10-25-12 Mountainman: There was a story today about the auctions being obscured for an "unknown" reason. Something big is coming!! Security forces have surrounded the CBI and barred entry and exit and arrested a group of employees who were sentenced arrest warrants by the Iraqi judiciary.
This is a major takeover going down now. Kobler and the United Nations are watching this situation very closely as it develops. There is only one reason for the urgency to gain control over the central bank at this time.
A historic revaluation is about to take place before January just like the CBI has stated many times. Hang on to your seats, the ride is about to kick into high gear.
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10-25-12 Freebird: Fox Business News broke an interesting story today. US Vice President Joe Biden's younger brother is building 100,000 homes in Iraq. James Biden has been the executive vice president of Hill International’s housing subsidiary despite little if any documented work history in residential construction.
Both Hill and Biden are on the verge of a huge payday, beneficiaries, some analysts believe, of James Biden’s connections to the Obama Administration through his older brother. The Iraq project may be the most lucrative single development in Hill’s history.
It's always a great sign when the big fish start to jump on board. This investment is stronger than ever and will be over by January at the latest. All the recent excitement and power plays are simply a result of that.
10-25-12 Miskebam: Very little meat to add to the "there is a breakthrough" bit from the Iraq Ambassador to the US. Kurdistan still calls "no confidence" in Maliki. Sadr still calling him a dictator. Arab organization says Iraq actions on demonstrators reminds them of Saddam, and they learned nothing form the Arab Springs. Still no date for an actual National Meeting.
There are PLENTY of CONTRACTS to the Iraqi People from the elected officials for the holiday. I'm certain the People are very appreciative of the sentiments *insert blue dye dipped Iraqi voting middle finger here* Probably LOTS more news, but that's all I have time for. Gotta get the leaves bagged before it rains. Blessings! –Miskebam
10-25-12 LoriC: Banking expert - The idea of transforming the private banks to financial institutions will organize their work and promote the national economy. "Banking expert Mohsen Ali called the need to transform the private banks to financial institutions large to enhance the financial assets and organization of work, which will promote the national economy.
The idea of the central bank to convert the private banks to financial institutions large through integrated will organize its work and enhances its financial position by increasing financial assets.
Some private banks declared bankruptcy in recent because there is no law discreet organizes its work and the absence of strict control and follow-up by the central bank while if turned into financial institutions large will develop their work and contribute to the advancement of the national economy.
Private banks when running large financial institutions will make its ability to promote the economic reality of the country, it works a special law by organizing its work under the supervision of the central bank or government agencies other affiliates.
This confirms the CBI that the number of private banks reached in Iraq to 40 banks while capital is still weak and need to be that banks more aggressive with each other to form a capital strong.
Referred to the government banks dominant 92% on the domestic market and private banks do not exceed their dominance of the 10% it does not take space from Iraqi market, according to the central bank. The CBI seeks to restructure private banks in line with the general structure of the Iraqi market and the nature of its relationship with other global markets."
10-25-12 Zigmeister: Okay so the tinkering is making the auctions public. Transparency. Actually this is probably a very good idea. It is. It is (part of Basel) also the response of our President of the United States stated when Shabibi was thrown from the bus, "Whatever you do make sure its transparent."
So here we are. Actually all the complaints about the auctions the underlying complaint which got lost in translations was probably "transparency." But Shabibi apparently did not seem motivated to do so.
I think this is excellent news. It means to me, that he is taking a big step forward in building Iraq. So he goes more US citizens with green will follow. Isn't this what we want to see?
Building infrastructure, building homes they sorely need, employing Iraqi's as well. So they make some green, Iraqi's have affordable homes that otherwise is sorely lacking.