Post From Dinar Updates 2-16-16
Chat Room Excerpts & Highlights
Dinar Updates Monday Chat 2-16-16 Part 2 of 3
Pablo says(): Any new news today on Alalq?
Holly1 says to subgirl(): in terms of annual income per capita (US $ 3,262 by thinner Or the World Bank). India's external reserves of cash of approximately $ 143 billion.
The city of Mumbai, the financial center of the country, and there are the headquarters of the Central Bank of India, the capital market (SEC). While living more than a quarter of Indians below the poverty line, it features a new middle class began to show to the horizon, especially with the development of the information industry.
Holly1 says to subgirl(): Agriculture was a year ago, the engine of the economy, the President, and I knew with the economic independence of India, today announced the contribution of this sector fell to 25% of GDP. Other important sectors: mining, oil, diamond polishing, Film, IT services, textiles, handicrafts.
Snaih more concentrated areas around major cities. In recent years, India has emerged as the most important global trader in the areas of software and handle administrative work, and the volume of the incomes of these services $ 17.2 billion (2004-2005). Numerical presence of small-sized
Holly1 says to subgirl(): companies that provide a permanent work positions for many of the citizens in small towns and villages. Although the number is not more than three million foreign tourists a year, tourism revenues constitute a part of an important sector of the national income (about 5.3% of GDP). Among the most important trading partners of India: the United States, Japan, China, the United Arab Emirates.
Holly1 says to subgirl(): The most important of India's exports, agricultural products, textiles, gems and jewelery, software services and technologies, chemical and leather products, with the most important goods dominated: crude oil, machinery, precious stones, fertilizers, chemicals. India's export volume reached in 2004, about $ 69.18 billion, while imports amounted to $ 89.33 billion.
BGG says(): OK - how can anyone in this communtiy go along with the CRAZY assertion that there were NO WMD's in Iraq?? What I can't figure is - if we can read this for ourselves - why isn't it a MUCH BIGGER story in the mainstream media??
BGG says(): We went after Saddam over his illegal gas making operations - we didn't find any...
MadDScout says(): Doesn't fit the narrative?
clay says to BGG(): they sent them across the borders
BGG says(): remnants... pieces... clues... but no factory..
magnetlady says(): BGG they waited just long enough for them to move them
BGG says(): until about a year ago when ISIS was really getting going - their Sunni leadership took them RIGHT TO THE "X" on the map (North of Baghdad) and they dug them all up - somewhat degraded with age... because they were buried way back. HOWEVER, THEY WERE THERE!!
MadDScout says to BGG(): I agree
BGG says(): and even concerns on the news TODAY about ISIS pursuing these weapons and use of them as a strategy.
templejc says(): BGG - ITS AN ELECTION YEAR - IMO THAT IS WHY THE EMPTY SUITS ARE NOT SPEAKING OF THIS
MadDScout says(): they have been proven to have chem agents
MadDScout says(): IS
MadDScout says(): they stopped a shipment of eggs headed to the lab yesterday
templejc says(): BGG - GIVE TRUMP A CALL - FILL HIM IN ON THE TRUTH
MadDScout says(): truck load
BGG says(): These Sunni leaders (now in ISIS) were some of the same ones who helped Saddam bury the evidence.
BGG says(): "were" working with ISIS - former Baathists (now likely dead)... co-oping with ISIS as a mutually beneficial arrangement.
BGG says(): to make a long story short...
BGG says(): THERE WERE WMD's - and Trump needs to get his FACTS STRAIGHT. ISIS just dug these WMD's up recently... Fox News reported it a few months ago...
BGG says(): what I can't figure is why it didn't BLOW THE INTERNET and media UP??
jarhead says(): we need a full govt change
templejc says(): THE ARGUEMENT THAT THEY WERE NOT WMD - IS JUST AN EASY WAY TO BRING UP NEGATIVE EMOTIONS OF THE PAST - THE ASSOCIATION KILLS THE OPPORTUNITY –
I WOULD ALSO ASSUME THAT TRUMP KNOWS ABOUT THE DINAR. YEARS AGO THERE WERE STORIES OUT THERE ABOUT WEATHER OR NOT HE HAD DINAR - WHO KNOWS. IMO TRUMP IS JUST A LOOSED CANON - MONTHS AGO I LIKED HIM - TODAY I HAVE NO RESPECT
templejc says(): WE ARE IN A HUGE MESS
clay says to templejc(): big time
clay says to templejc(): my question...why no autopsyon scalia
clay says to templejc(): id he was sick he wouldnt be going hunting
clay says to templejc(): JMO
Holly1 says to subgirl(): 02/16/2016 10:13 Central: Financial unprepared for the exercise of its currency auction
BAGHDAD / obelisk: The Central Bank of Iraq, on Tuesday, he was responsible for conducting the auction currency, between the Ministry of Finance is ready to exercise that role.
The governor of the bank on the Keywords in an interview with local media, and I followed, "obelisk", "The central bank is responsible for holding the currency auction 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 auction process but practically not possible. "
templejc says(): SINCE I AM A PERSON OF FAITH - MY PERSPECTIVE REGARDING THE SUPREME COURT IS THIS - PERHAPS GOD IS GIVING WHAT AMERICA WHATS - A GODLESS SOCIETY THAT WANTS NOTHING WITH BIBLICAL VALUES.
MadDScout says(): The government unites the framework of initiatives and committees that run the economic and administrative reform
clay says to MadDScout(): thanks :)
jarhead says to MadDScout(): do u ever sleep lol
Josie says to MadDScout(): " unite their efforts, to be in the form of a clearly defined and achievable steps for implementation within specific timelines" nice !
rcookie says(): WE WERE TALKING ABOUT CITIZEN CONFIDENCE OR LACK THEREOF IN IRAQI BANKS EARLIER THIS MORNING....THE FOLLOWING WERE STATEMENTS FROM 2005 UPDATE....
members of the Iraq Reconstruction and Management Office-Financial and Fiscal Affairs (IRMO-FFA) in coordination and cooperation with members of the: Iraqi Private Bankers Association; U.S. Treasury Department, and; Federal Reserve Bank of New York.
rcookie says(): I. General CommentsIraq has a cash driven society where banks are seldom viewed as places to store consumer wealth and communications between branches of even the same bank are often difficult to conduct and rely mostly on face-to-face meetings to update account balances rather than the use of automated networks.
The flow of funds in Iraq’s economy in general is more often than not, one of funds flowing out from banks with very little recirculation as is experienced in other societies. Why does this happen? It’s a result of “learned behavior” including consumer experiences dating back to the end of the first Iran-Iraq war.
During this timeframe, the former dictator found the country nearly broke and faced with making millions in stipend payments to returning soldiers. To generate cash, he instructed all banks to stop making payments other than those needed to pay government workers. Most who stored their wealth in the banking system lost everything. Accordingly, the current distrust
rcookie says(): in the banking system will take time and consumer education to overcome.
rcookie says(): Realize however, that the future of Iraq’s National financial system is anything but bleak. Foreign banking interests are starting to make efforts to position themselves in Iraq which will bring more of the modern, world-class banking capabilities to consumers of financial services.
Also, on November 29, 2004 President Bush signed Executive Order (EO) 13364 protecting the assets of the Central Bank of Iraq (CBI). Now, for the first time since the inception of the sanction period, CBI will be able to invest their own assets abroad via their account at the Federal Reserve in New York.
Previous to the signing of this EO, CBI funds were subject to seizure by the creditor nations (such as Russia, France and Germany). The EO itself is an important milestone in basic economic recovery and can be viewed at:
rcookie says(): http://a257.g.akamaitech.net/7/257/2...po.gov/2004/pd f/04-26686.pdf
These revolutionary changes require all parties to have a thorough understanding of the financial system on the ground in Iraq. This paper will address payment types and considerations, share the latest information we have available on Electronic Funds Transfer and provide some bank contact information for use.
rcookie says(): THIS WAS FROM 2005.................
rcookie says(): B. LocalExchangeConsiderationsExcept for some areas in Irbil where USD is used as petty cash funds in government offices and perhaps small pockets of areas elsewhere, payments made in USD cannot be readily spent within local economies, but must be exchanged for New Iraqi Dinar (NID).
The local economy does include those in the business of exchanging money who operate apart from and in competition with the banking system. When exchanges are made, brand new $100 bills come closest to trading at the official exchange rate and denominations less than this bring far less with hardly any trading being available for $5 and $1 bills.
It’s been reported that even Central Bank of Iraq (“CBI” is the equivalent of the U.S. Federal Reserve Bank) will not accept exchanges for denominations of $20 bills and less.
When possible, payments should be made in the local currency to avoid the need for exchange at the lowest payee levels. CBI is currently willing to make currency exchanges for a charge of 1%.
rcookie says(): The bid and offer auction rates are posted to the web by CBI and can be accessed using this link: http://www.cbiraq.org/cbs6.htm
Your home bank can communicate with CBI using the Bank Identification Code (BIC) “CBIRIQBAXXX”. This BIC code is tied to the SWIFT network. According to Iraq’s Private Banking Association, Dollar to Dinar exchanges can often be accomplished for half the CBI rate or 1⁄2%.
rcookie says(): THIS DOCUMENT HAS BANK ACCOUNT ESTABLISHMENT PROCEDURES...CHECK CASING CONSIDERTIONS...AS WELL AS WIRE TRANSFER DIRECTIVES FROM INDIVIDUAL BANKS IN IRAQ..INCLUDING BIC & SWIFT CODES....
rcookie says(): http://www.trade.gov/static/iraq_paymentsessay.pdf
rcookie says(): HERE IS THE SECTION ON EFT (ELECTRONIC FUNDS TRANSFER)
rcookie says(): V. Payments by Electronic Funds Transfer (EFT)EFT in simplest terms is an electronic payment instruction; it does not automatically create a physical presence of cash although some appear to be under the mistaken impression that it does.
In the U.S., these payment instructions usually trigger cash available for withdrawal almost immediately because banks keep cash reserves on-hand locally to support personal and commercial transactions. Not always so in Iraq.
What may take minutes in the U.S. may take a couple of days here, so be sure you keep your local banker informed of your needs so that they can forecast their cash requirements and better serve you.
Currently, there are a number of private banks that can support EFT type transactions through cross-border correspondent banks. The rates they charge for providing these services vary from bank to bank, and depending on the transfer amount, the rates may be negotiable. While the focus is on EFT into Iraq, the institutions discussed be
rcookie says(): below can also work with you to wire funds out of Iraq including CBI itself.
Holly1 says(): Trade Fair opening of Karbala amid calls to abolish impeding investment and the application of the tariff laws Today, 09:57
Holly1 says(): Student businessmen Krblaiaon, amend and repeal laws and government instructions that continue to impede the revitalization of investment and national industry, while the Government of Karbala drew to its seriousness activating the private sector and benefit from agricultural and industrial to the central government initiatives, acknowledged the existence of laws and regulations and ministerial obstructive not suitable for the current period.
Holly1 says(): This came on the sidelines of a comprehensive trade show which was held at the hall Hakim center of Karbala's city center, which was built by the local government of Karbala and organization of work groups and international exhibitions.
The Business Group and International Exhibitions Director, take Ali Abdul,), said that "Karbala trade fair featuring more than 35 Arab and foreign and local companies in various disciplines and lasts for four days, noting that" the most prominent participating companies are from America, Britain, China, Germany, Japan and India Thailand, Jordan and Kuwait. "
Holly1 says(): He explained Abdul, "This exhibition was held in the city of Karbala as an attractive investment and a fertile environment for him, a chance to meet with business and corporate men who want to work in the province and support the development of local industries."
For his part, President of the Union of Entrepreneurs, Mustafa Al Tohme,), said that "all the efforts of the central and provincial governments poured toward the revitalization and development of local industries, but there are still laws and instructions of the government hinder this area and must find solutions to them."
Al Tohme and that "the most prominent obstacles to revitalize the domestic industry is the lack of application of the customs tariff law which protects the national production, and the lack of bank loans for projects that must keep pace with development."
Holly1 says(): He said the Tohme, that brought the voice of the private sector and its obstacles to the central government in many meetings and conferences, but did not respond to the demands of each and invitations, because there are laws requiring amendment or new legislation from the House of Representatives. "
For his part, the governor of Karbala, Akil Turaihi,), said that "Karbala fertile ground for investment projects in various fields and industries and we are serious about working to attract companies and businessmen to maintain and develop the local economy."
Holly1 says(): Turaihi He added, "There are a number of residential and industrial investment and other projects established in the province in recent years and provided all the requirements, and we are serious about working to provide the requirements of companies and businessmen and investors who want to create other projects in the province."
Among Turaihi, that "there are certain laws and regulations in force, continue to impede investment and industrial development process and we Nchksa but the solutions are not within our capabilities, the recent amendment to the investment law ended some of its obstacles."
Holly1 says(): In turn, the head of the Karbala Provincial Council, Nassif rhetorical,), said that "the Government of Karbala intent on activating the private sector and benefit from it in the reconstruction and services traffic development, as well as take advantage of the agricultural initiative of the central government in the development of the agricultural sector," noting that "we are seeking to coordinate with the government Central industrial Bank to develop a new roadmap for the industry in Karbala and activate the existing industries. "
rcookie says to Holly1(): STILL WHINING ABOUT TARIFFS...
rcookie says to Holly1(): AND THEY MENTION AGAIN THE FAILURE OF OUTFLOW OF BANK LOANS & FUNDS FOR PRIVATE SECTOR PROJECTS...
AND NEED FOR FURTHER INVESTMENT LAW AMENDING...AND CALLS FOR ACTIVATING "SINGLE WINDOW" IN INVESTMENT AUTHORITY....
rcookie says to Holly1(): 31 INVESTMENT PROJECTS IN KARBALA AS OF FEB 6TH....AND15 OTHERS DELAYED DUE TO ISSUANCE OF LAND ALLOCATIONS AND LEGAL FRAMEWORK FOR CERTAIN PROJECTS....
rcookie says to Holly1(11:37 AM): GREAT STUFF HOLLY!(y)
rcookie says to Holly1(): THEY ARE BARKING UP WRONG TREE WITH RARIFFS....EVEN NAJIB ON BOARD WITH APPLICATION AND IMPORTANCE...
rcookie says to Holly1(): Najib: procedures for activation of customs and tax raises revenue
February 16, 2016 Member of the Committee emphasized the economy, investment, Najib najiba parliamentary actions taken by the Government recently in making good tariff and would bring financial returns.
Najib said in a press statement obtained by the news agency that '' our economy is the sharp decline in oil prices caused by low State revenues due to the adoption of State oil, explaining that "it is necessary to go to the non-oil sectors, but not to the desired level at the moment.
She said that non-oil revenues in 2013 and 2014 accounted for 5 percent to 7 percent of imports, indicating that he planned in 2016 budget that non-oil revenues 14 trillion Iraqi dinars through tax and customs fees, and a Committee was formed by the Council of Ministers to activate them.
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rcookie says to Holly1(): She noted that the tariffs applied on all ports were developed to access areas points and collect the customs tariff that have not met in the port, stating that "these points put in Kirkuk and Khanaqin in Diyala juvenile justice».
It held that State a new» to revisit tax and activate the drawing lots of things that were neglected after that better measures are activated and fee municipal, health and other services make us get new imports.
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