American Contractor - June 23, 2011

There has been some notable progress in Iraq this week. The single
and only state run media, the Al-Iraqiya News channel, has been
broadcasting highlights of the meetings of the Iraqi Government.
In particular, the meetings of the Council of Ministries. In
attendance and in charge is Prime Minister, Nuri Maliki and the
rest of his inner council who listened to speeches and reports from
various members of the Iraqi Government. Each member who attended
the meeting gave his ministry or department a report that is then
forwarded to the Ministry Council. The meetings agenda was to
report to PM Maliki what they were going to accomplish for the
Iraqi people. One individual who was summoned by the Council of
Ministry to give a detailed report was Dr. Sinan Al-Shabibi, the
Governor of the Central Bank. There was no advance notification
for the Governor of the Central bank to report to the Council of
Ministry. Dr. Shabibi learned of his requested presence from a
sealed envelope delivered by an Iraqi Army Officer of the Elite
Peshmerga. Dr. Shabibi received the envelope and was surprised of
its contents summoning him to the Council of Ministries. The
letter did not give a reason as to why he was being summoned only
that his presence was required at 3:15 PM. Naturally, Dr Shabibi
grabbed several various reports on different topics and also
included the Re-denomination Revaluation Report of 2011. After
being searched by PM Maliki body guards (the Peshmerga Soldiers) he
entered the side entrance of the Council chambers. As the meeting
began he was asked specifically by PM Maliki what his Central Bank
was doing for the Iraqi people in the coming months. His actual
time inside the Ministry meeting was very brief as Dr. Shabibi read
from a prepared document that his research and economist section
had written just for meetings like these. He steered away from
mentioning anything about the Re-denomination and Revaluation
report that he carried inside his leather brief case. Dr. Shabibi
did not mention any rates of the currency or any of the remaining
year currency projections. He kept it brief and did not reveal
anything to anyone on that topic. The Council of Ministry members
did not ask about that topic either as the agenda of the meeting
was to only find out what the intentions were in terms of progress
for the Iraqi people. Actually, those type of questions were more
for the ministries and not for the Governor of the Central Bank.
My only guess is that the only reason he was even summoned to the
meeting was in regards to control.

Starting next month both Iraq State Banks will be giving out 5
million dinar loans or approximately $4,200 loans to government
employees who are fortunate enough to give their land as
collateral. No one in Iraq gets a loan with out some sort of
collateral such as property or possessions that are of value.
Iraqi banks have still not entered into the 21st century and there
are still no credit checks in this emerging market. No property no
loan.

Close associates of mine have stated that Chapter Seven will
continue on through till the end of the year. The end of the year
is not conclusive however, it will be decided in December 2011 if
Chapter Seven will continue into 2012.

The Development Fund for Iraq or better known as the DFI as I've
mentioned in my last post will continue another year. All the
funds the Central Bank has will remain in the New York Federal
Reserve. Nothing changes but the executive signature. Control of
the account remains with the Central Bank as it always since 2004.

Getting and reading emails containing lots of hype in regards to
the Iraq dinar currency for the end of June, which would be nice if
it were true. The Trade Bank incident has got everyone scared and
with good reason. The Central Bank is no longer in control of the
Trade Bank.


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American Contractor

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American Contractor

First off, this post was from yesterday. Second, his information is to detailed and raises some serious red flags. If he is able to get these types of details regarding what type of paperwork shabs carries in his briefcase at a specific time then i do believe he could share more detailed info regarding this roller coaster. I could be totally wrong and if so ill be the first to apologize, but i feel pretty confident in sharing this. There is alot of positive news pointing towards a very near end for me to buy into ac,s post

SO JUST HOW RELIABLE IS THIS GUY WITH HIS INTEL???? JUST WONDERING BECAUSE EVERYONE ELSE SEEMS TO BE HEDGING TOWARD AN END TO THIS RIDE, BUT FROM THE LOOKS OF THIS, THE RIDE IS STILL GOING AND ACCORDING TO HIM WILL BE GOING FOR A LONG TIME......SOMEONE GIVE THIS A LITTLE CLARIFICATION IF YOU CAN BECAUSE THIS LOOKS VERY DISAPPOINTING! [b]

Gmansaid wrote:I have seen fewer red flags on the slalom course!

A/C has a reputation for projecting the R/V months down the road. I do not believe this post from him. The DFI to continue for a year? Chapter 7 to continue? Really? Why is Iraq operating commercially outside of the restrictions imposed by chapter 7? This post goes against everything I have been exposed to over the last several months.

A/C is welcome to have an opinion, everyone else has the freedom to accept or reject it.

No disrespect, A/C but I personally do not buy into it.

Thank you just the same though.

:cheers: Thank goodness!!! I wasnt familiar with A/C and that was very worrisome to me....I feel better now! Thanks G-Man!

The American Contractor knew the DFI was extended....he must be a paid government agent.


Why is he always right....

q77 wrote:The American Contractor knew the DFI was extended....he must be a paid government agent.


Why is he always right....

Of course he's a paid agent, look at the name - "American Contractor"....LOL