OIL 101: ENERGY ECONOMICS
OIL 102: PEAK CHEAP OIL
OIL 103: SHALE OIL
OIL 104: ENERGY & THE ECONOMY
CENTRAL BANKING 101: COMING SOON
CENTRAL BANKING 102: COMING SOON
CENTRAL BANKING 103: COMING SOON
CENTRAL BANKING 104: COMING SOON
MONEY 101: MONEY CREATION
MONEY 102: MONEY AS DEBT
MONEY 103: COMING SOON
MONEY 104: COMING SOON

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  • harry's Avatar
    Today, 09:01 AM
    good morning to all ds i pray that everyone will have a blessed day today.
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  • Bondlady2's Avatar
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  • harry's Avatar
    Yesterday, 08:57 AM
    good morning to all ds i pray that everyone will have a blessed day.
    552 replies | 23972 view(s)
  • harry's Avatar
    01-15-2020, 09:04 AM
    good morning to all ds i pray that everyone will have a blessed day today.
    552 replies | 23972 view(s)
  • harry's Avatar
    01-13-2020, 09:15 AM
    good morning to all ds i pray that everyone will have a blessed day today. An oral message puts Iraq at stake and officials warn of an imminent collapse of the state 1/13/2020 Gilgamesh Press / Iraqi officials expressed their fear of an economic meltdown, if Washington imposed sanctions that it had previously waved, including freezing bank accounts in the United States, in which Baghdad holds oil revenues that make up 90% of the state’s budget. US President Donald Trump was angry after the Iraqi parliament voted on January 5 to remove foreign forces from the country, including about 5,200 American soldiers who have helped local forces defeat ISIS since 2014. "If we ask the soldiers to leave," he said, "we will impose sanctions on them that they have not seen before." Two Iraqi officials say that the United States then delivered an extraordinary indirect verbal message to the office of resigned Prime Minister Adel Abdul-Mahdi. One of those officials said, "The Prime Minister's Office has received a threatening call that if American forces are expelled, the United States will close your account at the Federal Reserve Bank in New York." Parliament voted to end the presence of foreign forces in Iraq, due to discontent over a US airstrike by a drone in Baghdad two days before the session that led to the killing of the influential Iranian general Qassem Soleimani and deputy head of the PMF Abu Mahdi al-Muhandis. The Central Bank of Iraq account was established in the Federal Reserve in 2003, in the wake of the US invasion that toppled Saddam Hussein's regime. Under Resolution 1483 of the United Nations Security Council, which lifted tougher international sanctions and the oil embargo imposed on Iraq after Saddam Hussein's invasion of Kuwait, all proceeds from Iraqi oil sales go to that account. Iraq is the second largest producer of crude oil in the Organization of Petroleum Exporting Countries (OPEC), and depends on more than 90% of the state’s $ 112 billion budget in 2019, on oil revenues. To this day, revenue is paid in dollars into the Federal Reserve account daily, and the balance now stands at approximately $ 35 billion, according to Iraqi officials. And Iraq pays almost every month, between one billion and two billion dollars in cash from this account, for official and commercial transactions. "We are an oil producing country, and these accounts are in dollars. Freezing them and preventing access to them means that the faucet is completely closed," says the first Iraqi official. The second indicates that this will mean that the government will not be able to do daily business or pay salaries, and that the value of the Iraqi currency will fall. He adds that “this will mean the collapse of Iraq.” Trump politicizes everything A senior Iraqi official affirms that the United States is considering "restricting" access to cash to "about a third of what they usually send." The Federal Reserve declined to comment on Trump's threat, but a US State Department official confirmed that the possibility of restricting access to the Federal Reserve account was "raised" with Iraq after the vote. "You can imagine why if the forces were expelled, the banks might be concerned about sending a lot of money to Baghdad," said the official. But the American threat remains largely unusual, as the Federal Reserve is supposed to be independent of foreign policy. “The attempt to politicize dollar shipments raises the bank’s concern because it affects its standing and integrity in dealing with customers,” he said, adding that “Trump is clearly ready to politicize everything.” Washington has considered this measure months ago, when a senior US diplomat at the US embassy in Baghdad said in July that the United States was considering "limiting the flow of money into Iraq". "This will be the nuclear option (knockout)," said the diplomat. And before the Iraqi parliament voted, its president, Muhammad Al-Halbousi, warned that the world might stop dealing with Iraqi banks in response to this step. The Federal Reserve account of the Iraqi Central Bank can be frozen by placing a government agency on the black list, which will immediately restrict Baghdad's access to dollars. The United States has already imposed sanctions on Iraqi citizens, armed factions, and even banks linked to Iran, Washington's archenemy in the region. But it has not come close to oil revenues, and former officials have said that a similar move would be extremely harmful to a country considered an ally of the United States. Washington may lose Iraq But relations have deteriorated recently, with Washington frustrated by Iraq’s alliance with Iran, and repeated missile attacks on US interests that have blamed Washington’s Iraqi factions loyal to Tehran. After that, relations witnessed a severe blow with the assassination of Soleimani and the engineer, which Iraq considered a violation of its sovereignty. US and Iraqi officials note that the United States is also studying other, less exciting options. One of those options is for Washington to refuse to renew the temporary exemption it granted to Iraq in 2018, which allows Baghdad to import gas from Iran to feed the devastated electricity grid, despite US sanctions on the Iranian energy sector. In the event that Washington does not renew the exemption in February, the Commercial Bank of Iraq, which buys gas, may face secondary sanctions for dealing with blacklisted Iranian entities. Iraqi officials say that the American threat to deny access to oil revenues has been met with shock, anger and almost disbelief. One of the officials commented, "The Prime Minister was angry and insulted." Another considered that the United States would "lose Iraq", adding: "They pushed us toward Russia, China and Iran, we must form a separate economy with these countries." glgamesh.com
    552 replies | 23972 view(s)
  • DodgerBoy's Avatar
    01-12-2020, 09:55 PM
    There have been some GREAT football games this weekend. Hope everyone is having a good start to the new decade.
    552 replies | 23972 view(s)
  • Bondlady2's Avatar
    01-12-2020, 11:23 AM
    gm ds.
    552 replies | 23972 view(s)
  • harry's Avatar
    01-12-2020, 09:48 AM
    good morning to all ds i pray that everyone will have a special blessing today Parliamentary Finance: The 2020 budget includes the exchange of the last payment of Kuwait's debts Economy | 04:26 - 12/01/2020 image Baghdad - Mawazine News revealed a member of the Parliamentary Finance Committee Hanin Qaddu, today, Sunday, that this year's budget will include the payment of the last payment of debts owed by the Iraqi government to Kuwait, amounting to $ 2 billion. Qaddo said in a radio statement that was followed by / Mawazine News, that "the total amounts of the Iraqi budget for the year 2020 amount to fifty trillion Iraqi dinars, which are distributed between the salaries of the ruling expenditures such as the ration card and the wages of other cases." He explained, "The total debt owed by Iraq amounts to $ 28 billion, indicating that Iraq seeks to delay the payment of its debts to the Gulf countries or go to the Paris Club to reduce them to 40%." mawazin.net
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