More From My Ladies and Friends: "AIIB, BRICS, and More Tuesday Afternoon"

PrincessDD:  Why MBIA Inc. Dropped 12% on Talk of a Puerto Rico Restructuring

Shares of MBIA plunged more than 15% as investors weigh probable losses resulting from Puerto Rico's "inevitable" restructuring.    http://ift.tt/1GMyE3c

PrincessDD:  Greece may have easier road to recovery than Puerto Rico  http://ift.tt/1ehhgfd

PrincessDD;  The next Greece may be in the U.S.  (mentions Chicago and New Jersey) http://ift.tt/1HvVSR0

MY LADIES:  OK SO LET'S TAKE A LOOK AT SOMETHING VERY VERY INTERESTING....

ARE WE READY????????
....

MY LADIES:  OK SO PLEASE READ THIS FOR ME... 
http://ift.tt/1ehheUE

Sager:  This may take a while lol. Is there anything specific you want us to zone in on?

MY LADIES:  CAPITAL, FINANCES & OPERATIONS

I THINK WE CAN SAY THIS FURTHER AFFIRMS THAT THEY ARE WORKING WITH AND NOT AGAINST WESTERN INFLUENCED BANKS...  WOULD WE AGREE???

MY LADIES:  SO THEN WE KNOW CHINA HAS SO SO SO MANY DOLLARS CORRECT???

AND THEY ARE PUTTING THEIR USD INTO INFRASTRUCTURE RIGHT???

SO A THEORY OF HERBERTS...IS IT POSSIBLE THIS BANK MAY HAVE BEEN CREATED TO ABSORB THE OVER FLOW OF DOLLARS THAT WOULD NORMALLY TAKE OUR TREASURY YEARS UPON YEARS TO ABSORB AND PUT IT INTO INFRASTRUCTURE AROUND THE GLOBE???

Sager: 100 billion usd

MY LADIES:  WELL IT SEEMS THAT'S JUST FOR STARTERS

TG: The QE dollars?

Dale:  I think that China sees the damage that the derivatives have harmed US banks and they need an alternative that will not be associated w these toxic banks until the derivatives are wiped out and no longer an issue

TG: The Trillions that are backed by air?    That would be great if it works

MY LADIES:  ....GOOD QUESTION... BUT BACKED BY AIR OR NOT THERE ARE TRILLIONS OF THEM FLOATING AROUND...

Sager:  Mary would that not be risky?

MY LADIES:  AND I FIND IT INTERESTING THAT THIS MAJOR LEG OF BRICS IS BACKED BY USD

TG:   Would they be absorbed into real assets?    That was a surprise.

AIIB bonds might be a good future investment

Sager:  That's in their plans as per the link that Mary provided

MY LADIES:  HUMMM DID YOU READ THE PART ABOUT VOTING RIGHTS???

SO HERE IS VOTING RIGHTS FOR BRICS

The bank will be headquartered in Shanghai, China.[3] Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.[4]

AND HERE IS FOR AIIB

15. How is voting power in the AIIB calculated?

Members' voting power is the sum of their Basic Votes, Share Votes and, where applicable, Founding Member Votes.  Basic Votes for all members constitute 12 percent of the total number of votes (Basic Votes, Share Votes and Founding Member Votes) at any time; an equal number of Basic Votes is allocated to each member. For Share Votes, each member has one vote for each share of capital stock held. Each Founding Member will also be allocated six hundred (600) Founding Member votes

JUST LIKE THE WORLD BANK AND MOST WESTERN BANKS...HUMMMMM

TG:  No veto so no playing with the system the way the US is now

MY LADIES:  OK SO NOW READ THIS...   http://ift.tt/1nZF4WF

Sager:  "Greece under the new government of Alexis Tsipras is seeking the possibility of joining the New Development Bank [21]"     This caught my eye

MY LADIES:  GOOD EYE…

OK SO IT SEEMS BRICS WILL BE USING THEIR OWN CURRENCY EACH COUNTRY

BUT THE SAME PEOPLE IN BRICS ARE THE SAME PEOPLE IN AIIB AND THE PEOPLE IN AIIB ARE RUNNING AN ASIAN VERSION OF A WESTERN BANK...DOES THAT SUM IT UP???

OK SO RIDDLE ME THIS...

WHY??? WHAT IS THE POINT??? IS THIS JUST GOING TO BE THE NEW WORLD BANK IN THE NEW SYSTEM??

Sager:  I was going to ask that very question, but to you. Where is the newspaper lady going with this lol. Hmmm good question…. There definitely is a piece of information we're missing, because they wouldn't be doing this just for the hell of it

MY LADIES:  WELL I NEED TO THINK TANK WITH NOVA AND HERBERT BUT I THINK THE ALL THINGS DEBT LADEN FROM OLD NEED TO GO..

SO THE WORLD BANK WOULD BE 1 OF THOSE THINGS IN THE DEBT BUBBLE CRASH..

Sager:  Quick question, Isn't the IMF moving to Beijing?

MY LADIES:  YES AND THE IMF IS BROKE TOO, AND IF THE LAND SLIDE CONTINUES MANY COUNTRIES WILL BE DEFAULTING TO THE IMF

Sager:  Then could that be the eventual fall of the IMF? If they're broke, they can't serve a purpose...      Which would usher in the new development bank?

MY LADIES:  THAT ARTICLE ABOUT GREECE YOU JUST FOUND..I TRANSLATED IT AND IT TOOK PLACE ON  MAY 13TH AND LOOK AT HOW GREECE WOULD HAVE TO CONTRIBUTE...

Last updated: 13.05.2015 | 13:00

Spread it:

Former Greek representative to the IMF, Panagiotis Roumeliotis takes ... mission to investigate whether Greece can participate in the new development bank of BRICS.

In his meeting Tuesday Vice Prime Yannis Dragasakis with the Union of Greek Banks discussed the government's intention to explore the opportunities for participation of Greece in New Development Bank of BRICS (New Development Bank) after a proposal submitted to the country us.

For that matter, the Deputy Prime Minister appointed as responsible for investigating these possibilities Panagiotis Roumeliotis.

Recall that according to the report newsit.gr any involvement in Development Bank of BRICS will be via a Fund which will be invited Greek shipowners, businessmen and investors.

Mission to investigate this possibility and finding the funds undertaken by Mr.. Roumeliotis.

MY LADIES:  OH MY THIS IS ALL FALLING TOGETHER NOW....READ THE LAST 2 PARAGRAPHS SLOW....

Dale:  surely it all has to do w moving away from fiat to asset backed banking

Sager:  What would the funds be used for Mary?  Any idea?

MY LADIES:  OK SO THE AIIB MIGHT PROBABLY BE USING THE BANK AS A WAY TO  FUNNEL ALL THE FLOATING DOLLARS AROUND, TAKE THEM IN , THEN LEND THEM BACK OUT AND TURN THEM INTO INFRASTRUCTURE AND SUCH

RR:  I remember in the Armstrong article, he discussed the fact that the Greek economy was built on the small business man and that they could not have the same ability to have large exports like other countries in the Eurozone.  For Greece to succeed, it would take a major fundamental changes in how they increase GDP.  So this plan focuses on the little guy?  (ie. Greek shipowners, businessmen and investors)

PrincessDD:  Greece Floats New Bailout Proposal, Merkel Rules Out More Negotiations http://ift.tt/1GWLOwR

PrincessDD:  COUNTDOWN TO EUROGEDDON: Greece To Default On €1.6 billion IMF Debt Repayment At Midnight Washington Time

The Associated Press

http://ift.tt/1ehhgfi

Bandito Rox:  Finnish FinMin: Eurogroup says Greek bailout extension or debt haircut not possible

Greece is heading towards a default on a debt payment due Tuesday, with investors fretting over the possibility the country could exit the euro zone.

Meanwhile, a Greek media report has claimed that negotiations might restart between the government and the country's creditors.

We'll have all the new developments for you as well as the major market movements.

http://ift.tt/1HvonOC

MY LADIES:  OK OK...LET'S HOLD UP ON GREECE FOR  A MIN...I WANT TO CONTINUE THIS DISCUSIION PLEASE.   SO THIS AIIB GIVES US A GOOD LOOK INTO THE FUTURE OF THE DOLLAR...

I THINK IT SPEAKS VOLUMES THAT THIS BANK HAS CAPITAL REQUIREMENT IN THE USD

AW: Apparently,.........the German investors have a greater stake in this than most.

PrincessDD:  werent they each having to put in 500k each into it?

SM:   So is it kinda like a Credit Union then?

MY LADIES:  WELL I THINK BRICS IS MORE LIKE THE CREDIT UNION SOCKS...BUT AIIB IS JUST ANOTHER VERSION OF THE WORLD BANK RIGHT DOWN TO THE CAPITAL AND VOTING RIGHTS

IN THE NEAR FUTURE WHEN EVERYONE IS ON THEIR OWN CURRENCY WHAT WILL THEY DO WITH ALL THE DOLLARS??????

Sager:   Could they absorb such an enormous amount of usd?

MY LADIES:  WELL I GUESS IT DEPENDS ON HOW MUCH INFRASTRUCTURE THERE IS

100BILLION IS NOT A LOT WHEN YOU CONSIDER THERE ARE 57 MENBERS NOW AND THEY ALL NEED BILLIONS IN PROJECTS.

MY LADIES:  WELL IT LOOKS LIKE THEY WILL FUNNEL THEM INTO THE AIIB AND THEN LEND THEM OUT AGAIN...JUST GENIOUS...AND THE BONDS WILL BE IN USD I'M SURE TOO

Sager:  Possibly keep them as foreign reserves … some of them at least?

SM:  Maybe slowly reduce the number of dollars in circulation over time, like a controlled landing?

MY LADIES:  EXACTLY SOCKS...THAT IS EXACTLY IT...

Sager:  Now that makes sense

MY LADIES:  YEA IT DOES...

MY LADIES: WHAT IS THEIR REQUREMENT PRINCESS DID YOU SEE IT

PrincessDD:   Russia is the 3rd largest shareholder in AIIB too.

Russia’s share in AIIB’s authorized capital will be $6.5 billion, said Russian Deputy Finance Minister Sergei Storchak after the signing ceremony, TASS reports.

“The share of Russia’s participation in AIIB will amount to $ 1.3 billion in monetary terms and $6.5 billion in the bank’s full authorized capital. That is, the paid capital amounts to 20 percent. In this case, Russia will possess 65,362 shares of the bank,” said Storchak adding that the bank’s board of directors will be joined by a Russian representative.

The authorized capital is divided into 1,000,000 shares with a value of $100,000 each.

AIIB will provide funds for the development of road systems, telecommunications and other infrastructure projects in the poorer regions of Asia. At the initial stage, AIIB will focus on creating a ‘New Silk Road’ – a system of trade routes linking the markets of Europe and Asia.

Experts consider AIIB a potential rival to the US-based IMF and World Bank. However, the head of the IMF, Christine Lagarde, said the IMF and the World Bank are ready to work with AIIB.

MY LADIES: OK VERY GOOD  …. OK SO LOOK THIS IS INTERESTING TOO, RUSSIA IS NOT CONSIDERED AN OWNING COMPANY  HERE LOOK

As a regional bank, the AIIB's regional members will hold the majority of capital stock—a minimum 75% except as otherwise agreed by the Board of Governors. This shareholding arrangement reflects the commitment and ownership of regional members.

Who may become a member of AIIB?

Membership in AIIB is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank. The Board of Governors is responsible for decisions on new members.

Regional members are those located within areas classified as Asia and Oceania by the United Nations (see http://ift.tt/1200WGe), except as otherwise decided by the Board of Governors.

MY LADIES:  OK OK HOLD ON A MIN PRINCESS...LET'S LOOK AT THIS A LITTLE CLOSER

SO ACCORDING TO THAT LINK RUSIIA IS NOT AN OWNING MEMBER

WE HAVE

142 Asia

143 Central Asia

030 Eastern Asia

034 Southern Asia

035 South-Eastern Asia

145 Western Asia

AND WE HAVE..

009 Oceania

 053 Australia and New Zealand

 054 Melanesia

057 Micronesia

061 Polynesia

BUT AUSTRALIA AND NEW ZEALAND ARE...VERY VERY INTERESTING..

EVERY ONE ELSE ARE CALLED MEMBER COUNTRIES..

OK SO ALL THE CRAZINESS ABOUT THE AIIB BEING SOMETHING OMINOUS FOR THE USA TURNS OUT TO BE NOTHING MORE THAN A WESTERN BANK HELD IN ASIA..LOL...

SO IRAN MADE THEIR CONTRIBUTION YESTERDAY AND THEY DID IT DOLLARS..

SO THAT EXPLAIND HOW THAT WAS DONE WITH THE SANCTIONS STILL ON IRAN..

AND ALL THE FUSS ABOUT IRAQ JOINING, WELL THEY HAVE TO USE USD TOO NOT DINAR.

BUT THE GOOD NEWS IS THAT IRAN AND IRAQ ARE OWNING COUNTRIES UNDER WESTERN  AND SOUTHERN ASIA

PrincessDD:  Why US Allies Are Happy to Join China’s AIIB

The China-led Asian Infrastructure Investment Bank (AIIB) has swept up U.S. allies.

On  June 29, representatives of 50 countries gathered in Beijing to sign the legal framework agreement to establish the $100 billion Asian Infrastructure Investment Bank (AIIB). Seven more countries are expected to sign, bringing the total number of founding AIIB members to 57. The institution will launch with China having a 30.4 percent share of the AIIB’s equity, followed by India (8.5 percent) and Russia (6.7 percent). The two notable absentees are the United States and Japan. Key NATO allies of the U.S., like Germany, France and the United Kingdom, have opted to join the AIIB. Germany will have the largest non-Asian stake (4.1 percent).

Of all its allies, why did only Japan stand with the United States on an issue with strategic implications? The new AIIB will symbolize China’s rise as a financial superpower, guiding the world’s biggest infrastructure financing institution. Whatever their reservations about China’s financial rise, most countries see it as a fact of life that cannot be stalled by staying out of the AIIB. They would rather be inside it, getting a share of the infrastructure orders that the AIIB will finance.

U.S. President Barack Obama says China may steer AIIB loans to meet political or strategic considerations rather than economic. So, the AIIB will have lower lending standards than existing multilateral institutions like the World Bank and Asian Development Bank, and undercut their effectiveness. Japan echoes this sentiment.

http://ift.tt/1HvEcF6

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My Ladies And Friends Tuesday Chat: "Waiting For Midnight and Greece"

Thanks My Ladies for letting us share from your Private Chatroom today.

MY LADIES:  OK IT'S 5PM IN GREECE...WHAT'S HAPPENIING

Sager:  Mary Greece deadline is at midnight their time, which is 5pm Eastern

PrincessDD:  Tuesday 30 June 2015   Business Newsletter
Greece crisis: Thousands join crowdfunding efforts to fund €1.6bn bailout http://ift.tt/1g86itY

Everything in the last hour says they wont pay the payment and will default, and that Turkey is ready to bail them out.

MY LADIES:  HUMMM OK SO WE WAIT THE DAY OUT...
....

PrincessDD:  The Greece Default Is Finally Here http://ift.tt/1Hs662L

PrincessDD;  Markets on edge as Greece heads for default  LONDON | By Lionel Laurent  http://ift.tt/1II3QRF

PrincessDD;  Greece promises NOT to pay the IMF   http://ift.tt/1LzWuVB

PrincessDD:  Turkey says 'ready to help' Greece out of economic crisis http://ift.tt/1LzRL65

Sager:  Forget about it Turkey, Greece doesn't want to pay the IMF

PrincessDD;  I know, but it was sweet of them to offer. ;)

MY LADIES:  LIP SERVICE..ALL LIP SERVICE...LOL.

We are ready to help Greece survive its economic crisis with cooperation in tourism, energy, trade," Turkish Prime Minister Ahmet Davutoglu said in the capital, Ankara.

Turkish Economy Minister Nihat Zeybekci said on Monday if an official proposal for financial aid is made by Greece, "we will evaluate it."

BIG DIFFERENCE BETWEEN HELPING AND EVALUATING...LOL..

PrincessDD;  (chuckle) Yea those folks are just being tired of manipulation by the IMF it seems and they want to be able to get out from under their thumb.

PrincessDD;  Greece set to lose $18 billion if bailout ends http://ift.tt/1dvgLxD

MY LADIES:  European Union officials say Greece would lose access to more than 16 billion euros ($18 billion) in financial support if its bailout program expires at midnight (2200 GMT).

The officials, who spoke on condition of anonymity because contacts about the program were still ongoing, said three sources of money would disappear in the event of no agreement to extend the bailout.

These include 1.8 billion euros from the EU's financial stability fund, 10.9 billion euros from a Greek bank rescue fund, and a further 3.4 billion euros in central bank profits.

Greece can apply for some other form of assistance, but this could take weeks to organize. In that case, an assessment would first have to be made on whether Greece is eligible, what kind of terms the new package would function under and the kinds of reforms that Athens would undertake in return.

MY LADIES:  THERE IS A PLAN WE AREN'T ABLE TO SEE YET...

PrincessDD;  Capital controls means Greeks can click but not buy http://ift.tt/1g86iKd

Princess DD: <<< Oh wow check this out! :O

German Finance Minister Schaeuble: Greece is staying in the euro no matter what

Read more: http://ift.tt/1dvgMRY

Germany's Finance Minister Wolfgang Schaeuble just bucked the trend in the Eurogroup, by saying that Greece can stay in the eurozone even if it says "No" to the bailout package in Sunday's referendum.

Schaeuble told lawmakers in Berlin that Greece would stay in the euro regardless of the outcome of the July 5 referendum, according to Bloomberg.

MY LADIES:  HUMMMM WELL MAYBE THERE IS A RABBIT IN THE HAT....

MY LADIES:  RECAPS JUST SENT ME SOMETHING,  AND I CAN NOT BELIEVE I'M ABOUT TO SAY THIS......BUT IT CAME FROM TNT...

http://ift.tt/1GKdLVt

NOW I REMEBER THIS BACK IN 2012 AND REMEBER DINAR LAND RUNNING WITH IT BECAUSE THEY THOUGHT IT SERVED A PURPOSE AT THE MOMENT,

BUT I THINK NOVA AND HERBERT AND I HAVE ALL SAID THIS WHOLE BIG THING IS JUST SIMPLY PUT IT'S ALL JUST MATH!

OK SO NOW LOOK AT WHAT SAGER POSTED, AND READ IT COMPLETLY..

http://ift.tt/1g86l8S

THEN LOOK AT ALL WE HAVE BEEN TALKING ABOUT ALL WEEK,

THEN LOOK AT THIS VIDEO WHICH FORCASTED ALL THIS 3 YEARS AGO,

http://ift.tt/1Iqb8NZ

AND THEN LOOK AT THE CYPRUS PLAN

http://ift.tt/1g5EKW6

I THINK WE ARE GETTING A CLEARER PICTURE OF THE PLAN.

E.D.: Mary I did watch that video a while back , but I didn't connect the dots : New currency ?!?

MY LADIES:  NO NO NO NO NO...NOT SILLY TRN'S

A NEW SYSTEM FOR THE NORTH AND THE SOUTH, MAYBE THE EURO AND SOMETHING OR SOME SORT OF BREAK UP THE UNION CURRENCY...

HE WAS NOT SPECIFIC, BUT WE KNOW FROM WHAT WE ARE READING NOW EVERYONE IS ADOPTING A NEW CURRENCY RIGHT???  THEIR OWN!

**********

OH MAYBE START HERE FOR THOSE WHO DO NOT KNOW MARTIN ARMSTRONG

http://ift.tt/1dvgLxF

JP:  Mary, that video was priceless!  So much clearer picture from the rearview mirror.

RR:  I remember that video from a few years ago, Mary.  The other night when we were discussing this and talked about countries would leave the Euro and return to their native currencies, those currencies would likely have to be adjusted to put things on a more level and accurate playing field.  Well, there's at least part truth of these global currency reset rumors we have been hearing about for a while now.  Am I on the right track in this line of thinking?

PrincessDD:  The news has almost run out on Greece….So I guess we see what happens at midnight

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Tuesday News Summaries by Aggiedad77 at KTFA

aggiedad77 » June 30th, 2015, 12:59 pm

Tuesday News Summaries and Commentaries

The news is full of good information IMO.....economic recovery action, word of IMF loans, bonds both domestic and international....that has to mean a decent credit rating in the works I would think....strong work by the COM on a draft money-laundering law....turn this loose on Parliament ASAP.

The central bank in connection with the inclusion of micro-enterprises with loans

More and more discussion around the small and medium level loans the CBI is preparing to make through the banks of Iraq, the amounts not to exceed 10 million dinars per loan with an interest not to exceed 5.5% over a three year period...
....

Designed to work in a positive favor for the economic recovery throughout Iraq...there are many who are on board with this process and hopefully it will provide relief and remedy to many Iraqi citizens in the near term future.

EU seeks to bring Investment Bank to Iraq to revitalize the private sector

The European Union mission in Iraq is working to bring a revitalizing effort to the private sector of Iraq....this is to be focused on reconstruction efforts where damage has occurred due to issues surrounding DAASH occupation.

Interior announces the arrival of its first consolidated the card which will be launched soon shipments

Efforts continue to push forward to implement a unified national card service for Iraqis that will supposedly be good for 10 years...the cards are being designed and manufactured by a German entity and is being worked through the Interior Ministry of Iraq....launching "soon"....oh how often have we heard that word.

International Monetary Fund and the application of the pricing of electricity to give Iraq a loan of 833 million dollars is required

Every month this mystical loan from the IMF shows up....and here it is yet again, right on time at the end of the month.....$833 million dollars......they keep teasing with this they will wear the face off the bills....so will this be used to help with economic reform....with the private sector.....with electricity needs.....or will it be merely waved in front of the noses of Iraq as a tempting reminder that they desperately need the help from the IMF but need to make commitments to get what is needed from them.

Conscious / adviser Abadi: financial crisis a lesson for Iraq for the advancement of its economy

Dr. Saleh spoke today regarding Iraq's seeking of diversification of investments from oil revenues that would include other industrial sectors as they attempt to further the efforts associated with the Iraqi economy and its recovery....today Iraq is forced to play a balancing act with the war they have on their hands with terrorists while at the same time they work diligently on economic reforms that will help them rebuild their country.....two very time consuming and money consuming issues.

Parliamentary Finance: fake banks operating on the purchase of currency from the central bank sold a profit of up to $ 40 million

These accusations by the Finance Committee and certain members within the committee make me grow weary.....notice they can only make "claims" of "alleged" wrong-doing......but not once have they proven anything or backed up their allegations....these are MP"s who simply wish to slow down the process of economic recovery, they stand on the side of the line where Maliki stands and they throw barb after barb, but who pays attention any more.

Baghdad: preparations for the launch of the reconstruction of the liberated areas projects

In true form, they "make" preparations to "launch" the reconstruction efforts...why not just roll up your sleeves and get busy with the work that you know needs to be accomplished....so much more productive....Salahuddin province has been liberated since April....but just now starting reconstruction efforts....well in their defense I guess money was tight for a while.

The transfer of money laundering to achieve "Zora Court" and convert Mlakatha to resume Karkh

I'm guessing that this qualifies as a "change of venue" for this effort regarding money laundering.....maybe this is a court that is better suited and more knowledgeable of such proceedings....anyway.....on with the show.

Cabinet approves draft anti-money laundering and the financing of terrorism law

Important news.....COM approved the draft of the anti-money laundering and financing os terrorism law....good starters and great to get the police involved in the process as well.

The political body of the National Alliance held a meeting in the presence of Abadi and stresses the oil to dissolve the agreement means the legal problems

The leaders of the Iraqi National Alliance met with PM Abadi and stressed a few points where they feel that action needs to be completed regarding certain activities....the biggest of which is coming to an agreement with the Kurds on the oil issues....everyone seems to be standing in sticky mud and unable to move.....President Jaafari is urging for improved action on everyone's part....they spoke favorably about security in recent weeks and advancements that are being made against the terrorists.....good work also seems to prevail with regard to foreign policy and work with Iraqi neighbors.

Imad Youkhana: Parliament will take care of the political agreement document during the new legislative term

Parliament meets tomorrow and can either make some hay with a few important laws or they can just kick the can down the road some more.....we will be watching for the outcome....just get your priorities straight and get on with the Big Show.

Twenty legally bag in front of the parliament in the second legislative year

New legislative year opening up....but some old laws still are laying on the table....National Guard Law, Amnesty Law, Political Parties Law, Investment Law amendments, and the granddaddy.....oil and gas law.....where will they all end up in the shuffle of things.....the roulette table turns and turns.

Central hails anti-money laundering law

It is time to put up or be put on the "black list"....the list that one does not want to be on and definitely be at the top....so Iraq is making moves to implement an anti-money laundering law....mulled over by the COM and now a draft exists....will this be pushed to the Parliament at this point....or will there need to be further study.

INTERVIEW-Iraq to issue intl bonds in August

"Oh the bonds at night are big and bright.....deep in the heart of Iraq"....no I'm not singing that.....but look for domestic bonds to surface in July in the amount of $5 billion dollars....and then turn around in August and see $6 billion dollars worth of international bonds being issued.....all said to help reduce the status of the budget deficit.

Well some very interesting news indeed....enjoy.   Aloha    Randy

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OOTW News & Comments: Parliament Agenda

Post From Wealthwatch.world Chat Room -- 6-30-15 AM

[10:01:58 AM] Donnie: Kirkuk : thwarted plot to blow up a mosque-like Kuwait and Al-Saadoun was arrested in coordination with us Tuesday June 30, 2015 15:25

[10:02:01 AM] Donnie: Alsumaria News / Kirkuk, stressed the governor of Kirkuk, Najm al-Din Karim , Tuesday, that the forces of the Patriotic Union of Kurdistan (PUK) had foiled a plot to blow up a Shiite shrine Arafa north of the province similar to the bombing of a mosque Kuwait , 

among the arrest of the leadership of a member of Qatar Iraq's ousted Baath party Abdel Baqi al-Saadoun took place between the intelligence service and police to coordinate the province. Karim said in an interview with a number of media including Alsumaria News , 

"The anti-terrorism forces of the Patriotic Union of Kurdistan possessed intelligence information about the existence of the scheme to target the Shiite shrine Arafa suicide bombing terrorist and secured the area and evacuation of the population," explaining that "when it came The terrorist was addressing him with his foot injury and then blew himself up without there be any casualties or damage. "
~~~

[10:02:16 AM] jarhead: ‹@Donnie› ur good lol

[10:02:17 AM] Donnie: http://ift.tt/1R2e0X5...

http://ift.tt/1T1YGas

[10:02:46 AM] Donnie: ‹@jarhead› like that huh? lol

 [10:25:22 AM] whitelions: You know I just had a thought what if Abadi and all his supporters well the trusted ones are putting the heat on Maliki and his supporters through threat of jail and worse just to get them to pass all the laws they are fighting now ? What do you people think?

[10:33:27 AM] whitelions: what is everybody under a gag order in here lol it's just a question

[10:34:21 AM] whitelions: thank you Donnie

[10:34:29 AM] Donnie: i don't think too many people are here now - at least not that i've seen

[10:37:35 AM] whitelions: O well I'll come back and ask again when the room is moving , I'm posting and the news today is all about everybody coming together and making Iraq strong thats what gave me the idea that what we may be seeing is a way to get SOL in line the way thay got M out of office by manipulation

[10:38:05 AM] Donnie: Cultivation of Kurdistan : We controlled the bird flu epidemic and we will import poultry from Turkey Tuesday June 30, 2015 13:22

[10:38:08 AM] Donnie: Alsumaria News / Erbil announced and Ministry of the cultivation of the territory of the the Kurdistan , Tuesday, its control over the and B. bird flu, affirming that she will open the border crossings in front of the import of the Turkish Poultry the production of. and said and Minister of the cultivation of the Provinciarum Abdul Sattar glorious in a press conference held today, in Erbil and attended by Alsumaria News, he was "been control of the virus H5N not recorded any new cases in the past month in the Kurdistan region , "hoping to" terminate the entire epidemic. "

[10:39:01 AM] Donnie: read the rest here: http://ift.tt/1R2e0X5...

http://ift.tt/1R2e3Cg

 [10:41:49 AM] Donnie: Babylon demanding the Council of Ministers the need to to expedite by issuing instructions the implementation of projects on credit The editor Haidar glorious - Tuesday June 30th, 2015 4:44 p.m.

[10:42:13 AM] Donnie: Alsumaria News / Babylon student First Deputy Governor of Babylon and Sam Aslan, Tuesday, Council of Ministers the need to to expedite in the issuance of instructions for the implementation of plans and projects on credit, indicating that the the needs of citizens of services and embarrassments the financial obligations of projects are under implementation have made ​​the local government in the development of "I do not an enviable".

and said Aslan in an interview with Alsumaria News , "The cash flow is the most prominent of our suffering in the province due to the financial crisis experienced by the country," noting that "all preservation projects currently parked."

[10:42:40 AM] Donnie: read more here: http://ift.tt/1R2e0X5...

http://ift.tt/1R2e0X7

[11:21:37 AM] whitelions: OMG Donnie your not going to believe this look at what I just found

[11:21:55 AM] whitelions: :laughing:  lol lol lol

[11:22:03 AM] whitelions: A coalition of state law confirms that the idle important laws to be approved in the next legislative term... Tomorrow Press / Baghdad confirmed a coalition of state law, Tuesday, that the next legislative term of the House of Representatives will be the adoption of important laws such as broken National Guard general amnesty and social security. http://ift.tt/1ewhcZN....

http://ift.tt/1T1YGaw

[11:22:49 AM] whitelions: talk about getting in line

 [11:23:40 AM] Dianne777: ‹@whitelions› ‹@whitelions› r we there yet?

[11:24:42 AM] whitelions: ‹@Dianne777› we may be closer than we were yesterday lol

[11:24:52 AM] Dianne777: lol

[11:26:12 AM] whitelions: time to clean the house come on rv I need a maid

[11:35:19 AM] Sam: ‹@whitelions› YES looks like a great thing... right???

[11:38:09 AM] OOTW: The agenda of the session number (2) Thursday 2 July 2015 July 2, 2015 First, read verses from the Koran. Second: Hosting Mr. Deputy Prime Minister, Mr. Bahaa al-Araji, to discuss issues related to energy and electricity. (Only one hour).

Third: The first reading of the draft law on ratification of the Republic of Iraq to the Statute of the Council of the Arab Peace and Security Act. ( Committee on Foreign Relations , the Committee on Security and Defense ), (2 article).

Fourth: The first reading of the draft ratification Istisna'a loan agreement and the law of ratification agency Istisna'a between the Government of the Republic of Iraq and the Islamic Development Bank Convention on the Law. ( Foreign Relations Committee , the Finance Committee ), (2 article).

Fifth: the second reading of the draft law amending the compulsory insurance of car accidents Law No. (52) for the year 1980 ( the Finance Committee , for security and defense committee , the Commission on oil and energyand natural resources), (4 items).

Sixth: The second reading of the draft Islamic Banking Act. ( Finance Committee , the Committee of Religious Endowments and Religious Affairs , the Legal Committee ), (16 articles). Session start time: one in the afternoon http://ift.tt/1R2e3Ci...

[11:38:25 AM] OOTW: "Sixth: The second reading of the draft Islamic Banking Act. ( Finance Committee , the Committee of Religious Endowments and Religious Affairs , the Legal Committee )"

[11:39:32 AM] OOTW: Fourth: The first reading of the draft ratification Istisna'a loan agreement and the law of ratification agency Istisna'a between the Government of the Republic of Iraq and the Islamic Development Bank Convention on the Law.

[11:42:11 AM] OOTW: Purpose of Financing under Istisna'a and Back-to-Back Contracts: Given the mammoth changes in the volume and value of the projects necessitated by the development drives undertaken by governments or such other projects assigned to the private sector,

and in view of the lack of liquidity and insufficient financing sources in addition to lack of expertise needed, a sore need has arisen for a new form of Islamic compliant financing.

Thus, Istisna'a became one of the sale contracts which could be used by Islamic banks to meet the needs and requirements of individuals and organizations which can not be financed through other sale contracts; Under Istisna'a financing contract, the underlying commodity is manufactured and the price is paid on forward basis or on installments, depending on the Istisna'a requester (the customer) and the consent of the manufacturer (the bank).

Scope of Applications: Examples of Istisna'a contracts, which may be used for the community welfare, include infrastructure projects such as construction of roads, schools, hospital, buildings, power and other facilities, in addition to myriad contracts such as manufacturing of aircrafts, vehicles and ships.

It would have been difficult for the sponsors/ owners of such projects to find other suitable financing alternatives. Parties of Istisna'a Contract:

1- Istisna'a requester: is the buyer (owner of the project)

2- Manufacturer: is the bank (seller/producer) which enters into contract with the Istisna' requester and commits itself to provide the subject commodity.

3- Contractor: is the seller, contractor or actual contractor, which concludes the back-to-back contract with the bank and starts manufacturing or construction of the subject commodity.

It is the bank's sub-contractor or supplier. 4- Product: is the commodity defined and contracted to be manufactured.

The bank is considered to be the manufacturer and principal contractor vis-à-vis the Istisna'a requester who is the owner vis-à-vis the contractor in the second contract (back to ba

[11:44:07 AM] OOTW: BACK TO BACK FINANCING REGULATIONS UNDER SHARIAH TERMS

[11:44:12 AM] OOTW: Istisna'a and Back-to-Back Istisna'a Finance: It is no more acceptable for Islamic banks to provide finance to government sponsored projects in forms abhorrent to their articles of associations nor is acceptable for an Islamic bank to finance private sector projects by way of interest free loans.

Therefore, Istisna'a has been rendered to be the most appropriate Sharia and business form to finance infrastructure projects, manufacturing aircrafts, construction of power stations, buildings, and equipments, which have to be completed on need basis.

Hence, there arises the importance of Istisna'a contract as a financing tool, which is a contract that allows the sale of a commodity that does not exist at the time of contracting, while payment can be made on spot or deferred basis.

[11:44:51 AM] OOTW: Purpose of Financing under Istisna'a and Back-to-Back Contracts: Given the mammoth changes in the volume and value of the projects necessitated by the development drives undertaken by governments or such other projects assigned to the private sector, and in view of the lack of liquidity and insufficient financing sources in addition to lack of expertise needed, a sore need has arisen for a new form of Islamic compliant financing.

Thus, Istisna'a became one of the sale contracts which could be used by Islamic banks to meet the needs and requirements of individuals and organizations which can not be financed through other sale contracts; Under Istisna'a financing contract, the underlying commodity is manufactured and the price is paid on forward basis or on installments, depending on the Istisna'a requester (the customer) and the consent of the manufacturer (the bank).

[11:45:31 AM] OOTW: SO THEY'RE GOING TO HAVE THE SECOND READING OF THE ISLAMIC BANKING ACT

[11:46:24 AM] OOTW: WHICH ENABLES BANKS AND ACCOUNT HOLDER AND ISLAMIC BANKING CUSTOMERS TO TRANSACT BUSINESS WITHOUT THE APPLICATION OF INTEREST OR VERY LOW INTEREST, IF ANY

[11:47:06 AM] OOTW: AND ARE GOING TO READ THE DRAFT "draft ratification Istisna'a loan agreement"

[11:47:32 AM] OOTW: WHICH WILL ALLOW SHARIAH LOAN TERMS TO BE APPLIED TO GOVT CONTRACTS

[11:48:27 AM] OOTW: SCZIN FOUND AN ARTICLE STATING THAT TOMORROW'S SESSION WAS GOING TO BE TO DISCUSS DRAFT LAWS AND WOULD HOLD NO VOTING..WE'LL HAVE TO WAIT AND SEE IF THAT PROVES TRUE, BUT AT LEAST THEY'RE GOING TO DISCUSS THE LAWS

[11:48:41 AM] OOTW: AGAIN, THE ABOVE AGENDA I POSTED IS FOR JULY 2

[11:50:07 AM] Sam: ‹@OOTW› passing thru this looks good right

[11:51:55 AM] OOTW: YES

[11:51:58 AM] OOTW: ABSOLUTELY

[11:53:40 AM] OOTW: PERHAPS THE ARTICLE WE SAY YESTERDAY STATING THAT THE "TRANSACTIONS FROM HOME" PROJECT HAS BEEN SLIGHTLY DELAYED IS IN PART DUE TO THE FACT THAT ISLAMIC BANKING ACT NEEDS TO BE PASSED SO THEY CAN PERFORM CURRENCY TRANSACTIONS UNDER THIS LAW

- I CAN'T SEE HOW THEY CAN WITHOUT THE ISLAMIC BANKING ACT, BUT WHO KNOWS, IRAQ DOES THINGS THEIR OWN WAY..WE'LL SEE

[11:54:55 AM] OOTW: I THINK THE FACT WE'RE SEEING THIS ON THE AGENDA FOR THIS WEEK IS A VERY GOOD SIGN THAT THEY ARE MOVING AHEAD WITH ECONOMIC REFORM –

THEY HAVE TO HAVE BANKING PROTECTIONS IN PLACE, INCLUDING SHARIAH GOVT BANK AND PRIVATE BANKING - THAT'S WHAT THESE "ACTS" DEAL WITH. ALSO WE STILL NEED THE DEPOSITORS INSURANCE - SO I'LL BE LOOKING FOR THAT

[11:55:18 AM] OOTW: IT'S ALL VERY GOOD...THIS IS THE KIND OF THINGS WE WANT TO SEE NOW

[11:55:43 AM] Sam: ‹@OOTW› Thanks.... haven't been able to be in here a lot the past few days but have a question

[11:56:10 AM] Sam: that article a few days ago about 2017 did you think that was legitate? that we have 2 MORE years

[11:56:19 AM] Sam: of course this is your opinion

[11:56:57 AM] OOTW: HON I DON'T GIVE THOSE ARTICLES CREDENCE - EVERY YEAR WE GET AN ARTICLE THAT SAYS "THIS YEAR" AND ANOTHER THAT SAYS "NEXT YEAR" AND SO ON

[11:57:01 AM] OOTW: JMHO

[11:57:19 AM] OOTW: ALSO

[11:57:39 AM] OOTW: KEYWORDS WAS THE PERSON ISSUING THAT STATEMENT (SUPPOSEDLY) AND WHO KNOWS IF HE'LL BE AT THE CBI STILL? LOL

[11:58:23 AM] Sam: i know...every year it seems we see the same things happening around the same time of year and up until now with the same results

[11:59:53 AM] OOTW: THIS IS THE LINK TO THE AGENDA'S AND MY CONDENSED POST/COMMENTS FOR ANYONE WHO WANTS TO POST wealthwatch.world/showthr...  :)

http://ift.tt/1T1YGqM

[12:00:25 PM] disciple7: ‹@OOTW› thank you

[12:00:34 PM] OOTW: SURE

[12:07:29 PM] OOTW: HERE'S ANOTHER LINK - SCZIN FOUND ANOTHER GREAT ARTICLE FOR THE AGENDA THREAD

[12:07:38 PM] OOTW: wealthwatch.world/showthr...

http://ift.tt/1R2e3Sy

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BLC Admin Tlm724 News & Comments 6-30-15

Morning News Comments 6/30/2015 LAWS !

The agenda of the session number (2) Thursday 2 July 2015

First, read verses from the Koran.       

Second: Hosting Mr. Deputy Prime Minister, Mr. Bahaa al-Araji, to discuss issues related to energy and electricity. (Only one hour).

Third: The first reading of the draft law on ratification of the Republic of Iraq to the Statute of the Council of the Arab Peace and Security Act. ( Committee on Foreign Relations , the Committee on Security and Defense ), (2 article).
~~~

Fourth: The first reading of the draft ratification Istisna'a loan agreement and the law of ratification agency Istisna'a between the Government of the Republic of Iraq and the Islamic Development Bank Convention on the Law. ( Foreign Relations Committee , the Finance Committee ), (2 article).

Fifth: the second reading of the draft law amending the compulsory insurance of car accidents Law No. (52) for the year 1980 ( the Finance Committee , for security and defense committee , the Commission on oil and energy and natural resources), (4 items).

Sixth: The second reading of the draft Islamic Banking Act. ( Finance Committee , the Committee of Religious Endowments and Religious Affairs , the Legal Committee ), (16 articles).

Session start time: one in the afternoon

http://ift.tt/1Hst4a5

[RCS1947]  Very Happy
  
[tlm724] so we have the second reading of the Islamic Banking Act and meetings back to back !

[tlm724] one session on the 1st and one on the 2nd

 [tlm724] *hallelujah*

[cstacy] thats great tlm724

[tlm724] cstacy indeed it is !

[tlm724] this is a good one too the law of ratification agency Istisna'a between the Government of the Republic of Iraq and the Islamic Development Bank

  [tlm724] not only all that but Jubouri is setting time limits " to discuss issues related to energy and electricity. (Only one hour)."

[tlm724] *slap* Jabber on the back , well done son !

~~~

Prime Minister Dr. Haidar al-Abbadi heads the regular session of the Council of Ministers

Cabinet held its regular Tuesday under the chairmanship of Prime Minister Dr. Haider al-Abadi, the Council agreed to grant allowances to employees of the federal police at their participation in combat missions in case of availability of appropriations.

The Council of Ministers approved a draft anti-money laundering law, and the financing of terrorism, which It is of great importance for his role in drying the sources of terrorism and to respond to international trends in this area.

The Council is also to proceed with the completion of the coverage of social protection field survey, to ensure accurate data base, and to ensure the inclusion of eligible.

and will announce the General Secretariat of the Council of Ministers decisions of the Council of Ministers in its forty-fifth session on Tuesday at a later time.

Information Office of the Prime Minister

30 June 2015

http://ift.tt/1Hst4a9

[tlm724] The Council of Ministers approved a draft anti-money laundering law

[tlm724] now we're talking

[soon]    Very Happy

[tlm724] this along with the second reading of the Islamic Banking Law on the 2nd makes me very happy !  Wink 

~~~

Abadi adviser: financial crisis a lesson for Iraq for the advancement of its economy and diversify sources of income

[tlm724] : financial crisis a lesson for Iraq for the advancement of its economy and diversify sources of income

[tlm724] you would think it would be a huge lesson !

[tlm724] Saleh said Tuesday that the government is seeking to diversify the investment of oil revenues to develop some types of manufacturing, agricultural and service sectors,

[tlm724] government is seeking to diversify the investment of oil revenues to develop some types of manufacturing, agricultural and service sectors, indicating that the lesson of Iraq's financial crisis for the advancement of its economy and diversify sources of income

[tlm724] better late then never, Shabs had all that laid out for you !

[tlm724] "Iraq is heading to the manufacturing, agriculture and services produced and not rely on oil."

[tlm724] that would be a free market economy

~~~

Shawki: the formation of a committee to investigate the WikiLeaks documents early next month

[tlm724] that is the formation of an investigative committee on Wikileaks documents early next month of July.

[tlm724] uh huh, should be interesting to see this one plays out ! Allawi and Maliki are implicated in the documents

[tlm724] that Committee of jurisdiction to come out with recommendations submitted to the House of Representatives to issue the appropriate decision.

~~~

Energy investment needs huge financial resources

[tlm724] Energy investment needs huge financial resources 6/30/2015 0:00 Dr. Ahmed Abrihi: oil supplier covers 10-15 percent of the costs of Baghdad - Imad Emirate indicate the oil ministry reports that the remaining recoverable oil resources are in the range of 197 billion barrels of estimated total reserves to 232 billion barrels of oil,

 meaning that the extracted accumulated is 35 billion remaining of them and reserves 116 000 000 000 in the south and 18 billion in the center near Baghdad, and 13 billion barrels in Western Sahara and 4 billion barrels in the north and these figures with liquid gas that is, they calculated Composting barrels equivalent.

[tlm724] the oil ministry reports that the remaining recoverable oil resources are in the range of 197 billion barrels of estimated total reserves to 232 billion barrels of oil

[tlm724] *wolfwhistle* holy oil reserves Batman !

[tlm724] service contracts and noted Abrihi that the Ministry of Oil plans, when implemented and through the general service contracts Specifically, lead to the lifting oil output capacity above 12 million barrels per day by 2020,

[tlm724] 12 million barrels per day by 2020

[tlm724] concluded, Iraq needs to invest substantial resources in the energy sector and its supplier of oil covers the amount to 10 percent to 15 percent of investment in the energy sector costs and there are no concerns about the feasibility economic development.

[tlm724] they will be booming if they do it right !


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Thoughts From FUZE at TNT: "Greece Default and the Subsequent Contagion May Force the RESET!"

FUZE:  Greece default and the subsequent contagion, may force the Reset!

We were all intrigued by the 2012 Bloomberg Interview on the coming global currency reset; when a financial expert was asked what keep's him up at night and he proclaimed the coming massive default or reset of the euro.

Well a Greece default and contagion may finally bury the stinking corpse of the euro. Rather this moment was contrived and engineered for a global reset or an evolved opportunity; a Greece default may be just what's needed as a forcing function for what we seek.  

I know a lot of my TNT friends have bought into the rhetoric about Greece being the bad guys and are a bunch of suicidal crazies. I can assure you, that's a lop sided view.
....

Just last night I was with an acquaintance from a smaller new EU nation. He carefully explained the dynamics of the situation in Greece and a number of other EU countries.

 Remember "confessions of an economic hit man" well it's in play here with a terrible twist and I can assure you that other EU nations are watching closely and are READY TO LEAVE THE EU!

One of the most balanced articles I've read on the Greece austerity situation and why it has failed, I included with this post!

What seems to have worked a LITTLE in Spain and Portugal, could not work in Greece; structurally different economies.

Either way out of necessity or fear, I think this may be the trigger we need. Enjoy the article and go look at the you tube video again from Bloomberg.

Welcome RI/RV   FUZE

**********

Investor Worry: Distorted Stock Markets

Bloomberg Video: 

http://ift.tt/1Iqb8NZ

http://ift.tt/1Iqb8NZ

See Article Below. 

Tim Worstal wrote an amazing piece in forbe's earlier this year that may shed some light on the reasons why the imposed austerity program didn’t work in Greece and yet marginally worked in other EU countries!

The Reason Austerity In Greece Didn't Work by Tim Worstal

One of the little puzzles of the past few years has been why was the reaction of the Greek economy to austerity so much worse than that of other countries? For it is true that other countries (I think particularly of Spain and Portugal) had the same sort of shrinkage of the government budget, had the same (entirely wrong and inappropriate) monetary and currency policies but they did much better. Or at least not as badly.

So what was the secret to that Greek economy that made the out turn so awful? And awful it is, Greece has had a fall in GDP akin to what the US had in the Great Depression of the 1930s. The answer, it appears, is that the underlying structure of the Greek economy is such that it just couldn’t take advantage of the meager benefits that austerity did provide.

The point is made in this NYT piece:

Greece has fared much worse than other euro-zone countries that faced a sudden drop in foreign financing, and then enacted similar austerity programs. It lost 26 percent of its G.D.P. from the pre-crisis peak, while Portugal, Ireland and Spain lost no more than 7 percent each. Much of this difference is due to foreign trade.

Yes, of course, there’s more to it than only foreign trade. But this is also a large part of the difference:

Finally, the size of companies in Greece is a fundamental structural issue. Industrial capitalism was never strong in Greece, which is a society of small owners and of microbusinesses. Land and homes belong mostly to their occupants, free of mortgage, more so than in any Western country. Self-employment and companies of fewer than 10 employees are much more prevalent than in any other European nation. Only 5 percent of employment in the whole economy occurs in companies with more than 250 employees. Even the main export industry, tourism, consists mostly of medium and small businesses.

Think it through as a macroeconomic story for a moment. So, austerity might not be the best policy in the first place. And being tied into a currency and monetary policy entirely inappropriate also doesn’t help, to put things mildly. However, when there’s vast unemployment, as has happened, then wages are going to fall, as has also happened. At which point exports should pick up: it’s now cheaper for foreigners to purchase the products of Greek labor. At which point some of that lost GDP should start to come back.

However, that macroeconomic solution does depend upon the microeconomic structure of the economy itself. And a vast morass of small firms with very few large ones is just not going to be conducive to increasing exports. Simply because small firms tend not to export nor have the ability to start doing so. So while the wage and productivity issue might have been dealt with the country simply cannot take advantage of that fact. Thus Greece is stuck.

There’s one other thing we can say about this too. Which is that if this is the reason for the ongoing problems then being out of the euro won’t in fact help all that much. For the point of being out of the euro is that one could have devalued the drachma to achieve that same reduction in export wage rates.

But if the economy simply isn’t able to increase exports, just because it doesn’t have companies capable of exporting, then that’s not going to help much.

Thus the end answer is that Greece really does need structural reforms in or out of the euro. And those, sadly, take time.

SparkyOne:  FUZE~

Thank you for this comprehensive report. It sure gives a much better picture of the TRUTH, not to mention how Greece was set up to be vilified for no fault really of their own.

People who don't spend time in Greece, or have friends there, do not really know the truth...they just spout rhetoric and mimic PAID talking head's and authors of deceptive articles.

Here is another piece of rather SHOCKING TRUTH (except from long article "A humanitarian tragedy imposed on Greece" Special to The BRICS Post June 20, 2015, 6:12 am) which may be of interest to the readers of this thread.

The EU wants to send a strong message not just to the Greek people, but also to Spain.
Spain is not a tiny economy in the EU. The idea that Spain might also elect an anti-austerity government come November is unacceptable. Therefore, Athens must be humiliated and defeated.

The Greek parliament has installed a committee of experts to establish the constitutionality of the Greek debt. On June 17-18, Eric Toussaint, head of this committee, presented preliminary findings. The hypocrisy is astounding .

Here is what the inquiry found (in a nutshell). The Greek financial situation in 2009 was bad enough, but not much worse than other countries.

The situation of the Greek public debt was purposely dramatized for entirely different reasons. The private banks in Greece were on the verge of collapse and were going to take down several French, German and Dutch banks with them.

The committee found reports and documents to corroborate the conclusion that the EU decided to sacrifice the Greek state budget to save these European banks.

The IMF in an internal report of March 2010 knew already that the conditions of the 2010 memorandum for the loans to Greece would lead to a social blood bath, and to a collapse of the economy.

They knew that the loans were unsustainable, as confirmed by the facts five years later.
Then head of the IMF Dominique Strauss-Kahn – hoping to become president of France – hoodwinked his own board of directors to accept the loans to Greece.

The EU blackmailed the Greek parliament to vote an 800-page memorandum within 24 hours of receiving it or the ECB would terminate liquidity assistance.

Toussaint’s conclusion: the Greek debt is illegal, illegitimate and odious. More details will follow in the coming weeks.

There is near complete media silence about this all over the EU.

Opa! Welcome RV & GCR! We are on the right road now!

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News, Rumors and Opinions Tuesday Morning

Early Tuesday AM:

TNT:

Iko Ward:   ISX dropped another 5 points and is sitting just above 1000. So that's two big drops in thew last two days, matching our own stock exchange. Forex climbed to 1120 during the night but as we know now that means little. So I'm waiting for CL to do her thing. Hope you all are having a wonderful day.

Airam:  Today is JUNE 30th.......last day for ABADI to keep his word.......he asked ppl to wait until JUNE.......lol....lol

Maximus016:  Well, the markets were anything but smooth yesterday. Global Equities took a $1.5 TRILLION bath yesterday.

Tbirdd:  max-----theyll probably iron-out.... since theyre waiting on it to be smooth.. (?)

Maximus016:  Tbirdd, possibly. But I feel it is more of a stabilizing factor within the markets. The Asian markets all closed in the black today, so we shall see.
....

Iko Ward:  Maximus, that is good news. Probably why Forex looked good as well.

Maximus016:  Hopefully, we have weathered the worst part of the global financial storm. The markets simply cannot continue to hemorrhage at the pace we witnessed yesterday.

Iko Ward:   ISX also scrolling announcement of money transfers beginning Thursday

Maximus016:  It is also coincidental that without warning, Puerto Rico revealed yesterday they have a debt crisis of $72 BILLION. That is quite a bombshell, considering that nearly a year ago, Governor Padilla said Puerto Rico was doing well financially….. We have two (Greece and Puerto Rico) economic Tsunami’s and they are the perfect diversion for the Global Currency Reset.

Mangelo:  let's see how the market goes today? and let's hope for the announcement!

Dawg:   I guess I'm confused on the Greece issue....So if they default like they say they will what repercussions does this have on the RV?

JackS:  dawg i think the Greece issue, ie global reactions, is like a speed bump in a parking lot....no biggie....everybody knows they are gonna ride up on one… the markets seem to have already pre-adjusted and they seem to be favorable

SUGGAR:  I think that Greece is holding for the reset in hopes that they would have less requirements to meet

JackS:  I also think the RV is like that USA insurance commercial, Allstate, I think....there is a small water drip in the ceiling that the brother is concerned about...(hints that something is gonna happen) and then Wham...the flood gates open...."THAT's a LEAK" :) I think the RV will be upon us just that way!

Maximus016:   Chinese stock market has BIGGEST intraday swing since 1992.

Mazimus016:  Hot off the press.....Greece asks for a 2-year bailout program. Tsipras may be reconsidering Juncker offer.

Vinterv:  Maixmus...shocking, eh? They need to get er done!!!!

Maximus016:  Vinterv...somewhat. This 'planned accident' has been in the making for quite some time. The markets simply cannot continue to hemorrhage at the pace we witnessed yesterday.

DKenner:  "The Truth About the Currency Wars." Preparation is the key to progress and victory. While the Fed and other Western central banks have pushed countless amounts of currency into the world's financial system, emerging market nations are preparing themselves for the day when the worlds currency system is reset.

Iko Ward:  Worth a second mention...ISX is scrolling about international currency transfers on Thursday.

CODreamer:   Positive talk leads to positive results - the RV is in process - look all around you, it's coming - be ready, but live your life each day. All of a sudden it's going to BAM surprise us!!!

*******************************

GET:

Topic: It's never what you say, but how you make it sound sincere. Marya Mannes

[arizona49] 6/30/2015 Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open >>>>>

While things have normalized since the open thanks entirely to the SNB's aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS' report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what happens if and when the SNB, and then the ECB itself, finally lose control when as a result of the Greek crisis the contagion promptly spread a few hundred kilometers west to Italy where as the WSJ reported, "several Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most.

" As the paper reported sales orders on Italian stocks, in particular financial stocks, piled up before the market opening. At the start, the sales orders were so numerous that the system couldn't manage to process them, something that often happens when specific news causes a sell-off on a stock. Theoretical prices for Italian banks--the prices at which they would have started trading--hovered around losses of 8% to 10% at the beginning of the trading session   http://ift.tt/1eel6pp

Late Monday Night:

GET:

Topic: Thought is the wind, knowledge the sail, and mankind the vessel. Augustus Hare

[arizona49] Washington (AFP) - Greece could take a risky step into the unknown Tuesday if it misses, as expected, a 1.5 billion euro ($1.7 billion) debt payment to the International Monetary Fund.

Related Stories IMF says it expects Greece will make June 30 payment AFP Out of patience, IMF flexes muscles in Greek debt crisis AFP IMF’s Lagarde: Still open for discussions with Greece MarketWatch IMF:

Greece would immediately be in arrears if it misses June 30 payment MarketWatch IMF's Lagarde says still time for Greece to change course: BBC Reuters Already on its second IMF crisis bailout program, if Athens does not make the payment it would immediately be cut off from access to Fund services and facilities.

 It could also theoretically be placed on track for expulsion from the IMF. But only one country in IMF history has been kicked out: Czechoslovakia, during the Cold War in the 1950s. That prospect though would likely take time to play out, under IMF procedures, and give Greece and its creditors time to right the situation.

 Greece has borrowed about 32 billion euros from the global crisis lender since 2010, some of which has already been repaid. It is committed to repay the IMF 5.4 billion euros this year.

READ IN FULL: http://ift.tt/1IJXMbc

**************************

TNT:

LocoFelipe: This is JUST MY OPINION.... But I believe we have smooth sailing from here on. ride the wave folks. cause we are about to see this!!!

Eurozone dropped 4.2%..... german/ dropped 3.5%..... and the french dropped 3.7%.... frankly, I am completely surprised it was this good. I am thinking no one was surprised with the greecian walk out

hong kong dropped - 2.6% and japans dropped 2.8%... Dow- down/1.95%---- S%P/ down 2.09%----- nasdaq/down 2.09%......

I am thinking it was a surprise on the good side. was expecting it to be much worse (I was).... all the peoples I have talked to are thrilled with those numbers

I am no intel guru.... but I study markets and trends..... now would be a perfect time to pull a rabbit out of the hat. no one would even see it. over the past two years we have had multiple oportunities presented.... this -in my opinion- is about as good as we have gotten. this week is perfect. JMO

JackS:  locofilipe it all has a feeling of positivity to me too...

LocoFelipe:  JackS- yes, I have been looking all evening at the numbers. and the articles.... we are in a great spot.

JackS: With all the moving parts in play right now, it would be a snap to pull it off....most of the world wouldnt even notice

LocoFelipe:  JS- absolutely correct.

LeaLoha:  mini bank story - went to WF today to get a wire transfer....the manager said it's $50! We started chatting....I said you know I've been buying a lot of dong through your bank, etc. Guess what - no fee!..... strange thing about WF selling Dong is that they won't tell me what it's showing on the screen - or that it's just blank and not showing Vietnam at all = that's pretty strange, right?

LocoFelipe:  leahola---- well, today I was there.... didn't ask to see the screen. and they didn't offer... but friday, it was on the screen with admin hold

Lealoha: loco = whoa~~now you're talking!!

************

RayRen98:  Secrets of the Millionaire Mind - FREE PDF Version

Secrets to the Millionaire Mind by T. Harv Eker     http://ift.tt/1g6Vr3i

 

 

 

 

 

 

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