Millionday Chat - 5/29/12

Millionday chat 5/29 [millionday] This will lead to the Erbil HCL and the article 140 second stage being done

Baghdad (news) MP for the Iraqi bloc white Kazem al-Shammari, the possession of the prime minister and a document signed by the President of Kurdistan region Masoud Barzani and President Jalal Talabani, determine the administrative borders of the region, noting that al-Maliki will carry out the demands of the Iraqi List, and that the next crisis will be among the Kurds and the Arabs of the difficulty of the implementation of Article (140). Al-Shammari said in a statement (of the Agency news) on Tuesday: The political process will see a breakthrough to the crisis with the end of the holiday legislature because of the flexibility shown by the National Alliance, and in particular Prime Minister Nuri al-Maliki with its partners and awareness of all parties to the seriousness of the current crisis.


[millionday] The declaration of the borders was the missing piece to the puzzle -- meaning that the HCL and the Erbil and the article 140 relied on this agreement !!!



al-Maliki with its partners and awareness of all parties to the seriousness of the current crisis.



[millionday]The last stage of the article 140 implementation is the vote of citizens to determine which area they wish to belong
[millionday] the reason being that it has to be determined where the boarders are for the many laws /agreements to be put in place and move forward
[millionday] Yes this is fantastic news !!! as if the big rock has been pushed away

[millionday] This is major economic news and we are going to read it together

[michael] Why didn't Maliki give Allawi his position and have the ministers seated? I don't see the connection between article 140 and the rest of the Erbil agreements....

[millionday] It is talking about a massive global meetying that took place today with all bank leaders !!!!!
[millionday] The law of oil and gas cant be applied if the borders and whos budget of profit and sales and export ect is not written -- the article 140 is the ownership of the real estate and without borders that is blind
[millionday] This means that they have borders to actually activate the laws in place micheal
[millionday] Ok so here is this economic news

[millionday] As it seeks private Iraqi banks to find ways of widening the circle of its activity in the provision of banking services collide obstacles laws and red tape, ugly and bureaucracy in dealing with the institutions of the state, but this time it has had a chance gold could offset the wastage of time to no avail when offered the largest financing institution of international assistance to promote by the private banking sector. this Alfrshhaoha Banking Conference organized by the Association of private banks in Iraq in cooperation with the International Finance Corporation (I fc) wing of the financial International Monetary Fund recently held in Arbil, with the participation of 48 of the representatives of the private banks. To shed light on this conference met with the "morning "with the Executive Director of the Association of private banks Abdul Aziz Hassoun, who explained to us that the conference dealt with two topics focused discussions around them throughout the day.
[millionday] The first topic is how to open ports to deal with the outside world banks in the area of ​​empowerment of Iraqi banks to open letters of credit guaranteed by this institution, which has 289 banks spread across 92 countries. The second issue concerns the possibility of this institution in the investment of financial surpluses by contributing to the capital of Iraqi banks. He Goldfinch that the level of representation for this institution in the conference included a panel of Alkhbraalmsúlan in the Middle East, Europe and the Near East have provided detailed analyzes on the Foundation's programs in the areas various possibilities and requirements necessary to provide support to the Iraqi banking system and assist in the expansion of the global financial market and strengthen its role in financing economic activity in Iraq.

[millionday] The team listened to the main activities undertaken by the banking system in Iraq, where the research dealt with by the Chairman of Board of Directors of Bank of the UNESCO International Wadi Handal to the experience of some private banks and affiliated companies under the banner of bank guarantees. Financing Small and Medium Enterprises in Iraq, which has achieved remarkable successes. He hinted Goldfinch that talks and meetings minor took place between some banks and a team of experts to agree on a program to communicate and to activate the project, which Sbacr him by approaching the institution for a number of private banks to agree to develop mechanisms for cooperation and work together.

[millionday] . He Goldfinch at the end of his statement that the prospects that have emerged During the conference indicate that the organization prefers to classify the banking exclusion of dealing with banks bearing the characteristic family is not by the institution only Anmamn by the parties to the global financial markets as well, referring to the need to pursue this type of banking style of governance and good governance and the separation of management from ownership and use international standards in banking in order to be treated applicable. To that occurring for the morning banking expert and remains exclusively The Board of Directors North Bank Nawzad dry about the importance of such forums aimed at developing the performance of the banking promise of this conference the opportunity golden especially in the handling and dealing with one of the largest financial institutions in the world, including Athih us to benefit from

[millionday] goldfinch and the banking conference of the world can never be a bad thing -- they are working on the activation t the world -- here is the rest
[millionday] He said that this institution came to us with ideas may open doors to banking relationships with banks in the world and this in itself is a major goal to achieve, how we seek to us if the opportunity came to us without the trouble of Auged other words, how to deal with this opportunity? Says Nawzad dry we starting to be careful with this opportunity no to be thinking a specific including raised us from the ideas and work within its borders in order to Anfhl and lose the opportunity, what we need from this institution at this point that we learn how we are dealing with such a great activity in dealing with the Foundation financial of this size to be any benefit from their expertise and training of our staff bank on how to deal with international banks to avoid the mistakes and losses that may result due to inexperience eight race has no significant financial capabilities we need to loans and aid.

[millionday] He noted that the Iraqi private sector by buying currency auction, organized by the Iraqi Central Bank amounted to $ 150 to $ 280 million a day and since approximately four years, but these amounts indicate the possibility of the Iraqi economy and the capacity of the Iraqi private sector? But let me show you something else that the bank grows and expands through its services to the business community and the Iraqi private sector and this requires opening credits parallel of what is owned by the private sector of the potential mentioned in the context of my talk and to meet the requirements of basic and here are unable to banks to cover large orders because of their dealings with banks of neighboring countries who can not afford the size of the economic but also provide you with 35 percent in the coverage of credits makes the Iraqi banks set conditions difficult in dealing with the Iraqi trader for no reason

[millionday] , but because of the inability of banks around the guarantee of our needs, so find in this institution the opportunity to expand ceilings reliability guaranteed by banks World of the institution, amounting to 289 banks and are available in various countries of the world. revealed dry for that this institution gives you immunity and protection of Chapter VII sanctions, and this is the biggest asset of the banking sector in particular and Iraq in general because it allows you to dispose of your money freely and away from the contraband. acknowledged dry that there are problems face the banking sector in Iraq, mostly due to poor experience in the banking performance, especially when dealing with global financial institutions and said that, I find it is important to starting to take advantage of Almasshhzh in the training of cadres bank on the nature and form of handling and dealing with it in the first stage and build bridges of relationship that qualify banks, and
[millionday] when that is possible to request loans and support required, and this way we hope not to mis and the loss of the opportunity and thus the reputation of banks well before the international banks and ease of handling. He noted that the banking relationship is limited and restricted with the banks of Jordan, Lebanon, Kuwait, UAE, Bahrain and more recently with Turkish banks and the banks alone do not cover the size of the Iraqi economy, as I require and need the opportunity to showcase the investment (I fc) in providing assistance and promote the active participation of the private banking sector to the level of ambition to participate in the process of nation-building and economic development objectives.
[millionday] the end

[millionday] The result of this is that they are pushing for the banking industry to go global now --even before sanctions are lifted


[millionday] To use them as a protection in its opening act so to speak
[Dianne777] so rv ing before the lifting
[millionday] YES , -- Goldfinch sees it as a way to get their feet wet without losing at this point

[DT N AZ] sounds risky to the world banks, am I wrong?
[millionday] Not in my opinion -- it seems that the protection would create a net for them to get into global loans investments ect
How does that really work million?

[millionday] I have to say that I hadnt thought of it like that either
[millionday] talking about expanding the banks to international investments open to the world -- to invest and loan as a choice in the market -- which is a good idea
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[sunnyca] Millionday wouldn't they need a tradeable currency?
[millionday] Yes -- or the value change would wipe them out in the near future
[baggr42] This seems to go hand in hand with the report last week of the inyernational training for the banks
that is great news to see that world conference all about Iraq and its economic reform --
[millionday] have to say very exciting


[millionday] This is a refusal by parliament to economic slowdown

[millionday] Committee announced the economy and investment in the Iraqi parliament, rejected the government's request to wait in the application of tariff law which was passed in 2008. The Iraqi government has said it called on the House of Representatives to wait the application of tariff law scheduled to commence by early next month for non-completion of the foundations necessary for the successful application of the law. He said the Commission's decision Mahma Khalil told the Kurdish news agency (Rn) that "there is a demand for the Government of activating the tariff law in January of this year has been postponed its application at the time." and explained that

[millionday] the request of the Government of the House of Representatives be patient as the application of tariff law to be in the next month is not acceptable, and we fear that the government may come under pressure from traders and some states to reverse the application of the law. "the Ministry of Finance has decided last March to begin the application of tariff end of June next after that for the last year for more than once because of the demand by some countries and traders. and activate the new tariff law to cancel the old law is the subject by the civil administrator of Iraq after 2003, Paul Bremer, which provides for the payment of 5 percent tax on all goods imported from outside the country
[millionday] So the postponement is not approved !!!!
[millionday] Very good sign that things are in place or expected to be
[millionday] this is fun bringing good news !!

[millionday] Suggested an expert in banking as a beautiful, set up a development cooperative Iraqi bank run mentality of the private sector to contribute to the process of economic development of the country by facilitating the granting of loans and advances to the citizens. Jameel said: The economic development need to be banking system global modern and Iraqi banks two branches of public and private lacks development technological and experiences good and mechanization of modern for more than three centuries of time, making the banks face great difficulties in the operations of the advances and loans to citizens. He's (news ) that the general view of Iraqi banks, "purely commercial" any thinking only how to achieve profits by increasing the value of the interest financial loans granted as well as it was seeking guarantees "impossible" from the borrower pawns (the property or plant or any property),

[millionday] which leads to a difficulty in the granting of financial loans to promote economic development. He noted that the necessary urgency to the establishment of an Iraqi bank development a development cooperative with a capital of not less than (5 to 10) billion dinars is managed by the private sector a half most of the board of directors consists of a special takes it upon himself to introduce the methods of modern banking and facilitate the granting of loans and advances, and puts scientific bases for the development of the Iraqi economy in various sectors of industrial, agricultural and tourist
[millionday] So this is a huge part of the economic reform package for their economy
[millionday] this is very important to see -- activating loans, grants ect. is the means of growth in the private sector -- very cool news



[millionday] Wow this is great today to see the borders signed -- cant seem to get the smile off my face -- many things will move forward due to it and the chance of this not getting done would have been the risk of this coming forward for us -- so this is great for all the checkmarks we needed to see


[millionday] Check this out !!
[millionday] Pretty amazing to see the timeline and the parties involved

[millionday] The Ministry of Foreign Affairs of the existence of a tendency to establish a free market with Kuwait in support of trade exchange between the two countries. He said Iraq's ambassador to Kuwait, Mohammad Hussein Bahr al-Ulum in a telephone conversation with the "news center for the Iraqi Media Network:" Iraq is planning to establish a free market with Kuwait in support of business between the two countries in the next phase. "He added Bahr al-Ulum, "Iraq and Kuwait are working to end the effects of past and start a new page focused on developing trade and economic transactions between the two countries." It is said that the Kuwaiti Embassy in Iraq has recently announced that 50 companies from entering the Kuwaiti to work in Iraq at the end of this month.
millionday, Do we have any idea how long the current batch of meetings will last so we can begin to speculate about when the NC (announcements) will be?
[millionday] The government consultant Abdul Hussein al-Jabri, had announced in a statement to the Agency (Rn) last year that "Iraq expressed initial approval of the establishment of a free market with the Kuwait border near Safwan to promote trade between Baghdad and Kuwait. " Al Jabri said that "the proposed shown by more than 600 Iraqi and Kuwaiti business to establish a free market similar to the free market between Iraq and Jordan and Syria, which would contribute to the recovery of the commercial reality between Iraq and Kuwait," he that "when you get the approval of the Kuwaiti government on the two sides will customize the right place to set up a free-market near Safwan," noting at the same time that "the Iraqi government is working to expand trade with Kuwait and address the problems the relationship between the two countries through dialogue and compromise, without affecting the others. " Government statistics confirm that the volume of exchanges with Kuwait reached $ 250 million annually

[millionday] I would estimate by my research that we will see the date set now due to all of this moving forward --we should see a date set for next week !!
[janiem] millionday - a date set for what?
[millionday] The national conference

[jimplants] millionday it says 50 companies the end of this month free trade GREAT you know they wont be trading camels for money


[millionday] The news is that it was Barzani and Talabani not signing the border issue to move forward -- left it all on the back of Maliki -- movement will take place now
[millionday] it looks like they are shooting for the end of June --- we shall see if all moves forward with no glitches
[millionday] whoooop whoooop!!!

[millionday] I thought that too but it looks like with the go ahead from GOI to move forward with economic reform and signed borders -- we should see all of the issues that Maliki has resolve
[millionday] And think of it lie this --- he was right demanding the borders in print -- the country would lose without ythat established in my opinion


[lorijeanmarshall] millionday Well I am hopeful as I am everyday that this may be what we need to get over the hump and finally be done with this.

[millionday] I think that we just saw a huge lift over a lump

[millionday] This is the most solid move we have seen in a long time !!!!!







[millionday] This is signed by Barzani and Talabani established borders -- so HCL Erbol and article 140 can move forward and rations distribution of payments -- all gov programs

[millionday] July is huge move for minstery of interior to take over complete defense so we should see the committee announce the ministers upon return of parliament if I had to give a guess
[millionday] This is a great news day in our investments !!!

Awesome! !! Come rv!

What djc65 posted is NOT awesome.

Somebody please debunk it.

It's one person's opinion. CBI, GOI budget documents, and other official documents show a likely rate ranging from around $1.40 to a little over $3.00. The question begging is if djc65 feels that way, why are they invested? Of course given that this is their first post maybe they came here just to "save us" from ourselves.

Hogwash- Whenever I asked someone why they bought dinar, they could never answer me- Just goes to show you just how much they don't know- Because if they knew half of what they 'think' they know, they'd all be Einsteins, and I guess that ain't happenin-

With all of the trillions of dinar floating around all over the planet, I have never thought that they could, would, or should revalue to a 400,000% increase of value. It doesn't make good sense to me in any shape form or fashion. Now, if they were to give a sharp bump of maybe .01 to a dollar, it would bring it in by the droves. Once most of the printed "monopoly money" is brought back in and destroyed, a new version of the currency (minus the zeros) is printed, then rise to the value of the neighboring countries. It will probably take another 8-10 years, but who's counting?
Hope all the goos are right and I am wrong. But, ......

...stuff said.

bigdaddytim wrote:With all of the trillions of dinar floating around all over the planet, I have never thought that they could, would, or should revalue to a 400,000% increase of value. It doesn't make good sense to me in any shape form or fashion. Now, if they were to give a sharp bump of maybe .01 to a dollar, it would bring it in by the droves. Once most of the printed "monopoly money" is brought back in and destroyed, a new version of the currency (minus the zeros) is printed, then rise to the value of the neighboring countries. It will probably take another 8-10 years, but who's counting?
Hope all the goos are right and I am wrong. But, ......

...stuff said.

I hate to agree, Big Daddy Tim, but what you say makes sense. I figured out if we get $1.00 it's 118,000% increase. That's really unheard of in the world of finance. I think the only thing we can hope for is that Shabibi was able to bring in trillions of dinar and cut down the money supply. Then, maybe, we can get some money.

bigdaddytim wrote:With all of the trillions of dinar floating around all over the planet, I have never thought that they could, would, or should revalue to a 400,000% increase of value. It doesn't make good sense to me in any shape form or fashion. Now, if they were to give a sharp bump of maybe .01 to a dollar, it would bring it in by the droves. Once most of the printed "monopoly money" is brought back in and destroyed, a new version of the currency (minus the zeros) is printed, then rise to the value of the neighboring countries. It will probably take another 8-10 years, but who's counting?
Hope all the goos are right and I am wrong. But, ......

...stuff said.

Are you saying if we hold on to the IQD we hold now for another 10 years...then cash in, we will get the millions then?

P, I would love to say that. Then we could at least walk away and not worry about it for another ten years or so. But, the sad part is we are going to have to keep watching so that we can at least exchange our paper for the new paper when it comes out. I have a bunch of the old Sadam Dinar that ain't worth the price of Charmin. (and a lot less "comforting" I might add)

bigdaddytim wrote:P, I would love to say that. Then we could at least walk away and not worry about it for another ten years or so. But, the sad part is we are going to have to keep watching so that we can at least exchange our paper for the new paper when it comes out. I have a bunch of the old Sadam Dinar that ain't worth the price of Charmin. (and a lot less "comforting" I might add)

Are you gonna keep those Sadam ones?

Why not? Maybe they will be worth more as a collector's item once the new dinar are worth the millions!!

bigdaddytim wrote:Why not? Maybe they will be worth more as a collector's item once the new dinar are worth the millions!!

Now that is double dipping lol.