Emailed To Recaps:
From Martha
If it is to happen soon, I don't see any action until after 12 midnight our time with multiple venues flipping switches.
We are hearing that China would be the one to light the fire/trigger but must be careful not to flood the system too fast although a crash is indicated in stocks, bonds, currency and commodities.
The confusion would abound but IMO it would sure be a great time to slip in a RV/GCR to save the world from a failing financial system. Only time will tell.
All signs still point to Tuesday 12-15-2015
....
From Martha
If it is to happen soon, I don't see any action until after 12 midnight our time with multiple venues flipping switches.
We are hearing that China would be the one to light the fire/trigger but must be careful not to flood the system too fast although a crash is indicated in stocks, bonds, currency and commodities.
The confusion would abound but IMO it would sure be a great time to slip in a RV/GCR to save the world from a failing financial system. Only time will tell.
All signs still point to Tuesday 12-15-2015
....
.................
Draghi: We're ready and able to intensify QE http://ift.tt/1QIgSpE
Is he ready to take the heat for the death of the Euro? 20 countries will say good-bye, not to membership but to a currency that has no hope of surviving amongst countries that will use their own.
A sovereign country should be able to handle it's own currency for that very reason.
Wow, here is the map for change and no hedging!!! Good old fashion banking.
http://ift.tt/1ROb4Mf
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TNT:
Uenvoy : Went to my bank today and spoke with the Foreign Exchange person.. Did you know that all Wells Fargo now have a Foreign currency person onsite, for all the big banks in your area. She told me that Wells Fargo spent millions to get everyone trained before the new year. And that when the time comes she would give me a call. Now that is confirmation, if I do say so.
flybaby777 : Art (on open mic call) also said Reno should go tonight also ... and peeps notifications out tonight/AM .. and sanctions be lifted in 1-2 days for rial to be reinstated... not going in basket it's a ri and can go when sanctions lifted
Dinera: Art is Artmiester from the Alabama Calls. Alabama stopped doing calls but Art still has many contacts and he is sincere and always says it is rumortell until it happens.
[LAS] Iko (on open mic csll) - Asset back can be explained by "shift in buying power".
its as if you are going back to 1970.
Asset back is a abstract thing to get comfortable with...
Asset backed...the country's asset whether it be corn, gold, minerals, military might, brain trust, etc
he (Iko) sure is looking for it to go tonight...markets are looking for this today
[Sallypuff] LAS - I don't know how they can add much more positive news on OM than what you already posted. It certainly looks like we should either see this tonight, or tomorrow or NO later that the 16th.
LOU: IKO had the same Intel as Art about the attempt on the RV around 4:30 pm today. There has been a short delay and they will try again. IKO is expecting this tonight
Gator: I pray IKO and Art are right.
[Sallypuff] This is a repeat for those who can only see current posts, and can't scroll up. jumpinjackflash wrote 2m ago Ole...IKO and Art said an attempt was made at 430 and they will try again tonight possibly in the wee hours...they are both in agreement that it could go tonight.
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Rrrr: “If you build it, it will come”. It has been built! It will come without all the judging, blaming, analyzing, miss-informing, complaining, and negative comments! Seize this Moment of RV. It’s a truly magical moment. Be in awe that you were chosen to receive this Blessing. Don’t try to touch it. Just feel its presence. Don’t try to understand it. Just know that it is here. No questions, No doubt. When the time is perfect, the universe will Break it Out.
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Stage3Alpha:
Wilber Grodan: MARKET ACTION - Undervalued currencies are ready to ADVANCE!!!
Bumblebee: Back in 2008, the gas prices dropped to $35 per barrel and there was a run to sell off junk bonds, and the worst recession since the great depression of the 30s, which is what is transpiring at this very moment.
The only way to continue to prop up the USD is to revalue the IQD, (IMO) before economies implodes.
http://ift.tt/QTzn7r
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KTFA:
KTFA Monday Night Conference Call
Approx. 128 minutes long
The first part is Business Promo and the second part is Dinar/Iraq Intel
PLAYBACK # : 641.715.3639 PIN: 156996#
http://ift.tt/1O1i5U1
Emailed to Recaps:
China’s Central Bank Prepares Yuan for Fed Hike, Dollar De-Peg
Monday, Dec 14, 2015 1:25 pm -06:00 by Renee Mu
- PBOC has issued guidance on the Chinese Yuan in anticipation of a broader change
- The Yuan-US Dollar peg is coming to an end as US and Chinese macroeconomic trends decouple
- The central bank has set the tone for the Yuan to track a broader basket of currencies
The CFETS, a branch of the central bank of China issued a commentary for the new Yuan Index and made important interpretations for index itself and the yuan exchange rate regime. The CFETS is a branch of PBOC located in Shanghai which is authorized by PBOC headquarters to publish market data on a daily basis.
First, reference to a basket of currencies does not mean pegging to a basket of currencies or adjusting the yuan’s exchange rate the solely based on the movements of the yuan’s index. Market supply and demand is another important reference. The floating and flexible exchange rate is an outcome of these two factors combined with necessary management.
It is actually not the first time that China decided to adopt a yuan exchange rate regime based on market supply and demand, referred to a basket of currencies and under managed floating.
On July 21, 2005, PBOC made an official announcement to launch such an exchange rate formation regime. Then the yuan onshore rate started to appreciate against the dollar after remained fixed at around 8.28 for 10 years. In early 2009, due to the global financial crisis, the Chinese regulators decided to hitch the yuan to the dollar again until now.
The short-term purpose of de-pegging the yuan to the dollar is to prepare for the Fed hike in the following days and gives yuan more flexibility to move away against the dollar. The longer-term purpose, more importantly, is to make the yuan movements consistent with the development of China’s economy.
China choosing to hitch yuan to the dollar in early 2009 was to stabilize the economy during the global financial crisis. Both China’s and US’s economy were moving into the same direction at that time—into a downtrend. However, after six years, China and the US are in different places. The US has seen a gradual recovery with growing employment and stable inflation, while China is trapped in slow growth amid falling export and foreign reserves numbers.
As a result, maintaining the same trend in currency movements as US does is no longer a good choice for China. Remember, a lot of countries in the European Union struggled in the past as they had to follow the monetary policy mainly determined by Germany yet not fit for their own economies. Thus, China would rather to keep independent on its monetary policy.
In the commentary, it is also said that [PBOC acknowledges that] it will take time for the market to adjust and adapt to the new exchange rate regime. In addition, in general speaking, all the available yuan indexes indicate that the yuan exchange rate has been relatively stable against a basket of currencies since the beginning of this year.
The central bank now redefines the meaning of the stability of yuan. Yuan’s relative stability to a basket of currencies—especially to its trading partners—now matters more than solely its exchange rate versus the dollar.
The CFETS index and Bank of China’s OBOR Yuan Index, another new issued index, are both trade-weighted indexes. It means that the central bank guides the market to see the Chinese currency from a trade point of view. And this also leaves room for yuan to move away from the dollar not just in this week but in a longer term.
Written by Renee Mu, DailyFX Research Team
http://ift.tt/1QIgSpG
China’s Central Bank Prepares Yuan for Fed Hike, Dollar De-Peg
Monday, Dec 14, 2015 1:25 pm -06:00 by Renee Mu
- PBOC has issued guidance on the Chinese Yuan in anticipation of a broader change
- The Yuan-US Dollar peg is coming to an end as US and Chinese macroeconomic trends decouple
- The central bank has set the tone for the Yuan to track a broader basket of currencies
The CFETS, a branch of the central bank of China issued a commentary for the new Yuan Index and made important interpretations for index itself and the yuan exchange rate regime. The CFETS is a branch of PBOC located in Shanghai which is authorized by PBOC headquarters to publish market data on a daily basis.
First, reference to a basket of currencies does not mean pegging to a basket of currencies or adjusting the yuan’s exchange rate the solely based on the movements of the yuan’s index. Market supply and demand is another important reference. The floating and flexible exchange rate is an outcome of these two factors combined with necessary management.
It is actually not the first time that China decided to adopt a yuan exchange rate regime based on market supply and demand, referred to a basket of currencies and under managed floating.
On July 21, 2005, PBOC made an official announcement to launch such an exchange rate formation regime. Then the yuan onshore rate started to appreciate against the dollar after remained fixed at around 8.28 for 10 years. In early 2009, due to the global financial crisis, the Chinese regulators decided to hitch the yuan to the dollar again until now.
The short-term purpose of de-pegging the yuan to the dollar is to prepare for the Fed hike in the following days and gives yuan more flexibility to move away against the dollar. The longer-term purpose, more importantly, is to make the yuan movements consistent with the development of China’s economy.
China choosing to hitch yuan to the dollar in early 2009 was to stabilize the economy during the global financial crisis. Both China’s and US’s economy were moving into the same direction at that time—into a downtrend. However, after six years, China and the US are in different places. The US has seen a gradual recovery with growing employment and stable inflation, while China is trapped in slow growth amid falling export and foreign reserves numbers.
As a result, maintaining the same trend in currency movements as US does is no longer a good choice for China. Remember, a lot of countries in the European Union struggled in the past as they had to follow the monetary policy mainly determined by Germany yet not fit for their own economies. Thus, China would rather to keep independent on its monetary policy.
In the commentary, it is also said that [PBOC acknowledges that] it will take time for the market to adjust and adapt to the new exchange rate regime. In addition, in general speaking, all the available yuan indexes indicate that the yuan exchange rate has been relatively stable against a basket of currencies since the beginning of this year.
The central bank now redefines the meaning of the stability of yuan. Yuan’s relative stability to a basket of currencies—especially to its trading partners—now matters more than solely its exchange rate versus the dollar.
The CFETS index and Bank of China’s OBOR Yuan Index, another new issued index, are both trade-weighted indexes. It means that the central bank guides the market to see the Chinese currency from a trade point of view. And this also leaves room for yuan to move away from the dollar not just in this week but in a longer term.
Written by Renee Mu, DailyFX Research Team
http://ift.tt/1QIgSpG
via Dinar Recaps - Our Blog http://ift.tt/1O1i4iU
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