Ishman: What is the Connection between the RI / RV and the 2015 Budget? Another answer in plain sight...
What is the seemingly, vague connection between the RI / RV and the release of the 2015 Budget?
The release of the 2015 Budget will include a deficit, and this deficit must be funded by some means. If it were funded by debt based upon the 1166 program rate IQD, Iraq's and the CBI's efforts to delete the zeros (remove the large IQD notes from circulation) would be undone.
Like John Belushi in Animal House, "7 years of college down the drain," Iraq would lose the last 2 - 3 years of effort to clean up the IQD in circulation.
If the deficit were funded in USD denominated debt, the CBI's accumulation of USD reserves to support their RI / RV would be undone as well.
So the release of the RI / RV together with the 2015 Budget resolves the funding of their deficit with IQD denominated bonds at the new rate.
And the CBI yesterday (in the news) discussed the issuance of bonds which would reduce the IQD in circulation by 5 Trillion.
Where are some 1.5 to 2.0 Trillion of IQD hanging around, looking to be exchanged? Somebody will happily buy the bonds from Iraq, providing the USD to deliver to you and me with our exchange. How's that for CBI planning and implementation?
There you go. The RI / RV logically "must" be released concurrent with release of the 2015 Budget, or years of work, like Belushi's college, would go down the "drain."
EXOGEN January 28, 2015 at 9:32am
BRICS TO LAUNCH NEW CREDIT RATING AGENCY
HealthyDoc > EXOGEN Wow! Those BRICS are serious about making this a fair process for everyone. So happy to see it.
Ml > EXOGEN It is sorely needed. Buy a rating has NOT worked out so well...
EXOGEN January 28, 2015 at 10:12am Analysis The spreading alchemy of central bank money-printing
Money for nothing and recovery for free? U.S.'s economic turnaround pulls EU into the pool
By Neil Macdonald,
CBC News Posted: Jan 28, 2015 5:00 AM ET Last Updated: Jan 28, 2015 5:01 AM ET
Poppy3: MANEUVERS TAKING PLACE FURTHER CLEARING THE WAY FOR A NEW RATE...
AS ALL CAN PLAINLY SEE THE NEWS IS AND HAS BEEN FOR A MONTH ALL DIRECTED AT IRAQ FINANCE AND STABILIZING THEIR ECONOMY TO JOIN THE GLOBAL MARKETS AND HELP 20 PLUS OTHER COUNTRIES FURTHER STABILIZE AS WELL.
THEY IN THE FUTURE WILL BE THE FINANCIAL MECCA OF THE WORLD.
THATS WHY I INVESTED 11 YEARS AGO AND THAT FACT HAS NEVER CHANGED.
Frank26: WALKINGSTICK...... On Monday I told You the CBI was going to TALK the next day
Then yesterday Tuesday CBI SCREAMED.
WALKINGSTICK....... Now watch the GOI do the same over weekend.
Have a Wonderful day KTFA Family........ M CC we too SCREAM MORE LOL!
KTFA CHANGES IN THREE WEEK INTO AN INTERNATIONAL WORLD.
Aloha oi. KTFA Frank
walkingstick » January 28th, 2015, 10:57 am
Out with the old: 8 designs that rethink the U.S. dollar By Brandon Widder -- January 28, 2015
aggiedad77 » January 28th, 2015, 11:39 am
Here comes the budget.....patience becomes a virtue.....it appears that Thursday's Parliament session will be very interesting.
The meeting's agenda No. (9) Thursday (29) January 2015January 29, 2015
Third parliamentary session
The first legislative year
Legislative Chapter II
First, read verses from the Koran.
Second, the vote on the draft general budget of the Federal Act of 2015 ( the Finance Committee ). (Article 41).
Third: Hosting the Minister of Interior.
Session begins at: eleven in the morning.
Walkingstick: January 28th, 2015, 10:44 am
Currencies Hit as Monetary Policies Shift
Central Banks’ Moves Are in Response to Stronger U.S. Dollar, Threat of Deflation
Updated Jan. 28, 2015 6:44 a.m. ET
A surprise move by Singapore to ease monetary policy sent the city’s currency tumbling to its lowest level in over four years Wednesday, the latest action by central banks around the world struggling to cope with a surging U.S. dollar and the threat of deflation.
Currencies have slumped across Asia in recent months as countries from India to China rushed to cut interest rates to fight spluttering economic growth. The hope is that weaker foreign-exchange rates will boost exports while also pumping up the prices of imported goods to help stave off deflation and slumping demand.
For Singapore, the central bank changed its policy outside of its usual meetings for the first time since October 2001, underscoring policy makers’ swift action to counter sliding oil prices and an increasingly uneven global outlook.
Elsewhere, China’s yuan is at its lowest point in seven months as Beijing switches policy and deliberately guides it lower. In Malaysia, a favorite of foreign investors because of high yields, the currency has plummeted 14% in the past six months amid falling oil prices.
Meanwhile, the Bank of Japan ’s move last October sent the Japanese yen to its weakest level in almost eight years, spurring tensions with its trading partner South Korea.
“With the policy response far from comprehensive in these countries, the exchange rate-monetary policy nexus is carrying the bulk of the adjustment burden,” said Mohamed El-Erian , chief economic adviser of Allianz SE and former chief executive of Pacific Investment Management Co., one of the world’s largest money managers.
This, he said, is having significant spillover effects on countries and companies, with wild currency swings eating into their profitability.
Over the past six months, more than a third of the countries in the MSCI index have cut rates, according to analysts from Bank of America Merrill Lynch. Still, they said that central bankers around the world are underestimating the threat of deflation, adding that over three quarters of developed markets today have inflation under 1%.
In some respects, however, 2015 has been more about central bank volatility than divergence, said Scott Thiel, head of the global bond team at Blackrock, which has $4.6 trillion under management. Mr. Thiel said that because quantitative easing programs by central banks have been so large and pervasive, any unexpected central bank moves add volatility.
The divergence in monetary policies between the U.S., which is leaning toward raising rates, and most of the rest of the world has so far sent major currencies down 15% since the dollar began its ascent in July last year. And, the magnitude of swings in currencies, based on the Deutsche Bank Currency Volatility Index, a broad gauge of expectations of price swings in nine major currency pairs, is trading at its highest level in over 2½ years.
“The ‘fear of the Fed’ has been a significant factor affecting Asian currency markets over the last six months,” said Jason Daw, head of Asian foreign exchange strategy at Société Générale . He said that surprise policy measures create more uncertainty and higher volatility, and make the trading environment difficult.
jdtolle » January 28th, 2015, Something new
Today is a day for something new in your life. Think of what it could be.
This is a new, original day. So celebrate it, honor it, and live it with new, original experiences.
You’re only stuck in a rut to the extent that you allow yourself to be. On this beautiful, unique day, go beyond everything you’ve done before and put some new, meaningful substance into your life.
That doesn’t mean you have to do something that will be reported on the local news. It just means that you have the opportunity to add a new flavor of richness to this experience that is your life.
Think of all you love, all you care about, all you desire and wish for, all you value, and all the things you’re curious about. Go ahead, take a step you’ve always wanted to take, and explore an aspect of life you’ve always wanted to know more about.
What a shame it would be for today to be an exact copy of any other day. This is your chance for something new, so take that chance, get out of your rut, and experience the wonder of existence in a way you’ve never known before.
— Ralph Marston Wishing All a safe, warm and blessed day JDT