The IQD Team Connection with LJ from LJ’s Next Step Team
Straight Talkin Mike, LJ, Diana & Debbie
Investigate, Question & Deliver
Tuesday, July 16,  2013 
Replay of Conference Call 
         
Conference Call Replay – July 16, 2013
Download/Playback
or
760-569-7699   Pin 769478#

Great Night of News with Straight Talkin’ Mike & L.J. of L.J.’s Next Step Team

            “THE IQD Team Connection”           

Please listen to the replay in its entirety for all the
latest CBI, Economy and Government News from Iraq  

The I.Q.D. Team Connection News Coverage
for Tuesday, July 16, 2013

CBI / ECONOMY

Read More Link on Right

Parliamentary advocates economic speedy delete zeros from currency

Financial: wait for the claim of Central Bank of Iraq to discuss with us the subject delete zeros

Translation By Abby! :: News Video Including Sinan Shabibi :: June 30, 2013 :: Thanks Going Global & Abby

==========================================
GOVERNMENT… Will Be Discussed on Our Call and Will Be Found Available at L.J.’s Next Step Team Skype News Chat Room. Click Here on How to Join LJ’s

News Article Links

What a great night of news, analysis and discussion – Listen to the call for all the rest of the news shared

Conference Call Replay –  July 16, 2013
Download/Playback
or
760-569-7699   Pin 769478#

As Always…. Discussion and Analysis of the Latest Iraq, Dinar & RV News….Pre & Post RV Information…Q & A

Every Tues & Thurs 8PM EST
760-569-7676  769478# or 712222#

I4U:

[constantlyabiding] Ok guys.. I was disappointed that Jack Lew did not make any specific comments about our investment. Or did he? After some digging here are some puzzle pieces…I have my theories.. so here we go.

constantlyabiding] Last year CNBC posted an article about Dodd Frank.. some key points from the article;

 [constantlyabiding] What does Dodd-Frank do to regulate banks? One of the main goals of the Dodd-Frank act is to have banks subjected to a number of regulations along with the possibility of being broken up if any of them are determined to be “too big to fail.”

 [constantlyabiding] To do that, the act created the Financial Stability Oversight Council (FSOC). It looks out for risks that affect the entire financial industry.

 [constantlyabiding] The Council is chaired by the Treasury Secretary, and has nine members including the Federal Reserve, the Securities and Exchange Commission and the new Consumer Financial Protection Bureau or CFPA. It also oversees non-bank financial firms like hedge funds
….
Read More Link on Right

[constantlyabiding] If any of the banks gets too big in the council’s determination, they could be be regulated by the Federal Reserve, which can ask a bank to increase its reserve requirement—the money it has ‘saved up’ and is not using for lending or business costs.

 [constantlyabiding] Under Dodd-Frank, banks are also required to have plans for a quick and orderly shutdown in the event that the bank becomes insolvent—or runs out of money.

[constantlyabiding] He also reference the Volker Rule in his comments today…..

[constantlyabiding] The Volcker Rule is part of Dodd-Frank and prohibits banks from owning, investing, or sponsoring hedge funds, private equity funds, or any proprietary trading operations for their own profit.

[Iank1978] End to big to fail, end the fed

 [constantlyabiding] To help banks figure out which funds are for their profits and which funds are for customers, the Fed has given banks two years to divest their own funds in get in line with the rule before it’s enforced.

[constantlyabiding] However banks can keep any funds that are less than three percent of revenue.

 [constantlyabiding] The Volcker Rule does allow some trading when it’s necessary for the bank to run its business. For example, banks can engage in currency trading to offset their own holdings in a foreign currency.

[constantlyabiding] But the Volcker rule is not in place yet, and some of its rules are still being decided. It is scheduled to go into effect in July 2012. However, regulators say they might not have all the rules in place by then.

 [constantlyabiding] Ok.. so at the time this article came out not all the provisions were in place yet..

 [constantlyabiding] fast forward to 2013….

[abbababy] constantlyabiding Sounds like Jack Lew was talking Basil III without out right stating it. Unless you are involved in dinar some won’t know what he is talking about. But we do. TY for the input. CNBC cut him off & I did not get to hear the entire speech. Guess I was on the wrong station.

 [constantlyabiding] abbababy Good point..

[constantlyabiding] Bloomburgs comments on his remarks this morning…

[constantlyabiding] From Bloomburg: U.S. Treasury Secretary Jacob J. Lew said he is “stepping on the accelerator” to implement the Dodd-Frank Act and warned lawmakers against trying to change the financial rules overhaul.

constantlyabiding] “Members of Congress who want to alter financial reform before it is fully in place should carefully consider implementation efforts that are approaching completion,” Lew said in remarks prepared for the CNBC Institutional Investor Delivering Alpha Conference in New York today.

[SALTYDOG]  Here is the link to his speech    http://video.cnbc.com/gallery/?play=1&video=3000183620

[constantlyabiding] Lew also warned Congress against depriving financial regulators of funds they need “to meet the significant new responsibilities with which we have charged them.” The cost of good regulation “is tiny compared to the enormous cost of failure,” he said

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

KTFA:

DELTA » July 17th, 2013, 5:04 am  • 

URGENT FROM IRAQIA TV:

CBI RECEIVED A LETTER FROM THE WORLD BANK COMMENDS THE REPORT ISSUED BY THE

INTERNATIONAL AUDITING COMPANY.

FAMILY: AUDITING IS DONE .. THE WORLD BANK IS HAPPY FROM THE REPORT

NOW SHOW ME THE TRUE RATE CBI.

DELTA

17/07/2013 13:58  World Bank praises the draft reform of the banking sector and financial control of Iraq’s banks.

Baghdad (news) .. Central Bank of Iraq, the World Bank praised the draft reform of the banking sector in Iraq. , the bank said in a statement received by the Agency (news) copy of it: that the bank received a letter from the World Bank praises the report issued by the auditing firm of international financial statements final draft reform Iraq’s banking sector. added: that the report was devoid of any observations or reservations and this report reflects the good efforts made ​​by the management of the Central Bank of Iraq in this area. / End / b. PVC /

http://www.ikhnews.com/index.php?page=article&id=92753

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

Nesara BlogSpot Dinar Update: John MacHaffie    

http://www.nesaranews.blogspot.com/

RV/PP/REPUBLIC INTEL

Rumor – HIGH ANTICIPATION for public exchanging today.

Rumor – Jack Leu may be making an announcement about the RV this morning.

Rumor – Exchanges ARE ongoing in Reno

Confirmed – The International RV appeared on the Iraq Stock Exchange for 2 hrs. Trades were international in nature.

Confirmed – Tuesday ‘suppose’ to be the date for the RV/EXCHANGE. Private exchanges perhaps but no public exchanging yet

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

MIG:

BOBGETZ6] It is now time to say a few things. As we get closer to this event ending, there is a lot of confusion and a lot of deception. I would suggest that you use the old adage, “FOLLOW THE MONEY.”

[BOBGETZ6] There are people out there that will try and are trying to get dinarians to pull away from where they originally planned to cash in. Let me ask you this, if someone asks you to put money up front, or to pay a fee for doing a currency exchange, would you really trust that? Would you think that just maybe, they are being backed by a financial group, and are preying on people’s naivety?

[BOBGETZ6] People have come out of the woodwork it seems, to try and disrupt the situation. Much of the information now flowing amongst the sites, is just wrong and in my opinion, just short of criminal. Some of the guru types, in my opinion, are being paid and backed by some dinar sales organizations, to excite the crowd with anticipated imminent revaluation. More sales equals more revenue.

 [BOBGETZ6] Another situation comes to mind in that a good friend of mine was quoted as saying two one hundred million dinar holders had just cashed out in Reno. First of all, this person would never have said that, and secondly, if someone had cashed out, they would have been under a non-disclosure agreement.

[BOBGETZ6] It is your money, you decide, but I felt compelled to inform those who might get caught up in the drama, or have not been around long enough to comprehend.

[harleyrider] BOBGETZ6 great points.

 [BOBGETZ6] And above all else, I could not post what I really think.

[novemberwhiskey] BOBGETZ6 the exchange procedure will be very simple… banks have wealth advisors who are there to guide customers in the right direction…if you do not like the people who are in place at a patpicular bank..go to another one..

[BOBGETZ6] As this gets closer, it is about the money and an attempt to defraud is obvious.

RindsGuy] clubber3 I dunno about that. If all these people are showing up, that could be a sign that something might be ready to pop. Otherwise I dont’ think they would be wasting their time unless they had a quick exit strategy.

 [BOBGETZ6] RindsGuy True, and there are people already doing Federal time for corruption in this and I can think of a few more that might be in line for the same.

clubber3] RindsGuy on the other hand hte Banks are starting to show up over there, and they wouldn’t be there if there wasn’t money to be made

 [Imperium] I still can’t see that Iraq has any control over this revaluation… other than a bit part player.

[Imperium] ‘Political theatre’ at its finest.

[BOBGETZ6] I hope that what I wrote makes Recaps as people need to be made aware. But I am controversial and I don’t always get posted.

[BOBGETZ6] RindsGuy Does the vision of buzzards, like the contractors come to mind?

[BOBGETZ6] There is ABSOLUTELY no reason to pay someone to be able to do a CE>


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

TNT:

sierramisty] JACK LEWS STATEMENTS!       http://blogs.marketwatch.com/thetell/2013/07/17/live-blog-jack-lew-john-paulson-headline-delivering-alpha-conference/?mod=MW_home_latest_news

I4U:

[constantlyabiding] Ok guys.. I was disappointed that Jack Lew did not make any specific comments about our investment. Or did he? After some digging here are some puzzle pieces…I have my theories.. so here we go.

constantlyabiding] Last year CNBC posted an article about Dodd Frank.. some key points from the article;

 [constantlyabiding] What does Dodd-Frank do to regulate banks? One of the main goals of the Dodd-Frank act is to have banks subjected to a number of regulations along with the possibility of being broken up if any of them are determined to be “too big to fail.”

 [constantlyabiding] To do that, the act created the Financial Stability Oversight Council (FSOC). It looks out for risks that affect the entire financial industry.

 [constantlyabiding] The Council is chaired by the Treasury Secretary, and has nine members including the Federal Reserve, the Securities and Exchange Commission and the new Consumer Financial Protection Bureau or CFPA. It also oversees non-bank financial firms like hedge funds
….
Read More Link on Right

[constantlyabiding] If any of the banks gets too big in the council’s determination, they could be be regulated by the Federal Reserve, which can ask a bank to increase its reserve requirement—the money it has ‘saved up’ and is not using for lending or business costs.

 [constantlyabiding] Under Dodd-Frank, banks are also required to have plans for a quick and orderly shutdown in the event that the bank becomes insolvent—or runs out of money.

[constantlyabiding] He also reference the Volker Rule in his comments today…..

[constantlyabiding] The Volcker Rule is part of Dodd-Frank and prohibits banks from owning, investing, or sponsoring hedge funds, private equity funds, or any proprietary trading operations for their own profit.

[Iank1978] End to big to fail, end the fed

 [constantlyabiding] To help banks figure out which funds are for their profits and which funds are for customers, the Fed has given banks two years to divest their own funds in get in line with the rule before it’s enforced.

[constantlyabiding] However banks can keep any funds that are less than three percent of revenue.

 [constantlyabiding] The Volcker Rule does allow some trading when it’s necessary for the bank to run its business. For example, banks can engage in currency trading to offset their own holdings in a foreign currency.

[constantlyabiding] But the Volcker rule is not in place yet, and some of its rules are still being decided. It is scheduled to go into effect in July 2012. However, regulators say they might not have all the rules in place by then.

 [constantlyabiding] Ok.. so at the time this article came out not all the provisions were in place yet..

 [constantlyabiding] fast forward to 2013….

[abbababy] constantlyabiding Sounds like Jack Lew was talking Basil III without out right stating it. Unless you are involved in dinar some won’t know what he is talking about. But we do. TY for the input. CNBC cut him off & I did not get to hear the entire speech. Guess I was on the wrong station.

 [constantlyabiding] abbababy Good point..

[constantlyabiding] Bloomburgs comments on his remarks this morning…

[constantlyabiding] From Bloomburg: U.S. Treasury Secretary Jacob J. Lew said he is “stepping on the accelerator” to implement the Dodd-Frank Act and warned lawmakers against trying to change the financial rules overhaul.

constantlyabiding] “Members of Congress who want to alter financial reform before it is fully in place should carefully consider implementation efforts that are approaching completion,” Lew said in remarks prepared for the CNBC Institutional Investor Delivering Alpha Conference in New York today.

[SALTYDOG]  Here is the link to his speech    http://video.cnbc.com/gallery/?play=1&video=3000183620

[constantlyabiding] Lew also warned Congress against depriving financial regulators of funds they need “to meet the significant new responsibilities with which we have charged them.” The cost of good regulation “is tiny compared to the enormous cost of failure,” he said

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

KTFA:

DELTA » July 17th, 2013, 5:04 am  • 

URGENT FROM IRAQIA TV:

CBI RECEIVED A LETTER FROM THE WORLD BANK COMMENDS THE REPORT ISSUED BY THE

INTERNATIONAL AUDITING COMPANY.

FAMILY: AUDITING IS DONE .. THE WORLD BANK IS HAPPY FROM THE REPORT

NOW SHOW ME THE TRUE RATE CBI.

DELTA

17/07/2013 13:58  World Bank praises the draft reform of the banking sector and financial control of Iraq’s banks.

Baghdad (news) .. Central Bank of Iraq, the World Bank praised the draft reform of the banking sector in Iraq. , the bank said in a statement received by the Agency (news) copy of it: that the bank received a letter from the World Bank praises the report issued by the auditing firm of international financial statements final draft reform Iraq’s banking sector. added: that the report was devoid of any observations or reservations and this report reflects the good efforts made ​​by the management of the Central Bank of Iraq in this area. / End / b. PVC /

http://www.ikhnews.com/index.php?page=article&id=92753

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

Nesara BlogSpot Dinar Update: John MacHaffie    

http://www.nesaranews.blogspot.com/

RV/PP/REPUBLIC INTEL

Rumor – HIGH ANTICIPATION for public exchanging today.

Rumor – Jack Leu may be making an announcement about the RV this morning.

Rumor – Exchanges ARE ongoing in Reno

Confirmed – The International RV appeared on the Iraq Stock Exchange for 2 hrs. Trades were international in nature.

Confirmed – Tuesday ‘suppose’ to be the date for the RV/EXCHANGE. Private exchanges perhaps but no public exchanging yet

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

MIG:

BOBGETZ6] It is now time to say a few things. As we get closer to this event ending, there is a lot of confusion and a lot of deception. I would suggest that you use the old adage, “FOLLOW THE MONEY.”

[BOBGETZ6] There are people out there that will try and are trying to get dinarians to pull away from where they originally planned to cash in. Let me ask you this, if someone asks you to put money up front, or to pay a fee for doing a currency exchange, would you really trust that? Would you think that just maybe, they are being backed by a financial group, and are preying on people’s naivety?

[BOBGETZ6] People have come out of the woodwork it seems, to try and disrupt the situation. Much of the information now flowing amongst the sites, is just wrong and in my opinion, just short of criminal. Some of the guru types, in my opinion, are being paid and backed by some dinar sales organizations, to excite the crowd with anticipated imminent revaluation. More sales equals more revenue.

 [BOBGETZ6] Another situation comes to mind in that a good friend of mine was quoted as saying two one hundred million dinar holders had just cashed out in Reno. First of all, this person would never have said that, and secondly, if someone had cashed out, they would have been under a non-disclosure agreement.

[BOBGETZ6] It is your money, you decide, but I felt compelled to inform those who might get caught up in the drama, or have not been around long enough to comprehend.

[harleyrider] BOBGETZ6 great points.

 [BOBGETZ6] And above all else, I could not post what I really think.

[novemberwhiskey] BOBGETZ6 the exchange procedure will be very simple… banks have wealth advisors who are there to guide customers in the right direction…if you do not like the people who are in place at a patpicular bank..go to another one..

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

TNT:

sierramisty] JACK LEWS STATEMENTS!       http://blogs.marketwatch.com/thetell/2013/07/17/live-blog-jack-lew-john-paulson-headline-delivering-alpha-conference/?mod=MW_home_latest_news

17/07/2013 13:58

World Bank praises the draft reform of the banking sector and financial control of Iraq’s banks


Baghdad / Mesalla: the Central Bank of Iraq, Wednesday, the World Bank praise a draft reform of the banking sector in Iraq and the promotion and development of banking supervision.

The bank said in a statement obtained by "obelisk", a copy of "The Bank received a letter from the World Bank praises the report issued by the international auditing firm for the financial statements final draft reform of the banking sector in Iraq and promote the development of banking supervision."

The statement added that "the report of the World Bank came devoid of any observations or reservations This report reflects the good efforts of the Department of Central Bank of Iraq for several reform project of the banking sector in Iraq and the promotion and development of banking supervision and coordination and cooperation with the World Bank and down to the device Iraqi bank Advanced."


http://translate.googleusercontent.c…BysuYST3mdTwXA




World Bank praises the draft reform of the banking sector in Iraq
17-07-2013 01:16 PM


Baghdad (news) ..

Central Bank of Iraq, the World Bank praised the draft reform of the banking sector in Iraq.

, the bank said in a statement received by the Agency (news) copy of it: that the bank received a letter from the World Bank praises the report issued by the auditing firm of international financial statements final draft reform Iraq’s banking sector.

added: that the report was devoid of any observations or reservations and this report reflects the good efforts made ​​by the management of the Central Bank of Iraq in this area

http://www.ikhnews.com/index.php?page=article&id=92753

Soaring economic growth is rejuvenating the banking in Iraq

16 Jul 2013

Recently a report illustrated that the banking sector in Iraq is all set for a significant leap in earning and asset growth in the coming years, driven by a strong macro environment, with increased credit penetration and improvised security conditions.

National Monetary Fund or IMF has recently declared that the country is forging towards a 9 percent economic growth in coming year and 85 percent growth at the next year after this year.

It has been anticipated in IMF’s report that Iraq will continue to do well in coming years with its economic growth, as the government has successfully reformed its economic structure and thus foreign investors are finding it easier to invest in this country – foreseeing further and higher level of profit.

In a report, Sansar Capital, a renowned company in the finance sector has opined that rising credit penetration is also expected to further fuel banking sector growth. The report cites a World Bank study which shows that Iraqi domestic credit to GDP stood at a mere 9 per cent of GDP at the end of 2011 as compared to a 55 per cent of GDP average for the Mena region.

Between the time lengths from 2009 to 2011, domestic credit to GDP has taken a leap of 89 percent.

Moreover, according to Central Bank of Iraq data, cash credit, such as loans and overdraft facilities, have grown at an impressive CAGR of 50 per cent from 2006-2011.

The detailed report analyses the Iraqi private banking sector through the perspective of five of the country’s largest private banks by deposit.

The report reveals that buoyed by strong economic growth and rising credit penetration, these five banks saw their aggregate net income grow by 207 per cent between 2010 and 2012.

Dilution driven by increases in equity capital resulted in earnings-per-share growth will go down but that still will have impressive impact with aggregate EPS growth of 111 per cent from 2010-2012.

The report explores an odd idiosyncrasy in the Iraqi markets where banks with highest Return-on-Equity and growth profiles trade at the lowest valuation multiples.

The company, Sansar Capital believes that this example of market inefficiency needs to be paid due attention.

The statements that have been received from the Iraqi banks have been also verified and the report also demonstrates that adjusted underlying profitability and Return-on-Equity (ROE) for the banks significantly exceeds reported numbers with some banks approaching 60% underlying ROEs.

According to the report, the growth in Iraq’s banking sector earnings and GDP – which IEA forecasts will grow 151 per cent between 2011 and 2020 driven by the country’s increasing oil revenues, go hand-in-hand with the improving security situation in the country.

As violence declined by over 80 per cent between 2006 and 2012, Iraqis in many parts of the country enjoyed relative calm and stability.

Despite of the impressive growth, there are some rays of concerns still remain for the Iraqi private banks.

There are a lot of challenges that have to be overcome precisely if the private sector banking has to sustain in Iraq with greater chances of profit making.

Accessibility is among the biggest challenges facing the country’s banking industry. Access to bank branches or ATM machines remains highly limited to the general Iraqi population.

There are approximately 900 bank branches covering a population of 33 million Iraqis equating to just one branch serving 36,000 individuals.

The other reason is the trust factor. People of Iraq find it more trustworthy to invest in the state-owned banks rather than putting their money in the hassles of private banking.

However, this problem seems to be temporary as foreign banks are expected to do well in Iraq, clinching the trusts of the common Iraqi people by providing their seamless services.

In the report, transparency is another factor that has been questioned. In the example of North Bank, the report highlights how audit and financial concerns raised by the accountants in the Arabic reports were missing from the English translated reports provided by the bank.

“Iraq’s banking sector, though certainly on the growth path, is not without its share of challenges,” said Sanjay Motwani, president of Sansar Capital.

He added, “However, what is important to note is that all the challenges and hurdles can be overcome, especially with the combined efforts of the government and private sector.

In particular, we believe that the private sector can help improve accessibility to branch networks and services while the government can help level the playing field between the state-owned and private sector banks. Of course, gaining the trust of the population would require efforts from both sides.”

From trade and financial related activities, Iraqi banks generate a good portion of their overall revenues.

For the year 2011, commissions driven by trade-financing related activities (wire transfers, letters of credit, FX spreads) accounted for a range of 28 per cent to 83 per cent of net revenues for the four largest ‘traditional’ banks.

The second largest contributor to the banking revenue is the traditional method of lending money and gaining capital through the interests over the lending amounts. From 13 percent to 49 percent revenues are generated in this method.

The Sansar Capital report concludes that while the mix of an improving macro environment and security situation offer attractive investment ingredients in Iraq, many challenges remain for those interested in participating through public markets.

http://www.iraqdirectory.com/en/2013/07/16/24531/soaring-economic-growth-is-rejuvenating-the-banking-in-iraq.aspx

– Gold futures traded modestly higher in the early part of Wednesday’s Asian session as traders await congressional testimony later Wednesday from Federal Reserve Chairman Ben Bernanke.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rose 0. 17% to USD1,292. 55 per troy ounce in Asian trading Wednesday after settling up 0. 48% at USD1289. 65 a troy ounce during Tuesday’s U. S. session.
Gold futures were likely to find support at USD1,237. 05 a troy ounce, the low from July 8 and near-term resistance at USD1,301. 75, the high from June 21.
Gold got a lift thanks to a pair of U. S. data points. In U. S. economic news out Tuesday, the National Association of Home Builders/Wells Fargo housing-market index rose to 57 in July from 51 in June. The July reading is the highest since January 2006.
The Labor Department said U. S. consumer price inflation rose 0. 5% in June following a 0. 1% rise in May. Economists expected a 0. 3% June increase. Core CPI increased at annualized rate of 1. 6% last month, in line with forecasts and slowing from 1. 7% in May.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The Fed is aiming to keep inflation around 2% or less. Industrial production rose 0. 3% in June, the biggest increase in four months.
Traders will now turn their attention to Wednesday’s testimony from Bernanke after the Fed chief ignited a rally in gold last week when he said tapering of the central bank’s USD85 billion a month quantitative easing program is not as imminent as some investors previously expected.
Despite Bernanke’s supportive comments and the ensuing positive price action in gold, gold futures have traded below their 200-day moving average for five straight months and investors continue to pull cash from gold exchange traded products.
Elsewhere, Comex silver for September delivery inched up 0. 09% to USD19. 953 while copper for September delivery fell 0. 09% to USD3. 177 per – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

*Najafi looking with the head of the central bank control mechanisms on the exchange rate and the development of the Bank’s work…