BWM post 3sintel 7:40 pm CST
BWM: I am still constantly amazed at the consternation that follows the rooms every day at the events that are tied to Iraq... I had a conversation with a couple of ppl last night and made the following predictions 1) budget would be kicked down the road, 2) that we would hear nothing about the IMF payments... and today we sit with the budget now being "pushed" to monday and here we go again... let me reiterate... in the case of us exchanging our dinar... ignore the theatrics of parliament
BWM: so what are you looking for going into next week...
BWM: first... don't "expect" to SEE the budget in iraq until an rv (if we do SEE the budget before the RV, that's another conversation) secondly, in regards to the U.S. budget... the sequester will come up and you will see the dems push very hard to "throw" up a something that the GOP will deny thereby giving Obama an excuse to blame the GOP for something that he actually started...
BWM: third, when will we hear something about the payment to the IMF? well you could get the "glancing" media story that basically says "blah, blah, blah, blah, blah" or we could get some ugly news that yet another extension has been granted... IMO this would be bad on a couple of accounts because it would make the IMF look weak (again) and give yet one more excuse to watch the can pick up steam as it gets kicked down the hill...
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puppygirl: BWM what is a sequester please?
BWM: puppygirl congress and the budget fiasco
BWM: puppygirl cuts to federal spending such as medicare and armed forces... inability to pay our bills
puppygirl: BWM so how does the sequester thingy fit in with our interests in IQD?
BWM: puppygirl it's just another crisis that has to be dealt with... again, when you use the word crisis and government together that usually means someone "created" the crisis
dietcokeandice: BWM when you speak about IMF payments would explain what you mean by that ---I don't understand
BWM: dietcokeandice a large payment was due today or Iraq would default on the paris agreement and be responsible for the 80% of the debt that was forgiven
dietcokeandice: BWM whom was the debt forgiven
BWM: dietcokeandice a number of countries "forgave" 80% of the funds Iraq was due to pay back
dietcokeandice: BWM Back when Bush was President
BWM: dietcokeandice the amounts were basically forgiven and continued even up to about 3 years ago... I don't have the exact dates handy
[ofish] BWM i have a ,? iraq sells oil in usd, so why do they need 2 change ther statis , just bein the devils advocate
[BWM] ofish they need to get rid of the dollar in order to establish themselves on the global market...
[puppygirl] BWM last time Paris Agreement due dates came up was June 2010. RV had to happen to allow Iraq to make the payments.
[BWM] puppygirl hey that's about 3 years... well apparently I'm not senile just yet
[dietcokeandice]: BWM Back when Bush was President
[BWM] dietcokeandice well if they truly "defaulted" then the 80% that was forgiven would be reinstated and due to the countries that forgave the debt...
[BWM] dietcokeandice the amount would be insurmountable under normal economic conditions within any time in the near future
mamari4: BWM so no "talk " just yet....
BWM: mamari4 not yet...
dietcokeandice: BWM i had been thinking today in reading post about what you said about Iraq pushing the budget down the road day by day
BWM: dietcokeandice and your thoughts were?
dietcokeandice: BWM that the Parlliment was playing hide and seek
dietcokeandice: BWM and I (we) are it
dietcokeandice: i am old and get tired of running around trying to tag them
BWM: dietcokeandice does it really make sense when you look at the details? I mean let's print article after article of how we've agreed on something and then no one shows up to vote... or we decided that we didn't like the way someone's skirt, er, robe looked and walked out
dietcokeandice: BWM exactly but before you made me think ---i thought those guys need to grow up but now think they are playing
BWM: dietcokeandice and to think... you get PAID to NOT show up for work... it's almost like welfare
[dietcokeandice] BWM does this not seem odd that knowing this the rv has not happened so they can pay the payment
[BWM] dietcokeandice they've had the good fortune of the IMF allowing them to push the payments off through extensions... which they have said they would not allow this time
dietcokeandice: BWM So un your opinion what happens next
BWM: dietcokeandice you won't see the budget "passed" (ie. announced) until the RV... IF we SEE (and I mean it's publically printed) the budget with no rv then they would have given up on the idea that it could happen now IMO
dietcokeandice: BWM The rv not happening now
BWM: dietcokeandice don't panic just yet... again, if it goes the way I think it will then we still have an open opportunity
dietcokeandice: BWM good i am sorry for all the questions i just am very interested in learning all i can about this world changing event
BWM: dietcokeandice absolutely no problem...
[Rickylee]: BWM unless they are not asking for the extensions! Hmmmm?
[BWM]: Rickylee they asked... supposedly denied
BWM: it's still amazing to me that ppl who have given absolute, gotta happen by, no doubt, my best contact said it's going down tonight have continued to spew the dates with the constant idea that their "intel" is the ONLY one to listen to or the BEST there is... my contention is still that if someone is giving you when this will happen by 5 minutes before it happens... they are doing it to glorify themselves and have no interest in your well being whatsoever... and we have way too much of that going on... and way too short memories IMO...
BWM: ppl say i'm a basher and all I ever do is come into rooms and create problems... when all I do with others is post their exact remarks and they don't like it... as I've said in the past... if you don't like the post of yours I've posted, then don't post them to start with and you won't get ticked off....
dietcokeandice: BWM if the IMF is in charge why would the Chinese have more weight in this than say US
BWM: dietcokeandice ppl tend to believe that the chinese hold our proverbial debt in their hands when the amount of debt held by the chinese is relatively miniscual in the big picture... but, on the back side of the picture they are major players in the global economy when you consider the amount of power they control through labor and economic deals
wittsend: BWM I hear you, but I have always had a hard time thinking that the Chinese have as much influence on this this as we do.
BWM: wittsend lots of backdoor deals... especially when they would like nothing more than to see the petro dollar die...
wittsend: BWM You have a point there but the Saudis are not in favor of seeing the petro dollar decline in use, and they hold much sway in the ME.
BWM: wittsend big battle... OPEC still benefits from petro dollar... and considering that Iraq wants leadership within that organization with their standing of oil reserves
BWM: well folks... calls to make and stuff to do... y'all have a good one... and NO don't buy into anyone telling you it's gonna show at forex open tomorrow...