Bluedog: SO……. RAMADAN…….. THE GOI (IMO) WILL WORK THRU IT …….. AND THE IRAQI PEOPLE WILL JUST DO THEIR RITUAL AND NOT EAT B4 DUSK BUT DOES THAT REALLY MEAN THE COUNTRY WILL FOLD UP …… I DO NOT THINK SO…
WE SEE THAT FOLKS ARE RETURNING TO AREAS THAT ISIS HELD GATHERING THEIR LIVES BACK ………THE CBI DOES NOT WAIT FOR A SPECIAL DAY ….. THEY JUST MOVE WHEN PRUDENT……..
AS FRANK HAS SAID, NO ONE KNOWS THE DATE OR RATE ….DO NOT WATCH FOR A HOLIDAY FOR THEM OR FOR YOU.
KUWAIT DID NOT WAIT FOR OUR MEMORIAL DAY OR FOURTH OF JULY THEY JUST PULLED IT… THEIR BANKS HAD VERY LITTLE ELECTRIC…
ARE YOU READY?
HOW MUCH WILL YOU EXCHANGE AND HAVE YOU TALKED WITH A LAWYER FIRM THAT HAS ACCOUNTANTS IN THE SAME FIRM ……….. BLUE ……………
PS SEE WE HAVE ALOT TO THINK ABOUT TO HOLD ONTO OUR WEALTH WHAT EVER IT WILL BE ……. BLUE
Upstart: Yup, they revalued during Ramadan
Tina: Didn’t they revalue in March of 1991?
Upstart: Yes indeed they did, during Ramadan.
LINK: Islamic calendar Ramadan 1st day was 18th March 1991.
Kuwait revalued March 24th 1991
The point being made here is that it can be done in Ramadan. Too much myth, legend and folklore in Dinarland about Ramadan…. Life goes on. There is no reason why this cannot proceed during Ramadan.
Don961: Saturday the first day of the month of Ramadan
(Independent) .. Sunni Endowment in Iraq, announced on Friday is complementary to the month of Shaaban and on Saturday is the first day of the holy month of Ramadan.
The head of the Sunni Endowment Abdul Latif Alhmam in a statement delivered today in the mosque of Umm al-Qura in the presence of a number of religious scholars that the legitimate vision of the crescent of the month of Ramadan has not proved on Thursday, so be on Friday complementary to several month of Shaaban, and be on Saturday 27/5/2017 surprise is the holy month of Ramadan for the year 1438 AH.
Religious bodies also announced in Iran, Saudi Arabia and the Kurdistan Region on Friday complementary to the month of Shaaban, to be on Saturday, the first day 05/27/2017
Frank26: (Late Thurs.PM) First of all …………….. US Marines are about to deal with the IMIF/Popular Crowd…………. They are draining the Swamps. Escorting them back to Iran. This plus The UST list of 795 is IMO part of the Lava Flow.
Second …………. As we SHARED on WEDNESDAY CC …………… DODD/FRANK is replied. (repealed?)
The portion that we wanted removed is gone…………. Activated today.This will help the “GO” Deals.
Thirdly ……………… WALKINGSTICK and i talked for over 2 hours. i plan on SHARING this conversation on Your next MONDAY CC………….BUT !!! ……………. I wish to ask You KTFA FAMILY a question :
“What do You think WALKINGSTICK and i talked about tonight?” Please post Your answer …………. WS and i will read them ………..We wish to analyze them with what we have.
WaymakersKid: I think you talked about what a PERFECT STORM of circumstances we are in right now for this to SUDDENLY pop.
Abadi is forced to deal with Iran in his country like he was told to do, forced to RV now that oil situation is settled and rising and to assure his victory in the next election so he can keep improving Iraq, forced to deal with Maliki and corruption charges for him and 795+ others.
It’s Ramadan and his people need this to happen NOW. Mosul is no longer an excuse.
Other countries are putting much pressure and are backing him and banding together to stop terrorism (they need to all help Egypt!).
I am so much more encouraged now than ever before!
Zerb: THE WHOLE WORLD AWAITS ON ONE THING…DODD FRANK AND THE USA, POTUS AND TREASURY SEC……..OPEN THE RV FLOODGATES and MOVE THAT BUS!
What is the future of the Federal Reserve?
What all Pres. Trump did that day. Pretty interesting!)
The White House
Office of the Press Secretary
April 21, 2017
Presidential Memorandum for the Secretary of the Treasury
MEMORANDUM FOR THE SECRETARY OF THE TREASURY
SUBJECT: Orderly Liquidation Authority
Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203 (the “Dodd-Frank Act”), established an Orderly Liquidation Authority (OLA). Using OLA, the Secretary of the Treasury (Secretary) may place a financial company in receivership and initiate liquidation after making a determination, in consultation with the President, that it is in default or in danger of default and its failure and resolution under otherwise applicable law would have serious adverse effects on financial stability in the United States, among other considerations.
Further, under section 203(b) of the Dodd-Frank Act, 12 U.S.C. 5383(b), OLA shall not be invoked unless and until the Secretary determines, in consultation with the President, that use of OLA would “avoid or mitigate” adverse effects on financial stability in the United States, “taking into consideration the effectiveness of the action in mitigating” those potential effects, “the cost to the general fund of the Treasury,” and “the potential to increase excessive risk taking on the part of creditors, counterparties, and shareholders in the financial company.” In addition, section 214(c) of the Dodd-Frank Act, 12 U.S.C. 5394(c), requires that taxpayers shall “bear no losses from the exercise of” OLA.
The existence of OLA, however, may encourage excessive risk taking by creditors, counterparties, and shareholders of financial companies, because section 210(n) of the Dodd-Frank Act, 12 U.S.C. 5390(n), also created an Orderly Liquidation Fund (OLF) in the Treasury of the United States that is authorized to use taxpayer funds to carry out OLA liquidations. While any losses incurred from the use of the OLF are ultimately supposed to be covered by assessments on other financial companies, taxpayer money may always be at risk.
To the extent that OLA provides a Government backstop that shields creditors, counterparties, and shareholders from losses by shifting their losses to the financial sector as a whole, it may reduce market discipline and increase excessive risk taking. Thus, it is critical to understand OLA’s full contours and acknowledge the potentially adverse consequences of its availability and use. If OLA’s availability creates a significant risk-taking incentive, for example, the Secretary may be unable to make determinations justifying its use, as required by section 203(b) of the Dodd-Frank Act.
Additionally, it is important to evaluate the extent to which other legislative solutions, such as changes to title 11 of the United States Code (the “U.S. Bankruptcy Code”), could fulfill OLA’s policy objectives in a more effective manner.
Accordingly, by the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote certainty in the financial markets, I hereby direct you to take the following actions:
Section 1. Review of Orderly Liquidation Authority. (a) The Secretary shall conduct a thorough review of OLA and provide a report to the President within 180 days of the date of this memorandum. The review shall consider:
(i) the potential adverse effects of failing financial companies on the financial stability of the United States;
(ii) whether the framework for using OLA is consistent with the principles set out in sections
1(b) and 1(c) of Executive Order 13772 of February 3, 2017 (Core Principles for Regulating the United States Financial System);
(iii) whether invoking OLA could result in a cost to the general fund of the Treasury;
(iv) whether the availability or use of OLA leads or could lead to excessive risk taking on the part of creditors, counterparties, and shareholders, or otherwise leads market participants to believe that a financial company is “too big to fail”; and
(v) whether a new chapter in the U.S. Bankruptcy Code, in which the claims against a failed financial company would be resolved pursuant to the procedures of bankruptcy law rather than the provisions of the Dodd-Frank Act, would be a superior method of resolution for financial companies.
(b) The review shall include, where applicable and feasible, a quantitative assessment of OLA’s anticipated direct and indirect effects.
(c) The report shall provide recommendations for improvement, including any recommended legislative changes.
Sec. 2. Exercise of Orderly Liquidation Authority. Pending the completion of the review and submission of the recommendations required by section 1 of this memorandum, the Secretary shall, to the extent consistent with law, refrain from making any determination under section 203(b) of the Dodd-Frank Act unless the Secretary determines, in consultation with the President, that the criteria enumerated in section 203(b) require otherwise.
Sec. 3. General Provisions. (a) Nothing in this memorandum shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This memorandum shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
DONALD J. TRUMP