Early Thursday Morning:
Poppy3 I WAS TOLD LAST WEEK THERE ARE NOW 86 MAJOR CORPORATIONS FROM AROUND THE WORLD WAITING TO INVEST IN IRAQ.
EVEN HEARD FORD MOTOR COMPANY WANTS TO BUILD A MANUFACTURING PLANT THERE.
THEY ARE ALL ON HOLD TILL BANKING LAWS ARE IN PLACE TO PROTECT THEIR DOLLAR INVESTMENT.
THIS IS THE BIG REASON THEY KEEP TALKING ABOUT DRAWING THE INVESTORS IN TO IRAQ. IT PUTS EVERYTHING IN PERSPECTIVE ABOUT WHY THE PUSH TO GET THINGS IN PLACE.
ALSO TIES INTO THEM GETTING THE MAJOR OPERATING LOANS IN PLACE.
Millionday Snippet: Q: [how do we go from...having to get er done...and then today Abadi telling people to be patient. Either they need to get it done or they don't . Asking for patience says we still have a ways to go and no urgency... How many times do you have to say implementation and not implement?]
Millionday: I DO AGREE -- AN INTERNATIONAL RATE WOULD MAKE PEOPLE FEEL MUCH MORE CONFIDENT...
HE [ABADI] IS SAYING JUST BECAUSE IT IS NOT TODAY DOES NOT MEAN THAT IT IS NOT COMING --
THERE IS NO DATE GIVEN --I THINK THIS IS GREAT WHAT ABADI IS SAYING AND AM VERY EXCITED OVER IT –
HE IS SAYING THAT THE ECONOMIC REFORM IS COMING.
Already Blessed: JUST TALKED TO DC...EVERYTHING IS GREAT....LET'S HOPE THIS IS OUR DAY!
EVERYTHING WE HAVE HEARD FOR THE LAST FEW WEEKS IS THAT THE USA IS READY AND WANTS IT...NO REASON TO SUSPECT OTHERWISE AT THIS TIME....IF THERE IS...YOU KNOW WE WILL TELL YOU...WE ALWAYS HAVE
I ALSO DON'T AGREE WITH WAYNE THAT BANKS HAVE TO GIVE STREET RATE....I DON'T BELIEVE THEY DO BUT WILL DOUBLE CHECK THAT FOR YOU WITH DC AND TONY
FOR INSTANCE....THERE IS A BUY/SELL RATE...AND THE BANK CAN OFFER A HIGHER AMOUNT IF YOUR FUNDS ARE IN THERE LONGER ETC...BUT I DON'T BELIEVE THAT THEY 'HAVE' TO OFFER STREET RATE...
THAT IS WHAT WILL MAKE THEM COMPETITIVE AND WHY STERLING SAID A LONG TIME AGO THAT HE WOULD OFFER MARKET AND FELT THAT HE COULD DO BETTER THAN THE BANKS? NOT SURE IF THAT IS STILL THE CASE THOUGH
NetGlobal: AB, I had a thought that the RV would not happen until ISIS is kicked out ot Mosul. Any thoughts on that?
Already Blessed: NET - DC SAID THAT TIKRIT WAS AN ISSUE A WEEK OR MORE AGO BUT HAS NOT MENTIONED MOSUL AS A PROBLEM....
Wayneinsunny: AB... with due respect... it is an international currency.... it will have a fixed price and that is what we exchange at... banks can play with their own spread to a point but if they want to actually exchange the currency they will be within pennies of each other
Already Blessed: WAYNE - THAT MAKES SENSE ON THE SURFACE BUT DOESN'T FIT WITH WHAT I HAVE HEARD FROM UST SO LET ME GET CLARIFICATION FROM DC AND TONY AS I CAN'T REALLY DEBATE IT WITH YOU...I AM NOT A BANKER AND JUST DON'T KNOW EVERYTHING....YET
Sunny: wayneinsunny DC explained at length on yesterdays call that it could come out as fixed or float.
Logos12: wayneinsunny....is it an Int'l currency or are we waiting for it to "be" Int'l???
Wayneinsunny: logos... by the time we are able to exchagne it will be intl
HarryK; Hello everyone! I wanted to remind you all about my friend who came into sudden wealth. Her financial advisors were pros and trusted, but in 2008 they lost her ENTIRE TEN MILLION dollars. She is now working for someone because she lost it all. Be safe, be selective and be careful. It is your money. Your money is your responsibility.
Already Blessed: HARRY K - I WISH YOU WOULD POST THAT IN THE FORUM....THAT IS WHAT WE HAVE BEEN TRYING TO GET ACROSS SO MANY TIMES....SO MANY CELEBRITIES IN SPORTS, PUBLISHING, ACTING ETC TELL THE SAME STORY!
Landons Nana: tman23 Article quote: "This is a decision taken by the Central Bank of Iraq, which represented by Mr. conservative relationship greatly influenced and the evidence now talking of the means of streets, a one way street in which a beautiful job now become almost empty as a result of the rise of the dollar."
The streets are saying the rise of the dollar is KILLING BUSINESS... THE PAYING FOR IMPORTS ARE KILLING THE PRICE IN THE STREETS...
THEY NEED PURCHASING POWER NOW...AND THE ONLY WAY IS TO RAISE THE VALUE OF THE DINAR.
walkingstick » March 12th, 2015, 8:42 am
China wants yuan on IMF's SDR list soon
DOW JONES NEWSWIRES 2 HOURS AGO
China hopes that its currency can be included in the Special Drawing Rights created by the International Monetary Fund in the near future, Yi Gang, vice governor of the People's Bank of China said on Thursday.
"We are actively talking with the IMF and hope it can fully consider the progress China has made in internationalising the yuan," Mr Yi told reporters at a news conference.
The value of the SDR, a kind of synthetic currency, is determined by a basket of major currencies. Originally, SDRs were intended to serve as a shared currency for international reserves, though that aspect never really got off the ground.
If the yuan, also known as the renminbi, is included, it will help make SDRs more representative and push reforms at the IMF itself, Mr Yi said.
He also said China's monetary regulators are closely watching domestic price levels. He noted that a prolonged drop in industrial prices reflects pressure on global commodities, including oil and iron ore.
12 MAR 2015 - 10:08PM
China seeks yuan IMF currency basket role
Chinese officials want the yuan to be added to the IMF's basket of reserve currencies alongside the US dollar, the euro, the yen and the British pound.
12 MAR 2015 - 10:05 PM UPDATED 1 HOUR AGO
China is in talks with the International Monetary Fund for the US-based institution to add the yuan to its basket of reserve currencies, a top banking official says, as Beijing seeks a greater global role for the unit.
It hopes the yuan will become part of the IMF's "special drawing rights" (SDR) assets "in the foreseeable future", said vice central bank governor Yi Gang.
At present, SDRs are made up of only the US dollar, the euro, the Japanese yen and the British pound.
But Yi said China's rise to become the world's second-largest economy had made the yuan, also known as the renminbi, the world's second largest trade financing currency and sixth most widely used transaction currency.
Including the yuan in SDRs will "undoubtedly" make the IMF's unit more "representative" of the global economic landscape, said Yi, who is also head of the State Administration of Foreign Exchange.
"We are evaluating the matter and actively communicating with our colleagues at the IMF," he told reporters on the sidelines of the Communist-controlled National People Congress legislature.
The global lender's executive board reviews the basket composition every five years, with the next examination set to take place this year.
Criteria for inclusion in SDRs include both how widely a currency is used, and that it is "freely usable".
China still keeps a tight grip on the yuan's value, controls which led the IMF to disqualify the yuan in its last review in November 2010, but Yi said it was "developing in the direction of a freely usable currency".
The country has set up yuan clearing arrangements with 10 countries and regions and signed currency swap agreements with 28 central banks.
Late Wednesday Night:
OilRat : March 11, 2015 at 10:29pm
I just spoke to one of my contacts and he confirmed that Iraq has been finishing up some minor changes to the HCL (just wording) and could be voted on as early as tomorrow....the source said between now and next Tuesday....Tuesday being a back wall if you want to say it that way, but it also could be anytime.....didn't wan't to post this because it's probably going to upset some, but he was very encouraged by Iraq's urgency to getting this done.....JMO
Springs > Thank you OR for sharing what you heard. We just have to hear it. It's not a stall just redoing the wording.
OilRat: Springs FYI: he said both sides are working and agreeing on all the changes which is a good thing….He was still very excited and ready for this any moment....so I will tip my hat to Exo as he called this earlier this week and today!
OMEGA MAN March 11, 2015 at 9:49pm Bond payouts have not happened because no Iraqi lips had moved...now they have...
Jorel > OMEGA MAN There are some that own bonds that are rumored to have already been paid ... hearing that countries are processing now!
Springs > OMEGA MAN OM I must have missed something today. What does it mean Iraqi lips had moved? OK clueless on this.
Kudu70 > Springs- We are waiting for someone in Iraq to SAY....GO! So to say it, their lips need to move. Now re-read OM's post.
w8tn4it2rv wrote on March 11th ,2015, 10:59 pm:
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