Iko Ward: We've got a $2 spread now between WTI and Brent. This is how we used to ride. Galveston is looking normal from a shipping standpoint, but Iran is still blacked out to us little guys. Everyone is still ready ready, I'm talking countries, international business, banks, oil...you name it
SoCal : New York City’s ports, the busiest on the East Coast, ground to halt after an “apparent labor walk off,” http://www.bloomberg.com/news/articles/2016-01-29/new-york-area-ports- shut-down-after-apparent-labor-walk-off
Tank : Zap said on Tuesday their funds would be available, Bruce said Friday night for "a humanitarian group we would all know." Zap also said funds had been released
Mangelo: if Iran is supposed to go and they are saying so is Iraq on the 31 st then I am hoping for some kind of craziness tomorrow after 4 pm!!!
Yada: Mangelo. Every thing is bonded on Iraq. Iraq goes first…. But the rv of the dinar gives the other countries their new values…. Rv first everything else afterwards
Onetyme: If the swift codes go live On Feb 1. I can't see iran not negotiating a rate at least equal to Saudi Arabia. IMO
RVAlready: Iran made an agreement with Iraq that they would wait for Iraq. That's why Abadi is pulling out all the stops to get ready. Iran is being nice, but it probably won't wait forever. At the rate the PTB is destroying the world economy, I don't think anyone can wait too much longer. The situation is dire.
Maggiemoo: Iran probably won't be nice forever either,,,just to add to your statement !
RVAlready: I think this whole thing will go very soon. The PTB have sucked the world dry…. The fact that Iraq sold 100 billion worth of property to get ready speaks loudly to me.
Tank : It could mean today, there's no rules as far as I know. They might wait for markets to close. I've heard they had it planned for 3:00 on different days in times past
Star339: Iko Ward ….. It appears it will all happen at once ...The RV, the crash, the entry of Iran and Iraq onto the world stage, China going asset backed...and by all at once I mean within days!!
Mangelo: if they are saying that in Southeast Asia exchanges are going on.... we just have to wait till i comes to us.
DustyS: I don't remember anyone saying that there were exchanges in Singapore --just that they were seeing it on bank screens at 3.71--correct me if I'm wrong please :)
SaBickford: Dusty Iko Ward wroteGuys, forget the Singapore intel. It didn't happen. May have even been a sting for all we know.
Tbirdd : Bodi... so martha doesnt necessarily think another week?
BODI: TBIRDD AT THIS MOMENT NO....SHE FEELS PUBLIC IS FEBRUARY 3RD SO WE HAVE TO GO THIS WEEKEND
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wmawhite As told to us by the IMF...Iraq will/expected to join the economy market during the 1st half of 2016...at that time the IQD will be international...everything we are seeing is in response to those expectations. Otherwise, why do them...
They could just do nothing and stay with the USD and stay poor forever. Every detail that is in the works for this to happen was outlined in the Technical Letter of Agreement/MoU...
IMO there are no other required laws for Iraq to join the markets...we can only believe that the value will change because as it enters the market it will have a "rate". And they will never survive at 1182.
Q: [Not even at 1:1.]
Wmawhite: I can agree with...that.
Dnari131: The religious authority calls for the development of an "emergency plan" and warns: the financial crisis reached a dangerous level
BAGHDAD / Sky Press: CE, a
Called religious authority, on Friday, the Iraqi government to develop a contingency plan to overcome the financial crisis that hit the country, and warned that as the crisis reached a dangerous level.
The representative of reference, Sheikh Abdul Mahdi al-Karbalai during Friday prayers that are held in the courtyard Husseini Mosque in Karbala and I followed "Sky Press," that "the financial crisis of the country reached a dangerous level even become hospitals complaining of lack of funds needed for the purchase of medicines and medical supplies provide," he said, adding that "Staff are now also complain of shortages and delays in disbursement of salaries."
Karbalai said, "The Iraqi government is invited to use a team of experts and specialists to develop a contingency plan to overcome the current crisis", stressing the need that "actions do not affect the citizens or fighters."
The representative of the religious authority that "a lot of the crises can be overcome if the decision-makers and others who do good things and did not act Alhthoa behind their personal interests and the interests of Iraq and gave the Iraqis to all interests."
It is noteworthy that Prime Minister Haider al-Abadi pledged in the 11th of August to continue the reforms it promised the people and saying, "I will continue even if it cost my life."
http://translate.googleusercontent.com/ ... A90JeCDukw
Emailed to Recaps:
The Shipping News Says the World Economy Is Toast
72 Jan 28, 2016 1:00 AM EST Updated Jan 29, 2016 6:01 AM EST
By Mark Gilbert
In October 2008, as the repercussions of the financial crisis were starting to ripple through the global economy, I noticed a press release from Swedish truckmaker Volvo saying that its European order book had fallen by more than 99 percent between the third quarters of 2007 and 2008 -- to just 155 from 41,970.
That prompted me to study various other real-world activity measures ranging from shipping to air freight, and to conclude that "the news is all bad and getting worse, fast." The same exercise today, I'm afraid to say, leads me to a similar conclusion about the growth outlook.
Here's a chart showing what's happening to the cost of shipping containers from China's ports, one for the country and one for Shanghai. Both indexes are compiled by the Shanghai Shipping Exchange and cover shipments to the rest of the world including Europe, the U.S. and Africa; the broader China index is down more than 40 percent from its peak in mid-2012:
The traditional global shipping measure is called the Baltic Dry Index. Shipping purists (who rival gold bugs in their dedication to minutiae) will tell you it mostly reflects how many
vessels are afloat on the world's oceans; a glut of shipbuilding means more boats available, which drives down the cost of shipping bulk raw materials such as iron ore, steel and coal.
But given the fragile state of the global economy, it's hard to shake the feeling that the index has been trying to tell us something important about global demand in recent years:
There's a scene in the film adaptation of Annie Proulx's Pulitzer Prize-winning novel "The Shipping News": An old newshound explains to newbie journalist Kevin Spacey how dark clouds on the horizon justify the hyperbolic headline "Imminent Storm Threatens Village."
"But what if no storm comes?" Spacey asks. The veteran replies with a second-day headline: "Village Spared From Deadly Storm." Unfortunately, having survived the storm
fanned by subprime mortgages and the credit crisis, the clouds are gathering again over the global village we live in; they are getting darker every day.
(Corrects description of shipping price indexes in second paragraph, and time reference in seventh paragraph to three years.)
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.