subgirl says(6:37 PM):
Dear Heavenly Father, We come before you with humble hearts. We are so thankful for all you have given to us. We are very thankful for the place we are in to receive your many Blessings we are about to get... Lord, we pray for those who are sick, weak, and heavyladen, We pray Lord you would please remove cancer from those who have it, We are thankful for the promises that are found in your Word that we can claim as ours. Now Lord, please be with BGG, rcookie, Mr White, and Hutch as they lead us in our Newstime tonight. Give us all the understanding that we need to clearly know what is being taught tonight... In Jesus' name, AMEN and AMEN!!! :)
Hutch says(6:41 PM): OK WELCOME TO NEWSTIME THAT WAS A BEAUTIFUL PRAYER SUBBY GOOD EVENING MR WHITE AND RCOOKIE
wmawhite says(6:41 PM): GE
Hutch says(6:41 PM): WHAT DO YOU GUYS HAVE FOR US TONIGHT ?
rcookie says(6:43 PM): OK...SO MR WHITE....IS GOING TO LEAD OFF WITH A DOOZY TONITE...
wmawhite says(6:43 PM): I want to start with this article:
wmawhite says(6:43 PM): Iraq new 500-dinar note with Kurdish confirmed Jul 05, 2016 07:11 AM Category: Middle East For more than five years, the Central Bank of Iraq has planned to remove three zeroes from the banknotes and add Kurdish text. To date the efforts to redenominate the dinar have failed to come to fruition, but as this note demonstrates, the addition of Kurdish text is underway, with the language first appearing on the 50,000-dinar note (B356) introduced on 11 November 2015.
Like B348, but Kurdish text added to lower left and upper right on back, new date (٢٠١٥ - ١٤٣٦), and new signature (Ali Mohsen Ismail).
Courtesy of Hartmut Fraunhoffer (Banknote-Online) and Musaab Ibrahim.
wmawhite says(6:43 PM): Iraq new 500-dinar note with Kurdish confirmed
wmawhite says(6:44 PM): Iraq new 500-dinar note with Kurdish confirmed
wmawhite says(6:44 PM): After reading this article/announcement, I was sitting on the porch drinking my coffee and consulting with my wife, and I asked why would the CBI spend $millions on a note that has a current equivalent value of $0.43.
wmawhite says(6:44 PM): Currently, this note has no place within the market place, similar to the former 50 IQD note. Yet, they spend millions to make the Kurds happy based upon promises made years ago. IMO, this is evidence that a shift in the value of the Iraqi Dinar is near because this note will be of no value in the marketplace unless the price of product is reduced dramatically. This will happen when the value of the IQD increases dramatically OUTSIDE of Iraq.
wmawhite says(6:45 PM): After having my coffee, I saw a post on a particular website that II had to comment on. Here is the post along with my comments:
wmawhite says(6:45 PM): 7-4-2016 Newshound Guru KXXXX Article: "Iraq new 500-dinar note with Kurdish reported" The CBI has to continually replace old notes as they wear out, whether they want to or not. If the note is in circulation, they have to take care of it. If they didn't, citizens would lose even more confidence in the dinar and turn to the dollar. Its all part of monetary policy and do what they can to keep the citizens wanting and using the dinar which keeps demand on the dinar. Upgrading features, specification, etc. is all part of that process. We should not read anything more into this than that.
wmawhite says(6:46 PM): Now........for my comments......
wmawhite says(6:46 PM): Basically, Guru XXXX is correct. Central banks do replace their worn out and torn notes. However, what XXXX does not acknowledge is this simple truth. The 500 IQD note does not have a role in the local market place. Its equivalent value is $0.43. The Iraqis are not running around using these notes and wearing them out by over using them. Therefore, there is not a need to replace them as if they are the 25Ks that are a mainstream in the market place.
wmawhite says(6:46 PM): IMO, as of today the note sees very little use. It does not require a major replacement caused from overuse. Instead, this note is being brought in off the bench and improved upon, thus meeting the requirements agreed upon with the Kurds. All of which are preparations for the 500 IQD note to be a major part of the Iraqi market place.
rcookie says(6:47 PM): GREAT GREAT POINT MR WHITE!!......VELOCITY.....
wmawhite says(6:47 PM): Yes, yes, and yes.....
Hutch says(6:47 PM): GREAT POINTS ! ANY QUESTIONS OR COMMENTS?
rcookie says(6:48 PM): AND FOR SOME ACTING AS IF THE KURDISH PRINTING...ACTUALLY 3 LANGUAGES IS RECENT NEWD.....
wmawhite says(6:48 PM): Come on folks.........why speand $million on a note that has a current value of $0.43?
prs says(6:49 PM): so which bill will it replace when it gains value
rcookie says(6:49 PM): HAVENT WE HEARD AND BEEN TOLD OF THIS SOMEWHERE BEFORE....
daytrader says(6:49 PM): LD's
Elane says(6:49 PM): ?
Hutch says(6:49 PM): prs: so which bill will it replace when it gains value
wmawhite says to prs(6:49 PM): It will not replace anything .....
wmawhite says to prs(6:49 PM): let me explain
Hutch says to Elane(6:49 PM): HANG ON ONE SEC
wmawhite says to prs(6:50 PM): The usefulness of this note will not be immediate once the value changes OUTSIDE of the country. Instead, what this note will be able to buy will be delayed as the price of the goods Iraq imports begin to decrease within the country as those goods are bought, shipped and transported to the merchants that are importing those goods.
wmawhite says to prs(6:50 PM): As those prices begin to decline, the usefulness of the larger notes wanes and the smaller notes rise. Thus, the larger three zero notes are simply retired and the merchants tell the customers to go get smaller notes. At this time trying to use a 25k or 50k note will be no different than pulling out a $100 note at Burger King to pay for some fries.
wmawhite says to prs(6:50 PM): Does this help???
Hutch says to Elane(6:50 PM): GO
Elane says(6:50 PM): so this is the first of the lower denoms weve been told about.?
cricket22 says(6:50 PM): ???
prs says(6:50 PM): Yes
Hutch says to cricket22(6:50 PM): HANG ON
wmawhite says to Elane(6:51 PM): IMO,.......no
wmawhite says to Elane(6:51 PM): This note is already out
wmawhite says to Elane(6:51 PM): although not used much
Hutch says to cricket22(6:51 PM): GO
cricket22 says(6:51 PM): What if you already have this 500 note with a different signature that looks like a heart? ...Is it still good?
wmawhite says to Elane(6:51 PM): the LDs are the fils and 1, 20, 100,etc.
Elane says(6:51 PM): Gotcha.. thankyou so much!
rcookie says to wmawhite(6:52 PM): GREAT EXPLANANTION AS USUSAL MR WHITE!!!..
wmawhite says to cricket22(6:52 PM): Still the Iraqi currency until theCBI says bring them to me........and they have not said that nor indicated they will.
wmawhite says to rcookie(6:52 PM): thanks
cricket22 says(6:53 PM): Ok, thank you... Makes sense.
Hutch says to cricket22(6:53 PM): GREAT QUESTION
Hutch says(6:53 PM): ALL GREAT QUESTIONS AND COMMENTS.... ANY OTHERS?
wmawhite says(6:53 PM): One moment
Hutch says(6:53 PM): GOING ONCE
daytrader says(6:54 PM): ?
rcookie says(6:54 PM): SO WHERE DID WE 1ST HEAR OF QUESTIONS AND CONCERNS OF THE KURDISH AND 3 LANGUAGES FROM....
NWBeauty says(6:54 PM): I always wondered how they would handle pricing in the markets
NWBeauty says(6:54 PM): Just for common goods
wmawhite says(6:54 PM): Still,............folks, why? Why in your opinion are they adding the Kurdis language and upgrading the note if it only has a value of $0.43
wmawhite says(6:54 PM): ???
JETSET says(6:55 PM): answer...
wmawhite says(6:55 PM): lets hear it
SRW says(6:55 PM): Increased Value!
prs says(6:55 PM): international
hunter59 says(6:55 PM): Country unity
daytrader says(6:55 PM): Wasn’t this note to meet a commitment to the Kurds, and put a note that will be worth a considerable amount of money post RV that is much more difficult to counterfit?
pop pop says(6:55 PM): Are the 1 ,5, 10. and 20 fils already printed
JETSET says(6:55 PM): from what i understand this has always been an issue witht he kurds. they wanted their language on the currency as part of the agreement going forward.
wmawhite says(6:56 PM): I gave you the answer in my post......
wmawhite says(6:56 PM): . IMO, this is evidence that a shift in the value of the Iraqi Dinar is near because this note will be of no value in the marketplace unless the price of product is reduced dramatically. This will happen when the value of the IQD increases dramatically OUTSIDE of Iraq.
wmawhite says to JETSET(6:56 PM): Your answer is correct too.
rcookie says(6:57 PM): BOULYAAAAAH!!!!!!!!
wmawhite says to pop pop(6:57 PM): IMO,.......yes
wmawhite says(6:58 PM): that is all I have.............and this note was first spoken about back in 2012............
_firefly_ says(6:58 PM): Not only is there Kurdish language on the new 500 note but it also contains the American Language
wmawhite says(6:58 PM): Three languages
_firefly_ says(6:58 PM): BINGO !!!!!
wmawhite says(6:59 PM): Back to you, hutch
rcookie says(6:59 PM): YES......AND THE 3 AMIGOS ADDRESSED THIS IN THEIR INTERVIEW
Hutch says to wmawhite(6:59 PM): THANK YOU SIR
wmawhite says(6:59 PM): September 2011
wmawhite says(6:59 PM): yw
Hutch says to rcookie(6:59 PM): YES THEY DID
rcookie says(6:59 PM): CORRECT
pop pop says(7:00 PM): I thought that they would not increase the value of their currency until they recovered all of the billions that were recently stolen from the country. Otherwise the bad guys would then have trillions to fund the terrioist activities.
_firefly_ says(7:00 PM): Why out out a 500 note at 1166?
wmawhite says to pop pop(7:00 PM): And who told you that???
pop pop says(7:00 PM): did I miss something
wmawhite says to pop pop(7:00 PM): Is that something you know....or it is something someone else thinks?
wmawhite says to pop pop(7:01 PM): Seriously,...............think about the question..
pop pop says(7:02 PM): It was more just my common sense getting in the way....
prs says(7:02 PM): ok so how do we know what stuff costs in Iraq is it relativly expensive? like a cheese burger does it cost a dollar 2 dollars?
_firefly_ says(7:02 PM): Again ........Why put out a 500 note valuedat 1166?
Hutch says(7:02 PM): GREAT NEWS ! ANY OTHER QUESTIONS OR COMMENTS ?
_firefly_ says(7:03 PM): If you do the math it comes to .4288 cents
Hutch says(7:04 PM): ANY OTHER QUESTIONS OR COMMENTS ?
_firefly_ says(7:04 PM): Not at 1166 !
prs says(7:04 PM): ok so how do we know what stuff costs in Iraq is it relativly expensive? like a cheese burger does it cost a dollar 2 dollars?
wmawhite says(7:04 PM): OK.....I pitched my 4 innings.........headed to the locker room...
_firefly_ says(7:04 PM): which is what the UN has them at
wmawhite says(7:04 PM): Collecting my check too.
Hawk says(7:04 PM): comment
Hutch says to Hawk(7:04 PM): GO
rcookie says(7:04 PM): A BIC LIGHTER IS 250 DINARS...A CUP OF HOT TEA WITH LEMON AT A POSH GREEN ZONE RESTAURANT IS 2000 DINARS
Hawk says(7:05 PM): looks like progress to me. amd a unifying factor
Hutch says to Hawk(7:05 PM): EXCELLENT POINT
rcookie says to Hawk(7:05 PM): AGREED
rcookie says(7:06 PM): OK.....SO HERE WE GO...
rcookie says(7:06 PM): Launch Central Bank loans to finance agricultural projects
An economy Since 2016-07-06 at 10:49 (Baghdad time)
Baghdad scales news The Ministry of agriculture, said Wednesday, launching agricultural loans from the Central Bank by ACB bin by 33% and equivalent (1, 650) trillion dinars. According to a statement by the Department of public relations and international cooperation at the Ministry received/balance of news copy, "the Committee completed the preparation of the controls and instructions and regulations according to the approved lending mechanisms functioning by Mr Prime Minister," indicating that "a detailed report was prepared for the preparatory phase. The statement said that "firing mechanisms were approved electronic forms to apply for agricultural and industrial and residential loans pursuant to the recommendations of the preparatory phase of the Supreme Committee of the Iraqi Central Bank loans allocated to various projects including small."
rcookie says(7:06 PM): He continued, "these projects aim to provide significant employment opportunities for young people and graduates and women working on raising the standard of living of citizens and move the wheel of development", adding that "the Ministry circulated launching mechanisms of electronic forms of agricultural loans to all circles and companies and divisions. He noted that "abstract lending mechanisms for small (500) million SMEs (3) billion dinars, and large projects in excess of 3 billion dinars and not more than 20 billion dinars, and strategic projects of more than 20 billion dinars where loan (5) years, except for a one-year grace period, apply to the agricultural Bank. The statement stressed that "the total amount of loans (6, 5) trillion dinars, with shares of other sectors increased by 33%, equivalent to (1, 650) trillion dinars for Industrial Bank, housing fund by 17% up (850) billion dinars in the same for real estate Bank, dyed with the share of private banks by $ 1 trillion of loans which promotes 50 million for small and medium-sized enterprises." over 29/34
rcookie says(7:07 PM): SO THE MINISTRY OF AGRICULTURE TODAY ANNOUNCES LAUNCHING OF AGRICULTURAL LOANS FROM CBI OF 1.65O TRILLION IQD ($1 BILLION USD)
rcookie says(7:07 PM): THESE LOANS WILL BE APPLIED FOR AND PROCESSED ELECTRONICALLY AND ARE GOALED TO GENERATE SIGNIFICANT EMPLOYMENT OPPORTUNITIES IN THE ROBUST ARICULTURE SECTOR WHICH INCLIDES PLANT AND CROP PRODUCTION...LIVESTOCK PRODUCTION...FISHERIES ETC...
rcookie says(7:08 PM): THE OTHER GENERAL SERVICE SECTORS INVOLVED INCLUDE ELECTRICITY AND WATER RESOURCE ACCESSIBILITY INVOLVING THE 7 DAMS AND 2 MAIN RESEVOIRS...AND GROUNDWATER AVAILABILITY...
rcookie says(7:08 PM): THE DEVELOPMENT OF THIS SECTOR WILL CONTRIBUTE ROBUSTLY TO GDP AND NON OIL REVENUES...IRAQ’S NATIONAL FOOD SECURITY AND INDEPENDENCE AWAY FROM EXPORTS AND INCREASE EXPORT OPPORTUNITIES...THIS SECTOR PLAYS HUGE ROLE IN NDP WITH DETAILED QUANTITATIVE GOALS...
rcookie says(7:08 PM): REMEMBER WE HAVE BEEN SAYING THAT ONCE THE FALLUJAH LIBERATION WAS MORE COMPLETED...YOU WOULD BE ABLE TO TIME THESE AGRICULTURAL AND INDUSTRIAL LOAN EXECUTIONS WITH A STOPWATCH........WELL HERE YOU GO!!....
Hutch says(7:09 PM): THERE IT IS !!!!
_firefly_ says(7:09 PM): And the flag was raised in Mosul !!!!
Hutch says(7:10 PM): ANY QUESTIONS OR COMMENTS ?
Elane says(7:10 PM): comment
Hutch says to Elane(7:11 PM): GO
Elane says(7:11 PM): AWESOME... all I can say!
Elane says(7:11 PM): Just awesome!
Hutch says to dego(7:11 PM): DO YOU HAVE A COMMENT?
rcookie says(7:11 PM): THESE TYPE OF PROJECTS AND DEVELOPMENT LOAN STALLING IS EXACTLY WHY ABADI CANNED THE 6 BANK DIRECTORS.....
dego says(7:12 PM): yes
Hutch says to dego(7:12 PM): OK GO
dego says(7:12 PM): isn't it also a fact the cost of these Bills are higher then the curent nominal value,?
dego says(7:12 PM): I mean the printing cost..
rcookie says(7:13 PM): YES...THAT IS CORRECT...
pop pop says(7:13 PM): What ever happened to all the talk that the IMF would take Iraq to the global market by the end of the June.?? Did Iraq receive the 15 billion loan or do they have to drop the 3 zeros first. Does anybody know these answers??
dego says(7:13 PM): so there is the answer..
rcookie says(7:13 PM): WHICH SPEAKS DIRECTLY TO THE POINT......WHY?????
dego says(7:14 PM): thank you..
wmawhite says to pop pop(7:14 PM): Iraq is in the economy markets
rcookie says to pop pop(7:15 PM): DOES YOUR QUESTION IMPLY THAT THEY ARE NOT ENTERING THE GLOBAL MARKET
wmawhite says to pop pop(7:15 PM): The IMF told you and me and the entire world that the G7 nations are now approaching Iraq to enter into financial agreements.
SRW says(7:16 PM): We are fixing to see the value of dinar currency go up!!
rcookie says to pop pop(7:17 PM): YES...THOSE ANSWERS ARE VERY WELL KNOWN....THE SBA LOAN PARTICULARS ARE KNOWN AS ARE THE DETILAS OF THEIR COMPLIANCE WITH IMF CONDITIONS...
pop pop says(7:17 PM): No, But if they had, wouldnt we already have seen a rate increase???
wmawhite says to pop pop(7:17 PM): No.........again, who told you that?
wmawhite says to pop pop(7:18 PM): Because, they are in the markets............however, the effect of being the global market will, IMO, cause the CBI to show the true value of the IQD.
prs says(7:19 PM): so are they in art 8?
Hutch says(7:22 PM): OK LETS MOVE FORWARD !
Hutch says(7:23 PM): WHATS NEXT FOR US RCOOKIE?
rcookie says(7:23 PM): Are consistent with the EFCC Act and Economic Reforms News source: Ali Salman Section: Economic page July 4, 2016 11:14 am
With the rising importance of the transition to a market economy and reliance on the private sector as an essential factor for the advancement of Economics, headed the House of representatives to vote on amending the law of the Federation of Chambers of Commerce of Iraq during the current legislative term to its importance in achieving the objectives that correspond to government reforms.
According to walastthmaralniabih economy Committee Chairman Jawad Al-bulani, the new election mechanisms include alterations and cancellation of some previous help hinder the work of the Union, as well as nomination and put his instructions and how to support and promote steps that contribute to the development of the private sector in the country.
The Parliamentary Committee last month held a workshop to discuss the second amendment of the EFCC Act (43) of 1989, which was attended by the President of the Federation of Chambers of Commerce gafralhamdani and his entourage and representatives of the private sector. For more than a million and 100, 000 residents work in internal and external trade.
Boolean asserted that law after its amendments would be sedated and meets the ambitious merchant, will serve the citizen who relies on his life fully on this sector who believes his clothing, food and other services and life matters.
EFCC works on organization and development of business competence and enhance the role of this activity in the process of economic development. For his part, the Economist called iam_ronoc to simplify procedures for registering companies.
Shimmari told reporters stressed the need to include this amendment point (simplification of procedures) with the aim of improving the Iraqi economy for the better development of trade relations and the promotion of the private sector which is one of the most important current development poles, urging the Government to speed up reform document application for side . LINK
rcookie says(7:24 PM): FEDERATION CHAMBER OF COMMERCE CHAIRMAN ALBULANI ASSERTS THAT REVISION TO EFCC ACT NO.43 (1989) TO TRANSITION TO MARKET ECONOMY AND PRIVATE SECTOR WILL BE PRIORITY STATUS IN CURRENT LEGISLATIVE TERM UPON RETURN OF PARLIAMENT...
rcookie says(7:24 PM): AS A FOLLOW UP TO LAST MONTHS WORKSHOP TO IDENTIFY CHANGES NEEDED IN TRADE RELATIONS AND “BUSINESS COMPETENCE” AFFECTING 1.1 MILLION IRAQI WORKERS...
rcookie says(7:24 PM): THEY ARE LOOKING TO AMEND LAW SO TO “MEET THE AMBITIOUS MERCHANT” NEEDS AND PROMOTE ECONOMIC DEVELOPMENT THROUGH PRIVATE SECTOR OPEN MARKET ECONOMY...WITH ECONOMISTS CALLING FOR STREAMLINING OF COMPANY REGISTRATION PROCESS...
rcookie says(7:25 PM): SO WE CAN ADD THIS CHAMBER OF COMMERCE ACT NO.43 TO THE LIST OF FINANCIAL & ECONOMIC DEVELOPMENT REFORM LAWS WE ARE LOOKING FOR...
Idaho says(7:25 PM): ?
Hutch says to Idaho(7:26 PM): GO
Idaho says(7:26 PM): Are we still looking at the 12th for parliment to meet?
pop pop says(7:27 PM): One more question, When do you think we will see the amnesty law and hcl law implemented??. Some people think as soon as we see those laws in affect we will see value increase immediately...
rcookie says(7:27 PM): YES ...BY ALL REPORTS.....
rcookie says(7:28 PM): AND THEY HAVE A BASKET OF LAWS CUED UP AND AWAITING THEIR RETURN.......
prs says(7:29 PM): ?
Idaho says(7:29 PM): rcookie thank you
Hutch says to prs(7:29 PM): GO
rcookie says to Idaho(7:29 PM): YVW
prs says(7:29 PM): so does anyone know who feed the rate to the forex?
_firefly_ says(7:30 PM): Thomas Reuters
MeginHim says(7:30 PM): ?
Hutch says to MeginHim(7:30 PM): GO
MeginHim says(7:31 PM): Do all those laws have to be passed and posted to the Gazette before they can RV?
rcookie says to MeginHim(7:32 PM): NO......MANY OF THE LAWS ....ESPECIALLY SOME OF THE ONES RECENTLY MENTIONED IN QUESTIONS ARE MORE NATIONAL RECONCILIATION CENTRIC LAWS AND HAVE NOTHING TO DO WITH CURRENCY & FINANCIAL REFORM...
rcookie says to MeginHim(7:33 PM): THERE ARE HOWEVER SOME ECONOMIC AND FINANCIAL LAWS AND ACTIONS WE ARE LOOKING FOR......OVER AND ABOVE THE LAST ARTICLE....
rcookie says to MeginHim(7:34 PM): POP QUIZ....WHAT ARE THE OTHERS...
rcookie says(7:34 PM): WELL......
pacella says(7:34 PM): banking law and investment
Soonergirlie says(7:34 PM): pubic Financial management law
clay01 says(7:35 PM): one is the amendment to the budget law
daytrader says to rcookie(7:35 PM): Financial management
charwesley says(7:35 PM): Budget law
rcookie says(7:35 PM): WOOOOOOOO HOOOOOOOO!!!!
Soonergirlie says(7:35 PM): adjustments to budget law per IMF request
rcookie says(7:35 PM): PUBLIC FINANCIAL MANAGEMENT LAW
Soonergirlie says(7:35 PM): there aren't many
rcookie says(7:36 PM): CBI LAW
pacella says(7:36 PM): ?
rcookie says(7:36 PM): BANKING LAW
Elane says(7:36 PM): Amnesty?
rcookie says(7:36 PM): INVESTMENT LAW
rcookie says(7:36 PM): 2016 BUDGET LAW
rcookie says(7:37 PM): COMPANIES LAW
rcookie says(7:37 PM): AND ADD THE CHAMBER OF COMMERCE ACT NO 43 (1989)
Hutch says to pacella(7:38 PM): GO
pacella says(7:38 PM): when is parl. back too work after edid. the 9th.
Hutch says to pacella(7:38 PM): LAST WORD IS THE 12TH
rcookie says(7:38 PM): REPORTS SHOW 12TH
MeginHim says(7:38 PM): ?
pacella says(7:38 PM): thanks
Hutch says to MeginHim(7:39 PM): GO
rcookie says(7:39 PM): THAT WAS IMPRESSIVE DU!!!!
MeginHim says(7:39 PM): Can all those laws be passed quickly without opposition?
rcookie says(7:39 PM): YOU GUYS RATTLED THEM OFF LIKE A PIECE OF CAKE!!!!!!!....
rcookie says to MeginHim(7:40 PM): YES...AND THE MAJORITY OF THEM ARE ALREADY CUED AND WAITING.....
pacella says(7:41 PM): thats because you guys and guls are good and explain the art. so we can understand. thank you all
SRW says(7:42 PM): ?
rcookie says(7:42 PM): OK.....THIS WAS YESTERDAYS NEWS BUT SOME SENT ME QUESTIONS ABOUT....SO
rcookie says(7:43 PM):
Repaying our debts start financial Paris July 5, 2016 18. 0 Our economy/Baghdad
The Finance Ministry said paid premiums and benefits of Dionne Jules Paris Club. The Ministry said in a statement received our newsletter, a copy of it, "fired the payments and benefits that you deserve in July 1st, under bilateral agreements signed with the Paris Club countries and Nations outside the Paris Club and the value of 500 million dollars." "The shots fall within Iraq's external debt settlement agreements achieved before 1990.
rcookie says(7:45 PM): SO....ALTHOUGH YESTERDAYS NEWS...HERE THEY ARE MAKING PARIS CLUB REPARATION PAYMENT OF $500 MILLION....
rcookie says(7:45 PM): THIS NUMBER WAS ORIGINALLY IN EXCESS OF $144 BILLION AND HAS BEEN NEGOTIATED DOWN TO REPORTS OF $7 BILLION...WITH OPPORTUNITIES TO NEGOTIATE DOWN EVEN FURTHER OR BE WIPED OUT ALTOGETHER...
rcookie says(7:45 PM): AND THIS IS ALREADY APPROPRIATED FOR IN THE EXISTING 2016 BUDGET WITH FINER DETAIL NOW THAT PAYMENT IS FINALIZED....
Hutch says(7:46 PM): IS THAT AN INTEREST PAYMENT ?
_firefly_ says(7:46 PM): This is a HUGE article since 2 weeks ago the Paris Club gave them till 2020 to repay the debt
_firefly_ says(7:46 PM): HUGE
rcookie says to _firefly_(7:47 PM): GREAT POINT......AND THERE IS STILL OPPORTUNITY FOR FURTHER DEBT REDUCTION OR FORGIVENESS......
_firefly_ says(7:47 PM): Many more !
_firefly_ says(7:47 PM): IMO of course
rcookie says(7:48 PM): AND THIS STARTED AT 144 BILLION....
da58 says(7:49 PM): so where does the 500mill come from?
_firefly_ says to da58(7:50 PM): Where did that 500 note come from ?????
rcookie says(7:50 PM): GREAT QUESTION DA.....
rcookie says(7:50 PM): BUDGET....
da58 says(7:51 PM): ok.... thx..
rcookie says(7:51 PM): IT IS APPROPRIATED IN EXISTING 2016 BUDGET.....
Hutch says(7:51 PM): GREAT QUESTION..... WHATS NEXT RCOOKIE ?
SRW says(7:52 PM): Will Parliament pass these laws without opposition? Some Parliament members want to stall ( such as Maliki's Crew ).
rcookie says(7:52 PM): 1 LAST LITTLE INTERESTING NEWS SNIPPET....
rcookie says to SRW(7:53 PM): THE SITTERS OBSTRUCTION IS SEVERELY FRACTURED AND UPON RETURN WILL NOT BE ABLE TO STOP THESE VOTES.....
SRW says(7:53 PM): Thankyou!!
rcookie says(7:54 PM): Daash poses own currency in the subject areas under his control
By Azad Jmakari 18 hours ago Roudao- Erbil
Informed sources said, that the "Islamic state", Daash, the instrument of its own Maadinh currency, recently launched in the city of Mosul market, which was dominated by the summer of 2014.
The source added that "currency posed a dinars doubtful of 21 carat gold and a weight of 25.4 grams, explaining that the value equivalent to US $ 140 and 187,000 Iraqi dinars."
In this regard, he said economic expert, Khurshid Alica, network Roudao media, said that "the use Daash of gold, silver, rather than focusing on the banknotes Ndrthma Their loss and the lack of value is the repetition of economic theory, a well-known Keynesian theory."
He added, Alica, that "gold coin to Daash trading is a kind of imposition of authority, sovereignty, legitimacy, the people in the control regions, namely the attempt to impose Daash state on the world, and international institutions.
He pointed out that "Daash need large quantities of pure gold instrument of its currency, which would be one of the obstacles to the continuation of peace gold coin of the organization."
He explained an economist, he "turned the organization into the new currency trading in major stock markets in Mosul, the most important door Sinjar Stock Exchange, Stock Exchange door Serail."
And on how successful Daash to put this currency in the markets, he said that "the gold dinar, despite the gold value, but it is doomed to failure, because it does not derive its strength from a strong economy, and transparent manner based on social justice, economic, and public acceptance to him,
Stressing that "the economy Daash financier of the war economy, and taking advantage of the tax, and taking advantage of the suffering of the people, and looting of underground resources, especially oil in the control areas."
He continued by saying, "The economic influence of Daash began to shrink after the big defeats that right by the peshmerga forces, and the forces of democracy Syria air support from the international coalition, and will have a significant impact on the new currency."
rcookie says(7:55 PM): ISIS USING ITS OWN GOLD DINAR CURRENCY IN OCCUPIED AREAS 21 CARAT AND WEIGHING 25.4 GRAMS WITH $140 USD VALUE (I87,000 IQD) AND IS TRADING IN SMALLER STOCK MARKETS IN MOSUL; LIKE SINJAR AND SERAIL AS ECONOMISTS DDOM THE CURRENCY TO FAILURE IN SPITE OF INHERENT VALUE DUE TO LACK OF DERIVING VALUE IN ECONOMIC STRENGTH AND SOCIALLY & GLOBALLY ACCEPTED POLICIES...
rcookie says(7:56 PM): JUST THREW THAT ONE IN THERE.....
Hutch says(7:56 PM): WOW
rcookie says(7:57 PM): WE ALSO SHOULD BE SEEING SOME RESULTS FROM THE CBI GOLD WINDOW ANNOUNCED OVER WEEKEND.... Hutch says(7:57 PM): THAT WILL BE INTERESTING !
Hutch says(7:58 PM):
SUCH EXCITING NEWS !!!! INCREDIBLY INFORMATIVE !!! DOES ANYONE HAVE ANY QUESTIONS OR COMMENTS?
rcookie says(7:59 PM): THANK YOU ALL FOR BEING HERE AT NEWSTIME.......GREAT QUESTIONS AND CONVERSATION!!...
Hutch says(8:00 PM): WHAT AN EXCITING NEWSTIME !!!! SO MUCH GREAT NEWS!!!!! THANK YOU RCOOKIE AND MR WHITE FOR A GREAT NEWSTIME!!!!!