Saturday, January 4, 2014


Yesterday  (Jan 02) started the first of three (3) stages in the implementation of the Custom Tariffs of Iraq.

    All border crossings are now taxing up to 20% of all Luxury Goods being imported into Iraq.

    What does this all mean?

    This means that additional revenue is now being added to the yearly budget which will help insure yet another surplus for Iraq in 2014.

    It also means that all border crossings are now linked directly with the Central Bank of Iraq for accountability which means that Iraq has taken its first real step into a Free Market Economy.
     It means that the other two stages, tariffs on non-essential and essential goods will be next and the Central Bank of Iraq will need to adjust the value of their currency if they do not want to experience inflationary problems going forward.

    It is just logical that if they tax these goods at the border the adjustment needed in pricing once the goods reach the market place will be increased by at least the same, by 20%.

    It is also logical that this increase will be much higher than 20% because of all the other hands  that the goods pass through just getting them to market.

    The point being, the Iraqi’s cannot afford that kind of change without inflation taking place.

    There must be a balance going forward and it is the responsibility of the Central Bank of Iraq   to control inflation through Iraq’s Monetary System.

    The Arabic side of the CBI Website:

    “Proposals to amend the Central Bank Law No. (56) for the year (2004) and the Banking Law  No. (94) for the year (2004) and the law of money laundering and financing of terrorism No. (93)  for the year (2004) provided by the Directorates and Departments Iraqi Central Bank and the  banks licensed in Iraq”

    Link:  CBI  http://cbi.iq/?pid=Home&lang=ar

    All of these topics, Banking Laws, Money Laundering and Financing of Terrorism No. (93) are  some of the most important things that we have read about for stability and security prior to  any change accruing in Iraq.

    With this post on the CBI Website it is obvious that the CBI is taking actions now to amend all these laws.

    This is why for this blog I have focus on the Tariffs and this Central Bank Law No. (56) for the  year (2004) and why these are so important.

    The cost of goods directly reflect the value of the Iraqi dinar!

    Here is just a few paragraphs of this Law No. (56), that should help you understand it:



    Acting in a manner consistent with the Report of the Secretary General to the Security Council  of July 17, 2003, concerning the need for the development of Iraq and its transition from a    non-transparent centrally planned economy to a market economy characterized by    sustainable economic growth through the establishment of a dynamic private sector, and the need    to enact institutional and legal reforms to give it effect,

    Having coordinated with the international financial institutions, as referenced in paragraph 8(e) of    the U.N. Security Council Resolution 1483,

        I hereby promulgate the following:

    Section 1    Purpose

    This Order establishes a safe, sound, and independent Central Bank for the purposes of    achieving and maintaining domestic price stability, fostering and maintaining a stable and    competitive market-based financial system, and promoting sustainable growth, employment,    and prosperity in Iraq.

    You can read more (LINK), the reason for the CBI to be linked directly with the tariff system    is simple, they control the economics of Iraq through the ability of changing the monetary system    as needed.  

    Now what is the Coalition Provisional Authority (CPA)?

    The Coalition Provisional Authority (CPA) was established as a transitional government following    the invasion of Iraq by the United States, United Kingdom and their allies, members of the    Multi-National Force – Iraq which was formed to oust the government of Saddam Hussein in    2003. Citing United Nations Security Council Resolution 1483 (2003), and the laws of war, the    CPA vested itself with executive, legislative, and judicial authority over the Iraqi government from    the period of the CPA's inception on 21 April 2003, until its dissolution on 28 June 2004. (LINK)

    These same CPA Orders apply to the Custom Tariffs as well and why we have read about    them overseeing the implementation of the laws to protect Iraq’s domestic products.

    The reason I am bringing this all together is because how important the subject of domestic    product protection and the implementation of tariffs are to the World Trade Organization    when it comes to Iraq’s Full Accession.

    The CPA in an effort to balance the war torn economic condition of Iraq took the tariffs away    in 2003 so Iraq could take advantage of the low cost of import goods due to the low    purchasing power (value) of the dinar. So now you can see how important that it is that they    both, implement the tariffs and give the dinar more purchasing power (value) at the same time.

    Quote: 2003 - CPA Order 12, amended by Order 54, suspended all tariffs, thus removing    the advantage that domestic Iraqi producers had over foreign producers.(LINK)

      Now to have a Free Market Economy based off building the private and public sector where    the locals can produce products they must take the advantage away from foreign importers, hence    the implementation of the custom tariffs once again.

    With the fight against terrorism underway, with the help of the US and Russian militaries and    the ability for Iraq to gain stability once again gives credence to the rest of the important    news moving forward into 2014.


1-4-2014   Newshound Guru tlm724   Article:  "The high proportion of counterfeit currency deposited with the Central Bank"  The central bank has asked all banks months ago to disclose measures taken against the applicants fake banknotes...all part of the banking and anti- money laundering laws.  Quote: "revealed the arrest of a gang in possession of 12 million dinars forged, asserting that the gang admitted rigging three billion dinars"  they are getting them!  there is a way to stop this Iraq!  [yes, break out the new currency.]   bingo!

1-4-2014   Newshound Guru Bondlady
   Article:  "Traders in Basra are demonstrating to demand the cancellation of the decision to apply the Tariff Act"  just like I've said...when they start taxes, the people will go nuts about less purchasing power, to tax them on 1170 is crap an they know it too lol, hang in there, the people are about to get a lot madder and the cbi will have to, IMO, do something about it very soon.

1-4-2014   Newshound Guru Millionday
   Article quote:  "The agenda of the meeting includes a vote on the draft law on ratification of agreement on the encouragement and protection of investment between the Government of the Republic of Armenia and the Government of Iraq and the vote on the draft labor law. the vote [Saturday] on the labor law is huge...saturday is also when the budget is voted on  or at least presented and of course the lack of cash right before they are closed for a couple days is not bad and also that they are planning on bonds on the 7th and have activated the tariff and customs.  so we are in a great place.

1-4-2014   Intel Guru NOVA
    Their Banking System Is Living Day To Day Because Of The Spot They're In.  Having To Play Under Article 8 With Out Having All The Tools Need To Do So.  IMO, They Will Have All The Tools Available To Them Very Soon.  [They appear to be running out of options...Having seen the stories of the banks facing problems around the country, do you see this as the CBI holding back from them?]   I wouldn't get too perturbed about seeing the CBI auction today. They have the capability to change that rate in the blink of an eye, in the matter of a heartbeat. Just my opinion.  Agree, The CBI IS Holding Back/Controlling The Cash In The System Daily. The Flood Gates Are Getting Ready To Open...

1-4-2014   Intel/Newshound Guru Poppy3  

1-4-2014   Intel/Newshound Guru Poppy3   they have no 3 zero dinar left in banks. All are not out but many are. Many contractors are not able to pay workers and people on the streets are trying to turn to street dealers and it appears they are out also. CASH flow from from tariffs and bond sales can't generate cash flow without a rate.  THEY WILL HAVE TO COME UP WITH SOME CASH FLOW VERY QUICK OR THE ECONOMIC GROWTH AND THEIR FRAGILE ECONOMY WILL SUFFER RAPIDLY.  [post 1 of 2....stay tuned]

1-4-2014   Newshound Guru Stryker 
  It means that the other two stages, tariffs on non-essential and essential goods will be next and the Central Bank of Iraq will need to adjust the value of their currency if they do not want to experience inflationary problems going forward.  It is just logical that if they tax these goods at the border the adjustment needed in pricing once the goods reach the market place will be increased by at least the same, by 20%. It is also logical that this increase will be much higher than 20% because of all the other hands that the goods pass through just getting them to market.  The cost of goods directly reflect the value of the Iraqi dinar!   [post 2 of 2]

1-4-2014   Newshound Guru Stryker
   Yesterday [Wednesday] started the first of three (3) stages in the implementation of the Custom Tariffs of Iraq.  All border crossings are now taxing up to 20% of all Luxury Goods being imported into Iraq. This means that additional revenue is now being added to the yearly budget which will help insure yet another surplus for Iraq in 2014.  It also means that all border crossings are now linked directly with the Central Bank of Iraq for accountability which means that Iraq has taken its first real step into a Free Market Economy.   [post 1 of 2....stay tuned] [See possible “to do list” in the DinarGuru resource bar on the left...#11]


Below is a link to the first article I have seen in a long time that directly references a "Global Currency Reset" and is sourced from outside the "Dinar World."


It takes me back to a conversation I had with the person who told me about the Dinar speculation three years ago. At the time, the Global Reset rumors were just gaining real traction in the Dinar community. I told my friend that based I my research (and education, training, experience and etcetera), if the RV was about Iraq, we had a while to wait as that part of the world does not work like the Western World (FYI, "The Arab Mind", by Raphael Patai is a great read and provides great insight to the Arab Worlds way of thinking.)

 But of the RV really was part of a Global Currency "reset" then it would be years away as the world's financial system had many complicated changes to implement before it could handle such large scale, radical adjustments.

Mine is one of the voices that has consistently said if the Dinar's RV was tied to a "Global Currency Reset" then we would not see it until at least 2014-2015.

That position was based on my knowledge of the global financial system, economics, politics and research. As Tony has oft said, and I paraphrase, do your own research, run it through your own sieve of common sense, then compare it to what you hear in the Dinar world and ask, "now who does that make sense to?"

Those who are interested, use the above linked article as a jumping off point and look into the global process of moving the financial system away from the US Dollar as the primary reserve currency and you will see where we are in the GCR process. For the all to well known "bashers" on this site, let it begin.
Have a great day.


East Coast - January 1st 2014

Thought I would do a mid-week update and insight for you guys out here. Remember I have been speaking on the gold standard and other money? Well let me reiterate the fact on something.

First I have got word there was a MR B on a call last week and he states that we won’t be on the gold standard but greenbacks and asset based currency (includes oil). Well NOT TRUE. Greenbacks have to be based on some sort of precious metals---gold, SILVER, platinum. ANY paper currency will and must be backed by a precious metal...period, no discussion. When the 38 representatives sent the order to the joints chiefs of staff in 1994 (Jon Shelikashvili) ... this order stated that they would 
1. Restore the republic constitution  
2. Return us to the gold standard. ALSO the St Germaine trust is gold backed and the fuel for all nations of the world. This MR B also states oil could be one of the assets, but if we have air and hydro fueled vehicles and the teleport pods are released then oil becomes obsolete...so oil will not have value over the course of a few months or even short years away. ONLY GOLD, SILVER, AND PLATINUM, Will be the currency platforms for this country. The gold standard will be the basis for the WHOLE WORLD. Don’t let some of these GURUS incite fear or illusions into your hearts. WHO ARE THESE people!?

Now...i had a short conversation yesterday with a close friend and knowledgeable one at that. After the Federal Reserve had its last charter day on this last December 23 2013...they were given a 10 day grace period. Now we only know that they are under strict obligations to give up because they don’t have any GOLD to help fund their fiat system. They can’t come up with anything to back up FRN's. So the word to me was the 10 day grace period (started Dec 23) is almost up!! You all do the math ;)
We are also seeing some pretty major names in Main Stream Media having "problems"----Ariel Sharon, Barb Bush, more big bankers killing themselves etc. So here we are, watching all of the big show. 2014 is now going to start with positivity. NO DOUBT. Treasury yields are still rising at current so....we wait for the big crash!

Doug, East coast, Buck McCall


Millionday News 1/3/14

    [millionday] we have some very important things to talk about tonight so we are going to ask questions after reports and help with copying

    [millionday] first i am going to bring up some things that came out in world news today  --   so first here we go - today a lot happened in Iraq -- but it is political and military of course the North of Iraq is secure and not having much problems but  there is a lot going on in south

    [ROBINREDHED] its a mess

    [millionday] Iraq`s Military has and police etc taken charge  and it is making huge progress - the attacks are all in the news and prepare to see it but let me address that we are here all about economics

     [millionday] now today some things happened on that side as well  here we go with that


    [millionday] erbil stock market signed today with nasdaq and that is huge huge and is expected to have that begin in the middle of the year  --   also

    [millionday] there has not been updates for the new year out of cbi and also the bonds are listed on there to begin with sales on the 7th of this month -- now there are some things that have happened i am bringing now to show you

    [millionday] this has been stated to be not of importance by saying that it happens every year but we that have been here know that is not true - i spoke of some of this today at roundtable but will bring it again and then some -- smile

    [millionday] here we go with this first

    [millionday] Locals in Iraqi Kurdistan have found themselves unable to withdraw cash from their banks, despite the fact that they have enough in their accounts.

It’s a liquidity problem that recurs every year around this time. Some financial analysts suspect a plot and locals have started keeping their cash under the bed. Nawzat Qader is standing helplessly in front of a bank in the city of Sulaimaniyah, in the autonomous region of Iraqi Kurdistan.

He had wanted to withdraw a small amount of money, so that he could cover his family’s needs over the New Year period. He had deposited IQD800,000 a few weeks ago (around US$500) but when he went to the bank to withdraw it, he was told that the bank had no cash and that he would have to wait.

    [millionday] now there is more that goes on about this issue but i would like to say this -- many of us were here and this was not even an issue last year bringing money out of the bank

    [millionday] electricity to see your money may have been an issue but obviously we know there is more to this

    [millionday] now we have some other things that have happened as well but the answer they are receiving is that they dont have any cash  --  that is ridicules  (ridiculous)

    [millionday] we know that they have recently brought funds into the banks etc so this is very interesting obviously and we will be following this  --  brb with more on this issue

    [millionday] Despite the optimism, the Electoral Commission for elections in Iraq's ability mechanisms of the new monitor funding campaign for the legislative elections scheduled for April next, skeptical observers and lawmakers in the effectiveness of this system, as it confirmed that the external financing «has already begun, and in ways that can not be detected by any supervisory body ».

 He announced the official spokesman for the Office chroma-Moussawi said in a statement to «life», that the Commission «has decided to extend the period of receipt of the candidate lists of political entities and coalitions to participate in the election of the House of Representatives next one week, until the end of working hours on Thursday» on the ninth of this month.

    [millionday] He pointed out that the Commission «has not so far received only four lists, mostly for non-head of sub-entities», adding that «the extension aims to provide an opportunity for political entities and coalitions to provide their lists».

He pointed out that al-Moussawi «system spending on election campaigns which was approved by the Board of Commissioners, select the amounts for entities to campaigns and political parties participating in the elections, which falls within the law of Iraq's accession agreement to the United Nations anti-corruption».

He stressed that «will contribute to the confiscation of illicit funds in the financing of the election campaign and the fight against vote-buying and the monopoly of the electoral process and the corruption of elections and political life».

    [millionday] And select System «ceilings financial disbursement in the campaign not to exceed expenses the campaign of the candidate per 250 dinars multiplied by the number of voters in the constituency, and select a political entity the same amount allotted to the candidate multiplied by the number of candidates for the list multiplied by the number of voters in the electoral district».

He explained that the reasons al-Moussawi, the adoption of this system is «creating equal opportunities for competition between political entities and candidates in the elections and how to achieve transparency in the collection and disbursement of funds in the campaign».

    [millionday] note -- the amount per person is amazing -- that is not a lot to say the least  --  there are some other issues in this report that are the reason i am bringing this

    [deaconfuzz] how does this relate to the banks not giving out the money that is in individuals accounts?

    [millionday] here we go with more of it


    [millionday] And saw an economist Haider Dawood said in a statement to «life», that «financing menus« phenomenon exists not only in Iraq alone, but in most countries adopted the democratic system, since this depends on the interests that bind our country to the rest of the region and the world ».

He pointed out that «interests are divided into two political and economic». He defended deputy «coalition of state law» Abdul Hussein al for the contents of this system, saying that the success of the command «depends on the political parties and find funding and how the behavior».

He stressed that the Office of Financial Supervision «User is able to control the exchange as well as the central bank, which will monitor the movement of funds and inflows and outflows of deposits and revenues».

    [millionday] note -- yesterday they were saying the law of financial supervision was not in place but any way -- smile there is more

    [millionday] now the activation of the mechanism to move money for the funding is new -- and having the control given to both cbi and the financial supervision is also new in funding control

    [millionday] as in my favorite part >>>>>>>>>>>>>>>>>> But Yasiri reduced the importance of control mechanisms on the funds moving between Iraq and abroad, and pointed out that «the regime was very strict before 2003, and must pass the security agencies, while today's companies operate more freely and less control».

    [millionday] He noted the independent MP Jawad Albzona, that «phenomenon generally accepted in Iraq is that most of the laws, decrees and regulations issued Not Applicable to the absence of a solid follow up the implementation».
He added that «Permissions Commission Sttjaozha political blocs that would be willing to pay whatever fines amounted to a trickle, because they want success at any price». And violations, announced that it «exist and transfers began via traders and businessmen not politicians belonging to parties of the apparent, but the work of subcontractors within these entities, and here enters the funds in the form of camouflage and would be difficult to monitor».

    [millionday] so as we see -- there is a new mechanism in place and the laws for it to move funds abroad for political elections and also whatever else they are including in this separate form

    [ROBINREDHED] nice

    [millionday] this is new in economic laws and funding control

    [millionday] i agree    brb with more

    [deaconfuzz] I would like to move my funds from abroad into my accounts

    [aJw70] What a rockin great news night

    [DBJJ] millionday Economic Laws have been passed and are being implemented then????

    [millionday] i agree   yes they have been dbjj

    [millionday] now we know this is the fastest that iraq has ever moved

    [millionday] The Kirkuk oil fields, has resumed the export operations on Friday, to the Turkish port of Ceyhan after a one-day suspension due to sabotage Northern Salahuddin province.

The source in the North oil company (News Agency): the fields of Kirkuk Friday, resumed pumping oil to the Turkish port of Ceyhan, after repairing the line President carrier was an act of sabotage near Baiji in Northern Salahuddin province.

    [millionday] so this being fixed this fast is also new in our book
[millionday] brb with more

    [millionday] Shahristani reveals discharged financial Baghdad morning revealed the Deputy Prime Minister for Energy Affairs , Hussein al- Shahristani , for his wealth , and with Office announced last a reconciliation of the statements of financial year 2014 , in order to activate the principle of transparency , indicated the Integrity Commission , that a large number of officials in the State , revealed disclosed their financial interests .

 According to a statement issued by the Office of the Deputy Prime Minister for Energy Hussein al- Shahristani , received "morning, " a copy of it , the reconciliation took place between the Ministry of Finance and the Integrity Commission , during which delivery uncover interests that received by the Authority under the official document number " 064 925 "

    [millionday] The statement , quoting Shahristani , that it comes from the principle of transparency for the detection of financial disclosure , calling on all Iraqi officials to disclose their financial interests . ,

it revealed the official spokesman of the Integrity Commission Hassan Karim pavilion in a press release , "The Commission received questionnaires revealed receivables Minister of Oil Abdul Karim defect , Justice Hassan Shammari , and municipalities and Public Works just Mhodr ,’

 the head of the National Investment Commission , Sami al-Araji , the administrative agent for the Ministry of Transport Salman Bahadli , and vice president of the Shiite Endowment Sami al-Masoudi .

    [millionday] note -- transparency -- smile

    [millionday] " He pavilion that "the Commission also received forms for financial disclosure to the inspectors general of the Ministry of Finance Maher Hussein Rashid and the National Intelligence Service , and the governor of Karbala, Akil Turaihi ."

And said that "the head of the judge Alaa Jawad Hamid and his first deputy, Judge Ezzat Tawfik Jaafar and general managers in the body came too Bzmmanm to the financial statements of the Department of prevention in the body responsible for the receipt of forms to disclose the financial interests of senior officials and track the health of its vocabulary with banks and financial institutions and the Registrar -General of the companies and the stock market and traffic circles , real estate and other relevant institutions . "
[millionday] so as we see -- this is nothing like last year -- nothing

    [millionday] they took months to get financial statements and red and i and many of you remember how ridicules (ridiculous) the time frame was

    [ROBINREDHED] thank God

    [millionday] i hear ya my friend

    [nona] i wonder what it's like for the Iraqi people to see things happening so fast? must be a major culture shock!

    [millionday] must be huge  brb with more smile  there was something more on the news today that i want to tell you about  up to the minute if you would like to try to find it later

    [millionday] maliki had troops go to one of the parliament members house and pull him out under arrest ---- from his family and 44 parliament members put in their resignation

    [millionday] now this is of course going to be in the news --- they are not and many are not happy at all with maliki

    [millionday] of course we are talking again political when we are here about economics --- but you need to be informed of the news where you come to get the news

    [millionday] so this issue will be either accepted by the gov or it will go through in a couple weeks as far as their resignation --- this close the elections there will be a lot of news about it but as we know the economic reform and banking is not on the shoulders of the parliament member

    [millionday] the progress of the economic side of iraq has to continue due to the fact that they have laws in place and of course their constitution but

    [millionday] in the future when we look back to see what is going on -- know that the constitution will be updated to not allow such things as they are discussing already of course

    [millionday] international help is a huge part of what is happening over this  brb with more

    [DBJJ] millionday I read another article that the MP had been released and the members would not disrupt the work of parliament. Sorry, don't have the articles to post.

    [millionday] exactly they are continuing to work --- so they see the need and at this point seem to care about the rush on the reforms -- again not like last year at all

    [nona] millionday they sure seem to be prioritizing the reforms over everything else - what a great sign

    [millionday] yes i agree   here we go

    [millionday] MP Hussein al-Marabi of the Iraqi National Alliance called the Chairmanship of the Parliament to hold exceptional sessions for the Parliament to endorse as many as possible of the important law drafts such as the General Budget law draft.

 Marabi stated to AIN “The current term of the parliament was characterized by the many vacations so I call the Chairmanship of the Parliament to reduce its vacations to be able to endorse the rest of the important law drafts.”
“Among the important law drafts is the 2014 general budget law draft which is still at the tables of the Council of Ministers,” he added, noting that “This budget is the largest in the history of Iraq which needs detailed discussions that might extend to months and this needs exceptional work of the members of the Parliament to expedite the endorsement of the budget law draft.”

The Religious Authority has called earlier the Parliament to expedite endsorsment of the important law drafts

    [millionday] now as red and I told you in the last week -- no budget does not freeze the gov as we have seen in our own worlbrb with more


[millionday] here we go

    [millionday] The House resumes its sessions on Saturday to vote on the two bills With the exception of its agenda to discuss the situation and the events of Anbar.

A statement by the Council and the agency has received the "eye of Iraq News" copy of "The agenda of the meeting includes a vote on the draft law on ratification of agreement on the encouragement and protection of investment between the Government of the Republic of Armenia and the Government of Iraq and the vote on the draft labor law."

The witness Anbar province, military operations between security forces and terrorists in Anbar tribes announced their support for the security forces and fight the armed groups.

    [ROBINREDHED] my budget freezes my world

    [millionday] the vote on the labor law is huge  - huge  they have been very upset over it not being in place and remember this was a huge problem when the US showed up -- so this is great for all to see

        [millionday] saturday is also when the budget is voted on  or at least presented but let me get it brb

    [millionday] The committee said in the House of Representatives, said the government will send a general budget bill to parliament next Saturday, noting that it is estimated at 150 billion dollars, of which 60% of the operating budget and 40% of the investment deficit of between $ 20-25 billion dollars.

A member of the Economic Commission MP Khalil Mahma in a press statement on Thursday, "The government has informed the House that it would send the federal budget for the year 2014 on Saturday after the completion of modifications and changes in it," he underlined that "Parliament will be in front of a national task in order to avoid All the problems of the adoption of the budget as soon as possible.   brb with more

    [nona] millionday does it make sense that they would want to draft the budget using the new rate?

    [millionday] off topic a little but huge for the region

    [millionday] yes it does but they may not and keep it at percentages

    [millionday] Supreme Committee for the Protection of the family, held a meeting deliberative with the Supreme Judicial Council to put the instructions and controls that will organize the work of the offices of legal marriage and to ensure the civil rights of a married couple.

came during a meeting held the office of President of the Commission and the Secretary of State for Women's Affairs d. Invocation Kasd Zaidi, who discussed the topics listed on the agenda, and take a number of recommendations.

statement by the Ministry of Women received the Agency (news) copy of it: that the members of the committee discussed the Interior Ministry report on the visit of the Department of Family and Child Protection from domestic violence, and the visit of the Minister of Women's Affairs offices legal marriage in the city of Kadhimiya and the results which follow them, and the law of the authorized legitimate, and the latest developments on women.

statement added that the committee had concluded several recommendations, the most important meeting of deliberative with the Supreme Judicial Council to find a suitable mechanism governing the work of the offices of legal marriage, and approached the Ministry of Justice to allocate a place for cases domestic violence within the position of women

    [millionday] smile  just thought it was nice to see  brb with more

    [Imperator] A civilized nation protects it's women from domestic violence.

    [tbob] social issues -- WTO??? hmmmm

    [nona] millionday very cool to see the social reforms taking place as well* *

    [nona] Imperator i agree absolutely

    [Imperator] And a milestone for an Islamic nation.

    [nona] Imperator indeed!  hopefully a model for others to follow

    [tbob] humanitarian issues -- hmmmmm

    [Imperator] great observation tbob

    [tbob] just calling it like i see it* *

    [millionday] here are a couple things that show you what they are doing  they are not new but lets not forget what we are seeing

    [millionday] The Governor of the Central Bank of Iraq acting Abdel Basset Turki, all efforts to radically change the laws in the banking sector, under the guidance of the International Monetary Fund, stressing that «the new laws that advance economic reality».

 He said during a seminar held by «Central» to discuss amendments to its law office in 2004 and the Banking Act and the law against money laundering, that «the delegates of the IMF in Washington advised us to play a developmental role and not limiting the role of central banks to regulate the monetary policy of their countries».

 He pointed out that «the central bank to take this guidance, which is preparing an economic development plan that will promote the economic reality of Iraq».

    [millionday] He pointed out that «most of the laws on the banking sector approved either after the change in 2003 or during periods varied environment exactly what we need today, so it has to be modified the Banking Act, which limits the movement and activity of private banks, local and even Arab and foreign companies operating in Iraq».

The Turkish during the seminar, which will continue its work for five days and involving a number of academics, experts and managers of banks, that «the central moving towards amending the anti-money laundering, as is the case with other countries that are looking through the experts, the possibility of the development of law».

He pointed out that «Sikad an international conference in Bahrain on 25 ongoing to determine the main obstacles facing the law and put forward the possibility of a new version compatible controls and mechanisms for all countries».

    [Relivfreedom] As in economic reality rate millionday?

    [millionday] yes

    [lorijeanmarshall] millionday Was this from todays news

    [Relivfreedom] Wow!!!

    [millionday] here are a couple things that show you what they are doing

    [millionday] they are not new but lets not forget what we are seeing

    [millionday] this was posted before this and here comes the rest

    [lorijeanmarshall] millionday Ohhhhhhhhhh, ok. That's fine. Just wasn't sure

    [millionday] smile -- last day of november

    [millionday] and they have announced the banking reform already so just a high light of what we are doing here for those of us that are getting a little tired of waiting

    [millionday] The CEO of the company «Beblan» British Circo Abed, specializing run banks, according to what is known as «the banking system mass email», that «the Iraqi central focus two years ago, the problem of the scarcity of capital, which makes it difficult to enter into contracts with investment firms or executive foreign,

 they are demand bank guarantee letter of very large amounts of capital in excess of the Iraqi banks ».

 He said «After raising banks' capital Another problem was the failure of the mechanisms of action of these banks, Vaovernmah of them are still operating systems completely forgotten in the rest of the states,

the private have been applied simple systems, which led to the reluctance of banks, Arab and foreign investment for work in Iraq as they need systems To keep up with the regulations ».

    [millionday] so as we see -- we have a lot done and a lot to gain along with the iraqis

    [millionday] now with the security and fighting in the south -- it would seem to me that the smartest thing is to activate the economy so

    [Imperator] Scarcity of capital makes me smile

    [millionday] seeing the labor law going through on or to on saturday is huge and of course the lack of cash right before they are closed for a couple days is not bad and

    [millionday] also that they are planning on bonds on the 7th and have activated the tariff and customs

    [millionday] so we are in a great place -- know one thing this is huge and the labor law is huge news for the iraqis and for us and for all   it is huge

    [lorijeanmarshall] millionday Can you briefly explain how the bonds play into all of this?

    [lorijeanmarshall] Thanks. Folks were asking today

    [millionday] bonds are for the gov -- they sell them and the person agrees to hold them for a certain time and they gain interest that is agreed on   they choose economically how many they need to sell  it is an economic tool

    [lorijeanmarshall] But they would have to sell at the new rate or go broke right?

    [millionday] yes i would agree

    [Imperator] And replaces the auction to keep the rate stable

    [millionday] smile

    [lorijeanmarshall] Thanks for taking the time to explain that real quick This way peeps can read in chat post

    [millionday] yes it is to keep inflation and the rate stable -- economic stability  no problem hun -- glad to help

    [millionday] will come in if any big news shows its face