Today I wanted to drop in and give you an update on the ongoing news about the election process and how it all fits into the revaluation plan of the IQD. .
I wanted to clarify some items about the Iraq election process timelines and when we can expected to see the newly formed government of Iraq begin to take shape.
The newly formed government of Iraq is already taking shape and so when the announcements finally come out it will be a matter of formalities to seat everyone and get the government rolling.
There may be some minor disputes but the overwhelming majority the attitudes of almost everyone is to get rid of Maliki and his goons. This is actually a uniting force of the political leaders of all the secs. We have not seen this much unity and ability to work together to accomplish one common goal yet in Iraq. It is a very good thing and I hope its all what we can expect more of in the future.
Basically there is a 30 day windows of time we are dealing with to fully, legally seat their new government. I am breaking this down into approx 2- two week wiindows for you. In each window there are certain events must take place. The entire cycle of 30 days can be accelerated if all goes well and if there are few to no challenges of the new candidates.
The First 2 Week Window
We now watch for our next election benchmark that of the formal announcement of the election results in Iraq, as ratified by the judiciary. Remember this should have happened today June 6th but was delayed 4 days due to over 800 appeals filed with the electoral commission on the election results most of which were from ballot fraud and other corruption. The judiciary needed more time to review and make decisions on all this mess. I have described some of this in my last few news letters. So now this should happen on Tuesday June 10th if still on schedule. I am hearing it is. This will kickoff the events that follow.
This is a very significant date since:
1) the new council of representatives will be announced
2) whatever bloc wins (controls), they announce their candidate for the prime minister.
The actual building of the new government of Iraq then begins as follows:
On June 14th the mandate for the current Iraq government ends. All immunity also ends for all MPs including the Prime Minister. So what will happen to all the files on corruption? Will they then be opened and arrest warrants issued? This may be interesting to watch.
After June14th there will no parliament and government until they conduct the oath for the newly elected MPs and seat them.
The next step is for this newly formed council of representatives (or parliament) to elect a new President of the Republic.
The newly appointed President then usually will announce when the first session of the new parliament will occur. I am hearing this is going to be July 1st. .
Then the newly appointed President ratifies the new Prime Minister (name as submitted by the majority bloc).
So far these appointments all must happen within or before a 2 week window following the June 14 date to meet the first deadline of July1st when parliament is expected to open its first session of the newly elected government.. Personally I am hearing they have candidates all selected and are just waiting on the formalities now. This could all happen very quickly.
Now you can see now why I am saying this date of June 10th next Tuesday is so significant because it begins the entire process Hope this all makes sense?
The Second 2 Week Window
So once the newly elected council of representatives, the Prime Minister and the new President are seated, the Prime Minister’s first duty is then to begin to build his Council of Ministers, all of whom must be approved by the Assembly. This must all be done within another 2 week window that begins once the Prime Minister is seated. I am projecting this window will begin around June 30th.
Do you see how we can expect to see a complete government no later than July 15th if all goes well. I anticipate we will see this government formed and announced some time around mid July with our farthest window end of July worst case if there is any disputes over anyone the prime minister selects for his ministers. .
Then from around July 1 -15 the newly seated parliament will then have to ratify or approve these new positions. Once this is done the 30 day clock ends.
In today’s news letter I am giving you some timelines. Why?
I have devoted this news letter to these timelines because I want all of us to be watchful for the completion of these events tied to these timelines.
I believe fully that seeing the announcement of the IQD revaluation is now tied to these events. I believe the RV could happen as any stage of the process after June 10th but I am saying it is most likely to happen just before or just after the announcement of the newly formed government’s completion expected to happen on July 15th. .
Many are spreading rumors that the RV can happen at second now. They have said this now for months upon months now. So where is it?
Technically it could have happened and it would have if the USA had let the roll process complete. They did not and I believe they will not until at least two things happen:
1) they feel certain which way the government of Iraq is going. ]
2) the base currency IQD rate has a strong potential to rise very quickly once rolled out fully to the international exchanges. The USA needs the rate to be high since oil credits are based on this. The higher the rate the more oil. China and Vietnam already have fixed contracts and so they would have liked the GCR to have happened months ago. They are also not as involved in the process as the USA is.
All sanctions have now been lifted from Iraq and with each of these types of benchmarks the USA loses more and more control over Iraq and it’s power to intervene in the Iraq affairs. Some say there is still a matter of the Status of Forces Agreement (SOFA) to help in this area but this agreement expired at midnight on December 31, 2011 when all US forces were officially withdrawn from Iraq. Do you remember the big celebrations?
What most do not know is that SOFA was replaced with a Strategic Framework Agreement (SFA) between Iraq and the United States prior to the USA pulling out. It is a very broad agreement as you can see in the goals of the agreement. It is aimed at ensuring international cooperation including minority ethnicity, gender, and belief interests and other constitutional rights; threat deterrence; exchange students; education; and cooperation in the areas of energy development, environmental hygiene, health care, information technology, communications, and law enforcement.
So what I am trying to say is stability of Iraq through the stability of an honest, working, united government (with common goals beneficial to Iraq) is primary to the USA. They have stated this many times I the past. Did you forget? Are you so hyped up to go to the bank from all these conference calls that you forgot?
It is much easier for the USA to wait to see what happens in this election than to RV the currency and then to regret it later since completing the entire international process with another corrupt government in place may only result in the USA having to send more troops to Iraq in the future or impose yet more sanctions again, costing billions and possibly more American lives lost. Did I mention the all the red tape with the UN.
So I believe they are taking the path of least resistance. Just because I am stating what I truly believe to be the truth does not mean I am in favor of it or want to wait for the RV any more than you do.
We must however consider all aspects and use some common sense out of the intel being provided to us by our sources as to what is stalling this revaluation. The information is all out there (like pieces to a puzzle) we just have to read it correctly and piece it together. The picture is quite clear now.
Are we all so hyped up to see the RV that we are now closed minded as to what is happening right in front of our noses?
It is my strong feeling we are still looking at possibly around mid July towards the end of July before we see the announce of the fully, functional, stable government. I certainly hope it all happens prior to this date. It could potentially happen at any one of the final stages of this election process.
When will the USA feel the government of Iraq is stable enough to finally let the RV go?
It is not long from now since we are about to enter into the final 30 day window of the process to build a new Iraq government.
The IQD rate will be high when it comes out and it will climb very quickly. The projections for the IFX this week and the amount of CBI reserves (and gold) is an indicator of this. Iraq has met all necessary Basel III requirements and beyond for valuation of a very, very high rate as an asset backed currency.
I do not expect to see any IQD revaluation international until just prior to or after the announcements of the new government with relative stability.
I want to wish everyone a wonderful weekend. Next week is going to be very interesting!
Peace and Luv To Ya All,