2:30 AM: Iko Ward : Sorry guys, already back to 1165/1217 and Rupuah moved 42 points. Something went down. Maybe they tried and failed again. Wont know till morning. Goodnight.
8:00 am: Iko Ward: Morning guys...so it looks like they may have tried again last night and failed. I have no confirmation till we hear from Tonys guy.
Changeagent720” This is happening guys. It's not about us, it's not about Iraq (though they deserve it for their suffering). This is about launching the world forward in a way it has desperately needed for hundreds of years. You have a front row seat. Sit back and relax, continue to learn, but don't doubt: this is REAL.
Poppy3 IF IT WAS A GOOD INVESTMENT 3 YEARS AGO OR 12 YRS AGO IT IS A GREATER INVESTMENT TODAY THAN EVER BEFORE .
Q: [Do you think the reason Kurdistan hasn't been paid of their share of the oil revenue is because Baghdad doesn't have the money fully to pay them and they are waiting for the revaluation of the currency for additional funding? Iraq can't go to global economy without internationally traded currency.]
Millionday STICKING TO THE AGREEMENT WITH FEDS AND KURDISTAN HAD SO MANY RESOLVES INVOLVED I WAS NOT NOR WAS MANY SURE WHY THEY WOULD NOT STICK TO THE AGREEMENT –
THE PROGRESS LOOKS AS IF IT IS ABADI AND HIS GREAT WORKS FOR ALL PEOPLE -- SO MANY REASONS THIS AGREEMENT SHOULD STICK BUT YES MONEY IS A HUGE ONE.
THEY AS A NATION WANT TO MOVE FORWARD - PER THE REFORMS THEY ARE SO EXCITED ABOUT AND THE OPPORTUNITY -- HUGE.
Freedom June 9, 2015 at 1:32am http://nesaranews.blogspot.com.au/
Tuesday, June 9, 2015
G7 helpless in the face of mathematically certain bankruptcy
Benjamin Fulford - June 8th 2015:
The leaders of the Group of Seven Industrialized Nations or G7 are holding an emergency meeting in Germany in a futile attempt to avoid their inevitable bankruptcy. The leaders talk about Greece, the Ukraine, China, the Middle East and other matters as if somehow they are still in control.
The leaders need to understand that there is a thing out there called reality and, no matter how long you try to avoid it, it has a way of catching up to you. The fact is that, with the exceptions of Canada, Japan and Germany, the G7 nations and their allied Western states have been running a deficit with the rest of the world for the past 40 years.
The elephant in the room that nobody talks about is the fact the biggest debtor of all is the Corporate United States.
The rest of the world has made a collective decision to stop financing these Western governments until they stop their constant war-mongering and resource stealing. Since the rest of the world controls most of the real money (i.e money connected to physical objests) they control the underlying reality.
You can eat bread but you cannot eat derivatives or dollar bills. You can trade real things like cars or oil for rice or wheat but if you lose trust, nobody will trade your IOUs for real things.
The G7 countries, especially the Corporate United States (as opposed to the Republic of the United States), have managed to postpone the inevitable with fraudulent economic data, offshore slush funds, and derivatives theoretically worth astronomical amounts.
However, no amount of zeroes added to astronomical numbers inside Western banks will make any difference so long as these zeroes have no connection to the real world.
The Chinese have insisted on payment in things, like gold, that actually exist. The American corporate government has, like a once rich junky fallen on hard times, pawned family heirlooms, borrowed from friends, stolen and lied so far to get its next fix of debt.
They have stolen Iraqi oil, African gold, Japanese savings and everything else they could get their hands on. However, since real US GDP has shrunk by 21.4% since 2011, it is becoming impossible for the United States Corporate government to keep paying its snowballing debts. The obvious answer is to declare bankruptcy.
The problem is that very few people are alive today who remember the last time a European country went bankrupt. No Anglo Saxon country has gone bankrupt for a thousand years so the Americans are even less familiar with what bankruptcy really entails.
For those of us who witnessed firsthand such things as the collapse of the Japanese bubble and the bankruptcy of Argentina the future is easier to see.
Let us compare these two cases to what is happening to the G7 in order to predict the future.
In the case of Japan, the bubble burst in the years 1990-1992. The Japanese government knew as early as 1992 the bad debt total was 200 trillion yen (about $2 trillion). However, public announcements then put it at only 3 or 4 trillion yen.
Company A would pass on its bad debt to company B who would pass it on to company C, each with a different accounting deadline. It was like an individual using their American Express card to pay their Visa bill and then using the Visa to pay for their MasterCard and then use their MasterCard to pay off American Express. This scam bought time.
Eventually though, a few of the worst companies were no longer able to hide their bankruptcy. I remember interviewing Kichinosuke Sasaki, president of the Togensha, one of those companies, in the late 1990’s. He was then the poorest man in the world with a net worth of minus 9 trillion yen (roughly minus $90 billion).
He was wearing a silk suit that must have cost him tens of thousands of dollars when he originally bought it but it was pretty threadbare and shabby when I interviewed him. He told me he the bankers were keeping him half-alive on a miserable allowance.
The bankers would not let him declare bankruptcy because that would have triggered a domino effect that would inevitably lead to the biggest Japanese banks.
In the case of Europe, Greece is playing the role of Togensha. If Greece is allowed to go bankrupt then big European banks will have to declare their Greek debt in default and thus be forced to admit they are also in default. No wonder the top managers of outfits like Deutsche Bank keep resigning. Nobody wants to be the captain of a sinking ship.
However, the Japanese experience with the bubble makes it very clear that postponing the inevitable just increases the total pain. The Greeks already know this because they are being forced to play the role of Mr. Sasaki, and be squeezed of everything they have so their bankers can pretend all is well.
Average Greek income has fallen 40% in the past five years so that bankers can pretend they are solvent. It will only get worse until Greece declares bankruptcy.
It is much better to declare bankruptcy than to stay chained to an unpayable debt burden.
Bankruptcy need not be a bad thing. The first thing people need to understand is that finance is spiritual or psychological. If Greece goes bankrupt, people, buildings, factories, farms, beaches, houses etc. will not disappear. The only thing that will change is how people decide what to do in the future with these real world assets.
In the case of Argentina, as well as in the case of Iceland, declaring bankruptcy was a short sharp shock followed by a rapid rise in standards of living. The people were also freed from the clutches of parasitical bankers.
Of course, if Greece goes bankrupt, eventually so will the rest of countries using the Euro.
Angela Merkel recently went to China and Japan to ask for money but returned empty handed.
Since there is no other source of money big enough to bail out the German-backed Euro, the German financial system is thus also likely to become insolvent sooner rather than later.
The end result will be a return to the Deutschemark, the Drachma and other currencies tied to historical cultures.
Now here is something to ponder. The European Union Parliament building was deliberately built to resemble the Tower of Babel. You can see this visually at this link:
The story of the Tower of Babel was that it eventually collapsed and all the different peoples went their separate ways. The new Tower of Babel was completed in 1999. The question is, where there planners who knew way back then the EU project was destined to go the way of the Tower of Babel?
Walkingstick » June 8th, 2015, 8:54 pm
Baghdad sent 508 billion dinars for the Kurdistan Peshmerga salaries and staff
Author: BS, RA
Editor: AB, BS 6/8/2015 18:16
Long-Presse / Sulaymaniyah
Ministry of Finance announced in the Kurdistan region, on Monday, from the conversion of Baghdad 508 billion dinars for the region and for the salaries of the Peshmerga staff, while confirming that these funds do not include all of the Kurdistan dues.
A spokesman for the Ministry of Finance Ahmed Abdul Rahman, in an interview with the media Kurdish I followed (range Press), "The Federal Ministry of Finance has turned 508 billion dinars, today to calculate the Kurdistan Regional Government, including 34 billion special dinars salaries of the Peshmerga, and the remaining amount for the salaries of the Kurdistan Regional staff" .
The Abdul Rahman, said that "the said amount does not include all the dues of the Kurdistan region of salaries and the budget," noting that "the region is waiting send their dues in full from the federal government."
The head of the Kurdistan Regional Government Nechirvan Barzani stressed, Sunday, (June 7, 2015) that the people of Kurdistan living conditions "very difficult" and placed psychologically bad for not sending the central government financial budget for the region, as pointed out that the Kurdistan region will be a place to house all those fleeing sons the Iraqi people, the region between the government seeks to resolve all the problems with the government of al-Abadi.
The Prime Minister of the Kurdistan region Nechirvan Barzani stressed, in (June 4, 2015), seeking provincial Permanent resolve the outstanding problems with Bgdaden through dialogue and understanding, with the central government called for a commitment to the terms of the oil agreement, likely to resort region to other solutions in the case of Baghdad's failure to send dues.
The central bank in the Kurdistan region, announced, in, (the 11th of May 2015), to send the federal government 543 billion dinars to Erbil financial allocations for last April.
The President of the Kurdistan region, Massoud Barzani, confirmed, in (the 11th of May current), the need to send the federal government the region's share of the general budget to be able to pay its debts, and stressed that the Kurdistan region the ability to export oil by about independent if not received its share .
It agreed the Kurdistan Regional Government and the Parliament of the region, in the first of March 2015, to continue efforts to divert the region's share of the budget, and coordination of the formulation of a strategy to tackle the financial crisis and the provision of staff salaries, and publish weekly information on the proportion of the production and export of oil, and the processing of all files and the current problems in the Kurdistan region in The legal framework.
The Ministry of Finance in the government of the Kurdistan region of Iraq announced, in (the sixth of May 2015), to send the federal government 543 billion dinars for the account of the Kurdistan region, stressing that the amount is transferred in exchange for oil exported from the region during the last April.
The federal and Kurdish governments have agreed in the (second from December 2014 the past), the allocation of part of the federal allocations of Iraqi ground forces to the Peshmerga forces, and delivery of the Kurdistan Regional Government, 250 thousand barrels of oil per day in addition to the export of Iraq 300 thousand barrels per day of Kirkuk oil.
The agreement also included the granting trillion and 200 billion dinars for the Peshmerga forces and the allocation of a percentage of the budget of the Ministry of Defense them.
Walkingstick » June 9th, 2015, 7:07 am
International Banks Cleared to Lend to the KRG
One American and a German bank willing to give loans to Erbil government
Basnews | Hemin Salih views
International banks willing to give loans to KRG
ERBIL – International banks will be able to lend to the Kurdistan Regional Government (KRG), once a bill is signed into law by the Kurdistan Region President.
A source from the KRG, speaking on condition of anonymity, told BesNews that a German and an American bank have expressed interest in lending to Erbil if it proves its ability to repay the loan and interest.
The Kurdistan Region Parliament recently passed a bill which allows borrowing from international banks. President Barzani will approve the bill soon.
Member of the Kurdistan Parliament Bayar Duski confirmed the report. He told BasNews that the bill will permit the KRG to borrow a maximum of $5 billion from international banks. “The interest must be less than 8%,” he said.
Duski added, “The bill will enable the KRG to borrow from any international bank or governments; however, the German Federal Bank has stepped up to lend to the KRG while we wait for the bill to pass.”
Erbil – Baghdad disputes over oil and the budget, the fight against Islamic State and the flow of the refugees and IDPs from Syria and Iraq have contributed to the KRG’s economic crisis.