[millionday] ok here we go with ink on article 8
[millionday] lets really take a good look
[millionday] Section 1. Introduction In addition to the obligations assumed under other articles of this Agreement, each member undertakes the obligations set out in this Article.
Section 2. Avoidance of restrictions on current payments (a) Subject to the provisions of Article VII,
Section 3(b) and Article XIV, Section 2, no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions. (b) Exchange contracts which involve the currency of any member and which are contrary to the exchange control regulations of that member maintained or imposed consistently with this Agreement shall be unenforceable in the territories of any member.
In addition, members may, by mutual accord, cooperate in measures for the purpose of making the exchange control regulations of either member more effective, provided that such measures and regulations are consistent with this Agreement.
[millionday] note -- Iraq is obviously a member -- so here we go with more on exchange etc
[millionday] Section 3. Avoidance of discriminatory currency practices No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund.
If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply.
[millionday] note -- they have to have every bit of their currency at the same value ---
[millionday] Section 4. Convertibility of foreign-held balances (a) Each member shall buy balances of its currency held by another member if the latter, in requesting the purchase, represents: (i) that the balances to be bought have been recently acquired as a result of current transactions; or (ii) that their conversion is needed for making payments for current transactions.
[millionday] note -- the exchange has to be done of course by internationally calculated conversion -- has to be honest and fair
[Richard Incrocci] Regarding last comment. I wonder if they are addressing that to correlate with KWD and or the resources within Iraq or just how they will determine a rate that is honest and fair?
millionday] Section 5. Furnishing of information (a) The Fund may require members to furnish it with such information as it deems necessary for its activities, including, as the minimum necessary for the effective discharge of the Fund’s duties, national data on the following matters: (i) official holdings at home and abroad of (1) gold, (2) foreign exchange; (ii) holdings at home and abroad by banking and financial agencies, other than official agencies, of (1) gold, (2) foreign exchange; (iii) production of gold; (iv) gold exports and imports according to countries of destination and origin; (v) total exports and imports of merchandise, in terms of local currency values, according to countries of destination and origin;
[millionday] note -- understand these are all calculation figures
[millionday] (vi) international balance of payments, including (1) trade in goods and services, (2) gold transactions, (3) known capital transactions, and (4) other items; (vii) international investment position, i.e., investments within the territories of the member owned abroad and investments abroad owned by persons in its territories so far as it is possible to furnish this information; (viii) national income; (ix) price indices, i.e., indices of commodity prices in wholesale and retail markets and of export and import prices;
[millionday] (x) buying and selling rates for foreign currencies; (xi) exchange controls, i.e., a comprehensive statement of exchange controls in effect at the time of assuming membership in the Fund and details of subsequent changes as they occur; and (xii) where official clearing arrangements exist, details of amounts awaiting clearance in respect of commercial and financial transactions, and of the length of time during which such arrears have been outstanding.
[Richard Incrocci] Wow...the detail of everything involved for the calculation should bode well for us and for them
[karla] My news just put up article titled "Pope calls on governments to redistribute wealth"
[millionday] note --- if anyone here has ever filed bankruptcy --- this sounds familiar -- the legal holdings etc of everything left and the agreements made on what was not taken care of etc -- to move forward
[jtank] they will not fail on currency reform
[millionday] note -- i will bring the last little bit so it is together for those that are reading it later
[millionday] (b) In requesting information the Fund shall take into consideration the varying ability of members to furnish the data requested. Members shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed.
Members undertake, however, to furnish the desired information in as detailed and accurate a manner as is practicable and, so far as possible, to avoid mere estimates. (c) The Fund may arrange to obtain further information by agreement with members.
It shall act as a centre for the collection and exchange of information on monetary and financial problems, thus facilitating the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.
[Richard Incrocci] jtank No, they have too much invested in this
[millionday] karla just one sec hun very interested
[millionday] note --- obviously the statement "to avoid mere estimates" is very important to calculations of such magnitude
[millionday] Section 6. Consultation between members regarding existing international agreements Where under this Agreement a member is authorized in the special or temporary circumstances specified in the Agreement to maintain or establish restrictions on exchange transactions, and there are other engagements between members entered into prior to this Agreement which conflict with the application of such restrictions, the parties to such engagements shall consult with one another with a view to making such mutually acceptable adjustments as may be necessary. The provisions of this Article shall be without prejudice to the operation of Article VII, Section 5.
[millionday] note -- the adjustments on the amount shall be agreed upon between countries as stated here -- of course it would be changed with all else
[millionday] this is the last part and very important part --- reserve assets
[millionday] Section 7. Obligation to collaborate regarding policies on reserve assets Each member undertakes to collaborate with the Fund and with other members in order to ensure that the policies of the member with respect to reserve assets shall be consistent with the objectives of promoting better international surveillance of international liquidity and making the special drawing right the principal reserve asset in the international monetary system.
[millionday] notice this part >>>> making the special drawing right the principal reserve asset in the international monetary system.
[jtank] last sentence means in ur words
[millionday] this is the SDR basket ---- this is the comparison amount that values are calculated with so that it is comparable in all that we just read
[millionday] fair trade
[millionday] let me show you one more thing then we will chat
[millionday] i have their figures
[millionday] US dollar USD 1166.000 1164.000
Euro EUR 1623.888 1623.076
British pound GBP 1978.119 1977.130
Canadian dollar CAD 1070.117 1069.582
Swiss franc CHF 1333.486 1332.819
Swedish krona SEK 179.291 179.201
Norwegian krone NOK 197.470 197.371
Danish krone DKK 217.562 217.453
Japanese yen JPY 11.476 11.471
Special Drawing Rights SDR 1815.112 1814.205
[millionday] that is from CBI figures -- now their debts etc --- >>>> http://www.imf.org/exter ··· ;>>; look at this later
[millionday] ok karla what was it that you were sharing sweety ?
[karla] http://www.abc3340.com/s ··· e-wealth
[millionday] let me look at it and i will bring it in for us
[millionday] thank you -- smile
[millionday] here we go
[millionday] this was today
[millionday] Pope Francis says it's time for governments to redistribute wealth to the poor. He made the comment during a speech to U.N. Secretary-General Ban Ki-moon and the heads of major U.N. agencies meeting in Rome. The pontiff calls for a new spirit of generosity needed to "curb the economy of exclusion."
[millionday] Pope Francis made a similar demand earlier this year when he addressed the World Economic Forum. At the time, he denounced the trickle down economic theories and being unproven.
He said he sees too many injustices in capitalism, which, in his view excludes so much of humanity. Some in the United States immediately labeled the pontiff a Marxist pushing the theories of communism.
That is something he has denied. Today, however, he urged the United Nations to come up with development goals to attack the root causes of poverty and hunger, protect the environment, and ensure dignified labor for all.
[Pablo] Okay, so all the banksters and oligarks can give their money to the middle class.
[NRICHARDS] Redistribution of wealth is..Socialism at it's core!! Government controls the people. Your freedom is gone.
[joekid] I nominate Maliki to institute Pope Francis' plan of wealth redistribution.
[millionday] let me address this --- i understand as do many of us how we feel when we see a multi-billionaire standing beside a starving child asking for many to send the change from a cup of coffee and we have all seen the many faces across our window to the world -- television-and the media –
there is a way to help and there is a way to change -- so many theories have been put out and so many ideas from many economists and humanitarians
[millionday] if we havent ever spent time in our lives trying to think of a way to make it all fair and solve the sad reality of people on this earth dying from hunger in one corner and fat and over weight in the other -- we would not be human
[millionday] i pray that one day someone will have the power to make a difference on the entire globe and really would have no problem listing names that are in the position right now
[coolspot] millionday Fat and overweight has nothing to do with wealth, just a lack of wisdom
[jtank] depends on where u were born--
[millionday] to take from the rich and give to the poor is not a new idea - it goes back to the robin hood story -- but the will of the people is what has to be addressed
[millionday] i say this
millionday] choices we make in life to help and choices we make in life as to how much money is enough -- are important -- it effects many ---- i believe God gave us free will and that many take take take and claim to give – and i have said this from the beginning of this ride ---- here goes
[millionday] most spend their whole lives chasing the dollar ---- so after you catch it --- that shows who you really are --- then what? --- who are you without your profession or your title ? --- what can be done ? -- the answer is in us all and the will of the people
[millionday] the ideas that we all have comes from the great character you possess and the care you have for those that suffer
[millionday] if everyone does something -- then who needs a meeting or a government to tell us what should be done ?
slh5282] Has the budget for this yr been voted on for the second time?
[Richard Incrocci] Just got this from Joel Osteen in my daily scripture: “See that none of you repays another with evil for evil, but always aim to show kindness and seek to do good to one another and to everybody.” (1 Thessalonians 5:15. AMP)
[millionday] the budget is ready to be voted on and they have decided to vote on it sunday with or without the kurds
[slh5282] OK TYVM
[millionday] thank you hun -- perfect !!
[letsroll] awesome outlook millionday .. i understand what your saying and meaning but we also live in a broken world even Christ said we will always have the poor with us Jn.12:8, God speed to us all... welp back to work...
[coolspot] The issue is Spiritual, and in our Belief System.
[quicktolegit96] millionday are they actually gonna do it is the question
[jtank] should be a preacher Md
[millionday] i have to say that it is overwhelming when you try to solve world hunger -- but not when you try to help any that come before you
[Richard Incrocci] TODAY’S WORD from Joel and Victoria In Galatians chapter five, the Bible talks about nine fruits of the Spirit. These fruits are spiritual qualities that manifest in our lives when we allow Him to work in us.
The more we invite God to move in our hearts and follow His Word, the more those characteristics will manifest in us. Kindness and goodness are two of those fruit of the Spirit. The Bible tells us that His Kindness leads people to repentance. In other words, kindness advances the Kingdom of God.
The more kindness and goodness we show other people, the more we are acting like God. The Bible also tells us that what we sow, we shall reap. When we seek to do good to others, we will reap goodness in our own lives in return.
Today, look for ways to show kindness and goodness to the people around you even when they aren’t kind to you. Don’t repay evil for evil. Take the high road. Bless those who wrongfully use you. Seek to do good, show kindness, and you will see it come back as a blessing
[Red Skyy] Hope u are right about Sunday, but thr
[millionday] jtank preacher`s daughter
[Richard Incrocci] Seek to do good, show kindness, and you will see it come back as a blessing in your own life in return!
[quicktolegit96] #all words, no actions
[millionday] now let me say this
[Red Skyy] They never meet on Sunday, always postponed
[jtank] Aha--rt on girl--
[Danalivin4HIM] millionday Your Daddy did well with you ♥
[Richard Incrocci] WOO HOO Budget Vote scheduled. Bust out of the HAPPY DANCE moves!
[millionday] a healthy economy -- the way the world economics is set up only works if there is a working class -- high class -- and poor class -- i too hate the words -- but it is fact ---- the problem comes when any are not at the % it needs to be to produce a healthy economy --
[sheila3] Richard Incrocci amen
[Richard Incrocci] Red Skyy Leave some room for them to actually surprise us
[Red Skyy] I would be very happy
[millionday] the problem the globe is suffering is that most do not have a healthy economy due to the recession -- the global imbalance is direct proof of that ----
[millionday] the plan for a global impact is and has to be a very large one --- in order to make a difference
[millionday] we have seen that the changes coming from the middle east is expected to make a global impact -- lets hope that that is exactly what it does
[Richard Incrocci] millionday If our illustrious leaders would quit negating the needs of the people here by investing the billions they send to other countries, in addition to bringing all the jobs back that they allowed to leave through various incentives, it would go a LOOOOONG way in helping here!
[graylnjo] They may be holding out on the budget till M is actually gone
[quicktolegit96] graylnjo kurds have been doing that all along
[coolspot] Richard Incrocci Good stuff friend
[NRICHARDS] I vote for Milly as President.
[Richard Incrocci] graylnjo If correct, then the additional week or two would be beneficial to all for the wait
[Richard Incrocci] coolspot Thx
[millionday] i can understand what you mean but -- we have to know that global trade and investment is going no where --- it is and will remain our way of life economically -- the thing is this imo ---- it has to be fair --- the pay and the cost of living -- i have a real problem with the advantage taken of some that are so very needy
[millionday] Karla ---- thanks for bringing that -- kind of amazing to think about the POPE in front of the UN with such a request
[graylnjo] Richard Incrocci I agree!!:}
[millionday] i would have loved to have been a fly on that wall
[karla] millionday YW
[jtank] anything on that link sent to u Md --Hcl and smart cards?
[Richard Incrocci] millionday Karla...obviously a grass roots movement is needed. Get out of ones own way and do what you can. Just like the 'kindness' commercials you see. People notice what is being done. Grace breeds grace and contempt breeds contempt
[karla] millionday I am so ready, it makes my heart burn...
[millionday] sorry got kicked -- smile
[millionday] Richard Incrocci i agree hun
[millionday] i did get something on the smart cards
[jtank] I have a Preacher friend that needs a church in LA
[millionday] i will find it for tonight -- they are talking about the international loading in the report but my windows crashed -- so i will find it again