Dinar Updates: Repost:
Poppy3 : Article quote: "Your national team revealed preparing promotion of the private local and industry sector strategy, on Saturday, about the government's intention to launch the strategy next week"
THEIR PLAN IS MAY AND THEY SAID IT IN INK...AND ALL THIS WONDERFUL NEWS NOW SAYING LAUNCH NEXT WEEK...WOW, WOW, WOW.
Millionday ACCORDING TO WHAT WE ARE READING THEY HAVE A TIMELINE FOR SO MANY LAUNCHES TO OCCUR NEXT WEEK.
HOWEVER WE HAVE TO WATCH THE ACTION.
....
Poppy3 : Article quote: "Your national team revealed preparing promotion of the private local and industry sector strategy, on Saturday, about the government's intention to launch the strategy next week"
THEIR PLAN IS MAY AND THEY SAID IT IN INK...AND ALL THIS WONDERFUL NEWS NOW SAYING LAUNCH NEXT WEEK...WOW, WOW, WOW.
Millionday ACCORDING TO WHAT WE ARE READING THEY HAVE A TIMELINE FOR SO MANY LAUNCHES TO OCCUR NEXT WEEK.
HOWEVER WE HAVE TO WATCH THE ACTION.
....
Q: [If the are planning in launching this next week, will the have the laws voted in place by then?]
Millionday: I WOULD ASSUME THEY EXPECT TO HAVE ALL PERTAINING LAWS IN PLACE FOR THIS ALL TO BE ACCOMPLISHED.
Q: [launch as in activate?]
Millionday: YES. I AM EXCITED TO SEE WHAT HAPPENS.
**************************************
KTFA:
JJONESMX: » May 24th, 2015, 9:11 am
CBI News & Announcements
( statement concerning banking and foreign transfers, banks own companies ) Board of the Central Bank of Iraq administration met on Tuesday, 2015 / 5 / 19 Minutes numbered ( 1525 ) and decided the following:
http://ift.tt/1ei96fB
************
JJONESMX: » May 24th, 2015, 9:40 am
Zain Iraq: Rings company en route to listing on the stock market in 2015
93 Show May 24, 2015 13:45 Rings
(Independent) ... Telecom ring company announced an owner of the joint-stock company to company Atheer Telecom Almtnqlh- (Zain Iraq) on 18 May, it was on its way to completion of the necessary regulatory measures to ensure the inclusion within the legal period specified in the approval of the listing of the Securities Commission.
According to a statement of Zain and Talga (Independent) said Sunday that "the Board of Directors of Zain Group formally agreed to put up for sale ratio of 25% of the shares of the ring owned by Zain Group to implement the terms of the IPO ring company in the Iraq Stock Exchange and in line with the conditions that have been disclosed in operating license granted to the company in Iraq by the media and communications. "
"And when you ask of its shares for trading, the presence of the ring company in the Iraqi Stock Exchange, a company valued at several billions of US dollars will contribute significantly to the total amount of the financial market", and Booze "will exceed the total amount of the financial market ten billion dollars for the first time in the history of Iraq and the Catalyst to attract foreign investments and foreign to the Iraq Stock Exchange, where the company will join the ring 95 other Iraqi company traded in the market. "
Commenting on the progress that has been made towards the company's inclusion in the Iraqi stock market, said Chairman of the ring Muhammad Jerjfja Inc.
"We are pleased to see that the process of our inclusion in Iraq is nearing completion with the Zain Iraq to work actively offering its shares to the Iraqis and all investors. In doing so, we offer investors the opportunity to participate in one of the most successful companies and stand with us as we move toward the next phase of development and growth. "
For his part, Badr Al-Kharafi, Managing Director of the company seal and Vice President of the Board of Directors of Zain Group according to the statement, "with the launch of third-generation 3.9G services in Iraq at the beginning of this year, and with continued investments in infrastructure, we believe that the possibility of significant growth still exist in the telecommunications market Iraq, despite the challenges posed by the security situation in the country "
Each of Jerjfja and Kharafi thanked the Iraqi authorities responsible and regulators have expressed and said,
"We are pleased to thank all those responsible in the media and communications and Securities Commission and the Iraqi market for securities on their professionalism and are pleased to take this opportunity to reiterate the commitment of the Zain Group to continue to work successfully in Iraq."
This has Zain Group announced the establishment as a private shareholding subsidiary of Telecom Athiramahdodh ring company in July 2013 in preparation for the process of listing on the Iraq Stock Exchange.
Upon completion of the ring company included in the Iraq Stock Exchange parent company Zain may be completed license granted to the company's obligations. (End)
http://ift.tt/1FIIgyQ
**
Citizens are afraid to enter large cash categories and experts they consider a new achievement
05/19/2015 Dinars / Abbas Al passengers Iraqi government's progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that Ataud benefit him.
Dinars / Abbas Al passengers /..rpma Iraqi government's progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that Ataud benefit him.
Iraqi street was trading days since the news that the Ministry of Finance, represented by the Central Bank will issue a new currency from the category of "50" thousand dinars and then followed after issuing another currency of a larger category of a "100" thousand Iraqi dinars.
The moves in light of the suffering severe the country as a result of fiscal austerity that has ravaged the country about more than a year and a large deficit in the state budget since, through a multitude of objects of expenditure and the adoption of the government to only rentier economy, oil and some industries light of, in addition to the face of the country to organize Daash terrorist war against it, and having to reduce staff in the public sector wages as well as stop the financing of some projects as a result of fiscal austerity.
Dr. appearance of Mohammed Saleh adviser to Prime Minister for Economic Affairs told "economic dinars" on the subject, saying: I am with this trend in the introduction of large cash categories because it will raise the efficiency of large payments large cash and categories system facilitates the trading of large parliamentary blocs so they shortened the monetary amounts by half or more and solve the problem of the transfer of those quantities, Iraq is still handles cash Order Cache and not the card that requires time and effort and the culture of the visa regime.
He adds that the benefit of this project was due to work done for years, which does not contradict with the project to delete the zeros because reform, there is no need to fear the introduction of these large groups to the market because the financial institutions in the country studied the subject from all sides and is a guarantor of safety.
Some citizens believe that the "large cash categories" to enter the market now is tantamount to adding new burdens on the ordinary citizen as simple salary categories will be hard to break or turn them into smaller groups in order to dispose of them.
They accuse the state to take decisions to Atsb in their interest never, through this confusion decisions is well thought out economic feasibility and benefits desired, but are skeptical about a lot of them that there are mafias significant financial and whales want to take advantage of the introduction of these large groups that might cripple the market movement and the elimination of small groups of categories of "250" dinars and the "500" and "1000" dinars final and the first affected by it is to cancel the taxi buses that operate within the alleys and removed from the "500" to "1000" and the abolition of the pricing "ticket" hospitals, the government's "500" BD also due to lack of loose change final of daily trading, and will be traders are the first beneficiaries of this decision because they would import goods from outside Iraq through that currency instead of running behind the currency of the US dollar or the euro European volatile in terms of demand and supply and the purchase price as well.
To Aikhvi citizen "Abu Zahraa al-Moussawi," 34-year-old fear of this sudden decision to us and says that his fear Mtota of greed merchants, exploitation and opportunists of them, because large denominations were a big problem in one day, especially in the post-dictatorial regime fall of 2003 as traders to Aigmon take unzip large currency, which was at the time 10 000 dinars and 25 thousand, but buy eggs layer or a dozen full of cigarettes or any other commodity is determined by the dealer himself, citizens are forced to acquiesce to buy some of the issues they do not need them perhaps some people to Aadechn or unwilling to buy eggs table of the market and other goods.
He adds that the ordinary citizen fears of a repeat of the same scenario, especially since there is chaos in Iraq and the absence of economic sergeant in the market now is Maahdja traders on foot to carry out acts of earning profits is due and multiply.
It recalls that monetary categories in the country has gone through many stages and each time increased in number Ocefarha and pulls small currencies "loose change" and rising prices and growing, while large currency chasing small currencies remain as it says modern economic base, and increasing numbers of financial Warraq entering the market and the corresponding gold . / End /
http://ift.tt/1F9kTLb
**********
JJONESMX: The government resorted to «restrict» import movement to support local product and prevent «money laundering»
Sources told the world: rising dollar exchange rate «constant» even delete the zeros and the issuance of «large cash categories»
Baghdad Amer Aljdua
informed sources in the Iraqi Central Bank revealed that the government wants to control the "money laundering" through the "restriction" import movement and prevent the importation of certain goods which are made locally, high salinity that the dollar exchange rate "is intended to force the merchants to promote local industry ", as pointed out that this rise" will remain until the completion of the project to delete the zeros of the local currency and the issuance of large cash categories to make the dinar strong or other currencies ", but the Finance Committee in the House of Representatives warned that the deletion process" requires big money can not be for Iraq provided in the current time. "
high-level sources confirmed "the world" that the government "intends to control money laundering and the smuggling of currency operations, as well as forcing some traders on the domestic industry, and restrict imports from abroad", believing that the high exchange rate "force them to deal with the domestic industry . "
and revealed that the government and in agreement with the bank "wants to maintain the dollar exchange rate in the amount of 130 000 dinars per $ 100, and the possibility of exchange rate appreciation in the coming days until the end of this year."
The sources, who asked withholding her identity, because they are not given permission, to "The central bank,
and before the issuance of the big currencies, wants to work a project to delete the zeros," indicating that "in the event of the project was the application of the dinar exchange rate against the dollar will be a close,
and therefore do not need the citizen in hard currency."
It showed that the bank "will focus effort in time current on obtaining full approvals on the project with the possibility of making large cash categories, in conjunction with the deletion process, what makes the Iraqi dinar strong against other currencies. "
He was a member of the parliamentary finance committee Ahmed Hama Rasheed said that "the proposal to delete the zeros existing four years ago, and there are proposals Several of its application, "noting that" the time is not right at the present time for the application of the procedure, because the Iraqi economy, exhausted and suffering in a lot of joints, especially after the significantly lower oil prices recently. "
He said Rashid said "the process of deleting the zeros need to be an economic power large, "pointing out that" currency replacing the process after deletion of zeros require large funds, Iraq is unable at this time to do these procedures. "
He continued, "In the event possessed the Iraqi economy enough force, can talk about the deletion of zeros from the Iraqi currency, and the decision in consultation with the The central bank ", calling for" benefit from the Turkish experience in changing its currency, the positive and reflections that have been achieved through that procedure, "stressing that" the Finance Committee discussed all proposals submitted to it, and the deletion of zeros and one of those things, not be issued a formal decision from the Commission on Thread. "
The sources confirmed that the coming days, "the lack of dependence on the dollar will appear," pointing out that "Iraq's foreign dealings in various fields will not be affected if the dollar exchange rate rose, the fact that the country receives money from the dollar sale of oil."
For his part, sees Maitham defect, an observer of economic affairs and academic, "The government left itself between the hammer determine the dollar amount sold and the anvil to reduce the dinar exchange rate," adding that "both over, and the reason is the depreciation of the local currency as it became clear."
Paragraph 50 of the general federal budget law for 2015 on "the central bank is committed to identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars a day with exercise justice in the sales process, and calls for participating in the auction Bank to provide goods enter documents and statements of tax settling accounts and savings Alkmarki within 30 days of Date of purchase for the amount and otherwise apply to the bank penalties stipulated in the central bank law or instructions issued from it, and use other banking instruments to maintain the strength of the dinar against the dollar. "
He added coffee in a telephone interview with "the world" that "these two matters large scars are high commodity prices and goods, especially that most of them imported and purchased foreign currency. "
He continued that "determine the sales volumes of the dollar leads to the separation of the relationship between supply and demand for that currency", leading to sales at a particular price, and with a last price parallel. "
He adds defect "while in The reduction in the dinar exchange rate will not lead to that separation. "
And that "lowering the exchange rate will benefit the budget."
shops Banking owners said that "the dollar exchange rate is on the rise despite the central bank confirmation pumping additional quantities to the market in order to reduce the exchange rate."
In the opinion of His banking , declined to be named, said in an interview with "the world" yesterday that the bank "does every time the announcement of the supplement market additional amount of the dollar", claiming that the implementation of the resolution are "after 10 days or 15 days and do not know why is it," .
decided the Central Bank, last Tuesday, increasing the share of dollar sales for banking companies and foreign transfers and reducing the length of time for the implementation of foreign remittances.
The directors of a bank in a press release, "The meeting resulted in the development of procedures to ensure to address the situation of some private banks and cash-strapped including ensure processing their positions. "
The statement continued that "the Bank has agreed to launch an amount trillion dinars for private banks to finance small and medium enterprises for citizens loans and approve their own controls."
He said the bank according to the statement to "approve instructions regulating the work of guaranteed bank loans companies," noting that " Economic expert Majid picture started work a member of the Council of the Central Bank. LINK
Millionday: I WOULD ASSUME THEY EXPECT TO HAVE ALL PERTAINING LAWS IN PLACE FOR THIS ALL TO BE ACCOMPLISHED.
Q: [launch as in activate?]
Millionday: YES. I AM EXCITED TO SEE WHAT HAPPENS.
**************************************
KTFA:
JJONESMX: » May 24th, 2015, 9:11 am
CBI News & Announcements
( statement concerning banking and foreign transfers, banks own companies ) Board of the Central Bank of Iraq administration met on Tuesday, 2015 / 5 / 19 Minutes numbered ( 1525 ) and decided the following:
http://ift.tt/1ei96fB
************
JJONESMX: » May 24th, 2015, 9:40 am
Zain Iraq: Rings company en route to listing on the stock market in 2015
93 Show May 24, 2015 13:45 Rings
(Independent) ... Telecom ring company announced an owner of the joint-stock company to company Atheer Telecom Almtnqlh- (Zain Iraq) on 18 May, it was on its way to completion of the necessary regulatory measures to ensure the inclusion within the legal period specified in the approval of the listing of the Securities Commission.
According to a statement of Zain and Talga (Independent) said Sunday that "the Board of Directors of Zain Group formally agreed to put up for sale ratio of 25% of the shares of the ring owned by Zain Group to implement the terms of the IPO ring company in the Iraq Stock Exchange and in line with the conditions that have been disclosed in operating license granted to the company in Iraq by the media and communications. "
"And when you ask of its shares for trading, the presence of the ring company in the Iraqi Stock Exchange, a company valued at several billions of US dollars will contribute significantly to the total amount of the financial market", and Booze "will exceed the total amount of the financial market ten billion dollars for the first time in the history of Iraq and the Catalyst to attract foreign investments and foreign to the Iraq Stock Exchange, where the company will join the ring 95 other Iraqi company traded in the market. "
Commenting on the progress that has been made towards the company's inclusion in the Iraqi stock market, said Chairman of the ring Muhammad Jerjfja Inc.
"We are pleased to see that the process of our inclusion in Iraq is nearing completion with the Zain Iraq to work actively offering its shares to the Iraqis and all investors. In doing so, we offer investors the opportunity to participate in one of the most successful companies and stand with us as we move toward the next phase of development and growth. "
For his part, Badr Al-Kharafi, Managing Director of the company seal and Vice President of the Board of Directors of Zain Group according to the statement, "with the launch of third-generation 3.9G services in Iraq at the beginning of this year, and with continued investments in infrastructure, we believe that the possibility of significant growth still exist in the telecommunications market Iraq, despite the challenges posed by the security situation in the country "
Each of Jerjfja and Kharafi thanked the Iraqi authorities responsible and regulators have expressed and said,
"We are pleased to thank all those responsible in the media and communications and Securities Commission and the Iraqi market for securities on their professionalism and are pleased to take this opportunity to reiterate the commitment of the Zain Group to continue to work successfully in Iraq."
This has Zain Group announced the establishment as a private shareholding subsidiary of Telecom Athiramahdodh ring company in July 2013 in preparation for the process of listing on the Iraq Stock Exchange.
Upon completion of the ring company included in the Iraq Stock Exchange parent company Zain may be completed license granted to the company's obligations. (End)
http://ift.tt/1FIIgyQ
**
Citizens are afraid to enter large cash categories and experts they consider a new achievement
05/19/2015 Dinars / Abbas Al passengers Iraqi government's progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that Ataud benefit him.
Dinars / Abbas Al passengers /..rpma Iraqi government's progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that Ataud benefit him.
Iraqi street was trading days since the news that the Ministry of Finance, represented by the Central Bank will issue a new currency from the category of "50" thousand dinars and then followed after issuing another currency of a larger category of a "100" thousand Iraqi dinars.
The moves in light of the suffering severe the country as a result of fiscal austerity that has ravaged the country about more than a year and a large deficit in the state budget since, through a multitude of objects of expenditure and the adoption of the government to only rentier economy, oil and some industries light of, in addition to the face of the country to organize Daash terrorist war against it, and having to reduce staff in the public sector wages as well as stop the financing of some projects as a result of fiscal austerity.
Dr. appearance of Mohammed Saleh adviser to Prime Minister for Economic Affairs told "economic dinars" on the subject, saying: I am with this trend in the introduction of large cash categories because it will raise the efficiency of large payments large cash and categories system facilitates the trading of large parliamentary blocs so they shortened the monetary amounts by half or more and solve the problem of the transfer of those quantities, Iraq is still handles cash Order Cache and not the card that requires time and effort and the culture of the visa regime.
He adds that the benefit of this project was due to work done for years, which does not contradict with the project to delete the zeros because reform, there is no need to fear the introduction of these large groups to the market because the financial institutions in the country studied the subject from all sides and is a guarantor of safety.
Some citizens believe that the "large cash categories" to enter the market now is tantamount to adding new burdens on the ordinary citizen as simple salary categories will be hard to break or turn them into smaller groups in order to dispose of them.
They accuse the state to take decisions to Atsb in their interest never, through this confusion decisions is well thought out economic feasibility and benefits desired, but are skeptical about a lot of them that there are mafias significant financial and whales want to take advantage of the introduction of these large groups that might cripple the market movement and the elimination of small groups of categories of "250" dinars and the "500" and "1000" dinars final and the first affected by it is to cancel the taxi buses that operate within the alleys and removed from the "500" to "1000" and the abolition of the pricing "ticket" hospitals, the government's "500" BD also due to lack of loose change final of daily trading, and will be traders are the first beneficiaries of this decision because they would import goods from outside Iraq through that currency instead of running behind the currency of the US dollar or the euro European volatile in terms of demand and supply and the purchase price as well.
To Aikhvi citizen "Abu Zahraa al-Moussawi," 34-year-old fear of this sudden decision to us and says that his fear Mtota of greed merchants, exploitation and opportunists of them, because large denominations were a big problem in one day, especially in the post-dictatorial regime fall of 2003 as traders to Aigmon take unzip large currency, which was at the time 10 000 dinars and 25 thousand, but buy eggs layer or a dozen full of cigarettes or any other commodity is determined by the dealer himself, citizens are forced to acquiesce to buy some of the issues they do not need them perhaps some people to Aadechn or unwilling to buy eggs table of the market and other goods.
He adds that the ordinary citizen fears of a repeat of the same scenario, especially since there is chaos in Iraq and the absence of economic sergeant in the market now is Maahdja traders on foot to carry out acts of earning profits is due and multiply.
It recalls that monetary categories in the country has gone through many stages and each time increased in number Ocefarha and pulls small currencies "loose change" and rising prices and growing, while large currency chasing small currencies remain as it says modern economic base, and increasing numbers of financial Warraq entering the market and the corresponding gold . / End /
http://ift.tt/1F9kTLb
**********
JJONESMX: The government resorted to «restrict» import movement to support local product and prevent «money laundering»
Sources told the world: rising dollar exchange rate «constant» even delete the zeros and the issuance of «large cash categories»
Baghdad Amer Aljdua
informed sources in the Iraqi Central Bank revealed that the government wants to control the "money laundering" through the "restriction" import movement and prevent the importation of certain goods which are made locally, high salinity that the dollar exchange rate "is intended to force the merchants to promote local industry ", as pointed out that this rise" will remain until the completion of the project to delete the zeros of the local currency and the issuance of large cash categories to make the dinar strong or other currencies ", but the Finance Committee in the House of Representatives warned that the deletion process" requires big money can not be for Iraq provided in the current time. "
high-level sources confirmed "the world" that the government "intends to control money laundering and the smuggling of currency operations, as well as forcing some traders on the domestic industry, and restrict imports from abroad", believing that the high exchange rate "force them to deal with the domestic industry . "
and revealed that the government and in agreement with the bank "wants to maintain the dollar exchange rate in the amount of 130 000 dinars per $ 100, and the possibility of exchange rate appreciation in the coming days until the end of this year."
The sources, who asked withholding her identity, because they are not given permission, to "The central bank,
and before the issuance of the big currencies, wants to work a project to delete the zeros," indicating that "in the event of the project was the application of the dinar exchange rate against the dollar will be a close,
and therefore do not need the citizen in hard currency."
It showed that the bank "will focus effort in time current on obtaining full approvals on the project with the possibility of making large cash categories, in conjunction with the deletion process, what makes the Iraqi dinar strong against other currencies. "
He was a member of the parliamentary finance committee Ahmed Hama Rasheed said that "the proposal to delete the zeros existing four years ago, and there are proposals Several of its application, "noting that" the time is not right at the present time for the application of the procedure, because the Iraqi economy, exhausted and suffering in a lot of joints, especially after the significantly lower oil prices recently. "
He said Rashid said "the process of deleting the zeros need to be an economic power large, "pointing out that" currency replacing the process after deletion of zeros require large funds, Iraq is unable at this time to do these procedures. "
He continued, "In the event possessed the Iraqi economy enough force, can talk about the deletion of zeros from the Iraqi currency, and the decision in consultation with the The central bank ", calling for" benefit from the Turkish experience in changing its currency, the positive and reflections that have been achieved through that procedure, "stressing that" the Finance Committee discussed all proposals submitted to it, and the deletion of zeros and one of those things, not be issued a formal decision from the Commission on Thread. "
The sources confirmed that the coming days, "the lack of dependence on the dollar will appear," pointing out that "Iraq's foreign dealings in various fields will not be affected if the dollar exchange rate rose, the fact that the country receives money from the dollar sale of oil."
For his part, sees Maitham defect, an observer of economic affairs and academic, "The government left itself between the hammer determine the dollar amount sold and the anvil to reduce the dinar exchange rate," adding that "both over, and the reason is the depreciation of the local currency as it became clear."
Paragraph 50 of the general federal budget law for 2015 on "the central bank is committed to identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars a day with exercise justice in the sales process, and calls for participating in the auction Bank to provide goods enter documents and statements of tax settling accounts and savings Alkmarki within 30 days of Date of purchase for the amount and otherwise apply to the bank penalties stipulated in the central bank law or instructions issued from it, and use other banking instruments to maintain the strength of the dinar against the dollar. "
He added coffee in a telephone interview with "the world" that "these two matters large scars are high commodity prices and goods, especially that most of them imported and purchased foreign currency. "
He continued that "determine the sales volumes of the dollar leads to the separation of the relationship between supply and demand for that currency", leading to sales at a particular price, and with a last price parallel. "
He adds defect "while in The reduction in the dinar exchange rate will not lead to that separation. "
And that "lowering the exchange rate will benefit the budget."
shops Banking owners said that "the dollar exchange rate is on the rise despite the central bank confirmation pumping additional quantities to the market in order to reduce the exchange rate."
In the opinion of His banking , declined to be named, said in an interview with "the world" yesterday that the bank "does every time the announcement of the supplement market additional amount of the dollar", claiming that the implementation of the resolution are "after 10 days or 15 days and do not know why is it," .
decided the Central Bank, last Tuesday, increasing the share of dollar sales for banking companies and foreign transfers and reducing the length of time for the implementation of foreign remittances.
The directors of a bank in a press release, "The meeting resulted in the development of procedures to ensure to address the situation of some private banks and cash-strapped including ensure processing their positions. "
The statement continued that "the Bank has agreed to launch an amount trillion dinars for private banks to finance small and medium enterprises for citizens loans and approve their own controls."
He said the bank according to the statement to "approve instructions regulating the work of guaranteed bank loans companies," noting that " Economic expert Majid picture started work a member of the Council of the Central Bank. LINK
Stage3Alpha:
Freedom: Washington Blows Itself Up With Its Own Bomb
24.05.2015 Author: F. William Engdahl
Column: Politics Region: USA in the World
These are sad days in Washington and Wall Street. The once unchallenged sole Superpower at the collapse of the Soviet Union some quarter century ago is losing its global influence so rapidly that most would not have predicted anything comparable six months ago.
The key actor who has catalyzed a global defiance of Washington as Sole Superpower is Vladimir Putin, Russia’s President. This is the real background to the surprise visit of US Secretary of State John Kerry to Sochi to meet with Russian Foreign Minister Sergei Lavrov and then a four hour talk with “Satan” himself, Putin.
Far from a “reset” try, Washington’s hapless geopolitical strategists are desperately trying to find a better way to bring the Russian Bear to her knees.
A flash back to December 2014 is instructive to understand why the US Secretary of State holds out an apparent olive branch to Russia’s Putin at this juncture. At that point, Washington appeared about to pin Russia to the ground, with its precision targeted financial sanctions and its deal with Saudi Arabia to collapse oil prices.
In mid-December the Ruble was in free fall against the dollar. Oil prices were similarly plummeting down to $45 a barrel from $107 only six months earlier. As Russia is strongly dependent on oil and gas export revenues for its state finances, and Russian companies held huge dollar debt obligations abroad, the situation was bleak as seen from inside the Kremlin.
Here fate, as it were, intervened in an unexpected way (at least by the USA architects of the financial warfare and oil collapse strategy).
Not only was John Kerry’s September 2014 deal with ailing Saudi King Abdullah delivering heavy pain in the Russian finances. It was also threatening an explosion of an estimated $500 billion in high-risk-high-yield “junk” bonds, debt that the US shale oil industry had taken on from Wall Street banks in the past five years to finance the much-touted US shale oil revolution that briefly propelled the USA ahead of Saudi Arabia as the world’s largest oil producer.
US strategy backfires
What Kerry missed in his clever Saudi horse trading was the sly double agenda of the Saudi royals. They had earlier made clear they did not at all want their role as world premier oil producer and market king to be undercut by an upstart US shale oil industry. They were happy to give Russia and also Iran pain. But their central aim was to kill the US shale oil rivals.
Their shale projects were calculated when oil was $100 a barrel, less than a year ago. Their minimum price of oil to avoid bankruptcy in most cases was $65 a barrel to $80 a barrel. Shale oil extraction is unconventional and more costly than conventional oil. Douglas-Westwood, an energy advisory firm, estimates that nearly half of the US oil projects under development need oil prices greater than $120 per barrel in order to achieve positive cash flow.
By end of December a chain-reaction series of shale oil bankruptcies threatened to detonate a new financial tsunami at a time the carnage from the 2007-2008 securitization financial crisis was anything but resolved. Even a few high-profile shale oil junk bond defaults would have triggered a domino-style panic in the US $1.9 trillion junk bond debt market, no doubt setting off a new financial meltdown that the over-stressed US Government and Federal Reserve could scarcely handle. It could have threatened the end of the US dollar as global reserve currency.
Suddenly in the first days of January, IMF head Lagarde was praising Russia’s central bank for its “successful” handling of the ruble crisis. The US Treasury Office of Financial Terrorism quietly eased off on further attacks on Russia while the Obama Administration pretended it was “World War III as usual” against Putin. The US oil strategy had inflicted far more damage on the US than on Russia.
USA Russia policy failure
Not only that. Washington’s brilliant total war strategy against Russia initiated with the November 2013 Kiev EuroMaidan coup d’etat has become a manifest, utter failure that is creating the worst imaginable geopolitical nightmare for Washington.
Far from reacting as a helpless victim and cowering in fear before the US efforts to isolate Russia, Putin initiated a brilliant series of foreign economic, military and political initiatives that by April added up to the seed crystal of a new global monetary order and a new Eurasian economic colossus to rival US sole superpower hegemony.
He challenged the very foundations of the US-dominated dollar system and her global world order everywhere from India to Brazil to Cuba to Greece to Turkey. Russia and China signed mammoth new energy deals that allowed Russia to redirect its energy strategy from the west where the EU and Ukraine, both under strong Washington pressure, had sabotaged Russian EU gas deliveries via Ukraine.
The EU, again under intense Washington pressure threw one monkey wrench after another into Gazprom’s South Stream natural gas pipeline project to southern Europe.
Rather than be defensive, Putin shocked the EU during his visit to Turkey and meeting with President Erdogan when he announced on December 1 that he had cancelled Gazprom’s South Stream project. He announced he would seek an agreement with Turkey to deliver Russian gas to the Greek border. From there, if the EU wants the gas they have to finance their own pipelines. The EU bluff was called. Their future gas needs were more remote than ever.
The EU sanctions on Russia also backfired as Russia retaliated with a ban on EU food imports and a turn to Russian self-sufficiency. And billions of dollars of contracts or exports from German firms like Siemens or France’s Total were suddenly in limbo. Boeing saw large aircraft orders to Russian carriers cancelled. Russia announced it was turning to national suppliers in production of critical defense components.
Then Russia became an “Asian” charter member of China’s remarkably successful new Asian Infrastructure Investment Bank (AIIB) designed to finance its ambitious New Silk Road Economic Belt high-speed rail network across Eurasia into the EU. Rather than isolate Russia, US policy backfired badly as, despite strong pressures, US staunch allies including Britain, Germany, France and South Korea all rushed to join the new AIIB.
Further, at their May meeting in Moscow, China’s President Xi Jinping and Vladimir Putin announced that the China silk road rail infrastructure would be fully integrated with Russia’s Eurasian Economic Union, a staggering boost not only to Russia bit to Eurasia into China, a region containing the majority of the world’s population.
In short, by the point John Kerry was told to swallow hard and fly to Sochi, hat in hand, to offer some kind of peace pipe to Putin, US leading circles, the American Oligarchs had realized their aggressive neo-conservative warhawks like Victoria “F**k the EU” Nuland of the State Department and Defense Secretary Ash Carter were propelling the creation of a new alternative world structure that could spell the ruin of the entire post-Bretton Woods Washington-dominated Dollar System. Oops.
In addition, by forcing her European “allies” to toe the US anti-Putin line, to the severe detriment of EU economic and political interests, alone her vigorous participation in the New Silk Road Economic Belt project and the economic boom in investment that will bring with it, Washington’s neo-conservatives have managed also to accelerate a probable parting of the ways between Germany, France and other Continental European powers to Washington.
Finally, as the whole world (including even Western anti-Atlantists) came to view Putin as the symbol of resistance to the American dominance. This perception first emerged at the time of the Snowden story but has solidified after the sanctions and blockade. Such perception, by the way, plays a significant psychological role in the geopolitical struggle – the presence of such a symbol opens up novel venues in the fight against the hegemony.
For all these reasons, Kerry was clearly sent to Sochi to sniff out possible soft points for a renewed assault in the future. He told the rogue US-backed lunatics in Kiev to cool it and respect the Minsk cease-fire accords. The demand came as a shock in Kiev. US-installed Prime Minister Arseniy Yatsenyuk told French TV, “Sochi is definitely not the best resort and not the best place to have a chat with Russian president and Russian foreign minister.”
At this juncture the only thing clear is that Washington has finally realized the stupidity of its provocations against Russia in Ukraine and globally. What their next scheme will entail is not yet clear. Clear is that a dramatic policy shift has been ordered on the Obama administration from the highest levels of US institutions. Nothing else could explain the dramatic shift.
If sanity replaces the neo-con insanity remains to be seen
Clear is that Russia and China are resolute about never again leaving themselves at the mercy of an incalculable sole superpower. Kerry’s pathetic attempt at a second Russia “reset” in Sochi will bring Washington little at this point. The US Oligarchy, as Shakespeare’s Hamlet put it, is being “hoist with their own petard,” as the bomb maker blows himself up with his own bomb.
http://ift.tt/1KdJEJB
Freedom: Washington Blows Itself Up With Its Own Bomb
24.05.2015 Author: F. William Engdahl
Column: Politics Region: USA in the World
These are sad days in Washington and Wall Street. The once unchallenged sole Superpower at the collapse of the Soviet Union some quarter century ago is losing its global influence so rapidly that most would not have predicted anything comparable six months ago.
The key actor who has catalyzed a global defiance of Washington as Sole Superpower is Vladimir Putin, Russia’s President. This is the real background to the surprise visit of US Secretary of State John Kerry to Sochi to meet with Russian Foreign Minister Sergei Lavrov and then a four hour talk with “Satan” himself, Putin.
Far from a “reset” try, Washington’s hapless geopolitical strategists are desperately trying to find a better way to bring the Russian Bear to her knees.
A flash back to December 2014 is instructive to understand why the US Secretary of State holds out an apparent olive branch to Russia’s Putin at this juncture. At that point, Washington appeared about to pin Russia to the ground, with its precision targeted financial sanctions and its deal with Saudi Arabia to collapse oil prices.
In mid-December the Ruble was in free fall against the dollar. Oil prices were similarly plummeting down to $45 a barrel from $107 only six months earlier. As Russia is strongly dependent on oil and gas export revenues for its state finances, and Russian companies held huge dollar debt obligations abroad, the situation was bleak as seen from inside the Kremlin.
Here fate, as it were, intervened in an unexpected way (at least by the USA architects of the financial warfare and oil collapse strategy).
Not only was John Kerry’s September 2014 deal with ailing Saudi King Abdullah delivering heavy pain in the Russian finances. It was also threatening an explosion of an estimated $500 billion in high-risk-high-yield “junk” bonds, debt that the US shale oil industry had taken on from Wall Street banks in the past five years to finance the much-touted US shale oil revolution that briefly propelled the USA ahead of Saudi Arabia as the world’s largest oil producer.
US strategy backfires
What Kerry missed in his clever Saudi horse trading was the sly double agenda of the Saudi royals. They had earlier made clear they did not at all want their role as world premier oil producer and market king to be undercut by an upstart US shale oil industry. They were happy to give Russia and also Iran pain. But their central aim was to kill the US shale oil rivals.
Their shale projects were calculated when oil was $100 a barrel, less than a year ago. Their minimum price of oil to avoid bankruptcy in most cases was $65 a barrel to $80 a barrel. Shale oil extraction is unconventional and more costly than conventional oil. Douglas-Westwood, an energy advisory firm, estimates that nearly half of the US oil projects under development need oil prices greater than $120 per barrel in order to achieve positive cash flow.
By end of December a chain-reaction series of shale oil bankruptcies threatened to detonate a new financial tsunami at a time the carnage from the 2007-2008 securitization financial crisis was anything but resolved. Even a few high-profile shale oil junk bond defaults would have triggered a domino-style panic in the US $1.9 trillion junk bond debt market, no doubt setting off a new financial meltdown that the over-stressed US Government and Federal Reserve could scarcely handle. It could have threatened the end of the US dollar as global reserve currency.
Suddenly in the first days of January, IMF head Lagarde was praising Russia’s central bank for its “successful” handling of the ruble crisis. The US Treasury Office of Financial Terrorism quietly eased off on further attacks on Russia while the Obama Administration pretended it was “World War III as usual” against Putin. The US oil strategy had inflicted far more damage on the US than on Russia.
USA Russia policy failure
Not only that. Washington’s brilliant total war strategy against Russia initiated with the November 2013 Kiev EuroMaidan coup d’etat has become a manifest, utter failure that is creating the worst imaginable geopolitical nightmare for Washington.
Far from reacting as a helpless victim and cowering in fear before the US efforts to isolate Russia, Putin initiated a brilliant series of foreign economic, military and political initiatives that by April added up to the seed crystal of a new global monetary order and a new Eurasian economic colossus to rival US sole superpower hegemony.
He challenged the very foundations of the US-dominated dollar system and her global world order everywhere from India to Brazil to Cuba to Greece to Turkey. Russia and China signed mammoth new energy deals that allowed Russia to redirect its energy strategy from the west where the EU and Ukraine, both under strong Washington pressure, had sabotaged Russian EU gas deliveries via Ukraine.
The EU, again under intense Washington pressure threw one monkey wrench after another into Gazprom’s South Stream natural gas pipeline project to southern Europe.
Rather than be defensive, Putin shocked the EU during his visit to Turkey and meeting with President Erdogan when he announced on December 1 that he had cancelled Gazprom’s South Stream project. He announced he would seek an agreement with Turkey to deliver Russian gas to the Greek border. From there, if the EU wants the gas they have to finance their own pipelines. The EU bluff was called. Their future gas needs were more remote than ever.
The EU sanctions on Russia also backfired as Russia retaliated with a ban on EU food imports and a turn to Russian self-sufficiency. And billions of dollars of contracts or exports from German firms like Siemens or France’s Total were suddenly in limbo. Boeing saw large aircraft orders to Russian carriers cancelled. Russia announced it was turning to national suppliers in production of critical defense components.
Then Russia became an “Asian” charter member of China’s remarkably successful new Asian Infrastructure Investment Bank (AIIB) designed to finance its ambitious New Silk Road Economic Belt high-speed rail network across Eurasia into the EU. Rather than isolate Russia, US policy backfired badly as, despite strong pressures, US staunch allies including Britain, Germany, France and South Korea all rushed to join the new AIIB.
Further, at their May meeting in Moscow, China’s President Xi Jinping and Vladimir Putin announced that the China silk road rail infrastructure would be fully integrated with Russia’s Eurasian Economic Union, a staggering boost not only to Russia bit to Eurasia into China, a region containing the majority of the world’s population.
In short, by the point John Kerry was told to swallow hard and fly to Sochi, hat in hand, to offer some kind of peace pipe to Putin, US leading circles, the American Oligarchs had realized their aggressive neo-conservative warhawks like Victoria “F**k the EU” Nuland of the State Department and Defense Secretary Ash Carter were propelling the creation of a new alternative world structure that could spell the ruin of the entire post-Bretton Woods Washington-dominated Dollar System. Oops.
In addition, by forcing her European “allies” to toe the US anti-Putin line, to the severe detriment of EU economic and political interests, alone her vigorous participation in the New Silk Road Economic Belt project and the economic boom in investment that will bring with it, Washington’s neo-conservatives have managed also to accelerate a probable parting of the ways between Germany, France and other Continental European powers to Washington.
Finally, as the whole world (including even Western anti-Atlantists) came to view Putin as the symbol of resistance to the American dominance. This perception first emerged at the time of the Snowden story but has solidified after the sanctions and blockade. Such perception, by the way, plays a significant psychological role in the geopolitical struggle – the presence of such a symbol opens up novel venues in the fight against the hegemony.
For all these reasons, Kerry was clearly sent to Sochi to sniff out possible soft points for a renewed assault in the future. He told the rogue US-backed lunatics in Kiev to cool it and respect the Minsk cease-fire accords. The demand came as a shock in Kiev. US-installed Prime Minister Arseniy Yatsenyuk told French TV, “Sochi is definitely not the best resort and not the best place to have a chat with Russian president and Russian foreign minister.”
At this juncture the only thing clear is that Washington has finally realized the stupidity of its provocations against Russia in Ukraine and globally. What their next scheme will entail is not yet clear. Clear is that a dramatic policy shift has been ordered on the Obama administration from the highest levels of US institutions. Nothing else could explain the dramatic shift.
If sanity replaces the neo-con insanity remains to be seen
Clear is that Russia and China are resolute about never again leaving themselves at the mercy of an incalculable sole superpower. Kerry’s pathetic attempt at a second Russia “reset” in Sochi will bring Washington little at this point. The US Oligarchy, as Shakespeare’s Hamlet put it, is being “hoist with their own petard,” as the bomb maker blows himself up with his own bomb.
http://ift.tt/1KdJEJB
via Dinar Recaps - Our Blog http://ift.tt/1F9kTLd
No comments:
Post a Comment