Backdoc  » July 7th, 2015, 9:38 pm  HOLY DEBT RELIEF BACKMAN!!


2 July 2015 (MMD Newswire) — One World Media Reports – In a major meeting held in the Hong Kong offices of the International Court of Justice (ICJ) today, The Commissary Supreme Commander and the Sovereign Imperial Royal Family Head of the International Court of Justice (ICJ) and Sovereign Judge Sir Lord Windsor HRH Ricky Nathaniel, Holder of the ICJ Mainframes Co-Optics Judge and Judicial Bar Authority Number 445-AM01-15432 made his views and opinions known public to HRH David II a.k.a. Sir Judge Joseph David Jeremiah and to Sir Judge Jed Elia Schutz as the Directors and Trustees

of US Capital Private Bank ETO, (USCAP) the world’s largest Private Banking Institutional Trust of his official support of a plan for Global Economic Recovery.

The ICJ and USCAP are developing a comprehensive strategy to assist Greece with a One Trillion Euro grant which will not only pay off its crushing debt, but serve to reinvigorate its stagnant economy by restructuring with the AID of the Global Economic Recovery Council.

This economic plan supports every aspect from infrastructure development to micro-loans promoting sustainability.

In exchange for the Non-Recourse Grant, the ICJ and USCAP will likely move to require lower taxes for the commercial sector, inviting new business to create jobs for the citizens while lowering the income taxes for its citizens, providing more cash flow for the retail sector.

We intend to provide this grant by providing Gold Backed Collateral for The Central Bank, making available resources for the regulated issuance of new Gold Backed “ICJ” Stamped Euros valued at a higher rate (a prelude to the Global Economic Reset) which will provide for debt free liquidity. Through fractionalization of deposits into the system, the country will be able to refinance existing debt at almost zero percent, thus eliminating debt through sustainable valuation and currency controls.

US Capital Private Bank and The ICJ will provide sustainable growth through sound financial policy eliminating politics from the mix.

HRH David II a.k.a. Sir Judge David Jeremiah and Sir Judge Jed Elia Schutz, are now also on the Sovereign Board of the ICJ as its respectable Special Judges and esteemed Trustees for the Sovereign Royal Imperial Capitol Hill Senatorial Committee of 300 Elders. Together they have agreed to help resolve the ongoing Eurozone crisis and the trade imbalance defaults which have lead the Government of Greece and its citizens into the quagmire of continued fiscal debt and untold misery that has been spiraling out of control for almost a decade.”

Sir Judge Joseph David Jeremiah, founder and Principal Trustee of US CAPITAL PRIVATE BANK / U.S. CAPITAL II INVESTMENTS (HK), commented “We can no longer idly sit and watch as the people of this once great nation suffer. It’s spreading all over the world and, unchecked, it can cause a global financial meltdown. The only solution is a replacement of fiat currency by backing the country’s currency with Gold. While we fully intend to complete this important grant and assist Greece and its wonderful people in the rebuilding of its proud nation, this must be done with the guidance of the International Court of Justice so that these new funds are used and administered wisely for the benefit of all the people and for the greater good. It is humbling to be a part of such an important process.”

“It is a great honor having been named both a Trustee of USCAP and a Judge of the ICJ,” added Sir Judge Jed Elia Schutz. He continued “Working on these most urgent global solutions is as gratifying as it is challenging. We are also aggregating and integrating best of breed green technologies through the Bank’s greentech platform company (CAS) Cino American Synergies with project funding from US Capital Private Bank. Along with Precise Ventures, we seek to bring the cutting edge of green innovation while providing economic stimulus for developing and rebuilding nations.”

In addition to the offer for Greece, USCAP and the ICJ are creating similar offers for other countries in similar debt crises. US Capital Private Bank provides Project funding resources worldwide for economic, social and humanitarian endeavors.


For More Information, email:

Rooms 05-15, 13A/South Tower, World Finance Centre, Harbour City, 17 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong


Humminbird:   » July 7th, 2015, 8:47 pm 

THIS WILL KNOCK YOUR SOCKS OFF!!! start about 7:28 I think—really good — 10 min he talks about the RV

can’t get the youtube to post here is the whole link

Walkingstick  » July 7th, 2015, 9:54 pm  BFBR………….

(News Today) unique to publish the terms “political agreement” and accomplished by the Government of Abadi

Publishing Date: Tue, 07 Jul two thousand and fifteen

BAGHDAD / News Today

On the impact of the accusations directed by the government to resort Abadi partners of obstructing the implementation of the terms of the political agreement, close to Prime Minister source revealed for the first time the items for “paper” under which the current government was formed in August 2014 after the ouster of the blocks on the agreement Nouri al-Maliki, leader of a coalition of state law.

And the face of the Union forces, a major Sunni blocs ripped recently Ebadi, stressing that he has not implemented the terms of the political agreement, and it merely passes the “immature laws” and ditched in the court of Parliament.

The attention of the Union forces to the obstacles facing the National Guard and amnesty laws, accountability and justice, as well as the file “balance” as evidence of lax Abadi in the implementation of political commitments.

In turn, the Kurdish blocs, especially Kurdistan Democratic Party led by Massoud Barzani, carrying the prime minister harshly loaded him of the responsibility of non-fulfillment of the oil agreement, and not to launch financial allocations for the province.

And it stresses the circles close to Prime Minister Haider al-Abadi said the latest dish of more than 50% of the terms of the political agreement, stressing that the responsibility lies with the House of Representatives to speed up the pace of legislation agreed.

And got (News Today) the text of the “national paper”, under which the government was formed Abadi, and are being announced to its readers for the first time.

The document contains 29 items distributed over 4 stages, time limits have been identified for the three of them, and the last was left with no time limit attached to the complex arrangements such as liberalizing the land of Daash and the fight against corruption and others. The following is the text of the document (political agreement):

First: the time limit December 10, 2014

1 / approve the rules of procedure of the Council of Ministers; completed.

2 / resolve the dispute with the Kurdistan Regional Government on the export of oil; completed.

3 / file peshmerga, was completed.

4 / legislation freedom of expression law; completed in the Council of Ministers and read the first reading in Parliament.

5 / Project of the National Guard Law; completed in the cabinet and read a second reading in Parliament.

Second, the time limit March 10, 2015

6 / approve the work of the national balance mechanism; completed in the Council of Ministers.

7 / completion of project accountability, justice and the prohibition of the dissolved Baath Party Law; completed in the Council of Ministers and read the first reading in Parliament.

8 / draft anti-terrorism law assigned to the House of Representatives since 2012; read the first reading in Parliament.

9 / processing resolutions (76 and 88) issued from the Coalition Provisional Authority and the Governing Council; completed in the Council of Ministers and read the first reading in Parliament.

10 / Project Authority Law to ensure balance in accordance with Article 105 of the Constitution, including the Second Amendment to the law of the Federal service project; completed in the cabinet and read a second reading in Parliament.

11 / Project of the Federal High Court Act; completed in the Council of Ministers which is under voting in the Parliament.

12 / legislation Federation Council Act shops of prime minister to the Cabinet in 09/14/2014; read the first reading in Parliament.

13 / Project allocation of imports to the sender of the Federal House of Representatives since 14/09/2011 law, read the first reading in Parliament.

14 / rationing work of the security services; in progress.

15 / Project Intelligence Service Act; completed in the Council of Ministers and read the first reading in Parliament.

16 / resolve the cases of detainees; completed the issuance of customs clearance 57 for the year 2014.

17 / draft general amnesty law; completed in the Cabinet and sent to Parliament.

18 / Code of Judicial Power; completed and the remainder of the Supreme Judicial Council Act.

19 / Edit provincial law amended including the devolution of powers law; under way at the competent Committee.

20 / legislation oil and gas law and other related laws; in progress.

21 / resolve the dispute over the ownership of the properties of Awqaf (Committee jaw and insulation); in progress to the competent Committee.

22 / amend the rules of procedure of the House of Representatives; the jurisdiction of the House of Representatives.

23 / complete the formation of the Human Rights Commission and the election of the deputy head of her; the jurisdiction of the House of Representatives.

24 / completion of the constitutional revisions of materials; from the jurisdiction of the House of Representatives.

Third, the time limit September 10, 2015

25 / find appropriate solutions to the problem of Kirkuk.

Fourth, did not specify a time ceiling.

26 / resolve the dispute over the link independent bodies; the Committee completed its work and prepared a common vision.

27 / work to develop mechanisms to set up a reconstruction fund land destroyed by terrorists and affected by the military actions after editing; completed.

28 / fight against corruption and the fight against corrupt through the National Anti-Corruption Strategy for the years 2015-2019; work is continuing within planned.

29 / edit all Iraqi territory and limiting arms possession State; work is continuing within planned.

Dinar Updates:

Q:[things have sure never been this exciting…] 

BGG  I would agree – can’t say it means an immediate RV – but it is sure getting exciting…

tman23   As I had been saying… And now in ink, the Kurds are threatening the payments in USD… They would abandon the IQD altogether!  A MAJOR THREAT for the CBI… Just another confirmation that we are in an excellent position to see change…

firefly    IMO the HCL has been passed a long time ago. We are just waiting on Implementation.  I am only watching the CBI and Abadi …period. 

Maliki IMO is irrelevant.  There will always be corruption, not just in Iraq but globally. 

 They need to get this done ASAP…End of story.



  Sometimes in life, no matter how hard you try to impose good will and high vibrations to all those around you, there will always be those that will disagree and challenge with your efforts. Don’t let this alter your mission to better the world for all beings around you. Yes, you can’t please everybody all the time so… just remember Mr. Spock’s classic axiom, “The needs of the many outweighs the needs of the few”… Live Long and Prosper my Friends… Revel in the Blessing about to be Received!


We intend to provide this grant by providing Gold Backed Collateral for The Central Bank, making available resources for the regulated issuance of new Gold Backed “ICJ” Stamped Euros valued at a higher rate (a prelude to the Global Economic Reset) which will provide for debt free liquidity.

 Through fractionalization of deposits into the system, the country will be able to refinance existing debt at almost zero percent, thus eliminating debt through sustainable valuation and currency controls 

daz] …… higher rate (a prelude to the Global Economic Reset)

follow the link read the entire article

“We can no longer idly sit and watch as the people of this once great nation suffer. It’s spreading all over the world and, unchecked, it can cause a global financial meltdown. The only solution is a replacement of fiat currency by backing the country’s currency with Gold.


Jester’s Place: 7-6-15


[hoot2602] Jester They sure are making lots of noise on Greece situation…


[hoot2602] Jester Its not working anymore…after several days, its old news

[hoot2602] Jester In fact, I’m bored with the whole RV thing…if it weren’t for you bringing in some news now and then, I’d probably just ignore the entire thing.

[hoot2602] Jester I can imagine how you feel about it…


[Truth] Jester the whole global situation is interesting to watch as we look away from our personal interests such as what we desire to get out of it. Looks like at some point many folks will benefiting an that is a good thing.

[hoot2602] Jester In some cases it might be called regression


[hoot2602] Jester I’m sure that when you have something worth reporting on a time frame you will tell us

[PollyP] just watching the rest of the globe, except Canada and Japan, doing the work around the US.

[PollyP] Jester, today I read on Sputnik that Christine LaGarde won’t be in position very long for mishandling the Greece debt crisis. Your feelings on that?




[BocaLinda] jester really?

[Hannah] Jester I think I expected the IMF to go away



UU6714 – “ Quick Mid Week Update  “  by Mnt Goat  Part 2 of 2

[Update on the 50K note rollout]

This next article is very, so very important. It is so important because it is dealing with the new 50,000 note (or coin) they are planning to roll out. It is important too because they can not roll out this new coin unless they also significantly increase the value of their currency. They know this too.

The Iraqi economists have presented many cases in favor and against this action of the new coin. We have article after article as this debate took place. Do you remember? 

I presented and talked about many of them in my recent past news letters. Those against this new coin state that they MUST coordinate carefully to increase the value of the dinar significantly to ward off hyper-inflation. This inflation could occur rapidly if these new notes were to add the already inflated value of the existing dinar (three zero notes now in circulation).

This article #1 below is also telling us they will first launch the 50,000 coin and then wait to see what happens. Then later launch the 100,000 coin. So we know both coins are in the future agenda and this has not changed.

The last paragraph is very confusing. They are telling us that the new 50,000 coin will not be launched until the end of 2015 however in the first paragraph they just told us they would be launched during the current month (July).

So is this a translation issue from Arabic to English?  I do not want to weave a thread but I believe this is a translation issue and what they really are saying is the 50.000 coin will be issued prior to the end of this year (2015) and thus the 100,000 coin can not go until after this period.

As a result  I believe we will see the 50,000 coin much sooner than later.

There is even information from the CBI to confirm to us that they were supposed to have issued the first batch of the coins last weekend, thus in the early part of July. I am hearing this is still their desire so we may be very close to this event. It is only July 8th.

Isn’t it amazing how such a small, seemingly insignificant article, can be so powerful!

Remember almost nothing in Iraq is done according to their project time tables. They are always a week or more late from what they tell us to the actual physical reality of the event.

This much we should all know and understand by now. This is not a trick to deceive us since they do not give a hoot whether we know or not. In fact they prefer we know the true facts, if knowing anything. These articles are not intended for us as investors but for the average Iraqi citizen.

Article 2 is telling us yet even more about these National cars and what the hold up is specifically in the Kirkuk region. So we can see they are struggling and trying to work around the terrorists as much as possible but the terrorists ISIS are still a thorn in their side.

I quote from article 2 presented below- “ “The completion of transactions displaced stop was the result of hot areas of the province to surround and fear of infiltration and to preserve the security of Kirkuk”.

Article 1 Follows:

Special scales News

A commission of economy and investment representative, Wednesday, for the new currency launch of the 50 class thousand dinars to the Iraqi market during the current month.

He said committee member Najiba Najib’s / scales News / “The central bank will present the new category of coin fifty thousand dinars to the Iraqi market during the current month after the completion of all their actions.”

Najib added that “the other category of 100 000 dinars will go after the launch of the 50 category Alaracqa thousand dinars in the market for a while Alasthoudarat and procedures for that category is complete and make sure of their advantages and disadvantages.”

This “revealed the Central Bank of Iraq, his request to wait for the issuance of class 100 000 dinars, noting that the issuance of 50 thousand dinars category of the local currency will be the end of this year” .anthy / 29 / d 24

Article 1 Ends

Article 2 Follows:


Kirkuk / NINA:

The director of the Directorate of Nationality in Kirkuk, Brigadier General Adnan Ali Hamadi that the security incidents in June 2014 and lower the general budget halted a number of projects such as the unified national card project and the opening of the new building of the Directorate of the ePassport.

He told the National Iraqi News Agency / Nina / The completion of transactions displaced stop was the result of hot areas of the province to surround and fear of infiltration and to preserve the security of Kirkuk. 

He explained that the lack of existing staff in the six circles Directorate as well as small Directorate place are the most important obstacles faced by the Directorate in the performance and completion of transactions of the citizens.

With regard to dealing with the displaced in Kirkuk after the June events of 2014, stated that: “In the beginning cooperated with the displaced to maximum cooperation and then came to us the direction of the governor of Kirkuk and the us Department of Immigration to stop the completion of the displaced transactions because the province is surrounded by hot areas and fear of infiltration and to preserve the security of the city. “

Article 2 Ends

[Other Key Dates]

There are two other important key dates to keep in mind.

This resignation is being driven by the alleged crimes of genocide and corruption and treason. They can’t afford to have someone in such a high government position and being investigated for these crimes.

 So tomorrow is July 8th , the date when Iraqi president Masum has asked Maliki to make a decision as to his resignation. Let’s see how this plays out. Of course my opinion is he will not resign from the VP position and will be forced out.

This resignation will be the easy course of action for us and I and my family will be cheering all the way from Europe. I am sure you will hear us in USA….lol….

The other key date is August 6th. This may seem far off but time seems to creep up on us.

Why is this date significant?

It is significant because the GOI has told us that this is the deadline to completing the decentralization effort down to the provinces. This means the transfer of the ministry powers and the setting up of the National Guard units needed for provincial security. Both need the final passing of some laws. So now we see an outside window for the completion of these laws.

This is all coming together very nicely. If you knew only half of what I know you too would be very happy.

I hope  to be able to tell you soon that there is an RV window. I can truly see one in the near future.

Peace and Luv To Ya All,   Mnt Goat

Currency Auctions
Announcement No. (2990)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 7/7/2015 and the results were as follows:

Number of banks 21
Number of remittance companies 7
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 225,115,111
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 225,115,111
Total offers for selling (US$) —–

Currency rates from the date of (6/4/2015)

Exchange Rates up to(19/2/2015)   LINK

Iraq and Syria have borne the brunt of direct war costs, but Islamic State fighters and supporters have also carried out attacks in Tunisia, Kuwait, Saudi Arabia, Egypt, Libya and Yemen, dampening investor confidence and undermining economic activity in several countries.

In addition, cross-border trade and investment in the region has been stifled, the influx of refugees has strained resources in several countries and military spending in several Gulf Arab states, including Saudi Arabia, Qatar and the United Arab Emirates, has surged at a time when state revenues have been hit by weaker crude oil prices.

Saudi Arabia and the UAE led military expenditures in the Middle East in 2014, according to a report by the International Institute for Strategic Studies issued in April. It said Saudi Arabia, the UAE, Oman and Qatar imported arms worth an estimated USD 109 billion last year, a 44% increase from 2012.

Saudi Arabia, which is also leading Arab airstrikes against Shi’ite Muslim rebels in neighboring Yemen, ranked fourth globally at USD 80 billion in expenditure

Volume of expenditure on military systems by Gulf Arab states (in USD billions)


The rapid spread of Islamic State across Iraq and the large military expenditures to battle the Sunni Muslim militant group have hit the Iraqi economy hard.

The Economist Intelligence Unit (EIU) estimated that the rise of Islamic State led to a 3.2% contraction in Iraq’s non-oil sector in 2014, offsetting 4.4% growth in oil production and resulting in zero growth overall.  EIU forecasts growth of 1.8% in 2015.

Some Iraqi government reports put the country’s direct losses from the battle against Islamic State militants at more than USD 200 billion in just one year.

Dhirgham Muhammad Ali, director of the Economic Media Center in Baghdad, said losses were incurred from attacks on infrastructure, energy facilities and the military. He said the oil sector has lost about USD 18 billion as a result of the decline in exports and damages to installations and facilities such as pipelines, especially in the Baiji refinery, and at oilfields.

A spokesman at the Ministry of Planning, Abdul-Zahra Al-Hindawi, said that while the government had allocated IQD 500 billion (USD 420 million) to repair war damages, the amount was not sufficient. He said Iraq would require around USD 25 billion to reconstruct Saladin, Diyala and Anbar.

“Projects completely stopped in 2015 because of ISIS control, in addition to the destruction of infrastructure, which incurred heavy losses on Iraq,” he said.

Military spending has increased substantially and the cost of supporting around 3 million people who have been displaced is also a major burden to government finances at a time of low oil prices.


A  report published by the World Bank last year said that cost of the Syrian war and spread of the Islamic State alone have been estimated at USD 35 billion in terms of lost output between mid-2011 and mid-2014. It said these conflicts had hurt the standard of living of living in neighboring countries dealing with the influx of refugees, with average-per-capita income in Lebanon declining 11% and in Jordan by 1.5%.

Izzat Abdullah, a professor of economics at Teeba Academy, said attacks by Islamic State fighters and other militant groups were scaring away foreign investment in the region, resulting in low production and high unemployment rates. He said economies directly exposed to militant attacks such as Egypt, Iraq, Syria, Yemen and Tunisia are suffering most.

Tunisia has said it expects to lose at least USD 515 million this year, or about a quarter of its estimated annual tourism earnings, after the attack by a gunman on a beach hotel last month that killed 39 people. The tourism sector makes up 7% of Tunisia’s gross domestic product and is a major source of foreign currency and employment, according to a Reuters report.

In Egypt, militant attacks last year led to losses of around USD 100 billion due mainly to a decline in tourism and in the volume of foreign investments, said Alaa Rizq, president of the Strategic Forum for Development and Peace. Islamic State’s Egypt affiliate, Sinai Province, has killed hundreds of soldiers and police since 2013, and the insurgency has spread out of the North Sinai area.

The regional conflicts, a sharp drop in oil prices and the slow pace of reform have all taken a toll on economic growth in the wider Middle East and North Africa region, which is expected to slow down in 2015 and range between 3.1-3.3% according to a recent World Bank report on the outlook for MENA

The report said unemployment in the region stands at 12% and that rising fiscal deficits would leave the region with a deficit of 8% of gross domestic product in 2015, after four years of surpluses.

Figure 1. Direct damages on some Arab economies within a year of ISIS emergence


An invitation to study Iraq’s accession to the length} {Vta

7/8/2015 0:00

Due to be debated in Parliament next September
BAGHDAD Mustafa al-Hashimi
at a time when the House of Representatives and awaits the arrival of draft legislation on the central bank to comply with US tax law (Vta) before the middle of next September,

an economist called the Parliamentary Finance Committee to conduct a thorough study on officially join Iraq to this agreement being subject Michaba and needs careful and prudence on it.

defines "Alvta" which is an acronym for "Foreign Account Tax Compliance Act" as measures limiting evade US citizens from paying taxes to the Government of the United States, and entered several countries in this Convention recently.

In this regard, said the economist d. The appearance of Mohammed Saleh told the "morning" that there thousands of Iraqis are now holding US citizenship and most of them are making an income in Iraq.

Some of them owns properties or a pension or other and this is a problem if approved officially enter Iraq to the Convention "Vta."

and of due to the central bank to submit draft legislation between Iraq and the United States on tax compliance with US law (Vta) for submission to the House of Representatives in the coming period to decide before the fifteenth of September 2015 according to an earlier statement, the Ministry of Finance.

and questioned the benefit of all the Iraqi which will supply side US accounts of these citizens, it is assumed that Iraq is cooperating with the US Treasury in this regard as one of the international cooperation, noting the difficulty of controlling the accounts do not have the bank accounts in banks, as the government would be unable to bear so the burden under the circumstances taking place in the country.

He favored by banks Iraqi request for a written from customers who Iromon open an account they have no access to US citizenship, pointing out that Iraq has a strategic framework agreement with the US side, a comprehensive convention for all economic, military and administrative aspects and others,

especially the financial side where Iraq has a relationship with the US Treasury, and I think they will face another problem with all countries, including Arab and not with Iraq only in the application of tax compliance with the law of the fact that There are no free migrants and dual nationality country.

In the opinion of experts that Iraq’s accession to the Vta agreement "presented by the secret violation of citizens’ accounts in local banks, calling that this law (or the Convention) came to the rescue of US Treasury heavily indebted while the Iraqi constitution allows citizens to own more than one nationality as well that this law – in their view – makes countries like collector of American taxes free of charge and without charge.

He said the benefit to the need to examine the Parliamentary Finance Committee the subject full length as well as he needs to international cooperation and financial relations with the United States accurate and detailed, indicating the need of the Iraqi reforming the tax system.

There is a need to resolve this overlap in case it is decided to join officially because he will cause a large part of the investment movement within the country and determine the responsibility of duplication calculated by the tax in this case, considering that Iraq is free of double taxation country.

Salih stressed, that the study of the subject in the Finance Committee and cooperation with the United States is important but it should be at the same time so rational as well as the Americans want to international cooperation and the protection of their interests Balmemkn I support the Finance Committee to give its opinion to this topic and orientation and dimensions being is the core in the debate on the subject and show its recommendations as a watchdog for government departments.

He added that this cooperation for the American side as cooperation in the fight against money laundering, where they are preparing input tax evasion as an introduction to money laundering and I think that legislation combating law money which recently admitted laundering will help Iraqi legislator frequently in this area.

It is worth mentioning that the Finance Minister Hoshyar Zebari had discussed with the managers of bank and insurance companies and the taxes in the Ministry of Finance General and the Director of the Iraqi Commercial Bank earlier tax compliance with the United States of America Agreement (Vta ).

According to a ministry statement issued last February that he discussed the tax compliance with the United States of America Agreement (Vta) concluded between the United States and most countries and related tax compliance of the accounts of foreign to provide tax information on people who hold US citizenship.

The economic US sources said that law enforcement will not pose a threat to Arab financial institutions, as the rejection of these financial institutions to the law will lead them to the local downturn, where you will lose the ability to deal with foreign counterparts, or even with local financial institutions that comply with the law.

Some countries have decided to make a deal banks with US IRS directly, what makes their financial institutions subject to "Alvta", or face sanctions, which the United States will take against banks and countries that do not reveal private accounts Americans have deduct 30 percent of their accounts of US banks, and the last was prevented from dealing with them

Kaperoni:   Article – “Government banking sector seeks to open up to the world”

These kinds of articles is exactly what we want to hear. They cannot keep the dinar weak much longer. Remember, many think it is grossly undervalued. – — U.S. stocks inched up on Tuesday reversing territory late in the session, even as lingering concerns of a slowdown in the Chinese economy and increased fears of a Greek departure from the euro zone weighed on the major indices.

The Dow Jones Industrial Average gained 93.33 or 0.53% to 17,776.91 in spite of losses from Apple Inc (NASDAQ:AAPL), while the NASDAQ Composite index rose 5.52 or 0.11% to 4,997.46 despite a sharp decline in semiconductor stocks.

The SP 500, meanwhile, added 12.58 or 0.61% to 2,081.34, as nine of 10 sectors closed in the green. At one point, the SP 500 dropped below a key technical level and fell into negative territory for the year, before it rallied in afternoon trading. Stocks in the Utilities, Consumer Goods and Energy sectors led, each gaining at least 1% on the session.

On the Dow, the Coca-Cola Company (NYSE:KO) ended the session as its top performer after gaining 0.83 or 2.11% to 40.25. The slight gains came as the Atlanta-based global beverage giant announced plans to add more jobs at its independent bottling plant over the next several months. The worst performer was UnitedHealth Group Incorporated (NYSE:UNH), which fell 1.91 or 1.56% to 120.25, amid the continuing fallout from last week’s merger between Aetna Inc (NYSE:AET) and Humana Inc (NYSE:HUM).

The biggest gainer on the NASDAQ was Wynn Resorts Limited (NASDAQ:WYNN), which soared 7.09 or 6.83% to 110.97. Shares in Wynn are up roughly 18% over the last week, following unexpected revenue gains from its fledging Chinese resort in Macau over the last quarter. The worst performer was Tesla Motors Inc (NASDAQ:TSLA), which dipped 12.32 or 4.40% to 267.40, after receiving a downgrade from Deutsche Bank (XETRA:DBKGn) from a buy to a hold.

The top performer on the SP 500 was Chesapeake Energy Corporation (NYSE:CHK), which gained 1.34 or 12.86% to 11.76 after crude rallied moderately in U.S. afternoon trading. The worst performer was Newmont Mining Corporation (NYSE:NEM), which dove 1.27 or 5.32% to 22.59 after gold futures fell to a three-month low during Tuesday’s session.

Shares in Advanced Micro Devices Inc (NASDAQ:AMD) fell approximately 15% after the California-based chipmaker downgraded its revenue outlook for the current quarter on Monday after the bell. Shake Shack Inc (NYSE:SHAK) shares, meanwhile, dropped more than 7.5% after Morgan Stanley (NYSE:MS) lowered its rating for the upscale hamburger joint.

On the New York Stock Exchange, advancing issues outnumbered declining ones by a 1,849 to 1,325 margin. offers an extensive set of professional tools for the financial markets.
Read more News on and download the new apps for Android and iOS!

DUBAI, July 6 ( Reuters ) – Iraq’s government plans a domestic issue of $5 billion worth of bonds starting in the fourth quarter of this year as it seeks to relieve the pressure of low oil prices on its finances, an official told Reuters on Monday.

The medium-term notes, with maturities of between 12 and 18 months, will help to finance the budget deficit and be open to local banks, other institutions and retail investors, said Mudher Saleh Kasim, a former senior central bank official who advises Prime Minister Haider al-Abadi on financial policy.

Through years of conflict and upheaval, Iraqis have become used to hoarding large sums of foreign currency in their homes. The bond issue will seek to tap this hoard.

“It gives a unique opportunity to a group of investors who are cash-rich and essentially hoarders,” Kasim said. “We think there will be good demand for investment.”

The bonds will be denominated in U.S. dollars and issued in stages, according to investor demand. Investors will be able to choose to receive the principal on maturity in dollars or in dinars at a more attractive rate than the current market rate.

The plunge of oil prices since last year and Iraq’s fight against Islamic State militants has put severe pressure on its finances; the government has projected a budget deficit of about $25 billion this year, in a budget of roughly $100 billion.

International reserves at the central bank fell to $66 billion at end-2014 from $78 billion at end-2013, according to the International Monetary Fund, and they may have dropped further since then.

This has started to put pressure on the Iraqi currency in the secondary market, which sank as low as 1,400 to the dollar in mid-June from 1,228 a week earlier. It was trading at 1,240 on Monday, dealers said. The central bank auctions dollars to banks and licensed traders at a fixed price of 1,166.

Abadi told local television channel Al Sumeria in mid-June that the dinar was “strongly backed and there’s no fear about the exchange rate against the dollar”.

But he added, “There’s been speculation and scheming in recent days by those who are enemies of Iraq and finance corrupt people, and are trying to affect the current situation.”

In addition to the domestic bond issue, Iraq has said it plans to raise $5 billion with an international bond issue this year. In early June, the IMF agreed to lend Iraq $833 million, and last week the finance ministry said the World Bank would provide loans totalling $1.7 billion.


Post From KTFA By aggiedad77 » July 7th, 2015, 

Tuesday News Summaries and Commentaries

Iraq looking with American negotiators development skills to join the World Trade Organization

Ministry of Trade meeting with the US Embassy Deputy Economic Counselor, seeking to enhance the chances of Iraq ascending to the WTO…

Iraq can offer some things to US companies who might participate in an upcoming Baghdad International Fair perhaps in trade for some pointers as to how to woo the WTO powers-to-be in allowing Iraq entry into the organization soon….

Iraq knows full well that such entry would be very beneficial to their economic recovery on the international level….ascension to the WTO is seen as serious business… it feels like some serious backscratching going on here between the two groups.

Deputy: differences between the federal government and the Kurdistan region disrupted the project oil and gas law

One member of the Oil and Energy Committee says that the differences between Baghdad and Erbil has been the hold up of things progressing to Parliament….really….tell us something we don’t know… least he appears to be pointing fingers in both directions as both are guilty parties I believe.

Parliamentary Economic: $ 4 billion for the industrial and agricultural sectors in support of small and medium-sized enterprises

Revitalization of the agricultural and industrial industries may be getting underway shortly to the tune of $4 billion dollars in small to medium enterprise loans…..

this would be as a means to stimulate the economy through such financial support and also work towards rebuilding available jobs at the same time…..economic recovery signs.

Keywords: central bank independence is a prerequisite to enable it to achieve its monetary policy

Another great article that speaks to the importance of yesterday’s decision by the Federal Supreme Court to overthrow the move made earlier this year by the Finance Committee when they attempted to hamstring the work of the CBI…..

there has to be a high level of independence associated with the CBI activities due to the constant state of change they must be ready to deal with each day…..there is a big big difference in fiscal policy versus monetary policy….

with fiscal policy dealing with the annual budget issues that once fixed they become fairly static and unmoving…..

the Finance Committee made an attempt to throw the CBI into this realm….and it just doesn’t work….why….

because the workings of the CBI have more to deal with monetary policy for the country than just a static budget for a given year….

through the monetary policy process there are many variables at stake on a daily basis that must all be closely monitored and juggled to stay completely in tune with the best choices being made for Iraq…..

trying to push the CBI into working from a fiscal policy level greatly hinders their abilities to meet daily challenges….

they need to be turned loose and allowed to work within the confines of their own respective rules and regulations….watched by their own governing body…..

the Finance Committee is best suited to stay focused on political hodgepodge….or whatever is assigned to them as it seems questionable to me they fully understand their job at this point….no thanks to Maliki backers within the group.

Cabinet will discuss today the capital increase of the commercial bank and exchange employees’ salaries before Eid

The COM meets today as normal and they will have a variety of things to discuss….two notable issues are the possibility of increasing capital of the Trade Bank of Iraq (TBI), not sure where their capital stands today….

so not sure where it would be headed….also the potential for paying employee salaries prior to Eid….interesting….I would say the second of these is maybe a little of important to many Iraqis at this point in time….

they also continue to attempt to deal with issues surrounding displaced citizens, now in the Tikrit area…..sounds like a busy half-day or so schedule…time for golf this afternoon….don’t forget your sand wedges.

Rise in the dollar against the dinar in Mosul because of smuggled to the Syrian tenderness

Currency smugglers are alive and thriving in Mosul it sounds like……taking from the shop owners and transporting into Syria to trade and barter for weapons and salaries at or near their stronghold of Raqqa, Syria….

I do believe though that DAASH days are numbered in Mosul….take what you can now.

Start planning the investment budget projects for the year 2016 discussions

Budget planning time is never a welcome sight, no matter where you live or work….hated by some and avoided like the plague by others…..

sounds like the Ministry of Planning has been doing good homework with regard to putting certain mechanisms in place for other ministries and departments to build investment projects from and may include some type of device to help prioritize certain types of work…

times are still tough and will continue to require good judgment on the part of all who have authority to grant or dismiss project work…..

the activities must be based on sound judgment for there to be any expected success in the budget process…..or course, everyone’s projects will be the utmost important of all in the land and be expected to be fully funded….

but level heads must prevail and make hard decisions that will focus on success for Iraq in 2016 based on very real parameters and barometers of where crucial things are expected to go for the year.

“E-government” put an end to bureaucracy and corruption, it is hindered?

Yes 20 years after the phrase might have been coined….Iraq is finally moving towards an e-government concept but can still find things to be a hinder….after all….yes employees and citizens can gain access through an electronic key to various levels of government departments and agencies…..

however when a question is posed to these organizations….if no one is quick to respond then the process can be and is liable to be just as slow as a paper trail or sitting in line in some building waiting to speak to someone about a question….the key is follow-through and must be maintained and monitored or breakdowns become rampant.

Iraq plans to issue bonds worth $ 10 billion

Something that makes me pause with regard to this article and a couple that we saw several days ago that were of a similar nature….they are interviewing a “former” CBI employee….what kind of “official” was he….head of the tellers….head of security….head of the janitorial detail… can only guess at this stage…..

and how long has he been gone from the CBI and what pray tell could have changed since he was last employed…..he talks of things happening in the last quarter of this year….there is some “scratch” for Z to get his beak around again……

but we’ve heard from CBI sources….sources that are still gainfully employed by the CBI that the domestic bonds could be released this month and the international bonds released in August… who is right…..

just the presence of this article doesn’t make it right or so…..there is continued talk of the domestic bonds being denominated in USD but as they mature one would have the choice of taking USD or IQD but at a better than market rate….consistency there it would seem….

meanwhile the reserves at the CBI remain strong… cautious about the conclusions you might be enticed into here with a document like this.

Kurdistan: all disputed areas under the control of Aconite Mirka

You’ve heard the old adage, “Possession is 9/10’s of the law”…..if that is the case the Kurds have a strong case on their side for control of areas of dispute….

their Peshmerga is forcefully entrenched in those areas that had formerly been of issue between them and Baghdad, especially after the Iraqi Army turned tail and ran last year….

since then the Peshmerga have been doing a valiant job of keeping DAASH at bay and maintaining a stronghold on these key areas within their realm of things in the Kurd Region…..time will tell what plays out in this political football though I believe.

(News Today) unique to publish the terms “political agreement” and accomplished by the Government of Abadi

You can’t please all the people all the time….and some of the people just walk around sullen no matter what you do or say…..

PM Abadi has his hands full in trying to convince the various political factions that he and his government have indeed accomplished far more than they are being given credit for doing…..but sometimes even the best of intentions will fall upon deaf ears or the ears of those who just choose not to listen…..

such is the case with some Sunnis and with some Kurds….they want every thing and expect perfection….but neither is capable of being delivered…..”shoot low boys….they are riding shetland ponies”……

while the government is not where it wants to be, I think the government is glad it isn’t where it used to be…meaning the spot where they took over the reins from Maliki and his thugs….

some in Abadi’s circle wants to point the finger at Parliament for dragging their feet and yes that is an issue…

but the blame if you will is all encompassing and needs to be rightfully shared….pick the pieces and push forward, don’t give up and don’t look back….let tomorrow be a better day.
New Political System would Open Door to Maliki

Do not let this article cow you…..I’m with Frank on the M issue big time….he is being neutralized and being taken care of….I still don’t trust him…..but believe his power ebbs more and more with each passing day….

there are too many things that would have to happen and require far more support than he has today to bring him back…..he will have a day….many day in fact in court before his nightmare is over.

Planning: We seek to project plan for reducing its 30% within the 2016 budget

If the Iraqis are truly looking into 2016 and seeing a need to cut 30% of things I am believing that to be a pro-active thing on their part….a good thing….

one never wants to make deep cuts like that but when it is recognized as being necessary it is best to tackle that giant right up front…rather than at the tail end. Be prudent in what you know to be realistic…

don’t let dreams cloud the way to the future that will keep you out of further financial doom and gloom.

Deputy: the Federal Court to review the appeal Pfqrarat 2015 budget law

In my opinion….this sounds like an opinion piece of some Parliament member…..on what authority does he make these statements….and to what degree would the Federal Supreme Court feel the need to already second guess the decisions it made only yesterday….wishful thinking it seems to me.

Well time for a break…..hope to see you tonight on the Bibly Study CC…..promise to bring some dessert in after we are done studying Philippians Chapter 4…..bring your fork.

Aloha  Randy