BACKDOC: TONIGHT (Tues.Night) WE HAVE TO BE ELATED AS WE WATCH A MASSIVE NUMBER OF LAWS FINALLY BEING IMPLEMENTED, TARIFFS READY TO GO, TPP ABOUT TO BE SIGNED ON THE 4TH AND 5TH, SECURITY ABOUT TO BE WRAPED IN FALLUSHA AND MOSUL!
NOW THAT IRAN HAS AN OFFICIAL INTERNATIONAL RATE I SINCERELY DOUBT "THE DEAL", WOULD ALLOW IRAN TO RUN LIKE THE GINGERBREAD MAN TO A NEWLY VALUED CURRENCY WITHOUT IRAQ AND POSSIBLY S.A.!
SO WE WAIT TILL THE 8TH FOR THE SHIA BROTHERS TO LAUNCH INTO THE WORLD AS IRAN SAYS!
HOPEFULLY WITHIN 10 DAYS AFTER WE COULD SEE MORE THAN JUST GINGERBREAD COOKIES! HEE HEE
BACKDOC: How to become a member of the WTO
Article XII of the WTO Agreement states that accession to the WTO will be “on terms to be agreed” between the acceding government and the WTO.
Accession to the WTO is essentially a process of negotiation — quite different from the process of accession to other international entities, like the IMF, which is largely an automatic process.
So the IMF follows standard regulations to join them,but the WTO is negotiable.
Becoming a full member
Once approved by the General Council of Ministerial Conference, the applicant is then free to sign the Protocol of Accession stating that it accepts the approved “accessions package” subject to ratification in its national parliament. Normally three months is given from signature of the Protocol of Accession for this to take place.
Thirty days after the applicant government notifies the WTO Secretariat that it has completed its ratification procedures, the applicant government becomes a full Member of the WTO.
This information comes from : https://www.wto.org/english/thewto_e/acc_e/acces_e.htm
Blinkster: Wow, wow...WOWEEEEEEEEEEE! Let's see- 90 days PLUS the 30 days after notification of ratification = 120 days. The WTO only grants full accession in JUNE...sooooo 120 days before June is....Bueller? Bueller?
No date or rate intended here, just an approximation IMO
BACKDOC: AS I UNDERSTAND IT, THE 90 DAYS CAN BE INCLUSIVE TO THE 30 DAYS IF THE WTO IS NOTIFIED AFTER 60 DAYS. DOC IMO
Walkingstick: Judiciary: private banks began to pay Gramadtha since last July by 10 billion dinars per month
Editor: NS 2016/02/03 13:52
Long-Presse / Baghdad
It announced the cover of integrity, money laundering and economic crime in the Baghdad court on Wednesday, the start of the private banks to pay what Bzmtha of fines and benefits Tojerih to the Central Bank of Iraq since last July by 10 billion dinars per month, while confirming that these banks were able to repay 46 billion dinars.
Said Judge Radhi Fartusi in a statement received (range Press), a copy of it, that "the central bank already established a number of lawsuits to 28 banks waged a result of falling into breaches of the law after discovered by the Office of Financial Supervision," noting that "these banks paid 46 billion dinars, and on more than one batch, which is part of the amounts claimed benefits The delay with previous years. "
He said Fartusi, that "the remaining owe fines and benefits of up to 191 billion and 551 million dinars," pointing out that "private banks committed by a decision of the Central Bank for payment during the timeframe ends in January of next year."
He Fartusi, that "payment by installments received a total of 10 billion dinars per month system," adding, that "the obligation to pay begun since last July."
He explained the cover of integrity judge, that "the restoration of this follow-up to the amounts received directly by the President of the Federal judiciary Judge Medhat al-Mahmoud, and the presidency of the resumption of the Federal Court of Rusafa."
The Prime Minister Haider al-Abadi called, on Wednesday, the (23 September 2015), the judges of integrity to the beating with an iron fist, justice and do not let the corrupt evasion, and while stressing the need to confront them because they are "more dangerous than cancer" and trying to buy receivables, stressed the need to develop strategies help to deter corruption and speed up the solving these issues.
The phenomenon of corruption "the biggest challenge" facing Iraq as well as security, since the year 2003, especially the levels reached a level led international organizations specialized to the situation in Iraq among the "most corrupt" countries in the world, as it led to popular protests successive last of which was pervaded Since the majority of the provinces (the 31 of July 2015), to demand the fight against rampant corruption, and improve services.
http://almadapress.com/ar/news/64097/%D ... %AF-%D8%BA
Walkingstick: Retirement pay of workers on Sunday and Monday
February 3, 2016
Called on the Ministry of Labour and Social Affairs - Department of pension and social security, on Wednesday, creditors workers of campaign cards, the "Ki-Card" and "manual exchange" to receive pensions for the months of January and February will be held on the seventh and eighth of this February.
A statement of the ministry and agency of our economy news received a copy of it today, that "the exchange workers' salaries creditors of ironing Card holders will be on Sunday, the seventh of February will next week, in what would be the salaries of employees exchange exchange manual on Monday, the eighth of this February."
"The amount of pensions turned to the General Administration of the Rafidain Bank for the purpose of distribution in accordance with the dates who identified above."
http://www.iqtesaduna.com/2016/02/03/%D ... %AD%D8%AF/
BACKDOC: RETIREMENT PAY OF WORKERS GOES OUT ON THE 7TH AND 8TH?
LAUNCH DAY AS IRAN SAID? MMMMM
BACKDOC: CURRENTLY, MOST THINK THE YUAN WILL CONTINUE TO DEPRECIATE OVER THE NEAR TERM.
IF THE SAUDI RIAL DE PEGS FROM THE DOLLAR TO GIVE IT COMPATIBLE CURRENCY WITH ITS NEIGHBORS AND SWITCHES SETTLEMENT OF ITS OIL IN YUAN I THINK THE YUANS SLIDE IS OVER!
THESE ARE JUST MY THOUGHTS AND POSSIBILITIES BUT ONE HAS TO WONDER WHY HAS S.A. HALTED ITS CURRENCY FROM TRADING?
WHAT IS IT WAITING FOR?
EITHER INCREASE YOUR NOTE COUNT AND STAY PEGGED OR DE PEG AND PROTECT YOUR NOTE COUNT AND RAISE YOUR CURRENCY VALUE TO A COMPARABLE LEVEL WITH YOUR BROTHERS! MMMMM
MAYBE IT TOO IS WAITING FOR IRAN AND IRAQ TO ACT? MMMMMM
THIS MAY BE THE SAME TIME THE YUAN DE PEGS FROM THE DOLLAR AND PEGS TO A BASKET!
8@8, DOC IMO
Walkingstick: New currency fix plan proposed for Chinese Yuan
Wed, Feb 03 2016, 07:48 GMT
FXStreet (Mumbai) - Some analysts have called for a new currency fix plan according to which China is to let the yuan fluctuate easily against a basket of currencies within a trading band. The trading band be 4 per cent to 15 per cent, meaning the range of fluctuation could be as narrow as 4 per cent and as wide as 15 per cent. The central bank would intervene only when the currency fluctuates outside the band.
This plan could act as China’s safeguard in the wake of the changes introduced in its currency policy which led to huge outflow of $500 billion foreign reserves in the recent past creating capital crunch in the system. This plan is similar to one adopted by Singapore.
The current system in place allows yuan to trade 2 percent above or below a reference rate versus the dollar. The reference rate is set by the PBoC and concentrates attention only on the on the dollar-yuan exchange rate. Also, given the lack of transparency investors find it difficult to understand how exactly the reference rate is decided upon and they are compelled to doubt the intention of the policy makers. Tamim Bayoumi, a senior fellow at Peterson Institute for International Economics and an economist at the IMF via Bloomberg “They are sort of stuck, I don’t think the market knows what exactly the policy is”.
More importantly this new plan will be targeting more currencies and a wider band and thus will empower market forces to have more say in determining the exchange rates. The clarity in process will help China save its foreign reserves and also eventually shift focus of the investors away from the US dollar.
Ever since Chinese policy makers introduced changes to the currency system to make it more flexible they have been trying to bring about stability in its currency market. Though policy makers have reiterated time and again that they intend to keep the exchange rate stable against a basket of other currencies even if it falls against the dollar, investors have not been convinced. Investors have been left feeling jittery particularly after yuan’s 5.6 percent slide versus the dollar over the past six months raised speculation of further devaluation. The central bank was almost forced to dig into its foreign reserves and tighten capital controls to support the yuan.
According Yu Yongding, a former academic member of the PBOC’s monetary policy committee the new plan is unsustainable as it make way for the central bank to completely deplete its $3.3 trillion in reserves shortly. He feels that the PBoC should aim at an adjustable reference rate and a trading band of 7.5 percent or even 15 percent.
China Foreign Exchange Trade System, a central bank unit sated on Monday that policy makers may introduce further reforms in its currency system. The government may likely opt to raise the “flexibility” of the yuan against a basket. analysts at Credit Suisse Group AG feel that Monday’s statement is an indication on “how the government hopes to manage the yuan”.
Some analysts are however not too confident about new system. Qi Gao, a Hong Kong-based strategist at Scotiabank said via Bloomberg that “Targeting the basket is difficult because the yuan’s movement in itself could feed into the fluctuations of a broad range of exchange rates, creating the risk of a depreciation spiral”
http://www.fxstreet.com/news/forex-news ... bbc521a422