tman23 ; 4 moves by Abadi that cause reason for concern.
1) He made a televised address stating he paid the Kurds in full for their oil and does not know why they have not paid their peoples salaries...
2) At the Paris security summit he asked for Iran sanctions to be lifted, which was completely inappropriate!
3) He went and visited Russia to seek military weapons
4) He just went to Tehran and met with Rhouaini for future trade deals...
Must admit that all 4 of these moves are questionable...and quite frankly they are moves that are favorable to Iran more than the G19 countries...
Q: [why would Abadi ask for sanctions to be lifted for Iran? well IMO I think he is still a great leader/Prime Minister! but not sure what in the world he is doing?]
tman23: I could speculate on a number of reasons... But IMO...it is directly related to the lifting of the 3 zeros...
Iran wants to trade with Iraq but lifting the 3 zeros means there would be no parity between currencies...
Iran would have to live up to the nuclear agreement and any breach would keep sanctions in place causing more internal problems with the Iranian regime...
And we see Iran attempting to stall things until January...6 months until their sanction ease... Note that members of the PUK would like to hold the elections 6 months from now and not August 20th... This gets into detail...but the pattern is present!
Abadi is in a tough place...and he has to make a decision!
Is he for Shia interests first or for the people of Iraq as a whole. The Kurds are willing to be the co-partners and help him work through the process...
The next 7 days are vital!
I expect to see either reconciliation that includes some rolling heads... or separation...
I do not expect to see the status quo remain the same... Ramadan is meaningless right now...
Iraq is at the breaking point and they are running out of road to kick the can down.
Freedom: Puppet Masters: IMF "trained" Greek journalists in Washington D.C. to spin stories ...
AlexrptRed Pill Times Thu, 18 Jun 2015 14:30 UTC
Greece's former representative to the IMF, Panagiotis Roumeliotis, has testified that Greek journalists attended seminars funded by the IMF and were instructed to present the IMF in a favorable light.
In what can only be described as a shocking testimony, Greece's former representative to the IMF, Panagiotis Roumeliotis, in front of the special parliamentary committee on the Greek debt, said that several Greek journalists were "trained" in Washington D.C. in order to support the positions of the IMF and the European Commission in Greek media.
Roumeliotis testified that...
"The IMF trained" greek journalists so that "Greek journalists can promote the positions of the IMF and the European Commission in Greek media."
According to Roumeliotis, the seminars and training classes took place in Washington D.C., as well as various sessions taking place in Greece.
Roumeliotis refused to disclose the names of the journalists involved, in what can only be described as overt and excessive western propaganda, bordering on illegal actions undertaken by the IMF and European Commission given the state of Greece's debt burden.
Parliament President and head of the committee, Zoe Konstantopoulou, noted that the committee investigating Greece's debt would seek to discover the names of the journalists that took part in Washington's training sessions.
Roumeliotis noted that when he was in Washington D.C. he accidentally met with Greek journalists who told him that they were invited to attend seminars on the function of the IMF. He said that the committee can ask the organization's Director of Communications Department, Gerry Rice, for a list of journalists' names who attended such seminars in D.C.
Konstantopoulou adopted the proposal and appointed a committee member to draft a formal request to the IMF...
"In Greece, certain individuals who work for the mass media were contracted to conceal the fact that the Greek debt was not sustainable."
Roumeliotis further testified that IMF head...
"Christine Lagarde and other high officials at the IMF contacted me before my testimony before the committee to remind me that members of the IMF are immune from prosecution."
Konstantopoulou named television journalist Yiannis Pretenteris as one of the journalists attending the IMF classes. According to Konstantopoulou, the popular Greek journalist admitted in his book that he attended the IMF seminars.
Roumeliotis noted that many journalists fell victim to the IMF's misinformation campaign, and that the omission of the fact that the debt was not sustainable was detrimental to public interest.
Roumeliotis went on to say that several economists and university professors also attempted to convince the public that the debt was sustainable...adding that he puts them in the same category as the journalists.
Who is Panagiotis Roumeliotis: A Greek economist, academic, banker and politician who served as Minister of National Economy, Minister of Commerce, Member of the European Parliament for PASOK and as Greece's representative at the International Monetary Fund.
Topic: God always strives together with those who strive. Aeschylus
Walkingstick » June 19th, 2015, 9:36 am
Governor of the Central Bank will hold a press conference tomorrow to explain the rise in the dollar against the dinar
6.19.2015 three thirty-six p.m. • [Baghdad-where]
Governor of the Central Bank of Iraq on the Keywords held on Saturday held a press conference to explain the rise in the dollar rate against the local currency.
An informed source told all of Iraq [where] that "the conference will be held in the Central Bank of the object building in Jadriya against the Babylon Hotel ten o'clock in the morning in the presence of the President of the Association of private banks for the purpose of clarifying rising dollar against the local currency as well as so special government measures".
saw prices dollar exchange in front of the dinar in local markets since Thursday, a significant decline, reaching about 1300 dinars to the dollar [130 000 dinars per hundred dollars] after he was before the days of 1500 dinars to the dollar [150 000 dinars for one hundred dollars.
He assured the Prime Minister Haider al-Abadi Wednesday the last of a case apprehensive about the exchange rate of the Iraqi dinar compared to the US dollar, saying "we will strike manipulators prices dollar with an iron fist," noting that "there is speculation and manipulation by corrupt and who want to influence the economic conditions and manipulation Bakot Iraqi people."
The Prime Minister Haider al-Abadi Wednesday chaired a meeting of the crisis cell has been studied in which the economic and financial situation and stressed during the meeting the need to maintain the dinar exchange rate against the dollar in local markets .anthy
Thunderhawk » June 19th, 2015, 1:56 am
Greece to Become Major European Oil Hub - Hellenic Petroleum CEO
ST. PETERSBURG (Sputnik), Anna Liatsou — Greece could become a major hub for distribution of oil resources in Europe, the CEO of the country's largest oil company Hellenic Petroleum told Sputnik Thursday.
"This is our only way through the future and we will do our best in order to establish it. Greece is the door, at least in the Southern Europe, and we are going to use it," Grigoris Stergioulis said, answering Sputnik's question whether Greece could become an oil hub.
Stergioulis said that many nations, including Russia and Arab countries, want to use Greece as a hub, and "we are trying very hard to establish kind of cooperation and to gain some time that was lost in the past."
Moscow and Athens are currently in the final stages of signing a deal on Russian gas supplies through an extension of the Turkish Stream, the proposed natural gas pipeline running from Russia to Turkey via the Black Sea, to the Greek border.
The planned Turkish-Greek gas hub is expected to pass up to 47 billion cubic meters of natural gas annually.
The extension of the pipeline to Greece was discussed earlier in the day by Russia's energy giant Gazprom head Alexey Miller and Greek Energy Minister Panagiotis Lafazanis at the St. Petersburg International Economic Forum.
Russian Energy Minister Alexander Novak said on Tuesday the sides were expected to sign an agreement on the construction of the Turkish Stream extension to Greece during the three-day forum.
Thunderhwk » June 19th, 2015, 1:59 am
Hellenic Petroleum to Benefit From Greece's Membership in BRICS Bank - CEO
Grigoris Stergioulis, the CEO of Hellenic Petroleum, country's largest oil company, said that BRICS New Development Bank (NDB)would be very useful financial tool in order for Greece to expand our works all over the world.
ST. PETERSBURG (Sputnik), Anna Liatsou — Greece's participation in BRICS New Development Bank (NDB), recently proposed by Russia, would be very beneficial, the CEO of Hellenic Petroleum, country's largest oil company, told Sputnik Thursday.
An agreement to establish the NDB was signed by BRICS member states, comprising Brazil, Russia, India, China and South Africa, in July 2014. The bank is expected focus primarily on funding infrastructure projects.
"BRICS [NDB] would be very useful financial tool in order for us to expand our works all over the world, and we hope that within BRICS, as soon as it is developed and we are a part of it, we will be able to finance many projects that are at the moment at the very serious discussion," Grigoris Stergioulis said.
In May, Russia invited Greece to become a member of the NDB, regarded as an alternative to Western global financial institutions, such as the International Monetary Fund (IMF) and the World Bank.
Athens is expected to discuss the option with BRICS representatives during the ongoing economic forum in St. Petersburg and upcoming BRICS summit, to be hosted by the Russian city of Ufa in July.
Walkingstick » June 19th, 2015, Greek banks: Athens’ Achilles heel
Ferdinando Giugliano, Economics Correspondent
Until this week, the big suspense surrounding Greece was whether Athens would be able to meet a €1.6bn debt repayment to the International Monetary Fund due at the end of June or go bankrupt.
But the fear of default is rapidly being overtaken by a separate — and possibly more dangerous — ticking time bomb: the solvency of Greece’s banks.
As anxious savers withdraw deposits, economists warn that Greece’s precarious lenders could collapse. During a meeting of eurogroup finance ministers on Thursday, Benoît Cœuré, a member of the European Central Bank’s board, speculated that Greek banks might not be able to open for business on Monday.
The European Central Bank has provided crucial, emergency funding to Greek banks that has sustained them in recent months. Yet as Greece’s finances continue to deteriorate, the ECB’s own rules may soon prevent it from extending further help, paving the way for a Greek exit from the eurozone.
“The fate of Greek banks hinges on political developments, which will affect both their liquidity and their solvency,” said Jonas Floriani, an analyst at KBW Research.
Analysts say Greek banks are vulnerable on three fronts.
The first — and most immediate — is a liquidity shortage. This means banks’ ability to honour short-term withdrawals is worsening as consumers and companies take their cash elsewhere fearing a forced conversion of their savings into a new, less valuable currency.
Domestic resident deposits have already fallen by roughly a fifth to just over €140bn in the six months to April, according to the latest Bank of Greece data, and analysts warn this trend has accelerated over the past six weeks.
Deposit outflows hit €1bn on Thursday alone and about €3bn this week, according to two senior Athens-based bankers.
As a result, Greek lenders are relying on ECB funding and, in particular, its emergency liquidity assistance scheme, which they have tapped extensively as other sources of cash evaporate.
Until mid-May, Greece’s four largest banks — National Bank of Greece, Alpha, Piraeus and Eurobank — borrowed more than €110bn from the ECB, including more than €75bn in ELA, according to estimates from KBW Research.
The ECB on Wednesday raised its self-imposed limit on ELA by €1.1bn, to €84.1bn, and then approved another modest increase on Friday - although less than the €3bn Athens had requested.
To qualify for emergency funding banks must be deemed solvent and also hold a sufficient quantity of high-quality securities to pledge as collateral.
While analysts believe that Greek lenders still have sufficient assets to post to the central bank, there are worries over their longer-term solvency.
This has to do with the second vulnerability of the Greek banks: their capital position. While Greece’s four largest lenders appear well capitalised — at least on paper — there are growing doubts about the quality of their assets, which stand to be severely damaged in the event of a government default.
One weakness is their holdings of Greek government bonds. The four biggest banks hold nearly €15bn in such securities, whose value would take a significant hit in case of a missed payment to the IMF.
A large portion of their capital is also comprised of so-called deferred tax assets, which allow banks to accumulate future tax credits from the government when they incur losses. In the case of Eurobank, DTAs are estimated to make up almost 90 per cent of the bank’s equity. For other large lenders, they account for about 50 per cent.
“Reported capital levels look comfortable on a static basis, but the quality is more questionable and heavy DTA usage is worrying,” said Alicia Chung, an analyst at Exane BNP Paribas.
The ECB, which recently became the regulator of the eurozone’s largest banks, has already voiced concerns about DTAs. Any default would make these assets even harder to accept at face value.
Finally, Greek banks are suffering from a progressive worsening of the economy, which has slipped back into recession in the first quarter of this year after a tentative recovery in 2014.
As conditions deteriorate and more consumers and businesses fall into arrears, the proportion of bad loans on the banks’ balance sheets is mounting. A default would only worsen this trend, making their capital position even shakier.
“The prolonged uncertainty and long-lasting funding squeeze will probably put further pressure on the economy, resulting in . . . further asset quality issues,” said Margarita Streltses, an analyst at UBS.
Were the ECB to deem Greek banks insolvent and suspend ELA, analysts believe the government would have no option but to impose capital controls.
Greece may then confront an ugly choice between “bailing in” depositors to recapitalise the banks, as Cyprus did in 2013, or start printing a new currency to provide lenders with fresh liquidity.
jdtolle » June 19th, 2015, The value of what you give
What is really valuable is not anything you get. What brings the greatest value to your life is what you give.
The investment of your time, effort, attention and caring, makes life rich. That richness comes not from the results you get, but from the degree to which you give.
Having the opportunity to give your love is far more valuable than having love directed toward you. If all the world loved you and you had nowhere to direct your own love, life would be unbearably empty.
So love, without expecting love to be returned. Give, not because of what you will get but because the giving itself is so fulfilling.
Take the fulfillment to an even higher level by encouraging and enabling others to give as well. Allow yourself to be loved, as a way for you to deepen your love for others, giving them the opportunity to love.
Live richly by giving the unique richness already inside you. Give of yourself, sincerely, continuously, and experience life from its most fulfilling perspective.
Ralph Marston Wishing All a safe and blessed day/weekend JDT
P.S. The will to win is not nearly as important as the will to prepare to win.-- Bobby Knight