MilitiaMan Sunday Afternoon "It Is Definitely Underway" 10-16-2022

KTFA:

The Central Bank of Iraq participates in the annual meetings of the International Monetary Fund and the World Bank  LINK

MilitiaMan:  There is a 15 page pdf file on this subject out from the CBI in Arabic. It goes into detail for letters for credit and guarantees. All of it on and about their electronic platform.. They are readying to get this country into an international environment for trade.

The likes of the World Bank, International Monetary Fund, US Treasury, American Chamber of Commerce, etc.. of late are all about moving forward and apparently finalizing necessary formalities. The document is instructions on the implementation and rules of the platform, letters of bank credits and guarantees.

All items are looking to be in place now or at least well underway.. A good thing.. imo ~ MM

KandG:  Thanks MM - what are your thoughts about all of the instability that is now occurring based on multiple articles today.  Do we really think the CBI will act under these conditions. Seating a government and seating this train wreck are 2 separate things.  Will the CBI choose to ignore the politics which we have been taught - in order to releive the pressure of the UN, WB, etc - assuming their pressure is really being applied for the good of the Iraqi citizens ??  Inquiring minds would like to know your thoughts on these specific points.  IMO  

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MilitiaMan: Just because one feels the circumstances are a "train wreck", may not be the case at all. Once the voted the president and then the PM we watch for a seated cabinet.. There is nothing to say that is not underway nor going to be postponed. They gave a within time frame. The authority on the matter has not spoken to a date specific. A deputy apparently has stated end of next week.

As I pointed out today, they are in consistent with news and likely on purpose to keep things specific to be on the backfoot if you will. Something Dr Shabibi told us would happen at the end.

Kuwait had no running water nor electricity when they RI'd. They have a President and a PM working to sort the cabinet while today there is a new Finance Minister in her office while the deputy is in WDC with the World Bank, IMF, UST, US Chamber of Commerce...

The CBI is independent don't forget.. The meetings are all about electronic platforms and letters of credit and guarantees.

The meetings are likely final training on the new system.. They are not going to drop off a new electronic system and not train them on the rules and regulations and processes.. That would be like bringing a new MRI machine to a hospital and drop it off with out instructions.. lol

Getting the purchase power is all about the citizens. My contact source "a Doctor" from Iraq tells us that the citizens are happy and expectant of a rate change..

So, there are my thoughts.. I am in a good place as I understand it to be, it is not all about Iraq.. It is far bigger than that and it is definitely underway and we see evidence in the aforementioned articles too.  imo.. ~ MM

There is nothing politically incorrect about calling something a train wreck. Call it for what it is.. The thing that gets me is many do try and bring in links to support the good side of things and even the bad side of things.. I would bet if I were to go to articles and look for all the negative things that can be found in them and then focused in on them and put that negative focus into the forum, there would likely be mayhem. 

I can see where people see things after 10-15 years or more of things not having happened yet. There is laundry list of reasons why to that, that are very valid to support the why they haven't changed the exchange rate yet. For instance. ISIS, Spichter massacre, new electronic digital systems coming on line, political shifts, Iranian influence, Covid-19, Oil shocks, etc..

All of this things are in articles and support that what I am saying is and are very real. I get the frustration just as much as anyone, however, I get the positives too, and when we can clearly see the positives unfolding before us, it is surprising to me to see such  frustrations and the negativity. 

The atmosphere I see leads me stay with those items of positivity. This is not all about Iraq, but, it has an Iraq centric component to it be sure. Iraq is a very wealthy country and in the global scheme of things, she is a necessary component to help fix the financial system before us..

Iraq knows that they are a key player, not the only player. What we have witnessed from and by the pressures from the UN, IMF, WB, UST, etc.. are all focused on a legitimate government and reforms to be completed for the citizens and to interconnect with the international markets via electronic platforms.

True, there are many that don't want change.. Those that are a part of the cash cow of corruption know if they lose that? They likely will lose immunity from the circumstances they see before themselves. That is likely t obe  life threatening for some. Hence, the extreme push back to not get reforms done..

With what we see with the push now to get the GOI off and running is a very good sign that should actually be a breathe of fresh air. Even with the Coordination Frame work influence. Sadr has told the UN and the Frame work that corruption  is on watch for the next six months.. The man may have not taken a seat that helm in the GOI, but, he can easily throw cross currents in the millions of supporters on the street and quickly. We can see that there is a peaceful side to the street now, thus likely what Sadr did was not a mistake, but a tactical move that was agreed upon by the whole.. 

Global expectation is very high for Iraq and the world to interlink with electronic trade on platforms.. That will take an international Article 8 compliant currency.. That is what the world expects and likely to have been the focus of the past few days in DC... Follow the money... There is going to be much afloat here on out.. imo  ~ MM