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False. Show us where it states the nation of Iraq uses the same method as the UK.
With a link.
You are only stating opinion and nothing more.
Fact: The current M0 of Iraq is not listed on the CBI data sets.
Link of proof: http://www.cbi.iq/documents/financial_statement2008_f.pdf
CBI denies lifting of the zeroes of the Iraqi currency
Conscious / Office of Karbala / T.. A
13/3/2010 7:46pm
Deputy central bank governor denies lifting of the zeroes of the Iraqi currency
Denied, deputy governor of Central Bank of Iraq Ahmed Bureihi a formal decision about deleting three zeros from the Iraqi currency has also picked up some of the media.
The Bureihi a seminar held by the University of Karbala today and was attended by correspondent (News Agency, Iraqi Information / conscious) that ...
~"the CBI has so far not issued any formal decision to delete the three zeroes of the Iraqi currency traded in the markets,
he did not start until the law to delete the zeros," adding that
"the issuance of such a decision on how the political process and the country's administrative.
As well as the request to the operations of Contracts and contracting, which is still not completed its consequent processes of paying money to the companies that started its work since ...
~the contracts were signed according to some of them on the basis of the Iraqi currency,
"adding that" what some media about the deletion of zeros untrue. "
http://translate.googleusercontent.com/translate_c?
hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/mhafadat/58382.html&rurl=translate.google.com&twu=1&usg=ALkJrhhGNl_tUZzcr3UkWUXskz-8DwNhBA
http://articlesofinterest-kelley.blogspot.com/2010/03/deputy-central-bank-governor-denies.html
One more time...the M0 is NOT listed!
“currency outside of banks" is M1
and M1 includes ASSETS!
M0 is not listed!
You CANNOT assign your own labels to the data sets!
I am not claiming that I know something about the true amount of M0 and that I am right....what I am saying is that NO ONE outside of a few in the CBI the IMF and the World Bank know the true current M0 of Iraq. (because it is not being reported)
Again I am not trying to say I am right and you are wrong...I am saying we do not know and that I think is by design.
Thats all.
True but Iraq is not the UK. You will see in my post below that Iraq has M0 data on their older accounting reoports.
This was marked clearly as M0.
From 2007 on the line where the M0 was reported is now a blank line.
No LOLing is just finding something funny.
And what I find funny is people who take the liberty to assign their own lables to the CBI data sets.
All CBI data sets are clearly marked.
And the M0 data sets are not reported.
You cannot claim anything or assume anything because you wish it to be so.
Facts are facts.
The current M0 data set is not being reported.
Now in the past (2003 to 2007)the M0 data sets were reported by the CBI and can still be found on the historical section of the CBI. and are clearly listed as M0.
AFTER 2007 they stopped the reporting of the M0.
You will even notice that they have a blank line under the M1 data set and that blank line is where the missing M0 data should go.
This is about the time they began to remove currency from circulation and IMHO the removal of the true and current M0 data from the CBI reporting has been done to mask the massive amount of currency that they have removed from circulation.
IMHO
But the missing and non reported M0 data is not IMHO but can clearly be seen as fact.
Betting on bonds: Iraq vs California
March 24, 2010
I have never considered the relative merits of an Iraqi bond versus a California state bond, but this short excerpt from a good piece in the Boston Globe takes care of that need for me. The piece is about two intrepid buyers of really scary emerging markets bonds from places like Venezuela, Dubai, Pakistan and Iraq. The comments about California and Iraq really got my attention [emphasis added] :
Michael O'Hanlon, who tracks indicators of progress for the Brookings Institution's Iraq Index, said that "Iraq has continued its remarkable trajectory of improvement.''
"It is still fairly violent by Mideast standards, but many countries in places like South America have higher overall levels of violence now from crime,''he said.
Traditional Wall Street investors have taken note. Iraq is now considered a safer bet than Argentina, Venezuela, Pakistan, and Dubai - and is nearly on par with the State of California, according to Bloomberg statistics on credit default swaps, which are considered a raw indicator of default risk.
"Compared to California, I'd rather bet on Iraq,'' [Emerging market bond investor Saleh] Daher said. "Iraq is a country where there are still bombs going off and people getting murdered, but they are less indebted than the United States. California is likely to have more demands on its resources, and there is no miracle where California is going to have more revenue coming out of the sky. Iraq has prospects for tremendously higher revenues, if they can manage to get their act halfway together, which they seem to be doing.''...
Not a lot to add here as we watch California demonstrate how to turn gold into lead.
http://blogs.marketwatch.com/fundmas...vs-california/
Explanation of M values.
M0 – Physical cash and coin
M1 – All of M0 plus demand deposits, traveler’s checks and ASSETS that can be quickly converted.
This is used as a measurement for economists trying to quantify the amount of money in circulation. The M1 is a very liquid measure of the money supply, as it contains cash and assets that can quickly be converted to currency.
Assets. 1. Current assets are important to businesses because they are the assets that are used to fund day-to-day operations and pay ongoing expenses. Depending on the nature of the business, current assets can range from barrels of crude oil, to baked goods, to foreign currency.
M2 – All of M1 plus savings deposits, money market shares
A category within the money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds.
LOL..no M0. Only M0 is physical currency.
Currency outside of banks is being reported as M1 and M1 is currency and ASSETS.
ONLY M0 is physical currency and the current M0 is not reported anywhere.
The current M0 is not reported. eom
That would be M1 and not M0 eom.
I-Hub Admin has been deleating post...next will be bannings if the personal attacks do not stop.
Everyone has a right to voice your view as long as that view is not a personal attack or threat on someone else.
If you think it will lop...fine...if you think it will RV fine.
Blatant libel not fine.
Stay on topic and take personal issues to pm or e-mail.
ema-266
Wrong. There are many banks right now who buy and sell IQD.
GCC single currency timetable launch soon
March 30th launch.
A timetable for when a single Gulf currency will be launched as well as a decision on which currency, or basket of currencies it will be pegged to, will be made at a meeting in Riyadh on March 30, Kuwait’s central bank governor said yesterday.
At the March 30 meeting “plans will be designed and a time frame finalised for the financial infrastructure required to launch a single currency and for the(establishment) of the Gulf central bank,” Shaikh Salem Abdul Aziz al-Sabah told reporters at a press conference.
When asked if the Gulf single currency could be pegged to the US dollar, al-Sabah said: “I don’t know.”
Saudi Arabia’s central bank governor said in March 2009 that the single currency could initially be pegged to the dollar and then allowed to float.
Saudi Arabia, Kuwait, Qatar and Bahrain are forging ahead with plans for a monetary union after the UAE and Oman opted out of the plans.
The UAE dropped out last year after it was decided that the union’s central bank will be based in Riyadh, the Saudi capital.
Economists argue that the Gulf monetary union needs to establish monetary independence for member states, all of which are pegged to the US dollar, except Kuwait.
Zawya Dow Jones
http://articlesofinterest-kelley.blogspot.com/2010/03/march-30th-decision-gcc-single-currency.html
March 25, 2010
Talabani, Maliki discuss uniting the efforts of political forces to form a coalition
Three blocs agree to renew the mandate of the President of the Republic
????? - ?????? BAGHDAD - morning
Accelerated the pace of political yesterday to discuss the issue of alliances to form a new government, two days before the announcement of preliminary results of the ballot, at a time agreed by the three blocks of the President to renew the mandate of President Jalal Talabani
Maaalnh according to the "morning" Baqir Jabr Zubaidi, a leader of the National Coalition. On the first day of the President's return to Baghdad, which yielded separate meetings conversations with President Talabani, Prime Minister Nuri al-Maliki and President of the Supreme Islamic al-Hakim yesterday evening, to agree on the importance of unifying efforts political actors to provide the groundwork for the next stage.
The meeting Talabani - Maliki, a continuation of the intensive interviews conducted by the President of the Republic in the Kurdistan region with leaders and representatives of political powers on the part of the ongoing consultations between the blocs in Baghdad, on the other. and according to a presidential statement received "morning," a copy him, the Talabani received at his residence in Baghdad yesterday, al-Maliki, as the two sides discussed the issue of uniting the efforts of actors in the political arena and efforts to provide the proper ground that will underpin the next phase the requirements to accomplish the tasks the National High that would renew the spirit of the ongoing political process.
In a press statement issued after the meeting, President Talabani said he was discussing the situation in the country in general, saying: "We fought together as allies against the old dictatorship to democratic and federal Iraq united and independent, and will continue the common struggle to prevent terrorist threats and conspiracy against Iraq."
The President of the Republic "Our efforts will continue for the new government coalition."
For his part, Prime Minister: that he had discussed with President Talabani all turning points and stations facing the political process and state-building process and the construction of the Constitution, asserting that "our meetings always start from the full compatibility and ending in full agreement in all the common issues that are not the result of the day with us in this partnership, but is a historic partnership between the parties.
Maliki pointed out that the conversation was focused on the stage of labor with the country for the birth of a new government, parliament and spiritual renewal of the political process, stressing that the meeting "as always, was the subject of an agreement and full understanding is reflected in a definite all allies who share our this concern in order to collect all the energy and others who stand with us in the process of building the state.
"In the meantime, examine the President of the Republic with the President of the Supreme Council of the Islamic al-Hakim was the political situation and developments in the electoral process and the next stage, particularly the question of forming a new government which they said they must be Government (national partnership).
They also stressed in a press statement after the meeting, the Kurdistan Alliance and continue to damage, the national efforts with the other winning lists for the good of Iraq. For his part, Bayan Jabr, Minister of Finance, a leader of the National Coalition told the delegates "morning," Tariq al-Araji, said that "coalition and a list of state law, in addition to the Kurdistan Alliance (which officially nominated), and all agreed to renew the mandate of President Jalal Talabani.
For its part, the leadership of the coalition of the rule of law Hassan Sinead, in a press statement that Jalal Talabani, has the ability to contain a lot of national crisis, a top candidate for the presidency He added that the past four years demonstrated its ability to bring the ranks of the national and restore national cohesion of many of the catch-and intersections.
In the meantime, the president of the Electoral Commission for elections Faraj al-Haidari said the election results will be announced on Friday, saying there was no change in the date of the announcement. Haidari said in a statement quoted by news agency Nina:
"There has been no change to the date of the announcement of the election results and the Independent Electoral Commission committed to the deadline set," adding that "The Commission has not received any Government claim and officially postpone the announcement of election results, noting at the same time that in the event the Commission has received such a request, it will have to take a position in a timely manner and according to the data and developments.
alsabah
http://articlesofinterest-kelley.blogspot.com/2010/03/talabani-maliki-discuss-uniting-efforts.html
Bobby from my DD I think we will see official announcments here in the US with complete and detailed instructions from the government of Iraq and the US Treasury.
IMHO
No bank will do this...there will be a time limit
You are so stuck on LOP.
There is no LOP...this will be a "novel event"
IMHO
Who in the heck would want lower denomonations instead of USD after the RV?
Of course I will take the USD.
Good luck trying to hold this after the RV.
You will have a time limit to exchange.
Be careful or you will be a bag holder.
fwiw
There has not yet been ANY official announcment.
But the info shared came from a bank and was shared in good faith.
So until we hear the official word nothing is set.
But I will say it fits with info I was told.
Go DINAR!~
Tunner61 question.
Just to be clear....when she said a "30-40 day window"
Did she give any more detail on this "window"?
If I am understaning you right she told you that there will be a 30 to 40 day long window that we would have to exchange the dinar and then this exchange time would be over (expired/closed)....am I correct?
Please let me know if I am in deed understanding correctly.
Just trying to keep the facts straight.
Thanks.
As of now no one knows....but we all will soon enough.
Please let us know if you hear of any changes.
Thanks.
Go local if you can. If Capital One told you they would exchange then that is fantastic!
Support your local banks and the banking system of the United States of American.
Pay all applicable taxes as advised by your professional tax consultant.
We will be posting bank exchange information in the I-Box above this board.
Please keep everyone posted.
Thanks.
Well I was told that the Government of Iraq was going to have a timeline to do the exchange of the larger bills (3 zero notes) and that after the deadline they would no longer be legal tender.
But that is just something I was told fwiw.
We will just have to see how this plays out but all of the rules and regs will be made public.
Go DINAR!~
Thanks Tunner. That 30-40 day exchange window fits what I was told months ago.
Go DINAR!~
He is saying that when they make the announcment of the RV it will go into effect world wide.
They will announce the RV and the calling in of the lower denominations world wide....all the countries of the world.
IMHO
IRS to Hire Thousands of Armed Tax Agents to Enforce Health Care Laws
March 23rd 2003
" the IRS will need to hire between 11,800 and 16,500 new agents to enforce the bill."
Top IRS officials have been working with Democrats on Capitol Hill to determine how the agency will enforce President Obama’s new health care law. Republican lawmakers estimate the legislation will require the hiring of many thousands of new tax enforcement agents.
While it’s still not known exactly how many will be hired, here’s what’s clear: Under the new law, the IRS is required to fine taxpayers thousands of dollars if they do not purchase health insurance. In order for the government to enforce compliance, tax authorities will need information, for the first time, about people’s health care. Collecting that data will require more IRS personnel.
Consider what has happened in Massachusetts, which passed a similar health care bill in 2006. To enforce the individual mandate, the state’s Department of Revenue asks filers what kind of insurance they have, as well as details like whether their “sincerely held religious beliefs” are moving them to petition for an exemption from the requirement.
The form also asks workers whether their employer gives them “affordable” coverage, forcing some employees to decide between tattling on their workplace and submitting false information to tax agents.
Critics have slammed the new federal mandate for its harsh consequences (failing to buy health insurance could land you in jail) and have raised constitutional questions about its legality. And they point to the Obama administration’s recent efforts to ramp up IRS audits, especially of small businesses, as evidence that the mandate is likely to prove more onerous than previously thought.
The Obama administration’s plan to increase audits is in line with a long-term agency goal of ending the “tax gap,” bureaucratese for the amount of uncollected taxes each year. In 2001, the IRS estimated the gap at around $300 billion.
Critics call the agency’s estimates dubious and fear the tax agency will overreach in its efforts under Obama, who launched a tax task force last year in part with the goal of collecting more revenue.
A July 2009 report from the agency says the IRS is going to “increase audit coverage and better target returns for examination” including focusing on Schedule C audits that often target small businesses and the self-employed.
The document also says tax agents will share details with state enforcement agencies to increase enforcement efficiency.
To examine more Americans’ tax filings
, Obama is proposing more money for the agency. His latest budget proposes “over $8 billion in the Internal Revenue Service’s enforcement and modernization programs” to support “significant new revenue-generating initiatives that will target critical areas of non-compliance.”
The administration’s plans are exacerbating concerns of some critics with the health care bill’s mandate, in part because it will require a veritable new army of enforcement agents.
A March 18 report from House Ways & Means Committee Republicans estimates the IRS will need to hire between 11,800 and 16,500 new agents to enforce the bill.
The report slams the bill’s “plans to grant massive new powers to the IRS, backed up by billions of dollars in additional taxpayer fund for the hiring of thousands of new IRS agents, examiners, and other personnel.”
AND REMEMBER ...
Exclusive: IRS hires "hundreds" for New Wealth Unit
Friday Dec 11, 2009
IRS high-wealth unit to focus on business entities
WASHINGTON (AFP) - A new Internal Revenue Service unit set up to catch rich tax cheats hiding their wealth in complex business entities is rapidly taking shape with the hiring of hundreds of employees.
The IRS high wealth unit, part of a broader effort to combat international tax evasion, is focusing on "the entire web of business entities controlled by a high wealth individual," IRS Commissioner Doug Shulman told a tax conference this week.
Another IRS official told reporters "hundreds" of people have already been hired to staff the new unit, including some from within the agency.
"We have drawn top talent within the IRS that have expertise involving wealthy individuals as well as examination of their related entities," said Mae Lew, an IRS special counsel.
The high-wealth unit is focusing on trusts, real estate investments, privately held companies and other business entities controlled by rich individuals.
While use of sophisticated legal structures can be legal, in other instances they "mask aggressive tax strategies," Shulman said.
Tax authorities in Japan, Germany and the UK have also created similar units.
The U.S. House of Representatives on Thursday approved a $387 million boost for the IRS for the fiscal year that started October 1, in part to fund the high-wealth unit.
The Senate is expected to vote on the measure on Sunday.
NEW GLOBAL FOCUS, JOINT CORPORATE AUDITS
The IRS is also opening new criminal offices in Beijing, Panama City and Sydney to focus on funds flowing out of Europe and into Asia, in part because of a heightened focus on international enforcement in Europe.
The goal is to get those up and running during this fiscal year, which ends September 30, according to Barry Shott, IRS deputy commissioner for international issues for large and midsized business.
At the center of the agency's offshore effort is its legal cases against Swiss banking giant UBS AG. UBS agreed to turn over nearly 5,000 names of individual American clients and paid $780 million to settle a criminal case for aiding tax evasion.
The IRS has also begun initial steps to join forces with other governments to scrutinize corporate tax
filings to prevent "tax arbitrage" by companies seeking the best regime.
President Barack Obama has proposed tightening tax rules for U.S. multinationals, including one in which companies delay paying taxes on income earned offshore, a legal practice known as deferral that officials say is abused.
Some tax practitioners expressed worry about such coordination.
"With any new thing, you never want to be the guinea pig," Mary Lou Fahey, general counsel for the Tax Executive Institute, comprised of business executives, said.
Shott said a likely scenario will likely be two countries getting together and decide to examine a narrow issue. In the beginning it will operate like a pilot program where the corporation examined would agree to take part.
"With rare exception ... the taxpayer will absolutely know they are subject to a simultaneous examination," Shott said.
Still, he said there could be cases where the audit needs to be kept quiet, such as when a criminal probe is ongoing.
Initial partners would likely include Canada, the UK and Australia, Shott said.
http://www.reuters.com/article/idUSTRE5BA45320091211
Exclusive: IRS hires "hundreds" for New Wealth Unit
http://articlesofinterest-kelley.blo...armed-tax.html
Agree 100% Chas. eom.
I would like to add this is why the M0 is hidden from public view.
You see IF they were to post the current data on the true M0 for Iraq people would be able to see the drastic on going reduction of the M0 (physical currency) from circulation as they have been removing these 3 zero notes over the past few months.
This also explains many of the high numbers in the currency auctions I might add.
This would have been too obvious to the major speculators and to prevent even MORE speculation than they have at this time the M0 data had to be hidden.
IMHO
Sounded very positive to me...and fits right in with Sabbibi's interview where he said they had been removing currency from circulation and were continuing to do so.
That is the "removal of the 3 zeros"
Very "novel" solution for a "novel" situation.
Very, very , very positive.
Go DINAR!~
Correct No LOP. They are 50% done and that fits in with what I have seen with my DD.
They are removing the 3 zero notes from circulation.
They have been working on this quietly as stated in the article and are now over 50% done with the removal of the 3 zero notes from circulation.
Now they cannot remove them all before doing this so at some point before they have a serious liquidity problem they must announce the RV and place the new currency "the lower denominations" into circulation.
Very nice...and very "novel" if I do say so myself.
GO DINAR!~
That would be because of the pending RV IMHO.
Can you imagine the problems if the IQD RVed to 1-$1+ and they had packages out there in the mail with millions of IQD in them? LOL!
Good day to be a mail man!
LOL!
So far no UNSC meeting is listed but there are huge meetings at the UN tomorrow.
Iraq vote results due March 26: election commission
Khaleej Times -
The final results from Iraq’s March 7 parliamentary polls will be published on March 26, the spokesman for the country’s election commission said on Sunday.
“Next Friday, we will announce the final results at the Rasheed hotel at 7:00 pm (1600 GMT),” Qassim al-Abboudi said at a press conference at the Independent High Electoral Commission’s (IHEC) data entry centre in Baghdad’s Green Zone.
Election results were initially expected around March 18, with final results—after all complaints were resolved—likely at the end of the month.
No it is not listed. The M0 is not listed on that PDF
All that is on page 31 is data for the "Broad money"
"Broad money" is M2
They say currency ouside of banks but M1 is currency outside of banks and M1 includes assets.
So still....no current M0 data to be found.
And that is by design.
UNSC Tuesday the 23rd
PROGRAMME OF MEETINGS AND AGENDA
SCHEDULED MEETINGS
Tuesday, 23 March 2010
No Council meetings are scheduled.
No consultations of the whole are scheduled
http://www.un.org/Docs/sc/unsc_dailyprogramme.html
From December 2003, eom
Currency outside banks is listed as M1.
M1 is a combination of hard currency and ASSETS which can be converted quickly.
Now M1 is also seen as a "narrow money data set" but because the assets are also included the M1 cannot be used to detremine the true amount of physical currency in circulation.
M1 = Currency outside of banks plus assets.
M0 = Total true amount of physical currency.
With Iraq the M3 is known and listed
The M2 is known and listed.
The M1 is known and listed.
The M0 is known by the IMF and the CBI but remains unlisted.
Yes that would fit right in with the reduction of currency.
and you have to admit....2.6 trillion is well within reason,
Patience is key. eom
RICK! LOL! No nation in the world would put that info out in the news! Take a look at China...EVERYONE knows they are going to revalue but not only does China NOT say they will revalue, they put stuff out every few days to say they will NOT!
Remember: Absence of evidence is NOT evidence of absence!
Exacting due diligence was a must for this one.
I have never seen so much information scrubbed from the Internet.
There are things I read early on that I did not save and not long after they were gone from the net and some was even changed.
They have from the very start done their absolute best to hide what is about to happen.
Hang in there....
Novel Event coming up.
Go DINAR!~