Notes From The Field
February 12, 2018 Sovereign Valley Farm, Chile
This may be the beginning of The Great Financial Reckoning
Less than two weeks ago, the United States Department of Treasury very quietly released its own internal projections for the federal government’s budget deficits over the next several years.
And the numbers are pretty gruesome.
In order to plug the gaps from its soaring deficits, the Treasury Department expects to borrow nearly $1 trillion this fiscal year.
Then nearly $1.1 trillion next fiscal year.
And up to $1.3 trillion the year after that.
KarenK: This is what Rex Tillerson says: investment in Iraq is critical to avoid ISIS' return
By CAROL MORELLO | The Washington Post | Published: February 13, 2018
KUWAIT CITY — Secretary of State Rex Tillerson on Tuesday declared IRAQ OPEN FOR BUSINESS and urged governments and investors to help rebuild the country or risk seeing a return of the Islamic State.
Tillerson said the U.S. Export-Import Bank would sign a memo that would facilitate financing for $3 billion in American goods and services. He listed several large U.S. corporations that already have deals with Iraq totaling $2 billion, and he lauded the investment opportunities.
That is far less than the $88 billion Iraq needs to restore basic water and power and rebuild schools destroyed during ISIS' reign over vast swaths of Iraq and Syria. And it is unlikely that the conference will net Iraq anywhere near that sum.
Tillerson said the conference was not about donating but about "understanding" the business opportunities available.
Harvesttime: So everything appears to be done done done!! Can they continue hiding the rate from the public?
Please don’t get mad at me. I’m just trying to figure out how they can say Iraq is stable and secure; signing contracts; inviting all these investors into their country.....without having a public monetary rate of exchange.
Hazen: The conferences are now over.....how much longer can this ride go?
Will: hopefully not much longer. not sure what could possibly be the next target. maybe end of first quarter for the sake of the books?
MilitiaMan: Thirty billion pledged in three days.. articles suggest the process for the short term is six years. Thirty billion from the likes of the USA, Kuwait, Saudi Arabia, Germany. Britain, Japan, Korea, France and even Iran spells the launch has been successful at a minimum. They are publicly telling the world the currency has no restrictions.. Mm
Samson: Al-Abbadi meets with the President of the World Bank and the Secretary-General of the United Nations
Prime Minister Haider al-Abadi met on the sidelines of the Iraq reconstruction conference held in Kuwait, World Bank Group Chairman Jim Young Kim.
Abadi also met on the sidelines of the conference with UN Secretary-General Antonio Guterres