Iraq an economic Study

He is old - born in 1938 (76)

Was PM of Kurdistan 7/4/1992 to 4/1993

National Alliance agreed behind Abdul Samad substitute for Maliki

[link to 8th-day.com]

Never for this long. Best not read too much into it, but it is interesting.

I spoke too soon. The denials have already started, but at least they say we'll have a nominee tonight.

So, Jaafari, Chalabi, and Hamoudi met with Maliki today. Chalabi and Hamoudi and Hakim's boys and Jaafari has not been much of a Maliki fan lately. I'd say ole Nuri got his ass handed to him today. Gonna be a hell of a week.



Baghdad/Obelisk: detect early political source, said Sunday that an important meeting will be held for the four characters in the House of Ibrahim Al-Jaafari, head of the National Alliance, this afternoon, to be attended by Prime Minister Nuri al-Maliki.

[link to www.microsofttranslator.com]



He added that "the President of the National Alliance, Ibrahim al-Jaafari will hold a meeting at his home, in the presence of Prime Minister Nuri al-Maliki and the Iraqi National Congress leader Ahmed Chalabi and MP for the mass citizen Hamoudi," noting that "the meeting includes the selection of a candidate for prime minister in the new government and to provide his name to Parliament ".

[link to translate.googleusercontent.com]
--



A source attended a meeting of the National Alliance, which was held to discuss the submission of a candidate for the Presidency of the Council of Ministers, Prime Minister outgoing Nuri al-Maliki left the meeting angry.

[link to www.knoozmedia.net]

Sorry no link, but it's on Rudaw.



ERBIL, Kurdistan Region – The new speaker of the Iraqi parliament said in a televised interview that “Kurds believe in the constitution” and the country “cannot be divided.”

Salim al-Jabouri also told Arabic Sky News that that Prime Minister Nuri al-Maliki remaining in office for a third run is only a “weak possibility.”

Jabouri, who was elected last week as Iraqi MPs and politicians grapple with a country in upheaval, acknowledged “there are some issues which need to be resolved” between the central government and the autonomous Kurdistan Region.

But the speaker, who has visited the Kurdistan Region to discuss the crisis with Kurdish leaders, emphasized: “Kurds believe in the constitution, and Iraq is a united country which cannot be divided.”

Iraq has been reeling in turmoil since jihadi-led Sunni rebels began an advance that has ignited a Sunni insurgency and seen a third of the country taken over by the fighters.

Posted Today, 12:59 PM
Tlar’s Email Update to Family & Friends: Brought From another site

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Comment - things are shaping up for the Wednesday parliamentary meeting. The Kurds have decided on their President of the Republic (POR). The Shia and the Sunni each have picked their people for VP positions.

Negotiations are still on going for the PM position but Jubouri, the new President of the Parliament (POP) is not letting any grass grow under his feet.

Earlier this week he set up committees to re-write the budget and he has stated the budget could be passed before the government is completely formed.
~~~
I believe next week he will submit it to parliament for its first and second reading, and then they will vote and publish it as law. The SOL has all but dumped Maliki as their nominee.

Maliki said he will resign in exchange for two things. These demands will be ignored as his power base continues to erode and it has become less important to even deal with this guy.

Immunity of all charges even murder and if he gets to pick the next PM are what he wants in exchange for his resignation. What a joke.

The SOL's power base has also been eroding as many of their members (about half or more) have come out against Maliki. The SOL has said they will offer three nominees. All three have shown strong allegence to Maliki and none will end up as PM.

The coalition has also offered up three nominees. Either Chalabi or Mahdi will ultimately be the prime mininster. The SOL is simply out numbered and they can't stop it anymore.

The PM position may take a few days past Wednesday because the coalition still wants this to be seen as a smooth transition of power as does the international community, but they are prepared to go to the wall if they have to.

So even if they can't get a PM on Wednesday, it is my belief that with the passage of the budget and the new President in place, Turki will be good to go.

Even though the government is not technically complete, he will consider it as "a foregone conclusion" as to how this will end because the numbers dictate it, and he will act on monetary change.

Maliki is in deep trouble and he can't even count on the loyalty of his armed forces because he insulted them when he made his son the head of it. That and the fact that he just dismissed most of the leadership (officers) of the armed forces because he is paranoid and can no longer trust anyone.

Maliki can't attend the next session of parliament because he still has not taken the oath of the new parliament and he knows that again he would be thrown out if he were to show..

The good guys, Hakim's Marauders have pulled off a great victory for Iraq. They are in charge and building a non-sectarian government. This is the catalyst for the RV.

Read more: [link to dinarvets.com]

So, the Kurds made two nominations. I don't know what this means. Do they now have a general vote in Parliament of all 50+ nominees?



Talabani's party formally nominates Barham Salih and Fuad Masum, to the presidency of Iraq


Announced the Patriotic Union of Kurdistan (PUK), on Sunday evening, on the nomination of each of Barham Salih, Fuad Masum, for the presidency of the Republic of Iraq.
And the resolution of the party led by President Jalal Talabani, the position of the candidates, a day after the arrival of the leader of Germany, where he spent 19 months for treatment.


[link to translate.googleusercontent.c...-qag4PIGhEvDGQ]

50% rule observed, but read the whole thing. Really good stuff.

Maybe, this whole BRICS thing is how they slip the dinar change in without anybody raising much of an eyebrow. The writer mentions, in this piece, that lots of countries are going to bilateral trade arrangements, in their own currencies, to avoid paying dollar commissions on two transfers. I can't, for the life of me, figure out why these countries didn't figure that out years ago, other than the dollar was king and they just couldn't do anything about it, but if everybody's doing it, why not Iraq, too? So, Iraq goes international, and the value skyrockets as a result, but everybody's doing the same thing, so it doesn't seem like anything weird, and the world moves on.




Adoption of the local currency in commercial transactions boosted worth

7/21/2014 0:00

BAGHDAD - Hussein al-Tamimi Tgb

Said financial expert Ali Fukaiki importance of adopting measures trade in local currencies across the border for its role in facilitating the smooth flow of traffic of goods and goods across international countries that adopt this process.

He added in an interview with "morning" that cross-border trade in local currencies in vogue among the countries of the world, pointing to the importance of activating the measures adopted in the present time in the trade of the country during the current situation you need to supply the domestic market of goods cover the growing domestic demand.

He pointed to the presence of several international agreements to be adopted commercially in the world like her and what was approved by the agreement between the governments of Turkey and Iran from trade in local currency for the two countries, as well as between Malaysia and its neighbors using local.

He pointed out during his speech for the "morning" that this trend will strengthen the position of local trade internationally, after the currency gained international acceptance process, citing that it supported by substantial financial reserves have added weight after the new stages ravaged by inflation.

[link to translate.google.com (secure)]

This makes me tingly :)

What do y'all think of this? Dontlop, from DV, thinks he has figured out the mechanism by which they reduce the volume of dinars in Iraq before IT happens. I suppose it depends on how much you think is currently in circulation, but if there are, as has been officially reported for a long time, 30 trillion dinars in circulation, this would work. Here's the headline and link, and I'll post his thoughts after...


D. Appearance of Mohammed Saleh *: Towards a realistic vision of the economic and national curriculum

Read more: [link to dinarvets.com]

[link to translate.google.com]


Dontlop:
All i want to see is the dinar sitting in other central banks

This mentions currency swaps like the ones the us is already engaged in

You can google "central bank currency swaps " and see


to encourage the use of those funds to be deposited in Iraq in foreign currency to meet exchanged for local currency


If the USA does a currency swap between central banks a account is opened for the USA in dinar at the cbi

And an account is opened at the new your fed for the cbi in dollars

The cbi can draw off those dollars if they need them

But the dinar are in the Feds account and the dollars are in the cbi account


Maybe they are anticipating a large influx of people exchanging dinar for dollars for investing in businesses or who knows what


They can do this with India

Or Europe

Or china

Or Russia

Or any country

Thur currency swaps
India talked recently about trade in local currency's with Iraq



Central bank liquidity swap is a type of currency swap used by a country's central bank to provide liquidity of its currency to another country's central bank.[1][2]
In the United States the Federal Reserve operates swap lines under the authority of Section 14 of the Federal Reserve Act and in compliance with authorizations, policies, and procedures established by the FOMC.

Description
These swaps involve two transactions. When a foreign central bank draws on its swap line with the Federal Reserve, the foreign central bank sells a specified amount of its currency to the Federal Reserve in exchange for dollars at the prevailing market exchange rate. The Federal Reserve holds the foreign currency in an account at the foreign central bank. The dollars that the Federal Reserve provides are deposited in an account that the foreign central bank maintains at the Federal Reserve Bank of New York. At the same time, the Federal Reserve and the foreign central bank enter into a binding agreement for a second transaction that obligates the foreign central bank to buy back its currency on a specified future date at the same exchange rate. The second transaction unwinds the first. At the conclusion of the second transaction, the foreign central bank pays interest, at a market-based rate, to the Federal Reserve.
When the foreign central bank lends the dollars it obtained by drawing on its swap line to institutions in its jurisdiction, the dollars are transferred from the foreign central bank's account at the Federal Reserve to the account of the bank that the borrowing institution uses to clear its dollar transactions. The foreign central bank remains obligated to return the dollars to the Federal Reserve under the terms of the agreement, and the Federal Reserve is not a counterparty to the loan extended by the foreign central bank. The foreign central bank bears the credit risk associated with the loans it makes to institutions in its jurisdiction.



What I like about the currency swaps is they sell the dinar for example at its exchange rate now

Then say in two years they buy it back at the same exchange rate

Now this is just a wild speculation but

If they sell 30 trillion dinar to the fed and dollarize their streets completely then while all those dinars are off the streets they rv

Then the kicker is they buy back those dinar at the same exchange rate of the original contract

So they sell them for around 27 billion dollars and buy them back for 27 billion dollars

And if they had a revalued currency in the mean time when they buy them back they could just destroy them after they get them back

Like after the exchange period is over


This is hard to explain
It's just long shot as to how they could reduce liquidity of the dinar




Does anyone understand what I mean here

This is from the federal reserve



The dollars that the Federal Reserve provides are deposited in an account that the foreign central bank maintains at the Federal Reserve Bank of New York. At the same time, the Federal Reserve and the foreign central bank enter into a binding agreement for a second transaction that obligates the foreign central bank to buy back its currency on a specified future date at the same exchange rate. The second transaction unwinds the first


They buy it back at the same exchange rate

Isn't 30 trillion the for-media-consumption number given by the CBI to avoid speculation. An actual disclosure of M0,M1 and M2 could be damaging to the delete the zeros plan, and if I understand, even vaguely, what is written above, the currency swaps are nothing more than CBs palying 3 Card Monte with the money supply.

Accounting is a creative act.

That is the stock number, Zen, and I don't believe there are 30 trillion outstanding in Iraq. That said, what if there are 2 trillion? That's still way too much for any huge revaluation to happen. In an RV environment, nobody would believe Iraqis have, say, $2 trillion worth of paper purchasing power. In a float, I doubt it could get much higher than 10-20 cents until they've bought back a large percentage of it. Dontlop's thing works, whether it's 30 trillion or 2 trillion. They basically just park their money supply with us, revalue, issue new currency, and then buy it all back at the original rate, per the details of the swap contract. They can issue new currency at whatever rate they want, then, and the old money supply turns to ash.

Basically, the good guys gave SoL 48 hours to name a new PM, acceptable to all the blocs, or they break the National Alliance, nominate their own guy, and take the vote to the full parliament.


*50% rule observed, but read the whole thing.


Maliki began to hear for the first time replaced the calls and Shiites can ask more than one candidate
BAGHDAD / Mohammad Sabah

Confirmed the mass citizen, led by Ammar al-Hakim, said yesterday that the recent meeting of the National Alliance, which was attended by Nuri al-Maliki, witnessed for the first time be honest with state law, the need to provide an alternative candidate, and that the latter had agreed to in order to preserve the unity of the country.

Illustrates a coalition member Hakim that "blocks the National Alliance waiting for a coalition of state law to provide the name of the candidate alternative to al-Maliki and is supposed to offer during the next 48 hours," adding that "the rule of law expressed its response, during recent negotiations, to provide candidate alternative to al-Maliki."

A member bloc citizen that "the response was clear from the state of law in introducing alternative candidate for al-Maliki." That "in the case of a replacement candidate for al-Maliki, during the next two days, apply it consensual between the blocks we will go one candidate while the opposite will present a coalition more than one candidate for the national blocks."

[link to almadapaper.net]

Last Edited by Revbo™ on 07/21/2014 04:32 PM

Iraq Money Supply M0

Money Supply M0 in Iraq decreased to 67473 IQD Billion in May of 2014 from 68843 IQD Billion in April of 2014. Money Supply M0 in Iraq averaged 37876.92 IQD Billion from 2003 until 2014, reaching an all time high of 73259 IQD Billion in December of 2013 and a record low of 6708 IQD Billion in December of 2003. Money Supply M0 in Iraq is reported by the Central Bank of Iraq.

[link to www.tradingeconomics.com]

The MO includes more than just cash.

Iraq Money Supply M0 is the most liquid measure of the money supply including coins and notes in circulation and other assets that are easily convertible into cash. Money Supply M0 and M1, are also known as narrow money. This page provides - Iraq Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Great site...thanks!!

What happened to PIR?

Still here.

No updates...no changes.

Will update as needed.

The Matrix of Information remains unchanged.

Timelines are the same.

There has been some debate as to whether the parliament will vote on the president tomorrow. Looks good so far, but I'm going to stay cautiously optimistic, because you never know what shenanigans these guys will try to pull. I saw another article, but can't find it at the moment, that said Barham Salih has a strong majority in his favor. I had been concerned that Talabani was coming back to throw a wrench in the presidential vote, and sure enough, as soon as he came back, the Kurds had another candidate when, for weeks, Salih was the only guy, but it looks like Talabani's guy is not going to be a problem.



*50% rule observed.

Speaker: Secret polling to be adopted to nominate President next Wednesday
Tuesday, 22 July 2014 13:19 | | |


Baghdad (Forat) –The Speaker, Saleem al-Jobouri, clarified that the President will be nominated by the parliament via a secret polling on next Wednesday.

[link to www.alliraqnews.com]


Reider Visser tweet from this morning:
On press conference right now, newly elected #Iraq parliament speaker Jibburi indicates he wants to go ahead with election of president Wed.

Mohamed al-Qasier ‏@MohamedalQasier 3h
103 candidates compete on Iraq's President Post..1 of them to be nominated next Wed. session of the parliament


Sazan M. Mandalawi ‏@Sazan_Mandalawi 5h
Dr. @BarhamSalih might just be the next President of Iraq.

He had his blog talk radio show yesterday..not sure about his whereabouts on Glp . Hope that helps

If Jabouri pulls this off, it would set a precedent for secret ballot voting, and maybe we could get a secret ballot for Prime Minister. Don't anyone get too excited just yet. That's just me spitballing, but if they can do it for President, why not Prime Minister?

yes... it would free up members to vote as they really want.

Here's a full length research project, mostly done by OutoftheWoods, and below is a summary from one of OOTW's friends at DU. If you don't have an account, the summary should get you most of what you need. It's really long, and has a lot of junk legal stuff in it. Looks like they just implemented a large part of the 2010 budget that was dormant for four years.

[link to www.dinarupdates.com]


SUMMATION FROM SCZIN11:



What is the significance? Why the rush? What is really going on? What is the relationship of these laws being implemented NOW, to the completion of the MONETARY REFORM?


DO WE UNDERSTAND WHAT A BUDGET IS? WHY IS THE LACK OF BUDGET BEING BLAMED FOR THE WORK STOPPAGE OF PROJECTS, CERTAIN GOV'T SALARIES, AND NEW BUSINESS NOT BEGINNING?


When a line item is budgeted for, and the amount of money allocated for a given period is used up, do we just stop the project until the next fiscal years budget is approved? The simple answer is NO! Then why, here in the IRAQI media, is the lack of a BUDGET being blamed for this? Why can't the governement just use money from another line item, and make the accounting adjustment? That is the way BUSINESS works, usually....


The answer lies in the HUGE HUGE HUGE gazette ENTRIES seen below, TODAY!!!!!


Contracts were signed and agreed upon 4,5,6 years ago, without having the contracts base APPROVED as required, written into the gazette. Most assumed when Iraq was released from chapter 7 sanctions, that they were now free, as a SOVERIGN nation, to go about their business of rebuilding the old Iraq, and start the BUILDING OF THE NEW IRAQ!


JP Morgan Chase was in country, had been there from as early as 2003, waiting for the culmination of the 10 year plan, biting at the bullet to be the pioneer of the BIRTH OF THE NEW IRAQ!


Haliburton started shipping equipment and crews in July 2013, ready to get going...


Banks from all over starting making their way into Iraq to be a part of the ground floor building and investing...


Governor Turki of the CBI, actively pursued and became a part of the international banking community, even taking on the Presidency of the MENAFATF! (add link if u want to my opinion piece)


UN made bold demands of Iraq to get certin projects done by June 1, 2014... Water, sewage, Municipal roads in baghdad, and others...There was no liquidity, we were told? So CBI auctioned off 500 BILLION DINAR around May 25, 2014, short term, 6 months.... WHY? Could it have been there was no allocated money for these projects that were not approved in th GAZETTE? ......and..... NOW THEY ARE


There are many significant occurences over the last 10 months to a year that we questioned... We knew they had certain laws to write in the gazette- the investment banking law for the ISX, the HCL, article 140, anti money laundering and other international banking laws..... Many opined that these laws were all completed, just not written in the gazette... Over the last 7 weeks, many laws have been validated, finally. Each one adds a piece to the puzzle and aids in explaining why certain things happened the way they did, or dint happen at all... Each time we see progress, and it confirms our belief that most of these laws were obviously just waiting for the day to be written in the gazette. Laws like this don't get written and approved over night.. Some of these laws have been apporved waiting implementation for years..


Today, we see MORE PROOF IN THE PUDDING! The below, could not have been done in 2 weeks time, that Jubouri has been speaker. He is racing, don't blink, you may miss the "RAISING OF THE VALUE OF THE DINAR!"

50% rule observed, but read this whole article, especially the excerpt below. There was an article this morning that said we might see some surprises in Parliament tomorrow. If this article is right, not only will we have a President tomorrow. We will have a Prime Minister, as well.



Parliament will vote on the four candidates for prime minister

"...eliminates candidacy other figures along with al-Maliki and put all the names of the vote in the parliamentary session, similar to what happened in the election of the Speaker and his deputies and in line with what he did to the Kurds in dealing with the post of president of the republic. "
the source stated that "the masses of the citizen and the Liberals agreed to be Bayan Jabr and Adel Abdul-Mahdi and Ahmad Chalabi competitors to the owners if he insists the latter to hold on to Berthha and choose any of them would be up to parliament..."

[link to www.almashriqnews.com]

Let's hope they can get it done! Noticed that Maliki was eliminated for candidacy.

All sounds good REVBO...I'm ready!

So, parliament delayed until tomorrow because the Kurds couldn't quite get there today. That's cool, though. At least, they're not putting it off until next week. This Jabouri is in a big hurry, by Iraqi standards, so what's one more day among friends?

Wall Street Journal now hatin' on the Maliki.



Iraqi Leader Maliki Loses Backing of Shiite Figure and Iran for New Term

The shift, officials said, is prompting members of the premier's own alliance to reconsider their support and dimming the prospect of his stay in power.
In recent days, high-level delegations of Iranian military officials and diplomats held a flurry of meetings in Baghdad and the Shiite religious capital Najaf, where they were told that Mr. Maliki, a Shiite, has lost the confidence of all but his most loyal inner circle, Iraqi officials with knowledge of the meetings said.

One Iraqi official briefed on the meetings said Iranian representatives signaled during their visit that Tehran has "really started to lean away from Maliki as a candidate."

Ayatollah Sistani took the unusual step of sending a letter directly to Mr. Maliki's office last week that made clear the cleric's opposition to a third term, a message also made clear to the visiting Iranian officials, said three Iraqi politicians involved in the talks.

Iran "will align with what Sistani would like to see," said Hoshyar Zebari, who until last week was Iraq's top diplomat. Mr. Zebari, a Kurd, was replaced as foreign minister after tensions rose between Mr. Maliki and Kurdish cabinet members.

He will also play for time. "He stays stubborn until the last minute," said Mr. Shahbandar, a Shiite. "This strategy has worked for him in the past. You hold out until the end, and by then the alternatives have all knocked each other over." For now, he said, Mr. Maliki is "living on extra time in the absence of a political agreement."

[link to online.wsj.com]

*50% rule observed.

Last Edited by Revbo™ on 07/23/2014 08:12 AM