Sqwatchy December 23, 2014 at 7:12am
DXY: 89.75 COULD WE SEE 90 TODAY?
Lightworker > Vinman My question is, shouldn't we already have an international rate before approval or vote on budget ?
Vinman > Lightworker If you want my opinion...the budget was approved last Friday since this was supposed to go Saturday. This is just show and they will have to reveal the real numbers soon.
BaNDiTo.RoX December 23, 2014 at 7:32am
Iraqi Cabinet Approves Next Year's Budget Posted by BaNDiTo.RoX on December 23, 2014 at 7:25am
BAGHDAD - Dec 23, 2014, 7:14 AM ET
A government spokesman says Iraq's Cabinet has approved next year's budget, sending it to parliament for final approval.
Spokesman Rafid Jabouri said Tuesday that the 2015 budget of 123 trillion Iraqi dinars ($ 105.48 billion) will run with a deficit of 23 trillion dinars ($ 19.72 billion).
The approval is considered an achievement for Haider al-Abadi's government as the previous administration never managed to approve the 2014 budget due to political wrangling.
Jabouri added that the budget calculations are based on an assumed oil price of $ 60 a barrel.
Iraq holds the world's fourth largest oil reserves, some 143.1 billion barrels, and oil revenues make up nearly 95 percent of its budget. The price of oil has fallen by about half since June to around $ 55 per barrel.
BaNDiTo.RoX December 23, 2014 at 9:30am I take no credit for this below!
by w8tn4it2rv » December 23rd, 2014, 9:24am IMO
PARLIAMENT only needs to be read the budget 1 time because it is a AMENDMENT to the APPROVED Budget
(Abadi reveals a supplementary budget to compensate for the drop in oil prices)
Alaska-mama > BaNDiTo.RoX I think you are RIGHT, especially the way it reads , and then ,approved on the spot!!
nana7 Please, not the friends and family again~~ :(
EXOGEN > nana7 December 23, 2014
TIER 1, TIER 2, AND TIER 3 BANKS ARE NOT ANGRY WITH THE FRIENDS AND FAMILY MODEL AND CONCEPT ITSELF.
THEY ARE ANGRY BECAUSE # 1 TOLD THEM THEIR BANKS WOULD BE AUTHORIZED AND STARTING SOON AND IT NEVER HAPPENED....................
AND NOW WELLS FARGO IS DOING GLOBAL PRESS RELEASES "LIKE BRAGGING " THAT THEY ARE NOW THE MOST LIQUID AND TOP BANK IN THE HISTORY OF THE WORLD AND OTHER TIER 1, TIER 2, AND TIER 3 BANKS KNOW HOW THEY GOT TO # 1
WHEN YOU BECOME # 1
ALL OF YOUR DIRTY LAUNDRY THEN COMES OUT AND YOU BECOME A GLOBAL TARGET.
FRIENDS AND FAMILY WAS JUST 1 OF THE WAYS THEY BECAME NUMBER 1
gum leaf > EXOGEN So they are turning on one another now?
EXOGEN > gum leaf THIS IS ONLY THE BEGINNING!!!!!!!!!
Guesses to Exogens Picture Clues/Intel:
G T December 23, 2014 at 8:56amTuesday Morning Clues.....
The Iraqi Budgets been approved by Their Cabinet
Iraqi Parliament should approve their Budget (the Supplementary Budget because the Main Budgets BEEN APPROVED) within 48 Hours (I BELIEVE ITS BEEN APPROVED SINCE LAST WEEK)!!!
Theirs APPLAUSE IN IRAQ (Even Here in DINARLAND)
Lookout for their plans to MISDIRECT Us in the Print Media
We're Back on Countdown Watch....AGAIN
WE HAVE HEAVY SNOW.....AGAIN
Theirs FINGER POINTING by ANGRY Banks (tiers 1, 2 & 3) at Wells Fargo.......At HOW They Achieved their #1 Ranking (Friends & Family along with Private Exchanges prior to the PUBLIC RELEASE of the RV/GCR (their MAD Because they didn't have THEIR SHOT to Do The SAME THING)!!
Cat's OUTTA The Bag WORLDWIDE.....Regarding Wells Fargo's climb to #1
Wells Fargo is trying to keep this "ON THE DOWNLOW" (a Secret)......But it's NOT WORKiNG!!
It's ALL ABOUT BUSINESS!!!
tinaturner > Wow what a circus! In your opinion (which I value)why all the smoke and hold out on the budget that's already done! Why act like it has to pass thru parliament? We thought the tier 1,2,3, banks filed lawsuits 2 weeks ago?
Who has the authority to override wells Fargo authority?
Where is the dong that was trying to sneak in? Why are all these other countries waiting to revalue?Is the new banking system in place? It is the case of who,where,when,why,and how!!!!!!Is this the UST holding out!
EXOGEN > tinaturner READ THE NEW POST ON CHINA AND THE IMF
EXOGEN December 23, 2014 at 8:25am
ruble Swap Shows China Challenging IMF as Emergency Lender
China is stepping up its role as the lender of last resort to some of the world’s most financially strapped countries.
Chinese officials signaled on the weekend they are willing to expand a $24 billion currency swap program to help Russia weather the worst economic crisis since the 1998 default. China has provided $2.3 billion in funds to Argentina since October as part of a currency swap, and last month it lent $4 billion to Venezuela, whose reserves cover just two years of debt payments.
By lending to nations shut out of overseas capital markets, Chinese President Xi Jinping is bolstering the country’s influence in the global economy and cutting into the International Monetary Fund’s status as the go-to financier for governments in financial distress. While the IMF tends to demand reforms aimed at stabilizing a country’s economy in exchange for loans, analysts speculate that China’s terms are more focused on securing its interests in the resource-rich countries.
“It’s always good to have IOUs in the back of your pocket,” Morten Bugge, the chief investment officer at Kolding, Denmark-based Global Evolution A/S who helps manage about $2 billion of emerging-market debt, said by phone. “These are China’s fellow friends and comrades, and to secure long-term energy could be one of the motivations.”
The ruble jumped 4.9 percent to 55.8 per dollar in Moscow on Monday after Hong Kong-based Phoenix TV cited China’s Commerce Minister Gao Hucheng as saying that expanding the currency swap between the two nations would help Russia.
The ruble has gained 10 percent over the past two days, paring a selloff that’s made it the world’s worst performing currency over the past six months.
Unlike Ukraine, where the pro-west government received a $17 billion IMF-led bailout this year, Russia, Argentina and Venezuela are often at odds with the U.S. and its allies, essentially keeping them out of the reach of the Washington-based institution. At $3.89 trillion, China holds the world’s largest foreign-exchange reserves, allowing it to fill the void.
China and Russia signed a three-year currency-swap line of 150 billion yuan ($24 billion) in October, a contract that allows Russia to borrow the yuan and lend the ruble. While the offer won’t relieve the main sources of pressure on the ruble -- which has lost 41 percent this year amid plunging oil prices and sanctions linked to Russia’s annexation of Crimea -- it could bolster investors’ confidence in the country and help stem capital outflows.
Two phone calls to China’s central bank seeking comment on the terms of its currency swaps weren’t returned. Russia isn’t in talks with China about any financial aid, Dmitry Peskov, a spokesman for President Vladimir Putin, said on Dec. 20.
Funding from China has helped raise Argentina’s foreign reserves to a 13-month high of $30.9 billion, a boost for a country that has been kept out of international capital markets since defaulting on foreign obligations in 2001.
Argentina received $1 billion worth of yuan earlier this month as part of the three-year currency-swap agreement with China, a central bank official in the South American country, who asked not to be identified because he isn’t authorized to speak publicly, said Dec. 11. That extended the funds transfered to Argentina to $2.3 billion since October. The swap is for a maximum of $11 billion over three years.
In Venezuela, President Nicolas Maduro last month added $4 billion he borrowed from China to the country’s reserves after they fell to an 11-year low. The country now has about $21 billion in its coffers, equal to the amount of debt it has coming due in 2015 and 2016.
Venezuela, which was already plagued by shortages of everything from toilet paper to toothpaste, is also suffering from the drop in oil, its biggest export. Traders are betting that there’s an 89 percent probability that Venezuela won’t be able to make good on its debts over the next five years, according to credit-default swaps data compiled by Bloomberg.
“I don’t think this is a broad policy to support any country that asks for Chinese help,” Steffen Reichold, an economist at Stone Harbor Investment Partners in New York, said in an e-mail. “Several countries are currently in a tight spot and the Chinese are offering to help. That buys them some goodwill and influence, and promotes the use of the yuan.”
The People’s Bank of China has signed currency-swap agreements with 28 other central banks around the world, including those in the U.K. and Australia, making the yuan an alternative to the dollar for global trade and finance.
By promoting the use of its currency, China acts in its own interests as it challenges the dominance of the U.S. in the global economy.
Two months after Russia annexed Crimea in March, China signed a three-decade, $400 billion deal to buy Russian gas. Oil imports from Russia hit an all-time high in November, according to China’s General Administration of Customs. While the ruble’s depreciation affected Chinese exports to Russia and made it difficult for the two countries to implement joint projects, the challenges shouldn’t be exaggerated, according to a commentary published in the official People’s Daily newspaper today.
China has made $47 billion in loans to Venezuela since 2007, making it the country’s largest creditor, according to Eurasia Group, a political consulting firm. Venezuela, which holds the world’s largest oil reserves, repays the loans by shipping crude to China.
In July, Xi signed trade and investment agreements for at least $7.5 billion in Argentina, cementing China’s ties to the world’s third largest soybean producer.
“China is playing an increasingly more important role and is willing to engage,”Michael Ganske, who oversees $8 billion as the head of emerging markets at Rogge Global Partners Plc, said by e-mail from London. “There is geo-strategic importance connected with” the funding deals, he said.
To contact the reporter on this story: Ye Xie in New York at firstname.lastname@example.org
To contact the editors responsible for this story: Brendan Walsh at email@example.com Andrew Janes
Marc December 23, 2014 at 9:25am The key word is AGAIN
Example of use:
I AM NOT AT THE BANK AGAIN or
AGAIN I AM NOT AT THE BANK or
I AM AGAIN NOT AT THE BANK
Now I could be focused and terribly interested in matters such as:
They discussed a Budget
They developed a Budget
They revised a Budget
They discussed a revised Budget
They passed a revised Budget
They discussed a supplementary Budget
They developed a supplementary Budget
They revised a supplementary Budget
They discussed a revised supplementary Budget
They passed a revised supplementary Budget
They reviewed the latest revised supplementary Budget
In spite of Winter, I need to mow my lawn
They published the passed revised supplementary Budget
It's Tuesday AGAIN
OPPS, did they publish in the GAZETTE?
Price of oil changed (every second), requiring discussion of the 2016 BUDGET
WOW, Lots going on ... feels like this bus is high centered ...
Springs > December 23, 2014 at 9:45am
Gold $ 1176.70
Oil $ 55.83
DOW 18016.18 CLIMBING
Vinman > December 23, 2014 at 9:40am 90.28 +0.34 (+0.38%)