Hay1031: Hello Backdoc, any good words from your studies? Sure miss seeing you on the forum.
BACKDOC: GOOD AFTERNOON. MY STUDIES ARE 6 MONTHS TO A YEAR AHEAD NOW. OBVIOUSLY WELL BEYOND THE MR. MY PURPOSE FOR THE FAMILY HERE IS MOSTLY A SPIRITUAL SUPPORT NOW.
AS I'VE RECENTLY STATED THE CASH FOOTPRINT IS EVAPORATING BEFORE YOUR EYES! THE IRAQI GOVERNMENT ALREADY TOLD YOU THAT ALL PAYMENTS FROM THE GOVERNMENT WOULD NOW BE IN DIGITAL FORMAT NOT CASH. THE BANKS ARE DOING THE SAME.
I ASSURE YOU ALL LARGER BUSINESSES WILL BE INSTRUCTED TO DO THE SAME. THEREFORE THE FACE PAPER IS BEING SUCKED UP BEFORE THEIR EYES.
RECENTLY SOMEONE ASKED A QUESTION ABOUT THE RATE CONVERSIONS AND THAT THEY DIDNT UNDERSTAND IT.
THE ANSWER WAS SIMPLE, IT IS SIMPLY A VALUE CHANGE THAT WILL OCCUR ON THE DIGITAL CARDS. REMEMBER THERE ARE NO MORE SALARIES OR PAYMENTS MADE IN PAPER. THE IMF ARTICLE YOU JUST READ ALSO SUPPORTS THE PLAN. SLAP! HEE HEE
THE DIGITAL DINAR HAS PLAYED A MAJOR ROLE IN REDUCING THE NOTE COUNT IN THESE LAST FEW DAYS. THIS SHOULD GIVE US GREAT CONFIDENCE OF WHAT FRANK AND DELTA ARE NOW SHARING AS THE VALUE BEGINS TO ADJUST! WITHIN 90 DAYS WE SHOULD SEE VALUE REACH MATURITY.
IT MIGHT BE QUITE HELPFUL TO REVIEW THINK LIKE A COUNTRY THINK LIKE A BANK AND THINK LIKE A SURVIVOR.
8@8, DOC IMO
Aggiedad77: Allow me to kick back on this bluish recliner, the leg part only works part of the time, but it's working fine this morning....allow me to share what I'm seeing in this article that doesn't seem to be entirely spoken.....(see article below)
First off, we all know the misery and poverty that Iraq has lived in while Maliki was the head thug, but things are looking up for them and again we know that, Abadi is leading the change, and he is being helped and pushed by a mighty big brother in President Trump, we got your back make the necessary changes...make this new economic change a reality.....
We know that DAASH has delayed things, that our people have gone further below the poverty line....but we are a tenacious people and we can overcome because that is who we Iraqi's really are....overcomers....there is no doubt that since 2003 until around 2015 Iraq made mucho profits from their sale of oil, just as it is well known that most all of that financial gain was siphoned off as quick as it was made into the hands of the crooked and corrupt, with Maliki again leading that charge....
But Abadi is stirring the pot towards equality and reconciliation and he is awakening the sleeping giant....that is called the private sector.....he's encouraged a Long Line of willing suitors who each have a number for their dance with this fair haired maiden of the prom....and they are starting to make their best moves as though they were on DWTS it would seem....the banking sector has swollen during these times to the benefit again of those corrupt, but those times are a changing thanks again in an overall consensus of big brother....US/IMF/WB/BIS/UST to just name a few.....
Can you imagine Iraq as a tourist mecca....well it's coming....Security and Stability is helping that.....and whatever modest advances the Iraqi currency has made since 2003 will soon be overshadowed as it takes its rightful place among currencies of the world....
And lastly that pesky thing called inflation....if you are a student you saw earlier this morning that Egypt has to fight inflation of 30% or higher in their cities.....while Iraq has managed even with the nasty heads of the snake , corruption, terrorism spitting upon the country, their inflation has spiralled downward to less than 5% and likely around 2% or less....
What an amazing effort for an impoverished country to pull off....it sets an underlying tone of just how truly rich Iraq is and the world markets and investors all are well aware of the this diamond in the rough......behold the most beautiful girl of the prom as she coming into view....cough...cough...snort....IMO....cough. Aloha Randy
Samson: Experts live the Iraqi economy 14 years after the fall of Saddam
9th April, 2017
The Vice President of the Baghdad Economic Forum on behalf of Jamil that the follower of the reality of economic life over the past 14 years to find that the level of living is moving towards a positive and a large segment of citizens, especially that there are 4 million government employees receive monthly salaries have improved the reality of economic family.
He added that the recovery in the economy is not without its observations as it requires plans targeting the unemployed and the families that live below the poverty line, which attributed these segments increased by the war with "Daesh" terrorist.
He noted that the period that followed the 2003 witnessed expand Iraq's financial revenues as a result of crude oil sale, but the security conditions the country prevented the completion of many of the plans, adding that the country needs infrastructure projects and the development of industrial and agricultural reality and make more contribution to the gross domestic product (GDP).
And the Executive Director of the Association of Iraqi private banks Tariq Ali said Iraq has witnessed during the period that followed the 2003 expansion in the banking sector and increased the number of private banks in Iraq and the multiplicity of products that offer a slice of beneficiaries.
He said Iraq to build bridges of cooperation with the global financial sector and there has become relations and cooperation with the world's largest banks, which have a direct impact on the reality of this sector, which is the cornerstone of the development process sought by Iraq for the next phase.
The movement of the morning newspaper, the semi-official concerned industrial affairs in Abdul Hassan Shammari said that the industrial sector in Iraq often dropped because of the war with "Daesh" terrorist where there are large numbers of factories in the areas controlled by and suffered mass destruction.
The specialist affairs in tourism Hassan Ali Abdul Karim has pointed out that during the period in question had an opening to some countries in the world where he became an Iraqi citizen, was able to travel for many purposes, and that the signs of real openness Nahrha when we find tourists, foreigners mean the Iraqi Marshlands areas and in this aspect can to create real financial resources covering a large proportion of the need for the Iraqi market.
It says economic researcher Lubna Al Shammari said the years since 2003 have seen economic transitions worthy of reflection, especially that Iraq has achieved what it was unable to achieve in the previous three decades.
For his part, said economist academic d. Majid Baidhani The dinar's exchange rate against the dollar rose after 2003, explaining that he was a very modest levels before the change.
The absorption of inflation, according to economic researcher Firas Amer, Iraq frequently dropped from two places to rank one decimal place, and this in itself is calculated for the completion of the financial and monetary country reflects the extent of the two policies and their success in absorbing inflation and control.
Frank26 Excerpt :
Frank26 IMO, they are preparing to show you the true rate of the currency because the program rate is not the true rate.
The IMF has told you the CBI is obligated to do their physical and financial reforms and they were told to lift the restrictions of their currency and to give their currency it's true value.
I do not believe they are disobeying in the month of April.
Consider the financial conference in Lebenon...on the agenda of the CB/IMF meetings is to eliminate their exchange rate restrictions. They just printed 11 billion 600 million dinars. Why such a small amount and why tell us now?
IMO, it's not the paper note count that is important, it is the value of the lower denoms and they are part of the sequence that's coming up next.
All of this hinting is because they are going to release a new rate for their currency.
Based on just this, imagine what the rate will be when it's international outside of Iraq. 1-1? No. Higher? Yes, IMO.
Samson: Eurozone Future in Serious Doubt
Monday, April 10, 2017
France’s biggest (BNP Paribas) and third biggest (Credit Agricole SA) banks–which make up two of Europe’s ‘big six’–have been found to have vast ‘capital gaps’
Aseries of political elections will be held in 2017, with many to be fought on lines of ‘for’ and ‘against’ membership of the euro. For the first time since its inception in 1957, the European Union cannot afford to take its future for granted, moneyweek.com reported.
France – 23 April: The far-right Front National Party is the second favorite to win the presidential election, and is avowedly anti-EU. Even if they don’t win, they are still pulling France in an increasingly anti-EU direction.
Germany – by October 2017: Angela Merkel’s CDU party has been losing seats to the anti-EU AFD. A Merkel defeat would be the biggest possible blow to the EU’s future. Germany is the continent’s biggest economy.
Italy – by April 2018: General election after pro-EU Prime Minister Matteo Renzi was comprehensively defeated on 4th December 2016 in a constitutional referendum. Italy’s three opposition parties are in favor of leaving the euro, which they believe is preventing the country’s economy from growing.
The countries listed above are the three biggest economies in the eurozone. If one of them voted to leave the euro or the EU, it would almost certainly precipitate the end of the European Union.
But the potential dangers do not end with them. Other eurozone members holding elections soon include:
Netherlands – March 2018: Geert Wilders has vowed to withdraw the Netherlands from the EU should his surging far-right Party for Freedom win.
Hungary – by Spring 2018: The popular current Prime Minister Viktor Orban has incurred the wrath of the EU by erecting wire borders around the country—in defiance of the EU, which he openly disparages.
If just one of these countries left the EU the financial markets would become volatile and anxious yet again. Right now it looks increasingly probable that the European Union will come under genuine threat.
What is beyond doubt is that the political and economic trends are not working in the eurozone’s favor. It has never been in greater danger than it is now. In particular, it is suffering from a profound and potentially epic banking crisis.
The biggest threat to Europe is in Germany, right in the heart of it all. In fact Germany’s largest lender–Deutsche Bank is facing a $4.6 billion capital shortfall.
Then there’s France. France’s biggest (BNP Paribas) and third biggest (Credit Agricole SA) banks–which make up two of Europe’s ‘big six’–have been found to have vast ‘capital gaps’–money set aside to protect the banks in the event of a financial crisis…
And worst of all, Italy–where one of its largest banks has already been nationalized. And more require a government bailout.
A eurozone collapse will have a damaging effect on UK markets and public's core investments.
In December 2015, the Bank of England ran its annual stress test on British banks. This tests how a bank could survive in a crisis. It’s intended to reassure British savers that their money is safe… They all passed. Governor of the Bank of England Mark Carney went so far as to declare an end to the financial sector’s “post crisis period”.
As with the rest of Europe, it’s highly likely that Britain’s banks are not as safe as one is being led to believe.
In January last year, Italy’s Monte dei Paschi–the oldest bank in the world–admitted that its customers had started withdrawing their savings. The bank saw its share price drop 60% in the first three weeks of 2016.
In Germany, people are so dismayed by low interest rates that they’re taking their money out of banks and keeping it in safes at home. Sales at one safe manufacturer were up 25% in the first half of 2016 compared with 2015.
All it takes is the spark of fear… for one major bank to face a major crisis. If everyone started withdrawing their money… the banks could face an overnight bank run. And make no mistake, fuelled by fear, bank runs accelerate quickly.
The same was seen in Greece and Cyprus just a few years ago.
Permissions in this forum:You cannot reply to topics in this forum