Post From Wealthwatch.world Chat Room
News With Links & Discussion
Wealthwatch OOTW News & Comments 1-26-16 Part 1 of 3
CHAT: GOI TACKLING CORRUPTION, ISLAMIC BANKING IN GAZETTE, INCREASING REVENUE & COMPARISON BETWEEN IRAQ & IRAN AND MUCH MORE!!
HOW WILL THE GOI INCREASE REVENUES....
HOW THE GOVT WILL NOW OVERSEE THE INTEGRITY COMMISSIONS WORK -
THIS IS IMPORTANT BECAUSE WE WANT RECOVERY OF MONIES TO BRIDGE DEBT AND ALSO THIS WILL EFFECT THE AUCTIONS TO NEGATE CORRUPTION - YAY!
SALEH MADE IRAQ'S REP TO THE UN!
WHY IRAN AND IRAQ SEEM TO BE ON PARALLEL LINES
AND MUCH MORE!! HAVE A GREAT DAY, OOTW
Donnie: Reuters Commodities @ReutersCommods 22m22 minutes ago Oil volatility surges as hedge funds lighten record short positions: Kemp reut.rs/1ZOb4wk
Donnie: Hedge funds had covered only a small part of their record short position in crude oil by early last week, but it was still enough to send prices surging more than $6 higher over the course of Thursday and Friday.
Hedge funds reduced their combined short positions in the main Brent and WTI futures and options contracts by 16 million barrels, just 4 percent, over the seven days to Jan. 19
Donnie: this is a good read for those that don't know about the affect shorting the market can have on a commodity like oil. also the affect the covering (closing the short position) can have by sending the prices back up.
OOTW: TY FOR REMEMBERING - TO GET INTO THE FORUMS PLEASE CLICK THE WEALTH WATCH GOLD LINK ABOVE -
TO RETURN TO THE CHAT ROOM, PLEASE CLICK THE CHAT LINK TOP RIGHT INSIDE THE FORUMS
OOTW: THAT WAS INFORMATIVE DONNIE TYVM
TxBrand: you can right click it and then open in new window
OOTW: HI TX GREAT TO SEE YOU
OOTW: GOTSTA RUN BBIAW
OOTW: CHA CHING...ISLAMIC BANKING ACT IS IN THE GAZETTE
OOTW: THE YOU KNOW WHAT HAS ELUDED ME
OOTW: TY TO DEBBIE WITH IQDTEAM WHO GAVE ME A GREAT LINK TO SEARCH
OOTW: LOOK AT THIS GAZETTE RELEASE
OOTW: 5. The decision to establish a public company under the name (Rafidain Bank)
OOTW: 5. appointment of Mr. supporter Mohammed Issa Mohammed Saleh, permanent representative of the Republic of Iraq to the United Nations in Geneva number (74).
OOTW: GUESS I'M A NERD..I FEEL LIKE I JUST HIT THE JACKPOT
rocknrollbus: ‹@OOTW› ‹@OOTW› ‹@OOTW› Soooooo.........is Abadi going to replace all his cabinet?
OOTW: WELL THERE WAS A PRESS RELEASE SAYING YES, THEN ONE SAYING NO
OOTW: I'LL WATCH THE CABINET SITE
OOTW: I WANT TO FIND AN ISSUE OF THE GAZETTE WHICH ALSO STATES THAT THE RASHEED ID ALSO BEING PRIVATIZED
rocknrollbus: ‹@OOTW› If they do privatize, will they be able to go after the accounts that hold stolen money?
rocknrollbus: LJ still laid-up?
Donnie: ‹@OOTW› WOW! nice work!!!!!!!
TxBrand: anyone have wang dang cc ? recording ?
faith: So pardon my ignorance...how does the Islamic Banking Act affect the dinar/RV?
OOTW: sorry faith i get distracted by my grandkids
OOTW: we want the islamic banking act to regulate how islamic banks profit from loans and or sales of currency and other instruments
OOTW: some have said that islamic banking law, in part (the law also contains text as such) contains text which speaks to islamic accounting practices pertaining to the law of indebtedness
faith: Thank You!
OOTW: this would curtail profit margins ie interest rates pertaining to loans
OOTW: and currency sale spreads
OOTW: wealthwatch.world/showthr... this thread contains the text of the law
OOTW: so for the islamic banks who sell currency they can only profit from the sales of currency based on need not greed
OOTW: this would tighten the spread for sale of currencies for one
OOTW: islamic law says that (paraphrasing) that the only "extra" that can be charged for a loan or currency sale - can only be what's required to charge so that the bank can restock currency reserves - or so that a loan can be managed but the interest rates cannot be usury
OOTW: so if they charge a spread for currency sales it can only be what's required by the bank to purchase more (in current situation) foreign currency
OOTW: this is one of the regulations we've been looking for to show that the cbi is enacting broader banking standards
faith: Yippieeee! :grin:
OOTW: sorry i missed you bobby..i'm under a tickle attack
OOTW: time to put the grandkids to bed
OOTW: " Iraqi Dinar Currency to be Powerful to Enter in the Global Currency Markets"
OOTW: this article is being flogged as a tell tale that iraq's currency market is going international at another site
OOTW: this is simply another alsabaah opinion piece
OOTW: of what needs to be completed
OOTW: this on the other hand is based on law
OOTW: Memorandum of Cooperation for the construction of an effective banking sector
OOTW: iraq joined the arab league of trade and commerce last summer , their commerce dept signed a trade agreement with the arab unions
OOTW: (of trade)
OOTW: there is a passed law in the gazette regulating arab trade
OOTW: a signed memorandum of cooperation with the union of arab trade
OOTW: 2. The ratification of the Republic of Iraq to amend the Unified Agreement for the Investment of Arab Capitals law in the Arab countries for the year 1980 number (33).
OOTW: this is but one of the laws pertaining to arab trade
OOTW: i have several threads in the forums about ASEAN and arab trade
OOTW: also remember that all cross border trade has been approved
OOTW: the primary aspect to keep in mind with this article is that by proxy of the trade agreements, and because swift is already in working order, the trade between arab banks will be cross-lateral
OOTW: and enacted via trade/transactions
OOTW: time for this researcher to go to bed..have a great night
AuntieMame: OOTW thank you for what you do in this room
OOTW: Thx auntie mame
*SCZIN11: Deputy parliamentary legal demonstrate the readiness of the general amnesty law to vote He revealed a member of the parliamentary legal committee smile Hilali said the amnesty law has become fit to be presented to Parliament and then vote on it certain that there is no disagreement between the political blocs on the following clauses agreed upon.
Hilali said in a statement to Radio tow the committee completed its work with the law and paragraphs pointed out that the law in the coming days will have before the Council in order to vote on it after reading earlier.
With regard to the Federal Court Law Hilali that showed disagreement still exists on one paragraph which is related to vote to pass decisions in the court where he sees the Kurdistan Alliance, it must be unanimous among agree other blocs that have passed decisions of the Court majority, adding that the law can be passed in House of Representatives without the consent of the Kurds.
OOTW: TY SCZIN - WE CAN ONLY HOPE , BUT I DO FEEL AMNESTY HAS A GOOD CHANCE OF PASSING THIS YEAR
OOTW: FROM THE MINISTRY OF FINANCE SITE
OOTW: The Committee of Economic Affairs / third session today Tuesday 26 Kanon the second 2016 under the chairmanship of Finance Minister Hoshyar Zebari and the participation of the ministers of Planning and Industry and Minerals And Trade Agency and the Governor of the Central Bank and Chairman of the National Authority for Investment and adviser to the Prime Minister for Economic Affairs and Director General of the Legal Department of the Secretariat, has been researched and review before the Committee ministries issues.
The Committee also reviewed the proposals of the committee meeting with a large number of experts and the two economies and banks Iraqis on January 20 to follow up and implement the suggestions and recommendations to cut costs and increase revenue and to emphasize the practical and operational procedures to meet the pressing financial crisis
OOTW: BREAK HERE ARE THE CABINET DECISIONS FOR THIS WEEK
OOTW: Discussed the Council of Ministers, the measures taken by the government to address the problem of the Mosul Dam and put the necessary plans by the competent committees formed for this purpose, he said moving government proceedings and to give the subject of the dam of extreme importance to ward off any potential danger, and the use of international expertise in this area.
The Council decided in its meeting held today (Tuesday January 26 2016) under the chairmanship of Prime Minister Dr. Haider Abadi, the following:
OOTW: approval of the open tender German company Bauer and analysis as well as Trevi company, and to report to the Prime Minister for guidance on assignment in the light of the results of the analysis, and are subject process Conquest and analysis to control the legal department at the General Secretariat of the Council of Ministers.
OOTW: Taking into account the circumstances of the displaced, the Council decided the Ministry of Finance / national retirement and the ministries and departments body is related to the Ministry to provide all the necessary facilities and assistance for the completion of pension transactions displaced employees who have attained the age of legal age for referral to retirement and speed up the completion and audit fundamentalist in order to instruct,
regardless their pensions without delay and take into account humanitarian circumstances Cairo and in coordination with the relevant authorities, that the pledge is taken from the employee ended his services that discharged innocent and otherwise deducted dues that his trust of Roatbh pension includes staff from areas that are outside state control now.
OOTW: The Cabinet decided that the Ministry of Finance launched earmarked for the Iraqi Media Network grant in the federal budget for the financial year / 2016 amount.
The Council also agreed to an amendment regarding its decision to facilitate the granting of visas to the Republic of Iraq measures (the adoption of the former security agency approval and Rhoda for the issuance of visas for expatriates all.)
OOTW: and approved the Cabinet to approve the recommendation of the Committee on Economic Affairs and included approval of the draft accession of the Republic of Iraq to the grain trade agreement of 1995,
which entered into force on 01.07.1995, and forwarded to the House of Representatives, along with the approval of the Project accession of the Republic of Iraq to the Second Protocol to the Hague Convention of 1954 Special Protection of Cultural Property in the Event of Armed Conflict, which entered into force on 04.09.2004 Law, and forwarded to the House of Representatives.
Comments may be made at the end of Part 3 Thank You Part 2