Author Topic: Michigander0131 - 30 Oct 2014, 5:51 p.m. EDT  (Read 149 times)

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Michigander0131 - 30 Oct 2014, 5:51 p.m. EDT
« on: October 30, 2014, 06:51:55 PM »
IMF: security spending to fight the "Daash" will affect the Iraqi economy 28-10-2014 07:13 AM International Monetary Fund said Monday that the Iraqi economy will shrink by 2.7 percent this year, for the first time since the Western invasion of the country in 2003, after he dominated the organization of the so-called Islamic State (Daash) over large areas of Iraq. The Fund says that this contraction is followed by growth of 4.2 percent in 2013, which in turn was the weakest since 2007. The organization 'Daash' may be extended in Iraq rapidly in the last summer, without little resistance on the part of government forces, and now controls almost one-third of the area of Iraq

30-10-2014 07:25 AM Second, the Court of lkerkh in Iraq, a request to fetch the Vice-President, former Iraqi Prime Minister, Nouri al-Maliki, and former Secretary, Stephen kateaa (Abu Mujahid), to consider the complaint against them on charges of attempted murder, said a source in the judiciary. Different websites, published yesterday, reports that Al-Maliki to influence the judiciary after the lifting of the Special Criminal Court, which prosecuted the late Iraqi President Saddam Hussein, Munir Hadad, a lawsuit against Al-Maliki walrkabi, charged with death threats and obstruction of Justice. This is the first case brought against Al-Maliki, after he took the post of Vice-President of the Republic.

The article says this is the first case brought against Maliki since he is no longer the PM. It's the first which will be prosecuted. If they don't get him on this they'll get him on one of many other cases of which he can be prosecuted.
  
Metal coins from the category of 25 fils were in circulation until the nineties of the last century Hazem al-Shara 30/10/2014 Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation. She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

Metal coins from the category of 25 fils were in circulation until the nineties of the last century Hazem al-Shara 30/10/2014 Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation. She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually.

confirms the plan is to start very soon and have it last "up to 5 years" Not to mention the term "gradual" again...sorry RV peeps.    This is the best thing that could have ever happened..a gradual appreciation because it means that the dinar will retain its value. the dinar is undervalued so we should see some sort of correction initially and from there a rise in value based on market forces.

getting excited for january and the start of there program
To /all banks (modify the instructions and standards of securities cash) 2014-10-27 http://www.cbi.iq/docume ยทยทยท 2014.pdf

This is to inform you that the central bank will not impose any fees or penalties on banks or individuals depositing or exchanging damaged banknotes therefore all banks must accept all damaged banknotes from citizens without imposing a fee or penalty."

the CBI is doing everything under its power to 1. make sure they have a sound monetary policy/dinar in country before they transition to Article VIII. and 2. to squelch those that spoke up often that the delete zeros project would.."facilitate the mafia money laundering steal billions" or..."warning of "mafias currency" is preparing to rig the trillions Iraqi dinars to replace them" These new notes once circulated replacing the old worn out notes should solve that problem.

the CBI is doing everything under its power to 1. make sure they have a sound monetary policy/dinar in country before they transition to Article VIII. and 2. to squelch those that spoke up often that the delete zeros project would.."facilitate the mafia money laundering steal billions" or..."warning of "mafias currency" is preparing to rig the trillions Iraqi dinars to replace them" These new notes once circulated replacing the old worn out notes should solve that problem.

1) the banking laws need to be in place, & we are hopping they get them paced soon. One could take the fact they want to have them done by the begining of the year for them to start with the float around the begining of the year. 2) the rise in value of the dinar, I think 1 year to maybe reach 1-1 & figure a buck a year after that. 3) the removal of the 000 notes over time, they need the value to reach close to 1-1 before they can start the removal of those 000 notes so closer to mid or end of 2015 before they remove large amounts of those 000 notes. 4) as for the 5 years, Think that some Iraqis will hold the 000notes as long as they can since the value will be rising they won't need to break those 000 notes as fast so they might need the 5 year to fully remove all the 000 notes to where they only a few here & there after that as colectors will want to keep one for their collection (just as their are a few $1000 dollar bills still out in the hands of collectors here in the states). The banks in Iraq will need to show they can be trusted before Iraqis will put money into them so the 5 years could also be a time to have Iraqis deposit money as well into bank accountsas the Iraqis gain more confidence in the banking system in Iraq. THey won't want to keep as much stuffed in their mattress.

just a couple thoughts    

The replacement of the existing notes is a prerequisite! to the currency rate change "calling: the central bank to speed up the issuance of these new currencies in preparation for the implementation of the project to delete the three zeroes from the currency"

the new timeline of 5 years may certainly imply a deal was made to manage float it now over that timeline to...1. start the process so a market economy can start. 2. provide adequate time to stability the country and remove ISIL.

[hopeful2&2] michigander0131 so r you saying they could start the float now, because its gonna take awhile anyway

They lost a decade screwing around with Maliki and Allawi. They have zero economy other than oil, and their military and internal security will have to be rebuilt from the ground up. Since oil is traded in dollars, they can continue to go the way they are going and survive, while they attempt to rebuild their security and military. Oil will probably go back up at some point, so they will survive economically.

hopeful2&2 no they will start it in 2015 they just need to start replacing the currency that is torn and also the get as much couterfiet off street

the new bills will come out first

when we see those on the streets and being used then we will know we are close also they still will need article 8 in order to be able to go international//per IMF

hopeful2&2 IT WILL TAKE AWILE ANYWAYS// thats what the flote is all about so it doesnt shock there economy

there will not be any over night rv//

[hopeful2&2] michigander0131 with them using the dollar now, couldn't it start around a buck per dinar, that really would be no different than using the dollar would it

hopeful2&2 well they cant do that this is not for there citizens to get rich quick// and there economy couldnt sustain that thats why the IMF wants a flote that is driven by there economy as it grows so will the value of the dinar

they cannot go on oil alone

time for din- din