Collapse Of The Currency Or Is CBI Hiding Something?

[Luigi1]

Luigi asks...

Is this article nonsense & just misinformation?

Is the IQD in danger of collapse?

Inquiring minds want to know.

Not verified. Your opine.

 

 

 

2 Sep 2017  Kaperoni...

Article: “Economic attacks the central bank warns of the imminent collapse of the currency”

Quote: “The Iraqi Central Bank to conduct the recent lifting of Iraq ‘s reserves data from the dollar on the website of the bank, evidence of the lack of transparency among its employees with public opinion.”

I think he is saying since the CBI has not updated the statistics on the CBI website, they are hiding something.

He references the reserves not being at the level presented and at least equal to the dinar in circulation.

To be honest, it is hard to find anything on the new website.

[Luigi1]

here's another article related to the above...

Luigi asks...I China is sick  tired of carrying the USA on it's back.

China orders the IQD RV & USN release. USA must stand on it's own.

 

 

2 Sep 2017  Judy Byington...

The Chinese military is now in charge of the RV, (which includes Bank of China execs stepping into redemption centers).
If this final (Labor Day) weekend of summer is not the weekend that we will RV - which has been 100% confirmed by multiple sources in multiple arenas, then a Sept. 30th back wall is also the debt ceiling date per a UST source.
The USA will have no operating funds come Oct. 1st without an RV. Period.
The Chinese Sovereigns have underwritten the entire US economy since August 2013 and they are done carrying the load.
The Republic is planning a Sat. night forced release that ends before Oct. 1 2017.
Could a Sat. Sept. 3 start time of 3:30am EDT be accurate?
Could Tues. Sept. 5 at 7:28am EDT be a completion time for private sovereign redemption when Mercury Retrograde goes direct, also be right?

 

[King Bean]

28 minutes ago, Luigi1 said:

The Republic is planning a Sat. night forced release

 

Judy Lie-ington calling it again. Ooooohhhh. Love me some Saturday night !!

     

[alreis]

Some wonderful information with so many links to verify all of this wonderful information. How wonderful.

thank you so much. Such a wonderful country, China. Life is going to be wonderful again.

[Charlie Echo]

China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold

The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports.

The crude oil futures will be the first commodity contract in China open to foreign investment funds, trading houses, and oil firms. The circumvention of U.S. dollar trade could allow oil exporters such as Russia and Iran, for example, to bypass U.S. sanctions by trading in yuan, according to Nikkei Asian Review. To make the yuan-denominated contract more attractive, China plans the yuan to be fully convertible in gold on the Shanghai and Hong Kong exchanges.

Last month, the Shanghai Futures Exchange and its subsidiary Shanghai International Energy Exchange, INE, successfully completed four tests in production environment for the crude oil futures, and the exchange continues with preparatory works for the listing of crude oil futures, aiming for the launch by the end of this year. ?

 

“The rules of the global oil game may begin to change enormously,” Luke Gromen, founder of U.S.-based macroeconomic research company FFTT, told Nikkei Asia Review.

The yuan-denominated futures contract has been in the works for years, and after several delays, it looks like it may be launched this year. Some potential foreign traders have been worried that the contract would be priced in yuan.  ...........

http://oilprice.com/Latest-Energy-News/World-News/China-Readies-Yuan-Priced-Crude-Oil-Benchmark-Backed-By-Gold.html

[Charlie Echo]

Has Iraq Stopped Cheating On The OPEC Deal?

 

OPEC’s no.2 Iraq is currently producing 4.32 million bpd of oil, below the 4.351 million bpd ceiling it had pledged in the production cut deal, Iraq’s Oil Minister Jabbar Al-Luaibi said on Friday, in what is the first sign that one of the worst-compliant producers so far may have finally started to stick to its commitment—a couple of months after the original agreement was set to expire.

Despite Iraq’s optimism, its central government doesn’t yet have the full picture of the oil exports of the Kurdistan Regional Government, Al-Luaibi said after meeting with Russia’s Energy Minister Alexander Novak in Moscow.

Iraq’s oil exports are up to 3.23 million bpd, Al-Luaibi told reporters, adding that Kurdish crude exports are at between 300,000 bpd and 350,000 bpd.

 

According to data on tanker traffic compiled by Bloomberg, total exports from Kurdistan—including production of some fields in the region that are governed by the central government—averaged 581,000 bpd in August, up by 31,000 bpd over July and the highest since May.

Iraq was the worst compliant producer in the first half of 2017, with output averaging 69,000 bpd over its quota between January and June, according to S&P Global Platts OPEC survey—which is one of OPEC’s secondary sources.

Concerned with slipping compliance, OPEC held a meeting with some of the producers in early August and cited its members Iraq and the UAE, as well as non-OPEC signatories to the deal Kazakhstan and Malaysia, as laggards in compliance.

Now Iraq is telling the market that it not only complies, but exceeds its compliance rate, and “is really committed” to the deal, according to Al-Luaibi’s remarks in Moscow today. Related: Russia’s Comeback In The LNG Race

Referring to a possible extension of the cuts beyond the current end-date of March 2018, the Iraqi oil minister reiterated the position of other officials of OPEC’s heavyweights—it’s too early to discuss it now and a decision whether to further extend the pact will be made in November.

The oil market is moving in the right direction towards rebalancing, but all options, including extending the cuts beyond March 2018, are left open, the joint OPEC/non-OPEC committee set up to monitor compliance with the cuts and the state of the oil market said last week.

http://oilprice.com/Energy/Oil-Prices/Has-Iraq-Stopped-Cheating-On-The-OPEC-Deal.html

[sandfly]

hummm

[coorslite21]

9 hours ago, Charlie Echo said:

China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold

The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports.

The crude oil futures will be the first commodity contract in China open to foreign investment funds, trading houses, and oil firms. The circumvention of U.S. dollar trade could allow oil exporters such as Russia and Iran, for example, to bypass U.S. sanctions by trading in yuan, according to Nikkei Asian Review. To make the yuan-denominated contract more attractive, China plans the yuan to be fully convertible in gold on the Shanghai and Hong Kong exchanges.

Last month, the Shanghai Futures Exchange and its subsidiary Shanghai International Energy Exchange, INE, successfully completed four tests in production environment for the crude oil futures, and the exchange continues with preparatory works for the listing of crude oil futures, aiming for the launch by the end of this year. ?

 

“The rules of the global oil game may begin to change enormously,” Luke Gromen, founder of U.S.-based macroeconomic research company FFTT, told Nikkei Asia Review.

The yuan-denominated futures contract has been in the works for years, and after several delays, it looks like it may be launched this year. Some potential foreign traders have been worried that the contract would be priced in yuan.  ...........

http://oilprice.com/Latest-Energy-News/World-News/China-Readies-Yuan-Priced-Crude-Oil-Benchmark-Backed-By-Gold.html

 

So if I were running the finances of a country, who would I rather be buying/selling oil from/to........Gold backed with an under valued currency.....or fiat paper from a country that is $20 trillion in debt with nothing backing up the value of the paper they print other than the good faith of the purchaser.

 

The trouble is the entire world finances are built on these fiat currencies.......and this is why some think there will be major changes world wide to currency soon.  Iraq has positioned themselves pretty well for this new reality........JMO

[ChuckFinley]

23 minutes ago, coorslite21 said:

 

So if I were running the finances of a country, who would I rather be buying/selling oil from/to........Gold backed with an under valued currency.....or fiat paper from a country that is $20 trillion in debt with nothing backing up the value of the paper they print other than the good faith of the purchaser.

 

The trouble is the entire world finances are built on these fiat currencies.......and this is why some think there will be major changes world wide to currency soon.  Iraq has positioned themselves pretty well for this new reality........JMO

When I read Gold Back I started thinking the same thing.