Facts:
5. CBI Auctions
Rumors:
Of Interest (rumors that I find of particular interest either because of who said it or because of how I think it relates to what is happening right now):
2. DV Chat
5. Night chat
6. Enoch8 post
The Rest (doesn’t mean these are not happening):
1. Bank screen
Where Are We At?
1. The day started off nicely with urgent news of Iraq’s reserves being raised to 500 billion barrels! This is great because they can monetize the 500 billion barrels against their currency thereby strengthening the value. It was previously 143 billion barrels. Then, the news went south with news of Maliki and Allawi up to their old tricks. Maliki is not giving Allawi what he wants, and Allawi is threatening to not take the Council position. They’re bickering over nominees for some of the remaining positions, and they still have yet to resolve the issues related to the National Council of Strategic policies. In one article, Allawi is accusing Malike of circumventing the constitution and claims the current government is unconstitutional. As always, the news remains confusing too. Articles talk about how the security positions will be resolved, while others talk about a stalemate. That all said, the good news is that it does appear that things are happening related to the government formation.
2. News of China’s President’s meeting resulted in news media throwing out terms that seemed to be related to the global settlements. Live on separate news stations, people heard news reporters say that deals were being made behind closed doors and that there would be a transfer of wealth from the rich to the poor. In other related news, Ron Paul was designated to oversee the Federal Reserve. Ron has been on record stating that he wanted to abolish the Federal Reserve. It was said in the GET conference call that one of the outcomes of the global settlement is that the Federal Reserves would be wiped out. We also saw news of Canada settling their first trade in yuan. Recall in the GET conference call that it was mentioned China and Canada have teamed up to get the global settlements done. All coincidence? More importantly, is global settlements truly related to the RV?
3. In terms of the rates of exchange, we finally saw the new change. Only one country’s currency was updated and that was Venezuela’s.
What’s Left?
1. Reading of the budget for the first time (due to redraft).
2. Closure on Security positions (5 in total) and the remaining unfilled positions (4)
3. Formal announcement of government
4. Agreement on outstanding Kuwait issues
5. Lifting of remaining Chapter 7 sanctions (Kuwait related)
6. RV/RI
2. Closure on Security positions (5 in total) and the remaining unfilled positions (4)
3. Formal announcement of government
4. Agreement on outstanding Kuwait issues
5. Lifting of remaining Chapter 7 sanctions (Kuwait related)
6. RV/RI
What’s It All Mean?
1. I am curious about the sudden or “urgent” announcement about Iraq’s oil reserves jumping from 143 to 500 billion barrels. I’m happy about it, but I’m also wondering how they managed to go from the 4th largest proven oil reserve to the number one spot overtaking Saudi Arabia (264 billion). I am assuming that the 500 billion barrels is being considered “proven” as they are comparing it to their 143 billion, which is their current proven oil reserve amount. But, I could be wrong. In either case, the bigger the oil reserves, the better it is for us because they can back their currency with proven oil reserves.
2. Fact 9 above is a good thing. If Iraq wants to truly become part of the League nations, they must form their government and have a globally traded currency. This ties nicely into the upcoming Arab Summit to be held in Iraq. Let’s hope they finish everything before the summit in March. If they do not, they will not be taken seriously.
3. The news today that appeared to be related to the global settlements was really interesting to see right now because of the GET conference call we just heard. None of the news is conclusive in terms of being able to clearly state we are seeing the events of global settlements either preparing to take place, or taking place. But, because of the timing of all of these events, it sure does make me wonder and I can’t help but lean towards wanting to connect the events to global settlements. I’ll just keep a watchful eye and learn more.
