MountainMole: This is our week, the one we've been waiting for so long. Just think one of these nights we will lay our head down on our pillow to sleep and when the morning dawns we will rise to the day one our exchange. We lay down somewhat limited but wake to be released in such unbelievable way. Too good to be true but this is true
Lilypad: we are seeing more and more articles coming out of Iraq stating in the past tense that Mosul is liberated. We are waiting for the official announcement by Abadi which will kick off the financial reforms into warp speed. Abdi projected to send the 2017 budget to Parliament on Sept. 10th.via article in print. Announcement of liberation of Mosul kickoff and coordinated with everyone in place and ready for financial reforms.
Fireball92: GM ALL. I agree. w/ the laws and Mosul jabber It seems all is looking good that the budget open on 9/9.. Now, will they pull the trigger immediately or wait for the Fiscal year...
Yada: Fireball I would like to think they will at least pull it for private groups.
Skipper2: Fireball - Or wait for change of POTUS, politics or geopolitics..
Yada: Skipper. Believe the rv is much bigger than our politics. The world needs it now.
Ecubucs: Info Alert: Ghanimi named new defense minister today. Look for more laws this week/next week maybe Mosul Announced...
Emailed to Recaps:
From Red Lily: Iraqi government, Kurds to start talks about oil dispute -Iraqi spokesman
29 August, 2016
An Iraqi worker maintains an oil pipe at Nahr Al-Umran gas refinery in Al-Dier District, northern Basra July 17, 2009.
BAGHDAD, Aug 29 (Reuters) - The Iraqi government and the Kurdish regional authorities in northern Iraq will discuss a dispute on oil revenue sharing during bilateral talks on Monday, a government spokesman said.
The oil issue will be among the topics to be discussed in Baghdad by Prime Minister Haider al-Abadi and Nechirvan Barzani, the prime minister of the Kurdistan Regional Government.
Iraq's oil ministry said on Friday it would consider selling crude through Iran should talks with the autonomous Kurdish region about oil exported through Turkey fail.
(Reporting by Saif Hameed; Writing by Maher Chmaytelli; Editing by Susan Fenton)
Don961: News and announcements
1 Gold bullion coins that will be on sale under which the prices Tuesday 2016 / 8 / 30 this week 29/08/2016
2 . ( Statement issued by the Central Bank of Iraq ) , commenting to the chest of opinions about the work of the sale of foreign currency window of the Iraqi Central Bank wishes to state follows 08/29/2016
3 . To / licensed banks all ( electronic form ) 08/29/2016
Item 2 translated :
Statement issued by the Central Bank of Iraq
When released from opinions about the work of selling the currency window
Commenting currencies like the Central Bank Iraq to show "that the sale of the currency window is the way to ensure the stability of the exchange rate
Dinar cross meet the requirements of the Iraqi economy through the provision of forward foreign currency to cover Private sector imports of goods and services, in addition to the needs of citizens For the purposes of travel, medical treatment, study outside Iraq, despite the absence of any Allocations in the budget since 2003 and so far for this purpose, however, the The bank has worked to develop its procedures in this regard by encouraging banks Dependence mechanism to open letters of credit for import purposes rather than style
Remittances, reaching sales ratio manner letters to more than 70% of the To carry out operations
Basically Foreign currency sales, as well as the Central Bank has set the standard
Sell the dollar to banks include the extent of its commitment to compliance with anti-money laundering And the financing of terrorism, as well as the preparation and application of standards for the electronic system for selling window
And the purchase of foreign currency) Alhawwalt (and giving a greater role for government banks to sell And buy the US dollar and the development and verification sources of funds used for the purpose of buying the dollar
From the sale of foreign currency window.
Iraq Central Bank
Samson: The blockchain revolution in banking and trading
The time it takes to settle a trade with blockchain could be slashed from days to a matter of minutes.
A change is coming to financial services that its proponents compare to the introduction of the internet: its effects will be dramatic, but it’s hard to see all its potential yet.
The change is the introduction of blockchain, or distributed ledger, technology, which could have broad impacts across banking and trading for both individuals and institutions.
For private investors, the technology could allow for cheaper share trading and faster settlement. It could also help provide confidence to market participants in times of stress and allow more issuance of stock, particularly from smaller companies.
Blockchain technology is best known for its role underpinning digital currency bitcoin, but its uses are much wider.
The technology allows all participants in a network to agree that each transaction has taken place and to keep a record of all transactions, rather than leaving the record-keeping to a central authority.
Equity trading currently requires a settlement process involving post-trade clearing houses that exchange cash for shares and keep a register of ownership changes. These intermediaries can help give investors confidence that they will get their assets from the unknown party they are trading with.
But the current settlement process is less efficient than an exchange on the distributed ledger could be, according to Judd Bagley, director of communications at Nasdaq-listed Overstock.
The online retailer last year launched two bond offers using the distributed ledger and is working on issuing shares using the technology.
“When that process is moved to that venue (on the blockchain) the whole process takes about 10 minutes and costs about 80-90 per cent less than otherwise,” Mr Bagley told The Australian. “And that’s really because you’re taking so many intermediaries out of the process.”
The Nasdaq was also involved in a transaction where unlisted blockchain developer Chain.com issued its own shares to a private investor using the distributed ledger.
Research into blockchain’s possibilities has been widespread across the financial services industry. Ron Quaranta, chairman of the Wall Street Blockchain Alliance, points to another blockchain pilot program focused on syndicated loans — loans between corporations that are securitised and traded in a “very inefficient” process that involved in the order of 25 million faxes last year.
“I’ve often called 2016 the pilot year and I would suspect as we enter 2017 we’ll start to see these pilots go into production,” says Quaranta, who is also the chief operating officer of Loyyal, a blockchain start-up focused on loyalty and rewards points.
“I have the privilege of speaking to executives at banks and broker dealers. Almost all of them have some proof of concept in the works or have teams focused on how will blockchain change the work of what they do in banking, payments or trading equities.”
A report by the World Economic Forum this month shows the depth of interest from the financial services community. At least 24 countries are currently investing in distributed ledger technology, with venture capital investments passing $US1.4 billion ($1.85bn) in the past three years. Some 80 per cent of banks are tipped to initiate distributed ledger projects by 2017.
The US is host to several start-ups in this space, but interest is global. “It’s likely you’ll see a quicker path to adoption in smaller economies,” says Canada-based Matthew Spoke, founder and chief executive at blockchain start-up Nuco. He compares this to communication technology: “A large part of the African continent skipped over the need for landline telephones and went straight to mobile.”
The ASX has also made well-documented effort in this area, working with New York-based Digital Asset Holdings on a prototype of a distributed ledger clearing and settlement system.
Before the technology could be widely adopted, regulators would need approve its use. The industry is also working on increasing the volume of transactions per second that the technology can handle, which is not yet high enough for public equity markets.
Security is also front of mind. Although the distributed ledger offers a key advantage over centralised record-keeping — one participant can’t tamper with the record of transactions because every participant holds this record — there are still questions about how to prevent theft. High-profile cases such as the theft of about $US72 million worth of bitcoins from a Hong Kong exchange this month raise fears about safety.
Although experts are reluctant to predict a date for its widespread adoption, the introduction of blockchain technology to settle equity trades, or to create and exchange new securities, would have clear implications for private investors. Given the potential to reduce costs, the technology’s advocates expect the fees for buying and selling stock to be dramatically reduced.
The time it takes to settle a trade could also be slashed from days to a matter of minutes. Not only would faster settlement mean investors would have access to their cash more quickly after selling shares, it could also make a difference in times of market stress.
Overstock’s Bagley points out that during the GFC, institutions were hesitant to do business with Lehman Brothers and Bear Stearns because they worried those banks might not be solvent in three days when the trades settled. “It (blockchain technology) would make institutions at least more willing to engage in the kind of liquidity generating trades that are generally considered to be healthy for markets,” he said.
The technology could also allow for alternative securities trading venues where shares in pre-IPO companies could be traded. This could allow investors to take stakes in smaller or earlier stage companies, and to access more investment opportunities.
If and when blockchain technology becomes commonplace, it could reduce current inefficiencies in a way Bagley described in graphic terms at a New York conference this month:
“The simplest solution is to take Wall Street behind the barn and kill it with an axe.” LINK
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WAKE UP CALL: Our Entire World is Going To Change -- BILL HOLTER
SGTreport.com Published on Aug 26, 2016
The cartel hit gold hard again on Wednesday selling $1.5 BILLION is paper gold into the market in ONE MINUTE and as JS Mineset's Bill Holter notes, "$1.5 Billion of gold is close to 2% of global production and to see that sold in one minute is laughable. Who has that amount of gold to sell? And the answer of course is almost no one.
And what trader would ever sell in that fashion?
And the answer is no one would want to keep a job if they were selling for profit. So the sell was obviously to create price, a lower one." But as the bond market and rising LIBOR rates are telling us, the system is coming apart at the seams and the coming collapse will cause "our entire world to change."