Post From Dinar Updates 2-12-16
Excerpts & Highlights
Dinar Updates Member Morning Chat 2-12-16 Part 1 of 2
subgirl says to clay01(): I'll bring some of it in...
subgirl says to clay01(): ECB Wants Proof That 500-Euro Note Helps Criminals, Mersch Says
subgirl says to clay01(): Assertions by law-enforcement officials aren't enough for ECB
Banknote policy was branded ‘shameless’ by Goodhart last year
European Central Bank officials want to see evidence that high-denomination euro banknotes facilitate criminal activity rather than relying on unproven assertions, Executive Board member Yves Mersch said.
“There are policemen who are having opinions on this matter, and also in the G-20,” Mersch told reporters in Zurich on Thursday. “I would be very happy if any substantiated evidence would be shipped to the ECB.”
clay01 says to subgirl(): not sure how this article is relevant to the Dinar?
subgirl says to clay01(): I know lol
subgirl says to clay01(): that is what I am thinking too lol
subgirl says to clay01(): Mersch spoke days after ECB President Mario Draghi told European lawmakers that the institution is reviewing its policies on issuing 500-euro ($560) banknotes. The practice has concerned law-enforcement officials in the region for years, and former Bank of England policy maker Charles Goodhart, an authority on money supply, described it last year as “shameless.”
In discussions with European law-enforcement officials, “it was always the same,” Mersch said. “We said: These are assertions. We would like to have them confirmed by evidence so that we could take the appropriate action.”
subgirl says to clay01(): Mafia Money
U.K. officials decided they had enough evidence some time ago. In 2010, British banks and money-exchange services stopped distributing 500-euro notes after a report showed that 90 percent of demand for them came from criminals.
A Bank of Italy study the previous year described how such bills were accumulated by mafia money launderers, terrorists and tax dodgers because they’re easy to hide and transport.
subgirl says to clay01(): Draghi, the Bank of Italy’s governor at the time, said on Monday that the ECB’s board has been considering the matter “for some time” and that technical work is under way to study the issuance of such banknotes. He spoke a day before the European Commission unveiled an action plan to clamp down on terrorist financing, including proposals for lower thresholds to limit anonymous payments.
subgirl says to clay01(): Orderly Fashion’
“There are questions on how best to implement a decision, and how to communicate this,” Draghi said at the European Parliament in Strasbourg. “We want to make changes, but we want to make changes in an orderly fashion. But rest assured that we are determined not to make seignorage a comfort for criminals.”
Draghi’s comments coincide with a period of reflection at the ECB on its stimulus measures and whether to expand them. Goodhart, speaking in September, suggested then that abolishing high-denomination banknotes might marginally help with that.
“If we were limited to low-denomination notes, at any rate because of the costs of stockpiling and all the rest, we can drive interest rates a little bit further down,” he said.
clay01 says to subgirl(): some times I read articles and think, why did they bring that in, but I guess what I miss others may find something useful
subgirl says to clay01(): well yes, I agree. lol
subgirl says to clay01(): there are some titles that might have something to do with dinar
subgirl says to clay01(): Who's Winning the Global Currency War? Not the ECB.
EU Banking Rules Divide at Euro-Area Border in Cameron Deal
ECB Needs Fed to Weaken Euro as SocGen Sees Policy Impotence
subgirl says to clay01(): those there are 3 titles of articles in this post...
clay01 says to subgirl(): the lower all the rest of the world currencies go the better the Dinar gets
subgirl says to clay01(): Who's Winning the Global Currency WAr might have some Iraq in it/?
subgirl says to clay01(): I agree!
subgirl says to clay01(): I think I will wait for rcookie to come in lol
clay01 says to subgirl(): the lower the dollar anf Euro go, if the Dinar stay the same, we gain value
subgirl says to clay01(): oh wow! sweet!!!
clay01 says to subgirl(8:30 AM): very little, but every bit helps
subgirl says to rcookie(): wanted to say thank you for the teaser!!
clay says to rcookie(): hey cookie :)
subgirl says to rcookie(): here is the title of your teaser :) http://www.bloomberg.com/news/articles/2016-02-04/ecb-wants-proof-that-500-euro-note-helps-criminals-mersch-says
Risk says(): RC.....opinion question for you......With the MOU in mind, and the end of Feb target date for Article 8,....ect.......With the dissatisfaction with the finance minister and IMF mandates not being followed...Is that Feb timeline in jepordy?
clay says to Risk(): Good question buddy GM
subgirl says(): here is an article from loop :) Abadi step to change the government's deepening sectarian rift within Parliament
subgirl says(): The largest Sunni bloc gives the prime minister a mandate to conduct a comprehensive cabinet reshuffle, while the largest alliance of the forces of the Shiite refuse to waive any position.
Middle East Online
Baghdad granting Iraqi Forces Union (the largest Sunni bloc in parliament) Friday, Prime Minister Haider al-Abadi, a mandate to conduct a comprehensive reshuffle in his government exclude from which ministers and political parties.
subgirl says(): He said the political bureau member of the Union Haidar al-Mulla, said in a statement Friday that "the forces coalition supporting the reshuffle expected if it led to the reform and we are preparing a means, a tool in order to achieve real reform sought by the people,
as long as we have emphasized and warned us over the past years of the danger of continuing sectarian approach political Rights, which the state and society necrosis and brought Iraq to the brink of collapse on the security and economic level. "
Al Mulla said, "Let us again and again to the need to adopt a reformist approach aimed at addressing the structural imbalance in the political process through genuine national reconciliation,
and build a state of institutions, and an end to the phenomenon of militias and arms rampant outside the framework of the state, and leave the state project components to the country of citizenship."
subgirl says(): Mulla pointed out that "the Iraqi forces union supportive of any process of a cabinet reshuffle, to end sectarian and party loyalties and establish a ministerial cabins built on the professional skills of the specialists, is able to achieve the vocabulary of the reform program."
The call came Abadi, after more than 12 years of the adoption of the share of government posts between Sunnis and Shiites and Kurds system, and the absence of government cabinets that formed over the past years of the ministers "technocrats" not affiliated with political parties.
Dinar Investor says(): Anyone else excited for Deadpool today? I used to read all the comics during childhood. I can't wait!
subgirl says(): http://www.dinarupdates.com/showthread.php?29873-Abadi-step-to-change-the-government-s-deepening-sectarian-rift-within-Parliament
rcookie says to Risk(): THEY ARE DISSATISFIED NOT BECAUSE IMF MANDATES NOT BEING FOLLOWED OR COMPLIED...SO NO...
THEY ARE WAY AHEAD OF SCHEDULE FOR THEIR FEB & APRIL REVIEWS AND TASKS....
THEY ARE UNHAPPY WITH MOF BECAUSE OF SLOW PROGRESS TOWARD SOME IMF ISSUES...AND IN PARTICULAR LOOK WHAT THEY SPELL OUT....PFM PUBLIC FINANCIAL MANAGEMENT....
STABILITY TO FINANCE SECTOR (ISSUING LOANS TO STIMULATE PRIVATE SECTOR)...AND COUNTER MONEY LAUNDERING.....
MOVING TO A (STA) SINGLE TREASURY ACCOUNT...AND PIM PUBLIC INVESTMENT MANAGEMENT REFORMS..
rcookie says to Risk(): YOU SEE TERMS LIKE "POOR PUBLIC FINANCIAL MANAGEMENT"...."BLOATED GOVERNMENT PAYROLL"....
"IRAQ'S WEAK PFM FRAMEWORK"....AND "LOW EFFICIENCY OF PUBLIC INVESTMENT"..."BRINGING STABILITY OF FINANCE SECTOR"....
AND LOOK WHO THEY POINT THE FINGER AT CONCERNING THESE STATEMENTS....
LOOKING FOR CHANGES IN SHORT TERM FROM MINISTRY OF FINANCE...AND AGAIN MENTION OF STA...ETC....
rcookie says to Risk(): THESE ARE ALLMISSUES THAT ARE COVERED IN THE LOI/MEFP.TECH MOU....BUT ALSO....IN THE RECENT IMF METAC WORKSHOP ON PRICING INDEXES THEY JUST COMPLETED....GOING TO TALK ABOUT TODAY,,,,
wmawhite says to Risk(): No where is it in any IMF document that the end of February 2016 is a target date for Article 8. However, it is easy for us to tie the two tegether.
Dinar Investor says(): So what ever happend to tommorrow being the deadline for Amnesty of the Federal Court? I haven't seen anything on it since that article on Feb 7th saying the deadline was the 13th? Maybe pushing it out because of reshuffle?
Dinar Investor says(): or is it next week's saturday?
Wyomingbill says(): I still don't think we will see a RV until Isis is more contained, I think everyone understands why. also oil will go after Isis is contained. also still believe is in charge of CBI I think Iraq is farther along than we think. with good luck we might see RV in two or three weeks
Risk says to wmawhite(): Your right.....And that's what i based the question on
wmawhite says to Wyomingbill(): Did the IMF tell you that, because they told the world something different.
Mrs BGG says(): For anyone who hasn't visited our facebook group, here is the link to the page, https://www.facebook.com/groups/571383766355188/ !!
Comments may be made at the end of Part 2 Thank You