.How Political Chaos Threatens the World Economy

One Crazy Day Showed How Political Chaos Threatens the World Economy

An escalating trade war and unpredictable policy shifts. Also, tweets.

By Neil Irwin  Aug 24 2019

 The series of economic and financial developments on Friday was a strange, bewildering, exhausting microcosm of why the global economy is at risk of a meltdown.

It showed the odd interplay at work between the Chinese government’s actions in the escalating trade war with the United States, the sober-minded global central bankers who have limited power to deploy and an American president whose public pronouncements often appear driven by grievance more than strategy.

President Trump arrived in France on Saturday for a meeting of the Group of 7 industrialized nations, having set the stage for fireworks and confusion.

In one dizzying day, he had seemed to be searching for whom or what to blame for economic troubles, first using Twitter to call his own Federal Reserve chief an enemy of the United States and then to urge American companies to stop doing business with China.

To continue reading, please go to the original article at

https://www.nytimes.com/2019/08/24/upshot/global-economy-political-chaos-risk.html

.BOE's Mark Carney Urges Replacing Dollar With Libra

In Unprecedented, Shocking Proposal:

BOE's Mark Carney Urges Replacing Dollar With Libra-Like Reserve Currency

 By  Tyler Durden  Sat, 08/24/2019 - 10:11

 After Jerome Powell's neutral-to-slightly-dovish-but-mostly-boring speech on Friday morning, investors could be forgiven for suspecting that this year's Fed-sponsored gathering in Jackson Hole might be disappointingly dull (especially with all that's going on in Trump's twitter feed, the escalating trade war and escalating geopolitical unrest).

 Then along came former Goldman banker and current (outgoing) BOE governor, Mark Carney, who in his lunchtime address laid out a shocking, radical proposal - perhaps the most stunning thing to ever be unveiled at Jackson Hole - urging to replace the US Dollar with a "Libra-like" reserve currency in a dramatic revamp of the global monetary, financial and economic order.

While it was unclear if Carney was focusing on Libra as the new reserve currency, or simply was hoping to find something against which the dollar could be devalued, the proposal was clearly shocking as it suggests that the central bank quiet acceptance of cryptocurrencies (especially in Japan) has been what many have speculated all along: a "currency" against which fiat money can be devalued in hopes of sparking fiat hyperinflation that inflates away record amounts of fiat debt.

Of course, such a new system would bring about the end of US hegemony, and effectively end the dollar-based global financial system, dramatically scaling back the US's influence in the global economy, and making rising powers like China and Russia critical players an increasingly multipolar world.... especially if they propose a gold-backed dollar alternative to the world.

That this would quickly emerge as the new reserve currency - together with whatever stablecoin/crypto central bankers deign to be the dollar's replacement - goes without saying.

Carney's proposal comes just a few months before he's due to step down from his position leading the Bank of England.

We note that, because it is a well known fact that central bankers tend to speak the truth once they have quit their position of power and influence. Yet it is quite shocking for Carnery to do so while still in office; the bottom line, Carney sounded like nothing less than an Austrian-school economist, who admits that the existing neo-liberal/Keynesian system has collapsed.

To continue reading, please go to the original article at

https://www.zerohedge.com/news/2019-08-23/unprecedented-shocking-proposal-boes-mark-carney-urges-replacing-dollar-libra

KTFA Members "News and Views" Thursday Afternoon 8-15-19

KTFA:

Rommy:  TOTAL: 33 innings, 8 hours 25 minutes. The longest game in major league baseball history was a 25-inning affair on May 8, 1984 when the Chicago White Sox beat the Milwaukee Brewers, 7-6. The game lasted 8 hours and 6 minutes.

Mostly everyone watching this game knew that there was going to be an end and it would be well worth their time. In the end there was a --- WINNER!!!

Oh there were some who complained by asking "when is this going to end?"

But the smart people took much joy in what they were witnessing, and realized they got triple their money's worth as they enjoyed every play of the game with extra concessions, knowing they would never have this chance again.  

Boxman:  What does this have to do with dinar holders....lol....Perfect analogy...  

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Wednesday night “Dessert” CC 8-14-19

New Playback Number  (605) 313-5153   Access Code - 319183#

https://fccdl.in/D8iBmJqOo8

Samson:  In figures .. huge financial losses for Iraq in 6 years

2019/8/15 10:08

An international organization of the United Nations revealed huge financial losses for Iraq in six years.

According to a report issued by the United Nations Development Organization (UNCTAD), "Iraq lost about $ 36 billion during the period from 2013 until the end of 2018 as a result of political instability and security and the ongoing war with ISIS and other terrorist elements." 

The report added that "Iraq lost last year 4.885 billion dollars compared to the loss of 5.032 billion dollars in 2017."  He noted that "race also lost about 6.256 billion dollars in 2016 compared to the loss of 7.574 billion dollars in 2015." 

The report promised in 2014 "the largest loss of foreign direct investment, where Iraq lost about 10.176 billion dollars, while lost 2.335 billion dollars in 2013."  He pointed to the "sharp decline of the Iraqi economy over the past years due to security and political unrest and wars in the region." LINK

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Samson:  100 Iraqi companies participate in Damascus International Fair

15th August, 2019

Damascus continues its preparations for the launch of the 61st session of the Damascus International Fair with broad Arab and foreign participation, and more than 100 Iraqi trade and industrial companies participate in the exhibition.

According to the agency 'SANA' that more than 100 Iraqi industrial and commercial companies and businessman and merchant confirmed their participation in the 61st session of the Damascus International Fair

The agency quoted a number of Iraqi businessmen to emphasize the economic and trade cooperation between Syria and Iraq, said Iraqi businessman Saad al-Numan, who participated in many sessions of the exhibition that: 'Damascus International Fair unique economic phenomenon in the region, characterized by inclusiveness and sobriety'. 

He considered that the return of the sessions of the exhibition sends a message to the whole world that Syria is facing and winning with one hand and produce and innovate with the second hand

For his part, the First Vice President of the Syrian-Iraqi Business Council Sadiq al-Moussawi said that the continuation of the sessions of the Damascus International Fair despite the war is proof of the vitality of the Syrian people and their adherence to their independent national options

Al-Moussawi added that 'a wide spectrum of Iraqi public and private sectors aspires to raise the pace of economic cooperation and trade exchange between Syria and Iraq to higher levels in the framework of work for economic integration between the two countries', pointing out that 'the Iraqi market is one of the most important markets for the Syrian industrial, agricultural and medical product And cosmetic

In turn, Iraqi businessman Dr. Bassem al-Baghdadi said that the holding of the new session of the exhibition is a message for a new Syrian victory in line with the great victories achieved by the Syrian Arab Army over terrorist organizations

The two countries are preparing to open the Qaim-Albukamal border crossing, which is a vital commercial artery, while Syria is witnessing a strong return to the agricultural and industrial production sector, which requires export markets for its success and strengthening the Syrian economy

The committee of delegations and public relations in the private sector team participating in the Damascus International Fair announced yesterday the arrangement of an invitation and a visit to about 400 Arab and foreign businessmen to the next session of the Damascus International Fair scheduled to start this month   LINK

Samson:  Maysan .. the removal of a thief 600 million dinars in Basra

 2019/8/15 12:41

The Directorate of Internal Affairs in the province of Maysan, on Thursday, the arrest of a suspect who stole 600 million dinars in Basra.

A statement of the Directorate received (Euphrates News) a copy, that "the authorities arrested a defendant who stole the amount of money (600) million Iraqi dinars from banking in the province of Basra." 

He added, "We have information about the defendant [SA] required in accordance with the provisions of Article (443 / q) on charges of stealing money amount of six hundred million Iraqi dinars was formed a team of officers and employees of internal affairs in Maysan and after He was ambushed and arrested." 

"He has been handed over to the requesting party to complete the legal proceedings rightly," the statement said.   LINK

Samson:  Deputy describes the steps to fight corruption as "elementary"
15th August, 2019

A deputy from the movement of wisdom, Thursday, described the steps of anti-corruption as "initial steps", stressing that they do not rise to call it a "step", pointing out the importance of the government focus on more important joints such as auction sale of currency instead of focusing on small particles do not offer the state anything.

Mahmoud Mulla Talal said in an interview with Alsumaria News, "Our previous experience in the provinces and what has been observed today during our work in the House of Representatives, the steps of integrity and the Anti-Corruption Council in dealing with corruption are initial steps and do not rise to call it a step," noting that "one of the steps "The fight against corruption, which we believe is useless, is the issue of disclosing financial receivables, which we consider to be mere ink on paper and does not give its sponsors any benefit in the fight against corruption."

Talal added that "the information that is included in the statement of accounts receivable do not know if there are steps to audit, and if there is an increase or decrease in what is being written to Andrei if there are accounting procedures," pointing out that "such steps are useless, which made corrupt They continue to corrupt." 

Talal stressed that "there are clear steps and aspects that can be launched in the fight against an important part of corruption, namely the auction of the sale of currency and mechanisms of smuggling and the exit of money out of the country through bills, some of them in the names of the deceased before the issuance of those bills in their names." He stressed that "there are many joints of the state neglected by the state and focused on small parts where the convicted only one or two years imprisonment implemented or suspended execution without the return of stolen money."  LINK

Samson:  Expected impact after the entry of Chinese leading technology company “iPayLinks” on the Middle East market

15th August, 2019
The Middle East is rapidly establishing itself as an emerging market for cross-border e-commerce due to the proliferation of smartphones and the increasing purchasing power of consumers.

The entry of iPayLinks to the regional market is an important event that will change the rules of the economic game in the region, where the long-awaited entry of China's leading provider of remote payment services! Today, iPayLinks, which has a licensed branch in Dubai, as well as a SAGIA-licensed subsidiary in Riyadh, aims to build comprehensive payment solutions for businesses across the Middle East.

This has made the region an attractive e-commerce destination with a large and medium-sized competitor struggling to get the biggest share of this promising economic movement! MENA online sales have continued to record impressive growth over the years and the region's trade volume is expected to reach $ 26 billion by 2020.

The GCC aims to strengthen trade and investment ties with the world's second largest economy - China, following 35 years of strong diplomatic ties between the GCC and China. Today, with the latest measures, it is believed that more than 2,000 companies will benefit from bilateral relations, as Chinese Internet giants “Tencent” and “DiDi” will expand their horizons in the region.

Headquartered in Shanghai's business center, iPayLinks is expected to build a bridge between China's online payment industry and the Middle East, which will ultimately contribute to the growth of e-commerce in the region and provide convenient payment facilities.

Bin Wang, Regional Manager, said: “Today, the trend of companies in the GCC region is to deal directly with B2C in terms of e-payments. We also expect many companies to move towards cooperation among themselves as well as not only with consumers. As more and more companies are ready to move most of their payment options online, the GCC and the UAE, in particular, are at the forefront because more local businesses are adopting cross-border businesses, so iPayLinks today The strategic location to provide seamless services that enhance e-commerce across the border. "He added:" solutions and services that will be communicated will be time-sensitive and meet the regional e-commerce business requirements through cooperation with regional companies and financial institutions. "

Following the growth and challenges of Fintech startups and cross-border prosperity in the region, iPayLinks also aims to create a cross-border e-portfolio for businesses and market traders.

According to iPayLinks, this will help simplify the payment process by vendors in the region, which in turn will boost revenue and avoid additional fees.

With companies such as Tencent Group, Vision Capital, Legend Capital and many SEA funds, iPayLinks has an impressive financial network in Asia, the European Union and the United States, with more than 2,000 e-commerce merchants worldwide from different sectors such as e-retail. And OTAs and virtual content, with iPayLinks comprehensive payment solutions services.  LINK

Clare:  AWESOME TO READ THIS! FRANK TOLD US SO... WS TOLD US, "EVERYONE KNOWS".  IMO

Rommy:  Yep!!!  Iraqi citizens are ready to shock the world when they make a quantum international technology leap!

McDan:  Also in Franks opinion by what I remember China will help raise the value of the Iraq Dinar through Trade a while back .  Thank another True statement from the past

News, Rumors and Opinions Thursday Morning 8-15-19

Operation Disclosure

RV/INTELLIGENCE ALERT - August 15, 2019

(Disclaimer: The following is an overview of the current situation of the world based on intelligence received from several sources which may or may not be accurate or truthful.)

According to sources, the global economic transition is expected to begin this month.

Several events will occur during the global economic transition.

The bond market is in the process of collapsing and new asset-backed bonds are expected to be issued.

The US Dollar will suddenly devalue and a trade deal with China will save it.

This trade deal with China was already made behind closed doors but not officially signed.

The trade deal will force the US to return to the gold standard which will cause deflation therefore bringing back the US Dollar.

The IMF is expected to announce a new gold treaty after the US returns to the gold standard.

The last phase of the global economic transition is the complete dismantlement of the fiat financial system.

Once the fiat financial system is dismantled, the  Alliance will implement a new (gold-backed) financial system.

All countries will be forced to adopt the gold standard and all debt will be forgiven.

The RV is expected to occur before the global economic transition begins.

The implementation of a new (gold-backed) financial system will check mark an item off the GESARA agenda.

https://operationdisclosure1.blogspot.com/2019/08/rvintelligence-alert-implementation.html

TNT:

Harambe:  Bloomberg: Iraq and Kuwait Are Beginning a Beautiful Friendship  (8/15/19)

I first visited Safwan, a dusty town on the Iraq side of the border with Kuwait, in early 2003, a few weeks before the start of the U.S.-led invasion. Coalition forces were deploying a few miles to the south, waiting for the order to smash through the long manmade berm separating the two countries. Laith, my government-appointed Iraqi minder, knew what horrors were to come.  

As a young infantryman during the 1991 ejection of Saddam Hussein’s troops from Kuwait, Laith had lost many comrades in that vicinity. In the retreat, he had carried the body of one soldier for several miles, and buried it in a ditch on the Iraqi side of the border late one night. He had meant to recover the remains eventually, for a proper internment. But it was months before he was able return, and by then he couldn’t recognize the landscape. 

It haunted Laith still, the thought that the soldier’s family would never know where their son lay. “Maybe he’s there, under all that mud,” he said, pointing despairingly to the berm.

I was thinking of Laith’s story last week, when I saw images of a solemn ceremony at Safwan: Iraqi soldiers, led by an army major general, handed over the remains of 48 Kuwaitis who had disappeared during the 1990-91 occupation. More than 550 other Kuwaitis remain unaccounted for — and nobody knows how many hundreds of Iraqi soldiers were hastily laid to rest in the dark. But at least some families can now bury their dead.

The ceremony also marks an important milestone in the journey Kuwait and Iraq have traveled toward normal relations since the fall of Saddam Hussein in 2003. The dictator had encouraged Iraqis to regard the little emirate much as mainland Chinese view Taiwan: a rogue province that must one day return to the motherland. These days, Iraqi leaders say bygones should be bygones.  

Last month, Prime Minister Adel Abdul Mahdi declared that “the future prospects are far greater than the fears and obstacles between the two countries.” Earlier in the summer, Kuwait’s emir visited Baghdad, his first solo trip there; President Barham Salih of Iraq traveled to Kuwait City for the first time last winter. 

This diplomatic confidence-building has great strategic purpose for Baghdad. Iraq, caught between two regional crises — the faceoff between the U.S. and Iran in the Gulf, and the deepening animosity between Saudi Arabia and the Tehran regime — recognizes Kuwait as a relatively safe harbor. The emirate maintains cordial relationships with all three of those antagonists, allowing it to deepen economic ties with Iraq without arousing suspicion or animosity.

For Kuwait, Iraq is a giant market and investment opportunity at its doorstep. It is also an escape from other tensions in the Arabian Peninsula. It is wary of the growing ambitions of Saudi Arabia and the United Arab Emirates in the Gulf Cooperation Council, and uncomfortable with the embargo imposed by those countries (along with Bahrain and Egypt) on Qatar. Iraq is one of the few places in the neighborhood where Kuwait can stretch its foreign-policy legs. 

This overlap of interests is already bearing fruit. Iraq and Kuwait are planning to jointly develop oilfields, one of them in the Safwan area. It’s an opportunity to set aside decades-old disputes over the ownership of the land, and what lies beneath. (Remember that Saddam Hussein, in building a justification for the 1990 occupation, claimed Kuwait was stealing Iraqi oil.) Kuwaitis have also been helping the development of gas fields in southern Iraq. For Baghdad, these projects hold out the possibility of developing a hydrocarbons strategy independent from Iranian, Saudi and U.S. interests. 

Beyond oil, Kuwait has promised to invest heavily in the reconstruction of Iraqi cities devastated in the war against the Islamic State. There are also plans to set up special economic zones on the border, allowing each side freer access to the other’s markets; last month, the commerce ministers of both countries visited a potential site for one of these — in Safwan. 

It will probably be years before all the remains of the 1990-91 conflict are found; my minder Laith, who fled Iraq after Saddam Hussein’s fall, will never locate his fallen comrade. But Iraq and Kuwait are burying their differences, and that’s good for everyone.

https://www.bloomberg.com/view/articles/2019-08-15/iraq-and-kuwait-are-beginning-a-beautiful-friendship

Courtesy of Dinar Guru:

Even though parliament isn't in session...can they still revalue the currency? 

Dinar Investor - Jeff  : The answer to that is yes and no.  Let me tell you why it's yes.  Technically there are laws in place.  The CBI is completely autonomous from the government.  They are a separate group, a separate structure. 

They do their own thing with the money. 

The government does their own thing with laws and legislation. 

BUT in this instance the CBI made it very clear they are seeking stability.  That's why we're waiting on the formation of the government.  Because of how much money has been stolen from the government. 

This is very important to Iraq to remove all the corruption and get a solid formed technocrat government in place...

Will the smaller denomination come out before the RI/RV? 

 In my opinion, no...Banks are stocked and ready to go. Basically the day the rate changes the banks will have the drawers stocked ready to start passing them out. 

It's that simple.  So no they are not going to come out ahead of time. 

They'll come out the same morning that the rate changes.  It's all going to happen together at the same time...

Lynette Zang:  US Consumers Are "Tapped Out".......

Streamed live 16 hours ago

https://youtu.be/YbjMbULFojQ?t=1

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Lynette Zang:  Record Low Yield Curves and the Bond Crisis Black Hole

Streamed live 16 hours ago

https://youtu.be/Urh05jo9FPY?t=1