FrostyTheSnowman » February 24th, 2015, 11:13 pm
DESSERT IS SERVED KTFA style!!! CC Notes 24 February 2015
DINAR DESSERT …
Today … WS brings out an article … CIA has been in Iraq for awhile and what they have been doing.
Confirmation after confirmation of our CC last night showed up in news articles today.
ISIS was tolerated for whatever reason for awhile. But now enough is enough.
We told you yesterday that the budget is published … but not ready for our eyes yet until the laws are done (hint, hint – HCL).
Today an article comes out … “Do the poor have benefits from Iraq’s oil revenue?” – (of course they do). The HCL is in the 2015 Budget … but it is buried.
Last night (and the previous Monday) we talked about the HCL (inside the Budget) and laws being done outside the budget. The judicial system needs certain laws to take care of Maliki. His criminal past is catching up with him.
Did you hear me yesterday talk about France? What is France doing in the Persian Gulf helping with their war-birds? Countries (like Hungry) are showing up in mass at the very end to help.
We are very proud of our teams!
LOOK at Post #174 (yesterday) – pay attention to these “minerals” … read the article and enjoy.
Last night Delta talked about the “jets” and the “lower denoms” – (wink, wink). Delta knew the article was coming out. A lack of “private jets” … look at last night’s notes … it will tell you why. The lower denoms were moved to be protected. If those lower denoms were in the banks [back in 2007,08 and 09], and were stolen … [what a mess that would have been].
A massive attack took place against ISIS … and there will be more.
AggieDad called me today … we talked about FATCA. Looks like Iraq will be joining the FATCA. What does that tell you? They are on the other side of the fence, aren’t they? Iraq will be able to help other countries with their reserves.
The USA gov’t wants us to use American banks. Get a wealth manager/advisor … in fact … get three. Get different opinions of what they recommend. Start with your church, ask your minister to help you find a wealth manager/advisor – someone you can trust. Go to a place you feel confident in their professional advice.
(PayItForward) – Read Post #13 … read it. He’s trying to help you understand the budget.
ZERB: “Are we finally at the point of no return?” -- We need to see the laws/tariffs … all contingent … look towards March 1st.
I’m hoping that you feel good about what you have learned.
We leave you in peace with some front-page news articles.
Do you remember last night … showed you a cartoon … I kinda mocked Iran? Iran is now saying “we don’t want any problems.” That’s intel!
When you see Iran … (started last summer) … coming to the Nuclear Table … news reporting today … “Gains hailed for US-Iran Nuke Deals”
Why would Iran suddenly “give-up” their ambitions of nuclear capabilities?
The deficit in the budget … it’s one of the reason why you haven’t see the budget yet.
The cost of oil is also a factor.
The deficit in the budget … they are going to deal with it.
Watch the price of oil. Anything past $60 a barrel is a surplus – to help the budget. Maybe, just maybe a rider can be used. (Big Smile)
Please pray for our troops!
walkingstick » February 24th, 2015, 12:40 pm • [Post 174]
24 February 2015 - 11H27
NEW YORK (AFP) –
Banks probed over precious metals price rigging: report
The United States is probing major banks over possible manipulation of precious metals markets, the Wall Street Journal said Monday.
The investigation centers on prices for gold, silver, platinum and palladium.
It is being carried out by the Justice Department with help from Commodity Futures Trading Commission, which regulates raw materials and derivatives, the newspaper said, quoting sources close to the case.
The banks targeted are HSBC, Bank of Nova Scotia, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Societe Generale, Standard Bank and UBS.
The probes are at the preliminary stage, but HSBC, in releasing yearly results Monday, noted requests from the Justice Department and the CFTC over the precious metals probe, the Journal said.
It is not the first time the role of banks in determining the price of precious metals has been questioned, but the probes carried out so far, mainly in Europe, led nowhere, the paper said.
Goldman Sachs, HSBC, Standard Bank of South Africa and the German chemical group BASF have also been under investigation since November over a complaint alleging rigging of the prices of platinum and palladium.
? 2015 AFP
Banks face scrutiny over pricing of precious metals:
Tue Feb 24, 2015 4:26am EST
(Reuters) - The U.S. Department of Justice (DoJ) and the Commodity Futures Trading Commission are investigating at least 10 major banks for possible rigging of precious-metals markets, the Wall Street Journal reported, citing people close to the inquiries.
DoJ prosecutors are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the CFTC has opened a civil investigation, the newspaper said.
The banks are HSBC Holdings Plc, Bank of Nova Scotia, Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, JPMorgan Chase & Co, Societe Generale, Standard Bank Group Ltd and UBS Group AG, the Journal said.
Standard Bank spokesman Erik Larsen declined to comment on the report. The other banks, the DoJ and CFTC did not immediately respond to requests for comment.
The CFTC issued a subpoena to HSBC Bank USA in January seeking documents related to the bank's precious metals trading operations, HSBC said on Monday.
The DoJ also issued a request to HSBC Holdings in November seeking documents related to a criminal antitrust investigation it is conducting in relation to precious metals, HSBC said.
Precious metal benchmarks have come under increased regulatory scrutiny since a scandal broke in 2012 over manipulation of Libor interest rates.
HSBC was one of several banks named in lawsuits filed in U.S. courts last year alleging a conspiracy to manipulate gold, silver, platinum and palladium prices, as well as precious metals derivatives, during the daily precious metals fixes.
The century-old gold fix is a standard price for the metal that banks set twice a day over the phone. Some gold traders claim they were harmed by a scheme to manipulate the fix.
The banks operating the precious metals benchmarks, known as the fixes, said last year they would no longer administer that process.
An electronic daily silver price benchmark is now administered by Thomson Reuters and CME Group, while the London Metal Exchange provides twice-daily benchmark platinum and palladium prices.
ICE Benchmark Administration will run an electronic gold price benchmark from March 20 to replace the London gold fix.
Switzerland's financial watchdog said in November it had found a "clear attempt" to manipulate precious metals price benchmarks.
An investigation by German regulator Bafin found no signs of attempted benchmark price manipulation in precious metals, newspaper Handelsblatt reported last month.
Payitforward » February 24th, 2015, 7:24 pm • [ Post 13]
An improved security environment and an initial wave of foreign investment are helping to spur economic activity, particularly in the energy, construction, and retail sectors. Broader economic improvement, long-term fiscal health, and sustained increases in the standard of living still depend on the government passing major policy reforms and on continued development of Iraq's massive oil reserves. Although foreign investors viewed Iraq with increasing interest in 2010, most are still hampered by difficulties in acquiring land for projects and by other regulatory impediments.
Iraq's economy is dominated by the oil sector, which provides over 90% of government revenue and 80% of foreign exchange earnings. Since mid-2009, oil export earnings have returned to levels seen before Operation Iraqi Freedom and government revenues have rebounded, along with global oil prices.
In 2011 Baghdad probably will increase oil exports above the current level of 1.9 million barrels per day (bbl/day) as a result of new contracts with international oil companies, but is likely to fall short of the 2.4 million bbl/day it is forecasting in its budget.
Iraq is making modest progress in building the institutions needed to implement economic policy. In 2010, Bagdad signed a new agreement with both the IMF and World Bank for conditional aid programs that will help strengthen Iraq's economic institutions. Some reform-minded leaders within the Iraqi government are seeking to pass laws to strengthen the economy.
As of Jan 19, 2015
Iraq's daily oil production reached a record 4 million barrels in December 2014 and the country is planning to increase its share of the global oil market, said Iraqi Oil Minister Adel Abdul Mahdi. The decision is likely to push oil prices even lower.
"This figure was reached for the first time in history," he said on Sunday. "The increase in oil production will help offset the decline in oil prices.”
"We have agreed to keep the level of exports at 375,000 barrels per day (bpd) for the first three months of the year, and as of April, we will increase exports to 600,000 bpd," Abdul Mahdi said.
The previous record for monthly oil output was 3.56 million barrels per day in 1979, an official from Iraq's State Oil Marketing Organization told Reuters.
This legislation includes a package of laws to establish a modern legal framework for the oil sector and a mechanism to equitably divide oil revenues within the nation, although these and other important reforms are still under contentious and sporadic negotiation. Iraq's recent contracts with major oil companies have the potential to greatly expand oil revenues, but Iraq will need to upgrade its oil processing, pipeline, and export infrastructure to enable these deals to reach their potential.
The Government of Iraq is pursuing a strategy to gain additional foreign investment in Iraq's economy. This includes an amendment to the National Investment Law, multiple international trade and investment events, as well as potential participation in joint ventures with state-owned enterprises. Provincial Councils also are using their own budgets to promote and facilitate investment at the local level. However, widespread corruption, inadequate infrastructure, insufficient essential services, and antiquated commercial laws and regulations stifle investment and continue to constrain the growth of private, non-energy sectors.
The Central Bank has successfully held the exchange rate at approximately 1,170 Iraqi dinar/US dollar since January 2009. Inflation has decreased consistently since 2006 as the security situation has improved. However, Iraqi leaders remain hard pressed to translate macroeconomic gains into improved lives for ordinary Iraqis. Unemployment remains a problem throughout the country. Reducing corruption and implementing reforms - such as bank restructuring and developing the private sector - would be important steps in this direction.
DEFINITION: Revenues-calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
EU $7.2 Trillion 2012 All EU Members
USA $2.5 Trillion 2012
G7 $1.5 Trillion 2012 Average for G7
OPEC $107 Billion 2012 OPEC Average Members
IRAQ $103 Billion 2012 World Ranking 32 of 223
DEFINITION: Exports-This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
EU $5.4 Trillion 2012 All EU Members
USA $1.6 Trillion 2012
G7 $825 Billion 2012 Average for G7
OPEC $140 Billion 2012 OPEC Average Members
IRAQ $ 94 Billion 2012 World Ranking 39 of 189
DEFINITION: Gross Domestic Product-GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
EU $ 16 Trillion 2012 All EU Members
USA $ 15 Trillion 2012
G7 $ 5 Trillion 2012 Average for G7
OPEC $290 Billion 2012 OPEC Average Members
IRAQ $210 Billion 2012 World Ranking 45 of 177 ALSO GDP of 7% is surplus 9 of 182
DEFINITION: Expenditures-calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
EU $ 16 Trillion 2012 All EU Members
USA $ 15 Trillion 2012
G7 $1.2 Trillion 2012 Average for G7
OPEC $ 91 Billion 2012 OPEC Average Members
IRAQ $ 88 Billion 2012 World Ranking 40 of 188
Rumors has it that IRAQ has over 500 Billion Barrels in Reserves. Just as the Gold reserves has grown by multipliers.
Iraq is trading very well Black Gold for Yellow Gold.....Improving reserves for some time based on the years of out put and the numbers in the charts I have studied.
The money is there and most of all it is the "Watch the right hand, While the Left hand does magic" When the numbers are truly shown we will see how WEALTHY Iraq is NOT how RICH IMO PIF