WEALTHWATCH  1-13-16
Post From Wealthwatch.world  Chat Room
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Wealthwatch  Wednesday  Chat 1-13-16   Part 2 of 2
 
chattels: " The political and security situation taking place in the country to create turmoil in buying and selling operations. "The government is planning, according to a memorandum of the International Monetary Fund, to finance the deficit in the balance of payments of withdrawal from Iraq's reserves of foreign held by the central bank, including make it go down to $ 43 billion in 2016 from 59 billion at the end of October Almadi."
 
loveit2: '@chattels' GM ....seems we got some good news last night ?
chattels: The government resorted to foreign reserves to cover the deficit in the budget
 ~~~

WEALTHWATCH  1-13-16
Post From Wealthwatch.world  Chat Room
News With Links & Discussion
 
Wealthwatch  Wednesday  Chat 1-13-16   Part 1 of 2
 
chattels: How many of us will retain or hold Iraqi money if there is an profitable exchange opportunity ? The IQD is now comparatively worthless for the same reason(s) that many or most of us would exchange immediately without retaining such currency. IMO. Lack of stability.
 
chattels: How Much Money is ISIS Making from Antiquities Looting? JANUARY 12, 2016 gatesofnineveh.wordpress....
https://gatesofnineveh.wordpress.com/2016/01/12/how-much-money-is-isis-making-from-antiquities-looting/
 
chattels: Infallible stresses the importance of justice to the provinces that suffered neglect and marginalization :: 2016/1/12 15:10 * Infallible stresses the importance of justice to the provinces that suffered neglect and marginalization [Baghdad-where] the President Fuad Masum,
 ~~~

Millionday News Time 1/13/16 whoopoow news
 
 
WELCOME TO DINARUPDATES.COM MILLIONDAY NEWSTIME
 
Millionday: MANY HAVE BEEN WORKING TO KEEP EVERYONE UPDATED AND ALL IS SO APPRECIATED BY
ALL -- SO MUCH NEWS HAS BEEN BROUGHT IN LATELY IT IS GREAT
 
Millionday: AS WE KNOW WE HAVE HAD MANY VISITS AND TRIPS
  Millionday: SOME HAVE BEEN ABOUT THE ISX
 
Millionday: I WANT TO LOOK AT THE NEWS ABOUT THAT TO BEGIN
  Millionday: FOLLOW THE FIRST PART AS WE LOOK AT SOME CHANGES
 ~~~

TNT:

Update:  Iko Ward:  Verification coming out of left field. Still waiting on my guy. Sit back and smile. It's not for me to announce this. But think of yourself as sitting in the chamber, waiting for the big guy to come and do his thing. Tonight.

Earlier:

Iko Ward : Forex...1054.2....OH YEH, UH HUH, THAT'S RIGHT, THAT'S RIGHT

I can't keep up with you guys anymore. Tonto, looks like our work here is done. Hmmm Chemosabe. I told you never to say "Hmmmm"

Guys, I'm waiting for a text sometime after ten. When it comes I'll check in. If it doesn't come I'll be too embarrassed to check in.

crude oil at 29.98! Oh my lawdy loo!
 
lonnieh43: IS Oil price a bad think
 
Iko Ward: lonnie, no, it is a very good thing
....

TNT:

Elmerf123456 : People hate silence. If they have less than 12 hrs they go into fruit loop mode. We are in a good place and it's the timing! Nothing has changed. You walk and rub elbows among the best knowledgable people out there.

Be the best you can be and stick like glue. Silence isn't negative. Silence is positioning.

Elmerf123456:  I want everyone to know I just got off the phone with Okie he underwent surgery very successfully but where they thought he was affected on his spine in four areas turned out to be seven.

It was good that he got these taken care of because it could've been crippling.

What he needs now is rest and to get his strength and for all of us to keep him in your prayers and he wanted me to tell everyone he loves you!
....

WEALTHWATCH  1-12-16
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Wealthwatch Tuesday Night OOTW Chat 1-12-16   Part 4 of 4
 
time2rv: International Monetary Fund Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding The following item is a Letter of Intent and a Memorandum of Economic Policies of the government of Iraq.
 
It is being made available on the IMF website by agreement with the member as a service to users of the IMF website. This memorandum describes the policies that Iraq is implementing in the framework of a staff-monitored program.
 
 A members's staff-monitored program is an informal and flexible instrument for dialogue between the IMF staff and a member on its economic policies. A staff-monitored program is not supported by the use of the Fund's financial resources; nor is it subject to the endorsement of the Executive Board of the IMF.
 
International Monetary Fund Iraq and the IMF Press Release: IMF Managing Director Approves a StaffMonitored Program for Iraq January 12, 2016 Country's Policy Intentions Documents E-Mail Notification Subscribe or Modify your subscription Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding December 22, 2015
~~~

 WEALTHWATCH  1-12-16
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Wealthwatch Tuesday Night OOTW Chat 1-12-16   Part 3 of 4
 
OOTW: BANKING STANDARDS (INTERNATIONAL) ARE ONE OF THE STANDARDS WHICH THEY ARE MEETING
 
OOTW: PROGRAM MODALITIES AND RISKS 26. The SMP will have quarterly reviews (MEFP, ¶30). It will set quarterly quantitative targets on the non-oil primary balance, the stock of net domestic assets of the CBI, official foreign exchange reserves, social spending, and the absence of new external arrears, starting in December 2015 (MEFP, Table 1), and a few structural benchmarks (MEFP, Table 2).
 
The targets on the stock of net domestic assets of the CBI and official foreign exchange reserves will have adjusters allowing more/less indirect monetary financing and use of reserves in case foreign financing is lower/higher than programmed, with an asymmetric cap on the additional monetary financing to protect foreign exchange reserves (Technical Memorandum of Understanding-TMU, ¶¶13-16).
 
The target for the non-oil primary balance for December 2015 will be adjusted when the true level of spending financed by domestic arrears in 2015 will be known (¶23; TMU, ¶12). The targets on the non-oil primary balance and the stock of net domestic assets of the CBI, the main source of domestic financing of the budget, will keep total public debt on a sustainable trajectory.
 
Each program review will set a few structural benchmarks in areas that are essential for the success of the program. The authorities intend to demonstrate good performance under the SMP to move to a possible Fund financing arrangement.
~~~

WEALTHWATCH  1-12-16
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Wealthwatch  Tuesday Night OOTW Chat 1-12-16   Part 2 of 4
 
OOTW: The fall in oil prices since mid-2014 is expected to increase the current account deficit from 1 percent of GDP to 7 percent of GDP in 2015 and 6 percent of GDP in 2016 (Table 5).
 
Because of debt amortization, arrears repayment, and private capital outflows, the overall balance of payments deficit could reach 8 percent of GDP in 2015 and 6 percent of GDP in 2016, of which the financing will involve a large drawdown of official foreign exchange reserves.
 
Reserve coverage would fall from 13 months of imports of goods and services in 2014 to 7 months in 2016.
 
The fall in oil prices is also causing a sharp deterioration of the fiscal position with the budget deficit increasing from 6 percent of GDP in 2014 to 15 percent of GDP in 2015 and 10 percent of GDP in 2016 (provided measures discussed below are implemented), and the total public debt increasing from 39 percent of GDP in 2014 to 66 percent of GDP in 2016. In the medium term, the outlook should improve as oil production expands further,
 ~~~

WEALTHWATCH  1-12-16
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News With Links & Discussion

( We at Recaps wish to thank OOTW & Butifldrm for their very labored and in depth work on this lengthy informative post - We are happy to share with our readers  - We appreciate all of our contributors and readers)
 
Wealthwatch  Tuesday Night OOTW Chat 1-12-16   Part 1 of 4
 
 
Donnie: 1/12/2016 0:00 BAGHDAD Shaima Rashid expressed Security Committee and Parliamentary Defense, its intention to approve the Interior Ministry Act during the next legislative term, stressing that the law to withdraw from the ministry to add paragraphs suit the current phase,
 
 as shown committee of parliamentary power, oil and gas law, the most prominent laws that the Commission intends to approval, at a time when the House resumes the second legislative term sessions, on Tuesday of next week, corresponding to January 19.
Donnie: Legal and parliamentary directed the Interior Ministry to pass .., oil and gas alsabaah.iq/ArticleShow.a...
 
Doug_W: I sure hope it passes the HCL  Doug_W: '@Donnie' ty that IS great news
~~~

KTFA:

Aggiedad77:  Here are the CC Notes from Dessert for last night Family....enjoy

Aloha Randy

*** The comments made by Frank26, Delta and others are their sole OPINIONS and cannot and should not be used as any form of financial, tax, banking or investment advice! We offer NO DATE, NO RATE on this forum!!! ***

CC Dessert Notes from Tuesday 01-12-2016

Frank26:  Greetings Family.....we had many files prepared for you, starting Saturday night and into Sunday and then all day Monday, many files were prepared for you.....we were excited about the things we were discovering and wanted to share to you.
Now my apologies to you...

I did not know that a National Championship football game was being played last night and if we had known we would have waited and shared with you tonight.
....

So in the article below we are witnessing news of non-conformity in the bank practices and we see that Iraq still has a problem managing these banking practices. Something we see in our countries as common practices are not yet infused into their society.

Remember it is the CBI that must come up with procedures and enforcement to regulate the banking laws. This is all just so knew to them still. Can anyone in Iraq do anything good out of moral fortitude for the good of the country as a whole without having a law jammed down their throats to make them do it? 

I quote from the article below - "if the banks have done to provide services to customers in order to attract this money saved, it will contribute to move the Iraqi economy," noting that "the central bank has a plan in order to attract these funds for the purpose of investment and moving the wheel of the Iraqi economy."

So what is this plan?

(Thank you George for emailing this so Dinar Recaps can post it.)

UU6855 - "Quick Update" by Mnt Goat

Hello Everyone,

Our winter ski season is strong this year. Just recently we got blanketed with mounds of snow and the bitter January cold seems to have finally arrived. The tourists are very happy. Our little village is now like a gingerbread town and this too is part of why I enjoy Bavaria.

I just wanted to pop in today and give you fine dinarians a quick update. There is much news and it is all progressing nicely so relax. It is my opinion that Iraq is still moving to late January / early February target dates for some reason. We are also being told now they want to conclude ISIS fighting in region of Mosul by end of month too. WOW !

They have told us targets for HCL, General Amnesty law, Federal Council law also in this timeframe. Remember that even though we see signs that these laws may be already in the implementation stage they are not "official" until parliament passes them, Masuam ratifies them and they are posted in the gazette.