KTFA’s Aggiedad77  With Sunday News Summaries

Post From KTFA by aggiedad77 » June 1st, 2014, 11:24 am  •  Sunday News Summaries

MP Abdul Salam al-Maliki warns Turkey of dire consequences in case of cut the Euphrates River on Iraq

Some of the wild things you think of at 2:30am Iraqi time…..a State of Law MP, Maliki, but not “the” Maliki…..released a press statement saying that it would be an international crime for Turkey to inhibit the flow of the Euphrates River….

by doing so would cause humanitarian grief against Iraq and Syria….apparently he sees an issue between Turkey and Iraq that has been a long standing quarrel that may raise its ugly head again.
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Deputy for united: we will resort to international organizations on the performance of the Commission and questioned in Parliament

The United bloc appears to be set to challenge any final decision of the Electoral Commission….even going so far as to turn to international organizations to review the decisions of the Commission…..

.their leader Najafi, Speaker of Parliament seems to be leading this charge claiming voter fraud and buying of votes…..they are calling for a thorough investigation by the United Nations…..

I say….lodge your complaint along with all others and they will be duly processed by the Judiciary who will announce their findings in short order.

Federal Court ratified the results of the elections in the tenth of June next

Note that this article was published on May 31, and indicates the Federal Court will publish the final ratified results of the elections on or before the 10th of June…..

while the Court is reviewing appeals from some blocs it was leaked that they do not anticipate any significant changes in the final outcome….and that the blocs must respect the final decision of the Court…..

the Court contact is saying that in some instances the appeal claim is not consistent with the legal evidence provided….regardless we should know something about the final outcome in the coming days of June.

CBI: 4 billion bank sales of dollar during April 2014

Funny that the article title would suggest that we are going to learn about the dollar sales from the CBI for the month of April being at 4 billion…but alas….we also learn that May’s sales were also at 4 billion as well.

Industrial Bank: our capital will rise to 500 billion dinars during the next year

The Industrial Bank of Iraq has been in the process of making significant loans to many industrialists during the first 5 months of 2014 that exceed a total of 25 billion dinars…

helping to stimulate the economy and reduce unemployment at the same time….

all while there has been a major battle ensuing in the government over the budget for the same time period….

over the years 2014 and 2015 the bank is looking to raise its capital to 500 billion dinars largely on the action of their loans to industrialists over that same time period.

The appearance of Mohammed Saleh: central bank’s measures will not lead to the stability of the exchange rate of the dinar against the dollar

Dr. Mohammed Saleh is quoted as saying the act by the CBI to allow money transfer companies to buy the dollar without any middle bank being involved will not lead to stability of the dinar against the dollar….

he says that this action will surely reduce the transaction costs but will not be seen as a solution…..he claims the solution would be to meet the needs of the foreign currency market….he says the action by the CBI will succeed in lowering the price of the dollar.

Kurdistan: Maliki rejected all initiatives put forward to resolve the dispute oil

There are many points to this article….but basically with the exception of one point…it is all old news…..the new point is that the Kurds are accusing Maliki of being the one to cause the budget to be postponed until after the elections….

this is not some effort of other blocs….primarily believed to have been Najafi’s delay tactics…..it really doesn’t matter, the fact is they have say on their hands for almost 2 months now and haven’t done anything or made any attempt to even look at the budget…meanwhile oil flows out of the Kurdistan and is going overseas to Europe.

An invitation to increase the width of the dollar locally

Association of private banks: to stabilize the Iraqi dinar against the dollar depends on increased supply in the domestic market

The stability of the dinar exchange rate … they are the central bank

Three articles that are basically stating….The CBI, according to the head of the Association of private banks, has a goal to bring stability to the dinar….

by allowing the money transfer companies to deal directly with the CBI they are looking to increase the width of the dollar that will in turn lead to a lack of demand….

and increase the demand on the dinar…..so they are saying that an increase in the domestic market will bring about the higher demand for the dinar.

Planning allocate more than eight trillion dinars for the oil-producing provinces

The Ministry of Planning seems to be forecasting that 8 trillion dinars will be allocated to the oil producing provinces as a result of the petrodollar project based on $5/barrel of oil produced….

they only mention Basra specifically in the article as set to receive 5 billion 660 million dinars…..was this done on purpose to ignore the productivity of the Kurds….

meaning that perhaps they will get nothing…..as part of the continued conflict between Baghdad and Erbil…..but there are also other oil producing provinces that should be getting a piece of the pie also….

maybe Basra was the easiest example to be made….can you see my eyes rolling at this point.

Experts: the central bank is able to protect Iraqi funds abroad if not under the influence of the executive authorities

How many different “experts” need to weigh in on the issue of the DFI monies that the CBI must remain independent to protect the Iraqi funds…..

this story has been drilled so many times already it is getting “boring”….they all talk about the Paris Club debt…they all have the same story…emerging out of Chapter VII would lead to Iraqi sovereignty, and financial independence that that the release of the DFI monies only compliments the entire process…..

as a result of this final chapter regarding Iraq’s financial independence and being allowed to once again take care of its own bank accounts….it will allow Iraq to deal both on a domestic and international level with governments and companies…..

one would surmise that this process in short order should see an increase in the value of the IQD in order to effectively work with other international entities…..sounds like good common sense…but we are dealing with Iraq….we continue to wait and see what their next moves will be.

Expert proposes to replace the international debt investments of economic

Everyone has an opinion of what Iraq and the CBI should be doing with its new funds that were released by the US last week….

it seems to me they are suggesting that Iraq do the very thing they have already done…..Iraq is far from stupid….the release of their funds by the US on May 22 is not something that was totally unexpected….

they have been working on securing these funds for quite some time….this money is oil money….from which comes the 5% to be paid to Kuwait for past damages…this payment must continue to be paid until at least the middle of 2015…..

the other international funds that the former regime had stashed around the world were freed up from protection by the UNSC more than a year ago….this is not a new rodeo for the Iraqi’s…..they have much skin in the game and seem to be doing a decent job of taking care of business.

Economist: Iraq mature enough to manage his money and unable to protect these funds abroad

Read what is stated above……yes Iraq has matured to the point that both the UNSC and the US government believes it can manage its own monies thus the UNSC released them from CH VII last year in June, and now in May the US has rescinded the protection of their DFI monies held in the Reserve Bank of the US. Iraq is coming of age to play in the major leagues again….no longer flying under the protective wing of either former entity.

Ministry of Science announces the twentieth of the current June date for the launch of the first satellite into space Iraqis

Iraq has the money to launch a satellite into space via the Russian space program to study the moon….now that will be a financial project of worthiness while so many in Iraq are homeless and jobless.

UPDATE 2-Iraq threatens legal action against any buyer of piped Kurdish oil – Reuters

It is odd that Maliki and his government is making such noise against the Kurds at this point….seems to me that if he was attempting to court their alliance with regard to the recent elections…..

he might be making “concessions” instead of threatening suits left and right over what the Kurds have done with their oil….

I honestly believe it is not the Kurds intention to renege on the percentage of the revenue that is due to be passed back to the GOI….