News, Rumors and Opinions Saturday Morning 9-12-2020
Is Today the Day? Many Indications Durham Probe May Be Dropping Indictments – TODAY
By Joe Hoft Published September 12, 2020 at 6:24am
This is a glimmer of hope that the bad guys might finally have their day – and that day is today.
We’ve heard it before again and again – John Durham is about to indict the many crooks surrounded the spying, set up and attempted coup of candidate and then President Donald J. Trump.
Everyone who has studied this event – arguable the most corrupt event in modern US politics and perhaps US history – has waited patiently.
Numerous crimes are known in the public arena alone. When will the crooks finally see their day? There are some indications, today is that day.
One reporter who hasn’t said this before claims today is the day.
Remember when I said, wake me when there are indictments and or arrests? Well, a solid DOJ source just told me to “set my alarm clock.”
I said, I’ll believe it when I see it.#DurhamReport
— Kevin Corke (@kevincorke) September 11, 2020
Read full report here: https://www.thegatewaypundit.com/2020/09/today-day-many-indications-durham-probe-may-dropping-indictments-today/
TNT:
Tishwash: An Iraqi delegation will visit Kuwait tomorrow to discuss these files
The Kuwaiti newspaper Al-Qabas reported, on Saturday, that an Iraqi delegation will visit Kuwait tomorrow, Sunday, to discuss several files related to the two sides.
The newspaper stated in a news briefed by the information, that “The Senior Undersecretary of the Iraqi Ministry of Foreign Affairs, Ambassador Abdul Karim Hashem, arrives in the country tomorrow heading the Iraqi delegation that will attend the meeting of the follow-up committee concerned with examining what has been achieved of what was agreed upon in the Kuwaiti-Iraqi Joint Higher Committee, which was postponed at the end Father".
She added, "The meeting will be held the day after tomorrow, Sunday, and the Kuwaiti side will be chaired by Deputy Foreign Minister Khaled Al-Jarallah," noting that "the most important files that will be discussed are the demarcation of maritime borders, the opening of land ports, commercial and economic exchange, terrorism and compensation, in addition to the security challenges in the region." link
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Courtesy of Dinar Guru
Pimpy ...there is a lot of buzz going on...but again when it comes to what's going on in Iraq you just never know...as I feared the news of the reform papers discussing a possible rate change has gotten many people out there talking about different rates. This is what I'm hoping you guys don't get caught up in...No body knows [the rate]...There are arguments for so many rates it's not even funny. I get bombarded with a lot of people asking me questions about the rates...It is exciting but don't get caught up in all the hype...the fact that you made an investment into a currency and a rate change happens and you benefit from it should make you happy. Don't get me wrong, all of us out there want to get that big payday. Who doesn't. But the point being people have...been down this path a bazillion times...Let this play out. There's a lot of reason to believe that finally finally this year something is going to happen...
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KTFA:
Don961: The draft federal budget law for the year 2020
9/11/2020
Click on the following link to download the PDF
Draft-law-the general-federal budget for the Republic of Iraq-for the fiscal year-2020-(2)
Don961: Dr. Mazhar Muhammad Saleh *: Flash notes about the Iraqi public debt 2020
9/11/2020
In light of the financial and economic crises that Iraq is currently experiencing, it is now time to re-present some details related to the composition of the Iraqi public debt, which is classified as follows:
First:
$ 25 billion foreign debts, most of which are sovereign, payable during the years 2020-2028, which is a remnant of the Paris Club debt settlement plus debts obtained in 2016 and did not exceed $ 12 billion out of the $ 25 billion above due to the oil crisis at that time and the war on ISIS provided by a group The Big Seven and China have borrowing from the capital market.
Secondly :
There are sovereign debts for a group of countries outside the Paris Club Agreement / 2004 and are subject to the terms of the agreement with the club and appear in a total number before cancellation and return to years before 1990, which requires writing off 80% or more if the debt is correct and its calculations are according to the beliefs of the Paris Club and the remnants of the debt are rescheduled, including: four countries Gulf countries (Saudi Arabia, Kuwait, Qatar and the Emirates) and eight countries such as Poland, Brazil, Turkey, and others.
And that the burden of that debt without writing off is still about 43 billion dollars (but it must be written off under the Paris Club agreement, otherwise the debt is suspended)
Third:
Despite the foregoing, the largest part of the debt, in my opinion, which today stands at nearly $ 60 billion, is (internal debt, whether in cash or against a guarantee to pay the debt by the Ministry of Finance).
This (internal) debt is exclusively between the Ministry of Finance and the government banking system (Rasheed Rafidain, the Iraqi Trade Bank and the Central Bank of Iraq).
In conclusion, when collecting the above debt (60 + 43 + 25) = 128 billion dollars.
Perhaps international loans that were awaiting their turn in 2020 were withdrawn as previous commitments or pledges and are still under withdrawal, whether from Japan or Germany, and for the benefit of some investment projects pledged to finance them in the amount of $ 6 billion 2020, so the total amount of debt (internal and external) will reach a number that is close to The number announced by the Minister of Finance, amounting to 134.4 billion dollars
Conclusions:
1- As the GDP for 2020 may have lost or will lose about 30% of its value, I believe due to the oil crisis and the economic recession that the country is going through, the ratio of Iraq's debts, which (increased) really divided by the (low) GDP, will definitely rise in proportion and proportionality. Therefore, it increased from the accepted international standard ratio of 60% (public debt to GDP).
2- The sound of the debt risk alarm came in two directions, the first, an increase in domestic borrowing at a high rate, and the other, (the possibility of collecting some foreign loans (in addition to what is currently obtained from them through previous government agreements) that is possible with international financial institutions such as the Fund and the World Bank, as justified by law. Borrowing for the year 2020, noting that the increase in domestic borrowing came this year with an increase of 20% of the total internal debt balance due to the deficit in the operational budget and the registration of salaries and obligations due to payment due to the financial and economic hardship that the country is currently experiencing since the previous financial crisis 2014-2017.
(*) Researcher and economic writer, formerly the governor of the Central Bank of Iraq
Copyright reserved to the Iraqi Economists Network. Republishing is allowed provided that the source is indicated. 11th September 2020
To download the article as a PDF, click on the following link
Dr. Mazhar Muhammad Salih - Flash notes about the Iraqi public debt 2020
Dr.. The appearance of Muhammad Saleh
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STOCK VALUE AFTER THE RESET...Q&A with Lynette Zang
Sept 11, 2020
Ghis001 -Any thoughts about the "bank for all act"? (march 23rd 2020, same day as DOW bottom).
Ruben-how do you foresee that a stock portfolio will be valued after the Currency Reset? Is the value going to keep the same purchasing power?
Brad - Not sure if you have commented much recently on House Bill 2558 introduced on 5/7/19 detailing the conversion of the dollar into a gold backed currency
Gigi-I listen/watch your videos on the economy often. The last one was focused on the upcoming economy and the changes that will happen in our currency. You mentioned during this video something about how the changes will affect the Libor. I wasn't sure what you were talking about. I have a so called guaranteed annuity that is tied to the Libor. So in your opinion , how will these changes affect my annuity since they're tied to the Libor? Thanks in advance for clarifying you comment.
Christopher - Which country do you think will fare "best" over the next 5 to 10 years? If you could move to any country in the world, which would it be?
Nathan – Is it legal for the Federal Reserve to Provide State and local governments unlimited credit lines?