Millionday News 8/5/13
[millionday] first i am going to bring what i had this afternoon for those that were not here so lets try to get these reports out so everyone can read it all together we will talk after each one so that we can get the whooop whoooops out smile
[millionday] note -- notice the first word -- here we go
[millionday] Resumed the board of national pension issue smart cards to card for retirees after a hiatus of more than a year and a half, but this time set up to card issuing within the body to facilitate the release, which should have been done in the banks and the difficulties great for the elderly,
said Ahmed Abdul-Jalil al-Saadi Chairman of the National for retirement that the resumption of release came after large orders, which delivers it to
millionday] hold off on chat please until in between reports so all can read lol
[millionday] note -- now this is not talking about in the days to come or ect ect -- it is stating they have resumed loading the cards
Read More Link On Right
[millionday] a group of retirees they need to take advantage of laundry services card that will help their counterparts who possess in receiving their salaries away from the pressure of congestion banking, extortion and money damaged as well as being Setsttion the use of new services and added Saadi that the Commission agreed with Qi Card to open centers issue in all circles retirement in Iraq to facilitate the task of the citizens of his part,
[millionday] Bahaa Abdel Hadi Managing Director for Card said the company is committed to providing facilities to issue typical for retirees in terms of processing and the provision of comfort to citizens during the wait in terms of cooling the halls and the provision of water and places to wait suit
[millionday] that was the end of that one -- they stopped loading the cards well over a year ago and now they have returned to loading them with retirement and other gov services ect –
the reason that we are so interested in this --- they are also loading them for all the citizens that are recipients of the Iraqi services if they are not in the country -- meaning that if they can use them -- they would be able to use them out of country as well
[millionday] so this would mean that they have internationally accepted currency because if they purchase something outside the country -- it has to be exchanged by the rate applied at that time
[millionday] among the reason of the moving money -- this is one reason many are excited if you didnt understand -- that helps so let me bring the other one that we were very excited about today if you were at work brb
millionday] i am going to bring this in small parts so we can all look at it and understand
[millionday] here we go -- Economic development in the House of Representatives by the Iraqi government to activate the decision to delete three zeros from the Iraqi currency .
[millionday] note -- they announced this to the citizens that they are activating the removal of the three zeros -- now lets look at the rest
[millionday] now this is saying that this is at this time -- meaning now at this time
[millionday] On the reason for the claim at this time Parliament Alsnjara said during his meeting with Sisterhood, saying: After the withdrawal of Iraq from Chapter VII see that the regional climate has become fit and there is no fear of currency counterfeiting or forgery,
and this argument that upheld the government to stand against the activation of the resolution has become unjustified now as well as the Iraqi environment has become a fertile ground for investment for Iraq's possession of fourth power Global prompting companies global investment race in investing in Iraq as between
[millionday] now here is more of this report and why i am excited and many are
[millionday] Alsnjara that there are procedures to speed up activating the decision of which continue to pressure the government legitimately including resorting to constitutional provisions that allow printing of a new currency,
and it is not reasonable to keep the Iraqi dinar weakened to this limit against the U.S. dollar, especially that Iraq's sovereign balance in international banks totaled $ 76 billion.
* In order to stand on the reasons for delay approval of the project to delete the zeros we met an economist and financial consultant Dr Majid picture, who told us the truth about the project and economic feasibility Almarjah the him, saying:
[millionday] so they have procedures to use to speed this up as well
[millionday] now read this very carefully >>>>>>>>>>>> In 2008, the Central Bank in agreement with the Ministry of Finance to do the studies necessary for the process of deleting three zeros from the Iraqi currency, and the purpose of this process is to restructure the local currency to reduce the cost of trading the currency and facilitate the handling and especially trading, medium and large,
as well as multi-currency than fifty fils to (100) dinars will lead to facilitate the draw price policy in the country to be accompanied by practical package of measures has claimed responsibility for all government departments and state institutions and
[millionday] banks in order to find solutions to all the problems and issues that can result from the process of restructuring of the currency, including cash, accounting, security, as well as take the necessary measures to destroy the currency received, and most important of these issues is how to do therapy accounting for the deletion of zeros, and related market, Iraq Stock Exchange, said Suri was the experience of Iraq to replace the currency in 2003 is very rich, but
[millionday] so as we see -- they are prepared to destroy the old currency we are exchanging in and they are also ready to issue the new denoms and account for them and the change in the isx and the market stats
[millionday] will not exceed only change the shape of currency and replace it, and therefore did not encounter this process any accounting requirements or legal
It is necessary to take some necessary measures in the case of structuring currency in order to get the results of the desirable, including education departments, banks and public usefulness of restructuring the currency and how to take the necessary measures in order to reach the planned objectives, including the use of technology by the relevant authorities in order to detect fraud that occurred formerly of the old currency.
[millionday] so as they have said here it is necessary to calculate all the changes in all the departments and also change the math and accounting ect in the entire education system -- that was all part of the preparation of the process of pulling in the three zero currency
[millionday] note -- so here is the reason it took so long and they are now activating it finally
[millionday] And the reasons that led to the suspension of work on the project Suri replied saying: The central bank's decision to restructure the process a decision for monetary policy, the monetary authority (CBI) and was done in consultation with the Ministry of Finance,
the Bank has taken all the measures relating to the restructuring of the currency, including design of currency denominations and the quality of paper used in currency, which is considered one of the finest types of paper Stainless cash or difficulty rigged,
but the interference of the executive of its decision to postpone the process of restructuring the currency led to the suspension of all actions related to this project.
millionday] the Bank has taken all the measures relating to the restructuring of the currency, including design of currency denominations and the quality of paper used in currency, which is considered one of the finest types of paper Stainless cash or difficulty rigged,
[millionday] so this means that the lower denoms are done and printed and it was a delay due to that as well -- they did also work with the ministry of finance on this entire system as it shows here
[millionday] note -- changes in the monetary policy also took place
[millionday] Souri added: That undergo such decisions for political manipulation and skirmishes is not in the interest of monetary policy nor in the interest of the Iraqi economy and therefore non-specialists politicians not to manipulate or interfere in such decisions and be subject to speculations and between political factions warming internalized in power.
[millionday] very interesting part>>>>>>>>>>>>>>.. And the most important benefits achieved by the project to delete zeros Giebna the economic Thamer Alheimus, saying: Most benefit from the process of currency exchange deleting three zeros is the first easy trading and secondly and more importantly when you are distributing coins that are parts of the dinar will create a high elasticity of prices,
for example, we now have a quarter dinars (250) smaller currency while will have after the deletion of zeros currency 50 fils or less, depending on the value of the dinar and therefore we can that between 1/4 dinars and 1/2 or less of the dinar, and this helps a lot in improving the incomes of lower segment of low-income people in particular.
millionday] now here is about the USD and the rate so lets read this carefully
[millionday] Perhaps in this case raises the purchasing value of the Iraqi dinar in general in the future, if there is a monetary policy sober at least have the dinar against the dollar as a target in the stage unforeseen, and certainly the rise of the dinar against the dollar will improve access to many of the families or social strata limited income.
[millionday] note -- meaning the steps of class -- lower class -- working class -- higher class -- as in terms of money
[millionday] this is the last part >>>>>>>>>>>>>>>> and also very important
[millionday] We join our voices with the demands of the Economic Committee in the House of Representatives that calls for the activation of the project to delete the zeros for the benefit of the Iraqi monetary policy and all the Iraqi people
[millionday] most journalists have added some comment of sorts with their report on the activation so this is obviously a great time for a whooop whoop whooop whoop smile
LBnFL] millionday You say "most journalists have..." So have you seen multiple articles stating this?
[no-regret] We join our voices millionday millionday the we here that are talking ---are they the special committee that was formed a while back to study the project zeros
[Papatom] so they have now TOLD the people that there is new small denoms coming....coins coming...a new rate against the dollar and more purchasing powers.......right?
PART 2 CONTINUED