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Wall Street Banks Obtain Market Data Ten Minutes Before Everyone
Butifldrm replied to Butifldrm's topic in Wall Street
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yota, you may not remember this post, but apparently we are in the same situation today as we were in 2011. I'm bringing forward a post from 2012 that explains just how dire things may be. Remember the stock market dropped 2000 points in a very short period during the last crisis. Everyone here needs to protect their assets and watch closely what may happen this week. yota691 yota691Enjoy the Ride... Platinum VIP 19,636 posts LocationEast Coast Posted 10 September 2012 - 07:49 AM Inside story of Obama’s struggle to keep Congress from controlling outcome of debt ceiling crisis View Photo Gallery — In the summer of 2011, the White House was embroiled in a battle with Republican leaders over legislation to increase the debt ceiling and avert the country from defaulting. By Bob Woodward, Published: September 8 President Obama summoned the top four congressional leaders to the White House on Saturday morning, July 23, 2011. The night before, House Speaker John A. Boehner had withdrawn from negotiations to raise the $14 trillion federal debt limit and save the government from a catastrophic default. “Nobody wanted to be there,” Boehner later recalled. “The president’s still pissed.” They had about 10 days left before the government would run out of money. Given the global importance of U.S. Treasury securities, failing to extend the debt limit could trigger a worldwide economic meltdown. Boehner said he believed that he and the others — Senate Minority Leader Mitch McConnell, Senate Majority Leader Harry M. Reid and House Minority Leader Nancy Pelosi — had a plan. He told Obama: We think we can work this out. Give us a little more time. We’ll come back to you. We are not going to negotiate this with you. Obama objected, saying that he couldn’t be left out of the process. “I’ve got to sign this bill,” he reminded the leaders as they sat in the Cabinet Room off the Oval Office. “Mr. President,” Boehner challenged, “as I read the Constitution, the Congress writes the laws. You get to decide if you want to sign them.” Reid, the most powerful Democrat on Capitol Hill, spoke up. The congressional leaders want to speak privately, he said. Give us some time. This was it. Congress was taking over. The leaders were asking the president to leave the meeting he had called in the White House. Fine, Obama said. Talk. Knock yourselves out. There is no pride of authorship here, just do it — if you can. How did it feel, I asked the president in an interview on July 11, 2012, to be voted off the island in his own house? “I’m not concerned about protocol,” he said. His concern was “an end run around the White House.” Before the meeting, without telling Obama, the four leaders had tentatively agreed on the framework of a deal. The congressional plan guaranteed that the debt limit would have to be revisited during the 2012 presidential campaign, and Obama was insisting that any agreement would have to take the country through the election. Around 10 p.m., Obama called Boehner, who was at dinner with friends. I am not going to sign a bill that requires me to deal with the debt ceiling a second time before the election, the president told him. He was furious. “Listen,” Boehner said he told Obama, “I understand it. All right? But you’re not going to have a choice. We’ve got an agreement.” The speaker recalled, “He was moaning and groaning and whining and demanding . . . threatening. . . . He was pretty desperate.” Obama again said he would veto such a bill. We’re too close to default to reopen the talks, Boehner said. Congress is going to move forward on its own. Asked recently about Boehner’s description of their late-night call, Obama said, “Listen, anybody who knows me knows I don’t moan, I don’t groan, I don’t whine.” He laughed, “I’m not desperate. I was very angry about how he had behaved, and more concerning was the fact that we were now only a few days from there literally being $5 billion left in the Treasury for the United States government.” Just $5 billion was about half a day’s worth of the federal government’s expenditures — closer to the wire than the public had been told. The president told his senior staff that the call with Boehner had led nowhere. “So we’ve got to figure out Plan B. Which is, how do we get out of this thing?” he said. The problem was that they did not have a Plan B. It was increasingly clear that no one was running Washington. That was trouble for everyone, but especially for Obama. Although running things is a joint venture between the president and Congress, a president has to dominate Congress — or at least be seen as dominating Congress. The last president to fold was George H.W. Bush, who gave in to Democrats’ demands that income taxes be raised in a 1990 budget deal. And Bush had been a one-term president. When Obama learned that the deal negotiated among the congressional leaders would require a two-step increase in the debt limit, he told Rob Nabors, the White House director of legislative affairs, “The one thing I said I actually needed, they didn’t get,” referring to Reid and Pelosi. “I needed this to go past the election, and they didn’t get it for me. This can’t work.” Obama sent word that he wanted the two Democratic leaders at the White House at 6 p.m. that Sunday, July 24. No reason was given. Reid arrived in the Oval Office with his chief of staff, David Krone. “Harry,” the president began, “I hear you have kind of an outline, a framework of something.” Reid began to lay out the two-step $2.7 -trillion debt limit extension, then stopped. He was not a details guy. “Well, let David just tell you what it is,” he said. It was highly unusual for someone to pass the ball so completely to a staffer. The 44-year-old Krone outlined the plan, including a secret Republican pledge to count $1 trillion in savings from the wars in Iraq and Afghanistan toward deficit reduction. That was surprising. Earlier, Boehner had not been willing to accept this accounting gimmick. “I don’t trust these guys,” the president said dismissively. Krone either would not or could not conceal his anger. “Wait a second,” Obama said, interrupting someone else who was about to speak. “I can tell David has something else to say.” “Mr. President, I am sorry — with all due respect — that we are in this situation that we’re in, but we got handed this football on Friday night. And I didn’t create this situation. The first thing that baffles me is, from my private-sector experience, the first rule that I’ve always been taught is to have a Plan B. And it is really disheartening that you, that this White House did not have a Plan B.” Several jaws dropped as the Hill staffer blasted the president to his face. “So I don’t have a lot of options, in the past 36, 48 hours, to put together,” Krone continued. “We’re supposed to be the ones that fend off an economic catastrophe. And what we find ourselves is now, with no deal, we’re going to have to root for the worst possible things to happen in order to prove to the Republicans that you cannot be so callous and let the debt limit expire. “That is a horrible position that we’re in,” Krone said. “And so this may not be the perfect deal, but it’s the only deal that we have on the table right now in the situation that we find ourselves.” Obama replied: “I understand what you think you’re doing. I’m not doing that. The one thing that we need to bring stability to this economy is not throwing the debt limit increase back into the political arena. I’m not doing that under any circumstances. So if that means that I’m not signing this bill, I’m not signing the bill.” After the meeting, Obama made a beeline for Krone. The others stepped back so the two could talk, but they still overheard the president’s words. “I’m sorry,” Obama said, putting an arm around Krone’s shoulder. “You didn’t deserve that. I know how hard you’re working, and I know we wouldn’t even have a chance without you.” Reid gave Krone a ride back to the Capitol. The majority leader was almost like a father to him. “You stood up to him,” Reid said. “He needed to hear it, and nobody was telling him.” Asked later about the meeting with Reid and Krone, Obama said, “What I said to them is, essentially, any short-term deal is not going to be acceptable. We can go back to the drawing board, but we’re running out of time. They need to understand we’re not going to do a short-term deal.” After more pressure from Obama, Reid split from the other congressional leaders. Later that night, he released a $2.7 trillion deficit reduction plan with a single-step debt limit increase that would last through 2012. Five days later, on Friday, July 29, by a narrow margin of 218 to 210, the House passed Boehner’s version of the proposal. It included the two-step procedure that the president adamantly opposed. In the White House at 10 later that night, Obama’s key advisers discussed the House vote. There was a chance the Senate Democrats would fold, because the fastest solution would be to pass the House bill and get out of town for their summer recess. If the bill managed to gain Senate approval, would the president really veto it? “You can’t veto,” Treasury Secretary Timothy F. Geithner told the group. “You cannot be responsible for default.” Anything had to be done to prevent it. Anything to preserve the global economy. “If he caves,” said David Plouffe, Obama’s senior political adviser, “it will have long-lasting political repercussions that we may never get out of. If we draw a line in the sand on something this important and cross it, we may never be able to come back.” Accepting a two-step deal would not work, Plouffe said. “We will not get credit for doing anything. We’ll look like we got bullied by a bunch of very unpopular and irresponsible people.” Geithner had to deal with the possibility that the House bill could reach Obama’s desk. “My recommendation to the president would be, we’ve got to sign this. If that’s what they offer us, we sign it.” Obama appeared unexpectedly at the door of William Daley, his chief of staff. “What’s going on? What are you guys talking about?” He knew, of course. They quickly recapped. Could I actually veto it? Obama asked, adopting his law professor manner. What would happen on the day of the veto? The day after? “It would have massive effects,” Geithner said. Treasury had to conduct a bond auction in the open market in about five days, the regular Tuesday auction, with settlement on Thursday. That first auction could be a kind of tripwire, setting off a chain reaction. The federal government couldn’t pay its bills. “Why would anyone buy U.S. bonds if it’s an open question whether we are going to have the authority to pay for them?” Another possible outcome, Geithner said, was perhaps worse. “Suppose we have an auction and no one shows up?” The cascading impact would be unknowable. The world could decide to dump U.S. Treasuries. Prices would plummet, interest rates would skyrocket. The one pillar of stability, the United States, the rock in the global economy, could collapse. “So,” the president said, “if we give $1.2 trillion now in spending cuts” — the amount in the House bill to get the first increase in the debt ceiling for about six to nine months — “what happens next time?” The Republicans would then come back next year, in the middle of the presidential campaign, and impose more conditions on the next debt ceiling increase. He could not give the Republicans that kind of leverage, that kind of weapon. It was hostage taking. It was blackmail. “This will forever change the relationship between the presidency and the Congress. “Imagine if, when Nancy Pelosi had become speaker, she had said to George W. Bush, ‘End the Iraq war, or I’m going to cause a global financial crisis.’ ” So, Obama said, they had to break the Republicans on this. Otherwise, they would be back whenever it suited them politically. They were out of options, Geithner said. The only one might be accepting the House bill, loathsome as it might be. “The 2008 financial crisis will be seen as a minor blip if we default,” he said. The president said, “The Republicans are forcing the risk of a default on us. I can’t stop them from doing that. We can have the fight now, or we can have the fight later on, but the fight is coming to us.” So, no, Obama said, he was not going to cave. Period. He said good night, got up and left. He was very agitated. Geithner thought there was one other consideration. He did not mention it to anyone, not even the president, but he had thought about it a great deal. It was not just that Obama faced an economic choice or a political choice. He faced a moral choice. The president should not put himself in the position of saying unequivocally that he would veto, Geithner concluded, for one simple reason: No one could be sure how to put the American or the global economy back together again. The impact would be calamitous. “And the people who would bear the pain of that would be the people less prepared,” Geithner told others, “less able to absorb that cost. It would be something you could not cure. It is not something you can come back and say, a week later, ‘Oh, we fixed it.’ It would be indelible, incurable. It would last for generations.” Obama never had to confront the veto question. A few days later, House Republicans dropped their insistence on the two-step plan. The final plan accepted a debt limit increase that would take the country through the 2012 presidential contest. It also postponed $2.4 trillion in spending cuts until early 2013. The long-term deficit crisis had not been solved, but merely put off, leaving the United States at the edge of the fiscal cliff, where it remains today. Rob Garver and Evelyn Duffy contributed to this report. http://www.washingto...50_story_1.html Read more: http://dinarvets.com/forums/index.php?/topic/128269-inside-story-of-obama’s-struggle-to-keep-congress-from-controlling-outcome-of-debt-ceiling-crisis/#ixzz2fdC7P3AH
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Pointing out that the issues of detainees increased with the decline in the security situation in the country, pointing to the need for increased office and magistrates because of the urgent need for them in certain areas of the country. Detect the presence of survey will be implemented next week, leading to a statement you need judicial authority of the new buildings and furniture, stressing acquisition of 86 piece of land during this period is constructed. and there are offers from Housing Minister to grant loans to employees of the judiciary in order to build housing units are distributed among all staff of the judiciary. part, called graduate new judge Ala Haider in an interview (morning) to speed up the Update old laws and bring them into line with the current reality, and pointed out the need to accelerate the issuance of new laws keep pace with development of the current phase with the need to create the appropriate conditions for the independence of the judiciary and to stay away from political matters. Sounds like Bribery to me! Mahmoud has been anything but independent from political matters.
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Association of private banks to mobilize domestic and international effort to promote the financial sector 09/22/2013 12:00 AM In order to achieve development bank BAGHDAD - Hussein ثغب Tamimi seeks Association of private banks in Iraq pursuit of financial sector development through mobilizing specialists in the matter banking domestic and foreign through the Conference of the Iraqi banking first that works to discuss paths advancement of the banking and mechanisms to contain all the determinants that negatively affect his career access to international banking services and reversible in our banks. conference the first Executive Director of the Association of private banks in Iraq, Abdul Aziz Hassoun revealed that the conference will be held for this purpose is the first of its kind, sponsored by the Prime Minister to discuss the determinants of development banking and mechanisms to overcome them, pointing out that the Iraqi economy is on the verge of phase of real growth in all his joints, and can not achieve positive results without banking services advanced keep up with what the world is witnessing progress in this area. reality of banking activity and added in an interview (morning) that the conference, which carries the slogan Iraqi banking sector reality and challenges will discuss working papers, counted Experts Shan banking and finance is very important, where it came from threads of different start from the reality of the banking activity in Iraq and then transmitted to the axis important is the environment legislative available in the country and governing the work bank and the requirements of a new rise banking services. banks and development and draw goldfinches that other hubs that are being discussed also represented banks and their role in development, environment and investment banks and the banking sector and international relations, pointing to move towards the subject of international institutions and their role in the development of the banking sector, and the mechanisms of action of modern banking activity as well as to discuss the possibility and practice within the framework of the concepts of Basel, also includes stations debate strategy of the banking sector, and the features of the strategy, will also be discussing a very important topic and holds the title of private banks in Iraq and the implementation of the program of financing small projects, pointing out that the last stations debate will carry the title role of foreign banks in the strategic target. attract capital and said Hassoun that Congress will work to make recommendations that will impact positively on the reality of business banking in the country, where he will stand all specialists banking work in both the public and private sectors to overcome the determinants of development banking, providing legislative environment appropriate for the advancement of banking services in terms of attracting capital and the necessary guarantees that encourage cooperation with international banks to open branches in the country, pointing out that the conference was called to him most of the ministers and members of the House of Representatives and the Governor of the Central Bank and Chairman of the Economic Committee in the Council of Ministers and professional associations, as well as businessmen who represent the private sector that has a responsibility to manage economic profile in the country after orientation towards an open market economy, which acknowledged constitutionally, as pointed Goldfinch to invite representatives of the World Bank and the International Finance Corporation, as well as the Union of Arab Banks and the Association of Arab Banks, stressing that this crowd has a lot of proposals that support the growth process banking desired in the country during the coming period. international effort specialist on Islamic banking and member of the governing body of the Association, Dr. Sadik Rashid Al Shammari said: that the domestic banking sector, both public and private sectors in dire need of effort banking International, pointing out that the period of interruption from communicating with field money Universal created a gap between Iraq and the countries of the developed world. added Shammari said in an interview (morning) that the organization of the Conference of the Iraqi banking first, which represents Forum internationally to attend a number of Arab Bankers and foreigners who have the ability to communicate with the Iraqi banking sector and provide technological support, after the stand at the most important requirements for the Advancement of banking communities.enactment of the said that Islamic banking will play an important role in the conference after the great successes achieved at the level of the world, and became represent a safer, will be the theme of Islamic banks in Iraq reality and challenges. He pointed out that the conference will prompt enactment of a law of Islamic banks, which now managed through the instructions issued by the central bank, noting that the law regulating the work of Islamic banking which has achieved great successes in the overall services provided by the specialized banks, but we need new products can be offered by Islamic banks . between the conference sheds light on the economic and social development through the development of the banking business, which can be reached through the necessary legislation and the adoption of advanced technology which proved its efficiency in the world. http://www.alsabaah.iq/ArticleShow.aspx?ID=54801
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The Supreme Judicial process of preparing a code of laws for the judiciary 09/21/2013 12:00 AM Graduated 91 judges, including 11 women, Baghdad, Ahmed Abed Rabbo, the Supreme Judicial Council is working on the preparation of a code includes special legislation regulating the components of the judiciary, according to a hierarchy with increasing the number of offices to investigate in order to speed up the resolution of the investigation with the detainees. President of the Council said Medhat al-Mahmoud during a ceremony attended by ( morning) was held at the headquarters of the Council last Thursday on the occasion of the 34th Session graduated, which included 90 judges, including 11 women ..The Supreme Judicial Council is preparing a code of legislation regulating the components of the judiciary, according to the hierarchy, explaining that the courts currently operate laws began in 1979 but the flexibility of the Iraqi judges and their view of the wide made of these laws to respond to the current situation., Adding that the current situation requires the development of the judiciary See Through experiences of developed countries in the field of justice, reminding that the council sent a number of Iraqi judges to the courts of Dubai being the most advanced in the technological aspects with the adoption of experiments typical cooperation with international organizations and the use of professors from developed countries to eliminate كايطاليا, England, France and the United States. demanded judges to expedite the resolution of the investigation with the detainees being of the Secretariat of the judiciary and away from sectarian and regional issues at sentencing and apply the law fairly, impartially and in a manner consistent with community service. Pointing out that the issues of detainees increased with the decline in the security situation in the country, pointing to the need for increased office and magistrates because of the urgent need for them in certain areas of the country. Detect the presence of survey will be implemented next week, leading to a statement you need judicial authority of the new buildings and furniture, stressing acquisition of 86 piece of land during this period is constructed. and there are offers from Housing Minister to grant loans to employees of the judiciary in order to build housing units are distributed among all staff of the judiciary. part, called graduate new judge Ala Haider in an interview (morning) to speed up the Update old laws and bring them into line with the current reality, and pointed out the need to accelerate the issuance of new laws keep pace with development of the current phase with the need to create the appropriate conditions for the independence of the judiciary and to stay away from political matters. http://www.alsabaah.iq/ArticleShow.aspx?ID=54720
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I know there are many things that we as the American people will never be privy too, but My heart is with these families! I can't even imagine and I pray to God I never have feel the pain and disgust they do! IMO, the whole thing stinks of a political save. I feel sorry for the souls who did this. They may never see atonement on earth, but they will when they face God. I pray for these families, I'll let God take care of the rest.
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Thanks Socal. The Chairman of the Association of private banks Abdul Aziz Hassoun that the Iraqi Central Bank pumped every month six trillion Iraqi dinars paid salaries and agora for workers and that this money supply huge spend a consumer rather than encouraging owners to save for example, which dropped a relatively him ten years ago, despite the large increase in income . . Member of the Finance Committee in the House of Representatives Abdul Hussein al-Yasiri confirmed that a conference will be held on 28 and 29 September to listen to the demands of private banks and parliament is heading towards modify the basic material in the Banking Act to serve the interests of the private banking activity. I think this may be more control over the CBI or could this be progress toward the free market economy. WE will see.
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Appendix: Economic Reform Act will support the Iraqi economy 21-09-2013 01:01 PM Baghdad (news) .. He specialized in economic affairs as beautiful, that the law of economic reform will work to diversify the income of the Iraqi National rather than relying on oil revenues only and will support the Iraqi economy. said Jamil (of the Agency news): The law of economic reform will work to get rid of projects stalled unproductive and privatization some of them and make them productive as a sector of tourism, agriculture, industry and others. said: that there is a reservation of some political blocs to this law because a lot of corporate officers parked will be retiring and remain without any action, stressing the need for a law pension unified rewarding for retirees and provide jobs for the unemployed in facilities non-productive government will turn to the private sector. has hopes of some economists that the economic reform law is a significant driver of Nhodd the national economy in terms of identifying heading towards a free market economy through the participation of the private sector. / End / 5. b. PVC / - See more at: http://www.ikhnews.com/index.php?page=article&id=101780#sthash.kpTqluAi.dpuf
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Dutch King announces the end of the Welfare State
Butifldrm replied to FreckledFuzz's topic in World Economy
Wow, thank u for this insight. Take Heed America! For this is our Future! God save us from Obamacare and the socialist left! -
Karl Rove, the Bernie Madoff of the Republican Establishment, Gets Pimp-Slapped by Tom Delay on Defunding Fight Friday, September 20, 2013 17:41 0 (Before It's News) In all of American history, has there ever been a bigger campaign fundraising failure than Karl Rove? Look at it only in terms of dollars wasted during a single election cycle. In 2012 alone, Rove torched $400 million on losing candidates, if Donald Trump’s estimate is accurate. As if that record wasn’t enough, Rove’s bizarre attacks on conservative candidates helped suppress the vote. Millions of members of the conservative base, discouraged by a squishy moderate presidential candidate and lack of a coherent attack on a failed president, boycotted the 2012 election. Now Rove is attacking principled conservatives like Ted Cruz and Mike Lee; these are men who have actually taken a stand to stop the disastrous onset of Obamacare. As October 1st nears, hospitals are shedding jobs, full-time workers are being transitioned to part-time, and those with coverage are losing their coverage. State exchanges aren’t ready for prime time, and the entire system is headed for a very ugly collapse. This isn’t a game! This is about right and wrong! This is about preserving the American Republic! And Rove attacks those who are standing with the American people, claiming the threat of a government shutdown over defunding Obamacare is a losing proposition. As usual Rove is dead wrong. During the last government shutdown, when a conservative House smacked Bill Clinton around and forced him to balance the budget, Delay was the House Majority Whip. He was there. Rove was not. He knows what transpired. Rove does not. Interviewed on yesterday’s Mark Levin show, Delay patiently explained to listeners — using small words for Rove and his apparatchik Dana Perino — the awesome benefits the Republicans accrued by standing up to Bill Clinton. Levin: Now we’re fighting over principle in the House [regarding defunding Obamacare] and your Senator is really one of the bright spots. He’s one of the leaders of the Constitutional conservatives and he’s under assault and not just by the Left, Tom Delay, not just by the Democrats, but by Republicans! What do you say about that? Delay: I’m saddened by the Republicans attacking him, he’s doing what he thinks is right, frankly, he’s doing the right thing. I expect it from the Democrats, I mean the House changed their position, so he’s having an impact. Levin: And you can’t win all these fights, can you? Delay: No, you can’t win them all, but you pick the ones you can win. In fact, you gotta fight! You gotta fight! …Not only is Obamacare worth fighting over, it is a perfect political situation! It’s great politics! Americans want Obamacare out of there. And when you can set up a situation where the Continuing Resolution, that funds the federal government, but doesn’t fund Obamacare… then the whole issue is on Obamacare, where it needs to be! Levin: Well, I’m troubled by so-called conservative media, too… it’s like they’re waging war against the conservatives… they’re waging war against the base! That’s kind of crazy, don’t you think? Delay: I have to tell you, I’ve been out there in the real world. And if the Republicans don’t energize the base, they’re going to have a hard time next year in the elections. Nothing energizes the base like a good fight — and a good fight for the right reasons. I’ve got to tell you, I was with a bunch of people that aren’t connected to [DC] when it was reported that the House was moving in a different direction [to defund Obamacare in the Continuing Resolution]… and I’ve never seen such energy in these people… Levin: What happened when the federal government shut down in 1995? Who won that? Delay: It was the most important thing we ever did. I was there, I was the Majority Whip. We had sent the president [Clinton] a Continuing Resolution; we had cut 100 agencies, offices and programs under the Contract With America. And, of course, he didn’t like that. He vetoes the bill and shuts down the government. It was the best thing we ever did. And we were 21 days fighting, which gave us the opportunity to explain to the American people, to tell our story, and the most important part was we took on the president. And we used the leverage of the Constitutional power of the purse. And, unfortunately, Bob Dole went down on a Sunday afternoon and opened up the government, but even Clinton admitted that if we’d lasted one more day, he would have caved. But the point is: we sent a signal to the President. This new majority will take you over the cliff. We’re crazy. And the result of that was: for six years, Bill Clinton did not get to sign one major bill he initiated. Everything he signed — he vetoed welfare reform twice and the balanced budget twice — but then he took credit for them, but everything he signed was generated by the power of the purse out of the House of Representatives. And the politics was great! I don’t know where they [Rove and company] get that we took it on the chin as Republicans because we stood up and fought. We gained two or three Senate seats in the next election and we only lost a few House seats [retaining a huge majority]. Levin: Yep, we have Republicans [like Rove] rewriting history and it’s a stunning thing. As for Ted Cruz, the distinguished Senator from Texas has offered to debate Rove on his tactics for defunding Obamacare. Suffice it to say that Cruz will hear only crickets because Rove is a complete failure. http://beforeitsnews.com/opinion-conservative/2013/09/karl-rove-the-bernie-madoff-of-the-republican-establishment-gets-pimp-slapped-by-tom-delay-on-defunding-fight-2718506.html
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TBomb, Rayzur, The house can defund Obama Care, but the Dems own the Senate. Obama knows this and can sign this bill into effect once it passed in the Senate. There is talk of a Filibuster among Republicans, among those Rand Paul, but, we are in the Devils clutches with this one. Is Ted Cruz throwing the GOP under the bus? The Texas senator is pushing his fellow Republicans into an unenviable corner By Jon Terbush | September 19, 2013 inShare 6 The sky's the limit for Ted Cruz's political ambitions. (Getty Images/Drew Angerer) A fter months of saber-rattling, House Republicans on Wednesday announced they would tie a government spending bill to a vote on defunding ObamaCare after all. The federal fiscal year ends September 30, leaving Congress with two weeks to pass a budget bill or trigger a government shutdown. Tea Party Republicans, most prominently Sen. Ted Cruz (R-Texas), pushed for the tandem vote, and now they have their wish. Only one problem: The bill has no chance of becoming law. Sure, it can pass the Republican-controlled House, but it is destined to die in the Democratic-controlled Senate. Cruz even conceded that point Wednesday, saying in a statement that Senate Majority Leader Harry Reid (D-Nev.) "will no doubt try to strip the defund language from the continuing resolution, and right now he likely has the votes to do so." Under a likely scenario, the Senate would then send a bill sans the defunding language back to the House, where Republicans would have the choice of spiking it or agreeing to give up the fight and simply fund the government. And should House Republicans cave, Cruz is prepared to blame them for failing to defeat ObamaCare. "House Republicans must stand firm, hold their ground, and continue to listen to the American people," he continued in his statement. See what he did there? For Cruz, the defund strategy is a win-win. He can hold it up to conservatives as proof of his commitment to their goal of killing ObamaCare, while dumping the blame, should the House ultimately pass a clean budget bill, squarely on weak-kneed Republicans. That leaves House Speaker John Boehner (R-Ohio) in an excruciating bind. Afraid of riling up the Right, Boehner has had to go along with a doomed plan and risk shutting down the government in the process — which, in turn, could come back to bite the GOP when voters blame the party for needlessly bringing government operations to a grinding halt. A government shutdown has the potential to be politically disastrous for the party. A CNN poll last week showed that 51 percent of Americans would blame the GOP in the event of a shutdown, versus 31 percent who would blame President Obama. Already, Cruz's effort has triggered GOP infighting, with House members privately fuming about his interference. http://theweek.com/article/index/249869/is-ted-cruz-throwing-the-gop-under-the-bus Don't ask me how that happened!
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Hum, very interesting TBomb. The CPA laws one by one have been iradicated, in the Iraqi constitution. You are right, the coincidence of the eradication of these laws being posted in the Gazette, so close to this meeting could very much mean something. By, far infrastructure is one of the most important laws we need to see passed. Iraq needs to make a lot of money off of this and thru taxation.
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Parliamentary Committee to resolve the broken laws 21/9/13 12: 00 am State law is likely to repatriate them because of political differences Baghdad, shaimaa Rasheed A House of representatives Special Committee to agree on the broken laws in an attempt to pass it before the end of the current legislative session. This comes at a time when the State of law bloc likely migrate most of controversial laws to the next parliamentary session in the absence of agreement due to the ongoing political conflict. Despite encounters near out of the political crisis with the National Congress of which he signed documents and social peace on Thursday, Member of State of law, said Jawad most broken laws still disagreement around has not been resolved, any (maintain). Hassan pointed to the lack of debate that deputies currently preoccupied by the election law. Broken laws are highlighted: the Federal Court Act and the Amnesty Act and the accountability and Justice Amendment Bill and the amendment to article 4 terrorism agreed in meetings of the Committee of five, as well as retirement parties and oil and gas. Hassan said in a statement to news network» information»: «there are laws still contain constitutional violations. We refuse to vote the law violates the Constitution and reject the Sejm passes laws such as the law of the Federal Supreme Court, ruling out that these laws are passed by the majority of a rejection of most blocks, adding that most of the broken laws are posted to the parliamentary session, if consistent blocks. In turn, the decision of the House of Mohammed al-Khalidi in an interview for the News Centre network» information all political blocs to careful decisions and avoid cramping consensus». He also urged Iraq to "seize the opportunity for new initiatives between the political blocs to calm the atmosphere and the adoption of laws that concern citizens and supports his social situation». The most controversial laws in the House of representatives approved crashes because of political differences, some will be adopted, with the others being deported for the next parliamentary session, such as the Federal Court and legal parties, parliamentary sources said. MP Ahsan Al-Awadi, was likely also post the most important laws that still disabled inside the House to the next parliamentary session legislation because of continuing political differences among the parliamentary blocs. Awadi said in a press statement: "many of the laws into Parliament disrupted by political differences despite the formation of a number of committees, composed of all the blocks in order to discuss the broken laws, but it did not reach satisfactory solutions to pass such laws. The adoption of laws or not depends on the report of committees formed, expecting that most laws are posted to the next parliamentary session. this image, parliamentary sources revealed especially for sourcing Centre for "Iraqi media network, a parliamentary Committee headed by first Deputy Chairman of Parliament Qusay Al-Suhail comprising representatives of parliamentary blocs to initiate action to resolve the issue of important laws that are controversial among parliamentary blocs. http://www.alsabaah.iq/ArticleShow.aspx?ID=54713
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BIS: The World's most powerful Bank announces the crash
Butifldrm replied to FreckledFuzz's topic in World Economy
As Obama Crumbles, More Voices Are Heard for Glass-Steagall September 18, 2013 • 4:35PM by Dennis Small The political and psychological meltdown of President Barack Obama is proceeding with breathtaking speed, greatly strengthening the prospects for forcing through the adoption of Glass-Steagall in the short run. The American population is now increasingly rejecting not just Obama, but what has been the trend of decades, ever since the assassination of President John F. Kennedy. Reflective of the growing cracks in the British Imperial power structure are the adoption of the U.S.-Russian framework for Syrian chemical weapons disarmament, ten days ago; the withdrawal of Glass-Steagall-hater Larry Summers's name from contention to head the Federal Reserve, two days ago; the cancellation by Brazilian President Dilma Rousseff of her scheduled state visit to Washington, despite a personal phone call from Obama, because of the NSA spying revelations, one day ago; and a flurry of Congressional and other statements in support of Glass-Steagall on the fifth anniversary of the 2008 financial crisis, today. Rep. Marcy Kaptur (D-OH), the original sponsor of H.R. 129, delivered a short speech on the House floor today during morning business, in which she urged her colleagues to co-sponsor her "Return to Prudent Banking Act," and called on the Administration to prosecute those responsible for the crisis (see separate slug). Sen. Elizabeth Warren (D-MA) penned an op-ed in the Boston Globe today, headlined "The 21st Century Glass-Steagall Act would reduce the risk of another crash," which she then sent out by mass e-mail to her contact list. While containing a silly tip-of-the-hat to Dodd-Frank as helping to prevent future crises, she does outline how Glass-Steagall would "dismantle the behemoths" and make sure they no longer "hold our economy hostage." Rep. Tulsi Gabbard (D-HI) issued a media release decrying the fact that, five years after the crisis, "the biggest banks are even bigger," and notes that Gabbard "is a long-time proponent of common-sense banking reform, including a restoration of the Glass-Steagall Act," and "also co-sponsored H.R. 129." And Robert Reich, who has not always been the most forceful in his support for Glass-Steagall, wrote a syndicated column (published in the Kansas City Star, among others) where he hit hard for Glass-Steagall: "The gambling addiction of Wall Street's biggest banks is more dangerous than ever... Legislation is needed, however, to resurrect the Glass-Steagall Act that once separated commercial banking fromcasino capitalism... So forget the Volcker rule. Just bring back Glass-Steagall. Congress hosuld have an up-or-down vote on whether to bring it back, so that American can see for itself which of our representatives are in the pockets of the Street." At the same time, the Anglo-Saudi terror apparatus is taking major hits from LPAC's exposure campaign in Washington and nationally, which is producing strong interest in the censored 28 pages among Congressmen on both sides of the aisle, as well as howls of protest from the defenders of that apparatus, including Congressional aide Ken Cummings's strange bedfellows. Now is the time to hit them even harder, and push Glass-Steagall through to adoption, as the first step towards Thermonuclear NAWAPA XXI. See: Kaptur Calls for Members to Co-sponsor H.R. 129—Transcript of Speech on House Floor http://larouchepac.com/node/28187 Glass–Steagall legislation is four provisions of the U.S. Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms,[1][2] along with proposed similar provisions in the U.S. and elsewhere. Starting in the early 1960s federal banking regulators interpreted provisions of the Glass–Steagall Act to permit commercial banks and especially commercial bank affiliates to engage in an expanding list and volume of securities activities.[3] By the time the affiliation restrictions in the Glass–Steagall Act were repealed through the Gramm–Leach–Bliley Act of 1999 (GLBA), many commentators argued Glass–Steagall was already “dead.”[4] Most notably, Citibank’s 1998 affiliation with Salomon Smith Barney, one of the largest US securities firms, was permitted under theFederal Reserve Board’s then existing interpretation of the Glass–Steagall Act.[5] President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate."[6] Many commentators have stated that the GLBA’s repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the late-2000s financial crisis.[7][8][9] Some critics of that repeal argue it permitted Wall Street investment banking firms to gamble with their depositors' money that was held in affiliated commercial banks.[10] Others have argued that the activities linked to the financial crisis were not prohibited (or, in most cases, even regulated) by the Glass–Steagall Act.[11] Commentators, including former President Clinton in 2008 and the American Bankers Association in January 2010, have also argued that the ability of commercial banking firms to acquire securities firms (and of securities firms to convert into bank holding companies) helped mitigate the financial crisis.[12] The entire Banking Act of 1933 or 1933 Banking Act is often referred to as the Glass–Steagall Act.[13] Over time, however, the term Glass–Steagall Act came to be used most often to refer to four provisions of the 1933 Banking Act that separated commercial banking from investment banking.[2] Congressional efforts to “repeal the Glass–Steagall Act” referred to those four provisions (and then usually to only the two provisions that restricted affiliations between commercial banks and securities firms).[14] Those efforts culminated in the 1999 Gramm–Leach–Bliley Act(GLBA), which repealed the two provisions restricting affiliations between banks and securities firms.[15] http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act -
BIS: The World's most powerful Bank announces the crash
Butifldrm replied to FreckledFuzz's topic in World Economy
Worldwide credit excess 'worse' than pre-GFC: expert Date September 17, 2013Ambrose Evans-Pritchard 'This looks like to me like 2007 all over again, but even worse': William White. Photo: Supplied The Swiss-based 'bank of central banks' says a hunt for yield is luring investors en masse into high-risk instruments, "a phenomenon reminiscent of exuberance prior to the global financial crisis". This is happening just as the US Federal Reserve prepares to wind down stimulus and starts to drain dollar liquidity from global markets, an inflexion point that is fraught with danger and could go badly wrong. "This looks like to me like 2007 all over again, but even worse," said William White, the Bank for International Settlement's former chief economist, famous for flagging the wild behaviour in the debt markets before the global storm hit in 2008. "All the previous imbalances are still there. Total public and private debt levels are 30 per cent higher as a share of GDP in the advanced economies than they were then, and we have added a whole new problem with bubbles in emerging markets that are ending in a boom-bust cycle," said Mr White, now chairman of the OECD's Economic Development and Review Committee. Advertisement The BIS said in its quarterly review that the issuance of subordinated debt -- which leaves lenders exposed to bigger losses if things go wrong -- has jumped more than threefold over the last year to $US52 billion ($55.87 billion) in Europe, and jumped tenfold to $US22 billion in the US. The share of "leveraged loans" used by the weakest borrowers in the syndicated loan markethas jumped to an all-time high of 45 per cent, ten percentage points higher than the pre-crisis peak in 2007-2008. The BIS said investors are snapping up "covenant-lite" loans that offer little protection to creditors, as well as a form of hybrid capital for banks known as CoCos (contingent convertible capital instruments) that switch debt into equity if bank capital ratios fall too low. While CoCos help shield taxpayers from losses in a banking crisis by leaving private creditors with more of the risk, the recent appetite for such an instrument is also a warning sign. The BIS said interbank credit to emerging markets has reached the "highest level on record" while the value of bonds issued in off-shore centres by private companies from China, Brazil and other developing nations exceeds total issuance by firms from rich economies for the first time, underscoring the sheer size of the debt build-up in Asia, Latin Africa, and the Mid-East. Claudio Borio, the BIS research chief, said the ructions in emerging markets since the Fed turned hawkish in May is a warning to investors that they must tread with care. "Global financial markets have reacted very strongly. If there were any doubts about the strength of international policy spillovers, they have now been put to rest," he said. Mr Borio said nobody knows how far global borrowing costs will rise as the Fed tightens or "how disorderly the process might be". "The challenge is to be prepared. This means being prudent, limiting leverage, and avoiding the temptation of believing that the market will remain liquid under stress, the illusion of liquidity," he said. The BIS enjoys great authority. It was the only major global body that clearly foresaw the global banking crisis, calling early for a change of policy at a time when others were being swept along by the euphoria of the era. Mr White said the five years since Lehman have largely been wasted, leaving a global system that is even more unbalanced, and may be running out of lifelines. "The ultimate driver for the whole world is the US interest rate and as this goes up there will be fall-out for everybody. The trigger could be Fed tapering but there are a lot of things that can go wrong. I very am worried that Abenomics could go awry in Japan, and Europe remains exceedingly vulnerable to outside shocks." Mr White said the world has become addicted to easy money, with rates falling ever lower with each cycle and each crisis. There is little ammunition left if the system buckles again. "I don't know what they will do: Abenomics for the world I suppose, but this is the last refuge of the scoundrel," he said. The BIS quietly scolded Bank of England Governor Mark Carney and his eurozone counterpart Mario Draghi, saying the attempt to use "forward guidance" to hold down long-term rates by rhetoric alone had essentially failed. "There are limits as to how far good communications can steer markets. Those limits have become all too apparent," said Mr Borio. Telegraph UK http://www.businessday.com.au/business/banking-and-finance/worldwide-credit-excess-worse-than-pregfc-expert-20130917-2tw92.html -
BIS: The World's most powerful Bank announces the crash
Butifldrm replied to FreckledFuzz's topic in World Economy
FF, thanks for finding this. You are right this is the most important news of the Day! -
Barzani: In the past, we were busy in maintaining national identity, but today we are in the process of drafting and preparing strategic plans for sustainable development 20-09-2013 | (Voice of Iraq) - Add a comment - Erbil: the presence of Barzani and Prime Minister of the Kurdistan Region, established by the Ministry of Planning in the Government of the Territory, Thursday, 19.09.2013 morning, a private ceremony in the capital Arbil to put up a report was prepared in cooperation with international organizations and agencies competent, which reviewed the statistical ratios in detail about the situation of the Kurdistan Region with regard to the "per capita income, water, electricity, tourism, unemployment, health, compared to the proportion of births and deaths, and education." During the ceremony, which was held at the Hall of the martyr Saad Abdullah in Arbil, in the presence of a number of ministers and officials in the government of the region and representatives of foreign countries and non-governmental organizations and agencies of the United Nations. Shirvan happiest feet and Undersecretary of the Ministry of Planning brief definition about these decrees, which was a private research and future plans for the Kurdistan Region by the World Bank Corporation (RAND) of America. He then introduced Dr. Ali Sindi explanation years on such research, which dealt with the situation of living for the citizens of the Kurdistan Region by per capita income and standard of living of the individual, the family, the situation of water, electricity and Asaahh and unemployment, health, compared to births, deaths and education, also reviewed the development vision in the Kurdistan Region for 2020. It also provided all of the Sokol Conde responsibility of the United Nations Office in Kurdistan Region and the Ms. Rubin mile representative of the Rand Corporation of America, كلماتهما during these decrees. Was followed threw Barzani and Prime Minister of the Kurdistan Region word, describe which of these decrees inflection point and a shift in thinking and working style of the Kurdistan Regional Government, describing an important step towards making the typical institutional work more civilized and establish a system for the management of the country. As described by the beginning of the base for future work. Barzani pointed out that the political system needs to statistical information and explain the comprehensive and in order for the government policy formulation and preparation of interest and thus be implemented through the use of available resources and mechanisms to determine the strong aspects and work on the weak aspects of improving the performance of the government. He also stressed that it is necessary for any government to have information and fully informed on all economic sectors of the country and other sectors; to be able to prepare and draw a sound policy for onshore sectors, health and economic development and to ensure the provision of services. The Prime Minister expressed p thanks and appreciation to the Minister of Planning and other relevant ministries and its staff for their tireless efforts and work together continuously with international agencies and organizations where they were able to reach these results detailed in this report in a scientific manner. In the axis explained Barzani that now is the time to be studies and comprehensive research source to draw the policy of the Government of the Kurdistan Region and become a road map for the programs sustainable for the government, because the Kurdistan Region has spent many years in the struggle to survive and maintain a national identity, and at that stage it was not it is possible to think of a plan long-term sustainable or conduct such studies, but now in the light of stability and security, compatibility and teamwork, we can consider in detail boiling Kurdistan Region and know after 5 or 10 more years on the fate of the region and in any direction will go. The head of the Government of the Territory this step as a starting point for a new phase in the system of governance quality, on the basis of institutional and depending on the policy and program reflects the strategy of sustainable development based on scientific foundations, calling on all the relevant ministries and provinces of the region; to take advantage of all this research and the results presented today in These decrees. He also stressed the need for programs to be government ministries and complementary to each other and walk side by side. And called on the Ministry of Planning that you provide all the statistical information in its possession to all relevant agencies operating in the framework of the Kurdistan Regional Government institutions to take advantage of them and reliable sources of information during the course of employment. At the end of the ceremony the Prime Minister sent a letter thanks and Tkadirovernmh the Kurdistan Region to all persons and international actors who have worked for the success of this project. Read more: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&u=http://www.sotaliraq.com/mobile-news.php%3Fid%3D116940&usg=ALkJrhg54llRulGuky7p_zzgZKpNufbvzQ#ixzz2fOeRLmRm
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Iraq holds the "Arab Spring" responsibility "sliding" of the region towards polarization "sectarian" and calls on Washington to a partnership relationship 19-09-2013 | (Voice of Iraq) - Add a comment - Range Press / Baghdad Accused the Iraqi ambassador in Washington DC on Thursday, al-Qaeda to "push Iraq toward civil war," While counting that both Baghdad and Washington are facing an "enemy one is that organization," Download "Arab Spring" responsibility "vacuum" that led to the "a slide toward sectarian polarization, regional and religious in the region," and called because the relationship between the two countries on the basis of "partnership" and not "emergency events." This came during an interview with the Ambassador Lukman Philly, at the Brookings Institution Brookings Institution American political and economic research, in Washington, DC, according to the newspaper The Washington Times, The Washington Times, and seen by (Presse term). Said Feily, according to the newspaper, "The last few months have seen increased rates of violence in Baghdad and other areas at a time when the organization is trying Qaeda and allied groups pushed Iraq toward civil war." He held the ambassador, according to the Washington Times, "revolutions and uprisings that swept the countries of the Arab world since 2010 last year, the responsibility of re-emergence of extremist forces and sectarian, having dropped systems that remained stuck in power than the latest Vrga in their countries," adding that "what seemed at first glance Kahtgajat and slid democracy uprisings, unfortunately, toward sectarian polarization, regional and religious. " He Feily, the newspaper said, that "the security situation in Iraq affected by these events and developments, especially the war and the conflict in neighboring Syria," noting that "Iraq and the United States are facing an enemy one is al Qaeda, which is trying to block progress in Iraq and the confiscation of the uprising against President Bashar al- Assad. " The Washington Times said, that "al-Qaida in Iraq had been merged with the Islamists, who are fighting the Assad regime in Syria, and in April merged organization of the Islamic State of Iraq terrorist front with the victory and form a new organization called the Islamic State in Iraq and the Levant." He called the Iraqi ambassador, as reported by The Washington Times, Washington because "to consider its relationship with Baghdad as partners and not rely on emergency events," returned that "the United States failed to Iraqi aware of the concept of its security emergency." The Philly, according to the newspaper, that "the Iraq conflict against al-Qaeda is not a political dispute, but a struggle and survival," and expressed his belief that "it is important for people to appreciate it too." Experiencing rates of violence in Iraq since, the beginning of February 2013, a rise steadily, as stated the United Nations Mission in Iraq, in the first of June 2013, that 3442 Iraqis were killed or injured during last May, operations violence in different parts of the country, while showed (UNAMI), the beginning of last July, that the outcome of violence in Iraq reached during last June about 2532 people, and stressed that Baghdad was "most affected" by the violence, as revealed Mission International Organization, on the first of August last, that the outcome of violence in Iraq in July last year, amounted to 3383 people dead or wounded, and announced UNAMI, in the first of September the current 2013, that the outcome of violence in Iraq in August last, reached 804 dead and 2030 injured in Baghdad and the provinces, indicating that the dead included 106 members of the police, while the number of wounded 195 police forces. And on the accused officials Americans Iraq as "allow Iran to transfer weapons across the airspace of the Syrian regime," quoted by the Washington Times as ambassador Feily as saying that "the Iraqi government refuses originally any military assistance to the Assad regime," pointing out that "Baghdad asked the United States to assist them in building system unified air defense which can protect its airspace and prevent them from being used as an area for the transit of arms to Syria. " According to The Washington Times, the Iraqi ambassador in Washington, said that "dialogue is the only solution to resolve the crisis in Syria, and that the attempt to launch a military strike Links to the Assad regime will not succeed," stressing that "no one should be wondering about the scenario that will be followed by ? ". It is noteworthy that the Iraqi prime minister, Nuri al-Maliki, launched in (fourth from the current September 2013), a new initiative to resolve the crisis in Syria, the most prominent points of an immediate ceasefire, the withdrawal of foreign fighters, and the formation of an interim government are supporting Bashar al-Assad's government and the opposition. He also stressed al-Maliki during his weekly, on Wednesday (18 September now), that the initiative of a peaceful solution proposed by Iraq to end the crisis in Syria, "found its way when the international community," noting that a lot of countries, "interacted with them and we are ready to play positive and effective in the management of dialogues in order to save the civil peace in Syria and the region and their impact on Iraq. " He also states that the Western powers, especially the United States, abandoned military strike against the Assad regime, currently at least, against the backdrop of popular opposition in their countries, and the efforts of Russia, which has succeeded in persuading those forces, as well as the Syrian regime to accept disarm Syria chemical under the supervision of international. Experiencing Syria, since (15 March 2011 the past), a protest movement wide popularity began to raise demands for reform, democracy and ended claim fall of the regime after encountered violently bloody unprecedented by Syrian security forces and what is known as "Shabiha", resulting in even today fall Hundreds of thousands of deaths and the same number of wounded and detainees, as well as more than two million refugees to neighboring countries and six million people displaced inside the country Read more: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&u=http://www.sotaliraq.com/mobile-news.php%3Fid%3D116902&usg=ALkJrhh282fixS7QKmXTBrkOIVM5M1kjzQ#ixzz2fNhvGpGO
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