Author Topic: MORNING COFFEE WITH MAC AND MICHANGANDER 03/17/2016  (Read 225 times)

Offline MikeH

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MORNING COFFEE WITH MAC AND MICHANGANDER 03/17/2016
« on: March 17, 2016, 10:54:56 AM »
MORNING COFFEE WITH MAC AND MICHANGANDER 03/17/2016

mac:
ok all read up. Good morning room!!!
mac:
So did everyone read the articles??
mac:
no?
mac:
ok.
bigsammie:
Yes. Sound promising
mac:
Does anyone find it odd that snipers were deployed in bahgdad today but placed only on top of banks?
mac:
Sadr is building another tent version of Sadr city outside the gates of the green zone. Also he will give Abadi the full 45 days before they storm the green zone.
bigsammie:
Mtn Goat's message kind of brought up the bank subject. Something going on.
bigsammie:
Mac - Sadr is about the protestors?
mac:
Yes
bigsammie:
And the 45 days is about up, right?
mac:
He is the one keeping the fire going at the citizen level
mac:
45 days up on 3/28
bigsammie:
Ahh, pushing buttons.
mac:
yep
mac:

bigsammie:
About darn time!
mac:
So the intensity is definitely being turned up. I believe Abadi will get his cabinet reshuffle done before the 28th and have them working.
mac:
Bonds are to be sold as of yesterday.
bigsammie:
How will the bonds work if not much monetary value since the last attempt?
mac:
Exactly.
mac:
What needs to happen?
bigsammie:
Can a revaluation happen if reshuffle not finalized?
Michigander:
The CBI will throw bond (nominal) on behalf of the Ministry of finance in nominal date 2016/3/15 and ends in 2016/4/15 , five & categories 2016/3/9 http://www.cbi.iq/...9-3-2016.pdf
mac:
Mich bonds don’t go over too well in Iraq.
mac:
KKT!
kktwahoo:
hiya mac
Michigander:
Floating the dinar or moving off the peg can happen at any time. That is a function of monetary policy managed by the CBI. Moving to IMF Article VIII is a different issue, and requires compliance and acceptance by the IMF. This move is seen to be the most important since it would encourage a more open banking system with the world. Seems unlikely that they are anywhere close to that happening though with the spread (official rate/market rate) now over 6%.
Michigander:
no they haven't in the past will have to see how these ones go should be a report out sometime next week on CBI site
mac:
So why release the bands now if the conditions are exactly the same as the last time?
mac:
bonds
Michigander:
Baghdad ... observers are demanding the closure of the currency at the central bank auction Published on Mar 16, 2016 Video https://www.youtube.com/...
mac:
Saw that one coming
Michigander:
well its all part of them trying to get citizens to be more active in banking sector right now 70% of the citizens in the country want absolutely nothing to do with banking industry
Michigander:
that has got to change before opening up a market economy
mac:
So I ask again, why release bonds under the same conditions??
Michigander:
because there are no other conditions they can release them under
Michigander:
they are still pegged
mac:
And they have attempted this twice before?
Michigander:
and all the bond money goes to help government salaries // they need money in worst way
mac:
I know their revenue stream is very dry.
Michigander:
yes and they sold bonds in the past // just hasn't been the numbers they wanted but they helped
Michigander:
the difference this time is the percentage of payback // they think this will help bring peeps in // time will tell
mac:
Oh crap! I stayed too long, have to go guys. Things are moving well, stay encouraged. Mich thank you so much for your time.
Michigander:
have good day mac