Millionday news 5/20/14 Part 1
Welcome To Tuesday Night News Time With Millionday!
millionday] ok here we go -- now look at how contradictory this is
[millionday] The Ministry of Finance all measures to protect Iraqi funds with the approach of lifting the immunity of the U.S. for, among carried the House of Representatives responsible for the negative effects of the delay in approving the budget at the grassroots level and at the state level in general,
indicated to conduct negotiations with Iran for the consolidation of economic and financial relations after the rise in the volume of trade with more than 12 billion dollars last year.
millionday] The finance minister said the agency, Dr. purity of net debt in an interview for the "morning" to lift the immunity of the U.S. for Iraqi funds deposited in the Development Fund for Iraq will be after tomorrow, Thursday Accordingly,
the ministry has taken all measures to protect the money from creditors described more claims without accurate, expressing fear of the occurrence of reservation of funds that have been achieved if the filed requires time, stressing that Iraq is sure that a lot of disputes is questionable
millionday] note -- this was reported today that all protection will be lifted from the US and that it still will be on the 22nd of this month according to this
[millionday] He added that the real debt owed by Iraq should be settled on the basis of the Paris Club agreement, which obliges states to turn off 80 percent of the debt owed by Iraq and the remaining 20 percent are settled for over 20 years, or to pay all at once.’
He said the net that some nations to their own circumstances do not want to compromise on the basis of the Paris Club agreement while Iraq is able to adopt this approach because it would make him in violation of the agreement will engender serious damage and it is currently being negotiated with such countries as Brazil, Morocco, Egypt, Pakistan and some African countries,
noting that negotiations taking place with the help of the World Bank and some countries that intervene in support of Iraq and urges creditor countries on the settlement in accordance with the Paris Club by giving these countries 20 percent of the debt is waived 80 percent.
He disclosed that the recent visit to Washington saw the dialogues between financial advisers and auditors Iraqis with their international counterparts to develop a settlement,
noting that a delegation from the ministry would soon travel to Brazil to negotiate a debt he believed Iraq to succeed access to international support on the subject of debt settlement.
[millionday] note -- they are still negotiating debt settlement as if the protection is ending on the 22nd of this month so very different than some reports coming out of some sources
millionday] note -- according to this --- they do not want to wait because of the investment agreements made and the progress they have made -- very interesting to say the least
[millionday] He explained that some of the commercial debt owed by Iraq over them for more than 20 years and hence the payment of legal about it in the interest of the country, especially that most there are no documents or documents confirming indebtedness and will be ready to defend our interests,
noting that the legal protection mechanisms stomach by Iraq underscores not enable creditors to put booking money taken these mechanisms as well,
adding that "Iraq is committed to meet the entitlements and the debt owed it to all creditors in order not to lose credibility in front of the international community and international companies."
[millionday] now if we see that they dont want to lose creditability in front of international expectations -- they have more to gain by keeping these agreements
[millionday] i am going to end that part of this report -- the rest goes on to say how much they need the budget and also the international trade expansion
[kenster] Does it seem like they do not want O to interfere with them moving forward? O is as bad as M.
millionday] I dont know about Obama being a problem but i do see that they want to move forward as they have planned according to this so this is very positive news
millionday] huge news that they want to move forward as they have planned
[radronin] can they forego Obama's extension of EO 13303??
millionday] radronin they can move the money they have control over -- Iraq has control of their own funds even though the US has told them as long as they are under UN article 6 etc they will protect them -- Iraq has the right to protect and pay their debt
radronin] Wow, this sounds like progress & the need for the budget & the RV!! TY MD
[OOTW] 1) why at whitehouse.gov does it say that obama signed the EO? 2) for six months they've been saying there are 9b dollars in the dfi then yesterday from najib there was an article stating that there are 180b dollars in US accounts for Iraq - and a second article stated that Iraq paid 500m for the US to protect Iraq's money
millionday] OOTW yes the report states that they have paid the US 500 million in fees for that protection and the US does state that they have signed an agreement to protect the funds but with the protection running out it could mean they dont want the protection or that they are moving from chapter 6 or that they have moved the funds to somewhere else -- however it says that they are not leaving the funds in the US for protection in this report
[OOTW] http://khabaar.net/index ··· 784.html
[jarhead] I thought they were in chpt 7
[millionday] radronin they can forego the extension and not take advantage of the option -- it is their money and they have control over it so they can choose as far as what i have found in the agreements
[OOTW] okay so based on this do you think that we have a good chance of seeing the economic reform laws going for a vote, because at the worst case scenario M becomes PM again and THERE IS a power sharing govt where nothing gets done
millionday] jarhead no they are not in chapter 7 they are in chapter 6
[OOTW] I'm done with playing devils advocate now
[coolspot] It just does not deal with money, but security? Maybe we are pressuring them to address their security issues
[jarhead] Tks mc I'm sorry I wasn't in order
[radronin] Good questions OOTW
[OOTW] do you think the US is bankrupt and cannot give Iraq back their money, because we couldn't pay Germany their 300 tonnes of gold?
[millionday] OOTW the investment laws -- i think all 22 were voted through months ago if i am correct and the CBI has control in setting the value and also the international exchange rates ---
[millionday] coolspot the security of the country is not a US issue -- it is a UN issue and also the country of Iraq issue --- however the oil proceeds can not be taken and held without Iraq wanting it to be -- it is up to them
[OOTW] the economic reform laws include trade, the banking act art 28, implementing tariff law and indebtedness law...you're saying the cbi has control over all of these, and art 27?
[OOTW] doesn't art 27 have to be changed (free market economy voted in)?
[jtank] what is chap 7 about then?
[millionday] i am saying that CBI has control over the value and the international rates -- it is their job --- i have not seen that these laws have not been addressed ---- however -- CBI can place the value and also the exchange rates
millionday] remember the sfa with other countries other than our own
[millionday] i knew all of you would be shocked by that one
radronin] Every one needs to absorb this article & the possibility of the reality rate to come!
[millionday] there was a meeting with all finance ministers and the 22nd will tell us if the media has it right or if they are moving faster than what we have seen -- remember that is a possibility
millionday] know that behind the scenes could be where this came from and the action it brings will tell us -- i personally cant wait to see if the protection remains or if the funds are transferred
[millionday] also remember years ago there was a contract signed with the US and with China by Iraq that they would hold the funds and also the price of oil would be low -- (32) -- etc --- i remember seeing it but of course it may have changed
[millionday] brb with more -- have to say the next few days will be interesting to say the least
[kenster] With what was brought in last night about the formation of the new government. Do you think with their emergency meetings they can form it in 15 days?
[millionday] yes i do think they can at the speed they are going --
[millionday] here we go -- this was sent to me
[millionday] The most attractive stock markets macro economically and technically in terms of valuation is probably Vietnam and Iraq, which as an economy is not problem-free but it will grow; the valuations are extremely low. So, these two markets will perform reasonably well.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
millionday] very interesting to say the least !! thanks hun brb with more smile
millionday] UN Secretary-General of the UN Ban Ki-moon, on Tuesday, Iraqi politicians to speed up the formation of the new government and engaging, expressing his aspiration to ratify the final results after the completion of all the procedures, including the disposition of appeals possible, while expressing concern over the security situation in Anbar province. said Moon in a statement received "tomorrow Press", said "We welcome the declaration of the results of the elections of the House of Representatives in Iraq, which was held in the 30th of April,"
expressing his aspiration to "ratify the final results after the completion of all the procedures, including the chapter in appeals possible. " Secretary-General urged all political parties to
millionday] "engage in a constructive and timely manner in the process of forming a government," expressing concern "over the security situation in Anbar province." ‘
and demanded moon Government of Iraq to "ensure compliance with the obligations of Iraq's international and constitutional concerning human rights in its military operations against terrorism, "owe" the deliberate use of the flood water to flood the area of Abu Ghraib. "
and called on Ban Ki-moon "on all parties to refrain from actions that would lead to the displacement of people or cause an environmental disaster," and urged "the need to meet the needs of Hundreds of thousands of people affected by the fighting in Anbar.
" The province of Anbar its city of Ramadi 0.110 km west of the capital Baghdad, undergoing large-scale military carried out by the Iraqi security forces with the help of the tribes against the armed groups, especially after an attempt to "Daash" uncontrollable after Security forces arrest MP Ahmed al-Alwani and his brother was killed.
millionday] so we have Moon asking or pushing we should say to get the gov formed in a hurry and not to -- FLOOD? the area of security concern -- wow -- i would hope not -- that is a huge desperate way to deal with problems i would say
[millionday] so Moon is asking for many things and has something to say about iraq everyday and that in itself is news in my opinion brb with more
[coolspot] So security is a serious issue!
[millionday] security will be an iraqi concern as long as time --- there are curfews and also they are paying very close attention to the borders as well -- ports etc
[millionday] oh yes it is a serious issue but they have shown huge leaps with democracy with this election and also with the control of the many threats on parliament figures and of course the laws put in place and the court systems they have put in place have made many very happy