Early Tuesday Morning:
TNT:
Iko Ward: Hi ho, hi ho, it's to the banks we go...
vikkimark :GM IKO...are you feeling encouraged this morning?
Iko Ward : Sorry guys, was making breakfast. Yes, I am encouraged.
Natok: everyone read where O lowered the deficit?
Christmas13: Obama lowering the deficit is just the beginning of the end of our ride being leaked out IMO
Seems as though they are camouflaging erasing the deficit...this is just the beginning of the cover up so be patient. Link
Smartblonde55: Am I living in a parallel universe? .....interesting reference to Clinton,though. And we know how he left a surplus;)
....
TNT:
Iko Ward: Hi ho, hi ho, it's to the banks we go...
vikkimark :GM IKO...are you feeling encouraged this morning?
Iko Ward : Sorry guys, was making breakfast. Yes, I am encouraged.
Natok: everyone read where O lowered the deficit?
Christmas13: Obama lowering the deficit is just the beginning of the end of our ride being leaked out IMO
Seems as though they are camouflaging erasing the deficit...this is just the beginning of the cover up so be patient. Link
Smartblonde55: Am I living in a parallel universe? .....interesting reference to Clinton,though. And we know how he left a surplus;)
....
[xyz] cbi: (Press release) Governor of the Central Bank of Iraq to respond to statements that relate to monetary policy 10/11/2015 http://ift.tt/1KtUDii
[xyz] Parliament finish the first reading of the budget worth 106 trillion dinars, and to raise its the day after tomorrow http://ift.tt/1iQT2dW
[xyz] Central Bank: the drop in oil prices did not affect us and our reserves of large currency http://ift.tt/1PzWC98
[xyz] Jordan appoints new finance minister in a surprise move days of the government's talks with the International Monetary Fund for a new program of financial aid after. http://ift.tt/1iQT2dZ
[xyz] International banks need 1.1 trillion euros international banks need 1.1 trillion euros extra to prevent a new global financial crisis, such as those occurred in the wake of the collapse of Lehman Brothers. http://ift.tt/1PzWC9a
[xyz] Delete the zeros of encouraging the flow of funds towards the inside the effect is direct and which can palpation over the long term will serve to encourage the flow of capital towards the inside and that foreign investors will put more confidence in the investment climate, which will improve with time in the country. http://ift.tt/1iQSZPl
[xyz] BP sees steep Iraqi oil output gains unlikely in 2016 http://ift.tt/1PzWC9c
[xyz] Supreme Judicial Council is a judicial investigative body to look at the documents Chalabi http://ift.tt/1iQT2uf
************************************
Late Monday Night:
TNT:
DaddyShark: Lou Dobbs on Fox announced thonight that officially tomorrow the Chinese Juan will be pegged to the Swiss Franc. Anyone think that may be a major event that may be GCR related?
Mangelo: daddyshark it could be
Tightwad: my first thought is - swiss franc is very stable. - looks to me like super pairing
************
Tishwash: Announcement: From the CBI to Warka Bank....
http://ift.tt/1PzWC9f
The Central Bank of Iraq expresses its warm greeting,
We would like to inform that as part of the Warka Bank rehabilitation plan
the Central Bank of Iraq hereby approves the practice of all your banking
activities in accordance with your banking licenses issued by the Central
Bank of Iraq in accordance with Central Bank of Iraq bylaws and
regulations which includes the entry into the CBI bid auction for the
purchase and sale of foreign currency.
Best regards, Salman Eidan Abdullah
Director General
********************************
Stage3Alpha:
EXOGEN: China to Allow Direct Conversion Between Yuan and Swiss Franc
Fion Li fion_li November 9, 2015 — 4:59 AM EST
China took another step to boost the yuan’s global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund.
The link will start on Tuesday, the China Foreign Exchange Trade System said in a statement, making the franc the seventh major currency that can bypass a conversion into the U.S. dollar and be directly exchanged for yuan. The rate will be allowed to fluctuate a maximum 5 percent on either side of a daily fixing, according to CFETS.
“This is an important step in strengthening bilateral economic and trade connections between China and Switzerland,” the People’s Bank of China said in a statement on its website on Monday. The link will help lower conversion costs and facilitate the use of both currencies in bilateral trade, it added.
The announcement, which confirmed an earlier report, comes as the IMF prepares to meet this month to review its Special Drawing Rights. The executive board of the Washington-based institution will gauge whether the Chinese currency has fulfilled the criterion of being "freely usable," after rejecting its bid in 2010. The other major currencies that can be directly converted into yuan are the U.S., Australian and New Zealand dollars, the British pound, the Japanese yen and the euro.
The PBOC this year extended Switzerland a 50 billion yuan ($7.9 billion) quota under the Renminbi Qualified Foreign Institutional Investor program, which allows yuan raised offshore to be used to buy securities in China’s domestic markets. In 2014, the Swiss and Chinese central banks signed a three-year currency-swap agreement that can be used to borrow as much as 150 billion yuan.
[xyz] Parliament finish the first reading of the budget worth 106 trillion dinars, and to raise its the day after tomorrow http://ift.tt/1iQT2dW
[xyz] Central Bank: the drop in oil prices did not affect us and our reserves of large currency http://ift.tt/1PzWC98
[xyz] Jordan appoints new finance minister in a surprise move days of the government's talks with the International Monetary Fund for a new program of financial aid after. http://ift.tt/1iQT2dZ
[xyz] International banks need 1.1 trillion euros international banks need 1.1 trillion euros extra to prevent a new global financial crisis, such as those occurred in the wake of the collapse of Lehman Brothers. http://ift.tt/1PzWC9a
[xyz] Delete the zeros of encouraging the flow of funds towards the inside the effect is direct and which can palpation over the long term will serve to encourage the flow of capital towards the inside and that foreign investors will put more confidence in the investment climate, which will improve with time in the country. http://ift.tt/1iQSZPl
[xyz] BP sees steep Iraqi oil output gains unlikely in 2016 http://ift.tt/1PzWC9c
[xyz] Supreme Judicial Council is a judicial investigative body to look at the documents Chalabi http://ift.tt/1iQT2uf
************************************
Late Monday Night:
TNT:
DaddyShark: Lou Dobbs on Fox announced thonight that officially tomorrow the Chinese Juan will be pegged to the Swiss Franc. Anyone think that may be a major event that may be GCR related?
Mangelo: daddyshark it could be
Tightwad: my first thought is - swiss franc is very stable. - looks to me like super pairing
************
Tishwash: Announcement: From the CBI to Warka Bank....
http://ift.tt/1PzWC9f
The Central Bank of Iraq expresses its warm greeting,
We would like to inform that as part of the Warka Bank rehabilitation plan
the Central Bank of Iraq hereby approves the practice of all your banking
activities in accordance with your banking licenses issued by the Central
Bank of Iraq in accordance with Central Bank of Iraq bylaws and
regulations which includes the entry into the CBI bid auction for the
purchase and sale of foreign currency.
Best regards, Salman Eidan Abdullah
Director General
********************************
Stage3Alpha:
EXOGEN: China to Allow Direct Conversion Between Yuan and Swiss Franc
Fion Li fion_li November 9, 2015 — 4:59 AM EST
China took another step to boost the yuan’s global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund.
The link will start on Tuesday, the China Foreign Exchange Trade System said in a statement, making the franc the seventh major currency that can bypass a conversion into the U.S. dollar and be directly exchanged for yuan. The rate will be allowed to fluctuate a maximum 5 percent on either side of a daily fixing, according to CFETS.
“This is an important step in strengthening bilateral economic and trade connections between China and Switzerland,” the People’s Bank of China said in a statement on its website on Monday. The link will help lower conversion costs and facilitate the use of both currencies in bilateral trade, it added.
The announcement, which confirmed an earlier report, comes as the IMF prepares to meet this month to review its Special Drawing Rights. The executive board of the Washington-based institution will gauge whether the Chinese currency has fulfilled the criterion of being "freely usable," after rejecting its bid in 2010. The other major currencies that can be directly converted into yuan are the U.S., Australian and New Zealand dollars, the British pound, the Japanese yen and the euro.
The PBOC this year extended Switzerland a 50 billion yuan ($7.9 billion) quota under the Renminbi Qualified Foreign Institutional Investor program, which allows yuan raised offshore to be used to buy securities in China’s domestic markets. In 2014, the Swiss and Chinese central banks signed a three-year currency-swap agreement that can be used to borrow as much as 150 billion yuan.
Dinar Updates:
BGG Article quote: "the Council of Ministers may ask the Central Bank "soon" to leave the currency auction and resorting to "float the dollar"; because according to sources provides state what it called "significant returns Dinareh", to feed the state treasury, the dollar exchange rate..."
While I am not sure it's going to be some measure of a "float" (though it may well be what they finally resort to)... what is VERY INTERESTING is the timing. ...
it fully appears they are headed towards some currency adjustment with the intent of bridging this budget gap... It sounds like to me - (the "float" term could mean several things)... they are intent on something happening soon. ...
my opinion (and that is all it is...) - if such an event occurs - it will likely move up very quickly (relatively speaking, of course)...
IMHO - it won't take long to reach a realistic value (and that is what would help their budget).
************
Firefly: IMO it will RI to its former rate plus 20% for inflation according to documents then it will remain a managed float of 2% up or down. This is just my opinion basing it on documents.
Remember...NOBODY knows what it will actually come out at. The WB and IMF put something into International banking law a few years back so unless it has changed I'm sticking with it.
1:1 would not help them...IMO. They need money and they need it now.
They only have one chance to get this right. Any miscalculations could cause disaster... AND...Their debt is much higher than a 1:1 could fulfill.
Q: [do you think a chance this year?]
Firefly: I don't do dates but would be very surprised if it did...get out of 2015 that is. I know one thing for fact...They wouldn't be doing all this talking and planning unless they intended to do something and SOON. I'm expecting something soon. I believe they are very close.
via Dinar Recaps - Our Blog http://ift.tt/1iQT2uh
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