Millionday Roundtable 6/16/14 Part 1
Welcome To Monday Roundtable With Millionday!
[millionday] A spokesman for the Kurdistan Regional Government of Iraq on Monday that the provincial government believes that the share of total sales of Iraqi oil should be up to 25 percent, according to Reuters news agency Mazkrth. She said that the Government of the Territory, "the Baghdad provincial budget cuts to pay for the sale of oil independently away from the control of the central government in Baghdad."
[millionday] note --- they are not supposed to be selling oil independently
[millionday] note -- they are saying here that they want a quarter
"The rate was just seventeen percent estimate was used, but so far we do not get it in the current year we get about 10.5 percent only of the total budget of Iraq.
[millionday] so this should be interesting and may be changed in the future brb with more
[millionday] isnt much to discuss on that one lol
[DinarGroupie] Millionday if they have had so much trouble getting 17 percent, what makes them think the govt will give them 25?
[Dego] it looks like the Kurds trying to leverage the current situation, hope they don't overplay their hand...?
[millionday] me too -- but requests dont mean much if you arent following the rules already -- smile
millionday] i have a whopper coming - hold on one sec
[terry37] New People, New Idea, so try a new plan.
[millionday] ok here we go with a BIG MACK smile
[millionday] Called on the Finance Committee and an expert in economic affairs the central bank to the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies and not rely mainly on the U.S. dollar, to build a diversified economy and a flexible retractable face of economic crises present and future.
Said a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri In an interview for "The term the main currency in the country is among the dinar offset by the U.S. dollar, which is considered the base currency in the trading process locally and globally because of its economic power, affecting most countries of the world.
[millionday] note this was sent to me by a member -- and a great one smile
[millionday] note -- more talk on the exchange and advancement of the dinar
[millionday] this is a huge report dated today so it has more info in it - so lets read it all -- smile
[millionday] He added that "the existence of a basket multiple foreign currencies greatly help to ensure resilient economy can cope with financial crises and their impact on the dinar National, where he owns a system of currency trading has many advantages,
such as maintaining the rate of real exchange in the face of financial shocks and the decline in the value of the currency and avoid any exaggeration in the rate of exchange as well as the relative stability of the exchange rate of the currency, as the high value of a particular currency in the basket means lower other currencies for that currency and vice versa
[millionday] note -- they are meaning the sdr and the way it would bring a lower price vice versa is by supply and demand as a currency product on the market
[millionday] "explained Yasiri that" public acceptance and how widespread the circulation of the U.S. dollar put data by which dispense with the other currencies such as the yen Japanese and European euro and other helping on their laurels citizen in a single currency more assurance than others.
"according to the newspaper term confirmed Yasiri that" the central bank has a responsibility shift financial dealings of the monopoly of a particular currency for the stock market to the entry of foreign currencies competition through the activation of its own laws and that Order for more than 5 different currencies represent countries leading economic and economically strong
[millionday] note -- meaning that they have a responsibility to move forward to the citizens --
[millionday] "and pointed to" the need to diversify reserves National from various world currencies in addition to the coins and other metal and gold in particular to support the Iraqi dinar and increase Rsanth financial and reflected significantly on the level of improvement in the economy of the country "and pointed out that" exchange rate in any country depends on the balance of payments which arise from factors affecting the presentation of the national currency and the demand for them,
any surplus in the balance of payments of the state leads to increased demand for the national currency, which leads to higher disbursement versus other foreign currencies and vice versa. "
[millionday] note -- they are explaining that it needs to be under supply and demand as i was just saying -- love this report!! [Dego] imho the timing would be perfect right now to smooth over some of the uneasiness and build a momentum for the new Government
[terry37] momentum being that the dinar would be worth more than the US Dollar. I think.
[millionday] note -- this part is a great explanation of how this works >>and pointed out that" exchange rate in any country depends on the balance of payments which arise from factors affecting the presentation of the national currency and the demand for them, any surplus in the balance of payments of the state leads to increased demand for the national currency, which leads to higher disbursement versus other foreign currencies and vice versa.
[lstar877] they have a responsibility to move forward.... love it
[millionday] me too -- smile
[Dego] it would have a huge impact on the Public psychologically ..
[millionday] In turn, the economic expert Abbas Bahadli in an interview for the "long" to "choose other currencies represent a basket of global economic must be on the basis of serving the national economy and the movement of trade and mutual investment with countries with an economy strong financial, and considers this step to enhance the value of the Iraqi dinar, and reduce the the potential risks to the local currency as opposed to linking them in a single currency as dollar
lstar877] Yay im ready!! This is great!
[millionday] . He added that "the increase and diversification of foreign currency and use it as a reserve pick it economically by the Central Bank of Iraq represents addition of monetary policy and help to enhance the value of the dinar by increasing dealing with other countries,"’
explained Bahadli that "money is the measure of the values of goods and services represent one unit of money, for example, dinar standard to calculate the values of things, including the calculation of this process of pricing, which requires the presence of groups of cash representing the complications or parts of them
[sczin11] help to enhance the value of the dinar by increasing dealing with other countries,"
[Florida Country Girl] Show me the money
[dovi] the money interests that have been working with them knew all along this kind or attack could and probably would come up and are not going to let them drop out easily
[millionday] note -- the value of one currency therefore would not affect the value -- the trade of their dinar would raise the value of their currency as well -- as a unit
[millionday] therefore, is a mediator of the swap between the goods and services as a result of the contradiction between the mechanism barter of goods and services and the market mechanism of freedom of choice, and the decision to purchase or sale "and that" the movement deal depends on the monetary policy of each country, there are states that allows monetary policy trading of its currency outside its borders, and there are other countries to prevent it, such as Iraq
[quicktolegit96] any hard news on when new Parliament will be seated, that is what we need lol
[millionday] which has become a currency is not allowed to be traded externally, but not taken to support the dinar in the coming years, but through the development of an economic plan national actors on the ground are working to increase production and start-up development projects and attract major foreign investment real new order to ensure the support of the local currency in the coming period. "
[clay] always coming days
[Dianne777] clay yep
[jbjb4] Dego - No single party or coalition could not take credit for the monetary reform during this interim period. They could not use it for their future political advantage if the reform took place at this time.
[millionday] note -- they are not internationally recognized as of yet but what they are saying here is that many are working to change that
millionday] note -- the word that translates to coming days also translates to the word "next, coming up , ect"
[hstrymknwmn] I wish those many would get rid of those few that don't want change
[millionday] thats the end of that report
[Dego] it sounds really like a prelude...:}
[sczin11] millionday and i think they are saying not to wait years, but do it NOW!
[millionday] go ahead hun -- chat at roundtable
[larrykn] don't know how they can raise there currency if they can't give a stable government
[clay] do u really think they will revalue w/this turmoil now
[jackflash101st] Great report thanks
[millionday] Dego -- i agree - the turmoil is political -- this is the economics of the country ---
[sczin11] millionday BINGO!
[clay] but country is not united
[wheresmyrv?] Amen millionday
[millionday] actually they seem to gain unifying right now as they help each other smile
[clay] sure hope so
[magik] Didn't Turki say he was waiting for a stable GOI?
[larrykn] why would they raise there currency if a army that might come in and take over everything
[cobaltbroker] Theres no better way to unite people and move them forward that by giving them economic stability. I think they'll do it because to not do it is more detrimental.
[millionday] magik country stability -- the election was a success and actually they should be releasing the names of who won today or tomorrow
[Dego] if the CBI would play this card now this week, it would be very favorable for the entire new coalition, because People would probably see it that way....
[Dianne777] well shabibi did say when we were'nt expecting it, I personally dont expect it with all the violence going on, but who knows
[radronin] Once Maliki is gone, then The fighting will subside markedly.. IMO
[millionday] the thing is this --
[clay] radronin agree
[slh5282] millionday, will they release the name of the Prime Minister replacing maliki?
[radronin] Ratification has commenced- right step in the right direction!!
millionday] if arizona and utah had terrorists taking it over and they were even attacking close to Washington -- the resolve would be taken from security -- allies if needed -- local police ect -- but would not stop budget talks and trade --
[clay] millionday got ya
[larrykn] radronin do you think ISIS cares about the economics of Iraq
[Dianne777] millionday great point
[dovi] saw comments from a top ISIS general who said it will stop if Maliki goes
[popeye7] The political instability is just a diversion IMO... Suddenly there will be a coming together so to speak in order to show stability... Can't let the world know the reality of the situation... Otherwise everyone would be investing right?...
[millionday] now if they are waiting for this to be done -- it would be strange to me because i cant imagine the federal reserve doing such a thing and it makes no sense economically
[awesomedtl] It's challenging as time goes on because they have pretty much been saying same thing for months and nothing changed yet.... Crying wolf all this time
[sczin11] clay radronin if you just look back to 1948, (when Israel became a state), there has been fighting alwasy in ME, and probably will always be fighting in ME... JMHO
[millionday] if you look at international trade and also the reports that are being given the two would not be a deterrent
[clay] sczin11 yep