Listen to the Call for All News Shared
Conference Call Replay for Sunday - June 03, 2012
or Call:760-569-7699 / Pin 769478#
Highlights & Summary of Last Night's News
-Thanks to Brenda for the Summary/Cliff Notes-
"Straight Talkin' Mike" Recaps and Summarizes The Nights News
(Listen to the recording for all of the detailed analysis of the articles discussed - So much great information shared... The following is just a recap of the articles discussed on the call)
Discussion and Comments after some of the News Articles Discussed
Assurances of Completion and Readiness of the Project to Delete the Zeroes...
The CBI is very consistent with the message they have… WE ARE ON COURSE... WE ARE DOING WHAT WE NEED TO DO... AND WE ARE READY AT A MOMENTS NOTICE TO DO IT… We know they are ready... All of the articles coming out of CBI have a very consistent message and they say the same things over and over again… They know what they are doing... they know exactly where they are going - There is no question... Don't get confused about the dates - there are stages to this whole process - sometime, before or during this process, they are going to RV their currency and they are looking to stabilize it and get the exchange rate down to a point where it will make it easy for them to do the things they need to do… All the positive things that have happened with this currency over the last week and a half are extreme things that were needed in order to keep the currency stable - When we see these type of articles we read about tonight... Letters of Credit and all of these other things we have been watching for, stabilizing their economy and the value of the currency - it helps the project moving forward… they know exactly where they are at.
Central Bank: Sovereign Bonds of Iraq the Most Expensive in the World:
Sovereign Debt... That is a huge statement "Iraq's right to equality peg to the dollar as it is now open economically to the world and cannot be isolated again from the incubator International"... Stating "pegged to the American dollar and that’s what they are working to stabilize and they are moving forward… The idea that they are the strongest bonds ... you don't buy sovereign debt unless you think the country is going to succeed - It is not something you speculate on - for the most part to be the strongest sovereign debt out there you have to have a good economic forecast - good GDP growth - production in value - AND you are going to have to have value in your currency at some point in time -
so everyone is seeing that and wanting to get a piece of that and make money off of that debt because they get interest on the debt... absolutely awesome.
Foreign Relations calls for the development of Iraqi Banks thru the Agreement with the United States
Great article about United States Treasury and Jeffries... It was good to hear Jeffries talking about the Final Chapter of the Future of Iraq Project - reassurances that it is moving forward.
Great articles about the private sector today and how important they are as Shabibi spoke about several weeks ago - Great Great articles.
We know that they have the votes… so don't get confused by the articles whether they do or they don't… They have the votes or they would not be pushing this hard… They have to drop if off to the Parliament... they will have a vote... but before that you will see many articles for each side... opinion pieces... and you will see that until we have the outcome of this political process… My feeling is Maliki is going to be gone but I would not be surprised that he makes his last stand and try to get some sort of agreement… they are going to move forward - Don't get confused about the articles... certainly there is a lot going on… Don't think there is a delay… it’s just the natural process Iraq works with - We've talked about it over and over again the time and patience they need and it just is at the point we have to be patient and watch it unfold - Its going to happen on their time and they will do it when they want to do it… but we are moving forward.
National Alliance to Nominate Jaafari in the event of Withdrawal of Confidence... Great article… very excited about this article… I think this will push into Monday or Tuesday because this will be World News when it happens - Very excited they are moving forward with this process - let’s watch it as it happens and unfolds.
We discussed they are really going to try to stabilize their currency with these Letters of Credit as we discussed on our call last week… There's a lot they are doing to prepare themselves and keep things going… As we have discussed over and over and as I always say We don't know what we don't know...we do know they are working very diligently to get these things stabilized... they have their plan… they can implement at a moment’s notice… They are ready... they are ready... they are ready... that is the consistent message.
The Maliki situation is just a process - we've talked about this many times....it’s a process they are going thru… We will watch to see how it unfolds... Don't get too excited about 1 article - keep it in your mind that you really want to not get too excited or unexcited about things... there is bias in the articles coming out - My guess is there was a delay possibly with Najafi being sick or there is a possibility that there is intensive negotiations behind the scenes – Monday - Tuesday should be a good day... one more step in the process in what’s going on… The CBI seems to be very confident in what’s going on... they are moving forward at break neck speed - we should have confidence that it will be finished in its time.