Related articles .. link .. *APEC Meeting Of Finance Ministers in Moscow August 29-30-2012 ... ..and .. link .. *APEC 9 of its 21 member economies are negotiating the new pact that could create the largest free trade zone in the world (U.S. Canada Included)?
August 31, 2012
Asia edges towards giant free trade zone: ASEAN
Sixteen nations home to roughly half the world's population have agreed "in principle" to create a free trade area spanning Asia, the secretary-general of ASEAN said Friday.
Trade ministers from the 10-member Association of Southeast Asian Nations (ASEAN) and their counterparts from China, Japan, South Korea, India, Australia and New Zealand will press their leaders to start talks on the trade zone at a regional summit in November, Surin Pitsuwan told AFP.
The move towards establishing the Regional Comprehensive Economic Partnership (RCEP), made during a meeting in the Cambodian tourist town of Siem Reap on Thursday, was hailed by Surin as "a big achievement".
Friday, August 31, 2012
Defending Fed, Bernanke signals new economic stimulus
September 1, 2012
Defending Fed, Bernanke signals new economic stimulus
In apparent move to build public support, the Fed chief notes stagnation of the labor market and the risks of lingering high unemployment
Federal Reserve Chairman Ben S. Bernanke gave a spirited defense of Fed policies and left little doubt that the central bank was preparing new stimulus for the economy — an action that could roil Republicans and GOP presidential nominee Mitt Romney since it would probably occur in the heat of the general election.
Speaking on the morning after Romney's nomination address, which focused on the sluggish economy, Bernanke expressed his dissatisfaction with the weak recovery and in particular with what he described as the "painfully slow" improvement in the job market.
But while Romney and other Republican leaders have generally opposed further monetary stimulus for the economy, warning of the risks of inflation and asset bubbles, Bernanke on Friday carefully laid out a case for likely additional action by the central bank.
In a highly anticipated speech delivered at the Fed's annual retreat in Jackson Hole, Wyo., Bernanke defended the institution's moves to bolster the economy through purchases of more than $2 trillion of bonds since late 2008. In buying massive amounts of Treasury and other government bonds, the Fed sought to stimulate investments and spending by driving down long-term interest rates.
"We must not lose sight of the daunting economic challenges that confront our nation," Bernanke said, though he acknowledged that the cost and benefits of more bond-buying are uncertain.
"The stagnation of the labor market in particular is a grave concern not only because of the enormous suffering and waste of human talent it entails," he said, "but also because persistently high levels of unemployment will wreak structural damage on our economy that could last for many years."
READ FULL ARTICLE.. HERE
Defending Fed, Bernanke signals new economic stimulus
In apparent move to build public support, the Fed chief notes stagnation of the labor market and the risks of lingering high unemployment
Federal Reserve Chairman Ben S. Bernanke gave a spirited defense of Fed policies and left little doubt that the central bank was preparing new stimulus for the economy — an action that could roil Republicans and GOP presidential nominee Mitt Romney since it would probably occur in the heat of the general election.
Speaking on the morning after Romney's nomination address, which focused on the sluggish economy, Bernanke expressed his dissatisfaction with the weak recovery and in particular with what he described as the "painfully slow" improvement in the job market.
But while Romney and other Republican leaders have generally opposed further monetary stimulus for the economy, warning of the risks of inflation and asset bubbles, Bernanke on Friday carefully laid out a case for likely additional action by the central bank.
In a highly anticipated speech delivered at the Fed's annual retreat in Jackson Hole, Wyo., Bernanke defended the institution's moves to bolster the economy through purchases of more than $2 trillion of bonds since late 2008. In buying massive amounts of Treasury and other government bonds, the Fed sought to stimulate investments and spending by driving down long-term interest rates.
"We must not lose sight of the daunting economic challenges that confront our nation," Bernanke said, though he acknowledged that the cost and benefits of more bond-buying are uncertain.
"The stagnation of the labor market in particular is a grave concern not only because of the enormous suffering and waste of human talent it entails," he said, "but also because persistently high levels of unemployment will wreak structural damage on our economy that could last for many years."
READ FULL ARTICLE.. HERE
Preparing For A Post Israel Middle East - Foreign Policy Journal
August 28, 2012
Preparing For A Post Israel Middle East
“Preparing For A Post Israel Middle East”, an 82-page analysis that concludes that the American national interest in fundamentally at odds with that of Zionist Israel. The authors conclude that Israel is currently the greatest threat to US national interests because its nature and actions prevent normal US relations with Arab and Muslim countries and, to a growing degree, the wider international community.
The study was commissioned by the US Intelligence Community comprising 16 American intelligence agencies with an annual budget in excess of $ 70 billion. The IC includes the Departments of the Navy, Army, Air Force, Marine Corps, Coast Guard, Defense Intelligence Agency, Departments of Energy, Homeland Security, State, Treasure, Drug Enforcement Agency, Federal Bureau of Investigation, National Security Agency, National Geospatial Intelligence Agency, National Reconnaissance Agency and the Central Intelligence Agency commissioned the study.
Some of the keypoints:
Israel, given its current brutal occupation and belligerence cannot be salvaged any more than apartheid south Africa could be when as late as 1987 Israel was the only “Western” nation that upheld diplomatic ties with South Africa and was the last country to join the international boycott campaign before the regime collapsed;
The Israel leadership, with its increasing support of the 700,000 settlers in illegal colonies in the occupied West Bank is increasing out of touch with the political, military and economic realities of the Middle East;
The post Labor government Likud coalition is deeply complicit with and influenced by the settlers’ political and financial power and will increasingly face domestic civil strife which the US government should not associate itself with or become involved with;
The Arab Spring and Islamic Awakening has to a major degree freed a large majority of the 1.2 billion Arab and Muslims to pursue what an overwhelming majority believe is the illegitimate, immoral and unsustainable European occupation of Palestine of the indigenous population;
Simultaneous with, but predating, rapidly expanding Arab and Muslim power in the region as evidenced by the Arab spring, Islamic Awakening and the ascendancy of Iran, as American power and influence recedes, the US commitment to belligerent oppressive Israel is becoming impossible to defend or execute consistent given paramount US national interests which include normalizing relations with the 57 Islamic countries;
Gross Israeli interference in the internal affairs of the United States through spying and illegal US arms transfers. This includes supporting more than 60 ‘front organizations’ and approximately 7,500 US officials who do Israel’s bidding and seek to dominate and intimidate the media and agencies of the US government which should no longer be condoned;
That the United States government no longer has the financial resources, or public support to continue funding Israel. The billions of dollars in direct and indirect aid from US taxpayers to Israel since 1967 is not affordable and is increasingly being objected to by US taxpayers who oppose continuing American military involvement in the Middle East.
US public opinion no longer supports funding and executing widely perceived illegal US wars on Israel’s behalf. This view is increasingly being shared by Europe, Asia and the International public;
Israel’s segregationist occupation infrastructure evidenced by legalized discrimination and increasingly separate and unequal justice systems must no longer be directly or indirectly funded by the US taxpayers or ignored by the US government;
Israel has failed as a claimed democratic state and continued American financial and political cover will not change its continuing devolution as international pariah state;
Increasingly, rampant and violent racism exhibited among Jewish settlers in the West Bank is being condoned by the Israeli government to a degree that the Israel government has become its protector and partner;
The expanding chasm among American jewish people objecting to Zionism and Israeli practices, including the killing and brutalizing of Palestinians under Israeli occupation, are gross violations of American and International law and raise questions within the US Jewish community regarding the American responsibility to protect (R2P) innocent civilians under occupation;
The international opposition to the increasingly apartheid regime can no longer be synchronized with American claimed humanitarian values or US expectations in its bi-lateral relations with the 193 member United Nations;
The Draft ends with language about the need to avoid entangling alliances that alienate much of the World and condemn American citizens to endure the consequences.
link to www.foreignpolicyjournal.com
Preparing For A Post Israel Middle East
“Preparing For A Post Israel Middle East”, an 82-page analysis that concludes that the American national interest in fundamentally at odds with that of Zionist Israel. The authors conclude that Israel is currently the greatest threat to US national interests because its nature and actions prevent normal US relations with Arab and Muslim countries and, to a growing degree, the wider international community.
The study was commissioned by the US Intelligence Community comprising 16 American intelligence agencies with an annual budget in excess of $ 70 billion. The IC includes the Departments of the Navy, Army, Air Force, Marine Corps, Coast Guard, Defense Intelligence Agency, Departments of Energy, Homeland Security, State, Treasure, Drug Enforcement Agency, Federal Bureau of Investigation, National Security Agency, National Geospatial Intelligence Agency, National Reconnaissance Agency and the Central Intelligence Agency commissioned the study.
Some of the keypoints:
Israel, given its current brutal occupation and belligerence cannot be salvaged any more than apartheid south Africa could be when as late as 1987 Israel was the only “Western” nation that upheld diplomatic ties with South Africa and was the last country to join the international boycott campaign before the regime collapsed;
The Israel leadership, with its increasing support of the 700,000 settlers in illegal colonies in the occupied West Bank is increasing out of touch with the political, military and economic realities of the Middle East;
The post Labor government Likud coalition is deeply complicit with and influenced by the settlers’ political and financial power and will increasingly face domestic civil strife which the US government should not associate itself with or become involved with;
The Arab Spring and Islamic Awakening has to a major degree freed a large majority of the 1.2 billion Arab and Muslims to pursue what an overwhelming majority believe is the illegitimate, immoral and unsustainable European occupation of Palestine of the indigenous population;
Simultaneous with, but predating, rapidly expanding Arab and Muslim power in the region as evidenced by the Arab spring, Islamic Awakening and the ascendancy of Iran, as American power and influence recedes, the US commitment to belligerent oppressive Israel is becoming impossible to defend or execute consistent given paramount US national interests which include normalizing relations with the 57 Islamic countries;
Gross Israeli interference in the internal affairs of the United States through spying and illegal US arms transfers. This includes supporting more than 60 ‘front organizations’ and approximately 7,500 US officials who do Israel’s bidding and seek to dominate and intimidate the media and agencies of the US government which should no longer be condoned;
That the United States government no longer has the financial resources, or public support to continue funding Israel. The billions of dollars in direct and indirect aid from US taxpayers to Israel since 1967 is not affordable and is increasingly being objected to by US taxpayers who oppose continuing American military involvement in the Middle East.
US public opinion no longer supports funding and executing widely perceived illegal US wars on Israel’s behalf. This view is increasingly being shared by Europe, Asia and the International public;
Israel’s segregationist occupation infrastructure evidenced by legalized discrimination and increasingly separate and unequal justice systems must no longer be directly or indirectly funded by the US taxpayers or ignored by the US government;
Israel has failed as a claimed democratic state and continued American financial and political cover will not change its continuing devolution as international pariah state;
Increasingly, rampant and violent racism exhibited among Jewish settlers in the West Bank is being condoned by the Israeli government to a degree that the Israel government has become its protector and partner;
The expanding chasm among American jewish people objecting to Zionism and Israeli practices, including the killing and brutalizing of Palestinians under Israeli occupation, are gross violations of American and International law and raise questions within the US Jewish community regarding the American responsibility to protect (R2P) innocent civilians under occupation;
The international opposition to the increasingly apartheid regime can no longer be synchronized with American claimed humanitarian values or US expectations in its bi-lateral relations with the 193 member United Nations;
The Draft ends with language about the need to avoid entangling alliances that alienate much of the World and condemn American citizens to endure the consequences.
link to www.foreignpolicyjournal.com
Going Global headline News For Friday, August 31, 2012 ...
*BLUE MOON .. HAVE A WONDERFUL DAY!
*What Are We Looking For? .. September 2012 ...
*Another Financial Crisis Is Coming As One Of The Biggest U.S. Investment Banks Is On The Verge Of Collapse
*'Obama puting off Iran invasion until November' .. (Thank you to your soul knows for sending the following e-mail and .. We agree .. the 'As Above, So Below' Team is Awesome ..)
*Labor Day in United States .. Monday, September 3, 2012 .. Bank Holiday .. and ..ALSO .. Link .. *Temple Israel .. Monday * September 3 * Temple Offices will be closed in observance of Labor Day
*Monday, Sept. 3rd .. Foreign Relations Committee will host Foreign Minister Zebari said on Monday
*Asia edges towards giant free trade zone: ASEAN ...
*APEC Economies Reaffirm Commitment to Strong, Sustainable, Balanced Global Growth ...
*China says seeks WTO help in trade row with US ...
*Clinton says Pacific big enough for US, China
*Central: a proposed sale of gold coins meant to soak up liquidity and curb inflation
*Shaways: KRG is ready to negotiate on the dispute over the oil law
*Don’t expect the European Central Bank single-handedly to save the euro
*Contribution from Mario Draghi, President of the ECB
*Bernanke has made clear he was not satisfied with the economy's progress and says Fed to act as needed but is mindful of the risks ... .. and .. *Federal Reserve To Crash Markets Before Launching QE3? .. and also, Link .. *Lindsey Williams (May 2012 Bumped By Request) What To Look For .. Any move by the central bank to raise rates would collapse the economy overnight .. and link .. *Federal Reserve Policy Meeting September 12-13-2012 ~ Look For QE3 ...
*Earthquake 7.6 .. 8/31/2012 - 7.6 magnitude earthquake in Philippines
*Deputy for Iraq: status quo best times for national meeting
*Iraq and UN Security Council; Participated in the meeting of the Security Council on the humanitarian situation Syrian crisis and regional security
*Maliki meets with Supreme Leader of the Islamic Republic of Iran Ali Khamenei
*Iraqi investment conference due in Berlin Sept. 24-25-2012 ...
*Iraq .. Susan Saad warns of a regional scheme to exploit the unemployed youth to form armed groups
*Clinton in Pacific islands to renew US influence
*The Global Village: Connected World Drives Economic Shift
*Links ~ End of The Dollar ...
*LINKS - GLOBAL ECONOMY - GLOBAL CURRENCY ...
*September 21, 2012 .. Prediction By James Dale Davidson ...
*Going Global Headline News For Thursday, August 30, 2012 ...
China says seeks WTO help in trade row with US ...
August 31, 2012
China says seeks WTO help in trade row with US
China on Friday called on the World Trade Organisation (WTO) to mediate in a $7.3 billion trade dispute with the United States over 22 types of products.
China's commerce ministry requested the world trade body to set up a panel after consultations failed to resolve the row over US anti-subsidy duties on the Chinese products, including solar cells, a statement said.
Beijing signalled in May it would challenge the US duties by requesting consultations, which were held in July, it said.
The WTO panel has six months to report to the parties involved after it is set up, according to the rules of the global trade body.
Washington argues the Chinese products are unfairly subsidised, while China claims the US imposition of the countervailing duties are an "abuse" of trade rules which harm the rights of its companies.
China says seeks WTO help in trade row with US
China on Friday called on the World Trade Organisation (WTO) to mediate in a $7.3 billion trade dispute with the United States over 22 types of products.
China's commerce ministry requested the world trade body to set up a panel after consultations failed to resolve the row over US anti-subsidy duties on the Chinese products, including solar cells, a statement said.
Beijing signalled in May it would challenge the US duties by requesting consultations, which were held in July, it said.
The WTO panel has six months to report to the parties involved after it is set up, according to the rules of the global trade body.
Washington argues the Chinese products are unfairly subsidised, while China claims the US imposition of the countervailing duties are an "abuse" of trade rules which harm the rights of its companies.
Clinton says Pacific big enough for US, China
August 31, 2012
Clinton says Pacific big enough for US, China
Secretary of State Hillary Clinton vowed Friday the United States would remain active in the South Pacific for the "long haul" but said the region was big enough for a rising China.
Clinton announced some $32 million in new aid projects as she became the first US secretary of state to take part in an annual South Pacific summit, in a sign of renewed interest in the vast but often overlooked region.
Clinton's visit comes as many islands forge closer ties with China, which according to Australia's Lowy Institute has pledged more than $600 million in low-interest and mostly strings-free loans to the South Pacific since 2005.
Clinton says Pacific big enough for US, China
Secretary of State Hillary Clinton vowed Friday the United States would remain active in the South Pacific for the "long haul" but said the region was big enough for a rising China.
Clinton announced some $32 million in new aid projects as she became the first US secretary of state to take part in an annual South Pacific summit, in a sign of renewed interest in the vast but often overlooked region.
Clinton's visit comes as many islands forge closer ties with China, which according to Australia's Lowy Institute has pledged more than $600 million in low-interest and mostly strings-free loans to the South Pacific since 2005.
Central: a proposed sale of gold coins meant to soak up liquidity and curb inflation
09/01/2012
Central: a proposed sale of gold coins meant to soak up liquidity and curb inflation
He stressed that a good reserve of banks and individuals and an alternative cash successful
BAGHDAD - Haider Flaih Rubaie
Seeks CBI to strengthen financial wealth through expansion deal to include gold bullion as well as the dollar, while finished completing the feasibility study the technical and economic project credit card, which will enable customers to reach Freelance anywhere, anytime, announced the central he is committed to accountability in front of the legislature, according to the limits of validity authorized by, stressing that every issue for the last of the decisions are enforceable by the Bank. said deputy central bank governor Dr appearance of Mohammed Saleh during a statement he made to the Center Brief Iraqi Media Network: The Constitution committed the central bank accountable to the House of Representatives and there is no response by the bank without any hesitation, a committed and implemented anything issued by the Council». said «We as an institution we have to prepare for accountability and defense according to the possibilities of its mandated According to the Constitution», indicating that «our answers will be within our mandate authorized by».
Central: a proposed sale of gold coins meant to soak up liquidity and curb inflation
He stressed that a good reserve of banks and individuals and an alternative cash successful
BAGHDAD - Haider Flaih Rubaie
Seeks CBI to strengthen financial wealth through expansion deal to include gold bullion as well as the dollar, while finished completing the feasibility study the technical and economic project credit card, which will enable customers to reach Freelance anywhere, anytime, announced the central he is committed to accountability in front of the legislature, according to the limits of validity authorized by, stressing that every issue for the last of the decisions are enforceable by the Bank. said deputy central bank governor Dr appearance of Mohammed Saleh during a statement he made to the Center Brief Iraqi Media Network: The Constitution committed the central bank accountable to the House of Representatives and there is no response by the bank without any hesitation, a committed and implemented anything issued by the Council». said «We as an institution we have to prepare for accountability and defense according to the possibilities of its mandated According to the Constitution», indicating that «our answers will be within our mandate authorized by».
Labor Day in United States .. Monday, September 3, 2012 .. Bank Holiday
ALSO .. Link .. *Temple Israel .. Monday * September 3 * Temple Offices will be closed in observance of Labor Day
Labor Day in United States
Monday, September 3, Labor Day
Labor Day is annually held on the first Monday of September. It was originally organized to celebrate various labor associations' strengths of and contributions to the United States economy. It is largely a day of rest in modern times. Many people mark Labor Day as the end of the summer season and a last chance to make trips or hold outdoor events.
What do people do? .. Labor Day is a day of rest or the last chance for many people to go on trips before the summer ends. For students, it is the last chance to organize parties before school starts again. In some neighborhoods, people organize fireworks displays, barbecues and public arts or sports events. The football season starts on or around Labor Day and many teams play their first game of the year during Labor Day weekend.
Labor Day in United StatesMonday, September 3, Labor Day
Labor Day is annually held on the first Monday of September. It was originally organized to celebrate various labor associations' strengths of and contributions to the United States economy. It is largely a day of rest in modern times. Many people mark Labor Day as the end of the summer season and a last chance to make trips or hold outdoor events.
What do people do? .. Labor Day is a day of rest or the last chance for many people to go on trips before the summer ends. For students, it is the last chance to organize parties before school starts again. In some neighborhoods, people organize fireworks displays, barbecues and public arts or sports events. The football season starts on or around Labor Day and many teams play their first game of the year during Labor Day weekend.
'Obama puting off Iran invasion until November'
Link .. Obama putting off Iran Invasion until Nov!!
August 29, 2012
'Obama puting off Iran invasion until November'
President Obama has managed to avoid war with Iran, but his wars still could come back to haunt him, Andrew Levine, a scholar at a Washington think tank told RT, exposing the pitfalls of the US electoral system and Obama's term in the White House.
RT: You contributed to a book entitled Hopeless: Barack Obama and the politics of Illusion. What was the illusion in your opinion, and how did it become hopeless?
August 29, 2012
'Obama puting off Iran invasion until November'
President Obama has managed to avoid war with Iran, but his wars still could come back to haunt him, Andrew Levine, a scholar at a Washington think tank told RT, exposing the pitfalls of the US electoral system and Obama's term in the White House.
RT: You contributed to a book entitled Hopeless: Barack Obama and the politics of Illusion. What was the illusion in your opinion, and how did it become hopeless?
Don’t expect the European Central Bank single-handedly to save the euro
September 1st 2012
High gloom .. Don’t expect the European Central Bank single-handedly to save the euro
SOMEBODY must have put on the wrong film. In late July Mario Draghi, president of the European Central Bank, came out looking like a tough sheriff ready to take on bond-market speculators while others cringed. The euro was irreversible, he declared. “The ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”
High gloom .. Don’t expect the European Central Bank single-handedly to save the euro
SOMEBODY must have put on the wrong film. In late July Mario Draghi, president of the European Central Bank, came out looking like a tough sheriff ready to take on bond-market speculators while others cringed. The euro was irreversible, he declared. “The ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”
Contribution from Mario Draghi, President of the ECB
August 29, 2012
Contribution from Mario Draghi, President of the ECB
Across Europe, a fundamental debate is taking place about the future of the euro. Many citizens are concerned about where Europe is heading. Yet the solutions presented appear to them unsatisfactory. This is because these solutions offer binary choices: either we must go back to the past, or we must move to a United States of Europe. My answer to the question is: to have a stable euro we do not need to choose between extremes.
Contribution from Mario Draghi, President of the ECB
Across Europe, a fundamental debate is taking place about the future of the euro. Many citizens are concerned about where Europe is heading. Yet the solutions presented appear to them unsatisfactory. This is because these solutions offer binary choices: either we must go back to the past, or we must move to a United States of Europe. My answer to the question is: to have a stable euro we do not need to choose between extremes.
Bernanke has made clear he was not satisfied with the economy's progress and says Fed to act as needed but is mindful of the risks ...
Related articles .. *Federal Reserve To Crash Markets Before Launching QE3? .. and also, Link .. *Lindsey Williams (May 2012 Bumped By Request) What To Look For .. Any move by the central bank to raise rates would collapse the economy overnight .. and link .. *Federal Reserve Policy Meeting September 12-13-2012 ~ Look For QE3 ...
Snips from article below .. "As an alternative, many economists say, the Fed may simply push further into the future the date it thinks it will finally start to move interest rates higher. The central bank has said since January that it expects to keep rates near zero at least through late 2014"
Snip .. "In response to the financial crisis and recession of 2007-2009, the Fed cut official rates to zero and bought $2.3 trillion in government and mortgage securities. It next meets on September 12-13"
August 31, 2012
Bernanke says Fed to act as needed but mindful of risks
Federal Reserve Chairman Ben Bernanke on Friday said the U.S. economy faced "daunting" challenges and that progress reducing unemployment had been too slow, but he stopped short of providing a clear signal of further monetary policy easing.
Bernanke said the central bank would act as needed to strengthen the recovery but he also said it had to weigh the costs as well as the benefits of more monetary stimulus, although he hinted the costs may be worthwhile.
"It is important to achieve further progress, particularly in the labor market," Bernanke said at the Kansas City Fed's annual Jackson Hole symposium. "Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability."
READ FULL ARTICLE .. HERE
Snips from article below .. "As an alternative, many economists say, the Fed may simply push further into the future the date it thinks it will finally start to move interest rates higher. The central bank has said since January that it expects to keep rates near zero at least through late 2014"
Snip .. "In response to the financial crisis and recession of 2007-2009, the Fed cut official rates to zero and bought $2.3 trillion in government and mortgage securities. It next meets on September 12-13"
August 31, 2012Bernanke says Fed to act as needed but mindful of risks
Federal Reserve Chairman Ben Bernanke on Friday said the U.S. economy faced "daunting" challenges and that progress reducing unemployment had been too slow, but he stopped short of providing a clear signal of further monetary policy easing.
Bernanke said the central bank would act as needed to strengthen the recovery but he also said it had to weigh the costs as well as the benefits of more monetary stimulus, although he hinted the costs may be worthwhile.
"It is important to achieve further progress, particularly in the labor market," Bernanke said at the Kansas City Fed's annual Jackson Hole symposium. "Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability."
READ FULL ARTICLE .. HERE
Major 7.9 quake hits near Philippines, tsunami warning issued
August 31, 2012Major 7.9 quake hits near Philippines, tsunami warning issued
A major 7.9 earthquake hit the sea area east of the Philippines on Friday and a tsunami warning was issued for the Philippines, Indonesia, Taiwan and Japan, US seismologists said.
The US Geological Survey said the quake had a depth of 33 kilometres (20 miles) and hit at 8:47 pm (1247 GMT) some 139 kilometres east of the city of Sulangan.
source
Deputy for Iraq: status quo best times for national meeting
2012-08-31 Friday
Deputy for Iraq: status quo best times for national meeting
Baghdad, Deputy dialogue Coalition Iraqi Thamer Al-alwani, current political situations that are best for the national meeting and come up with positive results solve political problems.
In a statement, said Al-alwani (News Agency news) on Friday that the current political situation the best times for a national meeting of a keen political blocs to resolve differences and unite to prevent the impact of Iraq with consequences in the area of unrest.
Deputy for Iraq: status quo best times for national meeting
Baghdad, Deputy dialogue Coalition Iraqi Thamer Al-alwani, current political situations that are best for the national meeting and come up with positive results solve political problems.
In a statement, said Al-alwani (News Agency news) on Friday that the current political situation the best times for a national meeting of a keen political blocs to resolve differences and unite to prevent the impact of Iraq with consequences in the area of unrest.
Iraq and UN Security Council; Participated in the meeting of the Security Council on the humanitarian situation Syrian crisis and regional security
2012-08-31, Friday
Iraq participated in the meeting of the Security Council on the humanitarian situation of the Syrian crisis and its repercussions on regional security
Baghdad, Iraq participated, on Thursday, the UN Security Council meeting to discuss the humanitarian needs of refugees and Syrian Syrian crisis impact on regional security.
The invitation comes as Iraq by France, President of the current session of the Security Council.
According to a statement by the foreign received (News Agency news) on Friday that the Under-Secretary for multilateral relations and international organizations, such as Mohammad aldorki in Iraq, who hosted the meeting neighbors Syria "Iraq, Jordan, Lebanon, Turkey".
Iraq participated in the meeting of the Security Council on the humanitarian situation of the Syrian crisis and its repercussions on regional security
Baghdad, Iraq participated, on Thursday, the UN Security Council meeting to discuss the humanitarian needs of refugees and Syrian Syrian crisis impact on regional security.
The invitation comes as Iraq by France, President of the current session of the Security Council.
According to a statement by the foreign received (News Agency news) on Friday that the Under-Secretary for multilateral relations and international organizations, such as Mohammad aldorki in Iraq, who hosted the meeting neighbors Syria "Iraq, Jordan, Lebanon, Turkey".
Monday, Sept. 3rd .. Foreign Relations Committee will host Foreign Minister Zebari said on Monday
Friday, August 31, 2012
Foreign Relations Committee will host Foreign Minister Zebari said on Monday
Revealed to the Parliamentary Foreign Relations Committee that the Committee will host Foreign Minister Hoshyar Zebari said on Monday.
Abbas Amiri said in a statement published by news of public opinion, on Friday, said the Foreign Relations Committee will host Foreign Minister Hoshyar Zebari on Monday to discuss several of the most important issues Twenty-seventh session of the Foreign Service Institute and Davutoglu's visit to Kirkuk.
A parliamentary source said earlier that MP Sami al-Askari, a member of the Foreign Relations Committee, confirmed the receipt of information from the Ministry of Foreign Affairs will open soon Institute cycle despite parliament's decision to stop it.
source
Foreign Relations Committee will host Foreign Minister Zebari said on Monday
Revealed to the Parliamentary Foreign Relations Committee that the Committee will host Foreign Minister Hoshyar Zebari said on Monday.
Abbas Amiri said in a statement published by news of public opinion, on Friday, said the Foreign Relations Committee will host Foreign Minister Hoshyar Zebari on Monday to discuss several of the most important issues Twenty-seventh session of the Foreign Service Institute and Davutoglu's visit to Kirkuk.
A parliamentary source said earlier that MP Sami al-Askari, a member of the Foreign Relations Committee, confirmed the receipt of information from the Ministry of Foreign Affairs will open soon Institute cycle despite parliament's decision to stop it.
source
Maliki meets with Supreme Leader of the Islamic Republic of Iran Ali Khamenei
August 31, 2012
Maliki meets with Supreme Leader of the Islamic Republic of Iran Ali Khamenei
Met with Prime Minister Nuri al-Maliki in Tehran, Friday, Iran's Supreme Leader Ali Khamenei on the sidelines of the summit of Non-Aligned Countries.
Iraqi television reported the semi-official al-Maliki met with the Supreme Leader of the Islamic Revolution Ali Khamenei in Tehran today.
Prime Minister Nuri al-Maliki has called for in his speech yesterday during the Non-Aligned summit in Tehran of the Non-Aligned Movement and in collaboration with the United Nations to take a unified stand to stop the bloodshed in Syria and the serious consequences of the continuation of the armed conflict which prolonged without finding a solution.
source
Maliki meets with Supreme Leader of the Islamic Republic of Iran Ali Khamenei
Met with Prime Minister Nuri al-Maliki in Tehran, Friday, Iran's Supreme Leader Ali Khamenei on the sidelines of the summit of Non-Aligned Countries.
Iraqi television reported the semi-official al-Maliki met with the Supreme Leader of the Islamic Revolution Ali Khamenei in Tehran today.
Prime Minister Nuri al-Maliki has called for in his speech yesterday during the Non-Aligned summit in Tehran of the Non-Aligned Movement and in collaboration with the United Nations to take a unified stand to stop the bloodshed in Syria and the serious consequences of the continuation of the armed conflict which prolonged without finding a solution.
source
Iraq .. Susan Saad warns of a regional scheme to exploit the unemployed youth to form armed groups
(a very intelligent woman)
Friday, August 31, 2012
Susan Saad warns of a regional scheme to exploit the unemployed youth to form armed groups
MP warned for virtue parliamentary bloc Susan Saad, of a regional scheme to exploit unemployed youth to form armed groups raise suspicion to achieve certain goals in Iraq.
She said in a statement Friday that there is a blueprint of some regional regional countries to destabilize Iraq's security resulting from dissatisfaction of Alttoralhasal it, especially after March as the first Arab country to democracy arose after throughout the years of repression.
And called on religious leaders and local governments and tribal elders and dignitaries and government organizations and non-governmental organizations to adopt an active role in addressing these attempts, which is trying to weaken Iraq's land and people.
source
Friday, August 31, 2012
Susan Saad warns of a regional scheme to exploit the unemployed youth to form armed groups
MP warned for virtue parliamentary bloc Susan Saad, of a regional scheme to exploit unemployed youth to form armed groups raise suspicion to achieve certain goals in Iraq.
She said in a statement Friday that there is a blueprint of some regional regional countries to destabilize Iraq's security resulting from dissatisfaction of Alttoralhasal it, especially after March as the first Arab country to democracy arose after throughout the years of repression.
And called on religious leaders and local governments and tribal elders and dignitaries and government organizations and non-governmental organizations to adopt an active role in addressing these attempts, which is trying to weaken Iraq's land and people.
source
Shaways: KRG is ready to negotiate on the dispute over the oil law
Friday, August 31, 2012
Shaways: KRG is ready to negotiate on the dispute over the oil law
Said Iraqi Deputy Prime Minister Ruz Nuri Shawis of the Kurdistan region is ready to resume talks with Baghdad to end their political differences, particularly on the oil law deferred for a long time.
Shawis told Reuters on Friday, the Kurdistan region is believed to be possible to resolve the dispute over the oil through an amended draft of the oil and gas law dating back to 2007 and the draft, which were approved by all parties in the past.
Shaways said there draft agreed in 2007 in accordance with the Convention on Arbil considered as a basis to resolve the issue of oil, the adoption of this draft and the addition of some amendments to the agreement of the parties that were necessary.
source
Shaways: KRG is ready to negotiate on the dispute over the oil law
Said Iraqi Deputy Prime Minister Ruz Nuri Shawis of the Kurdistan region is ready to resume talks with Baghdad to end their political differences, particularly on the oil law deferred for a long time.
Shawis told Reuters on Friday, the Kurdistan region is believed to be possible to resolve the dispute over the oil through an amended draft of the oil and gas law dating back to 2007 and the draft, which were approved by all parties in the past.
Shaways said there draft agreed in 2007 in accordance with the Convention on Arbil considered as a basis to resolve the issue of oil, the adoption of this draft and the addition of some amendments to the agreement of the parties that were necessary.
source
Clinton in Pacific islands to renew US influence
August 31, 2012
Clinton in Pacific islands to renew US influence
Hillary Clinton flew Thursday to the remote Cook Islands to become the first US secretary of state at a South Pacific summit, hoping to renew influence in a region of growing Chinese clout.
Dozens of women sporting bikini tops and pink and blue headdresses joined bare-chested men in a rousing airport welcome, dancing energetically to drums and chanting songs as a beaming Clinton walked down to the asphalt.
Clinton will hold talks Friday as the most senior US official ever to take part in the 15-nation Pacific Island Forum, in a pointed sign of Washington's desire to re-engage in a region it has often overlooked in recent decades.
President Barack Obama's administration has vowed to put a top priority on Asia, hoping to shape the future of a fast-growing continent marked by China's rise, and officials said that the Pacific was a vital element.
read full article @ source
Clinton in Pacific islands to renew US influence
Hillary Clinton flew Thursday to the remote Cook Islands to become the first US secretary of state at a South Pacific summit, hoping to renew influence in a region of growing Chinese clout.
Dozens of women sporting bikini tops and pink and blue headdresses joined bare-chested men in a rousing airport welcome, dancing energetically to drums and chanting songs as a beaming Clinton walked down to the asphalt.
Clinton will hold talks Friday as the most senior US official ever to take part in the 15-nation Pacific Island Forum, in a pointed sign of Washington's desire to re-engage in a region it has often overlooked in recent decades.
President Barack Obama's administration has vowed to put a top priority on Asia, hoping to shape the future of a fast-growing continent marked by China's rise, and officials said that the Pacific was a vital element.
read full article @ source
Thursday, August 30, 2012
U.S. Senator Reid, son combine for China firm's desert plant (Nevada)
Friday, August 31, 2012
U.S. Senator Reid, son combine for China firm's desert plant
Washington, U.S. Senator Harry Reid recognized nine years ago that connections between his official duties and the lobbying activities of his relatives could lead to ethical questions.
In 2003, the Nevada Democrat publicly banned relatives from lobbying him or his staff after newspaper reports showed that Nevada industries and institutions routinely turned to Reid's sons or son-in-law for representation.
Now, questions surrounding family ties are flaring again in Nevada around the Senate majority leader. He and his oldest son, Rory, are both involved in an effort by a Chinese energy giant, ENN Energy Group, to build a $5 billion solar farm and panel manufacturing plant in the southern Nevada desert.
Reid has been one of the project's most prominent advocates, helping recruit the company during a 2011 trip to China and applying his political muscle on behalf of the project in Nevada. His son, a lawyer with a prominent Las Vegas firm that is representing ENN, helped it locate a 9,000-acre (3,600-hectare) desert site that it is buying well below appraised value from Clark County, where Rory Reid formerly chaired the county commission.
Craig Holman, a lobbyist for the non-partisan advocacy group Public Citizen, said the senator is dealing with "an iffy ethical landscape" because of the family connections and should recuse himself from the project. "Is this just happening because ... it benefits the Reid family, or did Harry Reid actually believe in this?" Holman said.
The senator has supported numerous clean energy projects in Nevada. Rory Reid cites energy as one of his specialty areas at the law firm.
The two Reids deny discussing the ENN project.
"I have never discussed the project with my father or his staff," said Rory Reid. Kristen Orthman, a spokeswoman for the senator, said he had not discussed the project with his son.
The Langfang, China-based ENN Energy Group hopes to build what would be the largest solar energy complex in America. The site chosen with Rory Reid's guidance is in tiny Laughlin, Nevada, a gambling town of 7,300 along the Colorado River, 90 miles south of Las Vegas.
County officials have said that they were so thrilled to recruit a company to the area, with the prospect of thousands of new local jobs, that they were eager to negotiate.
ENN is headed by Chinese energy tycoon Wang Yusuo, who made a fortune estimated by Forbes at $2.2 billion distributing natural gas in China. Wang escorted Reid and a delegation of nine other U.S. senators on a tour of the company's clean energy operations in Langfang, and Reid featured Wang as a speaker at his 4th annual National Clean Energy Summit in Las Vegas last year.
read full article @ source
U.S. Senator Reid, son combine for China firm's desert plant
Washington, U.S. Senator Harry Reid recognized nine years ago that connections between his official duties and the lobbying activities of his relatives could lead to ethical questions.
In 2003, the Nevada Democrat publicly banned relatives from lobbying him or his staff after newspaper reports showed that Nevada industries and institutions routinely turned to Reid's sons or son-in-law for representation.
Now, questions surrounding family ties are flaring again in Nevada around the Senate majority leader. He and his oldest son, Rory, are both involved in an effort by a Chinese energy giant, ENN Energy Group, to build a $5 billion solar farm and panel manufacturing plant in the southern Nevada desert.
Reid has been one of the project's most prominent advocates, helping recruit the company during a 2011 trip to China and applying his political muscle on behalf of the project in Nevada. His son, a lawyer with a prominent Las Vegas firm that is representing ENN, helped it locate a 9,000-acre (3,600-hectare) desert site that it is buying well below appraised value from Clark County, where Rory Reid formerly chaired the county commission.
Craig Holman, a lobbyist for the non-partisan advocacy group Public Citizen, said the senator is dealing with "an iffy ethical landscape" because of the family connections and should recuse himself from the project. "Is this just happening because ... it benefits the Reid family, or did Harry Reid actually believe in this?" Holman said.
The senator has supported numerous clean energy projects in Nevada. Rory Reid cites energy as one of his specialty areas at the law firm.
The two Reids deny discussing the ENN project.
"I have never discussed the project with my father or his staff," said Rory Reid. Kristen Orthman, a spokeswoman for the senator, said he had not discussed the project with his son.
The Langfang, China-based ENN Energy Group hopes to build what would be the largest solar energy complex in America. The site chosen with Rory Reid's guidance is in tiny Laughlin, Nevada, a gambling town of 7,300 along the Colorado River, 90 miles south of Las Vegas.
County officials have said that they were so thrilled to recruit a company to the area, with the prospect of thousands of new local jobs, that they were eager to negotiate.
ENN is headed by Chinese energy tycoon Wang Yusuo, who made a fortune estimated by Forbes at $2.2 billion distributing natural gas in China. Wang escorted Reid and a delegation of nine other U.S. senators on a tour of the company's clean energy operations in Langfang, and Reid featured Wang as a speaker at his 4th annual National Clean Energy Summit in Las Vegas last year.
read full article @ source
Another Financial Crisis Is Coming As One Of The Biggest U.S. Investment Banks Is On The Verge Of Collapse
Related articles .. link .. *Bye retirement and 401 k plans .. Links ...
August 30, 2012
Another Financial Crisis Is Coming As One Of The Biggest U.S. Investment Banks Is On The Verge Of Collapse
Jim Willie’s latest Hat Trick Letter, ‘Firestorms & Currency Twisters‘ is a MUST READ!!Willie states that Morgan Stanley faces IMMINENT FAILURE & RUIN, that The older employees are selling all of their stock, and that Many workers are making contingency plans for their next positions in another firm.
He states that JP Morgan will devour the carcass, and that The Morgue may be preparing to execute the 1st ever private stock account vaporization/ rehypothecation.
AN ABSOLUTE MUST READ!!!
MORGAN STANLEY IMPLOSION
The insider conversation, often called chatter when it become deafening in tone, is that Morgan Stanley faces imminent failure and ruin. Almost two weeks ago, the Jackass provided a tip to Bill Murphy of GATA to post on his popular LeMetropole Cafe that Morgan Stanley fund managers and high ranking employees were preparing for the firm’s implosion. A subscriber to the Hat Trick Letter has a good friend whose father works as a fund manager and provided the story. It was not detailed, and bore no follow-up after my request. The older employees are selling all of their stock, some legacy stock from one or two decades ago. Many workers are making contingency plans for their next positions in another firm. When Lehman Brothers was killed, thousands of employees had to find new jobs, some without success. In the last week, the shock waves are being heard from internal Wall Street sources in an unequivocal manner. The implosion is in progress, like the collapse of several platforms and structural cables. The inside is caving in, and the ranking members recognize it, even talk about it openly. Much discussion swirls about a transition to antiquated software that is greatly disturbing the trading desks, causing tremendous problems at precisely the wrong time. A redux of the Knight disaster could be in progress.
Some like Rick Wiles of TruNews report that MS is heading for the sacrificial altar. Such an event would imply an expected benefit hoped for and beseeched.
August 30, 2012
Another Financial Crisis Is Coming As One Of The Biggest U.S. Investment Banks Is On The Verge Of Collapse
Jim Willie’s latest Hat Trick Letter, ‘Firestorms & Currency Twisters‘ is a MUST READ!!Willie states that Morgan Stanley faces IMMINENT FAILURE & RUIN, that The older employees are selling all of their stock, and that Many workers are making contingency plans for their next positions in another firm.
He states that JP Morgan will devour the carcass, and that The Morgue may be preparing to execute the 1st ever private stock account vaporization/ rehypothecation.
AN ABSOLUTE MUST READ!!!
MORGAN STANLEY IMPLOSION
The insider conversation, often called chatter when it become deafening in tone, is that Morgan Stanley faces imminent failure and ruin. Almost two weeks ago, the Jackass provided a tip to Bill Murphy of GATA to post on his popular LeMetropole Cafe that Morgan Stanley fund managers and high ranking employees were preparing for the firm’s implosion. A subscriber to the Hat Trick Letter has a good friend whose father works as a fund manager and provided the story. It was not detailed, and bore no follow-up after my request. The older employees are selling all of their stock, some legacy stock from one or two decades ago. Many workers are making contingency plans for their next positions in another firm. When Lehman Brothers was killed, thousands of employees had to find new jobs, some without success. In the last week, the shock waves are being heard from internal Wall Street sources in an unequivocal manner. The implosion is in progress, like the collapse of several platforms and structural cables. The inside is caving in, and the ranking members recognize it, even talk about it openly. Much discussion swirls about a transition to antiquated software that is greatly disturbing the trading desks, causing tremendous problems at precisely the wrong time. A redux of the Knight disaster could be in progress.
Some like Rick Wiles of TruNews report that MS is heading for the sacrificial altar. Such an event would imply an expected benefit hoped for and beseeched.
The Global Village: Connected World Drives Economic Shift
August 30, 2012
The Global Village: Connected World Drives Economic Shift
By Marina Primorac
Managing Editor, Finance & Development
*New convergence, interdependence profoundly changing world structure - More interconnectedness in global economy brings benefits, contagion risks -
*Global crisis requires supranational solutions, says IMF's Lagarde
The world economy is going through a major structural shift, with emerging markets rapidly catching up to advanced economies, says Kemal Dervis of the Brookings Institution.
As the world becomes ever more multipolar and interdependent, multilateral solutions are needed to fight the risks and reap the rewards of integration, (Dervis says in Finance & Development) magazine.
Good news and bad
The Global Village: Connected World Drives Economic Shift
By Marina Primorac
Managing Editor, Finance & Development
*New convergence, interdependence profoundly changing world structure - More interconnectedness in global economy brings benefits, contagion risks -
*Global crisis requires supranational solutions, says IMF's Lagarde
The world economy is going through a major structural shift, with emerging markets rapidly catching up to advanced economies, says Kemal Dervis of the Brookings Institution.
As the world becomes ever more multipolar and interdependent, multilateral solutions are needed to fight the risks and reap the rewards of integration, (Dervis says in Finance & Development) magazine.
Good news and bad
Links ~ End of The Dollar ...
Related Articles ... *Lindsey Williams (May 2012 Bumped By Request) What To Look For .. Any move by the central bank to raise rates would collapse the economy overnight
*The Federal Reserve's Explicit Goal: Devalue The Dollar 33%
*The Decline of Empire America - Gerald Celente ...
March 29th ~ Russian experts have hailed the decision by BRICS countries to replace the US dollar by own currencies in mutual credit lines
LINKS - GLOBAL ECONOMY - GLOBAL CURRENCY ...
Bumped ~ additional links added ...
*The G-20’s Secret Debt Solution ... ~ snip ... The three currencies will essentially be a new dollar, new euro, and a new pan-Asian currency. (The Chinese yuan may survive as a fourth currency, but it will be linked to a basket of the three new currencies.) .. The G-20’s Secret Debt Solution ...
U.N. TO EMERGE AS GLOBAL IRS - UN DECLARATION MARCH. 23-24TH
*** The Financial New World Order: Towards a Global Currency and World Government ...
Interesting Article from fofoa ~ Call-Me-Contrarian ...
UN to Produce Bullion coins as World Currency
Global Reserve Currency is Here - WOCU
*The G-20’s Secret Debt Solution ... ~ snip ... The three currencies will essentially be a new dollar, new euro, and a new pan-Asian currency. (The Chinese yuan may survive as a fourth currency, but it will be linked to a basket of the three new currencies.) .. The G-20’s Secret Debt Solution ...
U.N. TO EMERGE AS GLOBAL IRS - UN DECLARATION MARCH. 23-24TH
*** The Financial New World Order: Towards a Global Currency and World Government ...
Interesting Article from fofoa ~ Call-Me-Contrarian ...
UN to Produce Bullion coins as World Currency
Global Reserve Currency is Here - WOCU
September 21, 2012 .. Prediction By James Dale Davidson ...
Bumped ..
Note: From poppa bush (and thank you) - The following video is quite long. The trick to Read the Transript is to log on and then exit and when you get the notice .. "are you sure you want to leave the page" .. go to cancel and viola the entire transcript is there for you to read at your leisure ...
Prediction ... James Dale Davidson .. Strategic Investment ..
Listen .. HERE
Note: From poppa bush (and thank you) - The following video is quite long. The trick to Read the Transript is to log on and then exit and when you get the notice .. "are you sure you want to leave the page" .. go to cancel and viola the entire transcript is there for you to read at your leisure ...
Prediction ... James Dale Davidson .. Strategic Investment ..
Listen .. HERE
Iraqi investment conference due in Berlin Sept. 24-25-2012 ...
Related article .. link .. *Iraq and Germany ~ Berlin is seeking to relations «excellent» with Baghdad
August 30, 2012
Iraqi investment conference due in Berlin
Iraq Investment and Business Forum will be held in Berlin Sept.24-25, said spokesperson for Kurdistan Chambers of Commerce and Industry.
All the Iraqi governors and chiefs for investment boards of the Iraqi provinces as well as German investors will attend the conference, organized by the Iraqi-German Trade Chamber, said Azad Ahmed.
The forum will definitely help in reconsidering the Iraqi investment sector so that the weak points are indicated and improved and the Iraq benefits from the German expertise and experience, said Najat Bapir, Erbil investment chief.
source
August 30, 2012
Iraqi investment conference due in Berlin
Iraq Investment and Business Forum will be held in Berlin Sept.24-25, said spokesperson for Kurdistan Chambers of Commerce and Industry.
All the Iraqi governors and chiefs for investment boards of the Iraqi provinces as well as German investors will attend the conference, organized by the Iraqi-German Trade Chamber, said Azad Ahmed.
The forum will definitely help in reconsidering the Iraqi investment sector so that the weak points are indicated and improved and the Iraq benefits from the German expertise and experience, said Najat Bapir, Erbil investment chief.
source
What Bernanke Could Say Tomorrow That Would Blow The World's Socks Off
August 30, 2012
What Bernanke Could Say Tomorrow That Would Blow The World's Socks Off
The biggest speech of the week is coming up: Bernanke's 10:00 AM ET Friday speech at the Jackson Hole Economic Symposium sponsored by the Kansas City Federal Reserve.
It was at this venue in 2010, when he introduced the world to QE2, a scheme whereby the Fed would purchase long dated bonds with the idea of pushing money out of the Treasury market and into more risky assets, and hopefully the real economy itself.
Tomorrow, with the economy growing (but underwhelmingly so), and Europe and China both flagging, there's a lot of hope and hype about what he might say, and do.
There are very few clues. One is that the title is going to be: Monetary Policy Since the Crisis.
From that title alone, Goldman's Jan Hatzius came up with 6 possible lessons that Bernanke might reveal:
What Bernanke Could Say Tomorrow That Would Blow The World's Socks Off
The biggest speech of the week is coming up: Bernanke's 10:00 AM ET Friday speech at the Jackson Hole Economic Symposium sponsored by the Kansas City Federal Reserve.
It was at this venue in 2010, when he introduced the world to QE2, a scheme whereby the Fed would purchase long dated bonds with the idea of pushing money out of the Treasury market and into more risky assets, and hopefully the real economy itself.
Tomorrow, with the economy growing (but underwhelmingly so), and Europe and China both flagging, there's a lot of hope and hype about what he might say, and do.
There are very few clues. One is that the title is going to be: Monetary Policy Since the Crisis.
From that title alone, Goldman's Jan Hatzius came up with 6 possible lessons that Bernanke might reveal:
APEC Economies Reaffirm Commitment to Strong, Sustainable, Balanced Global Growth ...
8/30/2012APEC Economies Reaffirm Commitment to Strong, Sustainable, Balanced Global Growth
Finance ministers of the Asia-Pacific Economic Cooperation (APEC) forum meeting in Moscow, Russia, today issued a communiqué expressing our joint commitment to strong, sustainable and balanced global growth.
The communiqué also welcomes the commitment that European leaders have made to taking all measures necessary to ensure the stability of the Euro area.
In response to the headwinds that all of our economies are feeling from Europe, APEC members pledged to do all they could to boost growth. They emphasized structural reforms that will increase domestic demand and reinforce the reduction in imbalances that we see occurring in the region. They recommitted to bolstering financial sector stability and to policies that support the global recovery. The economies also pledged to remain vigilant on the price of oil and other key commodities and welcomed appropriate action by the International Energy Agency to ensure that the market is fully supplied in a timely manner.
For the United States, a key goal of the meeting was to further expand export opportunities for American workers and businesses. Exports are currently contributing more to our domestic recovery than during past periods of recovery, and we are making historic progress on the path to achieving President Obama's goal of doubling U.S. exports by the end of 2014. The Asia-Pacific region is a key market for American businesses, accounting for 60 percent of our exports. Since the beginning of the President's term, exports to the region have increased by 83 percent.
The United States was represented here in Moscow by Under Secretary of the Treasury for International Affairs Lael Brainard. source
Going Global Headline News For Thursday, August 30, 2012 ...
Iraq articles in blue ...
*Currency trader facing prison time in Ponzi scheme
*GENERAL GEORGE WASHINGTON'S ANGELIC VISITATION AT VALLEY FORGE
*Important Dates For Finance.. August 17th through October 2012 ...
*What Bernanke Could Say Tomorrow That Would Blow The World's Socks Off
*Zebari .. Sunday, Sept. 2nd, Meeting ..A parliamentary committee defer the discussion of the lack of response Zebari calls to come to parliament
*Iraq's Currency and Shabibi: A parliamentary fact-finding committee decided to host the officials at the Central Bank .. and .. *Parliament to host central bank governor during the next few days in the House of Representatives to discuss the currency sales and deletion of zeros
*Iraq Finance Committee discusses Central Bank action: stop the process of Money Laundering; Tariff Law; Retirement Law; Islamic banking
*CBI and Credit: system credit card combines points existing banks in the country to enable customers to access their account in anywhere and anytime
*Biden Visit .. Deputy for National Alliance .. Biden's visit welcomed and its pressure on Iraq to support the army Masmy free
*Syrian delegation withdraw from the Non-Aligned Summit Hall when throwing Mursi speech
*EU Confirms November Summit on Trillion-Euro Bloc Budget
*US Warns Iran After IAEA Nuclear Report ...
*Ahmadinejad agrees to lose Ban Ki-moon's nuclear facilities
*ECB is expected to give more details on its mechanism for intervention by September 6th; France, Spain urge action to curb market rates ...
*Clinton to hoist US flag in Asia, to China's unease
*Ban Ki-moon calling on Iran in his speech to the summit of non-aligned countries to implement UN resolutions in full
*Are Saudi, Qatari, and IMF moves in Egypt tied to the NAM Summit in Tehran? (excerpt)
*Kurdistan region's economy is stable and will not be affected by the closure of border crossings Iranian temporarily as a result of the Summit..
*World's Richest Woman Tells Jealous People To Drink Less And Work More
*Currency trader facing prison time in Ponzi scheme
*GENERAL GEORGE WASHINGTON'S ANGELIC VISITATION AT VALLEY FORGE
*Important Dates For Finance.. August 17th through October 2012 ...
*What Bernanke Could Say Tomorrow That Would Blow The World's Socks Off
*Zebari .. Sunday, Sept. 2nd, Meeting ..A parliamentary committee defer the discussion of the lack of response Zebari calls to come to parliament
*Iraq's Currency and Shabibi: A parliamentary fact-finding committee decided to host the officials at the Central Bank .. and .. *Parliament to host central bank governor during the next few days in the House of Representatives to discuss the currency sales and deletion of zeros
*Iraq Finance Committee discusses Central Bank action: stop the process of Money Laundering; Tariff Law; Retirement Law; Islamic banking
*CBI and Credit: system credit card combines points existing banks in the country to enable customers to access their account in anywhere and anytime
*Biden Visit .. Deputy for National Alliance .. Biden's visit welcomed and its pressure on Iraq to support the army Masmy free
*Syrian delegation withdraw from the Non-Aligned Summit Hall when throwing Mursi speech
*EU Confirms November Summit on Trillion-Euro Bloc Budget
*US Warns Iran After IAEA Nuclear Report ...
*Ahmadinejad agrees to lose Ban Ki-moon's nuclear facilities
*ECB is expected to give more details on its mechanism for intervention by September 6th; France, Spain urge action to curb market rates ...
*Clinton to hoist US flag in Asia, to China's unease
*Ban Ki-moon calling on Iran in his speech to the summit of non-aligned countries to implement UN resolutions in full
*Are Saudi, Qatari, and IMF moves in Egypt tied to the NAM Summit in Tehran? (excerpt)
*Kurdistan region's economy is stable and will not be affected by the closure of border crossings Iranian temporarily as a result of the Summit..
*World's Richest Woman Tells Jealous People To Drink Less And Work More
Currency trader facing prison time in Ponzi scheme
Related article .. link *Foreign Currency Fraud ~ Court Ordered ~ to Pay More than $4.5 Million for Operating Foreign Currency Ponzi Scheme ...
Thursday, August 30, 2012
Currency trader facing prison time in Ponzi scheme
SIOUX FALLS, S.D. A foreign currency trader who faces a multimillion-dollar civil judgment in South Dakota for allegedly defrauding hundreds of investors in a Ponzi scheme is looking at prison time after reaching a plea deal in a criminal case.
But South Dakota attorney Wanda Howey-Fox says it's unlikely that Jeffery Lowrance has any remaining assets to reimburse those he defrauded.
Lowrance was arrested in Peru last year and extradited to Illinois. He pleaded guilty last month to one count of wire fraud and one count of money laundering. The deal recommends 12 1/2 to 15 1/2 years in prison, but a judge has final say.
In 2009, a federal judge in South Dakota issued a default judgment of more than $40 million against Lowrance and punitive damages of three times that amount
Read more here
Thursday, August 30, 2012
Currency trader facing prison time in Ponzi scheme
SIOUX FALLS, S.D. A foreign currency trader who faces a multimillion-dollar civil judgment in South Dakota for allegedly defrauding hundreds of investors in a Ponzi scheme is looking at prison time after reaching a plea deal in a criminal case.
But South Dakota attorney Wanda Howey-Fox says it's unlikely that Jeffery Lowrance has any remaining assets to reimburse those he defrauded.
Lowrance was arrested in Peru last year and extradited to Illinois. He pleaded guilty last month to one count of wire fraud and one count of money laundering. The deal recommends 12 1/2 to 15 1/2 years in prison, but a judge has final say.
In 2009, a federal judge in South Dakota issued a default judgment of more than $40 million against Lowrance and punitive damages of three times that amount
Read more here
Food prices jump will hit poor, World Bank warns; Global food prices have leapt by 10% in the month of July ...
August 31, 2012
Global food prices have leapt by 10% in the month of July, raising fears of soaring prices for the planet’s poorest, the World Bank has warned.
The bank said that a U.S. heatwave and drought in parts of Eastern Europe were partly to blame for the rising costs. The price of key grains such as corn, wheat and soybean saw the most dramatic increases, described by the World Bank president as “historic.”
The bank warned countries importing grains will be particularly vulnerable. From June to July this year, corn and wheat prices each rose by 25% while soybean prices increased by 17%, the World Bank said. Only rice prices decreased – by 4%. In the United States, the most severe, widespread drought in half a century has wreaked havoc on the corn and soybean crops while in Russia, Ukraine and Kazakhstan, wheat crops have been badly damaged.
The World Bank said that the use of corn to produce ethanol bio-fuel – which represents 40% of US corn production – was also a key factor in the sharp rise in the U.S. maize price. Overall, the World Bank’s Food Price Index – which tracks the price of internationally traded food commodities – was six percent higher than in July of last year, and one percent over its previous peak, in February 2011.
The organization is urging governments to bolster programs to protect their most vulnerable communities from the increase in the cost of food. “We cannot allow these historic price hikes to turn into a lifetime of perils as families take their children out of school and eat less nutritious food to compensate for the high prices,” World Bank President Jim Yong Kim said.
He said countries in North and Sub-Saharan Africa and the Middle East were among those most exposed to such price increases because much of their food was imported and food bills make up a large proportion of average household spending.
source
Global food prices have leapt by 10% in the month of July, raising fears of soaring prices for the planet’s poorest, the World Bank has warned.
The bank said that a U.S. heatwave and drought in parts of Eastern Europe were partly to blame for the rising costs. The price of key grains such as corn, wheat and soybean saw the most dramatic increases, described by the World Bank president as “historic.”
The bank warned countries importing grains will be particularly vulnerable. From June to July this year, corn and wheat prices each rose by 25% while soybean prices increased by 17%, the World Bank said. Only rice prices decreased – by 4%. In the United States, the most severe, widespread drought in half a century has wreaked havoc on the corn and soybean crops while in Russia, Ukraine and Kazakhstan, wheat crops have been badly damaged.
The World Bank said that the use of corn to produce ethanol bio-fuel – which represents 40% of US corn production – was also a key factor in the sharp rise in the U.S. maize price. Overall, the World Bank’s Food Price Index – which tracks the price of internationally traded food commodities – was six percent higher than in July of last year, and one percent over its previous peak, in February 2011.
The organization is urging governments to bolster programs to protect their most vulnerable communities from the increase in the cost of food. “We cannot allow these historic price hikes to turn into a lifetime of perils as families take their children out of school and eat less nutritious food to compensate for the high prices,” World Bank President Jim Yong Kim said.
He said countries in North and Sub-Saharan Africa and the Middle East were among those most exposed to such price increases because much of their food was imported and food bills make up a large proportion of average household spending.
source
US Warns Iran After IAEA Nuclear Report ...
August 30, 2012
US warns Iran after IAEA nuclear report
The United States warned Iran on Thursday its window for opening serious talks is limited, after the UN nuclear watchdog said Iran had doubled enrichment capacity at its underground facility at Fordo.
White House spokesman Jay Carney also reiterated that President Barack Obama is determined to prevent Iran getting a nuclear bomb but added that US officials would know whether it reached breakout capacity to reach that stage.
"The window of opportunity to resolve this remains open ... but it will not remain open indefinitely," Carney said.
The International Atomic Energy Agency said in its latest quarterly report, seen by AFP but not published, that Iran now has now installed at Fordo around 2,000 uranium-enrichment centrifuges, compared with around 1,000 in May.
It also said its ability to inspect the Parchin military base where it suspects nuclear weapons research took place in the past had been "significantly hampered" by a suspected clean-up.
The report was published at a point when talks between world powers and Iran on its nuclear program are effectively stalled and with rising speculation that Israel may launch a unilateral military strike on Iranian facilities.
source
US warns Iran after IAEA nuclear report
The United States warned Iran on Thursday its window for opening serious talks is limited, after the UN nuclear watchdog said Iran had doubled enrichment capacity at its underground facility at Fordo.
White House spokesman Jay Carney also reiterated that President Barack Obama is determined to prevent Iran getting a nuclear bomb but added that US officials would know whether it reached breakout capacity to reach that stage.
"The window of opportunity to resolve this remains open ... but it will not remain open indefinitely," Carney said.
The International Atomic Energy Agency said in its latest quarterly report, seen by AFP but not published, that Iran now has now installed at Fordo around 2,000 uranium-enrichment centrifuges, compared with around 1,000 in May.
It also said its ability to inspect the Parchin military base where it suspects nuclear weapons research took place in the past had been "significantly hampered" by a suspected clean-up.
The report was published at a point when talks between world powers and Iran on its nuclear program are effectively stalled and with rising speculation that Israel may launch a unilateral military strike on Iranian facilities.
source
China's Gold Backed Currency .. China Launching Gold Backed Worldwide Currency ...
Thursday - Aug 30, 2012China Launching Gold Backed Worldwide Currency - Now the Americans will have to find a reason to go to war against China !!
According to an article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new gold-backed currency. Many say this will disrupt global trade and will eventually cause a collapse of the US dollar.
There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new gold backed global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the bums rushby the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.
China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initially used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based US Dollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.
The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic US Treasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.
source
Iraq Oil Talks Baghdad and Kurdistan ready for talks
August 30, 2012
Kurdistan ready for talks with Baghdad: deputy PM
Delayed oil law at heart of negotiations
Iraq’s Kurdistan is ready to restart negotiations with Baghdad to end their crisis, focusing on a long-delayed oil law to hand regions more say in managing energy resources, Iraq’s Deputy Prime Minister Rosh Nuri al-Shawish, a Kurd, said.
The positive tone from Shawish signalled the Shi’ite-led central government and self-governed Kurdistan may be edging towards resolving their dispute over oil, territory and power-sharing that is straining Iraq’s uneasy federal union.
Shawish told Reuters Kurdistan believes part of the dispute can be ended by passing an amended 2007 draft of an oil and gas law, which all parties had agreed to as part of broader power-sharing among Shi’ite, Sunni and Kurdish blocks.
Resolve
“Approving this draft and adding some amendments which are agreed on by all parties ... is the proper way to resolve this,” the deputy prime minister, one of the go-betweens for talks between Baghdad and Kurdistan, said in an interview.
Shawish said Kurdish officials had met with the head of the Prime Minister Nuri al-Maliki’s Shi’ite National Alliance, Ibrahim al-Jaafari, for preliminary talks, and the atmosphere had improved enough for them to see room for progress.
Kurdistan has tested Baghdad’s resolve for months by signing deals with foreign oil majors, such as Exxon and Chevron , contracts the central government rejects as illegal and part of a Kurdish push for more autonomy.
Their dispute is complicating a crisis in Iraq’s fragile power-sharing central government, which was hobbled by infighting among Sunni, Shi’ite and Kurdish parties even before the last U.S. troops left in December.
Kurdish leaders and the Sunni-backed Iraqiya party often accuse Maliki of sidelining them and say the Shi’ite leader is amassing power at their expense. His backers say the premier’s partners in power-sharing are trying to unseat him.
Baghdad and the Kurdish capital Arbil are currently fighting over exports. Kurdistan has threatened to stop its share of national oil exports at the start of September, claiming Baghdad is not fulfilling payments to companies working there.
Iraq says Kurdish authorities have not supplied the correct paperwork and receipts for an audit of payments.
Adoption of a new oil and gas law has long been considered critical to the success of Iraq’s rapidly developing oil sector, although Baghdad has signed multibillion-dollar contracts with global oil majors despite antiquated legal safeguards.
Last year, Maliki and Kurdistan agreed by December 2011 they would either amend the 2007 hydrocarbons law as agreed by all political factions or adopt the 2007 law as is. But that deadline past without agreement. The 2007 draft gives regional powers partial authority over their reserves, and Maliki advisors have said in the past they would prefer that version because time was running short.
Autonomous since 1991, Iraq’s Kurdistan runs its own government and armed forces, but relies on the central government for a percentage of the country’s oil revenues from the national budget.
Shawish said Kurdish officials believe signing exploration contracts with oil majors without Baghdad’s permission is a constitutional right. Disputes flared because Baghdad relied on old oil laws from Saddam Hussein’s era centralizing control, he said.
“The controversy comes from this point, relying on old laws while looking for a new law in line with the constitution,” the Kurdish politician said.
Iraq’s Kurdistan regional government threatened on Tuesday to stop its share of national oil exports again at the start of September, claiming Baghdad has continued to hold off on payments to oil companies, as the two sides continue a long-running dispute.
“We are moving ahead to stop oil exports at the start of September, because until this moment we didn’t receive any sign Baghdad will approve payments for oil companies working in the region,” a senior Kurdistan government official said on Tuesday.
Iraq’s uneasy federal union is being tested as the central government has a long-standing disagreement with autonomous Kurdistan in the north over control of oil and territory along their internal border.
Baghdad maintains it alone has the right to export Iraqi crude. But Kurdistan has moved ahead with signing exploration deals with oil majors such as Exxon and Chevron, which the central government rejects as illegal.
In April Kurdistan halted exports, saying Baghdad had not made payments to companies working there, but it restarted shipments on Aug. 7 with a warning they could be halted again in a month if there were no payments. Iraq says Kurdistan’s oil shipments have fluctuated around 100,000 to 120,000 barrels per day since they restarted, below the 175,000 bpd that Baghdad says was agreed with Kurdistan.
A senior Iraqi government adviser said Kurdish authorities still needed to present receipts showing company expenses and that more auditing was needed before any payments are approved.
Iraq approved a payment of close to $560 million to oil producers operating in the north in return for their investment costs to develop oilfields in the Kurdish region. But officials are still waiting for the go-ahead.
“We’ve allocated 650 billion Iraqi dinars ($559.4 million) in the 2012 budget to pay the companies, which we will release after we receive the order from the government. Until now no order was received,” Iraq’s Deputy Finance Minister Fadhil Nabi said.
Crude produced in Kurdistan is fed into Iraq’s Kirkuk export stream and sold onto world markets via the Turkish Mediterranean port of Ceyhan. The earlier KRG export halt cut Kirkuk shipments by a quarter to below 300,000 bpd.
In an interim agreement in January 2011, Baghdad approved payments to companies in Kurdistan for exploration and extraction costs.
That agreement called for Kurdish authorities to supply 175,000 barrels per day of oil exports and Baghdad to route 50 percent of the KRG’s export earnings to Kurdistan to cover producing companies’ costs.
Kurdistan says only two payments totalling $514 million have been received, with the last payment made in May 2011.
Kurdistan’s resumption of exports was seen as a goodwill gesture to ease tension after Baghdad threatened to cancel a contract with France’s
Total for signing deals with the autonomous region.
Total and a unit of Russia’s Gazprom followed U.S. majors Exxon and Chevron into signing deals with Kurdistan, which is already at odds with Baghdad in a long-running dispute over territory and oil rights.
“We were hoping to convince Baghdad that exports from Kurdistan could boost Iraq’s oil revenues but it seems we failed,” the Kurdish official said. “Companies here are starting to get nervous.”
source
Kurdistan ready for talks with Baghdad: deputy PM
Delayed oil law at heart of negotiations
Iraq’s Kurdistan is ready to restart negotiations with Baghdad to end their crisis, focusing on a long-delayed oil law to hand regions more say in managing energy resources, Iraq’s Deputy Prime Minister Rosh Nuri al-Shawish, a Kurd, said.
The positive tone from Shawish signalled the Shi’ite-led central government and self-governed Kurdistan may be edging towards resolving their dispute over oil, territory and power-sharing that is straining Iraq’s uneasy federal union.
Shawish told Reuters Kurdistan believes part of the dispute can be ended by passing an amended 2007 draft of an oil and gas law, which all parties had agreed to as part of broader power-sharing among Shi’ite, Sunni and Kurdish blocks.
Resolve
“Approving this draft and adding some amendments which are agreed on by all parties ... is the proper way to resolve this,” the deputy prime minister, one of the go-betweens for talks between Baghdad and Kurdistan, said in an interview.
Shawish said Kurdish officials had met with the head of the Prime Minister Nuri al-Maliki’s Shi’ite National Alliance, Ibrahim al-Jaafari, for preliminary talks, and the atmosphere had improved enough for them to see room for progress.
Kurdistan has tested Baghdad’s resolve for months by signing deals with foreign oil majors, such as Exxon and Chevron , contracts the central government rejects as illegal and part of a Kurdish push for more autonomy.
Their dispute is complicating a crisis in Iraq’s fragile power-sharing central government, which was hobbled by infighting among Sunni, Shi’ite and Kurdish parties even before the last U.S. troops left in December.
Kurdish leaders and the Sunni-backed Iraqiya party often accuse Maliki of sidelining them and say the Shi’ite leader is amassing power at their expense. His backers say the premier’s partners in power-sharing are trying to unseat him.
Baghdad and the Kurdish capital Arbil are currently fighting over exports. Kurdistan has threatened to stop its share of national oil exports at the start of September, claiming Baghdad is not fulfilling payments to companies working there.
Iraq says Kurdish authorities have not supplied the correct paperwork and receipts for an audit of payments.
Adoption of a new oil and gas law has long been considered critical to the success of Iraq’s rapidly developing oil sector, although Baghdad has signed multibillion-dollar contracts with global oil majors despite antiquated legal safeguards.
Last year, Maliki and Kurdistan agreed by December 2011 they would either amend the 2007 hydrocarbons law as agreed by all political factions or adopt the 2007 law as is. But that deadline past without agreement. The 2007 draft gives regional powers partial authority over their reserves, and Maliki advisors have said in the past they would prefer that version because time was running short.
Autonomous since 1991, Iraq’s Kurdistan runs its own government and armed forces, but relies on the central government for a percentage of the country’s oil revenues from the national budget.
Shawish said Kurdish officials believe signing exploration contracts with oil majors without Baghdad’s permission is a constitutional right. Disputes flared because Baghdad relied on old oil laws from Saddam Hussein’s era centralizing control, he said.
“The controversy comes from this point, relying on old laws while looking for a new law in line with the constitution,” the Kurdish politician said.
Iraq’s Kurdistan regional government threatened on Tuesday to stop its share of national oil exports again at the start of September, claiming Baghdad has continued to hold off on payments to oil companies, as the two sides continue a long-running dispute.
“We are moving ahead to stop oil exports at the start of September, because until this moment we didn’t receive any sign Baghdad will approve payments for oil companies working in the region,” a senior Kurdistan government official said on Tuesday.
Iraq’s uneasy federal union is being tested as the central government has a long-standing disagreement with autonomous Kurdistan in the north over control of oil and territory along their internal border.
Baghdad maintains it alone has the right to export Iraqi crude. But Kurdistan has moved ahead with signing exploration deals with oil majors such as Exxon and Chevron, which the central government rejects as illegal.
In April Kurdistan halted exports, saying Baghdad had not made payments to companies working there, but it restarted shipments on Aug. 7 with a warning they could be halted again in a month if there were no payments. Iraq says Kurdistan’s oil shipments have fluctuated around 100,000 to 120,000 barrels per day since they restarted, below the 175,000 bpd that Baghdad says was agreed with Kurdistan.
A senior Iraqi government adviser said Kurdish authorities still needed to present receipts showing company expenses and that more auditing was needed before any payments are approved.
Iraq approved a payment of close to $560 million to oil producers operating in the north in return for their investment costs to develop oilfields in the Kurdish region. But officials are still waiting for the go-ahead.
“We’ve allocated 650 billion Iraqi dinars ($559.4 million) in the 2012 budget to pay the companies, which we will release after we receive the order from the government. Until now no order was received,” Iraq’s Deputy Finance Minister Fadhil Nabi said.
Crude produced in Kurdistan is fed into Iraq’s Kirkuk export stream and sold onto world markets via the Turkish Mediterranean port of Ceyhan. The earlier KRG export halt cut Kirkuk shipments by a quarter to below 300,000 bpd.
In an interim agreement in January 2011, Baghdad approved payments to companies in Kurdistan for exploration and extraction costs.
That agreement called for Kurdish authorities to supply 175,000 barrels per day of oil exports and Baghdad to route 50 percent of the KRG’s export earnings to Kurdistan to cover producing companies’ costs.
Kurdistan says only two payments totalling $514 million have been received, with the last payment made in May 2011.
Kurdistan’s resumption of exports was seen as a goodwill gesture to ease tension after Baghdad threatened to cancel a contract with France’s
Total for signing deals with the autonomous region.
Total and a unit of Russia’s Gazprom followed U.S. majors Exxon and Chevron into signing deals with Kurdistan, which is already at odds with Baghdad in a long-running dispute over territory and oil rights.
“We were hoping to convince Baghdad that exports from Kurdistan could boost Iraq’s oil revenues but it seems we failed,” the Kurdish official said. “Companies here are starting to get nervous.”
source
Iran has doubled uranium enrichment machines – report
August 30, 2012
Iran has doubled uranium enrichment machines – report
IAEA quarterly report shows Tehran is increasing stockpile of potent nuclear material at underground Fordow bunker
Iran has doubled the number of uranium enrichment machines it has in an underground bunker, a UN report said on Thursday, showing Tehran continued to defy western pressure to stop its atomic work.
In the weeks and months when Israeli politicians increased their talk of air strikes on Iran's nuclear sites, the Islamic republic was rapidly increasing the enrichment capacity of its Fordow site, buried deep underground to withstand any such hit.
The UN International Atomic Energy Agency (IAEA) said in its quarterly report on Iran that the number of centrifuges at Fordow, near the holy Shia city of Qom, about 80 miles (130km) from Tehran, had more than doubled to 2,140 from 1,064 in May.
The new machines were not yet operational, it said.
Iran's supreme leader repeated this week that Iran's nuclear programme was entirely peaceful.
But the expansion in enrichment infrastructure and the increase in stockpiles of potent nuclear material revealed in the report will do nothing to allay fears or reduce the diplomatic and sanctions pressure on Iran.
The report showed that Iran had produced nearly 190kg of higher-grade enriched uranium since 2010, up from 145kg in May.
Iran says it needs this material – which is much purer than fuel needed for electricity generation – for a medical research reactor, but it also takes it significantly closer to making potential bomb material.
The IAEA also expressed concerns about Parchin, a military site south of the capital that it wants to inspect for evidence of past nuclear weapons development.
"Significant ground scraping and landscaping have been undertaken over an extensive area at and around the location," it said.
Five buildings had been demolished and power lines, fences and paved roads removed, the report said, "extensive activities" that would hamper its investigation if granted access.
"The activities observed … further strengthen the agency's assessment that it is necessary to have access to the location at Parchin without further delay," the IAEA said.
Iran says Parchin is a conventional military facility and has dismissed the allegations about it as "ridiculous".
Foreign minister Ali Akbar Salehi, meeting UN secretary general Ban Ki-moon in Tehran on Thursday, was quoted by Iranian state TV as saying: "The west has put sanctions on Iran for years, however the Iranian nation continues to resist and make progress."
source
Iran has doubled uranium enrichment machines – report
IAEA quarterly report shows Tehran is increasing stockpile of potent nuclear material at underground Fordow bunker
Iran has doubled the number of uranium enrichment machines it has in an underground bunker, a UN report said on Thursday, showing Tehran continued to defy western pressure to stop its atomic work.
In the weeks and months when Israeli politicians increased their talk of air strikes on Iran's nuclear sites, the Islamic republic was rapidly increasing the enrichment capacity of its Fordow site, buried deep underground to withstand any such hit.
The UN International Atomic Energy Agency (IAEA) said in its quarterly report on Iran that the number of centrifuges at Fordow, near the holy Shia city of Qom, about 80 miles (130km) from Tehran, had more than doubled to 2,140 from 1,064 in May.
The new machines were not yet operational, it said.
Iran's supreme leader repeated this week that Iran's nuclear programme was entirely peaceful.
But the expansion in enrichment infrastructure and the increase in stockpiles of potent nuclear material revealed in the report will do nothing to allay fears or reduce the diplomatic and sanctions pressure on Iran.
The report showed that Iran had produced nearly 190kg of higher-grade enriched uranium since 2010, up from 145kg in May.
Iran says it needs this material – which is much purer than fuel needed for electricity generation – for a medical research reactor, but it also takes it significantly closer to making potential bomb material.
The IAEA also expressed concerns about Parchin, a military site south of the capital that it wants to inspect for evidence of past nuclear weapons development.
"Significant ground scraping and landscaping have been undertaken over an extensive area at and around the location," it said.
Five buildings had been demolished and power lines, fences and paved roads removed, the report said, "extensive activities" that would hamper its investigation if granted access.
"The activities observed … further strengthen the agency's assessment that it is necessary to have access to the location at Parchin without further delay," the IAEA said.
Iran says Parchin is a conventional military facility and has dismissed the allegations about it as "ridiculous".
Foreign minister Ali Akbar Salehi, meeting UN secretary general Ban Ki-moon in Tehran on Thursday, was quoted by Iranian state TV as saying: "The west has put sanctions on Iran for years, however the Iranian nation continues to resist and make progress."
source
Clinton to hoist US flag in Asia, to China's unease
August 30, 2012
Clinton to hoist US flag in Asia, to China's unease
US Secretary of State Hillary Clinton sets off Thursday on a sweeping Asia tour from a rising China to tiny island states as her outspoken role on the region's hotspots raises hackles in Beijing.
In the midst of a US presidential campaign, the former candidate is expected to steer clear of politics at home and portray Washington as an anchor of stability in a region where China has increasingly butted heads with neighbors.
Clinton will head first to the Cook Islands, an archipelago of just 11,000 people, to become the first US secretary of state to take part in an annual summit of South Pacific islands -- where China's clout is growing.
Clinton will go Tuesday to China, where aides said she will meet President Hu Jintao and other top officials and take up the full gamut of issues between the world's two largest economies, including heated maritime disputes.
Clinton to hoist US flag in Asia, to China's unease
US Secretary of State Hillary Clinton sets off Thursday on a sweeping Asia tour from a rising China to tiny island states as her outspoken role on the region's hotspots raises hackles in Beijing.
In the midst of a US presidential campaign, the former candidate is expected to steer clear of politics at home and portray Washington as an anchor of stability in a region where China has increasingly butted heads with neighbors.
Clinton will head first to the Cook Islands, an archipelago of just 11,000 people, to become the first US secretary of state to take part in an annual summit of South Pacific islands -- where China's clout is growing.
Clinton will go Tuesday to China, where aides said she will meet President Hu Jintao and other top officials and take up the full gamut of issues between the world's two largest economies, including heated maritime disputes.
Iraq's Currency and Shabibi: A parliamentary fact-finding committee decided to host the officials at the Central Bank
30/08/2012Iraq's Currency: A parliamentary fact-finding committee decided to host the officials at the Central Bank
Baghdad, decided to fact-finding committee formed by the Council under the chairmanship of First Deputy Speaker of Parliament Qusay al-Suhail and the membership committee chairmen of Finance and Economy and Chairman of Supreme Audit and the first meeting hosted officials at the Central Bank, including governor Sinan al-Shabibi. said member Finance Committee in Parliament Secretary Hadi's (Center Brief for the Iraqi Media Network) that
Parliament to host central bank governor during the next few days in the House of Representatives to discuss the currency sales and deletion of zeros
26/08/2012Parliament: the project to delete the zeros will not benefit the national economy
BAGHDAD - morning
likely Vice President Finance Committee MP / coalition of Kurdish blocs / Ahmed Hassan Faizullah, host central bank governor during the next few days in the House of Representatives to discuss the sale of the currency and the project to delete the three zeroes, noting that the project to delete the zeros of the currency does not adds nothing to the national economy but will cost him large sums for operations currency printing and others.
Iraq Finance Committee discusses Central Bank action: stop the process of Money Laundering; Tariff Law; Retirement Law; Islamic banking
Thursday, 2012-08-30Finance Committee discusses Central Bank action to stop the process of money laundering
Baghdad, Finance Committee discussed in its meeting chaired by MP Haider Abbadi Chairman and member attendance and advisers ..
Topics on the agenda, which included Central Bank procedures regarding the auction currency and reduce the difference between the buying and selling dinar and stop wastage of money laundering.
Added a statement to the House of representatives received (alahbaret Agency news) on Thursday that the Committee had discussed at its first amendment Bill of the law of customs tariff where the members of the Committee agreed to address the Secretariat General of the Council of Ministers to highlight the Committee's proposal that its inclusion in the provisional application of the law, and the draft law of the Islamic Bank of rivers where the Committee recommended at the second reading, the Bill and a border Commission agreed at first reading and social security bill, the Committee decided to address the Presidency and relevant commissions of the Government position statement ..
The Bill, which is awaiting final amendment law of retirement consolidated draft will be presented by book a retirement in September next.
Said: that the meeting discussed the budget proposed for the judiciary to 2013 the Commission members agreed after studying all the paragraphs of the budget to set up a Subcommittee to discuss the report prepared by the Committee with representatives of the judiciary.
source
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