Millionday Roundtable 4/29/15 Part 1
Millionday: NOTE -- LAST NIGHT WE SAW A REPORT THAT THE WORLD BANK HAS SIGNED FOR THE LOAN TO IRAQ -- SO OFFICIAL AGREEMENT MADE
Millionday: MP for the Parliamentary Finance Committee Masood Haider, on Tuesday, the International Monetary Fund agreed to Iraq's request Baagheradh amount worth five billion dollars as part of the response to the financial crisis experienced by the country.
Millionday: NOTE -- THE IMF HAS ALSO SECURED THEIR AGREEMENT WITH IRAQ
Millionday: Said Haider's "Eye Iraq News" that Iraq has the right to apply to the International Fund request in accordance with the law of the budget financial loan,
pointing out that the government presented its request and received the fund approval and procedures are left to the Ministry of Finance and the IMF on the delivery amount.
Millionday: NOTE -- THIS IS PART OF THE BUDGET DUE TO IRAQ FINANCIAL POSITION AND DEVELOPMENT
Millionday: He said, that there is the benefit of the International Fund imposed on each loan granted shall be the interest rate according to the size of the amount borrowed.
Economic Adviser to the Prime Minister mention the appearance of Mohammed Saleh announced the approval of the International Monetary Fund to lend Iraq $ 800 million in government confirmed the existence of a future orientation to borrow from the IMF three billion dollars, noting it's simple and affordable benefits,
Millionday: SO THE BENEFIT OF TAKING ON THE DEBT THROUGH THE IMF IS THE LOW INTEREST RATE -- AND OBVIOUSLY THE ESTABLISHED RELATIONSHIP AND CONFIDENCE IN IRAQ IS ALSO NEWS IN ITSELF AT THIS POINT
allinxpress: MD, do you think its probable that we wake up one day and see the exchange rate $3 or over?
Millionday: I THINK THAT IT IS PROBABLE THAT WE WAKE UP WITH THE INTERNATIONAL RATES CALCULATED -- I DO NOT HAVE A CLUE OF WHAT THE RATE WILL BE HOWEVER
1glen: This amount of money will not last them very long will it? Thanks
MILLIONDAY: ACCORDING TO WHAT I HAVE READ THEY HAVE COMMITTED TO AN ONGOING RELATIONSHIP AND LOANS
Millionday: I DON'T THINK THAT AMOUNT IS MUCH EITHER BUT THEY WILL GET MORE IT SEEMS -- GOOD POINT
allinxpress Millionday: Maybe Iraq wont make as much $ from the RV as the dinar investors will?
wmawhite allinxpress: Iraq will not make money when they reprince their currency.
Millionday: IRAQ AND THE GOAL OF A MARKET ECONOMY AND THE MANY REFORMS WILL BE WHAT THEY GAIN FROM
Millionday: THE OPPORTUNITY TO DO BUSINESS WITH THE LOWEST PRICE GLOBALLY WILL IMPACT THE BUSINESS`S OVERHEAD
AND THEN AS WE KNOW THAT IMPACTS THE AVAILABLE FUNDS FOR THEM TO INVEST IN MORE PRODUCTS AND ALSO LABOR
Millionday: SO EACH BUSINESS WILL GAIN REVENUES FROM JUST THE FREEDOM TO DO BUSINESS GLOBALLY
Millionday: AND THEREFORE THE COUNTRY WILL GAIN -- THE MARKET EXPANDS -- AND THEY BECOME AN INVESTMENT OPPORTUNITY THEMSELVES
Millionday: GOOD POINT WMWHITE
Millionday: Rumors about the possible bankruptcy of the treasury Iraq is far from the Health Wednesday that the economic sources said
He said economic expert on Zuhair al-Rubaie told / Source News / that Iraq has a large cash reserve in addition to gold
He noted that the coming stage will witness a major breakthrough after widening to the size of the source of global markets Nfotna
Millionday: NOTE -- COMING UP WILL BE THE WITNESS OF A MAJOR BREAKTHROUGH FINANCIALLY FOR IRAQ -- WHOOOPOW
Millionday: NOTE >>>>>>> after widening to the size of the source of global markets<<<<<<<< WHOOOPOW
MILLONDAY: For his part, member of the Finance Committee in the Parliament Masood Haider said Iraqi oil exports on the rise, and that Iraq is moving towards exceeded its financial crisis
Haider said that Iraq sold during the third month, the last value of $ 3.7 billion of crude oil, as well as other financial resources, and Haider revealed that Iraqi cash reserve now stands at $ 60 billion in addition to the amounts of gold.
The prime minister Haider al-Abadi, had confirmed earlier that Iraq is not bankrupt state
mudder: Millionday: NOTE -- COMING UP WILL BE THE WITNESS OF A MAJOR BREAKTHROUGH FINANCIALLY FOR IRAQ -- WHOOOPOW... Just a joke....lol
Millionday: SO THE REPORTS OUT THERE STATING THAT IRAQ IS GOING TO CRASH ECONOMICALLY -- ARE NOT TRUE AND WHY?
allinxpress: Because they are LOADED lol
.VIP.clay: gold and reserves and crude
allinxpress: and natural gas, sulfur, minerals...
Millionday: BECAUSE THEY ARE GOING TO WITNESS A MAJOR BREAKTHROUGH AFTER ---- AFTER --- AFTER --- WIDENING TO THE SIZE OF THE SOURCE OF GLOBAL MARKETS ---
WHOOOPOW NOTHING LIKE GOOD NEWS
allinxpress: Do you agree that a gradual float in value makes more sense now?
Millionday: I DON'T KNOW HOW THEY WILL ENTER THE MARKET WITH THE DINAR BUT AS WE HAVE BEEN TOLD FROM THE IRAQI GOV –
AND ALSO HAVE SEEN WITH THE ORDERS GIVEN WITH THE DIRECTIVES -- THEY WILL DO THE INTERNATIONAL EQUATION FIRST TO ENTER THE MARKET
Millionday: THEY WILL HAVE TO CALCULATE THE DINAR VALUE FIRST AND THEN HOW IT IS IN THE MARKET WILL BE SEEN
wmawhite: Why would Iraq ever want the rest of the world to determine the value of its currency by floating it???? Answer:.....NEVER!!!!
Millionday: THERE ARE MORE WAYS TO PUT THE CURRENCY AS IT GAINS ---- NOT JUST FLOAT OR FIXED –
THE MARKET HAS MORE OPTIONS -- THE THING IS THIS ----- EITHER WAY (UNKNOWN TO MANY) -- CBI HAS THE POWER TO ADJUST THE RATE TO AVOID INFLATION
Millionday: THE CENTRAL BANK HAS THE RIGHT TO ADJUST THE RATE AND USE OTHER TOOLS TO MINIMIZE INFLATION -- IN FACT THAT IS THEIR JOB --
Millionday: I HAVE THAT IN INK
Millionday: DEFINITION of 'Floating Exchange Rate'
A country's exchange rate regime where its currency is set by the foreign-exchange market through supply and demand for that particular currency relative to other currencies.
Thus, floating exchange rates change freely and are determined by trading in the forex market. This is in contrast to a "fixed exchange rate" regime.
In some instances, if a currency value moves in any one direction at a rapid and sustained rate, central banks intervene by buying and selling its own currency reserves (i.e. Federal Reserve in the U.S.) in the foreign-exchange market in order to stabilize the local currency.
However, central banks are reluctant to intervene, unless absolutely necessary, in a floating regime.
Millionday: NOTE -- SO THE CURRENCY (DINAR) WAS NOT ON THE MARKET AND WAS NOT IMPACTED BY THE SUPPLY AND DEMAND (MARKET ECONOMY) BUT WE DID SEE THAT CBI USED THE SALE OF THE DINAR IN AUCTIONS TO MINIMIZE INFLATION TO HOLD THE CURRENCY IMPOSED RATE –
THAT PROVED THAT THEY KNOW HOW TO DO THEIR JOB OF CONTROL
Millionday: Baghdad parliamentary Finance Committee revealed, Wednesday, for her study project the universal use of the smart card in government departments.
The committee member said Haitham al-Jubouri's "Qurtas News" that "fictitious names that appeared in many of the ministries and government departments to employees do not exist and receive salaries as well for a way to pay the old staff salaries.
Millionday: NOTE -- THE REPORT THAT STATED THE SMART CARD HAD BEEN ISSUED WITH FAKE NAMES IS NOT ACCURATE
Millionday: Committee called on to put a project in collaboration with the government, which is relying on the smart card to pay employees' salaries. "
He Jubouri that "this project is under study and discussion within the Commission on how to use it and ways executing him," noting that "the project could be reflected positively on the work of the financial transactions of the Iraqi state.
Millionday: NOTE -- THE PROJECT OF THE SMART CARD BEING USED FOR GOVERNMENTAL PAYMENT IS >>>>FOR UNIVERSAL USE <<<<
Millionday: He Jubouri that "smart card will reveal the money you spend for employees in an expeditious manner and Amina size, as well as being a civilized state employee wherever he goes,
at any time it is possible to receive his salary in addition to the possibility of saving part of his money if he wants ".
Millionday: SO THIS IS A HUGE HUGE --- WHOOOOPOW
Millionday: THE DINAR WOULD HAVE TO BE INTERNATIONAL RECOGNIZED IN ORDER FOR THIS TO BE USED ---
Millionday: YOU MAY ASK WHY -- THE REASON IS THAT EVEN THOUGH IT IS --ON A CARD -- IT IS STILL FUNDED BY THE DINAR
Millionday: THIS IS JUST ANOTHER FORM OF TENDER -- SO HUGE AND VERY GOOD NEWS –
OBVIOUSLY THE PAY THEY ARE DEMANDING WILL BE PAY THAT IS GLOBALLY RECOGNIZED
Comments may be made at the end of Part 2 Thank You