Semperfi01: Had dinner with an old friend. Now I know why no reserves I ran into an old three letter friend that my team had worked with back in the 80s.
My wife and I were just getting the boat docked going to have dinner and a few drinks when here comes this 42' Fountain with a couple of guys on it backing in beside the Semperfi, so I go over to help tie her off
I wasn't really paying attention when I heard one of them yell out DOGG is that you you old so and so haven't seen you since -------- is that you.
Why h*** yes it's me and the last time I saw you a building was coming down on your head. We took fire for two days trying to find you. I digress anyway after slamming back a few I had to ask him if he knew about the RV and the GCR.
Well he did lets just say that. After a couple hours of shop talk I questioned him about what had happened to the reserves?
He began to explain that in the beginning of the reserves the PTB wern’t concerned with them because oil was so high they could cover them…. what little of them they were because it was going soon.
But when OPEC refused to limit production they knew they were going to have a big problem with such huge reserves and dropping oil prices it could be covered.
That's where the good idea fairy came into play. Because they don't want all these new million and billionairs they killed two birds with one stone… how you ask? ….he told me. They knew they were going to kill the reserves if oil didn't get back to at least 70$ a barrel.
What better way to limit the money than to let all these people keep putting a few dollars down on reserves… bird in the bush as it were… instead of all that money going to currency in hand, Or bird in the hand.
No reserve to exchange No currency to exchange they saved a bundle.
Makes sense doesn't it. Think about it. They are that good. More later.
IGT2011: Thanks for the post...Too many rich people might sway the balance of power in this country and the PTB won't have that...
MoneyMagnet: I think those that have thought this out know that what you say is true. And honestly we have been warned that this was the case many times in a back handed way.
Iko Ward ; Nothing of note this AM. China Market is up 5%, the rest are mixed. ISX down another 1%, no new scrolls. Forex continues to creep up, but it's a slow creep. 1121.7 this AM. Of course, the big news is from Elmer on Maliki, but the markets aren't registering yet. Rumors of whales cashing out. I'm waiting for the call. it's all very positive.
Mangelo: I think when Abadi takes the manual vote tomorrow in Parliament, and they raise their hand and vote yes, he will ask them and now do you want to increase the dinar?
RVAlready: Hopefully, everything will pass in parliament tomorrow, and the CBI will bump the rate up immediately, and we will be at the bank before the end of the week. Abadi has the bull by the horns now.
Millionday : ABADI IS MAKING CHANGES IN POSITIONS TO NOT ONLY REDUCE COST BUT CORRUPTION TOO... MINIMIZING GOVERNMENT PAY AND POSITIONS...
HUGE PROGRESS AND HOPE FOR THE CITIZENS FOR THE NEW IRAQ.
BGG : It was my take - they were expecting a better rating than b- and some interest in their bond offering... "blew up in their face" meaning - that plan alone won't save their bacon...no matter what the rating - at this point, I foresee a "tepid" response to their bond offering (at best!!)...
I am very curious to see how this next set of events unfolds... this is a very interesting turn of events.
Chinese Trust" - Intelligence Report from Scorpio for Monday, August 10
(Note: This is completely raw intel from Classified sources and may or may not come to fruition. User discernment is advised. ~ Dinar Chronicles)
Intelligence Report - Mon, Aug 10, 2015 at 7:33
Report for this morning is that a contact in Europe provided news that the Iraqi Dinar had revalued at a rate of $9 and it will show up in the U.S. in a short while.
Another source had also reported that the Dinar had revalued worldwide.
Reports from Reno claim that the Chinese had opened a trust yesterday to pay the Admiral and all 18 groups.
Other reports claim that we will be seeing this on Monday or Tuesday.
Walkingstick » August 10th, 2015,
China announces new yuan banknotes designed to foil counterfeiters
August 10, 2015, 5:42 am
The Chinese central bank on Monday announced it would issue a brand new version of the 100-yuan bank note from November 12.
The new bills, which are slated to roll out later this year, will be loaded with next-generation security features to deter counterfeiting and easier for machines to read, claimed the People’s Bank of China.
Part of the fifth set of bank notes introduced by the PBOC in 1999, it was last changed in 2005.
The design of the new bank note will stay largely the same as the the 2005 series but have enhanced security features, the PBOC said.
The 100-yuan note is the largest denomination of the Chinese currency.
The old version of the 100-yuan note will stay in circulation following the new edition, the PBOC added.
China’s yuan remained stable on Monday with the spot market opening at 6.2097 per dollar and was changing hands at 6.2096 at midday, almost unchanged from the previous close.
JDTolle » August 10th, 2015, Let fear show you
Don’t let your fear stop you. Let it show you what you must do.
When you are taking on new challenges, the ones that stretch your abilities, you will feel fear. That’s good, and of great value.
Fear is certainly not anything to be avoided. It is something from which you can learn, something through which you can grow stronger.
Let your fear show you what is most important to you. Let your fear show you how you can build your courage.
Real progress is made by doing what is uncomfortable to you. Real progress is made by doing what you fear.
Accept, acknowledge, respect and appreciate your fears, and find new fulfillment in working through them. The dreams and aspirations that push you through your fears are the ones very much worth following.
Ralph Marston Wishing All a safe and blessed day JDT
P.S. Life is not a matter of holding good cards, but sometimes, playing a poor hand well.
-- Jack London