Millionday Roundtable 5/21/14 Part 1
Welcome To Wednesday Roundtable With Millionday!
[millionday] ok let me show you this this is nuts i mean this is nuts lol
[millionday] The former head of investment banking in China at JPMorgan Chase has been arrested by Hong Kong’s anticorruption agency, a Chinese news report and a person briefed on the matter said on Wednesday, possibly opening up a significant new front in what has become a global investigation into the Wall Street bank’s hiring practices in China.
[millionday] i may be a nerd but i thought that was nuts and oh and wow lol
[millionday] brb with some news
[millionday] jpmorgan and let me say this -- think about who is in iraq and also the wall street banking hiring in china -- and the isx that is being hooked up -- it lets us see how hooked the world is and the big concept of economics and the world with Iraq
[sczin11] millionday i LOVE NUTS-- that being said, would love to hear your nerdy opinion on that package of NUTS
[millionday] trust we are the little fish in this very little
[millionday] sczin11 how was that smile
[millionday] understand that Iraq is going to be a huge huge hub for trade and the world -- the dinar is going to be a reserve currency and also we are just the ones that grabbed the shirt tail
sczin11] millionday perfecccccctttttttt!!!
millionday] The Deputy Governor of the Central Bank of the past that do not worries about the fate of Iraqi funds deposited in the bank and the U.S. Federal Iraq allocated 21 billion dollars to pay private creditors, but he does not know how many.
Pointing to some creditors have sold their money into "hunters wealth," while the abstention in the parliamentary finance committee for the modern in this matter because it is "confusing" monetary policy in the country, according to his belief. ,
[millionday] note -- i would say that is just that confusing -- Iraq does not know who or how many were paid ? that is nuts too maybe this is nuts day – smile brb with the rest
[millionday] and established the Development Fund for Iraq (DFI) of the Bank of the U.S. Federal under UN Security Council Resolution World No. 1483, for the protection of Iraqi funds from international claims or seized after 2003.
[millionday] says Deputy Governor of the Central Bank of the former, the appearance of Mohammed Saleh, said in an interview with "the world" that the reason for protection mode on the funds deposited in the United States is to protect them from the "complaints trade creditors. "
adds Saleh, said that "the debt imposed on Iraq has been settled in the Paris Convention," stressing "extinguish the debt of the private sector being the debt of a small does not exceed 35 million dollar
millionday] note -- the debt owed is very small and not anything to be worried about at this point due to what was handled by the paris club resolve etc
[millionday] and explains that "the settlement took place at approximately 21 billion dollars of private sector debt In 2006, in addition to the issuance of bonds Iraqi pay 2028 interest rate of 8.5 percent deliberating today in the global market. "
and says that "in the fifteenth of December of 2010, raised the guardianship funds Iraq, including the tutelage of the International Committee for Monitoring and Verification , which resulted in the lifting of the protection of the United States for Iraq's money. "
[millionday] note -- he is saying that the resolve has already been done to his acceptance and the protection is not needed at this point -- the bonds are agreed on and being held -- huge news
[millionday] and adds that "Iraq's money in the Fed reserved in the Development Fund for Iraq in the Fed's American." and stressed that these funds "managed by the Central Bank of Iraq." draws favor to be there to protect accompany Iraqi funds, is "protection, issued pursuant to the Presidential Order U.S. and under the emergency law the U.S. as America occupied Iraq, so it requires them to protect his money." and says that
millionday] "this protection renewed three times during the past years, ending on 22 of this month," pointing to This protection was at the request of the Iraqi government, "because she was wary of some trade creditors, who are working in the foreign private sector."
and expresses its appearance in favor of the belief that "the government will not renew the request for protection in the current year."
[texasrangersjt] So they say they don't need the protection extended.... Obama extends it..... However Iraq has the choice regardless
[millionday] the only reason that the US did that and even offered it in the first place was because they were there helping them -- that is over and they dont want protection now
[millionday] texasrangersjt exactly what they are saying
[millionday] let me see if there is any more and then i will get ya hun
[sczin11] millionday and this is GREAT GREAT NEWS
[millionday] there is more lets see what clues we can get from it then we will chat about it
[millionday] this is very important -- It is noteworthy that "despite that Iraq allocated $ 21 billion to pay off creditors , but it does not know how many. "
and adds that "some creditors have received decisions judicial ruling," while he sold some of the other funds to "bounty hunters wealth", people are buying the debt by 10 per cent of its value and keeps calling him forever.
[millionday] note -- some have sold their debt payments and they need to get all of this together on their own
[millionday] expressed the former deputy governor of the Iraqi Central Bank believed "the absence of exaggerated Iraqi deserves Reservation, although there are a few do not affect the movement of money and streamline converted to Iraq."
and asserts that "all funds belonging to Iraq found at the Reserve Fed in New York. " and said the Fed operates according to the "coupon central open to the CBI." does not see the benefit of any reason to fear "from these actions," because, he explains, "is engaged within the self-protection.
[millionday] note -- he is saying they would rather have the funds back then the coupon for the funds and they dont see any problem with protecting it themselves -- there is more brb
[millionday] With that Saleh says "This does not prevent the exposure of funds business here or there into custody," but he emphasizes that this is "not threaten the interests of Iraq."
concludes the deputy governor of the Central Bank of the previous speech by saying that "there is a group belonging to the Iraqi Ministry of Justice is working in coordination with a group of international lawyers to protect the interests of Iraq, "describing this group as" professional, "and that it" is keen on the interests of Iraq.
[millionday] note -- he is saying that they think they got this -- smile
millionday] here is more on it -- But MP Abdul Hussein al-Yasiri, a member of the parliamentary finance committee, refused to talk about the Iraqi funds deposited in New York and procedures protection, because he sees that "his statement leaves a big impact would confuse the reality of monetary policy in the country,
"as he put it, despite the fact that putting money deposited calculates Iraq in newyork have nothing to do with" fiscal policy "in Iraq.
[millionday] note -- very interesting that he refused to talk about due the monetary policy even though the calculation has nothing to do with it hmmm
[sczin11] millionday and this is great great news---- yipppeeeeeeee !! Whoooop********
[millionday] a little more -- agrees Controller, Ahmad Acoli, with the appearance of the benefit in that "money in American banks do not need to protect, "because he sees" far from danger. "
said bugsbunny for "the world" that "the accounts of Iraqi Fed American, consisted of Iraqi oil revenue, and the accounts of the central bank."
and added that "government debt on Iraq, represented by members of the Paris Club, "and that" protection imposed on Iraq's money in the past, the decision of the U.S. "because it was in danger.
[millionday] was the Minister of Finance Agency, purity of net debt, announced last month that the Iraqi government is seeking to settle the full debt owed them by Paris Club agreement. added that net debt to Iraq ended three and forty countries while negotiations are under way to repay the debt to the rest of the eight countries only.
[millionday] ok so what we have is that they want their money back and are saying they dont need the protection and dont understand why the US is saying they do
[ajay214] I remember poppy stating very clearly that they can not sell bonds and have currency auctions too. Any indication when they are going to start selling those bonds? Will they have to have a reality rate in effect to sell them?
[andrewjwhitted] How much money do we have that belongs to Iraq?
[mrref1216] US is scared that if they release it that M will use it for his advantage lol lol
[millionday] ajay214 i would say that they use many tools to control inflation and the bonds we see there are given to international gov to hold with an interest rate to gain for holding them until 2030 was it ?
[andrewjwhitted] I believe that iraq does not make interest it... but the usa does... is that true?
[drgolow] I would like to think the us is doing something to keep control of the outcome
[millionday] that is a long time to gain interest -- the bonds that we are waiting on are the ones that will be offered on the market to businesses and individuals etc
[millionday] these are much larger and are for the settlement of huge debt
[millionday] andrewjwhitted do you mean that the US will pay the interest for the iraqis or that the US is holding bonds and will get interest too
[millionday] andrewjwhitted let me look
[andrewjwhitted] I think the usa makes the interest and iraq just get a safe haven for there money
[millionday] here is that we had on the bonds >>>
[mrref1216] Millionday how much money (USdollar) is in Iraq? Any Idea?
[millionday] and explains that "the settlement took place at approximately 21 billion dollars of private sector debt In 2006, in addition to the issuance of bonds Iraqi pay 2028 interest rate of 8.5 percent deliberating today in the global market.
[millionday] i would say that is in USD without the dinar at a reality rate
[millionday] let me look for the amount we have here brb
[andrewjwhitted] And how much of iraq funds is the usa banks holding
[millionday] here is the order from the white house
[millionday] On May 22, 2003, by Executive Order 13303, the President declared a national emergency pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701-1706) to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by obstacles to the continued reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.
[millionday] The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.
For this reason, the national emergency declared in Executive Order 13303, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007, must continue in effect beyond May 22, 2014.
Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303.
[millionday] This notice shall be published in the Federal Register and transmitted to the Congress. BARACK OBAMA
[millionday] so it does not have the amount -- i will have to do some digging to see what is left
[andrewjwhitted] No idea of the amount of cash tho... cause that could make a difference
[andrewjwhitted] If it 100's of billions ... the interest alone could run a country
[millionday] ok let me go get some more brb
[bblue] I wonder how long it would take them to get their DFI USD & convert to Dinar before they RV? Is that where y'all are going with this?
[andrewjwhitted] Just looking under rocks... thats why we show up
[msidaho] millionday It looks as though Obama did do the extension whether they wanted it or not. So Im assuming they plan on having their money transfered back to them tomorrow or something like that?? Since the 22nd is tomorrow?
[millionday] it appears that iraq is not wanting the protection and how this plays out will be very interesting due to the fact the power will show
[millionday] here is more on the free zones
[millionday] A source in the General Authority for free zones of the Ministry of finance signed 7 contracts for investment in free zones during the first quarter of this year, he said in a statement to (morning), the Commission has signed four contracts with the company "SK any energy holdenx UAE investment in incense Zubair in Basra province,
after being signed earlier investment contracts with three companies to invest in the free zone, to be total contracts signed during the first quarter of the current year 7. the four new contracts, the first contract was concluded with the company trading oil derivatives in a 20,000 m 2, stating that
[andrewjwhitted] They are keeping there country above water right now... but... to move into the lime light... they got to be flowing with cash
[millionday] "the second decade include a service area of 1600 m2 special offer oil services and logistics, as well as providing maintenance services to oil projects.
the last two decades has been signed with the company business activity indicated that one area of 30 thousand square meters and free movement areas have seen vigorous investment in recent times as a result of the blockbuster corporate Arabic and foreign and local investment.
[jarhead] Wow if they don't want the money it only means they have their own
[millionday] andrewjwhitted exactly -- they need their funds in their bank but what belongs to them is calculated always
[millionday] so what we see is 7 free zones established
[andrewjwhitted] I say give it to them... and lets see where it takes us...
[millionday] that is showing the trade hub we expect being developed
[jtank] W-out a reality rate
[sczin11] millionday and obviously TARRIF laws are a coming or NO NEED for FREE ZONES
[millionday] the monetary policy has to be implemented in order for trade to even mean a thing but ooops when it comes to their economic condition -- they have to hold on to what they have ----- which is a country that was not affected by the global recession
[andrewjwhitted] They need the cash from our fed to raise there value....