R.V./ GCR: May 12, 2015 at 1:47pm Today Today Today…..TIMBER, TIMBER, TIMBER
Wilbur Gordan: MARKET ACTION - Many BREAKOUTS are occurring TODAY!!!
OMEGA MAN May 12, 2015 at 2:08pm sumpin big's up today
R.V. / GCR : Did you hear frank said 2020 the bonds mature
R.V. / GCR : That means the rate comes out in the next 48 hours if they mature in may 2020 they will be sold in may of 2015 thats a rate first needed then millionday whoopows and TIMBERKIDS
Bruce : > 5/12/2015 0:24
BAGHDAD - morning
decided the Ministry of Commerce distribution of 25 000 dinars per capita Kmbalg compensatory ration of materials that have not been received over the past year 2014.
The Minister of Commerce Mlas Mohammed said: "The ministry has formed a Finance Committee working on the General Company for Grain Trade and the General Company for the food trade and the Department of Planning and follow-up in order to install the amounts of compensatory foodstuffs. "
And that "the amounts were installed based on the number of souls and the number of months that have not been distributed, as well as material prices and the share of per capita".
He said Mohammed in a press statement that "the Commission has identified amounts of compensatory last four for months last year from the ration materials which have not been distributed to 25 000 dinars, "he said." These amounts are present in the banks will be distributed during the next ten days.
Rick May 12, 2015 at 2:05pm Greece Effectively Defaults To IMF Using SDR Reserves To "Repay" Fund; 1 Month Countdown Begins
When Monday’s Eurogroup meeting concluded without an agreement between Greece and its creditors, it should have been game over for Athens.
With pensioners at their breaking point and with local governments reluctant to comply with a decree mandating a sweep of excess cash reserves, the idea that Greece would somehow be able to scrape together €750 million euros to make a scheduled payment to the IMF today seemed far-fetched at best which is why we asked the following question Monday afternoon:
Where, if not from local governments who have been extremely reluctant to comply with Athens' cash sweep decree, and if not from the IMF which will apparently not be paying itself tomorrow after all, is Greece going to get three quarters of a billion euros in the next 12 hours?
We now know the answer to that question. As Bloomberg reports, citing Kathimerini, Greece tapped IMF reserves to pay .. well, to pay the IMF:
Greece used up ~EU650m reserves from its SDR IMF holdings account to meet loan payment of ~EU750m due to Fund today, Kathimerini newspaper reports, without citing anyone.
Reserves kept in IMF holdings account need to be replenished within one month
IMF agreed over weekend for their use, given Greece’s liquidity situation; without use of those reserves, payment due today wouldn’t be possible.
Reuters has a bit more color:
Greece tapped emergency reserves in its holding account at the International Monetary Fund to make
More in link http://www.zerohedge.com/news/2015-05-12/greece-effectively-defaults-imf-using-sdr-reserves-repay-fund-1-month-countdown-begi
Robdel » Frank, May I ask you a question? Last night you said the banks have plenty of 25k notes, to use in 'platform' banking. I thought there was no liquidity in Iraq? I thought there was no stinking 25k notes to be found. Did something change?
Also, what ever happened to the bonds from the CXE Chicago stock that were executed in 2013?
Frank26: CBI has done very well to retrieve as many 000's as possible so they CAN NOT BE REUSED BY ANYONE OUT SIDE OF THE CBI.
Like MY C OOO KIES ........ They ONLY BELONG to ME !!!
Not to YOU.
Not for the GOI nor her own bills.
Highlights from Delta on Mon. Night CC:
Delta I’m so excited...a lot of good news! They must have a credit rating to sell the bonds. Standard and Poors...one of the requirements to get a credit rating is that your currency MUST be international...That is a fact. ...
re-read what I brought in...one of the points about getting a credit rating is they must have an International currency – which is Article 8.
They must come up with a rate that is agreeable with the IMF (not 1166) – something that is agreeable for everybody.
Iraq is having a BIG, BIG problem with liquidity...they have no cash in hand and they need to sell those bonds ASAP!
Everyone is waiting for the rate.
The window of opportunity we are studying is before Ramadan - June 17th. Iraq must be in Article 8.
We know they have a holiday coming up on Wed/Thursday. In my opinion...nothing will happen this week...due to the holiday (I hope that I’m wrong)...then starting next Sunday we should start hearing something.
We are very, very close.
TNT: (Humor While We wait)
B Squared: Someone just sent me the titles to top ten country songs. I will list the ones that are least objectionable.
If The Phone Don't Ring, You'll Know It's Me
I Ain't Never Gone To Bed With an Ugly Woman; But I Woke Up With A Few.
I've Missed You, But My Aim's Improvin’.
Wouldn't Take Her To A Dogfight 'Cause I'm Scared She'd Win'.
I'm So Miserable Without You, It's Like You're Still Here.
My Wife Ran Off With My Best Friend...I Miss Him.
She Took My Ring and Gave Me the Finger.
She's Lookin' Better with Every Beer.
And the number one Country & Western song is: 1. It's Hard To Kiss The Lips At Night, That Chewed My A$$ All Day.
Tybad: relations ships are like a hot bath it just an't so hot after awhile