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Wednesday, August 26, 2015

Wealthwatch OOTW Noon Chat  8-26-15

Post From Wealthwatch.world Chat Room 8-26-15
Wealthwatch OOTW Noon Chat  8-26-15


chattels: How a Currency Crisis in Iraq Risks Fight Against Islamic State

chattels: wealthwatch.world/showthr... http://ift.tt/1KlBHoA

Doug_W: if U can't pay 4 arms U don't get them

chattels: A foreign-exchange crunch because of a drop in oil prices could force a devaluation of the dinar and risk making the fight against Islamic State militants even tougher. The nation, currently OPEC’s biggest producer after Saudi Arabia, is dependent on oil revenue to fund its operations on the battlefield and quell growing unrest over the economy.

chattels: Dollar reserves tumbled about 20 percent to $59 billion as of July 23 since the fighting escalated a year before, and the losses are accelerating. In the first 25 days of August, the central bank sold $4.6 billion of currency to keep the dinar at a pegged rate, a daily outflow of about $184 million, data compiled by Bloomberg show.
~~~
chattels: “Iraq’s perfect storm means the country will continue to lose reserves until the government of Iraq decides to devalue the dinar,” said Frank Gunter, author of “The Political Economy of Iraq.” The currency could weaken as much as 20 percent over the next year, he said.

Doug_W: that IF true is NOT good

Fit2beFit: until the government of Iraq decides to devalue the dinar

chattels: A collapse in the value of the dinar would raise the cost of living for Iraqis already protesting against government corruption, power cuts and water shortages.

chattels: The Iraqi central bank’s fixes the dinar’s exchange rate at 1,166 per dollar and there’s pressure on the peg. As a result, Iraq’s foreign-currency reserves may drop to about $45 billion by the end of 2016, according to Exotix Partners LLP, a London-based investment firm specializing in frontier markets.

“The authorities will try to hold on to the peg as long as possible, but may be forced to devalue if pressures continue,” said Jakob Christensen, a director at Exotix.

chattels: The central bank has so far resisted government pressure to print money to meet an estimated$30 billion budget deficit. It announced plans for a $6 billion bond program last week, which follows about $1.2 billion from the International Monetary Fund, though neither is big enough to plug the shortfall.

chattels: That leaves the Finance Ministry with few easy choices. The government is seeking to cut spending and tackle corruption. Other options include borrowing domestically from public banks or even forcing the central bank to buy dollar-denominated bonds from the Finance Ministry, said Gunter.

chattels: “Iraq will be able to finance its 2015 deficit, but if the battle against Islamic State and low oil prices continues, Iraq will then hit a wall,” he said.

chattels: wealthwatch.world/showthr...  http://ift.tt/1KlBHoA

Doug_W: well that was a flowery report NOT

chattels: INCREASINGLY I FIND MYSELF ASKING, " DO YOU FEEL LUCKY ? " - " WELL DO YOU, PUNK ? "

Doug_W: I say "Make my day"

Fit2beFit: Iraq news about what we want to shuffle thru on where we stand is like playing pin the tail on the donkey, and always will ne untiul the time comes

Fit2beFit: Otherwise I would love to see and read the person who knows for sure 100% what is needed to be done, passed, approved, etc, cause no one knows the exacts

chattels: THE REALITY IS THAT OUR EVENT MAY NOT HAPPEN AT ALL

Fit2beFit: Reality is the conjectured state of things as they actually exist, rather than as they may appear or might be imagined. In a wider definition, reality includes everything that is and has been, whether or not it is observable or comprehensible.

Fit2beFit: There is NO REALITY as to whether this will...or..will not happen

chattels: ‹@Fit2beFit› whatever

OOTW: HI EVERYONE  - I JUST FOUND SOMETHING  --  IT'S VERY INTERESTING

THIS IS A PRESS RELEASE FROM THE MINISTRY OF TRANSPORTATION SITE

OOTW: THE FIRST "PASTE" WILL BE FROM GOOGLE

OOTW: National Committee for Transport and Trade Facilitation held its eighth meeting under the chairmanship of the technical agent of the Ministry Mr. Rikhany two banks on Wednesday approved twenty-sixth of August 2015 in the presence of a number of deputy ministers and heads of private sector associations members of the committee ...

 During the meeting, discuss and debate several topics and took the appropriate decisions and recommendations in respect thereof, including all fees and charges and taxes within the Republic of Iraq in Iraqi dinars instead of private transport and trade transactions of the US dollar are met.

Add to "discuss the highways investment compared to rehabilitate and maintain and sustain and complete the shortcomings Bastmrarhma were discussing the failure of traffic safety on the roads system inside Iraq about what is applicable in the countries of the region and the countries of the world and distancing itself from international standards.

 They also discussed the subject of the fourth regional workshop to facilitate transport and trade in Amman 16-17-5-2015 At the conclusion of the meeting some of the decisions of the National Committee discussed for its sixth meeting, held on the first of April 2015.

Mr. art dealer and gave a briefing to the Minister Syed most prominent themes that took place at the meeting and the results of the.

OOTW: BREAK

OOTW: QUOTING - PLEASE SEE THIS SECTION - "discuss and debate several topics and took the appropriate decisions and recommendations in respect thereof, including all fees and charges and taxes within the Republic of Iraq in Iraqi dinars instead of private transport and trade transactions of the US dollar are met."

OOTW: AT FIRST GLANCE IT COULD BE INTERPRETED THAT THERE IS CONFUSION AS TO WHETHER THEY WANT THE CUSTOMS/FEES/TARIFFS PAID IN DINAR OR DOLLARS

OOTW: IT'S JUST NOT CERTAIN IN THIS TRANSLATION

OOTW: HERE IS THE BING TRANSLATION

OOTW: The Commission held a national transport and trade facilitation eighth meeting under the chairmanship of the Ministry's technical agent Mr. rikani banks on Wednesday, the 26th of August 2015 and in the presence of a number of Deputy Ministers heads of federations of private sector members of the Committee.

 During the meeting discussed several topics discussed and taken appropriate decisions and recommendations with them including the fulfillment of all wages, fees and taxes in the Republic of Iraq in Iraqi dinars instead of us dollars for transport and trade transactions.

 In addition to "discuss investment vs. highway rehabilitation and maintenance and complete its shortcomings were discussed with continuation this underdeveloped road traffic safety system inside Iraq on what is applicable in the countries of the region and the world and deviating from IFRS.

They also discussed the topic of the fourth regional workshop to facilitate transport and trade in Oman 16-17-5-2015 at the conclusion of the meeting discussed some of the decisions of the National Commission for the sixth meeting held on 1 April 2015. Mr. agent technical brief for Minister highlighted the axes at the meeting and the findings.

OOTW: HERE IS THIS QUOTE FROM THE BING TRANSLATION OF THIS ARTICLE

OOTW: "During the meeting discussed several topics discussed and taken appropriate decisions and recommendations with them including the fulfillment of all wages, fees and taxes in the Republic of Iraq in Iraqi dinars instead of us dollars for transport and trade transactions. "

OOTW: THIS TRANSLATION SEEMS CLEAR TO ME

OOTW: AND TIES IN WITH THE ANNOUNCEMENTS FROM THE MINISTRY OF TRADE, AND THE MINISTRY OF TRANSPORT SITES, WHICH WE'VE SEEN OVER THE PAST MONTH, WHEREIN THEY DISCUSS FORMING A COMMITTEE TO ADDRESS THE REQUIREMENTS TO ASCEND TO FULL MEMBERSHIP TO THE WTO

OOTW: NOW....    HERE'S THIS QUOTE FROM THE BING TRANSLATION OF THIS ARTICLE - (PARTS OF WHICH ARE ALSO SEEN IN THE GOOGLE TRANSLATION)

OOTW: In addition to "discuss investment vs. highway rehabilitation and maintenance and complete its shortcomings were discussed with continuation this underdeveloped road traffic safety system inside Iraq on what is applicable in the countries of the region and the world and deviating from IFRS. "

OOTW: REMEMBER THAT LAST MONTH WE SAW AN UPLOAD AT THE PARLIAMENT SITE STATING THAT THE HOR PASSED A LAW TO REBUILD HIGHWAYS WITHIN UN AND EU STANDARDS FOR HIGHWAY CONSTRUCTION?

OOTW: THE PURPOSE OF THE LAW IS TO BUILD ROADS SO THAT THEY ARE SAFE FOR TRAFFIC TO PASS, AND ALSO ALLOW PEOPLE TO WALK ON THE SAME ROADS

OOTW: WE ALSO SAW THAT THE GOI WAS TO RECEIVE MONIES FROM RAPID CREDIT FUNDING AS AN EMERGENCY FUNDING TO HELP REBUILD ROADS?

OOTW: ALSO SEE THIS ACRONYM.... IFRS

OOTW: THIS IS WHAT THIS ACRONYM STANDS FOR....

OOTW: International Financial Reporting Standards

OOTW: ANY OF YOU , PLEASE FEEL FREE TO LOOK THIS UP ON THE WEB

OOTW: IT IS ALSO LISTED AS INTERNATIONAL FINANCIAL REPORTING SYSTEM

Doug_W: ty OO

OOTW: THERE HAS BEEN TALK FROM SHAMMARI OVER THE PAST YEAR OF IRAQ'S NEED TO DEPEG FROM THE DOLLAR, NOW, I'M NOT SURE THAT THIS MOTRANS PRESS RELEASE IS CONFIRMING THAT

 BUT HOW CAN THEY START CHARGING CUSTOMS TAXES AND FEES AND REQUIRE THAT IRAQI'S PAY IN DINAR SOLELY?

OOTW: THEY HAVE NO PURCHASING POWER AND HAVE BEEN USING THE DOLLAR TO EASE TRANSACTIONS

OOTW: I FIND THIS PRESS RELEASE FROM THE MOTRANS SITE VERY, VERY INTERESTING

[12:14:41 PM] Doug_W: not with out significant increase in value of Dinar

OOTW: "SIGNIFICANT" - IS RELATIVE AND WE SHALL HAVE TO WAIT AND SEE WHAT THEY FEEL IS SIGNIFICANT

Tootsie: Good Morning ~

Tootsie: ‹@OOTW› very nice article!

OOTW: YES IT IS TOOTSIE - GREAT TO SEE YOU  AND EVERYONE

this_is_it: ‹@OOTW› love it

Doug_W: that is why U used that word it is "nebulous

OOTW: YES THIS IS IT.....VERY VERY INTERESTING

Tootsie: Jubouri: [/font][font]Iraq[/font][font] is ready to overcome difficulties to host the Organization of Islamic Cooperation Conference[/font] 26 2015 13:16 Wednesday, 26 August 2015 13:16 Baghdad

The head of the House of Representatives [font]Saleem al-Jubouri,[/font] Wednesday, that [font]Iraq[/font] is ready to overcome all the difficulties to host a conference of the Parliamentary Union of the member countries of the Organization of Islamic Cooperation,

 noting the Foreign Minister of Mali to his country's keenness to enhance cooperation between the two countries. Jubouri said Office in a statement received Alsumaria News,[/font] that "the House Speaker Saleem al-Jubouri, received in his office, today Secretary General of the National Assembly in [font]the Republic of Mali[/font] and adviser to Foreign Affairs Madhu Diallo and his accompanying delegation,"

noting that "the two sides discussed ways to open new horizons for cooperation between the Iraq and the Republic of Mali at the parliamentary level. "

 He added that the office "has been discussed Parliament's efforts to host a conference of the Parliamentary Union of member states due to be held in the Organization of Islamic Cooperation [font]Baghdad[/font] next year."

 He said al-Jubouri, according to the statement, that "Iraq is ready to overcome all difficulties in order to host this conference in spite of the presence of many obstacles."

 He Jubouri that "there is a desire to have the participation of the largest possible number of countries in this conference," pointing out that "we have a feeling that the role of the African countries urged others in his presence."

For his part, Diallo said that "his country is keen to enhance cooperation between the two countries and at different areas." The body Presidency of the Council of Representatives member Hamoudi stressed, June 3, 2015, Iraq's readiness to host the Conference of the States Members of the Organization of Islamic Cooperation, CONT wealthwatch.world/show     http://ift.tt/1EXvR6S

sczin11: LET US NOT FORGET THE WTO REQUIREMENTS OF A UNIQUE CURRENCY.... THE IRAQI DINAR MUST BE INTERNATINALLY RECOGNIZED AND TRADED ACROSS THE BORDERS

OOTW: I WILL POST THIS CHAT IN THIS WEEK'S GOVT THREAD AND TODAY'S CHAT

disciple7: when are they pushing for the WTO status?

disciple7: or I guess they have been..

sczin11: ‹@disciple7› WITH THE TREMENDOUS FOCUS ON TARIFFS RECENTLY, AND THIS TRANSPORTATION RELEASE JUST DISCUSSED BY OOTW, IT WOULD SEEM THEY ARE CLOSER THAN FARTHER, JMHO

OOTW: DISCIPLE THE LAST OFFICIAL PRESS RELEASE I SAW ON THIS INDICATED THAT THEY'D BE MEETING WITH THE WTO TO REVIEW THEIR STANDING IN SPRING OF 2016

OOTW: I'M SORRY I DO NOT RECALL WHICH MONTH AND I DON'T WANT TO MIS STATE

disciple7: ‹@OOTW› do they need an internationally recognized currency before or after WTO status?

sczin11: ‹@disciple7› BEFORE...IS MY UNDERSTANDING

disciple7: ‹@sczin11› thank you sir

smurfette: well it looks like they prob won't get this done until 2016? I sure wished it would pop before end of this year. do you all think they will ever get it done?

disciple7: ‹@smurfette› yes

smurfette: I'm just having mixed emotions on this whole thing hubby keeps telling me quit being negative lol

MzDiva: I knew 2016 would be the year of the New Dinar rate then again no one really knows all we can do is read news and speculate

disciple7: ‹@MzDiva› agreed..
disciple7: i think we have a bit to go still    imo

MzDiva: ‹@disciple7› i think so too

MzDiva: 2015 is the year of the process

disciple7: im still hoping for 3.86 though.. idc what people say..
disciple7: ‹@MzDiva› agreeeeed  :smile:

smurfette: yeah I think it will come in the 3's also but if they ever get it done it will be a miracle lol

disciple7: imo.. imo.. imo.. 2017 - 2020 before we see 3+

Tootsie: heck, as I have mentioned umpteen times. I don't care what the rate is initially, just become a legal tender ~~ rate will take care of itself down the road

Tootsie: becoming legal tender is primo!

disciple7: agreed..

Doug_W: now many UMPS in umteen Toots?
Doug_W: l8R 7

Tootsie: ‹@Doug_W› haha, well, it is wednesday, so hmm ~ not sure  :pinch:

Doug_W: ok ty

Tootsie: not sure is this is a 2 hump camel day or a 1 hump camel day ~ ;-)

MzDiva: lol
Tootsie: Under the pressure of the masses ..alqdhae seen the files of corruption may condemn al-Maliki and his cabinet ministers Baghdad-Iraq-Presse -26 August / August: detection of the Committee on Parliamentary Integrity's intention to eliminate the consideration of the files concerning the squandering of public money, in the previous government the time of Prime Minister Nuri al-Maliki, 

noting that "public pressure drove those files from the drawers." Committee Chairman Talal Zobaie , in a statement reported L / Iraq Press /, on Wednesday, 

"We have a high coordination with the Supreme Judicial Council to speed up the resolution of files on the fight against corruption, which was placed in the drawers, but as a result of popular pressure there to pay to move it," adding that "in the coming days will be announced for many of them. " 

experiencing Baghdad and ten other provinces for weeks massive demonstrations calling for the elimination of administrative and financial corruption and make the corrupt officials to the competent courts. 

And that" these files belong to the previous government and the beginning of Prime Minister Nuri al-Maliki and down for most of the former ministers about the waste of public money. " , 

adding that "the committee will host committees energy, services and the economy in the previous government officials in addition to these committees officials in the current government." CONT > wealthwatch.world/showthr...   http://ift.tt/1KlBHoD

MzDiva: well if it begins at $1 im happy  -- just start some where

Tootsie: 3 that will be expanded, currently 1 sentence articles ~ Infallible calls for reform of the judiciary and the protection of the Constitution // Infallible condemns attack on demonstrators and calls to take action against "abusive" // 

and Infallible calls for reform of the judiciary and the protection of the Constitution Wednesday, 26 August 2015 19:40 All are newsflashes on Alsumaria news currently Wednesday, 26 August 2015 19:44 // Wednesday, 26 August 2015 19:40 ~~

Tootsie: Masum, calling on the government to not only "timely and immediate" action Wednesday, 26 August 2015 19:41

Tootsie: poll from BAS news today ~~ Poll ResultsShould International Community Send Ground Troops to Iraq to Fight Islamic State Militants? 68% Yes (2570 votes) 28% No (1077 votes) ~ 4% Don't know (152 votes)

Tootsie: interesting

Tootsie: Well, have fun kiddos ~~ hang in there and keep the faith ~~ Thought for the Day “A fool and his money are soon elected.” ~ Will Rogers (1879-1935) -

Doug_W: be well Toots


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