DINARESGURUS.BLOGSPOT.COM_________

Wednesday, October 7, 2015

BACKDOC UPDATE , 7 OCT

KTFA:

Backdoc: 
 YES, THE DETERIORATING CONDITIONS ECONOMICALLY REQUIRE A GREATER PURCHASING POWER OF THE DINAR AS WELL AS A DIVERSIFYING OF ITS ECONOMY!  (See article below)

NO WONDER THEY ARE GOING TO RAISE THE ZEROS DUE TO THE ECONOMIC CONDITIONS!

WE ALL KNOW HERE THAT SECURITY HAS RETURNED MAKING THIS POSSIBLE!

WITH LAWS AWAITING A VOTE TO ENACT, TIMING IS NOW COORDINATED WITH THE NEW GLOBAL REALITY!

MANY FOLKS KEEP TRYING TO FOLLOW THE WRONG RABBIT HOLE, THIS IS A GLOBAL EVENT!    WHY?

BECAUSE LIKE I SAID,"BECAUSE IT'S ALL ABOUT IRAQ ITS NOT ABOUT IRAQ" !

BE ENCOURAGED MY FRIENDS, THE GLOBAL REALITY SHOWS ALL THE SIGNS OF MATURITY, YOU WON'T BE WAITING LONG!    DOC    IMO
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Walkingstick:  Parliamentary Finance: deteriorating economic conditions disrupted the deletion of zeros from currency

Economy and Tenders Since 07.10.2015 at 13:15 (GMT Baghdad)

Special - scales News
Ruled out the parliamentary finance committee member Abdul Qader Mohammed, on Wednesday, the application of a draft resolution to delete the zeros of the Iraqi currency during the coming period due to the deteriorating economic conditions experienced by the country, noting that he can not determine the time of application of the project unless stabilized the security and economic situation in Iraq.

Said Mohammed's / scales News / "The project to delete the zeros of the Iraqi currency will help to use the currency are the biggest," noting that "the difficulty of the application of this project during these economic conditions experienced by Iraq."

He said the parliamentary finance committee member, said "money inflation in the Iraqi market with the economic downturn currently lead to the descent of the currency rate to hit the country's economy," adding, "it was postponing the process of deleting the zeros to settling the Iraqi currency put the Iraqi economy in a stable and good condition."

The "Committee for Economy and Investment parliamentary member Ahmed Salim Abdul Rahman said, earlier, that the deletion of zeros from the local currency is not appropriate at this time, especially in the big decline and deterioration in the economic conditions of the country."

It is worth mentioning that the "economic expert Abdul Hassan al-Shammari said, earlier, that the draft deletion of zeros from the local currency stopped by the House of Representatives in 2010 due to legislative differences within the parliament," noting that "print local currency Iraqi government cost $ 250 million annually ".anthy 29 quarters e 

Link

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Backdoc:  GREAT SUPPORTIVE ARTICLES TODAY DR. WALKINGSTICK BROTHER!

ALL THE NAY SAYERS JUST GOT SLAPPED! GREAT JOB SIR!!

Frank26:   OH MAN !!!   I only have one comment :

TA DA FREAKEN DA !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


KTFA   Frank......... Negative my Donkey !!!   lol


Walkingstick :  Print currency cost the government $ 250 million annually
October 6, 2015 11 0Our economy / Baghdad

Stressed the economic expert Abdul Hassan al-Shammari, said on Tuesday that the project to delete the zeros from the local currency stopped by the House of Representatives in 2010 due to legislative differences within the parliament, indicating that the printing of local currency cost the Iraqi government $ 250 million annually.

Al-Shammari said in a press followed the agency "our economy," the news release that "the project to delete the zeros of the local currency is very excellent and Iraq project is not the first state employs, but worked by several countries, most recently Turkey was when deleted six zeros from its currency and become a million pounds, pounds one", explaining that "the virtues of this project that will facilitate the calculations will become millions of dinars thousands, and millions become billions, and trillions become billions, authorized will become the calculation it is confusing and not great."

He noted economist that "Iraq annually spends $ 250 million on currency printing because of its reliance on paper currency and there is no where any coin and therefore the 250, 500 and 1,000 dinars are categories of paper currency lifespan of no more than three months because it is fast trading and therefore the state needs to Print very large quantities of such groups every three months and the process cost Iraq $ 250 million. "

And that "Iraq needs to delete the zeros, this project was stopped by the parliament, as it was scheduled to be approved in 2010, and rather than be printed these currencies are printed dinar instead of one thousand dinars and a half dinar and quarter dinars and dirhams, and in that time has been designed so that is this kind of currency but legislative delays in the House of Representatives led to the loss of Iraq into the hundreds of millions of dollars of hard currency. "

The "economic expert on behalf of Jamil Antoine, confirmed earlier that the deletion of zeros from the Iraqi dinar will reduce the US dollar traded in the local market."    

Link

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Backdoc: 
 NOW, NOW, BE PATIENT! EVERYTHING WILL HAPPEN SOON! THE NEW GLOBAL REALITY DEMANDS IT! WAIT YOUR TURN! HEE HEE

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Walkingstick:  Commission intends to propose the oil law on oil and gas legislation without waiting for the government

07/10/2015

BAGHDAD / JD / .. A member of the Commission on oil and energy parliamentary deputy Zaher al-Abadi, the determination of his committee's proposal oil and gas law and enacted in Parliament in the event of the failure of the government to send a bill to the House of Representatives.

He said al-Abadi told / JD /: "The oil and gas law is one of the important laws, which will eliminate a lot of outstanding problems regarding the oil especially between the federal and provincial Governments, "adding that" the government withdrew oil and gas law for the purpose of Parliament make amendments to it. " He added that "in the event of the failure of the government to send the amended version of the oil and gas law Vstljo the Commission on oil and energy parliamentary to propose a new law on oil and gas legislation in parliament without reference to the government," ./ ended / 8 /
http://www.dananernews.com/News_Details.php?ID=6211

Thunderhawk:  Yeah Doc Like you we're saying many of the euro zone countries are looking for the exit.

So where does that leave the Euro?   LOL

ThunderHawk    GO RV

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Thunderhawk:      Backdoc Alert

Wake Up to U.K. Exit Risks, Banks Tell Investors as Polls Shift
Investors are being urged to tune into the looming political battle over the U.K.’s membership of the European Union amid signs it will prove closer than most now think.

UBS Group AG, Citigroup Inc. and Morgan Stanley are among the banks advising clients to pay more attention to the so-called Brexit debate. They are doing so as opinion polls show diminishing support for staying in the 28-nation bloc even before Prime Minister David Cameron sets a date for the referendum he has promised by the end of 2017.

Citigroup last month raised its probability that voters will choose to withdraw from the EU to as high as 30 percent; Nomura boosted its estimate to 25 percent and Societe Generale SA this week stuck by its 45 percent call. Morgan Stanley said last week that the chance of leaving is not “adequately priced” into U.K. markets.
“People should have it on their radar right now,” said David Tinsley, an economist at UBS in London.

“Regardless of your view of Europe, you’d expect some volatility if the possibility of departure increases.”
Long-standing hostilities toward the EU will be on display this week Cameron’s Conservative Party holds its annual conference in Manchester. Europe’s migrant crisis is threatening to fan anti-EU sentiment and there are fresh questions over the opposition Labour Party’s traditional pro-EU stance since Jeremy Corbyn became its leader.

Market Focus

“There will come a point between now and the referendum date when markets will start to focus much more closely on Brexit risks,” Michael Saunders, chief European economist at Citigroup., wrote in a report last month. “A vote for Brexit would threaten the U.K.’s economic and political stability.”

Uncertainty over the vote outcome may prompt gilt traders to discount any prospect of higher interest rates from the Bank of England in the advance of the ballot, according to UBS. Bets on a 2016 rate increase have receded amid mounting evidence that cooling growth in China and emerging markets is starting to weigh on the British and U.S. economies. Sonia forwards are pricing in a 71 percent chance of a 25 basis-point hike by next November. The pound is close to its lowest levels since May against the dollar and the euro.

As the EU debate heats up, the stocks of financial and commercial real estate companies may suffer given they could lose out the most if voters choose to quit the EU, the Swiss bank said in a report last month. At Societe Generale, strategist Kit Juckes lists Brexit among the “big, fat, ugly” outside risks leading him to bet on a weaker pound.

Growing Concern

“We’re seeing more and more clients concerned about this,” said Ian Harnett, chief investment officer at Absolute Strategy Research Ltd. “It’s going to be an issue coming through and one that will introduce a degree of uncertainty in U.K. markets.”

Quitting the EU would jeopardize the U.K.’s tariff-free access to 500 million customers -- the EU bought almost half of Britain’s exports of goods and services last year -- as well as its ability to draw foreign investment and shape continent-wide regulations. Those who want to cut ties say new trade deals could be struck and that the EU swamps businesses with red tape, drains taxpayer money and leaves the U.K. vulnerable to an influx of foreign workers.

The divisions are increasingly reflected in narrowing polls, which may roil markets as they did ahead of 2014’s Scottish referendum. A YouGov survey released last week found 40 percent wanted to leave the EU and 38 percent wanted to stay put, giving the Brexit camp an advantage for the first time in almost a year. It found
The latest ComRes poll, published Tuesday, provided better news for Cameron, who says Britain should remain in a reformed EU. It showed 55 percent in favor of staying and 36 percent wanting to leave, a similar margin to that found in June, and there was a sharp drop in the number of don’t knows.

Business Plea

Doubt surrounds just what Cameron can secure in his efforts to renegotiate the terms of membership and also when the referendum will be held.

While Cameron has pledged to “get the things Britain needs,” businesses are calling for the vote to be held sooner rather than later to avoid damage to investment. Warning of a 50-50 possibility of Britain opting to leave the EU, the Institute of Directors said on Tuesday that a referendum in 2017 risks becoming “a chance to whack the political elite” after seven years of Tory rule, instead of a vote on the issues.

Old Wounds

The U.K.’s place in Europe is already reopening old wounds within the Conservatives. Tory lawmakers last month defeated Cameron’s attempt to allow civil servants to work in support of his position in the run-up to the referendum. Former Chancellor of the Exchequer Nigel Lawson said last week he’ll lead a campaign for Britain to leave the EU, arguing that the government won’t succeed in securing the necessary reforms.

A report published Friday by the Open Europe think tank, which examined recent public statements by the Conservative Party’s 330 lawmakers, found that 69 would probably back an exit from the EU, with 203 likely up for grabs. Only 58 seem assured to vote for Britain to remain in the bloc.

While Labour’s conference backed staying in the EU, Corbyn was more skeptical of it prior to his surprise election as Labour leader last month. That makes Philip Rush, an economist at Nomura in London, say Labour’s support for the EU may still weaken.

“Whatever one believes the pros and cons about leaving, we should expect the associated uncertainty to have an impact on investment decisions and capital flows ahead of the event,” said David Owen, chief European financial economist at Jefferies International Ltd.

http://www.bloomberg.com/news/articles/2015-10-05/wake-up-to-brexit-risks-ubs-to-morgan-stanley-tell-investors

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