Post From Wealthwatch.world Chat Room 8-22-15
Wealthwatch Morning Chat 8-22-15 Part 2 of 2
TxBrand: Unfortunately, the Minister of Finance did not receive the needed political support (particularly from some key decision makers in his own party) to implement that reform program.
Thus, the budget shortfall from Baghdad, coupled with ever increasing KRG expenditure, led to more delays in government salaries and support for the Peshmerga and other vital security services.
Donnie: This selloff is about China and emerging markets, with a dash of Fed... www.marketwatch.com/story...
Donnie: Nasdaq plunges 3.5% for biggest one-day loss since June 4, 2010
Donnie: The market lost 725 billion dollars today. It lost 1.4 trillion this this week
TxBrand: "The hard times we faced under Saddam, the discrimination - you couldn't buy a house because you were Turkmen, you couldn't get a job - all this we suffered together [with the Kurds]," Kolsuz said.Kolsuz feels that Turkmen have faced even greater discrimination under the Kurds than in Saddam's campaign to "arabise" Kirkuk. - See more at: www.middleeasteye.net/new...
Doug_W: normal market correction , it will rebound
Donnie: ‹@Doug_W› not until the bottom is reached first. where that bottom is we don't know. This "could" be the bottom now or another 5+% lower. We don't know.
Doug_W: very true Donnie
Donnie: if or when the Feds move interest rates up there will be another drop unless this drop is the market already factoring in a fed interest rate rise. Many times the market reacts before the actual event happens so when the event finally happens the market barely moves.
TxBrand: The Iraqi Commission of Integrity has announced that over 2,000 people, are to face trial for corruption. www.iraq-businessnews.com...
According to a report from BasNews, this number includes 13 govenment ministers.
At a press conference in Baghdad on Thursday, the Head of the Commission, Hassan al-Yassiri declared that in support of the Iraqi Prime Minister’s reform package, they have so far investigated 2,000 cases of corruption.
Donnie: despite the fact congress hasn't approved the Iran deal, Britain is moving back into their Embassy on Sunday.
Donnie: Iran and Britain repacking opening their embassies Sunday
Donnie: [Follow-where] is scheduled to see London on Sunday re-opening of the Iranian Embassy with the participation of senior officials of the ministries of external ceremony Iran and Britain, in a move to the resumption of relations between the two countries after the nuclear deal.
And it will participate in the opening of the Iranian embassy in London, acting Embassy Mohammad Hassan Habibollah Zadeh and the number of guests British and the Iranians, including members of the Parliamentary Friendship Group of Iran British, and the heads of the Iranian institutions and some Iranians residing in Britain.
coincide re-opening of the Iranian Embassy in London, with the re-opening of the Embassy British in Tehran with the participation of British Foreign Secretary Philip Ahamond.anthy
Donnie: Deputy for the law: collecting signatures to bring to justice on charges of Barzani fall of Sinjar
Donnie: [Baghdad-where] MP for the coalition of state law Haider Star Mawla detect "collecting signatures to bring the President of Kurdistan, Massoud Barzani, to the fall of the judiciary on charges of Sinjar and delivered to Daash terrorist organization". www.alliraqnews.com/modul...
sczin11: GOOOD MORNING EVERYBODY HOPE ALL ARE WELL
Donnie: Urgent edit the village of Tal Albogerad fully in Baiji
Donnie: [Baghdad-where] the leadership of Salah al-Din village of Tal Albogerad operations forces liberated in the district of the city of Baiji, north of Tikrit Daash gangs of terrorists. www.alliraqnews.com/modul...
Donnie: ‹@sczin11› GM
Donnie: US general: a test of shell fragments from Daash in Iraq shows the effects of chemical weapons
Donnie: [Follow-where] US general said on Friday that a field test was conducted on fragments of a mortar shell fired by members of al-Daash the Peshmerga fighters in Iraq earlier this month showed the effects of mustard gas chemotherapy.
According to Brigadier-General Kevin Kilia US Marines, who leads the operations against al Daash "The field test is not conclusive evidence of the use of chemical weapons and that the fragments are subject at the present time more decisive tests to confirm this result." www.alliraqnews.com/modul...
MichelleL: good morning folks!
MichelleL: Donnie I believe if and when the fed raises, there will be a relief rally - since the speculation will be all done
forestnr4: ‹@sczin11› GM... :smile: I have lots to catch up on
Dianne777: I am so lost in all this, guess thats what i get for taking a break and livin life.
RVPlease: will be interesting to see what Iraq is going to do If oil goes down to 30 dollars a barrel or even less.... You think they have money problems now... just wait... and the RV will be flushed down the toilet...
Dianne777: ‹@RVPlease› oh dear
RVPlease: very.. very possible..... with Iran now selling also... and manufacturing world wide is on the blink.... not good.. not good at all
RVPlease: I have a first cousin who is a buyer for BP..... he tells me in all of his 20 years.. he has never seen such a glut of oil in the market...says its very possible crude will go below 30 dollars ..
RVPlease: US Crude yesterday was at 39.50
Doug_W: Supply N Demand always wins
RVPlease: and this FITCH report for Iraq...said they figured oil would be in the mid 70's a barrel by next year... which is what they based Iraqs profits on.... Give me a Break....
RVPlease: Oil last year at this time.. was 105 a barrel....
Dianne777: ‹@RVPlease› do you think iraq missed their chance?
RVPlease: I havent a clue...but I dont see how they could RV their currency... at least not what we are expecting...with oil prices the way they are...
RVPlease: their whole economy is based on Oil..
RVPlease: well...95%l percent of it
Dianne777: anybody buying their oil? i mean are we?
RVPlease: Saudi Arabia can probably weather the storm... they have tons of money... Iraq doesnt
RVPlease: I dont have a clue on who is buying Iraq oil.... Im sure we are buying some...
RVPlease: My cousin said BP is not buying their oil right now.... but thats just one company
Dianne777: ‹@RVPlease› isnt there us companies over there pumping and have contracts still?
RVPlease: They contract this oil out as far as six months in advance...so it may take six months or even longer..for this to take effect..but.... they know its coming....thats for sure..
RVPlease: Im sure there are...and I think they are pumping 4 million barrels a day... where its going... I have no idea...
RVPlease: very possible.... but CHina Manufacturing is really down... thats one reason our stock market has lost almost a 1000 points in the last two day..
Doug_W: at $30.00 a Bbl that is 130 MILLION Dollars a DAy
Doug_W: they can't prosper on 130 M a day??
Doug_W: corruption runs rampant shen they stop that they are OK
RVPlease: well... thats gross.... they have to pay to get it out of the ground too...
Doug_W: no clue what "net" is
RVPlease: I dont either....
Doug_W: even it its only 15.00 a Bbl that is still 60 MILLION a day
RVPlease: Just have to wait and see I guess..... we are certainly good at that.... See ya later.
Doug_W: mind bogling why they can't make that work
RVPlease: Doug... you talk about corruption over there.... Read This... US report revealed the richness of obscene to members of the Kurdistan Alliance as much as report their wealth to 300 billion dollars and almost the majority of its warehouse in foreign banks for investment.
The report, seen by Agency / information / "The Kurdistan Alliance has the highest figure in the number of wealthy among Iraqi officials, where the wealth of its members was estimated at $ 300 billion."
The report indicated that "there are five officials in response have more than two-thirds of this amount and 10 others have the remaining third of it."
The report said "the Iraqi List, worth wealth that is owned by more than 25 official and deputy which about $ 180 billion."
RVPlease: The report pointed out that "former House Speaker Osama Najafi has a fortune estimated at more than $ 24 billion, and government officials there have huge amounts of money in the form of cash and immovable property such as real estate and stocks and bonds and stakes in companies."
RVPlease: Najafi alone....... has 24 Billion........ unbelievable...
Doug_W: mind boggling
MichelleL: how much did maliki walk away with? 30 bil? 300?
MichelleL: george soros only has 24 bil - somehow you have to believe, when the doodoo hits the fan, all these politicians will wind up losing quite a bit
Doug_W: we can HOPE M
MichelleL: ‹@Doug_W› or propaganda - i'm reading a forbes list of 2015 billionaires, bill gates has 79 and is tops in the world - don't see a single iraqi on this list
MichelleL: maybe they mean 300 bil dinar lol
whitelions: ‹@MichelleL› Hi I don't thinl Maliki released all that he owns so forbrs could list him not #1 on his list lol
MichelleL: ‹@whitelions› lol the waltons still win - even at only 33-40 bil each, they represent 160 bil all together - why wasn't I a child of sam walton?
MichelleL: ‹@whitelions› i'm looking to see how far near the bottom of the list, Trump is - seems oprah has 3bil, thought she was worth more
Dianne777: ‹@MichelleL› wow i thought she was worth more too
MichelleL: Interesting list, not finding "the donald" - www.forbes.com/billionair...
MichelleL: lots of chinese, a couple of kuwaitis, some israelis, several americans and NO iraqis that I can see lol - lots of assorted others though
MichelleL: ok, trump pipes in at 4.1 billion - guess he can afford a billion dollar campaign
Dianne777: ‹@MichelleL› ‹@MichelleL› especially if we would get the rv and he is holding like them gurus said
MichelleL: lol Dianne :) are we getting rich in the next 30 days? if so I'll just hire a body double for the wedding, a thin one ROFLMAO!