Whatever: Frank always said we'd hear from Shabibi near the end, looks like he's ready to empty the clip on Maliki. This is probably the reason why Maliki falsely accused Shabibi in the first place causing the good Dr. S to flee Iraq for his life..Look what Dr. S knows!!
Waymaker: IMO if Shabibi is speaking out like this about Maliki then they have his file open and about to move him to his new 4x4 home! Then Shabibi will present the new CBI Gov!
We are in a time of ACCELERATION- spiritually and naturally. Get Ready!
Shabibi: Maliki wasted money to adopt a new home can accommodate 30-million
By Mohammed Emad 08.30.2016 03:58
Former Governor of the Central Bank of Iraq , "Shabibi" The Prime Minister and former leader of a coalition of state law , "Nuri al - Maliki" received more money than all the rulers of the Republic of Iraq "together" of Abdul Karim Qasim leader Saddam Hussein, and squandered.
Shabibi said, " The money received by al - Maliki was enough to build a new home can accommodate up to 30 million people will be security for all people in the world, noting that al - Maliki appointed four members of his ruling party big positions within the central bank and they are not Mnets with jurisdiction even influenced by the central bank and took random spread widely, and they Director - money laundering department, the director of the legal department, and director of banking surveillance, and Director of the economic Department, pointing out that corruption was rife within the central bank by colleagues in the party al - Maliki. "
Shabibi He noted that " the Director - money laundering department allocates money laundering Iraq in favor of the ruling party and legal director of the gloss upon the Director of the banks monitor traders taking sold dollars to private banks associated with the ruling party and the prime minister, less than the market amounts making Iraq millions of dollars lost per day because of this corruption and the smuggling of government budget funds abroad in favor of al - Maliki and Gelaozath. "
Shabibi said he "when he decided to change them came to him a letter from the prime minister prevented him from removal of these corrupt and between the lines of the book veiled threat, and that when the first elements of the corrupt gang is beyond mad Maliki issued by his partner and friend , " Medhat al - Mahmoud , " an arrest warrant after he was Switzerland will lecture about the new monetary policy within the international symposium for the International monetary Fund. "
Among Shabibi that "then appointed al - Maliki , his cousin called" on the Keywords , "central bank governor to plunder every provision of the Iraqi state in the amount of $ 67 billion in the last days of his dominance on the government to hand over power to" Haider al - Abadi , "and the budget for Iraq empty and the Reserve Central Bank ravished, to enter Iraq in a major financial crisis for the advancement of which can not after a decade even if oil prices improved today. "
Shabibi said that "al - Maliki receive more money than all the rulers of the Republic of Iraq" together "of Abdul Karim Qasim leader Saddam Hussein, was being investigated by any unfinished mention the Iraqi people and homeland, it was enough to build a new home according to the latest international standards , it can accommodate up to 30 million people living in it the welfare and stability will be security for all people in the world to live in. "
2cents: After Frank's call, I am confused on a few issues and hope someone can help. The first is that Frank said that Kuwait did not reinstate at 3+ and yet the New York Times ran a story that said they did. Why did the New York Times lie to the public on this issue???
AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks
By DONATELLA LORCH, Special to The New York Times
Published: March 25, 1991
KUWAIT CITY, March 24— It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.
Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.
Without electricity, the banks services were slow, limited to money exchange and withdrawal. There was no telex, no electronic money transfer and no telephones. The computers were unusable, so all transactions had to be entered by hand.
"It's like going back 20 years," said Mohammed al-Yahya, the manager of the Commercial Bank of Kuwait, the nation's second-largest bank. Seized Dinars Canceled
The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.
All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.
Although it is severly handicapped without electricity, the Commercial Bank, like many other major banks, was able to open for business because its records had been saved from the Iraqis. Mr. Yahya hid the bank's balance sheets in his home and sent its computer records to London via Syria with an Indian employee, who packed the tapes into the back of a trailer.
The banks also face serious personnel shortages. Only 11 of the Commercial Bank's 35 branches opened today, with 137 out of 1,300 workers.
Before the Iraqi invasion, only 17 percent of the bank's staff was Kuwaiti. Many of the foreign workers -- Jordanians, Palestinians and Indians -- fled and now cannot re-enter the country.
For those exchanging money today, there was little they could buy in Kuwait. Many of those in line said they planned to use their money for vacations or for shopping trips to Saudi Arabia to buy generators and food.
"I need to get away from this pressure," said Abdul Mohammed Hussein, a computer engineer in his early 40's who said he was withdrawing 1,500 new dinars to take a vacation in the United Arab Emirates. "Everywhere you go you find lines. At the supermarket, you find lines. To get petrol for the car, you find lines."
Abdul Hamed al-Atar, a 50-year-old retired Interior Ministry official, said this was the first time he had set foot in a bank since September, and he seemed relieved. "Kuwaits always keep a lot of cash with them," he said as he was handed crisp new piles of money that he stuffed into a small bag. "It's a comfort to have money in my hands."
Photo: As Kuwaiti banks opened for the first time in months, a group waited in line to change old banknotes for new. New currency was printed to replace stocks of previous notes looted during the Iraqi occupation. (Agence France-Presse)
Frank26: Dear Friend ................ This is from 1991 and YES ................. That was the official rate back then for KW............ Just after we went in and re-opened many things. After they re-opened the banks with our security .......... Rate adjustments occurred.
I TALKED OF 1999 AND SAID SO........... They placed the KW dinar back into the open market at 1 to 1 with the UDS.
I am not confused NOR confusing as some would have me.
Be Blessed......... \m/ KTFA Frank
IdahoUSA: Singapore Invests in Vietnam’s Largest Bank The Government of Singapore Investment Corporation is the largest shareholder of Swiss bank UBS. Now the sovereign wealth fund plans to acquire a 7.73 percent stake in Vietnam's largest bank Vietcombank.
Emailed to Recaps:
Bluwolf: We are still on high alert, sorry but I cannot speak out what I know. Good evening, we are almost there just one more hurdle.
RaginCajun: September is packed with plenty of surprises that could shake up markets
Patti Domm | @pattidomm
The relatively quiet markets of summer are about to get a wakeup call.
July and August have been mostly good for stocks and bonds with the S&P 500 hitting new highs and rising 9 percent above its late June low. Bond prices have held at rich levels, as yields stayed super low. But that could all be about to change when markets enter September — a month that will be big with central bank meetings and other events that could challenge expectations.
"I think it's potentially a turning point for volatility. Volatility was very low over the course of the summer," said Jeff Kleintop, chief global investment strategist at Charles Schwab.
It is also a time when markets could start to focus on the presidential election, and if Republican Donald Trump gains momentum, analysts expect volatility. The first debate between Trump and Democrat Hillary Clinton is on Sept. 26. Oil could also be a big story for September, with OPEC and non-OPEC members meeting in Algeria at the end of the month.
September is a month that will put the course of central bank easing to the test with the Fed meeting Sept. 20 and 21, the same days the Bank of Japan meets. The BOJ is expected to unveil a review of its own extreme negative interest rate policies. The Fed is not expected to raise rates that at that meeting, but market odds have been rising to as high as 40 percent that it could, after comments from Fed officials at their Jackson Hole, Wyoming symposium last week.
That means the August employment report on Friday could provide a pre-Labor Day surprise for markets, since the data carry the most weight for the Fed's decision and market expectations about the Fed. While economists are still leaning toward December for the next rate hike, they note the chances are higher for September should the jobs report come in much better than the expected 180,000 nonfarm payrolls.
"After Labor Day, a lot of people better come into work ready. It's been almost too sleepy a summer," said Sameer Samana, global quantitative analyst at Wells Fargo Investment Institute. "It's probably about time we all sharpen our pencils a bit and look at all the things that happened over the last three months. They're all events that have long term implications, but very few short-term implications. It was easy to dismiss them out of hand."
"On Tuesday, you'll start to see how the real money views, not only the payrolls report, but I would throw in Jackson Hole and Brexit," said Samana.
Brexit, or the U.K.'s vote June 23 to leave the European Union, ripped markets briefly, before investors adjusted to the idea that it would not be an immediate split. The Bank of England has promised more easing, and its Sept. 15 meeting is being watched for a possible rate cut. The European Central Bank was also expected to keep an easy hand on the tiller, and when it meets in the coming week, it could detail what other type of assets it will buy.
The central bank meetings are important since it was the promise of easing that sent the markets smoothly sailing through summer, after June's washout. The time is getting closer to when the Fed will break away from the pack and tighten policy again.
"I think in September, in general, you're going to see volatility going up because not only the Fed could hike, but I think there's a chance the ECB and Bank of Japan could disappoint," said David Woo, head of global interest rates and foreign exchange strategy at Bank of America Merrill Lynch.
Woo said the easy money policies have encouraged investors to jump into the most crowded trade. That is the risk parity trade, where investors are long stocks and bonds, expecting both to rise in a low rate, easy policy environment. But he said the presidential election could shake that up, if it creates volatility, and that could send investors to the exits in both asset classes.
"We were all positioned for lower forever, and they're going to have to unwind some of that. If the economic data improves, it's going to put pressure on the Fed," Samana said. "They don't have to hike aggressively, but they will have a tough time explaining why they are close to zero."
He is also worried about crowded positioning. "Whether you're looking at the February or the Brexit lows, there's been a very big change in flows and sentiment," Samana said. "We've seen a lot of flows into the riskier parts of the market. We saw flows into high yield, emerging markets debt, emerging market equities. ... There's been this huge reach for yield. ... What's more worrisome to us is how everyone is leaning on the same side of the boat."
So, it could be the central bank meetings that send ripples to markets if they fail to meet expectations. JPMorgan economists changed their call on the ECB meeting. In the last several days, they said they no longer look for a deposit rate cut of 10 basis points or an official extension ofquantitative easing beyond next March. They say they no longer see a rate cut "as the ECB is unlikely to feel enough pressure from the current growth data or from the currency."
"While it is a close call, we now expect the ECB to buy time with a sufficiently dovish statement in September, essentially hinting that QE is likely to be extended," the economists wrote.
Samana also said disappointment with central banks could be a theme for September, with the Bank of Japan possibly falling flat after BOJ Governor Haruhiko Kuroda built up expectations when he told the Fed at Jackson Hole that the central bank could do more quantitative easing and take yields further into negative territory.
"If you want to talk about folks that have raised the bar way too high, you have the Bank of Japan. That's on September 21. It's hard to make a speech like that and exceed market expectations," said Samana.
Before the central bank meetings, there is a G-20 leaders meeting in China on Sept. 4 and Sept. 5, the U.S. Labor Day holiday. That could be interesting for currency markets since the G-20 finance leaders are believed to have agreed not to engage in competitive devaluations.
China's sudden devaluation of the yuan last August rocked markets, and the currency has begun to slide recently. Also, dollar/yen has dipped below 100 and could be poised to go even lower. The strong yen has been seen as a threat to the Japanese economy, which is heavily dependent on exports.
"The currency markets have reacted in just the exact opposite way that central banks wanted them to," said Samana.
Woo said besides the impact of central banks, the U.S. election already has had an effect. He said the U.S. stock market is pricing in gridlock, with a Democrat president and split Congress, meaning a Clinton win. That gridlock keeps the Fed in play longer, as Washington would be unable to make much change in policy as is currently the case.
Kleintop said the election could become a negative factor if the polls narrow, and challenge Clinton's lead. "In five of the last 10 elections, the loser was ahead in the Gallup polls as late as the last week of October," he said. "The market could be shaken."
Strategists say the market is more comfortable with the idea of Clinton since she is well known and it would retain the status quo in Washington, while Trump brings a high level of uncertainty. "I think you'll see investors more sit on their hands and get a little worried if the race looks tighter," said Kleintop.
Sameena is cautious. "Considering we're at all-time highs on bonds and stocks, if you look at yields and prices, it's not a bad time to have little bit of dry powder. This is not us calling for a change in trend. It's just us saying, be ready for another opportunity like February, a 3 to 7 percent decline in some of the risk assets," he said. "I don't know if it will happen in September, but I would say the odds are higher over the next six months."
Crude oil prices could come under pressure in September as refiners take operations off line for seasonal maintenance ahead of winter fuel production. That requires less oil sales to refineries, which also have been working through a glut of refined product. The prospect of an oil production freeze from OPEC has helped support prices, but many analysts do not expect a deal, since they've failed before. That could drive oil lower.
If OPEC and other producers were to agree to freeze production, it would be at a time when some producers are pumping record amounts of oil and it may not do much to support the price. If oil declines because of no deal, it would create another risk for stocks, which have been sensitive to oil prices as they get closer to $40 per barrel.
"I think the technical tone, not only for U.S. stocks, but emerging market equities as well has really deteriorated. You'd expect people to take some profits on the summer rally of risk assets," said Marc Chandler, chief currency strategist at Brown Brothers Harriman.
Kleintop said another factor for stocks could be the pre-announcements from companies ahead of their third quarter earnings reports.
"We're heading into pre-announcement season. Right now, the difference between the next 12 months earnings growth and the last 12 months is the biggest since 2009," he said. "Analysts are more optimistic on forward earnings growth than they have been for a long time." Yet to be seen is whether companies are as optimistic.
What to watch in September:
Sept. 2 US August nonfarm payrolls
Sept. 4, 5 G-20 leaders meet in China
Sept. 8 European Central Bank meeting
Sept. 15 Bank of England meeting
Sept. 20, 21 Federal Reserve FOMC meeting , Bank of Japan meeting
Sept. 26 First presidential debate
Sept. 26-28 OPEC meets non-OPEC producers at energy conference in Algeria