CONFERENCES, MEETINGS AND EVENTS FOR FEBRUARY AND MARCH 2010
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All Past and Current Articles are listed to the right side of this blog ...
Tuesday, February 9, 2010
CONFERENCES, MEETINGS AND EVENTS FOR FEBRUARY AND MARCH 2010
All Past and Current Articles are listed to the right side of this blog ...
Two Currencies Coexist Together and Gradual Replacement
February 10, 2010Two currencies coexist together and gradual replacement
Central Bank (time): Delete the zeros start end of the year
BAGHDAD - Ahmed Saleh Khyoun
CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.
Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).
Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).
In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).
Responding to another question about the Iraqi currency held abroad and how to replace it "(The right of a citizen is to remove the $ 200 thousand dinars and he could only replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).
http://www.azzaman.com/index.asp?fna...htm&storytitle=
In Depth Explanation about Iraq's Currency Redenomination and Exchangeability ...
Iraqi Currency Redenomination and Exchangeability
There have been a tremendous number of inquiries about the recent news that Iraq will be increasing the value of their currency and, at the same time, introduce new denominations into the Iraqi economy sometime in 2010 (currently planned).
Specifically, it has been reported that the Iraq Finance Minister issued a statement saying they have prepared a plan to increase the value of the dinar against the dollar and will introduce 25, 10, 5, 1, 1/2, ¼, and smaller (possibly 1/10 or 1/20) dinar banknotes and/or coins. He said that successful fiscal policies pursued in Iraq have contributed to increasing the value of theIraqi dinar against the dollar, noting that the U.S. Dollar dropped significantly in value during the current year. Of note, he also said in a press statement that the bank has been following with great interest the phenomenon of low demand for the U.S. Dollar in the local Iraqi currency exchange markets.
Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, said by the end of 2010, new banknotes will be fully introduced while the current banknotes will be gradually removed from circulation. He did not specify when the new banknotes would be issued. Both (current and new) denominations will be legal tender in Iraq until the current banknotes are completely withdrawn over a period of time.
Economic analyst Hilal al-Tahhan was quoted as saying “the bank's move is overdue.” He said he expects the currency change to go smoothly because of the decision to allow both the current and new banknotes to coexist during an extended exchange period, leading to less turbulence in the economy.
What does all this mean? Overall, this news appears to be very positive and possibly points to some significant changes in the value of the Iraqi Dinar. It has long been the opinion of many Iraqi Dinar investors that the Iraqi Government must introduce new lower denominations into their economy before the value of their currency increases. If the value (buying power) of the dinar increases significantly or rapidly, the largerdenominations currently in circulation would be impractical for use during everyday transactions in the Iraqi economy.
If the Iraqi Dinar increased in value to 10 cents (.1 USD), the smallest banknote in Iraqi would have a value of $5 USD. There would no practical way to purchase everyday items inthe economy and no way to make change---the currency would be impractical and unusable. If a soda in Iraq has a value of 50 cents now, it will still have a value of 50 cents if the value of the dinar increases---there has to be a denomination in the Iraq economy to pay for it. The current problem is that Iraq doesn’t have any currency in circulation to pay for normal day-to-day products if the dinar rises significantly in value---Iraq must have smallerdenominations moving forward.
Also from the recent news, it appears as though all denominations (current and soon to be issued) will be in circulation at the same time and no immediate exchange will be necessary. Hopefully, theIraqi Dinar will be on the world exchange market soon to allow for even easier exchange in the near future. Expectations are that Iraq is moving as fast as they can to rebuild their economy and wealth, and join the international economic community.
There have also been rumors about the future exchangeable value of some current Iraqi banknote denominations, and limited time periods for exchange of current Iraqi banknotes. It has been falsely rumored that perhaps the 25,000 dinar banknote will be exchanged at a different exchange rate than current smaller Iraqi banknotes. Another false rumor suggests there will be a very short period (days or weeks) of exchange for the current Iraqi banknotes after a significant change of value and introduction of lower denominations .
Well, to address these rumors, let’s look at currency from a basic level: Countries issue their own currency. They issue their currency with a responsibility to honor it and redeem it. The currency must be accounted for. When a country issues currency (the US as an example), they borrow against the currency and issue debt to support it. The US recently printed a significant amount of currency in order to finance stimulus funding. In order to do this, the US government had to borrow the money with an obligation to pay it back.
One of the main functions of the US Treasury Department is to manage the U.S. national debt (the amount of money which the federal government owes to its creditors). China owns much of our debt as do US citizens and other countries---we must honor our issued currency and our debt. If a country doesn’t honor its debt, creditors (other countries and investors) lose faith in the defaulting country and a country will end up in financial ruins. Iraq, as a responsible member of the world economic community with a goal of getting their currency online with the rest of the world currencies, has issued currency with an obligation to honor it----all of it---not just certaindenominations.
Throughout modern history, I can't think of one instance where a country honored some denominations , but not others---it doesn't make sense---people and other countries would lose faith in that country's responsibility to respect their debt and honor their issued currency---who would trade with them, exchange with them, or conduct business with them? To limit the time period for currency exchange in order to force the de-valuation of currency in circulation in order to reduce debt doesn't happen and wouldn't be tolerated by the world financial community. Countries have to be accountable for all of their currency and they can't play games with exchange timelines to try and prevent people for exchanging. Remember, in addition to individual investors, large governments and banks outside of Iraq hold Iraqi currency. Money from all over the world has flowed into Iraq through the purchase ofIraqi Dinar . The Iraqi Government will honor that investment in their economy, or there will never be faith in their economy and they will never be accepted by the world financial community.
DinarBanker.com owns a tremendous amount of Iraqi Dinar---we buy (any denominations) and sell our dinar. We see the introduction of the new lower denominations as a very positive sign. Furthermore, we expect to continue to trade the Iraqi Dinar no matter what happens to the value of it in the future. With our extremely large capitalization, we are prepared for any value changes in theIraqi Dinar and do not expect any exchange restrictions in the future or short time limits for exchange.
http://www.dinarbanker.com/informati...geability.html
Related article~
*** IRAQ PLANNING CURRENCY REDENOMINATION ...
There have been a tremendous number of inquiries about the recent news that Iraq will be increasing the value of their currency and, at the same time, introduce new denominations into the Iraqi economy sometime in 2010 (currently planned).
Specifically, it has been reported that the Iraq Finance Minister issued a statement saying they have prepared a plan to increase the value of the dinar against the dollar and will introduce 25, 10, 5, 1, 1/2, ¼, and smaller (possibly 1/10 or 1/20) dinar banknotes and/or coins. He said that successful fiscal policies pursued in Iraq have contributed to increasing the value of theIraqi dinar against the dollar, noting that the U.S. Dollar dropped significantly in value during the current year. Of note, he also said in a press statement that the bank has been following with great interest the phenomenon of low demand for the U.S. Dollar in the local Iraqi currency exchange markets.
Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, said by the end of 2010, new banknotes will be fully introduced while the current banknotes will be gradually removed from circulation. He did not specify when the new banknotes would be issued. Both (current and new) denominations will be legal tender in Iraq until the current banknotes are completely withdrawn over a period of time.
Economic analyst Hilal al-Tahhan was quoted as saying “the bank's move is overdue.” He said he expects the currency change to go smoothly because of the decision to allow both the current and new banknotes to coexist during an extended exchange period, leading to less turbulence in the economy.
What does all this mean? Overall, this news appears to be very positive and possibly points to some significant changes in the value of the Iraqi Dinar. It has long been the opinion of many Iraqi Dinar investors that the Iraqi Government must introduce new lower denominations into their economy before the value of their currency increases. If the value (buying power) of the dinar increases significantly or rapidly, the largerdenominations currently in circulation would be impractical for use during everyday transactions in the Iraqi economy.
If the Iraqi Dinar increased in value to 10 cents (.1 USD), the smallest banknote in Iraqi would have a value of $5 USD. There would no practical way to purchase everyday items inthe economy and no way to make change---the currency would be impractical and unusable. If a soda in Iraq has a value of 50 cents now, it will still have a value of 50 cents if the value of the dinar increases---there has to be a denomination in the Iraq economy to pay for it. The current problem is that Iraq doesn’t have any currency in circulation to pay for normal day-to-day products if the dinar rises significantly in value---Iraq must have smallerdenominations moving forward.
Also from the recent news, it appears as though all denominations (current and soon to be issued) will be in circulation at the same time and no immediate exchange will be necessary. Hopefully, theIraqi Dinar will be on the world exchange market soon to allow for even easier exchange in the near future. Expectations are that Iraq is moving as fast as they can to rebuild their economy and wealth, and join the international economic community.
There have also been rumors about the future exchangeable value of some current Iraqi banknote denominations, and limited time periods for exchange of current Iraqi banknotes. It has been falsely rumored that perhaps the 25,000 dinar banknote will be exchanged at a different exchange rate than current smaller Iraqi banknotes. Another false rumor suggests there will be a very short period (days or weeks) of exchange for the current Iraqi banknotes after a significant change of value and introduction of lower denominations .
Well, to address these rumors, let’s look at currency from a basic level: Countries issue their own currency. They issue their currency with a responsibility to honor it and redeem it. The currency must be accounted for. When a country issues currency (the US as an example), they borrow against the currency and issue debt to support it. The US recently printed a significant amount of currency in order to finance stimulus funding. In order to do this, the US government had to borrow the money with an obligation to pay it back.
One of the main functions of the US Treasury Department is to manage the U.S. national debt (the amount of money which the federal government owes to its creditors). China owns much of our debt as do US citizens and other countries---we must honor our issued currency and our debt. If a country doesn’t honor its debt, creditors (other countries and investors) lose faith in the defaulting country and a country will end up in financial ruins. Iraq, as a responsible member of the world economic community with a goal of getting their currency online with the rest of the world currencies, has issued currency with an obligation to honor it----all of it---not just certaindenominations.
Throughout modern history, I can't think of one instance where a country honored some denominations , but not others---it doesn't make sense---people and other countries would lose faith in that country's responsibility to respect their debt and honor their issued currency---who would trade with them, exchange with them, or conduct business with them? To limit the time period for currency exchange in order to force the de-valuation of currency in circulation in order to reduce debt doesn't happen and wouldn't be tolerated by the world financial community. Countries have to be accountable for all of their currency and they can't play games with exchange timelines to try and prevent people for exchanging. Remember, in addition to individual investors, large governments and banks outside of Iraq hold Iraqi currency. Money from all over the world has flowed into Iraq through the purchase ofIraqi Dinar . The Iraqi Government will honor that investment in their economy, or there will never be faith in their economy and they will never be accepted by the world financial community.
DinarBanker.com owns a tremendous amount of Iraqi Dinar---we buy (any denominations) and sell our dinar. We see the introduction of the new lower denominations as a very positive sign. Furthermore, we expect to continue to trade the Iraqi Dinar no matter what happens to the value of it in the future. With our extremely large capitalization, we are prepared for any value changes in theIraqi Dinar and do not expect any exchange restrictions in the future or short time limits for exchange.
http://www.dinarbanker.com/informati...geability.html
Related article~
*** IRAQ PLANNING CURRENCY REDENOMINATION ...
Iraqi Finance denies intention to delete the zeros of the national currency
February 9, 2010Iraqi Finance denies intention to delete the zeros of the national currency
Arbil, February 9 (AKnews) – U.S. Undersecretary of the Ministry of Finance and the Iraqi economy ... the ministry’s intention to delete the zeroes from the national currency of Iraq, adding that the Iraqi economy, do not complain about inflation, there is no need for the implementation of this strategy.
The Prophet told Fadel Kurdistan News (AKnews) that the process of deleting the zeroes of the Iraqi currency has no economic gain, and any positive impact on the purchasing power of the process of Iraq, but will also create other problems, to issue coins of small denominations such as” 10 money “and “50″ penny quarter of a dinar and a half dinars.
He explained that did not issue a formal decision on this matter, was not talking officially start work this fiscal policy to raise zeros from the Iraqi currency.”
He noted that “the only win for the deletion of zeros from the currency is issued in small groups only, either in terms of their purchasing power will remain the same as dollar against foreign currencies and the euro, and there will be any increase or improvement.
For his part, said the economist is capable Rizgar that “if the replacement of the Iraqi currency, Nabgy we work to maintain the stability of buying and selling rates of the Iraqi currency against foreign currency, for a limited period, so the process does not cause loss of citizens who deal in buying and selling foreign currency, often What is this period of six months.
He said the deletion of zeros does not help to increase the value of local currency, because the high value of the currency is linked to the security situation of the country, as well as the ability of local production and commercial activity and reduction of inflation rates in the country.
It is worth mentioning that the Central Bank of Iraq said in a statement issued on February 6 this year, announced a plan to delete the zeros of the Iraqi currency before the end of the year 2010, and has completed 50% of the preparations for the work according to this strategy. It is hoped to be completed this fiscal policy later this year.
http://translate.google.com/translate?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/2/112476&prev=_t&rurl=translate.google.com&twu=1
Paulson Tells Buffett Banks to Repay ‘Every Penny’
"So Warren, Do ya believe that one? I'm gettin good at this ... Did you hear the the part where I mentioned the government will turn a profit?
Paulson Tells Buffett Banks to Repay ‘Every Penny’
Feb. 9 (AFP)- Former Treasury Secretary Henry Paulson, responding to a question from billionaire Warren Buffett, said the U.S. government will be repaid in full for the funds it put into the country’s lenders.
“We will get every penny we put into the banks back” and turn a profit, Paulson said today at a meeting of the Greater Omaha Chamber in Omaha, Nebraska. “I think when you look at all the other programs, we may be surprised at what we get back.”
More than 700 U.S. banks, insurers and automakers applied to the U.S. for cash from the Treasury Department’s $700 billion Troubled Asset Relief Program. Borrowers including Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. have returned more than $180 billion in bailout funds, according to Bloomberg data, and the Obama administration has proposed a levy on financial firms to recoup the government’s costs.
Special Inspector General Neil Barofsky, the government watchdog monitoring the bailout, said last month that the entire TARP program, including the rescue of American International Group Inc., General Motors Co. and Chrysler Group LLC, will cost taxpayers less than previously predicted. An earlier Barofksy report to Congress said the final cost could be “substantial.”
Paulson in 2008 injected capital into banks in exchange for preferred shares paying 5 percent and warrants to buy common stock. He appeared on stage at a meeting of the chamber of commerce alongside Buffett, whose Berkshire Hathaway Inc. is based in Omaha. Buffett asked questions of Paulson about the events surrounding the government bailouts as the two promoted Paulson’s book, “On the Brink.”
“I think you’re right,” Buffett said when Paulson said the U.S. would recoup its investment. Buffett declined to comment after the event today.
President Barack Obama last month proposed a fee on as many as 50 financial companies to recover losses from TARP. The levy would apply to firms with more than $50 billion in assets, including Wells Fargo and Goldman Sachs Group Inc., two companies that Berkshire has investments in. Buffett has said he opposes the administration’s plan.
Buffett’s Suggestion
Paulson wrote in the book, which was published last week, that a proposal from Buffett helped him hone the bailout to make it palatable to investors. During a private phone call late on Oct. 11, 2008, Buffett suggested charging banks 5 percent or 6 percent on the U.S. investments and raising the rate later, Paulson wrote. The Treasury team had been considering 7 percent or 8 percent.
“I was convinced Warren’s was the best way to make the capital purchase program attractive to banks while giving them an incentive to pay back the government,” Paulson wrote. “Warren had a vested interest in this idea. But the truth was I was looking for an approach just like his: an investor-friendly plan that would protect the taxpayer” and encourage private investment.
Lenders have bought back $121.9 billion in preferred stock from the TARP’s Capital Purchase Program, with almost $83 billion still outstanding, according to a Feb. 5 transaction report. The agency has collected about $4.03 billion from the sale of warrants in about 35 banks.
Missed Payments
The $2.33 billion government bailout of CIT Group Inc., the commercial lender that emerged from bankruptcy in December, has been wiped out after the reorganization. American International Group Inc., with a bailout from TARP and other government efforts valued at $182.3 billion, missed dividend payments due the U.S. More than 50 other financial institutions didn’t pay dividends in November, according a report from Treasury.
Buffett’s Berkshire is the biggest investor in Goldman Sachs and Wells Fargo. His $5 billion investment in New York- based Goldman Sachs came on September 23, 2008, and Paulson wrote that that injection by Berkshire removed one of his worries.
World’s Most Credible Investor
“They’d found the most credible investor in the world, Warren Buffett,” Paulson wrote of Goldman Sachs, the firm he ran as chief executive officer and chairman until his appointment to George W. Bush’s cabinet in 2006.
Berkshire earns a 10 percent dividend on the Goldman Sachs preferred shares and the right to buy $5 billion of the bank’s stock at $115 a share. The shares closed yesterday at $151.10 in New York.
Buffett, according to Paulson’s account, told CNBC the day after his Goldman Sachs purchase that he wouldn’t have made the investment if he didn’t think Treasury’s $700 billion Troubled Asset Relief Program would pass Congress. TARP, originally devised as a way for the government to relieve banks of their bad debts, later became the capital purchase plan that Buffett helped shape.
Feb. 9 (AFP)- Former Treasury Secretary Henry Paulson, responding to a question from billionaire Warren Buffett, said the U.S. government will be repaid in full for the funds it put into the country’s lenders.
“We will get every penny we put into the banks back” and turn a profit, Paulson said today at a meeting of the Greater Omaha Chamber in Omaha, Nebraska. “I think when you look at all the other programs, we may be surprised at what we get back.”
More than 700 U.S. banks, insurers and automakers applied to the U.S. for cash from the Treasury Department’s $700 billion Troubled Asset Relief Program. Borrowers including Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. have returned more than $180 billion in bailout funds, according to Bloomberg data, and the Obama administration has proposed a levy on financial firms to recoup the government’s costs.
Special Inspector General Neil Barofsky, the government watchdog monitoring the bailout, said last month that the entire TARP program, including the rescue of American International Group Inc., General Motors Co. and Chrysler Group LLC, will cost taxpayers less than previously predicted. An earlier Barofksy report to Congress said the final cost could be “substantial.”
Paulson in 2008 injected capital into banks in exchange for preferred shares paying 5 percent and warrants to buy common stock. He appeared on stage at a meeting of the chamber of commerce alongside Buffett, whose Berkshire Hathaway Inc. is based in Omaha. Buffett asked questions of Paulson about the events surrounding the government bailouts as the two promoted Paulson’s book, “On the Brink.”
“I think you’re right,” Buffett said when Paulson said the U.S. would recoup its investment. Buffett declined to comment after the event today.
President Barack Obama last month proposed a fee on as many as 50 financial companies to recover losses from TARP. The levy would apply to firms with more than $50 billion in assets, including Wells Fargo and Goldman Sachs Group Inc., two companies that Berkshire has investments in. Buffett has said he opposes the administration’s plan.
Buffett’s Suggestion
Paulson wrote in the book, which was published last week, that a proposal from Buffett helped him hone the bailout to make it palatable to investors. During a private phone call late on Oct. 11, 2008, Buffett suggested charging banks 5 percent or 6 percent on the U.S. investments and raising the rate later, Paulson wrote. The Treasury team had been considering 7 percent or 8 percent.
“I was convinced Warren’s was the best way to make the capital purchase program attractive to banks while giving them an incentive to pay back the government,” Paulson wrote. “Warren had a vested interest in this idea. But the truth was I was looking for an approach just like his: an investor-friendly plan that would protect the taxpayer” and encourage private investment.
Lenders have bought back $121.9 billion in preferred stock from the TARP’s Capital Purchase Program, with almost $83 billion still outstanding, according to a Feb. 5 transaction report. The agency has collected about $4.03 billion from the sale of warrants in about 35 banks.
Missed Payments
The $2.33 billion government bailout of CIT Group Inc., the commercial lender that emerged from bankruptcy in December, has been wiped out after the reorganization. American International Group Inc., with a bailout from TARP and other government efforts valued at $182.3 billion, missed dividend payments due the U.S. More than 50 other financial institutions didn’t pay dividends in November, according a report from Treasury.
Buffett’s Berkshire is the biggest investor in Goldman Sachs and Wells Fargo. His $5 billion investment in New York- based Goldman Sachs came on September 23, 2008, and Paulson wrote that that injection by Berkshire removed one of his worries.
World’s Most Credible Investor
“They’d found the most credible investor in the world, Warren Buffett,” Paulson wrote of Goldman Sachs, the firm he ran as chief executive officer and chairman until his appointment to George W. Bush’s cabinet in 2006.
Berkshire earns a 10 percent dividend on the Goldman Sachs preferred shares and the right to buy $5 billion of the bank’s stock at $115 a share. The shares closed yesterday at $151.10 in New York.
Buffett, according to Paulson’s account, told CNBC the day after his Goldman Sachs purchase that he wouldn’t have made the investment if he didn’t think Treasury’s $700 billion Troubled Asset Relief Program would pass Congress. TARP, originally devised as a way for the government to relieve banks of their bad debts, later became the capital purchase plan that Buffett helped shape.
BIS’s Caruana Says Banks Should Increase Capital Requirements ...
“Capital and liquidity buffers need to be built up in good times so that they can be drawn down in bad times,” Caruana said. “Banks should hold a sufficient stock of high-quality liquid assets to be able to survive a month-long loss of access to funding markets.”
February 09, 2010
BIS’s Caruana Says Banks Should Increase Capital Requirements
Feb. 9 (AFP) - Capital requirements on banks aren’t sufficient to ensure financial stability and lenders should hold enough liquid assets to survive a temporary loss of access to funding, the head of the Bank for International Settlements said.
The capacity and incentives to take risks have “clearly overwhelmed” any improvements in risk management, Jaime Caruana wrote in a paper he delivered to a gathering of central bankers in Sydney today.
February 09, 2010BIS’s Caruana Says Banks Should Increase Capital Requirements
Feb. 9 (AFP) - Capital requirements on banks aren’t sufficient to ensure financial stability and lenders should hold enough liquid assets to survive a temporary loss of access to funding, the head of the Bank for International Settlements said.The capacity and incentives to take risks have “clearly overwhelmed” any improvements in risk management, Jaime Caruana wrote in a paper he delivered to a gathering of central bankers in Sydney today.
Financial companies alone can’t keep underlying risks in check and will need help from regulators to prevent any system-wide threat, he said.
Regulators worldwide have been wrestling with plans to increase supervision of banks following the global credit crisis. The Basel Committee on Banking Supervision, which sets minimum standards for banks in 27 countries and territories, proposed changes in December that would improve the quality and quantity of capital as well as bolster easily sellable assets lenders should hold to meet short-term liquidity needs.
“Capital and liquidity buffers need to be built up in good times so that they can be drawn down in bad times,” Caruana said. “Banks should hold a sufficient stock of high-quality liquid assets to be able to survive a month-long loss of access to funding markets.”
The Basel Committee proposed in December that banks should keep assets that are simple to value and wouldn’t have to be sold at fire-sale discounts during times of stress.
Reducing Risks
Lenders should also increase the amount of equity and retained earnings they hold to help them cope with losses better, the Basel Committee said last year. Banks’ core capital should exclude stock with preferential dividend rights to reduce risks to the financial system, it said in a report.
“Capital requirements are the speed limits of banking,” Caruana said today. “Capital requirements should draw on deep pockets that can absorb losses. An idea worth exploring is whether those pockets might be usefully deepened by debt that is convertible to equity when times are bad.”
Reserve Bank of Australia Governor Glenn Stevens told the same gathering in Sydney today that there remains “considerable debate” about the role of monetary policy in responding to risks to financial stability.
The “potential instability of a well-developed boom means that for policy makers the least-harm policy is to make sure that their settings are not inadvertently fueling the build- up,” Stevens wrote in a paper he co-authored and delivered to today’s event.
Booms and Busts
While financial booms and busts are inherent in a market- based economic system, such instability shouldn’t be allowed to “burn itself out” as it will come with unacceptable costs, Caruana said.
“The answer is not to repress financial markets,” he said. “It is to recognize that markets need rules, constraints and careful monitoring so that failures are less frequent and less costly.”
Banking supervisors need to strengthen the so-called resolution regime mechanisms to ensure the failure of any important financial institution will be managed internationally, Caruana said.
“The Basel Committee has recommended that supervisors provide capital or other prudential incentives for banks to simplify group structures that are too complex to permit orderly and cost-effective resolution,” he said.
Regulators worldwide have been wrestling with plans to increase supervision of banks following the global credit crisis. The Basel Committee on Banking Supervision, which sets minimum standards for banks in 27 countries and territories, proposed changes in December that would improve the quality and quantity of capital as well as bolster easily sellable assets lenders should hold to meet short-term liquidity needs.
“Capital and liquidity buffers need to be built up in good times so that they can be drawn down in bad times,” Caruana said. “Banks should hold a sufficient stock of high-quality liquid assets to be able to survive a month-long loss of access to funding markets.”
The Basel Committee proposed in December that banks should keep assets that are simple to value and wouldn’t have to be sold at fire-sale discounts during times of stress.
Reducing Risks
Lenders should also increase the amount of equity and retained earnings they hold to help them cope with losses better, the Basel Committee said last year. Banks’ core capital should exclude stock with preferential dividend rights to reduce risks to the financial system, it said in a report.
“Capital requirements are the speed limits of banking,” Caruana said today. “Capital requirements should draw on deep pockets that can absorb losses. An idea worth exploring is whether those pockets might be usefully deepened by debt that is convertible to equity when times are bad.”
Reserve Bank of Australia Governor Glenn Stevens told the same gathering in Sydney today that there remains “considerable debate” about the role of monetary policy in responding to risks to financial stability.
The “potential instability of a well-developed boom means that for policy makers the least-harm policy is to make sure that their settings are not inadvertently fueling the build- up,” Stevens wrote in a paper he co-authored and delivered to today’s event.
Booms and Busts
While financial booms and busts are inherent in a market- based economic system, such instability shouldn’t be allowed to “burn itself out” as it will come with unacceptable costs, Caruana said.
“The answer is not to repress financial markets,” he said. “It is to recognize that markets need rules, constraints and careful monitoring so that failures are less frequent and less costly.”
Banking supervisors need to strengthen the so-called resolution regime mechanisms to ensure the failure of any important financial institution will be managed internationally, Caruana said.
“The Basel Committee has recommended that supervisors provide capital or other prudential incentives for banks to simplify group structures that are too complex to permit orderly and cost-effective resolution,” he said.
Today or Tomorrow (Feb10th) Outweigh the Parliamentary Finance Committee Approval on the Presidency Federal Budget
09/02/2010Outweigh the parliamentary Finance Committee approval on the Presidency federal budget Today or Tomorrow
Baghdad, February 9 (aka News) - forecast of the Finance Committee in the Iraqi Council of Representatives, Tuesday, authentication CCAMLR president on the General Budget Law of the country despite the existence of observations on the paragraph appointments.
A member of the parliamentary legal committee Sami Atrushi told Kurdistan news (aka News) said that "the Presidency will be to ratify the federal budget on Tuesday or Wednesday, and there is no talk about returning the federal budget by the presidency to the Iraqi Council of Representatives by the comments on the subject of appointments or any other subject. "
The Kurdistan Alliance MP that "a coalition of law students previously to veto the budget and returned to the House to delete the paragraph on the appointments, but not up to anything in the Finance Committee by the President of the Republic in particular and he did not stay for the presidency, but one day to finish them being sent in the twenty-seventh of last month, but did not remain in front of them one day to decide on this matter. "
Atrushi pointed out that "if it did not denounce the presidential budget had thus ratified without the need to obtain the signatures of the three presidencies of the passage of the legal limit."
The House of Representatives voted on January 28 last federal budget, after having returned to the government to modify more than once, amid criticism and objections from the bloc coalition rule of law on Article 21 in the budget and providing for non-career appointments in the public budget approved the Federal Republic of Iraq for the fiscal year 2010 and the (115 A) the degree of functional only after the formation of the federal service.
Part of the Finance Committee Chairman ruled in the House Alaa al-Sadoun veto the budget by the Presidency of the Republic because of paragraph appointments.
"It is difficult to reverse federal budget over the clause appointments because the response to this demand, the Presidency of the Republic will only create problems."
Sadoun confirmed that "the constitutional time limit granted to the President of the Republic to ratify the budget until today, we do not believe that there is room to reverse any of the general budget, and in case was reversed certain material from the new budget will be returned to the House, which ended the last legislative term and the majority of its members are busy preparations for the start of campaigning. "
The Cabinet approved on 13 October last federal budget for 2010 of $ 83 trillion Iraqi dinars, which contains the supplementary budget for 2009 and $ 5 trillion and 300 billion Iraqi dinars.
Baghdad, February 9 (aka News) - forecast of the Finance Committee in the Iraqi Council of Representatives, Tuesday, authentication CCAMLR president on the General Budget Law of the country despite the existence of observations on the paragraph appointments.
A member of the parliamentary legal committee Sami Atrushi told Kurdistan news (aka News) said that "the Presidency will be to ratify the federal budget on Tuesday or Wednesday, and there is no talk about returning the federal budget by the presidency to the Iraqi Council of Representatives by the comments on the subject of appointments or any other subject. "
The Kurdistan Alliance MP that "a coalition of law students previously to veto the budget and returned to the House to delete the paragraph on the appointments, but not up to anything in the Finance Committee by the President of the Republic in particular and he did not stay for the presidency, but one day to finish them being sent in the twenty-seventh of last month, but did not remain in front of them one day to decide on this matter. "
Atrushi pointed out that "if it did not denounce the presidential budget had thus ratified without the need to obtain the signatures of the three presidencies of the passage of the legal limit."
The House of Representatives voted on January 28 last federal budget, after having returned to the government to modify more than once, amid criticism and objections from the bloc coalition rule of law on Article 21 in the budget and providing for non-career appointments in the public budget approved the Federal Republic of Iraq for the fiscal year 2010 and the (115 A) the degree of functional only after the formation of the federal service.
Part of the Finance Committee Chairman ruled in the House Alaa al-Sadoun veto the budget by the Presidency of the Republic because of paragraph appointments.
"It is difficult to reverse federal budget over the clause appointments because the response to this demand, the Presidency of the Republic will only create problems."
Sadoun confirmed that "the constitutional time limit granted to the President of the Republic to ratify the budget until today, we do not believe that there is room to reverse any of the general budget, and in case was reversed certain material from the new budget will be returned to the House, which ended the last legislative term and the majority of its members are busy preparations for the start of campaigning. "
The Cabinet approved on 13 October last federal budget for 2010 of $ 83 trillion Iraqi dinars, which contains the supplementary budget for 2009 and $ 5 trillion and 300 billion Iraqi dinars.
Patriot or Terrorist ~ Law Passed in South Carolina ~ SUBVERSIVE ACTIVITIES REGISTRATION ACT
"Somebody posted this on the social networking site. Wouldnt this make the tea party, 911 truthers, continental congress, 912ers, Ron Paulers, et al... ciminals?
"Subversive Activities Registration Act"
watch video~
SUBVERSIVE ACTIVITIES REGISTRATION ACT
Paul Joseph Watson
Feb 8, 2010
Subversives who think government is corrupt and should be controlled by the people face 10 years in prison and a $25,000 dollar fine if they fail to register with authorities in South Carolina, in another chilling example of how free speech and dissent is being criminalized in America.
The state’s “Subversive Activities Registration Act” is now officially on the books and mandates that “Every member of a subversive organization, or an organization subject to foreign control, every foreign agent and every person who advocates, teaches, advises or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States … shall register with the Secretary of State.”
Of course, the right to overthrow a government that has become corrupt, abusive and completely unrepresentative of its electorate is enshrined in the Declaration of Independence – that’s how America came to be a Republic in the first place – advocating or teaching that the people should “control” the government via their elected representatives is a basic function of a democratic society, but this law effectively makes it a terrorist offense.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness,” states the Declaration of Independence.
Under the sweeping terms of the law, members of tax protest organizations, the Tea Party movement and the States’ Rights movement based in South Carolina are all domestic terrorists if they fail to register their dissent with the authorities.
It is important to stress that the notion this law somehow only applies to “Islamic terrorists” is completely at odds with the fact that federal and state authorities now consider the main terror threat to be from informed American citizens exercising their constitutional rights in opposition to the big government agenda they are being subjected to.
As we saw with the MIAC report and a plethora of similar training manuals which were leaked over the last decade, police are being trained that libertarians, gun owners, Ron Paul supporters and anyone who is mildly political is a domestic extremist and a potential terrorist – these people are the real target of the subversives list in South Carolina.
The infamous Phoenix Federal Bureau of Investigation manual (page one, page two) produced in association with the Joint Terrorism Task Force listed “defenders of the U.S. constitution” and “lone individuals” as terrorists. Will anyone in South Carolina who defends the Constitution, the very bedrock of what America stands for, have to register with the authorities unless they want to be locked up for a decade?
Of course, since nobody is going to register as a “subversive” with South Carolina authorities, their failure to “comply” with the regulation will later be used against them as a means of eliciting criminal charges, in what represents a clear end run around the First Amendment.
The government isn’t going to just come out all guns blazing and ban free speech, they are simply going to make anyone who refuses to register for permission a criminal for failing to adhere to a separate mandate.
Just like people in places such as New York and Chicago were told that they had to get a license to purchase a gun – at first the process was a mere inconvenience but now the licensing process means they have to jump through 200 flaming hoops and the second amendment has effectively been outlawed in these cities.
They won’t hesitate to pull the same tricks with the First Amendment, and it’s already happening with calls to license Internet users and force them to get government permission to run a website.
_____________________________________________
South Carolina Code of Laws
(Unannotated)
DISCLAIMER
The South Carolina Legislative Council is offering access to the unannotated South Carolina Code of Laws on the Internet as a service to the public. The unannotated South Carolina Code on the General Assembly's website is now current through the 2009 session. The unannotated South Carolina Code, consisting only of Code text and numbering, may be copied from this website at the reader's expense and effort without need for permission.
The Legislative Council is unable to assist users of this service with legal questions. Also, legislative staff cannot respond to requests for legal advice or the application of the law to specific facts. Therefore, to understand and protect your legal rights, you should consult your own private lawyer regarding all legal questions.
While every effort was made to ensure the accuracy and completeness of the unannotated South Carolina Code available on the South Carolina General Assembly's website, the unannotated South Carolina Code is not official, and the state agencies preparing this website and the General Assembly are not responsible for any errors or omissions which may occur in these files. Only the current published volumes of the South Carolina Code of Laws Annotated and any pertinent acts and joint resolutions contain the official version.
Title 23 - Law Enforcement and Public Safety
CHAPTER 29.
SUBVERSIVE ACTIVITIES REGISTRATION ACT
SECTION 23-29-10. Short title.
This chapter may be cited as the "Subversive Activities Registration Act."
SECTION 23-29-20. Definitions.
For the purposes of this chapter the following words, phrases and terms are defined as follows:
(1) "Subversive organization" means every corporation, society, association, camp, group, bund, political party, assembly, body or organization, composed of two or more persons, which directly or indirectly advocates, advises, teaches or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States, of this State or of any political subdivision thereof by force or violence or other unlawful means;
(2) "Organization subject to foreign control" means every corporation, society, association, camp, group, bund, political party, assembly, body or other organization, composed of two or more persons, which comes within either of the following:
(a) it solicits or accepts financial contributions, loans or support of any kind directly or indirectly from, or is affiliated directly or indirectly with, a foreign government or a political subdivision thereof, an agent, agency or instrumentality of a foreign government or political subdivision thereof, a political party in a foreign country or an international political organization or
(b) its policies, or any of them, are determined by or at the suggestion of, or in collaboration with, a foreign government or political subdivision thereof, an agent, agency or instrumentality of a foreign government or a political subdivision thereof, a political party in a foreign country or an international political organization;
(3) "Foreign agent" means any person whose actions, or any of them, are determined by or at the suggestion of, or in collaboration with, a foreign government or political subdivision thereof, an instrumentality or agency of a foreign government or political subdivision thereof, a political party in a foreign country or an international political organization; and
(4) "Business" includes, but is not limited to, speaking engagements.
SECTION 23-29-30. Effect on freedom of press or speech.
Nothing in this chapter shall be construed to authorize, require or establish censorship or to limit in any way or infringe upon freedom of the press or of speech as guaranteed by the Constitution of the United States and no regulation shall be promulgated hereunder having that effect.
SECTION 23-29-40. Organizations exempt from application of chapter.
The terms of this chapter do not apply to any labor union or religious, fraternal or patriotic organization, society or association, or their members, whose objectives and aims do not contemplate the overthrow of the government of the United States, of this State or of any political subdivision thereof by force or violence or other unlawful means.
SECTION 23-29-50. Registration by subversive and foreign-controlled organizations.
Every subversive organization and organization subject to foreign control shall register with the Secretary of State on forms prescribed by him within thirty days after coming into existence in this State.
SECTION 23-29-60. Registration of members of subversive and foreign-controlled organizations.
Every member of a subversive organization, or an organization subject to foreign control, every foreign agent and every person who advocates, teaches, advises or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States, of this State or of any political subdivision thereof by force or violence or other unlawful means, who resides, transacts any business or attempts to influence political action in this State, shall register with the Secretary of State on the forms and at the times prescribed by him.
SECTION 23-29-70. Forms and schedule for filing information.
Every organization or person coming within the provisions of this chapter shall file with the Secretary of State all information which he may request, on the forms and at the times he may prescribe.
SECTION 23-29-80. Promulgation of rules and regulations.
The Secretary of State may adopt and promulgate any rules and regulations, not inconsistent with the terms of this chapter, which may be necessary to carry out the provisions of this chapter and may alter or repeal such rules and regulations.
SECTION 23-29-90. Penalties.
Any organization or person who violates any of the provisions of this chapter shall, upon conviction thereof, be punished by a fine of not more than twenty-five thousand dollars or imprisonment for not more than ten years, or by both fine and imprisonment.
http://www.scstatehouse.gov/code/t23c029.htm
The Legislative Council is unable to assist users of this service with legal questions. Also, legislative staff cannot respond to requests for legal advice or the application of the law to specific facts. Therefore, to understand and protect your legal rights, you should consult your own private lawyer regarding all legal questions.
While every effort was made to ensure the accuracy and completeness of the unannotated South Carolina Code available on the South Carolina General Assembly's website, the unannotated South Carolina Code is not official, and the state agencies preparing this website and the General Assembly are not responsible for any errors or omissions which may occur in these files. Only the current published volumes of the South Carolina Code of Laws Annotated and any pertinent acts and joint resolutions contain the official version.
Title 23 - Law Enforcement and Public Safety
CHAPTER 29.
SUBVERSIVE ACTIVITIES REGISTRATION ACT
SECTION 23-29-10. Short title.
This chapter may be cited as the "Subversive Activities Registration Act."
SECTION 23-29-20. Definitions.
For the purposes of this chapter the following words, phrases and terms are defined as follows:
(1) "Subversive organization" means every corporation, society, association, camp, group, bund, political party, assembly, body or organization, composed of two or more persons, which directly or indirectly advocates, advises, teaches or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States, of this State or of any political subdivision thereof by force or violence or other unlawful means;
(2) "Organization subject to foreign control" means every corporation, society, association, camp, group, bund, political party, assembly, body or other organization, composed of two or more persons, which comes within either of the following:
(a) it solicits or accepts financial contributions, loans or support of any kind directly or indirectly from, or is affiliated directly or indirectly with, a foreign government or a political subdivision thereof, an agent, agency or instrumentality of a foreign government or political subdivision thereof, a political party in a foreign country or an international political organization or
(b) its policies, or any of them, are determined by or at the suggestion of, or in collaboration with, a foreign government or political subdivision thereof, an agent, agency or instrumentality of a foreign government or a political subdivision thereof, a political party in a foreign country or an international political organization;
(3) "Foreign agent" means any person whose actions, or any of them, are determined by or at the suggestion of, or in collaboration with, a foreign government or political subdivision thereof, an instrumentality or agency of a foreign government or political subdivision thereof, a political party in a foreign country or an international political organization; and
(4) "Business" includes, but is not limited to, speaking engagements.
SECTION 23-29-30. Effect on freedom of press or speech.
Nothing in this chapter shall be construed to authorize, require or establish censorship or to limit in any way or infringe upon freedom of the press or of speech as guaranteed by the Constitution of the United States and no regulation shall be promulgated hereunder having that effect.
SECTION 23-29-40. Organizations exempt from application of chapter.
The terms of this chapter do not apply to any labor union or religious, fraternal or patriotic organization, society or association, or their members, whose objectives and aims do not contemplate the overthrow of the government of the United States, of this State or of any political subdivision thereof by force or violence or other unlawful means.
SECTION 23-29-50. Registration by subversive and foreign-controlled organizations.
Every subversive organization and organization subject to foreign control shall register with the Secretary of State on forms prescribed by him within thirty days after coming into existence in this State.
SECTION 23-29-60. Registration of members of subversive and foreign-controlled organizations.
Every member of a subversive organization, or an organization subject to foreign control, every foreign agent and every person who advocates, teaches, advises or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States, of this State or of any political subdivision thereof by force or violence or other unlawful means, who resides, transacts any business or attempts to influence political action in this State, shall register with the Secretary of State on the forms and at the times prescribed by him.
SECTION 23-29-70. Forms and schedule for filing information.
Every organization or person coming within the provisions of this chapter shall file with the Secretary of State all information which he may request, on the forms and at the times he may prescribe.
SECTION 23-29-80. Promulgation of rules and regulations.
The Secretary of State may adopt and promulgate any rules and regulations, not inconsistent with the terms of this chapter, which may be necessary to carry out the provisions of this chapter and may alter or repeal such rules and regulations.
SECTION 23-29-90. Penalties.
Any organization or person who violates any of the provisions of this chapter shall, upon conviction thereof, be punished by a fine of not more than twenty-five thousand dollars or imprisonment for not more than ten years, or by both fine and imprisonment.
http://www.scstatehouse.gov/code/t23c029.htm
related article ~
Obama Quietly Backs Renewing Patriot Act Surveillance Provisions
Fight for Freedom - Legally and with Good Intention -
Gulf Central Bankers to Meet in March ...
February 9, 2010 Gulf central bankers to meet ~
The first meeting of the Gulf Central Bank will be held in March this year, said GCC Secretary General Abdul Rahman Al-Attiyah here on Monday.
Al-Attiyah made the announcement during his address at the Saudi and Qatari Businessmen Forum, which was held for the second day on Monday under the patronage of Custodian of the Two Holy Mosques King Abdullah.
He also expressed hope for the imminent comeback of the United Arab Emirates to the GCC Monetary Union.
The forum’s inaugural function took place on Sunday. Following the inauguration, King Abdullah met visiting businessmen and businesswomen at Yamamah Palace in Riyadh.
The forum was sponsored by the Council of Saudi Chambers of Commerce and Industry and the Qatari Chamber of Commerce and Industry. The Qatari delegation comprised 150 members, which is the largest business team ever to visit the Kingdom. It was reciprocated with an equal number of Saudi businessmen at talks that were held on Monday.
Al-Attiyah said that the first GCC Central Bank meeting, which will be held in the latter part of March this year in Riyadh, would be attended by the governors of Qatar, Bahrain, Kuwait and the Kingdom’s central banks. “They will work out the legislative, institutional and functional procedures of the common bank,” the secretary general said.
“We sincerely hope and pray that the United Arab Emirates will rejoin the GCC monetary union and form a formidable group to carry out the uniform monetary policy of GCC member countries,” said Al-Attiyah.
He added that the next union meeting will decide on a uniform currency and subsequent meetings will formulate details for its implementation.
Talking on the GCC-EU free trade agreement (FTA), which was stalled in 2008, Al-Attiyah said negotiations would resume since some of the clauses that were problematic would be amended in deference to the wishes of the two parties.
He also said plans are under way to finalize the Gulf rail project. “We are working out details of the rail network connecting all GCC countries,” he said, adding that the location of the headquarters of the project would be decided upon later by GCC members.
Commerce and Industry Minister Abdullah Zainal Alireza said that the two countries could open new areas of cooperation to develop bilateral trade, especially in information technology, the manufacture of new products and the offering of new services.
He recalled that bilateral trade between the two countries reached SR6.2 trillion in 2008. He said that during the first half of 2009, 16 new joint venture projects, estimated at SR1.6 billion, were initiated.
The minister requested the delegates form a joint action committee to promote more trade activities that would be of mutual interests.
The delegates also decided to form a joint investment company to promote investments from the two countries. The Saudi-Qatari Joint Business Council will meet at the same venue on Tuesday.
The first meeting of the Gulf Central Bank will be held in March this year, said GCC Secretary General Abdul Rahman Al-Attiyah here on Monday.
Al-Attiyah made the announcement during his address at the Saudi and Qatari Businessmen Forum, which was held for the second day on Monday under the patronage of Custodian of the Two Holy Mosques King Abdullah.
He also expressed hope for the imminent comeback of the United Arab Emirates to the GCC Monetary Union.
The forum’s inaugural function took place on Sunday. Following the inauguration, King Abdullah met visiting businessmen and businesswomen at Yamamah Palace in Riyadh.
The forum was sponsored by the Council of Saudi Chambers of Commerce and Industry and the Qatari Chamber of Commerce and Industry. The Qatari delegation comprised 150 members, which is the largest business team ever to visit the Kingdom. It was reciprocated with an equal number of Saudi businessmen at talks that were held on Monday.
Al-Attiyah said that the first GCC Central Bank meeting, which will be held in the latter part of March this year in Riyadh, would be attended by the governors of Qatar, Bahrain, Kuwait and the Kingdom’s central banks. “They will work out the legislative, institutional and functional procedures of the common bank,” the secretary general said.
“We sincerely hope and pray that the United Arab Emirates will rejoin the GCC monetary union and form a formidable group to carry out the uniform monetary policy of GCC member countries,” said Al-Attiyah.
He added that the next union meeting will decide on a uniform currency and subsequent meetings will formulate details for its implementation.
Talking on the GCC-EU free trade agreement (FTA), which was stalled in 2008, Al-Attiyah said negotiations would resume since some of the clauses that were problematic would be amended in deference to the wishes of the two parties.
He also said plans are under way to finalize the Gulf rail project. “We are working out details of the rail network connecting all GCC countries,” he said, adding that the location of the headquarters of the project would be decided upon later by GCC members.
Commerce and Industry Minister Abdullah Zainal Alireza said that the two countries could open new areas of cooperation to develop bilateral trade, especially in information technology, the manufacture of new products and the offering of new services.
He recalled that bilateral trade between the two countries reached SR6.2 trillion in 2008. He said that during the first half of 2009, 16 new joint venture projects, estimated at SR1.6 billion, were initiated.
The minister requested the delegates form a joint action committee to promote more trade activities that would be of mutual interests.
The delegates also decided to form a joint investment company to promote investments from the two countries. The Saudi-Qatari Joint Business Council will meet at the same venue on Tuesday.
arabnews
Maliki says Iraq election row to be resolved before campaign starts
09 February, 2010Maliki says Iraq election row to be resolved before campaign starts
Prime Minister Nuri al-Maliki said yesterday he has received assurances that judges will resolve a simmering row over who can stand in Iraq’s general election before official campaigning starts on February 12.
Around 100 lawmakers had gathered earlier at parliament for an emergency session to debate a contentious decision to allow hundreds of candidates allegedly linked to executed dictator Saddam Hussain’s Baath party to stand in the vote.
The meeting was triggered by Maliki after he branded as “illegal” a judicial panel’s ruling that around 500 previously barred candidates could compete in the March 7 vote after all, subject to a post-ballot appeals process.
But the parliament meeting was called off when MPs were told the chamber had received a letter from Maliki that said a judicial panel would complete an appeals process by next Friday, more than three weeks ahead of polling day.
The letter specified that “the panel of judges decided to start immediately the study of the appeals,” deputy parliament speaker Khaled al-Attiya told MPs.
A parliamentary official said that the judicial panel had also written to parliament to say it will be able to complete its review of candidates by Friday, when official campaigning is due to start.
The head of the integrity and accountability committee, which originally accused the candidates of being Baathists or having other ties to Saddam’s fallen regime, said separately that only 177 people have launched appeals.
Ali al-Allami, executive director of the committee, said the number was markedly less than the 511 names originally blacklisted from the vote as many parties had chosen alternative candidates.
The election, the second parliamentary ballot in Iraq since Saddam’s ouster, is seen as a test of reconciliation between the Sunni minority dominant under the former dictator and the Shiite majority represented by Maliki’s government.
The volatile election environment was underscored late on Sunday when a female candidate was gunned down in the restive northern city of Mosul, 350km from Baghdad, a killing said to be politically motivated.
The judges decided last Wednesday to allow the previously barred candidates to stand, saying they would examine their files after the polls and would eliminate them if they were found to be Baathists.
The blacklist sparked tensions between the country’s Shia majority and its Sunni Arab former elite when it was compiled last month.
It includes - both Sunni and Shia - suspected Baathists and alleged members of Saddam’s once deadly Fedayeen (Men of Sacrifice) militia and Mukhabarat intelligence division.
The row over who can take part in the vote, however, has underscored the fragility of Iraq’s democracy, alarming Washington which sees the election as a crucial precursor to a complete military withdrawal by the end of 2011.
There are currently 107,000 US troops in Iraq, but the number is scheduled to fall to 50,000 by August when all American combat soldiers are due to pull out.
US Secretary of State Hillary Clinton said on Friday she was “heartened” by the decision to reinstate the previously banned candidates and urged all parties to do nothing to undermine the legitimacy of elections.
gulftimes
Europe Needs an 'Economic Government'
Europe needs an 'economic government'
Wednesday, February 10, 2010
The European Union's new President, Herman Van Rompuy, is calling for an "economic government" for the bloc, with closer policy co-ordination and financial incentives for good performers.
Wednesday, February 10, 2010
The European Union's new President, Herman Van Rompuy, is calling for an "economic government" for the bloc, with closer policy co-ordination and financial incentives for good performers.
"The crisis has revealed our weaknesses," the former Belgian prime minister said in a statement entitled. "A European strategy for growth and jobs" prepared for an EU summit in Brussels on Thursday.
At present, individual European nations "are responsible for the economic strategy of their government. They should do the same at EU level", he said.
"Whether it is called coordination of policies or economic government," only the European nations working are "capable of delivering and sustaining a common European strategy for more growth and more jobs", he underlined.
The statement comes with Greece's deficit crisis as the backdrop. Spain, Portugal, Ireland and others are also in budgetary trouble. "Recent developments in the euro area highlight the urgent need to strengthen our economic governance," he added.
The evocation of a European "economic government" will please France which has lobbied in this direction for years without success. However, Germany, Britain and others remain opposed to such a plan.
SIIC chief calls on Czech to urge EU countries to boost relations with Iraq
SIIC chief calls on Czech to urge EU countries to boost relations with Iraq
February 9, 2010
BAGHDAD / Aswat al-Iraq: The head of the Supreme Iraqi Islamic Council, Ammar al-Hakim, on Tuesday called on the Czech Republic to urge European Union countries to boost relations with Iraq, according to a statement released by the SIIC.
“This came during al-Hakim’s meeting with the ambassador of the Czech Republic in Baghdad,” said the statement received by Aswat al-Iraq news agency.
“The Shiite official called on the Czech Republic, which holds the rotating presidency of the EU, to urge the EU to play a bigger role in Iraq and to strengthen ties with the country in various domains,” the statement added.
The diplomat spoke about the contributions of Czech companies in the economic and investment fields, mainly the oil sector and her country’s keenness to have the best possible political and economic relations with Iraq.
February 9, 2010
BAGHDAD / Aswat al-Iraq: The head of the Supreme Iraqi Islamic Council, Ammar al-Hakim, on Tuesday called on the Czech Republic to urge European Union countries to boost relations with Iraq, according to a statement released by the SIIC.
“This came during al-Hakim’s meeting with the ambassador of the Czech Republic in Baghdad,” said the statement received by Aswat al-Iraq news agency.
“The Shiite official called on the Czech Republic, which holds the rotating presidency of the EU, to urge the EU to play a bigger role in Iraq and to strengthen ties with the country in various domains,” the statement added.
The diplomat spoke about the contributions of Czech companies in the economic and investment fields, mainly the oil sector and her country’s keenness to have the best possible political and economic relations with Iraq.
France vows to support Iraq in all fields ...
"The ambassador asserted that France will support Iraq in all political, economic and cultural fields and reconstructed its infrastructure and its contribution to getting Iraq out of the Chapter VII"
France vows to support Iraq in all fields
BAGHDAD / Aswat al-Iraq: Head of the Supreme Iraqi Islamic Council, Ammar al-Hakim said on Tuesday that Iraq believes in setting up international and opened relations globally, while the French ambassador in Baghdad vowed that his country will support Iraq in all fields, according of a SIIC statement.
“Al-Hakim received the French ambassador in Baghdad and discussed with him issues of common interest and bilateral ties,” said the statement received by Aswat al-Iraq news agency.
The ambassador asserted that France will support Iraq in all political, economic and cultural fields and reconstructed its infrastructure and its contribution to getting Iraq out of the Chapter VII.
February 9, 2010
France vows to support Iraq in all fieldsBAGHDAD / Aswat al-Iraq: Head of the Supreme Iraqi Islamic Council, Ammar al-Hakim said on Tuesday that Iraq believes in setting up international and opened relations globally, while the French ambassador in Baghdad vowed that his country will support Iraq in all fields, according of a SIIC statement.
“Al-Hakim received the French ambassador in Baghdad and discussed with him issues of common interest and bilateral ties,” said the statement received by Aswat al-Iraq news agency.
The ambassador asserted that France will support Iraq in all political, economic and cultural fields and reconstructed its infrastructure and its contribution to getting Iraq out of the Chapter VII.
Iraq seeks strategic economic partnership with US
February 9, 2010Iraq seeks strategic economic partnership with US
BAGHDAD / Aswat al-Iraq: Iraqi Trade Ministry said on Tuesday that Iraq needs the U.S. as an investor and strategic partner to form a developed economy.
“Iraq wants to expand its economic and trade relations with the U.S.,” the Ministry said in a release received by Aswat al-Iraq news agency.
It said that Iraq has the parameters to qualify as a strong and developed economy in the region.
Monday, February 8, 2010
Would You Even Recognize Sarcasm? Mission #1 - Explain Sarcasm
There are a few missions to accomplish today. The first mission, mission 1, is to explain sarcasm. Doctors with PhD's have determined that those with higher IQ's understand sarcasm better than those with lower IQ's.
Sarcasm ...most people get it, but there are a few that obviously don't. It is easier sometimes to understand sarcasm when someone is saying it. When sarcasm is in written form, it sometimes goes over a person's head. For example, if someone says to another person "wow, I can't wait to be a part of the new world order so I can get a chip implanted in my ass" you would probably be able to detect the sarcasm in the delivery and the tone of voice. But, it appears that when you put the words in writing, it loses the sarcastic tone and is taken seriously.
Would You Even Recognize Sarcasm?
Most people think they know what sarcasm is and could recognize it if they heard it.
Most people would be wrong.
Sarcasm is one of those areas of human behavior which has historically been a little difficult to study. But psychologists and researchers have gained some insight into sarcasm and how people use it, and how well people can identify (or can’t identify) sarcasm. For example, Derks et al. (2008) found that emoticons can convey sarcasm, and in fact in some ways can act as a suitable replacement for much of our nonverbal behavior. In a small experiment, Williams et al. (2009) found that people who made sarcastic statements tended to avert their eye gaze, suggesting a simple way to confirm whether a statement was intended to be sarcastic or not.
But it was Rockwell’s (2006) survey of sarcasm that I think produced the most interesting, recent findings in this area. Out of 218 respondents to her survey, 25 percent didn’t complete the question asking for an example of a sarcastic comment they remember making (perhaps 25 percent of us don’t use sarcasm?). Of the remaining 75 percent who did complete the question, only 45 percent of the people actually came up with a sarcastic remark.
Before delving into the other findings of the study, I think it’s important to highlight that finding: the majority of people — 55 percent — who responded to this survey thought they were giving an example of a sarcastic remark they made, when in fact what they gave was a non-sarcastic remark! A couple of examples — “You really need to stop letting things blow your head up because you’re not that cute” and “I coach a girls’ softball team and during a game I yelled at a girl jogging to the base, ‘My grandmother can run faster than than.’”
It’s no wonder why sarcasm is so often misused or misunderstood — half of us can’t recognize sarcasm in the first place. Something we may mean in a sarcastic manner may be seen as being just plain mean because it was never actually sarcasm in the first place.
Sarcasm is simply saying something intended in a mean-spirited, derogatory or unpleasant manner while meaning the exact opposite. Most people who use sarcasm expect that the recipient of the sarcastic message to recognize the contradiction.
The researcher found that most (69 out of 73) sarcasm used positive language to imply a negative intent, such as “You did a wonderful parking job” or “Obviously, you are the brains of this organization.”
The study also found that most (67 out of 73) sarcasm was directed at others, not at oneself. Very few people, apparently, care enough to make sarcastic remarks toward themselves.
Most comments (62 out of 73) were not considered serious, but were instead primarily teasing in nature. Examples of these included, “Someone hit the door frame and I said, ‘You know, there’s a door right there,” and “When my friend obviously didn’t know the words to a song, I told her how well she sang.”
Less than half (30 of 73) sarcasm was used to evaluate someone else’s performance or choices. Prior studies had found that sarcasm used to evaluate another person was usually more common and used the majority of the time. Such examples include, “‘Oh that looks fabulous!’ to a boyfriend who was wearing something totally inappropriate,” and “‘Nice shot, Sally!’ to my friend who just made a bad shot in golf.”
One of the study’s closing sentences sums up the use of sarcasm best:
Sarcasm represents a difficult verbal behavior, and many speakers who attempt to use it, fail to accomplish their task.
Sarcasm is indeed difficult to use successfully, and can often be taken in a way not intended, leaving a trail of hurt feelings in your path. When used well, it can resemble an art form. Unless you’re well-versed in the art, you should leave the sarcasm to the professionals. Like comedians.
Sarcasm ...most people get it, but there are a few that obviously don't. It is easier sometimes to understand sarcasm when someone is saying it. When sarcasm is in written form, it sometimes goes over a person's head. For example, if someone says to another person "wow, I can't wait to be a part of the new world order so I can get a chip implanted in my ass" you would probably be able to detect the sarcasm in the delivery and the tone of voice. But, it appears that when you put the words in writing, it loses the sarcastic tone and is taken seriously.
Would You Even Recognize Sarcasm?
Most people think they know what sarcasm is and could recognize it if they heard it.
Most people would be wrong.
Sarcasm is one of those areas of human behavior which has historically been a little difficult to study. But psychologists and researchers have gained some insight into sarcasm and how people use it, and how well people can identify (or can’t identify) sarcasm. For example, Derks et al. (2008) found that emoticons can convey sarcasm, and in fact in some ways can act as a suitable replacement for much of our nonverbal behavior. In a small experiment, Williams et al. (2009) found that people who made sarcastic statements tended to avert their eye gaze, suggesting a simple way to confirm whether a statement was intended to be sarcastic or not.
But it was Rockwell’s (2006) survey of sarcasm that I think produced the most interesting, recent findings in this area. Out of 218 respondents to her survey, 25 percent didn’t complete the question asking for an example of a sarcastic comment they remember making (perhaps 25 percent of us don’t use sarcasm?). Of the remaining 75 percent who did complete the question, only 45 percent of the people actually came up with a sarcastic remark.
Before delving into the other findings of the study, I think it’s important to highlight that finding: the majority of people — 55 percent — who responded to this survey thought they were giving an example of a sarcastic remark they made, when in fact what they gave was a non-sarcastic remark! A couple of examples — “You really need to stop letting things blow your head up because you’re not that cute” and “I coach a girls’ softball team and during a game I yelled at a girl jogging to the base, ‘My grandmother can run faster than than.’”
It’s no wonder why sarcasm is so often misused or misunderstood — half of us can’t recognize sarcasm in the first place. Something we may mean in a sarcastic manner may be seen as being just plain mean because it was never actually sarcasm in the first place.
Sarcasm is simply saying something intended in a mean-spirited, derogatory or unpleasant manner while meaning the exact opposite. Most people who use sarcasm expect that the recipient of the sarcastic message to recognize the contradiction.
The researcher found that most (69 out of 73) sarcasm used positive language to imply a negative intent, such as “You did a wonderful parking job” or “Obviously, you are the brains of this organization.”
The study also found that most (67 out of 73) sarcasm was directed at others, not at oneself. Very few people, apparently, care enough to make sarcastic remarks toward themselves.
Most comments (62 out of 73) were not considered serious, but were instead primarily teasing in nature. Examples of these included, “Someone hit the door frame and I said, ‘You know, there’s a door right there,” and “When my friend obviously didn’t know the words to a song, I told her how well she sang.”
Less than half (30 of 73) sarcasm was used to evaluate someone else’s performance or choices. Prior studies had found that sarcasm used to evaluate another person was usually more common and used the majority of the time. Such examples include, “‘Oh that looks fabulous!’ to a boyfriend who was wearing something totally inappropriate,” and “‘Nice shot, Sally!’ to my friend who just made a bad shot in golf.”
One of the study’s closing sentences sums up the use of sarcasm best:
Sarcasm represents a difficult verbal behavior, and many speakers who attempt to use it, fail to accomplish their task.
Sarcasm is indeed difficult to use successfully, and can often be taken in a way not intended, leaving a trail of hurt feelings in your path. When used well, it can resemble an art form. Unless you’re well-versed in the art, you should leave the sarcasm to the professionals. Like comedians.
"Not" when used properly can denote sarcasm ~ watch
mission 1 accomplished ... stay tuned for mission 2 ...
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