wmawhite Remember...the IMF and the World Bank has been consulting numerous times throughout the years with Iraq (CBI, GOI, Parliament).
They know more about Iraq than the Iraqis do and YET! Let's say that again, YET! the IMF told the entire world that they expect Iraq to enter the economy market during the 1st half of 2016. ...
What I just posted is FACT...plain and simple...fact.
GodLovesYou: .there is a lot involved with reevaluating currency. The US economy and the world economy must be balanced. The chamge can effect pricing....and that will effect the poor and the middle class most And they are on time.....there is no delay....we just got to grin and wait..
Yada: here is the clues,,,,Ray stated we are still within the dates of "before or by this date" the bank and agency memos stated and yesterday, he confirmed that the banks were more excited on Monday than Friday because they received the codes they would use for the exchanges,,, that is why he stated they were expecting us yesterday or today and I would adventure to say Wednesday before the codes expire
JJF: yada - why would the codes expire?
Yada: they would change them if not used to keep the banks in line,,,, JJF,,look at the codes as a tempory pin code we would receive when we receive a new debit card,,
Yada: JJF,,some banks are pre-exchanging with customers but not at the full rates,,those banks, I believe, are not drawing those funds from the Treasury as we would be when we exchange, the banks are giving them money with anticipation of the RV from their own coffers,,,the codes are the release authorization for the exchanges at what ever rates they establish
Yada: keeps the banks from doing an Oklahoma and going before everyone else…. Oklahom a is called the sooner state because on the day of the free land give away, there were some who went sooner than the rest to get the best property
SassyD: SWIFT returns to international bank transfers for Iran’s banks -- Tehran, Feb 2, IRNA – With the nuclear deal that led to the termination of sanctions, Iran has access to around 100 billion euros of its assets that were frozen in countries around the world. -- http://www.irna.ir/en/News/81946807/
SassyD: The Fed Wants to Test How Banks Would Handle Negative Rates -- February 2, 2016 — 10:21 AM CST -- http://www.bloomberg.com/news/articles/2016-02-02/rates-less-than-zero-is-bank-stress-fed-wants-to-test-in-2016
SassyD: UBS bank shares plunge as rich investors withdraw money -- Feb 2, 9:54 AM EST -- http://hosted.ap.org/dynamic/stories/E/EU_SWITZERLAND_EARNS_UBS?SITE=A P&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-02-02-06-56-54
Tidbits from WSOMN CC today
IKO Ward: : (Hearing) Wells Fargo and Chase started early exchanges today...
Wolfy: Three bank tests (were) done this past weekend, Third time went international, and hearing Wednesday (tomorrow) (for the announcement).
Iko Ward: IKO came on and said that he had good sources confirm directly from banking sources tat they started early exchanges today at Wells and Chase
IKO WARD: : EARLY EXCHANGES AT EXCHANGE CENTERS ONLY. DO NOT CALL RETAIL BANK BRANCHES OR GO TO THE BRANCHES ASKING ABOUT EXCHANGES.
Tuesday Conference call replayQ&A with a little intel:
PC: Could this be a celebration call for Bruce tonight?
Blackeyedpea Hey folks. I can see the Dong going first if the US keeps playing with Iraqs balls!.... hina will just unleash the Dong! That will force Iraq to handle its business!
Blackeyedpea; Is it true Iko said early exchanges have started?
Wolfy: Blackeye yes and so did I
TMan10: Oilpocalypse Wow! Stocks, Bond Yields Plunge As Bank Risk Soars....http://www.zerohedge.com/news/2016-02-02/oilpocalypse-wow-stocks-bond-yields-plunge-bank-risk-soars
Four2atous: HSBC loses appeal in French tax fraud investigation: sources= http://www.reuters.com/article/us-hsbc-fraud-idUSKCN0VA31T
Four2atous: U.S. Defense Secretary Ash Carter plans to map out his spending priorities for the $583 billion 2017 defense budget on Tuesday ahead of the official budget release on Feb. 9= http://www.reuters.com/article/us-usa-budget-arms-idUSKCN0VA3RW
Four2atous: Pressures on the Vietnamese dong's quasi-fixed currency regime led to a decline in reserves of nearly 20% in 3Q15= http://www.reuters.com/article/idUSFit947797
Walkingstick: Looking Jubouri America with the World Bank officials ways to support Iraq economically
Tuesday February 2, 2016 09:16
Search House Speaker Saleem al-Jubouri, Tuesday, With The World Bank Officials Ways To Support Iraq Economically, And Provide The Necessary Needs Of The Citizen. Jubouri Said Office In A Statement Received Alsumaria News, A Copy Of "House Of Speaker Salim al Representatives-Jubouri Met During His Visit To US United Officials Of The World Bank. "He Added That The Office" Jubouri Discussed With Them Ways To Support Iraq Economically, And Provide The Necessary Needs Of The Citizen. "
Parliament Speaker Salim The al-Jubouri, Arrived In January 2016 27, To The United States To Meet A Number Of Officials Discuss And The Fight Against Extremism File And The Elimination Of The Roots Of "Terrorism."
http://www.alsumaria.tv/news/158545/%D8 ... 5%D8%B1/ar
Walkingstick: The US Debt Just Exceeded 19 Trillion. Here’s How We Got Here
Romina Boccia / @RominaBoccia / February 02, 2016
On Monday the U.S. national debt hit a new record: $19,012,827,698,418. This is the first time the national debt has ever exceeded $19 trillion. That’s more than $58,000 for each person that lives in the U.S. today (including children).
That’s more than $58,000 for each person that lives in the U.S. today (including children).
The main culprit behind the rising deficits and debt is growing federal spending – especially among Social Security, Medicare, Medicaid and Obamacare.
Traditionally Congress has set a limit for how much debt the U.S. may take on, known simply as the debt limit. But rather than put a higher limit on the debt, lawmakers and the president have repeatedly suspended the debt limit; most recently in November of last year through March 15, 2017. During a debt limit suspension, the Department of Treasury is authorized to borrow however much that is needed to pay all federal obligations that come due. This means there is basically no limit on debt the U.S. may take on.
The House Financial Services Subcommittee on Oversight and Investigations will host a hearing on “Unsustainable Federal Spending and the Debt Limit.” I’ll be among the witnesses, together with my colleagues Dan Mitchell of the Cato Institute and Veronique De Rugy of the Mercatus Center.
Several analysts have called for a permanent debt limit suspension or full repeal of the debt ceiling statute. In their view, the debt limit is an archaic law that serves little to no useful purpose today. They argue that because Congress authorizes all spending, it’s nonsensical to have a separate limit on borrowing. Moreover, they warn that debt limit negotiations are dangerous and bring the nation to the brink of default.
This view is wrong. At a time when more than $8 out of every $10 in additional federal spending – over the next decade – is growing on autopilot, the debt limit is a critical tool in Congress’s arsenal to bring about positive change.
And change is desperately needed. The Congressional Budget Office (CBO) projects that outlays will grow from $3.7 trillion in 2015 to $6.4 trillion in 2026. Moreover, spending growth is projected to outpace economic growth, as outlays are expected to grow from 20.7 percent of gross domestic product (GDP) in 2015 to 23.1 percent of GDP in 2026.
Federal healthcare programs like Medicare, Medicaid, and Obamacare, plus Social Security, and interest on the debt are responsible for 83 percent of the projected increase in spending over the next decade.
Growing spending is driving deficits ever higher. Deficits are projected to reach the trillion dollar level by 2022 and continue growing from there. In total, the federal government is projected to rack up an additional $9.4 trillion in deficit spending over the next decade.
CBO projects that the debt will be $26.3 trillion by the end of the decade. The debt limit presents a decisive, action-forcing moment for Congress to put words into actions, and to pursue structural entitlement reforms that will put the budget on a lasting path to balance.
CBO projects that the debt will be $26.3 trillion by the end of the decade.
This means Congress must act, and soon – through charting a path to balance with the annual congressional budget. Then Congress must pursue its budget plan with implementing legislation.
Congress must use all of its leverage to prevent a fiscal crisis, during which investors would demand much higher interest rates to continue lending to the United States, from happening.
Default should never be an option. The Department of Treasury can prioritize debt obligations at the debt limit and Congress would just as soon grant Treasury Department additional flexibility at the debt limit to borrow for the purpose of preserving the full faith and credit of the United States of America.
Congress should reform entitlement programs and put the budget on a path to balance, before increasing the debt limit again.
http://dailysignal.com/2016/02/02/the-u ... -got-here/