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Wednesday, August 19, 2015

DAVE SCHMIDT UPDATE: Aug. 19th, Creating Our Shift and Change

BULLDOG75: MAKING SENSE OF WORLD'S CURRENCY SYSTEM, 19 AUGUST

BULLDOG75: MAKING SENSE OF WORLD'S CURRENCY SYSTEM

Time again to stop, look & listen.
It appears the "7 year Itch" is here between Sept 7-21.
Check the world's events every 7 years and data shows something major to happen.
Take heed.  The Markets may wobble 20-40%.
The signs are here; we cannot ignore the obvious.
Gold and Silver is a currency.
Will Texas gets its gold into it's depository?  Lets keep an eye on that one too.

I Love You All,
Bulldog75

PS: Here's a good read to help understand the currency market and World's Monetary System.
Time To Restore Sanity To The World's Monetary System

August 17, 2015

China's decision to devalue its currency is rightly seen as a threat to American workers and a violation of legitimate competition. When the price of goods offered in the global market can be slashed as the result of currency manipulation rather than having more

competent workers or achieving greater production efficiency, it's not only unfair, it's an affront to the principles of free markets and free trade.

Both Republicans and Democrats recognize that currency debasement violates the rationale for an open global marketplace where nations compete fairly on a level playing field. "Countries like China that cheat and don't play by the rules hurt good paying American jobs,' Rep. Debbie Dingell (D-Mich.) observed last week. Sen. Rob Portman (R-Ohio) points out that combating currency manipulation by our foreign competitors needs to be a priority in negotiating trade agreements; he notes that last week's devaluation of the yuan serves as "another harsh reminder that we cannot afford to sit idly by as China refuses to play by the rules."

There's only one problem with warning nations not to manipulate their currencies and to play by the rules: There are no rules.

Ever since the Bretton Woods agreement from 1944 was ended in the early 1970s, we have had no rule-based system for aligning exchange rates among the world’s different currencies. The Bretton Woods system required every participating nation to maintain a fixed exchange rate between its own currency and the U.S. dollar. The objective for safeguarding international monetary stability was to ensure that sliding exchange rates did not tilt the scales of price competition. Free trade was based on genuine value rather than monetary illusion. Capital flowed to productive investment opportunities rather than speculative financial instruments.

The integrity of the world's monetary system rested on a U.S. dollar that was convertible into gold at the rate of $35 per ounce of gold.

Compare the simplicity and purity of this approach with the currency chaos and monetary manipulation we have today. Exchange rates among the world's major currencies shift unpredictably with no linkage to any common denominator or reference point. Even worse, with central banks around the world desperately flooding economies with cheap credit, money has become disconnected from the real economy.

Such an irrational situation permits government officials to directly intervene in foreign exchange markets to influence the value of their own nation's currency relative to other currencies. And it only takes a subtle hint from a major central bank authority regarding the future direction of interest rates to cause an exchange-rate jolt among the world's leading currencies that devastates the business plans of manufacturing companies — while enriching speculators who happened to guess right.

How much longer will we continue to allow this monetary disorder to undermine the logic of competitive markets and the notion of free trade? Nations will be forced to take protectionist counter measures by levying stiff tariffs against trading partners and imposing capital controls. It's a travesty of America's commitment to free market capitalism.

We need to fix what broke before it does further damage to our own nation's economic future and the prospects for global prosperity. Yet countries today can do anything they wish in terms of exchange rates, according to the International Monetary Fund (IMF): They can let their currency float, peg it to another currency or basket of currencies, adopt the currency of another country, form part of a monetary union or participate in a currency bloc. The only approach the IMF does not allow them to choose is to peg their currency to gold.

The irony — it borders on perverse — is that the IMF was created for the purpose of managing the Bretton Woods international monetary system in accordance with its fixed-exchange rate rules. Countries had to pay 25 percent of their "quota" subscription in gold (which the IMF still holds) to be accepted as members. And it was the stability of the gold anchor that provided the solid monetary platform for unprecedented real economic growth in the decades following World War II.
Labor productivity for the United States soared during the Bretton Woods era, with growth averaging 2.8 percent annually from 1948 to 1973. Middle-class income growth mirrored the gains in productivity, with the median household's income likewise rising at 2.8 percent annually; at this rate, incomes double every 25 years, or about once every generation. Moreover, the gains in overall household income were broadly shared. Income inequality decreased as the share of income going to the top 1 percent fell by nearly one-third, while the bottom 90 percent gained a higher share of total income. In short, having an orderly and ethical international monetary system was a tremendous boon to economic prosperity for the middle class.

What a striking difference from our current levels of economic performance and the inequities caused by monetary favoritism. The IMF today openly advocates currency depreciation as an effective way for member nations to become more "competitive" in selling their exports. Meanwhile, central bankers debase money through unwarranted pumping with scarce regard for how it skews exchange rates and distorts capital flows.

What monetary authorities fail to acknowledge is that manipulating your currency is not competing — it's cheating.

It's bad enough when workers do their best to produce high-quality goods that provide good value to consumers, only to be priced out of the market when the exchange rate abruptly shifts due to government intervention or the latest central bank pronouncement. It's even more galling to realize that the beneficiaries of monetary stimulus efforts that lower credit standards and devalue currencies are the wealthiest hedge fund traders who snatch profits by gaming the next round of quantitative easing instead of offering goods and services that actually benefit people and raise living standards.

It's time to restore sanity to international monetary relations — indeed, we need to reaffirm the morality of money itself. Currencies should not be used as weapons to undercut the honest efforts of workers in competing countries. It will take bold leadership and vision to restore the fundamental role of money as a meaningful unit of account and reliable store of value. Money is meant to provide a useful measuring tool for free enterprise — not to serve as an instrument of government policy.

Shelton, an economist, is co-director of the Sound Money Project for the Atlas Network and author of Money Meltdown: Restoring Order to the Global Currency System.

http://thehill.com/blogs/pundits-blog/finance/251248-time-to-restore-sanity-to-the-worlds-monetary-system

TNT CC NOTES, 19 AUGUST

TNT Call notes 19-August-2015
[Music:  God Bless Texas]
Tony:  Good morning, TNT!  Today is Wednesday, August 19, 2015.  I want to start by telling you that when I came on, and I heard Pam play that song, I thought, “God needs to bless Texas – they need some blessing!”  You should be able to laugh at yourself.  Also, someone sent me a letter from Texas.  Now, I love Texas for this reason:  they sent a letter asking me how to get in contact with the person in charge of the bus in Texas, so they don’t miss their ride.  I get it, this is confusing for a lot of people, but I had to laugh at that.  For the rest of Texas, you don’t want to be on that bus!
It is a very quiet day all around the world.  When we did the last call on Monday, memos went out all around the world saying “After X time, we look for something to happen, again. This time we’re really going to do it.”  I don’t know when that exact time way.  It wasn’t yesterday, but there is a lot of today left.  There are no holdups, everyone is ready to go, we just don’t know the exact moment in time.
So things are good.  The bank people are still ready, just sitting there.  Hopefully they got the memos.  It’s the quietest day in my five years of doing this.
352 caller:  I was on this call Monday, and people complaining that after all that good news there is still no RV.  I was hoping you would get my friend off the phone, because I’m tired of people who have that attitude, who think that YOU have something to do with this RV timing.  Next time, please could you cut him off?
Tony:  I got a lot of emails and texts like that.  I get one every day from Russell saying that I’m a liar and I’m an idiot, but if he has to spend his day sending me emails about the information and complaining, then he is the idiot.  He seems to think that I am the one who can get them to push button!  There are a lot of people who feel that way, and I try to address everybody – get it out, tell me how you feel, and I hope to explain it to them in a way that you can understand it because this is your  time to learn about what is really going on in the world and how it works.  Sometimes you have to tell them ten times before they get it that this one guy Tony is only giving information, not out to scam the world single-handedly OR able to get the GCR actually moving.  That is why I try to listen, try to listen and help them, and once they’re through, they leave.
Caller:  I don’t understand it, man – 27 minutes of complaints and frustration, and that was only one of four calls!
Tony:  I don’t understand it either, that people listen to call after call when they don’t believe what we are saying.
Caller:  I heard that if this doesn’t happen by 1. October, dinar will be blacklisted.
Tony:  I haven’t heard anything like that.  With the amount of dinar people have and the number of people who have actually exchanged already, can you imagine the kind of uproar it would bring if they did something like that?  Next year, the whole year is an election year!  I don’t need to say anything else about what would happen.  Our politicians are too smart to let something like that happen next year, or to happen this year if they have to pay the price next year.
Caller:  Also, your ‘buddy’ said that they were cutting salaries to save money and be more efficient, and now she is saying this won’t RV until the middle of September.
Tony:  I am giving you the current information as I get it.  Mtn Goat has been just as wrong or changed their dates just as much as anyone else, including myself, until the information changes.  Nobody is right until it happens.  In April we thought it would in May, and in June we heard it would be in August.  The reason people say this is NOT happening is that it’s better to bet on being right than being wrong.  We are taking the Road Less Travelled.  When you are over here giving specific information, times, dates, things that happened this morning, that is a lot harder road to travel.
Caller:  Give me your hang up button, because I have the guts to use it.
Tony:  I have the guts, I’m just more understanding than you are.
240 caller:  I can hear the quietness myself.  I am kind of confused about caps on different currencies. 
Tony:  There is a not a total cap that I know of.  Before, the contract rates (dinar and dong) were going to be capped at 20 million of each, and $500 million or maybe a billion on the overall zim exchange.  We haven’t heard anything about caps lately because so much has changed.
Caller:  It’s hard to know how to dole out my currency to friends and family without knowing what the caps will be.
Tony:  They don’t want you to know.  They want you to make some hard decisions right now.  That’s why  I have Plans A, B and C, so that when you go to the bank and they lay  it out in front of you, you will have a plan for each option.  Otherwise, most people will take the basic deal, and that way you will not have your money making money…
Caller:  I have heart problems, I’m 62, and clearly I need to start making my plans right now.
Tony:  You probably describe a lot of people out there who are leaders of your family or a group of people.  Bring people into the room, and say “This is my basic plan, and this is what I want to accomplish.  I am teaching you how to fish today;  take this lesson and go out and fish.”  You may not be with them much longer;  I’m preparing my family as if I’m going to go next week.  I never know when I’m going to walk out of the house and never walk back in!  I’m glad I have a plan;  I am teaching them that plan, otherwise 2-3 generations later we’ll be back where we started, which is broke.  I have a bunch of people waiting on me, and that’s fine, but for your own peace of mind, teach them how to fish.  Don’t just do it for your family, show them how to do it themselves.
Caller;  I had to get my pacemaker changed a few months ago and they were surprised I was still living.  I have had mercy for 13 years.  Thank you, and Vegas, Vegas, Vegas!
408 caller:  Any specific intel after the last call?
Tony:  They said after 3pm Monday afternoon… and here we still are.
432 caller:  I saw the dong and rupiah  have been devalued…?
Tony:  I think you mean the yuan and the dong.  China and Vietnam devalued their currencies.  That means the dollar means more to them, but it’s not totally about the dollar. It’s about how this affects the RV/GCR.  It’s creating chaos because the GCR should already be done.  They did it last week, now they are doing it again, and my understanding is that they’ll do it again. Either we do what we say we are going to do, or they will create a change.
Caller:  The guy who was on just before – I can sympathize with him.
Tony:  I wish everyone has health and lives to enjoy this.  I don’t know how much either of you will get, but always expect to live a long time, and also plan for a long time.
Caller:  I inherited from my dad and granddad and my son is gone;  I’m the only one of the four left, and they only gave me a 5% chance to live – three years ago.
405 caller:  What makes you think this timeframe is any different?
Tony:  There is nothing different, except that the banks are all pumped up and told their security to come in Monday morning.  Then they called them back and told them to stay away. Then they called them again at 3pm.  Then there were changes and reforms and Iraq.  I don’t know the one thing that is holding this up.  I do know that the banks have locations set up with security and structures and people in place, and they did that before they even knew how many would be exchanging.  I know that two weeks ago the IMF just didn’t feel satisfied, although I don’t know why.  They want to make sure that Iraq is backed into a corner with laws and people so that if they break out of that box, the IMF can go back in and say that they have broken the law.  They see Abadi eliminates the corrupt ones, and they want to make sure this is irreversible.
Caller:  Does the US still have the majority vote in the IMF?
Tony:  They have a VETO vote, and so do other countries like Russia.  If anyone uses their veto, they have to stop and pay attention.  I do think this will happen. 
404 caller:  How much longer do your sources say it will be before Baghdad citizens will be paid and what was said in the mosques today?
Tony:  I already said it was the quietest day in forever.  I haven’t heard anything from Iraqi sources, mosques, articles or anything else.  It’s now the 19th, and they haven’t paid anyone in Baghdad, or in Parliament.  There is a reason for that and eventually we’ll find out what that reason is.  They have been paid in Kurdistan, and that gives me confidence that this is happening.  They are trying to get this done.  There are no blackouts, we just haven’t communicated. 
219 caller:  I agree with caller #1 and Pam about that guy Monday – I was hoping you would just hang up his line accidentally.  [Appreciation]  [chitchat about Spook, who is better]  The other day you suggested separating the currencies in case we go to different banks – should we still make appointments at different banks for different currencies? 
Tony:  If they are going to be competitive, you might want to go to just one bank.  Which-ever bank you go to first, they will want you to leave all your currency there.  Listen, and you can then say, “Okay, I will leave this amount here, but bank X is offering more over there so…”  This is a negotiation, and you do have choices/options on where to put your money and where to let it go.  The most important things are to get the best rate and to interview them for what they can do for you and your money that no one else can do. What is their specialty?  What are they offering?  What is YOUR plan – when you lay that out, they will see you are serious about your money, and that is the kind of person they want to work with.  They don’t want to work with someone whose going to go out and spend their money in a year.
Be professionally dressed, ready, calm;  make sure you’ve gone through the scenario a hundred times.  Let’s say they offer $4, and that means $4 million dollars for you.  If you have to jump up and down, go out in the carpark.  Much better to say “This is my plan;  how can you help me do it better?”  For instance, I am interested in IPOs and the 3-D industry, so I want to work with a bank that understands those sectors.  IPOs are high-risk if you are doing it by yourself, but low-risk if you are working with the bank that is financing those IPOs or those companies.  Have your own ideas and see how they respond to that.
Caller:  Will you share your ideas about how to spend 100K and still make money?  Pam won’t let me on the forum, RayRen won’t let me on OpenMike – who can I ask?
Tony:  That’s what Vegas was supposed to be about:  future opportunities.  I wanted the chance to bring in some people to show you how annuities work, investing, banks… whichever avenues we use to invest, the money still ends up in a bank, but it makes a different how quickly you can get access to that money and how much it costs.  There are many opportunities out there for you, and hopefully we can discuss that as well as having a party.  Maybe we can have a one-day class, or you all can get together and team up. I know there is something Pam really wants to do:
Pam:  We have been working hard in the forum to educate our members.  While Ray is more qualified over at OpenMike, Daz has given us a lot of information on the forum.  The best thing we’ve found lately is motivational guru Tony Robbin’s latest book:  Money:  Master the Game.  It’s available on amazon.com and as an audio book on YouTube.  Read it, listen to it, spread it to your groups.  You need to get this information before this RVs and/or you do anything with your money.
Tony:  I haven’t read this yet, but reading is fundamental.  You have to educate yourself to take care of your money, and you need to do the same with those who you intend to give money to.  There is a list of books on our forum that will tell you what the real world of finance is like, and how to deal with your money.  Tony Robbins helped me as a motivational speaker when I was in MLM, and I think education is always a good idea.
Caller:  I have several of those books.  [Appreciation]  Your leaderships shows even when you deal with those who are frustrated and asking the same questions.
Tony:  I have a lot of practice at it.  After the last call, Pam called me to complain about the complaints! 
Jerry from Skype:  Is there a minimum amount to get the contract rates? 
Tony:  No, I’ve never heard about a minimum. 
Jerry:  So if I go in with a million, I can negotiate a contract rate?
Tony:  I don’t know.  Let’s be realistic  If the banker can give contract rates to a person with a billion dinar who is willing to leave 40% in the bank for two years, why would they offer it to someone who only has a million who just wants to buy a car and a house?
Jerry:  I listened to Monday’s replay.  That announcement about removing three zeros from the dinar and then a 25K dinar note would equal$75 – is that just in-country?
Tony:  We explained that before.  When the lower denoms came out, the CBI always said that the remaining three-zero notes would be have those three zeros knocked off, so that 25,000 would be worth 25 dinar.  They gave them plenty of time to exchange the at the Iraqi banks for the lower denominations.  They said in the article and all along that this would be the case INSIDE THE COUNTRY.  The important part was saying that the 25,000 note would be worth $75 – that tells us the RATE would be $3 or more.  That article wasn’t for us, it was for the people of Iraq.  It doesn’t apply to us.  Is that clear?
Jerry:  My people were asking, so I felt compelled to ask that question.  And I agree with Pam:  like it says in Napoleon Hill’s books, you have to align yourself with people who make you understand the principles of money, people who are what you want to be.
860 caller:  Do you know if Abadi is in-country or out?
Tony:  My understanding is that Abadi is in-country.
Caller:  What is happening with ISIL and all of that?
Tony:  I don’t know a lot about that.  We haven’t been discussing it that much.  Their view is that it isn’t really that bad, that they will be out of Mosul in 30 days.  There are things going on over there that we are not seeing in the news, and things we shouldn’t talk about, but I think it’s well in hand.
Caller:  [Appreciation]  Vegas, Vegas, Vegas!  You betcha!
410 caller:  I appreciate how well you handle the complaints.  I know your purpose to get everyone educated, and your patience is a lesson in itself.  About four calls ago, I missed something about ‘getting ready’ and about deciding how much currency to take to each bank. I know we have currency and visit banks, but I got the impression you meant about exchanging at each bank – or did you?
Tony: Some people don’t like to put all their eggs in one basket.  Some bank people have said they want to ‘out-big’ everyone, and that is what I want.  It is also a tactic to find out  what each bank will offer you and then go where you think you will get the best deal and figure out where you might want to consolidate your holdings.  You can ask for each currency’s rate and/or for your sum total.  Nine times out of ten, if you know the rate at a rival bank, the bank you’re at will match it, because they want your business.  It’s just about being smart because this is the only time you will be exchanging this.  Then comes the hard part, which is putting your money to work.  Each bank will have already worked out a package;  they know the  kind of customer they want.  You should be looking at each bank’s offerings right now, while you have downtime, so that once it happens you will be ready with your plan, and able to see which bank matches it the best.
Caller:  I see.  I couldn’t see exchanging here, and here, and here, and then negotiating.  I can see listening to the bank’s offer and saying I’ll go next door.
Tony:  If you’re not comfortable, don’t do it.  If someone gives you an ultimatum, don’t do it.  If someone says “take it or leave it”, then I will leave it. This is the only chance you have to exchange, and bank X is not the only place to do your exchange. Don’t use being scared as a motivating factor to sign over your currency.  Work with a bank where you have mutual respect, where you trust the wealth manager, or you like their package.  The manager works for the bank, and they have to be paid to survive, and there is nothing wrong with that. 
Caller:  I look forward to the next call being a farewell call.  Vegas, Vegas, Vegas!  I hope everyone who has helped is able to be there.
Tony:  I think it would be great for everyone to be there – good for us and also for the banks and investment houses.  It’s not every day you can get a bunch of millionaires together and give them your best presentation.
318 caller:  I have some military connections who say “Hold on, it won’t be much longer.”  My son is in the military and his father was been for over 30 years. 
Tony:  I’m getting exactly that message as we speak!
Caller:  My friend wants to know where Maliki is… and Vegas, Vegas, Vegas!
Tony: I understand that Maliki is in Iraq and likely to be for a while.
773 caller:  Abadi sent out a lot of tweets saying the Iraq depends on its oil production and that people shouldn’t worry because they are protecting the oil fields, etc., and that Iraq has investment opportunities.  Are the oil fields being developed?
Tony:  Iraq does have existing contracts, and they are protecting the rest.  ISIL only has one oil field, I think, and maybe not even that one any more.  Those we talk to over there say that they can see the difference.  It’s turning quickly from a war zone into a growth economy, they just don’t have the money.  They are seeing a mindset being hanged as Abadi builds confidence in the country. 
Caller:  I see the US Embassy has started issuing visas.  Is Iraq like a pre-IPO?
Tony: Yes, that is why they are changing the laws, the government, etc., so that people can feel more confident investing in Iraqi confidence, which we are allowed to invest in according to EO 13303.  Iraq wants us to invest there, and not just the US, but also China, England, etc.
Caller:  And those of us on OpenMike are lovely – not privileged.  Why do you beat up on us, Tony?  OM is just closed, like the TNT forum.   Also, how do we ask the banks about what investment packages they offer?
Tony:  Just tell them you are about to inherit some money, and ask what they can do for you.  Do that at each of the banks.  It’s better to do that now, than in the 20 minutes you’ll have at that first exchange appointment.
352 caller:  I’m doing delightfully, thank you.  I’m a first-time caller, and I have a question for those who are new.  Fro those who are familiar with trusts, foundations and MCAs, but don’t have the money to set them up beforehand, what one or two things would you  suggest to protect your money until you can make those arrangements?
Tony:  You can set up a skeleton trust, and get an EIN (tax ID number) the same day. That is enough for you to put the currency in the name of your trust.  There are many attorneys who can advise you on how to start a trust very simply, and then change it afterwards.  Hopefully you don’t get sued as soon as you get any money!  The first thing on your plan could be to have your attorney lined up so that the very day of your exchange, you can get that trust or foundation set up. That’s what I would do.
Caller:  People are concerned about those first seven days, for instance.  Is there any particular kind of account you should put that money into?
Tony:  Those are great questions, and they can be freely answered at any bank.  You just have to walk through the door, sit down with someone, say “this is about to happen” such as an IPO or inheritance, “I’m looking at the next 10-15 days, and I want some kind of holding account while I figure out what to do.”  Any bank can advise you on that.
Caller:  Thank you.  I thought those who couldn’t’ get on the forum would like those answers directly from you.  Vegas, Vegas, Vegas!
Pam:  Daz and I chatted during the call, and Tony Robbins spends about two hours talking about some of these same things.  HE strongly suggests using a fiduciary, meaning people who owe a strict primary duty of care to their primary, without conflict of interest with (say) a bank or investment house.  We will post this in the Tony Blast section so non-members can get this information, too.  You really need to get this!  And I believe that Tony Robbins is donating the proceeds to some good cause.*
Ray:  Hold on.  It will be here when it gets here.
Tony:  Everything is good, no bad news at all.  Everyone is prepped and ready to at any moment. I don’t know what they are waiting for.  The laws and reforms have been passed and presented to the people.  There have been meetings. I don’t know if Vietnam and China’s actions have delayed this.  There might be something minor, but even on Monday evening everyone was excited that this is happening.  It can only be something minor.  I pray I won’t be here on Friday, that this will be over long before then.  Enjoy the rest of your day;  I will enjoy mine.
[*I looked this up after the call, and Tony Robbins IS donating all the proceeds from Money:  Master the Game to Feeding America’s 100 Million Meal program.  Go, Tony!]

BACKDOC UPDATE, 19 AUGUST

Backdoc » August 19th, 2015, 12:09 pm

I MENTIONED MONTHS AGO THAT THE BRICS WOULD BE CRUSHED BY BLACK GOLD PRICES DROPPING!

YOU ARE NOW SEEING CHINA BEING IMPACTED AS WELL. THIS IS WHAT BEING MARGINALIZED LOOKS LIKE!

WHAT WE ARE NOW SEEING IS THE BEGINNING OF THE NEW LANDSCAPE, WHERE TRADE CONTROLS COUNTRIES' CURRENCIES AND EXTRACTION COSTS DETERMINES THE WINNERS AND LOSERS!

REALIZE THE WAR WILL GET IN FULL BLOOM IN LATE NOVEMBER WHEN IRAN WILL RAMP UP TO FULL CAPACITY AS THE WORLD LETS THEM FLY LIKE A BIRD!

THEY WILL BE AT 100% CAPACITY WITHIN 3 DAYS AS COMPARED TO 15 YEARS AGO WHEN THEY WERE AROUND 1.2 MILLION BARRELS PER DAY!
....
REMEMBER THEY HAVE BILLIONS OF BARRELS STORED READY TO SELL.

REMEMBER I TOLD YOU THIS WHEN I WROTE THE MATRIX!

WITH THE UN,UK,CANADA,AND THE SWISS RELEASING THEM FROM SANCTIONS, THE FUSE OF THIS ECONOMIC BOMB HAS BEEN LIT!

AS WE APPROACH MID SEPTEMBER WE WILL SEE A MELTDOWN IN WORLD MARKETS.

A COUPLE OF ADDED PRESSURES BESIDES BLACK GOLD DROPPING WILL BE THE FED ANNOUNCEMENT ON RAISING INTEREST RATES, AS WELL AS OUR CONGRESS ANNOUNCING THEIR DECISION ON THE IRAN DEAL!

REGARDLESS OF CONGRESSES' DECISION WE SHOULD ALSO SEE A DOLLAR CRASH AFTER THE MARKETS MELT DOWN!

OF COURSE THIS IS JUST DING DONG DOC'S OPINION!    DOC

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

Walkingstick :  Cash-Strapped Venezuela May Sell Off Gold, Citigroup Says

Countries facing cash shortages may be tempted to sell part of their gold reserves to raise funds, according to Citigroup Inc., which cited Venezuela as a potential example amid concern it may default.

The South American nation is one country that may be at risk of selling part of its holdings after oil fell and commodity prices weakened, analysts including David B. Wilson and Aakash Doshi, wrote in a report. Calls by Bloomberg to Venezuela’s central bank and the media office at the finance ministry outside normal office hours weren’t answered.

Gold retreated to a five-year low in July as the dollar rallied on prospects of higher U.S. interest rates. Sales of bullion by governments may add to pressure for weaker prices even as other central banks, including China’s, expand holdings. Should Venezuela sell part of its gold, prices could see lows maintained, according to Wilson and Doshi.

“I don’t think many central banks will be that tempted,” said Aberdeen Asset Management Plc’s Edwin Gutierrez, who helps oversee $13 billion as the head of emerging-market sovereign debt. “Someone as desperate as Venezuela, absolutely, because they don’t have recourse to many other options.”

Venezuela gets more than 95 percent of its export revenue from oil, and the slump in crude prices has stoked concern that the nation may face difficulties paying debt. Still, there’s a low probability of default this year, according to Barclays Plc.

Bank Holdings
Venezuela had 11.607 million troy ounces of gold as of September, according to data from the International Monetary Fund. About 68 percent of the country’s reserves are in bullion as of August, according to the Citigroup report.

“Cash-strapped nations could trigger further downside price risk as the temptation to sell gold reserves mounts,” the Citigroup analysts said in the Aug. 18 report. “Venezuela is one such country at risk.”

Gold for immediate delivery traded at $1,123.65 an ounce at 4:06 p.m. in Singapore, 5.1 percent lower this year, according to Bloomberg generic pricing. Citigroup maintained its forecasts in the report, predicting prices to average $1,090 this quarter as the Federal Reserve would probably start to tighten.
Venezuela “appears poised for a near-term crisis” amid protests and shortages of basic goods as the country heads for parliamentary elections in December, according to RBC Capital Markets Ltd. The cost of insuring the government’s five-year bonds has rebounded to near a 12-year high.

In 2011 and 2012, Venezuela’s government repatriated most of bullion that it had held in overseas banks. The move was ordered by then-President Hugo Chavez as a safeguard against instability in financial markets.

“The problem is most of the Venezuelan gold is located in Caracas,” Aberdeen’s Gutierrez said by phone from London on Tuesday. “No bank is going to take collateral for gold that’s actually held in Caracas.”

http://www.bloomberg.com/news/articles/2015-08-19/cash-strapped-venezuela-may-sell-gold-reserves-citigroup-says
Venezuela's currency is now so worthless that people are using it as napkins

Aug. 18, 2015

An image is going round that sums up just how ridiculous Venezuela's economy has become.

A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada.

According to Venezuela's official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20).

But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.

Dolartoday.com'srt shows just how the value of the bolivar has plunged, with more and more units of the Venezuelan currency required to get hold of a single dollar:

This time last year, the bolivar was far more valuable, and even as recently as May this year, you could still get hold of a dollar for less than 300 bolivars. Today, you need more than twice that.

The country has a spiralling inflation rate. Official inflation is high enough, at 68.5%, but like the official exchange rate, that paints a much rosier picture than reality. Professor Steve Hanke, who runs the "Troubled Currencies Project," a joint program between the Cato Institute and Johns Hopkins University, says in reality inflation is more like 808%.

The country is a major oil exporter, and the plunge in prices is a huge part of what's causing the crisis — as a result, the country is pegged as having the riskiest debt in the world, with the highest likelihood of a future default. Food is increasingly hard to get hold of, shop shelves are often empty, and the country's social order is deteriorating.

The country is heading into a parliamentary election in December, which will not unseat President Nicolas Maduro but could give the opposition a parliamentary majority for the first time since Venezuela's 1999 constitution came into force.

Read more: http://uk.businessinsider.com/venezuelas-currency-is-now-so-worthless-that-people-are-using-it-as-napkins-2015-8#ixzz3jGERzG4Q

MY LADIES CHAT MORE UPDATES, 19 AUGUST

Late Tuesday Night:

MY LADIES:  DID WE SEE WHAT PRINCESS BROUGHT IN DURING OUR TALK OF THE USD???

Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department

http://www.usnews.com/news/business/articles/2015/08/18/iraqs-economy-battered-by-islamic-state-war-low-oil-prices

PrincessDD: : Another article on the bonds saying September

Iraq is getting ready to sell $6 billion in debt.
....
According to a report from Bloomberg on Tuesday, Iraq is preparing to offer bonds at some point this year in what would be its first debt sale in nearly 10 years.

Bloomberg, citing people familiar with the program, said Iraq plans to meet with investors as early as September.

Read more: http://www.businessinsider.com/iraq-issuing-6-billion-in-debt-2015-8#ixzz3jDDy1Of5

Princess DD: So we could be looking at another couple of weeks

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

MVL:  Agreed. My understanding has been that the banknotes thing is a longer program. That said, the bond sale is different. And they have to have a rate for that, because it's different than the municipal bonds they can do now in-country.

I've read that the IMF gave them a few billion earlier this summer, but my guess is they're broke, and need to get this bond sale in the books.

JG:   Okay, help me out here...this is the second article regarding the bond sales ...twice I read that the investors are meeting to discuss the sale as soon and September and that these bonds will be sold at some point this year...no where do I read that the sale will be "in September"....??????

MVL:  I actually think it could happen at any time, and here's why: Proof of that, is what the Swiss did this past week with Iran. It's been said here that Iraq and Iran are mirrors of each other. The Iranian progress recently has been nothing short of amazing.

This, in my mind, is generating positive pressure for Iraq. We've also heard that the mechanisms are already in place for both sides of that street.

Proof for me in that, is that Iraq has stated publicly that they are even having an international bond sale. That alone screams volumes. The timelines in the headlines, I think, are simply there for context.

I maintain that for the Middle Eastern culture, at that level of finance, they'd never claim something unless the minion work was already done. Too much of a risk losing face otherwise. Their actions will trump any words the media throws our way is my take on it.

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

Early Wednesday Morning:

MY LADIES:  Vietnam devalues dong to protect exports, offset China's yuan actionhttp://www.reuters.com/article/2015/08/19/vietnam-economy-dong-idUSL3N10U1R620150819

3X THE DONG DEVALUED THIS YEAR ALONE. VIETNAM SETTLES IN THE DOLLAR, THEY CAN AFFORD TO CONTINUE DEVALUING THEIR CURRENCY AS THE MARKET CHANGES TO KEEP THEIR ECONOMY STABLE.

ANY THOUGHTS OF A PRICE INCREASE ARE JUST CRAZY. IF ONLY DINAR LAND UNDERSTOOD MATH!

IF ONLY DINAR LAND UNDERSTOOD MATH! INDONESIA RESET DOWN 2X SO FAR THIS YEAR TOO, THE YUAN IS SETTING THE PACE IN ASIA.

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

MY LADIES:  RE: PrincessDD:  The Fed Against the World  Janet Yellen to raise rates in September http://www.bloomberg.com/news/videos/2015-08-18/jpm-s-amoroso-says-it-s-the-fed-against-the-world

YELLEN MAY BE ALONE AGAINST THE WORLD BUT SHE CAN TAKE IT.

THE LIKELY HOOD OF A RATE INCREASE HAPPENING IS VERY GOOD. I THINK THOSE DECISIONS ARE MADE ON WHAT’S BEST FOR US NOT WHAT’S BEST FOR EURASIA

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

MY LADIES: http://www.nytimes.com/2015/08/20/world/europe/angela-merkel-german-parliament-greek-bailout.html?_r=0

THE SAGA CONTINUES. THEY CAN VOTE AS OFTEN AS MAKES THEM FEEL GOOD. IN THE END THIS ALL DOES NOTHING. THERE IS ONE SOLUTION AND THE TIMEING MUST NOT BE QUITE RIGHT FOR IT.

THE SOLUTION IS FORGIVE THEM THEIR DEBT AND LET THEM LEAVE. ALL THIS VOTING AND BRUE HA HA IS IN AN EFFORT TO HOLD THE EUROZONE TOGETHER AND THAT’S NOT THE END GAME PLAN.

MY LADIES:  THE IMF IS STILL NOT ON BOARD..AND HOW LONG WILL THIS DRAG OUT BEFORE THEY GET THE MONEY... I DON'T THINK THIS IS GOING TO FLY

Greek Bailout Moves Ahead After German Parliament Backs Programhttp://www.bloomberg.com/news/articles/2015-08-19/germany-set-to-approve-greek-aid-after-merkel-lobbies-lawmakers

Bailout opponents argue Greece is in a debt trap and that policy makers are bending euro-area rules to hold the currency union together. Bild, Germany’s most-read newspaper, said in an editorial opposing the program that “it doesn’t offer a rescue -- not for Greece, not for the euro and certainly not for Europe” after “five wasted years of rescue policies.”

“Greece won’t make it in the euro zone and we won’t succeed at keeping the euro zone together by force against the will of the people”

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

PrincessDD:  Besides, Germany is profiting off of Greece.

PrincessDD:  Chinese Stocks Continue to Collapse As World Economy Prepares for Nosedive http://www.armstrongeconomics.com/armstrong_economics_blog

MVL:  Speaking of debt, Martin Armstrong  has a post this morning discussing just that. His take is investing in U.S. government debt is ok up to two years out. He doesn't recommend any foreign government debt. My thinking is Silk Road infrastructure debt is different, and separate from sovereign debt. Or am I wrong? Silk Road investment certainly appears to be a great way of diversifying a portfolio. Iraqi and Iranian bonds, however, still intrigue me.
More Around the World News:

Princess DD: Emerging markets rocky, dollar dips before Fed minuteshttp://www.reuters.com/article/2015/08/19/us-markets-global-idUSKCN0QO01I20150819

Princess DD: How China's slowdown is affecting Africa

Over the past few decades, Africa's resource-rich nations have attracted massive investments from fuel-hungry China. But its recent slowdown has left Africa increasingly vulnerable, as economist Oliver White explains.
 http://www.dw.com/en/how-chinas-slowdown-is-affecting-africa/a-18657923

Princess DD: China's stock volatility rattles investors http://www.cbsnews.com/news/chinas-stock-volatility-rattles-investors/

Princess DD: Im seeing that bond article came out earlier this year in March

Iraq, banks in talks for $6bn bond issue   http://www.gulf-times.com/eco.-bus.%20news/256/details/429314/iraq,-banks-in-talks-for-$6bn-bond-issue

Princess DD: I guess thats the first time they were thinking of doing it. Now they seem to be finally moving forward with it.

Princess DD: The first article about them getting their credit rating so they could sell those bonds came out in May. So it looks like all of that got done and they are finally ready for it.

Iraq seeks credit rating before jumbo bond issue   http://www.gulf-times.com/eco.-bus.%20news/256/details/437480/iraq-seeks-credit-rating-before-jumbo-bond-issue

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

Princess DD: China's Stock Market Plunges 6.2% Today amid New Yuan Concerns
https://moneymorning.com/2015/08/18/chinas-stock-market-plunges-6-2-today-amid-new-yuan-concerns/

Princess DD: China devalues yuan (3.5%) - a threat or an opportunity for India markets?
http://economictimes.indiatimes.com/articleshow/48540508.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Princess DD: Currency manipulation? Markets agree that Chinese yuan worth lesshttps://www.reviewjournal.com/opinion/currency-manipulation-markets-agree-chinese-yuan-worth-less

Princess DD: UPDATE 2-Vietnam devalues dong to protect exports, offset China's yuan action  http://www.reuters.com/article/2015/08/19/vietnam-economy-dong-idUSL3N10U1R620150819

Princess DD: Opinion: Good news: Devalued Chinese yuan may stop Fed rate hikeshttp://www.marketwatch.com/story/good-news-devalued-chinese-yuan-may-stop-fed-rate-hikes-2015-08-19

Princess DD: China's devaluation may be bad news for FX industry  Read more:http://www.businessinsider.com/r-chinas-devaluation-may-be-bad-news-for-fx-industry-2015-8#ixzz3jGBRYKhU

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

Princess DD: I read yesterday that the YEN will be replaced by the YUAN In the SDR basket.

Princess DD: Has Greece Gone From Crisis to Market Opportunity?http://www.bloomberg.com/news/videos/2015-08-19/has-greece-gone-from-crisis-to-market-opportunity-

Princess DD: German Lawmakers Vote YES to Greek Bailout (5 min ago)http://www.bloomberg.com/news/videos/2015-08-19/german-lawmakers-vote-yes-to-greek-bailout

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

PrincessDD:  Can Iran Be an ‘Upcoming Star’ for German Industry?   http://www.bloomberg.com/news/videos/2015-08-17/energy-stocks-have-big-upside-potential-parker

Princess DD: What To Watch: China, Vietnam, Greece http://www.bloomberg.com/news/videos/2015-08-19/what-to-watch-china-vietnam-greece

Princess DD: Norway Oil Fund: Monetary Policy, China Are Main Issueshttp://www.bloomberg.com/news/videos/2015-08-19/norway-oil-fund-monetary-policy-china-are-main-issues

Princess DD: Russia & Iran reach agreement on S-300 air defense systems delivery – deputy foreign minister    https://www.rt.com/news/312804-russia-iran-s300-delivery/

Princess DD: Japan and Iran are preparing for deals after nuclear sanctions end   Read more: http://www.businessinsider.com/r-japan-iran-to-discuss-investment-pact-after-sanctions-end-nikkei-2015-8#ixzz3jGGOAQan

Princess DD: Iraq plans $6bn bond sale amid oil drop, civil unrest (2 hrs ago)http://www.gulf-times.com/eco.-bus.%20news/256/details/451692/-iraq-plans-$6bn-bond-sale-amid-oil-drop,-civil-unrest

Princess DD: European markets close lower after China plunge   http://www.gulf-times.com/eco.-bus.%20news/256/details/451674/european-markets-close-lower-after-china-plunge

Singapore bankers rattled by Asian moves to chase undeclared wealth   http://www.gulf-times.com/eco.-bus.%20news/256/details/451685/singapore-bankers-rattled-by-asian-moves-to-chase-undeclared-wealth

DINAR GURUS UPDATE, 19 AUGUST

8-19-2015   Intel/Newshound Guru tman23  Actually what we are seeing is not at allsurprising... June was the end of the road...and we are witnessing the change of dynamics in warp speed...There is a time limit and it is Oct 1st... But there are a host of world events tied into this timeline ...which are quite coincidental if you believe in such! ...there are so many documents that were set with this date from different resources. 

8-19-2015   Newshound/Intel Guru BGG 
 Article quote:   "...the mini-financial committee set up by Parliament to follow up on money laundering in the central bank file or transfer large sums of money out of the country accuse Maliki of being behind it."  Stunning news...Maliki was involved in the largest money laundering operation in Iraq...they actually pinned the Money Laundering / Embezzlement directly from the CBI ON HIM!!

8-19-2015   Newshound Guru Kaperoni
   Article:  "Jubouri: The second package of reforms will contain a lot of detailed important decisions"   We can see now that these various committees are being formed to present to the PM reforms. And the second package appears to begin to including banking reforms..specifically mentioned here "guarantee deposits." This brings me to the committee that met yesterday discussing the currency... We could be seeing the beginning of many steps to improve the economy, strengthen the banking system and improve the value of the currency. It will be interesting to watch these packages of reforms over the next several weeks and how they are implemented.

8-19-2015   Newshound Guru Millionday
   ABADI HAS POSTPONED HIS CHINA VISIT TO ACTIVATE REFORMS...THE TRIP TO CHINA...WAS TO BE IN THE MIDDLE OF REFORM ACTIVATION...   RIGHT NOW ALL THAT IS IMPORTANT TO ABADI IS TERRORISM AND THE ACTIVATION OF THE REFORMS. THE GOAL IS THE FIRST OF THE MONTH...SEPT 1ST ACCORDING TO REPORT...FOR THE REFORMS TO BE ESTABLISHED... HE DID NOT SPECIFY JUST SOME REFORMS -- IMO -- HE IS STATING ALL REFORMS AS THEY [THE REFORMS] WORK TOGETHER.

KTFA NEWS SUMMARY, 19 AUGUST

Wednesday News Summaries and Commentaries

Wow was I ever surprised to wake up this morning to discover that Maliki may have actually returned to Iraq on his own.....wonders never cease....

Meanwhile the hunt for those accused of corrupt ways continues and the trail to ill-gotten money that leads abroad is having Iraqi officials contact foreign counterparts to get the money returned to its rightful country and owners....the money keeps pouring back in to Iraq.....

Meanwhile Maliki and family may be on the hook for the lions share of the corruption when it comes to money that was grafted off the top of Iraqi accounts....not a good time to have the name Maliki I would think....."where did you get that?"......will soon become "Just do it Abadi".....nail them to the bank doors they stole from....

Garbage day is fast approaching....just toss them out with the trash, never to return in any capacity.
....
After the abolition of his post and moving to convict him judicially .. Maliki in the face of the unknown

The "Unknown".....well maybe in his warped mind....but we know the things he will face.....the court, probably a military court or tribunal on the fall of Mosul.....then criminal court for who knows how many counts of corruption, fraud, graft, murder and the list of other lessor charges wraps around the block....it seems he is wearing out the title of VP.....sad but true you are the man who would not be king....

Even the other two former VP's appear to be turning against him....they recognize the smell of a snake....the head of the investigating commission for the fall of Mosul is standing tall and adamant in his commission's decision and list of names, there was no hanky-panky, no one was coerced, so Maliki can just back off from his own accusations about the commission's work.

Maliki was involved in the largest money laundering operation in Iraq

Is it any surprise to anyone that Maliki would be accused of involvement in the largest money laundering operation in Iraq....the head cheese....the kingpin.....he and his family all in it together.....just follow the list of foreign bank accounts and I am sure there are many....the dominoes are beginning to topple and once they start they will gain a momentum that may just rival the flow of the lava....watch the money that is found and flows back to Iraq......they will be saying......what deficit....thanks to Maliki's bank account our deficit has been alleviated.....now let us make the next move in the reform waves and give back to the citizens of Iraq as we also help the world.

Abadi reforms ... popular demand complex in execution

PM Abadi continues with his reform plans as well as his choice to listen to the people who are demonstrating on the streets....he showed on Tuesday that his cuts work within his own GOI as well by eliminating 11 positions within the COM....he also consolidated several ministries all in an overall attempt to establish a government that is better able to manage and is not stagnated by too many trying to make decisions.....this also will streamline the budget process as it carves out huge amounts of salaries and overhead associated with the head count that has been or is being removed from the accounting files.....watch for more of the Abadi waves of reform as the week progresses.

US companies have indicated their willingness to support electricity projects in Iraq


An unbelievable generosity being shown by US companies in helping Iraq with their continued electrical problems.....this comes on top of their spending small fortunes in Iraq over the past 12 years for naught.....money that likely ended up in the pockets and bank accounts of corrupt officials.....only now is it possible that money and efforts given to Iraq will go to their rightful purposes to bring power generation sites to those areas of Iraq in need, providing electricity to many Iraqi homes and businesses for the first time.

Deputy: the arrival of the new salary system to the Parliament and vote on it within a month


Look for a new salary grade system to be voted upon in Parliament and implemented within the next month....ok, we will be watching to see how this will work so efficiently.....pay cuts for many, pay increases for those on the bottom of the scale....will be interesting to see how this works for them.....I have my opinion but will keep it to myself for the time being.

Kurdish Parliament holds emergency meeting on time today

The Kurdish Parliament held an emergency meeting today.....or did they just get together to agree to postpone the emergency meeting until everyone can get up to speed about what the emergency is all about.....looks like they are wanting to modify part of the provincial law that may have to do with the Kurdish President....maybe putting in language that will allow President Barzani to stay in office for this current term....who knows.

Jubouri underlines the importance that the reform in accordance with the constitutional contexts
A delegaton from the National Coalition bloc met with Speaker of Parliament Jubouri to talk about the reforms that PM Abadi is bringing before Parliament....seems they want to be reassured that what gestures may be forthcoming from Parliament meet the intent of the Constitution and that they are doing things within the confines and jurisdiction that is allowed of Parliament....

I am sure that Jubouri was strong in his stance that the actions taken by both Abadi and Parliament are well within the legal confines that are defined by the laws within the Iraqi Constitution....no one wants to get caught at this point or accused of any corrupt activity.....keep it all on the table in plain sight and completely above board.....oh and remember.....do it once......do it right......do it well.....so there is no need for a repeat of anything.

Parliament: House of Representatives would cut salaries by 45% starting this month

You got too big for your britches.....now we need to trim the tree....45% of a trim in fact....get ready for it starts on the 28th of August.....hope you already made that payment on the new Audi or BMW.

Restart operations banking relationships between Iraq and Iran


Well it didn't take long for the Iranians to get their gumshoes over the border to talk with the Iraqi banking officials to get their banks back online in Iraq....seems the Iranians know a good deal and for sure want to be "there" when "it" happens.....they want in on the profits and rewards to be made.....or was this some kind of good will gesture meant on behalf of Maliki....who knows.

Turkey: Maliki's sectarian mentally ill


The Turkish government is saying after hearing of Maliki's ranting that he must be mentally ill to make such claims.....they claim that Maliki's words go against reason and logic....they are quick to point out the 70,000 or so troops that were under Maliki's command who fled in the face of 1,500 terrorist troops.....they say that Maliki is right where he needs to be.....at the top of the list of those responsible for the fall of Mosul and the deaths of thousands of Iraqis.

Refer the judiciary 121 judge and member of the general allegation to be investigated

So this study has looked into the number of judges and members of the court that have been investigated in the past 5 years....wondering here just how accurate that number can be....how many were investigated in the past 12 months...that might be a more accurate portrayal of real numbers.....

Who can trust any investigation that was done under Maliki's leadership....sorry but the truth hurts.....only a handful were stripped of their positions out of this 121.....seems odd in light of the high numbers of other government officials being accused of corruption at this time....but in the end remember what PM Abadi has to say....."we will defend no one who is accused of corruption activities."

Kaabi: we put a mechanism to curb the smuggling of some private banks of hard currency
A member of the Finance Committee says they have, in conjunction with the Ministry of Finance and the CBI, put mechanisms in place that will detect attempts at smuggling hard currency outside of Iraq.....no more falsifying books....buying fictitious toys or replacing quality products with shoddy junk that costs a fraction of what the invoice product costs....it's time to pay the piper and shut the bad guys down....completely.

A member of the parliamentary legality: Finance and Planning's recommendation in 2016 to complete the budget before the end of December

The Legal Committee within Parliament working in conjunction with the Finance Committee wants to get the 2016 budget in front of Parliament before the end of December....knock yourselves out....just get it done and bring some realistic numbers to the table for a change.

Deputy: We're going after the corrupt and restore the funds looted and smuggled abroad

Ok it is time to stop kicking the can down the road....serious work here fellow Parliament members....we have before us a plan for reform from PM Abadi and part of that plan includes the pursuit of those who stole funds from the Iraqi government and Iraqi people.....let's go get them, no matter where they have attempted to hide....we want to prosecute them but we also want and intend to bring any funds taken back to Iraq where it rightfully belongs....

Now is the time for swift and positive action to bring the dirty handed dogs to justice.....and the money has started to roll back in....the bank coffers are filling up with this newfound money.

Maliki returned to Baghdad after the conclusion of his visit to Iran

OH MY....catch me for I am about to faint......did I read that right....someone else read it....Maliki actually returned to Iraq.....maybe the Turkish leaders were right, he's gone insane.....that must be it he's laying the grounds for a plea of insanity by returning right to the very source of all his crimes.....returning from an "official" visit to Iran....my foot.

Deputy for Law: Maliki will return to Baghdad and what is said about his escape from the slander trial

Slander trial.....what slander.....oh sure some ambulance chasing lawyer has convinced Maliki he has a snowball's chance in Iraq to win such a trial....indeed he must be bonkers to believe that.....but is it really true that he's back home to face charges.....anyone got a photograph.....wonder if he was or will be taken into custody upon arrival......or served with an arrest warrant.....to the "clink" for the Colonel.....LOL.

Catch and prevent unexpected travel for the owners and his co-defendants fall of Mosul diary

Let the Judicial make the call on how those 34 or so will be brought in to stand trial for their crimes against Mosul and the Iraqi people...this list includes the name of Maliki.....just meet him at the airport.....he will think it is his own supporters meeting him upon his return with open arms....he will fail to see the handcuffs at the ready because he will focus so intently upon all the smiling faces.....I'm sensing a military tribunal for Maliki and his other leaders who were affiliated with the armed forces of Iraq....not a good thing for them I would suspect.

Deputy: the elimination will be issued memoranda arrested and travel ban against the accused fall of Mosul

I'm wondering is someone making up a new deck of playing cards.....we definitely have a new joker in this deck....as Mr. Favor used to say....."Rowdy Yates, round 'em up and move 'em out"......count 'em as they hit the cells....no more travel plans, no more international banking privileges....just cold beans and hard bread.

Economy and Investment: We found a mechanism for Customs substantial economic Bmrdodat

It seems the Economic and Investment Commission thinks they have found another way to skin the customs tariff cat....and generate significant economic returns in the process.....well knock yourselves out if you think you can get all provinces to play this new game and play it fairly across the board.....Kurds, Basra, Anbar and the like all playing on the same field at the same time.....they seem to be hinting about tariffs for products moving in and out of the country....how is that going to work to anyone's benefit.

Iraqi leadership ignored the intelligence leading up to the fall of Mosul


Iraqi leaders ignored reports of DAASH buildups near Mosul....more likely they supported those buildups.....they definitely did nothing to combat them....commanding their own forces to turn tail and run before the first shots were fired....but at least they put the blame squarely on the shoulders of where it belongs....Maliki....and of course what fell there rolled down hill to a great extent.

Khilani calls for Maliki to appear before the court and is accused of the fall of Mosul to Irbil "evasion"

Some are calling upon Maliki to return and face his accusers.....try to exonerate himself from the charges that he faces rather than stand like a coward on some foreign soil and point fingers at others.....this will get dirty before it is all over.....it will not be pleasant to watch I fear.

State of Law: Iran is making contacts to contain the crisis resulting from the issuance of the results of the investigation the fall of the city

Maybe Iran has secretly send an envoy to Iraq in an attempt to squash Maliki's name from the list of those responsible for the fall of Mosul....but the problem is...that list has been shared publicly and the world knows who's name leads the list......so how do you explain his sudden removal from it.....I don't think PM Abadi will stand for that......threat or no threat from the Iranians.....the world knows.
"Cash" is expected to exacerbate the deficit and the debt of Iraq

The IMF in their latest reports is not painting a very bright picture for Iraq as things stand today....they are saying that with the fight against terrorism and the continued fall of oil prices that Iraq's deficit gap is widening.....sure they expect some growth this year over the contracting that was experienced last year and more growth into 2016 and 2017...but it will not be enough to overcome the debt that continues to amass.....will PM Abadi's reform plans be enough to turn things around.....can they build a debt snowball that will be meaningful and head off the poor house.

Fears of al-Maliki to use militias gained to ignite the country


All the more reason to provide a swift lock up for Maliki and his henchmen.....don't hesitate and give him any opportunity to strike.....put him in a cell completely away from any outside contact.

Maliki threatened on charges of laundering more funds in the administration of Iraq

PM Abadi is working with a commission to delve into foreign accounts of Maliki, his family members, and other close associates....open these accounts and ask the question....."where did you get this"......make him cough up the answers...and meanwhile serve him with an arrest warrant....put him in a dark cell without any outside connection.....create a ring of total silence around him that cannot incite any kind of action by supporters.

Let's bring a stop to this particular list of news for now and see what the rest of the day might bring to us....should be interesting I am sure.   Aloha     Randy

MY LADIES CHAT UPDATE, 19 AUGUST

MY LADIES: DID WE SEE WHAT PRINCESS BROUGHT IN DURING OUR TALK OF THE USD???

Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department

http://www.usnews.com/news/business/art ... oil-prices

PrincessDD: : Another article on the bonds saying September

Iraq is getting ready to sell $6 billion in debt.

According to a report from Bloomberg on Tuesday, Iraq is preparing to offer bonds at some point this year in what would be its first debt sale in nearly 10 years.

Bloomberg, citing people familiar with the program, said Iraq plans to meet with investors as early as September.

Read more: http://www.businessinsider.com/iraq-iss ... z3jDDy1Of5

Princess DD: So we could be looking at another couple of weeks

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MVL: Agreed. My understanding has been that the banknotes thing is a longer program. That said, the bond sale is different. And they have to have a rate for that, because it's different than the municipal bonds they can do now in-country.

I've read that the IMF gave them a few billion earlier this summer, but my guess is they're broke, and need to get this bond sale in the books.

JG: Okay, help me out here...this is the second article regarding the bond sales ...twice I read that the investors are meeting to discuss the sale as soon and September and that these bonds will be sold at some point this year...no where do I read that the sale will be "in September"....??????

MVL: I actually think it could happen at any time, and here's why: Proof of that, is what the Swiss did this past week with Iran. It's been said here that Iraq and Iran are mirrors of each other. The Iranian progress recently has been nothing short of amazing.

This, in my mind, is generating positive pressure for Iraq. We've also heard that the mechanisms are already in place for both sides of that street.

Proof for me in that, is that Iraq has stated publicly that they are even having an international bond sale. That alone screams volumes. The timelines in the headlines, I think, are simply there for context.

I maintain that for the Middle Eastern culture, at that level of finance, they'd never claim something unless the minion work was already done. Too much of a risk losing face otherwise. Their actions will trump any words the media throws our way is my take on it.

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Early Wednesday Morning:

MY LADIES: Vietnam devalues dong to protect exports, offset China's yuan actionhttp://www.reuters.com/article/20 ... R620150819

3X THE DONG DEVALUED THIS YEAR ALONE. VIETNAM SETTLES IN THE DOLLAR, THEY CAN AFFORD TO CONTINUE DEVALUING THEIR CURRENCY AS THE MARKET CHANGES TO KEEP THEIR ECONOMY STABLE.

ANY THOUGHTS OF A PRICE INCREASE ARE JUST CRAZY. IF ONLY DINAR LAND UNDERSTOOD MATH!

IF ONLY DINAR LAND UNDERSTOOD MATH! INDONESIA RESET DOWN 2X SO FAR THIS YEAR TOO, THE YUAN IS SETTING THE PACE IN ASIA.

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MY LADIES: RE: PrincessDD: The Fed Against the World Janet Yellen to raise rates in September http://www.bloomberg.com/news/videos/20 ... -the-world

YELLEN MAY BE ALONE AGAINST THE WORLD BUT SHE CAN TAKE IT.

THE LIKELY HOOD OF A RATE INCREASE HAPPENING IS VERY GOOD. I THINK THOSE DECISIONS ARE MADE ON WHAT’S BEST FOR US NOT WHAT’S BEST FOR EURASIA

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MY LADIES: http://www.nytimes.com/2015/08/20/world ... .html?_r=0

THE SAGA CONTINUES. THEY CAN VOTE AS OFTEN AS MAKES THEM FEEL GOOD. IN THE END THIS ALL DOES NOTHING. THERE IS ONE SOLUTION AND THE TIMEING MUST NOT BE QUITE RIGHT FOR IT.

THE SOLUTION IS FORGIVE THEM THEIR DEBT AND LET THEM LEAVE. ALL THIS VOTING AND BRUE HA HA IS IN AN EFFORT TO HOLD THE EUROZONE TOGETHER AND THAT’S NOT THE END GAME PLAN.

MY LADIES: THE IMF IS STILL NOT ON BOARD..AND HOW LONG WILL THIS DRAG OUT BEFORE THEY GET THE MONEY... I DON'T THINK THIS IS GOING TO FLY

Greek Bailout Moves Ahead After German Parliament Backs Programhttp://www.bloomberg.com/news/ar ... -lawmakers

Bailout opponents argue Greece is in a debt trap and that policy makers are bending euro-area rules to hold the currency union together. Bild, Germany’s most-read newspaper, said in an editorial opposing the program that “it doesn’t offer a rescue -- not for Greece, not for the euro and certainly not for Europe” after “five wasted years of rescue policies.”

“Greece won’t make it in the euro zone and we won’t succeed at keeping the euro zone together by force against the will of the people”

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PrincessDD: Besides, Germany is profiting off of Greece.

PrincessDD: Chinese Stocks Continue to Collapse As World Economy Prepares for Nosedive http://www.armstrongeconomics.com/armst ... omics_blog

MVL: Speaking of debt, Martin Armstrong has a post this morning discussing just that. His take is investing in U.S. government debt is ok up to two years out. He doesn't recommend any foreign government debt. My thinking is Silk Road infrastructure debt is different, and separate from sovereign debt. Or am I wrong? Silk Road investment certainly appears to be a great way of diversifying a portfolio. Iraqi and Iranian bonds, however, still intrigue me.

More Around the World News:

Princess DD: Emerging markets rocky, dollar dips before Fed minuteshttp://www.reuters.com/article/2 ... 1I20150819

Princess DD: How China's slowdown is affecting Africa

Over the past few decades, Africa's resource-rich nations have attracted massive investments from fuel-hungry China. But its recent slowdown has left Africa increasingly vulnerable, as economist Oliver White explains. 
http://www.dw.com/en/how-chinas-slowdow ... a-18657923

Princess DD: China's stock volatility rattles investors http://www.cbsnews.com/news/chinas-stoc ... investors/

Princess DD: Im seeing that bond article came out earlier this year in March

Iraq, banks in talks for $6bn bond issue http://www.gulf-times.com/eco.-bus.%20n ... bond-issue

Princess DD: I guess thats the first time they were thinking of doing it. Now they seem to be finally moving forward with it.

Princess DD: The first article about them getting their credit rating so they could sell those bonds came out in May. So it looks like all of that got done and they are finally ready for it.

Iraq seeks credit rating before jumbo bond issue http://www.gulf-times.com/eco.-bus.%20n ... bond-issue

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Princess DD: China's Stock Market Plunges 6.2% Today amid New Yuan Concerns
https://moneymorning.com/2015/08/18/chi ... -concerns/

Princess DD: China devalues yuan (3.5%) - a threat or an opportunity for India markets?
http://economictimes.indiatimes.com/art ... aign=cppst

Princess DD: Currency manipulation? Markets agree that Chinese yuan worth lesshttps://www.reviewjournal.com/opini ... worth-less

Princess DD: UPDATE 2-Vietnam devalues dong to protect exports, offset China's yuan action http://www.reuters.com/article/2015/08/ ... R620150819

Princess DD: Opinion: Good news: Devalued Chinese yuan may stop Fed rate hikeshttp://www.marketwatch.com/story/g ... 2015-08-19

Princess DD: China's devaluation may be bad news for FX industry Read more:http://www.businessinsider.com/r-chinas-devaluation-may-be-bad-news-for-fx-industry-2015-8#ixzz3jGBRYKhU

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Princess DD: I read yesterday that the YEN will be replaced by the YUAN In the SDR basket.

Princess DD: Has Greece Gone From Crisis to Market Opportunity?http://www.bloomberg.com/news/videos/2015-08-19/has-greece-gone-from-crisis-to-market-opportunity-

Princess DD: German Lawmakers Vote YES to Greek Bailout (5 min ago)http://www.bloomberg.com/news/videos/2015-08-19/german-lawmakers-vote-yes-to-greek-bailout

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PrincessDD: Can Iran Be an ‘Upcoming Star’ for German Industry? http://www.bloomberg.com/news/videos/20 ... ial-parker

Princess DD: What To Watch: China, Vietnam, Greece http://www.bloomberg.com/news/videos/20 ... nam-greece

Princess DD: Norway Oil Fund: Monetary Policy, China Are Main Issueshttp://www.bloomberg.com/news/vid ... ain-issues

Princess DD: Russia & Iran reach agreement on S-300 air defense systems delivery – deputy foreign minister https://www.rt.com/news/312804-russia-i ... -delivery/

Princess DD: Japan and Iran are preparing for deals after nuclear sanctions end Read more: http://www.businessinsider.com/r-japan- ... z3jGGOAQan

Princess DD: Iraq plans $6bn bond sale amid oil drop, civil unrest (2 hrs ago)http://www.gulf-times.com/eco.-bus.%20news/256/details/451692/-iraq-plans-$6bn-bond-sale-amid-oil-drop,-civil-unrest

Princess DD: European markets close lower after China plunge http://www.gulf-times.com/eco.-bus.%20n ... ina-plunge

Singapore bankers rattled by Asian moves to chase undeclared wealth http://www.gulf-times.com/eco.-bus.%20n ... red-wealth