Chat Room – News Excerpts & Highlights
magnetlady says(): Dinar Updates – “News Time” w/BGG & Company! –
– Sunday, April 30th 7:30 pm CST – In the DU Chat Room!
Mrs BGG says to magnetlady():Good evening Mags!
magnetlady says():Hey Mrs. BGG
Mrs BGG says():bbiab 🙂
SRW says to Mrs BGG():I have a question..
larrykn says():GE everyone 🙂
Localcats says():yes i have a question the new trading platform for procurement e system do you think this is a big deal. thank you
Localcats says():starts may 1st
SRW says to Mrs BGG():Would BGG please give us the true meaning of the deletion of the zeroes project? Thankyou..
Mrs BGG says to SRW():You can ask it during News Time…
BGG says():Hey everyone – great to see you all here… you too Mags
magnetlady says():I am so glad to be here.
BGG says():OK – let’s get to it!!
Mrs BGG says():Welcome everyone to News Time! We’re glad that you’re here For anyone new, and just a reminder, if you have a question please use a ?
or comment you can use a ?
Please wait until we ask for questions….and then please get your question ready so when we call on you it will go smoothly
News Reasearchers are welcome to join in on the discussion
Thank you’all for your understanding!
BGG says():To start things off…
A great question posed by SRW a bit earlier… “Would BGG please give us the true meaning of the deletion of the zeroes project”?
Yes… I will
The “Delete the Zeros” project – (we believe) is part of the currency reform project in Iraq.
Most notably the process of raising the value of the Dinar and then removing the larger “3 zero” notes from the market.
the article I covered back on April 9th?? during one of the Live Videos detailed this very process and what is required. It even detailed the things needing done prior to…
you know – the question everyone keeps asking “what is left to do…” – that question.
SRW says to BGG():Thankyou.. It’s not that complicated, but some are making it so..
BGG says():Well – that article told us exactly what needed to be done – and kind of in what order.
it was an actual interview with a higher up CBI official – no need for a “secret CBI source” – they just told us… that’s it.
lemme’ see if I can grab that article real quick… probably should post that one on the primary post from here on… (in the current Iraq News Thread)
Woops – it was actually still on THE BLOG
BGG says():http://www.dinarupdates.com/blog/ – toward the bottom – as of yesterday. You may have to look back a day or so…
here was the title
Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
“…the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros…”
political and legal environment.
BOOM – there it is.
“…the printed currency size has exceeded the “11 billion and 600 million dinars, he urged citizens on the need not to keep large amounts in homes or buried in the ground…”
they don’t want people sitting on those big notes – they want them out, where they can easily retract them from the marketplace.
I didn’t really intend to recover this material – BUT it ties in nicely with where we are.
* What about the subject of the deletion of zeros and the reason for the delay?
– the decision on the deletion of zeros cannot be taken in isolation from the political and legal environment in the country under conditions the security situation as a result of terrorist acts and exit from the provinces outside the control of the state for the years 2014, 2015, 2016 which prevents certainly to wait in the implementation of this project,
in addition to that this must be done in coordination with all state departments and the private sector, where it should be followed by changing the paragraphs contained in the various laws,
which include a reference to fines or lump – sum collection of fees, must also change the financial and statistical records in order to conform with the project process the deletion of zeros. On the other hand, the technical preparations are underway by us.
So there it is…
1) Security – control of the state (ie; Mosul)… CERTAINLY PREVENTS THE IMPLEMENTATION OF THE PROJECT.
2) When it is DONE – it must be “…done in coordination with all state departments and the private sector…”
Here’s the DOOZY folks…
3) “…where it should be followed by changing the paragraphs contained in the various laws…”
MEANING – ONCE THE VALUE CHANGES THEY HAVE TO GET A FEW THINGS CHANGED TO SUIT THE VALUE.
THEY JUST TOLD YOU THE ORDER OF THINGS.
4) “…must also change the financial and statistical records in order to conform with the project process the deletion of zeros…” This bit ALSO INFERS A VALUE CHANGE AS THE PRECURSOR TO REMOVING THE NOTES AND THE REST OF THE PROJECT…
here’s another ZINGER…
5) “…On the other hand, the technical preparations are (already) underway by us…” -WHAAAAAAATTTT??
THEY ARE ALREADY GETTING THE TECHNICAL STUFF UNDERWAY. THEY MUST THINK WE ARE CLOSE?? This is the ACTUAL CBI talking – not some IDIOT on the internet.
so – in summation… I am getting a little weary of the people boo hooing everyday about “the can getting kicked down the road”… “are we there yet”… “I don’t think this will ever happen…” “Mosul won’t get done until June or July”…
whatever your personal frustration – don’t use it as a license to beat everyone else up with unfounded negative speculation… THE CBI JUST TOLD YOU!!
and they didn’t say July… other notable things missing… not a whisper about article 140
No mention of HCL (one would think – if that were of concern to the CBI they would have mentioned it).
_firefly_ says():The IMF and WB doesn’t care about article 140
BGG says():nothing on laws being passed beforehand…
Mrs BGG says to _firefly_():Please hold until the Q & A Thank you
_firefly_ says():: )
BGG says():nor did they say anything about UN CH 7 sancitons or “Charter”…
because they likely know that won’t come off for a while…
Whew… rant over.
pacella says():KEEP GOING
larrykn says():keep going your doing great
bubbles says():keep going
BGG says():Quick poll – type 1) for ??’s and 2) for me going on…
jtank says():good stuff!!
Beeson says():love it keep going
Philidius8313 says():Keep going
Charlie&Gracie says():keep going
willie60 says):go please
jtank says():BGG GO
Kerryjeanfit says():Please keep going
Bosun Commander says):2
SRW says():Um.. Undecided.. :uhm
BGG says():The 2’s have it… I guess we solved that mystery.
Ok – here we go… back at it.
BGG says():Class… Class…
cowboywads says():the 2 have it
BGG says(): s40 So I want to cover the Mosul topic –
here is a headline from Abadi a couple of days ago…
Abadi to declare Mosul ‘completely liberated’ next Saturday – this came out on Thursday… usually we construe this to mean the next, coming Saturday – but that may not be what he was saying.
Just saying… and… then there is this…
Iraqi commander vows to complete capture of Mosul in May
“…The battle should be completed “in a maximum of three weeks”, the Iraqi army’s chief of staff, Lieutenant General Othman al-Ghanmi, was quoted as saying by state-run newspaper al-Sabah on Sunday…”
two very different perspectives – Abadi – one of his field commanders…
keep that in mind…
ask me if I care whether it’s next week or during the next month??
IN EITHER CASE – THEY’VE ALREADY TOLD US!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
there can be a hundred reasons for the differing comments. One – and the most likely – the Iraqi leadership is being held accountable for results or lack thereof…
they just sacked a couple of top guys over the slow going…
so I bet this guys is hedging his tenure a little…
or I should say “are NOW being held accountable…”
btw – HE VOWS – meaning he’s saying – I PROMISE!!
none of which is bad… all good.
next… and this probably doesn’t impact us – or the CBI would have made mention of it… on the other hand, I can refer to a number IMF-WB-UN vague references to their sensitivity to this subject. CORRUPTION and MONEY LAUNDERING
Vice: The Americans gave Abbadi the names of the senior corrupt and the amount of money they stole
Vice: The Americans gave Abbadi the names of the senior corrupt and the amount of money they stole
The deputy of the National Alliance Ali al-Badiri, on Sunday, the Americans provide the Prime Minister Haider Abadi names of senior whales corruption and the amount of money that they stole.
“Prime Minister Haider al-Abadi is capable of fighting corruption and inflicting corruption on the prisoners, but he is facing a strong counter-campaign within the Iraqi parliament by some MPs,” he told Mawazine News. “When you try to remove any corrupt person, Decisions and countermeasures “.
“…Abadi is capable of fighting corruption…but he is facing a strong counter-campaign within the Iraqi parliament by some MPs…”
“Abadi is intent on the corruption file. Many people bet on his inability to liberate the regions from Da’ash, especially Falluja, but he won the bet and now they are betting on his inability to fight corruption and we think he will succeed as he promised he has a plan,” he said.
“…but he won the bet and now they are betting on his inability to fight corruption and we think he will succeed…”
Key phasing there…
He pointed out that “the US administration provided him with some names of corrupt dignitaries and the amount of stolen money,” noting that “the next stage will face Abadi heavy pressure to prevent the trend towards this file.”
He added that “the completion of the mobilization and liberalization of land will be the direction of the causes of corruption.”
Sounds like the US knew who was up to what – how much – and where it’s at… Huh?!? NICE!!
Prime Minister Haider al-Abadi stressed that he has a plan to combat corruption and corruption, as was the fight against the terrorist advocate and the liberation of land from him.
My take – this last line almost refers to the terrorism threat in the “past tense”. Corruption appears to be next. so – here we are. Not a huge news day – but why do we need it?? We’re in a HUGE NEWS TIME. This is it.
The VERY PLACE WE ARE – IS THE NEWS.
my take – LOOK UP!! It’s not a bad place. ALL GOOD!!
sagecanyon8 says():? Comment please?
BGG says():and that, folks… is where BGG Drops the Mic and walks out.
Thanks for joining us for News Time.
jtank says):he is toast
Mrs BGG says():Thank you all for joining us for News Time!!
sagecanyon8 says):Just…Thank you…I needed this.
Mrs BGG says():Thank you Mags for copying!!
bubbles says():thanl you s51
Baxter1243 says():thx so much BGG and Mrs BGG (y)
larrykn says():thanks Tom great newstime
Mrs BGG says to Baxter1243():you are welcome! We are blessed with an amazing team here @ DU!!
SRW says to BGG():Thankyou..
1bobby says():Thank you
sassy says):Thanks BGG and all that helped with newstime
Sweetcandy says():Thanks BGG & Mrs BGG
pacella says():THX BGG GREAT JOB THANKS MRS. BGG AND MAGS
dale says():Thank you BGG and Mrs. BGG
luckyone says():Thank you BGG and ALL
goblio says():Thanks s73 Soo, Abadidi just needs to hold up an envelope with the words, “US Disclosures of Corruption” printed on it to keep people in line?
magnetlady says():Thank you BGG and Mrs. BGG