Wednesday News Summaries and Commentaries
Well this is a week of numbers….remember what they are? One, Two, Three, and Four…..
1). Make public the LAWS;
2). Watch for the LD’s (50’s and 100’s) some are in Iraq, others are coming;
3). Date Dr. Shabibi to announce his return to the CBI; and
4). Dr. S receives the FATWA from the Iraqi cleric and yet another green light from the IMF to move things to a level of his choice.
If you didn’t catch the Bible Study CC last night and missed the nice dessert afterwards, I would highly recommend you go and listen to both:
You might just learn a few new things that have changed since Monday Night’s CC.
The flow of the lava is certainly “fluid” right now, it is moving and making people stand up and take notice…..as for blue notes from last night’s CC, there are none, thus another reason to study the Bible Study CC…..
As for news this coming week, expect another week of what last week looked like….ho-hum….not much is coming out…..but what is happening behind the scenes…..because we know as the lava flows the Iraqis are not being idle.
Parliamentary Finance reveal Iraq Federal Reserve: $ 59 billion and 90 tons golden
A couple of things reflect positively with this article….the CBI reserves seem to be stabilizing instead of continuing to fall….they stand now at $58 billion dollars…..while their gold reserves sit on the scale at 90 tons…..even though this report comes from the Finance Committee, the interviewee did manage to get some things right it would seem…..
This money is almost untouchable….except for rare instances….so you there in the GOI…..keep your sweaty palms out of the till…step back from the counter please and empty your pockets before leaving…..
They also speak of the DFI fund and mention those funds are maintained by the Ministry of Finance…..now as I’m writing this I thought we had an article from maybe a year ago or so that indicated the CBI was the custodian of these funds (DFI) once they were turned back over to Iraq….(WalkingStick can you confirm this from your archives of articles? Thanks)…..
It is a shame that someone of a responsible nature wasn’t watching the DFI balance when Maliki was in office because in his last days this balance dwindled significantly before someone thought to start keeping track of things.
Optimism imminent passing of the Federal Court Act after Kurds vowed flexibility
Well here is something to be watching for….the passing of the Federal Court Act in the coming days…..and it may have the backing of the Kurds it sounds like….this is one of those laws that I’ll throw this tidbit out again….what happened to Speaker Jubouri’s “30 day rule” to get bills/laws pushed through Parliament….this one has been around at least since February….kick the tires and light the fires people…..it’s past time for a hot run by Parliament…..break the sound barrier with some lively action in the coming sessions and show the Iraqi people and the world that you stand in agreement with the reform activity that PM Abadi is pushing and that the Ayatollah Sistani supports…..earn your keep.
Finance: New talks to borrow without significant benefits
Finance Minister Zebari is beating the streets around the world looking for good opportunities for Iraq….anyone that is willing to loan money to the country at a decent rate…..meaning something less than 10% interest and who’s first name is not Guido…..let’s make this mutually beneficial for all involved.
Due to the withdrawal of many of the laws of the government, “the parliamentary sessions devoid of important laws.”
I stand very strongly on the principle of doing something right the first time…..meaning if you know something is wrong with a project before it gets publicized then fix it before putting out the final report…..none of this, “oh we can fix that later” garbage….have some integrity regarding that which you attach your name to……
That being said the laws that were withdrawn from Parliament were supposedly authored by the former government…that of the “Shady Ranch Gang”…..those associated with “Shyster Loans, LLC”….know what I mean….so PM Abadi, in looking at what sat on the desk of Parliament decided to pull some 55 or so of those laws back to the COM to be “redressed” and close any loopholes that may have been purposely installed in them…..
This to me is a well deserved action on his part, given the known track record of those who preceded him….it matters not where those laws were in the scheme of things, first reading, second reading, or 19th committee study 4 times removed….who cares….there were anomalies identified within them that need attention….applause please for Abadi.
Economist: central bank issued gold bullion to withdraw cash liquidity from the market
Caution about this article up front here……just because you see the words “gold….”auction”…..and such in this article don’t waste time trying to equate anything to their daily currency auctions….not the same basket of fruit……
In the meantime know that the CBI in their thinking was intent on trying to get some of the Iraqi currency off the street….the people were obviously reluctant to want to put their cash funds into a bank savings account….because often times what goes in does not always come back out…..
However, if there was gold bullion being made available to the people….those at least who have money….this was perceived as yet another means of scooping up cash from the streets in exchange for something of significant value….you give me X amount of cash….I hand over X grams of gold bullion in return….square deal….and the CBI picks up more of the currency they have been trying to vacuum for the past couple of years…..in a closing but exciting note…..pay attention to the last couple of paragraphs of this article and relate that information to the article just above about reserves…..
Up above they mentioned that today the gold reserves for Iraq stand at 90 tons…..incredible I believe since just three years ago Iraq’s gold reserves were only at 31 tons….a 2/3rd’s jump in such a short time.
Legal representative: the government withdrew the guard, oil and court salaries and amnesty laws
Here is a short list of highly critical laws that the government (COM) removed or withdrew from Parliament….this includes the Amnesty Law, National Guard Law, Federal Court Law, Salary Scale Law, and the granddaddy of them all….the Oil and Gas Law….
Now this of course does not empty the coffers of Parliament…..they still have plenty of work to do and many things they can wrap their arms around and sink their teeth into…..but as I’m writing this I had one of those Arsenio Hall “finger to the temple” sort of HMMMMM moments……
They said originally that many of these laws were originally written by members of the former government….I can see where PM Abadi would want their finger prints off of the material…..it was also said that these laws were written so long ago they do not reflect the desires of the people today and as a result need to be rewritten….ok with that too…..but why “right now”…..timing…timing….timing….has made me wonder…..
Is PM Abadi about to hold true to something that was said a week or so ago….”if you can’t get this done, I’ll take matters into my own hands and do it myself.” Just wondering….thinking sort of out loud on the computer screen……could this be his actual motive…..sort of a “Big Bang” effort rising on the horizon for Iraq in a very unconventional sort of way…..
Think about it…..the people don’t trust Parliament….their demonstrations indicate that…..who do they trust…..the Ayatollah Sistani for one…..PM Abadi for two…..Dr. Shabibi….but NOT the Parliament….think on that for a while….and add this oddity to the spin as well….many of these laws were in their final stages of approval with Parliament….what gives here.
Well I have some things to get done before my MRI this morning, so I’m going to declare this as a stopping point for a while….hope you enjoy this little treasure of goodies.