Millionday Roundtable 6/25/14 Part 1
Welcome To Wednesday Roundtable With Millionday!
[millionday] Secretary General Ban Ki-moon Tuesday said UN encourages Iraq to continue to pay five percent of its oil and gas revenues to UN Compensation Fund despite recent dispute resulting from Kurdistan Regional Government selling oil without Baghdad's consent.
In his sixth six-month report to the Security Council, Ban said the Governing Council of the Geneva-based UN Compensation Commission held an informal meeting on June 12 to discuss the export sales of oil out of the Kurdistan region without the consent of the Iraqi Government and their implications.
[millionday] "Noting that Iraq is nearing the conclusion of the fulfillment of its obligations, with outstanding compensation projected to be paid in full in 2015, the Governing Council encourages the Government of Iraq and the Kurdistan Regional Government to work together to ensure that Iraq continues to deposit five percent of all (oil and gas) export sales ... into the Compensation Fund," as required by Council relevant resolutions, Ban said.
[millionday] note -- he is asking that they at least keep up with obligations from oil sales
[millionday] He added that his Special Representative for Iraq Nickolay Mladenov "will continue efforts to facilitate a prompt resolution of this matter."
Ban noted in his report that the Iraq Committee of Financial Experts (COFE) reiterated to the Compensation Commission secretariat during a meeting last February Baghdad's commitment to comply with the UN relevant resolutions.
He said that since his latest report in December, the Compensation Commission made two payments to Kuwait totaling USD 2.02 billion: the first on 23 January 2014 and the second on 24 April 2014,
recalling that the overall amount of compensation paid to date by the Commission is USD 45.5 billion, leaving approximately USD 6.9 billion outstanding to be paid to Kuwait in 2015 to settle the last remaining claim
[millionday] Based on current levels of income accumulated in the Compensation Fund, Ban expressed satisfaction that Baghdad "remains committed to complying with its obligations" under relevant Council resolutions. The Fund was created to compensate Governments, entities and individuals who suffered losses during the Iraqi invasion of Kuwait in 199
[millionday] exactly -- Moon is telling them that they need to at least keep all arrangements they have made for the repay of funds owed --
[ernier] if they have been paying all along, then this is some sort of signal isn't it? Otherwise, why the need to even mention it?
[millionday] in the very least that is important with the help they are asking for at least with the country payments -- we want the fund to start dispersing as well -- that would be done with all citizens there and abroad -- so electronic
[millionday] yes they have been putting in account - right exactly
[Rdy] new pm named?
[millionday] by the july 1st date -- unless i find something on it brb with more
[millionday] condemned by Reporters Without Borders, based in Paris, the actions taken by the Iraqi authorities in recent times, close the channels of an Iraqi in Egypt tight noose increasingly on local media.
statement said the organization has received the Agency (news): It ' After two weeks on the raid carried out by police in Amman on June 9 \ June 2014, targeted channel Abbasid Iraq's known opposition to Prime Minister Nuri al-Maliki, returned the Baghdad government to exercise the same method,
but in Egypt this time. ' statement added that he 'Day June 18 \ June 2014, Egyptian authorities announced the closure channels of Baghdad, Iraq, and event broadcast from Egypt by satellite Nilesa
[hstrymknwmn] millionday is that similar to closing borders?
[millionday] note -- they are upset with Iraq taking down some media broadcasts
hstrymknwmn] oh ok it's little confusing
[millionday] i also had heard on our news however that social media is down there as well
[hstrymknwmn] channels I was thinking water lol
[millionday] i have not seen it in ink yet from other sources lol
[millionday] The decision comes against the backdrop of a complaint brought by the Iraqi Ministry of Communications to the Egyptian Media Production City, which hosts the headquarters of Baghdad and Iraq in the region free media, accusing the channel publishing information prejudicial to the security forces and the Iraqi national unity.
' and continued: In the June 16 \ June 2014, stormed members of the Iraqi security forces - in civilian clothes and without a warrant - Baghdad headquarters in Baghdad, where they destroyed some property and stole some equipment and violently attacked guards channel. In testimony, a security source for the television station, it may be Deputy Interior Minister Adnan al-Asadi is behind this operation.
[millionday] this does not mean he is in the operating room lol sorry ink is confusing though sometimes
[millionday] so what we are seeing is they are monitoring television stations and the media
[dovi] hope we don't lose all news access from inside
[graylnjo] What happened with M being replaced with this other fellow? That didn't last long!!
[millionday] the new parliament is to sit on july 1st and vote right away all leaders in a one time vote -- all together
[angus] millionday so then how do we know if what we are getting through these articles are true?
[millionday] they are referring to Egypt here
[Smokey Mtn. Dinar] I thought they were to be seated either yesterday (the 24th) or June 30?
[ten4god] Does that include pm
[millionday] me too -- they said the 24th or the 30th but last night said the july 1st date
[millionday] i think it will be the 30th but we shall see
[Rdy] was the new pm not named today?
[millionday] it will be our 30th -- they may have chosen by national alliance but not placed yet named maybe still looking
[10x] In our blog, Mahdi
[Smokey Mtn. Dinar] What is Mahdi? I have been seeing this word a lot the last few days?
[jtank] poss. pm
[Rdy] he is the nominated pm to replace m
[Smokey Mtn. Dinar] Oh, OK. Thanks
[10x] National candidate for PM
[star] http://www.albaghdad...I ··· Kn.html/
[slh5282] How do we know that Mahdi is not going to be another Maliki?
[Rdy] supposedly he hates m and everything about him so heres hoping
[graylnjo] BGG says he is rather moderate
OOTW] i just heard mladenov state that the first session of parliament will be july 1, but in no way at that time will the new govt be seated
[Smokey Mtn. Dinar] slh5282 Agreed! Especially since he hasn't been in our news.
[disciple7] probably cause our news hasnt heard of him yet lol
[Smokey Mtn. Dinar] OOTW Hopefully that statement is just "Smoke and Mirrors"
millionday] here is cbi -- ] i like the way they present everything
[millionday] aid the Iraqi Central Bank, on Thursday, that the security situation in the country "will not greatly affect the Iraqi dinar," and attributed the cause to "the power of the Iraqi dinar and the precautions that supported",
as noted financial expert said Iqbal Iraqi citizen to store foreign currency would be "temporary", pointed out that the Iraqi economy because the governor to balance the dinar per covered 1.3% of one U.S. dollar a "one and a third."
[millionday] The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki said in an interview (range Press), "The task of the Iraqi Central Bank, according to its law is to keep the dinar stable against other currencies,"
noting that "the bank's management studied and researched the course of the security situation of the country's and its impacts on the financial situation in the country. "
The Turkish that "what exists of a reserve of hard currency to the Central Bank will be capable of controlling the exchange rate of the dinar against the dollar," he said,
adding that "cash reserves in support of the Iraqi dinar is 70 billion dollars and that the central bank is able to support the exchange rate of the dinar, which currently stands at 1200 dinars to the dollar, so there is no fear on the dinar at the moment. "
[wheresmyrv?] Huge news by Turki!
[lstar877] Oh wow thats a rate
[millionday] note -- so CBI is not going to allow the security issues to change anything that they have planned for the dinar and are continuing with their job very huge
millionday] For his part, said the financial expert Mazen al-Khafaji, said in an interview to the (long-Presse), said that "there is a slight rise too in the exchange rate of the dinar against the dollar because of the Iraqi citizen and nature in such things such resort to the storage savings is the most fitting what stores have the foreign currency for the purpose of assist him in case something happened in the country, ]
"adding that it would be temporary and can not last for a long time because of the nature of Iraq's financial dealings."
He said al-Khafaji, he was "following the increase in demand for the dollar there will be a rise in the exchange rate of the dollar against the dinar, and here comes the role of the central bank, which will try to work on widening the sale of dollars in the currency auction has in order not to exploit the current situation and the rise of the dollar against the dinar."
[jtank] theyll use usd
[millionday] they are saying that they are moving forward for certain and the problems with isis is not going to affect anything they have planned -- love it
[millionday] no they wont be using usd they will be using dinar and so will the kurds in the stock exchange as well
[mrref1216] love it too they are focused YEA
[millionday] lets look at this last bit of this
[graylnjo] MD........ is there a rate suggestion in there somewhere??
[millionday] The al-Khafaji said that "there are other things possible to maintain the Iraqi dinar and the economy in general in these circumstances, Kahtiatat Central Bank and the export of Iraqi oil."
He said al-Khafaji, that "the dinar is covered, according to central bank reserves at 1.3% ie, that the Iraqi dinar, an indoor one and a third of the dollar as well as that Iraq is the export of oil, which would be the southern regions of safe and so would be an abundance of the dinar against the dollar existed during operations to sell oil on the world market ".
[millionday] note -- they are saying just their reserves alone are 1.3 % against the dollar without the oil ect
[millionday] And witnessing the Iraqi market a remarkable increase prices of goods and food since the first day of the fall of the city of Mosul, however, the terrorist organizations,
which called for most citizens to turn to buy some basic food items to be stored for fear of depletion of the markets as well as to store a number of payments in hard currency (dollar).