Poppy3 there are laws that need passing but according to CBI the one's pending to be put is action as law don't effect the CBI giving the green light to turn the new RATE LOOSE.
ABADI'S GOI NEEDS CASH FLOW DESPERATELY, HE HAS MADE THAT VERY CLEAR AND THE NEW RATE IS THE ONLY WAY LEFT TO PROVIDE THOSE FUNDS.
WE ARE LOOKING VERY GOOD AT THIS POINT.
EXOGEN March 25, 2015 at 3:21pm
Canada Weighs Joining China-Led Bank Amid U.S., Japan Concerns
Don't Miss Out --
(Bloomberg) -- Canada is considering joining China’s planned infrastructure bank, a move that would leave the U.S. and Japan as the only Group of Seven holdouts as they continue to question the institution’s governance and environmental safeguards.
China has given countries until March 31 to sign up as founding members of the Asian Infrastructure Investment Bank. The U.K., France, Germany and Italy said this month they would seek to join, creating unease among U.S. and Japanese officials
The infrastructure bank’s growing membership is a sign of China’s increasing clout in international economic policy even as its expansion cools. At stake is a potential weakening of the influence of the Washington-based World Bank and the Manila-based Asian Development Bank, where Japan has held the presidency since the lender was founded in 1966.
While Canada will be reluctant to undermine ties with the U.S., its biggest trading partner, the fact that European countries have already “broken the ice” would make it easier for Canada to join China’s bank, said Domenico Lombardi, director of the global economy program at the Center for International Governance Innovation in Waterloo, Ontario.
[xyz] Abadi announce hour "victory" in Tikrit http://translate.google.com/translate?act=url&depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3654071
Frank26: WS…Looking for info on Kurds 2nd and 3rd payment they got yesterday:
1st was 250bn……2nd was 490bn
They are pd in full at 710 bn
Alan :Here is a good article on how bonds work.
Walkingstick: Today .. Kurdistan distributed January salaries to the staff of the region
Arbil / JD / .. Ministry of Finance announced in the Kurdistan Region for the distribution of January salaries to the staff of the region on Tuesday, after the arrival of the amount of 490 billion dinars to the treasury ministry of Baghdad.
A spokesman for the Ministry of Finance in the province of Kurdistan Ahmed Abdul Rahman in the deployment of the Patriotic Union of Kurdistan site permit, seen by Agency / BD /: that the $ 490 billion dinars, arrived yesterday to Arbil as part of the Kurdistan Region's share of the financial budget.
He added: It is hoped that the ministry proceed regardless salaries of employees in the province of Kurdistan to 1 month of the year on Tuesday, the distribution of employees of the Ministry of the Interior salaries and national security in the province of Kurdistan, and continue paying salaries to other ministries, according to payroll for the month 1 of the current year. / End / 22 /
The federal government paid 250 billion dinars to the Kurdistan region for the salaries of its staff
Tomorrow Press / Baghdad: detection of the Kurdistan Alliance, on Wednesday, the federal government will pay during the next two days the amount of 250 billion dinars for the salaries of the staff of the region, stressing that there is an intention to expand Anbnob oil carrier that contains 550 thousand barrels per day.
He said coalition member Majid Alchenkala for "tomorrow's Press," that "there is goodwill between the federal government and the Kurdistan region of Iraq to resolve all the problems facing the oil agreement between the parties."
He stressed that "the Baghdad government to send money through the next 48 hours up to 250 billion dinars as part of the oil agreement obligations."
Alchenkala added that "the ongoing efforts to resolve all disputes between the parties," stressing that "the two parties are committed to the terms of the oil agreement between Kurdistan and Baghdad". "
He said that "what is being said about this agreement is going to block the advance of the Government of Haider al-Abadi in building strong relationships with Kurdistan."
He explained that "there are technical problems prevent Kurdistan from the export of 550 000 barrels a day because of a lack of pipeline oil carrier capacity to Turkey," explaining that "this problem will be overcome through the expansion of the pipeline or edit the areas through which the pipeline that runs from Kirkuk to Ceyhan Turkish ". LINK
Iraqi Kurdish region gets delayed budget payment from Baghdad
BAGHDAD Thu Mar 19, 2015 8:13pm GMT
CREDIT: REUTERS/KHALID AL-MOUSILY
(Reuters) - Iraq's Kurdistan region received a $420 million budget payment from Baghdad on Thursday, a long-awaited transfer of funds that puts a bilateral oil export agreement back on track.
"It means both sides are committed to adhering to the deal," Iraqi Finance Minister Hoshiyar Zebari told Reuters, confirming the payment.
Baghdad cut budget payments to the Kurds in January 2014 over the semi-autonomous region's oil policies.
They were reinstated in December after the Kurds agreed to export an average of 550,000 barrels per day (bpd) from Ceyhan via Iraq's State Oil Marketing Organisation (SOMO) in 2015.
The agreement was hailed as a breakthrough that would help Iraq increase oil exports at a time when revenues are strained by low global prices and the cost of financing a war against Islamic State insurgents in the north and west.
The Kurds were promised 17 percent from this year's $105 billion national budget, which averages out to a monthly payment of $1 billion.
But the payment was missed in February, causing tensions to rise amid difficulties for both sides, according to Zebari.
The central government has severe cash flow problems, burdened by low oil prices and the war it is waging against Islamic State militants across northern and western Iraq.
The Kurds have struggled to reach the export target of 550,000 barrels per day from their own fields and from national fields in Kirkuk that they are now responsible for exporting from.
"There are different expectations from both sides," Zebari told Reuters. He added that the oil exports from the north were now increasing steadily and had reached over 300,000 bpd.
He said both sides would meet their targets for budget payments and oil exports by the end of the year, while figures could vary from month to month. He added Baghdad was expected to make another budget payment to the Kurds at the end of March.
"Both sides are delivering," he said.
The latest payment was negotiated by Zebari and Deputy Prime Minister Roj Nuri Shaways - both Kurds - and Prime Minister Haider al-Abadi and Oil Minister Adel Abdel Mehdi.
Zebari had told Reuters on Wednesday the payment would be made within days.
(Reporting by Ned Parker; Editing by John Stonestreet)
Highlights from DC on TNT CC Wed. via Adept1:
DC: In Iraq, everyone is ready to go, announcing it on their television that the financial crisis will end within the next few days. Everything is ramped up, and in all the ministries, the CBI and Dr Abadi’s office, everyone is ready.
They have initiated a few more things, taking half steps forward every day. The exact time and day are only known by the PM and Dr. Shabibi. He has been reassuring everyone around the world that it will get done, to stay ready.
They have nearly completed what they are doing in Tikrit, really breaking the back of ISIL. Clean up is getting done there and they’re on the downhill slide there.
Even on television, they are saying that the financial reforms will be done in the next day. They have said that before, but they are sensitive about that. All the ministries are on high alert, waiting for the word from Abadi and Shabibi. Banks worldwide are coordinating and ready for that as well.
DC: Banks in the US and around the world have been on high alert, ramped up and ready to go – not for fun or because they’ve changed their minds, but because it’s in stages of being revealed.
Banks have called in their people on various levels. Each bank has their own policy about who they want to deal with, such as only people in their state, or half a million or less, or half a million or more, or whatever.
There have been some test cases, to make sure all systems are up and running. We just want to move on with this. Banks have been sent various times, and have sent out memoes to their people.
Several memos just shocked the heck out of me, of how blatant they are being to their own people that this is going to be shown throughout the world as early as last Tuesday.
That was at many international banks, and I was shocked at how open they were. The banks are having more trouble about how open this is becoming, with their employees buying currency.
They are stuck between a rock and a hard place, as it becomes more of an open secret. Banks are having conference calls telling people NOT to talk about this.
DC: They (Iraq) had several different options: one is the shotgun effect, where you pull the trigger and everything gets blasted. They were ready for that.
The second one is where Iraq stops everything for a day while they reset the system, like with FDR in 1933.
Then they had another option where they run this out as slowly as they possibly can, until everyone is screaming.
That is clearly what they are doing: paying overdue regional debts and contractors, then paying pensions and salaries in the new rates, then paying some private exchanges, then switching some regions and merchants.
That has continued, even in parts of Baghdad, but it has slowed as they discuss whether to do the full release.
It is still Dr. Shabibi’s ball and he gets to choose when he shoots it. So they continue to keep this fragile snowball on the mountain topic, rocking back and forth as they keep an eye how people are reacting so that they don’t shock people.
They have taken actions in Iraq and internationally; we just don’t know when that snowball will start rolling downhill.
209 caller: [Chitchat] You’ve made it clear banks will compete, and my mother has a question. Will the contract rates be static, or will they change according to the banks?
DC: It’s static in some banks and changeable at others. They’ll be in a similar range.
Caller: Are the rates reported on recaps fact or fiction? On Recaps, the international rates were reported as $1.77 for dong.
DC: Agreed, at least on Sunday. We’ll see what it is when it gets done.
862 caller: Have you talked about tax implications for Kuwait? Were there any? Will they resemble what we will go through?
DC: The tax situation has not been decided, and they will not use Kuwait as a model. There are three possible scenarios: the first is there are no taxes, and I would love that but cannot see it happening.
Second, is that they take a straight 30% off the top into an escrow account; however, banks are not set up for that and it would be difficult to set up.
Third scenario is that you pay capital gains. If you have had your currency less than a year, it will be treated like earned income, and if you’ve had it more than a year, that will be long-term capital gains. So we suggest you set aside enough for the worst case scenario.
DC: With Kuwait, some who did blind trusts didn’t pay any tax, and some paid regular income tax. The people I know personally, they were cargo drivers and had currency in their pockets. Two didn’t pay any tax, and the third paid regular income tax.
Caller: Will we have to pay tax because more people are involved?
DC: There hasn’t been a final decision made yet.
703 caller: I feel better after hearing you today! On a scale of 1-10, what’s your level of confidence that we will have exchanged by Saturday?
DC: don’t know how long they will take to roll this out, but given how slowly it’s been over the last month or so, it’s my guess that they will divide up the US into regions like they did in Iraq.
All the plans in the past keep being changed, but given the memos we have seen in the banks and the rest of the world, I’m guessing they will put us into different classes – like those dinarians who are crazy enough to listen to some guy from Sacramento will be in the first group.
That’s a way to get everyone through without shocking the financial system, with every high-end house, car, or jewelry off the market all at once. I think they will use the same mentality with us, that we will go through and then the general public.
DC: They are getting really pissed over there in Iraq, and it’s becoming a crisis as they hear that their family members are being paid in other regions.
I feel very good about Dinarville starting up between now and Saturday; the rest of the public, I don’t know.
732 caller: Doesn’t E 13303 imply that there will be no taxes on currency exchanges? Normally you don’t pay tax on exchanges, do you?
DC: Normally you don’t, and that is why some people are saying ‘no tax’, but I cannot get my mind around this much money coming in and the government giving us a pass.
540 caller: I’d like to share a bank story with you. I went to my bank to make a car payment, and the bank manager of this small bank remembered that I have dinar. She came over to me and said she needed to talk to me. They kept me there for an hour, and mention they are on standby. They confirmed EVERYTHING you have been saying. And now the bank manager is listening to your calls, and getting info from their bank that confirms everything you have been saying.
DC: You mean we’re not making this stuff up??
Caller: My head was spinning so that I almost forgot to make my car payment! [Appreciation] The wealth manager wants me to come back today! I believe this 100%, and this is a small bank! I’m in Virginia, although I’m originally from Brooklyn.
770 caller: I’ve been going through a lot of stress, hanging on by a thread – will I live until Monday? I know you can’t give specific dates and times.
DC: We don’t know the date, but it’s our opinion that Dinarland will start prior to Monday.
734 caller: Do you guys still need a receipt if you only have one or two 25K dinar notes? I just want someone to benefit from what I have…
DC: I would keep the receipts for tax purposes, and some banks may want to see it to make sure you bought it legitimately.
DC: Hope this call was helpful. Iraq is absolutely ready and everyone is on the highest level of alert because they anticipate it going now. The same it true of banks around the world. They expect this to go down quickly.
They have been methodical in Iraq, and it think they will take the same approach with the coalition citizens as well. I hope this is the last call.