Bgg Roundtable News 7/27/15 Part 1 of 2
Welcome to dinarupdates.com for News Time with Millionday!!! BGG filling in today!
BGG: Alright - everything I'm going to cover comes out of the "Current Iraq NEWS" Forum...
BGG: If you all haven't seen the new format - IT IS AWESOME. Check it out.
BGG: Each article is separate and open for comments.
BGG: Also much easier to browse and "search"...
BGG: and before I move on - to our News Hounds, posters, and editors (we could use a couple more) THANK YOU - It looks GREAT!!
BGG: like LOOP said the other nite - this is IT in Dinar Land.
BGG: In no particular order...
BGG: World Bank gives Iraq two months to approve the anti-money laundering law
BGG: BAGHDAD / WAP / detection for economic and investment commission parliamentary member Ahmed Kanani, Monday, for the granting of the World Bank and international financial institutions Other, Iraq until next October as the date for the adoption of anti-money laundering law.
BGG: He warned Kanani said in a press statement News Agency Baghdad International / WAP / received a copy of it, "of the consequences of delays in the House of Representatives to pass anti-money laundering law and the financing of terrorism, which did not receive attention of the Presidium of the parliament."
He said that "Parliament did not pay so far significance required for this bio-law, which depends upon the continued continue Iraq economically with the outer perimeter and the focus of the Chamber of Deputies on the minor issues. "
BGG: He added that "Iraq would be included in the black list countries in economic deal and cash other than lack of enactment of this law, the measure would eliminate the purchasing power of the Iraqi dinar and put the bank CBI into a corner makes him isolated from the world organization. "
Among Kanani said that "the time limit was left of which only about two months and the Chairman of the House of Representatives that included law on the agenda for the nearest session, but will be responsible for the punitive economic measures to be taken by the world against Iraq." / finished 8
BGG: Are you seeing this???
BGG: I mean HOLY MOLY!!
BGG: Basically the WB is giving them 2 months to get this done - Or else.
BGG: First off - what's up with the "or else" tone?? Yikes...
BGG: it also portrays the WB has been assuming this would have been handled by now - pretty much guarantee this is the hold-up behind the various "aid packages" and loans.
BGG: also - I would imagine they know Maliki is the central figure in this problem.
BGG: (money laundering - via the CBI)
BGG: Just some of the "threatened" consequences...
BGG: Iraq would be included in the black list countries in economic deal and cash other than lack of enactment of this law,
BGG: the measure would eliminate the purchasing power of the Iraqi dinar...
BGG: and put the bank CBI into a corner makes him isolated from the world organization. "
BGG: but [Parliament] will be responsible for the punitive economic measures to be taken by the world against Iraq."
BGG: All I can say is SHAZAAM!!
BGG: if there were ever pressure on Iraq and the CBI - it is now...
BGG: all of the above in print and in the "Current Iraq NEWS" forum - DinarUpdates.com
jtank: strings attached
BGG jtank: of course - haven't I been saying that ALL ALONG???
BGG jtank: hate to say "I told you so..."
BGG jtank: but I did
Doodle Brain: Where is the Anti-money laundering law in Parliament? Has it been read once already? My memory fails me right now...
BGG: Not sure it's even been read...
BGG: but the WB is pointing out - Iraq isn't taking this seriously.
Doodle Brain: They are definitely putting the pressure one, that's for sure!
BGG: They need to - big time. The jokers behind the scenes getting paid (and can't leave the trough) are about to make the "BIG DOGS" not very happy.
jtank: they have been kicking the can on these laws for awhile now--what are they going to change to make it happen--removal of key persons?
BGG jtank: IMHO - yes... also what the WB is implying. They really need these "bad actors" dealt with - apparently, the "fuse is lit". 2 mos.
diagyAAAE: NOT your quote, it's from My Ladies.... "The bank said it "will sell that amount in Iraqi dinars and the price of 1095 dinars per dollar..."
OFF topic but is this an intro rate to the intl market? Intl Bonds?
diagyAAAE: "The central bank announced on Sunday his intention to put up bonds...
BGG diagyAAAE: no - that appears to be a "bond maturity price"... not even sure it is official...
BGG diagyAAAE: in the end, those are sovereign bonds anyway - not the international bonds. They are most likely being bought up by the CBI (with reserves).
BGG diagyAAAE: all off the top of my head.
BGG diagyAAAE: (which means I could be wrong on any or all points )
Doodle Brain: Found article, will post in Forum...written 7-21-15...here is opening of article "Iraq is stepping up efforts to curb money laundering and terrorism financing.
Iraq's parliament is expected to soon endorse a new law that aims to combat money laundering and terrorism financing, the government's economic adviser said.
Mazhar Mohammad Saleh told TR Zawya that the draft law, which was approved by the cabinet in June, would be more inclusive than a 2004 law that was drawn up by the Coalition Provisional Authority. He said the new law would cover tax evasion, smuggling of antiquities and cash as well as corruption."
Doodle Brain: doesn't mean it was read through...but just wanted to share that there is "noise".
BGG Doodle Brain: apparently - according to the WB - they need to "Step up FASTER"... or they get the "black ball treatment"...
wilson6060: Do we know what will happen if they do not meet the deadline.
BGG wilson6060: they laid out several very bad options in the article.
BGG wilson6060: Will they - I doubt it. I imagine Iraq will get the message.
BGG wilson6060: that is a serious threat.
tman23: Go ahead with the grand opening of bond sales......it should be a huge success with investors breaking down the doors to purchase....LOL......
And it appears that the laws would more less be amendments to existing, which would IMO be a precursor per se' that the sanctions on Iran are not by-passed by the Iranian supporters inside the GOI/CBI.......
And is it coincidental that Oct 1st is the day EVERYTHING begins.....Nuke agreement......and some countries beginning trade bypassing using the usd..........
Comments may be made at the end of Part 2 Thank You