Posts in Economics
China Just Got Handed The Oil Deal Of A Lifetime

.China Just Got Handed The Oil Deal Of A Lifetime

 By  Tyler Durden  Thu, 09/19/2019

Authored by Simon Watkins via OilPrice.com,

China and Russia are sewing up whatever oil and gas fields and accompanying infrastructure that they can in Iran and Iraq, as Iraq tries to markedly up the pace of development on the fields it shares with Iran.

Iraq only wants the U.S. for the Common Seawater Supply Project (CSSP) because ExxonMobil is the only firm that can do it properly and within a reasonable timeframe. ExxonMobil’s participation, though, is far from guaranteed.

Of all the key shared fields - Azadegan (Iran side)/Majnoon (Iraq side), Azar/Badra, Yadavaran/Sinbad, and Dehloran/Abu Ghurab, Naft Shahr/Khorramshahr – the first of these has been a priority for Iran since it was severely flooded in March.

It is this field that was the focus of the announcement last week that two major new drilling contracts have been signed: one with China’s Hilong Oil Service & Engineering Company to drill 80 wells at a cost of US$54 million and the other with the Iraq Drilling Company to drill 43 wells at a cost of US$255 million.

According to senior oil and gas industry sources spoken to by OilPrice.com last week, it is China that will do all of the work and finance all of the drilling, with the headline ‘Iraq Drilling Company’ being on the contract simply to assuage the followers of Moqtada al-Sadr, the de facto leader of Iraq, and his Sairoon (‘Marching Towards Reform’) power bloc whose public message at the last election was that Iraq should not be beholden to any other country.

OilPrice.com understands that al-Sadr privately has approved the project, otherwise, of course, it would not be going ahead.

Located around 60 kilometres to the north-east of the main southern export terminal of Basra, the supergiant Majnoon oilfield is one of the world’s largest, holding an estimated 38 billion barrels of oil in place. Rather literally, the field’s name means ‘insane’ in Arabic, derived from its possessing an ‘insanely’ large amount of oil.

Discovered in 1975 by Brazil’s Braspetro (now part of Petrobras), it has been subject to a microcosm of the troubles that have affected the Iraq oil industry as a whole, with two U.S.-led wars, the war against Iran, and ongoing domes­tic security issues leading to the cancellation of various deals with international oil companies (IOCs) over the past 40 years.

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News, EconomicsDINARRECAPS8

TNT, Frank26, X22 and More Thursday Night 9-19-19

.TNT:

Thursday UPDATE for September 19, 2019

Everything remains the same today, exchangers are excited, "on location" and stand "at the ready" ........just a-waitin' for this release.

Extremely late hours are being experienced by some banking staff.....do they think this is real? (LOL)

Be prepared to negotiate any rates given from the screens, banks are going to be competitive for your business.

CHAT has been having "technical issues" today, even though several hundred of us still have access.

It appears that rates have adjusted "sharply upwards" due to the current economic situations.......exchange, but don't spend 2 much 2 fast. (wink)

NEWS FLASH - Just received a report that bank screens have completely cleared........uh oh, what next?  LOL

"It's Done, It's Finished, we're just waiting for the CALL that says it all!

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Frank26, EconomicsDinar Recaps 20

Crypto-Fiat Currency is a Disaster for Your Privacy

.Crypto-Fiat Currency is a Disaster for Your Privacy

By Chris Lowe, Editor, Inner Circle Sep 12, 2019, 8:08 am EDT

We’re not the first to worry about financial privacy in a digital world

Imagine a new type of cash…

Unlike the kind you carry in your wallet, it exists only in digital form.

There’s no more need for ATMs. Tip jars are a thing of the past. Even vending machines are digital.

Every time you spend money, it’s through a digital app. And it’s recorded in a government database.

The feds collect and store details on every transaction you make. They also know exactly where you are in the world every time you buy something.

In today’s dispatch, I (Chris) will show you why this scenario is already becoming a reality around the world… and why it’s a disaster if you value your liberty.

Then tomorrow, we’ll look at why it’s coming to America… and what you can do about it.

We’re not the first to worry about financial privacy in a digital world…

A pioneering computer scientist called Paul Armer sounded the alarm on this back in the 1970s.

In the 1950s and 1960s, Armer headed the computer science departments at the RAND Corporation think tank and at Stanford University.

Then, in 1975, he issued a chilling warning about what would happen to our privacy if governments ditched physical cash and moved to a purely digital money system.

In an article titled “Computer Technology and Surveillance,” Armer said such a system would become a powerful surveillance tool for the state.

This wasn’t lost on the KGB….

In 1971, Russia’s secret police tasked a group of advisors to devise a plan.

KGB higher-ups wanted to figure out how to create a surveillance system that would keep track of everyone inside the U.S.S.R. without them knowing about it.

The computer scientists’ proposed solution was to get rid of physical cash and replace it with digital currency transactions. As Armer wrote…

That exercise… was only a two-day effort. I’m sure we could add some bells and whistles to increase its effectiveness somewhat. But the fact remains that this group decided that if you wanted to build an unobtrusive system for surveillance, you couldn’t do better than an EFTS [Electronic Funds Transfer System, the term Armer used to describe a purely digital currency system].

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News from TNT. KTFA and Bix Weir Thursday Afternoon 9-19-19

.TNT:

Tishwash: Abdul Mahdi soon to the United States

BAGHDAD: The adviser to Prime Minister Abdul Hussein al-Hanin on Tuesday, the most important agenda of Prime Minister Adel Abdul-Mahdi's visit to the Republic of China, which begins next Thursday, stressing that the next direction will be towards the United States to sign contracts after Iraq opened doors with Neighborhood and brothers.

"The prime minister will head to China on Thursday at the head of a large delegation, which has clear economic features, including ministers, advisers and 16 governors," Hanin said in a press statement

He added that "the program of the next visit and economic files, carried by the Prime Minister include major projects in roads and transport, services, education, health and other," pointing out that "the Iraqi and Chinese sides have prepared well for the visit in the past months, through continuous meetings with major Chinese companies And complete the funding model through the Iraq-China Joint Reconstruction Fund. "

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The Bolsheviks Even Want To Tax Your Toaster Oven

.Notes From The Field By Simon Black

September 17, 2019  Bahia Beach, Puerto Rico

The Bolsheviks even want to tax your toaster oven

In a concept paper called “Treat Wealth Like Wages”, the ranking member of the US Senate Finance Committee laid out a plan late last week to radically overhaul the tax code in a way never before seen.

Just as you’d expect from the title, his central idea is to tax wealth; if you own just about anything, this Senator wants you to start paying an annual tithe to the federal government.

It’s sort of like how property tax works: you don’t actually -own- your own property. You’re just renting it from the government.

They charge you a tax each year-- some percentage of the property’s value-- to use the land. And if you don’t pay your property taxes, they’ll come and take it from you.

Now they want to create a similar federal tax that applies to almost every major asset you own.

This includes CASH in your bank account. Financial assets like stocks and bonds. Private business and partnership interests. Your entire real estate portfolio. Collectible assets like art and fine wine.

Never mind that you’ve bought these assets with money that’s already been taxed. Now they want to tax it again, every year. And when you die they want to tax it again.

They even included Individual Retirement Accounts.

Heck, for that matter they even proposed taxing “household goods” beyond a certain threshold. So you could even pay tax on your toaster oven.

What I found really interesting about this proposal, though, is that the guy who authored it is NOT one of the 10,000 people running for President right now.

In fact, this US Senator (Ron Wyden from Oregon) isn’t even up for re-election until 2022, at which point he’ll likely retire.

We’d expect to hear about wealth taxes from all the Bolshevik presidential candidates who are seeking attention and headlines. Or from some firebrand Twitter Queen who hates rich people.

But Ron Wyden is neither of those. He’s a seasoned, 70-year old US Senator who created a detailed 33-page plan on why AND how to implement a wealth tax.

This shows that the idea is really catching fire.

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Simon Black, EconomicsDINARRECAPS8

Bix Weir: Another $84B Bank Bailout Today!! 9-19-19

.Bix Weir

Another $84B Bank Bailout Today!! Silver/Gold Riggers Hold System Together!!

Road to Roota:  Published on Sep 19, 2019

With $75B of Fed Bailout money available the Banks came for $84B so someone didn't get their porridge this morning! Also, Silver & Gold Rigging & EOS is on it's last legs...GOOD RIDDANCE!!

This is the third day in a row. And it’s all about the derivatives.

There is no way out of this.

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EconomicsDinar Recaps 20

How the Feds Can Finally Win Their War on Cash

.How the Feds Can Finally Win Their War on Cash

By Chris Lowe   November 28, 2018

Say goodbye to the dollars in your wallet… Why governments hate cash and cryptos… Last chance to join Bill, Doug, and Mark in tonight’s special broadcast… In the mailbag: “Your freedom ends as soon as it crosses into mine”…

We’re living in a Surveillance Society…

When we left off yesterday, we were discussing the Surveillance Society – the Deep State’s attempt to monitor, record, and process everything you say and do.

Every search you make on Google… every page you like on Facebook… every purchase you make with a credit or debit card… every song you listen to on iTunes… every show you watch on Netflix… every email you send… every phone call you make – your digital activity is being watched and tracked around the clock.

There are also hundreds of millions of cameras and microphones in smartphones, laptops, and “smart devices” such as Amazon’s Echo, Google Home, or Facebook’s Portal.

And with the new advances in facial recognition we’ve been telling you about… odds are you’ll show up on one of America’s 30 million CCTV cameras. (That’s one for roughly every 11 citizens.)

The U.S. Surveillance Society is already formidable. And it’s about to get even more formidable… as the feds come after the last refuge of financial privacy – cash.

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Economics, Misc.DINARRECAPS8

Your Savings Are at Risk in the Cashless World That’s Coming

Your Savings Are at Risk in the Cashless World That’s Coming

Chris Lowe  Investor Place  September 13, 2019

They’re Coming For Your Money – Every Last Cent…

That may sound like a weird, tinfoil-hat type of thing to say.

 But it’s what’s at stake in the War on Cash.

As we’ve been showing you, governments are planning to seize control of your wealth by getting rid of banknotes and coins.

That means no more Ben Franklins. No more nickels and dimes. Nothing but electronic 1s and 0s in a government database.

In a purely digital-currency world… the feds will be able to track, monitor, and record all your financial transactions.

Worse, your savings will be subject to whatever crazy policies central bankers come up with to cope with the next financial crisis… with little chance of escape.

Think of this as a “digital slaughterhouse”…

It’s a term I (Chris) borrowed from currency expert Jim Rickards. As he put it…

When pigs are going to be slaughtered, they are first herded into pens for the convenience of the slaughterhouse. When savers are going to be slaughtered, they are herded into digital accounts from which there is no escape.

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Economics, Misc.DINARRECAPS8