Description Citibank Global, which opened the end of June past Moktaba him in Baghdad, “that Iraq is the biggest goal” in the banking activities in the future.

I4U:

[Guitarman56] Robertprofessor I tend to lean to the positive side of thing’s or I probley wouldn’t be here after 8 year’s, imo the announcement will be in the un or somewhere the common folk want see it, but it was good to see lew speaking about the debt.

Robertprofessor] Guitarman56 The UN is the body that slapped Ch. 7 on Iraq and brought their currency down to nearly no value. It makes sense that a UN announcement would complete the circle to return the dinar to its real value.

[blackjon] the un can take them out of 7 which it has partly but they have to raise their own rate

[Guitarman56] Robertprofessor I would love to see O or anyone get on tv and say we have an rv but that’s not going to happen IMO, it’s just gonna show up.

[Robertprofessor] Guitarman56 I really don’t care how it happens, but that it does happen soon. It’s Okie’s post and the emails that we need. Before that, it’s a story to follow … or not follow.
….
Read More Link on Right

[IvanTulafitov] hi folks… recording Jack Lew… seems to be same message on all channels *nothing much re GCR if anything really

[tinman54] Lew was taped Friday afternoon according to David Gregory on Meet The Press. Lew sounds just like another hack. IMO

[Cyndee49] maybe speech A is business as usual and speech B would have said world system was not going to be saved because some villans held things up????

[IvanTulafitov] they arent speeches tho… interviews same talking points

[IvanTulafitov] so the Q is is this the Plan A or B ummmm

[gdsgrl21] NO ONE should feel down about Lew – we don’t know yet!! I have a feeling of expectation – SO exciting…at least we are SEEING with out own eyes movement!

[Iank1978] There’s HAS to be mention of going back to the gold standard to explain why 198 countries reset their currencies etc there has to be an explanation at some point IMO

[pokerbrat] I think it is speech B. Lew seems to be saying they need to stop worrying about cuts. ( cuts not needed if debt gets paid ) warming the talking heads up for bigger news I guess?

burk50] Jester Said in few days if B speech A in few Days read on recaps

[heartfelt]  I honestly don’t think a Plan a or b matters. Confusing times for sure but we KNOW it is going to happen. We just need to PRAY this in. We are part of the HOPE & CHANGE!

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

TNT:

[al] fox There may be some of the PtB that (old money) that don’t want to see a portion of the masses to become wealthy but I think there is another element of high level folks that do. It is an experiment that has never happened before in history and will cause change never before seen in the world at large. It remains to be seen whether it is good or bad.

Zoral:I found most of this very well written with a LOT of food for thought.  Hope you do too.  Z
 
Link for whole article is at the bottom of this.

***********

“The grand plan we are witnessing now is nothing less than historic. Yes, historic. Let’s take a quick review of what has transpired over the last six weeks or so.”

–  June 7 – 9th: President Barack Obama and Chinese President Xi Jingping meet in Palm Springs, California for negotiations on the Basel III accords, the Global Currency Reset and the Restoration of the Republic.

– June 27th: The United Nations Security Council votes 15 – 0 to lift Chapter 7 sanctions against the country of Iraq after nearly 23 years of hardships on the Iraqi people. This is Iraq’s biggest achievements since the ouster of Saddam Hussein a decade ago, allowing Baghdad to regain control over its own currency, oil and economy.

– June 28th: The Iraqi Stock Exchange (ISX) is officially approved to become part of the NASDAQ system.

– June 28th:  An accountant employed at the Vatican bank, Monsignor Nunzio Scarano, is arrested and charged with smuggling large caches of money across international borders.

–  July 1st: Two top officials at the Vatican Bank resign amid a growing money laundering scandal as rumors continue to swirl Pope Francis may shut down the scandalous and criminal Vatican Bank entirely.

–  July 2nd: The Federal Reserve Board votes 10 – 0 to adopt the new Basel III banking regulations.

–  July 9th: The Federal Depository Insurance Corporation (FDIC) also votes to adopt the Basel III banking regulations.

–  July 9th: The Office of the Comptroller of the Currency (OCC) agrees to adopt the Basel III provisions.

– July 10th: Treasury Secretary Jack Lew meets with a Chinese delegation to work out final details of the Global Currency Reset.

– July 11th: An updated version of the Glass – Steagall Act is reintroduced for vote in the US Senate led by Senators Elizabeth Warren (D-Mass.) and John McCain (R-Ariz.) which would require all the major, “too-big-to-fail” banks to be completely overhauled and downsized.

– July 15th: The Iraqi Stock Exchange opens for international trading for approximately two hours to test if their system interfaces correctly with NASDAQ. In order for the ISX to conduct international trading, the logical next step is for Iraq to revalue their dinar in order to have an internationally recognizable currency.

– July 18th: Confirmed reports emanating out of the United Nations (UN) insist the revaluation of the Iraqi dinar was announced within the UN itself by two foreign countries, one of which may have been the delegation from Iraq.

– July 20th: Fox News briefly reports US Secretary of State John Kerry offering confirmation of the adoption of the Basel III banking regulations.

– July 21st: Numerous reports of banks across the US, and apparently some in the UK, announcing to their customers various down times for system maintenance including the international service known as SWIFT (Society for Worldwide Interbank Financial Telecommunications).

– July 23rd: More rumblings coming out of the UN as a growing chorus of impatience continues to swell amongst some its member nations who openly question why the Global Currency Reset has not been enacted yet.

By any stretch of the imagination, the sheer number of astounding events listed above marks nothing less than a complete changing of the guard. These kinds of developments would not even happen, if the old regime was still in charge. We simply have not seen this kind of significant activity on both a national and international scale ever, ever before.

STAGE IS SET FOR A RETURN TO THE GOLD STANDARD

What should we expect to see next?

continued:  http://www.miraclesandinspiration.com/news_the-rebirth-of-the-republic.html

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

GET:

Topic: Never underestimate the impression you may make on others. Whose life have you touched today?

[tedd123] For what its worth….gold is on a constant decline..   http://www.xe.com/currencycharts/?from=XAU&to=USD&view=10Y

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

MIG:

xyz] China orders audit of government debt: 28 Jul 2013, 14:53  China has called for an audit of all government debt, the national auditor announced Sunday, as concerns grow over official liabilities. http://economictimes.indiatimes.com/news/international-business/china-orders-audit-of-government-debt-reports/articleshow/21423976.cms

[xyz] She said the United Nations Special Commission war damages resulting from Iraq’s invasion of Kuwait in 1990, she handed over one billion and U.S. $ 70 million to Kuwait. . ….There are around 10 billion and a million dollars was given to the Commission, but has not yet received a number of claimants.   http://www.sotaliraq.com/mobile-news.php?id=109770

[xyz] Lew on Sunday warned Congress against manufacturing a crisis over federal spending in the months ahead, as looming deadlines set the stage for a repeat of the political deadlock which two years ago triggered worldwide financial market turmoil. …”We need to get the debt limit extended in a way that doesn’t create a crisis,” Lew said. .   http://www.reuters.com/article/2013/07/28/us-usa-economy-lew-idUSBRE96R06520130728

[xyz] Treasury’s Lew: Congress needs to pass debt limit .   http://hosted.ap.org/dynamic/stories/U/US_LEW_BUDGET_BATTLE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-07-28-09-39-16

Millionday News 7/27/13

    [millionday] ok i have an economic report i want to bring  here we go

    [millionday] Confirmed that the local market focus the world’s attention New ambassadors of Britain, Australia, Japan willingness of their countries to invest in Iraq came during a reception and banquet action was brought by members of the public of the Association of private banks in Iraq in honor of ambassadors.

 In his speech said British Ambassador Simon Coles said the future of Iraq is a very positive indicator that he has substantial resources can employed to achieve economic development in particular, and he enjoyed a growth rate of 9 percent, according to international estimates and reports.

Read More Link On Right

     [millionday] He added that the companies and the major British banks have the desire to invest in Iraq because of the importance of the Iraqi market in many countries of the world and in answering a question (morning) for inhibitor for the companies to invest in the country,

said the circumstances experienced by Iraq made it’s gray with him at most companies mission and raise concerns, but it needs to be an active role for the Iraqi private sector to change this image and promising to work together in order to encourage British companies and banks to come to Iraq.

    [millionday] He noted that the embassy staff works hard to transfer the real picture to the British government for successful performance and quality of Iraqi banks and the possibility of investment and participation in, stressing his country’s keenness and support to achieve reform and economic stability in Iraq.

Revealed the British ambassador about the intention of the embassy opening port in Arbil, Kurdistan to grant visa to Iraqis and the end of the month. The British Embassy has opened an outlet in Baghdad recently for the granting of visas for Iraqis to facilitate their travel after it was granted to them in Amman.

    [millionday] this is very positive news   and there is more we may get a clue from this and their country news so brb with more

    [millionday] He expressed the British ambassador’s willingness embassy to provide all facilities for the money men in Iraq in coordination with the Association of private banks in Iraq as the body representing the private sector.

Lama Ambassador of Japan Mpso Mo is the other gave a speech addressed the role of Japanese companies in the implementation of infrastructure projects in Iraq and many projects strategy.

    [millionday] They noted that Japanese companies are willing to invest in Iraq, but are looking for a solid banking sector is able to provide its services and we are working on activating this aspect with the League at the moment.

Australian economic cooperation As expressed Ambassador Australia Lendl Sachs her country’s desire to deepen economic cooperation with Iraq in various fields, especially in the field of various industries, which is famous for its Australia and that can be transferred to Iraq for the advancement of production, where it can be broad investment in this area, which has all the ingredients for success.

    [millionday] note — looks like something positive has happened with them back – there is more

    [millionday] He was president of the Association of private banks in sweat Adnan Chalabi has made a detailed presentation about the nature of activities undertaken by private banks in Iraq and the size of big money hoping to strengthen cooperation and partnership with international banks to strengthen the financial capacity to accommodate the requirements of construction and reconstruction, investment and development in the country.

    [millionday] The representative called the Association of the Economic Commission of the Council of Ministers Nawzad dry to the ambassadors in building bridges of cooperation between the Iraqi banks and banks of their countries after they admitted in their speeches potential large possessed by Iraq to contribute to the reconstruction and construction and investment in order to achieve economic development programs in the country.

Pointed out The Iraqi banks have solvency after raised their capital to implement the decision of the Central Bank of Iraq that contributes to the provision of banking services required for companies wishing to invest in Iraq and its willingness to participate as well.

    [millionday] ?>>>>>>>>>>>>>>>>.. Pointed out The Iraqi banks have solvency after raised their capital to implement the decision of the Central Bank of Iraq that contributes to the provision of banking services required for companies wishing to invest in Iraq and its willingness to participate as well.

    [ROBINREDHED] im invested

    [millionday] me too!!  raised capital – hmmm there is more — smile

    [ROBINREDHED] yay

    [millionday] smile

    [millionday] As a member of the governing body of the Association of Wadih Handal has said in his speech during the ceremony that the private banks were able, in cooperation and coordination with the Iraqi Central Bank to stabilize the exchange rate of the dollar against the Iraqi dinar.

Said Handal ambassadors invited keenness of the private sector to support development programs through the implementation of measures and decisions of the Central stressing the power of the Iraqi dinar and sedate the local economy of what is owned by the Central Bank of the cash reserve is able to cover the needs of Iraq in all circumstances.

Promises ambassadors Took place after lengthy discussions between the ambassadors and representatives of banks on ways of cooperation and partnership truth for the advancement of the Iraqi economy emerged from the ambassadors promises to provide support and facilities necessary to activate the ties of cooperation with Iraq in general and the private sector in particular.

    [millionday] wow — so they are saying this

    [millionday] with the interaction of the international banking community as we see here — they are able to raise the dinar and stabilize the dinar through the application of the reform — very nice — huge speech for the citizens

    [millionday] this is great news and seems very close for this to be a group speech in the support of the banking reform ect very nice — big smile   brb with more

    [ROBINREDHED] very very

    [millionday] what ya think red — whoop whoooop in order ?

    [ROBINREDHED] love it

    [millionday] whooop whoop  me too

    [Fresh] ROBINREDHED millionday looks AWESOME!

    [millionday] also without bringing the whole law

    [millionday] i would like to tell you they have changed the amounts of the leave pay for governmental and professionals for iraqs and for international contractors

    [millionday] the way it is stated though does not let us know if it is an annual calculation or for the whole three year leave time applied so i will do more research on it but —- this is already printed

    [millionday] brb with more  and they changed another law  oops regulation

    [snowflake59] Millionday, when does the new amounts go into effect or do we know that?

    [millionday] the pay for the widows has been changed to be applied as in the budget for this year

    [millionday] very strange how they changed it as an amendment but the timing to me is very interesting and also how it is stated just to amended to the budgeted amount —

    [millionday] the wording makes it a legal change but — very strange they are hiding the amounts but

    [snowflake59] ok, thanks

    [ROBINREDHED] yeah

    [millionday] if you look at many other issues such as this — they tend to hide many officials pay and recipients ect    [millionday] so just a side note – smile  brb with more

    [millionday] loved the report the international banks are there are stating they will support the monetary and banking reform   love it  brb

    [ROBINREDHED] support it when????? now????

    [ROBINREDHED] hoping

    [millionday] they are on a podium announcing so it would seem very

    [millionday] it seems as a great hurry

    [hstrymknwmn] millionday is this the podium they were building?

    [millionday] not sure —

    [hstrymknwmn] k

    [millionday] at the media center is what she means  im just not sure and dont want to guess smile  here is this on the budget for parliament  ] lets look at this and i will show you some others so we can compare

    [millionday] would love to get a clue from this —  And showed documents seen by the “morning” intercept and kept in the absence of the 214 deputies from voting on the budget of the House of Representatives in 2013, amounting to more than half a trillion dinars.

 However, the Parliament voted preliminary approval after support 108 deputies only them, called a large number of MPs to declare their reservations on the size of the budget. Comes objections parliamentarians on the size of the funds allocated in the budget of the Council, in sync with the criticisms leveled by the religious authority last Friday, when expressed surprise at the size of allocations large House of Representatives. sparked details of the financial allocations for expenses Council operational for the year 2014,

    [millionday] considerable debate among political circles and social development, especially after monitoring the Council 12 billion and 300 million dinars allocations hospitality, and 550 million allowances and travel expenses, and $ 250 million dinars for publishing and media and 100 million dinars to participate in the newspapers, and monitor the amount of three billion and 350 million dinars for the allocation and expenditure of IFAD, and $ 22 billion and 275 million dinars allocations exceptional did not indicate exactly what it is, as well as the allocation of $ 33 billion and 520 million dinars allocations livelihoods.

 MP Mohammad Kayani between the “Center Brief for the Iraqi Media Network,” said a vote on the budget of the Council, are preliminary, but not final, saying his vote “yes” come and according to the need of the legislative institution.

    [millionday] goodness looks like ours — ooops smile

    [millionday] The House of Representatives had voted at its ninth meeting of the legislative term first legislative year fourth Monday the past eight laws notably balancing the House of Representatives in 2014.

and seen the “morning” on documents showing tables names of deputies voting in favor of the budget the House of Representatives, which amounted to 528 billion Iraqi dinars, and other documents indicating the names of deputies objectors on the budget parliamentary included buy bicycles and cars pregnancy, and clothing to the staff of the Council, as well as many other tabs included in the budget.

    [millionday] The document recently that the House of Representatives voting to approve those budget numbered 108 deputies, with the reservation 24 deputies, and objected to 54 deputies, while the number of deputies absent from the session 136 deputies.

For his part, expressed his MP Kazem Al Shammari during his speech for “Center Brief for Media Network Iraq, “refusing to vote to approve the operating budget of the Council. Shammari stressed that the vote on the budget could open the door wide for the financial and administrative corruption.

    [millionday] i would say it would look very much as corruption — cars and bicycles?  lets compare some other country budgets – brb    this is the US of A

    [millionday] The President’s Fiscal Year 2014 Budget demonstrates that we can make critical investments to strengthen the middle class, create jobs, and grow the economy while continuing to cut the deficit in a balanced way.

The President believes we must invest in the true engine of America’s economic growth – a rising and thriving middle class.

He is focused on addressing three fundamental questions: How do we attract more jobs to our shores? How do we equip our people with the skills needed to do the jobs of the 21st Century? How do we make sure hard work leads to a decent living? The Budget presents the President’s plan to address each of these questions.

    [millionday] To make America once again a magnet for jobs, the Budget invests in high-tech manufacturing and innovation, clean energy, and infrastructure, while cutting red tape to help businesses grow.

To give workers the skills they need to compete in the global economy, it invests in education from pre-school to job training. To ensure hard work is rewarded, it raises the minimum wage to $9 an hour so a hard day’s work pays more.

    [millionday] The Budget does all of these things as part of a comprehensive plan that reduces the deficit and puts the Nation on a sound fiscal course. Every new initiative in the plan is fully paid for, so they do not add a single dime to the deficit.

The Budget also incorporates the President’s compromise offer to House Speaker Boehner to achieve another $1.8 trillion in deficit reduction in a balanced way. When combined with the deficit reduction already achieved, this will allow us to exceed the goal of $4 trillion in deficit reduction, while growing the economy and strengthening the middle class.

By including this compromise proposal in the Budget, the President is demonstrating his willingness to make tough choices and his seriousness about finding common ground to further reduce the deficit.

    [millionday] just had to bring that from the first page — not the info from the stats i am bringing but thought it would make you smile   [millionday] brb

    [ROBINREDHED] it did

    [millionday] lol here is something we can use to compare   this is just homeland security here

    [millionday] Provides $39 billion in discretionary funding for the Department of Homeland Security, a decrease of 1.5 percent, or $615 million, below the 2012 enacted level.

The Budget funds critical capital needs and continues a commitment to core homeland security functions, such as transportation security, cybersecurity, and border security.

Estimated savings of more than $1.3 billion are created by reducing administrative costs and streamlining professional services. To improve disaster preparedness, the Budget reforms homeland security grants by allocating resources based on risk reduction.

    [millionday] department of defense

    [millionday] Provides $526.6 billion in discretionary funding for the base budget of the Department of Defense, a decrease of $3.9 billion, or 0.7 percent, below the 2012 enacted level.

 This level provides sufficient resources to carry out our national defense strategy. • Responsibly draws down our military presence in Afghanistan and supports the transition to full Afghan responsibility for their country’s own security.

    [millionday] so as we see — there is the whole amount in dollars as to what they have for dinars for parliament — so cant imagine obviously it would be at the rate it is now

    [millionday] just trying to find some things to use as some type of comparison

    [ROBINREDHED] we get it

    [millionday] but anyway — thought it was going to be more interesting  lol  i know right – anyway  lol

    [millionday] so here is something fan tastico from one of our members dont miss a word

    [millionday] Start delete actions 3 zeros from alamlha July 27, 2013 : Start delete actions 3 zeros from alamlha Baghdad, Iraq (CNN)–Iraq’s parliamentary Finance Committee that the Central Bank, according to official correspondence, will start this year with three zeros deleted from the local currency, saying it will lead to the development of international economic and monetary transactions, in a new twist in the Iraqi currency, which suffered waves of inflation and exchange rates.

“The Iraqi media network,” the official, a member of the Finance Committee, Abdul Hussein Al-yasiri, said that he would begin preparations for the deletion of three zeros from the local currency, adding that the local currency “will cut 4 billion to billion, which will make a smooth transfer currency”.

Yaseri that the Finance Committee “supports the changes to the local currency because of the economic importance to the country.”     [millionday] is that more exciting red?  smile

    [cookie2] millionday I like it bunches!!

    [wmawhite] millionday …this is from CNN!!!

    [millionday] whooop whoooop

    [Godsalli/Jim] CNN ? LMAO

PART 2 CONTINUED


Pak faces currency devaluation against US dollar

Hindu Business Line8 hours ago

Pakistan's Finance Minister Ishaq Dar met the Governor of the State Bank and discussed the fast devaluation of the local currency against the US dollar in the money market in the last few days. A government official said that the finance minister had …
Pak faces currency devaluation against US dollar

Hindu Business Line15 hours ago

Pakistan's Finance Minister Ishaq Dar met the Governor of the State Bank and discussed the fast devaluation of the local currency against the US dollar in the money market in the last few days. A government official said that the finance minister had …

Head of Mission of the International Monetary Fund stressed the IMF on the need to adopt the process of economic reform and broad, as Usher strengths and imbalances in the joints Economic came in a report the Fund’s Article IV of 2013 on Iraq which is the assessment annual appreciation on the part of the International Monetary Fund (IMF) to the economies of the Member States in the Fund, and issue a report accompanied by my assessment of the latest economic developments in those countries, and the expectations of experts Fund for growth in the overall economy as a whole three to five years following the date of issuance of the report.
The section on Iraq, the report is based on the consultative meetings held with the Iraqi side, and the Iraqi private sector and members of the Iraqi civil society, in March of 2013.
economic reform, structural and widespread
Head of the IMF mission to Iraq Carlo Sdrallweg in an interview ( morning): Iraq needs to formulate structural economic reform agenda and widespread, and even more importantly, it needs to follow up the implementation of that agenda with all its contents.
There is still a lot of work to be done in the area of public finance, not only in improving the management of the budget, but more important than that to be in the area of improving growth and poverty reduction as well, and pointed to the importance of raising the quality of spending, and this can be achieved, In the first place, by eliminating waste, and direct expenses to the poor even more. Indicating the need for Iraq to focus on increasing the level of provision of electric power, and the restructuring of state-owned companies owned by the state, and streamline regulations to help ensure its focus on helping the private sector rather than the imposition of restrictions upon, and pointed out that Iraq needs as well as to revive agriculture, including reform of the system PDS has contributed to the decline in domestic agricultural production through large food imports. We recognize and are aware that all these measures are difficult to perform, and will require time. Therefore, the need for requiring the adoption of a realistic approach and settled to achieve all that.
in question (morning) on exposure of the private banking sector in recent times to attack by the pretext of money laundering and illegal transfer of funds. Do you see that building?
said in answering We are not aware of any specific cases of money laundering particular, but we recommend that the Central Bank of Iraq to redouble its efforts in promoting a stable financial sector and safe. In this regard, the commitment of the Iraqi Central Bank Governor on behalf of, and to strengthen the work of the Banking Control encourages us to push for the implementation of this recommendation.
In our view, a lot of work still to be done to improve control over the banks, and examples, supplying banking supervision cadres better, and training courses better, and outsourcing joint (with other government agencies) “co-sourcing” of the functions of the Department of Control banks to the Central Bank of Iraq, to improve the framework for the addition to expand the reach of the regulatory business to include government-owned banks to the state.
Moreover, the improvement of the framework for combating money laundering and the financing of terrorism, in line with the recommendations of the Financial Action Task Force for the Middle East and North Africa (MENA FATF), along with the continuous efforts in strengthening errands control carried out by the Central Bank of Iraq on combating money laundering and the financing of terrorism, it would be that would help in addressing the concerns of money laundering and financing of terrorism and processed. It must also develop financial infrastructure, such as reporting on the historical background of credits and recordings collateral (assets guarantor), and ways of banking technology, in order to support the performance of the banking sector.
and the Iraqi dinar exchange rate and on the role of the Iraqi Central Bank in the currency auctions. In your opinion, what should the CBI do about it?
Sdrallweg clarified the matter, saying that we need to believe that the Central Bank releases foreign exchange system at the earliest opportunity where this editorial is possible technically.
We expect that the relaxation of regulations of foreign exchange would provide the funds needed by the Iraqi citizens in U. S. dollars, and to help the Iraqi economy, and reduces the difference in question, which fell fell sharply in fact, after the measures newly taken by the Central Bank of Iraq, which simplified market transactions, and opened it in front of customers.
This means, the minimum, the opportunity to get any Iraqi citizen on foreign exchange, if it wishes to make any transaction ongoing international legitimate, for example, for the purposes of importing goods, as well as for interest payments, or transfers for expenses family.
The power bank Central
and he said we understand there همين Co يبعثان the concern on the liberalization of the foreign exchange system.
First, some have argued saying that the opening of the auction probably works on the Iraqi depletion of reserves of foreign exchange to levels dangerously low, thereby undermining the value of the Iraqi dinar. It also does not believe that this decline in the value of the dinar will happen on the ground because the Central Bank of Iraq in a strong position with him can maintain the value of the dinar, and because foreign exchange inflows from oil revenues are too high.
The CBI has the amount and plenty of reserves amounting to the level of more than 70 billion U. S. dollars, a large sum to a degree sufficient to cover more than the value of nine months of imports, or to cover more than 104 percent of the money before the broad sense; sense that it is equal to all of Iraqi dinars in circulation in addition to deposits.
misuse of foreign exchange
and The second Alhmin is the ability of the central bank to prevent the misuse of foreign exchange in illegal activities. We do not believe that the currency auctions are the right tool to prevent misuse mentioned. As is the case at the level of international best practices, the IMF recommends that address the concerns of money laundering through the due diligence (or conduct of the study precluding doubt) to customers, and transaction reporting doubtful the Investigation Unit (intelligence) financial, rather than restrict free access to the auction. Accordingly, the liberalization of auction foreign exchange needs, in parallel with the editing, to be accompanied by a strengthening of errands regulatory carried out by the CBI and other government agencies on combating money
laundering and terrorist financing.
Asked about the possibility of moving to a free economy in line with the Constitution Iraq?
drew Sdrallweg that Iraq did not adopt clear economic policy (economic model and clear) and live in a state troubled between a planned economy to him (router) and the free market economy. and pointed out that the model of the current economic growth, which play a government the dominant role in the Iraqi economy, taking a its limits.
In order for any free economy to develop on a sustainable basis, the government needs to implement a combination of macroeconomic policies, good governance, and to enhance the delivery of services, and the rebuilding of infrastructure, particularly in the electric power sector, in addition to strengthening the business environment, these measures will support the growth of the private sector, but last but not least, it is imperative for the government to know the limits of the maximum capacity, in order to leave space for the private sector to flourish.
Asked about his vision for an increase in oil production and exports? Do you agree with the official forecast for this increase?
said, assuming that the investment plans ambitious for the Iraqi government will be realized on the ground, we expect to increase oil production gradually, about 400 – 500 thousand barrels per day in each year, to 5. 7 million barrels per day by the year 2018 . However, this outlook depends on the smooth implementation of plans to develop oil fields, and the existence of a relatively stable security situation. Any delay in the development of oil fields, or in the expansion of energy infrastructure, export, or worsening of the security situation worse, will lead to the growth rate of the lowest in the oil sector.
increased to have to say that our expectations lower to a large extent the expectations of the government, which believes that the production of oil will rise to 9 million barrels per day by the year 2018. We tend to be more conservative; because we are less optimistic about the pace of expansion in the infrastructure necessary for export – which may be a drawback most important in the face of export, as we are more for the sake of cautious about progress on the project water injection, and increase the number of buoys “SPMs” In addition to the high level of domestic consumption.
additional investments
he stressed mentioned in our three key areas of reform in the energy sector. First Iraq, could benefit from the oil and gas law, which shows on a permanent basis, the roles of government, the private sector and the provinces and territories in the oil sector. But we know that the draft law of oil and gas was still under consideration since a long time, which deals with a lot of sensitive policy issues; therefore compatibility between all parties involved in the negotiations on the draft law in question is important to reach a lasting good. Secondly, the situation requires additional investments in electric power production, and the restructuring of electric power producers, and the imposition of tariffs electric enough. These measures are required in the energy sector to provide a reliable source in the supply of electric power to homes, businesses and industries. All of these efforts combined will help in the development of non-oil sector, and ultimately lead to more jobs.
electric energy subsidies
The third axis is the necessity of removing the distorting fuel subsidies provided to producers. In 2011 alone, we estimate the total volume of fuel subsidies of $ (9. 8) billion U. S. dollars, or the equivalent of 5. 4 percent of GDP. This is a very heavy cost for a country like Iraq has big needs at the social level and the level of infrastructure. The electrical energy subsidies create distortions detrimental to the economy, the wheel could discourage investment in the energy sector and in industries that require more intensive workforce, as well as those subsidies create incentives for waste and smuggling. Therefore, it has encouraged us in our report mentioned the Iraqi authorities to reduce those subsidies, and use part of the savings to increase targeted assistance to those who most need it.
and low income of most Iraqi families, what and mechanisms of action needed to develop household economy?
Allweg he dominated both production oil and the public sector on the economy of Iraq. The government is directing the path of the income generated from oil exports to hire / Run Iraqis in the public sector, and to provide government subsidies. In our view, the model of economic growth this take has its limits. The oil sector and the government can not create enough employment opportunities for Iraqi citizens who accelerating population growth. In addition, it has resulted in decades of sanctions and conflict for a loss in human capital and the destruction of infrastructure, which prevents the government from providing basic services to citizens, including social safety nets that work. reduce widespread poverty and unemployment increased, saying, We believe that the authorities Iraq should focus on the creation of an enabling environment for private sector development. We’ve talked a lot about sound economic policies in the areas of public finance and monetary areas.
In order to develop growth, and reduce poverty and unemployment, it is incumbent on the Iraqi economy to be strong structurally. This reality not the case in Iraq at the present time. There is a lot of things that still need to work on it, and we Anttriq in our report only to the key priorities for structural reform, including. credits granted and between in the forefront can say that the existence of financial sector efficient and large to a sufficient degree acquires paramount importance for economic growth, and, according to what experience shows in many countries over a long period of time. In Iraq, the financial sector is still weak, to a large extent but just to give an idea of this weakness, the percentage of “Total credit / loans to the economy,” amounting to about 29 percent of GDP, compared with 55 percent in the countries of the region. However, this figure also includes a number great deal of credit granted by the state-owned banks State-owned government companies owned by the state, so if we look at the total credit granted to the private sector, they represent only 15 percent of GDP, and this percentage is very low.

TNT:

Wethrin: Just pause a moment, and think of yourself parked in that chair on the beach, white sand beneath your feet, cool beer in your hand, water glistening in the distance, warm sun on your face, and the sweet island breeze carrying softly to you the hint of grilled steaks, with an exotic melody being played on the steel drums off in the distance as you watch the beautiful people go about their business. 

As you sit there, you realize you are truly debt free, those you love are provided for, and you dont have an ounce of stress left in your body.  Gently, you notice someone tapping you lightly on your shoulder, “Excuse me,” they say, “Its time for your massage”…. 
Do you receive it today?     It’s going to be goooooood!
 
[musicman] When you start to step out of the dinar box into the real world applications of inte gathering it make perfect sence. You are trying to get information that others are trying to hide

[Dr Rich] . Last Saturday, the G20 all agreed for all of the currencies to have a free float, and to be driven by the market. Eventually, the IQD will have a managed rate, and will not be allowed to free float. Dr. Shabibi has told us all of his plans, so why can’t we just understand what he is saying. And, yes he is still in control of the CBI for the IMF!

[558626listner]  the global reset was designed to take the lack of manipulation and transparency away and the free float seems to me to still allow for those two things where the managaed float support by laws in effect does
….
Read More Link on Right

[MarkF] I have heard we are in a 24/72 hour window.

[bigjohn&sugarbear] Wish someone would break the window so we can get out    

[BigGameHunter] Here’s my recommendation read when for coming into great wealty. Three books I will recommend ALL to read. Tax Free Retirement Patrick Kelly, All About Annuities Gordon WIlliamson, The Power of Leveraging the Charitable Remainder Trust: Your Secret Weapon Against the War on Wealth Daniel Nigito.

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I4U:

[Diogenes] Jack Lew to be on four major networks Sunday morning to discuss growing the economy from the middle class out.    http://www.treasury.gov/connect/blog/Pages/Tune-In-Secretary-Lew-on-the-Sunday-Shows.aspx

[justbelieve7] Austin-Powers-For-PM Did you see this clip on Fox news yesterday with Varney about investing in Iraq?   http://video.foxbusiness.com/v/2567683635001/should-you-invest-in-iraq/?playlist_id=932683241001

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MIG:

[xyz] omg HOTTER AGAIN? ….. Iraq Stock Market Report . Note: The Iraqi Government has announced that next Thursday (August 1, 2013) will be a public holiday due to high temperatures. Therefore, ISX will be closed on August 1, 2013.   http://www.iraq-businessnews.com/2013/07/27/iraq-stock-market-report-87/

[Labrador99] xyz they have better weather forcasting than we do! LOL LOL

[xyz] Labrador99 lol

[Achmed] it’s always hot in Iraq, something is going on here

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Stage2Omega:

DIRECT INTEL (1) 12:31 PM EST SATURDAY JULY 27
Posted by EXOGEN on July 27, 2013 at 12:32pm
3 CONFIRMATIONS EVERYTHING WAS COMPLETED & RESOLVED AT THE UNITED NATIONS YESTERDAY AT 3:30 PM EST

“BELIEVE THIS OR NOT JUST HUNG UP WITH ANOTHER CONTACT, ITS GETTING INTERESTING, MORE PEOPLE ARE CONFIRMING. THE ACTIVITY WAS TIED TO THE PARIS CLUB DEADLINE BY THE WAY. JULY 26TH WAS THE DATE SOMETHING HAD TO HAPPEN BY.IRAQ HAS DELIVERED……..”

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

Hurry Up Slow Pokes!

Posted by ARTHUR on July 27, 2013 at 7:03pm

Banking sources: Outlook of the dollar against the Iraqi dinar in the coming days

Saturday, 27/07/2013

Parliamentary sources confirmed, Tuesday, that the rate of the Iraqi dinar will rise versus the dollar in the coming days in light of steps taken by the Central Bank of Iraq. According to a source in the Iraqi Central Bank “parliamentarians, officials and economists praised the reduction in the exchange rate of the dollar and the high price of the Iraqi dinar in the light of steps taken by the Central Bank and banks in this area, which is reflected in this activity”. The source stressed that “this is expected to continue to decline for the dollar and that the rate of the Iraqi dinar has improved more over the next few days according to the indications of the Central Bank and the market.” The report recommended that the International Monetary Fund, Iraq the pace of structural reform to boost growth and job creation in the private sector, and the need to continue the rational management of the foreign reserves of the Central Bank of Iraq and the Development Fund for Iraq. The Bank had earlier said (19 July), that Iraqi banks Association agreed with the Central Bank reduced the cash dollar exchange rate instead of the dinar to 1180-1184 Iraqi dinar as of last Sunday, with the expectation that you responded to this initiative, all banks, he indicated that this reduction will bring great benefit to the citizen.

http://www.microsofttranslator.com/b…%3Fnid%3D16713

(ARTHUR) WE HAVE SEEN THIS WRITE UP BEFORE BUT NOT MANY DIRECTLY FROM “BANKING SOURCES.” SO THEY ARE SAYING, BACK ON TUESDAY, IT WAS ALREADY CONFIRMED THAT “THE RATE OF THE IRAQI DINAR WILL RISE VERSUS THE DOLLAR IN THE COMING DAYS.”

THEY ALSO SAY THEY ALREADY RAISED IT A FEW PIPS LAST SUNDAY. THEY SAY THIS IS “IN LIGHT OF STEPS TAKEN BY THE CBI.”

SO CLEARLY THE CBI HAS BEEN IN THE PROCESS OF DOING THIS AT LEAST SINCE LAST SUNDAY.

THE IMF HERE BASICALLY TOLD THEM TO “BOOST GROWTH AND JOB CREATION IN THE PRIVATE SECTOR AND DON’T USE THE FOREIGN RESERVES (USD) TO DO IT. IN OTHER WORDS…..
“HURRY UP AND RV SLOW POKES!”

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

Emailed to Recaps:

We all Need a Tree!

I hired a plumber to help me restore an old farmhouse, and after he had Just finished 
a rough first day on the job: a flat tire made him lose an Hour of work, his 
electric drill quit and his ancient one ton truck Refused to start.

While I drove him home, he sat in stony silence. On arriving, he invited Me 
in to meet his family.

As we walked toward the front door, he paused Briefly at a small tree, touching the tips of the branches with both Hands.

When opening the door he underwent an amazing transformation.. His face Was 
wreathed in smiles and he hugged his two small children and gave his Wife a 
kiss.

Afterward he walked me to the car. We passed the tree and my curiosity Got the better of me. I asked 
him about what I had seen him do Earlier.

‘Oh, that’s my trouble tree,’ he replied ‘I know I can’t help having Troubles on the job, but one 
thing’s for sure, those troubles don’t Belong in the house with my wife and 
the children..

So I just hang them Up on the tree every night when I come  home, and ask God to take care of Them. Then in the morning I pick them up again.’ ‘Funny thing is,’ he Smiled,’ when I come out in the morning to pick ’em up, there aren’t Nearly as many as I remember hanging up the night  before.’

THIS ONE IS WORTH SENDING ON.

Life may not be the party we hoped for, but while we are here we might as well dance. We all Need a Tree!

Posted July 27, 2013
[Follow-up – where]Description Bank Citibank Global, which opened the end of June past Moktaba him in Baghdad, “that Iraq is the biggest goal” in the banking activities in the future.
Said مايانك Malik, Director of Citibank in Jordan and Iraq, in a press statement that “we look to Iraq as the next biggest target and we see in Iraq, preparing for the advancement of giant. ”
Malik added, “We consider ourselves among the top candidates to work in Iraq, and we want to have the top priority. ”
And that “the bank will initially serve existing customers, who are working within the energy companies operating in the fields of oil-rich,” adding, “but in the long term, the bank [multinational] will seek to move into the commercial banking business and services, despite the fact that no timetable has been put in place so far. ”
The Director of the Office of the Bank of Citibank Global said that “the bank holds high hopes for Iraq, which bank economists predict that Iraq has a population of 50 million people, the economy, worth about two thousand billion dollars by 2050. ”
The head of the company [Citibank] Dance Avelanery had met Prime Minister Nuri al-Maliki in the office of the latter in 24 of the last June after the opening of a branch of the company said, “We are determined to be partners in the development of Iraq and سنساعده in the promotion of its economy, stressing that there are companies many global unwilling to invest in Iraq, and we will be supportive of her, and pointed out that the opening of the company’s branch in Baghdad would be a prelude to open a branch shall be managed by the banking activities in Iraq. ”
It is noted that with the tens of millions of potential customers who have a few of them only bank accounts, Pat Iraq represents an ambitious target of banking institutions the world, especially that the Iraqis are looking forward now to banking services is greater than those available to them is that the old laws of the banking sector and the economic, and the majority banks controlled by the government, and weak infrastructure for this sector, in addition to a huge number of obstacles Other political Kalazmat, and the security situation, make the banking activity in the country is not guaranteed results for businessmen and foreign banks. ended.
alliraqnews. com

07/27/2013 12:00 AM
Head of Mission of the International Monetary Fund (morning):
BAGHDAD – Hussein ثغب Tamimi
stressed the IMF on the need to adopt the process of economic reform and broad, as Usher strengths and imbalances in the joints Economic came in a report the Fund’s Article IV of 2013 on Iraq, which is the assessment annual appreciation on the part of the International Monetary Fund (IMF) to the economies of the Member States in the Fund, and issue a report accompanied by my assessment of the latest economic developments in those countries, and the expectations of experts Fund for growth in the overall economy as a whole three to five years following the date of issuance of the report. The section on Iraq, the report is based on the consultative meetings held with the Iraqi side, and the Iraqi private sector and members of the Iraqi civil society, in March of 2013.
economic reform, structural and widespread
head of the IMF mission to Iraq Carlo Sdrallweg in an interview ( morning): Iraq needs to formulate structural economic reform agenda and widespread, and even more importantly, it needs to follow up the implementation of that agenda with all its contents. There is still a lot of work to be done in the area of public finance, not only in improving the management of the budget, but more important than that to be in the area of improving growth and poverty reduction as well, and pointed to the importance of raising the quality of spending, and this can be achieved, In the first place, by eliminating waste, and direct expenses to the poor even more. Indicating the need for Iraq to focus on increasing the level of provision of electric power, and the restructuring of state-owned companies owned by the state, and streamline regulations to help ensure its focus on helping the private sector rather than the imposition of restrictions upon, and pointed out that Iraq needs as well as to revive agriculture, including reform of the system PDS has contributed to the decline in domestic agricultural production through large food imports. We recognize and are aware that all these measures are difficult to perform, and will require time. Therefore, the need for requiring the adoption of a realistic approach and settled to achieve all that.
in question (morning) on exposure of the private banking sector in recent times to attack by the pretext of money laundering and illegal transfer of funds. Do you see that building?
said in answering We are not aware of any specific cases of money laundering particular, but we recommend that the Central Bank of Iraq to redouble its efforts in promoting a stable financial sector and safe. In this regard, the commitment of the Iraqi Central Bank Governor on behalf of, and to strengthen the work of the Banking Control encourages us to push for the implementation of this recommendation. In our view, a lot of work still to be done to improve control over the banks, and examples, supplying banking supervision cadres better, and training courses better, and outsourcing joint (with other government agencies) “co-sourcing” of the functions of the Department of Control banks to the Central Bank of Iraq, to
improve the framework for the
addition to expand the reach of the regulatory business to include government-owned banks to the state. Moreover, the improvement of the framework for combating money laundering and the financing of terrorism, in line with the recommendations of the Financial Action Task Force for the Middle East and North Africa (MENA FATF), along with the continuous efforts in strengthening errands control carried out by the Central Bank of Iraq on combating money laundering and the financing of terrorism, it would be that would help in addressing the concerns of money laundering and financing of terrorism and processed. It must also develop financial infrastructure, such as reporting on the historical background of credits and recordings collateral (assets guarantor), and ways of banking technology, in order to support the performance of the banking sector.
and the Iraqi dinar exchange rate and on the role of the Iraqi Central Bank in the currency auctions. In your opinion, what should the central do about it?
Sdrallweg clarified the matter, saying that we need to believe that the Central Bank releases foreign exchange system at the earliest opportunity where this editorial is possible technically. We expect that the relaxation of regulations of foreign exchange would provide the funds needed by the Iraqi citizens in U. S. dollars, and to help the Iraqi economy, and reduces the difference in question, which fell fell sharply in fact, after the measures newly taken by the Central Bank of Iraq, which simplified market transactions, and opened it in front of customers. This means, the minimum, the opportunity to get any Iraqi citizen on foreign exchange, if it wishes to make any transaction ongoing international legitimate, for example, for the purposes of importing goods, as well as for interest payments, or transfers for expenses family.
power bank Central
and he said we understand there همين Co يبعثان the concern on the liberalization of the foreign exchange system. First, some have argued saying that the opening of the auction probably works on the Iraqi depletion of reserves of foreign exchange to levels dangerously low, thereby undermining the value of the Iraqi dinar. It also does not believe that this decline in the value of the dinar will happen on the ground because the Central Bank of Iraq in a strong position with him can maintain the value of the dinar, and because foreign exchange inflows from oil revenues are too high. The CBI has the amount and plenty of reserves amounting to the level of more than 70 billion U. S. dollars, a large sum to a degree sufficient to cover more than the value of nine months of imports, or to cover more than 104 percent of the money before the broad sense; sense that it is equal to all of Iraqi dinars in circulation in addition to deposits.
misuse of foreign exchange
and The second Alhmin is the ability of the central bank to prevent the misuse of foreign exchange in illegal activities. We do not believe that the currency auctions are the right tool to prevent misuse mentioned. As is the case at the level of international best practices, the IMF recommends that address the concerns of money laundering through the due diligence (or conduct of the study precluding doubt) to customers, and transaction reporting doubtful the Investigation Unit (intelligence) financial, rather than restrict free access to the auction. Accordingly, the liberalization of auction foreign exchange needs, in parallel with the editing, to be accompanied by a strengthening of errands regulatory carried out by the CBI and other government agencies on combating money laundering and terrorist financing.
Asked about the possibility of moving to a free economy in line with the Constitution Iraq?
drew Sdrallweg that Iraq did not adopt clear economic policy (economic model and clear) and live in a state troubled between a planned economy to him (router) and the free market economy.
and pointed out that the model of the current economic growth, which play a government the dominant role in the Iraqi economy, taking a its limits. In order for any free economy to develop on a sustainable basis, the government needs to implement a combination of macroeconomic policies, good governance, and to enhance the delivery of services, and the rebuilding of infrastructure, particularly in the electric power sector, in addition to strengthening the business environment, these measures will support the growth of the private sector, but last but not least, it is imperative for the government to know the limits of the maximum capacity, in order to leave space for the private sector to flourish.
Asked about his vision for an increase in oil production and exports? Do you agree with the official forecast for this increase?
said, assuming that the investment plans ambitious for the Iraqi government will be realized on the ground, we expect to increase oil production gradually, about 400 – 500 thousand barrels per day in each year, to 5. 7 million barrels per day by the year 2018 . However, this outlook depends on the smooth implementation of plans to develop oil fields, and the existence of a relatively stable security situation. Any delay in the development of oil fields, or in the expansion of energy infrastructure, export, or worsening of the security situation worse, will lead to the growth rate of the lowest in the oil sector.
increased to have to say that our expectations lower to a large extent the expectations of the government, which believes that the production of oil will rise to 9 million barrels per day by the year 2018. We tend to be more conservative; because we are less optimistic about the pace of expansion in the infrastructure necessary for export – which may be a drawback most important in the face of export, as we are more for the sake of cautious about progress on the project water injection, and increase the number of buoys “SPMs” In addition to the high level of domestic consumption.
additional investments
he stressed mentioned in our three key areas of reform in the energy sector. First Iraq, could benefit from the oil and gas law, which shows on a permanent basis, the roles of government, the private sector and the provinces and territories in the oil sector. But we know that the draft law of oil and gas was still under consideration since a long time, which deals with a lot of sensitive policy issues; therefore compatibility between all parties involved in the negotiations on the draft law in question is important to reach a lasting good. Secondly, the situation requires additional investments in electric power production, and the restructuring of electric power producers, and the imposition of tariffs electric enough. These measures are required in the energy sector to provide a reliable source in the supply of electric power to homes, businesses and industries. All of these efforts combined will help in the development of non-oil sector, and ultimately lead to more jobs.
electric energy subsidies
The third axis is the necessity of removing the distorting fuel subsidies provided to producers. In 2011 alone, we estimate the total volume of fuel subsidies of $ (9. 8) billion U. S. dollars, or the equivalent of 5. 4 percent of GDP. This is a very heavy cost for a country like Iraq has big needs at the social level and the level of infrastructure. The electrical energy subsidies create distortions detrimental to the economy, the wheel could discourage investment in the energy sector and in industries that require more intensive workforce, as well as those subsidies create incentives for waste and smuggling. Therefore, it has encouraged us in our report mentioned the Iraqi authorities to reduce those subsidies, and use part of the savings to increase targeted assistance to those who most need it.
and low income of most Iraqi families, what and mechanisms of action needed to develop household economy?
Allweg he dominated both production oil and the public sector on the economy of Iraq. The government is directing the path of the income generated from oil exports to hire / Run Iraqis in the public sector, and to provide government subsidies. In our view, the model of economic growth this take has its limits. The oil sector and the government can not create enough employment opportunities for Iraqi citizens who accelerating population growth. In addition, it has resulted in decades of sanctions and conflict for a loss in human capital and the destruction of infrastructure, which prevents the government from providing basic services to citizens, including social safety nets that work. reduce widespread poverty and unemployment increased, saying, We believe that the authorities Iraq should focus on the creation of an enabling environment for private sector development. We’ve talked a lot about sound economic policies in the areas of public finance and monetary areas. In order to develop growth, and reduce poverty and unemployment, it is incumbent on the Iraqi economy to be strong structurally. This reality not the case in Iraq at the present time. There is a lot of things that still need to work on it, and we Anttriq in our report only to the key priorities for structural reform, including. credits granted and between in the forefront can say that the existence of financial sector efficient and large to a sufficient degree acquires paramount importance for economic growth, and, according to what experience shows in many countries over a long period of time. In Iraq, the financial sector is still weak, to a large extent but just to give an idea of this weakness, the percentage of “Total credit / loans to the economy,” amounting to about 29 percent of GDP, compared with 55 percent in the countries of the region. However, this figure also includes a number great deal of credit granted by the state-owned banks State-owned government companies owned by the state, so if we look at the total credit granted to the private sector, they represent only 15 percent of GDP, and this percentage is very low.
alsabaah. iq

Shares in Irish-based exploret Petrel Resources jumped more than 37 percent on Friday, following the announcement of a possible deal in Iraq.

The Board said that negotiations on “a potential Iraqi investment are at an advanced stage whereby a private company with extensive hydrocarbon interests in Iraq would inject an asset into Petrel in return for a minority shareholding in Petrel as well as board representation.”

LINK