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Friday, February 5, 2016

Dinar Updates Member Evening Chat 2-4-16   Part 3 of 4

Post From Dinar Updates 2-4-16
Excerpts & Highlights

Dinar Updates Member Evening Chat 2-4-16   Part 3 of 4
 
Baxter1243 says():CLAY...... Are we RICH yet?
 
cjquade54 says to rcookie():do you think the IMF's "expectation" by mid year includes the corruption that is coming to light?
 
rcookie says to cjquade54():HEY CJ...WHAT DO YOU MEAN..
 
jd says():The IMF had to know about the corruption a long time ago.
 
Hutch says to rcookie():cjquade54 says to rcookie(2:38 PM):just asking if the IMF factored in the dealing with corruption in their "by mid year" timeframe
 ~~~
rcookie says to cjquade54():THE CORRUPTION IS BEING DEALT WITH AS UNCOVERED...AND HAS BEEN FOR QUITE SOME TIME....

AS WITNESSED BY THE BANK SECTOR FINES...SUSPENSIONS...AND CLOSINGS  ....ALONG WITH ARRESTS OF INDIVIDUAL VIOLATORSD...
 
Dr Dave says():I thought curbing the corruption was part of Abadi's reforms?
cjquade54 says to rcookie():so it's all on the "to do" list
clay says to Baxter1243():I wish
jd says():I bet 90% of the politcians in Iraq were stealing money.
Baxter1243 says():Clay... Me too....
 
rcookie says to cjquade54():WE AQRE ABOUT TO SEE THE PRIVATIZATION OF THE 2 BIG STATE BANKS...WHO HAVE BEEN FOUND TO CONTROL TOO LARGE A RATIO OF IRAQS ASSETS...
 
AND UNDERMINE THE EFFICIENCY OF THE OTHER BANKS TO EXECUT PROGRAMS...WHILE CONTRIBUTING VERY LITTLE BACK IN RETURN TOWARDS GDP NON-OIL REVENUES....
 
Dr Dave says():the news indicates yadda yadda...and maliki is spending money like a wild man ....most expesive properties to the tune of 159 million
rcookie says():WHO CARES!!
Dr Dave says():where did you get that"
clay says to Dr Dave():he must have gotten his money where O did
Dr Dave says():So the USA is one of the most corrupt nations in the world and O owns lavish palaces?
clay says to Dr Dave():hes looking into them yes
 
rcookie says():SEE THIS HAPPENS EVERY TIME....AS AN INVESTOR INSTEAD OF UNDERSTANDING WITH THE RELEVANT PARTIES...IMF...CBI...WB...UN ARE SAYING & DOING...THE FOCUS GETS TURNED TO WHERE MALIKI IS LIVING OR WHAT HE IS DOING....."LISTENING TO THE DRUNKS IN THE STANDS"...INSTEAD OF KEEPING EYE ON THE BALL...

ljenterprises says():rcookie: You are so right! (y)
 
cjquade54 says to rcookie():and with T&T's launched they gotta make the move soon one would think

rcookie says():OK..NOW BACK TO OUR REGULARLY SCHEDULED POGRAM...
Dr Dave says():HOPIUM?
 
Baxter1243 says():Clay....if you are interested... a house on our lake has come up for sale... 22000 sq ft... 10 bedrooms.. two pools....a mother in law house of only 4000 sq ft.. a ten car garage...only 7 mllion... taxes a mere 1000 dollars a week..
 
clay says to Baxter1243():lol
Baxter1243 says():(lol) its quite nice
clay says to Baxter1243():no thanks looking to downsize (lol)
jeffusa says to clay():20,000 sq ft max?
clay says to jeffusa():more like 2800\
jarhead says():me too goinfor a 8x12-4 bedroom :D
Dr Dave says():I wonder what Maliki gets for his 150 million
jeffusa says to clay():only 1 bedroom for me... that way no one can move home
jarhead says():exactly
clay says to jeffusa():totally understand
jarhead says():I R NOT!!!!!!!!
 
Kountryway says():Are there any dinar dealers left? I just went to look at Sterling & see that the FBI has raided them as well. It is said that the FBI is out to shut the Dinar Scam down. I'm a little concerned about my investment. I have been out of the dinar loop for quite a spell & don't have a clue what has/has not happened in Iraq.
 
foxmulder says to jarhead():well well well a response on that hello ! lol
foxmulder says to Kountryway():soon ! no worries hang in there
 
jarhead says():the only one thats a scam is the US GOVERNMENT
Mark McKinnon[10207217982511337@facebook..] says():nothing has happen
Kountryway says to jarhead():LOL...that's no secret
foxmulder says to jarhead():no s***zell !!!
 
Dr Dave says():Abadi: we can overcome the financial crisis and are facing resistance from corrupt
2/4/2016 0 Comments Picture
 
Search Prime Minister Haider al-Abadi on Wednesday with the president and members of the Parliamentary Integrity Committee the measures taken to curb the rampant corruption in state institutions and cooperation between the government and parliament in this area.
 
A statement by the prime minister's office received by all of Iraq [where] a copy of it, that he "had been discussing the financial crisis and Strategies adopted by the government to overcome them."
 
Abadi said that "we can overcome the financial crisis through cooperation among ourselves and there are many measures taken by the government," pointing out that "political disputes and conflicts leading to the work stoppage and adversely affect the citizen."
 
He said that "corruption has encouraged and factors such as red tape and bureaucracy, there is a strong resistance from the corrupt project simplific
 
rcookie says():SOME OF THE LANGUAGE OF WHAT WE SEE IN THE 2016 IMF LETTER OF INTENT/MEFP & TECHNICAL MOU...ARE DIRECTLY CORRELATED TO IRAQS 2015 IMF ARTICLE IV CONSULTATION...
 
AND THEIR RAPID FINANCING INSTRUMENT (RFI)....AND IMPORTANT CONSIDERATIONS IN LOOKING AT ASCENSION TO ARTICLE VIII...AS WELL AS LOOKING AT IMPORTANT TERMS LIKE..."
 
EASING RESTRICTIVE FOREIGN EXCHANGE MEASURES"..."INTERNATIONAL RESERVE LEVELS"..."FOREIGN EXCHANGE LIBERALIZATION"...AND "CENTRALIZING MANAGEMENT OF INTERNATIONAL RESERVES"...
 
AS WELL AS GROWING CRISIS WITH STATE OWNED BANKS WHICH WE ARE SEEING DEALT WITH TODAY...THIS REPORT IS FROM AUGUST 2015....
 
AND SHOWCASES THIS IS NOT SOME FLY BY NIGHT PLAN THROUGH THE IMMEDIATE CRISIS AT HAND...BUT RATHER A CAREFULLY ORCESTRATED DETAILE PLAN THAT TAKES THEM STEP BY STEP THROUGH 2020 AND BEYOND.......
 
clay says to foxmulder():not me 8-|
clay says to foxmulder():havent been in dinarland long enough
jd says():It would appear that the government was most concerned about dinar dealers that had reserve programs.
 
Dr Dave says():He said that "corruption has encouraged and factors such as red tape and bureaucracy, there is a strong resistance from the corrupt project simplification of procedures because it reduces the corruption."
Among al-Abadi said "corrupt their arms and possibilities and trying to mix up the papers it is necessary to stop them, noting that there is corruption last is wasting public money" .anthy
 
clay says to Kountryway():hey buddy all good
foxmulder says to clay():long enough lol lol
Kountryway says to foxmulder():That word "soon" was a dirty word 7 months ago. Has it been polished up some? lol
 
clay says to foxmulder():for sure lol
clay says to Kountryway():it sure has
foxmulder says to clay():I'm ready are you ?
clay says to foxmulder():more than ready my friend lol'
 
rcookie says():ANYONE INTERESTED..
jeffusa says to rcookie():sure
Dr Dave says():me too
john09 says():me three
rcookie says():DID YOU READ ABOVE ^^^
clay says to rcookie():just did thanks
 
rcookie says):25. The restrictive foreign exchange measures helped maintain reserves. The effective depreciation of the exchange rate and the increase in the parallel market rate contributed to lower demand for foreign exchange this year.
 
As a result, in the first half of the year foreign exchange sales were on average much lower in 2015 than in previous years. However, the uncertainty on the availability of foreign currency also undermined confidence and impacted trade.
 
Nevertheless, the authorities saw this as a useful side-effect of the measures to the extent it avoided pressure on international reserves, which actually increased slightly in the first five months of the year.
 
rcookie says():THIS ADDRESSES SOME COMMENTS MADE THIS MORNING ABOUT DEPLETING IRAQ RESERVES BEING OUT OF CONTROL & UNCHECKED WHERE OBVIOUSLY BY THIS AND THE CBI STATEMENT IN 2016 LOI...IS ACTUALLY A PREMEDITATED PART OF THEIR PLAN...
 
rcookie says():26. The level of international reserves still appears adequate (Annex I). Compared to the 2013 Article IV report, the projected external position is much weaker.
 
Nevertheless, the projected level of international reserves at end-2015 exceeds conventional reserve adequacy indicators, at almost seven months of imports of goods and services and 175 percent of the Fund’s reserve adequacy (ARA) metric.
 
Reserves are projected to decline further by end-2016, but they are expected to remain at over five months of imports.
 
clay says to Kountryway():sterling and dinar corp were shut down because of reserves thats all
 
rcookie says():PLEASE READ THIS NEXT PART...AND REMEBER THIS WAS IN AUGUST 2015...AND THEN READ THE JAN 2016 IMF LOI AND SEE WHERE THEY ARE....
 
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Whoops a bank run .Walkingstick: Iraqis are pulling their money out of banks for fear of bankruptcy. Not good for an RV .
 
rcookie says():THIS HAS TO DO WITH REMOVING CURRENCY EXCHANGE RESTRICTIONS...AND USE OF MULTIPLE CURRENCY PRACTICE (MCP)...

AND THE CBI'S INTENTION TO REMOVE EXCHANGE RESTRICTIONS AND MCP'S IN LINE WITH ACCEPTING ARTICLE VIII.....
 
rcookie says(27. The authorities are adopting a cautious approach to foreign exchange liberalization. Since the last Article IV consultation, Iraq has removed most of the exchange restrictions previously maintained.
 
However, one new exchange restriction has been identified arising from the weekly limits on cash purchases by financial institutions from the CBI.5 Furthermore, Iraq continues to maintain a Multiple Currency Practice (MCP), which arises from the absence of a mechanism to ensure that the official exchange rate and the parallel market exchange rate do not deviate by more than two percent (see Informational Annex). The CBI confirmed its intention to remove the

Localcats says():i like that thankey
 
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Just quoting the Guru Walking Stick

rcookie says():remaining exchange restrictions and the MCP, in line with Iraq’s objective of accepting Article VIII obligations. The authorities also removed the advance customs duty and income tax payment because of their negative impact on market volatility.
 
They also committed to removing the weekly limits on cash transactions, once external conditions allow. Staff welcomed these steps and recommended that the CBI set the appropriate pace of liberalization on the basis of the volumes of auction sales and the behavior of the spread, which could be a good gauge of depreciation pressures. Staff underlined that AML/CFT concerns should be best addressed through the improvement of the relevant legislative and institutional framework.
 
rcookie says():WELL.........
foxmulder says():" ONCE EXTERNAL CONDITIONS ALLOW "
 
cowboydownsouth says():Clay Interesting that treasury vault and several others are still selling researves sure wish BGG statement eirlier that we might see our money back would come true could sure use it.
 
rcookie says():YES...
clay says to cowboydownsouth():me too
clay says to cowboydownsouth():what did B
clay says to cowboydownsouth():BGG say about it missed it
john09 says():timeframe with the right conditions   
rcookie says():AND FINALLY THE CBI CENTRALIZATION MANAGEMENT PLAN FOR INTERNATIONAL RESERVES...
 
cowboydownsouth says(A while back he was saying we might see some money back from Dinar corp
 
foxmulder says):" ONCE EXTERNAL CONDITIONS ALLOW " the CBI set the pace !! { please step it up will ya } the first paragraph absence of mechanism ??? interesting
 
clay says to cowboydownsouth():oh ok
clay says to cowboydownsouth():remember that
 
rcookie says():28. The CBI plans to centralize the management of international reserves. Currently, CBI reserves are mainly managed through the Federal Reserve Bank of New York and other central banks.
 
The CBI has as a long-term objective to move management of its reserves back to Baghdad, which will require planning and implementation of concrete steps. Staff supported the CBI’s intentions, but recommended to adopt a very gradual approach hinging on the build-up of adequate capacity at the CBI.
 
Furthermore, with technical assistance from the Fund the CBI updated the 2008 guidelines for reserve management to bring them in line with the CBI Law and address quantitatively all key reserve management strategic objectives, such as Strategic Asset Allocation, credit risk limits, or liquidity needs. The next challenge for the CBI will be to effectively implement this new framework.

rcookie says():ANYONE CARE TO WAGER WHO WONT BE THE CBI GOVERNOR WHEN THOSE INTERNATIONAL RESERVE FUNDS ARE MOVED BACK TO BAGHDAD.............
 
WHEN THOSE INTERNATIONAL RESERVE FUNDS ARE MOVED BACK TO BAGHDAD.............
 
wmawhite says):The name starts with an "S"

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