CreativeSource: From our friend AWAKE-IN-3D
Awake-in-3D October 26, 2016 at 3:29pm
Wells Fargo execs just got some news... I am not at liberty to mention the details... but it's good news regarding our affairs. Man, what a day so far! The timeline mentioned by AdminBill yesterday is a good one IMO - based on what I am being told today. If that timeline holds, you should all be rather "busy" by NOV 10th, no matter where one is in the cascading, group/no-group structure.
That's the word as of right now. "Well, amaze your friends!" :)
To be clear... I am not "calling it"... we've all been down that road too many times. Let's just let it come to us as it is. No fear, no doubts, no anxiety... and definitely do not make financial decisions as though you will be done after NOV 10th.
Let's just let it unfold as it was meant to be.
NWMontana: IMF POLICY PAPER METHOD OF COLLECTING EXCHANGE RATES FOR THE CALCULATION OF THE VALUE OF THE SDR
IMF POLICY PAPER METHOD OF COLLECTING EXCHANGE RATES FOR THE CALCULATION OF THE VALUE OF THE SDR FOR THE PURPOSES OF RULE O-2(A)
IMF staff regularly produces papers proposing new IMF policies, exploring options for reform, or reviewing existing IMF policies and operations.
The following documents have been released and are included in this package: ·
The Staff Report, prepared by IMF staff and completed on October 18, 2016 for the Executive Board’s consideration on October 26, 2016.
The IMF’s transparency policy allows for the deletion of market-sensitive information and premature disclosure of the authorities’ policy intentions in published staff reports and other documents.
Electronic copies of IMF Policy Papers are available to the public from http://www.imf.org/external/pp/ppindex.aspx International Monetary Fund Washington, D.C
Dedar: “The Zimbabwe reserve bank has already started massive educational campaigns throughout the country to prepare people for the Bond Notes.”
Dedar: Zimbabwe announced they would be issuing new bond/currency on Mon. Oct. 31, 2016…..Could this be in preparation for the release of the RV?
Dedar: This is from the Bruce Call:" It was the desire of Zimbabwe to put out their new currency October 31. They wanted the currency we had to be redeemed before that new currency was issued."
Dedar: If this statement has any truth then we only have a few days till the 31st October.
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!
rcookie Article: "Government bonds and safe way to save" Quote: "Imad emirate is a financial reform imperative to resettle capital and attracting private investment, especially investment indirect, such as stocks and bonds, and require the reform process in this aspect a number of basic steps, including the development of the stock market in Iraq to their importance in activating the role of the private sector in the process of development."
ONCE AGAIN...HUGE TALK OF FINANCIAL REFORM DRIVING RESETTLING OF CAPITAL AND ATTRACTING FOREIGN PRIVATE INVESTMENT...ESPECIALLY INDIRECT INVESTMENT LIKE STOCKS AND BONDS...AND IMPORTANCE OF LAUNCHING STOCK MARKET ROLE AS PRIVATE SECTOR DEVELOPMENT DRIVER..
THAT ARTICLE IS HUGE...HUGE...HUGE...AND TIES IN MUCH OF THE RECENT ACTION AND NEWS WE HAVE BEEN READING ABOUT!
Investors Have Pulled $8 Billion From Deutsche Bank's ETF Unit
Oct 26, 2016 8:14 AM | Zero Hedge |
Earlier this month, Deutsche Bank stock was shaken following a Bloomberg report that Deutsche Bank's hedge fund clients had withdrawn billions in margin cash from the bank's prime brokerage unit, adding a shade of liquidity concerns to the bank's ongoing capitalization woes. It now appears that DB has continued to hemmorhage cash with the FT reporting that the German lender's exchange traded fund unit has seen billions in outflows as Germany’s biggest lender considers whether to sell parts of its asset management business.
Investors have pulled $8bn from Deutsche’s ETF arm so far this year. This is an unwelcome collapse after a strong performance in 2015 when the unit attracted positive inflows of $28bn, according to ETFGI, a London-based consultancy. DB's clients have been heading for the exit after the bank was threatened with a $14bn claim by the DOJ.
“The noise around Deutsche Bank has clearly not helped its ETF business,” said a senior executive from a rival asset manager who did not wish to be named.
As the FT adds, Deutsche has put aside €5.5bn to cover potential litigation costs but the threat of a larger bill has forced it to consider selling a minority stake in its asset management arm, its best-performing division in recent years. However, efforts to raise fresh capital could be hindered by the outflows from the ETF unit, which is widely regarded as one of the crown jewels of Deutsche’s asset management operations.
To be sure, DB defended itself when a spokesman for the bank said the ETF outflows were “part of the broader industry-wide” trend away from currency-hedged ETFs. The outflows account for 10 per cent of Deutsche’s total ETF assets under management, and indeed the difficulties at Deutsche coincide with a period of upheaval across the European ETF industry. A cut-throat price war led by BlackRock and Vanguard, the world’s two largest fund managers, has forced rivals to abandon their strategic plans.
Still, the cash strapped bank may find it more complicated to unwind positions and provide the needed cash at a time when each of its moves is scrutinized under a microscope.
DB is not alone: Source, the London-based ETF provider, has been put up for sale fewer than three years after being acquired by Warburg Pincus, the private equity group. Commerzbank, Germany’s second-largest lender, has also confirmed it plans to spin off its ETF business into a separate unit.
Some industry observers believe Deutsche’s ETF business could make an attractive acquisition target for a rival looking to establish a foothold in the market. A former Deutsche employee said that efforts had been made in the past to find a buyer for the ETF unit, which has assets of $76.9bn and ranks as the fifth-largest ETF provider globally.
“We heard a lot of rumours that senior management put [the ETF business] up for sale several times but they were unable to get much traction for the price they were asking,” he said.
It wouldn't be the first time Deutsche has tried to monetize some of its better performing assets. Following a review in 2011, the Frankfurt-based lender tried to sell large chunks of the asset management business but a potential deal with Guggenheim Partners, the US investment firm, fell apart in 2012. The bank subsequently merged the asset management division with the bank’s wealth unit, bringing the two together under the leadership of the scandal-plagued Michele Faissola whose involvmenet in a series of Monte Paschi deals has prompted the Italian government to launch an investigation into his "market manipulation" activities.
As reported previously, the former investment banker is one of four executives to have led the asset management division in as many years. His involvement in the suicide of former Deutsche Banker William Broksmit was profiled here recently. Faissola’s departure from Deutsche Asset & Wealth Management last year led to another reversal: the separation of the asset and wealth management divisions just three years after they had been brought together.
Doodlebug: ~ CENTRAL BANK OF IRAN ~
President of the Singapore meeting / activity of banks is transparent and in accordance with international practice
4 Persian date Aban 1395 (25 October 2016)
Governor of Central Bank meeting in Singapore in enumerating the characteristics and economic potential of Iran, the economic stability of the government policy of prudence and hope called and said Iran's banking sector and big and powerful with international experiences in accordance with the activities of the banking transparent are international best practices. While the central bank to deal with outstanding loans, low profitability and weak credit growth, increase their regulatory powers and extended them to all banks and credit institutions. In this way the branches of Iranian banks abroad, both inside and are supervised by the host country.
The Public Relations Department of the Central Bank, Speech V. Saif is as follows:
First and foremost the organizers of this conference for giving me the opportunity today to thank set.
I am delighted that the "first investment summit in Iran," and in this beautiful city and refreshing among your members and distinguished guests, I am MillionaireAsia. The purpose of this event is to investigate ways of investing and doing business in Iran. This is an opportunity to exchange views, raise questions and provide answers that will hopefully lead to better mutual understanding is the first step of a long journey ahead of us all.
I explained briefly and generally about the history, demography and economy, recent economic and financial developments, trade and investment opportunities in our country to move forward I will present our expectations.
Iran's thousand-year history in the past was known as Persia, the country has become one of the G·hvarhhay that from its very beginnings of civilization in the tenth to eighth millennium BC, is always at least one of the featured titles area its own.
Iran's gross domestic product based on purchasing power parity ranked 18th in the world, its economy $ 450 billion a diverse and educated workforce, and a broad domestic industrial base and its access to cheap energy resources.
As has been mentioned in various sources of the capacity of the consumer market such as Turkey, Saudi Arabia's oil reserves, Russia's natural gas reserves and mineral deposits is Australia.
People of Iran
Iran has a population of 80 million, a skilled and educated workforce, the number of university students more developed countries such as France, Britain and Turkey, very diverse ethnic groups, religions and rich culture, unique country in the region considered.
Iran's major competitive advantages compared with other countries, to increase their economic growth and potential business partners can be skilled workforce, strategic location geographically broad and diverse economy with a GDP of over 450 billion dollars with a value summarized.
Iran's economy and the potential for significant competitive advantages are as follows:
• Strong Despite the great variety of ethnic unity and social cohesion
• stable and securely among regional unsafe
• relatively robust infrastructure
• Has 50 years of production history
• educated population with a rich culture and entrepreneur
• Rate competitive salary along with a skilled workforce
• The energy consumed lucrative opportunity for investment in energy efficiency is crucial
In addition to competitive advantages, Iran has the capacity and unique opportunities are also compared with other countries, including:
• First place in the world gas reserves
• Ranked third in the world in oil reserves and produces very low extraction cost
• abundant and effective infrastructure and applications
• convenient geography position to transport (North-South and East-West access) through which Iran can best be crossing the Middle East
• a very broad competences in the areas of religious tourism, historical, cultural and health
Due to the advantages mentioned and many other opportunities that are not mentioned, in the current global economic situation, the economy numerous potential partners and even the whole world. In the absence of even the developed and developing countries suffer from low economic growth, the economy is the largest economy since the collapse of the Soviet Union re-connected to the world markets, in the heart of the geopolitical importance of the Middle East-North Africa (MENA), Central Asia, Afghanistan and Pakistan and the market will cover 750 million. As a result, Iran can be seen as the gateway to this vast emerging market. Iran, the Persian Gulf and Central Asia linking duct connecting the East to the West in the past referred to as the Silk Road.
Recent economic performance and future prospects
With the arrival of the doctor cleric in the summer of 2013, the government began a comprehensive master plan for stability and reform that embraced all areas and led to remarkable stability. Politically, the nuclear agreement between Iran and the P5 + 1 will prove the peaceful nature of Iran's nuclear program. This will reconnect sanctions on the Iranian economy will help global markets and most importantly the way for a return to international financial markets pave the Iranian banking system. Singapore in this market and especially in this part of the world an important place.
Sound economic policies over the past three years, to restore macroeconomic stability across markets has helped. This credit policies to increase stability, predictability of the economy, strengthen public confidence, improving investment and growth prospects of help. We commit ourselves to maintain economic stability and improve it with the following measures:
• curb inflation
• improve financial management
• reforming and strengthening the banking system
• unifying the exchange rate
• Strengthening of foreign investment,
• promote growth-enhancing structural reforms
So that we can provide employment opportunities for young, educated workforce and reduce the economy's dependence on oil.
GDP growth in 1393 to 3 percent, but in the following year due to the severe decline in world oil prices and the uncertainty on the part of consumers and investors stopped. Oil prices had a negative impact on the process of economic recovery in the country. Decline in oil prices in 2015 led to cuts in public spending and investment costs and weakened demand side of the economy. However, maintaining macroeconomic stability and persistence of inflation despite lower oil prices and continued economic sanctions achievements in 2015 was fabulous.
Year 1395 outlook is bright because it is expected prudential policies, increased oil exports with positive shocks on growth and full lifting of economic sanctions, the real GDP growth to reach 5% or even more. In fact, in the first quarter of this year GDP 5.4 per cent growth and single-digit inflation rate reached double-digit peak. (8.8% in September on a year-on-year) was the product of tight monetary policy of the Central Bank. The latest producer price index (PPI) increased 3.2 per cent hopeful. The stability of the currency market to curb inflationary expectations and lead to the return of stability to the currency market now moves in the direction of unifying the exchange rate started.
Iran's foreign debt is very low and the balance of payments is positive. Over the past few decades all had a positive balance of payments surplus economy. The low rate of foreign debt, which is about 2 percent of GDP a source of confidence for future performance in attracting foreign investment and resources. Despite the revolution, war, sanctions and other adverse conditions, payment history in Iran has always been impeccable.
Iran's banking sector is big and powerful with international experience. Banking activities are transparent and in accordance with international best practices. Central Bank to deal with outstanding loans, low profitability and weak credit growth increased its supervisory powers and extended them to all banks and credit institutions. Branches of Iranian banks abroad, both inside and are supervised by the host country. Public banks were restructured and capital to financial stability have increased. Non-bank credit institutions were encouraged to merge and apply for bank licenses. Outstanding loans are closely monitored and steps taken to repair and strengthen banks' balance sheets.
Significant growth of e-banking in recent years demonstrates the great potential that exists in improving service delivery in the Iranian banking system. This means there is the potential for new challenges and the need for more accurate care. Despite the decline in international financial interactions between Iranian banks and foreign banks had a negative impact on service delivery and profitability; central bank to strengthen regulation and supervision to ensure that good risk management in banks, and they run with standards international including corporate governance and compliance with capital requirements and liquidity Basel Committee.
Strengthen the AML / CFT standards for financial reporting and the preparation of financial statements in accordance with international banks (IFRS) join the Iranian banking system facilitates the global economy. We have made significant progress in both directions and banks increasingly regulate their financial statements in accordance with IFRS. We are committed to continuing to strengthen the AML / CFT know. You have asked about the state of the International Monetary Fund AML / CFT us with FATF standards and we plan to evaluate Eurasian Group AML / CFT we join.
My colleagues are ready to fully spoken in the area of foreign investment and to answer your inquiries. Therefore, I will briefly explain a few things, and I hope it will be useful to you.
Iran sanctions fix provides unprecedented opportunities for investors. In the past 25 years our country has carried out five five-year development plan and saw that the businesses from more than 50 countries billions of dollars in the areas of energy, petrochemicals, copper, steel, telecommunications, automotive, and pharmaceutical invested.
Iran is also a potential investment in information and communication technology and aviation industry has great potential. We all export-oriented foreign direct investment in consumer durables, machinery, energy savings based activities, telecommunications and IT and oil and gas industries welcome.
Rule of law strengthened and protection of foreign investment to investors that the following rates:
• Government guarantees
• ensure repatriation of capital
• equal treatment with domestic investors
• Acceptance interventions and international courts
Iran respects tax system is highlighted below:
• 25% corporate tax rate
• non-discrimination between domestic and foreign firms
• Maximum 35 percent of individual tax
• 9 percent VAT
• low tax burden equivalent to 9% of GDP (compared to France which is 44 percent)
Iran has recently become one of the priority objectives of business executives from around the world has become the banking sectors, oil and gas, aviation, tourism, automotive and infrastructure are interested.
Rule of law strengthened and protection of foreign investment legal framework for the protection of foreign investment provides interested to invest in Iran. Since the hearing did not like seeing, you are invited to come to Iran, followed closely by people discuss and make their own assessment. LINK