Millionday News 2/5/16 Part 1 of 2
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: OK TONIGHT I AM GOING TO SHOW FIRST WHAT THE MEANING IS BEHIND THE FIRST REPORT -- SO A LITTLE INFO ON MACRO ECONOMICS
Millionday: NOTE -- THIS DESCRIBES WHAT THE RULES ARE FOR BANKING WITHIN REQUIREMENTS AND COMPLIANCE
Millionday: When a customer makes a deposit into his account at a bank, this creates a liability for the bank. A liability describes the bank's obligations, or what it owes to others. In other words, the bank is liable for the amount of the deposit. On the other side of the coin, the deposit creates an asset for the bank.
Millionday: The bank now owns the value of the deposit and will put the money to work, looking for a rate of return that exceeds the interest it pays on the liability.
This is the business of banking. By offering savers a return (and/or other services), banks take in deposits (liabilities), which creates assets that a bank can lend out. As long as the total return on assets exceeds the payment on liabilities (and other costs of doing business) the bank is profitable.
Millionday: When a bank receives a deposit, it must keep a portion on reserve with the Federal Reserve (Fed) and pay a deposit insurance premium to the FDIC. At the present time, the Fed's reserve requirement is 10%
Millionday: SO WHAT THIS IS DESCRIBING IS THE REASON FOR A FEAR OF "RUN ON THE BANKS" -- THEY ARE NOT REQUIRED TO HAVE ALL OF THE MONEY DEPOSITED IN CASH ON HAND AS THEY MUST USE THE MONEY THEY HOLD TO CREATE A RETURN WHILE IT IS THERE IN ORDER TO BE A VIABLE BUSINESS ---
Millionday: IT CREATES LIQUIDITY FOR THE BANK --
Millionday: THE MONEY --CASH THE CITIZENS HOLD IS >>>>LIQUIDITY ON THE STREETS
Millionday: WITH THAT IN MIND -- HERE COMES THE REPORT
Millionday: Called for an economic researcher as much as possible of the money supply that are outside the banking system to attract in order to become among the credits granted by banks to ensure the liquidity distribution in order to serve the country's economy.
He said Firas Amer in an interview with «morning» that the withdrawal of liquidity to the banking system
Millionday: NOTE -- THEY ARE CALLING FOR MONEY TO BE DEPOSITED INTO THE REFORMED BANKS SO THAT THE CITIZENS USE THE BANKS AND THEY ALSO HAVE -- THE ASSETS IN THE BANKS THEY NEED AND THE FUNDS TO PAY THE BILL OF THE INSURANCE THE BANK CARRIES
Millionday: NOTE ------ THIS IS CALLED A >>>> RE-DISTRIBUTION OF LIQUIDITY --
Millionday: NOTE -- THIS IS WHY >>>>He said Firas Amer in an interview with «morning» that the withdrawal of liquidity to the banking system It comes to the revitalization of the banking and urged the public to deal with the banks,
noting that the issue of withdrawing liquidity from the public and her husband to the bank credit would enhance the trade movement in the country by launching the banks loans, which in turn contribute significantly to the economy move.--
Millionday: The central bank shares over the past year in the re-employment of more than three trillion dinars into the banking system through the sale Hawwalath auction of 91-day amounting to 200 billion dinars.
Millionday: SO THEY ARE CALLING FOR MONEY TO BE EXCHANGED INTO THE BANKS WHICH THE ONLY WAY THAT IT CREATES LIQUIDITY IS TO MOVE TO ELECTRONIC BANKING -- DEPOSITED SAVINGS -- LOANS FOR REAL ESTATE /BUSINESSES CARS --- DEBIT CARDS -- CREDIT CARDS -- ETC ETC
Risk: Iraqi's dont trust the banks.......You see this as a real problem?
Millionday: THE BENEFIT IS ACTUALLY SHOWN TO US BY WHAT IS ACHEIVED ----
FOR INSTANCE WHEN YOUR NEIGHBOR PULLS UP IN A NEW TRUCK AND YOUR BROTHER BUYS A HOME AND WHEN YOU READ IN THE PAPER ABOUT THE LOCALS OWNING BUSINESSES –
IT HELPS SPREAD THE DESIRE TO USE THE BANKS AND CREDIT --- IN ALL ECONOMIES THERE ARE PEOPLE ----"OFF THE GRID"
HOWEVER --- IT IS BALANCED BY THE DESIRE TO HAVE WHAT ANOTHER HAS ---- AND REMEMBER THEY ONCE FLOURISHED SO THIS WOULD BE A SIGN OF THE RETURN TO NORMAL TO MOST
Millionday: IMO AMERICANS DONT TRUST THE BANKS EITHER BUT ----
Papatom: this...following the funding mentioned last night for individuals for business and small enterprises...is really marking the start of the dishing out of the dinar in the new economy....it is VERY very big news in my opinion...in the USA the lions share of employment rests in small business...Iraq is modeling that example.
Millionday: IT IS HUGE NEWS IMO AS WELL -- IT IS THE BEGINNING OF THE BANKING REFORMS AND TRADE FOR IRAQ –
THE LIQUIDITY WILL IMO BE USED FOR ALL CONTRACTS ACCORDING TO THE GOALS WE HAVE READ AND THAT WOULD INCLUDE INTERNATIONAL TRADE AND INVESTMENT AND ALSO INTERNATIONAL BANKING -- WITH A STOCK MARKET –
THEY HAVE AN OBLIGATION AS AN INTERNATIONAL BANK TO BECOME AS BIG OF A BUSINESS AS THEY CAN BE -- THIS INCLUDES MONOPOLIZING ON ANY OPPORTUNITY TO GAIN THROUGH INTERNATIONAL BANKING FROM INTEREST RATES OUTSIDE OF THE COUNTRY AND IN ETC -- HUGE HUGE NEWS IMO
Millionday: THE RE-DISTRIBUTION OF LIQUIDITY WHOOPOW --
Millionday: WITH WHAT WE JUST READ -- THIS IS ALSO A RESULT OF THE RE-DISTRIBUTION MOVE
Millionday: Hashimi confirmed specialist in the field of insurance that the insurance sector contributes effectively in the money from multiple sources compiled for use in new projects or expand old projects and thus the insurance companies play a significant and prominent role in financing economic development projects.
Millionday: The insurance sector Iraq's three insurance companies and government, are all from the national insurance company, Inc. Iraqi insurance, re-insurance company, along with 29 insurance companies to the private sector in addition to the two branches of the two insurance companies Ajunbatin.
Millionday: NOTE -- AS WE HAVE JUST READ ABOUT -- THE INSURANCE FUNDING FROM BANKING CREATES A FUNDED MARKET --- SO THE USE OF THE LOANS ALSO OPENS A HUGE MARKET –
FOR INSTANCE --- INSURING YOUR BUSINESS -- HOME -- SELF -- WORK PLACE -- LABOR COMPLIANCE -- CARS -- ETC ETC -- HUGE
Millionday: NOTE -- THIS RAISES THE VALUE OF MANY MARKETS IN THE STOCK MARKET -- DUE TO THE RAISED VALUE (ASSETS) OF THE BANKS -- INSURANCE COMPANIES -- AND THE LIST IS LONG
Millionday: the competent Saadoun al-Rubaie said in an interview «morning»: the insurance all kinds subject generally to any country's economy, noting that any development is happening in Iraq, the economy will be reflected positively on the insurance sector, stressing that the financial stability is also a contributing factor to the development and prosperity of insurance in its different forms.
Millionday: He explained that the booming economy and revitalization will impact on business productivity activate and make it easier for market the provision of goods and services required
and then you will be able insurers to perform their role of providing services and developed through the issuance and documentation covering the types innovative insurance, saying it was ready to pay compensation for damages and losses caused by accidents involving documents holders of insurance.
Millionday: NOTE -- HE IS SAYING THAT IT FUNDS THE USE OF THE INSURANCE FOR CLAIMS--
THIS CREATES JOBS FOR REPAIR AND THE RESULTS CONTINUE ONTO A HEALTHY ECONOMY THAT IS DUE TO GROWTH AND THE MOVEMENT OF FUNDS THROUGHOUT THE NATION
Millionday: He pointed out that in times facing the State economic fluctuations or a recession, it will impact on the insurance and back down and weaken its activity and liability covered by insurance which is a professional responsibility faced by different professions and crafts employers or employer is responsible for his employees.
Millionday: He said the new projects depends mainly on the contribution of the insurance companies in order to encourage the establishment of industries and projects that may be unable to implement the domestic investor and carry risks,’
pointing out that insurance companies contribute effectively to the development of the economy by entering into investment projects in the housing and real estate industry and other sectors.
Millionday: NOTE -- IT IS VERY IMPORTANT FOR THE INSURANCE COMPANIES TO HELP NEW BUSINESSES AND CUSTOMERS GET STARTED AND THIS IMPACTS THE INSURANCE BUSINESS`S BOTTOM LINE AS WELL -- AND ONTO THE VALUE OF THEIR SHARES
Millionday: READ EVERY WORD >He pointed out that the national economy in the United States depends on the money the insurance, including accounted for 10 percent, the proportion indicate the effectiveness of this sector and the important role it plays and play in the American economic sphere.
Millionday: He focused Rubaie in his interview that insurance works to facilitate trade and increase its size in international relations by covering all hazards related to transportation and shipping as to encourage investors to handle and implementation commercial contracts and assurance of the existence of compensation in the event that his goods to spoilage or damage or any other damage.
Millionday: NOTE -- IT ALSO MAKES IRAQ MORE COMPETITIVE AND MAKES INVESTORS MORE ATTRACTED TO THE IDEA OF PUTTING THEIR --- INSURED-- INVESTMENT INTO IRAQ --
Millionday: The Office of insurance, the Ministry of Finance, the regulator responsible for matching the final accounts of the insurance companies and Aymanh agreed to renew the practice of insurance business to the private sector permit unless progress accounts the closing of these companies, the fact of disclosure and transparency reinforce they argue good reputation to companies in yard work.
Millionday: NOTE -- THEY HAVE AGREED TO OPEN BACK UP THE INSURANCE COMPANIES THAT WERE CORRUPTED AND THE BOOKS SHOW THE FOLLOWING OF REGULATIONS
Millionday: >>>>It is worth mentioning that the majority of the Iraqi insurance expertise manages most insurance companies in different regional states, because the first launch of the work of the insurance companies in the Arab world were from Iraq.
Papatom: the insurance companies...and reinsurance company all come from the National Insurance...first paragraph! it is interesting that its a state owned enterprise...isn't it? i would think other outside insurance sources would want in on the profit to be made.....that is planned....
Papatom: it's like money recycling....pay premiums...have claims ... get back money from losses...pay premiums....
Millionday: THAT IS GOING TO RESULT IN A HUGE GROWTH KEEPING IT INSIDE IRAQ IN MY OPINION -- NOT THAT MORE COMPANIES WONT COME IN BUT THE INITIAL IMPACT WILL BE HUGE
Millionday: I AGREE -- GOOD POINT AND THE JOBS THAT WILL CREATE WILL BE MASSIVE AS WELL -- EVERY CAR BOUGHT BRINGS WHEN I LAST LOOKED 3 JOBS INTO THE MARKET -- SO EACH CAR X 3 WILL BRING ALOT OF JOBS
Papatom: inspectors, adjusters, underwriters, salespeople, managers, clerks........
Millionday: IT ALL IMPACTS EACH AREA IN A HEALTHY ECONOMY IT CANT BE HELPED DUE TO EACH MARKET DEPENDING ON THE OTHER AND FUNDING THE OTHER
jwjd: i declare by our sweet Jesus the dinar rate is changing to a new rate! this just came over me..
Millionday: THANK YOU HUN -- AMEN
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