R.V. / GCR December 18, 2014 at 12:09pm All i can say is money is now moving towards platform levels if you’re in a group… get prepared to receive an email or text to do your thing… money is now moving
Janie December 18, 2014 at 12:19pm Copied From Twitter:
Full set of JCR tweets. Looks like he's having issues putting this together this morning! ROFL
JC @JCR3758 Confusion: At 3AM was informed that Parliament had the budget. Then was told 2 hours later that they were not voting on it today. No reason
JC @JCR3758 Hearing that the Kurks are happy with their 17% agreement. Then hearing that article 140 was being questioned. That makes no sense.
JC @JCR3758 Hearing that the GOI, IMF & UST are on very high alert this morning. Seems to me that they are expecting something. Celebrations planned.
JC @JCR3758 Budget does not have to be approved before an RI/RV. Understand that "new rates" are in the budget. The question is if this is all smoke?
JC @JCR3758 I am waiting on more info. I don't control, just inform. I will post what I can asap.
[sonlover] Now 7 in the evening in Baghdad. Assuming morning prayers/announcements at the mosques are 6 in the morning, we now have about 11 hours to go before the latest window closes.
TheCaptain: For those wanting to hear something positive here's a mood booster - Sean Hannity discussing the Dinar with a caller
For those wanting to hear something positive here's a mood booster - Sean Hannity discussing the Dinar with a caller on Radio a few years back - everything discussed (including being debt free & war paid off) all true though the RV rates were a little too low -
I am posting this because everything discussed on the call was future tense and we are now officially in future that was being discussed on the call. Over the past several years the media blackout has become more and more apparent which is why clips such as Hannity speaking to his 12 million daily listeners is so relevant.
Just hang in there!
Hannity Radio Link
Ccffpastor: IMF AND G20 MOVING FORWARD ON PLAN B
The year is coming to an end and as expected the 2010 IMF Quota and Governance Reforms have not been passed through the US Congress. True to her word, Christine Lagarde has been quick to respond to the lack of movement on the reforms and has issued a press release.
Things will now begin to escalate across a broad spectrum, with instability in the USD expanding and global stock markets adjusting dramatically. We can also likely expect increases in the valuations of gold as the liquidity crisis deepens and global money seeks liquidity outside of the dollar. The propaganda promoting US instability will increase internationally and the script stating alternative sources of liquidity must be utilized will begin to be distributed to global media outlets.
The press release can be read here. The text can also be read below.
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today:
“The IMF’s membership has been calling on and was expecting the United States to approve the IMF’s 2010 Quota and Governance Reforms by year end. Adoption of the reforms remains critical to strengthen the Fund’s credibility, legitimacy, and effectiveness, and to ensure it has sufficient permanent resources to meet its members’ needs.
“I have now been informed by the U.S. Administration that the reforms are not included in the budget legislation currently before the U.S. Congress. I have expressed my disappointment to the U.S authorities and hope that they continue to work toward speedy ratification.
“As requested by our membership, we will now proceed to discuss alternative options for advancing quota and governance reforms and ensuring that the Fund has adequate resources, starting with an Executive Board meeting in January 2015.”
Those “alternative options” can be reviewed here.
The blatant disregard by the US Congress towards the Executive Branch and Treasury, as well as the IMF and G20 countries is staggering. Whether you agree with the reforms or not, the fallout from this will be huge. It could potentially create the pretext for the exchange of USD in foreign reserve accounts with SDR securities, through the substitution accounts which we have discussed many times. Which may have been the plan all a long. Expect to see almost immediate escalations stemming from this moment. – JC
Zerb: I believe the tables are all done within the budget everything is ready to go it's just amazing all the information now...very very exciting cooking...can't wait to Monday's conference call! Praise God!!!
RATE FIRST...DROP THE ZEROS THEN THE BAM...THE BUDGET MAGICALLY APPEARS...HCL IS BORN... I SEE A BRIGHT STAR ARISING... Come follow me and I will give you rest!
Walkingstick newshounds outstanding job outstanding job!!! The news is just amazing Truly amazing
Prayers going up for those in need hang in there family proclaim it to the lord we are at the end of this Journey ... proclaim it!!! ABADI SHABIBI SALEH...the Amazing 3! It shall be!
What a New Year's celebration this COULD be! Can we finally get some satisfaction???
FrostyTheSnowman :WalkingStick ... over the years you've found great (and many) articles talking about Iraq making payments to Iraq. Maybe it's just my cynical thinking ... but if Kuwait is so "willing" to wait for its last payment ... what sort of backroom deal was made ... or are they truly willing to place an olive branch out for Iraq at this time? Will they in effect get more if the last payment is made microseconds before the Iraq dinar goes up in value?
At any rate ... WalkingStick... just wanted to thank you for you years of tireless service!!! I salute you with the highest level of respect!!!
Frank26: KW WAS paid. Trust me.
walkingstick » December 18th, 2014, 1:23 pm
Hong Kong Banks Shut Down US Accounts Rather Than Deal with FATCA
Posted on December 18, 2014 by China Briefing By Benedict Lynn
Due to its geographical proximity to the mainland, modern and (until now) friendly banking system and transparent legal regime, Hong Kong has long served as a popular gateway into China for foreign businesses. Americans in particular have favored the former British colony, which retains its widespread use of the English language and Western business ideals, as a launching pad for their operations into mainland China.
However, since the Foreign Account Tax Compliance Act (FATCA) came into effect in early July, many Hong Kong based banks have been refusing to open new accounts for, and even shutting down the existing accounts of, American individuals and corporations.
Dezan Shira & Associates have been advising several of our American clients who have found themselves in this frustrating and potentially catastrophic situation. In this article, we examine the effects of FATCA on American businesses and taxpayers operating out of Hong Kong, as well as the implications for Hong Kong’s future as a means of penetrating the Chinese market.
What is FATCA?
The Foreign Account Tax Compliance Act (FATCA) is an American law approved in 2010 that has only slowly been implemented, primarily because of its complexity and because of the necessity to negotiate the cooperation of numerous foreign countries to secure its desired global reach.
The basic idea is that banks and other financial institutions (broadly defined in the law) would be compelled to assist the US Internal Revenue Service (IRS) in collecting taxes from US taxpayers abroad by reporting the details of their overseas financial accounts, including naming and identifying the account holder. Failure to comply will result in a 30 percent withholding tax on all U.S. income.
Individual Americans and corporations are also required to report the details of their overseas accounts, and the IRS will then reconcile the information received in an effort to identify unreported, taxable income.
Headache for HK financial institutions
Hong Kong authorities only signed an inter-governmental agreement (IGA) with Washington in May of this year. Widespread confusion surrounding the law meant that come the first deadline for tax reporting on July 1, which incidentally kicked in as pro-democracy protesters blocked up the city’s business district, only a couple of thousand Hong Kong financial institutions, a mere fraction of the tens of thousands operating there, had registered themselves.
Now that the IGA has been signed, FATCA is as much Hong Kong law as it is American. This means that on top of the U.S. 30 percent withholding tax, these institutions are subject to further penalties from the Hong Kong authorities. The costs do not stop there. Hong Kong banks are now scrambling to find any trace of American presence in their accounts and are having to make significant process and technological changes.
One major Hong Kong bank revealed to DSA that the costs of locating, monitoring and reporting on a U.S. held or controlled account costs at least US$ 7000 a month. Our source indicated that once the costs and benefits of serving the client have been weighed up, only accounts containing some US$ three million are worth the bank’s time. In short, it is often easier and more cost efficient for Hong Kong institutions to simply shut down the accounts of, or reject applications from, American clients, rather than shouldering the costs of complying with FATCA or the penalties for not doing so.
What this means for our American clients:
Key to using a Hong Kong corporation to establish a Chinese subsidiary is the ability open and maintain a corporate bank account in Hong Kong, since a Chinese subsidiary may only receive a capital injection from a bank account held in the name of the parent company.
This has left many American businesses stranded. In some cases, the subsidiary has already been established, but cannot be funded or controlled, as applications for a Hong Kong bank account are rejected. In others, long-running operations are paralyzed, as already existing accounts are shut down.
There are some 50 000 US citizens living in Hong Kong, not including US green card holders who are also required to file US tax returns. Law firms specializing in the area have been reporting record numbers of inquiries about relinquishing US citizenship or green card status.
What this means for Hong Kong:
This has implications for Hong Kong’s future as the preferred gateway into China. Singapore has already replaced Mauritius as the leading source of FDI into India, and investors have long been weighing up the advantages of the city state – its independence from China’s laws and political stability – against Hong Kong’s proximity to, and strong trade links with, the mainland. FATCA may prove to be the final straw.
- See more at: http://www.china-briefing.com/news/2014/12/18/hong-kong-banks-shut-us-accounts-rather-deal-fatca.html#sthash.f40QDBVB.dpuf
walkingstick » December 18th, 2014, 3:01 pm
FOR, EDUCATIONAL PURPOSE/S..
Justice Department Probes Currency Exchange Site That Vanished With Cash
By David Evans and Willem Marx Dec 18, 2014 12:01 AM ET
The U.S. Department of Justice has begun a criminal investigation into the foreign exchange trading website Secureinvestment.com, which vanished last May 1 with as much as $1 billion from investors around the world.
The Financial and Capital Market Commission in Latvia is also probing the involvement of Latvian banks used by Secure Investment, says agency spokeswoman Elina Avotina.
An investigator with the U.S. Attorney’s office for the Eastern District of New York has interviewed Secure investors in the U.S. and Canada, according to the people who were contacted. Two of those people were quoted in “Anything But Secure” in the December issue of Bloomberg Markets magazine. Bloomberg had interviewed customers in 11 countries on five continents who said they saw their money evaporate with Secure Investment when its website disappeared.
“They’re not going to be able to hide forever,” says Ted Liming, a worker in a fast food restaurant in Watford City, North Dakota. Liming invested his savings of $21,725 with Secure Investment. “One day their partying with our money will be over.”
Liming says he has provided copies of his wire transfers to Secure Investment’s bank accounts to a federal investigator.
David Kane, a Houston oil industry technical support manager, also says he spoke to the Justice Department.
“I think the guys behind this could be tracked down if people put an effort into it,” says Kane, who lost $2,000 to Secure. “It feels good that someone in law enforcement is taking an interest in it.”
Nellin McIntosh, spokesman for the U.S. Attorney’s office for the Eastern District of New York, declined to comment. No one at Secure Investment has responded to calls or e-mails since May 1.
Secure had claimed on its website that it traded more than $4.8 billion daily for at least 100,000 investors in 140 countries. The site said its customers averaged net gains of 1 percent each trading day for five years.
By using banks around the world and small related company names for accounts, Secure Investment obscured the paper trail of investor funds it took in, Markets reported. Some of those banks were in Latvia, in the Baltic region of northern Europe.
Latvia’s Financial and Capital Market Commission is investigating the role those banks played with Secure Investment, says agency spokeswoman Avotina. “Upon receipt of information from credit institutions, the FCMC will assess whether the credit institutions had acted in accordance with the provisions of regulatory requirements,” she says.
Secure Investment, which investors found only on the Internet, never revealed its true location. It listed its call centers’ toll-free phone numbers in Australia, Canada, Hong Kong, the U.K. and the U.S. Secure instructed investors to wire their cash to banks in Australia, Cyprus, Latvia, Lithuania, Poland and the Seychelles.
Secure Investment lured customers by creating its own good reputation and by publishing a seemingly successful trading record on its elaborate website. It was all a lie, Bloomberg Markets reported. The company’s claims to have offices and a large staff were false. At least some of its so-called customer testimonials were actually delivered by actors who said they knew nothing about Secure Investment.
The deception worked -- for a while. In March, Secure’s website was more popular than Forex.com, the second-largest U.S.-based, over-the-counter forex trading firm, according to Alexa.com, a unit of Amazon.com Inc.
North Dakota restaurant worker Liming says he was among those who followed the Secure Investment website postings before he invested. He says he can’t forget the cold shivers he felt as his e-mails to the customer service department came back undeliverable in May, and he couldn’t reach the company by phone.
“It was like someone had drained the blood out of my body,” he says. “I felt very sick. It was like the flu and hangover had a baby together.”