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Monday, July 6, 2015

MILLIONDAY CHAT UPDATE, 6 JULY

Millionday: Hussein al-Tamimi Tgb stressed expert in the agricultural sector d. Abdul-Hussein al-Hakim, the importance of economic diversification, which represents the natural way to sustainable development, noting that the agricultural sector one of the most important sectors with a strong foundation helps to economic stability in the event of fluctuations in the global economy, such as lower oil prices in the global markets.
Millionday: NOTE -- IT WAS MADE CLEAR A LONG TIME AGO THAT THE GDP IN IRAQ NEEDED DIVERSITY -- THEY HAVE DONE WELL
Millionday: He said the "morning" on the sidelines of an economic seminar that achieve the best tempos in economic development is in agricultural investments modern projects for medium and large as well as small agricultural projects for the agricultural sector of important economic site after the oil sector, pointing out that the sector is on the achievement of food security and increasing non-oil commodities exported only The rate of contribution in the formation of GDP in 2013 does not exceed 4 percent at current prices and 6.9 percent at constant prices even though he possesses the hands of labor and agricultural land and irrigation water.
Millionday: NOTE -- AGRICULTURE DIVERSITY IS THE BEST WAY -- KURDISTAN DOES NOT HAVE A LOT OF FOOD -- AS WE KNOW --- ALSO IRAQ IS KNOWN FOR DATES --- THE MARKET IS EXPANDING IN AGRICULTURE AS WELL -- SMILE
Millionday: NOTE -- THEY DID CARRY HIGH 90S IN OIL PRODUCTION -- SO IT HAS CHANGED ECONOMICALLY
Millionday: He said if the oil resources concentrated in the construction of development projects through the investment of these resources as ideal , especially in the agro-industrial projects, to have been achieved breakthroughs in the production of agricultural commodities raise the percentage contribution of the agricultural sector in GDP to high levels are important stability of the national economy factor.
Millionday: NOTE -- DIVERSITY IS VERY IMPORTANT FOR THEIR GDP AND WE HAVE READ REPORTS OF DEMANDS TO ADD MORE THAN JUST OIL RELIANCE FOR THE COUNTRY`S ECONOMY -- AND DEVELOPMENT ETC
Said managing director of the Islamic Bank country Iyad al-Bayati, for "tomorrow Press," that "Islamic banks and since the early stages of its work in Iraq after 2004 began to keep pace with the developments witnessed by the world in this field," noting that "Islamic banks in Iraq has been able to raise capital their money into possible that the commercial banks not only in Iraq, but even in the countries in the region compete "levels.
Millionday: NOTE -- THE CALL FOR ISLAMIC BANKING AND LAWS -- IRAQ HAS RAISED CAPITAL FOR COMMERCIAL BANKING --- WHOOOPOW
Millionday: He said al-Bayati said "the work of Islamic banks can not be promoted unless there is no facility from the Central Bank of Iraq, as well as a law that regulates rely on it," pointing out that "the success of Islamic banks lies in the assets supporting the balances work."

F
or his part, he noted expert in banking affairs supporter compassionate for "tomorrow Press," that "there is the expansion of banking Islamic in the world and regional area and are striking, especially as more than 600 bank worldwide branches scattered in most of the cities with assets of more than ( 3) check trillion annual growth rate exceeding 30 percent of the market share of the banking business.
Millionday: NOTE -- CBI NEEDS TO MOVE FORWARD WITH BUDGET MONEY AS WELL --- ALL BANKING HAS TO WORK TOGETHER AT THIS POINT
Millionday: NOTE -- LOOK HOW HUGE THE ISLAMIC BANKING IS -- SMILE
Millionday: He explained that the compassionate "Islamic finance operations have become the focus of attention of many peoples of the world," stressing that "the Central Bank of Iraq and the House of Representatives seeking to enact a law regulating Islamic banking work and makes it a real partner in the Iraqi banking sector."
The banking system in Iraq is made up of 54 banks, as well as the Central Bank and distributed by property between (7) state banks and 23 commercial banks, including special (9) Islamic banks in addition to the 15 branches of foreign banks.
Millionday: I WOULD WANT TO BE A PARTNER TOO IF I WERE IRAQ --- GREAT TO SEE THEM WORKING TOWARD BANKING DEVELOPMENT WITH THE ISLAMIC BANKS --
Millionday: CBI NEEDS TO MOVE
bluedog: Have you seen anything on constitutional rulings regarding CBI Auctions? I can't find anything but saw something somewhere.
Millionday: I THINK I SAW SOMETHING ON IT TOO BUT AM NOT SURE WHERE -- I HAVE TO LOOK
=======================================
Millionday: I DONT KNOW IF YOU ALL HAVE SEEN THIS
Millionday: House of Representatives ended today at its session the first reading of the draft general amnesty law.
A source told the National Iraqi News Agency / NINA / said the council decided to add a paragraph to the agenda of its meeting today, which is to Sworn in, Rassol Sabah Hassan, as an MP for (Ahrar Bloc, to substitute Mohammed al-Darraji, who served as Minister of Industry
Millionday: PARLIAMENT FIRST READING OF AMNESTY YESTERDAY
===============================
Millionday: BLUE IS THIS WHAT YOU MEAN?
Millionday: " The Federal Supreme Court, announced today the unconstitutionality of Article 50 of the Budget Law for 2015, and the judge to "compel the Central Bank identifies sales of hard currency [the dollar] in its daily auction ceiling does not exceed $ 75 million a day." It is noteworthy that the central bank opposed this selection being restricted from "financial movement and secure liquidity in the financial market
Millionday: THE FEDERAL SUPREME COURT SET LIMIT TO 75 MILL
clay01: did they find it unconstitutional? Art 50
Millionday: YES
=================================
Millionday: HERE WE GO
Millionday: LAST ONE
Millionday: Center Brief for the Iraqi Media Network (IMN) - a member of the Finance Committee in the House of Representatives Jabbar Abdul Khaliq said, that the Federal Court robbed right Committee and the House of Representatives on amendments to the budget law in accordance with the rules of procedure of the Council.
Millionday: NOTE -- THE FEDERAL COURT ALSO FOUND THAT THEY MAY NOT AMEND THE BUDGET
Millionday: He said Abdul Khaliq's (IMN), that "the Finance Committee today held a deliberative meeting to discuss the Federal Court judge's decision to cancel all the amendments and additions, transfers conducted by the Commission and voted on by the House of Representatives on the federal budget for the project."
Millionday: NOTE -- BUDGET MUST REMAIN
Millionday: Abdul-Khaliq said that "the meeting expressed their surprise and dismay of the Federal Court decision which robbed right Committee and the House of Representatives in the amendments to the budget law in accordance with the rules of procedure of the Iraqi constitution."
He said Abdul Khaliq "The decision of the Federal Court to make the House of Representatives of the Finance Committee in charge of only the ratification of the budget that reaches from the government without making any adjustments they deem appropriate and necessary."
Millionday: NOTE -- THIS IS GREAT --
Millionday: Federal Court decided today, Monday, to approve the appeal made by the Prime Minister Haider al-Abadi and Governor of the Central Bank of Iraq with materials the federal budget, which Parliament amended the paragraphs highlighted the abolition of Article 50 of the law which identified the Iraqi Central Bank sales ceiling of hard currency by 75 million law dollar a day.
Millionday: GREAT REPORT
Millionday: WE GOT THAT FROM ONE OF OUR GREAT MEMBERS
Millionday: HAVE A GREAT DAY AND SEE YOU ALL AT NEWSTIME

BACKDOC UPDATE , 6 JULY

 Alert: U.N. Debt Expert Says Greece Can't Take More Austerity.Greece cannot take any more austerity as it will cause more social unrest and lessen the chance of an economic recovery, a United Nations debt expert said on Monday.

Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday, throwing the future of the country's euro zone membership into further doubt and deepening a standoff with lenders.

Juan Pablo Bohoslavsky, the U.N. Independent Expert on Foreign Debt, told reporters in Beijing that Greece's creditors in the European Union should have paid more attention to what international law says on the matter of debt.

"I have the impression that the EU had forgotten that international human rights law plays and should play a key role in finance. The international community attaches great importance to the interlinks between human rights and finance," said Bohoslavsky, who operates under the auspices of the U.N.'s High Commissioner for Human Rights.

"The message here is that if the parties involved in the Greek tragedy paid more serious attention to what human rights law has to say, everything would be easier, for the Greek population particularly," he added.

Bohoslavsky said the austerity demanded of Greece had not worked, adding he will visit Greece later in the year.

"It's very clear the message from the Greek population - no more austerity measures. Actually if you look at the figures, austerity measures didn't really help the country to recover."

In a separate statement, Bohoslavsky said he was concerned at reports of food and medicine shortages, and that he was asking to meet EU officials to remind them of their human rights obligations to Greece.

Bohoslavsky, visiting at the invitation of China's government, said he carried a message of the need for human rights to be considered in global lending, something important for China which is setting up two new multilateral lenders - the Asian Infrastructure Investment Bank and the New Development Bank.

"A narrow idea of efficiency in which human rights plays a limited role should not find its way into these two banks," he said.

China has promised that the infrastructure bank will follow global best practices in transparency and governance.

Rights groups often criticize China for its "no-strings" loans to countries, especially in Africa, for encouraging corruption and abuses with a lack of oversight.

http://www.reuters.com/article/2015/07/06/us-eurozone-greece-un-idUSKCN0PG0PP20150706

FUZE POST FROM TNT :Greece Default And The Subsequent Contagion, May Force The Reset, 6 JULY

Greece Default And The Subsequent Contagion, May Force The Reset!

We were all intrigued by the 2012 Bloomberg Interview on the coming global currency reset; when a financial expert was asked what keep's him up at night and he proclaimed the coming massive default or reset of the euro. Well a Greece default and contagion may finally bury the stinking corpse of the euro.

Rather this moment was contrived and engineered for a global reset or an evolved opportunity; a Greece default may be just what's needed as a forcing function for what we seek. 

 I know a lot of my TNT friends have bought into the rhetoric about Greece being the bad guys and are a bunch of suicidal crazies. I can assure you, that's a lop sided view.

Just last night I was with an acquaintance from a smaller new EU nation. He carefully explained the dynamics of the situation in Greece and a number of other EU countries.

Remember "confessions of an economic hit man" well it's in play here with a terrible twist and I can assure you that other EU nations are watching closely and are READY TO LEAVE THE EU!
~~~
One of the most balanced articles I've read on the Greece austerity situation and why it has failed, I included with this post! What seems to have worked a LITTLE in Spain and Portugal, could not work in Greece; structurally different economies.

Either way out of necessity or fear, I think this may be the trigger we need. Enjoy the article and go look at the you tube video again from Bloomberg.

Welcome RI/RV    FUZE

PS:  Now that we have a bona fide rejection of austerity, perhaps the subsequent Euro rumblings, will create a necessary quick Reset fix for Europe. Obviously the sufferings of Iraq was not sufficient to merit a timely  Global Currency Reset, may be this will do it!!

Welcome RI/RV/*GCR   FUZE

See Article Below.

Tim Worstal wrote an amazing piece in forbe's earlier this year that may shed some light on the reasons why the imposed austerity program didn’t work in Greece and yet marginally worked in other EU countries!

The Reason Austerity In Greece Didn't Work by Tim Worstal

One of the little puzzles of the past few years has been why was the reaction of the Greek economy to austerity so much worse than that of other countries?

For it is true that other countries (I think particularly of Spain and Portugal) had the same sort of shrinkage of the government budget, had the same (entirely wrong and inappropriate) monetary and currency policies but they did much better. Or at least not as badly.

So what was the secret to that Greek economy that made the out turn so awful?

And awful it is, Greece has had a fall in GDP akin to what the US had in the Great Depression of the 1930s.

The answer, it appears, is that the underlying structure of the Greek economy is such that it just couldn’t take advantage of the meager benefits that austerity did provide.

The point is made in this NYT piece:

Greece has fared much worse than other euro-zone countries that faced a sudden drop in foreign financing, and then enacted similar austerity programs. It lost 26 percent of its G.D.P. from the pre-crisis peak, while Portugal, Ireland and Spain lost no more than 7 percent each. Much of this difference is due to foreign trade.

Yes, of course, there’s more to it than only foreign trade. But this is also a large part of the difference:

Finally, the size of companies in Greece is a fundamental structural issue. Industrial capitalism was never strong in Greece, which is a society of small owners and of microbusinesses. Land and homes belong mostly to their occupants, free of mortgage, more so than in any Western country.

Self-employment and companies of fewer than 10 employees are much more prevalent than in any other European nation.

Only 5 percent of employment in the whole economy occurs in companies with more than 250 employees. Even the main export industry, tourism, consists mostly of medium and small businesses.
Think it through as a macroeconomic story for a moment. So, austerity might not be the best policy in the first place. And being tied into a currency and monetary policy entirely inappropriate also doesn’t help, to put things mildly.

However, when there’s vast unemployment, as has happened, then wages are going to fall, as has also happened. At which point exports should pick up: it’s now cheaper for foreigners to purchase the products of Greek labor. At which point some of that lost GDP should start to come back.

However, that macroeconomic solution does depend upon the microeconomic structure of the economy itself. And a vast morass of small firms with very few large ones is just not going to be conducive to increasing exports. 

Simply because small firms tend not to export nor have the ability to start doing so. So while the wage and productivity issue might have been dealt with the country simply cannot take advantage of that fact. Thus Greece is stuck.

There’s one other thing we can say about this too. Which is that if this is the reason for the ongoing problems then being out of the euro won’t in fact help all that much. 

For the point of being out of the euro is that one could have devalued the drachma to achieve that same reduction in export wage rates. 

But if the economy simply isn’t able to increase exports, just because it doesn’t have companies capable of exporting, then that’s not going to help much. Thus the end answer is that Greece really does need structural reforms in or out of the euro. And those, sadly, take time.

SUNNY POST FROM TNT : TONY'S CLIFF NOTES, 6 JULY

Highlights of Tony's CC.  Updated as the call progresses.


Tony:  Everybody ready to go.  Said they would release 50,000 Dinar coin Sunday morning but did not.  Once again did not live up to what they told everybody.

CURRENT WINDOW:   Tony:  There was a plan in place last Wednesday.  Supposed to initiate on Friday.  Have not come to the end of the plan yet.  There was an agreement to see how the markets would react to the Greece vote.  . . . We don't have to wait for Greece situation to be settled.  It's really just about the markets. . . If it doesn't go to crazy they will let it go. . . No attempt has been made to release it in the last 2-3 weeks.

Tony:  They could say this afternoon, "Let's go."

IRAQ:  Tony:  Iraq is ready.  Given people money.  Loaded the cards.  US not holding it back anymore.  All this negative has increased the dollar.  They (US) want this to go.    It is in the system, tested and working fine.  Rate is everywhere.  Even in Baghdad.
  • All of Iraq, except right on the border and anyplace not controlled by ISIS, has access to new rate.  Even in Baghdad.   
  • TV/Mosques:  No intel was reported from them.
INTERNATIONAL:    Greece and Iran are not directly involved with the RV but Tony said they affect it on a global scale.
  • GREECE:  Voted "No!"  Tony does not see the Greece situation being solved soon.  Could go on 2-3 weeks.  Tony said the game Greece is playing is that the IMF, etc will give Greece the money anyway.  Greece has run out of money and people are being foreclosed on daily. Tony:  Announcement just made they will not give Greece any more money. . . IMF, US, Germany not going to give into Greece.
  • Spain, Portugal, etc. are watching the Greece situation as they have similar issues.
  • IRAN:  tomorrow is a big day for Iran.  (July 7th is deadline for agreement.)  Tony:  We could trade their currency.  Wouldn't be one I'd be looking to do.
  • IMF    
  • Rates     ZIM:  heard deadline moved to Sept.  Iran:  Caller said seller told him it was legal to buy or sell (Iran currency).  Tony:  You can call a bank.  They would not sell it if illegal to sell. . . I'm not involved in it or have any.
UNITED STATES:   Tony felt the financial markets are not down much this morning in reaction to Greece vote.  
  • Banks:  Staffed and worked over this last weekend. When you open an account you can have it made private so none of the banks affiliates can access the information or contact you about promotions. 
  • Contract rates still available         
CLOSING STATEMENTS:

PAM:   Not much to say .. You know it is real .. we just have to hang in and wait .. we have no agenda .. Just keeping you informed .. Cut us some slack we are doing the best we can.  We all just have to hang in there and wait. We've done our research. Just here to help you. Hopefully talk to you soon. 

RAY: Marvelous Monday.  Let chips fall where they may.
TONY:  Today's call to tell you what happened over the weekend. I need to see if today or tomorrow, stuff happens. I'm still in a good place. I think things working out fine with markets today. Not dropping 200-400 pts. My issue, is Iraq did not issue 50,000 dinar coin like they said they would. 
Will get an update t his afternoon. Have a good feeling on it.  Banks in position.  People worked over the weekend.  That’s a good sign.  No one we hear from is upset anywhere.  All attention being put on Greece. 

Iraqi’s are first in line, as they should be.  We are looking for an announcement that they have taken their place in the world.  It was not an investment.  Did not research like a stock.  Our’s is better than a lottery ticket.  We have a guaranteed, winning ticket, we just don’t know what day. 
Enjoy your day.  Going to enjoy mine.  If something happens I will Tweet as quickly as possible.

TNT CC NOTES, 6 JULY

TNT Call notes 6-July-2015
Tony:  Good morning, TNT!  Today is Monday, July 6, 2015.  We’re having technical difficulties, so we might just give the news and make it a short call.  They switched our numbers around and Pam is over there raising Cain. I hope you all had a great Fourth of July.  I did, for the first time in years.
The news is the same:  everyone is ready to go. Some people have actually exchanged.  They said they would release 50,000 fil coins o Sunday, but they didn’t.  We often don’t get the real news until Monday afternoon.  We have people over there telling us what they are actually being told.  This time they said that they would release the coins, but they didn’t. 
So here is the deal.  There was a plan in place last Wednesday that was supposed to initiate in Friday.  I told you I wouldn’t say what the plan was in case I messed it up. WE haven’t come to the end of the plan yet.  Part has been initiated, but I don’t know when it will be visible for everyone, or if it will conclude on time.  The only thing I didn’t like is that we didn’t see the coins on Sunday.
What should be everyone’s concern is Greece.  Their situation doesn’t direct affect the RV, but on a global scale it does, and so does Iran.  If the market is down, that is not the ideal situation to release this.  However, that cannot block it forever.  Those who are watching this say that the market is not so far down for everyone to be super-concerned. They are looking for the right moment, and that’s why I am not upset at this moment.  If it was me, I wouldn’t do it, because why put all this money into a sinking ship.  I would put it in when the market is high, to bring it higher and make it more beneficial.
I personally do not think the Greek situation will be solved to day or tomorrow.  You have to understand this on a larger scale. Greece voted NO;  they didn’t want to live up to the German and IMF requirements.  By their PM saying No, which everyone thought was crazy, and now the people have said No… they still think the Eurozone will give them money as if they are entitled.  The younger generation doesn’t remember how things were;  they want the money without working for it.  Now the EU has a choice to make.  Greece is going to submit another agreement to them tomorrow.  If the EU agrees, then more countries will want to change their deals as well, and then the EU loses face all around.  They cannot make that deal with Greece because they lose.  The Greek PM thinks that he has won, that he can change the rules to get the four trillion dollars they are asking for.  Who does that make sense to? The EU has the money and they are going to let Greece tell them what to do in order to save the country?  That’s ridiculous and I don’t see Merkel and the EU giving in to them.  Is that all it takes to change the game?  The Greeks who voted No will be feeling it when their banks don’t open, when there is no money and houses are being foreclosed on.  This whole thing is ridiculous.
That’s why they waited;  that’s what is affecting the RV.  They agreed to wait and see how the market reacted to this.  It was down yesterday and today – not down to where it will destroy the global economy, but it’s down as investors wonder if they will come to quick agreement or not.  This could drag out if they make it about the global markets. That is a decision that is being weighed right now.  It could still come out today or tomorrow after the meeting, the announcement and the reaction.  We know everyone else is ready.  This is no longer about the US or Iraq because they are ready to go.  Iran is tomorrow also, so that is a big day.  There is nothing we can do but wait.
I was on twitter, and one person is getting very frustrated, that this is what they signed up for;  it’s strictly an investment opportunity.  This person doesn’t care how the Iraqi people are suffering.  This is NOT an IPO – they shut down sixty of them yesterday!  If this strictly a monetary investment, then do what you would do in that case:  sell your currency, get off the call, and move on.  We are right at the very end, and if you can’t hang on, then make life easier on yourself.  It’s not a stock option.  If you are looking at it as a stock option and it’s not coming out the way you like, then sell the stop.  If the RV doesn’t go the way you want, what are you going to do?  Force the company to set a new price?  We have none of those positions.  You can buy some more;  just be here.
We are in a great position!  All we can do is wait. Yes, the reserves have been cut off.  You can still buy more currencies.  You need to stay calm and wait, not whine and cry and demand that someone do something because you are tired of it.  Be positive!  Know that Iraq is ready – they have loaded their cards and let people spend it.  There are things in the real world that are happening this RV.  All this negative news has increased the power of the dollar.  They want this to go, but you have to understand the dynamics in the real world.  Let’s see what happens.
310 caller:  About the zim, are there any laws/stipulations about owning zim banknotes?  Some people have said the Iranian rial is illegal for US citizens to own, so…
Tony: There are no restrictions on buying the zim.
Caller:  Do you have to buy from a licensed dealer?
Tony:  I don’t know.  I can’t give you legal or financial advice. I bought mine from ebay, and it’s been going on for years.  Those were the notes I was told (by government folks) were the ones we should be looking for.
Caller:  So you don’t see any problems buying zim through the internet.  Who would they be licensed through?
Tony:  I don’t see any problems with that.  The money dealers I have faith in say they are licensed as a money services company.  There shouldn’t be a problem.
Caller:  I’m a bit concerned that the rial is not legal for us to own.  I knew about the EO for the dinar, and I wondered about laws respecting the zim.
Tony:  I don’t know of any problems there.  I saw documents that they were supposed to bring it back in January, and then in July.  I don’t really know about rial, but I’m not planning to buy any myself.
Caller:  Do you have any information on the NDA – will it be required for international rates?
Tony:  Not for the international rate – NDAs are only for the contract rates.  Other than that, you are just exchanging currency, like the Mexican peso.  You wouldn’t sign an NDA for that, or for anything else at international rate.
Caller:  In the Top Ten Things, it says to exchange into two new accounts, and then sweep them into two more accounts.  The banks say that could raise a red flag.  Also, to set up takes $50 each – do you take those dollars out first or what?
Tony:  We were told years ago to NOT put your dinar into an account with any other money as they are tracking dinar money differently.  Keep that separate.  You have to open a bank account with a few dollars, and it’s too small for me to worry about.  Some people will exchange your money other places than the bank itself.  Do I want that other place to have all my banking information after wiring in the funds.  I would change all that as soon as their transfer hits my bank.  I’m not sure about their system, so I would move that money over to a new account and close the original one.  That way, if their system gets hacked, they no longer have access to my account which now has millions in it.
The other thing you can do, if you put your money in the bank yourself, is to have your banker code your account so that the manager is the only one with access.  Any of their affiliates have to go through the manager before they attempt to contact you.  That will stop those calls, pretty much.
Caller:  If there should become any issue about purchasing zim on ebay, then it would an issue with exchange, not purchasing, right?
Tony:  I don’t see any issues with exchanging zim.  That would mean total chaos.  All I can say is ‘look beyond your front door’. Look at what might affect the desired results. Everything that glitters is not gold – that applies to many situations.  Don’t believe your lying eyes.  There is something else going on.  But you’ll be alright.
404 caller:  You indicated that everything is fine, everyone wants this, and now the situation in Greece is putting a damper on this as ‘they’ want to see how the markets react. Then you suggested that the IMF might drag this out for 3-4 weeks.  Really?
Tony:  Yes, it could drag on that long. They are having meetings today and tomorrow, and nobody knows what Greece will offer.  The EU and the IMF can’t agree to the Greek PM’s terms right away because that will make people look bad.  I don’t’ see that happening. 
Caller:  It could take a while for things to get calmer in Greek itself, but how long can the RV/GCR be held up because of what’s happening in a small country?  If they find the market hasn’t reacted too violently, why would they let this go ahead?
Tony:  Last week, when they said Greece might say No, the markets reacted with barely a blip.  The Greek citizens then said No yesterday, and then the markets said there was more of a standoff then they expected.  We are seeing a bigger reaction from the markets but not as much as expected.  So now they are watching the investors for their reaction.  Greece is just the tip of the iceberg;  if they make a mistake with Greece, then Spain, Italy and Portugal may also collapse or want to renegotiate.  Then we have a real situation.  [power went out, can’t hear the internet line]
But otherwise we are ready to go.   All the tests are working fine and the rates are there. It’s a matter of when to let it go globally. The market will tell us everything.  If the market doesn’t drop 200-300 points today, then they may let it go.  It’s a matter of what the IMF, BIS and US says – if any of those asks them to hold on a moment to see what’s happening, they will pause.
Caller:  Vegas, Vegas, Vegas!
Pam:  We have a guest on the call;  I’ll send you a text.
719 caller:  Is Iran having any effect on this delay, or is it just Greece?
Tony: I’m not hearing anything about Iran affecting this at this time, just Greece.
Caller:  So once they are comfortable where this will settle, they could let it go right away. They are not going to wait for three weeks, are they?  My heart goes out to those with an ailment who are waiting for this to get treatment…  Will they wait for the markets to solidify, or wait until Greece gets everything settled?
Tony:  I do think that we will find out in 48 hours, 72 at the most.  It will take weeks for Greece to get this settled altogether, and as long as the markets have a good sense of which way that will go, then they will let this go.  It doesn’t make sense to pour money into a bucket with a hole in it;  it makes more sense to stop up the hole first. Everyone has their own reasons for being involved in this, and of course we wish this happened six months ago.  But we have to live with this because there is nothing we can do.  I’m looking at the board, the text messages I get, etc., and of course everyone wants their money.  But we still have to live with reality.  It’s not just about us, or just Iraq either;  it’s about the global economy and people losing a lot if they do this at the wrong time. I want to go to the bank, but I’m not selfish enough to say “give it to me;  I don’t care about the rest of the world.”  When we get this opportunity, we will be among the 1%, so we don’t need to condemning anyone else. I’m just as tired of this as anyone else.  I have bills to pay as well!  It is going to happen, so hang on.  Don’t try to drag everyone else down in your frustration.  Don’t demand I do anything to force this;  I understand, I’m sympathetic, but this is just a small group in the overall picture.  I’m more concerned about those on this call, but we are going to reap the biggest benefit from this.  The five or six million don’t understand, and don’t know how to deal with this.
Caller:  I read that Ramadan will end on the 15th, but that’s not related, is it?
Tony:  The last day of Ramadan is the ‘day of giving’.  Iraq has given their people money on their cards, so they do have some money to work with.  We had calls from lots of people in Iraq saying they have been paid at the $3.91 rate!
Caller:  Is this a way for us to get pushed out of this?  Does all of Iraq have money or only certain parts of it still?
Tony: My understanding that any part not on the border or controlled by ISIL now has access to the new rate, even those in Baghdad. People have called us to say it’s on their cards.  I don’t know if that’s true for everyone, but the people we talk to do have it.
Caller:  What about the contractors who gave Iraq until June 15th?  Are they now paid?
Tony: The contractors we are in touch with have been paid.  I don’t know the rate.  We do have someone who got paid at a higher rate than the $3.91. We’ll see what happens.
Caller: I hope it gets resolved and we are out of this no later than the 15th of July.
559 caller:  How are you?  I’m blessed on top and can’t be stopped.
Tony:  I’ll be super-fantastic very soon.
Caller:  I know you’ve been answering questions about Greece.  I understand those frustrations;  everyone has issues/problems.  God’s a good God and we’re all going to be on top.  Hang on and you will get some awesome results. 
Tony:  Thank you!  I appreciate that you are going through it like everyone else.  We should not be a ‘me, me, me’ society.  I know it’s not here at this moment, but we are so close enough that if we hang on, we will all benefit from it.
Caller:  It’s like the cat hanging from the tree.  After ten years, what’s a few more days?
Tony:  Ramadan is over in 8-9 days;  I’ve been in for five years, and I’ll hold on.
Caller: You pray and you wait between the Amen and “there it is”!  Quick question about the thing with Greece:  someone mentioned that groups were going at the end of the month, then the 25th, and also someone said that people in Iraq were exchanging at rates even better than what we’ve been hearing and seeing.  She said just to hang on, because they are going to be better.  With Greece, when they were so close to saying “let’s go”, wouldn’t it have been better to do it and then handle Greece after the fact?
Tony:  Let’s say you have $50,000 in your account, and I’m about to get $100,000.  Right in the middle of getting that 100K, I’m in the middle of a lawsuit.  They manage to freeze my bank account with the 50, 000, and if the 100K is in there, I’ll lose that as well.  Now, if I’m smart, I would ask them to keep the 100K over there until this issue is resolved. That way I don’t lose the 100K even if I lose the original 50K.  Why would they put the money from the RV in without knowing how the market will react?  If they do that with Greece still having that hole, they will lose what Greece owes AND the new money.  So they are going through the first part, seeing how the market reacts, and then see what they what Greece does, and cut them out if necessary.
Caller:  [Appreciation]  It’s coming soon, and it will bless everyone.  Vegas, Vegas, Vegas!
512 caller:  Is this thing going to go past the end of Ramadan?
Tony:  I don’t know.  They are watching the markets, and if they don’t go too crazy, then it will go. They want to feel good about the global market before they do this.
410 caller:  After you said about the 48 hour thing, we know we are waiting to hear what Greece does and the reactions to that.  You said that something should come out about that within 48 hours.  Can you put out a tweet about that?
Tony:  You can watch CNN International just like I do and follow what is happening with Greece.  The EU have announced they are not giving Greece any more money.  The banks there will not be open tomorrow because they don’t have any cash!  The Greek PM is going to make a proposal tomorrow.  They are not going to accept that in 24 hours.  I think the Greek people made a mistake supporting their PM, and they will feel it as they have no money in the next few weeks.  I think Greece is heading towards being a third-world country because they wanted to do it their way.  We are not waiting for that situation to be resolved, we are waiting for the global markets to understand that the US, the IMF and EU are not going to give in.  Greek will go through some pain, but that is their choice and there is nothing else we can do about that.
Caller:  That makes it clearer to me, thanks.  Vegas, Vegas, Vegas!
Tony:  They want to feel good about the global markets first. They watched the market last week and today, and nobody is giving Greece any more money.  If the market doesn’t crash in the next few hours, they may get this party started – we’ll see.
863 caller:  Zim?
Tony:  I’ve been told that they moved the zim deadline to September, and I’m seeing the same rates.  I’m not concerned about zim at all.
Caller:  I called one of the dealers about Iranian rials, and they said it is legal to buy from US sellers, but not buying it in Iran.  They said that ebay and Amazon would not be selling unless it’s legal to buy and sell.  What are your thoughts?
Tony: I’m not involved in it and I don’t have any.  You could call the Treasury and ask.  The bank won’t sell it to you unless it’s legal to sell.
775 caller:  I’m up in Reno, and I’m looking forward to meeting in Sacramento.  My daughter lives in Vegas, so I might see you there.  My concern is about how the US currency value being higher and therefore the Euro being lower, isn’t this better for us in the US to have this RV now while the dollar is strong?
Tony:  I want it when the dollar is lower, because I want more dollars.  Right now, the dollar is stronger, but oil prices are lower.  Oil when down because of the whole Iran deal. Iraq needs to set a stable rate, and they want oil prices to be higher. The world is never perfect;  at some point we get it as close as we can, and then we will go.  The US wants this to go now, while we are winning… and now we have this situation in Greece.  The IMF is determined not to give Greece any more money, Germany is feeling like they are being bullies, and everyone is joining a discussion on how to deal with the Greece deal. They are not getting any money today or tomorrow, and Greece will suffer before they get anything.  How long do they make Greece suffer before they give them something?
The world economy doesn’t panic, nor does the market; Greece will suffer, and will get a worse deal because the EU trust them even less.  Then they will get their desired results.
Caller:  I only have dong;  are contract rates still available?   Vegas, Vegas, Vegas!
Tony:  So far as I know, contract rates are still available.
732 caller:  Thanks for the analogy on the Greek situation.  I thought I understood it before and I understand it better now.  Do you think that Greece has a Plan B to go with possibly Russia or someone else and that is why they are being so adamant?
Tony:  I don’t think so, although they might dangle that as a bargaining chip.  All that glitters is not gold;  what you think it happening is not really what’s happening.  Now Greece is turning to Russia, out of the EU?  I don’t see the Greek people aligning with Russia on everything;  I don’t see a Yes vote happening on that.
Caller: The people did vote 60% No, so they did choose where they are at.  Do you see Puerto Rico as a possible Greek situation?
Tony:  I do not;  PR is not being mentioned in any conversation I’ve heard about.
Caller:  I heard a rumor that if you purchased zim after 2014, that won’t be acceptable.
Tony:  I have never heard that.  [And it doesn’t make sense. Currency is currency.]
Caller:  It was just a rumor from outside my currency group;  we were just curious. [Appreciation]  Hope this pops by this afternoon or tomorrow.  Vegas, Vegas, Vegas!
Tony:  We have info coming in.  I’m still in a good place. Things happened over the weekend, mostly in alignment with what we heard last week. We’ll just have to go on with our lives. Things are working out fine with the market today;  they are NOT dropping 200-300 points, so we can go on with what we are expecting.  My only disappointment is that the Iraqi government did not release the coins.  Banks are still in position, with people working over the weekend.  Nobody is upset anywhere.  All the attention is on Greece right now;  when that is done or everyone has a good feeling, we will be up to bat.
Pam:  You know this is real or you wouldn’t be here.  We know the facts, the truth, and don’t have an agenda apart from shagging information with you.  Cut us some slack!
Ray:  This is Marvelous Monday;  let’s see what happens.
Tony:  They are showing us the system is working and things are ready to go. Lives are being changed, and ours will change in the near future.  We have no choice but to feel good and hope/pray every day that it will our day.  We know that Iraq is first in line, and we are waiting for the announcement that they have taken their place in the world, and then it’s our time for this opportunity.  This is not an investment, it’s an opportunity – more like buying a lottery ticket.  We are guaranteed to win, we just don’t know when.  We are closer than ten years ago, or even ten days ago.  The good times are about to roll.  If anything happens we will send out a tweet.  Meanwhile, enjoy your day!

KTFA CHAT UPDATE : NEWS DISCUSSION, 6 JULY

Post From KTFA By FrostyTheSnowman » July 5th, 2015, 10:33 pm  •  

"29 ... 46 ... HIKE!!! ... pass the ball to BackDoc ... and TOUCHDOWN!!!

You called it BackDoc! The media is finally starting to talk about the pesky little issue of FUNDING the US Gov't. before a shut-down. (wink, wink)

After July Fourth fireworks and parades, members of Congress return to work Tuesday facing a daunting summer workload and a pending deadline to fund the government or risk a shutdown in the fall.

The funding fight is shaping up as a major partisan brawl against the backdrop of an intensifying campaign season. Republicans are eager to avoid another Capitol Hill mess as they struggle to hang onto control of Congress and try to take back the White House next year.
~~~
Picture
http://www.foxnews.com/politics/2015/07/05/congress-returns-to-face-busy-agenda-funding-deadline/?intcmp=latestnews


Already they are deep into the blame game with Democrats over who would be responsible if a shutdown does happen. House Speaker John Boehner, R-Ohio, has denounced Democrats' "dangerously misguided strategy" while House Democratic leader Nancy Pelosi of California accuses Boehner and his Republicans of pursuing "manufactured crises."

The funding deadline does not even arrive until Sept. 30, but lawmakers face more immediate tests. Near the top of the list is renewing highway funding before the government loses authority July 31 to send much-needed transportation money to the states right in the middle of summer driving season.

The highway bill probably also will be the way lawmakers try to renew the disputed federal Export-Import Bank, which makes and underwrites loans to help foreign companies buy U.S. products. The bank's charter expired June 30 due to congressional inaction, a defeat for business and a victory for conservative activists who turned killing the obscure agency into an anti-government cause celebre.

Depending on the progress of the Obama administration's nuclear negotiations with Iran, lawmakers could also face debate on that issue. Leading Republicans have made clear that they are prepared to reject any deal the administration comes up with.

Sen. Tom Cotton, R-Ark., said Sunday that Iran "should have faced a simple choice: they dismantle their nuclear program entirely, or they face economic devastation and military destruction of their nuclear facilities."

"It was actually both the fact of sanctions in 2013 and the threat of even tighter sanctions that drove them to the negotiating table," Cotton, a member of the Armed Services Committee, said on ABC's "This Week."

"That's why we shouldn't have let up those sanctions," he added. "We should have insisted on the very simple terms that President Obama himself proposed at the outset of this process. Iran dismantles its nuclear program entirely and then they will get sanctions relief."

Sen. Ben Cardin of Maryland, senior Democrat on the Foreign Relations Committee, said any agreement with Tehran must be "comprehensive."

"It's got to prevent Iran from any steps towards producing a nuclear weapons," said Cardin, also appearing on ABC. "That means you have to have full inspections, you have to have inspections in the military sites. You have to be able to determine if they can use covert activities in order to try to develop a nuclear weapon."

Beyond the issue of Iran, the Senate opens its legislative session with consideration of a major bipartisan education overhaul bill that rewrites the much-maligned No Child Left Behind law by shifting responsibility from the federal government to the states for public school standards.

"We're seven years overdue" for a rewrite, said Sen. Lamar Alexander, R-Tenn, the bill's chief sponsor.

The House also is moving forward with its own, Republican-written education overhaul bill, revived after leadership had to pull it earlier this year when conservatives revolted.

Even if both bills pass, though, it's uncertain whether Congress will be able to agree on a combined version to send to President Barack Obama. Indeed the prospects for any major legislative accomplishments arriving on Obama's desk in the remainder of the year look slim, though there's talk of the Senate following the House and moving forward on cybersecurity legislation.

That means that even though Obama was so buoyed when Congress sent him a major trade bill last month that he declared "This is so much fun, we should do it again," he may not get his wish.

But all issues are likely to be overshadowed by the government funding fight and suspense over how -- or if -- a shutdown can be avoided.

Democrats are pledging to oppose the annual spending bills to fund government agencies unless Republicans sit down with them to negotiate higher spending levels for domestic agencies. Republicans, who want more spending for the military but not domestic agencies, have so far refused. If there's no resolution by Sept. 30, the government will enter a partial shutdown.

It's an outcome all involved say they want to avoid. Yet Democrats who watched Republicans pay a steep political price for forcing a partial shutdown over Obama's health care law in 2013 -- and come within hours of partially shutting down the Department of Homeland Security this year -- claim confidence they have the upper hand.

"Given that a Democratic president needs to sign anything and you need Democratic votes in both chambers, the writing is on the wall here," said Pelosi spokesman Drew Hammill.

Republicans insist Democrats are running a risk by opposing spending bills for priorities like troop funding -- but are not yet discussing how they will proceed if Democrats don't back down.

As a result it looks likely current funding levels could be temporarily extended beyond Sept. 30 to allow more time to negotiate a solution.

And it's not the only consequential deadline this fall. The government's borrowing limit will also need to be raised sometime before the end of the year, another issue that's ripe for brinkmanship. Some popular expiring tax breaks will also need to be extended, and the Federal Aviation Administration must be renewed. An industry-friendly FAA bill was delayed in the House recently although aides said that was unrelated to the Justice Department's newly disclosed investigation of airline pricing.

In the meantime, the presence of several presidential candidates in the Senate make action in that chamber unpredictable, Congress will be out for another recess during the month of August -- and in September Pope Francis will visit Capitol Hill for a first-ever papal address to Congress.

lexi » Question Frosty, do you think they will use the RV/ri for their pawn. In others words waiting till these deadlines to say do what we want then you get the new rate to fund it with?

lexi » I'm thinking yes?                                                              

 mike100 » I want to congratulate Greece for their bravery to stand up to the corrupt bankers and the EU.. hoping this creates a snow ball effect with other countries, the slavery ends here. A new era is approaching. It is time.

 ThunderHawk » Mike, AGREED  :handshake1:   ThunderHawk

Frank26 » Mike,    U N B E L I E V A B L E !!!

Someone finally got it !!!   Yes it is New ... Galactic.   KTFA  Frank

zerb » Battleship Galactica Franky Franky?

Knarf what was the highlight from A L O H A THIS FINE DAY ? Ok I think u just beat me to it!  :rofl:

Why is sunset so early there this time of year? 7:17 pm? Go...7 's

Frank26 » July 6th, 2015, 1:50 am  •  [Post 74]    Zerb, Sky Walker .......... LOL !!!

Highlight of today?.......... Hmmm .......... Praying with ANDY on the PRAYER CC.

Why so early? ............. Due to the Summer Solstice .......June Solstice has the Longest and Shortest Day of the Year. The June solstice is the Summer Solstice in the Northern Hemisphere and the Winter Solstice the Southern Hemisphere.

The date varies between June 20 and June 22. So for now .......... My day is longer than Yours. It's the gyro tilt of the earth in it's rotation.   I think ........  :rofl:    KTFA

sheila » If anyone could answer this I would appreciate it. In the process of the monetary reform for the United States will the America banks be effected like they are in Greece. If they are effected could someone explain how.   sheila   

Frank26 » Of course they will be affected ......... But at what degree? No one knows yet.

As a Power ....... iMO the UDS will not be stripped as much as the others involved with the IMF's roulette table at the moment.   BTW ..... Greece is an easier solution than the UDS.   KTFA                                             

 
 Frank26 » The Advisers Submit Proposals To Amend The Federal Oil And Gas Law To Be Completed Within Two Months

PREMIUM TEAM CHAT members .......... What are the TWO HOT issues with us right now from Thursday CC ?   Ah?????????.......... M and ?   Wink.  KTFA   Frank......... MONDAY CC tomorrow will flow into it.

aggiedad77 » Good Morning Frank and Family  Since no one has made a move on this, I'll take a stab

It would appear M is one and Islamic Banking is the other.....which is believed to lead to the bonds that are coming   If I'm off base, just happily ignore    Aloha  Randy

dustibigelow »  M AND HCL???

Manaolana3 »  BONDS AND CREDIT RATING.

Stranger »  Quote: "HCL is hot because of the Islamic Banking Law" and "Private Sector is also hot along with the HCL" ( I wouldn't post this except Frank said it was ok to post from last Thursday's Team Chat)

aggiedad77 » Family just a quick note on some of the news we are already seeing for Monday......the Federal Court is announcing their stance on certain articles of the 2015 Budget.....as we suspected they are calling them unconstitutional....especially that of Article 50.....

we also are seeing that the Finance Committee is attempting to regroup.....what else to expect from them, their attitude is that of not liking to be told they were out of bounds in what they attempted....

maybe they will learn a lesson from all this....but then hard boled Maliki's, I mean eggs are sometimes difficult to break....LOL.
More to come later after I get a few errands accomplished this morning.  Aloha  Randy  

powerofprayer » Backdoc, The recent Chinese Stock Market slump isn't that due to hackers attacking their vulnerable system? Just something I read somewhere.

rv9586rl » Question Anyone: Is there any chance that China could be come the Reserve Currency of the world, when the Global Currency Reset occurs?

They are buying lots of Gold. Thank you. Viola

Walkongstick    Iraq to tap retail investors in $5 bln domestic bond offer

DUBAI, JULY 6 | BY HADEEL AL SAYEGH

http://www.mawazin.net/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D8%B5%D8%AF%D8%A7%D8%B1-%D8%B3%D9%86%D8%AF%D8%A7%D8%AA-%D9%85%D8%AD%D9%84%D9%8A%D8%A9-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-5-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AF%D9%88%D9%84%D8%A7%D8%B1/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9

aggiedad77 »   Good Morning again Family, I am back from running errands and before I jump into the news summaries for today I wanted to "EXTRA" highlight something that WS has already pointed you to....and just make sure you see it and grasp the gooderness from it....at least in my opinion.....

all this talk about bonds....domestic and international....but first to be teed up looks like domestic bonds....to be denominated in USD....but payable upon maturity in what.....

your choice USD......OR.....IQD.....at what....at a rate more attractive or lucrative than the CURRENT MARKET RATE....sink your teeth in to a nice juicy tender steak there and enjoy.

 I'm liking the sound of things to come.  Thanks for bringing this WS and your time to highlight sir....you were missed.   Aloha   Randy

DINAR GURUS UPDATE, 6 JULY

7-6-2015   Intel/Newshound Guru Poppy3  moment by moment, minute by minute we inch closer and closer.  THE NEWS [GURU]  MILLIONDAY CONTINUALLY BRINGS HAS AND CONTINUES TO PAINT THE PICTURE OF OUR STATUS FOR ALL OF US WHO READ EVERY WORD.  

7-6-2015   Newshound Guru Millionday
   Article quote:  "The al-Maliki trial today has become an urgent necessity..."   [My question would be once the trail starts will Maliki be arrested and put behind bars?]  I DONT KNOW.  I KNOW HIS RESUME` LOOKS BAD.  WE WILL ALL HAVE TO WATCH TO SEE WHAT THEY DO WITH HIM.  [Do you think the trial will delay the MR?]   NO -- THE TRIAL WILL NOT DELAY THE REFORMS -- IT WOULD NOT HAVE AN IMPACT AT THIS POINT AND WITH HIS POSITION IMO.

7-6-2015   Newshound/Intel Guru BGG
  [things have sure never been this exciting...]  I would agree - can't say it means an immediate RV - but it is sure getting exciting...
7-6-2015   Intel/Newshound Guru 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... 

7-6-2015   Newshound Guru OOTW
    ...PARLIAMENT PUT OUT A PRESS RELEASE...THAT THEY'RE ADDRESSING THE CONTENTIOUS ISSUES ON THE NATIONAL GUARD LAW - THEY GAVE NO TIMELINE IN THE OFFICIAL PRESS RELEASE - THEY'RE WORKING ON IT.  THERE'S NOTHING STATING AT THE PARLIAMENT SITE THAT I CAN SEE RIGHT NOW, THAT SAYS THEY'RE WAITING UNTIL AFTER EID TO PASS LAWS.  MASSUM CAME OUT YESTERDAY AND SAID HE WAS GOING TO GIVE JOBOURI THE RIGHT TO PASS LAWS NEEDED FOR NATIONAL RECONCILIATION, INCLUDING ECONOMIC REFORM... MASSUM HAS GIVEN JOBOURI THE POWER TO PASS LAWS...

7-6-2015   Newshound Guru sczin11
   PARLIAMENT OFF FOR 2 WEEKS.  [ I thought parliament just got back...?]   THEY DID, 4 days FOR THEM, IS A MONTHS WORK...THEY NEED TO REST NOW.  IMHO, LOTS AND LOTS IS HAPPENING...MOST WE ARE NOT PRIVY TO, AND WONT BE, UNTIL IT HAPPENS...
7-6-2015   Newshound Guru wmawhite
    CNN...did a big piece on Maliki this morning. Tied together Maliki's failures to the rise of ISIS...and now we see more and more press about Maliki and the movement towards criminal charges tells me that europe/USA are telling the Sunni Tribal Leaders that true change is here...and there is so much more afoot...happening that is good for us.

7-6-2015   Newshound Guru Millionday
   Article:  "Announced Rafidain Bank, announced the launch of banking cooperation with the International Foreign banks initiative. RAFIDAIN BANK HAS ANNOUNCED THEY ARE MOVING FORWARD WITH INTERNATIONAL BANKING RELATIONS -- HUGE NEWS.  THIS IS AN IMPORTANT STEP PER THE FOREIGN REMITTANCE SYSTEM.  [isn't internationally recognized a requirement for this?]  IT COMPLETELY DEPENDS ON WHAT AGREEMENT THEY HAVE SET UP TO BEGIN -- THIS IS THE BEGINNING ACCORDING TO REPORT AND A HUGE ANNOUNCEMENT BUT THEY ARE NOT THE ONLY ONE THAT SHOULD BE MAKING THIS ANNOUNCEMENT.  [Any idea as to when this is to start or has it started?]  TO ENTER GLOBE -- THEY HAVE TO HAVE INTERNATIONAL EQUATION ACCORDING TO WORLD ECONOMIC LOGIC --- SO THIS IS A HUGE BEGINNING OF SOME GREAT NEWS IMO. NO DATE GIVEN.

POPPY3 & MILLIONDAY TIDBITS, 6 JULY

7-6-15 Poppy3: Moment by moment, minute by minute we inch closer and closer. THE NEWS MILLIONDAY CONTINUALLY BRINGS HAS AND CONTINUES TO PAINT THE PICTURE OF OUR STATUS FOR ALL OF US WHO READ EVERY WORD.

7-6-15 Millionday: Article quote: "The al-Maliki trial today has become an urgent necessity..." [My question would be once the trail starts will Maliki be arrested and put behind bars?] I DONT KNOW. I KNOW HIS RESUME` LOOKS BAD. WE WILL ALL HAVE TO WATCH TO SEE WHAT THEY DO WITH HIM. [Do you think the trial will delay the MR?] NO -- THE TRIAL WILL NOT DELAY THE REFORMS -- IT WOULD NOT HAVE AN IMPACT AT THIS POINT AND WITH HIS POSITION IMO.