Tidbits from The Big Call/ Bruce Intel: " We are switching from an old to a new financial system.
CIPS system starts on July 1.
Well is flowing. It is a joyous time.
All will be released and nothing is on hold any more.
We all should have the best July 4th ever.
Release is at any moment now because of the new system we start tomorrow.
Exchange Procedures - we went over Tuesday night. Banks are ready.
Fed and Treasury gave green light.
Hsbc, Aiib, wells fargo, pboc and others are lined up and ready to go."
"We're almost on auto pilot."
The Big Call Replay line: #605-562-3198 Pin #123456
TerryMac: 7-4-16 is our INDEPENDENCE DAY and ALSO: The eve of close of Ramadan / Eid-al-Fitr celebration. Sounds like a good day for the R/V.
From The Big Call: MDinn: INTEL: ROB'T THE WELL IS FLOWING FREELY, NO MORE STOPS, OR HOLDS
ANYTHING ON HOLD..SKR'S, HOLDS WILL BE RELEASED..EVERYTHING WILL GO AT ONCE
ANY MOMENT NOW REVEAL..BECAUSE OF THE NEW CIPS SYSTEM STARTING TOMORROW
GRATITUDE'S TO CALIFORNIA SUGAR FOR HER NOTES~
Bruce - WF is the lead bank. All have Green Light from Treasury
Robert - "the well is flowing freely" no more stops, no more holds. it is a joyous time.
Bruce - also hearing that we are in a new financial system that will trigger other events to happen at once.
Bruce - Time frame for new system is same for CIPS system to be used solely. SWIFT will no longer be in use as of Friday (tomorrow, July 1). Also heard that with the transition from old to new that certain SKR's, prosperity packages, fines and penalties, farm funds, all that was on hold, will be released.
Robert - anything that had an ADMIN hold on it will be released because going into new system, banks cannot trade on funds that are on hold.
Bruce - my sources as saying that this will be the best July 4th that we have ever had in our lives. Not calling in on 4th, just saying in that time frame because of the new system starting tomorrow.
Bruce - In summary …. Rates will be excellent. The Fed and the Treasury lifted all holds to lead banks so all other banks in that sequence the banks that will feed into WF are set and ready to go. Systems in place that will handle large transactions. With new system, we are almost on autopilot for this to roll out. Be sure to review your list of items to take to redemption center…currency, separated by country and denominations within currency type, passport, 2 photo ids, notes. Leave your cell phone and your guns in the car! When you get notified, they may ask which currencies you have. If you have Zim, let them know right away. My theory is that those who have Zim will go first because they want to "retrieve" it within 72 hours. Be sure to take the other currencies with you, when you exchange the Zim. Finally, have fun with this! It will be joyful. When you come out, after an hour to 2 hours, be cool, calm and collected.
Winds of Change By Elmer
The winds of change leave gentle reminders that touch my soul.
A passion and hunger burns inside me.
I thirst for knowledge that seems to never be satisfied and it causes me greater thirst.
I yearn more and more for its understanding!Like the wind, I can feel it and you know it's there but you just can't touch it, making you want to hold onto it more.
The wind reminds me constantly of what is coming, yet it never tells me when it will end.
Although gently, it's Stirs me, awakens me vigorously looking for answers, I can't hold on too, yet I see its purpose.
The wind reminds me I am alive to search for truth and understanding.
Its gentle touches let's me know my quest isn't in vain.
For the winds of change is here with me!
ReddStarr: New MoU to open up trade......sounds like they are ready to get things going...IMO
Iran, Iraq to sign Trade MoU!
Iraqi Deputy Trade Minister Walid Habib al-Helou has reportedly announced that Tehran and Baghdad will sign a new memorandum of understanding (MoU) in the near future.
The Deputy Minister called for increased trade between Iran and Iraq, adding that the MoU will remove obstacles to trade.
Emailed to Recaps:
"Deutsche Bank Poses The Greatest Risk To The Global Financial System": IMF
by Tyler Durden
Jun 30, 2016 5:58 AM
Over three years ago we wrote "At $72.8 Trillion, Presenting The Bank With The Biggest Derivative Exposure In The World" in which we introduced a bank few until then had imagined was the riskiest in the world.
As we explained then "the bank with the single largest derivative exposure is not located in the US at all, but in the heart of Europe, and its name, as some may have guessed by now, is Deutsche Bank. The amount in question? €55,605,039,000,000. Which, converted into USD at the current EURUSD exchange rate amounts to $72,842,601,090,000.... Or roughly $2 trillion more than JPMorgan's."
So here we are three years later, when not only did Deutsche Bank just flunk the Fed's stress test for the second year in a row, but moments ago in a far more damning analysis, none other than the IMF disclosed that Deutsche Bank poses the greatest systemic risk to the global financial system, explicitly stating that the German bank "appears to be the most important net contributor to systemic risks."
Yes, the same bank whose stock price hit a record low just two days ago.
Here is the key section in the report:
Domestically, the largest German banks and insurance companies are highly interconnected. The highest degree of interconnectedness can be found between Allianz, Munich Re, Hannover Re, Deutsche Bank, Commerzbank and Aareal bank, with Allianz being the largest contributor to systemic risks among the publicly-traded German financials. Both Deutsche Bank and Commerzbank are the source of outward spillovers to most other publicly-listed banks and insurers. Given the likelihood of distress spillovers between banks and life insurers, close monitoring and continued systemic risk analysis by authorities is warranted.
Among the G-SIBs, Deutsche Bank appears to be the most important net contributor to systemic risks, followed by HSBC and Credit Suisse. In turn, Commerzbank, while an important player in Germany, does not appear to be a contributor to systemic risks globally. In general, Commerzbank tends to be the recipient of inward spillover from U.S. and European G-SIBs. The relative importance of Deutsche Bank underscores the importance of risk management, intense supervision of G-SIBs and the close monitoring of their cross-border exposures, as well as rapidly completing capacity to implement the new resolution regime.
The IMF also said the German banking system poses a higher degree of possible outward contagion compared with the risks it poses internally. This means that in the global interconnected game of counterparty dominoes, if Deutsche Bank falls, everyone else will follow.......