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Wealthwatch Saturday Afternoon OOTW Chat 1-16-16 Part 2 of 2
OOTW: And he entered the House of Representatives in the legislative recess on December 16 last, after the legislation the federal budget law for the current year, announcing that he will resume its sessions held on 16 January, but he returned and decided to extend his vacation another three days.
She attributes MP beautiful al-Obeidi, a member of the national coalition, to extend the legislative recess, "the Presidency's commitment to the Rules of Procedure which states in one of its paragraphs to hold weekly meetings, which starts from Tuesday to Monday followed by a weekly holiday and then come back after the hearings again."
OOTW: SIMPLY STATING WHY THEY POSTPONED NEXT SESSION TO JAN 19
OTW: She said al-Obeidi, told the (range), that "the most important point will focus on the House of Representatives in the next dismissal is pass a general amnesty law, which is complementary to national reconciliation and preparations are underway between the three presidencies have at the present time."
She noted a member of the national coalition headed by Iyad Allawi, that "Parliament is waiting send oil and gas law by the government for legislation," asserting "the pursuit of parliament in the next chapter to the organization was able to bear arms, however, state laws."
OOTW: THIS SECTION IS STATING THAT AMNESTY, AND NATIONAL RECONCILLIATION ARE NOW BEFORE JOBOURI, ABADI, AND MASSUM AND THEIR RESPECTIVE COMMITTEE'S
OOTW: ONCE THOSE ARE PASSED THEN THEY WILL TACKLE THE TEXT (REVISIONS OR FORMATION OF) OIL AND GAS LAW
OOTW: I DO NOT SEE OIL AND GAS A PRECURSOR TO AN "R---V" OY
OOTW: HOWEVER, IT'S VERY GOOD TO SHOW COHESION BETWEEN ALL PROVINCES INCL KURDISTAN
OOTW: REMEMBER WE STILL NEED TO SEE A FINAL READING (UNLESS, AGAIN, THEY CHANGE THE AMOUNT OF VOTES NEEDED TO PASS LAWS AS THEY INFER ABOVE) OF THE FEDERAL REVENUE SHARING LAW
OOTW: THE FEDERAL REVENUE SHARING LAW HAS HAD TWO READINGS AND WORKS IN CONJUNCTION WITH THE HCL
OOTW: IN CONCLUSION...
OOTW: And emphasizes beautiful Obeidi MP that "it is necessary to activate the conscription law in order to integrate the factions of the popular crowd and the sons of the tribes in the Ministries of Interior and Defense," revealing "the existence of ongoing talks between the political blocs to pass these laws in the next legislative term."
OOTW: SO THE NEXT TERM STARTS IN THREE DAYS
OOTW: I SURE HOPE THAT THEY SPEED THINGS UP
OOTW: NOW WE HAVE TWO ARTICLES RE THE CBI
OOTW: TY TOOTSIE
OOTW: Tootsie: Central: not donate gold religious shrines and hired us to buy it 01/16/2016 17:03 Long-Presse / Baghdad Denied Central Bank of Iraq, on Saturday, reports by the media about donating gold religious shrines, and as he emphasized that all religious shrines buys gold from its own funds, he pointed out that the thresholds used the bank to buy gold from guaranteed sources.
The general director of version and cabinets in the Iraqi Central Bank Ihsan Shomran in an interview to the (long-Presse), "The reports by the media that talked about donating central bank gold religious thresholds are baseless," noting that "religious shrines buys gold from its own funds ".
He Shomran, that "the religious shrines in Karbala, Samarra, Najaf and Kadhimiya cost the central bank to buy her a gold on the grounds that he knows secured sources," adding, that "religious shrines paid all amounts of gold bought by the Iraqi dinar and the corresponding dollar, the Central Bank".
He Shomran, that "the central bank bought the upper threshold of 100 kg of gold imported from the origins guaranteed and put Bkhozainh until it was withdrawn by the threshold."
The number of Iraqi media revealed "about the Iraqi Central Bank to provide 100 kg of pure gold for the purpose of gilding the dome of the shrine of Imam Ali (peace be upon him) in a project launched by the upper threshold for the restoration of stones and paint the dome."
The upper threshold management, announced Friday the (15 of December Althaa 2016), to begin the second phase of the project re-gilding the upper dome using 100 kg of gold, and pointed out that phase will include the installation of more than nine thousand pieces of gold, and as pointed out that the Last gilding process of the dome has between 1969- 1970, he confirmed that the project will be finished within this year.
OOTW: I DO NOT HAVE MUCH TO SAY ABOUT THIS, MUCH AS BEEN SAID ABOUT THE COINS ANYWAY - LET'S SEE IF THEY DO IT
OOTW: THE PUT OUT A PRESS RELEASE ABOUT SUCH COINS TOO IN I THINK 2012 OR 2013 - AND NOT MUCH RESULTED FROM THAT
OOTW: AGAIN, WE WAIT
OOTW: HERE'S THIS ARTICLE
OOTW: Central Bank: Iraq has the hard currency enough to cover imports only six months
OOTW: Governor of the Central Bank announced that Iraq has the hard currency enough to cover imports only six months, while the central bank plans to issue international bonds two billion dollars, during the current year 2016.
OOTW: The governor of the Central Bank on the Keywords in a statement to the newspaper "Morocco today," that Iraq possessed of hard currency enough to cover imports only six months, pointing to "intensify efforts towards borrowing from international institutions to bridge the fiscal deficit."
OOTW: He assured the Governor of the Central Bank of the citizens of the lack of fear of the rise in the dollar's exchange rate against the Iraqi dinar "revealing" Ask a local bonds worth $ 5 billion to provide liquidity to the state. "
OOTW: He added that "the central bank has foreign currency is the weakness of the local currency in the market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking, and may also involve other goals I do not want to enter into details; because this increase is certainly within the indicators it is natural, but you referred for the withstand central bank policy certainly both, which is an emergency on the market. "
OOTW: THE AUCTIONS ARE A MESS
OOTW: LET ME POST THE REST AND THEN I'LL COMMENT
OOTW: He said the "local currency derives its strength from the reserve of foreign currency, and how much you can last that covers local"
He stressed Keywords: "We can respond to the request of the dollar, no matter how its size, and there are no fears of the impact of the exchange rate," adding that "the financial reserves of the Central Bank is the number variable and the day of the limits of $ 68 billion and the size of the money supply of the dinar 40 trillion dinars."
OOTW: FIRST OFF, WE SAW MANY ARTICLES STATING THE RESERVES HAVE BEEN DEPLETED TO 59 BILLION
OOTW: THIS 68 NUMBER HAS BEEN FLOATING AROUND FOR A LONG WHILE NOW
OOTW: IN EFFECT, MOHSEN IS SAYING THAT HE CANNOT FULLY COMMENT AND ALL OF THE REASONS AS TO WHY THE MARKET RATE FOR THE DOLLAR HAS BEEN SO HIGH –
ONLY THAT THERE ARE THOSE THAT TAKE ADVANTAGE BY SELLING THE IQD FOR HIGHER PRICES - AND THAT THERE NEEDS TO BE ADHERENCE TO CBI POLICY IN THE AUCTIONS
OOTW: HE SAYS THAT THERE ARE PLENTY OF FOREIGN RESERVES ($)
OOTW: AND THAT THERE SHOULD BE NO PANIC OR CONCERN OVER THIS
OOTW: "WE HAVE PLENTY OF DOLLARS TO SELL " (VIA AT CBI OR VIA STREET VENDORS, ETC)
OOTW: HE SAYS THAT IF THE MARKET SELLERS DO NOT GET IN COMPLIANCE WITH CBI RATE POLICIES - MARKET PRICES - THAT THIS WILL (OVER TIME) CAUSE AN EMERGENCY SITUATION RE THE CURRENCY MARKETS
OOTW: THIS ENTIRE ARTICLE FEELS LIKE SMOKE TO ME
OOTW: I DO NOT BELIEVE THEY HAVE EVER BEEN HONEST ABOUT THE RESERVES
OOTW: AND HERE, MOHSEN IS DISMISSIVE OF THE SITUATION
OOTW: PEOPLE ARE VERY ANGRY ABOUT THE COST TO BUY DOLLARS
OOTW: AND NOW WITH THE INFLUENCE OF THE IMF (WATCHING THEIR MONETARY POLICY - AND CERTAINLY THE CBI IS THE ONLY CONTROLLER OF THIS - ALTHOUGH ART'S STATE THE GOI WANT TO INTERVENE - WE WAIT ON THIS ONE TO SEE)
OOTW: I THINK THAT MOHSEN/CBI HAS TO BE SEEN ADDRESSING THIS SITUATION AND HE NEEDS TO SHOW THE CBI CAN GET A GRIP ON THIS AND IMHO, HE'S DONE A POOR JOB, FOR WHATEVER/VARIETY OF REASONS
OOTW: AND I WILL BE VERY SURPRISED IF HE CAN MANAGE THE AUCTIONS TO MAINTAIN A 2% OR LESS SPREAD, WITH ANY SUCCESS
OOTW: MOHSEN'S PIC ON MY DARTBOARD NOW
OOTW: HE NEEDS TO GET IT IN GEAR OR GO
OOTW: HOPEFULLY THE LATTER
OOTW: THIS IS JUST RIDICULOUS
OOTW: BECAUSE I TRULY SEE THE MARKET RATE FLUCTUATING ALL OVER THE PLACE
OOTW: I HOPE WE SEE MORE ARTICLES WHEREIN HE'S TRYING TO JUSTIFY HIS INCOMPETENCE
OOTW: THEN I WILL FEEL GOOD HE'S GOING TO GO
OOTW: AND I AWAIT THE NEXT SALEH ARTICLE RE MOHSEN'S (INEPT) ACTIONS AS CBI GOVERNOR
OOTW: SO THE TITLE INDICATES THAT THE CBI HAS ENOUGH TO COVER IMPORTS FOR 6 MONTHS
OOTW: IS HE SAYING THAT THEY TRULY DO HAVE ENOUGH RESERVES OR THAT THE AMOUNT OF RESERVES THEY HAVE OF DOLLARS WILL ONLY COVER SIX MONTHS OF TRANSACTIONS?
OOTW: THE TEXT OF THE ARTICLE ITSELF STATES THE CBI IS FINE
OOTW: SO THE TITLE INDICATES SENSATIONALISM TO DRAW READERS
OOTW: I WILL LOOK FOR MORE ON THIS
OOTW: THE IMF HAS STATED IN THEIR REPORT WHAT IRAQ NEEDS.....WE WATCH THE LAWS THEY ADVISE NEED EITHER PASSING OR IMPLEMENTATION AND THE AUCTIONS..
ALTHOUGH - SOME HAVE SPECULATED THAT THEY MAY RELEASE THE VALUE OF THE CURRENCY BEFORE THEY MOVE TO ART 8 (CURRENCY REFORM PRIOR TO ACCEPTING ART 8) AND THEN THEY MAY ADJUST THE RATE AFTER THOSE TWO MOVEMENTS
OOTW: IT'S GREAT THAT THE INVESTMENT LAW IS IN THE GAZETTE NOW PRIOR TO THE END OF FEB DEADLINE OOTW: SO-------THE WAY THE PARLIAMENT/HOR PASSES LAWS, IS NOW VERY IMPORTANT
OOTW: SHAWKI IS STATING THAT THE GOVT WANTS TO EXPEDITE LAWS - HOW THEY'RE PASSED - TO GET REFORMS GOING IN THE COUNTRY
OOTW: THE IMF RECOMMENDATIONS AS WELL AS THIS POTENTIAL EXPEDITING OF LAWS, DO NOT SEEM ISOLATED OOTW: THERE IS A CONNECTION, EVEN IF SMALL
OOTW: HOWEVER, I THINK IT'S PARAMOUNT AND THE GOI KNOWS THIS