Chat Room Excerpts & Highlights
clay01 says( i dont know what your talking about, 😀
designbyg says( 😀
clay01 says( trying to kick start the crowd 😀
clay01 says( cant find the throttle though, 😀
designbyg says( ya…..good luck with that one on a sunday morning…… 😀 😀 😀
clay01 says( i see your point 😀
designbyg says( i find a Hibatchi and a hand grenade works…..sometimes…..
clay01 says( (lol)
wiley says( Joel Osteen’s message today ” Your Set Time For FAVOR ”
dennis2 says to wiley( Did he give a date & a rate? lol
wiley says to dennis2( Ha, even he won’t do dat
designbyg says( what if there is no ‘date’?
designbyg says( imo, this is a progression of events…some have timeframes, some dont…as much as i’d love to look for a date in all of this, the events will dictate when things are due…
designbyg says( Had there been an actual emergency, you would no longer be here.
larrykn says( gm rcookie what is this about Iraq bring in currency bonds next month and the lifting of the dollar exchange rate,, sounds like they are about ready to do this 🙂
rcookie says to designbyg( WOW!..
designbyg says to rcookie( i know right? 😀
rcookie says to larrykn( ALREADY HAD 1 AUCTION THIS MONTH ON 4TH….
rcookie says to larrykn( ENTIRE LIST OF CABINET TECHNOCRATES WITHIN 10 DAYS….
larrykn says( wow, we don’t have to guess as to where we are at ,, they are telling us where they are at 🙂
designbyg says to larrykn( you just wait for that pole-shift to happen, then we’ll see who is basking lol lol
larrykn says( lol
rcookie says to larrykn( YES…AND THEY HAVE BEEN …JUST NOT WITH TELEGRAPH OF A SPECIFIC DATE…
rcookie says to larrykn( THE REPORTS LAST NIGHT CONCERNING INTERNATIONAL AUDIT OF MOF & CBI WERE ALMOST VERBATIM OUT OF THE IMF LOI…..
larrykn says( well I’m not saying they are giving us a date but we just can’t be that far off now
larrykn says( I’m sorry we been getting ready to move so I havent’ been around to much these last few days I’ll go read that report is it in the new section
rcookie says to larrykn( THERE IS SO MUCH NEWS RIGHT NOW THAT DIRECTLY CORRELATES TO IMF BANKING SUPERVISION INITIATIVES….
larrykn says( rcookie what is your opition on were they are at on corruption?
rcookie says to larrykn( HOLLY BROUGHT IN INT’L AUDIT PIECE…AND I POSTED THE EXACT PART OF IMF LOI…
larrykn says( in chat yesterday, do you know what time that was 🙂
rcookie says to larrykn( THEY ARE ROCKIN ON CORUPTION….4000 CASES ALREADY TO INTERIOR & INTEGRITY… WAS LAST NIGHT…PRETTY LATE..
rcookie says( Economists: billions of dinars from drained state coffers through the social protection network 2016/06/28 (00:23 pm) – hits: 32 – count (3585) Baghdad Ibrahim Ibrahim
Read More :http://www.dinarupdates.com/showthre…ection-network
http://www.dinarupdates.com/showthread.php?30798-Billions-of-dinars-from-drained-state-coffers-through-social-protection-network
designbyg says( Having children is like having a bowling alley installed in your brain
wmawhite says( THERE IS SO MUCH NEWS RIGHT NOW THAT DIRECTLY CORRELATES TO IMF BANKING SUPERVISION INITIATIVES…………………………….
Rcook ie, any doubt why the IMF told the world during November 2015 that their expectation was for Iraq to enter the economy market during the first half of 2016???
wmawhite says( Folks,……….you have already been told “when” by the one entity that knows more about Iraq than Iraq does.
wmawhite says( All of this information that rcookie brings in here is evidence that supports the previous statement by the IMF and IMO shows that the “group” of players (IMF, WB, CBI, GOI) are pushing forward with purpose and a timeframe in mind.
rcookie says( GREAT REPORT ABOUT THE BILLIONS OF DINARS DRAINED FROM STATE COFFERS FROM FAILED SOCIAL PROTECTION NETWORK PROGRAMS…
AND THEIR EFFORTS TO RESTRUCTURE MINISTRY OF LABOR AND RELEVANT LAWS TOWARD HUMAN DEVELOPMENT…IN COOPERATION & ASSISTANCE WITH WORLD BANK…
AND PLANS TO MERGE THE SOCIAL SECURITY AND PENSION FUND WHICH HAS RESULTED IN AN ANTIQUATED AND INEFFICIENT PROGRAM OVER LAST 4 DECADES…
LEADINGTO DISFUNCTIONAL SYTEM UNABLE TO VET RECIPIENTS IDENTITY..WHICH HAS CONTRIBUTED TO ERRONEOUS PAYMENTS …FINANCIAL MISAPPROPRIATIONS…WASTE OF STATE FUNDS…
AND LOOK TO STABILIZATION PLAN IN 3 AREAS..1) SOCIAL PROTECTION NETWORK..2) RETIREMENT…3) LABOR MARKET POLICIES…AND INCREASED BUDGET ALLOCATION FOR 2016 TO FUND THIS PLAN…
AND ACTIVATE CONCESSIONS AND COEXISTANCE BETWEEN PUBLIC & PRIVATE SECTORS…
rcookie says( ^^^^^^
rcookie says to wmawhite( THE INTERNATIONAL AUDIT REPORTS LAST NIGHT ABOUT MOF AND CBI AND RELATED BANKS IS MORE EVIDENCE OF THE SAME…. RIGHT FROM THE IMF LOI…
wmawhite says to rcookie( Always ask……….”why now?”
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Good Morning wmawhite. Many are putting a lot of significance on the WTO membership deadline for international currency. I read that anews article yesterday that the WTO top officals were welcoming Iran as a memnber. Could you comment on that as a catalyst?
wmawhite says to rcookie( “What is the purpose?”
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( That is, IMO, grear news economically for the region and of course, Iraq will benefit.
rcookie says to wmawhite( AGREED…WHY NOW…WHY NOT BEFORE THIS….WHAT IS TE GOAL…
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( Iraq will only become stronger economically with any increase in trade.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Is there really a deadline for FX global trading of March 1 for WTO membership or is that a softy requirement.
larrykn says( rcookie does this sound like the old cbi govenor is coming back
Loopback says( Defining roles Returned Governor of the Central Bank says that among the goals of the strategic financial stability as we work to read the challenges facing this side and we seek to put her plan in collaboration with several entities and defining roles and establishing a basis for the evaluation of assets is an important financial institutions and their role in the face of financial crises.
Read More :http://www.dinarupdates.com/showthre…-27-2016/page2
http://www.dinarupdates.com/showthread.php?30757-Saturday-February-27-2016/page2
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( ): Keep in mind……….so much of this is significant for Iraq years into thefuture……………what we are going to see, IMO, is much more in the near future/timeframe.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Thank you. Morning rcookie and larrykn. what a pleasure to start off the day with expert news flow.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Thanks
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( Answering your previous question……..IMO, if there is…..we would never know of it.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( Also,……..Iraq is in the final stages of review for becoming a ful member of the WTO………..and those final review decisions are never made public until after the diecisions are made.
love it 2 says(): Good morning all …so we wait on another 90 days til the WTO ?
wmawhite says to love it 2( WTO has nothing to do with what we are waiting for…………..the WTO decision is an after the fact event.
rcookie says to wmawhite( TOOK THE WORDS…
love it 2 says to wmawhite( ahh ..ok ..so just sit back and wait ? I’m use to that not complaining at all 🙂
wmawhite says( What did the IMF tell you in November 2015????
love it 2 says to wmawhite( they never called me 😀
wmawhite says( Me either……..but I still talk about and understand how all of this is evidence of what they expect to happen.
love it 2 says to wmawhite( I’m glad you understand this mess… because even after 5 years here in the chat… I still have no clue …but hey it is what it is ….and I’m in it to win it 🙂
rcookie says to Holly1( THERE IS A PERFECT EXAMPLE TO THE POINTS MADE LAST NIGHT…..
THIS COULD HAVE SIMPLY NOT HAPPENED WITHOUT ACTIVATION & COMPLETION OF THOSE SUPPORTING LAWS AND CONDITIONS TO SUPPORT INTERNATIONAL INVESTMENT AND PRIVATE SECTOR EXISTANCE AND COEXISTANCE WITH STATE RUN BUSINESS….ALL OF THESE THINGS HAVE HAPPENED IN LAST YEAR…
rcookie says to Holly1( LABOR LAWS…SOCIAL PROTECTION NETWORK LAWS…PRODUCT PROTECTION LAWS..USURY LAWS…INVESTMENT & BANKING LAWS….INSURANCE LAWS…COMMERCIAL LICENSING LAWS & ENFORCEMENT…
Holly1 says to rcookie( Iraq is about to set up a financial court to recover his money contraband 02/28/2016
LLN65 says to love it 2( yeah gonna get some coffee and chat with hubby for a few :-* good talking to you!!
Holly1 says to rcookie( BAGHDAD / JD / .. announced the economic and investment commission in Parliament, the intention of Parliament approve the financial Court Act, which puts Iraq under the international standards, which help him to recover all his money contraband.
A member of the committee MP Ahmed Salim told / KD /: to invite the President of the House of Representatives to approve the financial Court Act, it means that the law will be on the parliamentary agenda in the coming period is to be read and then passed.
Holly1 says to rcookie( He added that this law will be through the establishment of special financial court, which will make Iraq as part of the Great State and subject to international standards, which will help him to recover his money contraband and reduce money laundering and financial corruption. / End / 8 /
LLN65 says to Holly1( I like that !! TY (F) LLN65 says to Holly1( progress!
rcookie says to LLN65( GREAT STUFF HOLLY!!…THANK YOU…
Holly1 says to rcookie( Indian ambassador for “tomorrow Press”: $ 15 billion, the value of trade exchange between the two countries 02/28/2016 11:39
Holly1 says to rcookie( Tomorrow Press / Baghdad: detecting the Indian ambassador, George Raju, on Sunday, the value of trade exchange between Iraq and India during the financial year 2014 – 2015, and while stressing that it amounted to approximately $ 15 billion. Raju said in a statement for “tomorrow ‘s Press,” that ” exchange between Iraq and India , the size ranges from 14 to
Holly1 says to rcookie( 15 million , but we can not now determine the exchange due to lower oil prices , “explaining that” Iraq ‘s second – largest financier country of oil to India in the region after Saudi Arabia. ” and that” over the past year has bought India ‘s oil crude from Iraq ‘s $ 15 billion ,
“he said , adding that” the fiscal year 2014 and 2015 , the estimated value of trade exchange between the two countries , during which amounted to 15 billion, and there is less than a billion dollars was for goods other 14 billion of crude oil. ” he said the Indian ambassador that” during 2016 We expect to be the exchange of $ 15 billion , or slightly lower because of lower oil prices. ”
da58 says to rcookie( check out the ‘free market economy’ wording here…
Keywords: our ultimate goal of financial stability
2/28/2016 0:00 BAGHDAD – Hussein al – Tamimi Tgb Shokran Fatlawi Central functions he said the strategy announced took into account expansion in the framework of the central functions and emerged from our perception of the economic framework of the country after the shift to a free market economy
http://www.alsabaah.iq/ArticleShow.aspx?ID=111359
da58 says to rcookie( after the shift to a free market economy
wmawhite says( Folks,…..the term “free market economy” or “activating the private sector” are another way of describing “entering the economy markets”.
wmawhite says( In order for Iraq the have a free economic market, the individual business owner has to have the ability to buy something from outside of Iraq and automatically have it paid for using his/her Iraqi bank account using his/her country’s currency.
wmawhite says( Again,…..as I have stated many times…….we will never hear “RV” or “RI” but we have been given the same information….only it has been described in other terms.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( It is interesting that the three largest emerging market invests Franklin , Templeton and I think Fido said that they are putting half of the cash of the portfolios back into the emerging markets due the the ten year low in valuations.
Also constructive on the economic outlook /GDP relative growth rates. Did not mention specific countries but has to be Vietnam, Philipines ….and IMO IRAQ and IRAN when currencies come on line.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Pointing out how the US dollar has been a major restraining factor in growth a trend that has run its course.
love it 2 says to wmawhite( IYHO ….do you see closure to this by years end …no pressure to answer and wont hold you to it 🙂
Holly1 says to rcookie( S&P: Republic of Iraq ‘B-/B’ Ratings affirmed despite lower oil price assumptions; outlook stable Iraq, February 28, 2016
Holly1 says to rcookie( In mid-January 2016, Standard & Poor’s lowered its oil price assumptions for Brent by about $20 per barrel (/bbl) over 2016-2019. We now assume $40/bbl in 2016, and an average of $46/bbl in 2016-2019 (see “Related Research” below).
When we last reviewed Iraq in August 2015, we expected Brent oil prices to average $55/bbl in 2016 and $65/bbl in 2016-2019. Current prices for crude oilin spot and futures markets are about 70 per cent below mid-2014 levels, when prices began to slide. Iraqi crude trades at about a $5/bbl discount to Brent.
Holly1 says to rcookie( Our rating on Iraq is constrained by its war with the so-called Islamic State (IS or Daesh), as well as by its political institutions, which are in an earlystage of development, and sectarian divisions between the Sunni, Shia, and Kurdish ethnic groups. The rating is also constrained by high fiscal and external deficits and, as a consequence, sharply rising debt. Iraq’s rising oil production and massive oil reserves underpin our rating.
Holly1 says to rcookie( Iraq has the world’s fifth-largest proven crude oil reserves and is the second-largest oil exporter in the Organization of the Petroleum Exporting Countries (OPEC). Oil dominates the Iraqi economy, contributing over 60 per cent of GDP, 90 per cent of government revenues, and more than 95 per cent of exports.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( The fact that agencies didnt
wmawhite says( November 2015….The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed in a press statement…………he stressed that Iraq will return to economic market during the first half of next year. http://www.almadapress.com/ar/news/5…84%D8%B3%D9%88 LINK
Holly1 says to rcookie( In recent months, the Iraqi forces and their allies have retaken some territories that IS controls, such as Ramadi (west of Baghdad) and Baiji (the site of Iraq’s largest oil refinery). IS previously controlled large areas in the country’s north and east. Although it still controls Iraq’s second largest city, Mosul, its territorial control of Northwest Iraq has shrunk significantly since our last review.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( lower outlook ot=r rating since origimnal issue sauys a lot. \
Holly1 says to rcookie( Crucially, over 85 per cent of Iraq’s oil fields and production are located in the south of the country close to Basra, the main port for crude exports. These are Shia-controlled areas at some distance from IS-controlled areas and the conflict. Within our rating, we assume that the federal government will remain in control of these assets. They are the key support for the rating.
Holly1 says to rcookie( In 2014, faced by the then-rising IS threat, Iraq elected a new government. In September of that year, Haider Al-Abadi became prime minister. Mr. Al-Abadi isviewed as more inclusive and secular in his approach than his predecessor, which is easing ethnic tensions and improving relations with the U.S., one of Iraq’s key allies.
In August 2015, Mr. Al-Abadi announced reform measures, including cuts in the size of government, in response to escalating social protests across the country spurred by electricity blackouts and unsatisfactory social services. Many Iraqis believe that the government reforms have yet to bear fruit.
Holly1 says to rcookie( After a 2.2 per cent contraction in 2014 and estimated 0.3 per cent growth in 2015, real GDP growth will by our projection likely rise to an average of 6 per cent in 2016-2019, assuming the government’s expansion of oil production proceeds as planned. In January 2016, Iraq’s oil production had already reached 4.1 million barrels per day (bpd),
which was the target the government planned to achieve by the end of the 2016. This compares with targeted exports of 3.6 million bpd in 2016, up from 2.5 million bpd in 2014.
We think that Iraq’s oil output could reach 5 million-5.5 million bpd by 2019 (with exports of about 4.5 million-5 million bpd). We think that Iraq’s oil output could reach 5 million-5.5 million bpd by 2019 (with exports of about 4.5 million-5 million bpd). We expect domestic demand will remain weak for at least two years, owing to the war against IS, internally displaced populations, and general social uncertainty.
Holly1 says to rcookie( The internal and external shocks–the IS conflict and sharply lower oil revenues–that Iraq has faced since 2014 have hurt public finances. We project the general government fiscal deficit will rise to 18 per cent of GDP in 2015 and 14 per cent of GDP in 2016 from a deficit of 5.5 per cent of GDP in 2014.
The widening deficit will result largely from falling oil revenues and high military and humanitarian expenditures. We think that the IMF’s Staff-Monitored Program approved in December 2015, will help restore some order to public finances and pave the way to a possible IMF financing arrangement in 2016, which could include budgetary support.
Holly1 says to rcookie( The drop in oil revenues is hurting the government’s debt position. We understand that domestic issuance is the main funding source for the 2016 government financing requirement. We expect most of the debt will be taken up by Iraq’s commercial banks, led by the two largest: Raffidain Bank and Rashid Bank.
We expect that the banks will fund these purchases by incremental deposit growth and by repurchase operations with the Central Bank of Iraq (CBI). In addition, the government has indicated it is planning external financing from the IMF, the World Bank, and bilateral creditors, as well as from a possible Eurobond offering.
We project that general government debt will average 78 per cent of GDP in 2016-2019, up from about 39 per cent of debt in 2014. Iraq’s debt stock has benefited from an 80 per cent haircut that the government negotiated with its Paris Club creditors in 2003-2004.
Holly1 says to rcookie( Iraq’s current account has typically run a surplus thanks to the country’s large oil exports. However, we expect the current account balance will turn to a deficit and remain in deficit until 2019 because of the sharp drop in the oil prices.
We forecast Iraq’s current account deficit will average 5 per cent of GDP in 2016-2019, compared with an average surplus of 10 per cent of GDP in 2011-2014. We understand that the current account deficits will be financed by a substantial drawdown of official foreign exchange reserves, as well as external borrowing.
We forecast external debt, net of public and financial sector external assets, at about eight per cent of current account receipts during 2016-2019, and we estimate average gross external financing needs as a percentage of current account receipts and usable reserves at about 82 per cent.
Holly1 says to rcookie( Inflation currently remains low, with consumer price inflation in the low single digits (approximately 2.2 per cent in 2014). We expect that the CBI will maintain the dinar peg to the U.S. dollar, albeit with minor fluctuations, unless financing conditions are more difficult than we currently expect.
While the peg has helped control inflation, it limits the CBI’s monetary flexibility. Moreover, although the liabilities and guarantees of the domestic banks appear high compared with the fair value of their assets, we view financial sector stability as a secondary issue compared with the country’s security and the consequences of negative terms of trade.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says US shale drilling yesterday news release that there was a a lot of fracking fluid released into a large California aquifer is another nail in the shale production.
Holly1 says to rcookie( The stable outlook reflects our expectation that Iraq’s large fiscal and external deficits will be financeable, and that its conflict with IS will be contained. It also incorporates our forecast of a return to strong growth from 2016 thanks to the increases we project in Iraqi oil production and oil exports.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Between Oklahoma earthquakes and groud water contamination plus high extraction cost will take enough production offline to get ME oil back to $40 plus
rcookie says( THIS FROM THE REPORT HOLLY BROUGHT IN LST NIGHT AND DA58 TODAY…..
rcookie says( TALKED ABOUT LAST NIGHT….ROLE AND PREAMBLE OF CENTRAL BANK…CURRENCY VALUE STABILITY…..STRATEGY OF CENTRAL FUNCTIONS….MANAGING THE ECONOMY…
SUSTAINABLE DEVELOPMENT…QUOTED 5 GOALS/5 YEAR PLAN…
COOPERATION WITH PRIVATE BANK ASSOCIATION TOWARD FOSTERING CONSUMER EDUCATION AND AWARENESS OF IMPORTANCE OF BANKING…
DEVELOPING BANKING SECTOR POLICIES & PRACTICES GEARED TO PRIVATE SECTOR BUSINESSES
COOPERATION BETWEEN CBI AND PRIVATE BANKS…..AND ACTIONS TOWARD ACHIEVING FINANCIAL STABILITY…ESTABLISHING A BASIS FOR EVALUATING ASSETS….
rcookie says( READ THIS….
rcookie says( pointing to the hiring of an international center to evaluate the banks in terms of the physical aspects, warning of the importance of protect the financial system , where it is exposed to crimes such as money laundering, referring to the exceptional effort in the preparation of money based laundering law on the basis of international standards to be acceptable at the international level.
sell the currency Keywords revealed the contract with the Office of international scrutiny to develop procedures for the sale of currency «dollar» to control on dollar cash flow, also pointed out that the central focus on the topic of financial inclusion for the positive role in the economic life,
referring to the quest to develop the financial sector and small and medium-sized projects that we will have an integrated legal framework,
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Nice work Holly
rcookie says( as well as work to stimulate Islamic banking field , which is expanding in Iraq. He said the establishment of guarantee deposits in the banking institution, as we are now close to passing a law it will pass in the House, pointing to the continuing efforts to develop a universal banking system ,
which represents a significant shift for the work of the central bank. That there was extensive discussion by the participants on the strategic challenges and implementation mechanisms, also answered questions Keywords on banks regarding strategy.
_firefly_ says to rcookie( (y)
rcookie says( 29. The CBI will continue to implement reform measures to enhance the stability of the banking sector in Iraq which includes inter alia:
_firefly_ says to rcookie( Why is the finance minister making decisions for the CBI !!!!!!!
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Where does the CBI stand on dinar/$ auctions?
rcookie says( Introducing the international bank account number (IBAN) system in Iraq;
Increasing the capital requirement of banks to ID 250 billion ($214 million), a level to which allprivate banks except one have increased their capital;
Contracting a consultant to assist the CBI in rating banks, whereby they rated 17 banks: threebanks were rated “satisfactory”, eight banks rated “fair” and six banks “marginal”;
Contacting a consultant to assist the CBI in upgrading the prudential regulations on “Liquidity” and “Capital Adequacy Ratio”;IRAQ
_firefly_ says to rcookie( CBI is supposed to be a seperate entity from the government
jarhead says( tels me they want to get rid of keywords 😀
jarhead says( tells
_firefly_ says to rcookie( Interesting …………..
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( Dinar Tier 1 capital who cares?
rcookie says( Working on reviewing and assessing CBI prudential regulations with the assistance of the IMF Middle East Technical Assistance Center (METAC);P
reparing a Deposit Insurance Scheme which stipulates the establishment of a corporation to be licensed by the CBI, of which banks will have the opportunity to take a share in the capital;
rcookie says( Contracting a private firm to provide the CBI with a credit registry system for sharing information among banks on their common existing and potential borrowers;
Holly1 says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( IMO.. only… cause what is said on the other side …. looking for 50 and higher in oil.and is expecting this in the second half… recall they also said a couple weeks ago the currency will be the strongest in the world …. IMO…. 3PLUS WHEN THEY ROCK THIS OUT … ONLY MY OPINION
rcookie says( Issuing a banking law for financial institutions offering Islamic services; and
rcookie says( Penalizing financially and administratively banks and non-banks financial institutions for anynon-compliance with laws and regulations in force.
rcookie says( THOSE ARE DIRECTLY FROM IMF LOI…..LOOK FAMILIAR?…….
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to Holly1( I think that is the natural out come but interesting that the banking sustems integrity is key to everything including WTO so to meet reserve /capital levels they need a currency or securities that have value. Not the case now.
clay01 says( we wont see 50 for oil this year, unless OPEC agrees AND adheres to the agreement to cut production clay01 says( but they wont
Holly1 says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( AND ALSO DOLLAR AND IRAQ DINAR …. MADE A COMMENT I READ A FEW DAYS AGO …
FOR SECURITY REASONS HE CAN NOT SAY MUCH REGARDING EXCHANGE IN SO MANY WORDS …. WHEN HE WAS ASKED ….. 🙂
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to Holly1( Warren Buffet likes the US economy so the totally non consensus view is a commodity rally driven by DEMAND sounds crazy
Holly1 says to clay01( IMO… I THINK WE WILL SEE IT …. 🙂
clay01 says( to much supply this year
jarhead says( agreed cushing OK is flooded and so is houston
clay01 says( I work in this field, a lot of supply out there
jarhead says( same here
clay01 says( everywhere is flooded
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to Holly1( Seems to be but the volitility with compressed moves especially your business with the contango that could help upside pricing.
jarhead says(\ theyve stop building pipelines because theres nowhere to take it
love it 2 says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( he may like it but seems Carl Ichan does not not see a bright future 🙁
Holly1 says to clay01( THEY MAY BE WRONG ON THE OTHER SIDE OF THE WORLD BUT THEY DO EXPECT NOT MY WORDS .. BUT BY THE IRAQIS ..
jarhead says( to da woodshed w ya holly 😀
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to Holly1( Icahns stocks have all been dogs
jarhead says( jk
love it 2 says to jarhead( easy cowboy …(lol)
Holly1 says to clay01( HEY I JUST BRING WHAT I READ AND GIVE IT TO YOU …. (F)
jarhead says( i know sweetie
love it 2 says to Holly1( its all good…beats the funny papers 🙂
jarhead says( amen
clay01 says( l would love to see it back up to 50, cant look for it for a while
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to Holly1( The rating agencies are whimps they will do anything to avoid sub prime AAA ratings so they are starting to get the picture.
rcookie says( HIRING INTERNATIONAL AUDITING STAFF TO EVALUATE BANKS PHYSICAL ASPECTS..
TO PROTECT FINANCIAL SYSTEM….INTERNATIONAL STANDARDS & LEVELS AGAINST MONEY LAUNDERING (INCLUDING AML) THROUGH CONTRACT WITH OFFICE OF INTERNATIONAL SCRUTINY…
TO DEVELOP PROCEDURES FOR SALE OF CURRENCY (DOLLAR)…AND CONTROL DOLLAR CASH FLOW….ALONG WITH ROLE IN DEVELOPING FINANCIAL INCLUSION IN ROLE OF FINANCIAL SECTOR SME’S….
clay01 says( Holly lovve what you bring in, thanks for all you do 🙂
Holly1 says to clay01( TY CLAY01:)
Holly1 says to rcookie( 🙂
Holly1 says to rcookie( HIRING INTERNATIONAL AUDITING STAFF TO EVALUATE BANKS PHYSICAL ASPECTS..TO PROTECT FINANCIAL SYSTEM….
INTERNATIONAL STANDARDS & LEVELS AGAINST MONEY LAUNDERING (INCLUDING AML) THROUGH CONTRACT WITH OFFICE OF INTERNATIONAL SCRUTINY…
TO DEVELOP PROCEDURES FOR SALE OF CURRENCY (DOLLAR)…AND CONTROL DOLLAR CASH FLOW….ALONG WITH ROLE IN DEVELOPING FINANCIAL INCLUSION IN ROLE OF FINANCIAL SECTOR SME’S….
Holly1 says to rcookie( (v)
rcookie says to Holly1( ROCKIN HOLLY!!!!
jeffusa says to Holly1( there is an echo in chat?
Holly1 says to jeffusa( AND THAT NEEDS TO BE HEARD (y)
Holly1 says to jeffusa( HIRING INTERNATIONAL AUDITING STAFF TO EVALUATE BANKS PHYSICAL ASPECTS..TO PROTECT FINANCIAL SYSTEM….
INTERNATIONAL STANDARDS & LEVELS AGAINST MONEY LAUNDERING (INCLUDING AML) THROUGH CONTRACT WITH OFFICE OF INTERNATIONAL SCRUTINY…
TO DEVELOP PROCEDURES FOR SALE OF CURRENCY (DOLLAR)…AND CONTROL DOLLAR CASH FLOW….ALONG WITH ROLE IN DEVELOPING FINANCIAL INCLUSION IN ROLE OF FINANCIAL SECTOR SME’S….
Holly1 says to jeffusa( (lol)
love it 2 says to jarhead( have a great day 🙂
jeffusa says to Holly1( my 41st wedding anniversary is Tuesday… can you and Rcookie make this happen?
jeffusa says to Holly1( can’t believe I got married at age 5
rcookie says to Holly1( PROGRAM MONITORING
30. The program will have quarterly reviews and set quarterly quantitative targets on the non-oil primary balance, the stock of net domestic assets of the CBI, official foreign exchange reserves, social spending, and the absence of new external arrears, starting in December 2015 (Table 1).
Each program review will set a few structural benchmarks in areas that are essential for the success of the program (Table 2 contains the list for the first review). The first review should be completed by end- May 2016.
The government intends to demonstrate good performance under this Staff-Monitored Program to move to a possible IMF financing arrangement as soon as possible.
Holly1 says to jeffusa( I WISH BUT HAVE NO CONTROL … YOU WANT THE CBI PHONE NUMBER ,,, 😀
jeffusa says to Holly1( they won’t take my call
Holly1 says to jeffusa( I KNOW THEY STILL HAVE ME ON HOLD AFTER TWO YEARS 😀
rcookie says to Holly1( Attachment II. Technical Memorandum of Understanding
1. This memorandum defines the quantitative targets for the economic program of the Iraqi authorities during the period November 10, 2015–December 31, 2016 under the Staff-Monitored Program (SMP).
These indicators, presented in Table 1 of the Memorandum of Economic and Financial Policies (MEFP) attached to the Letter of Intent dated December 22, 2015 reflect the understandings reached between the Iraqi authorities and the staff of the IMF.
It also specifies the periodicity and deadlines for transmission of data to the staff of the IMF for monitoring purposes.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie( rcookie all central banks hold many different currencies and trade to balance their positions.
Why the ongoing focus on just the dollar . What this is saying is that they hired auditors to bring currency trading up to world class specs. So I am still in the dark on $ dependancy status of current auction format and the degree to which a dinar that has appriate value repairs the economy and financial system
Holly1 says( Attachment II. Technical Memorandum of Understanding
1. This memorandum defines the quantitative targets for the economic program of the Iraqi authorities during the period November 10, 2015–December 31, 2016 under the Staff-Monitored Program (SMP).
These indicators, presented in Table 1 of the Memorandum of Economic and Financial Policies (MEFP) attached to the Letter of Intent dated December 22, 2015 reflect the understandings reached between the Iraqi authorities and the staff of the IMF.
It also specifies the periodicity and deadlines for transmission of data to the staff of the IMF for monitoring purposes.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie( Nice attachment.
love it 2 says to Holly1( i asked this to them ……. **** **** **** **** **** **** ****
rcookie says to Holly1( A. Quantitative Targets
2 The quantitative targets are the following:
1. a floor on the stock of gross international reserves of the Central Bank of Iraq (CBI);
Holly1 says( SO IF THE DINAR STAYS AT 1182… SAY A PORK CHOP GOES UP 1.50 … WELL FROM THEM THEY SAY THEY CANT BUY PORK CHOPS …. THEY DONT EAT PORK CHOPS MY WORDS 😀
rcookie says to Holly1( 2 a ceiling on net domestic assets of the CBI;
3 a floor on the central government non-oil primary balance;
Holly1 says to love it 2( PLEASE TRANSLATE 😀
love it 2 says to Holly1( just asked when this might happen 😀
Holly1 says to rcookie( (F)
Holly1 says to love it 2( 2ND HALF 🙂
love it 2 says to Holly1( awaiting their response…we got are pretty close….our “carpets” match (lol)
da58 says to rcookie( thanks for all the posts! man.. and mr white!
rcookie says to Holly1( 4 a floor on the central government social spending;
5 a continuous ceiling on new external payments arrears on any existing, rescheduled and new debt of the central government and/or the CBI.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says( The IMF MOU and quarterly reviews are or have to be benchmarked to financial targets post RV otherwise they are still running with their legs tied together
Holly1 says to da58( I AGREE THEY ARE SO AWESOME ….. AND PLEASE KEEP BGG IN PRAYER …. (F)
Holly1 says to da58( THAT WAS FOR EVERYONE 🙂
love it 2 says to Holly1( whats up with BGG needing prayer ?
Holly1 says to love it 2( FOR HIS HEALING AFTER SURGERY (F)
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( AGREED…OTHERWISE WHAT WOULD BE THE POINT…..
love it 2 says to Holly1( man i gotta get in here more often …:D
love it 2 says to Holly1( well prayers going up then ….hope all goes well and he heals fast 🙂
Holly1 says to love it 2( AMEN…..
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( THERE REVIEW PSRIODICITY TO DATE HAS BEEN FOR TECHNICAL ASSISTANCE PROGRAM COMPLIANCE AND ASSURANCE THEY ARE ON PROGRAM….
Holly1 says( BE BACK ….(F)
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( PERIODICITY*
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie( Thanks for all the confirmatory info. This site is a phenomenon . Think about it you guys are twenty light years ahead of the “global media” on a huge geopolitical event that coukd have huge positive consequences for the worlds economies. It’s (this collaboration blog) incredible
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( 5. Gross international reserves (GIR) of the CBI are claims of the CBI on nonresidents that are controlled by the CBI, denominated in foreign convertible currencies, and are immediately and unconditionally available to the CBI for meeting balance of payments needs or for intervention in foreign exchange markets, and are not earmarked by the CBI for meeting specific
Holly1 says to rcookie( TY …. YOU ARE LIKE DOLLAR AND IRAQ DINAR ON HIS SITE HE TEACHES ABOUT THE NEW WHAT IS TO COME …. HERE YOU ALSO TEACH… TYVM…. (F)
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( payments. They include CBI holdings of monetary gold, SDR holdings, Iraq’s reserve position in the IMF, foreign currency cash, holdings of non-resident equity and debt securities, and deposits in foreign currency abroad, including foreign exchange account of the government (300/600).
Excluded from reserve assets are any assets that are pledged, collateralized, or otherwise encumbered; claims on residents; precious metals other than monetary gold; assets in nonconvertible currencies; illiquid assets; and claims on foreign exchange arising from derivatives in foreign currencies vis-à-vis domestic currency (such as futures, forwards, swaps, and options).
For program monitoring purposes, the stock of foreign assets of the CBI shall be valued at program exchange rates (¶3).
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]( (y)
tman23 says( November 2015….The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed in a press statement…………
he stressed that Iraq will return to economic market during the first half of next year. ……..SO……Who is this DIRECTOR who made the statement ?? On the IMF website, updated and current as of Feb 28th 2016,
Hazem Beblawi is the Executive Director and, Sami Geadah is the alternate for the region……. https://www.imf.org/external/np/sec/memdir/eds.aspx
So unless the statement can be confirmed coming from a EXECUTIVE DIRECTOR …..as Legarde said;, it then may be the opinion of underlying directors and staff ONLY !! And the official decision of the Board of Directors……..
tman23 says( And NOT the official decision of the Board of Directors…….. Which is the one that counts !!
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie( Thanks thats the clarity i was looking for your amazing was this from the
jcav says( I sure hope the attack in bahgdad by ISIS won’t slow down an RV too much.
rcookie says( WOW….TALK ABOUT STRETCHING TO FIT A NARRATIVE….LOL…
RickeyT says to jcav( hahahahahaha lollollollollol hahahahahahaha…………….
Geofitness says( Cookie, do you believe Tman’s point is moot?
Geofitness says( Moot due to all of the puzzle pieces that seem to point to and align with the statements above
jeffusa says( Suicide bombers and gunmen attacked Iraqi army and police posts on the western outskirts of Baghdad on Sunday, killing at least 12 security forces and seizing positions in a grain silo and a cemetery, officials said.
The largest assault near the capital in months was still raging, said security officials who blamed Islamic State. A news agency that supports Islamic State said the group had launched a “wide attack” in Abu Ghraib.
Suicide bombers in vehicles and on foot attacked government positions 25 km (15 miles) from the center of Baghdad and next to the international airport, government officials said.
Dozens of militants driving Humvees and pickup trucks fixed with machine guns attacked from the nearby Islamic State-controlled areas of Garma and Falluja, army and police sources added.
The Amaq news agency said Iraqi forces had been forced to retreat from several locations.
jeffusa says( But the Iraqi security sources said the militants had been forced out of a police station and several army positions and had dug in at the cemetery and the silo, part of which was set on fire.
A military statement said at least four suicide attackers were killed around the silo, with another 20 militants holed up inside.
rcookie says to Geofitness( WONT DIGNIFY WITH A COMMENT…SPEAKS FOR ITSELF….
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie( First half of next year sounds great aft`er the world has passed Iraq by. Absurd. There is so much cash sitting around the world looking for a place to go to generat`e any income return.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie( Thanks again
rcookie says( AGREED…TIMING…..
thomas1 says( GOOD MORNING IS BGG DOING OK ALONE WITH POPPY ?
wmawhite says to tman23( Read for yourself………The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed
wmawhite says to tman23( Listen real close………it is NOT a decision of the IMF…..it is an expectation………and the IMF knows Iraq better than you and better than Iraq does.
rcookie wmawhite: AND I AM SURE IT IS COMMON PRACTICE OF ONE OF THE MOST IMPORTANT & INFLUENTIAL FINANCIAL ORGANIZATIONS ON THE PLANET
…WHO MEET SEVERAL TIMES PER WEEK…
TO HAVE THEIR BOARD MEMBERS OUT MAKING ROGUE..OUTLANDISH COMMENTARY ABOUT STATUS & POLICIES TGAT RUN CUNTR INTUITIVE TO THEIR ACTUAL POLICIES….. HMMM HOW CONSPIRITORIAL….ROFL…
rcookie wmawhite: COUNTER*
tman23 wmawhite: I Understand…….. Just researching…… http://www.weforum.org/people/masood-ahmed …….. Director, External Relations
Department, IMF; since November 2008, current position.. And I was under the impression this was a statement made by Legarde…….
wmawhite rcookie: Oh my gosh, Charlie Brown!!!!!!
Dr Dave: I hear Donald has boat load of dinar
rcookie wmawhite: OR THE GURU WHO IS LYING LOW BECAUSE HE WAS ASKED NOT TO SPEAK
rcookie: NO..NOTHING NEGATIVE OR SYNICAL THERE….ROFL
rcookie says to Dr Dave( OPINIONS NOT BASED ON FACT….BIG DIFERENCE
Dr Dave says( …but the IRAQIS do not know fact from fiction
rcookie says to Dr Dave( NEGATIVE PRESUMPTIVE INFERENCE…
Dr Dave says oops ….SORRY
rcookie says to Dr Dave NO BUT WE DO…THE ABILITY TO APPYE REASON & LOGIC AND USE OUR THUMBS….
Dr Dave says The IRAQI GOI are wonderful caring people……
Dr Dave says that work diligently to provide the needs of the people
Dr Dave says Have yet to hear much on Sadr’s tea party in the Green Zone
rcookie says IRAQ’S PARLIAMENT PLANS TO APPROVE THE FINANCIAL COURT ACT
February 28, 2016 BAGHDAD / IBN Committee announced its economy and investment representative, for the determination of Parliament approve the financial Court Act, which puts Iraq under the international standards, which help him to recover all his money contraband.
A member of the committee MP Ahmed Salim in a press statement that the invitation to the President of the House of Representatives to approve the Financial Court Act, it means that the law will be on the parliament’s agenda in the coming period is to be read and then passed.
He added that this law will be through the establishment of special financial court, which will make Iraq as part of the Great State and subject to international standards, which will help him to recover his money contraband and reduce money laundering and financial corruption
http://translate.google.com/translat….faceiraq.com/ bad link
Read More :http://www.dinarupdates.com/showthread.php?3 bad link
Woodywoodpecker says dang, i went to sleep and nearly fell off this limb
Dr Dave says is it because they never had this act that they were unable to recoup looted funds previously?
Dr Dave says And then Vote….YEESH
Dr Dave says RC….. I need a slap
rcookie says IF YOU WERE A CORRUPT LEGISLATOR OR JUDICIAL..HOW MOTIVATED ARE YOU TO PASS ENFORCE AND P[ROSECUTE LAWS THAT WILL EXPOSE..END..AND INCARCERATE YOUR INVOLVEMENT IN THOSE ACTIVITITES….
Dr Dave says hehe
rcookie says OBSTRUCTIONIST….PERSONIFIED….SAME PRINCIPAL TO WHO IS FIGHTING TO KEEP THE AUCTIONS GOING…..
rcookie says PRINCIPLE*
Dr Dave says SADR SADR…he is our man…if he cant do it no one can
Dr Dave says SADR’s recent photos…..was he actually grinning??
rcookie says JABOURI SAYS ABADI MEETING WITH HEADS OF BLOCS (BLOC HEADS)NEXT WEEK TO FORM TECHNOCRATIC GOVERNMENT…
da58 says to Dr Dave (lol)
rcookie says to Dr Dave HE ALWAYS LOOKS SALTY…LIKE HES GOT A PERMANENT WEDGY!!!
LLN65 says to Loopback Hey BGG!! Hope you are recuperating well!! (F)
da58 says to rcookie sure does!!
Dr Dave says I thought he looked at least content…somethings up
Read More: http://www.dinarupdates.com/showthread.php?30805-Sunday-February-28-2016
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