lanispaul

April 6, 2010

Opening of the first center for the smart card to pay the salaries of retirees outside banks Monday, April 05, 2010 Opened in Baghdad, Sunday, the first center to provide the smart card, which contribute to the payment of pensions, the disabled and military outside the State-owned banks, where the Director, Bank of Iraq, the card will serve the citizen and reduce suffering, and they contributed in the detection of 71 thousand new cases over public money . The head of Bank of Iraq Abdul-Hussein al-Yasiri during the opening ceremony that the work with an electronic system began in mid-June of 2007, as has been done مليون و 250 thousand cards so far, indicating that the project is one of the important achievements of the Bank of Mesopotamia and the company smart card, because it will save effort on the citizen and reduce the long-suffering stand Btuaber receiving salary, allowing him to withdraw his dues even during the holidays. He explained that the system will Yasiri in the face of corruption, abuse of public funds, was discovered 71 thousand people receive more than one month salary and a lot of billions of dinars were going to the wrong people. I assure Yasiri, the card is used for 250 missions to deal with, including 83 process for financial, monetary and other functions for social purposes as is the secretary and a passport and personal identification and logistic purposes as well. LINK to pay the salaries of retirees outside banks Monday, April 05, 2010

OK, OK I read this on another site, just thought it was interesting. Should of followed up a bit more before posting it. SORRY! jeez

Matt Email to April 5, 2010

OK this is where it came from so everyone can follow it if they want. * Sky Post: zzz 4/4/10 (Allawi Wins Election Over Maliki) April 4, 2010

Im pretty new here so can you post the source or not?

April 4, 2010

I agree, 10% flat tax. Study after study has shown a 10% flat tax on EVERYONE would solve our debt problem.

Well according to the post from Economist RV Explanation Part I and II, it explains it a little different, the actual IQD will be destroyed and the VALUE will be placed in the Federal foreign currency reserve accounts: Economist RV Explanation Part I and II (1) IQD is released internationally with an exchange rate of $1 USD = 1 IQD (2) IQD is exchanged by Mr. & Mrs. X at Bank Y. Their exchange value is credited to their designated financial account, Bank Y forwards the IQD currency to the Federal Reserve and Bank Y’s account is credited at the bank private exchange rate. Yes, the banks will have a private rate and then they will add their profit spread to come up with their public rate. By law this bank spread could be as high as 8%, but it will be a competitive marketplace and the banks know investors will shop around. There is a possibility that there might even be a three rate structure (i.e. Treasury Rate – Bank Private Rate – Bank Public Rate) imposed, but he had no input on that subject. (3) The Federal Reserve adds the value of the exchanged IQD to their foreign currency reserve accounts and destroys the actual physical currency under agreement with the CBI, which serves to reduce the total IQD physical currency in circulation. This build up of the foreign currency reserve accounts serves to strengthen the USD in the marketplace, because heretofore the US has never held significant foreign currency reserves, because there wasn’t any country whose currency was perceived as being equal to or stronger than the USD. The IQD with it’s commodity (oil+others) base, potential for agriculture growth and aggressive private development growth, has the capability to become the most valuable currency in the world in the 10 years after it’s revaluation and approval as an internationally recognized currency. Other countries have lots of oil, but they can’t feed themselves, they operate under a monarchy or religious tribunal and they have no private development system in place. (4) Mr. & Mrs. X tithe to their church, local charity etc. which stimulates activity in that sector. They pay off their debts, making currency available for re-lending by their creditors. They buy a new house and car which stimulates their local economy and set up a conservative investment portfolio which adds capital to the investment markets. They also pay their estimated taxes which increases the cash flow to the US Treasury. (5) The Federal Reserve under a controlled redemption plan supervised by the IMF, will use it’s foreign currency reserve IQD account to buy oil for the national strategic reserve, DOD reserves, other country reserves as part of international support agreements or resell it to private oil companies etc. This gives the Federal Reserve a powerful market force capability to control the supply/price of imported oil which has far-reaching economic and national security implications. The economics of this scenario look like this, using the exchange of a 10,000 IQD Note with a two-tier 2% bank exchange spread as an example: (1) Mr. & Mrs. X get $9,800 credited to their non-interest bearing checking account. (2) Bank Y gets a $10,000 credit to its Federal Reserve account, and by adding the $200 profit to their capital account, allows them to increase their lending cap by $2,000 under the 10% fractional banking model. (3) The Treasury gets $3,500 in estimated taxes in the quarter after the exchange, because Mr. & Mrs. X are now in the “rich” category and get to enjoy the 35% tax bracket. This lowers the net cost of the IQD exchange to the US financial system to $6,500 USD (i.e. $10,000 out – $3,500 in). (4) The Fed’s designated agent, at some point, orders $10,000 worth of oil from Iraq. Payment will consist of a 10,000 transfer from the Fed’s foreign currency reserve IQD account to the IRAQ Oil payment account at the CBI. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take place in any internationally recognized currency agreed to by the parties. For example, Iran only accepts Yen from Japan for their oil orders, because they don’t want USD in their foreign currency reserves. (5) The $10,000 order is filled with 200 barrels of oil based on the spot price on the date of the sale (for this example we used a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? Well they have negotiated productions agreements for $1.50 USD/barrel. From that price $.50 USD goes to the national Iraqi oil company who is the partner in the field the oil came from. Out of the remaining $1.00 the other oil field partners have to pay the Iraq government a profit tax of $.35 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.65 USD. (i.e. $1.50 – .50 – .35) (6) The transaction is completed with the Federal Reserve exchanging foreign reserve credits which are equal to 10,000 IQD (which had a net acquisition cost of $6,500 USD) for 200 barrels of oil (which has a net cost to produce of $130 USD. Simply put, it cost Iraq $130 USD from their foreign currency reserve accounts to redeem the value of 10,000 IQD, which goes into their operating accounts. At the same time the US got $10,000 worth of oil for a net cost of $6,500. That’s how it was originally planned for Iraq to RV at 1 IQD = 1 USD, with the variable being the political element (i.e. UN Sanctions, GOI actions, IMF actions, World Bank actions etc.) Read more: http://dinarvets.com/forums/showthread.php?16551-Economist-RV-Explanation-Part-I-and-II#ixzz0jymujrsN

The Federal Reserve Wire Transmission run from 8am to 4 pm EST. So the Texas Office will run from 7am to 3 pm with not one Appointment schedualed after 2pm. This last hour is set-up for if, we are running behind to be able to get the list done for the day before the 3pm cut of of the Federal Reserve our Central time. So it is apparent that you understand to show up by your appointment time but no more than 15 minutes earlier. The actual transfer of funds will be coming from the Federal Reserve as stated in the above paragraph, "The Federal Reserve Wire Transmission run from 8am to 4 pm EST". Dinartrade will not front any money.

LOL I know exactly how it feels! After RV I am moving out of Arizona for sure!

I would also like more information on your company.

Thanks rob1, any chance of posting that whole article? MINISTER OF FINANCE EXCHANGE RATE 3/30/2010 !!! The Exchange Rate of Foreign Currency in Economic Feasibility Studies

if this is correct, 1 USD = 59236.00 IQD 1 USD = 59236.00 IQD 1 IQD = 0.00 USD

That article doesn't include the "Doctor Fix" as well as any other "Hidden Costs" - CBO confirms: ObamaCare with “doctor fix” will actually add billions to the deficit posted at 6:07 pm on March 19, 2010 by Allahpundit Share on Facebook | printer-friendly The exciting conclusion to yesterday’s post about what a shameless fraud the CBO numbers are. How do you slap a $940 billion pricetag on what’s actually a multitrillion-dollar bill? Well, as we’ve seen, the first thing you do is make sure not to start the program until almost halfway through CBO’s window of time for measuring how much it’ll cost. That cuts a trillion or two right off the top. But what if that still leaves you with budget deficits, thus crippling your sub-moronic talking point about how this massive new federal entitlement will save money over time? Simple. You break the bill up and pass one of the expensive parts separately later. Here’s how a supposed $118 billion reduction in the deficit becomes another case of Obama bloat: You asked about the total budgetary impact of enacting the reconciliation proposal (the amendment to H.R. 4872), the Senate-passed health bill (H.R. 3590), and the Medicare Physicians Payment Reform Act of 2009 (H.R. 3961). CBO estimates that enacting all three pieces of legislation would add $59 billion to budget deficits over the 2010–2019 period. Under current law, Medicare’s payment rates for physicians’ services will be reduced by about 21 percent in April 2010 and by an average of about 2 percent per year for the rest of the decade. H.R. 3961 would increase those payment rates by 1.2 percent in 2010 and would restructure the sustainable growth rate mechanism beginning in 2011. Those changes would result in significantly higher payment rates for physicians than those that would result under current law. CBO estimates that enacting H.R. 3961, by itself, would cost about $208 billion over the 2010–2019 period. (That estimate reflects the enactment of two short-term extension acts, which lowered the cost in 2010 by about $2 billion compared with CBO’s estimate of November 4, 2009.)… CBO estimates that enacting H.R. 3961 together with those two bills would add $59 billion to budget deficits over the 2010–2019 period. That amount is about $10 billion less than the figure that would result from summing the effects of enacting the bills separately. The $10 billion difference occurs primarily because H.R. 3590 and the reconciliation proposal would modify how the government’s payments to Medicare Advantage plans are set. Still waiting to find out that if that memo urging Democrats not to talk about “doc fix” is real or not, but you can see why it’s good advice either way. Not only are they hiding another $208 billion in costs, but their dishonesty in passing doc fix separately will cost another $10 bil that could be avoided by passing everything together. Except, of course, that trying to pass everything together would send “fiscally conservative” Democrats fleeing for the hills — not because they care about a trillion-plus pricetag, but because they care that you might care. Or maybe they don’t even care about that, given the way the votes are falling today. Add Suzanne Kosmas to the roll of the shame. More to come tonight, no doubt, in a very special edition of the Friday evening news dump. Update: Oh look, some more hidden costs discovered by CBO. Who’s up for another $50 billion on the hook just to administer this thing? In its March 11, 2010, cost estimate for H.R. 3590, the Patient Protection and Affordable Care Act (PPACA), as passed by the Senate, CBO indicated that it has identified at least $50 billion in specified and estimated authorizations of discretionary spending that might be involved in implementing that legislation. The authority to undertake such spending is not provided in H.R. 3590; it would require future action in appropriation bills. The attached table provides additional information about those authorizations. Discretionary costs under PPACA would arise from the effects of the legislation on several federal agencies and on a number of new and existing programs subject to future appropriation. Those discretionary costs fall into three general categories… Update: This is all contingent, of course, upon the Democrats actually passing doctor fix later. Oh, hey look — the AMA, which supports doc fix, just endorsed ObamaCare! Coincidencemania!