KTFA FAMILY ........ FRANKENSTEIN WAS A COMPILATION OF MANY PARTS ......... IT WAS UGLY.
THE IQD'S MR (Monetary Reform) IS ALSO A COMPILATION OF MANY MANY MANY PARTS COMING TOGETHER........ NOW!!! IT IS ............. BEAUTIFUL!!!
MY LADIES ARE ABOUT TO POST SOME POWERFUL INFORMATION ......... I AM ASKING YOU TO STUDY THIS FOR MONDAY'S CC.
THIS INFO IS COMPLEX ..... IT COVERS MR OF IQD....... CURRENCY INCREASE/BASKET........ LIQUIDITY .........
WB (World Bank) ......WTO (World Trade Organization) ......WORLD ECONOMIES.......GENEVA ....... JUBARI AND 5 TRILLION WASTING TIME.
Wait till You see what's coming .........
PLEASE ENJOY....... KTFA, Frank.......... Yes ...... I'm screaming this....... Wink.
MY LADIES » October 11th, 2014, 6:26 pm
SORRY FOR SUCH A DELAY, THERE IS JUST SO MUCH OUT THERE AND WE WILL EXPLAIN MUCH OF THIS ON CC WITH FRANK ON MONDAY NIGHT. SO LET’S TAKE A WALK AROUND THE WORLDS AND SEE WHAT’S GOING ON AND CONNECT AS MANY PUZZLE PIECES AS POSSIBLE FOR NOT JUST THE IRAQI DINAR BUT THE GLOBAL MONETARY REFORM.
IN NEW YORK OCTOBER 14TH AND 15TH WILL BE THE MIDDLE EAST NORTH AFRICA (MENA) PRIVATE SECTOR CONFERENCE ON CORRESPONDENT BANKING.
HUMMM DOES THAT SOUND FAMILIAR? WE SPOKE TO YOU ABOUT THIS ON MONDAY AND TUESDAY NIGHT. WE SPOKE OF IRAQ USING STANDARD CHARTER TO HANDLE INTERNATIONAL BANKING FOR IRAQ DO YOU REMEMBER?
NEXT IF YOU CLICK THOSE LINKS AND LOOK AT THE PARTNERS OF ARAB BANKERS ASSOCIATION OF NORTH AMERICA (ABANA) YOU WILL SEE SOME FAMILIAR NAMES THERE THAT WE SPOKE OF OVER THE PAST FEW MONTHS FROM THE CBI.
SPECIFICALLY STATE STREET BANK, AND NY MELLON, AND JP MORGAN AND CITI, REMEMBER WHEN CBI MADE HUGE DEPOSITS INTO THESE BANKS AND SENT OUT THE PDF THAT TOLD BANKS THEY COULD BUY CURRENCY DIRECT FROM THEM,
ALSO GULF PARTNERS IS A MEMBER THEY HOLD LARGE SHARES IN IN THE IRAQI STOCK MARKET AND OF COURSE STANDARD CHARTER.
WE ALSO FIND THE TOPIC OF THIS CONFERENCE TO BE RIGHT IN LINE WITH THE RESTRUCTURING OF THE BANKING LAWS TAKING PLACE NOW IN IRAQ.
I ALSO INCLUDED THE LINK FOR MIDDLE EAST AND NORTH AFRICA FINANCIAL ACTION TASK FORCE ( MENEFATF) THE FORMER GOVERNOR OF THE CBI BASSET TURKI IS THE PRESIDENT OF THIS GROUP AND IT DEFINES SOME OF THE CHALLENGES IRAQ IS FACING TODAY WITH THE STRUCTURING OF THEIR BANKING SYSTEM.
NOW LET’S GO TO GENEVA, THEY ARE HAVING THE UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, PROSPERITY FOR ALL OCTOBER 13TH – 16TH THIS CONFERENCE IS TALKING ABOUT UNITING THE PRIVATE SECTOR AND INTERNATIONAL LEADERS TO KICK START INVESTMENT.
DO YOU REMEMBER WE SPOKE OF TRANSNATIONAL CORPORATIONS IN IRAQ AND WHERE THERE ARE TRANSNATIONAL CORPORATIONS INTERNATIONAL CORPORATIONS ARE SOON TO FOLLOW?
REMEMBER HOW WE SPOKE OF STANDARD CHARTER PROVIDING THE ELECTRONIC PLATFORM FOR IRAQI BANKS. SO HERE WE ARE SEEING THE SAME THING ON A VERY LARGE LEVEL. LET’S HAVE A CLOSER LOOK.
THE UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD) IS CONNECTING THE PRIVATE SECTOR WHO HAPPENS TO HAVE 5 TRILLION SITTING IDLE ON THEIR LEDGERS AND COULD BE USED TO INVEST IN PRODUCTIVE CAPACITY.
WE FEEL THIS IS MORE OF WHAT WE TALKED ABOUT MONDAY AND TUESDAY EXCEPT NOW ON A GLOBAL SCALE.
NEXT WE SEE HERE FROM THE UST AND THIS COMES OUT AFTER THE SPEECH CHRISTINE LE GARDE DID IN MOSCOW WHERE SHE SAID SHE WOULD DO ALMOST ANYTHING TO GET HER THE BANKING REFORMS SHE SO DESPERATELY NEEDS
SO AFTER THAT JACK LEW COMES OUT AND SAYS THAT HE AND OBAMA ARE BEHIND THE REFORMS….HUMMMMM TIMING?
NOW FOR THE LAST THING... DARE I SAY THIS IS A BANKING HOLIDAY?
DARE WE THINK WHY ARE THEY DOING THIS NOW DURING THE SAME WEEK ALL THESE MEETINGS ARE HAPPENING?
WHY PLAY WAR GAMES NOW? WHY SIMULATE A BANKING CRISIS? DURING A TIME ALL SYSTEMS ARE DOWN DO WE EVEN DRAW AN OPINION FROM THIS….I DON’T KNOW YOU DECIDE.
OK SO NOW WE HAVE BEEN AROUND THE WORLD…THIS IS ALL HUGE THINGS WITH INCREDIBLE TIMING; I WILL BE BACK TO CONNECT IRAQ TO IT ALL IN OUR REGULAR NEWS. SEE YOU SOON. LOVE TO ALL MY LADIES
The 5th US–MENA Private Sector Dialogue on Correspondent Banking
October 14, 2014, 9:00 am
BNY Mellon 101 Barclay Street, New York, NY
This two-day conference will focus on Arab-US bank relations with particular attention to: The Future of Correspondent Banking in a Changing Regulatory Environment, OFAC Enforcement Issues, FATF 2014, Sanctions & AML, FinCen and new E-Payment Regulations, and more.
Featured speakers will include:
•Roger Wilkins, President of the Financial Action Task Force (FATF)
•Daniel Becker, Global Head of AML Compliance and Deputy Chief Compliance Officer, BNY Mellon
•Dr. Muhammad Baasiri, Vice-Governor, Central Bank of Lebanon
•Daniel Lawrence Glaser, Assistant Secretary for Terrorist Financing and Financial Crimes, U.S. Department of the Treasury
•Adnan Ahmed Yousif, CEO, Al Baraka Banking Group, Bahrain
•Nemeh Sabbagh, CEO, Arab Bank, Jordan
•Hisham Ezz El Arab, Chairman, Commercial International Bank, Egypt
•Vincent O’Brien, Chair, ICC Banking Commission Market Intelligence
•Barry Koch, Chief Compliance Officer, Western Union
•Alberto Musalem Borrero, Exec. Vice President, Federal Reserve Bank of New York
•Abdul Basit Turki Saeed , MENAFATF President & Governor of the Central Bank of Iraq
•Dennis Wood, Office of Foreign Assets Control, U.S. Department of the Treasury
•Dr. Amer Bisat, Managing Director, BlackRock
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, PROSPERITY FOR ALL.
Private sector and international leaders gather to kick-start investment in sustainable development
08 October 2014
The heads of dozens of transnational corporations and other private sector stakeholders will meet with Heads of State and government authorities to launch major new initiatives in the area of investment for development at UNCTAD’s World Investment Forum 2014 in the Palais des Nations, Geneva, from 13–16 October.
“Faced with common global economic, social and environmental challenges, the international community is defining a set of sustainable development goals to replace the Millennium Development Goals when they expire next year,” UNCTAD Secretary-General Mukhisa Kituyi said. “A key part of the new goals will be a robust funding framework.”
“There is a clear role for the private sector to galvanize efforts to deliver on the new goals, which cannot be met with public money alone,” Dr. Kituyi added. “The core purpose of this year's World Investment Forum is to bring together public and corporate leaders to amplify the discussion about private sector involvement in the sustainable development goals. UNCTAD’s World Investment Forum fulfils an important gap in global economic governance in the absence of any other international platform to discuss these issues.”
A unique gathering of more than 2,000 private and public sector representatives from the developing and developed world, the forum will consider policy frameworks and conditions for investment at national and global levels to address sustainable development challenges.
There will be nearly 40 events, including private sector-led sessions, ministerial round tables and the World Leaders Investment Summits. High-level participants include Uhuru Kenyatta, the President of Kenya; Portia Simpson-Miller, the Prime Minister of Jamaica; Roger Kolo, the Prime Minister of Madagascar; James Michel, the President of Seychelles; Didier Burkhalter, the President of Switzerland; Mehdi Jomaa, interim Prime Minister of Tunisia; and dozens of foreign affairs, investment and trade ministers from around the world.
The Forum will be addressed by United Nations Secretary-General Ban Ki-moon and hosted by Dr. Kituyi.
Findings from UNCTAD’s World Investment Report 2014 indicated that the total investment need in developing countries to deliver on the sustainable development goals will be $3.9 trillion per year. Current levels of investment leave an investment gap of some $2.5 trillion.
Transnational corporations in developed countries alone have more than $5 trillion lying “idle” on their balance sheets – money that could be invested in building productive capacity, particularly in sustainable development sectors.
A number of deliverables for investing in sustainable development will be announced at the event.
As the Forum is taking place in Geneva for the first time, attendance will also include a large number of leaders from the Swiss private sector.
The topicality of the theme of the Forum for the international investment and development communities is reflected in the great number of organizations that have partnered with UNCTAD for the event such as the Food and Agriculture Organization of the United Nations, the International Labour Organization, Joint United Nations Programme on HIV/AIDS, the United Nations Environment Programme, the World Trade Organization and the World Bank.
WORLD TRADE ORGANIZATION AND THE WORLD BANK HAD A MEETING YESTERDAY. WE FIND THE TIMING HERE REMARKABLE.
10 October 2014
WTO and World Bank join forces to provide Trade Facilitation support
The World Trade Organization and the World Bank Group have agreed to enhance their co-operation in assisting developing and least-developed countries to better utilize trade facilitation programs which can in turn help these countries to meet poverty alleviation and national development objectives.
Trade is critical for boosting growth in developing world, particularly in Africa
WASHINGTON, October 10, 2014 — The World Bank Group and the World Trade Organization (WTO) have agreed to enhance their co-operation in assisting developing and least-developed countries to better utilize trade facilitation programs which can help countries reduce trade costs and more fully engage in the global economy.
Trade facilitation aims to reduce barriers developing countries now face moving goods quickly and cost effectively by increasing port efficiency, improving customs and regulatory environments, and upgrading infrastructure to increase trade exports.
“Trade is a critical component to ending poverty and boosting shared prosperity and we are pleased to work with our partners at the WTO and other organizations to pursue these goals together,” said World Bank Group President Jim Yong Kim.
“Our own research tells us that African countries are missing out on opportunities for billions of dollars in extra export earnings because of existing trade barriers. Trade Facilitation was one of the important elements of the outcome from the Bali Ministerial and we remain fully committed to supporting implementation of the Bali deal as we see the development benefits of reducing costs to trade,” he said.
In July, the WTO launched its Trade Facilitation Agreement Facility, to ensure that no country is left behind and all are able to access the support they need. The Facility, which is designed to provide a fail-safe mechanism for developing countries that are unable to obtain support from the development community, will be available to help those countries implement the provisions of the Trade Facilitation Agreement - agreed on by all WTO Members at their December 2013 WTO meetings in Bali.
The WTO will work closely with partner organizations, including the World Bank Group, to identify sources of funding and support.
“I am delighted to announce this strengthened partnership between the World Bank Group and the WTO. Our coordinated efforts will ensure that developing countries are able to obtain the support they need to tackle the bottlenecks and high costs that impact so heavily on the competitiveness of traders in many developing countries. Our two organizations, working closely with all our development partners, will support trade facilitation reforms that are so crucial in cutting the costs of trade, alleviating poverty and promoting development,” said WTO Director-General Roberto Azevêdo.
Mr. Azevêdo and Dr. Kim, will discuss these matters and other trade issues at a Flagship Seminar Event at the World Bank to be held today, from 4pm to 5pm.
In June the World Bank Group announced a new Trade Facilitation Support Program to assist developing countries to implement the WTO’s Trade Facilitation Agreement. As the world’s largest multilateral provider of trade-related assistance the World Bank Group is a primary partner in the effort. The Bank’s support in this area is now more than $13.2 billion in grants and financing, half of which is focused on Trade Facilitation.
Today’s announcement confirms that the two organizations will work closely together to ensure that support is available for all who need it under the terms of the Trade Facilitation Agreement.
DG Azevêdo and President Kim have agreed that their organizations will work together to prepare a joint World Bank Group/WTO Study on the role of trade in ending extreme poverty while boosting shared prosperity next year.
OK SO WE FIND IT ODD THAT JACK LEW WOULD PUT OUT PARAGRAPH AFTER PARAGRAPH OF THINGS WE ALREADY KNOW?
Statement of Secretary Lew for the International Monetary and Financial Committee (IMFC) Meeting
WASHINGTON – Our meetings this week provide a good opportunity to assess the progress of the global economy and the policies needed to support strong, sustained, and balanced growth. In some countries, including my own, growth has strengthened but the global economy continues to underperform and the recovery remains highly uneven.
In the United States, the economic recovery has gained traction this year, with growth accelerating sharply in the second quarter. The September U.S. employment report confirmed that America’s businesses extended the longest streak of private-sector job gains on record, and favorable underlying fundamentals suggest the economy will continue to grow at an above-trend pace through this year and next year. Labor market conditions have improved notably in recent months, with the average pace of job growth picking up sharply and the unemployment rate falling below six percent, its lowest level in more than six years.
We expect the housing market recovery to continue despite recent slowing as labor markets continue to strengthen, incomes rise, and household formation moves back toward historical norms from its current low level. Meanwhile, firms are well positioned to invest, and the manufacturing sector is expanding. Fiscal drag on economic activity is diminishing and is expected to be negligible over the next several years. Our comprehensive response to the economic crisis — including through macroeconomic and structural policies — has laid the foundation for strong growth.
Some other advanced economies such as Australia, Canada, and the United Kingdom have also seen robust growth this year.
However, the global economy is now forecast to expand by just 3.3 percent in 2014 — well below what is needed to materially boost global employment and improve the living standards of our citizens. Weak demand growth is the principal culprit for chronic economic under-performance from many countries. What is needed globally is a comprehensive set of both macroeconomic and structural policies that forcefully support global demand. It is especially incumbent upon countries with external surpluses and fiscal flexibility to bolster their support for global adjustment.
The euro area’s recovery has substantially lagged that of other advanced economies, and recent data suggest the pace of the current recovery is slower than expected earlier this year. Euro area policymakers have taken steps to put in place firewalls, enhance monetary policy transmission, and remove tail risks from the markets, but significant macroeconomic and financial headwinds persist, including from a prolonged period of excessively low inflation. European leaders should focus on recalibrating policies to address persistent demand weaknesses in the near-term and boost potential growth over the medium to long term; demand and structural supply side reforms should go hand-in-hand to catalyze stronger growth. Indeed, at the recent G-20 meeting of Finance Ministers and Central Bank Governors in Australia, members intensified their call for boosting domestic demand in Europe, as part of an appropriate policy mix — fiscal, monetary, and structural.
Japan’s economic outlook is also uncertain, with growth projected to remain weak this year and next. The country has faced the twin challenges of deflation and weak growth for some time. External shocks, including the 2011 tsunami and nuclear power plant disaster, presented further challenges. The Bank of Japan’s monetary policy is breaking the deflationary cycle and supporting growth; however, policymakers need to carefully calibrate the pace of overall fiscal consolidation and to move decisively to implement requisite, growth-boosting structural reforms.
Turning to emerging markets, growth in China has downshifted but remains strong. Risks to the Chinese economy, however, have risen and the country still confronts the challenge of rebalancing the economy to consumption-led growth. China has ample space to adjust policies to support growth if needed. It is critical that Chinese leaders implement reforms that move the country toward a market-determined exchange rate and address financial sector risks. Growth in some emerging markets has faltered this year, and in those economies facing inflationary pressures and financial market vulnerabilities, the capacity of monetary and fiscal policy to cushion a growth slowdown is limited. At the same time, many emerging economies also need to move forward with structural reforms to support potential growth. In addition, greater exchange rate flexibility could provide some support in the face of external shocks.
The persistent weakness in domestic demand growth has also made the goal of achieving strong, sustainable, and balanced global growth elusive. Though global current account imbalances have declined in recent years as a share of global GDP, part of the decline reflects a demand contraction on the part of current account deficit countries rather than strong domestic demand growth in current account surplus countries. A continued absence of stronger domestic demand in the larger surplus economies will continue to negatively impact global growth.
In light of the weakening global backdrop, it is especially important that all G-7 and G-20 countries adhere steadfastly to their exchange rate commitments. G-7 countries should stand by their commitment to orient fiscal and monetary policies toward domestic objectives using domestic instruments and not target exchange rates; G-20 members should move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility reflecting underlying fundamentals, avoid persistent exchange rate misalignments, refrain from competitive devaluation, and not target exchange rates for competitive purposes.
Sustained global growth also depends on a well-functioning global financial system. As such, we reiterate the importance of continuing to move forward with the full regulatory agenda. We believe that further progress is critical to glob...
Finally, let me emphasize the deep commitment of the United States to the IMF and the multilateral system. The Obama Administration recognizes the need to continue to reinforce the strength and effectiveness of the international financial institutions, and that IMF quota reform and governance reform play a key part in achieving this goal. As the world’s first responder to financial crises and economic threats, the IMF promotes global growth and stability, and protects our national security and the health of our own economy. The IMF played a key role in helping stabilize the euro area and limiting the negative effects on the global economy, and is providing critical support to fragile economies in the Middle East and Africa that are facing threats from extremism and terrorism, undergoing political transitions, and battling the Ebola virus. We share the IMFC’s frustration with the continued delay in implementation of the 2010 quota and governance reforms, and President Obama and I are strongly committed to securing congressional approval of the reforms as soon as possible.
NOW THIS IS REALLY INTERESTING….HOW MANY TESTS DOES IT TAKE TO CHECK A SYSTEM?
Bankocalypse drill: US and UK to run ‘too big to fail’ collapse simulation
Published time: October 11, 2014 03:07
Britain's Chancellor of the Exchequer George Osborne (R) speaks to U.S. Treasury Secretary, Jack Lew.(Reuters / Alastair Grant)
The US and UK will stage a comprehensive simulation next week check whether the countries’ financial and banking sectors are still vulnerable to the problem of the ‘too big to fail’ institutions and coordinate their actions in case of such collapse.
Government financial leaders from Britain and US will simulate a failure of a large banking institution on Monday in Washington, DC, to test the effectiveness of each county’s banking regulations.
They hope the simulation – which will not mimic the collapse of any particular ‘too big to fail’ institution – will demonstrate what the officials have learned from the financial crisis about their respective roles, and how new practices should shield taxpayers from further bailouts. The simulation will run through procedures if a large UK bank with US operations failed, and those for a US bank with a British presence.
“We are going to make sure we can handle an institution that was previously regarded as too big to fail,” said UK chancellor, John Osborne, speaking to journalists at an International Monetary Fund meeting in Washington on Friday. “This demonstrates the distance we have come over the last few years to build resilience and learn the lessons of the financial crisis.”
Participating in the “war game” along with Chancellor Osborne will be US Treasury secretary Jack Lew, head of the Federal Reserve, Janet Yellen, and the governor of the Bank of England, Mark Carney, with senior officials from both countries.
“The purpose of the simulation was to make sure every player, including politicians, knew their own responsibilities and who needed to act, which creditors would take a hit, and how to communicate the authorities’ actions to the public,” Osborne told the Financial Times.
It has been six years since the 2008 financial crisis when $700 billion in taxpayer dollars was used to shore up failing institutions, besides the cost of other bailout programs such as for Fannie Mae and Freddie Mac that totalled at least $135 billion more. The financial crisis lead to mass unemployment, drastic cuts to US government social programs, and contributed to the economic downfall of several European states.
Since then regulations have passed in the US – the Dodd Frank Act of 2010 that forced banks to have in place capital and to draw up plans of how they would go through an ordinary bankruptcy and which groups would be paid off first.
Next week’s simulation, the results of which are expected to be released to the public, is designed to reassure the taxpayers in both UK and the US that their money will not be misused next time when a large financial institution turns out to be not that big to fail.