Millionday Roundtable 4/30/14 Part 2
Welcome to Wednesday Afternoon Roundtable With Millionday!
snowflake59] I find it strange that we have all this hurry up.
[mrref1216] Iraq is hurry up and wait lol
[Smokey Mtn. Dinar] snowflake59 You know Iraq....they believe in Hurry Up and Wait! In fact, I think they invented it!
[mrref1216] Smokey Mtn beat you to it lol lol
[snowflake59] True statement, lol
[Florida Country Girl] No perfected it lol
[graylnjo] Let's just hope Maliki gets his head handed to him literaly!! :?
[Smokey Mtn. Dinar] mrref1216 lol I saw that!
[Smokey Mtn. Dinar] graylnjo I agree
[snowflake59] Maybe Maliki thinks that is his ace in the whole. Like BGG said
[feebslayer] afternoon all\
[Smokey Mtn. Dinar] feebslayer Hello
[millionday] i have something here that helps in how the 13303 makes sense due to its expiration
[Richard Incrocci] snowflake59 I am under the impression that Iraq is way beyond ready to enter the global market for goods, services and a recognizeable currency.
They are, IMO, tired of the shenanigans purported by Maliki and have been working on agreements, plans, and courses of action to engage in immediately after the conclusion of the elections.
They already know who, what, when and how they are going to do everything immediately following elections as well. The currency reform is at the top of that list, I believe.
It may not happen tomorrow, but I would imagine that they are not going to wait long to get it done. They are READY to be a global player and with Maliki out of the way, this will get fast tracked.
[Smokey Mtn. Dinar] Iraq must not want us to know what's going on so they are messing with our computers! :O
[millionday] here we go -- smile -- The State of Kuwait said here on Wednesday that the remaining compensations for damage resulting from the Iraqi aggression amount to USD 6.879 billion after having received USD 1.03 billion in January and USD 990 million in April.
This was announced by Khaled Ahmad Al Mudhaf, chairman of the board the public authority for assessment of compensation for damages resulting from the Iraqi aggression (PAAC), at the opening of the 77th Session of the UN Compensation Commission (UNCC).
[millionday] note -- the arrangements for Kuwait
[millionday] He said: "The State of Kuwait thanks the Governing Council and the UNCC Secretariat for the distribution, on 23 January 2014 of approximately 1.03 billion US Dollars; and 990 million US Dollars on 24 April 2014.
With these payments, approximately 6.879 billion US Dollars remain outstanding and we thank the Council for its continuing effort in maintaining the entity of the UNCC to ensure the quarterly payments until all the compensation is paid in full.
[Richard Incrocci] sweet
[mrref1216] So they still owe
[millionday] note -- as we see here the agreement is very good
[snowflake59] RichardI... thanks for you synopsis. It makes sense.
[Richard Incrocci] mrref1216 agreements are in place
[kimberly1] but they have an existing agreement for payment
[eaglesrest] I agree Richard.
[Richard Incrocci] snowflake59 YW. I hope I am correct
[millionday] He noted that Kuwait's sustained receipt of these payments depends on the continued replenishment of the Compensation Fund in accordance with relevant Security Council Resolutions.
He stressed the need for continuation of regular deposits in the Compensation Fund, as provided for in UN Security Council Resolution 1956, of 5 percent of the proceeds from all export sales of petroleum, petroleum products and natural gas of Iraq; as well as 5 percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas.
[millionday] note -- that is in the budget and the oil proceeds agreements and also the repayment agreements
[mrref1216] Sounds good
[lstar877] Does 13303 also mean no one outside iraq can invest in dinar anymore if its not international by may 22nd??
[millionday] here comes the best part
[Richard Incrocci] mrref1216 Look at this like you going on vacation. Up until now, you have been planning. Today you pack and tomorrow you leave for your destination. Iraq in same process, tomorrow they leave the tarmac
[mrref1216] Richard Incrocci yep
[millionday] In this regard, Kuwait would like to acknowledge the ongoing commitment of Iraq to fulfill its obligations, he said, emphasizing the importance of continuing to maintain a transparent mechanism to ensure that the amounts deposited into the Compensation Fund are accurate.
It is the sustained deposit of these funds in the Compensation Fund that will lead to the ultimate fulfillment of the Governing Council's mandate regarding full payment of the compensation that the Council has found to be due to the people of the State of Kuwait.
[millionday] note -- this is fantastic news -- with the agreements being trusted and also the respect given -- all a huge leap in where they were even as close as last year
[millionday] He added that the State of Kuwait has in different communications renewed and reiterated its commitment and readiness to discuss the issue under the auspices of the UNCC.
"We acknowledge the efforts of the UNCC and, in particular, that it stands ready to provide experts and technical assistance to help achieve real progress on this issue," he noted.
[millionday] He went on to say: "In the meantime, we would like to recall that guaranteeing payment of the outstanding amount to Kuwait is a responsibility of the Governing Council under its original mandate. Therefore, the UNCC should not relent in its efforts until the full amount is paid."
Having provided the political assurances to the Governing Council and having received the withheld funds under decision 258, the Government of the State of Kuwait, since receipt of the program, is moving with success and progress, Al Mudhaf said, adding that the State of Kuwait will submit its report in May 2014 as agreed with the Governing Council.
[millionday] so what this means is they are going to continue reporting each payment to let the UN know it has been made on time as agreed
[smiller67] I'm sorry....I can't really lurk much. They are cracking the whip. I just want to know... RV there yet?
[slh5282] Millionday, do you have an idea as to what the balance owed to Kuwait?
[millionday] wow you are at the right place -- that is the name of this club!! lol
[millionday] slh5282 yes -- just a sec
[smiller67] Oh thank you MD
[slh5282] I know they have been paying along but the balance should be close to being paid.
[millionday] "The State of Kuwait thanks the Governing Council and the UNCC Secretariat for the distribution, on 23 January 2014 of approximately 1.03 billion US Dollars; and 990 million US Dollars on 24 April 2014. With these payments, approximately 6.879 billion US Dollars remain outstanding
[millionday] so they are making the payments and all is well in the payment department --
[mrref1216] Pocket change for Iraq
[slh5282] OK thank you very much. They could pay that off with the left pocket amount
[slh5282] or the right
[millionday] absolutely not a problem and in comparison to what was owed -- this is great
[mrref1216] thats right they don't have pockets lol
[ten4god] I'm sorry if this redundant but do they have to have that debt paid in full before RV?
[millionday] brb with more
[slh5282] they have sacks LOL
[millionday] ten4god no - they have to have agreements made for debt and keep them brb with more
[mrref1216] MD would it benefit them if they had the debt paid off before the RV
[slh5282] I would say that we will see Maliki out of the country and in some place that will allow him to be safe by the end of the week
[Tex1] millionday Is the Kuwait money and the CBI RV money separate ?
[slh5282] especially if he looses
[Smokey Mtn. Dinar] Tex1 Yes. Iraq's currency and Kuwait's currency are two separate currencies. Like the USA and Canada.
[kimberly1] The Kuwait money is part of the budget and the CBI are completely separate
[millionday] here we go
[kenster] Not asking for a date or rate. Do ya'll think we will see the RV before the end of next week???
[Smokey Mtn. Dinar] kenster YES
[kenster] Me too
[slh5282] would be great if we did
[lstar877] NICE!!! I'M IN!!!
[kimberly1] They said they want to hit the floor running and can't run without it
[millionday] tex yes it is separate -- the reserves dont include the proceeds that are destined for repayment of debt
[mrref1216] MD would it benefit Iraq if they had their debt paid off before the RV??
[kimberly1] Need to have a reaity rate to do all the stuff they said they wanted to do
[Tex1] Smokey Mtn. Dinar It's The IQD that pays Kuwait and the RV Isn't it
jtank] 3 million homes to be built--
[millionday] This was sent to me>>>>>>>>>>>>>>>>>>>Said the newspaper "New York Times" today that "many American officials would welcome the defeat of Prime Minister Nuri al-Maliki in the elections.
She explained that the "ratings CIA believes that the re-election of al-Maliki may increase sectarian tensions and even raise the likelihood of civil war,
citing his failure to compromise with the Iraqi factions other - Sunni or Kurds - and the failures of the military has against Islamic extremists.
Also in the custody, accused the army Iraqi trained by the Americans of committing serious violations against activists and opponents of his government, including torture, arbitrary arrest and operations for the year claiming their rights and taking bribes for the release of detainees.
" The paper in its report that "al-Maliki has lost the support of references Shiite religious authorities in Najaf, the holy city in southern Iraq, who hold sway heavily on the Shiite majority in Iraq."
[slh5282] sounds like he needs to be packing a bag
Smokey Mtn. Dinar] kenster My daughter goes to school with 2 Iraqi students. She told me this morning that she ran in to them, and they told her NEXT WEEK! And they were VERY HAPPY!
millionday] ok so this is where we are -- the elections are over and now they are counting and parliament is to meet tomorrow --- the wait right now is where who what and when
millionday] so as we can guess just like anywhere -- everyone is waiting on results and we could sit all day and guess so now we wait for some type of update as to where this is going election wise