Tariq's Take (3/20/2017)

In the practice of law they have a saying ... "never ask a witness a question that you don't already know the answer to".  In the O.J. Simpson trial Chris Darden had O.J. try the gloves on in front of the jury, convinced that they had to fit him.  When they appeared too tight it left doubt in the minds of the jurors.  (I read that O.J. just went without his arthritis medication for a few days which resulted in his hands swelling to throw the jury off in the event of a glove demonstration, but I digress).  Darden had never witnessed O.J. putting the gloves on so he didn't know how they would fit.  A colossal blunder. 

Sunday the IQD Team did a conference call where they introduced a man from Iraq named Tariq who they claim has worked as an interpreter for US forces.  The idea was to get the take of somebody who lives in Iraq and knows Arabic and can offer a qualified view on what is being said in Iraq.  During the course of the call one of the panel members (Shannan I believe - about 45 minutes in) asked him about the face value of the new dinar that will be issued.  His response wasn't exactly what they were expecting.  He insisted that a 25K IQD note will be exchanged for  a new 25 note.  He explained that if it was a 1:1 exchange there would be no resulting reduction in the money supply.  Without using the word, he was basically saying that Iraq is going to lop.  OOPS!  Gotta prep those interviewees a tad better in the future!

The panel spent most of the rest of the conference call trying to explain how Tariq is young, doesn't have access to the same articles that they do, doesn't know what they know .... yada yada.  But they never really addressed the main point he was making, that a 1:1 exchange accomplishes nothing when it comes to one of the CBI's stated goals of reducing the amount of dinar in circulation.  I'd say maybe the fact that he lives there and hears what's being said and knows the language gives him a better grasp rather than a worse one.  JMO.

http://dinardouchebags.blogspot.com/2012/03/tariqs-take.html

LOL!  I love that story, Sam!!

BondLady's 3/20/2012 chat:

We heard tonight from our friend Tariq straight from Iraq…. Diana reminded everyone about what has happened to Tariq with the difficulties he has had in obtaining his VISA to get back to the US after working with our troops….

He is doing very well….for all of you who have followed his plight he was a translator who helped our troops He helped out alot of people in Iraq even after the war ended he helped to out contractors who were doing things that were wrong

He has been trying to get a Visa to get out of the country with no luck..He finally got a invitation to work with Mircosoft Technologies after he got certified and will be coming to the US in April –


He has applied for his Business Visa to be able to attend and come to the US He is asking anyone who has any kind of product, service, etc that he can help you market in Iraq, he would love to hear from you and if your product or service is accepted, he will meet with you while he is here in April in Orlando

He updated us a little bit about what is going on in Iraq..it was 4AM in Iraq… He talked about the people being educated and being able to understand that there is going to be some sort of revalue soon

He is excited about the value going to be added to the currency….in his words the RV is much more of a reality now…getting closer day by day…all the steps are being taken…printing the money and getting everything thru for that process

He understands there is a training period going on – the government employees are the first being taken thru this process   He talked about that it would be a smooth process and that it is going to be a 2 yr process

They understand the old currencies and the new currencies will work together throughout that 2 yr process so they can make the exchange very easy and how noone should be in a rush to cash in their dinars.

.there will be time One of the things he did say – it was his opinion that the currency would not revalue until after the Arab Summit because of the amount of security and how they need to make sure that there is nothing going on…

he even talked about security coming to his home and checking the place where he lives day in and day checking to be sure noone will do any harm to the people coming in for the Summit

He also said that there would be, as we have said before, when the RV occurs there will be a tremendous amount of confusion and that they want to help decrease that confusion going on at the same time….

makes perfect sense when you think about it…and common sense as we use on this call that thats going to happen in that manner He talked about the currency being exchanged only at the govt banks and not the private banks which is good so the govt can control that – they all understand that all of the things we read tonight he told us about and re-confirmed alot of things we have said in the past and they are ready for that

The government seems to be on track moving forward there seems to be a problem with the Iraqi list that has been avoided…still seeing that play out and we still think we will see the Natl Conf before the Summit and that they will all come together getting their government moving in the right direction

Oil revenues expected to double and we heard it from Tariq they are drilling all over the country and how the economy and things are moving in very positive light When Tariq was on our call in the past, he was not quite sure about this whole RV process…he has since then changed his opinion and if you did not have a chance to hear him speak you will want to listen to the excitement in his voice when he was talking about all that is going on in the country on the replay

News recap…. CBI Makes sense when Tariq talked about the government employees being the 1st group of people to get the information out to from the government…this makes alot of sense to me know that this is what they are doing letting the retirees know what they are trying to do ….

more education to let them know that things are changing…to get ready for the change and as Tariq said he understands that there is going to be change and it is going to be a very profitable change for them

Great that we have had confirmation about the training and this is exactly what they are telling us again tonight to let them know that things are changing It sounds like they all seem to understand what that process is inside the country and that internal process and they are not fearful of that process…sounds like it all working like thought it was

We read a Great article stating “The Central Bank of Iraq has reached advanced stages of preparation for the project to delete the three zeroes from the Iraqi currency, and after obtaining approval from the federal government to implement it will be working on a larger scale as a project is a strategic interest to the general public of Iraqi.” Tariq expressed this same sentiment

As we have discussed, what we have to realize is what is going to happen inside the country and outside of the country are two different things….

they will reduce the level in country but over here, we will get an exchange rate outside the country because we do not have to exchange our dinars…we do not need it for every day so we will get an exchange rate outside the country so we will get whatever the CBI rate is ..we do not have to exchange ours…

it is for the local economy that they are doing this ……..so whatever that value is will buy things…it will be a larger value but we will get an exchange rate – how they determine that exchange rate would have to be a straight exchange rate per how many dinars you turn in – because they are going to run concurrent….he talked about it running for 2 yrs…run side by side

The government seems to be on track moving forward there seems to be a problem with the Iraqi list that has been avoided…still seeing that play out and we still think we will see the Natl Conf before the Summit and that they will all come together getting their government moving in the right direction

Oil revenues expected to double and we heard it from Tariq they are drilling all over the country and how the economy and things are moving in very positive light When Tariq was on our call in the past, he was not quite sure about this whole RV process…he has since then changed his opinion and if you did not have a chance to hear him speak you will want to listen to the excitement in his voice when he was talking about all that is going on in the country on the replay


We discussed an article – key in this article – They took 2 billion US dollars – they are de-dollarizing the economy taking that off and forcing the Iraqi people to use the dinar

You can see that the street changers as Tariq even talked about tonight are trying to make a profit out there so they are noticing these dollars are coming off the market

They are trying to make their profit because they are getting scarce and we know they have to de-dollarize to have them use only one currency and eventually that currency has to be worth more than what that dollar can buy them or Tariq will continue to do what he does – go after the street changers and get dollars for his dinars so he can buy more of what he can in the country…..

Huge to see de-dollarization happening – looks like it is going on

To hear Tariq come on and actually tell us what we have been saying is actually happening and sees it out in the streets and in the news and that he understands this is very important………is all very very good

Turning to the government… We read an article……All oil is bought with dollars – would love to have that changed to dinar….You may ask yourself why would they want to do that?

Tariq said this tonight on the call… …these are from Economic Committees – 40% of the people work for the government -they understand that they need to increase the value of their dinar so it would seem right to them to say hey lets buy oil with our our dinar to increase the value of our dinar so that we can have more value…

the dollars are disappearing from the streets…the value has not been added to the system yet where they have an exchange rate thats comparable to what it should be So you’ve got these economic comittees saying hey lets do that….

well that would be very difficult to do that because if they started to do that the US would smack them down very quickly…because we want to keep continuing using the oil dollar as we move forward so you can see where they are starting to get some of these ideas to increase the value….they understand they need to increase the value and as Tariq said he understands that there has to be a revaluation…some sort of RV…they have to add value to the dinar so they can use it in the everyday…

Iraq renewed its threat to boycott the govt if there are not met in 72 hrs…then denied it later sounds like they are playing hardball right now trying to get this natl. conv together and they are trying to get the summit together and sounds like they are really batting everything around in the political arena all positive articles I read today…this was the only negative thing we read today…things are moving forward

We discussed Finance will adopt the customs tarrif June 1, 2012…”the application of the customs tariff would help facilitate Iraq’s accesion to the WTO” moving things forward very quickly….they know what they are doing….dominoes are in place….sounds like they are working forward toward the WTO – want to be a good member in the WTO….and they need to have their taxes and tariffs in place and that they have a plan for their taxes and tariffs…..and they definetely have to RV before they are in place.DONE

There's more coming tomorrow.