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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The central bank will not lend money to the government, update the subject of the deletion of zeros

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    • Post n°1

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by Neno Fri 28 Nov 2014, 7:19 pm

    The central bank will not lend money to the government, update the subject of the deletion of zeros

      November 28, 2014

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    Long-Presse / Baghdad


    The Iraqi Central Bank,sressed on Friday, a drop in oil prices “would not be” a reason for the government to borrow from the bank, pointing to the existence of the law “does not allow” the government to borrow from its reserves, among a growth of foreign reserve resources (the dollar) has consisted of increased prices and quantities sold oil by “government,” which, among it the subject of the deletion of zeros from the currency.

    The central bank said in the answers to a private response to questions (range Press) that “the decline in oil prices will not be a reason or motive for the government to borrow from the central bank,” attributing the cause to be “the Central Bank Law No. 56 of 2004 Article (26) does not allow the government borrowing from the central bank reserves, because the ability to exchange in the budget exceeds the ability to achieve the resources as well as the bank’s reserves earmarked for economic stability, “stressing that” the growing tide of achieving resources from non-resources mean generation version critical new inflation borne by future fiscal years without justification.”

    The bank added that “countries with economies dependent on oil, such as Iraq, the net foreign assets of any foreign currency derived from the sale of oil is a mainstay cash basis it because they rely on oil to finance its spending dramatically.”

    The bank added that “the Iraqi government, specifically the Ministry of Finance are replacing foreign currency (dollar) that you earn from the sale of oil with the Central Bank of Iraq for the local currency (the dinar), to be able to cover internal expenses, so the foreign reserve resources growth (dollar) when The government consists of increasing the prices and quantities of oil sold.”

    The bank said that “this will enable continuously available from barter with the central bank for the local currency (the dinar), in quantities that you need, but with the drop in oil prices, the oil revenues certainly would be affected would be reflected on the low cash reserves at the central bank.”

    On the other hand, stressed the Central Bank of Iraq, that “the subject of deletion of zeros from the currency has been postponed for the time being.”

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    • Post n°2

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by mochasmom Fri 28 Nov 2014, 7:33 pm

    Say it isnt so!!!
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    • Post n°3

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by weslin3 Fri 28 Nov 2014, 8:30 pm

    On the other hand, stressed the Central Bank of Iraq, that “the subject of deletion of zeros from the currency has been postponed for the time being.”


    Had read this today and thought about posting it and then I thought no.....Don't like it. Maybe whoever wrote this is full of  baloney.
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    • Post n°4

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by wciappetta Fri 28 Nov 2014, 8:48 pm

    Funny how this happens, the report above is leaving out an important part that goes to show the timing this  report was written, I saw it earlier  I missed myself until my buddy pointed it out. Notice the missing paragraph below that follows the last sentence of the above report. I have to believe someone left it out on purpose:

    Central bank will not lend money to the government and us, the subject of the deletion of zeros




    Long-Presse / Baghdad
    Stressed the Iraqi Central Bank, on Friday, a n drop in oil prices "would not be" a reason for the government to borrow from the bank, pointing to the existence of the law "does not allow" the government to borrow from its reserves, among a the growth of foreign reserve resources (the dollar) has consisted of increase the prices and quantities sold oil-run "government," which, among it for the subject of the deletion of zeros from the currency.

    The central bank said in the answers to a private response to questions (range Press) that "the decline in oil prices will not be a reason or motive for the government to borrow from the central bank," attributing the cause to be "the Central Bank Law No. 56 of 2004 with Article (26) does not allow the government borrowing from the central bank reserves, because the ability to exchange in the budget exceeds the ability to achieve the resources as well as the bank's reserves earmarked for economic stability, "stressing that" the growing tide of achieving resources from non-resources mean generation version critical new inflation borne by future fiscal years without justification. "

    He added that the bank "countries whose economy depends on oil, such as Iraq, the net foreign assets of any foreign currency derived from the sale of oil is a mainstay with the cash basis because it depends on oil to finance its spending and dramatically."
    The bank added that "the Iraqi government, specifically the Ministry of Finance are replacing foreign currency (dollar) that you earn from the sale of oil with the Central Bank of Iraq for the local currency (the dinar), to be able to cover internal expenses, so the foreign reserve resources growth (dollar) when The government consists of increasing the prices and quantities of oil sold.
     "
    The bank said that "this will enable and continuously available from barter with the central bank for the local currency (the dinar), and in quantities that you need, but with the drop in oil prices, the oil revenues certainly would be affected would be reflected on the low cash reserves at the central bank."

    On the other hand, stressed the Central Bank of Iraq, that "the subject of the deletion of zeros from the currency has been postponed for the time being."


    This is the missing part:

    The Oil Ministry has approved in the (18 October 2014) that the government has not yet determined the price of a barrel of crude to be adopted as a basis for the preparation of the budget next in 2015, indicating that efforts are currently ongoing in coordination with OPEC members, to determine the estimated taking into account the challenges and fluctuations in world prices and spare the economy National any negative impact, while experts called to the need to find alternatives to support the local economy and the adoption of the austerity policy and an end to disputes with the Kurdistan region of re-exports from the northern fields.



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    This report was written before the price of a barrel of oil was established for the 2015 budget, which we know now that has happened... You can't have the revalue without this budget passing which is why the guy mentioned it was postponed for the time being. Now the dynamics have changed...We now return you to your regularly scheduled programming still in progress...


    Last edited by wciappetta on Fri 28 Nov 2014, 8:57 pm; edited 1 time in total
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    • Post n°5

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by weslin3 Fri 28 Nov 2014, 8:54 pm

    Oh love you ward.... That is a big relief to find this.... Mocha.... did you see this?
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    • Post n°6

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by wciappetta Fri 28 Nov 2014, 8:59 pm

    Don't thank me I missed it earlier...


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    • Post n°7

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by Neno Fri 28 Nov 2014, 11:06 pm

    Lol, can you believe how many sites have posted this with out the knowledge wciappetta just laid out. Kool for us but to funny in reality. I was looking for news and this was on every site with out the original to find. Once I found it my translator wasn't working so, we got the same crap. Why links need to be always posted when sharing news so the likes of wciappetta that take the time to research when not sounding right.
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    • Post n°8

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by duck2000 Sat 29 Nov 2014, 5:27 am

    and has a great backup!! tongue
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    • Post n°9

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by wciappetta Sat 29 Nov 2014, 5:36 am

    indeed


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    • Post n°10

    The central bank will not lend money to the government, update the subject of the deletion of zeros Empty Re: The central bank will not lend money to the government, update the subject of the deletion of zeros

    Post by mochasmom Sat 29 Nov 2014, 8:14 am

    Thanks Ward
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