aggiedad77 » February 26th, 2014, 10:03 am •
Good Morning Frank....and Family
It is time to wake up and grab a cup of coffee/tea and grab the news summaries...there has already been much good news IMO
Get it while it is hot
I believe the CBI is talking again.....indirectly....and maybe through some others....but they are talking and we should be paying attention and reading with purposeful intent....we have seen talk of monetary values down to the "fils" level in one article.....Parliament MP admits they can't touch CBI funds
There are even claims by the Iraqi's that their currency is being traded at US banks.....are you kidding me.....I'm thinking that this could very well be a slip of the tongue....and "OOPS" that signals some things to come very soon.....Enjoy
Read More Link on Right
Wednesday Morning News Summaries
Council of Ministers announce decisions eighth regular session
Here are some notes of the latest COM meeting, chaired by Maliki.....there are nine separate points made in these notes and I don't think that any of them are related to our investment, so I am not going to list them individually....except for one that talks about the Finance Ministry approving to pay the contribution of the Rafidain Bank in the capital increase program by the Arab Trade Financing to the tune of 161 shares at $5,000 dollars per share for a total of $805,000 dollars...just a little insight as to how some of these banks are able to raise their capital.....also of note in this article is how they grammatically write out amounts of money....mentioning down to the "fils".....for example (31,951,769,819) Thirty-one million nine hundred and fifty-one thousand seven hundred and sixty-nine dinars eight hundred and nineteen fils....to the best of my knowledge we usually see them just say "dinar" after the large number....makes one go......hmmmmm.
KRG’s Central Bank Director: There is money in public banks, but no reserves
The Director of the CBI in the Kurdistan says that the public banks have no reserves and the private banks have sent them money....so as yet, no banks are facing bankruptcy.....here is an interesting note that is found in this article....there are 73 private banks in the Kurdistan....whose capital is estimated to be around 18 trillion dinar....they are required to pay 15% of that to the CBI in Baghdad....this is based on a CBI rule that without doing this the banks would not be able to operate in the whole of Iraq.
A parliamentary committee warns of salary cuts and the withdrawal of Central Bank reserves
The Economic Committee has stated that the federal government will resort to a package of measures to meet the fiscal deficit of the state budget (the 2014 budget).....the most important of these measures is a withdrawal of CBI reserves and with the capital of the Rafidain and Rasheed Bank's capital they will make available stocks and government bonds for sale.....let's see how this evolves and who is the custodian of these sales.
Turkey banks cover up to $ 30 billion from the region fled secretly
It appears that the Turkish government and Turk investors have in excess of $30 billion dollars deposited in Kurd banks....this is some of the money that is keeping the Kurds afloat at the moment.....these deposits are earning annual interest to the tune of $9 billion dollars...that finds its way into pockets of officials of the Kurd government, Kurd officials and Turkish officials....that is a bunch of money to pad pockets with.
Jubouri: economic and political climate is favorable for the deletion of zeros from currency
The Finance Committee announced today that the political climate and economical situation is right for the deletion of the 000's....this committee MP states that it would be appropriate for the next legislative session of the new government to open the issue of deletion of the 000's.....I'm thinking that the CBI will be the one to pull that trigger....and don't believe they need to wait on the Finance Committee to give them approval to do so.....remember the GOI does not have its hands in the business of the CBI.
Pictures .. document theft of billions of dollars with the approval of al-Maliki
I am not as concerned about the "theft" of money that this article talks some about....as I am about the theft of weapons and ammunition that it speaks of falling into the hands of terrorists in the Anbar region....this is not good....if the US Congress gets wind of this.....there will be heck to pay....more reason to shut down the deal on the Apache helicopters....one would think that the Iraqi military would do a better job of guarding shipments such as these.
Shwan Taha: State of Law coalition has become the hub of the problems in the country
Here is a Kurd MP in the Baghdad Parliament speaking out....against the State of Law bloc....that they are the ones truly causing much of the problems and issues, especially with Anbar and between the Iraqi List bloc and other independents.....of course, in this light the Kurds are completely innocent of any wrongdoing.
American Firms Line Up for Kurdistan, as Erbil Mulls US Ties
A long list of American firms are reaching out into the Kurdistan region....this list includes name brand hotels, Pizza Hut (hold the canadian bacon), Cinnabon, and Ace Hardware....as prolific as this list may sound....the US business ventures in the Kurdistan have been overshadowed by others from Turkey, Lebanon, and the UK....who is the partner of choice at the moment in the Kurdistan....though political relations between the Kurds and the US are strained at the moment....the Kurds do welcome US businesses into the region....and they are heavily active in the oil and gas sector as well as security and construction.
President Barzani: Cutting Budget Equals ‘Declaration of War’ by Baghdad
The President of the Kurdistan region....Barzani....says that Baghdad's actions in blocking Erbil's share of the budget is an "act of war" against the Kurd people....it is an illegal act....it is unfortunate....but the people have become the political football in the budget crisis at this point....meanwhile the Speaker of Parliament Najafi wiggles his way into this picture by saying that he is mediating between the two group to find a peaceful resolution so the budget can be moved forward....he is also not in favor of the blocking of the Kurd's portion of the budget....they are basically saying that the issue is not with Shiite people but with the leadership in Baghdad.
Parliamentary Finance: It is not permitted to interfere in central bank policy
Yesssss....can I get an AMEN.....someone within the government is finally waking up to the fact that they can't get their grimy corrupt hands on the money in the CBI....two different entities.....I've been saying that for some time now....oh how that must frustrate some.
Deputy: political parties are visiting the Iraqi currency in neighboring countries
It is so incredible how articles swing so far one way or the other.....we have repeatedly seen articles since late last year that say the counterfeiting issues within Iraq are at a level of less than 1% per so many bills received at the CBI....they have this issue under control.....yet here making headlines is a MP of the Economy and Investment Committee making noise that measures to protect Iraqi currency is useless....maybe it is time for a field trip to the CBI to see first hand how things are being handled....what this article does do is point to the action of removing the 000's from their currency and the issuance of new currency....can we say LD's.....with better security items embedded within the bills....then some member of the Finance Ministry spouts off that the currency is so reliable that it is now being traded in US banks.....hmmmmm.....did he just "hiccup" and provide a hint of Iraqi currency being traded with US banks....SOON.....very interesting.
The news thus far today has been very exciting.....well I know I am excited by what I have read so far.....will end here so you can see what has been going on. Randy