Dusty S.: I just heard from my WF PB : All WF designated exchange centers are ACTIVE and on lockdown today--Highly Expectant!!:))))
utahgirl : dusty ! where did you hear that from
Dusty S. : UT. from my private banker from WF…All I know he said designated bank exchange center--i don't know if it means regular centers or ones only for our exchange?? In short I said I was advised by my PB that WF designated exchange centers are active and highly expectant today
Glurerivygtieark: Tennwolfman Sun afternoon 20 dec: I am on pins and needles with this thing--really expecting it to come full fruition today/tonight [Sun 20 dec]. . . I'm expecting it to break loose any minute--I am absolutely thrilled at the possibilities. . . yes it is [the first time my bank has been on lockdown]--sat and sun [sat-sun 19-20 dec]. .
Glurerivygtieark: Tenn part 2: it has been phoned, emailed, and pm'ed to me that now is our time to be ready. . . looking for after 6 o'clock est. . . but they [bank people] are still in there [in Tenn's bank] with the doors locked--I have seen them in the bank with the doors locked today and yesterday [sat-sun 19-20 dec]. . . this time I am letting myself go just a little bit cause it looks and seems so different
PlatinumRunway: So i see intel is lining up today hmmmmm
Imperium: I would imagine that there are certain very powerful agencies in the USA that want this to happen THIS tax year.
G8way2K: They want to get us done by Christmas, so hopefully, they will offer a no-nonsense exchange by making us an offer we can't refuse.
elmerf123456 : For me.....bank deposit slip is my touchdown. However there is absolutely no bad news.
Iko Ward: : Markets warming up. Probably no real firm picture till after China steps up, around 9PM EST. Nikkei will be first followed by Forex and the premarkets, Then the pundits will start in with the main media. If no RV tonight, get ready for the ride tomorrow. Can't believe they let it go this far.
SABickford: My Kids call it "Nagging". I call it "Just do what I freaking told you to do the first time"!
When punishing your kids, Don't take away their electronics. Just take away their charger and watch the fear in their eyes as they use it less while the battery dies.
I know what women want. They want you to drag them to the bedroom, throw them on the bed, and do dirty dishes while they take a nap.
Am I a Good Witch or a Bad Witch? That depends. Are we Talking Before or After Coffee?
firefly All I can say is ...BE READY...because IT IS COMING!
Q: [They were saying it was suppose to happen by Jan 1st 2016 is that still the WORD out there?]
Firefly: Give or take.
Walkingstick: Iraqi banking staffs receive international training
BAGHDAD - Hussein al-Tamimi Tgb
in order to promote human resources working in the Iraqi banking sector struck Iraqi private banks association and Capital Bank agreement is aimed at developing the Iraqi banking sector through the development of local banking expertise and provide them with new knowledge in global and local banks.
The head of the Association meek Handal looks from Through this agreement to benefit from the expertise of Capital Bank in the field of training for workers in the Iraqi banking sector, especially as the Bank has considerable experience in this area, pointing out that the Association is committed to providing Bank of Courses want to qualification in its field to the staff of the Iraqi banking sector.
He said in an interview «morning« The courses that will be determined and when her time during the coming period, work on the training of 25 employees at each session, where there will be coordination between the two parties to create all the training work of curricula and things logistical requirements necessary to complete the fullest training process face.
turn between Ali Tariq Executive Director of the Association of Iraqi private banks that this new direction in Iraq, paving the way for the creation of a typical banking sector capable of providing the best banking services to the public beneficiaries differences (companies or citizens).
He said that the agreement included commitments on Capital Bank consisted prepare materials that are given through the training workshops, and send a specialized team has high expertise in the banking sector for the completion of the training operations, adding that the training would be in line to materials and program by the Association and Alpennek.ofatt that the period of the agreement extends to the world of one,
indicating that the local expertise needed to these efforts to inform them of the developments witnessed by the regional and international banking sector and its role in the Iraqi banking sector which needs to be serious follow-up to the international banks and work on the development of services continuously development.
Emailed to Recaps:
Market Figures Out Fed No Longer Has Its Back
Submitted by Tyler Durden on 12/20/2015 15:45 -0500
US stocks soared while the Fed was meeting to raise interest rates this week - though it’s not clear why that should be so since monetary tightening isn’t generally a good thing for stock prices.
In any event, it didn’t last. Over the past 48 hours the Dow is down more than 3%, with many, many individual stocks down far more.
Why the quick reversal? For one thing, that’s pretty much how it always goes. The Fed tends to aim its statements directly at traders, who are so desperate for adult supervision that they can’t help responding positively. But when the Fed goes quiet, reality once again bites, and the general trend turns negative.
That it’s happening so quickly is a sign of how different things are this time around.
The Fed is now - for the first time in adult memory for half the world’s traders and money managers - tightening rather than loosening monetary conditions. A quick look at financial history is all it takes to lead anyone with leveraged money at risk to lighten up.
Equally important — and vastly more strange when you think about it — this tightening comes at a time when major parts of the global economy are either grinding to a halt or imploding. See Torrent Of Bad News Greets Fed As It Prepares to Raise Rates for some of the disturbing events reported while the Fed was meeting.
And since then (that is, in just two days), a whole new series of similarly-scary stories have surfaced, including:
China Beige Book Shows ‘Disturbing’ Economic Deterioration
(Bloomberg) – China’s economic conditions deteriorated across the board in the fourth quarter, according to a private survey from a New York-based research group that contrasted with recent official indicators that signaled some stabilization in the country’s slowdown.
National sales revenue, volumes, output, prices, profits, hiring, borrowing, and capital expenditure were all weaker than the prior three months, according to the fourth-quarter China Beige Book, published by CBB International. The indicator is modeled on the survey compiled by the Federal Reserve on the U.S. economy, and was first published in 2012.
The world’s second-largest economy lacks the kind of comprehensive data available on developed nations, making it harder for investors to get a clear read — particularly as China transitions from reliance on manufacturing and investment toward services and consumption. Official data on industrial production, retail sales and fixed-asset investment all exceeded forecasts for November, while consumer inflation perked up and a slide in imports moderated.
The Beige Book’s profit reading is “particularly disturbing,” with the share of firms reporting earnings gains slipping to the lowest level recorded, CBB President Leland Miller wrote in the release. While retail and real estate held up reasonably well, manufacturing and services performed poorly, with revenues, employment, capital expenditure and profits weakening.
The survey shows “pervasive weakness,” Miller wrote in the report. “The popular rush to find a successful manufacturing-to-services transition will have to be put on hold for a bit. Only the part about struggling manufacturing held true.”
Japan’s November Exports Fell 3.3%
(Khaleej Times) – Japan’s exports in November fell at the fastest pace in almost three years as shipments to Asia declined in a worrying sign that weakness in overseas demand could curb economic growth.
Japan’s gross domestic product is likely to avoid a contraction for the time being as domestic demand has performed better than expected, but declining exports highlight the risks that China’s slowdown and turmoil in emerging markets pose to the outlook.
Ministry of Finance data showed on Thursday that exports fell 3.3 percent in November from a year earlier, more than the median estimate for a 1.5 percent annual decline in a Reuters poll. That was the biggest decline since a 5.8 percent year-on-year fall in December 2012.
Hedge Funds Just Had Their Worst Quarter Since the Crisis
(Bloomberg) – Hedge fund closures surged in the three months to the end of September as money managers reeled from declines in commodity and equity markets, while high-yield credit spreads widened.
The number of funds liquidated climbed to 257, up from 200 in the previous three months, according to a report from Hedge Fund Research Inc. on Friday, and taking total closures in the first nine months to 674, compared with 661 during the same period last year. Cargill Inc.’s Black River Asset Management shut four units, while Armajaro Asset Management LLP also closed one of its funds.
Liquidations rose “as investor risk tolerance fell sharply, and energy commodities and equities posted sharp declines, resulting in net capital outflows, wider performance dispersion and meaningful differentiation between hedge funds,” Kenneth Heinz, president of HFR, said in a statement.
Bond funds see record outflows after junk jitters
(CNBC) – Investor fears about liquidity in junk bonds have leaked into the investment grade sector of the market, with redemptions from corporate bond funds hitting record highs in the week running up to the Federal Reserve meeting.
Global bond funds saw their largest outflows since June 2013 in the week to Wednesday 16th December, with some $13 billion being pulled from the sector, including, high-yield and investment-grade strategies.
BofAML said the “carnage in fixed income” was still focused on junk bond funds, which saw $5.3 billion of the outflows. Meanwhile, corporate investment-grade debt funds saw around $4.8 billion in net redemptions, according to separate data from Thomson Reuters Lipper which also showed that the net outflows from bond funds over the period were the largest weekly outflows since Lipper started tracking fund flow data in 1992.
There’s more, but you get the point. These are the kinds of things that happen in the early stages of recession, not the middle of an expansion. As such, they’re usually signals to a central bank to ease conditions.
But the Fed has locked itself into tightening for a while, and will need a serious crisis to make a change of course possible. That’s what the markets are figuring out, that they can’t count on free money falling from the sky in the next couple of months, no matter what happens.
So, for the first time in a long time, they’re responding to fundamentals rather than artificial easy money. And the fundamentals, by any historical or common sense standard, are terrible.