Dinar Updates:
Poppy3 HOW LONG HAS POPPY3 BEEN TELLING ALL OF YOU THAT A FLOAT WOULD NOT HAPPEN?
THREE YEARS NOW BECAUSE IT WILL NOT WORK AND THE CBI HAS ALWAYS INDICATED THEY NEED A FLAT RATE.
MY OPINION IS A MEDIAN START RATE SHOULD BE IN THE $3.00 RANGE.
FROM DR SHABIBI TILL TODAY THE CBI HAVE ALWAYS SAID THEY WANTED A FLAT RATE THEY CAN MAINTAIN AND GROW THEIR ECONOMY OVER A 24 TO 36 MONTH BEFORE THEY ALLOW THE FLOAT.
dinarupdates.com
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Poppy3 HOW LONG HAS POPPY3 BEEN TELLING ALL OF YOU THAT A FLOAT WOULD NOT HAPPEN?
THREE YEARS NOW BECAUSE IT WILL NOT WORK AND THE CBI HAS ALWAYS INDICATED THEY NEED A FLAT RATE.
MY OPINION IS A MEDIAN START RATE SHOULD BE IN THE $3.00 RANGE.
FROM DR SHABIBI TILL TODAY THE CBI HAVE ALWAYS SAID THEY WANTED A FLAT RATE THEY CAN MAINTAIN AND GROW THEIR ECONOMY OVER A 24 TO 36 MONTH BEFORE THEY ALLOW THE FLOAT.
dinarupdates.com
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TNT:
Iko Ward: My WM who used to acknowledge everything won't acknowledge anything now. But when this POPS I guarantee my phone will be ringing 10 seconds later.
TennWolfMan: want some good news? --my army buddy that lives in Nebraska got called i n by his WM and he emailed me late last night and told me he now has a SKR and when we RV they will call him back in for an exchange
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Stage3Alpha:
ShirleeB: The French are interesting people, however, some of them seem to be very sneaky, someone in France who had access to a delarue machine with plates made over 100 quadtrillion extra dinars for themselves, that is one of the issues, but according to those who know more than I say they are known to those that matter, seems the dinars sent to USA will be fine.
I am always interested in what exogen has to say - I still remember when he was contacted by someone in some agency that would give him intel,
just like jester who also was contacted, jester is tired of his reporting the facts and is leaving the scene, tonight is his last chat, he says his intel (unless he says something different tonight) is Plan C will bring us the RV in Sept/Oct 2016. so go and have fun doing something else til then, just like ex did with his Plan B. At least it is coming at some point.
EXOGEN: SEPTEMBER 2016 WAS THE DATE THROWN OUT FOR THE CURRENCY OF CHINA TO HIT THE SDR BASKET
ShirleeB: Hello Exogen, do you feel that jester's Plan C is correct? that when the Yuan goes live in the IMF basket that is when they will allow the RV to happen? or do you think there could be an upset and it happen sooner? I trust your opinion.
EXOGEN: I HAVE NOT READ JESTERS PLAN "C"
HOWEVER THE YUAN BECOMING RESERVE CURRENCY IN CONJUNCTION WITH CIPS & SDR BASKET FOR GLOBAL EXPANSION IS DEFINITELY THE NEXT BIG THING.
IRAQ DOES NOT NEED AN RV OR AN RI TO RUN AND OPERATE THEIR COUNTRY
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ShirleeB: hmmmmmm, here is what he said: that his intel sources said they have made a new agreement, he calls it Plan C. that China agreed to wait until Sept/Oct 2016 to be one of the reserve currency’s,
that the IMF would tell the world after this next meeting that the Yuan will be put into the basket of currency's in Sept/Oct 2016, that would give China more time to prepare for the fact that their currency will start to be used by many countries, that they are not fully prepared at this moment,
that China will not crash the petro-dollar at this time, but it will happen more slowly starting when the Yuan is in the basket.
Jester's Plan B that was going to happen now would of crashed the dollar and banks and cause untold misery for the USA, China is willing to let that happen in a slower motion by agreeing to wait until end of 2016 to go forward. either way Plan B or C will change how the world deals with the USA going forward.
I was wondering if you think there could be something going on now that could speed up the whole process?
Jester told everyone to find something else to do until the Yuan is in the basket next Sept/Oct. he is expected to have his last chat tonight, hopefully he will give an update on his thoughts but as of that chat on Tuesday it was still Plan C.
EXOGEN: THIS IS NOT NEW INTEL OR ANYTHING FROM HIGH UP SOURCES. THE IMF TOLD THE WORLD THIS ON AUGUST 19.
IMF Board Sets September 2016 as Earliest Yuan Can Join SDR
The International Monetary Fund pushed back until Sept. 30, 2016, the date that China’s yuan could be included in its basket of reserve currencies.
The executive board, which represents the IMF’s 188 member nations, voted Aug. 11 to extend the composition of the fund’s Special Drawing Rights for nine months, the Washington-based fund said Wednesday in a statement. IMF staff in July had recommended the extension to minimize disruption if the board decides to add the yuan to the basket, which includes the U.S. dollar, euro, yen and British pound.
“While the board is currently expected to complete the review in November 2015, staff sees merit in agreeing now on a limited extension of the current valuation basket,” the IMF said in a separate report released Wednesday.
The offshore yuan fell as much as 0.4 percent in U.S. hours following the release of the board’s decision and was down 0.2 percent at 1:38 p.m. in New York.
“The headline poses a slight disappointment,” said Mike Moran, head of economic research for the Americas at Standard Chartered Bank in New York.
The IMF is reviewing a bid by China to have the yuan included in the SDR. IMF staff are analyzing whether the yuan qualifies as “freely usable,” a core requirement of joining the SDR. The executive board has the final say on whether the currency is added.
Moran said it’s only a matter of time before the yuan wins the IMF’s endorsement. “As much as some in the market are worrying, this is the path that China, the IMF and the Treasury have been advocating and signaling for quite some time,” he said.
Traders who sold offshore yuan likely overreacted by misinterpreting the board’s decision as a sign the IMF doesn’t think the yuan, also called the renminbi, qualifies for the SDR, said Viraj Patel, a London-based currency strategist at ING Groep NV.
“Our base case remains that the renminbi will clear the ‘freely usable’ hurdle by the end of the year, and will be included in the SDR basket,” he said.
China last week shifted to a more market-determined exchange rate, a move the IMF welcomed as a step toward a freely floated currency.
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ElleR: Christine LaGarde says prosecute the bankers and not just the banks!
IMF chief: Prosecute bankers, not just banks, for malfeasance
International Monetary Fund chief Christine Lagarde said that holding individuals accountable for wrongdoing would be an important way to raise ethics standards in the financial services sector.
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KTFA:
Walkingstick: Currency markets wait to see whether yuan joins the SDR basket
Thu, Nov 05 2015, 10:12 GMT | FXStreet
FXStreet (Mumbai) - The International Monetary Fund (IMF) policy makers are set to meet in November to review whether or not to include the Chinese yuan in the Fund's reserve currency basket. The Chinese government has been lobbying hard to secure a place for the yuan in the Special Drawing Rights basket to raise the global acceptability of the yuan so that more and more countries add yuan to their reserves.
Also, Beijing wants to reduce the dependence of yuan on dollar. In its effort to secure yuan’s place in the SDR basket, the Chinese government has introduced significant reforms in its foreign exchange market. China's deputy central bank governor, Yi Gang has assured trading partners that the efforts to make the currency more flexible will continue.
What are the chances of the yuan being accepted in the SDR basket?
There are two broad criteria that determine whether a currency can be part of the SDR. One of the criteria is that the issuing country has to be a major exporter. China passes this test with flying colours. In the last five years its exports accounted for 11 per cent of the global total.
However, it is the second criteria that experts feel China will not be able to meet. For a currency to be able to be added in the SDR basket it must be freely usable. China’s currency is not freely convertible as it places caps on the following: a) how much cash its residents can take out of the country; b) forces international companies to do extensive paperwork before bringing large sums in; and c) limits foreigners to strict quotas for investing in its capital markets. Thus with respect to convertibility China may not make the mark. An IMF staff mentioned that the yuan is yet to meet operational requirements thereby allowing IMF members to use yuan-denominated instruments to manage reserve holdings and hedge risks.
The deputy central bank governor told the IMF that steps are being taken to improve the transparency of Chinese data, develop representative foreign exchange and interest rates as well as open interbank markets to address operational concerns.
How will its inclusion in SDR basket impact the yuan?
If the IMF decides in favour of including the yuan in the SDR basket despite China’s extensive capital controls, it will pronounce big victory for the PBOC which can then prove that opening up the economy has its own advantages.
The inclusion, if at all, will help to strengthen the yuan’s global profile and reduce its dependence on the dollar. It will not overnight enhance its position to the level of the USD but will definitely go a long way in boosting its international standing. More countries will then be onfident to add the yuan to their currency reserves. The acceptability will increase with more countries using the currency in trading activities.
What if the IMF decides against adding the yuan in the SDR basket?
Depreciation pressure might be further added in case the yuan does not get added in the SDR basket. In the process Beijing's attempts to hold the currency stable without draining its foreign exchange reserves will get further complicated. Also, if the IMF responds in the negative the yuan’s inclusion in the SDR basket will be postponed to 2020 as the SDR’s composition is reviewed only once in 5 years
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Walkingstick: Currency markets wait to see whether yuan joins the SDR basket
Thu, Nov 05 2015, 10:12 GMT | FXStreet
FXStreet (Mumbai) - The International Monetary Fund (IMF) policy makers are set to meet in November to review whether or not to include the Chinese yuan in the Fund's reserve currency basket. The Chinese government has been lobbying hard to secure a place for the yuan in the Special Drawing Rights basket to raise the global acceptability of the yuan so that more and more countries add yuan to their reserves.
Also, Beijing wants to reduce the dependence of yuan on dollar. In its effort to secure yuan’s place in the SDR basket, the Chinese government has introduced significant reforms in its foreign exchange market. China's deputy central bank governor, Yi Gang has assured trading partners that the efforts to make the currency more flexible will continue.
What are the chances of the yuan being accepted in the SDR basket?
There are two broad criteria that determine whether a currency can be part of the SDR. One of the criteria is that the issuing country has to be a major exporter. China passes this test with flying colours. In the last five years its exports accounted for 11 per cent of the global total.
However, it is the second criteria that experts feel China will not be able to meet. For a currency to be able to be added in the SDR basket it must be freely usable. China’s currency is not freely convertible as it places caps on the following: a) how much cash its residents can take out of the country; b) forces international companies to do extensive paperwork before bringing large sums in; and c) limits foreigners to strict quotas for investing in its capital markets. Thus with respect to convertibility China may not make the mark. An IMF staff mentioned that the yuan is yet to meet operational requirements thereby allowing IMF members to use yuan-denominated instruments to manage reserve holdings and hedge risks.
The deputy central bank governor told the IMF that steps are being taken to improve the transparency of Chinese data, develop representative foreign exchange and interest rates as well as open interbank markets to address operational concerns.
How will its inclusion in SDR basket impact the yuan?
If the IMF decides in favour of including the yuan in the SDR basket despite China’s extensive capital controls, it will pronounce big victory for the PBOC which can then prove that opening up the economy has its own advantages.
The inclusion, if at all, will help to strengthen the yuan’s global profile and reduce its dependence on the dollar. It will not overnight enhance its position to the level of the USD but will definitely go a long way in boosting its international standing. More countries will then be onfident to add the yuan to their currency reserves. The acceptability will increase with more countries using the currency in trading activities.
What if the IMF decides against adding the yuan in the SDR basket?
Depreciation pressure might be further added in case the yuan does not get added in the SDR basket. In the process Beijing's attempts to hold the currency stable without draining its foreign exchange reserves will get further complicated. Also, if the IMF responds in the negative the yuan’s inclusion in the SDR basket will be postponed to 2020 as the SDR’s composition is reviewed only once in 5 years
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