We have really arrived! From Martha, sent to Dinar Recaps
Depending on who's intel you want to be believe, on October 22,2015 was truly a completion and start of not only our future, but that of Iraq and a whole new world so to speak.
As we await our time to go to the bank, realize that come Monday 10/26/2015 the whole financial world will wake up to a total shift in the world markets. NO, it won't be a crash, but a change in how the world financial system will function in the future.
This will be a starting point to re-alignment and "balance"(like in US budget).Every country will have the opportunity to work, manufacture, produce, invent, explore, and re-education each other in a peaceful atmosphere.
God created this beautiful planet and now it is time to clean up and re-create what God wanted for us and earth.
We will shortly leave the chat rooms but I hope that we don't forget what brought us here in the first place; and how a simple exchange turned into a worldly game changer.
Now go forward and help those you can…..educate and communicate. Be part of the re-creation.
There are no more halts in this journey.
Be prepared and hopefully you all have learnt something from all of us.
My projects await my attention so I will say a final good by. I have enjoyed sharing what information I had but it is time for each and every one of you to take the time to re-educate yourselves and your families. Martha
Greenstream: IMO, when china comes in w/ the RMB, and yuan these are both gold / asset backed currencies, America has no choice then to go asset backed too,
Greenstream: imo, the IMF has put the China RBM on a fast track to become another reserve currency, congress says they are out of funds Nov. 3rd, China worked out bond deals w/ the queen of England, lots going on. GCR sounds like would be a great move???? hmmm.
[concan] How To Make $3 Trillion Disappear http://www.npr.org/sections/money/
After the financial crisis, the Fed created over $3 trillion. To undo this, they have a new trick. Today on the show, how the Federal Reserve plans to make that money disappear.
Roush: Iceland sentences 26 bankers to a combined 74 years in prison
October 22, 2015 in Economy, Financial Crisis, News by Slad
James Woods | October 21, 2015
In a move that would make many capitalists’ head explode if it ever happened here, Iceland just sentenced their 26th banker to prison for their part in the 2008 financial collapse.
In two separate Icelandic Supreme Court and Reykjavik District Court rulings, five top bankers from Landsbankinn and Kaupping — the two largest banks in the country — were found guilty of market manipulation, embezzlement, and breach of fiduciary duties.
Most of those convicted have been sentenced to prison for two to five years. The maximum penalty for financial crimes in Iceland is six years, although their Supreme Court is currently hearing arguments to consider expanding sentences beyond the six year maximum.
After the crash in 2008, while congress was giving American banks a $700 billionTARP bailout courtesy of taxpayers, Iceland decided to go in a different direction and enabled their government with financial supervisory authority to take control of the banks as the chaos resulting from the crash unraveled.
Back in 2001, Iceland deregulated their financial sector, following in the path of former President Bill Clinton. In less than a decade, Iceland was bogged down in so much foreign debt they couldn’t refinance it before the system crashed.
Almost eight years later, the government of Iceland is still prosecuting and jailing those responsible for the market manipulation that crippled their economy. Even now, Iceland is still paying back loans to the IMF and other countries which were needed just to keep the country operating.
When Iceland’s President, Olafur Ragnar Grimmson was asked how the country managed to recover from the global financial disaster, he famously replied,
“We were wise enough not to follow the traditional prevailing orthodoxies of the Western financial world in the last 30 years. We introduced currency controls, we let the banks fail, we provided support for the poor, and we didn’t introduce austerity measures like you’re seeing in Europe.”
Meanwhile, in America, not one single banking executive has been charged with a crime related to the 2008 crash and U.S. banks are raking in more than $160 billion in annual profits with little to no regulation in place to avoid another financial catastrophe.
IWFG1818: ..."Meanwhile, in America, not one single banking executive has been charged with a crime related to the 2008 crash and U.S. banks are raking in more than $160 billion in annual profits with little to no regulation in place to avoid another financial catastrophe."
Oh, and don't forget about all those mega bonuses and luxury parties post bailout...
Of course we didn't punish them. Instead we rewarded them and then we transferred them into influential financial govt positions - because of their "expertise"! And they fixed the problems, right? Look how good things are now! Right?
What!?!? Am I missing something...?
Bailed-out banks gave millions in exec bonuses, NY AG report ...
Bailed-out banks gave millions in exec bonuses, NY AG report shows. ... bailout money, gave employees $5.33 billion in bonuses for 2008, New York's ... of the bailout, gave 738 of its employees bonuses of at least $1 million, even after it lost ... Of the $45 billion in bailout funds Bank of America received, $20 billion was to ...
Bankers Reaped Lavish Bonuses During Bailouts - The New York ...
Jul 30, 2009 - Wall Street's million dollar club had nearly 5000 members in 2008, New York's ... Bankers Reaped Lavish Bonuses During Bailouts .... on their bonus pools to a House committee and to Mr. Cuomo after the bailout last year.
MoneyInn: What Will It Mean for the Yuan to Get IMF Reserve-Currency Nod?
October 24, 2015 --
At least $1 trillion of global reserves may migrate to yuan
Successful bid would boost Xi's economic reform efforts
International Monetary Fund representatives have given China strong signals that the yuan is likely to soon join the fund’s basket of reserve currencies, known as Special Drawing Rights, Chinese officials with knowledge of the matter told Bloomberg News this week. Here’s a primer on what that means.
What is a Special Drawing Right?
The fund created the SDR in 1969 to boost global liquidity as the Bretton Woods system of fixed exchange rates unraveled. While the SDR is not technically a currency, it gives IMF member countries who hold it the right to obtain any of the currencies in the basket -- currently the dollar, euro, yen and pound -- to meet balance-of-payments needs.
So the ability to convert SDRs into yuan on demand is crucial. Its value is currently based on weighted rates for the four currencies.
How much of these SDRs are out there?
The equivalent of about $280 billion in SDRs were created and allocated to IMF members as of September, compared with about $11.3 trillion in global reserve assets. The U.S. reported about $50 billion in SDR holdings as of August.
Why does China want this status so badly?
In a 2009 speech, People’s Bank of China Governor Zhou Xiaochuan said the global financial crisis underscored the risks of a global monetary system that relies on national reserve currencies. While not mentioning the yuan by name, Zhou argued that the SDR should take on the role of a “super-sovereign reserve currency,” with its basket expanded to include currencies of all major economies.
Chinese officials have since been more explicit. After meeting President Barack Obama last month at the White House, President Xi Jinping thanked the U.S. for its conditional support for the yuan joining the SDR. Winning the IMF’s endorsement would allow reformers within the Chinese government to argue that the country’s shift toward a more market-based economy is bearing fruit.
Why is the IMF likely to approve this?
Global use of the yuan has surged since the IMF rejected SDR inclusion in the last review in 2010. By one measure, the currency became the fourth most-used in global payments with a 2.79 percent share in August, surpassing the yen, according to the Society for Worldwide Interbank Financial Telecommunication, known as Swift.
The IMF uses several indicators to determine if a currency is “freely usable,” the benchmark for inclusion in the SDR basket. IMF staff members said in a report in August that the yuan trails its global counterparts in major benchmarks, such as its use in official reserves, debt holdings and currency trading. But staffers have also stressed that the fund’s 24 executive directors, who will make the final call, will need to use their judgment.
Many major economies, including the U.S., Germany and U.K., say they’re prepared to back the yuan’s inclusion if it meets the IMF criteria. Supporting the yuan may boost relations between China and countries such as the U.K., which has sought to make London a major yuan trading hub.
Adding the yuan to the basket may also help the IMF improve its standing with the Chinese. China and other emerging markets were supposed to gain greater representation at the fund under reforms agreed to in 2010, but the U.S. Congress has yet to ratify the changes.
What’s likely to happen to yuan assets in the longer term?
At least $1 trillion of global reserves will migrate to Chinese assets if the yuan joins the IMF’s reserve basket, according to Standard Chartered Plc and AXA Investment Managers.
Foreign companies’ issuance of yuan-denominated securities in China, known as panda bonds, could exceed $50 billion in the next five years, according to the World Bank’s International Finance Corp.
“Once the Chinese yuan becomes part of the SDR, central-bank reserve managers and institutional investors will automatically want to accumulate yuan-denominated assets,” Hua Jingdong, vice president and treasurer at IFC, said in an interview in Lima earlier this month during the IMF and World Bank annual meetings. “It will be strategically important for China to welcome all kinds of issuers to become regular issuers in China’s onshore market.”
Frank26: IMO those steps start with the IMF and Iran in December.
MR into 2016 with RI/RV before the end of the year.
Their MR pace will be the fastest in IMF history.
Now I have to say ........... IMO TY. KTFA Frank
Moneytalks1: Infallible congratulates Ban Ki-moon and confirms the completion of the comprehensive national reconciliation in Iraq
24-10-2015 04:00 PM
President of the Republic Fuad Masum, confirmed in a letter each to the Secretary-General of the United Nations Ban Ki-moon design on the completion of a comprehensive national reconciliation in Iraq exclude terrorists.
He said a presidential statement today, that infallible "sent a message of congratulations to the Secretary-General of the United Nations Ban Ki-moon on the occasion of the 70th anniversary of his The United Nations, which coincides with today praising the considerable achievements of the United Nations to maintain peace and security and to support development and human rights in various regions of the world, and wished the United Nations further success and progress.
"He called on the wrist in his congratulations to" strengthen the United Nations and the international community's role in supporting the Iraqi people in the current war against terrorism as well as helping Iraq in the reconstruction of the liberated areas from the control of the organization Daash terrorist and an end to the plight of displaced Iraqis.
"Masum said in the text of his message to Ban Ki-moon, on the occasion of the seventieth anniversary of the founding of the United Nations Organization, I offer you my name and the name of the people Iraqi warmest congratulations Almsthoudra lessons learned from the history of the struggle of Nations and the efforts of women and men for the triumph of a message of equality, freedom and peace, progress and prosperity for all human beings.
"He added," is the message seems greater need today to confront the evils of terrorism and the risk of calls to hatred and racism and the other atonement and human rights abuses, without neglecting the urgent need to share best on the basis of justice in the right of life development, progress and peace within a comprehensive and new global development program takes into consideration the support of developing countries and the fight against desertification, pollution and conclude a new agreement on climate protection and other global gains, which calls for Iraq as a founding member and active and committed to life in the United Nations Organization to strengthen the central role played by the organization in uniting the interests of the Member States have to join their efforts together towards the achievement of common goals serve the peoples of the whole world.
"said President of the Republic" take this precious opportunity, to urge the United Nations and the international community to continue and intensify support the Iraqi people in the current war against terrorism as well as helping Iraq in the reconstruction of the liberated areas from the control of the organization Daash terrorist and an end to the plight of millions of displaced Iraqis, while we renew design Iraq to complete comprehensive national reconciliation and a genuine all-inclusive except terrorists and respecting the interests of all of the components and the provinces of Iraq.
"He" I can not fail on this occasion the task to express to you and all your colleagues working in the United Nations warmest congratulations and wish you every success in carrying out your mission noble in the service of humanity.