Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Saturday Chat 3-19-16 Part 2 of 2
rcookie says():HMMMMM ANYONE TAKE A GUESS WHY THEY WERE SLOW AND RESISTANT TO REPORTING ON AUCTION ACTIVITIES AND ACCOUNTABILITY....BIG SHOCKER RIGHT.....
rcookie says():SO MISREPORTING OR REPORTING ALTOGETHER....
jarhead says():gm and here we go
wmawhite says to rcookie():Look at this:.............
rcookie says():The restriction on the availability of foreign currency cash for individuals was temporary, as the CBI repealed it in August 2011. The authorities have taken appropriate corrective action by removing the remaining restrictions in the course of 2013. On this basis, the Executive Board granted a waiver for the nonobservance of the PC.
~~~
Chat Room Excerpts & Highlights
Dinar Updates Saturday Chat 3-19-16 Part 2 of 2
rcookie says():HMMMMM ANYONE TAKE A GUESS WHY THEY WERE SLOW AND RESISTANT TO REPORTING ON AUCTION ACTIVITIES AND ACCOUNTABILITY....BIG SHOCKER RIGHT.....
rcookie says():SO MISREPORTING OR REPORTING ALTOGETHER....
jarhead says():gm and here we go
wmawhite says to rcookie():Look at this:.............
rcookie says():The restriction on the availability of foreign currency cash for individuals was temporary, as the CBI repealed it in August 2011. The authorities have taken appropriate corrective action by removing the remaining restrictions in the course of 2013. On this basis, the Executive Board granted a waiver for the nonobservance of the PC.
~~~
rcookie says():THESE ARE THE RESTRICTIONS THEY REFER TO IN THE IMF LOI/MEFP/YECH MOU.......
wmawhite says to rcookie():Look at this....it referrs to what you just posted:
wmawhite says to rcookie():12. The spread between the official and the parallel foreign exchange market rate receded to around 2 percentage points since August from as high as 16 percentage points in June, as a result of the elimination of the obligation to prove custom duty and income tax payments before buying foreign exchange.
rcookie says():SO YOU SEE....THINK ABOUT THE BREACH....AND WHAT WAS THE SUBJECT OF THE METAC WORKSHOP THEY JUST WENT THROUGH..........
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():METAC was a relative purcgasing power index vs comparable countries?
rcookie says():FISCAL REPORTING & TRANSPARENCY.......HELLOOOOOOOOOOO
rcookie says():ANYONE...
jarhead says():so they r working withthe imf correctly ??
rcookie says to jarhead():COMPLETELY CORRECT JAR...
jarhead says():fantastic
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():??? METAC WHAT....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Forget my question stupid
clay says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():nothing here is stupid
rcookie says to Holly1():HI HOLLY...YES 1ST TIME EVER LNG EXPORT..
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():But the fiscal transparency reporting in 2013 was an arbtrary move by maliki to extract money for personal not governmental or corporate legitamite reasons
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Could we go back to rectifying Article 8 Section 5 violations. Is that the focal point
rcookie says():OK...SO FROM ARTICLE 8...WHAT OBLIGATION DID THEY BREACH IN 2013..
eman4u55 says to rcookie():dont know (
rcookie says():I JUST POSTED IT............ rcookie says():^^^^ UP THERE SOMEWHERE^^^^
eman4u55 says():just like my brain its there some were
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():They let the spread get very wide which I guess was the way to get money out of the system into private banks I am not that fmiliar with Iraqi fraud tactics
rcookie says():(i) official holdings at home and abroad of (1) gold, (2) foreign exchange;
(ii) holdings at home and abroad by banking and financial agencies, other than official agencies, of (1) gold, (2) foreign exchange;
(iii) production of gold;
(iv) gold exports and imports according to countries of destination and origin;
(v) total exports and imports of merchandise, in terms of local currency values, according to countries of destination and origin;
(vi) international balance of payments, including (1) trade in goods and services, (2) gold transactions, (3) known capital transactions, and (4) other items;
rcookie says():(vii) international investment position, i.e., investments within the territories of the member owned abroad and investments abroad owned by persons in its territories so far as it is possible to furnish this information;
(viii) national income;
(ix) price indices, i.e., indices of commodity prices in wholesale and retail markets and of export and import prices;
(x) buying and selling rates for foreign currencies;
(xi) exchange controls, i.e., a comprehensive statement of exchange controls in effect at the time of assuming membership in the Fund and details of subsequent changes as they occur; and
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():a lot of place for leakage
rcookie says():(xii) where official clearing arrangements exist, details of amounts awaiting clearance in respect of commercial and financial transactions, and of the length of time during which such arrears have been outstanding.
rcookie says():(b) In requesting information the Fund shall take into consideration the varying ability of members to furnish the data requested.
Members shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed. Members undertake, however, to furnish the desired information in as detailed and accurate a manner as is practicable and, so far as possible, to avoid mere estimates.
(c) The Fund may arrange to obtain further information by agreement with members. It shall act as a centre for the collection and exchange of information on monetary and financial problems, thus facilitating the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.
rcookie says():THIS IS WHAT THEY WERE IN BREACH OF...................
rcookie says():AND AGAIN....ANYONE REMEMBER THE NAME OF THE IMF METAC WORKSHOP THEY JUST COMPLETED ON MARCH 13-16............
rcookie says():HELLO...
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():No not me, so now the IMF will monitor compliance. They will have review periods to confirm compliance. Hopefully with new CBI governor it will not break down now. Thats all the IMF can do they cant run theCBI
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():I dont remember surprise , surprise
rcookie says():THE IMF HAS BEEN MONITORING THEIR COMPLIANCE SINCE 2011...AND WILL CONTINUE TO DO SO THROUGH 2016....
rcookie says():THEY WERE IN BREACH OF FINANCIAL REPORTING...TIMELINESS...ETC...
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():periodic monitoring. So the politics that result in violations are better but theyb have to prove it.
rcookie says():THE IMF METAC WORKSHOP THEY JUST COMPLETED MARCH 13-16....WAS TITLED..."FISCAL REPORTING & TRANSPARENCY"...............
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():a good thing. Hopefully some one will execute it properly
eman4u55 says():THE ACME IMF METAC WORKSHOP THINGY
eman4u55 says():"FISCAL REPORTING & TRANSPARENCY" THATS WHAT I MENT
rcookie says():THE MAIN POINT IS THEY ALREADY HAVE....AND THESE 50 WORKSHOPS ARE THE FOLLOW THROUGH WITH THEIR ECONOMIC POLICIES AND ACTIONS...RELATIVE TO THE GLOBAL STANDARDS AND PRACTICES.....
rcookie says to eman4u55():WILE E COYOTE....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():The MOU and LOI outline these requirements but the Iraqi leadership has to perform and there has been no history of that.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Last question rcookie have the how long have the workshops been going on?
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():NO THAT IS COMPLETELY NOT TRUE...THAT IS THE POINT...THEY HAVE BEEN UNDER PROGRAM AND MONITORING SINCE 2011 AND ARE IN TOTAL COMPLIANCE....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():But you said in 2013 they fell out of compliance I thought
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():HERE ONCE AGAIN...THIS IS THE SUMMATION OF THE IMF LOI/MEFP/TECH MOU..
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():THERE THEY ARE MENTIONING IMF PROGRAM MONITORING THROUGH 2019...ACTUALLY 2020....RIGHT FROM IMF LOI/MEFP/TECH MOU...
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():DAVID...THEY DID NOT FALL OUT OF COMPLIANCE IN 2013....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():I get it rcookie its an ongoing mutual aggreement to watch the process. So there is no room for misunderstanding or external interpretation.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Sorry for being a tad dense on the compliance mechanics and history.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():I guess I won't get into the Kennedy School at Harvard but that was my dream retirement
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():You should though
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():YES...BUT THE ARTICLE 8 BREACH WAS DISCOVERED...ADDRESSED...GRANTED A WAIVER BY THE EXECUTIVE BOARD FOR NON OBSERVANCE OF ONE CONTINUOUS PERFORMANCE CRITERION (PC)...
AND DETERMINED "NO FURTHER REMEDIAL ACTION IS REQUIRED IN CONNECTION WITH ITS OBLIGATION TO PROVIDE INFORMATION UNDER ARTICLE VIII SECTION 5.....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():It's the future and we need the best people managing the emerging countries to adopt proper economic policy but when you look at Brazil thats a big challenge
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():THE POINT IS THAT IRAQ IS COMPLETELY AWARE OF ARTICLE VIII ATTAINMENT AND HAS BEEN ENGAGED FOR MANY YEARS NOW AND THROUGH THE END OF IMF SMP....
AND IS IN A COMPLIANT STATUS TO DO SO.......IT IS THEIR CALL...AND THEN ON TO WTO ACCESSION.
wmawhite says to rcookie():Look at this....it referrs to what you just posted:
wmawhite says to rcookie():12. The spread between the official and the parallel foreign exchange market rate receded to around 2 percentage points since August from as high as 16 percentage points in June, as a result of the elimination of the obligation to prove custom duty and income tax payments before buying foreign exchange.
rcookie says():SO YOU SEE....THINK ABOUT THE BREACH....AND WHAT WAS THE SUBJECT OF THE METAC WORKSHOP THEY JUST WENT THROUGH..........
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to wmawhite():METAC was a relative purcgasing power index vs comparable countries?
rcookie says():FISCAL REPORTING & TRANSPARENCY.......HELLOOOOOOOOOOO
rcookie says():ANYONE...
jarhead says():so they r working withthe imf correctly ??
rcookie says to jarhead():COMPLETELY CORRECT JAR...
jarhead says():fantastic
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():??? METAC WHAT....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Forget my question stupid
clay says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():nothing here is stupid
rcookie says to Holly1():HI HOLLY...YES 1ST TIME EVER LNG EXPORT..
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():But the fiscal transparency reporting in 2013 was an arbtrary move by maliki to extract money for personal not governmental or corporate legitamite reasons
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Could we go back to rectifying Article 8 Section 5 violations. Is that the focal point
rcookie says():OK...SO FROM ARTICLE 8...WHAT OBLIGATION DID THEY BREACH IN 2013..
eman4u55 says to rcookie():dont know (
rcookie says():I JUST POSTED IT............ rcookie says():^^^^ UP THERE SOMEWHERE^^^^
eman4u55 says():just like my brain its there some were
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():They let the spread get very wide which I guess was the way to get money out of the system into private banks I am not that fmiliar with Iraqi fraud tactics
rcookie says():(i) official holdings at home and abroad of (1) gold, (2) foreign exchange;
(ii) holdings at home and abroad by banking and financial agencies, other than official agencies, of (1) gold, (2) foreign exchange;
(iii) production of gold;
(iv) gold exports and imports according to countries of destination and origin;
(v) total exports and imports of merchandise, in terms of local currency values, according to countries of destination and origin;
(vi) international balance of payments, including (1) trade in goods and services, (2) gold transactions, (3) known capital transactions, and (4) other items;
rcookie says():(vii) international investment position, i.e., investments within the territories of the member owned abroad and investments abroad owned by persons in its territories so far as it is possible to furnish this information;
(viii) national income;
(ix) price indices, i.e., indices of commodity prices in wholesale and retail markets and of export and import prices;
(x) buying and selling rates for foreign currencies;
(xi) exchange controls, i.e., a comprehensive statement of exchange controls in effect at the time of assuming membership in the Fund and details of subsequent changes as they occur; and
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():a lot of place for leakage
rcookie says():(xii) where official clearing arrangements exist, details of amounts awaiting clearance in respect of commercial and financial transactions, and of the length of time during which such arrears have been outstanding.
rcookie says():(b) In requesting information the Fund shall take into consideration the varying ability of members to furnish the data requested.
Members shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed. Members undertake, however, to furnish the desired information in as detailed and accurate a manner as is practicable and, so far as possible, to avoid mere estimates.
(c) The Fund may arrange to obtain further information by agreement with members. It shall act as a centre for the collection and exchange of information on monetary and financial problems, thus facilitating the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.
rcookie says():THIS IS WHAT THEY WERE IN BREACH OF...................
rcookie says():AND AGAIN....ANYONE REMEMBER THE NAME OF THE IMF METAC WORKSHOP THEY JUST COMPLETED ON MARCH 13-16............
rcookie says():HELLO...
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():No not me, so now the IMF will monitor compliance. They will have review periods to confirm compliance. Hopefully with new CBI governor it will not break down now. Thats all the IMF can do they cant run theCBI
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():I dont remember surprise , surprise
rcookie says():THE IMF HAS BEEN MONITORING THEIR COMPLIANCE SINCE 2011...AND WILL CONTINUE TO DO SO THROUGH 2016....
rcookie says():THEY WERE IN BREACH OF FINANCIAL REPORTING...TIMELINESS...ETC...
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():periodic monitoring. So the politics that result in violations are better but theyb have to prove it.
rcookie says():THE IMF METAC WORKSHOP THEY JUST COMPLETED MARCH 13-16....WAS TITLED..."FISCAL REPORTING & TRANSPARENCY"...............
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():a good thing. Hopefully some one will execute it properly
eman4u55 says():THE ACME IMF METAC WORKSHOP THINGY
eman4u55 says():"FISCAL REPORTING & TRANSPARENCY" THATS WHAT I MENT
rcookie says():THE MAIN POINT IS THEY ALREADY HAVE....AND THESE 50 WORKSHOPS ARE THE FOLLOW THROUGH WITH THEIR ECONOMIC POLICIES AND ACTIONS...RELATIVE TO THE GLOBAL STANDARDS AND PRACTICES.....
rcookie says to eman4u55():WILE E COYOTE....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():The MOU and LOI outline these requirements but the Iraqi leadership has to perform and there has been no history of that.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Last question rcookie have the how long have the workshops been going on?
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():NO THAT IS COMPLETELY NOT TRUE...THAT IS THE POINT...THEY HAVE BEEN UNDER PROGRAM AND MONITORING SINCE 2011 AND ARE IN TOTAL COMPLIANCE....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():But you said in 2013 they fell out of compliance I thought
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():HERE ONCE AGAIN...THIS IS THE SUMMATION OF THE IMF LOI/MEFP/TECH MOU..
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():THERE THEY ARE MENTIONING IMF PROGRAM MONITORING THROUGH 2019...ACTUALLY 2020....RIGHT FROM IMF LOI/MEFP/TECH MOU...
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():DAVID...THEY DID NOT FALL OUT OF COMPLIANCE IN 2013....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():I get it rcookie its an ongoing mutual aggreement to watch the process. So there is no room for misunderstanding or external interpretation.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Sorry for being a tad dense on the compliance mechanics and history.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():I guess I won't get into the Kennedy School at Harvard but that was my dream retirement
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():You should though
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():YES...BUT THE ARTICLE 8 BREACH WAS DISCOVERED...ADDRESSED...GRANTED A WAIVER BY THE EXECUTIVE BOARD FOR NON OBSERVANCE OF ONE CONTINUOUS PERFORMANCE CRITERION (PC)...
AND DETERMINED "NO FURTHER REMEDIAL ACTION IS REQUIRED IN CONNECTION WITH ITS OBLIGATION TO PROVIDE INFORMATION UNDER ARTICLE VIII SECTION 5.....
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():It's the future and we need the best people managing the emerging countries to adopt proper economic policy but when you look at Brazil thats a big challenge
rcookie says to David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..]():THE POINT IS THAT IRAQ IS COMPLETELY AWARE OF ARTICLE VIII ATTAINMENT AND HAS BEEN ENGAGED FOR MANY YEARS NOW AND THROUGH THE END OF IMF SMP....
AND IS IN A COMPLIANT STATUS TO DO SO.......IT IS THEIR CALL...AND THEN ON TO WTO ACCESSION.
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says to rcookie():Thanks again rcookie. I really appreciate you sharing your amazing knowledge.
tman23 says():The demonetisation of the Zimbabwe dollar which was announced by the Minister of Finance and Economic Development in the 2014 National Budget, as well as, in the Mid-term Fiscal Review, and in the Monetary Policy Statement of January 2015, commenced on 15 June 2015 and ended on 30 September 2015.
The purpose of demonetization of the local unit was to promote consumer and business confidence by providing credibility to the multi-currency system and legally retiring the Z$. DEFINITION.......Demonetization is the act of stripping a currency unit of its status as legal tender.
THIS IS OFFICIAL FROM CENTRAL RESERVE OF ZIMBABWE.... PAGE 31..... http://ift.tt/1UsZB70 ......
http://ift.tt/1nYU4ad
rcookie says():AND CITIZENS ABILITY TO INVEST DIRECTLY IN BONDS TOWARD THAT PROJECT IS AMAZING...AND WILL GIVE THEM SKIN IN THE GAME.....
tman23 says():And some should take the time to read the 2016 review for policy......and compare some of it to Iraq........ http://ift.tt/1UsZB70
http://ift.tt/1nYU4ad
clay says to tman23():can the Zim ever come back
Baxter1243 says():Clay..... it sure doesnt look good.... want to buy some? (lol)
tman23 says to clay():They may introduce a NEW when they get economic factors turned around.......But the Z$ anyone holds is DEAD PAPER
tman23 says():The demonetisation of the Zimbabwe dollar which was announced by the Minister of Finance and Economic Development in the 2014 National Budget, as well as, in the Mid-term Fiscal Review, and in the Monetary Policy Statement of January 2015, commenced on 15 June 2015 and ended on 30 September 2015.
The purpose of demonetization of the local unit was to promote consumer and business confidence by providing credibility to the multi-currency system and legally retiring the Z$. DEFINITION.......Demonetization is the act of stripping a currency unit of its status as legal tender.
THIS IS OFFICIAL FROM CENTRAL RESERVE OF ZIMBABWE.... PAGE 31..... http://ift.tt/1UsZB70 ......
http://ift.tt/1nYU4ad
rcookie says():AND CITIZENS ABILITY TO INVEST DIRECTLY IN BONDS TOWARD THAT PROJECT IS AMAZING...AND WILL GIVE THEM SKIN IN THE GAME.....
tman23 says():And some should take the time to read the 2016 review for policy......and compare some of it to Iraq........ http://ift.tt/1UsZB70
http://ift.tt/1nYU4ad
clay says to tman23():can the Zim ever come back
Baxter1243 says():Clay..... it sure doesnt look good.... want to buy some? (lol)
tman23 says to clay():They may introduce a NEW when they get economic factors turned around.......But the Z$ anyone holds is DEAD PAPER
via Dinar Recaps - Our Blog http://ift.tt/1UsZB73
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