Millionday & Dinar Updates Roundtable  Part 2 | Iraqi Dinar Updates
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Millionday & Dinar Updates Roundtable  Part 2

        [millionday] you know i will bring it and we will be here all day lol  brb let me see what else i have  here is tomorrow  –  no budget vote as we knew

        [millionday] legislative term with empty agenda of the meeting of reading and a vote on the General Budget Law. According to a statement to the House of Representatives received the Euphrates News Agency {} copy of it today that “the agenda of the session of parliament for tomorrow includes a vote on the draft labor law submitted by the committees of Labour and Social Affairs and the institutions of civil society and the first reading of the proposed law to amend the Criminal Procedure Code No. 23 of 1971 submitted by the Legal Committee. “

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         [millionday] and added: “As is scheduled to board the first reading of a bill to preserve the documents submitted by the Legal Committee and the Committee on Culture and Information and the second reading of the draft law regulating the work of counselors provided by the Legal Committee and the proposed law on honor scientists, writers, artists and researchers Award State Incentive submitted by the Committees for Culture, Media and Higher Education and Scientific Research and Awqaf and Religious Affairs. “

        [millionday] last part

        [millionday] It is expected, according to the agenda, that is the second reading of the draft law of the First Amendment to the law on compensation for those affected by the military operations and the mistakes of military and terrorist operations No. 20 for the year 2009 submitted by the Commission on Security Defence and Finance Committee and the Committee of the martyrs and victims and political prisoners and legal committee and a bill establishing health institutions of civil federal submitted by the Health and Environment Committee and the Legal Committee and the bill passports submitted by the Legal Committee and the Committee on Defense and Security and the draft law amending the Law on Fees judicial No. 114 for the year 1981.

        [MsDiva] millionday when you say no budget vote as we knew are you talkin Wed

        [millionday] wed should bring the budget by what they have in ink

        [millionday] we had last night news about Canada

        [millionday] Basra province today held its first conference for Canadian companies in the Basra

        International Hotel in the presence of representatives from the local government and the Canadian Minister of State for Foreign Affairs Lin Wheeling He said the governor of Basra Majed Nasraoui in a speech at the conference that “the local government has a desire to deal with all investment companies, without exception,

provided that there is efficiency and we are serious about overcoming all the difficulties that stand Hail generally any investor within Iraq and Basra in particular.”

        [millionday] and added that “Basra Land fertile for investment being blessed with safe, stable and there are several large projects that are waiting the arrival of investors.

 ” For her part, Minister of State Foreign Affairs Canada Lin Wheeling participate in the conference, “The relations between Canada and Iraq distinctive through trade exchange between the two countries, which amounted to 4.2 billion dollars during the year 2012, making Iraq in the first place for the exchange of trade in the Middle East,

 Canada with a ratio of 36 percent compared to 2011. ” and showed that “the Canadian government has the willingness to invest in energy, infrastructure and other sectors.

        [slh5282] Millionday, so if the budget is approved on Wed, everybody is happy, the new reality rate is in the budget, would they not release the rate and move forward?

        [slh5282] and stop loosing money day after day

        [millionday] we would assume with the entry of the market to the globe and all else we have seen but we have to wait and see — i can tell you this — i would

        [slh5282] millionday, you would release the rate?

        [millionday] i could say that international trade only makes sense to set the rate

        [millionday] slh5282 yes i would  brb with more

        [slh5282] millionday, you know this rate has to be good or all of these companies and investors would not be pouring money and investments into Iraq

        [millionday] slh5282 i agree they are coming for more money than what they show now — smile

        [Domino] millionday I’ve seen some recent speculation that international trading may in fact begin at the current program rate and allow the market (as in a floating rate) to determine its value – Any opinion or ink on that?

        [millionday] Minister of Finance Agency purity of net debt with the Director of the Office of the International Finance Corporation (IFC), Ziad Badr, ways to encourage companies and investors to invest in Iraq. According to a statement of the ministry received the Agency (news) copy of it:

‘The two sides discussed during the meeting, the Foundation’s activities that contribute to to encourage investors up to 600 million dollars in contributions in the investment list in Iraq for the fields of industry, transport, communications and tourism banks.

called Net Foundation to increase their investments in Iraq, in addition to the discussion of the prospects for future cooperation. Elsewhere across the Badr readiness institution to increase its investments in Iraq amounting to one billion dollars

        [rrajewski] The current program rate is artificial and in no way reflected the value of their assets.

        [Domino] jarhead scuffy Thanks – If it could work it may in fact produce a higher rate in a very short time, then level off.

        [millionday] Domino i have an opinion — there is no way in hockey sticks that this will float from where it is — they would wipe out and a more valuable currency would gain — not ever the goal

        [millionday] smile

        [Domino] millionday Respectfully, how would they wipe out?

        [millionday] the rate now is the program rate and completely imposed — the people that think it will or are stating that have never understood macro economics — goodness they would be promoting another currency and economy instead of their own

        [millionday] people will only use what has most value — and if they leave the dinar at the rate it is — they will not use it — it holds no value  but it will smile  – they have to promote their own or they lose

        [slh5282] Domino, think about the economics we had in college, supply and demand, cash and cash equivalents

        [Domino] I guess I just don’t understand how it would work – If the currency is inherently valuable wouldn’t trading in a free market drive up the price very quickly?

        [millionday] a free market economy (global) means that it runs on supply and demand — they would not have enough supply or demand to do trade in dinar

        [millionday] not daily like some would think — the prices would be the issue and oh honey the recession it would bring

        [millionday] their economy would be inflated and they would ruin their wealth that they have to gain

        [rrajewski] And they would be the laughing stock of their region

        [minkfarm] Because the dinar would not have enough purchasing power?

        [millionday] does that make sense hun?

        [Domino] But if the country is more valuable than the current imposed program rate wouldn’t that be reflected in trading real fast?

        [millionday] and actually their is not enough currency

        [millionday] yes it would be — as when they set the reality rate

        [tourman] plus they are deleting the zeros

        [dovi] again, as a wise man once told me…if a hammer costs $1 and you have to pay 1166 of your dinars for it, wouldn’t it be better to get 3 hammers for 1 dinar

        [millionday] see they are trading in oil gold metals etc — their currency has to have a reality rate to make it fair — think of bartering — they would be offering shoestrings and all other countries would be offering shoes

        [hawk] millionday, If the rate came out at $1.17 and floated from there would that be safe, economically speaking. IYO

        [millionday] and they are redenominating the country in weeks

        [Domino] That makes sense but they aren’t even in the game right now. When they are seems it would go up fast.

        [millionday] a result will be the set rates as well right

        [dwsdad] wish that was days millionday

        [millionday] they are not in the game yet but close

        [millionday] hawk it would be fine with me but — not their reality it is a little higher in my opinion

        [hawk] TYVM

        [millionday] yw all the time hun

        [Domino] millionday Ok, I see, thanks

        [millionday] it will gain when they set the rate — if they set it and let it float — it will raise quick

        [workhard] millionday Tyvm Good explanation makes sense.

        [millionday] but it can not bring in trade at the rate it is and then float — wont happen

        [millionday] good –thank you

        [Domino] At some point investors won’t want it if it not a good investment, right?

        [Domino] That is if it isn’t going to increase in value any further.

        [rrajewski] IMO they have to start where they left off….they have more resources than before and a much more global friendly government

        [snowflake59] They are not planning to float right away any way, right?

        [millionday] the global condition shows us one thing — all countries have only so much to invest due to the recession etc — if they are choosing iraq — we know something is going to happen due to the choice in itself

        [millionday] make sense ?

        [dalawr30] SteveI thinks the budget has to be passed first, do you agree with that.

        [millionday] i think that they have stated that it has to be in ink — i think that many countries have moved forward without it complete — but we shall see at the speed they are going — it wont be an issue at this point imo

        [Domino] millionday If there are Trillions of $ looking to be invested in emerging markets, as far as currency, once at current value, the only investment return is over time as the country grows.

        [millionday] that would be true if it began at the reality rate

        [millionday] no country can just start doing global business at whatever rate they want — there is a protocol —- they have to have a reality rate

        [Domino] Yes, so I’d rather invest my $ if I KNEW it would go up in value instead of hoped it would.

        [Domino] millionday So the rate they come out at will need to be approved by IMF

        [millionday] now at the point iraq is at right now — their reality is not as high as it could be with so much development and as far as investing in the notion that after they go global and start to do global trade — market etc — it is a good choice — but the point is that right now their reality rate is not what it is set at –

        [millionday] the pairing is not internationally compliant in price — the price of the dinar is wrong

        [slh5282] If you invest in the country now, then you ride the wave up it is going to be huge

        [millionday] they will calculate the rate by the gdp — resources — revenues — etc ect

        [Domino] millionday Thank you for your generosity in discussing this. I’m sure many benefitted from it.

        [millionday] slh5282 thats why we chose the currency — the first to go

        [millionday] yw all the time hun

        [slh5282] the cost of the stocks on the ISX are like buying penny stocks.

        [millionday] slh5282 not even that — they also have a responsibility to not turn the market upside down  –   oil -gold- metals are globally priced and controlled

        [millionday] they have to have a reality rate in order to use their own currency and they have made it very clear that they are — so that is why we are very happy where we sit  smile

        [rrajewski] Eventually they have to do what they have been saying they will.

        [saturday night] millionday Will the Kurds show up and vote on the budget.

        [sheila3] so with the budget meeting on Wednesday, its still going to be weeks, sorry if i missed you answering this already

        [millionday] they say they are

        [sheila3] before they rv

        [millionday] no one knows when they are setting the rate but it looks to me that they are preparing

        [millionday] we are close with the global market announcement

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