| Word on the Street Saturday 2/24/18 TWEET SENT This is Tony. I wanted to give you guys some good news, which there is plenty but I think this message is so more important than anything I could say today. https://www.youtube.com/watch?v=Bg_Q7KYWG1g&sns=tw … via @youtube
Word on the Street Saturday 2/24/18:
Forex Rates:
Closing rates Friday night
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DC NY Iraq Articles:dd
Deputies: Tuesday the last hope for the budget, and others reveal the addition of new proposals
24/02/2018 10:56
Trend Press / Baghdad MP on the National Alliance Ali al-Badiri, on Saturday, that "the dispute over the federal budget law is still standing, between" the last hope for the budget is next Tuesday, and if it did not pass will remain stuck. Badri said that "the dispute over the federal budget law is still in place, and there are blocs seem to insist on not passing the budget only after the approval of the demands, and this in itself a problem. He stressed that "it is difficult to agree on some of the demands, pointing out that" the last hope for the budget is next Tuesday, and if not pass will remain stuck. ]He explained that "next week is the last days of the current parliamentary session, and then the deputies will move to arrange their situation in preparation for the upcoming elections, because the Commission has identified the regulations and series, and this means that the current session is over. For its part, revealed the Committee and the displaced and the nomadic parliamentary, on Saturday, "the addition of a proposal within the budget this year, including the grant of one and a half million dinars for each displaced family return, as well as a proposal to return members of the security forces renewed contracts to service . Committee member Nahla al-Hababi said in a statement that "the Finance and Migration Committees agreed to raise the proposal to grant each family returning to the liberated areas a million and a half million dinars to contribute to the stability of the regions . "The proposal came within the initiative of the Union of Forces to pass the budget to increase the pace of return of displaced persons before the elections and improve the living conditions of citizens . She explained that "the proposal was submitted to Prime Minister Haider Abadi, as well as the lifting of another proposal includes the reinstatement of the retired security forces employees contracts to service during the current year. The Council of Representatives intends to hold its meeting next Tuesday to pass the federal budget for 2018 after having seen a failure in the adoption during the last sessions because of the lack of quorum due to the absence of representatives of the Kurdish opposition to 12% as a financial share of Kurdistan of the budget in addition to the objection of the Sunni blocs on allocations Displaced families and areas liberated in the public budget.d
Standard & Poor’s: Confirm Iraq’s rating at “B- / B” with a stable outlook
February 23, 2018
Standard & Poor’s Ratings said it affirmed Iraq’s rating at B- / B with a stable outlook. The agency said a stable outlook reflected expectations that the fiscal deficit will be modest over the next few years, Reuters reported. She said she expected the prospects for Iraq’s economic growth to be under pressure from political tensions at home, production quotas imposed by the OPEC agreement and restrictions on government spending. The agency said it expected Iraq’s GDP to grow 1.9 percent in 2018 in line with production cuts in 2017-2018 before rising 2.5 percent in 2019 as oil production recovers.d Washington warns Iraq against buying S-400
The US State Department has warned the Iraqi authorities and other countries of the consequences of concluding deals to buy Russian weapons under the CAATSA.
In a response to a question about the possibility of Baghdad acquiring the Russian S-400 air defense systems, US State Department spokeswoman Heather Neuert said that "the United States is talking to many countries, including Iraq, to explain the meaning of the law Mentioned and the possible consequences for these countries to hold defensive deals with Russia ».
"I do not know whether the deal was signed between Iraq and Russia on S-400 systems or not," she said. China was the first foreign buyer of that defense system from Russia under a contract signed in 2014. Russia signed an agreement to supply Turkey with missile defense systems of the same style late last year.
Baghdad Rejects Reports of Withdrawal from Kirkuk
ERBIL — Iraq’s War Media Cell has refuted reports about sudden withdrawal of some Iraqi army units from areas in Kirkuk province in fear of possible Islamic State (IS) attacks.
It said in a statement that the reports claiming Iraqi federal forces and other armed troops have pulled back from Kirkuk are untrue.
The statement comes after various media outlets reported a sudden withdrawal of Iraqi forces and pro-government militias after being attacked by IS sleeper cells in various locations.d
Kirkuk: IS Again Ambushes Hashd al-Shaabi Militiamen
KIRKUK — Jihadists of the Islamic State (IS) on Friday ambushed a group of Iranian-backed Hashd al-Shaabi militiamen in Kirkuk province, killing and wounding several fighters.A security source confirmed to BasNews that the Hashd militiamen fell into the ambush in an area located on the road connecting Kirkuk and Hawija.
BasNews has learned that one Hashd al-Shaabi fighter was killed with three others wounded.The source said after the recent IS attack, Hashd al-Shaabi is planning a military reinforcement to Kirkuk as part of preparations for a new military operation agains the remaining jihadists in the area.
Earlier this week, IS jihadists dragged a unit of Hashd al-Shaabi into another ambush near Hawija and killed 27 militiamen immediately
Source: Security forces will carry out a large-scale security crackdown in Kirkuk
00:10 24/02/2018
KIRKUK / A senior security source in Kirkuk on Saturday, the implementation of a security campaign in the outskirts of Kirkuk, including judicial.
"The federal and local units will carry out a large-scale security operation in the district of Dibs and Alton al-Kubri district under warrants of judicial arrest issued by the Central Investigation Court against a group of persons who provided support and support to terrorists and foreign armed organizations," the source told Al-Ghad Press.
The source, who spoke on condition of anonymity, said that "the campaign will be attended by various security units located in Kirkuk and will be implemented very soon."
d
Kauaihn Iraq Articles:dd
Officially announces ... United States Our troops remain in Iraq for "indefinite" and reason
24-02-2018 01:08 PM
Baghdad News -
US officials have confirmed that their forces in Syria and Iraq will remain "indefinitely" to prevent their war on American soil, following recent statements that a daunting defeat does not mean the end of it and that some of its fugitives from Iraq and Syria could threaten US interests in the region.
President Donald Trump told congressional leaders from both parties that he did not need a mandate for US troops to stay in areas in the Middle East, where White House officials said that "the constant threat from Da'ash provides us with a legal explanation to keep our troops in Syria and Iraq indefinitely '.
"As in the past, we withdrew our troops ahead of time, and the problems are complicated," Deputy Defense Secretary for Political Affairs David Trangberg said in a letter to Congress after questions about the date of the withdrawal of US forces from Syria and Iraq. "We are waiting to repeat this, Control over the areas he controlled, or some of them '.
"We are not looking for an argument to fight the Syrian government or the forces that Iran supports in Syria, but at the same time we will not hesitate to use the necessary force," Assistant Secretary of State for Legislative Affairs Mary Waters wrote in a letter to congressional leaders. , To protect our forces there, coalition forces, and partner forces that are working with us to defeat the Al-Qaeda and reduce the influence of al-Qaeda.
"The insistence of President Trump and his senior officials on the legal argument to keep US troops in Iraq and Syria is only a weak argument over a weak argument," said Harvard law professor Jack Goldsmith. d
Jubouri: Iraq seeks to return to its pivotal role in Arab issues
Saturday, 24 February 2018 12:00 pm
BAGHDAD (Reuters) - Iraqi parliament speaker Salim al-Jabouri said on Friday that Iraq is seeking to return to its pivotal role in Arab issues, expressing the hope that Saudi Arabia will participate in the reconstruction of Iraq and the rehabilitation of its infrastructure .
Al-Jabouri said during his meeting with the Saudi media delegation, which includes several editors-in-chief and representatives of Saudi newspapers and media, that Iraq is seeking to eliminate a terrorist organization to achieve economic growth that strengthens its regional standing .
He added that "strengthening relations with neighboring countries and the region, first and foremost Saudi Arabia will contribute to accelerate the achievement of these goals, and will provide opportunities for our countries to achieve bilateral interests at the level of trade, energy, investment and wealth in various forms," pointing out that "Iraq is on the reconstruction And the rehabilitation of its infrastructure, and we hope that the Arab participation in general and Saudi Arabia in particular are present in an excellent manner . "
For their part, the Saudi media delegation expressed its happiness to visit Iraq and meet with the Speaker of the House of Representatives, hoping that bilateral meetings and dialogues will continue in various fields to increase the bonds and deepen brotherly ties between the two.
French President Urges Iraq to Solve Erbil-Baghdad Disputes Before Federal ElectionsSudan: Iraq is witnessing a qualitative shift towards a market economy
Saturday, 24 February 2018
Baghdad / Al-Sabah
The Minister of Labor and Social Affairs Mohammed Shiaa al-Sudani said that Iraq, having achieved victory over terrorist gangs, is witnessing a qualitative shift in its policies towards a market economy.
"The government has embarked on a package of economic reforms to support the private sector and create an attractive environment for investment," Al Sudani said during a speech at the Islamic Conference of Labor Ministers held in Jeddah, Saudi Arabia.The minister added that "the Iraqi society's awareness of its religious groups and institutions and its armed forces contributed to the restoration of the bitter reality resulting from the wrong policies and previous regimes that affected the factors of growth and recovery. He pointed out the preservation of the landmarks of the population map and the cultural, material and cultural heritage, Sabotage, killing and displacement ". "The Sudanese Ministry of Labor and Social Affairs and its supporters have begun to pay attention to issues of poverty and unemployment through the enactment of new laws." He added that "the ministry has developed many programs, including dealing with unemployment, such as the provision of soft loans for young people to establish small income-generating projects, find jobs through entrepreneurship in coordination with international partners, as well as protect workers from risks and occupational diseases through the dissemination of culture of health and safety Sinjar Arabs are asking the Iraqi government to return them to their areas
Feb 24, 2018
Mosul - Al-Quds Al-Arabi: A number of Sinjar residents called on the Iraqi government to allow them to return to their liberated areas and to provide security protection for fear of being attacked by Yezidi militias.
The displaced said that "there is a plan for the removal of the judiciary, and the villages belonging to him of the Arab component on the pretext of belonging to the organization of the state." They called for "international intervention to stop these demographic changes that target them even before the organization took control of the judiciary three years ago." AbdulRazaq, a resident of Sinjar, told al-Quds al-Arabi that "these demographic change processes were continuing even before the state organization entered the judiciary and controlled it." There are Arab villages that were cleared from the land by bulldozers and houses were blown away. According to the source «all these violations were getting in front of the eyes of the Iraqi government, which could not prevent them, when Sinjar was under the control of the Kurdish Peshmerga». "There are thousands of Arab families who have become homeless and most of them are accused of terrorism on malicious charges and will not be able to return to their homes for fear of being liquidated or arrested." He pointed out that «the judiciary and its villages under the domination of the Yezidi militias, most of which operate outside the control of the state and conducts ongoing violations against the Arab component». He called on the Iraqi government to "intervene immediately to stop these violations and allow the Arab population to return to their villages and to exercise their daily lives and provide protection for them." Abu Taha was forced to leave his village during the fighting between the Peshmerga forces and the organization «State». After the fighting ended and the Kurdish forces took control of the village, and with it Yazidi forces, they were prevented from entering the village. "They told us that we Arabs are no longer available to us in these areas, completely denying that he or one of his sons is a member of the organization," he said. "There is a desire not to return all the Arabs to their areas." He stressed that his village now "under the control of the forces of the Azzids refuses to return any Arab family, and they have bombed many houses belonging to the Arabs." "The fate of many families is in danger, where most of them live in the camps, and will stay there as long as the Yezidi militias refuse to return." He told residents «a number of deputies and officials in Nineveh, but did not solve the problems or even addressed in parliament». Abu Hammam, who is also a Sinjar resident, said that "the militias have arrested his son and he has not yet known his fate." "These militias have committed horrendous violations against the Arabs since their control of their villages so far, as well as looting and dispossession of property, while entire villages have been razed," he told Al-Quds Al-Arabi. He called for "ending the violations and bringing in regular forces to take over the security file in the city and to end the role of the militias that continue to carry out their crimes and violations against the Arabs, where these areas are totally empty of Arabs. They accuse us of being with the organization in order to prevent our return to our homes, There are houses that did not explode. " According to observers, the province of Nineveh in northern Iraq, the demographic change processes organized by some militias belonging to the religious minorities and ethnic in the city, after the last restoration of the control of the "Islamic State" in July last year, and the dominance of these militias on important areas and the practice of killings And ethnic and religious cleansing against civilians d Iraq will continue to repay Kuwait's debts until 2021
After resolving 85 percent of outstanding issues between the two countries ...
Kuwaiti Deputy Foreign Minister Khalid al-Jarallah said on Friday that Iraq will continue to pay the debts of Kuwait until 2021, noting that 85 cases between the two countries have been resolved.
Asked about the Iraq reconstruction conference and the pledge of $ 2 billion and whether it was related to Iraqi compensation, Al-Jarallah was quoted as saying that "compensation is nothing, payment is something, and commitments at the Iraq Reconstruction Conference else".
Explaining: "We sat with the Iraqis and with the United Nations, and agreed on the payment mechanism, and embarked by Iraq, and will end in the year 2021."
Pointing out that "the issues that are still stuck between Kuwait and Iraq are simple, 85 percent of which were resolved within the framework of the Security Council resolutions, leaving very few (prisoners, property and maritime borders after point 62
Kauaihn Economic Times:
ECONOMIC TIMES / CHATTER
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GLOBAL/NEWS/INFO
Bill Gates doesn't have 'extravagant tastes' but here's how he has splurged Billionaire Bill Gates shares his "indulgences" with TV host Ellen DeGeneres. Your credit score is an important measure of your financial health, and if it's not great yet, you can make it better.
Read more: https://www.cnbc.com/2018/02/
In an exclusive interview with Suzy Welch, the former NFL player speaks up on how he pushes past the noise to accomplish his dreams.
Read more: https://www.cnbc.com/2018/02/
Former NFL quarterback Tim Tebow says love, passion and sacrifice are the three qualities of a natural leader.
OIL/COMMODITIES/ENERGY
Oil on track for second consecutive weekly rise MarketWatch
Crude-oil futures Friday morning edged lower, but looked set to market a second straight weekly advance, as bullish inventory reports underpin bullish sentiment. Read the full story
Crude Oil Prices Mixed After Positive U.S. Supply Data
Investing.com
© Reuters. Oil prices mixed but still supported as traders digest U.S. inventories data Read the full story
Oil weighed by US crude exports; lower crude stocks prevent bigger fall
Oil prices dipped on Friday as high U.S. crude exports outweighed lower crude inventories in the world's biggest consumer of the fuel.
Gold heads for worst week since early December on dollar strength
Gold prices slipped on Friday and were headed for their sharpest weekly drop in 2-1/2 months as the dollar strengthened during the week.
Gold is nearing what could be an ultra-bullish key level
CNBC
Matt Maley, equity strategist with Miller Tabak, is eyeing a key level in the gold chart. Read the full story
A Department of Defense memo to Commerce Secretary Wilbur Ross supports the findings from Ross that steel and aluminum imports impair U.S. national security. Read more: https://www.cnbc.com/2018/02/
BANKS/BANKING/CREDIT
Paytm Score To Give Credit Rating Based On Digital Transactions Inc42
In line with Indian banks’ credit scoring instrument, CIBIL Score Paytm is now introducing its own credit scoring product Paytm Score. Unlike CIBIL Score, which takes into consideration an individual’s credit history, the fintech company will now give the users on its platform a rating based on their digital transactions online. The initiative aims to strengthen Paytm’s lending vertical. Paytm entered into credit segment after acquiring online lending startup CreditMate in November 2017. It has Read the full story
RBS reports first profit in 10 years
BBC News US
The taxpayer-owned bank has made an annual profit the first time since the financial crisis. Read the full story
CNN Money
RBS reported a profit, but investors are worried about its looming toxic mortgage fine. Read the full story
The First National Bank of Omaha said Thursday it will not renew a contract with the National Rifle Association to issue its NRA-branded Visa credit card.
Read more: https://www.cnbc.com/2018/02/
Credit markets are next spot to watch for a potential crisis, Barclays CEO Jes Staley told CNBC on Thursday.
Read more: https://www.cnbc.com/2018/02/
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Barclays pays female investment bankers half as much as men
European Central Bank could revisit its monetary policy 'early this year,' minutes revealNew York Post One of the biggest banks on Wall Street on Thursday has unveiled an eye-popping pay gap. Barclays, run by Chief Executive Jes Staley, pays its female investment bankers about half of what it pays men in the same unit — underscoring the lack of women in senior positions. On average, Barclays female investment bankers make 48 percent of their male counterparts, the company said in its annual report on Thursday. UK banks, under a new law, are required to disclose pay disparity. The report also Read the full story The euro rose to a day's high on Thursday shortly after the ECB released minutes of its January meeting.
Read more: https://www.cnbc.com/2018/02/
Swiss Re reported better-than-expected annual net income on Friday despite huge claims during a disaster-heavy 2017. Read more: https://www.cnbc.com/2018/02/
TREASURIES/BONDS/STOCKS
Top 5 Things to Know in the Market on Friday
Investing.com © Reuters. Top 5 Things to Know in the Market on Friday Read the full story
Wall Street Optimism Returns, As Correction Seems Like Blip
Investing.com
Stock Markets Feb 23, 2018 12:46 GMT Investing.com - Just weeks after the stock market correction, Wall Street firms are sounding bullish about stocks again. JPMorgan Chase (NYSE:JPM) reiterated its 3,000 price target for the S&P 500, saying its not the time to sell stocks. The firm also said that rising interest rates do not pose a risk to stocks at this point, adding that there had been some over-reaction to inflation headlines. BlackRock recently said it was bullish on stocks because the Read the full story
The big one hasn't hit yet — why this bear sees the February correction as foreshock
Former Prudent Bear Fund manager David Tice sees stocks falling 20 to 25 percent this year.
Read more: https://www.cnbc.com/2018/02/
U.S. debt yields fell from Wednesday'smultiyear highs after the Federal Reserve's latest minutes showed that the central bankers expect economic growth. Half of investors think equities have peaked, according to a new report out Thursday. As a result, they’re turning back to hedge funds. Read more: https://www.cnbc.com/2018/02/
INSURANCE/HEALTH
How to reduce premiums if you are a younger driver BreakingNews.ie
John Hearne offers some essential steps which younger drivers can take to help bring their motor insurance down to a more realistic level. If you’re a young driver, there are three steps that you can take which when taken together can help you reduce your motor premiums by as much as 80%. Get a full licence Complete all the required driving lessons and get some named driver experience and get a full licence. Jonathan Hehir is MD of Coverinaclick, an insurance broker who specialises in insuring Read the full story
Internists Concerned New Insurance Rule Will Increase Premiums, Destabilize Insurance Market
A Brain Protein from 'Young Blood' Could Be Key to Improved MemoryInsurance News
WASHINGTON , Feb. 22 -- The American College of Physicians issued the following statement by xx, yy on zz: Statement attributable to: Jack Ende , MD, MACP President, American College of Physicians The American College of Physicians (ACP) is concerned about the government's proposed rule to allow Americans to purchase extended, short-term, limited-duration health insurance plans. ACP believes that the proposal will harm patients by destabilizing the Affordable Care Act's (ACA) individual Read the full story
UCSF
Loss of an enzyme that modifies gene activity to promote brain regeneration may be partly responsible for age-related cognitive decline, according to new research in laboratory mice by UC San Francisco scientists, who also found that restoring the enzyme to youthful levels can improve memory in healthy adult mice. If the results translate to humans, the researchers say, it could lead to new therapies for maintaining healthy brain function into old age. Read the full story
Romper
Vaccination remains one of the most polarizing topics in parenting, which is really saying something when you consider how passionate parents tend to get about their children. Many parents want their children to be immunized against communicable dise… Read the full story
Antibiotic can kill if you have heart disease, FDA says
NBC News Clarithromycin can kill even years later, FDA says Read the full story
CRYPTO'S / DIGITAL CURRENCY
8 Facts You Didn't Know About Bitcoin The Motley Fool
Here are some things that even longtime fans of the cryptocurrency may not know. Read the full story
MarketWatch
For the second straight day, cryptocurrencies are on the back foot with all major digital currencies in the red Thursday. Read the full story
FORTUNE
In this photo illustration, a visual representation of digital cryptocurrencies, Bitcoin, Ripple, Ethereum, Dash, Monero and Litecoin is displayed . In the past, when cryptocurrencies such as Bitcoin have split in two, it was as if money fell from the sky. Take Bitcoin’s August fork, for instance. Mathematically speaking, one split in half results in two halves. But instead of adhering to that set of logic, that particular fork resulted in one plus a little extra. So while the price of Bitcoin Read the full story
CNBC
Hosp has explained why a potential cryptocurrency bubble could burst in 2018, but these factors are keeping him invested in the space. Read the full story
Bitcoin crashes below $10k as euphoric rally peters out
MarketWatch For the second straight day, cryptocurrencies are on the back foot with all major digital currencies in the red Thursday. Read the full story
CURRENCIES
Dollar holds to modest gain as Fed officials line up to speak MarketWatch
The U.S. dollar edged up against some major rivals Friday, helping to keep a gauge of the greenback’s performance on course for a weekly win, but the market will look for further clues about the path of borrowing rates in remarks by Federal Reserve officials. Read the full story
Forex - Dollar Index Continues to Rise on U.S. Optimism
Investing.com Dollar remains supported by data, Fed minutes Read the full story
Euro predicted to surge this year as ECB unwinds its massive stimulus program
CNBC
The euro could hit $1.30 in the next 12 months as the ECB unwinds its stimulus, growth continues and political risks dissipate, analysts told CNBC. Read the full story
Pound V euro: GBP exchange rate up 0.3 per cent after Brexit talks at Chequers
Express
THE pound to euro exchange rate has made moderate gains today, with Sterling also advancing by over 0.4 per cent against the Australian dollar and the New Zealand dollar. This GBP advance follows marathon eight-hour talks between Theresa May and senior ministers at the PM’s country retreat of Chequers. While clear details on the meeting have not yet materialised, the general attitude of those close to the talks is that they were constructive and productive. Read the full story
Rupee opens higher against US dollar on Asian cues Livemint
Mumbai: The Indian rupee on Friday strengthened against the US dollar, tracking gains in its Asian peers. Read the full story
Dollar edges up against yen as risk appetite returns
The dollar edged up against the yen and other currencies on Friday, trimming earlier losses.
Read more: https://www.cnbc.com/2018/02/
China is letting the yuan crush the dollar — Trump is just one reason why
The Chinese yuan is hovering around two-year highs against the dollar as Beijing props the currency up to appease Trump. Read more: https://www.cnbc.com/2018/02/
USA/CANADA
When ‘Married, Filing Separately’ Lowers Your Tax Bill The Wall Street Journal
The rarely used “married, filing separately” tax status is a boon for the few Americans who choose it each year. More will likely join that club in 2018. Read the full story
Running the economy hot
The Economist
WHEN should policymakers stop stimulating an economy? America’s unemployment rate is 4.1%. At such a low level, the Federal Reserve, the central bank, would normally expect inflation to rise. In 2017 the economy grew by 2.5%, spurred by falls in joblessness that cannot go on forever. Read the full story
Next up for markets: New Fed Chair Powell weighs in on the interest rate debate
CNBC
Market pros are hoping Fed Chair Jerome Powell will step in as referee in the violent tug of war between bonds and stocks. Read the full story
EMERGING MARKETS
Netizen Report: Mexican NGOs Push for Independent Investigation of Malware Attacks · Global Voices
Global Voices Online
Cartoon by Doaa Eladl via Flickr, Web We Want ( CC BY-SA 2.0) The Advox Netizen Report offers an international snapshot of challenges, victories, and emerging trends in Internet rights around the world. The Mexican government has failed to investigate allegations that government agencies used surveillance software to infect the smartphones of journalists and human rights advocates in the country, according to an official statement from groups affected by the software. In June 2017, a group of Read the full story
My San Antonio
NEW YORK - Hurricane-induced economic turmoil in Puerto Rico and the U.S. Virgin Islands is not likely to be as severe or long-lasting as the financial damage New Orleans suffered after Hurricane Katrina, even though tens of thousands of residents have fled the islands, creating uncertainty about their financial future, economists at the Federal Reserve Bank of New York said Thursday. Read the full story
Illinois boy's generosity leads to power being restored at Puerto Rican school
Puerto Rico asks a DC university to review possible Hurricane Maria deathsFOX 2 News St. Louis - KTVI
RIO GRANDE, Puerto Rico - A little boy from Illinois is being hailed a hero in Puerto Rico. The kindness of Avery Huddleston, 7, led to a bigger surprise than anyone imagined at a school in the city of Rio Grande, Puerto Rico. For his seventh birthday, Avery collected school supplies for kids in Puerto... Read the full story
Watch: New York Fed's Dudley speaks on Puerto Rico's economic outlook The New York Fed President will join a panel of economists to talk about the economic conditions in Puerto Rico and the U.S. Virgin Islands CNN
Puerto Rico Gov. Ricardo Rosselló announced on Thursday that the island has hired George Washington University to review deaths following Hurricane Maria. Read the full story
MIDDLE EAST
Iran becomes latest rogue state to develop its own cryptocurrency Iran is considering the development of its own cryptocurrency, following the footsteps of Venezuela. Both countries are the focus of U.S. sanctions. Al-Monitor
A government-promoted push for the "native and national" in almost every realm has reached the sphere of cryptocurrency despite Turkey's lingering mistrust of bitcoin. Read the full story
Saudi Arabia Plans to Invest $64 Billion to Build an Entertainment Industry
FORTUNE
A picture taken on February 11, 2018 shows a foreign labourer working outside the main entrance of the Ritz Carlton hotel in the Saudi capital Riyadh. Saudi Arabia is preparing to pump $64 billion into its nascent entertainment industry as part of Vision 2030, the social and economic reform program spearheaded by Crown Prince Mohammed bin Salman. Construction is already underway on an opera house in the capital Riyadh, and the country plans to host 5,000 entertainment events this year, the BBC Read the full story
AFRICA
For clean drinking water in Kenya, just add sunshine (and a can) Thomson Reuters Foundation News
"There is nothing that makes any woman happier" Read the full story
Zimbabwe: Corruption Will Not Be Tolerated - Minister Mpofu
AllAfrica
Home Affairs minister, Obert Mpofu says the new political dispensation which has seen the assumption of power by President Emmerson Mnangagwa needs people who are not corrupt. He was giving the closing marks Wednesday at the National Railways of Zimbabwe (NRZ) reception ceremony for equipment hired from South Africa to compliment the company's decrepit stock. The former minister of mines suggested that Mnangagwa's administration was more serious and committed to tackling corruption and fostering Read the full story
AllAfrica
The Russian Federation has offered 70 scholarships to Zimbabwean students willing to study in various fields in Russia this year. This was revealed by Minister of State for Government Scholarships in the Office of the President and Cabinet Dr Christopher Mushohwe soon after meeting Russian Ambassador to Zimbabwe Sergey Bakharev at his offices in Harare yesterday. Dr Mushohwe thanked Russia for the kind gesture and urged students to apply early for the scholarships. "I am happy to share with the Read the full story
South African Govt to Release Zimbabwean Children Found in Truck
AllAfrica
South African Govt to Release Zimbabwean Children Found in Truck Eight Zimbabwean children have been held by South Africa's Department of Social Development ever since they were found undocumented in the back of a truck in November 2017. Their parents have approached the courts, demanding that their children be rele South Africa:Social Development Depts Working to Help Get Children Home Zimbabwe:Zimbabwean Parents Approach Court to Have Children Released By SA Govt Southern Africa:Zimbabwean Read the full story
Zimbabwe's slums grow as hard-up residents seek cheaper housing
Thomson Reuters Foundation News "The political elite control everything from land-allocation, business, commerce and policies in the country to the detriment of the poor and marginalised" Read the full story
ASIA
China’s top economic aide Liu He heading to US in bid to defuse trade tensions
South China Morning Post
Politburo member is said to be making the trip to Washington next week Read the full story
Fox News
President Trump plans to unveil a "massive" new set of sanctions against North Korea on Friday, an administration official tells Fox News. Read the full story
China's big conglomerates are no longer buying up the world
CNN Money
China's deal-hungry corporates are now much more focused on selling assets rather than buying them. Read the full story
Markets in Asia advance as dollar firms; South Korea's Kospi rises 1.5%
CNBC
Asian stocks closed higher on Friday, with gains in the region led by South Korea's benchmark Kospi index. Read the full story
Oil-related stocks in Asia traded higher on Friday after oil prices advanced to a two-week high in the previous session.
Read more: https://www.cnbc.com/2018/02/
The final version of a deal aimed at cutting trade barriers in some of the Asia-Pacific's fastest-growing economies was released on Wednesday.
Chinese regulator seizes control of Anbang Insurance with its chairman prosecuted for 'economic crimes'
China's insurance regulator said Friday that it will take over control of Anbang Insurance Group for a year, with its chairman prosecuted. South China Morning Post
Bangladesh officials approve strategic asset purchase by Shanghai, Shenzhen exchanges Read the full story
South China Morning Post
Prices of homes in prestigious areas of city once called Paris of the East, such as The Bund, Pudong and former French Concession, match those of Hong Kong Read the full story
Reuters Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries about faster rate rises in the United States, while the dollar ticked higher as investors dipped their toes back into riskier assets. Read the full story
EUROPE
Merkel's list of failures is only getting longer - CapX
ddCapX
Angela Merkel has a new plan to bring the rebellious Central European states to heel. According to the press reports, the German government will seek to divert future structural and cohesion funds away from the poorer European Union members and toward those EU states that host large numbers of non-European migrants. Economically, reduction of the funds that flow from rich EU countries to ex-communist nations is a good idea. The evidence of the EU funds stimulating growth is scarce. The evidence Read the full story
Bloomberg
Sony Kapoor Says U.K. Is Showing Increasing Signs of Desperation Over Brexit Theresa May shut her ministers away in the countryside, and it seems some progress was made toward a united position on Brexit. But agreeing among themselves to ask the European Union for something that Brussels has already rejected might not feel like success for very long. May gathered her ministers at Chequers, the prime minister’s official country home, for an eight-hour meeting, and the BBC reports that they more Read the full story
Jeremy Hunt says there is no possibility of UK staying in a customs union after Brexit
The Independent
Health Secretary Jeremy Hunt has said there is no possibility of the Government taking the UK into a customs union with the European Union after Brexit. Read the full story
Russia Claims the U.S. Is Trying to Overthrow This Government
Newsweek
The relationship between Russia and the U.S. is getting worse as Moscow accuses Washington of supporting regime change. Read the full story
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European Union leaders will lay down the first markers on Friday on the size and aims of the bloc's next long-term budget, as a large hole in its finances begins to take shape with next year's departure of one of its main net contributors. Read the full story
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Bloomberg Theresa May poses with members of the EUXT (SN) sub-Committee on Feb. 22. Prime Minister Theresa May gathered her top ministers for an eight-hour session to get them to back her Brexit strategy, as the European Commission preempted the outcome by saying that what it’s heard of her plan won’t work. May took her most senior colleagues to her country retreat to extract their backing for the negotiating position she will take to Brussels for trade talks. But the plan is divisive because it foresees Read the full story
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2-24-2018 Intel Guru Delta URGENT FROM IRAQI TV: "Iraq is moving towards a market economy" (wink)
2-23-2018 Intel Guru RayRen98 Abadi was on television saying that the Budget must be passed within the next week. By next month, investors need Iraq to have a rate that is visible and active. The bank updates should be in and ready by 27 February. Some banks have had problems with DDOS (denial of service) attacks, due to lack band-width. That seems to be the source of the problems the banking industry has had. But we are still in a good place... The last I heard dinar is $3.50+ and dong is $.150, more or less.
2-23-2018 Newshound Guru mike ...the current reality is that the dinar is pegged to the dollar and under Article XIV, there is just about zero demand for a currency you can't spend outside the country, pragmatically, why would anyone want it? To become a currency that's internationally recognized under Article VIII with the IMF they have to hold this rate for a minimum of 90 days, it's too easy to manipulate the rate for a short term and it doesn't prove that Iraq has it's act together and has the ability to maintain stability. There's no reason any other country would accept it for payment for imports, they want the dollar. Like always, time will tell us what's really going on, if Iraq can get the rate within the 2% band for minimum compliance with the IMF"s MCP requirements, all they have to do is hold it and hopefully they can accept the responsibilities Article VIII.
2-23-2018 Newshound Guru MilitiaMan Article: "Association of Private Banks concludes the course «Accounting for financial institutions" I would think [Quote] "the stability of the dollar exchange rate against the dinar will encourage foreign companies to invest inside Iraq.", especially when it is 1:1 or better and not a program rate we currently have thus far today.
2-23-2018 Intel Guru RayRen98 ABADI IS ON IRAQI TV ENCOURAGING ALL CONCERNED TO GET THE BUDGET PASSED ON TUESDAY (DOES IT REALLY MATTER?) 2-23-2018 Newshound Guru Kaperoni Ya never know, maybe the CBI with the help of the IMF and US Treasure finally figured out a plan to succeed at reducing the spread. It would be nice to think so at least. 2-23-2018 Intel Guru Bruce I am hearing some really good things about this going pretty soon here. ...Maybe even before the weekend. I am not one to call it per se, but I am hearing some great stuff. ...I don’t even think Iraq matters at this point because I think they are completely done with what needs to have happened there. ...I am hearing very positive things from US Treasury sources about the next couple of days. I am going to just take that and run with that because they know all the variables. They know what is going on. That is a good sign for us. ...I think we are in great shape and I think we could be surprised here at any time. 2-23-2018 Newshound Guru MilitiaMan Didn't Abadi just get back from Munich, didn't Tillerson have a recent visit? Haven't we heard there is a liquidity issue getting worse as each day goes by? Banks and Private ones not part of the auctions? Dollars are drying up at an accelerated pace? All these things imo are scaling the precipice at the same time and there is little to no room left for anyone to move out of line. The tops spot is an international rate for all to see and it sure looks good from my view! imo. [post 2 of 2]
2-23-2018 Newshound Guru MilitiaMan Article: "Do you mean al-Maliki ... Abadi: secret agreements surround the issue of increasing the proportion of the Kurdistan region of the budget” Looks like Abadi is calling a spade a spade. Maliki, might be careful and be more distant and quiet now, as Abadi has been vocal on the matter of wealth being distributed fairly and proportionately to the province's population ( I read HCL.). ...Abadi is clearly pointing out that there are secret deals that can't be adhered to. ...Those in Parliament would be wise to not push the HCL card much further...the 2018 Budget should have been done and agreed on already. Lets see what happens from here, as in, haven't we heard a rate precedes the budget? [post 1 of 2....stay tuned]
Elmer:
Not in today
Artmeister:
Not in today
Catnip:d
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ARTICLE 1 (from PM Abadi's website)
At time report submitted, no new articles had been added; all postings have already been shared.
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ARTICLE 2
Hakim calls for creating a wave of vigor to encourage participation in the elections
2018/2/23 9:12
[Ayna-Baghdad]
Called the head of the National Alliance, Ammar al-Hakim, to urge broad participation in the parliamentary elections scheduled for 12 May next.
A statement from his office received the agency of all Iraq [where] a copy of it, that Hakim met during his visit to Muthanna province, "another group of youth leaders and competencies in the province, and called for creating a wave of vigor and determination to encourage the broad participation in the elections, Fall within the political taboos. "
Hakim stressed that "complaining is the language of the helpless and it is not enough to describe the problem, but it is necessary to find and describe the solutions. It is a real starting point towards building the country."
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ARTICLE 3
Nujaifi responds to the "fragmentation" Sunni alliances in the upcoming elections
2018/2/23 16:05
[Ayna-Baghdad]
Iraqi Vice President Osama Najafi responded to the criticism of the Sunni parties for not joining them in one political alliance in preparation for the elections scheduled for next May.
"Focusing on the fact that the Sunni component is not unified ignores the fact that the other parties are not united. Today, there are 188 alliances, entities and electoral lists. Naturally, these coalitions comprise members of different components ... In addition to unifying the component, Nujaifi said, Sunni in a single electoral list was not an end in itself, especially as we are actually calling for the sectarian situation to be transcended to the overall national situation. "
He added that "coalition [Iraqi decision], which we represent is an alliance of parties that arose from the womb of the Sunni component and carried his concerns and called for his rights and rejected injustice and marginalization."
Nujaifi, 62, did not deny that "the existing electoral alliances, and the keenness of their leaders to choose national names resonant to them, still bear the sense of sectarian and unmistakable eye," explaining that "this applies to all components of the Sunnis and Shiites and Kurds: everyone decided not to dislodge For the total sectarian ablution. "
"Of course, there are serious attempts and invitations, as we have and others, but the general landscape continues to say that we are still far from going beyond the sectarian situation, and that we need work, sustained effort and sacrifices to achieve that."
"The formation of a political majority government with the participation of winning lists from various constituencies of the Iraqi people, with opposition from all components as well, may be an effective first step to overcome the sectarian situation," said the head of the party.
And about the fears that the date of the elections may put heavy pressure on hundreds of thousands of displaced from the Sunni provinces; where they will be required to return to their destroyed areas that may be unsafe to cast their votes, because the opposite will affect the chances of their candidates, said Nujaifi " The decision of the Federal Court, so we have called and emphasized the need for the government to implement the commitments of the return of displaced persons, and provide the appropriate atmosphere for the electoral process and its requirements, we are optimistic in our nature, and we hope that the election is a new reality does not groan [Sunni] injustice or marginalization.
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ARTICLE 4
Urgent Zamili: the dismissal of the captain of pharmacists and his arrest for his involvement with fake drugs
2018/2/23 18:20
[Ayna-Baghdad]
The deputy governor of Zamili, head of the investigation committee on the charges of the captain of pharmacists, the dismissal of the captain of pharmacists [Mortada Sharifi] by the General Assembly of the Syndicate of Pharmacists unanimously after his arrest and involved with drugs counterfeit and expired and unknown source.
The head of the Committee on Health and Environment MP Qutaiba Jubouri, announced on the eighth of last month the formation of an investigative committee to "accounting" the captain of pharmacists in Iraq, referring to "financial and administrative irregularities" in the union.
A security source said that a force of the Interior Ministry intelligence arrested the captain of the pharmacists of Iraq during an operation in the Mansour area west of Baghdad.
The source said that "a force from the intelligence of the Ministry of the Interior carried out a security operation in the area of Mansour west of the capital, which resulted in the arrest of the captain of pharmacists of Iraq, Mortada al-Shraifi from his home in the region."
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ARTICLE 5
Al-Khalidi: The US presence in Iraq must end, because corruption, vice and the absence of justice and security prevail
BAGHDAD, Iraq - February 23 - "The main task of any country is to achieve two fundamental pillars: security and justice in the country," said the cleric, Mohammad Mahdi al-Khalisi, during a Friday sermon in the city of Kadhimiya. And it should seek to reconsider the essence of its policy and the competence and integrity of those who manage its affairs of the organs and individuals and that the meaning of security and justice in the fullest sense the comprehensive face of all affairs of the State, the homeland and the citizen. "He said.
"Security and justice in such a comprehensive manner can only be achieved under full sovereignty and independence, which contradicts the presence of foreign forces, even if they are called advisers, because this undermines the sovereignty of the homeland and the independence of state decisions. The absence of political security and basic justice, followed by their absence, the absence of security and justice in all aspects of personal, economic, health and food, not to mention military, defense, development, investment and other, and significantly affects the dignity of the nation and the prestige of the state, "noting that" This is in turn due to the state of incomplete sovereignty and the independence of the sources resulting from the unjust occupation, and the continuation of its effects embodied in the (political process) that hinder all reform. (The presence of the military forces) to support all corruption, and to work hard to end this American presence and to establish an Iraqi process stemming from free will and full sovereignty. This is what we call for and what we expect from our criticism of the situation and from our advice to the nation and the government. Advice and goodness and loyalty to God and His Messenger and the rulers of the Muslims and their nation), without any personal purpose or for the purpose of worldly gain. Ending AH
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ARTICLE 6
Rain floods reveal 75 artifacts in Babylon
2018/2/23 21:57
[Ayna-Baghdad]
Babil Governorate Police Command announced that the Antiquities Protection Police Department found 75 different archeological pieces swept by the torrential rain from Tel Zaqoura south of Hilla, while confirmed the delivery of all pieces to the Department of Antiquities in the province.
"The elements of the protection of archeological sites, in coordination with the Babylonian Antiquities Department, have found 75 archaeological artifacts in different locations," the statement said. Most of which were found in the ruins of Burusiba near the tomb of Prophet Ibrahim (peace be upon him), which are pieces of metal and pottery and clay tablets that were washed away by torrential rains last week.
Al-Awadi added that "all the pieces were handed over to the Department of Antiquities, the competent authority concerned with the materials." He pointed out that "the rainfall in previous years caused the discovery of many archaeological pieces and continuously."
A group of media and activists in Babylon had earlier launched a campaign "to urge UNESCO to include the Babylonian monuments on the World Heritage List, and as they continued to spread slogans in the city's archaeological sites, they stated that they" will continue their campaign so that everyone knows that Babylon will remain the mother of civilizations. "
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TNT Call 23-February-2018 by Adept 1
[Music: It’s Done, It’s Finished…]
RayRen: Good afternoon, TNT super-fantastic family. This is Fantabulous Friday, February 23 2018, with yours truly RayRen98 here, and Tony as well. Let’s pick up some of the updates I sent out on Thursday. Abadi was on television saying that the Budget must be passed within the next week. By next month, investors need Iraq to have a rate that is visible and active. The bank updates should be in and ready by 27 February. Some banks have had problems with DDOS (denial of service) attacks, due to lack band-width. That seems to be the source of the problems the banking industry has had. But we are still in a good place, and today’s information will support that.
Tony: We are in a good place. This thing has got to come to an end sooner or later. I get calls and text after our calls, we are just as frustrated as you are. It is happening, I do know that. It’s hard when we keep hearing it’s going to happen and then it doesn’t for whatever reason. We go through that five or six times a day. I know it’s frustrating. I hear from one bank that it’s all done, then in other regions/states it’s not done. I don’t know that DDOS attacks are the reason, but that’s the one we were given. Banks get DDOS attacks every day. As of this morning, we are being told that it should have gone live last night and we should be at the bank today, but we’re still here talking to you. Let’s see what happens today.
This is what I look at: Abadi is saying we won’t see this until they have the Budget. Now the date we are hearing for this update is the 27th, and that is the same day Iraq says it is doing the Budget. The good thing I’m hearing is that the Budget is already done, and this time it’s supposed to go live. The rate is in the Budget, and it’s over three dollars, so it makes sense that once it is live, they will have to RV because the world will know the rate. They have all these reasons that they haven’t done it, and none of that is wrong because we are not supposed to know that final moment. I know that they have come to agreement with the Kurds; we are being told not to worry about it, that this is just a show. People on the banking side have had meetings with tellers to let them know this is real. They have been training exchange tellers for the last two weeks, and they have been told they will be exchanging people the first week in March, which is next week.
We have been given a payout schedule for the different groups and tiers, and when it is supposed to start. We are not going to tell you that schedule, but at least they have put that information out there. It’s not bad news, we’re just disappointed that it didn’t start today. I do have a question for those are listening to the call: If people go through the teller line at a place that is not their bank, where do they go to open the account for all this money to go into? Do they leave the line to open an account and then go back? Also, Wells Fargo is supposed to exchange everyone, even if only for 30 days; how do they do that if the person exchanging doesn’t have an account?
They didn’t have a lot of information this morning because they thought we would be standing in line at the bank today. Apart from that, we’re in a good place.
Ray: What about leaving excess currency at the bank?
Tony: I know people are concerned with taking money into the bank… those who have appointments. If you have less than one million, you’ll be going to the teller. If you have one to ten million, you can ask for a wealth manager. If you want to leave your currency that you are not yet ready to exchange, banks MAY either give you credit in your account or SKRs. It will be up to the bank, if they want to do that.
Questions from the TNT forum
Q: I am a little concerned about revealing my location, preferred bank and amount of currency over the phone? How secure are these phone lines and the operators we’re talking to? A: They are going to be the same bank lines you use today. They are not encrypted or anything. But they are dedicated lines, and I don’t think any criminal network is logging into those calls as you make them.
Q1: Ray, are we still going to have to show proof of where we purchased our foreign currencies? And provide gifting letters to those we gave currencies to, and nave them notarized? RR: No, not at the teller window, but it’s better to be safe than sorry. So keep your receipts and gifting letter, so that the recipients know that it was worth $100 rather than ten million dollars. Remember, the donor is the one paying 40% gift taxes.
Q: I gifted my brothers that live in North Louisiana. I live in South Florida. Since the zip codes for my purchase and their exchange are different, are my brothers going to have trouble exchanging in another district from where the original purchase was sent to or, is their gift letter going to be enough for them to exchange in the North Louisiana district that they live in? A: They will be fine exchanging in their own district. Those asking about districts, you will call the 800 numbers and they will explain what you can and cannot do. They know; we don’t. You are to exchange in the district you live in. If you have a different situation, call them and have them explain what to do.
Q: Can you please clarify: Will Australia and NZ have 800 numbers? And since the Zim will not be in Forex; is it possible to exchange Zim in Australia or NZ? A: I believe that there are 800 numbers for across the globe: Oz, NZ, Spain, Germany, wherever.
Q: I am 75, my peer group is mostly the same age, etc. Tony: You will have to call the bank and see what they can do for you.
Q: I live in District 2 Puerto Rico, There are no tier 1 Banks here in island , when I call the district 2 800# which bank here in the island can redeem my Zim notes? All our banks can not handle this amount of money for exchange. A: When you call the 800 number, they will be able to give you that information.
Q: Can more than one person from the same household exchange ZIM up to the limit, maybe exchange on different days. So more than one appointment would have to be made but by different people, like me, then my wife etc. A: Sure you can.
Q: Some in my family are listening and asked for a clarification: Between 1 and 10 Million will also get in line at the bank and then be directed to a personal banker, or have an appointment made with the personal banker, by the teller. Correct? A: Yes.
Q: Will we be able to walk into any branch of the two main banks to do a teller exchange? A: I would think so, so long as that branch deals with foreign currencies. The banks are supposed to set up two tellers at each location to handle this onslaught. If not, they will be able to direct you to where you need to go.
Q: When released, can we go to a teller with less than one million and make an appointment for the rest (over ten million)? A: Yes. Call the 800 numbers.
Q: If the cap is individual, does that mean my wife and I can each exchange 100 T without causing heartburn? A: If you have a joint checking account, you are probably considered one individual. However, if you go in separately, you may each be able to exchange a 100 T note. We have already addressed this enough, I think. Remember, this whole cap thing is temporary – it may not even last 30 days! I think that some of us are over anxious about this.
Q: If the banks are limited on the amount of exchanges they can do per day, then some of us may have to make two or more trip to complete our exchanges. Have they explained who sets the rate we exchange at during the different appointments? A: The only people who have to worry about that are the 100 million plus exchangers, which is less than 1% of those with currency. Most are worth $400,000 or less, so you don’t have to worry about this at all. For those with 100 million or more, they will probably exchange some today, and some more next week. If you have gone through the 800 numbers, the wealth manager will already have some idea of what you hold. Those with ten million or less shouldn’t have an issue at all. At first they thought to give everyone up to ten million dollars in the first 30 days. Then they thought they’d give everyone 20 million PLUS one 100 T note. Now the government is trying to give everyone as much they can up to their daily limit, and spread out the rest. You’re not going to spend 40 million in the first 30 days!
Q: If I bring in a 100 T note, and the rate is .00000014, what do I end up with ? A: Fourteen million dollars. That’s the last time I’m answering that question.
Q: I am holding 1 million dong here in NC for some missionary friends in Germany. They have a Texas cell phone number when they come to the States because their children live there. What district would they call? Tony: They should exchange where they live, in Germany, at the German rate. Their currency should be with them! RR: I don’t know if they live in Germany; if they are missionaries, that is just temporary. Tony: Your location is based on where you have lived for the last 180 days. If they call from Germany, they will get the German 800 number, because the TX 800 number will not work for their address. If their residence is in TX, then they call the TX 800 number from Texas to exchange in that district.
Q: If I have a personal bank account and a Trust bank account, can I exchange a Zim in both accounts? A:
Q1: Will the two big banks you will name for us be the only banks doing exchanges for the first couple weeks? A: It should be the first ten days.
Q2. Can holders of exchange amounts between $1m and $10m call private bankers at either of the two big banks to set appointments rather than standing in a teller line? A: Nothing beats a failure but a try – especially if you already know a private banker. Q3. Should holders of these exchange amounts establish accounts prior to exchange appointments if time permits? A: Do you want to do your exchange at that particular bank? If so, open an account before you call the 800 number. Then you don’t have to spend time opening your account at the exchange.
Q: Can I open accounts with my now tradable currency and NOT exchange to USD? A: So far as I know, you have to exchange into USD. Banks may be setting up MCAs for individuals soon; I suggest you call the banks to find out.
Q: The Banks have made so many changes upgrading their systems, getting more reserves, extra teller training, setting diff. limits, dealing with DOS attacks, and making changes as each window passes. Do you and Ray feel pretty confident that they will be on board and prepared once we start exchanging? A: Yes. Because we are here, with our site, and because we have 250,000 on Twitter, we can instantly have any changes out to the base of people and then send intel in turn to all their associates. If things get really crazy, we are here to help as best we can.
Q: Do all the US districts have their 800 numbers? RR: Yes, and they have been distributed to the best of my knowledge.
Tony: People are listening and we are not finding much substance here. Let’s go the live callers. I know it’s hard because we are right at the end; now is the chance to ask your questions.
Questions from live callers
404/865: Re: contract rates, you said you would check further – any feedback on that?
Tony: So, I’ve been trying not to say anything about contract rates, just to make sure I had the latest information. I will tell you this: following our campaign several years ago, #wearethepeople had an agreement that we (some of the internet people) would have a taste of those contract rates. I know the percentage they gave me, so that we would stop the campaign. We got over $3 and a percentage of you will get the contract rates. We have people in place to monitor sharing those contract rates with you. If there is a problem, I don’t want to have a fight before we go; I’d rather fight it afterwards. I do know that there are contract rates agreed upon for us.
Caller: Dates correlating Iraqi Budget with banks being ready on 27. February, plus the rates on the Qi cards relating to the rate in the Budget … are these all connected?
Tony: It’s also the day the Gazette is published and the UN rates. It’s all supposed to be done, and I don’t know why it didn’t happen today. It seems like chicken-and-egg. One region said they were to go live Wednesday night, and another region said they didn’t update so no one could go. But at least we know we’re closer to it going.
Caller: So the banks are saying that they have regional limits, day by day; is that limit by the bank, or is it by percentage on the branch?
Tony: Each region is its own beehive, with its own queen. They are limited to what all the bees can carry, because that is the queen’s limit. That’s as far as taking in money in these exchanges. The issue comes with bank A might have received $200,000 cash on a particular day, and another bank receives $2,000,000 to hand out to exchangers. So they may not be able to exchange more because they cannot give out that cash. Most banks have tripled their deposits to help this go through, but there will still be limits per location.
Caller: When did you get that schedule?
Tony: Two days ago, and this was the first time more than one agency agreed on it.
CA caller: I’m standing in line to exchange one million dollars; will the dong be on the screen as well as the dinar?
RayRen: Both are supposed to be on the screen – everything in the first basket. The last I heard dinar is $3.50+ and dong is $.150, more or less.
Caller: My friend has many 100 T notes; what will happen for him?
Tony: He will exchange one note and take the rest away until later. They only want a certain amount coming in until the Zimbabwe economy is stronger. The rate will be 11-22 cents, and they can only take so many in the first month. Let’s say they can only take 40,000 notes in the first month. If 20,000 go in and the rest wait until the rate goes up, then your bank might call you to say that you can bring in another one. They will work it based on what actually happens. Your friend can tell the wealth manager what he has and either set up a schedule or have the wealth manager call him.
347 caller: Let’s all prayer for calm and patience.
Tony: For Zim, the plan was to give you up to 500 million and then pay you out over 25, 50 or 100 years. But the banks decided they didn’t want to do 100-year contracts, so they cut ti down to 25 years. Then Zimbabwe and the IMF decided that was too much debt, so they decided to allow 100 T note per person, and then over the next 18 months or so, they will absorb the rest of it. That’s what we are hearing right now, so getting 200 notes exchanged is not going to happen. Their goal is not to make everyone trillionaires. They are discussing now that you can exchange ten 100 T notes ONLY, ever. The majority is in agreement there, and we’ll see. So take in your one 100T note and see what happens; your wealth manager will call you for further notes. Zim will not be on Forex, nor will it float; it will be adjusted weekly by the Zimbabwe central bank, in accordance with how the process and economy is going. That’s what we’ve been told.
707 caller: Power of Attorney (PoA): if I am doing my own exchange, can I do a PoA exchange for a friend who is ill?
RayRen: When you call the 800 number, explain the situation and ask them for two appointments. It should be possible.
312 caller: Some believe the US is holding this up – is that accurate? Is it only the US banks having these problems?
Tony: That is my understanding, that they didn’t believe it when they were first told, so they didn’t get ready in a timely way. Now they are scrambling.
Caller: You said that there are two banks who are exchanging for the first two days, yet the 800 numbers will ask which bank we bank at. Will that stretch past the ten days?
Tony: Actually, we are told that there are three banks available. If you only want to exchange at your (other) bank, but they will probably give you an appointment further out. You can also ask them to give you an appointment as quickly as possible; then you can work out everything else.
There are exchange fees – could be two or three points – so remember that. The buy and sell will be restricted to a range of five points. We don’t have worry about the Zim rate going up and down by thousands, either.
TX caller: In case we are able to get contract rates, with NDA… we don’t know how long the NDA will be; if we don’t feel comfortable to read over the NDA during our appointment, and we might not even understand the language… what are our options?
Tony: I don’t know, to tell you the truth. Before, there was a 4-5 page NDA for 90 days to get the contract rate. Mine was 50 pages for 15 years. The simple one was just about not telling anyone else what you received, either amount or rate. They don’t want you to have to come in multiple rates; they just want us in and out. On our next call I will tell you about contract rates and let you know where we are.
Caller: What if we are still here next week, do you think that will still be about the banks getting their systems synced, and will be have to wait until ALL banks are ready? Hand it over to the women; we’ll get it done!
Tony: Last week, some banks didn’t do the system upgrades they were supposed to do. Then the committees got together, and they were told by the IMF to go around any banks that didn’t get it done. We keep being told the banks have been directed to go, with permission from UST, IMF and others, but banks still haven’t gone. They are pushing the banks, and some banks are saying the UST is not releasing them to go! I don’t know which is the truth, because I talk to all of them. All we can do is to give you the best information we can, to make this as smooth as possible for you. Those on the committees do listen to us to judge the mood of the people, and they are telling us that the system is 99% complete. Anything could happen the rest of the day! You can see how things change, and how fluid it is. You want to understand this in life, because once you get this money you will go through this again and again. Oh, and over 50% of those on the committees are women.
423 caller: My bank, Regions, is still not saying anything about this. You said that when we call the 800 numbers, they can send you to the bank you want, but it might be ten days out. Is that a hard rule, or can Regions call you in anyway?
Tony: Right now, CitiBank takes dinar, so they will continue with that, although they are not one of the top two banks. There might be a differences of pennies in the rate or fees, because they are all competitors. You can call other banks and compare rates.
Caller: What about exchange centers?
Tony: The exchange centers are for those who call 800 numbers because they have $10 million or more. Everyone else will go to the teller windows in bank branches. If you want to exchange quickly, through HSBC or Wells Fargo, it wouldn’t hurt to open an account with one or the other. We have been told that WF has to exchange for every person who wants to exchange, and give them 30 days to find somewhere else, if they don’t want those particular customers. I don’t know how it will work with the tellers.
RayRen: The 800 operators will send you to the lead banks for the first week or so, then bring the other ones in.
NZ caller: I am hearing this will go tomorrow. It will be a sunny day even if it’s raining.
DC NY :
Tony's Wrap Up: Here we are : Alot of info, alot of changes, and some updates. Hopefully, when the time comes we get the 800 numbers,so we can put a call together on how this is going to work, and then we will give you 800 numbers. Take your time. It will take time for the banks to get everyone in the system. Lets hope this is over tonight or tomorrow. Everything is pointing to the 27 th or 28 th in Iraq to try to make it public. That is what we can look for right now. Tellers are trained for the last 2 weeks, 800 numbers are deliverered to everyone except us. Hopefully we will talk to you over the week
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Saturday, February 24, 2018
Word on the Street Saturday 2/24/18
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