Prudence 12: Family, Here is my UPDATED APRIL CALENDAR:
4/7 - POSSIBLE drop dead date for any finalization of Mosul (this is merely my calc based on various readings, so cannot document this - just bears calendaring). Possibly there are more loose ends to tie up, not sure.
4/8 or week of 4/11 - based on slightly conflicting articles, a Kurdish delegation will visit Baghdad to discuss the Cabinet. I can imagine that they seek to have input prior to any formal announcement.
4/14 thru 4/25 - critical time for us to study all happenings in Iraq, governmental and economic - and anything else, as Frank had mentioned to us
4/15 thru 4/17 - IMF mtg in DC
4/16 OPEC and related parties mtg in Qatar
4/22 - the new Shanghai Gold Exchange launches its Gold Spot Price - which will shake, rattle and roll the investment world. Nothing but physical gold - for yuan. Will we have clarity on asset-backed currencies by this date? Will precious metals explode? Will paper gold survive this?
4/22 thru 4/28 - a lengthy G7 mtg in Mie, Japan
4/26 - 4/27 (regularly) scheduled FOMC mtg of the Federal Reserve
5/1 - I believe this is a CBI Holiday
May require further refinement as the month progresses. Frank, Family, Frank's Teams: Please feel free to modify this, where I have erred.
Also, we should be looking for the usual things, such as various CB websites, UN Op rates, Fed Res rates, etc.
ReddStarr: Family, I've been thinking about a few things & just wanted to share my opinion with everyone. I pulled a couple of old articles that maybe need a little more studying, or at least another read!
(These are some excerpts from the SMP review that was released 3/29)
IMF Staff Completes Mission for a Staff-Monitored Program Review and a Stand-By Arrangement Discussion with Iraq!
"The current account deficit of the balance of payment widened to
5.1 percent of GDP in 2015. As a result, foreign exchange reserves dropped
by $13 billion to $54 billion at end-2015."
From Shab's in 2012 "The governor of Central Bank of Iraq Friday rising bank monetary reserves of $50 billion to $60 billion dollars, indicating that the process of deleting the zeroes will begin early next year. He said Central Bank Governor Sinan Shabibi told the Kurdish news agency that "Iraq's cash reserves rose to $60 billion after it was last year's $50 billion"
ReddStarr: (According to the above article in 2012 when Shab's wanted to drop the 3 zero's,
the reserves were at $60 billion, not far off from where Iraq is now & with the 2007 budget passed, the amount of money Iraq will be getting can easily double this amount. So there is plenty in the reserves to move forward when they decide to)
ReddStarr: Back to the IMF SMP review......
"Three out of the five indicative targets at end-December 2015 were met"
ReddStarr: (3 of the 5 were met when this article was released in 12/15, leaving only 2 to beworked on & accomplished)
"The target on social spending was missed by a small margin."
ReddStarr: (reference back to the above, the 2007 budget held tons of money of Iraq. This "small
margin" on social spending shouldn't be a problem & I'm assuming should be close to being completed)
"The target on non-accumulation of external arrears was missed due to the government’s constraint."
Reddstarr: (Cash constraint due to falling oil prices, salaries, pensions, war, etc., But we've seen what Iraq has done to move forward since then. Gas/oil exports, bonds, tariffs, taxes, external loans, etc. More than enough cash flow to cover the external arrears)
"One out of three structural benchmarks was met and the other two were not yet met but good progress has been made and authorities expect to meet them shortly."
Reddstarr: (They didn't say what the three structural benchmarks were, but expect them to be met shortly, seems to me that this is nothing too big & could be accomplished in short order)
"The discussions will continue during the April 2016 IMF-World Bank Spring meetings in Washington, D.C."
Reddstarr: (More on this below)
Now, I say all that to say this, It looks like what was requested by the IMF for Iraq to meet on the SMP program was very minimal, nothing that would require a lot of time. Knowing that the 2007 budget has been passed & they should be seeing a lot of that allocated money returned to begin payments on arrears, infrastructure, reserves, etc..
Another point I wanted to bring up, from an article that was recently posted.
Christine Lagarde: IMF chief says 'we are on alert' when assessing risks to global growth!
"The IMF has warned that growth in Europe and Japan has been a major disappointment.
China's slowing growth has also hurt oil and commodity exporting countries, including
Brazil and Russia"
Reddstarr: (Christine Lagarde expressed to the world her "disappointment" with other countries, but failed to mention Iraq at anytime during her speech/speeches she has been making lately. What does that tell you? This can almost make one feel that maybe Iraq is no longer one of those "disappointing countries" & very close to stepping up on that global stage!)
Governors of the World Bank and IMF gather in Washington DC from 15 - 17 April, 2016, & The civil society policy forum will take place from 12th to 15th April.
Reddstar: (So we are less than 10 days away from the World Bank/IMF Spring meetings & now word that Big John Kerry is arriving in Baghdad on Friday. Could we be close to seeing Iraq move forward with a major announcement from the IMF? Sure looks like the stars are finally lining up. But then again I've always been a dreamer.......)
Mountainman: Well Stated REDDSTARR........This Deserves A "GOLD STAR"....... I Appreciate The Compilation......Blessings,Mountainman (8)=New Beginnings
BGG Article: "Washington and Tehran Rescue Abadi of the coup orchestrated by al-Maliki First Published: 2016-04-06"
I was reading something of a vague attempt - brewing for a while now...all of this came to a boiling point on the 3rd - when the Supreme Court came down with a ruling that Abadi can do what he's doing...the crooks are fighting like mad to keep their status quo...
xyz : A traffic jam of nearly 30 large oil tankers has built up outside the Iraqi port of Basra due to loading delays, with some waiting up to three weeks and costing ship operators around $75,000 a day per vessel. http://www.reuters.com/article/us-iraq-oil-tanker-traffic-idUSKCN0X315
WingIt Wednesday CC with Gerry Maguire
Guests are Art, Special Caller, Iko Ward and more….
Chip: Rumor Only...My pentagon source said can't talk!!!....My cia contact said public to go on the 15th..He is a little whale and has SKR...still not liquid and waitng like us.
Beams: ( Highlights From) LANDA CALL (JERZY) 4/6/2016
Jerzy: Good news . Global Reset Sequence has started. GCR/RV are in progress right now.
Some Transactions completed.. more scheduled.
Overall. progress is successful. reconstruction projects can begin.
Many bankers going to Jail.
Funds from the trust are being released as we speak.
Funds are in final stages of release and to be cleared by paymaster starting today.
Should see first funds within a day or two.