Millionday Roundtable 4/27/15 Part 1
Welcome to dinarupdates.com for Roundtable with Millionday!!
Millionday: WE HAVE BEEN FOLLOWING SOME OF THINGS THAT HAVE BEEN SHOWING US THE WAY THAT EVERYTHING BEING DONE WEAVES TOGETHER
Millionday: WE HAVE MORE OF THAT INFO TODAY
Millionday: SOME OF WHAT WE ARE SEEING IS JUST WHAT CAN NOT BE PUT IN PLACE WITHOUT IRAQ GOING TO A MARKET ECONOMY TO BE IN LEGAL COMPLIANCE ---
Millionday: I AM ASSUMING THAT EVERYONE HAS READ THE NEWS FROM THE LAST TWO DAYS AND NOT REPEATING THE REPORTS
Millionday: Economic Adviser to the Prime Minister attributed the appearance of Mohammed Saleh rise in dollar prices in the domestic market, the central bank to restrict the sale in limited quantities, according to the text of the 2015 budget law.
Saleh said that "the quantities sold of hard currency and the US dollar from the central bank if they meet the demand for the dollar rose because the bank is restricted by law to sell financial budget amount of $ 75 million and can not overcome these quantities."
Millionday: NOTE -- THE REGULATIONS ARE IMPACTING THE WORK OF THE CBI - ACCORDING TO SALEH
Millionday: He explained, "There is a deficit in the balance of payments and the Iraqi We export our exports of oil to the dollar offset by the continuing high demand for import of goods and services purchased in hard currency from the drains of foreign currency."
Saleh pointed out that "companies to buy dollars from the central bank at any Cheap No price reflects the economic situation as well as the official dollar exchange rate does not reflect the state of the economy and thus the gap get in the exchange rate."
Millionday: NOTE -- THE DIFFERENCE WITH THE AMOUNT OF THE EXCHANGE RATE FOR THE US DOLLAR AND THE DINAR IS CAUSING PROBLEMS ---
EVEN THOUGH THEY ARE NOT IN A MARKET ECONOMY THERE ARE STILL PROBLEMS THAT ARE ARISING WITHOUT THE OFFICIAL DOLLAR EXCHANGE RATE
Millionday: He said that "the solution my personal opinion, be a formal reduction of the dinar and takes reasonable price have the ability to control the levels of liquidity larger because the current value of the dinar against the price Aldlar Aahakq to it."
He said the "dollar sale at a high price will pull dinars more and thus the control of the application meant to last the price and we mean here financed goods and services in foreign currency."
Millionday: NOTE -- THE WAY THEY HAVE BEEN GETTING AROUND THE ISSUE HAS BEEN BY FINANCING GOODS AND DOING SERVICE IN FOREIGN CURRENCY –
THE CURRENCT RATE HAS MADE IT VERY HARD TO KEEP THE PROPER LIQUIDITY IN THE BANKS AS WELL
Millionday: And witnessing the dollar in the domestic market, a remarkable increase saluting exceed by more than 5 to 6000 dinars for the central bank rate in its daily auction.
Article 50 of the Budget Law for 2015 that "the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and
Millionday: NOTE -- OBVIOUSLY THE NEW REGULATIONS ARE NOT GOING TO DO THEIR BEST WITHOUT THE ENTIRE REFORM PACKAGE BEING ACTIVATED COMPLETELY –
THEY ARE GOING AGAINST SOME THINGS THAT HAD TO BE PUT IN PLACE
Millionday: calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and input Alkmarki within 30 days from the date of purchase of the amount
and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.
Millionday: SO AS WE SEE --- THEY HAVE REGULATIONS THAT WILL BE BETTER APPLIED WITH THE REFORMS IN PLACE
AND ACCORDING TO THIS REPORT SALEH IS STATING THAT THE CBI LAW IS NOT SUPPORTING SOME THINGS THAT ARE BEING DONE OR NOT DONE IN THE GOVERNMENT -- WHICH THIS IS NOT A SHOCK IN A LARGE PROCESS SUCH AS THIS
Loop: What does this statement mean? >>"the solution my personal opinion, be a formal reduction of the dinar and takes reasonable price have the ability to control the levels of liquidity larger because the current value of the dinar against the price Aldlar Aahakq to it."
Millionday: IT MEANS THAT THE SOLUTION IN HIS OPINION IS FOR THEM TO DO THE FORMAL CALCULATION , AND CONTROL THE LIQUIDITY IN THE BANKS BETTER
SO THAT THEY ARE NOT IMPACTING THE PARALLEL MARKET AND ACTUALLY THE CALCULATION WOULD DO AWAY WITH THAT -- MARKET ECONOMY IS SUPPLY AND DEMAND DRIVEN
LIONKING Millionday: MD SAID THIS YESTERDAY....Millionday: SO WE HAVE READ IN MULTIPLE REPORTS THAT THE SMART CARD IS GLOBAL BUT ALSO WE CAN LOOK IN OUR OWN NEWS FOR THE SAME REPORT – DOESN'T IT MEAN ITS INTERNATIONAL???
Millionday: LIONKING ------ THIS DOES NOT MEAN THAT THE DINAR IS INTERNATIONAL -- NO
Millionday: IT MEANS THAT THEY HAVE STATED IN OTHER REPORTS THAT THE SMART CARD WILL BE GLOBAL -- AND
Millionday: IT ALSO MEANS THAT THE SMART CARD HAS BEEN BROUGHT UP IN OTHER COUNTRIES AS THE NEW MORE ADVANCED CARD TO MINIMIZE HACKING
allinxpress: The most recent "guruspeak" is that now the CBI needs to pass laws to separate from the GOI. Didnt we already go thru this and do you believe this is a hold up?
Millionday: I DO NOT THINK THAT THE CBI LAW IS TO SEPERATE FROM THE GOVERNMENT -- I HAVE NOT READ ANYONE`S COMMENTS ON THIS --- THIS IS WHAT I HAVE READ ------
CBI IS INDEPENDENT --- IT IS NOT SOMETHING THAT COMES FROM A LAW -- THEY ARE SEPARATE
Millionday: Confirmed member of the Committee on Economy and Investment parliamentary Najiba Najib said "all political blocs seek to pass legislation to invest in line economic developments and serve economic construction in the country."
Millionday: NOTE -- THE LAWS THAT ARE NEEDED FOR INVESTORS IN THE NEXT STAGE --
Millionday: REMEMBER THAT THEY HAVE BEEN GIVEN THE LIST OF DIRECTIVES AND ARE SETTING UP THE SWF ---SOVEREIGN WEALTH FUND
Millionday: Najib said in a press statement that "the Commission and with the executive bodies working on the adoption of the investment law amended to be satisfactory for all,
and far from the intersections between the National Investment Commission and their counterparts in the provinces."
Najib added that "all the material in the law emphasizes decentralization of powers and bodies attached to investment in the governorates to develop their work and the establishment of projects under the decentralized system.".
Millionday: NOTE -- THE EXECUTIVE BODIES ARE WORKING ON THE LAWS THAT WILL BE PUT IN PLACE FOR THE NEW ECONOMIC DEVELOPMENT
Millionday: The House of Representatives ended at its first session, which was held on Monday under the chairmanship of Vice-President of the Council Hamoudi and the presence of 229 deputies the second reading of the investment law.
Millionday: SO THEY HAVE MET AND COMPLETED THE SECOND READING TODAY -- THIS IS GREAT -- IT IS READY FOR A VOTE
LIONKING Millionday: I see the liquidity still an issue in Iraq?? If So ...what are the steps being taken??
Millionday: THE LIQUIDITY IS REPORTED TO BE A TOPIC FOR DISCUSSION BECAUSE THEY ARE TRYING TO PROTECT THE INTERBANK MARKET –
THEY ARE MEETING ON THIS AND DECIDING ON WHAT TOOLS TO USE -- WE CAN GATHER THAT FROM THE REPORT WE HAD FROM SALEH -- HE IS GIVING HIS OPINION ON WHAT TO DO
Millionday: THEY HAVE ALOT ON THE TABLE TO PASS ALL THE LAWS THEY HAVE IN PLACE -- HOLIDAYS ARE CANCELLED AND THE EXECUTIVE BODY IS MEETING AS WELL TO PREPARE ALL LAWS THAT IS NEEDED NOW --
Millionday: NOTE -- THERE ARE MANY THINGS THAT THEY HAVE REPORTED THEY ARE WORKING ON ---- OBVIOUSLY WE ARE GOING TO SEE MANY STEPS IN THIS PROCESS --- THEY HAVE ANNOUNCED THAT THEY ARE ACTIVATING THE REFORM PACKAGE --
Millionday: MAYBE THIS WILL MAKE YOU SMILE
Millionday: Split the world in the past decades to bipolar rival possess the power to influence the global economies are capitalist pole Socialist pole, and with the developments that have occurred during the two decades of globalization emerged Vozaan sparked the second pole and changed even in the first pole concepts and so is the case, the world has turned into a village as described by experts.
Millionday: NOTE -- THIS IS TALKING ABOUT WHAT IS EXPECTED FROM IRAQ IN THE GLOBAL MARKET AND ITS SYSTEM
Millionday: Since the advent of globalization has changed with the monopolistic economic concepts, holistic and mixed and there was one concept is the economic superpower and has produced them twenty states and seven tigers and other economic blocs, followed by the developing countries to track changes and trying to cope with the situation without specific curriculum, including Iraq.
Talk here recede in the framework of the role of the IMF and the World Bank are in control of most of the developed and developing countries,
including economies, when do these Aeriktin institutions support the economy of a particular country, either through lending or grants, they impose strict conditions on this country or that, how would explain these conditions?
Millionday: NOTE ----THEY ARE TALKING ABOUT THE IMPACT OF IRAQ`S TRADE IN THE GLOBAL SYSTEM WITH SO MUCH GOING ON POLITICALLY AND WITH POLICY
Millionday: The answer is easily the economic dependency of the system that governs these institutions, this is the reality of the situation is optional dependency and is not binding on the extent to help these institutions because of the conditions that afflict this country Aomak.
China we've got today a new institution in the face of an optimal solution to the difficulties faced by developing countries and in its interior, a strong competitor the two institutions wars in the field of control and acquisitions and dependency through the adoption of the founding of the Asian Investment Investment Bank in infrastructure.
Millionday: NOTE -- THE REGULATIONS THAT ARE BEING SET UP IN ANY COUNTRY`S ECONOMIC DEVELOPMENT HAS TO TAKE INTO ACCOUNT THE REGULATIONS SET BY THE WORLD BANK AND THE IMF AND DUE TO THE GOAL OF IRAQ -- THE WTO TOO IN THIS CASE –
AND NOT ONLY THESE THAT ARE VERY WELL KNOWN -- BUT IF YOU LOOK AT THE ORGANIZATIONS THAT IRAQ IS PART OF THE REGULATIONS NEED TO BEGIN WITH ALL THE REGULATIONS THAT APPLY ---
Millionday: NOTE -- THE REGULATIONS BEING PUT IN PLACE TO COMPLY WITH THE IMF --WORLD BANK -- ETC ARE NOT TO JUST GOVERN IRAQ -- BUT TO HELP ADD NORMALCY --
Millionday: In apparent that any Asian piggy bank on Asian developing countries surgeries and others, including Iraq as suffering from deterioration and collapse of infrastructure need is urgent to join, do you question Iraq possessed elements join?
dealing with this matter is extremely sensitive Iraq engagements with the International Monetary Fund and the World Bank and the wide and complex, you can question the link with New China What are its implications? Wanted studied carefully Valtriqb developments is important at this stage.
Millionday: NOTE -- THE JOINING OF THE ASIAN INFRASTRUCTURE DEVELOPING/INVESTMENT BANK HAS BEEN A HUGE ISSUE IN THE NEWS AND LAST COUNT WAS ABOUT 60 COUNTRIES --- IRAQ HAS BEEN ASKED TO JOIN AS WELL
Millionday: NOTE -- THEY ARE SAYING HERE THAT THIS HAS TO BE CONSIDERED NOT ONLY FOR IRAQ BUT FOR THE GLOBAL PLACE THEY ARE ESTABLISHING AND THE IMF AND WORLD BANK AND ALL RELATIONSHIPS THEY ARE DEVELOPING -
Comments may be made at the end of Part 2 Thank You