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Thread: 2019 Observations...

  1. #11
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    Even here...market forces arise

    Exclusive: Iran-backed groups corner Iraq's postwar scrap metal market - sources


    MOSUL, Iraq (Reuters) - The wrecks of vehicles used by Islamic State militants as car bombs and other metal debris left by the war in Iraq are now helping fund their Iran-backed enemies, industry sources say.






    Scrapyard owners, steel plant managers and legislators from around the city of Mosul, the de facto IS capital from 2014 to 2017, described to Reuters how the Popular Mobilisation Forces (PMF) have made millions of dollars from the sale of anything from wrecked cars and damaged weapons to water tanks and window frames.

    But the scrapyard owner, who said he buys scrap for
    100,000 Iraqi dinars ($84) per tonne and sells it for 110,000 dinars , said the PMF or traders they work with sell it in Kurdistan for up to $200 a tonne
    . He said the PMF had taken control of his yard.

    amazing! even in these conditions, regardless of ideology, (unregulated) market forces of supply and demand set up, and operate determining the unit of currency which will produce the most profit!

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    Last edited by dollarsign; 02-16-2019 at 04:56 PM.

  2. #12
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    A continuing theme...

    https://www.reuters.com/article/us-e...-idUSKCN1Q21WB


    The U.S. dollar clearing mechanism allows the United States effectively to control all electronic bank transactions and go after anyone who it believes is in breach of its rules.
    Earlier this year, several European buyers suspended purchases of Venezuelan crude due to fears of U.S. secondary sanctions even though they were not formally forbidden from buying oil under the latest U.S. curbs.
    Tensions between the United States and the EU over the role of the dollar go back even longer.
    In 2014, Washington fined BNP Paribas $9 billion for trading Iranian and Sudanese oil, with the French bank agreeing a settlement under the threat of losing access to dollar clearing.
    ___________________________
    I think it is safe to say that an RV wouldn't make any of these countries/world leaders happy.
    I'll buy them some Kleenex with some of mine...

    $


  3. #13
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    Why would they not be happy?
    [Still kicking]

  4. #14
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    Any country or currency union would want to see their currency have a greater role in international commerce. The russian, Chinese, and EU leaders have been very vocal on the need to reduce the Dollars dominance in pricing of commerce. Much of this has erupted since the EU lifted all sanctions on Iraqs banking system. (happened close to the end of last year, in the other thread) I don't know why that set them off the way it did, but it seems they would read full reintegration of Iraqs banking system, linked to a currency basket heavily weighted to the value of a Dollar as a continuation of a global financial order that they'd like very much to change.

    ​$

  5. #15
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    Oil and Airplanes...

    Then...

    From pg. 14 of this thread... 9/22/18 (Here we Go thread)
    European Commission President Jean-Claude Juncker called on Wednesday for the European Union to promote the euro as a global currency to challenge the U.S. dollar.
    “We must do more to allow our single currency to play its full role on the international scene,” Juncker told the European Parliament in Strasbourg as he presented his annual program.

    “It is absurd that Europe pays for 80 percent of its energy import bill – worth 300 billion euros a year – in U.S. dollars when only roughly 2 percent of our energy imports come from the United States,” he said.
    “It is absurd that European companies buy European planes in dollars instead of euro,”

    Now...

    Airbus A380: from European dream to white elephant


    Loved by passengers, feared by accountants, the world's largest airliner has run out of runway after Airbus decided to close A380 production after 12 years in service due to weak sales.




    This is part of part of what's driving some EU leaders insane. This was supposed to wipe out 747s, 777s and 787 Dreamliners. This was the EU working together to wrest the dominance that Boeing has enjoyed in global long haul commercial travel since the late 1960s, and it's dead in 12 years.
    Out in Washington State, Champagne, a French product, paid for by Boeing Executives in Dollars is being guzzled, to celebrate the death of the German-French creation.
    An Iraq going from war, to prosperity based on oil sold either outright in Dollars, or a currency basket with the Dollar carrying the heaviest weighting will be viewed by some as just another indignity.
    $
    Last edited by dollarsign; 02-15-2019 at 03:20 PM.

  6. #16
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    Thanks. What a trip!
    [Still kicking]

  7. #17
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    absolutely head spinning 40plus!

    ​$

  8. #18
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    Speaking your language...

    Supervisory Action Manual/Risk management controls in traditional banking (Commercial

    On the Arabic side of the CBI site, this document is long, has very little English, but if you are tracking the banking side of things on this ride, the few words that are will make you smile. If you're on the currency side, the highly developed Banking system this document outlines will make you smile, something for everyone. Let's call them Keywords. Sounds like modern banking, with some trading guidance being passed down. With any luck, it will be on the English side of the CBI in a day or two.

    https://cbi.iq/news/view/1013

    $
    Last edited by dollarsign; 02-19-2019 at 11:50 AM.

  9. #19
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    On whose authority?

    Then...
    Mr. Marshall Billingslea
    of the United States assumed the position of President of the FATF on 1 July 2018.
    Mr. Billingslea serves as the US Department of the Treasury’s Assistant Secretary
    heading the Office of Terrorist Financing and Financial Crimes. In this role he is responsible for policy development and international engagement pertaining to anti-money laundering and countering the financing of terrorism.
    Previously, Mr. Billingslea served as a Managing Director at Deloitte, responsible for its Federal Business Intelligence Services group


    From pg. 14 of this thread... 9/22/18 (Here we Go thread)
    European Commission President Jean-Claude Juncker called on Wednesday for the European Union to promote the euro as a global currency to challenge the U.S. dollar.
    “We must do more to allow our single currency to play its full role on the international scene,” Juncker told the European Parliament in Strasbourg as he presented his annual program.

    and...Now

    BUSINESS NEWS

    FEBRUARY 22, 2019 / 5:19 AM

    PARIS (Reuters) - A European Union blacklist of nations it considers as anti-money laundering and terrorism-financing threats risks undermining the work of the Financial Action Task Force, the body’s head said on Friday. The FATF is an inter-governmental organization that underpins the fight against money laundering and terrorism financing by setting global standards and checking if countries respect them. The European Commission earlier this month increased the number of countries on its list to 23 from 16, adding Saudi Arabia, Panama and four U.S. territories in a move that was criticized by some EU countries like Britain

    the point here (for me), is that this competing EU terrorism finance list just happens to add places in our neighborhood where we have serious offshore banking activity. I'm sure Britain criticized this move because the Cayman Islands (heavy duty offshore banking activity) are a British territory, also in the Caribbean. So for those of you considering such "no questions asked bank havens", the EU wants to block you. Good luck trying to do that EU.
    $


    Last edited by dollarsign; 02-24-2019 at 03:16 PM.

  10. #20
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    Offshore advantages

    Buying and holding multiple foreign currencies offshore is simple and convenient. Virtually all offshore banks offer account holders the ability to hold multiple currencies in the same bank account. For example, a client may hold USD, CHF and GBP (United States Dollars, Swiss Francs and British Pounds Sterling) simultaneously in an offshore bank account. Once an offshore bank account has been opened and funds have been deposited into it, some or all of the funds may be exchanged for foreign currencies and held in the account.
    Offshore brokerages also offer the ability to hold multiple currencies in the same account as well as purchase foreign stocks directly through foreign stock exchanges. For example, an offshore brokerage account may hold USD, CHF and GBP simultaneously. The same brokerage account may be used to purchase shares of Swiss companies on the Swiss stock exchange, or Brazilian companies on the Brazilian stock exchange, etc.

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