Millionday Roundtable 4/28/14 Part 2
Welcome To Monday Roundtable with Millionday!
[ajay214] But we've been told many, many times that the budget is not an RV related issue. One has nothing to do with the other. Is this the case?
[millionday] smile -- the value of what the budget will purchase -- is important to Iraq -- not us
[millionday] CBI is an independent and Iraq wants to be able to start their own projects so they want the budget in place at this time so they can get as much from the move to a market economy as possible
[millionday] the private sector has no idea what to pay for anything until the actual value of the piece of paper is set (DINAR)
[millionday] how would you do your business budget or home if you did not know how much the dollar would pay for ---- IMPOSSIBLE brb with more
[millionday] Announced in Baghdad today announced the closure of the entrances and exits of the capital, starting from Tuesday evening next, in conjunction with a comprehensive ban on vehicle traffic and take misgivings security with the participation of aviation on the borders of the western regions of the country bordering the Central Euphrates provinces ..
As the president of the Kurdistan region to broad participation in the elections to the face what he called opponents of Kurdish rights within the political process. Baghdad Operations Command announced Sunday it decided to shut down the entrances and exits of the Iraqi capital and a ban on roaming vehicles starting next Tuesday evening in preparation for the upcoming parliamentary elections to be held next Wednesday.
[millionday] note -- the borders of Baghdad closed as of Tuesday night and many other borders --- we know the election is wed
[millionday] A spokesman for the Baghdad Operations Brigadier General Saad Maan said in a statement that the entrances to the city of Baghdad and exits will be closed starting at ten in the evening of Tuesday, 10 hours before the start of parliamentary elections across the country the next morning.
The action comes a day after the announcement of the General Secretariat of the Council of Ministers yesterday disable official working in all provinces a full week starting on Sunday.
The Cabinet decided to disable Iraqi official working in the provinces for a week except formations that decides Minister and the Conservatives continue to work out of necessity, and at the request of the Electoral Commission.
[millionday] ok so we know all this --- but the closing of borders -- is obviously for security
[Smokey Mtn. Dinar] Am I misreading this, or is it saying that the Kurdish borders are going to be closed, as in, they aren't going to let the Kurds vote?
millionday] no -- this is all for security to be able to do the best job for safety
[Smokey Mtn. Dinar] OK, just wondering, since there has been so much trouble between the Kurdish Bloc, and Baghdad
[millionday] oh i bet if they vote in the budget without them -- that will get larger -- smile
[Smokey Mtn. Dinar] true
[millionday] not that i am a betting person but wow that is extreme - i read they have moved it up to the 3rd of May -- we shall see
[millionday] let me find some more on how this is going over -- smile -- brb
[Smokey Mtn. Dinar] But they can RV without it
[coolspot] Ajay the point about interest is that it is not Biblical for a Christian to charge another Christian, Brother or Sister interest. Many scriptures on this. Deut. 23:19-20 “You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. You may charge a foreigner interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it.
[hstrymknwmn] Vote we'd for parliament, meet read and vote on budget Saturday RV Monday
[millionday] here we go
[millionday] coolspot that is a great point ---- it actually was a very hard cultural and religious issue that was hard for them to resolve and deal with --- the economic issue of banking is to make money so they had a very hard time with that issue
[millionday] financial expert suggested the name Hadi, cash handling financial converting to electronic cash to improve the payments system in the country.
Said Hadi "It has to be working on the development of the Iraqi banking system with the latest technologies to allow him to enter the modern electronic systems for financial transactions,
cash handling and transfer cash to the financial-mail, just like most of the countries of the world."
[millionday] note -- this is all about going global
[millionday] He said: "The process of cash transfer will improve the payments system in the country and facilitate financial transactions, especially after the advent of e-commerce and spread widely among most countries, especially that Iraq has business dealings with big countries in the region and the countries of East Asia", calling for "the need for legislation Rules governing the work in ways that payment.
[millionday] note ---- the exchange has to be on the international system of monetary conversion calculations --- as in the SDR (basket of currencies)
millionday] fair trade ---- has to exist for all to make it ---- Iraq will go broke without a reality rate because the system is the only way global trade makes sense
[millionday] now this does not mean that their price index will not be higher -- as we see in some countries -- potatoes are ten bucks for a couple -- the logistics effect for shipping etc on imports -- in other words prices reflect gas needed etc
[millionday] and here is a very important announcement -- introduction
[millionday] He stressed the importance of the introduction of "national divider" which was adopted by the central bank, which includes linking local banks unified communications network managed by a specialized international company and under the direct supervision by the central bank, to support electronic financial transactions.
[millionday] huge smile
[millionday] the exchange of the dinar is what they are discussing ---- and that is what we are doing here --- waiting on the exchange of the dinar
[clay] millionday AMEN
[millionday] it will be done at a reality rate that can be held by the globe as fair trade and fair comparison to the rest of the values within the globe smile brb with more
[millionday] oh and i forgot -- WHOOOOPOW WHOOOPOW WHOOOPOW
[mydinar100] millionday In re to coolspots obervation about interest to Christians. Wasn't the old law disbanded with the death on the cross and the new covenent? Isn't interest on any agreement or debt covered under "treat your neighbor as yourself?
[faith1] millionday remember through the years when closing of borders has been announced and we all thought,,,, this is it !! well this time there is reason,, security and voting,,, also announced that budget is ready to be enacted after the vote...banks are ready,,,
the country is yelling to move into the world stage and rebuild, jobs,,, ready to enter the world stage with ISX, i believe it's like a car.... sitting idling, ready to go ,,, just revving the gas ,, testing all points...
now they have announced all is ready, vote will refuel and they will put it in gear, taking off ,,, not looking back.......zoom,,,, here comes Iraq !
[millionday] the smart cards to citizens abroad and the ability to use them in the atms across the world is what we are seeing here ---- so dont be confused ---- this is huge
[jtank] that takes a reality rate?
[millionday] mydinar100 this is part of their belief system and has always been --- you dont help someone for a fee ---- they had a very hard time with it and the interest was the issue ---
[millionday] faith1 right ---- it is to the point of no return --- they are entering the global system -- it works the same for all countries and so does the calculation -- so now they are checking the seatbelts -- smile
[millionday] except china -- whom for some reason think that they can be a little off --- they have been demanded multiple times to change it but that is a whole different subject --- however -- they are not any where near at an imposed rate that is of no reflection of their true value
[millionday] it would be as if you were shopping with shoe strings and everyone else has cash
[dovi] Iraq can have a rate like China's and we can still do well but they have stated to put their currency ahead of all currencies
[millionday] they get what they want because the world operates on supply and demand ------- that is what a free market economy is -- it is a global regulated system ---- international compliance is demanded and has to be
[clay] millionday IYO is there anything else we need
[millionday] yes -- we need a rate smile - now please
[millionday] actually the key is what do they need? they need a rate for the electronic banking they are activating -- cant be without a reality rate
[clay] millionday but is that all u think
[millionday] make sense ? ---
[millionday] i see nothing in the way but the time it is until they release the rate --- are they waiting on the budget because they have finally stated they are putting it through period ?-- could be --- are they waiting on the elections ? could be but makes no sense -- but this is Iraq -- and of course the political issues have come in to play where they do not belong
[millionday] no one has the date and if they tell you they do --- hmmmm
[lstar877] Millionday ok iF budget goes thru the third its gotta be published in gazette first, is that correct?
[millionday] i know with what they are doing right now -- e-commerce and electronic banking --- it can not be done without a reality rate --- can not
[millionday] lstar877 yes it will be published
[faith1] millionday are they doing it now OR announcing it is ready now??!!!!
[letsroll] I'm still liking April 28-30
[lstar877] Md does publishing take a couple days?
[millionday] e-commerce and electronic banking is GLOBAL ----- due to the computer
[heartland] Every thing you have been telling us certainly does away with any idea of a float IMO
[millionday] and mastercard and swift and visa and atms and and and
[jtank] all positive!!
[millionday] lstar877 maybe to show but not to check off the list
[millionday] very positive --- i am very encouraged because we have not seen ink on action that is taking place after the fact until now
[millionday] thank you rudie and all that took part -- all of the help of the mods and ghost -- smile ----
[lstar877] Ok tyvm can we see a rate before its published?
[millionday] see everyone at 730 est tonight for newstime at dinarupdates.com
[millionday] please check out the forums and observer and forum for more info ---- see everyone tonight