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Saturday, July 11, 2015

"Irans's Day Bank Joins Swift!" Chat from My Ladies and Friends Saturday Afternoon, 11 JULY

3:37:24 PM] MY LADIES: YOOOOO HOOOOOO NOVA....ARE YOU HERE????? I HAVE SOME NEWS.....CAN I GET A DRUMROLL PLEASE!! BIG NEWS HERE!!

Iran’s Day Bank joins SWIFT

http://www.presstv.ir/Detail/2015/07/11/419804/Irans-Day-Bank-Joins-SWIFT

Iran’s Day Bank announced on Saturday that it has officially joined the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

This was announced at an official ceremony held at Day Bank headquarters in Tehran.

DZ:
 So Iran is now able to play with the bigboys?

Rocket Rich:
 International Iran.  Nice!
....
 
NF: I can't wait to see the one that will come out for Iraq!

sixstringsally:
 Holy Moly

MY LADIES: SO ALL THE NEWS OF STALLS AND SANCTIONS HOLD UP IS JUST CRAP!!!!!!!!

Princess DD
: Thats great news! You suspected it was done already. It sure does seem like it. (clap)

MY LADIES: NOW LOOK HERE IRAN HAS BEEN MEETING OFFICIALLY AND UNOFFICIALLY WITH SWIFT SINCE APRIL

NOW WITH NO FAN FARE OR BLOOMBERG OR REUTERS OR FOX NEWS THEY HAD AN OFFICIAL OPENING CEREMONY WITH THE WORLDS LARGEST PAYMENT SETTLEMENT SYSTEM

NO FAN FARE NO NOTHING THEY JUST TURNED ON THE SWITCH WHILE THE REST OF THE WORLD IS WATCHING THE NUCLEAR DEALS TALK ABOUT STALLS.

NOW I'M GOING TO TELL YOU THIS RIGHT NOW, THIS IS EXACTLY HOW IT WILL HAPPEN IN IRAQ, THEY WILL TURN ON THE SWITCH AND THEY WILL BE CONNECTED AND THAT WILL BE THAT
.

MY LADIES: SO THIS CAN LITERALLY HAPPEN AT ANY TIME...ANY TIME....THIS IS DONE NOW...DONE DONE DONE AND THEY ARE NOT TELLING US...I HAD TO GO TO TEHRAN TO FIND IT.
JP: According to the CC last night, Iraq can’t be far behind.

Princess DD: WOW that is awesome!! (party)

IQD NOVA:
 PEOPLE THIS IS FLIPPIN HUGE!!!!!!!

AW:   I just have to ask this question.....lol......How far down the road are they this all of this????

Farhad: It also means what Netanyahu and/or US congress think or may do is irrelevant!!

AW:   Mary/NOVA............and where are all of the experts that would cover this.......on a Saturday???? Not in the office or on the TV set.................they are probably on the links or sitting at home.

MY LADIES UPDATE: CONFERENCE CALL, 11 JULY

MY LADIES:  HELLO EVERYONE, AS SOME OF YOU MAY BE AWARE OF OUR PRIVATE ROOM STUDIES MANY THINGS AND AROUND THE GLOBE NOT JUST IN IRAQ.

WE KNOW FOR AN ABSOLUTE THAT THE DINAR WILL TRADE AGAIN ONE DAY.

WE ALSO TALK ABOUT GLOBAL CURRENCIES AND MONETARY POLICIES AND WHAT CHANGES AR COMING RIGHT HERE AND RIGHT NOW THOSE WE ARE WATCHING EVERYDAY.

IT IS DIFFICULT TO EXPLAIN ALL OF THIS IS WRITING SOMETIMES EVEN THOUGH RECAPS SHARES OUR CHAT WITH YOU ALL IT CAN BE A BIT MUCH TO DIGEST IN PRINT.


SO WE THOUGHT SOME OF YOU MIGHT APPRECIATE US RELEASING OUR CALL FROM LAST NIGHT BECAUSE WE COVERED SO MUCH... IT WAS A GOOD CALL
REMEMBER PLEASE THIS WAS ONLY MEANT FOR OUR ROOM SO IF YOU DISAGREE WITH ANYTHING SIMPLY HANG UP AND MOVE ALONG. BUT IF YOU ARE TO SEE THE MOVING PIECES AFTER YOU LISTEN AND FEEL GOOD ABOUT THE DINAR PLEASE LET US KNOW.

WE ARE HAPPY WHEN WE CAN BRING SOME SANITY INTO THIS CRAZY RIDE.


SO HERE YOU GO

THE DIAL IN NUMBER TO LISTEN IS: 712-775-7039 AND THE PIN# IS 637708#


OR THE LINK IS:

https://www.freeconferencecallhd.com/playback_breda.html?n=DnyJW/dP3Mc


I HOPE YOU ENJOY AND DON’T MIND THE FRIENDLY BANTER BACK AND FORTH…LOL..

LOVE TO ALL

MY LADIES , NOVA AND COMPANY

EXCERPT OF MILLIONDAY, 11 JULY

Millionday:Article quote:  "Committee announced its oil and parliamentary power, on Friday, sending request "urgent" for the Speaker of the House for a meeting between officials from the Kurdistan Regional Government and the federal government in the presence of representatives of the parliamentary parties to activate the oil agreement between the two sides"   

WE HAVE AN UPDATE ON THE OIL AGREEMENT BETWEEN ERBIL AND FEDERAL IRAQ.  THE COMMITTEE HAS REQUESTED FROM KURDISTAN AN URGENT MEETING TO ACTIVATE THE OIL AGREEMENT...THIS AGREEMENT INCLUDES OIL EXPORTING AND PAYMENTS THAT HAVE NOT BEEN MADE...   HUGE TO ME THAT IT IS URGENT THEY MEET RIGHT AWAY TO ACTIVATE THE AGREEMENT SO FAST WHEN AGREEMENT WAS JUST MADE -- WHOOPOW.  ONE THING WE HAVE NOTICED IS THE MANY ECONOMIC THINGS THAT ARE EXPECTED THIS MONTH -- JULY “…

the fiscal and monetary authorities in Iraq now that is seriously considering (and bravely) adjust the exchange rate of the Iraqi dinar and including in line with the real price for the operation of the economy and the productive sectors, we know that it will be at the expense of all of our dreams strongly Iraqi dinar, which was worth US $ 3.33…”  THIS IS...TURKI TALKING ABOUT THE DREAM

CAL POST FROM TNT :Things to watch for in the coming days, 11 JULY

1) Amnesty is huge as I have told you in many of my news letters and will continue to tell you. Many have said they will not fight the battle for Mosul without Amnesty, they are about to start the battle, so is amnesty now done? Iraq has said a final vote is coming next week.

2) When we hear that those F16s finally being sent over from Arizona USA

3) When Maliki is gone (ICC is about to arrest him, Abadi already told Dowa party to find another candidate for his VP position, Maliki was given to July 8th to resign or take the hard road, it’s now July 11th. We await for the news.

4) First payout of HCL money to Iraqi citizens (finance ministry said they would do it in the June/July timeframe, it is July 11th already)

5) Completion of the decentralization plan by August 6th (must get the final vote on the Federation Council and get these provincial National Guard units established). Their date not mine.

DINAR GURUS UPDATE, 11 JULY

7-11-2015   Newshound Guru Millionday   “…the fiscal and monetary authorities in Iraq now that is seriously considering (and bravely) adjust the exchange rate of the Iraqi dinar and including in line with the real price for the operation of the economy and the productive sectors, we know that it will be at the expense of all of our dreams strongly Iraqi dinar, which was worth US $ 3.33…”  THIS IS...TURKI TALKING ABOUT THE DREAMS OF HOW STRONG THE DINAR COULD BE -- THIS IS DATED JULY 8TH  STATING IT WAS WORTH $ 3.33 --- SMILE.

7-11-2015   Newshound Gurus OOTW & sczin11  
 FLASHBACK:  FEBRUARY 2015 - ZEBARI ANNOUNCES THAT IRAQ WILL SEEK TO APPROVE LEGISLATION TO GAIN FATCA (US TAX COMPLIANCE STANDARDS) BY SEPTEMBER 15, 2015.  NOT MUCH NEWS ON THIS SINCE FEBRUARY....UNTIL TODAY!   Article quote:  "The House of Representatives awaiting the arrival of a draft law to join Alfatyka agreement, by the Iraqi Central Bank, which considered and prepared for discussion, in order to vote on them."  SO WHAT WE HAVE HERE IS AN ARTICLE STATING THAT THIS LEGISLATION IS TO BE DISCUSSED WHEN THE PARLIAMENT RETURNS FROM THEIR EID/FEAST.   THIS MEANS THEY ARE EXPECTING INVESTORS FROM THE USA AND ARE WILLING TO COMPLY WITH USA TAX REPORTING LAWS.  FOLKS THIS IS HUGE.

7-11-2015   Newshound Guru Millionday
   Article quote:  "Committee announced its oil and parliamentary power, on Friday, sending request "urgent" for the Speaker of the House for a meeting between officials from the Kurdistan Regional Government and the federal government in the presence of representatives of the parliamentary parties to activate the oil agreement between the two sides"   WE HAVE AN UPDATE ON THE OIL AGREEMENT BETWEEN ERBIL AND FEDERAL IRAQ.  THE COMMITTEE HAS REQUESTED FROM KURDISTAN AN URGENT MEETING TO ACTIVATE THE OIL AGREEMENT...THIS AGREEMENT INCLUDES OIL EXPORTING AND PAYMENTS THAT HAVE NOT BEEN MADE...   HUGE TO ME THAT IT IS URGENT THEY MEET RIGHT AWAY TO ACTIVATE THE AGREEMENT SO FAST WHEN AGREEMENT WAS JUST MADE -- WHOOPOW.  ONE THING WE HAVE NOTICED IS THE MANY ECONOMIC THINGS THAT ARE EXPECTED THIS MONTH -- JULY.

7-11-2015   Newshound Guru tlm724
   Article: "Government intervention of the World Bank as a partner in the formulation of the budget in 2016"  Quote:  "adding that" the World Bank agreed to grant the loan in exchange for conditions related to conduct real administrative and economic reforms in the government system, now that is big! The World Bank says yeah we will loan you the money BUT we want in on formulating and implementing the economic plan!  I like that very much! Very Happy

7-11-2015   Newshound Guru sczin11
  HERE IS THE BOTTOM LINE, IMHO...IF THE SECOND WAVE OF BOND ISSUANCE, AS THEY HAVE DESCRIBED, DOES IN FACT OCCUR TWO POINTS SHOULD BE REALIZED...THE FINANCIAL INSTITUTIONS WORLDWIDE WOULD RECOGNIZE THE IRAQI DINAR AND THE CREDIT RATING SHOULD BE ISSUED BY THE THREE MAIN REPORTING AGENCIES.  THE FIRST WAVE IN COUNTRY, IMHO, DOES NOT REQUIRE OR IMPLY THE COMPLETION OF THE ABOVE TWO POINTS.

7-11-2015   Newshound Guru Kaperoni
   Article:  "Parliamentary economy expect difficulties in the application of tariffs next month  No doubt that there will be backlash.  The same issues a year ago, a month ago still apply today.  So we have to hope despite the few who are trying to hold Iraq back, the GOI will be able to implement and enforce tariffs.  This is a tough one to overcome, but needed for the economy.

MY LADIES CHAT UPDATE, 11 JULY

MY LADIES:  IF YOU WOULD LIKE TO KNOW SOME MORE ON SAUDI AND ISRAEL’S ROLE IN THE MIDDLE EAST YOU CAN READ IT HERE. YOU WILL NEVER SEE ANYTHING CONTROVERSIAL ABOUT ISRAEL OR SAUDI IN OUR MAIN STREAM NEWS, THEY PAY TOO MUCH MONEY TO NOT HAVE THEIR DIRTY LAUNDRY AIRED HERE.

I DON’T WANT TO GO TO FAR INTO THE WEEDS BUT HERE IS WHY WE SAY WHAT WE DO ABOUT SAUDI.

*Politics*

http://www.presstv.ir/Default/Section/10101

[3:15:13 PM] - Lisa -: Reading through all the Iran articles and Mary’s take on them, I had an analogy come to me.  Iran has notoriously been known to be a ‘bully’ to the world.  So, how does one become a bully?  By being bullied first,
....
Iran grew into a monster by creating a nuclear defense and threat to the world.  What happens when grace and acceptance is offered to the ‘mean’ one?  Do they change their tune?

I can’t help but wonder if by ALL ‘kids’ being allowed to play on the same block (same economic playing field), if we aren’t ushering in a kinder, gentler world?

The last holdout seems to be the USA wanting to retain power and stubbornly trying to retain “the big bullying system”, but it will be to no avail.  The evolution of the news is offering me hope over and beyond what the outcome of this investment will bring. (F)

[3:21:48 PM] MY LADIES: WELL LISA YES YOU HAVE IT RIGHT SORT OF. IRAN WAS THOUGHT OR PERCEIVED TO BE THE BULLY, BUT WHY?? WHICH CAME FIRST???

IRAN REFUSED TO GIVE IN AND REFUSED TO COME TO WESTERN THINKING AND STILL DOES. EVEN IN THESE TALKS THEY SAY YOU CAN NOT JUST YELL THE LOUDEST IT DOESN’T WORK.

YOU CAN NOT TAKE A PROUD NATION THAT CHERISHES AND SHARES MANY IDEALS AS THE EAST DOES AND TELL IT TO JUST BEND OVER. AND PUSH YOU WAY OF THINKING ONTO THEM AS WE HAVE SEEN ALL THROUGH OUT THE MIDDLE EAST. AND HONESTLY HOW HAS THAT BEEN WORKING OUT SO FAR??

LIVE AND LET LIVE AND DO IT TOGETHER IS GOING TO BE THE NEW MOTTO I THINK.

[3:16:27 PM] socksmom :: Hey Mary ... The publicity of Greece's exit from the EU followed almost immediately by the lifting of sanctions on Iran sure would provide a lot of great 'cover' (translation: diversion) to Iraq's Monetary Reform (currency's re-entry to the international trade stage), would it not?

[3:22:52 PM] MY LADIES: YES SOCKS IT REALLY WOULD BUT I'M NOT SURE THEY NEED A DIVERSION OR A COVER I THINK THEY ARE JUST GOING TO DO IT AS A MATTER OF POLICY.

[3:26:07 PM] AW: : Mary, here is a question for everyone.............why do we believe that Iraq's Monetary Reform will need "cover"? Instead, shouldn't Iraq want the publicity of the Central Bank re-entering the world currency markets? I do not understand why Iraq would want this to be a secret. Does it come from the left over Guru Nation that told everyone that we are not to benefit from this and it has to be kept quiet? Your thoughts?

[3:32:27 PM] MY LADIES: I DON'T ALAN..I THINK IRAQ WILL JUST POST THE NEW TRADE PRICE ON THEIR CBI AND CALL IT A DAY.

[3:28:43 PM | ] socksmom :: I would agree with that, Alan.  I just think in our country they will be directed to downplay any discourse with regard to the return on the investment here in this country ... ('they' being the talking heads)

[3:30:25 PM |  AW: Socks...........in regards to this country I agree because there will be "hell" to pay by some of these banks telling their employees "its a scam". Can you imagine the number of "ticked off" people walking around some of these banks?

[3:30:49 PM] - Lisa -: Thanks for your response Mary.  You're so right in that you can't take such diverse cultures as ours and the middle east, and expect them to submit and comply with the control tactics our nation has imposed on the world for so long.  I like the "LIVE AND LET LIVE AND DO IT TOGETHER" motto.  I hope this is the case!

[3:34:07 PM | MY LADIES: AGAIN I DISAGREE SOCKS, I THINK THIS IS ALL GURU CRAP A NELLA AND WHAT WILL HAPPEN IS THE BANKS WILL SEE IT ON THEIR EXCHANGE SCREENS AND MOST WILL NOT EVEN BLINK AN EYE.

NOW THE VOLUME OF THE DEPOSITS WILL BE ANOTHER STORY ALL TOGETHER. BUT THERE WILL BE NO NEED TO DOWNPLAY ANYTHING AFTER THE FACT

 [3:36:07 PM] MY LADIES:  ALAN WHEN YOU TAKE THE NUMBER OF BANKS THAT HAVE SAID IT WAS A SCAM AND SPREAD IT OUT FROM THE EAST COAST TO THE WEST COAST AND THE CANADIAN BORDER TO THE MEXICAN BORDER I THINK IT WILL BE A NON ISSUE.

**********

*Iran in talks with ‘biggest FLNG company*

http://www.presstv.ir/Detail/2015/07/09/419510/iran-flng-gas-exports-sanctions-kameli

MY LADIES:  WE NEED TO LOOK BEYOND THE OBVIOUS. JUST READ ALL THESE DEALS THAT ARE IN PLACE. THERE ARE BILLIONS AND BILLIONS AND BILLIONS OF DOLLARS AND HUNDREDS OF COUNTRIES.

THEY DID NOT GO THROUGH ALL OF THE SETTING OF THESE DEALS IN PLACE TO WALK AWAY NOW BECAUSE OF SANCTIONS TALKS ARE NOT WORKING.

I STILL HAVE SOME SNOW IN THE CRYSTAL BALL BUT I THINK VERY SOON VERY NOW SOON WE ARE GOING TO SEE THE CHANGE.

Iran is in talks with the biggest floating LNG company for production of liquefied natural gas, head of the National Iranian Gas Company Alireza Kameili said on Thursday.

The company, which he did not name, will come to Iran “immediately” after sanctions are lifted on the Islamic Republic.

“Due to their high economic viability, Iran is moving in the direction of building FLNG plants,” Kameli said of a process which involves floating production of LNG above an offshore natural gas field, with liquefaction, storage and transfer all carried out at sea by a special ship.

Kameli said talks also continue with many foreign parties for sales of the Iranian gas. “Currently, preliminary negotiations are underway with more than 170 foreign companies which are keenly prepared to receive gas from Iran.”

MY LADIES:  NOO NOO THIS IS TOO BIG TO BE THWARTED BECAUSE THE US IS MAKING TALKS DIFFICULT.

WHY DOES IRAQ HAVE TO COME OUT OF ISOLATION???

*Report: Iran gas exports to Iraq delayed*

http://www.presstv.ir/Detail/2015/06/27/417724/iran-iraq-gas-exports-pipeline

HIGHLIGHTS ONLY YOU CAN READ THE REST

Iran is ready to begin exports but some “minor problems” are preventing the start of the gas flow to Iraq, the source said.

“Under the current circumstances, it is hard to set a precise date for the exports but the Iranian gas will be definitely sent to Iraq this year,” the source said.

Last month, director of the National Iranian Gas Company Hamid Reza Araqi said there were also a series of contractual issues about the Iraqi payment which the two sides were discussing to clarify.

“Given that we are currently under sanctions, the mode of receiving the money for the exported gas is very important to us,” he said.

Tehran and Baghdad have turned to close allies from staunch enemies under the former dictator Saddam Hussein who commanded a war between the neighbors for eight years in the 1980s.

On Thursday, Iran’s Minister of Roads and Urban Development Abbas Akhoundi traveled to Basra to begin the construction of a rail track to connect the Iraqi city with Iran’s Khorramshahr.

The line will connect the two countries’ railways, opening a new route to link Iraq with the much-coveted Silk Road and Iran to the eastern Mediterranean.

IRAQ IS IN THE MIDDLE OF THE SILK ROAD. IRAQ IS ALSO LOOKING TO THE EAST AS A WAY OF DOING THINGS, I BROUGHT THAT ARTICLE IN LAST NIGHT.

YES MY FRIENDS WE ARE ON THE WAY, ALL OF THIS IS SCHEDULED FOR THIS YEAR.

====================

MY LADIES  OK GOOD MORNING EVERYONE

OK SO THAT WAS A VERY GOOD CALL LAST NIGHT. IT WAS VERY VERY INFORMATIVE AND EXCITING.

WE TALKED ABOUT THE SILK ROAD AND IRAQ AND NOW YOU BROUGHT IN PLENTY OF ARTICLES FOR IT.

PrincessDD:  US beating drums of war against Russia to increase European defense spending'

http://rt.com/op-edge/272863-russia-threat-us-james-dunford/

MY LADIES:  SO DO WE WANT TO START THERE?? OK   I HAVE SOME SOME THINGS ON IT TOO THAT ARE NOT IN THE EXTREME...SO HOLD ON AND WE'LL START WITH THIS.

I AM NOT SAYING IT'S WITH OUT MERIT, I'M JUST SAYING IT'S TO THE EXTREME AND THE DOOMS DAY SCENARIO IS NOT ONE I LIVE IN.

WE CAN MAKE THE POIINT AND GET THE INFO WITH OUT THE SKY FALLING CHICKEN LITTLE

PrincessDD:  Is this a better source?

Pentagon Concludes America Not Safe Unless It Conquers the World

The “threat” the Pentagon identifies is the existence of sovereign states who act independently of Washington.

http://www.foreignpolicyjournal.com/2015/07/10/pentagon-concludes-america-not-safe-unless-it-conquers-the-world/

Dale:  its simply stating that Washington thinks they can interfere w sovereign nations because Wn knows best…has been doing this for years…their moto’  “War makes us safe”

MY LADIES:  LET'S TALK ABOUT IT, THIS WAS THE WHOLE CALL ABOUT THE USA BEING THE BULLY SO LET'S ADDRESS IT

OK LET ME GET ALL THE ARTICLES IN ONE PLACE ABOUT THIS TOPIC AND WE CAN START

Pentagon Concludes America Is Not Safe Unless It Conquers The World. US Plans War against Russia.

http://www.globalresearch.ca/pentagon-concludes-america-is-not-safe-unless-it-conquers-the-world-us-plans-war-against-russia/5461706

Dale:  here is the original source, from PCR’s own site: http://www.paulcraigroberts.org/2015/07/10/pentagon-concludes-america-safe-unless-conquers-world-paul-craig-roberts-3/
MY LADIES:  Pentagon Concludes America Is Not Safe Unless It Conquers The World. US Plans War against Russia.

http://www.globalresearch.ca/pentagon-concludes-america-is-not-safe-unless-it-conquers-the-world-us-plans-war-against-russia/5461706

The document announces a shift in focus from terrorists to “state actors” that “are challenging international norms.” It is important to understand what these words mean. Governments that challenge international norms are sovereign countries that pursue policies independently of Washington’s policies.

MY LADIES:  WE TALKED ABOUT THIS LAST NIGHT, ESSENTIALLY THIS IS WHAT BRICS IS ALL ABOUT, THE USA WANT TO BE THE BIG KID IN THE SAND BOX AND THAT IS NOT ACCEPTABLE ANYMORE.

Be sure to grasp the point: The threat is the existence of sovereign states, whose independence of action makes them “revisionist states.”  In other words, their independence is out of step with the neoconservative Uni-Power doctrine that declares independent action to be the right of Washington alone.

MY LADIES:  IN THE SIMPLE EXPLANATION  “BULLY SYNDROME”

The Pentagon’s report defines the foremost “revisionist states” as Russia, China, Iran, and North Korea. The focus is primarily on Russia. Washington hopes to co-opt China, despite the “tension to the Asia-Pacific region” that China’s defense of its sphere of influence causes, a defense “inconsistent with international law” (this from Washington, the great violator of international law), by turning over what remains of the American consumer market to China.  It is not yet certain that Iran has escaped the fate that Washington imposed on Iraq, Afghanistan, Libya, Syria, Somalia, Yemen, Pakistan, Ukraine, and by complicity Palestine.

Kurdistan region looking to conclude a new oil deal with Baghdad, 11 JULY


  • Fri, 10 Jul 2015 10:22:40
    BAGHDAD / News Today
    Chairman of the Oil and Gas Committee in the House of Representatives Arazaabd God announced that he is likely to meet officials from the federal government and the Kurdistan Regional Government in order to reach a new oil agreement.
    Abdullah said, "It is likely to be terminated the previous agreement with Baghdad and the holding of a new agreement in which the region is required Kurdistan oil independently sale," explaining that "the Kurdistan Regional Government has decided that, but it is legal and international point of view, Iraq will not accept that it is certainly will cause a problem in Kurdistan oil independently sale, by discussing it with Turkey to prevent the export of oil of Kurdistan, or through the sale of oil or more pressure companies to the Kurdistan region. "
    Kurdish lawmaker added that "the strongest possibility, is meeting officials in the federal government and the Kurdistan Regional Government, and to reach a suitable agreement, or the introduction of the previous agreement provided that it is in the interests of the Kurdistan Region and Iraq."
    Chairman of the Commission on oil in the Iraqi parliament said that "the Kurdistan Regional Government and from the beginning of this month has not received any amount of oil, to the federal government or SOMO," explaining that "the Kurdistan region has independently sold 149 thousand barrels of Kirkuk last month , but the amount of it was through the Sumo, while oil sold this month independently and without reference to Baghdad. "
    Ares Abdullah pointed out that "the Commission on oil and energy parliamentary decided to host the Ministers of Finance and the oil in the federal government and the ministers of natural and financial resources in the Kurdistan Regional Government in order to calm the situation."

    translate.googleusercontent.com/t...xB5n7owJVg
  • OPINIONS OF Backdoc & ThunderHawk , 11 JULY

    AD-LIB THE BLUNDERS of SETUPTEMBER and OPTOBER

    WITH SALARIES TO BE PAID JUST AROUND THE CORNER OF RAMADAN IN IRAQ, A NEGOTIATED GREXIT ON THE ROCKS, AND BILLIONS OF BARRELS OF BLACK GOLD BEGINNING TO LEAVE IRAN FOR A NEW WORLD HOME, THE MARKETS WILL BATTLE IT OUT COME SEPTEMBER.

    AS THE OLD FIAT FISCAL YEAR LEAVES IN SEPTEMBER, A NEW BEGINNING AWAITS THE COUNTRY AND THE WORLD. GLOBAL TRADE WILL RESHAPE THE FINANCIAL WORLD. WHO WILL WIN THE MOST OR LOSE THE MOST?

    IT MIGHT BE A BEAR AND THAT’S NO BULL!!    SLAP! OH SORRY! IT MIGHT BE CHALLENGING, THERE THAT’S BETTER!!!

    THE OPTIONS WILL BRING US TO OCTOBER WITH AN UNSIGNED U.S. BUDGET. THE REPUBLICANS ASK WHETHER OBAMA LOVES THEM OR LOVES THEM NOT. WILL HE LOVE THEM AND SIGN THE BUDGET INTO LAW OR WILL HE CAUSE A GOVT. SHUTDOWN? MMMMM

    HE LOVES THEM HE LOVES THEM NOT, MMMMM

    THIS NEW FISCAL YEAR IS GOING TO BE INTERESTING. IS THAT WHEN A NEW GLOBAL REALITY VALUE FINDS THE NEW ASSET BACKED DOLLAR? MMMMM

    OPTOBER HAS SO MANY OPTIONS !! LOL

    WHEN THE DOLLAR ADJUSTS TO THE REST OF THE WORLDS CURRENCIES I EXPECT A 40 TO 50 PERCENT DROP.

    I KNOW IM DING DONG DOC BUT IF IT DROPS THE OTHERS GO UP!! PHEW !! GLAD I'll BE STILL HOLDING ON TO MY CURRENCIES UNTIL AFTER THE NEW FISCAL YEAR!!
    JUST DING DONG DOC AND DR. THUNDER HAVING SOME FUN IN OUR CRAZY OPINIONS!! LOL

    DOC AND THUNDER  IN OUR OPINIONS 

    DINAR IRAQ & DONG VIETNAM MORE UPDATES, 11 JULY

    Dinar Iraq and Dong Vietnam :Most of us who have been following the currency status for many years now, realize that the American Dollar is on its way out as the sole world’s reserve currency while a basket of currencies in new Special Drawing Rights (SDR) consists of USD, Euro, Yuan, Yen, Pound Sterling will officially be taking its place shortly.
    The BRICS Bank (Brazil, Russia, India, China, South Africa) has been in the making for many years now and it is about to take its position on the world stage.

    This will facilitate the transition for a Global Currency Reset (GCR) where currencies will be revalued according to the countries’ assets of gold, silver, and natural resources.

    Many currencies like the Vietnam Dong, Iraq Dinar, Indonesian Rupiah, Iranian Rial, Yuan, and others are projected to gain more purchasing power against others currencies which are anticipated to lose its purchasing power due to the deliberate mismanagement of the country’s economy.

    STEVE UPDATE, 11 JULY

    Stevel:   This was provided to me by one of our great members that follows this and the ISX very closely. He has provided me with some very powerful articles in the past and this one gave me a big smile. :)

    Exceptional Crisis Had To Be Exceptional Decisions

    Dr. Abdul Basit Turki al-Hadithi

    It is obvious that the fateful decisions in the life of peoples and nations to be more daring and mature when they are taken in the light of the discussions calm and under normal conditions, especially if combined with the broad participation of the owners of jurisdiction and stakeholders in these decisions.

    It goes without saying also that the presence of crises and intensification reduces the opportunities for expansion in the involvement of the public drafting of decision-making and therefore highlights the efficiency of the decision-maker and his boldness,

    and when the absence of available alternatives, the decision maker searching for crucial treatments were not from data cope with the crisis, it is true that a high degree but the risk of a historical crossroads in the life of peoples and nations.

    Iraq used to handle its crises through financial abundance, whether or gifts and bribes for layers and slides under the primitive state in social institutions with marginal engine class dimension in which the mechanisms of the process.
    ~~~
    And continued financial abundance in identification in the absence of regulation of the middle class and the dispersion in Iraq between the beneficiaries in the project other than the project and those who live on the crumbs hoping to allow better his opportunities, and continued in power since equally profit in 1952 between the ebb and flow in the ability to play this role and was its ability to limit the two factors that the financial abundance (oil) and their ability repressive ruling authority. 

    After 2003 and witnessed the social fabric in Iraq from tearing and witnessed by the State Administration of re-focused on the new names (quotas, sectarianism, partisanship …. etc), were all co-exist under the financial abundance with the Authority,

    it doubled the size of the general budget within ten years to more than five times and became the number-makers economic decisions, not only in government but in every society some tremendous and mixed capital Political already (Civil him and armed) is disgusting,

     it was all real crises were enough in any of the communities to create tens of uprisings or revolutions, but the continuing horror of repression not even in the consciousness of citizens, with the financial maneuverability, and the presence of external factor (occupation, penetration, presence of intelligence) all that malfunction subjective factors to change.

    No longer for Iraq to rebuild their society first, and their own second, but the other and accept the language of dialogue no matter what we disagree with him, actually imposes that it is not advice utopian,

    the crisis revealed weaknesses killer in the country and so we hope to contribute to what we believe it signals may be that the maker finds bold decision opportunity to save what can be saved and perhaps for rebuilding a more efficient and proudest.

    Most of those interested agree the Iraqi economy on the Iraqi economy complain of structural imbalances not Adelha of unilateral economic resource and waste of economic resources and lack of resolve to choose economic way in the building (everyone calls for a market economy and all departments speak for opportunities to build public) sector,

    where unemployment is clear not only in resources but only in the advanced professional levels as well, sounding the alarm poverty line, sectoral crises (infrastructure, housing, standard of health, illiteracy rate, children out of school, the quality of the activities … etc).

    The recent financial crisis, a decline in oil prices (and we promise this article the price per barrel fell in less than 24 hours more than five dollars), where he was selling a barrel of Iraqi oil for the months February, March, April 2015 is (almost 54.50, $ 55 from port North 45.48, to $ 51 from the southern port) cultivars,

    while the price of $ 57 per barrel adopted in Aaadadalmoisnh, so it’s mathematically expected to form the actual budget deficit of more than 20% of its size, and in the circular of the public treasury and borrowing from banks assets exhaustion and the contributions of the Central Bank,

    the second half of this year will see a real problematic in financing current expenditures only for the continuation of the work of the administration in Iraq.

    Arena has seen a lot of economic theory and newspapers were filled with articles of bona fide naive in addressing economic problems did not mind some of the effect he can be raised by a certain rumor or disturbance in the economy of statement is already troubled.

    We always say We continue to believe that the dilemma in Iraq’s economy is not in the theory and describe the problem, even with a sober of this theory,

     but the dilemma of the Iraqi economy is in the management of the economy and specifically in managing resources efficiently and preceded by a justice of the franchise to poor layers Her real interest in building safe and stable future for generations,

     in light of the crisis think wealthy beneficiaries and their feet while the poor pay the price for this crisis of blood and opportunities and the dignity of their children.

     We had we pointed out and we are in a position of responsibility that the exaggeration in the drafting of the general budget deficit of the scheme and is not justified is the error in the financial management leads inevitably to the crisis, even if it kept oil prices at previous levels (about $ 100 per barrel),

    and therefore there has been actual deficit in 2009 and replaced the suffocating now the crisis, Nasr we were in more of a treatise on this expansion in the budget estimates will lead to an actual deficit with accompanied always incompetence in spending,

    and therefore asks the audience, for example, why did not solve the problem of electricity despite the billions spent by since 2003 until now?

    Why deteriorating health services? Why do not we have an army still potent and professionally and armed with weapons fit in with the size of what it was spent?

    Everyone can submit examples here or there on the existence of corruption but everyone did not pay attention to the origin of this problem which is the continuation of the keenness of successive governments more than the size of spending without trace to its revenues,

    accompanied by acts of terrorism and violence in Iraq in the absence of a general budget of the state in 2014 to continue the government spending without even the presence of these boundaries that we criticize and believe Bmatha, continued spending and continued resistance to the issuance of the budget,

    and issued the budget in 2015 has not issued so far in 2014 budget, and was the lowest of the sense of responsibility of the various authorities requires a law to balance the 2014 to frame the actual spending only and are studied and discussed type and trends of this spending,

    which led to the crisis (disaster current), however, the external indebtedness of opportunities for Iraq to cover spending requirements which became tight now and return for a loan of $ 800 million or a billion dollars from international organizations will be imposed on Iraq conditions

    to say the least it’s exciting social disorder more under this circumstance than is actually the disorder, once again safe and as a solution (with our knowledge of the imbalance in the structural Iraqi economy, not only financially)

    “…the fiscal and monetary authorities in Iraq now that is seriously considering (and bravely) adjust the exchange rate of the Iraqi dinar and including in line with the real price for the operation of the economy and the productive sectors,

    we know that it will be at the expense of all of our dreams strongly Iraqi dinar, which was worth US $ 3.33…” and 2.4 pounds, and became in 1979 KD and AED,

    and I know very well that the initial reading of what would respond later Ststvz citizen who claim that I defend him Ohz provocation is justified,

    where no longer has the ability to withstand the face of these circumstances burdens extra, but I did not find, but a choice between going into the unknown this citizen and between finding inexpensive solution to him in the short term, both in job creation or the revitalization of the economy as a whole.

    Although I think ease the burden immediate depends on the government’s ability to deliver services to its stakeholders (Rashadh spending), with the exchange mentioned price (Dream) fit state continued exporting oil to importing goods,

     which led down to the erosion of the real in which economic sectors for the benefit of service activities or marginal associated abroad often,

     but“…the choice is now between the high exchange rate of the Iraqi dinar, or building a strong economy are working with and the market economy efficient mechanisms and address the important part of the budget deficit,

    is no longer the exchange rate 1500 dinars to the dollar now enough, the economic impact the negative social to change the exchange rate significantly will be touch through high inflation in Iraq…”

    and the implications of this increase in pressure on the owners with limited income and low-lying in the community, and to address it must at the same time seriously considered to provide a ration card incompetent reservation a minimum of standard of living of the citizen without pressure on the low food level originally and policy to rationalize the government imports directly through the use of

    “…the Ministry of Finance for its own account dollar with the outside world believe that it can now in the short-term stand him seriously Inevitably

    , the face of the crisis, the central bank can use its reserve of foreign (currency which should be the last line of defense is to resort to him) to defend any exchange rate he wants,

    but to what extent and at what cost? This is important. We hope that the crisis is an opportunity to build deterioration factor may be the impetus to take courageous decisions.”

    Almashriqnews.com    http://www.almashriq...ew.asp?ID=89259

     This is a very great article and show how real this really is. Have a safe week.   Blessings,   Steve

    SCZIN11 CHAT UPDATE : INFO ON FATCA, 11 JULY

    HI EVERYONE,  FLASHBACK; FEBRUARY 2015 - ZEBARI ANNOUNCES THAT IRAQ WILL SEEK TO APPROVE LEGISLATION  TO GAIN FATCA (US TAX COMPLIANCE STANDARDS) BY SEPTEMBER 15, 2015.

    NOT MUCH NEWS ON THIS SINCE FEBRUARY....UNTIL TODAY! PLEASE SEE WHAT THIS MEANS FOR US!

    PLEASE SEE LINK HERE: http://wealthwatch.world/showthread.php?tid=996

    Parliament is expected to join the project agreement "Alvta" and praising its experts

    Author: Editor: ap reporter: ay   Number of Views: 170     07/10/2015 11:58

    Tomorrow Press / Baghdad: the House of Representatives awaiting the arrival of a draft law to join the agreement "Alvta" (the new Code of Tax Alamttal US) for citizens of citizenship campaign the US in all the world, while praised the experts this step.

    and know "Alvta" which stands for Foreign Account Tax Compliance Act as measures limiting evade US citizens to pay taxes to the government, has recently been working out in 30 countries in the world.
    ~~~
    She said the Finance Committee member Magda Tamimi for "tomorrow Press", "The House of Representatives awaiting the arrival of a draft law to join Alfatyka agreement, by the Iraqi Central Bank, which considered and prepared for discussion, in order to vote on them.

    " She said Tamimi said, "This Agreement gives reciprocal immunity for both Iraq and the United States in the field of taxes and follow the movement of funds as well as it increases transparency in the exchange of information between government sides." .

    She Tamimi said, "If the US citizen, for example, to pay the premium value or price of an apartment in cash, was discovered the subject of the selling company as recorded receipt of the amount in cash and the amount of high value, and put the buyer does not enable him to buy it, he will face the buyer two counts, either He had other income and the hide it to the IRS, or that he has entered illegally or the money-laundering process and here comes the Iraq mission Bmassarvh and his government verification of that person. "

    She said a member of the Finance Committee that "operating in Iraq, the banks covered by the Convention on the Alvta own reduction of evasion tax when entering Iraq to the Convention effectively, so it must be steeled to this Convention through the preparation of the infrastructure of their specialists and mechanics of staff are similar to those applied in the United States and the rest of the state.

    Furthermore, the expert in financial and banking affairs believer Abdullah's "Tomorrow's Press," that "taxes in the United States high and expensive as well as higher wages for labor there, what makes some of them looking for the establishment of check his profits in countries where the tax payment is less and the cost of labor is low projects."

    He said Abdullah " this agreement serves the American side much compared to some banking facilities of the United States offered to Member States in the Convention, which serves Iraq today in light of its financial crisis suffered by a negation of liquidity. "

     Abdullah stressed that "should the development of the banking system and make it refineries global systems so that Iraq to benefit from this agreement, "returned to" the Convention gives member states the legal cover to the freedom of action of the banks as well as granting facilities for banking. "

     decided some countries make the deal banks with US IRS directly, what makes their financial institutions subject to "Alvta", otherwise subjected to sanctions by the United States will take against countries that banks do not disclose private accounts Americans have deduct 30 percent of their accounts of US banks, and the last was prevented from dealing with them.

    http://alghadpress.com/ar/news/33530/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%86%D8%AA%D8%B8%D8%B1-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D8%A7%D9%84%D9%89-%D8%A7

    SO WHAT WE HAVE HERE IS AN ARTICLE STATING THAT THIS LEGISLATION IS TO BE DISCUSSED WHEN THE PARLIAMENT RETURNS FROM THEIR EID/FEAST

    sczin11: FOLKS THIS IS IN REGARDS TO Foreign Account Tax Compliance Act FATCA Current Alerts and Other News

    sczin11: www.irs.gov/Businesses/Co...

    OOTW: I REALLY LIKE THAT WE'RE SEEING THIS AGAIN - I WAS WONDERING IF WE'D SEE THIS NOW AS WE NEAR SEPTEMBER

    OOTW: THANKS SCZIN11!

    sczin11: FOLKS THIS IS HUGE...

    OOTW: BRB I'M SEEING IF I HAVE A COPY OF THIS IN MY EMAIL BECAUSE THE MOF SITE HAS NOT BEEN UP REGULARLY THIS WEEK

    sczin11: THIS MEANS THEY ARE EXPECTING INVESTORS FROM THE USA AND ARE WILLING TO COMPLY WITH USA TAX REPIRTING LAWS

    OOTW: HERE IS THIS REFERENCE ARTICLE BUT THIS IS NOT THE OFFICIAL STATEMENT FROM ZEBARI

    Finance Minister presiding over a meeting with the directors and managers of banks and insurance companies in the Ministry of Finance Thursday February 12, 2015

    FROM THE MINISTRY OF FINANCE SITE

    REMINDER ARTICLE-PRESS RELEASE

    Chaired by Finance Minister Hoshyar Zebari today February 5, 2015, in the office of the ministry held a meeting with directors of banks, insurance companies, and Director General of Tax Authority in the Ministry of Finance and the Director General of the Iraqi Commercial Bank.

     During the meeting, discussion of tax compliance with the United States of America Agreement (Vta) and concluded between the United States and most countries and related tax compliance calculations foreign to provide tax information on people who hold US citizenship. It is due to the central bank to submit draft legislation between Iraq and the US US United on the law for submission to Parliament in the coming period to decide before the fifteenth of September 2015

     http://www.mof.gov.iq/Pages/MOFBannerHea...NewsID=172

    OOTW: THIS IS VERY GOOD FOR US, ESP WITH THE FORECAST OF THE ADVENT OF TARIFF'S...

    I WILL NOT BE SURPRISED, HOWEVER, IF WE START SEEING SOME ARTICLES STATING THAT THE TARIFF'S WILL BE POSTPONED ..

    SORRY TO SOUND LIKE A NEGATIVE NELLY, BUT THIS HAS HAPPENED SO MANY TIMES NOW...I'M SURE WE'RE GOING TO GET MANY CONFLICTING ARTICLES ABOUT THIS

    sczin11: ‹@OOTW› REMEMBER ONE VERY HUGE ISSUE, THREATENING THEIR ENTIRE MR... THE BLACKLIST... THEY MUST MAKE CERTAIN MOVES TO AVOUD BEING BLACKBALLED

    OOTW: GREAT REMINDER, SCZIN11!

    THOUGHTS FROM BUTIFLDRM ON THIS...

    THE FOLLOWING ARE COMMENTS FROM BUTIFLDRM SENT TO ME VIA EMAIL AT THE TIME THE ABOVE PRESS RELEASE FROM ZEBARI CAME OUT:

    This is very interesting OOTW,  I wonder why the date September 15th is the due date to comply with FATCA regulations?  I don't think that I have ever read an announcement out of Iraq that has ever stated that they were playing the G20 game.

    Soooo.  I'm sure, under the Iraq's circumstances, ISIS, No Liquidity, and total corruption that there is no way in Hell that Iraq could become a Tax Haven.   

    So I see it two ways: 1) Zebari is basically stating that Iraq is going to comply with the G20 and FATCA rules and paly the IMF game or

    2) something is going to happen economically where U.S. investors would be able to hide from tax implications before the 2015  next tax cycle and so Iraq has to comply to avoid repercussions.

    FATCA – Region preparing for Uncle Sam

    Forthcoming US rules loom large over Middle Eastern banking sectors

    FINANCE    April 30, 2014 by Paul Cochrane

    FATCA is due to come into force on July 1

    The four-year build up to the Foreign Account Tax Compliance Act (FATCA) going live is nearly over, with just eight weeks left until financial institutions have to be compliant.

    But the act, which is intended to rein in tax evasion by United States citizens abroad with accounts above $50,000, involves such a complex reporting and withholding regime that much of the Middle East and North Africa (MENA) will likely not be ready by the July 1 deadline, experts believe.

    Such an extraterritorial law puts the onus on foreign financial institutions (FFIs) to act, in essence, as unpaid agents for the US Internal Revenue System (IRS), or face a 30 percent withholding tax on US account holders. Further impetus to comply is the possibility of being cut-off from the US financial system and not being able to deal with FATCA compliant institutions.

    “If a country is not FATCA compliant it will be financially sanctioned in a new way, ‘the FATCA way’, and the readiness in the MENA is not sufficient in my opinion for a FATCA go-live situation,” said Camille Barkho, chief compliance officer at Lebanon and Gulf Bank.

    The potential sanctioning of the Lebanese banking sector is a grave concern in Beirut, given the high degree of the economy’s reliance on banking.

    Fortunately, Lebanon is ahead of the regional curve in getting to grips with FATCA. “At a FATCA Q&A session at a conference in March, some of the questions asked were very basic. You still hear regional banks asking questions about FATCA that Lebanese banks dealt with two years ago,” added Barkho.

    Understanding FATCA at an institutional level has been one of the main stumbling blocks to compliance. The initial FATCA document was over 500 pages long and a further 500 pages have been released since.

    The starting date for reporting had also been delayed multiple times – the last one gave a further six months, to July this year – which has sent mixed signals as to how serious the deadlines are, while implementation on the US side has been badly handled.

    “There are not sufficient IRS platforms to assist FFIs in better understanding the regulations. Recently the IRS released the ‘Temporary and Final Regulations,’ but how to go live with something ‘temporary’?

    And the W8 form was released in March, and other documents released this month. How can you prepare for an exam if the teacher doesn’t provide enough course material?” said Barkho.

    Two options

    The biggest stumbling block is the lack of agreement between governments and Washington. To provide information to the IRS, inter governmental agreements (IGAs) are needed, or alternatively central banks can allow FFIs to file directly to the IRS, which is what Lebanon is doing.

    Other MENA countries are considering the same reporting mechanism as Beirut. With the exception of Oman and Kuwait, the rest of the Gulf Cooperation Council (GCC) countries have indicated they will opt for an IGA, although with just over two months to go before FATCA goes live time is ticking.

    “In the UAE an IGA is getting close but institutions are not sure if it will be wrapped up in time,” said Ranjith Kumar, Director at Keypoint, a financial services consulting firm in Bahrain.

    Elsewhere in the region it is a similar story, from Turkey to Morocco. “Egypt said it will participate without an IGA. Tunisia and Libya are considering IGAs, but they’ve not progressed significantly,” added Kumar. “Institutions could register directly, but with disclosure of customer information to a government outside their jurisdiction, they are looking to regulators for guidance to decide how to go ahead with disclosure.

     In Algeria for instance, some of the banks have highlighted that they would get ready but will register for FATCA only after regulatory guidance.”

    In Iraq, no IGA has been signed, but the Central Bank of Iraq (CBI) is pushing banks to comply.

    “There will be a lot of teething problems about disclosure and transparency, and lots of Iraqis are dual nationals so it will have an affect,” said a source at the CBI who requested anonymity.

    Curiously Syria, in the midst of a conflict and international sanctions, is considering playing ball with the US.

    “The central bank has formed a FATCA committee to decide what to do, but I’m not sure if they can sign an IGA due to [US] sanctions,” said Dr Paul Morcos, founder of the Justicia law firm and President of the Banking Commission at the Beirut Bar Association.

    In Iraq, no IGA has been signed, but the Central Bank of Iraq (CBI) is pushing banks to comply. “There will be a lot of teething problems about disclosure and transparency, and lots of Iraqis are dual nationals so it will have an affect,” said a source at the CBI who requested anonymity.

    On a global level, the MENA is not lagging behind. Only 26 countries have signed IGAs, while 19 countries have in the words of the IRS “reached agreements in substance” with the US this year, of which Qatar is the only MENA country listed.

    The lack of IGAs is raising question marks. “I don’t know how they will be able to go live on July 1, with so few IGAs signed. I am not saying they should delay again, but is the market ready? Where’s Russia? Where’s China, Europe and Australia?” asked Barkho.

    Three areas of impact

    The lack of assistance from the IRS is a major gripe of financial institutions, especially as implementing FATCA requires major initial currency within an institution, estimated at $25,000 for smaller institutions, to $100,000 to $500,000 for most institutions and $1 million for larger firms.

    While a boon for the financial consultancy and IT industry, it is an extra cost that institutions would rather not have. As such, FATCA may well have a knock-on effect on banks to cut costs elsewhere.

    “International challenges can lead to the restructuring of the banking sector. So FATCA poses a question – will we have to restructure the banking sector here?” said Morcos.

    More pressing in the immediate term is the issue of privacy and the safety of American citizens.

    “One thing the Treasury has not thought about is how do you protect US citizens? In a country like Lebanon, with Hezbollah and other US designated terrorist organizations, banks will identify US citizens, which could put them at risk,” said the BDL source.

    Dual citizenship is a related concern, as in many MENA countries it is not allowed.

    “It will be a challenge as some citizens are known to have US citizenship, but now they have to explicitly declare if they have US citizenship or not,” said Kumar.

    “How institutions use the information once clients waive their right of confidentiality could be an area of concern for customers.”

    The regional and global impact of FATCA has also not been addressed. With so few IGAs signed and banks not ready or willing to file directly to the IRS, will they be cut off from the US financial system?

    There is the assumption that the IRS will have to be pragmatic in the first year to prevent major reporting issues.

    Indeed, the IRS reported 2.7 million filing errors – out of 60.5 million tax returns – in the US in 2011.

    “Imagine the number of errors by FFIs reporting to the IRS? Even the most compliant banks will have high levels of errors,” said Barkho.

    How will banks implement the withholding of tax, and how will compliant FFIs deal with non-compliant FFIs? Answers are also not clear.

    While FATCA is likely to go ahead, it is not a 100 percent given, with members of the Republican National Committee voicing concerns recently, and the possibility of the Democrats losing the Senate to the Republicans in the fall.

    More questions about the viability of FATCA will no doubt arise, such as the returns versus the outlays. Indeed, in the IRS’ 2013 Annual Report to Congress, it notes that the Congressional Joint Committee on Taxation estimates that FATCA “will generate additional tax revenue of approximately $8.7 billion over the next 10 years,” while private sector implementation costs could “equal or exceed” the amount FATCA may raise.

    Further questions may arise if there is a dawning realization about negative economic impacts on the US itself. “What happens when we start shorting payments on our Treasury bonds (TBs) by 30 percent?

    A sovereign holder is not subject to withholding, but for a private institution, what if the interest payment is done through SWIFT to a commercial bank that has not signed an IGA?

    Treasury will take the interest,” said Jim Jatras, Manager of RepealFATCA.com, which is lobbying against the law in Washington. “This is the kind of thing that could promote dumping TBs, and affect interest rates and the dollar as a global currency, which are issues nobody has thought out.”

    http://www.executive-magazine.com/business-finance/finance/fatca-answering-to-uncle-sam

    The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires foreign financial institutions to report to the Internal Revenue Service (IRS) about their U.S. clients.

     Congress enacted FATCA to make it more difficult for U.S. taxpayers to conceal assets held in offshore accounts and shell corporations, and thus to recoup federal tax revenues.

    [1] The FATCA is a portion of the 2010 Hiring Incentives to Restore Employment (HIRE) Act.

    [2][3]

    FATCA is designed to increase compliance by U.S. taxpayers rather than to enforce collection from foreigners. FATCA requires foreign financial institutions to report information related to the ownership by U.S. persons of assets held overseas.

    [4] Under U.S. tax law, U.S. persons are generally required to report and pay taxes on income from all sources.

    [5] Taxpayer identification numbers and source withholding are used to enforce foreign tax compliance. For example, mandatory withholding is often required when a U.S. payor cannot confirm the U.S. status of a foreign payee.

    [6] The United States levies income taxes on its citizens, regardless of residency, and therefore requires Americans living abroad to pay U.S. taxes on foreign income (minus credit for foreign tax paid).

    [7][8][9] For this reason, the increased reporting requirements of FATCA have had extensive implications for U.S. citizens living abroad.

    The IRS previously instituted a Qualified Intermediary (QI) program under Internal Revenue Code § 1441,
    10] which required participating foreign financial institutions to maintain records of the U.S. or foreign status of their account holders and to report income and withhold taxes.

    [11] One report found that participation in the QI program was too low to have a substantive impact as an enforcement measure and was prone to abuse.

    [12] An illustration of the weakness in the QI program was that UBS, a Swiss bank, had registered as a QI with the IRS in 2001 and was later forced to settle with the U.S. Government for $780 million in 2009 over claims that it fraudulently concealed information on its American account holders.

    [12] Self-reporting of foreign financial assets was also found to be relatively ineffective.

    [13]

    It has been estimated that the U.S. Treasury loses as much as $100 billion annually to offshore tax non-compliance.[3] Therefore, supplementing the reporting regimes already in place was deemed to be an effective means of increasing compliance and raising government revenue.

    [14] After committee deliberation, Sen. Max Baucus and Rep. Charles Rangel introduced the Foreign Account Tax Compliance Act of 2009 to Congress on October 27, 2009. It was later added to an appropriations bill as an amendment, sponsored by Sen. Harry Reid, which also renamed the bill the HIRE Act.

    [15] The bill was signed into law on March 18, 2010.

    FATCA has three main provisions:

    It requires foreign financial institutions, such as banks, to enter into an agreement with the IRS to identify their U.S. person account holders and to disclose the account holders' names, TINs, addresses, and the transactions of most types of accounts.

    [16] Some types of accounts, notably retirement savings and other tax-favored products, may be excluded from reporting on a country by country basis. U.S. payors making payments to non-compliant foreign financial institutions are required to withhold 30% of the gross payments.

    [17][18] Foreign financial institutions which are themselves the beneficial owners of such payments are not permitted a credit or refund on withheld taxes absent a treaty override.

    [19]

    U.S. persons owning these foreign accounts or other specified financial assets must report them on a new IRS Form 8938, Statement of Specified Foreign Financial Assets, which is filed with the person's U.S. tax returns if the accounts are generally worth more than US$50,000;

    [20] a higher reporting threshold applies to US persons who are overseas residents and joint filers.

    [21][22][23] Account holders would be subject to a 40% penalty on understatements of income in an undisclosed foreign financial asset.

    [18][24] Understatements of greater than 25% of gross income are subject to an extended statute of limitations period of 6 years.

    [25] It also requires taxpayers to report financial assets that are not held in a custodial account, i.e. physical stock or bond certificates.

    It closes a tax loophole that foreign investors had used to avoid paying taxes on U.S. dividends by converting them into "dividend equivalents" through the use of swap contracts.[26][27]

    These reporting requirements are in addition to the requirement for reporting of foreign financial accounts to the U.S. Treasury;[28] this most notably includes Form TD F 90-22.1 "Report of Foreign Bank and Financial Accounts" (FBAR) for foreign financial accounts exceeding US$10,000 required under Bank Secrecy Act regulations issued by the Financial Crimes Enforcement Network (FinCEN).[29]

    http://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act

    MNT. GOAT UPDATE : 5 KEY EVENTS, 11 JULY

    UU6715 – “5 Key Events“  by Mnt Goat

    Grüße aus Bayern,

    The news is a continuing saga about the Iraq dinar revaluation. If you have not done so already please read my news letter from 7/7 since this is yet more news on this topic.

    I know I must sound like a broken record once again but I can assure you, until there is the needed physical security and political stability in Iraq there will be no currency revaluation.

    So if I could summarize any events that I would now we watching for, these are the events I describe today in this news letter.  Through these events they might even give us some clear clues as to how close we really are to the currency reform in Iraq.
    ....
    [Today’s News]

    Today is Saturday July 11th and still no RV.  Everything is progressing forward. I need everyone to stay focused on these events I am describing to you today. We can not give up hope on this situation in Iraq. There is simply way too much PTB interests in this region for them to give up and run.

    Are we going to see an RV this weekend? I can absolutely, positively tell you there will be NO ANNOUNCEMENT of an RV this weekend or in the coming week. Sorry!

    I say this not because I am thinking it but because I know it for a fact.  Like I have said many times, I know that a three letter agency is using these sources of information (forums and conference calls) to pass misinformation to everyone. They are now doing this constantly to discredit those that are gullible (and dumb) enough to pass it along to you. Can you now see through this web of constant deception?

    So if not this week then when will the RV happen?

    How many times must I tell you. The RV will happen as a by-product of the situation in Iraq. When they have ENOUGH political and security stabilization they will chose to pull the trigger on the RV. From all my sources I am hearing they have NOT yet reached this level but are moving forward rapidly.

    No! - the terrorists will NOT have their way. This will not drag this effort on forever. Please read the articles. They are telling us so much.

    They may have caused yet another delay in the freedom process for Iraq but the overall plan will inevitably triumph.  Remember too it is not just ISIS in itself but a long history of the Maliki as the ring leader and his band of goons as terrorists in Iraq and assisting in Syria.

    As we know the earth evolves. One thing we know for sure is time will change everything. Time is always our friend or our enemy. We too will live today and die some day. Terrorism, just as it once did not exist, will also fade away an once again that era along with it. More peaceful times are ahead.

    You see folks this evil, satanic monster erects it ugly head over and over again. This is the challenge of society. This is our challenge as human beings wanting to live in love and prosperity.

    So our way of life is constantly being challenged and we must meet that challenge but in the process we must never give up hope.

    Just remember all those that were confined in concentration camps in WWII. Some say the survivors were lucky, but in reality they just never gave up on hope and never stopped believing in their dreams of liberation and freedom.

    If you read about these victims they will tell you over and over again what truly kept them alive. It was their thoughts, simply their thoughts!  Their thoughts of constantly dreaming not about their situation but about another life of abundance and prosperity. I know this is hard to do when you are knee deep in crap but you must arise to this challenge and stay sane through this entire process.

    For if you don’t then what good will this benefit you. You would have wasted…simply wasted al these years. So how will you come out the other side – will it be healthy, wealthy and wise?

    Today we don’t give up. We move forward and meet the challenge ahead to combat terrorism. We know that this investment is much more than just an investment or a speculation. It is really about meeting the challenge of fighting global terrorism. We are all now involved in this effort like it or not.

    Once again, like fighting Fascism and Nazism during WWII, we are now faced with this new monster, this new challenge  in our generation. Like many who ignored and denied the plight  of the millions of imprisoned Jews will we too, in our generation, ignore the millions of homeless refugees in the middle east?
    So now in our challenge to stay focused in this investment. I wanted to keep this news letter today very short.  I have gathered some information on events that I see coming to us in the very near future. These are nothing new to us since I have talked about them many times already.

    Let us now look at these five (5) items below. 

    1) Amnesty is huge as I have told you in many of my news letters and will continue to tell you. Many have said they will not fight the battle for Mosul without Amnesty, they are about to start the battle, so is amnesty now done? Iraq has said a final vote is coming next week. 

    2) When we hear that those F16s finally being sent over from Arizona USA

    3) When Maliki is gone (ICC is about to arrest him, Abadi already told Dowa party to find another candidate for his VP position, Maliki was given to July 8th to resign or take the hard road, its now July 11th. We await for the news.

    4) First payout of HCL money to Iraqi citizens (finance ministry said they would do it in the June/July timeframe, it is July 11th already)

    5) Completion of the decentralization plan by August 6th (must get the final vote on the Federation Council and get these provincial National Guard units established). Their date not mine.

    Peace and Luv To Ya All, 

    Mnt Goat

    BREITLING REPORT, 11 JULY


    KTFA CHAT UPDATE, 11 JULY

    KTFA:

    dew7 :What happened to all the excitement for July? I guess being so busy this last week, I missed something. I will have to go back and see what it was.... Are the Bonds not what we thought they would be? I thought we needed a rate for a few issues this month.... but then again, over the years, I have thought we needed a rate for many things.......lol either way there is nothing to do but pray and wait another "2 weeks" that is what it has felt like for the last 8 years but maybe now we are looking at "2 months" Boy do I hope it is sooner than later!!! I know that if it is tiring for us it is more so for the leaders and news hounds.... thank you all for all you do!

    Frank26:  Friend ......... There is a new thread among us that is listing MANY things that are in a long line waiting for DRS to lift the 000's from the IQD's exchange rate.

    LOL................ Me and You are also in it.

    ....
    In other words Friend............ i am proud to stand in this line with You and the caliber that makes 90% of this long list. It is rather impressive........ ALL STARS.

    Tell me ......... Whey does one keep the score of a game?

    To determine the winner.

    So with the same thought why does one stand in a Long Line ......... Mass hypnosis?

    No.

    Because they eagerly await something productive......... Something Good.

    Together.KTFA   Frank


    ************

    Thunderhawk » July 11th, 2015, 12:08 am   


    Backdoc & ThunderHawk     IN THEIR OPINION....

    AD-LIB THE BLUNDERS of SETUPTEMBER and OPTOBER

    WITH SALARIES TO BE PAID JUST AROUND THE CORNER OF RAMADAN IN IRAQ, A NEGOTIATED GREXIT ON THE ROCKS, AND BILLIONS OF BARRELS OF BLACK GOLD BEGINNING TO LEAVE IRAN FOR A NEW WORLD HOME, THE MARKETS WILL BATTLE IT OUT COME SEPTEMBER.

    AS THE OLD FIAT FISCAL YEAR LEAVES IN SEPTEMBER, A NEW BEGINNING AWAITS THE COUNTRY AND THE WORLD. GLOBAL TRADE WILL RESHAPE THE FINANCIAL WORLD. WHO WILL WIN THE MOST OR LOSE THE MOST?

    IT MIGHT BE A BEAR AND THATS NO BULL!!    SLAP! OH SORRY! IT MIGHT BE CHALLENGING, THERE THATS BETTER!!!

    THE OPTIONS WILL BRING US TO OCTOBER WITH AN UNSIGNED U.S. BUDGET. THE REPUBLICANS ASK WHETHER OBAMA LOVES THEM OR LOVES THEM NOT. WILL HE LOVE THEM AND SIGN THE BUDGET INTO LAW OR WILL HE CAUSE A GOVT. SHUTDOWN? MMMMM

    HE LOVES THEM HE LOVES THEM NOT, MMMMM

    THIS NEW FISCAL YEAR IS GOING TO BE INTERESTING. IS THAT WHEN A NEW GLOBAL REALITY VALUE FINDS THE NEW ASSET BACKED DOLLAR? MMMMM

    OPTOBER HAS SO MANY OPTIONS !! LOL

    WHEN THE DOLLAR ADJUSTS TO THE REST OF THE WORLDS CURRENCIES I EXPECT A 40 TO 50 PERCENT DROP.

    I KNOW IM DING DONG DOC BUT IF IT DROPS THE OTHERS GO UP!! PHEW !! GLAD I'll BE STILL HOLDING ON TO MY CURRENCIES UNTIL AFTER THE NEW FISCAL YEAR!!

    JUST DING DONG DOC AND DR. THUNDER HAVING SOME FUN IN OUR CRAZY OPINIONS!! LOL

    DOC AND THUNDER    IN OUR OPINIONS

    ************

    Frank26:  FBS:  i am not being silly nor coy when i tell You every second since THE GREEN was given to DRS to lift the 000's from the IQD's Exchange Rate is Scalding Hot !!!

    July?   Hot.

    August?  Hot.

    So is Sept / Oct / Nov / Dec ..... 2015 ... 2016 ... ect.

    Understand Friend?

    It is a Continuing Lava Flow ......... When have You ever seen a LAVA FLOW ..... Cold?

    Love You ...... KTFA  Frank......... Stay Strong !!!


    ************

    Sydneysam2:  Frank, are you saying we could possibly go into 2016, etc. before we ever see this ri/rv?

    I sure pray NOT!!  I thought this was needed NOW by the Iraqi people?

    ************

    Frank26:  No Friend ....... i am saying there should be NO Chronological Substitute for a Chronic Study of this IQD MR.   OK?   KTFA   Frank

    ************

    Purifiers:   Many need this.... as Frank posted (above) all we can (SHOULD) do.... is follow and "study" this monetary reform of Iraq.... NONE OF US.... (EVEN FRANK) ARE PRIVY TO ALL THAT MUST HAPPEN NEXT.... with Iraq....

    In the mean time.... I captured (collected) the posts THUS FAR.... from the thread titled:
    LONG WAITING LINE.........ARTICLE 8

    THAT THREAD IS FOR POSTING THE LONG LIST OF THINGS NEEDED FOR ARTICLE 8....

    In other words.... "WHO" is waiting for Iraq to have an International Value to their currency???

    Here is a compilation of those posts pertaining to article 8.... so far:

    The real CBI Gov.
    Bonds/ With a rate
    Credit rating
    Citizens
    Banks
    Investors
    Foreign Businesses
    New Gov
    Housing projects
    Ports
    Master Card
    Other countries
    Laws
    Retirees
    Workers getting payed
    Local business
    Water projects
    KURDISTAN
    IMF
    TARRIFFS
    BIS
    WORLD BANKS
    VIETNAM
    WORLD
    CITIZENS OF IRAQ
    LAWS TO BE ENACTED
    HCL
    SHIPPING
    USA
    GOLD
    SILVER
    STOCK MARKET
    INVESTORS
    BUSINESSES TO OPEN IN IRAQ
    NATIONAL GUARD
    US Treasury Notes
    Security
    All Nations
    All Currencies
    All Citizens
    All Financial Institutions
    Global Events
    Hiliary
    The House and the Senate
    The Bush Family
    Wells Fargo
    DR SHABIBI APPLYING THE RIDER WHICH WOULD OFFICIALLY DROP THE 000 & RAISE THE VALUE OF THEIR CURRENCY TO A 1 USD to 1 DINAR OR 3+ ON A FREE FLOAT ALLOWING IT TO BE INTERNATIONALLY TRADED BY ALL BANKS AND CURRENCY EXCHANGE CENTERS WHILE FLOODING THE MARKET WITH THE LOWER DENOMS AND COINS (fils)
    The citizens rights and desires
    The tariffs
    Any outstanding laws
    HCL
    Oil issues
    Relations with Kurds...
    Maliki issues
    Security (it's there...)
    Bond implementation
    US presidential status/election
    Water issues
    Anti laundering laws
    bank operations
    lower denoms
    foreign imports
    SWIFT CODES
    ECONOMY
    INFLATION
    FRANKIE
    MY SELF (standing in line right behind Frankie)
    MASTER CARD AND VISA
    Currency exchange rate that reflects the true wealth of that country.
    Contracts
    Governor of CBI announced
    000's lifted
    Investors- like us!
    Contractors want payment
    Smart cards
    Retirees
    The Dong hinting to come forward early
    Economic stability, Budget implementation... full implementation... New currency.
    Vietnam
    BRICs
    Cuba
    Greece
    Turkey
    Trade relations
    Iraqi Soldiers
    Iraqi Government
    Kurds
    BRICS
    AIIB
    USA Politicians
    Qi Cards
    Iran
    China
    Russia
    The UK
    Germany
    Any and all countries that assisted Iraq with the DAASH battles
    Seven Things by 7/7:
    1) The GOVERNOR (Shabibi)
    2) BONDS (with a soluble rate)
    3) 50s & 100s
    4) MASTER CARDS & VISAS & others
    5) SALARIES
    6) LOWER DENOMs
    7) CREDIT RATING

    One thing not specifically mentioned is the KTFA family - all of us are investors, but we are also family.
    TIMING----EAST TO WEST

    Bluedog  » July 11th, 2015, 3:56 am 

    ALL IMO LOOKS LIKE HCL WILL BE SOLVED END OF NEXT WEEK JUST BEFORE EID HOLIDAY ..................... "The meeting takes place ahead of the Eid al-Fitr, which solves the end of next week."

    Read more: http://www.sotaliraq.com/mobile-news.php?id=209543#axzz3fZ3yVpLH

    AND IT LOOKS LIKE THE SECRET MEETING THAT HAVE BEEN TAKING PLACE IN FINLAND AND THE LAST ONE IN IRAQ HAVE BEEN POSITIVE AWAY FROM THE MEDIA  
    http://www.sotaliraq.com/mobile-news.php?id=209451
    ************


    TF1564:   SO, IF THIS INFORMATION IS TRUE AND ACCURATE, OUR STUDIES HAVE INDICATED THAT WITHIN A NANO SECOND OF THE HCL ........WILL APPEAR THE RATE....

    IMO OF COURSE.

    ISN'T THAT THE CASE AS WE HAVE STUDIED? THIS WOULD APPEAR TO BE A VERY GOOD THING!!!!