Millionday News 6/19/15 Part 1 of 2
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Millionday: Governor of the Central Bank take on the Keywords, Thursday, that the decision to cancel the duties and taxes will reduce the dollar exchange rate significantly, confirming the approval of the crisis cell on the Bank's proposal to delete the custom duty and tax on the purchase of the dollar.
Millionday: NOTE -- SOME THINK THIS IS NOT A GOOD THING --BUT –
A PARALLEL MARKET CAN NOT DEVELOP-- THIS WILL MINIMIZE THE SPREAD FROM OFFICIAL RATE ---SO WE CALL THIS ECONOMIC TOOLS BEING USED FOR PREPARATION
Millionday: Keywords and he said in a press statement Agency / information /, received a copy of it, that "the economic crisis cell headed by Prime Minister Haider al-Abadi agreed to the proposal of the Central Bank of Iraq delete custom duty and tax imposed on the purchase of the dollar, amounting to 8%."
Millionday: NOTE -- THIS STEP IS OBVIOUSLY ABOUT THE CURRENCY BY PULLING THE TAX
Millionday: Keywords and added that "the decision to cancel the fees, taxes and other measures will reduce the dollar exchange rate significantly.
The prime minister Haider al-Abadi stressed on Thursday the need to maintain the dinar exchange rate against the dollar in the domestic market and the prosecution of any disorder not accompanied by objective conditions factors, as approved by the crisis cell under his chairmanship on the proposal of the Central Bank delete 8%, which represents income tax and customs-added of remittances.
Millionday: SO -- AS I WAS SAYING -- REDUCE THE DOLLAR EXCHANGE RATE -- SMILE --
jarhead: are they selling the dollar back to other countries minus the 8%tax? to get rid of it?
Millionday: NO -- THIS IS TALKING ABOUT IN COUNTRY
carxpress: If they removed the 8% .. did their value only change by that 8%
Millionday: NO -- THIS IS TO MINIMIZE THE SPREAD BETWEEN THE OFFICIAL
Millionday: THIS IS A TEMPORARY MEASURE
RML: We think that the solution to all their problems is the same solution to all our problems (i.e., increase in currency value)...obviously not the case.
The politicians and bureaucrats seem to be comfortable in maintaining a status quo there that to us is haphazard at best. The universality of politicians everywhere, it seems.
Who benefits, MD, maintaining the status quo regardless of how meat headed it all is??!!
Millionday: WHEN THERE IS A NEW BUDGET AND A NEW MONETARY POLICY AND A NEW REFORM AND EVERYTHING ELSE THAT GOES WITH IT –
ESTABLISHING A MARKET OUTSIDE OF THE OFFICIAL CURRENCY/STOCK MARKET AND MARKET ECONOMY IS NOT THE GOAL --- BLACK MARKET APPEARS AND THE DAMAGE OF INFLATION IS A PROBLEM
Millionday: BGG-- ANYTHING TO ADD?
BGG: the main benefactors of "status quo" are...
BGG: various political entities who benefit in the current woeful situation.
BGG: who stands to gain from changing the "status quo"??
BGG: everyone else. (this includes you, me, MD and everyone in Iraq).
BGG: and since MR in Iraq will obviously have some impact on their neighbors...
BGG: ask yourself why they are meeting with Iran, Turkey, the Saudis, Kuwait...
BGG: in Jordan ( who BTW have offered SF troops).
BGG: ask yourself why all these "meetings" while they obviously have other very important priorities in their western provinces??
quicktolegit96: HOW FAST CAN THEY INDEED GET ALAQ OUT OF THERE? I BELIEVE THAT IS THE KEY.
Millionday: THE THING IS THIS
Millionday: EVERYONE IS LOOKING FOR A ONE MAN KEY -- THERE IS NOT ONE -- NO NATION IS IMPACTED ECONOMICALLY BY ONE MAN -- MEANING THEIR ECONOMY --- IT IS A NATIONAL ECONOMY -- GOING TO A GLOBAL MARKET -- A BIG PICTURE
Millionday: IF SOMEONE IS STANDING IN THE WAY OF AN ECONOMIC REFORM -- BE GLAD IT IS NOT YOU
Millionday: I BROUGHT THIS TODAY BUT I HAVE TO ALL OF YOU
Millionday: READ EVERY WORD
Millionday: Chairman of the Wasit province Mazen Zamili revealed on Friday by the Central Bank of Iraq agree to put Kut Barrage in Iraq's new currency designs, as pointed out that the Central Bank will work in this project when the immediate return of the Iraqi currency structure, counting a design Kut Barrage on the Iraqi currency It is important as a tourist and economic edifices in Iraq.
Millionday: NOTE -- DONT MISUNDERSTAND -- A NEW CURRENCY HAS ALWAYS BEEN EXPECTED TO COME OUT IN THE FUTURE AND FADE OUT THE SERIES THEY HAVE ADDED TO
Millionday: Said Zamili in an interview with the (long-Presse), "The Central Bank of Iraq and agreed to a proposal we made under our book (in 1051 on the fourth of June this) would put a picture Kut Barrage in Iraq's new currency designs,"
adding, that "Kut Barrage Project economic and national believe in water distribution between the southern provinces. "
Millionday: NOTE -- CBI AGREED
Millionday: He Zamili, that "the Central Bank of Iraq ago our book under the Directorate General of versions and the reservoir call (261 on the seventeenth of June this) that he took into consideration the situation in Kut Barrage Iraqi currency designs when direct project re-structure the Iraqi currency."
Zamili noted, that "the presence of design Kut Barrage on the Iraqi currency is important as monuments of urban, tourist and economic in Iraq," noting that "the Kut Barrage constructed by the Iraqi government by one of the English companies in the thirties of the last century."
Millionday: NOTE -- THE NEW DESIGNS OF COURSE ARE FULL OF THE SECURITY WE HAVE WITNESSED AND READ ABOUT IN THEIR CURRENCY - BUT THE DESIGNS ARE FULL OF THEIR HISTORY
Millionday: The past few years have seen several attempts, whether from the government or from the central bank to replace the tiny paper currency denominations metal or printed large sections of the Iraqi currency (fifty and a hundred thousand dinars) or delete the zeros of the Iraqi currency,
but all such attempts have not been implemented on the ground for several considerations, including Print coins that costs very expensive addition to the fear of confusing the Iraqi market and reflect negatively on the Iraqi citizens and the economy.
Millionday: NOTE -- CURRENCY HAS TO VALUE MUCH MORE THAN THE EXPENSE TO PRINT IT -- SMILE
Millionday: The company Balfour Beatty English Kut Barrage project carried out on the Tigris River in Wasit Province to regulate water distribution between the provinces of Wasit and Dhi Qar, Maysan, and officially opened in the (29 / March / 1939).
Located Kut Barrage on the Tigris River, linking the city center with the western side where, and is an important milestone in Kut, Wasit province in general, has been created by a British company and opened in 1939, and contains 56 gate,
and the purpose president to regulate water distribution between the provinces of Wasit and Dhi Qar and Maysan across the Shatt al-Gharraf River Dujailah who Atafraan of the provider of COPD.
Millionday: SO I FIND THAT VERY INTERESTING AND WITH OTHER NEWS WE HAVE ---THE TIMING IS AS WELL
CanTWaitwoRV: maybe in a dysfunctional way cbi/goi now see they can change the rate on a dime...that's quite a drop for the mkt rate to be at 1300 today
CanTWaitwoRV: almost like a "test" run
CanTWaitwoRV: I got my deenar goggles on of course minus all the political drama we know of going on
CanTWaitwoRV: and now this article on the currency
Comments may be made at the end of Part 2 Thank You