Mike’s summarizes tonights News:
Lots of things going on over the weekend and today We discussed Central Bank coming out with news (recycled) articles from October – first time probably talking a little bit about an exchange rate being equal to a dollar One of the reasons we think they are bringing this out now versus before is to start educating the people on the new currency…we’ve read that needs to be part of what they are going to to do….. What do they need to do? They need to tell the people that the new currency is going to be at least as valuable as the dollars that they hold now because if they dont tell them that they are as valuable as the dollars they hold now they may have a run on the bank for people to get those dollars and go out and exchange them with Syria and Iran because there is a profitability issue for them to be able to go ahead and do that now Thats why we are seeing these articles……Dont get fired up in the community about it all…If it does come out one to one were very happy at that point in time….It doesnt mean its the beyond all end all.. They are not going to announce it in the paper before it happens saying exactly what the exchange rate will be..THATS NOT GOING TO HAPPEN… They are giving the people some idea so they can be educated about the money they are about to receive and the new money they will see in the street, so they don’t fear it…part of that education campaign
We talked about the US Foreign Minister & the Economic Committee came over saying we need to support the Banking system
We talked about the number of Foreign and registered companies coming in during the month of Jan was 123 (29 national companies) – extremely huge…..
Kurds before this weekend submitted a paper which is Plan B….trying to establish a bigger majority so they can get a bigger voice in the upcoming National Meeting – starting to see some political hankering going on with that…they want Erbil done and as we have seen they have a plan to get that done…
Talked about a Road map on getting people together…talking about talking to get things done.
We talked about the 3 political presidential blocs agreed on some of this stuff and they are meeting to talk about what is in these agreements so they can go ahead and come out jointly and announce things shortly probably during this National Meeting All this needs to be hammered out as we have talked about …we are seeing the political process from the inside out…..alot of things go on in these meetings…one day things are fine…the next day someone walks out because they served sandwiches instead of vegetables… very picky like that…..as you go thru the news you might see some negative things come out but it is part of the whole bargaining process as they go thru…not pretty sometimes but at the end they will come out at the National Meeting and announce the unified government and show the world they are open ready to do business and they are open as one entity with 3 regions that can do business and one head that can do business together as they have decided in their constitution
We Talked about the Arab Summit – Katar & Kuwait have agreed to come to the Arab Summit – excited about that because Kuwait would not come if they had bad relations or werent thinking about mending things as they go forward with iraq…Very very positive
We’ve seen they have a way to distribute the 140 money..talking about it and plans out there and in the works…
All in the works..moving forward and very positive…all good things from this standpoint Doesnt mean it will happen overnight..its a process they are going thru…we are starting to see this process come thru….We take a deep breath and we look at it and say okay…all of these things coming thru …lets get Parliament back in and lets start voting on some of these things so we can come out and announce these things.