Don't WAIT!

Wednesday, July 8, 2015

OOTW & Member News Chat 7-8-15

11:56:24 AM] Doug_W: _: BREAKING NEWS - nyse SUSPENDS ALL TRADING

Doug_W: cuz of greece

Sam: saw this on facebook SHANGHAI STOCK MARKET CRASHES

Donnie: NYSE trading halted; stocks down 1% as China, Greece weigh

Donnie: Trading on the New York Stock Exchange was suspended in late-morning trade on Wednesday with U.S. stocks down about 1 percent on Wednesday as continued concerns about Greece and the extended selloff in the Chinese market pressured investor sentiment. 

Related Stories Stocks end higher after choppy trade; Greece, earnings eyed CNBC Markets eye Greece now, then Yellen next week CNBC Stocks close lower amid options expirations; Greece concerns weigh CNBC Dow plunges triple digits into red for year, Nasdaq slips 2.4% on Greece CNBC Nasdaq closes at record, Dow up 100 points on Greece hopes CNBC "We've had some technical malfunctions. 
~~~
Some may be related to connectivity with other exchanges. I believe we're going to have a temporary pause certainly in a variety of stocks perhaps floor wide," Art Cashin, director of floor operations at the NYSE, told CNBC, adding that the halt will not cause a move in a particular direction.

The Dow Jones industrial average traded about 175 points lower when trading was halted after dipping more than 200 points as the major averages declined, with the Nasdaq Composite briefly off more than 1 percent as biotechs and Apple (AAPL) plunged more than 1 percent.

The iPhone maker was also the worst performing stock in the Dow. The S&P 500 struggled to hold gains for the year.

The index dipped into negative territory Tuesday but recovered in afternoon trade to hold slightly higher for 2015. "I think we're just realigning the U.S. market with the declines elsewhere," said Peter Boockvar, chief market analyst at The Lindsey Group.

Sam: heard on news... computer glitch on wall street

TxBrand: NY stock exchange halted trading

TxBrand: Tech Issue

Sam: cyber threat by ISIS

MichelleL: how far down Tx?

MichelleL: I'm turning on business news, thanks

TxBrand: ‹@MichelleL› 2?? something

MichelleL: back to down 170something lol - wondering if its a ddos attack according to cnbc

MichelleL: i'm glad i cashed in something yesterday

MichelleL: down 206 what fun :(

Sam: lots of "tech issues" going on

MichelleL: i have to turn it off, or I'm going to call my husband and tell him he can't retire lol - i'm hovering there anyway

Sam: down 204

MichelleL: so much for paying off our mortgage lol - this hasn't been a good financial summer, feels like summer is over already and july 4 was just this past weekend ;)

OOTW: HI EVERYONE

OOTW: WE HAVE AN ANNOUNCEMENT FROM THE PARLIAMENT SITE- STATING THAT THE SJC WRONGFULLY CANCELLED THE BUDGET ITEMS - THE PARLIAMENT SUGGESTS THAT THEY DID TURN THE CANCELLED AMENDMENTS, OVER TO THE COM FOR APPROVAL, PRIOR TO POSTING IN THE 2015 BUDGET

OOTW: wealthwatch.world/showthr...

http://ift.tt/1MfiByy

OOTW: THIS IS STRAIGHT FROM THE PARLIAMENT SITE: Statement July 8, 2015 In the name of God the Merciful statement issued by the Finance Committee in the Iraqi Council of Representatives on the Federal Court's decision on the law of the general budget (2) for the year 2015.

The Federal Supreme Court decided to rule on 07/06/2015 unconstitutional articles. Article (4) concerning authorized to transfer between chapters of the budget.

Article 13 First: © relating to the contractors install the permanent staffing. e - included re-laid-off against the backdrop of security incidents.

 f install contractors with the Independent Electoral Commission.

(g) the introduction of grades and the addition of allocations at the adoption of the National Guard and the law People crowd the nucleus of the composition.

Article (33) the imposition of taxes on cigarettes and alcoholic beverages.

Article (41) calculating allocations to the board of the popular crowd to ensure the involvement of (0.5%) of the population of every Iraqi province.

 Article 46 banks exception Islamic Help Central Bank own capitals banks.

Article (47) give priority national maritime carrier.

Article (50) on the articles of the Central Bank of Iraq, and capping the sale of hard currency B (75) million Dolarvi auction day with exercise justice in the sale of currency and claim the bank to provide documents within thirty (30) days from the date of purchase of the currency and the use of other banking tools to protect the dinar.

Article (55) Exchange amount to maintain the displaced and trapped within the provinces, (Nineveh, Salahaddin, Anbar).

OOTW: BREAK

OOTW: The Federal Court has caused its decision as follows: (The material above does not not originally exist in the bill referred to or those texts that have been changed significantly, as it was in the project, and this measure is contrary to the principle foundation adopted by the Constitution,

and that these changes and that was her imperative reasons, but he needs to be in accordance with the mechanism and the formulas set by the Constitution in Articles (60) paragraph (ii) and (62) paragraph (ii), was a requirement of the House of Representatives refer to the Council of Ministers to take the approval of the changes he intends to be made to the budget bill or remodeling project to him, to study the proposals) end quote.

Finance Committee would like to clarify the following: that the House of Representatives a vital role and articular in our Parliamentary referred to in Article (1) of the Constitution, and its role inherent in the legislation of laws based on the provisions of Article 61, paragraph (i) of the Constitution,

 and that these legislative power to give it the right to amend the proposed texts by the government in its projects to no more than the cost implementation of laws, and this is what was followed by the Council of the amendment and the addition of the general budget law.

It was on the court that notes that the council reduced the budget of approximately (six trillion dinars) after what he saw that this expenditure is necessary.

OOTW: BREAK

OOTW: The Council in March of Representatives constitutional powers provided for in Article 62, paragraph (ii) of the Constitution, and held the reduction mentioned and transfers between chapters of the budget, based on the article mentioned,

 which states (of the House of Representatives may conduct transfers between parts of the general budget), but when the Council applying this constitutional article and held a carry in Article (4) of the budget law

The decision to cancel that article, note that the government did not prove what is the fundamental change was the Constitution recognizes to must take the government a say in transfers was never text and the legal principle that the absolute being launched,

 in addition to what has been Mnaqlth of the amounts of the doors in the budget and approve the disbursement enters enters the door waste of public money,

 it has been transferred those amounts to the board of the popular crowd and to the displaced,  and denounce this material those funds will be returned to the pockets of corrupt,

Where is the justice of it and what is the public interest, this is a big question we ask in front of people.

pain generate in the minds of the issued decision to cancel the popular crowd allocations and displaced mean the withdrawal of support from fighting terrorism and also means that millions of displaced people You will not find shelter and food, and all this result in the interest of Daash.

OOTW: BREAK

OOTW: The Federal Court in its decision that they have seized a constitutional right of Parliament and launched by the government and established a new position we get it from the Parliament before the rejection option or acceptance of the law the next budget and what this from the repercussions of the situation political and social country.

was the Finance Committee and a clear role in the introduction of economic reforms on the budget bill something that everyone can afford noticed.

In order to disclaim responsibility before God and before the people, we issue this statement, which shows the position of the Finance Committee of the above decision. Peace, mercy and blessings of God. Finance Committee

OOTW: AGAIN HERE'S THE LINK IN THE FORUM

OOTW: wealthwatch.world/showthr...

http://ift.tt/1MfiByy

OOTW: I REALLY AM NOT SURE HOW THIS IS GOING TO PLAY OUT BUT CLEARLY THE FINANCE COMMITTEE IS STATING THAT THE SJC WRONGFULLY TOOK THESE ACTIONS

OOTW: THIS WOULD NOT BE COMING FROM ABADI - SO I HAVE TO WONDER IF THIS IS HAPPENING, SOLELY ROOTED FROM KEYWORDS CHARGES?

OOTW: WE GOT OURSELVES A KETTLE OF FISH HERE

OOTW: ;)

MichelleL: what does it mean for us, OOTW?

 Donnie: ‹@MichelleL› wait.... longer

Donnie: lol

MichelleL: what else is new Donnie?

Donnie: exactly

MichelleL: as long as its not a dead deal, cause if that happens, I'm going to use the d's for paper mache

Donnie: i wanted to be in and out in less than a year

MichelleL: try 9

MichelleL: i was going to be out in just a couple of months myself, Donnie ROFL

 OOTW: IT MEANS THAT THE PARLIAMENT IS STATING THE SJC WAS WRONG IN THEIR DECISION AND IMHO, THE PARLIAMENT HAS TO OFFICIALLY ADDRESS THIS TO

1) CONFIRM THAT IT TOOK THE CORRECT MEASURES, ACCDNG TO THE CONSTITUTION LEGISLATE THE BUDGET,

2) THE PARLIAMENT/FINANCE COMMITTEE ALSO HAS TO MAKE A PUBLIC ANNOUNCEMENT BECAUSE THE PEOPLE WILL SUFFER OVER ASPECTS OF THE SJC'S DECISION, AND THE PARLIAMENT WANTS THEM TO KNOW THAT THEY HAD NO HAND IN THIS, ("ABSOLVED?") AND

) ALSO - THIS WOULD PROBABLY BE NEEDED IN ORDER TO SET THE STAGE FOR FURTHER ACTIONS TO APPEAL THIS BY THE PARLIAMENT...

Donnie: i'm going to make one of those "lights" out of D. the ones that float up with a candle in them and send my D's back to Iraq :)

disciple7: ‹@OOTW› Thank you

MichelleL: Thanks, OOTW

OOTW: SURE HOW THIS EFFECTS A POTENTIAL EVENT FOR US - I CAN'T SAY, BUT CLEARLY RE ART 50 THE SJC WANTS THE CBI TO REMAIN INDEPENDENT

OOTW: BUT MOHSEN BETTER GET HIS ACT TOGETHER RE THE MONEY LAUNDERING - AND QUICK LIKE, THIS IS WHY (FOR THE MOST PART) WHY THE PARLIAMENT INSTITUTED THE 75M CAP IN THE FIRST PLACE

OOTW: AS WE CAN SEE THE AUCTION AMOUNTS ARE HIGH

MichelleL: no time limit on action if he doesn't? oh, I know, like time limit for M

MichelleL: they've been very high

OOTW: YES

OOTW: YOU KNOW THE MONEY LAUNDERING IS CONTINUING WITH THESE AUCTION AMOUNTS

OOTW: THEY WOULD HAVE EVEN IF KEPT TO THE 75 M CAP

OOTW: BUT NOW EVEN MORESO AND NOW SUPPORTED BY THE SJC

MichelleL: yes

Donnie: and who's in charge of the Auctions? (CBI wanna be Gov't)

OOTW: YES DONNIE THE CBI'S IN CHARGE- THEY IGNORED THE AUCTION CAP ANYWAY

OOTW: BUT REMEMBER

MichelleL: Its so very hard, policing absolutely all aspects of this place - have they got enough watchdogs?

OOTW: THE CONSTITUTION SAYS THAT THE GOI OVERSEES THE ADMINISTRATION OF THE CBI AND MONETARY POLICY

Donnie: i know - so how can it be unconstitutional

MichelleL: so accordingly, their "gov owns their fed"?

Donnie: ‹@MichelleL› overses

Donnie: sees

MichelleL: Donnie, be careful, its shark month ;)

OOTW: Section II: economic, social and cultural rights: Article (25): The State shall guarantee the reforming of the Iraqi economy according to modern economic fundamentals to ensure full currency of its resources, diversifying its sources, and encourage the private sector and development.

OOTW: Section IV The terms of reference of the federal authorities

OOTW: Article (110): Federal authorities have jurisdiction the exclusive competencies of: First: draw foreign policy, diplomatic representation, negotiating international treaties and conventions, and borrowing policies and signature hammered, and draw foreign economic and trade policy.

II: development and implementation of national security policy, including the establishment and management of the armed forces, to ensure the protection and security of Iraq's borders, and defend.

 III: financial policy, walkmrket, issuing currency, organizing trade policy across regions and provinces in Iraq, setting the General State budget, the monetary policy and the creation of the Central Bank, and management.
MichelleL: Thanks again, OOTW - incidentally, market is creeping back up

[01:05:20 PM] MichelleL: nah, not much

[01:14:53 PM] MichelleL: who kicked me? lol

[01:23:06 PM] chattels: ERBIL, Kurdistan Region — The Kurdistan Regional Government sells Kurdistan region and Kirkuk crude oil shares independently and will receive the money without going through Baghdad, said a Kurdish MP in the Iraqi Parliament on Wednesday.

[01:24:28 PM] chattels: Arez Abdullah, chairman of the Iraqi Parliament's Oil and Gas Committee, told Rudaw that the KRG started exporting oil directly to world markets in July. “This is the beginning of the Iraq disintegration,” Abdullah said.

[01:24:59 PM] chattels: KRG spokesperson Safin Dizayee told Rudaw that the decision was made to resolve the economic crisis that has stricken the Kurdistan region. He added that the decision was necessary to pay government employees’ salaries on time. “The Turkish government has reassured the KRG that they would stick to the agreements with the KRG over Kurdistan’s independent oil sales,” Dizayee said. In the last oil sales report, the Kurdistan Ministry of Natural Resources said due to the long-standing budget impasse with Baghdad it was obliged to increase its independent crude oil sales in June.

[01:25:13 PM] chattels: http://ift.tt/1dh0hsK...

http://ift.tt/1HOq8Ve

[01:27:11 PM] MichelleL: or is it another push to get the show on the road, chattels?

[01:28:51 PM] chattels: ‹@MichelleL› time will tell, but arguably the GOI is running out of time.

[01:31:30 PM] chattels: But, Baghdad could accept the Kurdish interpretation of the constitution and allow such sales without " forcing " the issues

[01:31:49 PM] chattels: and Baghdad may just have to do so

[01:33:18 PM] chattels: itis difficult to separate dysfunction from disaster, i.e., another calamity vs. a catastrophe

[01:33:47 PM] chattels: the former may be survivable, the latter not

[01:34:21 PM] chattels: wealthwatch.world/showthr...

http://ift.tt/1CpHR5s

chattels: the wet blanket will return :)

OOTW: BUTI IS ON THE PHONE WITH ME

OOTW: SHE WANTS ME TO TELL YOU ALL SOME INTERESTING POTENTIAL CONNECTIONS

OOTW: 1) NYSE IS DOWN                                                           

OOTW: 2) CHINA FROZE TRADING

OOTW: 3) WALL STREET JOURNAL SITE WENT DOWN FOR A FEW HOURS TODAY. BACK UP NOW

OOTW: 4) UNITED AIRLINES SUSPENDED ALL FLIGHTS YESTERDAY MORNING, THEY'RE BACK UP NOW CALLING IT A "TECHNICAL GLITCH"

OOTW: ARE THESE CONNECTED? WE DON'T KNOW BUT IT'S ODD

 OOTW: PLEASE SEE THIS THREAD FOR PARLIAMENT'S ADDRESS RE THE SJC'S BUDGET DECISIONS

http://ift.tt/1MfiByy


via Dinar Recaps - Our Blog http://ift.tt/1MfiByA

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