News, Rumors and Opinions Friday 5-29-2020
TNT:
Tishwash: Within hours … a Kurdish delegation to negotiate the budget and Fouad Hussein’s foreign minister
A leader in the Barzani party revealed today, Friday, that a Kurdish delegation will visit Baghdad within hours to negotiate the budget and Fouad Hussein’s foreign minister.
Mahdi Abdul Karim, leader of the Kurdistan Democratic Alliance, led by Masoud Barzani, told Al-Ikhbaria, “We have a successful and strong alternative for Fuad Hussein, which will be presented in the coming days, if the parties in Baghdad insist on rejecting Hussein.”
He added that “the Democrat will not stick to a certain person to lead a sovereign ministry in Baghdad, but rather try to make the Kurdish negotiators strong in the capital, Baghdad.”
And Abdul Karim pointed out that “the Kurdish blocs will visit Baghdad in the coming hours to present several files to the government, including the agreement between the two parties on the budget, as well as to resolve the issue of Fouad Hussein’s absence or not to the Ministry of Foreign Affairs.”
It is noteworthy that most of the political blocs and parties in Baghdad refuse to hand over the Foreign Ministry to the leader of the Barzani Party, Fouad Hussein, due to his mismanagement of the Ministry of Finance in the government of Abdul-Mahdi, as well as his hard-line separatist stances. link
Tishwash: Economist: We are facing a fatal crisis and reveals 54 trillion dinars in banks and individuals
The economic expert, Alaa Al-Fahd, described the current economic crisis in the country as a “lethal”, while revealing that there were 54 trillion dinars in banks and individuals.
"The government is currently studying several tools for the state's financial policy, including internal tools by trying to diversify revenues for other sectors and revitalize them, such as the industrial and agricultural sectors, and the participation of the private sector, which can contribute to providing the state and operating many stalled projects," Al-Fahd said.
He added, "There are several tools on the table of the government and parliament, including the direction of revitalizing the private sector and supporting it to be a partner of the state," noting that "the economic crisis due to the reduction of oil prices in Iraq is not a result of today, and in every drop we notice the government resorting to reducing expenditures."
Al-Fahd pointed out that "this crisis is the most deadly in the Iraqi economy, especially its entry with the Corona pandemic crisis, which are multiple challenges that may portend two financial and health catastrophes, so there should be revenue diversification and rationalization in spending, and this is what the International Fund report confirmed by having multiple jobs with more than 250 thousand jobs and horizons can be pressured according to productivity, "stressing" the government's endeavor to work on this by adopting the 2020 budget law. "
He continued, "All the solutions currently offered are immediate solutions, either resorting to internal or external loans by selling bonds or resorting to funds in addition to the trust accounts with the ministries, which have not been disposed of until now."
Al-Fahd noted that "Finance Minister Ali Abdul Amir Allawi has experience in managing the financial file during previous years through which tools and alternatives can be found that contribute to supplying the budget," asking, "Are these solutions close to reality, especially since banks are mostly idle and the cash block is mostly at homes?" ? "
He revealed, "The presence of 54 trillion Iraqi dinars, 4 of which are in banks and 50 among individuals in homes, how can the government withdraw this large cash block? What are the encouraging means to buy government bonds and lending? This is what the state's financial policy is currently looking at."
Al-Fahd added, "The government is currently working to close simple computers {trust accounts}; but our problem in Iraq is most of our operating expenses, not investment, and our dependence on oil mainly."
He added, "There are job slack and double wages. Radical solutions must be put in place. Most countries in the world, especially oil, have suffered from the crisis, but they have sovereign funds through which the deficit can be bridged," returning to resort to withdrawing cash reserves from the central bank that "will weaken the Iraqi currency."
He concluded Fahd his speech by saying , "There are things that many are on the table , including savings mandatory for employees , " pointing out that " the withdrawal of funds frozen and smuggled out of the country file legal needs to raise claims and evidence and the timing of the long and the government is currently looking for quick solutions to get out of this crisis , " . link
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KTFA:
KittyCat: The National Guard has arrived on the scene. They are in Minneapolis and fully prepared. George Floyd will not have died in vain. Respect his memory!!!
— Donald J. Trump (@realDonaldTrump) May 29, 2020
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Samson: Việt Nam should enhance its productivity to grow: World Bank
28th May, 2020
Việt Nam should focus on a productivity-driven development model to become a high-income economy by 2045, according to the latest report from the World Bank (WB).
The international financial institution launched the 'Vibrant Việt Nam: Forging the foundation of a high-income economy' report yesterday in Hà Nội, urging the country to combine innovation with balanced development and allocation of private, public, human and natural capital to become a richer country.
As the Vietnamese Government is preparing its socio-economic development strategy for 2021-30 and a socio-economic development plan for 2021-25, the report recommends policy options to help it maintain the quality growth through more dynamic firms, more efficient infrastructure, skills, and a move toward a greener economy.
“Việt Nam is one of the greatest development success stories of our time. The country, however, is now at a turning point where some of its traditional drivers of growth are gradually weakening,” said Ousmane Dione, country director of the WB. “To achieve its ambition to become a high-income economy by 2045, Việt Nam must put productivity growth front and centre of its economic model. In other words, it needs to grow not only faster but also better," he added.
Robyn Mudie, Australian Ambassador to Việt Nam, also attended the launch and praised the country's development. “Việt Nam’s commitment to bold economic reform has been a major contributor to its remarkable economic success,” she said, adding “Australia is proud to have supported this report, which provides clear recommendations on how Việt Nam can harness productivity-enhancing reforms to improve both the quality and equity of its future economic development”.
According to the report, some of the forces that have propelled Việt Nam’s growth were now slowing. The country’s demographic dividend was fading, and global trade was declining, while other challenges - such as pollution and the rise of automation, were growing. Besides, the ongoing COVID-19 crisis could be an accelerator of these trends, said the report.
To cope with such a changing environment, Việt Nam needed to strengthen its productive assets, with priority given to building dynamic firms by encouraging competition and easing procedures for those firms’ entry and exit. “Dynamic firms can only be created in a supportive business environment that ensures access to finance, transparent regulations and legal protections,” read the report.
The report also mentioned efficient and sustainable infrastructure including financing, and operations and maintenance as well as skilled workers and fair opportunities. “The country scores well on basic education, but it will need to promote university and vocational-technical skills that are becoming even more important for a productivity-led growth model,” the report said,
It also put the green economy as one of the key points to develop Việt Nam, mentioning sustainable development required more effective management of renewable natural resources such as land, forest and water; stricter pollution controls, including in major urban centres; and mitigation of and adaptation to the inevitable growing impacts of climate change. LINK
Jim Willie aka "Golden Jackass" Talks Gold, RV, NESARA GESARA and the Bright Future of the USA
Robert David Steele:
Since 2004, the Golden Jackass/Jim Willie has been running the Hat Trick Letter, a newsletter that focuses on gold, currencies, the Petro-Dollar, the economic decay in the West, the march toward fascism led by central banks and their monetary policy, in contrast to the new economic development in the East.
His numerous correct forecasts on important developments toward the global breakdown have gained international attention, if not notoriety.
The current major forecasts include the rejection of the USDollar as global reserve, the integration of the Eurasian Trade Zone via the Belt & Road Initiative, the flipping east by Germany, Turkey, Saudi, and Japan, and the return of the Gold Standard.
The return will come through the trade window, not the currency window.
Most recent forecasts include the return to Infinite QE Forever and the broad-based establishment of non-USD bank payment systems in alternative to the oppressive SWIFT system, actually weaponized in recent years.
The acceleration of systemic breakdown events has come in earnest since the US Treasury Bond market crisis has gained attention, with the US T Bond serving as the new global subprime bond.
While the economist profession has been exposed as degraded and compromised, the Jackass carries a near 90% correct forecast rate, since systemic failure, criminal activity, and sustained pressures to maintain the broken system are integrated in the work.