Leaderboard

Good Morning Dinar Vets, here's an opinion & comment that might be of interest to you. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON *** MilitiaMan *** Article: "Parliamentary Finance confirms the government's printing of new currencies without financial cover and describes the act as "dangerous" ...we see they speak if printing currency with out "cover". Well "cover" to me may mean a new rate is needed now, as the CBI has not exposed it yet. They printed new notes, not larger triple zero notes...

A very well informed and educated statement. You might wanna check this out.

Starr

Parliament ends the first reading of the first amendment bill to the Iraqi National Oil Company law Baghdad today - Baghdad Today, Monday, the House of Representatives announced the completion of the first reading of the Iraqi National Oil Company law. The Media Department of Parliament said in a statement received (Baghdad Today), "The House of Representatives has completed the first reading of the bill for the first amendment of the Iraqi National Oil Company Law No. 4 of 2018. https://baghdadtoday.news/ar/news/135773/A

Starr

Re-Operation of the auction window for selling currency in dollars.” Hoping to find little more info...hoping they got it scam proof...it states selling, like exchange,but some articles refer to with fake invoice's. Good Evening Spartakus and all of DV..

Good Evening Dinar Vets, here's opinions & comments that might be of interest to you. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON ***Dinar News Update *** The United States and the Trump team negotiated another peace agreement in the Middle East. Sudan is the 3rd country to do so in the last four weeks. They signed the Abraham Peace Accord with Israel several days ago. This is HUGE news. The United Arab Emirates, Bahrain, and Sudan are the first Arab nations to normalize relations with Israel in over 25 years. They join Jordon and Egypt. Security and stability is sweeping across the region. At least 6 more nations are expected to join the accord. Many suspect Iraq could be one of them... *** Jeff ...the Borrowing Law. Here's what I see them doing. They've done the first reading and they haven't changed the rate yet. What that suggests to me is that they are most likely not going to change the rate until around the end of the approval process of the Borrowing Law. Typically all three readings of a law take anywhere from 30 to 45 days...they've already did the first reading... *** RVAlready I do know people who said this would not happen until after the election. But their reasoning seemed no good to me. If we are waiting for another event, it is certainly later than any plan I have ever heard about. *** Footforward [Comment/Q? : I know you don't care about the protest...but I woke up this morning and...the whole country is protesting... The people of Iraq gave the Gov until the 25 to start the reforms... but what a surprise Iraq couldn't follow through on another date...] ...the Iraqi people...have been asked to do something and they aren't doing their part. The issue is not the Iraqi PM. ...this Iraqi PM has done alot actually...The issue is not the Iraqi PM. At all. ...I don't care about protests going on...I absolutely believe this is going to happen. And nothing shakes me. At all. I don't change my mind because of the protests... *** Frank26 CBI Video: "A video of the Central Bank of counting and sorting the Iraqi currency and destroying it." You know why they're destroying it? ...because they're about to introduce the new small category notes...

Good Afternoon Dinar Vets, here's a few opinions & comments that might be of interest to you. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON *** Pimpy *** ARTICLE: "Al-Kazemi spokesman: More than 25 officials are behind bars" Al-Kazemi is no joke. When he is draining the Iraqi swamp he is draining the swamp...quote "25 officials in addition to the corrupt whales [Super wealthy individuals] are under bars and under investigation during the first 2 months of al-Kazemi's government." This is what I'm talking about man. Making these kinds of moves. Let's show the world that you're capable of handling the corruption. I love this news...this is gonna look really good in the eyes of the international community...Al-Kazemi...seems to be the man of the people and I love to see that... *** Mark *** It was an exceptionally quiet weekend with very little news…especially on the banking front. In Iraq this morning...no measurable movement. [Q? : Looking like RV after the election!] I am starting to feel that way. I was expecting a whole lot to happen this weekend that did not. Seven days and 14 hours until election day. If I hear anything worth sharing I will...but, at this point I am not anticipating anything earth shattering.

Maximize investment opportunities Monday 26th October 2020 46 Mohammed Sharif Abu Maysam https://alsabaah.iq/33639/تعظيم-فرص-الاستثمار In his last leg of his European tour, and during his meeting with a number of heads of British companies, last Friday in London, Prime Minister Mustafa Al-Kazemi said, “Iraq plans to maximize investment opportunities and provide suitable climates. Companies ». In this statement, what promises the existence of a government program that deals dynamically with the overall conditions and situations that constitute the features of the overall landscape in the country, thus establishing the presence of attractive elements for the flow of foreign capital into the country, and limiting the impact of current circumstances and conditions on opportunities Success. As the promising environment that characterizes the potential for investment in the country is not sufficient, unless the features of the overall scene are formed with it to be an attractive environment, and among the most important of these features, political and security stability stands at the forefront, with a legal system that organizes the relations of market elements under the umbrella of an effective judicial system A healthy banking sector capable of containing the flow of capital and ensuring financial transactions and transactions in accordance with the mechanisms and standards of the banking industry in the world, a stable monetary policy that ensures the stability of the Iraqi dinar exchange rate against foreign currencies, and an infrastructure that ensures the flow of transportation means and the flow of goods and raw materials, and transparency in dealing with Governmental institutions, and reducing the slack circles of administrative and procedural performance. Here, the element of time may enter as an obstacle to some circles, which need speed in removing the elements of the determinants, foremost of which are the drafts of stalled economic laws, the adoption of transparency and disclosure, the adoption of modern technologies, the initiation of the e-government program and the adoption of the single window mechanism, in a way that contributes to reducing the loosening episodes. In administrative, financial and control performance, in addition to diligence in implementing the laws that were enacted during the past years. Consequently, creating an attractive environment needs serious work and cohesion at the level of all axes, in order to find a way for new and different performance in the work of the three authorities, and the supervisory, executive and other institutional bodies, especially those related to the financial and monetary policies, in addition to the urgent need to review the administrative formations of the state apparatus. .

Parliamentary Committee: The Mineral Investment Law is ready for voting Monday, 26 October 2020 1:17 PM Classification: Iraqi https://nnciraq.com/43721/ Baghdad / National News Center - The Parliamentary Economic and Investment Committee confirmed, on Monday, that the Mineral Investment Law is ready to vote on it, and it is likely that the law will be passed during the coming sessions. A member of the committee, Yahya Al-Ithawi, said, according to the official agency, that "the mineral investment law is ready for voting, and it is expected to pass it during the next sessions," expressing his hope that "the instructions that will be issued for this law will encourage investment inside Iraq." He added that "there are many details in this law, and we want it to be issued in a good manner, without loopholes, to prevent the corrupt from entering through it."

you are such a muppet…...so tell me Einstein if Hillarious was going to win by a landslide when they rigged the elections and made up the steele dossier and Russian collusion and still couldn't win what makes you think that a pedo dementia ridden criminal will beat trump! trump has it in the bag! you loose!

Thanks for your input tigergorzow, It has to be the LD’Is Is the only way to give purchasing power to the people.

" Iraqi officials refuse to disclose their accounts ... and a warning against stopping their salaries " WTF . . . If this statement doesn't scream attitude and arrogance what does ?? This ought to send up big red flags & sirens to everyone !

Lower Denoms have been printed a long time ago! Please don’t fall off a cliff on one article!

Trump will win because 'American's aren't stupid' 5,229 views•Oct 26, 2020 Sky News Australia 813K subscribers Sky News host Rowan Dean says the way the media favours Joe Biden is unbelievable, hilarious, “but it’s also incredibly scary.” “This is a really important election; you cannot overstate how ghastly Joe Biden and Kamala Harris would be if they were in the White House on so many levels,” Mr Dean said. “Trump’s going to win on a land slide … because the American people are intelligent, they’re not stupid, they’re not going to vote that clown in. “The media can do all the tricks in the world, but people see it.”

Thanks 6ly410 looks like Iraq is serious about diversifying it’s economy

Those bold letters above make me feel all warm and fuzzy on the inside!! 🤑

Positive communication with the world Sunday 25 October 2020 8 Baghdad: Morning Economic researcher Firas Amer said: Iraq’s policy in international and regional communication has finally started to show positive results, but it needs to be removed from the unstable conditions in the region. Amer assured to “Al-Sabah” that the reforms that have been implemented in customs departments have achieved with Jordan speeding up procedures for dealing with documents on the Iraqi side and simplifying the movement of trucks on both sides. This came after the Cabinet announced in 2019 the standard customs procedures at border crossings, and the government hopes that the fees collection procedures will be automated by next year. Amer said, “There are some more interesting developments, especially in the energy sector. For the third quarter of 2020, the non-oil economy faced challenges that clarified the picture of its economic potential at the macro level. And micro ». He continued, "According to specialized centers in oil affairs, and with the review of the oil economy, two reports were issued that provide a detailed overview of developments in oil and gas, agriculture, industry, electricity and health, and diagnose the main weaknesses in Iraq amid the crisis (Covid-19) as the country received great international assistance." Amer pointed out that "the reports examined current policy options, and prospects for stability, in light of the new white paper on economic reform presented by the Iraqi Council of Ministers on the 13th of this month." He stressed the need for "Iraq's policy to continue to balance regional relations within the fastest time, and to find solutions to the common global challenge represented by the collapse of oil prices and the epidemic." Global".

How many times does it have to be said... The CBI is a private bank, they will do whatever they please... Remember Bush was going to pay for the war... Didn't happen. Obama was going to save the economy and erase debt... Didn't happen. Trump holds piles of Dinar and would push the button... Didn't happen... Our government does not have the power to make this happen.... This is a game being played by the Banksters and when the are ready, they will cash in... If you are smart and hold on you will cash in as well... Just be glad that unlike most people, you are in this and know what is coming.... JMHO

Dr. Shabibi went to head the Monetary Policy Committee at The Bank of England February 2019, and earlier this year Kazemi stated he would like to bring Dr. Shabibi back to CBI. I think Kazemi has been working for quite some time with Dr. Shabibi, the IMF, World Bank and the other entities Kazemi and CBI Governor met with in England, German, and France on the White Paper and Iraq's economic reform. IMO The White Paper was a joint effort with other countries to write an economic program that could work for Iraq with their support. "The Bank of England decided to appoint Professor Shabibi as chairman of the Monetary Policy Committee, which was previously governor of the Central Bank of Iraq," the English media reported. "This decision came to benefit from the experiences of al-Shabibi to maintain the exchange rate of the British pound and to prevent the British economy from getting into trouble, especially after the exit from the European Union."

Tomorrow ... the launch of the Fifth Iraq Oil and Gas Conference 2020-10-25 Yes Iraq - Baghdad Today, Sunday, the Ministry of Oil announced the launch of the fifth oil and gas conference organized by the ministry for the period from 26 to 28 October, tomorrow, Monday. A statement by the ministry stated that the conference will witness the participation of many researchers in the oil sector, universities and specialized colleges, indicating that the research presented deals with the oil industry sectors and the mechanisms for their development. He added that, due to the Corona pandemic and commitment to the decisions of the Supreme Health and Safety Committee, the conference will be held through the application of (zoom) in order to preserve the principle of separation and health safety. https://yesiraq.com/غداً-انطلاق-اعمال-مؤتمر-العراق-الخامس/

https://cbi.iq/static/uploads/up/file-149811372279797.pdf https://cbi.iq/page/26 Central Bank of Iraq Press CommuniquéNew Central Bank policy instruments Summary At its August 26 meeting, the Board of the Central Bank of Iraq (CBI) adopted a new Reserve Requirement regulation and a new Banking Facilities regulation. These regulations are attached. This Communiqué sets out the broad features of the new regulations and explains the reasons for adopting them in the context of strengthening the CBI’s conduct of monetary policy and supporting the Ministry of Finance’s (MOF’s) new government securities issue program. The CBI will soon issue draft instructions for implementing the new regulations. The changes in the CBI’s regulations and operations are designed to give the Central Bank better control of the money supply while at the same time providing greater certainty to banks with regard to the options and terms for managing their liquidity. The new government securities market is also expected to play an important positive role in bank liquidity management in conjunction with these new regulations. Banks will be expected and financially encouraged to manage their short-term liquidity needs with other banks (or the market more generally), turning to the central bank as a last resort. The CBI will hold meetings with banks in the near future to discuss the proposed regulations. The MOF has changed the way it finances its revenue shortfalls because of the new legal restrictions on its borrowing from the CBI and its desire to develop an active market in government securities. As required by the newly adopted Public Debt Law, all debt service will now be paid in cash. Thus the government securities held outside the Central Bank of Iraq (CBI) that matured July 1 were repaid with interest. The government securities held by the CBI are being dealt with in the context of an agreement between the MOF and the CBI to restructure the central bank’s claims on the government. The MOF has begun issuing new securities to refinance the maturing existing ones. The new securities may be traded after issue in a secondary market. The Central Bank of Iraq (CBI) has been recasting its operational relationship with banks in order to develop market based instruments of monetary policy and to facilitate the development of the market for the new MOF securities. Banks will no longer be required to hold MOF securities equal to 10 percent of total deposits (now contained in the reserve requirement regulation). The CBI will no longer buy or sell the existing MOF securities at the initiative of banks. In addition, the existing overdraft and advance facilities of the CBI have been closed and will be replaced by the new standing lending and deposit facilities just adopted by the CBI Board. The new reserve requirement regulation will go into effect in either October or November. The CBI may at its discretion buy or sell MOF securities with banks in a competitive auction as required for monetary policy purposes (so called “open market operations”). The details of all of these changes are explained below. Explanation to Banks of New Monetary Policy Instruments Monetary Policy Instruments The design of a central bank’s monetary policy instruments should serve both to foster efficient short-term liquidity management by banks and to deliver the central bank’s desired monetary policy (which can be measured by a variety of intermediate variables, including the yield curve, the exchange rate, and the rate of growth of the monetary supply). With regard to liquidity management, the central bank’s policy instruments must work together with money and securities markets and an efficient payment system to provide banks with confidence that they can always meet their payment obligations at a reasonable cost. The most certain, but also the most costly, form of liquidity is provided by excess reserves (vault cash and balances with the central bank in excess of required reserves). Intermediation spreads (the difference between interest rates on deposits and on loans) can be narrowed by enabling banks to minimize their holdings of non-interest yielding excess reserves. Bank’s ability to minimize excess reserves depends on the availability of other reliable means of liquidity management. The CBI currently has the following active and passive instruments that affect market liquidity (base money): •Foreign exchange auctions, in which the CBI buys or sells dollars to the market in light of its policy objectives; •A reserve requirement regulation that requires banks to hold in relation to their customers deposits: differentiated levels of deposits with the CBI, vault cash, and MOF securities. •An Overdraft Facility, for banks with reserve account balances at the CBI that are not sufficient to settle their net end of day payment obligations; •A Discount Window for bills of exchange and similar bank paper with a maturity of less than 90 days and at least two endorsements (currently charging 11% for good quality paper); •Lender of Last Resort Facility, which provides individually negotiated loans against collateral, for banks with chronic liquidity problems; •MOF securities Window, at which banks may buy or sell MOF securities at par (i.e. at issued interest rate). The above instruments are not adequate for the development of an efficient market oriented financial sector. In particular, they are not adequate or appropriate for developing an efficient and liquid market in government securities or for conducting a market based monetary policy. While the new FX auctions are well designed and are functioning satisfactorily, the other instruments are being redesigned. The reserve requirement does not provide banks with a useful liquidity management tool and would have complicated the implementation of a monetary target. It also includes a government securities requirement that should not be part of the requirement. The various lending facilities are not very transparent and do not always serve policy objectives. The MOF securities window provides much needed liquidity to MOF securities, but under terms that undercut the development of secondary trading and of an interbank market. Furthermore, the MOF securities window deprives the CBI of one of its most important instruments of monetary control by leaving to banks the discretion to buy or sell MOF securities with the CBI. Articles 28, 29 and 30 of the CBI law establish the CBI’s powers to conduct open market operations, provide standing facilities for banks, establish reserve requirements, and, under exceptional circumstances, provide Lender of Last Resort credits. These articles provide the basis for the modern policy instruments being adopted by the CBI. The new reserve requirement and banking facilities regulations are designed to help banks manage their liquidity more effectively in the market. Banks are encouraged to deal with each other more extensively rather than the central bank when managing their liquidity. The reasons for and key features of each new instrument are set out below. Reserve Requirement The CBI’s reserve requirement, confirmed as recently as December 12, 2003, is really three separate requirements in one Instruction. It requires banks to maintain frozen deposits with the CBI, which are currently 20% of their current/demand deposit liabilities of the previous month, 5% of their savings deposit liabilities, and 2% of their time/fixed deposit liabilities. In addition, the Instruction also contains two additional, basically unrelated requirements to hold MOF securities of at least 10% of banks’ total deposit liabilities and vault cash of at least 5% of total deposit liabilities. These required reserves are not remunerated. The Reserve Requirement Instruction is addressed by CBI’s Board of Directors to the Statistical and Research Department and the Credit and Banking Control Department. The report from banks in compliance with the Instruction is addressed to the Accounting Department. This reserve requirement does not reflect best practice and the CBI is introducing a new requirement, better designed for the needs of monetary policy in a market economy. Where they exist, reserve requirements almost universally are seen as a tool of monetary policy rather than banking supervision. Thus the responsibility for monitoring each bank’s compliance with the revised requirement has been moved from the Credit and Banking Control Department to the Agreements and Loans Department, the department with primary responsibility for monetary policy implementation. For monetary policy purposes a uniform requirement (i.e., the same ratio for all reservable deposits) is preferable. The ratio in the new requirement is applied to all deposit liabilities in the definition of money because that makes the money multiplier (the ratio of the quantity of money to base money) more stable and predictable. In addition, it has a neutral impact on the public’s choice of deposit maturities, which from a “tax” policy perspective is preferable. Foreign currency deposits are also included in the deposit base for the reserve requirement so as not to favor foreign currency deposits and hence dollarization. The requirement against both dinar and foreign currency deposits must be meet with dinars. The current regulation imposes separate requirements on bank’s deposits with the CBI and bank’s vault cash. In the new requirement these are combined so that the single, uniform requirement may be satisfied by the sum of each bank’s vault cash and current account deposits with the CBI.1The primary benefit to banks of the new requirement results from allowing the requirement to be met on average rather than on a continuously basis. The requirement will continue to be established for monthly periods but the current frozen deposits will be moved into the single clearing account for each bank. The assets that must be held on average to satisfy the requirement will be banks’ Iraqi dinar deposits with the central bank (other than in the standing deposit facility) plus their (new) Iraqi dinar cash in their vaults. A bank may use any and all of its deposits with the CBI on any day as long as its average end of day balance (plus its average ID vault cash) is equal or greater than the required amount. The CBI Board has set the reserve ratio at 25 percent. Because the new reserve requirement allows banks to use their dinar vault cash to satisfy the requirement, bank’s reserve assets will be greatly increased. To limit the impact of this change on bank liquidity (without raising the requirement ration even more), the Board also stipulated that 20 percent (of deposits) must be meet by deposits at the CBI and 5 percent (of deposits) by vault cash. A monthly averaging period can convert the reserve requirement into a quite useful tool for absorbing individual bank and system wide liquidity fluctuations in day to day positions. The 10% government security requirement is being discontinued, as is the separate requirement for vault cash. Standing facilities “When...financial markets, and more broadly financial systems, are not well developed, central banks have to place greater reliance on standing facilities than on open market operations. In that regard, standing facilities can act as a safety valve in response to unexpected liquidity developments or to various obstacles or inefficiencies that prevent a smooth redistribution of reserves via the interbank market. The safety valve function is also important when the liquidity forecasting framework is weak....” 1 A bank’s deposit at the CBI in the proposed standing deposit facility would not be counted toward satisfying the reserve requirement. The new central bank law provides for the CBI to establish standing lending and deposit facilities. A standing lending facility and a lender of last resort facility will replace the existing over draft and advance facilities now in use. The new law does not permit overdrafts of banks’ balances with the CBI. The purpose of standing credit and deposit facilities is to provide assurance to banks that they can manage their excess liquidity within a modest range of interest rates that straddle the central bank’s policy objective for short term rates. In the absence of well developed interbank money and securities markets in which the CBI’s open market operations can be conducted, the CBI will express its view on the short term interest rate appropriate for monetary policy by setting a Policy Rate as a reference rate. The standing lending and deposit facilities will have interest rates in relation to this Policy Rate. The rates on these facilities also provide an interest rate spread between placing and receiving funds from the central bank for the given maturity period (overnight). This spread is important because it should encourage banks to develop an interbank market and manage their liquidity with each other in the first instance, rather than always dealing with the central bank. Once interbank markets are better developed, the CBI’s open market operations will aim, in part, to keep short-term interbank interest rates well within the tunnel of the rates of the two standing facilities. The rates on the standing lending and deposit facility should float above and below prevailing money market rates. Until an interbank money market and secondary trading of MOF securities are developed, the rates set on these two facilities will be set in relation to the Policy Rate of the CBI. The CBI will need to carefully monitor this rate in light of monetary policy objectives. The Board has initially set the Policy Rate at 6 percent. Standing lending facility A standing Primary Credit facility will provide over night credit to banks against suitable collateral at the initiative of the banks. Banks will be able to borrow overnight a maximum amount in relation to their capital (as long as they had eligible collateral) at that day’s Primary Credit rate. The interest rate will be set at a premium above the CBI’s Policy Rate. The Board has set the Primary Credit rate at the Policy Rate plus 2 percent, i.e., at 8 percent. In the future, as financial markets deepen, the facility’s interest rate premium will be reduced. As a further safeguard of the intended temporary and occasional nature of the facility, a larger premium will be imposed for use of the facility for more than fifteen days each month under a Secondary Credit facility. A bank may use primary credit on 15 days in a month and may use it on additional days in a month with prior Central Bank approval. A bank may use primary credit up to 20 percent of the bank’s capital and may use primary credit in excess of this amount with prior Central Bank approval. The Secondary Credit facility has the same eligibility criteria as the Primary Credit facility but can be extended for longer periods at a some what higher interest rate and is granted at the discretion of the central bank. Initially the prolonged use premium will be 1 percentage points about the Primary Credit rate, i.e. 9%. It will not be profitable for banks to borrow excessive amounts under these conditions for other than temporary distress situations, which CBI should accommodate in any event. Borrowing by more seriously distressed banks will be covered by a Lender of Last Resort Facility discussed below as part of supervisory measures imposed by the Bank Supervision Department. CBI advances under all of these facilities must be collateralized with collaterals acceptable to the CBI. The CBI will publish the list of acceptable collateral for each facility and may revise the list at any time. Initially, for the Primary Credit facility the CBI will accept MOF securities with a remaining maturity of less than 180 days. Banks must pledge MOF securities they own in the MOF securities depository, by instructing the CBI to mark the required amount as pledged to the CBI as collateral. Lender of Last Resort (LLR) facility The central bank law also provides for lending to distressed banks under exceptional circumstances. An example might be to stem a run on a bank hit by unfounded rumors. Another example might be to provide an otherwise sound bank time to work out of a chronic liquidity shortage. For this purpose, the bank would generally be under enhanced supervision and would be expected to carry out specific supervisory measures to correct its problems. Most often, however, what first looks like a liquidity problem is really a solvency problem. Many countries have wasted a great deal of the public treasury propping up insolvent banks through liquidity support loans. The CBI will not generally lend to an insolvent bank. The law places strict limits on the conditions for these exceptional loans in Article 30. Such a loan is not allowed unless: “a. the bank, in the opinion of the CBI, is solvent and provides adequate collateral, and the request for financial assistance is based on the need to improve liquidity; or b. such assistance is necessary to preserve the stability of the financial system and the Minister of Finance has issued to the CBI a guarantee in writing on behalf of the Government securing the repayment of the loan.” The LLR facility can advance collateralized funds for longer periods and can accept a broader range of less traditional collateral (conservatively valued). The interest rate charged on Lender of Last Resort facility loans will be the Policy Rate set by the CBI plus 3.5 percent. i.e. 9.5%. Deposit facility The CBI will open a standing deposit facility, which will accept overnight deposits from banks with excess reserves. Funds will not be placed in the facility unless explicitly ordered by a bank. The interest rate on these deposits will be set below the CBI Policy Rate. Initially the rate will be set at 2 percentage points below the Policy Rate. The facility will provide a floor to very short-term interest rates, which will help bring some stability to bank expectations about interest rates. Moreover, until a t-bill market develops in which the CBI can conduct its open market operations, the deposit facility can “automatically” drain excess liquidity from the banking sector. The Policy Rate The monetary policy of the CBI expresses itself, in part, in the short-term money market interest rates that it brings about. That market is now very undeveloped and thus cannot yet be relied on to reflect the central bank’s policy stance. Until that market, or the secondary market in very short-term MOF securities is adequately developed, the CBI will signal its target for over night, interbank interest rates by setting a bench mark reference rate. It calls this interest rate its Policy Rate. Banks are free to set their own interest rates and to deal with each other and others in the market at any mutually agreed interest rate. The Policy Rate is the bench mark rate from which the Primary Credit, Secondary Credit, Lender of Last Resort credit, and Overnight Deposit rates are set. It is the rate the CBI thinks is appropriate to maintain price stability and that its monetary policy will attempt to achieve (by keeping bank liquidity at levels consistent with the Policy Rate). Open Market Operations The CBI can influence bank liquidity (excess reserves) and thus short term interest rates by buying and selling government securities. Selling such securities to the market from the CBI’s own holding would drain liquidity from the banking system (by reducing bank’s balances in their reserve accounts with the CBI). Buying them from the public would increase banks’ liquidity (i.e., their reserve account balances). Such open market operations (OMO) would provide an important second instrument (along with the foreign exchange auctions) of active liquidity management. Various strategies for the use of OMO are possible. The CBI might, for example, choose to provide for desired long-term monetary growth through the accumulation of foreign exchange reserves. The monetary effect of higher or lower rates of foreign exchange reserve growth resulting from interventions to stabilize the exchange rate could be sterilized with OMO. Otherwise OMO would be limited to stabilizing bank liquidity and keeping short-term money market interest rates within the tunnel of the CBI’ Credit and Deposit facility rates. OMO will generally by undertaken on an auction bases with banks. Such auctions will look very much like the foreign exchange auctions now being conducted.

Well @ladyGrace'sDaddy, they are both right. If Biden gets elected then this nation will see very dark days ahead from his presidency and if President Trump gets re-elected, then great things lay ahead for this nation. I choose having great days ahead!

Huge news

Trump. So if trump wins the election for a second term, hopefully trump has the authority to push the rv button. Come rv.

Sometimes by using humor, you can really bring the point home. Love this!!

Just as long as these guys refrain from “Toobin” on their zoom calls 😱

Just the way it is.....😉 CL

exactly.... some of these trumpers need stay away from that clorox and stop leading people on.... on Nov.3 he will be voted out .... and will move along...

Starr

This is a Sunday Night Opinion - 10/25/2020 post...!

If you live by the polls...you'll die by the polls.....Proverbs 2016....😉 CL

they also have new coins.....

Common Sense is no longer Common!!

So if it's on ZOOM the Men will be in Coat & Tie, no slacks just wearing Fruit of the Looms with their favorite cloven hoofed buddy in tow. . . just to keep things " light " As for what the Ladies' are wearing, they probably have the good sense to be completely dressed. I think I woke up on the wrong side of the Bed today.

Al-Kazemi: Iraq has opened 30 major corruption files and will not surrender to the supporters of the state Iraqi Prime Minister Mustafa Al-Kazemi October 24, 2020 11:40 PM Mubasher: Mustafa Al-Kazemi, Prime Minister of Iraq, said that “despite the crisis caused by the Corona pandemic, the collapse of oil prices, and we received an economic file burdened with wrong and painful policies, and a treasury emptied by the absence of economic strategies and total dependence on oil, we saved the country's basic needs, and presented a blank paper. An ambitious economic reformist, it put in place long-term solutions to prevent economic collapse, and to encourage agriculture, national industry and investment. In a speech on the occasion of the first anniversary of the October uprising, which was transmitted by the official page of the Media Office on Facebook, today, Saturday, Al-Kazemi added that this government was formed with an eye towards being an expression of the will of the people, and that was in its government platform. He continued: "This curriculum was put into effect from the first day of the government’s life, which does not exceed five months, and the first criterion we set on our conscience is that we are a government whose primary goal is to prepare for free, fair and fair elections, and we have determined, without hesitation, the sixth of June. 2021 is the date for these elections, and we are sticking to this date. " Regarding the parliamentary elections, Al-Kazemi said: “We have worked and are still working, with the assistance of the Election Commission, to complete its preparations for the success of this great event, especially in the event that the distinguished parliament completes the mechanisms of the election law, and we are working to ensure that international organizations and institutions monitor these elections to ensure more transparency and integrity.” . Al-Kazemi indicated that serious measures had been started to implement the White Paper, in a way that would serve the people's interests and economic security. He added that the government has confirmed that it will take great strides in confronting corruption, and "we have done, for the first time, all component considerations and challenges of influence of some will be overlooked, to open more than thirty large corruption files, as it was impossible to open them previously, and we brought those involved in those files into law." Al-Kazemi stressed in his speech that the government will never surrender to the supporters of the state, the followers of this or that side, or those affected by this stage, in their continuous attempt to strip the peaceful demonstration of its essence, and planting abusers, opportunists, criminals and seditioners in its ranks, after they failed in Kidnapping of the state by fugitive weapon.

Todays Collage Student.

https://cbi.iq/static/uploads/up/file-149811372279797.pdf https://cbi.iq/page/26 Central Bank of Iraq Press CommuniquéNew Central Bank policy instruments Summary At its August 26 meeting, the Board of the Central Bank of Iraq (CBI) adopted a new Reserve Requirement regulation and a new Banking Facilities regulation. These regulations are attached. This Communiqué sets out the broad features of the new regulations and explains the reasons for adopting them in the context of strengthening the CBI’s conduct of monetary policy and supporting the Ministry of Finance’s (MOF’s) new government securities issue program. The CBI will soon issue draft instructions for implementing the new regulations. The changes in the CBI’s regulations and operations are designed to give the Central Bank better control of the money supply while at the same time providing greater certainty to banks with regard to the options and terms for managing their liquidity. The new government securities market is also expected to play an important positive role in bank liquidity management in conjunction with these new regulations. Banks will be expected and financially encouraged to manage their short-term liquidity needs with other banks (or the market more generally), turning to the central bank as a last resort. The CBI will hold meetings with banks in the near future to discuss the proposed regulations. The MOF has changed the way it finances its revenue shortfalls because of the new legal restrictions on its borrowing from the CBI and its desire to develop an active market in government securities. As required by the newly adopted Public Debt Law, all debt service will now be paid in cash. Thus the government securities held outside the Central Bank of Iraq (CBI) that matured July 1 were repaid with interest. The government securities held by the CBI are being dealt with in the context of an agreement between the MOF and the CBI to restructure the central bank’s claims on the government. The MOF has begun issuing new securities to refinance the maturing existing ones. The new securities may be traded after issue in a secondary market. The Central Bank of Iraq (CBI) has been recasting its operational relationship with banks in order to develop market based instruments of monetary policy and to facilitate the development of the market for the new MOF securities. Banks will no longer be required to hold MOF securities equal to 10 percent of total deposits (now contained in the reserve requirement regulation). The CBI will no longer buy or sell the existing MOF securities at the initiative of banks. In addition, the existing overdraft and advance facilities of the CBI have been closed and will be replaced by the new standing lending and deposit facilities just adopted by the CBI Board. The new reserve requirement regulation will go into effect in either October or November. The CBI may at its discretion buy or sell MOF securities with banks in a competitive auction as required for monetary policy purposes (so called “open market operations”). The details of all of these changes are explained below. Explanation to Banks of New Monetary Policy Instruments Monetary Policy Instruments The design of a central bank’s monetary policy instruments should serve both to foster efficient short-term liquidity management by banks and to deliver the central bank’s desired monetary policy (which can be measured by a variety of intermediate variables, including the yield curve, the exchange rate, and the rate of growth of the monetary supply). With regard to liquidity management, the central bank’s policy instruments must work together with money and securities markets and an efficient payment system to provide banks with confidence that they can always meet their payment obligations at a reasonable cost. The most certain, but also the most costly, form of liquidity is provided by excess reserves (vault cash and balances with the central bank in excess of required reserves). Intermediation spreads (the difference between interest rates on deposits and on loans) can be narrowed by enabling banks to minimize their holdings of non-interest yielding excess reserves. Bank’s ability to minimize excess reserves depends on the availability of other reliable means of liquidity management. The CBI currently has the following active and passive instruments that affect market liquidity (base money): •Foreign exchange auctions, in which the CBI buys or sells dollars to the market in light of its policy objectives; •A reserve requirement regulation that requires banks to hold in relation to their customers deposits: differentiated levels of deposits with the CBI, vault cash, and MOF securities. •An Overdraft Facility, for banks with reserve account balances at the CBI that are not sufficient to settle their net end of day payment obligations; •A Discount Window for bills of exchange and similar bank paper with a maturity of less than 90 days and at least two endorsements (currently charging 11% for good quality paper); •Lender of Last Resort Facility, which provides individually negotiated loans against collateral, for banks with chronic liquidity problems; •MOF securities Window, at which banks may buy or sell MOF securities at par (i.e. at issued interest rate). The above instruments are not adequate for the development of an efficient market oriented financial sector. In particular, they are not adequate or appropriate for developing an efficient and liquid market in government securities or for conducting a market based monetary policy. While the new FX auctions are well designed and are functioning satisfactorily, the other instruments are being redesigned. The reserve requirement does not provide banks with a useful liquidity management tool and would have complicated the implementation of a monetary target. It also includes a government securities requirement that should not be part of the requirement. The various lending facilities are not very transparent and do not always serve policy objectives. The MOF securities window provides much needed liquidity to MOF securities, but under terms that undercut the development of secondary trading and of an interbank market. Furthermore, the MOF securities window deprives the CBI of one of its most important instruments of monetary control by leaving to banks the discretion to buy or sell MOF securities with the CBI. Articles 28, 29 and 30 of the CBI law establish the CBI’s powers to conduct open market operations, provide standing facilities for banks, establish reserve requirements, and, under exceptional circumstances, provide Lender of Last Resort credits. These articles provide the basis for the modern policy instruments being adopted by the CBI. The new reserve requirement and banking facilities regulations are designed to help banks manage their liquidity more effectively in the market. Banks are encouraged to deal with each other more extensively rather than the central bank when managing their liquidity. The reasons for and key features of each new instrument are set out below. Reserve Requirement The CBI’s reserve requirement, confirmed as recently as December 12, 2003, is really three separate requirements in one Instruction. It requires banks to maintain frozen deposits with the CBI, which are currently 20% of their current/demand deposit liabilities of the previous month, 5% of their savings deposit liabilities, and 2% of their time/fixed deposit liabilities. In addition, the Instruction also contains two additional, basically unrelated requirements to hold MOF securities of at least 10% of banks’ total deposit liabilities and vault cash of at least 5% of total deposit liabilities. These required reserves are not remunerated. The Reserve Requirement Instruction is addressed by CBI’s Board of Directors to the Statistical and Research Department and the Credit and Banking Control Department. The report from banks in compliance with the Instruction is addressed to the Accounting Department. This reserve requirement does not reflect best practice and the CBI is introducing a new requirement, better designed for the needs of monetary policy in a market economy. Where they exist, reserve requirements almost universally are seen as a tool of monetary policy rather than banking supervision. Thus the responsibility for monitoring each bank’s compliance with the revised requirement has been moved from the Credit and Banking Control Department to the Agreements and Loans Department, the department with primary responsibility for monetary policy implementation. For monetary policy purposes a uniform requirement (i.e., the same ratio for all reservable deposits) is preferable. The ratio in the new requirement is applied to all deposit liabilities in the definition of money because that makes the money multiplier (the ratio of the quantity of money to base money) more stable and predictable. In addition, it has a neutral impact on the public’s choice of deposit maturities, which from a “tax” policy perspective is preferable. Foreign currency deposits are also included in the deposit base for the reserve requirement so as not to favor foreign currency deposits and hence dollarization. The requirement against both dinar and foreign currency deposits must be meet with dinars. The current regulation imposes separate requirements on bank’s deposits with the CBI and bank’s vault cash. In the new requirement these are combined so that the single, uniform requirement may be satisfied by the sum of each bank’s vault cash and current account deposits with the CBI.1The primary benefit to banks of the new requirement results from allowing the requirement to be met on average rather than on a continuously basis. The requirement will continue to be established for monthly periods but the current frozen deposits will be moved into the single clearing account for each bank. The assets that must be held on average to satisfy the requirement will be banks’ Iraqi dinar deposits with the central bank (other than in the standing deposit facility) plus their (new) Iraqi dinar cash in their vaults. A bank may use any and all of its deposits with the CBI on any day as long as its average end of day balance (plus its average ID vault cash) is equal or greater than the required amount. The CBI Board has set the reserve ratio at 25 percent. Because the new reserve requirement allows banks to use their dinar vault cash to satisfy the requirement, bank’s reserve assets will be greatly increased. To limit the impact of this change on bank liquidity (without raising the requirement ration even more), the Board also stipulated that 20 percent (of deposits) must be meet by deposits at the CBI and 5 percent (of deposits) by vault cash. A monthly averaging period can convert the reserve requirement into a quite useful tool for absorbing individual bank and system wide liquidity fluctuations in day to day positions. The 10% government security requirement is being discontinued, as is the separate requirement for vault cash. Standing facilities “When...financial markets, and more broadly financial systems, are not well developed, central banks have to place greater reliance on standing facilities than on open market operations. In that regard, standing facilities can act as a safety valve in response to unexpected liquidity developments or to various obstacles or inefficiencies that prevent a smooth redistribution of reserves via the interbank market. The safety valve function is also important when the liquidity forecasting framework is weak....” 1 A bank’s deposit at the CBI in the proposed standing deposit facility would not be counted toward satisfying the reserve requirement. The new central bank law provides for the CBI to establish standing lending and deposit facilities. A standing lending facility and a lender of last resort facility will replace the existing over draft and advance facilities now in use. The new law does not permit overdrafts of banks’ balances with the CBI. The purpose of standing credit and deposit facilities is to provide assurance to banks that they can manage their excess liquidity within a modest range of interest rates that straddle the central bank’s policy objective for short term rates. In the absence of well developed interbank money and securities markets in which the CBI’s open market operations can be conducted, the CBI will express its view on the short term interest rate appropriate for monetary policy by setting a Policy Rate as a reference rate. The standing lending and deposit facilities will have interest rates in relation to this Policy Rate. The rates on these facilities also provide an interest rate spread between placing and receiving funds from the central bank for the given maturity period (overnight). This spread is important because it should encourage banks to develop an interbank market and manage their liquidity with each other in the first instance, rather than always dealing with the central bank. Once interbank markets are better developed, the CBI’s open market operations will aim, in part, to keep short-term interbank interest rates well within the tunnel of the rates of the two standing facilities. The rates on the standing lending and deposit facility should float above and below prevailing money market rates. Until an interbank money market and secondary trading of MOF securities are developed, the rates set on these two facilities will be set in relation to the Policy Rate of the CBI. The CBI will need to carefully monitor this rate in light of monetary policy objectives. The Board has initially set the Policy Rate at 6 percent. Standing lending facility A standing Primary Credit facility will provide over night credit to banks against suitable collateral at the initiative of the banks. Banks will be able to borrow overnight a maximum amount in relation to their capital (as long as they had eligible collateral) at that day’s Primary Credit rate. The interest rate will be set at a premium above the CBI’s Policy Rate. The Board has set the Primary Credit rate at the Policy Rate plus 2 percent, i.e., at 8 percent. In the future, as financial markets deepen, the facility’s interest rate premium will be reduced. As a further safeguard of the intended temporary and occasional nature of the facility, a larger premium will be imposed for use of the facility for more than fifteen days each month under a Secondary Credit facility. A bank may use primary credit on 15 days in a month and may use it on additional days in a month with prior Central Bank approval. A bank may use primary credit up to 20 percent of the bank’s capital and may use primary credit in excess of this amount with prior Central Bank approval. The Secondary Credit facility has the same eligibility criteria as the Primary Credit facility but can be extended for longer periods at a some what higher interest rate and is granted at the discretion of the central bank. Initially the prolonged use premium will be 1 percentage points about the Primary Credit rate, i.e. 9%. It will not be profitable for banks to borrow excessive amounts under these conditions for other than temporary distress situations, which CBI should accommodate in any event. Borrowing by more seriously distressed banks will be covered by a Lender of Last Resort Facility discussed below as part of supervisory measures imposed by the Bank Supervision Department. CBI advances under all of these facilities must be collateralized with collaterals acceptable to the CBI. The CBI will publish the list of acceptable collateral for each facility and may revise the list at any time. Initially, for the Primary Credit facility the CBI will accept MOF securities with a remaining maturity of less than 180 days. Banks must pledge MOF securities they own in the MOF securities depository, by instructing the CBI to mark the required amount as pledged to the CBI as collateral. Lender of Last Resort (LLR) facility The central bank law also provides for lending to distressed banks under exceptional circumstances. An example might be to stem a run on a bank hit by unfounded rumors. Another example might be to provide an otherwise sound bank time to work out of a chronic liquidity shortage. For this purpose, the bank would generally be under enhanced supervision and would be expected to carry out specific supervisory measures to correct its problems. Most often, however, what first looks like a liquidity problem is really a solvency problem. Many countries have wasted a great deal of the public treasury propping up insolvent banks through liquidity support loans. The CBI will not generally lend to an insolvent bank. The law places strict limits on the conditions for these exceptional loans in Article 30. Such a loan is not allowed unless: “a. the bank, in the opinion of the CBI, is solvent and provides adequate collateral, and the request for financial assistance is based on the need to improve liquidity; or b. such assistance is necessary to preserve the stability of the financial system and the Minister of Finance has issued to the CBI a guarantee in writing on behalf of the Government securing the repayment of the loan.” The LLR facility can advance collateralized funds for longer periods and can accept a broader range of less traditional collateral (conservatively valued). The interest rate charged on Lender of Last Resort facility loans will be the Policy Rate set by the CBI plus 3.5 percent. i.e. 9.5%. Deposit facility The CBI will open a standing deposit facility, which will accept overnight deposits from banks with excess reserves. Funds will not be placed in the facility unless explicitly ordered by a bank. The interest rate on these deposits will be set below the CBI Policy Rate. Initially the rate will be set at 2 percentage points below the Policy Rate. The facility will provide a floor to very short-term interest rates, which will help bring some stability to bank expectations about interest rates. Moreover, until a t-bill market develops in which the CBI can conduct its open market operations, the deposit facility can “automatically” drain excess liquidity from the banking sector. The Policy Rate The monetary policy of the CBI expresses itself, in part, in the short-term money market interest rates that it brings about. That market is now very undeveloped and thus cannot yet be relied on to reflect the central bank’s policy stance. Until that market, or the secondary market in very short-term MOF securities is adequately developed, the CBI will signal its target for over night, interbank interest rates by setting a bench mark reference rate. It calls this interest rate its Policy Rate. Banks are free to set their own interest rates and to deal with each other and others in the market at any mutually agreed interest rate. The Policy Rate is the bench mark rate from which the Primary Credit, Secondary Credit, Lender of Last Resort credit, and Overnight Deposit rates are set. It is the rate the CBI thinks is appropriate to maintain price stability and that its monetary policy will attempt to achieve (by keeping bank liquidity at levels consistent with the Policy Rate). Open Market Operations The CBI can influence bank liquidity (excess reserves) and thus short term interest rates by buying and selling government securities. Selling such securities to the market from the CBI’s own holding would drain liquidity from the banking system (by reducing bank’s balances in their reserve accounts with the CBI). Buying them from the public would increase banks’ liquidity (i.e., their reserve account balances). Such open market operations (OMO) would provide an important second instrument (along with the foreign exchange auctions) of active liquidity management. Various strategies for the use of OMO are possible. The CBI might, for example, choose to provide for desired long-term monetary growth through the accumulation of foreign exchange reserves. The monetary effect of higher or lower rates of foreign exchange reserve growth resulting from interventions to stabilize the exchange rate could be sterilized with OMO. Otherwise OMO would be limited to stabilizing bank liquidity and keeping short-term money market interest rates within the tunnel of the CBI’ Credit and Deposit facility rates. OMO will generally by undertaken on an auction bases with banks. Such auctions will look very much like the foreign exchange auctions now being conducted.

Iraqi MP: There is no financial crisis in the country, but rather corruption and mismanagement Iraqi Parliament 26 October 2020 11:24 AM Mubasher: A member of the Iraqi parliament, Burhan Al-Mamouri, said that the country is not suffering from a financial crisis, but rather from corruption and mismanagement. Al-Maamouri added, according to a statement by the Media Department of the House of Representatives, that Iraq is a country with multiple natural resources and diversified goods, and it has sources of financial revenues that make it at the forefront of the richest countries in the world. Al-Mamouri indicated that the resources of the border crossings, the holy shrines and taxes, if properly utilized, would alone suffice for the people to live in luxury and prosperity. A member of the Iraqi parliament noted that the quota system that successive governments followed after 2003 is one of the most important causes of the loss of the country's wealth, adding that the lack of use of competencies and economists and placing inappropriate people in financial decision-making centers is one of the most important results of the deterioration that Iraq is going through. Al-Mamouri pointed out that it is the lack of clarity of the financial system, urgent decisions and useless plans that led to a large waste of public money, but he believes that there is no real financial crisis, but rather, codified corruption and poor planning and management is the reason that brought the country to the brink of economic collapse.

Hey JD....you responded within seconds with that confused face....you are confused because you didn't view the video....and that's the problem with you and the left.....you're not willing to put in the work....! CL

Thought we might kick start this one back up.... CL There are many reasons Trump will win.....the much maligned by the MSM Jared Kushner is one of them. Kushner is a stay in the background guy....but take a few minutes and watch and listen. Trump has many surrounding him with this caliber of brilliance..... Not to mention a team of 2.5 million very qualified campaign workers working with his staff of 2000 ......working for Trumps reelection. "Iron sharpens Iron" Start: At 3:15 mark

Keep posting those polls....pew was showing 71- 19 Biden for the Jewish vote.....another 80 - 10 Biden on the Black vote.... "C'mon Man".....( my best Biden impression..😮) Dump the polls crap and use some common sense.... CL

Trump's daughter and son-in-law threaten a lawsuit over ads October 26, 2020 00:02 am Read 1 minute Listen Ivanka, the daughter of US President Donald Trump and son-in-law Jared Kushner, who are both senior White House aides, threatened to sue a group of anti-Trump Republicans for posting ads on a billboard in Times Square, the heart of New York City, linking them to 225,000 deaths. Because of the Corona virus in the country. And the attorney Mark Kasowitz, who represents Ivanka and Kushner, addressed this threat in a letter to Project Lincoln, describing the ads as "false, malicious and defamatory." He added that it constitutes "outrageous and shameful defamation." "If these billboards are not removed immediately, we will sue you for that, which will undoubtedly cost you huge damages and punitive damages," Kasowitz said in his message, which Project Lincoln posted on Twitter. But Project Lincoln responded in a statement with separate posts: "Crazy! ... billboards will remain in place." (Reuters)

Iraqi officials refuse to disclose their accounts ... and a warning against stopping their salaries Baghdad Aktham Saifuddin October 24, 2020 MPs and ministers refuse to disclose their money (Getty) The Iraqi Commission of Integrity , the highest "independent" oversight authority, announced that legal measures have been taken to stop the salaries of dozens of ministers and deputies who refrain from disclosing their financial assets, indicating other measures in the event of rejection. While officials confirmed that the abstainers are afraid to reveal the amount of huge funds they had during the years of their public office, which would cause them to be convicted of corruption in the event of real disclosure. According to one of the sources of Al-Araby Al-Jadeed, the file of corruption is one of the most complex thorny files in Iraq, as the bodies that manage corruption have great power and influence, especially as they are linked to large parties and unruly militias. Many representatives and officials refuse to cooperate with the supervisory authorities, including the Integrity Commission, despite the fact that the Commission’s law binds presidents, ministers, parliament, ministers, deputies and officials, the head of the Supreme Judicial Council, judges and members of the public prosecution, the head and members of the Federal Supreme Court, in cooperation with the Commission and disclosing their liabilities. Financial. And the Throughout the previous years, many officials declined to disclose their liabilities and circumvented the authority. According to the director of the prevention department in the authority, Moataz Al-Abbasi, "The three presidencies and all the ministers submitted their financial receivables, with the exception of the ministers of finance and communications," indicating in a statement to the official Al-Sabah newspaper, And we have formally requested to stop paying their salaries, unless their debts are revealed. " He stressed, "In the event that the abstention continues, the Integrity Commission will take more severe measures, foremost among which is the opening of criminal cases against them." The Integrity Commission, through financial disclosure of state officials, works to monitor illicit gain, in order to protect public funds from plunder and corruption. An official in the commission said that more than 25 deputies evaded the financial disclosure and did not answer the commission’s inquiries, indicating to Al-Araby Al-Jadeed that “most of these representatives are from influential blocs, and they are among the representatives who won membership in Parliament for more than one parliamentary session.” He pointed out that "they are exerting pressure and attempts to procrastinate the issue of disclosure of their receivables," indicating that "there is information confirming that these people have large sums of money and large companies, and that their parties and the blocs they belong to support the procrastination of their files and pressure the commission to prevent the disclosure of their liabilities." He stressed, "The Commission has issued lists of their names, and that it will reveal them in the event that they do not respond to the disclosure request." A member of the Parliamentary Legal Committee, Gal Cougar, downplayed the importance of the measures that the Integrity Commission is talking about and the possibility of their implementation, and told Al-Araby Al-Jadeed that “the lack of disclosure of the receivables raises question marks regarding the reasons for abstinence, especially since political money has become a fundamental issue. He is ranked among the most dangerous countries in the world with money laundering, and the largest part of those involved participate in the political process, and they have the largest share of corruption. There is no law that allows any official to refrain from disclosing his financial assets.

Depending on the the brand here in Arizona, it already is. [ 5 years ago up in the Bakken Oil Field in North Dakota, it was that and more. Of course they saw big money when the BOOM hit and all us Oil workers showed up.] The whole world is in world of Shyte. Its full of agenda driven Tyrants, Dictators and fervently passionate sycophants to their favorite political " ism" . . . the shots are being called by the insanely powerful, wealthy that own the UN, WB, IMF - it's a global Cabal. The masses don't recognize they're being manipulated. Table is tilted and the game is rigged. The masses are asses and doing their Masters bidding. The " Game " is being played out brilliantly Who knew the movie " Idiocracy " would turn out to be a 21st Century Documentary.

Well said huffy2005 I'm sick of it... call it like I see it. The Hate Everything America party, bunch of butt hurt folks, soon to be!! No it not a Typo. So for the 3rd time Where Are You From?