Chat Room – Excerpts & Highlights
Larry says(:) The central bank sells $ 135 million in an auction today
Written by : admin in: June 6, 2016 In: Economic No Comments views 64 views
Nur News / Baghdad Central Bank announced on Monday, selling $ 135 million in the auction for the sale of foreign currency, with the participation of 29 banks and 19 financial companies for conversion.
The bank said in a statement, “Nur News” received a copy of it, that “the amount sold by dollar volume, today, reached 135 million, 797 thousand, and $ 524, priced at 1182 dinars exchange rate against the dollar, and with the participation of 29 banks and 19 companies for the fiscal transfer.”
He explained that “the amount of remittances size and count reached 54 million, and 471 thousand, 600 dollars, while the quantity sold in cash 16 million, and 225 thousand dollars,” noting that “the amounts transferred to the accounts of banks selling abroad is priced at 1190 dinars per dollar, and the cash sales price It shall be priced at 1182 dinars per dollar. ”
larrykn says(:) http://translate.google.com/translate?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/
Baxter says():auctions seem to be still awful high… dont they….
Baxter says():up to 29 banks too…
larrykn says to Baxter():I think when they get this ready to go that will all change , I don’t see that as any type of indicator
Baxter says():lets hope…. my son arrived back in Baghdad last wednesday… I begged him not to go back… but his company almost insisted he go back to try and retrain his replacement..he should only be there a couple more weeks… he left Baghdad back in February.. he said yesterday that the food prices.. since when he left in February.. have increased 50% in the markets… lots of unhappy peeps over there…
da58 says():prices increased? likely due to tariffs..
subgirl says():Baxter: I could imagine how the people feel over there in Iraq. Must be very hard…
subgirl says():not…*
larrykn says to da58():that is what I’m thinking
larrykn says to da58():the question is why did they put in traiffs before increasing the dinar buying power
subgirl says to larrykn():good question!
larrykn says to subgirl():that just incease the people problems, not good, you would think they would be trying to help the people
movack says():question does Ramadon start this evening at dust????
clay says to movack():they work through Ramadan
larrykn says to movack():not sure on that one
movack says():understood they work through but just wondered if it starts this evening
david334 says to larrykn():Good morning Larry, that comment from Baxter about the 50% increase in prices in Baghdad was interesting. Could it be the end of the arguement that increasing the value of the dinar would have inflationary consequences.?
movack says):Agreeded and to the enjoyment of the peeps living there to once again be able to enjoy life again
david334 says to larrykn():so they really have no choice but to increase the purchasing power of the
david334 says to larrykn():IQD
larrykn says to david334():I’m not sure about that, the tariffs would have a big affect on the increase of goods, but I don’t know why they did that without an increase in the buying power of the dinar first
movack says():I have to say tho it saddens me to see yet another country be put under the burden of taxation and slavery
david334 says to larrykn():Maybe because the tarrif taxes went to the government and they needed to make sure the collection process was automated and working smoothly?
larrykn says to movack():taxation is a way to help the county make money so they can keep the govenment an country running, slavery I have no idea that was happening in Iraq where did you read that
movack says():taxation is always a form of slavery
larrykn says to david334():all I can say is if they raised the tariffs we shouldn’t be that far behind to see a rate increase
larrykn says to david334():at lease an increase of buying power incounty
david334 says to larrykn():I am hoping (v)
larrykn says to david334():incountry
david334 says to larrykn():Good point does anyone really know where the IQD is valued in country. I am not assuming anything. But th tarrifs got passed through to the consumer pretty fast. No competition there
david334 says to larrykn():Just wait there will be business pourin the create thebmarkets
movack says():in the USA the slow ride down-http://www.investing.com/quotes/us-dollar-index
larrykn says to david334():once they revalue their currency the dinar is still a dinar but what it will buy will be a big difference, out of country I’m praying for a good rate but yet we have to wait and see what that will be
larrykn says to Woodywoodpecker():gm hows the woods this morning
david334 says to movack():A weaker US $ is the only hope for growth and the Yellen can tighten. Consumption by the dweebs account for 60% of GDP and everything here gets more expensive with the relative value of the dollar
movack says():The rate will weigh heavly on what our index is
Woodywoodpecker says():woods are fine……blue skies for a change
david334 says to movack():I agree an increase in the fef funds rate would just drive the $ higher
larrykn says to Woodywoodpecker():glad to here that 🙂
david334 says to movack():ain’t happening
movack says():we will see
david334 says to movack():I am no expert but the bond market doesn’t act like the see a hike. This is the classic chicken egg still eight years latter. Thank you Wall St
da58 says():well tariffs stimulates more ‘Made in Iraq’ – to avoid those higher prices.. but, that doesn’t happen overnight. We’ve seen articles in the past that this is occuring tho – the development of the infastructure bit by bit..
movack says():right now with the index declining and the fruitition of the dinar market – should be some great rates
david334 says to da58():Thats a great point and even foriegn companies will be inclined to manufacture in Iraq.
rcookie says():GM DU…
david334 says to da58():Currencies are so complicated. I would love to drop out and study the whole FX price setting mechanism
david334 says to rcookie():Morning rcookie
larrykn says to rcookie():gm how are you doing this fine day 🙂
david334 says to rcookie():Here come da axe
movack says():I would tend to think in the future currence markets will be less lucritive then they are now
david334 says to movack():({)
movack says():wow bad spelling this morning LOL
rcookie says():WE ARE SEEING THE EVIDENCE STOCKPILE DAILY OF IMPACT OF UST PRESENCE OPERATING FROM US EMBASSY AS ENTIRE BANKING & FINANCIAL INSTITUTION SECTOR IS REGULATED…
rcookie says to larrykn():VERY WELL LARRY…doing great ty 🙂
david334 says to movack():I need more nuerons transplanted
movack says():LOLmovack says):me too
david334 says to movack():not rcookie though maybe he can lend me some
movack says():to think in my younger years I wasted so many
rcookie says to larrykn():Trading on the shares of the company’s fiscal Iraqi convertible suspended as of the session Tuesday,
06/07/2016 AddThis Sharing Buttons June 6, 2016 11:03
According to the decision of the Board of Governors book No. (mm / 74) at the 04/26/2016 suspended from trading on the Iraqi company financial convertible shares as of the session Tuesday, 07/06/2016 pending a license to practice from the Central Bank of Iraq after logging circle authentication companies to the capital increase of 45 billion dinars to 100 billion dinars in accordance with Article (55 / I) of the companies Act, and approval of the transfer of the company’s money transfer to Islamic bank company called international Islamic Bank. For further details please refer to the attached file
http://translate.google.com/translate?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/
david334 says to rcookie():The world has no clue how sophisticated Iraq has become. I love ittttttvalue = clueless market
rcookie says():WHAT THAT ARTICLE POINTS OUT?..
rcookie says():THIS IS IN DIRECT ACTION TO THE OVERSIGHT OF CBI CLOSELY REVIEWING 300 BANKS UNDER SUSPICION OF MONEY LAUNDERING..
SMUGGLING & FRAUD ACTIVITIES WHICH IS WHY THEY ARE DOWN TO 10 BANKS PARTICIPATING IN AUCTIONS…
rcookie says():MANDATING AND NOW EVIDENCE ENFORCEMENT OF 250 BILLION CAP REQUIREMENT…EVEN THOUGH THIS BVANK RAISED THEIR CAP FROM 45 TO 100….
rcookie says():AND DID EVERYONE SEE THE AUCTION UPDATE YESTERDAY….
Woodywoodpecker says():not me
larrykn says to rcookie():why then are they selling 135 million to 29 banks and 19 finincal companys today
rcookie says():THEY HAVE SOLD $800 MILLION LESS IN AUCTION THROUGH MAY THAN THIS POINT LAST YEAR…
clay says to rcookie():hey buddy thanks for the news
rcookie says():WE ARE AWAITING THE ANNOUNCEMENT OF END TO AUCTIONS AND/OR IMPLEMENTATIONS OF ONE OF THE ALTERNATIVES THAT WILL STILL PROVIDE STABILITY OF THE IQD IN THE MARKET…
larrykn says to rcookie():can’t see that being that far off now
rcookie says():The Federal Supreme Court hearing (Archive)
Federal Court determines the eighth of June as the date to consider claims of the sacked minister
Writer: Editor: AZ 06/06/2016 17:37 Number of Views: 21Long-Presse / Baghdad
Identified the Federal Supreme Court, on Monday, the eighth of June current, as the date to consider claims made by ministers sacked by the end of the parliamentary session last April.
The judge said Abdul Sattar Bayrakdar spokesman for the federal judiciary, said in a brief statement received (range Press) copy of it, that “the Federal Supreme Court set a date on 06.08.2016 to consider filed by the ministers dismissed claims in the House of Representatives session held on 26 / 4/2016. ”
subgirl says to jeffusa():have fun 🙂
movack says():yep they loose there amnesty on the 8th
movack says():if I am correct in saying
rcookie says):Cabinet approves electronic forms release mechanisms for loans
An economy Since 2016-06-06 at 13:46 (Baghdad time) Baghdad scales news
The Cabinet decided on Monday to approve electronic forms release mechanisms apply for loans.
She said in a statement received Council Secretariat/balance of news/copy, that “the Cabinet today decided to approve launching mechanisms of electronic forms to apply to industrial, agricultural and residential loans.
He added that “it would be a total of six trillion five hundred billion dinars, distributed on different projects.
He explained that “those small projects include projects aimed at providing job opportunities to young people and graduates and Iraqi women, including working on raising the standard of living of citizens and move the wheel of development.” over 29/34
BobG says():Nice
larrykn says):wow nice
rcookie says():SO THE CABINET HAS APPROVED THE IDMS AND PIM MECHANISMS…
BobG says():As the wheel of development turn, So do the days of our lives……lol
BobG says():I like the work mechanisms
BobG says():sounds like a button
rcookie says():AND SAID THIS YESTERDAY…….WAIT UNTIL YOU SEE HOW FAST THE LARGE AGRICULTURAL LOANS AND PROJECTS ARE PROCESSED ONCE FALLUJAH IS LIBERATED FULLY…
angus says():I thought that one of the art. stated it was completed? did I miss read?
da58 says():Urgent: An informed source revealed the presence of a number of Parliament meeting 14-4 was 129 and the number attending the session was 26.4 179 (details)
06-06-2016 02:20 PM Orbit News – A senior source revealed on Monday that a committee of experts charged by the Federal Court to verify the documents and videos submitted to the court concerning the meeting of the House of Representatives for the day 16-4 and a session on 26-4 has audited the movies and photos provided by the defense points and compare the statements of witnesses.
The source said in a statement to’madar News’, after scrutiny movies and photos provided by the defense points and compare the statements of the witnesses show us that the number of 14-4 attend the meeting was 129 and the number attending 26-4 session was 179 Vice.
http://www.almadarnews.info/index.php?page=article&id=11857
watson1 says to rcookie():cool i think i am going to move over there to grow opium and medicated marijuana..:D
rcookie says():WOW!!!!!….WOW!!!!…CHECK THIS OUT….
movack says():so does that make the 26-4 a lagitimate quorum ???
rcookie says():OOPS SORRY DA..
BobG says():Ready 🙂
da58 says to rcookie():waiting to check out bud!! GO!! (lol)
rcookie says():The Central Bank calls from pushing more than 1200 dinars for a dollar to complain to him
An economy Since 2016-06-06 at 17:11 (BagBaghdad – the balance of news
Called CBI, Tuesday, citizens and merchants who pay more than 1200 dinars for a dollar that they buy it from banks or companies convert to complain to him.
The Central Bank said in a statement received/balance of news, copy, “citizens and merchants who pay more than $ 1200 dinars for a dollar that they purchased from banks or Exchange ausharkat conversion companies in cash or money orders or documentary credits, a complaint to the Central Bank with payment”, stating that he “will pay the difference to the buyer by the Central Bank and taking account of the seller.
The CBI said that it was “a confirmation of directions and instructions for foreign currency exchange rates. over 29/h 33
rcookie says():WOW!!!….TALK ABOUT A WAY TO EXCISE AND ELIMINATE THE PROFITEERS….
rcookie says():IY YOU ARE CHARGED MORE THAN THE OFFICIAL CBI BANK RATE AT ANY AUCTION WINDOW….BRING IN YOUR RECEIPT TO CBI AND THEY WILL ISSUE A REFUND FOR THE OVERCHARGE AND GUESS WHERE THEY WILL BE GOING IMMEDIATELY AFTER………
movack says():OOPS
BobG says():HEHE
BobG says():Now that’s cracking down
rcookie says():SO CITIZENS ACTUALLY BEING GOUGED GET MADE WHOLE AND END UP DOING GROUNDWORK FOR DICOVERY AND INVESTIGATORS PROSECUTING THE AUCTION PROFITEERS…
movack says():absolutely build the confidence in the banking system through over watch
rcookie says():WOW!!!….EVERYBODY WINS INCLUDING THE IRAQ ECONOMY AND STABILITY OF THE IQD IN THE MARKET!!!!!!!!!..
BobG says():And the bad guys go away either by force or by choice
dale says():Rcookie : Great news.
rcookie says():OK ..SO NEXT ONE WHO MAKES THE STATEMENT ABOUT SAME OLE IRAQ SEEN IT ALL BEFORE..BLAH BLAH….GETS DOGPILED!!!….
subgirl says to rcookie():Is that their way of getting people into the bank?
movack says():it would surely get peeps on the stret to be watching
BobG says():I agree lot of new things coming out of Iraq that I have not seen before 🙂 and its all positive
larrykn says to rcookie():thank you for bring us all this great news
da58 says to rcookie():wow – this is brilliant of them – !!
rcookie says to subgirl():THE BANK ACCOUNT INITIATIVE S ANNOUNCED LATE LAST WEEK ARE TO GET THE MATTRESS MONEY…
AND INCREASE CONSUMER CONFIDENCE IN THE BANKING SECTOR AS DEPOSIT INSURANCE IS LAUNCHED AND PEOPLE CAN TAKE ADVANTAGE OF GREAT INTEREST RATES TO GROW THEIR MONEY…
AND THE BANKS CAN USE TO MAKE LOANS..ACTIVATE ECONOMY AND IMPROVE VELOCITY WHICH IS VERY..VERY IMPORTANT..
Baxter says():RCookie…. if there are only 10 banks participating in the auctions… hows come today it says 29 banks…and 135 Million??
movack says():10 banks or corp may have branches I guess
rcookie says to Woodywoodpecker():LICENSED ENTITIES HAVE BRANCHES…
rcookie says to Woodywoodpecker():OOPS..
rcookie says():THIS IS THE UNDERLYING CONSEQUENCE WHENEVER YOU ARE READING OR HEARING OF LIQUIDITY ISSUES…
movack says():u said it more clearly RC
rcookie says():What is the ‘Velocity Of Money’
The velocity of money is the rate at which money is exchanged from one transaction to another, and how much a unit of currency is used in a given period of time. Velocity of money is usually measured as a ratio of GNP to a country’s total supply of money.
Read more: Velocity Of Money Definition | Investopedia
http://www.investopedia.com/terms/v/velocity.asp#ixzz4AoRZl5Ux
rcookie says():BREAKING DOWN ‘Velocity Of Money’
Velocity is important for measuring the rate at which money in circulation is used for purchasing goods and services. This helps investors gauge how robust the economy is, and is a key input in the determination of an economy’s inflation calculation.
Economies that exhibit a higher velocity of money relative to others tend to be further along in the business cycle and should have a higher rate of inflation, all things held constant.
Read more: Velocity Of Money Definition | Investopedia
http://www.investopedia.com/terms/v/velocity.asp#ixzz4AoRjWDP7
NWBeauty says():Another way to increase velocity is to actually IMPORT consumer goods someone would WANT to buy You ever go to a Souq there? NOT much in the way of western goods !!
Read More: http://www.dinarupdates.com/showthread.php?35448-Monday-June-6-2016
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