onthewings] millionday That's sounding discouraging for those of us who are invested and thinking that we would see this before the end of the year
[lorijeanmarshall] If they DO join the WTO by Dec 31st, they would have to have the new reality BEFORE the end of the year, right?
[millionday] the part of the compliance is a reality rate
[lorijeanmarshall] Or am I just dreaming?
[millionday] it should be good news not bad -- right
[millionday] in order to trade in the world trade organization
[lorijeanmarshall] millionday That's what I was thinking. I brought it up last night and it almost started a coup.
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[millionday] oh im sorry hun -- i should talk about it more -- it is coming up very fast
[mdglow] lorijeanmarshall lol
[lorijeanmarshall] I finally just bowed out and went and did the dishes
[lorijeanmarshall] millionday Cause I am thinking.....
[millionday] good job though -- you are right -- they need the reality rate to be able to be competitive in trade -- have to be internationally recognized
[lorijeanmarshall] If they are so hell-bent on joining the wto at the end of the year....
[lorijeanmarshall] then we really don't have much longer to wait for the reality rate. Cant have WTO without a new rate by that time.
[jimplants] lorijeanmarshall no one wants to do business at 2 tenths of a cent
[wmawhite] millionday ...that is the key.....competitive.
[fsaint7777] I dont know about you guys but I'm encouraged!!!!
[lorijeanmarshall] millionday Whew... thanks. Thought I was REALLY reading too much into everything
[Godsalli/Jim] 1/10th Jim
[wmawhite] millionday millionday ........they can trade at 1166....but it would kill them.
[millionday] that is the whole idea -- competitive in the market and a tenth of a penny is not to say the least
[jimplants] my bad
[millionday] very encouraged
[lorijeanmarshall] Have you found anything else about the meeting with Iraq and Kuwait about "equalizing" their economies on the 14th?
[millionday] they cant trade at 1166 -- it is not a reality rate and you are right it would wipe them out in no time
[millionday] just that it is on the 14th
[wmawhite] millionday .exactly.
[lorijeanmarshall] millionday Plus, it IS a PRE-REQUISIT to have a new rate to join the WTO!
[Flygirl02] Millionday, can you clarify for me. I think you brought articles that really indicated that there'd would not be a float and for them to be a leader in the region they need a rate as before but taking into consideration their reserves and inflation ????? Or am I wishful thinking???
[wilbur48] millionday what about the imbalance in the export.. until they have export aren't they up the creek
[millionday] right -- they have to have an internationally accepted rate
[Imperator] Basel lll requires it I believe as well.
wilbur48] millionday what about the imbalance in the export.. until they have export aren't they up the creek,, if not how does the imbalance work??
[millionday] they have not had exports due to the sanctions and are in the process of entering the international community
Flygirl02] MD. Seems like I read that once they pass the basket of laws it will done almost immediately cause those are actually the laws the they already passed but then the basket activates everything. What's your thoughts about that??
[millionday] i read something similar to that too -- i think that all things that rely on each other have to be done at the same time
[millionday] a law that includes something that is not passed as in new figures or compliance issues not activated -- they have to be al at the same time or they are not legally compliant and in most cases constitutionally
kshaw100] Do you know if the reality rate must be in place for 30 days before WTO membership?
[millionday] i do not know if they have to be in place 30 days
[The s family] I read that the current session ends in april
[millionday] thats when the elections are i believe the next session in last nights news is the 17th of nov i am pretty sure that is what we had smile brb let me look some more
lorijeanmarshall] millionday So what are we looking for out of the SFA being activated.
[fsaint7777] It would be so sweet if they got all these laws wrapped up before the 17th!!!!
[jimplants] lorijeanmarshall a real rate
[millionday] this may not go over well
[fsaint7777] Yeah supposedly monetary reform was included in the SFA
[millionday] it is
[millionday] The ratification of the "500" against terrorism cases. Adviser said the president Khalid Al Mulla said in a press statement that most death sentences received by the Office of the President had been approved, adding that the presidency recently ratified a number of death sentences against those convicted of terrorist acts.
Added Mulla said "the vice president doing his job to the fullest on these issues to service in the public interest and the achievement of human justice against what the terrorist groups
[millionday] this is coming through the phones in 2014
[millionday] The bank said in a statement issued today, said that "the bank and through his quest for the development of electronic systems that contribute to the activation of banking overall banking system, signed a contract for the establishment and development of infrastructure for payment systems, retail with a consortium of companies which led by Bpc",
adding that "the contract will enter into the actual implementation of these systems in 2014 and Smthel next important achievement being of strategic national projects related to the development of electronic payment transactions in the use of credit cards from inside and outside Iraq and through a mobile phone
[millionday] nice smile
[fsaint7777] Inside and outside of IRAQ !!!!!!! AWESOME!
[millionday] very nice --- saying it will be set up for the application -- i likey
LBnFL] millionday "actual implementation in 2014" ???
[millionday] i have to run some errands --- so i will see all of you at news time at 730 -- thanks Rudie seems as we have a lot of meetings today and that is about it so see you tonight LBnFL for phone wires smile
MDStratton Does this mean 2014 before realty rate is implemented?