NEWSTIME WITH RCOOKIE and MR. WHITE Wednesday, June 15, 2016
Hutch says(6:41 PM):
FIRST OFF TONIGHT.... I WANT TO ANNOUNCE THAT WE WILL BE DOING A VERY SPECIAL "LIVE" ,.... LET ME REPEAT "LIVE" CALL TOMORROW EVENING AT 7:30 PM CST. THERE WILL ALSO BE A SPECIAL LIVE CALL IN Q AND A SESSION. BE SURE TO BE THERE FOR THAT AND LOOK FOR ANNOUNCEMENTS ALL THRU THE DAY !
subgirl says to magnetlady(6:41 PM):
YVW
Hutch says(6:41 PM):
NEWSTIME RULES APPLY : PLEASE REMEMBER TO PUT UP A ? WHEN ASKING A QUESTION AND THEN WAIT FOR A RESPONSE (PLEASE HAVE YOUR QUESTION READY) OR RESPOND WHEN AN “ANY COMMENTS” IS PUT UP. IT MAKES THE COPIERS JOB EASIER. THANKS !!
NEWSTIME RULES APPLY : PLEASE REMEMBER TO PUT UP A ? WHEN ASKING A QUESTION AND THEN WAIT FOR A RESPONSE (PLEASE HAVE YOUR QUESTION READY) OR RESPOND WHEN AN “ANY COMMENTS” IS PUT UP. IT MAKES THE COPIERS JOB EASIER. THANKS !!
VelmaF41 says to Hutch(6:42 PM):
Thank you Hutch
topgun says(6:42 PM):
?
Hutch says to topgun(6:42 PM):
YES?
topgun says(6:42 PM):
Willo tomorrow's call be recorded?
Hutch says to topgun(6:43 PM):
YES
Hutch says to topgun(6:43 PM):
OK ON WITH THE NEWS
Hutch says(6:43 PM):
LETS ALL WELCOME MR WHITE AND RCOOKIE WITH INCREDIBLE NEWS TONIGHT
daytrader says(6:44 PM):
Yeah!!!
rcookie says(6:44 PM):
GOOD EVENING EVERYONE...WE HAVE A LOT TO COVER TONITE SO LETS GET ROLLIN!!!... THE NEWS IN ALL AREAS IS SMOKIN!!
Hutch says(6:44 PM):
I WANTED TO MENTION THAT TONIGHTS NEWS WILL BE A PRELUDE TO TOMORROWS CALL
SOOOO...... WHATS SHAKING RCOOKIE?
rcookie says(6:45 PM):
YES...THE LATTER PART OF TONIGHT WE WILL START THE PROCESS OF ARTICLE VIII DISCUSSION AND UNDERSTANDING...AND FINISH UP ON CALL TOMORROW....
rcookie says(6:45 PM):
OK SO 1ST OFF....
rcookie says(6:46 PM):
Efforts to create the foundations are basic to start investing
6/16/2016 0:00
BAGHDAD Shokran Fatlawi
counting the International Bureau of Studies and consulting director Tawfiq inhibitor restore the role of the private sector as significant as regards activities producing and development which has implications for the various agricultural, industrial and service sectors, as well as the strengthening of human capital and to address unemployment and poverty.
He inhibitor in his speech for the «morning» on the sidelines of a seminar organized by the progress of policy development institute that to restore the role of the private sector treatment requires identifying economic goals fixed and well thought out and steer the economy towards a competitive economy and the creation of foundations that are basic to initiate investment and infrastructure by providing facilities and logistical support for the sector Acial.wachar inhibitor to the importance of planning for the return of the Iraqi capital to the country and take advantage of them in Iraqi currency support, because the currency 's strength lies in the cash reserve size or precious metal at the World Bank does not actively market linked, accompanied by programs to run the infrastructure areas that the private sector does not want to invest in them mode.
rcookie says(6:47 PM):
SEMINAR BY POLICY DEVELOPMENT INSTITUTE.....RESTORE THE ROLE OF THE PRIVATE SECTOR....IDENTIFYING ECONOMIC GOALS TOWARD A COMPETETIVE ECONOMY...AND CREATE FOUNDATIONS THAT ARE BASIC TO INITIATE INVESTMENT AND INFRASTRUCTURE...BY PROVIDING FACILITIES & LOGISTICAL SUPPORT AND IMPORTANCE OF PLANNING FOR RETURN OF IRAQI CAPITAL TO THE COUNTRY AND TAKE ADVANTAGE OF THEM IN IRAQI CURRENCY SUPPORT....BECAUSE THE CURRENCY'S STRENGTH LIES IN CASH RESERVE SIZE OR PRECIOUS METAL AT THE WORLD BANK....DOES NOT DRIVE THE PRIVATE SECTOR INFRASTRUCTURE INVESTMENT...
STATES THAT THE ROLE OF THE PRIVATE SECTOR IS NOT TO RELY ONLY ON THE STATE...AND IDENTIFIES INVESTMENT LINES OF NATIONAL CAPITAL BE ALLOWED TO MOVE ACCORDING TO IRAQ MARKET NEEDS AND DEMANDS ALONG WITH SUPPORTING INVESTMENT & LABOR LAWS AFFECTING CITIZENS...AND FISCAL POLICY REVIEW AND BANKING PERFORMANCE REVIEWS WITH ACTIVATION OF INSURANCE SUPPORT WHICH WHILE ABSENT HAS CAUSED THE LOSS OF IRAQI CAPITAL OUT OF THE COUNTRY....
AND ABILITY OF STATE TO CAPITALIZE THROUGH INSTITUTIONAL STABILITY AND MITIGATE ECONOMIC CRISIS AND ABILITY TO CREATE STABILITY & CONFIDENCE AS EXPERIENCED IN INDUSTRIAL REVOLUTION IN US AND EUROPE IN THE 40'S...
rcookie says(6:50 PM):
SO THEY ARE TALKING ABOUT INVESTMENT UTILIZING IRAQI CURRENCY DRIVING THE PRIVATE SECTOR AND DRIVING AN INDUSTRIAL REVOLUTION THE LIKES OF THE US AND EUROPE IN 40'S!!!!!!.....
wmawhite says to rcookie(6:50 PM):
.....this is the first time we see that Iraq has reserves on deposit at the World Bank.....
....BECAUSE THE CURRENCY'S STRENGTH LIES IN CASH RESERVE SIZE OR PRECIOUS METAL AT THE WORLD BANK..
rcookie says(6:52 PM):
YES AND THEY ARE IDENTIFYING ESTABLISHMENT OF THE "PILLARS" OF INSTITUTIONS IN IRAQ!!!!!
wmawhite says to rcookie(6:52 PM):
.......the sound of the IMF, WB, EU, etc...
rcookie says(6:52 PM):
AND ALL THE UNDERLYING SUPPORT FROM BANKING & INVESTMENT LAWS....LABOR LAWS...ETC...
AND ACTIVATION OF INSURANCE WHICH WHILE ABSENT CAUSED THE LOSS OF IRAQI CAPITAL OUT OF THE COUNTRY.....
THATS IT.....EVERYONE PASS OUT...
Scotzgirl says(6:55 PM):
Wow!
Hutch says(6:55 PM):
WOW, THATS REALLY BIG
puffdragon says to rcookie(6:55 PM):
8) D
daytrader says(6:55 PM):
(v)
subgirl says(6:55 PM):
thats Huge!!!
rcookie says(6:55 PM):
THEY ARE PROGNOSTICATING AN INDUSTRIAL REVOLUTION IN THE PRIVATE SECTOR!!!!!...
UTILIZING IQD!!!!!!!!!!!!!!!!!!!
wmawhite says to rcookie(6:56 PM):
Here you go..............how will they do this if their currency is of little value>??????
wmawhite says to rcookie(6:56 PM):
.BY PROVIDING FACILITIES & LOGISTICAL SUPPORT AND IMPORTANCE OF PLANNING FOR RETURN OF IRAQI CAPITAL TO THE COUNTRY AND TAKE ADVANTAGE OF THEM IN IRAQI CURRENCY SUPPORT.
rcookie says to wmawhite(6:56 PM):
BINGO!!!!!
wmawhite says to rcookie(6:56 PM):
In order for many of the Iraqis to return they need something of value to return to.
Hutch says(6:56 PM):
ANY QUESTIONS OR COMMENTS ???
NOWS A GOOD TO GET THEM ANSWERED ....
david334 says(6:57 PM):
?
rcookie says to wmawhite(6:57 PM):
AGREED...AND THE SECTOR OPPORTUNITIES AND UNDERPINNINGS THERE AS WELL...
Hutch says to david334(6:57 PM):
GO
Hutch says to david334(6:58 PM):
HELLO ARE YOU THERE ?
david334 says(6:58 PM):
So the industrial infrastructure is going to be built and funded with a fair value IOQ
david334 says(6:58 PM):
Slow typer
Hutch says to david334(6:59 PM):
ALWAYS BE PREPARED
david334 says(6:59 PM):
(H)
rcookie says(6:59 PM):
THE INDUSTRIAL INFRASTRUCTURE COMMENCED BY THE WORLD BANK PLANS TO PRIVATIZE AND RESTRUCTURE THE 192 SOES BACK IN 2006....
david334 says(7:00 PM):
So foriegn and Iraqi projects go out to bid via PIMM and the bids come rolling in at a IOD woth a higher value
wmawhite says to david334(7:00 PM):
The infrastructure are the physical needs as well as the non-physical items such as institutional, i.e. banking, education, medical, ....
rcookie says(7:01 PM):
THEY HAVE DONE FEASIBILITY STUDIES AND ASSESSED THE SOE'S TO DECIDE WHAT STATE ENTERPRISES CLOSE COMPLETELY...WHICH ONE S GET PARTNERED WITH PRIVATE SECTOR AND WHICH ARE POSSIBLE TO MAINTAIN AS PRIVATE ENTITY AND COMPETE IN PRIVATE SECTOR......ITS ON BABY!!!
Hutch says(7:01 PM):
I LIKE IT !
rcookie says(7:02 PM):
PIM AND IDMS IS A SYSTEM OF REVIEWING THE VARIOUS DEVELOPMENT PROJECTS AND REQUISITE FUNDING NEEDS....ELECTRONIC AND TRANSPARENT...
THE LOANS AND PROGRAMS WE READ ABOUT EVERYDAY ARE THE BACKBONE TO THIS AND AWAITING ACTIVATION...
ALSO ONE OF THE MAIN REASONS ABADI JUST CANNED THE 6 BANK MANAGERS...
wmawhite says to david334(7:03 PM):
If Iraq wants the Iraqi doctors to return they need more than just hospitals,They needs medical associations, professional groups, etc.......
Hutch says(7:04 PM):
ANY OTHER QUESTIONS OR COMMENTS BEFORE WE MOVE ON?
rcookie says to wmawhite(7:04 PM):
GREAT POINT MR WHITE!!
Hutch says(7:04 PM):
DONT BE SHY
wmawhite says to david334(7:04 PM):
Institutions........are not necessarily buildings.......
david334 says(7:04 PM):
? value brings all together
wmawhite says to david334(7:05 PM):
good question
rcookie says to wmawhite(7:05 PM):
AGREED....64,000 QUESTION...
angus says(7:05 PM):
it all goes hand in hand?
_firefly_ says(7:06 PM):
The establishment of private health institutions of the Federal Law No. (25) for the year 2015 Arabic Original Document 17 Apr 2016
wmawhite says to angus(7:06 PM):
When you live in a country that already has its institutions established it is difficult to imagine a country starting all over again.
rcookie says(7:07 PM):
YES....AND STARTS WITH FISCAL RESPONSIBILITY AND FULL BUDGET EXECUTION.....WHICH HAS NEVER HAPPENED UNTIL NOW.....NEVER!!...
Hutch says(7:08 PM):
THAT IS SUCH GREAT NEWS !
Hutch says(7:08 PM):
WHAT IS NEXT ON THE NEWS AGENDA FOR TONIGHT?
rcookie says(7:08 PM):
OK ....HERE WE GO...
rcookie says(7:08 PM):
Kurdistan: ready for a new oil deal with Baghdad against the billion dollars a month
Wednesday June 15, 2016 08:26
Alsumaria News / Baghdad
It announced the Regional Government of Kurdistan , on Wednesday, that the Kurds of Iraq are ready to conclude an agreement with the central government in Baghdad on increasing oil exports if guaranteed them a monthly income of one billion dollars.
A spokesman for the Kurdistan Regional Government Sven Dizayee in a press statement to Arbil , " The Kurdish authorities would be willing to sell oil on the road to Baghdad if I got on a monthly billion share of the federal budget."
Vice is a proposal to the province over a billion dollars "blackmail" and an expert prepared "unrealistic"
Abdul-Mahdi calls to return to the oil agreement with the provincial budget or make them last
The central government in Iraq halted oil exports in March through a Kurdish pipeline to put pressure on local authorities to resume talks on oil revenue sharing agreement.
And usually it issued NOC run by the Iraqi government of 150 thousand barrels per day through the pipeline that connects to the Turkish port of Ceyhan on the Mediterranean Sea.
wmawhite says to rcookie(7:09 PM):
Sweet..............they are continuing to talk............they made it to step #1........
rcookie says(7:09 PM):
SO....KURDS ON BOARD FOR NEW OIL DEAL...WHERBY GOI GIVES THEM 1 BILLION AND THEY AGREE TO RAMP PRODUCTION AND PROCESS THROUGH BAGHDAD....ALL FOR A MEASLY 1 BILLION PER MONTH!!...
_firefly_ says(7:10 PM):
Lots more than just a billion involved !
daytrader says to rcookie(7:10 PM):
Interesting. At the current budget, that's less than the 17%.
wmawhite says to rcookie(7:10 PM):
Do you think that just maybe the Kurds might think that they are being left behind????
rcookie says(7:12 PM):
UNDERSTAND WITHOUT THE UST AND CBI AND INT'L AGENCIES AUDITING...MONITORING...PRODUCTION RECORDS...BANK RECORDS..THIS WOULD NOT BE A CONSIDERATION....
wmawhite says to rcookie(7:12 PM):
All of those folks are now looking over Erbil shoulders....
Hutch says(7:13 PM):
EVERYONE SPEAKING THE SAME LANGUAGE NOW, IT SEEMS
rcookie says(7:13 PM):
THEY HAVE COOKED THE BOOKS AND PRODUCTION FOR YEARS....THE CBI BEING THERE WITH ALL OF THOSE AGENCIES CREATES A TOTALLY DIFFERENT TRANSPARENT LANDSCAPE!!!
david334 says(7:13 PM):
?
wmawhite says to rcookie(7:13 PM):
The Kurds might feel as though they are being relegated to second string..........
Hutch says to david334(7:13 PM):
HANG ON....
david334 says(7:14 PM):
yep
rcookie says(7:14 PM):
AGREED...UNTIL THE PRIVATE SECTOR STARTS FLOWING AND THEY WILL BE PERCHED ON THRONES....JUST AS IN BASRA!!..
Hutch says to david334(7:14 PM):
GO
Hutch says(7:15 PM):
ANY OTHER QUESTIONS OR COMMENTS? ANYONE ELSE?
david334 says(7:15 PM):
The UST playing the control role is very good because they control the oitcome and the power. Blocking Riussia Iran etc
wmawhite says to rcookie(7:15 PM):
Baghdad had a preety good draft this year and the Kurds are not guranteed a starting job this year.
rcookie says to wmawhite(7:16 PM):
LOL....THAT IS AWESOME!!...
rcookie says to wmawhite(7:16 PM):
OK 1 MORE BEFORE THE ARTICLE VIII PRELUDE..
wmawhite says(7:16 PM):
(H)
david334 says(7:17 PM):
?
Hutch says to david334(7:17 PM):
GO
david334 says(7:17 PM):
So all have to follow the script or no money
david334 says(7:17 PM):
The new ME
wmawhite says to david334(7:18 PM):
Basically,......YES
rcookie says(7:18 PM):
AND PERFECT LEAD IN DAVID.....
Hutch says to rcookie(7:18 PM):
OK 1 MORE BEFORE THE ARTICLE VIII PRELUDE..
rcookie says(7:18 PM):
DOES THIS LOOK LIKE NEW ME PICTURE....
rcookie says(7:18 PM):
An extraordinary meeting of GCC finance ministers tomorrow in Jeddah
Economy - Wednesday, June 15, 2016, 14:08 / 240 Show
Hold the finance ministers of the GCC tomorrow evening an extraordinary meeting in Jeddah to discuss the activation of economic integration which, in addition to the value-added tax and the selectivity of the GCC tax.
General Secretariat of the Council said in a statement today: «The meeting will address a number of topics, the most important of the recommendations submitted by the joint meeting of the commission agents Ministries of Finance and the Committee on the heads and directors of tax departments draft conventions unified VAT tax and selectivity of the Gulf Cooperation Council. The meeting will also discuss many of the proposals made by the GCC countries on activating cooperation and economic integration among member states. »
And agreed to the GCC countries to adopt a unified framework for the application of VAT by 5 percent to promote the sustainability of financial flows to governments, it is expected to apply the tax on December second / January 2018 or 2019 at the latest.
puffdragon says to rcookie(7:21 PM):
Got smelling salts !!
david334 says(7:22 PM):
****e apostates
rcookie says to jimplants(7:22 PM):
GREAT POINT JIM!!....
david334 says(7:22 PM):
?
Hutch says(7:23 PM):
ALL GREAT COMMENTS, ARE THERE ANY OTHER QUESTIONS OR COMMENTS ?
david334 says(7:23 PM):
The GCC has been Sunni
wmawhite says to david334(7:23 PM):
Is Kuwait a member?
dale says(7:23 PM):
Rcookie, Mr. White : You have had us focus on what we do know .......... The IMF stated in October 2015 that "Iraq will enter thr Global Economy Markets in the first half of 2016". On one of your calls you guys talked about "The Three Amigos" ......... which I believe consists of Abadi, Saleh and Shabibi. in addition to the exciting articles you've brought daily I was trying to think back to anything else that might be a positive clue for what we're looking for ...... it seems like last year in June we were talking about when Shabibi was the CBI Governor his plan was to have the programmed rate for the first half of the year and then the new rate the second half of the year. IYO does this have any relevance to the current situation?
wmawhite says to david334(7:23 PM):
Kuwaiti is Shia
david334 says to wmawhite(7:24 PM):
yes
david334 says to wmawhite(7:24 PM):
I miss spoke I thought it was a saudi club
dale says(7:25 PM):
Hutch ... sorry you guys would have waited forever if I put a ? first....
Hutch says to dale(7:25 PM):
ITS ALL GOOD
wmawhite says to dale(7:25 PM):
Sorry........I never saw where Dr. Shabibi stated that?
What is your question?
Let me try again
dale says(7:26 PM):
Sorry I thought I had saw that ... maybe I'm wrong .......
wmawhite says to dale(7:27 PM):
Lets not mix what we do not know about Dr. Shabibi and what we do know from the IMF.
IMO,...........Iraq is now engaged within the global Economy markets...........
dale says(7:27 PM):
Wmawhite : Sure ....
wmawhite says to dale(7:27 PM):
In fact....look here
rcookie says to wmawhite(7:27 PM):
AGREED!!.
dale says(7:27 PM):
Yup
wmawhite says(7:28 PM): This article is more evidence that Iraq (the CBI, GOI, and its’ banks) have entered the global economy markets.
wmawhite says(7:28 PM): BAGHDAD - Qusay, Monzer
Search Director General of the Trade Bank of Iraq, Faisal Sam Alheims with Conception Flannery, Managing Director of the Office of Citibank in Iraq examine how which will develop and strengthen banking relations and financial exchanges between Citibank and the Trade Bank of Iraq, as well as lifting the barriers that stand in the way of traffic and movement of money Iraqi around the world). He said a statement received (time) yesterday that (the meeting between the two sides is part of the bank's policy of developing relations with major international banks and financial institutions around the world and the recruitment and use these relations to serve the customers the bank and the provision of advanced banking services on a global level and to meet the development and reconstruction requirements the reconstruction of areas affected by the terrorist attacks).
wmawhite says(7:28 PM): Read this artice and then..........
wmawhite says(7:29 PM): Be sure to read it....
wmawhite says(7:29 PM): So, my question to each of you is this; If Iraq was not part of the global economy markets, why would one of the world’s leading banks, Citibank, being discussing with the Trade Bank of Iraq (TBI) about now to............. “develop and strengthen banking relations and financial exchanges between Citibank and the Trade Bank of Iraq”……….and “lifting the barriers that stand in the way of traffic and movement of money Iraqi around the world).” ?????
dale says(7:29 PM):
Wmawhite : Ok
wmawhite says(7:29 PM): “movement of money Iraqi around the world).”…this ought to read…………the “movement of the Iraqi money around the world.
rcookie says to wmawhite(7:30 PM):
AND ISNT THE TBI THE BANK THAT JUST RAISED ITS CAPITAL FROM 500 BILLION TO 1.75 TRILLION.....
wmawhite says(7:30 PM):
Yep
rcookie says to wmawhite(7:30 PM):
HMMMMMMM
Hutch says(7:30 PM):
THEY ARE SETTING UP.....
wmawhite says(7:30 PM):
Come on folks
rcookie says to wmawhite(7:30 PM):
REALLY!!!!!!!
wmawhite says(7:31 PM):
“lifting the barriers that stand in the way of traffic and movement of money Iraqi around the world).” ?????
jimplants says(7:31 PM):
HISTORY
Hutch says(7:31 PM):
THIS IS BIGGER THAN HUGE !
rcookie says to wmawhite(7:31 PM):
THIE STUFF IS AWESOME!!!!..AND IN INK!!..
subgirl says(7:31 PM):
that is BIG!!!!! WOW!!! LOVE IT!!!
wmawhite says(7:31 PM):
This is Citibank..................which I believe is aligned with the TBI......
Hutch says to jimplants(7:31 PM):
(y)
clay01 says(7:31 PM):
"Show Me the Money"
david334 says(7:31 PM):
amazing i cant believe it
wmawhite says(7:32 PM):
The trade Bank of Iraq which is theCBI's arm that reaches outside of Iraq.
rcookie says to wmawhite(7:32 PM):
AND SPEAKS TO EXACTLY WHAT THE 1ST ARTICLE REFERS TO CREATING THE FOUNDATIONS OF INVESTMENTS...
wmawhite says(7:32 PM):
“lifting the barriers that stand in the way of traffic and movement of money Iraqi around the world).” ?????
david334 says(7:32 PM):
Citi forecasts a trillion $ GDP by 2020
Hutch says(7:32 PM):
THEY ARE TELLING US.... POINT BLANK !
rcookie says to david334(7:33 PM):
WHICH ACCORDING TO THEIR NDP IS CONSERVATIVE!!
Hutch says to wmawhite(7:33 PM):
MAYBE THEY ARE IN SHOCK AND IN AWE !
wmawhite says(7:33 PM):
Would you be more excited if I told you that I stayed at a Holiday Inn Express
popeye7 says(7:33 PM):
Fantastic news...
ronda says(7:33 PM):
were trying to catch our hats
sarahrose says(7:34 PM):
AMEN (lol)
Hutch says(7:34 PM):
ANY QUESTIONS OR COMMENTS ON THIS BOMBSHELL?
popeye7 says to wmawhite(7:34 PM):
They have a pretty good breakfast..
jimplants says(7:34 PM):
ONE REGRET I CAN NOR HEAR THE CALLS MY HEARING ONLY PICKS UP ABOUT ONE THIRD OF ANY RECORED CONVERSATION
willie60 says(7:34 PM):
NDP?
wmawhite says(7:34 PM):
In downtown Baghdad???? and exchanged at................????
rcookie says to ronda(7:34 PM):
HI RONDA.....I HOPE SO!!!!!
NATIONAL DEVELOPMENT PLAN...
jimplants says(7:34 PM):
BUT I DO BELIEVE I KNOW WHAT YOU WILL BE SAYING
willie60 says(7:35 PM):
TY
rcookie says to willie60(7:35 PM):
diagyAAAE says to rcookie(7:35 PM):
I WOULD SAID NATIONAL DEVELOPMENT PARTY LOL
ronda says(7:35 PM):
the news is so great I cant believe its finally being told
wmawhite says(7:35 PM):
thats all folks!!!!
Hutch says(7:35 PM):
REMEMBER THAT THIS IS A INTRODUCTION TO TOMORROWS CALL
rcookie says to willie60(7:35 PM):
OK.......
ronda says(7:35 PM):
wma white i worked as gm at holiday in tough job
wmawhite says to ronda(7:36 PM):
It was never a secret to begin with........it was those gurus saying that that were full of XXXXXX
jimplants says(7:36 PM):
THANKS FOR THE HEADS UP THOUGH
wmawhite says to ronda(7:36 PM):
Great commercials though.
david334 says(7:36 PM):
Just amazing work I am stunned . You qown this collosal trade
ronda says(7:36 PM):
only you guys your the best
Hutch says(7:36 PM):
OK ONE MORE REMEMBER WE ARE IN NEWSTIME
rcookie says to willie60(7:36 PM):
HERE IS ONE LAST TIDBIT BEFORE TOMORRROW...
rcookie says(7:37 PM):
HOW MANY THINK THAT IRAQ HAS A LAUNDRY LIST OF INITIATIVES BEFORE ACCEPTING ARTICLE VIII OBLIGATIONS...
mainegirl says(7:38 PM):
not I
daytrader says to rcookie(7:38 PM):
NOPE
sarahrose says(7:38 PM):
not me
david334 says(7:38 PM):
had one
subgirl says(7:38 PM):
nor me!
hunter59 says(7:38 PM):
Hope not
popeye7 says(7:38 PM):
Thank you very much guys... I do not think they have a laundry list..
rcookie says(7:38 PM):
OK SOMETHING TO CHEW ON FOR TOMORROWS CALLED AS A BACKDROP!!..
THIS IS AN IMF PRESS RELEASE FROM 2013 THAT OUTLINES A BREACH OF OBLIGATIONS UNDER ARTICLE VIII...AND IT DEALS WITH SECTION 5
IMF Executive Board Reviews Noncomplying Purchase by Iraq and Breach of Obligations Under Article VIII, Section 5Press Release No. 13/464 November 21, 2013
ANYONE KNOW HOW YOU CAN GET KICKED OUT OF A CLUB YOU NEVER BELONGED TO.....
Hutch says(7:40 PM):
GOOD QUESTION !
risk says(7:40 PM):
It's almost like citi-bank is taking them public
rcookie says(7:40 PM):
SO THE LAST SBA THEY WERE IN INITIATED IN 2010....
puffdragon says to rcookie(7:40 PM):
Whats the answer ?
david334 says(7:41 PM):
I know whats coming . They were never out in good standing
rcookie says(7:41 PM):
THEY ALREADY ACCEPTED ARTICLE VIII OBLIGATIONS IN 2013 AND BREACHED AND THIS IS THE STORY...
wmawhite says to david334(7:41 PM):
very perceptive....
david334 says(7:42 PM):
Six years later the checks about to clear
rcookie says(7:42 PM):
AND COINCIDENTALLY...WHAT IS IRAQ ABOUT TO ENTER INTO WITH IMF.....
sarahrose says(7:43 PM):
what does SBA stand for again????
popeye7 says(7:43 PM):
Standby Agreement...
david334 says(7:43 PM):
Yeahhhhhhhh
rcookie says(7:43 PM):
As the authorities have taken appropriate corrective measures since the purchase in March 2011, the Executive Board granted a waiver for the nonobservance of one continuous performance criterion (PC) and determined that no further remedial action is required in connection with its obligation to provide information under Article VIII, Section 5.
SO THE IMF EXECUTIVE BOARD GRANTED A NON COMPLIANCE WAIVER...AND CONCLUDED NO FURTHER REMEDIAL ACTION WAS NECESSARY....
david334 says(7:44 PM):
I cant believe it yahooooo
wmawhite says(7:44 PM):
and determined that no further remedial action is required in connection with its obligation to provide information under Article VIII, Section 5.
cricket22 says(7:44 PM):
Hi guys!
popeye7 says(7:44 PM):
That is awesome news... Oh my..
rcookie says(7:44 PM):
READ....
The noncompliant disbursement arose as a result of misreporting on the observance of the standard continuous PC for the nonimposition or intensification of restrictions on the making of payments and transfers for current international transactions.
wmawhite says(7:44 PM):
no further remedial action is required in connection with its obligation
cricket22 says(7:44 PM):
What have I missed?
david334 says(7:44 PM):
And BGG Group educated us along the way for freeee
Hutch says to cricket22(7:45 PM):
WE ARE IN NEWSTIME
wmawhite says(7:45 PM):
It had met its obligation back when?????????????
cricket22 says to Hutch(7:45 PM):
Oh ok.. Thanks
david334 says(7:45 PM):
2013
ronda says(7:45 PM):
2013
rcookie says(7:45 PM):
October 2012, staff learned that during the last quarter of 2010 the Central Bank of Iraq (CBI) issued three circulars on the daily foreign exchange auctions that gave rise to exchange restrictions subject to IMF jurisdiction. The circulars: (a) introduced maximum limits on the availability of foreign currency cash for individuals, (b) introduced limits on the availability of foreign currency cash through the CBI foreign exchange auctions to money transfer companies and exchange bureaus, and (c) introduced and (d) later intensified a requirement to present a tax clearance certificate for firms to transfer funds in excess of certain amounts purchased through the CBI auctions.
HMMMMM ANYONE TAKE A GUESS WHY THEY WERE SLOW AND RESISTANT TO REPORTING ON AUCTION ACTIVITIES AND ACCOUNTABILITY....BIG SHOCKER RIGHT.....
SO MISREPORTING OR REPORTING ALTOGETHER....
david334 says(7:46 PM):
Whats his name
rcookie says(7:46 PM):
The restriction on the availability of foreign currency cash for individuals was temporary, as the CBI repealed it in August 2011. The authorities have taken appropriate corrective action by removing the remaining restrictions in the course of 2013. On this basis, the Executive Board granted a waiver for the nonobservance of the PC.
hunter59 says(7:46 PM):
Moneybags
rcookie says(7:46 PM):
THESE ARE THE RESTRICTIONS THEY REFER TO IN THE IMF LOI/MEFP/YECH MOU.......
THESE ARE THINGS THEY WENT THROUGH IN 2011 THAT WERE IDENTIFIED AND ADDRESSED...HOWEVER ARE PART OF THE ARTICLE 8 OBLIGATIONS AND PROCESS....
wmawhite says to rcookie(7:47 PM):
paragraph #19....???
rcookie says(7:47 PM):
THEY REMOVED THE REMAININ RESTRICTIONS IN 2013^^^^
The Executive Board also found that the inaccurate reporting on the observance of the PC also gave rise to Iraq’s breach of its obligations under Article VIII, Section 5, of the IMF’s Articles of Agreement, which requires member countries to furnish such information as the Fund deems necessary for its activities, including information that is necessary to assess observance of PCs. The CBI introduced the necessary changes in its procedures in order to share circulars with the IMF in a timely manner and regularly publish the circulars on the CBI website. In view of the commitment by Iraq to provide timely and accurate data to the IMF on the exchange system in the future, the Executive Board decided not to require any further remedial action in connection with the breach of obligations under Article VIII, Section 5.
david334 says to rcookie(7:48 PM):
You told us that over and over but no one lisyen including me
wmawhite says to rcookie(7:48 PM):
Article 8 obligatios are not a "all" or "nothing" status..........
rcookie says(7:48 PM):
SO TO SUM UP......
wmawhite says to rcookie(7:48 PM):
obligations
rcookie says(7:49 PM):
SO THEY WERE FOUND IN VIOLATION...SPANKED AND CORRECTED..
david334 says to rcookie(7:49 PM):
You told us that
rcookie says(7:49 PM):
AND FOR THOSE INTERESTED...HERE IT IS..
Section 5.Furnishing of information(a) The Fund may require members to furnish it with such information as it deems necessary for its activities, including, as the minimum necessary for the effective discharge of the Fund’s duties, national data on the following matters:
(i) official holdings at home and abroad of (1) gold, (2) foreign exchange;(ii) holdings at home and abroad by banking and financial agencies, other than official agencies, of (1) gold, (2) foreign exchange;(iii) production of gold;(iv) gold exports and imports according to countries of destination and origin;
(v) total exports and imports of merchandise, in terms of local currency values, according to countries of destination and origin; (vi) international balance of payments, including (1) trade in goods and services, (2) gold transactions, (3) known capital transactions, and (4) other items;
wmawhite says to rcookie(7:50 PM):
We have been lead to believe that there would be fire works with a stage and big screen TVs too announce that the CBI was now Article 8...................those gurus have been wrong all this time.
(vii) international investment position, i.e., investments within the territories of the member owned abroad and investments abroad owned by persons in its territories so far as it is possible to furnish this information;(viii) national income;
(ix) price indices, i.e., indices of commodity prices in wholesale and retail markets and of export and import prices;(x) buying and selling rates for foreign currencies;(xi) exchange controls, i.e., a comprehensive statement of exchange controls in effect at the time of assuming membership in the Fund and details of subsequent changes as they occur; and(xii) where official clearing arrangements exist, details of amounts awaiting clearance in respect of commercial and financial transactions, and of the length of time during which such arrears have been outstanding.
(b) In requesting information the Fund shall take into consideration the varying ability of members to furnish the data requested. Members shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed. Members undertake, however, to furnish the desired information in as detailed and accurate a manner as is practicable and, so far as possible, to avoid mere estimates.(c) The Fund may arrange to obtain further information by agreement with members. It shall act as a centre for the collection and exchange of information on monetary and financial problems, thus facilitating the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.
david334 says to rcookie(7:51 PM):
The chinese cant do that
rcookie says(7:51 PM):
SO THAT IS SECTION 5 OF ARTICLE VIII'S 7 ARTICLES...AND THE ONE THAT IRAQ WAS IN BREACH OF IN 2011....
THE OTHER ARTICLE THAT EXPERTS SAY IS TO BE CHALLENGING IN MAINTAINING COMPLIANCE ON...ESPECIALLY IN TODAYS ENVIRONMENT IS ARTICLE 3....
Section 3.
Avoidance of discriminatory currency practicesNo member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund. If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply.
rcookie says(7:53 PM):
AND SINCE WE KNOW THEY REMEDIED IN 2013...........
wmawhite says to rcookie(7:53 PM):
We have been lead to believe that there would be fire works with a stage and big screen TVs to announce that the CBI was now Article 8...................those gurus have been wrong all this time.
rcookie says to wmawhite(7:54 PM):
AGREED!!
Hutch says to wmawhite(7:54 PM):
YEP
david334 says to rcookie(7:54 PM):
they have been decapitated and dumped in the fraudster bin
rcookie says(7:54 PM):
SO THEY ARE LOOKING FOR IMPLEMENTING REMOVAL OF LIMITATIONS ON TRANSFER OF INVESTMENT PROCEEDS THAT GIVE RISE TO EXCHANGE RESTRICTIONS....PART OF THEIR TECNICAL ASSISTANCE RECOMMENDATION....
THAT HAVE OUTLINED WHAT IRAQ MUST DO TO CREATE A FAVORABLE BUSINESS CLIMATE BY MAKING INTERNATIONAL TRANSACTIONS RESTRICTION FREE...."NON MANIPULATED" OR INFLUENCED....REMEBER THE LANGUAGE IN THE ARTICLE 8 THAT WAS JUST BROUGHT IN...
wmawhite says(7:55 PM):
Folks,......Article 8 and the obligations is not an "all" or "nothing" agreement with the IMF.
rcookie says(7:55 PM):
NO THEY ARE NOT SPEAKING ABOUT RATES...BUT RATHER...THE NECESSARY ENVIRONMENT FOR THE RATE TO BE USEFUL IN CONDUCTING AND TRANSACTING INTERNATIONAL BUSINESS.....
Hutch says to rcookie(7:56 PM):
THE NECESSARY ENVIRONMENT FOR THE RATE TO BE USEFUL IN CONDUCTING AND TRANSACTING INTERNATIONAL BUSINESS..... WOW!
rcookie says to wmawhite(7:56 PM):
GREAT POINT AND SOOOOOO RIGHT MR WHITE!!
david334 says to rcookie(7:56 PM):
Setting the guidelines so the rate works
wmawhite says(7:56 PM):
Not all 185 members of the IMF are perfect in meeting those requirements all of time.
rcookie says to wmawhite(7:56 PM):
THATS RIGHT....WOULD GOOD WOULD THE RATE BE IF THE UNDERPINNINGS NOT IN PLACE...
wmawhite says(7:57 PM):
Even the USA receives periodic Article 4 consultations during the year.
Hutch says to wmawhite(7:57 PM):
NOT A ONE SIZE FITS ALL.... IS THAT WHAT YOU ARE SAYING?
david334 says(7:58 PM):
This has been in the works despite the bad guys for years. Someone in the GOI and CBI desveres credit
wmawhite says(7:58 PM):
How well a country does in meeting its obligations is a public matter and the rest of the world knows what those issues are............and those countries decide whether or notto do business with that country.
Hutch says(7:59 PM):
SUCH EXCITING NEWS !!!! INCREDIBLY INFORMATIVE !!! DOES ANYONE HAVE ANY QUESTIONS OR COMMENTS? REMEMBER THAT TONIGHT IS A PRELUDE TO TOMORROWS CALL ! ANY ? OR COMMENTS?
rcookie says(7:59 PM):
YES ...LIKE YOUVE BEEN HEARING HERE AT DU AND NOWHERE ELSE...THE IMF LOI'S HAVE BEEN LNGOING SINCE 2011.....
Hutch says(8:00 PM):
ANY ? OR COMMENTS?
rcookie says to wmawhite(8:00 PM):
ITS NOT HYPE...OR SPECULATION OR GUESSING...
gordon11 says(8:00 PM):
Thank you for the solid facts
Elane says(8:00 PM):
I must say this is the MOST comprehensive discussion... Ive ever read... in 6 years. Much thanks!
david334 says to subgirl(8:00 PM):
Okay
SRW says(8:00 PM):
?
rcookie says to wmawhite(8:00 PM):
ITS A METICULOUSLY ORCHESTRATED ACTION PLAN TO REINVENT A NATION
Hutch says to SRW(8:00 PM):
GO
rcookie says to Elane(8:01 PM):
(handshake)
daytrader says(8:01 PM):
Great job connecting the dots. Thanks
Hutch says(8:01 PM):
SRW ARE YOU THERE?
SRW says(8:02 PM):
So, past P.M. Mailiki messed all this up and Iraq had to wait all these years?
rcookie says to daytrader(8:02 PM):
PAINT BY NUMBERS...
nick says(8:02 PM):
excellent news rcookie and wmawhite thank you
rcookie says to daytrader(8:02 PM):
THEY WERE FAR TOO PREOCCUPIED WITH STEALING AUCTION $$$$$ AND DFI FUNDS
wmawhite says to SRW(8:02 PM):
think about all that has been accomplished just recently.........
daytrader says(8:02 PM):
Methinks some of the numbers were hidden in plain site, but you two found them.
wmawhite says to SRW(8:03 PM):
IMO<............the CBI was ready, but not the rest of the country.........
SRW says(8:03 PM):
Thanks!!
rcookie says to daytrader(8:03 PM):
MR WHITE ..HAS THE MAGNIFYING GLASS...PIPE AND SHERLOCK CAP...
daytrader says(8:04 PM):
Gotta see that pic.
wmawhite says(8:04 PM):
Money money is on Liver and Onions.....with gravy.
rcookie says to david334(8:04 PM):
YVW..
Hutch says(8:05 PM):
JUST FOR YOU MR WHITE LOL
rcookie says(8:05 PM):
BE DEE..BE DEE..BE DEE THATS ALL FOLKS.....
jimplants says(8:05 PM):
THANK YOU BOTH BE BLESSED
Hutch says(8:05 PM):
THANK YOU RCOOKIE AND MR WHITE FOR A GREAT NEWSTIME AND THANK YOU ALL FOR PARTICIPATING !
THANK YOU MAGNETLADY FOR COPYING AND COLORING !!
PLEASE EVERYONE… PLEASE REMEMBER TO KEEP SHEILA AND HER FAMILY IN YOUR PRAYERS.
HAVE A GREAT EVENING EVERYONE !!!! REMEMBER TOMORROWS CALL AND HAVE YOUR QUESTIONS READY !! GOOD NIGHT EVERYONE !!!
rcookie says to jimplants(8:05 PM):
GOOD NITE JIM!!....THANK YOU
Elane says(8:05 PM):
ITS A METICULOUSLY ORCHESTRATED ACTION PLAN TO REINVENT A NATION
wmawhite says to Hutch(8:05 PM):
thanks............a little late for that meal...........lol
david334 says to Hutch(8:05 PM):
Great job Hutch
Elane says(8:05 PM):
You couldnt PAY anyone for this education!
david334 says to Elane(8:06 PM):
So true
VelmaF41 says to rcookie(8:06 PM):
I have never had gravy with liver and onions.
rcookie says to jimplants(8:06 PM):
THANKS ALL!!....MR WHITE...HUTCH...MAGS....SUBBY!!
Hutch says(8:06 PM):
GREAT JOB RCOOKIE AND MR WHITE !!!
rcookie says to jimplants(8:06 PM):
GREAT QUESTIONS AND CONVERSATION....
VelmaF41 says(8:07 PM):
Thanks to all the great mods and copiers and news hounds. See you back here soon! (F) It just gets better and better.(v)
rcookie says(8:07 PM):
HERE IS A LINK FOR THE OECD...VALUE ADDED TAX INFO..
subgirl says to Hutch(8:10 PM):
Thank you hutch for all you do here!!! BEHIND THE SCENES!!!! YOU ROCKED TONIGHT!!!! thank you for being such a dedicated MOD in here too!!!!
SRW says(8:11 PM):
Thank All of the DU team for your info and time you spend with us!!
Hutch says to subgirl(8:11 PM):
THANKS SUBS !
subgirl says to Hutch(8:11 PM):
VYW
daytrader says to rcookie(8:11 PM):
So the MOU/LOI was a document to bring them BACK into compliance with Article VIII.
That was a question, not a statement.
Last edited by magnetlady; 06-16-2016 at 01:24 AM.
Re: NEWSTIME WITH RCOOKIE and MR. WHITE Monday, June 15, 2016
Hi xd !! As long as it pertains to the subjects. Do you go into the du chatroom? At this time, it may be best to go there for what you may be looking for. Welcome to du !
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