Post From Wealthwatch.world Chat Room
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Wealthwatch Sunday Night Chat 1-3-16
time2rv: the CBI will de-peg from the USD as they move to Article 8 because if they don't the CBI will run out of its reserves. By de-pegging the CBI will give value to the IQD and make it possible for investors to bring their currency into Iraq have it automatically convert into IQD, do business, near a profit, and then automatically move their profit back into their originalt currency and go home with it.
time2rv: once they move to article 8, its a boom
time2rv: 1st quarter this should be all over for us
chattels: ‹@time2rv› I am ready
time2rv: they just cant keep draging without some kinda real move
time2rv: wto and more
chattels: ‹@time2rv› Arguments based upon inevitability never seem to bear fruit
OOTW: TIME2RV I SUPPORT YOUR ENTHUSIASM...I HAVE TO AGREE WITH CHATTELS ON THIS ONE..WE'VE SEEN, IN PAST YEARS, CONDITIONS WHERE IT SEEMED ABSOLTELY ESSENTIAL THAT THERE BE A MOVE TO ARTICLE 8, TO NO AVAIL....
I DO AGREE THAT WITH THE IMF OVERSIGHT'S THAT THE CBI SHOULD BE IMPLEMENTING IMF RECOMMENDED CURRENCY REFORMS
OOTW: ALSO, I DO NOT THINK THAT THERE'S A COINCIDENCE THAT DR'S SALEH AND HAFEZ HAVE COME OUT IN STRONG SUPPORT OF IMPLEMENTING IMF MONETARY/ECONOMIC REFORMS AT THIS TIME –
THIS WAS INCITED BY THE IMF'S PARTICIPATION - SO AGAIN, LIKE YOURSELF, I DO HOPE THE GOVT AND CBI ADOPT ART 8 STATUS/REFORMS/GUIDELINES - ACCEPTANCE...WE SHALL SOON SEE I HOPE
chattels: the Minister of Customs and Trade Turkish Bulent Tovnkja announced Sunday he will open crossing [Habor] border with Iraq in [Şırnak Province] south-east of Turkey as of Monday after closing earlier for security reasons.
Said Tovnkja in a statement to reporters after meeting with and to Şırnak Province Ali Sow and other officials of the Customs in crossing the 500 mechanism will pass to Iraq and 750 mechanism will enter Turkey in the first phase, pointing out that his government is aware of the importance of the Habur crossing for exporters and the inhabitants of the region.
chattels: 00:26:44 2016-01-04 | (Voice of Iraq) - Twilight News spend Tuz administration in Salahuddin province announced that a number of elements of the crowd popular Turkmen opened fire on a number of Kurdish civilians which led to clashes between the two sides.
Flags official Qaimmqamah Tuz Muhammad Fa'iq said that armed clashes and gunfire broke out between a number of the crowd popular Turkmen fighters and citizens Kurd civilians on the main road link between the judiciary and the Baghdad near one shows the sale of cars.
He added that the strength of the Rescue Police went to the scene to control the situation and arrested three of the popular crowd fighters who took the initiative to fire on Kurdish civilians in region. He pointed out that the clashes did not result in any casualties in the ranks of the parties, except for some of the material losses.
Read more: www.sotaliraq.com/newsite...
chattels: When the PMU's finish fighting DAESH then they will be armed to the teeth and ready to fight the Kurds and anyone else, IMO.
OOTW: TY CHATTELS
chattels: Joel Wing @JoelWing2 80% of central Ramadi said cleared almasalah.com/ar/news/669... … LINK
forestnr4: Iraq new 50,000-dinar note (B356) confirmed………www.banknotenews.com
OOTW: WELL THERE SEEMS TO BE PLENTY FOR SALE ON THE WEB
OOTW: PERHAPS THEY'RE TRULY OUT NOW?
OOTW: THANKS FORESTNR4
OOTW: THANKS TO JOYNG WHO BROUGHT IN A LINK FROM AL BAYAN CENTER FOR PLANNING AND STUDIES - THE LINK IS TO A PDF - A PAPER BY DR SALEH DISCUSSION NEEDED MONETARY REFORMS
OOTW: HERE ARE BUT A FEW EXCELLENT EXCERPTS/PARAGRAPHS FROM THIS PAPER
OOTW: C- Recommendations: in order to provide consistency between the portfolio management of the Central Bank’s foreign reserves and the current exchange system, it is necessary to link the Iraqi dinar to a basket of currencies that their weights are identical to the weights of the portfolio.
And the proposed trend to link the Iraqi Dinar to a basket of currencies provides a high degree of disclosure and transparency, and serves, at the same time, two matters:
ne: Providing harmony between central bank independence and neutrality towards the movements of the global monetary system and towards the risks of fluctuations of the global exchange market.
Two: Strengthening governance principles of monetary policy, particularly in the terms of disclosure or transparency.
So, when formulating their investment decisions in the management of the Bank’s investment portfolio, the managers of the Central Bank’s reserves have to take in consideration that their visions should not be limited only to investment criteria,
but they have to use global accounting criteria as well in calculating profits and losses, because modern accounting systems have the ability to clarify concealed things in the decisions taken in the past making it possible to design future decisions in the areas of investment and monetary policy.
Note that quasi fiscal costs might be incurred by the public finances due to low exchange rate of the dinar, perceived or unperceived, which we can find their inverse in the balance sheet of the central bank in the form of quasi fiscal benefits because of the perceived gains.
We say: monetary policy needs to link the Dinar to a basket of currencies instead of being only linked to the Dollar. Then, we will reach the quasi fiscal cost-benefit equilibrium in the state budget and the balance sheet of the central bank at the same time.
OOTW: YOU MAY READ THE ENTIRE PAPER HERE - wealthwatch.world/showthr...
OOTW: THIS PAPER PROVIDES EXCELLENT INSIGHTS AND AN EDUCATION ON THE DIRECTION WHICH DR. SALEH WOULD LIKE TO DIRECT MONETARY REFORM FOR IRAQ
chattels: " ................ we will reach the quasi fiscal cost-benefit equilibrium in the state budget and the balance sheet of the central bank at the same time.", ...............
chattels: Sounds like " fubar " at times, eh ?
chattels: " the quasi fiscal cost-benefit equilibrium "
chattels: " fubar " - a military acronym for "f***ed up beyond all/any recognition/repair/reason/redemption."
dwight j: HELLO EVERYONE
dwight j: TEX ARE YOU HERE
OOTW: HIYA DWIGHT GOOD TO SEE YOU
dwight j: I BEEN WATCHING JEFF DUNHAM
dwight j: WHATS HAPPENING MY BROTHER
dwight j: ARE YOU READY TO SEE WHAT THIS YEAR BRINGS
dwight j: HELLO OOTW HOW YOU BEEN GIRL
chattels: ‹@dwight j› Yes, hanging in / on, and you ?
dwight j: AS ALWAYS JUST WAITING
dwight j: THEY SEEM TO BE MAKING PROGRESS WE CAN ONLY HOPE
Donnie: interesting IMF article regarding congress:
Donnie: Dinar Recaps @DinarRecaps 60m60 minutes ago #dinar "Emerging Powers Rise in IMF as US Unblocks Reforms: by Backdoc and Thunderhawk www.dinarrecaps.com/our-b..
chattels: ISIS takes new territory in simultaneous attacks in Anbar, local tribes fight back
chattels: ERBIL, Kurdistan Region -Islamic State (ISIS) militants attacked several villages and towns in Western Anbar province on Sunday, capturing new territory before being pushed back by security forces and local tribes. In a number of simultaneous attacks the militants overran the towns of Perawan and Baghdadi near Haditha and Hit.
An Anbar government official said that the militants were fought back by the army and tribal fighters in some areas and driven out of Baghdadi.
chattels: Abadi adviser: Iraq stop the development and reconstruction
chattels: " development of a fully parked, there is no investment projects and the budget only dedicated for staff salaries and the purchase of war equipment against terrorist Daash gangs. "
dwight j: I DIDNT KNOW THEY HAD STARTED ANY
chattels: ‹@dwight j› some pundits tell us how 2016 will see a new investment approach by Iraq ?
chattels: Iraq has no money in it's budget for investment according to many news articles. Salaries and the war against DAESH take it all.
dwight j: THEY HAVE TO GET CONTROL BEFORE THAT WILL HAPPEN
chattels: 20% of Iraq is not safe according to Abadi himself.
chattels: President Fuad Masum said, yesterday, that the financial crisis will be one of the big challenges facing Iraq in the new year 2016.
chattels: " The financial crisis requires practical measures and more effective in the fight against corruption and purging the state apparatus of this scourge, which is not less dangerous than terrorism, ". wealthwatch.world/newthre...
chattels: A rocket attack on the US embassy in Baghdad
chattels: 02:45:00 2016-01-04 | (Voice of Iraq) - Baghdad came under US embassy in the capital Baghdad on Saturday night attacked by three missiles by unknown assailants, according to the reported Iraqi security sources.
The sources said that the US embassy had been on Saturday evening to attack with three missiles, pointing to "hear the sound of sirens US embassy ".. No militant group claimed responsibility for the attack on the US embassy in the Green Zone in the capital Baghdad and the heavily fortified.
chattels: Oil prices jump more than 2% [Follow-up - where] Oil prices jumped more than two percent in the first hours of trading in 2016 at a time when relations between Saudi Arabia and Iran have deteriorated in the wake of the execution of Saudi Arabia, a senior Shiite cleric Nimr Baqir al-Nimr.
Saudi diplomatic relations with Iran and cut off on Sunday in response to the storming of its embassy in Tehran in the dispute escalating between the two major oil producers because of the execution of Riyadh cleric Nimr.
Jumped Brent crude more than 2.5 percent and more than a dollar to reach a high level in the morning stood at 38.50 a barrel on Monday, the dollar before falling to $ 38.28 at 0136 GMT. www.alliraqnews.com/modul...
chattels: Interior inaugurates the national card Directorate in Najaf
chattels: A spokesman for the Ministry of Interior during the opening ceremony which was attended by all of Iraq ceremony [where], that "the Ministry of Interior project opened in the provinces of Baghdad, Basra, Samawa and now Najaf, and will be after the project opening in the provinces of Karbala and Dhi Qar."
chattels: In Baghdad, more than one-third of the victims of violence and terrorism for 2015
chattels: the new statistics prepared by all of Iraq [where] it emerged that the victims of violence and terrorism in the capital Baghdad over the past year in 2015 represents more than a third of the total casualties in Iraq's 33 thousand and 718 martyrs and wounded.
According to these statistics it has been killed and wounded in Baghdad in the last year, 12 thousand and 999 martyrs and wounded a rate of 38.5% of the total casualties in Iraq based on the monthly figures issued by the UN mission in Iraq [UNAMI]