DINAR UPDATES 4-24-16
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Sunday AM Chat 4-24-16 Part 1 of 2
rcookie says():NOW THAT JORDANIAN BORDER CROSSING REOPENING IS PROBABLY DRIVEN WITH THE NEWS LAST WEEK OF 20,000 US TRAINED SUNNI FORCES BEING DEPLOYED ON IRAQ BORDERS OF JORDAN AND KUWAIT....
rcookie says():Documents ... the Federal Court stands on the mound in the interpretation of Thursday 's session Posted by: admin2 24 April, 2016 Policy
Home 10 policy 10 documents ... the Federal Court stands on the mound in the interpretation of Thursday 's session
http://ift.tt/1QhqLGM
ol lar says to rcookie():I hate to seem ignorant but can you answer me a question, did the IMF tell Iraq not to let their reserves get below 52 Billion? And don't the Auctions actually sell off the reserves? And thirdly , If the first two answers are yes then are there any acurate numbers on where the reserves are now?
~~~
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Sunday AM Chat 4-24-16 Part 1 of 2
rcookie says():NOW THAT JORDANIAN BORDER CROSSING REOPENING IS PROBABLY DRIVEN WITH THE NEWS LAST WEEK OF 20,000 US TRAINED SUNNI FORCES BEING DEPLOYED ON IRAQ BORDERS OF JORDAN AND KUWAIT....
rcookie says():Documents ... the Federal Court stands on the mound in the interpretation of Thursday 's session Posted by: admin2 24 April, 2016 Policy
Home 10 policy 10 documents ... the Federal Court stands on the mound in the interpretation of Thursday 's session
http://ift.tt/1QhqLGM
ol lar says to rcookie():I hate to seem ignorant but can you answer me a question, did the IMF tell Iraq not to let their reserves get below 52 Billion? And don't the Auctions actually sell off the reserves? And thirdly , If the first two answers are yes then are there any acurate numbers on where the reserves are now?
~~~
rcookie says():OK....THA IS A GREAT QUESTION AND WILL PUT TO REST SOME OF THE UNINFORMED STATEMENTS FLOATING OUT THERE ...EVEN IN THIS ROOM...BECSUSE OF NOT SIMPLY READEING THE PLAN...
rcookie says():IRAQS RESERVE STATUS IS EXACTLY.....EXACTLY...EXACTLY WHERE IT IS PROGRAMMED TO BE (ACTUALLY A LITTLE AHEAD) FROM THE IMF TECHNICAL ASSISTANCE ACTION PLAN THAT TAKES THEM THROUGH 2018....AND BEYOND...
rcookie says():IT IS 100% CLEARLY OUTLINED IN THE 2016 IMF LOI/MEFP/TECH MOU...THAT THEY ARE PROGRAMMED TO BE AT 43 BILLION IN RESERVES AT END OF 2016...
rcookie says():YES...THERE HAVE BEEN RECENT REPORTS OF THE RESERVES AT 55 BILLION AND 89.9 TONNES OF GOLD...
rcookie says():I WILL EVEN ONCE AGAIN SHOW WHERE YOU CAN FIND THE CBI STATEMENT WITHIN THE IMF ACTION PLAN FRAMEWORK SO YOU CAN SEE WHERE THEIR RESERVE LEVELS SHOULD BE YEAR TO YEAR...
rcookie says to ol lar():OL LAR...YOU READY...AND ANYONE ELSE INTERESTED...
rcookie says to ol lar():NOW BATTING...MANNY MOTA...MOTA...MOTA...MOTA..
Hutch says to rcookie():peanuts!... HOTDOGS....getcha HOTDOGS right here !
rcookie says to ol lar():OL LAR LEAVE...
eman4u55 says():we need a pitcher not a glass of water!!!!
da58 says():This is an interview synopsis.. regarding the history, present - of the key players - very interesting..has lots of the background on the key players in Iraq... Sadr, Maliki, Alawi, Hakim, Mahdi, Jaafari, Hussein, the Dawa party, the Baathists, Iran... wow... this guy interviewed... good read... LINK
Hutch says to rcookie():clock is on
rcookie says to da58():HE HAD A GREAT QUESTION...I HAD TO GET LINK..BECAUSE I HAVE PDF..
rcookie says to ol lar():OK YOU READY...
ol lar says to rcookie():yep
rcookie says to ol lar(9:56 AM): http://ift.tt/1XTZoZr
rcookie says to ol lar():GO TO PAGE 9
rcookie says to ol lar():YOU SEE TABLE 2...
ol lar says to rcookie():looking
ol lar says to rcookie():Actual budget execution during January-August?
ol lar says to rcookie():never mind yes I see table 2
rcookie says to ol lar():OK ...NOW LOOK AT LASTVROW...TITLED GROSS INT'L RESERVES IN US BILLIONS...
rcookie says to ol lar():SEE IT...
ol lar says to rcookie():42.5
rcookie says to ol lar():TELL ME WHERE THEY ARE PROGRAMMED TO BE A END OF 2016...
Dr Dave says():Man RC you deserve an award for all you efforts here
rcookie says to ol lar():SO IF THEY ARE AT 43 B AT END OF 2016 THEY ARE SLIGHTLY AHEAD OF WHERE THE IMF HAS THEM PROGRAMMED TO BE...THE SKY IS NOT FALLING...WOMEN AND CHILDREN ARE SAFE....AND YOU ARE FREE TO WALK ABOUT THE CABIN...
ol lar says to rcookie():ok ,so do the auctions onlt sell dollars? or both to regulate inflation
ol lar says to rcookie():just trying to understand why the stopping of auctions is so important ,if it is
ol lar says to rcookie():BTW thanks for taking the time to educate me
rcookie says to ol lar():CBI Control
One short sentence answers all these questions: the Central Bank of Iraq regulates the flow of money through controlled auctions
rcookie says to ol lar():Needless to say, this is not normal. In most other countries, money can be easily exchanged into a number of currencies at the will and whim of any citizen. The exchange rates are allowed to move freely according to the forces of supply and demand, interest rates, etc.
rcookie says to ol lar():“Every day since 2004, the CBI has held an auction through which hard currency is sold to banks, companies and traders in exchange for evidence of import and transaction receipts. The auctions aim to prevent market speculation and stabilize the exchange rate of Iraqi dinars to the US dollar.”
rcookie says to ol lar():The purpose of these auctions is to control the IQD:USD exchange rate by controlling the amount of USD circulating in Iraq. At these auctions, USD is issued exclusively to banks, companies and traders for the purpose of conducting business transactions with foreign entities (ie: importers, securities traders, banks, etc).
By controlling the amount of USD available in Iraq, the Iraqi government controls the value of the USD relative to its own currency, thereby stabilizing the dinar.
rcookie says to ol lar():Cracking Down on Auction Abuses
Things were going really great for years, until evidence turned up that some buyers at these auctions were falsifying their transaction receipts, enabling them to purchase more USD than their business activity legitimately entitled them to have.
The government believes much of the excess dollars purchased were smuggled across the border into Iran, which has a shortage of hard international currency due to sanctions. Money laundering and black market demand account for the remainder of auction abuses.
ol lar says to rcookie():nice, got it, thanks you're a good sort
rcookie says to ol lar():Anger Over Weakening Dinar
Iraqi citizens and businesses who do not have dealings with foreign entities are understandably angered by CBI controls aimed at keeping the dinar weak. A weak currency means citizens and businesses need to pay more for goods and services, especially since so many goods are still being imported from abroad.
rcookie says to ol lar():the CBI must take “full responsibility for the fall of the … Iraqi dinar … because of its restrictive measures in granting permits to exchange companies.” And Mohammed Khalil, an official on Iraq’s Economic and Investment Committee, accused the CBI of deliberately “hinder[ing] the flow of US dollars into the market.”
rcookie says to ol lar():Hussein al-Yasiri said some banks have stopped selling dollars to regular customers and instead have been selling them to exchange companies.
This has prompted Iraqis to buy dollars from the exchange companies at prices favorable to the companies. The exchanges are not subject to government monitoring.”
rcookie says to ol lar():AND THAT IS WHAT HAS CHANGED RECENTLY WITH THE NEWS OF RAFIDAIN & RASHEED NEWLY EESTRUCTURED BRANCHES OPENING ALL OVER IRAQ OFFERING 1 STOP COMPREHENSIVE BANKING SERVICES TO CUSTOMERS AS NEVER BEFORE... GENERAL... STOCKS.. BONDS...LOANS AND AUCTION WINDOWS...WHICH REMOVES THE SHYLOCKS AND SPECULATORS..
rcookie says to ol lar():THIS IS BASICALLY WHAT HAS UNDERMINED THE AUCTION MISSION STATEMENT...
wmawhite says to rcookie():Interesting in that the Rafidian and Rasheed seeling directly to the citizens ought to correct what the individual above is complaining about.
ol lar says to rcookie():some here seem to be down on this , these are major advancements to a free market system, I don't get it
ol lar says to rcookie():very pumped
rcookie says to ol lar():WELL SPOKEN...
rcookie says():IRAQS RESERVE STATUS IS EXACTLY.....EXACTLY...EXACTLY WHERE IT IS PROGRAMMED TO BE (ACTUALLY A LITTLE AHEAD) FROM THE IMF TECHNICAL ASSISTANCE ACTION PLAN THAT TAKES THEM THROUGH 2018....AND BEYOND...
rcookie says():IT IS 100% CLEARLY OUTLINED IN THE 2016 IMF LOI/MEFP/TECH MOU...THAT THEY ARE PROGRAMMED TO BE AT 43 BILLION IN RESERVES AT END OF 2016...
rcookie says():YES...THERE HAVE BEEN RECENT REPORTS OF THE RESERVES AT 55 BILLION AND 89.9 TONNES OF GOLD...
rcookie says():I WILL EVEN ONCE AGAIN SHOW WHERE YOU CAN FIND THE CBI STATEMENT WITHIN THE IMF ACTION PLAN FRAMEWORK SO YOU CAN SEE WHERE THEIR RESERVE LEVELS SHOULD BE YEAR TO YEAR...
rcookie says to ol lar():OL LAR...YOU READY...AND ANYONE ELSE INTERESTED...
rcookie says to ol lar():NOW BATTING...MANNY MOTA...MOTA...MOTA...MOTA..
Hutch says to rcookie():peanuts!... HOTDOGS....getcha HOTDOGS right here !
rcookie says to ol lar():OL LAR LEAVE...
eman4u55 says():we need a pitcher not a glass of water!!!!
da58 says():This is an interview synopsis.. regarding the history, present - of the key players - very interesting..has lots of the background on the key players in Iraq... Sadr, Maliki, Alawi, Hakim, Mahdi, Jaafari, Hussein, the Dawa party, the Baathists, Iran... wow... this guy interviewed... good read... LINK
Hutch says to rcookie():clock is on
rcookie says to da58():HE HAD A GREAT QUESTION...I HAD TO GET LINK..BECAUSE I HAVE PDF..
rcookie says to ol lar():OK YOU READY...
ol lar says to rcookie():yep
rcookie says to ol lar(9:56 AM): http://ift.tt/1XTZoZr
rcookie says to ol lar():GO TO PAGE 9
rcookie says to ol lar():YOU SEE TABLE 2...
ol lar says to rcookie():looking
ol lar says to rcookie():Actual budget execution during January-August?
ol lar says to rcookie():never mind yes I see table 2
rcookie says to ol lar():OK ...NOW LOOK AT LASTVROW...TITLED GROSS INT'L RESERVES IN US BILLIONS...
rcookie says to ol lar():SEE IT...
ol lar says to rcookie():42.5
rcookie says to ol lar():TELL ME WHERE THEY ARE PROGRAMMED TO BE A END OF 2016...
Dr Dave says():Man RC you deserve an award for all you efforts here
rcookie says to ol lar():SO IF THEY ARE AT 43 B AT END OF 2016 THEY ARE SLIGHTLY AHEAD OF WHERE THE IMF HAS THEM PROGRAMMED TO BE...THE SKY IS NOT FALLING...WOMEN AND CHILDREN ARE SAFE....AND YOU ARE FREE TO WALK ABOUT THE CABIN...
ol lar says to rcookie():ok ,so do the auctions onlt sell dollars? or both to regulate inflation
ol lar says to rcookie():just trying to understand why the stopping of auctions is so important ,if it is
ol lar says to rcookie():BTW thanks for taking the time to educate me
rcookie says to ol lar():CBI Control
One short sentence answers all these questions: the Central Bank of Iraq regulates the flow of money through controlled auctions
rcookie says to ol lar():Needless to say, this is not normal. In most other countries, money can be easily exchanged into a number of currencies at the will and whim of any citizen. The exchange rates are allowed to move freely according to the forces of supply and demand, interest rates, etc.
rcookie says to ol lar():“Every day since 2004, the CBI has held an auction through which hard currency is sold to banks, companies and traders in exchange for evidence of import and transaction receipts. The auctions aim to prevent market speculation and stabilize the exchange rate of Iraqi dinars to the US dollar.”
rcookie says to ol lar():The purpose of these auctions is to control the IQD:USD exchange rate by controlling the amount of USD circulating in Iraq. At these auctions, USD is issued exclusively to banks, companies and traders for the purpose of conducting business transactions with foreign entities (ie: importers, securities traders, banks, etc).
By controlling the amount of USD available in Iraq, the Iraqi government controls the value of the USD relative to its own currency, thereby stabilizing the dinar.
rcookie says to ol lar():Cracking Down on Auction Abuses
Things were going really great for years, until evidence turned up that some buyers at these auctions were falsifying their transaction receipts, enabling them to purchase more USD than their business activity legitimately entitled them to have.
The government believes much of the excess dollars purchased were smuggled across the border into Iran, which has a shortage of hard international currency due to sanctions. Money laundering and black market demand account for the remainder of auction abuses.
ol lar says to rcookie():nice, got it, thanks you're a good sort
rcookie says to ol lar():Anger Over Weakening Dinar
Iraqi citizens and businesses who do not have dealings with foreign entities are understandably angered by CBI controls aimed at keeping the dinar weak. A weak currency means citizens and businesses need to pay more for goods and services, especially since so many goods are still being imported from abroad.
rcookie says to ol lar():the CBI must take “full responsibility for the fall of the … Iraqi dinar … because of its restrictive measures in granting permits to exchange companies.” And Mohammed Khalil, an official on Iraq’s Economic and Investment Committee, accused the CBI of deliberately “hinder[ing] the flow of US dollars into the market.”
rcookie says to ol lar():Hussein al-Yasiri said some banks have stopped selling dollars to regular customers and instead have been selling them to exchange companies.
This has prompted Iraqis to buy dollars from the exchange companies at prices favorable to the companies. The exchanges are not subject to government monitoring.”
rcookie says to ol lar():AND THAT IS WHAT HAS CHANGED RECENTLY WITH THE NEWS OF RAFIDAIN & RASHEED NEWLY EESTRUCTURED BRANCHES OPENING ALL OVER IRAQ OFFERING 1 STOP COMPREHENSIVE BANKING SERVICES TO CUSTOMERS AS NEVER BEFORE... GENERAL... STOCKS.. BONDS...LOANS AND AUCTION WINDOWS...WHICH REMOVES THE SHYLOCKS AND SPECULATORS..
rcookie says to ol lar():THIS IS BASICALLY WHAT HAS UNDERMINED THE AUCTION MISSION STATEMENT...
wmawhite says to rcookie():Interesting in that the Rafidian and Rasheed seeling directly to the citizens ought to correct what the individual above is complaining about.
ol lar says to rcookie():some here seem to be down on this , these are major advancements to a free market system, I don't get it
ol lar says to rcookie():very pumped
rcookie says to ol lar():WELL SPOKEN...
wmawhite says to ol lar():The sky could part in the east and we could be blinded by the light and some paople would complain that the sky was falling.....
rcookie says to wmawhite():AGREED....AND ANOTHER INTERESTING POINT THAT WE MENTIONED IN PREVIOUS CALL.....WHO OWNS RAFIDAIN & RASHEED BANKS.......
wmawhite says to rcookie():MoF
wmawhite says to rcookie():people*
rcookie says to wmawhite():SO ISNT IT INTERESTING THAT ABOUT A MONTH AGO WHEN AN ECONOMIST SUGGESTED THE MOF HANDLE THE AUCTIONS...
THE VERY NEXT DAY ALAK WAS IN MNEDIA SAYING THAT ALTHOUGH TECHNICALLY MOF COULD BE INVOLVED IN AUCTIONS...IT WOULD BE BETTER IF CBI CONTINUED TO OVERSEE.....
AND NOW AUCTIONS WITH THE NEWLY IMPLEMENTED PROCESSES...ARE IN SOME OF THESE NEWLY RESTRUCTURED BANKS OPENING UP THROUGHOUT THE COUNTRY...
wmawhite says to rcookie():not coincidental...
rcookie says to wmawhite():DIRECTLY TO CITIZENS....
puffdragon says to rcookie():Isnt the MOF Hosuer Zubari and isnt he on the long crooks list ?
rcookie says to ol lar():HOPE THAT HELPS...(y)
ol lar says to rcookie():awesome sir thanx
rcookie says to puffdragon():HE IS....MUST HAVE PICTURES OF SOMEONE....
rcookie says():I WOULD SAY SO...
rcookie says to wmawhite():AGREED....AND ANOTHER INTERESTING POINT THAT WE MENTIONED IN PREVIOUS CALL.....WHO OWNS RAFIDAIN & RASHEED BANKS.......
wmawhite says to rcookie():MoF
wmawhite says to rcookie():people*
rcookie says to wmawhite():SO ISNT IT INTERESTING THAT ABOUT A MONTH AGO WHEN AN ECONOMIST SUGGESTED THE MOF HANDLE THE AUCTIONS...
THE VERY NEXT DAY ALAK WAS IN MNEDIA SAYING THAT ALTHOUGH TECHNICALLY MOF COULD BE INVOLVED IN AUCTIONS...IT WOULD BE BETTER IF CBI CONTINUED TO OVERSEE.....
AND NOW AUCTIONS WITH THE NEWLY IMPLEMENTED PROCESSES...ARE IN SOME OF THESE NEWLY RESTRUCTURED BANKS OPENING UP THROUGHOUT THE COUNTRY...
wmawhite says to rcookie():not coincidental...
rcookie says to wmawhite():DIRECTLY TO CITIZENS....
puffdragon says to rcookie():Isnt the MOF Hosuer Zubari and isnt he on the long crooks list ?
rcookie says to ol lar():HOPE THAT HELPS...(y)
ol lar says to rcookie():awesome sir thanx
rcookie says to puffdragon():HE IS....MUST HAVE PICTURES OF SOMEONE....
rcookie says():I WOULD SAY SO...
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