KTFA:
Thunderhawk: » August 11th, 2015, Backdoc MEGA ALERT
OZ PULLS BACK THE CURTAIN
Dollar could suffer if U.S. walks away from Iran deal: Kerry
If the United States walks away from the nuclear deal struck with Iran last month in Vienna and demands that its allies comply with U.S. sanctions, the dollar may soon cease to be the world's reserve currency, the top U.S. diplomat said on Monday.
"If we turn around and nix the deal and then tell them, you're going to have to obey our rules and sanctions anyway, that is a recipe, very quickly .... for the American dollar to cease to be the reserve currency of the world," U.S. Secretary of State John Kerry said at a Reuters Newsmaker event.
He added that it would be impossible for Iran, under the nuclear agreement between Iran and major powers, to create a secret program for developing atomic fuel without the United States being able to detect it.
....
Thunderhawk: » August 11th, 2015, Backdoc MEGA ALERT
OZ PULLS BACK THE CURTAIN
Dollar could suffer if U.S. walks away from Iran deal: Kerry
If the United States walks away from the nuclear deal struck with Iran last month in Vienna and demands that its allies comply with U.S. sanctions, the dollar may soon cease to be the world's reserve currency, the top U.S. diplomat said on Monday.
"If we turn around and nix the deal and then tell them, you're going to have to obey our rules and sanctions anyway, that is a recipe, very quickly .... for the American dollar to cease to be the reserve currency of the world," U.S. Secretary of State John Kerry said at a Reuters Newsmaker event.
He added that it would be impossible for Iran, under the nuclear agreement between Iran and major powers, to create a secret program for developing atomic fuel without the United States being able to detect it.
....
http://ift.tt/1No3DXH
IMO THIS IS THE MOST IMPORTANT ARTICLE OF THE DAY....THANKS DOC
BRACE FOR SEPTEMBER FAMILY!!!!!! Blessings ThunderHawk
**********
bernice :Frank that posted was talking about it Kerry walks away from Iran will that affect us with dinar...I know dollar will devalue...but iqd too?????:gracias:
Frank26: CC NOTES:
Our government plays with us and pretends they are debating the Iran deal.
It is United Nations APPROVED !!!
Oil from Iran is POURING into the world .......... And Funds are POURING into Iraq banks.
Ok with me.
AGGIEDAD ......... i thought A was on fire .......... You are one of The Fantastic Four today....... FLAME ON !!! Nice work Sir. KTFA Frank
************
Aggiedad77: No flame...... Just following the leader and the dots
Just as the alphabet does....everything starts with "A"
Oh what an interesting week this is going to turn into
Water...check....Popcorn....check....WS on deck....check....Blue posts spray painted....check
What more do we need Aloha Randy
***************************
I4U:
[BigDog-OH] China's devaluation fires cannon in global currency war...8/11/2015
The global "currency war" entered a new phase on Tuesday as China's surprise devaluation threatened to unleash competitive devaluations and keep monetary policy around the world looser for longer, perhaps even forcing the U.S. Federal Reserve to delay its expected interest rate rise.
"Currency wars", a phrase used by Brazil's former finance minister Guido Mantega in 2010 to describe how competing countries explicitly or implicitly weaken their exchange rates to boost exports, have intensified in recent years.
As interest rates have fallen to zero in some developed economies and money printing has proliferated, exchange rate policy has become one of the few remaining levers to stimulate business activity and in some cases avoid deflation. So investors are now concerned that China may elect to keep pushing the yuan lower.
"Any devaluation greater than five to seven percent would be a serious problem for global markets and China's trading partners," said Ashraf Laidi, chief executive officer at Intermarket Strategy Ltd, a research firm in London.
The European Central Bank's move to quantitative easing in March, for example, was widely seen as a way for the euro zone to weaken what was seen as an overvalued euro and prevent a deflationary spiral in many of its heavily indebted countries.
The Bank of Japan's latest wave of money printing was also designed to weaken the yen.
Against that backdrop, China's tight peg to an appreciating U.S. dollar meant the yuan's real trade-weighted exchange rate had climbed more than 10 percent over the past year, even as its economic growth slowed and exports slumped.
But the near-2.0 percent devaluation of the yuan on Tuesday suggested Beijing was willing to risk pushing other Asian emerging market currencies lower in turn and brave fresh trade tensions with the United States.
U.S. DOLLAR'S STEEP RISE
The U.S. dollar has risen 20 percent on a trade-weighted basis in the past year. This de facto tightening of monetary policy has eroded the competitiveness of U.S. exports, eaten into economic growth and diminished company profits repatriated from overseas.
"(The yuan devaluation) puts the Fed in a difficult spot. It opens the possibility that the Fed might delay (a rate increase)," said Patrick Chovanec, chief strategist at Silvercrest Asset Management in New York. "On its own, it makes it harder to raise rates."
Over the past decade, the U.S. Congress has pressed Beijing to loosen its dollar-pegged exchange rate to allow the yuan to appreciate, arguing that trillions of dollars of currency market intervention had depressed the yuan artificially and given China an unfair trade advantage on global export markets.
That U.S. policy made sense with China's economy growing 10 percent per annum, attracting hundreds of billions of dollars of global capital every year, but with growth expected to slow to its weakest in 25 years and Beijing depleting foreign reserves to offset a big outflow of capital, a looser exchange rate regime now means a weaker yuan.
The People's Bank of China described its move on Tuesday as a "one-off depreciation" of the yuan and billed it as a free-market reform but the move may have implications for the Federal Reserve's plans to raise interest rates over the next 12 months.
Many analysts expect the Fed to raise rates in September, and both Fed officials and economists do not see China's actions as having much effect on that initial move but future policy may be another matter should the dollar keep rising.
"The overnight devaluation of the Chinese yuan will likely be seen by Fed officials as a minor headwind to growth, but is not significant enough to change our base view of September liftoff," wrote Michael Feroli, economist at J.P. Morgan Chase, on Tuesday.
The yuan's slide to a three-year low instantly rippled across the world markets. South Korea's won fell 1.6 percent against the dollar, its biggest fall in 10 months, and South African central bank governor Lesetja Kganyago said his country's exports would be less competitive.
PRESSURE ON ASIAN CURRENCIES
"If China is really moving towards greater alignment with the market, which implies greater yuan weakness, this may be a factor that adds more pressure on China-related currencies," Barclays Asia-based strategists said in a note on Tuesday.
Their counterparts at Morgan Stanley also said Asian currencies excluding the yen were likely to slide against the U.S. dollar.
Many emerging market currencies, including the Malaysian ringgit, Indonesian rupiah and Brazil's real, had already slumped to their weakest levels against the dollar in over a decade as capital fled their slowing economies.
The big question now for emerging markets, where growth has slowed and capital flight has increased dramatically this year, is whether their officials respond to China's move in kind.
"It was inevitable that China would join the currency war at some point. The key will be the response of other central banks ... There should be further pressure on the currencies of China's trade partners," said Nick Lawson, managing director at Deutsche Bank in London.
Central banks dumped as much as $260 billion of foreign exchange reserves in the second quarter as emerging market central banks tried to mitigate the impact of capital fleeing their own economies.
The decline was the largest drop in global foreign exchange reserves in more than a decade, outstripping the depletion in 2008-09 when central banks frantically tried to manage the fallout from the global financial crisis.
http://ift.tt/1N1fg9L
IMO THIS IS THE MOST IMPORTANT ARTICLE OF THE DAY....THANKS DOC
BRACE FOR SEPTEMBER FAMILY!!!!!! Blessings ThunderHawk
**********
bernice :Frank that posted was talking about it Kerry walks away from Iran will that affect us with dinar...I know dollar will devalue...but iqd too?????:gracias:
Frank26: CC NOTES:
Our government plays with us and pretends they are debating the Iran deal.
It is United Nations APPROVED !!!
Oil from Iran is POURING into the world .......... And Funds are POURING into Iraq banks.
Ok with me.
AGGIEDAD ......... i thought A was on fire .......... You are one of The Fantastic Four today....... FLAME ON !!! Nice work Sir. KTFA Frank
************
Aggiedad77: No flame...... Just following the leader and the dots
Just as the alphabet does....everything starts with "A"
Oh what an interesting week this is going to turn into
Water...check....Popcorn....check....WS on deck....check....Blue posts spray painted....check
What more do we need Aloha Randy
***************************
I4U:
[BigDog-OH] China's devaluation fires cannon in global currency war...8/11/2015
The global "currency war" entered a new phase on Tuesday as China's surprise devaluation threatened to unleash competitive devaluations and keep monetary policy around the world looser for longer, perhaps even forcing the U.S. Federal Reserve to delay its expected interest rate rise.
"Currency wars", a phrase used by Brazil's former finance minister Guido Mantega in 2010 to describe how competing countries explicitly or implicitly weaken their exchange rates to boost exports, have intensified in recent years.
As interest rates have fallen to zero in some developed economies and money printing has proliferated, exchange rate policy has become one of the few remaining levers to stimulate business activity and in some cases avoid deflation. So investors are now concerned that China may elect to keep pushing the yuan lower.
"Any devaluation greater than five to seven percent would be a serious problem for global markets and China's trading partners," said Ashraf Laidi, chief executive officer at Intermarket Strategy Ltd, a research firm in London.
The European Central Bank's move to quantitative easing in March, for example, was widely seen as a way for the euro zone to weaken what was seen as an overvalued euro and prevent a deflationary spiral in many of its heavily indebted countries.
The Bank of Japan's latest wave of money printing was also designed to weaken the yen.
Against that backdrop, China's tight peg to an appreciating U.S. dollar meant the yuan's real trade-weighted exchange rate had climbed more than 10 percent over the past year, even as its economic growth slowed and exports slumped.
But the near-2.0 percent devaluation of the yuan on Tuesday suggested Beijing was willing to risk pushing other Asian emerging market currencies lower in turn and brave fresh trade tensions with the United States.
U.S. DOLLAR'S STEEP RISE
The U.S. dollar has risen 20 percent on a trade-weighted basis in the past year. This de facto tightening of monetary policy has eroded the competitiveness of U.S. exports, eaten into economic growth and diminished company profits repatriated from overseas.
"(The yuan devaluation) puts the Fed in a difficult spot. It opens the possibility that the Fed might delay (a rate increase)," said Patrick Chovanec, chief strategist at Silvercrest Asset Management in New York. "On its own, it makes it harder to raise rates."
Over the past decade, the U.S. Congress has pressed Beijing to loosen its dollar-pegged exchange rate to allow the yuan to appreciate, arguing that trillions of dollars of currency market intervention had depressed the yuan artificially and given China an unfair trade advantage on global export markets.
That U.S. policy made sense with China's economy growing 10 percent per annum, attracting hundreds of billions of dollars of global capital every year, but with growth expected to slow to its weakest in 25 years and Beijing depleting foreign reserves to offset a big outflow of capital, a looser exchange rate regime now means a weaker yuan.
The People's Bank of China described its move on Tuesday as a "one-off depreciation" of the yuan and billed it as a free-market reform but the move may have implications for the Federal Reserve's plans to raise interest rates over the next 12 months.
Many analysts expect the Fed to raise rates in September, and both Fed officials and economists do not see China's actions as having much effect on that initial move but future policy may be another matter should the dollar keep rising.
"The overnight devaluation of the Chinese yuan will likely be seen by Fed officials as a minor headwind to growth, but is not significant enough to change our base view of September liftoff," wrote Michael Feroli, economist at J.P. Morgan Chase, on Tuesday.
The yuan's slide to a three-year low instantly rippled across the world markets. South Korea's won fell 1.6 percent against the dollar, its biggest fall in 10 months, and South African central bank governor Lesetja Kganyago said his country's exports would be less competitive.
PRESSURE ON ASIAN CURRENCIES
"If China is really moving towards greater alignment with the market, which implies greater yuan weakness, this may be a factor that adds more pressure on China-related currencies," Barclays Asia-based strategists said in a note on Tuesday.
Their counterparts at Morgan Stanley also said Asian currencies excluding the yen were likely to slide against the U.S. dollar.
Many emerging market currencies, including the Malaysian ringgit, Indonesian rupiah and Brazil's real, had already slumped to their weakest levels against the dollar in over a decade as capital fled their slowing economies.
The big question now for emerging markets, where growth has slowed and capital flight has increased dramatically this year, is whether their officials respond to China's move in kind.
"It was inevitable that China would join the currency war at some point. The key will be the response of other central banks ... There should be further pressure on the currencies of China's trade partners," said Nick Lawson, managing director at Deutsche Bank in London.
Central banks dumped as much as $260 billion of foreign exchange reserves in the second quarter as emerging market central banks tried to mitigate the impact of capital fleeing their own economies.
The decline was the largest drop in global foreign exchange reserves in more than a decade, outstripping the depletion in 2008-09 when central banks frantically tried to manage the fallout from the global financial crisis.
http://ift.tt/1N1fg9L
TNT:
MOT: There was a man who had worked all of his life and had saved all of his money.
He was a real miser when it came to his money. He loved money more than just about anything, and just before he died, he said to his wife, “Now listen, when I die I want you to take all my money and place it in the casket with me. I want to take all my money to the afterlife.”
So he got his wife to promise him with all her heart that when he died, she would put all the money in the casket with him. Well, one day he died.
He was stretched out in the casket, the wife was sitting there in black next to their best friend. When they finished the ceremony, just before the undertakers got ready to close the casket, the wife said, “Wait a minute!”
She had a shoebox with her. She came over with the box and placed it in the casket. Then the undertakers locked the casket and rolled it away.
Her friend said, “I hope you weren’t crazy enough to put all that money in there with that stingy old man.”
She said, “Yes, I promised. I’m a good Christian, I can’t lie. I promised him that I was going to put that money in that casket with him.”
You mean to tell me you put every cent of his money in the casket with him?”
“I sure did,” said the wife. “I got it all together, put it into my account and I wrote him a check.”
***************************
KTFA:
JDTolle » The important things in life
A philosophy professor stood before his class with some items on the table in front of him. When the class began, wordlessly he picked up a very large and empty mayonnaise jar and proceeded to fill it with rocks, about 2 inches in diameter.
He then asked the students if the jar was full. They agreed that it was.
So the professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles, of course, rolled into the open areas between the rocks.
He then asked the students again if the jar was full. They agreed it was.
The professor picked up a box of sand and poured it into the jar. Of course, the sand filled up the remaining open areas of the jar.
He then asked once more if the jar was full. The students responded with a unanimous “Yes.”
“Now,” said the professor, “I want you to recognize that this jar represents your life. The rocks are the important things – your family, your partner, your health, your children – things that if everything else was lost and only they remained, your life would still be full.
The pebbles are the other things that matter – like your job, your house, your car.
The sand is everything else, the small stuff.”
“If you put the sand into the jar first,” he continued, “there is no room for the pebbles or the rocks. The same goes for your life.
If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you. Pay attention to the things that are critical to your happiness. Play with your children. Take your partner out dancing. There will always be time to go to work, clean the house, give a dinner party, or fix the disposal.”
“Take care of the rocks first – the things that really matter. Set your priorities. The rest is just sand.”
Author Unknown
MOT: There was a man who had worked all of his life and had saved all of his money.
He was a real miser when it came to his money. He loved money more than just about anything, and just before he died, he said to his wife, “Now listen, when I die I want you to take all my money and place it in the casket with me. I want to take all my money to the afterlife.”
So he got his wife to promise him with all her heart that when he died, she would put all the money in the casket with him. Well, one day he died.
He was stretched out in the casket, the wife was sitting there in black next to their best friend. When they finished the ceremony, just before the undertakers got ready to close the casket, the wife said, “Wait a minute!”
She had a shoebox with her. She came over with the box and placed it in the casket. Then the undertakers locked the casket and rolled it away.
Her friend said, “I hope you weren’t crazy enough to put all that money in there with that stingy old man.”
She said, “Yes, I promised. I’m a good Christian, I can’t lie. I promised him that I was going to put that money in that casket with him.”
You mean to tell me you put every cent of his money in the casket with him?”
“I sure did,” said the wife. “I got it all together, put it into my account and I wrote him a check.”
***************************
KTFA:
JDTolle » The important things in life
A philosophy professor stood before his class with some items on the table in front of him. When the class began, wordlessly he picked up a very large and empty mayonnaise jar and proceeded to fill it with rocks, about 2 inches in diameter.
He then asked the students if the jar was full. They agreed that it was.
So the professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles, of course, rolled into the open areas between the rocks.
He then asked the students again if the jar was full. They agreed it was.
The professor picked up a box of sand and poured it into the jar. Of course, the sand filled up the remaining open areas of the jar.
He then asked once more if the jar was full. The students responded with a unanimous “Yes.”
“Now,” said the professor, “I want you to recognize that this jar represents your life. The rocks are the important things – your family, your partner, your health, your children – things that if everything else was lost and only they remained, your life would still be full.
The pebbles are the other things that matter – like your job, your house, your car.
The sand is everything else, the small stuff.”
“If you put the sand into the jar first,” he continued, “there is no room for the pebbles or the rocks. The same goes for your life.
If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you. Pay attention to the things that are critical to your happiness. Play with your children. Take your partner out dancing. There will always be time to go to work, clean the house, give a dinner party, or fix the disposal.”
“Take care of the rocks first – the things that really matter. Set your priorities. The rest is just sand.”
Author Unknown
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