NEWSTIME With MadDScout and Company - Thursday, May 18th, 2017
BGG says(6:32 PM):
BGG says(6:32 PM):
Welcome to News Time with MadScout!!
magnetlady says(6:32 PM):
Holly1 says to BGG(6:32 PM):
MadDScout says to BGG(6:32 PM):
puffdragon says to MadDScout(6:32 PM):
Have you scouted out all the GOOD news for tonight !
MadDScout says to BGG(6:32 PM):
Welcome to Newstime for Thursday the 18th of May.
MadDScout says(6:33 PM):
I am glad to be here, I hope you are too.
MadDScout says(6:33 PM):
It will be Daniel(Jetset) and I tonight, along with BGG in the wings
BGG says to puffdragon(6:33 PM):
It has been a way of life for him for many years.
MadDScout says(6:34 PM):
Daniel will bring our prayer tonight
MadDScout says(6:34 PM):
Daniel would you like to start us off?
puffdragon says to BGG(6:34 PM):
We are greatful for all the ones like Pat !
MadDScout says to puffdragon(6:34 PM):
doin' my best
MadDScout says to puffdragon(6:35 PM):
JETSET says(6:35 PM):
Heavenly Father, thank you for all that you have done for us. Thank you for the blessings you have given to each and everyone of us and for sending your Son to be the Savior of the world. We ask that you bless this news time and everyone that is here. May all that is said and done bring honor and glory to your name. In Jesus name I pray, AMEN.
scottiegirl says(6:35 PM):
puffdragon says to MadDScout(6:35 PM):
MadDScout says(6:35 PM):
bubbles says(6:35 PM):
jfinny says(6:35 PM):
jake1 says(6:35 PM):
magnetlady says(6:35 PM):
puffdragon says(6:35 PM):
eaglesrest says(6:35 PM):
dale says(6:35 PM):
morris says(6:35 PM):
sassy says(6:35 PM):
subgirl says(6:36 PM):
hunter59 says(6:36 PM):
MadDScout says(6:36 PM):
We have Marie with us tonight on copy
scottiegirl says(6:36 PM):
pacella says(6:36 PM):
MadDScout says(6:36 PM):
Marie do you have the rules?
scottiegirl says(6:36 PM):
PLEASE BE NICE TO OUR COPIERS AND MODS DURING NEWSTIME AND PLEASE WORK WITH US TO KEEP OUR QUESTIONS AND COMMENTS IN AN AREA OF WHEN WE ASK FOR QUESTIONS OR COMMENTS. ITS REALLY TOUGH ON THE COPIERS WHEN IT IS SCATTERED AND ALSO REQUIRES MORE TIME TO COLOR AND PRODUCE. IT IS ALSO HARD FOR OTHERS TO READ AT A LATER DATE. SO AGAIN PLEASE BE NICE TO THEM AND LETS KEEP THE COPY IN ORDER. THANK YOU FOR YOUR UNDERSTANDING! If YOU HAVE A QUESTION - USE A ??
pacella says(6:37 PM):
Wilson6060 says(6:37 PM):
JETSET says(6:37 PM):
MadDScout says(6:37 PM):
This first report is rather long but very good
MadDScout says(6:37 PM):
This one is courtesy of BGG
MadDScout says(6:37 PM):
This is an interview with the former Central Bank governor
MadDScout says(6:38 PM):
Abdul Basit Turki (Mashreq): The policy of external borrowing will lead to economic recession
MadDScout says(6:38 PM):
Mashreq - Special:
Date Posted 16/05/2017 03:58 PM
Abdul Basset Turki stressed that the continued clinging to resolve the economic crisis through Iraq through borrowing and reducing public spending without changing the exchange rate of the Iraqi dinar in securing revenues to cover the current spending of the state will quickly lead to further economic recession and erosion of foreign assets, especially the reserve of the Central Bank of Iraq.
He added in an important article about the Mashreq that "all the problems of public indebtedness and the disadvantages of external indebtedness in particular, especially that resorting to administrative decisions (imposing customs tariffs, increasing fees, tax collection) under an administrative system (incompetent), indicates that this device will find these decisions opportunity for further personal enrichment at the expense of economic activity and the income of the private sector, which is being transferred to the subsequent burden on the shoulders of the ordinary citizen. "
MadDScout says(6:39 PM):
(( Here Turki points out that, "incompetent" administrative system, will lend itself to corruption at the expense of the economy and the ordinary citizen. He is concerned with the proper application of tariffs, tax, and collections, which are valid tools if managed coherently. ))
MadDScout says(6:39 PM):
The General Budget for 2017 ((what it has and what))
Dr.. Abdulbaset Turki Saeed
What does the 2017 budget indicate? And where is the Iraqi economy heading?
What are the dimensions of his current crisis? What are the mechanisms that deepen this crisis?
MadDScout says(6:39 PM):
As is the previous budgets, the 2017 budget was planned indicate a deficit reached 21.66 trillion compared to 24.2 trillion and 25.4 trillion Iraqi dinars for the years 2016 and 2015 , respectively , as the following table indicates (billion dinars):
Taking into account the actual revenue generated from the sale of oil for 2014, 2015 and 2016 as the main source of budget revenues, the actual deficit (not planned) is expected to be more than in previous years. Oil revenue decreased from $ 79.3 billion to 43.1 billion and 28.1 billion dollars for those years (2014, 2015 and 2016, respectively).
MadDScout says(6:40 PM):
To get closer to this problem, the average price per barrel in the first three months of 2016 was less than $ 25 and at the cost of production per barrel currently shows the size of the expected rent gap, it is known that the deficit comes either from a decline in revenue or increased spending for the general budget or the two together.
And because the revenues of oil source often form a proportion of funding exceeding 90% of this budget and for the purposes of characterization of the problem, the decline in revenue is the decisive factor in the existence of this deficit, which is actually happening continuously in Iraq either directly through the actual decline in revenue or indirectly through the failure The abundance of revenue is motivated by lack of rationality in spending.
MadDScout says(6:41 PM):
The traditional recipes in economic policies indicate that the deficit is being met by trying to maximize the alternatives and reducing public expenditure. This ready-made description is what was taken in the 2017 budget, either at the request of the International Monetary Fund or according to the visions of the Iraqi financial administration.
Vtm build tables of financial amounts are not suitable at best not to fund the operation of the face of the government where he continued to consider the budget as the only public financing fund.
MadDScout says(6:41 PM):
Yes, everyone understands that the situation in Iraq is exceptional and talk about the magnitude of the challenges is no longer a secret to anyone, but not to pay until we realize that the most important to look at the budget not only the economic dimension, but also the social impact does not deserve the challenges of which everyone speaks either by mask or for the purpose of marketing that formulated the budget in public leads to the efficient operation of the resources available to push the economy out of its crisis and society away from some Totruth accompaniments of the recession, unemployment and disruption. MadDScout says(6:42 PM): The most problematic forms of treatment are the mechanisms adopted in the face of this deficit. In terms of finance, it was adopted in the face of increasing external indebtedness, in addition to the expansion of borrowing from commercial banks, both public and private, with the insistence on continuing to pressure spending. Any further unemployment and recession?
When reviewing the development of this indebtedness, which is estimated (optimists) it amounted to $ 110 billion, it means that the Iraqi budget in a time not to be paid a year installments of this debt and interest and with the continuation of the same direction (which sees the budget is a government fund only ), MadDScout says(6:42 PM): This debt will continue to increase (monitored in the budget of 2017 to meet the debt service more than nine trillion dinars), strange that those who defend this policy completely disregard the words of their professors more than four hundred years of (religion is evil and public debt is evil in the sense Floor),
there are no unconditional debts and talk about debt owed He is pleased to talk about the amounts of cash and not the implications of the granting of privileges and inducements to meet the lenders and the more the exceptional circumstance that Iraq lives in the complexity, the weaker the opportunity to bargain and negotiate to borrow. MadDScout says(6:43 PM): (( Iraq is not in a position to be borrowing. Pointing out this has to be paid back, and that with interest. )) MadDScout says(6:43 PM): The world is aware of the future investment opportunities in Iraq, at the same time that knows the way to face the financial administration in Iraq for the crisis and may push for its adoption, there are no loans from international organizations without conditions, and through direct experience and readings of international experiences nearby, it depends on the strength of the national negotiator Which stems primarily from its credibility in the direction of financial and economic reform?
When the IMF and the World Bank granted the latter loans to Iraq, some were not hoping for the loan itself, but because it would prompt other lenders to believe and conclude that Iraq was heading for a serious reform of fiscal and monetary policy that would be supervised and monitored by the International Monetary Fund. MadDScout says(6:44 PM): But the expectation is otherwise, (and I hope to be wrong, Iraq does not need more problems). We believe that the price of a barrel of oil will return to the pre-2014 level and thus exceed the funding crisis, while the most realistic expectations and requirements this year to pay for selling more than 42 US dollars a barrel, the price adopted when the budget estimates for 2017, which Is logical after the actual price of the barrel approached a lot in the last months of 2016, but will not return to what it was at the threshold of 100 dollars a barrel, and do not go optimists beyond the arrival of the price of selling Iraqi oil barrels to more than $ 55 this year, MadDScout says(6:44 PM): and if we consider Costing the production of the drum The net deficit that will enter the Treasury will be close to $ 35 per barrel and with the increased need for military and security spending, the actual deficit gap will continue, and with all the stated directions to increase the sources of non-oil revenues,
the second sources of revenue now is the tariff and customs reality that the actual border crossings tend to move away from the public treasury fueled day after day is expected to decline Theseladtha, it has become the privilege of localities as being sovereign and every day to publish media stories and incidents point to a decline in federal control in regards to these ports, as well as for the matter of taxes and other important .valthesel tax administrations succeed in overcoming the disadvantages experienced by, it depends on the effectiveness and transparency of economic activity data generated by this activity. MadDScout says(6:45 PM): Everyone knows that economic activity is constantly declining, in addition to the serious pursuit of taxable establishments for the conduct of any available means of tax smuggling.
The income streams of employees and regular employees remain a source of administrative verification away from the efficient sources of these taxes. IDPs become the possibility of the pressure of public spending is available towards the pressure of the investment plan for the public sector where the first takes the financing of the current budget (operational) of salaries, wages and international commitments the bulk of this funding .
MadDScout says(6:45 PM): (( At present the government is satisfied to tax employees instead of a proper application of a real tax system, or porper tax sources. )) MadDScout says(6:45 PM): Thus , we continue to secure the money to spend A achieves, in light of the recession and the economic chaos of an economy open to the outside substantially, any significant return or return an influential future in the process of pushing the economy.
We simply need to run the economy and manage the state apparatus to provide basic services to citizens under social, political and economic crises. What has been resorted to is more borrowing, which means assuming oil prices improve and economic management is developed. MadDScout says(6:46 PM): Iraq will be able to repay debt but at the expense of development opportunities. And building for the immediate future and for future generations. As the current exchange rate of the Iraqi dinar continues (adding to the prevailing security and administrative situation), the chances of attracting foreign investment are costly compared to other regions, including regional ones affected by prevailing tensions In its surroundings now. MadDScout says(6:47 PM): I do apologize for length MadDScout says(6:47 PM): The continued adherence to the solution through borrowing and reducing public spending without changing the exchange rate of the Iraqi dinar in securing revenues to cover the current expenditure of the state will quickly lead to further economic recession and the erosion of foreign assets, especially the Reserve Bank of Iraq, in addition to all the problems of public indebtedness and the disadvantages of external indebtedness, , especially since the resort to administrative decisions ( the imposition of customs tariff, increasing fees, tax collection) under the administrative apparatus (incompetent). Where experience suggests that this device will find in these decisions chance for further personal enrichment at the expense of economic activity and the income of the private sector, which is being transferred to the subsequent burden on the shoulders of the ordinary citizen.
In addition to the contribution of these decisions in the further administrative complexity under the situation is already complex, is expected to oppose the exchange rate change the first two groups based on the exchange rate change in all experiments is accompanied by high inflation rates up in some high levels may exceed The rate of more than ten years earlier and the resulting social disorder and perhaps political as the segment, which is affected by a large inflation is a segment of low-income where the erosion of the real entry, and when it says that all experiments indicate high inflation, it means that the harm before the decision-maker forced To overcome greater damage and promising him what is available In order to reduce the impact of this damage, economic policy is a choice between alternatives. MadDScout says(6:48 PM): (( This incompetence, compounds an already complex situation, and the decision makers involved are expected to oppose a rate change due to experimental data pointing to high inflation and "to exceed the 10 years previous". "economic policy is a choice between alternatives." )) MadDScout says(6:48 PM): In light of the crisis, it is a choice between a bad alternative and a more bad one. It is related to those who are affected by this crisis, especially as inflation rates in Iraq are constantly declining. Efficient economic resources for a decline in available markets.
After the recent Egyptian experiment, other arguments failed to see that the IMF did not agree to change the exchange rate while the IMF welcomed Egypt's support when the exchange rate of the Egyptian pound was strengthened. This was reflected by the increase in the foreign exchange income to Egypt due to this flotation. other markets, particularly in the field of real estate investment and remittances from Egyptians abroad. the IMF calls for policies calling for price stability, but according to the real prices, how can we continue to defend the exchange rate is supported? MadDScout says(6:48 PM): To what extent can the central bank reserve continue to support this price ??
(( Here is the group who benefit from a low exchange rate. )) MadDScout says(6:49 PM): The other group is the group benefiting from the continuation of the exchange rate as it is through the low prices and costs of imports of foreign products and services compared to the cost of the domestic product as long as the import is actually a subsidized exchange rate in addition to what the speculation achieved profits and returns to them through the difference between Exchange rates, and the arguments of these alone pay for the need to change the exchange rate in a serious and effective to ensure the short-term reconstruction of the artisanal and small sector and the agricultural sector and medium-term real estate and tourism services and in the long term to the stability of technology Beam medium and heavy industry and modernization of the existing ones through the economic feasibility of modifying the successor exchange rate and this represents the impact of the elimination of unemployment and consequent social problems reported.
MadDScout says(6:49 PM): (( The ones making a profit off the difference between the official rate and the street rate, are the biggest arguments for "the need to change the exchange rate in a serious and effective(way)" ))
MadDScout says(6:49 PM): The economic recession has made public employment the only viable opportunity for labor force, and in the absence of the government in recent years to expand these opportunities either due to the pressure of public spending or at the request of the IMF, these government employment opportunities will continue to wane and continue unemployed youth groups Increasing.
The return of the general budget will change the exchange rate will ensure the balance of public financial resources beyond the gap deficit actual without the need for this harmful amount of public debt, which must be seriously thought as long as it is influential now, while it may not be in another time and time. MadDScout says(6:50 PM): (( Some job opportunities were created, due to pressure of public spending or at the request of the IMF, these job opportunity will start to decrease. He adds in final that, these suggestions should be seriously concidered now, while the time is right, because the time may not always be right. ))
https://www.dinarupdates.com/showthread.php?49168-Abdul-Basit-Turki-(Mashreq)-The-policy-of-external-borrowing-will-lead-to-economic-r JETSET says(6:50 PM): Did everyone catch all of that?
ANY QUESTIONS / COMMENTS ? / ! Holly1 says(6:50 PM): ? MadDScout says to JETSET(6:50 PM): :ahaha JETSET says to Holly1(6:50 PM): GO AHEAD Holly1 says(6:51 PM): that was a looooong one .. I will catch it in the logs s71 MadDScout says(6:51 PM): LOL (y) JETSET says to Holly1(6:51 PM): THANKS Holly1 says(6:52 PM): ty.. mad s71 JETSET says(6:52 PM): anyone else? MadDScout says to Holly1(6:52 PM): My pleasure Holly1 says to JETSET(6:52 PM): s71 JETSET says(6:52 PM): Next article... MadDScout says(6:52 PM): This one from Mohammed Saleh (financial adviser to the Prime Minister) MadDScout says(6:53 PM): Please don't stop at the headline MadDScout says(6:53 PM): Here Saleh is giving some options to the money crisis, but also says it needs further discussion to make the best decision.
MadDScout says(6:53 PM): Float banking solution to the Iraqi money crisis
Posted by Economic news editor Date: May 17, 2017
Baghdad / Private NeniraQ
Reports issued by some of the financial institutions and critical money locally and internationally signals that the reserves of foreign currency in Iraq fell to only $ 40 billion !! In the first quarter of 2017 after it was in early 2014 more than 88 billion dollars. MadDScout says(6:53 PM): This indicator needs a serious pause and deep research to diagnose the imbalance and find quick solutions before entering the Iraqi economy in the midst of a new cash crisis, noting that the government is clinging to this economic news.
In this regard, financial and economic experts suggested forming a crisis cell to discuss solutions
There are a number of solutions when there is a depletion of hard currency, including:
1 - float currency, a very difficult option to apply in Iraq now. (( difficult option ))
2 - Canceling the auction of the currency (the Great Blast). << (( this option has been discussed and without alternatives, is a bad idea. ))
MadDScout says(6:54 PM): 3. Re-activate the control of financial transfer.
4. Limiting borders and preventing organized smuggling through the activation of the Tariff Law. (( Get that tariff law applied and evenly ))
5 - Adoption of documentary credits in the import operations instead of selling the currency to traders.
MadDScout says(6:54 PM): (( The documentary credit is one of the most secure payment methods in international trade, offering the exporter a conditional payment guarantee from the importer’s bank. Documentary credits usually require the presentation of certain documents, which must be complied with before payment can take place. )) MadDScout says(6:54 PM): 6. Restructuring and privatizing losing companies in the industrial sector. And benefit from hard currency caused by privatization.
7 - Attempt to gradually disengage between the Iraqi dinar and the dollar and link the national currency to a basket of currencies and this action needs a political decision and national will And other solutions and plans but need to be properly diagnosed and worked hard by forming a crisis cell to discuss it.
(( this idea of the basket has been talked about before would take an act of Parliament, and the desire to do it. )) MadDScout says(6:55 PM): The appearance of Mohammed Saleh, financial adviser to the Prime Minister has proposed the establishment of a bank to finance the trade of the private sector contribution of commercial banks (all governmental and private) and specializes in the function of opening documentary credits syndicate to finance foreign trade to the private sector, similar to the Iraqi Bank for Trade, which finances government imports by opening credits Documentary.
Pointing out that the Central Bank of Iraq supports the proposal as well as the Ministry of Commerce and the Ministry of Planning, so as to impose a situation in the operation of foreign currency / wholesale operations, with the availability of strategic partner in the administration and be a global bank high credit rating, MadDScout says(6:55 PM): "The bank is formed by a license from the Central Bank and the Ministry of Commerce as a joint stock company and practices international banking on a high basis of governance, which separates management from ownership and an independent board of directors. Wishing that the work will be on the formation of this entity international banking organization high-level.
https://www.dinarupdates.com/showthread.php?49217-Float-banking-solution-to-the-Iraqi-money-crisis MadDScout says(6:55 PM): A move more akin to free market activity
IMO none of these needs a lot of time, but it does need wisdom JETSET says(6:55 PM):
? / ! Holly1 says to MadDScout(6:55 PM): s71 JETSET says(6:56 PM): ANY QUESTIONS / COMMENTS ? / !
MadDScout says(6:59 PM): Abadi: Most of Iraq's debts are internal and not external Bertha News Agency 99 2017-05-16
Prime Minister Haider al-Abadi said on Tuesday that most of the debts borne by Iraq is internal and not external, stressing that his government began to extinguish some debts despite the decline in oil prices.
Abadi said during his weekly press conference that "the most debt borne by Iraq internal and not external," pointing out that "the government began to extinguish some of the debt despite the decline in oil prices." MadDScout says(6:59 PM): Abadi added that "Iraq with the continued reduction of oil prices and without this action will collapse prices," noting that "the volume of spending, despite the reduction is still greater than revenues."
He added that "the government continues to provide services to citizens despite the lack of imports," stressing that "it focuses on important projects such as water and sewage allocations less than previous years." MadDScout says(7:00 PM): The Ministry of Planning announced, on Sunday (5 March 2017), that the war on the organization "Daash" drain 40% of the budget of Iraq, and reduced the importance of talking about the "bankruptcy" of the country during the year 2020, indicated the existence of debt "abhorrent" Gulf estimated at $ 41 billion.
https://burathanews.com/arabic/economic/317625 JETSET says(7:00 PM): ANY QUESTIONS / COMMENTS ? / ! MadDScout says(7:01 PM): Deputy: The wrong economic policy forced Iraq after the stage of urging to resort to internal borrowing and external
Member of the Finance Committee MP Masoud Haider said successive Iraqi governments after 2003 did not deal with the management of the Iraqi economy and financial management rationally.
He said in a statement today that "despite the high oil prices and explosive balances in 13 years, Iraq has not been able to build a strong economy and solid infrastructure contribute to improving the economic situation of the Iraqi citizen." MadDScout says(7:02 PM): He explained that "the annual revenues were more than 100 billion dollars and the infrastructure is not built for an important city, such as the province of Basra, which is the artery of the Iraqi economy and the most important source of revenue of the Iraqi state."
He added that "the wrong economic and financial policy forced Iraq after the advent of the call and low oil prices since mid-2014 to resort to external and internal borrowing is necessary, so that the government can pay the salaries of employees and retirees and self-financing companies that are supposed to secure salaries of its own product, To secure the cost of the war on terrorism, otherwise the collapse of the fate of the Iraqi state. " MadDScout says(7:03 PM):
https://www.dinarupdates.com/showthread.php?49239-Deputy-The-wrong-economic-policy-forced-Iraq-after-the-stage-of-urging-to-resort-to MadDScout says(7:04 PM): Have i put everyone to sleep? JETSET says(7:04 PM): s51 MadDScout says(7:04 PM): Any ??'s Baxter1243 says(7:04 PM): ? JETSET says to Baxter1243(7:04 PM): GO AHEAD! pacella says(7:04 PM): ? Baxter1243 says(7:04 PM): I want to go back to the first article for this question... just a min JETSET says to Baxter1243(7:05 PM): ok Baxter1243 says(7:05 PM): (( The ones making a profit off the difference between the official rate and the street rate, are the biggest arguments for "the need to change the exchange rate in a serious and effective(way)" ))
The Market Rate or Street Rate is still way.. way above the 2% limit.. and has been for over a year... it hasnt changed very much at all.... at 1254...
The Market rate needs to be all the way down to 1204 to be within the 2% limit..which is what the IMF supposedly is looking for...
so again... I ask... is this going to be a hold up for an increase in value? thx Baxter1243 says(7:06 PM): does also.. the 2% limit effect a float? MadDScout says to Baxter1243(7:06 PM): I think the value change is criteria centric MadDScout says to Baxter1243(7:06 PM): meaning despit any assumed 2%, they have a set of criteria to meet and the stipulations like the 2% can be "negotiated" Baxter1243 says(7:07 PM): so.. its not set in stone.. to speak MadDScout says to Baxter1243(7:07 PM): There is debate about what the 2% means BGG says to MadDScout(7:07 PM): That is correct. Baxter1243 says(7:07 PM): Ok... thx..... JETSET says to pacella(7:08 PM): GO! MadDScout says to Baxter1243(7:08 PM): but we do know from research that they can negotiate if they are making progress pacella says(7:08 PM): Did the first article state that the IMF AND WB don't want Iraq to change the rate? or were they talking about Eypt MadDScout says to pacella(7:08 PM): Yes that was in regards to Egypt MadDScout says to pacella(7:09 PM): their circumstance specifically pacella says(7:09 PM): OK thanks got alittle worried MadDScout says to pacella(7:09 PM): pacella says(7:10 PM): So all in all what are these articles saying that they need to change the rate JETSET says to pacella(7:12 PM): Absolutely. Most everyone from inside of the GOI as well as the global powers such as the UN, WB & IMF have all said that Iraq needs to have currency reform. They are just waiting on the circumstances to be right. MadDScout says to pacella(7:13 PM): Both Saleh and Turki laid out some very coherent guidelines MadDScout says to pacella(7:13 PM): It will take wisdom and the "want" to do it pacella says(7:14 PM): s51s75 thank you I hope circumstances are right very soon. MadDScout says to pacella(7:14 PM): Not all these suggestions are going to be easy but are how market economies work MadDScout says to pacella(7:14 PM): As do we all puffdragon says to MadDScout(7:14 PM): Its like having a baby the time is never right ! At some point a decision needs to be made and work with it ! MadDScout says to puffdragon(7:15 PM): Amen MadDScout says to puffdragon(7:15 PM): It is a very fluid situation also puffdragon says to MadDScout(7:15 PM): There realy GOOD at talking ! MadDScout says to puffdragon(7:16 PM): Indeed LOL puffdragon says to MadDScout(7:16 PM): I understand but again if you are waiting for the perfect time that may never come ! pacella says(7:16 PM): Do you think it will happen soon after Mosul? MadDScout says to pacella(7:17 PM): I like to believe so MadDScout says to pacella(7:17 PM): They have a very good opportunity right now as stated MadDScout says to pacella(7:18 PM): the time may not always be such MadDScout says(7:18 PM): I have one last one kinda small potatoes puffdragon says to MadDScout(7:18 PM): I like your thinking Pat ! MadDScout says(7:18 PM): but is about cleaning up corruption
MadDScout says(7:19 PM): The arrest of a former director of the Agricultural Bank in Maysan after the collapse of 205 billion dinars
Security Number of readings: 13 18/5/2017
National News Center NNC - A judicial source, Thursday, the arrest of a former director of the Agricultural Bank in Maysan on the back of the running of 205 billion dinars.
MadDScout says(7:19 PM): (( WoW!)) MadDScout says(7:19 PM): The source said that "a security force from Maysan arrested the person who Igtls sold 205 billion dinars of the funds of the Agricultural Bank in the province."
The source, who asked not to be named, said that "the detainee was the director of the bank." MadDScout says(7:19 PM): The Commission on Integrity in the Council of Maysan province, on Wednesday (17 May 2017), issued an arrest warrant against the former director of the Agricultural Bank after complaints filed against him.
https://www.dinarupdates.com/showthread.php?49238-The-arrest-of-a-former-director-of-the-Agricultural-Bank-in-Maysan-after-the-collapse JETSET says(7:20 PM): ANY QUESTIONS? MadDScout says(7:20 PM): There are many corruption cases being brought to Integrity right now BGG says to JETSET(7:20 PM): ? MadDScout says(7:21 PM): I say that shows effort on the part of Iraq to get it's corruption under control JETSET says to BGG(7:21 PM): GO! BGG says to JETSET(7:21 PM): I have a question... BGG says to JETSET(7:21 PM): wait for it... BGG says to JETSET(7:21 PM): wait for it... BGG says to JETSET(7:21 PM): WAIT FOR IT!! BGG says to JETSET(7:22 PM): RV THERE YET?????????????????????????? BGG says to JETSET(7:22 PM): (humor for the nite) MadDScout says to BGG(7:22 PM): :ahaha JETSET says(7:22 PM): WE ARE SO CLOSE WE CAN FEEL THE SAND IN OUR TEETH! BGG says to JETSET(7:22 PM): I almost spit Coke all over my keyboard. BGG says to JETSET(7:23 PM): Jetset = the New OKIE MadDScout says(7:23 PM): s37 Babe says(7:23 PM): s44 caravaggio says(7:23 PM): Well if they don't get going pretty quick, they're going to be BROKE. Their words. JETSET says to BGG(7:23 PM): You know that will make the rounds in the dinarisphere! BGG says to caravaggio(7:24 PM): that seems to be the tone and tenor of things lately. MadDScout says(7:24 PM): That was all I had tonight BGG says(7:24 PM): Ok - OK... BGG says(7:24 PM): in all seriousness... I rarely do this. BGG says(7:24 PM): like - almost NEVER. MadDScout says(7:24 PM): I hope everyone was not board out of your skulls JETSET says to BGG(7:24 PM): i really do like where we are. BGG says(7:24 PM): I am very excited about the current state of things. pacella says(7:25 PM): BGG CHANGE NAME TOO FRANKs52s73 MadDScout says to BGG(7:25 PM): Did you want to add before we close? Wilson6060 says(7:25 PM): TY to all BGG says(7:25 PM): I am very excited about the next short time frame... I think we are in an incredible window of time right now. JETSET says to BGG(7:25 PM): not that it matters, but i agree 1000% MadDScout says to BGG(7:25 PM): Indeed and ditto MadDScout says to BGG(7:26 PM): (y) puffdragon says to MadDScout(7:26 PM): s73k:urra scottiegirl says(7:26 PM): s71 JETSET says to BGG(7:26 PM): i am starting to get excited i teeny, tiny bit! pacella says(7:26 PM): :siii BGG says(7:26 PM): and I do feel - if things advance as they have been - we could be very, very close. Maybe not today or tomorrow, but legitimately CLOSE. Unlike ever before. MadDScout says(7:26 PM): I would like to thank all for being with us tonight and have a blessed rest of your night scottiegirl says to MadDScout(7:27 PM): Thank you Pat! Great newstime! MadDScout says to BGG(7:27 PM): (handshake) MadDScout says to scottiegirl(7:27 PM): (handshake) Thank you Marie BGG says(7:27 PM): (keep in mind - we have been close before - the CBI had planned on 2013?? sometime and put it off). According to the SIGR Report. Philidius8848 says(7:27 PM): *smile* scottiegirl says to BGG(7:27 PM): Thank you for your wonderful closing words! Lifted my spirits for sure and boy, did I need that! BGG says to scottiegirl(7:27 PM): We are close. BGG says to scottiegirl(7:27 PM): REAL CLOSE. Holly1 says to MadDScout(7:28 PM): s71 scottiegirl says to BGG(7:28 PM): s71 pacella says(7:28 PM): THANKS FOR THE GREAT NEWS AS ALWAYS YOU DO A GREAT JOB