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

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

The order in which this should go down and why:

 Passage of the stalled laws as they call them in order of importance:

Oil & Gas Law, also known as the HCL (hydrocarbon law)

The most important law Iraq has, it mostly includes the provincial percentages that each province gets paid per year. It includes how contractors are paid and the citizen’s entitlements of 25% of each year’s surpluses is a part of this.

Also remember that this is the month that these entitlements are to be distributed and this can’t take place until it is signed sealed and delivered IMO. The currency reform numbers will be a big part of this and should be included and accounted for within the framework of this law as it is their biggest asset.

Read More Link On Right

  Accountability & Justice Law and the Amnesty Law

The two demands of the demonstrators and what will get them off the streets. You can’t introduce to the world your brand new currency when you have demonstrations and all the sectarian blood shed that is now a daily part of these. BTW, the HCL will help this immensely.

Federal Court Act & Baath Party Law or Baathification Law as it is also known

The Federal Court Act was passed by parliament earlier this year, which bans the head of the Federal Supreme Court from also being the chief justice of the Judicial Council. This new law made the head of the Court of Cassation (which ratifies the rulings of Iraqi judges and has final say in such matters) the new chief justice.

The Federal Supreme Court rules on issues related to federalism and constitutionality.

Remember that Maliki had one of these Judges in his back pocket, well that Judge was Chief Justice Midhat al-Mahmoud, the chief justice that lost his position because of this new law and was removed to his old job, head of the Federal Supreme Court. This took away Maliki’s ability to get arrest warrants on anyone that stood to defy him.

This dude Mahmoud is bad news folks and they say he was also removed under this new law because of his involvement in the Baath Party under Saddam wherein he was directly involved when 10,000 Iraqi’s were killed and other anti-humanitarian acts.

Back in 2004 when Paul Bremer was the administrator of the Coalition Provisional Authority of Iraq, he was responsible for the law that banned the Iraq Baath Party members of being able to hold jobs with the government of Iraq. Now this ties right into this next Law that needs passed.

Accountability and Justice

Now here is another interesting snippet of news, the National Commission for Accountability and Justice overlooks the implementation of the de-Baathification in Iraq. Can you see how all this is tied in together and how it takes power directly away from Maliki?

This is why it is so important and why I believe Barzani

now feels that Maliki will comply with all that is needed, because all these laws are part of completing the overall framework of their agreement. Maliki has no choice, his powers have been reduced and Barzani and the speaker of the House of Parliament Najafi know this and that is why they are all getting along now.

And this is another reason we have read that they wanted to pass them as a basket of Laws but others say they need to stand on their own merit. We don’t care how they get done but they need done for this reason:

When currency speculators that will be buying the dinar at the time that it is introduced to them through the international currency exchange they want to see the management team of Iraq in harmony, not in disarray like it has been up until now. All further signs that things are moving in the right direction.

Pass the laws and arrange the last of their debt issues and we will see Currency Reform my friends. They have said that they have 15 days to accomplish this as of yesterday and I have a real warm and fuzzy feeling it will be done.

I will write about their debt and why I believe it must be accomplished before they can really have their assets to back the upcoming currency reform.

We don’t need intel or boots on the ground, we just need to stick to the facts.

The truth will bring us home!  Have a great day,  Stryker

I’d like to break down an article for you all. Here is the title and link :

New proposals for the adoption of the law infrastructure    LINK

I’ll just bring in some of the quotes for reference. Help keep your eye strain at a minimum lol

“hoped to pass the law of infrastructure during future periods of the life of Parliament, especially after a number of amendments to the paragraphs, which ensured review of contracts to be performed by the four companies, global consulting specialist, tend not to any other party certain political , as well as emphasis on non-mortgage Altherutin oil and gas for the implementation of projects, being the property of the people. “

They are being advised by four companies that DO NOT have political connections.

Read More Link On Right

  Quite obvious to me that the HCL Law (non-mortage being non-implementation)  is necessary to the success of the Infrastructure Law as stated above. When we see the HCL finalized we will see the Infrastructure law as well. They go hand in hand imo

“The Commission services and reconstruction parliamentary been revealed earlier in the words of its member for the rule of law, Ihsan al-Awadi, that the law of the infrastructure will shorten 5 7 years of work life of Iraq in the year one”

Contracts that took 5 to 7 years previously will be shortened to one year due to the reduction in red tape associated with the contracts. It will also ensure full compliance by contractors as they will held accountable within the legal framework of this law. The contracts will be fulfilled in a timely, predetermined time frame thus shortening the time to complete them.

“were included amendments that start with calculations of the Committee and of the political blocs to the law and well tuned, expected that in the case took political blocs such modifications it is possible to vote and passed in the times to come”

They have had meetings and gathered all the necessary requirements from each bloc, compiled the information and made the modifications and it is now ready to be presented to Parliament for the vote however, as I said above the HCL is tied to this as well as the terms of Article 140 of the Constitution ” oil and gas for the implementation of projects, being the property of the people”

“showed Tamimi most amendments to the law, pointing out that the review of contracts by four international companies, international not have any bias toward any political party in order to diagnose bugs in contracts if any”

They have four international companies helping them formulate this law . These companies have NO political affiliation thereby ensuring ” a fairness” within the law, making all future contracts whether it’s a mom and pop business or a multi – billion dollar company equal on the playing field.

“the most prominent paragraphs that were added to the law, new look, as well as emphasis on not compromising Baltherutin oil and gas and do not let Brhenhma for the implementation of projects,”

You bet your sweet a**   they will NOT compromise the oil and gas law or any contracts associated with it. This countries whole foundation is oil ! Think about it, if these contracts aren’t right the first time it will be disastrous and cost Iraq in the long run ! Remember they have to build refineries etc.. big money contracts ! Get it right the first time and that includes this law !

 
“alluded to the existence of fear parliament on the issue of payment on credit that permeates the law infrastructure pretext that the country will then be heavily indebted, stressing that a country like Iraq can not be the case because of its oil wealth and large metal which is still buried in the ground”

The fears of some of the Ministers is unfounded because Iraq has it all OIL , GOLD ( large metal which is still buried in the ground) and untold MINERALS,  the will not fail IF this is done right !

“noting that the objection coalition of Kurdish blocs on the law of the infrastructure was in principle for non-allocation accounted for 17 percent of the funds and projects in this law for the Kurdistan region”

Again HCL and Article 140 !

 
“in addition to foreign companies, which will examine the contracts and the implementation of projects are not the same that work at home there can be no room for corruption”

Outside mediation will curb 99 % of the corruption, taking the governments hands out of the pot so to speak !

 
“unlikely to be voted on this law during the current parliamentary session”

This is not unexpected now that we are seeing the correlation between the laws. When we see the HCL and full implementation of Article 140 we will see this Infrastructure Law as well… and then things will be just right.

The CBI should feel warm and fuzzy and quite comfortable doing what needs to be done, just sayin…. please remember that I was just giving my opinion based on what I have been taught and common sense plays in here too (winks) it has everything to do with MONEY period !!

Parliament is back on Thursday the 18th of July and we could see all this come to pass ! So be encouraged

7. 16. 13
Point is to reduce dollarization, raise value of banknote

Called deputies Economic Commission, yesterday, to accelerate the implementation of the project “reset” the process of local مبينين that current currency “not worthy” status of Iraq’s economic and investment in it, while the view of an expert that would require security situation and a stable political and banking system accurate and honest, confirmed last that moment, “more appropriate” than it was before the deletion of zeros from the currency.
Abtan: the country does not suffer from the crisis money and says a member of the Economic Commission representative, Abdul-Hussein Abtan, in an interview to (range Press), “The Iraqi economy has become today in advanced position and good because supplier of oil big, which reached nearly three million barrels per day, “and suggests that” the Iraqi Central Bank recently announced that reserves reached $ 76 billion, a very significant amount. “
adds Abtan, that “in spite of all that does not still Iraqi suffering from a lack of precision in the management of the economic file as well as the lack of coordination between the pillars. ” It was the Iraqi Central Bank announced, in the (third from July 2013 now), that Iraq is “in control of the funds and treasury of gold” in international banks, one of the acting out , denying the existence of frozen funds “outside the control of the Iraqi administration,”
While revealed that the reserve bank amounted to $ 76 billion in May last year, counting that out of Chapter VII would give Iraq “more freedom” to act and attract foreign investment. calls for a member of the Economic Commission representative, to the need for “multiple revenue estimated reflected on the economy and not on the availability of cash reserves large,” and continues that this “evolution in oil production and reserves, the central bank must be reflected on the lives of the citizens, because the country still has a large proportion of the poor and low-income and high unemployment, crisis housing and the deterioration of agricultural and industrial sectors. “
and sees Abtan, that “Iraq does not suffer from the crisis of funds but from how to manage money, causing paralysis of the Iraqi economy,” and calls for “Bank of Iraq the central need to take quick steps to delete the zeros from the national currency. ”
and is a member of the Economic Commission Parliament, that “the reserve that exists in Iraq and put the current economic is not commensurate with the size of the local currency and value that contains the number of zeros, and the current currency does not befit the status of Iraq and strengthen the economy. ”
Daini: out of Chapter VII made ​​it necessary to delete the zeros For its part, says a member of the Economic Commission representative, Nahed al-Daini, in an interview to (range Press), said that “the deletion of zeros from the currency became a reality, especially after the withdrawal of Iraq from Chapter VII of the Charter of the United Nations. ”
And remember Daini, that “the Economic Committee of the Council of Ministers were wary in the past of the deletion of zeros from the currency of many considerations, “and turned out to be” out of Chapter VII made ​​it necessary to delete the zeros to be of the Iraqi dinar absolutely privacy. “
and calls for a member of the Economic Commission parliamentary political forces and stakeholders “Leave excuse the wrong time, which taken as a pretext to stop a lot of decisions which, if applied to have contributed to the recovery of the Iraqi economy significantly, “and stresses the need to” adjust the border crossing points and the adoption of the law of customs tariff and reset the currency and the implementation of the Consumer Protection Act for the advancement of economic reality. “
Najib: The project requires a real will to that says member Finance Committee parliamentary Najiba Najib, in an interview to (range Press), “The Commission did not discuss with the Iraqi Central Bank Multi deletion of zeros from the local currency after assuming Abdel Basset Turkish presidency,” and explains that “the Finance Committee parliamentary pending claim CBI to discuss with him in this matter. “
And remember Najib that “the governing body of the former Central Bank presented a study on the preparation for the project to delete the zeros,” and believes that “this study were professional, scientific and included companies that have been agreed with the implementation of the project. ”
stresses a member of the Finance Committee representative, that “Iraq needs some salt is the deletion of zeros from its currency because the size of the money supply traded very large”, showing that there is a “four categories of the Iraqi currency is currently thousand and five thousand and ten thousand and 25 thousand dinars, while becoming the category of 250 dinars worthless almost even thousand dinars on its way to losing its value. “
and follow Najib that there is “an urgent need because we have a currency suitable for the size of the funds and investments entering Iraq,” and draws out that “the implementation of this project needs to be a real will and solidarity between the legislative and executive branches and develop a plan sober to make it a success. ”
adds “The process needs to educate the media and make the currency switch currency over two years and not to restrict banks certain and to be a broad base of banks Iraq in all provinces. ”
Expert: require security situation and a stable political Meanwhile, says economist as Antoine, in an interview to (Long Press), said that “you want to delete the zeros is the restructuring of the currency and reduce the use of decimal numbers in the accounts of the process, which has become a danger,” and shows that “The other thing is to reduce the fraud that occur in the existing currency, which depreciated significantly and need to process Switch. “
and see Antoine, “The other point is the reduction of dollarization because when you delete the zeros will raise the value of the banknote, not currency because the latter means and not an objective,” and continues that “it reduces the dollarization in business dealings Instead of using billions of leaves from the local currency Stenzel These millions and instead of transferring currency bags of wheat (Alkouan) will carry bags. ” and narrows the “time to change the currency was appropriate in the year 2012 the past, but now it is not appropriate. ”
specialist: currently more appropriate contrast sees Head of Economic Studies at the Center for Mustansiriya for Arabic Studies and International Dr Abdul Rahman al-Mashhadani, that “the time whether the appropriate two years ago to delete the zeros from the currency it is today becoming more solvency to complete it. ”
says al-Mashhadani, in an interview to (range Press), “The process of deleting the zeros was supposed to expire Two years ago, because the issue is purely economic, “and shows that” the dinar, which was torn and steals a loss to the government and citizen. ” He continues, head of economic studies, that “denominations now need to transfer large banks need to protect and place great,” and goes on to “the Iraqi currency needs to change because, according to the international standards should be changed categories currently in circulation and that the Central Bank shall issue new categories. “
It was the Economic Committee in the House of Representatives, called for in (the sixth of July 2013 now), the central bank to “speed up” the process of deletion of zeros from the Iraqi currency In order to maintain them, and confirmed that it is not in the interest of Iraq, the survival of its currency with so much and irregularly, as pointed out that the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty.
referred to as the General Secretariat of the Council of Ministers announced in (12 April 2012) , the patient in the application process to delete the zeros from the national currency, which had to stop action all relating to the operation mentioned until further notice.
noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the dinar, pointing out that the deletion needs to stabilize the security and political as well as economic stability. was the International Monetary Fund, announced in (the 23 of March 2013), that the funds preventive Development Fund for Iraq rose in 2012 to $ 18 billion, and cash reserves of the Central Bank of hard currency to $ 70 billion, and pointed out that This rise came from “oil revenues unexpected,” in called the Iraqi government to end the control of banks owned by the state of the banking sector, he stressed the need for Iraq to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.
predicted USAID, in (third from December 2012 the past) that leads the Iraqi economy, Arab countries within five years, stressing that Iraq possessed all the qualifications to be a powerful country economically.
Iraq is trying for years to attract foreign capital to develop its economy in the fields of industry especially oil, including housing and oil and gas extraction , for the need of funds for infrastructure development and reconstruction, but observers assert that the lack of interest of the state to the private sector and the absence of investment laws which guarantees for investors and the absence of other laws that are still obstacles to the development of the economy in the form required. depends Iraq, which has the fourth largest oil reserves in the the world to 95 percent of its annual budget on oil exports and currently produces about two million and 900 thousand barrels per day, while the issue up to 2. 0002 million barrels per day. was the UN Security Council voted in, (27 June 2013), unanimously approved the decision to remove Iraq from Chapter Chapter VII, after more than two decades of sanctions imposed whereby in the wake of the former regime’s invasion of Kuwait on the second of August 1990.
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