aggiedad77 » June 18th, 2015, 10:56 am
Thursday News Summaries and Commentaries
OH WHAT A BEAUTIFUL MORNING.....OH WHAT A BEAUTIFUL DAY.....so sings the CBI.....two days of ignoring Article 50 and the results are in....a significant drop in the USD to IQD currency rate.....numbers don't lie....but for the last 5 months the Finance Committee has lied to the Iraqi citizens....
It was their actions....NOT the action of the CBI that caused the issues and problems with the exchange rate that caused the USD to skyrocket against the IQD.....supply and demand is tough to change....especially when you do stupid things and expect brilliant results.....
The first couple of articles today point to bold measures the CBI has taken over the last two days with awesome results.....I won't say I told you so....I'll wait for the Fin Comm to bring forward some lame excuse.
Central bank: we have reduced the dollar to 1317 dinars
Someone at the CBI had the audacity to stand up to the Fin Committee and their Article 50.....can't say for sure who that someone is......but I'm suspecting it is at the direction of Dr. S and/or PM Abadi, maybe they are acting in tandem on this issue and have pushed the CBI to challenge the budget Article....whatever and whoever.....there is reason and cause for dancing in the streets in Iraq today it would seem.....
Two days solidly over the $75 million cap....both days over $200 million in sales....and what do we have to show for the results.....the exchange rate difference is down about 100 points.....leave the CBI alone and let them do what they get paid to do....strengthen the Iraqi economy and keep inflation at ultra-low rates and they will produce.....let the politicians (Fin Comm) climb on board and they mess with everyone's dream....
Frank made mention on Monday night that we have nothing to worry with regard to Article 50.....the proof is in the pudding....or the auction results.
Sistani's office: Friday first day of Ramadan .. and Haeri: Thursday surprise holy month
So it is official now that the word has come down from the cleric Sistani's office....Friday is the first day of Ramadan for Iraq and neighboring areas.....I want to caution that this is a religious holiday time, but it does not shut the government completely down.
Abadi adviser: the market will not influenced by conflicts of monopolists to the dollar
Dr. Saleh reports today that while there are those who attempt to monopolize the dollar their efforts will cause no large scale effect on the Iraqi economy.....Dr. Saleh is also recognizing here what the CBI has been doing the past two days...."dumping massive amounts of currency in the market".....which as he says and the numbers prove is reducing the dollar exchange rate.....the Finance Committee has their heads screwed on backwards....typical politicians.
Yasiri: No fears of a rise in the dollar's exchange rate against the dinar
The media is being flooded today with information about the turn around in the dollar exchange rate against the dinar.....an economist talks of it here...pointing out the things the Finance Committee attempted earlier this year and their directives to the CBI to cap currency sales at $75 million per day....obviously fell flat on it's face.....adding Saturday as a day of sales is not causing the current turnaound of things with the exchange rate....the efforts of the CBI in unleashing large amounts of currency in the last two auctions has been the save all here at this point.
Integrity Commission relive more than five billion of public money
So far this year the Integrity Commission has recovered almost 6 billion dinars....out of 9,100 active cases they have settled just over 4,300.....some of these numbers are against the same people due to multiple counts of crimes charged against them.
Parliament rapporteur: draft amnesty law will reach Parliament next week
The Amnesty Law has been approved by the COM and is being written up in the proper format for submittal to Parliament....should get to them some time next week.
Immigration opens an operations room to facilitate smart card issuance
The Ministry of Migration and Displacement has established a special operations room to receive complaints and suggestions from smart card holders....they have also established several hot lines where people can call in with complaints as well.
Deputy: Maliki is acting like a prime minister
Acting like and being are two divergently different things.....old habits are hard to break....especially for a snake.....today he serves largely as a figure head and has little to no authority....tho I am sure he still tries to make others think he does.....go back to sleep.
Province: we do not intend to sever the relationship with Baghdad and we choose legal ways to resolve the crisis
So at least one member of the KRG believes that the Kurds will not sever relationships with Baghdad over unresolved oil and gas issues.....instead choosing to continue to work things through legal channels at least for the time being.....remember the opinion here of one....I am sure that others within the Kurdistan may have different opinions.
Kurdish lawmaker denies the region to export oil without reference to Baghdad
Supposedly the reports that the Kurds may attempt to export oil from the region on their own again are unfounded.....they claim they wish to remain committed to what has been laid out in the oil and gas agreement between Baghdad and Erbil....some are still disgruntled that Baghdad has only provided approximately 40% of their portion of the budget which amounts to 17%.....give and take.....come to an agreement and move forward on it.
It orders the arrest of three ministers and 14 of those with special grades
More stats from the efforts of the Integrity Commission's work.....naming 3 ministers and 14 with special grades who are being implicated in corruption issues.
Parliamentary economy attributes the decrease to the criticism of the central bank lending to the government for $ 9 billion
So just yesterday there were reports that the CBI reserves stood at $68 billion....now today the Economy and Investment Committee is saying it is $65 billion.....do you believe a politician....I didn't think so.....especially this particular politician....she claims the CBI is loaning $9 billion dollars to the government......show me the proof.....if they made such a loan it was with money that the CBI holds that is not a part of their reserves....the reserves are rock solid and untouchable by the government....IMO....this is an attempt to stir the pot.
Chalabi: Maliki will not be able to return to power and the future of al-Abadi, however, the House of Representatives
According to the leader of the National Alliance....no matter what Maliki tries to do he will not come back to power....he spoke of Maliki's failed attempt to declare a national emergency to drag out his tenure as PM.....the people and government saw through his charades though....he makes it sound like Maliki's days are numbered....that would be nice to be true.
Assurances government to cut the dollar and disgruntled citizens from rising market prices
Watch as politicians attempt to pile on to the most recent efforts of the CBI especially when they fully grasp the results of the CBI's actions......meanwhile they continue to point in the wrong directions as to why the dollar exchange rate rose in the first place....pointing a finger at so many others...but all the while three fingers are pointing back at themselves.
The central bank will open three community banks outside of Iraq and the looming presence of the parliamentary financial corruption of the files
The Finance Committee is filing charges against the CBI alleging corruption by the governor for preparing to open three community banks outside of Iraq....in Kuwait, Dubai, and India.....oh mercy me....they are doing business outside the country that must be corrupt.....I hope that egg is the last thing on the face of the Finance Committee from all the backwards efforts they have been leaders in over the past 5 months.
Coffee/cookie break time......let's see what the rest of this beautiful day has in store for us....and don't forget TEAM Chat tonight.