Dr. Shabibi – Video – Q&A RV & Redenomination – US Chamber of Commerce – April 19, 2011

Happy Tuesday Dinarians,

6893173_orig[1]For many of you “long-termers” you will have already seen this video of Dr. Shabibi, the Governor of the CBI at that time (April 19, 2011) answering Revaluation and Redenomination Questions at the US Chamber of Conference in Washington DC.

For those of you “newbies” who have been getting nothing but garbage and lies from the Hack Gurus, why not take about 9 minutes to watch this video?  The audio is a bit low, so be sure to turn up your speakers, or read the transcript below.

Please note, the following transcript is from YouTUBE User “Coqui TV”:

Original Footage by: Frothbucket. Video edited by coquidinares.
Date: Abril 19,2011
Location: US Chamber of Commerce Washington, DC

Dr. Shabibi answers a revaluation and redenomination question made by two attendees.

Transcript:

Question: Revaluation
With respect to the ongoing and need of stability in Iraq
and its exchange rate, we did not follow that there is a direct need for a potential revaluation of the currency to its due for domestic and foreign investment in Iraq, and in regard to that, how far you believe we are from a potential revaluation of the Iraqi currency.

Shabibi answer:

Well thank you very much for this question and the … ahmmm ……. even if I know the answer I cannot tell you .. (laughter) the thing is … you cannot have an economist saying without….the answer depends, so the question here is if revaluation is really going to depend on what extent we are going to continue controlling the inflation.. as you know, if you go to the Central Bank website … the first job is maintaining price stability .

So there is a little bit of inflation in Iraq … it use to be 2%… 3% … now is about 5% .

But we are watching that very carefully … If this inflation
continues we will have to revisit the question of exchange rate because revaluation depends on inflation … of course .. the other factors that determine the movement in currencies are a lot … sometimes we look at trade, exports and imports, all the obligations, the balance of payments and all this things …definitely no doubt you look at those … but those are problems related to the development part of the economy.

The question of maintaining a price stability is really something …you see the inflation and all this things….. cause nobody else in the economy is concern with inflation …. the government puts its budget… the government is the spender and the Central Bank its saver…. It’s not very important for them to concentrate on inflation …. so actually the question here is we are going to track and follow the development in inflation first and of course other factors which I mentioned. Second then will determine our exchange rate movement.

Thank you Governor. This may be the same question, so I can understand if you can’t answer. My name is Bob Kelly, I am an Investor in Iraq, the Summit Hotel in the International Zone with the OPEC financing.

Question: Redenomination

I’ve heard a report in the last couple of days That Iraq is about to cut three zeros off the currency …they call that re-denomination that may be the same question (revaluation) that you just received but I wonder if you had any information about that.

Shabibi answer

Well, I mean …. I don’t know whether if it is the same question (revaluation), I think this cutting of three zeros… shouldn’t be exaggerated … actually that is the problem…the question is … just ” re-denomination” …. and …. people writing a lot of articles in the news papers… criticizing the Central Bank…., that is going to …. the value the Iraqi dinar… that is going to depreciate … all kinds of talks. This is a question, just actually, to facilitated payment… ease of counting and all this things…. and of course when you see a lot of figures, you see trillions and huge figures…. if you want to be precise and you see twelve figures or fifteen figures or digits … So I think we have a plan on that.

If you remember … why …. there was not a government decree to add this zeros. It happened because of the course of development of the economy at the beginning of the eighties…. Inflation was very high … Inflation was rampant and therefore … I mean small denoms start not to be use … so government started to add the three zeros at the time…. and of course conditions are different now .

Inflation is under control, exchange rate is manage by the Central Bank…. all these things when you have the zeros you could not manage … not because of fault of the government or the Central Bank (only) … which I think there was but because there were a lot of exogenous (external) factors.

I’m not saying that we are champions now I mean … there were a lot external factors which affected and a lot of people did not know what to do, so they started to add three zeros and all this things.

So now the situation is completely different from that time, you had a high inflation, you have now a low inflation, you had actually something which is a stable macroeconomics situation . At that time the situation was not stable . So the only way to combat all of this things at the time was to increase the denomination and put three zeros.

Continue reading transcript here:
http://coquidinares.forumotion.com/t8504-dr-shabibi-answering-revaluation-and-redenomination-questions#35233

Let me know what you think about this?  Did you appreciate me digging up the truth and the past?  I’d be interested to know if this post has helped you.

Have a GREAT week, 

~ Mr. IQD

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Is Ali Alak The New CBI Governor?

Hello Again Dinarians,

This was sent to me this morning by a good buddy and friend of the Dinar Community Marc G.  – Thanks!

Is Ali Alak The New CBI Governor?  According to the below News Article from Iraqi News Source Xendan.org he is!

Maybe it is too soon – but the CBI.iq website as of Tuesday, Sept. 2nd, in the morning, their website is still not showing the change and still lists Dr. Turki! 

Ali Alak - The New CBI Governor

Ali Alak – Is He Really The New CBI Governor?

Khandan – Iraq’s cabinet decided on Tuesday, taking on the Keywords Secretary General of the Council of Ministers, the Governor of the Central Bank.

Said Dr. Khairallah Hassan, Minister of Trade in a statement to “Khandan”, said the Council of Ministers held its meeting today, was chosen as a new governor of the Central Bank, after it reached the governor of the central bank and agency Abdel Basset Turki retirement age.

He said the Minister of Commerce in the context of his statement that the relationship to fill the position of Governor of the Central Bank would be temporary.

LINK  (or, you can Copy & Past the link:  http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dxendan%2Barabic%26rlz%3D1C1CHFX_enUS469US511%26es_sm%3D93&rurl=translate.google.com&sandbox=0&sl=ar&u=http://www.xendan.org/arabic/drejaA.aspx%3F%3Dhewal%26jmara%3D1582%26Jor%3D2&usg=ALkJrhjUzwEuzWa7UWqQxBv3MGdXD-wzzA )

I’m optimistic and excited if this news is real and is confirmed with additional news articles later today, and finally by seeing the CBI.iq’s website updated.

I really hate to have to mention this WARNING – but the Hack Gurus will certainly use this good news for their next “calling for the RV” rants and try to convince their followers that they have some sort of “inside knowledge” and you just watch, they will say something like: they have actually known about this for a while now, but just could not tell you because they were sworn to secrecy!!!  They are so consistent in their loads of crap and garbage – look it up for yourself, year after year, the same garbage and lies! 

This News Article shows us that Maliki’s grip on the CBI has finally been destroyed (if it is accurate) – since Dr. Turki was put in there by Maliki who used “trumped-up charges” against Dr. Shabibi about 2 years ago. 

We wait to see, but I’m encouraged!

~ Mr. IQD

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EUREKA!!! NY Times Article Confirms Kuwait’s 1991 DINAR “RV”

Happy Monday Dinarians,

I can’t tell you how AWESOME I feel this morning – just minutes ago after I logged in to LJ’s Next Step Skype News Room and I saw a REAL NEWS Article posted by “MyDigitalDr” one of the room’s active members.

This Article is from March 25, 1991 and is from The New York Times (Archive) – It is titled: “AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks” and among many things it specifically talks about Kuwait’s Central Bank’s “RV” of their KWD (Kuwaiti Dinar) after Saddam had invaded Kuwait.  

Here is the article – I have highlited the exchange rate for you.

By DONATELLA LORCH, Special to The New York Times
Published: March 25, 1991

It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.

Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people Continue reading

Hello again Dinarians!

It is turning out to be an EXCELLENT Monday in my humble opinion!

You should be happy about some of the REAL news and have security in knowing the process is in motion and is working!  Please take a look at this Article just posted on the IQD Team Connection’s Website:

Former House Speaker Osama Najafi

Complete House Speaker Osama Najafi, on Saturday, clearance its own end of the age of the parliament.
said a parliamentary source said that “Najafi completed clearance its own in the office of the Presidency of the Council of Representatives, and in conjunction with the end of life of the parliament on Saturday,” he said, adding “It was lift the immunity of all members of Parliament.”

It is said that the parliamentary session ended on Saturday, June 14 from the current, and the new parliament will hold a meeting on June 30, and will be the owner of the power in the legislation of laws broken.

A source from within the Supreme Judicial Council, said earlier that “they intend to arrest warrants issued against the court 50 deputies will be accompanied by memoranda to prevent them from traveling.”

After he sent a Property Claims Commission, the Integrity Commission, and the Office of Financial Supervision list of new deputies involved various issues of corruption. For his part, the decision of Parliament Mohammed al-Khalidi said the parliamentary session will be held after the ratification of the results.

Adding that he will be convening a session of Parliament within 15 days of ratification of the results [by the Iraqi Federal Court], where the first session will witness the vote on the House Speaker and the second session to vote on the selection of the President of the Republic.

Khalidi added that the president will cost the biggest bloc to nominate the Prime Minister [this indicates to me that Maliki is no longer Prime Minister, since they are nominating a new PM] must form a government within 30 days of commissioning.  http://goo.gl/tbu9ZQ

 

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Mailbag Ques? Are you still Optimistic about the IQD?

Happy Monday Dinarians,

Why am I so ‘happy’ you ask with a bit of snarl in your voice?

Well friends, because we are another day closer to the removal of Maliki and the turning around of Iraq’s Political System and Economy which should then in-turn lead us to our desired “end GOOOOOOOOAAAALLL!!!!!!” (FIFA World Cup Fans applauding) of the significant increase in value of the IQD.

Mail-Bag

In today’s mailbag I got a fairly sarcastic comment / question which I’m sharing with you, then giving you my reply to that person.

Here is the original email from that person (name & email removed):

Hey

What do you think now about the Iraqi Dinar?

with all the crisis going on in Iraq

Might in up cant even sell it back be $3,000 up a wild cats ass

Feeling kind a low… spirits lifted would be great if all possible

if not I understand

FIRST NAME

 

Here is my reply to that person:

Hi FIRST,

I am still optimistic – I own only what I can afford to lose.

The Iraqi Federal Courts have to certify the Iraqi Election results after investigating all the formally filed complaints – which were thousands.

There was a news article today which said they expect to release the certification within the next 3 days [Article Link] — And, yes lots of people in Iraq wish they did it before June 15th which is when the new Gov was to start) so they are in Continue reading

A Very Short RANT! by #1GOORU….

Happy Thursdays Dinarians,

I wanted to get this very short RANT! by #1GOORU out to you, rather than hold it for Friday or next week.  I think he/she makes a really good observation and point worth considering!

Rant!Anonymous Name / Handle: #1GOORU
Comment: Ok now, so where are Southern Shaker and some of the other scouts-for-truth these days ? Haven’t heard from anyone in awhile and I know they aren’t just waiting to see who wins the elections. Hope none of us become so complacent that we begin to accept the scumbag dinar liars who are wreaking so much havoc in people’s lives by predicting a huge return on an imminent revaluation while making money off those lies. 
People, just stop buying. Let it all shake down. If you have some, just hold onto them — you have enough. Don’t keep this racket going “just in case”. No dinar sales, no more Continue reading

Great Call Last Night From The IQD Team!

Happy Friday Dinarians!

I’m just popping in with just a very quick note to CONGRATULATE the IQD Team on an excellent call last night. (Link to the call Last Night)

The IQD Team Connection - Logo

They really did an excellent job of breaking down the REAL NEWS regarding the poll results of the Iraqi Election.  Currently the Official Results HAVE NOT been posted, therefore I strongly urge you to listen to their call last night.

Please, do I have to beg???  Please don’t believe any of this Garbage being put out by your favorite Hack Guru!

Yes, it sounds exciting to think it will “RV” this weekend, but you will be sadly disappointed come Monday!  

TIP:  Always… ALWAYS… ALWAYS Check the CBI.iq website for the IQD Rate!

Listen to the IQD Team’s call – know the truth, and have sanity – there is really a lot to be excited about, just be patient and listen to the sound of reason! 🙂

Hey have a GREAT weekend!
~ Mr. IQD

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