Thanks My Ladies for allowing us to share today from your private chatroom:
Coolhounds my pea brain is trying to understand if there is 700 trillion in derivative debt that hangs on the domino effect of the Greek default, how or why the banks are allowing this to threaten their existence. The Greek debt is chump change to the derivative debt. Or do I have it all wrong?
MY LADIES: SORRY IT TOOK SO LONG TO ANSWER YOU, I HAD TO HAVE AN UNRUSHED MOMENT AND GO BACK AND FIND YOUR QUESTION
OK SO THE DERIVATIVES MARKET DOES NOT HANG ON GREECE, IT IS A MARKET THAT HAS BEEN STRETCHED FOR SOME YEARS NOW.
GREECE WOULD ONLY BE THE CATALYST TO LARGER COUNTRIES WITH HIGHER EXPOSURE CAUSING A COLLAPSE.
WHETHER OR NOT GREECE STAYS OR GOES THIS IS A MARKET THAT IS NOT REGULATED AND BASED ON NOTHING AND NEEDS TO GO OR AT THE VERY LEAST BE RESTRUCTURED AND BETTER MANAGED.
TO THINK WORLD DEBT WILL BE WIPED OUT IS FOLLY BUT IT DOES NEED TO BE RESTRUCTURED AND MANAGED AND NEEDS TO MAKE SENSE.
BANKS AND I MEAN ALL BANKS THE LITTLE ONES, THE CENTRAL BANKS, THE WORLD BANKS ARE ALL IN THE BUSINESS OF MAKING MONEY AND THAT SIMPLY WILL NOT CHANGE. EVER!!
SO THE SHORT ANSWER TO YOUR QUESTION IS BANKS HAVE VERY LITTLE POWER TO DO ANYTHING WITH THIS MARKET BUT THEIR EXISTENCE IS NOT THREATENED BY IT EITHER.
HERE IS WHAT THE BIS HAS TO SAY ABOUT DERIVATIVES AND SOME OTHER EXAMPLES
Dale: From Ye Xie writing at Bloomberg Business:
The Shanghai Stock Exchange Composite Index has lost 28 percent since its peak on June 12, the worst selloff in two decades. About $3.9 trillion in market valuation has evaporated, more than the total annual output of Germany—the world’s fourth-largest economy—and 16 times Greece’s gross domestic product. The benchmark is still up 82 percent in the past year, the most among the world’s major markets.
MY LADIES: from LM : http://www.huffingtonpost.com/2015/07/09/greece-submits-reform-proposal_n_7764964.html
Many of the proposed reforms were harsher than those roundly rejected by the Greek public in a bailout referendum last Sunday. But the government said, in return, it "would seek a commitment from creditors to negotiate ... further measures to restructure the long-term debt."
Greece Submits Reform Proposals To European Creditors
ATHENS, Greece (AP) — Greece finally met a deadline that counted on Thursday, delivering a series of sweeping proposals to its creditors before midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation.
The package of reforms raised hopes that Greece can get a rescue deal that will prevent a catastrophic exit from the euro after key creditors said they were open to discussing how to ease the country's debt load, a long-time sticking point in their talks.
MY LADIES: HUMMM LET’S SEE WHERE THIS IS GOING
In the text of proposals sent by Athens late Thursday, the government conceded to demands it had previously refused to accept — mostly on moving various categories of goods and services to higher sales tax rates — in exchange for a new 53.5 billion-euro ($59 billion) bailout package.
MY LADIES: OH AHA..MORE MONEY LET’S KEEP READING
Greece has long argued its debt is too high to be paid back and that the country requires some form of debt relief. The International Monetary Fund agrees with the premise, but key European states like Germany have resisted the idea.
MY LADIES: DEBT RELIEF BY ANY NAME IS ALL THE SAME THE SAME THING. THE DAMAGE HAS BEEN DONE AT THIS POINT AND OTHER COUNTRIES ARE ASKING FOR THE SAME THING.
IT IS A SLOW LINGERING DEATH FOR AN EXPERIMENT THAT IS UNBELIEVABLE TO HAVE LASTED THIS LONG.
Rejoice: <<< How much control does the US have over the repricing of the IQD?
MY LADIES: IN MY OPINION..NONE..BUT IT MAKES FOR GOOD DINARLAND TALK AND POLITICAL AGENDA POSTURING
Rocket Rich: I've always wondered if we as dinar investors had our own special role in what is going on globally with these changes. I think a ton of the old guard wealth will be gone when the dust settles and perhaps we will be the nouveau riche to replace the old. As they say, there will always be rich people and always be poor people regardless of the system. Just my two cents.
MY LADIES: AND RICH THAT IS ANOTHER THING NOVA SAYS OVER AND OVER AGAIN, FOR THOSE WITH GREAT WEALTH NOT PAYING ATTENTION THEY ARE GOING TO GET HURT.
MANY STUFFY ARISTOCRATS WILL NOT BE PAYING ATTENTION.
FOR US..YES WE WILL BE IN A GOOD POSITION FOR SURE.
MY LADIES: THIS IS THE IRANIAN CENTRAL BANK TALKING THIS PAST MONDAY
Iran to implement single forex rate after nuclear deal finalized
The governor of the Central Bank of Iran (CBI) says a single forex system will be introduced in the country within six months after a final nuclear deal between the P5+1 group of countries takes effect.
MY LADIES: VERY SMART APPROACH
Iran’s national currency, the rial, has been traditionally traded at two rates one being traded by CBI and the other one set by money changers.
On Monday, the US dollar traded for IRR 29440 at official rate and for IRR 32,970 on open market.
“Nobody rules out changes in forex rate based on realities, but if certain individuals want to cause fluctuations in the forex rate by creating emotional behaviors, the CBI will feel obliged to block it,” Gholam-Ali Kamyab, CBI deputy governor for forex affairs, said.
“We have plans to control the forex market in case of an agreement or no agreement on the nuclear issue,” he added.
JP: If Iran goes Forex I would expect Iraq to follow suit.
MY LADIES: SOMETIMES YOU FIND THE THINGS YOU DIDN’T EVEN KNOW YOU WERE LOOKING FOR AND IT MAKES YOU GO HUMMMM
Iran, Russia launch direct shipping line, discuss direct airline: Official
Head of Iran-Russia Joint Chamber of Commerce says the two countries are taking new steps to boost bilateral trade and have already launched a direct shipping line in a bid to achieve this goal.
MY LADIES: SO READ THIS WHOLE ARTICLE,, IT’S SHORT BUT LOOK IT’S FROM SUNDAY AND THESE PLANS ARE DONE AND THEY ARE STARTING THE FLIGHTS THIS MONTH.
“An agreement has been signed in this regard and the direct flights are expected to start in a month from now,” he added.
The head of Iran-Russia Joint Chamber of Commerce noted that Tehran and Moscow have also signed an agreement to pave the way for the export of Iran's livestock products, especially chicken meat, to Russia.
MY LADIES: WELL YOU GET MY POINT…READ IT FOR YOURSELVES BUT THIS ALL SPEAKS TO THE HERE AND NOW!
SO HERE IS NO SURPRISE TO ME
No insurmountable problems left at Iran negotiations: Russia
Russia's Foreign Minister Sergey Lavrov says no insurmountable problems are left at nuclear negotiations between Iran and the P5+1 countries.
MY LADIES: AND FURTHER IT SEEMS THEY ARE SPENDING MORE TIME TRYING TO COORDINATE AMONG THEMSELVES ON HOW TO FURTHER NEGOTIATE WITH IRAN, AGAIN NO SURPRISE THERE.
They say the P5+1 countries are having great difficulty in getting coordinated with one another and have been spending more time in coordination meetings since two days ago.
Analysts assume the P5+1 countries are putting all their different positions on the table and this is making the negotiating process very difficult. This situation, Press TV correspondent reported, can make it almost impossible for real progress to be made.
MY LADIES: OK SO YOU CAN FURTHER READ ALL ABOUT THE TALKS FROM THE OTHER SIDES VIEW AND NOT WHAT MAIN STREAM MEDIA WANTS YOU TO KNOW
HERE READ FOR YOUR SELF SEVERAL ARTICLES ON THIS PAGE
Nuclear Energy http://www.presstv.ir/Default/Section/10104
MY LADIES: I THINK THE USA IS ABOUT TO BE GIVEN THE GAME RULES FROM THE EAST.
I THINK THE BIG BULLY SYSTEM IS ON IT'S WAY OUT!
AND TO BACK UP THAT COMMENT HERE READ SOME MORE ON BRICS..
I HOPE I'M NOT BORING ANYONE, BUT I AM ABSORBING AND READING AND EXPANDING MY THOUGHT PROCESS, AND MANY AHA MOMENTS ARE HAPPENING.
OK HERE READ THIS...
SO HERE ARE A FEW NUMBERS FOR BRICS COUNTRIES AND HERE IS WHY I SAY THE BULLY SYSTEM IS ON ITS WAY OUT.
NOW DO NOT CONFUSE THAT STATEMENT WITH THE DOLLAR COLLAPSING. I AM NOT SAYING THAT AT ALL. I’M SIMPLY STATING THAT SOME VERY LARGE NATIONS ARE ALL WILLING TO PLAY NICE IN THE SAND BOX WITH EACH OTHER.
NO ONE IS FEELING THE NEED TO BE THE BOSS, THE BRAT, OR THE BULLY. A PEACEFUL TRANSPARENT WAY OF DOING THINGS IS ON THE HORIZON AND THE USA WILL HAVE TO GET ALONG WITH OUT PULLING ANYONE’S HAIR!
THE DOLLAR WILL SHARE RESERVE STATUS THAT IS A GIVEN WE SEE IT IN CURRENCY SWAPS NOW AND ALONG WITH THIS THE USA WILL NEED TO LEARN HOW TO CO EXIST. SO LET’S READ SOME MORE.
Iran’s Rouhani lauds visit to Russia as highly significant
Iran’s President Hassan Rouhani says he discussed further promotion of cooperation with leaders attending a joint summit of BRICS, the Shanghai Cooperation Organization (SCO) and the Eurasian Economic Union (EEU) during his significant visit to Russia.
Speaking to reporters upon arrival at Mehrabad Airport in Tehran early on Friday, Rouhani described his visit to Russia as “highly significant” as member states of the SCO, BRICS and the EEU comprise 50 percent of the global population and account for 30 percent of the world's gross income.
Rouhani arrived in Russia on Wednesday to attend a joint summit of BRICS (Brazil, Russia, India, China and South Africa), the SCO and EEU in the city of Ufa.
“The day after [conclusion of] an agreement with the six world powers and the start of post-sanctions era, Iran is ready for extensive cooperation with the world's emerging economic powers … to play a more significant role in [establishing] global peace, stability and security,” Rouhani said.
MY LADIES:THE DAY AFTER AN AGREEMENT??? HUMMM WHAT HAPPENED TO 60 DAYS AND ALL THAT BLAB LA BLA???
Stressing that gone is the era of sanctions and threats, the Iranian president said that negotiations over Tehran’s nuclear program have entered the home stretch, adding that Western powers have admitted that Iran's scientific development and progress cannot be stopped.
MY LADIES: WELL YOU CAN READ THE REST. BUT I HOPE YOU ARE STARTING TO UNDERSTAND.
MY LADIES: Iran preparing to usher in post nuclear talks era: Rouhani
President Hassan Rouhani says Iran is determined to expand relations with other countries regardless of the fate of the ongoing nuclear talks with the P5+1 group of countries.
Rouhani said Wednesday that Tehran is preparing plans to respond to the situation that emerges after the talks with six world powers, saying the Islamic Republic will be prepared to expand its relations with other countries.
MY LADIES: IRAN IS EXPANDING RELATIONS REGARDLESS OF THE TALKS. THEY ARE PREPARING TO RESPOND TO THE SITUATION. HUMMM THE SOLUTION IS THERE I THINK.
Asia-Africa cooperation runs counter to unilateralism'
Iran’s President Hassan Rouhani has highlighted the importance of Asia-Africa ties, saying the South-South cooperation flies in the face of unilateralism.
“Cooperation between the countries of these two continents against unilateralism is a great and very important move in the international arena,” Rouhani told reporters upon his arrival in Tehran on Friday after wrapping up his visit to Indonesia.
Rouhani, who was in Jakarta to participate in the summit meeting of the Asian-African Conference (AAC), added that senior officials of more than 100 countries attended the event and exchanged views on “various issues including ways to expand the economic cooperation.”
He also made reference to his talks with the leaders of China, Vietnam and Indonesia as well as the prime ministers of Japan and Bangladesh on the sidelines of the two-day conference, noting, “They all called for the expansion of relations with Iran.”
MY LADIES: MORE THAN 100 COUNTRIES CAN THEY ALL BE WRONG ABOUT IRAN????
President Rouhani urged the formation of a global front against terrorism and expressed Iran’s readiness to cooperate with its neighbors, including Arab countries, in the anti-terror campaign.
The Iranian president further warned of growing terrorism in Asia and Africa, saying extremists are using intelligence, arms and financial support from certain regional and international players to achieve their “illegitimate objectives.”
IMY LADIES: WONDER WHO EVER COULD THEY BE TALKING ABOUT?
He also said Iran is resolute to use its regional and international potential to ensure security in the region and contribute to world peace.
Sager: There must be a reason, however, as to why they keep pushing the deadline for Iran. Perhaps they're waiting on markets to move some more? Perhaps they're waiting in China's bubble to actually pop?
MY LADIES: NO NO SAGER I DON’T THINK SO. IN THOSE ARTICLES ABOUT THE TALKS THERE ARE A FEW ABOUT COERCION AND DISCORD AMONG THE 5+1.
I THINK IT IS THE USA IN DISAGREEMENT WITH EVERYONE AND THEY ARE TRYING TO GET THE OTHERS BEHIND THEM IN TRUE BULLY FASHION.
I MEAN IF YOU READ WHAT I PUT IN HERE IT IS GETTING VERY CLEAR.
LOOK FRANCE HAS DEALS FOR BILLIONS AND SO DOES GERMANY AND SO DOES RUSSIA AND SO DOES CHINA AND THEY ARE ALL OK WITH EVERYTHING I THINK THE USA IS WANTING TO BE IN CHARGE LIKE ALWAYS.
Farhad: I agree Mary, and the issue for USA is management of domestic perceptions/congress and the rest. The rest of the world knows that an agreement is inevitable and if the US congress succeeds to keep US from participating, the rest of the world has no obligation to agree once the 5+1 is signed at the global level with US signing it....which is a given at this point!
MY LADIES: RIGHT FARHAD AND THE US KNOWS IT. HERE READ THIS..
Marc Champion: Current Iran deal isn’t perfect — but it’s the best we’ve got
MY LADIES: SEE THERE ARE NOW ALTERNATIVES IN THE EAST TO THE BULLY WAYS OF THE WEST, AND THIS IS A WHOLE NEW ARENA THE US HAS TO DEAL WITH.