DELTA » February 23rd, 2015, 4:21 pm FRANKIE FRANKIE...GOT UR MSG BROTHER ..I WILL JOIN U TONIGHT .
NO MORE CURRENCY AUCTIONS PERIOD!!! I WILL TALK ABOUT IT TONIGHT. DELTA
ZOCHOWSKI » February 23rd, 2015, 3:55 pm WITH ALL THE TALK BOUT BEING "SHORT" ON BUDGET DEFICIT...........
DOES ANYONE FIND IT ODD THAT LAST WEEK OIL WAS "UP" FROM THE STANDARD $56 PER BARREL WITHIN BUDGET.............
MONDAY/16TH THRU THURSDAY/19TH.........
IT WAS UP $58 TO $62 PER BARREL AND THURSDAY IT DROPPED DOWN TO $59................NOT SURE WHERE IT IS TODAY............ANYTHING ABOVE $56 WOULD BE A SURPLUS, CORRECT??????????
AM I THINKING OUTSIDE THE BOX AGAIN??????????
AGAIN, WOULD THIS INCREASE IN OIL REVENUE BE A "SURPLUS" ABOVE THE BUDGET STANDARD OF $56 PER BARREL????????
AM UNDER THE IMPRESSION THAT THIS "SURPLUS" OF OIL SOLD AT ANYTHING ABOVE $56 PER BARREL WOULD OFFSET THIS "DEFICIT" THEY SEEM TO BE WORRIED ABOUT................
ANYWAY, HEADING BACK TO THE MEADOW............HAS ANYONE CONSIDERED THIS OR AM JUST A DUMB OLE SENILE TURKEY.......
WILL GO BACK TO TALKING TO MYSELF....
walkongstick :Budget law enters into force after its publication in the Iraqi Gazette
Parliamentary expanded government meeting with the Central Bank to discuss ways to finance the budget deficit
Editor Mohammed Shafiq - Monday, February 23, 2015 18:18
Alsumaria News / Baghdad
The Ministry of Finance, on Monday, an expanded meeting with the Finance Committee in the House of Representatives and the central bank managers and a number of banks to discuss ways to finance the budget deficit.
The Finance Ministry said in a statement, "Alsumaria News" received a copy of it, "Finance Minister Hoshyar Zebari discuss, today, with a number of senior government officials, parliamentarians, directors of banks ways to finance the budget deficit and plans of the Ministry for the implementation of the budget law after its publication in the Official Gazette (Official Gazette) ".
The statement added that "the meeting was attended by Minister of Planning and the central bank governor and directors of banks, Rafidain and Rasheed and the Iraqi Trade Bank, and the chairman and members of the Finance Committee in the House of Representatives and the President of the advisory board of the Council of Ministers," noting that "During the meeting, they discussed the financial liquidity crisis and the rationalization of expenditures and ways to finance the fiscal deficit and the completion of obtaining loans from banks and measures. "
The ministry said in a statement that he "was at the meeting and after crystallization number of ideas and proposals for the future provision and maintenance of financial liquidity to meet the basic needs of citizens, and to support the military and security effort to counter terrorism distinct discussions."
The House of Representatives voted in (January 29, 2015), the draft federal budget for the current year worth in excess of Al119 trillion dinars and a deficit of about 25 trillion, and set the price of a barrel of oil at $ 56. LINK
OMEGA MAN February 23, 2015 at 2:02pm yes budget was posted in Iraqi Gazzette, next is RI tomorrow and RV should happen sometime between Wednesday and Sunday evening. Then all will start.
Carden > OMEGA MAN February 23, 2015 at 2:08pm
NICE, OM, BUT WHY HAVEN’T THE PRIVATE GROUPS STARTED YET? And, how can you be sure this will be The Week for Real?
Experience tells me that the contracts (for privates) were negotiated long ago and subject to actionable items/triggers and with penalties for inaction/default; which is typical of a contract of this nature. Let's take a walk (and only with our wild-ass-conjecture) and think about this a bit.
These contracts have steps: a, b, c, d, e, f, etc., all strictly defined and with deep-level subsets, (a1, a2, etc.). This agreement typically goes through several negotiated drafts moving back and forth until approved by both parties and once approved are signed, witnessed and then the contract is lodged with the bank for delivery.
WE ARE AT THIS STAGE NOW AND HAVE BEEN FOR OVER 2 YEARS (2013?). Right?
The instruments/assets are verified and credited for this contract by the bank and in this case, Wells Fargo? …International division? The guaranteeing account is "blocked" (and has been blocked for a long while, again just guessing - but since 2013?). This is where we are at today and this is where we sit. The global account is "blocked" and penalties are being paid by the non-performing SELLER (IRAQ/VN???) and this thing is delayed and delayed while others are making hay while the sun shines.
All along the parties have been talking nice and showing goodwill but not performing (and all along saying, Not my fault!) That's the question many have asked here at “ALPHA PACK” (thanks, Oldschool!). Let's consider this.... whose fault is it really?
Here we sit today with many good people involved and with excellent intentions, as instructed by ST GERMAINE TRUST, et al., established for the FREEDOM OF HUMANITY and this is our time. The authorities involved are (as usual and again - I’m just guessing), the TRUSTEE FOR THE ACCOUNT GUARANTEEING THE CONTRACT and most likely this is PARTY 1 = BUYER. Accounts of this nature always have a "trustee" and are held in a (blind) trust, so no guess needed there.
Of course this person would be considered an "authority" but how much power do they really have over their own money? True that they can have their banker fired if this person is found to corrupt their business dealings, so the banker doesn't really have any authority.
Next you have the PARTY #2 which in this case is the SELLER of the oil and gas. Is the seller a broker? Not likely considering the size of this contract but rather, more likely the CEO of the oil and gas company. This person is an "authority" but how much control over this can they really have?
Finally, you have (and this is all conjecture), PARTY #3 that is putting up the instrument against the cash/asset account that is guaranteeing the delivery and subsequent payment of the oil and gas once it hits the high seas. Each of these “Principals” are only waiting on the money to start rolling - money has to be RELEASED and for real - able to be moved; to begin delivery.
One common indicator in all three is money has to be able to MOVE and bankers have to play in concert like a finely tuned orchestra.
There have been so many false starts/stops already that all parties involved have become apathetic which is natural given this tug-o-war. We’re all apathetic over this. The banks, the central banks, the world banks, the UN, the IMF; all parties are apathetic over this. Every twist and turn has a new wrinkle and hitch in its git-up-and-go.
Each of these buy/sell contracts are HUGE in dollars. Each represents hundreds of thousands (potentially) of oil buys multiplied over weeks and months and years, for instance. Millions of gallons of oil at $32.00 require billions to get negotiations started. That’s BILLIONS with a “B” and it’s frozen/blocked/not earning interest, but costing the principals fees for every action and for just sitting there. They must be hopping mad and not just apathetic.
Like a fine-tuned orchestra there is a conductor. There must be. Who is the conductor? We want someone to blame - someone to point a finger at. While it's not my nature to blame anyone, we will hold those responsible accountable and we can know this, there will be an accounting soon. Yes, there will be and it won't be pretty and once that comeuppance is served up these "authorities" will "Pay the Piper". Maybe that's what that “2015” picture in the Economics mag represented - a final payment for their perfidies?
I, for one, want this done YESTERDAY rather than MANANA… it sure would be nice to know what those subsets are - the ones that dictate the steps/counter-steps that will be taken and where exactly the buck has stopped.
pebbles > OMEGA MAN I agree with you also, omega man, reason saying they were to start paying their bills, the beginning of this week.
Sqwatchy February 23, 2015 at 2:45pm
SPECIAL BIG HONCHO MEETING THIS EVENING AT THE SPEAKER OF PARLIAMENTS HOUSE...IN THE PRESENCE OF AL-ABADI. MEETING IS ABOUT MAKING SURE THAT THINGS MOVE FORWARD!!!! LOOKING GOOD...LETS SEE HOW THEY ACT TOMORROW NOW!
Sqwatchy February 23, 2015 at 2:44pm
STRAIGHT FROM THE HORSES MOUTH: YOU CAN JUST WALK INTO ANY BANK........THAT HANDLES FOREIGN CURRENCY...AND DO AN EXCHANGE FOR NON CONTRACT RATES....
IF YOU HAVE A LOT, YOU BETTER BE PREPARED TO ONLY EXCHANGE A LITTLE.....OR IT TAKE A LONGER TIME. SO IF YOU HAVE A BANK RELATIONSHIP...UTILIZE IT OF COURSE TO YOUR BENEFIT!
THEREFORE...NO 800# REQUIRED...WATCH THE RATES.....ONE NOTERS....YOU HAVE SMOOTH SAILING ONCE THIS GOES......IMO
[landons nana] Copied From Twitter:
@JCR3758: Confirmed News on 2015 Budget law officially implemented:
@JCR3758: Confirmed News on 2015 Budget law officially implemented:
[xyz] 2015 Budget law officially implemented The 2015 Budget law is officially active after being published in The Official Gazette of Iraq. http://www.alliraqnews.com/en/index.php/general-news/64833-2015-budget-law-officially-implemented.html
[montana2] Hopefully that reference to the budget law means the TOTAL law, not the 1/2 of it. We'll see.
tman23 The strange thing is that the 2015 Budget could have been published in the Gazette all at one time...And a commencement order by Abadi to enact only certain parts and given a date of future for others...This is the NORMAL...BUT...they didn't do it this way which makes it sooooo strange...
2 Possibilities exist...One is could there be more issues between Erbil and Baghdad that may exclude some portions of the Budget ...well once again Abadi could just work with commencement orders...
The 2nd speculation could be the numbers actually change...The CoM meets tomorrow and then 3/2 being the next...We need to see what comes out tomorrow from the CoM...and will there be any implementation orders issued.
sczin11: I MAINTAIN IF TARIFFS ARE TO BE IMPLEMENTED NEXT MONDAY, WE SHOULD KNOW SOMETHING BY THEN...THEY CAN NOT CONTINUE TO DELAY, OR THE BUDGET DEFICIT WILL INCREASE.
THEY NEED THE REVENUE FROM TARIFFS AS PART OF THEIR ATTEMPT TO BALANCE BUDGET...PART OF THEIR BUDGET DEFICIT REDUCTION PLAN...NEVER HAS IT, THE TARIFFS, BEEN MORE CRITICAL TO THE NEW IRAQ...AND IF THEY DELAY IMPLEMENTATION, THEY CANT MAKE UP FOR LOST DAYS OF REVENUE.
I BELIEVE THE MR [MONETARY REFORM] PLAN IS IN MOTION, AND WE NEAR ITS END.