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About sheepdog

  • Birthday 12/02/1942

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  1. Adam, I just listened to FOX News at 3 PM this afternoon. Lots of discussion about Iraq and the bad situation there. Fox News is reporting many major cities have been taken over by this militant group and the people are fleeing from all major cities. Fox News says the Iraqi police and military people (the Iraqi soldiers) just left their positions and all the equipment the US gave them to fight the the enemy in the Militants hands. It's a sad day and a bad scene in Iraq. The US spent 17 billion there to give the Iraqi's their freedom. We lost 4000 good men and women there in that fight.
  2. ___________________________________________________________________________________________________________ Subject: Unbelievable Treachery! Watch, and Let this sink in ! The person in this video is a professor (Ph.D.) at Yavapai College in Prescott, Arizona. He puts a different spin on what Obama is doing to Arizona must be why he's rated highly by his students - 3.8 on a 4.0 scale. This may be the best video produced on the illegal alien problems that are being experienced. Watch the video, it is short and makes a lot of sense. Forward the email , We need to get the word out. ___________________________________________________________________________________________________________
  3. Dear Wall Street Daily Nation, When I find worthwhile opportunities from other publishers with obvious merit, I pass them along. Below you'll find one such offer from our colleagues at The Sovereign Society. Please give it careful consideration. - Robert Williams * * * James Dale Davidson is back - once again - with another portfolio-rattling exposé. His last exposé helped lead to six Congressional hearings... and blew one of the first major holes in the almost monopoly-like power America's big media conglomerates wielded over information flows... He even named names... including those of past presidents and their wives (some of whom he once often dined with, and used to call his friends). Now he is about to do it again, but this time on a story so big, and so polarizing, it will make the Watergates and the Madoffs of the past read like back-page fodder. What's more, the implications it will have on almost every aspect of your life... and on almost every investment you own... promise to be as equally dramatic... To view this shocking new video, click here. Sincerely, Erika Nolan Executive Publisher, The Sovereign Society Dear Wall Street Daily Nation, When I find worthwhile opportunities from other publishers with obvious merit, I pass them along. Below you'll find one such offer from our colleagues at The Sovereign Society. Please give it careful consideration. - Robert Williams * * * James Dale Davidson is back - once again - with another portfolio-rattling exposé. His last exposé helped lead to six Congressional hearings... and blew one of the first major holes in the almost monopoly-like power America's big media conglomerates wielded over information flows... He even named names... including those of past presidents and their wives (some of whom he once often dined with, and used to call his friends). Now he is about to do it again, but this time on a story so big, and so polarizing, it will make the Watergates and the Madoffs of the past read like back-page fodder. What's more, the implications it will have on almost every aspect of your life... and on almost every investment you own... promise to be as equally dramatic... To view this shocking new video, click here. Sincerely, Erika Nolan Executive Publisher, The Sovereign Society
  4. I'm so sorry to hear this news. I too looked forward to reading his posts.
  5. FYI: Just passing this on. I received a phone call from my friend Jack saying this lady "Peggy" address listed below, sent him this email message stating to him there is a group of investors willing to buy your dinars at a profit to you. I don't know any of the people in the email except my friend Jack. Adam has always said don't give your dinars to anyone. I have no other info to share with you other than what's stated here. Just wondering if anyone else has seen or heard this same story. It all sounds mighty fishy to me.Think you smell a rat?? From: xxxxxxxxxx Sent: 6/10/2013 5:07:39 P.M. Eastern Daylight Time Subj: Notes from phone call Jack: I have just spoken with Rick Winer, the head Trustee for the Exchange Project. He is sending me an email for you that I will forward. It will have all of the info needed to send your "d" and forms to him. He is willing to even cover the cost of the Fedex for you. I tell you, these are good people. big rush as the project is in process and we will have a warning before it is ending. The good news is, you are in. He is very sure it will come to fruition this summer, probably by the end of July. So, send whatever you feel led to send. FYI - I am sending more after talking with him. The email with instructions wil come as soon as he sends it to me. Please let me know who else needs help and has dinar. Have them call me: xxx-xxx-xxxx. Blessings, xxxxxxx -- "For our citizenship is in Heaven, from which we also eagerly wait for the Savior, the Lord Jesus Christ, who will transform our lowly body that it may be conformed to His glorious body, according to the working by which He is able even to subdue all things to Himself." Phil. 3:20-21 xxxxxxxxxxxxx
  6. I rec'd this email from someone on another site. I don't know if this tax info is correct or incorrect .I just would like to know what is right. Anyone who wishes to comment about it's correctness or incorrectness would be appreciated. Thanks Note: multiple/ repeated copies here, just ignore them Treasure Department Regulations related to the currency RV Subj: TAKE NOTE: Treasure Department Regulations related to the currency RV. Friends: These policies were published almost two years ago and again today. They have not changed. Apparently we are being prepared for the Revaluation of various currencies. Good. FInally. ALSO Scroll down for additional information: From the US TREASURY: Please note new regulations on exchanging Iraqi Dinar: 1. Ledger to Ledger transfers / Internal transfers will not be allowed due to US Treasury Department restrictions. 2. Per US Treasury Department directives, wires can only be sent to the individual exchanging the dinar and the account must be in that person’s name. 3. Per US Treasury Department directives, wires can only be sent internationally if the individual making the exchange is a citizen of that country and the account is in the customer’s name. 4. Exchanges to trusts must be initiated by the beneficiary of the trust. (Peggy's note: If you have STS you are a beneficiary.) 5. Per US Treasury Department directives, dinar exchanges must convert to US dollars in the customer’s name prior to any purchase of precious metals or other commodities. ===-=== Suggestions that are circulating: DEFINITELY DO NOT CALL your bank transaction AN INVESTMENT. It is a currency-to-currency conversion. rehearse this WE are all CONVERTING one currency to another currency. That's all. Unless Congress changes laws retroactively, there cannot be a tax because there is no gain of capital. There is no profit or capital increase in this transaction - no capital gain. Explanation follows: You did not buy the foreign currency for personal use (as when taking a trip), WHEN YOU BOUGHT THE FOREIGN CURRENCY, YOU PAID EXACTLY WHAT IT WAS WORTH AT THAT TIME. AND WHEN YOU EXCHANGE IT TO ANY OTHER CURRENCY, YOU WILL EXCHANGE IT FOR EXACTLY WHAT IT IS WORTH AT THIS TIME. Illustration, assuming the old rate is still in place. As this is written It takes one US dollar to buy 1193 Dinar on March 9. EXAMPLE: There is one country where you can buy things either with dollars or with Dinar (IRAQ) So, you could fly to Iraq today March 9 where they have prices showing both US dollars and in Dinar in their stores. You can go there and price a new car. The car sticker on March 9 probably reads: PRICE: 30,000 US Dollars or 35,790,000 Iraqi Dinar (Multiply the US dollar price by today's rate of 1193 Dinar/dollar.) BUT, after the RV the new rate might be reset causing each single Dinar to be worth US $4.00. So if you fly to Iraq after the RV to price a new car, the sticker may read this way: PRICE: 30,000 US dollars or 7,500 Iraqi Dinar (Divide 30,000 USD by the $4.00 rate in this example.) It will look to us as though we have a lot more dollars in our accounts after the RV, BUT WE MADE NO GAIN IN BUYING POWER. That's why the government resets or revalues the currency rates sometimes - the government increases or decreases your buying power by resetting the rate of exchange. THIS NOT PROFIT FOR YOU THE BUYER. The RV rate change brings you up to an equality that matches the value of the other international currency. Reread this example and at least memorize the upper case letters above. DO NOT VOICE THE WORD INVESTMENT AT THE BANK OR ANYWHERE. Speaking of currency values, the US dollar is worth less and less each passing day. Buying power is DECREASING when you buy anything with dollars. Gasoline used to be under a dollar, now it's 4 or 5 times higher. A gallon of orange juice was $1.40 in Feb 2010 Then $2.00 then $3.20 in Feb 2011. In Feb 2013 it is $6.20 As the dollar descends in buying power, IT WILL TAKE MORE AND MORE DOLLARS to buy one Dinar. In other words, the rate of exchange of Dinar to US dollars, is likely to go UP to $7.00, then $10.00. then $12.00 in the future. That's the reason that many people expect to hold on to some Dinar for a while. They may convert a few Dinar ASAP, but hold other Dinar to see how quickly the US dollar will go down (meaning how quickly will the Dinar conversion rate go up). If you have DInar or Dong in your hand, you are probably holding the most valuable currency on the planet - on the day after the Revaluation. You deserve to be converting your Dinar into a Gold or metals-backed currency - but there aren't any. Therefore we should store our incoming dollars from the converted Dinar in a no-interest account temporarily, in case the US Treasury comes out with a new metals-backed currency, enabling you to then convert your bank dollars (uncorrupted with old greenback dollars) - converted someday into new US treasury bills that will have some yellow colors on the bills. IS THE US GOVERNMENT BEING CHEATED IF THERE IS NO CAPITAL GAINS TAX? NO: When you do your exchange, the Treasury is going to get 1 or 2 or 3 dollars for every Dinar you conver to dollars. NO: The government has some deal by which the US will get Barrels of oil for some low price (did I read $30 per barrel for 5 years?) NO: The bank also will get at least one dollar for every Dinar you convert, thus helping to bail out the bank derivative debts. NO: You will rush around buying boats, cars, trucks, and airplanes, providing a tsunami of sales tax inflow to the Treasury.
  7. APNews | 6 hours ago <h4></h4>BAGHDAD (AP) — Hackers have broken into the official website of the embattled Iraqi prime minister, calling him an "oppressor."Nouri al-Malik is facing a surge of protests by Iraq's Sunni minority, tensions with the autonomous Kurdish region and discontent among fellow Shiites.A statement on his website Saturday compared him to Bashar Assad, the Syrian leader who brutally cracked down on an uprising against him that has turned into a civil war.The statement by "Team Kuwait Hackers" told the Iraqi leader, "You want to be like Bashar Assad ... Bashar is over."The message was accompanied by a picture of wailing black-clad women in mourning. It was up for several hours until the site was taken down.Telephone calls to al-Maliki's office went unanswered.
  8. jon 29, I believe you are right on with the above statement. It makes sense to me knowing the blatant thievery that has taken place in our gov.
  9. FYI: Someone sent me this article about the Iraq conference in London & who (names) will be there. Also on the video,some info about 2nd passports, global investments & more. I listened to the video. Adam talks about this stuff on our site. Some of what is said in this video does not sound like it is all legal to me. I would like some comment/input from the more knowledgeable people about the info here. Ex: it says to get a 2nd passport in another name. Why would a person want to be someone other than your real self on a 2nd passport? I ? some things being told to folks in the video. Maybe these questions could be addressed in the Wednesday Adam Chat. One week from today, the big Iraq Finance Conference will open in London. The who's who of Iraqi financial big wigs will be there. Including Shabibi himself. BUT, you may not know this... Someone else is going to be there too. This person may be even BIGGER than the big wigs. ======= email ad sponsor =======Discover How To Protect Your Assets From Greedy Government Bureaucrats by using the same "Multinational" tax loopholes used by Billionaires so you stay safe, secure and living like a king even after the "you know what" hits the fan...In this free video you'll also discover how to "escape and evade" the corrupt government, create secret identities and relax in your paradise safe-haven...Click here to watch the video now! (To help keep emails like this fr'ee for you, I receive a commission if you purchase...) ======= At least to you and me anyway. Actually, its not who he is but rather WHAT he does and who he works for that grabs my attention. When you see a picture of him, he looks like a young kid (I'm sure a super smart young kid)... So you wouldn't think too much about him in a room of power dudes. But. He's the Regional Director of Sales for the Middle East and South Asia for The Royal Mint! This is he group responsible for minting currency for over 60 countries around the world. The Royal Mint is the largest EXPORTING mint in the world. And this "kid" is giving a speech at Iraq's Finance Conference. whoa! This GRABBED my attention when Dinar Guru Gold Member J.W pointed it out to me. I knew you'd want to know this too! You can see the full Iraq Finance 2012 speaker lineup here...
  11. BAGHDAD — Iraq's government, already infamous for its lethargy and red tape that has snarled national progress, may soon shut down for much of the summertime. A proposed new law, which a parliamentary committee plans to discuss Sunday, aims to shorten workdays and help public employees avoid searing temperatures that commonly exceed 120 degrees and blanket the country during summer's peak. It will also cut work hours during the Muslim holy month of Ramadan that begins in late July, Younadam Kanna, chairman of parliament's labor and social affairs committee, said Saturday. But Iraq is already feeling the heat from its people and foreign partners. Experts say its government largely has failed to overcome decades of war, sanctions and military occupation and settle into a new democratic system that delivers reliable security, electricity and other public services, or fosters job growth. Much of the government's work has been slowed by a political crisis, fueled by ethnic and sectarian tensions, that flared immediately after U.S. troops withdrew from Iraq last December and has produced demands for the Shiite prime minister's ouster. "The employees in our ministries are looking for any pretext to run away from their offices," Jassim al-Obeidi, a real estate agent in Baghdad, said Saturday. "I think that this measure will add more delay to the work in the government offices, and the only damaged party will be the ordinary people who will have to spend more time and efforts trying to finish their paperwork for the government." Kanna, a member of parliament's tiny Christian political coalition, said the new law should not significantly affect the government work. But he said it is still not decided how short workdays might be cut. He also declined to comment on whether it would apply to security forces, lawmakers or top ministry officials. "We think that the proposed measure is necessary for government employees, especially those who work in the streets, construction sites or open fields," Kanna said Saturday. "Working under high temperatures for a long time will definitely affect the health of the employees or workers." Last week, the U.S.-based Fund for Peace ranked Iraq No. 9 on its annual Top Ten list of failed states worldwide. The nonpartisan research group ranked 178 nations and cited persisting security problems in Iraq, like the attacks that have killed more than 160 people so far this month, amid few improvements in soothing the long-standing ethnic and sectarian tensions. Other groups highlight corruption as a key obstacle undercutting development and trust in state institutions. But Iraqis frequently complain that languid administration compounds the problems caused by instability and corruption. Like many Muslim countries, official work in Iraq usually grinds to a halt during Ramadan, which this year begins July 20. But the law would for the first time legalize the slowdown for the country's Before then, parliament is trying to rush through votes on as many as 50 pieces of legislation that have been stalled for at least since the beginning of the year. Laws to divide oil revenues between the central government in Baghdad and Iraq's self-rule Kurdish region, and settle boundaries for disputed lands in the country's north, have languished for years. Parliament's major accomplishment so far this year was approval of Iraq's $100 billion operating budget – which included $50 million to pay for pricey armored cars for each of the 325 lawmakers. Lawmakers earn an estimated $22,500 each month in salary and allowances for housing and security. In contrast, a midlevel government employee makes around $600 a month. Education ministry employee Abas al-Saadi welcomed the extra time, noting that "there are a lot of holidays in this country during the year and few more hours off will not hurt." "With the summer temperatures in this country and the constant electricity cutoffs, I think the law recommendation is positive and helpful for employees, especially those who want to fast during Ramadan," he said. ___ Associated Press Writer Sameer N. Yacoub contributed to this report. Follow Lara Jakes on Twitter at
  12. Marin Katusa, an accomplished investment analyst, is the senior editor of Casey Energy... Read More Browse more articles & commentary [/url] So Long, US Dollar Marin Katusa, Chief Energy Investment StrategistApril 25, 2012 8:56pm GMTBy Marin Katusa, Casey Research There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency. For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and that international demand constitutes a huge part of the dollar's valuation. Not only did the global-currency role add massive value to the dollar, it also created an almost endless pool of demand for US Treasuries as countries around the world sought to maintain stores of petrodollars. The availability of all this credit, denominated in a dollar supported by nothing less than the entirety of global trade, enabled the American federal government to borrow without limit and spend with abandon. The dominance of the dollar gave the United States incredible power and influence around the world… but the times they are a-changing. As the world's emerging economies gain ever more prominence, the US is losing hold of its position as the world's superpower. Many on the long list of nations that dislike America are pondering ways to reduce American influence in their affairs. Ditching the dollar is a very good start. In fact, they are doing more than pondering. Over the past few years China and other emerging powers such as Russia have been quietly making agreements to move away from the US dollar in international trade. Several major oil-producing nations have begun selling oil in currencies other than the dollar, and both the United Nations and the International Monetary Fund (IMF) have issued reports arguing for the need to create a new global reserve currency independent of the dollar. The supremacy of the dollar is not nearly as solid as most Americans believe it to be. More generally, the United States is not the global superpower it once was. These trends are very much connected, as demonstrated by the world's response to US sanctions against Iran. US allies, including much of Europe and parts of Asia, fell into line quickly, reducing imports of Iranian oil. But a good number of Iran's clients do not feel the need to toe America's party line, and Iran certainly doesn't feel any need to take orders from the US. Some countries have objected to America's sanctions on Iran vocally, adamantly refusing to be ordered around. Others are being more discreet, choosing instead to simply trade with Iran through avenues that get around the sanctions. It's ironic. The United States fashioned its Iranian sanctions assuming that oil trades occur in US dollars. That assumption – an echo of the more general assumption that the US dollar will continue to dominate international trade – has given countries unfriendly to the US a great reason to continue their moves away from the dollar: if they don't trade in dollars, America's dollar-centric policies carry no weight! It's a classic backfire: sanctions intended in part to illustrate the US's continued world supremacy are in fact encouraging countries disillusioned with that very notion to continue their moves away from the US currency, a slow but steady trend that will eat away at its economic power until there is little left. Let's delve into both situations – the demise of the dollar's dominance and the Iranian sanction shortcuts – in more detail. Signs the Dollar Is Going the Way of the Dodo The biggest oil-trading partners in the world, China and Saudi Arabia, are still using the petrodollar in their transactions. How long this will persist is a very important question. China imported 1.4 million barrels of oil a day from Saudi Arabia in February, a 39% increase from a year earlier, and the two countries have teamed up to build a massive oil refinery in Saudi Arabia. As the nations continue to pursue increased bilateral trade, at some point they will decide that involving US dollars in every transaction is unnecessary and expensive, and they will ditch the dollar. When that happens, the tide will have truly turned against the dollar, as it was an agreement between President Nixon and King Faisal of Saudi Arabia in 1973 that originally created the petrodollar system. Nixon asked Faisal to accept only US dollars as payment for oil and to invest any excess profits in US Treasury bonds, notes, and bills. In exchange, Nixon pledged to protect Saudi oilfields from the Soviet Union and other potential aggressors, such as Iran and Iraq. That agreement created the foundation for an incredibly strong US dollar. All of the world's oil money started to flow through the US Federal Reserve, creating ever-growing demand for both US dollars and US debt. Every oil-importing nation in the world started converting its surplus funds into US dollars to be able to buy oil. Oil-exporting countries started spending their cash on Treasury securities. And slowly but surely the petrodollar system spread beyond oil to encompass almost every facet of global trade. The value of the US dollar is based on this role as the conduit for global trade. If that role vanishes, much of the value in the dollar will evaporate. Massive inflation, high interest rates, and substantial increases in the cost of food, clothing, and gasoline will make the 2008 recession look like nothing more than a bump in the road. This will be a crater. The government will be unable to finance its debts. The house of cards, built on the assumption that the world would rely on US dollars forever, will come tumbling down. It is a scary proposition, but don't bury your head in the sand because countries around the world are already starting to ditch the dollar. Russia and China are leading the charge. More than a year ago, the two nations made good on talks to move away from the dollar and have been using rubles and renminbi to trade with each other since. A few months ago the second-largest economy on earth – China – and the third-largest economy on the planet – Japan – followed suit, striking a deal to promote the use of their own currencies when trading with each other. The deal will allow firms to convert Chinese and Japanese currencies into each other directly, instead of using US dollars as the intermediary as has been the requirement for years. China is now discussing a similar plan with South Korea. Similarly, a new agreement among the BRICS nations (Brazil, Russia, India, China, and South Africa) promotes the use of their national currencies when trading, instead of using the US dollar. China is also pursuing bilateral trades with Malaysia using the renminbi and ringgit. And Russia and Iran have agreed to use rubles as a means of currency in their trades. Then there's the entire continent of Africa. In 2009 China became Africa's largest trading partner, eclipsing the United States, and now China is working to expand the use of Chinese currency in Africa instead of US dollars. Standard Bank, Africa's largest financial institution, predicts that $100 billion worth of trade between China and Africa will be settled in renminbi by 2015. That's more than the total bilateral trade between China and Africa in 2010. The idea of moving away from the dollar is also finding support from major international agencies. The United Nations Conference on Trade and Development has stated that "the current system of currencies and capital rules that binds the world economy is not working properly and was largely responsible for the financial and economic crises." The statement continued, saying "the dollar should be replaced with a global currency." The International Monetary Fund agrees, recently arguing that the dollar should cede its role as global reserve currency to an international currency, which is in effect a basket of national currencies. There is also a host of countries that have started using their own currencies to complete oil trades, a move that strikes right at the heart of US-dollar dominance. China and the United Arab Emirates have agreed to ditch the dollar and use their own currencies in oil transactions. The Chinese National Bank says this agreement is worth roughly $5.5 billion annually. India is buying oil from Iran with gold and rupees. China and Iran are working on a barter system to exchange Iranian oil for Chinese imported products. Speaking of Bartering for Oil… How about Those Iranian Sanctions? The United States and the European Union based their Iran sanctions on the financial system behind Iran's oil trade. The country uses its central bank to run its oil business – the bank settles trades through the Belgium company Swift (Society for Worldwide Interbank Financial Telecommunication) and the trades are always in US dollars. Once they take full effect in July, US and EU sanctions against Iran will make transactions with the Iranian central bank illegal. When that occurs, this official avenue of trade will shut down. In fact, Iran was shut out of Swift a few weeks ago, so that road is already blockaded. But the arrogance in the sanctions is the assumption that Iran can only use this one, dollar-based avenue. In reality, the Islamic Republic is considerably more agile than that; removing its ability to trade in the official manner is only encouraging the country to find imaginative new methods to sell its oil. Since the sanctions were announced, Tehran's official oil sales have certainly declined. Iran actually preemptively halted oil shipments to Germany, Spain, Greece, Britain, and France, which together had bought some 18% of Iran's oil. But covert sales have curbed or perhaps even reversed the reduction in shipments. It is impossible to know the details, as buyers and sellers involved in skirting the sanctions are being very discreet, but the transactions are undoubtedly happening. As mentioned above, Iran is selling oil to India for gold and rupees. China and Iran are working on a barter system to exchange Iranian oil for Chinese imported products. China and South Korea are also quietly buying Iranian oil with their own currencies. The evidence? Millions of barrels of Iranian oil that were in storage in Iranian tankers a few weeks ago now seem to have disappeared. Officially, no one knows where the oil went. Was it rerouted? Has production been shut in? Is the oil being stored elsewhere? Oil is fungible, which means one barrel of crude is interchangeable with another. Once it leaves its home country, it can be nearly impossible to know where a barrel of oil originated, if its handlers so desire. And it's not just barrels that are hard to track – even though oil is carried on ships so large they are dubbed "supertankers" it is surprisingly difficult to keep tabs on every tanker full of Iranian oil. And the Iranians are using every trick in the book to move their oil undetected. In the last week it became apparent that Tehran has ordered the captains of its oil tankers to switch off the black-box transponders used in the shipping industry to monitor vessel movements and oil transactions. As such, most of Iran's 39-strong fleet of tankers is "off radar." According to Reuters, only seven of Iran's Very Large Crude Carriers (VLCCs) are still operating their onboard transponders, while only two of the country's nine smaller Suezmax tankers are trackable. Under international law ships are required to have a satellite tracking device on board when travelling at sea, but a ship's master has the discretion to turn the device off on safety grounds, if he has permission from the ship's home state. Some tankers turned off their trackers to avoid detection last year during the Libyan civil war in order to trade with the Gaddafi government. And Iran is about to gain even greater flexibility in disguising the locations of oil sales, as the National Iranian Tanker Company (NITC) is about to take delivery of the first of 12 new supertankers on order from China. The new tankers will add much-needed capacity to NITC's fleet at a time when the number of maritime firms willing to transport Iranian crude has dwindled significantly, forcing Iran's remaining buyers to rely on NITC tankers. Thankfully for NITC, the 12 new VLCCs – each capable of transporting two million barrels of crude – will significantly expand the company's current fleet of 39 ships. Sanctions or no sanctions, Iran is moving its oil. But even having your own, off-radar ships to transport oil bought in renminbi or rupees or won doesn't mean all these tricks and maneuvers don't have a cost. Freight costs for each voyage add up to nearly $5 million, a sizeable hit for Tehran. Iran is often also shelling out millions of dollars in insurance for each oil shipment, because the majority of international shipments are insured through a European insurance consortium that is backing away from Iranian vessels because the EU sanctions will make such transactions illegal. And since business is business, buyers are also demanding much better credit terms from the National Iranian Oil Company (NIOC) than normal. Traders are reporting agreements giving the buyer as much as six months to pay for each two-million-barrel cargo, a grace period that would cost Tehran as much as $10 million per shipment. For Tehran to cover freight costs, insurance, and the cost of generous credit terms wipes out as much as 10 percent of the value of each supertanker load. Beyond that, customers are also negotiating better prices. For example, the flow of Iranian oil to China did slow in the first quarter of the year, but not because China endorsed the sanctions. Rather, Chinese refiner Sinopec reduced purchases to negotiate better prices with the National Iranian Oil Company. The country's imports from Iran are expected to climb back to the 560,000 barrel-per-day level in April. That trade, along with non-dollar-denominated deals with India, Turkey, Syria, and a long list of other friendly nations, will keep Iran's finances afloat for a long time. The sanctions may be preventing Tehran from banking full value for each tanker of oil, but there is still a lot of Iranian oil money flowing. The mainstream media is avoiding all discussion of the demise of the US dollar as the world's reserve currency. Even fewer people are talking about how sanctions based on Iran's supposed need to use the US dollar to sell its oil leave loopholes wide enough for VLCCs to sail right through. Without acknowledging the elephant in the room, articles about Iranian tankers turning off their transponders or India using gold to buy Iranian oil invariably sound like plot developments in a spy thriller. Much more useful would be to convey the real message: The world doesn't need to revolve around US dollars anymore and the longer the US tries to pretend that the dollar is still and will remain dominant, the more often its international actions will backfire. [The end of dollar dominance is a very ominous sign for the US economy… especially since the federal government seems to be ignoring this enormous elephant. Ignore it at your peril – or get advice from over 30 financial experts that will help you thrive during the tumultuous
  13. [scooter-EG] they have themselves in a dilemna right now [scooter-EG] centralized control vs decentralized control [scooter-EG] it’s a growth problem really [scooter-EG] remember — this country is in its embryonic stage of development This part make me believe we are in for a long wait for an RV
  14. OK friends, I'm breaking my silence on the Iraq Dinar. My heart breaks as I see a spirit of distraction that has overtaken God's people via an obsession of reading internet gossip and untruths about the Iraqi currency and it's revaluing. This has caused confusion and chaos, and unfortunately a spirit of gossip, which is a sin against God by the way, among Christians as they speak to each other things that just are not true. As you know, I was an Inspector and Auditor for the US Government over Iraq, overseeing the money being spent to rebuild the country, investigating financial matters, and writing reports to the US Congress. I lived and worked in the Baghdad Embassy a long time. My friends there helped establish the financial and banking system in Iraq. Those who know me personally, that have asked me, I have told you that yes, I believe in Iraq, the future economy and I believe in the people of Iraq and their long term prosperity; but investment in Iraq currency, or the stock market, should be treated as a long term investment. The Dinar, like any currency, is a very risky investment, and importantly, a long term investment. Most grievous, is the amount of time I hear people spending online constantly reading all the latest gossip and (excuse me as I choke) news. Think what would be accomplished if that time was spent in Bible study or serving the Kingdom. It is just another distraction from the enemy. A big one. What part of "Thou shalt not put any gods before me" don't we understand. Obsession with quick money, and money in general, is against God's will. You must think about where your focus is. And I will give you the truth to break the spell of the Dinar. Treat it like a normal investment, which it is, and not some crazy get rich quick scheme, which it is not. It doesn't matter what you have read, or what you have heard. The Iraq Dinar will not, or was it ever, going to revalue until the agreement with the International Monetary Fund (IMF) comes to a close and new agreement issued. (more on the actual agreement below) The agreement between the IMF and the Government of Iraq, and Central Bank of Iraq (CBI), which are 2 different entities, was set years ago and established and set a stable currency, the Iraq Dinar, at 1170 per dollar. Locked at that rate. Period. Not moving. The stability of the Iraq currency is essential, per the agreement, for the long term development of the banking sector and private financial and business markets within Iraq. The World bank and the IMF are overseeing the long term structure building of Iraq's economy, and the stabilization of the currency is key. Also critical, per the agreement, is the independence of the Central Bank of Iraq (CBI) from the government. The CBI is solely responsible for any decision related to banking and currency. Those of you watching every Iraq government meeting thinking it had anything to do with the currency revaluing are very mistaken. The agreement is called the "Stand By Agreement" (SBA) and is between the Iraq Government, the Central bank of Iraq and the International Monetary Fund (IMF). The Agreement has been extended to July 24, 2012. The "Stand By Agreement" Section I-8 "The CBI will continue to be independent in the pursuit of its policy objectives. The CBI's monetary and exchange rate policies will continue to be aimed at keeping inflation in the low single digits and safeguarding international reserves. We believe that the policy of maintaining a stable exchange rate continues to be appropriate, as it provides a solid anchor for the public's expectations in an otherwise uncertain environment and in an economy with a still very low level of financial intermediation." Section II-8 "For purposes of monitoring under the program, a program exchange rate will be used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be converted in U.S. dollars at their respective SDR-exchange rates prevailing as of December 31, 2010, as published on the IMF's website." On March 3, 2011 a 'Letter of Intent' was issued from the Director of the Ministry of Finance (Iraq) and the head of the Central Bank of Iraq, to the Managing Director of the IMF. Iraq requested an extension of the Stand By Agreement five months to July 24, 2012. You can read the Letter of Intent and the complete agreement here- Program note issued March 2011 - December 13, 2011 Press release by IMF after their meeting with Iraq President Al-Maliki The proposed budget would allow the current Stand-By Arrangement (SBA) to continue to provide a safety net to the budget in case oil revenues were to fall sharply. "Promoting policies that lead to more inclusive growth is central to our engagement with Iraq. We are working closely with the Iraqi government to rebuild its essential economic institutions to help improve economic management and public service delivery. The current SBA offers a framework for Iraq's structural reform agenda, by promoting better public financial management, including the management of Iraq's hydrocarbon resources, and developing a financial sector that can support private sector activity and job creation. We look forward to further progress in these areas." This was spoken again in March 2012 in a press briefing by the IMF. I did verify with 'real' sources, Bloomberg and others, that an agreement has been reached with Kuwait on reparations from Saddam's invasion. The head of Kuwait and the UN secretary General were in Iraq for the Arab Summit. This is good news as far as the lifting of the UN sanction possibly in June. But it all comes down to the Stand by Agreement with the International Monetary Fund. The SBA dictates the Iraq Dinar at a value of 1170. Until the IMF supports a revalue, it won't happen. It doesn't matter all the other factors you hear people talking about, and chatter you hear. The SBA is extended until July 24, 2012. What happens then is up for prayer. Much depends on the growth and development of the banking structure and financial markets. It could be extended another 2 years, or it could be fall 2012. Don't take this date to mean a 'revalue' will happen on July 24. It's just a start of a decision date. So, now you all can shut down the 'dinar chat lines' on your computer and get on with your life. Love and Blessings, Robin Rowan
  15. people all over the world are allowed to make decisions: They choose to make good ones & bad ones for all the various reasons you can think of. I believe wealth comes to those who have a desire to be wealthy and disciplined enough to do the things necessary to become wealthy. It's all about personal choices.
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