My Ladies Saturday Afternoon Update - ARE THINGS GETTING PREDICTABLE?? 1/24/2015 GOOD SATURDAY AFTERNOON EVERYONE THE BUDGET WAS NOT VOTED ON AGAIN BIG BIG SURPRISE...NOT!! PARLIAMENT CAME, THEY SAW, THEY LEFT, HERE IS WHAT WAS ON THE AGENDA AND AGAIN THEY VOTED FOR NOTHING AT ALL, NO BUDGET, AND NOTHING NEW. parliament.iq/details.aspx?EvID=9236 HERE IS WHAT THEY DID TODAY BEFORE ADJOURNING UNTIL MONDAY THE 26TH, IF YOU NOTICE EVERY ARTICLE PERTAINING TO FUNDING OR REQUIRING PAYMENT HAS BEEN POSTPONED. ar.parliament.iq/LiveWebsites/Arabic/Container.aspx?PressReleasesID=13316 THERE ARE SEVERAL THINGS I WANT TO TALK ABOUT TODAY BUT FOR STARTERS I THINK I AM BEING MISQUOTED FROM LAST WEEK SO WHILE WE’RE HERE NOW LET ME CLEAR A FEW THINGS UP. FIRST...WE ARE NOT WAITING ON THE RATE TO BE IN THE BUDGET WE KNOW IT IS IN THERE IN FACT LINE ITEM 28 I THINK CLEARLY SAYS THE RATE IS 1166. THEY ARE NOT PUSHING THE BUDGET BACK BECAUSE THEY NEED A RATE DIRECTLY. I PERSONALLY AM WAITING TO SEE A CURRENCY AT ANY RATE. YOU SEE I HAVE SAID OVER AND OVER THAT BASIC ECONOMICS AND GLOBAL TRADE RULES 101 SAYS YOU NEED TO BUY STUFF WITH MONEY. AT THE PRESENT TIME IRAQ HAS A PROGRAM RATE THAT CAN NOT BE USED ON THE INTERNATIONAL STAGE. SO WE ARE WAITING FOR THEM TO JUST GET THEIR CURRENCY BACK AND HAVE IT BE TRADABLE AT WHATEVER RATE. NOW WHILE WE ARE ON THE SUBJECT OF RATE LET ME SAY THIS, SAUDI IS PRICED BELOW 1USD, QATAR IS BELOW 1USD, DUBAI THE WEALTHIEST OF ARAB STATES IS BELOW 1USD, KUWAIT IS 3+ USD AND JORDAN IS 2+ USD, AND TURKEY THE SAME THING. SO WHAT IS DIFFERENT WITH IRAQ? WHY CANT THEY DO THE SAME? WHY CANT THEY BE LESS THAN 1 USD? WELL THE SIMPLE ANSWER IS BECAUSE ALL THOSE OTHER STATES USE THE USD IN REGULAR TRANSACTIONS. IRAQ HAS DECIDED THEY WILL ONLY USE DINAR. THEY ARE MOVING FROM THE USD. SO FRIENDS HERE IN LIES A PROBLEM. THEY CAN NOT APPLY THEIR CURRENCY AT 1166 OR TOO LOW BECAUSE TO DO SO THEY WOULD NEED TO SUPPLEMENT WITH THE USD WHICH IS JUST WHAT THEY DONT WANT TO DO. ADDITIONALLY THE DINAR WAS NOT DESIGNED TO BE USED IN THIS WAY. ITS PURPOSE AS DESCRIBED BY SHABIBI IS TO BE THE SUPPORT CURRENCY FOR THE ENTIRE BASKET OF CURRENCIES. IT IS SUPPOSE TO BE THE STABILIZER CURRENCY. ARE YOU FOLLOWING ME? SO TO BE THE SUPPORT OR THE STABILIZER MEANS WHAT? IT NEEDS TO BE STRONGER THAN THE STRONGEST LINK. CORRECT? OK NOW MOVING ON. MANY CURRENCIES AROUND THE GLOBE ARE RE PRICING. AND PLEASE FOLKS OF THIS ROOM LETS REFRAIN FROM DINAR LINGO PLEASE. RV IS NOT A TERM I AM FAMILIAR WITH IN THE WORLD OF BANKING. (SO LETS SHOW WE KNOW WHAT WE ARE TALKING ABOUT OK?) NOW MANY CURRENCIES ARE RE PRICING RIGHT? SOME WILL DE PEG SOME WILL SLIDE SOME WILL GAIN BUT IN THE END THERE ARE MANY CENTRAL BANKS HOLDING DINAR AND WHAT DID WE LEARN ABOUT THEIR BALANCE SHEETS? NOVA SPENT 30 MIN EXPLAINING IT DO YOU REMEMBER? WE LEARNED THAT THE DINAR WILL BE HELD ON THE BALANCE SHEETS OF THE CENTRAL BANKS AND BE ABLE TO COUNT AS RESERVES. THIS WAS NOT ABLE TO BE DONE BEFORE, BUT NOW FOREIGN CURRENCY MAY BE ABLE TO REMAIN ON BALANCE SHEETS. THIS IS WHERE THE STABILIZING WILL COME FROM WITH COUNTRIES THAT MAY SLIP. ARE YOU STILL WITH ME? GOOD SO NOW WE CAN DEDUCE FROM ALL THIS KNOWLEDGE WE HAVE THAT THE PRICING OF THE DINAR WILL NEED TO BE STRONG AND WE KNOW THAT BEFORE THAT IT NEEDS TO BE INTERNATIONAL. SO TO RECAP HERE, WE ARE NOT WAITING FOR A RATE IN THE BUDGET. WE ARE SIMPLY WAITING FOR THEM TO PASS THE BUDGET. WHEN THEY PASS THE BUDGET THEY WILL NEED TO BE INTERNATIONAL AND I WILL ASSUME AT THE SAME TIME THEY WILL PRICE THE DINAR SOMEWHERE THAT MAKES SENSE FOR IT TO BE A BENEFIT TO EVERYONE. NOW THAT WE GOT THAT OUT OF THE WAY LETS MOVE ON. THIS WEEK WAS A PRETTY BUSY WEEK FOR ABADI HE MUST BE FEELING SOME JET LAG. HE WAS IN LONDON EARLY IN THE WEEK MEETING WITH THE COALITION OF NATO COUNTRIES TRYING TO CO ORDINATE EFFORTS FOR COMBATING DAASH. HERE IS A TRANSCRIPT AND VIDEO FROM THE STATE DEPARTMENT OF THE MEETING IN LONDON. U.S. Department of State Joint Press Availability with UK Foreign Secretary Hammond and Iraqi Prime Minister Abadi John Kerry, Secretary of State, Foreign and Commonwealth Office, London, United Kingdom, January 22, 2015 m.state.gov/md236209.htm AND HERE IS THE VIDEO OF THE EVENT. link.brightcove/services/player/bcpid1336128748001?bckey=AQ~~,AAAAAGWqYgE~,KxHPzbPALrG119kxMLhATbeQKohSc4Zs&bctid=4005434598001 THIS SPEECH WAS VERY IMPORTANT BUT IF YOU REALLY LISTEN TO IT ABADI IS SAYING OVER AND OVER AGAIN THAT THEIR ECONOMIC SITUATION IS READY TO IMPROVE BUT RIGHT NOW THEY ARE CHALLENGED WITH FUNDS. THEN WE HAVE THIS FROM YESTERDAY. ABADI WAS IN DAVOS AND HE WAS GOING ON ABOUT THE ECONOMY OF IRAQ AND THE VISION FOR THE FUTURE AND AGAIN HE WAS SAYING THEY NEEDED TO PASS THE BUDGET, AND THEY NEEDED FOREIGN INVESTMENTS AND SUPPORT FROM EVERYONE TO MOVE INTO AN ECONOMIC REALITY. SO I MAY BE DOING WHAT I ACCUSE ALL OF YOU DOING ALL THE TIME I MAY BE JUMPING AT SHADOWS BUT IT JUST SEEMED TO ME THAT ABADI WAS SPEAKING TO A LARGER FORCE THAN THE CURRENT AUDIENCE. HE WAS CLEARLY SPEAKING TO DUKE AND DUKE, BUT YOU LISTEN AND THEN YOU DECIDE FOR YOURSELF. I HAVE HERE FOR YOU THE TRANSCRIPT AND THE ENTIRE VIDEO. weforum.org/sessions/summary/vision-iraq HERE IS THE VIDEO AND HERE IS THE TRANSCRIPT TO FOLLOW ALONG pmo.iq/pme/press2015en/23-1-20154en.htm SO THIS WAS A GOOD DAY YESTERDAY AND THESE SPEECHES SPEAK VOLUMES TO WHAT WE CAN EXPECT IN THE NEAR FUTURE. AFTER THE DAY IN THE ECONOMIC FORUM ABADI MET WITH THE HEAD OF THE WORLD BANK TO DISCUSS THE GOVERNMENTS ROLE IN RESTRUCTURING AND REFORMING IRAQI ECONOMY. WAIT WHAT? ABADI MET WITH WHOM? SO THIS IS A FIRST THAT THE BANKERS ARE PLAYING NICE WITH THE POLITICIANS. AND WHAT IS EVEN MORE AMAZING IS THEY APPEAR TO BE ON THE SAME PAGE. SO ONCE AGAIN DARE WE GET HOPEFUL AT THIS POINT? HERE IS THE ARTICLE FOR YOU TO READ AND MAKE YOUR DETERMINATION. Abadi, head of the World Bank and discuss the governments efforts to restructure and reform the Iraqi economy Sat, 24 January 2 / January 2015 00:47 alliraqnews/2011-04-18-02-57-37/164360-2015-01-23-21-48-16.html SO NOW WE JUST TOOK A SPIN THROUGH IRAQ, WELL HOW ABOUT IF WE TAKE A LOOK AROUND THE GLOBE FOR A MINUTE. WHAT’S HAPPENING WITH OIL? HOW ABOUT GOLD? AND WHAT ON EARTH IS HAPPENING WITH THE DOLLAR INDEX? MY GOODNESS YOU COULD GET DIZZY. I’M NOT GOING TO GO INTO IT TO DEEPLY HERE BUT LETS HAVE A LOOK AT THESE CHARTS. THEY GO BACK TO 1946 AND YOU CAN SEE WHERE THE DOLLAR, GOLD, OIL PINS FALL. THEN COMPARE IT TO TODAY, SEEMS THINGS ARE REPEATING OR AT LEAST BECOMING PREDICTABLE. BACKDOC GOES INTO VERY DEEP DETAILS AND EXPLAINED IT JUST PERFECTLY ON HERE YESTERDAY. BUT HAVE A LOOK AT SOME VISUAL AIDS TO MAYBE MAKE THINGS CLEARER. HERE IS THE FEDERAL RESERVE SUMMARY OF THE DOLLAR INDEX GOING BACK YEARS. federalreserve.gov/releases/h10/summary/indexn96_b.htm HERE IS MACRO TRENDS macrotrends.net/1334/dollar-gold-and-oil-historical-chart AND HERE IS THE DOLLAR INDEX HISTORICAL CHARTS macrotrends.net/1329/us-dollar-index-historical-chart NOW HERE IS AN ARTICLE THAT SHOWS US WE HAVE BEEN HERE BEFORE. THE PATTERN IS REPEATING TO A DEGREE. THIS IS FROM OCTOBER OF 2014 BEFORE ANY OF KNEW WHERE WE WOULD BE TODAY. SO YOU READ IT AND SEE IF YOU AGREE. businessinsider/what-the-strong-dollar-does-to-yellow-and-black-gold-and-why-were-seeing-green-2014-10 NOW AT THE END OF ALL THIS WHAT DOES IT MEAN?? I THINK WHEN YOU TAKE THE GLOBAL CORRECTIONS THAT ARE TAKING PLACE, THE STRIFE IRAQ IS FACING WITH OUT A CURRENCY, THE MESSAGE ABADI SEEMS TO BE SENDING TO DUKE AND DUKE AND THE REASONING FOR THE JOB BEHIND THE DINAR I HAVE TO CONTINUE TO SAY WE ARE SO VERY CLOSE. DON’T PLAN A PARTY JUST YET AND DON’T UNCORK THE CHAMPAGNE, BUT STAY ALERT FOR THE SIGNALS. FRIENDS VERY VERY VERY SOON I THINK WE WILL BE OFF THIS RIDE AND ON TO BIGGER BETTER THINGS. ENJOY YOUR WEEKEND AND HUGS AND LOVE TO ALL…MY LADIES.
Posted on: Sun, 25 Jan 2015 01:53:05 +0000
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