TESTING TESTING TESTING…. BUMP BUMP BUMP IS THIS THING ON ?
DIGIman1 says to hutch(6:18 PM):
jimplants says(6:18 PM):
turn it up
SRW says to hutch(6:19 PM):
CAN'T HEAR YOU!!
eman4u55 says to hutch(6:19 PM):
hutch says(6:19 PM):
HERE WE GO !!!! IM GOING TO BRING IN THE ARTICLES THAT WE WILL BE COVERING ON THE CALL. THE CALL STARTS AS SOON AS WE ARE DONE BRINGING IN THE ARTICLES
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 !!
SO... HERE WE GO !
eman4u55 says(6:20 PM):
. BUMP BUMP BUMP REMINDS ME OF THE 60'S
hutch says(6:20 PM):
Currency auction burden on the Iraqi economy
October 25, 2016
in the versions of the center comments on the auction currency closed burden on the Iraqi economy
In the midst of political and economic crisis of Iraq today faces challenges of its economy is the largest in its history, From the structure of the structural, rentier nature and that was the main focus of successive crises and especially during the past two years because of the collapse in oil prices and slumping later, not to mention the political and security reasons that accompanied the occupation of the territory and vital cities in the north of the country.
Rentier economy in Iraq will depend entirely on oil revenues, which constitute more than 90% of its imports, and as a result of crisis, oil prices, the Iraqi economy has received numerous tremors internally and externally was toppled by making credit rating to "negative" by the agency "Fitch" global.
We discussed in previous articles the issue of the currency auction in Iraq, and Pena size of the enormous waste that gets under the currency auction, and how the currency auction exceeded imports of oil, which made us shed light on the foreign reserves, and that this auction may exceed to sell some of the foreign and n reserves of the Bank Central where he arrived in the first quarter of this year, oil revenue to 3 billion and 269 million dollars, while the total central bank sales of the currency in the same period amounted to 5 billion and 821 million dollars, and of course this difference is too large, and raises doubts about the figures where this amount was not for spending on imports because the latter were not the size of the revenue, and some also wondered who was to buy at this auction and for whom?
According to the achievement of the committees of the House of Representatives of Iraq and international reports has been wasted and looted the amount of $ 312 billion over the past years, the proceeds of oil pumped Central Bank of Iraq to the market, most of which had been transferred abroad.
The day after the persistently high exchange rate of the US dollar against the Iraqi dinar in the local markets and the absence of the real role of the Central Bank to address this problem, it seems the Iraqi dinar is in danger of collapse, thus rising inflation and entering into a severe economic crisis.
Therefore, the continuation of the central bank sold the dollar in larger quantities from Iraq's income from foreign currency as a result of the export of crude oil is a service of corrupt and called the term "whales" and cost Iraq losses of hundreds of billions of dollars, in addition to the billions that were stolen over the past years.
According to private information obtained links Research and Strategic Studies Center for a meeting between the number of banks and banking employers in the Baghdad area Jadiriyah The theme of the meeting about the dollar and the need to reduce its price on the black market has a number of whales threatened to auction the issuance of the decision to limit the auction a limited number of banks, some of them said that they were able to in all aspects of the state control, and the price of the dollar and they reject the dollar sell the asset in their accounts abroad, and of one who attended the meeting $ 350 million exists only when five people only, or five banks, according to sources, links the center of the President Minister Haider al-Abadi, is following this issue carefully and that he considers issuing important decisions which exempt officials at the central bank from office and openness of some state officials and political parties of links to some of the private banks and the prime minister in waiting completes the picture has, and follow up on whether the sell-off in favor of reliable banks or No, to take a very critical decisions, including the number of stop banks from entering the auction for pending lawsuits filed against it.
It is expected that there will be a reduction of the dollar to avoid penalties that may be imposed by the Prime Minister on the banks and those violators.
Once again, we will address the subject of an auction Eulma in the Iraqi Central Bank to have done this file are important for the Iraqi economy, where the central bank sells in daily auction of dollar amounts sometimes exceeding 130 million, mostly in remittances and is priced at 1182 dinars to the dollar.
The thorny issue here, is the difference between the selling price in the market who arrives in the market to 1300 dinars to the dollar, while the exchange rate is sold to partisan views and influential up to 1182 per dollar, according to quotas, which in turn sell it at the prevailing market.
Here we refer again to the currency and operations auction is a big burden on the Central Bank of Iraq and the economy in general, which of course is a window to support specific destinations As mentioned, thus it is considered a real blight on the central bank, and cash reserves.
The data suggest that Iraq's debt is today 77% of GDP, while safety is the ratio of public debt to GDP between 60-70%.
The estimated loss of Iraq, hundreds of millions of dollars because of the control of mafias and whales market through the monopoly of the currency auction for certain destinations, and dominate them. He indicated that the US dollar exchange rate in the Iraqi market price of 1310 dinars selling price while the purchase price of 1,300 dinars per one dollar.
As is known, the dollar is the engine of commodity markets in Iraq, as the country imports most of its overseas markets president.
The US dollar was trading in the Iraqi market this week at 1310 dinars, compared to about 1129 dinars to the dollar before the outbreak of war in Mosul, which experts see as a sign of the weakness of the central bank's policy.
This increase is the result of the opinion of the experts of the Central Bank's policy, and the decline of the dinar exchange rate against the dollar caused by the adoption of the central bank of some private banks and not others in an auction sale of the currency and the weakness in monitoring the performance of these banks. "
Over the past 13 years, Iraq has become an arena for the corrupt, has a group of influential Iraqis led the looting of public money is very large operations, and Iraq's coffers are empty, and this flaw revealed the collapse of oil prices two years ago.
Large and enormous challenges facing Iraq economically and politically, and the excesses of the money Iraq and its potential to the benefit of influential figures without supervision or follow-up, which is cast on the Iraqi government responsible for legislation, strict law along the lines of other countries, and monitor the work of the central bank auction of the currency, which has become today as a destructive element of the economy Iraq, as well as accounting for the corrupt agent of the Iraqi economy up to a dead-end tunnel cannot return it.
Unit Economic Studies
Economic laws to secure new revenue for the state treasury
BAGHDAD / Farah pumice
seeking for economic and investment commission to push for the adoption of new laws provide new income to the state treasury and is working to develop actually investment in the country.
According to the Chairman of the Committee MP Ahmad al- Kanani, the Committee discussed at its last meeting, the drafts (draft census law for the purpose of submission to read second, the enterprise Agency Regulatory Act for the purpose of lifting the first reading a draft Iraqi Commission Act to adopt in order to submit it for the second reading, the draft second amendment to the Law of the Federation of Chambers of Commerce Law No. (43) for the year 1989 for the purpose of submission to a vote).
"The Committee in order to expedite the enactment of laws economic and investment character addressed the relevant authorities in the government for the purpose of speeding up the completion of economic laws items and submit them to the House of Representatives in order to acknowledge the shortest possible time. "
Kanani said that" most economic laws, which allocates the Commission is very important legislation as they relate to the country 's economy and the development of fact , investment and insurance new sources of income to the state treasury, as well as a project of Statistics Act , which delayed legislation period we see a very long and it is time to approval being will provide all the data upon which the government in the conduct of its affairs, preparation of future plans. "
in the meantime, the House of Representatives is moving to approve Administrative Law Finance , which regulates financial matters of the state. chairman of the parliamentary finance committee Mohammed Halbusi pointed out that " the law came for the purpose of organizing rules and procedures that financial and accounting management control in the field of planning and preparation, implementation, control and audit of the general budget of the Federal and directing all revenues to the public treasury to cover the spending year." the law also works to "identify and units of internal control link from the administrative and technical standpoints and the development of mechanisms for the implementation of budgets and the commitment of both an executor and determine the responsibility of the Ministry of Finance in the implementation phase as well as setting specific dates for the submission of trial balances and closing accounts and commitment to the principles of the budget (budget transparency and comprehensiveness of the budget and the unity of the budget the annual budget and the lack of customization) when creating and implementing the federal budget and related matters to ensure the achievement of macroeconomic stability , financial stability and strengthen the budgetary resources and improve the efficiency and effectiveness of spending and ensure that cash management to optimize and improve the quality of the budget information provided to the House of Representatives and the citizens. "
Government bonds and safe way to save
BAGHDAD / Imad emirate
is a financial reform imperative to resettle capital and attracting private investment, especially investment indirect, such as stocks and bonds, and require the reform process in this aspect a number of basic steps, including the development of the stock market in Iraq to their importance in activating the role of the private sector in the process of development.
Dr. Emad Mohammed al - Ani said: «market Securities important role in the national economy, as it is not a market only stock trading but have dimensions more than that , and this is what is referred international experience».
and said al - Ani , in an interview with «morning »that the stock market (bonds) represent a wide range of work monetary policy to influence the overall financial and monetary variables, particularly on interest rates and the price of the local currency exchange rates of inflation, as it gives ample space to implement more efficient and effective monetary policy by the Central Bank of Iraq operations.
He noted that the government bond market while providing the opportunity for monetary authorities to achieve many of the relevant functions of the activities of these authorities , benefits, and most important of these benefits and advantages that the presence of the markets helps to shift towards the use of indirect instruments of monetary policy management and, in particular , open market operations . it is noted that in Iraq there are no active and influential bond market economically, and this made economic voices resound to find a solid bond market in Iraq.
Ani between these markets exert an important role in providing liquidity of the money market (short - term instruments), which is of great importance in efficient implementation of monetary policy, especially in light of what is represented by trend yield on government bonds as a source of information about market expectations on interest rates and rates of future inflation.
He stressed that this will reflect positively on the financial structure of the system as it integrates the role of the banking sector and stock markets, pointing out that the Securities government, and in all its forms, represents an important means and Chairperson of the means of saving and transmission of savings in the economy, among the various sectors , both for the adoption of a safe way to invest , or as an indicator of help in the adoption of investment decisions intact.
He noted Ani that the development of government bonds the same markets as contained in the reforms legislative and institutional requirements and improve the infrastructure of the financial sector that serves all parties and dealers in the financial sector.
comprehensive strategy and stressed the importance of addressing the financial and administrative corruption as a fundamental requirement in order to find the financial policy place in the application, and to tackle corruption must adopt a comprehensive strategy of economic, financial and administrative reform begin to desire the senior leadership of reform and pass institutional formation and ends with the full powers of the anti - corruption body with attribution to activate the participation of civil society, the press and body control, accounting and eliminate organizations.
He concluded Ani to say that characterized the financial sector transparency and clarity, as is transparency in government financial activity is essential for the integrity of the financial position and credit her good judgment and administration of comprehensive financial and integrity, as well as the fiscal transparency is a prerequisite for the safety of economic and fiscal policy, dissemination and document the general budget , which is displayed clearly in a timely manner makes it easier for investors and the public evaluation of government guidelines and therefore impose discipline hard to government operations.
Adoption of international control standards preserves public and private money
In the Arabian accountants forum in Baghdad
BAGHDAD / morning
auditing and accounting are the basis for building efficient economy achieves targets development sustainable, where lies all forms of manipulation that might monitor the operations of the implementation of projects and disbursements in public institutions, where the Arab Forum accounting third focused in Baghdad on the need to develop expertise Arab in this sector and enable it to international standards governing the audit and accounting process.
captain accountants and auditors Dr. Rafid pendulum said that the forum , which concluded its work yesterday dealt with the Iraq experience at this juncture it is important and ranges of application of international accounting standards, pointing to the need to pay an accountant and auditor in Iraq important that fit the size of the role it plays in the next economic management of the process, adding that there should be incentives lead to perform his work professionally maintains public and private money in both sectors.
participated in the forum that the two - day Arab delegations and local experts in accounting were exchanged experiences among the participants.
pendulum said in an interview with «morning» that the Association of Accountants and auditors is waiting for legislation from the House of Representatives authorizing the application of international accounting in Iraq standards, pointing out that the union has trained over the years more than 1,000 member through training courses under the supervision of regional and local experts, pointing to the continuation of work on the dissemination of standards in curricula at universities , which includes specialized economic affairs colleges.
the international standards in accounting and auditing rules guiding consulted professionals to make professional practices (accounting and audit) at a high level for the purpose of reducing the degree of difference in the expression and practice, and the criteria adopted to assess the technical quality of work and determine the nature and depth of professional responsibility, including supporting the regulatory environment through its quest to raise the degree of disclosure and transparency in financial reporting.
transmission of expertise
international expert Amin Saleh from Lebanon eating accounting standards and its impacts on financial reform , stressing the the importance of the exchange of international experiences in order to increase knowledge, noting that the exchange of expertise needs to be a transition period needed to create the human resources, noting that access to testing abbreviated transition period and earns participants new experiences of sources and be able to generate self - experience necessary.
standards and reform its part accept Dr. Khaled Mahayni former finance minister in the Syrian Republic adopted international accounting standards in the public and private sectors and their role in the economic reform process.
he said that the world has witnessed great development in all economic sectors Mausa investment here increased the need for the adoption of accounting standards and ensure that the financial statements of institutions according to standards international.
And stood at the Australian experience , which is one of the best countries in the adoption of mathematical criteria, which has worked to reconcile with international standards and is characterized by national companies a high commitment to these standards that have contributed to the organization of courses of action in accordance with the specific plans down to the desired goal.
He said the application of standards leads to get on the economic operations of real numbers in
all the institutions, thus ensuring the smooth flow of the direction of the budget allocations in the right direction and the safety of operations in spending.
Rational: use mass banking system across your IBAN money transfer application
An economy Since 2016-10-20 10:12 a.m. (Baghdad time)
Baghdad scales news
Good Bank announced Thursday, using the comprehensive banking system via IBAN system application for transfer of funds into and out of Iraq.
The Bank said in a statement received khodair Rashad/balance of news/copy, the Bank established a training course on using the program issuing the IBAN banking identity for customers of the Bank. "
Khudair, said that "the importance of the programme in the standardization of bank account numbers for all banks operating in Iraq in preparation for the use of the banking system and improving the level of financial and banking services.
The Director of the Bank, that "a timetable for lecturing on branch managers and staff of the current account, savings, the importance of the international bank account number," pointing out that "this system approved Bank will transfer money into and out of Iraq for all bank customers through that account." over 29/34
Read More :http://www.dinarupdates.com/showthre...er-application
hutch says(6:28 PM):
LAST ONE !
Food security and the concept of economic sovereignty27
ShowLast update: Monday , October 24, 2016 - 9:39
Food security and the concept of economic sovereignty
On according to economic changes taking place in our world, no longer bumpers borders of the nation-state as before, a barrier to commodity flows and the movement of labor and the movement of capital, as the globalization institutions led by companies that rule the world has been able to change the concepts of nation state administration and make it governments that skidded off dealings with these institutions, pure views need more debt, aid and received accreditation as a subsidiary entities getting what you want these companies in the United Nations and in international and regional forums leaves these satellite states remain captive for more presence for companies of globalization in their countries under the pretext of investment and development that rising rates for the benefit of foreign capital local and his followers on the poorer classes that do not derive from the high growth rates, but more poverty, thanks to the new supporters of Adam Smith who claim to liberalize commodity and financial flows and the movement of labor under the slogan account «laissez-faire to let him pass».
As debt constitutes the first form of economic containment Lhz countries in order to rob its imports, have impeded the concept of food security is the other form of the permanence of dependency. In this context, be «food security relative» that can be achieved in the majority of developing countries elusive even devote case of absolute dependence on the triad of globalization, represented by the International Bank and Fund and the World Trade Organization and the companies behind it. This is the foundations of him in our country since the situation advisers civil administrator Bremer - first and foremost Daniel Armestonz former director of Monsanto, which monopolize the seed market Aalemya- Law No. 81 on «Patents, Industrial Design, Undisclosed Information, Integrated Circuits, Plant Varieties» and who did not amends and become a binding force as it prevents the re-use of seeds stored from new varieties referred to the law in a country known to farmers the use and save their stocks of conventional seed for nearly five thousand years, only to find a seed market in Iraq is characterized Bgzarha productivity as seeds genetically modified controlled by foreign companies will pay these farmers to buy them and then repeat purchase annually until the demise of traditional seeds known to the Iraqi farms.
According to this law, Bremer seeds permitted should have an innovative and distinct specifications and are compatible with UPOV standards an acronym renamed the International Union for the Protection of New Varieties of the plant, which makes seeds protected in this law exclusively on companies. As it gives it the exclusive right to produce and re-production, sale, export and import and storage of protected varieties.
And extends these rights to the harvested field products, which means all plants and their parts, which can be obtained from the use of these protected items in this law. Bremer has issued a law that under the pretext of ensuring the supply of good quality in Iraq and to facilitate Iraq's accession to the WTO, the seeds, but the content of the law, which stands behind the companies that control the seed trade worldwide, particularly Monsanto, is to facilitate the infiltration of the Iraqi Agricultural Market by these companies to dominate the agricultural future of this country and the dependence of food security in favor of globalization, companies, and promotes it is to eliminate competition clause by local farmers, which kept her from the law, what legitimizes the marketing of genetically modified in Iraq and rejected the plants all over the world, which will not be possible retrieval in the agro-ecological cycle or cleaning up the environment from pollution caused by genetic, as well as it does not reduce the use of pesticides, as these companies claim the testimony of many researchers.
SRW says to hutch(6:31 PM):
hutch says(6:31 PM):
Here we have clarified that the law, which said Iraq for a series states governed by patents for seeds and protect the monopoly of multinational corporations rights laws at the local farmers' account, develop and Iraq loss of sovereignty and under occupation in accordance with the United Nations resolutions, which gives the current government and the House of Representatives the right to cancel this law and the consequent obligations and agreements with the government or the protection of the future of food security in the country's corporate entities, as a law losing legitimacy because of the lack of approval from the people's representatives.
THIS IS MORE ABOUT THE ASCESSION TO WTO
hutch says(6:31 PM):
SRW says to hutch(6:31 PM):
What types of crops are typically grown in Iraq?
hutch says(6:33 PM):
I KNOW THAT THERE ARE DATES, WHEAT AND VARIOUS GRAINS, IM NOT SURE PAST THAT, I WILL ASK FOR YOU IN THE CALL.
SRW says to hutch(6:34 PM):
jimplants says(6:34 PM):
will FLA State lose by more than 20?. could not resist. wheat corn dates they are the bread basket of the middle east
bubbles says(6:34 PM):
Is there a call to night?
hutch says(6:34 PM):
WE ARE DOING THIS A LITTLE DIFFERENT TONIGHT AS THE CALL STARTS SOON, WAS WAITING ON SUBBY
hutch says(6:34 PM):
THE CALL IS IN 15 ,IN
subgirl says(6:34 PM):
hutch says(6:34 PM):
david334 says(6:35 PM):
hutch says(6:35 PM):
OK SUBBY, BRING US A PRAYER PLEASE
eman4u55 says(6:35 PM):
subgirl says(6:35 PM):
Dear Heavenly Father, we are so thankful for all you have done for us. We are so grateful to be here in this room today knowing YOU will be giving us a Blessing soon. A Blessing that is far beyond our minds.
So now Lord we pray that you would give us understanding as we search and study the country of Iraq and please give wisdom to Hutch/Rcookie/Mr White/Daytrader as they come together and give us a call and Newstime. Thank you for our site here and for BGG and Mrs BGG and pray you would give them a Blessing. We pray also for the sick and those with cancer, please Lord heal their bodies and bring them all back to health. We think of RickeyT and for Clay’s wife right now. Be near Clay’s Wife as she has radiation on the 1st of Nov. We give you Praise and Glory for its in your Name Jesus we ask this, AMEN and AMEN!
magnetlady says(6:39 PM):
Link for Hutch's posts tonight