Author Topic: COFFEE WITH MAC 2/24/2016  10:04am est  (Read 666 times)

Online arizona49

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COFFEE WITH MAC 2/24/2016  10:04am est
« on: February 24, 2016, 11:03:26 AM »
COFFEE WITH MAC  2/24/2016  10:04am est
jannilew:  Hi Mac!
arizona49:  mac Good morning  here you go (coffee)
mac:  Good morning room!
mac:  Thanks for the cup AZ!!!
arizona49:  you are very welcome
mac:  Doing well
mac:  So has everyone been reading the news?
jannilew:  yes sir
jannilew:  looks like stuff is still moving forward
mac:  Sweet! Let me know your impressions
jannilew:  well, I find it weird that all these govt officials just... turned in their resignations... bada bing bada boom. Sure isn't like it would be around here. But, okay
arizona49:  Steady as she goes
mac:  Janni, about a year ago I said when everyone asked how Abadi could work with this parliament "He is keeping them all in the same room and working on eliminating from the outside in." Abadi has done just that. These MP's have no where to go. Either way they will either resign in shame or be prosecuted in shame. Its up to them now, but they know they are caught. The smart ones are handing in resignations to avoid prison.
mac:  Depending on how you do the math there were 6 resignations and today 51 ministers to be removed, so 51-57 govt officials removed in 2 days
Michigander:  the next few weeks will be very interesting especially to see who he replaces in the financial sector // he needs to get rid of mallikis cronies that are still running the show
jannilew:  Ahhhh.. cool
mac:  Mich they did that this past weekend for the CBI
Michigander:  and the biggest maliki guy is head of CBI
Michigander:  oh haven't seen who is new cbi head
mac:  Also there are 3 names picked for each of the cabinet reps replacements. Vetting is in progress today.
arizona49:  Supreme Council calls for accelerating the completion of the reshuffle
mac:  Mich, alak has been called out by everyone, his bloc, nat'l alliance, finance ministry, he knows as does the rest of Iraq that his goose is cooked. He now gets to wait for the other shoe to drop.
mac:  CBI govenor has not been announced, not even canidates. However Abadi and the MOF stated a technically competent individual who is well respected in the financial community in and out of Iraq was mentioned. Wonder who fits those shoes....
Michigander:  much of the reforms are outside the CBI, meaning parliament passing laws. That being said, managing the auctions, improving the banking system, etc. falls under Allaq and so far it seems he is following what is expected of him. Certainly the IMF is watching as they even call it a "monitoring program." I would continue on the same path at least until August so we can see if they can accomplish what was stated.
Michigander:  History has shown any change in CBI governor has slowed monetary policy. In fact, it has been proven with the change from Shabibi to Turki, the Allaq, that a change creates a period of "acclimation" for the new governor. If they are really about ready to open the banking system, and move to Article VIII and float the dinar, now is not the time to remove Allaq.
mac:  I understand that Mich but the transitions you mentioned were politically motivated and manipulated. I dont know if those are good examples to use. The two replacements for Shabibbi did not have the credentials let alone the accumen to perform their duties.
Michigander:  allaq has been following exactly what the imf has suggested they just said that in there annual report//
Michigander:  we will see hope abadi has a good one to put forth haven't heard any names yet
mac:  Allaq has only been following those mandates since the IMF moved into the CBI. In all honesty, the citizens are hanging on by a thread due to a lack that you pointed out was private business, unemployment is past the 25% stage on average thru all of Iraq. Imports are languishing in ports for lack of clear tariffs and will sit there perishable or not for GOd knows how long. August? Really?
Michigander:  Mobile money goes live in Iraq with ‘Zain Cash’ February 23, 2016 eServGlobal is pleased to announce the commercial launch of mobile money services with Zain Iraq. The service was soft-launched in January and has already attracted strong interest. The service is called ‘Zain Cash’ and is offered by Iraq Wallet, which is an authorised company from the Central Bank of Iraq (CBI). Through Zain Cash, customers can have a mobile wallet linked to their SIM card, enabling customers to make financial transactions easily and at any time (Cash-In/ Cash-out, transfer money from wallet to another, recharge for prepaid account & bill payment for postpaid account).
Michigander:  august is a good start
mac:  Mich, the requirement for that is you have to have a bank account to draw from. Only 10% of the population have such an account.
Michigander:  yea still a good start more will follow
mac:  Mich I guess more directly, you think the Iraq population can starve for that long?
Michigander:  45.6 million customers spanning Kuwait, Bahrain, Iraq, Jordan, Lebanon, Saudi Arabia, South Sudan and Sudan.
mac:  Sadr appears to be a real fire under several bottomsides to get these reforms done.
Michigander:   they wont starve
Michigander:  they will wait and life will go on just as it has until they start the flote
mac:  float
Michigander:  yea FLOAT
arizona49:  Document .. Sadr issued instructions to the demonstrators Friday and calls for the commitment of the
mac:  Mich amnesty law moved to Mar 1
Michigander:  would like to see deposit law first so peeps there can feel safe depositing money in the banks// no protection yet
mac:  Mich deposit insurance is waiting to be voted on correct?
Michigander:  "parliament" Looking Iraqi officials involved in the smuggling of money through secret session Iraqi parliament Najla al-Taie of Baghdad I decided the presidency of the Iraqi parliament converting discuss the involvement of some government officials in corruption cases to the "secret" session, recommending the House of Representatives not to disclose any information to remember.
mac:  Ok all, going to run. Oh Iran will be closing its borders for the next 3 days for elections. Stay in faith where you are and God can guide from there.
arizona49:  Iran closed its border crossings with the Kurdistan Regional .. effect from Wednesday for three days on the occasion of the parliamentary elections in Iran.
wushock92:  Peace be with you, Mac.
jannilew:  thanks mac
arizona49:  mac Thank you.. Have a good day
Michigander:  have a great day mac