Kaperoni Chat From 6-3-12

[DinarThug]

CNN. Broadcasting While Rapping With BondLady's Mic And Completely Oblivious To The Fact That She's Standing Right Behind Me .....

Why is the currency reform is so important to Iraq?….Kap looks at the CBI, WTO and reasons why… 6/3/2012

In recent days we have seen numerious articles from the CBI about how “all prepartations are done” and that they want to the GOI and Council of Ministers to come onboard and support the CBIs plan.

We are starting the see the tremendous burdon on Dr. Shabibi to take the dinar to an “international” level. That without his monetary reform, there is no WTO, no free market economy and limited economic improvement.

The following quotes are from the WTO Handbook on accession.

http://www.wto.org/english/thewto_e/acc_e/cbt_course_e/c5s2p2_e.htm

“Applicants need to describe how their exchange rate is determined, whether their currency is convertible, whether foreign exchange is freely available for trade and payments purposes, whether any regulations exist relating to the retention of foreign currencies, or repatriation or surrender requirements. Applicants should also describe their balance of payments situation.”

“While foreign exchange questions are within the jurisdiction of the IMF and trade policy questions within the competence of the WTO,128 foreign exchange questions and trade policy questions are interrelated. Of most direct relevance to the WTO is whether foreign exchange is freely available in payment for current account transactions, as exporters need to know how they will be paid.”

“Working Parties have been careful to respect the competence of the IMF. While Members have demonstrated an interest in obtaining adequate information on all matters dealt with in this section, they have laid stress on issues of direct relevance to international trade. They have, for instance, focussed on knowing whether applicants are members of the IMF and whether they have accepted Article VIII of its Articles of Agreement which provides that “no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions”.

“All Working Party Reports but one have been able to note, that the acceding government concerned is a member of the IMF and has accepted its Article VIII obligations.”

Looking at the WTO accession articles also, we can see some great facts…These quotes come from a few articles that were found over the past few years…

http://dinaralert.webs.com/apps/forums/topics/show/7751348-deputy-iraq-has-made-several-obstacles-away-from-the-world-trade-market

“The winner (of the Agency news): The Iraq’s accession to the WTO needs to stabilize the economic and political in the country, noting there are constraints have made Iraq away from her Ktzbzb the local currency against hard currencies as well as the lack of resolution of the project to delete the three zeroes from the currency.”

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Falmadapaper.net%2Fnews.php%3Faction%3Dview%26id%3D66420

“The WTO is made up of a coalition of countries, a global advanced in all fields of economic Kalsnaaah, agricultural, commercial, and the accession of Iraq to gain him the experience of those countries to develop its economy, adding that it would allow Iraq to deal with these countries and cooperation among themselves .”

http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Fwww.alsabaah.com%2FArticleShow.aspx%3FID%3D26514

“The mayors of the country to hold a series of economic reforms that are imposed on countries wishing to enter into the membership of that organization as a condition for acceptance, including a comprehensive reform of the laws, customs, taxes and reform the system of banks and other economic laws, the other that can facilitate the process of accession to the WTO.”

http://www.iraq-businessnews.com/?p=2436

”The Iraqi committee gave its final results about the Iraqi acquisition of the membership in the World Trade,” The Economic Advisor in the Finance Ministry, Abdul Alim Kadhim, told The Independent National News Agency of Kurdistan (AK news)

“The Committee called for reducing the difference between the U.S. dollar and the Iraqi dinar, activate the role of the private sector, open the world markets in Iraq with customs on imported goods that commensurate with the economic laws applied in the country,” he added

Here are three more from my archives. I don’t have the orginal link..

The net that “the World Trade Organization were previously wary of government plans to support the Iraqi dinar, and elevate it to a value of U.S. dollar and the high differential cash between them,” he said, adding that “Iraq has a good capacity to support the Iraqi dinar, which is qualified to be a member of organization that will support the trade in the country in a clear and consolidates the efforts of the government in the development of trade in the country. ”

http://zzz.forum-motion.com/t12488-ministry-of-trade-bilateral-negotiations-to-join-the-world-trade-organization

————–

He said the main duties of the task force are reducing the difference of value between Iraqi Dinar and US dollar and activating Iraq’s private sector.

http://zzz.forum-motion.com/t11288-iraq-wants-to-join-wto-monday-september-13th-2010-1141-am

——————–

“The Committee’s main task is to seek to reduce the difference between the U.S. dollar and the Iraqi dinar, as well as activating the role of the private sector, commensurate with the efforts to develop the economy of the country.”

http://zzz.forum-motion.com/t11257-source-iraq-will-become-a-member-of-the-world-trade-organization-soon

——————-

“The Committee called for reducing the difference between the U.S. dollar and the Iraqi dinar, activate the role of the private sector, open the world markets in Iraq with customs on imported goods that commensurate with the economic laws applied in the country,” he added

http://zzz.forum-motion.com/t2441-iraq-needs-to-be-a-member-of-wto

So what we can take from this is that there will be no WTO for Iraq until they get the currency more in line with the USD and accept the conditions of Article VIII of the IMF Guidelines. The good news is that we don’t have to concern ourselves with WTO as the currency reform will come prior. These are big hurdles for the CBI, but clearly in recent days, we can now see there significance of why Dr. Shabibi wants to move forward now. In fact this recent article even mentions why…

Central Bank announced new steps that will raise the value of Iraqi dinar against the dollar. The deputy governor of the Bank Mazhar Mohammad Saleh said that “the central bank began to apply the new strategy will emerge where the equation is equal dinar and the dollar if it is available the appropriate atmosphere.”

“The new strategy will work to increase the capacity of the dinar as a step in the way of fixing the financial system and stimulate the economy, Iraq and then proceed to delete the zeros of the project out an equation in which the dinar is equal to the dollar.”

Saleh explained that “this requires the availability of several factors Kalnhod the agricultural sector, industrial and services sector and investment.”

He said “the current situation cause for optimism about the future of the economy and the value of the currency and its purchasing power.”

http://translate.google.com/translate?hl=en&prev=hp&rurl=translate.google.com&sl=ar&tl=en&u=http://alforattv.net/index.php%3Fshow%3Dnews%26action%3Dcat%26id%3D23

And this article not only confirms the rate, but confirms what the WTO called for over 2 years ago.

“Said the central bank to take new steps that will raise the value of Iraqi dinar against the dollar in the markets as a step in the way of reform of the financial system in Iraq and stimulate the economy, and move a project to delete the zeros of the exit equation equal to the Iraqi dinar with the dollar after the availability of factors Kalnhod the agricultural sector, industrial and services sector and investment .”

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.alfayhaa.tv/news/economy/82632.html&ei=yxLFT5f3D4mBgwfgzsH3CQ&sa=X&oi=translate&ct=result&resnum=10&ved=0CH8Q7gEwCTgU&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%26start%3D20%26hl%3Den%26lr%3D%26sa%3DN%26biw%3D1280%26bih%3D614%26tbs%3Dqdr:d%26prmd%3Dimvns

This article once again shows us the CBI is ready..In fact they say…”ready to begin”

He noted the benefit “if the Commission met at any time and any decision to proceed has decided to delete the zeros of work, we are ready to begin.” He stressed that “the deletion of zeros as a project and infrastructure and create the foundations of incomplete and concepts, which is different from issuing a new class of currency, with the consequent deletion of three ranks of calculation from the accounts of the Republic of Iraq starting from the family budget and ending the public budget of the State”. He cautioned that “such a project needs to be concerted efforts of both the central bank, parliament, government, and the approval of the last two on the project is important for its success.”

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.alaalem.com/index.php%3Faa%3Dnews%26id22%3D47589&ei=Fhi9T5PVCOOk6gHBorRW&sa=X&oi=translate&ct=result&resnum=5&ved=0CHkQ7gEwBA&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%2B%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbs%3Dqdr:d%26prmd%3Dimvns

And this final article quote shows us they are fully aware of the dangers of waiting on this project…

“This requires us to accelerate the implementation of the project to delete the zeros, before of evil consequences.”

http://translate.googleusercontent.com/translate_c?hl=en&langpair=ar|en&rurl=translate.go ogle.com&u=http://www.albayan.ae/economy/capital-markets/2012-05-29-1.1658612&usg=ALkJrhjb2RvcAbnnCirM9D8pgM9vLP7-

Now we see the crossroads Iraq is at. The significance of the currency reform and the reason for the aggressive timeframe. We are very close.

[zul]

Nice job Kap

TQ Thug

[Nadita]

Nice job Kap

TQ Thug

Zul

good to see ya apa kabar...?

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Thuggy,

Thanks for the news.. always enjoy your broadcast like I said, you are the Wolf Blitzer of DV

[zul]

Zul

good to see ya apa kabar...?

good to see u too Nadita. Saya kabar baik, Kamu..?

[Nadita]

good to see u too Nadita. Saya kabar baik, Kamu..?

Baik aja what's going on in your pad ?

[Maggie123]

Thuggy,

Thanks for the news.. always enjoy your broadcast like I said, you are the Wolf Blitzer of DV

Good Thing Wolves can run faster than Bondlady!

[umbertino]

good to see u too Nadita. Saya kabar baik, Kamu..?

Just curious .. What language is that... Malaysian, Indonesian or tagalog ( Philippines) ? Or what?... I love different languages.

[katie45]

Thanks Kap for putting together some factual information from all these different sources.

[blunter]

Just curious .. What language is that... Malaysian, Indonesian or tagalog ( Philippines) ? Or what?... I love different languages.

Its malaysian and indonesia, they are quite simillar fyi