8ball (CBI Cash Auction Results): 8BALLS – Focus on Iraq 2/9/12

Keep in mind despite erroneous reports the CBI has talked about the dinar on par with the dollar including Shabibi himself. The SIG report and Iraq’s own 5 year plan both state around 1 to 1.

I WILL NOT ADDRESS ANY FURTHER ISSUES REGARDING THE C/E UNTIL THE TIME TO DO SO. I AM STILL EXTREMELY OPTIMISTIC ON OUR INVESTMENT.

I HAVE ALREADY REPORTED THAT CHINA WHICH OWNS THE LARGEST BANKS IN VN ARE PUSHING LIKE THEY DID LAST YEAR TO MAKE VN ADJUST THEIR RATE.

They introduced me to the tellers and took me to where the safety deposit area was and an area where I could do my private banking when everything was done.

This lack of political and economic stability IMO, is the main reason why this event has not happened yet. So we wait.

Everything at this point is logistics and technical, if a problem arises it gets fixed and we move closer. Things really are great.

What is expected to happen will happen shortly all triggers were pushed we now need to let things flow.

he main one was the DFI protection and as we speculated several months ago it was extended. To us this is disappointing but not unexpected.

REPORTS AGAIN TODAY FURTHER CONFIRMING THAT THE CBI AND IMF REACHED FINAL AGREEMENTS AND THEY ARE READY

Got the Date: June 1st in country RV to occur, the world couple days later. As far as the Rate I was only told ” It’s decent”. Everyone is will be pleased.

The RV will be loaded next week and will start worldwide on June 1st. Yes, that is a Saturday in Iraq. The in country RV will start at Iraqi banks.

I GOT MANY CALLS TODAY. WE ARE IN THE 72 HOUR WINDOW. YOU WILL CASH IN TUESDAY. DONE DONE DONE.

We are expecting it to go live at anytime now. I heard the final one was 8am ..5/22 Wed. All the information from many sources has been positive that everything is done. Because it’s done. There are no holdups.

This means that the Central Bank of Iraq will now release the new rate of 3.42 (most likely tomorrow [Thursday] sometime).

I WILL SAY I’M EXTREMELY EXCITED RIGHT NOW…THE CALL I JUST GOT, I’M REALLY EXCITED. I WAS TOLD…THAT I MAY BE GETTING SOMETHING TONIGHT.

THE DONG IS TO GO AT 2.20 AS WE HEARD. THE DINAR IS STILL WHAT IM HEARING AT 11.68.

we were going to see the rate come out at $1.00 , maybe $1.17 , and it’s going to be a dirty float. And it was going to be allowed to float pretty freely until it climbed pretty rapidly

THERE HAS BEEN SEVERAL CALLS TO ME TODAY AND THEY ARE MOST POSITIVE AND IMMENENT–NOW–AS MANY TIMES BEFORE I HAVE HAD THE SAME ALERT GIVEN ME

“Baghdad has seen a number of provinces in recent days targeting mosques and killed dozens of imambaras of dead and wounded”

“this boycott will continue even after the end of the legislative recess, unless the law of criminalizing the Baath included within the Council’s agenda.”

Warned Committee member Deputy economy and investment/Iraqi/coalition Qusay Juma, the likelihood of damage to the national economy when Iraq’s accession to the WTO because of the lack of a local competitor.

“our concern first and last as politicians and men State and sages and scholars that we keep the Covenant and preserve trust and the rights and judge with justice, equity and achieve social justice…”

“The political situation has intensified in Baghdad and several provinces in the past few days, a series of car bombings and IEDs are the deadliest months ago killing hundreds …”

“The Central Bank is facing charges for its staff in conjunction with State officials in corruption and smuggling of currency operations”

“Kurdistan is at an important juncture, where it cannot afford poor responses by undiplomatic and unknowledgeable officials. Bad representation and wrong decisions now will return things back to the beginning of the twentieth century!”

Iraqi government threatened today to take legal action against companies that export crude oil from Kurdistan to Turkey.

“if concepts and measures are not altered in tandem with the changing of regimes, they will clash — as is currently happening. When we abandon the official exchange rate for the sake of supply and demand…”