I come to you today to give you a recent update on the progress of the new government and how this relates towards the international rollout of the IQD for Iraq.
Today's news letter, as in all my news letters, is a continuation of the ongoing saga of the IQD RV process.
Today is Wednesday 9/10 and so far this week we witnessed the announcement of the ”fully” formed government of Iraq.
Hurry and CONGRATULATIONS for Iraq ! It was a long way to the finish line.
Did I not tell you to relax and enjoy your weekend and wait till Monday? All this hype about over the weekend about the RV taking place was once again rumors and hyped up by the same old people. Do you ever get tired of this hype?
My sources told me by Thursday Abadi had already made a decision then it was just not going to happen until the next parliamentary session on Monday. The agenda for the session was already written and it was not even scheduled for a vote until Monday night, Iraqi time. They still had many disputes on the candidates and the demands. At this time it was still sketchy whether they would even have to go with plan B, the de facto government.
So what can we expect next?
First I want to I never said that the RV would happen instantaneously as the announcement was made of the fully government. So if this is what you truly expected you are wrong. The PTB are looking for stability in Iraq meaning a secure Iraq and a stable government that can run the country and ensure the treasures of Iraq are not plundered (as we have seen over the last 8 years, especially the last 4 years with the Maliki GOI). There are also issues now with CBI that must be dealt with as I will explain later on in detail some the recent happenings. They also need a secure Iraq and until June this may have been the case but ISIS since has proved them wrong. So now these become an issues. This all must be taken care of to some degree prior to letting the currency go global. There is no check list of events and so don’t look for one.
We will never know the full extent of just how far this all needs to go prior completing the currency reform. But what we can do is watch the progress of the political, economic and security factors and be aware of the economic reforms and what is taking place day by day to give a clue as to just how close they are.
The Abadi administration now seems to be putting in place an excellent foundation for a functional government and once completed this will ensure that the reforms needed and security issues will be taken care of.
So this first step is now completed- getting the new government seated. Actually there is a second step too he already addressed. This second step is that he also already addressed the reasons why they had non-participation in the previous government and could never get anything done. He has accomplished this by getting a buy-in from each ministers and on a list of 27 reforms/demands. Remember I talked about the 17 demands in my last news letters? Well since then they worked out this plan and finalized it to now 27. You will see lists floating around on the internet so I will not list them here. But if you look at them many of them are about economic reform, banking and we can see these reforms will lead us to completing the currency reform project.
If you look at the timelines most of these important economic reforms have a 1 month completion period. The farthest out timeline is only 6 months. Then all the demands will be completed. This brings Iraq to the beginning of 2015. Is it coincidental these dates line up too with the start up period for the millennium plan for development of this region? Could the military coalition plan too in dealing with ISIS now also line up nicely with this same time period?
I also said that I strongly felt we would see Dr Shabibi come back to the CBI and head the completion of this currency reform project. I will talk more about this later in this news letter and how this impacts our RV.
So next this new Iraqi administration must review the budget and make any necessary changes to coincide with the reforms all recently agreed upon. Then it goes to parliament for readings and a final vote. We know this is being fact tracked. We know too this budget is to be based off a realistic rate for the Iraq dinar and a currency that must go international (with the revalued rate) to comply. Remember what I said months ago? The budget depends on the currency reform project being completed and not the other way.
So this list of 27 reforms basically is nothing more than cleaning up the mess left behind from the Maliki GOI. Laws and projects neglected. It is essentially the Erbil agreement of 2009-2010. Once they get all this done they will be status quo once again and moving ahead, as this was all supposed to already have been taken care of in the last administration. We know Maliki GOI was too busy finding ways to steal money and take care of political rivals than running the government.
There was a 5 year plan for Iraq launched in 2010 and unfortunately much of the plan has still to be implemented. I am not saying all of it must be implemented first prior to the RV but many items depend on the revalued currency too. Remember Dr. Shabibi was well on his way to revaluing the currency back in 2012 when the project was stopped. The project to reform the currency goes hand and hand with these reforms. It was stopped because the progress in the government stopped. This happened at about in mid year 2012, as Maliki went on his binge of corruption. Many of the projects simply came to a halt.
Of course the CBI is near and dear to everyone since many believe it has a lot of influence in assisting with the economic reforms, as least many of us think this is the case.
In reality you should think about the CBI like a CPA firm, hired to keep the books and make sure the wealth of the country is safe guarded and is properly distributed from the treasury to fund legal projects (Iraqi reserves). They also assist in the best banking practices but it is the Finance ministry that must take the lead in this area too. So when it comes to bringing their currency back online it is more the task of the ministry of Finance rather than the CBI. Our focus should be there too.
The CBI works through the Finance ministry but there is a fine line as to who they really work for. For instance if you hired a CPA to do your accounting you surely would not dictate to them financial regulations and legal book keeping practices would you? Since this is not your job as the owner of the wealth you would want to trust your CPA in these matters. So the GOI (the owner of the wealth) has no business telling the CBI (the keeper of the wealth) how to run its business. However under Dr Shabibi, the CBI did agree to work closely with the Finance ministry but was more of a matter of courtesy and respect for Iraq GOI rather than a mandated policy. When the GOI pressured the CBI in 2012 to circumvent sound financial practices Dr Shabibi had to enforce the CBI policy and refuse many of the demands of the Maliki GOI to dip into the reserve funds without parliament approval. Iraq has the highest reserves of any nation on the planet is virtually a debt free nation. This is all owed to Dr. Shabibi’s work. So why would they not want him in charge of the CBI?
Does all this make sense so far? If not go back and re-read these last couple paragraphs because what I am about to tell you next is very important to the RV and concerns this topic.
The major influence of al-Maliki on the central bank began in October 2012 and since then he has managed to control the cash reserves, which the CBI saw many violations outside the terms of the country's public budgets and policy of the CBI. The Maliki government then launched a media campaign that lacked professionalism and credibility to the leadership of the central bank, sparked outrage and ridicule and financial experts, bankers and professional circles and Iraqi cultural. The outcome of the smear campaign resulting in the dismissal of Shabibi and the appointment of the President of the BSA at the time the acting governor Abdel Basset Turki, in what was considered a breach of the most important principles of statutory audit, thus conflict of interest. Turki should have know better too since he still held the lead auditors position. Is this not a conflict of interest?
So just before the recent announcement of the fully formed government (thus Maliki loses all power as the caretaker PM) he once again made a move on the CBI. Turki announced his retirement (was this coincidental?) and Maliki appointed a second governor, Alak to head the CBI. In the same timeline the judiciary issued a 7-year prison sentence against the former central bank governor Sinan al-Shabibi, who was sacked by Maliki the end of 2012 and replaced by Truki. So we have to ask ourselves - Just what is going on here? What is legal and what is not. What about Due Process for Shabibi?
No one really knows Maliki true intentions but we do know he has his sights still on the money in the CBI. We know he now he has one of the three vice presidential positions with the new government. Alak now acting head of the CBI is totally unqualified for this role but he is a Maliki goon and so Maliki placed one of his own at the helm of the CBI once again.
Now let me tell you what is going to happen next. This is where the story gets real good.
It is not hard to see that the recent happenings around the CBI and what happened o Dr Shabibi are all not all legal and very improper in a democracy never mind conflict of interests with the CBI. So why does someone not jump in and do something about it?
I will tell you something. This is not my prediction as it is going to be factual for all to see in the very near future.
Alak will get sacked very shortly and Dr Shabibi will be back and appointed again as the head of the CBI. This is not a prediction this is fact.
Until we see this happen do not expect any completion of the currency reform project. It will only be completed by Dr. Shabibi when his is fully seated at the helm of the CBI once again. So this is one factor to watch for.
This week we already have head talk of a full acquittal of any changes of corruption by the past GOI for the accused members of the CBI staff and Dr. Shabibi. So this move is already taking shape as I write this news letter today. His 2012 staff is to be granted full amnesty and released from prison. They are also going to squeal like a little piggy about all the past GOI corruption and what really happened in late 2012 leading up to the recent changeover. So you see it is being dealt with and the changes are coming. Be patient.
Fate of Maliki
There is a reason they allowed Maliki take one of the vice president seats under Masoum. First it was part of a deal that he relinquish his candidacy for prime minister. I do not yet have all the details and I may be premature in telling you readers this tidbit of information, so stay tuned. But this is what I know so far.
There are very strong indications Maliki is being set up once again and will not make it through the entire 4 years of this administration as one of the vice presidents. Even his newly found amnesty as a vice president will not save him. Committing treason is a criminal act that is immediately punishable by law in Iraq and no level of amnesty can save you.,,,hint..hint. Do you see what is coming next for Maliki? I believe they also so not want to let him out of their sights. They already have banded his ability (and all his goons) to travel outside the boarders of Iraq.
Who is the main player in this game? All I will say for now is this. Remember Taraq al-Hashimi? Remember too this saying - What goes around comes around? Remember too his parting words when he had to escape to Turkey in exile when accused of a hand gun violation? Of course he was setup. He told Maliki he would return and he would regret the day he did this to him. Like the 7 year jail sentence placed on Dr. Shabibi he too was sentenced to death 3 times over without any due process.
So today’s news is all very good news. We can see they are really pushing forward quickly. The new government of Iraq is now fully seated and formally announced to the world.
So now what other requirements are necessary to give us the currency revaluation?
Well we now know one issue is that they must first settle once and for all in getting the fox out of the hen house…lol…. ( I mean getting the CBI governor situation corrected) and the release of Shabibi’s CBI staff from prison.
We know there is now a Unity Plan for Iraq with 27 reforms/demands and everyone in the new administration has gotten onboard or they got eliminated as a candidate for any of the cabinet positions. Excellent move on Abadi’s part !
We know that the farthest out date for completion of any item on the plan is 6 months with many of the economic items on the plan taking only 1 month to complete.
There is still lots of cleanup on corruption in many of the ministries. This is ongoing as the new ministers begin their work.
There is still the issue of getting ISIS out of Iraq and securing the boarders of Iraq. Just how far they need to go on this security issue is subjective. But I can imagine it may hinge on what happens next in the coalition’s plans for fighting DAASH and ISIS in Syria.
We know the new government is digging right into this new budget and we know that it can not be opened and spent without some currency reforms taking place first. There are also other financial and banking reforms too on the list needing a global currency example huge plans for the banking and e-commerce effort (also an item on the list of 27 demands) .
So a word of caution on anyone telling you once again it’s going to RV tonight or everyday. I wish they would simply stop this nonsense
Of course anything is possible, however if you just follow the progress of Iraq in the direction I have laid out in this news letter you will see there is still some progress needed. So to save much of your time, pain, anxiety and worrying about when you will be able to “go to the bank”, instead use your time wisely. Read, listen to the news and inform yourself. The articles are factual and you should be able by now ignore the ones that are nonsense.
The RV is coming and it won’t be long. It is not all that hard to see we are very close.
Peace and Luv To Ya All,