Millionday Roundtable 3/26/14 Post By Rudie Part 1
[millionday] welcome to dinarupdates.com roundtable everyone
[millionday] brb with news i have something very interesting -- very
[millionday] now this i did not know this was going on
[millionday] Deputy Mission Director United States Agency for International Development (USAID), Mr. Alonzo Wind, with the participation of the Secretary General of the Council of Ministers, Dr. Ali Keywords, at the opening of the Third National Conference on achieving excellence in service and held on March 24 at the Sheraton Hotel in Baghdad.
[millionday] The aim of the conference, which lasts for two days to provide an opportunity to learn about the aspects of joint cooperation between the Government of Iraq and the United States Agency for International Development in the field of achieving "excellence" in governance.
In partnership with the project to strengthen governance Governance Strengthening Project (GSP) of the U.S. Agency for International Development, known as the (progress Taqadum),
has the Iraqi government to make efforts to improve service delivery through the adoption of mechanisms that are being used by government officials in many countries
[millionday] note -- known as progress Taqadum setting up for exports and good gov
[millionday] And these improvements come across the teams involved in the achievement of excellence in government performance assessment of the problems and develop solutions that contribute to the removal of existing obstacles directly.
These mechanisms allow an improvement in self-government bodies on an ongoing basis.
[millionday] note -- i am going to bring the rest -- i find it interesting
[millionday] During his speech on this occasion, the Deputy Mission Director United States Agency for International Development, Mr. Alonzo Wind offering congratulations to the central and local governments on what they have achieved progress in the provision of services, also highlighted the importance of local expertise and sustainability Kaanasran essential for development.
He encouraged Mr. Lindh and government officials to disseminate best practices to achieve excellence in various parts of Iraq, including the benefit of the Iraqi people.
[millionday] this is why i find it very interesting >>> smile
[millionday] The project aims to strengthen the governance of the United States Agency for International Development to support the strategic framework agreement signed between the United States and Iraq, and by helping the Iraqi government to develop capacities in the areas of service delivery and oversight of executive-level local governments
[millionday] so this is actually the meeting to move forward with the rest of the strategic framework agreement always a good thing and now this is over so perfect time wise in my mind
[millionday] brb with more
[millionday] this is read in bloomberg last night - i know we know about this but i like the way they discuss it -- whooopow
[millionday] Iraq bought 36 metric tons of gold this month valued at about $1.56 billion in the largest purchase by a nation in three years. The Central Bank of Iraq acquired the metal to help stabilize the Iraqi dinar against foreign currencies, it said in an e-mailed statement.
The country held about 29.8 tons of bullion as of August, according to data on the International Monetary Fund’s website. The latest addition was the biggest since Mexico bought 78.5 tons in March 2011.
[millionday] While nations purchased about 544 tons in 2012 in the largest accumulation in about five decades, acquisitions slowed to 369 tons last year, according to the London-based World Gold Council. Countries will continue buying amounts in the “hundreds” of tons, the producer-funded council said in February.
Bullion prices rebounded 9.1 percent since December, after slumping the most since 1981 last year as demand for a store of value waned.
[millionday] “Gold is quite attractive to central bankers,” Mark O’Byrne, a director in Dublin at brokerage GoldCore Ltd., which has more than $200 million in bullion under management, said today by phone.
“They see it as an important asset diversification and a safe-haven element within foreign-exchange reserves.” Gold for immediate delivery traded at $1,314.77 an ounce in London, after sliding 28 percent last year. It reached a record $1,921.15 in September 2011.
Prices averaged $1,344.71 so far this month, valuing Iraq’s purchase at about $1.56 billion.
[tourman] Iraq bought more gold to stabilize the Dinar. Against what? Decrease in value?
[millionday] no they are a hard backed currency which all will have to be soon the thing is we are not used to that -- we use air and of course our promise -- smile
[lln65] millionday hot air lol
[peppermint] millionday lol
[dovi] lln65 lln65
[millionday] but they bought it to back the international rates coming out
[lln65] dovi dovi
[clay] lln65 tourman peppermint lol
[millionday] so this is a very good take on it and shows us that it is used by central banks to back international exchange
[millionday] did i say to >>>>>>>>>back international exchange >>>>>>>>>>>>>>
[millionday] did i say to >>>>>>>>>back international exchange >>>>>>>>>>>>>>
[millionday] lol we have to watch action - so they either have a big space they wanted to fill and some money they wanted to get rid of or they plan on international exchange rates needing to be backed logically smile brb with more
[millionday] now lets look at this
[millionday] one thing that the IMF demanded for Iraq since the beginning of this thing was what ?
[millionday] any guesses
[tourman] asset backed currency?
[millionday] yes and stability
[lifestyle4unow] stable gov
[millionday] economic and gov
[tourman] i was gonna say that Gov. Stay out of cbi business
[millionday] wow that was good smile nut got me laughing lol
[millionday] here we go this is great
[millionday] International Monetary Fund announced on Wednesday that Iraq maintained the "economic stability" despite the drop in oil prices during the year 2013, and pointed out that the inflation rate dropped to 3.1%, and as he emphasized that the security situation has caused a deficit in the budget by about 6%, predicted increased activity Economic through the year 2014.
The head of the IMF mission in Iraq Carlo Sdralevij in a statement seen by (range Press), said that "Iraq has maintained its economic stability in 2013 despite low rates of oil production from the targets set,"
noting that "the ratio of the rate of economic growth remained solid at 4.2 percent, thanks to the non-oil sector activity, which contributed at a rate of 7%. "
[millionday] note --- much better than most as well -- Iraq was not effected by the global financial dive however but here comes the rest
[millionday] He Sdralafj "The inflation rate in Iraq fell slightly to 3.1% after it was 3.6% during the year 2012 and this reflects the stability happening in the global prices of food and fuel,"
noting that "the exchange rate has remained stable with a high international reserves increased by seven billion dollars for up to 78 billion dollars at the end of 2013. "
The Chief of Mission of the International Fund in Iraq that "economic activity decree him to grow strongly during the year 2014 with an increase rate of GDP growth GDP of more than 6%, thanks to increased oil production,
which amounted to 3.2 million barrels per day with in conjunction with the attainment oil exports to 2.6 million barrels per day, in spite of the non-oil activities affected by the security situation. "
[millionday] note -- understand one thing let me say - i disagree with some translations or understanding of what they are saying at this point and let me tell you why
[millionday] before we go any further
[millionday] the gradual growth economically ec they bring up is what the IMF is looking for --- it is not how the rate of the dinar is going to come out -- the dinar MUST come out at a reality rate that is calculated and any other assumption just goes against global economics entirely ---- imo of course smile
[ajay214] millionday - kap would disagree lol
[drgolow] No float
[millionday] here comes the rest
[millionday] no now let me say -- i have deep respect for Kap --- and let me also say that it is hard to type our meanings --- no one thinks it will float from 1166 with the removal of the three zeros and the entry to the world but it may float after a rate is set
[txoilman] I agree 100 percent
[millionday] i will never disrespect my fellow researchers but some disagree and that is good or we would be cookie cutter and that is not good smile brb with the rest
Comments may be made at the end of Part 2 Thank You