Millionday Roundtable 6/1/15 Part 1 of 2
Welcome to dinarupdates.com for Roundtable with Millionday!!
Millionday: I SAW THIS LARGE REPORT BUT MOST OF IT IS THIS>>>Head of the Islamic Supreme Council of Iraq Ammar al-Hakim stressed the need to take the United States role in influencing and urged other countries in the world to work hard to dry up the sources of terrorism Daash
and provide more support to the Iraqi government in its war against al Daash.--THIS ABOUT CLEARNG OUT DAASH AND ITS IMPORTANCE
Millionday: LONG REPORT BUT WE GET HE POINT
TimandJulie: I have never in the history of this seen more news in one day come out about the currency as did today, your thoughts and the one big article was...
Who determines the deletion of zeros from the Iraqi currency? He revealed Governor of the Central Bank of Iraq on the Keywords, in March 2015,
giving the green light to direct the implementation of file deletion of zeros from the currency, and as he emphasized that the completion of administrative matters of this file will take two years, pointed out that "the bank began creating new currency models.
Millionday: THE PROCESS OF ALL THE CURRENCY IN ANY CHANGE OVER TAKES CLOSE TO THAT TIME LINE
-THIS IS NOT NEW -- THE LAST COUPLE OF MONTHS HAVE BEEN ABOUT THE CHANGE OF IRAQ`S MARKET AND CURRENCY--- A LOT IS GOING ON -- NOT SURPRISED
jarhead: so 2 yrs is not rv upon completion? in other words at the end (rv)
Millionday: IT WOULD BE HOW LONG IT TAKES FOR ALL BILLS TO BE BROUGHT IN --ESTIMATES
Millionday: NOTE -- THIS IS ABOUT THE BANK DEVELOPMENT OF IRAQ
Millionday: Iraqi bank says he coordinated with the International Monetary Fund for the development of the banking business in the country
Rafidain Bank announced, on Saturday, the existence of an ongoing bilateral cooperation with the International Monetary Fund in the context of providing advice regarding the development of the work of banks in the country.
Millionday: NOTE -- THE IMF IS WORKING TO HELP IRAQ SET UP THE COUNTRY AND THEIR BANKING INDUSTRY
Millionday: NOTE -- THE COOPERATION IS VERY HELPFUL FOR IRAQ WITH ALL THE NEW TECHNOLOGY THEY ARE TRY TO TRAIN AND LEARN ABOUT
Millionday: The general director of the bank on behalf of al-Hassani said in a statement responded to Twilight News, she said the Rafidain Bank began advanced steps with regard to his bank to be parallel with his counterparts in the countries of the world.
Millionday: NOTE -- AND THAT MY FRIENDS SPELLS INTERNATIONAL COMPLIANCE
Millionday: PARALLEL IS A GOOD WORD FOR IRAQI BANKS AND THE BANKS OF THE WORLD WHEN WE ARE DISCUSSING BANKING REFORM
Millionday: He noted that the Rafidain Bank is one of the main pillars of the national economy and financial trading in Iraq and by virtue of its strong financial position.
Millionday: THE THING WITH CBI IS THEY ARE DOING A LOT RIGHT NOW -- THE MOVEMENT OF FUNDS WE HAVE BEEN DISCUSSING MUCH MORE THAN WE DID BEFORE --
Doug_W: began steps or implemented them
Millionday: IT HAS BEGUN AND WHEN THE FIRST STEP IS DONE --IMPLEMENTATION HAS BEGUN -- SO YES
Pablo: I just got here. What about the news report that the CBI has decided to hold off for now?
Pablo: The report is called: Who determines the deletion of zeros from the Iraqi currency?
Millionday: THEY HAVE THE IMF THERE HELPING TO REFORM BANKING TO BE COMPLIANT INTERNATIONALLY -- CBI IS THE CENTRAL BANK OF IRAQ ---
THEY HAVE THE JOB OF RELEASING VALUES NOT TO BE CONFUSED WITH THE RIGHT TO RUIN THE COUNTRY AND ITS PROGRESS OF REFORMS
Millionday: SOME JOURNALISTS HAVE STRONG RELIANCES -- HMMM
Honugirl: Hi MD! Can you tell me what the first step is again? regarding implementation? TY!
Millionday: THEY ARE PREPARING RAFIDAIN BANK AND OPENING OUT OF COUNTRY LOCATIONS
Millionday: IS THAT WHAT YOU ARE REFERRING TO?
Honugirl: Yes, so when you say that it has begun when the first step is done, you are referring to preparing Rafidian Bank and opening out of country locations....thanks so much. So sorry to hear about your hand. Blessings for a speedy recovery!
Millionday: THANK YOU -- RAFIDAIN BANK CALLED IT THEIR FIRST STEPS SO WITHOUT BEING THERE WE CAN JUST KNOW -- WE JUST KNOW IT IS THE BEGINNING --
wmawhite: The Rafidain announced over a year ago the reopening of the London............as well as plans to open branches in Frankfurt, Paris and China.
wmawhite: That was a year ago..............wow
Millionday: YES AND NOW THIS IS REGIONAL OPENINGS SO GREAT NEWS OF HOW MUCH THEY ARE EXPANDING AND THE IMPACT TO THE MARKET/STAKEHOLDERS
Millionday: Said Governor of the Central Bank of Iraq and Ali Mohsen Keywords agency, that early 2016 will see the issuance of new categories of paper currency is the dinar and 50 000 100 000 dinars, the Iraqi currency notes series.
Keywords and said, "The work at the present time is to take the necessary measures to directly measures Add new categories 50 000 dinars and 100 000 dinars to smooth the Iraqi currency notes, adding, that the issuance of these two categories does not affect the Iraqi dinar exchange rate against the US dollar."
Millionday: NOTE --THIS JUST MEANS THAT THEY WILL BE MAKING TWO MORE ISSUANCES --NOT THAT ALL REFORMS ARE PUT ON HOLD
Millionday: He added, "The categories 50 thousand and 100 thousand will be the beginning of the promulgation in 2016 and quantities covering the market need, adding that" the issuance of two classes will not have a relationship to revive the Iraqi dinar against the dollar. "
As for fraud, stressed Keywords that "the advantages of the two categories Cetkonan good recipes are difficult and they falsified Sthmlan sophisticated and high protection such as transparent window and a sign of the Spark, which limit the counterfeiting operations security signs."
Millionday: NOTE -- THIS IS CLEAR THAT IT IS NOT AN IMPACT ON THE EXCHANGE RATE ETC -- IT IS JUST EXTENDED PLANS
Millionday: NOTE -- REMEMBER THAT THE THEFTS OF CURRENCY WAS OF THESE CATEGORIES AND OTHERS -- REPORTS SAY THEY WANT TO RUN BOTH –
MEANING THE 25 AND 5000 AT THE SAME TIME AS THE NEW SECURE AND FADE THEM OUT SO ONLY THE MOST SECURE REMAIN - THAT IS REPORTABLY WHAT WILL REMAIN WHEN IT IS COMPLETE
Millionday: THIS IS NOT A HOLD UP -- BUT AN UPGRADE THAT WILL TRANSPIRE
Millionday: Keywords stressed, "The issuance of high categories will improve the performance of the Iraqi dinar and reduce dependence on the dollar in terms of large transactions will be performing large transactions in Iraqi dinars large groups.
Keywords and continued saying: "The central bank has no intention to withdraw from circulation categories for the time being except the 50 dinars category that have been withdrawn from circulation in the first of the month.
Millionday: NOTE -- THE DINARS WILL CAUSE THAT MUCH MORE DOLLAR BILLS TO GET OFF THE STREETS -- NOT MEANING LARGE DENOMS TO REMAIN IN CIRCULATION AS SOME THINK -- IMO
Millionday: And he was a member of the Economic Committee MP for the Kurdistan Alliance Najiba Najib confirmed the development of new measures by the central bank and the Finance Committee in the House of Representatives for the issuance of pumping 50 class thousand dinars
and a class of 100 000 dinars in the local market as a measure to reduce the demand for foreign currency and support the local currency.
Millionday: SO -- THAT WILL PULL MORE DOLLARS NOT BE WHAT IS USED FOR A MARKET ECONOMY –
IT JUST MAKES NO SENSE IMO DUE TO GLOBAL ECONOMICS -- IT IS A STRATEGY TO PULL MORE US DOLLARS FROM THE STREETS
Comments may be made at the end of Part 2 Thank You