July 10th, 2014
Thursday Morning News Summaries
Central uses the electronic payment system for the settlement of the instruments between governmental institutions and banking
Hasn't Frank been talking about this very topic....that the CBI would be using the electronic payment system going forward....here is the start.....with governmental institutions and banking entities.....and more to come of course when they load the Q cards.....they are foretelling that this will be a safe and efficient method of banking....of note too is that many Iraqi banks are still in the process of catching up to internet business.....given time they will get there.
Indicators on the seriousness of the Iraqi dinar because of the security crisis and the government strongly reassure reservists
I firmly believe there must be a large number of people around the world that only read headlines and some of these are written purposefully to incite fear just from the title.....while many Iraqi's made the choice to remove their money from various banks at the outset of the security issues with ISIS....the dinar itself has essentially remained unphased by the crisis.....as has been repeatedly mentioned over the past few weeks the reserves that the CBI has can easily continue to support the exchange rate of the dinar against the dollar.
Iraqi provinces resorted to borrowing and lending and surpluses in 2013 to resolve the liquidity crisis
With no 2014 budget passed as yet, some provinces are facing liquidity issues and are seeing the failure of many projects as well....most provinces are now having to rely on budget surpluses from 2013 to meet their immediate needs, that is where they were able to hang onto those distributions or where they were received at all....some are relying on banks for low interest rate loans.....but where are the funds coming from the banks.....pass the budget needs to be the Iraqi's cry.....this lack of professional fortitude on the part of the politicians is having untold affect on all Iraqi's.
Banking expert describes the migration of foreign banks from Iraq to immigration erroneous
The actions being taken by some banks to remove themselves from the risk they see in Iraq at the moment are believed to be only temporary....these same banks see long term profits to be made in Iraq but at the moment are very skeptical of security within the country and are moving to higher and safer ground for the time being.
Paydays accumulated retirees Salahuddin
Retirees and pensioners can look to be paid back pay via the newly distributed Q cards.....the government is stating this will be a much safer way of doing business and much less hazardous than walking around with much cash in one's pocket.
Pay the salaries of state employees in Mosul
The state employees of the Ninevah province can be expected to be paid in the next few days.....they seem to hint about "easy mechanisms" to pay the employees, which makes me wonder if they intend to pay them via the Q card.....an interesting thought for sure.
Hillary Clinton: Kurds Were Rightly Concerned About Maliki
So now through all the dust and sand, Hillary comes out on Saturday and seems to be favoring the Kurds at this juncture.....in direct conflict with the current administrations feelings on things in Iraq.....odd to say the least.....then she makes a statement from out of left field...."the so-called ISIS group"......this woman does not believe there is such a group.....didn't see them as a problem during her tenure at State....and still talks in that light today....shaking my head.....no doubt the Kurds have much to fear in Maliki and his trust stock has tanked over the last four years with them.....at some point they may find themselves still having to deal with him....that should be decided soon I would think.
Iraqi Government Warns International Airlines to Stop Flights to Kurdistan
With these continued actions against the Kurdish region, Maliki is showing the Iraqi people and the world that he has no intention of changing and attempting to form a government of inclusion.....to so many this is unacceptable.....will he be his own firing squad in the very near future. He wants and does rule Iraq with an iron fist....but is the iron starting to show signs of rust....these latest accusations from him regarding the Kurds harboring ISIS and Baathist Sunni's is really creating a firestorm.
KRG Warns Iraqi Oil Buyers
Now we have the KRG warning their oil buyers.....do not pay revenues to Baghdad for our oil, pay the revenue to the KRG....they threaten legal action to protect what they see as their constitutional rights, and the fact they should be retaining full proceeds from all sales.
Minister Kurds withdraw from the cabinet in protest at Maliki's remarks against the hostile territory
This is the second or third day the Kurd ministers have been told to walk away from Parliament in response to Maliki's remarks about harboring hostiles in the Kurdish region....but wait for it....wait for it.....I know there is yet another change coming....just hold on.
Kurdistan Region: Maliki infected hysteria
Close but this isn't the article we are waiting for......now the Kurds are requesting and demanding that Maliki step down that he has lost his mind.....based on his claims of them harboring hostiles within the region......still we see the Parliament ministers saying they are walking out....meanwhile we hear Baghdad again talking of legal action against Erbil for the sale of oil on their own.....old news.
Follow Sarkhi suing al-Maliki to international courts for his crimes
An Arab religious authority within Iraq has filed suit against Maliki in international courts over the crimes he has allegedly committed against Iraqi citizens throughout Iraq.
Atomic energy: nuclear material seized by "Daash" in Mosul does not represent a threat
The nuclear material seized by the DAASH terrorists is believed to be of low-grade purity and not a significant risk from a safety or security standpoint nor from the direction of nuclear proliferation.....they aren't going to be making a nuclear device with it.
Ministers of the Kurds did not withdraw from the government
TA-DA.....yes here is the article that I knew was coming......they have not left Baghdad but merely are awaiting the formation of a new government....one that does not include Maliki.....I hope they aren't planning on holding their breath on that issue.....the jury is still out and I'm not so sure the large lady is evening warming up at this point....though Sunday is not far off.
Kirkuk: the reluctance of the pay (care) than the conditions of the population of the hot spots .. and difficulty maintaining experiencing a liquidity crisis
Kirkuk banks facing crisis.....depositors pulling money out of their bank accounts.....state employees still wait to be paid....but banks are also waiting....facing a financial crisis of their own....people wander from bank to bank but the message is the same.....we have no money today.
CBI Arabic Announcement Translated - Press Release
More noise by the CBI....no where does it say Q cards.....but what else would be considered a safe and efficient means for payment systems today in Iraq? Long time in coming.....let's hope it is not an equally long time in loading them up......many are waiting to get paid....projects are on hold at this moment.....so much can be revitalized within Iraq because of these cards and the MR process they represent.
Why Iraq Is More Stable Than You Think
Simply put here is one individual who has some doubts about what many see as certainties in Iraq's near future....the fall of Baghdad...this will be a hard fought battle if the terrorist and/or Sunni's succeed.....not a strong possibility at this point I agree....Maliki losing the PM position....yes for sure it could happen.....is it likely.....I don't think anyone really has a strong line on the final outcome and will not have that line in hand until the final bell of Parliament for when the announcement is made for the three main offices to be filled.....will I be shocked if M stays in power....NO....will I be shocked if he is kicked out....maybe......as for the Baghdad airport.....I think if it becomes a battle the US forces will get involved definitely from the air to hang onto the lifeline for getting their personnel out of Iraq.....oil at the moment is still not at risk with the one exception the refinery in the north that supplies Iraq with much of its refined petroleum products.....
everything else is still flowing well....now the issues with the Kurds.....Maliki's accusations over the past couple of days have done more to incite than foster good relations...
.that is maybe the biggest question....
what will the Kurds do....bigger than even M's stability....IMO.
News Summaries for Thursday Morning Randy