News With Links & Discussion
Wealthwatch Sunday OOTW Chat 1-10-16
TWO GREAT CHATS RE: GOVERNMENT PROPOSES TO INTERVENE IN CBI POLICY – TRUE STATE OF RESERVES – ANOTHER ARTICLE FROM ZEBARI DISCUSSING THE STUDY TO ADJUST THE RATE OF THE DINAR & ANOTHER PROPOSAL FOR DELETION OF THE ZEROES !
DEPOSITOR’S INSURANCE – MORE TALK ON TARIFFS – IRAQ WANTS TO GET ITS TRADE GOING!!!
HAVE A GREAT REST OF YOUR DAY!
OOTW: Established a House of Representatives office in Dohuk governorate on Thursday 7/1/2016 a workshop entitled (Conference for the protection of peaceful coexistence and combating extremism) Bhoudoralsadh Sarhan Ahmed and Jamal Ahmed Representatives and Najiba Najib and Mdaraoagaf Dahuk, president of the Federation of Muslim Scholars Dohuk branch and heads of a number of civil society organizations and religious figures Christian and Yazidi.
The workshop discussed the subject of peaceful coexistence in Iraq and the most important obstacles that stand in the way it from reaching the level of ambition and the most important aspects that affect the peaceful co-existence,
and how to develop it and the fight against all ideas of extremism and terrorism in Iraq. and resulted in the workshop to provide observations and views the task of the National Conference on the Protection of peaceful coexistence, which 01.26.2016 in will be held in the House of Representatives.parliament.iq/details.asp…
OOTW: THE ABOVE LINK ALSO CONTAINS A PRESS RELEASE FROM DEPUTY SPEAKER, HAMOUDI, AGAIN CALLING FOR THE LAUNCHING OF IRAQI NATIONAL PRODUCTS
OOTW: MANY SIMILAR ARTICLES AS WELL AS PRESS RELEASES ON THIS CONTAIN WHAT SEEMS TO ME TO BE SUBTEXT OF “BUY IRAQI BECAUSE TARIFFS ARE COMING”
OOTW: BIG ANNOUNCEMENT FROM THE MINISTRY OF TRANSPORT SITE
OOTW: Zubaidi meeting chaired by the maritime transport sector
OOTW: Chaired by Transport Minister Baqir al-Zubaidi, the maritime transport sector meeting in the presence of Inspector General of the Ministry of Technical and agent and agency administrative agent and agency directors general of Ports and Maritime and implementation of transport projects, contracts, legal, planning and follow-up and a number of specialists in the maritime field ….
OOTW: During the meeting, discuss the investment plan for 2016 and projects payment projects on credit and projects of strategic addition to discussing the tariff set by the formations of other ministries working in the ports and the subject obtained revenue from the work of examination of the goods and containers devices (Alsonarat) in ports and Mnasftha with the General Administration of Customs and the establishment of yards and late stacked container by customs, has also been discussing need ports to degrees, training and twinning with international ports,
OOTW: and the development of the Center for Studies and Research in ports have also been an objective discussion of overall ports stomach plan by the JICA Japanese then took discuss the issue of giving priority to the ships interoperability working with the company Under Iraqi font name in the entry and the provision of sidewalks in Iraqi ports Bboakhar government.
OOTW: The Director of Marine in a detailed explanation of the company’s plan to improve its performance and especially the completion of Maritime Authority Act and the completion of the signing of major agreements with the International Maritime Organization MARBOL.SOLAS.STCW and activating the role of the national carrier being a contender in the interest income and the state treasury
OOTW: There was discussion of matters for the company to implement public transport projects and the mechanics of the payment of dues for the work done for the ports. Mr. Abdullah and coffee, general manager of projects and provided detailed information on these receivables.
In conclusion, Mr. art dealer gave an explanation on the completion of Karbala hall at Baghdad International Airport procedures and actions taken to delivery process during 2016.
OOTW: ONTO CORRUPTION
OOTW: Integrity board will hold a workshop for national anti-corruption strategy for the years 2016 2020 in the presence of experts and inspectors general
OOTW: Chairman of the board of Integrity, Dr. Hassan al-Yassiri opened Thursday 7/1/2016 the workshop tagged “together to fight corruption,” for the purpose of completing the steps the Authority to develop a national strategy to combat corruption for the years 2016 – 2020.
Dr. Yasiri in his speech, which was initiated by the Proceedings of the workshop on the faith of the Authority that specialization and professionalism are two routes Sulaiman to develop a national strategy to combat corruption are comprehensive and realistic,
OOTW: He pointed to the use of the body was a group of specialists in the field of strategic evidence; to put the draft to meet the ambitious, and based on clear criteria and aspires to Iraq is free from corruption and Odranh, and moving steps parallel and intersecting with the vision of the Authority in the fight against corruption at the international level, who stepped Iraq represented Bhaoh Integrity the important and serious steps.
He pointed out that the opinion of other national regulatory bodies is at the forefront of the priorities of the board of Integrity “So we decided to have Inspectors General in the picture; to reflect their views after them responsible for monitoring the work of ministries and governmental institutions.
OOTW: Turning workshop to explain the message, which aims the national strategy to combat corruption achieved, and reviewed a sample of international strategies debate; in order to benefit from them in the content of the national strategy to be drafted mode.
The participants agreed in the workshop to compose a joint working teams from Offices inspectors general; in order to perceptions of a more in-depth, by those offices, ministries and government institutions in which it operates,
OOTW: EVERYTHING YOU HAVE SEEN POSTED HERE BY ME, IS FROM OUR WEEKLY GOVERNMENT THREAD – MOST OF THE REAL MOVEMENT / PROGRESS IN IRAQ CAN BE SEEN IN OUR GOVERNMENT THREAD(S) –
I STRONGLY ENCOURAGE YOU TO READ THESE WEEKLY THREADS, BECAUSE THERE’S SO MUCH INFORMATION IN THESE THREADS, IT’S NOT POSSIBLE FOR ME TO POST EVERYTHING
OOTW: HERE’S THIS WEEK’S LINK OOTW: wealthwatch.world/showthr…
OOTW: HERE IS A GREAT ARTICLE WHICH TIES IN WITH MY CHAT ABOVE, AS WELL AS CHATTELS AND BUTIFLDRM’S DISCUSSION, THIS MORNING
OOTW: Expert: Currency exchange rate affects the import and export value
OOTW: TY JDBLUE FOR THIS ARTICLE
OOTW: It is known that the currency of any country depends on the performance of its economy, value, and there are several factors in this performance impact in determining this value, including the interest rate where height will attract foreign capital to the inside, and the other factor balance the country’s trade Increasing demand for a particular commodity will also increase demand for its currency.
OOTW: In addition to that factor the political situation of the country, the inflation rate also reflects the purchasing value of the currency or the amount of goods and services that can be purchased. It measures adopted by the economic policies of countries are managing the currency market and the price of the currency exchange in front of the other currencies,
and in this regard stresses economist Ahmed Abrihi Ali that the exchange rate affects imports and exports, it can raise or reduce the relative prices of imports (exports) to support capacity international competitiveness or weaken it.
OOTW: He adds Abrihi: That’s why the pressure on China to revalue its currency in order to make imports cheap and exports expensive exerting downward pressure on their international competitiveness and shrink its trade surplus.
The best example to control the value of any currency is the measures taken by China’s second-largest economy in the world to maintain a low rate of the Chinese yuan to serve their purposes but also in the export and dumping their products which, The United States accuses China of fabricating reduce the price of its currency to stimulate trade-offs Business.
OOTW: Is it the government is in the interest of the citizen or hurt? Noting that a review of the exchange rate will be one of the government’s interest, but harmful to the citizen, where would increase the exchange rate to runaway inflation, and an increase in commodity prices, and student Haji need to take it into consideration and study of the project from all aspects,
before taking any decision, noting that the re Consideration will be an increase of the dollar exchange rate, a low rate of the dinar against the dollar, because the government can not raise the price of the dinar against the dollar, at a time that the revenues and expenditures in dinars to the dollar, pointing out that the increase in price of the dollar is what is the benefit to the government. ‘
Iraq is facing a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 501 trillion deficit rate of 8.22 percent.
OOTW: AGAIN WE HAVE VERBIAGE WHICH IN THE LANGUAGE, SEEMS CONTRADICTING
OOTW: THIS COSTS THE CITIZENS MORE TO PURCHASE DOLLARS
OOTW: THE BYPRODUCT IS THAT THEY DRAW IN MORE DINAR
OOTW: IF I WERE AN IRAQI CITIZEN, I’D BE ENRAGED AFTER READING THIS STATEMENT….CONTINUING ON….
OOTW: ONE MORE POINT…I BELIEVE ZEBARI IS POINTING THIS OUT AS A WAY OF STATING – WHILE THIS IS GOOD FOR THE GOVT., WE DO APPRECIATE IT’S NOT GOOD FOR THE CITIZEN”
For example we have received help from the International Monetary Fund, and a few days ago we received billion and 002 million dollars from the World Bank, we have introduced a monitoring program on how we manage the financial and economic policy, and if we could get help more of them, as we intend to sell sovereign bonds, because the situation in Iraq this year better than last year in this regard.
Zebari explained: The other option is how to raise the Iraqi dinar exchange rate, despite the risk that it may be his choice Repercussions.
OOTW: “Zebari explained: The other option is how to raise the Iraqi dinar exchange rate, despite the risk that it may be his choice Repercussions. ”
OOTW: SO EVEN THOUGH HE STATES IT MAY HURT THE CITIZENS – THIS IS STILL UNDER CONSIDERATION AND I MUST PAIR THIS WITH THE FAIRLY RECENT PRESS RELEASE BY THE CBI –
OOTW: AT THIS POINT, WE JUST DON’T KNOW IF THEY’RE GOING TO RAISE THE VALUE – IE RAISE THE COST OF THE DINAR AGAINST THE DOLLAR, OR IF THEY’RE GOING TO LOWER IT AGAINST THE DOLLAR
OOTW: WE JUST HAVE TO WAIT AND SEE
Doug_W: the next OFFICIAL waiting period begins NOW…..
THE GOVT’S CALL TO INTERVENE IN CBI POLICY, AND ONGOING ARTICLES WHEREIN ZEBARI DISCUSSES CHANGING THE RATE OF THE IQD
OOTW: http: // wealthwatch . world /showthread . php?tid = 3593
OOTW: I DO UNDERSTAND THAT MOHSEN/KEYWORDS DID SAY THAT AT THIS TIME THEY WEREN’T GOING TO ADJUST THE RATE
OOTW: BUT BECAUSE I CONTINUE TO SEE ARTICLES WHEREIN STATED THAT THE GOVT WANTS TO INTERVENE IN CBI POLICY, ALONG W ZEBARI ADDRESSING THE RATE OF THE DINAR (OVER AND OVER) –
I HAVE TO CONCLUDE THAT THERE WILL BE MORE HEAD BUTTING BETWEEN THE CBI AND THE GOVERNMENT AND THAT THIS REMAINS A FLUID CONSIDERATION (AT PRESENT)
OOTW: ANOTHER PRIMARY REASON FOR THEM TO BE DISCUSSING THIS IS BECAUSE THEY HAVE TO KICKSTART THEIR IMPORT/EXPORT MARKETS
OOTW: Central Bank: the devaluation of the dinar detriment of the citizen and not the intention for it Sunday, January 10th 2016 BAGHDAD / … stressed the central bank, Sunday, the lack of intent to amend the Iraqi dinar exchange rate, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens.
The bank said in a statement: “Eye Iraq News” received a copy of it, he was “no intention to amend the dinar exchange rate and that what is declared by the otherwise from any person or entity has not considered particularly after it has been installed price in the budget agreement with the Government and the International Monetary Fund “.
The statement added that “the central bank is well aware that any reduction in the value of the dinar meant damaging the purchasing power of citizens because most of their needs are imported.”
The prime minister Haider al-Abadi said earlier, that the Iraqi currency backed strongly there is no fear on the exchange rate of the dinar against the dollar, as he pointed to the existence of “manipulation and conspiracy” to influence the current situation. http://aynaliraqnews…news&id22=51183
rocknrollbus: ‹@OOTW› Does ISIS have control of most of the banks in Mosul?
OOTW: FROM MY UNDERSTAND, YES, THEY STILL DO AND THIS WAS ONE ASPECT OF THE NEED FOR THE ANTI MONEY LAUNDERING LAW
OOTW: WE ADDRESSED THIS IN LAST WEEK’S CHAT
OOTW: LONG HAUL TO RETAKE MOSUL AHEAD – FROM ALL I CAN TELL
rocknrollbus: 1 US Battalion could get it done in a week!!!
OOTW: UNLESS THEY ARE STILL GOING TO CONSIDER LOWERING THE RATE FURTHER TO RAMP UP EXPORTS OOTW: WE HAVE TO SEE
OOTW: PERHAPS ROCKNROLLBUS – BUT THERE’S STILL CONFLICTING NEWS/EVIDENCE THAT THE US HAS SUBSTANTIAL GROUND TROOPS IN IRAQ – MOST ARTICLES STILL STATE THAT WE’RE THERE AS (SOLELY) ADVISORS
Doug_W: all I am gonna say about that is BUNK
Doug_W: combat troops we were.
OOTW: I TEND TO AGREE WITH YOU DOUG
rocknrollbus: I think last I heard…………3,000 troops……..er, ah……”advisers”……………..
rocknrollbus: ‹@Doug_W› What branch?
Doug_W: Army I was a combat medic
rocknrollbus: I was a 31J and later 71L
Doug_W: I was a 91 Charlie
rocknrollbus: I used to say……….31 Junkie
rocknrollbus: 91? Medic??
rocknrollbus: Huh…..did not know that
Doug_W: yup Physicians asst
Doug_W: I have several medals for saving PPL
rocknrollbus: I was in at the tailend of Nam
Doug_W: well its time 4 me to leave
rocknrollbus: Just get soooooo PISSED all our brothers have to go fight for these fatcat politicians and “their” wars!! I can understand WW1 and WW2.
OOTW: AGAIN HERE IS THE LINK TO THIS CHAT (AND MORE)
OOTW: BTW THE ANTI MONEY LAUNDERING LAW (AML) IS NOW IN THE LAW LIBRARY www.iraq-lg-law.org/ Anti-money laundering and the financing of terrorism Law No. (39) for the year 2015 Arabic Original Document 13 Dec 2015 L
chattels: good afternoon all
OOTW: GA CHATTELS
OOTW: Parliamentary Economic proposes to change the central bank policy and stresses: financial situation would be “the biggest challenge”
chattels: ‹@OOTW› What is your sense of these articles ? Any trend or developing clarity ?
OOTW: I SAY THIS BECAUSE WE’VE ALREADY SEEN THE RATE DROP TO 1182
OOTW: BOTH THE CBI AND SALEH (ADVISER TO ABADI) AND THE ECONOMIC COMMITTEE HAVE PUBLISHED THEIR LISTS OF NEEDED REFORMS TO THE ECONOMIC AND BANKING CONDITIONS
OOTW: THEN WE HAVE THE PARLIAMENT SITE, STEADILY POSTING ANNOUNCEMENTS THAT PEOPLE NEED TO START SUPPORTING/BUYING IRAQI PRODUCTS
OOTW: THE MINISTRY OF TRANSPORT AND TRADE HAVE BOTH PUBLISHED ANNOUNCEMENTS REGARDING THE NEED TO PREPARE FOR INTERNATIONAL TRADE
OOTW: REPAIR OF THE PORTS AS WELL
OOTW: ARTICLES FROM ECONOMISTS STATING THAT IRAQ HAS TO JUMPSTART THE ECONOMY VIA TRADE (ESP EXPORTS)
OOTW: AND STATING THAT THE CURRENT VALUE OF THE DINAR DOESN’T SUPPORT THAT
OOTW: LIKEWISE, SOME OF THESE ECONOMISTS STATE THEIR (VALID) REASONING AS TO WHY THE IQD VALUE SHOULD BE DECREASED
OOTW: HENCE THE NEED AS STATED BY ZEBARI AND MOHSEN (SEPARATE ADDRESSMENTS) RE THE STUDY OF THE VALUE OF THE DINAR
OOTW: ABADI ALSO STATING THAT THEY NEED TO INSTITUTE THE TARIFFS TO HELP REBUILD THEIR RESERVES
OOTW: THEY HAVE PAYMENTS TO MAKE AND AGREEMENTS WITH OTHER COUNTRIES (TRADE AGREEMENTS)
OOTW: IT WILL TAKE A WHILE TO BUILD UP RESERVES/INCOME FROM TRADE
Doug_W: 4 sure OO
OOTW: THESE ARTICLES (ESPECIALLY TODAY) STATE THAT THE GOVT IS THREATENING THE CBI TO TAKE OVER CONTROLS OF THE BANKS
OOTW: AND RELATED LAW/S
OOTW: COMBINED WITH THE PRESS RELEASES FROM DR’S SALEH AND HAFEZ POINTING THE FINGER OF CORRUPTION AT THE CBI, COMBINED WITH THEIR RECOMMENDED/NEEDED REFORMS
OOTW: IF THEY DON’T GET THAT DONE, THE ONLY WAY THEIR GOING TO GET THE MASSES GOING BACK INTO THE BANKS IS THROUGH RAISING TAXES ON GOODS
OOTW: PEOPLE WILL EITHER BUY THE DOLLAR (EXPENSIVE FOR THEM)- TO BUY THESE GOODS
OOTW: OR THEY’LL USE DINAR (AND WON’T HAVE TO PAY THE SPREAD)
OOTW: WHICH WOULD YOU DO?
OOTW: THEY WOULDN’T
OOTW: I WOULDN’T ANYWAY 😉
OOTW: IF THEY DROP THE VALUE OF THE IQD – THEN PEOPLE HAVE EVEN LESS BUYING POWER – SO WHY WOULD THEY GO FURTHER TO THEN ADD THE COST OF BUYING DOLLARS ON TOP OF THAT?
chattels: Who is Raed al-Hashemi ?
OOTW: NOT THAT I RECALL
OOTW: DID YOU POST THIS IN THE FORUM, CHATTELS? OOTW: IF NOT I CAN GET IT EASILY
OOTW: GOT IT OOTW: HERE IS THE ARTICLE
OOTW: BAGHDAD – A peace Zidane Stressed economist Raed al-Hashemi, the deletion of zeros from the local currency needs to be political, security and economic stability, noting that the feminine currency will lead to the feminine economy and facilitate the process of the payments system and raises the value of the currency.
raise zeros from the Iraqi currency has a benefit of the Iraqi economy? – The process of deletion of zeros is a necessary and important step comes as part of the need for the process of administrative reform of the coin contribute -lo been correctly applied with a choice of Almnasp- time in reducing transaction costs and cash transactions in the economic process,
and reduce the money supply in the country’s size and to facilitate the calculations and reduce the inflating figures not to mention that the issuance of small groups will facilitate policy accounts price.
chattels: Just posted it – Courtesy of Richard Incrocci
OOTW: AH THANK YOU
OOTW: I WILL COMBINE THREADS
OOTW: * What is the correct mechanisms that must be followed until the process of lifting the zeros? -there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country,
and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
OOTW: What is the correct mechanisms that must be followed until the process of lifting the zeros? -there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country, and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
What are the concerns of the adoption of the process of lifting the zeros? -ary a lot economists that the process of deleting three zeros will lead to chaos and confusion in the domestic market and the spread of the phenomenon of “monetary illusion” because there are “two currencies” old and new and Sastglha traders to raise the goods and prices of goods.
OOTW: – The process of deletion of zeros is a necessary and important step comes as part of the need for the process of administrative reform of the coin contribute -lo been correctly applied with a choice of Almnasp- time in reducing transaction costs and cash transactions in the economic process, and reduce the money supply in the country’s size and to facilitate the calculations and reduce the inflating figures not to mention that the issuance of small groups will facilitate policy accounts price.
What is the correct mechanisms that must be followed until the process of lifting the zeros? -there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country, and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
as well as the fear of occurrence of chaos in the Iraqi street and stand in a new queues at the gates banks to replace the current Iraqi banknotes with those of the new banknotes.
Which will contribute to the emergence of speculators on the black market, taking advantage of the chaos that will arise from the process of the currency switch.
As well as there are fears of counterfeiters and (mafias) money laundering and smugglers currency who will take advantage of the new situation in the “wash” the old Iraqi dinars counterfeit and replaced by new or smuggling of genuine Iraqi dinars out of the country for the purposes of terrorism and organized crime, which will lead to lethality economic security of Iraq .
OOTW: Do you think that the lifting of the zeroes will affect the economy and social stability?
chattels: ‹@OOTW› What do you think a ” feminine ” Iraqi economy means ?
OOTW: THE REASON BECAUSE THE ECONOMISTS KEEP HARPING ON THIS – IS BECAUSE IT NEEDS TO BE DONE…..YET, OVER ALL THESE YEARS…WE STILL SEE A CONTINUED POLICY OF CONFLICT BETWEEN THE ECONOMIC ADVISERS AND GOVT COMMITTEES VS THE CBI
OOTW: THIS SITE (BEST DEFINITION AND MOST APPLICABLE) SAYS “LEARNING”
OOTW: SO I WOULD SAY LEARNING THROUGH DOING
chattels: ‹@OOTW› ty
OOTW: I’M STILL RESEARCHING THIS
OOTW: ALSO I WOULD THINK FEMININE WOULD MEAN SOFTER OR LESS OF A SHOCK OR IMPACT
OOTW: The interesting
OOTW: HERE’S MORE ON THE MEANING OF FEMININE
OOTW: Stressed economist Raed al-Hashemi, the deletion of zeros from the local currency needs to be political, security and economic stability, noting that the feminine currency will see an interesting economy and facilitate the process of the payments system and raises the value of the currency.
OOTW: SO IT ALSO MEANS INTERESTING
PLEASE SEE THESE CHATS HERE http://wealthwatch.world/showthread.php?tid=3593
CHATS START ON PAGE 3