boxman :Guess this means we should be on the lookout for the lower denoms...
will be interesting to see their appearance...
Frank26: This month DRS said by next month.
Pray for consistency in their accomplishments of the MR.
strongcbm :hummmmm.... "by" next month.... Dictionary.com....by=not later than; at or before: I usually finish work "by" five o'clock. PRAYING FOR CONSISTENCY ! ! !
ZOCHOWSKI: AFTERNOON "STRONGCBM"
IMO, WE NEED TO REMEMBER "NEXT MONTH" WAS STATED EARLIER IN JUNE...
THAT BEING SAID, THIER NEXT MONTH WAS RAMADAN WHICH STARTED LESS THAN 4 DAYS AGO............
WHOS TO SAY THEY WERE "NOT" TALKING BOUT RAMADAN?????????
KEEP THIS IN MIND, IS ALL AM SAYING........G/B M/Z
Pc1rock: Just thinking... IMO... Is the CBI and the GOI looking to give the people of Iraq a gift before Edi??? Since it its a time for giving too... It would be christmas in July!
boxman :HMMM... not giving the citizens dinars, for their deposits...Hmm...(see article below)
Frank26: LOL........ Caught that did You grasshopper?
Tell me ........ When are dinars more valuable than a Powerful USD?
Regardless of what their laws say.
KTFA Frank..... Master Card anyone?
walkongstick: Central Bank directed to pay deposits of citizens "in dollars, not dinars"
Author: Publisher on:June 20, 2015In:
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic expert on behalf of Jamil Anton said the central bank has directed that all banks to pay deposits of citizens in dollars and not in Iraqi dinars.
He added Anton's (IMN) that "the orders issued by the Central Bank that depositors dollar citizens pulling their money in dollars and can not give them irreplaceable in Iraqi dinars, because the currency rate differs within the bank and outside," noting that "the bank when let loose deposits of citizens be at a reduced price 1200 up outside the bank, while up to 1,400 during the past few days. "
Anton explained that "Action taken by the central bank to raise the proportion of 8% of the income tax and fees at the present time come for the benefit of the country so that the compression process resulting from the rise of the dollar exchange rate in recent stop."
And the expert that "the central bank took measures have led to a marked decline in the dollar exchange rate due to the sale of high quantities of the dollar after it was selling 75 milliondollars under Article 50 of the instructions and the budget and reached 203 in last Thursday.
Anton pointed out that "coordination between fiscal and monetary policy in Iraq and take important measures will mitigate the rise in the dollar as well as a reserve nearly 68 billion dollars in the Central Bank, explaining that it" factors leading to thwart the scheme, which sought the black powers to lift the dollar and the creation of cramps in the local markets.
fbs :Good afternoon everyone and I have a comment than a question. Remember family we was taught when the CBI speaks we should listen. They are speaking and I am listening. Now Frank my question for you Sir are you hearing something different than end of year for 50000 Dinar notes and paying citizens in dollars? I am just saying the elephant is in the room. So you might as well ask why its sitting there.Thank you for your answer.
Frank26: Deception is magnified by illusions like cardboard tanks at the borders of a nation.
Keep in Your thoughts they cannot replace or issue anything new ....... That does not exist.
Or ....... Just because we see Jurassic Park as a movie does not mean dinosaurs are real....... Wink.
DLB: I know many people are hurting both physically and monetarily, praying and asking God for a blessing. Yesterday while in my alone time I believe the Great Spirit revealed something to me and I will share with all of you. Please, do your own research. This is my opinion only.
Could it be that a neighbor of Iraq is about to revalue its currency? A neighbor that has been a thorn in Iraq's side forever. A country that was $3 plus to one of its currency.
We know that the powers that be, P5 + 1 placed sanctions on Iran and the Iraian Rial. We have heard Our leaders say June 30 2015 is the deadline for a deal. We have heard Iran say that the only way is if all sanctions are lifted. ALL SANCTIONS LIFTED.
The Iraian Rial is around 29,500 to one U.S. dollar. But it was 3+. We have a date from our own leaders, June 30 2015. Have I had a vision of things to come first? Or am I way way off.
Regardless I bought all the Rial yesterday I could believing I am right. Do your own research and form your own opinion. But I believe all sanctions will be lifted off Iran June 30th this year and I believe the Great Spirit showed me this to share with all of you. JMO, food for thought, and we only have 10 days.
LIKE YOUR THINKING............YES, JUNE 30TH IS THE DEADLINE PERSAY, WITH IRAN SANCTIONS LIFTED/WORK ON A DEAL WITH NUCLEAR STUFF, I BELIEVE..........
THIS IS ALSO THE "NEW" DATE THAT GREECE PUT OUT TO PAY 1.5B ??????????????
WILL GO WAY OUT NOW, I BELIEVE F26 MENTIONED SOME ITEMS OF IMPORTANCE WHEN IT WAS STATED WITH A GIVE "MATH PROBLEM" THAT I FOUND TO BE VERY INTRESTING............RAMADAN EXPECTATIONS WHICH WERE AT ONE POINT 30%TO 40% TO HAVE DROPPED FROM 30% DOWN TO 19%............
TO ADD FURTHER, WITH ANOTHER ITEM CONCERNING THE ARTICLE8/8% I FIND THIS ALSO TO B COMPELLING..........
AND I LOVE THIS ONE!!!!!!!!!! "KEY WORDS", REALLY???????
I WOULD LIKE TO SEE KEY ABBREVIATIONS............LIKE "RI" FROM THE "CBI/IMF" ONCE THE "GOI" DECIDES TO PASS THE "AMNESTY LAW" WITH THE "INTERNATIONAL GUARD LAW".............
THEN WE HAVE THE "BONDS" TO SELL FROM THE "ISX"............
THEN LATER WE CAN SEE THE "RV" DOWN THE ROAD.......... ANYWAY, G/B M/Z
Thunderhawk » June 20th, 2015, 3:39 pm Backdoc Alert
ECB's Nowotny says Grexit would costs less today than two years ago: report
The costs of a Greek exit from the euro zone would be significantly less today than it would have been two years ago, European Central Bank governing council member Ewald Nowotny told Austrian newspaper Der Kurier in comments published on Saturday.
"Two years ago there still was an acute danger that a collapse of Greece would have negative consequences on other southern countries. Today this is different," Nowotny said when asked about the costs of a so-called Grexit.
"The yield on bonds from Italy, Spain and Portugal has barely risen, not least because of the monetary policy of the ECB. The markets see Greece as a special case. The costs of a Grexit for Europe would be significantly less today than two years ago."
Thunderhawk » June 20th, 2015, 4:11 pm
Weekend of fear in Greece as debt impasse has banks and locals living day-to-day
Dorothea Lambros stood outside an HSBC branch in central Athens on Friday afternoon, an envelope stuffed with cash in one hand and a €38,000 cashier's check in the other.
She was a few minutes too late to make her deposit at the London-based bank. She was too scared to take her life-savings back to her Greek bank. She worried it wouldn't survive the weekend.
"I don't know what happens on Monday," said Lambros, a 58-year-old government employee.
Nobody does. Every shifting deadline, every last-gasp effort has built up to this: a nation that went to sleep on Friday not knowing what Monday will bring. A deal, or more brinkmanship. Shuttered banks and empty cash machines, or a few more days of euros in their pockets and drachmas in their past - and maybe their future.
On a street corner, a performance artist burned what he said were his last euros. Nearby, an Afghan beggar joked about how he should have gone to Sweden instead. A mother grabbed her toddler's hand as a dozen policemen motorcycled past, heading to a rally outside Parliament. And in his neighborhood restaurant Panagis Vourloumis, a 78 year-old ex-CEO, current investment banker and survivor of coups, dictators and communists, leaned forward and laid his worries on the table.
"We thought we had escaped the past, that we were a normal country now," he said. "But instead, we are living day-to- day."
"This, today now, is the worst I have ever seen," he said.
For Greeks, the fear is that Monday will be deja vu, a return to a past not that distant. Before the euro replaced the drachma in 2002, the Greeks were already a European bete noire, their currency mostly trapped inside their nation, where cash was king and checks a novelty.
Since December, Greeks have been preparing for a weekend such as this, pulling more than €30 billion out of banks. Week after week, the Bank of Greece borrowed banknotes from the rest of the continent to replenish this hoarding of the one asset Greeks still trust - cold, hard cash. Its liabilities to the rest of the euro area for the excess physical cash it has to put into circulation quadrupled between December and April, the last month for which there's available data.
Without access to capital markets, Greek lenders have to rely on almost 86 billion euros of Emergency Liquidity Assistance to stay afloat, subject to weekly boosts by the European Central Bank. This time, it didn't last a week. On Friday, the ceiling of the so-called ELA was raised by €1.8 billion, just a couple of days after a €1.1 billion injection. On Monday, the banks will be back, asking for more.
Everything comes together on Monday. Greek Prime Minister Alexis Tsipras, back from a visit with Vladimir Putin in St. Petersburg, will spend his weekend coming up with a proposal to take to a Monday showdown with euro-area leaders.
Greece's negotiating team met on Saturday to discuss the bailout talks and the country's cabinet will gather in the prime minister's residence on Sunday morning for talks. ??
A deal on Monday is key. The bailout agreement that's kept Greece from defaulting expires June 30. That's the day Greece owes about 1.5 billion euros to the International Monetary Fund.
In an interview published Saturday in Brussels-based l'Echo newspaper, Greek Finance Minister Yanis Varoufakis warned that the ruling Syriza party could be replaced by neo-Nazis if Greece ends up defaulting and leaving the euro.
Without at least an understanding among the political chiefs, Greek banks will reach the limits of their available collateral for more ECB aid. The country then may have to impose capital controls to stem the withdrawals, said David Mackie, an analyst at JPMorgan Chase Bank in London
This is not how it was supposed to end. So sure were Greeks of the permanence of the euro that when they minted their own €1 coin, they paid homage to a 5th century drachma, among the world's oldest currencies.
Before the European project, Greece had spent decades in turmoil. Since the Nazi occupation during World War II - still an irritant during 21st century bailout talks - it has seen a civil war, a military junta, a tussle between Communists and anti-communists and in the 1980's, an inflation rate over 20 per cent.
A member of NATO since 1952, the 11-million strong nation joined a precursor to what became the European Union in 1981, allowing it, finally, full access to international debt markets.
Those very markets, coupled with an embrace of Europe, kick-started two decades of increased public spending on pensions and government jobs, and private investment in shipping and infrastructure.
"There was a general sense of euphoria - you could get a job with the government, real estate prices kept going up," said Vourloumis, who has run banks and telecommunications companies and battled unions along the way. "And then, with the European debt crisis, the whole thing was revealed - our economy was built on protectionism, on borrowed money."
As 2001 drew to a close in Athens and fireworks lit up the skyline, the drachma was dead, and euros took over, the final step in Greece's integration into Europe.
This weekend, a dozen-and-a-half years later, Greeks face the possibility of being the first to leave the euro behind.
"Monday will be difficult," said Lambros, the worried woman with the bundles of cash in Athens. She planned to spend the weekend watching television news and worrying about the future. If the country left the euro, she asked, "What am I supposed to buy food with?"