News, Rumors and Opinions Saturday Morning 12-28-19
TNT:
Tishwash: Probably to deal with the death of that soldier but more details will come later at least they usually do ...
News of the arrival of the US Secretary of State, the base of Ain al-Assad in Anbar
Local media reported that US Secretary of State Mike Pompeo arrived at Ain al-Asad air base in the Al-Baghdadi district of Anbar Province. link
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Tishwash: Parliamentary Finance: We cannot pass the budget unless we tackle the issue of financing the deficit
Head of the Parliamentary Finance Committee, Haitham Al-Jubouri, confirmed on Saturday that the deficit in the next year's budget amounts to 48 trillion dinars, which is a realistic and unfunded deficit, noting that the budget cannot be passed if the financing issue of the deficit is not addressed.
Al-Jubouri said in an interview with Alsumaria News, "The amendment of the financial administration for which the reading has been completed, is aimed at recycling the amounts allocated to the governorates in the next budget to be a mechanism and a rule followed by all upcoming budgets in order to continue providing services in case the budget is not approved for any reason."
Al-Jubouri pointed out that "the budget for the next year up to the moment suffers from a very large deficit of 48 trillion dinars," proceeding to the saying: "We do not have a cover to finance all deficits."
He explained, "25 trillion dinars of the deficit can be addressed, but the other 23 trillion do not have any money to cover it and this is the problem that caused the government not to send the budget to Parliament," adding that "the deficit is a realistic and unfunded deficit and in the absence of thinking about the sources of funding, do not think We can pass the budget like this. "
The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar stressed, last Wednesday, that the expected deficit in the budget for next year will reach 48 trillion dinars, making it the "largest in the history" of Iraqi budgets , ruling out the possibility of sending the current government to the budget as a caretaker government. link
Courtesy of Dinar Guru
Jeff ...Iraq is strongly positioning themselves for the rate change. What has Iraq done through 2019? One thing that Iraq did was they ...strongly promoted the use of their own currency through writing loans...What else happened? They launched...a single currency practice...They were not able to utilize any other currencies to pay for reconstruction because they can only use the Iraq dinar going forward...what that does is strengthens their native currency...but they can't pay for that reconstruction...all that budget money is now inside the 2020 budget. They can't pay for it until after the rate change. That's an international step...the 2020 budget has some amazing stuff in it...Article 140, HCL all that is now inside the 2020 budget...
Jeff IMO we are at the last step waiting for Iraq to position and allocate money from within the 2020 budget. But they put a little spin on this. Now I strongly feel that we are waiting for them to resolve the prime-minister issue...IMO we want to see the Prime-minister portion resolved by or around January 15th...that would easily leave them two and a half months to tackle the 2020 budget...IMO the 2020 budget is the very last step that we're waiting on...I still feel we're in a very good position. Obviously just a little time is needed...
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Keiser Report: Printing money, chopping down trees (E1481)
Dec 28, 2019
In this episode of the Keiser Report from Rio de Janeiro, Max and Stacy note the acceleration of the rainforest being chopped down into the last months of the year.
At the same time, out of control money printing from the Fed is sending stock markets to all time new highs. In the second half, Max continues his interview with private equity investor and former banker, Robert Wilson, who has lived in Brazil for over twenty years.
They discuss the more sound economic arguments for maintaining the Amazon than chopping it down for timber.
The nature of the rainforest makes it for more rational to keep it for the long term intellectual property prospects to be found in the unique flora and fauna of the region.
They also discuss China’s important trade relationship with Brazil and about the need for greater immigration into the country.
Forced Liquidation Of IRA Accounts Snuck In The Spending Bill, Silver Price Jumps As Dollar Slides
Silver Report Uncut: Dec 28, 2019
Economic collapse news December 28, 2019.
First, we look at the crazy moves in commodities futures, for example, oil, copper, silver, and gold all closed the week out with a huge rush.
The dollar notably declined for the fourth day in a row.
We also see a new rule snuck into the spending bill means that IRA retirement accounts that are inherited must be fully liquidated within 10 years.
Previously their heirs could potentially draw small amounts periodically and essentially leave it invested indefinitely. Now we see the new plan is forced liquidation of IRA retirement accounts with some hefty taxes of course.
Also, we look at home prices and their relentless rise which to some this is great news... However, for many first time home buyers, this is a very troubling situation to be in.