Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Saturday Chat 3-19-16 Part 1 of 2
rcookie says():IRAQ MADE 1ST SHIPMENT EVER OF LIQUID NATURAL GAS...
Ports: Iraq issued tomorrow, the first shipment of natural gas
History Tahrir:: 2016/3/19 10:55 • 197 times mqrw’h
Iraqi ports Directorate announced that they would on Sunday to export the first shipment to Iraq of natural gas.
A spokesman for the ports Anmar net in a statement received by all of Iraq [where] a copy of it, "will be advanced marine cadres award of takeoffs and guidance tanker Panamanian specialized [Cora], which kicks off tomorrow from the gas port of liquid on its way toward the sea."
~~~
Chat Room Excerpts & Highlights
Dinar Updates Saturday Chat 3-19-16 Part 1 of 2
rcookie says():IRAQ MADE 1ST SHIPMENT EVER OF LIQUID NATURAL GAS...
Ports: Iraq issued tomorrow, the first shipment of natural gas
History Tahrir:: 2016/3/19 10:55 • 197 times mqrw’h
Iraqi ports Directorate announced that they would on Sunday to export the first shipment to Iraq of natural gas.
A spokesman for the ports Anmar net in a statement received by all of Iraq [where] a copy of it, "will be advanced marine cadres award of takeoffs and guidance tanker Panamanian specialized [Cora], which kicks off tomorrow from the gas port of liquid on its way toward the sea."
~~~
He said the tanker "carrying the first shipment of heavy natural gas [c5 plus] issued by Iraq for the first time in its history , " adding that " the Iraqi ports will participate in this event because of its expertise in providing safe navigation for the passage of this supertanker safely across Mamratna navigation in the Khawr Abd Allah waterway and Khor Al - Zubair. "
rcookie says():http://ift.tt/1UsZDMi
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Good morning rcookie how are you today? I bet you would love to get a break from all your followers. Is everything proceeding reasonabley well in our favorite ME country?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Good morning does anyone know if Abadi got his hair cur he kept postponing?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Good morning everyone. I would love to tell you i wokeup and never thought about Iraqi which would be a lie. Any happy news from the Middle East?
larrykn says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():gm not much out there yet , its early lol
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Maybe I'll start sleeping till noon. Never happen. I am in this mental framework were I have lost track of were we are relative to article 8. I am sure there is lots left but I can't come up with anymore big milestones the prime ministerv has to over come, and I didnt even have any wine last night. Clear headed.
wmawhite says():folks.........I was going to reply the David277......he stated: I have lost track of were we are relative to article 8. I am sure there is lots left but I can't come up with anymore big milestones..........
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Oh oh
wmawhite says():Again,...I want to show you want the IMF has told each and everyone of you about this subjuct.
wmawhite says():Again, it is found within the Technical Letter of Intent dated December 22, 2015
wmawhite says():Here it is paragraph #19: The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Mr White I feel like I am back in college and my biochemistry professor is about to lay into me
wmawhite says():exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():Not at all...........something about questions............there is never a bad question asked....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Thanks
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():yw
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():So.........the IMF along with the CBI and MoF....stated "will"...not maybe, not thinking about it....instead, "will".
dennis2 says to wmawhite():What do you suppose "gradually" infers to?
dennis2 says to wmawhite():sorry, but you said yourself there is no bad question...(lol)
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():no interuptions maybe ? till the department head finishs
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():the dated of this Letter is December 22, 2015...............that is two months after this:
The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed in a press statement....he stressed that Iraq will return to economic market during the first half of next year.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():this letter is dated
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():IMO............the IMF had reason to believe that over the next few months Iraq would be doing these items.....so the language is "gradually'
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():however, the most important word is the verb "will".
jtank says():WMA (y) thx
dennis2 says to wmawhite():That makes sense. was wondering it it could mean a gradual increase in value Thank you
wmawhite says to dennis2():Key points to remember..........remove remaining exchange restrictions and multiple currency practice (MCP)
dennis2 says to wmawhite():Right on...(y)
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Are there sub themes that play a role? Like a sitting cabinet. Do you think political issues will cause a head wind or is it more procedural?
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():There are numerous issues at play...............what we are discussing here, the move into the international markets is totally separate from the reforms being pushed ay Abadi.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():The reason I ask is that it seems to simple just droping MCP
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Interesting. Can you seperate his power from the MCP issue
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():The issue with the MCPs is a result of the auctions which is a result of numerous years of Iraq needing the USD in order to import 90+% of their goods.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():right
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():and it was inefficent to say the least
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():IMO,....once the CBI receives the "goodhouse keeping seal of approval".....Article 8...........the world financial community will be more open to deal in the IQD.............thus,......the USD is then not needed internally in Iraq.....thus by by to the auctions.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():but no one noticed a $100 a barrel
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():Thus, by by to the MCPs.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():The price of oil is secondary to the move into Article 8.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Can the IMF stop the MCPs?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():I understand stupid statement
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():its all about a single currency
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():MCPs....auctions..........why auctions? because the CBI must put USD on the street because USDs are needed to buy internationally....import 90% of goods needed to live on.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():Once Iraq can order that rice from Thialand and pay for it with an account with IQD in it then there will be no need for the auctions.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():I am on the edge of my chair
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():I love it
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():When that happens.....and we believe the IMF gave us a timeframe then it is best for Iraq to conduct business at a value that will not kill them financially..............their true value.
rcookie says():DOES EVERYONE REMEMBER AND KNOW THAT IRAQ WAS ALREADY IN ALIGNMENT FOR ARTICLE VIII AND WAS FOUND IN BREACH...SPANKED AND CORRECTED...IN 2013......
wmawhite says():I am finished
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Mr White so some one at he IMF calclates the true value based on GDPpotential and investment flows and comparitibe or relative value to comparable counntries
rcookie says():THEY WERE IN BREACH OF OBLIGATIONS OF ARTICLE VIII SECTION 5
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():sorry rcookie section 5?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():forget my question sorry
wmawhite says to rcookie():Do you remember what section 5 was?
rcookie says():UNDER SBA (STAND BY ARRANGEMENTS)...APPROVED IN 2010...AND EXPIRED IN FEB 2013...THE IMF EXECUTIVE BOARD GRANTED A "NON COMPLIANCE WAIVER"....AND CONCLUDED..."NO FURTHER REMEDIAL ACTION WAS NECESSARY"....
rcookie says():YES I DO HERE YOU GO.....I WILL REPOST AGAIN...
designbyg says to wmawhite(Whisper message)(8:51 AM):my take was the opposition to abadi have reached out to their enemies...
rcookie says():THIS IS AN IMF PRESS RELEASE FROM 2013 THAT OUTLINES A BREACH OF OBLIGATIONS UNDER ARTICLE VIII...AND IT DEALS WITH SECTION 5
rcookie says():IMF Executive Board Reviews Noncomplying Purchase by Iraq and Breach of Obligations Under Article VIII, Section 5Press Release No. 13/464 November 21, 2013
wmawhite says to rcookie():And then in October 2015, just prior tp the Article 4 consultation in amman, Jordan the IMF makes their statement about Iraq and the enter into the "markets".
rcookie says():http://ift.tt/1UsZDMi
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Good morning rcookie how are you today? I bet you would love to get a break from all your followers. Is everything proceeding reasonabley well in our favorite ME country?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Good morning does anyone know if Abadi got his hair cur he kept postponing?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Good morning everyone. I would love to tell you i wokeup and never thought about Iraqi which would be a lie. Any happy news from the Middle East?
larrykn says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():gm not much out there yet , its early lol
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Maybe I'll start sleeping till noon. Never happen. I am in this mental framework were I have lost track of were we are relative to article 8. I am sure there is lots left but I can't come up with anymore big milestones the prime ministerv has to over come, and I didnt even have any wine last night. Clear headed.
wmawhite says():folks.........I was going to reply the David277......he stated: I have lost track of were we are relative to article 8. I am sure there is lots left but I can't come up with anymore big milestones..........
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Oh oh
wmawhite says():Again,...I want to show you want the IMF has told each and everyone of you about this subjuct.
wmawhite says():Again, it is found within the Technical Letter of Intent dated December 22, 2015
wmawhite says():Here it is paragraph #19: The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Mr White I feel like I am back in college and my biochemistry professor is about to lay into me
wmawhite says():exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():Not at all...........something about questions............there is never a bad question asked....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Thanks
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():yw
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():So.........the IMF along with the CBI and MoF....stated "will"...not maybe, not thinking about it....instead, "will".
dennis2 says to wmawhite():What do you suppose "gradually" infers to?
dennis2 says to wmawhite():sorry, but you said yourself there is no bad question...(lol)
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():no interuptions maybe ? till the department head finishs
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():the dated of this Letter is December 22, 2015...............that is two months after this:
The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed in a press statement....he stressed that Iraq will return to economic market during the first half of next year.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():this letter is dated
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():IMO............the IMF had reason to believe that over the next few months Iraq would be doing these items.....so the language is "gradually'
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():however, the most important word is the verb "will".
jtank says():WMA (y) thx
dennis2 says to wmawhite():That makes sense. was wondering it it could mean a gradual increase in value Thank you
wmawhite says to dennis2():Key points to remember..........remove remaining exchange restrictions and multiple currency practice (MCP)
dennis2 says to wmawhite():Right on...(y)
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Are there sub themes that play a role? Like a sitting cabinet. Do you think political issues will cause a head wind or is it more procedural?
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():There are numerous issues at play...............what we are discussing here, the move into the international markets is totally separate from the reforms being pushed ay Abadi.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():The reason I ask is that it seems to simple just droping MCP
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Interesting. Can you seperate his power from the MCP issue
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():The issue with the MCPs is a result of the auctions which is a result of numerous years of Iraq needing the USD in order to import 90+% of their goods.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():right
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():and it was inefficent to say the least
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():IMO,....once the CBI receives the "goodhouse keeping seal of approval".....Article 8...........the world financial community will be more open to deal in the IQD.............thus,......the USD is then not needed internally in Iraq.....thus by by to the auctions.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():but no one noticed a $100 a barrel
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():Thus, by by to the MCPs.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():The price of oil is secondary to the move into Article 8.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Can the IMF stop the MCPs?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():I understand stupid statement
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():its all about a single currency
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():MCPs....auctions..........why auctions? because the CBI must put USD on the street because USDs are needed to buy internationally....import 90% of goods needed to live on.
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():Once Iraq can order that rice from Thialand and pay for it with an account with IQD in it then there will be no need for the auctions.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():I am on the edge of my chair
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():I love it
wmawhite says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():When that happens.....and we believe the IMF gave us a timeframe then it is best for Iraq to conduct business at a value that will not kill them financially..............their true value.
rcookie says():DOES EVERYONE REMEMBER AND KNOW THAT IRAQ WAS ALREADY IN ALIGNMENT FOR ARTICLE VIII AND WAS FOUND IN BREACH...SPANKED AND CORRECTED...IN 2013......
wmawhite says():I am finished
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():Mr White so some one at he IMF calclates the true value based on GDPpotential and investment flows and comparitibe or relative value to comparable counntries
rcookie says():THEY WERE IN BREACH OF OBLIGATIONS OF ARTICLE VIII SECTION 5
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():sorry rcookie section 5?
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():forget my question sorry
wmawhite says to rcookie():Do you remember what section 5 was?
rcookie says():UNDER SBA (STAND BY ARRANGEMENTS)...APPROVED IN 2010...AND EXPIRED IN FEB 2013...THE IMF EXECUTIVE BOARD GRANTED A "NON COMPLIANCE WAIVER"....AND CONCLUDED..."NO FURTHER REMEDIAL ACTION WAS NECESSARY"....
rcookie says():YES I DO HERE YOU GO.....I WILL REPOST AGAIN...
designbyg says to wmawhite(Whisper message)(8:51 AM):my take was the opposition to abadi have reached out to their enemies...
rcookie says():THIS IS AN IMF PRESS RELEASE FROM 2013 THAT OUTLINES A BREACH OF OBLIGATIONS UNDER ARTICLE VIII...AND IT DEALS WITH SECTION 5
rcookie says():IMF Executive Board Reviews Noncomplying Purchase by Iraq and Breach of Obligations Under Article VIII, Section 5Press Release No. 13/464 November 21, 2013
wmawhite says to rcookie():And then in October 2015, just prior tp the Article 4 consultation in amman, Jordan the IMF makes their statement about Iraq and the enter into the "markets".
rcookie says():As the authorities have taken appropriate corrective measures since the purchase in March 2011, the Executive Board granted a waiver for the nonobservance of one continuous performance criterion (PC) and determined that no further remedial action is required in connection with its obligation to provide information under Article VIII, Section 5.
rcookie says():SO THE IMF EXECUTIVE BOARD GRANTED A NON COMPLIANCE WAIVER...AND CONCLUDED NO FURTHER REMEDIAL ACTION WAS NECESSARY....
rcookie says():The noncompliant disbursement arose as a result of misreporting on the observance of the standard continuous PC for the nonimposition or intensification of restrictions on the making of payments and transfers for current international transactions.
In October 2012, staff learned that during the last quarter of 2010 the Central Bank of Iraq (CBI) issued three circulars on the daily foreign exchange auctions that gave rise to exchange restrictions subject to IMF jurisdiction.
rcookie says():The circulars:
(a) introduced maximum limits on the availability of foreign currency cash for individuals,
(b) introduced limits on the availability of foreign currency cash through the CBI foreign exchange auctions to money transfer companies and exchange bureaus, and
(c) introduced and
(d) later intensified a requirement to present a tax clearance certificate for firms to transfer funds in excess of certain amounts purchased through the CBI auctions.
rcookie says():SO THE IMF EXECUTIVE BOARD GRANTED A NON COMPLIANCE WAIVER...AND CONCLUDED NO FURTHER REMEDIAL ACTION WAS NECESSARY....
rcookie says():The noncompliant disbursement arose as a result of misreporting on the observance of the standard continuous PC for the nonimposition or intensification of restrictions on the making of payments and transfers for current international transactions.
In October 2012, staff learned that during the last quarter of 2010 the Central Bank of Iraq (CBI) issued three circulars on the daily foreign exchange auctions that gave rise to exchange restrictions subject to IMF jurisdiction.
rcookie says():The circulars:
(a) introduced maximum limits on the availability of foreign currency cash for individuals,
(b) introduced limits on the availability of foreign currency cash through the CBI foreign exchange auctions to money transfer companies and exchange bureaus, and
(c) introduced and
(d) later intensified a requirement to present a tax clearance certificate for firms to transfer funds in excess of certain amounts purchased through the CBI auctions.
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