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Friday, March 6, 2015

DINAR IRAQ & DONG VIETNAM UPDATE, 6 MARCH

DINAR IRAQ & DONG VIETNAM :Abadi has done a great job in turning the country in the right direction. It is my belief we will see currency change shortly or the country will financially implode.
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NO WHERE IN HISTORY HAS A NATION RELEASED THEIR NEW DENOMS ONE BY ONE…EVER. THE SMALLS WILL COME OUT TOGETHER INCLUDING THE FILS AND 10 CENTS IS NOT AN OPTION IMO. AS FAR AS THE 50 DINAR NOTE IS CONCERNED…ASSUMING THEY GET A RATE OUT WITHIN THE NEXT WEEK OR AT LEAST WITHIN THE SUPPOSED 60 DAY MARK, I DO NOT SEE CASHING THEM IN AT YOUR LOCAL BANK WILL BE A PROBLEM…ON PAR HAS ALWAYS BEEN THE PLAN FROM DAY ONE.
WHEN AND IF THE BUDGET IS TRULY RELEASED, AND FUNDS ARE ALLOCATED, TEN CENTS AND A FLOAT WILL NOT SUFFICE. THEY NEED TO COME OUT STRONG. NOW, IF THEY WANT TO GO BY THEIR ORIGINAL PLAN AND MANAGE A FLOAT FROM A 1-1…THAT IS VERY POSSIBLE. IRAQ HAS A GREEN LIGHT AND I SEE THEM LAYING RUBBER WITH THEIR ECONOMIC AND MONETARY PROBLEMS IN THEIR REAR VIEW MIRROR
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[Q. Once currency is international, won't most banks exchange it?]
A. Once the currency is international, you are correct, most major banks will be exchanging it.
[Q. Is there a scenario, in your opinion, where Iraq would NOT honour any dinar outside of their country?]
A. Yes, but it’s more complicated than that. Iraq doesn’t actually do business “outside” of their country. Every exchange happens at the head desk of the CBI. If they want to move up in the world, they will raise their exchange rate and start doing business with the major world banks.

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HCL IS FINISHED AND IN THE BUDGET…THE BUDGET IS PUBLISHED IN THE GAZETTE …THERE ARE 50 PAGES PUBLISHED INCLUDING GRAPHS AND CHARTS. …10 – 30 CENTS WILL NOT WORK…COMMON SENSE DOES NOT WASH WITH THOSE NUMBERS. WHEN THE BANKING SYSTEM GOES LIVE IT GOES EVERY WHERE, THERE CAN BE NO PRICE FOR THIS HERE AND PRICE FOR THAT THERE, IT JUST DOESN’T WORK. …ARTICLE WE SAW LAST NIGHT…THE CBI SAYS THE DINAR WILL RISE TO STRENGTH IN THE COMING DAYS AND I THINK WE ARE EVER CLOSER TO THIS HAPPENING. THIS IS A COUNTRY REBUILDING ITSELF FROM DUST, THIS IS A CURRENCY COMING OUT WITH SOME HEAVY RESPONSIBILITY…THINGS ARE MOVING VERY NICELY. IN TWO OCCASIONS THE GOI AND THE CBI HAVE TOLD US IN THE COMING DAYS IRAQ WILL RISE.
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VietNamNet Bridge – Nation should stop sacrificing its growth rate for stabilising the economy, Tran Hoang Ngan with the National Advisory Council on Monetary and Financial Policies, tells Viet Nam Economic Times.
2014 was the first time in three years Viet Nam achieved its GDP goal. What are your comments on this success?
In my opinion, it is notable. It shows that our economy is on the road to recovery. In 2012, our growth rate was 5.25 per cent. In 2013 it was 5.42 per cent, and in 2014 it was 5.9 per cent, compared with the set target of 5.8 per cent. However, if we look at the country's growth rate over the past four years, in the context of our natural resources, a population of 90 million people who are intelligent and hard working, and stable policies, a growth rate of less than 5.7 per cent should be considered beneath our potential.
In the last four years, we have had to sacrifice our high growth rate for macroeconomic stabilisation and inflation control. But now our economy has evolved, and it is high time for us to stop sacrificing. The 5.7 per cent growth rate and maintaining a low inflation rate during the past three years have helped raise Viet Nam's international prestige. For 2015, Viet Nam set a growth rate of 6.2 per cent. In my opinion, this goal is doable. However, the growth rate is expected to possibly reach 6.5 per cent, on the grounds that we still have a lot of potential for development.
Do you think the high growth rate could upset the stable macro economy we have tried so hard to maintain over the last four years?
Since 2012, we have been successful in capping inflation. In 2012, the inflation rate was 6.81 per cent. In 2013 it was 6.04 per cent. In 2014 it dropped to 1.84 per cent. However, for 2015, the Government set the inflation rate at about 5 per cent. In my opinion, the rate should be between 5 and 6 per cent this year, so we can support our development. After reviewing Viet Nam's socio-economic development in the past 30 years, I can say an inflation rate between 5 and 7 per cent is appropriate for us. That inflation rate, on the one hand, will help our economic development. On the other, it will help us stabilise our macro economy.
Don't you think a high goal for our economic growth rate could have a negative impact on our economic restructuring process?
I couldn't agree more. There are quite a few weak things happening in the ongoing economic restructuring process. However, promoting a high economic growth rate and economic restructuring always accompany each other, despite some constraints. Yet, I should say, certain successes were achieved in the past few years. For example, in the public investment sector, fragmented investment, waste and the Incremental Capital Output Ratio (ICOR) dropped to 5.03 in 2014 from 6.2 per cent in 2010. I'm confident that when the new Law on Public Investment goes into effect this year, the picture for our public investment sector will look brighter.
During the process of restructuring our State-owned enterprises (SOEs), more than 140 SOEs have been equitised. Meanwhile, commercial bank restructuring has been on the right track, and we have been handling bad debt well. This offers a solid foundation for Viet Nam to achieve a high economic growth rate.
Do you have any worries about the economy?
What worries me about our economy is if we should continue to open it up or if should we stop. There are signs that the world economy is being restored, but it's a slow process. On the other hand, there appear to be many complicated issues in the world that might threaten global economic development. Meanwhile, our trade is quite open, so it's very possible that negative things happening in the world could have an impact on our economy.
In light of all this, I suggest we be cautious. It is projected that in 2015, we will achieve an export turnover of $148 billion and import turnover of $146.5 billion. So our import-export turnover will be about $294 billion, compared with our total GDP of $200 billion. In other words, our economy will be about 47 per cent open. If our economy continues to become more open, our enterprises will face more difficulties, as their competitiveness is still low. This is a factor that will prevent our economy from developing in a sustainable manner.

Thursday, March 5, 2015

OMEGA MAN, TLAR, TONY & DC UPDATES, 5 MARCH

S3A
  • got an email from A group. says to be on the sharp look out...it's gonna be real soon...
    halleleujah
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  • 3-5-15 Tlar: The article implies that the zeros that are being deleted are not the zeros on the currency.

  • She reiterates that they are going to "delete the zeros" and then "restructure the currency".

    If this was a move to lop she would definitely have stated it differently.

    She might have said something like we are going to delete the zeros off the currency.

    It is understood that if you delete the "leading" zeros off the nominal rate, that it follows you would have to restructure the currency.

    Phrasing here is very important as it allows us to see inside the project exactly what they are going to do. Of course this assumes she is an insider with accurate information.

    The way she phrased it, it is an RV only.  If it were a float only, again she would have phrased it differently maybe saying something like the intentions are to allow the currency to get to a dollar and when it does we will restructure the currency.

    She certainly thinks and talks like she is an insider with accurate knowledge of the project, but the question remains she is privy to the actual rate or is just stating this because it has a long time goal of Shabibi's.

    Sumaisem said, in a statement to "Ein Iraq News", "delete the zeros includes two basic objectives", "the deletion of zeros", and the "restructuring of the Iraqi currency"
  • 3-5-15 TNT Tony: On Iraqi television right now they are saying it will revalue in the next few days and it will be the strongest currency in the region. Qi cards got funded electronically, and they have converted the rate.
    We have been informed that on Sunday their banking system will be able to do wires and transfers in Iraq and internationally. We don’t have to wait until Sunday, but everything will be done when it goes into effect on Sunday.

    All the meetings went well and everyone has been given that green light. Worst case, everyone in Iraq expects this to be done by Sunday when the new banking laws come into effect. 
    3-5-15 DC: East to west – life looks really, really good.  I’m very excited about many things.  Tikrit is looking very successful, now in the control of the IDF.  It’s not 100% clean and clear, but they control most of it ahead of schedule.

    Great job!  What that means is that we are ready to go at any time – ANY time!
    In Tikrit, they got most of the people out on Sunday, almost entirely Iraqi-driven.  They did a wonderful job. They did take some casualties, but very few.  They will spend months cleaning up booby-traps, but Iraq took back another major city from nasty jerks who deserve to die.

    Anything related to military actions we are not going to talk about because it’s not worth risking putting a plan or other people in danger.

    The CBI prepped, with some adjustment to rates and now that that is pushed out to the other major banks.  The rate has been pushed up a bit. They had rates loaded in a week ahead of time, and they continued arguing during the Tikrit action and some got quite passionate about it, but we are just waiting for a conclusion.

    They were using this time as a debate, and they will continue up until the RI and beyond. That’s just what is going to happen and that’s fine.

    The CBI has texted it out to everyone else, and the finance ministry is also ready to move forward. The Ministry of the Interior is getting ready for the RV and fixing up the damage from ISIL.  Defense is also supporting all this.

    The Council of Ministers is also supporting Abadi in getting this done.

    Iraqi television is also scrolling that the Iraqi dinar will increase in value in the next few days.  They have said it before, but we have to get to the one-yard line again.

    We are getting this information from all sides including from our new amazing contacts.

    Everyone is ready for this, in the government and elsewhere;  they were mainly watching Tikrit and also debating a few other things. But they are ready.

    In the US, they are supporting what’s going on.  In the past, they haven’t supported Iraq as much, but now they are highly supportive.

    The banks are really pissed, trying to get this done. Some are trying to get people in early for SKRs.

    Actual exchanges have diminished to almost zero in the last few weeks because the expectation is that the RV is upon us. Most are just frustrated and aggravated, like the rest of us. They will be notified after it gets done – some banks will take 4-5 hours, and some will take a day to get this done.

    We are told that we (and the US banks) will not get information until this goes down.  Dealers often get a little advance notice, and the major ones get notice first, up to 72 hours beforehand so they can protect themselves as best they can.

    They cannot tell their clients, of course.  The dealers are now being told that they will be notified 15 minutes after this happens, so they are not too exposed.

    Our anticipation is that this gets done in the next few days.  Tikrit is going well, everyone is ready, and we are just waiting.

    We will be able to do at least one call when this happens, so bye for now!

MAILMAN17 UPDATE, 5 MARCH

Mailman17   NO WHERE IN HISTORY HAS A NATION RELEASED THEIR NEW DENOMS ONE BY ONE...EVER.

THE SMALLS WILL COME OUT TOGETHER INCLUDING THE FILS AND 10 CENTS IS NOT AN OPTION IMO.  

 AS FAR AS THE 50 DINAR NOTE IS CONCERNED...ASSUMING THEY GET A RATE OUT WITHIN THE NEXT WEEK OR AT LEAST WITHIN THE SUPPOSED 60 DAY MARK, I DO NOT SEE CASHING THEM IN AT YOUR LOCAL BANK WILL BE A PROBLEM...

ON PAR HAS ALWAYS BEEN THE PLAN FROM DAY ONE.
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WHEN AND IF THE BUDGET IS TRULY RELEASED, AND FUNDS ARE ALLOCATED, TEN CENTS AND A FLOAT WILL NOT SUFFICE. THEY NEED TO COME OUT STRONG.

NOW, IF THEY WANT TO GO BY THEIR ORIGINAL PLAN AND MANAGE A FLOAT FROM A 1-1...THAT IS VERY POSSIBLE.

 IRAQ HAS A GREEN LIGHT AND I SEE THEM LAYING RUBBER WITH THEIR ECONOMIC AND MONETARY PROBLEMS IN THEIR REAR VIEW MIRROR...JMO.

Mailman17   DOESNT IT SEEM ODD THAT OF ALL THE BILLS IRAQ IS WORRIED ABOUT IS THE ALMOST NON EXISTENT ONES IN THE ACTUAL POSSESSION OF IRAQIS?

LETS FACE IT..THERE ARE BUT A FEW OF THE ACTUAL PRINTED 50'S IN IRAQ. MOST ARE IN OUR HANDS.

THEY LOOK AT THE 50 LIKE THE COINS...USELESS AND THEY ALWAYS HAVE FROM DAY ONE.

WHENEVER IRAQ NEEDED MORE OF A CURRENCY PRINTED...  THEY NEVER DID THE 50.   WHAT WAS OUT WAS OUT.
BUT...THAT SINGLE DENOM IS ALSO THE ONLY DENOM THAT WILL BE REPRESENTED BY THE NEW NOTES ..........

AND IF IRAQ IS TO START A NEW MONETARY REGIME WHICH INCLUDES A NEW BATCH OF NOTES TO REPRESENT THEIR NEW RATE (WHICH I STILL SAY 1-1)........

THEY NEED TO GET THAT PESKY OLD 50 DINAR NOTE OUT OF THE WAY...THE VERY LITTLE AMOUNT THAT IS PRESENT. 

THEY NEED THE NEW NOTES TO REPRESENT THE NEW IRAQ AND THAT WILL FINALIZE DE-DOLLARIZATION.

WE SHOULD BE ABLE TO CASH IN OUR 50 NOTES AT THE BANKS PENDING IRAQ RELEASING THE NEW RATE ASAP.

I OWN QUITE A FEW STACKS MYSELF AND AM NOT WORRIED... LETS SEE WHAT THEY DO IN THE COMING DAYS..JMO  

S3A CHAT UPDATE & JCR3758 TWEETS, 5 MARCH

Stage3Alpha:

OilRat:  March 5, 2015 at 3:30pm Ok guys here's what I got for today.....I have not signed any NDA yet so I can still say this.....I am part of a small group (with major contacts) for Dong exchange and our private wealth manager from a major bank contacted us today and said to be ready by Monday to exchange.

Chef Rob > OilRat Hope so OR! Thx!

OilRat > Chef Rob Me too.....we have not heard from the wealth mgr for over two weeks, so hoping this is it.

OilRat  > JMO....I do not believe groups will go before all the rest.....so the info I'm telling you means you all will be at the banks as well.....JMO


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JCR3758 TWEETS :

 JC ‏@JCR3758 Ok guys can't share too much cause its sensitive. Let's just say that a certain Fin Minister has been talking to a certain PM about an RV...

 JC ‏@JCR3758 Specifically the release rate to offset debts & budget obligations. They concur. They have also gotten the "thumbs up" from a certain "bank"

 JC ‏@JCR3758 So now the timing for the release is on the front burner. Not giving date/rate but we are sitting in an awesome place...stay grounded ;)