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

WHAT?!!! Iraq launches its first satellite – TigriSat

Happy Monday Dinarians,

WHAT!!!  Can you believe that Iarq has LAUNCHED their first SATELLITE in to Space?

I know, you are expecting me to bash some guru, or give you news as it relates to the currency of Iraq, or even this current mess with ISIS, but in a Million Years I NEVER EVER EXPECTED that I would be posting a real NEWS Article like this one!!!!  Take a look:

Iraq to launch its 1st satellite into space, TigriSat, to study dust storms.

Baghdad (IraqiNews.com) On Thursday the Iraq Ministry of Science and Technology announced that Iraq plans to launch its first satellite for scientific studies, this evening, from a base in northern Russia.

A three-unit CubeSat, TigriSat, is the first satellite to be launched for Iraq. Built for the country’s Continue reading

BREAKING!!!! Maliki OUT – Chalabi IN, as Iraq’s new Prime Minister!

UPDATE: LINK TO ORIGINAL ARTICLE ARE WORKING AGAIN – CONFIRMED: 11:50AM (EST) Tuesday, June 17th, 2014.

BREAKING NEWS DINARIANS!!!

We understand from the article below that “Dictator” Maliki is OUT – and that Hakim’s #1 pick for Prime Minister of Iraq is Ahmed Chalabi!!!

From AlmashriqNews.com:

Is this man the new Prime Minister of Iraq?

Is this man the new Prime Minister of Iraq?

Will chair the opening session of the new parliament and government rescue of the free and the citizen and the other blocks, headed by Chalabi

I learned (Orient) from sources in the national coalition that trend tends to call for the convening of the first meeting of the House of Representatives after the ratification of the results of parliamentary elections yesterday to elect the President of the Age, which Adnan al-Janabi of the national list and go to the election of the President of the Republic to proceed with the nomination of Ahmed Chalabi of the National Coalition prime minister.
They confirmed the information leaked to Continue reading

HOTT!!! Sources: Al-Maliki is ready to cede Third Mandate to not be Prosecuted!!!!

Happy Thursday Dinarians,

Even though this news does not have anything to do with our favorite Hack Gurus, I could not resist re-posting it for you.  Thanks to Marc G from my “Anti Hack Guru” Skype Room for bringing this Article to our attention!  Enjoy!

Don’t cry Maliki, they just HATE you!!!

Baghdad/Orr news

Publication in the National Alliance said that the head of State of law Coalition Nuri al-Maliki agreed to the demand of the masses Coalition rejects third term. The source said that the outgoing Prime Minister, realizing that winning a third term in Office after his coalition was impossible on less Continue reading

Talabani Lives!!! A video of Talabani voting!

Happy Monday Dinarians!

To quote Mark Twain….

“The rumors of my death have been greatly exaggerated”

I just watched the Video of Talabani voting – he is in a wheelchair, and does look like a stroke / heart attack survivor – but he clearly is alive!  

Thanks to both Marc G who posted it in our Skype Room, and also to Red Lily who originally found the video and told Marc.

That is amazing he is still alive!  I really thought he was dead! I hope he gets a front row seat when they HANG that bastard Maliki!!!!

Two more days to go before the Iraqi Elections!  

~ Mr. IQD

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