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Straight Talkin Mike~~RV for Dummies~~Discussion 10 year period & the LOP

7/7/2012

 
Straight Talkin Mike Comments about Article referencing the 10 year Period and the LOP

"Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years" (Article is at bottom of this post - below comments made by Straight Talkin Mike on Thursday, July 5, 2012)

Straight Talkin Mike....July 5, 2012

So Shabibi Had a meeting with Maliki a year ago on June 19, 2011...So lets see they were ready a year ago...Its now July 5, 2012 - yes I would say they are ready to go...

This is going to be "RV for Dummies".....Let me break this down and understand why this is so important so all of the misinformation being given out on other calls can go away.....

You have 30 trillion dinars...thats the total M3 money supply...you have an internal money supply whats in the bank and whats in
the Iraqis pockets..thats the M1 money supply...thats a smaller portion of the total money supply..there are countries that hold dinar...We hold dinar in another country...Theres 15 trillion or less in country...most of that other is held outside of the country..there is not much held in the banks...

The reason this 10 yr period is so important is because when other countries cash out their money it goes to their Central Bank...Ours goes to the Federal Reserve Bank..Now they are not like all of us who just hit the lotto and are going to run and cash in your money and go out and spend it.....Central Banks are going to hold onto that money which means the have a 10 yr period to exchange what they have in their reserves for the new money.....they do that ...we don't do that....we just trade it in...this is almost like depreciating this money over 10 yrs for him as far as paying for the RV.....they are making it very clear to the world each time we see one of these articles that there is going to be a 10 yr period for these Central Banks to do that...

Now we may only have 2 yrs which is what they say and we are in this process and they are going to run them concurrently for 2
yrs and the new currency is coming out ....We believe that sometime before this currency comes out this RV will take place because you can't issue the new currency with money that is worthless because it costs more to print it than it does...

Now the debate can rage on all it wants on whether or not they are ready but when you have the Governor of the Bank a year ago telling them they are ready to do this and they wanted to do as of January of this year..June last year they went to Maliki and said we are ready to do this 2012...well all of the political stuff went on so they moved it to 2013 so they are beyond the point of no return..they know they are going to do this and that this is going to happen..as we move along this ride they are giving us all of friendly information to keep everybody on board...

Now everybody can come up with their theories and all of that other stuff...they are not not going to lop their currency...they are not going to take value away from it...we here on this team believe that this investment will be worth more than what we paid for it at some time in the future....Period... end of story...You can talk about all of the other theories, etc but this is basically what these articles are telling us and that the Finance Committee is on board.....I don't think we have had this kind of response from the Finance Committe ever....its almost like they are over zealous at the Finance Committee--they don't understand the difference between oversight and monetary policy..they think they have to implement all of this..so they are out there blabbering and talking away...half the time in these articles they don't know what they are are talking about - so when you read an article make sure where it is coming from..is it coming from the Finance Commitee or is it coming from Shabibi at the CBI...the more correct information is going to come from the CBI....the overblown info from the Finance Committes because they truly do not understand what that process is....so we really need to make sure you understand your frame of reference when you read these articles...but this is another article that lets us know that as they have been telling us for the last 1 1/2 years...there will be a 2 yr period...currencies will run concurrent which means they will have equal value....they keep on telling us that...and that at some point in time over 10 yrs people can turn these in and when they talk about people they are talking about the Central Banks...
It is truly that simple...people try to overcomplicate it....



Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years
Published on Thursday, 05 / 2012 08:35 | posted by: Rasan | Print | E-mail | Hits: 253

BAGHDAD / With: revealed the parliamentary finance committee that the central bank has agreed to allow replacement of the survival rates for ten years from entry into the exchange, stressing that the three companies had to perform the printing new currency.

A member of the Finance Committee, the parliamentary Haitham al-Jubouri said in an interview to the correspondent of news agency future: "The Finance Committee and even the central bank were afraid of the process of handing over money to the Iraqi banks could see the manipulation or through which some of extortion in order to reduce the delivery time therefore, and after studying the abundant of the subject and agreed conservative central bank that there is a lot of time represented by ten years to the Imam on the currency exchange receipt of new surveys of the Iraqi currency and replace the old El Jadida. "

The Jubouri that "a mechanism to replace the currency will be in two years and the first three stages are the printing process and secondly the process of offering the two currencies in the markets of Iraq and the third pull the old currency and to keep only the new currency."

The Jubouri that "there are companies presentations were made to the Central Bank and the Iraqi government in order to compete on the process of printing new Iraqi currency as each company competes in terms of price, first hand, security second, and both these issues are two important too, noting that all the offers are under hand, but must first get to the final decision to switch the currency or not, and then can receive offers and discussed in detail. "

The Jubouri that "the offers made are from Switzerland and Russia and Brazil and that these offers are competing in terms of the quality of the paper and worker security primarily, so the offers must be subject to a discussion of a specialized committee of the Central Bank of Iraq to determine the priorities of the companies that can be printed Iraqi funds ".

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and currency exchange rates, pointing out that the current formed a cluster of large cash estimated at 30 trillion dinars.

According to some economists that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion of zeros needed to stabilize the security and political as well as economic stability.

And declared the Iraqi Central Bank Governor Sinan Shabibi independent bodies during a meeting with Prime Minister Nuri al-Maliki, which was held in (June 19, 2011) is ready to create all supplies to replace the Iraqi currency. (Finished)

Marwan Shuwaili

Source


What Happens With Your Checking & Savings Accounts When a Bank Fails?

1/12/2012

 
_What Happens With Your Checking & Savings Accounts When a Bank Fails?

By Tom Streissguth, eHow Contributor

  Bank failures have become an increasingly common phenomenon in the current recession. When a bank can no longer meet federal guidelines for liquidity and asset-to-liability ratios, it is closed and taken under the control of a federal agency. In most cases, the bank is sold to a different institution, renamed and quickly reopened for business. Customer deposits in checking and savings accounts are protected up to a maximum amount, which varies with the account type.
Related Searches:

    Online Bank Deposit
    Bank Ratings Fdic

    History

        The Federal Deposit Insurance Corporation (FDIC) is a federal agency that was founded in 1933 with the purpose of protecting bank depositors against the loss of their money in bank failures. The FDIC played an important part in restoring the public's confidence in the banking system during the Great Depression. Since its founding, the FDIC has never failed to redeem any funds lost by insured depositors, up to the maximum amount, which has varied over the years.
    Account Types

        FDIC insurance is extended to all of a bank's deposit accounts by federal law. These include checking and savings accounts, as well as money-market accounts, trust accounts and certificates of deposit (CD). The FDIC does not insure investment accounts that buy and sell stocks, bonds, mutual funds or other securities.
    Insurance Limits

        Single checking and savings accounts are insured up to a maximum of $250,000. This amount is temporary and will expire on the last day of 2013. It will then return to its prerecession limit of $100,000 per account. The only exception to this is individual retirement accounts, or IRAs, which are tax-advantaged savings accounts that will remain protected up to the amount of $250,000.
    Extending Insured Amount

        To protect a larger amount against possible bank failure, it is advisable to open more than one bank account. The FDIC insurance limit applies to each individual holding deposits in a single institution. Opening accounts in separate banks spreads the risk.
    Purchase and Assumption

        When a bank is deemed to have failed, FDIC officials enter the bank after the close of business on Friday to inform management and employees. There is no public notice until after the bank is seized. In the most common type of FDIC action, when a bank's capital-to-asset (loan) ratio falls below a certain limit, the FDIC transfers its liabilities (deposits) and some or all of its assets (loans) to another bank. The assets, in the form of outstanding loans, may be auctioned off to several institutions. The seized bank then opens its doors--usually on the next business day--under a new name and new ownership.
    Payout

        The FDIC can also seize a failed bank, liquidate its remaining assets as a receiver and pay insured depositors from the proceeds. Any deposit amounts not covered by the bank's liquidation are paid out of the FDIC's own funds, which are provided by the U.S. Treasury by an appropriation of the U.S. Congress. In this case, the bank is permanently closed, its stock canceled and its physical assets sold at auction.


SOURCE



Here Are 15 Frontier Markets Offering Huge Returns For Adventurous Investors

1/2/2012

 
_Thanks Brenda

Here Are 15 Frontier Markets Offering Huge Returns For Adventurous Investors

Mamta Badkar | Jan. 1, 2012, 9:25 AM

Lewis & Clark & Sacagawea

Investing in emerging markets, such as the BRIC economies, have been all the rave as investors seek growth while developed markets slow.

But even the emerging markets have become less attractive.  China faces a decelerating economy, India lacks the flexibility to stimulate its economy, Russia will have potentially destabilizing presidential elections this year, and Brazil is wrestling with inflation.

Before an economy is categorized as an "emerging market," it is usually considered a "frontier market."  Frontier markets are often characterized by underdeveloped infrastructures, weak legal systems, and illiquid capital markets.  As such, they are considered much riskier than than most investment classes. However, they often offer extraordinary growth opportunities that eclipse those offered by the more developed EMs.

In a recent report, Citi's Andrew Howell identifies 15 "Frontier" markets that will provide big returns for investors for decades.  Some, like Argentina and Venezuela, are well known.  But, others, like Ghana and Kazakhstan, often go overlooked.

Argentina
Argentina

Image: barcablaugranes.com
Long-term GDP growth rate: 4.1%

GDP per capita: $10,675

GDP: $435.2 billion

Population: 40.8 million

Adult literacy rate: 98%

What's doing well: Argentina's infrastructure is better than other frontier markets and it has a strong agricultural sector. Domestic consumption has been strong spurring economic growth.

Risks: Inflation is a huge risk and with capital flight on the rise, the Argentinian peso is likely to lose value. Policy-related concerns have affected stock market performance.

Source: Citigroup
Bangladesh
Bangladesh

Image: AP
Long-term GDP growth rate: 7.5%

GDP per capita: $764

GDP: $115.0 billion

Population: 150.5 million

Adult literacy rate: 56%

What's doing well: Bangladesh is poised to do well in large part because its low starting point leaves it with a lot of room to grow. It also has a young, rapidly growing, cheap labor force. Bangladesh's stock market is larger and more liquid than other frontier markets.

Risks: Limited employment opportunities are pushing more Bangaldeshi's abroad in search of work, and the country's infrastructure needs to be developed. The lack of regulation and supervision poses a risk to its financial sector.

Source: Citigroup
Egypt
Egypt

Image: KHALED DESOUKI / AFP / Getty Images
Long-term GDP growth rate: 6.3%

GDP per capita: $2,810

GDP: $231.9 billion

Population: 82.5 million

Adult literacy rate: 66%

What's doing well: Egypt's rapidly growing population is better educated than the population of many neighboring countries. Energy, trade, transportation and tourism are all doing well in large part because of its key geographical location.

Risks: In the wake of the Arab spring economic and political risks remain high, and many foreign investors have pulled their investments from the country. Youth unemployment is also an issue its new government will have to contend with.

Source: Citigroup
Ghana
Ghana

Image: Flickr Creative Commons
Long-term GDP growth rate: N/A

GDP per capita: $1,546

GDP: $38.6 billion

Population: 25.0 million

Adult literacy rate: 67%

What's doing well: Ghana's offshore Jubilee field has made the country the newest oil producer in the world. It is already rich in commodities like gold, cocoa, diamonds and manganese. And unlike many of its neighbors has a functioning democracy.

Risks: Ghana needs to avoid the resource curse / paradox of plenty in which countries rich in natural resources have weaker growth than economies with fewer natural resources. Moreover elections in Ghana have been followed by fiscal crises.

Source: Citigroup
Iraq
Iraq
Long-term GDP growth rate: 7.6%

GDP per capita: $3,325

GDP: $108.6 billion

Population: 32.7 million

Adult literacy rate: 78%

What's doing well: Iraq's oil production is set to rise more than any other country in the next decade.

Risks: The Kurdish Regional Government (KRG) and the federal government continue to disagree on oil laws. Security continues to be a major risk, the presence of U.S. troops increases the risk of domestic turmoil while its withdrawal could see a surge in violence which local security forces are unprepared for.

Source: Citigroup
Kazakhstan
Kazakhstan

Image: Ken and Nyetta via Flickr
Long-term GDP growth rate: 4.5%

GDP per capita: $11,115

GDP: $180.1 billion

Population: 16.2 million

Adult literacy rate: 100%

What's doing well: Kazakhstan's rich in natural resources like oil and minerals like gold, copper, zinc and uranium

Risks: Political succession is an issue with elections in mid-January 2012. The domestic banking sector is still trying to recover from bad debts.

Source: Citigroup
Kenya
Kenya

Image: AP
Long-term GDP growth rate: N/A

GDP per capita: $868

GDP: $36.1 billion

Population: 41.6 million

Adult literacy rate: 87%

What's doing well: Offshore natural gas deposits have been discovered close to the Ethiopian border and telecommunications industry is growing rapidly. It also functions as a business and manufacturing hub in East Africa.

Risks: Ethnic tensions persist and unrest in Somalia has seen military intervention by Kenyan troops. At 15%, inflation is high driven by rising food prices because of a drought in the horn of Africa.

Source: Citigroup
Mongolia
Mongolia
Long-term GDP growth rate: 6.9%

GDP per capita: $3,127

GDP: $8.8 billion

Population: 2.8 million

Adult literacy rate: 97%

What's doing well: Mongolia is rich in natural resources, specially copper and coking coal which are crucial for neighboring China. It has a young, growing population and a high domestic savings rate compared with other frontier markets.

Risks: Mongolia, like other resource rich nations, needs to avoid the resource curse.

Source: Citigroup
Nigeria
Nigeria

Image: Reuters
Long-term GDP growth rate: 8.4%

GDP per capita: $1,521

GDP: $247.1 billion

Population: 162.5 million

Adult literacy rate: 61%

What's doing well: Nigeria's banking sector is doing well, reporting strong earnings and inflation seems to have peaked.

Risks: Religious tensions are on the rise with a few attacks by militant Islamist group Boko Haram in the north-east this year. Poor infrastructure is also dragging overall growth.

Source: Citigroup
Pakistan
Pakistan
Long-term GDP growth rate: 4.9%

GDP per capita: $1,155

GDP: $204.1 billion

Population: 176.7 million

Adult literacy rate: 56%

What's doing well: Pakistan has a large, young and growing population and it is well diversified among its sectors.

Risks: Pakistan's population however needs adequate education to prevent it from weighing on the economy. Political and security risks remain high, with governance showing no signs of improvement.

Source: Citigroup
Romania
Romania

Nadia Comeneci

Image: Wikimedia Commons
Long-term GDP growth rate: 3.5%

GDP per capita: $8,645

GDP: $185.3 billion

Population: 21.4 million

Adult literacy rate: 98%

What's doing well: Exports have recovered.

Risks: The Romanian banking sector is 75% owned by European banks, and it faces contagion risks from Europe. The country's GDP growth has also been under risk from austerity.

Source: Citigroup
Sri Lanka
Sri Lanka

Image: AP
Long-term GDP growth rate: 6.6%

GDP per capita: $2,795

GDP: $58.8 billion

Population: 21.0 million

Adult literacy rate: 91%

What's doing well: Foreign investments to Sri Lanka have surged since the end of conflict between the terrorist group LTTE and the Sri Lankan government. Exports have picked up especially in textile manufacturing, and agricultural products.

Risks: The government's Asset Acquisition Act which allows the state to acquire assets once owned by the government but sold at a discount poses a risk to foreign investment.

Source: Citigroup
Ukraine
Ukraine
Long-term GDP growth rate: 3.7%

GDP per capita: $3,604

GDP: $162.9 billion

Population: 45.2 million

Adult literacy rate: 100%

What's doing well: Ukraine's agricultural sector is one of the best in Europe. It also has a well educated workforce that can help drive manufacturing.

Risks: Corruption poses a risk to businesses and eurozone issues have hurt its banking sector. Currency devaluation is also an immediate risk. Ukraine is also too dependent on Russia for energy.

Source: Citigroup
Venezuela
Venezuela
Long-term GDP growth rate: 4.3%

GDP per capita: $10,525

GDP: $309.8 billion

Population: 29.4 million

Adult literacy rate: 95%

What's doing well: Venezuela has one of the largest oil reserves in the world, and is a major oil exporter.

Risks: Half of government revenues depend on oil exports so the economy is always at risk from oil prices. President Hugo Chavez's decision to nationalize oil, cement, steel sectors and supermarkets led to a drop in foreign investment.

Source: Citigroup
Vietnam
Vietnam

Image: nurpax via Flickr
Long-term GDP growth rate: 7.4%

GDP per capita: $1,370

GDP: $121.6 billion

Population: 88.8 million

Adult literacy rate: 93%

What's doing well: Vietnam has competitive advantages in labor-intensive manufacturing. Its agricultural exports have also done well.

Risks: In an effort to drive GDP growth Vietnam has ended up with a 22.4% inflation rate. Moreover Vietnam has a weak banking sector

Source: Citigroup
The world can be an uncertain place...
The world can be an uncertain place...

North Korean leaders

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