[19:19:07] TRC: stock market is really optimistic
[19:19:22] TRC: continues rocketing north
[19:19:35] design: yes
[19:21:15] design: couple interesting posts
[19:22:10] TRC: which
[19:22:58] design: support the dinar and strengthening purchasing power
[19:24:11] design: delay of budget law?
[19:24:53] TRC: yep, for some reason it has not yet been posted in iraqi law gazette
[19:25:23] design: hmmm ok
[19:25:32] TRC: political reason?
[19:25:45] TRC: or economic..
[19:26:14] design: don’t know…
[19:26:52] TRC: holidays are over
[19:27:02] TRC: so this should be resolved
[19:27:25] design: right, hope so
[19:31:03] design: CBI saying several days ago “central bank not devoted to change exchange rate against US dollar?
[19:31:15] TRC: lol
[19:31:28] TRC: what do you think they meant
[19:31:28] design: more hogwash
[19:31:56] TRC: some say it means they will not devalue the dinar
[19:32:26] design: yeah.. maybe
[19:33:01] TRC: many iraqis are worried about a weaker dinar
[19:33:05] TRC: lol
[19:33:19] TRC: remember they are talking to iraqi’s
[19:33:25] design: if they only knew.. lol
[19:33:39] design: that’s right
[19:33:48] design: have to remember that
[19:34:45] TRC: postal bank is interesting too
[19:35:18] TRC: they can take their dinars and transfer to any country converting to any currency
[19:35:44] TRC: in minutes
[19:35:47] design: yes…. amazing
[19:37:38] TRC: they have Western Union over there but I think they only use USD
[19:44:54] AMG: it’s 2-0-1-7
[19:45:01] AMG sent an audio message: Yahoo!
[19:45:31] TRC: yep
[19:45:40] TRC: last year waiting
[19:46:12] Tf: did you read the article about the UN keeping Iraq in Chapter 7?
[19:46:16] AMG: another year of hope………………is upon us
[19:46:27] TRC: no
[19:46:58] AMG: no
[19:47:16] Tf: did you read the article that they will take another three months to liberate Mosul?
[19:47:27] AMG: will this (finally) be our year???????????????????
[19:47:40] Tf: I sure hope so, AMG
[19:48:28] TRC: that was somebody’s opinion
[19:49:12] TRC: iraqi forces killed between 3-500 daash in last few days
[19:49:31] TRC: took three more neighborhoods in Mosul
[19:50:30] TRC: its one block at a time
[19:51:22] TRC: they are fighting day n nite
[19:51:31] TRC: advancing every day
[19:51:38] AMG: yup, a tedious and dangerous undertaking they have ahead
[19:52:11] TRC: I do not think iraqi army fought like that against US army
[19:52:41] TRC: they surrendered in droves
[19:53:15] TRC: daash is fighting like hitler youth and the japanese
[19:53:42] TRC: but they are crazy as hell
[19:55:03] AMG: for sure
[19:55:48] TRC: that’s one of the reasons iraqi army fled
[19:55:54] TRC: in 2014
[19:56:11] TRC: crazy animals were feared
[19:56:52] TRC: saddam was feared that’s how he earned respect etc.
[19:57:25] TRC: the law in middle east be feared
[19:59:18] TRC: but iraqi army is no longer an amateur group, they have created their own heros and know they are capable now to defeat an enemy moreso every day
[19:59:34] When is RV?
[19:59:34] Do we have date and rate
[20:01:23] TRC: Abadi said recently Iraq is more united than maybe ever in history
[20:01:39] TRC: thanks to daash
[20:02:47] AMG: …the common enemy
[20:06:30] TRC: ISX has went up over 50 points in last few months
[20:06:44] AMG: ^.^
[20:07:11] TRC: in percentage that is nice return if you invested the ISX60 index
[20:08:33] TRC: I think it will hit 1000 this year
[20:09:07] TRC: that is about 40% increase
[20:09:33] TRC: so if invested you will get 140% back
[20:09:53] TRC: in the ISX60 index
[20:10:26] TRC: individual stocks of course could make alot more
[20:10:45] TRC: if you know what to buy
[20:24:33] TRC: “the general budget law of the current fiscal year is still in the corridors of the Finance Committee is awaiting administrative orders of the Presidency of the Council of Representatives for transmission to the President of the Republic Fuad Masum, the aim sincere in its publication in the Official Gazette.”
[20:39:19] TRC: a lildelay
[20:40:22] TRC: it is a good thing that we did not see anything today
[20:40:32] TRC: just saying
[20:41:27] TRC: any change on first day of fiscal year is certainly a lop
[20:47:12] TRC: Adopting resolution 1958 (2010) on oil-for-food by a vote of 14 in favour to none against, with one abstention (France), the Council authorized the Secretary-General to establish an escrow account to ensure that $20 million of the Iraq Account was retained until 31 December 2016
[20:47:54] TRC: The Council also authorized the Secretary-General to ensure the retention of up to $131 million in the Iraq Account, in escrow, to indemnify the United Nations and independent contractors for a period of six years regarding all activities in connection with oil-for-food since the programme’s inception.
[20:48:37] TRC: this was supposedly settled
[20:49:50] TRC: but another news site, said they were going to wait til march 2017 to see if any are still claiming financial dues from Iraq
[20:50:25] TRC: iraqi government said they cannot find any claimants
[20:51:15] TRC: United Nations will give these supposed claimants another 3 months to do it
[20:51:43] TRC: has no effect on currency plans..
[20:52:10] TRC: there is an account at United Nations for this
[20:52:50] TRC: if the claimants do not show themselves by end of March Iraq will get the funds in the UN account
[20:53:16] TRC: approximately, 150 million in June
[20:54:45] TRC: 150 million dollars does not affect Iraq concerning iraqi dinar restructuring
[20:54:59] TRC: one way or the other
[20:57:29] TRC: an earlier news release in iraqi media said oil for food law suits were settled
[20:58:14] TRC: but United Nations decided to give it a little longer to see if they can find the claimants from saddam’s era
[20:58:34] TRC: maybe they passed away etc
[20:59:05] TRC: it was supposed to end December 31st
[20:59:35] When is RV?
[20:59:35] Do we have date and rate
[21:00:29] AMG: oh
[21:03:13] TRC: I guess UN Security Council felt Iraq was not trying hard enough to find the claimants
[21:03:25] TRC sent an audio message: Bogus
[21:04:22] TRC: they thought they were getting a transfer of 150 million into their bank accounts
[21:04:30] TRC: this week
[21:38:04] Agus: where are we now? still poor? 🙂
[21:38:48] TRC: 😀
[21:39:08] TRC: we are rich since we know each other
[21:41:21] Agus: CBI said deletion zeros will start at beginning 2017, until now CBI still quiet hehehe
[21:43:51] Agus: how is budget 2017 news? was it get approve?
[21:44:33] TRC: it was approved
[21:44:50] TRC: but it has not been ratified into law
[21:45:58] Agus: why still wasn’t ratify into law?
[21:46:15] TRC: holidays maybe
[22:08:11] TRC: Governor of the Central Bank of Iraq Ali Allaq revealed to delete the zeros of the Iraqi currency, began to develop the first steps of the support of the Iraqi dinar project.
[22:08:32] Agus: hmm , very good news
[22:08:34] TRC: published in Arabian Business a few hours ago
[22:08:56] Agus: Oh my good in official news
[22:09:05] Agus: it is very serious
[22:09:07] TRC: He said in a statement, that the aim of the deletion of three zeros is to support the Iraqi dinar, make it a competitor to foreign currencies, pointing out that this strategic project will serve the country’s economy, as the dinar will be included in the global basket of currencies in the vital exchanges.
[22:09:29] TRC: He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017. He pointed out that the introduction of the new currency does not mean the destruction of ancient coins, but will continue to trade for about 10 years.
[22:10:01] Agus: I hope it is not recycle news :0
[22:11:38] TRC: it was posted in a news service outside Iraq
[22:12:03] TRC: it was echoing CBI announcement earlier
[22:13:45] TRC: Tuesday morning
[22:14:45] design: 🙂
[22:18:35] TRC: but how they are going to do it, we must see
[22:19:32] TRC: I understand that they are going to issue 200, 100 50 to start, then issue smaller categories consecutively every 3 months
[22:20:09] TRC: until they have release coins of a fils category
[22:20:10] AMG: that’s the plan……………
[22:20:41] TRC: but we really will not fully understand until we see it happening
[22:20:59] AMG: yup
[22:21:27] Agus: slow implementation it think
[22:21:28] design: that a good plan……
[22:21:44] TRC: if it was going to be in 2017, and be a lop it would have started out today with new currency from top to bottom
[22:21:48] AMG: as long as IT happens THIS year ^.^
[22:22:02] TRC: it did not
[22:22:13] AMG: 🙁
[22:22:14] TRC: so this is good news I think
[22:25:31] Agus: for early workday in 2017 this is good news for start
[22:26:09] TRC: Arabian Business is as it says a middle east business news site
[22:26:18] TRC: so ..
[22:26:27] TRC: take it for what it is
[19:59:28] TRC: ISX held it’s last session today
[19:59:29] Tf: Abadi and the Iraqis keep moving the ball
[19:59:34] When is RV?
[19:59:34] Do we have date and rate
[19:59:50] TRC: next Monday start of new year
[20:00:41] Tf: …things are interesting…
[20:10:07] TRC: E-dinar is close to being launched by looks of it
[20:13:27] design: good news
[20:13:41] design: 🙂
[20:15:09] TRC: Abadi said in a speech, next year Iraq will open economically to the world
[20:18:16] TRC: all Chapter 7 files are now closed except Kuwait compensation debt
[20:20:59] design: cool
[20:21:32] TRC: FATF of course removed iraqi banking from black list
[20:21:52] design: right
[20:22:05] TRC: so .. Iraq just needs to pay off Kuwait, but this may take a few years yet
[20:22:23] design: ok
[20:22:48] TRC: is not a factor with getting convertible dinar
[20:23:13] TRC: Kuwait and Iraq have a good relationship now
[20:23:30] TRC: they are supposed to meet in next week
[20:23:42] design: good deal
[20:23:52] TRC: concerning borders and other economical issues
[20:30:23] AMG: Happy Boxing Day
[20:30:55] TRC: Happy holidays
[21:17:49] TRC: “Zain Cash” service launched from Iraq a new platform entitled “Junbr” to promote the field of e-commerce and online shopping, which allowed for companies and business owners referred for display of commodities and goods through the gate “Junbr” shopping, in addition to the electronic payment feature via the “Zain Cash” service The move to integrate with other services offered
[21:18:28] TRC: transform their phone into a mobile wallet
[21:18:46] TRC: “Junbr” platform to activate e-commerce through the application of “Zain Cash” by enabling traders and companies from opening e-stores to display products and start selling in a process that takes less than 24 hours
[21:19:32] TRC: “the new electronic platform “Junbr” allowed the opportunity to conduct various business dealings purchasing of goods and merchandise are flexible and easy for trader in offline markets, in addition to the largest subscribers to communicate with a number of traders and their goods marketed electronically, as well as the mechanism of electronic payment through the gate, “Zain Cash” steps simple and
[21:19:41] TRC: safe
[21:20:36] TRC: Ministry of Justice Saturday announced the resolution of twenty external law suits in recent period in favor of Iraq, to restore $150 million to Iraq as a result of the resolution of the oil – for – food file.
[21:21:37] TRC: “the Iraqi Foreign ministry led six rounds of important negotiations with the General Secretariat of the United Nations and the views of contracting with them in New York and Paris in order to implement one of the requirements of Security Council Resolution No. 1958 of 2010 private exit Iraq from Chapter VII after commitment to end the oil-for-food and medicine program.”
[21:22:13] TRC: “Iraq thus fulfilled the obligation before the final decision regarding release from under Chapter VII, as left only completing compensation with neighboring Kuwait”.
[21:22:56] TRC: Rafidain Bank stressed the importance of e – cash and its effect on increasing the money supply within the banking system as it contributes to the creation of deposits out of bank records and helps to monitor and control the movement of these deposits.
[21:23:16] TRC: Stressed the need to license work instruments before issuing the e – dinar with the emphasis on raising public awareness of distasteful regimes in electronic payment system.
[21:23:50] TRC: “The central bank will take new legal action against banking offices contrary to the official dollar exchange rate over the next few days.”
[21:24:07] TRC: “those measures aimed at reducing the dollar and support the Iraqi dinar against other foreign currencies and reduce dependence on the black market price.”
[21:24:46] TRC: Sunday, the establishment of a unified electronic system for issuing import licenses within the concept of e-governance.
[21:25:26] TRC: During the meeting included representatives from the finance, interior, agriculture, health, environment, science and technology, industry, minerals, body of Customs, the Directorate of border crossing points, the body of national control, Office of Financial Supervision and the National Intelligence Service to discuss Ministries establish an electronic system for issuing import licenses
[21:26:04] TRC: Delta electronic systems which prepared the electronic import system presented at the meeting a detailed explanation about the nature of this regime and how to deal with by the relevant authorities and facilities for the person who purports to get the import license after a visit to the official website of the system and fill fields with the required information in addition to linking the system
[21:27:53] TRC: Early January Iraqi Banking Forum held in Beirut to discuss the development of the banking sector of the country and the wide participation of local, Arab and foreign banks operating in Iraq.
[21:28:14] TRC: “The Iraqi delegation will be headed by the governor of the central bank Ali Allaq, will leave next month to participate in Iraq’s banking conference held in Beirut from January 11th to 13th,” stressing that “the conference will discuss the challenges facing the banking sector and addressing the outstanding problems facing them.”
[21:28:37] TRC: “the conference will discuss the strengthening of relations between the Iraqi, Arab and foreign banks with a view to ending the problems between the parties and a lack of confidence generated during the last period as a result of statements by some officials.”
[21:29:09] TRC: 45 private banks are using a newly electronic system under the leadership of the Association of private banks led by Assyria Handal bank manager.
[21:31:02] AMG: :whistle:
[21:31:51] design: lots happening
[21:34:34] AMG: yup
[21:34:38] TRC: Iraq resolved all legal matters concerning chapter 7
[21:34:44] AMG sent an audio message: Oh Boy!
[21:34:46] TRC: 🙂
[21:35:10] TRC: in other words they can go global now
[21:35:33] TRC: no international law suits to worry about
[21:35:57] AMG: what are they waiting on………………………..let’s go Iraq 🙁
[21:36:00] TRC: concerning Saddam era finances
[21:36:09] AMG: good
[21:36:13] TRC: took a long time
[21:36:47] AMG: finally it’s done
[21:36:54] TRC: most of the issues were solved in last 12 months
[21:37:06] TRC: thanks to Abadi
[21:37:10] AMG: 😉
[21:37:17] AMG: YES
[21:42:09] TRC: FATF lifted iraqi banks off black list, things look real good
[21:42:37] design: 🙂
[21:42:41] AMG: 😉
[21:42:52] TRC: no excuse now not getting article 8 launched with IMF
[21:43:19] TRC: which puts IQD back on list of currencies in SDR basket
[21:43:31] AMG: as we wait and see
[21:44:32] TRC: some say IQD was frozen when chapter 7 was slapped on Iraq, at it previous exchange rate?
[21:44:47] TRC: :whistle:
[21:45:44] TRC: what was previous rate in 1990
[21:47:07] TRC: 3.20?
[21:48:20] AMG sent an audio message: Say What?!
[21:48:28] AMG: lol
[21:49:30] TRC: yes
[21:49:50] TRC: 3.20 was the exchange value it was fixed rate
[21:50:37] TRC: but after chapter 7 value dropped
[21:50:42] TRC: fast
[21:50:50] AMG: yes
[21:51:14] TRC: so in January it will be 3.20 per Dinar
[21:51:27] AMG: what year
[21:51:31] AMG sent an audio message: Laugh
[21:51:43] TRC: when article 8 is launched
[21:51:59] TRC: it will return to its previous value
[21:53:03] TRC: CBI will issue instructions with international banks on exchanging
[21:53:31] AMG: hopefully SOON
[21:53:36] TRC: number of banknotes will drop fast to 1 billion
[21:54:15] TRC: I am speculating to a degree..
[21:54:30] TRC: just one scenario
[21:54:33] TRC: lol
[21:54:44] TRC: on 3.20
[21:55:38] TRC: if anybody really knows.. some would believe if they said the above, others would not
[21:55:47] AMG: gimme a dollar………………..AMG is not greedy
[21:56:24] TRC: not sure of any situation that mimics Iraq’s
[21:56:32] TRC: in history
[21:56:49] TRC: except maybe Germany
[21:57:22] TRC: Iraq was under chapter 7 much longer tho
[21:57:51] TRC: Germany rebuilt politically much faster
[21:58:34] TRC: but the former bureaucrats under hitler were not replaced for one reason they were fast
[21:58:53] TRC: everyone was replaced in Iraq
[21:59:37] When is RV?
[21:59:37] Do we have date and rate
[22:01:44] design: 3.20 is a great scenario ……
It has come to My attention that USA bank, Citizen bank has returned to selling IQD. I also been told Chase, Citibank and TD bank has also returned or begun selling IQD.
Anybody else can confirm any banks out there selling IQD?
[20:30:13] TRC: CBI governor said new lower currency categories will begin issuing in early 2017
[20:30:28] TRC: or by end of year
[20:31:50] design: guess that tells us something!
[20:31:54] TRC: this time it is definitely more likely
[20:32:21] TRC: especially since FATF IS REMOVING ALL RESTRICTIONS ON THE CENTRAL BANK
[20:33:48] TRC: I believe this is definitely the real deal
[20:34:09] TRC: lol have said before but learned so much since
[20:40:24] design: lol
[20:41:30] TRC: IMF is meeting monthly with CBI so they should get things done right
[20:42:18] design: yes, hope so
[20:43:16] TRC: they meet again in november
[20:43:43] TRC: things are going at break neck speed compared to last ten years
[20:44:02] design: right
[20:44:47] TRC: cannot see any cancelling issues of this announcement albeit of a military coup, or WW3
[20:44:56] TRC: :whistle:
[20:45:13] design: wonder if they would rv prior to new lower currency…… or after
[20:45:54] TRC: CBI said the edinar will be launched by end of year or early 2017
[20:46:02] TRC: if you recall
[20:46:16] TRC: that is convertible dinar
[20:46:28] TRC: electronic global currency
[20:46:42] design: thats right!
[20:46:57] TRC: the value currently is set during sanctions not real global value
[20:46:59] design: forgot
[20:47:01] design: lol
[20:47:24] TRC: all restrictions will be lifted on central bank
[20:47:44] TRC: we will see
[20:47:55] design: right
[20:47:57] TRC: not sure what the value will be
[20:48:31] design: thats the big question too
[20:56:26] TRC: and the money laundering law and financing of terrorism
[20:57:00] TRC: this lifts a number of UN security council resolutions on Iraq
[20:57:23] TRC: Chapter 7 now is lifted 100%
[20:58:47] TRC: of course officially yet has not happened it will shortly
[20:58:59] TRC: by end of year
[20:59:24] TRC: will be official announcement no doubt
[21:00:50] TRC: everything has been done, official date not announced
[21:01:06] TRC: maybe November
[21:01:47] TRC: November 1st the old trade agreement with arab states becomes null n void
[21:02:01] TRC: new system begins
[21:06:57] TRC: for first time in 13 years new trading agreement goes into effect
[20:26:25] TRC: Iraqi government considering paying kurdish government employees
[20:26:34] TRC: instead of Erbil
[20:26:41] TRC sent an audio message: Drumroll
[20:27:06] TRC: this goes thru Baghdad will take control of kurdish finances
[20:27:23] AMG: hey ^.^
[20:28:32] TRC: the law on terrorist financing has been published in iraqi gazette
[20:28:38] TRC sent an audio message: Drumroll
[20:29:16] TRC: this is what Financial Action Task Force was looking for to remove all restrictions on central bank
[20:29:31] AMG sent an audio message: Oh Boy!
[20:30:20] TRC: took so many years to get this law, but I think it was mainly due to stupidity of the elected officials
[20:30:36] AMG: lol
[20:31:02] TRC: many leaders early on did not have a high school education
[20:33:03] TRC: now that IMF has taken control
[20:33:11] AMG sent an audio message: Drumroll
[20:33:20] TRC: they know what has to be done
[20:33:44] TRC: instead of listening to Maliki as they did the last 8 years
[20:33:52] AMG sent an audio message: Bogus
[20:34:31] TRC: so you could say.. the downturn in oil has benefited Iraq and us in short term
[20:36:44] TRC: allowed IMF to come in
[20:38:37] AMG: yup……………………that’s a good thing
[20:39:03] AMG: take charge to do it right
[20:39:25] design: good deal
[20:40:14] TRC: there is UN, US Treasury, IMF and Worldbank experts going thru the books and advising iraqi financial advisers on how to move into global financial markets
[20:40:55] AMG: they needed all the help could get
[20:40:59] TRC: which in turn get removal of Iraq from black list by FATF
[20:41:01] AMG sent an audio message: Drumroll
[20:41:27] design: cool
[20:41:37] AMG: 😉
[20:11:50] AMG: slow news weekend 🙁
[20:12:24] TRC: oh?
[20:13:28] AMG: not much chatter in dinarland………except the Yuan in the SDR basket
[20:13:33] AMG sent an audio message: Drumroll
[20:14:05] AMG: anticipated
[20:14:53] AMG: Russia warns US about SYRIA Aleppo
[20:15:01] TRC: Iraq signed agreement to start shipping line to ship goods to and from Iraq
[20:15:17] AMG: ohyeah
[20:15:18] TRC: with Global Marine
[20:15:38] TRC: they have four ships now will get more
[20:16:04] TRC: they used to have more before war with Iran
[20:16:45] TRC: these four are brand new
[20:17:07] TRC: will be ordering more from korean ship builder
[20:17:17] AMG: yes
[20:17:21] TRC: container and freight
[20:17:44] TRC: grain and dates too for export
[20:18:38] TRC: US congress failed to approve the funding of half iraqi bonds last week
[20:18:50] AMG sent an audio message: Yell!
[20:18:58] TRC: was republicans would not pass it
[20:19:01] AMG: 🙁 saw that
[20:19:05] AMG sent an audio message: Yell!
[20:19:14] AMG: jerks
[20:19:21] TRC: mostly because election year I think
[20:19:51] TRC: never seen such a crazy election year
[20:21:36] TRC: CBI governor said in the official news paper of Iraq, Iraq has been approved to financial white list
[20:22:33] AMG: huh?
[20:22:37] TRC: FATF has approved Iraq, lifting all sanctions on financial trading
[20:23:27] AMG: awesome
[20:25:42] TRC: executive director of association of iraqi banks said will cooperate with CBI through establishment unit to combat money laundering in each bank
[20:26:29] TRC: 40 experts have been trained in global standards
[20:26:39] TRC: will be in each bank
[20:27:43] AMG sent an audio message: Drumroll
[20:28:04] TRC: Iraq classification on white list reflects positive image to move money
[20:29:14] TRC: global organisations recognize importance of Iraq on the international economy
[20:29:43] AMG sent an audio message: Oh Boy!
[20:30:13] TRC: 300 currency exchange offices have been put on black list
[20:30:47] AMG: so when do we exchange??? lol
[20:30:50] AMG sent an audio message: Laugh
[20:30:57] TRC: cooperation between CBI and US Treasury on status of these companies
[20:31:43] TRC: this is first time there is coordination with US bank
[20:32:04] TRC: will continue
[20:32:10] AMG: cooperation
[20:32:19] AMG: nice
[20:32:43] TRC: CBI will link with US Treasury
[20:32:54] TRC: permanently
[20:33:01] TRC: electronically
[20:33:58] TRC: activating the memorandum of understanding with United Nations
[20:34:41] TRC: allowing international investigators to investigate for looted funds inside and outside of Iraq
[20:35:41] TRC: on the surface it looks like Iraq is going global sooner than later
[20:36:03] AMG: 😉
[20:37:29] TRC: October 1st it began by looks of it
[20:37:53] TRC: all above news
[20:39:04] TRC: IMF meetings start next week
[20:42:23] AMG: :-c
[20:45:58] TRC: will see ships with iraqi flag some where some time
[20:55:59] TRC: US fiscal year starts monday
[20:59:15] TRC: CBI was closed today
[20:59:27] TRC: islamic new year
[21:00:18] AMG: MONDAY it is
[21:00:56] design: seems lots happening
[21:01:33] TRC: serial numbers on banknotes now will be able to be sent instantly to US Treasury electronically
[21:01:41] AMG sent an audio message: Drumroll
[21:01:47] AMG: 😉
[21:02:22] TRC: alot has happened in last 12 months thats for sure
[21:02:49] design: they got to be bout ready! lol
[21:03:17] AMG: Soon
[21:03:40] TRC: they are trying to figure out now how to launch eurobonds without US support
[21:03:54] AMG sent an audio message: No Way Dude!
[21:04:33] TRC: talking bout maybe launching 1 billion in bonds instead
[21:04:42] TRC: 2 billion
[21:05:47] TRC: congress will not meet again on finances until after new president sits in whitehouse I believe
[21:07:57] TRC: yes news out today looks very promising for most part design
[19:52:30] TRC: exported more gas
[19:52:38] design: ok
[19:52:44] TRC: three shipments in one day
[19:53:15] TRC: loaded three tankers, infrastructure must be up to date
[19:54:03] design: right
[19:54:26] TRC: budget will be sent to parliament by or on the tenth of September
[19:54:40] TRC: earliest ever
[19:54:47] TRC: so says Abadi
[19:57:31] design: cool
[19:57:58] design: IMF must be pushing
[20:02:24] TRC: CBI printed the 100,000 dinar
[20:02:31] TRC sent an audio message: Drumroll
[20:04:22] design sent an audio message: Oh Boy!
[20:07:01] TRC: it is as planned a new banknote every couple months or so,..
[20:07:20] TRC: did not think they would release the 100k
[20:07:40] TRC: but looks like they are going to do it
[20:08:05] TRC: will shrink the amount of banknotes some more
[20:09:10] TRC: they are gearing up to eliminate the zeros
[20:11:44] TRC: the leader of the national coalition in Iraq has called for removal of governor of CBI, a new one approved by parliament
[20:12:09] TRC: end to currency auction and floating the dinar
[20:12:14] TRC sent an audio message: Drumroll
[20:13:00] TRC: Abadi said new candidates would be sent to parliament of all independent bodies
[20:21:39] design sent an audio message: Oh Boy!
[20:21:45] design sent an audio message: Drumroll
[20:29:46] TRC: Abadi is pretty much getting everything he wants
[20:29:55] TRC: 🙂
[20:30:14] design: cool
[20:30:15] TRC: sometimes it is a battle but he wins in the end
[20:30:29] design: he’s a winner
[20:31:00] TRC: as long as he does not get assassinated as Tf would say
[20:31:15] design: lol
[20:31:56] design: they are sure planning for deletion of zeros
[20:32:12] design: quickly
[20:32:42] TRC: next banknote will be the 100 or 200
[20:33:26] design: ok
[20:33:31] TRC: there is no banknote planned higher than the 100,000
[20:38:08] TRC: the idea with the high value banknotes, is to shrink the number of banknotes
[20:38:17] TRC: no other reason
[20:39:29] design: ok
[20:31:22] TRC: not much news today
[20:31:40] TRC: Iraq had to close stock exchange due to heat
[20:31:47] design: ok… was going to ask if i missed anything
[20:32:03] TRC: 2016 is one of the hottest years
[20:32:13] design: yes
[20:34:17] TRC: Central Bank governor had big announcement yesterday
[20:34:43] design: you posted comment
[20:35:05] TRC: oh?
[20:36:44] TRC: anyways, electronic currency will be launched by end of year or early 2017
[20:36:54] TRC: electronic dinar
[20:36:59] TRC sent an audio message: Drumroll
[20:37:46] design: chair of Iraqi business council etc.
[20:38:09] TRC: now you know what this means?
[20:38:31] design: no, do not, that was next question
[20:38:46] TRC: convertible currency
[20:38:54] design sent an audio message: Drumroll
[20:39:43] TRC: Governor said as soon as the infrastructure is completed it will be launched
[20:39:45] design: 15 billion electronic dinars
[20:40:21] TRC: now this goes in hand with the Rafidain and Rasheed banks getting automated
[20:40:32] TRC: all is connected
[20:40:56] TRC: they said 125 days
[20:41:02] TRC: last week
[20:41:08] TRC sent an audio message: Drumroll
[20:41:11] design sent an audio message: Oh Boy!
[20:41:16] design sent an audio message: Drumroll
[20:41:22] TRC: its coming
[20:41:40] design sent an audio message: Drumroll
[20:41:54] TRC: now we must still wait for one thing, now we know approximate dates
[20:42:05] TRC: is what value
[20:42:11] TRC: :whistle:
[20:42:16] TRC: 1-1?
[20:42:46] design: that would be just fine
[20:42:54] design: 😛
[20:43:26] TRC: this is last year we wait like dogs at the door
[20:44:16] design: yep
[20:44:32] TRC: they are exporting gas now every week
[20:44:44] design: right
[20:45:14] design: 125 days, started last week…. AND COUNTING…
[20:45:43] design: exciting times….. finally
[20:47:04] AMG sent an audio message: Drumroll
[20:48:04] TRC: we should see new currency talk too
[20:48:12] TRC: intensify
[20:48:31] AMG: nice TRC
[20:48:36] TRC: like that article that came out a couple weeks ago
[20:48:50] TRC: polymer new currency
[20:50:15] TRC: pretty much impossible to counterfeit
[20:50:39] AMG: ^.^
[20:50:42] AMG sent an audio message: Drumroll
[20:51:05] design sent an audio message: Drumroll
[20:51:36] TRC: highest denomination of 100
[20:52:24] AMG: like $100.00 bill………….Uncle Ben
[20:52:36] AMG sent an audio message: Drumroll
[20:52:47] TRC: you read that article?
[20:53:06] AMG: ahh no…yet
[20:53:44] TRC: said currently there is 1000 fils in one dinar, will be changed to 100 fils
[20:54:21] AMG: ohhhhh…….like a penny
[20:55:05] TRC: but in question on about 1/2 fils
[20:55:12] TRC: not final
[20:55:37] TRC: it depends I think on value
[20:56:08] AMG: come out higher……………..not needed
[20:56:17] TRC: if it was 3 or 4 dollars like before 1/2 and 1/4 fils may be needed etc
[20:56:19] AMG: IMO
[20:56:43] TRC: 1-1 only need 1 fils as lowest
[20:57:10] AMG: GOTCHA…..my math was off
[20:57:22] design: i see…makes sense
[20:59:53] AMG: awesome
[21:00:40] TRC: pretty much the best news in last week we have had yet
[21:01:00] AMG: agrees
[21:01:38] TRC: Rafidain bank restructuring completed, now CBI governor announces launch of electronic dinar
[19:45:13] AMG: bombings in Baghdad’………………….sigh
[19:45:19] AMG: 🙁
[19:46:46] TRC: CBI governor got approval from government in Baghdad to open new CBI building in Erbil
[19:46:56] Tf: what is the significance in opening a branch of the CBI in Erbil?
[19:47:42] TRC: obviously Kurdistan is not leaving the iraqi dinar anytime soon
[19:48:07] Tf: the parliament is extending their sessions for one month?
[19:48:22] Tf: we knew that, didn’t we, TRC?
[19:48:39] Tf: Barzani is a big cry baby….
[19:49:23] Tf: never satisfied…
[19:49:25] TRC: well even if kurds want autonomy in every way, they will still use IQD
[19:49:55] Tf: all I can do is shake my head….
[19:50:26] Tf: I have to give Abadi credit….
[19:50:44] Tf: he has bent over backwards to pacify Barzani…..
[19:51:03] Tf: Abadi inherited Maliki’s mess….
[19:51:12] AMG sent an audio message: Drumroll
[19:51:22] AMG: yes
[19:51:26] Tf: IMO…Barzani is yet to step up to the plate….
[19:51:36] Tf: he is living in the past….
[19:52:16] TRC: Barzani family rule kurdistan
[19:52:18] Tf: he needs to bury the hatchet from Maliki’s watch….and start working with Abadi….
[19:53:26] Tf: anyway….it is good news….
[19:53:32] Tf: thank you, TRC
[19:54:09] TRC: in 13 years Barzani hold on kurds is like iron vise
[19:54:34] Tf: as we have said before….Abadi doesn’t complain….he just keeps plugging along….
[19:54:40] TRC: he said he would step down when kurdistan is independent
[19:54:50] Tf sent an audio message: Laugh
[19:55:32] Tf: that is just what I was talking about…
[19:55:51] Tf: what a loser….
[19:56:05] Tf: never good enough for him….
[19:56:17] TRC: Iraq out produced again this year in wheat n barley, not enough storage facilities once again, they build new ones every year
[19:56:22] Tf: is it true that he is a billionaire?
[19:56:47] Tf: Barzani?
[19:56:49] TRC: not sure
[19:59:40] When is RV?
[19:59:40] Do we have date and rate
[20:08:52] fs: hey AMG, how long do you think it’s going to take Iraq to complete financial reform? 😀
[20:08:55] TRC: parliament will meet until Ramadan
[20:09:10] AMG: forever lol
[20:09:26] fs: 😀
[20:09:27] Tf: I believe we will be pleasantly surprised….
[20:10:12] AMG: another Ramadan
[20:10:17] AMG sent an audio message: Bogus
[20:10:44] Tf: Iraq will hit it out of the ball park…..I believe…
[20:10:50] TRC: it is investing
[20:11:10] fs: Iraq is investing?
[20:11:18] TRC: we are
[20:11:36] fs: LOOONG term investing….
[20:11:58] AMG: lol
[20:12:37] fs: HOw much IQD is printed and out there?
[20:12:53] AMG: :*-/
[20:12:54] TRC: nobody knows
[20:13:16] TRC: they may have estimate on inside iraq
[20:13:22] fs: where does the 43 trillion figure come from?
[20:13:42] TRC: how much was printed
[20:14:03] fs sent an audio message: Oh ohh!
[20:14:09] TRC: and supposedly how much was destroyed
[20:14:52] TRC: but you have hard time calculating actual amounts since so much are outside the country
[20:15:51] TRC: when calculating a value of a currency before it is convertible outside country, they can use various mechanisms
[20:16:51] TRC: gold, cash reserves is part of it
[20:17:38] TRC: CBI governor has repeatedly said cash reserves cover 1 1/2 times cash in circulation
[20:17:54] TRC: sometimes 2 1/2 times
[20:18:25] TRC: now a cb/ central bank does not need to cover more than 75%
[20:19:56] TRC: some of the mechanisms on calculating a value is using resources as well
[20:20:14] TRC: now they can use oil in Iraq
[20:20:24] TRC: estimated value
[20:20:29] TRC: etc.
[20:20:57] TRC: but we do not know exactly the mechanism CBI and IMF will use
[20:21:32] TRC: as an investor we invest, and wait
[20:23:11] TRC: what ever value is set, international banks will honor it after article 8
[20:23:48] TRC: but each bank in each country can choose whether they want to exchange IQD
[20:24:16] TRC: it will depend on eeconomic relations
[20:24:30] TRC: trade deals etc.
[20:28:51] TRC: last number I recall was 7 trillion outside country
[20:29:02] TRC: but that was a few years ago
[20:29:13] TRC: maybe 10 trillion now
[20:29:20] TRC: lol
[20:29:58] TRC: how much USD do you think is outside america?
[20:30:30] TRC: Shabibi once was asked about IQD outside Iraq,
[20:30:46] TRC: he said it is of no concern to me
[20:31:05] TRC: he is only concerned with how much is in Iraq
[20:31:24] TRC sent an audio message: Drumroll
[20:34:44] AMG sent an audio message: Drumroll
[20:34:51] Tf sent an audio message: Drumroll
[20:46:09] TRC: actually we probably talked about this before
[20:46:22] TRC: but just update
[20:46:23] Tf: have you heard anything from Sadr?
[20:46:34] TRC: sadr?
[20:47:49] Tf: Muqtadā al-Ṣadr is an Iraqi Shia cleric, politician and militia leader. He is the leader of a political party, the Sadrist Movement and the leader of Saraya al-Salam, ..
[20:48:01] TRC: yes
[20:48:08] TRC: what about him
[20:48:55] AMG: he’s a d**k….IMO
[20:49:00] Tf: I wondered if you have heard any news about his protesters?
[20:49:24] Tf: are they being prosecuted?
[20:49:31] TRC: no
[20:49:45] Tf: is he holding them off for the time being?
[20:50:09] Tf: giving parliament a month to do what he demands?
[20:50:28] Tf: are they still protesting on Fridays now?
[20:50:40] TRC: nothing he can do, nobody in parliament
[20:51:03] Tf: are they standing down?
[20:51:18] TRC: Sadr city has been bombed repeatedly the last week
[20:52:13] TRC: no he has nothing to do
[20:53:35] TRC: sadrists are in Sadr city
[20:53:54] Tf: ISIS is desperate…
[20:53:57] Tf: IMO
[20:54:45] Tf: I would think the Iraqis would be so sick and tired of their people being killed…bombed….
[20:55:03] TRC: they are
[20:55:06] Tf: maybe I don’t understand their mindset….
[20:56:35] TRC: the biggest suicide bomb was a woman today
[20:56:46] TRC: how do you stop it
[21:00:30] TRC: its funny how it flared up as ISIS is losing massively on the battle field
[21:00:46] TRC: looks like sleeper cells
[19:53:54] TRC: they pulled a 2000 ton sunken vessel out of shat al arab, today
[19:54:09] AMG: oh
[19:54:16] TRC: was there for many years
[19:54:34] AMG: wonder how old it was
[19:55:06] TRC: most likely sunk between Iran/Iraq war and the 2003 war
[19:55:14] TRC: somewheres
[19:55:27] AMG: ohh
[19:55:33] TRC: they have pulled many out of water
[19:56:04] TRC: opening up for another pier
[19:56:12] TRC: had to remove it
[19:56:56] TRC: lots still in water on iranian side
[19:57:44] TRC: Iraq has been pulling them out steady since 2003
[19:58:51] TRC: some take months to get them out
[19:59:01] TRC: very large vessels
[19:59:30] AMG: that takes money too lol
[19:59:59] TRC: after three wars,
[20:01:33] TRC: ISIS is putting up stiff resistance in Hit or Heet
[20:01:59] TRC: western Anbar
[20:02:15] TRC: small town or city
[20:02:35] TRC: they fight or die
[20:03:26] TRC: iraqi forces are 1 km from center
[20:04:28] TRC: Iraq forces in Nineveh continue liberating one town/village after another heading north
[20:08:13] TRC: a christian general was named the top leader of popular mobility forces in iraqi forces
[20:09:42] TRC: very significant, since no christian has had any high office in Iraq since saddam
[20:10:22] TRC: saddam had a few christians in high places
[20:10:41] TRC: most notably foreign minister, deputy prime minister Tariq Aziz
[20:10:57] AMG: ohh
[20:11:15] TRC: you do not remember him
[20:11:30] TRC: he was at UN meetings all the time
[20:11:44] TRC: he just died last year in prison
[20:13:23] TRC: there was over 1 million christians in Iraq under saddam
[20:13:47] TRC: now there is like 50k
[20:14:37] TRC: saddam seemed to like christians or had no indifference
[20:15:34] TRC: Abadi appointed this christian general to make a point no doubt
[20:16:51] AMG: :whistle:
[20:17:18] TRC: Sunni said popular mobility was a shiite force
[20:17:26] TRC: no longer so
[20:18:57] TRC: the largest bank in middle east made another step to privatization
[20:19:18] AMG: 😉
[20:19:34] TRC: CBI has allowed Rafidain bank to exchange currencies, aka sell dollars
[20:19:55] AMG sent an audio message: Oh Boy!
[20:20:02] TRC: it is part of the transition to private bank
[20:20:32] TRC: private banks are only banks which sells currency
[20:21:17] TRC: Rafidain has many branches not just in Iraq but thruout Arab world and beyond
[20:22:22] TRC: it was stated after transition to private bank, deleting the zeros will be plausible, another one of those steps
[20:22:50] AMG: that reminds me, I need to contact Warka to see how my account is. :-c
[20:23:03] TRC: a couple weeks ago was said that the transition was over 90% complete
[20:23:23] AMG: steps forward…….I like
[20:23:45] TRC: Madison was in chat a lil bit ago, said she was contacted by Warka
[20:25:30] AMG: 🙁 Warka has not contacted me (yet)
[20:26:09] AMG: …..I’ll try to reach them tomorrow
[20:26:16] AMG sent an audio message: Drumroll
[20:26:24] TRC: she said that Warka said, in e-mail that debit cards will be mailed out soon to international clients
[20:26:37] AMG sent an audio message: Say What?!
[20:26:42] AMG sent an audio message: No Way Dude!
[20:26:44] TRC: soon not sure how long that will take
[20:26:49] TRC: lol
[20:27:15] AMG: soon…………..hmmm
[20:27:50] TRC: things are moving along, hopefully soon is much sooner than in past
[20:28:54] AMG: ^.^
[20:29:42] TRC: things really do seem very good on the journey to get a convertible dinar
[20:30:05] design: 🙂
[20:31:25] TRC: I would think that a branch of the largest bank in middle east would open at least one branch in USA
[20:31:48] TRC: when it is privatized
[20:33:19] TRC: most notable New York
[20:34:18] TRC: Trade Bank of Iraq has office in New York out of the JP Morgan building
[20:34:39] TRC: but it is most for iraqi government business
[20:35:34] TRC: I am pretty sure Rafidain will open in USA, at some point
[20:36:10] TRC: 25 biilion + in assets
[20:42:13] TRC: Saleh was speaking
[20:43:10] TRC: it really does look like he should be number one or two in line if a new candidates are mentioned for central bank governor
[20:44:25] TRC: Saleh seems to know what he is talking about as opposed to many other in media
[20:44:26] AMG: DC is also a good place to set up too
[20:45:06] AMG: yes
[20:45:14] AMG: he does
[20:45:20] TRC: if Abadi truly wants a candidate outside political agendas
[20:45:57] TRC: Saleh is not affiliated with any party just the business of economics
[20:46:44] AMG: that’s a plus
[20:47:25] TRC: Abadi wants ministers in cabinet with knowledge of their posting
[20:47:36] TRC: not just a good party member
[20:47:51] AMG: doing the right thing …………………he is
[20:48:15] AMG: US could learn something from him
[20:52:12] TRC: CBI is putting treasury bonds on the iraqi stock exchange
[20:55:39] TRC: will be available to buy or sell to the public thru ISX
[20:56:10] TRC: but they are working on mechanism how to do so
[20:56:30] TRC: next is forex?