RE: Backdoc Post Today
Greenclan: THANK YOU DOC…..always great stuff.
Well it looks like the digital dollar is the “secret sauce” needed for Iraq to push the button – pull the trigger – get the new valueout………….correct ? thank you greenclan
Backdoc: YES IT ALWAYS WAS SINCE IT IS THE WORLDS RESERVE CURRENCY AND THE REFERENCE OF VALUE! DOC IMO
BigIron: Just a reminder: US government offices and banks will be closed for President’s Day Monday February 20.
Kloebe: I had to go to my local bank today (Wells Fargo) and although I was expecting to see signs saying they are closed Monday, they actually had signs saying they are open! I think that’s a little strange.
Aggiedad77: Not at all kloebe……a number of banking institutions do not observe the National holiday this next Monday….it is not uncommon for them to open doors.
Elaine: Wells Fargo only gets seven holidays per year. New Years Day, MLK, Memorial Day, 4th of July, Labor Day, Thanksgiving and Christmas. The Federal Reserve is closed on Monday so any transactions that are done on Monday will not snow up until Wenesday morning.
Doodlenug: Just like Delta and Frank have said… no “Auction Price” since January 2nd, and no “Remittances” recorded starting on February 6th. CBI… what’s up, YO?!?
Frank26: Don’t You Love it ??? !!! ……………(smile)
Doodlebug: I do, I do…and I will love it even MORE…when they fill in those blanks with their new rate! Hey CBI, we be watching you!
Salomon7: Doodlebug, It is now becoming so obvious just like Frank said — Iraq is busting at the seams and it is leaking out all over the place of what they are up to!
Like a guy planning to propose to his girlfriend. The night of the proposal I am sure it is sooo obvious to the young lady of what is transpiring before he even gets down on one knee, and pops out the engagement ring! That is what it feels like for all of us.
GFulcher: “And we haven’t even started the big work yet. That starts early next week. Some very big things are going to be announced next week.” – President Trump
Click on the link below which will take you directly to the quote, or fast forward the embedded video below to the 1:24:10 mark
Coincidence or dinar goggles? Time will tell …
CSHessman: Why Johnny Depp and Mike Tyson Sued their Advisors
By Mark P. Cussen, CFP®, CMFC, AFC | February 15, 2017 — 6:00 AM EST
Although most financial advisors meet either the suitability standard or the fiduciary standard when it comes to dealing with clients, there is always a small minority who choose to act in their own best interest instead of their clients, and many of them have paid a stiff price for doing so. Johnny Depp and Mike Tyson have recently filed lawsuits against former financial advisors and business managers, claiming these advisors used their money as their own and grossly mismanaged their assets. What can we learn from their mistakes?
The Washington Post reported that one of Tyson’s former financial advisors took around $550,000 from him and used the proceeds to pay for hotels, gambling, dental work, private school tuition for a girlfriend’s relative and tanning services. The advisor was forced to repay this amount and now is looking at a few years behind bars. (For more, see: Celebrity Financial Failures.)
Johnny Depp’s former business managers allegedly engaged in both mismanagement and outright fraud, and he sued them for $25 million in a recent filing. The filing states that the managers paid themselves nearly $30 million in contingency fees without a written agreement and also failed to file and pay taxes on time.
An Advisor’s Level of Responsibility
Of course, this is hardly the first time that unscrupulous business partners and financial advisors have taken advantage of celebrities and athletes, or that famous figures accused their managers of doing so. But it does broach the topic of the level of responsibility that is owed to clients by their financial advisors, regardless of the amount of money in question. Ethical financial advisors should be willing to furnish the following information to their clients at the beginning of their relationship:
A complete breakdown of all fees and expenses that will be charged
A specific, itemized list of services to be provided and the circumstances under which they will be performed
The advisor’s complete background history
The broker-dealer that the advisor works for (if applicable)
Ethical advisors must also follow a strict set of rules when it comes to managing client funds. Under no circumstances can the advisor commingle client funds with their own (unless perhaps the client is an immediate family member). They are likewise prohibited from generating transactions for their clients without prior authorization unless they have been granted power of attorney or a trading authorization beforehand. And the transactions that they generate have to be in the clients’ best interests. They cannot perform a transaction simply for the purpose of generating a commission. (For more, see: Fiduciary Advisors vs. Commission-Based Advisors.)
Advisors who have what is known as a fiduciary duty to their clients must also disclose any possible conflicts of interest that they have to their clients before entering into any sort of agreement. A breach of this duty occurs when the advisor fails to put your interests ahead of his or her own or acts in an unethical fashion. A breach of fiduciary duty can include committing securities violations, providing false or misleading information or failure to adequately handle or supervise the handling of client assets.
However, advisors do have the right to defend themselves if you take them to court or an arbitration hearing. If you feel that your advisor has shortchanged you in some fashion, be sure that you can gather written evidence to that effect (i.e. documentation of actual transactions that were performed versus what the advisor said he or she would do in the initial client agreement). Although a mere verbal claim may stick on the advisor’s record, it probably won’t be sufficient to grant you monetary restitution.
The Bottom Line
Even financial advisors who are not technically held to a fiduciary standard are still required to make suitable investment recommendations and handle your money in an ethical and professional manner. Those who are held to a fiduciary duty are required to unconditionally put your best interests ahead of their own in all of their business dealings.
Walkingstick: Governor of the Central Bank opens new headquarters of the Association of Iraqi private banks
Since 16/02/2017 21:30 (Baghdad time)
Inaugurated governor of the Iraqi Central Bank on the Keywords, on Thursday, the new headquarters of the Association of Iraqi private banks
A statement of the association got / balances News / a copy of it, “celebrated in the presence of Governor of the Central Bank of Iraq, a professor on the Keywords and MP Dr. Mehdi al-Hafez and heads of boards of commissioners and directors of private banks and economic figures.”
The statement added that “the President of the Association meek Handal accept it during a speech at the great efforts that have been made in the reconstruction and development of the headquarters of the Association and praised the efforts made in its implementation,” noting that “Handal touched on the main activities undertaken by the Association in cooperation and coordination with the Central Bank of Iraq in various fields “
The statement said that “the central bank governor on the Keywords, praised the way the word through the great role played by the association in the field of training of bank personnel, and called on banks to make more efforts for the advancement of the banking sector.
He explained that the ceremony Tll signing of a Memorandum of Understanding between the undercut banks and the Institute for the progress of the development policies and signed by Messrs Wadih Handal, President of the Association, and Dr. Mehdi al-Hafez president of the institute included joint cooperation and coordination between the two parties, “./ ended 29