Popeye7: Imo, and just to set the record straight on this. the CBI does not have to wait on the next legislative session to actually change the rate of the dinar?... It would seem to me that in order for this supplemental food budget law to be be effective, the rate would have to change first?... Which is what the citizens are waiting for because their purchasing power is essentially very poor at the moment leading into this holiday period of Eid...
This would help the shops, and business's within Iraq if change were to occur before this holiday period begins on the 9th (this Saturday)....
After the holiday, once the next session of government proceeds, the monies from this ESFL will be divvied out with the brand new rate already enforced?... I am asking because it would seem the rate would have to go first before ESFL is fully implemented... Imo... Thanks MM, Tivon, Clare, and all who are giving info, and their own personal insight in this...
Popeye7: I guess another question would be, what exactly needs to be done in the next session if a change in the dinar is to be made after it begins?... What is the CBI waiting on?... I am not being impatient at all... Just curious as to what needs to be accomplished during this next session if the ESFL law has already been Gazetted... We should be good to go, or am I missing something?... God's timing of course, but from a physical perspective, just curious why the wait?... Imo.
Tivon: Law, Code, Policies and the Constitution of Iraq precedes any theories as to what they need or require in order to reinstate their currency. I am going on what is written. Opinions aside If it's not in writing it doesn't exist.
It doesn't matter what our favorite intel source says. I have been kicked off a few blog sites. When I decided to challenge one pervading thought as to how things might be as opposed to what actually was at that time I was deemed problematic. One person named _______who didn't approve of how I presented my information because it called into question his own. He banned me because none of it couldn't be refuted.
I actually got it from an official source. This is not about what can be said. But what can be proven. If Al-Kazemi wants the USD price reduced according to what is stipulated in the Constitution at the earliest possible time I am going to go with his expertise given the basis of which many things that are stated.
There is no land where man reigns over Law & Order. Guys you do know in 2018 Walkingstick stated a seated GOI is in place right? Well tell me why a rate was not released? This is why I constantly ask do you all really pay attention. Because it seems to me Walkingstick and I share the same thoughts as to what a seated government is.
So if we have a seated caretaker government now what does that tell you about what Al-Kazemi can do given what just passed as a supplementary budget or emergency law that constitutionally requires Al-Kazemi to address the USD rate at the earliest possible session?
Frank is also on record saying the same. Seems to me Al-Kazemi is taking his authority up a notch by requesting the USD rate be reduced according to Article 61 Seventh-C of the Constitution that grants him the power as a current government to execute reforms.
Since people like to reference Walkingstick so much I figured I show my support and post his statements for you. How do you follow WS this long and not know he said the below statements about the current seated government? Thank me later. IMO
September 4th, 2018
Walkingstick: A seated and functioning GOI is in place, I am speaking of parliament... blocs, managed by heads of blocs with their own self interests in mind...I changed the verbiage to eliminate confusion.
March 5th 2020
Walkingstick: I, was not… I have stated numerous times over the years, exactly.. what requirements were needed to successfully launch the RI… My response was to some who were under the assumption no form of government was in place.. I was alluding to the fact, although a caretaker government… It is, in fact.. a seated and government… An executive branch, PM and Cabinet…Although, unable to propose bills to parliament… They can and continue to issue directives.
Popeye7: Imo, Hey Tivon, appreciate your input... Just read your post, and am curious... Do you think that the CBI has to wait for the next session after EID to release the rate, or can it be done prior?... Are we in anytime mode, or does PM Kazemi have to address this issue in the next session?... I am just trying to bring clarity in my own mind...
Because of what I had mentioned concerning the exchange rate in my prior post... Why not release it now for the sake of the Iraqi folks... But if not, what is the CBI waiting on since the supplemental budget law has been passed, and the government, caretaker, or not, is seated... Thanks again...
PS... The CBI does not need permission from Kazemi to raise the rate of the dinar of course... So by waiting for the next session after EID, are they showing solidarity by Kazemi bringing it to the forefront, and addressing it... Then it will be shown everyone is in lockstep with one another?...
Tivon: Legally I presume a legislative session would be the appropriate time to address something of that nature. According to the Constitution. The CBI is an independent entity. So whoever weilds the power current political power which is Al-Kazemi due to the EFSL. Can request of the CBI to issue a decision on the rate. A legislative session is a special meeting of the legislature called by the governor or by the legislature over a specific subject matter. The subject being rate, oil, or employment. This is also called a extraordinary session. It's just being in alignment with the law. So of course the CBI will act in accordance to what stipulates the appropriate authority to demand a reduction in the USD. IMO
Popeye7: So wouldn't this trigger a run on the dinar by investors possibly if done in this fashion, rather than when anyone would least expect it?... I have read, and heard several opinions on this matter concerning the when of this, and that is why I was asking... Not asking for a specific date, but again trying figure out if they are out for the best interests of the people, why the wait to pull the proverbial trigger?... But I guess it goes back to the fact there more than likely is a specific date to this, and we are heading in that direction with every day that pass's... Thanks again.. Much appreciated...
Tivon: Remember the story of the guy who got caught at the airport with a bag full of Dinars? He was arrested right? You are only allowed to have a certain amount at the airport anyway. A run on Dinar doesn't exist simply because what is available is calculated and recorded before it even touches the hand of the vendors or the web store. That is not out concern. Who cares? That's their problem. I am not trying micromanage what they might or will do if speculators run wild. We don't work for the CBI so that is inconsequential to us. The request to change it vs when the CBI will do it are two different things because they do not have to telegraph either move. IMO
Suzie: and to be international, fully article 8 compliant as deemed by the IMF, looks like they're close.....any thoughts?....
Tivon: Suzie, if the IQD goes international wouldn't they be Article 8 Compliant by default? I think so. What about you? And yes I would like to believe we are close now that things are locked in with the Gazette. IMO