Category: Chapter VII Of The United Nations Charter

Wednesday Afternoon Dinar News and Opinions

Emailed to Recaps:

DebTarHeelGirl: THE WORD OF THE LORD TO ALL OF DINARLAND:  There is a way that seems right to a man, But its end is the way of death. Proverbs 16:25 NKJV.  

If you could only see behind the scenes what is REALLY going on to bring this RV to pass – THE REAL OPERATIONS CAN’T BE PUT OUT IN PUBLIC.

 Trust that the promise of an RV is still growing, and at the appointed time, you will see it fulfilled, then your confession about it all will be = “And it came to pass.”

To base everything you believe and take actions of retaliation on anything other than solid factual evidence presented in a tangible visual form, it’s dangerous and will lead to destruction. IF this is wrong, SHOW THE PROOF instead of shouting what is thought and only “heard.”

 Do you want to be counted in a mass effort that could bring destruction? Every action we take there is a reaction that comes back upon us, negative or positive actions. What is sown will be reaped.  

Please TRUST GOD ALONE – this is HIS wealth transfer and HE IS IN CONTROL and it will all work out as HE HAS PLANNED.  

MARK THIS: Once this release takes place, you will say amongst yourselves, why did we get so worked up and doubt this RV now that we see ALL the information?  

WATCH AND SEE THE SALVATION OF THE LORD.  Exodus 14:13a Moses answered the people, “Do not be afraid. Stand firm and you will see the deliverance the LORD will bring you today.”  I Samuel 12:16 ”Now then, stand still and see this great thing the LORD is about to do before your eyes!”
….
Read More Link on Right

Stage2Omega:

Former Va. Gov. McDonnell, wife indicted on federal corruption charges http://www.washingtontimes.com/news/2014/jan/21/mcdonnell-wife-indicted-federal-corruption-charges/

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MIG:

[xyz] How much did the 2008 financial crisis cost; about $180,000 a person? The American Bankers Association sued to stop a provision of the Volcker Rule and intended to stop banks from engaging in risky trading.   http://economictimes.indiatimes.com/news/international/business/how-much-did-the-2008-financial-crisis-cost-about-180000-a-person/articleshow/29196486.cms

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I4U:

 [miabella] Had to go to my WF bank today because my Ck card was charged for unauthorized purchases…..The Personal Banker began giving me all the tips to watch for and do to avoid the same again. I never met him before and he started telling me about all of their other “services” in the bank. lol I was just waiting for him to get to the “good part”. He said, “Oh and we have the currency dept”. DO YOU KNOW how tempted I was? lol

[landons nana] miabella lol

[miabella] I think I have teeth marks on my tongue from biting it so hard. lol

[chucker7] miabella lol good girl

[landons nana] miabella my personal banker at WF owns dinar lol

[miabella] landons nana I wanted to ask soooooooooooo bad, but listened to my inner self saying, “Don’t you even”…………. lol

[Jamison] Just everybody be save in the future, just a little advice, if you sign up for any twitter with dinar people, if you go to that twitter person, it list everybody signed up for it with pictures of people and there names, you might want to protect yourself

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KTFA:

aggiedad77 » January 22nd, 2014, 2:22 pm  • 

Well now for the mid-day news….looks like the news is shaping up to be a busy day:

Source: “orphans” Saddam overseas funds fleeing to Jordan

It seems that some are following the trails of Saddam’s money…finding some of it in Jordan at this time….and that other members of the former regime may have attempted to smuggle money out of Iraq through Jordan for use against Iraq at a later date. The article also mentions $20 billion euro’s that were captured at the main Russian airport in 2007 that was believed to be part of Saddam’s legacy…..before his capture Saddam was reported by Forbes magazine as the third richest man in the world…shame he never got to use all that ill-gotten money.

Abadi: raise $ 5 a barrel comes to cover up the achievements of the dispute with al-Maliki and the Kurds

I wasn’t going to talk about this article because I originally thought it was one I had already mentioned…but there is something in it that is different….it seems that some of the flack being thrown up about the petrodollar issue may be just that….flack….attempting to gloss over things such as what is going on in Anbar or other successes of Maliki’s. This article also speaks to how the petrodollars are distributed to the provinces…..they are accrued until the end of the year and then distributed to the provinces. I’m betting we see and hear more on this.

Najafi and discuss Hegel file armament .. Allawi and leave for Washington soon

Najafi talked to Sec of Def Hagel and reiterated that Iraq needs weapons for fighting terrorism, these weapons will not be used in suppression of Iraqi people…..he also talked with Sec of State Kerry about strengthening bilateral relations with the US and Iraq in light of strategic relations…..still to happen is a meeting with Obama and Biden…and some members of Congress.

Urgent .. Maliki: It is time to end and resolve the existence of terrorist gangs in Fallujah

Maliki is calling upon the tribal people of Fallujah to put an end to the terrorist activity in their city. He is urging them to stand tall for what is rightfully theirs.

Othman expects reaching a compromises between the federal government and the province

Parliament is letting the Kurds and the government know that the budget can and will be passed without the Kurds, if they do not step up the process and come to an agreement between the two of them……someone with some backbone, telling both entities to kiss and make up.

President Barzani Urges European Support for Kurdistan

Kurdish President Barzani speaking before the European Parliament…..asked for support of Kurdistan….didn’t ask for help with Iraq….but for his home region….kind of selfish in one way…but also understandable.

Foreign Investment in Kurdistan at $33 billion; UAE Among Top investors

The Kurds have received $33 billion from foreign investors the largest of which is the UAE…..they are doing things to encourage investors into certain areas with great success….the UAE has now opened 3 Chamber of Commerce offices within the Kurdistan…there are over 130 UAE companies operating in the Kurdistan….per capita income is now at $7,000 and expected to rise to $10,000 in coming years.

The growing al-Qaida in Iraq, and the threat of Prime Minister Maliki … By Anthony Cordesman

This is an opinion piece written about the growth of al Qaeda since the US forces pulled out over two years ago and Maliki’s strangling hold on almost all aspects of Iraq, especially the military and security…..so much so that Sunni’s fear his reprisal in Anbar and many have sided with the al Qaeda terrorists as their only way of getting anywhere in Iraq today. They do not see any friendship from Maliki at all….but the US is telling Maliki to learn to play ball better with all involved….all but the terrorists.

Maliki: the Kurdistan and Baghdad ministries concerned to cooperate to resolve the issue of the budget

In his best “Larry the Cable Guy” imitation Maliki is saying “Let’s Git ‘Er Done” saying that things have improved between the Kurds and the Federal government…..the sticking point seems to be with how extracted oil is transported out of the Kurdistan region into other countries….Turkey….and whether or not payments are made to the appropriate fund.

In Kurdistan the number of millionaires rises

There are currently over 11,000 people in the Kurdistan region whose wealth exceeds $5 million….wow…..talk about income inequity…..we thought it was bad here…..the economic boom occurring in Kurdistan is given much credit for this sudden growth of wealth.

Dimensions out of Iraq from Chapter VII of the focus of discussions on the canopy of the University of Baghdad

A symposium on Iraq coming out of Ch VII and moving to Ch VI….very interesting….this is a historic accomplishment and will be discussed at length it seems by the Dean of the Faculty of Languages…..she states that Iraq will begin to play PIVOTAL role in regional and international activities…that gets me excited.

Improving the financial sustainability and increase production budget priorities highlighted in 2014

This talks to six areas of focus the 2014 budget will have for Iraq….1. Increase financial sustainability; 2. increase production capacity; 3. increase oil and gas production; 4. increase competitiveness of public and private institutions; 5. raise the level of services; 6. improve the welfare of the people……if it were left up to me, I think I would put the people a bit higher on the list….but then I don’t live in Iraq.

Oil: Rising exports and crude oil revenue for the month of December last

Oil exports were on the rise in December, exceeding 72 million barrels….wowser….that created revenues of almost $7.5 billion dollars!!! Yep you heard it right…..and this is in spite of bad weather during the month.

Iraqi Drilling Company expanded its business during the current year

2014 promises to be a better year for the drilling company…..in 2013 they drilled 82 new wells….and reclaimed or worked over 97 existing wells…..not a bad years worth of work.

Gang steal billions from banks in the provinces of Basra and

This headline for some reason made me think of Bonnie and Clyde….I know it’s been a long morning…..they stole over 3 billion dinars…..that is quite a haul of toilet paper…..Security did capture one of the robbers…..there appears to have been some inside collusion for them to make off with what they got….apparently they feel this is not just limited to Basra but over several provinces…..before anyone asks…..yes it does appear that some banks still have money.

The oil minister for “tomorrow Press”: the current state of the country’s need for the enactment of the oil and gas

The Oil Minister Karim….side note….why do you see coffee beside this man’s name when in print….strange….ok….so they know they need to pass oil and gas legislation…nothing new….and by doing so they guarantee wealth to the nation….again nothing new…..he wants to speed up the process….well that shouldn’t be too hard to do since it has been floundering for a number of years…..let’s move it on along now.

Shahristani to discuss with the Italian company workflow in the Zubair oil field

This is always big news when S is discussing oil business with anyone….he’s the big cheese…..basically they are agreeing on a rate of production for the field of 850 thousand barrels per day and extending Eni’s contract for 5 years to 2035.

Parliament is likely to return the budget to the government because of the many problems which

So some MP’s want to send the budget back to the COM because of the differences that the Kurds have with the budget as is…never mind that the Kurds are working on those issues…..also they would like to see the COM make changes to the petrodollar part of the budget….why not make those changes yourself…..you are all big boys and girls.

Divergence of views between support and rejection and warning about the decision to develop new provinces

I think all that needs to be said about this long article is that the creation of these new provinces will become…is becoming a political football….I am sure there will be more to be read on this issue in the coming days…..Maliki says it is perfectly constitutional…..others see problems…..well I say make lemonade then.

Closure of the course on accounting, budgeting and management of the banks in the Kurdistan Region

Woohoo, it has been six long weeks…..butts have gotten sore sitting and listening and hopefully learning some good things during this time…..but class is finally out…..64 attended the class and had discussions on accounting, budgeting….management of banks….roles of women…..sounds like a well rounded bean counter kind of class….they probably need to do more of this and take it on the road to other provinces.

Planning: 9% economic growth rate through 2013

Well 9% growth is healthy…..ahead of the Chinese it would seem who were at 7.7%……what is troublesome about this article is where they speak to the inflation rate saying that it dropped from “50 to 6% currently”……what I believe they mean is they have dropped the inflation rate by 50% from around 12% to 6%…..just my opinion….

Iraqi women mostly absent from political scene

Outdated traditions keep many women from pursuing political positions it seems…..even those that have found political positions say that is so because of quotas being filled.

Gotta end things here for now…..more later I can promise….lots of news today   Randy

Recommended Reading:

What You Don't Know About Retirement

Iraqi Dinar Chat and news July 11

Good morning all! Here is today’s chat: here are the articles I referenced:
 
Finance Committee: Central has the power to replace the currency without reference to the government
Read more:
 
Member of Finance Committee proposes issuing coins category (50) and (100) thousand dinars instead of deleting the zeros
Read more:
Iraqi Central Bank limits $10m for banks with capital of 250bn IQD in currency sales
Read more:
Trade Bank of Iraq proceed to issue the Visa Gold card
Read more:
 
Debate between Maliki and Allawi and Barzani
Read more:
Member of Finance Committee: Negotiations are continuing with Kuwait to extinguish the debt . . And remove Iraq from Chapter VII will be achieved soon
Read more:
 
See you next week, or hopefully sooner!
 
- Adam
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Living Standard in Iraq showing positive growth, said British diplomat

Standard of living of the common Iraqis is getting better day by day, as the country is making a swift economic progress. This has been stated by a British diplomat recently.

Mark Bryson-Richardson, British Charge d’Affaires in Iraq, stated that though there are several challenges within the country, Iraq has managed to make some progress at a drastic level. The country is preparing for its fourth national elections, which would be the game changer for the country in forth-coming years.

British and the US troops invaded Iraq in 2003 but as 2004 dawned, the country was a bloody scene of violence and remained that way for several years. UK combat operations did not officially finish until 2009, followed by the US the following year, many years after the invasion.

However, he pointed out that fact that security is a major problem within the country and probably the main barrier towards country’s development. Though, he remarked that things in Iraq are now better than ever.

In November the opening of a branch of Standard Chartered in Baghdad – the first British bank to open a branch in Iraq – was hailed as a milestone in the country’s “recovery”. At the opening ceremony of Standard Chartered, Iraqi Prime Minister, Nouri al-Maliki said that it is a definite sign of international trust amongst the foreign investors towards Iraq.

Mr. Bryson-Richardson has insisted that improvements are continuing.

He told the Press Association: “Iraq has experienced momentous change over the past 10 years.

“It is about to head into its fourth national elections and has also successfully held provincial elections: a significant step forward for a country so recently embroiled in dictatorship and conflict.

“Iraq has moved out of Chapter VII of the UN Charter and has one of the world’s fastest-growing economies, with a growth rate of 8.4%.

“It is about to head into its fourth national elections and has also successfully held provincial elections: a significant step forward for a country so recently embroiled in dictatorship and conflict.

“Iraq has moved out of Chapter VII of the UN Charter and has one of the world’s fastest-growing economies, with a growth rate of 8.4%.

“On a day-to-day basis, Iraqis are seeing a more open media, have access to more goods and services, and are engaging in a public debate about the future of their country.

“But, as reflected in the government of Iraq’s own priorities, significant challenges still remain, notably the security situation; the establishment of an inclusive political system that brings together all the different communities in Iraq; and translating Iraq’s growth and oil wealth into improved public services and standards of living.”

Nowhere is the change to Iraqis’ everyday lives more obvious than the Mansour Mall: a new shopping centre in Baghdad. Home to a cinema, restaurants, children’s area and shops, including British staple Clarks, the centre which opened in 2013 could be in any western country.

Managing director Ammar al-Khafaji said, “In 1966 the first mall in the Middle East was in Iraq. After that when Sadddam Hussein came, we are the last country in the world. This is a new thing here in Baghdad.

“In our mall we have everything. We have restaurants, we have shops, we have a kids area, we have a cinema. We have entertainment, games.”

There are around 25,000 visitors a day, swelling to around 40,000 in holidays or the weekend, all attracted not only by the shops but by the safety the centre provides, he said. A security scanner greets people as they walk in, while security staff men the roofs of buildings across the streets and CCTV cameras cover every centimeter of the mall.

With Western brands like Clarks and Marks & Spencer in the mall, Mr. al-Khafaji claims that it symbolizes a “new life” for people in Iraq. He also said that this is a completely rejuvenated Iraq.

“The malls will build a new culture, a new era for the people.

“I tried to get Starbucks, and we already signed with KFC. They are coming here. This is just the start.”
Photography student Haider Muhamed, 22, who comes to the centre every day with his friends, said: “It’s nice. It’s safe. The street isn’t safe but it is safe here.”

In Clarks, worker Murtatha Alaa said people buy the British brand because it is a symbol of quality. He said, “They come because of the shoe. It’s well made and because it’s from the UK.”

“We have known the UK shoes. They were in Iraq and (the Iraqi people) have the expectation that everything made in the UK is the first-class thing.”

Mr Bryson-Richardson said Iraq continues to strengthen its ties with the international community, including the UK. “The UK is working to increase trade, investment, educational and cultural links,” he said.

“Thousands of students from across Iraq are studying in the UK. Standard Chartered – one of Britain’s leading financial institutions – recently opened a head office and first branch in Iraq.

“The largest-ever British trade mission visited Baghdad with more than 50 UK companies taking part; and we held the second Joint Ministerial Trade Council between Iraq and the UK.

“Security remains a challenge but, with appropriate precautions, businesses can engage and are winning contracts.”

LINK

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What You Don't Know About Retirement

Living Standard in Iraq showing positive growth, said British diplomat

03 Jan 2014
Standard of living of the common Iraqis is getting better day by day, as the country is making a swift economic progress. This has been stated by a British diplomat recently.
Mark Bryson-Richardson, British Charge d’Affaires in Iraq, stated that though there are several challenges within the country, Iraq has managed to make some progress at a drastic level. The country is preparing for its fourth national elections, which would be the game changer for the country in forth-coming years.
British and the US troops invaded Iraq in 2003 but as 2004 dawned, the country was a bloody scene of violence and remained that way for several years. UK combat operations did not officially finish until 2009, followed by the US the following year, many years after the invasion.
However, he pointed out that fact that security is a major problem within the country and probably the main barrier towards country’s development. Though, he remarked that things in Iraq are now better than ever.
In November the opening of a branch of Standard Chartered in Baghdad – the first British bank to open a branch in Iraq – was hailed as a milestone in the country’s “recovery”. At the opening ceremony of Standard Chartered, Iraqi Prime Minister, Nouri al-Maliki said that it is a definite sign of international trust amongst the foreign investors towards Iraq.
Mr. Bryson-Richardson has insisted that improvements are continuing.
He told the Press Association: “Iraq has experienced momentous change over the past 10 years.
“It is about to head into its fourth national elections and has also successfully held provincial elections: a significant step forward for a country so recently embroiled in dictatorship and conflict.
“Iraq has moved out of Chapter VII of the UN Charter and has one of the world’s fastest-growing economies, with a growth rate of 8. 4%.
“It is about to head into its fourth national elections and has also successfully held provincial elections: a significant step forward for a country so recently embroiled in dictatorship and conflict.
“Iraq has moved out of Chapter VII of the UN Charter and has one of the world’s fastest-growing economies, with a growth rate of 8. 4%.
“On a day-to-day basis, Iraqis are seeing a more open media, have access to more goods and services, and are engaging in a public debate about the future of their country.
“But, as reflected in the government of Iraq’s own priorities, significant challenges still remain, notably the security situation; the establishment of an inclusive political system that brings together all the different communities in Iraq; and translating Iraq’s growth and oil wealth into improved public services and standards of living. ”
Nowhere is the change to Iraqis’ everyday lives more obvious than the Mansour Mall: a new shopping centre in Baghdad. Home to a cinema, restaurants, children’s area and shops, including British staple Clarks, the centre which opened in 2013 could be in any western country.
Managing director Ammar al-Khafaji said, “In 1966 the first mall in the Middle East was in Iraq. After that when Sadddam Hussein came, we are the last country in the world. This is a new thing here in Baghdad.
“In our mall we have everything. We have restaurants, we have shops, we have a kids area, we have a cinema. We have entertainment, games. ”
There are around 25,000 visitors a day, swelling to around 40,000 in holidays or the weekend, all attracted not only by the shops but by the safety the centre provides, he said. A security scanner greets people as they walk in, while security staff men the roofs of buildings across the streets and CCTV cameras cover every centimeter of the mall.
With Western brands like Clarks and Marks & Spencer in the mall, Mr. al-Khafaji claims that it symbolizes a “new life” for people in Iraq. He also said that this is a completely rejuvenated Iraq.
“The malls will build a new culture, a new era for the people.
“I tried to get Starbucks, and we already signed with KFC. They are coming here. This is just the start. ”
Photography student Haider Muhamed, 22, who comes to the centre every day with his friends, said: “It’s nice. It’s safe. The street isn’t safe but it is safe here. ”
In Clarks, worker Murtatha Alaa said people buy the British brand because it is a symbol of quality. He said, “They come because of the shoe. It’s well made and because it’s from the UK. ”
“We have known the UK shoes. They were in Iraq and (the Iraqi people) have the expectation that everything made in the UK is the first-class thing. ”
Mr Bryson-Richardson said Iraq continues to strengthen its ties with the international community, including the UK. “The UK is working to increase trade, investment, educational and cultural links,” he said.
“Thousands of students from across Iraq are studying in the UK. Standard Chartered – one of Britain’s leading financial institutions – recently opened a head office and first branch in Iraq.
“The largest-ever British trade mission visited Baghdad with more than 50 UK companies taking part; and we held the second Joint Ministerial Trade Council between Iraq and the UK.
“Security remains a challenge but, with appropriate precautions, businesses can engage and are winning

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Relive transport 100 million dollars from Swiss banks

Baghdad – and babysit – agreed with the duties of the civil aviation organization IATA International Air recovering 100 million dollars from a bank in Switzerland.

The director of the company Nasser Al-Bader in a press statement, on Sunday, said that “the provisions of Chapter VII was imposed on the company’s financial status of all revenue in Swiss banks.”

He said al-Bandar, “the amounts recovered are out of 170 million dollars deposited in Swiss banks.”

He pointed out that “the ministry has opened an account in the TBI TBI TBI to transfer the amount to him during the next few days” … p / i

LINK

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What You Don't Know About Retirement

Relive transport 100 million dollars from Swiss banks

Baghdad – and babysit – agreed with the duties of the civil aviation organization IATA International Air recovering 100 million dollars from a bank in Switzerland.
The director of the company Nasser Al-Bader in a press statement, on Sunday, said that “the provisions of Chapter VII was imposed on the company’s financial status of all revenue in Swiss banks. ”
He said al-Bandar, “the amounts recovered are out of 170 million dollars deposited in Swiss banks. ”
He pointed out that “the ministry has opened an account in the TBI TBI TBI to transfer the amount to him during the next few days” … p / i

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What You Don't Know About Retirement

$100 million dollars recovered from Swiss banks

1-4-14 alforattv.net:   Sherkat agreed with the civil aviation organization IATA International Air recovering 100 million dollars from a bank in Switzerland.

The director of the company Nasser Al-Bader in a press statement, said that “the provisions of Chapter VII was imposed on the company’s financial status of all revenue in Swiss banks.”

He said al-Bandar, “the amounts recovered are out of 170 million dollars deposited in Swiss banks.”

He pointed out that “the ministry has opened an account in the TBI TBI TBI to transfer the amount to him during the next few days.”

Iraq succeeded through the efforts of long made at different levels of access to get out of the penalty provisions of Chapter VII imposed on it since the nineties of the last century.

LINK

Recommended Reading:

What You Don't Know About Retirement

$100 million dollars recovered from Swiss banks

Relive transport 100 million dollars from Swiss banks
Sherkat agreed with the civil aviation organization IATA International Air recovering 100 million dollars from a bank in Switzerland.
The director of the company Nasser Al-Bader in a press statement, said that “the provisions of Chapter VII was imposed on the company’s financial status of all revenue in Swiss banks. ”
He said al-Bandar, “the amounts recovered are out of 170 million dollars deposited in Swiss banks. ”
He pointed out that “the ministry has opened an account in the TBI TBI TBI to transfer the amount to him during the next few days. ”
Iraq succeeded through the efforts of long made at different levels of access to get out of the penalty provisions of Chapter VII imposed on it since the nineties of the last

Recommended Reading:

What You Don't Know About Retirement

Leveling the playing field

12-31-13 Austin-Powers-For-PM:   (Q.  Why can’t you have a tariff at the current rate?)
A.  Because you would have an overnight 20% increase in inflation for almost all foreign goods, and since Iraq doesn’t manufacture squat that 20% will go be paid immediately by the general public. If you raise the rate to say, 3. 44, that gives the typical Iraqi 3x greater purchasing power, thus overcoming the effects of the tariff.
Imagine if just about everything here in the States (except food) instantly became 20% more expensive without an associated pay raise. There would be massive discontent in our society. Now take that to Iraq where when they get mad they just start blowing things up and it would make for a very nasty environment.
Tariffs are designed to help local manufactures work on a level playing field so that they can get themselves up to speed. Tariffs can certainly provide more money to the government, but I don’t know if it will be a major part of eliminating their cash crunch.
They artificially inflated their currency to make everything there as cheap as possible so as to attract manufacturers to assemble their products in Vietnam. However you can’t use that strategy forever and at some point your currency has to reflect your reality.
(Their release of chapter vii is the only factual evidence I have that their currency must go international. ) My understanding is that one of the contingent factors in their release from Chapter 7 (not published of course) was that they had to make their currency international no later than January 1st, 2014 or be subject to going back under Chap. 7. Now everybody thought they’d do it wayyyyy before January 1st, but as normal, they and the PTB’s have taken this all the way out to right now.
Well if we look at the tariffs going into effect the morning of January 2nd over in Iraq, I would have to think that they are looking at releasing this sometime late tomorrow……. but that is purely my speculation.

Recommended Reading:

What You Don't Know About Retirement

Leveling the playing field

12-31-13 Austin-Powers-For-PM:   (Q.  Why can’t you have a tariff at the current rate?)

A.  Because you would have an overnight 20% increase in inflation for almost all foreign goods, and since Iraq doesn’t manufacture squat that 20% will go be paid immediately by the general public. If you raise the rate to say, 3.44, that gives the typical Iraqi 3x greater purchasing power, thus overcoming the effects of the tariff.

Imagine if just about everything here in the States (except food) instantly became 20% more expensive without an associated pay raise. There would be massive discontent in our society. Now take that to Iraq where when they get mad they just start blowing things up and it would make for a very nasty environment.

Tariffs are designed to help local manufactures work on a level playing field so that they can get themselves up to speed. Tariffs can certainly provide more money to the government, but I don’t know if it will be a major part of eliminating their cash crunch.

They artificially inflated their currency to make everything there as cheap as possible so as to attract manufacturers to assemble their products in Vietnam. However you can’t use that strategy forever and at some point your currency has to reflect your reality.

(Their release of chapter vii is the only factual evidence I have that their currency must go international.) My understanding is that one of the contingent factors in their release from Chapter 7 (not published of course) was that they had to make their currency international no later than January 1st, 2014 or be subject to going back under Chap. 7. Now everybody thought they’d do it wayyyyy before January 1st, but as normal, they and the PTB’s have taken this all the way out to right now.

Well if we look at the tariffs going into effect the morning of January 2nd over in Iraq, I would have to think that they are looking at releasing this sometime late tomorrow…….but that is purely my speculation.

Recommended Reading:

What You Don't Know About Retirement