Tuesday, October 20, 2015


TNT : 

Iko Ward:
 Interesting...Forex just reset the Dinar to CBI rate. Awfully early for that. Irradic movement we like.


CODreamer:  Janet yellen - 11 am ET http://www.federalreserve.gov/whatsnext.htm

BigE-13B- (Remember this?)  Pope Francis Calls for Global Bankruptcy Process


Pope Francis Calls for Global Bankruptcy Process 

 Washington, DC - Pope Francis called for an international bankruptcy process in a news conference as he left Latin America on Monday. According to the Associated Press, when asked about the Greek debt crisis, Francis stated, "if a company can declare bankruptcy, why can't a country do so and we go to the aid of others?" Francis offered further comments noting that too many countries are struggling with high debts and he suggested a United Nations bankruptcy proposal could be the solution.‎

“Pope Francis knows that heavy debt loads cause poverty and inequality,” said Eric LeCompte, who consulted the Vatican on its position. LeCompte is the head of the religious development organization Jubilee USA Network. “The Pope's statement is a logical extension of the Catholic Church's strong support of debt relief for struggling countries."

Last year, LeCompte led a delegation of global Jubilee organizations to advise Vatican Secretary of State Cardinal Pietro Parolin on the need for a bankruptcy process to address inequality. The Catholic Church is a founder of Jubilee USA and supports its efforts to win debt relief for struggling countries.

In September of 2014, the United Nations General Assembly voted 124-11 to develop the bankruptcy process that Pope Francis referenced. LeCompte addressed the UN earlier this year on the creation of the process. This Fall, the United Nations is set to review progress on the proposal. Because International Monetary Fund (IMF) studies point to debt as a cause of inequality, the IMF is exploring aspects of a bankruptcy process based on an April 2013 paper. In addition to the debt crisis in Greece, nearly 50 countries‎ face worrying levels of debt distress according to World Bank statistics.

“A bankruptcy process is critical if we want less poverty and if we want to prevent financial crisis,” stated LeCompte, who consulted a recent United Nations Conference on Trade and Development road map that fed into the UN bankruptcy process. “Bankruptcy means less inequality and more global stability."

Read the United Nations Conference on Trade and Development road map: Sovereign Debt Workouts: Going Forward Roadmap and Guide

Read the IMF's April 2013 paper on debt restructuring. 

View the United Nations General Assembly Resolution on a legal bankruptcy framework.


Blinkster::  Looking back to Kuwait, yes there were many lessons learned. However, one thing that has not changed are the distractions/diversions to keep us guessing in this shell game AND their attitude towards the West.

Kuwait I mention because they came out right before they RV'd and said, "well yes we are going to revalue our currency, but it's still a few months away..." (I think they said 3-6 months), and wouldn't ya know it, those coy Middle Easterners, right after making that statement in the press, BAM, they did it...in a matter of not months or weeks, but days.

Perhaps the press is now in our favor regarding the MR of the IQD; but having said that, and yes I'm just a bystander here, my gut feeling is that it isn't going to be long before we hear a certain lady sing, so to speak.

I value iTeams, Franks, and Delta's (and his team's) opinions.... IMHO, the Iraqis hate the fact that we hold their currency and will benefit from it... I see them thumbing their nose and doing this sooner than later, catching us completely flat-footed if they can; and they likely will. IMO and all that.

Either way it's a winning situation for us, but for them, it behooves them to do this sooner than later. Remember Frank's analogy about them running red lights so to speak, with the pedal to the floor. Hehehehe


Aggiedad77:  Good Morning Family, I believe you heard Frank speaking of this very problem or issue last night....the collapse of the reserves if the Iraqis don't do something pro-active soon.....within the next few months, their cash reserves which stand at or just below $60 billion dollars will be impacted greatly as they continue to be siphoned lower and lower.....they need to stop the leak in the dike......may they see the light.....the green light about to turn yellow and speed the process....pedal to the metal time.

Walkingstick:  The future of the Iraqi dinar is subject between government corruption and the return of oil prices to their previous levels

Al-Fayhaa TV | Al Fayhaa TV

Published on Oct 19, 2015

Accused the former Minister of Communications Mohammed Tawfiq Allawi those responsible for the economic file to make decisions leading to the collapse of the country's economy likely to witness next year a significant reduction in the cash reserve for Iraq with the impossibility of the return of oil prices to their previous levels. Report / Ahmed al-Abadi


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