Iko Ward: Forex continues it’s new Dinar pattern of 1120/1173 spread with a low if 1115 and high of 1120. Crude is 39.6, Gold 1122, ISX lost a tiny fraction last night along with the Saudis, World Markets hanging around waiting like us. Logic, Reason and Rumor say tonight is our night. I still have plans to go sailing, but i also have plans for the bank. Your call, PTB
NetGlobal: IKO. why tonight?
Iko Ward: Net..3AM EST, starts in Iraq and takes the weekend getting to US. Maybe we get to go in Friday night and Saturday. If not, Monday’s gonna be bloody.
EF: NYSE invokes Rule 48 for third straight day Jenny Cosgrave | @jenny_cosgrave This tells me they have no fix folks. Plain and Simple!
Smoke: What does it mean for the nyse to impose the rule 48
Nurseginger: The goal of Rule 48 is to ensure orderly trading amid financial market turbulence. It’s only used in the event that extremely high market volatility is likely to have a floor-wide impact on the ability of designated market makers (DMMs) to disseminate price indications before the bell.
EF: Right Jim. Let’s add they wouldn’t add rule 48 if there was confidence. There is NO Confidence!
Jimbake: To invoke Rule 48, an exchange would have to determine that certain conditions exist that would cause market disruptions. Those conditions include: volatility during the previous day’s trading session trading in foreign markets before the open substantial activity in the futures market before the open the volume of pre-opening indications of interest government announcements
NurseGinger: The process has begun….now its a matter of having your plan in order
freedomboomer : Dollar Depeg Du Jour: 32-Year Old Hong Kong FX Regime In The Crosshairs
Another article this time India. … http://www.zerohedge.com/news/2015-08-25/latest-currency-war-entrant-india-warns-may-retaliate-chinese-devaluation
Martha: retaliate? I dont thinks cause they are also very rich country that needs to re-align as well
The next 3 days have eights in them and on 8/28 there are 4 of them. On 8/28 you will see Iraq’s parliament get paid, the un operational sheet is out and a formal announcement by the GOI?CBI
Balding Eagle: 8/26/2015 = 888 as follows: 8 / 2 + 6 / 2 + 1 + 5
Martha: balding eagle you are right and I actually got an email about that today. It means prosperty and getting money hint hint…… 8/27 and 8/28 also have eights and the you have the full moon on 8/29 a sign of completion of a lunar cycle and hopefully our completion of the rv
Martha: Iraq”s ISX gave their new members till 8/27 to get on board for the train was leavin the station without them-they need a real rate to do this!!!
I have heard this called the race to the bottom but it really a correction/or re-alignment of the currencies not a currency war which it is also being called
Fitzgerald: TIME WILL SOON TELL US
Martha: fitz this would be a great day to do it. China just put money into short term loans for interbank use. The market will still be a rollercoaster but what a perfect time to bring that first basket in when no one is really looking…..the short term loans for china are interbank loans like our bridge loans to help for a short term which I believe is 6 days
China is leveling off at this point but the other markets like Europe and US are still trying to hedge their bets to china’s next “move”
Actually China jumped started this a week ago. Lets say these are very strong labor pains. Everyone is READY and we just watch the show for the moment. this is so worldly an undertaking
Jer39prov8: Parliament to vote on legal political parties and National Guard law 8/27/15
Your Gold Is Only as Good as Where You Store It
by Jeff Thomas | August 24, 2015
The image below shows a Credit Suisse one-kilo bar of gold (worth roughly $35,000 at present).
Keep your bullion in a place where you maximise your control over your ownership of it, whilst minimising the control others (such as banks and governments) have over it.
At one time, banks were a primary choice for the storage of gold, but that’s changing rapidly. Why should that be? After all, the very idea of modern banking grew out of the storage of gold by goldsmiths.
Coming Cash Controls
For quite some time, I’ve been predicting the coming of cash controls in the EU, US and other countries that are awash in debt and, for all practical purposes, are insolvent.
Any country is likely to suffer from periodic negative monetary trends, even those whose governments are fiscally responsible. However, in the above jurisdictions, the problem has gone far beyond that. The problem is systemic, which means that a recovery can come only with a collapse and reset of the system.
Historically, when governments find themselves in this fix, they do the exact opposite of the right thing. They prolong the existing situation as long as possible, kicking the can down the road, assuring that the final collapse will be the worse for it. The government in question will print money, raise taxes, impose protective tariffs and implement capital controls.
All of these measures are harmful to the populace, particularly to those who have made the effort to save, storing their wealth (however large or small) in cash, precious metals, real estate, etc.
The big question for every responsible saver is, “What tricks will my government come up with to take away my wealth?”
Governments today are very sophisticated and it’s getting much harder to safeguard wealth. It’s become not only advisable but nearly essential to internationalise, to remove wealth from those jurisdictions that are on the ropes and squeezing their citizens for all they can get.
A good general assumption to make is to regard any wealth that’s in a troubled jurisdiction as sacrificial, that it’s in danger of regulation and/or confiscation. (The EU, US and Canada all now have bail-in laws; they just haven’t been implemented yet.)
As these jurisdictions decline, a corresponding flight of capital has been taking place. Wise investors have been moving their wealth offshore, and as, increasingly, offshore bank deposits have been targeted by these governments, investors have been moving their cash into the harder-to-confiscate forms of real estate and precious metals. These two solutions have proven in the past to be the most secure and continue to be.
So let’s look at precious metals in particular. At one time, some savers held their bullion in ETFs: promissory notes, generally issued by banks, assuring that the saver could demand his bullion (or an equal value in cash) from the bank whenever he chose to do so.
However, it’s becoming common knowledge that banks (even some of the more trusted ones, such as those in Switzerland) have sold far more bullion than there is in existence in the world. One day, there will be a run on ETFs and those savers will find that they’re holding worthless paper.
As a result, savers are turning more and more to physical gold, held in a vault somewhere. But the banks are closing in further.
Recently, JPMorgan’s subsidiary, Chase Bank, advised its depositors that they may no longer hold cash or coinage in safe deposit boxes. Could it be that they’re hoping to force customers to cash in the bullion and place the proceeds in a deposit account, one that’s subject to confiscation by the bank?
Not surprisingly, the wiser customers are moving their bullion to private storage facilities, not connected to any bank. In North America, some of the foremost independent storage facilities are located in Delaware, Toronto and British Columbia. But again, both the US and Canada are putting the squeeze on, through capital controls.
Therefore, the best storage companies are those that offer additional storage services offshore. One of North America’s top facility owners and crisis economic advisors, Eric Sprott, Chairman of Sprott Money Ltd., says,
I firmly believe people should have various storage sources as I do and storing offshore is one of the most prudent decisions that a smart investor can make.
Quite so. Like other leaders in the field, Eric offers alternative facilities inSwitzerland, Singapore and the Cayman Islands.
Of these three, Switzerland is the most traditional, but in recent years, the other two jurisdictions have become more attractive to many investors, as they have more modern, customer-friendly laws and have held their own against the US more successfully. To my mind, the very best facilities are located in these jurisdictions.
So, the big question is, if I had to make a choice, which one would I pick? Well, it’s a bit of a trick question, as I would not choose only one. In order to protect wealth, an essential requirement is diversification. To my mind, the optimum number would be three: Switzerland, Singapore and the Cayman Islands.
Announcement No. (3021)
The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 25/8/2015 and the results were as follows:
Number of banks 24
Number of remittance companies 7
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 226,224,332
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 226,224,332
Total offers for selling (US$) —–
Currency rates from the date of (6/4/2015)
Exchange Rates up to(19/2/2015) LINK
Iraqi Dinar/US Dollar auction results 8-25-15 Currency Auction Results Announcement No. (3021) Offers have been the opening of the sale and purchase of foreign currency daily three thousand and twenty-one window in the Iraqi Central Bank on Tuesday for a brief summary 08.25.2015 and the results were as follows: Details Notices The number of banks […]
Millionday: Article quote – “…Governor of the Central Bank of Iraq on the Keywords, Monday, that the current conditions are in place so that there is a reconsideration of the Iraqi financial system.”
CBI GOVERNOR SAYS THAT THE RIGHT TIME IS NOW. CBI IS HAPPY WITH THE TIMING AND OBVIOUSLY THE GOVERNMENT IS AS WELL. I DONT EXPECT TO HAVE ACCURATE TIMELINES/SCHEDULE FOR THE PROCESS RELEASED… BUT WAS VERY EXCITED OVER THE PROCESSES BEING DISCUSSED ETC. …ACCORDING TO REPORTS I AM SEEING…THE TIMING IS PERFECT OR AT LEAST RIGHT AND BEING ACTIVATED /APPLIED.
Iraqi Dinar exchange rate against the dollar on Tuesday 8-25-15 25-08-2015 12:40 PM Iraq today Iraqi dinar exchange rate against the US dollar on Tuesday in the Iraqi banks and markets: US $ 1 = 1140.4200 Iraqi dinars 1 Iraqi dinars = US $ 0.0009 iraqipedia.com
Mnt Goat: I am hearing the Maliki influence has dwindled to the point that he no longer is any threat to the government. This was assured to us once his position as VP was eliminated. We wait for his trial on many charges. This is coming in the weeks ahead. I now have proof that currency reform is in fact one of the reforms Abadi fully intends to implement VERY soon.
I also have confirmation from the CBI that the IQD is no longer directly pegged to the USD but has been pegged to the SDR now since 2012 when Dr. Shabibi (then acting governor of the CBI) was in the process of the final steps of rolling out the lower denoms and coins. Well they are now on track to pick up the pieces and move forward with this once again.
Wealthwatch Morning Chat 8-25-15
nobody: the dinar is pegged to the dollar, it moves only when the dollar moves. any forex chart watching is a waste of time.
nobody: we need the CBI to toss the peg and let the market decide the correct rate for exchange
Doug_W: GM Gang
chattels: Baghdad (AIN) –The Minister of Electricity, Qasim al-Fahdawi rejected to attend the session of parliament on Tuesday, which is intended to question him about the problem of the electricity. chattels: en.alliraqnews.com/module…
chattels: Baghdad (AIN) –The parliament session of Tuesday has started, the session is headed by the Speaker, Saleem al-Jobouri, and attended by 271 MPs. Parliament will vote on Parties Law and question Electricity Minister, a parliamentray source said to AIN. chattels: en.alliraqnews.com/module…
chattels: Allawi:Cancelling Government Positions Is Not Reform, But Austerity Policy 19/08/2015 23:01 BAGHDAD / NINA / Head of the National Coalition (Watania List), Iyad Allawi said the government’s action to cancel positions is austerity measures and not reforms.
He said in a televised interview tonight, “the government austerity measures and not a reform, warning at the same time to circumvent the demands of the demonstrations or the political agreement document, stressing that the real reform is the agreement that produced the three presidencies (the Republic, the government and parliament).”
He added that the Iraqi Constitution has been shredded by the lack of implementation of the agreed political agreement before the formation of the government, ” chattels: ninanews.com/Website/News…
This webpage is not available — page would not load 3 attempts – sorry
chattels: agreements with baghdad mean very little – ask the Kurds
chattels: ERBIL, Kurdistan Region – Airstrikes launched by the US-led coalition to fight the Islamic State, or ISIS, killed 30 extremist fighters on Monday in villages near the town of Daquq, a local police official told Rudaw. Brigadier Sarhad Qadir, chief of Kirkuk province suburban police,
told Rudaw the warplanes targeted ISIS positions in Tal Rabaa and Tal Abu Raseen villages, destroying a military bases inside a local home and killing the ISIS fighters on the premises. Kurdish Peshmerga forces have been able to drive ISIS out of at least 40 villages in Kirkuk province since the jihadists pushed into the area last summer. chattels: rudaw.net/english/middlee…
chattels: Peshmerga — which literally means “those who confront death” : struggle to pay bills Read more: www.al-monitor.com/pulse/…
TxBrand: something is going on… wish we knew what it is –> twitter.com/IraqiInstitut…
TxBrand: IIER Iraqi Institute for Economic Reform —-that’s what it about
Doug_W: NO clue Tx
TxBrand: I never get tweets from them… I got about 20 lol TxBrand: 20 youtubes
TxBrand: Capital law proposal 10
TxBrand: each you tube has a different number of law —-> Capital law proposal 7
TxBrand: there are about 20 of them… so my GUESS is they are passing a lot of laws lol
Doug_W: Git er dun Iraq
MichelleL: any money inside? lol good luck on your doc appt Doug! TxBrand you’re up pretty early
Doug_W: ‹@MichelleL› did I show U what we are looking at?
MichelleL: ‹@Doug_W› you showed me yesterday the willie nelson mobile!
MichelleL: I assume thats a “post rv” vehicle
Doug_W: yes 4 sure
Tex: Gotta big day planned , better see if I can get a couple eggs ,, have a good day.
chattels: ERBIL, Kurdistan Region – The government of Iraq will work with the Kurdish officials at the international airports in Erbil and Sulaimani in a bid to prevent citizens charged with corruption or wanted by the law from leaving the county.
“The Iraqi Commission of Integrity has planned to create coordination through the board of Erbil-Baghdad relations to prevent corrupt Iraqi leaders who are wanted by the court and with arrest warrants from traveling abroad,” Hassan Yasiri, head of the Iraqi Commission of Integrity, said on Monday in a statement.
The commission has sent a list of wanted Iraqi officials to representatives of the Kurdistan Regional Government (KRG) in Baghdad, according to the statement. “Names that were given to the KRG representative board in Baghdad include 2,171 administrative officials that are charged with corruption and they must be arrested before they flee,” Yasiri said — chattels: rudaw.net/english/middlee…
tourman: escape routes are getting few and far between
chattels: Sinead submit his resignation as a prelude to the return of al-Maliki to his parliamentary seat History of edits:: 2015/8/25 14:31 • 91 visits readable Sinead submit his resignation as a prelude to the return of al-Maliki to his parliamentary seat
chattels: Sinead submit his resignation as a prelude to the return of al-Maliki to his parliamentary seat
chattels: the return of al-Maliki to his parliamentary seat — chattels: www.alliraqnews.com/modul…
chattels: that Sinead, who has not won in the last parliamentary elections in 2014 has held the seat parliament as a substitute for former Prime Minister Nuri al-Maliki, who was named vice president Republic in the current government.
It is likely to be the resignation of Sinead as a prelude to re-seat parliament to al-Maliki after reunification Limbering government office in addition to the pursuit of obtaining the legal immunity as deputy after charges against him in the fall of the city of Mosul, …………..
chattels: Maliki is GONE ? ………………………….. gone back to Parliament it appears.
tourman: Maliki trying to weasel in to save his ars?
tourman: thought Abadi vacated that seat and part of the reforms?
chattels: The source told all of Iraq [where] that “the Council rejected its session today the integration of the ministries of electricity and oil ministry one.” chattels: www.alliraqnews.com/modul…
chattels: ‹@tourman› every higher office holder is first of all an elected member of Parliament it appears to me
lonegunman: ‹@chattels› GM ! well it seem’s business as usual and Maliki back to Parliament ?? lol
chattels: Mr.Maliki , if he is to be relieved of his VP position, intends to take his place in Parliament
chattels: ” in addition to the pursuit of obtaining the legal immunity as deputy after charges against him in the fall of the city of Mosul “
lonegunman: ‹@chattels› is’nt that great !
chattels: ‹@lonegunman› Maliki is a master of survival, eh ?
lonegunman: to say the least !
tourman: Just dont see him obtaining any immunity with all the has been brought to the view of the public. IMO it’s still just a matter of time.
lonegunman: he is very smart apparently and resourceful or has a lot of help
tourman: he is a scared man, smart or not, it is catching up to him. He is feeling the burn of that rope and he is squirming.
lonegunman: he does not look that smart !
lonegunman: ‹@tourman› I agree just hope he goes down
chattels: State law meets tomorrow to discuss the return of al-Maliki to parliament 2015/8/25 15:25 [Baghdad – where] MP for the coalition of state law declared Abdul Salam al-Maliki, that his coalition will be discussed tomorrow at a meeting to elect a governing body return of former Prime Minister Nuri al-Maliki to the House of Representatives.
He said al-Maliki, told all of Iraq [where], that “al-Maliki has so far not made a final decision whether the subject of his return to the House of Representatives or not,” pointing out that “there is a meeting of the state of law tomorrow to elect a governing body, and will be sure of it.”
tourman: Thought we had read “ink” on some of the most important supporters of Maliki have defected?
lonegunman: ‹@tourman› ink or opinion ?? lol
tourman: ink :w00t:
chattels: ‹@tourman› Maliki is. for the time being, still President of the SLC and Secretary – General of the Dawa Shura Council according to recent news
chattels: Oil Minister: we paid off $ 9 billion late for foreign companies [Baghdad-where] Oil Minister Adel Abdul Mahdi said on Tuesday that the race hit the foreign oil companies to nine billion dollars for the last remaining 2014 and 2015 Ana will pay the arrears in stages until the beginning of 2016.
Said Abdul-Mahdi, in a press statement, that “the ministry has with the help of the Ministry of Finance and the Central Bank and the support of Prime Minister to pay $ 9 billion for the rest of the dues in 2014 to oil companies, chattels: www.alliraqnews.com/modul…
Fit2beFit: But doesn’t Maliki own and CONTROL many of the news sources from over there
tourman: With all that has come to life from the “file” his gravitas has got to be null and void even with some the other members of the SLC…
chattels: ‹@Fit2beFit› to my knowledge not the news sites that i post from
Fit2beFit: Sorry to say after watching so much stated and yet nothing really happening, I kinda take Iraq news with a grain of Iraq salt…lol.
lonegunman: ‹@Fit2beFit› so it has been reported before , I am sure he does
Fit2beFit: ‹@chattels› how do you really know what he owns and controls
lonegunman: ‹@Fit2beFit› a shaker of salt
chattels: Rudaw, al Monitor, AIN, NINA are the four that i use
whitelions: ‹@Fit2beFi gm and he owns 2 papers and we don’t post any news that they put out mostly because they have so much male ware on them they bog down our computers
tourman: prosecution of the roundup of corrupt boneheads surely includes this man. How could it not??
Fit2beFit: If he owns only 2 you know he has inside and powers in more, im sure
whitelions: and 2nd because as you said he owns them and everything they print on Maliki is a lies
whitelions: ‹@Fit2beFit› if he did most have gone because they can see the writeing on the wall even if he can’t
chattels: believe *
Fit2beFit: Maliki maybe rolling problems, BUT it seems along side of him, Iraq has side stepped him and are making many more steps now besides him and behing him then they did when he was in control
whitelions: I have been posting the news for 3 years now and been reading only the news for 8 years I have watched as the papers have creeped away from Maliki and the weeker he gets the more they report againsted him
Fit2beFit: He seems to be no longer a stop sign like he was before
whitelions: ‹@Fit2beFit› so true
tourman: ‹@Fit2beFit› I agree that this man is just a minor snafu in the face of full blown reforms that are taking place as we speak. I think placing any importance to this man and his influence is a moot point. We will see what we seek in due time, sooner rather than later IMO.. This is sooo much bigger than M.
Fit2beFit: The until Malik is gone we will not see an RV talk is just that..TALK
Fit2beFit: A while back, YES…now..NO
whitelions: and he hates it for some reason once your a dictator you can’t see past that and when the end is coming so when you fall it’s like being jack slaped out of the blue thats where Maliki is now it happens to all dictator that get over thrown and this is a over throw in the best possable way
Fit2beFit: Maliki cant fight anymore, he either goes with the full or they will just push him aside like they have started to do
tourman: Iraq’s survival and success will steamroll anything that the SLC has in mind for Maliki. It is written as we speak. The world is moving forward with Iraq and as we see in the news, Iran. Why would U.K. open a fricken embassy in Iran? $$$$$$$$$$$$$$ to be had.
Why are countries spending billions in Iraq? $$$$$$$ for them. Maliki is a speck of a nuisance and that is all. Of course IMO.. :w00t: :dizzy:
whitelions: I would not call that an opinion I’d call that a fact lol but thats me lol
tourman: ‹@whitelions› 😀
tourman: off for some waffles…. later peeps :cheerful:
whitelions: doing Loundry cya later
Wmawhite: [I just got an article…talking about dinar against other currencies and oil price: “Iraqi dinar compete Arab currencies in the exchange rate”]
Currently the IQD is not competing against anything… therefore, if this person is correct and the IQD is going to compete within the world currency markets, then its status must change first. Meaning, currencies compete based upon exchange rates… therefore, it must have an exchange rate with which other currencies will exchange with.
[so does that mean maybe an rv soon?]
There is NO maybes with the IQD…there is only WHEN the IQD starts moving within the world currencies markets. Personally, they (the CBI, GOI and ISX) have issued so many indicators that point to a change in the status of the IQD.
Millionday: NOTE — THE PRIVATE SECTOR DEPENDS ON THE REFORMS BEING BALANCED AND RELIANT FOR THEM TO LAUNCH AND PUSH THE ECONOMIC REALITY TO THE LIGHT
Millionday: But such a procedure requires the requirement based on the gradient to take appropriate measures to enable those institutions steps of the sustainability of the reform, ‘being seen as the partnership as an ongoing relationship with no fixed time limit or may be for long periods of time.
and must be the maker of the economic decision to avoid yielding to political haggling and independence of its decision in order to achieve optimal feasibility of the allocation of economic resources.
Millionday: NOTE — THEY ARE GOING TO BID OUT SOME OF THE GOVERNMENT PROJECTS TO THE PRIVATE SECTOR TO HELP BUILD THE IMPACT OF THE REFORM
Millionday: It can not be a balance between the desire for a public street and to demand the government to provide government support almost completely to the community and the urgent need to adapt the support and increase its effectiveness through directed properly towards the target groups exclusively they can be adequately circulate utility to new segments of the society.
Adjust spending There is also a Aware of the fact that the only way to reduce the budget in Iraq deficit is to expand and diversify its public revenue sources of non-oil conjunction with adjusting public spending,
and to diversify sources of revenue requires a specific mechanism to find alternatives in line with the reality in Iraq, which suffers a number of imbalances limit the government’s ability to find sources other than rents put oil to finance its activities.
Millionday: NOTE — THEY MUST FOCUS ON THE PLAN AND ITS PROCESS INSTEAD OF MAKING CHANGES THAT WILL SHOW IMMEDIATE PROOF OF SUCCESS BUT LONG TERM PROBLEMS —
Millionday: We find, for example, the dominance of indirect taxes on the tax structure in Iraq, which indicates to bear all segments of society and without exception the tax burden represented by the high prices of various commodities,’
something that we have seen in the Iraqi street during the last few days of a sharp rise in prices of some commodities food and even experience a tax on prepaid mobile phone cards that have been moved burden to citizens without affecting profit phone companies mobile.
that the state should use its financial instruments, Bugeaha of spending and taxes simultaneously and consistently, due to their role in achieving some of the goal
Millionday: Economic and contribute in one way or another in the process of economic reform through the reform of the investment program at the expense of operating expenses and this requires an effective and capable private sector to employ existing with financial institutions unemployment
able to encourage this sector at reasonable cost and to develop an acceptable mechanism to diversify its public revenue sources of non-oil are socially acceptable and to avoid the transfer of burden to individuals and the community to avoid congestion.
Millionday: SO THE IDEA IS TO IMPACT ALL OF IRAQ AND MAKE SURE TO ALLOW PROJECTS TO GAIN IN TWO FOLD — JOBS AND PRIVATE SECTOR GROWTH
Nadita: they have been talking about this for a while.. I want to know when are they going to implement this..? the plan sounds good and they are actually on the right path now
Millionday: THE FIRST REPORT SAYS THEY ARE IN THE PROCESS ——NOW
Millionday: JUST ONE FROM ISX — I WILL BRING MORE — READ THE LAST LINE
Millionday: Investment Bank of Iraq (BIBI) will hold its AGM* on Sep. 5, 2015
Investment Bank of Iraq (BIBI) will hold its AGM* on Sep. 5, 2015 to discuss and approve 2014 annual financial results, electing new board members and distributing cash dividend.
Investment Law Download
Iraqi Banks Law Download
Iraqi Companies Law Download
Iraq Securities Market Law Download
Disclosure Rules for Stock Holdings on the ISX Download
Selling Order Download
Buying Order Download
ISX Trading Instructions for Non-Iraqi Investors Download
Millionday: the joy of pumice in line with the economic reforms announced by the government recently, the Commission on oil and energy parliamentary called to speed up the approval of the oil law,
which confirmed it was investigating growth in the country’s imports through the optimal investment for this wealth to be adopted by the country.
Millionday: NOTE — OBVIOUSLY THE RICHES ENJOYED IN OIL BY IRAQ WILL HAVE A ROLE IN ITS PLANNING–REFORMS–FUNDS–EXPECTATIONS-SUCCESS ETC –
DIVERSITY IS BEING SOUGHT DUE TO THE LOW PRICES AND OTHER UNEXPECTED COSTS RECENTLY
Millionday: A member of the Committee, Dr. Ibrahim Bahr al-Ulum in a statement »Sabah»: «At the beginning of the legislative term government asked the parliamentary committees activate the stalled bills, especially the oil and gas law, which invited the Commission to reconsider the draft oil and gas law,
but the government requested that the draft law to the cabinet. » He continued: «the law is still in the corridors of government and the advisers»,
indicating that «We were informed of the formation of a committee to review the draft law, but he did not send so far to the House of Representatives to discuss».
Millionday: NOTE – WORK IS BEING DONE TO MOVE THE HCL IN A HURRY DUE TO THE IMPACTS I JUST DISCUSSED ETC
Millionday: In the opinion Bahr al-Ulum said the draft law last form has become useless and need to thinking seriously and realistically about the new draft.
The oil and gas law «important» because it solves a lot of dilemmas that exist between Baghdad and Erbil and between the oil-producing provinces, and therefore, the law draws the oil policy of the country.
Millionday: It was suggested that a committee member dismantle the current draft law and re-drafted and implemented in two phases according to the needs of the country,
the first states the formation of «Federal Council for Oil and Gas» managed by the Prime Minister and some Government members regulars with the participation of representatives of the producing provinces, and the elements of an independent specialist in this field, to draw the Council’s energy policy in general in the country.
Millionday: NOTE — THEY ARE ASKING TO DIVIDE THE PORTIONS OF THE HCL SO THEY CAN MOVE FORWARD WITH SPECIALISTS AND ENERGY POLICIES
Millionday: NOTE — THIS IS A GOOD LOGICAL IDEA IMO
Millionday: The second phase focuses on passing a law «National Oil Company», especially that he read the first reading at the last session, and now needs to approve,
saying that it was commensurate with the aspirations of the founding of this company to be the parent company for all extractive companies in the country, and are joined by the Oil Marketing Company Crude,
stressing the possibility of dealing with these phases separately, especially since the current version does not fit with the current stage witnessed by the oil arena in the world and Iraq, especially the requirements.
Millionday: NOTE — SO AFTER THE INVESTMENT PORTION — STEP TWO IS TO MAKE THE NECESSARY POLICY CHANGES FOR THE LONG STANDING NATIONAL OIL COMPANY —
Millionday: In terms of reforms, especially the reform of the oil file, see Bahr al-Ulum that should there be administrative reform in the oil sector is to become the Ministry of Oil hand involved in policy-making and monitoring and proceeds and issued the instructions, either the executive arm of the Ministry of Oil must be the national oil company,
As in place this in the world, thus there is a separation between the executive work entrusted to the national oil company, and between the work of the Ministry of Oil in the oil policies, instructions and regulations drawing, noting that this is the administrative reform of the President.
Millionday: NOTE — OBVIOUSLY THEY HAVE BEEN WORKING ON THIS FOR SOMETIME AND NOW ARE SEARCHING FOR A WAY OF REDEMPTION
Millionday: He added by saying: The «oil company must be independent and possess Personal moral, financial and administrative even be able to manage the oil’s executive »,
believing that the Ministry of Oil management and policy formulation, monitoring and implementation is an« obstacle »to any progress in the oil sector.
Nadita: Are they going to redraft the HCl again and again..? I thought it’s done
Pablo: What happened to all the reforms that were supposed to kick in today?
Millionday: THEY ANNOUNCED THEY ARE IN THE PROCESS
Millionday: SEPTEMBER 4-5-2015 .. FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING
The G20 Finance Ministers and Central Bank Governors’ Meeting will be held on 4-5 September, 2015 in Ankara
Millionday: NOTE — THE THING IS THAT IS SO IMPORTANT IS THAT THE REFORMS ARE MOVING FORWARD — MEANING THE ECONOMIC — IN THE PROCESS NOW —
SO LETS PAY ATTENTION AND FOLLOW THE NEWS THIS WEEK AS WE WATCH TO ENSURE THEY ARE MOVING AND POLICIES ARE COMING WITH THEM –
KNOW THE HCL IS BEING PUSHED IN A HURRY AND CBI HAS STATED THAT THE TIMING IS RIPE — THIS IS A VERY EXCITING TIME
Millionday: SO — DUE TO THIS ROUND TABLE IS BOTH WED AND FRIDAY AND NEWSTIME IS ALL NIGHTS —
Millionday: DONT MISS IT AS WE WATCH AS THEY IMPLIMENT THE ECONOMIC AND ALL REFORMS — REMEMBER THIS INCLUDES ALL BANKING — ISX — AND ALL INDUSTRY AND THE PRIVATE SECTOR —
Millionday: CHINA IS WAITING TO IMPLEMENT THREE MAJOR CONTRACTS AND THE CONTRACTS OF OIL WILL BE DIVIDED FROM HCL FOR A RUSH IN THIS VERY IMPORTANT LAW
Pablo: Sorry, ‘In Process?’ what does that mean, exactly?
Millionday: IT MEANS —-THEY HAVE BEGUN — IN INK
Millionday: THE ECONOMIC REFORMS HAVE BEGUN AS STATED THEY WOULD
Millionday: SEE EVERYONE TOMORROW NIGHT AND DURING DAY
Millionday: THIS WEEK IS AN IMPORTANT WEEK TO WATCH SO I WILL BE HERE
Millionday: I ALSO WILL BE POSTING TO THE MILLIONDAY SECTION — SO LOOK FOR LAWS AND POLICIES