News With Links & Discussion
Wealthwatch Late Night Early AM Chat 1-8-16
chattels: good evening all
chattels: Economist: Central Bank reserves half depleted during the past two years
chattels: The head of economic research and studies department at the University of Mustansiriya Abdul Rahman al-Mashhadani, Thursday, the central bank drained half the reserves of gold and hard currency during the past two years.
chattels: “And despite the fact that the central bank did not disclose the reserves of hard currency, but all indications and reports that we are following confirm that the reserves of foreign exchange and gold less than (50) billion in the reserves in 2014 (82) billion dollars, a sense that he drained Nearly half of the reserves. ”
chattels: Maliki confirms the importance of continuing cooperation between Iraq and the United Nations in the reconstruction of the displaced files, and the liberated areas and the fight against Daash www.ninanews.com/News_Det…http://www.ninanews.com/News_Details.aspx?pV0UYoMXN6PDxepUDVsdeQ%253d%253d
Tootsie: ‹@OOTW› hogwash for sure. Heck, have to keep the sheeples wound up/confuzzled ~ y’know HCL has been done for years, (sure) national reconciliation, and on and on and on ~~ just plain NONsense~ of course you knew ,posted on 6/27/2013 ~ on june 4th the imf signed documets wth iraq stating that they had 30 days to comply with the fact that they must have only one currency in their country as a usable currency
12:58 PM [xxxx] documents
12:58 PM [DTxxxx] WOW
12:58 PM [xxxx] now that would run out on the 3rd
12:58 PM [D] yes it would
12:58 PM [xxxx] and this is huge for where we are with the events today
12:58 PM [xxxxx] smile
12:58 PM [xxxx] its the dinar ~~ skipped a few lines, then ~ see they will and can have in their reserves many foreign currencies — this is meaning on the streets for payment ect — one national currency ~~ OH, well, ~~~ :sick: :sideways: :silly:
Tootsie: seems to me that the IQD is the national currency ~ per CBI anyway ???
OOTW: absolutely Tootsie and tyvm
rocknrollbus: Do you know if Iran has received their $100 billion yet?
chattels: ‹@rocknrollbus› I do not
chattels: ‹@rocknrollbus› www.npr.org/sections/para…
rocknrollbus: Was just over at the Rubber Room, Smooth got fed up with Iraq not doing anything. Said he was gonna take a break…….
rocknrollbus: ‹@chattels› Art was July
rocknrollbus: Any place to check?
chattels: I googled it and no more current news found
rocknrollbus: HA!! Tell the MoP they’re not going to get paid…….see how fast they pass laws!!
rocknrollbus: Yeah C……..so did I. nuttin’
Doug_W: I sure hope this next post is TRUE
Doug_W: [10:12 AM] wmawhite: Folks,…..this new CBI announcement appears to be straight forward and is in keeping with what they said they would do four weeks ago. At that time the CBI stated that 70% of all of the currency that is out in Iraq was being kept by individual citizens and that they (CBI) had plans to draw that currency into the banks. Well, here it is.
However, what is more amazing is what appears to be the placing of a value upon the individual dinar based upon a world accept value of gold. If the translation is correct the CBI is stating that they are selling 15 and 25 gram coins for 100 IQD and 250 IQD. The current spot price of gold is $1,100 per ounce. 25 grams is .77 oz. .77 of $1,100 is $847. Divide $847 by the 250 IQD and you have an equal value of $3.38 per IQD
lonegunman: We can only hope DOUG!!!
lonegunman: ‹@Doug_W› GM !!
lonegunman: But i am not over excited just yet
Doug_W: when we see it on teh CBI website
lonegunman: ‹@Doug_W› no doubt
Doug_W: so its bogus then “C”?
chattels: ‹@Doug_W› still absorbing a difficult translation
Doug_W: fingers crossed here
chattels: Sounds more like ” magic ” to me
chattels: ‹@Doug_W› Well, ………………….. ????????????????
Doug_W: I agree
chattels: Divide 250 IQD by 720,000 ……….
chattels: Divide $ 847 by 720,000 ……………….
chattels: = 0.0011763888888
chattels: [Baghdad – where] deputy called for the House of Representatives of the National Alliance to laws affecting citizens in the next legislative term legislation. Khalaf said Abdul Samad told all of Iraq [where] “Parliament has to work during the next legislative term to pass all laws related to the lives of citizens.”
He called Abdul Samad political blocs that do not stand in the way of laws mentioned legislation. The Presidency of the Council of Representatives identified the Day Tuesday day on 19 of the month of January this date for the beginning of the second legislative term of the second year of the third parliamentary session.
chattels: ” ……… on 19 of the month of January this date for the beginning of the second legislative term of the second year of the third parliamentary session.”
chattels: ” ………….. to pass all laws related to the lives of citizens.”
chattels: More of the same rhetoric.
chattels: [Karbala – where] the religious authority said, called in Friday sermons three authorities and all responsible parties that take serious steps in the process of real reform and social justice and the fight against corruption and the prosecution of senior corrupt and corrupt, but the elapsed year and nothing has clearly achieved on the ground.
chattels: ” ……………. take serious steps in the process of real reform and social justice and the fight against corruption and the prosecution of senior corrupt and corrupt,……….. ”
chattels: ” …………….. , but the elapsed year and nothing has clearly achieved on the ground. ”
chattels: [Karbala-where] criticized the supreme religious authority, delayed the application of political, administrative and economic reforms in the field of packages and the fight against corruption and other announced by the government since last August, “salinity to” a final opportunity to achieve these reforms. ”
chattels: ” ……………. delayed the application of political, administrative and economic reforms in the field of packages and the fight against corruption and other announced by the government since last August, ”
chattels: ” ………………… a final opportunity to achieve these reforms. ”
Doug_W: bla bla bla
chattels: ‹@Doug_W› Yada, yada, yada …………………. 🙂
chattels: ‹@Doug_W› Although the supreme religious authority may indeed be losing patience with the Abadi government.
chattels: Parliamentary clans: the general situation affected the committees and we will work on reconciliation Anbar soon
chattels: ” the Commission’s work in the next chapter will be more effective, Fjhd Committee now serves as intensively to complete the subject of social reconciliation after Daash, deportation, murder and robbery after the liberation of regions in Salahuddin and Anbar. ”
chattels: “There is the Commission Action Plan in Diyala as our efforts in Salah al-Din,” pointing out that “the Commission will work on a plan close during the beginning of the next legislative term, including respect in Anbar and social reconciliation.”
chattels: ” The head of the House of Representatives Saleem al-Jubouri, said on 23 November last, the Commission clans parliamentary ready to work with all the tribal leaders in the tense areas to narrow down the problems their wisdom and their ability to find the required solutions to every problem under the circumstances, to achieve reconciliation Almojtmaah.”
Doug_W: they talk a big game
chattels: ‹@Doug_W› Indeed, more promises of future action, eh ?
Doug_W: well talk is cheap
chattels: ‹@Doug_W› How many more ” tomorrows ” does Iraq have ?
Doug_W: good Q
chattels: All of the ” We are gonnas’ ” and ” woulda, coulda, shoulda’s ”
Doug_W: they are as stale as their “soon”
chattels: ‹@Doug_W› 🙂 Doug_W: bbiab
chattels: ” Central Bank has contracted with an international company for SEK 5,000 commemorative gold ”
chattels: ” an international company ” ………………… Franklin Mint ??????????? 🙂
chattels: 15 grams, a little over 1/2 an ounce of gold, at 720,000 dinars, means that one ounce of gold ( $ 1,100 ) would sell for about 1.4 million dinar. At one time we paid about $ 1,100 dollars for one million dinar.
chattels: Sounds like ” devaluation ” to me.
chattels: Or we can use the Iraqi euphemism of ” adjustment”.
Doug_W: tomato- tomato
chattels: The article does seem to say that the coin is ” 250 dinar “, but it also says ” commemorative “.
lonegunman: ‹@chattels› GM!!and yes they talk a big game and love themselves but they aint diddley squat at this point in time
chattels: ‹@lonegunman› Legends in their own minds, eh ? 🙂
lonegunman: ‹@chattels› commemoritive as in put on a shelf lol lol
lonegunman: ‹@chattels› oh for sure
chattels: ‹@lonegunman› Franklin Mint collectible 🙂
lonegunman: ‹@chattels› exactly
lonegunman: Ok ! Good to see you but going diving this morning
chattels: ‹@lonegunman› Have a fine day sir
lonegunman: Have a great day will be seeing you
chattels: A member of the parliamentary finance: the government is unable to face the repercussions of the drop in oil
chattels: The Iraqi government is considering several options to address this deficit and secure the war on terrorism and the lack of imports expenses through the possibility of postponing the payment of staff salaries or partial sale of state property of land and privatization of some government institutions in addition to the two loans Alforeigh.
chattels: Tariffs ? How significant are they in the great scheme of financial matters for Iraq ? My sense is that too much is being made of them relative to our liquidity event and as a solution to Iraq’s economic woes.
chattels: DEFINITION of ‘Tariff’
chattels: A tax imposed on imported goods and services. Tariffs are used to restrict trade, as they increase the price of imported goods and services, making them more expensive to consumers. A specific tariff is levied as a fixed fee based on the type of item (e.g., $1,000 on any car).
An ad-valorem tariff is levied based on the item’s value (e.g., 10% of the car’s value). Tariffs provide additional revenue for governments and domestic producers at the expense of consumers and foreign producers. They are one of several tools available to shape trade policy.
chattels: BREAKING DOWN ‘Tariff’
chattels: Governments may impose tariffs to raise revenue or to protect domestic industries from foreign competition, since consumers will generally purchase foreign-produced goods when they are cheaper.
While consumers are not legally prohibited from purchasing foreign-produced goods, tariffs make those goods more expensive, which gives consumers an incentive to buy domestically produced goods that seem competitively priced or less expensive by comparison.
Tariffs can make domestic industries less efficient, since they aren’t subject to global competition. Tariffs can also lead to trade wars as exporting countries reciprocate with their own tariffs on imported goods. Groups such as the World Trade Organization exist to combat the use of egregious tariffs.
chattels: Governments typically use one of the following justifications for implementing tariffs: To protect domestic jobs. If consumers buy less-expensive foreign goods, workers who produce that good domestically might lose their jobs. To protect infant industries.
If a country wants to develop its own industry producing a particular good, it will use tariffs to make it more expensive for consumers to purchase the foreign version of that good. The hope is that they will buy the domestic version instead and help that industry grow.
To retaliate against a trading partner. If one country doesn’t play by the trade rules both countries previously agreed on, the country that feels jilted might impose tariffs on its partner’s goods as a punishment. The higher price caused by the tariff should cause purchases to fall.
To protect consumers. If a government thinks a foreign good might be harmful, it might implement a tariff to discourage consumers from buying it.
Doug_W: that only works when goods are made domestically
chattels: The greater significance and consequence of the imposition of tariffs in Iraq for our event may be INFLATION.
chattels: I have never seen any revenue projections to the State of Iraq as a result of the tariffs.
chattels: What domestic products has Iraq to protect as Doug W points out ?
Doug_W: camels and goats maybe?
chattels: ‹@Doug_W› 🙂
chattels: 1-8-2016 Newshound Guru Kaperoni Article: “Central bank: Stamping contracted 10 000 specie to diversify their savings and get a 24 carat gold” Quote: “…a confirmation of his announcement earlier intention to sell gold different weights for those wishing to purchase it from the citizens…” Just think of all the dinar the CBI will collect selling these coins.
We are beginning to see some momentum. If you think about it, Iraqi’s are giving up a big stack of worn out paper for a coin. 20 million dinar is like 26 coins. Much easier.
chattels: I do see how the issuance of gold coins could reduce the paper money supply in Iraq. But why would such action be limited to a commemorative edition ?
Doug_W: again that is a good Q ?
chattels: Another day in ” dinarland ” with more questions than answers, eh ?
chattels: Could it be a ” trial program ” ?
Doug_W: it IS Iraq “C”
Doug_W: anything is possible
chattels: One would like to think that such a potentially important / significant process would not be subject to the vagaries of trial and error, eh ?
chattels: ‹@Doug_W› True dat ! 🙂
chattels: So much for a great ” master plan ” regarding our speculation in the IQD, eh ?
chattels: Sometimes I rue the day that I ever got involved with this process.
Doug_W: I just “ride the wave” and do not try too hard ti “understand” since I have NO control anyhow
Doug_W: life is easier that way in this venture
chattels: ‹@Doug_W› This is all your fault ! 🙂
Doug_W: <<Big shoulders
chattels: Deputy calls for the three presidencies because aware of the seriousness of reference Sorry for not implementing reforms
chattels: called the National Alliance MP Mohammed Allkash, the three presidencies “legislative, executive and judiciary”, to be aware of the seriousness of the religious authority Sorry for the lack of implementation of the reforms on the ground.
chattels: Medhat al Mahmoud being included in the ” mix “.
chattels: Abadi: the collapse of oil prices will be the strength and usefulness of us
chattels: 20:42:13 2016-01-07 | (Voice of Iraq) – Baghdad said Prime Minister Haider al-Abadi, Thursday, that the collapse of world oil prices would be a “force” for Iraq and the “benefit” of stimulating positive, as called for activating the single window in the investment,
he expressed regret for the decline in palm cultivation in Iraq. He said Abadi, during a meeting with the private sector delegation Economic Organizations for investment and reconstruction, according to a statement, “The country faces a serious challenge, along with terrorism and of lower oil prices,”
adding that “the collapse in oil prices will force us and The benefit to stimulate positive and which we began by promoting industry and pressure government and accelerate the reform of expenditures.
“He added Abadi,” that we are serious in partnership between the private and the public sector, but we are suffering from, represented that the change does not have to change the laws of only a problem but rather to change the stereotyped thinking and this requires cooperation to overcome “,
calling for” activating the single window in the investment and implementation true look through sound specialist to follow the shortest way to reach the goal. ”
chattels: Talk about searching for the ” silver lining ” in potential disaster …………………..
Doug_W: well U can’t blame them 4 that
chattels: Kurds digging «trench» to demarcate their borders, …………..
chattels: ” …………….. «Daash» is not the end but the means and the opportunity for the Kurdish forces to impose a fait accompli in Iraq and Turkmen by digging this trench in lost weakness of the central government …………… ”
chattels: “This national project is implemented with the support and advice from international experts paint a cross-GPS service, include conflicting forth in Article 140 of the constitution areas,
Read more: www.sotaliraq.com/newsite…
chattels: The Kurds are busy preparing and posturing for every benefit / advantage post DAESH. IMO.
Doug_W: looks that way
chattels: ” …………. the Kurdish forces to impose a fait accompli in Iraq …………. ” and specifically Article 140 implementation as I have opined in the past.
chattels: Reidar Visser @reidarvisser 2h2 hours ago In sign of impatience with Iraqi politicians Shia clergy use Friday prayers to say “no real reform” achieved in 2015
Doug_W: that is like “tell us something we DON’T know”