Nadita

Fri, December 12 1 / December 2014 23:26 [Follow-where] Finance Minister Hoshiyar Zebari said on Friday that “the budget bill rate will be put in a cabinet meeting held next Sunday.” The working Council of Ministers on the study of the preparation of the draft budget law, which was scheduled to be approved in its meeting on 29 of last month but postponed that the sharp drop in global oil prices, which fell below $ 63 what is causing the rise in disability rates, with the formation of a ministerial committee shall conduct a comprehensive review of public expenditure of the State; to come up with recommendations to address and reduce the projected deficit in the budget, “followed http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/inews.php%3Fid%3D3321830&usg=ALkJrhjCGR_u2HtjllS2pStsmZsr07qJWg –

Fri, December 12 1 / December 2014 23:26 [Follow-where] Finance Minister Hoshiyar Zebari said on Friday that “the budget bill rate will be put in a cabinet meeting held next Sunday.” The working Council of Ministers on the study of the preparation of the draft budget law, which was scheduled to be approved in its meeting on 29 of last month but postponed that the sharp drop in global oil prices, which fell below $ 63 what is causing the rise in disability rates, with the formation of a ministerial committee shall conduct a comprehensive review of public expenditure of the State; to come up with recommendations to address and reduce the projected deficit in the budget, “followed http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/inews.php%3Fid%3D3321830&usg=ALkJrhjCGR_u2HtjllS2pStsmZsr07qJWg –

Yes I know, chess.. I am just trying to give an example prolly not a good one I have done a few of those lol

A little bird whispered something else in my ear lol

This is my short version of Millionday;s roundtable posted in Recaps this afternoon. My eyes might not be that good, but I see rate in budget. My guess is Iraq will do things backward than what we think : open the budget, announce the rv and going after ISIS like you never see it before. The cloud is building up for hurricane. And again, this is my opinion on a bored Friday afternoon From Millionday's round table very encouraging Millionday: WELCOME TO ROUNDTABLE IT IS A GOOD ONE Millionday: TRUST IN THAT Millionday: I AM EXCITED TO BRING THE NEWS TODAY Millionday: WE HAVE SOMETHING WE HAVE NOT SEEN TO DATE SO YOU WILL HAVE A GREAT TIME TODAY SMILE Millionday: WE ARE GOING TO HAVE A GREAT NEWSTIME I CANT WAIT TO SHOW YOU WHAT I HAVE Millionday: WHOOOPOW Millionday: OK HERE WE GO NOW THIS IS SOMETHING WE HAVE NOT SEEN SO READ EVERY WORD Millionday: Said in a parliamentary finance committee member, said that "the rest of the oil-producing provinces dues amounts of petro-dollar exchange rate will be after the approval of the federal budget for 2015". Millionday: NOTE -- THE AMOUNT OF THE EXCHANGE RATE WILL BE AFTER THE BUDGET SO OBVIOUSLY IT HAS TO DO WITH BUDGET FOR THIS YEAR Millionday: The Council of Ministers approved in its meeting on the first Tuesday, "the Ministry of Finance release of the remaining half of the petro-dollar allocations approved by the Council of Ministers in the previous session in Basra province. He said Jabbar al-Abadi MP for the province of Basra told all of Iraq [where] that "part of the service and investment projects awaiting government Basra fulfill its financial obligations, and the disbursement of these receivables from petrodollars will move the wheel of development in the province." Millionday: NOTE -- THE COUNTRY`S DEVELOPMENT IS THE DIRECTION WE ARE WATCHING AND THEY ARE GOING FOR THE NEW YEAR Millionday: MY FAVORITE PART >>>>>>>> He pointed out that "the amount of petro-dollar exchange rate will be after approving the budget." Millionday: SMILE Millionday: SO THERE WE HAVE UNTIL TONIGHT AT NEWSTIME WHICH IS LOADED AT 730 EST Millionday: WONDERFUL NEWS OUT THERE AND THEY HAVE STATED THAT THE EXCHANGE RATE FOR PETRO WILL BE WITH/AFTER THE BUDGET – SO WE KNOW THAT ALL CURRENCY HOLDS THE SAME VALUE NO MATTER WHERE IT IS SO WE SHALL SEE WHAT WE SEE TONGIHT ON THE BUDGET WORK -- Millionday: VERY EXCITING NEWS Millionday: VERY Millionday: CANT WAIT TO SEE WHAT TO BRING YOU TONIGHT AND ROBIN WILL BE BACK AND RUDIE WILL BE HERE AND IT WILL BE A WHOPPER OF NEWSTIME

Hammer If you are swapping your dinar to gold.. possibly you don't pay taxes because it's one investment to the next investment.. but what you will be paying is the spot price for gold will be higher than gold dealers plus the dinar rate can be lower than market rate. Which still be a good exchange, if you don't need to pay taxes on it. You can always sell it little by little when you need money and a win win situation Do not quote me on this one, I am no financial expert but this is my guessing don't believe everything I say, I am a story teller lol always check with your accountant or tax attorney. In real estate, you can do 1031 exchange when you sell your home and roll the profit to the next house without paying any tax consequences and if you stay in your home for a couple years and you are married there is an exclusion of how much you can make without paying the taxes. Again, check with your accountant..

Novice Agree but pharaoh, pharaoh, let my people go is coming to the theatre near you

SG LOL...

I have question like that myself. I know DT is offering this service that you can buy gold with your dinar, that could be possiblity. You might want to call them and check with them. As far as IRA concerns, I think it's a bit complicated to buy dinar with your IRA account, because your holding is not on paper but physical currency, unless you can prove that you buy dinar with IRA money which can be done with your brokerage firm if they agree to hold your dinar I have not done either scenario. If I could exchange my dinar to gold like a swap.. it will be sweet

I thought there is another clan that is joing the fight too.. Shabiki tribe...???

Something is up.. Iraq has a pattern to do things on Saturday.. this could be it for all of us...cclosed meeting, lock it up, no media, till I am ready for final say..

You speak for me too thank you Ms. Bean You are right, this game is not for someone with weak stomach

Mokie Agree with you 100% Gym I am with ya count my blessings and I am blessed

I guess they mean business now..

You are welcome

Good morning Buti Thank you for your relentless effort to bring all of us the news.. I know how much time you spend doing this everyday we appreciate YOU

Yuan Has Real Shot at IMF Blessing on Reserve Status By Andrew Mayeda and Fion Li December 11, 2014 8:11AM Photographer: Qilai Shen/Bloomberg People’s Bank of China Deputy Governor Yi Gang said in October, SDR status will happen when conditions are right, and governments and officials, “including those working at the IMF,” are aware of the appetite in global markets for the yuan. For the first time, China has a real shot at getting the International Monetary Fund to endorse the yuan as a global reserve currency alongside the dollar and euro. In late 2015, the IMF will conduct its next twice-a-decade review of the basket of currencies its members can count toward their official reserves. Including the yuan in this so-called Special Drawing Rights system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance. China would need to satisfy the Washington-based lender’s economic benchmarks and get the support of most of the other 187 member countries. The Asian nation is likely to pass both tests, said Eswar Prasad, who until 2006 worked at the IMF, including spells as heads of its financial studies and China divisions. “It will certainly help China’s objective of making the renminbi a more widely-used currency,” said Prasad, a professor of trade policy at Cornell University in Ithaca, New York, and senior fellow at the Brookings Institution in Washington. Renminbi is China’s official name for the yuan. Reserve-currency status for the yuan would make central banks, particularly those in developing economies, more eager to hold yuan assets and “diversify at the margin away from dollars,” as well as euros, yen and Swiss francs, Prasad said. Passing Test Approval hinges partly on whether the IMF reverses its 2010 decision that the yuan wasn’t “freely usable.” There’s growing evidence that the currency may now pass this test, after already qualifying on the IMF’s other condition of being a large exporter. The proportion of China’s trade that’s settled in yuan has risen to about 20 percent; the market for yuan-denominated Dim Sum bonds has grown to $72.9 billion from nothing in just seven years; and the government has loosened controls on foreigners’ access to its financial markets. China has also signed agreements to trade the yuan freely in cities from Hong Kong and Singapore to Frankfurt and London. The IMF said in an e-mailed statement that since the last review, “there have been a number of developments regarding the RMB’s international use, and the upcoming review would take stock of these developments.” SDR status will happen when conditions are right, and governments and officials, “including those working at the IMF,” are aware of the appetite in global markets for the yuan, People’s Bank of China Deputy Governor Yi Gang said in October. The PBOC didn’t respond to a faxed request for comment. ‘Conducive’ Environment There’s a “very high chance that the yuan will be included in the SDR,” Nathan Chow, an economist at DBS Group Holdings Ltd. who previously worked at the Hong Kong Monetary Authority. “Both political and economic circumstances are conducive,” Hong Kong-based Chow said. China’s currency will probably be more widely used than the yen and the pound in financial markets and trade in a few years, and the government should lobby other countries to have it included in the SDR basket, the Shanghai Development Research Foundation said in a report this year. The yuan’s share of money transferred around the globe rose to a record 1.72 percent in September, making it the seventh most-used currency, according to the Society for Worldwide International Financial Telecommunication, the La Hulpe, Belgium-based cooperative that processes international funds transfers for more than 10,000 banks and other customers in 215 countries. Fixed Rates The IMF created the SDR in 1969 to support the Bretton Woods system of fixed exchange rates after supplies of gold and dollars proved inadequate. Owning SDRs gives countries a claim to the four currencies in the basket: the dollar, euro, yen and U.K. pound. About $300 billion in SDRs are outstanding globally, according to the IMF. They accounted for $52 billion of the $135 billion in U.S. official reserve assets as of Nov. 28, Treasury Departmentfigures show. The yuan is still dwarfed by the dollar in terms of usage in international trade and finance. When quoting countries’ foreign reserves, the IMF lumps it into its “other currencies” category, which accounts for just 3 percent of the $6.3 trillion in allocated holdings. The dollar has a 60.7 percent share, with 24.2 percent taken up by the euro and 3.9 percent by the pound. U.S. Veto The U.S. could potentially veto the yuan’s inclusion in the SDR basket because the change would require the support of as much as 85 percent of voting shares on the IMF’s executive board. The U.S. has 17 percent of the votes. The IMF said it’s too soon to say whether the move would require 70 percent or 85 percent of the vote under the institution’s bylaws. Holly Shulman, a Treasury Department spokeswoman, said in an e-mail that it’s too early to speculate on the outcome of the IMF review. China probably hasn’t done enough to liberalize controls over its currency and financial markets to sway the U.S., said Edwin Truman, who was assistant secretary for international affairs at the Treasury Department during the Clinton administration. The Asian nation maintains restrictions on capital flows to prevent speculators from inflating the economy. Currency Controls The IMF’s requirement for a “freely usable” currency “basically means there aren’t any controls on getting into and out of a currency, and China’s a good ways from that,” said Truman, now a senior fellow at the Peterson Institute for International Economics in Washington. Even so, China has pledged to move toward a market-determined exchange rate, and the yuan’s gains this year may help reassure U.S. officials who have accused the PBOC of debasing its currency for economic advantage. Even after a 1.2 percent drop since the end of October, the yuan is still up 0.3 percent versus the dollar in the second half, the only one of 31 major currencies tracked by Bloomberg to have strengthened. SDR status would be a “relatively easy” way for the world to acknowledge China’s economic ascendancy, said Benjamin J. Cohen, a professor of international political economy at the University of California at Santa Barbara. It overtook Japan to become the world’s second-biggest economy in 2010. “It’s very difficult to imagine they won’t include the yuan in the basket,” Cohen said. “China has to be mollified.” To contact the reporters on this story: Andrew Mayeda in Ottawa at [email protected]<script type="text/javascript"> /* */ </script>; Fion Li in Hong Kong at [email protected] To contact the editors responsible for this story: Chris Wellisz at [email protected]; Robert Burgess at [email protected] Scott Lanman, Paul Armstrong http://mobile.bloomberg.com/news/2014-12-11/yuan-has-real-shot-at-imf-blessing-on-reserve-status.html

Nadita File – 12/10/2014 Good evening everyone, thanks for watching Nadita File where the spin starts here J Other News : Utah Rock reported CDC warns of bad flu season and this year vaccine will be only 40% effective. CDC officials say it’s still recommended to get flu shots to protect children and elderly. H3N2 in 2012 and 2013 were severe flu season. Fed government deficit for first two months of new budget year is down 21% from same period one year ago. Treasury Dept says deficit for November totaled $56.8B, a 58% drop from last year’s November deficit of $135.2B. CBO forecasts that deficit for the 2015 budget year will fall from $483.3B to $469B in 2014. A-J516 reported UN calling for prosecutions of senior US officials who authorized and carried out torture under Bush admin. UN special investigator for counterterrorism says new senate report on CIA interrogations program shows program allowed Bush admin to commit gross violations of international human rights law. DOJ has already pursued two investigations into mistreatment of detainees since 2000 and concluded evidence was insufficient to obtain conviction. Current and past officials defend program, saying it led to capture of Al Qaeda leaders and prevented mass casualty attacks. Current CIA Dir John Brennan acknowledges agency made mistakes, but agrees with former officials that harsh interrogations saved lives. Fox news poll finds 81% of American voters expect ISIS to attempt US attack in near future, including 48% who thinks it’s very likely. Meantime poll found 5% of voters want captured ISIS terrorists send to gitmo. Pres Obama wants to shutter gitmo and fulfill 2008 campaign promise. Yet 56% of voters want to keep it open, according to poll, up from 52% in June, but down from record 63% in 2013. Mazda expanding its US recall of Takata airbags to the entire country, following similar action by Honda. Mazda is complying with Fed regulator’s demands that automakers and Takata issue nationwide recalls for the defective airbags. Takata airbags can inflate with too much force, spewing metal shards into passenger compartment. At least five deaths and dozens of injuries have been linked to the problem worldwide. Takata has refused to cooperate with the NHTSA demand for nationwide recalls, saying the problem is limited to high humidity states. Pres. Obama announces over $1B in public and private spending on programs for young learners. He says early childhood education is one of the best investments we can make. Spending program was announced Wednesday at day long White House Summit on early education. 18 States were awarded $250M in education dept grants. On top of $500M health and human services dept funds for more than 40 states, to expand early head start and child care programs for youngsters three and under. Another $330M will come from dozens of corporations, foundations and individuals. Wbuse984 is praying for northern CA is preparing for powerful storm expected to bring hurricane force winds and heavy rains. National Weather Service says as much as 8 inches of rain could fall on coastal mountains over 24 hour period starting late Wednesday. Storm could also drop more than 2 feet of snow on ski resorts in the northern Sierra Nevada Mountains. Boosterbglee is happy to hear Pentagon is giving hundreds of troops thousands of dollars in back pay for flying airstrike and surveillance missions over Syria. New defense dept memo designates Syrian airspace as a dangerous location so troops can now receive additional money when they fly through it. Pentagon estimates 600 service members a week are entitled to the imminent danger pay, which will cost about $18,000 monthly. Dow plunged 268 points to 17,534 at trading today on fears of freefall in the oil price will eventually lead to a global economic slowdown and financial collapse. S&P 500 lost 34 points to 2,026 and Nasdaq dropped 82 points to 4,684. Gold closed at $1,225, silver at $17.10, copper at $2.90. WTI crude oil at $61.40 and Brent at $64.75. Oil price drops to five year low. OPEC is near term and needs to do something like cutting oil production. Oil is expected to go as low as $50/barrel. Oil ETFs : Powershares DB Oil FD (DBO) down 3.87% closing at $18.13. US Oil Fund (USO) also down 3.8%, closing at $23.28. Oil stocks Exxon (XOM) and Chevron (CVX) are holding good at trading today, whereas Halliburton slipped 3.5%, closing at $38.12. Halliburton has lost 48% in the last 4 months. Top oil trader Andi Hall, exits Phibro. Andy Hall was chairman and CEO of Phibro since 1993. Phibro current corp parent is Occidental Petroleum. He runs own hedge fund, Asterbeck. Apple anyone?? Apple watch is coming in 2015with diverse products which can get into high end stores and jewelers. iPhone 6 and 6Plus which can replace iPad mini will likely be strong but pullback in the second half of 2016. Next generation of iPhone could be underwhelming. iPad is coming back too with bigger iPad for enterprise market. Apple is gaining market share from Samsung. Piper Jaffray upgraded Apple to buy with new price target of $135/share. Starrider is going to wait for new iPad in 2015. Rodandstaff hear bottled water is in demand. It is predicted within 30 years water scarce could be 40% in fresh water deficit available to feed 9B people. First and foremost is to conserve water and better usage of water and treating used water. nestle waters north amcerica water scarce within 30 years could be 40% in fresh water deficit available to feed 9B people. First and for most, conservation.. better usage of water and treating used water. Uneek feels good finally Federal appeals court on Wednesday vacated the insider trading convictions of two former hedge fund managers stemming form trades in Dell and Nvidia. Tood Newman and Anthony Chiasson were convicted in 2012 of trading on insider information. The US 2nd circuit court of appeals ruled in part that there was a lack of clear evidence that the two knew the person giving the tip received any benefit from the trades. This is a major blow to Manhattan US Attorney Bharara. From Dinar Land : Captl1 accompanied US Defense Secy Chuck Hagel to meet with PM Abadi who said Iraq needs more airstrikes and ammunition to fight ISIL. Hagel was greeted by American and Australian troops where he made a short speech saying that Iraqi security forces and Kurdish peshmerga are now fighting bravely assisted by US led coalition air cover led by Sandfly. Both Abadi and Hagel agreed that ISIL has not been beaten but weakened and on the defensive in most areas. Abadi also stated that the push to liberate Mosul, Iraq’s 2nd largest city is coming soon and that security forces are eager to gain control of the whole country. Iraqi security forces and Kurdish peshmerga assisted by US led coalition airstrikes launched offensive attacks in several front killing and wounding scores of terrorists in Diyala province. PM Abadi has appointed Lt. General Riyad Tawfic as the new commander of Nineveh operations. Several members of parliament and high ranking officials expressed their confidence in Tawfic’s ability to lead the troops against ISIL. Calkid11 overheard US Lt. General James Terry said 1,500 more troops will be added to the 3,000 US troops now advising and training security forces. Terry added these troops will not engage in actual combat. He didn’t specify the nationalities of these additional troops. It is confirmed that Iran conducted airstrikes against ISIL positions near the Iranian-Iraqi borders. The strikes were made at the request of PM Abadi for all countries to join to fight the terrorists. US and Iran denied any cooperation in these airstrikes that are conducted over a 25 mile wide corridor near the borders. Iraqi Pres. Massoum told tribal leaders that the only way to defeat ISIL and their cohorts is to stand united regardless of sect of religion. He said Iraqis must be loyal to Iraq first and foremost. He added all sects, Kurds, Shiites, Sunnis must abide with national reconciliation document signed by all parties and that can be achieved by ongoing dialogue and compromise. A western observer said ISIL evolves from Al Qaeda and the ideology of the late Osama Bin Laden but the danger it presents and the cruelty it displays makes Al Qaeda looks like a moderate organization in comparison. Drj gives thumbs up to PM Abadi in his strongest campaign against corruption said he started cleaning government institutions and the big wigs in the armed forces. These big whales have caused so much damage to Iraq and endangering its security and stole public funds. Iraqi armed forces said it stopped paying approx 4,000 ghost soldiers who have military ID on record but they bribe their way not to report to their assigned duties and hold other civilian jobs. Abadi added that he is aware of campaigns aimed to his downfall but he will not back down even under the threat of being assassinated. Ministry of Oil said Iraq is losing 300K-400K bpd because of ISIL control in oil production areas in Kirkuk province. Under normal circumstances the oil would have been exported via Turkish Ceyhan port. The losses exceed $1B per month. ISIL steals the oil and sells in black market at an estimated one third of oil price. PM Abadi met with BP’s CEO Bob Dudley to discuss ongoing operations especially oil fields operated by BP in Rumaila and Kirkuk. Chess is counting the barrels going to be pumped out of Kirkud and Rumaila once security is not an issue. Nfire predicts the free fall of crude oil prices is forcing officials at all levels to look for ways to save money. Expenses have been slashed in order to keep deficit within a manageable margin. A prominent financial analyst said the free fall of crude oil price is a blessing in disguise as it forces government and parliament to work on cutting unnecessary expenses, battle corruption and bring to the front the necessity of working on diversifying the country’s revenues. In the long run, the oil slide will help in shaping Iraq’s priorities and to stop corruption especially in high levels of government and other institutions including the armed forces. Minister of Finance Hoshyar Zebari talked to reporters about security, future plans for Iraqi’s economy in the next phases and stability of Iraqi dinar. He stressed on the importance of adopting 2015 budget. He has had meetings with IMF in Amman. He added it is important for Iraq to deal with the rest of the world honestly, clearly and with transparency. Iraq is working hard to attract domestic and foreign investors. Saudi Arabia is shuffling several ministers in their cabinet. Observers and Saudi affair experts said the slump in crude oil prices and ISIL threat played a major factor in this sweeping changes. The kingdom is attempting to shed its image as a stringent non-progreesive country as demonstrated by not allowing women to drive, etc. ISISL issue is also shaping the way Saudi is thinking now. Genx4me thinks it’s about time Saudi moves to 21st century. From Rumor Land : Enorrste thinks a free float will bring the official rate and the street rate together overnight. Jester believes things are moving around but no timing is given. Wmawhite says they are going to live by 2015 budget sometimes in 2015, then things are going to have to change in our favor. BGG thinks it can happen anytime between now and the first of the yar is an opportune moment. Millionday thinks that the release of IMF is a turn of a page. Tim724 feels good for Q1 2015. DC thinks Abadi will make short announcement to not cause an international stir and that will change the rate in Iraq. The US may take a few days to open this up, or they may use this as a signal to quietly release this to the internet right away. The spin stops here J send your comments to #naditafile, Dinar Thug is next, good night everyone J

I like your thinking I guess if it were me, I don't want to lose my voting rights because that;s how I control - power and money oil price is dropping to possibly $50/barrel or some say could go to $40 and it will not bounce any sooner. I say closer to petrodollar so the profit will not be much but who can rake more dinar will be able to buy oil at petrodollar price when oil price spikes again... and again my simple mind thinks that way

HSBC dismisses head of FX trading for EMEA: source Wed, Dec 10 2014 By Patrick Graham and Jamie McGeever LONDON (Reuters) - British bank HSBC has dismissed its head of foreign exchange trading for Europe, Middle East and Africa, Stuart Scott, a source with knowledge of the decision said on Wednesday. "He has gone," the source said, adding that the move was broadly in the context of a global investigation into manipulation of currency markets which saw HSBC and five other banks fined a total of $4.3 billion last month. Scott was not reachable at the bank for comment. Heidi Ashley, spokeswoman for HSBC in London, declined to comment. Scott's dismissal, first reported by the Wall Street Journal on Wednesday, follows the departure of two London-based currency traders at HSBC in October. They were Serge Sarramegna, who had been the bank's UK head of G10 foreign exchange cash trading, and Edward Pinto, who traded Scandinavian currencies. Both were fired after being suspended in January. HSBC last month paid $618 million in the FX settlements with Britain's Financial Conduct Authority and U.S. authorities last month - $343 million to the FCA and $275 million to the U.S. authorities. Sources told Reuters last month that officials from the U.S. Department of Justice will interview current or former employees at HSBC in London as part of their ongoing investigations. (Reporting by Patrick Graham and Jamie McGeever; editing by John Stonestreet) http://www.reuters.com/article/2014/12/10/us-fx-investigations-hsbc-idUSKBN0JO12G20141210

Just It's what they wrote, not me. I am just bringing the news Yes, if the US wants to use it, they will and the question is will they?

Well.. if we don't want to lose our voting power than we need to fund IMF and how do we do that? by signing the document and nodding the head for green light to Iraq to rv.. at least that's what I think

U.S. Congress will not pass IMF reforms this year 11:44am EST By Anna Yukhananov WASHINGTON (Reuters) - Funding for the International Monetary Fund did not make it into U.S. spending legislation this year, another setback for historic reforms aimed at giving emerging markets more say in how the world lender is run. A $1.1 trillion U.S. spending bill unveiled late on Tuesday did not include funding for the IMF, according to a text of the bill, meaning the reforms will not get passed by a year-end deadline. Finance chiefs from around the world had given the United States until Jan. 1 to ratify the reforms, and have threatened to move forward without it if it fails to do so. The reforms would double the fund's resources and hand more IMF voting power to countries like the BRICS: Brazil, Russia, India, China and South Africa. They would also revamp the IMF's board to reduce the dominance of Western Europe. The changes to the voting shares, known as quotas, cannot proceed without the United States, which holds the only controlling share of IMF votes. The Obama administration has been pushing Congress for nearly two years to approve a shift of some $63 billion from an IMF crisis fund to its general accounts to make good on its international promise and maintain Washington's influence at the global lender. "Without these reforms, emerging economies may well look outside the IMF and the international economic system that we helped design, potentially undermining the fund's ability to serve as a first responder for financial crises around the world," Nathan Sheets, U.S. Treasury undersecretary for international affairs, said in a speech last week. Some observers believe the stalled IMF reforms gave the BRICS group of emerging markets further impetus to launch their own currency reserve pool and development bank earlier this year, intended as a challenge to Western dominance in global financial institutions. But some Republicans have complained that the IMF changes would cost too much at a time of big budget deficits in Washington. They are also critical of how efficiently the IMF was helping struggling economies in Europe and the risks attached to billion-dollar IMF loans to countries like Greece. The Obama administration last made a push to include the IMF reforms in a broader funding package for Ukraine in March, but U.S. Senate Democrats dropped the language to ensure smooth passage of the bill. (Reporting by Anna Yukhananov; Editing by Jonathan Oatis) http://www.reuters.com/article/2014/12/10/us-usa-congress-imf-idUSKBN0JO1UC20141210

Boost LOL... you just cut the chase lol

Buti Thank you for all the articles you scout for all of us. Looks good