Iko Ward: Guys, I just got back in to the dock. Has anyone reported that Forex jumped 50 points to match the CBI rates? This is a stupid crazy as last nights Chinese bump.
Totally Blessed: Iko, that sounds like good news to a novice like me. If you are excited, we all should be
Iko Ward: Well, if we are following the movement, let's just say the Dinar just took a very large movement
Pe2las: IKO...sounds like confusion in the air
Iko Ward: Yes, and we like confusion
LadyB22: Iko, what do you think this means?
Iko Ward: Lady, what Pe2las just said. there is confusion and significant movement. This is good.
LAdyB22: TY, Iko. I pray it is big enough that they can not wait until the 14th or 15th.
Silverbelt: Interesting Post RE Keeping Money Safe Beyond FDIC Limits: http://money.stackexchange.com/questions/27401/how-do-rich-people-guarantee-the-safety-of-their-money-when-savings-exceed-the
Iko Ward: Well, Mr. B ( a intel provider on Open Mic) thinks it';s going any time but the 17th is a big back wall. He's a very knowledgeable and logical guy. I tend to side with the illogical on this ride and put more weight on what Tony is actually hearing.
Firefly: "Breaking News CBI Governor assures agreeing with Banks Union on unified exchange rates...Published: 2015/6/20" WOW!
Q: [that was in june?]
Q: [so we have a rate, we just don't know what it is?]
Firefly: Appears so. Folks, a monetary reform doesn't happen with a push of a button...It's a process. They got the Green light on March 3rd. You folks really think Iraq shredded it? ...study your history, study your economics, Follow the CBI.
Q: [so is there a way M (Maliki) can stop this all from happening?]
Firefly: NO! How can he? You cannot stop a monetary reform...it is a way of life! Problem being ...EVERYBODY WANTS A DATE!
Q: [But...On the news they are still talking about ISIS and oil prices dropping.]
Firefly: Yes, Iraq has to move and fast!
BGG Several major laws on deck for next week... Anti-Money Laundering Law... Investment Law...and National Guard Law - (plenty of ink on all three)...The bonds are a huge failure so far. They got a not so great credit rating... again.
Q: [Will a currency rate increase make bonds successful IYO.]
BGG: not really - (it might help) ... but the point is - the bonds wouldn't produce the dough they need. A currency rate would...at least bridge their short term budget issues...
Q: [Do you think Abadi is coming here to promote the bonds this week?]
BGG: I don't - bonds won't save them...it's something else...
Frank26: There will be no CC tonight.......... TINK is being admitted in the hospital to stay over night.
Please stay in Prayer for my wife...... Amen.
Looks like TINK has a kidney infection.
i let it go too long before getting help
TINK'S fever is gone........ But doc wants her to spend the night to hydrate and slow drip of antibiotics. i agree.
Walkingstick: Iraqi Bonds Struggle to Attract Investors
Arif Sharif and Lyubov Pronina | 07-09-2015, 07:56 AM | Iraq |
Conflict and low oil prices may drive down prices
Iraq’s effort to enlist bond investors in its fight against the self-proclaimed Islamic State and a collapse in the price of crude won’t come cheap. The Gulf nation’s first trial in the Eurobond market in almost a decade means it may have to pay “double-digit” interest to lure investors, says Morten Bugge, who helps manage about $2.5 billion of emerging-market debt at Kolding, Denmark-based Global Evolution.
Iraq announced a $6 billion bond programme on 18 August and may hold sales meetings with international investors as soon as this month, people familiar with the matter say. “It’s an oil exporter with ISIS in their backyard which weighs negatively on the bond sale,” Bugge, Global Evolution’s chief investment officer, says.
Iraq has been struggling to contain the expansion of the Islamic State’s foothold a year after the radical Sunni group took the nation’s biggest northern city, Mosul, and captured Ramadi, the capital of Anbar province, three months ago. The government is borrowing to close a budget shortfall as
the fight against terrorism and oil’s decline by around 50 per cent in the past year sap government finances.
Compounding risks for investors is a selloff in commodity-exporting nations following mid-August’s yuan devaluation, while the Federal Reserve prepares to raise interest rates from near zero, Bugge says. Middle East and North African countries are issuing bonds this year at the slowest pace since 2011, according to data compiled by Bloomberg. “I am sure Iraq would wish for better timing,” Bugge says.
The yield on Iraq’s only international bond jumped to a new high for the year on 20 August, climbing 19 basis points to 8.73 per cent. The country had to seek $1.24 billion of emergency financing from the International Monetary Fund in July after oil prices slumped to their lowest in six years. Crude contributes about 40 per cent of economic output. “Iraq’s rating is very good in the current circumstances,” Majid Al-Souri, a board member of the Central Bank of Iraq said on 19 August. “It has huge fortunes of oil and gas and it can’t go bankrupt,” which will reassure investors, he said.
Fitch Ratings expects the country’s fiscal deficit to top 10 per cent of gross domestic product for 2015 because of lower crude prices, higher military spending and costs associated with the civil unrest.
Islamic State’s presence has put political risk in Iraq at the highest among any sovereigns it rates, Fitch said in August after it assigned the country’s bonds a speculative grade of B-. The assessment is on par with Cyprus and Jamaica and two levels above Greece and Ukraine.
The country’s foreign-currency reserves may drop to about $45 billion by the end of 2016, according to estimates by Exotix Partners. “Iraq is probably the most oil-dependent country in the world, so falling oil prices, really, really hurt this country,” Jakob Christensen, a London-based director at Exotix, says. Reserves “could drop significantly over the next two years if oil prices stay low and they don’t adjust,” he says.
- See more at: http://www.businessweekme.com/Bloomberg/newsmid/190/newsid/1067/Iraqi-Bonds-Struggle-to-Attract-Investors#sthash.Xh6dfEln.dpuf
JDTolle » September 7th, 2015, Seeing life in a new light
Your perspective is valuable. Changing it can be even more so.
Looking at the world from where you are, you see many useful things. Looking at it from somewhere else, you can see many more.
Habits, assumptions, and expectations support you and can serve you well. Sometimes, though, they can hide your best possibilities from you.
Every so often, choose to get away from the comfortable and expected. Give yourself a better idea of how life can be when it is not what you think it is.
Step away from what you always do and discover some things you never knew. Decide to take a different path, and even to venture down some of its side roads.
Give yourself the experience of seeing life in a new light. And you will illuminate a whole new set of great ideas.
Ralph Marston Wishing All a safe and blessed labor day JDT
P.S. Most folks are about as happy as they make up their minds to be. -- Abraham Lincoln