How Close Are We Really To Deleting The Zeros?

This is a great post by TLAR. I really think he is pretty darn close on his synopsis, although I am not one to ever underestimate Maliki. Recently there has been no news that I feel is relevant to currency reform, but this article I believe has some relevance. Enjoy this read because I think it is as good as it gets. Let's hope that the project finally gets implemented! I still think there are laws that need to be passed and the stable government prior to the major appreciation we are after, although .86 would be awsome at this point! I have never thought that "deleting the zeros" means pulling the 3 zero notes off the streets, although it is in their best interest to get as many of the 3 zero notes off the streets as possible prior to any significant appreciation. There has been plenty of CBI articles and statements talking about removing the 3 zeros from the nominal value and that is exactly what TLAR is talking about here. This is the way I think it is going to happen and then appreciate from that point. Delete the damn zeros already would ya!!

Maliki and his son – Massive corruption in بسماية his commission ($ 750 million)!!

Ali al-Quraishi: confirm the documents obtained by (the writings of) the involvement of Prime Minister Nuri al-Maliki personally as deal corruption of their respective fields, this time the project بسماية residential threatened to fail and that Maliki is seeking now to adopt a resolution to sell the entire project to the Rafidain and Rasheed to cover the funding crisis which makes these banks vulnerable for bankruptcy, although that all and Daúahma is the savings of citizens, not government funds…

TLAR Comment - A lot has gone on in the last week. Maliki and his son are implicated in a $750 million corruption case (article one). People are coming out more and more, apparently unafraid of making public accusations against Maliki and his government’s corruption and theft. This chorus of accusations are getting louder as we come closer to the election time. I expect to see much more of this in the coming month graduating into accusations of abuses of power. So far the press is not afraid to put these stories out. As more accusations surface, IMO it will feed upon itself. Maliki is definitely not going to be the PM and he will be lucky in my opinion if he is not charged before the end of his term.

Because of all the government and private corruption, this week Iraq has everybody signing an agreement that the constitution will be the document by which everybody will adhere to. This is accompanied by a document that also will be signed by all former and present government MP’s that is a pledge to not steal money from the state under heavy penalty. Everybody in government is required to sign these documents. Iraq has made the top five in government corruption over the last few years. They are serious to change that and they want the institutions cleaned up. A real attempt is being made to clean up their government and it’s image. New protests are taking place by the people that are demanding accountability in attempt to rid Iraq of the corruption. They will succeed.
Iraq is finally making real economic process. Article after article now deals with their desire to make it easy to invest in the country. Parliament has been on a vengeance to cancel all the old laws from the Saddam era dealing with the economy and replacing them with laws that closely mimic laws in other countries that have friendly investment climates. Economic reform is taking place a little at a time but there exists now a package of laws friendly to investors that has already passed the Finance Committee, the Council of Ministers, the Economic Committee and the Planning Committee. It is in Parliament to be discussed then voted on. Hopefully they will be expeditious in passing these laws.

Parliament is showing signs of coming of age. In the past Nujaifi had trouble getting a quorum. Different blocks constantly were boycotting because they did not want to discuss or vote on something that their block was against. Iraqiya and the National Alliance we the most guilty of this. It shut parliament down again and again over the last few years to the point that independent MP’s and some smaller groups also started coming to parliament haphazardly. It got so bad that Nujaifi had said to all members, if you miss a meeting you will be fined. Even that did not get the MP’s to show and parliament during those years was lucky if they could get a quorum to meet. During these years, Maliki and his Executive Branch took advantage of the lack of attendance and he tried to become a dictator of Iraq. Today that has changed. As the power shifts from the executive to parliament, attendance is going up. I do not remember when they could not get a quorum. Parliament is finally taking on its role as the law makers and as a result we have seen a marked shift in the power struggle that has plaqued Iraqi politics since Maliki was sworn in, in 2010.

THE CURRENCY. Most of you I realize could care less about the politics or a shift in power. They are a critical part of where we are on the currency. Maliki has been the guy who has all but stalled this since he took office in November of 2010 as Prime Minister. He has interfered with the bank over and over in an attempt to make the reserves part of his personal sandbox. Shabibi kept him at bay as did Turki. Both made sure the “state funds (reserves)” were kept a safe distance and out of Maliki’s grasp. Shabibi placed most of the reserves out of country and denied Maliki the ability to get his hands on them either directly or in loans. We know eventually that cost him his job as Maliki brought unfounded charges against him. Someday he will be exonerated. Turki, hand picked by6 Maliki in Maliki’s attempt to control the CBI and have access to the reserves, immediately declared the banks independence and stated the reserves were not to be used by the government. Maliki tried to remove him as acting governor. Even when the CBI was to be granted the monies ($80 billion) that had been held by banks because of Chapter VII and Maliki stated he was going to get this, Turki told him no that those we not going to pass to him. Maliki brought bogus charges against Turki that were proven false. We know Turki survived Maliki and has just resigned. He will be replaced by parliament soon most likely by a well qualified man that served under Shabibi and helped develop the “delete the zeros” plan. Here’s what we do know:

1. About a month ago an article by a member of the Finance Committee stated the intention of delete the zeros was to delete the leading zeros. Leading zeros are only found in the exchange rate. .00086

2. In an interview given by two different members of the Finance Committee on different dates, both indicated the parts and pieces of how a budget is put together. The finance Committees job is to build a budget. Both members indicated the parts such as oil out put, oil revenue, state expenditure etc. Both ended the interviews with “we figured the budgets based on 1.16 dinars per dollar”. This would indicate .86 cents as the value of 1 dinar when paired with the US dollar. That is dropping the leading zeros off the exchange rate and is also equal to 1.16 dinars as stated by two members of the Finance Committee.

3. Again in a latter interview it was stated that the budgets for 2015 and 2016 had just been put together using 1.16 dinars per dollar.

4. About 3 days ago Hati, who is the second in charge of the Finance said that the CBI and the Finance Committee had agreed to delete the zeros in 2014. Logically speaking if they pass the budget (now in parliament for discussion and vote) they would have to delete the zeros before they can open and operate on the 2014 budget.

5. Two days ago Mr. Hati gave and interview again that suggested they should quickly pass a law to delete the zeros if they are going to go ahead and delete the zeros in October as has been planned. IMO the purpose of this law, although not necessary to do, insures that Maliki would be going against this law if he again attempts to stall or stop the deletion of the zeros. That’s just a guess mind you but I can’t think of any other reason for this law to be put on the books.
 
SUMMARY. The one thing that is definitely missing in all these back and forth articles on the merits of the deletion of the zeros is Maliki. He has been very quiet. In the past he spoke out against this and he had his army of minions make an orchestrated organized opposition to the project. That seems to be mysteriously absent. I think it is possible that he won’t be able to mount an effective block this time. The loss of prestige and power is definitely effecting his ability to fight. We know he has already moved his family out of Iraq along with the families of the heads of his party. His grip on power is being eroded daily and it is my belief at some point he will quickly leave Iraq to run from prosecution. I think this time we will see the completion to this project. The window seems to be sometime in the next 3-4 months, maybe as early as October of 2013. Don’t listen to the gurus. They are always full of Shiite. I was going to include 4 more articles with this, email but I won’t abuse you with more stuff to read. Anyone wanting supporting articles just email me and I will send them to you. 
~ TLAR

Great to have something encouraging to post. The amount of relevant news for the past several weeks has been dismal. I hope TLAR has things right. I kind of think like he does, but I still think we are looking at the beginning of 2014 through June sometime before the policy gets implemented. Hope I am wrong.

I will admit, have totally moved away from anything happening THIS year. 2014 is what is in my mind.  All I have to do is hear someone say that something is going to happen this year and I shut down  and move on.  I just hope it isn't as late as you're thinking Di Narino.

nope nothing happening this year.

I hope to see something this year.. but i'm sure i'm not the only one..
I think you will see confirming reports this year though leading to what may or may not happen next year.. which to be honest i'll settle with just news reports confirming what will happen next year, and so far I have been like a pig in mud these last few days.. all great reports and exciting times.. lets hope the post keep coming to ring us into the new years!

after 2014 when  m is re elected one way or another  you can keep dreaming

remember we are only as close as thenext guru says

No way Maliki gets another term. If he does, I'm selling.

di narino you are talking abot the mid east i will bet  he gets
 a third term before it ever rvs

Di Narino wrote:No way Maliki gets another term. If he does, I'm selling.

If he gets another term, we are all in deep doo.... it will be YEARS if ever before we see any progress towards the RV..... I will be right behind you selling mine back also

jayzze wrote:after 2014 when  m is re elected one way or another  you can keep dreaming

If you were not a dreamer you would have never invested in the dinar...

ponee have you not been following te real news? m as gotten them to over turn the election laws so he can run again. now he is trying to put his old chief judge back.he recently got a deal with  brazzani .  he is trying to look good for the people to vote for i while his bddies do te dirty work. but there still is a chance to rv becase m will be a hero to te people and will be elected and he can cash in his stolen dinars

doax not true i bought tihs as a very  high risk with a possible excellent return 7 yrs ago. if i invest my money in anyting its for a return on my money and not to go to disneyland for dreams

Thanks for the article Di Narino.            



                                                                                         

we are only as close as the lies tell us and it changes every day