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Featured Post

"Released" - New Republic Update - Thursday - October 20, 2016

Received via email at 9:00 PM EDT for publication. ~ Dinar Chronicles ---------- ​Republic Update Thursday October 20, 2016  ------...

Friday, October 7, 2016

KTFA News Highlights and Thoughts 10-7-16


Don961 said (Post #112) Currency Auctions Announcement No. (3292)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraqon 6/10/2016 and the results were as follows:


Number of banks 29

Number of remittance companies 14

Auction price selling dinar / US$ 1182

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 135,754,750

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 135,754,750

Total offers for selling (US$) -----
$135,754,750 / ( 29 + 14 = 43 ) = $3,157,087 average per entity

1. quantity sold to banks from the date of 01.03.2016 until 06.10.2016 (23,933,507,886) dollars.

2. quantity sold to banks from the date of 04.01.2015 until 06.10.2015 (33,422,201,355) dollars .

$33,422,201,355 - $23,933,507,886 = $9,488,693,469 less than @ this time last year
Weekly totals :

Last week : $572,300,040

This week : $520,798,167

$572,300,040 - $520,798,167 = $51,501,873 less sold this week than last week

Also notice .... except for the Sunday holiday ..... daily number of banks involved , 29 , except 1 day there were 32 .... number of remittance companies each day was 14 .... usually 15 ..... fewer entities involved each day ...... which is in a downtrend this week also ... IMO mathematically

Eight Conditions For The Advancement Of The Iraqi Economy

Date: October 6, 2016 In: Studies , bar news , economic pen

57520bbfeeb37 Writer / Hamid Abdul Hussein al - Jubouri

All countries are interested in building a safe and healthy problems and imbalances that have a negative effect on the economy and society in the economies as they arise, or the failure to take the necessary tactics and ensure Bajtthatha and procedures.

The problems are generally not to achieve economic balance, meaning that the total supply does not equal the total demand, and this is what pays more unemployment and higher general level of prices and low economic growth and lack of improvement in balance of payments position.

The building of the economy as well, needs to set the requirements and most importantly provide the administration with efficiency and the ability to diagnose problems and find appropriate solutions and ensure dissolution,

and with the capacity to accommodate members of the country and recruited to serve the economic development process in a manner consistent with their customs, traditions and beliefs, it can not achieve economic development unless it reacts members of the country with what is intended to achieve in any field, including the economic sphere.

Also, the elements of the economy of any country is the availability of raw materials, capital and manpower arable land and agricultural real estate and other uses. But there is evidence that the availability of these ingredients in many countries but was unable to build its economy,

such as Iraq and the Gulf states and others, and the other hand there are countries that lack these ingredients but they were able to occupies an advanced rank in the world economy such as Japan,

for example, the simple reason is the availability of efficient management with clear vision goals, to make its members aware of everything that is intended to reach him, this is what makes each individual works to serve the vision of the administration and work to achieve them,

because the individual feels that the work to achieve that vision, the benefit it, and that's what she was able to sow the Japanese administration in the hearts of its members and therefore able to accommodate its members and their construction properly serve the process of building a strong economy.

Iraq has the most Shall not transport per-ingredients such as land, labor, capital and raw materials, in addition to the very important advantage is that Iraq has the ability to achieve qualitative leap under the right environment, which makes it able to build its economy and achieve the advanced ranks of the world offers ,

but it suffers from significant challenges, including internal and the other external, the most important Valdakhlah mismanagement caused by the absence of clear vision and have the mechanisms applied to the fact, that was the results the prevalence of corruption and the disruption of the economy, increased unemployment and the dissolution of society.

The Foreign it is globalization that most countries of the world governing Whether we like it or not and where we feel or not feel, led by the United States, through their tools of the International Monetary Fund and the World Bank for Reconstruction and Development and the World Trade Organization.

In order to face internal and external challenges and work to build a healthy economy does not need attention several things, including:

First, to make way for the participation and oversight of the private sector

The state must give way to the private sector to participate in the process of building a capable job creation economy without the presence of disguised unemployment, because the private sector will lose in the case of disguised unemployment appearance

This is the case of the public sector in most countries followed the socialist system, and the private sector be more efficient in the quality of output and the exploitation of resources and less waste of their public sector. It is possible to enter the public sector to the participation of the private sector to gain the advantages of social thinking owned by the public sector and gain production efficiency of output enjoyed by the private sector an advantage,

but even in the absence of participation the state should monitor the performance of the private sector to prevent the production of everything that would be harmful to the country's economic and socially, militarily and politically. So that the private sector work within the principle of "Do not overheat or negligence."

Second, banks interest-free

Under the rule of the benefits system, the owner of the capital prefer to lend money to an interest rate on employed in productive projects, because the interest rate is guaranteed in any case will also prefer to lend money to short-term, and this will have borrowers as long as the order to meet soon to use their money in short-term projects, to be in the amount they could get back on time with agreed interest to the capitalist creditor.

In addition to this, the businessmen under the interest rate regime, will not submit to borrow capital from the capitalists and employed in a business or industrial, unless demonstrate the circumstances that they can get a profit of more than the interest charged by the capitalist, this Ieigahm practice of many forms of activity in many circumstances.

But when you cancel interest, turning capitalists moneylenders to shareholders dealers directly in various commercial and industrial projects, they will find it in their interest-sufficiency with less profit because they could not be forced to hand over part of it as the benefits, and you will find it in their interest to also employ in excess of their need for profits in projects implemented production and trade, thus achieving the whole output to spend a consumer spending and a productive,

instead of freezing part of it in the pockets of moneylenders in spite of the need of Commerce and Industry to him, to stop the discharge portion of the products on spending. It should synchronization with the cancellation of benefits to prevent the migration of capital towards the outside in search of benefits system, to ensure that activated at home by taxes on the money chunky, and because of its positive effects will become apparent later.

Third: infrastructure processing

The infrastructure, processing and metadata would increase the speed of the economy to build, as the provision of pure and extending the sewerage network and how waste transport and treatment and to provide electricity, education and health services, housing and water transport networks,

it is an essential foundation for any progress in the country and facility development very important for any society sophisticated, which relies upon other development facilities and provided the basis, the more sophisticated they lead to reduced production costs and vice versa, so it is important to focus intensive care and keep pace with the evolution of the world advanced level.

Fourth, activate social security

Social Security plays a significant role in supporting the private sector, as the sense of the individual as guaranteed by the state and the generous level of life is guaranteed to him, even if lost in the project, representing an asset psychologically significant, increases the courage, and push it to the various fields of production, and develop it creativity and innovation element unlike the one who loses the guarantee,

and the guarantee, it is often reluctant colors of activity and renewal, for fear of the potential loss that not only threatens his money, even threatening his life and dignity as long as it will not find the guaranteed and provides a means for a decent life, if he loses his money and lost in the midst of the lack of social security, and for that will not Taatih that courage and determination that motivate social security in the minds of people living under Islamic rule.

Fifth, the taxation of money chunky

Leads injections economy disproportionate spending with available resources, in order to avoid the emergence of economic imbalances, the more economic activity, so spending is through the establishment of the state public spending, whether a consumer or investment,

but in the case of a lack of public funds, the state can resort to the imposition of taxes on the money chunky the private sector, which are forced to take out money to the output circuit instead of Aktnazha because under the retaining Bactnaz money be presented to the loss of part of it due to taxes.

To take out the money to the output circuit leads to more investment and labor demand exerting downward pressure on unemployment, it means at the same time increase economic growth as well as improving the balance of payments, and that means getting rid of the imbalances and economic problems and access to finally build a sound economy.

Sixth: The balance between rural and urban areas

Efficient administration should take the issue of the balance between urban and rural areas into account, since that pay more attention to urban economy will be presented to more problems and economic imbalances and thus will not get a good economy.

Those problems and imbalances show through increased migration from the countryside to the city to get smug and services obtained by members of the cities as a result of the interest of the state. Increased migration lead to a decline in productivity and neglect of the agricultural sector and increasing demand for agricultural products and this is what leads to increased imports and increased demand for foreign currency and the depletion and degradation of the domestic currency and for the disruption of the balance of payments on the one hand,

on the other hand lead to generating more pressure on services obtained cities members decreases the level of services and require more spending to expand the service to include the increase that occurred as a result of increased migration from the countryside to the city.

While the attention from the beginning to achieve a balance between urban and rural areas will spend on all the problems that can appear in the case of non-achieved, and the way that we can get the economy does not involve problems of economic and social imbalances.

Seventh: The investment in human capital

The increased attention to human beings as the goal of development and its device requires seamlessly build a good economy, and increased attention to human beings takes place through both sides, namely health, education and the third is the result of the first and the second, a standard of living, as the increased investment in health, education, free of charge, or symbolic,

meaning more spending the like, and this is what drives towards building human sound of the organic and psychiatric diseases at the same time is a person educated, and therefore has the physical strength that makes it able to produce goods and services competently, unlike human patient physically he does not possess the ability to output. He also owns, the intellectual capacity that makes it able to produce innovation in various fields of life, which increases the abundance of production and minimize costs and less time,

but this happens after increasing spending on education, as the intellectual capacity represents a base that accommodates education, accumulate information and increasing expertise standing, creativity and innovation, thereby increasing the level of income that reflects the standard of living.

Eighth: the ground who revived but not absolute

In the event that someone has a certain amount of money it takes to establish a project which aspire whether agriculturally both parts plant and animal, or industrially both parts extractive and transformative, or real estate or tourism ... etc.,

one of obstacles to the establishment of this project is not having the land on which resides the project which leads to the recovery of the region where it is located, and so for other areas, and finally at the level of the economy as a whole in the event of possession of that land,

knowing that the earth is God's gift to the people who are able to revive in order to benefit others who are unable to revive, at the same time can not be someone they possessed big capacity that qualify so that it can revive the most of them and thus makes the individual (who is not Atlk large capacity) under his control

and becomes the first and the last (monopolist) and it becomes who control the fate of the others, so it should be intervention by the state and the distribution of land on the basis of justice and the ability to reclamation and start the least able and up for greater capacity but are not detrimental to the interests of current and future generations.

This is what pushes toward a healthy economy to achieve justice among individuals at the present time and between current and future generations.


 » October 7th, 2016

World Swimming In A Sea Of Debt

Written by Economic news editor
Date: October 6, 2016 In: News Ticker , Arabic and international

The IMF said that the world swim in size to $ 152 trillion in debt.

However, in a report issued, but that the record level of debt {} did not prevent the organization from encouraging some countries to increase spending to boost growth.

He pointed Monetary Fund, to the public and private global debt amounted to 225 percent of global economic output last year, up from about 200 percent in 2002. Link

 » October 7th, 2016

Economic Page IMF reveals the number "scary" to the size of global debt

Ali Abdul Salman 36 06/10/2016 International Monetary Fund said on Wednesday that the world swim in size to $ 152 trillion in debt, but that did not prevent the record level of the organization to encourage some countries to increase spending to boost growth.

The IMF said in a report that the global public and private debt amounted to 225 percent of global economic output last year, up from about 200 percent in 2002.

The fund said that about two-thirds of the total debt in 2015, or about $ 100 billion owed to private borrowers, pointing out that the growth of private debt, usually lead to financial crises.

The report coincides with Christine Lagarde urged the Director of Monetary Governments of the Member States in a position to borrow and spend more fund to do so to boost growth, which suffers from a persistent weakness.

 » October 7th, 2016

Is there something in the works worldwide to stem the tide of all this debt ??chin-scratch_gif... IMO

 » October 7th, 2016

Don961, October 6, 2016 En route to Los Angeles (Simon Black)

“This is a global problem,” said billionaire hedge fund manager Ray Dalio yesterday to a packed audience of central bankers.

“Japan is closest to its limits, Europe is a step behind it, the US is a step or two behind Europe, and China is a few steps behind the United States.”

I can only imagine the mood in the room was a bit tense after that comment.

Mr. Dalio, founder of the $160 billion investment firm Bridgewater Associates, was invited to speak at the Federal Reserve Bank of New York’s 40th Annual Central Banking Seminar yesterday.

Rather than gush about how wonderful the Fed’s zero interest rate policies have been since the financial crisis, Dalio gave them a fire hose of reality.

His primary thesis was that the debt supercycle that has lasted for decades is coming to an end, and that there’s going to be a “big squeeze”.

“The biggest issue,” he said, “is that there is only so much one can squeeze out of a debt cycle, and most countries are approaching those limits.”

The largest economies in the world– Japan, Europe, the United States, and China are racking up record amounts of debt and absolutely nearing those limits.

Just this morning the International Monetary Fund warned that global debt has hit an all-time high of$152 TRILLION.

That’s an astounding figure that’s nearly TWICE the size of the world economy.

But it’s more than that, because in addition to nominal debt, there are further obligations that must be paid– like healthcare and pension programs which are largely underfunded.

We’ve been discussing this a lot lately; in the US, Social Security is completely underfunded and will become cashflow negative in just a few more years.

Soon after it will entirely run out of money.

Dalio summed it up by telling his audience, “There are too many promises that can’t be kept, not only in the form of debt, but also in the form of health care and pension costs. . .”

In other words, not only is government debt, corporate debt, and household debt at record levels worldwide, but pension and healthcare obligations have become impossible to pay.

Bear in mind that all of this is happening at a time when economic growth and productivity are slowing.

This means that while debt is piling up, the ability to service those obligations is actually decreasing.

Central bankers have been desperately trying to hold the system together by keeping interest rates at record lows and printing trillions of dollars.

But as Dalio pointed out to his audience of central bankers, their strategy is also “approaching its limits.”

Yesterday we discussed why central banks are between a rock and a hard place.

If the Fed doesn’t raise interest rates quickly, they’ll be forced to make interest rates negative in the next recession.

But if the Fed does raise interest rates, they’ll cause a massive decline in asset prices, and potentially even engineer the recession that they’re trying to prevent.

Dalio again: “[I]t would only take a 100 basis point [1%] rise [in interest rates] to trigger the worst price decline in bonds since the 1981 bond market crash.”

So no matter which direction central banks go, i.e. to raise or not to raise interest rates, there are severe consequences.

This is why Dalio expects a “big squeeze.” And it won’t be pretty.

A crash in bond prices could easily wipe out bank balance sheets around the world, especially across Europe where most of the banks are already insolvent.

This is the reality of our financial system, not some theory or conjecture. It is dangerously overleveraged and quickly reaching its limits.

And as Dalio began his remarks, it’s no longer controversial to make these assertions.

The question is– what to do about it?

The most important thing is to have some perspective. The world isn’t coming to an end.

Make no mistake, the consequences are severe, especially for the unprepared. But our species has suffered far worse incidents than the collapse of a debt supercycle.

Moreover, there’s nothing that’s going to happen immediately. China, Japan, Europe, and the US aren’t going to default tomorrow morning.

This is a slow-moving train where the consequences pile up little by little.

Today we can already see early stage capital controls in Europe, corporate defaults in China, multiple debt-ceiling crises in the US, and negative interest rates around the world.

None of these things existed ten years ago. And in a few more years, today’s financial conditions will seem tame by comparison.

Yet while this snowball keeps getting bigger, no one can possibly predict precisely WHEN or HOW it will finally strike.

That’s why perspective is so important.

Anyone who hunkers down expecting the financial apocalypse could be waiting a while… and simultaneously missing out on some compelling opportunities.

Similarly, people who delude themselves into believing that everything is going to be just fine will likely have their entire lives turned upside down by an erupting financial crisis.

It is possible to strike a balance.

As an example, we’ve talked a lot about holding physical cash.

If the objective data proves that your banking system is illiquid and questionably solvent, then why take the risk and keep all your money there, especially when all you’re being paid is 0.1% interest anyhow?

You can take a LOT of that risk off the table by simply withdrawing a few months worth of savings and holding some cash.

Similarly, if you know that your currency is underpinned by record amounts of debt and promises that are impossible to keep, why not take some of that risk off the table with an asset like gold that has a 5,000 year history of preserving wealth?

It’s hard to imagine you’ll be worse off holding a bit of physical cash or a universal asset like gold or silver.

But if the worst happens, those holdings could turn out to be the best insurance policy you’ve ever had.

Until tomorrow, Simon Black Founder,

 » October 7th, 2016



 » October 7th, 2016

Great cc Frank! So encouraging to see the hole in the ship getting plugged (MCP/Auctions) and stopping the stealing of it, I really feel we are in the sweet spot.

The global community needs this and nations are falling apart without this taking place, While Iraq is poised and ready internally with he help of the UN, IMF etc.

I cant understand if it will be before or after Nov. 8th bc I just cant imagine the things O is saying he will do if H doesnt win etc not effecting the GCR, historically it should happen before 11-8, but we have a different type of Admin. Regardless this year is interesting and the urgency to get this done seems more real than ever. Those holding it up are getting fewer and fewer

 » October 7th, 2016

The Coming Cashless Society & Automatic Driving Car Age

Posted Oct 6, 2016 by Martin Armstrong


Martin – I wanted to let you know that I stopped at a Jimmy John’s today and they wouldn’t allow me to use cash.

They had no drawer or physical money on the premises. It was either chip card or no sandwich. They claimed it was their first store in the nation to go cashless.

So, bravo for highlighting this trend. I have a feeling that the next generation of American tax payers might not even know what Federal Reserve notes or nickel and copper coins are even for.

​JB REPLY: I kept a 2011 BMW 535i as long as I could because it was a manual drive. I went to a place for dinner where they had a valet to park cars, but the valet did not know how to drive manual. That happened a couple of time. I then pulled into a car wash. Again, they had to call the cashier who was a woman, perhaps in her 50s, to drive the car. The youth already do not know how to drive a stick shift. Very dramatic.

We now have cars that are starting to drive themselves. Can you image a two-year-old today growing up and asking, “Wow. You used to drive a car? How was that?”

We are advancing. There will be no physical money any more than there will be manual cars or cars you drive. Things are changing. The greatest risk to small business is people stealing from them. Eliminate cash and you do not have to worry about employees taking the cash.

JohnGalt said (Post #11)
So, do I have this right? IMF says world debt is $152T. Our debt is $20T and $80T additional real debt we can't service and keep off books. Does this mean we are 2/3 of the world debt???? I must have this wrong - hope I do. Chilling if true!

Don961 » October 7th, 2016

what an economic system !!! 000067medium_gif.... surely we can come up with something better ....Over the course of my lifetime , we've gone from the biggest creditor nation , to the greatest debtor nation ever .... who was piloting this ship anyway ??? hummmmm???


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