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Sunday, September 2, 2012

Delete the zeros and the fate of the currency.. In the hands of the experts at the table, 3 sept


Delete the zeros and the fate of the currency.. In the hands of the experts at the table

BAGHDAD – Yasser incumbent – Haider al-Rubaie Flaih – Hussein Tgb Tamimi
opened the round table organized by the Center for Strategic Studies in the morning newspaper in collaboration with the Economic Section Multi file deletion of zeros, which is the richest insights and analyzes the value and put points on the letters in decoding choking on a lack of understanding subject .
and reach a group of experts who participated in this table to the fact that such an important decision and dangerous at the core of the economic problem needs to law and legislation to ensure not falling mistakes incurred country moral and material losses large in Iraq indispensable.
For the first time in the most if not all seminars previous economic converge policies have monetary and fiscal table (morning) this sporting spirit of understanding in order to solve the problem and thus contributing to the distance from the potential risks that may accompany the process of change or raise zeros.
was submitted magnificent deputy central bank governor the appearance of Dr. Mohammed Saleh historical overview of money and commitments as a prelude to clarify participants had enriched everyone of the importance of lifting of the zeroes and convincingly and striking contrast representative of the Ministry of Finance d.
Hilal Taan vision on the action and despite the emergence of intersection in the two views in the apparent but in sub converge policies have cash financial and in one pot, but a careful to keep the national economy from additional shocks. Taan focused on the obstruction, the only way to delete the zeros is the psychological aspect of a group of Iraqi businessmen who have devoted culture of the state and rely on the dollar, while noting the experiences of other countries reservations تجارهم to rely on is their currency and a way to force their economic activity.
This analysis led to the development of ideas converged on the timing of the deletion of zeros and receded in the availability of envelopes firstly cover legislative saves currency from acting qualitative and secondly create a culture of attention in the national currency and this is governed by a matter of time blaming devices media responsibility to adopt this role.
Many of the participants all agreed on the need to provide a suitable environment for such a move is important, acknowledging its importance due to the fact that the currency represents infrastructure sober for the country’s economy, and on the grounds that the country’s economic strength stems from the power of her money. need to reform the system of payments deputy central bank governor the appearance of Dr. Mohammed Saleh pointed out that under the price stability and optimism in Iraq Development, it became necessary radical reform on the system management of currency as well as the re-structure commensurate with the price structure new and different, stable and levels of wages and salaries, which differed significantly from the last thirty years, as well as handle the mass of large cash weak components so that it has become the largest category currency Atsawi only $ 21 U.S. at the present time. noting that the increase in gross domestic product of Iraq from $ 140 billion at year-end 2010 to more than $ 300 billion at the end of 2015, will raise the money supply exporting of 30 trillion dinars to about 70 trillion dinars. And weak structure in the currency structure as mentioned above may take adds cost called the cost of cash transactions in terms of trading, whether between individuals themselves, individuals and banks within the banking system itself. 
Saleh said that in Sweden, for example, having now one of the best systems of cash payments in the world and despite that, the cost of trading cash counting, transmission and storage of the coin costing the national economy accounted for 4 percent of the gross domestic product of Sweden. Wondering how to compare that in a country like Iraq shall be managed so huge amounts of cash weak structure, adds the cost of cash transactions may reach 8 percent or more of GDP, a burden borne by the individual in his dealings which took reduces the efficiency of cash as an institution social support to institutions economy different, including the market as evidenced by the decline in cash transactions because of falling efficiency and installation of the money supply current. 
and pointed out that the multiplicity of zeros raises the denominations with declining purchasing power has enormous difficulties, including the difficulty of expression for the cash value as well as the same difficulties of monetary operations and technical problems in the recording of statistical data in the accounting books and changing accounting systems and settlement systems, as well as prices figures show long difficult counters or digital devices read Asfarha in gas stations or other digital devices. and continued on this basis has become a need to reform the system of cash payments through several advantages, the first on the horizontal plane and is deleting three zeros any transfer 30 trillion dinars to 30 billion Dolaran by deleting three zeros from the current currency and replace it with a new currency making it easier to handle arithmetic with numbers are less numerous in terms of accounts the federal budget, the budgets of banks and companies as well as balancing family cash (individuals) without incurring any change or switch on the wealth of cash for natural persons and moral as well as non-depressing contracts and obligations between natural persons and all concerned. , which called generating function sports political debate or political debate of the world (1752) Effect of nominal price levels with a high amount of money, such as the transition from Roman numerals to Arabic numbers (the numbers in English now), that the transition to ايغير of the basic principles of science and math. 

High amounts of money leads to higher prices for the same without the impact’s real economy results. The level vertical any restructuring of the currency and fitted it to the category large amount of 25,000 dinars are alone (two thirds of the amount of securities traded), the issuance of larger groups mean reductase four billion banknotes in circulation now and converted to a number equal to (1.180) billion paper cash. As Stakhtzel large groups of currency nearly 80 percent -90 percent of the total new categories exported to trading (such as 50, 100, 200 new dinars). Said based on the foregoing, the cost of cash transactions between individuals and banks and between individuals themselves or natural moral fall inevitably in terms of the costs of counting and checking.
 If Maalmana, that banknotes traded eroded the average over a period of five years, which means replacing enormous mass weak structure and consequent costs typographical specifications high security is another burden borne by the issuing authority cash is a relic Management System cash generated economic downturn former became not fit, stability and economic progress desired. said that money is anything agreed upon the community to become a medium of exchange and a store of value and unit account, the money (legal) issued by the monetary authority under the law and with the power of discharge of accounts receivable, seen as a social institution, where increasing the efficiency of the economy and its operations in moving efficiently exchange those social institution money, and vice versa. explaining that continuous inflation led to rising currency of 23 billion dinars in 1991 to about (30) trillion dinars over time. 
In this drawing new inflation figures for the currency traded add three zeros which increased the nominal amount of cash operations and consequent costs of producing large amounts of Maraafqatha, storage, and distribution operations, sorting and checking accompany her and doubling levels, the growing operational risks associated. And concluded by saying that the reasons for changing the currency current reflects the fruit of economic stability and the success of policies CBI in maintaining stability and of the stability of the dinar and falling inflation to the rank of one decimal and build foreign reserves support of the Iraqi dinar levels never achieved during the thirty years, which is the cover of the Iraqi currency.
 In addition to improving the system of cash payments and make it leave actual adhesion combination for the past economic اختلالاته and rebuilt on the future of economic development and real and nominal givens. Action needs to review minutes either an economic expert Dr Akram Abdel Aziz began her several questions came in the forefront of any mechanisms that depend upon the implementation of this approach and implement the replacement process and ensures that there is no manipulation during the switching process in the sense of protecting this step of fraud ? And added that the economic situation need to follow all his joints which are needed to promote it, as the money spent on switching process must achieve the goal. Continued its questions you were to stop at concerns and that this process may increase smuggling money abroad, especially that the process of deletion of zeros procedural difficult and complex and require statistics and accurate figures and must stand at the effects on the stock market. 
They pointed out that this issue if has not been studied extensively and the quality of community, the process of subtraction will of the Iraqi market to imbalance and jerks just because the citizen can imagine that the deletion of zeros will affect the real value of the currency, stressing that the strategy proposed must correlate between the money market and the labor market, as she wondered whether that outlook be comprehensive nature of inflation in terms of it’s not the high cost of production and a series elevations price of interest joints much-needed citizen. said that direct this trend needs to be a thorough review of the reality of the Iraqi economy and its institutions of public and private and the extent and effectiveness trends credit support for the work of the private sector . 
It showed that the basis of the success of any reform process and administrative needs radical treatment and serious fiscal imbalances, monetary and administrative constitute an obstacle to development cash development in Iraq. deficit financing most prominent reasons for the low value of the currency and despite the fact that the process of deletion of zeros from the currency traces can be negative on counterfeiting operations that will accompany it, but the economic expert, Dr. Hilal Taan said during his speech at the symposium opposite when he pointed to the possibility of several gains from behind changing the currency, is to provide a strong cash flow and global Iraq, which is needed to large groups of cash in value and small in size perform functions of money, as well as the deletion of zeros will play a positive role in business dealings, according to Taan who said that other positive which will be produced by changing the currency is escorted to the stage of economic growth and prosperity growing for Iraq, therefore, change the currency is essential 
This is in line with this optimism in the national economy. reviewed Taan some detail the chronology of the Iraqi dinar and witnessed volatility of price, explaining that in 1980 amounted to release cash in Iraq four billion dinars, and was then the highest denomination is 25 dinars, equivalent to then $ 75, and reached the bloc in 1992 about 25 billion dinars, and increased in 2003 to reach six trillion dinars, and rose this block to reach now 35 trillion dinars. Despite increasing the money supply in this way large compared with the year 1980, which was equal to the highest category of cash which is 25 dinars about $ 75, the Taan For comparison pointed out that the highest category of cash now stands at 25 thousand dinars is it not worth only $ 22. explaining that this shows the size of the collapse happening in the Iraqi currency The wrought by a series of factors do not stand Pferdha deficit financing process in the forefront of those factors but also contributed to other causes in a collapse of the structural changes that have occurred on the size of the budget after 2003, which led to the increase of cash, and this increase resulted in the higher costs Additional transactions, so in the case of deletion of zeros, these costs will decrease inevitably. 
Taan hinted that Iraq since the eighties resorted to the use of deficit financing policy, and that policy in developed countries achieved positive effects unlike in developing countries, where the States have developed a device productive flexible able to face demand and therefore increase investment, savings and get the economy moving, either in developing countries When Released new cash gets to meet a large amount of money goods are few and services is low, and a productive is flexible and a rise in prices and the flight of capital, stressing that all these negative factors took place in Iraq, and increased rates of inflation, and these negatives according Taan can not be solved without deleting three zeros from the currency.
 Turning Taan to the importance of the availability of a number of things he said was necessary to initiate the process of deletion of zeros, pointing out that there are factors to concrete and other significant impact material, and also said: that to change the currency prerequisites should be available before this, the first of the reserve strategic direct, any balance of gold and foreign currency, and I see that the dinar Iraqi covered with good foreign currency is according to the Central Bank of 67 billion dollars. 
believes Taan he Furthermore, the second factor that must be made ​​available to initiate the process of deletion is in the size of the reserve strategic indirect, and intended to natural resources, and this is positive now, especially since Iraq has become the second country after Saudi Arabia in the volume of production and exports of oil to OPEC members, explaining that the third thing is the factor psychological, any behaviors and activities to some wholesalers, who became not like to deal in Iraqi dinars, and preferred the dollar, despite the fact that The currency is a commodity, the greater the demand for that commodity value rises, and vice versa. has provided a number of experts and researchers interventions task enriched table ideas and solutions, including the Executive Director of the Association of private banks in Iraq Abdul Aziz Hassoun, and banking expert Abdul Hussein Mundhiri, and economic researcher Thamir Alheimus and economic analyst, Dr. Hussein Allawi, and a number of other businessmen, including investor Hadi Hndas, and investor Ibrahim Jaber Hussein, and Ibrahim Mohamed Ali investor.http://www.alsabaah.com/ArticleShow.aspx?ID=34237

Iraqi Finance exclude the deletion of zeros from the currency in 2013 , 2 SEPT

Iraqi Finance exclude the deletion of zeros from the currency in 2013 

Arbil September 2 (Rn) - ruled out an official source in the Iraqi Ministry of Finance, on Sunday, the deletion of zeros from the Iraqi currency during 2013, because it did not take any measures in this regard.

  The agent said the Iraqi Finance Ministry, Fadel prophet, told the Kurdish news agency (Rn) that "the Central Bank and the citizens are talking about switching the national currency current and the deletion of zeros from them, but the currency will not be replaced and so far not taken any action regarding the tradeoffs."

The Prophet added that "the deletion of zeros within the powers of the central bank," pointing out that "the Ministry of Finance does not support switching the currency and delete the zeros, but that the central bank seeks to that."

 He and agent and the Iraqi Ministry of Finance, saying "it is not possible to delete the zeros from the Iraqi currency over the next year, because the budget 2013 calculated the current Iraqi currency, so you can not switch the currency in this year."

The central bank says it finished a road map to get rid of three zeros from the currency to reduce the money supply and ease of financial transactions in line with the new situation of the Iraqi economy.

 But the government and the Securities Ibdita Khchithma that adversely affect the operation of the financial trading in the Iraqi market for securities.

 The parliamentary Finance Committee has confirmed (Rn) last July that the process of replacing the currency and delete the zeros of which will be gradually beginning of next year, noting that the process takes two to three years, noting that the budget next year 2013 will be the new currency after deleting three zeros of the existing currency. Considered the reluctance of traders and companies from trading in the Iraqi currency behind the adoption of the Central Bank project to delete the zeros.

The main tasks of the central bank in the conduct of monetary policy in the country and raise the level of the value of the Iraqi dinar and tackle inflation in the country.

 The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Irbil and Mosul.

http://translate.google.com/translate?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&u=http://www.aknews.com/ar/

MICHIGANDER CHAT, 2 SEPT

[michigander0131] Heats up debate on the process of deletion of zeros from the currency 02/09/2012 2:02 am During a seminar held by the (morning) that Iraq suffers from enormous power of the monetary mass estimated at 35.3 trillion JD inflation rates caused an increase to dangerous levels, which called for the initiation of change currency and deleting three zeros in order to shrink as it believes in the use of small cash categories. Pointing out that the deletion will be produced by issuing classes cash small up to 25 fils in order to fill a need transactions small future. as explained during his answers to the financial value of the dinar after the change will maintain its position fully, denying that you get some imbalances in the process transactional to banks and banks with customers who deposited their money before the deletion of zeros. saying at the same time: what will result from the deletion of zeros, from the comfort of the use of the currency, Will will that rest, economically successful. it will contribute to the positive impact on monetary indicators as well as the guarantee that can Saves the process from corruption.http://translate.google. ··· %3D34139 
http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Fwww.alsabaah.com%2FArticleShow.aspx%3FID%3D34139
[michigander0131] very good article seleh arguing his point to the finance and economic commisions that the plan is good and will revive Iraqs economy/if they will approve it to get done.
[michigander0131] now if they can just find away around malliki they can get it rollin
[sandinar] michigander0131 makes you wondere how many times they are going to argue that

[michigander0131] sandinar well they will keep on doing it till they give the ok/ there is nothing else they can do


[sandinar] michigander0131 shame
[michigander0131] yes it is all its doing is hurting the economy and also keeping the people down/they cannot get ahead just stay the same


[sandinar] michigander0131 you would think the US would do something about him , they put him in there
[michigander0131] they cant anymore we steped out we have just say no power
[michigander0131] we can thank O for that
[michigander0131] I like the fact in that article that they talk about having coins and that when they finally rv that it will be accepted with open arms from the people


[michigander0131] sandinar me either/but if we wouldnt of pulled out we would of been able to reign him in /now he has total power
[sandinar] michigander0131 ready for the real hope and change in November 
[michigander0131] yes
[michigander0131] well sooner or later they will come after him like they did in egypt
[sandinar] michigander0131 what happened to him in Egypt
[michigander0131] right now the people are waiting to see if he will actually sit down and agree to power sharing


[michigander0131] they overthrew the gov
[sandinar] michigander0131 how darn long are they going to give that infidel
[michigander0131] IMO malliki will neaver agree to power sharing/this has all been a ddelay orchstrated by his boss //iran

[michigander0131] they will have to force him out
[michigander0131] but time will tell
[michigander0131] we should know something by the ebd of next week about the national conference
[sandinar] then the Us needs to get behind the ones whomare trying to oust him
[michigander0131] well if they had power they would of straightened him out long time ago//JMO
[sandinar] michigander0131 it is beyond me how thry can allow 1 man to hold off the economies of the world if that is the case
[sandinar] I would be in hiding if I were him
[michigander0131] sandinar well i dont believe that is the case /but thats my opinion
[michigander0131] Im hoping that the meeting in london on the 18-19 will show us how far along Iraq is with their banking and financial side


[michigander0131] maybe they will even give us a peek of some of the coins again
[michigander0131] and new denoms
[sandinar] michigander0131 i sure hope we don't have to wait that long 
[michigander0131] well everyone have good night and labor day /talk to you all on tuesday

OKIEOILMAN POST, 2 SEPT

[..OKIEOILMAN] GOOD SUNDAY AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIEND'S. WELL----ACCORDING TO REPORT'S FROM VERY CREDIBLE SOURCES THIS SHOULD BE A WEEK OF MONUMENTAL WORLD WIDE CONSEQUENCES REGARDING MANY DIFFERENT CURRIENCIES. THERE HAVE BEEN A VAST AMOUNT OF ACCOMPOLISHMENTS TOWARD THIS BEING THE CASE. I HAVE NEVER BEEN AS OPTIMISTIC IN 9 YEARS IN THE DINAR SAGA AS I AM TODAY. 

THE RATE BEING GIVEN IS A REASONABLE RATE--NOT TOO HIGH--NOT TOO LOW. THE RATE GIVEN WILL BE COMPETITIVE WITH IRAQ'S SURROUNDING COUNTRIES SO AS TO NOT CAUSE AN ECONOMIC SHOCK TO THE COUNTRIES THAT DOES TRADE WITH IRAQ. IT APPEARS THAT THE ENTIRE WORLD CURRIENCIES MAY BE SIMPLY RE/VALUED WITHOUT ALL THE STIPULATIONS THAT WE HAVE UNDERSTOOD THAT MAY BE NECESSARY FOR US AS INDIVIDUAL INVESTOR'S TO HAVE TO FOLLOW. PRAYERFULLY LET'S KEEP THE CONFIDENCE OF THIS HAPPENING QUICKLY.

[..OKIEOILMAN]
TOMMOROW MAY JUST BE YOUR LAST "DAY OF LABOR"--THE REST OF YOUR WEEK MAY BE FILLED WITH PERSONAL FINANCIAL ISSUE'S THAT WILL OCCUR ONLY ONCE IN YOUR LIFETIME.

 [..OKIEOILMAN]
THERE ARE STILL A MULTITUDE OF IN-CORRECT RUMOR'S FLYING ABOUT---DON'T PAY ANY ATTENTION TO WHAT YOU HEAR--YOU WILL BE INFORMED VIA THIS SITE FIRST OF CORRECT INTEL AND HOW IT IS TO RELATE TO EACH OF YOU PERSONALLY


[..OKIEOILMAN] PLEASE BE AWARE THE OCCUPANT OF 1600 PENNSYLVANIA AVE IN WASHINGTON D.C. HAS NO CONTROL OVER THIS OCCURING OR THE POWER TO STOP IT HENCEFORTH. THE AGREEMENT'S AND ARRANGEMENTS HAS BEEN CONSUMATED WITHOUT ANY OF HIS HELP WHATSOEVER AND WATCH AND SEE WHO TRIES TO GET THE CREDIT FOR THIS MIRACLE---

[..OKIEOILMAN]
I WILL NOT GET INTO OR PERMIT A POLITICAL ARGUMENT OR DISCUSSION ON THIS MATTER----WE ALL KNOW THE TRUTH WITHOUT POSTING IT

[..OKIEOILMAN]
MY PERSONAL PLAN'S FOR THIS WEEK HAS ALREADY BEEN LAID OUT------HAS YOUR'S????????

[..OKIEOILMAN]
IT IS ALSO MY UNDERSTANDING THAT THE ENTIREITY OF THE DIFFERENT HUMANITARIAN AND PHILANTHROPIC (SP) PROGRAM'S ARE ALL TO GO WITHIN SHORT ORDER OF THE C/E.

[..OKIEOILMAN]
THIS TIME WHEN OUR SHIP COME'S IN--DON'T BE AT THE AIRPORT---HEH HEH

[..OKIEOILMAN]
I HEARD SOME LADIES TALKING THE OTHER DAY ABOUT TAKING A TRIP TO HAWAII AFTER THE C/E--TAKE MY ADVISE AND TAKE A BOAT--WHY?--BECAUSE THERE ARE MORE AIRPLANES IN THE BOTTOM OF THE SEA THAN BOAT'S IN THE SKY.

[IZZ] Okie, what do you mean 'go?' Do you mean it will not be possible to fund philanthropics? 501(c)3s? Are these tax issues?

 [..OKIEOILMAN
] IZZ--ALL PROGRAM'S ARE TO BE FUNDED VERY CLOSELY TO THE SAME TIME

[..OKIEOILMAN]
BBL--PLAY NICE KIDDIES

DINAR GURUS UPDATE, 2 SEPT

9-2-2012  Intel Guru BWM   we are losing time on my "schedule" that I was told to look for...so no need to panic yet...I mean after all there are lottery winners. I don't care who calls the numbers.. I'm just glad I'm holding a ticket.

9-2-2012  Intel Guru TerryK     HIGH ANTICIPATION THAT THE COINS ARE GOING TO HAVE VALUE WHEN THE BANK OPENS IN IRAQ, WHAT KIND OF VALUE THEY DID NOT SAY.  I HOPE THIS COIN THING IS RIGHT,  IM EXCITED.   THE COINS ARE TO BE RELEASED WHEN THE BANK OPENS, WHICH IS 3 AM OUR TIME EAST COAST BUT TREAT IT AS RUMOR.  IF THIS DOES GO DOWN...THEN WE HAVE TO WAIT TILL TUESDAY.  ALOT CAN HAPPEN BETWEEN SUNDAY AND TUESDAY.

9-2-2012  Intel Guru BOBGETZ6   The information highway, has been very quiet the last few days.  For those of you who have read sooooo much today, please just ignore much of what you have heard.  I grow weary of some of the crazy information that is out there.  When this is done...you will make appointments and have some nice deposits. 

9-2-2012  Newshound/Intel Guru BGG   Allawi is obviously frustrated – and there is always a slim chance this will deteriorate to the point Maliki gets ousted. There is the support for it. Talibani’s first line of defense is to fully allow the reforms process to mature, if this fails he will likely support the removal of Maliki.  Maliki being over in Iran shows me he is in a world of hurt for some support.The US showing up Monday shows me they aren’t happy about him courting the “radicals”.

9-2-2012  Intel Guru Bluwolf    NOTHING IS BAD JUST COMPLICATED.  ALL IS FINE THERE ARE NO GLITCHES.  [I know you can not tell the rate...but are we still expecting high or low?]   VERY HIGH!!  ABOUT THE ONLY THING THAT I CAN SAY IS THAT WE ARE CLOSE.

9-2-2012  Newshound/Intel Guru BGG   it is entirely possible Talibani goes back to Iraq as early as this weekend. It appears he has had some trouble while he was over there – but he has some “hammer” in this process. Even his enemies are “lining up” to play ball. With the obvious exception of Maliki – of course. As I understand it – Maliki was over in Iran looking for support. This whole process will happen whether he wants it to or not and his visit over there was really a last ditch effort to make a friend – because right now, he doesn’t have one. Not one.

9-2-2012  Intel/Newshound Guru  Poppy3  From a solid source, there was a run on dinar in Isreal to where they ran out of dinar.  We understand that the same thing is happening inside Iraq, but can't confirm this.

9-2-2012  Newshound Guru SWFloridaGuy  I liked the article...about Talabani possibly being in northern Iraq meeting with Barzani a few days ago. Right now that's something I'm holding onto hoping is true. That's such great news if true and we know that's the next step.

BUTIFLDRM, MOUNTAIMAN & BOBGETZ

9-2-2012 Butifldrm: "Zeros cannot be removed from Iraqi dinars during 2013, says Iraqi Finance Ministry." Now, that's interesting. I still think they could increase the rate to 1:1 and keep the same budget. Just take it from Trillions to Billions. From what I understand, the large denoms are almost impossible to get over there. The country is flush with USD. The budget would have to be calculated in both USD and IQD, because it appears that Iraq is primarily using the hard currency of the dollar. He's right, "They better do it soon." 

9-2-2012 Mountainman: It's hard for me to believe Iraq postponed the tariffs for the reason they are giving.  I'm sure they knew what equipment they had and what they didn't have.  The goal for implementing tariffs at the beginning of next year tells me they are planning on having a higher exchange rate before then. First the CBI will proceed with their currency reform project then they will be able to impement the tariffs where it won't have any negative effects on the country.  I think the time for a RV will be perfect right after we have this National Meeting everyone has been talking about.  It would make sense to have it before the Financial Summit in London in a couple weeks. It's possible we're closer to seeing real progress than we think. 

9-2-2012 BOBGETZ6: Treat ALL that you hear or read at this time as rumor. I have good sources, which I trust, and much of what you hear is speculation and conjecture. They, we, I believe we are at the precipice so to speak. Waiting on whomever the PTB are.




MILLIONDAY CHAT, 2 SEPT


[millionday] announced the central bank to send a number of proposals banking to the cabinet allow dealing silver and gold. said the deputy governor of the Bank the appearance of Mohammed Saleh (Center Brief for IMN) that "the central bank suggested that the government promote deal sinks بالسبائك, gold and silver. and added that "these recommendations come to the desire of the central bank to strengthen Iirorh financial and maintain the monetary policy of the country." and summed tasks CBI to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management reserves of foreign currency, The issuance of currency management, as well as to regulate the banking sector.

[millionday] The central bank of the Iraqi entered for 53 banks as members of the project divided the national that will enable the person cardholder credit Cloud Financial from any bank in the whole country without the need to rely on the branches of the bank, which was filed. Said Deputy Governor Bank the appearance of Mohammed's (Center Brief for IMN) "was introduced 53 banks as members of the project divided the national private credit card, which will be under the control of the central bank." and added that "the central bank the process of selecting a company sober to submit bids for the project divided the national credit card."

[millionday] help USAID Iraq in the accomplishment of a divided National will establish a partnership between Iraqi banks. Iraq has more than 50 banks with about 800 branches in Baghdad and the provinces, and central bank says that the per capita share of the Iraqi banking services less four times as in the neighboring countries

[brubba] I'll take one
[millionday] electronic bbanking
[millionday] love it
[millionday] Said a member of a coalition of state law MP / National Alliance / Hana Turkish, that the initiative of the Kurdistan Regional Government to dialogue with the Federal Government on the possibility of approving the law of oil and gas will be resolved outstanding differences in this regard and will help to speed up the passage of the law of oil and gas. The Turkish (of the Agency news) The oil and gas law is one of the important laws currently being regulated process of extracting and Petroleum Investment and guarantees the rights of the people of its oil, so can not work on the development of oil fields and increase production significantly without oil and gas law

[millionday] She added that the initiative announced by the Kurdistan Regional Government to negotiate with the federal government regarding the paragraphs of the law of oil and gas, which witnessed sharp differences over by the local governments in Kurdistan and the Federal Baghdad will solve the political crisis between the parliamentary blocs with regard to natural resources such as oil. Turki called for the need to develop radical solutions to bilateral disputes between the Governments of Arbil and Baghdad on oil because it because Atsb the interests of the people and harm the national economy, because oil is the main supplier of the Iraqi economy Vttaiwirh and interest means to support the economy and promotion

[millionday] The news signaled readiness of the Kurdistan Regional Government to negotiate and dialogue with the federal government on the differences on the paragraphs of the law of oil and gas to get to a radical solution to provide a draft law to the parliament for a vote


[millionday] House resumes its contract next Monday to vote on the 7 laws. The agenda of the meeting to vote on a bill the Federal Supreme Court and the proposed third amendment to the electoral law of provincial and district and provincial and bill villages modern agricultural and bill the Supreme Judicial Council also includes voting on members of the Independent Electoral Commission and a bill to cancel the decisions dissolved Revolutionary Command Council in the educational field. It also includes the first reading of the draft law on Iraq's accession to the Convention on the Physical Protection of Nuclear Material and the draft law on ratification of Iraq to the UN Convention on the complete prohibition of nuclear tests

[millionday] First Deputy Chairman of the House of Representatives Qusay al-Suhail need to form a National Water Council in Iraq to put the correct strategy for water management in Iraq and to find effective solutions to the problems faced by the country in this area. A statement from the Information Office of the First Deputy Chairman of the Council that Suhail chaired yesterday a meeting of the Committee on Agriculture, water and marshes, where they discussed the draft law on the formation of the National Water Council and Committee has delayed laws. The statement added that "al-Suhail stressed the need to benefit from the experiences of the riparian States, which has problems with neighboring countries", adding that the UN Development Programme (UNDP) has an interest in the completion of Iraq to this Council.

[millionday] First Deputy Chairman of the House of Representatives Qusay al-Suhail need to form a National Water Council in Iraq to put the correct strategy for water management in Iraq and to find effective solutions to the problems faced by the country in this area. A statement from the Information Office of the First Deputy Chairman of the Council that Suhail chaired yesterday a meeting of the Committee on Agriculture, water and marshes, where they discussed the draft law on the formation of the National Water Council and Committee has delayed laws. The statement added that "al-Suhail stressed the need to benefit from the experiences of the riparian States, which has problems with neighboring countries", adding that the UN Development Programme (UNDP) has an interest in the completion of Iraq to this Council.

[millionday] It is worth mentioning that Iraq had signed a number of agreements and protocols with Turkey starting from the year 1946, but that none of them did not explicitly guarantee a fixed share of water to Iraq from the Tigris and Euphrates rivers. It seems that the Turkish side is still so far refused to find a formula agreement in this regard, he says, director of the National Center for Water Resources Management Aoun Thiab Abdullah said the Turkish government still avoids discuss this set. Also stressed the Committee on Agriculture and Water in the House of Representatives on the importance of engaging the Turkish side locks appropriate share of water and stable Iraq through pressure by using economic interests

[millionday] stable Iraq through pressure by using economic interests
[millionday] like that part --
[sisterbreen] millionday
[millionday] the oil and gas law or hcl -- will be obviously complete quick
[millionday] brb with more
[millionday] Hoped to see the next few days, the return of President Jalal Talabani returned home after treatment and convalescence trip in Germany. With the return of the President of the Republic increased hopes near the National Congress in preparation for the settlement of outstanding issues between the political blocs. A political source for "Brief Center for the Iraqi Media Network," that next week will probably meet important for the three presidencies followed weeks later by the National Conference expanded. Iraqi political scene, a lot of bilateral meetings between leaders blocs did not come out of any of them a final agreement between the parties on a mechanism to resolve the problems, after deducting the National Alliance and the reform paper that impressed most of the political forces.

[millionday] He announced last week before an agreement in principle to hold a meeting between the leaders of political blocs or described as "first line leaders" after the return of President Jalal Talabani after the holiday of Eid al-Fitr, according to parliamentary sources revealed " Brief Center for the Iraqi Media Network. "The MP for the Kurdistan Alliance Said Messenger has announced that the President of the Republic may return during the first ten days of this month to invite the political blocs to meet national and resolving the outstanding problems, he said, adding that Talabani and as the protector of the Constitution of his powers of being able to resolve the outstanding problems

[millionday] i believe by the meeting we saw in kurdistan that talabani is already back but we will see
[millionday] they say this meeting will be in a few days
[millionday] brb with more

[millionday] Heads Iraq Ministerial Committee meeting to follow up on the implementation of the Summit decisions Baghdad headed by Foreign Minister Hoshyar Zebari. Includes meeting Troika Arab Summit (Iraq, Qatar, Libya), and Troika University Council (Kuwait, Qatar, Lebanon), in addition to the Secretary General of the Arab League Nabil Elaraby, to follow up implementation of the decisions Summit Baghdad and before the session 138 of the Council of the League of Arab States at the level of Arab foreign ministers on Wednesday and Thursday next.
[millionday] The director of the Arab League Council Advisor Mohammad Zaidi told reporters: "The Secretariat has prepared a preliminary report for the past six months follow-up on the implementation of the resolutions of the Baghdad summit, to inform the Council of the Arab Ministerial how each country's commitment to the implementation of the resolutions of the Arab summit.

[millionday] iraq is chair for the middle eastern summits ---

[millionday] Accomplished management of a network of social protection in Kirkuk measures in addition more than 3 thousands of beneficiaries to the grid system in preparation for the disbursement of subsidies to them within the next installment, confirmed the existence of 1,500 other transaction coverage is still under scrutiny. The director of the department Karim Mohammed Amin's (Center Brief for the Iraqi Media Network) said his department completed add 3100 of disabled and handicapped to a system of social protection network and give them the smart card will be distributed subsidies monthly to them within the next installment, confirming the presence of 1500 transaction under scrutiny for the purpose of well owners to system Network protection after completion of all the archives of Palmsthakan actually subsidies
[millionday] this is about social security
[millionday] They are disabled and handicapped, recalling that his department obtained the approval of the Minister of Labour and Social Affairs to add 5 thousand receivable during the current year. revealing stop 3600 treatment precaution because of a lack of filing their owners, also halted network management salaries 2076 of listed within the grid system once during the first half of this year because they are not eligible for benefits after checking their files and survey them it is found that some of them got jobs in government departments and others receive salaries from the other parties or proven that the percentage of disability is fulfilled or because of traveling outside the country.
[millionday] so we like this because it is the movement of money --- love that
[millionday] brb with more

[millionday] Finance Committee announced the launch of a new law to retire this month as a prelude to read it before passing this year. Said a source within the Commission's "Brief Center for the Iraqi Media Network," said the pending retirement Authority Committee to take over the new law to be discussed in the days coming before submitting it to the Presidency of the Council of Representatives in preparation for reading and approval to be implemented from the beginning of the year 2013. He was a member of the Committee secretary Hadi said in a statement the "Brief Center for the Iraqi Media Network": that "the public pension law does not face any problems and there are no obstacles in front of him," noting that "this law includes a lot of cases, including
[millionday] those who work in the private sector and the unemployed while providing employment opportunities for them, "adding at the same time that any law passed has applied financial consequences, in the year that followed, especially as the exchange of receivables in the event of financial law has been applied either through financial or exaggerated exuberance or emergency borrowing from the banks, in addition to the proceeds of the pension fund and as directed by the Minister of Finance requirements of payment of dues to the decisions of which have a mandatory version of Exchange, Although he stressed that the general trend is to apply the law with the beginning of next year.
[millionday] The Director of Human Resources at the General Directorate of retirement Mehdi Sharif in November of the year 2011, that the Council of Ministers and in coordination with the Ministry of Finance has formed a committee on a high level of legal experts and specialists from the public pension and the Ministry of Finance and the Department of Retirement and Social Security to set up a new unified law for pensions, involving both the public and private sectors. As a member of the Finance Committee Magda Abdel-Latif has confirmed for "Brief Center for the Iraqi Media Network," that the amount of retirement will be rewarding retirement after passing a law.
[millionday] wow -- this is great
[Dianne777] .
[millionday] the international compliance implies that they are setting up citizen services
[millionday] workmans comp-- retirement -- social security -- this is great

[millionday] this is one thaT we read every word of
[millionday] cornsnake64 very true hun
[millionday] Discuss Economists process of deletion of zeros from the Iraqi currency, and the order of the positives that can be reflected on the overall economic activity in Iraq or cons able to affect the business operation and financial in general, and as Deputy Governor of the Central Bank that the disintegration of the monetary system in the country is vulnerable and clear to the overall political process, board Other specialists participated in the seminar that the process requires timelines testify during the economic reality of Iraq more stability, which otherwise is witnessing now, according to specialists.

[millionday] The deputy governor of the Central Bank of the appearance of Dr. Mohammed Saleh during a seminar organized by the morning yesterday on the process of deletion of zeros from the currency and with it, it's pros or cons related to the overall economic process: that Iraq suffers from enormous power of the monetary mass estimated at 35.3 trillion JD inflation rates caused an increase to dangerous levels, which called for the initiation of change currency and deleting three zeros in order to shrink as it believes in the use of small cash categories.

[millionday] Pointing out that the deletion will be produced by issuing classes cash small up to 25 fils in order to fill a need transactions small future, stressing that the Iraqi dinar currently covered well and cash value estimated at more than $ 60 billion, a cap could keep the value of the dinar from All economic variables that could face the country. Saleh was who delivered Mahazerh first at the symposium had answered a number of questions that guide the participants in the same order, as explained during his answers to the financial value of the dinar after the change will maintain its position fully

[millionday] denying that you get some imbalances in the process transactional to banks and banks with customers who deposited their money before the deletion of zeros. Despite what was said in favor of the positives can be realized after the deletion, but the president of the Association of private banks Abdul Aziz Hassoun wondered about the feasibility of the change in value of financial standing after the deletion, saying at the same time: what will result from the deletion of zeros, from the comfort of the use of the currency, Will will that rest, economically successful.

[millionday] In turn expressed an economic expert Dr Akram Abdel Aziz during Mhazertha on the sidelines of the seminar for lack its own absolute in times of time to process the deletion of zeros from the currency, wondering about the impact of the operation in enhancing the value of the currency and whether it will contribute to the positive impact on monetary indicators as well as the guarantee that can Saves the process from corruption. Abdul Aziz believes that the adoption of a strategy for managing and structuring currency surround require all economic indicators, particularly the effectiveness of the real and service sectors of the economy and what is the percentage of its contribution to the gross domestic product.

[millionday] She drew Abdul Aziz that enhance the value of the currency can not be achieved implicitly, pointing out that the reasons for this comes because the value of the dinar and the strength derived from the diversification of income sources and increase built sectoral and making them able to produce goods and services, criticizing a growing reliance on the oil sector in supplying the budgets the country's financial and

[millionday] influenced the stability of cash income from foreign currency assets enhanced the value of the currency, as well as that this matter can keep on unilateral export content and increasing import content with a wide range of external borrowing. And participated in the seminar a number of experts and specialists in economic affairs appeared in many government and private agencies, and will be published an extensive report for the morning seminar in future issues

[millionday] so they had a huge semenar about the raising of the value and the bringing in of the three zero currency and it is not over yet
[cornsnake64]
[millionday] they are trying to figure out what the future impact will be on the gdp and the income ect
[millionday] brb with more --- love it

[millionday] the vlaue of the currency not being achieved implicitly --- that has to be the best of all time
[millionday] this will have to be done by changing the rate -- not by allowing the market to drive

[millionday] decided for the Committee on Economic Affairs in the Council of Ministers increase the amount of reserves for a number of service projects in the holy city of Karbala and Dhi Qar province and these projects (rehabilitation of water parks new water reticulation and create or paving the streets and rural roads and the development of electricity networks). To enable the provinces to provide services and building service projects of public interest. This came during the twenty-fifth meeting chaired by Deputy Prime Minister d. Rose Nuri Shaways economic committee chairman and the membership of ministers (finance, oil, trade, planning and agriculture) and Dr Abdul Basit Turki Saeed Chairman of Supreme Audit and Chairman of the National Investment Commission and Deputy Secretary General of the Council of Ministers for Financial and Administrative Affairs and Economic Advisor in the Office of the Prime Minister and adviser to the CBI.
[msbrat] back to work thanks a million million
[millionday] reserves being raised for services ---

[cornsnake64] msbrat be good brat 

CURRENCY & POLITICAL NEWS, 2 SEPT


-2-2012 Tariff Law: The Tariff law will be implemented early next year after bringing modern equipment to inspect goods and imported goods at border crossing points. Several technical reasons prevented the application of tariff law, notably the lack of trained personnel and sophisticated equipment. Iraq has imported sophisticated electronic devices to inspect the goods and imported goods and in the process of training cadres working on these devices will be activated the tariff law early next year. http://www.basraelc.com/news.php?action=view&id=11624

9-2-2012 Phoenix3333: Investment Meeting - "Iraq Infrastructure/Investment Meeting. Suhail chaired a meeting of the parliamentary committees with the Chairman of the Investment Authority to discuss infrastructure bill. The meeting was devoted to discussion of the law of the infrastructure and the obstacles that stand in front of legislation where the deputies submitted their questions and comments on the law. The bill is not a new phenomenon and investment companies demanding parliament as the country's parliamentary system sovereign guarantees for the implementation of projects. Committees of the economy, investment and financial services and reconstruction to provide a final report on the law after a meeting with the head of the investment for the law to vote in the upcoming meetings of the Council."http://www.alliraqnews.com/index.php?option=com_content&view=article&id=50391:2012-09-02-10-43-50&catid=41:2011-04-08-17-27-21&Itemid=86

9-2-2012 HCL & Amnesty: A Meeting between Maliki and Nujaifi will have clear results in the next phase. To meet with Maliki and Najafi saw the great convergence of views and handle mechanism between the legislative and executive authority in addition to the agreement on the need to pass important laws. The meeting will have a positive impact on the House of Representatives because there are a number of laws which will vote by the Board soon on HCL and General Amnesty. http://www.uragency.net/2012-03-11-16-31-52/2012-03-11-16-33-35/8724-2012-09-02-12-07-45.html

9-2-2012 Article 140: The Article 140 Committee elected parliamentary deputy Sadoun as its chairman. It's supervisory will start next week to oversee the work of the Ministerial Committee on the implementation of Article 140 of the Iraqi Constitution. http://www.alsumaria.tv/news/62350/%D9%84%D8%AC%D9%86%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D8%AF%D8%A9-140-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D9%86%D8%AA%D8%AE%D8%A8-%D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8-%D9%85%D8%AD%D8%B3%D9%86-%D8%A7%D9%84%D8%B3%D8%B9%D8%AF/ar

9-2-2012 Paper Reform: The paper reform has not yet been submitted to the political blocs are still ranging within the National Alliance has been postponed raised until the return of President Talabani. The failure of the paper to resolve outstanding differences between the political parties would force the political blocs to resort to alternatives to resolve differences and those alternatives questioning Prime Minister Maliki. Expressed hope the paper reforms would resolve outstanding differences between the blocks to move the political process forward. http://www.ikhnews.com/news.php?action=view&id=53996

BGG, POPPY, PHOENIX, CARRELLO & BLUWOLF POST, 2 SEPT


9-2-2012 BGG: "Media advisor of Maliki confirms visit of U.S delegation to Iraq on Monday." The timing of this visit is interesting – let’s see how it plays out. Also interesting is how is collides with Poppy’s info from last nite. Good stuff. 

9-2-2012 Phoenix3333: Investment Meeting - "Iraq Infrastructure/Investment Meeting. Suhail chaired a meeting of the parliamentary committees with the Chairman of the Investment Authority to discuss infrastructure bill. The meeting was devoted to discussion of the law of the infrastructure and the obstacles that stand in front of legislation where the deputies submitted their questions and comments on the law. The bill is not a new phenomenon and investment companies demanding parliament as the country's parliamentary system sovereign guarantees for the implementation of projects. Committees of the economy, investment and financial services and reconstruction to provide a final report on the law after a meeting with the head of the investment for the law to vote in the upcoming meetings of the Council."



9-2-2012 Carrello: I believe we are not far off from the finish line. Just hold on - there is nothing else you can do. Much of my frustration is being out of control of the situation, and not seeing competant or honest individuals in charge of a chaotic government, meanwhile holding back progress and success for many others over and above themselves. You need to find individuals on the Internet that have expertise (and I do not mean gurus) and evaluate the situation in Iraq without bias or motive. They are out there. If you listen to others with bumper sticker slogans, or individuals that do nothing but whine and say Go RV, you will be nothing other than discouraged. Beware of anybody that says "we are almost there, any day now, I feel good about it." They apparently don't know any more than any of us that read the news. Read TrinityExchange's breakdown of the SFA in Opinions and you get a realistic view of what we are looking at. Read the the facts and not the emotional. You will feel better, Cooked, at least I hope you do. It is not easy for many of us, and that is all relative, but the only way to get off of the emotional roller coaster we call Dinarland, is to stick with the facts, stay out of Rumors, and investigate others that provide down-to-earth information. 



9-2-2012 Poppy3: From a solid source, there was a run on dinar in Israel to where they ran out of dinar. We understand that the same thing is happening inside Iraq, but can't confirm this.

9-2-2012 BGG: it is entirely possible Talibani goes back to Iraq as early as this weekend. It appears he has had some trouble while he was over there – but he has some “hammer” in this process. Even his enemies are “lining up” to play ball. With the obvious exception of Maliki – of course. As I understand it – Maliki was over in Iran looking for support. This whole process will happen whether he wants it to or not and his visit over there was really a last ditch effort to make a friend – because right now, he doesn’t have one. Not one.

9-2-2012 Bluwolf: NOTHING IS BAD JUST COMPLICATED. ALL IS FINE THERE ARE NO GLITCHES. ABOUT THE ONLY THING THAT I CAN SAY IS THAT WE ARE CLOSE.


Iraq Deputy Finance Minister: Zeros can’t be removed from Iraqi dinars during 2013; No preparations have been made, 2 sept


Iraq Deputy Finance Minister: Zeros can’t be removed from Iraqi dinars during 2013; No preparations have been made

02/09/2012 17:36
ERBIL, September 2 (AKnews) – Iraq’s deputy minister of finance said the zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made.
The Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased and the money will be changed. But the money cannot be changed because prior work for the process has not been executed.
Nabi said: “Reducing the zeros is the Central Bank’s authority. As the Finance Ministry we are against the change and removal of the zeros, but the bank insists on removing the zeros.
“We cannot change the Iraqi money in 2013 because the Iraqi budget was estimated with current money.”
He also said: “If Central Bank has any intention to change the money then it must do the process soon before calculating 2014′s budget.”
http://bit.ly/RzGXZN