News, Rumors and Opinions Friday Morning 9-20-19
EarthFirst: China Just Got Handed The Oil Deal Of A Lifetime
by Tyler Durden
Thu, 09/19/2019 - 20:25
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. LINK
Harambe: Bloomberg: Worst-Ever Famine Threatens Zimbabwe as Economy Collapses (9/20/19)
A drought, cyclone-induced floods and an economic collapse have left Zimbabwe on the verge of its worst-ever famine.
The southern African nation will probably run out of corn -- its staple food -- by January and about three out of five Zimbabweans won’t have enough to eat, according to the United Nations World Food Programme.
While Zimbabwe has experienced intermittent food shortages for the last two decades, the problem has mostly been limited to rural areas. This time, 3 million of the 8.5 million people at risk of food insecurity are in cities, said Eddie Rowe, the WFP’s country director in Zimbabwe.
You will have a lot more people hungry in Zimbabwe than ever before,” he said. In the past, “in urban areas the alarm bells were not ringing.”
Courtesy of Dinar Guru
Frank26 ...now it [The Iraqi dinar] is being primed and it looks like the CBI is telling us they're ready to introduce new smaller category notes and fils which can only be done if they lift the three zeros from their exchange rate. They've done a pretty good job of lifting the three zeros from the street.
Those are the two areas they are being lifted...they just said a few days ago, 'we have so much to back up our currency that it's way beyond International standards.'...that's really good.
Godlover: I have to say that I am surprised not many have responded to this article. Imo this is one of the most powerful & crucial articles ever! If the oil & gas law is indeed passed next week......then it is game on imo. This is something I have been looking for, for many years.
Samson: Deputy: Parliament will hold seven sessions next week and pass a controversial law
"next week's sessions will pass through one of the controversial laws that have been suspended since Years".
He added that "the political blocs agreed to pass eight controversial laws through the current legislative chapter," noting that "the most prominent laws are oil and gas, the Federal Court and the draft law to end the US presence in the country, as well as hosting Prime Minister Adel Abdul Mahdi to see what has been achieved from the government program." .
The Presidency of the House of Representatives has lifted its session until next Saturday at 1 pm. LINK
Re: Franks Thursday Night Video https://www.youtube.com/watch?v=UsmpN69YoD8
EHankins: Tonight's report was so sweet in my opinion with the end of phase 1 where the citizens will see the NSCN right in front of them and the beginning of phase 2 is very telling for the near future being this coming Saturday and then imo the 24, 48, to 72 hour to lead us to Monday.Will the citizens touch the notes? See them more. Imo why have such a meeting with citizen and then send them home empty handed? You said when it's all over you won't have anything else to say. Well, you said it all.
The Silver Market Manipulation Investigation Expands "Even If It Leads Deep Into The Bank"
Silver Report Uncut: Published on Sep 19, 2019
The Silver market manipulation probe that has already brought in 19 traders from several major banks is now about to get a lot larger. After the recent 3 traders who were indicted for manipulating the silver futures market by placing spoof orders.
Now they say they have developed better methods of tracking orders and identifying anomalies in the silver futures market. They also have some strong leads they believe will lead to higher levels of the bank.
In fact that was the statement on this investigation into the precious metals markets They will pursue these leads wherever they lead "even deep into the bank" I wonder if he means Jamie Dimon.
They did say they are adding more staff and expanding into other large banks based on information gained from the other 3 traders they just caught.
Economic Collapse News - The Feds Repo Efforts Are Not Enough, Effective Fed Funds Breaks Out
Silver Report Uncut: Published on Sep 20, 2019
Economic collapse news. We are seeing a full blown liquidity crisis are the overnight repo market refuses to settle down. I think the market is really not giving enough credit to how rapidly this is deteriorating.
The Fed conducted another overnight repo after a consecutive breakout above of the effective fed funds rate above the IOER.
The problem is it was a very concerning sign the first gap up. Now a new all time record divergence. We see the feds repo was oversubscribed again this time by 9 billion dollars over the 75 billion dollar cap. This means there was a funding shortfall of 9 billion dollars in the US banking system.