aggiedad77 » June 15th, 2015, 9:59 am
Monday News Summaries and Commentaries
Commission criticizes the economy "failure" of the Central Bank in dealing with the high dollar exchange rate
I CHALLENGE THE PARLIAMENT TO LIFT ARTICLE 50 FOR A MONTH AND SEE WHAT HAPPENS TO THE EXCHANGE RATE BETWEEN THE DOLLAR AND IQD!!!!
Everyone wants to point fingers at the CBI for this problem over the past 6 months....but this problem stemmed from the passing of Article 50 in the 2015 budget....
IMO.....this is another Maliki crowing this morning in Baghdad....just how well can he be trusted.....sorry to create havoc by name association....but....will just leave it at that. The CBI again IMO....is not responsible for what the black market is doing to the exchange rate.
Expert: 5 reasons led to the rise in the dollar exchange rate
REASON NUMBER ONE: Article 50....nuff said.....this is called a SUPPLY and DEMAND issue....it was created by the limitations placed on the CBI by the Finance Committee...point the blame for this problem at the Finance Committee....I'm starting to turn blue in the face over this....listen up Iraq.
In the parliamentary economy by calling for the formation of a security department to curb smuggling and raise the dollar prices
Exchange rate manipulation....occurring "outside" the CBI....associated with the street market...the black market....the currency mafia....whatever you want to call it.....it's not the CBI's doing.....if I had to choose an issue....dishonest CBI.....dishonest politicians.....I would go with the second choice each and every time.....
I do think a security department set up in the right way could be helpful....but what someone needs to study....a group or committee external to the Parliament is the issues behind Article 50....and even why it came about in the first place.....they had to know the ramifications that would be associated with such a measure.
Chalabi proposes to exchange half of the employees' salaries in dollars
Now this is certainly an interesting twist on things....the head of the Finance Committee proposing to pay employees in USD....half their salary....claiming this will have a positive impact on the market....serving the exchange rate and citizens he says.....hmmmm......sorry but I am suspecting something else from this rat in the committee.
The launch of 800 billion dinars from the budget in 2015 for the ministries and provinces
According to the Economy and Investment Committee is saying that 800 billion dinars will hit the streets headed to local provinces and ministries to be used as debt repayment along with other things....this is apparently a planned part of the budget.
The financial crisis prevented the government from firing 80% of the allocation of ministries and local governments
Federal Court is freezing all appeals regarding the 2015 budget until further notice.....apparently to give them time to study what has already been presented....I presume this includes a challenge to the Article 50 that was done back in the spring....meanwhile the Finance Committee is pointing fingers at everyone and actually filing suit against the COM for their lack of pushing the full budget out....but at the same time it appears the Fin Comm didn't follow proper protocol in putting Article 50 and maybe some other articles into the budget.
Negotiations between the Iraqi government delegation and international banks for the issuance of sovereign bonds
Powerful delegation is off to Turkey to talk with Citibank, Chase and Deutsche Banks for the purpose of issuance of sovereign bonds.....and to obtain a favorable credit rating for the release of said bonds on the international market.
The theft of 800 million dinars on the road to Arbil, Kirkuk by unknown gunmen
Gunmen pulled over a vehicle traveling between Kirkuk and Erbil carrying 800 million dinars and took the cash releasing the vehicle afterwards.
Central Bank current problems as a result of the loss of independence
HEADS UP....I am going to cover this article in a separate post shortly after I post the news summaries.
Disclosure to approve Ghaidan confirming that al-Maliki ordered them to withdraw from Mosul
From what the Integrity Committee is hearing regarding the fall of Mosul....they appear to be getting an earful that indicates the pull back or full scale retreat of the Iraq Army was ordered by none other than PM Maliki at the time.....it sounds like the Committee will be expecting to have Maliki and others sit before them to answer questions in the future....hopefully the near future.
I'm going to call a break here....there is more talk about tariffs dating back to 2010....but you can talk all day long on tariffs if you like...the bottom line is that tariffs are not being collected no matter what some thing may have been in place....thank Maliki and his thugs for that.....total deception on their part....
I believe many are attempting to try and cloud the real work of PM Abadi's government, some in high places still for whatever reason wish to see him fail....highest of those of course is Maliki who continues with his nightmare dream that he will once again rise in power....
When pigs fly I say. Aloha Randy