Donnie: Presently in Iraq, the government does not have an official Iraqi dinar to dollar exchange rate, or a currency basket. The $3.3 exchange rate is no longer used for any currency, although it has not been officially canceled.
Accordingly, in light of the limited foreign currency resources and difficulty to go beyond oil resources, it is imperative that the state manages the current exchange rate through the development of a foreign exchange budget by the Central Bank, which will determine the allocation of imported goods, services and transfers without charges.
This way, it is possible to maintain the current exchange rate’s stability and to limit expenditures in foreign currency to the available resources until the circumstances are favorable for monetary reform and the adoption of an appropriate official exchange rate. Read more: www.al-monitor.com/pulse/…
BOBBY: That last sentence of Donnies post says it all
Doug_W: This way, it is possible to maintain the current exchange rate’s stability and to limit expenditures in foreign currency to the available resources until the circumstances are favorable for monetary reform and the adoption of an appropriate official exchange rate.
chattels: Report: Kurdistan region will need $300m to rebuild from ISIS war By HEVIDAR AHMED ERBIL, Kurdistan Region – Reconstruction after the war with the Islamic State group (ISIS) will cost the Kurdistan region an estimated $300 million – excluding the devastation in Shingal – according to a new official report.
Much of the destruction in the Kurdish areas, from a war that began after ISIS attacked Erbil in August 2014, is in Nineveh province, according to the report released last week by the Kurdish Ministry of Housing and Reconstruction.
In Nineveh alone – which houses both Shingal and the ISIS stronghold of Mosul – the estimated damage from the war to public and private property has totaled some 254 billion dinars (about $204 million), according to the report. The total cost of reconstruction in the Kurdish areas is estimated at 419 billion Iraqi dinars (about $300 million).
chattels: “The cost will rise dramatically when we complete our estimate of the damages caused by the war in Shingal,” said housing and reconstruction minister, Darbaz Kosrat.
Donnie: ‹@chattels› TYVM
chattels: World Obama says ISIS being hit ‘harder than ever’; Carter arriving in Iraq By 2 hours ago Barack Obama. Photo: AFP. Barack Obama. Photo: AFP. WASHINGTON – US President Barack Obama said Monday he is sending his defense secretary to Iraq to review with war with the Islamic State group (ISIS), as he confessed, “this continues to be a difficult fight.”
Speaking at the Pentagon after a high-level meeting with top US military officials, Obama said that Defense Secretary Ash Carter would head to Iraq immediately. “We are hitting ISIL harder than ever,” Obama said, using another name for ISIS. chattels: rudaw.net/english/world/1… http://rudaw.net/english/world/141220151
chattels: “This continues to be a difficult fight,” Obama said.
chattels: This from the man who initially referred to DAESH as the ” junior varsity “.
chattels: ‹@Donnie› The subject of areas liberated from DAESH and percentages came up the other day – here is the latest :
chattels: US President: Daash lost ground and lost 40% of its regions in Iraqwww.alliraqnews.com/modul. http://www.alliraqnews.com/modules/news/article.php?storyid=24127
chattels: Turkey: Iraq is unable to protect its borders may send troops to other locations : www.alliraqnews.com/modul…http://www.alliraqnews.com/modules/news/article.php?storyid=24129
chattels: Exodus of the components of gray Daash :: 2015/12/14 20:42 • [-Anbar where] head of the Anbar province Krhot morning revealed Monday, a mass escape of terrorist elements Daash of gray occurs.
He Krhot in a statement that “terrorists Daash have a collective escape across the Euphrates River by boat and swim, attributing the reason for their flight to the refraction of the terrorist organization in the city.”
This continues the joint forces in cooperation with the international coalition aircraft and aviation army military operations against al-Daash terrorist in the vicinity of the city of Ramadi Alonbar. wealthwatch.world/showthr…http://wealthwatch.world/showthread.php?tid=3303
chattels: Ben Van Heuvelen @berendvh 2h2 hours ago NOC assassination “a clear death message… that the corrupted people can do anything against any official.” www.iraqoilreport.com/new…
rocknrollbus: Hey……………..Chattman!! U still here?
Winnerdinar: Thanks for your thoughts on the news chattels I really appreciate your propective
Winnerdinar: ‹@chattels› I don’t come here often anymore due to other commitments but I do keep an eye on your stuff usually on recaps
chattels: ‹@Winnerdinar› recaps has a lot of the chat postings
Winnerdinar: yes it does and it helps to stay in the loop thanks to brilliant people like yourself, sczin11 OOTW and butilfrrm
OOTW: THANKS WINNERDINAR! WE MISS YOU
OOTW: HERE’S THIS FROM OUR FORUM OOTW: 9. use of the institutions of international scrutiny and control away from the political parties in order to detect corrupt files and organize exchange operations expenses and the awarding of contracts in a transparent manner.
10. re-evaluation of the Iraqi dinar: The central bank spent $ 5 billion a month in defense of the exchange rate (123 000 versus $ 100) This means with a reserve of 50 billion by the steadfastness of the dinar against the dollar will continue to be at best to the middle of next year.
Especially with the scarcity of oil revenues, and they went to the oil companies operating in Iraq and finance the purchase of heavy and light weapons and aircraft operations. What makes it imperative for the government re-evaluation of the Iraqi dinar is reasonable and the fight against financial and political corruption that is going on the auction of foreign currency for years.
11. reform of the banking system and enact deterrent laws to reform the banking system in the country and conversion of private banks to bridges for development and funding is not the offices of money laundering and the smuggling of the dollar.
12. economic dimensions of the upper positions in the country from quotas and favoritism notably the Iraqi Central Bank and Ministry of Finance and the Ministry of Planning and the High Authority for Investment, and that it could not be at the ministerial level there is nothing wrong to be on the level of general directors and advisers.
OOTW: SORRY, I WILL POST ONE POINT AT A TIME
Winnerdinar: re-evaluation of the Iraqi dinar
Winnerdinar: that’s what I am interested in lol
OOTW: HERE IS THE THREAD TITLE “THE IRAQI ECONOMY – TWO PERSPECTIVES – VERY INTERESTING”
OOTW: HERE ARE SOME MAJOR POINTS FROM THIS ARTICLE
OOTW: 7. not to engage in international loan programs Most of the experiences of developing countries were not in borrowing encouraging and ended in the end to the debt restructuring and the sale of public sector and national wealth to foreign companies, and believes that there is a conspiracy to seize Iraqi oil by giant companies, especially after they have suffered from difficulty with the Iraqi negotiator.
So be careful of international borrowing and the benefits high for fear of falling into the trap of debt.
OOTW: 8. Develop a fair tax system aimed at heavy tax bases only with the application of a customs tax system affects all luxury goods and luxury cars. With the development of material in the new budget law obliges the province to implement the tax laws in force in exchange for the receipt of the region’s share of the budget.
OOTW: 9. use of the institutions of international scrutiny and control away from the political parties in order to detect corrupt files and organize exchange operations expenses and the awarding of contracts in a transparent manner.
OOTW: 10. re-evaluation of the Iraqi dinar: The central bank spent $ 5 billion a month in defense of the exchange rate (123 000 versus $ 100) This means with a reserve of 50 billion by the steadfastness of the dinar against the dollar will continue to be at best to the middle of next year.
Especially with the scarcity of oil revenues, and they went to the oil companies operating in Iraq and finance the purchase of heavy and light weapons and aircraft operations.
What makes it imperative for the government re-evaluation of the Iraqi dinar is reasonable and the fight against financial and political corruption that is going on the auction of foreign currency for years.
OOTW: ***HERE IS A THREAD WHICH CORRELATES TO POINT TEN
OOTW: THE CBI IS TRYING TO ADDRESS CORRUPTION THROUGH THE AUCTIONS
OOTW: THE REPORT CONTINUES TO STATE……….
OOTW: THERE’S MUCH MORE TO READ IN THIS THREAD – I ENCOURAGE YOU ALL TO DO SO
OOTW: 12. economic dimensions of the upper positions in the country from quotas and favoritism notably the Iraqi Central Bank and Ministry of Finance and the Ministry of Planning and the High Authority for Investment, and that it could not be at the ministerial level there is nothing wrong to be on the level of general directors and advisers.
OOTW: TODAY WE HAD A PRESS RELEASE FROM THE MINISTRY OF FINANCE
OOTW: Finance Minister Receives Director of Standard Bank Jartrd in Iraq Monday, 14 December 2015 [Image: _DSC3914.JPG] Finance Minister Hoshyar Zebari received today December 14 2015, Mr. Andreas Milleteo Director of Standard Bank Jartrd in Iraq and his accompanying delegation.
During the meeting, review of the financial and economic conditions in the global financial markets and the cooperation between the bank and government financial institutions and how to promote Iraqi economic system in the light of developments of the fall in world oil prices and address the fiscal deficit.
OOTW: AGAIN OUR GOVT THREAD HAS STARTED OFF THIS WEEK WITH GREAT ECONOMIC INFO : HERE’S THE LINK : wealthwatch.world/showthr…
Winnerdinar: diversification needed OOTW
OOTW: AGREED WE ALSO NEED TO SEE MORE INVESTMENT AGREEMENTS
Winnerdinar: rare earth minerals, gold agriculture tourism ect ect ect
Winnerdinar: stop depending on oil
rocknrollbus: @Chattels………..Dude!! Can you ‘splain why they don’t just stop the bank auctions?
OOTW: THEYRE WORKING ON ADDRESSING THE CORRUPTION FIRST ROCKNROLLBUS
OOTW: LIQUIDITY IS DOWN BECAUSE PEOPLE ARE HOLDING DINARS IN THEIR HOMES
OOTW: THE CBI WANTS TO FIND A WAY TO GET PEOPLE BACK INTO THE BANKS
THEY’VE SAID THEY PLAN ON ADDRESSING THIS
rocknrollbus: Which is ISIS and McFeces (Maliki), correct?
OOTW: GOING BACK TO LAST SUMMER, THE GOI PUT OUT PRESS RELEASES STATING THAT MANY IRAQI POLITICIANS HAD CORRUPT DEALINGS VIA THE CURRENCY AUCTIONS
OOTW: CERTAINLY, THIS STATE RE THE AUCTIONS TOOK OFF DURING MALIKI’S REGIME
OOTW: IMHO THE CBI HAS TO ADDRESS THIS IN ORDER TO START SHOWING COMPLIANCE TOWARDS IMF POLICIES
rocknrollbus: I can get’em back in the banks………….turn the damned Dinar back on!!! bwaaaaahahahahahahaha
OOTW: IN PART, THEY NEED TO SHOW VISIBLE BANKING PRACTICES AND HOW CAN THEY DO THIS IF THE CBI IS ALLOWING THE PRIVATE BANKS, AND CURRENCY VENDORS TO FACILITATE CORRUPTION THROUGH THE AUCTIONS?
OOTW: SO NOW, THE CBI WANTS TO BE SEEN ADDRESSING CORRUPTION
chattels: ‹@rocknrollbus› It may be that too many influential and corrupted individuals are making money through the auctions
OOTW: THEY’RE DOING THIS (AGAIN, IN PART) THROUGH ANNOUNCEMENTS PUBLICIZED AT THE CBI SITE – TO NAME SPECIFIC BANKS WHICH ARE NOT IN COMPLIANCE WITH THE AUCTION REGULATIONS
OOTW: INDEED CHATTELS
OOTW: ‹@rocknrollbus› ONE STEP AT A TIME
rocknrollbus: I was reading C’s novel on the history of the Dinar, (which was great, btw) and it was stated the Dinar was still leagally?? set at $3.30?
chattels: One recent article stated that DAESH is realizing revenue of 25 million per month through the counterfeiting of invoices through the auction
rocknrollbus: yuuuuup…….read all that.
chattels: Iraq can say that the dinar is worth whatever they want, but it is the world market’s valuation that matters, IMO
rocknrollbus: Soooooo………….wouldn’t it behoove them to turn it back on at around $3?
chattels: ‹@rocknrollbus› Who would accept such a value ?
rocknrollbus: I know they have plenty of assets to back it besides their reserves.
chattels: Until assets are liquidated then they have no value except maybe as collateral for a loan
rocknrollbus: I know the Feasibility Study said around $1.13 – $1.16?
chattels: I am the wrong person to be opining about any of this.
Stash: I will take that on a heart beat
OOTW: THIS JUST IN OOTW: wealthwatch.world/showthr…
OOTW: Tomorrow .. Showing 2016 budget vote
OOTW: THIS FEASIBILITY STUDY GOES BACK MANY YEARS AND POSTED AT THE MINISTRY OF PLANNING SITE
OOTW: THE CRITERIA FOR WHICH THE FEASIBILITY STUDY IS/ARE BASED UPON, ARE NOT THE CURRENT CIRCUMSTANCES
rocknrollbus: so what are they placing a barrel of oil at for the 2016 budget?
OOTW: THEREFORE; I WOULD ADMONISH THAT PEOPLE PERFORM THEIR OWN RESEARCH ON SUCH STATISTICS
OOTW: AND CRITERIA
OOTW: WE SHOULD HAVE ACCESS TO THAT INFORMATION AFTER THEY PASS THE BUDGET
chattels: Supposedly Parliament does not convene until Wednesday, how will a vote be taken tomorrow ?
OOTW: AND WE WILL POST IT HERE AT WEALTHWATCH
chattels: ‹@rocknrollbus› $ 45 I think
OOTW: I POSTED AN ARTICLE FROM ALLIRAQ OVER THE WEEKEND THAT THEY WOULD BE HOLDING A VOTE ON TUESDAY/TOMORROW. HOWEVER, THIS AGENDA IS NOT CURRENTLY POSTED AT THE PARLIAMENT SITE OOTW: http://parliament.iq/#
rocknrollbus: and, besides it costing them $10/barrel, don;t they have to pay something else out of that?
OOTW: THE LAST REPORT I READ STATED THAT REFINEMENT COSTS AVERAGED 1.00
OOTW: BUT THIS IS NOT ALL COSTS
rocknrollbus: Didn’t I read somewhere the oil PTB’s are saying $20/barrel by summer?
chattels: ‹@rocknrollbus› the projections have been all over the map
Winnerdinar: ‹@rocknrollbus› if oil goes that low then that’s more reason for dyversification
Winnerdinar: the middle east nations can no longer depend on oil alone
chattels: Parliament to raise its next Wednesday :: 2015/12/13 16:08 • Parliament to raise its next Wednesday [Baghdad-where] raise the House of Representatives today to its regular Wednesday Almqubl. www.alliraqnews.com/modul…
rocknrollbus: The $3.3 exchange rate is no longer used for any currency, although it has not been officially canceled
rocknrollbus: That’s from ur post C……….was wondering wht they never canceled it?
chattels: ‹@rocknrollbus› perhaps there was / is no need
chattels: we have the new Iraqi dinar anyway
rocknrollbus: Article about oil production costs
rocknrollbus: @C……..that set price was back on the Saddam Dinar?
chattels: ‹@rocknrollbus› yes
chattels: Never Mind $35, The World’s Cheapest Oil Is Already Close to $20 December 14, 2015 — www.bloomberg.com/news/ar…
BOBBY: Chattels. …. the rate posted under Saddam…. was that ever officially acknowledged world wide?
disciple7: XE 1101
chattels: Sadr’s movement and the Kurdistan Alliance underline the need to strengthen political alliances and unify the visions and attitudes, and …………………..
chattels: Maliki discuss with the Patriotic Union of Kurdistan delegation the general situation in the country
chattels: Interesting that the Kurds are discussing alliance with faction opposed to one another
chattels: add …………………………… Jubouri looking with a delegation from the Patriotic Union of Kurdistan security and political situation in the country
Lauren305: ‹@chattels› so Maliki STILL acting as VP? despite being publicly disavowed, and not receiving a salary since August?
chattels: The only news source that refers to him as VP is his own office, but he seems to carry on in some capacity even if unofficial.
chattels: Some reports say he is still being paid, but his security detail seems to have been reduced in size.
chattels: I am still uncertain what the Iraqi supreme court ruling means.
chattels: Majida al-Tamimi: the families of martyrs will be given distinct pieces of land Monetary ..oard budget to a vote next Wednesday instead
chattels: indicating that ” next year’s budget will be submitted to a vote next Wednesday.”
chattels: The House of Representatives ended its discussion of the budget next year in 22 of the last month to be voted on during the next few days and before the end of the first legislative term.
chattels: We shall see. chattels: wealthwatch.world/showthr…
chattels: Deputy for the rule of law confirms that the defense minister was aware of the presence of Turkish troops by the same ministry sources chattels: wealthwatch.world/showthr…
chattels: REMEMBER THAT AL-OBEDI IS A SUNNI. I SEE REPORTS SUCH AS THESE AS AN EFFORT BY SHIA / BADR TO DISCREDIT HIM. AMERI IS ONE OF THEM AND THEIR PREFERRED CHOICE FOR DEFENSE MINISTER. POLITICS !
chattels: To / all licensed banks and money transfer companies and exchange companies (stop processing the dollar) 12/14/2015 www.cbi.iq/documents/Anno…
chattels: TRANSLATION – You wanted a translation on that pdf on the cbi announcement.. here it is – and it’s referring to the corrupt ones only: The Central Bank conveys its warmest regards to you.
It has been resolved that the brokerage companies for the sale and purchase of foreign currency whose names are included below are suspended from being supplied foreign currency (dollars) whether directly or indirectly and they must not be dealt with in any manner whatsoever until further notice. Kind Regards, ………………..
chattels: Companies: Baba Kirkir Brokerage Company for the Sale and Purchase of Foreign Currency Tadmur Brokerage Company for the Sale and Purchase of Foreign Currency Al Mumtaz Brokerage Company for the Sale and Purchase of Foreign Currency Kirkuk Brokerage Company for the Sale and Purchase of Foreign Currency
chattels: ” ……………. it’s referring to the corrupt ones only …………… ”
chattels: Saudi Arabia constitute “an Islamic military alliance” to fight terrorism in Iraq and Syria :: 2015/12/15 7:51 • [Follow-up – where] a joint statement carried by the Saudi Press Agency said that Saudi Arabia on Tuesday announced the formation of an Islamic military alliance of 34 countries to fight terrorism.
The statement said “States contained decided named in this statement the formation of a military alliance to fight terrorism led by Saudi Arabia and is in the city of Riyadh establishment of joint operations for the coordination and support of military operations to fight terrorism center and to develop programs to support those efforts and mechanisms.”
The statement list of Arab countries such as Egypt, Qatar and the UAE United Arab as well as Islamic countries such as Turkey, Malaysia, Pakistan, Gulf and African countries.
chattels: wealthwatch.world/showthr… http://wealthwatch.world/showthread.php?tid=3306
chattels: A member of the parliamentary Finance: pass the budget tomorrow and the deduction of salaries provides 1.5 trillion dinars :: 2015/12/15 8:05 • [Baghdad-where] most likely in the parliamentary finance committee member, the House vote in its meeting scheduled on Wednesday on the draft 2016 budget law.
Said Hossam punitive told all of Iraq [where] that “the budget may pass in tomorrow’s meeting after the agreement on most of the material,” adding that “there withholding is held will obtain all state employees and their allowances salaries as well as retirees by 3% to be 60% of this deduction to rally public and 40 % for the displaced. chattels: wealthwatch.world/showthr…
chattels: It is difficult to determine whether the vote being referenced is in the committee meeting or the Parliament. My belief is that it is the former.
chattels: Thread Modes Monday, December 14, 2015 – Security In Iraq, Dec. 1-7, 2015
chattels: Casualties are no longer a reliable measure for violence in Iraq because the authorities are censoring so much. That being said attacks have been going down consistently since the start of the year so the number of dead and wounded is declining as well.
chattels: The Ramadi operation entered its fifth month. There was continued progress into the downtown area with the usual government obfuscation.
chattels: Baghdad continued to be the main target of IS terrorist attacks. wealthwatch.world/showthr…
chattels: Michael Knights @Mikeknightsiraq 14h14 hours ago Pretty clear signal here to Baghdad to keep their nose out of Kirkuk oil business mobile.reuters.com/articl… …