[millionday] this has a lot oF info in it >>>>>>>>>>>>>>>>>>>>>>>>>>>
[millionday] The central bank had announced the end of last week and the arrival of the country's reserves of hard currency to 88 billion U.S. dollars , after it was 80 billion dollars early October last year.
, In turn , said a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri in a press statement : "The increase in the balance of Iraq in the central bank is a pillar of the national currency in the international currency auctions , as fully covered by cash reserves of the country . "
Read More Link On Right
He said the Iraqi citizen has the ability to use the national currency in financial transactions outside the country , for the confidence of foreign banks that any issuance of cash Iraqis linked to a blanket of hard currency or gold .
[millionday] so as we see here -- their national currency is hard backed
[millionday] they are also talking here about next year being able to use the dinar outside of the country as in ----------exchange smile brb with more
[wmawhite] millionday .........IMF Article 8 maybe?????
[wilbur48] I was reading on one the the iraqi bank site that iraqis can open a bank account and use dinar and dollars
[Dianne777] wilbur48 ugh dont like the sound of that
[DocTaylor] If they are saying the citizen "has the ability to use the national currency in financial transactions outside the country" would that not be in the near future?
[DocTaylor] It appears they are talking the present to me. Am I missing something?
[millionday] and it is exchanged to dinar here we go with more no you are not missing anything hun
[millionday] they are talking present -- they are not using the usd for purchases - they are able to deposit usd thanks wilbur
[millionday] here we go -- now this is the problem they are discussing first
[DocTaylor] Then would the dinar not have to have real value?
[Domino] millionday When we have the space I'd like to have a discussion about the actual "on the street" impact of the "redenomination" you mentioned.
millionday] a redenomination is when the use 5, 10, 20 , instead of 25000 and 10000 because they have changed the prices to match it no gain no loss
[millionday] so here we go with the news i have the first part is what they are discussing
[millionday] *Economic expert said that the industry is facing the problem of wide openness of markets and dramatically and for different types of goods that are not subject to censorship and do not have the quality and the quality is not subject to customs duties remember.
Added d. Medhat al-Quraishi, the "morning" that about 90 percent of private industry projects stalled for financial reasons and technical useful that the industrial sector and semi-disabled factories operating in it operating on a quarter or a third of its production capacity.
[millionday] note -- it also stalled for the lack of competitive production other than what we do know as sanctions but they were stuck with the 90`s production capabilities
[millionday] He called for the need to protect local products from harmful business practices through the issuance of the necessary legislation as well as change the course of the policy of opening up to global markets, the movement towards encouraging foreign investment and facilitate the flow of modern technology.
[millionday] so once again the solution is to move to the global market and in a hurry -- love it
[lorijeanmarshall] Now if they can use the Dinar out of country next year, what does that mean for us?
[millionday] lorijeanmarshall nothing it means they can exchange theirs so they can travel etc - they can use it at the border to exchange when they arrive like we can in most all countries
[lorijeanmarshall] Does that affect us as far rate or cashing in time "Happy" time?
[millionday] very good news
[lorijeanmarshall] millionday Ohhhhhhhhhhhhhhhhhhhhhhh
[wmawhite] millionday .........IMF Article 8 maybe?????
[millionday] it would mean we have already exchanged when they can do this or if we race -- maybe at the same time smile
[lorijeanmarshall] millionday That's what I WANNA HEAR!!!! LOL
[tbob] millionday lol
[millionday] smile -- this is huge in what is happening
[millionday] now as you can imagine the stall in time does effect what it costs for them to get a particular industry up and rolling and at a competitive production rate
[millionday] so this is about that problem and it is a nice time to see this in their news
[millionday] Demanded economic expert on behalf of Jamil Antoine need to activate the petroleum industry , including manufacturing contribute to raising the level of financial resources of the country. Antoine said in an interview for the "morning" that the activation of these industries is the country of import some oil derivatives produced locally important ,
especially as the elements of the advancement of these industries are available. He pointed to the importance of Iraq to exceed stage import crude oil derivative and a source for him, pointing out that the activation of the manufacturing industry will contribute to creating jobs and absorb a large part of unemployment , pointing to the possibility of activating the role of the private sector in this area .
[millionday] He focused on addressing the problems and challenges facing Thus orientations with high transparency and proposed solutions in order to rotate the wheel of production within the country . Mentions that a lot of manufacturing products are imported from outside the country and the financial costs are great, especially the regional suppliers can produce these materials if available environment appropriate .
[millionday] so as we see -- they need the capabilities within the country to advance their technology because it would save in costs -- now this may effect prices because of the price to import their needs -- however it also creates jobs and opportunity that there already is a demand for --- so huge market for those educated in these fields -- brb with more
[millionday] and this also means they are preparing to export their products and enter the market if they are even discussing this
[millionday] Foreign Minister, Hoshyar Zebari, discussed with the US Assistant Secretary of Defense for International Security Affairs, Derek Chollet, and Deputy Assistant Secretary of Defense for Middle East Policy, Matthew Spence, the relations between Iraq and the US, as well as security and military cooperation.
A statement issued on Saturday, Dec. 7, by Ministry of Foreign Affairs, said that in the meeting, discussion covered security and military cooperation between the two countries; pointing out that Zebari explained Iraq’s views toward current regional issues.
[millionday] smile >>>>>>>>>>>>>>>>>>>>>>>>The statement went on saying that Zebari discussed also with Senator Tim Kaine political and security developments in Iraq and the area, as well as developments of economic, commercial and armament relations between Iraq and the US.
[millionday] strategic framework agreement
[lorijeanmarshall] millionday If they are going to be exporting and importing, does the WTO come into any of this?
[millionday] when they join as an active member it will expose them to many trade opportunities
[Domino] lorijeanmarshall My questions was exactly that - Per WTO to be able to participate in world trade there are certain things they must agree to (Art. 8 for example) which requires a tradable proprietary currency.
[millionday] Iraq wants to be a member of the wto due to the many trade agreements and the money to be made when trying to develop a war torn country ---- we follow it due to the needs and how they are similar due to the preparations they are making --- clues
millionday] here we go this is what is going on with the federal council
millionday] With a view to the completion of the structure of the federal legislative authority and the consecration of the construction of federal institutions and protect the interests of the regions and provinces and addressing a constitutional vacuum ,
is seeking the House of Representatives to approve the law of the Federation Council next month , according to a source in the Committee of the Regions parliamentary .
Member of the Committee of the Regions Mehdi Haji said there are many points of disagreement on the Law Council Union despite reading the first reading and the second inside the dome of the parliament , noting that discussions about it are still continuing .
[millionday] . said Haji »Sabah » : The « of the most prominent observations on this law he made quickly and still need to talk , because the Constitution requires us to accomplish this law during the current parliamentary session , and the Federation Council have legislative authority next to the House of Representatives during the last legislative term » .
[millionday] According to the source »Sabah » , the « most prominent differences revolve on « determine the number of members from each province , as the law went on to be the number is four without specifying the mechanism of their choice whether it is by the province or by the provincial council and whether the appointment or selection ,
as well as the existence of a dispute over the regions and how to represent them because the law did not specify that , in addition to determining the proportion of women in this council, which was not prescribed by law must be 25 percent » . featuring the Federation Council representatives from the regions and governorates that are not organized in a region and
[millionday] note -- it has been read twice and is now ready for vote when agreement is reached
millionday] regulates the composition, membership conditions , and its terms of reference , and all that it involves law enacted by a majority of two-thirds of the members of parliament , according to the permanent constitution , and is a two Houses federal legislative authority in accordance with Article (48) Title III Chapter I of the Constitution , which states : « consists federal legislative authority of the Parliament and the Council of the Union » .
The source noted the existence of differences on « identify joint sessions between the House of Representatives and the Federation Council and the mechanism session , and
millionday] the powers of the Council did not set yet , you will be more than the House of Representatives or lower it and how to submit it , and the legislation of laws , ie, what is the exclusive powers of the Federation Council so be synonymous with the House of Representatives ? » .
However, he confirmed the existence of the meetings of the Shura Council members and legislators to this law in order to benefit from the experiences of other countries , as well as many dialogues will be held in order to get out of the final form of this law .
millionday] note -- meaning that this will be ongoing as far as change goes and to set it now for the phase of reform is in their best interest
[millionday] this part explains the whole purpose and the importance to this law --- some think it has to be in place to revalue or set a reality rate in the country
[millionday] here we go
[millionday] He is scheduled to respect the Federation Council , including the following : First, provide ideas and projects relating to the rights and governorates not organized in a region , to the House of Representatives for the proposals formulated in laws .
Second, consider the laws and resolutions approved by the House of Representatives referred to it . Third: approval by an absolute majority of the members of the Council on the appointment of the Chairman and members of the Federal Court of Cassation , the Chief Public Prosecutor , and the President of Judicial Oversight Commission , on the proposal of the Supreme Judicial Council .
[millionday] IV : The Quest for the settlement of disputes that arise between provinces , or between them and governorates not organized in a region or between provinces .
Fifth: monitoring to ensure the rights of the regions and governorates that are not organized in a region in the fair participation in the administration of the various federal state institutions . Sixth: The control acts Authority to monitor the allocations of federal revenue allocation of federal revenues .
[millionday] The candidate for membership of the Union , what is required in a candidate for membership of the House of Representatives , in addition to being one of the inhabitants of the province, which is represented by , and must have been completed thirty years of age.
As the duration of the session of the Union of four calendar years commencing from the date of the first session and ending by the end of the session of the fourth year .
In accordance with the bill, the Board may session of the annual two legislative standing eight months determines the rules of procedure shall be held , as it must make decisions in the Council by a simple majority of the members present
[millionday] , after a quorum is achieved , unless stated otherwise . Provides project also « A member of the Federation Council , the rights and privileges enjoyed by a member of the House of Representatives .
Second: - A member of the Federation Council immunity enjoyed by a member of the House of Representatives , and set forth in paragraph (ii) of item ( a) and ( b) and ( c) of Article (63) of the Constitution .
[millionday] ok so as we see -- they are working on its placement
[millionday] many believe that it has to be placed for the currency --- i think they are being worked on at the same time and that the economic reform will come when it is ready now ---- without anymore in its way
[millionday] i also believe that they are going to be in a hurry to put in place their fed council ---- the federal court system is in place -- so we shall see i will brb with more smile
[millionday] note >>>>>>>>>>>>In the presence of His Excellency the Minister of Transport Mr. Hadi al-Ameri opened the General Establishment of Civil Aviation Airports Exhibition Hall on Iraq Nineveh at Baghdad International Airport Wednesday morning, 04/12/2013, and the presence of many public figures
millionday] note -- there are many meetings with Ambassadors of many countries and the leaders in Iraq -- one right after the other -- interesting little tidbit i noticed today while researching
[millionday] let me make sure i didnt miss anything we are so loaded tonight
[millionday] ok so that is what we have tonight