Jhockey00: Hey Frank, I saw in 2 of your posts that you possibly believe the rate of of 1166 would not last the month of August & that if the rate doesn't change by Oct. 1st the dinar would be put on the blacklist.
Is your opinion of the rate change it would RI followed by it going international? I must say though this is truly an exciting time considering Abadi/Shabbi working as one and getting the reform packages down quickly now since that Maliki is now becoming a none issue or if he already is.
Interesting timing to from the info you have shared since the Iran sanctions will be lifted soon and that would force Iraqs hand to revalue.
Frank26: Greetings Newbie.......... i appreciate Your question.
Every MONDAY CC brings You things You can NOT find on the internet.
With my lack of posting this week ........ Tomorrow's CC (Monday) will once again bring You a Large hunt by Your TEAMS.
Let me give You an example :
Do You notice how "SOME" articles use the term ......... "KEYWORD"...... ?
Well for the first time may we share with You KTFA FAMILY .......... Whenever You read this word .......... Replace it with .......... DRS.
WHAT ??? !!! ......... FOR REAL ??? !!!
Should we take this as an opinion?
IMO........... You should just take it........... To Prayer.
Can You imagine what else i have to tell You tomorrow? (Monday)
A POWERFUL MR REPORT of the IRAQ DINAR.
My apologies but i PROMISE .................. It WILL knock Your socks and bunions off !!!
You are caught up with our files ....... TOMORROW WE OPEN NEW ONES WITH YOU.......... THAT ARE TWO WEEKS DOWN THE ROAD.
Hope You have the time to join us.
My Pure Sincere Aloha to You KTFA FAMILY......... KTFA Frank........
Bluedog » August 10th, 2015, ZEBARI WAS SORTA LIKE A DEER IN HEADLIGHTS....... THE ACCUSED BY THE FILES OF CORRUPTION WHEN HE WAS MINISTER OF FOREIGN AFFAIRS IN THE MINISTER OF FINANCE AS WELL ........ THOUGHT HE WAS A GOOD MINISTER MYSELF IN BOTH POSITIONS BUT YOU NEVER KNOW WHAT THEY DO BEHIND THE SCENES...............
I see now Barzani is sticking his fist out and do not touch Zebari or I will call it quits with Baghdad .............. Bluedog
Walkingstick » August 17th, 2015, 12:17 am
Iraq's al-Maliki and a curse
Reforms advocated by al-Abadi today have no meaning if al-Maliki has not been held accountable legally and by the impartial judiciary.
Middle East Online
By Farouk Yousuf
Nuri al-Maliki refused to hand over power and wanted to add another four years Aajafa after eight precedents to the lives of Iraqis filled Balinkd. While failing to reach that goal imposed on the ruling Shi'ite team in Iraq to deliver a symbolic position, serve as a source of immunity to protect it from the possibility of being held legally accountable, he was what he wanted when he was appointed vice president.
But al-Maliki was sacked in the first action taken by his successor in a series of procedures in order to save his government from collapse caused by al-Maliki's policies during the Hakpth in which the level of corruption has risen to its highest level.
Because the fingers are all now refer to al-Maliki as the first mastermind of what he suffered the Iraqi economy from a public breakthrough by mafias, money laundering, smuggling and contractors phantom trades and donations illegal that led to the waste of a lot of public money it has been clear that it is close to the grip of justice after he gave up his ruling Shi'ite Alliance, which has become announce support for the so-called "reforms" al-Abadi.
This did not find the man, identified only stubbornness in front of him to flee to Iran.
It may be that it could have been masterminded from Abadi, in order to get rid of the embarrassment that may cause him to provide leader of the party to the trial and at the same time get rid of the man who is a permanent presence a nuisance. Iran, which has sent an official invitation for the owners to had been standing (in any capacity ?!) behind Abadi approval on the travel of al-Maliki openly and through the Baghdad airport, in order to make a deal of some sort with the Iraqi government lead to a drop or al-Maliki exception of all legal action taken right in the biggest corrupt leader.
In both cases, the whole blame will be directed to Abadi. This is because the escape of al-Maliki Oosttinah legal accountability will necessarily lead to a lot of not to open the files of corruption. The man was not just a corrupt intermediary or beneficiary. What will lead to investigations and became a trader that the man was running operations corruption that he is not anyone else to enter the Iraqi economy in a maze fictitious transactions and projects that remain a dead letter after the total cost paid, not to mention the tractor army of retirees did not serve in the State Iraq's only a few months or that they were not part of the state someday, in addition to what came to be known Balvdhaiaan, they are soldiers and officers who Alohmeon or paid with the monthly dues from their jobs is to leave their homes.
Thus, it is al-Maliki has established a system of corruption, the number of beneficiaries has been and continues to remain close to the time is greater than that countless.
What it is said about the fact that the role played by al-Maliki in corrupting the society down to dissipate the wealth of Iraq outside revive infrastructure destroyed can not be ascertained only by eliminating plans. Therefore, any attempt to protect al-Maliki but Tertketb is a new crime against the Iraqi people, which was hit by the austerity measures who lived his whole life austere.
Will be the reforms advocated by the Abadi today it has no meaning that is not legally accountable Maliki and by the impartial judiciary, non-politicized. This is because the issue of corruption is the node that stand in the way of every attempt at reform. So how Iraq moves to reform the economic conditions of the stage if corrupt continued to impose their agendas on the Iraqi economy?
The felt-Maliki of accountability, Iraq will not cure the curse. It will destroy the curse of generations and generations to come Iraq, it would be right to direct us and vilify the curses of our age.
Thunderhawk » August 16th, 2015, Backdoc Alert
Yuan Market Calms After Historic Currency Regime Shift
China’s foreign-exchange market is stabilizing after a historical week that saw the biggest selloff in two decades and a move to a more market-driven currency regime. Here’s a look at where things stand after the volatile trading days.
Fixing Converges With Spot:
The market exchange rate has converged with the official reference rate, or fixing, since Thursday after consistently trading more than 1 percent weaker in recent months. That suggests the policy adjustment may be achieving its goal and that there’s less likelihood of movements of similar magnitude going forward, according to RBC Capital Markets.
On Tuesday, the People’s Bank of China cut the fixing by 1.9 percent, the biggest decline since 1994. The change was an attempt to align the official and market rates, as the central bank moves to a new regime where the central bank gives supply and demand more sways in deciding its foreign exchange rate.
Investor expectations for swings in the yuan have declined after the initial spike following the surprise shift on Aug. 11. Three-month implied volatility for the offshore yuan fell to 5.4 percent Friday, down from 7.8 percent, the most since 2011 when Bloomberg started compiling the data. The gauge has still more than doubled from earlier this month.
Traders have pared their expectations of the yuan’s depreciation. Twelve-month non-deliverable forwards, which investors use to speculate or hedge against moves in the yuan, traded 2.5 percent weaker to the official fixing on Friday, narrowing from a discount of 4.2 percent on Aug. 11, the most since 2008.
The median forecast of nine analysts who provided their predictions since Aug. 12 was for the yuan to weaken about 2 percent to 6.5 per dollar by the end of this year
Thunderhawk » August 17th, 2015, 1:28 am Backdoc Alert
Away From Dollar: Russia, China to Create Entirely Different Gold Market
While key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia, China and other emerging economies are involved in "the genial move" to establish an entirely different gold market, F. William Engdahl underscores.
Key central banks, particularly the Federal Reserve and Bank of England, and Western market players have long been accused of clandestine gold price manipulating aimed at preserving the dollar's role "as world reserve currency primus," American-German economic researcher and historian F. William Engdahl writes.
"The COMEX gold futures market in New York and the Over-the-Counter (OTC) trades cleared through the London Bullion Market Association do set prices which are followed most widely in the world. They are also markets dominated by a handful of huge players, the six London Bullion Market Association gold clearing banks — the corrupt JP MorganChase bank; the scandal-ridden UBS bank of Zurich; The Bank of Nova Scotia — ScotiaMocatta, the world's oldest bullion bank which began as banker to the British East India Company, the group that ran the China Opium Wars; the scandal-ridden Deutsche Bank; the scandal-ridden Barclays Bank of London; HSBC of London, the house bank of the Mexican drug cartels; and the scandal and fraud-ridden Societe Generale of Paris," Engdahl narrated.
Furthermore, Western banks are issuing numerous paper "gold-futures" and other speculative contracts which are in fact disconnected from real physical gold.
In a word, operations with the precious metal in London and New York are in questionable hands, the economic researcher noted.
The West's ultimate goal is to preserve the dollar's monopoly in the market thus breathing life into the US-led global financial system. But no one likes monopolists.
Predictably, the current state of affairs cannot satisfy rising economies, such as China, Russia and other emerging powers.
However, "[r]ather than scream and cry 'fraud' at the owners of the COMEX/CME or the London Bullion Market Association Big Six clearing banks, these countries are involved in the genial move to create an entirely different gold market, one that not JP MorganChase or HSBC or Deutsche Bank control, but one that China, Russia and others of a like mind control," Engdahl stressed.
This new approach is connected closely with the China-led New Silk Road project and the Shanghai-based Asian Infrastructure Investment Bank (AIIB).
In May 2015 Beijing announced it had established a state-run gold investment fund, aiming to bolster China's role in global gold trade. The new initiative is a part of China's ambitious One Belt and One Road plan. The "Silk Road Gold Fund" will invest in mining projects in the regions along the New Silk Road encouraging central banks of its members to increase their holdings in the precious metal.
"As China has expressed it, the aim is to enable the Eurasian countries along the Silk Road to increase the gold backing of their currencies. That sounds very much like some clear-thinking and far-sighted governments are thinking of creating a stable group of gold backed currencies that would facilitate orderly trade free from Washington currency wars," the economic researcher elaborated.
And Russia is actively cooperating with China in this field, he underscored, adding that just before the creation of China's new gold fund the countries inked a deal to explore the gold reserves in Russia's Magadan region.
Over the past several years Russia has been rapidly replenishing its vaults with golden bullions. In accordance with official data, Russian physical gold reserves currently amounted to 1250.9 tons in June 2015.
Today Russia is considered the world's third largest gold producer with 245 metric tons produced in 2014, while China produces over 450 tons a year.
"South Africa, also a member of the BRICS along with China and Russia, stands to add to the new energy surrounding a renaissance in gold as a support of solid, well-based currencies to replace the diluted and devalued dollar system," the researcher stressed.
According to Engdahl, the New Economic Silk Road, integrated with Russia's new Eurasian Economic Union, are more than just energy and railroad infrastructure: they are the central nervous system of the future largest and fastest-growing economic space on Earth.
Interestingly enough, according to the ANZ Research report "East to El Dorado: Asia and the Future of Gold" the gold price may soar as high as $2,000 a troy ounce by 2025. ANZ Research underscored that gold, despite its current slump, remains both an investment and a defensive asset. The rise of emerging economies, such as China and India will facilitate the demand for gold investments.
"While most eyes are fixed on COMEX or the London Bullion Market Association listed daily gold price fix, the real worth of gold as a currency reserve and a standard of monetary soundness is growing in worth by the day," Engdahl concluded adding that this trend is a real pain in the neck of the US Treasury, Federal Reserve and Wall Street.