Author Topic: Morning Coffee Klatch with Mac and Mich 10:02am EDT 3/22/16  (Read 498 times)

Offline wushock92

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Morning Coffee Klatch with Mac and Mich 10:02am EDT 3/22/16
« on: March 22, 2016, 10:57:56 AM »
(*) Morning Coffee Klatch with Mac and Mich 10:02am EDT 3/22/16

mac: Great! Wake up to a bombing in Brussels
Michigander: An invitation to open to the public for the activation of indirect investment 3/22/2016 the «next economic phase requires increased trading activity in the securities of the Iraqi market, the Iraq Stock Exchange announced earlier intention to set up a workshop in the twenty - third of the month of April under the title «electronic trading role and rules for securities Iraqi market in a revitalization of investment».
.BJ: that is the way with these cowards, attack unarmed people with children
Michigander: The key here is...the "next economic phase requires increased trading activity in the securities of the Iraqi market," Where are they going to get this increase in activity? it must come from outside Iraq and that can only happen two ways...1.Through custodial banking or 2. Through making the dinar convertible worldwide (Article VIII) allowing international transactions in the ISX (since the stocks are priced in dinar). The goal seems clear for Iraq..
mac: Mich that looks like a public workshop on electronic trading
.BJ: going to teach everyone how to trade on line
Michigander: well its part of isx plan for this year
mac: I like it!
Michigander: CBI Strategic Plan 2016-2020 http://cbi.iq/documents/CBI_Strategic_Plan_E.pdf
mac: Ah! A quote from the playbook. LOL
Michigander: Keep in mind currency reform which includes moving to Article VIII and allowing the dinar to be convertible throughout the world (freedom of movement of capital) must occur before anything else if they want a market economy. Without it, the banking system won't strengthen, capital won't come to Iraq, investors won't participate and so on... As I said on several occasions, I do not expect the dinar to rise overnight, that it will take time. In fact, several articles from the past stated that it would take 4-5 years to "delete the zeros." once they begin the transition to a market economy, and open the banking system, we should expect the rise of the dinar to take time..as much as a few years to get a value where the zeros are gone (equivalent to a 1-1 exchange rate or about). based on supply and demand and then a more gradual appreciation that is reflective of investment, etc. in Iraq. The Balassa-Samuelson effect.
mac: So the dinar being convertible and article 8 being passed would surely have to happen before they could hold a workshop for citizens on electronic trading on the 26 of April?
Michigander: they need more of the workshops to help educate people just simply don't know how the banking system works
mac: Considering only 10% of the population uses the banks I can see that.
Michigander: no not necessarily mac they are just trying to educate them its all part of the education program they launched early last year
mac: ok.
Michigander: this is a process as they have stated many many times one that takes years to complete // we are at the end of that if we can go by what IMF statements have said and also from the things we see getting done in parliament and cbi
mac: I agree with that.
Michigander: that's why it simply amazes me to still see the flat out lies that some put out about people cashing in and changes in the rate // those people should be banned from posting because it only stokes the fire of false hope and does nothing but hurt those that read it
mac: But no one required a polygraph to get into this investment
mac: A persons integrity or lack of it, was not a prerequisite.
Michigander: LOL
.BJ: ya'll are correct, but as for me, I have meet some very good people
wushock92: Folks thought at the beginning this would be like Kuwait. But Kuwait didn't have to reconstruct their entire government from basically scratch. Then, the longer it took to get that taken care of, the more 'international' the change became. More chefs in the kitchen. But I think that omelet is getting closer to being ready to eat.
Michigander: its funny how the cbi plan has been laid out in black and white but some choose to make up their own plan on how its going to go // sort of pulling the whool over us investors eyes // or at least trying too // not this investor that's for sure
wushock92: .BJ  I agree!
Michigander: yes Kuwait never stopped or did away with their  currency it was just put on hold
mac: BJ yes we have unfortunately its the ones Mich is referring to that make thi journey difficult. Also there is no way to filter out these "hypers". We don’t know what their motivation is but their intel has been consistently wrong.
Michigander: I think its an ego thing with most of them after 11 years in this its simple to see
wushock92: So does that make their 'intel' more like 'dunce-tel'?
Michigander: and yes not once have they ever been right
gene: 11 years for me to Michigander
Michigander: long time gene
.BJ: mac I always enjoyed the cartoon at the first of the movie LOL
mac: BJ. LOL
gene: so sad what is happening in the world
mac: So if the "hypers" are wrong, which they are, then that puts us back at wait and see cause predictions have all been wrong.
wushock92: If I may borrow a line from Andrew 'Dice' Clay, "WHAT'S WRONG WITH PEOPLE?!"
mac: Hahahahaha.......... I love Dice.
gene: a lot of crazies out there with weird beliefs,,,
gene: very corrupt minds
wushock92: Shoot, mac, even the weatherman has a better track record than the hypers
mac: I agree.
gene: wushock that is funny i agree
Michigander: Central bank: Iraq will receive substantial financial support soon 03/17/16 He said the central bank governor said "the preparation of the budget in foreign currency requires some commitment to global rules, the central bank must keep exchange rates at a certain level." "Iraq will happen in the coming months on substantial financial support." https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Frudaw.net%2Farabic%2Fbusiness%2F170320161&edit-text
gene: ty for the laugh
Michigander: some good quotes from this article
Michigander: Opening the banking system is the goal. And we know when then do, it creates momentum in investment, as well as profits for the CBI.
mac: Mich did you notice Iraq’s reserves are back up from 43B to 60B?
Michigander: Based from what the IMF stated about 'Iraq will re enter the market place in the first half of 2016'....there is a countdown clock in a sense.... 4 months left for the IMF statement to become reality. Soon time for Iraq to open up to the world with an International currency. We know Tariffs for the most part are actually in full affect. Something has got to give in the short run.
mac: Ok all gotta go to work. Stay grounded and in prayer no matter how long things take.
Michigander: no ill look at cbi site today and check it out
wushock92: Mac, as always, thank you. Peace be with you, Brother
gene: ty Mac
graciousme: Bye mac