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Wealthwatch OOTW News & Comments 1-27-16 Part 3 of 3
OOTW: I DO THINK WE'RE GOING TO SEE SOMETHING HAPPEN WITH THE CBI THAT WILL FORCE THE AUCTIONS TO CHANGE OR STOP
OOTW: BUT REMEMBER THE IMF REPORT SAID THAT IRAQ IS STILL MAINTAINING THEIR PEG TO THE USD
luckyinkentucky: with the auctions being a great source of revenue for the cbi, I see this being a struggle
OOTW: BUT THIS TOO IS A FLUID SITUATION AS THE COUNTRY MOVES TO ADDRESS THE CORRUPTION IN THE AUCTIONS
OOTW: YES AND BUTI AND I ANALYZED A GREAT DEAL OF CBI LAW LAST WEEKEND
OOTW: AND THE CBI CAN DO WHATEVER THEY WANT WITH THE AUCTIONS, AS THE LAW NOW STANDS...THEY VALIDATE THE ALLOWANCE OF THE STREET MARKET PRICES OR THEIR SPREAD PRICE IS NEEDED IN ORDER FOR THEM TO BUY/PURCHASE FOREIGN CURRENCY/USD
OOTW: THE VIDEO PRESS RELEASE I POSTED LAST NIGHT STATES THAT IRAQ WANTS TO MOVE AWAY FROM THE FOREIGN CURRENCY AUCTIONS
OOTW: BUT THIS HAS BEEN PREVENTED BY THE ENTRENCHED CORRUPTION
OOTW: IT'S FUNNY TO ME THAT THIS WAS SAID BY AN MP WHO IS ALSO ON THE LIST PUT OUT MONTHS AGO OF SHIA'S IN THE GOVT PERFORMING CORRUPTION WHO ARE TO BE PROSECUTED
OOTW: THEY DO TURNABOUTS REAL FAST LIKE
OOTW: IN THE PRESS
luckyinkentucky: does parliament have the power to overide cbi policy?
OOTW: SALEH PUT OUT A PRESS RELEASE IN THE PAST MONTH
OOTW: TWO TICS I'LL PULL IT IN
OOTW: BTW GREAT QUESTIONS AND I AM LOVING THE INTERACTION
OOTW: LET ME QUOTE SALEH
OOTW: BEAR WITH ME BECAUSE I HAVE TO POST A LOT OF THE ARTICLE TO VALIDATE THIS
OOTW: He said the appearance of Mohammed Saleh in an interview with the (long-Presse), said that "Article 26 in the central bank law stipulates prevent the central bank from lending to the government a harsh material terms of developing in response to the former regime's policies,
but in light of what, in Iraq today and the need possible financial liquidity adjusted to allow the lending of money is part of the government treasury. "
luckyinkentucky: thanks a lot for the education
OOTW: Saleh added that "there are a lot of countries worked on this thing and there are about 50 similar material to the material (26) in the central bank law to the state to help in the financial tragic situations," adding that "lending is not at any time, but when the state is in dire need to financial liquidity. "
Economic adviser said that "lending must be not from the current year's budget, but from a previous year's budget and possible borrowing is 10% of the fiscal deficit in the general budget of the country, or 15%, according to the agreement with the government or be a lending rate of 10% of the total Government spending over a year and must be paid during the year can also be foreign currency lending if the Iraqi government external obligations. "
OOTW: Saleh stressed that "this step does not prevent the independence of the central bank because it will be in a limited way and the content of the law and this is possible to make the central bank relative independence of the law," pointing out that "the Central Bank reserves come from the government, it is not unreasonable when you need government and the central bank abandoned, especially and that Iraq is going through difficult circumstances. "
It is said that a number of legal and House of Representatives demanded that the Iraqi Central Bank Amendment Act in order to assist the Iraqi state in its current financial crisis Adin, he can amend the law because of the paragraphs not classified in the Iraqi constitution.
OOTW: PRIMARY ASPECT HERE
OOTW: "It is said that a number of legal and House of Representatives demanded that the Iraqi Central Bank Amendment Act in order to assist the Iraqi state in its current financial crisis Adin, he can amend the law because of the paragraphs not classified in the Iraqi constitution."
OOTW: NOW REMEMBER THAT THERE ARE TWO BANKING LAWS
OOTW: ONE ISSUED BY THE GOVT
OOTW: AND ONE BY THE CBI
OOTW: ABOVE, YOU CAN SEE THAT SALEH IS TALKING ABOUT BORROWING FROM THE CBI TO BRIDGE DEFICITS
OOTW: THE KEY ASPECT HERE IS THAT AS THE LAW NOW STANDS, THE GOI CANNOT INTERFERE
OOTW: BUT SALEH IS SAYING THAT THE CONSTITUTION DOES NOT PROTECT CBI LAW, LAW , LAW
OOTW: SORRY HAVE TO RESTATE THAT DUE TO THE LACKING IN THE TEXT APPLICATIONS HERE IN CHAT
OOTW: IT IS MY OPINION THAT THERE IS A CHANCE, BECAUSE OF ALL THE PRESS RELEASES WHICH HAVE COME OUT ADDRESSING THIS,
OOTW: THAT SALEH WILL DO WHAT NEEDS TO BE DONE TO ADDRESS THE CORRUPTION IN THE AUCTIONS
OOTW: IF HE HAS TO AMEND THE BANKING LAW WHICH THE GOVT HAS AUTHORED TO OVERRIDE THIS SITUATION, I BELIEVE HE'LL DO IT
OOTW: AS I BROUGHT INTO CHAT TWO DAYS AGO
OOTW: THE GAZETTE HAS PUBLISHED A LAW MAKING SALEH THE OFFICIAL REP TO THE UN FOR IRAQ
luckyinkentucky: That would be great to see because it is hard to imagine reform while corruption is so rampant
OOTW: I WANT TO BELIEVE THAT ABADI, SALEH AND THE ECONOMIC COMMITTEE WANT WHAT'S BEST FOR THE PEOPLE, BUT ALSO HAVE TO BALANCE THE NEEDS OF THE ECONOMY SINCE OIL HAS DROPPED
OOTW: LUCKY, AGREED
OOTW: AND THAT'S WHAT ALL OF THESE PRESS RELEASES ARE CALLING OUT
OOTW: THE NEED TO ADDRESS CORRUPTION TO BENEFIT THE PEOPLE AND ABADI'S GOVT HAS MADE SO MANY AGREEMENTS WITH COUNTRIES FOR MONIES, THAT THEY DO HAVE TO BE SHOWN ACTING AGAINST CORRUPTION
OOTW: THEY GOVT IS ACTIVELY FINDING WAYS TO BOLSTER THE ECONOMY APART FROM OIL REVENUE
OOTW: AND THIS, LONG TERM, IS WHAT'S GOING TO SUPPORT THE CURRENCY
luckyinkentucky: how can they ever increase a market economy while the goi monopolizes most services
OOTW: MUCHO ACTIVITY GOING ON TO BOOST EXPORTS/IMPORTS
OOTW: THERE WAS A MOVE OVER A YEAR AGO TO MAKE GOVT INSTITUTIONS PUBLIC
OOTW: SO MANY OF THOSE HAVE BEEN AND ARE STILL BEING DIVERSIFIED
OOTW: REMEMBER THEY TOO ARE WORKING TO MAKE THE RAFIDAIN BANK PUBLIC
luckyinkentucky: I wasn't aware of that
OOTW: AND I BROUGHT THIS LAW FROM THE GAZETTE INTO CHAT TWO DAYS AGO
OOTW: YES, LUCKY, THIS ANNOUNCEMENT ABOUT MAKING GOVT COMPANIES PUBLIC WAS ANNOUNCED AS APPROVED BY THE COM OVER A YEAR AGO
OOTW: AND THERE IS EVIDENCE THEY ARE DOING THIS
OOTW: THE IRAQI INVESTMENT SITE (SPONSORED BY THE GOI) POSTS VALIDATION OF THIS
luckyinkentucky: that is good to hear
OOTW: AND SO DOES THE MOP
OOTW: ABOVE I POSTED AN ARTICLE OPENING UP PUBLIC INVESTMENT FOR THE PORT OF FAW
OOTW: THERE'S DIVERSIFICATION
OOTW: WE JUST NEED TO SEE A HARD HAMMER COME DOWN ON CORRUPTION NOW
luckyinkentucky: thank you for taking the time to educate
OOTW: THANK YOU, WHEN PEOPLE ASK QUESTIONS, IT HELPS ME TO IMPART WHAT LITTLE KNOWLEDGE I'VE GAINED IN MY YEARS IN THIS
OOTW: ALSO BECAUSE I LOOK AT THIS EVERY DAY, I DON'T READILY RECALL WHAT IS WAS LIKE TO HAVE QUESTIONS OTHERS MIGHT HAVE
luckyinkentucky: I don't read as much as I used to. I listen to the cbi and they are fairly consistent in their statements
OOTW: 5. The decision to establish a public company under the name (Rafidain Bank)
OOTW: I HAVE NOT YET HAD TIME TO SEE IF THERE IS ALSO A LAW RE THIS FOR THE RASHEED
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: I AM A RESEARCHER AND I ABHOR THE TERM GURU - FOR ANYONE
OOTW: THAT'S A TERM RESERVED FOR HINDI'S AND OF THE SPIRIT
OOTW: I TRY NOT TO BE UNBIASED
OOTW: SO IF PEOPLE THINK WE'RE REPORTING NEGATIVE NEWS WHICH DOESN'T FEED THEIR NEED TO GET AN ADRENALINE FIX, SO BE IT...BUT I FEEL THIS ONLY LENDS CREDENCE TO THE RESEARCH WE ALL DO HERE
luckyinkentucky: hahaha....I agree. I have followed your research for a long time. Thanks for the contribution
OOTW: FOR YOURS TOO
OOTW: IRAQ IS ON THE HOT SEAT
OOTW: AMONG THE WORLD
OOTW: THEY HAVE TO BE SEEN ADDRESSING THIS
OOTW: AND I BELIEVE THEY WILL - I STILL AM NAGGED BY MAHMOUD'S POST ON THE SJC, BUT HIS NAMED SUCCESSOR HAS SEEMINGLY BEEN ISSUING MOST OF THE ANNOUNCEMENTS OF LATE
OOTW: Abdul Sattar Bayrakdar
OOTW: www.iraqja.iq/view.3167/ PICTURED FAR RIGHT
luckyinkentucky: I'll believe it when he's gone
OOTW: ME TOO
OOTW: BUT REMEMBER HE'S WIDELY KNOWN IN IRAQ FOR TAKING REAL ESTATE BRIBES
OOTW: AND THIS IS THE KEY THING THE GOVT WANTS TO GO AFTER RE CORRUPTION
OOTW: SO WE'LL SEE
luckyinkentucky: I have to run for now but I will return more often. Thanks again
OOTW: THANK YOU TOO
OOTW: HAVE A GREAT DAY
luckyinkentucky: you too
Donnie: Great read! Great analysis with supporting documents. TY OOTW
OOTW: TY DONNIE
OOTW: I WANT TO SAY TO EVERYONE......REMEMBER THAT ISSUES HAVE TO BE EXPOSED TO GET ADDRESSED
OOTW: OR HAVE THE CHANCE OF BEING SO
OOTW: IT FEELS DARK WHAT WE'RE GOING THROUGH RIGHT NOW...BUT IT WILL GET BETTER
OOTW: WE HAVE TO SEE THESE THINGS COME OUT - I WOULD ENCOURAGE YOU TO SEE IN YOUR MINDS AND HEARTS, THAT THESE 'DARK' ISSUES WILL BE CONQUERED WITH LIGHT
OOTW: I REALLY DO BELIEVE THAT
OOTW: HERE IS THE LINK TO TODAY'S CHAT wealthwatch.world/showthr...
Doug_W: TY OO
Abraham: ‹@OOTW appreciate all your hard work. Let me say the relationship with the IMF is to help Iraq make a transition to a market economy. That in itself encompasses on many streams that lead to the one river if I may put it that way. I am confident that the IMF with the support of the World Bank and the United Nations will leave no stone unturned in the process. It will be time consuming but one day you will wake up and be amazed at the results.
OOTW: THANK YOU ABRAHAM
Abraham: Because Stagnant and polluted water is being addressed in creeks and streams that will filter into the main river of global transition. This transition is bigger than any one individual. It is the development of a model that will transform the Middle East. Man's agenda may be Iraq, God's plan is so much Bigger!
OOTW: :) THANK YOU
Abraham: Some will understand, some will not because as an apostolic individual God has blessed me to see into the Spiritual Realm and I say that with much humility.
Abraham: i know you understand and I thank God for that!
Donnie: Iraq Live Update @IraqLiveUpdate 9m9 minutes ago Ayatollah Sistani is 'deeply concerned' of Iraq government's failure to tackle corruption, may take further steps..
Donnie: Oh My. look at this beautiful building. I'd love to travel to the ME to see these building in person.
Donnie: Ayatollah Sistani issues advice to believing youth
Donnie: Barzani of the Kurdistan region declares bankruptcy
Donnie: The President of the Kurdistan Regional Government Nechirvan Barzani, on Wednesday, for the bankruptcy of Kurdistan region of Iraq, stressing that there was no money in the region.
Barzani said in remarks reported by "Rouado" and seen by / information /, that "in fact, there are no funds with the Kurdistan Regional Government, is there worse than to have the government money and distribute it?". Barzani said that "the biggest challenge to the Kurdistan region now is the financial issue."
Barzani pointed out that "all our attempts aimed to secure salaries, our priority is the fight against Daash and secure the salaries of the Peshmerga, then ministries and other institutions and the salaries of insurance." Finished / 25
Donnie: Monthly budget deficit in Iraqi Kurdistan reaches $406 million
Donnie: HEWLÊR-Erbil, Kurdistan region ‘Iraq’,— Iraqi Kurdistan Region’s monthly budget deficit has reached 450 billion Iraqi dinars, or roughly $406 million, the region’s deputy prime minister said on Wednesday.
Donnie: read more here: ekurd.net/kurdistan-month...
Donnie: Saturday, January 23, 2016 - 02:00 CBI Says Let the Market Decide Currency Rates
Donnie: The post-sanctions economy offers the promise of revitalizing the economy, said Valiollah Seif, governor of the Central Bank of Iran. Tapping into bank loans and the foreign exchange market are at the forefront of measures to lift the economy in the new era, he added, ILNA reported.
“We should let the market decide the real rates and avoid interfering with market mechanisms or rate setting in the forex market,” he said calling for “genuine” foreign exchange rates.
Donnie: “We should let the market decide the real rates and avoid interfering with market mechanisms or rate setting in the forex market,” - I like this line of thinking.
Donnie: That was a good article.