don22250 » October 6th, 2014, 11:54 pm
Frank has said he does not know the date or a rate for so long he has a hard time giving an exact date.
What I heard was the rate coming out at 1 to 1 and then going up to 3 plus over time.
The date between the 18 and the end of this month, not to go past the 31st. He gave himself an out by saying up to 3-15-15……..That's what I heard IMO.
My opinion of October with it's far reaching tentacles of further possibilities is confusing to some ............ Valuable to some more.
If I am wrong about October many will movie in on me with criticism ............ I will move on to November.
Let's see what happens .......... In Godspeed. KTFA, Frank
KTFA Monday Night CC.
The first part of call is Business Promo Night, and the second part is Dinar/Iraq Intel.
PLAYBACK # : 760.569.7699 PIN: 156996#
walkingstick » October 7th, 2014, 1:19 am
Crisis meeting in Washington
The mood at the annual meeting of the International Monetary Fund and the World Bank is a somber one. The global economy is growing weaker, and new dangers from financial markets further dampen participants' spirits.
When German Finance Minister Wolfgang Schäuble and Bundesbank President Jens Weidmann join their counterparts from 187 countries at the annual meeting of the International Monetary Fund (IMF) and the World Bank this week, optimism about the state of the global economy will be in short supply.
With the exception of the United States, economic growth around the world is meager at best. On top of that, the Ebola epidemic and other geopolitical flashpoints are endangering what little progress has been made.
Six years after the financial crisis struck, the world economy is still crippled, and many countries are still grappling with the long-term consequences, said the IMF's Managing Director Christine Lagarde.
The lingering effects of the financial crisis is apparent by the high public and private debt levels in many countries and by stubbornly high unemployment, Lagarde told students during a keynote speech at Georgetown University in Washington D.C., speaking of "clouds hovering over the global economy."
Old crises, new dangers
The conflicts in Ukraine, the Middle East and Asia could create turbulence in financial markets and have a devastating effect on commodity prices, Lagarde said. The Ebola outbreak should also be taken seriously - to the point that people do something about it rather than only pay lip service. The IMF chief had kind words for emerging and developing economies: They were the ones who carried much of the burden of the crisis, contributing roughly four-fifths of global growth since 2008.
However, these countries have to accept that such a high growth rate is not sustainable forever, Lagarde said, conspicuously ignoring the fact that Brazil, Russia, India, China and South Africa (BRICS) just founded their own monetary fund and a private development bank to act as a counterweight to the western-dominated IMF and WB. One doesn't talk about impersonators - one just has them.
Wariness over shadow banks
One thing that the IMF is surely worried about and that will almost definitely play a role in Washington's deliberations is the rapidly growing role of the so-called shadow banks - institutions, such as hedgefunds or pension funds that do business like banks but aren't subject to the same strict regulations.
Since the outbreak of the financial crisis, the warning never faded that the ever-more closely regulated credit lending business of private banks could withdraw to more weakly regulated sectors of the financial market. This development is driven by a mixture of different problems: Tougher bank regulation, low interest rates and abundant liquidity.
The biggest shadow bank sectors in the world are located in the US, the eurozone and Great Britain, according to the IMF. In Great Britain, the assets of this sector are twice as large as anywhere else, measured by total economic output. In the US, assets are even bigger than those of the traditional banking sector. In the US and eurozone, the number of shadow banks involved in financing is still rising, and in China, that share accounts for 25 to 35 percent of annual economic output.
A departure from loose economic policy
In addition to the rapidly growing shadow bank sector, another thing that the IMF is worried about is the "asynchronous" monetary policy of the central banks in industrialized countries. While the US is already gradually winding down its ultra-loose monetary policy, the president of the European Central Bank, Mario Draghi, is arranging to buy up all the toxic assets of the countries in the eurozone's southern periphery.
"A loose monetary policy prevented the worse from happening during the crisis, and all of the industrialized countries' central banks applied these means," IMF's Lagarde said. "But that alone cannot boost an economy. You can't score a goal with only defenders."
That's why she has called on Washington to adopt a more decisive policy. Structural reforms in product and labor markets are just as necessary as a sustainable budgetary policy and public investment in infrastructure. According to estimates by experts, the global need for infrastructure investment is going to hit 6 trillion in the next 15 years.
The Trade Bank of Iraq has issued Letters of Credit totaling over US$ 1 Billion to 39 countries.
The JPMorgan Consortium
The operating consortium banks are providing expertise, systems and back office support to the Trade Bank of
Iraq. All transactions originated or destined for Iraq are routed through one of the operating consortium banks.
The consortium banks will liaise closely with Trade Bank of Iraq and Iraqi importers and exporters.
Operating Consortium Banks Consortium Participating Banks
JPMorgan Chase Bank (Coordinator) Akbank TAS
Australian and New Zealand Banking Group Ltd. Bank of China
Bank Millennium SA The Bank of Tokyo-Mitsubishi, Ltd.
National Bank of Kuwait SAK Bayerische Hypo und Vereinsbank A.G.
Standard Chartered Bank PLC Calyon (formerly Credit Lyonnais)
Development Bank of Singapore
Royal Bank of Canada
Gruppo SanPaolo IMI SpA
Standard Bank Group Limited
Iraq new 250- and 500-dinar notes confirmed
I just dont see how coming out with such large notes is good news if were looking for Iraq to rv at the rate it was prior to the invasion of Kuwait.
If they came out with 1/2..50cent... 1 dinar then I'd be excited. But to rv using the same currency just does not add up in my head. Ive made this type of post before and I guess it gets overlooked.
If your going to rv even 1 to 1 why wouldn't you use the same denominations as you did in the 90s. I just see the same rate when there using the same denominations.
Good morning Alan,
I do understand what you are thinking because I have family and friends with your same thoughts in mind.
I explained it to them that Iraq is not an electronic payment processing country, yet.
Once the reinstatement/revalue happens, the larger IQD notes will be used to make high cost purchases (i.e. House, car, etc.) and for deposits between banks.
As the country's payment process changes to be a more cashless society (electronic), the citizens will start using credit/debit cards and bank wires for the larger transactions (just as the western world does now).
That however, will take years to implement and as time passes and the citizens become a cashless society, the larger notes will slowly be eliminated from circulation (just like the $500, $1,000, $5,000 and $10,000 USD notes did until the 1940's).
The larger notes that we have now will eventually only be used by other countries as asset holdings (aka a reserve currency).
I hope that makes sense. Have a great day!
jdtolle » October 7th, 2014
Be honest about who you are. It’s tiring to pretend you’re someone you’re not.
Be honest about what you desire. It’s a waste of time and energy to strive for what you don’t even want.
Be honest with yourself and with others about the challenges and the possibilities. You can absolutely achieve great things, and the way to do that is by being realistic about what must be done.
Be honest in what you say and in what you do. Put the irrefutable power of truth on your side.
Deception may seem easy and convenient in the moment, yet it is invariably destructive in the long run. Being honest requires strength, discipline and integrity, and those will all serve you well.
Be honest for your own sake, for the sake of others, and for the sake of truth itself. Be honest, and give a continuing, solid boost to your best possibilities.
— Ralph Marston Wishing All a safe and blessed day