Millionday roundtable 3/4/15

by **RoyBoy** Wed Mar 04, 2015 6:19 pm

Millionday: Said the Iraqi Central Bank, on Wednesday, he has a tendency to increase gold reserves basket, stressing that he shall move the basket almost daily. The governor of the bank on the Keywords in an interview with Alsumaria News , "The central bank has tendencies to increase the proportion of gold in reserves Bank of hard currency basket ", adding that" procurement issue and moving under constant study. "

Millionday: NOTE -- CBI WILL BE ADDING TO GOLD RESERVES VERY OFTEN TO SUPPORT THE VALUE OF THE DINAR

Millionday: He added Keywords that "the Bank shall move the basket almost daily to stand on currencies and interest rates and the bond market and stock prices and the value of gold.

Millionday: NOTE -- WHOOOPOW

Millionday: He announced the World Gold Council , in January 2015 that Iraq was ranked 37 globally in gold and fifth Arab reserves, which amounted owned by Iraq of gold 89.5 tons. and decided the central bank in January 23, 2014 SEC variety of alloys of pure gold ranging weights between ( 50 g and 1000 g) to sell to dealers in gold, investors and segments of society wishing to do so in Iraqi dinars.

Millionday: NOTE -- THEY HAVE HUGE RESERVES TO HOLD THE VALUE OF THE DINAR -- THAT IS WHAT RESERVES ARE FOR -- HARD BACKED VALUE AND CONFIDENCE IN THE CURRENCY

Millionday: and founded the CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies being sessions daily for buying and selling currencies.

Millionday: SO AS WE SEE AGAIN THEY ARE REMINDING ONE MORE TIME THAT THEY ARE INDEPENDENT AND ALSO HAVE THE ABILITY TO SET THE EXCHANGE RATE -- LOVE IT --

.VIP.clay: if bonds r for deficit y rv and thought to sell bonds they had to be internl currency w/a value

Millionday: THE SAME REASON THAT COUNTRIES INVEST AND TRY TO RESOLVE THEIR DEFICIT EVERYWHERE -- IT IS MONEY OWED

jarhead: continue clays ? if bonds cover budget then why desperate for Rv

Millionday: SO THEY CAN REMAIN IN GOOD ECONOMIC CONDiTION TO DEVELOP THE COUNTRY AND HAVE THE FUNDS TO DO IT -- TO BE ABLE TO PAY THEIR BILLS AND RESPECT THEIR AGREEMENTS ET

.VIP.clay: but to sell bonds do they need to be internal recognized

Millionday: IT DEPENDS ENTIRELY ON WHO THEY ARE SELLING TO AND IF IT IS A GOV THEY CAN HOLD THEM FOR INVESTMENT/DEVELOPMENT FUNDS BUT IF TO THE PUBLIC OUTSIDE OF IRAQ -- IT IS AN ECONOMIC DEVELOPMENT TOOL --

Pauly.want.a.million: So, then is this a good news for us, holding dinar and wanting to exchange, if they can cover the budget with bonds?

Millionday: THIS IS JUST ONE WAY THEY INTEND TO AFFORD/MINIMIZE THEIR DEFICIT -- IT IS ALWAYS BETTER TO NOT HAVE TO PAY INTEREST ON MONEY YOU NEED

Holly1: I have a question if you can answer what is Baathification law and is it important .. I just posted it in forum ... thank You . if you can explain

Millionday: I HAVE NOT READ IT SO IT MAY HAVE CHANGED ---

Millionday: CBI IS STATING THAT THEY ARE TRYING TO HANDLE THEIR DEFICIT AND ALSO INCREASE WHAT THEY HAVE TO BACK THE VALUE OF THE DINAR ---- MAKE IT BETTER AND MORE VALUABLE ---- THAT IS THE WHOLE PICTURE OF THE REPORT

jarhead: we're just skeptical mam sorry we're a lil gun shy

Millionday: THERE IS ALOT OF NEWS THAT WILL CHANGE THAT -- I JUST NEED TO BRING IT -- SMILE

Millionday: Called on the Finance Committee and an expert in economic affairs the central bank to the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies and not rely mainly on the U.S. dollar to build a diversified economy and a flexible retractable face of economic crises present and future.

Millionday: NOTE -- CBI WANTS TO DIVERSIFY THE ECONOMY BY NOT PAIRING WITH THE US DOLLAR BUT WITH THE SDR (BASKET OF CURRENCIES) -- SMILE

Millionday: READ EVERYWORD>>Said a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri The the main currency in the country is among the dinar offset by the U.S. dollar, which is considered the base currency in the trading process locally and globally because of its economic power on the most influential countries in the world ».

Millionday: NOTE -- THE US DOLLAR IS WHAT OIL IS PURCHASED WITH SO THEY WILL USE IT FOR TRADE BUT ARE GOING TO BE PEGGED TO SDR AS SUPPORT TO MINIMIZE THE FLUXUATION OF THE DINAR VALUE

Millionday: He added that «having a basket of multiple foreign currencies greatly help to ensure resilient economy can cope with financial crises and their impact on the dinar National, where he owns a currency trading many advantages, including maintaining the rate of real exchange in the face of financial shocks and the decline in the value of the currency and avoid any exaggeration in the rate of exchange as well as the relative stability of the exchange rate of the currency,

Millionday: NOTE -- PEGGING TO THE SDR WILL ADD STABILITY TO THE EXCHANGE RATE AND MINIMIZE ANY FLUXUATION THAT MAY HAVE BEEN AVOIDED

Millionday: as the rise in the value of a particular currency in the basket means lower other currencies for that currency and vice »Yasiri that« the general acceptance and how widespread the circulation of the U.S. dollar put data by which dispense with the other currencies such as the Japanese yen and the euro European and other, which helped on their laurels citizen in a single currency more assurance than others ».

Millionday: NOTE -- SOMETIMES ONE CURRENCY IN THE BASKET MAY NOT BE DOING AS WELL AS ANOTHER -- SO THIS WIL HELP EVEN OUT THAT SHOCK WITH THE VALUE OF THE DINAR

Millionday: Confirmed Yasiri that« the central bank bears the responsibility of turning financial dealings of the monopoly of a particular currency for the stock market to the entry of foreign currencies competition through the activation of its own laws and the Order for more than 5 different currencies representing the states leading economic and economically strong »and pointed to«

Millionday: NOTE -- CBI PLACES THE ISX CURRENCIES WITH THEIR OWN REGULATIONS

Millionday: the necessity of diversifying reserve national from various world currencies in addition to the coins of other private gold to support the Iraqi dinar and increase Rsanth financial and reflected significantly on the level of improvement in the economy of the country.

Millionday: NOTE -- DIVERSIFYING THE ECONOMY SUPPORTS THE VALUE OF THE DINAR AND HELPS WITH THE COUNTRY`S ECONOMY

Millionday: He pointed out that« the exchange rate in any state depends on the balance of payments which arise from factors affecting the presentation of the national currency and the demand for them, any surplus in the balance of payments of the state leads to increased demand for the national currency, which leads to higher disbursement versus other foreign currencies and vice versa ».

Millionday: NOTE -- THIS IS HOW THE MARKET ECONOMY IMPACTS THE CURRENCY -- SUPPLY AND DEMAND

Millionday: Turn the economic expert Abbas Bahadli that» choose Other currencies represent a basket of global economic must be on the basis of serving the national economy and the movement of trade and mutual investment with countries with an economy strong financial, and considers this step to enhance the value of the Iraqi dinar, and reduce the potential risks to the local currency as opposed to linking them in a single currency as dollar ».

Millionday: NOTE -- THIS IS THE BENEFIT OF USING THE SDR AND NOT JUST PEGGING TO THE US DOLLAR AND FLUXUATING WITH IT

Millionday: added that« increase and diversify foreign currency and use it as a reserve pick it economically by the Central Bank of Iraq represents the addition of monetary policy and help to enhance the value of the dinar by increasing dealing with other countries

Millionday: SO AS WE SEE THEY ARE DISCUSSING THE ENTRY OF THE DINAR INTERNATIONALLY AND HOW THEY ARE GOING TO DO JUST THAT -- THIS IS TALKING ABOUT AN INTERNATIONALLY RECOGNIZED CURRENCY BECAUSE IF IT WAS NOT RECOGNIZED AT THE TIME OF THE STEP --- THE STEP WOULD NOT OCCUR

larrykn: so they are saying by using the SDR they can come out with a higher rate and hold it better then pegging to the usd

Millionday: THEY ARE SAYING THEY WILL AND OTHERS WILL HAVE MORE CONFIDENCE

crank7: What other countries are in the basket of currencies?

Millionday: >>Today the SDR basket consists of the euro, Japanese yen, pound sterling, and U.S. dollar
Millionday: IF THE DINAR IS USED IN THE SDR -- THAT WOULD MEAN THEY ARE A VERY STRONG CURRENCY AS WELL -- THAT WOULD BE NICE
Millionday: KUWAIT IS NOT PEGGED TO THE US DOLLAR -- IT IS PEGGED TO THE SDR

Tex1: When they receive us dollars for oil , they change to dinars , are they possibly destroying some of the dinars to get them out of circulation

Millionday: THEY EXCHANGE THEM AT CBI AND KEEP THEM OFF THE STREETS -- WHEN THEY EXCHANGE FOR THE NEW DENOMS THEY WILL DESTROY THE DINAR AT THAT POINT ACCORDING TO REPORTS

Papatom: so with all the above paragraphs, regarding the "basket of gold, currency, bonds and now SdR's ... is it the right impression that iraq is saying theey will determine the value of their currency based on thier assets not based on how they peg to any other one currency? and a follow up question would be ....does this look to you like they are concerned about INFLEXIBILITY of the value of the dinar when it comes out?

Millionday: NO -- IT IS MY IMPRESSION THAT THEY WANT THE DINAR AS STABLE AS POSSIBLE
Millionday: IT IS VERY NICE TO KNOW THAT THIS IS WHAT THEY ARE WORKING ON -- THINK ABOUT THAT EVERYONE -- WHOOPOW

thomas1: please do not flip out on me ...millionday they have no money are they using oil credit until the rv to stay a float money wise

Millionday: THEY HAVE MONEY HUN - BUT THEY COULD BE USING OIL CREDIT AS WELL

Kal: Do you think this is all propaganda to keep the people holding on the dream of RV soon? Honest question. It seems every week brings new....hold ups. Is this the CIA feeding us **** because over 8,000,000 us citizens are vested in the Dinar? It wouldn't be anything new...

Millionday: I DON'T THINK THAT AT ALL -- I JUST DON'T HAVE A DATE OR RATE

Millionday: Governor of the Central Bank announced on the Keywords, to delete the zeros existing project, as pointed out it was given the green light for its implementation, he stressed that this process will be preceded by regulatory and administrative operations.

And he said: "The project to delete the zeros is based was put into practice, and we gave the green light to start with," noting that "The project needs a period of time may extend to two years or more."

Millionday: NOTE -- CBI HAS THE GREEN LIGHT TO MOVE FORWARD WITH THE REMOVAL OF THE THREE ZERO PROJECT AND IT WILL TAKE ABOUT ONE TO TWO YEARS TO COMPLETELY GET ALL THE BILLS IN THEY ESTIMATE SO THE NEWS IS ABOUT THE ACTION OF MOVING FORWARD

Millionday: Keywords and added that "this process will be preceded by regulatory and administrative processes and the form in which it will start moving in," adding that "the Bank began creating currency models and training of cadres to it."
The Iraqi Central Bank announced in May 2012 that the process of deletion of zeros from the country of Iraq will be transferred to the trillions of billions, indicating that the process of replacing the currency needs to be approved by parliament.

Millionday: NOTE -- THE PROCESS OF TRAINING AND ALL OF THE STEPS HAVE BEGUN AS CBI HAS PLANNED AND NOW THAT THEY HAVE RECEIVED THE GREEN LIGHT -- THEY ARE DOING EVERYTHING THEY CAN TO MOVE FORWARD
Millionday: He accused the central bank, in (12 September 2011), government agencies obstructing monetary reform and vowed to persecuting, blaming those actors responsible for exposing the financial interests of the country to danger.

It is noteworthy that some economists believe that Iraq is not ready at the moment to delete the zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as the stability of the economy.

Millionday: SO THEY WANTED TO TAKE THESE STEPS IN 2011 AND WERE NOT PREPARED SO NOW THEY ARE ACCORDING TO CBI RELEASED SATTEMENTS

Danalivin4HIM: indicating that the process of replacing the currency needs to be approved by parliament. So they must seek approval?

Millionday: IMO -- THEY HAVE RECEIVED IT DUE TO THE PULL OF THE 50S AND ALSO THE ANNOUNCEMENT BY GOV THEY WERE READY AND ALSO THE STATEMENT THEY HAVE THE GREEN LIGHT -- BUT WE WILL BE LOOKING AT OTHER REPORTS AS WELL

Pauly.want.a.million: This information on the "green light" has been on the web since yesterday. I mean it sounds exciting... but do we have any indication that it means anything, really?

Millionday: I BROUGHT IT BACK IN SO OTHERS CAN SEE IT -- THE INDICATION IS WHAT THE ACTIONS ARE THAT WE CAN SEE BEING TAKEN -- I CAN GIVE YOU NO PROMISES AND WON'T

TONYV: MD, thank you for the SDR Peg info. Any idea which regulatory and administrative processes Keywords is referring to in the article above?

Millionday: THAT IS THE REFORMS THEY HAVE WORKED ON WITH THE ECONOMIC REFORMS -- SO ALL REFORMS WILL BE DONE AT THE SAME TIME AND THESE PARTS WOULD BE THOSE THAT COMPLY WITH THE ECONOMIC REFORMS IMO

Onthewings: If CBI has been given the green light to go , why are they just saying they have the green light and not just going ? I don't understand why they are just saying and not doing !

Millionday: THEY PROBABLY HAVE OTHER WORKS THEY NEED TO DO TO MAKE IT SUCCESSFUL ---

tman23: he stressed that this process will be preceded by regulatory and administrative operations..... Preceded defined as.... come before (something) in time. So regulatory and administrative operations will be dealt with first.......And the question is just how far into it are they ??...... Quite frankly, the CBI governor can appease the GOI by saying "were working on it".......and we know Moshen's working on it administrative record under Maliki.......

trout1: can we saftly assume the US would not want to see the depeg

Millionday: THEY ARE PART OF THE SDR TOO -- SO I WOULD ASSUME THE BENEFIT WOULD BE FOR THE US LACK OF HUGE FLUXUATION AS WELL

AMM: is the "green light" more of a final stamp of approval?... as in Iraq said they want to delete the zeros and the cbi said well, u need to get ur ducks in a row and here's a checklist!.... Iraq checked off all the boxes and went back and said they've completed what they were told and the cbi said "ok, NOW you have the green light!"

Millionday: YES AMM -- THAT IS EXACTLY HOW I TOOK IT AS WELL -- GREAT POINT

Millionday: SO MANY ?? IT TOOK ALL OF RT BUT I UNDERSTAND -- VERY HUGE NEWS THAT WAS -- THEY ARE HEADED FOR INTERNATIONAL RECOGNITION BY PEGGING BECAUSE THAT IS WHAT IT SIGNIFIES -- SMILE

Millionday: Central Bank announced a reduction of fines imposed on banks by half the proportion of {200%} to {100%}.

According to a statement of the bank newspaper rectitude received a copy of it "later Bamamna No. number 12/684 in 12/02/2013, which included the imposition of fines on banks, according to the specified percentages and that's where the imposition of fines was to evaluate the performance of employees in banks and

Millionday: NOTE -- THEY DID HAVE FINES OF 200% BUT NOW 100%

Millionday: reassure the public the number of papers received by the completion of of the banking system and to the approval of the governor decides to reduce the fine imposed on the irregularities {shortage, and various foreign securities} discovered in Eyadaatkm ratio of {200%} to {100%}.

"The decision to suspend the fine to ensure counterfeit papers discovered by {500}% make up the shortfall with effect from 03.01.2015" .

Millionday: SO HERE WE SEE ANOTHER DATE THAT SAYS MARCH 1ST AGAIN --

VIP.clay Millionday: what does march 1st represent...confused...Y IMPORTANT

Millionday: THE 50`S AND SO MANY MORE THINGS THAT WE HAVE SEEN

awesomedtl: so they were suppose to fund the cards for outta country but yet they got another loan to just pay in country cards?? seems like they are kicking the can down still,, also hopefully we arent sitting here a month from now about this green light>> like we were excited about budget

Millionday: I DONT FEEL DOWN TODAY AND AM EXCITED SO DONT SEE IT THAT WAY

Millionday: Baghdad
showed the central bank governor on the Keywords, on Tuesday, was surprised at the statements of some officials about the low reserves of hard currency, stressing that Iraq does not suffer from any decline and has good revenue and there are no concerns, as pointed out that the Iraqi dinar is covered by 150 % of hard currency. Alak said in an interview for the Sumerian News, "The level of coverage of the Iraqi dinar from the hard currency reserves of 150%", surprising at the same time "of statements by some officials of the bank is on the low reserves of hard currency."

Millionday:
Keywords and added that "the Bank reserves of hard currency is very good and does not suffer from this problem and will not suffer, considering that Iraq has an important source of resources to the dollar, a crude oil sale." The Finance Minister Hoshyar Zebari, in February 26, 2015, has said the reserves Central Bank dropped now to reach $ 68 billion, after rising during the previous period to more than that. The Central Bank of Iraq, in October 2013, for the arrival of the size of its reserves of hard currency to 76 billion and $ 500 million, and that it represents the highest rate up the Bank of the currency in the history of Iraq.

Millionday: LET ME SAY THIS --- THERE IS NOTHING BUT POSITIVE FINANCIAL STATEMENTS -- THIS IS GREAT

Danalivin4HIM: Whoopoow the highest rate up the bank of the currency in the HISTORY of Iraq!!!

Millionday: THEY ARE TALKING ABOUT HOW TO COME OUT INTERNATIONALLY AND PREPARING FOR IT

Millionday: WE HAVE NEVER SEEN THIS BEFORE -- THIS IS HUGE

Millionday: IF YOU ARE NOT EXCITED --- FIND SOME SMILE

Millionday: THAT IS IT FOR TODAY -- TONIGHT WE WILL HAVE MORE CONTROL AND I WILL BE ABLE TO BRING MORE NEWS

Millionday: I AGREE -- NEWS OF THE MILLINUM

by **Ponee** Wed Mar 04, 2015 6:38 pm

OH wow, so there is ANOTHER Chat tonight. Geeze talk about beating a dead horse. Honestly, how do they find soooo much to talk about in regards to the articles? I guess people just really need to feel they belong to something.

by **RoyBoy** Wed Mar 04, 2015 7:37 pm

Called on the Finance Committee and an expert in economic affairs the central bank to the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies and not rely mainly on the U.S. dollar to build a diversified economy and a flexible retractable face of economic crises present and future.------ I really wish they would consult with me 1st, It's so easy FOREX!!!!!!!! lol Yes Ponee, M W F round table for the after noon crowd

Millionday roundtable 3/4/15

Millionday roundtable 3/4/15

Re: Millionday roundtable 3/4/15

Re: Millionday roundtable 3/4/15