BGG News Time 9/5/15 Part 2 of 2
BGG: Welcome to DinarUpdates.com for News Time...
BGG says to jtank: IMHO - it could be a "veiled threat" by Abadi to those players in the "middle ground" to choose the right side - ASAP.
BGG says to Doodle Brain: Good point on the timing...
Pablo: If they have martial law, will that stop their reforms and an RV?
BGG says to Pablo: I highly doubt that - in fact, if this is the way Abadi has to go - it will be because he needs reforms on every level.
cjquade54: remember a couple of years ago Shabibi warned all the players to choose wisely the side they're on.
BGG says to cjquade54: Go on...
cjquade54: some are choosing the wrong side
cjquade54: that's all I had to say
BGG says to cjquade54: that is obvious... some high profile Sunnis are going to get roasted.
BGG says to cjquade54: stunning developments - to say the least.
Doodle Brain : "Chairman of the parliament threatens 30 deputies Gaabathm exceeded the allowable limit and is reluctant to reveal their names". Article: https://translate.googleusercontent....ntuvawDVVPgf7g
Doodle Brain: timing is very curious...although I know that they announced that they will be going after the absentees
Doodle Brain : Said John in the receipt of the statement (IMN) a copy of "Presidency of the Council of Representatives and sent an ultimatum to the 30 deputies after Gaabathm exceeded more than twenty session," pointing out that "there are exceptional leave granted by the President of the House of Representatives of the members according to their own circumstances and extraordinary."
Doodle Brain: sorry, having trouble bringing the rest in. computer challenged today.
BGG says to Doodle Brain: that would be Jubouri about to take some scalps for threatening him with that dumb jibberish they just were... (100 signatures - blah, blah, blah)
Doodle Brain: right? It was just interesting to see today.
BGG says to Doodle Brain: what you wanna' bet there will only be 70 signatures on Tuesday if they keep up
Doodle Brain: date and rate next?
BGG says to Doodle Brain: he's like - accuse me all you want... but you gotta' show up to work first!!
BGG says to rcookie: Ok - what was the most important article of the day for you?/
Rcookie He did publicly publish some of the names of those absent for some of the reform votes including Maliki kin
rcookie : You want some bond news?
BGG says to rcookie: those would obviously be SLC (some of the 100 signatures)
Doodle Brain : The MP for the coalition of state law, Hussein al-Maliki announced, on Friday, to collect 100 signatures to the dismissal of al-Jubouri, from his post on the back of his visit to Qatar.
BGG says to rcookie: sure -- bring it!!
BGG says to rcookie: that stuff is WILD today - BTW
rcookie :Saturday 5 September 2015 | 06:35 evening | Number of Views: 399 Iraq is preparing to sell bonds in euros to obtain cash financing/..tstad Baghdad and the Iraqi government during the period preceding the Labor Day holiday in the United States, which coincides with the 7 of this month to start marketing to sell bonds worth euro US and international markets to obtain cash financing.
According to the news report by "Irak Basnzs News" and translates as "eye Iraq News," that the banks "City Krupp, the Bank of the Netherlands, and JP Morgan" will be the main source of Iraqi bonds expected to sell and which will be unsecured by source statement on.
Rcookie: He said the site "that the material yield, which he hopes Iraq collected a consequence of the sale of the bonds will be $ 6 billion to cover the shortfall in the projected budget next year, comes this release to be the first in almost a decade, was the last international items Iraq has issued in 2006. anthy 5 http://translate.googleusercontent.c...wdM4ettoTxaubw Bad / Broken Link – Page Not Available - Sorry
rcookie : These are for the projected budget shortfall
BGG says to rcookie: that has to be a translation issue - meaning "this year"
BGG says to rcookie: they do that a lot - Friday next
Rcookie: starting 7th
BGG says to rcookie: or Sunday next - almost always meaning tomorrow.
BGG says to rcookie: I don't get who will buy these bonds.
BGG says to rcookie: other than maybe the CBI - ??
BGG says to rcookie: no one outside of Iraq (and in their right minds) will invest institutional capitol on this level
BGG says to rcookie: there is sooooooo much instability right now - so many unknowns
rcookie: worth euro US and international markets to obtain cash financing
rcookie: So 6 Billion for budget gap
BGG says to rcookie: if this were translated to our stock market - who would be buying?? and ask yourself - who would be selling???
BGG says to rcookie: and my point is - they need more than these bonds to get where they need to go - I doubt anyone other than the CBI will buy them
rcookie : I know and without Investment law and legal infrastructure implemented
BGG says to rcookie: right - 6 Bil for what is likely a 40 Bil gap (and widening daily)...
rcookie : Exactly...and this one BGG
rcookie : Iraq issued bonds for $ 7 billion to pay off the debt of oil companies ... and pay the remaining crude Author: Editor: 05/09/2015 20:41 Number of Views: 722
BGG says to rcookie: all of which point to a desperate need for "buying power" ASAP...
Rcookie: 10 Billion owed to oil companies...7B in bonds paid for with CBI reserves and the other outstanding 3B paid in OIL!!!
BGG : So here it is folks - Iraq is really in the hurts for cash - they need some monetary reform that will help them (initially) with "buying power" and help them get over the hump.
satrib says to BGG: Why the need for the whole gang to come to the US for this? What am I missing?
BGG says to satrib: That is a great question!!
BGG says to satrib: whatever it is - is BIG.
subgirl : When is the Investment Law supposed to be voted on? I thought it was supposed to be voted on this coming Monday!??
satrib says to BGG: thought so but never know if it is those pesky deenar googles
Doodle Brain: In August, didn't Iraq's Oil minister say that he had paid $9B in remaining arrears for 2014 and was paying 2015 arrears in stages until beginning in 2016? Wasn't that a Reuters article?
Rcookie: Its in that one as well
BGG says to subgirl: I don't know about Monday - but they have reported next week - it will be passed.
BGG says to subgirl: and that is a very big deal.
rcookie : The Reuters news agency quoted Oil Minister Adel Abdul-Mahdi as saying that "Iraq blasted the foreign oil companies to nine billion dollars remaining from the late 2014", noting "it would pay the arrears of 2015 in stages until the beginning of 2016".
The Global companies such as BP and Royal Dutch Shell and Exxon Mobil, Eni and Lukoil in the oil fields in southern Iraq under the service you get out on the dollar in exchange for a fixed fee contracts for production.
Doodle Brain: that's it. Thanks!
BGG says to subgirl: who (investor wise) would want to invest in Iraq (bonds or otherwise) without some assurance of being able to get their money back out??
subgirl says to BGG: sure not me? lol
BGG says to subgirl: that is the crux of the Investment Law... provides investors some protections.
subgirl says to BGG: oh gotcha! thanks for letting me understand that!
rcookie : Won’t be any more of these stopgap measures after the 1st if the AML & Investment laws not in place
BGG says to rcookie: totally agreed...
daytrader : Would think it difficult to sell bonds if Abadi declares martial law.
BGG says to daytrader: I don't know - if he immediately proceeds with sweeping reforms - it could be a huge gain in confidence for Iraq.
Doodle Brain : who would want to buy these bonds? People/countries that want to control or have excess cash...just look at the Egyptian Billionaire that is buying an island for refugees to have a new home.
BGG says to daytrader: let's face it - with a B- ... it almost can't get worse
satrib says to BGG: maliki has a lot of cash...lol
daytrader : True
Doodle Brain : maybe a silly comment, but people to have control or access. Just look at everyone contributing to Hillary's foundation. Whoops, did I just say that?
BGG : There was an article out today (at some point) with Iraq not too happy about their S&P rating...
BGG : time to live in reality Iraq - it is what it is - get better.
BGG : and to finish off today's News Time -
BGG : with all the unrest,
BGG : with all the turmoil,
Rcookie: IMF will not give loans to warring country just like Ukraine
BGG: with all the internal drama and corruption in Iraq right now...
BGG says to rcookie: EXACTLY
BGG : So here it is (again) folks - Iraq is really in the hurts for cash - they need some monetary reform that will help them (initially) with "buying power" and help them get thru this time of crisis.
BGG : thanks for tuning in - tomorrow nite for News Time again!!