Bix Weir, Greg Hunter, KTFA and more Friday Afternoon 1-17-2020
Bix Weir
Weekend $500B Bank Bailout Needed for Jamie Dimon's Bonus!
RoadToRoota: Jan 17, 2020
The FACT that JP Morgan would not even exist without the Repo Bailouts calls into question the Morality of handing out 2019 bonuses to the JPM Executives!
Fed Repo Market Warning of Dire Financial Risks : Greg Hunter
Jan 14, 2020
The Fed has now established a “permanent” repo facility. What gives? Why is the Fed panicked into pumping billions per day into the repo market with no end in sight? This Fed action is warning of dire financial risks.
One thing is for sure, if the economy was as good as being reported, there would be no need for this kind of Fed action. How long can this go on for?
Are we close to another 2008 financial meltdown moment? Will this be a financial extinction event for many? What could trigger the next crisis?
These are all good questions that will be answered sooner than later. What people should do is look for ways to reduce risk and exposure in the markets, but for the most part, it seems people are ignoring the financial warning signs.
KTFA:
Samson: Al-Fatlawi confirms that there are parliamentary moves to pass the 2020 budget
10:50 - 01/17/2020
Member of the Al-Fateh Alliance Fadel Al-Fatlawi confirmed on Friday that there are continuous parliamentary moves to pass the 2020 budget, pointing out that the parliament session next Sunday will witness discussions in this regard.
In a statement to Al-Maalouma, Al-Fatlai said, "Parliament has an extensive vision about the budget and the need for Iraq to start with the start of the new year."
He added that "there are moves and discussions within Parliament in order to grant powers to the government to send the 2020 budget to the House of Representatives to vote on it."
He stressed that "the parliament session next Sunday will witness discussions to reach a decisive result on the budget, because Iraq cannot remain without a budget in the presence of the caretaker government." LINK
DCDriver: It is becoming clearer to me as Frank has indicated, that the budget needs the rate. If they are holding back the budget to include more contracts that would inflate it even more IMO. Bring on the RATE!
Tommy17: Yea articles stated they put the new Chinese agreement in the budget Imo
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Don961: An Iraqi woman, US Congressman Ilhan Omar, competes in the November elections
Arab and International 01/17 2020 10:42 339 Editor: am Baghdad today - follow up
Iraqi Dalia Al-Aqeedi, 51, a former White House reporter, entered a contest in the November elections with the US Democratic Congressman, Ilhan Omar.
Al-Aqidi told the New York Post that she "felt compelled to compete against the lawmaker Ilhan Omar, a Somali-born." Describing it as "a contentious figure, she neglected her region of Minneapolis .Al-Aqeedi stated that "Ilhan Omar spreads hatred and racism, not only in her region, or in her state, but in the entire United States . "
"It is hurting moderate Muslims, Muslims like me, they do not represent me as a Muslim, " Al- Aqidi added .
Al-Aqidi published a video report in her campaign, which she presented in her journalistic way, during which she talked about herself, her background and goals, and criticized her competitor Ilhan Omar.
Al-Aqeedi tweeted, “It is time to defend America! Candidate to Congress because we are not divided, as Ilhan Omar and the extreme left want to believe. Candidate to be closer to each other.”
One of the strengths of Akeedi's candidacy, she said, is that she will "not use her background as a Muslim refugee woman in the United States, the story shared by other personalities . "
Al-Aqeedi and her families came from Iraq to escape the former Saddam Hussein regime, when she was in her twenties, the beginning of the nineties. Ilhan and her family fled the war in Somalia when she was nine years old .
Omar's competition took a strong professional streak for herself as a political reporter, worked at the Voice of America Foundation and then as a reporter for the Middle East Network from the White House, and traveled around the world and covered conflicts in her homeland, Iraq and Lebanon .
When asked about the fact that she moved, months ago, to the center of Minneapolis’s district of Omar, Al-Aqidi said that she “spent her time every day talking to the local people who expressed concern that Omar was not being represented by Omar . ”
She continued: " Thanksgiving holiday, helped feed more than 250 homeless in Minneapolis, which did not remember Ilhan. Is not already talking about the situation of homelessness in Minneapolis, with bitter cold, and where there is no adequate shelters to sleep."
She indicated that she would "stand as an election campaign focused on reducing gang violence in the streets of Minneapolis, and gathering people to confront the anti-Semitic inciting language about which Omar was criticized . "
On the issue of the homeless, Omar submitted in November the "Homes for All" bill, which would allow a major expansion in the supply of American public housing .
"It is just one crisis after another. She could have done a lot for our community in immigration and education matters, but she did not, she picks up fights, " a Somali who lives in Minneapolis told the New York Post about Omar .
Al-Aqidi asserted that she was "preparing for a fierce battle in the county that overran Omar's votes by 78 percent in November 2018," adding: "If one of them believed that I was running for just being in Congress, I would have chosen one of the smallest provinces in Virginia (... ) But I chose a fight because I believe in what I do, because I believe in the constitution and feel defended in the face of those who work against their country. ” LINK
Turkish banks switch on digital gold transfer network
19 hours ago
Turkish banks have begun the transfer of a cryptocurrency representing physical units of gold via a blockchain platform developed by Istanbul Clearing, Settlement and Custody Bank (Takasban).
The private cryptocurrency, dubbed BiGA, represent the equivalent of one gram of gold stored in the vaults of the Istanbul Sotck Exchange.
The BiGA blockchain platform and gold transfer system caters for the export, amortization and transfer of digital assets, and also feature integration, reconciliation, monitoring and reporting capabilities.
Bank participating in the project, and transferring BiGA units in real-time across the network, include state lenders Ziraat and Vakif, Garanti BBVA, Albaraka Turk, Kuveyt Turk, and Ziraat.
Futures iterations will see the systems extended to end-users via mobile wallet applications that will be provided by the banks participating in the project.
https://www.finextra.com/newsarticle/35088/turkish-banks-switch-on-digital-gold-transfer-network
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Turkish Bank’s Blockchain Platform for Digital Gold Transfers Goes Live. BiGa system enables participating banks to use blockchain tech to transfer digital assets representing a quantity of physical gold. https://www.reddit.com/r/CryptoMarkets/comments/eieu1z/turkish_banks_blockchain_platform_for_digital/
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Turkish Bank’s Electronic Gold Transfer Blockchain Project Goes Live
Jan 1 · 2 min read
Turkey’s Istanbul Clearing, Settlement and Custody Bank (Takasbank) announced that it is now living its blockchain-based, gold-backed physical transfer system. Let’s check to Turkish Bank’s Electronic Gold Transfer Blockchain Project Goes Live.
According to an announcement on Dec. 30 Turkish Takasbank unveiled BiGA Digital Gold to provide banks with a blockchain-based system for digitized gold issuance, repayment and transfer.
The BiGA program, first revealed in September 2019, allows participating banks to use blockchain software to move a quantity of physical gold digital assets. Each commodity is a gram of gold physically deposited in Turkish stock exchange Borsa Istanbul (BIST) vaults.
The BiGA project aims to “establish an infrastructure that will allow for the execution of the transfer of dematerialized gold at certain standards with their physical equivalents kept in safe custody using blockchain technology,” explains the official website. Takasbank officials, speaking to the Turkish news agency AA, said:
“This platform distinguishes itself from many similar projects in the world by allowing the use of blockchain technology to transfer digital assets based on physical commodities, not having any value of its own, and ensuring full compliance with existing regulations.”
Big Turkish banks on board
Takasbank unveiled the BiGA Digital Gold platform involving several Turkish financial institutions, including state lenders Ziraat and Vakif, private lenders Garanti BBVA, and private and state-owned banks Albaraka Turk, Kuveyt Turk and Ziraat Participation.
Takasbank is Turkey’s primary clearing and settlement company, which also offers central counterparty clearing services for regional BIST markets approved by Turkey’s Capital Markets Board, the local financial regulatory and supervisory body.
Turkey is moving the blockchain in full
Turkey has seen steady growth in blockchain ventures, both in the public and private sectors, following the announcement of plans for a national blockchain network. Turkish President Recep Tayyip Erdogan said in the 2020 Annual Presidential Program that this year the government will finish testing its blockchain-based “Digital Lira.”
In September 2018, in partnership with Takasbank and Turkey’s Central Securities Depository, BIST established a blockchain-based system to enable better financial data transfers.