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"This is a Reinstatement" - Sat. PM KTFA Thoughts, News w/ Frank26 2/17/18
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"This is a Reinstatement" - Sat. PM KTFA Thoughts, News w/ Frank26 2/17/18
by Ssmith Sun Feb 18, 2018 8:45 am
KTFA
Cecilia » February 17th, 2018
In my opinion...no point to do a contract with a country still in chapter 8..according to conference call...because they r not international...to be out of chapter 8 means 1:1.
2Cents » February 17th, 2018
IMO this is an important issue that WS is trying to make all understand and so I take that risk again especially as Frank appears to be on the same page and no longer seeking them "lift Article VIII" ......
IMO, Iraq has one remaining issue that remains under Chapter VII of the UN - the compensation file to Kuwait. This morning we see the articles once again talking about this file....there are two files under Chapter VI of the UN - the Missing Persons and the Missing Property. the UN is scheduled to review all three of these files on Tuesday 2/20......
IMO, we will see the UN move the compensation file from Chapter VII to Chapter VI either Tuesday or "shortly" thereafter......
The IMF classifies Iraq as being under and accepting the protections afforded by Article XIV......
In order for the IQD to have worldwide acceptance at banks that deal with foreign currency exchange, Iraq must accept all obligations of Article VIII....this will allow not only us to exchange through most banks, but it allows all "investors" into the country to exchange outside of Iraq
This is what we have always sought and what the "investors" at the Kuwait conference sought.....IMO, the "investors could care less what the rate is as value is value....they only care about being able to move their money and potential profits in and out of Iraq without restriction no matter what the rate
Realize, that in theory they could do this at the current rate of 1184.......However, as I understand Article VIII, it requires a "reality rate"......In 2009, the WTO agreed that the IQD "reality rate" could be "on par with the USD"......In 2010, Ernst and Young state that after their audit, the "reality rate" should be $1.30 USD per IQD.....Now think about how many debts they have eliminated since then and how many more assets they have discovered.......what could the "reality rate" be today???
Article VIII also requires a complete stop of any multi currency practice......this is two fold, stop using USD to run your country and control the market rate within 2% of the office rate........therefore, auctions will stop at that time as the IQD will be functional within the country and able to be used to purchase imports.....
Until then, the auctions have continued and must continue as the CBI must provide enough USD for the country to function or the IQD will plummet in value as the exchangers could charge increased amounts as the supply of USD is limited......we saw this happen already when the government tried to control the auction amounts....
We know from articles that Iraq has been contracting their money supply and they have full intention to redenominate.....It is only logical that based on their actions and words that they will not accept Article VIII obligations until they are ready to redenominate......
If they do it prior, they will once again lose control of their money supply....not likely....therefore, the plan is clearly to appease the "investor's" by accepting Article VIII and to have control of their money supply be redenominating at the same time.....Of course, logic dictates that their proposed redenominated currency would be completely non functional at the rate of 1184......
So, we know the "investor's" only care about Article VIII, Iraq cares about control of the money supply and the CBI controls the rate.....therefore, IMO we should very shortly see Iraq "accept Article VIII obligations", the currency simultaneously go through a redenomination and a significant appreciation of the exchange rate......
The only question remains as to how the 3 zero bills we hold will be handled thereafter.....I strongly believe the new rate will directly apply to what we hold, we will have a minimum of two years to exchange directly with the bank or dealer of our choosing and that through special arrangement, we will be able to exchange up to at least ten years as the articles have stated....
Now, for all those that continue to state that the IQD is "asset backed and not fiat".......If it were not fiat, how could the rate be so much in question??? A non-fiat asset backed currency is defined by a specific amount of "asset" and the currency purchasing power could only change with any change in the value of the asset that backs it......we don't see that with the IQD and as such, the IQD is fiat and will remain fiat...
There is no "Chapter VIII" issues concerning Iraq.......The UN Chapter VIII is not relevant and the IMF is under "Articles".... Here is a brief summary from Wikipedia of Chapter VIII which is clearly irrelevant to Iraq:
Chapter VIII of the United Nations Charter
From Wikipedia, the free encyclopedia
Wikisource has original text related to this article:
Charter of the United Nations#Chapter VIII - Regional Arrangements
Chapter VIII of the United Nations Charter deals with regional arrangements. It authorizes regional organizations (such as the African Union) and even requires attempts to resolve disputes through such agencies (if available) prior to intervention by the UN Security Council. However, Article 53 provides that "no enforcement action shall be taken under regional arrangements or by regional agencies without the authorization of the Security Council."
Chapter VIII makes reference to enemy states, which were powers such as Japan and Germany that remained enemies of the UN signatories at the time of the promulgation of the UN Charter (in the closing months of World War II in mid-1945).
There have been proposals to remove these references, but none have come to fruition. Chapter VIII is analogous to Article 21 of the Covenant of the League of Nations, which provides, "Nothing in this Covenant shall be deemed to affect the validity of international engagements, such as treaties of arbitration or regional understandings like the Monroe doctrine, for securing the maintenance of peace."
Frank26 » February 17th, 2018
WALKINGSTICK ................... SAID WELL DONE 2CENTS.
Patriot12 » February 17th, 2018
Makes sense. The auctions must stay until the rate changes.... to franks point this is a reinstatement. We never heard anything about having to be international until I believe around June. Thanks 2 cents , Frank, WS and team. We all are on the same team and praying for the same thing. Let’s hope it is close
2Cents » February 17th, 2018
I just hope it helps all understand and understand that the underlying fundamentals at play are so sound......Don't be discouraged if it doesn't happen when you expected.......IMO, and congruent with Frank, WS and TEAMS, we appear sooooo very close......however, we don't know the plan.....we can only guess our best.....whether February, March, June or later they will accept Article VIII, they will Redenominate and they will change the official exchange rate.......As I stated before, only one question remains.....How will it apply to what we hold???
ChrisC » February 17th, 2018
If they don't honor the currency we hold at the new rate, then they would violate all known and accepted standards for the use of currency. Anybody that offers IOUs, of any kind, and then tries to say they are no good should lose all credibility with the people they trade with, IMO. I can't imagine any worse precedent to set than to con people into trading with you and then robbing them. They might steal from their own people, but I can't see them stealing from the rest of the World like that.
Lynda » February 17th, 2018
This Abadi thing w/perhaps him rejecting offers from Kuwaiti Conf. & World Bank in agreement w/these actions...I'm slightly confused. Is the World Bank Demanding he show the reality currency value since Iraq's current currency value is below basement rate & couldn't possibly repay any further loans offered @ the Kuwaiti Conf.?.
ChrisC » February 17th, 2018
Perhaps Abadi's response, along with Trump's calling them out for stealing, is a coordinated move to allow Abadi to tell all the thieves in the govt that the jig is up and they HAVE to RI now to keep from collapsing, IMO. I have used this move many times myself. You know what needs to be done but a large group you are dealing with is resistant to change so you play it off on another powerful group and say there is no other choice. The bad guys stop dragging their feet and actually begin to help.
Don961 » February 17th, 2018
Al-Abbadi will refund most of the loans of the Kuwait Conference by order of the World Bank
BAGHDAD (Reuters) - Iraqi Prime Minister Haider al-Abadi intends to reject most of the loans granted to Iraq in line with World Bank directives, The inability of Baghdad to bear more debt, and that Iraq is not obliged to accept these loans in case it relied on foreign investment.
The source continued, that 'Iraq was hoping to get at least $ 5 billion in grants, but it was only $ 1.8 billion, while the rest were loans and facilities with interest, "noting that" the Iraqi government, worked to hold extensive meetings With investors to activate the reconstruction plans put forward at the Kuwait conference recently and that Abadi, intends to give up some of the debt received by the Conference of donor countries, while the formation of the national oversight bodies committees to monitor the disbursement of grants and the implementation of projects.
It is noteworthy that the Secretariat of the Iraqi Council of Ministers, announced earlier that "the value of financial guarantees and facilities offered at the Kuwait Conference to boost investment, amounted to 11.6 billion dollars, while providing $ 1.8 billion in grants to support stability and in the form of humanitarian and relief aid. Ending link
PMac » February 17th, 2018
Might just be an observation of expectancy... I really like the velocity of the Intel coming in. I’m a big fan of velocity. Especially when it comes to currency velocity... which is what I believe A is creating / created with this KW conference. When we finally see it, it might already be going Mach 1.11 on its way up to Mach 4... ... ... in 72-80
SpeedRacer » February 17th, 2018
HMMMM, Abadi seems to be having several "sidebar" meetings with members of the Paris Club (think Allies in WWII) in Munich. "To the victors go the spoils"
Samson » February 17th, 2018
Abadi meets his French counterpart in Munich
11:10 - 17/02/2018
Prime Minister Haider Abadi met Saturday with his French counterpart Eduard Philippe at his residence in Munich, Germany.
"Prime Minister Haider al-Abbadi received at his residence in Munich French Prime Minister Edward Philippe," a statement from the office of al-Abadi said.
Prime Minister Haider al-Abadi arrived in Germany on Friday evening to attend the 45th session of the Munich Security Conference. LINK
Abadi discussed with Norwegian delegation the results of the war on the situation and the situation
2018/2/17 12:11
Prime Minister Haider al-Abadi discussed with a Norwegian delegation the results of the war on gangs, calling for terrorism and the situation in the region.
"The Prime Minister Haider al-Abadi received at his residence in Munich, the defense and foreign ministers in the Kingdom of Norway, and during the meeting discussed the development of relations between the two countries in all fields." "Abadi reviewed the results of the war on the victory and victory achieved in the unity of the Iraqi people and the transition to the stage of restoring stability, in addition to discussing developments in the region and the need to continue the war against terrorism, which threatens the world. "You are doing a bright job of democracy in the region, strengthening the unity of your people and respecting the principles of human rights and freedoms," Norwegian Foreign Minister Ina Eriksen said.
The Norwegian delegation expressed "the desire to strengthen relations and cooperation in the fields serving the two friendly countries". LINK
Abadi meets Nijervan and Massur Barzani in Munich
12:52 - 17/02/2018
Prime Minister Haider al-Abadi met on Saturday with Kurdistan Regional Government President Nigervan Barzani and the council's security adviser Massur Barzani in the German city of Munich.
A statement of the Office of Abadi received / information, a copy of it, that "the Prime Minister Haider Abadi receives at his residence in Munich, the head of the Kurdistan Regional Government Najirvan Barzani." Prime Minister Haider al-Abadi arrived in Germany on Friday for the annual security conference in Munich. LINK
On the sidelines of the Munich conference ..Abadi receives Joe Biden at his residence
17th February, 2018
Prime Minister Haidar al-Abadi met Saturday with former US Vice President Joe Biden on the sidelines of the Munich Security Conference.
Security issues in the Middle East have strained the themes of the two-day Munich security conference in Germany. LINK
Cecilia » February 17th, 2018
In my opinion...no point to do a contract with a country still in chapter 8..according to conference call...because they r not international...to be out of chapter 8 means 1:1.
2Cents » February 17th, 2018
IMO this is an important issue that WS is trying to make all understand and so I take that risk again especially as Frank appears to be on the same page and no longer seeking them "lift Article VIII" ......
IMO, Iraq has one remaining issue that remains under Chapter VII of the UN - the compensation file to Kuwait. This morning we see the articles once again talking about this file....there are two files under Chapter VI of the UN - the Missing Persons and the Missing Property. the UN is scheduled to review all three of these files on Tuesday 2/20......
IMO, we will see the UN move the compensation file from Chapter VII to Chapter VI either Tuesday or "shortly" thereafter......
The IMF classifies Iraq as being under and accepting the protections afforded by Article XIV......
In order for the IQD to have worldwide acceptance at banks that deal with foreign currency exchange, Iraq must accept all obligations of Article VIII....this will allow not only us to exchange through most banks, but it allows all "investors" into the country to exchange outside of Iraq
This is what we have always sought and what the "investors" at the Kuwait conference sought.....IMO, the "investors could care less what the rate is as value is value....they only care about being able to move their money and potential profits in and out of Iraq without restriction no matter what the rate
Realize, that in theory they could do this at the current rate of 1184.......However, as I understand Article VIII, it requires a "reality rate"......In 2009, the WTO agreed that the IQD "reality rate" could be "on par with the USD"......In 2010, Ernst and Young state that after their audit, the "reality rate" should be $1.30 USD per IQD.....Now think about how many debts they have eliminated since then and how many more assets they have discovered.......what could the "reality rate" be today???
Article VIII also requires a complete stop of any multi currency practice......this is two fold, stop using USD to run your country and control the market rate within 2% of the office rate........therefore, auctions will stop at that time as the IQD will be functional within the country and able to be used to purchase imports.....
Until then, the auctions have continued and must continue as the CBI must provide enough USD for the country to function or the IQD will plummet in value as the exchangers could charge increased amounts as the supply of USD is limited......we saw this happen already when the government tried to control the auction amounts....
We know from articles that Iraq has been contracting their money supply and they have full intention to redenominate.....It is only logical that based on their actions and words that they will not accept Article VIII obligations until they are ready to redenominate......
If they do it prior, they will once again lose control of their money supply....not likely....therefore, the plan is clearly to appease the "investor's" by accepting Article VIII and to have control of their money supply be redenominating at the same time.....Of course, logic dictates that their proposed redenominated currency would be completely non functional at the rate of 1184......
So, we know the "investor's" only care about Article VIII, Iraq cares about control of the money supply and the CBI controls the rate.....therefore, IMO we should very shortly see Iraq "accept Article VIII obligations", the currency simultaneously go through a redenomination and a significant appreciation of the exchange rate......
The only question remains as to how the 3 zero bills we hold will be handled thereafter.....I strongly believe the new rate will directly apply to what we hold, we will have a minimum of two years to exchange directly with the bank or dealer of our choosing and that through special arrangement, we will be able to exchange up to at least ten years as the articles have stated....
Now, for all those that continue to state that the IQD is "asset backed and not fiat".......If it were not fiat, how could the rate be so much in question??? A non-fiat asset backed currency is defined by a specific amount of "asset" and the currency purchasing power could only change with any change in the value of the asset that backs it......we don't see that with the IQD and as such, the IQD is fiat and will remain fiat...
There is no "Chapter VIII" issues concerning Iraq.......The UN Chapter VIII is not relevant and the IMF is under "Articles".... Here is a brief summary from Wikipedia of Chapter VIII which is clearly irrelevant to Iraq:
Chapter VIII of the United Nations Charter
From Wikipedia, the free encyclopedia
Wikisource has original text related to this article:
Charter of the United Nations#Chapter VIII - Regional Arrangements
Chapter VIII of the United Nations Charter deals with regional arrangements. It authorizes regional organizations (such as the African Union) and even requires attempts to resolve disputes through such agencies (if available) prior to intervention by the UN Security Council. However, Article 53 provides that "no enforcement action shall be taken under regional arrangements or by regional agencies without the authorization of the Security Council."
Chapter VIII makes reference to enemy states, which were powers such as Japan and Germany that remained enemies of the UN signatories at the time of the promulgation of the UN Charter (in the closing months of World War II in mid-1945).
There have been proposals to remove these references, but none have come to fruition. Chapter VIII is analogous to Article 21 of the Covenant of the League of Nations, which provides, "Nothing in this Covenant shall be deemed to affect the validity of international engagements, such as treaties of arbitration or regional understandings like the Monroe doctrine, for securing the maintenance of peace."
Frank26 » February 17th, 2018
WALKINGSTICK ................... SAID WELL DONE 2CENTS.
Patriot12 » February 17th, 2018
Makes sense. The auctions must stay until the rate changes.... to franks point this is a reinstatement. We never heard anything about having to be international until I believe around June. Thanks 2 cents , Frank, WS and team. We all are on the same team and praying for the same thing. Let’s hope it is close
2Cents » February 17th, 2018
I just hope it helps all understand and understand that the underlying fundamentals at play are so sound......Don't be discouraged if it doesn't happen when you expected.......IMO, and congruent with Frank, WS and TEAMS, we appear sooooo very close......however, we don't know the plan.....we can only guess our best.....whether February, March, June or later they will accept Article VIII, they will Redenominate and they will change the official exchange rate.......As I stated before, only one question remains.....How will it apply to what we hold???
ChrisC » February 17th, 2018
If they don't honor the currency we hold at the new rate, then they would violate all known and accepted standards for the use of currency. Anybody that offers IOUs, of any kind, and then tries to say they are no good should lose all credibility with the people they trade with, IMO. I can't imagine any worse precedent to set than to con people into trading with you and then robbing them. They might steal from their own people, but I can't see them stealing from the rest of the World like that.
Lynda » February 17th, 2018
This Abadi thing w/perhaps him rejecting offers from Kuwaiti Conf. & World Bank in agreement w/these actions...I'm slightly confused. Is the World Bank Demanding he show the reality currency value since Iraq's current currency value is below basement rate & couldn't possibly repay any further loans offered @ the Kuwaiti Conf.?.
ChrisC » February 17th, 2018
Perhaps Abadi's response, along with Trump's calling them out for stealing, is a coordinated move to allow Abadi to tell all the thieves in the govt that the jig is up and they HAVE to RI now to keep from collapsing, IMO. I have used this move many times myself. You know what needs to be done but a large group you are dealing with is resistant to change so you play it off on another powerful group and say there is no other choice. The bad guys stop dragging their feet and actually begin to help.
Don961 » February 17th, 2018
Al-Abbadi will refund most of the loans of the Kuwait Conference by order of the World Bank
BAGHDAD (Reuters) - Iraqi Prime Minister Haider al-Abadi intends to reject most of the loans granted to Iraq in line with World Bank directives, The inability of Baghdad to bear more debt, and that Iraq is not obliged to accept these loans in case it relied on foreign investment.
The source continued, that 'Iraq was hoping to get at least $ 5 billion in grants, but it was only $ 1.8 billion, while the rest were loans and facilities with interest, "noting that" the Iraqi government, worked to hold extensive meetings With investors to activate the reconstruction plans put forward at the Kuwait conference recently and that Abadi, intends to give up some of the debt received by the Conference of donor countries, while the formation of the national oversight bodies committees to monitor the disbursement of grants and the implementation of projects.
It is noteworthy that the Secretariat of the Iraqi Council of Ministers, announced earlier that "the value of financial guarantees and facilities offered at the Kuwait Conference to boost investment, amounted to 11.6 billion dollars, while providing $ 1.8 billion in grants to support stability and in the form of humanitarian and relief aid. Ending link
PMac » February 17th, 2018
Might just be an observation of expectancy... I really like the velocity of the Intel coming in. I’m a big fan of velocity. Especially when it comes to currency velocity... which is what I believe A is creating / created with this KW conference. When we finally see it, it might already be going Mach 1.11 on its way up to Mach 4... ... ... in 72-80
SpeedRacer » February 17th, 2018
HMMMM, Abadi seems to be having several "sidebar" meetings with members of the Paris Club (think Allies in WWII) in Munich. "To the victors go the spoils"
Samson » February 17th, 2018
Abadi meets his French counterpart in Munich
11:10 - 17/02/2018
Prime Minister Haider Abadi met Saturday with his French counterpart Eduard Philippe at his residence in Munich, Germany.
"Prime Minister Haider al-Abbadi received at his residence in Munich French Prime Minister Edward Philippe," a statement from the office of al-Abadi said.
Prime Minister Haider al-Abadi arrived in Germany on Friday evening to attend the 45th session of the Munich Security Conference. LINK
Abadi discussed with Norwegian delegation the results of the war on the situation and the situation
2018/2/17 12:11
Prime Minister Haider al-Abadi discussed with a Norwegian delegation the results of the war on gangs, calling for terrorism and the situation in the region.
"The Prime Minister Haider al-Abadi received at his residence in Munich, the defense and foreign ministers in the Kingdom of Norway, and during the meeting discussed the development of relations between the two countries in all fields." "Abadi reviewed the results of the war on the victory and victory achieved in the unity of the Iraqi people and the transition to the stage of restoring stability, in addition to discussing developments in the region and the need to continue the war against terrorism, which threatens the world. "You are doing a bright job of democracy in the region, strengthening the unity of your people and respecting the principles of human rights and freedoms," Norwegian Foreign Minister Ina Eriksen said.
The Norwegian delegation expressed "the desire to strengthen relations and cooperation in the fields serving the two friendly countries". LINK
Abadi meets Nijervan and Massur Barzani in Munich
12:52 - 17/02/2018
Prime Minister Haider al-Abadi met on Saturday with Kurdistan Regional Government President Nigervan Barzani and the council's security adviser Massur Barzani in the German city of Munich.
A statement of the Office of Abadi received / information, a copy of it, that "the Prime Minister Haider Abadi receives at his residence in Munich, the head of the Kurdistan Regional Government Najirvan Barzani." Prime Minister Haider al-Abadi arrived in Germany on Friday for the annual security conference in Munich. LINK
On the sidelines of the Munich conference ..Abadi receives Joe Biden at his residence
17th February, 2018
Prime Minister Haidar al-Abadi met Saturday with former US Vice President Joe Biden on the sidelines of the Munich Security Conference.
Security issues in the Middle East have strained the themes of the two-day Munich security conference in Germany. LINK
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Re: "This is a Reinstatement" - Sat. PM KTFA Thoughts, News w/ Frank26 2/17/18
by GypZ Sun Feb 18, 2018 6:43 pm
not again ..-lol
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Re: "This is a Reinstatement" - Sat. PM KTFA Thoughts, News w/ Frank26 2/17/18
by Terbo56 Sun Feb 18, 2018 8:44 pm
Biden is over there just to throw a wrench into everything that the president is trying to do to str8 10 out everything, but, if they only knew that Biden was involved in 'Killary's little lifestyle, he'd be executed right where he stood-Rope is on sale next week at most major hardware stores-
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Re: "This is a Reinstatement" - Sat. PM KTFA Thoughts, News w/ Frank26 2/17/18
by Kevind53 Sun Feb 18, 2018 11:53 pm
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