June 18th, 2014, 12:55 pm
Wednesday Morning News Summaries
Financial expert: dinar recovered a week after wobbling
The dinar did wobble over the last week in light of the violence that has suddenly plagued a number of Iraqi cities....but it has found firm ground again according to Dr. Mohammed Selah....he points out that the primary function of the CBI is to maintain stability of the "external value" of the IQD which is representative of the exchange rates.....by pumping dollars to banks they maintain the exchange rate as well as the purchasing power of the currency and restore confidence in it....the last comment in this article is telling I believe.....CBI reserves from the dollar cover about 1.3 of the IQD, with a possibility of higher coverage exceeding 100% for the dollar against the dinar.
National Union confirms its solidarity with the people of Kirkuk and its support for the administration of the province to save the security and stability
The PUK led by Talabani have expressed solidarity with the people of Kirkuk....from the sounds of things the Peshmerga have the city fortified in all directions to repel any advances at this point in time
he Kurds are seeing this situation as a golden egg on the ground for them in being able to reclaim Kirkuk after the area was taken from them by Saddam so many years ago.
Kurdistan Region may be forced to change currency
The Kurds are suddenly coming into a wealth of USD due to the revenue that is coming in from the sale of their oil....but to think they should create their own currency at this time is pre-mature.....IMO....it takes years to develop a new currency, it doesn't just happen overnight from the copy machine. Yes perhaps they can start dealing in the USD but not sure that is wise for them either.....they remain a part of Iraq and as such are tied to the IQD like it or not.....sure they can pay investors and contractors in USD but for the meantime they must pay the employee salaries in IQD which does not appear to be in short demand at this time according to officials at the banks in the Kurdistan.
Clinton: Iraqi government made a mistake for not reaching an agreement to keep U.S. soldiers
Just going to make a simple statement "What difference does it make" what this woman says....she is in no position to speak authoritatively about what is happening in world politics at this time.....yet she continues to talk as if she is in some leadership role.....shaking my head.
America rejects the position of the Saudi al-Maliki: your statements about inaccurate
The US is telling Maliki they find his statements about Saudi Arabia sponsoring terrorism as degrading and inaccurate.....the US State Department believes that Maliki continues to try and push blame onto SA and Qatar to hide the shortcomings of his own government....no doubt there needs to be some reconciliation attempt with the various sects and tribes within Iraq which has not been forthcoming in recent years.....this is something that Maliki is very obviously not willing to do.....just another marker that points to a new incoming government for Iraq.....how many more markers need to be highlighted before action is taken.
Citizens and bankers argue the decline of the dinar against the dollar
Iraqi citizens are clamoring about the weakened IQD last week saying that the cost to buy goods are rising as a result of what happened to the IQD in the days since the violence has picked up its pace....meanwhile the banks are saying that the IQD is not in significant danger at this point...that it is indeed rebounding....some of the decline is also attributed to many citizens being out of the country and exchanging IQD....give it time it will stabilize.
Diplomatic sources confirm that the Washington and Tehran to hold talks about changing Maliki
So the US has entered into talks with Iran regarding replacing Maliki......I can't believe we are doing this.....this discussion apparently was a sidebar conversation at the Vienna talks concerning Tehran's nuclear program.....got a minute for a brandy and cigar....let's talk about Maliki's future....shaking my head....serious flaw in diplomatic strategy I think....why talk to Maliki's ally if you want to see him replaced....is this aiming at putting in a mini-me? If you want/expect to become better friends/allies with Iraq you need to be talking to Iraqi's to make that happen....the right Iraqi's this time.....look for the one most likely to rally the sects and tribes together....who would that be...you have to have an idea.
Expectations under the guidance of Washington air strikes in Iraq during the next 24 hours
So are we going to do something in Iraq or are we just going to sit on our heels and wait....at least the military is talking some sense....in that intelligence flights could start as of now....followed up by air strikes within 24 hours....but the bottom line is we are ready to strike now....just need the green light...meanwhile O is stressing that any military action will not lead to stability in the absence of political agreement between political parties of Iraq.....like that is going to happen overnight....meanwhile back to my question.....do we sit on our heels and watch Iraq be overrun.....how stupid that would be in the end.
Kurdish Oil Keeps Flowing, For Now
The Kurds see the international row being between Iraq and Turkey.....they are not a part of it in their mind....so in the meantime....oil continues to flow from the Kurdistan, through Turkey, into storage tanks and onto awaiting tankers....the courts could take up to 18 months to render a decision on the matter....that time frame allows for a great deal of crude oil to be sold by the Kurds lining their pockets in some significant ways....they are pushing to export upwards of 250 million barrels per day in July and up to 400 by the end of the year.....I'm predicting that a new government will see things differently than the existing government....and will back off of what the Kurds are doing so as to get their share of the revenues.
Kurds waving the Kurdish flag on the territory of the disputed areas
Now a member of the State of Law bloc is upset over the Kurdish flag being raised in the areas they are helping to protect....claiming they have no right to raise their flag instead of the Iraqi flag.....ahhh...hello....who's forces turned and ran away from the terrorists.....just who stepped in and protected the people who were left.....maybe we need to think this through and realize finally that the Peshmerga is a force to be reckoned with whereas the Iraqi Army....well they leave a great deal to be desired it seems....by the way.....were they given orders to abandon their posts and just hand over real estate and equipment to the terrorists?
Barzani reveals that he told al-Maliki, the current risks before 6 months
President Barzani told Maliki of the risks associated with a terrorist threat 6 months ago.....but would he listen.....doesn't appear to have done that....he also warned of the problems brewing with the Sunni tribes.....but still Maliki chose the route of exclusivity in government and ignoring what was right in front of him.
The fight against economic crime: Court plan to control the prices of materials and exchange rate markets
The Iraqi Interior Ministry thinks they can control exchange rate appreciation.....hmmmm.....that will prove to be interesting....perhaps they have some control of things on the street....but the actual appreciation of the exchange rate....don't think so.....now can they control cost of goods, perhaps.....they are trying to assure citizens that they will be able to control food and medicine prices....but to what degree, citizens are already complaining about rising prices....amid rumors of flour disappearing....but they are supposedly being reassured that flour has arrived at the Umm Qasr port and is being delivered.....oh and by the way.....just who is left minding the store in the Interior Ministry.
Government adviser: a plan to end the rumors which affect the economy
To put an end to rumors about the economy a plan has been devised to terminate them......indicating that the Iraqi economy is based on the stockpiling of financial reserves at the CBI....with this in mind.....the security situation of some provinces will not have an affect on the economy....the Interior Ministry....second time we've heard from them today.....they are saying the exchange rate fluctuations are the results of rumors from enemies of Iraq.
Maliki: the first meeting of the new Council of Representatives after a few days
Maliki is saying that the uprising in Mosul is the result of infiltration of political differences within the security forces.....ok, if you say so.....meanwhile he is saying that in just a "few" days expect to see new Parliament who will address a large part of the security crisis.
CBI: Our reserves are "safe" and go beyond 70 billion dollars
Again we hear Turki making the statement that the CBI has the ability to support the exchange rate to the fullest extent...and "without a roof"....reiterating what we've heard in recent days that the reserves are safe and exceed $70 billion dollars while gold reserves have doubled three times in the current year.....STABILITY....STABILITY....STABILITY
Iran vows to defend Iraq Shi'ite sites; insurgents battle for refinery
Iran's president has vowed to help defend Shiite religious sites within Iraq .....meanwhile Sunni rebels have gained 3/4 control of the large refinery in Baiji, north of Baghdad.
Karbala is preparing to support the budget with private money to equip the volunteer fighters against "Daash"
Businessmen and traders in Karbala have shown an interest in funding volunteer fighters who go up against the DASSH terrorists....this is largely due to the lack of a federal budget at this time.
Urgent .. regional parliament gives confidence to Barzani as president of the provincial government Qubad Talabani and his deputy
In the midst of all the chaos....the Kurd Parliament announced that they are returning Barzani as President of the Kurdish government with Q. Talabani as his deputy.
Kurdistan need to increase its imports of petroleum products after the closure of the Baiji refinery
With the full closure of the Baiji refinery the Kurds will have to seek elsewhere for petroleum related products.
Karbala .. His disappearance banking office and 5 billion dinars withdrawn from the market
Apparently a trusted banking colleague in Karbala has withdrawn 5 billion dinars and disappeared with his family....it appears he took the money in the form of USD and no one has since him since.
The Americans are proposing to Iranian Shiite figure than al-Maliki to take over the Iraqi government
I am shaking my head at what our government appears to be attempting to do....and they call this foreign policy.....dealing with an enemy to establish a new government for Iraq.....at the same time negotiating on nuclear arms.....if there is even an inch of give to the Iranians on their nuclear program using Iraq as the bargaining chip there will be heck to pay I predict.....this would be the scandal of all scandals.
Maliki stands with Sunni leaders, appealing for Iraqi unity
Maliki stood on Wednesday with Sunni leaders...and appealed for unity within Iraq....this comes after the big meeting that was held last night behind closed doors...and even as they were televised as a group it was obvious the strained relationship of those standing on camera.....it was reported that no terrorist power represents any sect or religious group....meanwhile the fighting continues and draws closer to Baghdad....and in another direction the US is still contemplating just what if any its involvement will be in the current crisis, they basically have turned their backs on Iraq since the complete withdrawal of troops in 2011.
Iraq's Maliki defies call to reach out, accuses Saudis of ‘genocide’
The US continues to suggest one direction of movement for Maliki....to embrace Sunni politicians but he moves in the opposite direction arresting politicians and military leaders that he deems to be enemies....most Sunni's do not like the violence that is being done by the terrorists but there are small factions that support the effort and many of whom were supportive of Saddam are now uprising again....against the Shiites and Maliki's government.....the news is getting into a bad habit of repeating itself on many of these stories it seems.
Barzani Decides to Keep Peshmarga in Disputed Regions
Barzani has decided that it is wise to have the Peshmerga stay where they are currently in disputed areas of Iraq....they control some very important real estate at the moment and the Kurds are likely to want to hang onto these new areas.....they are intent on sharing power with the political powers of Iraq to avoid marginalizing any group.....I find it very amazing that as violent and as mobile as the terrorists have proven to be....they have largely left the Kurd areas alone at this point.
KRG reassures diplomats in Kurdistan over Iraq violence
The Kurdish government has been reassuring foreign diplomates in Erbil that they are safe there.....they state they have tried in the past to convince Baghdad of the threat of terrorists in this nature but Baghdad would not seriously consider their proposals...now they pay the price.....in the meanwhile....the Kurd Peshmerga will provide protection for all religions within the Kurdistan.
ISIS Takes Over Baiji, Iraq's Largest Oil Refinery
It was just a matter of time that the terrorists would overrun the largest refinery in Iraq, located at Baiji....they now have control of it....oil prices around the world are on their way up....as a direct result of the unrest in Iraq at this time....but thus far there has been no curtailment of Iraqi/Kurdish exports of oil....the loss of the refinery will mean that Kurds and others will have to seek other avenues to import hydrocarbon related products for their markets within Iraq.
Exxon Mobile evacuates staff from Iraq
Exxon Mobil has begun a large evacuation of many of its staff members from Iraq....this action will not affect Iraqi exports at this point in time.
News of the withdrawal of "Daash" all formations from the streets of Mosul
Someone from Mosul has reported that the terrorist street fighters have all withdrawn from Mosul at this time...government installations and banks are free at this time.....it sounds like to me that the terrorist have outrun their ability to hold such places as Mosul....makes me wonder how they are able to resupply their needs.
Investing in Iraq Worth the Risk?
This is an article that was discussed on the Monday CC.....Iraq being the perfect place to invest in for the future....3-5 years.....with expected returns that can double or even quadruple.....
it is a hot site....it may not appear so with the current crisis...but it is believed that will be short lived and good sailing will be ahead of them soon.
Family I have a need to end the news summaries for this morning here....I have a friend who is in need of spiritual help and must give that my attention this afternoon....enjoy what I have here.