Post From Dinar Updates 2-16-16
Chat Room Excerpts & Highlights
Dinar Updates Monday Chat 2-16-16 Part 1 of 3
DHOLLA says(): http://www.cbi.iq/index.php?pid=CurrencyAuctions
rcookie says(): AUCTIONS DOWN TO 101 MILLION...
rcookie says(): 1 BILLION DINARS PER DAY REVENUES GENERATED TOLLS/FEES ON VEHICLES ENTERING BAGHDAD....MORE NON OIL REVENUES....
rcookie says(): WOW!!!.........LOOK WHAT THEY MIGHT BE TAKING AWAY FROM KEYWORDS...
rcookie says(): Central: We are responsible for the financial and currency auction unprepared for the exercise of this role
Tuesday February 16, 2016 10:05 Alsumaria News / Baghdad, said the Iraqi Central Bank, on Tuesday, he was in charge of holding the currency auction, between the Ministry of Finance is ready to exercise that role.
The governor of the bank on the Keywords in an interview with Alsumaria's News, "The central bank is responsible for conducting the auction currency under the law, which he considers responsible for the stability of the exchange rate, "noting that" it is theoretically possible that the Ministry of Finance to conduct an auction currency, but in practical terms is not possible. "
He Keywords that "the Ministry of Finance is not interested in achieving the goals of monetary policy Castaqrar exchange, but is interested in obtaining as much as possible from the dinar from the sale of dollars without paying attention to the overall stability of prices or the exchange
rcookie says(): rate stability," explaining that "this process by type of risk can not the Ministry of Finance unsustainable.
" He continued," the Ministry of Finance has historically not accustomed to exercise such a process so that the balance between sales of the dollar and the stabilization of the exchange rate, "stressing that" the central bank has the mechanisms and tools and his outlook and the rules of his work and his ability to control the this process. "
Central Bank of Iraq and founded an independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies being sessions a day for buying and selling currencies.
Read More :
rcookie says(): HMMMMMMMM....SADR CALLING FOR HIS JOB....INTEGRITY WANTS HIM GONE....SISTANI....ON LIST OF 71 FROM US & EU...
NOW LOOKING AT MOF VIABILITY IN TAKING OVER AUCTIONS TO STABILIZE THE DINAR AGAINST THE DOLLAR IN THE MARKETPLACE...
WHICH IS THE PRIMARY ROLE OF THE CBI.....I WAS ALWAYS TAUGHT IN BUSINESS THAT WHEN TWO PEOPLE OR ENTITIES SERVE PARALLEL PURPOSE...PERFORM ON SIMILAR NEED BASIS ...ONE OF THEM IS UNNECESSARY....
Horsegal says():Woohoo get 'em
rcookie says():KEYWORDS NEED A FRIEND AND A HUG....
wilson6060 says to rcookie():By a python....lol..lol..lol
rcookie says():NEEDS A TEDDY & BINKY....
rcookie says(): SUGGESTING MOF TAKING OVER AUCTIONS....
rcookie says(): FIRE & TMAN...DID YOU SEE.....
rcookie says(): 2 REASONS GIVEN FOR SHABIBI'S OUSTER AS GOVERNOR IN 2012...FAILURE TO STABILIZE THE VALUE DINAR AGAINST DOLLAR IN MARKET....AND PROCEDURES THAT ACTUALLY WEAKENED...
AND INSUFFICIENT OVERSIGHT OF CAPITAL OUTFLOWS....SHABIBI CLAIMING THE "ROOT" SOURCE OF THE ISSUE BEING THE USE OF THE RESERVES FOR THIS BUDGET...WHICH WOULD HAVE A NEGATIVE AFFECT ON CURRENCY........
mudder says(): IMO.... MOF taking over the auction.....WON'T HAPPEN...
rcookie says to mudder(): WHY IS THAT...
clay01 says to rcookie(): Was this in an article from today? 7:42 AM] rcookie: 2 REASONS GIVEN FOR SHABIBI'S OUSTER AS GOVERNOR IN 2012...
FAILURE TO STABILIZE THE VALUE DINAR AGAINST DOLLAR IN MARKET....AND PROCEDURES THAT ACTUALLY WEAKENED...AND INSUFFICIENT OVERSIGHT OF CAPITAL OUTFLOWS....
SHABIBI CLAIMING THE "ROOT" SOURCE OF THE ISSUE BEING THE USE OF THE RESERVES FOR THIS BUDGET...WHICH WOULD HAVE A NEGATIVE AFFECT ON CURRENCY........
rcookie says to mudder(): THE CATASTROPHIC FAILURE OF THE AUCTION PROGRAM TO EXECUTE AGAINST ITS PRIMARY CORE VALUE PURPOSE (STABILIZING THE DINAR AGAINST USD) WHICH HAS UNDERMINED THEIR ENTIRE ECONOMIC WELL BEING...
NOT TO MENTION THE TRANSPARENT CORRUPTION..CURENCY SMUGGLING...MONEY LAUNDERING AND ILLEGAL BANKING ACTIVITIES....ESPECIALLY FROM 2 BIG STATE BANKS...
mudder says(): Because governments don't do that.... Banks do that... US Treasury... I would also check the role of the GOI and the CBI.....IT WON'T HAPPEN....
It would be easier for Abadi to shut the GOI and get a new Governor by Proxy... If that's what needs to be done....
clay01 says to rcookie(): thanks, :)
rcookie says(): WHAT DO YOU KNOW OF THE OFFICIAL LEGAL CBI STATUS OF GOVERNORS POST SHABIBI...
rcookie says(): AS FAR AS PROXY'S OR ACTING GOVERNORS...ESPECIALLY IF THE LEGAL IMPETUS BEHIND SHABIBIS REMOVAL HAS BEEN PROVEN LEGALLY UNFOUNDED ON BASIS...
rcookie says(): NOT SUGGESTING SHABIBI REINSTATEMENT WHATSOEVER...BUT ACCOUNTABILITY OF PLACEMENT..LEGAL STATUS...AND PERFORMANCE POST SHABIBI...
clay01 says to rcookie(): by the first half of 2016, lets hope for us CBI governor is a mute point, we should be getting close
subgirl says to clay01(): yes, very close!!!
clay01 says to rcookie(): after this thing pops, they can put Mickey Mouse in as CBI governor for all I care, lol
rcookie says to clay01(): THEYVE ALREADY TRIED GOOFY!!
clay01 says to rcookie(): lol(y)
subgirl says to rcookie(): lol
joyojoy says to rcookie(): zing!
rcookie says to clay01(): AND DOPEY!
clay01 says to rcookie(): maybe they will try the 12 dwarfs, lol
rcookie says(): Central Bank: the public retains 85 percent of the money in circulation in the market
February 16, 2016 The Iraqi Central Bank, said Tuesday that 85% of the money in circulation in the market is to the public, and noted that State banks accounting for most of the financial reserves of the deposits of the public, the Ministry of Finance refused to increase benefits.
The Director General of the Directorate and in Central Bank coffers Ihsan HostMonster told News Agency obtained our economy that today trades in the market of Iraqi currency reached 38 trillion dinars, of which 85% among the general public and 15% in the banking system ", stating that" the funds of the public portion of trading and other chunky. "
Read More : http://www.dinarupdates.com/showthread.php?30100-Central-Bank-the-public-retains-85-percent-of-the-money-in-circulation-in-the-market
rcookie says(): Hostmonster, added that "the Central Bank is trying to encourage the public by luring him with certain tools such as issuing bonds and remittances even gets the dinar from the public that depends on the Ministry of finance, which owns the largest banks that acquires greater financial reserves of the deposits of the public which must convince the public giving high interest but this increase rejected recent."
Hostmonster, confirmed that "the Bank thinks the lure the audience to pull the dinar by putting the interest of 15% of national financial bonds the Ministry of finance, however, hesitant and not enthusiastic," pointing out that Iraq should reflect phase and to respond to financial pressure bank issuing bonds to solve the problem. "
Read More :
rcookie says(): CBI STATING THE PUBLIC RETAINS 85% OF THE 38 TRILLION DINARS TRADED IN THE MARKET TODAY....
rcookie says(): AGAINST 15% IN BANKING SYSTEM...
clay01 says to rcookie(): IMO, the "Public" can't have that much Dinar out there, it may be in the hands of a few, but the general public doesn't have it
rcookie says to clay01(): THE CONSTANT CRY OF LIQUIDITY CRISIS SUPPORTS THAT MINDSET...
clay01 says to rcookie(): Yes, exactly
rcookie says(): GUESS THEY'LL HAVE TO KEEP BLOWING UP BANKS.....
clay01 says to rcookie(): with all of the incentives the CBI is putting out there to get the dinar off the street, they would have seen something, but the results of said attempts, indicate there is no liquidy
tman23 says(): Remember back when Abadi as Chairman of Finance announced removing the 3 zeros 9/2012 to begin 2013 (providing the new currency was ready in time) and 10/2012 Shabibi took off to Japan for a ""meeting""...... (thats when Maliki had the courts place the arrest warrant)...........
Right before all this Shabibi was speaking about retiring come November 2012, saying his time was up .......... Point being, lifting, removing 3 zeros or whatever it involves.......
We will call it monetary reform .......AND by the IMF's articles on the subject (3 zeros and monetary reform) it is a very fragile operation with no guaranteed succcess......
So why would Shabibi the sitting governor be talking about leaving in Nov 2012 and Abadi announcing lifting the 3 zeros..... Point being......
They have been in this cat and mouse game through media for quite sometime regarding their currency.......... AND even their citizens are confused.. Disfunctional ?? or Misleading with purpose ??
clay01 says to tman23(): what purpose to mislead their citizens, what do they benefit
clay01 says to tman23(): asking, please
clay01 says to tman23(): I understand the mistrust from the citizens not to trust the banks over there, after not being able to get funds back out of the bank when they needed it, but what else do they fear
angus says(): Do you guys think that post change in currency that the Iraq people will at that point trust the banks and use them?
clay01 says to angus(): trust is earned, IMO
tman23 says to clay01(): Good question and do not have an answer........so then it must be "disfunctional" !!??
clay01 says to tman23(): to me, that is the more logical choice, they seem very disfunctional all the time
clay01 says to tman23(): they would rather stand aroung and point fingers at each other, than get to the root of fixing their problems, reminds me of our Congress, lol
clay01 says(): they have people in very important positions that are not qualified to do the job, so the job doen't get done, and that leads to other jobs not getting done, they are only as strong as their weakest link, Abadi looks to be fixing that, at least he has some since to see where they are, and where they need to be, a sign of a good leader, IMO
BGG says to clay01(): we have people here - in very important positions that are not qualified to do the job...
BGG says(8:42 AM): Good Morning everyone.
rcookie says(): SOME 2014-15 STATS ALONE.... IRAQ ranks 4th “MOST CURRUPT” nation in the WORLD out of 174Total Countries according to International Transparency Index which looks at corruption, bribery and phantom companies/individuals as relevant markers on review
clay01 says(): like about half our congress people, I'll leave it up to you to decide what half
da58 says(there was an article that reported the blown up banks had 25 bill dinars.. something like that - well, I'm really wondering if these banks had ANY sizeable amount of dinars or dollars..
First, they were taken over by ISIS when? OVER a year ago.. isn't one of the first things invaders do is to raid the banks? Pretty sure that one happened.. it's a given in war.
Second, we just blew up a bank of ISIS in Mosul a little over a month ago, and another 'secret' storage of cash they had somewhere that our guys found out about thru some secret intelligence... bam, gone.
So - if that happened to you, would you run and stash your cash in another bank - knowing the enemy is flying around in the sky with bombs wanting to destroy your funds?? HMMMMM.....
I sure wouldn't, and I don't think whoever is running ISIS is stupid. My 'GUESS' - is they wanted to destroy the financial connections, of these super computors that had been upgraded or installed in all the banks,, cut them off from the world
rcookie says(): WORLD BANK “Ease of Doing Business” RankingMeasures- Regulatory environment conducive to business operation156th out of 189 Countries!!!!
rcookie says(): MORE THAN $1 Trillion US Dollars Wasted On CorruptionDuring 8 Year Maliki Era!!!
rcookie says(): Former head of the Parliamentary Integrity Commission;Judge Musa Faraj,(wrote series of books titled ”The Story Of Corruption In Iraq”– lists Corruption From Gov’t Departments in following order:1. Ministry of Defense 2. Ministry of Interior 3. Oil4. Electricity & Water 5. Health
da58 says to rcookie(8): wow
rcookie says(): IRAQ annual budget is GREATER than 5 ME Neighbors combined (Jordan, Egypt, Syria, Lebanon, Palestine)NOTE:With 1/3 of Egypts’ Population alone...IRAQ’S Poverty Rate is higher than ALL 5 NEIGHBORS COMBINED!!!
subgirl says to rcookie(): WOW is right! that is a lot of money wasted!
subgirl says to rcookie(): IRAQ annual budget is GREATER than 5 ME Neighbors combined THAT's amazing!!
rcookie says(): AND WERE NOT ABLE TO BE GRADED FOR HERITAGE FOUNDATION "ECONOMIC FREEDOM SCORE"...WHICH RATES ON CRITERIA LIKE..."RULE OF LAW"...GOV'T SIZE"..."REGULATORY EFFICIENCY"...AND "OPEN MARKETS" WHICH I POSTED THE LINK FOR ...AND THE PDF SNAPSHOT FOR IRAQ...
larrykn says(8:54 AM): seem like they are talking alot about rates lately :)
subgirl says to rcookie(8:56 AM): thank you rcookie, we appreciate the links and your research!!! :)
subgirl says to clay(8:57 AM): well hang in there!! we are almost there!!!
Holly1 says to subgirl(): Iraqis Economists 3 hrs · Important ...
Approved the four largest oil-exporting countries in the world during the day Tuesday on a proposal to freeze production to address the supply, which plunge the global market, provided that the rest of the producers involved to enter into force on the deal, especially with the increase of Iran's oil shipments
Holly1 says to subgirl(): It is noteworthy that this proposal came today during the meeting of oil ministers and energy from Saudi Arabia, Russia, Qatar and Venezuela, which was held in Doha on the return of oil prices to stabilize through joint action.
Venezuela's oil minister has said that the talks also take place with Iran and Iraq on Wednesday Is Iraq will respond to this agreement?
Holly1 says to subgirl(): Saud The price of a barrel was $ 100 or $ 20. Both cases does not add to that wealth owners nothing but thefts by traders, politicians and others
Holly1 says to subgirl(): Florence Alsaadoon Is it OK for Iraqi's politicians to send their decisions to their new won private corporations.... Top ok for their themes!! Regards
Holly1 says to subgirl(): Mustafa only I think Ansdr two million at a price of $ 60 is better than what Ansdr three Bsaadr $ 20
Holly1 says to subgirl(): Hussain Alkufi Takulh Bs to properly implement it difficult Aradelh filled Huai great sacrifices
Holly1 says to subgirl(): Slman mustafa Hussain Alkufi Mo Bs difficult impossible the existence of a layer Sraaq and mafias in control of the oil and money
Holly1 says to subgirl(): Akkadian Alsaadoon Iraq inevitably would agree, after he announced (Abadi) for "change", and a private dimension that dissipated the money Besnaathm developed for (new technocrats layer) through the looting of public Almalr create projects and control of the "private sector"
and the cradle of the opportunities now through supply and freeze Alamtaj to to make way for them to exert more influence on government decision-making cycle life of the new age of the longest in the marathon game compatible reforms to benefit the production of the Doha conference, Burktm
Holly1 says to subgirl(): Ibraham Ahmed Henw to benefit if ascended If descended .., I think the rise of oil this time not in the interest of Iraq because he will come out to Vsdh and thieves from room to revive that they entered because of their corruption and what caused its economic crisis affected large segments of low-income, which will be followed by the nature of the case of an explosion topples Bhola thieves to Sfielh .., either improve an economic breakthrough will prolong the life of these more and more, which is held to put over the distance
Holly1 says to subgirl(): Mohammed Assadi Iraq Maostagib because imports cost Mngti
Holly1 says to subgirl(): Abdallah Hussein Iran and Iraq, it is difficult to enter into this agreement
Holly1 says to subgirl(): Yes Abed If Iran agrees to approve Iraq
Josie says(): Iraq Solidarity News: Iraq Approves Plans for Kirkuk Airport
subgirl says to Josie(): am liking that!!! :)
Josie says(): Transformimg air base
templejc says to clay(): Josie - That is music to my ears
Holly1 says to subgirl(): Abeche today Dollar Iraqi Dinar
Comments may be made at the end of Part 3 Thank You Part 2