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Thursday, October 29, 2015

MILLIONDAY CHAT UPDATE, 29 OCT

Millionday: WE HAVE MANY AGENDA ITEMS TO LOOK AT AND SOME NEWS TOO — HAVE TO GET IT ON HERE SO DON’T GIVE UP
Millionday: WELCOME TO NEWSTIME EVERYONE
Millionday: FIRST LETS LOOK AT TOMORROWS AGENDA
Millionday: WITH THE INVESTMENT LAW PASSED AND THE REPORTS WE HAVE IT SHOULD BE ALL ECONOMICAL AS WE EXPECT
Millionday: First, read verses from the Koran. Second: the vote on the draft law on ratification encouragement and protection of investments between the Government of the Republic of Iraq and the Government of the Republic of Belarus Convention on the Law.(Committee on Foreign Relations, the Committee on Economy and Investment), (2 article).
Millionday: NOTE — THESE ARE TRADE AGREEMENTS
Millionday: Third: The vote on the draft ratification by members of the diplomatic and special passport holders agreement and the service of feature access between the Government of the Republic of Iraq and the Government of the Republic of Azar Bijan law. (Foreign Relations Committee). (Article 2).
Millionday: NOTE — THE PASSPORT LAW –=-VERY IMPORTANT AND AGAIN TRADE AGREEMENTS
Millionday: Fourth: The first reading of the draft law on ratification agreement on economic and technical cooperation between the Government of the Republic of Iraq and the Government of the State of Kuwait law.
(Committee on Foreign Relations, the Committee on Economy and Investment, the Finance Committee, the Committee on Health and the Environment, Committee Services and Construction). (Article 2).
Millionday: WHOOPOW — AGAIN TRADE AGREEMENTS ETC BUT THIS TIME WITH KUWAIT — MANY YEARS IT TOOK TO GET TO THAT POSITION
Millionday: Fifth: the first reading of the draft accession of the Republic of Iraq to the International Convention on the Law of the Prevention of Pollution from Ships for the year 1973 (the Foreign Relations Committee, Committee Services and Construction). (Article 2).
Millionday: Sixth: The first reading of the draft law of the Fourth Amendment to the Civil Aviation Law No. (148) for the year 1974. (Commission services and reconstruction). (Article 9).
Seventh: The second reading of a bill defining the mandates of the three presidencies. (Legal Committee).(Article 8).
Millionday: NOTE — OBVIOUSLY VERY IMPORTANT — THE THREE PRESIDENCIES — MANDATES — ALSO AVIATION AMMENDMENT FROM 1974
Millionday: Eighth: The second reading of the draft law of the letters and exchange of notes and minutes of discussions on the Japanese loan to the Republic of Iraq, signed on 05/25/2015. (Committee on Foreign Relations, the Committee on Economy and Investment, the Finance Committee, Committee Services and Construction)
Millionday: NOTE — SECOND READING OF LOAN WITH JAPAN — ALL ECONOMIC
Millionday: WHOOPOW
Millionday: (Article 2).Ninth: discuss the issue of the integration of the Ministry of Tourism and Antiquities with the Ministry of Culture.Tenth: discuss the subject of salt water in the province of Basra. Eleventh: discuss the issue of entitlements peasants Exchange.Twelfth: discuss the subject of the new salary ladder.
Millionday: OBVIOUSLY THE NEW SALARY LETTER HAS BEEN IN THE NEWS AND WE WOULD EXPECT THEM TO BE DISCUSSING — VERY HUGE AGENDA FOR TOMORROW
ktwilder: So when will we see it OFFICIAL the parliament law is passed and the endorsement of President Masum and publication in the gazette all the way thru and in stone, done, written
Millionday: WHICH LAW ?
Millionday: THE INVESTMENT LAW IS BEING PRINTED IN THE GAZETTE — THE SECOND AMMENDMENT IS THERE ALREADY
Millionday: WE ARE LOOKING AT AMMENDMENTS TO EXISTING LAWS — NOT NEW LAWS
ktwilder: Investment law
Millionday: TIM AND JULIE — DID I ANSWER YOUR QUESTION?
Millionday: TIM
Bax: Someone brought in an article this afternoon… that said that they were declaring tomorrow a “Holiday” … since it was Raining… with all that’s going on…how could that be possible…cancel all of these important issues because of rain? or was that a bogus article?
Millionday: BAX — I CANT IMAGINE ANY COUNTRY CALLING FOR A HOLIDAY FOR RAIN – MAKES NO SENSE AT ALL AND WITH ALL THESE YEARS NOT AT ALL
Bax: ok… thx…but thats what it said, I cant either
Millionday: OH I’M SORRY KYWILDER (who is timandjulie) DID I ANSWER ALL YOUR QUESTIONS ?
Millionday: BAX I AGREE — CANT IMAGINE
ktwilder Millionday: Yes thanks it was asked all day today in here.
MadeeandLynndee: Were the laws that were voted on passed?
Millionday: THIS IS FOR THURSDAY AGENDA – SO TOMORROW
Millionday: BUT MANY TRADE AGREEMENTS –
Millionday: WHOOPOW
Millionday: KNOW ONE THING — THE MAJOR AGREEMENTS ARE STRATEGIC FRAMEWORK AGREEMENTS — THEY DON’T REQUIRE PARLIAMENT ATTENTION
Millionday: A FRIEND HAS GIVEN ME A GREAT REPORT — BRB WITH IT
Millionday: Department of Foreign Economic Relations in the Ministry of Commerce held a workshop for a group of employees of the ministry’s departments and companies on the issue of classification of non-tariff technical barriers to traders, which is part of the activities of the World Trade Organization WTO Department
Millionday: NOTE — THE WTO COMPLIANCE AS THEY WORK FORWARD
Millionday: Sudanese Hashim, Director General of Department of Economic Relations at the Ministry of Commerce said that the goal of the session comes to clarify the importance of this issue in the provision of integrated databases for business in Iraq enabling environment for foreign business and investors access to the Iraqi market easily and transparently.
Millionday: NOTE — THEY ARE MEETING TO MOVE FORWARD WITH FOREIGN INVESTMENT — WHOOOPOW
Millionday: He added that the Department of Economic Relations had already been several workshops on the subject were held with Iraqi ministries in order to provide integrated data on the business environment in Iraq, the rules to be able then to link this information with the World Trade Center databases (ITC)
Millionday: SO LET ME SAY — ALONG THE WAY WE HAVE WITNESSED WTO COMPLIANCE ALONG WITH MANY LAWS AND AMMENDMENTS AS REQUIRED BY THE WTO –
DON’T BE CONFUSED — IRAQ IS AN OBSERVER BUT THE GOAL IS TO BE AN ACTIVE MEMBER
maine: that was a lot to take in!
Millionday: YES IT IS A LOT — I AGREE — WE SHOULD SEE A LOT NOW THAT THE INVESTMENT LAW IS LAW — ACTUALLY MANY THINGS HARD TO UNDERSTAND SHOULD BE PART OF OUR NEWS NOW — I PRAY
Nadita: WOW.. they are moving with high speed… any other big items we are still waiting..???
Millionday: NAD — I DON’T KNOW OF ANYTHING BUT MAKING ALL AGREEMENTS LAW AND MOVING FORWARD WITH MARKET ECONOMY IMO
Millionday: I KNOW OF NO LAW IRAQ IS WAITING ON
Millionday: IMO
Millionday: DISCLAIMER
Millionday: I went back to the economic and investment commission in the House of Representatives, on Tuesday, amendment of the Investment Law, an important step towards Iraq put on a new in this area threshold,
and stressed that the law gave investment facilities and the protection of the investor and the granting of provincial decentralization of powers, with the Legal Committee drew that law includes financial sanctions on projects investment lagging.
Millionday: NOTE — THE LAW INCLUDES FINANCIAL SANCTIONS ON PROJECTS LAGGING — THIS IS A HUGE STATEMENT
Millionday: NOTE — THE INVESTMENT LAW IS THE NEW THRESHOLD
Millionday: He added Bolani, that “the law taking into account the financial and ministries, housing, industry, municipalities and agriculture and touched the private sector for the first time the country’s need,”
pointing out that “the law to ensure the development of the concepts of housing and exemptions and privileges of a new reflected on the ultimate beneficiary, as well as loans and the allocation of plots of land.
Millionday: NOTE UNDERSTAND THIS MEANS THE MOVEMENT FORWARD FOR IRAQ TO TRADE
Millionday: “He Bolani, that” the law included a set of ideas and the Investment Authority will issue instructions to its implementation, “stressing that” the law gave the facilities in the field of industry, agriculture, housing and granting the provinces to decentralize authority, and provided protection for the investor to bring in investors foreigners “.
Millionday: NOTE — REALIZE THAT THE DIVERSITY THE WTO ETC REQUIRED OF THEM IS INCLUDED IN THESE FIELDS
Millionday: For his part, Head of the Legal Committee in the House of Representatives, Mahmoud al-Hassan,” The amendment of the Investment Law guarantees a sophisticated special provisions and put strict conditions on lagging investment projects, “noting that” the law put delay penalties up to large sums of money on these projects.
Millionday: NOTE — THE INVESTMENT LAW PUTS INTO EFFECT THE AGREEMENTS THAT BRINGS REVENUE — HUGE
Millionday: “He added Hassan, that “the law reassured investors through the possibility of resorting to international arbitration between the investor and the government,” noting that “the law introduced sophisticated provisions that encourage investment in the country.”
The House of Representatives voted, on Tuesday, unanimously approved the second amendment to the law of the Iraqi investment No. 13 2006.
The vote came on the second amendment to the investment law after claims of economic and political actors need to amend the law to allow for the expansion of investment in Iraq in all fields, especially in light of the financial crisis currently experienced by the country.
Millionday: SO AS WE SEE — THE LAW BRINGS FORWARD THE TRADE AGREEMENTS ETC THAT BRINGS REVENUES — THIS IS HUGE — THEY ARE MOVING FORWARD AS WE EXPECTED
_firefly_ Millionday: I love Holidays !!!!!!!!
Millionday: I LOVE HOLIDAYS TOO HUN
msdiva: Do we have to wait until all this is printed in the Gazette before we see movement on their currency rate or will that come later?
Millionday: THE AMMENDMENTS ARE BEING RECORDED NOW IN THE GAZETTE — THE SECOND AMMENDMENT IS ALREADY PRINTED
pinklady: Will the trade agreements they seek happen or… even be possible without a Rate?
Millionday: WE DONT HAVE FIGURES BUT GLOBAL TRADE IS ECONOMICS 101 — THEY SEEM TO BE REQUIRED IMO TO COMPLETE THE INTERNATIONAL EQUATION
Nadita: if I read this correctly.. Iraq has given the stalled projects the go ahead that means they are ready to enter the market economy and can’t do it without the tradeable currency.. so they could push the button sooner than later.
I remember they talked about these projects many times before, so they were negotiating the contract, agreed upon and put them to nap and wake them up now??
Millionday: THE AGENDA TOMORROW SEEMS TO BE ABOUT MANY TRADE AGREEMENTS OUTSIDE OF STRATEGIC FRAMEWORK AGREEMENTS
Nadita: You mean the funding will start pouring to these projects to start…?
Millionday: I CAN’T SAY THAT
Millionday: BUT IN THEIR BEST INTEREST IN NEEDS TO
Nadita: I know disclaimer..
Nadita: since IMF said 3 days ago that Iraq is ready to enter global market by early 2016.. I feel that’s the deadline Iraq will have to meet to be inducted to IMF/WTO or whatever.. but they have to finish their business prior to that time
Nadita: that not also means for projects only that needs funding but for their currency to be tradeable worldwide.. do you think, MD…?
Millionday: I THINK THAT IS THE BACK END CONSIDERING WHAT NEEDS TO BE DONE FIRST
Millionday: DISCLAIMER
Nadita: Millionday.. understand MD.. thank you so much..
Millionday: IMO — THE WHEN IN ALL OF THE PLAN IS THE IMPORTANT PART — THINKING ABOUT EVERYTHING THAT IS PLANNED
Millionday: NEWS IS SHY UNDERSTANDABLE
Millionday: ruled out a number of experts and specialists in the financial and economic affairs the country’s vulnerability to financial bankruptcy in the event of continued decline in oil prices, noting that Iraq has a large cash reserve and coming to the big his business cards production and export of crude oil increases,
while underlining that in the event the country’s vulnerability to bankruptcy government will resort to several options, including printing new currencies to address the crisis by the inflationary financing to create futures economic movement.
Millionday: NOTE — ONE OF THE RESOLVES OF COURSE IS THE NEW CURRENCY
Millionday: An official source at the Central Bank, said that “the country’s vulnerability to financial bankruptcy is unlikely for several reasons, including that oil prices fall, but not up to Zero, as well as that Iraq is on the verge of significant increases rates of export of oil,
as well as Iraq Atlk large cash reserve from which to create development projects as it is now in the Central Bank’s program of six trillion developmental dinars,
in addition to the existence of other non-oil resources can be activated such as agriculture , tourism, industry, taxes and other “, adding that” Bankruptcy is exposed to him under an international economic blockade, or states that it was fighting a major war.
Millionday: NOTE – ONCE AGAIN NOT JUST OIL BUT ALSO DIVERSITY
Millionday: “The source, who requested anonymity, told / JD /:” There are several options on the table with the government in the event that the country Financial filed for bankruptcy,
including external borrowing from international banks as well as the printing of Iraqi currency and create inflation, stagflation, or the so-called funded budget to inflation, and this would convey the bankruptcy of the state to the community, as well as it will create layers in society wealthy layer and layer crushed and dramatically.
Millionday: NOTE — IRAQ`S GOAL IS NOT BANKRUPTCY — NOT A HARD RESULT
Millionday: “He explained that” This option is bad because it will create a futures economic movement and located him severe accumulations, including the deterioration of the dinar exchange rate against the dollar and creates ill-high distribution of cash currency in the market becomes runaway inflation economy, the government may resort to this option, but not completely, but partially.
Millionday: NOTE– OBVIOUSLY — THE NEW CURRENCY WOULD BE A SMART MOVE IMO
Millionday: “The expert Alavtsada lion Mohammed Ali warned of resorting to a proposed Iraqi currency printed in the case of the country’s vulnerability to financial bankruptcy, stressing that he could not repeat the nineties of the last century, the experience of the fact that Iraq at the time was the subject of the economic blockade and the international limited currency on the local trading depending on what is sold in the markets of local produce, as well as limited Iraqi economy and then on the internal circulation.
Millionday: Mr Mohamed Ali told / JD /: “Iraq today is fully dependent on import, so the reprint currency would not work in dealing with any economic problem.” He called the economic expert to develop an effective and radical solutions from which to contain the crisis and the lack of impact on society.
Millionday: For his part, an expert on financial affairs spokesman Hadi al-Tamimi, there are many solutions that can be resorted to in the event that the country’s economic crisis Kberh may lead to bankruptcy, to encourage deposits and increase profits and the granting of loans by the Central Bank in accordance with the development programs to create an economic movement, in addition to supporting the private sector and make it a competitor for a year.
Millionday: NOTE — THE COUNTRY IS GOING TO BE A COMPETITOR — OH HONEY
Millionday: He said al-Tamimi told / JD /: “The launch additional Iraqi currency into the market could be a solution but it will cause great economic inflation will have future implications for the economy and will affect the dinar exchange rate against the dollar , it is partial and timely solution to the crisis, but for a limited period not exceeding 18 months. ”
Millionday: NOTE — THE INITIAL ADDRESS OF THE NEW DINAR REDENOMINATION WILL IMPACT THE USD OF COURSE
Millionday: The former Iraqi regime resorted to printing additional Iraqi currency, and put on the market during the nineties of the last century, when Iraq subjected to an economic blockade of an international led to financial bankruptcy and stop the economy in the country ./anthy/ 8 /
Millionday: SO AS WE KNOW THE THREE ZERO CURRENCY WAS PRINTED WHEN IRAQ WAS SUBJECT TO THE ECONOMIC BLOCKADE —
WE KNOW THAT BUT — ISN’T THIS THE CHANGE WITH THE CHANGE OF THE USD TO THE DINAR — WHOOPOW
Swan2013.MDCOPY: GLAD I AM SITTING MD!
Nadita: Oh my gosh
Millionday: I HAVE HURT MY HAT
Millionday: LOL
Nadita: Am I reading this correctly.. they are saying that new currency or rate will be a competitor to USD in the country for a year to 18 months. They will not print more dinar to create inflation but rather will go back to former regime…???? I say big whoopoww
Millionday: WHOOPOW
Nadita: I am glad I am in the chat tonight LOL thank you so much MD for your hard work bringing the news.. and reading them and giving interpretation of the news…
Millionday: YW ALL THE TIME HUN
Tiger: The currency we hold is not from the ninety’s, it was printed in 2003, currency from ninety’s had Hussien’s image on it
Millionday: THE NINETY`S IS WHEN IT HAPPENED — NO ONE HAS CURRENCY FROM THEN
Millionday: IT IS TALKING ABOUT THE CHANGE THAT OCCURRED — NOT THE SERIES OF THE CURRENCY
Nadita: Tiger.. I think the news implicating the rate not the actual currency
Tiger: ok thanks I misunderstood
Nadita: so what they are saying is that they will stabilize the exchange rate between USD and dinar for a year to 18 months and in that time frame.. it can go up based on demand
Millionday: IMO — YES
Nadita: the market will then dictate the rate to where it will go to pre 90’s.. and what is the rate in pre 90’s
Millionday: POST 90`S
Nadita: yes I mean post 90’s
samson: So does that mean M/Day we are only looking at a $1 approx for the dinar for 18 mths out of country?
Millionday: NO — IT MEANS IMO THAT THE CALCULATION WILL BE DONE NEXT
Dr Dave: I thought currencies were to be asset based
Millionday: IT DEPENDS ON WHAT COUNTRY YOU ARE AT THIS POINT — FIAT OR HARD BACKED IS AN ISSUE BEING RESOLVED I ASSUME BUT NO THE RATE HAS NOT BEEN RELEASED —
AND NOT JUST ASSETS ARE USED IN CALCULATION — GDP — ASSETS ETC ETC — SO NOT JUST ASSETS
Millionday: TOMORROW PARLIAMENT WILL BE VERY IMPORTANT

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