MASTERCARD IN AND OUT OF IRAQ???

GOOD SATURDAY MORNING EVERYONE, THINGS ARE GETTING EXCITING NOW AREN’T THEY? THE ANTICIPATION IS BUILDING AND VERY SOON REALITY WILL SETTLE IN BRINGING THE MAGNITUDE OF WHAT IS ABOUT TO HAPPEN TO OUR LIVES.

WE DID A RECORDED CALL YESTERDAY FOR RECAPS TO TRY TO EXPLAIN SOME BASIC BANKING AND TRADE RULES. HERE IS THE LINK TO THE CALL PLEASE LISTEN IT CLEARS MANY THINGS UP.

https://www.freeconferencecallhd.com/playback_breda.html?n=DnyJW/dpx16

WE ALSO EXPLAINED HOW THE EXCHANGE WILL BE COVERED AND WHAT WE CAN EXPECT. ON THAT CALL NOVA SAID HE WILL GET EXCITED AND KNOW THEY ARE INTERNATIONAL WHEN SOMEONE FROM IRAQ CAN COME HERE TO 7-11 AND BUY A SLURPEE WITH THEIR DEBIT CARD.

WELL NOVA WHAT FLAVOR SLURPEE DO YOU WANT?

LISTEN EVERYONE TODAY RAFIDIAN BANK GAVE OUT MASTER CARDS INSIDE OF AND OUTSIDE OF IRAQ. THIS TAKES US SO MUCH CLOSER TO INTERNATIONAL. THIS IS A PILOT PROGRAM AND A BIG STEP WHEN THEY ACTIVATE THE PROGRAM. THIS IS DESIGNED TO BE ABLE TO TAKE CASH FROM ANY MASTER CARD ATM TERMINAL, THIS NEWS IS MAJOR..

SO NOW WE ARE WAITING FOR PRESIDENT MASOUD TO SIGN THE BUDGET AND THEN OFF TO THE GAZETTE IT GOES. THIS SHOULD BE DONE AT SOME POINT TODAY.

THE NATIONAL RECONCILIATION COUNCIL IS MEETING FOR THESE 2 DAYS. LIKE WE DISCUSSED BEFORE THEY COULDN’T GET THIS COUNCIL MEETING OFF THE GROUND BECAUSE THERE WAS NO MONEY TO FUND THE DIFFERENT PROJECTS AND NEEDS OF THE TRIBES.

THERE IS QUICK MOVEMENTS TAKING PLACE AND WE SHOULD SEE THE END SOONER THAN LATER. WE WILL BE WATCHING FOR FURTHER PROGRESS AND BE SURE TO KEEP EVERYONE IN THE LOOP.

LOVE TO ALL…. MY LADIES

Rafidain Bank issued card [MasterCard] to customers both inside and outside Iraq

Saturday, December 31 2 / January 2015 08:33

Rafidain Bank, announced on Saturday for Mbacherth issuing card [MasterCard] to its customers in its branches inside and outside Iraq.

According to a statement of the bank, the agency received all of Iraq [where], a copy of it today, “The bank issued a pilot of MasterCard cards offering used all over the world for being a manifestation of modernism in the banking business.”

He explained that “this service check several privileges the most important dispense the use of paper money.”

The statement noted that “cardholder can also withdraw his money from his own account in any province or state be present without the need to carry cash.”

The General Secretariat of the Council of Ministers, called in earlier this month, ministries and departments not related to the Ministry and the provinces all urged the staff to use the smart card instead of cash in order to “cash trading to reduce their high risk, and maximize liquidity in Iraqi banks, and the expansion of credit capabilities, including achieves stimulate economic and investment activities, “noting that” those banks willing to provide deposit and withdrawal outlets in places that fit employees’ .anthy 

http://alliraqnews.com/2011-11-25-01-42-40/48-2014-06-14-07-47-45/165310-2015-01-31-04-38-47.html

Rafidain Bank issued card (MasterCard) to its customers both inside and outside Iraq

Rafidain Bank, announced on Saturday for Mbacherth issuing MasterCard card to its customers in its branches inside and outside Iraq.

According to a statement of the bank received for News Agency (et) a copy of “The bank issued a pilot of MasterCard cards offering used all over the world for being a manifestation of modernism in the banking business.”

He explained that “this service check several privileges the most important dispense the use of paper money.”

The statement noted that “cardholder can also withdraw his money from his own account in any province or state be present without the need to carry cash.

http://www.khabaar.net/index.php/permalink/40887.html
Millionday  Friday Night News 1/30 2015  Part 2

preacherman: Just got here. Are we in the Gazette yet?

Millionday: THE BUDGET HAS NOT BEEN PRINTED YET

faith1: millionday ,, didn’t we read in your first article that they want to make it easy / remove obstacles for the investors at the meeting ?

Millionday: YES — THEY ARE USING EXPERTS TO HELP THEM TO CREATE THE EASIEST IN THE WORLD INVESTMENT LAW AS THEY PUT IT –

Millionday: NOTE — THIS COMES DIRECTLY FROM THE NATIONAL RECONCILIATION

Millionday: The Concepts of the Civil Society

The civil society evolves from modern social and economical  compositions, i.e. classes, professional categories, or any other interest groups. These changes in the Western countries were taking place synchronously with the capitalist and urban transformation, citizenship rights,
~~~

Millionday: and the birth of the modern concept of the national state. Although the factn that the loyalty to the national state should follow that absolute allegiance of its citizens, as a normal embodiment for the whole society,

however, a subsidiary objective allegiance manifests according to the individual selfinterest, hereby the allegiance concentrates in the class, profession, district, etc…

Thus, voluntary organizations emerge and their sphere extends to include the numerous interests of people, like political parties, trade unions, syndicates, clubs, and social institutions.

Millionday: NOTE – THE ECONOMIC CONDITION OF A COUNTRY IS INTERWOVEN — IN THIS CASE THIS IS IRAQ — AND OBVIOUSLY IT INCLUDES TRADE UNIONS AND THE ECONOMY THE CONSTITUTION PROVIDES

Millionday: The relation between the civil society and the democratic transformation seems clear and logic. Democracy is a set of basis for ruling the state and its institutions by means of peaceful administration of the relations between the various competitive groups and discordant interests.

Therefore, the fundamental measure for the civil society is the same fundamental measure for democracy. For instance, if we displace the system of the direct democracy in “Athens” or in “the city council”, we’ll find out that the CSOs are the best channels for public’s participation in rule.

Millionday: Civil Society Organizations and the National Reconciliation Process Civil society organizations have many advantages that may enable them to play an effective role in portraying a positive image for citizenship and national unity, as follows;

1 – Neutrality.

2 – Independence of decision-making.

3 – High effectiveness, especially after the extensive development of networking.

4 – The wide range of social and geographical effect.

Millionday: NOTE — THIS IS FROM ALL PARTIES AND ALL GOV INSTITUTIONS — INCLUSIVE OF OPPORTUNITY

Millionday: 5 – The societal legitimacy as a result of manifesting the voluntary and the non-profitable sides of the organizations work.

The CSOs could empower the principle of citizenship, which is considered the real concept for the national unity, through the following;

– Spreading the culture of citizenship and non-violence in their varied programs and activities.

– Spreading and development of the culture of dialogue, respecting the opposite opinions, and renunciation of the practices of exclusion and marginalization policies against any race or class.

– Development of their programs to combat ignorance, under-development, and illiteracy.

– Development of awareness campaigns, and spreading the knowledge on international agreements and protocols related to Human Rights field.

– Establishment of principles of the participative democracy and reconstruction of Iraq.

– Coordination, networking, and impact to redraft the constitution, exclude it from the entire racist, sectarian, or any other discriminative forms, and abolition of all the articles conflicting with the national unity, or threateningsocial fabric.

Millionday: NOTE — THIS IS LIKE THE REFERENCE FOR RECONCILIATION BUT — NOW COMES MORE ON WHAT THIS MEANS ECONOMICALLY

Millionday: The International Compact is an international initiative to strengthen the partnership between Iraq and the International community, it aims to implement a framework that seeks to achieve the national Iraqi vision aiming to achieve the demands of the Iraqi people in laying down the foundations for a united democratic state that is secure and stable, where all citizens have equal rights and duties,

Millionday: SMILE >>> it also seeks to set the foundations for a prosperous economy with a varied production base that can provide the requirements needed for sustainable development according to market factors, one that is open and assimilated with the world and other economies in the region,

in particular those of the neighboring states, making Iraq an effective member of international and regional organizations with the ability to offer aids to needy and underprivileged countries, allowing the private sector to play a leading role in economic activity,

Millionday: WHOOPOW

Millionday: with a special role for the government in regulating this activity, protecting it from the effects of external turbulences, protecting the poor and underprivileged communities from deprivation and starvation and to provide proper standards of public social services for Iraqi civilians.

Millionday: NOTE — THEY ARE TO HAVE AVAILABLE BENEFITS FOR THEIR CITIZENS

Millionday: Internationally, the Compact lay down a work frame of mutual commitments inspired by the Madrid 2003 conference, the Abu Dhabi September 2006 Meeting, and the Kuwait October 2006 Meeting with the objective of a secured, stable and prosperous Iraq,

where good governance practice is prevalent and human rights are strongly secured by the sovereignty of law, other objectives include the sustaining and strengthening those commitments for the entire duration of the Compact and beyond,

Millionday: NOTE — THIS IS THE REASON THAT ALL ARE EXCITED FOR THEIR POSITION TO BE PREPARATION FOR THE CONFERENCE OF NATIONAL RECONCILIATION –

 THE REST HAS BEEN DONE AND IS SET FOR THE COUNTRY — CIVIL IS AN ONGOING — HOWEVER THE ECONOMIC PICTURE IS THE TURNING OF A PAGE THEY HAVE NOT DONE YET IN THE MARKET

Millionday: , as well as recognizing the achievements of the new Iraq as represented through the adoption of a constitution in November 2005, the conduct of parliamentary elections in December 2005, according to which the first permanent cabinet was formed in May 2006.

Millionday: NOTE — THE BUILDING OF THE NEW IRAQ

Millionday: READ EVREY WORD>>>The International Compact declaration pointed out that security and political challenge, implementation of good governance practices and provision of basic services are major demands for progress in all other fields, including economic revitalization.

The Compact was firmly based on belief in the assumed interdependent relationship between peace and economic prosperity, national reconciliation, enhancing security and good governance, resuming economic and social reform are all important aspects of unleashing the Iraq development potential.

Millionday: WHOOOPOW

Millionday: The declaration also stated that applying the joint vision for Iraq’s future successfully requires the rejection of terrorism and extremism, holding debate, fostering national reconciliation, formation of professional security forces that are loyal solely to the homeland, hard efforts to eliminate terrorist threats, and finally coming up with a feasible solution for the merging of militias into security forces.

Millionday: NOTE — WE OF COURSE HAVE BEEN WITNESSING THAT

Millionday: The declaration determined the major outlines for Iraq’s political and security needs as part of the governmental program and the national reconciliation plan, thus the following points are to be considered essential demands for the creation of a stable country and a robust society, so as to achieve reconciliation between the various components of the Iraqi people.

Millionday: NOTE — HERE ARE THOSE COMPONENTS

Millionday: • Rejection of terrorism and actively attempting to quell it, rejection of violence targeting the state and violence amongst ethno-sectarian groups in the country.

• Respecting the sovereignty of law, including civil freedom and human rights.

• Building a democratic, federal Iraq that is united and sovereign.

• Adding a consensual pattern to federal democracy through a process based on unanimous consensus.

• A fair distribution of resources.

• Cooperation with neighboring states based on mutual interests.

Millionday: NOTE — SO SOME BELIEVE THAT IT IS ALL CIVIL AND ALSO COMPLIANCE WITH DEMOCRATIC SYSTEM — HOWEVER — IT IS ALSO THE RIGHT TO PROSPER FOR ALL –

Millionday: The declaration also stressed that international partners will offer administrative, technical and financial support to aid Iraq in facing challenges as part of their mutual commitments, so that Iraq rejoins its regional and international sphere on a plateau of mutual respect fuelled by an effort to achieve mutual interests, the Compact stresses the Iraqi government’s commitment to combat corruption,

Millionday: which reflects the government’s responsibility toward its civilians so as to instill practices and institutes that are transparent whereby state employees are held accountable for their actions, the Compact’s major objective is the construction of a united, democratic Iraq where all citizens enjoy an equal distribution of resource regardless of their backgrounds.

Millionday: NOTE — THE DISTRIBUTION OF WEALTH IS PART OF THE NATIONAL RECONCILIATION

Millionday: >>>>>>The achievement of prosperity is an important aspect of this vision, as experiences in other regions have shown that continuous growth in employment and quality of life must be led by a strong, varied private sector.

The government has an important role to tend to in several ways, such as efficient administration of oil revenues, creation of a legal regulatory framework that rules the entire economy, protects the vulnerable groups and provides security. However, the true source of economic blossom must pass through the private sector.

Millionday: NOTE — THIS IS VERY VERY IMPORTANT FOR EVERYONE TO READ

Millionday: The programs for investment and reform were also discussed in detail in the declaration, so as to fulfill the mutual commitments that both the government of Iraq and the international community will carry out jointly.

The procedures for reform and investment will be part of a mid-term financial framework that will help meet fiscal expectations within this mid-term duration.

The Compact also put in place a time frame for the work of international partners, including tangible financial obligations that are part of government reform efforts based on an internationally-recognized frame work by which the needs of Iraq are inspected.

Millionday: NOTE — HUGE PART OF THIS REPORT —- UNDERSTAND — THIS IS PART OF THE REFORMS WRITTEN RIGHT HERE

Millionday: NOTE — THE REFORMS ARE BUILT ON AN INTERNATIONALLY RECOGNIZED FRAMEWORK

Millionday: WHOOPOW

Millionday: The declaration ends by providing a summary of the coordination, execution and follow up steps, list the assessment operations in alignment with the advisory team operations, 

also based on ongoing national plans and aidcoordination mechanisms such as the national development strategy for example, sector work groups and other teams, enforcing them whenever need arises to reflect demands and arising development

Millionday: SO THIS IS OBVIOUSLY PER ANNOUNCEMENTS OF IRAQ THE CURRENT PHASE WE ARE IN RIGHT NOW — THE PHASE OF REFORMS AND THE GOV PROGRAMS AS WE READ LAST NIGHT

Mary: Do you have access to the Gazette once everything is printed ? Like will you know right away or do you have to learn of it by other means. thanks..

Millionday: THE GAZETTE IS NOT ON-LINE — HOWEVER IT WILL BE TOLD IN A PRESS STATEMENT SO IT WILL BE KNOWN RIGHT AWAY

faith1: the Compact’s major objective is the construction of a united, democratic Iraq where all citizens enjoy an equal distribution of resource regardless of their backgrounds. what does ..The procedures for reform and investment will be part of a mid-term financial  framework …mid term ?

Millionday: IT MEANS THAT THEY HAVE PLANNED TO FINANCIAL PORTION TO BE AFTER SOME OF THE THINGS HERE WERE DONE AND THEY HAVE BEEN –

 SECURITY AND LAWS FOR THE CITIZENS AND CIVIL ACTIONS WITH —- THE LAWS THAT HAVE BEEN PUT IN PLACE FOR A CIVIL COMMUNITY — A SOCIETY THAT PROTECTS THE CITIZEN

msdiva: Millionday do you think we are still on the 15 day schedule for the signing of the Budget?

Millionday: THE PRESIDENT TOLD PARLIAMENT THEY COULD NOT TAKE A HOLIDAY TO RUSH THE BUDGET AND CBI HAS FUNDED THE DEVELOPMENT BANK SO I WOULD THINK IT WAS SOONER DUE TO THE HUGE RUSH AND THE CONFERENCES ETC THAT ARE SCHEDULED –

 BUT AT THE END OF THE DAY IT IS ALL UP TO THE PRESIDENT

messenger: A reference was made to mid term goals how long is that midterm is it a year or two years of the four-year term of Abadi

Millionday: THE MID-TERM GOAL IS THE MIDDLE OF RECONCILIATION AND THIS PLAN FOR IRAQ —- 

THERE IS MORE TO BE DONE AFTER THEY HAVE COMPLETED THE EMPOWERMENT OF THE PRIVATE SECTOR IN THE NATIONAL RECONCILIATION PLAN – 

THIS IS TALKING ABOUT THE MIDDLE OF THE PLAN ITSELF WILL SEE THE ECONOMICAL THINGS DONE

Papatom: one thing i noticed is the participation of international companies training the iraqi’s… that will enable them to become proficient in a short time to operate in a new world and make money to support a nice lifestyle working in different careers with competence….

and the cost will be born by the individual corporate partners…FORD … G.E. …. APPLE…. Standard Charter ….. it’s very complete…..

Millionday: YES — THAT GOES ALONG WITH THIS PLAN STATING THAT THIS WILL BE WITH INTERNATIONAL RECOGNITION —

 THE ECONOMICAL PARTNERS ARE THE INTERNATIONAL COMMUNITY AS WE SEE IN THE ENTIRE CHANGING PLAN OF NATIONAL RECONCILIATION WHICH BEGAN DAY ONE AFTER AND DURING THE SANCTIONS

Millionday: WE HAVE NEWSTIME TOMORROW AT 730 EST

http://www.dinarupdates.com/observer/

http://www.dinarupdates.com/blog/

http://www.dinarupdates.com/showthread.php?15048-Millionday-1-30

Millionday 1/30 2015  Part 1

Millionday: A commission of economy and investment representative, on Thursday, in its quest for new legislation to balance the country’s investment supports and encourages international companies to enter the Iraqi market, as shown in detail it would hold a conference on the law early next month.

Millionday: NOTE — THEY ARE HOLDING A CONFERENCE NEXT WEEK ON THE INVESTMENT LAWS FOR THE INTERNATIONAL INVESTORS TO COME INTO IRAQ

Millionday: The committee member said Osman Haji told / information /, “The decision, announced by Prime Minister Haider al-Abadi in Davos recently about Iraq’s intention to take, is to serve the enactment of new laws and investors, particularly the private sector.” 

Haji said that “the economic and investment commission agreed with the need for legislation Abadi new laws favorable atmosphere for investors in order to encourage them to enter the Iraqi market.”
~~~

Millionday: NOTE — THE PIRVATE MARKET WORKING WITH AND INCLUDING INTERNATIONAL MARKETS IS A MARKET ECONOMY — FREE TRADE WITH GLOBAL SALES AND RECOGNITION

Millionday: He explained that the “investment opportunities to be provided by law for foreign investors, is the industrial sector, and residential and commercial, and tourism, and other fields,

as well as sectors that an investor asked to work out,” noting that “what concerns us is the investor, so he would not find it difficult to invest if it came to Iraq. “

Millionday: NOTE — THE GOAL IS TO GET RID OF AS MUCH RED TAPE AS THEY CAN AND ALSO PROMOTE THE ENTRY OF AS MANY COMPANIES AS THEY CAN FOR A SUCCESSFUL DIVERSE ECONOMIC DEVELOPMENT

Millionday: Haji said that “the economic and investment commission will be held at the beginning of next month’s conference to explain the work of the new law to be enacted mechanism in the presence of investors and businessmen from inside the Iraqis and Arabs as well as foreigners.”

Millionday: SO THIS IS THE INVESTMENT CONFERENCE — WHICH IS SCHEDULED FOR NEXT WEEK – SMILE

Millionday: The General Company for Iraqi shows, on Wednesday, to continue Tbagesha with a number of neighboring countries and across the commercial attaché working there the possibility of establishing an Iraqi markets at home and those countries Kuwait, Iran, Egypt and the UAE.

Millionday: NOTE — THE IRAQI SHOWS IS TO EXPAND IRAQI BUSINESSES TO OTHER COUNTRIES — THIS IS POSSIBLE ONLY WHEN INTERNATIONALLY RECOGNIZED

Millionday: The Director General of the department Sarmad Taha Saeed said in a statement reported for “Twilight News”, said his company is now working on the development of plans and proposals and mechanisms for the promotion of cycle 42 next to the Baghdad International Fair addition to conducting interviews with curators to mount exhibitions specialist of some countries on the land of the Baghdad International Fair, or in provinces safe through coordination timings according to a timetable to set up.

Millionday: He noted that the company after its contract with the Islamic Republic of Iran will start Iranian specialist in all Iranian products in the energy and power, infrastructure and food during the second half of next February and exhibition areas over three days with the participation of more than 250 Iranian companies.

Millionday: NOTE — THEY ARE EXPECTING TO EXAPND IN THE SECOND HALF OF FEB — THAT IS VERY SOON – WHOOPOW

Millionday: He noted that his company is happy to and within the activity in the import and export has granted nine licenses to issue and renew total 3 identity export and ratification 4 certificates of origin in 1038 and the granting of import license and the issuance of 118 identity and renewal of import 69 import identity.

Millionday: SO WE ARE TALKING ABOUT LICENSING AND CONTRACTS — THIS IS NOT THE MOU`S WE SAW BEFORE OR PLANS ETC — SO OBVIOUSLY ACTION AND PROGRESS INTERNATIONALLY IS EXPECTED —

The Shoe: And you are certain they have to have a tradeable currencey prior to that happening?

Millionday: THEY HAVE TO HAVE A TRADABLE CURRENCY BEFORE THEY EXPAND THEIR PRODUCTS TO THE GLOBE WITHOUT A DOUBT

Millionday: THE FIRST PRODUCT OF ALL COUNTRIES IS THEIR CURRENCY –IT HOLDS THE VALUE OF WHAT YOU WILL EARN`S VALUE

Millionday: WHY ISNT IT A PIECE OF PAPER ? — BECAUSE IT IS CALULATED FAIRLY BY THE INTERNATIONAL PRICE INDEX CALCULATION THAT IS USED BY THE GLOBAL MARKET

Millionday: Gulf Arab oil states may need to rethink longstanding economic policies, including their fixed exchange rates, over the next couple of years as economic cycles in the region and the United States diverge. The deflationary trend will impact the region as hard-times emerge and the economies decline into 2020.

Millionday: NOTE — THE WORLD BANK IS TALKING ABOUT THE MIDDLE EASTERN REGION AND THE PEGGING TO THE DOLLAR AND ALSO NOT FLOATING TO LET THE MARKET DRIVE THEIR CURRENCIES — VERY INTERESTING TIMING

Millionday: The six nations in the Gulf Cooperation Council (GCC) have pegged their currencies to the dollar. What was once viewed as a stabilization mechanism will turn against them and import deflation as oil prices collapse.

True, in recent years the GCC economies have moved more out of sync with the United States.

However, the pegs are now pressing the GCC policymakers to mirror the U.S. central bank’s decisions even though this is contrary to domestic policy objectives.

Millionday: NOTE — THEY ARE STATING THAT ALL ECONOMIC DECISIONS DO NOT NEED TO BE BASED ON THE VALUE OF THE DOLLAR AND THEY WOULD LIKE IT NOT TO ALL BE PEGGED TO THE US DOLLAR — INSTEAD BE PEGGED TO THE SDR

Millionday: As long as they have currency pegs to the dollar, the Gulf States could face destabilizing capital outflows/inflows if they allow large interest rate gaps to open up with the United States.

There remains a risk that the US will be forced to raise rates to fight a rise in the stock market as capital inflows pour in from many regions. We are likely to witness extreme currency destabilization in the years ahead

Millionday: SO AS LONG AS THEY ARE PEGGED TO THE US DOLLAR THEY ARE AT THE MERCY OF WHAT THE US ECONOMY CONDITION IS –

Millionday: THE WORLD BANK IS STATING THAT THEY WANT THIS TO CHANGE AND SO SHOULD THE COUNTRIES INVOLVED ACCORDING TO WHAT THEY ARE SAYING HERE

jtank: which way is better iyo-why?

Millionday: THE AVERAGE THAT IS USED IN MULTIPLE CURRENCIES MAKE THE PEG TO THEM LESS RELIANT ON ONE COUNTRY`S ECONOMIC CONDITION — BAD OR GOOD –

AND THE RELIANCE ON ONE COUNTRY DOES JUST THAT — IT MINIMIZES WHAT EFFECTS THEIR RATE IN THAT COUNTRY FOR BUSINESS

Papatom: MD, do you know any country, whos currency is worth more than the dollar that is pegged to the dollar? I was un aware of the GCC countries being pegged to the dollar…am I reading that right? are they already there? or are they moving that way?

Millionday: THEY ARE REFERING TO THE MIDDLE EAST CURRENCIES BEING PEGGED TO THE US DOLLAR — AND STATING THAT THEY WOULD LIKE THEM TO BE PEGGED TO THE SDR TO MINIMIZE FLUCTUATION AS A RESULT ON JUST THE DOLLAR FLUCTUATING

Millionday: I DONT KNOW BUT IT SEEMS THAT THE WORLD BANK WOULD PREFER ALL FLOAT IN THAT REGION SO THAT IS CERTAINLY INTERESTING TIMING FOR THIS REPORT FROM THEM

The Shoe: Why would they want that?

Millionday: BECAUSE IT CREATES AN EVEN MORE FAIR TRADING PLATFORM DURING LACK OF MARKET TIMES AND MAKES THE ACTUAL RATE CLOSER TO WHAT THEY ARE WORTH AT ALL TIMES —

 IF THEIR MARKET CRASHES SO DOES THEIR VLAUE RIGHT WITH IT SO IT IS MORE ACCURATE

The Shoe: What do you mean by all float in that region? Just trying to understand.

Millionday: I MEAN THAT THEY WOULD LIKE FOR ALL CURRENCIES TO BE PEGGED TO THE AVERAGE THAT IS SHOWN BY CALULATION OF THE CURRENCIES IN THE SDR (CURRENCY BASKET) –

 WHEN PEGGED TO THAT THEY ARE NOT AFFECTED TO ONE COUNTRY AND THE LOWER VALUE THEY MIGHT ENDURE OR A HIGH VALUE AS FAR AS THAT GOES — THIS ALLOWS A MORE LEVEL VALUE —

THE US DOLLAR RATE FLUCTUATES AND THERE FORE AS WE HAVE WITNESSED — SO DO THE CURRENCIES THAT ARE PAIRED WITH IT

VIP.DIGIman1: by them pegging to the SDR, would that not affect the exchange rate in itself?

Millionday: THAT WOULD AFFECT THE RATE BUT NOT THE TRUE VALUE — THE PURCHASING POWER WITHIN THE COUNTRY WOULD BE THE SAME BUT THE PAIRING TO THE SDR WOULD THEN BE PAIRED TO THE US DOLLAR AND THE EURO ACCORDING TO THAT CALULATION AND LESS LIKELY TO FLUCTUATE ACCORDING TO ONE MARKET AS MUCH

.VIP.DIGIman1: it would still be calculated in USD then?

Millionday: IT WOULD BE AS ANY OTHER CURRENCY THAT IS PEGGED TO THE SDR

Millionday: YES IT WOULD HAVE A RATE BUT BE LESS LIKELY TO CHANGE SO MUCH FOR THE US DOLLAR FLUCTATIONS AND ONLY FLUCTUATE ACCORDING TO THE CALULATION AND THEIR MARKET GAIN IF IT FLOATS — FIXED IT WOULD JUST AFFECT THE ORIGINAL RATE MOSTLY

Millionday: SDR IS AN AVERAGE OF CURRENCIES

Loopback: Is the Yen and Pound still part of the SDR? Or is it just Euro and USD?

_firefly_: The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, and pound sterling).

Millionday: The President of the Investment Commission of Baghdad, Shaker Zamili, that the draft Basmajh the biggest of its kind in the history of the state, and added: “We are awaiting the receipt of a payment for $ 350 million to complete the delivery of 10 000 housing units.”

He Zamili told the “here Baghdad”, under “special meeting” program: “We have orientations establishing industrial cities outside the cities along the lines of the industrial city in Alnehraon, has Asthsalna approvals Baghdad Secretariat for the transfer of the industrial cities outside the cities,”

pointing out that we are working on Coordination with the local administration to Baghdad to establish industrial cities in Latifiyah, Taji and Abu Ghraib.

Millionday: NOTE — THE INVESTMENT LAW IS CALLED “HERE BAGHDAD ” WHEN TRANSLATED

Millionday: NOTE — PARLIAMENT AND COMMITTEES WORKING ON INVESTMENT ARE MEETING FOR DEVELOPMENT AS PROMISED — PLEASE REMEMBER THAT ABADI HAS CALLED FOR ALL REFORMS AND GOV PROGRAM TO BE ACTIVATED ALONG WITH ALL CONTRACTS ETC

Millionday: He pointed out that Baghdad Investment Authority is working to build bridges of cooperation between the Baghdad Provincial Secretariat of the conduct of its work, pointing out that the investment actually began in 2010.

He explained that some of the electrical circuits and the like trying to extort businesses by providing the necessary services for its projects, saying that the non-application of the law leads to disregard a number of state institutions and blackmail investors.

Millionday: NOTE — TRYING TO GO AROUND THE RULES SET BY THE SANCTIONS AND THE RULES THERE-OF — THEY HAVE HAD SOME WORK DONE UNDER A NEED FOR SURVIVAL

Millionday: He explained that the powers of the Investment Commission of Baghdad prevents attracting major companies, noting that the investment law in Iraq has provided investors with a broad powers of the most important laws in the world.

Zamili stressed that the security situation does not constitute an obstacle to investors, but the reason for the reluctance of investment is the bureaucracy and red tape, saying that it can not be the investor that runs contrary to the rules and conditions as the sole loser of the investment process, unlike Contracting.

Millionday: NOTE — THEY ARE SAYING THAT CONTRACTING IS A GIVEN AND HAS BEEN DONE BUT THE PRIVATE SECTOR HAS ROUD BLOCKS IN EXPANDING TO HAVE MERGERS AND INVESTORS AT THIS POINT DUE TO RED TAPE — OR OTHER THINGS DEPENDING ON WHO YOU ASK

Millionday: THE GOAL OF THIS MEETING IS TO REMOVE ANY OBSTACLES DUE TO THE GOAL OF COURSE TO ENTER THE MARKET –PROMOTE IRAQ — AND GROW AS A COUNTRY BY INVESTMENTS

Millionday: SMILE >>>>Zamili and hope that the government will continue Bdawatha to support the private sector, as well as the industrial sector, government support to be able to compete with the foreign product, along with the imposition of taxes on foreign goods, since the imposition of taxes on foreign goods is a support for local products.

Tsrihlt felt that some of the negative political impact on attracting major investment companies, and added: “we see a real will to support the national economy from the government and to provide an appropriate atmosphere to revive this economy.”

Millionday: SO OBVIOUSLY THE REVIVING OF THIS ECONOMY IS THE GOAL OF ALL AND ONE OF THOSE STEPS IS TO IMPROVE THE PURCHASING POWER 

AND ALSO SET THE REALITY RATE FOR THE DINAR ON THE MARKET AND ALSO MOVE THE ISX TO GLOBAL INVESTORS

The Shoe: Would that 350,000,000.00 come from the budget or somewhere else?

Millionday: ALL AMOUNTS THAT ARE DISTRIBUTED WILL COME FROM THE FUNDING OF CBI FOR THE BUDGET — SO THEY WILL FUND THE DEVELOPMENT BANKS 

AND ANY BANKS FOR PROVINCES ETC AND THEN AMOUNTS WILL COME FROM THAT — UNLESS IT IS PRIVATE

Comments may be made at the end of Part 2  Thank You

Stage3Alpha:

jetdriver2 January 30, 2015 Copied From Twitter

JC @JCR3758
Guys I would love to tell you exactly when the official RV with live rates will take place but I can’t since I run out of characters to explain.

JC @JCR3758 
All kidding aside, we are extremely close. Maintain your calm and professionalism.

R.V. / GCR January 30, 2015 at 6:04pm  Monday i was told bonds move

AJM0603 > R.V. / GCR True as long as we RV this weekend…but I heard Wednesday as they still must unblock funds.

Ron Burgundy > R.V. / GCR I heard the codes for redemption were released yesterday afternoon EST.
….
Janie > Ron Burgundy IF the budget gets published tomorrow, then Iraq has no choice. Because everyone will be wanting the money they’ve just voted on in the budget. And once it’s published, it (theoretically) must activate. I think Article 59 was a very powerful vote. Sounded to me like they were forcing the issue :)

 R.V. / GCR > Ron Burgundy Lets keep going forward. The admin hold treasury side is still problematic, even to the discourse of the nation of Iraq becoming international without the full backing of the USA TREASURY. There are many countries that do not trust whats going on right now. I.e. MEXICO FOR EXAMPLE…That will not cash a vietnam dong or said zimbabwe note for any amount of money without the REPUBLIC and the Treaty of basel 3 even on Monday. The problem may be the mirror budget between the Reserve currency and the backing of the secret reserve currency the DINAR

Carden > R.V. / GCR Well, I will add to this comment. IMO Mexico will not cash any VND/IQD/RUP/ZIM without the UST guaranteeing the exchange which they have NOT done. During their recent coordinated currency exchange (this past Christmas) with a few well known currency holders they looked to China to provide the guarantee which they had been previously given and I understand they didn’t hear back. Mexico central bank doesn’t want to be stuck holding worthless Monopoly money from any country. Doesn’t have anything to do with “REPUBLIC” or “BASEL 3″. It’s just simple good business practices.
I do agree the problem may be the mirror budget… that’s a good call. The “secret reserve currency, the DINAR” tho, ain’t so secret.Thanks, R.V.

Ron Burgundy > Carden Well hopefully the process has indeed started in earnest.  I cannot imagine them being able to hold this back much longer!God Bless!

Janie > R.V. / GCR thank you for this clarification. this makes a great deal of sense. Problematic indeed – it’s a problem that’s been 100 years in the making, this lack of distrust. Any of us who’ve been following this trail for awhile also have that lack of distrust. Even after the eventual exchange, that distrust will still be lurking behind the closet door. 

**********

KThompson 
What is this mirror budget people are talking about.

Carden > KThompson Seems that throughout this escapade there have been remarkable coincidences between USA and Iraq that show this mirror effect over and over. Now if we learn of BIG CHANGES in USA budget that don’t make sense to the average person we here will know what the reason is. Diminishing deficit/debt, for instance. The clues are obvious. The verbiage however, will not be so clearly stated nor explained, as in we now have asset-backed currency, pegged to the IQD, with debt paid thanks to the exchange of the IQD/USD purchased during Bush years and to pay for the Iraq war.

Janie > Carden And perhaps that’s why Obama put all those domestic funding statements into his new proposed budget? Because now he can afford to fund them? – I thought about that the other day when he announced the proposed 2015 budget :)

********************************

GET:

Topic: If you cannot do great things, do small things in a great way. Napoleon Hill

*********************************

TNT:

AstorJack:
I honestly don’t think the value of the dong will be .08 cents, remember that is what the PTB said to tell Tony and DC, so far Tony nor DC was able to confirm that, I personally believe the reason for that rate is to slow the process of exchange down and also so that people wouldn’t go and purchase more.

Adept1: DC from Friday TNT CC: 
DC:  Not a lot has changed – everything looks really good.  Positive stuff has gone through in Iraq with support in the US.  In Iraq they passed the budget and made it public. It has been published in many places, and the official date in the Gazette is tomorrow.  It’s a pretty dry read but has some good stuff for those looking for investment information, like for roads and infrastructure.  The pressure is very high on Abadi and his team to get this revalued.  

Most feel the RV is very shortly behind, and they are jumping up and down in frustration.  Many including the US are insisting this RV gets done quickly especially because of social issues and ISIL.  There is more on Iraqi television about the economic reforms.  It’s a holiday there, and in the mosques they said to pay attention to the various news outlets.

About Dr. Shabibi and the rate, it seems to be higher than the rate on the cards.  Shabibi has always argued for a much higher rate, and he is very convincing.  So he’s been working on has been raising the rate, while PM Abadi just wants to get this out and raise the rate later.  Even with falling oil prices, Shabibi has successfully pushed for a higher rate.

 In the US, all checks have been done and we are waiting on Iraq – banks, Homeland, UST, all the other law enforcement agencies are all waiting on Iraq. They are keeping the times close, with a wide window but ready to go. There are many leaks, and that is how we get our information!  

So the times are held by just a few people, keeping people on super-high alert.  

There is a running joke in Congress and the UST that this will go during the SuperBowl kick-off. Everyone is tired of the stops and starts it’s almost become a joking matter.

KTFA:

JJONESMX » January 30th, 2015,  World Bank Questions Iraq Currency Peg

Posted on 30 January 2015 . Tags:

Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate, IQD, iraqi dinar, oil prices, re-denomination, re-valuation, Redenomination, revaluation, World Bank

World Bank Questions Iraq Currency Peg  By John Lee.
A report published on Thursday by the World Bank focuses on the implications of low oil prices for eight developing countries — Egypt, Tunisia, Lebanon, Jordan, Iran, Iraq, Yemen and Libya — and the economies of the GCC (Gulf Cooperation Council).

The Plunging Oil Prices report questions the practice of pegging the Iraqi dinar to the US dollar, noting the that value of the dinar has been falling against the dollar in the parallel market:
“Iraq pursues a policy of a de facto peg to the U.S. Dollar, and therefore monetary policy is constrained in tackling the current shock.

“The Central Bank of Iraq (CBI) had kept the Dinar steady through January 2009.
“In 2014, the nominal exchange rate in the official market remained stable against the U.S. Dollar at 1,166 IQD/1 USD, but the rate in the parallel market increased.

“The CBI has recently taken steps to simplify foreign exchange market regulations, but has not eliminated all existing exchange restrictions and the multiple currency practice.

With the peg, fiscal policy carries the burden of macroeconomic stabilization, but in this case does not have the space to do so.“

http://www.iraq-businessnews.com/2015/01/30/world-bank-questions-iraq-currency-peg/

**********

jdtolle » January 30th, 2015, A matter of doing it

Whatever you must do is not particularly hard. It’s just a matter of doing it.

Sure, it has its challenges. And those challenges are what give value to the work you do.

Are you avoiding something because of how hard you think it will be? Stop and remind yourself how foolish that is.

You are capable of doing great work, of making a positive difference, and of transforming the challenges into achievements. Go ahead and get busy doing all that.

Worry and procrastination will just make the task more difficult when you eventually have no choice but to do it. So now, while you still have a choice, choose to get the work done.

You can in fact enjoy the effort, enjoy the challenges, and enjoy pushing forward. So take a deep breath, put a smile on your face, feel your power, and get the work done.

— Ralph Marston   Wishing All a safe, warm and blessed day    JDT

Millionday Roundtable 1/30/15  Part 2

Welcome to dinarupdates.com for Roundtable with Millionday!

allinxpress: With the announcement by the CBI and GOI that they are ready, why would we need more banking laws to pass before this happens?

Millionday: THESE ARE INVESTMENT LAWS FOR THE MARKET AND INVESTORS — NOT BANKING AS FAR AS I SEE

coco1: So they would have to have a functioning market in order to promote, right?

Millionday: COCO — THEY WOULD HAVE HAVE A MARKET ECONOMY OR IT WOULD BE POINTLESS TO EVEN BUY A TICKET FOR TRAVEL IMO
~~~

RML: From your perspective, do we know what event (if there is one) will be the tipping point for the CBI to confirm that the GOI has sufficiently linked the GOI’s obligation to cover its debts (i.e., to cover the debt instruments [our beloved dinar]) of the Country?

Millionday: YES — THE ANNOUNCEMENT FROM CBI THAT THEY CAN COVER THE BUDGET AND THAT HAS HAPPENED — THIS YEAR HAS IN IT THE DEBT AMOUNT NEEDED PER AGREEMENTS

RRathbun: Comment – It looks to me like Iraq is going to show the investors a rough diamond and ask their thoughts on how they want it faceted. That’s a good thing.

allinxpress: Are there any baking laws we need to get passed that you know of?

Millionday: ALLIN — NOT THAT I KNOW OF — THERE ARE MANY THAT NEED ACTIVATED — HOWEVER THE BANKING REFORM HAS BEEN CONCLUDED

Millionday: RRATH — I AGREE — AND THEY PLAN TO MAKE SURE THEY HAVE NOT MISSED SOME WESTERN ETC WAYS OF BUSINESS — THEY WANT THE LAW TO BE EXACTLY WHAT IS NEEDED BY ALL

diane1: Are we waiting for the budget to be posted into the Gazette along with other pertinent laws

Millionday: YES THE LAWS WILL HAVE TO BE PRINTED IN THE GAZETTE TO BE LAW AS WELL

Dianne777: so are they using the poss of an rv to lure in the investors? I know they did a couple yrs ago in London

Millionday: DIANNE — THEY ARE USING THE HUGE PROMOTION OF THE DEVELOPMENT PLANS AND HOW MUCH THERE IS TO PROSPER FROM

RML: Thank you. Here in the ol US of A, the central bank “buys” (and resells) treasury bonds to cover expenses. Is the CBI doing this as well?

Millionday: YES THEY ARE — THE SECONDARY MARKET HAS BONDS THAT CBI HAS ANNOUNCED A COUPLE DAYS AGO TO BE ABLE TO BE COVERED

RML: That to me, says it all. God bless us all…

Millionday: THAT IS HUGE RML –

Millionday: The Minister of Higher Education and Scientific Research, Hussain al-Shahristani, on Thursday, that the ministry has prepared a draft law allowing foreign universities to open branches in Iraq.

The ministry said in a statement received by the agency / information / copy of it, “Shahristani search Thursday, with the Iranian delegation that included Cultural Counselor at the Embassy of the Islamic Republic in Baghdad, Sheikh Ghulam Reza Abadhira, and Deputy Chairman Mustafa International University Mahdavi Mehr scientific and cultural cooperation between the two countries.

Millionday: NOTE — THIS MAY NOT SEEM IMPORTANT IN ALL OF THIS BUT THINK ABOUT YOUR CHILDREN AND WHAT THEY WOULD NEED TO GO TO IRAQ FOR EDUCATING —–

A VISA OR MASTERCARD AND A WAY TO EXCHANGE FUNDING

Millionday: He Shahristani according to the statement “the importance of the development of scientific, academic and economic cooperation with neighboring Iran, in order to serve the interests of the two peoples,”

pointing out that “the Ministry of Education is keen to communicate with international universities and build bridges of cooperation and exchange of experiences, and hold joint academic conferences.

Millionday: >>He explained that “the ministry has prepared a draft law allowing foreign universities to open branches in Iraq, as the ministry pending the enactment of this Act in the House of Representatives for the work done.

Millionday: For his part, the delegation expressed the need to strengthen the scientific and academic cooperation between Iran and Iraq, wishing the adoption of special laws to open branches of the universities as they provide the possibility of legislation to strengthen the university mutual relations between the two countries.

Millionday: SO AS WE SEE — EVEN THE THOUGHT OF FOREIGN UNIVERSITIES OPENS UP SO MANY QUESTIONS — THE FUNDING WOULD COME FROM THEIR INVESTMENT AND WOULD NEED AN EXCHANGE FOR IRAQ PURCHASING — IT ONLY MAKES SENSE

tbob: so once budget is law and they open it up — iyo will it be at 1166 and then adjusted?

Millionday: YESTERDAY — ABADI CALLED FOR THE REFORMS, THE GOV PROGRAMS AND ALSO THE BUDGET REFORM TO BE COMPLETED –

SO AT THIS POINT I KNOW THAT THE BUDGET AMOUNTS HAVE BEEN REPORTED BY MANY REPORTERS BUT THE FINAL AMOUNTS ETC MUST BE HEADED FOR REFORM OR SUCH THING WOULD NOT EXIST –

WE HAVE NOT HEARD OF THAT BEFORE IN ANY REPORTS AND ARE WAITING TO SEE WHAT THAT IMPLIES

quicktolegit96: DIDNT YOU SAY THIS COULD BE DONE THROUGH DATA ENTRY AFTER BUDGET SIGNED…ETC?

Millionday: THIS WILL BE DONE THROUGH DATA ENTRY — THE CHANGE IN VALUE OR THE RATES SET FOR INTERNATIONAL RATES WILL ALL BE AN ADJUSTMENT THAT IS DONE AS ALL COUNTRIES — WITH ELECTRONIC DATA ENTRY

clay: is there a time frame to open the budget in their constitution after budget hits gazette

Millionday: CBI HAS STATED THEY WILL FUND THE BUDGET AND WHEN IT IS LAW WHICH IS ONE DAY AFTER PRINTING — IT WOULD BE FUNDED

tbob: stupid question. what does open the budget even mean?

Millionday: IT MEANS THAT ALL FUNDING WITHIN WILL BE TRANSFERED TO THE BANKS OR PAYMENT RECIPIANTS

Millionday: FROM CBI

Millionday: THIS WAS ANNOUNCED TODAY SO A LITTLE LATE

Millionday: BUT THIS IS US

Millionday: Lockheed Martin Aeronautics has been awarded a $9,500,000 fixed price, indefinite-delivery/indefinite quantity contract for F-16 aircrew training to Iraq Air Force personnel.

The work will be performed at Tucson, Arizona, and is expected to be complete by Jan. 27, 2017.

faith1: are we waiting for the budget to be printed ?

faith1: is that the key to opening ?

Millionday: I DONT KNOW — I KNOW THAT INVESTORS WAITING ON FUNDING FOR CONTRACTS ETC ARE WAITING

Millionday: YES THE BUDGET DOES NOT OPEN UNTIL IT IS PRINTED

coco1: I thought Abadi had to sign off on the budget before it goes into the Gazette. Did I miss something?

Millionday: YES HE DOES — HE HAS CONSTITUTIONALLY 15 DAYS — HE ALSO CAN RIGHT NOW SO WE SHALL SEE

7shiela: When you say printed…are you meaning put in the Gazette?

Millionday: YES — THE PRESIDENT HAS TO SIGN AND THEN IT WILL BE PRINTED IN THE GAZETTE TO BE LAW

rcookie: AND ONCE IN GAZETTE…ACTIVATED AND RETRO TO JAN 1ST

Millionday: YES IT IS FOR THE YEAR 2015

Millionday: IT WILL INCLUDE IN FISCAL FIGURES FROM JAN 1 ON TO DEC

faith1: Millionday is that when the Iraq Gov and people will be paid (welfare) when budget is opened ?

Millionday: YES — SOCIAL SECURITY — AND ALL BENEFITS – THE INTERESTING PART IS THE REPORT WE HAD THAT IT WILL BE LOADED ONTO A CARD THAT IS ACCEPTED GLOBALLY —-

Millionday: I AM BRINGING THIS BECAUSE I FIND THE REFERENCE HE MADE VERY INTERESTING — SMILE

Millionday: Voice of the House of Representatives, by a few, to approve the adoption of the federal budget for 2015, which amounted to 119 trillion dinars and a deficit of 25 trillion dinars. 

The head of the House of Representatives, Saleem al-Jubouri, this is the first time since 2003, recognizes the budget during the month.

Millionday: SO AS SMALL AS THIS STATEMENT IS — THE REFERENCE THAT THEY HAVE NOT HAD IT DONE THIS EARLY SINCE 2003 MAKES ME WONDER – 

DUE TO THE MANY STATEMENTS THAT THEY WANT THE REFORMS TO BE DONE AT THE BEGNNING OF THE YEAR —MUCH EASIER TO CALCULATE NO MATTER WHO YOU ARE –

Papatom: easier to calculate what…. ???

Millionday: REVENUES — CONTRACTS — EXPENSES — THE ENTIRE OR HALF OR EVEN AT A QUARTER IS ALWAYS EASIER WHEN CHANGES ARE MADE IN JUST SMALL BUSINESS – 

I CAN IMAGINE FOR A COUNTRY — MAKES SENSE

Millionday: WE COULD DO A POLL OF BUSINESS ADMINISTRATORS AND THEY WOULD ALL SAY THAT IT IS EASIER TO INCLUDE AN ENTIRE YEAR –

 EVEN SHABIBI`S REPORT ON THE ECONOMIC REFORM WE READ YEARS AGO WAS WITH HALF THE YEAR AS A PROGRAM RATE AND THE REST AT THE REALITY RATE SO ONLY MAKES SENSE

HEARTLAND: TO follow up on Faith’s question…are you saying that when the budget is opened that the reality rate will be in it, or can they operate at the current rate for awhile and then adjust the budget following the announcement of the new rate? thanks

Millionday: THEY CAN DO ANYTHING WITHIN THE COUNTRY THEY WOULD LIKE — I KNOW MANY ARE STATING THAT THE CHANGE IN VALUE WILL BE WHEN THE BUDGET OPENS BUT THEY OBVIOUSLY CAN DO WHAT THEY WANT –

 WE HAVE TO WAIT AND SEE WHAT THEY DO —- GUESSING IT JUST THAT — GUESSING

Millionday: NOW THEY HAVE STATED THAT THEY ARE GOING TO MOVE TO A REALITY ECONOMY AND ALSO TO A MARKET ECONOMY – 

THE THING IS THAT TO GO TO A MARKET ECONOMY THEY HAVE TO USE THE GLOBAL PRICING INDEX CALCULATION – 

SO ENTERING INTO A MARKET ECONOMY OBVIOUSLY IS REQUIRED TO MOVE FORWARD WITH THEIR PROJECTS ETC –

THERE ARE MANY IN THE BUDGET WITH CONTRACTS ETC AND ALSO THE AGREEMENTS THEY HAVE MADE FOR BUILDING AND EVEN THE TRAINING – 

SO IT IS DOWN TO THE WIRE WITH THE MANY ANNOUNCEMENTS THEY HAVE MADE THEMSELVES IMO —

Millionday: TO SELL THE DINAR ON THE CURRENCY MARKET AS ABADI STATED IN DAVOS THEY ARE HEADED– THEY HAVE TO HAVE A REALITY RATE — NO WAY AROUND IT —

Millionday: SO THAT IS WHAT WE HAVE TODAY — SEE EVERYONE TONIGHT FOR THE NEWSTIME AT 730 EST

http://www.dinarupdates.com/showthread.php?15046-Millionday-Roundtable-1-30-15

Millionday Roundtable 1/30/15  Part 1

Welcome to dinarupdates.com for Roundtable with Millionday!

Millionday: WE HAVE SOME HUGE NEWS TODAY

Millionday: THIS IS HUGE AND FOR CERTAIN A WHOOOPOW

Millionday: A report published on Thursday by the World Bank focuses on the implications of low oil prices for eight developing countries — Egypt, Tunisia, Lebanon, Jordan, Iran, Iraq, Yemen and Libya — and the economies of the GCC (Gulf Cooperation Council).

Millionday: NOTE — THIS IS FROM THE WORLD BANK — KEEP IN MIND THEY HAVE AGREED TO GIVE IRAQ MONEY TO DEVELOP

Millionday: The Plunging Oil Prices report questions the practice of pegging the Iraqi dinar to the US dollar, noting the that value of the dinar has been falling against the dollar in the parallel market:

“Iraq pursues a policy of a de facto peg to the U.S. Dollar, and therefore monetary policy is constrained in tackling the current shock.
~~~

Millionday: NOTE — THEY ARE QUESTIONING IF THE DINAR SHOULD BE PEGGED TO THE US DOLLAR AND ALSO CONCERNED ABOUT THE IMPLICATIONS OF THE PRICE OF OIL WITH THESE DEVELOPING COUNTRIES — IRAQ BEING ONE OF THEM — SMILE

Millionday: “The Central Bank of Iraq (CBI) had kept the Dinar steady through January 2009.

“In 2014, the nominal exchange rate in the official market remained stable against the U.S. Dollar at 1,166 IQD/1 USD, but the rate in the parallel market increased

Millionday: NOTE — THE DINAR IS NOT ON THE CURRENCY MARKET SO THE REASON THIS IS INTERESTING OBVOUSLY IS THAT THEY WOULD ONLY IMPACT THE CURRENCY MARKET WITH IT ON THE CURRENCY MARKET — MEANING SDR AND ALL THAT FOLLOWS

Millionday: NOTE — REMEMBER THEY STATED THEY WOULD BE A RESERVE CURRENCY

Millionday: READ EVERY WORD >>>>“The CBI has recently taken steps to simplify foreign exchange market regulations, but has not eliminated all existing exchange restrictions and the multiple currency practice.

“With the peg, fiscal policy carries the burden of macroeconomic stabilization, but in this case does not have the space to do so.“

Millionday: SO THEY WILL NOT BE FLOATING IMO — WITHOUT THE ROOM TO SO WOULD MAKE ME THINK THAT IT WILL BE FIXED —-ALSO THIS WOULD OBVIOUSLY BE A CONCERN IN THE MARKET NOT CONTAINED IN IRAQ

Danalivin4HIM: I dont understand the not pegging to the dollar

Millionday: DANA —– THEY CAN PEG TO THE SDR (BASKET OF CURRENCIES) AND NOT JUST THE US DOLLAR OR EVEN THE EURO — IT IS UP TO COUNTRY POLICY ETC

Dovi: Why would they say this if they were not going to be in this market? “The CBI has recently taken steps to simplify foreign exchange market regulations

Millionday: EXACTLY HUN

allinxpress: thank you. yesterday there was an article about limiting the sale of USD to 75 million… did you see it?

Millionday: ALLIN—-YES THEY WOULD HAVE TO LIMIT DUE TO THE CHANGE IN POLICY FOR THE NEW CURRENCY — THIS IS NOT SHOCKING AT ALL DUE TO THE EXPENSE

RML: What constitutes a “Reserve Currency?”

Millionday: RML — A RESERVE CURRENCY IS WHAT SDR IS MADE UP OF ——- THEY HOPE TO BE PART OF THE SDR BASKET

diane1: does that mean they can come in to what it was in the past

Millionday: DIANE — THE VALUE HAS BEEN REFERED TO HAVING A GOAL OF RETURN TO WHAT IT WAS IN THE 80`S BUT WE HAVE NO WAY OF KNOWING —

RML: Thanks. So IMF members vote and agree to such status?

Millionday: RML — I AM NOT SURE IF IMF VOTES BUT I KNOW CBI HAS AN OBLIGATION TO PLACE RATE AT THE CALCULATED FIGURE WHEN THEY GO TO MARKET

Dovi: could they be in the sdr basket at 1166

Millionday: IF THAT IS WHAT IS CALCULATED AS THEIR REALITY RATE WHICH MAKES NO SENSE AND IS WHAT CAUSED US ALL TO BE HERE —

Millionday: THAT IS EXACTLY THE REASON IN A NUTSHELL OF WHY INVESTORS HAVE INVESTED IN THE DINAR –

Millionday: THINK ABOUT THIS — WHY WOULD THE WORLD BANK BE ADDRESSING THIS ?

Millionday: HERE WE GO — THIS IS HUGE HUGE AND VERY IMPORTANT PLEASE READ EVERY WORD

Millionday: A commission of economy and investment representative, on Thursday, in its quest for new legislation to balance the country’s investment supports and encourages international companies to enter the Iraqi market, as shown in detail it would hold a conference on the law early next month.

The committee member said Osman Haji told / information /, “The decision, announced by Prime Minister Haider al-Abadi in Davos recently about Iraq’s intention to take, is to serve the enactment of new laws and investors, particularly the private sector.”

Millionday: NOTE — ABADI HAS ANNOUNCED THAT HE IS DOING EXACTLY WHAT HE ANNOUNCED IN DAVOS — WHOOOPOW

Millionday: >>>>>>>>>>>HUGE SMILE –Haji said that “the economic and investment commission agreed with the need for legislation Abadi new laws favorable atmosphere for investors in order to encourage them to enter the Iraqi market.”

Millionday: NOTE — INVESTORS CAN ONLY ENTER THE ISX IF IT IS ON THE GLOBAL MARKET — MEANING WE HAVE NO WAY TO INVEST RIGHT NOW SO CHANGE HAS TO OCCUR

Millionday: NOTE — SO THIS NEXT PART SHOWS US WHAT THEY ARE GOING TO DO ABOUT IT

Millionday: He explained that the “investment opportunities to be provided by law for foreign investors, is the industrial sector, and residential and commercial, and tourism, and other fields, as well as sectors that an investor asked to work out,” noting that “what concerns us is the investor, so he would not find it difficult to invest if it came to Iraq. “

Millionday: Haji said that “the economic and investment commission will be held at the beginning of next month’s conference to explain the work of the new law to be enacted mechanism in the presence of investors and businessmen from inside the Iraqis and Arabs as well as foreigners.”

Millionday: SO AS WE SEE HERE — THE NEW LAW WILL ALLOW INTERNATIONAL INVESTMENT FOR ALL IN IRAQ —- WHOOOPOW

grover: beginning of next month means Feb?

Millionday: GROVER I HAVE THE SCHEDULE WE WILL LOOK AT IT NEXT

Millionday: WHOOPOW

Millionday: revealed to the parliamentary Committee of Economy and Investment for the start of next week’s international conference under the auspices of the House of Representatives to come up with recommendations amend the investment law, as pointed out that the invitation to this conference sent bodies to invest Arab and foreign businessmen.

Millionday: NOTE — OBVIOUSLY HUGE CONFERENCE THIS COMING WEEK

Millionday: The Chairperson of the Preparatory Committee of the Conference MP Nora Albjara Agency / BD /: that next week will see the start of the international investment conference sponsored by the House of Representatives and the Committee economy and investment, 

he said, adding that the conference, which will continue for two days. Will focus on the completion of the third amendment to the investment law for Iraq in 2006.

Millionday: She explained Albjara that this conference will be different from what preceded, on amendments, where will present foreign investor what he wants, of this law, which has been invited Arab investment bodies and foreign business people and investors, and will make recommendations to adjustments required

Millionday: SO HUGE TO SAY THE LEAST — THEY WILL HAVE A TWO DAY CONFERENCE THAT ALLOWS INVESTORS TO TALK ABOUT THE NEEDS THEY HAVE IN ORDER TO INVEST IN COUNTRY 

AND THEN THEY HAVE ALSO STATED THEY ARE WORKING ON INTERNATIONAL INVESTMENT THROUGH THE COMMISSION SO ISX MARKET IMO

dabmac: What days are the conference?

Millionday: NEXT WEEK AND TWO AND THAT IS ALL IT SAYS — I MAY FIND MORE ON IT

grover: Are We not at a crossroads?? What I mean is with liquidity being poor into Iraq but once the budget is released , liquidity is going to be poured into Iraq something like 11 trillion.. 

at least not counting on GOI foreign contracts, would this not defeat what the CBI has been doing for the past years in their policy. 

This to me seems to means one of two things, either we are there when they open the budget? or this is going to be a very very slow process. Correct?

Millionday: GROVER – THIS IS EITHER GOING TO BE DONE CORRECTLY OR BE A NIGHTMARE FOR ALL — WHEN A PLAN IS UNLEASHED AS LARGE AS THIS — THE RISK OF HUMAN MISTAKES ETC IS VERY REAL – 

SO MANY MANY HAVE SPENT COUNTLESS HOURS TO PREVENT FROM AS MANY MISTAKES AS THEY CAN — BUT WE HAVE TO SEE HOW THIS UNFOLDS

coco1: Havent had my morning coffee. So does this conference mean that international trade will be a reality by the time this conference happens?

Millionday: THIS IS FOR THE INVESTMENT LAWS AND WHAT IS NEEDED BY ATTENDEES AND THEIR REQUESTS — MEANING THE INVESTMENT LAWS –

 HOWEVER THEY HAVE THE LAWS THEY WISH TO USE SO THIS SEEMS TO BE A PROMOTION FOR THEIR MARKET TO ME

Comments may be made at the end of Part 2  Thank You

My Ladies YESTERDAY WAS EXCITING WASN’T IT? THE TOTAL BUDGET IS 119 TRILLION AND CHANGE. NOW SO MANY OF YOU WANT TO KNOW WHAT HAPPENS NEXT? MY BEST GUESS IS WE SHOULD SEE THEM TRADING VERY SOON. I THINK SUNDAY/ MONDAY, THEY ARE POSTING INTO THE GAZETTE ON SATURDAY AND WE KNOW THEY ARE RETROACTIVE TO JAN 1. NOW AS TO THE RATE I WOULD ASSUME THEY SHOULD COME TO A REALITY RATE AT THE SAME TIME…BUT LETS GET THROUGH THE WEEKEND FOR STARTERS AND SEE HOW THEY START BUSINESS ON SUNDAY. LET’S SEE IF THE DINAR IS TRADING AT ANY RATE FIRST. IF WE SEE THEM TRADE AND THEY ARE THEY ARE FULFILLING THEIR INTERNATIONAL OBLIGATIONS THEN I WOULD IMAGINE THEY WOULD PRICE THE DINAR ON A COMPETITIVE SCALE.

 

Enorrste There is no law passed forcing the CBI to do anything. There is only the “suggestion” of making a law. In addition, the Parliament does not have the authority to force the CBI in this matter. It simply can’t tell the CBI what to do. The CBI only has so many tools to adequately defend the value of the dinar, and open market operations (the auction) is one of the most important of them, especially at this stage of development in Iraq. Selling or buying bonds is in its infancy in Iraq. Due to their low inflation rate changing interest rates is also not a viable option. This leaves the CBI with what it is doing now, namely the auctions, to maintain the value of the dinar. Furthermore…the CBI went on record last week that it is actually their intent to INCREASE the open market operations, rather than to limit them.

 

Mnt Goat …we are only one (1) day from the end of a span of time…I was told would be the best possible time for us to witness the revaluation of the Iraq dinar…this window is not yet over. So the final vote did happened yesterday, as scheduled. All the news from yesterday is very exciting news and was history in the making. Remember this is the very first budget EVER completed and through the legal, formal parliamentary voting process since post war for Iraqi’s new government. Over all we can see that we are soo very close to this RV / RI. I believe they will take this weekend to push the needed rate files once again down to the exchanges and banks as needed for a revaluation rollout. If not this weekend very shortly. I am told it will be a reinstatement (RI) of their currency followed by a revaluation (RV) 4-7 days later. I believe…we are now in the final countdown window now that the budget is truly done

 





The most prominent paragraphs voted on by the Iraqi parliament for approval within the budget of 2015






BAGHDAD / squares of liberation
Posted 30/01/2015 09:31 AM



Passed the House of Representatives, on Thursday, the federal budget for fiscal year 2015 exceeded the amount of 119 trillion dinars and a deficit of 25 trillion dinars, and its lift to the tenth of February next

It is the most important paragraphs in the budget of $ 41 a paragraph that voted in by a majority of parliament the following items:

1. The imposition of sales tax on Kartat mobilize the mobile phone and Internet networks by 20%, of the value of the card and 15% on the purchase of cars of all types of tickets, ".

2. reduce the number of cars of the three presidencies to five cars and customize them for every three cars each minister who is Bdrjtah.

3. prevent the central bank from the sale of more than $ 75 million a day in the auction

4. pressure Alaivadat Foreign Posts 50%

5. Requiring the Ministry of Finance and all ministries under the budget paying salaries and employee benefits in the provinces in the hot spots Law

6. Install the contract-holders in the ministries who have three years of service and above in the 2015 budget.

7. proportion of the Kurdistan region’s budget 17% of the federal budget

8. bind the Kurdistan region under budget Bouktsas province of Halabja, the region’s share of the budget according to population ratios law.

9. granting the Ministry of Trade exchange ration card items on the form of cash to the beneficiaries of the displaced people in hot spots validity

10-contribution state employees and the public sector in the face of economic challenges, and to support our security forces in the war against terrorism insurance requirements, and the adoption of national savings to the staff of the state system and the public sector, published by the Federal Cabinet.

11-authorize the Ministry of Finance to issue the nature of support on behalf of the displaced determine exaggeration in accordance with instructions issued by the Accounting Chamber, in order to impose on all citizens when their review of government departments.

12-A starch reconstruction of areas devastated by the terror Fund, which is funded by grants and international aid, and the first is allocated 500 billion dinars.

13. Launch of grades with the formation of the National Guard to be the nucleus of the popular crowd formed.

14. The Council of Ministers have the right to establish the Supreme Council for the reconstruction, That is regulated by law within three months.

15. deletion of Article 26 for the Ministry of Finance to stop the financing of projects, ministries and departments not associated with the ministry and the provinces that do not exceed 50% implemented.

16. Do not assign any function leading director and above, unless there is a law degree in ministry or organizational structure.

17. allocation of two dollars for each province producing oil, and two dollars for every barrel of oil refining.

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