Millionday News 4/10/15 Part 2
Welcome to dinarupdates.com for News Time with Millionday!!
BGG: Anyone mind of I butt in for a minute?? I will pass along some info I got while out a little bit ago... from a legit translator...
BGG: It may well be that Alak was not talking about "larger notes" in front of the Finance Committee - it is possible (and I leave room for possible) he was saying "larger valued notes"...
BGG: in other words... the 1, 5, 10 and raising the exchange rate in conjunction with this action... - which would effect the "paper" - or note count...
Millionday: NOTE -- LARGER AND LARGER VALUED ARE TWO VERY DIFFERENT MEANINGS -- GREAT NEWS BGG
BGG: going the other direction - in his own words "would not reduce the paper" - or note count...
Millionday: LOVE IT
BGG: So - very good news and falls right in line with the reasoning for them taking the 50 Dinar note out of circulation.
BGG: I can easily see why they did it now... a 50 doesn't conflict with a 500 - that is absurd... but to an Iraqi - the 50 and the 5 are trouble.
BGG: plus - if they are going to wind up "equal to the dollar" - they don't really need a 50. We don't.
BGG: End report.
Millionday: GREAT INFO AND MAKES GREAT SENSE TOO MY FRIEND
Freedomreign: ARE YOU SUGGESTING THE VALUE WILL BE EQUAL TO THE DOLLAR?
BGG: I am not - according to various reports - they have suggested as much.
BGG: I am only tying the piece together...
BGG: "Back to your regularly scheduled News Time"
Millionday: SMILE - THANK YOU MY FRIEND -- GREAT REPORT
Freedomreign: SO IF THE RV COMES IN AT $3.00, THEIR 5 DINAR NOTE WILL BE WORTH $15?
Millionday: ON THE SESSION TIMELINE --- IT DOES NOT SEEM TO BE A FORMAL WITH DISCUSSION SO MAY BE BEFORE BUT WILL KEEP LOOKING FOR YOU
Millionday: FREEDOM -- NO ONE KNOWS THE RATE THE RIGHT NOW -- ALL ELSE IS GUESSING UNTIL IT SHOWS BUT WE ARE ALL HOPING !!!! LOL A LOT
Freedomreign: YES, I UNDERSTAND THERE IS NOT A RATE. JUST LOOKING FOR AN EXAMPLE FROM THE IRAQI POINT OF VIEW.
ROBINREDHED: iraqi's dont need an exchange rate
Millionday: THEY WOULD BE ABLE TO BUY THE SAME THING AS US FOR WHAT THE VALUE COMES OUT TO BE FOR DINAR
Millionday: THEY WILL HAVE A REDENOMINATION
Millionday: LIKE RED SAID
ROBINREDHED: just like we dont need one for usd, unless we are leaving the country'
Millionday: WE JUST NEED TO BE ABLE TO BUY MORE LOL
Millionday: the World Bank revealed that the economic prospects in Iraq are subject to significant risks and challenges, and as predicted the survival of the economy vulnerable to regional conflict,
the Committee on the economy and investment representative confirmed the existence of money laundering and smuggling currency out of Iraq, and there are processes. " mafias "are still engaged in their work so far.
Millionday: NOTE -- THE IRAQI ECONOMY NEEDS TO HURRY UP AND RESOLVE SO THEY ARE AT LESS RISK
Millionday: Special Representative of the Mission of the World Bank in Iraq, Robert Abu quality explained in a statement singled out the "morning" that "security issues were the subject of obstruction of investments and adversely affected economic activities,"
noting that "the continued disruption of transport routes impact negatively in the costs of trade and commodity prices.
Millionday: NOTE -- OBVIOUSLY STATING THAT THE RISK CAUSES ISSUES WITH PRICES AS THEFT ETC DOES HERE
Millionday: He predicted Abu quality to "continue to rise in those commodities versus flow is higher than the displaced and the increase of poverty and unemployment", criticizing the heavy reliance on the oil sector, making the economy more vulnerable to lower prices.
Millionday: NOTE -- HE IS OBVIOUSLY SAYING THIS IS GOING TO IMPACT THE ECONOMY -- SO -- AS THE SONG GOES -- PRESSURE
Millionday: The World Bank's envoy to that. " economic prospects this year are not favorable, the low growth rate of 1 percent, with the continuation of the conflict and the financial crisis,
"pointing out that" the Iraqi economy suffers from structural weaknesses severe in sectors and small industries of non-oil and high unemployment, and lack of effectiveness of the public sector,
which need to be further the ability to cope with conflict, "warning" the government that they need long-term plans to lay the foundations to address the weaknesses in the country's economy.
Millionday: NOTE -- THEY ARE SAYING THAT THEY NEED TO MOVE FORWARD WITH REFORMS -- A WARNING
Millionday: NOTE -- MORE PRESSURE
Millionday: Commission of economy and investment representative, for its part, supported the view of the World Bank, confirmed the existence of money laundering and smuggling of currency outside Iraq operations ,
at the time suggested it to the existence of "mafias" do not persist in such actions so even Alan.oukal Committee member Abdul-Salam al-Maliki, MP for the coalition of state law in a statement singled out the "morning": "The speculation in the market has worked to pay money out of Iraq ",
demanding money laundering department at the Central Bank of Iraq to" the need for the adoption of this matter and the investigation of that money and the Declaration of real numbers on this side.
Millionday: NOTE -- THEY ARE OBVIOUSLY SAYING THAT THEY NEED TO LOOK INTO IT BUT THE BEST AND MOST IMPORTANT IS TO MOVE FORWARD WITH IRAQ`S ECONOMY
Millionday: al-Maliki said that "the Commission is preparing a plan in cooperation with the competent authorities for this topic agencies and follow-up of price volatility and speculation that affect the market and the movement of money,
"noting that" Parliament committed the central bank in Article 50 of the state budget for 2015 Act selling $ 75 million a day just from hard currency, after it reached during one months last year to 3 billion and $ 600 million, while reaching amounts currency dinar Switch to Dollar billion and $ 572 million
Millionday: He noted member of the Economic Committee that "these amounts are very large and exaggerated and can not be handled in accordance with the data the current situation",
calling for "deal according to the mechanisms of thought in order to legalize exchange and investment market, In order to achieve through economic growth according to the framework and the right climate within the country.
Millionday: SO AS WE SEE -- THEY HAVE HUGE PRESSURE TO MOVE FORWARD WITH THE ECONOMIC DEVELOPMENT IN ORDER TO IMPACT THE ECONOMY AND MOVE IT FORWARD TO REACH ALL OF THEIR GOALS ---
THIS IS FROM THE WORLD BANK -- AND ALSO THE MANY ECONOMIC MEETINGS SHOW US THAT IS WHERE THEIR WORK IS FOCUSED --- VERY EXCITING TIMES
Beth: What relation is Abdul-Salam al-Maliki to the bad man Maliki?
Millionday: I AM LOOKING FOR RELATIONS AND CAN ONLY FIND MINISTER OF TRANPORTATION AT ONE TIME -- DIGGING FOR RELATIONS AND KNOW I KNOW BUT CANT FIND IT IN MY MIND ANYWHERE -- LOL
Craveman: Have you seen any of this info? Hanwha Group, 10th largest conglomerate in Iraq, stated that its building affiliate has won a $2.12 billion project for building infrastructure for a new city in Iraq.
Under the agreement with Iraq's National Investment Commission (NIC), Hanwha Engineering & Construction will build the social infrastructure ― including some 300 schools, hospitals, police stations and firehouses ― in Bismayah in southeast Baghdad.
This follows from a previous deal the company made in Iraq in 2012, when Hanwha Engineering won the $8 billion Bismayah New City Project, the biggest urban development project in Iraq.
The Bismayah construction project is expected to be completed in 2019, according the company.In the same statement, the company stated, "Hanwha Engineering has won over $10 billion worth of orders from the Iraqi project alone, taking the lead in rebuilding the war-torn nation.
Millionday: NO I HAVENT BUT THE CONTRACTS COMING OUT OF COURSE ARE VERY EXCITING --- THAT IS HUGE AND CANT WAIT TO SEE HUN
Craveman: Was on an ISX report I get.. Thank you!
Millionday: BETH YOU HAVE ME STUMPED AND I AM STILL SEARCHING
Millionday: THANK YOU CRAVEMAN -- GREAT REPORT
Millionday: I DONT SEE A DIFFERENCE EXPECT THE WHOLE NAME BEING USED BUT WAS AFRAID THEY MAY BE REFERRING TO A SON
Millionday: I WILL FIND THE ANSWER -- I CANT STAND NOT BEING SURE LOL
Millionday: WE WILL SEE YOU ALL TOMORROW NIGHT AT 730 EST
Millionday: DONT MISS NEWS -- THERE IS ALOT GOING ON RIGHT NOW