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Tuesday, October 20, 2015

KTFA CHAT UPDATE, 20 OCT

KTFA : 

Dnari131:  Talk about Timing

Chinese yuan on track to be included in IMF basket: HSBC
By Reuters | 20 Oct, 2015, 05.24PM

READ MORE ON » Yuan | SDR | IMF basket | HSBC | financial markets

LONDON: China's yuan "ticks all the right boxes" for inclusion in the International Monetary Fund's SDR list of global reserve currencies, the biggest international bank in China, HSBC, said in a report on Tuesday.

The report by the bank's chief strategist Paul Mackel comes ahead of discussions within the Fund next month on whether to include the yuan, or renminbi, in the basket behind the Special Drawing Rights, a virtual currency that values IMF reserves and emergency payouts to members.

Britain and other members of the Group of 20 leading economies are jostling for position as financial partners for China and have made positive noises about the inclusion of the yuan, which bankers say would be a turning point for trading of the currency.

Japan has been more cautious, but U.S. Treasury Secretary Jack Lew, who sounded sceptical earlier this year, last month voiced an openness to "a positive review", as long as China carried out promised reforms.

Beijing has made steady progress on moves to widen the yuan's use internationally. Sources told Reuters earlier this week that Beijing would soon extend trading of the yuan in China to overlap with European trading hours, encouraging more use of the yuan and supporting its case with the IMF.

"Some of the recent reforms are well-timed to support the RMB's bid for inclusion in the IMF's Special Drawing Right (SDR) basket," Mackel said.

"Others set the stage for the RMB to play a more important global role over the longer term. (...) The RMB is ticking all the right boxes to be included in the IMF's Special Drawing Right."

After China's roughly 3 percent devaluation of the yuan in early August sent a shockwave through global financial markets, however, he cautioned on the outlook for the currency's value in the near term. There might be a small boost for the yuan from inclusion in the SDR basket, but a decision not to might more clearly weaken the currency.

"Confidence in the RMB and, hence, voluntary reserve diversification flows into China could rise with the endorsement of SDR inclusion," Mackel said. "But this process has already been taking place. RMB inclusion is likely to be neutral to positive, but the converse is very likely to be negative."  Link

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

BACKDOC: 
 BINGO!

MMMM, A CRISIS MAY REQUIRE A SOON INCLUSION! "OPERATION MAIN EVENT"

DOC   IMO

Bluwolf; MESSAGE TO MY WORLD, 20 OCT

Bluwolf; MESSAGE TO MY WORLD : A dear friend feeling discouraged, wrote to me and informed of how both he and many others have lost all hopes on this blessing because of all the hype that some folks transmit. This was my insight and response to way I am still here. Answer, there are 28 million folks who own dinars and wasn't supposed to know according to all governments. 

They have tried everything so that you would loose your hopes and aspirations, now I cannot tell all wha...t to feel or do on this matter, but I will tell what I am doing as an individual of God,since I know this is God sent,since I know vividly what all the governments and the greedy have tried to destroy all my hopes and my aspirations, since I know that after 14 years we are finally seeing the fruit of our suffering taking heed, 

I will see it through because my God is awesome and He never comes in late. This is here my friend and I know that no matter who or what is out there giving you what you call lost hopes,I'm not one of them,see my mission before Jehová is to lead all the hopeful and faithful to the end of this journey and maintain there Hopes focus on the real deals ahead,and to keep God's dreams alive in those 28 million hearts just to help humanity and teach them to PAY-IT-FOWARD. IN MY HONEST OPINION GOD HAS WON. HAPPY JOURNEYS, NA'MASTE

FRANK26 TIDBIT, 20 OCT

You know that Dr. Shabibi has the green light. Do you think that Iraq is slowing down the monetary reform? No! Iraq is stepping on the gas.  The bad guys that once controlled the GOICBI are gone.  …the investment law was delayed, postponed…if you want to believe that…that is your business. But, deep in my heart they are waiting in a top-drawer waiting to be released when Dr. Shabibi is at the helm of the CBI.

DINAR GURUS UPDATE, 20 OCT

10-20-2015   Newshound Guru Kaperoni   I hope your wrong [Guru] Mike, as I see the news media has reported such on a few sites.  But the parliament website itself has not.   The official press statement from the parliament website is clear...next session.  And the next session is tomorrow (20th).  And I would hope that the parliament site would have the most accurate information.  [reference Guru mike post 10-19-2015]

10-20-2015  Newshound Guru Millionday   [Are their more amendments to this investment law? Will they do them all or drag it out one by one?]  THEY HAVE STATED IT WILL GO THROUGH AS ONE LAW -- WHICH LEADS ME TO BELIEVE BY WHAT I HAVE READ --- THEY HAD THESE TWO AMENDMENTS TO GO OVER/CHANGE --- THEY ARE ALREADY PROMOTING THEIR INVESTMENT LAW AS A HUGE BONUS FOR INVESTORS.

10-20-2015   Intel Guru Delta
   The CBI – they are spending 5 Billion Dollars a month to give to the Iraqi banks – (to defend the Iraqi Dinar).   Reserves...he said that only...about 55 Billion left-over...which means by the middle of next year, they will run out of reserves. So what happens then? Iraq would collapse.  The revaluation of the Iraqi Dinar will fix a lot of problems.  For us, this appears to be good news because everyone is telling Iraq that they need to revalue at a very good rate to help out with the current situation.  The nation of Iraq will collapse if they don’t do something before the end of the year...maybe even November 21st you might see something.  Abadi knows that the economy will collapse without it. This is 100% fact!  ...they have no choice and they really are out of time...the authors of the plan will lose. This is very, very important. They know what they need to do.  I believe before the end of the year they MUST do something!  [post 2 of 2]

10-20-2015   Intel Guru Delta   [via FrostyTheSnowman]     I want to talk to you about the article that I posted back on the 16th of October.  The economist is talking about the economic crisis in Iraq – and offers his opinion of how to get over the crisis. He claims that in the beginning of 2016, Iraq needs to make some changes to avoid some problems. So many events led to the crisis -- (ISIS, corruption, oil prices).  He said that Iraq needs to boost the private sector and agriculture.  He said the solution (...coming very soon) ...the very most important solution would be for the government to reevaluate the Iraqi Dinar.  [post 1 of 2....stay tuned]

10-20-2015   Intel Guru Frank26  [via FrostyTheSnowman]  You know that Dr. Shabibi has the green light. Do you think that Iraq is slowing down the monetary reform? No! Iraq is stepping on the gas.  The bad guys that once controlled the GOICBI are gone.  ...the investment law was delayed, postponed...if you want to believe that...that is your business. But, deep in my heart they are waiting in a top-drawer waiting to be released when Dr. Shabibi is at the helm of the CBI.  You don’t need an Investment Law unless you are EXPECTING something to happen.  Investment Law is for who? Investors who want to come into Iraq. YOU are in investor in Iraq – without going into Iraq. That is why this is so important. I believe that the Investment Law may bring forth the HCL.   We must see the LAWS...the LOWER DENOMS...then Dr. SHABIBI.  IMO – the laws are passed they are just waiting for them to raise the value of their currency...All of the "old-timers" will remember...in the still of the night...

10-20-2015   Intel/Newshound Guru Mnt Goat   I can tell you with all my heart and soul there will be NO RV until at least early January 2016. Again I will say this is only if Iraq can meet and fulfill its promises as part of the future process and plans for Iraq.  Can they maybe accomplish their commitments prior? I do not have much faith in them as long as the Maliki syndrome is still present. It is part of the legislative bottleneck. We are definitely now on track for an early 2016 opportunity.

DEALER OF IRAQI DINAR IN PUERTO RICO UPDATE, 20 OCT

They said me this bank is well involving in the GCR.

Deutsche Bank reveals radical restructuring plan - BBC News
Deutsche Bank has Announced a radical restructuring as part of a drive to restore its reputation and profitability.
BBC.COM

Spanish

Me dicen que este banco esta bien envolucrado en el GCR.
Deutsche Bank has announced a radical restructuring as part of a drive to restore its reputation and profitability.
BBC.COM

TERRYK CHAT UPDATE WITH MAC, 20 OCT

Morning Coffee with TerryK and Mac 10/20/2015 9:59am edt

arizona49:  terryk Good morning,  ready 


terryk:  Morning all
terryk:  002 maybe joining us today fyi
terryk:  az
terryk:  ken


kenbbq1:  Hey TerryK
kenbbq1:  Hey mac


mac:  good morinig team mates.


terryk:  big man. Morning


jannilew:  Okay, I have a question for tk and mac: Is there any scenario, that you can imagine, where this rv doesn't happen, ever?


terryk:  Big Mac


mac:  mornin TK


terryk:  nope


mac:  no.


terryk:  none at all
terryk:  why do u ask that


mac:  if it is a possibility then i just wasted alot of time.


jannilew:  thank you!!! I sometimes feel like I'm going crazy


mac:  Faith


jannilew:  yes Faith. I'm working on that. Good mostly but ever once in a while....


mac:  Jann, it happens to all of us. Just keep in mind you are only given today. so just hold on for today tomorrow will take care of itself.


jannilew:  good advice. Thank YOU


terryk:  jann let me put it this way if Kuwait did this and so many other countries why not iraq


mac:  so, what are we dealing with today? Who thinks the investment law will be completed today or the 27th.


terryk:after all during its hardest times they had a currency, sad am area where he killed peeps for fun
terryk:  im hoping today mac


mac: the tough part of this investment has passed. we are on the home stretch.
mac:  Me too. couldnt find two opinions to agree on when "tuesday next week" is.....


arizona49:  Alot of decision have been made behind closed doors, why not the Investment Law.....Abadi did say, he wanted this done and w/o anymore conflicts


mac:  AZ Abadi said he would overide parliment and implement himself if they didnt get daown to business.
mac:  Ihear isis has some toyotas they can sell you cheap.


arizona49:  mac 6,000 of them, right? or was it 9,000
wushock92:  Yeah, and I hear Toyota isn't too happy about that


terryk:  so heard rumor Isis running out of iraq


kenbbq1:  So are we still in the month, in the week, or in the day for this  


mac:  Always...


terryk:  this week I'm hearing
terryk:  hoping Thursday night


mac:  So in our conference calls we talked about progress vs accomplishment. Progress is moving at incredible speed (for Iraq that is.) So dont focus on the flip of a switch, just watch, it feels like we are being ushered toward our future. IMO
mac:  With the Trade minister and his brother being apprehended on a plane shows the action from the words are starting to carry through as we speak.


terryk:  come on Iraq


arizona49:  That was a quick arrest.....warrants went out yesterday, they were picked up yesterday...love it!!


mac:  If they are publically arrest members of their own gov't then the hammer has dropped and the gov't can reduce salaries just by the number of arrest they are making
mac:  AZ they took him off a plane, then he said he would personally go to the GOv't to defend his innocense. Shouldn't he have done that BEFORE getting on the plane? Just sayin.
terryk:  you would think huh


arizona49:  I would think 


mac:  This is the old monkey with the peanut coconut trick.
mac: Did I lose you?


terryk: So do we all have a plan to exchange
terryk:  u did me


beach:  yes i have a plan from there hand to mine. Is my exchange.
beach:  NO my plan is to go in our trust


terryk:  good plan


mac:  IN southest asia they take a coconut and drill two hole opposite each other. one hole they tie a string to a tree. the other is just big enough for the monkey to put his hand in. Place a peanut in the cocnut. when the monkey grabs the peanut his hand is now too big to come out of the whole. You can literally place a bag over them and they will not let go of the peanut.


terryk:  no one else has mentioned that one
terryk:  Hmmm mac


mac:  So the corrupt offical IMO are monkeys with their hands in the cococnut.


terryk:  that's good mac
terryk:  i like it
terryk:  http://translate.google.com/translate?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.almadapaper.net/ar/news/497620/%25D8%25B2%25D9%258A%25D8%25A8%25D8%25A7%25D8%25B1%25D9%258A-%25D9%258A%25D8%25A8%25D8%25AD%25D8%25AB-%25D8%25A7%25D9%2584%25D8%25AA%25D9%2588%25D9%2582%25D9%258A%25D8%25B9-%25D8%25B9%25D9%2584%25D9%2589-%25D8%25A7%25D8%25AA%25D9%2581%25D8%25A7%25D9%2582%25D9%258A%25D8%25A9-%25D8%25A7%25D8%25B3%25D8%25AA%25D8%25AB%25D9%2585%25D8%25A7%25D8%25B1-
terryk:
So az open and post please
arizona49 you got it
arizona49:  Zebari looking to sign the European Investment Bank in Iraq agreement Baghdad / term Search Finance Minister Hoshyar Zebari, acting with the European Union mission to Iraq Konstantinos Vardakiz signing of an agreement between the two sides and contribute to the development of ways to facilitate the European Investment Bank in Iraq. According to a statement of the ministry received the "long" a copy of "Zebari met with the acting European Union mission to Iraq. During the meeting, received a letter the European Investment Bank on the development of economic and investment cooperation with the bank mentioned by signing an agreement between the two sides contribute to facilitate and develop ways Bank investment in Iraq. " The minister stressed Iraq's desire to develop its relations with the bank as one of the EU institutions, which is associated with the agreement of Iraq partnership and cooperation between the two sides by the site in 2012. The meeting also touched on the work of the European companies operating in Iraq and its role in stimulating the economy, investment and the importance of creating ways to work successfully, and the importance of exchange of visits between the European Union and the relevant Iraqi authorities. On the other hand, the minister briefed on the financial situation in Iraq based on the draft 2016 budget and the options in front of the ministry to narrow the financial gap and fill the deficit.
terryk:  so this law is to be signed today?
mac:  YES!!!!!!! THIS IS AWESOME!!!!!
arizona49:  More investment....
terryk:  so this is huge
arizona49:  whoooooooo hooooooooo
terryk:  but it does not give a date when
mac:  Priming Iraqs' economy pump!!!
mac:  I read that as a letter requesting a letter of agreement from zebari. Which Z says he will sign.
terryk:  hey more staff than peeps
terryk:   how do we get more peeps in
mac:  Well when a daddy chicken loves a mommy chicken,....you know the rest.
terryk:  but hey our mission is complete educate peeps to search for themselves
kenbbq1:  so have we gotten a new reserve currency yet?
terryk:  be right back
mac:  Not yet, for me at least.
mac:  Who thinks the debt ceiling will be raised? Nov 3rd comes pretty fast.
mac:  13 days from now.
terryk:  Back
terryk:  thats a automatic given right mac
mac:  TK debt ceiling?
arizona49:  mac this was an interesting post, from yesterday afternoon >>>> Jack Lew: I worry about 'terrible' debt limit accident >>>> Treasury Secretary Jack Lew said Monday he worries that waiting until the last minute to raise the nation's borrowing authority could result in an accident "that would be terrible." Last week, Lew said the U.S. debt ceiling will be exhausted Nov. 3, two days before previously estimated. In a letter to congressional leaders, he added that a remaining cash balance of less than $30 billion would swiftly deplete. "Our best estimate is November 3rd is when we'll exhaust what we call extraordinary measures; those are things we can do to manage things. I will run out of things that I can manage on November 3rd," Lew told CNBC's "Squawk Box." The federal government is scraping by just under its $18 trillion legal borrowing limit. >>> READ IN FULL and watch Video >>>>http://www.cnbc.com/2015/10/19/lew-i-worry-there-could-be-a-debt-limit-accident-that-could-be-terrible.html
terryk:  yea
mac:  Read that. Thought it was interesting Lew is using the same phrase KTFA Frank used couple of weeks ago.
terryk:  ok all have to go 
terryk:  so with that
terryk:  im really pumped what's going on in iraq
arizona49:  terryk Thank you
jannilew:  thanks!
mac:  The entire week is going to be wait and see, but you wont be dissappointed.
terryk:  God Bless u all. Tomorrow same time same bat station
mac:  OK TK ttyl. I am out too. Score today AXLE-1, Mac-0. Stupid axle
mac:  Getting a bigger hammer. Let you know who wins tomorrow. Later family.
arizona49:  Thank you mac have a great day
wushock92:  See ya, Mac. Be careful

DINAR IRAQ & DONG VIETNAM UPDATE, 20 OCT

Haider Al-Abadi on Twitter: “Important breakthrough today as the Council of Ministers approves the proposed federal budget for 2016” MOVEMENT IN IRAQ ALL IN OUR FAVOR AND MOVING IN A DESPERATE RATE…LIKE VOTES TODAY THAT WHERE PREVIOUSLY SCHEDULED FOR TOMORROW. EVER SEE THEM DO THINGS FASTER THAN SCHEDULED? NEVER BEFORE TODAY! ABADI OPENED GREEN ZONE LAST WEEK AND THE PUBLIC IS FREE TO BE ANYWHERE. THEN YESTERDAY HE LIFTED ALL EXTRA SECURITY POLICE AND WENT BACK TO STANDARD COVERAGE. BANKS THERE ARE ALL OPEN AND DOING BUSINESS WITH THE PUBLIC. BANKS THERE ARE ALSO ANXIOUS ALONG WITH RETAILERS TO SEE MORE BUYING POWER THEY HAVE BEEN PROMISED FOR YEARS NOW. WE ALL WANT THE SAME THING AND ABADI IS DOING ALL HE CAN TO POSITION THEIR COUNTRY FOR GREATNESS. WE ARE GETTING CLOSER EVERYDAY.
*******
If I had a dollar for every article that talked about monetary and economic reform that was “just around the corner”, I wouldn’t need the dinar to increase in value, I’d be rich already. I can remember all the way back to 2012, when Shabibi attended the conference in London, that the articles and others thought Iraq was ready to initiate a change in the rate, why else would Shabibi go to London? Well, here we are, three years later and all Iraq’s done is back up, there’s been very little forward movement. What Iraq is lacking, in my opinion, is the political will to enact the great ideas that the world and many noted economists have suggested. I’m not down on the dinar, nor am I negative, I’m pragmatic about the progress of Iraq.
****

KTFA CC: PLAYBACK LINK, 20 OCT

The first part is Business Promo and the second part is Dinar/Iraq Intel.
PLAYBACK #: 641.715.3639, PIN: 156996#

POPPY3 & MILLIONDAY TIDBITS, 20 OCT

Poppy3  Haider Al-Abadi on Twitter: "Important breakthrough today as the Council of Ministers approves the proposed federal budget for 2016

MOVEMENT IN IRAQ ALL IN OUR FAVOR AND MOVING IN A DESPERATE RATE...LIKE VOTES TODAY THAT WHERE PREVIOUSLY SCHEDULED FOR TOMORROW.
EVER SEE THEM DO THINGS FASTER THAN SCHEDULED?  NEVER BEFORE TODAY! 

ABADI OPENED GREEN ZONE LAST WEEK AND THE PUBLIC IS FREE TO BE ANYWHERE.

THEN YESTERDAY HE LIFTED ALL EXTRA SECURITY POLICE AND WENT BACK TO STANDARD COVERAGE. BANKS THERE ARE ALL OPEN AND DOING BUSINESS WITH THE PUBLIC.

 BANKS THERE ARE ALSO ANXIOUS ALONG WITH RETAILERS TO SEE MORE BUYING POWER THEY HAVE BEEN PROMISED FOR YEARS NOW.

WE ALL WANT THE SAME THING AND ABADI IS DOING ALL HE CAN TO POSITION THEIR COUNTRY FOR GREATNESS.

WE ARE GETTING CLOSER EVERYDAY.
************

Millionday   I HAVE BEEN WORKING ON THE INVESTMENT LAW VERIFICATION.  THERE HAVE BEEN MANY REPORTS STATING DIFFERENT RESULTS CONCERNING THE INVESTMENT LAW -- STARTING YESTERDAY THROUGH TODAY. 

 IMO IT IS NOT PASSED AND THEY WILL MEET TOMORROW ON THE AGREED UPON AMENDMENTS...BUT NO GUARANTEES ---THIS IS IRAQ.

S3A CHAT UPDATE, 20 OCT

S3A : 




  • The People’s Republic of China Subscribes to the IMF’s Special Data Dissemination Standard

    Press Release No. 15/466
    October 7, 2015

    The People’s Republic of China subscribed today to the International Monetary Fund’s Special Data Dissemination Standard (SDDS), marking a major step forward for official statistics in the country. Participation in the SDDS is expected to enhance a country’s availability of timely and comprehensive statistics and contribute to the pursuit of sound macroeconomic policies.
    “The subscription to the SDDS underscores China’s strong commitment to transparency as well as to the adoption of international best practices in statistics,” said Mr. David Lipton, First Deputy Managing Director of the IMF, at a ceremony on the sidelines of the IMF-World Bank Annual Meetings in Lima.
    “China and the IMF have been working together to improve China’s statistics for many years and subscribing to the SDDS is another milestone of this fruitful and important collaboration,” said Mr. Yi Gang, Deputy Governor of the People’s Bank of China. “We are committed to further strengthening our statistical system and enhancing transparency, as this is not only crucial for our own policy making, but also beneficial for a better understanding of the Chinese economy by the outside world,” he added.
    China is the 14th country to graduate to the SDDS from the IMF’s General Data Dissemination System (GDDS), in which the country has participated since 2002. China’s participation brings the number of subscribing economies to 65.
    Background
    The SDDS, established by the IMF in March 1996, is intended to guide members in the provision of economic and financial data to the public. Subscription to the SDDS enhances the availability of timely statistics, thereby contributing to sound macroeconomic policies and the proper functioning of financial markets. The SDDS identifies four dimensions of data dissemination—data coverage, periodicity, and timeliness; access by the public; the integrity of the data; and data quality. Although voluntary, a subscribing member commits to observe the standard and to provide information (metadata) to the IMF about its data dissemination practices. This information is made publicly available on the IMF's Dissemination Standards Bulletin Board (DSBB).
    The DSBB now provides comprehensive documentation in English on the statistical practices of China for the SDDS data categories, hyperlinked to country data included in the National Summary Data Page, which is maintained by China’s National Bureau of Statistics.
    China’s SDDS information is available athttp://dsbb.imf.org/Pages/SDDS/CtyCtgList.aspx?ctycode=CHN

    • Having been in this investment for the past 10 years or so, this is a bit of the same ole same ole. In fact we hadn't really looked at our investment until about a year and a half ago, the Dinar sits in a safe deposit box and will be broken out when needed. Iraq is moving ahead daily, So EXO is correct in saying that IRAQ is doing just fine without the currency being international. Either way, someday the rate will change and most will not even see it happen. Takes me back to the Kuwait RV, I didnt even know it had changed in value until I walked in the bank with a bunch of currency that I thought was worthless, it was a happy surprise. Keep the faith folks. Life imitating art, In the end, it doesn't even matter.

      • BACK IN APRIL WE WERE TOLD THINGS WOULD PICK UP MID OCTOBER AND THINGS HAVE PICKED UP DEFINITELY. 
        AND YES WE HEARD ALL THE RUMORS OF US DOLLAR CRASHING TODAY AND THE RV/RI TODAY AS WELL
    • TNT & KTFA CHATS UPDATE, 20 OCT

      TNT : 


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

      Fitzgerald:  IF I WERE A BETTING MAN I WOULD SAY BETWEEN THE 20TH AND THE 25TH IS A GOOD TIME FOR THE BANK

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

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

      FOR IMMEDIATE RELEASE July 14, 2015

      Pope Francis Calls for Global Bankruptcy Process 

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

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

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

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

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

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

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

      View the United Nations General Assembly Resolution on a legal bankruptcy framework.
       
      http://www.jubileeusa.org/press/press-item/article/pope-francis-calls-for-global-bankruptcy-process.html

      *****

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

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

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

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

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

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

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

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

      Al-Fayhaa TV | Al Fayhaa TV

      Published on Oct 19, 2015

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

      https://www.youtube.com/watch?v=e4_vAzBM238&feature=player_embedded#t=0