Central Bank is witnessing a rise in the auction on Wednesday

  • Agency eighth day
  • July 23, 2014

BAGHDAD ((eighth day)) _
Sales of the Iraqi Central Bank of the dollar in the auction on Wednesday to more than 237 million dollars after being hit on Tuesday 174 million and 349 000 dollars.

The bulletin special auction today that "the size of the amount sold by the bank at the auction of the dollar today reached 237 million and 207 000 dollars at the exchange 1166 dinars to the dollar contribution of 17 banks"


Indicating that "the quantity sold in cash amounted to 112 million and 515 000 dollars, and the quantity sold Khawwalat amounted to 124 million and 692 000 dollars."


"The sale price of remittances in 1187 dinars to the dollar, including the commission’s central bank in the amount of 21 dinars per dollar, and the cash sales price of U.S. $ 1190 dinars,

while the total cash sales price of U.S. $ 1190 dinars to the dollar, including the commission’s central bank in the amount of 24 dinars per dollar".

http://8th-day.com/?p=60104

Millionday News 7/22/14  Part 2

    Welcome to dinarupdates.com for news time with Millionday!

    [millionday] The Chairman of the Parliament that “the President of the Republic after being elected will determine the largest bloc by the prime minister candidate by the formation of the new government.”

The Council of Representatives of Iraq, Tuesday 15 July present, its third meeting of the third session of Parliament, headed by Prime Age Mehdi al-Hafez, and the presence of 207 deputies, the county coalition of national, led by Iyad Allawi,

which has seen its election Salim al-President of the Parliament, and Haider al-Abadi as the first vice speaker of parliament, Aram Sheikh Mohammed and a second deputy.
~~~

     [millionday] The President of the House of Representatives, Salim al, adjourn the meeting to next Wednesday, after it announced the opening of the nomination for the presidency.

    [millionday] SO THE NOMINATION OF THE PRESIDENCY IS OPEN NOW — SO THEY WILL BE MEETING ON IT AND ALSO BY SECRET BALLOT DECIDE ACCORDING TO THIS REPORT

    [millionday] BRB WITH MORE ON THE BUDGET

    millionday] MP, Oula Layeith, of the Fadhila bloc assured that there is a desire by the MPs to endorse the Budget Law.

She stated in a press statement received by AIN “The Iraqis are waiting for the endorsement of the Budget Law as soon as possible due to its effect in delaying the projects that negatively

    affected the economy of Iraq.” “This delay does not only affected the governmental sector, but the other sectors where Iraq loses 400 USD Million daily,” she concluded.

    [millionday] SO THEY HAVE LOOKED OVER THE BUDGET AND SEEM TO AGREE IF THEY WANT TO ENDORSE IT — NICE

    [millionday] THEY HAD A BASKET OF LAWS TODAY TOO THEY WERE TO PASS THROUGH — I DONT SEE THEM YET BUT THERE WERE MANY ANYWAY

    [Domino] Seems like the meeting will happen tomorrow and voting will take place, correct?

    [millionday] LOOK LIKE THEY ARE MEETING TOMORROW AND VOTING BY SECRET BALLOT

    [sudo1114] Seems they are making progress and they report new things. Is it possible there are many more steps that we don’t know what they are. So could take more months.

    [millionday] WE DONT KNOW WHEN BUT WITH THE STOCK MARKET AND THE LAWS IN PLACE THEY HAVE ALREADY — I WOULD NOT THINK MONTHS BUT WE DONT HAVE A DATE

    [jtank] will they need the dinar to change to work the budget?

    [millionday] THE VALUE IN COUNTRY WILL CHANGE AND THEY ARE FUNDED BY TARRIFF AS WELL AS GOV CONTRACTS AS WELL –

 SO I WOULD THINK BY WHAT THEY HAVE STATED THAT THEY WILL CHANGE THE VALUE FOR THE BUDGET IN COUNTRY AS WELL

    millionday] AND THE MARKET — THEY HAVE GOLD AND OIL AND HAVE STATED THEY ARE GOING TO LAUNCH THEIR ISX AND ESX SO I WOULD SAY THE PRICING WOULD HAVE TO BE FAIR MARKET VALUE

    [lstar877] Can we fly to iraq and exchange? If its only in country?

    [millionday] lstar877 IT CAN NOT BE ONLY IN COUNTRY

    [lstar877] Ok I was just thinking if its not international right away

    [millionday] THEY ARE JOINING THE GLOBAL TRADE MARKET

    [millionday] THEY HAVE DINAR   AND SO DO YOU   SMILE

    [millionday] OK BRB WITH MORE

    millionday] HERE WE GO  SMILE  SOME KIND OF SURPRISE

    [millionday] Confirmed the Liberal bloc parliamentary, on Thursday, that the session next Wednesday to the House of Representatives will see surprises policy on the positions of President and Chairman of the Council of Ministers and their deputies.

MP said the bloc Mazen Mezni in an interview for “Alsumaria News”, dialogues and political consultations are still going on between the leaders of the National Alliance and other political blocs to resolve the candidates of the presidents, ministers and their deputies prior to the next meeting of the Council of Representatives.

    [millionday] Pointed out that Wednesday’s session of the House of Representatives will see surprises politically, since the political blocs agreed in their meetings on the names of candidates of the presidents, ministers and their deputies.

And was MP for the coalition of state law, Yasser al-Maliki .. Confirmed on Thursday that the people elected Nuri al-Maliki and pledged allegiance to the prime minister,

stressing that any external force or internal can not prevent him from getting the job, while noting that the context of constitutional and electoral right and choice of the people must be respected.

    [millionday] At the time of detection of the Secretary-General of the Liberal bloc Karrar al-Khafaji, the National Coalition will present its candidate for prime minister within the National Alliance after the inauguration of the first deputy of the parliament candidate of a coalition of state law.

    [millionday] REMEMBER THAT THEY OPENED THE VOTING OF THE PEOPLE FOR THREE DAYS

    [millionday] SO TOMORROW SHOULD SHOW SOME ANNOUNCEMENTS

    [millionday] HERE IS THE PRESS RELEASE

    [ROBINREDHED] cool

    [millionday] The head of the House of Representatives, Salim al, on Tuesday, that the Council form temporary committees for approval of the general budget in the coming days, indicating that there is cooperation between a future executive and legislative branches.

Jubouri said at a press conference at the parliament building and attended by “tomorrow Press”,

“The hearing on Wednesday will be important, because it will determine the president of the republic will be elected president by secret ballot,” noting that “there are figures efficient submitted its candidacy for the presidency of the parliament was considering them”.

    [millionday] VERY

    [millionday] He added that “the Presidency of the Council deplores the displacement and killing of Christians and other communities in the provinces of Nineveh and Salahuddin, Diyala and Anbar, and what he suffered Christians recently does not represent and reflect the ethics and values ​​of the Iraqi authentic,”

explaining that “the Council adopted, inter alia, to work on restoring the political process back on track During the coming period.

The Jubouri that “the House of Representatives to form temporary committees to consider the issue of the adoption of the general budget for approval in the coming days,” stressing “the existence of cooperation between the executive and legislative branches.”

    [millionday] THIS IS HISTORICAL TO SAY THE LEAST

    [millionday] The Chairman of the Parliament that “the President of the Republic after being elected will determine the largest bloc by the prime minister candidate by the formation of the new government.”

The Council of Representatives of Iraq, Tuesday 15 July present, its third meeting of the third session of Parliament, headed by Prime Age Mehdi al-Hafez, and the presence of 207 deputies, the county coalition of national, led by Iyad Allawi, which has seen its election Salim al-President of the Parliament, and Haider al-Abadi as the first vice speaker of parliament, Aram Sheikh Mohammed and a second deputy.

    [millionday] The President of the House of Representatives, Salim al, adjourn the meeting to next Wednesday, after it announced the opening of the nomination for the presidency.

    [millionday] AS WE SEE THERE IS SOMETHING BREWING FOR TOMORROW

    [millionday] WHOOOPOW   SMILE

    millionday] I THINK THE CITIZENS THINK THAT THAT IS THE END OF THE VOTE BUT IT ISNT — THE PRESIDENT ALSO HAS A SAY SO AND WILL PLACE THE PRIME MINISTER — SHOULD BE INTERESTING

    [lstar877] Did I just read maliki is still in???

    [millionday] THE CITIZENS THINK HE WON BY THEIR VOTE BUT THERE IS MORE TO COME BY BALLOT

    [highstarr] MD, Did you see the huge post from sczin11 earlier?

    [highstarr] Amazing news.

    [millionday] I SAW THE ONE WITH ALL THE LAWS THAT WENT THROUGH — THERE ARE MANY MANY

    [millionday] I LIKE THIS PARLIAMENT MUCH BETTER THAN THE LAST   DONT YOU ?

    [millionday] THEY ARE WORKING

    [millionday] Market News Shares of the increase of the Company and the Union Bank of Iraq launched in trading Wednesday, 23/7/2014 07/22/2014 08:03 Shares will be listed increase of $ (100) Milirshm As of Wednesday’s session July 23, 2014, after the completion of the procedures for the capital increase of (152) Milirshm to (252) Milirshm in accordance with Article (55 / I) and (55 / II) of the Companies Act implementation of the decision of the general meeting on 03.04.2014

    [millionday] FOR THOSE MARKET FOLLOWERS  NOTICE THE $

    [millionday] UNION BANK OF IRAQ LAUNCHES TOMORROW TOO

    [millionday] HERE WE GO

    [millionday] The Iraqi ambassador to the United States explicitly called for ramped up American military involvement in his country on Monday, asking the United States to launch air strikes against positions being held by the Islamic State of Iraq and the Levant (ISIL),

the Sunni extremist group that has gained control over swaths of northern and western Iraq, Defense News Agency said in news briefed by “Shafaq News”.

 H.E. Lukman Faily told an audience at an Atlantic Council event in Washington that for the US and Iraq “to conduct counterterrorism operations in urban areas occupied by ISIL, we need precision US air attacks,” and that “the US should offer air support targeting terrorist camps and supply convoys in remote areas.” 

   [millionday] OK SO THAT IS ALL WE HAVE FOR TONIGHT — BGG HAS A CALL

    [millionday] LETS ALL GET READY FOR THAT

    http://dinarupdates.com/observer/

    http://www.dinarupdates.com/blog/

http://www.dinarupdates.com/showthread.php?14180-Millionday-News-7-22-14

Millionday News 7/22/14  Part 1

    Welcome to dinarupdates.com for news time with Millionday!

    [millionday] HERE WE GO   THIS IS TOMORROWS NEWS ON THE PARLIAMENT SESSION

    [millionday] Shaima Rashid favored politicians to postpone today’s session of parliament devoted to selecting a president until after the holiday to the presence of many of the problems that hinder the progress of the agenda of the meeting,

including the presence of a large number of candidates for the position and the lack of time in front of the political blocs trading and agreeing on a presidential candidate. predicted MP for the rule of law on the Keywords postpone today’s session until after the Eid al-Fitr attributing the cause to the non-receipt of the political blocs to the names of candidates and there is enough time for trading.

    [millionday] NOTE – THEY ARE TRYING TO WAIT UNTIL NEXT WEEK TO CHOOSE ACCORDING TO THIS
~~~

     [millionday] He added, “morning” that the non-receipt of the Presidency, the names of the final candidates for the position of president of the republic to be presented to the political blocs to dialogue with each other and reach an agreement on one of the candidates would postpone the meeting to another date,

“noting that” a meeting held today (yesterday) between the Presidency and the parliamentary blocs for trading on the agenda of future meetings in order to form parliamentary committees according to the jurisdiction.

 “He Keywords that the large number of names of candidates can prepare a healthy phenomenon, but usually in all democratic countries such as the so location sovereign must be the presence of the sovereign supreme shorten the number to less than that Because

    [millionday] NOTE — THEY HAVE RECEIEVED MANY NAMES BY ALL PARTIES

    [millionday] such a large number without controls means the dispersion of votes and not to focus on the name of a limited. opinion MP for the National Bloc Hamid al-Mutlaq similarity with the arguments of his colleague Keywords since ruled that the witness today’s session electing the president and his two deputies to the presence of many of the differences within the political blocs and the failure to reach a final agreement.

He said the “morning”: that the meeting will not happen where a vote on the presidency and will be delayed until after the feast of the need blocs more time to

    [millionday] resolve its mind on this matter, “noting that” the mass will attend today’s meeting, “and described the large number of names of candidates for the post of President of the Republic as good sign and indicates that the Iraqis are marching towards a change in the distribution of quotas presidential seats.

He continued, but at the same time we need to maintain a consensus social relations between the components of the people and not get into disagreement

    [millionday] NOTE — THEY ARE OVERWHELMED AND DONT WANT TO FIGHT AND ARGUE ABOUT IT

    [millionday] Also favored the MP for the Patriotic Union of Kurdistan Bakhtiar Shaways postpone today’s session until after the holiday due to the differences existing on the job, in addition to the Presidency of the Parliament need time to organize and audit information of candidates for this position whose number has increased to a candidate percent.

 He went on in a statement the “morning” on the existence of legal disputes about today’s session devoted to the election of the President of the Republic because the law requires that the President declares the House of Representatives the names of candidates for the post of President of the Republic, three days before the public opinion and the House of Representatives to the fact that the position is sensitive and influential in the political process and the future of the country.

    [millionday] NOTE — OBVIOUSLY THEY WANT TO SIFT THROUGH THE NAMES AND SEE WHO QUALIFIES AND WHO IS THE BEST CANDIDATE BECAUSE OF THE POWER GIVEN –

    [millionday] >>> He called Bakhtiar presidency of the parliament to regulate the process of selecting the president of the republic and the development of standards for those up for the job,

and revealed that there was a meeting between Barham Saleh, who is currently in Baghdad, Fuad Masum, to deliberate on this issue and understanding with each other to resolve than have this position in order to avoid impact on the maturity of the Kurds for the job .

while differed predicted the National Alliance MP Amer Al-Fayez, noting that today’s session will see the resolution of the position of President of the Republic,

saying “morning”: that the contacts and the ongoing talks between the blocs have resolved this position during the meeting, but without resolving the post of first deputy and second.

    [millionday] He continued, Despite the large number of names put forward for the job among them, Barham Salih, and Fuad Masum, pointing out that the impact of the large number of names is limited to the course of the electoral process, noting that the issue of the Vice President as possible be resolved in another session after selecting a president, as happened in the previous session.,

 it warned MP for a coalition of state law, Ihsan al-Awadi, the National Alliance did not agree on a candidate, first deputy president of the republic,

 while noting the presence of positive indicators for the presidential election at today’s meeting. said al-Awadi, in a press statement: “The Kurdistan Alliance did not give one candidate for the very moment the position of chief the Republic. “

    millionday] GOOD GRIEF

    [millionday] HOW MANY TIMES CAN THEY SAY THEY DID NOT FINISH   SMILE  BRB WITH MORE

    [millionday] EU confirmed on Tuesday its support for the Iraqi government and the unity and sovereignty of Iraq. A spokesman for the High Representative of the European Union Michael Mann said in a press statement that “the European Union is a partner with the Iraqi government and has many of the partnership with it, and the EU continues its political support to maintain the unity and sovereignty of Iraq

    [millionday] NOW THAT IS MORE LIKE IT  SMILE  LOL

    [millionday] THE THING IS THIS — WE KNEW THE MEETING WAS GOING TO BE FULL OF NAMES AND WAS GOING TO LAST ALL DAY –

    [millionday] THE REPORTS DONT HAVE TO BE LASTING ALL DAY BUT WE KNEW THE MEETING WAS GOING TO BE LIKE THIS  BRB WITH MORE

    [millionday] HERE WE GO

    [millionday] Shkran Fatlawi said specialist Balchan banking importance of adopting Systems bank sophisticated about the movement of domestic capital for any illnesses bank adversely affect this device is important.

said Saad al-Tai said in an interview »Sabah» that the domestic financial sector is going Botaúr developmental upward through the adoption of advanced systems gradually in most of the banks that fall under the banner of the Association of private banks in Iraq. ,

and pointed out that the most dangerous phenomena that must be addressed through advanced systems that limit the spread of money laundering,

    [millionday] NOTE — THE SPREAD OF MONEY LAUNDERING TOOLS TO PRIVATE BANKS — THIS WAS DISCUSSED AS A STEP TO EXPECT

    [millionday] which is a disease suffered by many of the international economics , pointing out that the advanced systems adopted in major economic blocs are working with great accuracy out with positive results keeps the flow of capital into the channels that achieve economic viability.

 between «The phenomenon of money laundering is the process or try to hide illicit sources that have been obtaining money from the way where the money will be transferred obtained means illegal, punishable by law and work to turn them into capital are running in the works is a suspicious or commercial projects or economic legitimate ».

    [millionday] pointed out that it constitutes a major threat to global and regional economies and local levels, indicating the importance of the work of private banks Besides the central bank to combat these practices, especially that the Iraqi economy is large and will see the movement of big money in the coming period as well as the presence of branches of international banks and regional and in increasing continuously in preparation, which requires the adoption of the best technology in the fight against this phenomenon.

Among the Statistics indicate that more $ 500 billion were traded in the money laundering operations in the nineties of the last century and then amounted to more than 1.5 trillion dollars in the first decade of this century, which points to the extent of the amount of money the enormous obtained by illegal means and try to turn them into legitimate sources.

    [millionday] NOTE — WILL SEE THE MOVEMENT OF BIG MONEY IN THE COMING PERIOD

    [millionday] NOTE — OBVIOUSLY THEY ARE TALKING ABOUT THE RESULTS OF MONEY LAUNDERING TO THE CRIMINAL

    [millionday] He said the local banking sector has the human capacity capable of applying best banking systems world, noting the need to create new efficiencies that can detect cases of money laundering, which can involve the staff of private banks and public specialists in training courses under the supervision of international experts to get their abilities to the world.

financial expert Dr. . Majid picture occur »Sabah» about the effects of the phenomenon of money laundering, the banking operation,

saying that there are issues in the banking business as possible to monitor dramatically and is working on a follow-up banking activity his image wide and not on a small scale in the sense that the intended banking activity exceed the limits of banks to companies conversion and banking companies

    [millionday] NOTE — DEL A RUE AND OTHER DETECTIONS THEY ARE PUTTING IN PLACE

    [millionday] pointed out that there are large sums of money have been recently disbursed by the central bank in the process of cash sales to the dollar, indicating that in the year 2013 was sold about more than $ 12 billion in cash and through twenty-one days have been sold more than a billion dollars in cash, money worth the stop then he said,

pointing out that in order to control money laundering and smuggling must control the movement of money in Iraq, either through banks or other activities related to banking work.

    [millionday] noted that this process has not achieved the desired end of which only gathered a lot of people in front of the doors of banks Indicating that the process of money laundering is the conversion of illegal money into funds legitimacy and sources of administrative corruption and financial and operations illegal by trading humans and drug trafficking where you go this money to fund terrorism or smuggling abroad is therefore necessary caution to prevent falling into this serious mistake.

    [millionday] SO THEY ARE CATCHING PEOPLE TAKING DINARS ABROAD AND HAVE PUT IT IN THE CATERGORY OF SMUGGLING AS WELL –

THEY SEEM TO THINK THAT HUGE AMOUNTS OF MONEY WILL BE MOVING VERY SOON AND THIS IS IMPORTANT TO ADDRESS RIGHT NOW — THATS NOT BAD NEWS — WE LIKE THAT

    [RickeyT] is this a repeat of 2010?

    [millionday] NO WE HAVE SOME MORE ON THE DAY TODAY TO LOOK AT

    [millionday] THEY SEEM TO BE DOING MUCH BETTER THAN 2010

    [millionday] LETS LOOK AT THIS

    [RickeyT] I am being serious, these same storys were being reported then

    [millionday] HERE WE GO

    [millionday] The head of the House of Representatives, Salim al, on Tuesday, that the Council form temporary committees for approval of the general budget in the coming days,

 indicating that there is cooperation between a future executive and legislative branches. Jubouri said at a press conference at the parliament building and attended by “tomorrow Press”,

 “The hearing on Wednesday will be important, because it will determine the president of the republic will be elected president by secret ballot,” noting that “there are figures efficient submitted its candidacy for the presidency of the parliament was considering them”.

    [millionday] NOTE — THEY WERE TO PASS BALLOTS TODAY — REMEMBER ALL IS NOT IN THE NEWS

    [millionday] He added that “the Presidency of the Council deplores the displacement and killing of Christians and other communities in the provinces of Nineveh and Salahuddin, Diyala and Anbar,

and what he suffered Christians recently does not represent and reflect the ethics and values ​​of the Iraqi authentic,” explaining that “the Council adopted, inter alia, to work on restoring the political process back on track During the coming period.

 The Jubouri that “the House of Representatives to form temporary committees to consider the issue of the adoption of the general budget for approval in the coming days,” stressing “the existence of cooperation between the executive and legislative branches.”

    [millionday] NOTE — NOTICE THEY ARE SAYING THE ADOPTION OF THE BUDGET IN COMING DAYS

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

I4U:

[SpecialAgentGibbs] Now why would we be seeing reports of the new TRN/USN showing up in Mexico first???

[SpecialAgentGibbs] OH WAIT….. Could it be an effort to preempt the drug cartels exchanging FRN???

[Papa Bear] G00d enening Dinar Family. The Care Bear is definitely crazy but how many times have you seen him here at this time?r

[GAPatriot60] Papa Bear What’s up?

[FRV] Papa Bear You are never in here this time of day

[Papa Bear] I have just gotten off the phone with Bluwolf and some other folks and thought Id come to visit shortly what do U Think?
….
[lightman1] Papa Bear what did you hear???

[Papa Bear] Folks my twin as I are both concerned about the amount of scams that are out there.

[Papa Bear] The situation is running rampant as we have warned would happen at the end.   Many are biting at others and trying to get Folks confused

generals64] Bear:…the people following the scammers need to be careful….One of the reasons I have literally stayed off the internet is there a many AND I MEAN MANY people that were using my name and screen name….Even though you know I am a grumpy old man you of anyone knows where my heart is….

[Papa Bear] Everyone has their own choice to make but I will never bite at others. Blu and I have for years brought U what we have.  Many have barked at us for telling U this comes from Gods abundance but thats ok.

[Papa Bear] Well welcome to the Castle general.

[FRV] generals64 welcome

Papa Bear] We have all become grumpy as the time has gone by but the Lord has his reasons and I will stick with his path.

[generals64] Simple thought:….Would you give some stranger your pay check just because he or she said she could do you a good job and make you more money?……

[Papa Bear] Folks what I dont want at this late date is for those in PR are any place else in our country to lose this once in a lifetime opportunity because of scam artists

[generals64] You guys, Roscoe got in trouble today he needs your support…..He came in the house got a cold beer out of the fridge lit up a cigarette and put his feet on the coffe table….He is “Grounded for Two weeks”…..He knows better than to put his feet on the table

[granny10] generals64 Beer and cigs OK but not feet on the table…..lol

[generals64] before I have to go let me tell you guys….I promise when this goes down your instructions will be so simple you will laugh at yourself…..If you can read an email…..then you are in good shape….

Papa Bear] Please use your head and what you have learned. We have very important people here now working on the timing. Dont throw in the towel before the final buzzer. YES I

[generals64] dilmus123 :…Oh yeah…listen to PapaBear….hell be kept informed…and folks, I don’t want your dinar or VND….I want you and your family to succeed in your financial endeavors.

 [Papa Bear] generals64 And how many times must we tell U Folks, this will be simple and life changing. Don’t make it hard on yourself after this length of time and anguish

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

GET:

The GET Call will be cancelled tomorrow. TK received a call from his main source out of Washington and they said due to the sensitivity of the announcement of the President and PM of Iraq, it would be in our best interest not to have a call. So buckle up your shoes the RV is coming.

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

TNT:

Already Blessed:TONY AND DC ARE BOTH IN A GREAT MOOD BECAUSE WE ARE ALL IN A GREAT POSITION! WE ARE GOING TO BE GAZILLIONAIRES SOON!

Charellis:   I just got word from a source… Public Goes Friday…. just in…. I havent heard from the source for a long time and all of a sudden today… Public to GO FRIDAY

Zzzzzzzzz:  Hi charelis… how reliable is your source??? 

charellis :  ZZZZZZZZZZZZZZZZ my source has already exchanged Dinar…

zzzzzzzzz:  that is pretty reliable then!!! Now I am getting even more excited.

GJHHonor mrs.)) on recaps omegaman July 22, 2014 at 12:22pm They can’t hide it anymore; the truth is out; we are there: PUBLIC EXCHANGE FRIDAY

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

KTFA:

Tuesday Night KTFA Conference Call:  Approx:  101  Minutes Long.  The first part is a bible Study and the Second Part is Iraq/dinar Intel

https://www.freeconferencecallhd.com/playback.html?n=OTQCw/jWFyV

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

Dinar Chronicles:

wmawhite:

[i think folks are getting upset wondering about this investment...some are thinking its gonna be a long time or not at all...what can you tell us please?]

wmawhite:when I invested Dr. Shabibi would never ever tell me the date nor the rate. Of course, I never had the opportunity to ask him. However, starting last June and leading up to the removal of sanctions, Iraq spoke a lot about returning their currency to greatness. Nothing has changed. Each day it becomes more and more important for the CBI to move forward with the IQD

[...they just need to revalue their currency then, huh?]

wmawhite:  yes they do!  It is a timing issue now…not an “if” issue.

Threatened the National Coalition, which includes formations outside the Shiite coalition in alliance with other political blocs to form a government, insisted that if Prime Minister Nuri al-Maliki on his candidacy for prime minister, pointing out that the positions of the president and two vice presidents have become almost a foregone conclusion.

Slim said Shawki MP for mass citizen stuck if al-Maliki as prime minister and not to nominate an alternative person bloc, the rule of law will be in isolation for the National Alliance, and will have the rest of the components of the alliance into an alliance with other forces to form a government.

LINK

Aloha Alex:  We are witnessing an amazing move! The new POP is sticking it to Malaki and I’m sure he is pissed to no end. If Malaki is futile in any attempt of rebuttal, it will mean the true begining of his loss of power in a concrete and visible manner.

We may see some crazy stuff coming from his camp between now and tomorrow

Mike:  Tlar, what version of the budget do you think they’ll vote on this Wednesday?

The reason I ask is that the budget Parliament currently holds is the same one rejected by the Kurd’s and Sunni’s in the last session. Has the Finance Minister re-submitted a revised 2014 budget?
~~~

Mike Continues:   Procedurely, the FM and Finance Committee hammer out the budget and then submit it to Parliament for ratification. As far as I know, the budget begins in the CoM and committee’s, not Parliament.

I’m hoping that Parliament can get the President and the two VP’s elected this Wednesday, then he can call on the NA to present their nominee for PM. That would be a huge accomplishment! 

Procedurely, electing the PM is the same as the President, so maybe Parliament will have the same opportunity to vet and vote on multiple personalities for PM. If so, then Maliki will lose numerically.

 I would be very surprised if Parliament approved the previous budget this close to installing a new PM. This is Iraq, though,  anything’s possible.  :)

Rissas Dad:  Mike, werent there articles stating Jabouri’s committee was working on reviewing the budget?  Perhaps this committee is revising (ie removing Maliki’s BS) from it so they can get to work right away reading and passing it? 

Mike:   That’s a good point, Rissas. There are talks about creating committee’s to review the budget and submit changes that will enable it to pass.

 There were several key points that needed to be addressed like the Kurd’s 17% and the punitive clauses directed at them for production. The provinces have also refused this budget because Maliki removed the $5 per barrel that was pumped from the oil producing regions.

Also, there is a lot of discussion about the Executive Branch’s control and regulation of public monies, Maliki really loosened the purse strings and empowered his branch of government. Bottom line, there wasn’t enough support for the existing budget.

Procedurely, the Finance Minister and Finance Committee submit budget’s to Parliament, not the other way around. Parliament isn’t constitutionally empowered to create budgets for Iraq, they approve or reject them.

Ralph:    Virtue: the existence of a serious desire to pass budget

21:04   07/22/2014   Confirmed a member of the House of Representatives on the mass of Virtue parliamentary Ola Aiv return to the presence of a serious desire of the members of the House of Representatives in approving the general budget of the country and the need for state institutions to be ratified as soon as.

She told Aiv in the Iraqi street, awaiting the approval of the general budget as soon as the completion of stalled projects, which impacted negatively on the country’s economy, which hit the state facilities completely paralyzed     http://www.waradana.com/news/iraq/19/54348/

Mike:   Thanks, Revbo. I’ll admit, I still don’t get it. Iraq is broke, projects that are already approved and in progress have been stopped becuse there’s no money available. I guess it’s important that the projects are now legal, but if you’re broke, you’re broke.

HandOverFist:   Mike, if they have an RV then they’re not broke anymore.

Mike:     If I had a dollar for every time I heard the budget had the RV in it I wouldn’t be broke anymore either. :) Honestly, I think this is just another snipe hunt.

Both Shabibi and Turki told us that they need a stable government before any changes would be made. I don’t think we’ll see anything change until the President, PM and CoM are settled, because that’s what Turki wants.

Rissas Dad:   Im with you mike.  Budget is probably connected to what we want but not more than a seated stable government (without jack-leg)

HandOverFist:    The way I understand it, Mike, they need the RV to FUND the budget………..so if they pass the budget, they’ve got to fund it (with an RV

Mike;   For now, the budget’s are directly tied to oil revenue, not an RV. Iraq uses both the dinar and the dollar when determining each year’s budget for clarity.

If you calculate how much oil they pump you’ll see that the budget matches up almost perfectly. (2012′s budget did run at a small deficit) An RV would change the amounts in the budget, but until Iraq has some other form of revenue, that’s what they peg their budget to.

Iraq has created budget’s for years and funded the government through their oil revenue. If Iraq RV’s north of $3.00, this will greatly reduce the cost of infrastructure costs, becuase their currency is worth three times what the dollar is worth, effectively reducing their costs by 66%.

That’s the chief benefit of an RV to Iraq right now, that and international recognition of their currency.

Rissad Dad:    Yes maam, been hearing that too for years.  We’ve had budgets but no RV.  Therefore have to file this as “guru lore”.

HandOverFist:   Didn’t Tlar tell us this, about RV funding the budget?  Am I mistaken?

Mike:   I can’t speak for Tlar. Maybe he knows something I/we don’t know or understand. But, I’ve heard for years that the RV was hidden inside a budget and that Iraq just needed to open it for us to realize our gains.

I will say that the current budget Parliament holds is probably the same one Maliki and the FM sent in Feb/Mar, if anyone knows of a re-submitted budget please speak up.

It was pretty clear from the response from the Kurd’s, Sunni’s and the provinces that they did not like this budget and would not approve it. So I ask, what’s changed since then?

The only folks calling for the budget to get in front of Parliament is Oula Leyeith and Haitham Al-Jabouri, both are Maliki’s people. Isn’t it curious that the Kurd’s and Sunni’s are quiet about the budget?

I think it’s because only Maliki and his folks are concerned with the budget right now, for what reason, I don’t know.

 I do think Parliament is grabbing the bull by the horns and re-working it before they re-submit it to the new FM and Finance committee, but Parliament is not empowered to create and approve their own budget, that’s the job of the FM and FC.

Tlar:   Mike, Iraq is not broke.  They have no money because they have not passed a budget yet.  The money will start to flow and these projects will be funded as soon as the budget is passed.  The budget fiasco is the reason the projects were halted to begin with.  Tlar

HandOverFist:  So, Tlar, are you saying they need the RV to fund the budget?  Or do they fund it from oil revenues?

Mike:  Today, July 22nd, Iraq is broke, once they pass the budget, they won’t be broke anymore, that’s all I’m saying. Of course, once they re-tool the budget and pass it, they’ll have money to pay salaries and re-start the infrastructure projects and put these folks back to work.

Quick question, has the FM re-submitted a new budget to Parliament for a vote or is this the same budget that was sent earlier this year? Thanks in advance for your response.

BlueyesinLevis:  As far as I knew…. the budget was ok.. but it had a bad paragraph added by Sharistani and Maliki.  How difficult could it be for Joubari to delete the offending paragraph.. adjust the Kurds 17% to 25% ( Based on the Kirkuk Region) and BINGO.. the budget is all good.

I know.. it is Iraq after all…. lol  Then there is the idea, based on a few articles,  that they are going to pass the 2015 budget at the same time as well?…. all we can do is wait.

As far as the secret vote for PoR… yikes.  I hope it goes better than the secret votes on the  Survivor Tribal Council’s….  I am looking forward to them extinguishing Maliki’s torch… and telling him … “time to leave the Council area, you’ve been voted off of the Island.”

Tlar:  RV is just an RV.  As the value of exchange rate goes up, all costs will come down by the same amount including debt and salaries.

 The only wealth creation will be in the money in the streets as far as Iraq is concerned just like it is for you and me..  The RV is just a part of restructuring of monetary policy and has nothing to do with work stoppage taking place in Iraq right now.. 

The reason that these projects were stopped is because the budget that was supposed to be passed on January 1st, is still not passed and the monies stopped flowing. 

These are mostly multi year infrastructure projects and funding has to be in each budget each year very much like when after years of funding the Super Collider, our congress decided to remove it from the budget one year in other words stop funding it, and it killed the project. 

Much of large infrastructure projects is done over consecutive years and even though there exists a known plan, monies to continue these projects have to be re-allocated each year in the budget.

  It is as true with the Iraqi budgets as it is here in the US..  It is like funding for departments in Iraq.

 If they don’t get funded they are operating on a wish and a prayer many unable to pay salaries months at a time. 

There exists some monies for emergencies such as this but it is not enough to carry on large projects.

  They have to be refunded each year.  Without a budget, salaries stop for many, projects are stopped or shut down, many items planned for are on permanent hold until they get a budget.

 Once they pass a budget these will start to flow again and i6 has nothing to do with the RV and everything to do with passing a budget. 

That is why it is extremely important to get the budget done and thank god for Jubouri. 

If this was left up to the present government, they would continue to play games hoping to starve Kurdistan into submission all the while casting blame on everybody themselves.  tlar   

Mike:   I believe there were several other items as well, funds paid to oil producing provinces were removed as well as language related to Executive Branch controls and expenditures.

 I don’t see the Kurd’s getting 25% of the budget yet, Article 140 has not been legally settled yet. Sure, the Kurd’s control Kirkuk right now, but this will have to be addressed later so that re-settlement issues, compensation and the government functions can be changed to reflect Kurdish control.

 I don’t believe Parliament can solve all these issues in time for a vote tomorrow.

RDiddy:  Can someone help me understand why many believe the budget needs to be passed prior to the RV?  I’m foggy on this point and would really appreciate some clarification.

BlueyesinLevis:  Oh, yes…. I agree Mike.. the budget wont get worked on tommorrow… heck… they will be lucky if all they do is get the names of the candidates written in a book. These guys never get stuff done quickly or in bulk.

That said…. we will see if they actually follow through with the vote for PoR…  crossed fingers.

My comments about the budget were kinda generic… just wondering aloud if it really will be that difficult to do.. once they take out the SoL/Dawa trash… and there were those articles about the 2015 budget being tied to 2014…. hmmm?

Mike:   Blue, Wouldn’t it be great if they actually got the President and the VP’s elected tomorrow! It would be another great day for Iraqi poitics, the budget will get handled once the GOI is settled

Tlar:   rDiddy, I will tell you what I believe and then I will take the heat.  The Finance committee wrote this budget.  They told us in three articles in November of last year that they wrote it at a different rate for 2014 than the 1166 that the dinar was at.

 They also stated based on the new rate they scetched out the 2015 and 2016 budgets. 

If they were not just speaking out of the left side of their mouths, this is the first time we have ever seen in articles them stating that this budget has a different rate change in it. 

If it does have a rate change then logically the dinar value has to equal that change because this is Iraq and their budget will be written in dinars.

For example and that’s what this is.  If the budget allocates 1 million dinars for a project and the Finance guys wrote the budget meant to reflect the dinar at a 1 to 1 exchange value, then they intended the recipient of this part of the budget to get 1 million dinars equal to 1 million USD at 1 to 1.

 If the CBI does not change the value of the dinar to equal 1 to 1 but leaves it at 1166 to one USD, then the recipient would receive approximately 1000 USD value to do a 1 million USD value project.  It is vital that the budget and the money reflect the same value.

Why would they write a budget that is for a different value than the value of the present dinar?  To coordinate the budget with the CBI’s change in value of the currency is the short answer. 

The CBI and the Finance committe have been planning this project since 2010 and it would make sense that they would work together using specific amounts and specific start times based on dates or events.

 It is my belief this is now based on an event more than a date because the date is a moving target and passing the budget will be a fixed event. 

That event being the budget itself being made retroactive back to an agreed specific start date.  That date could end up as January 1st or April 1st.  It makes no difference given the importance of the project.

Once the budget is passed I believe we will see the RV but that is based on what the Finance committee told us in November of last year about how they wrote the budget. 

All right guys, have at me but please debate me respectfully don’t just trash me.  Tell me why I’m wrong based on what I have said and you believe, knowing we have never heard from anyone except gurus about these two items being put together.

 I believe for the first time the RV and budget are together also acknowledging this is the first time ever we were told in advance that the budget for 2014 was written in a rate different from the 1166 we have come to know and love by the guys who wrote it.   Go ahead.  I’m all ears. tlar

Mike;    No bashing, just more questions :)  Hasn’t the draft budget been released for review? If the rate was in the budget, wouldn’t that defeat the secrecy of the event to prevent arbitrage? ‘

I’ve seen numbers of 180 trillion dinars that are attached to the 2014 budget, that would indicate that the rate is not in the budget, no country has a budget of 180 trillion dollars. (If the rate was 1-1)

You’re right, guru’s in the past have linked the rate to past budget’s, and budgets come and go without the RV. Anything’s possible, this is Iraq, but I haven’t seen any evidence in the budget submitted suggesting an RV.  Let me know what you think, respectfully, Mike.

HandOverFist:  Okay now! That’s more like it. I knew you said something about the budget and the RV (budget written at new rate). I just didn’t remember it exactly right. Thanks Tla

Mally:    thought there was something about them needing to do budgets two years at a time according to the imf to be article 8 compliant?  This is the first budget post chapter 7 sanctions and it  would just make sense to me that they would do their monetary reform before the budget is passed but they dont always do what makes sense to me.

Tlar:  Mike,  That is an interesting question to which I can only speculate.  I also saw that and you are correct.  I came out about a week or two after the budget was written. 

Were it me that was in charge and I had to release it but at the same time I wanted to keep it silent, I would have asked the FC to produce a dummy  version for the press showing the same allocations at the presnt rate of 1166 and that’s what I would have given the press. 

It sounds deceptive but the numbers would be right but would be transposed to reflect the 1166 instead o9f the new rate.  Just my speculation Mike as is alot about this investment.

 If we had all the answers, there would be no questions.  It is only when they open the budget will we really know.  I am coming to my conclusions on the outcome by those three articles only.  Tlar

LuckyLady:  The budget first and then the RV or vice versa has been bantered about for an awfully long time.  Tlar’s conclusions make as much sense as any of them do and I don’t pretend for one minute to know whose correct or not.

 I’m just wondering if they open the budget and there is no RV shortly thereafter…..then what??  What could we possibly be waiting on then, besides a stable government and how long will it have to be “stable”

Tlar:   The order doesn’t matter if I’m right.  They go hand in hand and one will closely preceed or follow the other.  If they don’t I haven’t got a clue where this goes from there. 

They have to be tied together or my whole premise is wrong.  Unacceptable to me.  They are tied together or for sure there will be no tlar left by the time they pick my bones clean.  Tlar

Luckylady:     Well, I can’t think of anything more distressing than the thought of your bones being picked clean so here’s to a budget and an RV or vice versa. It doesn’t really matter to me.
Thank you tlar.

PreacherMan:   Tlar, I also believe they are tied together, I dont believe we will see a rate until the budget is passed.

I also feel that the rate has to come at at a set rate, from there we will either see the strength of the dinar or the weakness.

I also feel the rate, to meet the projections, has to be a rate to reckon with. 3 plus

www.currencychatter.com

Tman23: “Legal expert known as Tariq Harb, was ruled not to be a Parliament session to vote on the election of the President on schedule on Wednesday after completing numerous actions, and said that the election of the President of the Republic will not be on 23 July but in August…”

Appears that many don’t want a vote taking place on Wednesday for the POR…It’s going to be a huge Wednesday in Iraq.

Tman23: “Legal expert known as Tariq Harb, was ruled not to be a Parliament session to vote on the election of the President on schedule on Wednesday after completing numerous actions, and said that the election of the President of the Republic will not be on 23 July but in August…”

Appears that many don’t want a vote taking place on Wednesday for the POR…It’s going to be a huge Wednesday in Iraq.

BAGHDAD   -EU confirmed on Tuesday its support for the Iraqi government and the unity and sovereignty of Iraq.

A spokesman for the High Representative of the European Union Michael Mann said in a press statement that “the European Union is a partner with the Iraqi government and has many of the partnership with it, and the EU continues its political support to maintain the unity and sovereignty of Iraq.

LINK