[hogs4life] 5-20-2015 The Professor Article quote: "Iraq stands now on the brink of a deadly pit is the possibility of a storm economic disaster..."
Iraq is not on the verge of bankruptcy. They have issues, but they also have options available to them. The reserves are among the highest in the world in relation to the money supply. The GOI is in control of salaries, and can adjust them downward as necessary.
Oil production continues to grow. There are a lot of companies that are seriously looking into investing in Iraq in the short term (I did a google search and found plenty of them). Admittedly, there is no "quick fix." The situation is difficult, but hardly out of control.
Iraq is not going to "collapse"...It will weather the storm. Remember, growth last year was at about 9%. Just give these people some time and they will get the situation under control. No panic is called for.
I will add one more point: the current deficit in Iraq is about 34% of GDP. Our deficit in the US is 101% of GDP. This alone proves that Iraq is not on the verge of bankruptcy. Actually its deficit is about average for developing countries in relation to its GDP. And, the GDP is growing at a rate of 9% per year, meaning that the deficit, as a percentage of GDP, will fall.
The US has run for two generations with deficits, and most recently with huge deficits. Most countries run with deficits. What makes Iraq any different? Just because their revenue covered their expenses for the last 8 years doesn't mean that "the sky is falling" because they fall short one, or even two or three years.
If Europe and America can run on deficits without a catastrophe, so can Iraq.
It is not the end of the world. This is a minor setback only. The bigger issue is the security problem.
If and when that gets solved, then the exchange rate regime can be changed and all of this deficit talk will disappear overnight. Let's keep focused on the real problem, namely security.
OMEGA MAN May 20, 2015
rock steady friends..
lots of misinfo out there...you'll soon be golden...
give not up your hope...we be there shortly...
Robert E. May 20, 2015 at 1:25pm
(This is Zap/Jerzy weekly conference Call)
Landa Global has been hosting a dial-in conference to inform holders of assets and intermediaries of the current status of the historic bond redemptions, and general information in respect of procedures and pricings of assets.
To access the weekly conference, please observe the following information:
Date: Each Wednesday
Time: 3:00 p.m. Mountain time (MST)
5:00 p.m. Eastern (EST)
4:00 p.m. Central (CST)
2:00 p.m. Pacific (PST)
Conference line: (559) 546-1000
Access Code: 1013931#
RedBaron: BREAKING NEWS: Five Major Banks Plead Guilty to Felony Charges Over Currency Rigging
Link: --> www.foxbusiness.com/industries/2015/05/20/five-major-banks-plead-guilty-to-felony-charges-over-currency-rigging/
Citigroup, JPMorgan Chase, Barclays and RBS will plead guilty to rigging the price of U.S. dollars and euros traded in the FX market. The banks will pay fines amounting to more than $2.5 billion. In addition, UBS will plead guilty to manipulating LIBOR and other benchmark rates and pay a $203 million fine.
Walkingstick » May 20th, 2015,
Parliamentary Finance: Iraq's new currency will be traded outside the country
Economy and tenders Since 20/05/2015 19:27 pm (Baghdad time
The parliamentary finance committee, revealed Wednesday, about the possibility of the use of the new currency of the class hundred thousand fifty thousand outside the country, saying it will increase the strength of the national economy, especially after the deletion of zeros.
Said committee member Abdul Qader Mohammed's / scales News / "The issuance of new categories of currency and a new edition can be used outside the country will increase the strength of the economy Aerava for possible use with import and export traders."
He said Mohammed "The new currency will enable the Iraqi traders to deal out for easy transport and trading," noting that "the more if I grew up and the small amount of cash currency increases the size of the turnout and handle them in the Iraqi market and external economy of the country."
This "declared the parliamentary finance committee member Masood Haider, for" the formation of a committee to study the issue of coins and categories of the fifty hundred thousand Iraqi dinars, stressing that these categories booting to remove zeros from the Iraqi currency in the future, ".anthy / 29 / d 24 Link
WS ....... TY for the message.
This is very good to see ...... NOW!
KTFA FAMILY......... Anyone want to talk about this after our Business CC???
TA DA !!!!!!!!!!!!!!!!!!!!!!!!
Walkingstick » Abadi heading to Moscow this evening
Created on Wednesday, May 20, 2015
BAGHDAD / Sky Press: parliamentary source said, Wednesday, that the Prime Minister Haider al-Abadi will travel to the Russian capital, Moscow, on Thursday evening, at the head of an official delegation for an official two-day visit at the invitation of Russian President Vladimir Putin.
The source for "Sky Press," "The facilities for Ebadi delegation includes Interior Minister Mohammed Salem Ghabban Baqir al-Zubaidi, transport and culture Raundozi and National Security Adviser Faleh al-Fayad and Foreign agent and oil ministries."
The source, who requested anonymity, that "it is due to meet Russian President Vladimir Putin, Prime Minister Haider al-Abadi on Thursday in the Kremlin to discuss a number of topics which enhances the system several areas of bilateral cooperation, including investment, energy and trade."
jdtolle » May 20th, 2015 You are ready
If you’ve been waiting until you’re ready, the wait is over. You are ready.
You are ready, so go ahead and get started. You know enough, you have enough, you’re inspired and purposeful and creative enough to take the first step, now.
Though you have many questions, and maybe even some doubts, you are ready. Go ahead, grab the opportunity of this moment, and make your life come to life.
Achievement is never the result of figuring everything out in advance. Achievement comes when you start where you are and keep going.
Make more than mere plans, have more than just intentions, experience more than empty wishes. You are ready to follow where your passions lead and make life more amazing than it already is.
You are ready to take action. Now is the time and this is the place.
Ralph Marston Wishing All a safe and blessed day JDT
P.S. What we call the secret of happiness is no more a secret than our willingness to choose life.-- Leo Buscaglia