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6pm August 22nd, 2015

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Table of Contents

Post From Chat Room 8-22-15
Wealthwatch Morning Chat  8-22-15  Part 1 of 2

EdoBini: Do we know when the bond will actually start. ???

chattels: with legal procedures until the field to those affected do not stay to submit complaints to the courts to invalidate the pretext of violating the Constitution or the law turning these steps to ink on paper, 

noting that "the reform steps requires a legal amendment or new legislation It is essential that the Government provide projects for this purpose to parliament to be approved there is no outlet remains to retreat her later.

chattels: ......stress reforms must be within the law so that they don't prompt legal complaint

Post From Chat Room 8-22-15
Wealthwatch Morning Chat  8-22-15  Part 2 of 2

TxBrand: Unfortunately, the Minister of Finance did not receive the needed political support (particularly from some key decision makers in his own party) to implement that reform program. 

Thus, the budget shortfall from Baghdad, coupled with ever increasing KRG expenditure, led to more delays in government salaries and support for the Peshmerga and other vital security services.

 Donnie: This selloff is about China and emerging markets, with a dash of Fed...

Simon Black: Notes From The Field

August 21, 2015   Rome, Italy

I grew up in Texas in a middle class household to two very hard-working parents.

And to say we were middle class may even be a stretch. We were definitely clinging to the bottom rung of middle class.

Money was always a problem. And my parents each held multiple jobs in addition to making a go of their own business in order to make ends meet.

I never missed a meal. But the constant stress and worry about how we were going to pay the bills that month was palpable.

Get ready for yuan in IMF basket

By Mike Bastin(China Daily Europe)

Internationalization of Chinese currency picks up pace with clearing centers around the world

It came as no surprise recently to read that the Chinese yuan, or renminbi, as it is also widely known, is set to replace the Japanese yen to become the fourth international currency within two years.

Such is the rise of the yuan that eclipsing the yen in the short term is an absolute inevitability.

Post From Chat Room 8-21-15
Wealthwatch Late Evening Chat  8-21-15

chattels: KIRKUK, Kirkuk province - Iraq's government has approved plans to construct an international airport in Kirkuk province, officials said Friday. 

Authorities said Hurriya military airbase on the outskirt of the city of Kirkuk, the provincial capital, will be revamped into a modern airport with international and national flights. 

"It is hugely important to us in Kirkuk to have an airport because of business opportunities in the city which are in desperate need of more effective communications," said Jabar Hasan, a representative with the Kirkuk Investment Board. Hurriya airfield is currently being used as a military base by the Peshmarga forces and belongs to the Iraqi Defense Ministry, according to Kirkuk's governor. 

The below posts were in our 11am newsletter


MIllionday News Time 8/21/15

Welcome to for News Time with Millionday!

Millionday: Center Brief for the Iraqi Media Network (IMN) - a member of the economic and investment commission parliamentary Najiba Najib said the new projections announced by the International Monetary Fund to increase the Iraqi economic growth rate until the end of this year by 0.5% in line with reforms aimed at reducing operating expenses package.

The International Monetary Fund forecast on Wednesday, the Iraqi economy growth of 0.5% by the end of this year, thanks to expansion in the oil sector, and increase the contraction of economic activity in the non-oil.

Post From Chat Room 8-21-15
Wealthwatch Afternoon Chat  8-21-15 

Fit2beFit: "We categorically reject and postpone work this time for the Law of the customs tariff because it is one of the important economic laws of the country, because he Seder big money of the state and stimulating the economy."

Fit2beFit: Deputy: we refuse to stop the work of customs tariff Fri Aug 21 2015 08:45 | (Voice of Iraq) - Baghdad It refused to economic and investment commission in Parliament, to stop the work of customs tariff, as pointed out that activated Cedar money and stimulating the economy. "

 A member of the committee MP Ali Mohammed told JD: "There are demands by some quarters to postpone the work of customs tariff," noting that "the law has been postponed since 2010 has been activated with the beginning of the month of the current year."

Round Table Chat w/BGG (mid-day) 8-21-15

 Welcome to for Round Table with BGG!!

BGG: Sadr's movement calls for Maliki to surrender to eliminate

BGG: The political body of the Sadrist movement Nuri al-Maliki called for a surrender to justice. The authority said in a statement; that "al-Maliki on the surrender of the judiciary and to appear before the competent court and face the charges against him." She said the body; "The court will determine guilt or innocence of al-Maliki."

Thanks My Ladies for letting us share from your private chatroom


Fears over global slowdown hammer US stocks for 2nd day


NEW YORK (AP) - The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China's slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis.

The Dow Jones industrial average fell to 16,459.75, and ended down 3.1 percent on Friday. The Standard & Poor's 500 index dropped 64.84 points, or 3.2 percent, to 1,970.89. The Nasdaq slid 171.45 points, or 3.5 percent, to 4,706.04.

The Dollar Will Not Be Overthrown in October (Part II)

The Dollar Will Not Lose Reserve Status In October

POSTED   AUGUST 20, 2015

As we explained yesterday, including the yuan in the IMF's Special Drawing Right (SDR) basket will not disrupt the international monetary system and will not overthrow the dollar as the leading global reserve currency.

 But it is an important sign of respect and does represent enhanced prestige, which China desperately wants.

The U.S. has veto power over the IMF's decision to include the yuan in the SDR. The U.S. has used its clout to put China on its best behavior before the decision is made. 

This means China has to put an end to its currency war with the U.S. and peg the yuan to the dollar. China has done this at an exchange rate of about 6.2-to-1.