Post From Dinar Updates By Rudie Part 1
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Welcome to dinarupdates.com news time with Millionday!
millionday] ok first tomorrow is the 16th and it is the date of a huge press conference so we will have some major announcement and we dont know what it is but - CBI and leaders and financial ministers will be there and part of it as well as others
[millionday] so i will be watching it and make sure we are informed of what it is smile
[millionday] here we go >>> Ministry of Planning on inflation confirmed the height, but the outlook confirms that the next term will see a significant decrease due to the improved situation of the Iraqi currency and an increase in oil revenues.
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Economic Advisory Ali Mahmoud explained in an interview for the "morning", that "the rate of inflation in the years 2004 to 2006 was estimated at 15 percent, either in the nineties was an estimated 20 to 30 percent due to higher prices and lower cash value.
[millionday] note --- the improved situation with the dinar is in many reports and we should see it a lot tonight
[millionday] Now, talk to Mahmoud, he witnessed a decline due to the improved situation currency and the Iraqi dinar and the oil revenues that supported the dinar, these reasons have led to an improvement in the value of cash, and then dropped the price inflation rate from 15 percent to approximately 4 percent.
He advisory that "Iraq has the cash significant to the corresponding foreign exchange, as it is possible procurement of goods and provide the market with and support the currency is curbed inflation.
[millionday] note -- obviously they are going ahead with the plan of the monetary policy and the economic reform
[millionday] now what that improvement will calculate to has not been told yet but interesting with the press conference tomorrow
[millionday] and inflation is "a measure of the overall average consumer price (Consumer Price Index) and consists of rates of prices for a range of expenses of the consumer such as housing and Alttabb, food, electric power, education and all capacities purchasing extracted from the overall rate is measured from year to year the other.
said Mahmoud to the existence of two types of inflation, the first resulting from the cost, and the second resulting from the increased demand and the presence of cash, and there are no goods face amount of cash in a lot of money chasing few commodities.
[millionday] note -- this is talking about the move to a market economy and the move that demand makes on prices -- they will adjust to keep inflation at a minimum
[millionday] and between Mahmoud said that "ratios of close to 10 or 11 percent Inflation is then "devastating", and can not commercial any measures to curb it, because it reduces the value of cash and living standards and destroy the savings, "but if at reasonable rates close to 2 percent,
but nevertheless should take notice of economic and fiscal policy that commercial rates the level of wages and the level of intakes, and that the hunting of inflation, but there will be a decline in the standard of living.
It is said that the Ministry of Planning and Development Cooperation revealed late last week, about the height of the inflation index for the month of January last year by 1.4 percent.
[millionday] , the ministry said in a statement received "morning," a copy of him: "The inflation index for the month of January last rose by 1.4 percent compared with the month of December the previous year," indicating that "the annual rate of inflation for the period from the month of January 2013 until January 2014 had risen was also increased by 4 percent.
She added the statement that "the cause of rising inflation due to the prices the Department of Housing and non-alcoholic beverages rose by nine percent."
[millionday] note -- the talk about pricing is a huge and very encouraging sign for us
hunch] Doesn't the rate of inflation have a bearing on what the RV rate will be? I have always heard and understood that they would take the rate from before and add 20% for inflation
[awesomedtl] Md they have been telling is for a long time they are moving the economic reforms.!???
[millionday] hunch the thing with the inflation is that they will use tools that governments have for that and let me explain
[sliderule] where is the ink about press conference
[magik] Do you think they would call a public press conference, one we know about, and use it to announce RV?
[millionday] they use interest rates -- pricing -- etc etc
[faith1] news said...confirms that the next term will see a significant decrease due to the improved situation of the Iraqi currency... when is the next term ????
[millionday] they use tools to keep the inflation rate within the country under control with tools they have for instance here -- the stimulus helped and they also do grants and so on and so on
[chattels] i have seen conflicting reports on the inflation, one says it is not bad and the other is the article you spoke to, so can we conclude that it is one over the other ?
[millionday] but it is not something that is changed by exchange rates - ] the word that they use translates to term -- phase -- timeline – etc it means coming up
[awesomedtl] What magic said!! Would they call for conference than make announcement!?
[millionday] yes they could very well do that awesomedtl and majik --- they will announce it to the citizens at least
Imperator] This report quickened my pulse! This speaks directly to our goal! I had to read it twice!
[millionday] carpet are you next?
[carpet] It seems like a RI to me not RV just the way there going opinion
[tourman] I would think that they announce very shortly after it had changed, not after. Maybe like 10-20 min after?
[millionday] it does not mean it is this conference but it can be expected when it is time to see them have a conference -- smile -- press statement
[tourman] before i mean
[millionday] Imperator me too!!
[magik] Yea! What time is the PC scheduled?
[millionday] tourman it would make sense to do that -- i agree it wont be a long time at all
[millionday] magik 10 est is what i saw
[millionday] here we go >>>> Transport Minister Hadi al-Ameri, Saturday, that the Council of Ministers formally approved the pipeline of oil between Iraq and Jordan. said, "the official Jordanian news agency" in the news, "The Jordanian Prime Minister Abdullah Eagles received,
today, Iraqi Transport Minister Hadi al-Ameri, who is visiting Kingdom to participate in the meetings of the General Assembly of the Land Transport Company Iraqi-Jordanian. T
he agency said, "The Jordanian Prime Minister stressed Jordan's keenness to strengthen relations with Iraq in various fields to serve the interests of the two countries and peoples, and the interest of the kingdom that Iraq remains stable and united."
[millionday] agency noted that "al-Amiri told the Eagles formally consent of the Iraqi Council of Ministers to extend the oil pipeline between Iraq and Jordan," indicating that "Ameri said that the line will be implemented by major companies specializing in this field.
Deputy Prime Minister Hussein al-Shahristani said in (the fifth of February 2014) for the design and bidding for new oil export pipeline through Jordan to the port of Aqaba, saying that the people of Anbar province, will be the primary beneficiaries of the extension tube.
[millionday] let me summarize -- so this is a formal agreement of the jordan and iraq pipeline but the huge thing is that Anbar will receive the largest of the oil distribution --- and that is great after so many problems in that area and the fact that they are calming that area successfully as well
[tourman] these theories of it having to be on a long weekend,, or holiday for it too happen would be a coincident?
[millionday] tourman i would agree that a long weekend would be best but this is Iraq and they have done alot of things that have not made sense -- smile
[millionday] end of report -- any ? brb with more
chattels] millionday one news report says that inflation is not bad and manageable and the other you you spoke to says otherwise, how / why are we to believe one as against the other ?
[Imperator] Well that first report was a very hard act to follow, that news was HUGE! I do have a question though.
[millionday] chattels the inflation rate has been referred to as an annual rate and also has been reported monthly -- that is the confusion
[millionday] Imperator ok go ahead hun ?
chattels] millionday thank you for your reply
[Imperator] When they talk about inflation, we have seen countries with runaway inflation do a lop. Their inflation seems to be very low. What are you thoughts?
[millionday] at the end of the year -- all countries talk about the inflation average for the past year -- many have been confused by the difference in the amounts when they came out with january
[millionday] yw all the time
[millionday] Imperator let me address that hun -- a lop is done when three zeros are on the prices -- currency -- and the inflation ---- their inflation is not close and also the imposed rate is not close to the reality rate of the iraqi dinar
[millionday] ok so here we go smile >>>. Although popular demonstrations outs Article 37 special privileges officials in the pension law, and the intersection of orientations national and Kurdish coalitions in this regard, sent Presidency of the Council of Representatives of law to the Presidency of the Republic for approval, on as announced by MP Kurdistan Alliance, Sheriff Soliman "morning."
while insisting the National Alliance to amend the article, said the Kurdistan Alliance, refusing to re-vote or even modified. Sulaiman said in response to a question by "morning" on how to amend Article 37: "The legal form available So is collecting signatures, but we are beyond that stage, because the law was voted on in general, he was sent to the Presidency for approval.
[millionday] so the pension law has been sent to the president for its approval --- it is done other than that
[millionday] here we go >>> President of Kurdistan Region Massoud Barzani met on Saturday 15 Feb. with members of the Patriotic Union party in Erbil to discuss the formation of the new provincial government.
An informed source told the National Iraqi News Agency / NINA / that the meeting discussed the distribution of positions and sovereign portfolios of the eighth government of the province. The source added that the leader of the Patriotic Union Barham Salih did not attend the meeting.
[millionday] no lop
[millionday] no lop
[millionday] no lop
[millionday] no lop
[millionday] no lop
millionday] trust me it is not a tool that will be used for iraqi economics
[millionday] the reality rate has been said to be coming out close due to how close their revenues and calculations are in that region or i should say with kuwait -- due to past comparison
[millionday] the calculations have come out close and also
Keep in mind that Kuwait's rate is $3.55 per dinar.....................Saudi Arabia's rate is $0.26.
[millionday] the contracts they have on the border etc with oil has made it appear that they will come out about the same in some opinions
millionday] ok lets get back to newstime smile
[millionday] faith1 it has some to do with sharing contracts and revenues
[faith1] millionday TY again !
[millionday] they have many of the same markets etc
[millionday] ok so here we go back to class
quicktolegit96] what kind of announcement are we expecting tomorrow, anybody?
[millionday] expecting CBI -- leaders-- and finance ministers -- it is an economic announcement they have said to be very important
[millionday] so we shall see
[millionday] .. New coalition united to repair its previous position towards the crisis Anbar, declaring his support for the effort which targets armed groups Daash and al-Qaida, pointing to its adherence to its previous position regarding the rights of the sons of Anbar.
said coalition united for reform in a statement received by the Agency (news) copy of it that he and 'from the start The position of the coalition and clear and initially crisis Anbar through dozens of statements and press releases and attitudes expressed by the President of the Coalition of Osama Najafi and that substance year with the people and the rights and against abuse and marginalization and monopoly.
[millionday] ' statement noted that 'as a result of such attitudes were formed many of the observations about the performance of the governor of Anbar province Ahmed Khalaf al-Dulaimi, and the method of dealing with the people of the province. '
statement said that 'coalition united to repair grants conservative eight votes of the total seventeen voice recognition and response to the desire arenas sit-in, which is chosen by the blessing of Sheikh Ali Hatem al-Suleiman, Dr. Ahmed al-Alwani and others,
in the hope of serving people of the province' urging him to be 'working hard to stop the indiscriminate shelling of his family from the people of the province, especially in Fallujah, where long bombardment families safe and Fallujah hospital but lounge operations where',
the statement said that 'the bombing was the approval of the governor and according to a number of military commanders' . statement called on the governor to provide an explanation for that
, in response to statements by military leaders as a head of the security committee in the province.
" He coalition united to 'received a claim immediate response Vacharf all honor, that defends the rights of the right and the oppressed, and sparing innocent evils of fighting