Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Monday AM Chat 3-21-16 Part 1 of 2
rcookie says():Aab Contractors hold a Conference to discuss investment opportunities in Iraq March 21, 2016 2 0 Economy/Baghdad
Contractors said Arabs, starting with the organizational arrangements to hold an economic Conference discuss investment opportunities in Iraq, scheduled for May next year in Oman, Jordan.
The head of the Union of Arab Contractors Baadshah "Iraqi Arab Conference and exhibition will be held in cooperation with the Ministry of works and housing of Jordan and the Jordan Chamber of Commerce will host the 11 ministers from Iraq and some other relevant actors in Iraq."
"The Conference also includes three days several meetings including completed projects stalled and future projects in Iraq and current and pressing needs."
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rcookie says():He said he also will discuss "investment opportunities in Iraq and the role of banks in Arabic and Iraqi reconstruction and investment role and programmes of international organizations operating in Iraq and the role of unions in Arabic and Iraqi reconstruction, investment and reconstruction legislation and investment possibilities of financing and lending institutions in Arabic.
Hammadi noted that "there will be participants from Arab financial institutions at the Conference as well as to discuss several issues including the lifting of tariffs on equipment, labor, money transfer, bank guarantees in Iraq, corporate mergers Arabic for projects in Iraq.
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rcookie says():And in between, "the Federation's strategic plan started implementation of its objectives of increasing localization of factories and construction companies Arabic Arabic projects, and try to make the greatest projects in the region, with Arabic, Arab hands."
The head of the Union of Arab contractors that "revolutionized the digital economy now in the Arab world need more Arab solidarity in the construction sector for private sector development," Noting that "there will be broad participation in the Conference for Arabic in companies including Saudi companies".
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rcookie says():ARAB CONTRACTORS HOLDING CONFERENCE TO DISCUSS INVESTMENT OPPORTUNITIES IN IRAQ....
THINK ABOUT THE REPORT YESTERDAY THAT FOCUSED ON THE USE OF DOMESTIC LABOR FOR DEVELOPMENT PROJECTS VERSUS OUTSIDE LABOR FROM OTHER COUNTRIES AND THE IMPACT ON THE IQD CURRENCY IN SALARY PAYMENT....
rcookie says():BEING HELD IN OMAN JORDAN....WITH UNION OF ARAB CONTRACTERS...JORDAN CHAMBER OF CMMERCE AND 11 IRAQI MINISTERS AND RELEVANT ACTORS....AND WILL DISCUSS OVER 3 DAYS...COMPLETRED...STALLED & FUTURE PROJECTS....
rcookie says to doing90():NICE!!!!.....
wmawhite says to rcookie():Makes you think.............you do business in Iraq, you use our currency, just as in the UK....you use the GBP, in Japan you use the Japanese Yen, etc., etc.
wmawhite says to rcookie():Joining the world economic market.
rcookie says to wmawhite():IVE GOT ONE THIS MORNING THAT WILL MAKE YOU GO HMMMMMMM....
rcookie says to wmawhite():I WAS READING ONE OF MADDSCOUTS POSTS FROM OVER THE WEEKEND...
wmawhite says to rcookie():My wife keeps wondering what wrong with me. I continue to walk around making these strange sounds..Hmmmmmmmmm.
rcookie says to wmawhite():DONT THINK IT WAS TALKED ABOUT..BUT HAS SOME VERY ITERESTING HISTORY...DATA AND STATEMENTS...
Zig says():So if you are a company doing business in Iraq.....using the Dinar.....then wish to transfer the funds to an account in the USA it must be accepted internationally otherwise you would have to convert it into $$$ first then transfer it.....is that right??
rcookie says to wmawhite():THE ARTICLE GIVES A VERY DETAILED HISTORY OF THE IRAQI DINAR AND ITS VALUE THROUGH THE DIFFERENT PERIODS OF IRAQS HISTORY...
rcookie says to wmawhite():IT OUTLINES REASONING AND DRIVERS BEHIND THE VALUATIONS DURING THESE PERIODS..
wmawhite says to Zig():That would be the process......................if some guy from Japan came to the USD to buy any item......he would not be able to use the Yen. Instead, the yen is exchanged/converted into the USD to make the purchase.
wmawhite says to Zig():Let me explain more........
wmawhite says to Zig():Accepted internationally, is actually the process of a bank, anywhere, accept a currency and accepting it in "exchange" for another value.
wmawhite says to Zig():accepting another*
wmawhite says to Zig():There are numerous currencies throughout the world that are recognized but many financial institutions choose not to exchange them.....because the exchange would be of such low value.
wmawhite says to Zig():I am finished
Zig says():What about for a transfer of funds (Dinar) from a bank in Iraq to one in the USA...automatically converted to dollars only if recognized internationally, etc.....right?
wmawhite says to Zig():that is the process that Iraq is moving towards. That process, as rcookie, was referring to in an article, was destroyed during the years of Saddam.
wmawhite says to Zig():Banks must have confidence in a country and its banking institutions in order for them to exchange currencies. Part of that confidence is living by the IMF article 8 requirements.
wmawhite says to Zig():IMO,......that confidence will initially be evident throughout the Middle east region and Western Europe.
wmawhite says to Zig():Just my opinion.
Zig says():Companies must have that same confidence to branch out into Iraq as well......
wmawhite says to Zig():exactly,.......and IMO, we (USA) are extremely ignorant about the true nature of the ME and the business opportunities there.
rcookie says to wmawhite():IT TALKS ABOUT THE FAILED ACTIONS AND POLICIES THAT IMPACT THE IQD AND MOTIVATIONS BEHIND....(INFLATION...WARS...AUCTION FAILURES...CORRUPTION)...AND..
GOES SO FAR TO IDENTIFY 7 DRIVERS BEHIND THE EVER RISING DOLLAR TO THE 1QD...OIL MARKET PRICES...IRAQS FAILURE TO DIVERSIFY ECONOMY AND GDP...WAR....
SPECULATORS TAKING ADVANTAGE OF MARKET AND SECURITY STATUS...APPLICATION OF TAXES AND FEES...PUMPING & RELIANCE OF USD THAT CREATES INSTABILITY OF IQD...
AND FINALLY FAILURE TO ENFORCE AUCTION CAP REGULATIONS OF $75 MILLION(JAN 2015)...AND SUBSEQUENT DRAIN AGAINST RESERVES DUE TO THE FAILURE OF THE AUCTION PROGRAM (AUCTIONS AT TIMES EXCEEDED $300 MILLION)...CAUSING THE CBI TO ELIMINATE TAXES & FEES ON PURCHASE OF DOLLAR(8%)
wmawhite says to Zig():If the ME is all bad..............how is it that most of the world's wealthiest people are in the gulf region????
rcookie says to wmawhite():HERE IT IS...INDULGE ME FOR A SEC....
wmawhite says to rcookie():go for it...
rcookie says():Civilized dialogue – Mobile The dollar and the dinar again
Tahir Muslim cry 03/19/2016 an introduction :
Prevailed Ottoman Currency Iraq, such as Bakjh and Alorkh and Alsag and lunar and shark and Majidi gold lira, etc., and after the First World War and the entry of British troops Iraq, has become Anna Indian rupee is the official Iraqi currency and even in 1932, in which the Iraqi dinar was issued, it was equivalent to 13 rupees, has linking the pound sterling continued until 1959 where he became linked to the US dollar, and was then the equivalent of $ 2.8.
It achieved the Iraqi dinar, which is equivalent to a thousand fils, best distract him prices in the seventies when he equaled more than $ three remained conservative on almost its value against the US dollar during the Republican era, ie equal to three dollars and a third, but its value goes up at times for this price because of the boom economic witnessed in Iraq, especially in the second half of the seventies. This era also
rcookie says():business banking and infinite validity Iraq's central bank as a result of the adoption of the socialist system as an economic system of the Iraqi state, has been printed and punching all versions of the Republican era of currency in Britain, it has been customized and very high quality as it were relevant forms wonderful art.
Wars have led to high rates of inflation:
Faced Dinarmadlat inflation high, especially after Iraq's wars with Iran and America, which led to the collapse of the value of the dinar, according to financial experts that repeated elevations of the dollar and then relegation to the first levels, which the country has seen in recent times is not just a bubble caused by speculation, but returning to a variety of reasons objectivity, the state intervened in a part thereof, and the citizen is the only loser in the game of the dollar, and most important:
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rcookie says():HERE ARE THE 7 DRIVERS....
rcookie says():1. falling oil prices, which did not bracing his Iraq, although he did not get a sudden.
2. Adoption of the Iraqi economy on oil revenues only and the neglect of other sectors such as industry, agriculture and tourism.
3. who waged war against the country Daash and allocate a large part of the budget for the purchase of arms and the salaries of the soldiers.
4. resort speculators in the Iraqi currency market to raise prices, taking advantage of the security and political unrest in the country.
5. impose taxes and fees that came in the budget of 2015 and the application of the austerity policy, as well as the extraordinary security situation experienced by the country, which contribute much to lift the dollar's exchange rate against the dinar, and the lack of any clear plan for the advancement of the country's economy is influential factors directly.
6. Purchase capitalists funds large amounts of dollar and keep it as a result of instability, that the unstable political and economic co
rcookie says():7. According to the law of the state budget, which began in Parliament on 29 January last, which stipulates that the central bank is committed to identifying sales of hard currency [the dollar] in the daily auction ceiling does not exceed $ 75 million a day, with the exercise of justice in the sales process,
and calls for participating in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of buy the amount and otherwise applied to the bank penalties stipulated in the Central Bank Act or regulations issued from it, and use other banking instruments to maintain the strength of the dinar against the dollar.
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rcookie says():Mr. Abadi adviser statement:
Mr. Abadi to Aokd adviser statement came the rumors about a possible undersupply of the dollar and pointed out that "a determining central bank sales of the dollar in its daily auction was due to financial distress, home to Iraq and maintain the bank's foreign currency reserves.
He added: "We have in Iraq uncontrollable commercial and there are goods in the market is not worth the importation where there are stocks of durable household as materials and cars suffice Iraq for several years, but the import is continuing and this exhausts the state budget."
Between last year and this year:
This is exactly what happened in the last year where it began the value of the dinar is falling apart gradually against the dollar and over more than five Ochehrdon to turn one of the politicians of the topic or is developing a treatment challenge of it, so the dollar has reached more than 140 thousand Iraqi dinars and expect everyone continued to climb to reach at least 150
rcookie says():MR WHITE...YOU STILL WITH ME....
rcookie says():Mr. Prime Minister, and as one who was asleep and win terrified, he came out in the media to declare that he does not allow such a situation and that the dinar must return to the former Sarcherah, and the fast-track re-value of the dinar, which link within months, and in a few days !
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wmawhite says to rcookie():right here We ought to have a discussion about that article...........
wmawhite says to rcookie():What was the date?
rcookie says():FAST TRACK RE-VALUE OF THE DINAR, WHICH LINK WITHIN MONTHS, AND IN A FEW DAYS! WITH AN EXCLAMATION POIT!!!!.........WHAAAAAAAAT!...
Cricket22 says to wmawhite():http://www.m.ahewar.org/s.asp?aid=50...&cid=0&u&i=0&q
Geofitness says to rcookie():I brought this in last night right after MD was finished and no one expanded upon it so I felt as though it was not important
rcookie says to Geofitness():YEAH...MALIKI PROBABLY BOUGHT A NEW CAMEL...OR HOUSE...
Geofitness says to rcookie():So are they saying it will be within a few months? Or within a few days after the few months?
rcookie says():Such action make much explains the situation like this, which has damaged the generality of the people of merchants and citizens, as being the complicity of the state with the market brokers, and banking offices, which are the property of the party's powerful,
it was earners president who has done the state is deselected dollar amounts sold in daily auctions at the central bank for $ 75 million in each auction, and submit them sometimes for up to more than $ 300 million, and the state agreed to the proposal of the Central Bank of Iraq delete custom duty and tax levied on the purchase of the dollar, amounting to 8 -; -% -;
Called for the beneficiaries of the currency traders to increase the price to maintain their profits Aleomah.uetoly central bank also monitor these processes into a streamlined and transparent mechanism, with the development of creating capacity plan to activate documentary credits instead of the current method and coordination
Geofitness says to rcookie():Guessing few months and few days which may put us in June. Am I reading it incorrectly?
rcookie says():VERY IMPORTANT FINISH...
rcookie says():with the banks, and in return, the Aeltagrandma exposed to any loss it recovered from the citizen through multiple methods of monopoly goods or the imposition of additional amounts of the goods, and therefore the damage is due first and last on the ordinary citizen, so there must be a delicate balance in the process of reducing the exchange rate of the Dollar against the rising value of the dinar.
Processors are needed:
It must be an overall reduction of all state expenses quickly and in force before the cash for the disaster, and the state should not borrow loans and the benefits great because they mortgaged the future of Iraq attendees.
The important point must be the Iraqi government multiple sources of income from industry, agriculture, tourism and real encouragement to build economically strong country, Iraq, Turkey Fagarah oil does not have, however, more than the annual income of 800 billion dollars.
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rcookie says(9:06 AM):Of the most important treatments that help sustain the process of economic progress Hoanchae projects commensurate with the needs of the community, and that will strengthen the economy and occupy the workforce and stimulate the work of all sectors in the trend towards self-sufficiency to a certain extent a first step towards the development of scientific solutions to economic stability,
which is a step a necessity for the recovery of the life of society and psychological stability and living standards for all citizens, and should reject any mortgage for Iraqi oil wells that threaten Iraq's economic future completely. Link
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rcookie says():GREAT JOB MADDSCOUT & GEO...GREAT PIECE OF UNDERSTANDING IQD....