DayTrader, a News Researcher for DinarUpdates.com, recently had some interesting commentary.
Here are his thoughts:
Article 140 is much more complex than many realize. If you read Article 140 in the Iraq constitution, it refers to Article 58 of the Law of Administration for the State of Iraq for the Transitional Period that outlines all the steps that must be completed. This was a document constructed by Paul Bremmer to be used until a permanent constitution could be developed and ratified by Iraq. Article 58 states:
Article 58.
(A) The Iraqi Transitional Government, and especially the Iraqi Property Claims Commission and other relevant bodies, shall act expeditiously to take measures to remedy the injustice caused by the previous regime’s practices in altering the demographic character of certain regions, including Kirkuk, by deporting and expelling individuals from their places of residence, forcing migration in and out of the region, settling individuals alien to the region, depriving the inhabitants of work, and correcting nationality. To remedy this injustice, the Iraqi Transitional Government shall take the following steps:
(1) With regard to residents who were deported, expelled, or who emigrated; it shall, in accordance with the statute of the Iraqi Property Claims Commission and other measures within the law, within a reasonable period of time, restore the residents to their homes and property, or, where this is unfeasible, shall provide just compensation.
(2) With regard to the individuals newly introduced to specific regions and territories, it shall act in accordance with Article 10 of the Iraqi Property Claims Commission statute to ensure that such individuals may be resettled, may receive compensation from the state, may receive new land from the state near their residence in the governorate from which they came, or may receive compensation for the cost of moving to such areas.
(3) With regard to persons deprived of employment or other means of support in order to force migration out of their regions and territories, it shall promote new employment opportunities in the regions and territories.
(4) With regard to nationality correction, it shall repeal all relevant decrees and shall permit affected persons the right to determine their own national identity and ethnic affiliation free from coercion and duress.
(B) The previous regime also manipulated and changed administrative boundaries for political ends. The Presidency Council of the Iraqi Transitional Government shall make recommendations to the National Assembly on remedying these unjust changes in the permanent constitution. In the event the Presidency Council is unable to agree unanimously on a set of recommendations, it shall unanimously appoint a neutral arbitrator to examine the issue and make recommendations. In the event the Presidency Council is unable to agree on an arbitrator, it shall request the Secretary General of the United Nations to appoint a distinguished international person to be the arbitrator.
(C) The permanent resolution of disputed territories, including Kirkuk, shall be deferred until after these measures are completed, a fair and transparent census has been conducted and the permanent constitution has been ratified. This resolution shall be consistent with the principle of justice, taking into account the will of the people of those territories.
The challenge has always been how to implement the required changes. Those steps coupled with the fact that some of the people that Saddam Hussein forced out and those Sunnis that he brought in are no longer living. The resolution will have to involve their children, plus the process will also be challenged in identifying and finding all these families. This is not a quick fix. IMO that is why Abadi gave the responsibility to create an implementation plan to Barzani and the governor of the Kirkuk province. All of that said, I don’t believe that the implementation of Article 140 is tied to the revaluation of Iraq’s currency. I haven’t found any reference to Article 140 in any of the UN resolutions or SBA documents between the IMF, CBI and GOI.
Read more: http://www.dinarupdates.com/showthread.php?48133-Commentary-from-DayTrader
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Opportunities for advancement of the economy in Iraq after the defeat of ISIS
ISIS has organized a lot of land that was in his possession, but he continues to commit genocide, how could be terminated? And proceed in the opposite direction?
Focusing on the United States and the United Nations plans for the reconstruction of Iraq after the defeat of ISIS primarily on southern and Western areas of the country, and neglecting minorities in northern Iraq, particularly Christians, who still suffer from genocide and not displayed is flag continued discrimination within their countries.
These disadvantaged minorities, including Christians, Turkmens, walaizidion live in northern Iraq for thousands of years. In order to reverse genocide and make this a prosperous areas such as former and earn daily strength again, we need to create a safe area such as those in Kurdistan (1991) and Bosnia (1993).
Compounding the refugee crisis to bona fide efforts by Governments and charities focused exclusively on emergency relief, but quickly turn to disaster when it happens to adults who are able bodied to work and eager to restore the dignity of the spiral plunge into a spiral of depression and despair for their inability to provide a living for their families. For this reason, the United Nations says that habitual residence in a refugee camp continue for 17 years. This is a terrible loss of human life.
However, the establishment of a secure area that can provide security and enhances productivity as happened following the campaigns of genocide in Kurdistan.
The consensus among security experts lies in one thing: they should assemble a coalition of regional forces with training and international assistance to provide security.
But some important thing ignores consensus: Homeland Security-Officer in the corner, and the soldier at the checkpoint-must be indigenous. And I mean protracted discrimination against minorities that Christians in Alqosh or alaizidien in Sinjar would see a member of their group at checkpoints regulating the entry and exit of their towns. Alice is likely to be a guarantee of the future, if people saw that persons of whom can participate in State administrative and security institutions?
That is why we need to have sufficient capacity and emphasizing police training abroad, such as Italy and Denmark, to work on the training of local police forces and act as observers, then the reconstruction process can begin in earnest.
And when that happens, Western businessmen are the best hope to help returnees to make reconstruction a success. Because without bringing life to the economy was prosperous and suffers from ruin now, these communities can never flourish again. so Governments should do all they can to facilitate private sector transactions that will build the economy from the ground up.
Rather than engage the Governments macroeconomic policies that define the general framework of the economy, Governments should identify the origins of microeconomics, including human capacity and capital goods, which can be used by investors and entrepreneurs in productive economy.
For example, there is no government entity is surveying the displaced families to see what I have their functional skills.
And spend a million dinars to the surveys ask people displaced from dimogharavithm, about their past, but there is no information on their skills, which can help an investor in its future work, the foreign aid compound – composed of Governments and NGOs-is suffering from a kind of visualization that focuses only on spare people suffering, not on what their suffering.
And that’s why it’s not useful in business but if they understood the real needs of the oppressed, if you really listen to them, they realize that getting a job is part of restoring their dignity.
If the Government has to count and check the micro-economic assets, the number of teachers and engineers in camps to prepare olives and apples that have not invested because of the genocide, investors can intervene to bridge the gaps, using those assets to create real value and, therefore, make these oppressed communities within sustainable development process again.
This is why the goal is to create communication between businessmen in North America and Europe with business people in northern Iraq.
And use their skills to help Iraqis create supermarkets to sell their products, and the transfer of technology to improve their competitiveness, and training men and guide them and provide them with the experience of foreign businessmen when all that foreign businessmen would realize that their bet was spot on and invest their money making projects grow and provide jobs for their neighbors. There is nothing you can do will help them at the moment.
“Washington Times”
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Parliament held a meeting with the heads of parliamentary committees and blocks
Parliament held a meeting Wednesday with the heads of the blocks and parliamentary committees.
An informed source said, to/news/balances, “the House of representatives were held today, a meeting with the heads of political blocs and the parliamentary committees.
The source added that “the meeting comes to discuss outstanding laws.”
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Kuwait stresses the importance of developing trade with Iraq to enhance the common economy
The Minister of State for Youth Affairs Khalid Al-Roudhan on Wednesday stressed the need to develop bilateral trade with Iraq to boost the economies of both countries, especially in view of the low oil prices.
Al-Roudhan said in a press statement during a meeting with the Minister of Planning and Trade Minister Salman Al-Jumaili that “the development of intra-Arab trade strengthens Arab economic integration, making it an economic force that keeps pace with global economic blocs.”
“The meeting discussed several key issues related to strengthening the trade side between the two countries as well as discussing the best possible solutions to further develop bilateral economic relations,” he said.
“The meeting touched on the importance of finding effective steps in the coming days to promote intra-Arab trade, especially as Kuwait’s economic plan aims to transform the country into a financial and commercial center,” he said.
He noted “the importance of identifying investment opportunities in both countries.”
Read More: http://www.dinarupdates.com/showthread.php?48143-Kuwait-stresses-the-importance-of-developing-trade-with-Iraq-to-enhance-the-common-ec
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World Trade Organization expects global trade to grow by 2.4% in 2017
Trend Press / Continue The World Trade Organization (WTO) said on Wednesday that global trade is growing at 2.4 percent this year, but there is “deep uncertainty” over economic and political developments, especially in the United States.
“This year’s growth range was revised to between 1.8 and 3.6 percent from 1.8 percent and 3.1 percent last September,” the organization said in a statement. “Concerns over the bottleneck of trade activities are unclear because of government policy uncertainty.”
“We should look at trade as part of the solution to economic difficulties, not as part of the problem,” said Roberto Azivido, FAO Director-General.
“There is generally cautious optimism, but trade growth remains fragile, there is a risk of a significant decline and a great deal of political uncertainty,” he told a press conference, calling on the world to “continue to resist the creation of new barriers to trade.”
The WTO has revised its initial estimates repeatedly over the past five years on expectations of an economic recovery that has proved to be optimistic.
World trade grew at an “average slow” rate of 1.3 percent in 2016, the lowest pace since the financial crisis, unable even to match the September revised WTO forecast of 1.7 percent.
In 2018, global trade is expected to grow between 2.1 and 4 percent, according to the latest World Trade Organization analysis.
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Enjoy yourself today, you will never be this young again. – Will Spencer
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BGG (Dinar Guru) – – The BIGGEST article of the day… “Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars” (the title is a little weak for the content of the article)…the title should have read RV- RV- RV!! Quote: “Most of the Iraqi Central Bank steps are subject to political and legal environment of the country, especially in regard to the deletion of zeros…” …this is what you are after – EXACTLY. PERIOD. it’s isn’t a removing of the 000 from the notes…it isn’t a changing of the DECIMAL POINT…it isn’t a change in the nominal value…IT’S A CHANGING OF THE REAL VALUE and A BRINGING IN OF THE BIG NOTES… “…deleting the big 000 notes from the market place” = RV. [post 1 of 2….stay tuned]
Read More: http://www.dinarupdates.com/observer/
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BGG (Dinar Guru) – …they have no intent on bringing out any bigger note classes – THEY DON’T NEED IT… value is going the other way…nowhere in there does it mention Article 140 – HCL – or anything else… nor does it bother to mention any laws needing passed… just a few changes. (aka – AMENDMENTS) [Also key phrase is “where it should be FOLLOWED by” Meaning the laws should be changed AFTER.] BINGO! money first – laws AFTER! why? They need to get this done now! This is about as much heads up as they are willing to give anyone…if they change the laws ahead of time – EVERYONE WILL KNOW. BIGGEST PIECE YET…here it comes… “On the other hand, the technical preparations are underway by us.” Meaning – on the other side of everything he’s said so far… they are and have been already making technical preparations (by the CBI). Pretty plain – if you ask me…pretty huge news... [post 2 of 2]
Read More: http://www.dinarupdates.com/observer/
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Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the the Iraqi economy, which must have to deal with dilemmas , whether with regard to the citizen or the work of the central bank itself.
Questions concerning important files posed (range) in this meeting , the director of the release and the Treasury in the Central Bank Aa’bas behind, and with being answered by briefly he pointed out the most important points that showed that the currency is good for circulation deposited Central has exceeded one billion and a quarter of a million dinars an amount that is not a little if they were compensated by the stored banknotes at the bank , as some believe, at the time between the printed currency size has exceeded the “11 billion and 600 million dinars, he urged citizens on the need not to keep large amounts in homes or buried in the ground , the fact that the process of replacing in the event expose Dt to burn or damage costs the central administrative and financial burdens, stressing that the counterfeit currency rate is still within the internationally accepted borders, with the central quest to carry out an information campaign to educate the public on how to distinguish between the original currency and Almzorh.oicol behind on a question about the possibility of having higher versions of a class (50000 ) dinars?
– No at present intention to issue a higher class category (50000) dinars.
* What about the subject of the deletion of zeros and the reason for the delay?
– the decision on the deletion of zeros cannot be taken in isolation from the political and legal environment in the country under conditions the security situation as a result of terrorist acts and exit from the provinces outside the control of the state for the years 2014, 2015, 2016 which prevents certainly to wait in the implementation of this project, in addition to that this must be done in coordination with all state departments and the private sector, where it should be followed by changing the paragraphs contained in the various laws, which include a reference to fines or lump – sum collection of fees, must also change the financial and statistical records in order to conform with the project process the deletion of zeros. On the other hand, the technical preparations are underway by us.
* How is the cost of the annual replacement and replacement of damaged currency?
– First , there is no substitution instead of a damaged annually, as the bank instead seeks to issue new papers for security specifications developed, so the cost is reduced in this way it is the cost of issuing new banknotes specifications better used at the same time damaged to the replacement of currency from the previous editions .
We seek to carry out an information campaign to distinguish between original and counterfeit currency
* How discovered the counterfeit currency of the size?
– The Central Bank of Iraq resorted to the use of machines to sophisticated counting and sorting which can detect counterfeit currency, in addition to banks guide using modern techniques in the currency examination, but the problem is not doing shopkeepers enough efforts to use the machines to check the currency, as the bank seeks to campaign media to sensitize the public on how to distinguish between the original currency and counterfeit currency by issuing a booklet definitions and (posters) for this purpose and will be distributed to banks in major shopping malls, and in all cases, the counterfeit currency rate is still within the internationally accepted borders , where even T ratio (0.000025) (Twenty – five million paper sheet).
* What currency damaged by fire or poor storage of citizens compensation mechanisms?
– While we hope the citizens do not keep large amounts in homes or buried in the ground, and to do instead in the deposit with the banks, as the replacement of the burnt currency process or damaged it costs the central bank financial burdens and administrative Colva unwarranted, however the bank is to receive citizens whose savings in Iraqi currency to fire accidents provided that they are documented by the civil Defense Department and be sourced from the project, either in terms of currency (buried) are sufficiency statement on the sources of these funds, and in this regard we call on citizens not to accept the mediation of any hand to Astb The Iraqi currency and that this bank does not receive any commission for its replacement.
We applied security methods with modern technology advanced counting and sorting currency
* What future plans for the central bank currency and print?
– Iraqi Central Bank seeks to keep pace with the evolution of printing currency and modern technologies both in currency printing or counting devices and sorting the currency where they are constantly adding new security features in addition to the acquisition of advanced machines counting and sorting currency, was dispensed with final counting and manual screening process.
* How much is the size of the torn currency and how much of the size of the printed currency?
– The number of banknotes unfit for circulation deposited with this bank (1,277,049,543) cash paper of various categories, where they are compensated from the stored banknotes have this bank, as the number of printed banknotes (11,615,265,154) cash paper of various categories.
Iraqi Dinar/Dollar auction 04-12-17 (most recent listing)
Currency Auctions Announcement No. 3421
This daily currency auction was held in the Central Bank of Iraq on the 04-11-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 37 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | —– |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 159,643,728 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,643,728 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1256.934 | 1256.306 |
| British pound | GBP | 1471.238 | 1470.503 |
| Canadian dollar | CAD | 888.689 | 888.244 |
| Swiss franc | CHF | 1175.770 | 1175.182 |
| Swedish krona | SEK | 130.243 | 130.178 |
| Norwegian krone | NOK | 137.755 | 137.686 |
| Danish krone | DKK | 169.005 | 168.921 |
| Japanese yen | JPY | 10.686 | 10.681 |
| Special Drawing Rights |
SDR | 1603.870 | 1603.068 |