2-28-2013 *Adam Montana

[Vixen]

2-27-2013 *Adam Montana ~The budget is STILL delayed, the latest report is that they are to vote on Saturday. If you are wondering what the hold up is it's really tied to the HCL and the distribution of funds. The Kurds want more, the rest are putting up a fight. Other than that, they are in agreement on pretty much everything. They will get through their disagreements, and while I don't know if I believe the vote will be successful on Saturday - I would guess we are less than 2 weeks away from the final vote. The other thing to watch for is Chapter 7. Some are not as optimistic as others on this matter, but I believe the bottom line is they are 100% compliant in every way, even with regards to Kuwait. However, Kuwait does not want to let them out from under Chapter 7 until they are 100% guaranteed that they will be repaid what they are owed. you see, if Iraq is let out from under this deal they would then be able to reneg on their agreements, and nothing short of a full blown war could force them to honor their commitment. As things stand right now, Iraq is forced to continue to pay Kuwait, so obviously Kuwait wants it to stay that way. So let's think this through...what are Iraq's options? How could they possibly settle that debt to Kuwait and move forward as a completely sovereign and free nation? Quite easily, actually - small or big RV, write a check, and the rest is history. Bada bing, bada boom. So that's pretty much all there is to say about the situation - budget is still delayed but once they compromise on the HCL matter it will pass. Chapter 7 is pending, and it is only held up by one matter. And honestly, it's not even that much money. All in all, things are looking good.

2-27-2013 *Adam Montana ~[how can Iraq take the three zeros off the value of the current 250 and 500 dinar bills they currently have. If they did so would that not totally render those billls totally worthless?] You are describing a l0p - removing three 0s from a 250 note would make that note worth .25 and a 500 note would be .50 not worthless, but it doesn't make sense to do that... it serves no purpose, does not benefit Iraq, nor does it make daily transactions any easier. That is one of the reasons I don't buy into the l0p stories - unless they have a good reason to do it, I don't think they will.

2-28-2013 *Adam Montana ~[About 1 1/2 years ago with Shabs at the helm, the CBI adjusted the sell rate from 1170 to 1166...why 4 pips and why then? Why not 3 or 5 or 10 and why then?] The CBI at that time said they did it because that was where the value should be... but those of us that were watching closely at the time know that there was a huge resistance to the move. Many said at the time that there was no reason to do it, that it would not make a difference, and quite honestly... like you said, what is the purpose of such a small move? The purpose was, in my opinion, to show the world that they will move the rate however and whenever they want. The 4 pip move served absolutely no purpose other than just that - to prove that the CBI and only the CBI is in charge of the rate.