Thank You My Ladies for sending this to us today:
MY LADIES: A GOOD WEDNESDAY MORNING TO YOU ALL
THE BUDGET IS PUBLISHED http://www.moj.gov.iq/uploaded/4352.pdf
I'M OFF TO LOOK AT IRAQ TO SEE WHAT'S GOING ON
SAGER -: Good morning! Another day without auctions... Very good! ML the way I see it is, until they actually start to distribute the funds, I'm ok. If they start funding and they haven't re priced, that's where I'll start to wonder.Things are looking great
Dxxx: ONE MORE DAY NO AUCTIONS WOULD BE GETTING I HOPE US VERY CLOSE
kxxxx M: I believe they have 24 hours two start using the money and laws
Dxxx: Don't believe they can back pedal this time on the tariffs
Dxxx: Wow 24 hrs Kxxxx?
Dxxx: Is that 24 from something U read?
MY LADIES: CORRECT Kxxxxx BUT BE CAREFUL WITH WORDING, FUNDING IS NOT CORRECT …IN 24 HOURS THE BUDGET IS OFFICIAL AND OPERATIONAL, COMMON SENSE TO BE OPERATIONAL YOU NEED MONEY IN AND MONEY OUT
SO 24 HOURS TO FUND IS CORRECT BUT CAN BE CHALLENGED ON THE WORDING.
kxxxx M: they got to use dinars to pay the debts now
MY LADIES: WELL THEY ARE SUPPOSE TO USE DINAR, BUT REMEMBER THE EEL IN YOUR POCKET..LOL..IRAQ IS SLIPPERY..SO LETS JUST WATCH WHAT HAPPENS NEXT..I'LL BE BACK IN A FEW, LET'S SEE WHAT I FIND.
MY LADIES: OK SO HERE WE HAVE SOME CLARITY ON THE AUCTIONS, THEY HAVE NOT STOPPED ALL TOGETHER. THEY JUST STARTED USING THE NEW MECHANISM TODAY APPARENTLY, AND WHAT THE NEW MECHANISM IS HAS TO WITH HOW DOLLAR IS PURCHASED.
THEY ARE TRYING TO ELIMINATE MONEY LAUNDERING SO YOU CAN NO LONGER JUST SHOW UP AND MAKE EXCHANGES IN CASH OR DINAR.
HOW MANY OF YOU HAVE GONE TO THE BANK TO BUY DONG,? YOU DID IT THROUGH YOUR ACCOUNT RIGHT. WITH SOME SORT OF PAPER TRAIL OF WHERE THE MONEY WAS COMING FROM RIGHT?
WELL THE SAME IS HAPPENING HERE.
THEY WILL SELL THE DOLLAR AS FOREIGN CURRENCY FOR THE PURPOSES OF TRAVEL MEANING IN LIMITED SUPPLIES AND WITH A PAPER TRAIL, YOU NEED TO HAVE A WHAT THEY CALL MONEY ORDER IN ORDER TO PURCHASE ANY CURRENCY.
THE CENTRAL WILL LIMIT THE TOTAL SOLD DAILY TO 75 MILLION AND THERE WILL BE A TIGHT PAPER TRAIL.
WE HAVE THE SAME SYSTEM IN PLACE HERE IN THIS COUNTRY.
Consultant Abadi: a central bank in the sale of money orders to prevent money laundering [audio]
Wednesday, February 25, 2015 13:01
He attributed the appearance of Mohammed Saleh, adviser to Prime Minister Haider al-Abadi for Economic Affairs, a CBI limited auction for the sale of currency through remittances only to prevent any process of money laundering, trade and speculation. "
Said Saleh told all of Iraq [where] that "currency auction at the Central Bank did not stop, but the mechanisms Ngiller became cover financing traders requests for Astiradthm of foreign currency carried out through banks which that meet these demands because it is a legitimate and well thought out and well-known destinations applications without the need for cash for the auction."
He added that "the action was merely regulate the mechanisms of action did not stop the auction, but the foreign currency remittances through processing and there is a section for the registration of banks cash in dollars for the purposes of tourism and travel."
The Deputy Governor of the Central Bank of the former, "the continuation of the monetary policy of the Bank and to maintain the purchasing power of the Iraqi dinar and at the same time distant trade for speculative financing and money laundering."
The Iraqi Central Bank announced today the start applying the new system of remittances and sell the currency ", denying reports about" Stop selling the dollar operations. "
The source familiar with the bank, said to [where] on Tuesday, that "the coverage needed banking offices, community and government banks of currencies will be through money orders only," adding that "this decision is not contrary to what was stated by the budget bill for 2015 Select auction amounts to 75 million dollars. "
The source indicated that "the move is part of the Bank's policy to maintain the stability of the Iraqi dinar exchange rate against the dollar has been preceded by a step to reduce the volume of sales in the auction."
The Central Bank of Iraq sells in previous years, sums up to billions of dollars a month, but decreased significantly in the past few weeks where he sold more than $ 2.8 billion in the month of January 2 Almadi.anthy
kxxxxx: so they are planning to use the dinars for they currencies and it will be as strong as the usd
MY LADIES: WELL THAT IS THE PLAN Kxxxxx, BUT LET'S WATCH
Dxxx: Hmmmm so they can still do an auction of 75 m
kxxx: mary or nova so when this goes in effect at first is the dinar peg to the dollar an then when the basket come out it will be peg to the sdr so if this is the case it will start 1 to 1 ?
NOVA: It Will Not Sir!!!!
NOVA: People This Is How It Is Done Here!!! This Is Still Wonderful News!!!!
JP: Mary, IF the “slippery eel in the pocket” causes a delay in the next 24+ hours, it stands to reason that if would be because financial safety protocols. Does that make sense? (I know, I know … “reason” may not be synonymous with Iraq!)
JP: I just believe we have come to the “Jerry McGuire” moment!!
JP: I’m looking to the funding of the budget at something other than a program rate. I do realize that there is some speculation or regulation that says it is to be funded 24 hours after its publication but I’m not holding my breath. I was just speculating concerning what would be the possible delay at this point or is it just that the process continues and we don’t know how many pieces yet need to be put together?
MY LADIES: JP.... CORRECT THE PROCESS CONTINUES...AS I STRESSED EARLIER SO NOT BE CALLED ON THE CARPET FOR INACCURACIES, THERE IS NO WORDING IN THE CONSTITUTION THAT SPEAKS TO FUNDING THE BUDGET PER SAY.
HOWEVER IT IS IN THE CONSTITUTION THAT AFTER 24 HOURS OF PUBLICATION IN THE GAZETTE ANY PRINTING BECOMES LAW.
SO FOLLOWING THAT IT IS REASONABLE TO ASSUME THE BUDGET IS LAW IN 24 HOURS FROM LAST NIGHT.
WITH THE BUDGET BEING LAW IT IS REASONABLE TO ASSUME THEY WILL NEED TO GRADUALLY BEGIN FULFILLING OBLIGATIONS IN THE BUDGET
IT IS UNREASONABLE TO ASSUME THAT THE ENTIRE AMOUNT OF THE BUDGET WILL BE FUNDED IN 24 HOURS AS IT IS A 52 WEEK BUDGET, SO IT HAS MONEY IN AND MONEY OUT CONTINUOUSLY.
BUT IT IS REASONABLE TO ASSUME THAT SINCE THE ENTIRE REVENUE OF THE BUDGET IS BASED ON OIL THIS TIME THAT THERE WILL NEED TO BE A CONVERSION RATE FOR MONEY COMING IN BEFORE THEY CAN BEGIN SENDING MONEY OUT.
NOW I DO NOT WANT ANY OF US TO GET STUCK IN A 24 HOUR WHEEL SPOKE BECAUSE THAT IS NOT WRITTEN ANY WHERE.
BUT WE DO KNOW THAT THE MONEY IN NEEDS TO HAPPEN REASONABLY SOON.
DO WE ALL UNDERSTAND THIS NOW?
kxxxx ML: IF THEY VOTE THE LAWS IN WE NEED TO SEE THE MONEY FRIST…. CAN THEY HIDE IT TILL THEN ?
MY LADIES: Kxxxx I ASSURE YOU 100% THAT NO ONE IS HIDING ANYTHING..
IRAQ IS A COUNTRY MY FRIEND NOT A GAME OF HIDE AND SEEK...LOL..
ALL THIS CHATTER OF HIDING AND SMOKE AND MIRRORS AND COPS AND ROBBERS AND COWBOYS AND INDIANS IS JUST DINAR FANTASY AND DRAMA
THEY ARE SHOWING US EVERYTHING WE NEED JUST TO KNOW WHERE TO LOOK AND PUSH ALL THE HORSE FEATHERS ASIDE TO SEE IT.
THINGS ARE VERY GOOD ...VERY VERY GOOD...
MY LADIES: HERE WE GO, THIS SPEAKS TO WHAT I JUST SAID, MONEY IN AND MONEY OUT AND THERE IS EVEN A LINE IN THE BUDGET THAT SPEAKS TO BARTERING AND BORROWING LET’S HAVE A LOOK.
Government between financial distress and doors loans
By Mohammed Emad 2.25.2015 12:34
Counting deputies from different political blocs that the Iraqi state is not bankrupt, and in front of her several options to fill the shortfall in the payment of salaries and entitlements of some state institutions through external borrowings and internal, as opposed deputies from the Kurdish component on the unfairness of the government that money distributed arguing that the central bank has strong balances and through him the government would be able to bridge the current financial and temporary shortages.
kxxx M: SO WE NEED THE OIL TO HIT 60 + TODAY THEN THEY CAN USE THERE DINARS TO PAY
MY LADIES: Kxxxx YOU LOST ME, WHY 60+ AND THE OIL IS ALWAYS SOLD IN DOLLARS...
THEIR BUDGET IS WRITTEN FOR $57 AND ANYTHING ABOVE THAT IS EXTRA FOUND MONEY THAT CAN GO TO THE DEFICIT.
jxxxx: they're not broke ... they just need to value their currency
kxxx: THE BUDGET NEEDS 60 TO WORK THAT IS IN THERE BUDGET…DID I MISS SOMETHING WHEN I READ IT
MY LADIES: NO KEVIN I STAND CORRECTED $56 IS IN THE BUDGET
Number (4352) to ensure the doors of the budget disbursement for fiscal year / 2015
Iraqi Gazette newspaper published the general budget of the Federal Republic of Iraq
Number (4352) to ensure the doors of the budget disbursement for fiscal year / 2015
The new issue of the Iraqi Gazette number (4352), and included separating the first estimate of the federal budget for the financial year / 2015 revenue of $ (940,483,641,39) ninety-four thousand and forty-eight billion three hundred and sixty-four million one hundred and thirty-nine thousand dinars .
The general director of the Iraqi facts circle Hussein punitive, the newspaper included the publication of the income earned from the export of crude oil at a rate of (56) and fifty-six dollars per barrel and the rate of export of (330,000,0) three million three hundred thousand barrels per day, including (250,000), two hundred and fifty thousand barrels per day on the quantities of crude oil produced in the province of Kurdistan and (300,000) and three hundred thousand barrels per day from the product quantities of crude oil in the province of Kirkuk, to contribute to all the revenue actually income once the public treasury account.
He added that the second chapter of a dedicated budget of expenses and the deficit in the fiscal budget for the 2015 law, stressing that the total deficit planned for the budget was (254,140,654,10) twenty five thousand four hundred and four dollars and sixty five million Aravamaúh and ten thousand dinars
kxxxx: TY MARY BUT WE WILL SEE 60+ AT CLOSING BELL AN WE WILL SEE A RI BY MORNING …IMO
MY LADIES: OK Kxxxx GREAT!! FROM YOUR MOUTH TO SOME ONE IMPORTANT EARS...
ALL RIGHT EVERYONE I'M BEEN LOOKING AROUND IRAQ AND THERE IS JUST DOZENS OF REPEATS OF THE SAME THING...
WE HAVE WHAT WE NEED THE BUDGET AND THE AUCTIONS AND NOW WE JUST WATCH AND WAIT.
IN THE MEAN TIME I HAVE STUFF TO DO SO I'M OUT.. THANKS