The Exchange Rate of Foreign Currency in Economic Feasibility Studies
Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
Estimate the shadow price of foreign currency:
1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.
The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.
* What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:
- Export-outputs.
- Outputs marketed locally that substitute imports.
- Imported inputs.
- Inputs produced locally that usually go to exports.
- Foreign labor.
According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.
In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).
In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.
2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.
The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:
- The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
- The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
- The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
- The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
- This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.
And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.
3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
The Republic of Iraq – Ministry of Planning
and
A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...
In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.
1) the SIGR report…
2) the Gold Article…
3) the IIER report…
I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.
Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.
Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.
I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…
Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??
I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the CBI.iq website for “real” info on rate change.
The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.
Referring to an Enorrste post from today onTHE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )
“…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”…
Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??
Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s DINAR OBSERVER DAILY – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
__________________________________________________ _____________
THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.
We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.
BGG ~This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
__________________________________________________ ______________
I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…
1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.
2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.
3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.
I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.
4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..
__________________________________________________ ______________
AND
Coins put on the market !!
Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.
She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."
He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.
The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century
waradana.com
And
CBI is preparing to issue a monetary metal parts
Metal coins from the category of 25 fils were in circulation until the nineties of the last century
Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.
She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."
He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.
The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.
https://www.iraqhurr.org/content/article/26666313.html
and
Another "FLASHBACK"...
Economists Divided Over Deletion Of Zeros
By Amina al-Dahabi for Al-Monitor.
The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…
…Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.
The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.
ARTICLE LINK
Crush Expected When Kuwaiti Banks Reopen Today
March 24, 1991|From Reuters
KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.
Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.
"We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.
Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.
When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.
Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.
Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.
The new Kuwaiti money will be exchanged for old at a one-to-one rate.
https://articles.latimes.com/1991-03-..._kuwaiti-banks
BGG ~ Thanks to wmawhite for some facts on the subject.
Hi BGG,
Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.
You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.
When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.
Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.
Anyway thanks for the site and enjoy listening to your calls.
Kind Regards,
Kevin
Currency Auctions
Announcement No. (2866)
The latest daily currency auction was held in the Central Bank of Iraq on the 15-1-2015 results were as follows:
DETAILS NOTES Number of banks 21 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 242,258,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 242,258,000 Total offers for selling (US$)
Market Rate 1220
Last edited by sczin11; 01-15-2015 at 09:53 AM.
Cabinet Secretary calls for the adoption of committed and competent companies to promote investment projects in Iraq
15/01/2015 11:42 |
BAGHDAD / Source News / .. called the secretary general of the Council of Ministers Hamid Khalaf Ahmed to adopt committed to companies with a high degree of professionalism and technical competence has to move the reconstruction process, especially those that have had previous projects registered through outstanding performance despite the investment situation variables.
This came during a meeting with the secretary-general South Korean Ambassador Joe Jonk won and charge d'affaires aerial Hyunc Jean in his office, where the two sides discussed the security situation, which took the score marked improvement with the decline in the areas controlled by terrorist groups, prompting the Korean side to discuss the possibility of resuming the various Korean companies projects in Iraq, "according to a statement of the General Secretariat today
He stressed that "the fight against corruption is a priority for the Iraqi government has taken good steps in this area and the need for more urgent measures for the recovery of investment, it is important to adopt discreet consulting firms Kjhat control on the completion of projects and stages of delivery."Finished / 19 Q
https://translate.googleusercontent.c...3-Inai_0qrKfbg
Parliamentary Integrity: "Ahmed al-Maliki," the first convoked the issues of corruption in the previous government
- Agency eighth day
- January 15, 2015, 10:22
- No comments
- 87 Reading
BAGHDAD - ((eighth day))
Source of the Integrity Commission Parliamentary revealed "for the first convoked the Iraqi judiciary is Ahmed al-Maliki, the eldest son of the owners, and is currently being held by the Lebanese authorities for possession of $ 3 billion smuggled from Iraq, stressing that some of the political leaders who will announce their names soon, and described the big their heads.
The source said in a statement reported for ((today Waltham,)), that the Integrity Commission has opened a thorough investigation of all the previous issues, especially concluded armament deals during the reign of al-Maliki, a first files that will be followed up by the body, noting that "the Commission will open all files to limit the phenomenon of corruption regardless of Titles and political positions or government burdened by the current government, security and economic crisis worsening. "
He added that the government has taken it upon themselves to end all outstanding from the previous parliamentary session files of corruption and will prosecute the perpetrators of corrupt and wasting public money and bring them to justice.
The "96" billion dollars is not found in "2013," the budget is not known fate of the Finance Committee and suggested that these amounts have been smuggled abroad or has been spent on the campaign for the owners. (AA)
https://translate.googleusercontent.c...FkTKLtpF0mPIGQ
Judgment as "extreme confinement" for two years against the former director of the Anti-Money Laundering Office
Integrity Commission announced on Thursday that the cover Rusafa court sentenced in absentia to two years imprisonment extreme right of the Director-General of the Office of the former anti-money laundering of the Central Bank of Iraq on charges of irregularities in the bank considers a auction.
The authority said in a statement, "Alsumaria News" received a copy of it, "the court sentenced the convicted Khalid Hameed Cltag severe imprisonment for a term of two years in accordance with the provisions of Article 331 of the Penal Code Alaracat, indicating that" the convict who served in the fight against money laundering in the Bank's Office of the Director CBI had deliberately breached his duties by functional overlooked follow irregularities and abuses that marred the currency auction conducted by the central bank. "
The agency said that "the verdict issued against the convicted that during the period of the first in January 2012 and until the thirtieth of August of the same year, during assume convicted Cltag position in Anti-Money Laundering Office of the Director of the Central Bank of Iraq, the oldest on the commission violates his or her job did not work on the Follow-up to the abuses and irregularities that were carried out by some companies and banks involved in the auction sale of hard currency. "
The Commission noted that "companies and banks, which proved to violating the terms of the auction was the purchase of hard currency from the auction without the introduction of the corresponding goods and materials, which stipulated that the auction instructions to the participants need to adhere to them, and entrusted the task of follow-up to the Office of the fight against money laundering."
The statement Authority said that "the Court found during the course of the primary and the judicial investigation and the available evidence in their possession, including the failure mode convicted in his capacity as general manager of the office a clear mechanism to follow up on what is shown of goods and materials in exchange for money withdrawn from the auction currency as well as the statements of the legal representative of the Bank and the presumption convicted of escape from his face justice that the irregularities committed by Cltag and apply the provisions of Article 331 of sanctions. "
It is said that Article 331 of the Iraqi Penal Code provides that it shall be punished by imprisonment and a fine or one of these penalties: Each employee or assigned to public service committed intentionally violates the duties of his job or fails to perform the work of its intent to damage the interests of an individual or with a view to the benefit of people at the expense of The last, or at the expense of the state.
https://translate.googleusercontent.c...Fq61Gd5Lcd5BNg
Finance Committee: the large number of observations will delay approving the budget
- Agency eighth day
- January 15, 2015, 11:39
- No comments
- 11 Reading
BAGHDAD - ((eighth day))
Parliamentary Finance Committee announced on Thursday, to begin preparing a final report to the draft budget for 2015, stating that he will postpone the adoption
of the budget to the end of this month because of the large number of comments on it.
Said Ahmed al-Haj Committee decision that "the Finance Committee in the House of Representatives began to prepare the final report to the draft general budget
for the year 2015 and received a law Notes political blocs on the budget."
He said al-Hajj that "most of the political blocs agreed to approve the draft budget in the current month, but there are a lot of notes on the articles of the law,"
adding that "it would postpone approval until the end of this month instead of next week."
The House of Representatives ended on Monday (January 12, 2015), the second reading and discussion of the budget law.
https://translate.googleusercontent.c...k6LmtgjA4YUdGw
House of Representatives held its third meeting regarding the budget next Tuesday
Author:
15-01-2015 03:03 PM
Number of Views: 9
Orbit -
Said the second deputy speaker of parliament, Sheikh Mohammad Aram House of Representatives, on Thursday, free business House entire schedule for the next week to vote on the budget law.
Sheikh Mohammed said that "the parliamentary Finance Committee has not completed its report on the final budget, namely, the need for many days to complete it in the time that the Commission is Dúob work to complete, but the economic changes, especially in oil prices prevented completion."
He added that "there is talk about next Tuesday to determine a date for a vote on the state budget, but the next week Sakhalo completely from the vote on the budget, and we are waiting for the completion of the budget to be presented."
It is scheduled that the House of Representatives held its third meeting regarding the budget next Tuesday.
https://translate.googleusercontent.c...WwSY24lMECF4LA
Side of the press conference held by the Minister of Construction and Housing Tariq Kikhany building the city of Karbala today (January 15, 2015)
Kikhany: Ministry of Construction budget was reduced to one-third and we went to the Japanese loan to finance the project in Karbala
Author: TT
Editor: AB, HH
01/15/2015 15:00
Number of Views: 52
Long-Presse / Karbala
Minister of Housing and Construction Tariq Kikhany, Thursday, on the completion of three Taq projects in the province of Karbala, a total cost of more than 33 billion dinars, and confirmed the determination of his ministry implementation of a residential complex comprising thousand housing units in the province, and as pointed out that the financial crisis in the country has reduced budget Ministry to third, detecting an amount of $ 355 million from the Japanese loan to implement the project through the roundabout of Imam Hussein in the province.
Said Tariq Kikhany during a press conference building Karbala Provincial Council, on the sidelines of his visit to the province and meeting with local government, and attended (range Press), that "Karbala differ from the rest of Iraqi cities to receive millions of visitors year-round and is in need of services in all areas, particularly roads and bridges and housing. "
He Kikhany, that "cadres of the ministry completed at this time first-phase project of the road Razzazah toward Ukhaydir fort west of Karbala, a distance of 45 km at a cost amounted to 20 billion dinars," noting that "the maintenance of Karbala, Najaf road project was completed and a distance of more than 30 km at a cost of more than three billion dinars, in addition to the completion of the project approaches the Indian Bridge (20 km east of Karbala), a distance of 8 km and a total cost of more than ten billion dinars. "
He Kikhany, that "the financial crisis in the country, greatly influenced the ministry's plans for 2015 and reduced its budget from trillion and 600 billion dinars to 400 billion dinars," pointing out that "the ministry will not be able to implement a lot of strategic projects in the provinces, including ten large projects in Karbala. "
The Minister of Housing and Construction to, that "the financial crisis called for the ministry to go to take advantage of the report of the Japanese loan for the Iraqi government's $ 500 billion has been allocated $ 355 million of it, to implement the project through the Imam Hussein roundabout which connects the north of Karbala and west will," noting that "the ministry will implement a residential complex project involving thousand housing units in Karbala and within the ministry projects for 2015 and in coordination with the local government to be allocated to the land required for the project. "
He Kikhany, that "the Council of Ministers established a fund for the reconstruction of the cities that was dominated by the organization (Daash) after its liberation," stressing that "the ministry will have a significant role in the reconstruction of these cities, particularly in the field of roads, bridges and government buildings."
He Kikhany, that "Iraq needs about 2.0005 million thousand housing units to eliminate the housing crisis in all the provinces," stressing the need to "put a government program in which a number of relevant ministries involved to eliminate the housing crisis because the Ministry of Housing and Construction not be able to eliminate them alone ".
The Ministry of Construction and Housing carried out and still, many of the highways, walkways, bridges and road maintenance projects in Baghdad and the provinces, while witnessing its sometimes criticized for being late or does not meet specifications or they outsource contractors are not eligible.
https://translate.googleusercontent.c...TxFxYu-taxq3Wg
Jubouri: Iraq is ready to host the parliaments of Islamic states
By Roudao 12 minutes ago
Aspect of the meeting
Roudao - Baghdad
The President of the House of Representatives, Salim al-Iraq's readiness to host the parliaments of the Islamic countries.
A statement by the Office of the Presidency of the parliament, seen by Roudao Media Network, said: "House Speaker Salim al-received in his office on Thursday, Mr. Iyad Amin Madani Secretary General of the Organization of Islamic Cooperation and the accompanying delegation."
Jubouri said during the meeting, Iraq's desire to establish better relations with his brothers and friends, and to enhance the common interests between them, and expressed Iraq's desire to host the parliaments of Islamic countries conference to be held next year.
Jubouri that also explained the difficult circumstances through which Iraq and pass by countries in the region had to build bridges of all relevant, togetherness and cooperation in the face, pointing to the need for Iraq to all forms of support for relief to the displaced and to return them to their homes.
For his part, a civilian, was keen Organization of Islamic Cooperation to support Iraq, especially in the human dimension, explaining that "the organization is working on it according to several levels, either through the Islamic Development Bank and the Islamic or relief organizations or urged Member States to contribute to this side."
The meeting was attended by a number of members of the Committees on Foreign Relations and endowments parliamentary addition to a number of gentlemen adviser to the president of the Council.
https://translate.googleusercontent.c...15zUL1Mkyb8INA
sczin11- OPINION PIECE............AND THE CASE AGAINST MALIKI AND SUPPORTERS CONTINUES, AS THE CORRUPTION STORY CONTINUES TO UNFOLD!! TODAYS UPDATES AT THE BOTTOM OF THIS POST~
WHAT ARE WE WAITING FOR?....WHAT IS THE TRIGGER?Yesterday I made the following post...........
Let's think about this... A couple of weeks ago, news that Chalibi was accusing CBI Governor of having fake certifications for his daughter and himself... (THE CASE BEGINS AGAINST MALIKI'S CREW)... Right before that release, Dr. Shabibi is acquitted and released of charges against him...Maliki and "His Crew", retaliate, by filing appeal against Dr. Shabibi, with the High Court, headed by "His Man", Judge Mahmood... The media propaganda continues, and even the Wall Street Journal publishes article stating Maliki is lining up his ducks, waiting for the right time to take back the government...Hakim comes out with a HUGE statement on Saturday, praising the NEW REGIME, Abadi and the New Iraqi Government, "proves democratization and stability of the government" and Sunday comes back with another HUGE statement about Maliki, "because they have become a minority is impressive and the number does not exceed the fingers of one hand.".....Judge Mahmood, appears to be drifting away from Maliki's court, announces complete discharge of any case against Dr. Shabibi, and states Maliki's son will be the first to be investigated in monetary corruption...Will he turn on daddy?...time will tell...Saudia Arabia, after 25 years GONE from Iraq, RETURNS and is given buildings for the Consulate/embassies and staff...Bank executives are running, and/or being arrested for corruption...News today that Maliki assigned 200 proxy votes in the government while he was in charge of the "caretaker government", the time between the elections on April 30, 2014 and the time Abadi was ratified, and they will all be investigated NOW! Articles daily about the problems with the Banks, the corruption suspected, the funneling of money out of Iraq, the re-capture of some of the missing dollars/dinars, as witnessed by todays article below.... ...... Let's put this all together, although I could go on and on, and think "outside the box.." News is released, not only when they want us to know, not only what they want us to know, BUT, for the most part, AFTER IT HAS OCCURRED... That being said, the case against the Maliki regime, well thought out and planned, appears to be coming to a head...It has been worked on for months, it obviously has been executed, and quite possibly, the final chapter is upon us! There must be "good cause" to bring down the governor of the CBI, by the Council of Ministers...Do you see where this all is going? It is almost time to bring on Dr. Sinan AL Shabibi!
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AND TODAY JANUARY 12, 2015, LOOK AT THE NEWS THAT WAS RELEASED TO THE WORLD.....
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sczin11- Now we begin to hear, the CASE against the Corruption in the CBI.... Stay tuned Folks, IT ONLY GETS JUICIER! WELL, IF THE CORRUPTION EXISTS, AND THEY HAVE THE CASE LAID OUT, WHAT COMES NEXT? THE COM CAN NOW REMOVE THE CURRENT GOVERNOR OF THE CBI, FOR JUST CAUSE..... AND WHO IS WAITING IN THE WINGS?........THE PUBLISHER OF THE MONETARY REFORM, THE ECONOMIC EXPERT WHO WROTE THE PLAN, THE IRAQI PEOPLE'S FRIEND, DR. SINAN AL SHABIBI!....
Parliamentary Integrity: The Council of Representatives will discuss the corruption of the central bank soon
AND
THURSDAY, JANUARY 15, 2015..... WE SEE THE TBI, THE TRADE BANK OF IRAQ, THE BANK STARTED AFTER THE INVASION, WITH JP MORGAN CHASE, (REFERENCE THE STICKY THREAD FOR THE HISTORY AND DETAILS AT THE TOP OF THE CURRENT NEWS FORUM) IN THE BACKING, BY PAUL BREMER AND THE US LED COALITION, BEING ACCUSED OF CORRUPTION...."TBI Kurdistan delivers two billion and 300 million dollars "in a deal marred by corruption."
WE ALSO AT SAME TIME, SEE THAT THE ISX ANNOUNCES THAT TRADE BANK WILL "RESUME" TRADING ON SUNDAY JANUARY 18, 2015...THEY DID NOT RESUME WHEN THE ISX RE-OPENED AFTER THE HOLIDAY...WE SEE THE SUPREME RELIGIOIUS LEADER, SISTANI, RECOMMENDING ANTI CORRUPTION AND A CLEAN PAGE IN THE IRAQI BANKING SYSTEM..." three presidencies in seeking unremitting efforts since officially received positions to eliminate corruption and to open a new page based on common interests and internally relations between Iraq and countries, as recommended by the supreme religious authority in Iraq.".....
AND NOW THE CBI MAKES AN ANNOUNCEMENT THAT MUCH MONEY WAS OBTAINED FRAUDULENTLY INDIRECTLY FROM THE CBI, THROUGH OTHER BANKS, NOT NAMED, STATING BASICALLY THEY ARE CALLING ALL THE LOANS...ARE THEY REFERRING TO THE TBI? SEE ARTICLE BELOW! ...REMEMBER, THIS IS ALL PAST HAPPENINGS..WE ARE BEING TOLD ABOUT IT NOW, AFTER THE FACT... THE TABLE IS SET, THE PUZZLE IS WAITING FOR THE LAST PIECE, THE SHOW IS IN THE FINAL ACT.....
sczin11- HOLY COW! TBI, (TRADE BANK OF IRAQ) HAS HAD TRADING ON ISX, HALTED FOR A PERIOD OF TIME.. THE NEWS TODAY IS THEY WILL RESUME TRADING ON SUNDAY JANUARY 18, 2015!
TBI Kurdistan delivers two billion and 300 million dollars "in a deal marred by corruption."
Trade Bank of Iraq
Author: Editor: br Reporter:Number of Views: 33
01/15/2015 15:36
Tomorrow Press / Baghdad:
A parliamentary source revealed early Thursday, the Commercial Bank of Iraq to grant more than two billion dollars to Iraqi Kurdistan, pointing out that the subject under scrutiny because it was tainted by corruption.
The source told "tomorrow Press", "The Commercial Bank of Iraq has handed over the amount of two billion and $ 300 million to Iraqi Kurdistan in the form of loans, but the Finance Committee in the House of Representatives complained about the subject and the subject took the check and audit results will be announced soon."
The source, who requested anonymity, that "the deal marred by corruption of the financial amounts Audit Committee considered the subject to reveal the facts in front of people."
It is noteworthy that the three presidencies in seeking unremitting efforts since officially received positions to eliminate corruption and to open a new page based on common interests and internally relations between Iraq and countries, as recommended by the supreme religious authority in Iraq.
https://translate.googleusercontent.c...Vqo2Au-o86KaRg
Last edited by sczin11; 01-15-2015 at 09:02 PM.
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