Millionday Round Table 3/6/2015
Welcome to dinarupdates.com for Roundtable with Millionday!
Millionday says(12:22 PM): HERE WE GO
Millionday says(12:22 PM): A source in the Iraqi Central Bank, on Thursday, the banks will begin the implementation of remittances to their customers starting next Sunday, noting that it came after the completion of all the procedures and mechanisms by banks.
The source said in an interview with Alsumaria News , "The banks will begin the implementation of remittances to their customers starting on Sunday 03/08/2015."
Millionday says(12:23 PM):NOTE -- THE BEGINNING OF THE REMITTANCE WILL BE ON THE 8TH OF MARCH -- THIS IS SUNDAY COMING UP -- SMILE
Millionday says(12:23 PM): The source, who asked not to be named, said: "This came after the completion of all the procedures and mechanisms by banks."
The source of early detection, in the (February 25, 2015), the Central Bank of Iraq began to apply the new system of remittances and sell the currency, as he pointed out that the bank denied stopped selling the dollar.
Millionday says(12:26 PM): SO AS WE SEE HERE -- THE BEGINNNING WAS STEPS THAT NEEDED TO BE TAKEN CARE OF AND NOW THEY ARE ANNOUNCING THAT THEY HAVE COMPLETED THE PROCEDURES AND MECHANISM
Millionday says(12:26 PM): END OF REPORT
Wayne says(12:27 PM): whar is remittance
Wayne says(12:27 PM): Remittances
capisci13 says(12:29 PM): a sum of money sent....
Millionday says(12:29 PM): The process of sending money to remove an obligation. This is most often done through an electronic network, wire transfer or mail. The term also refers to the amount of money being sent to remove the obligation.
Millionday says(12:30 PM): THAT IS THE DEFINING ---- IT IS THE ABILITY TO WIRE BACK AND FORTH WITH A COUNTRY THROUGH MONEY COMPANIES AND BANKS --- WIRING SYSTEM
forestnr4 says(12:31 PM): With the start of the new mechanism regarding the remittance program/system, and sending monies across the borders into other countries, could this mean that it is internationally recognized?
oldtown65 says(12:32 PM): not if they use dollers
Millionday says(12:33 PM): YES IT WOULD HAVE TO BE INTERNATIONALLY RECOGNIZED
Millionday says(12:33 PM): IT HAS TO BE BUDGETED AS FUNDS NOT IN COUNTRY -- ACCOUNTED FOR --
jarhead says(12:34 PM): so have they stopped using the dollar or not
jarhead says(12:34 PM): or rather auctions
Millionday says(12:36 PM): THEY HAVE CHANGED TO THE REMITTANCE SYSTEM
clay says(12:36 PM): MD GA have the auctions started again jarhead just read my mind (lol)
Millionday says(12:37 PM):WE HAD A REPORT LAST NIGHT ABOUT THE AUCTIONS AND WE TALKED ABOUT IT -- I WILL SEE DURING THE NEWS IF I CAN FIND IT AGAIN TO EXPLAIN
oldtown65 says(12:37 PM): $ or dinar for RS
Millionday says(12:38 PM): THE DINAR IS THE NATIONAL CURRENCY IN IRAQ -- I AM NOT SURE WHAT YOU MEAN --- THE DINAR IS THE IRAQI CURRENCY
AMM says(12:39 PM): can u give an example of who the remittances are for? who would receive funds through this?
Millionday says(12:39 PM): I HAVE BROUGHT ONE NEWS REPORT
Millionday says(12:39 PM): ANYOONE THAT WESTERN UNION WOULD SEND TO
MArco says(12:40 PM): what are we expecting on the 8th, what exactly are they doing at the banks then before, what is so special here. Not sure what remittances are for them,
Millionday says(12:42 PM): REMITTANCE CAN BE EXPLAINED THAT INTERNATIONAL BANKS AND MONEY TRANSFER COMPANIES CAN WIRE ACROSSS THE GLOBE BY SUPPLY AND DEMAND
Millionday says(12:43 PM): ON THE 8TH >>>>> Iraqi Central Bank, on Thursday, the banks will begin the implementation of remittances to their customers starting next Sunday,
Millionday says(12:45 PM): HERE WE GO
Millionday says(12:45 PM): Finance Minister Hoshyar Zebari, on Thursday evening, with the head of the National Investment Commission Sami al-Araji, and a number of stakeholders in the body to ensure roads to facilitate and accelerate the implementation of investment projects in Baghdad and other provinces measures.
The meeting, in particular with regard to the legal aspects and the form in which it contributes to accelerate the development process in Iraq and encourage investment.
Millionday says(12:49 PM): SO THEY ARE ACCELERATING THE DEVELOPMENT PROCESS -- AND THIS WOULD BE DONE BY ACTIVATING THE CONTRACTS FOR INFRASTRUCTURE AND ALSO PUT PEOPLE TO WORK OF COURSE----- GREAT NEWS
Millionday says(12:49 PM): END OF REPORT
mcpreacher says(12:50 PM): re: previous report: Is it possible that we are losing something in the translation, and "remittances to their customers" could just mean transactions within Iraq instead of international? (too good to be true!!)
Millionday says(12:51 PM): NO THE SYSTEM INCLUDES BOTH WAYS THROUGOUT THE GLOBE
allinxpress says(12:51 PM): Thank you Millionday for everything you do for us! In Wednesdays RT you brought in an article stating the Dinar was going to be pegged to the SDR 5 currency backing basket.
First, I have not seen any other articles like that have you? Also, was your impression that the reason was a strong and Stable Dinar thus putting to rest the slow float theory?
Millionday says(12:54 PM): IT STATED IMO THAT IT ALSO WOULD BE BACKED BY GOLD AND US DOLLAR AS WELL-- AND NO IT HAS NOTHING TO DO WITH THE CHOICE OF FLOAT OR NO FLOAT -- THAT IS DECIDED BY COST AND ANALYSIS ---- WHATEVER BRINGS MORE REVENUE IS THE CHOICE THAT S MADE
Midell says(12:56 PM): just joined, can the rv be expected on the 8th
Millionday says(12:56 PM): WE DONT KNOW THE DATE HUN OR THE RATE
Midell says(12:57 PM): what can be expected on the 8th then
Millionday says(12:58 PM): THE BEGINNING OF THE REMITTANCE AND WHATEVER STEPS THAT MAY BE -- CBI CAN SET THE VALUE AND THE INTERNATIONAL RATES AT ANYTIME THEY WANT -- THEY HAVE THE GREEN LIGHT
Millionday says(12:59 PM): SMILE
ernier says(12:59 PM): About the same question as Midell - phrased a little different - Isn't doing the remittences the same as revaluing if they are going global and we should expect this Sunday as well? If they do go global without a new rate, we may not see one any time in the near future.
Millionday says(1:01 PM): THEY WILL BE EXCHANGING CURRENCY BY WIRE -- HOW THEY WOULD DO THAT WITHOUT A NEW VALUE AND INTERNATIONAL RATES IS BEYOND ME -- BUT IT WILL BE SEEN ON SUNDAY
CanTWaitwoRV says(1:02 PM): inflation related
CanTWaitwoRV says(1:03 PM): if you already answered that question I can read it later
mrswts says(1:04 PM): After the RV goes on the 8th, is there a special protocol to adhere to? If so, where can I find it?
CanTWaitwoRV says(1:06 PM): "they" as in the cbi
Millionday says(1:09 PM): I AM GOING T BRING SOME NEWS IN AND EXPLAIN HOW THIS CAN IMPACT US AND IRAQ AND ALSO ANYTHING ELSE I FIND --HOLD ONE MOMENT PLEASE
Millionday says(1:15 PM): Description Prime Minister for Economic Affairs Advisor to the appearance of Mohammed Saleh, rising US dollar exchange rate Balbsat, stressing that the central bank's actions are not the cause of it.
Said Mohammed Saleh, in a press statement I followed Agency / Source News /, that "speculators and owners of banking offices behind the rise in the dollar against the Iraqi dinar, Petroejehm news imprecise about the dollar and tampering with the price of the dinar according to their wishes," stressing that "the rise in foreign currency simple price It is impressive, and will end the demise of economic strain. "
Millionday says(1:16 PM): THIS IS WHAT IS HAPPENING .>>> stressing that "the rise in foreign currency simple price It is impressive, and will end the demise of economic strain. "
Millionday says(1:18 PM): SO THE RISE IN THE INTERNATIONAL CURRENCY PRICES ARE ENDING THE DEMISE OF THE ECONOMIC STAIN -- WHOOOPOW
Millionday says(1:18 PM): SEE THIS MAY SEEM AS A SMALL EXPLANANTION BUT IT SAYS IT ALL IMO
Millionday says(1:18 PM): END OF REPORT
clay says(1:19 PM): is that through CBI auctions or have they ended
clay says(1:19 PM): confused if they stopped them or not
Millionday says(1:20 PM): NO THIS IS THROUGH THE WIRING FROM INTERNATIONAL BANKS AND ALSO MONEY EXCHANGE COMPANIES
Millionday says(1:21 PM): THEY HAVE SAID THEY WILL HAVE THEM FROM TIME TO TIME BUT NOT THE SYSTEM THAT IS GOING TO CONTROL THE INFLATION BUT TO GET RID OF THE EXCESS –
IT IS CHANGING TO A REMITTANCE SYSTEM ACTUALLY IT HAS
Millionday says(1:25 PM): THE AUCTIONS WERE USED AS A TOOL BY CBI IN THE TIME OF SANCTIONS –
BANKRUPTCY-- IN ORDER TO CONTROL INFLATION ---- AND THEN TO GET RID OF THE US DOLLAR ETC---
THE REMITTANCE SYSTEM IS THE USE OF INTERNATIONAL BANKS AND THEIR SYSTEM TO WURE FROM INTERNATIONAL ACCOUNTS -- INDEPENDENT AND COOPORATE ETC ---- THAT IS GOOD ---
AND NOT TO BE RUDE BUT ---- WHY DOES EVERYONE CARE SO MUCH IF THEY ARE GOING TO HAVE AN AUCTION FROM TIME TO TIME --?
I FEEL LIKE I CANT MOVE ON AND WE ARE PLANNING A FIELD TRIP OR SOMETHING ---
Millionday says(1:26 PM): TONIGHT --- WE ARE GOING TO HAVE NEWSTIME WITH EXPLANATIONS AND REPORTS --- AT THE VERY END OF THE NEWS -- WE WILL HAVE ???? ----
Millionday says(1:28 PM): BYE ALL HAVE A GREAT DAY AND MORE NEWS OUT ABOUT THIS WEEK AND WHAT IT IS THAT WILL BE HAPPENING ON THE 8TH -- I JUST HAVE NOT HAD TIME TO TELL YOU