criticizing the CBI for taking the money away and making it for themselves
But as we know that is the only way they can get control of whose taking their dollars - good to see - this confirms this is happening out on the street - you want to get rid of the money dealers - those are the guys that can drive the price up and down - You can stabilize it if it goes to the bank - this way if someone does something stupid like close your country down for 5 days like Maliki did you have control over that and you can stabilize it - the bank is not going to drop the rate for a profit - you are going to control that rate as best as you can - this shows us it is happening in the country - just what we wanted to see
"Central Bank policy emphasizes the development of payments for the Civil Govt Banks"
What is this telling us? The banking system is Very strong and they are really getting a beat on - what the private banks are doing compared to the state banks...We talked about the technology - this is confirmation - the banking system is strong....the banking system is growing - The Banking System is ready for the next phase of Iraq and what they are going to do - with expansion as well as running the loans - now all they have to do is get the people moving there and using the banks - putting money in the banks - they have to use it now - they need to get them excited enough to use it now..How do we do that? ADD VALUE TO THEIR CURRENCY - its like everything is being put in place for that
"Intregrity: Iraqi Officials have depoisted their wealth in foreign banks"
Not only do the citizens of Iraq having a problem putting money in the banks...there own representatives are moving their wealth outside the country....Why do you think that is? How about NO Value to the Iraqi dinar......that shows you the problem and points to the issues they have with a valueless currency
Many people ask me how long can they go on? Will they ever RV.....etc - At some point they have to...look what this does to the banking system - it destroys it - and if you destroy the banking system you can't have value to your currency at any point in time in the future....They have to do it.....they have to get everybody on board and they have to get everybody moving in the right direction
Great article pointing out what he is up against as we move forward
Reinforces the things are getting in place and ready - they have to build a good base for this to last and if you are a contractor you know that any foundation you put down has to have a solid base or everything can come down around it
"Bank: Central Bank to impose new restrictions to reduce the leakage of currency outside"
New rules and regulations - this is part of what they need to do to make sure the money doesn't leave - they don't want to hinder trade and payment of goods, etc for hard currency because they know they have to pay for the goods in hard currency at this point in time because they don't have the dinar with value to it.......As we have said many times, if they would just add value to the dinar and get things moving they would not have this issue - they have to manage this issue as they move forward
All of the articles we read tonight are really talking about and putting it in perspective They are ready...they are showing us everyday things they are doing moving forward - something psoitive every day - inching forward every day.......Very Very Good
2262 companies since 2003
Unbelievable the growth and people moving into Iraq
Thats what we want to see - they are not backing away - even with all the political issues going on - Extremely positive
Several articles seem to indicate these tariffs are already in place - indicating they have goods that have extra charges on them and they are collecting money from it - still gathering information on this info - I am not going to disagree they could have already implemented this and that they may be collecting it off of some goods - but I am also on the fence with it..the government has to collect it but maybe they implemented it and will collect at the end of the month - I still think that they will officially announce they are out at the end of the month - maybe they are doing a trial run in certain territories to see what the reaction is going to be and to see how much pressure it is going to create
"Launch of electronic information exchange system between the ports of Iraq"
The shipping is connected and all electronic - don't get fooled by people saying Iraq is a country we bombed out of existence
They have internet, etc... tons of articles we have read about the amount of technology that the banking system has - they are electronic driven and now here is another example of what is going on with the port system
Lot of freight.....lot of goods...nice to see it coming in - people want to do business and they are going to Iraq - exporting good for the economy - we want the private sector start exporting and get it moving forward - They are progressing at breakneck speed compared to what this would have been 10 years ago
Don't panic when you read these articles from both sides
They are in between trying to get this Vote of No-Confidence and moving forward trying to re-negotiate 140 so we switched from really looking whole heartedly at the government because nothing can happen in the government with the Vote of No-Confidence until the Parliament goes back into session on June 21 - that is the next time that there will be a window of opportunity for them to go ahead and do the Vote of No-Confidence and if they get shot down with that we will watch the next steps they take in this government process
"The Law of oil Settled at a forthcoming meeting"
You've got Maliki who is in trouble - we can go on and on who is bad and who isn't over there - NO I do not want him to be there but what I would really just like to see them get a government in place that supports their economy and they can bicker about who they want in place - No more do I want them to figure out who is going to be our next President do I want to figure out how they need to run themselves
They are a sovereign nation and they need to figure that out and they will slowly but surely - But they need a form of government that works
Passing this is an olive branch from Maliki to the Kurdish people and I think if he can get this passed he may keep them cooled off for a little longer - this helps us immensely because once that is out of the way Shabibi will know how his economy is going to be for the next few years and he and I would certainly like to see this done - would really give him some confidence about his economy and how that oil is going to flow and the payments are going to flow
Remember they are signing these contracts illegally - he doesn't know how long they are going to last - who is going to get the money - how it is going to flow to Baghdad - once all of those are all done he understands what his role is and how he collects money - payments he gets money for it -then he doesn't have to be in conflict with who he gives money to for oil transactions that come in etc - he can take his cut for doing what he does - borrowing the money and loaning money for the transactions- taking his money out - building his reserve, etc - Its done and out of the way
This is the Key piece of legislation for Iraq in general and should have been done a long time ago
They are moving forward with the government - Next best time to do this is when Parliament is back in session June 21 back door on that to try and get around Talabani - Its their government - let them do what they are doing - Please just pass the Oil & Gas Law - that would be great for us and an important thing we want to see - that only leaves several others that need to get done - Get this Oil & Gas Law done and maybe that would give Shabs confidence in the government that the can fight amongst themselves and he can go ahead and get the RV done for the people while they continue to bicker about the government
Great article about Dr Shabibi
How he has been moving forward and all the good about him
He is going to be talking at the World Banking Summit June 26 - 27
CBI is granting more and more licenses to private banks and getting the private sector on board and ready to go
We had an article talking about how the traders on the street are getting hurt by the new banks being able to give out money - they are taking a 6% cut - they are upset because the are cutting out the money and its going to the banks and they are not happy about that because their business is getting hurt by this - not that we want to see any business get hurt but as they grow, that is one of the things that the Central Bank is going to take over and you are going to see these money changers go away
We like to see that happening and seeing more and more articles about that - that must mean they are doing this on the streets and and that tells us they are getting it ready
We talked about the development of the banks and how even Parliament is moving their money out because it has no value and thats one of the things he needs to do once he adds value to get people back into the banking system
Talked about the restrictions on the currency we should be seeing soon and once that it is in place and fully out there the banks are doing what they need to do - Moving them in the right direction to control what they need to control
Government - We talked about all the trade coming into the country - absolutely wonderful to see the expansion and everybody going there - they are locking to Iraq for business
We talked about postponement of the tariffs because these are things that will be inflationary but we have also seen several articles that indicate that they are already in place and testing these in certain areas
Oil and Gas Law ready to be settled - waiting for Parliament to get back & Talking with Kurdistan now to make sure they get all of that taken care of and try to put that out there as a bargaining chip
Talked about the ports being electronic and moving forward with that - Its no longer a place that doesn't have everything it needs electronically - they are ready to go
Vote of No-Confidence - they are working on that - waiting for the Parliament to come back on June 21 - you are going to see lots of articles for both sides - We are not as worried about the outcome of this as we are with the Oil & Gas...Very Positive New Night...Its All Good
And there you have it...
Straight Talkin' Mike On The Straight Talk Express
Bringing You Another Night of Positive News!
The I.Q.D. Team, Ltd.'s News Coverage
for Tuesday, June 12, 2012
CBI / ECONOMY
Greetings to the Iraqi Central Bank Governor Dr Sinan Shabibi
World Banking and Finance Summit 2012 / Managing Economic Transformation in a World of Creditors and Debtors 26-27 June 2012
Allow five banks and 22 political and 10 traders take advantage of them .. 6% of the central bank transactions in dollars go to private pockets!
Central Bank policy emphasizes the development of payments for the civil government banks
Integrity: Iraqi officials have deposited their wealth in foreign banks
Bank: Central Bank to impose new restrictions to reduce the leakage of currency outside
Trade record 247 national companies and 46 foreign companies
External pressures on the government to postpone the tariff
Allawi disclosed for "news": the first sessions of the Sejm will withdraw confidence from Maliki
The law of oil settled at a forthcoming meeting
Launch of electronic information exchange system between the ports of Iraq
HONORABLE MENTION - CHECK THESE OUT - GREAT ARTICLES
Central Banks Are Buying Gold Like It's 1965
The eyes of investors to the Iraqi dinar
NEWS ARTICLE LINKS
What a great night of news, analysis and discussion and Q & A
Listen to the call for all the rest of the news shared and more during the Q & A
SOME GREAT Q & A TONIGHT AS ALWAYS
We are getting closer every day......GET R DONE!!
Conference Call Replay - June 12, 2012
760-569-7699 Pin 769478#
As Always.... Discussion and Analysis of the Latest Iraq, Dinar & RV News....Pre & Post RV Information... Q & A
Every Tues, Thurs & Sun 8PM EST
760-569-7676 769478# or 712222#