Monthly Archives: February 2014

Shahristani assured the United Nations cut “important way”

Shahristani assured the United Nations cut “important way” of talks in Baghdad and Erbil over oil Alsumaria News / Baghdad Deputy Prime Minister for Energy Hussain al-Shahristani, on Thursday, a representative of the Secretary-General of the United Nations in Iraq Nikolay Mladenov that the talks between the federal government and the Kurdistan region on the […]


FL caller:  I’m super-fantastic as well.  Since the GCR is going at the same time as the RV, is the rupiah still in this?  Yes?  And the Zim?

Tony:  I cannot confirm or deny on the Zim.  The rupiah is still in the basket.

Caller:  So now the back wall is Monday if things don’t happen before then?  Then what about the 60 days…

Tony:  I don’t know if they will adhere to that or not.  What that


TNT Call 28-Feb-2014 Notes

Tony:  Good morning, TNT!  Here we are again, another Friday morning, and I’ve been talking to the crew about how to do this call.  I’m trying to remember what I’m supposed to tell you and not supposed to tell.  What we have been looking all week, everybody is still looking for it.  We discussed Iraq this morning – M tried to pull something again but it was corrected

Iraqi Communist refuses to use the budget for political

Iraqi Communist refuses to use the budget for political threat Rejected the leadership of the Iraqi Communist Party, Raid Fahmi, the use of the budget law as a pressure and political threat, calling for the need to speed up the approval. While Deputy in the parliamentary Finance Committee, that the economic situation is solid for the […]

Pastor Ed’s International Prayer Call Friday night 7pm est

International Prayer Call Friday night 7pm est

530 881 1400   406878#
530 881 1499   406878#   recorded version

lso daily 1pm est 559 726 1300   143425#

The day you accepted Jesus as your savior you then crossed the finish as a winner. After that you became the winner not the loser, the head not the tail, the victor not the victim, the best of the best, the highly blessed to be a blessing. Sooo how do we get all of Gods blessings in our lives, join tonight to learn how.

God Bless

Pastors Ed & Kat

Thanks Dinar Recaps for all your help

Forex – The Australian Dollar was lower against the U.S. Dollar on Friday.

AUD/USD was trading at 0.8930, down 0.40% at time of writing.

The pair was likely to find support at 0.8905, Thursday’s low, and resistance at 0.9049, Monday’s high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 1.12% to hit 1.5463 and AUD/JPY falling 0.49% to hit 91.11. offers an extensive set of professional tools for the financial markets.
Read more News on and download the new Stocks & Forex App for Android!

Forex – The Australian Dollar was lower against the U.S. Dollar on Friday.

AUD/USD was trading at 0.8930, down 0.40% at time of writing.

The pair was likely to find support at 0.8905, Thursday’s low, and resistance at 0.9049, Monday’s high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 1.12% to hit 1.5463 and AUD/JPY falling 0.49% to hit 91.11. offers an extensive set of professional tools for the financial markets.
Read more News on and download the new Stocks & Forex App for Android!



Friday Morning News Summaries by Aggiedad77

aggiedad77 » February 28th, 2014,

Friday Morning News Summaries

Maliki’s office: We will pay the salaries of the staff in February to Kurdistan to be pumping oil revenues and the entry in the general budget

Maliki came out today and announced that salaries for February will be paid, especially to those employees of the Kurdistan and that the federal government is not responsible for holding up their salaries….he is claiming the Kurds are given 17% of the federal budget and payments to employees are to come out of that…..

M claims what is going on is attempts by some Kurds to stir up nationalism….well I for one think it is Maliki who is stirring things up… he is trying to cover things up….like a cat….he is one, the Kurds are many….I can’t believe that so many Kurds would all be saying the same thing regarding what they believe are salaries being withheld by Baghdad…..

Maliki goes on to blame the Speaker Najafi for not bear responsibility for the budget by not even accomplishing the first reading….sounds like he is slinging barbed arrows in all kinds of directions….I sense he is not a happy camper…..he says that oil has not flowed from the Kurdistan for them to earn revenues because of the budget hold up. Shaking my head at the futility being exposed here.
Read More Link on Right

Kurdistan is the warnings of the deteriorating economy, “election propaganda” and warns of the Liberal prejudice to the Central Bank reserves

Here we still see the Kurds complaining about the federal government cutting off salaries for region employees….they claim what is going on with this issue is election propaganda, because the federal government has the resources to make these payments for salaries from daily exports of oil and other items. What a difference between two articles….this one quotes Maliki on Feb 26 as saying the political blocs are actively working to prevent the organization of the upcoming elections and that failure to ratify the budget “will mean non payment of salaries for retirees, employees and students, and social welfare payments….some are saying that the government will need to borrow from the CBI to make payments, but in doing so this will create dangerous situations. Amongst all the mud slinging there are also some hardballs being thrown back and forth and sometimes they get difficult to dodge. At this point it is difficult to declare a winner yet.

Finance: Emergency funds received by the local government of Anbar

Frank……here is another $1 billion dollars being mentioned again….this time with the province of Anbar……being withheld from funds being disbursed for displaced families from Anbar….they are saying this remaining money….again…$1 billion dollars must be entered into the federal budget…..why USD….why not dinar like all the other transactions for these families….makes one go hmmmmm.

[Arabtec] major Gulf companies plan to open an office in Baghdad

Arabtec will be opening an office in Baghdad soon….they are the largest construction company in the Gulf in terms of market value. They will be looking forward to taking part in investment strategies that are now presenting themselves.

Government Electronic voter card is an official document fifth

The Secretariat General of COM has declared that the e-cards for voters will be a way to provide proof at the voting centers of who the person is that has not been in the process before…..he strongly discourages the selling of the cards or reassignment of them to others is expressly forbidden and will come with a penalty.

Kurdistan Alliance: There are no hidden pipes for fuel smuggling to Turkey

The Kurds are denying any report of hidden piping along the pipeline route from the Kurdistan to Ceyhan, Turkey that have designs to be used for smuggling oil to Turkey…..but the Turkish government seems to think otherwise…seems they have discovered a 500 meter pipeline at the Iraq/Turkey border that could definitely be part of a smuggling operation if it were to be used.

Reference warns of sale card and alienate the election and calls to speed up the passage of the budget and solving problems constitutionally

The ruling authority in Karbala is making a statement that people are in need of money….in these times they see little if any use of the e-card they are given except that there are those who will buy them…..the card does nothing about putting food on the table….the money does. The Karbala leadership is calling for a swift agreement on the budget so that things can be pushed forward and programs can be implemented to help the people of Karbala who suffer from many environmental issues that require attention.

Najaf Commission: 40% of the distribution of voters’ cards at a rate of 13 000 per day card

The province of Najaf appears to be making good progress in distributing the voter e-cards…having doled out 40% of their cards to date… a rate of 13,000/day. The UNHCR reported yesterday that 6 million cards have been reported as distributed across the country out of 21 million known voters.

Urgent .. Baghdad province bearing the responsibility of delayed salaries of its staff and declare sent their salaries for the month of February compared to the oil pump

A slightly different translation to an earlier article put out by Maliki’s office that again states that it is not the federal government that is cutting off salaries to the Kurds….they are doing this to themselves, that the salaries are incorporated into the 17% they are receiving from the federal government…..well we all know that 17% amount is another point of contention for the Kurds, they claim they are only receiving around 10%….but one has to wonder if the Kurds are really telling the full story….or attempting to get national sympathy…..I think their sympathy card is about to be rejected….the other people of Iraq are growing tired of their constant bickering with Baghdad.

Experts warn of economic paralysis as a result of the crisis in Kurdistan and Baghdad contend with: the provincial government has alternative solutions

The Kurds hold steadfast to their voice that says the Kurd employee salary issue rests squarely upon the shoulders of Baghdad and specifically on Maliki’s shoulders. They are adamant in this stance and have refused to back away from it….not just the politicians but the economists of the region as well….can so many be so wrong about this….I don’t think so…..this sounds and looks like a Maliki effort in every way. They are worried about an economic paralysis if the crisis is not stopped soon….there must be solutions made with Baghdad. The problem at this point is neither side appears ready to compromise….this will only continue to hurt all Iraqis in the pocketbook.

Routine and the Ministry of Oil and the corruption of officials alienate oil companies to invest in Iraq

Red tape and corruption all over the place have caused some major oil companies to threaten to pack up their tools and walk away from Iraq. Their actions have seemed to grab the attention of the Oil Ministry who is trying to resolve issues that have been brought up. There have even been issues with visas that were not renewed for oil field workers….come on people…you want to be the king of the oil producers….well it comes with a price….and it isn’t cheap…..poor boy Saddam oil company is gone….get into today’s technology if you expect to compete in the big leagues…..get your poop grouped and get the contract issues worked out….post haste….like yesterday….drilling programs work on a schedule….and not an Iraqi schedule….so sign on the dotted line then get out of the way and let these people do what they do best….punch deep holes in the ground….stop the corruption already….there will be plenty of time to pad your pockets….later….get the black gold flowing first.

Najafi: Kurds are the closest to us ideologically and geographically and culturally

So the two Najafi brothers are in the Kurdistan at the same time….seeking solution to the budget issues and also to talk about the problems in Anbar…..then the one brother, governor of Nineveh was speaking with Barzani about a possible political alliance between Nineveh and the Kurdistan…..interesting timing……especially when Speaker of the Parliament…the big brother Najafi was also seeking some help from the Kurds as he wishes to become President of the Republic….I hope he can do a better job in that position than the one he currently holds…..he brought with him some key members of the Coalition United bloc from Anbar….all to help the Kurds make some choices and decisions about the budget going forward…..what will we see next week as a result of these meetings on Thursday.

Barzani and Responsibility

A rather well written article that puts some pressure to Barzani to fill his Cabinet….quit dragging his feet on this issue and take control….they also are asking when will the Kurds be seeing salaries again…that enough is enough. Make amends with Baghdad but stay true to your people.

Khatib F Fallujah: al-Maliki wants to ignite the country to ensure they stay in power

This came from a mosque this morning during prayers, against Maliki accusing him of trying to ignite the country to keep him in power as dictator….even in eliminating his opponents for the upcoming election….pointing to the withholding of salaries in the Kurdistan….then to the situation in Anbar as not getting better….insisting on the army being pulled out and negotiations started in earnest.

Here is the end of the morning News Summaries


Chinese Yuan Currency In The News


  Chinese Yuan Becoming Dominant Reserve Currency Survey  Published time: February 27, 2014 23:44

The Chinese yuan can overtake the dollar as the leading international reserve currency, a new poll of institutional investors indicates.

The authors of the survey, conducted by the Economist Intelligence Unit and commissioned by State Street financial services, polled 200 senior executives at institutional investors with knowledge of their exposure to yuan assets.

Read More Link On Right

Half of the respondents were from the firms headquartered in mainland China (including Hong Kong and Taiwan) and the other half were based elsewhere.

The report accompanying the survey points out that by the end of 2013, the yuan has risen to become the second-most-used trade financing currency and ninth-most-used currency for payments globally.

A majority – 53 percent of respondents said that they believe the yuan will one day surpass the dollar as the top currency in international holdings of foreign-exchange reserves. In China 62 percent expressed this opinion, compared to 43 percent of respondents outside the country.

Last May International Monetary Fund analysis showed that the dollar had slumped to a 15-year low, heightening concerns that it may lose that status as global reserve.

Chinese officials are diligently working on sustaining their national currency, promoting it beyond the frontier. In October 2013, the government of China agreed a pilot program to create a UK based yuan hub that allows London investors to buy up to $13.1 billion (80 billion yuan) of stocks, bonds and money market instruments directly, avoiding Hong Kong transactions.

The move gave the yuan a firmer footprint in Europe and helped to overcome the euro in December, becoming the second most widely used currency in global trade.

Only 11 percent of respondents have said that they do not expect the yuan to become a major reserve currency, a split between 16 outside China and six onshore, according to the poll. Among the former, the most often cited reasons are that the yuan will never enjoy enough liquidity across all asset classes to offer a viable option as a reserve currency, and that people will not trust the yuan as a store of value, the survey says.

The very few pessimists from China-headquartered institutions, meanwhile, say that people would be “concerned about future policies of the Chinese government and opposition from other economic powers, such as the US, the EU and Japan.”

But the consensus is that one day it will be a yuan world, according to the survey.

“As China’s economic influence grows, the global importance of the renminbi (yuan) will become magnified. Indeed, while for decades it has been a ‘greenback world’, dominated by the US dollar as the world’s primary reserve currency, many think a ‘redback world’, in which the renminbi enjoys premier status, is increasingly a possibility,” the survey’s authors concluded.


Yuan ranked 7th “most used” currency in January 2014-02-28 18:53:44

  BEIJING, Feb. 28 (Xinhuanet) — The Chinese yuan became the seventh most used currency in January, surpassing the Swiss franc. That’s according to global transaction services organization SWIFT.

The yuan now claims 1.39 percent of market share after payments increased 30.6 percent last month.

Still, the transactions remain heavily lopsided as Hong Kong has clinched a market share of 73 percent, followed by the UK, Singapore, Taiwan, the United States, France and Australia.

The yuan has overtaken 22 currencies during the past three years, including the Singapore and Hong Kong dollars.

The Chinese government has steadfastly promoted the yuan, notably clarifying details last week for cross-border yuan transactions in the Shanghai free trade zone.


Renminbi’s fall marks seismic shift   By Josh Noble and Ralph Atkins

Chinese one-hundred yuan banknotes are arranged in a bowl for a photograph in Hong Kong, China, Tuesday, December 10 2013©Bloomberg

Compared with the recent turmoil of double-digit currency devaluations and political unrest in other emerging markets, a modest fall this week in China’s currency was an unlikely cause for global alarm. But, as with many things, China is different.

An unexpected slide in the renminbi – supposedly carefully-managed and stable – led to a surge in speculation about Beijing’s control over the world’s second-biggest economy and rattled financial markets, at least until attention was diverted by Ukraine.

In the past nine trading days, the renminbi has dropped around 1.4 per cent against the dollar to Rmb6.14 – levels not seen since last summer. The week-long fall is the steepest since 2005, when China unhooked its currency from the dollar.

Whether the currency’s drop is just a blip or hints at bigger problems will be crucial for other emerging markets – with greater use of the renminbi increasing contagion risks – and in turn developed economies.

How much the world should worry is a controversial question, however.

“The majority of people are sanguine and then there is a small group which is highly critical. It is not that they are looking at different data – which we all know is opaque – but it is differences in interpretation that make some people very worried,” says Andrew Milligan, global head of strategy at Standard Life Investments. “It is difficult with China to have shades of grey.”

The renminbi was long viewed as a one-way bet. Since China last loosened the controls on its exchange rate in 2010, the currency has risen 10 per cent against the US dollar.

That slow, steady appreciation was backed by rising capital inflows, strong economic growth and the broader feeling that China had arrived as a global powerhouse.

China’s currency has also been carefully managed by the government.

Its exchange rate is fixed each day by the central bank and can only rise or fall by a maximum of 1 per cent.

Such low volatility, and the near-guaranteed appreciation, made the renminbi a popular and lucrative bet, especially for those willing to take on leverage or dabble in structured products, hundreds of billions of dollars of which have been sold by banks in the past year.

While this week’s currency decline might appear small, both the speed and the direction have made it a seismic shift. Scotiabank analysts described the move as a “bloodbath”.

Some investors have sensed something sinister, and raised concerns that China was seeing a rapid outflow of capital as economic conditions worsen. Recent data showed manufacturing in contraction and a property market on the turn.

Worries about rising defaults in the shadow banking system have heightened fears that China might yet face an economic hard landing.

The currency sell-off also carries echoes of last June, when a spike in China’s interbank lending rates upset markets worldwide.

At one point, overnight borrowing costs within the mainland leapt to 25 per cent, with some questioning whether the whole Chinese financial system was cracking after years of rampant credit growth.

My guess is that this [currency slide] is deliberately engineered, it is not an accident since they [the Chinese authorities] have managed the process of appreciation extremely well. But the amount of things going on in China means it is very difficult to interpret

– George Magnus, a senior adviser at UBS

Chinese authorities themselves have said that “market forces” are behind the move in the renminbi. The State Administration of Foreign Exchange (SAFE), which manages China’s FX reserves, said the week-long drop was nothing unusual and should not be over-interpreted.

However, most China-watchers believe the currency slide is not a symptom of some deep malaise, but rather an engineered policy by the authorities to stamp out currency speculation, introduce two-way volatility and stem the tide of “hot money” inflows. This week’s move could also pave the way for a widening of the daily trading band.

“My guess is that this is deliberately engineered, it is not an accident since they have managed the process of appreciation extremely well. But the amount of things going on in China means it is very difficult to interpret,” says George Magnus, a senior adviser at UBS.

“It’s very different from June. If it’s the financial system crashing, you should see interbank rates moving higher,” says Wei Yao, China economist at Société Générale. Current interbank lending rates are at their lowest in almost 12 months, and have fallen sharply since the start of the year. “It is intervention from the central bank,” Ms Yao adds.

Hamish Pepper, FX strategist at Barclays, says the People’s Bank of China and SAFE remain in control of the market, and are using their weight to ward off speculators.

“What the PBoC are trying to do is break the assumption in the market that the renminbi will always appreciate,” says Mr Pepper. “We’re still talking about a very managed exchange rate . . .

 That control that they have in the foreign exchange market is just one example of the control that they have over the broader economy.”

For fresh clues about China’s prospects, investors will watch closely next week’s National People’s Congress, which is expected to provide guidance on 2014 growth and the economic reform plans. Regardless of the outcome, many will remain wary.

“Is there a problem or two with China? Yes, there are a series of complex problems,” says Mr Milligan at Standard Life. “Are they likely to erupt into a crisis in the near term? Probably No. Does this mean the Chinese economy is likely to slow because the authorities have less room for manoeuvre? Certainly.”