Post From Wealthwatch.world Chat Room 9-4-15
Wealthwatch Special Butifldrm & OOTW Chat 9-4-15 Part 2 of 2
Butifldrm: yes, and this is an area of Iraq that can get the news out
Butifldrm: Oil prices need to rise for the people
OOTW: Dozens of depositors in front of the north branch of the Bank of Baghdad on Thursday morning due to lack of their assets retained at the bank exchange rate.
Mohammad Sabah said one of the protesters told / JD /: that the bank refuses our assets which obstructed paid in exchange, it gives us a rate of only 3 when withdraw money, which made us pretend today against the bank, demanding the recovery of our money. .
He added that the problem began to multiply, as well as ill-treatment of customers by employees within the bank, noting that most of the protesters today would file lawsuits against the bank.
He called the second protester Ahmed Kamel which has placed the company calculated in this bank, the Central Bank to intervene to resolve the North Bank, who refuses to pay off their assets problem.
Ahmed said that the demonstration today was the result of lack of credibility of the bank towards us, in addition to the problems that we have signed a deal with the bank because of our customers who are demanding their entitlements.
The agency dinars has published a report last month stating that what is happening in the North Bank in Baghdad exceeded all perceptions, and before the eyes of the government, which did nothing, because he is one of the people associated with influence in the Kurdistan region banks. .
And refrain bank to pay the full deposit, but in return the money orders exchange offices to facilitate the operations to acquire more amount of depositors' money after taking the ratio of the customer.
OOTW: He told one of the deposited corporate manager at the bank their money in the account (Gary) fraud operations against because of actions taken by the bank's depositors details Agency / JD /: that the bank procrastinating in the payment of deposits of depositors,
does not distract from the amounts deposited with him by only 3 to 5 % when withdraw money, it was signed in very embarrassing situations due to lack full amounts instruments Ahrrha to those associated with our work exchange.
He said the company's owner, who declined to be named: Strangely enough in the case, that a few days ago freed instrument in the amount of 100 000 dollars, to someone he can withdraw the full amount in exchange rate, via Bank office, ruled at the time that he could withdraw the amount,
but After 24 hours the amounts disbursed and that documented according to the account from which the company requested from the bank revealed ..
Owner of the company and expressed surprise at these measures which handles the bank transfer with companies that began operating as a broker for the disbursement of the amounts deposited, wondering what could describe these measures is to be a monument, and fraud against the depositors? . .
The title of the (56) relative to the article legal in Iraqi law (456), which refers to the monument and fraud, which stipulates: punished by imprisonment of both reached delivery Aonql possession Moved owned is for the same money or to someone else and that one of the following means using methods fraudulent.
Or take a false name qualify for incorrect Aotgarir is false for a particular incident was when it would deceive the victim and get him to delivery.
According to Article punishable by the same sentence both reached one of the previous methods to another pregnancy to delivery or transfer of possession of the religion of positive support and acted in money or discharge or on any support another can be used to prove ownership rights or any right in rem last Aotousel one of the previous methods to carry another
OOTW: The MP said the National Alliance, Ali al-Badri told / JD /: that this door is wide of corruption, economic crime and financial crime, returned silence on this issue betrayal of the country.
He called on the competent authorities to take the required Alajrouat quickly to stop the blackmail citizens operations. . He was prime minister for economic affairs adviser appearance of Mohammed Saleh had said in an earlier statement to the Agency / JD /: "
The disclaimer some banks from paying the full amount requested by the applicant under the pretext of lack of financial liquidity is contrary to the laws and calls for the Iraqi Central Bank intervention,
stressing that control banking circle of the Central Bank of Iraq is responsible for the follow-up to the safety of banks and financial liquidity flow and consider complaints and take measures to speed up and check because of non-payment of the banks and the amounts requested by the owner of the funds deposited in the custody of those banks at any time he pleases. " / / 22 / / End
Butifldrm: this is Greece Shiite going on here
OOTW: LOL YES
Butifldrm: Ok but truly this is just a case of lack of liquidity
OOTW: YES AND IT SEEMS IRAQ IS EDGING TOWARDS COMPLETE DEPLETION OF FUNDS
tourman: what rabbit will they pull out of their hat?
Butifldrm: They have used 40B to defend their currency
OOTW: YES, CRAZY
tourman: thing that drives me crazy, is they know what to do about it and they just can't bring themselves to make it so
OOTW: GREAT TO SEE YOU TOURMAN - JUST TO LET YOU KNOW, I RECEIVED AN EMAIL DETAILING INFORMATION THAT ABADI WENT ONTO IRAQI TV TODAY AND ANNOUNCED HE MAY HAVE TO SUSPEND THE CONSTITUTION
BOBBY: Curious......... does anyone over there see this?
OOTW: TOO MUCH CORRUPTION
tourman: ‹@OOTW› wow, thats scary
OOTW: PERHAPS THE ONLY WAY THAT THE GOI CAN EFFECTIVELY DEAL WITH THE JUDICIARY AND THE RELATED DEMANDS TO DISSOLVE THE JUDICIARY
OOTW: WE JUST HAVE TO BE PATIENT
OOTW: THE CLERICS ARE BECOMING RELENTLESS ON THIS ISSUE
tourman: extreme measures may need to be implemented as we are seeing
Butifldrm: I read an article today that Mahmoud was in hiding
Butifldrm: He is and needs to be scared
OOTW: I SURE HOPE HE IS BUTI
OOTW: THERE'S SO MUCH SENSATIONALISTIC NEWS
tourman: I did notice the operative word there OOTW "MAY"
OOTW: BUTI WHERE WAS THIS ARTICLE FROM?
OOTW: YES LOL
OOTW: TOURMAN LOL
tourman: I don't think we have seen a slow down in the progress of the reforms though have we?
tourman: some hiccups
Butifldrm: I'll get it
OOTW: THANKS BUTI
OOTW: TOURMAN, THE SITUATION CURRENTLY SEEMS TO BE THAT ABADI , MASSUM AND JOBOURI ARE INDEED PUSHING FOR REFORMS,
BUT THERE'S STILL MUCH RESISTANCE AND SO THE CLERICS , EFFECTIVELY, ARE COMING OUT IN SUPPORT OF THE PEOPLE, WHO, IN EFFECT, WANT TO ENACT MANY OF THE SAME CHANGES THE THREE PRESIDENCIES WISH TO ENACT
OOTW: THE CLERICS COMING OUT, IS LENDING FUEL TO THE FIRE OF THE CAUSE OF THE IRAQI PEOPLES
OOTW: THE PROTESTS ARE SNOWBALLING AND WILL CONTINUE TO IMHO
tourman: yes, tremendous pressure on the religious side for sure
Butifldrm: Document: President of the Supreme Judicial Council is trying to hide the facts before departure
Butifldrm: as we see the only way to reform in Iraq is thru the Clerics
OOTW: YES I REMEMBER THIS ARTICLE
OOTW: EXCEPT I'VE SEEN NEW PHOTOS OF HIM AT THE SJC SITE
OOTW: WE'LL SEE
OOTW: The President of the Supreme Judicial Council Judge Medhat al-Mahmoud message to the Presidency of the courts of appeal came in view of the current conditions and related demonstrations citizens and increasing threats to storm the courts,
so we call upon the honorable court presidents to withdraw all cases related to officials, the issues of financial and administrative corruption and issues of integrity and deposited in places that are honest and outside the headquarters of the circles .
Butifldrm: Of Course he can't get out
OOTW: IF IRAN IS CONNECTED TO THIS, THEY EITHER WANT NOW TO DISTANCE THEMSELVES OR WILL END UP HELPING MALIKI AND MAHMOUD AND THEIR CRONIES,
I JUST DON'T THINK IRAN WANTS TO CONTRIBUTE TO THEIR BAD REPUTATION AT THE MOMENT, WE'LL HAVE TO SEE
Butifldrm: LOL that's not gong to happen
OOTW: CERTAINLY STILL LIMITATIONS ON PASSPORTS
OOTW: I THINK IRAN NOW HAS TO BE SEEN WASHING THEIR HANDS OF THESE ISSUES, AT LEAST TO SOME NOTICEABLE DEGREE
Butifldrm: when the truth comes out The majority of money found will be in Iran
BOBBY: I would think Iran is putting on the best face possible at this point
tourman: ‹@OOTW› They visual of Iran openly messing with Iraq's sovereignty would upset Sistani very much.. Would not look very good
Donnie: IMO Iran has too much going for them to take a chance to ruin it by supporting MALIKI AND MAHMOUD AND THEIR CRONIES
OOTW: VERY TRUE - I'VE READ ARTICLES, ESP THIS WEEK, STATING THAT IRAN IS HELPING MALIKI AND HIS COHORTS - AND I'M SURE THIS HAS FED THE FIRE OF UNREST
OOTW: YEP, DONNIE...I THINK SO TOO
OOTW: TOO MUCH INFORMATION STILL CIRCULATING ABOUT SUSPENDED TRANSACTIONS IN DEALINGS WITH IRAN
Butifldrm: ‹@OOTW› of course, but the releasing of their sanctions are a done deal now
OOTW: AND NOW IT'S ODD THAT THE MELLI BANK ISSUE HAS BEEN BRUSHED UNDER THE RUG IT SEEMS
Butifldrm: not for long
tourman: CBI made it clear they will not deal with Melli right?
OOTW: TOURMAN, I WAS TALKING ABOUT MENTION OF MELLI IN ADDITIONAL ARTICLES
tourman: gotcha :w00t:
Butifldrm: the only thing out of Iran coming out of the economic sanctions is that they would not need to siphon hard currency out of Iraq
OOTW: BUTI DIDN'T YOU SAY THAT THE DEMS ARE GOING TO UPHOLD OBAMA'S VETO - TO KEEP THE LIFTING OF IRANIAN SANCTIONS IN PLACE?
Butifldrm: iran will more than likely come out from economic sanctic sanctions
OOTW: WOW, WELL WE'LL HAVE TO SEE WHAT TRANSPIRES NOW...HMMM
tourman: Iran is out of the bag now, be very hard to put that geni back in the bottle at this time
OOTW: YES - THERE'S AN INTERESTING PDF IN THE FORUM ON IRAN'S SANCTIONS
OOTW: HERE'S THE LINK OOTW: wealthwatch.world/showthr...
Butifldrm: ok and they will have 150B in sanctioned money returned to them
Butifldrm: that us three times the money Iraq has in reserves
tourman: I suspect Israel has plans for a strike of some sort in the next few years. They just can not sit idle about Iran now that sanctions are lifted
Donnie: the sanctions are lifted. just look at all the other countries that believe that already and have invested in Iran including some American companies. Our congress and their dog and pony show was a joke.
OOTW: DONNIE - YEP
Butifldrm: ok there is something I would like to discuss
OOTW: GO FOR IT - LOVE IT WHEN YOU TALK
Butifldrm: John Kerry came out and said if this Iran deal did not go through, the US could loose it's reserve currency status
Donnie: ‹@tourman› i read an article last week that pointed out Israel had planned 3 different strikes on Iran since 2010 - all were talked down and stopped by USA
Butifldrm: So who really holds the ability of this status?
Donnie: ‹@Butifldrm› I read that also
Butifldrm: I always thought it was Saudia Arabia/OPEC
Butifldrm: They are arch enemies of Iran
Butifldrm: So Who's lying
OOTW: www.youtube.com/watch https://www.youtube.com/watch?v=41C7RkyIObA
Donnie: IMO this just allowed the US to hold on to it's reserve currency status a little longer.
tourman: ‹@Donnie› I would not doubt that
Butifldrm: and how to the both of you?
Donnie: USA will lose it eventually then it will be the Honey Bees turn to control...
tourman: If all the other countries stop using the USD as reserve, how can the USD survive as the world reserve?
Donnie: oops - wrong movies LOL
Donnie: ‹@tourman› can't
tourman: As we have seen the BRICS are on their way to making that a reality.
Butifldrm: I believe the the things we are seeing now are a designed plan
OOTW: IDK BUTI, BUT A FEW MONTHS BACK, JACK LEW SAID THE US DOLLAR WAS FINE, NOW HE'S SAYING THAT IT'S POTENTIALLY IN PERIL
OOTW: IDK OOTW: CRAZY
Butifldrm: Sure he is Butifldrm: So did Kerry
tourman: go back to using shells and stones with holes in the center
Donnie: China's currency was in line to become the world reserve currency but with the devalue of late that probably won't happen or it was just a scam
Butifldrm: ‹@Donnie› LOL honey China was told just like Iraq to let heir currency float
Donnie: all this speculation is fun to throw around - come Feb 2016 we'll all look back at how accurate we were or how far off base we were. :)
OOTW: DONNIE, WE'LL SEE EVENTUALLY LOL
Butifldrm: When currency floats under the these world economic circumstances, it;s going to depreciate
Donnie: I don't trust Iraq's economy to allow it's currency to float now.
TxBrand: the US has something that no over country has... they all want it.. but cant get it... and we really don't know what it is... maybe soul ? drive ?
OOTW: I AGREE BUTI
Butifldrm: So IMO China is is setting the stage
Butifldrm: They have not depegged from the dollar, but they will
Butifldrm: As I said before watch china
Donnie: What's the new date for when China will be in the SDR basket?
Butifldrm: ‹@Donnie› I agree
Donnie: or considered to be added
Butifldrm: but if any currency pegged to the dollar when the ship goes down so will that currency
OOTW: YEP BUTI
Butifldrm: Ok I better get to bed. Luv all of you bunches
Donnie: sooooo.... how fast can a country depeg from the dollar?
OOTW: DONNIE - BUTI JUST PASSED ME A NOTE ABOUT THAT - WE'RE GOING TO DO SOME RESEARCH ON IT AND WILL GET BACK TO Y'ALL
OOTW: YEAH, SHE'S GREAT, ISN'T SHE, BOBBY? OOTW: LOVE THAT WOMAN
Donnie: ‹@Butifldrm› ‹@OOTW› TYVM
OOTW: :) OOTW: TYVM DONNIE OOTW: SURE
BOBBY: Ootw. ...... i agree totaly
Oneness: enjoyed reading in tonight
BOBBY: i am thankful for this site and the folks on it
OOTW: AWWW WE'RE THANKFUL FOR YOU TOO BOBBY
Donnie: SPECIAL DRAWING RIGHT REVIEW IMF Work Progresses on 2015 SDR Basket Review
Donnie: August 4, 2015
Donnie: The IMF Executive Board will formally review the composition and valuation of the Special Drawing Rights (SDR) basket toward the end of the year.
Donnie: The SDR’s value is currently based on a basket composed of the U.S. dollar, the euro, the pound sterling and the Japanese yen. The IMF reviews the SDR basket valuation method every five years to ensure that it reflects the relative importance of major currencies in the world’s trading and financial systems, with the aim of enhancing the attractiveness of the SDR as a reserve asset.
Donnie: Tiwari: The Chinese renminbi (RMB) is the only currency not currently in the SDR basket that meets the export criterion. Therefore, a key focus of the current review will be whether the RMB also meets the freely usable criterion in order to be included in the SDR basket.
The staff paper that was discussed by the Executive Directors provides some building blocks to help inform a future decision by the Board.
In addition to these issues, the review will also cover the methodology used to determine the currency weights in the SDR basket and a review of the instruments in the SDR interest rate basket. read the whole article here if you so desire: www.imf.org/external/pubs...
Links related to this chat:
ALSO, IN OUR IQD411 FORUM, WE HAVE DEVELOPED INTERESTING NEWS ON IRAN, SANCTIONS, THEIR CURRENCY, THE "RIAL", AS WELL AS OFFICIAL INFORMATION RE IRAN.
REMEMBER - IRAN IS ALREADY IN CHAPTER VIII !
PLEASE SEE THE THREAD ON IRAN HERE -
For comment section, please scroll down. Thank you.
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