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Monday, November 30, 2015
IMF Approves Reserve-Currency Status for China's Yuan
IMF Approves Reserve-Currency Status for China's Yuan
Bloomberg Business By Andrew Mayeda
The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan.
The International Monetary Fund’s executive board, which represents the fund’s 188 member nations, decided the yuan meets the standard of being “freely usable” and will join the dollar, euro, pound and yen in its Special Drawing Rights basket, the organization said Monday in a statement.
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Bloomberg Business By Andrew Mayeda
The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan.
The International Monetary Fund’s executive board, which represents the fund’s 188 member nations, decided the yuan meets the standard of being “freely usable” and will join the dollar, euro, pound and yen in its Special Drawing Rights basket, the organization said Monday in a statement.
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Approval was expected after IMF Managing Director Christine Lagarde announced Nov. 13 that her staff recommended inclusion, a position she supported.
It’s the first change in the SDR’s currency composition since 1999, when the euro replaced the deutsche mark and French franc. It’s also a milestone in a decades-long ascent toward international credibility for the yuan, which was created after World War II and for years could be used only domestically in the Communist-controlled nation.
It’s the first change in the SDR’s currency composition since 1999, when the euro replaced the deutsche mark and French franc. It’s also a milestone in a decades-long ascent toward international credibility for the yuan, which was created after World War II and for years could be used only domestically in the Communist-controlled nation.
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The IMF reviews the composition of the basket every five years and rejected the yuan during the last review, in 2010, saying it didn’t meet the necessary criteria.
The decision is a “recognition of the progress that the Chinese authorities have made in the past years in reforming China’s monetary and financial systems,” Lagarde said Monday.
“The continuation and deepening of these efforts will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy.”
The addition will take effect Oct. 1, 2016, the IMF said. The fund said the yuan would have a 10.92 percent weighting in the basket. Weightings will be 41.73 percent for the dollar, 30.93 percent for the euro, 8.33 percent for the yen and 8.09 percent for the British pound. The dollar currently accounts for 41.9 percent of the basket, while the euro accounts for 37.4 percent, the pound 11.3 percent and the yen 9.4 percent.
The decision is a “recognition of the progress that the Chinese authorities have made in the past years in reforming China’s monetary and financial systems,” Lagarde said Monday.
“The continuation and deepening of these efforts will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy.”
The addition will take effect Oct. 1, 2016, the IMF said. The fund said the yuan would have a 10.92 percent weighting in the basket. Weightings will be 41.73 percent for the dollar, 30.93 percent for the euro, 8.33 percent for the yen and 8.09 percent for the British pound. The dollar currently accounts for 41.9 percent of the basket, while the euro accounts for 37.4 percent, the pound 11.3 percent and the yen 9.4 percent.
In a preliminary report in July, IMF staff estimated the yuan would have a weight of about 14 percent to 16 percent. The weighting will affect the interest countries pay when they borrow from the IMF. It may also affect the scale of inflows the Chinese currency receives in the coming months.
Monetary System
The decision establishes the yuan as a fixture in the very international monetary system Chinese leaders criticized following the global financial crisis. In a landmark 2009 speech, People’s Bank of China Governor Zhou Xiaochuan argued a global system so reliant on a single currency -- the U.S. dollar -- was inherently prone to shocks.
That conviction set off a global push by China’s leaders, including now-President Xi Jinping, to have the yuan included in the SDR, which countries can use to supplement their currency reserves.
The IMF endorsement is a bright spot in what has been a tumultuous year for the world’s second-biggest economy, which has been buffeted by slowing growth, a tumbling stock market and a shift by authorities toward a more market-oriented exchange rate.
Approval is unlikely to have much impact on short-term demand for the yuan, given the SDR’s minor share of global reserves, according to economists at banks including HSBC Holdings Plc and ING Groep NV.
But the backing of the IMF, as well as the financial reforms required for China to secure and maintain it, could propel use of the yuan past the pound and yen over the medium term, said Viraj Patel, a currency strategist at ING Bank in London.
"We’re going to see sort of the emergence of a renminbi trading bloc," mostly composed of Asian countries, Patel said in a phone interview before the decision, using the official name which means “the people’s currency” in Mandarin.
The decision should boost efforts by Xi to open up China’s financial markets. China implemented a series of reforms to win IMF support, such as opening its onshore bond and currency markets to foreign central banks and reporting its reserves to the IMF.
Monetary System
The decision establishes the yuan as a fixture in the very international monetary system Chinese leaders criticized following the global financial crisis. In a landmark 2009 speech, People’s Bank of China Governor Zhou Xiaochuan argued a global system so reliant on a single currency -- the U.S. dollar -- was inherently prone to shocks.
That conviction set off a global push by China’s leaders, including now-President Xi Jinping, to have the yuan included in the SDR, which countries can use to supplement their currency reserves.
The IMF endorsement is a bright spot in what has been a tumultuous year for the world’s second-biggest economy, which has been buffeted by slowing growth, a tumbling stock market and a shift by authorities toward a more market-oriented exchange rate.
Approval is unlikely to have much impact on short-term demand for the yuan, given the SDR’s minor share of global reserves, according to economists at banks including HSBC Holdings Plc and ING Groep NV.
But the backing of the IMF, as well as the financial reforms required for China to secure and maintain it, could propel use of the yuan past the pound and yen over the medium term, said Viraj Patel, a currency strategist at ING Bank in London.
"We’re going to see sort of the emergence of a renminbi trading bloc," mostly composed of Asian countries, Patel said in a phone interview before the decision, using the official name which means “the people’s currency” in Mandarin.
The decision should boost efforts by Xi to open up China’s financial markets. China implemented a series of reforms to win IMF support, such as opening its onshore bond and currency markets to foreign central banks and reporting its reserves to the IMF.
G-20 Host
The question is whether China, which will host meetings of the Group of 20 economies next year, will try to leverage the IMF’s support to pursue broader changes to the global monetary system. In his 2009 speech, Zhou suggested the IMF expand the use of the SDR to tap its potential as a "super-sovereign reserve currency."
The Washington-based fund created the SDR in 1969 to boost global liquidity. Under the Bretton Woods system of fixed exchange rates, countries pegged their currencies to the U.S. dollar. But for nations to increase their dollar reserves, the U.S. would have to run persistent current-account deficits, threatening the value of the greenback.
The SDR addressed this dilemma by serving as a supplementary reserve asset to augment countries’ gold and dollar holdings. While the SDR isn’t technically a currency, it gives IMF member countries who hold it the right to obtain any of the currencies in the basket to meet balance-of-payments needs.
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The question is whether China, which will host meetings of the Group of 20 economies next year, will try to leverage the IMF’s support to pursue broader changes to the global monetary system. In his 2009 speech, Zhou suggested the IMF expand the use of the SDR to tap its potential as a "super-sovereign reserve currency."
The Washington-based fund created the SDR in 1969 to boost global liquidity. Under the Bretton Woods system of fixed exchange rates, countries pegged their currencies to the U.S. dollar. But for nations to increase their dollar reserves, the U.S. would have to run persistent current-account deficits, threatening the value of the greenback.
The SDR addressed this dilemma by serving as a supplementary reserve asset to augment countries’ gold and dollar holdings. While the SDR isn’t technically a currency, it gives IMF member countries who hold it the right to obtain any of the currencies in the basket to meet balance-of-payments needs.
http://ift.tt/1NDSxlT
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The Yuan Grows Up - A Milestone For The World Economy
CURRENCY
The Yuan Grows Up
NOV 30, 2015 9:20 AM EST By Bloomberg Editorial Board
At a board meeting on Monday, the International Monetary Fund is likely to announce that China's currency, the yuan, will join the dollar, yen, euro and pound as part of the global currency basket known as the Special Drawing Right.
Don't dismiss this as an inconsequential technical adjustment. It's a milestone for the world economy.
Beijing has been seeking the decision for a while, arguing that the yuan's importance in world trade warrants this new status as a global reserve currency. Earlier this month the IMF staff reported that the yuan now met the criteria for inclusion in the SDR. It remains only for the board, representing the views of the U.S. and the IMF's leading members, to sign off. They should do so.
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The Yuan Grows Up
NOV 30, 2015 9:20 AM EST By Bloomberg Editorial Board
At a board meeting on Monday, the International Monetary Fund is likely to announce that China's currency, the yuan, will join the dollar, yen, euro and pound as part of the global currency basket known as the Special Drawing Right.
Don't dismiss this as an inconsequential technical adjustment. It's a milestone for the world economy.
Beijing has been seeking the decision for a while, arguing that the yuan's importance in world trade warrants this new status as a global reserve currency. Earlier this month the IMF staff reported that the yuan now met the criteria for inclusion in the SDR. It remains only for the board, representing the views of the U.S. and the IMF's leading members, to sign off. They should do so.
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The point of the SDR is to assure IMF members that, if necessary, they can borrow the basket's constituent currencies to meet balance-of-payment needs. Now that more trade is transacted in yuan than in yen, China's currency easily passes the first test for inclusion -- that it be "widely used."
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And China has made changes (such as opening up its bond market) to satisfy the other criterion, that the currency should also be "freely usable."
(On Monday, it was announced that Michael R. Bloomberg, the founder and majority owner of Bloomberg LP, will lead a finance and industry working group to establish the trading and clearing of the Chinese currency in the U.S.) |
Granted, deciding what's "freely usable" isn't black and white -- some discretion is involved, and China hasn't fully liberalized its capital market -- but refusing to include the yuan in the SDR would at this point look like a deliberate snub.
After all, the decision is not just about the technicalities of currency baskets, it's even more about granting China standing as one of the world's leading economies. In that regard, the change is overdue.
The People's Currency
Beijing will see the move as a recognition of its efforts to reform its economy and liberalize its financial markets. The decision will likely strengthen the hand of those who want reform to go further and faster -- which would benefit China and its trading partners alike.
After all, the decision is not just about the technicalities of currency baskets, it's even more about granting China standing as one of the world's leading economies. In that regard, the change is overdue.
The People's Currency
Beijing will see the move as a recognition of its efforts to reform its economy and liberalize its financial markets. The decision will likely strengthen the hand of those who want reform to go further and faster -- which would benefit China and its trading partners alike.
In the short term, the direct effects on currency markets will probably be modest, but with time use of the yuan will widen further, which is all to the good.
Further changes are needed to give China and other big emerging economies a greater say in the IMF and global economic governancemore broadly.
Since 2010, the U.S. Congress has delayed moves to bring such nations' voting strength at the fund into better alignment with their new economic weight -- not because of deep convictions on the matter but out of lawmakers' sheer inability to get anything done.
Such neglect is unacceptable. The shape of the world economy has changed dramatically in the past few years, and there's more to come. The institutions that governments have created to manage global finance need to keep up.
(Updates third paragraph in article published Nov. 29 to reflect a new working group on the yuan.)
To contact the senior editor responsible for Bloomberg View’s editorials: David Shipley at davidshipley@bloomberg.net.
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Further changes are needed to give China and other big emerging economies a greater say in the IMF and global economic governancemore broadly.
Since 2010, the U.S. Congress has delayed moves to bring such nations' voting strength at the fund into better alignment with their new economic weight -- not because of deep convictions on the matter but out of lawmakers' sheer inability to get anything done.
Such neglect is unacceptable. The shape of the world economy has changed dramatically in the past few years, and there's more to come. The institutions that governments have created to manage global finance need to keep up.
(Updates third paragraph in article published Nov. 29 to reflect a new working group on the yuan.)
To contact the senior editor responsible for Bloomberg View’s editorials: David Shipley at davidshipley@bloomberg.net.
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Bits and Pieces in Dinarland Monday Afternoon
KTFA:
BACKDOC: WITH WEDNESDAY BEGINNING THE VACATION PERIOD IN IRAQ AND A POSSIBLE REPLACEMENT FOR THE "ACTOR" ALAK, THE ACTING CBI GOVERNOR, WE ARE RIGHT ON SCHEDULE!
NO WONDER THE "ACTORS" WANT IMMUNITY FROM PARLIAMENT!
NO WAY! SHABIBI SAYS: MAKE MY DAY AS HE BLOWS THE END OF HIS LEGISLATIVE GUN! BAAA HAA DOC IMO
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BACKDOC: WITH WEDNESDAY BEGINNING THE VACATION PERIOD IN IRAQ AND A POSSIBLE REPLACEMENT FOR THE "ACTOR" ALAK, THE ACTING CBI GOVERNOR, WE ARE RIGHT ON SCHEDULE!
NO WONDER THE "ACTORS" WANT IMMUNITY FROM PARLIAMENT!
NO WAY! SHABIBI SAYS: MAKE MY DAY AS HE BLOWS THE END OF HIS LEGISLATIVE GUN! BAAA HAA DOC IMO
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Zerb: From Bloomberg, Nov 30, 2015, 12:03:13 PM
China's currency will be added to the IMF's Special Drawing Rights Basked, according to Managing Director Christine Lagarde.
To read the entire article, go to http://bloom.bg/1jucmho
I think that bouncing elephant that's really help things. Lol
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Panther51: IMO....this is huge!
http://ift.tt/1IkhTTl ... asket.html
IMF agrees to include China's RMB in benchmark SDR currency basket
The International Monetary Fund agreed Monday to add the Chinese yuan to its currency reserves basket.
The decision — which marks another step in China's global emergence — came after the IMF evaluated China's role as an exporter and the yuan's role as a "freely usable" currency. IMF Managing Director Christine Lagarde noted the currency's inclusion is a "clear representation of the reforms" taking place in China.
The addition of the yuan, or renminbi, will take effect next October.
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BACKDOC: THE RIPPLE IN THE POND NOW BEGUN! PRAISE GOD FROM WHOM ALL BLESSINGS FLOW!
Desire: Please keep your arms and legs inside the car until the ride has come to a complete stop!
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Reposted From: http://ift.tt/1ND17Bb
Backdoc HANG ON TO YOUR HATS, SEATS, AND TICKETS, FOLKS, THE SDR TRAIN IS ABOUT TO ROLL!
MY EYES WILL BE FOCUSED ON THE WEE HOURS OF THE 7TH GOING INTO THE 8TH. IF ALL GOES WELL, BY MID DECEMBER WE WILL SEE OUR DECEMBER TO REMEMBER WITH AN INTERNATIONAL LIVE RATE OF MANY CURRENCIES!
DON’T BE IN A HURRY TO SWAP YOUR CURRENCY THEN, JUST LET THE REAL VALUE CLIMB!
BY THE END OF THE FIRST 90 DAYS YOU WILL SEE THE INTERNATIONAL RATE REACH MATURITY TO RI STATUS.
IMO I THINK THERE WILL BE A MUCH HIGHER RV (REVALUE) RATE MONTHS LATER. TIME WILL TELL.
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TNT:
daz CANADA RATES WILL BE DIFFERENT THAN US RATES...JUST LIKE EVERY OTHER COUNTRY WILL HAVE DIFFERENT RATES..
THE EXCHANGE RATE SYSTEM IS AN "EQUALIZER" TO ADJUST FOR A SORT OF PARITY BETWEEN ECONOMIES
THERE WERE NEVER GOING TO BE 800 NUMBERS BEFORE
THERE WAS GOING TO BE NUMBERS...SO SIT DOWN AND MAKE A LITTLE PLAN LIKE IT WAS THE "OLD DAYS"
800#'S ARE A RECENT EVENT.. BACK OVER THREE YEARS AGO THERE WAS NO "PLAN" FOR 800'S..WE WERE JUST DOING AN EXCHANGE TRANSACTION..
WE CONTACT OUR DEALER OR THE CURRENCY DEPARTMENT AT OUR FAV BANK AND MAKE AN APPOINTMENT TO EXCHANGE..THE "OLD DAYS" PLAN
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(Exchange Examples)
Daz: HELLO MR. BANKER, I HAVE IRAQ DINAR, VIETNAM DONG AND ZIMBABWE CURRENCY. I WOULD LIKE TO EXCHANGE...CAN WE DISCUSS THE MOST FAVORABLE RATES AND TERMS, BOTH PUBLIC AND PRIVATE, AVAILABLE FOR EACH?
OR....
WELL MR BANKER.....I RECEIVED SOME INFORMATION IN THE PAST THAT THERE MAY BE MORE THAN ONE RATE AVAILABLE DEPENDING ON HOW WE EXECUTED THIS EXCHANGE.
IF THERE ARE OTHER OPTIONS BESIDE AN EXCHANGE AT THE INTERNATIONAL RATE, I WOULD LIKE TO EXPLORE THOSE TERMS AND REQUIREMENTS IF THEY ARE AVAILABLE TO YOU OR ANY AT THIS BANK.
TNT Cont.......:
Iko Ward : DINAR JUST RESET ON FOREX TO 1165...THIS IS GOOD.
Shybaby: Renminbi As The Fifth International Reserve Currency
November 30, 2015 6:56 am
Renminbi As The Fifth International Reserve Currency by Dan Steinbock, Difference Group
If the IMF will endorse the renminbi as a new international reserve currency, the repercussions will be global and historical.
Recently, the International Monetary Fund’s staff and its chief Christine Lagarde suggested that the yuan should join the basket of international reserve currencies (the Special Drawing Rights, or SDR). The inclusion is expected to be approved at the IMF board meeting on Nov 30.
It would make the yuan the first currency of an emerging economy to be included in the basket. And it could unleash three waves of capital inflows into the Chinese currency.
http://ift.tt/1LJfRqT
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GodBlessTony: Here's a detailed look at how the SDR Basket works..China weighted at 10.92%
The IMF Confirms Yuan Inclusion In SDR Basket At 10.92% Weight, Above JPY And GBP
IMF staff earlier this month proposed that the yuan be added to the basket of currencies used to value the SDR, a reserve asset created by the institution in 1969, and today that decision is confirmed (as expected).
The IMF’s Executive Board decision today means that the yuan will be included in the SDR basket from Oct. 1, 2016, effectively anointing the yuan as a major reserve currency and represents recognition that the yuan’s status is rising along with China’s place in global finance.
http://ift.tt/1PWfEIo
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Lux40: It's interesting to see how the US Dollar appears to have taken the smallest hit of all the other original SDR composite currencies, in order to accommodate the inclusion of the Yuan.
It is also interesting how the "weighting" of the Yuan may very well change that if it goes from 10.92% to around 15% of the total.
DC alluded to this back when he was on the calls. He mentioned that the USD would take a minimal hit, and it looks like he was right on!
Thanks for posting this. Great find.
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[sunny] Announcement of the Yuan in the IMF Basket: . http://ift.tt/dPxWU8
Broccolysaurus: In case anyone would like to estimate their Capital gain tax. http://ift.tt/1LHONs1
Iko Ward : DINAR JUST RESET ON FOREX TO 1165...THIS IS GOOD.
Shybaby: Renminbi As The Fifth International Reserve Currency
November 30, 2015 6:56 am
Renminbi As The Fifth International Reserve Currency by Dan Steinbock, Difference Group
If the IMF will endorse the renminbi as a new international reserve currency, the repercussions will be global and historical.
Recently, the International Monetary Fund’s staff and its chief Christine Lagarde suggested that the yuan should join the basket of international reserve currencies (the Special Drawing Rights, or SDR). The inclusion is expected to be approved at the IMF board meeting on Nov 30.
It would make the yuan the first currency of an emerging economy to be included in the basket. And it could unleash three waves of capital inflows into the Chinese currency.
http://ift.tt/1LJfRqT
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GodBlessTony: Here's a detailed look at how the SDR Basket works..China weighted at 10.92%
The IMF Confirms Yuan Inclusion In SDR Basket At 10.92% Weight, Above JPY And GBP
IMF staff earlier this month proposed that the yuan be added to the basket of currencies used to value the SDR, a reserve asset created by the institution in 1969, and today that decision is confirmed (as expected).
The IMF’s Executive Board decision today means that the yuan will be included in the SDR basket from Oct. 1, 2016, effectively anointing the yuan as a major reserve currency and represents recognition that the yuan’s status is rising along with China’s place in global finance.
http://ift.tt/1PWfEIo
************
Lux40: It's interesting to see how the US Dollar appears to have taken the smallest hit of all the other original SDR composite currencies, in order to accommodate the inclusion of the Yuan.
It is also interesting how the "weighting" of the Yuan may very well change that if it goes from 10.92% to around 15% of the total.
DC alluded to this back when he was on the calls. He mentioned that the USD would take a minimal hit, and it looks like he was right on!
Thanks for posting this. Great find.
************
[sunny] Announcement of the Yuan in the IMF Basket: . http://ift.tt/dPxWU8
Broccolysaurus: In case anyone would like to estimate their Capital gain tax. http://ift.tt/1LHONs1
via Dinar Recaps - Our Blog http://ift.tt/1IkhTTn
Pastors Ed & Kat International Prayer Call Mon. Night 7pm ET
International Prayer Call Monday Night 7pm ET
641 715 3660 406878#
641 715 3659 406878# recorded version
Exciting times walking in the glory of Jesus Christ, Getting connected to a ministries anointing is awesome.
641 715 3660 406878#
641 715 3659 406878# recorded version
Exciting times walking in the glory of Jesus Christ, Getting connected to a ministries anointing is awesome.
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Seeking Jesus daily receiving daily blessings with overflow is wild, don't know where its coming from until he delivers and then Boom Royal favor blessings grace mercy and glory straight from the throne room. want it?
Join us Shalom Shalom God Bless Pastors Ed & Kat heavenlyhealingministries.org Thanks Dinar Recaps for helping so much |
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Stevel Announcement To Members With Q & A
Post From Peoples Dinar
Stevel Announcement To Members With Q & A
Greetings PD followers, Here is the future path for Peoples Dinar Forums.
Over the next 72 hours you can still follow the progress. See the scope below. This will not change, do not worry.
The current and working forums is use the http format:(sorry, I created the stupid rules and not can not give full format) forums2014.peoplesdinar.com a/k/a http://207.168.245.84(This will ask for a new login and password but a valid account)
The temp new forum during the upgrade for testing will be "http"://betaforums2016.peoplesdinar.com (once live you will get to see the new live format)
~~~
Stevel Announcement To Members With Q & A
Greetings PD followers, Here is the future path for Peoples Dinar Forums.
Over the next 72 hours you can still follow the progress. See the scope below. This will not change, do not worry.
The current and working forums is use the http format:(sorry, I created the stupid rules and not can not give full format) forums2014.peoplesdinar.com a/k/a http://207.168.245.84(This will ask for a new login and password but a valid account)
The temp new forum during the upgrade for testing will be "http"://betaforums2016.peoplesdinar.com (once live you will get to see the new live format)
~~~
The final resting place for our site will be "http"://forums2016.peoplesdinar.com a/k/a http://207.168.245.92(DNS will take a few hours)
The only reason this is being done is for the mere fact that we are at the end of this investment. Trust me, this will be a journey you will never forget.
The only reason this is being done is for the mere fact that we are at the end of this investment. Trust me, this will be a journey you will never forget.
As we approach the end of our journey on this endeavor and we move on to the next one, what can I do to help you thru this difficult journey?
Do you want a Q&A session? Open chat room for Q&A? Tell me what you want.
This site will be upgraded this weekend to the most advanced version. Easy to use and great for mobile devices. So, tell me what you want. Thanks, Blessings, Steve
Fozzie said: Q&A would be fantastic. I have new questions based on rumors that Iraq could have an exchange period for the larger notes, like the 50 Dinar Bill, and then discontinue notes "in country" only after this time period is over, but that they would only be discontinued "in country".
This makes me nervous as I had a 100 German Mark Note that I can no longer exchange because it was discontinued for the new currency. I attempted to exchange it at an exchange booth in the airport and was told that unless I am a German citizen and have a German bank account, it was useless paper.
Stevel: Ok, I will answer these now. Like you mentioned, there is the process of "in country" and other means. The 50K has been in the works for awhile and was to draw the lower three zeros in due to the counterfeiting. This was forces by the CBI and all of the citizens have been aware of this process. So what is the concern now? All is good. Blessings, Steve
Mr Haney said: So are they, forcing?, exchanging the 25K for the 50K to weed out the counterfeiters?
Stevel: Yes, big time. This was a plan not just a matter of fact. Blessings, Steve
sds67 said: Sir, do we need to exchange our 25,000 we have not for the 50,000 or just in country.
Stevel: Absolutely NOT! This is an in country only. I talked to may sources and I want to put this to rest now. Blessings, Steve
The only reason this is being done is for the mere fact that we are at the end of this investment. Trust me, this will be a journey you will never forget.
The only reason this is being done is for the mere fact that we are at the end of this investment. Trust me, this will be a journey you will never forget.
As we approach the end of our journey on this endeavor and we move on to the next one, what can I do to help you thru this difficult journey?
Do you want a Q&A session? Open chat room for Q&A? Tell me what you want.
This site will be upgraded this weekend to the most advanced version. Easy to use and great for mobile devices. So, tell me what you want. Thanks, Blessings, Steve
Fozzie said: Q&A would be fantastic. I have new questions based on rumors that Iraq could have an exchange period for the larger notes, like the 50 Dinar Bill, and then discontinue notes "in country" only after this time period is over, but that they would only be discontinued "in country".
This makes me nervous as I had a 100 German Mark Note that I can no longer exchange because it was discontinued for the new currency. I attempted to exchange it at an exchange booth in the airport and was told that unless I am a German citizen and have a German bank account, it was useless paper.
Stevel: Ok, I will answer these now. Like you mentioned, there is the process of "in country" and other means. The 50K has been in the works for awhile and was to draw the lower three zeros in due to the counterfeiting. This was forces by the CBI and all of the citizens have been aware of this process. So what is the concern now? All is good. Blessings, Steve
Mr Haney said: So are they, forcing?, exchanging the 25K for the 50K to weed out the counterfeiters?
Stevel: Yes, big time. This was a plan not just a matter of fact. Blessings, Steve
sds67 said: Sir, do we need to exchange our 25,000 we have not for the 50,000 or just in country.
Stevel: Absolutely NOT! This is an in country only. I talked to may sources and I want to put this to rest now. Blessings, Steve
Freedombug said: Could you give any updates on the progres at Mousil? We heard the supply line was disrupted....have further sticks taken place? Thank you.
Stevel: Yes, according to our sources, all troops will have everything under control and one within a few weeks
buck72801 said: Don't u guys really feel this is coming to an end? We have been here kinda before, and so many things has gotten in the way ISIS which will soon be waswas, but this time feels so different, almost like it's expected and no way it can't ,God bless and have a wonderful day. Tim
Stevel: Yes Tim. They need to finish security in the country and then things will move very quickly.
Dane said: Hey Steve, How do you think the RV process will unfold and what indicators should we be looking for?
Stevel: Indicators will be completed security within Iraq. Look for the final undertaking and freeing Mosul.
Stevel: Yes, according to our sources, all troops will have everything under control and one within a few weeks
buck72801 said: Don't u guys really feel this is coming to an end? We have been here kinda before, and so many things has gotten in the way ISIS which will soon be waswas, but this time feels so different, almost like it's expected and no way it can't ,God bless and have a wonderful day. Tim
Stevel: Yes Tim. They need to finish security in the country and then things will move very quickly.
Dane said: Hey Steve, How do you think the RV process will unfold and what indicators should we be looking for?
Stevel: Indicators will be completed security within Iraq. Look for the final undertaking and freeing Mosul.
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More News, Rumors, and Opinions Late Monday Morning 11-30-15
TNT:
Mr. Myagi: just another manic Monday
Red: Being disappointed is a natural reaction to high hopes, it is okay to be disappointed it is okay to feel the let down, that only makes the victory that much sweeter when it comes
Apexdinar: honestly - anyone who thinks this has all gone, 'as planned' has never managed even the smallest project with more than one person involved, lol...plans change, adjust, and get scrapped all the time!
Bamaltc: IMO only one thing remains.... we wait until this thing happens.... the world is pushing for this.... and they will not release everything until this thing happens....
OkRocks: I still believe we are on the brink of this... and I know its going to happen, I have no waiver in that
....
Mr. Myagi: just another manic Monday
Red: Being disappointed is a natural reaction to high hopes, it is okay to be disappointed it is okay to feel the let down, that only makes the victory that much sweeter when it comes
Apexdinar: honestly - anyone who thinks this has all gone, 'as planned' has never managed even the smallest project with more than one person involved, lol...plans change, adjust, and get scrapped all the time!
Bamaltc: IMO only one thing remains.... we wait until this thing happens.... the world is pushing for this.... and they will not release everything until this thing happens....
OkRocks: I still believe we are on the brink of this... and I know its going to happen, I have no waiver in that
....
Red: We make it sound like they are trying to push a button that has so much resistance not even 20000 men can make the button go down and be pushed, that is nonsense… it's just not time and it only takes one finger to push the button…… when it's time they will push it
Rrrr: “Button Pushers”…. I’m a thinkin’, a dangerous venture on my part, but this has bothered me for a while. This button to be pushed could be of a foreign style. Has this person been trained in button pushing 101? Buttons, like humans, react in different ways when and how they are pushed. You may need to push the right side… or push the left side… push it in the middle….push and hold… or not! Sometimes it’s the little things that make the difference. Never take your buttons for granted!
************
[subtle] New skyscraper planned for Iraq will be world’s tallest building http://ift.tt/1OzVX6c
************
Stage3Alpha:
EXOGEN November 29, 2015 at 12:55pm
INTERNATIONAL MONETARY FUND EXPECTED TO GIVE CHINA RESERVE CURRENCY STATUS MONDAY
http://ift.tt/1PU8dl5
jpv > EXOGEN If voted not effective till sept 2016....Delay till then?
EXOGEN > jpv THERE IS NO "IF VOTED" ITS ALREADY DONE, FINISHED AND COMPLETED
ALL THAT WILL TAKE PLACE NEXT IS FORMAL ANNOUNCEMENT
Wilber Grodan: (Mon. Morning) MARKET ACTION - Conditions are PERFECT for SANTA tonight...
********************************
Dinar Updates:
Millionday : (reposted) CBI HAS ASKED FOR THE LAWS TO BE ENACTED TO ENSURE STABILITY WITH THEIR RATE IN THE >>> MARKETS. IT IS VERY, VERY POSITIVE -- HUGE NEWS -- HEADED FOR MARKETS -- WHOOOPOW.
THE LEGISLATION HAS BEEN CALLED ON THE BE ACTIVATED... TIME TO ENACT ALL THE ECONOMIC LAWS IS ANOTHER REASON I SAID WHAT I DID LAST NIGHT.
EVEN THOUGH THE ECONOMY NEEDS ALL NEW REFORMS THEY COULD NOT JUST MOVE FORWARD BUT HAD TO ENSURE ACCURACY SO THE POINT NOW THAT THE LEGISLATION IS CALLED FOR ENACTMENT IS HUGE…….WHOOPOW.
Rrrr: “Button Pushers”…. I’m a thinkin’, a dangerous venture on my part, but this has bothered me for a while. This button to be pushed could be of a foreign style. Has this person been trained in button pushing 101? Buttons, like humans, react in different ways when and how they are pushed. You may need to push the right side… or push the left side… push it in the middle….push and hold… or not! Sometimes it’s the little things that make the difference. Never take your buttons for granted!
************
[subtle] New skyscraper planned for Iraq will be world’s tallest building http://ift.tt/1OzVX6c
************
Stage3Alpha:
EXOGEN November 29, 2015 at 12:55pm
INTERNATIONAL MONETARY FUND EXPECTED TO GIVE CHINA RESERVE CURRENCY STATUS MONDAY
http://ift.tt/1PU8dl5
jpv > EXOGEN If voted not effective till sept 2016....Delay till then?
EXOGEN > jpv THERE IS NO "IF VOTED" ITS ALREADY DONE, FINISHED AND COMPLETED
ALL THAT WILL TAKE PLACE NEXT IS FORMAL ANNOUNCEMENT
Wilber Grodan: (Mon. Morning) MARKET ACTION - Conditions are PERFECT for SANTA tonight...
********************************
Dinar Updates:
Millionday : (reposted) CBI HAS ASKED FOR THE LAWS TO BE ENACTED TO ENSURE STABILITY WITH THEIR RATE IN THE >>> MARKETS. IT IS VERY, VERY POSITIVE -- HUGE NEWS -- HEADED FOR MARKETS -- WHOOOPOW.
THE LEGISLATION HAS BEEN CALLED ON THE BE ACTIVATED... TIME TO ENACT ALL THE ECONOMIC LAWS IS ANOTHER REASON I SAID WHAT I DID LAST NIGHT.
EVEN THOUGH THE ECONOMY NEEDS ALL NEW REFORMS THEY COULD NOT JUST MOVE FORWARD BUT HAD TO ENSURE ACCURACY SO THE POINT NOW THAT THE LEGISLATION IS CALLED FOR ENACTMENT IS HUGE…….WHOOPOW.
KTFA:
RE: http://ift.tt/1ND17Bb
Backdoc: ONE CORRECTION TO MY OZ GOES GLOBAL POST LAST NIGHT. THE ECB LOOKS TO BEGIN QE ON THURS. NOT MONDAY. WE WILL SEE. NOT A BIG DIFFERENCE. I JUST WANT TO BE ACCURATE. DOC
************
Greenthumb: OMGosh !!!!!! They have finally acknowledged Shabibi Baby as the head !!!!!! We should all have a knot in our stomachs !!!!!!! ? (see article below)
billuke : So are they acknowledging Shabby as head of the CBI or are they talking about his past works before M put the kabosh on the Shabbs
Frank26: It has been ...... It is as we have SHARED:
Two MONDAYS ago we PROVED that #4 was given by DRS.
SHARED ....RI into RV and ... DECEMBER 15th.
Then told YOU that #3 would be in the FIRST WEEK OF DECEMBER.
What will we SHARE tonight? If it was up to me ............... Nothing.
KTFA Frank........ More.
************
Walkingstick: On the road to reform (4) Central bank: review and Solutions
Sunday November 29, 2015 - 09:33
Iyad al-Samarrai Secretary General of the Iraqi Islamic Party
Conference held recently, Dr. Ali Keywords Governor of the Central Bank followed the agency and I was disappointed because I did not find what reassure him, and I saw the danger signs are clear as to whether the policies pursued by the central bank on what they are.
Lasted First, we had to ask the Central Bank to issue an official document shows where his policies and his plan, especially as the crisis experienced by Iraq will continue to the end of the age of the current government, at least, we do not want this government through the wrong policies to migrate its financial problems and its inability to address them to the next government and doubly.
Second, prove not to the House of Representatives the ability of the central bank accountable for his lack of experts independent professionals in this area, found expert was linked to the political Bactlth makes him incapable of commitment to professional position just. And thirdly: to be the House of Representatives to hold a meeting calls him a number of financial experts to discuss the central bank policy, and there are many pieces are ready for that, then the bank is required to amend the its policies in the light of the results of this meeting.
The central bank headed by Shabibi has succeeded in strengthening the confidence of the Iraqi dinar due to strict policies on the one hand, and an increase in oil revenues on the other hand, and this was born the confidence of a relative of the Iraqi economy, which is the weak economy originally to its dependence on a single commodity is oil, and because the state neglected the development of industry and agriculture sectors over the past ten years.
The countries depend on a single commodity wobbling price can not build accurate forecasts around you'll need to very large reserve to stabilize and face surprises, and can not be compared to Iraq and other countries vary their sources of income and its trade balance balanced .
Had we reviewed the majority of oil-producing countries, we find its economy and its ability to withstand surprises much better than Iraq, for example, it was the Algerian Central Bank reserves exceed $ 230 billion, and in spite of that it imposed the Algerian government to reduce import to maintain the balance of payments policy. Therefore I am appalled by what I found from apathy decline in hard currency reserves, and if he is Hin, I would therefore like to recall four things: first: that Iraq has from the reserve more than twenty billion dollars since the crisis began falling oil prices.
II: The debts of Iraq, oil companies and other convergence and perhaps exceed the central bank's reserves current, thank Kuwait for the state which decided to postpone the deduction of 5% for 2015 and possibly Stagelha as well as for 2016.
Third: that Iraq's imports exceed its revenues, and there on the horizon any action to address it.
IV: The loans that the government is seeking to obtain it will exacerbate the problem and increase the risk . In short, the central bank should commit to amend its policies, and is keen to maintain the reserves and selling of the dollar, but as far as revenue, and the austerity policy imposed by the government on the government apparatus and projects must be accompanied by other austerity comprehensive policy through which to adjust imports in order to encourage national production for goods and services must be bold policies to achieve these objectives.
The government has refused to impose a tariff Kmarkip under the pretext of lack of control over all border crossing points, and in spite of the merits of the cause, but a sign of the government's inability to address the issue of financial problems with the Kurdistan region.
It is possible for the government and a substitute for customs tariff imposition of sales tax that went part of it to support local production and thereby achieve: increase domestic production, and the reduction of import, and relieve pressure on the cash reserves of the Central Bank, and run more of the workforce, and to keep the business competition as a pressure to improve product quality, and provide domestically produced commodities at a reasonable price for citizens.
The economic file is still apparently far from the serious attention, and deep understanding of the seriousness of Malath if the gradient levels remain as they are now.
http://ift.tt/1OzVYHh
RE: http://ift.tt/1ND17Bb
Backdoc: ONE CORRECTION TO MY OZ GOES GLOBAL POST LAST NIGHT. THE ECB LOOKS TO BEGIN QE ON THURS. NOT MONDAY. WE WILL SEE. NOT A BIG DIFFERENCE. I JUST WANT TO BE ACCURATE. DOC
************
Greenthumb: OMGosh !!!!!! They have finally acknowledged Shabibi Baby as the head !!!!!! We should all have a knot in our stomachs !!!!!!! ? (see article below)
billuke : So are they acknowledging Shabby as head of the CBI or are they talking about his past works before M put the kabosh on the Shabbs
Frank26: It has been ...... It is as we have SHARED:
Two MONDAYS ago we PROVED that #4 was given by DRS.
SHARED ....RI into RV and ... DECEMBER 15th.
Then told YOU that #3 would be in the FIRST WEEK OF DECEMBER.
What will we SHARE tonight? If it was up to me ............... Nothing.
KTFA Frank........ More.
************
Walkingstick: On the road to reform (4) Central bank: review and Solutions
Sunday November 29, 2015 - 09:33
Iyad al-Samarrai Secretary General of the Iraqi Islamic Party
Conference held recently, Dr. Ali Keywords Governor of the Central Bank followed the agency and I was disappointed because I did not find what reassure him, and I saw the danger signs are clear as to whether the policies pursued by the central bank on what they are.
Lasted First, we had to ask the Central Bank to issue an official document shows where his policies and his plan, especially as the crisis experienced by Iraq will continue to the end of the age of the current government, at least, we do not want this government through the wrong policies to migrate its financial problems and its inability to address them to the next government and doubly.
Second, prove not to the House of Representatives the ability of the central bank accountable for his lack of experts independent professionals in this area, found expert was linked to the political Bactlth makes him incapable of commitment to professional position just. And thirdly: to be the House of Representatives to hold a meeting calls him a number of financial experts to discuss the central bank policy, and there are many pieces are ready for that, then the bank is required to amend the its policies in the light of the results of this meeting.
The central bank headed by Shabibi has succeeded in strengthening the confidence of the Iraqi dinar due to strict policies on the one hand, and an increase in oil revenues on the other hand, and this was born the confidence of a relative of the Iraqi economy, which is the weak economy originally to its dependence on a single commodity is oil, and because the state neglected the development of industry and agriculture sectors over the past ten years.
The countries depend on a single commodity wobbling price can not build accurate forecasts around you'll need to very large reserve to stabilize and face surprises, and can not be compared to Iraq and other countries vary their sources of income and its trade balance balanced .
Had we reviewed the majority of oil-producing countries, we find its economy and its ability to withstand surprises much better than Iraq, for example, it was the Algerian Central Bank reserves exceed $ 230 billion, and in spite of that it imposed the Algerian government to reduce import to maintain the balance of payments policy. Therefore I am appalled by what I found from apathy decline in hard currency reserves, and if he is Hin, I would therefore like to recall four things: first: that Iraq has from the reserve more than twenty billion dollars since the crisis began falling oil prices.
II: The debts of Iraq, oil companies and other convergence and perhaps exceed the central bank's reserves current, thank Kuwait for the state which decided to postpone the deduction of 5% for 2015 and possibly Stagelha as well as for 2016.
Third: that Iraq's imports exceed its revenues, and there on the horizon any action to address it.
IV: The loans that the government is seeking to obtain it will exacerbate the problem and increase the risk . In short, the central bank should commit to amend its policies, and is keen to maintain the reserves and selling of the dollar, but as far as revenue, and the austerity policy imposed by the government on the government apparatus and projects must be accompanied by other austerity comprehensive policy through which to adjust imports in order to encourage national production for goods and services must be bold policies to achieve these objectives.
The government has refused to impose a tariff Kmarkip under the pretext of lack of control over all border crossing points, and in spite of the merits of the cause, but a sign of the government's inability to address the issue of financial problems with the Kurdistan region.
It is possible for the government and a substitute for customs tariff imposition of sales tax that went part of it to support local production and thereby achieve: increase domestic production, and the reduction of import, and relieve pressure on the cash reserves of the Central Bank, and run more of the workforce, and to keep the business competition as a pressure to improve product quality, and provide domestically produced commodities at a reasonable price for citizens.
The economic file is still apparently far from the serious attention, and deep understanding of the seriousness of Malath if the gradient levels remain as they are now.
http://ift.tt/1OzVYHh
via Dinar Recaps - Our Blog http://ift.tt/1lUvW8l
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