Wealthwatch Sunday OOTW Chat 12-27-15 Part 2 of 2

WEALTHWATCH 12-27-15
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Wealthwatch  Sunday OOTW Chat 12-27-15   Part 2 of 2
 
OOTW: UHHHHH BAGHDAD WE HAVE A PROBLEM....THE IRAQI PRIVATE SECTOR, AT THIS STAGE, CONSISTS PRIMARILY OF GRAIN
 
OOTW: PEOPLE NEED MORE THAN THAT TO LIVE
 
chattels: ‹@OOTW› Has Masum ratified the budget as yet ?
 
OOTW: WE'VE ALSO RECENTLY SEEN ABADI MAKING ANNOUNCEMENTS THAT "DUMPING" WILL NOT BE ALLOWED IN THE COUNTRY
 
OOTW: ESP FROM IRAN
 
OOTW: THIS IS WHEN IMPORTERS (IN EFFECT) BRING SHODDY GOODS INTO THE IRAQI MARKET FOR SALE - WITH THE IMPOSITION OF CUSTOMS/FEES/TAXES ADDED ATOP THE COSTS
 ~~~

OOTW: CHATTELS THIS IS A LINK TO THE MOST RECENT GAZETTE PUBLICATION FROM THE MINISTRY OF JUSTICE SITE
 
OOTW: http://ift.tt/1mJ8U4G     http://ift.tt/1mJ8U4G
 
 
OOTW: THIS FULL TEXT IS ENCRYPTED - SO FOR NOW, ALL WE ARE ABLE TO MAKE OUT WITH CERTAINTY, IS THE SMALL LIST PUBLISHED UNDER THE DOCUMENT AS THE "COVER PAGE" FOR THIS MONTH'S GAZETTE
 
OOTW: SORRY I WAS SKYPING WITH BUTI OVER THIS
 
chattels: I paid $ 1.71 / per gallon for gasoline yesterday - amazing.
 
OOTW: WE'VE GOT THE MINISTRY OF INTERIOR STATING THAT THE TARIFFS ARE COMING (IN EFFECT) PLEASE RELY ON THE NATIONAL PRODUCT
 
OOTW: THE TARIFFS HAVE TO, HAVE TO , HAVE TO ARRIVE
 
OOTW: IT'S PART OF THE ARRANGEMENT WITH THE WB
 
chattels: ‹@OOTW› Did i send you the article about the coming meeting between the KRG and Baghdad regarding the tariff implementation ?
 
OOTW: YES THAT IS AMAZING
 
OOTW: AHHHH LET ME SEE THAT'S GREAT CHATTELS - SORRY SOMETIMES I TEND TO LOG IN AND GET FOCUSED RIGHT AWAY ON GOVT NEWS
 
chattels: " the general budget in 2016 passed by the Parliament include forcing the government to apply customs tariff as one of the laws in force and applicable. " "The main problem encountered in the collection of customs tariffs according to the law, relating to non-state control of all border crossings."
 
chattels: wealthwatch.world/showthr...
http://ift.tt/1IxeEIN
 
chattels: Baghdad announced to the economic and investment commission in Parliament for a joint meeting, soon, between the federal government and the Kurdistan region representatives for the application of the customs tariff law in all border crossing points.
 
OOTW: Forthcoming meeting between Baghdad and Erbil for the application of the customs tariff law in all outlets December 27, 2015 views 11 Our economy / Baghdad The economic and investment commission parliamentary announced a joint meeting, soon, between the federal government and representatives of the Kurdistan region to apply the law of customs tariff in all border crossing points.
 
Said committee member Rep. Najiba Najib said in a statement seen by corrosive of our economy news that "the Parliamentary Committee in connection with a joint meeting of the ministries of planning and finance, industry and the interior of the central government and the Kurdistan Regional Government to implement the collection of customs tariffs and increase fiscal revenue for the state."
 
She noted that "2016 general budget approved by Parliament includes commit the government to apply the customs tariff as one of the laws in force and applicable." She added: "The main problem encountered in the collection of customs tariffs according to the law, relating to non-state control of all border crossings."
 
He continued: "The most traders importers resort for the supply of goods to the local market through these ports." She noted that "there are border ports under the control of the government are not taken to the application of the customs tariff in the absence of political will."
 
OOTW: GREAT FIND CHATTELS TY   OOTW: WOW WOW WOW
OOTW: WELL, ALL I HAVE TO SAY IS....BRING IT ON
 
OOTW: BUT THEY BETTER BE PREPARED FOR RIOTS IF THEY 1) DO NOT GIVE THE CITIZENS LESS EXPENSIVE NECESSITIES OR 2) DO NOT GIVE THE DINAR MORE BUYING POWER
 
chattels: Abadi recently decried the fact that DAESH controls both sides of the Syrian - Iraq border
 
OOTW: YEAH   OOTW: SOMETIMES WE HAVE TO (ALSO) LOOK OUTSIDE OF IRAQ, SO SURROUNDING COUNTRIES - ONE REASON, IS BECAUSE WE KNOW THAT IN THE IRANIAN AND IRAQI MARKETPLACE, THE DINAR IS USED AND THE RIAL   OOTW: AND THE DOLLAR
 
OOTW: LOOK AT THIS ARTICLE BUTIFLDRM POSTED
 
OOTW: Moscow: do not rule out the adoption of Russia and Iran, the two currencies in trade exchanges Aloutnettin December 27, 2015 Our economy / Moscow Minister of Industry and Trade of the Russian Masarurov Dennis said he does not rule out the adoption of Russia and Iran,
 
 the ruble and the rial in trade exchanges with forecasts suggest an increase in the volume of trade exchange between the two countries.
 
 In a televised interview, he said: "I do not rule out the adoption of the ruble and the rial in business dealings between the two countries," especially in light of expectations that suggest the arrival of the value of trade exchange between the two countries to five billion dollars a year.
 
He added: "This means that the ruble will enter Iranian banks which means the use of his Iranian side in the payment of the value of Russian goods".
 
In this regard, the Iranian media picked up by the Minister of Communications and Information Technology of Iran Mahmoud Vaezi as saying that Moscow and Tehran were discussing at the moment adopt a monetary agreement seizes Sairafi work, and the development of trade and economic relations between the two countries.
 
 For his part, the governor of the Iranian Central Bank of Iran Crown Sword of God announced that Tehran is ready to open a Russian-Iranian joint account in order to serve to facilitate two-way trade currencies Aloutnettin. It is the Russian side, said the First Deputy Prime Minister Igor Shuvalov recently that Moscow and Tehran will discuss ways in the near commercial and financial transactions between the two countries manage ruble and rial. 

OOTW: wealthwatch.world/showthr...
http://ift.tt/1OnIonn
 
OOTW: HERE IS MORE
 
chattels: ‹@OOTW› Reports of Russia lending Iran 3.5 billion dollars
 
OOTW: Report: Linking GCC currencies to the dollar means the loss of "monetary independence."
 
OOTW: THANK YOU CHATTELS...VERY APPRECIATED
OOTW: HERE IS AN EXCERPT FROM THIS THREAD
 
OOTW: The currency framework in the GCC is radically different than in most Asian countries. Gulf currencies are pegged to the USD, with either a nominal anchor or a softer peg to a basket of currencies such as in Kuwait.
 
A peg implies a loss of policy independence: follow the policy rates of the reference currency or risk capital outflows. In fact, Gulf countries have already adapted to the new situation. For instance, the Saudi Arabian Monetary Agency (SAMA) already hiked its reverse repo rate by 25 basis points to 0.5% and Kuwait, UAE and Bahrain also reacted to the Fed's decision.
 
At the same time, the GCC is highly exposed to the deteriorating energy market, which accounts for half of the economy and 85% of public revenue. The combination of low oil prices and tighter credit conditions could be the perfect storm for the GCC.
 
Apart from the downside risk on growth, the whole currency system could face substantial pressure if current conditions persist as the Gulf continues to spend from its reserves.Emerging markets are split between two magnetic poles.
 
The first element is the gradual tightening of US monetary policy, which will add pressure on US-pegged countries to raise interest rates.
 
OOTW: The other element is the ultra-loose policies of the European and Japanese central banks, which are hurting emerging markets' competitiveness. Today, monetary policy trends in main economies diverge. Despite low oil prices, the GCC will maintain its peg with the US and gradually increase interest rates.
 
In Asia, given the current economic dynamics, Asian central banks will attempt to track more closely European and Japanese monetary policy - to the extent it is possible.
 
OOTW: IRAQ IS NOT IMMUNE TO THE NEED TO RAISE INTEREST RATES, THIS IS THE UNDERLYING MESSAGE OF THIS INFORMATION
 
OOTW: IN THE PAST YEAR WE'VE SEEN ANNOUNCEMENTS STATING THAT THE BANKING SECTOR HAS BEEN GIVEN ALLOCATIONS TO DOLE OUT LOANS TO MEDIUM AND SMALL BUSINESSES
 
OOTW: WITHOUT THE IMPOSITION OF RAISING INTEREST RATES
 
OOTW: SO THE WB LOANS ARE GOING TO REQUIRE THE IMPOSITION OF TARIFFS AND NOW , WELL LIKELY, THAT IRAQ WILL ALSO HAVE TO RAISE INTEREST RATES
 
OOTW: WHAT WILL THIS DO TO CURRENT "LOAN HOLDERS"?
 
OOTW: ANOTHER SOURCE OF PRESSURE FOR THE IRAQI CITIZENS AS WELL AS BUSINESS DEVELOPMENT - PRIVATE SECTOR BUSINESS DEVELOPMENT
 
OOTW: SO IRAQ IS NOW PLAYING THE IMF GAME...WE'LL SEE WHAT THEY DO
 
OOTW: IT'S FURTHER COMPLICATED BY THE DEAL WITH CHINA
 
OOTW: THE FULL EXTEND OF THAT DEAL, WE SHALL SEE
 
OOTW: THERE'S BEEN TALK FOR A WHILE NOW, ESP MP SHAMMARI ABOUT DEPEGGING FROM THE DOLLAR  

chattels: ‹@OOTW› thanks for posting / commenting
 
OOTW: HOW CAN IRAQ DO THIS UNDER THE AUSPICES OF IMF OVERSIGHT?
 
 
OOTW: NO...TY CHATTELS YOU'VE BEEN AN INVALUABLE HELP AS ALWAYS
OOTW: OK  OOTW: SEE YA
 
OOTW: ONE THING TO REMEMBER  OOTW: THE YUAN IS NOW PART OF THE SDR BASKET
OOTW: NOT SAYING THAT IRAQ WILL DEFINITELY JUMP TO THE SDR PEG
 
OOTW: BUT, IF THEY HAVE WHAT IS REFERRED TO ABOVE AS A "SOFT" PEG THEN THEY HAVE MORE INDEPENDENCE, BUT ARE ALSO STILL WITHIN IMF GUIDELINES
 
OOTW: A VERY INTERESTING SITUATION....TARIFF'S BEING THE TRIGGER TO MY MIND
OOTW: THE IMF HAS BEEN ASKING IRAQ TO LIBERALIZE THEIR EXCHANGE RATE FOR YEARS
 
OOTW: AND NOW IRAQ HAS ANNOUNCED THEY'RE FOLLOWING IMF RECOMMENDATIONS
 
OOTW: INFORMATION WHICH IMPLIES THAT IRAQ IS SET TO , AT THE VERY LEAST, THE NEED TOWARDS MORE NOTICEABLE CURRENCY REFORM(S)
 
OOTW: WE SHALL SEE
OOTW: TY TO BUTIFLDRM TOO
 
Doug_W: What deal W/China I missed it
 
OOTW: ABADI WAS IN CHINA LAST WEEK - AND A TRADE, ECONOMIC, MILITARY AGREEMENT WAS ANNOUNCED TO HAVE BEEN MADE
 
Doug_W: I knew he was there but I missed teh "deal"
 
OOTW: WE DO NOT HAVE DETAILS OF THE DEAL ONLY WHAT THE PRESS HAS STATED
 
OOTW: THE CHAT MAY BE FOUND HERE wealthwatch.world/showthr...
http://ift.tt/1ZmcaRq

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