Post From Wealthwatch.world Chat Room 7-19-15 Night Time Discussion
Chattels - Sczin - OOTW - Donnie & Abraham
chattels: ‹@OOTW› Do you disagree with Kxxx timeline ?
OOTW: ‹@chattels› yes i disagree and how
chattels: ‹@sczin11› Unless and until there is greater control of the Syrian border, I doubt that the tariffs can / will be implemented. We shall see.
chattels: Could such control be accomplished by the 1st ? Possible, but unlikely, IMO.
chattels: I expect to see an effort to " close " or control the Syrian border as the beginning of the " battle for Mosul ".
vtech: they will never ever ever give the world any clue as to when
vtech: news is a game
tech: a wicked very sick game
chattels: the battle for the hearts and minds of the Mosul civilian population is begun and ongoing and we are seeing strategic attacks upon the perimeter of Mosul
] chattels: i have been anticipating a coordinated effort by the Peshmarga upon Hawija and recent reports suggest that a softening of the DAESH forces has begun through U.S. air strikes
chattels: I do not profess any military expertise, but I am more than interested and I have tried to stay " informed ". I concede that if the news reports are deceiving than I am likely deceived.
chattels: Deutsche and Goldman ignite an oil war in Kurdistan John Dizard
[05:53:12 PM] chattels: www.ft.com/cms/s/0/6b707e...
[05:54:06 PM] chattels: The KRG asserts that it has the right to export oil from fields that have been developed by companies with whom it has production-sharing agreements.
[05:54:22 PM] chattels: High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email firstname.lastname@example.org to buy additional rights.
www.ft.com/cms/s/0/6b707e... The Baghdad government says the regional government does not have that right, and that all receipts for oil produced within Iraq’s boundaries must be paid into accounts it has approved.
Kurdistan retorts that the central government has an obligation under the Iraqi constitution to pay it 17 per cent of the entire country’s oil receipts and that it has not done so. That is true.
chattels: High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article.
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There can be different opinions on which government is morally in the right, or which one would ultimately prevail after years of litigation.
From the point of view of shy, passive bondholders, it would seem that too many foreign courts or potential foreign oil customers have tended to defer to Baghdad’s sovereignty.
chattels: For now, at least, the US government is taking Baghdad’s side, and they control the dollar clearing system.
chattels: Baghdad and Kurdistan must come to terms. They probably will, after Ramadan and the summer market pause.
chattels: High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email firstname.lastname@example.org to buy additional rights. www.ft.com/cms/s/0/6b707e...
The Republic of Iraq, whatever its other problems, has very little foreign debt, rising oil production and no significant international legal disputes. It has parliamentary authorisation to issue international bonds.
Baghdad needs to make a long-term financial arrangement with Kurdistan. The minister of finance of the republic, Hoshyar Zebari, is a Kurd.
chattels: Select the Iraqi Parliament Speaker Salim al-Jubouri, next Saturday as the date for the next parliamentary session. Statement of the Office Jubouri said he identified "next Saturday, corresponding to 07/25/2015 as the date for the next parliamentary session."
He added that al-Jubouri called on council members to "attend the hearing as scheduled, and follow-up materials on the agenda."
The Council held its fourth legislative term of the first parliamentary session of the third second legislative year, on the fifth of July of this, to disable its meetings shall thereafter because of the Eid al-Fitr.
chattels: Courtesy of sczin11
tipsyterror: No way that Iraq has the kind of time Kap is suggesting.
Abraham: I don't believe they can continue with the existing rate because the application of tariff's would be part of the stand by financial arrangements with the IMF and once the tariff's are applied the cost of imports increas.
Higher prices without an increase in rate would cause social unrest and lost in confidence in the Prime Minister
disciple7: GE everyone
Abraham: If I was establishing a manufacturing facility in Iraq I need to know the rate of the tariff's pertaining to the raw materials I will use in the manufacturing of my product because I would need to know if my product would be competitive and if for my investment in Iraq I can make a reasonable return on my investments. So tariff's are extremely important both to Government and investors
Abraham: I know from experience. I owned the largest printing and packaging plant in the Caribbean. I manufactured the Winston and Salem tobacco packaging for RJ Reynolds because I produced good quality at a competitive price
Abraham: Tariff's on Raw Materials like Paperboard' ink etc played an important part of my plant being competitive
Abraham: But I also had the Rolls Royce of machinery a Bobst Champkain inline printing printing and die-cutting that produced 1.5 million tobacco boxes in 8 hours
Abraham: As a manufacturer tariff's are extremely important
Abraham: If Iraq desires to have a marketplace economy. They must have tariff's inplace
disciple7: ‹@Abraham› thanks for sharing
Abraham: ‹@disciple7› welcome. I share to educate iithers. I take no credit what-so-ever. God guided me and gave me the wisdom. He takes the Glory
lonegunman: ‹@Abraham› I just want to see them go international ! tarriffe's are positive
Abraham: ‹@lonegunman› yes
lonegunman: ‹@Abraham› ford motor is expecting and forecasting to be in Iraq in 2 yr;s
lonegunman: be back
Donnie: Texas Gold Depository To Circumvent Federal Reserve System; Will Accept Bitcoin "The really interesting part about this depository, which hasn't been getting a lot of press," is that "with this depository, private individuals and entities will be able to purchase goods,
and will be able to use assets in the vault the same way you'd be able to use cash," Rep. Giovanni Capriglione, author and sponsor of HB 483 said. By Taylor Tyler | Jul 16, 2015 01:21 PM EDT
Donnie: As Texas moves forward with plans to open its own state gold depository and repatriate about $1 billion worth of gold currently stored in an underground Manhattan vault,
the state lawmaker helping to spearhead the effort, Rep. Giovanni Capriglione, recently took time to remind people of exactly how groundbreaking the plan is.
Donnie: First a little background. In mid-June, Texas Gov. Greg Abbott signed into law HB 483, paving the way for Texas to repatriate $1 billion in gold from New York, bringing it home to be stored in a yet-to-be-built Texas Bullion Depository, as HNGN previously reported.
Many wonder if this is the first step in Texas' plan to secede. "Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals," Abbott said in a statement in June.
"With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state."
On to Capriglione, the author and sponsor of the bill, who recently appeared on the Trunews talk show to speak with host Rick Wiles about what the legislation could mean for Texas.
"The really interesting part about this depository, which hasn't been getting a lot of press," Capriglione said, is that "with this depository, private individuals and entities will be able to purchase goods, and will be able to use assets in the vault the same way you'd be able to use cash," reported the Texas Observer.
That essentially means that people can conduct transactions backed by gold stored in the Texas depository, effectively circumventing the Federal Reserve and fractional reserve banking practices in general, according to The New American.
As if the second largest state in the nation deciding to create its own gold depository to circumvent the Fed isn't a big enough deal in itself, Wiles then breached the subject of Bitcoin, a highly secure, decentralized cryptocurrency that proponents say has the capability of undermining the entire banking system and putting the power of money back in the hands of the people.
"Is there any possibility there could be a Texas-style Bitcoin? Wiles asked. "OK! That would be
Donnie: "This is different than your traditional bank - a traditional bank lends money. Especially if you're in Greece right now, you know that if you go to the bank, and everybody went to the bank to try to get their deposits out, there's not enough paper money to cover it.
That causes a whole bunch of concerns. What this depository does is, it doesn't allow that - if there are 5,000 bars of gold in there, there will be 5,000 gold bars there, and you'll be able to access your deposits directly upon demand," Capriglione said, according to The New American.
"You can write checks to individuals who have gold depository accounts, and you'll also be able to write checks to individuals and corporations who don't have gold depository accounts," he explained.
"We set up a system of depository agents so you can have any corporation, any group, basically start a depository agent, and they can send and receive through this depository system, outside of the Federal Reserve System."
Abraham: Governments may impose tariffs to raise revenue or to protect domestic industries from foreign competition, since consumers will generally purchase foreign-produced goods when they are cheaper.
While consumers are not legally prohibited from purchasing foreign-produced goods, tariffs make those goods more expensive, which gives consumers an incentive to buy domestically produced goods that seem competitively priced or less expensive by comparison.
Tariffs can make domestic industries less efficient, since they aren’t subject to global competition.
Tariffs can also lead to trade wars as exporting countries reciprocate with their own tariffs on imported goods. Groups such as the World Trade Organization exist to combat the use of egregious tariffs.
Abraham: Governments typically use one of the following justifications for implementing tariffs: To protect domestic jobs. If consumers buy less-expensive foreign goods, workers who produce that good domestically might lose their jobs. To protect infant industries.
If a country wants to develop its own industry producing a particular good, it will use tariffs to make it more expensive for consumers to purchase the foreign version of that good.
The hope is that they will buy the domestic version instead and help that industry grow.
To retaliate against a trading partner. If one country doesn’t play by the trade rules both countries previously agreed on, the country that feels jilted might impose tariffs on its partner’s goods as a punishment. The higher price caused by the tariff should cause purchases to fall.
To protect consumers. If a government thinks a foreign good might be harmful, it might implement a tariff to discourage consumers from buying it.
TxBrand: ‹@Donnie› wonder if there will be a different rate for the depository ? wonder if we will have a different currency ?
chattels: As the US continuously stresses on the importance of supporting the right partners in the region, perhaps the time has come to determine who the right partners are.
Is it the corrupt central government in Baghdad, which has declared it does not want US help in any way and is basically a satellite of Iran?
Or is it the Kurds, who have actually made significant efforts in defeating ISIS on behalf of the rest of the world and have proved themselves to be reliable US boots on the ground against the extremists?
chattels: The US needs to more deeply consider the interests of the groups it is arming on the ground. Ultimately, ISIS will continue to perpetrate the kinds of horrors we have seen in recent days because it sees potential propaganda and strategic gains.
chattels: rudaw.net/english/opinion... http://rudaw.net/english/opinion/17072015
Abraham: The need to remove Maliki immediatel. To me this is of prime importance to show the world Iraq is serious about security and corruption
Abraham: As long as Maliki is any part of the Givernment
Tex: Is Abadi as good as he seems to be,,,,,,,,He don't seem to have any power..
Abraham: The current PM cannot govern effectively
Tex: Is he really any different than Maliki,, as far as the Kurds concerned
OOTW: THERE WILL ALWAYS BE A CONFLICT WITH THE STRUCTURE OF THE CURRENT POSITIONS - VS THE SITUATION IN THE COUNTRY
Abraham: They have promised loans from both the IMF and the World Bank but in our favor they have conditions
OOTW: THERE'S TOO MUCH TENSION IN THE COUNTRY FOR IT TO HAVE WORKED OUT "BETTER" WITH A DIFF PM, WHO, BTW, WOULD STILL BE SHIA
OOTW: YES, I AGREE WITH EVERYTHING ELSE YOU'VE SAID ABRAHAM AND THANK YOU FOR YOUR KNOWLEDGE, IT'S SOUND
Tex: Back later ,, Ootw sure looks that way ,, see Ya later this evening
Abraham: I think the current PM is the right person and he has done a lot, just image what he inherited
OOTW: YES ABRAHAM, VERY TRUE
Abraham: He is doing while trying to keep everyone happy until he gets a better footing
Abraham: He is doing while trying to keep everyone happy until he gets a better footing
OOTW: YES HE IS A FAIRLY GOOD DIPLOMAT AND I CAN TELL ESP BY HIS RECENT PHOTOS HE'S PUTTING IN A LOT OF ENERGY DEALING WITH THE COUNTRY RIGHT NOW...GOD BLESS HIM
Abraham: He has to get to the bottom of things and then address failing which a square peg will be placed in a round hole
Abraham: ‹@OOTW› amen I agree
OOTW: LET'S HOPE THE SQUARE PEG IS PUT IN A ROUND HOLE WHICH IS VERY DEEP
] OOTW: THAT BEING MALIKI