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DINARESGURUS.BLOGSPOT.COM_________________ _______

Tuesday, October 6, 2015

DAVE SCHMIDT UPDATE, 6 OCT


Backdoc & Thunderhawk update, 6 OCT

Backdoc:  WITH ASSET PRICES READY TO RETEST THE LOWS IN AUGUST OR CHALLENGE NEW LOWS WE ARE BEGINNING TO SEE THE EARLY SIGNS OF THE POLITICAL SOLUTION TO BLACK GOLD OVER PRODUCTION!
WITH U.S. RIG COUNTS DROPPING BUT EFFICIENCY GOING HIGHER MORE RIG COUNTS WILL SURELY DROP!
THE GREAT NEWS IS RUSSIA SEEMS TO BE SOFTENING ITS TONE NOW AND IS WILLING TO START TALKS WITH OTHER OIL PRODUCERS!
MMMM THIS SHOWS “THE DEAL” WITH IRAN IS STARTING TO MATURE! AS THE U.S. SIDESTEPS IN SYRIA, RUSSIA AND IRAN BRING SECURITY TO THE MIDDLE EAST!
NO DOUBT FRANKS INTEL WILL PROVE RIGHT VERY SOON WITH OIL PRODUCERS!
SAUDIA ARABIA HAS TO MAINTAIN ITS PRODUCTION HIGHER AS IT HAS VERY LITTLE OTHER PRODUCTS OR SERVICES TO RENDER! MAYBE THAT’S WHY THEY CUT THEIR PRICE PER BARREL AGAIN! MMMM
REMEMBER THE SOLUTION WILL BE POLITICAL, OTHERWISE PRICES WILL COLLAPSE DUE TO OVER PRODUCTION!
8@8, DOC   IMO
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Thunderhawk:    Backdoc Alert  
Oil gains as Russia set to meet with producers; stock markets up
Oil prices jumped after Russia said it was ready to meet with other producers to discuss the market, while world stock indexes rose with commodity-related shares amid a backdrop of low global interest rates.
The S&P 500 rose for a fifth straight session for the first time this year, helped by increases of more than 2 percent in S&P’s energy .SPNY, materials .SPLRCM and industrials .SPLRCI indexes.
The S&P health index .SPXHC, up just 0.3 percent, underperformed the broader market with biotechs falling as sector sentiment tumbled alongside shares of Canada’s Valeant Pharmaceuticals (VRX.TO) (VRX.N) and after industry complaints the Trans-Pacific Partnership agreement falls short on patent protection for drugs.
Valent’s U.S. shares slid 10.3 percent to $163.46.
News that Nelson Peltz’s Trian Fund Management disclosed a roughly 1 percent stake worth $2.5 billion in GE (GE.N) lifted GE’s stock 5.3 percent to $26.82, the biggest positive influence on the S&P 500.
“The market was a bit oversold,” said Stephen Massocca, chief investment officer at Wedbush Equity Management LLC in San Francisco. “Energy stocks are very oversold so they’re a big contributor to the rally today. Commodity names seem to be catching a bit of a bid. We’re still looking for low interest rates and the Fed to be on hold for a while.”
The Dow Jones industrial average .DJI rose 304.06 points, or 1.85 percent, to 16,776.43, the S&P 500 .SPX gained 35.69 points, or 1.83 percent, to 1,987.05 and the Nasdaq Composite .IXIC added 73.49 points, or 1.56 percent, to 4,781.26.
European stocks surged, with the FTSEuroFirst 300 index .FTEU3 in Europe ending up 3 percent. Data showing euro zone business activity grew at its weakest pace in four months during September reinforced expectations monetary policy backdrop will remain equity-friendly.
MSCI’s all-country world index .MIWD00000PUS was up 1.9 percent.
RUSSIA
Oil prices climbed after the news on Russia, with Brent LCOc1 settling at $49.25 a barrel, up $1.12 or 2.3 percent. and U.S. oil’s West Texas Intermediate (WTI) crude CLc1 up 72 cents, or 1.6 percent, to settle at $46.26.
Russia, one of the world’s top three oil producers, said it was prepared to meet OPEC and non-OPEC oil producers to discuss the market if such a meeting is called.
Moscow had been unwilling in the past to cut its oil output to support prices.
The U.S. dollar rose against a basket of major currencies on renewed investor risk appetite in the wake of a disappointing U.S. jobs report.
A U.S. rate hike is expected to boost the dollar by driving investment flows into the United States. While the dollar has previously weakened on expectations for later Fed rate hikes, the greater risk appetite took precedence on Monday.
The U.S. dollar index, which measures the greenback against a basket of six major currencies, was last up 0.26 percent at 96.081, marking a recovery from a nearly two-week low of 95.218 hit Friday
Before Friday’s jobs data, the Fed had been widely expected to raise U.S. interest rates by year-end. It decided not to change its policy path in September.
ASIA, BONDS
Japan’s Nikkei .N225 ended the day up 1.6 percent, while Chinese markets were closed for a holiday.
Analysts said the Bank of Japan could ease policy as soon as this week, though action at its Oct. 30 meeting may be more likely.
In the bond market, U.S. Treasuries prices fell, with benchmark yields climbing from their lowest since April, as weak services sector data supported the view that the Fed is unlikely to raise rates soon, spurring investors to move into stocks from bonds.
The Institute for Supply Management said its gauge on U.S. services industries fell to its lowest level since June.
U.S. benchmark 10-year Treasury notes US10YT=RR were down 20/32 in price to yield 2.059 percent, up 7 basis points from late Friday. The 10-year yield touched 1.904 percent on Friday, which was its lowest since late April, according to Reuters data.
Gold was little changed, as profit-taking set in after a rally. Spot gold XAU= had turned down 0.1 percent at $1,136.11 an ounce. Copper prices jumped.
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Backdoc:  POLITICAL NEGOTIATIONS! BINGO!
NOW ITS UP TO INVENTORY RESULTS TO SEEK THE FACTS!
DEMAND ALSO PLAYS A PART HERE! IF IT DROPS, MORE CUTS WILL BE NEEDED!
Thunderhawk:   Hint Russia May Work With OPEC Sends Oil Prices Soaring
Oil prices jumped in world markets October 5 after Russia’s energy minister over the weekend said Russia might attend an OPEC meeting to discuss the depressed state of oil prices.
Russian Energy Minister Alexander Novak told the Sochi-2015 international investment forum October 3 that Russia and the Organization of the Petroleum Exporting Countries might organize a meeting between technical specialists.
“Russia is ready to participate in discussing the situation emerging in the oil and gas markets,” he said.
It would be a first for Russia, which as one of the world’s top three oil producers has never joined or cooperated with the price-setting cartel. But today’s depressed oil prices have been crushing Russia’s economy and government revenues.
Novak’s remarks sent oil prices soaring by 2.3 percent in London trading, with Brent crude settling up at $49.25 a barrel.
“The news provided strong upside momentum in the oil market, as Russia has been thus far unwilling to cut oil production and cooperate with OPEC members to support current low crude oil prices,” said Myrto Sokou, analyst at Sucden Financial Research.
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Backdoc:  THE SEARCH FOR THE NEW GLOBAL REALITY MAY BE CLOSER THAN WE THINK! IF CHINA STABILIZES HERE WE MAY BE CLOSE. OTHERWISE WE MAY HAVE ONE MORE LEG DOWN! THE ANSWER WILL COME WITH BLACK GOLDS NEGOTIATIONS!   DOC   IMO
Thunderhawk:   Backdoc Alert
Asian shares rise on fading Fed rate views

Fading expectations that the U.S. Federal Reserve will raise interest rates this year and a bounce in oil prices helped lift Asian stocks to two-week highs on Tuesday.
The cheer was expected to extend into European trading, with financial spreadbetters predicting Britain’s FTSE 100 .FTSE would open up 0.4 percent. Germany’s DAX .GDAXI was seen opening 0.5 percent higher, and France’s CAC 40 .FCHI was called to open up 0.6 percent.
“European equities are set to start with modest gains this morning as the prospect of loose monetary policy continues to give a little more fleeting upwards momentum,” said Jonathan Sudaria, dealer at Capital Spreads.
“However, the fact that the bulls have to rely on what was once deemed to be ’emergency’ measures to go higher should actually be reassuring to the bears,” he said in a note to clients.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.8 percent in afternoon trade, after earlier touching its highest levels since Sept. 18.
Japan’s Nikkei .N225 ended up 1 percent, extending its rebound from an eight-month low hit a week ago.
“One of the two big persistent concerns has faded, so investors are taking risks,” said Masashi Oda, senior investment officer at Sumitomo Mitsui Trust Bank, referring to expectations of a near-term Fed hike.
“Short-covering by those who had shorted stocks on those worries will likely support the market for a while.”
Japanese shares garnered further momentum from speculation that the Bank of Japan might expand its stimulus program to support the flagging economy.
The BOJ began its two-day policy meeting on Tuesday, at which it is widely expected to hold monetary policy steady. But a surprise cannot be ruled out, and pressure is building on the central bank to act.
At its next meeting on Oct. 30, the BOJ is expected to cut its long-term economic and price projections.
Also underpinning sentiment, 12 Pacific Rim countries including the United States, Japan and Canada reached the most ambitious trade pact in a generation, though some analysts say the benefits of the far-reaching plan are far from clear at this point.
“The market seem to be driven by speculation on policy steps, including uncertain benefits from the Trans-Pacific Partnership (TPP),” said Hitoshi Ishiyama, chief strategist at Sumitomo Mitsui Asset Management.
Fed officials have said the central bank is likely to raise rates this year as the U.S. economic recovery progresses, but surprisingly weak U.S. jobs data on Friday led many investors to abandon expectations of a rate hike by the year-end.
That boosted sentiment towards riskier assets, which have been long hit by threats of higher dollar borrowing costs as well as fears of a deeper slowdown in China.
Wall Street rallied overnight, and MSCI’s broadest gauge of world stocks .MIWD00000PUS rose 1.9 percent on Monday to its highest level in more than two weeks.
Signs of a bounce in battered commodity prices helped soothe concerns of a global slowdown and lifted shares of energy and resource companies.
Global crude benchmark Brent LCOc1 was up 0.4 percent on Tuesday at $49.42 a barrel after soaring 2.3 percent overnight, led by a rally in U.S. gasoline and Russia’s willingness to meet other major oil producers to discuss market conditions.
Brent edged closer to the top end of its rough $46-$50 trading band in the past month. U.S. crude CLc1 was up 0.2 percent at $46.35 after gaining 1.6 percent in the previous session.
The dollar was mixed against major currencies as the headwinds from fading expectations for a Fed hike were countered by positive risk sentiment. The dollar index .DXY, which tracks the greenback against a basket of six major currencies, slipped about 0.1 percent to 96.036.
The dollar traded at 120.38 yen JPY=, down about 0.1 percent, while the euro traded at $1.1188 EUR=, down slightly.
The Reserve Bank of Australia kept rates at a record low of 2 percent as widely expected, and said Australian dollar is adjusting to lower commodity prices.
After the decision, the Australian dollar AUD=D4 erased modest earlier losses and added about 0.6 percent to $.07124 AUD=D4, after hitting a two-week high of $0.7135.
Backdoc:  AS WE HAVE READ BEFORE THE VERY SURVIVAL OF THE NAZI BORN CAR COMPANY, VW IS NOW A QUESTION!
WILL THE LARGEST CAR COMPANY IN THE WORLD HAVE ITS OWN HOLOCAUST? HOW WILL ITS FINANCIAL IMPACT AFFECT GERMANY’S ECONOMY?
SEVERE SUFFERING HASN’T REALLY BEGUN YET. LAW SUITS WILL BEGIN TO FLY SOONER THAN LATER. THEY ALSO ARE A FLY IN THE OINTMENT WITH THEIR SLAP! ON GOING GREEN! OUCH!
DOC  IMO
Thunderhawk:  Mexico May Impose Almost $7Bln Fine on Volkswagen

Federal Prosecutor for Consumer Defense Lorena Martinez said that Mexican authorities may impose a fine of almost $7 billion on Volkswagen for equipping some 32,000 diesel cars sold in the country with software that allows vehicles to cheat on emissions tests.
The Mexican authorities may impose a fine of almost $7 billion on Volkswagen for equipping some 32,000 diesel cars sold in the country with software that allows vehicles to cheat on emissions tests, Federal Prosecutor for Consumer Defense Lorena Martinez said Monday.
“This will be a direct sanction following the obvious assumption that the cars did not comply with the norms and the consumer was deceived in terms of characteristics and properties they did not posses,” Martinez said in a statement.
In late September, Volkswagen admitted that it had sold 11 million diesel engine cars worldwide that emitted up to 20 times more greenhouse gas than showed in official emissions tests.
According to previous estimates, the carmaker could face up to $18 billion in fines.

KTFA CHAT MORE UPDATES, 6 OCT

KTFA:

Dnari131:  
 » October 6th, 2015,

IMF Staff Completes 2015 Article IV Mission to Islamic Republic of Iran

http://www.imf.org/external/np/sec/pr/2015/pr15458.htm
 
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Walkingstick:  Abadi held a closed door meeting with Sistani's representative in Karbala

Author: HA, HH, TT
Editor: HA, HH 2015/10/06 16:48

Long-Presse / Karbala
Holding Prime Minister Haider al-Abadi, on Tuesday, closed-door meeting with a representative of the religious authority in Karbala Ahmed net.

A reporter (range Press), said that the Prime Minister Haider al-Abadi hold Enter one of the sponsor hospital rooms a closed door meeting with the representative of the religious authority in Karbala, Ahmad Safi.

The Prime Minister Haider al-Abadi, arrived on Tuesday, to the city of Karbala to participate in the continued opening of the Abbasid threshold Hospital.  LINK

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Frank26:  CC NOTES last night : "Abadi held a closed door ........"

He held MANY !!!  KTFA    Frank


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Walkingstick:  Hamoudi: Iraq in front of a secure investment climate after the approval of amendment of the Investment Law

Written by AH Date: 06/10/2015 13:46

Baghdad - INA / First Deputy Chairman of the House of Representatives, Hamoudi, said on Tuesday that Iraq vector to achieve a secure investment climate to facilitate the work of investors.

He said Hamoudi's office said in a statement, "The Iraqi news agency" received a copy of it, "deputy speaker of parliament Humam Hamoudi received, today, the Romanian Ambassador Jacob Prada, and discussed with him the need to take advantage of Romania experience in building a healthy and effective emergency sector in Iraq."

Hamoudi said, that "The country is heading for a secure investment climate to facilitate the work of investors and provide all potential logistical and security to them, especially after the adoption of the investment law in the near future."

Hamoudi praised as "the experience of Romania in the face of corruption and its keenness to develop relations with Iraq," stressing "the need to activate the committees of friendship between the two sides especially in the field of economy and investment,Link

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Frank26:
  Hamoudi: Iraq in front of a secure investment climate after the approval of amendment of the Investment Law"   TA DA!!!!

TNT CHAT UPDATE, 6 OCT

TNT:

Shybaby:
 Forex @ 7:11 1103. 200 across the board... bid , high , low , open

Iko Ward: Yes, we are in the zone again on Forex. Just remember it is one of many indicators. I am now more interested in the various bank stories. Momentum there is a big focus. Yee Haa!

ChrisTNT52:  Which bank stories is IKO watching? Historically (over the years) they weren't worth the rumor they were written on. Be curious to know if the ones Iko's referring to, are more credible

NewCreation: Chris, there have been several members who have exchanged, some just one currency (caught when a window was open by chance) . Now , like Tony says, we have folks who have exchanged all 4 currencies...

Iko Ward:  Hi Chris, various sources are reporting of chance exchanges and providing physical evidence. They are never for dinar, but over the last two weeks a bunch if people exchanged rupiah and dong (though not for international rates, but still good enough to exchange and then re-invest the profit.)
....
I believe these are regional test of the system and people luck out. But still, a big step forward.

What I like to do is take a piece of intel and then compare it to Forex, the Stock Markets, Gold and Crude, what I'm hearing in Chat and on OM. Not fool proof, but worth the work.

Iko Ward:
 Not that we care about such things (ehem), but Gold and Crude keep climbing, and the market fear and greed index is up to 31. Lets all hold hands and jump together.

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NetGlobal:
  Incompetence or Theft?:Iraq TradeLink News Agency October 6th, 2015 Iraqi ex-premier [Minister for Energy Affairs] Baha’ al-Araji disclosed that the previous government of Premier Nouri al-Maliki “wasted one trillion dollars during the past years”.

Cozmo:
 Good Article ... "Ex-Iraqi Premier Maliki charged of wasting one trillion dollars" -- http://www.iraqtradelinknews.com/2015/10/ex-iraqi-premier-maliki-charged-of.html

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Elmerf123456:
  From across the pond. A fire has been lit!

Abadi has been re-energized to a new level And his primary purposes are in full swing. We are seeing areas where past differences would labor for days or weeks now change basically in an instant.

Could it be that the programmed bickering in parties have finally subsided to new lows or is it that the programmer has been has lost their salt.

One things for sure, road blocks have been removed and this government is hitting timelines with a new sense of common purpose.

NoNo:  what is happening in the GOI now... it should be no surprise. The PM's trip to the US wasnt just to deliver a speech to the UN, he was also here seeking permission and a concensus from the other world leaders on how to, and if they were in agreement with his Maliki issues. And obviously, HE GOT IT~!


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Elmerf123456
:  Whoop Whoop!! IMF urges China to float Yuan De-peg from USD Link

Flybaby77: 
 Elmer..... is that what we want or can it rv without the depeg

Elmerf123456: 
 Either way. West banks mark down to market the derivatives and we're done. Or China depegs on its own driving down the is currency and causes a ripple negative effect in the economy and we're done

Buckeyefan: 
 So, in reading all the information out there seems like it "could" be a while yet. It's so hard to know which way it's going. Seems like we just need to get use to waiting, and keep doing our best because the time lines come and go then we chase the next one, then people get angry and demanding the twitter folks are having a field day but they're bored.

Elmerf123456:
  Buckeye fan it "could" but that's not what I'm hearing. I'm hearing it "could" be very fast.
....
Apexdinar:  I shared yesterday that two of my peeps said this won't trigger until 2016 - Elmer has sources too - everyone just trying to piece together some semblance of truth...we all hope Elmer is on the money (pun definitely intended)!

Elmerf123456:  I doubt the 2016 date for one reason although I have others. For one Oct 20th is the date for the Yuan to become the reserve currency. With that they have 100% no reason to remain fiat and will go gold backed. That's a good reason for me.

Apexdinar:  Very cool, Elmer - the Yuan depeg & subsequest rate stabilization is the exact reason why one of my peeps said it won't happen this year...so we'll see...hope you're right

FreedomBoomer:  Elmer what are you hearing about the dong? Will it go also?

Elmerf123456:  Can't say for sure but believe rupiah dong and zim will go with Iqd.

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OK Rocks:  CBI Recommendations: in order to provide consistency between the portfolio management of the Central Bank’s foreign reserves and the current exchange system, it is necessary to link the Iraqi dinar to a basket of currencies that their weights are identical to the weights of the port-folio.

We say: monetary policy needs to link the Dinar to a basket of currencies instead of being only linked to the Dollar. Then, we will reach the quasi fiscal cost-benefit equilibrium in the state budget and the balance sheet of the central bank at the same time.
 
 https://drive.google.com/file/d/0B09_WSWMFYjNdDRGRGp0ZXl5Y00/view?pli=​1

Newcreation :   OKOKOKRocks! Wooohooooo

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RVwetrust2:  OK have you heard of any extensions by IMF or World bank as to the mandatory Basil III requirements for all countries. Current date is 10/15/2015

TBirdd:  RvWe---i havent.. maybe that date still stands...

RVwestand2:  thanks tbirdd I have not received anything different either.

Already Blessed:   Everything is awesome right NOW....I don't have any dates or rates but very hopeful that we are done....tony gave it all to you yesterday....no bad news .... Plenty of good news....hang in there

DINAR GURUS UPDATE, 6 OCT

10-6-2015   Newshound Guru wmawhite   When I first got into this investment I was always thinking that this investment was ready to come to fruition. Then as late as a year and a half ago, when we were told by the CBI, GOI and members of Parliament that it was not time for the “Delete The Zeros Project” I thought that they were crazy.  Little did I understand that there was much more to accomplish by the CBI and the GOI. It was as if the pizza had just been put into the oven and we the investors were ready to pull it right out of the oven.  Now I can see the importance of what is taking place today and how critical all of this activity is. Whether it is the restructuring of the banking system, or the Anti Money Laundering Law or the taxes and tariffs, all of these initiatives along with many more are like the toppings of a pizza.  [post 1 of 2....stay tuned]

10-6-2015   Newshound Guru sczin11
   ...ALL THE IMPORTANT LAWS ARE STATED AS READY FOR VOTES, AND THEY ARE ALL COMING TO VOTE ...EVEN MINUTES AFTER THE HOLIDAY THAT ENDED 8 DAYS AGO...YET THEY ARE NOW ADJOURNED UNTIL OCT 13...THEY JUST HAD 2 WEEKS OFF...WHAT EVENT ARE THEY WAITING ON? HOW MANY TIMES DO WE NEED TO SEE ANOTHER MP OR DIGNITARY OR ECONOMIST TELL US INVESTMENT LAW IS READY - NATIONAL RECONCILIATION IS STARTING... USA SAYS GO...MASSUM SAYS HES READY...JUBOURI SAYS WE ARE MOVING AHEAD..AND ABADI SAYS...COME ON INTO THE GREEN ZONE!

10-6-2015   Intel Guru Frank26   Here is the NEW 1, 2 and 3:  #1 – The LAWS must be put in a public forum...THE GAZETTE to be announced to the world. Until then, the laws will be used behind closed doors.  #2 – in my opinion, I’ve told you that lower denoms are being held on the east-coast of the USA. We need to see the lower denoms MOVE to the middle-east. The banks [in Iraq] have been set-up. First of all it will be an RI inside of Iraq.  #3 – “Lucy, I’m home!” In other words Dr. Shabibi is back at the helm.  There will be great SECURITY...no Maliki!  Before the end of 2015 I believe that Dr. Shabibi needs to make a move on the IQD.

10-6-2015   Intel Guru Frank26
  [via FrostyTheSnowman]  I feel very, very confident about the advancement of the monetary reform... it’s amazing how fast things are occurring at the same time.  Many changes happening right now...The middle-east is freeing itself of terrorism and corruption. We have a date that we believe that we will see 3 more things – it is the date when Dr. Shabibi will be back at the helm of the CBI calling the shots.  The IMF gave Dr. Shabibi the GREEN LIGHT (back in April) and in that time period Dr. Shabibi wanted to do this back in July but there was not enough SECURITY to do it. On September 16th the Finance Committee (of the GOI) came out and said they had passed laws and said that the new 50’s and 100’s would be coming out. They were ready then but the timing wasn’t right. Is the timing better now? MUCH BETTER!   [post 1 of 2....stay tuned]

10-6-2015   Newshound/Intel Guru BGG    I am looking for some public move against Maliki anytime soon... Abadi appears to have what it takes - there is great public sentiment to support him...and too many public accusations for there not to be something to it and...once they deal directly with Maliki - it opens the door wide for monetary reform.

10-6-2015   Newshound Guru Kaperoni   Article quotes:  "...sources expected a change in the equation in Iraq through support of Washington and the Gulf states for a new government in Baghdad away from Iran in return for including Iraq to the GCC."  "The sources said that the new Prime Minister proposed by Washington named «Imad Khersan..."   There is clear motives here to reform Iraq.  With or without Abadi, there seems to be a plan.  Seems to be a bigger strategy to isolate Iran away from Iraq and reforms play a part in that.  If Abadi cannot accomplish what has been asked of him, there may be pressure to change him to this other guy Imad Khersan.  Time will tell.

10-6-2015   Intel/Newshound Guru Mnt Goat    Parliament is now telling us the draft investment law will be voted on through the House of Representatives session on Tuesday 10/6 This law goes way back years ago, when Iraq had their multi-national investment seminar. Resulting from this seminar were many of these recommendations made to Iraq. They are finally going to implement them.  So now this opens the door to the private sector. A better way to say it is “activating the private sector”...   It is about to begin...  This did not have to take place prior to an RV however we are glad to see it since it shows us the commitment of the GOI to moving forward towards creating a sound economy which could only mean they would have to RV at some point very soon after activating this law.  We are still waiting for the National Guard law, Three Presidencies bill and Amnesty law to be passed in parliament. All of these laws have had second readings.

Islamic Banking Act Will Restore The Banking System in The Country: Saleh, 6 OCT

  On Sunday, the Iraqi Prime Minister’s Economic Advisor Muhammad Saleh issued a statement that guidelines of Islamic Banking Act would add a new life in Iraqi banking operations. He also pointed out that all these Islamic banks still operating without specific legal regulations over the past several years. Saleh further added in his press statement that Islamic banking is based on genuineness for Halaal and Hraam. It also disallows exploitation and it scrutinizes the right profit for Muslims because money-lending is prohibited in Islam. He added in his statement that current Iraqi banking Act No. 94 of 2004 only facilitating the work for loaning from commercial banking system.
Point to be noted that thirteen Islamic banks are still working without any specific law defined by the state over the past several years. He also said that the new Islamic banking Act will be passed very soon by the Iraqi Parliament containing a number of features including new law making for Islamic Banks that are doing business investment having a wide range of commercial facilitation and it would provide lawfulness for essential banking activities needed in banking to revitalize the Iraqi banking sector. He also pointed out that Islamic banking has been considered as the modern and perfect banking in the world. It is also said that in the 25th session, a large number of Iraqi Council of Representatives are agreed for the new law making of Islamic banking Act in Iraq.

TERRYK CHAT UPDATE, 6 OCT

TERRYK Morning Coffee 10/6/2015 10:00am edt

terryk:  Morning all
kenbbq1:  howdy howdy
kenbbq1:  Anyone seen where Frank26's 3 steps have been done.....now he has 3 more steps.....Gotta keep those people paying that money..... 
arizona49:  terryk Morning  How are you?
terryk:  Hey ken, just looking at Frank's new 6 step plan
terryk:  morning az have sniffles this am
arizona49:  sorry to hear that tk seems to be going around, tis the season


terryk:  so now I hear that the gov of Vietnam is pissed at merchants hoarding usd
terryk:  So let me ask, did u all see that M is or has not left office and is still barking
kenbbq1:  I saw something about them electing 3 new VP's
terryk:  even tho A said I have dissolved your position, goodbye this guy does not get the hint
terryk:  ken I did not see that, so how can they do that when last week the positions were removed
terryk:  unless I missed that, but have done that many times
wushock92:  Goooood Moooaaaaanin', GET Teeeaaammm!
terryk:  Hey wushock


wushock92:   Boss
kenbbq1:  You will see 3 new Vice Presidents (the old ones were replaced). From Frank
terryk:  what I do feel is coming is breaking Iraq up into statesi
terryk:  and appointing governors muck like us
wushock92:  I don't know why they are so opposed to that. Seems to work pretty good here
kenbbq1:  I have heard that is what the US wants to do...but is the US kinda out of the picture now.
kenbbq1:  Now that Russia is there they don't really have to have the US anymore


wushock92:  Don't they already have provinces anyway?
.MikeH:  I thank that some beleave that they will loose control of the country with the different state goverments it gives the people the power like we have here the only thing is we need to take it back in this country ourselfs
wushock92:  Amen to that, Brother .MikeH!


terryk:  well all, a few I still talk to are feeling good where we are, and are saying this month, not going into new year....so with that keep the faith, treat all as rumor and don't buy more than u can afford to lose......
terryk:  God Bless you all, gotta run 
beach:  bye tk 
arizona49:  terryk take care and get well

KTFA CHAT UPDATE, 6 OCT

KTFA : 


Dinaridori:  DID ANYTHING HAPPEN UPON COMPLETION of the ECLIPSES, FEASTS & BLOOD MOONS on GOD’S DIVINE CALENDAR that were SIGNIFICANT? –YES!!!
Here’s a fascinating list of events that have occurred over the past 3 weeks that proves we are living in historical times as we watch prophesy unfold.
Watch: 15 minutes     https://vimeo.com/141346474
Frank26:  As of this morning …………….. M’s hours are counted. You can start a Count Down as of today if You want to Family.
This step is kinda ginormous   KTFA Frank
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Sfeland:  Thanks Frank – Team for the CC tonight!!! I appreciate you and your efforts!!! Thanks Frosty for your notes!!! They are appreciated!!!
Its looking like our time is coming quickly… When it does we must move quickly to do the will of our Father to reach more for His kingdom and His Glory!!!
Frank26:  VERY QUICKLY ……. For the enemy too has ……….. Dinars.
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Aggiddad77:  “And in our hour of darkness, Mother Mary came to me….speaking words of wisdom….Let it Be…..Let it Be”……yes indeed let this be….from the Ayatollah Sistani in Iraq to surprisingly the GCC AND the US there appears to be a push…..a push to have Iran exit Iraq…..oh what a blessing…..disengage from Tehran…..indeed……(See Articles Below)
Allow Iraq’s ascension to the GCC…..indeed…..boost the Iranian influence from Iraq…why….because they do no good for Iraq….they serve no purpose only working to see Iraq fail so their influence within the fallen state could be total…..Iraq sees the future…and they know to be successful they need to remove the wet blanket that shrouds them today….
PM Abadi and his government must cast off the ties that bind and walk proudly as a nation of builders….as a nation of plentiful growth for all…..they must emerge as a nation recognized by the world worthy of international status for the good they have done, not known as a terrorist haven…..Iran may have sanctions removed over time….but their image of being a birthing zone for terrorism will not soon be forgotten….IMO.   Aloha Randy
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Walkingstick:   Report: Gulf plans to join Iraq to remove him from Iran
Follow-Iraq Press October -5: Gulf sources revealed that the Gulf Cooperation Council states, led by Saudi Arabia plans to join Iraq to membership of the Cooperation Council in order to remove him from Iranian influences.
The sources expected a change in the equation in Iraq through support of Washington and the Gulf states for a new government in Baghdad away from Iran in return for annexation of Iraq to the GCC.
The Gulf sources told the newspaper, “public opinion” of Kuwait, the Americans cut a long way in the talks with the religious authority, the Shiite Ali al-Sistani, and offered through the nomination of a new prime minister backed authority in Najaf to be within the government formation process make significant changes to Iraqi politics .
According to sources, the changes include moving away from the Iranian axis in the Gulf in exchange for supporting crucial to restore the unity and sovereignty of Iraq and the elimination of the “Daash”, and the establishment of a national reconciliation on a sound footing ends with the current screening sectarian divide in Iraqi society.
The sources said that the new prime minister proposed by Washington named “Imad Khersan” an Iraqi engineer holds American citizenship and was part of the crew of advisers who worked with Paul Bremer. ”
According to sources, Khersan have a vision for the establishment of the Federation of Iraqi Federated States with the establishment of a moderate peace relations with all countries, particularly the Arab Gulf states and believes that Iraq suffered major damage due to joining the shadow of the Iranian axis and without any returns, but made it home arena of the wars between the conflicting parties in the region.
The talks take place through intermediaries representing the US ambassador in Baghdad, including ministers and former officials.
The sources said that Sistani believes that al-Abadi reforms will not take place without US pressure on Tehran, noting that al-Sistani asked for time to prepare the Iraqi arena for this change, and the granting of government Haider al-Abadi opportunity to direct reforms and that these reforms will inevitably lead to disengage with Tehran.
The sources pointed out that the US side informed Sistani content of the talks held by King Salman bin Abdul Aziz at the White House last month, where he spoke a lot about Iranian interference in Iraq, and that is what led to the division of Iraq and the Arab states move away with him.
The sources confirmed that Saudi Arabia will support Iraq’s accession to the Gulf Cooperation Council if Iran moved away from provocative policies directed to the Arab countries, which was the first cause of the Arab objections to the nuclear deal.
The sources confirmed that the US move in this direction would represent a fundamental change in US policy toward Iraq and Iran, which he accused Arab side Bmmaloh Tehran to account Araba.anthy the world (1)
American -Gulf move towards Iraq .. Khersan head of the government with the support of al-Sistani
Monday, 05 October 2015 10:13
Shafaq News / Gulf sources revealed that the Gulf Cooperation Council states, led by Saudi Arabia plans to join Iraq to membership of the Council in order to remove it from the Iranian influences.
The sources expected a change in the equation in Iraq through support of Washington and the Gulf states for a new government in Baghdad away from Iran in return for including Iraq to the GCC.
The Gulf sources told, “Alrai Alam” newspaper that the Americans made a long way in the talks with the Shiite religious Marjaa, Ali al-Sistani as they offered him to be nominated as a new prime minister backed by Marjiyaa in Najaf to be within the government formation process and make significant changes to Iraqi politics.
According to sources, the changes include moving away from the Iranian axis in exchange for Gulf crucial support to restore the unity and sovereignty of Iraq and the elimination of «ISIS», and the establishment of a national reconciliation that ends with the current sectarian divide in the Iraqi society.
The sources said that the new Prime Minister proposed by Washington named «Imad Khersan», an Iraqi engineer holds American citizenship and was part of the crew of advisers who worked with Paul Bremer. ”
According to sources, «Khersan» has a vision for the establishment of the Federation of Iraqi Federated States with the establishment of a moderate peace relations with all countries, particularly the Arab Gulf states and believes that Iraq suffered major damage due to Iraq joining the Iranian axis and without any returns, but made the home arena of wars among the conflicting parties in Region.
The talks take place through intermediaries representing the US ambassador in Baghdad, including ministers and former officials.
The sources said that al-Sistani believes that al-Abadi reforms will not take place without US pressure on Tehran, noting that al-Sistani asked for a time to prepare the Iraqi arena for this change, and grant the government of Haider al-Abadi , the opportunity for direct reforms and that these reforms will inevitably lead to disengage with Tehran.
The sources pointed out that the US side informed Marjaa «Al-Sistani» the content of the talks held by King ,Salman bin Abdul Aziz at the White House last month, where he spoke a lot about Iranian interference in Iraq, and that is what led to the division of Iraq and the Arab States being away from it.
The sources confirmed that Saudi Arabia will support Iraq’s accession to the Gulf Cooperation Council if Iran moved away from provocative policies directed to the Arab countries, which was the first cause of the Arab objections to the nuclear deal.
The sources confirmed that the US move in this direction would represent a fundamental change in US policy toward Iraq and Iran, which was accused by the Arab side of trying to satisfy Tehran on the Arab world expense.

S3A CHAT UPDATE, 6 OCT

S3A : 


Abadi attacking the international coalition after the recent operations
العبادي يهاجم التحالف الدولي بعد عملياته الاخيرة
16:37
06/10/2015
He stressed Prime Minister Haider al-Abadi, Tuesday, that the international US-led coalition in Iraq did not provide what was expected to hit the "Daash".
 
Ebadi said during a press conference in the city of Karbala to mark the opening of the sponsor's Hospital, he said that "the international US-led coalition did not give us what was expected to hit Daash criminal groups which control parts of the provinces of Iraq."
 
The Prime Minister added, that "Daash criminal groups threaten regional countries and the international community must accommodate the seriousness of these killers."

SCZIN11 & BGG UPDATE, 6 OCT

SCZIN11 :WOW … LOOK AT SOME OF THESE WORDS … WHAT HAPPENED LAST WEEK, IN NEW YORK? WERE THERE TRUE MEETINGS INVOLVING OTHER WORLD LEADERS, REGARDING MALIKI?
Baghdad -arac Press October -5: detect early, on Monday, the source, that the former Prime Minister Nuri al-Maliki sent a warning message to his successor, Haider al-Abadi...
…and apparently that al-Abadi had received the green light from the Americans to attack the al-Maliki after his return from New York
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BGGIt has been a tidal wave of news the last 48 hours … my take – Abadi very much appears to be swinging a much bigger stick after coming home from New York. I haven’t figured out why (yet)… but it sure looks like he has a new base of support. By all appearances – Abadi was not in high gear (for some reason) – but looks like he is now.

KTFA CC NOTES, 6 OCT

FrostyTheSnowman: HIGHLIGHTS FROM KTFA MONDAY NIGHT CC 05 OCTOBER 2015

*** The comments made by Frank26, Delta and others are their sole OPINIONS and cannot and should not be used as any form of financial, tax, banking or investment advice! We offer NO DATE, NO RATE on this forum!!! ***

PLAYBACK LINK:

FRANK:   Ok … let’s begin. 1, 2, 3 is over.

We had an emergency meeting with our staff and I told them that the events are about to happen and will occur before a particular date. We have a date that we are watching for things to happen.

Tonight we present another 1, 2, 3.
....
What was the original 1,2,3?

1 – SECURITY

The new policy that we presented to you in April … that the US would apply to the middle-east is now very apparent.

A new philosophy has emerged in the middle-east.

We need to make money. Who is “we?” (The world).

The many “hush-hush” meetings took place between international countries … some thing were put on hold until things were in place.

About 3 weeks ago we told you that you will start to witness HISTORICAL things in Iraq.

China is helping … 8,000 Chinese troops. These are highly-trained soldiers … biblically … this is huge!

The events of this world are coming … and you better be ready … ready for God’s kingdom.

Who would have thought that a communist country would be interested in “SECURITY?”

What was #2? – LAWS

Many laws have passed … and some are “waiting” in line.

Do you think these laws are waiting on the TopShelf -- just waiting?

What was #3? -- Dr. Shabibi will return to the CBI.

Amazing … Dr. Shabibi talked loudly and pointed his finger at Maliki … and the following day, Abadi does the same thing. They are one in thought/direction.

ALL CORRUPTION from the CBI is gone!!! Why do you think he’s [Shabibi] there (in my opinion)?

The GOI is moving people left and right. The laws that have been passed are being used to move these GOI officials.

I feel very, very confident about the advancement of the monetary reform so I called an emergency meeting with my staff.

You know the moving sidewalks at the airport? The monetary reform is now outpacing my team – it’s amazing how fast things are occurring at the same time.

The 1, 2, 3 has been very successful. Many changes happening right now.

The middle-east is freeing itself of terrorism and corruption.

We have a date that we believe that we will see 3 more things – it is the date when Dr. Shabibi will be back at the helm of the CBI calling the shots.

Here’s an example … Abadi a few days ago said that Maliki was a bad-man and he needed to clean out his desk in 48 hours. Right after that … (our teams tell us) … that Abadi went to pick up Dr. S … to have a meeting where they could be protected … and Abadi said that he wanted certain things “done” – and they were done instantly. We believe that Dr. Shabibi will be at the helm by a certain date. The GOI understand and obeys. No bickering, fighting – nothing. It was done.
You already know that Dr. Shabibi has the authority to “lift the value” – but when?

You are going to like the new 1, 2 and 3.

Delta will not be joining us tonight because our Teams tell us that we will not see anything this week, because the monetary reform is being beaten out of a paper-bag right now.

The IMF gave Dr. Shabibi the GREEN LIGHT (back in April) … and in that time period Dr. Shabibi wanted to do this back in July … but there was not enough SECURITY to do it. On September 16th the Finance Committee (of the GOI) came out and said they had passed laws … and said that the new 50’s and 100’s would be coming out.

They were ready then … but the timing wasn’t right. Is the timing better now? MUCH BETTER!!!

Here is the NEW 1, 2 and 3 …

#1 – The LAWS must be put in a public forum … THE GAZETTE to be announced to the world. Until then, the laws will be used behind closed doors.

#2 – in my opinion, I’ve told you that lower denoms are being held on the east-coast of the USA. We need to see the lower denoms MOVE to the middle-east. The banks [in Iraq] have been set-up. First of all it will be an RI inside of Iraq. Will we know when then move? Will we share that info?

#3 – “Lucy, I’m home!” In other words … (Dr. S) is back at the helm). TA-DA!!!

There will be great SECURITY … no Maliki!!!

As far as the other villains? We’ll see what happens. Have you seen Allak?

The NEW 1, 2, and 3 should have occurred BEFORE the date that we are studying.

So … here is #4 … “Dr. Shabibi … will you lift 1, 2 or 3 zeros?” What will he do.

If he introduces the new 50’s and the 100’s … that’s about $43 … which would make the rate around 83 cents.

If he doesn’t make it 83 cents … perhaps 1 dinar to 1 USD … one-to-one.

They don’t need the lower denoms if they are going to lift the zeros … they could bring those out much later.

If they lift ONE zero … a 1,000 would be 100 … that would be 50 dollars worth.

So if they moved the decimal point over 3 places … (based on the history of Kuwait – they came out too early – which was ridiculous). I don’t think they’ll do that in Iraq.

Would Dr. Shabibi “free-float” the dinar? I don’t think so … because they would come out around 10 cents … and that would be too damaging to the currency.
Right now Iraq only exports oil … and you don’t put all of your eggs in one basket.

Before the end of 2015 … I believe that Dr. Shabibi needs to make a move on the IQD.

Remember what Dr. Shabibi was doing at the CBI before he “left” – (he left because he was accused falsely and he had to leave).

We believe that BEFORE the end of 2015 … we believe that Dr. Shabibi will pop out his head.

You do know that the GREEN ZONE in Iraq is now open, right?

I love the SECURITY in Iraq!

What Iraq wants to do now is MAKE MONEY … like you have never seen before!

Look at the forces in the middle-east (some are our past enemies – China, Russia, Iran) – now working with us!

Maliki got caught trying to buy three buildings in London – but he was shut-down!

So, Dr. Shabibi … what will you do?

Russia is showing their strength against our President (who has a weak foreign policy towards the middle-east). Obama has great charisma … but the middle-east doesn’t respect him. The middle-east doesn’t want him over there. I respect the Presidency of the United States … but I don’t agree with O’s policies.

The banks in Iraq said that they are ready to do wire-transfers. Before, they had to go to the CBI … but no more … they can do transfers outside of the country. Do you know what that SCREAMS??!!! This is amazing!

I should have added into the looking of the date.

We need to see when Iran’s sanctions are lifted. I believe it will be October 8th or 9th -- oh my goodness … once those sanctions are lifted … the entire middle-east will be making money with Iran.

The money-laundering law … and the lower denoms … I think we will see those come out BEFORE the date that we discussed with our staff.

The English and Arabic websites have changed. The pattern has been broken.

It’s not just Dr. Shabibi … it’s the board-of-directors of Iraq who said that they will release the lower denoms BEFORE the end of 2015.

If there is a DYNAMIC change … you will see it in OIL. Are you with me?

WTI closed in the 40 dollar range. We told you that the price of oil would go down. That doesn’t happen during summer month. We believe that is about to be reversed due to the monetary reform. Oil is what will fuel this reform – (in my opinion).

I think you’ll start to see oil go up next week.

In my opinion … there are LAWS we will need to see in the Gazette.

If these laws are not implemented quick enough in 2015 and introduced to the International world … then I believe that in my opinion … Abadi may sign an executive order to release the National Guard Law … and IF we see evidence of that (and the date we are watching) … that will be fantastic!

Dr. Shabibi needs to announce this internally and externally.

Did you know that Allak and Maliki were cousins? Humm.

The CBI was flushed of corruption!

They can’t take care of the outside (you family) until they take of the inside. Dr. Shabibi is “ready to play ball!”

This must succeed without any terrorism at all. Between now and “this date” – we are going to see the end of SECURITY come forth. You will see Maliki “picked-up.”

You will see 3 new Vice Presidents (the old ones were replaced).

You will see the new LAWS … investment laws, anti-money laundering laws etc.

The CBI is secure. The military knows what I mean by “SECURE” – don’t you. No more boogie-man!

Allawi was walking around thinking his position was secure. Well … the joke is on him.

Allawi is up to his neck in embezzlement. He does NOT have a position in the CBI!!!

You will see who the 3 new Vice Presidents are very soon.

Has amnesty expired for Maliki? (in our opinion … yes!)

Hey China, Iran … you guys are happy aren’t you? LOL!!!

Abadi has Executive Orders to invoke certain laws. He had 48 hours to do that.

Over 500 files were sent to the Judiciary and over 2,000 names were on that list. That’s a lot of bad people … and it included 13 ministers in the GOI. WOW! They will be gone … and Maliki was one of them!

The Defense Minister is in trouble. He was in trouble – in front of parliament and questioned and will be taken into custody afterwards. Wow! This is the latest news that just came in 1 hour ago.

If Maliki is arrested … if the 13 Ministers are arrested before this “date” --- then you will see things move fast and boldly!

Not this week … Dr. Shabibi will not come back this week … but Maliki is being taken care of as well as certain judges.

The Supreme Court Judge (who files charges falsely against Shabibi) is being removed.

These are Abadi’s orders! I’m as excited as you are. Do you see the chain of command? We have a true Commander and Chief in Iraq now!
One of the judges who told the corrupt judge that he couldn’t remove Shabibi was removed by the corrupt judge. He will be coming back.
They have removed all computers from Maliki’s palaces.

48 hour Executive Order … what for? (We believe the National Guard Law) – if this happens – this could move the “date” up that we talked about with our staff.
Abadi issued all those in question to be removed now!

Watch Abadi this week. You won’t see Shabibi this week.

If they “RI” – the reformation of the currency can be done at any time because they already have the IMF approval.

Iraq can do anything they want through the IMF once they have the permission.

#4 – when this kicks-in … Dr. Shabibi can put in whatever rate he wants.

Do not worry about the 1st or the 15th of the month. They can release their currency from “bankruptcy” at any time! Iraq is at full-speed!

The reforms are actually being called “projects” by the GOICBI.

Iraq is credited (already released) … the Iraqi Air Force was victorious they blew up a cave of stored of ISIS cache weapons. They look like a force that can defend their country!!!

Please pray for me and my wife. It’s not easy to lead. People want you to be perfect all of the time. In 8 years, I’ve exploded twice in efforts to defend KTFA.

I don’t know who shut-down our forum today. I don’t want to worry about it. Let’s just move forward. When God wants the forum back up … it will be up.

CC ended in prayer.