RedIndian: Just remember even with all these (scenarios, timelines, ISIS, neighboring countries, new construction, G20, etc) add whatever you want to the growing list....
They can FLIP the switch to turn this back on that quick and that easy.
They got billions in loans now, security, a house cleaning going on of PMs, bad guys, and corrupt leaders, oil flowing and a strong need to start paying back all the loaners they owe money to so guess they will FLIP THAT SWITCH!!!!!
Rrrr: Please keep in mind that the history of Bank Corruption has translated in much mis-trust of the Banks by the Iraqi people... The "store it under the mattress" scenario has been the mindset for years....forcing the people to deal with the banks to get their Dinar may be part of a plan to instill that trust in the banks... IMHO
GreatlyBlessed: Ideal Payments launches first mobile app in Iraq.. http://www.bankingtech.com/568832/ideal-payments-launches-first-mobile-app-in-iraq/
TurtleIsland1: The Hong Kong Exchange & Clearing’s (HKEX) new physical gold contract “We are going to finish it up, make sure things
HKEX gold contract launch likely in Q1 2017
The Hong Kong Exchange & Clearing’s (HKEX) new physical gold contract will likely only be launched in the beginning of or the first quarter of next year, Charles Li, chief executive of HKEX, said on Monday.
The exchange had said that it hoped to launch the contract in the second half of this year, though Li had said during LME Week Asia in June that will be launched in September. Li, however, downplayed the later launch timing saying that it “is not a delay”.
“We are going to finish it up, make sure things are right. Also, there is a regulatory angle,” he told reporters at a press briefing at the FT Commodities Asia Summit here on Monday. “This is the first time we are introducing a physically settled gold contract and we want to get it right,” he said. One of the key features of the contract is that it is traded simultaneously in US dollar and the offshore yuan, in which the exchange hopes to offer arbitrage opportunities to market participants via the contract.
The contract is likely to appeal given the region’s affinity for gold kilobars of 99.99 percent purity and the fact it will offer physical delivery in Hong Kong vaults, sources told FastMarkets back in December. but it faces strong competition – already serving the region’s needs for yuan-denominated gold are the Shanghai Gold Exchange and its international subsidiary, the Shanghai Gold Exchange International (SGEi). - See more at:
TurtleIsland1: The World Is Hanging By A Thread, On A Frightening Road To Perdition
September 04, 2016
With continued uncertainty in global markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned King World News that the world is now hanging by a thread, on a frightening road to perdition.
Egon von Greyerz: “Since Reagan came to power in 1981, the US has had a total of five presidents who in their desire to hold on to power, have spent ever-increasing amounts of money to hang on to power and buy votes. This has resulted in the most extraordinary money printing venture in history. It is not just central banks that print money…
In Volatile Markets, Is Wealth Preservation King?
In a King World News interview I spoke with the man who predicted the Swiss National Bank would experience staggering losses and that the Fed would also experience massive losses that will destabilize the global financial system!
Egon von Greyerz continues: “Governments that borrow vast amounts of money are also performing a printing function since money is created out of thin air. And even worse than that, the US government neither has the intention, nor the ability to ever repay the debt with real money. Thus the US debt can only evaporate when the country defaults. Since there is no other way of eradicating this debt, a default by the US is guaranteed to take place in coming years.
Forget Helicopter Money, Jumbo Jet Money Creation Is Coming
But before that the Fed and the government will flood the market with jumbo jet money since helicopter money won’t suffice. Jumbo jet money will create hyperinflation but it will never repay the debt since all it does is to increase the amount of debt outstanding from trillions of dollars to quadrillions.
The US economy showed natural growth without deficit spending until 1960. At that point, heavier involvement by the US in the Vietnam war created the initial deficits. As Eisenhower handed over to Kennedy in 1961, US debt was only $286 billion. Then, 20 years later during the first year of Reagan’s presidency, US debt reached the staggering sum of $1 trillion.
Walkingstick: CBI News & announcements
( Story ) The CBI equip Rafidain and Rasheed foreign currency ( US dollar ) for the purpose ofexpanding cash sales outlets for the dollar to citizens through their branches scattered in Baghdad and the provinces
Walkingsstick: Suggested the US Embassy in Baghdad on Sunday that Iraq is a candidate for accession to the World Trade Organization
Suggested the US Embassy in Baghdad, on Sunday, the growth of the International Monetary Fund projects sectors is oil in Iraq by the year 2018, and revealed that Iraq is a candidate for accession to the World Trade Organization, and as pointed to the need for the Iraqi government some major reforms, the investment climate to improve, confirmed that the bank international and Washington identified the sectors that could be developed to contribute to attracting investment in Iraq.
A spokesman for the US embassy in Baghdad Kim Dboa in an interview with (long-Presse), said that
“Iraq needs financial stability to evolve as the standby credit agreements of the International Monetary Fund and support associated with it will help facilitate a stronger financial position over the next few years, especially with the and a slight rise in oil prices, “returned to” Iraq needs to focus on ensuring the stability of the oil sector and the expansion of non-oil sources of revenue. ”
He Dboa, that “the IMF projects growth in non-oil sectors of Iraq’s economy will slow during the current year 2016, and then begin to rise by the year 2018,” noting that “investing in projects in non-oil production is crucial for the Iraqis.” .
He predicted Dboa, “the Iraqi economy shift to a more market-oriented economy, being the focus of his business to deal with the international community, including the United States and other trading partners, where keen on belonging to the international community through its cooperation with international organizations including the IMF international and the World Bank, the United Nations and the Arab League, “stressing that” Iraq is a candidate for accession to the World trade Organization. ”
He said US embassy spokesman, said: “Iraq needs to do some major reforms to improve its climate for investment for both Iraqi and foreign parties,” pointing out that “the World Bank and the Government of the United States identified the sectors that will develop them to contribute to attract investment and create jobs and develop the economy Iraqi. ”
He pointed Dboa, that “the International Monetary Fund will provide $ 5.4 billion to Iraq over the next three years, in addition to the plans of the World Bank to help Iraq a loan of an additional value of three billion dollars,” explaining that “this assistance comes in addition to the current loans provided by these institutions which provide billions in support of infrastructure projects and to cover the budget deficit. ”
The Dboa, that “the International Monetary Fund and international donors program among them the United States provided billions of dollars in extra aid for Iraq,” vowing to “the continuation of the United States to work together with the International Monetary Fund, World Bank and others in order to help Iraq achieve financial stability.”
The number of participating countries within the humanitarian aid, stability and remove the mines which was hosted by the United States government in the private donors’ conference (20 July 2016) has been granted Iraq $ 2.1 billion.
The US Embassy in Baghdad, uncovered, on Wednesday (31 August 2016), the trade exchange achieved with Iraq since the beginning of this year until August, totaled more than $ 2.6 billion, and as pointed out that trade between the two countries amounted to 6.6 billion dollars for 2015, pointed out that there is a desire among US companies to invest in Iraq.
Don961: Iraqi cash reserves fall $ 9 billion annually .. and specialists warn of bankruptcy
Experts in finance and economics, warned on Tuesday that the central bank's reserves fall at a rate of $ 9 billion annually, with the Committee of Economy parliamentary confirm that the sale of the bank for foreign currency is causing a drain on her and wasted the wealth of Iraq, described the central bank adviser current fiscal inventories as "reassuring."
He said financial expert and member of the Economic Reform Institute, Majid Aziz, for "tomorrow's Press," that "the Iraqi Central Bank reserves fell from $ 88 billion to $ 67 billion, and continued the decline that this year reached $ 43 billion, a decline of up to $ 45 billion and the rate of decline is equivalent to nine billion dollars a year. "
He added that it "is supposed to work on how to increase the monetary reserves of hard currency by investing part of it in development projects, not operating expenses, as is happening now," he said. "Reservist is a cover of the national currency and a safe haven for her as well as he sovereign balance the state can not any hand even manipulated by the government, except in cases of necessity or investment. "
At the time accused a member of the economic and investment commission in Parliament, Salam al-Maliki, the Central Bank of wasting the wealth of Iraq Finance, saying that "there are measures included many of the suspicions of corruption and fraud what is known as a window of foreign currency sale at the central bank that caused the depletion of the currency of the country, and led to a decline in reserve of the dollar in the bank treasury and that it was more than $ 80 billion to No. anonymous central bank can not permit it. "
Maliki said in a statement, "tomorrow Press" received a copy of it, that "certain information to indicate a low level of cash reserves of hard currency to the low levels portend serious disasters in the short and long term may threaten bankruptcy Iraq and drowning in foreign debts," noting that " there is a vast difference between the approved price for the local market accredited to the Central Bank of the price, allowing the spoilers and behind them by depriving the government of tax and Alcomerk in addition to depriving the Iraqi people of the benefit of the real exchange rate. "
So the central bank adviser, Walid Idi, for "tomorrow's Press," that "more than $ 50 billion in the value of inventories (central bank reserves), this covers imports over the period prescribed internationally recognized," adding that "this is reassuring in current time".
He Idi, "This is to meet the coverage of private sector applications for import, as the state imports 95%, and now do not import anything, but the private purpose of the Iraqi ministries," adding, "However, imports by the private sector, there are no hand in Iraq in the process of financing other than the central bank through harness the reserves. "
And between, "The policy adopted by the Central is the emphasis on banks to make sure the money provided by sources to buy the dollar, that is, from the sound and true and non-artificial sources, as it carries out inspections and all the special import operations documents kept with the bank and the Central Bank's role is after a period of conduct periodic inspections of these banks to make sure that the documents submitted were correct and conform to the law and the orders were real. "
He explained, "The other side, which emphasizes the central bank is trying to reconcile the preservation of foreign reserves has reconciled with the requirements of the market price to ensure the stability of the Iraqi dinar exchange rate against foreign currencies and as an important function of the central bank."
He noted that "the stability of the exchange rate is always linked to two factors political stability and the stability of security, and the security situation, the state is still the crowd and popular security forces fighting Daesh by all my strength and was able to respond 90% of the territory usurped, which requires spending and sustain the battle of supplies."
He continued, "The other thing is the internal migration, many Iraqis stopped their work and Orchehem and their homes and forced into internal migration or external and managed a lot of them transfer assets into foreign currency and carry them with him within 10 000 dollars allowed anti-money laundering law, this international standard to meet spending requirements outside Iraq or elsewhere, "noting" and this certainly increase demand for the dollar on the black market, the lack of security and political stability influential factors on the exchange and price stability. "
The Governor of the Central Bank and the Agency, on the Keywords, had said earlier that Iraq's reserves of foreign currency of $ 53 billion, and with the exception that it is in line with international standards and regulations of the International Monetary Fund, hold the House of Representatives and the government responsible for the low reserve because Msadegthma on the financial budget the deficit.
The CBI has refused (January 13, 2016), directed the government to draw from the financial reserve, while attributed to the fact that the law "does not allow" the government of this, he called for the issuance of bonds and sell them to banks.