News, Rumors and Opinions Friday Morning 12-27-19
TNT:
Harambe: Reuters: Iraqi president says he would rather quit than name PM rejected by protesters.
(12/26/19)
BAGHDAD (Reuters) - Iraqi President Barham Salih refused on Thursday to designate the nominee of an Iran-backed parliamentary bloc for prime minister, saying he would rather resign than appoint someone to the position who would be rejected by protesters.
The Bina bloc, led by Iran-backed militia leader Hadi al-Amiri, had nominated Basra Governor Asaad al-Edani to be the next prime minister.
But Salih said in a statement that appointing Edani would not placate protesters demanding an independent prime minister with no party affiliation or help calm the unrest that has rocked the country.
He said that because the constitution does not give him the right to reject nominees for the premiership, he was ready to quit. Mass protests have gripped Iraq since Oct. 1 and the protesters, most of them young, are demanding an overhaul of a political system they see as profoundly corrupt and keeping most Iraqis in poverty. More than 450 people have been killed..
“Out of my desire to stop blood and maintain peace, and with due respect to Asaad al-Edani, I refuse to nominate him,” Salih said. “Therefore I put my willingness to resign the post of president to members of parliament so that they decide as representatives of the people what they see fit.”
Mass protests have gripped Iraq since Oct. 1 and the protesters, most of them young, are demanding an overhaul of a political system they see as profoundly corrupt and keeping most Iraqis in poverty. More than 450 people have been killed.
Prime Minister Adel Abdul Mahdi resigned last month as the protests continued, but he has remained in office in a caretaker capacity.
Sources in Salih’s office said the president left Baghdad on Thursday for his hometown of Sulaimaniya in the semi-autonomous Kurdistan Region of Iraq and that he would deliver a televised speech later.
Courtesy of Dinar Guru:
Jeff ...[Guru's] Frank26, Delta and MilitiaMan are all of the opinion that the rate will change around the beginning of this fiscal year...[MilitiaMan] is saying that March is a reckless rumor...here's where he's wrong...
Iraq's never done a rate change at the end of the year...roughly 2010... Shabibi said that the best time for a rate change is either at the beginning of a fiscal year or middle. They've never commented around the end of a fiscal year...
Back in the '70s Iraq's fiscal period was actually the exact same as Kuwaits from the beginning of April through the end of March...in 1973 Iraq's currency pegged to the dollar was worth $3.37 ... ...
Iraq's preparing to join the international world community...Iraq will start managing and controlling all of their own affairs...that's when they would most likely transition to a new fiscal year and un-peg from the dollar and repeg to a currency assortment basket to be structured exactly how Kuwait is structured today...
Jeff ...I've been in this 10 years. I think I've only seen one article in 10 years where they ever talked about the physical exchange rate of the Iraq dinar ever being in the $3+ range. Like 99% of all the articles I've seen that mentioned anything about the Iraq exchange rate they've always showed it to be in the dollar range. Why is that? They're never gonna show you the real truth as to what the rate is even gonna be. That's why like I said 99% of the articles are talking about the dinar exchange rate being pegged to the dollar showing that the value of the exchange rate is in the dollar range. They don't want us to know that it could be in the $3+ range...they don't want you to think that it could even reach $3+...
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QAnon:
In last 28 months: - 15 Presidents - 5 Vice Presidents - 44 Prime Ministers - 5 Deputy Prime Ministers - 271 Ministers - 11 Deputy Ministers - 2 Chancellors - 1 Vice Chancellor got fired/resigned/retired/died. resignation.info #Q #QAnon #Resignations #WWG1WGA #MEGA #MAGA
CEO Of Chinese Bank Sentenced To Death For Stealing $100 Million
by Tyler Durden
Fri, 12/27/2019 - 06:30
Dick Fuld and Jimmy Caine are grateful that in the US, punishment for corporate malfeasance typically amounts to a slap on the wrist. Because after nearly crashing the global economy, the two former bank CEOs got off with barely a slap on the wrist.
If the pair had been running banks in China when all that went down, it probably would have been a different story. For instance, Fuld probably wouldn't have been alive to sit for all those ten-year retrospective interviews in late 2018 that helped soften his image as the CEO whose recklessness almost destroyed American capitalism from the inside out.
Compare that to this: On Friday, the former chairman of struggling Chinese lender Hengfeng Bank was sentenced to death with a two-year delay by a Chinese court. His crime? He was convicted of illegally pocketing $100 million while his Shandong-based bank headed inexorably toward failure, eventually becoming the latest Chinese regional lender to require a rescue and full-on nationalization by Beijing.
CEO Jiang Xiyun, meanwhile, was convicted of accepting bribes and illegal 'accounting irregular' tricks.
Hengfeng Bank said earlier this month that it would issue 100 billion shares through a private placement in one of China's largest state-led rescues of small Chinese banks.
Jiang Xiyun was convicted for moving 754 million yuan ($108 million) worth of Hangfeng shares to his personal account between 2008 and 2013, according to the Yantai Intermediate People’s Court. He also took bribes of more than 60 million yuan together with another bank executive, according to the Thursday ruling. A reprieved death sentence may be commuted to a life sentence if the person shows good behavior within the allotted period.
In China, a death sentence with a reprieve may be commuted to life in prison no parole if the individual shows genuine remorse.
The bank sold new shares for about $14 billion to a group of investors including a unit of China’s sovereign wealth fund and a local government-backed asset management firm.
China’s banking regulator said back in June that the Shandong government was speeding up the restructuring of Hengfeng, a mid-sized bank, that has failed to disclose its financial statements for two years.
The lender had 1.2 trillion yuan ($175 billion) of assets at the end of 2016, according to its most recent annual report.
The Chinese banking sector has been particularly strained after the government shocked the market by taking over Baoshang Bank Co. in late May, the first bank seizure in more than 20 years.
Beijing is scrambling to shore up its banking system, particularly small and medium-sized lenders.
https://www.zerohedge.com/markets/ceo-chinese-bank-sentenced-death-stealing-100-million
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Keiser Report 1480
Dec 26, 2019
Markets! Finance! Scandal! Keiser Report is a no holds barred look at the shocking scandals behind the global financial headlines.
From the collusion between Wall Street and Capitol Hill to the latest banking crime wave, from bogus government economic statistics to rigged stock markets, nothing escapes the eye of Max Keiser, a former stockbroker, inventor of the virtual specialist technology and co-founder of the Hollywood Stock Exchange.
With the help of Keiser's co-host, Stacy Herbert, and guests from around the world, Keiser Report tells you what is really going on in the global economy.