Post From Dinar Updates 1-24-16
Excerpts & Highlights
Rcookie & Member Evening Chat 1-24-16 Part 2 of 2
rcookie says():prepare capacity building in subjects related to international accounting standards and to combat money and CFT program."
watchman42 says():just woke up and now this. sparks are flying off of my brain! can't take it all in right now. LOL :D
rcookie says():AGAIN...AML...CFT ...AND FinCEN COMPLIANCE....
rcookie says():CFT= COMBATING FINANCING OF TERRORISM....
rcookie says():ANYBODY STILL THINK ANY OF THIS WAS REMOTELY POSSIBLE WITHOUT ALL OF THESE MECHANISMS IN PLACE 2..3..4..10...YEARS AGO....
larrykn says():not even 6 months ago
rcookie says():THHEY WOULD HAVE REVALUED THEIR CURRENCY AND LOOKED EACH OTHER GOING..."UH OH...OK NOW WHAT DO WE DO."...
breakthrough says():great news
nromeo says():rcookie or wmawhite they are far from being in 2% compliance aren't they or are they?
rcookie says():I HAVE NEVER BEEN AS EXCITED ABOUT THIS INVESTMENT....
larrykn says():hub kuwait didn't rv they ri just went back to what they were right after they paid off some bills first
jimplants says():RCOOKIE WAS THERE A DATE FOR THIS CONFERENCE i MISSED THAT
larrykn says():me neither rcookie :)
rcookie says():THE 2% IS OUTLINED IN LOI...MEFP AND TECNICAL MOU....AND BEING DRIVEN BY IMF....
nick says():rcookie the quetion is what r u going to do with all you free time after rv?
hub says():we have been trying to decide where we wanted to retire,,, the last move,,, and never has my wife found the spot she wanted......until Friday,,,she is ready, so this must be a sign,, we need the rv to pay for it,, so may the ones that say timing is everything is right....
cjquade54 says to jimplants():I think it's early March
hub says():larry, your right i was just talking about the difference of how long it took to be operational...
wmawhite says to nromeo():IMO,........it doesn't matter because it will be a moot point..in other words fixed. Here is why I say this:...From the IMF, The GOI and CBI: The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions.
nick says():rcookie your work ethics r very much appreciated
love it 2 says to wmawhite():so the so called "2%" means nothing ?
rcookie says():DIDNT SAY EXACT DATE BUT I BELIEVE IN MARCH...WILL LOOK..
rcookie says to nick():TYVM..
wmawhite says to nromeo():This is an agreement with signatures from the IMF, GOI, and CBI. There are no maybes, or possibi;ities, or get around to it. It states/......"The government will do such and such".
larrykn says():hub I can't remember what bill they had to pay off but the rate went up to around $9 for a few days then whet back down, I don't know when they started but I would think once they got their country back they did it, they had nothing to hold them up
wmawhite says to love it 2():I said."moot point".
rcookie says():HERE IS WHAT THE IMF HAD TO SAY ABOUT THE 2%.......
rcookie says():12. The spread between the official and the parallel foreign exchange market rate receded toaround 2 percentage points since August from as high as 16 percentage points in June, as a result of the elimination of the obligation to prove custom duty and income tax payments before buying foreign exchange.
wmawhite says to love it 2():If the issue that is causing it is gone by by.......then it issue dosn't exist anylonger.
hub says():i think that was clintons way to balance the budget
cjquade54 says to jimplants():I think they bumped it from Jan 21 to early March
wmawhite says to love it 2():doesn't
love it 2 says to wmawhite():(y) ok
breakthrough says():THANK YOU rcookie and wmawhite for all your hard work bringing us so much important information.
jimplants says():THANKS THATS THE INVESTMENT CONFERENCE THAT WAS MENTIONED LAST WEEK THEN OK THANKS THAT INCLUDES THE ISX ALSO THEN
wmawhite says to breakthrough():yw
templejc says to breakthrough():I AM GOING TO NEED A BREAKTHRU JUST TO SEE YOUR POST!
wmawhite says to love it 2():(y)
love it 2 says to rcookie():so actually looking a for a RV at this point, would be better to wait, til March or later ?
nromeo says():its amazing how shabs kept it stable for over a year and they can't even come close to a month
rcookie says to nromeo():ARE YOU KIDDING....
breakthrough says():LOL Templejc
love it 2 says to rcookie():i mean i have no problem waiting...i shop at Wal-Mart and those lines are craaaaaaaaaaaazy :D
Baxter1243 says():If I figured right.the spread right now is just over 4%...
nromeo says():when have they kept the 2% for a month since shab was gone?
wmawhite says to love it 2():I want to show you the first sentence to paragraphs #18, #19 and #20. 18.
The government will .... 19. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. 20.
The government will implement reforms on anti-money laundering and combating the
rcookie says to nromeo(4:26 PM):THEY ARE FIGHTING THE BIGGEST WAR O TERRORISM IN HISTORY OF MANKIND...IMPLEMENTED COMPREHENSIVE SOCIAL..
POLITICAL AND ECONOMIC REFORMS AT ALL LEVELS...IMPLEMENTED...SALARY LADDER...HIRING FREEZES...SUBSIDY CUTS ...TARIFF IMPLEMENTATION...
AND ALL AMIDST A MAJOR PRICING CRISIS TO OIL....AND MAINTAINED 2.3 % INFLATION WITH AN NON EXISTANT CURRENCY VALUE.......
wmawhite says to love it 2():My point is that it CLEARLY states that a certain entity will do something. There are no questions as to what is being accomplished.
love it 2 says to wmawhite():awesome... i can wait ...I have no problem with that :)
Annieo says():you news hounds ROCK!!!!
willie60 says to rcookie():Just finished reading today's chat log as I do daily. Thank you and all of the wonderful researchers here. I so much appreciate all of your efforts. Great stuff you guys.
FIELDGT says():love it 2 i would gladly take a March retirement date lol
rcookie says to nromeo():WHAT THEY HAVE DONE...ALL UNDER SEVERELY ADVERDE CONDITIONS IS NOTHING SHORT OF REMAR....KABLE
rcookie says to willie60():HEY WILLIE...YVW...
love it 2 says to FIELDGT():it happens when it happens friend...nice to see March but oh well I can wait til when ever :)
nromeo says():shab had maliki plus terrorism and god knows what else also.are u saying none of that existed when shab was there
Annieo says():ready to March right on into March!!!:D
rcookie says():THE WEEKEND NEWS IS INSANE!!!...NO I DONT HAVE DATE & RATE,,,,
FoolMeOnce says():So we are waiting until March?
templejc says():WHERE DID MARCH COME IN ON THE EQUATION?
love it 2 says to FoolMeOnce():we are waiting til when it happens ... :)
FIELDGT says():FoolMeOnce MD says anytime.. we were just saying we need to wait until it happens
cjquade54 says():just keep in mind, as Mr W has reminded us countless times, by mid 2016
templejc says():OK IT DIDNT
FoolMeOnce says():Oooooooook gotcha. I just blipped in and caught the last 3 minutes.
cjquade54 says():as stated by the IMF
subgirl says():WE do not know when this will happen and most likely it will happen ANYTIME!!!! NOT MARCH!!!!! ANYTIME!!!!!
rcookie says():YOU GUYS REMEBER THAT ARTICLE ABOUT BANKING A COUPLE OF MINUTES AGO.....
wmawhite says to templejc():It never came from this room.
templejc says():OK - IT SNUCK UP ON ME AND BAMM THERE IT WAS IN CHAT
nromeo says():after 8 years in this i am past ready for this to happen
rcookie says():OK....HERE IS SOME MORE RIDICULOUS NEWS...RELATIVE TO IMF LETTER OF INTENT...MEFT...& TECHNICAL MOU....
nromeo says():like right now lol
rootietooo says():rcookie, mr white, thank you for being the shining stars for this room today. I just love it. thank you.
rcookie says():DOES THIS READ FAMILIAR?...........
love it 2 says to rcookie():seems it does
rcookie says():REMEMBER THIS IS ANOTHER IMF MANDATE...AND LOOK AT THE DATE.....ANOTHER EARLY DELIVERY....BIG SMILE!!
rcookie says():20. The government will implement reforms on anti-money laundering and combating the financing of terrorism (AML/CFT). This will improve the integration of the domestic financial system into the global economy and lower transaction costs, improve governance, and reduce the size of the informal sector.
As a first step, the government will, by end-February 2016, draft, with the help of IMF technical assistance, and adopt a by-law to set up a mechanism to comply with the relevant United Nations Security Council resolutions related to terrorism financing and Recommendation 6 of the Financial Action Task Force on Money Laundering (FATF).
rcookie says():HMMMMMMMM LOOK FAMILIAR.........
rcookie says():THE TRAINING TOWARD THAT CONFERENCE...AML/CFT.......WITH TECHNICAL ASSISTANCE...DRAFT BY THE END OF FEBRUARY.....HMMM IMPROVE THE INTEGRATION OF THE DOMESTIC FINANCIAL SYSTEM INTO THE GLOBAL ECONOMY.......ARE YOU KIDDING ME!!!!!!!!!!!!!......
cjquade54 says to rcookie():that's as plain as can be
rcookie says to cjquade54():(handshake)
rcookie says to cjquade54():COUPLE THAT...WITH WHAT WAS POSTED IN GAZETTE YESTERDAY THE 23RD.....
rcookie says to cjquade54():WHICH WAS........?
cjquade54 says to rcookie():I'm pumped (handshake)
rcookie says to cjquade54():OOPS
rcookie says(4:42 PM):WELL
cjquade54 says to rcookie():ammended investment law
rcookie says to cjquade54():LOOK FAMILIAR...
Localcats says():the check is in the mail
Baxter1243 says():sandbox timer.. (lol)
love it 2 says to Localcats():I'll take mine in my HAND :D
cjquade54 says to rcookie():ammended = fix the distortion
love it 2 says to Cricket22(5:13 PM):just sayin... idont need a check in the mail.... i rather a check in hand or a BLACK CREDIT CARD :D
rcookie says():19. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions.
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an
rcookie says():exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
templejc says():WELL THEY ARE ONE MONTH AHEAD OF THE PLAN!
rcookie says():GONNA NEED A PLASTIC SURGEON TO GET THE SMILE OFF.....
cjquade54 says to rcookie():is this the ammended investment law?
cjquade54 says to rcookie():must be
breakthrough says():I'm a believer in what you are saying rcookie and wmawhite! Makes me want to keep watching my favorite show on HGTV called Caribbean Life and believing I won't have to watch the show anymore because I will be there soon!!! Hot digity dog!
rcookie says():YES IT IS....
dovi says to rcookie():they said there's a first time for everything, but I never...
rcookie says():GOTTA BUY THE ISLAND NEXT TO JIMMY BUFFET..
cjquade54 says to rcookie():salt shakers will be on me lol
rcookie says():YOU GUYS REMEMBER THE ANNOUNCEMENT THIS WEEK... OF SELLING PUBLIC BONDS TO CITIZENS FOR THE 1ST TIME SINCE 2003...5 TRILLION DINARS...3 YEARS AT 10%........
rcookie says():COME ON...LAST ONE...
rcookie says():LOOK FAMILIAR....
rcookie says():The domestic financing will be covered by the issuance of Treasury bills, out of which up to ID 7 trillion will be refinanced by commercial banksIRAQ￼INTERNATIONAL MONETARY FUND 7
IRAQat the discount window of the CBI, the issuance of national bonds for the general public in an amount of ID 5 trillion, and the drawdown of government deposits in the banking sector in an amount of ID 4 trillion.
nick says():Looks like last news night
rcookie says():LIKE SOMBODY STOLE THE IRAQI/IMF PLAYBOOK.....
rcookie says():JUST WATCHIN THE PLAYS...KNOWIN THE X & O'S
Tex1 says():Yall have made My day,,,,thank ya much/
love it 2 says to rcookie():maybe Bill Belicheck has their hand book ? :D
cookie says to mrsgib():TRY NOT TO GUESS AND BE SO DATE CENTRIC....THE MAIN PLAYERS HAVE LEFT THEIR PLAYBOOK OPEN FOR REVIEW...
templejc says():AGREE IS EVENT DRIVEN NOT DATE DRIVEN
jd says():Can Iraq spend their reserves if they need money to meet their budget??
cjquade54 says to jd():reserves belong to the cbi .. the budget is for the goi
cjquade54 says to jd():someone correct me if I'm wrong
slh5282 says to BGG():BGG.. RCOOKIE BRINGS AND HAS BROUGHT SOME UNBELIEVEABLY GREAT NEWS.. LOOK FORWARD TO HIS NEWS AND PARTICIPTION IN THE CALLS EVERYTIME