Post From Wealthwatch.world Part 1 of 2
Special OOTW Chat & Article
TODAY WE SAW A GREAT PRESS RELEASE FROM KEYWORDS - AN ACTION PLAN FOR ASSIGNING VALUE TO THE IQD! PLEASE SEE OUR CHAT TO READ WHAT THIS MEANS FOR US.
OOTW: wealthwatch.world/showthr... THIS JUST OUT FROM ALMADA "Financial crisis: devaluation of the Iraqi dinar is it the solution?"
OOTW: WHEN THEY SAY "DEVALUATION" THEY MEAN LOWERING THE FIGURE IE AMOUNT OF THE FILS -MOVING CLOSER TO THE VALUE OF A DOLLAR..IN EFFECT "LOWERING" THE NUMBER, IE, MAKING IT "DEVALUED"
OOTW: BUT IN EFFECT, INCREASING THE VALUE AS THE NUMBER AMOUNT/FILS OF THE DINAR ARE REDUCED
~~~
Special OOTW Chat & Article
TODAY WE SAW A GREAT PRESS RELEASE FROM KEYWORDS - AN ACTION PLAN FOR ASSIGNING VALUE TO THE IQD! PLEASE SEE OUR CHAT TO READ WHAT THIS MEANS FOR US.
OOTW: wealthwatch.world/showthr... THIS JUST OUT FROM ALMADA "Financial crisis: devaluation of the Iraqi dinar is it the solution?"
OOTW: WHEN THEY SAY "DEVALUATION" THEY MEAN LOWERING THE FIGURE IE AMOUNT OF THE FILS -MOVING CLOSER TO THE VALUE OF A DOLLAR..IN EFFECT "LOWERING" THE NUMBER, IE, MAKING IT "DEVALUED"
OOTW: BUT IN EFFECT, INCREASING THE VALUE AS THE NUMBER AMOUNT/FILS OF THE DINAR ARE REDUCED
~~~
MzDiva: does this mean they are closer than ever now
OOTW: HERE ARE SOME EXCERPTS FROM THE ARTICLE - THEY ARE TALKING ABOUT THE CURRENT PROBLEMS IN THE FIRST PART OF THIS REPORT - AFTERWARDS, THE ARTICLE ADDRESSES THE "FIXES".
OOTW: "In any case, the proposed reduction rate of the dinar against the dollar mired with many of the observations and cons can highlight the most important as follows:
OOTW: a. The reduction in the exchange rate of local currency, which is taken by States usually associated with the availability of the following (Policy Terms, conditions is available in the case of Iraq):
OOTW: A-requires a flexibility in demand for imports, which means that the increase in the exchange rate for foreign currency will lead to reduced demand for imports (due to the high price tag), and this flexibility is available to the absence of national production base, leading to a negative result ,
where higher amounts spent in national currency on imported goods and thus increase the demand for foreign currency, leading to further deterioration in the balance of payments.
OOTW: A-requires a flexibility in demand for imports, which means that the increase in the exchange rate for foreign currency will lead to reduced demand for imports (due to the high price tag), and this flexibility is available to the absence of national production base, leading to a negative result ,
where higher amounts spent in national currency on imported goods and thus increase the demand for foreign currency, leading to further deterioration in the balance of payments.
OOTW: reducing the lead of the national currency exchange rate to reduce production costs, including wages are based, and this is not available or possible in the circumstances of the country political, social and security.
OOTW: WE KEEP SEEING THIS , OVER AND OVER AND OVER..FOR YEARS NOW "and this is not available or possible in the circumstances of the country political, social and security. "
OOTW: "REDUCING THE LEAD OF THE NATIONAL CURRENCY"
OOTW: THIS LINE IN COMPARISON WITH THE TITLE OF THE ARTICLE, LEADS ME TO BELIEVE THEY ARE SIMULTANEOUSLY STATING THAT THE DINAR HAS LOST ITS RIGHTFUL LEAD POSITION IN THE IRAQI ECONOMY - AS WELL AS A POSSIBLE IMPLICATION THAT THE LEAD ZEROES MAY NEED TO BE REMOVED, THUS ADDING VALUE
OOTW: 2. Unlike the report by some of the gentlemen of the proposed terms of the amount can be calculated provided the balance of the exchange rate difference,
which was appreciated by 15 trillion dinars, the correct account in the light of the actual amount of dollars purchased by the central bank and Ministry of Finance
(excluding repayments Financial commitments in dollars, such as oil, electricity, defense, foreign and reimbursements assuming projects that all other ministries and projects for Initiating an obligation to the dollar with that assumption is unrealistic),
the correct amount can be made available for this year to exceed 5 trillion dinars and next year will be up to 10 trillion dinars in the best the possibilities, and this is the difference –
who will pay the price of Iraqi citizens - can be supplied from other alternatives and those alternatives not only provide large sums of money, but check economic and financial task purposes in the short and long term.
OOTW: IN EFFECT THEY'RE STATING THE CITIZENS NEED BUYING POWER
OOTW: HERE THEY ARE STATING THAT REVENUE CAN BE GENERATED TO OFFSET THE REDUCED VALUE OF THE IQD –
On the other hand, the fulfillment of financial obligations to the oil companies will contribute to the increase in revenues, where the addition of every 100 thousand barrels of oil extracted and the source increases revenue by about $ 2 billion (assuming the price of a barrel to $ 50).
There is considerable scope for increasing oil production as well as gas if what has financial obligations file management in favor of the companies producing oil and gas.
OOTW: PLEASE BEAR WITH ME, THIS IS NOT THE BEST TRANSLATION
OOTW: SO FOR THIS NEXT PART..TODAY BUTIFLDRM POSTED AN ARTICLE INDICATING THAT THE AUCTION CAP OF 75M NEEDED TO BE REINFORCED/REINSTITUTED - BECAUSE OF THE CORRUPTION
OOTW: "3. The proposal put two prices for the disbursement of the dinar, one low and one high allocated to cover essential needs (in order not to influence the citizen's task and sectors), such as food and medicine supplies Industry, agriculture and others, the proposal impractical and creates chaos and exploitation and corruption,
where the reality of ports and customs authorities can not be to extend the application of a sound proposal, and we have experiences in this field,
in which the instructions and controls turned into a means of blackmail and corruption and pour all in the interest of the corrupt lead to operations manipulation and rigging wide . "
OOTW: WELL, THE WHOLE REASON TAMIMI HAD THE 75M CAP ADDED TO THE AUCTIONS, VIA THE BUDGET - WHICH SJC OVERTURNED, WAS JUST FOR THIS VERY PROBLEM
OOTW: TO CONTROL THE CORRUPTION
OOTW: YET MOHSEN/KEYWORDS IS THE ONE WHO FILED THE SUIT TO HAVE THIS CAP REMOVED...AND AGAIN, NOW WE SEE THAT LITTLE CONTROLS EXIST (NOW, AS RESULT) TO MONITOR THE CORRUPTION
OOTW: ONE HAS TO THINK THAT THE SJC IS JUST LETTING MOHSEN/KEYWORDS..GET AWAY WITH THE CORRUPTION, BY PROXY OF THE ELIMINATION OF THE 75M AUCTION CAP
OOTW: THIS NEXT QUOTE IS A FORMER SUGGESTION - AND AN EXPLANATION AS TO WHY THIS WILL NOT WORK...."4-The lifting of the dollar exchange rate to 1,500 dinars (as proposed) means reduced purchasing power of citizens by 30%, in addition to cases of exploitation and loss of control over the market,
which adds another increase, and this increase in prices is too high under the current circumstances where the limited income of the vast proportion of citizens in addition to unemployment and high poverty rates,
as well as Cairo conditions experienced by millions of displaced people living humane difficult circumstances and resources barely sufficient to feed life and will be the beneficiary layer of traders and speculators. "
OOTW: THE ABOVE IS STATING THAT THE STREET MARKETEERS (CURRENCY DEALERS...BIG TOPIC THIS WEEK Wink - TAKE ADVANTAGE OF PEOPLE BY CHARGING TOO MANY DINARS TO BUY DOLLARS
OOTW: ESPECIALLY IN IMPOVERISHED AREAS
OOTW: HERE THEY ARE SAYING THAT THE RICH ARE THRIVING IN THESE CONDITIONS - "5. The damage to raise the exchange rate and thus prices the public pays the price citizens with low-income equally borne by those with high incomes,
which increases the phenomenon of large class differences, in the absence of tax policy reduce those differences, and make changes in the price structure and others are in favor of that layer. "
OOTW: A WAY FOR THEM TO ADDRESS THIS IS TO IMPLEMENT, ACROSS THE BOARD TAXES - HOWEVER, WHAT'S THIS GOING TO DO TO THE POOR?
OOTW: EXACTLY...CAUSE EVEN MORE TOIL AND STRIFE FOR THEM
OOTW: WHEN THEY CAN'T PAY THE TAXES
OOTW: HOW ARE THEY GOING TO BUY NECESSITIES?
OOTW: AGAIN, CIRCLES BACK TO THE EXISTING LIMITATIONS OF BUYING POWER
OOTW: The absence of the function of tax policy in the redistribution of income through taxation, according to real incomes to be re-distributed to citizens with limited income and poor through various means of support and services, this absence deepens the risk of lowering the exchange rate of the dinar.
OOTW: IN THIS INSTANCE, THEY'RE STATING THAT THIS CONDITION THREATENS TO CAUSE THE AVERAGE CITIZEN TO BE CHARGED EVEN MORE DINARS TO BUY DOLLARS. - AND ALSO, THE COST OF GOODS TO BE MORE EXPENSIVE - AS I STATED DIRECTLY ABOVE
OOTW: 6. The lifting of the exchange rate of the dollar by 30% mean reduction of assets and the value of investments Foreign such proportion that have been paid in dinars purchased in dollars at the time,
but even the Iraqi business sector is calculated found and investments denominated in dollars (for psychological reasons, historical and economic),
which generates serious repercussions of concern and hedge fears. extends the impact to the level of citizens who are used to assess their assets and their properties and their property on the basis of the dollar,
leading to raise Akiemha the national currency, and holds a clientele for it to rise, such as property buyers for residential or commercial purposes.
OOTW: SO THEY ARE SAYING THAT AS RESULT OF THE LACK OF THE CONFIDENCE IN THE DINAR, THAT PEOPLE HAVE RETAINED DOLLARS, BUT ALSO THE "MYTHOLOGY" OF THE POWER OF THE DOLLAR IN THE NATIONAL ECONOMIC PSYCHE
OOTW: AND THIS IS CAUSING A PROBLEM..HOW DO THEY OVERCOME THIS..COMBAT IT?
OOTW: IDEOLOGICALLY, THROUGH "ELEVATING" THE POSITION OF THE DINAR
OOTW: 7. The lifting of exchange rate policy when they follow to serve as a tax on Local-income as in the proposed increase, must be accompanied by a re-look at the direct and indirect taxes toward mitigate or reduce them,
it is not logical to impose taxes along with the increase in the exchange rate as it means a reduction of per capita income or purchasing power from both sides,
and it should be noted here that the government decided to apply the law tariff starting from 08/01/2015 in addition to increasing the tax on employees' salaries and imposing a new tax on their allowances,
which means carrying the majority of citizens (who are employees) a double financial burden not commensurate with the status of living of the citizens, in addition to government guidelines apply the electricity tariff and the gradual lifting fuel subsidies and other measures.
OOTW: SO THESE PEOPLE ARE BEING TAXED IN EVERY DIRECTION, FROM ALL SIDES AND THIS STATE CANNOT BE SUSTAINED AT THIS RATE
OOTW: FIGURATIVELY AND LITERALLY
OOTW: 8. The gradient in the direction of fiscal and monetary decisions is an important and necessary but not to take this into account and take a big surprise decisions at high rates creates a negative impact on economic activity and the business environment.
The devaluation of the exchange rate of the dinar by 30% - as proposed - is a very high percentage confuse all economic conditions in all sectors.
The central bank has increased this year, the dollar exchange rate, which buys of Finance from 1166 to 1180 dinars, and can continue to amendment depending on the circumstances at rates not confuse the situation.
We believe that the possible solutions to address the financial challenges faced by Iraq are in the following frames (without going into the details of each proposal): -
OOTW: THE ABOVE PARAGRAPH IS A PRECURSOR TO THE SOLUTIONS - THE PRIOR/ABOVE LIST, WAS THE STATE AS IT EXISTS - CONTINUING ON....
OOTW: 1. Comprehensive reform of the tax authorities, and that can save billions of dollars a year, with the assignment of customs collections in all ports to international companies specialized in investment. Frame
OOTW: MAKE THE IMPORTERS ACCOUNTABLE TO PAY THEIR CUSTOMS/TAXES
OOTW: THUS GENERATING A CONSISTENT REVENUE STREAM
OOTW: 2. Stimulate and activate tools and market domestic debt, through the issuance of bonds and traded in the market, which is a source basis for funding in most countries of the world,
given that the central bank proposed to the government and the national bond issue worth 5 trillion dinars and local bonds, dollar futures against the dinar worth $ 5 billion,
The government agreed on it has been assigned versions Bank manages on behalf of the government and will soon in the market.
OOTW: THIS IS RESTATING WHAT WE ALREADY KNOW ABOUT THE BONDS
OOTW: 3. A comprehensive survey of real estate State (land and buildings), leased and vacant Akiemha and revenues from rental or leasing or other, to study them and take appropriate action on the lease, sell or invest, to maximize possible resources of exploited economically and efficiently.
OOTW: WE KNOW THAT MANY PARCELS OF LAND HAVE BEEN GIVEN AWAY TO CORRUPT OFFICIALS OR THOSE IN POWER
OOTW: IN THE PAST TWO WEEKS, WE'VE SEEN LEGISLATION DESIGNED TO REGAIN THESE LANDS, AS WELL AS FURTHER REGULATIONS GOVERNING THE ACQUISITION OF PROPERTIES,
AND HOW THEY SHOULD SOLD, VALUED, ETC - AND ABOUT THE REALLOCATION OF RECOVERED PROPERTIES TO THEIR RIGHTFUL OWNERS, AS WELL AS TO SELL TO PRIVATE INDIVIDUALS AND COMPANIES
OOTW: 4. Ending the financing of the state budget for the bodies self-funded (according to the laws) within a period not exceeding 5 years, any funding or support rate reduced by 20% annually until the departure of its funding or grants her from the general budget, note that the current annual allocations to those bodies and agencies amounting to trillions (JD).
OOTW: HERE THEY ARE STATING THAT THERE ARE "DUPLICATE" BUDGET ALLOCATIONS TO OFFICIAL INSTITUTIONS OR MINISTRIES, WHICH ALREADY HAVE HAD INSTALLED FUNDING ARRANGEMENTS - MEANING THAT THEY'RE GETTING DOUBLE THE MONIES AND THIS IS CAUSING A NOTICEABLE BURDEN TO IRAQ'S POCKET BOOK
OOTW: 5. Activation of what is stated in the General Budget Law for the year 2015, of allowing the government deferred payment projects worth $ 5 billion, to be strategic projects (limited in number and wide service) and managed a higher committee and a high degree of transparency.
OOTW: THEY PLAN TO INSTALL A COMMITTEE TO OVERSEE HOW BUDGET AND INFRASTRUCTURE MONIES ARE SPENT
OOTW: WE'VE SEEN MENTION OF THIS IN RECENT PAST
OOTW: 6. The application of tariff electricity consumption, taking into account the gradient in wages to focus on high consumption and to develop suitable for the consumption of the poor and middle-class wages, knowing that all accounts suggest the possibility of achieving an amount of $ 6 billion a year if they were those tariff application.
OOTW: WELL HERE THEY'RE SAYING THAT THE COLLECTION OF ELECTRICITY TARIFFS WILL CONTRIBUTE TO FILL IRAQ'S COFFERS,
HOWEVER, HERE AGAIN, WE HAVE REPEAT THAT THE PEOPLE CAN'T AFFORD THIS..THIS IS THE SUBTEXT
OOTW: 7. Reconsideration of support policies (such as ration card, fuel ...) so that went to the poor and limited income groups.
OOTW: BASICALLY AN ASSIGNMENT OF "WELFARE" ALLOCATIONS FOR THE POOR
OOTW: BUT...WHAT IS THE MEASURING CRITERIA TO BE "POOR" IN IRAQ?
OOTW: SEEMS LIKE MOST OF THE COUNTRY IS PRESENTLY
OOTW: 8. Activating the strategic promotion of the private sector which was approved by the government and keep track of their content carefully and diligently a task and accurate strategy and placed center after studies and discussions between all the parties of the government and the private sector and specialists.
OOTW: OKAY, OKAY, SO GET IT GOING ALREADY
OOTW: LOL
OOTW: I DON'T KNOW IF ANY OF YOU SAW TODAY, MY COMMENTS ABOUT MOHSEN/KEYWORDS?
OOTW: I POSTED UNDER BUTIFLDRM'S ARTICLE RE THE 75M CAP THAT HE'S FIXIN TO GET FIRED OVER THE LACK OF CONTROL OF THE AUCTIONS AND SUBSEQUENT CORRUPTION
OOTW: GUESS HE'S TRYING TO C.H.A...COVER HIS A**
OOTW: 9. Identify a number of major investment projects per year (for example, 10 projects), presented to the investment with a package of incentives and privileges and a sufficient amount of guarantees,
and assume a higher committee formed by the Council of Ministers to identify and promote these projects and supervise the stages of delivery and provide all means of support to them.
OOTW: IN OTHER WORDS..WE'RE GOING TO GAIN INVESTORS IN ORDER TO FACILITATE TEN BIG PROJECTS PER YEAR, TO BUILD OUR ECONOMY AND INFRASTRUCTURE
OOTW: 10. The resolution of public sector companies file a private money-losing ones, which have undergone studies and proposals and plans of years ago and it has become very necessary to the completion of self-determination, taking into account not damage the rhythm of the workers.
OOTW: PUBLIC SECTOR IS THE GOVERNMENT
OOTW: IDK IF YOU ALL REMEMBER, GOING BACK OVER A YEAR NOW, THE GOVERNMENT HAS BEEN GRADUALLY CONVERTING PUBLIC COMPANIES TO PRIVATE COMPANIES IN ORDER TO ATTAIN INVESTORS AND SUBSEQUENT FUNDING FOR PROJECTS
OOTW: SO THEY ARE STATING THEY WANT TO PROVIDE THESE INVESTORS WITH BETTER GUARANTEES
OOTW: 11. Benefit fast loans provided by the CBI industrial, agricultural and real estate sector, which amounts to 5 trillion dinars, where -With Alosv- not fired yet for the government's delay in the necessary instructions to launch determinants mode, note that the central bank also allocated $ 1 trillion dinars to finance projects Small private banks through lending.
OOTW: THIS IS ALL GOOD, BUT THE GOVERNMENT HAS TO ACTUALLY DISTRIBUTE THESE MONIES...THEY'VE BEEN SAYING FOR A MONTH NOW, THAT THEY'RE GOING TO DO THIS...OKAY..GET IT IN GEAR
OOTW: 12. The need to resolve lagging government projects that have been paying large sums them without complete file, much of which has been included for years, and we see the need for the Council of Ministers to form a committee to review the situation of these projects and ways to accomplish or re amounts, as we see it is necessary to be not insert delete or replace projects only through submission to the Council of Ministers, and be the first choice for the implementation of investment by the private sector first.
OOTW: WE KNOW, THIS GOES BACK TO THE BEGINNING OF THE MALIKI ERA
OOTW: MALIKI: 'YEAH, YEAH...WE HAVE BIG PROJECT GOING TO HELP THE PEOPLE AND WE NEED ALL THE MONEY WE CAN GET, ESP FROM THE CBI..OH, THANK YOU FOR THAT BIG CHUNK OF CHANGE, CBI!" AND OFF MALIKI AND CREW WOULD GO WITH THE MONEY
OOTW: GUESS WHAT?
OOTW: IN ORDER TO FORM THIS COMMITTEE TO OVERSEE THE SPENDING ON THESE BIG PROJECTS....
OOTW: THEY HAVE TO ......
OOTW: ADDRESS CORRUPTION
OOTW: HERE ARE SOME EXCERPTS FROM THE ARTICLE - THEY ARE TALKING ABOUT THE CURRENT PROBLEMS IN THE FIRST PART OF THIS REPORT - AFTERWARDS, THE ARTICLE ADDRESSES THE "FIXES".
OOTW: "In any case, the proposed reduction rate of the dinar against the dollar mired with many of the observations and cons can highlight the most important as follows:
OOTW: a. The reduction in the exchange rate of local currency, which is taken by States usually associated with the availability of the following (Policy Terms, conditions is available in the case of Iraq):
OOTW: A-requires a flexibility in demand for imports, which means that the increase in the exchange rate for foreign currency will lead to reduced demand for imports (due to the high price tag), and this flexibility is available to the absence of national production base, leading to a negative result ,
where higher amounts spent in national currency on imported goods and thus increase the demand for foreign currency, leading to further deterioration in the balance of payments.
OOTW: A-requires a flexibility in demand for imports, which means that the increase in the exchange rate for foreign currency will lead to reduced demand for imports (due to the high price tag), and this flexibility is available to the absence of national production base, leading to a negative result ,
where higher amounts spent in national currency on imported goods and thus increase the demand for foreign currency, leading to further deterioration in the balance of payments.
OOTW: reducing the lead of the national currency exchange rate to reduce production costs, including wages are based, and this is not available or possible in the circumstances of the country political, social and security.
OOTW: WE KEEP SEEING THIS , OVER AND OVER AND OVER..FOR YEARS NOW "and this is not available or possible in the circumstances of the country political, social and security. "
OOTW: "REDUCING THE LEAD OF THE NATIONAL CURRENCY"
OOTW: THIS LINE IN COMPARISON WITH THE TITLE OF THE ARTICLE, LEADS ME TO BELIEVE THEY ARE SIMULTANEOUSLY STATING THAT THE DINAR HAS LOST ITS RIGHTFUL LEAD POSITION IN THE IRAQI ECONOMY - AS WELL AS A POSSIBLE IMPLICATION THAT THE LEAD ZEROES MAY NEED TO BE REMOVED, THUS ADDING VALUE
OOTW: 2. Unlike the report by some of the gentlemen of the proposed terms of the amount can be calculated provided the balance of the exchange rate difference,
which was appreciated by 15 trillion dinars, the correct account in the light of the actual amount of dollars purchased by the central bank and Ministry of Finance
(excluding repayments Financial commitments in dollars, such as oil, electricity, defense, foreign and reimbursements assuming projects that all other ministries and projects for Initiating an obligation to the dollar with that assumption is unrealistic),
the correct amount can be made available for this year to exceed 5 trillion dinars and next year will be up to 10 trillion dinars in the best the possibilities, and this is the difference –
who will pay the price of Iraqi citizens - can be supplied from other alternatives and those alternatives not only provide large sums of money, but check economic and financial task purposes in the short and long term.
OOTW: IN EFFECT THEY'RE STATING THE CITIZENS NEED BUYING POWER
OOTW: HERE THEY ARE STATING THAT REVENUE CAN BE GENERATED TO OFFSET THE REDUCED VALUE OF THE IQD –
On the other hand, the fulfillment of financial obligations to the oil companies will contribute to the increase in revenues, where the addition of every 100 thousand barrels of oil extracted and the source increases revenue by about $ 2 billion (assuming the price of a barrel to $ 50).
There is considerable scope for increasing oil production as well as gas if what has financial obligations file management in favor of the companies producing oil and gas.
OOTW: PLEASE BEAR WITH ME, THIS IS NOT THE BEST TRANSLATION
OOTW: SO FOR THIS NEXT PART..TODAY BUTIFLDRM POSTED AN ARTICLE INDICATING THAT THE AUCTION CAP OF 75M NEEDED TO BE REINFORCED/REINSTITUTED - BECAUSE OF THE CORRUPTION
OOTW: "3. The proposal put two prices for the disbursement of the dinar, one low and one high allocated to cover essential needs (in order not to influence the citizen's task and sectors), such as food and medicine supplies Industry, agriculture and others, the proposal impractical and creates chaos and exploitation and corruption,
where the reality of ports and customs authorities can not be to extend the application of a sound proposal, and we have experiences in this field,
in which the instructions and controls turned into a means of blackmail and corruption and pour all in the interest of the corrupt lead to operations manipulation and rigging wide . "
OOTW: WELL, THE WHOLE REASON TAMIMI HAD THE 75M CAP ADDED TO THE AUCTIONS, VIA THE BUDGET - WHICH SJC OVERTURNED, WAS JUST FOR THIS VERY PROBLEM
OOTW: TO CONTROL THE CORRUPTION
OOTW: YET MOHSEN/KEYWORDS IS THE ONE WHO FILED THE SUIT TO HAVE THIS CAP REMOVED...AND AGAIN, NOW WE SEE THAT LITTLE CONTROLS EXIST (NOW, AS RESULT) TO MONITOR THE CORRUPTION
OOTW: ONE HAS TO THINK THAT THE SJC IS JUST LETTING MOHSEN/KEYWORDS..GET AWAY WITH THE CORRUPTION, BY PROXY OF THE ELIMINATION OF THE 75M AUCTION CAP
OOTW: THIS NEXT QUOTE IS A FORMER SUGGESTION - AND AN EXPLANATION AS TO WHY THIS WILL NOT WORK...."4-The lifting of the dollar exchange rate to 1,500 dinars (as proposed) means reduced purchasing power of citizens by 30%, in addition to cases of exploitation and loss of control over the market,
which adds another increase, and this increase in prices is too high under the current circumstances where the limited income of the vast proportion of citizens in addition to unemployment and high poverty rates,
as well as Cairo conditions experienced by millions of displaced people living humane difficult circumstances and resources barely sufficient to feed life and will be the beneficiary layer of traders and speculators. "
OOTW: THE ABOVE IS STATING THAT THE STREET MARKETEERS (CURRENCY DEALERS...BIG TOPIC THIS WEEK Wink - TAKE ADVANTAGE OF PEOPLE BY CHARGING TOO MANY DINARS TO BUY DOLLARS
OOTW: ESPECIALLY IN IMPOVERISHED AREAS
OOTW: HERE THEY ARE SAYING THAT THE RICH ARE THRIVING IN THESE CONDITIONS - "5. The damage to raise the exchange rate and thus prices the public pays the price citizens with low-income equally borne by those with high incomes,
which increases the phenomenon of large class differences, in the absence of tax policy reduce those differences, and make changes in the price structure and others are in favor of that layer. "
OOTW: A WAY FOR THEM TO ADDRESS THIS IS TO IMPLEMENT, ACROSS THE BOARD TAXES - HOWEVER, WHAT'S THIS GOING TO DO TO THE POOR?
OOTW: EXACTLY...CAUSE EVEN MORE TOIL AND STRIFE FOR THEM
OOTW: WHEN THEY CAN'T PAY THE TAXES
OOTW: HOW ARE THEY GOING TO BUY NECESSITIES?
OOTW: AGAIN, CIRCLES BACK TO THE EXISTING LIMITATIONS OF BUYING POWER
OOTW: The absence of the function of tax policy in the redistribution of income through taxation, according to real incomes to be re-distributed to citizens with limited income and poor through various means of support and services, this absence deepens the risk of lowering the exchange rate of the dinar.
OOTW: IN THIS INSTANCE, THEY'RE STATING THAT THIS CONDITION THREATENS TO CAUSE THE AVERAGE CITIZEN TO BE CHARGED EVEN MORE DINARS TO BUY DOLLARS. - AND ALSO, THE COST OF GOODS TO BE MORE EXPENSIVE - AS I STATED DIRECTLY ABOVE
OOTW: 6. The lifting of the exchange rate of the dollar by 30% mean reduction of assets and the value of investments Foreign such proportion that have been paid in dinars purchased in dollars at the time,
but even the Iraqi business sector is calculated found and investments denominated in dollars (for psychological reasons, historical and economic),
which generates serious repercussions of concern and hedge fears. extends the impact to the level of citizens who are used to assess their assets and their properties and their property on the basis of the dollar,
leading to raise Akiemha the national currency, and holds a clientele for it to rise, such as property buyers for residential or commercial purposes.
OOTW: SO THEY ARE SAYING THAT AS RESULT OF THE LACK OF THE CONFIDENCE IN THE DINAR, THAT PEOPLE HAVE RETAINED DOLLARS, BUT ALSO THE "MYTHOLOGY" OF THE POWER OF THE DOLLAR IN THE NATIONAL ECONOMIC PSYCHE
OOTW: AND THIS IS CAUSING A PROBLEM..HOW DO THEY OVERCOME THIS..COMBAT IT?
OOTW: IDEOLOGICALLY, THROUGH "ELEVATING" THE POSITION OF THE DINAR
OOTW: 7. The lifting of exchange rate policy when they follow to serve as a tax on Local-income as in the proposed increase, must be accompanied by a re-look at the direct and indirect taxes toward mitigate or reduce them,
it is not logical to impose taxes along with the increase in the exchange rate as it means a reduction of per capita income or purchasing power from both sides,
and it should be noted here that the government decided to apply the law tariff starting from 08/01/2015 in addition to increasing the tax on employees' salaries and imposing a new tax on their allowances,
which means carrying the majority of citizens (who are employees) a double financial burden not commensurate with the status of living of the citizens, in addition to government guidelines apply the electricity tariff and the gradual lifting fuel subsidies and other measures.
OOTW: SO THESE PEOPLE ARE BEING TAXED IN EVERY DIRECTION, FROM ALL SIDES AND THIS STATE CANNOT BE SUSTAINED AT THIS RATE
OOTW: FIGURATIVELY AND LITERALLY
OOTW: 8. The gradient in the direction of fiscal and monetary decisions is an important and necessary but not to take this into account and take a big surprise decisions at high rates creates a negative impact on economic activity and the business environment.
The devaluation of the exchange rate of the dinar by 30% - as proposed - is a very high percentage confuse all economic conditions in all sectors.
The central bank has increased this year, the dollar exchange rate, which buys of Finance from 1166 to 1180 dinars, and can continue to amendment depending on the circumstances at rates not confuse the situation.
We believe that the possible solutions to address the financial challenges faced by Iraq are in the following frames (without going into the details of each proposal): -
OOTW: THE ABOVE PARAGRAPH IS A PRECURSOR TO THE SOLUTIONS - THE PRIOR/ABOVE LIST, WAS THE STATE AS IT EXISTS - CONTINUING ON....
OOTW: 1. Comprehensive reform of the tax authorities, and that can save billions of dollars a year, with the assignment of customs collections in all ports to international companies specialized in investment. Frame
OOTW: MAKE THE IMPORTERS ACCOUNTABLE TO PAY THEIR CUSTOMS/TAXES
OOTW: THUS GENERATING A CONSISTENT REVENUE STREAM
OOTW: 2. Stimulate and activate tools and market domestic debt, through the issuance of bonds and traded in the market, which is a source basis for funding in most countries of the world,
given that the central bank proposed to the government and the national bond issue worth 5 trillion dinars and local bonds, dollar futures against the dinar worth $ 5 billion,
The government agreed on it has been assigned versions Bank manages on behalf of the government and will soon in the market.
OOTW: THIS IS RESTATING WHAT WE ALREADY KNOW ABOUT THE BONDS
OOTW: 3. A comprehensive survey of real estate State (land and buildings), leased and vacant Akiemha and revenues from rental or leasing or other, to study them and take appropriate action on the lease, sell or invest, to maximize possible resources of exploited economically and efficiently.
OOTW: WE KNOW THAT MANY PARCELS OF LAND HAVE BEEN GIVEN AWAY TO CORRUPT OFFICIALS OR THOSE IN POWER
OOTW: IN THE PAST TWO WEEKS, WE'VE SEEN LEGISLATION DESIGNED TO REGAIN THESE LANDS, AS WELL AS FURTHER REGULATIONS GOVERNING THE ACQUISITION OF PROPERTIES,
AND HOW THEY SHOULD SOLD, VALUED, ETC - AND ABOUT THE REALLOCATION OF RECOVERED PROPERTIES TO THEIR RIGHTFUL OWNERS, AS WELL AS TO SELL TO PRIVATE INDIVIDUALS AND COMPANIES
OOTW: 4. Ending the financing of the state budget for the bodies self-funded (according to the laws) within a period not exceeding 5 years, any funding or support rate reduced by 20% annually until the departure of its funding or grants her from the general budget, note that the current annual allocations to those bodies and agencies amounting to trillions (JD).
OOTW: HERE THEY ARE STATING THAT THERE ARE "DUPLICATE" BUDGET ALLOCATIONS TO OFFICIAL INSTITUTIONS OR MINISTRIES, WHICH ALREADY HAVE HAD INSTALLED FUNDING ARRANGEMENTS - MEANING THAT THEY'RE GETTING DOUBLE THE MONIES AND THIS IS CAUSING A NOTICEABLE BURDEN TO IRAQ'S POCKET BOOK
OOTW: 5. Activation of what is stated in the General Budget Law for the year 2015, of allowing the government deferred payment projects worth $ 5 billion, to be strategic projects (limited in number and wide service) and managed a higher committee and a high degree of transparency.
OOTW: THEY PLAN TO INSTALL A COMMITTEE TO OVERSEE HOW BUDGET AND INFRASTRUCTURE MONIES ARE SPENT
OOTW: WE'VE SEEN MENTION OF THIS IN RECENT PAST
OOTW: 6. The application of tariff electricity consumption, taking into account the gradient in wages to focus on high consumption and to develop suitable for the consumption of the poor and middle-class wages, knowing that all accounts suggest the possibility of achieving an amount of $ 6 billion a year if they were those tariff application.
OOTW: WELL HERE THEY'RE SAYING THAT THE COLLECTION OF ELECTRICITY TARIFFS WILL CONTRIBUTE TO FILL IRAQ'S COFFERS,
HOWEVER, HERE AGAIN, WE HAVE REPEAT THAT THE PEOPLE CAN'T AFFORD THIS..THIS IS THE SUBTEXT
OOTW: 7. Reconsideration of support policies (such as ration card, fuel ...) so that went to the poor and limited income groups.
OOTW: BASICALLY AN ASSIGNMENT OF "WELFARE" ALLOCATIONS FOR THE POOR
OOTW: BUT...WHAT IS THE MEASURING CRITERIA TO BE "POOR" IN IRAQ?
OOTW: SEEMS LIKE MOST OF THE COUNTRY IS PRESENTLY
OOTW: 8. Activating the strategic promotion of the private sector which was approved by the government and keep track of their content carefully and diligently a task and accurate strategy and placed center after studies and discussions between all the parties of the government and the private sector and specialists.
OOTW: OKAY, OKAY, SO GET IT GOING ALREADY
OOTW: LOL
OOTW: I DON'T KNOW IF ANY OF YOU SAW TODAY, MY COMMENTS ABOUT MOHSEN/KEYWORDS?
OOTW: I POSTED UNDER BUTIFLDRM'S ARTICLE RE THE 75M CAP THAT HE'S FIXIN TO GET FIRED OVER THE LACK OF CONTROL OF THE AUCTIONS AND SUBSEQUENT CORRUPTION
OOTW: GUESS HE'S TRYING TO C.H.A...COVER HIS A**
OOTW: 9. Identify a number of major investment projects per year (for example, 10 projects), presented to the investment with a package of incentives and privileges and a sufficient amount of guarantees,
and assume a higher committee formed by the Council of Ministers to identify and promote these projects and supervise the stages of delivery and provide all means of support to them.
OOTW: IN OTHER WORDS..WE'RE GOING TO GAIN INVESTORS IN ORDER TO FACILITATE TEN BIG PROJECTS PER YEAR, TO BUILD OUR ECONOMY AND INFRASTRUCTURE
OOTW: 10. The resolution of public sector companies file a private money-losing ones, which have undergone studies and proposals and plans of years ago and it has become very necessary to the completion of self-determination, taking into account not damage the rhythm of the workers.
OOTW: PUBLIC SECTOR IS THE GOVERNMENT
OOTW: IDK IF YOU ALL REMEMBER, GOING BACK OVER A YEAR NOW, THE GOVERNMENT HAS BEEN GRADUALLY CONVERTING PUBLIC COMPANIES TO PRIVATE COMPANIES IN ORDER TO ATTAIN INVESTORS AND SUBSEQUENT FUNDING FOR PROJECTS
OOTW: SO THEY ARE STATING THEY WANT TO PROVIDE THESE INVESTORS WITH BETTER GUARANTEES
OOTW: 11. Benefit fast loans provided by the CBI industrial, agricultural and real estate sector, which amounts to 5 trillion dinars, where -With Alosv- not fired yet for the government's delay in the necessary instructions to launch determinants mode, note that the central bank also allocated $ 1 trillion dinars to finance projects Small private banks through lending.
OOTW: THIS IS ALL GOOD, BUT THE GOVERNMENT HAS TO ACTUALLY DISTRIBUTE THESE MONIES...THEY'VE BEEN SAYING FOR A MONTH NOW, THAT THEY'RE GOING TO DO THIS...OKAY..GET IT IN GEAR
OOTW: 12. The need to resolve lagging government projects that have been paying large sums them without complete file, much of which has been included for years, and we see the need for the Council of Ministers to form a committee to review the situation of these projects and ways to accomplish or re amounts, as we see it is necessary to be not insert delete or replace projects only through submission to the Council of Ministers, and be the first choice for the implementation of investment by the private sector first.
OOTW: WE KNOW, THIS GOES BACK TO THE BEGINNING OF THE MALIKI ERA
OOTW: MALIKI: 'YEAH, YEAH...WE HAVE BIG PROJECT GOING TO HELP THE PEOPLE AND WE NEED ALL THE MONEY WE CAN GET, ESP FROM THE CBI..OH, THANK YOU FOR THAT BIG CHUNK OF CHANGE, CBI!" AND OFF MALIKI AND CREW WOULD GO WITH THE MONEY
OOTW: GUESS WHAT?
OOTW: IN ORDER TO FORM THIS COMMITTEE TO OVERSEE THE SPENDING ON THESE BIG PROJECTS....
OOTW: THEY HAVE TO ......
OOTW: ADDRESS CORRUPTION
OOTW: BIG ANNOUNCEMENT TODAY FROM THE COM THAT THEY'RE GOING TO "RELEASE PERMISSION" TO PROSECUTE THE GUILTY
OOTW: 13. Seek to get support and help countries that share Iraq in its attitude towards terrorism by moving them to finance Iraq's reconstruction fund, and is a national team of the three presidencies liaise with these countries and encourage them to contribute to the mitigation of the destruction and devastation caused by terrorism.
OOTW: THIS IS FANTASTIC AND HAS BEEN ONGOING SINCE ABADI TOOK OFFICE
OOTW: REMEMBER HIS INTERVIEW AT THE KOBER INSTITUTE?
OOTW: HE ASSURED THE INTERNATIONAL COMMUNITY THAT THROUGH THEIR HELP ADDRESSING TERRORISM, THAT THEY COULD BE ASSURED A RETURN ON THEIR INVESTMENTS IN IRAQ
OOTW: 14. Development of a medium-term plan, to restructure the government and higher authorities and local administrations, thus alleviating the administrative sag and reduces costs and increases the efficiency and productivity, and poses for the national team purpose of professionals as well as academics and international consulting firms, that studies and proposals are not subject to political considerations or interests contradict and goals of that plan.
OOTW: IN EFFECT, A RESTRUCTURING OF THE GOVERNMENT SET UP, ALLOWING A SEPARATION BETWEEN POLITICS AND INVESTMENT
OOTW: I HAVE TO WONDER IF THE FEDERATION COUNCIL WAS IN FACT FUNCTIONING, COULD IRAQ STILL ATTAIN THIS ASPIRATION?
OOTW: HMMMM...NOT SURE ON THAT ONE...THE FEDERATION COUNCIL IS STILL QUITE A CONTENTIOUS ISSUE
OOTW: 15. Reconsider system of supervision and inspection and integrity in the light of the experience of the past years, and to identify strengths and weaknesses in their work and ways to improve their roles, leading to a real and effective and efficient for the phenomena of corruption fight.
OOTW: YEP, THEY'RE ADDRESSING THIS - MAKING SURE THAT PEOPLE ARE ACTUALLY QUALIFIED FOR THEIR POSITIONS
OOTW: HERE IS THE CONCLUDING PARAGRAPH
OOTW: Here, we refer to we have given some time ago to the Cabinet a proposal to abolish offices of inspectors general, and replace it with one office be at the national level, and represents the Council of Ministers arm in control and is associated with the Prime Minister,
the executive power tool to be in control of themselves, and without subjecting it to the impacts and pressures of the ministries and departments which shall control,
as we suggested characterization or tasks for the work of that office selected aspects of mission and essential without immersion in the details or the tasks that are the responsibility of the internal or external control devices.
OOTW: AGAIN, THEY NEED A GOVERNING BODY FOR THE GOVERNMENT - WHICH IS OUTSIDE OF INTERNAL AND EXTERNAL REGULATIONS
OOTW: UGH...JUST DO IT
OOTW: LOL
OOTW: ALTHOUGH THIS ARTICLE MAKES IT SEEM AS IF THEY'VE A LONG WAY TO GO...TRULY, MUCH OF THIS HAS BEEN , OR IS ALREADY BEING WORKED ON....MOHSEN/KEYWORDS, IS SIMPLY STATING WHAT WE NEED TO SEE, IN ESTIMATION, BEFORE THE DINAR CAN RETURN TO ITS FORMER STATUS
OOTW: DO NOT LOSE HEART, THIS IS ALL BEING WORKED ON
sczin11: TY O O T W... WHAT A GREAT REPORT
OOTW: AGAIN...I'M SORRY I HAVE TO REPEAT THIS, BUT IMHO, OUR HOLDING IN THE DINAR - AND THE FORWARD MOVEMENT OF WATCHING FOR AN INCREASE IN THE VALUE...REALLY JUST GOT STARTED IN SEPTEMBER, LAST.
OOTW: WE TRULY ARE MAKING GREAT PROGRESS..PLEASE EVERYONE, BE PATIENT....
I COULDN'T BE HAPPIER, SEEING THE OUTLINED STEPS COMING FROM KEYWORDS, AND ALSO, THIS IS PROBABLY A RESTATING OF THE SIMILAR, FROM THE CBI SITE, WHICH WE SAW IN JULY.
OOTW: THIS ARTICLE BEING RELEASED, IS A RE-COMMITMENT, ISSUED TO THE PUBLIC, THAT THE CBI IS AWARE OF THE STRAIN ON THE PEOPLE, AND THEY IN FACT, HAVE A PLAN TO CORRECT THIS
OOTW: IF IRAQI'S GET BUYING POWER..SO DO WE
OOTW: SIDENOTE: THE DIFFERENCE BETWEEN THIS ARTICLE FROM ALMADA AND ANYTHING SIMILAR, FROM SAY, ALSABAAH - IS THAT ALSABAAH'S ARTICLES ARE GENERALLY AN OPINION FROM AN ECONOMIST AS TO WHAT NEEDS TO BE DONE.....NOT WHAT IS IS IS BEING DONE
OOTW: IT'S OK
OOTW: THIS IS IS IS, WHAT IS BEING DONE
Comments may be made at the end of Part 2 Thank You
OOTW: 13. Seek to get support and help countries that share Iraq in its attitude towards terrorism by moving them to finance Iraq's reconstruction fund, and is a national team of the three presidencies liaise with these countries and encourage them to contribute to the mitigation of the destruction and devastation caused by terrorism.
OOTW: THIS IS FANTASTIC AND HAS BEEN ONGOING SINCE ABADI TOOK OFFICE
OOTW: REMEMBER HIS INTERVIEW AT THE KOBER INSTITUTE?
OOTW: HE ASSURED THE INTERNATIONAL COMMUNITY THAT THROUGH THEIR HELP ADDRESSING TERRORISM, THAT THEY COULD BE ASSURED A RETURN ON THEIR INVESTMENTS IN IRAQ
OOTW: 14. Development of a medium-term plan, to restructure the government and higher authorities and local administrations, thus alleviating the administrative sag and reduces costs and increases the efficiency and productivity, and poses for the national team purpose of professionals as well as academics and international consulting firms, that studies and proposals are not subject to political considerations or interests contradict and goals of that plan.
OOTW: IN EFFECT, A RESTRUCTURING OF THE GOVERNMENT SET UP, ALLOWING A SEPARATION BETWEEN POLITICS AND INVESTMENT
OOTW: I HAVE TO WONDER IF THE FEDERATION COUNCIL WAS IN FACT FUNCTIONING, COULD IRAQ STILL ATTAIN THIS ASPIRATION?
OOTW: HMMMM...NOT SURE ON THAT ONE...THE FEDERATION COUNCIL IS STILL QUITE A CONTENTIOUS ISSUE
OOTW: 15. Reconsider system of supervision and inspection and integrity in the light of the experience of the past years, and to identify strengths and weaknesses in their work and ways to improve their roles, leading to a real and effective and efficient for the phenomena of corruption fight.
OOTW: YEP, THEY'RE ADDRESSING THIS - MAKING SURE THAT PEOPLE ARE ACTUALLY QUALIFIED FOR THEIR POSITIONS
OOTW: HERE IS THE CONCLUDING PARAGRAPH
OOTW: Here, we refer to we have given some time ago to the Cabinet a proposal to abolish offices of inspectors general, and replace it with one office be at the national level, and represents the Council of Ministers arm in control and is associated with the Prime Minister,
the executive power tool to be in control of themselves, and without subjecting it to the impacts and pressures of the ministries and departments which shall control,
as we suggested characterization or tasks for the work of that office selected aspects of mission and essential without immersion in the details or the tasks that are the responsibility of the internal or external control devices.
OOTW: AGAIN, THEY NEED A GOVERNING BODY FOR THE GOVERNMENT - WHICH IS OUTSIDE OF INTERNAL AND EXTERNAL REGULATIONS
OOTW: UGH...JUST DO IT
OOTW: LOL
OOTW: ALTHOUGH THIS ARTICLE MAKES IT SEEM AS IF THEY'VE A LONG WAY TO GO...TRULY, MUCH OF THIS HAS BEEN , OR IS ALREADY BEING WORKED ON....MOHSEN/KEYWORDS, IS SIMPLY STATING WHAT WE NEED TO SEE, IN ESTIMATION, BEFORE THE DINAR CAN RETURN TO ITS FORMER STATUS
OOTW: DO NOT LOSE HEART, THIS IS ALL BEING WORKED ON
sczin11: TY O O T W... WHAT A GREAT REPORT
OOTW: AGAIN...I'M SORRY I HAVE TO REPEAT THIS, BUT IMHO, OUR HOLDING IN THE DINAR - AND THE FORWARD MOVEMENT OF WATCHING FOR AN INCREASE IN THE VALUE...REALLY JUST GOT STARTED IN SEPTEMBER, LAST.
OOTW: WE TRULY ARE MAKING GREAT PROGRESS..PLEASE EVERYONE, BE PATIENT....
I COULDN'T BE HAPPIER, SEEING THE OUTLINED STEPS COMING FROM KEYWORDS, AND ALSO, THIS IS PROBABLY A RESTATING OF THE SIMILAR, FROM THE CBI SITE, WHICH WE SAW IN JULY.
OOTW: THIS ARTICLE BEING RELEASED, IS A RE-COMMITMENT, ISSUED TO THE PUBLIC, THAT THE CBI IS AWARE OF THE STRAIN ON THE PEOPLE, AND THEY IN FACT, HAVE A PLAN TO CORRECT THIS
OOTW: IF IRAQI'S GET BUYING POWER..SO DO WE
OOTW: SIDENOTE: THE DIFFERENCE BETWEEN THIS ARTICLE FROM ALMADA AND ANYTHING SIMILAR, FROM SAY, ALSABAAH - IS THAT ALSABAAH'S ARTICLES ARE GENERALLY AN OPINION FROM AN ECONOMIST AS TO WHAT NEEDS TO BE DONE.....NOT WHAT IS IS IS BEING DONE
OOTW: IT'S OK
OOTW: THIS IS IS IS, WHAT IS BEING DONE
Comments may be made at the end of Part 2 Thank You
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