Don961: More pressure … imo…
GreenClan: NOW THIS IS HUGE>…..thank you
World Bank may sanction Iraq for ‘non-compliance’
March 12 2018 12:12 PM
World Bank may sanction Iraq for ‘non-compliance’
The World Bank may sanction Iraq for non-compliance, Iraqi economist Manaf al-Sayegh said on Monday.
In a statement, Sayegh said that the World Bank cannot halt or impede voting on 2018 budget as it is considered Iraqi internal affair, adding it only can punish Iraq by preventing it from borrowing.
It may also impose a special fiscal policy that makes it financially burdensome for Iraq and it may suffer for years because of sanctions
Al-Sayegh stressed that it is better for Iraq to submit its new financial policy to the bank after the approval of the budget.
The World Bank in Iraq manager Yara Salem has criticized the mismanagement of Iraqi economy due to the increase of public servants who are redundant.
She stressed the importance of the partnership between the private and public sectors amid the challenges facing public corporations.
Salem confirmed that Iraqi economy is suffering from many problems including unemployment and high production costs of the public companies.
These problems are main obstacles that contest reform and reconstruction process. link
Aggiedad77: THIS RINGS WELL TO ME……IF IT’S IN PRINT THEN WE HIGHLY SUSPECT IT HAS BEEN DONE……AND I’M SUPPOSING HERE THAT THEY HAVE TAKEN INTO ACCOUNT THE NEEDS OF THE WB AND THE IMF AND THE REST OF THAT THREE-HEADED MONSTER AND THEY ARE WILLING TO COMPLY…..
ABADI IS PUSHING FOR ACTION WITH REGARD TO DEALING WITH CORRUPTION AND WE’VE SEEN EVIDENCE OF HIM OVERTURNING ROCKS TO GET THE COCKROACHES TO SCURRY AWAY…..
THOSE WHO ARE DUPLICATES ON VARIOUS PAYROLLS…..THESE SHENNANIGANS NEED TO STOP….AND HE’S PUSHING MORE AND MORE TOWARDS THAT…….HE’S TRYING TO TURN THE TIDE ON UNEMPLOYMENT……GET THOSE WHO ARE REALLY OFF WORK GAINFULLY EMPLOYED AGAIN…..
THAT LONG LINE COMING INTO IRAQ WANTS TO HIRE THEIR WORKERS…..YOU RUB MY BACK I’LL RUB YOURS…..IMO THEY DO NOT WANT MORE SANCTIONS….THEY DEFINITELY DO NOT NEED THEM…..SO SHOW THE WORLD YOUR NEW FINANCIAL POLICY…..NOW IS NOT A TIME TO BE BASHFUL….
YOU SAW UNCLE FRANKIE CELEBRATING YESTERDAY……GET IN THE SPIRIT…..TODAY YOU SEE DELTA DOING THE SAME…..SHOW US…..DON’T BE BASHFUL…..LET THE WORLD SEE ALL YOU HAVE…..WELCOME THEM WITH OPEN ARMS…..WITH INTERPOL’S HELP GET RID OF THE CORRUPT….AND THE CORRUPTION. ALOHA RANDY
PMac: Now why would SA go and do a thing like that???
whatever: Well the Saudi Prince netted 100 Billion+ from sequestering corrupt business, government and family members, so I see him spreading goodwill to other Arab nations. I don’t really believe it has anything to do with the IQD, Iraq needs a lot of help afterall..IMHO..
China is One Signature Away From Dealing the Dollar a Death Blow
March 12, 2018 from Birch Gold Group:
If you leave your sliding glass door open, you might let in a stray cat, raccoon, or bugs without knowing it.
Some intruders are worse than others. All can be annoying. But let in a thief, who robs your home… and it only takes that one time to change your life forever.
The U.S. has essentially left their “sliding glass door” open, and on March 26 China is set to become the intruder that may very well deal a death blow to the dollar.
China Prepares Death Blow to the Dollar
On March 26 China will finally launch a yuan-dominated oil futures contract. Over the last decade there have been a number of “false-starts,” but this time the contract has gotten approval from China’s State Council.
With that approval, the “petroyuan” will become real and China will set out to challenge the “petrodollar” for dominance. Adam Levinson, managing partner and chief investment officer at hedge fund manager Graticule Asset Management Asia (GAMA), already warned last year that China launching a yuan-denominated oil futures contract will shock those investors who have not been paying attention.
This could be a death blow for an already weakening U.S. dollar, and the rise of the yuan as the dominant world currency.
But this isn’t just some slow, news day “fad” that will fizzle in a few days.
A Warning for Investors Since 2015
Back in 2015, the first of a number of strikes against the petrodollar was dealt by China. Gazprom Neft, the third-largest oil producer in Russia, decided to move away from the dollar and towards the yuan and other Asian currencies.
Iran followed suit the same year, using the yuan with a host of other foreign currencies in trade, including Iranian oil.
During the same year China also developed its Silk Road, while the yuan was beginning to establish more dominance in the European markets.
But the U.S. petrodollar still had a fighting chance in 2015 because China’s oil imports were all over the place. Back then, Nick Cunningham of OilPrice.com wrote…
Despite accounting for much of the world’s growth in demand in the 21st Century, China’s oil imports have been all over the map in recent months. In April, China imported 7.4 million barrels per day, a record high and enough to make it the world’s largest oil importer. But a month later, imports plummeted to just 5.5 million barrels per day.
That problem has since gone away, signaling China’s rise to oil dominance…
The Slippery Slope to the Petroyuan Begins Here
The petrodollar is backed by Treasuries, so it can help fuel U.S. deficit spending. Take that away, and the U.S. is in trouble.
It looks like that time has come…
A death blow that began in 2015 hit again in 2017 when China became the world’s largest consumer of imported crude…
Now that China is the world’s leading consumer of oil, Beijing can exert some real leverage over Saudi Arabia to pay for crude in yuan. It’s suspected that this is what’s motivating Chinese officials to make a full-fledged effort to renegotiate their trade deal.
So fast-forward to now, and the final blow to the petrodollar could happen starting on March 26. We hinted at this possibility back in September 2017…
With major oil exporters finally having a viable way to circumvent the petrodollar system, the U.S. economy could soon encounter severely troubled waters.
First of all, the dollar’s value depends massively on its use as an oil trade vehicle. When that goes away, we will likely see a strong and steady decline in the dollar’s value.
Once the oil markets are upended, the yuan has an opportunity to become the dominant world currency overall. This will further weaken the dollar.
The Petrodollar’s Downfall Could be a Lift for Gold
Amongst all the trouble ahead for the dollar, there are some good news too. The U.S. might have ditched the gold standard in the 1970’s, but with gold making a return to world headlines… we could see a resurgence.
For the first time since our nation abandoned the gold standard decades ago, physical gold is being reintroduced to the global monetary system in a major way. That alone is incredibly good news for gold owners.