WSOMN:
RaginCajun: Wang Dang stated the small notes should have been released 8 days ago, he stated President O is going this week to iraq to kick ***…… we all know wang dang is in the belief of a lower rate of .90 to 1.17 then 7 to 10 days later a full rv
Stargazer: things can change very quickly for the better…. the 2007 budget was approved with the RV in it…. all eyes are looking at Bagdad right now, the special official from USA being there to make sure things are going smooth….
Some bonds were funded as well so it is moving in the right direction
....
RaginCajun: Wang Dang stated the small notes should have been released 8 days ago, he stated President O is going this week to iraq to kick ***…… we all know wang dang is in the belief of a lower rate of .90 to 1.17 then 7 to 10 days later a full rv
Stargazer: things can change very quickly for the better…. the 2007 budget was approved with the RV in it…. all eyes are looking at Bagdad right now, the special official from USA being there to make sure things are going smooth….
Some bonds were funded as well so it is moving in the right direction
....
Dinar Updates:
wmawhite ...the Kurds wanted 20% of the new cabinet (GOI) positions. PM Abadi's list had the Kurds filling 2 positions...the Kurds ALWAYS never agree to anything until after the deadline has passed.
P.S...20% of 16 ministers is 3.2...IMO,
Abadi knew this was coming and it will be a process that he (Abadi) is extremely good at doing.
**************
Melaza: WikiLeaks Controversy Strengthens Case for Greek Debt Forgiveness
APRIL 4, 2016 2:00 AM EST By Mohamed A. El-Erian
The release this weekend by WikiLeaks of the purported transcript ofdiscussions among International Monetary Fund officials about the best way to compel Greece's creditors to accept debt restructuring led to much finger pointing and seeming indignation.
Yet the economic case for forgiving that country's debt is straightforward: Without relief within a comprehensive reform program, Greece will struggle to grow, unemployment will remain high, and the turmoil will continue to periodically challenge the functioning of the euro zone.
The political calculus is a lot harder, however. Even the window opened by Europe’s refugee crisis is failing to provide a sufficient catalyst for change. If that continues, Greece could end up an element of a much larger threat to the integrity and performance of both the euro zone and the European Union.
Debt forgiveness is never granted easily, and with good reason. Even when it is a financially viable solution, the concept raises fundamental issues of fairness and incentive-compatibility.
Why should a deadbeat debtor be granted relief when others have labored to pay off their debt? What about the creditors who worked hard to earn the money that they lent; why should they be punished? And doesn't the granting of debt forgiveness encourage other debtors to be less diligent, potentially undermining the overall flow of credit that supports economic growth and broader opportunities for well-being and prosperity?
These are legitimate economic questions. Over time, such considerations have rightly made debt forgiveness rare, subject to protracted negotiations or dependent on the outcome of other truly exceptional events. But the economic analysis also suggests that there are a few cases when debt forgiveness is in fact the better option when a "first best" solution isn’t available.
Here is the economic argument:
Beyond a certain point, high indebtedness does more than crush directly the recovery efforts of the debtor. It also inhibits new capital from coming in as fresh providers rightly worry about being contaminated by what is already an excessive existing liability. Without the much-needed oxygen provided by capital inflows, the debtor suffers even more, rendering growth almost impossible and making the debt trap even deeper.
Historical examples include the hard lessons of Latin America's "lost decade" of the 1980s. During this particularly sad episode, many countries struggled to overcome crushing debt burdens and ended up with prolonged economic stagnation, high long-term unemployment and rising poverty levels. The comprehensive debt relief that finally came at the end of the decade and in the early 1990s was too late to avoid misery, especially for the poorest citizens. There also is the example of poor countries in Africa, which benefited from a cooperative global Debt Initiative for Heavily Indebted Poor Countries in the mid-1990s that allowed a notable pickup in their growth, investment and poverty alleviation.
Most economists agree that Greece will not be able to grow without debt forgiveness. It is a necessary, though not sufficient, component of almost any approach to restoring the country to a sustainable growth path, reducing alarming levels of joblessness and avoiding a lost generation of unemployed and disenfranchised youth. Granted in the context of a comprehensive reform effort, such relief also would help restore Greece's status as a full working member of the euro zone, whose objectives extend beyond economics to important social and political achievements.
But even if the case is straightforward in economic terms, it also is politically complicated.
Primarily because of decisions made in the earlier bailout programs for Greece, the bulk of the country's debt is now owed to other European countries and their official institutions. Accordingly, the debt relief decision only can result from a political process that involves national parliaments, including those of Germany, Finland and the Netherlands, which tend to be averse to any softening of the terms on past loans.
Many had thought that the refugee crisis would make easier the political approval of this economically necessary, though difficult decision. After all, Greece has been in the forefront of the crisis, hosting -- under extremely difficult conditions -- hundreds of thousands of refugees who are looking to settle elsewhere on the continent.
But this window has proven hard to exploit given the deep divisions within the EU that have been exposed by the crisis. Moreover, as the leader on this and many other European issues, Chancellor Angela Merkel of Germany, is finding that her courageous approach to the refugee crisis now faces growing internal opposition.
WikiLeaks's publication of the transcript of internal deliberations at the IMF, an important provider of funds and technical assistance to Greece, makes the politics even more complicated. The document details the thinking of fund technocrats as they attempt to predict how the complex EU politics of the next few months could affect a strategy to obtain the debt forgiveness for Greece that they have long regarded as necessary and are now suggesting could be a prerequisite for further aid.
It turns out that the start of the summer could be an even more challenging period for both the EU and the euro zone. By then, Greece could be running out of money to run its economy and meet debt service payments. The U.K. will vote on whether it should remain in the EU. And Europe is likely to have found out, the difficult way, that the recent regional agreement on refugee flows is hard to implement.
Europe should be taking actions now to avoid a potential confluence of problems this summer that, badly managed, would not just seriously test the region's resolve and problem-solving capabilities, but also its political credibility. In this context, the seemingly hard decision on Greek debt forgiveness takes on a pragmatic necessity that reinforces its economic justification.
It is the one decision that is in the hands of European governments and parliaments that, though they are challenged by anti-establishment nationalistic movements, are still dominated by those who believe in the historic project of an ever-closer European union.
http://ift.tt/1UOTLO9
*********************************
Kaiser Report: Economics of Crime and Stupidity
https://youtu.be/fGlwlwzzXcc
wmawhite ...the Kurds wanted 20% of the new cabinet (GOI) positions. PM Abadi's list had the Kurds filling 2 positions...the Kurds ALWAYS never agree to anything until after the deadline has passed.
P.S...20% of 16 ministers is 3.2...IMO,
Abadi knew this was coming and it will be a process that he (Abadi) is extremely good at doing.
**************
Melaza: WikiLeaks Controversy Strengthens Case for Greek Debt Forgiveness
APRIL 4, 2016 2:00 AM EST By Mohamed A. El-Erian
The release this weekend by WikiLeaks of the purported transcript ofdiscussions among International Monetary Fund officials about the best way to compel Greece's creditors to accept debt restructuring led to much finger pointing and seeming indignation.
Yet the economic case for forgiving that country's debt is straightforward: Without relief within a comprehensive reform program, Greece will struggle to grow, unemployment will remain high, and the turmoil will continue to periodically challenge the functioning of the euro zone.
The political calculus is a lot harder, however. Even the window opened by Europe’s refugee crisis is failing to provide a sufficient catalyst for change. If that continues, Greece could end up an element of a much larger threat to the integrity and performance of both the euro zone and the European Union.
Debt forgiveness is never granted easily, and with good reason. Even when it is a financially viable solution, the concept raises fundamental issues of fairness and incentive-compatibility.
Why should a deadbeat debtor be granted relief when others have labored to pay off their debt? What about the creditors who worked hard to earn the money that they lent; why should they be punished? And doesn't the granting of debt forgiveness encourage other debtors to be less diligent, potentially undermining the overall flow of credit that supports economic growth and broader opportunities for well-being and prosperity?
These are legitimate economic questions. Over time, such considerations have rightly made debt forgiveness rare, subject to protracted negotiations or dependent on the outcome of other truly exceptional events. But the economic analysis also suggests that there are a few cases when debt forgiveness is in fact the better option when a "first best" solution isn’t available.
Here is the economic argument:
Beyond a certain point, high indebtedness does more than crush directly the recovery efforts of the debtor. It also inhibits new capital from coming in as fresh providers rightly worry about being contaminated by what is already an excessive existing liability. Without the much-needed oxygen provided by capital inflows, the debtor suffers even more, rendering growth almost impossible and making the debt trap even deeper.
Historical examples include the hard lessons of Latin America's "lost decade" of the 1980s. During this particularly sad episode, many countries struggled to overcome crushing debt burdens and ended up with prolonged economic stagnation, high long-term unemployment and rising poverty levels. The comprehensive debt relief that finally came at the end of the decade and in the early 1990s was too late to avoid misery, especially for the poorest citizens. There also is the example of poor countries in Africa, which benefited from a cooperative global Debt Initiative for Heavily Indebted Poor Countries in the mid-1990s that allowed a notable pickup in their growth, investment and poverty alleviation.
Most economists agree that Greece will not be able to grow without debt forgiveness. It is a necessary, though not sufficient, component of almost any approach to restoring the country to a sustainable growth path, reducing alarming levels of joblessness and avoiding a lost generation of unemployed and disenfranchised youth. Granted in the context of a comprehensive reform effort, such relief also would help restore Greece's status as a full working member of the euro zone, whose objectives extend beyond economics to important social and political achievements.
But even if the case is straightforward in economic terms, it also is politically complicated.
Primarily because of decisions made in the earlier bailout programs for Greece, the bulk of the country's debt is now owed to other European countries and their official institutions. Accordingly, the debt relief decision only can result from a political process that involves national parliaments, including those of Germany, Finland and the Netherlands, which tend to be averse to any softening of the terms on past loans.
Many had thought that the refugee crisis would make easier the political approval of this economically necessary, though difficult decision. After all, Greece has been in the forefront of the crisis, hosting -- under extremely difficult conditions -- hundreds of thousands of refugees who are looking to settle elsewhere on the continent.
But this window has proven hard to exploit given the deep divisions within the EU that have been exposed by the crisis. Moreover, as the leader on this and many other European issues, Chancellor Angela Merkel of Germany, is finding that her courageous approach to the refugee crisis now faces growing internal opposition.
WikiLeaks's publication of the transcript of internal deliberations at the IMF, an important provider of funds and technical assistance to Greece, makes the politics even more complicated. The document details the thinking of fund technocrats as they attempt to predict how the complex EU politics of the next few months could affect a strategy to obtain the debt forgiveness for Greece that they have long regarded as necessary and are now suggesting could be a prerequisite for further aid.
It turns out that the start of the summer could be an even more challenging period for both the EU and the euro zone. By then, Greece could be running out of money to run its economy and meet debt service payments. The U.K. will vote on whether it should remain in the EU. And Europe is likely to have found out, the difficult way, that the recent regional agreement on refugee flows is hard to implement.
Europe should be taking actions now to avoid a potential confluence of problems this summer that, badly managed, would not just seriously test the region's resolve and problem-solving capabilities, but also its political credibility. In this context, the seemingly hard decision on Greek debt forgiveness takes on a pragmatic necessity that reinforces its economic justification.
It is the one decision that is in the hands of European governments and parliaments that, though they are challenged by anti-establishment nationalistic movements, are still dominated by those who believe in the historic project of an ever-closer European union.
http://ift.tt/1UOTLO9
*********************************
Kaiser Report: Economics of Crime and Stupidity
https://youtu.be/fGlwlwzzXcc
KTFA:
Dnari131: Iceland's PM urged to resign after Panama Papers leak
More than 16,000 Icelanders have also signed a petition demanding his resignation, while the opposition has said it will seek a vote of no confidence in parliament, likely to be held this week.
Posted 04 Apr 2016 19:00
A former prime minister urged Sigmundur David Gunnlaugsson to resign after the International Consortium of Investigative Journalism on Sunday released 11.5 million financial records detailing the holdings of a dozen current and former world leaders.
They included Gunnlaugsson of Iceland's right-wing Progressive Party and his wife Anna Sigurlaug Palsdottir, as well as criminals and celebrities.
"The prime minister should immediately resign," former Social Democratic prime minister Johanna Sigurdardottir said in a message posted on Facebook.
More than 16,000 Icelanders have also signed a petition demanding his resignation, while the opposition has said it will seek a vote of no confidence in parliament, likely to be held this week.
According to the documents, Gunnlaugsson and Palsdottir purchased the offshore company Wintris Inc. in the British Virgin Islands in December 2007. He transferred his shares to his wife in 2009 for the symbolic sum of one dollar.
Gunnlaugsson on Sunday denounced the release of the documents and called it a witch hunt against him and his wife. "She (Palsdottir) has been adamant to pay taxes on it (Wintris) to the Icelandic society rather than saving money by paying taxes abroad.
"She has neither utilised tax havens nor can you say that her company is an offshore company in the sense that it pays taxes abroad rather than in Iceland," Gunnlaugsson said on his website.
Gunnlaugsson was elected in 2013 by promising full transparency but he has been in the hot seat since his wife acknowledged the existence of the company in mid-March.
In an interview with Swedish public broadcaster SVT that aired Sunday in Iceland, Gunnlaugsson stormed out and refused to answer any questions when pushed to explain the nature of the offshore company.
"There have not been any of my assets hidden anywhere," Gunnlaugsson said. "It's like you are accusing me of something," he said. His spokesperson told SVT that the couple had followed all Icelandic law and had declared all income and property since 2008.
Despite media requests, his tax records had not yet been publicly released. A demonstration calling for Gunnlaugsson's resignation was to be held Monday evening in Reykjavik.
"People should not have a prime minister they are ashamed of ... The prime minister expressed a distrust of the currency and the Icelandic economy by putting money in a tax haven," said Sigurdardottir, the former prime minister.
- AFP/ec
http://www.channelnewsasia.com.....64402.html
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Dnari131: PM David Cameron implicated via father in Panama Papers
1. http://ift.tt/1RZXr8K
2: http://ift.tt/1W61Kp7;
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Walkingstick: The document accuses the politicians of the world hundreds of smuggling money .. including Iyad Allawi
BAGHDAD / JD / .. revealed a huge number of leaked documents how to use the rich and powerful individuals, including heads of state, tax havens to stash their wealth abroad.
According to a report published by the BBC: that 11 million document leaked from Musak Fonseca Legal Services, based in Panama-based and is considered one of the more companies that surround its secrecy.
The documents show links with the 72 heads of state personal current and former, including the rulers are accused of plundering their money.
The secret documents to the illegal trade relations for each of the former Iraqi Prime Minister Iyad Allawi, the Argentine president Mauricio Macri, and the Prime Minister of Iceland, the President of Ukraine and Prime Minister of Pakistan, the son of the Secretary-General of the United Nations Kofi Annan, and the father of British Prime Minister David Cameron.
It includes data secret offshore companies linked to the families and those close to former Egyptian President Hosni Mubarak and Libyan leader Muammar Gaddafi late, and Syrian President Bashar al-Assad.
The documents show how the company has helped clients on money laundering, and to avoid penalties, and tax evasion.
The company says it has worked for 40 years blameless and that they did not face any accusation of committing criminal offenses.
The newspaper "Sueddeutsche Zeitung" and the German got the documents, which were traded with the International Consortium of Investigative Journalists.
The BBC within 107 media organizations in 78 countries embarked on an analysis of documents. And do not know the BBC source who leaked the identity documents.
Gerrard said Riley, the International Consortium of Investigative Journalists director, said that the documents cover the daily business in the Musak Fonseca company during the past forty years.
"I think that the infusion has become the biggest blow received by the world (activities) abroad because of the volume of documentation."
Russia
The data also revealed a suspected network of money laundering valued at one billion dollars managed by the Russian bank involved in a number of close associates of President Vladimir Putin.
And it manages the process Bank of Russia, which imposed a US and European sanctions against Russia following the annexation of the Crimea.
The documents show how the work of the bank.
And they transfer money through offshore companies, he owns two of them formally of two close friends of Putin.
And extends friendship cellist Rolduqin with Putin since they were boys, a father of Maria, the daughter of Putin.
On paper Rolduqin grossed millions of dollars worth of deals have been described as "suspicious."
But documents from Rolduqin companies say that "the company's institutional cover held in the first place to protect the identity and confidentiality of the ultimate beneficial owner of the company."
Musak Fonseca documents show that the Icelandic Prime Minister Siegmundour Gunlaogson has undeclared interests in the country's banks by the state bailed.
Gunlaogson accused of hiding millions of dollars in investments in the country's banks behind the guise of confidentiality of a foreign company.
The leaked documents show that Gunlaogson and his wife bought the company in its name abroad "and Antric" in 2007.
Musak Fonseca says it is committed to international protocols to ensure that the companies that comprise Do not use the tax evasion, money laundering and the financing of terrorism or any other illegal purpose.
The company says it is eager to work and regrets the misuse of its services.
The company says "Over the 40 years I worked Musak Fonseca away from any suspicions in our country and in other areas where there are processes to Na.lm never bring charges against our company was condemned in any criminal act."
"When we discover any suspicious activity, notify the authorities to contact us Alfor.uandma authorities evidence of the possible existence of irregularities, cooperate with them fully."
Musak Fonseca says that companies that are managed abroad are everywhere and use multiple legal purposes. / End / 22 /
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