Militiaman: Now this is so very interesting as they are telling the citizens don’t get caught counterfeiting coins.. lol They don’t have any yet, but, boy are they going to! Once they reinstate that fine is massive. imo.. ~ The main point is they are talking coins!! ~ MM
Don961: A fine of 50 million and imprisonment for a person who hires or starts to prepare for false money
Sunday 24 March
Alsumaria News / Baghdad
put the Iraqi Central Bank law , judgments of the person who coined or prescribed to prepare counterfeit money Mint a fine of 50 million dinars and imprisonment.
Article 50 (Preparation) stipulates that anyone who hires or initiates the preparation of false money for committing a felony punishable by law shall be liable to pay a fine not exceeding 50 million dinars or Imprisonment for a term not exceeding 5 years or both.
According to the Central Bank, Article 51 (possession) of the law considered that any person who intentionally knowingly cheats (buy, accept or offer to buy, accept or possess, acquire, acquire into Iraq ) counterfeit money committing a felony punishable by law to pay a fine not exceeding 50 million dinars or imprisonment for a period not exceeding 5 years or both.
Article 52 (Promotion of counterfeit money) of the Act, paragraph (1), is that any person intentionally knowingly cheating (the promotion of counterfeit money or his willingness to promote counterfeit money or to use it as an original money, export, send or accept counterfeit money outside Iraq) The perpetrator of a felony punishable by law shall be liable to a fine not exceeding 100 million dinars or imprisonment for a period not exceeding 10 years or both.
Article 53 (token money and coin-like coins) provides that any person who knowingly knows (manufacturing, producing, selling or possessing) any object intended to be used for fraud acts in lieu of coins or coins designed to Shall be guilty of a felony punishable by a fine of not more than (25) million dinars or imprisonment for a period not exceeding two years or both. link
Ol_Lar: On MONDAY, March 25,1991 Kuwait Revalued their currency from 0.05 usd to 3.47 usd, Tomorrow is MONDAY March 25, 2019, let’s hope Iraq will continue with this tradition.
Don961: Iraq is about to announce the state of alert (c) in the coming hours
2019 – 03-24
The General Secretariat of the Council of Ministers, the civil crisis management unit, warned on Sunday of a major wave of floods that could hit Iraq’s provinces in the coming days
According to a secret letter sent to the concerned authorities by the General Secretariat of the Council of Ministers on March 24, 2019, according to the indicators announced by the General Director of the General Authority for Dams and Reservoirs in the Ministry of Water Resources, the latter warned of the expected rain wave in the coming days, From the province of Diyala and down to the provinces of Wasit and Maysan and the provinces (Kirkuk – Salah al-Din – Nineveh – Erbil – Sulaymaniyah – Dohuk – Baghdad)
The Director-General of the General Authority for Dams and Reservoirs said that the rain wave will be severe and result in large floods and is likely to announce the state of warning (c) for the intensity of rain
In the meantime, announced the list of the district of Kalar district of Karamian, on Sunday, the disruption of official time in schools located in the areas and villages of its in anticipation of the floods and torrents that are expected to see the region tonight and tomorrow Monday link
Samson: Bretton Woods turns off his 75th candle
24th March, 2019
Rio de Janeiro – The 1944 Bretton Woods Conference established a multilateral framework for international cooperation on macroeconomic stability, trade and development. The frame-apart from the two-time interference and alterations-lasted for 75 years. We should celebrate and praise these achievements. While this global economic governance system is under pressure, the Bretton Woods institutions, as well as recently established regional and international forums, will continue to play a long-term objective role.
At the macro level, the Bretton Woods agreement was based on fixed but adaptable exchange rates and was based on the recently established IMF to monitor the stability of national policies and provide financial support to countries facing external shocks. The new World Bank (called the World Bank for Reconstruction and Development) provided support and advice on long-term development and reconstruction projects.
Another post-war institution – the General Agreement on Tariffs and Trade – expanded and re-established into the World Trade Organization in 1995 – provided a framework for promoting free trade, based on multilateral laws and mechanisms in conflict.
These global arrangements have provided considerable room for various national and regional policies, as long as policies have not achieved a cyclical balance of payments and inflationary crises. Successful countries have been able to raise more capital, especially human capital, and build institutions that have made their profits last longer. At many levels, the national strategies that gave fruit were bets of convergence – that is, they were aimed at narrowing the production gap between the more advanced economies.
In parallel with economic progress, many commentators saw clear signs of a political trend towards more liberal democratic regimes that led to the fall of the Berlin Wall and the collapse of the Soviet Union. American political scientist Francis Fukuyama summed up this novel with his famous “End of History.”
Over time, Bretton Woods faced many challenges and crises. The transition from a clear exchange rate to a more flexible currency system in the early 1970s was the end of the original post-war monetary framework, but the targeting of formal and informal inflation re-established the system later.
True, many developed countries have suffered inflation and balance-of-payments problems, which have gone beyond those of more mature economies, but efforts to restructure their international debt and cope with rising inflation or hyperinflation have been somewhat successful. The World Bank and the regional development banks have adapted to a world that needs more than ever the capital by playing a more informative and catalytic role in areas such as infrastructure and institution-building.
Apart from slow or nonexistent progress at the WTO level, several multilateral and regional investment and trade arrangements have been developed.
However, today, global economic coordination has become more difficult, if not entirely impossible in some regions. The trade sector, notwithstanding the doubling of regional arrangements, has seen no significant multilateral progress since the Uruguay Round in 1944. With regard to climate change and the environment, a pressing and existential reality – the outcome of the recent negotiations has been limited.
There is still a lack of public services in key areas such as security, migration and global health. Debt continues to rise in many countries, often exceeding levels reached when it approached the global financial crisis in 2008.
Even some of the regional trade achievements of the past quarter century are fragile today, such as the EU single market (if bricet), the recently concluded North American Free Trade Agreement, the Southern Common Market and the Transatlantic Partnership.
Parallel to these economic challenges, there is widespread concern about the inability of most countries to address the negative social implications of the current global development model.
In this context, it is not surprising that the new forums such as Group 7, the Group of 20 and the Financial Stability Committee have to some extent replaced the official Bretton Woods institutions.
This is because decisions made in international institutions are often governed by the force of law. Many countries prefer to meet in forums that make statements that are largely non-binding (a point often referred to by the late Thomas Badaa Schioppa, former member of the ECB Committee and former Italian finance minister) ).
While this evolving arrangement is not as strong as the original Bretton Woods design, it may indicate that the global system of economic governance is flexible and adaptable to changing circumstances. But for larger countries or groups such as the United States, the European Union, China and Japan, the Bretton Woods formal system is no longer essential to macroeconomic stability, trade and the financial sector.
So what can we say about Bretton Woods in a world in transition?
First, given the decline in US control and the weakness of its desire to be the leading economic and financial leader in the world, systematic instability is likely to increase. As the American historian Charles Kinderberger has warned, this is particularly true in the transitional stages when global hegemony is absent. Some signs of what Charles has warned of are evident in trade, regional tensions, rising fiscal leverage, and rising nationalism.
Second, Bretton Woods must now be seen as encompassing not only indigenous institutions but also recent forums and regional arrangements. These synergies of cooperation constitute a real practical solution to current challenges.
Thirdly, we should question whether developed countries will continue to try to converge with more advanced economies and whether they are possible for the large-scale Bretton Woods institutions to remain an important element in serving global progress. My answer is yes to both questions, if one is about the future. Developing countries will try to compete with the Asian and Eastern European successes. Countries would prefer dialogue and cooperation instead of the failure of countries such as Venezuela and North Korea, which chose to break out of the world order.
Finally, this vision, which is threatened by the transition, may be exposed to populist and non-liberal political systems. But history shows that liberal policies and economic policies have undoubtedly made more progress and peace than any other system.
Seventy-five years ago, economic policymakers met in Bretton Woods to create a financial system for the post-war world. Today, their successors can still rely on some of these achievements in designing an economic governance system for the 21st century. LINK
Iggy: Laughing is very good for you, it lowers blood pressure and stress levels, so if you want to keep healthy you should have at least one good laugh a day.
Iggy: A little girl walks into the den one Sunday morning while
her dad is reading the paper.
“Where does poo come from?” she asks.
The father, feeling a little perturbed that his 5 year old
daughter is already asking difficult questions, thinks
for a moment and says:
“Well you know we just ate breakfast?”
“Yes, ” answers the girl.
“Well, the food goes into our tummies and our bodies
take out all the good stuff, and then whatever is left over
comes out of our bottoms when we go to the toilet, and that
The little girl looks shocked, and stares at him with watery
eyes, in stunned silence for a few seconds, and then asks,
Iggy: A sales rep, an administration clerk, and the manager are walking to lunch when they find an antique oil lamp.
They rub it and a Genie comes out…
The Genie says, ‘I’ll give each of you just one wish.’
‘Me first! Me first!’ says the admin clerk. ‘I want to be in the Bahamas, driving a speedboat, without a care in the world.’
Puff! She’s gone.
‘Me next! Me next!’ says the sales rep.
‘I want to be in Hawaii, relaxing on the beach with my personal masseuse, an endless supply of Pina Coladas and the love of my life.’
Puff! He’s gone.
‘OK, you’re up,’ the Genie says to the manager.
The manager says, ‘I want those two back in the office after lunch.’
Moral of the story: Always let your boss have the first say.