Millionday News 12/14/15 Part 1 of 2
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: OK BRB WITH NEWS WE HAVE VERY IMPORTANT TO LOOK AT
Millionday: FIRST LET ME SAY THIS
Millionday: NOTE -- THE 12TH AND THE 13TH WERE THE DATES FOR THE BANKING CONFERENCES WITHIN IRAQ TO TAKE THEM TO A MARKET ECONOMY
Millionday: HCL NEWS
Millionday: Kurdistan: the three presidencies meeting stressed the approval of the oil agreement between the center and the region coalition of Kurdish blocs Farhad capable, Sunday, that the meeting of the three presidencies yesterday stressed the need to pass the oil agreement between the central government and the Kurdistan region to end their differences.
Millionday: HUGE NEWS TONIGHT
Millionday: He is able to "Eye Iraq News", that "the meeting presidencies Saturday evening in the presence of leaders of political blocs stressed the need to pass the oil agreement between the center and the region to end the outstanding issues and differences between the parties," noting that "the commitment between the center and the region oil will reflect the positive Ntaija level the country. "
Millionday: NOTE -- THEY HAVE AGREED ON THE HCL
Millionday: "We are waiting for the parliamentary finance committee delivered its final report to the law of the general budget for 2016 to the presidency of the parliament so that lawmakers vote on the law," stressing that "the oil agreement between the center and the region from within the paragraphs of the budget, which will vote during the current week."
Millionday: NOTE -- DURING THIS WEEK THE HCL WILL BE VOTED IN FOLLOWING THE BUDGET VOTE
Millionday: It is said that a key cabinet and parliament Haider Abadi Saleem al-Jubouri and leaders of political blocs met on Saturday evening with the President of the Republic Fuad Masum, to discuss several outstanding issues in the forefront of exit unified stance towards the Turkish incursions into Iraqi territory.
Millionday: SO THEY ALSO SUCCESSFULLY DEALT WITH THE TURKEY MILITARY BUT THE HCL WILL BE VOTED IN DIRECTLY AFTER THE BUDGET EXPECTED THIS WEEK -- ACTUALLY EXPECTED ON THE 16TH
ann4: The HCL has to have re-instated/revaluation of Dinar?
Millionday: IT IS THE LAW THAT COVERS ALL OIL AND HYDRO CARBON ETC THAT IS PART OF THE BUDGET AND HUGE IN THEIR GDP THE PRICE IS SET IN THE GLOBAL MARKET
Millionday: IT IS VERY IMPORTANT DUE TO THE MANY LAWS OF DITRISBUTION IT IMPACTS AND THEIR MARKET OBVIOUSLY DUE TO THE HUGE AMOUNT OF OIL SOLD
Nadita: so HCL is in the budget..? and they are going to vote on it on 16th..?
Millionday: THEY ARE EXPECTED TO VOTE ON BUDGET ON THE 16TH AND THE HCL IS GOING TO BE VOTED IN THIS WEEK FOLLOWING IT DUE TO THE IMPACT AND HUGE PORTION OF THEIR REVENUES AND BUDGET IT IMPACTS IT IS EXTREMELY IMPORTANT
chacol: So the HCL will be voted on the 16th after the budget?
Millionday: IT MAY NOT BE SAME DAY BUT THEY STATED IT WILL BE THIS WEEK
MArco: HCL this week or next?? I was confused
Millionday: THIS WEEK
Millionday: THIS WAS SENT TO ME AND IS HUGE DUE TO THE EXPECTATION OF THE STOP OF AUCTIONS AS THEY REFORM THE ECONOMY
Millionday: To / all licensed banks and money transfer companies and exchange companies (stop processing the dollar) 12/14/2015
Millionday: SO THIS IS A FORMAL ORDER FROM CBI AND MEANS NOW
Nadita: They are stopping auctions? and ready to take out the lower denom...
Nadita: So auction of pulling the USD has met the quota? and release of lower denom..?
Millionday: THIS IS STATING THAT THE BANKS AND MONEY COMPANIES ETC MAY NOT DEAL WITH DOLLARS ANY LONGER --- THEY WILL BE SENT TO CBI I WOULD ASSUME FOR OIL PAYMENTS AS THE NATIONAL CURRENCY IS THE DINAR
Millionday: THIS IS VERY FORMAL AND MUST BE CARRIED OUT TO KEEP THEIR LICENSING
Millionday: THEY NO LONGER MAY ACCEPT THEM -- THE PLAN OF REFORM HAS DESIGNED HOW THEY WILL BE DEALT WITH
Nadita: This means all the training for new banking system are done and they are about to kick this off.. whopowwww
Millionday: WAIT UNTIL YOU SEE ANOTHER REPORT I HAVE WHOOPOW
hermantowncars: so how is a currency auction different from a currency exchange? they are just trading on type of currency for another right?
Millionday: THE WAY I UNDERSTAND THE WHOLE DOCUMENT IS THAT THE BANKS MAY ONLY DEAL WITH DINAR INCLUDING THE MONEY TRANSFERS
Millionday: THEY MUST ONLY USE DINARS AS WE USE DOLLARS THE NEW REFORM HAS DESIGNED HOW THAT SHALL BE AND ALL OF IT IS NOT OUT AT THIS TIME
Millionday: BUT THE ORDER IS OUT -- WHOOPOW
Millionday: THIS IS A LITTLE LONG BUT READ EVERY WORD -- SMILE
Millionday: Emirate witnessed monetary policy in Iraq after 2003 and extensive reforms included legal personality and powers, objectives and tools.
Thus, the new monetary system witnessed several radical changes, which included components (monetary union, institutions, laws and legislation), in proportion to the new philosophy of the state.
Millionday: NOTE -- THE REFORM NOW INCLUDES THE SAME AREAS AS DID THE CHANGE THAT PUT THEM IN THIS POSITION
Millionday: As a result of transformation Political been adopted based on the independence of the monetary authority monetary system, and thus ensured that the Iraqi central bank is independent. In this regard, economic expert Dr. said.
Falah Thuwaini «morning»: was the beginning of these transformations in the role of monetary policy is the central bank reforms through the enactment of a new law, is Law No. 56 of 2004, which was the most important of which is to give the Central Bank of Iraq recipe independence and Paragraph (2) of Article (2), that the central bank is independent,
Millionday: NOTE -- THE MONETARY POLICY CHANGES HAVE BEGUN AS CBI IS INDEPENDENT PER LAW
Millionday: including on his efforts in order to achieve Ohdavh.ola receive any instructions from any person or entity, including government agencies, except for the text stating to the contrary, as well as respect this independence.
If shifts above and found its reflection to pursue a new alternative rather than cheap monetary policy that characterized the monetary policy in Iraq, which is an alternative rules fragmentary base (Taylor) in addition to the exchange, which are working together to respond to inflationary expectations and try to install the signal.
Millionday: NOTE -- ALL LAWS ARE BEING APPLIED OTHER THAN THOSE THAT DO NOT COMPLY TO THE INDEPENDENCE CBI HOLDS OR GOES AGAINST WHAT THEY INTEND -- IN ADDITION TO THE RULES OF THE EXCHANGE -- WHOOOPOW
Millionday: He added. Thuwaini: As a result of the changes referred to the philosophy of the government must be a reflection of her return to the monetary issuance and the extent of government benefit from it.
And the fact that the central bank became independent and seeks to achieve his main goal represented by the stability of prices and the stability of the financial system, in other words the government can not use the CBI Kmtabah of money.
Millionday: NOTE -- ALL PLANS ARE GOING FORWARD INCLUDING PRICES AND THE STABILITY PLANNED FOR THE FINANCIAL SYSTEM
Millionday: NOTE -- CBI WILL MAINTAIN THE RESERVES AS THEY SHOULD HAVE IN THE PAST AND THE CURRENCY WILL HAVE MONETARY ISSUING AND GENERATED BY RESERVES (HARD BACKED)
Millionday: NOTE -- THEY HAVE BEEN WORKING ON THE USE OF NORMAL TOOLS TO CONTROL THE VALUE EVEN AS IT HAS BEEN SET AT THE CURRENT ETC
Millionday: He concluded d. Thuwaini that the increase in the base money growth, which is reflected on inflation the form of rates and as a result a return cash issue for the government is a swell caused by the tax that the money supply has become a variable externally for the monetary authority in spite of its independence, and the reason is the rentier characteristic that the advantage of the Iraqi economy,
Millionday: NOTE -- THE BASE OF GROWTH WILL BE FROM RATES, TAXATION, AND A RENTIER ECONOMY
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