Mountainman: YES Folks the GIG is UP and DOWN.(see article below) ....and As EVERYTHING Adjusts to It's TRUE ASSETS VALUE...... VOLATILITY and DISTRUST will Abound......and People are DESPERATELY trying to FIND a SAFE HAVEN for Their INVESTMENTS....Meanwhile The DOLLAR will FALL further and Eventually Reflect it's ASSETS in DUE TIME....IMO
BACKDOC: THE EURO DROPPED TO ITS LOWEST LEVEL IN 7 YEARS!
DO YOU THINK THAT SOMEONE IS GETTING NERVOUS ABOUT THE REFERENDUM IN BRITAN? THE VERY SHENGZEN AGREEMENT WHICH IS UNDER ATTACK FROM MIGRANT OVERLOAD, GREECE DEPARTING AND LIKELY CATALONIA REGION IN SPAIN (BARCELONA), NOT TO MENTION THE BRITS POTENTIAL MOVE!
THE ADDED EXPENSES WILL BE SO OVERWHELMING TO THE REMAINING MEMBERS THAT THEY WILL NOT SUPPORT OR DEFEND THE CURRENCY! REMEMBER, THE EURO IS BACKED BY A TREATY NOT ASSETS!
ONCE THE TREATED HAS SUFFERED CATASTROPHIC DAMAGE THE ACCIDENT ON PURPOSE WILL BE UNDERWAY! DOC IMO
Oil downturn sparks equity selloff
Global equity markets slumped on Tuesday, denting the recent recovery in riskier assets as oil prices tumbled on signs that a proposed deal to freeze output by major producers was not on the horizon.
After gains of more than 5 percent on Monday, which had helped push a gauge of world equities up more than 1 percent, both Brent LCOc1 and U.S. crude CLc1 turned sharply lower after Saudi Oil Minister Ali Al-Naimi said he welcomed all sources of supply, while Iran was seen as unlikely to agree to an output cap.
The decline in crude weighed on both the energy .SPNY and financial .SPSY sectors on Wall Street. Concerns about bank exposure to the energy sector were highlighted by JP Morgan's (JPM.N) announcement that it will put aside an additional $500 million to cover potentially bad loans to energy companies.
Markets have been closely tethered to oil prices, which have been volatile based on the continually changing perceptions that an output deal could be reached.
"The markets are really worried that we are missing something here – that the global slowdown may be more significant than we are recognizing and that slowdown could be causing oil prices to drop," said Tracie McMillion, head of asset allocation at Wells Fargo Private Bank in Winston-Salem, North Carolina.
U.S. crude futures settled down 4.6 percent at $31.87 a barrel and Brent LCOc1 settled 4.1 percent lower at $33.27 a barrel. The commodity had shown signs of stabilization above $30 a barrel recently on hopes a production freeze by major producers could be agreed upon.
The Dow Jones industrial average .DJI fell 188.88 points, or 1.14 percent, to 16,431.78, the S&P 500 .SPX lost 24.23 points, or 1.25 percent, to 1,921.27 and the Nasdaq Composite .IXIC dropped 67.02 points, or 1.47 percent, to 4,503.58.
European shares also moved lower on the crude weakness, along with and disappointing updates from Standard Chartered (STAN.L), down 6.7 percent, and BHP Billiton (BLT.L), down 6.1 percent. A weak sentiment reading of German manufacturers also raised concerns about the health of the region's largest economy.
Resources stocks .SXPP, down 3.2 percent, weighed heavily on European equity indices after the world's largest miner, BHP Billiton, posted its first loss in 16 years.
The pan-European FTSEurofirst 300 .FTEU3 index of leading shares closed down 1.3 percent. MSCI's index of world shares .MIWD00000PUS was lost 0.92 percent.
In currency markets, the British pound GBP= remained under pressure, and was down 2.7 percent on the past two sessions, its biggest two-day drop in six years, on worries Britain may leave the European Union. Sterling was last down 0.83 percent at 1.403.
The euro EUR= also fell to $1.0987 on Monday, its lowest in almost three weeks, on fears Brexit could undermine the European Union. It was last down 0.13 percent at $1.1012.
Investors' shift towards safer ground on Tuesday pushed the dollar lower against the yen, down 0.7 percent to 112.10 yen JPY= after hitting a low of 111.75.
The dollar's index against a basket of six major currencies .DXY was little changed, up 0.09 percent at 97.467
Benchmark 10-year U.S. Treasuries reversed earlier losses and were last up 8/32 in price to yield 1.7380 percent.
http://www.reuters.com/article/us-globa ... SKCN0VW046
Mountainman Well W/ Iran Moving on UP ......Like the JEFFERSON'S......(ASSET WISE) MANY like INDONESIA and Others will CONTINUE TO BENEFIT as ASSETS Move from The EAST to The WEST.....IMO
Thunderhawk: NOT SURPRISED ARE WE DOC?????
BACKDOC: JUST ANOTHER REASON WHY ITS NOT IRAQS TURN!
IRAN IS HURRYING AS FAST AS IT CAN!
TOO BAD HE'S NOT THE GINGERBREAD MAN! DOC IMO
Iran, Indonesia discuss energy co-op
Iran's Petroleum Ministry and Indonesia's Energy and Natural Resources Ministry officials will confer on boosting energy cooperation on Tuesday, an official at the Indonesia's Energy and Natural Resources Ministry said.
According to the Beritasatu TV's website, Indonesia Energy and Natural Resources Ministry's Oil and Gas Director IGN Wiratmaja Puj said in a press conference that Iranian and Indonesian officials will discuss joint investment in fields of oil and gas in their two-day meeting.
According to IGN Wiratmaja Puj, several investors have expressed an interest to build fuel storage for Indonesia, including investors from Iran.
At a meeting with an Iranian delegation scheduled for Feb. 23, the government will reportedly offer the projects to Iran, he said.
Indonesia aim to import oil and gas from Iran and in the meantime, take help from Iranian investors for constructing an oil refinery complex and chemical fertilizer factory there.
Indonesia Minister of Energy and Mineral Resources Sudirman Said visited Iran in October 2014.
Mountainman: EVERYONE Come and CELEBRATE...I Mean NEGOTIATE w/ Us....says IRAN......We are a SAFE HAVEN of TRUE ASSET VALUE.......The HORSES are RUNNING WILD........IMO
BACKDOC: AFTER EVERY ARTICLE WE HAVE SEEN ON IRAN MAKING DEALS EVERYWHERE ITS JUST RIDICULOUS HOW FAST THEY ARE MAKING DEALS AND INTEGRATING TO THE WORLD!
RELAX FRIENDS! THE TWO SHIA BROTHERS SAID THEY WILL LAUNCH TOGETHER DID THEY NOT?
WELL, IF THEY DID ON THE 8TH AS THEY SAID, NO WONDER INDIA'S RESERVES HAVE JUMPED ON THE SAME WEEK!
THEY WILL SHOW IT SOON! THE IMF WILL DIRECT THE PROPER TIMING! DON'T BE HARD ON IRAQ, THEY ARE READY IMO DOC IMO
Thunderhawk: Singaporean delegation due in Iran on Friday
In the wake of lifting of anti- Iran sanctions, a big Singaporean economic-trade delegation consisted of 67 people from Singapore Business Federation is scheduled to come to Iran to negotiate on developing bilateral economic and trade relations.
Iranian Ambassador to Singapore Javad Ansari told IRNA on Tuesday that the delegation will be headed by the Chairman of Singapore Business Federation Teo Siong Seng and the Minister for Trade and Industry S. Iswaran.
He said that the Minister for Trade and Industry of Singapore will meet Iran's Minister of Economic Affairs and Finance Ali Tayeb Nia to negotiate and sign investment encouragement and protection agreements.
He said that Iswaran will also meet Iran's Minister of Industry, Mine and Trade, Mohammad Reza Nematzade and will participate in meetings with businessmen.
Ansari said that these companies will negotiate on IT, building hotels, transportation, pharmaceutical industry and other capacities.
The Singapore Business Federation (SBF) is the apex business chamber championing the interests of the Singapore business community in the areas of trade, investment and industrial relations. It represents 22,500 companies, as well as key local and foreign business chambers.
In July 2001, the Minister for Trade and Industry introduced a Bill in Parliament to establish the SBF Act, which was passed by Parliament and became law on 5 Oct 2001.
The Federation was then established on 1 April 2002, with the aim of representing the business community’s interests both locally and overseas. Under the SBF Act, all Singapore-registered companies with share capital of S$0.5 million and above are members of SBF.
Mountainman: SPAIN....From DROWNING IN DEBT.....to SWIMMING IN DEALS w/ A NEW and IMPROVED CURRENCY that will Enhance SPAIN'S FUTURE.....IMO
Thunderhawk: Spain to make investment in Iran’s petchem industry
Simultaneously with the enthusiasm expressed by the big European companies for being present in the Iranian petrochemical industry, the SERCOBE Company of Spain has announced its readiness in this regard.
Marcel Riudavets Slangen, SERCOBE’s Export Director, in a meeting with Managing Director of the National Petrochemical Industries Company Marziyeh Shahdaei announced his company’s interest in long-term financing of Damavand Petrochemical Complex.
He said this was his second visit to Iran in recent months and expressed hope that his talks will lead to the company’s presence in Damavand Petrochemical Complex.
Meanwhile, Amir Hossein Fallah, Finance Advisor and Investment Development Director of the Company who was also present in the meeting said Damavand Petrochemical Complex is in the process for being transferred.
Therefore, he added, the Spanish company should work with the new owner if agreement is reached between the two sides.
Damavand Petrochemical is a utility complex located in Assalouyeh.
EHankins: PERHAPS I'M A LITTLE BEHIND OR A BIG BUFFALO BEHIND ....WHY DO SUPPLIERS OF OIL CONTINUE TO PUMP IT OUT OF THE GROUND AND SELL SELL SELL OIL INSTEAD OF CAPPING FOR A WHILE TO FORCE OIL PRICES TO GO UP UP UP?...IT'S A CRAZY...I JUST DON'T SEE BEHIND THE CURTAIN I GUESS......
BACKDOC: ITS ABOUT MARKET SHARE AND EXTRACTION COSTS!
IRAN 3 TO 7
IRAQ ABOUT THE SAME OR LESS!
SAUDI ARABIA SIMILAR! DOC IMO
Mountainman: LEAD, FOLLOW,or Just get Out of IRAN'S WAY........It's $$$$$$$ TIME.....ALL ASSETS Welcome to Play....If You PAY....IMO
Thunderhawk: Iran transport services upgraded to global standards: Minister
Minister of Roads and Urban Development Abbas Akhundi said on Tuesday that Iranian transport services, especially railway sector, will be upgraded to global standards.
He made the remarks after signing MoU between Iran Railways (IRIR) and a German Company.
Akhundi said that signing the Memorandum of Understanding with the German company is so important for Iran, because it prepares ground to advance Iran's railway services.
Iran's railways should be able to play major role on transferr of goods and passengers at global level, so its development is in our agenda.
Iran-China railway link was big development and show that Iran could connect railroad from China to Germany to promote its world chain of value.
Renovation of air fleet, development of railroad networks, ports and roads with aim to activate Iran in crossroad of north-south and east-west and Silk Road is necessary.
Thunderhawk: SO WHY IRAN ???? YOU ASK ???? WHY INDEED!!!!
OK FAMILY LETS GET DOWN TO BUSINESS!!!
THIS IS WHY WE HAVE A WAITING ROOM FOLKS ThunderHawk IMO
Inside Story - Who benefits from Iran's business boom?
Mountainman: Well HAWK.....I watched some Portions of the Interview......As it stands....EUROPEAN Countries and Others With their Technology is NEEDED for DEVELOPMENT w/IRAN'S INDUSTRY....The NEW SILK ROAD is A GOLD MINE ....So EVERYONE is JUMPING in that MINING TRAIN as "FAST" as they can....IMO.....Lastly WORKERS will be NEEDED as PRODUCTION and DISTRIBUTION becomes Paramount for BUSINESS..So Many JOBS will be MET On BOTH Sides of these DEALS being Made.....IMO) I Will Have to Watch MORE of it Later.....
Thunderhawk: DOC HUGE - HUGE - HUGE !!!!!
PLEASE REPLY GUESS WHO : the world’s top economic decision-makers
BACKDOC: I THINK ITS INTERESTING THAT WE SEE TALK OF A DOLLAR DEVALUE AND A YUAN REVALUE!
IT SEEMS NO ONE IS QUALIFIED TO DECIDE HOW THAT SHOULD BE DONE AT THE G-20!
IT APPEARS THE WORLD'S TOP ECONOMIC ADVISORS ARE THE ONLY ONES QUALIFIED TO MAKE THOSE DECISIONS!
WHO MIGHT THEY BE? HEE HEE
LOOK TO THE BIS TO IMPLEMENT THOSE DECISIONS! DOC IMO
Mountainman: Well "IF" it is a "RUMOR".....LOL......Do You Think The Chinese Would Tell Us ???....."Of Course we are MAKING A DEAL to "Do A ONE-OFF"....Uh.....No Of Course NOT.....IMO.....But It Very WELL could be a REALITY CHECK MATE.....TIMING/TIME???....WILL TELL...It ALWAYS DOES!!!!!!!!.......LOL......
Wishful thinking: Rumoured G20 deal to stabilise currency, like the 1985 Plaza Accord, is ‘just fantasy’, says China’s finance minister
It is wishful thinking to expect a deal addressing currency volatility – like the 1985 Plaza Accord – to be struck at next week’s G20 meeting in Shanghai, says China’s finance minister Lou Jiwei.
“That’s just the media’s fantasy,” Lou said on the sidelines of the Chinese 50 Economists Forum in Beijing on Friday. “That proposal doesn’t even exist.”
Lou was responding at the annual forum to questions about whether members of the G20 might reach an inter-government agreement to jointly intervene in the foreign exchange market.
The forum is a top Chinese economics club whose members include Lou, Liu He, President Xi Jinping’s right-hand man in economic policymaking; central bank governor Zhou Xiaochuan, central bank deputy governor Yi Gang, as well as renowned economist Wu Jinglian.
Asked whether a one-off yuan revaluation would be on the agenda at the meeting of finance ministers and central bankers from the Group of Twenty major economies in Shanghai next week, Lou said: “No, no, no.”
Lou’s comments came on the back of analysts’ –including Bank of America Merrill Lynch chief investment strategist Michael Hartnett’s – speculation that the world’s top economic decision-makers would seize the chance to strike a deal similar to the Plaza Accord.
The accord is an agreement between France, West Germany, Japan, the United States and Britain in 1985 that allowed the US dollar to weaken significantly through joint intervention in currency markets.
Some economists, including Yu Yongding, a former People’s Bank of China adviser, are arguing for a one-off revaluation of yuan.
But many other analysts see the deal and a one-off revaluation as implausible.[/color][/size][/b]
“It’s certainly not appropriate for policymakers to discuss what level the exchange rate should be at,” said Guan Tao, a former official with the State Administration of Foreign Exchange. “Nobody can tell where the right level should be.”
Guan said while there was a general sentiment that finance ministries and central banks around the world should improve policy coordination, they lacked specific proposals to act on.
State Council adviser Xia Bin said it was “very unlikely” for the G20 gathering to result in any concrete action plan.
http://www.scmp.com/news/china/diplomac ... e-currency
Bucking Horse » Tuesday, February 23, 2016
Iraqi money-exchange association formed
3:07 PM admin
Baghdad/ Iraq TradeLink: The Iraqi money exchange association was formed in the capital, Baghdad.
It is expected that the new association will organize training workshops for money exchange offices, banks and money transfer facilities in coordination with the Central Bank of Iraq.
No other details were given.
Posted in: Baghdad,Economy
http://www.iraqtradelinknews.com/2016/0 ... ormed.html
BACKDOC: ACTIONS MEAN THINGS! YES FRANK!
THIS IS WHAT IMPLEMENTATION LOOKS LIKE ONE MAJOR MOVE AT A TIME!
SOON IT WILL BE IRAQS TURN! HEE HEE…….GREAT JOB GENTLEMEN! DOC IMO
Mountainman: One Things "FOR SURE" Doc.....Since IRAN is "MOVING"....at the SPEED of a LOCOMOTIVE......That CAN ONLY Mean...."IRAQ and Others" Are RIGHT Around The "RAILROAD CURVE".....IMO....(8) BALL CORNER POCKET.........LOL...........
BACKDOC: ONE WOULD CERTAINLY THINK SO!
Thunderhawk: Good night Family Frank and Friends
Good to see you all
Way to go MM
Way to go Newshounds and commentators