Vice Kurdistan: round of negotiations with Abadi begin in the next two days



BAGHDAD / newspaper rectitude -

The MP said the Kurdistan Democratic Party and the Shahe Abdullah, said that the next round of political negotiations between the delegation of Kurdistan and the Prime Minister Haider al-Abadi will take place in the next two days,

revealing that it will include a number of ministries that grew and grew Kurds in the next government.

Abdullah explained in a press statement, that "the Kurdistan delegation will discuss with Prime Minister Haider al-Abadi issue of the participation of Kurdish alliance forces in the government or non-participation,

as well as the names of the ministers discuss the Kurds who will participate in the government, either to retain the ministers who called them Abadi, or change them."

And members of the House of Representatives to grant confidence to the government of Prime Minister Haider al-Abadi on the eighth of September of this,

but the minister did not perform the four Kurds oath in the House of Representatives, and still visited and administered by the Prime Minister Bolokulh.anthy 7

http://alestiqama.com/?p=120381

Iraq loses appeal in federal court to sue American companies


[20:57] 14 / Sep / 18



Erbil, September 18 / September (PNA) -

A federal appeals court has rejected an American today, Thursday, Iraq’s attempt to prosecute dozens of companies accused of conspiring with Saddam Hussein’s regime to sabotage the oil for food program, which was decided by the United Nations to provide goods for Iraqis during the years of international sanctions.

The verdict before the court and the consent of the New York-based judges rejected the third.

The court said that the verdict of the reasons that the Iraqi government can not obtain compensation under American law to combat extortion because they are still responsible for the efforts of the regime of Saddam Hussein to circumvent the United Nations Programme on with it renounced those efforts and denied the legitimacy of the regime.

The appeals court said in a unanimous vote that Iraq can not also institute proceedings under federal law for foreign corrupt practices, saying that the clause in the anti-bribery law does not allow individual litigation.

The papers included a case which was held in 2008 the names of 80 companies, including American companies, British and French.

The value of the oil for food program of $ 64.2 billion and continued between 1996 and 2003.Iraq has said that circumvent the program by the Saddam regime and the companies missed ten billion dollars on the Iraqi people.

http://www.peyamner.com/Arabic/PNAnews.aspx?ID=346467


Postpone the choice of the ministers of defense and interior Iraqis indefinitely


[11:11] 14 / Sep / 19


Erbil, September 19 / September (PNA) – at a time in which he announced Iraqi Prime Minister Haider al-Abadi his lack of any new date for ending the crisis, security bags after parliament rejected last Tuesday,

giving confidence to the candidates for the posts of defense (Jaber al-Jabri – an alliance of Sunni forces) and internal (Riad Ghraib – Shiite National Alliance), the Parliament Speaker Salim al-Jubouri, he decided to leave the other ordered the two ministries until the agreement of the political blocs on them.

Jubouri this decision came during a session of Parliament, yesterday, during which the agenda of the special paragraph asking the names of the ministers of security, at a time when al-Jubouri said in a press conference yesterday that he would end what he called the «state agency».

It was al-Jubouri, gave during a session last Tuesday Prime Minister Abadi until yesterday to choose the ministers of security, but Abadi announced before the Parliament that he would not commit to any pledge anymore, while expressed his unwillingness to assume my responsibility in the defense and interior.

The Iraqi Vice President Iyad Allawi to nominate ministers of security is a delicate and requires careful consideration. Allawi said via his page on the site «Facebook» that «naming ministers of the security ministries is accurate,

and this calls for prudence in the selection of the characters, as the lack of clarity of policy in the previous stage was the obstacle in front of the security institution, and not knowing the background of Ministers nominated by it may be why not give them the confidence ».

While she returned differences within the alliance forces Iraqi Sunnis over the candidate for the defense portfolio after the failure Jaber al-Jabri in a vote of confidence in parliament, the differences within the National Alliance bloc

Shiite began widening a way that threatens the unity of the alliance which is witnessing today setback, his second after what he suffered through the exclusion of Nuri al-Maliki of the third-term prime minister.

According to the announcement by the leader of the bloc united internalized in alliance Iraqi forces, Mohammed al-Khalidi, in a statement to the newspaper «Middle East», the «put the name of al-Jabri in parliament for a vote of confidence was not the subject of consensus among everyone, and therefore did not get the required percentage, which means reconsideration of New »,

stressing that« coalition forces will re-nomination of Khalid al-Obeidi as defense minister and perhaps other names, noting that al-Obeidi was the subject of consensus until the last session, in addition to that, a former military nor reproach him ».

But a member of the Iraqi parliament from the same coalition Raad Aldhlki was reminded that «Jabri will remain is the candidate, because the reason for not obtaining the necessary votes is not due to dissatisfaction with Parliament with him, or because of a problem related to Bmelvh,

but because his name is linked to a candidate of the Ministry of the Interior by the National Alliance , and since the problem within the National Alliance originally illusion majority in parliament (170 deputies), they did not vote for the two names together awaiting the resolution of their candidate ».

At the level of the National Alliance, and according to confirmed by a member of the Iraqi parliament for the Liberal bloc of the Sadrist movement Prince Kanani, the «disputes within the National Alliance on a candidate for the inner bag began to widen, especially after it was put up Riad Ghraib,

which is one of the (state law) and backed Mr. Abadi himself despite the fact that his name was put forward as an independent person ». Kanani said that «the concept of independence here, minus completely, because we know the characters candidate within the National Alliance, including where they see an independent,

but in fact her close to some of the blocks, some even arrived at the Parliament with the support of the masses and the people in those blocks and ballots, which loses The concept of independence »,

indicating that« National Alliance is governed by two issues either go to points for each block of the block or go to the selection of an independent person ».He explained Kanani that «in case the nomination in accordance with the points of the blocs of the Liberals (a subsidiary of the Sadrist movement) and the Badr Organization are entitled to nominate character of them,

and in case Go to independence, the names circulating are not independent, which is threatening the unity of the National Alliance in the case skip the elections for (Badr) or (Liberal) ».

http://www.peyamner.com/Arabic/PNAnews.aspx?ID=346483#

Dr. Ahmed Ali Abrihi *: the exchange rate and inflation in the years of siege

- published in 09/12/2014


To download the file search PDF format Click here


Receive experience siege spotlights the importance of foreign currency in the economic life of Iraq and go out the analysis below to the exchange rate in those years and published in the official documents, the lowest of the exchange rate in the parallel market, at the time.

And the difficulty of accurate data on Iraq’s foreign trade broken down by countries This analysis is based bilateral real exchange rate between Iraq and the United States.

And as long as the exchange rate is known units of the Iraqi currency against the dollar also enters the general index of
prices in Iraq than in the United States to calculate this indicator.

It uses the bilateral real exchange rate, here, to measure the extent to stay away from purchasing power parity, which would check the real exchange rate remains constant.

This index is the exchange rate of the dinar against the dollar any inverse reading accepted for exchange rate and
the purchasing power of fixed units and is calculated by the following equation:


/ CPI USA ) Re = (1 / E) (CPI Iraq
Re where the real exchange rate of the dinar against the dollar, E the nominal exchange rate to the dollar in Iraqi dinars, CPI Iraq price index in Iraq, CPI USA price index in the United States.

And that after the unification of the base year for the price indices in the two countries, and the real exchange rate of the base year prices.

And the usual display on the real exchange rate at a record level of any real exchange rate relative to the base year: x100% (Re t / Re 0 ) symbolizes the margins where t and 0 for the years and comparative basis, respectively.

And the table below provides the real exchange rate of the Iraqi dinar based on three years: 1988.1991,, 2007. . And as long as the real exchange rate expresses the international competitiveness of Iraq,

the increase according to the deterioration of the ability of competitive, ie, whenever exceeded the real exchange rate of the Iraqi dinar level of purchasing power parity became a national production of goods and services tradable International is unable to compete with goods and services in foreign home and facing increasing difficulties in breaking into foreign markets.

At the same time, the higher the real exchange rate of the Iraqi dinar has become the imports of goods and services relatively cheaper.

That any rise in the real exchange rate weakens the productive investment activity in the home and thus the ability of the economy to create new jobs and these symptoms of Dutch disease.

But, also, the consumer benefit from lower prices for goods and services imported and this is a tangible benefit immediately and directly and comprehensively to all individuals, while the fruits of investment activity affects the national economy and the total community and as a college and most of those fruits deferred.

And therefore complicit individuals in their individual capacities and decision makers who seek to satisfy them to devote Dutch disease at the expense of the future of Iraq and Iraq generations and generations to come.

At the time of the siege dinar dollar rose rapidly and accelerator, but on the other hand was inflation reduces the purchasing power of the dinar exchange rate of the dollar, and collected expressed the real exchange rate of the Iraqi dinar.

And calculations show that we had dropped it when adopting the 1988 figures as a basis for the standard. And reached by a lower real exchange rate of the Iraqi dinar, which in 1994 amounted to 39.7 percent of the level in 1988 and 62.18 percent from the level in 1991 and 8.92 percent from the 2007 level.

Any that exchange between Iraq and the world in those years was much undervalues ​​Iraq, and at the same time increased the ability of Iraq’s international price competitiveness.

Iraq and did not benefit from this opportunity to establish the elements of national capacity in the independent technology and manufacturing.

But there have been signs on the accumulation of skills in the management and organization of building and pays tribute to a great and high requirements and in other areas on a limited scale.

And calculates the exchange rate in the parallel market, as it is, will the real exchange rate of the Iraqi dinar even lower, and what is being said or inferred about the impact of the exchange rate in the rest of the variables have the most with the parallel exchange rate.

The decline in the real exchange rate days blockade represents an opportunity to compensate for the imports and exports of openness toward the atmosphere may Diatha siege itself and the extreme scarcity of foreign currency.

Because of the severe scarcity of foreign currency has drawbacks, such as the development of abundance excess.

Although the actual direct implementation of the oil for food program began in 1997, the optimistic expectations on the impact of the agreement between Iraq and the United Nations, in 1996 led to a reduction of the nominal exchange rate of foreign currency in that year a lot.

And provided a glaring example of this decline on the role of expectations changing exchange rates of about 3000 dinars to the dollar to about 400 dinars to the dollar.

Another issue and have profound implications in the understanding of the experience of the Iraqi economy and enrich the knowledge of the economic, but the movement is instant and commodity prices all behind the exchange rate.

And Iraq has begun to gradually regain normal characteristics of the oil economy. And until 2003, Iraq did not retrieve the real exchange rate for the year 1988 and calculated on the basis of 2 dinars to the dollar, which is higher than the official exchange rate much.

And noted that a lot of inflation reduce the real value of the dollar dinar, has become the nominal exchange rate of the Iraqi dinar in 1994, about 4.4 percent of what it was in 1988, but the real exchange rate, as above, 39.7 percent.

In the experiment after the blockade is necessary to pay attention to the impact of inflation in raising the real exchange rate of the Iraqi dinar, and while the impact of inflation, from this angle,

a positive time of the siege, the exaggeration in the exchange value of international real Iraqi dinar became negative in recent years due to inflation.

I’ve moved the nominal exchange rate of the dollar against the dinar faster than the rate of inflation between 1988 and until 1995, and since 1996 accelerated the rate of inflation and did not exceed the rate of exchange until 1998 that reached him in 1995 because of the trauma positive for the Convention on the oil-for-food, and remained between 1999 and 2003 a close between 1930 and 1963 dinars to the dollar and fell later, as we shall see.

Experience has shown the blockade compared to what then thread inflation and the exchange rate when the economy works under the under the balance of payments and the economy to be free from this constraint ever-correlation between inflation and the exchange rate.

Therefore it seems that the exchange rate is the one who led inflation likely, the beginning of the siege, as stating the equation below, which linked the annual change in the index of consumer prices delcp with the annual change in the exchange rate (dinars to the dollar) delex and change the backward exchange rate delex-1 and time t.

And if it can not prove the co-integration of the small sample, there remains any doubt as it may be a real regression. But tests in favor of safety. Private and that differences in order to avoid the problem of root mono and autocorrelation :

delcp t = – 0.345 + 0.929 delex t -1 + 0.0435 + 0.209 delex did

R-Sq = 98.8%; R-Sq (adj) = 98.3%; Durbin-Watson statistic = 2.03764

And we include t tests for fixed and regression coefficients, respectively, from left to right 2.56-, 16.53, 3.83, and 3.27, which indicates that the estimates and moral significance levels: 0.04, 0.00, 0.01, 0.01, respectively, confirming its safety.

The evolution of the exchange rate of the Iraqi dinar between 1988 and the end of the siege

























































































































Variables
Year
Price
Spending
Dollar
Dinars
1
No.
The standard
Prices
Consumer
In
Iraq
2
No.
The standard
Prices
Consumer
In
States
United
American
3
Relative prices
A ratio of 2
3
Percent
4
Exchange rate
Real
Dinar
5
No.
The standard
Exchange rate
Real dinars
The base year
1988
6
No.
The standard
Price
Exchange
Real
Dinar
Year
Basis
2007
7
1988 2 21.6 68.9 31.35 156.8 100.0 22.5
1991 10 100.0 100.0 1.00 100.0 63.8 14.4
1992 21 183.3 103.0 1.78 84.7 54.1 12.2
1993 74 555.6 106.1 5.24 70.8 45.1 10.2
1994 458 3100.0 108.9 28.48 62.2 39.7 8.9
1995 1674 14594.4 111.9 130.41 77.9 49.7 11.2
1996 1170 12455.6 115.2 108.13 92.4 59.0 13.3
1997 1471 15327.8 117.9 130.02 88.4 56.4 12.7
1998 1620 17594.4 119.7 146.97 90.7 57.9 13.0
1999 1972 19805.6 122.3 161.89 82.1 52.4 11.8
2000 1930 20794.4 126.5 164.44 85.2 54.4 12.2
2001 1929 24194.4 130.0 186.09 96.5 61.5 13.8
2002 1957 28872.2 132.1 218.58 111.7 71.3 16.0
2003 1963 38577.8 135.1 285.49 145.4 92.8 20.9

Source: Based on data prepared by the Central Bureau of Statistics and Information Technologies and the American Federal Reserve and N. Central Bank of Iraq .

I’ve traded interested in the cash economy, the time of the siege that excessive monetary expansion and inflation bug was the deterioration of the exchange rate of the Iraqi dinar, but the indicators below indicate lower cash balances true in that period.

They have become less in 2002 than it was in 1991, less than half, and in 1995, about five in the sense that the increase in the money supply was less than the rate of inflation, a large margin.

And it is not uncommon lower cash balances real with constant volume of real income or increase it and "not uncommon this" and that I found in the statements of other countries, of the arguments advanced by Romer to indicate that the money bug inflation in the long term (Romer, p 515).

And if we assume that estimates of real GDP and final audited, it means a significant increase in the speed of rotation of the money as shown in the table below.

However, the jump in the speed of rotation of money that appeared in the year 2000 relate to, perhaps, running for renewed crude oil exports, which lifted GDP at current prices.

And likely explanation for the movement of monetary variables in the time of the siege, which deserves further lesson: that the exchange rate led inflation, and the response of the general budget of glacial and partial, and this was not the money supply abreast of inflation, but behind him, because government spending that was financed with loans from the the central bank is specified for the money supply.

Interestingly, government spending remained determinant of money supply: at the time of the siege across paragraph net domestic credit in the monetary base, and after the siege net foreign assets of the central bank and that Pena how to accumulate due to government spending financed by the oil supplier.

And the fact that oil supplier and the use of it remained outside the budget because of the financing system of oil for food program and the circumstances of the siege Otherwise, it may have affected those exceptional situations on the data itself, apparently.

The resulting time and money siege















































































Year GDP
Total
At current prices
Billion dinars
Money sense
The narrow M1
Billion dinars
Speed ​​Velocity Record
GDP
Real
Record
For real cash balances
1991 21.31 24.67 0.86 100.000 100.000
1992 56.81 43.91 1.29 125.666 97.085
1993 140.52 86.43 1.63 186.816 63.062
1994 703.82 238.90 2.96 178.121 31.238
1995 2252.26 705.06 3.19 145.582 19.583
1996 2556.31 960.50 2.66 217.812 31.258
1997 3286.93 1038.10 3.17 265.498 27.453
1998 4653.52 1351.88 3.44 261.431 31.145
1999 6607.66 1483.84 4.45 302.384 30.369
2000 50213.7 1728.01 29.06 594.109 33.684
2001 41314.57 2159.09 19.14 607.854 36.173
2002 41022.93 3013.60 13.61 565.778 42.309


Source: website of the Central Bureau of Statistics and Information
Technology, and the website of the Central Bank of Iraq.

The above table shows the following diagram and how that cash balances remained without a real increase but decreased from what it was in 1991 and this guide,

on government spending and the money supply Thrkia slowly behind the sharp deterioration in the exchange rate of the Iraqi dinar and who was the leader of prices by regression analysis and experience of those years from pension and accident collapse in prices expectations in 1996 and named after the popular vocabulary "medicines" open signifier and stillness waw and that means the collapse of the detonator.

Real output and cash balances in real time of the siege in Iraq
The years 1991the 2,002th

http://iraqieconomists.net/ar/2014/0…-%d8%a7%d9%84/

A diplomatic source: Al-Maliki accused in six cases of French courts

  • Agency eighth day
  • September 19, 2014, 14:11

BAGHDAD – ((eighth day))
Diplomatic source at the Iraqi Embassy in France, the presence of six charges against the Vice President Nouri al-Maliki in the French courts.

The source said in his speech () that "some refugee families to France has filed six lawsuits in French courts against Nuri al-Maliki, adding that these charges, including the seizure of some real estate by his relatives and Aaútlh to favor private.

He added, that the most important reason for these charges as the largest in the displacement and the displacement of minorities because the Commander in Chief of the Armed Forces.

The French President Hollande Maliki refused to attend the lunch with Prime Aljkhoria Fuad Masum, two weeks ago because of the presence of those charges.

http://8th-day.com/?p=72420

Three presidencies agree to unite her to overcome the obstacles


2014/9/19 06:52:27 AM

BAGHDAD / Wi-News
Iraqi leaders agreed on the need for the three Tkacvha and unifying rhetoric and efforts to overcome the obstacles that hinder the progress of the political wheel and coordination between the legislative and executive authorities in order to pass important laws.


According to a statement issued by the Presidency of the Republic of Iraq, he was "at the invitation of President of the Republic Fuad Masum, held at the Peace Palace in Baghdad on Thursday evening, 9/18/2014 first meeting after the formation of the government includes three presidencies,

where he met with President of the Republic deputies and the prime minister and his deputies, the parliament speaker and his two deputies, within regular meetings for the three presidencies. "


The statement noted that "During the meeting discussed the overall political and security situation and economic on the Iraqi arena and to discuss ways of activating the real cooperation between the three presidencies and unify efforts in order to serve the people and provide the requirements of a decent living for them."


The meeting agreed on "the need to unite the three presidencies and unifying rhetoric and efforts to overcome the obstacles that hinder the progress of the wheel and political coordination between the legislative and executive authorities in order to pass important laws pending that aim to improve the economic situation in the country

and insurance requirements promote unity and national cohesion and the success of the Government of Unity and National Partnership and including confirms High sense of responsibility towards the security situation, especially in areas that are still under the control of terrorist gangs Daash. "


With regard to international support to confront Daash has welcomed the meeting of this support and attribution that does not affect the sovereignty of Iraq and its unity and in agreement with the Iraqi government nor connects Iraq’s political blocs, regional or international, according to the statement.

http://ynewsiq.com/index.php?aa=news&id22=9301&iraq=الرئاسات الثلاث تتفق على توحيد خطابها لتذليل العقبات#.VBwilel0yUk

Abadi in Sulaimaniya to meet with Talabani


2014/9/19 01:13:15 PM

Sulaymaniyah / Wi-News
Iraqi Prime Minister Haider al-Abadi, on Friday, to the city of Sulaymaniyah, to visit former President Jalal Talabani.


A member of the Steering Committee for the Patriotic Union of Kurdistan (PUK) Mustafa Georh Shaka in a statement, "The Prime Minister Haider al-Abadi today visited the city of Sulaimaniya, who is now visiting President Mam Jalal".


He stressed that "Abadi will meet later with the political bureau of the Patriotic Union of Kurdistan."

http://ynewsiq.com/index.php?aa=news&id22=9309&iraq=العبادي في السليمانية للقاء طالباني#.VBwhkel0yUk

Jester’s Place: 

[Jester] HI YA GUYS… SORRY SO LATE… WAS CONSULTING WITH A GUY ABOUT SOME REAL ESTATE INFO… TOOK A WHILE…

[Jester] I AM WATCHING A 4 PART SERIES BY JERRY ROBINSON THAT IS PRETTY WELL DONE ON THE RISE AND FALL OF THE PETRODOLLAR….

LET ME DROP THE SYNOPSIS REAL QUICK AND THEN YOU GUYS CAN DECIDE IF YOU LIKE TO INVESTIGATE THE HISTORY LESSON AND SEE IF YOU AGREE WITH HIS FUTURE PREDICTIONS IF YOU LIKE TO….

[Jester] A Brief Overview
of this Article Series on the Petrodollar System

[Jester] In the final days of World War II, 44 leaders from all of the Allied nations met in Bretton Woods, New Hampshire in an effort to create a new global economic order. With much of the global economy decimated by the war, the United States emerged as the world’s new economic leader.
….

The relatively young and economically nimble U.S. served as a refreshing replacement to the globe’s former hegemon: a debt-ridden and war-torn Great Britain.

[Jester] In addition to introducing a number of global financial agencies, the historic meeting also created an international gold-backed monetary standard which relied heavily upon the U.S. Dollar.

[Jester] Initially, this dollar system worked well. However, by the 1960′s, the weight of the system upon the United States became unbearable.

On August 15, 1971, President Richard M. Nixon shocked the global economy when he officially ended the international convertibility from U.S. dollars into gold, thereby bringing an official end to the Bretton Woods arrangement.

[Jester] Two years later, in an effort to maintain global demand for U.S. dollars, another system was created called the petrodollar system. In 1973, a deal was struck between Saudi Arabia and the United States in which every barrel of oil purchased from the Saudis would be denominated in U.S. dollars.

Under this new arrangement, any country that sought to purchase oil from Saudi Arabia would be required to first exchange their own national currency for U.S. dollars. In exchange for Saudi Arabia’s willingness to denominate their oil sales exclusively in U.S. dollars, the United States offered weapons and protection of their oil fields from neighboring nations, including Israel.

[Jester] By 1975, all of the OPEC nations had agreed to price their own oil supplies exclusively in U.S. dollars in exchange for weapons and military protection.

[Jester] This petrodollar system, or more simply known as an “oil for dollars” system, created an immediate artificial demand for U.S. dollars around the globe. And of course, as global oil demand increased, so did the demand for U.S. dollars.

[Jester] This petrodollar system, or more simply known as an “oil for dollars” system, created an immediate artificial demand for U.S. dollars around the globe. And of course, as global oil demand increased, so did the demand for U.S. dollars.

[Jester] As the U.S. dollar continued to lose purchasing power, several oil-producing countries began to question the wisdom of accepting increasingly worthless paper currency for their oil supplies. Today, several countries have attempted to move away, or already have moved away, from the petrodollar system.

 Examples include Iran, Syria, Venezuela, and North Korea… or the “axis of evil,” if you prefer. (What is happening in our world today makes a whole lot of sense if you simply read between the lines and ignore the “official” reasons that are given in the mainstream media.) Additionally, other nations are choosing to use their own currencies for oil like China, Russia, India, among others.

[Jester] As more countries continue to move away from the petrodollar system which uses the U.S. dollar as payment for oil, we expect massive inflationary pressures to strike the U.S. economy. In this article, we will explain how this could be possible.

[Jester] THAT IS THE CLIFF NOTES… BUT THAT IS PRETTY MUCH IT IN A NUTSHELL FOR PEOPLE THAT HAVE NO IDEA WHAT A PETRODOLLAR IS…

[Jester] THE FULL ARTICLE IS RATHER LENGTHY AND TECHNICAL BUT I FOUND IT WELL WORTH THE READ..
.
[Jester] HERE IS PART 1 OF 4… WHEN YOU GET TO THE BOTTOM THERE IS A LINK FOR PART 2 AND SO ON…    http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/

[Jester] SO WHEN WE ARE IN HERE TALKING ABOUT HOW CHINA AND RUSSIA ARE DOING THIS AND THAT WITH CURRENCY YOU SHOULD NOW BE ABLE TO SEE THE ROUGH SPOT WE ARE IN…

[wisewarrior] yup

[lulu] Jester so to push all this to the back burner us and company would rather have war?

[MotoXR] jester that explains the hostility between the US vs Iran and Syria ect…

[Hannah] Jester Thank you. I learned today’s tidbit. I didn’t know that we exchanged weapons and protection for the exclusivity.

[Jester] lulu WELL… THAT IS A DISTRACTION THAT KEEPS THINGS MOVING ON THE ORIGINAL WAR MONGERING GAME PLAN…

[Jester] WE HAVE A LOT OF GOOD PEOPLE OUT THERE TRYING TO GET THE EYES OPEN… THE PROBLEM IS THEY ARE COMPARTMENTALIZED AND NOT ORGANIZED TOGETHER TO POOL THEIR EFFORT AND REALLY GET THE WORD OUT… THAT IS THE PROBLEM RIGHT NOW…

[Jester] AND MOST OF THEM ARE DOING IT FOR THE MONEY… SO THERE YA GO…

[Jester] YOU GUYS TAKE IT EASY… I WILL TRY TO GET HERE EARLIER TOMORROW…

[Jester] NIGHT NIGHT…

Investing.com –

Investing.com – The U.S. dollar was lower against its Canadian counterpart on Thursday, after the release of mixed U.S. economic reports and as the Federal Reserve crushed expectations for an early rate hike.

USD/CAD hit 1.0957 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0950, sliding 0.47%.

The pair was likely to find support at 1.0923, Wednesday’s low and resistance at 1.1071, the high of September 16.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 13 decreased by 36,000 to 280,000, the lowest level since mid-July, from the previous week’s revised total of 316,000.

Analysts had expected jobless claims to fall by 11,000 to 305,000 last week.

Separately, the U.S. Commerce Department said that the number of building permits issued last month dropped by 5.6% to 998,000 units from July’s total of 1.057 million.

Analysts expected building permits to fall by 0.4% to 1.045 million units in August.

The report also showed that U.S. housing starts tumbled by 14.4% last month to hit 956,000 units from July’s total of 1.117 million units, compared to expectations for an increase to 1.040 million.

The data came a day after the Fed reiterated that it expects rates to remain on hold for a “considerable time”, after its bond purchasing program ends, but it also outlined in more detail how it will start to raise short term interest rates when the time comes.

The Fed cut its monthly asset purchase program by another $10 billion, keeping the program on track to finish next month.

Speaking at the bank’s post-policy meeting press conference Chair Janet Yellen stressed that the timing of any change in interest rates is dependent on the strength of the economic recovery.

In Canada, official data showed that foreign securities purchases rose by C$5.30 billion in July, beating expectations for an increase of C$2.47 billion, after a revised C$1.08 billion decline the previous month.

The loonie was higher against the euro, with EUR/CAD shedding 0.19% to 1.4125.

Later in the day, the U.S. was to produce data on manufacturing activity in the Philadelphia region.

Investing.com
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Investing.com –

Investing.com – The pound rose to a two-year high against the euro on Thursday and hit its highest level against the dollar in two weeks, boosted by hopes that Scotland will vote to remain inside the United Kingdom.

EUR/GBP was last down 0.49% to 0.7864, the lowest level since August 2012.

Sterling strengthened earlier Thursday after the final Ipsos Mori opinion poll of the Scottish referendum campaign showed the no vote slightly ahead with 53%, while support for the yes vote was at 47%.

However due to the large number of undecided voters and the high turnout polls have indicated that the final outcome may be too close to call.

Sterling dropped to 10 month lows against the dollar last week as uncertainty over what currency an independent Scotland would use, as well as concerns over how much of the U.K. national debt it would take on rattled financial markets.

Earlier Thursday, official data showed that U.K. retail sales rose in line with forecasts in last month.

U.K. retail sales rose 0.4% in August and were 3.9% higher on a year-over-year basis, the Office for National Statistics reported.

Sales of household good sales jumped 12.7% from a year earlier, bolstered by sales of high powered vacuum cleaners ahead of a European Union ban on powerful electrical appliances.

GBP/USD advanced 0.69% to 1.6383, the highest since September 4.

In the U.S., data on Thursday showed that the number of people filing first time claims for unemployment benefits fell by a larger-than-expected 36,000 to 280,000 last week, the lowest since July.

A separate report showed that U.S. housing starts and building permits fell August, but upward revisions to the previous month’s readings indicated that the recovery in the housing sector is continuing.

Another report showed that manufacturing activity in the Philadelphia region ticked lower this month.

The dollar remained broadly stronger after the Federal Reserve offered fresh guidance on its plans to raise interest rates at the conclusion of its two day monetary policy meeting on Wednesday.

The Fed statement reiterated that it expects rates to remain on hold for a “considerable time”, after its bond purchasing program ends, but it outlined in more detail how it will start to raise short term interest rates when the time comes.

The Fed cut its monthly asset purchase program by another $10 billion, keeping the program on track to finish next month.

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