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Wednesday, August 26, 2015

Millionday Wednesday Roundtable 8-26-15

Millionday Roundtable 8/26/15

Millionday: GOOD TO SEE ALL YOUR SMILING FACES - SMILE 

Millionday: THIS ROUNDTABLE WILL UPDATE US AS TO WHERE THEY ARE -- THIS IS WHAT MOST ALL NEWS WILL BE FOR A WHILE IMO 

Millionday: NOTE -- READ EVERY WORD >>>>> Finance Minister Hoshyar Zebari with the Special Representative of the Secretary General of the United Nations, Tuesday, procedures to overcome the financial crisis and opening up to the global financial markets. 

A statement by the Ministry of Finance received / scales News / copy of "Finance Minister Hoshyar Zebari met with Jan Kubiš Special Representative of the UN Secretary and Head of Mission of UNAMI in Iraq,

 and discussed with him cooperation between Iraq and the United Nations in light of the developments experienced by Iraq in the current phase and the reform steps undertaken by the government and the importance processed in accordance with the constitutional frameworks. "
~~~
Millionday: NOTE -- THIS MEETING IS TO REVEAL THE STEPS TO BE TAKEN TO MOVE IRAQ TO THE GLOBAL FINANCE MARKETS –

THIS REQUIRES ECONOMICALLY THE INTERNATIONAL EQUATION TO BE DONE FOR GLOBAL PRICING AND OF COURSE THIS INCLUDES THE INTERNATIONAL PRICING AND ACCEPTANCE OF THE DINAR

Millionday: The two sides stressed the "importance of continuing cooperation and coordination between Iraq and the United Nations, to serve the reform steps undertaken by the government and in the forefront of the fight against corruption."

He said Zebari, according to the statement to "the procedures to overcome the financial crisis, including the development of cooperation with international financial institutions and in particular with the International Monetary Fund and the World Bank Group and openness to global capital markets,"

Millionday: NOTE -- THE GLOBAL CAPITAL MARKETS WOULD BE THE CURRENCY MARKET (CAPITAL)

Millionday: SO THIS IS ACCORDING TO THE AGREEMENTS SECURED WITH THE IMF AND WORLD BANK GROUP

Red Skyy: Was this yesterday or this coming Tuesday?

Millionday: YESTERDAY

Millionday: THE MEETING HAS OCCURED -- SMILE

faith1: thought i read above ,,,,meeting tuesday ? yesterday ??* this is* not get er done news ,,IMO... It's ...IT's done news !! can't get much bigger than IMF* and WB

faith1:whoops just read the other ,,, was typing...

Millionday: YES -- THE MEETING WAS DONE YESTERDAY AND Zebari looking Kubiš with the financial crisis and opening up to the global financial market

ghost: I'm a bit confused -- What role does the UN play in any of this — either financial or judicial (anti-corruption)...obviously I mean directly involved.* Said yet another way is: who will REALLY act upon UN recommendations.

Millionday: THE SANCTIONS THAT WERE PLACED AND ALSO THE STEPS IRAQ NEEDED TO TAKE ARE A HUGE PART IN THIER RETURN –

ALSO THEY ARE IMPORTANT DUE TO THE ROLE THE UN WILL TAKE IN HELPING THE WAR TORN COUNTRY ALONG WITH THE CITIZENS IN THE MIDST OF PAST AND CURRENT SUFFERING

Millionday: THIS PHASE IS RELIANT ON THE STEPS REQUESTED AND THE CONSTITUTIONAL GUARANTEES HAVE BEEN IGNORED CONCERNING THE RIGHTS GIVEN FOR A MARKET ECONOMY –

THESE RIGHTS HAVE TO BE OBSERVED AND ALSO PROTECTED.

Millionday: An informed source at the Central Bank of Iraq, on Wednesday, for the last willing to put up bonds for sale in the local currency, while pointing to a surplus of foreign currency in the country.

The source said in an interview with the (long-Presse), that "Iraq needs funds in local currency and not in hard currency, so the central bank is preparing to launch bonds in local currency for sale in order to strengthen the local currency."

Millionday: NOTE -- THEY ARE MOVING FORWARD WITH THE DINAR BACKED BONDS --- HUGE HUGE NEWS –

OBVIOUSLY RELIANT ON AN INTERNATIONALL RECOGNIZED CURRENCY OR THEY ARE NOT WARKING TOWARDS THE SUPPORT THIS WOULD LEND TO THE VALUE OF THE LOCAL CURRENCY -- DINAR

Millionday: The source, who asked not to be named, said "bonds that will be put forward will be available to all citizens and the various classes in order to take advantage of it will be local and national," noting that "the mechanism of sale will be announced in the near future."

 The source continued that "there is a surplus in foreign currency in the country and, therefore, he went to the Central Bank to sell bonds in the national local currency away from the dollar selling."

Millionday: NOTE -- EXPECT ENOUGH CONFIDENCE IN THE DINAR TO ACTUALLY "BANK" ON THIER VALUE --RETURN ETC

Millionday: The Central Bank of Iraq announced earlier, to take the necessary measures to support liquidity in the banking system, and decided to facilitate the procedures for the sale of foreign currency "to sustain the exchange rate."

The Central Bank of Iraq, said in (the 18th of January 2015), that the financial reserves of Iraq is equivalent to one and half times the weakness of the currency bloc, returned as "best rates" in the countries of the world, and as he emphasized that Iraqi financial institutions are "unable" to cover the fiscal deficit,

he stressed the need to reconsider the structure of the budget and spending and to diversify sources of income and achieve the investment more broadly to address the decline in oil prices.

Millionday: SO AS WE KNOW THE WORK DONE TO DIVERSIFY THE GDP/MARKET HAS BEEN KNOWN AND IS WIDE SPREAD

ghost: I hate to keep asking silly ? -- but here goes: the 150% reserve was in JAN - there has been a dramatic slide over the last 1/2 year. Any idea where the reserves are now? I know gold was purchased but not enough to offset, I would suspect.

Millionday: THIS WAS A FIGURE THAT WAS RELEASED TO ENSURE THE ABILITY TO HAVE A STRONG VALUE FOR THE DINAR WHEN THE PROMOTION OF THE IRAQI PRODUCT AND DINAR WAS BEGINNING ---

NOT AN ACTUAL AUDIT -- JUST THE ABILITY OF CBI AND WHY ETC

Baxter1243: why would they obviously need an international rate on these bonds... if they are going to be sold Locally and Nationally... I didnt see it mentioned in the article where they were being sold Internationally? unless I missed it.. thx

Millionday: THE MARKET IS WHERE THEY ANNOUNCED THEIR AVAILABILITY -- THE BANKING TOOL HAS INTERNATIONAL COMPLIANCE AS WELL ---

WITHOUT AN EXPERT HERE FOR THE PURPOSE -- I SHOULD TELL YOU I AM NOT A BOND EXPERT AND AM TELLING YOU THOSE BULLET POINTS BY WHAT I HAVE READ ---

paul-o: Bax mostly asked my ? - which was, I guess I’m just dense. This sentence speaks (IMO) to a bonds with an international rate, “OBVIOUSLY RELIANT ON AN INTERNATIONALL RECOGNIZED CURRENCY”

 And this sentence doesn’t seem to speak to an international rate bcuz it will only be offered to the local Iraqi’s - "bonds that will be put forward will be available to all citizens and the various classes in order to take advantage of it will be local and national.” What am I missing – and thanks!

Millionday: THIS IS JUST ONE PART OF THE TOOLBOX OF BONDS THEY HAVE DECIDED TO USE TO HELP IN SUPPORTING THE VALUE OF THE DINAR --

Millionday: THIS IS THE THING --

Millionday: THE DINAR VALUE IN COUNTRY WITH THE SALE OF BONDS ON THE MARKET EVEN IF IT IS TO JUST GRANDMAS WITHIN BAGHDAD MUST HAVE A PROMOTIONAL VALUE OR GAIN IN ORDER TO HAVE AN INVESTOR BUY BONDS FOR FUTURES ----

THEY DID NOT SAY THIS IS FOR JUST IRAQIS AND THE UN DISCUSSION AND THE HUGE AMOUNT OF STEPS TAKING PLACE TO MOVE TO A MARKET ECONOMY GIVES ME NO FEAR THAT THEY ARE JUST GOING TO REMAIN DISABLED BY THEIR OWN BORDERS –

 THIS IS JUST THE REPORT OF YET ANOTHER TOOL THEY INTEND TO USE --- DOMESTIC BONDS

Millionday: MAKE SENSE?

Millionday: ITS A TOOL BOX -- NOT JUST ONE THING TO BE DONE

paul-o: Yes, the GOI gets much needed cash now and will pay it back in a year.

paul-o: Can't wait for them there bonds to be sold internationally though!!!

Millionday: PAUL -- THAT WAS ANNOUNCED AS WELL.

faith1: so can Iraq sell the Bonds in country without an international rate applied,,, sorry .. i understand the toolbox,,, i thought

Millionday: I AM GOING TO BRING SOME INFO ON BONDS BEFORE WE LEAVE THAT WILL CLARIFY THE RULES ETC -- SO HOLD ON FOR JUST A BIT AND I WILL BRING THE INFO

RML: It seems that in this central-bank world we live in, one's currency has value in relationship with to its internationally registered debt. It's like a credit score: if you have no debt it is the same as being a bad credit risk. Pay your debts on schedule and you get a good creditr rating.

A country creates deby by selling its bonds, which are promises to pay in the future (usually with interest). To have the sale of bonds only within Iraq for Iraqis is like the issuing and selling of War Bonds.

 If this is it, does it really advance the purchasing power of Iraq, its businesses and international commerce?

Millionday: THE DEBT RATIO IS A FACTOR IN MANY CALCULATIONS --- VALUE - RISK -- CREDIT RATINGS FROM DEBT AGREEMENTS ETC -----

THE INTEREST RATE IS ANOTHER TOOL THAT IS APPLIED BY THE GOVERNMENT AND IS NOT THE SAME AS THE CREDIT RATING YOU OR I WOULD RECEIVE DUE TO NOT PAYING OUR DEBTS

AND IS NOT WHAT DETERMINES THE RETURN ON BOND ISSUANCE –

NORMALLY THE GAIN VARIES AS WELL ACCORDING TO THE MATURITY LENGTH OF THE BOND AS WELL ---

IF IT IS SHORT TERM -- LONG TERM ETC -- THE RETURN WOULD BE CALCULATED BY THOSE TERMS -- (I AM NOT A LICENSED EXPERT)

quicktolegit96: DEBT TO INCOME RATIO - GDP ALONG WITH OTHER FACTORS....

Millionday: THIS REPORT IS GOOD NEWS DUE TO THE IMPLIED TIME THIS WILL IMPACT AND ALSO THE FOCUS IT SHOWS

Millionday: Announced the Office of the Presidency of the Kurdistan region, on Wednesday, for the main five-party agreement in the region, the 13 private project presidential law paragraph,

while among the remaining points of contention will be discussed early next week with the participation of representatives of the Kurdish ingredients and representatives of political parties that have representation in Parliament, confirmed that The United States asked the political forces twice the need to extend the mandate of the current President of the region, Massoud Barzani, until the end of the legislative session.

Millionday: NOTE -- THEY ARE EXTENDING THE MANDATE OF THE PRESIDENT AS REQUESTED BY THE US OF A RIGHT NOW UNTIL THE END OF LEGISLATIVE SESSION IN THE KURDISTAN REGION

Millionday: The head of the Office of the Presidency of the Kurdistan region, Fouad Hussein, at a press conference after the end of the Five-Year Meeting, at Saad Abdullah hall, the center of Erbil, and attended (range Press), "The five parties participating came out good outcome of the paragraphs on the powers of the President of the region according to the report which is mainly adopted for the negotiations themselves. "

Hussein added, that "the conferees agreed on the 13 paragraph of the Code of presidency of the region, and decided the continuation of the negotiation of the rest of the paragraphs of the meeting next Sunday,"

Millionday: NOTE -- THEY HAVE COMPLETED MANY OF THE POWERS REFLECTED IN THE CODE AND WILL MEET AGAIN SUNDAY
Millionday: NOTE -- LETS LOOK AT THE REST OF THIS REPORT AS WELL BRB

Millionday: adding that "the conferees agreed also to invite representatives of the Kurdish components of Turkmen, Christians, Yazidis, as well as representatives of political parties that have representation in the Kurdistan parliament to participate in the next meeting. "

Regarding the controversial points that are still under discussion, the President of the Presidium of the Kurdistan region, that "the representatives of the five main parties in the region, listened to the proposals contained in the paper presented by the Kurdistan Democratic Party, in preparation for discussion with their leaders and return to negotiate at the next meeting."

Millionday: Hussein made it clear, that of those "points of contention the fact that the President of the Region commander of the armed forces in the region, and the validity of the President of the Region to issue a general amnesty." ‘

And on the negation of the United States claim of Kurdish parties need to stay regional president, Massoud Barzani, in his post until the end of the current legislative session after two years, said President of the Presidium of the Kurdistan region, that "the US request came through the representative of the United States first, which took place between the Presidency of the parliament and the blocks of the meeting Kurdish parties, was reaffirmed in the first five-year meeting. "

And denied Hussein, "the existence of a political vacuum in the region," stressing that "the region has the presidency of the parliament and government institutions, exercised unusual about her work."

Millionday: SO AS WE HAVE HEARD IN THE NEWS CONCERNING OTHER COUNTRIES AS WELL -- THEY ARE GOING TO ADDRESS TERMS AS WELL --- AMNESTY HAS SHOWN ITS UGLY HEAD AGAIN LOL-- LOOKS LIKE IT IS BACK ON TABLE

Millionday: THIS APPEARS TO ME AND ANOTHER REWPORT I WAS TRYING TO CROSS IT WITH AS IF THE FOCUS IS REFORMS AND THERE IS NO TIME RIGHT NOW TO ADDRESS

Millionday: OK OTHER THAN THE OBVIOUS BOND BENEFIT OF HAVING FUNDS TO INVEST WITHIN IRAQ -- I AM GOING TO SHOW YOU A COUPLE OTHER THINGS

Millionday: HERE WE GO WITH A FEW THINGS AND I WILL ADD TO IT WITHIN THE NEXT COUPLE DAYS WITH HOW THIS APPLIES TO THE REALITY OF IRAQ 

Millionday: In terms of safety, bonds from the U.S. government (Treasury bonds) are considered "risk-free" (there are no "risk-free" stocks). While not exactly yielding high returns (as of 2012, a 30-year bond yielded an interest rate of 2 to 3%), if capital preservation - which is a fancy term for "never losing your principal investment" - is your primary goal, then a bond from a stable government is your best bet.’

 However, keep in mind that although bonds are safer as a rule, that doesn't mean they are all completely safe. 

Millionday: NOTE -- NOTICE BONDS FROM A STABLE GOVERNMENT

Millionday: THEREFORE THIS IS MORE OF AN OPTION FOR IRAQ AND ITS INVESTMENT FUNDS WITH THE REFORMS DUE TO CORRUPTION AND MONETARY CONFIDENCE AND ALSO THE ADDDED TRANSPARENCY THEY HAVE WORKED DAY AND NIGHT

Millionday: OK I AM GOING TO DO SOME MORE ON THE BONDS -- I WILL GET BACK TO YOU SO I CAN MINIMIZE INFO TO KEEP YOU FROM MISSING SOME OF IT

Millionday: GLAD TO SEE EVERYONE

Thanks for your patience. Swan

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