Nomadandboop: My bank story in N. Central Fl.
I asked a question of my W/M at my W/F branch to see what kind of response I would get. Do I have to follow the crowd or can I come to you and do my currency exchanges and just have you manage my accounts and this is an exact quote,
"Once Wells is put into the exchange process and accepts the transaction, yes. You can come see me to do both at my office. I hope all is well. Talk soon."
This is the same guy that told me 3 weeks ago W/F was ready 2 years ago and backed off because things kept being on again off again and until Iraq got their act together they weren't going to do a thing.
hotrod49 : A forex option trading platform I use announced they have been advised by their traders not to trade today because of News in the Market !! I wonder what that could be ?? RV ??
Kauaihn: Fed Urged by IMF to Postpone Rate Liftoff to First Half of 2016
Fed Urged by IMF to Postpone Rate Liftoff to First Half of 2016
June 4, 2015 — 9:30 AM EDT
The Federal Reserve should hold off from raising interest rates until the first half of 2016, the International Monetary Fund said as it cut its U.S. growth forecast for the second time in three months.
The lender also said that the dollar was “moderately overvalued” and a further marked appreciation would be “harmful,” in a statement released in Washington on Thursday on its annual checkup of the U.S. economy.
“The FOMC should remain data dependent and defer its first increase in policy rates until there are greater signs of wage or price inflation than are currently evident,” the IMF said. Based on the fund’s economic forecast, and “barring upside surprises to growth and inflation, this would put lift-off into the first half of 2016.”
A stronger dollar, declining oil investment and a West Coast port strike in the first quarter will pull down U.S. growth to 2.5 percent this year, said the fund, which previously projected the world’s largest economy to expand by 3.1 percent in 2015. Economists surveyed by Bloomberg also expect U.S. growth of 2.5 percent this year.
Federal Reserve Chair Janet Yellen on May 22 said she still expects to increase interest rates this year if the economy meets her forecasts. The Fed, which hasn’t raised rates since 2006, will need to see continued improvement in labor market conditions and be “reasonably confident” that inflation will move back to 2 percent, she said.
Investors currently expect the Fed to move in December, according to bets placed in interest-rate futures markets.
The strengthening dollar and global disinflationary trends will probably weaken inflation pressures, according to the IMF.
The personal consumption expenditures price index, the Fed’s preferred inflation measure, increased 0.1 percent in April from a year earlier, marking the smallest 12-month gain since 2009, according to government figures.
“Inflation inertia, firmly anchored expectations, Fed credibility and a relatively flat relationship between inflation and slack suggest that a sudden acceleration in wages or prices is unlikely,” the IMF said in the 10-page statement.
The dollar, which rose 13 percent in real effective terms over the past 12 months, is “moderately overvalued” and is hurting U.S. growth and job creation, the fund said.
“There is a risk that a further marked appreciation of the dollar -- particularly one that takes place in an environment where policies to address growth deficiencies languish both in the U.S. and abroad -- would be harmful.”
The report also discussed financial stability, with the IMF pointing to higher risks in shadow banking, a potential lack of liquidity in fixed-income markets, and greater market risk-taking in the insurance industry
Topic: The only thing worse than being blind is having sight but no vision. Helen Keller
Thunderhawk » June 4th, 2015, 11:59 am
Euro rally, bond selloff ease; Greece eyed
A bond market selloff that had rattled financial market confidence eased on Thursday, while the euro paused after a strong two-day run against the dollar, as investors looked for signs of progress in Greek debt negotiations.
German 10-year Bund yields DE10YT=RR, the benchmark for European debt costs, pulled back to 0.826 percent after rising to 0.998, the highest level since September 2014. The euro EUR= was last down 0.1 percent at $1.1262 after it had powered up to $1.1379, its highest level since May 18.
The euro had surged more than 3 percent over the prior two days, its biggest two-day run since March 2009.
"It seems to me that it is Europe that is driving most of what is going on right now - negotiations that are going on with Greece, the volatility in German Bunds, those sort of things." said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin.
"If those things settle down, then our markets will settle down into what they would normally do, which is get quiet before the big monthly reports."
The U.S. employment report for May is due Friday.
Wall Street managed to once again find support near its 50-day moving average of around 2,100. The S&P 500 index hit a session low 2,100.58 before rebounding. It has bounced from that level several times in the past week.
Marginally better-than-expected jobless claims data helped narrow the expected opening declines, although that was balanced by a plunge in productivity figures. The data is likely keep the Federal Reserve on track to raise interest rates later this year.
In its annual assessment of the U.S. economy, the International Monetary Fund said the Federal Reserve should delay a rate hike until the first half of 2016 until there are signs of a pickup in wages and inflation.
The Dow Jones industrial average .DJI fell 72.37 points, or 0.4 percent, to 18,003.9, the S&P 500 .SPX lost 7.56 points, or 0.36 percent, to 2,106.51 and the Nasdaq Composite .IXIC dropped 11.17 points, or 0.22 percent, to 5,088.06.
MSCI's all-country world index .MIWD00000PUS of stock performance in 46 countries was up 0.58 percent. The pan-European FTSEurofirst 300 stock index .FTEU3 was off 0.58 percent.
U.S. Treasury yields US10YT=RR rose as high as 2.425 before retreating and prices were last up 12/32 in price to yield 2.3231 percent.
After a 4-percent jump on Wednesday, Greek shares .ATG fell 1.3 percent as uncertainty clouded the country's hopes of clinching an aid deal with euro zone creditors in coming days.
Greek Prime Minister Alexis Tsipras could return to Brussels for talks with senior EU officials as early as Friday night, an EU official said on Thursday, and discussions on a debt deal might include the heads of the IMF and European Central Bank.
In commodities, crude oil prices dropped as investors prepared for a widely-expected decision by OPEC members to maintain current production levels, despite worries over a global supply glut.
Brent crude LCOc1 slumped to $62.12 a barrel, a 2.7 percent fall, while U.S. crude was down $1.51 at $58.13 a barrel.
Walkingstick » June 4th, 2015,
Greece could become the latest BRIC to fall into place for Russia
Jun 4, 2015Peter Marzalik OPINION131
The potential entry of Greece into the $100 billion New Development Bank (formerly, the BRICS Development Bank) signals that Russia is serious about building the economic structure for a multi-polar world.
As a result of burdensome Western sanctions stemming from the Ukraine conflict, Russia continues to accelerate the expansion of multilateral projects – most notably the Eurasian Economic Union (EEU) and Shanghai Cooperation Organization (SCO) - aimed at counterbalancing Western military and economic institutions. The latest measure by Russia to counter the West is an effort to integrate Greece into the $100 billion New Development Bank (formerly known as the BRICS Development Bank), a step that may happen as early as mid-June.
The move, while surprising, has been foreshadowed for months. Russian President Vladimir Putin has labored to exploit divisions in the European Union in an attempt to erode Western sanctions and to strengthen non-European partnerships, particularly in Asia. Now, the potential entry of Greece into the burgeoning financial sphere of the BRICS signals an attempt to form a viable alternative to the two Western lenders most dominant in global financial governance - the World Bank and International Monetary Fund (IMF).
Over the last year, European Union (EU) policy amidst the Ukrainian crisis has exposed differences of opinion among EU members, which Russia adeptly exploited to woo Greece and other states into closer diplomatic integration. During a two-day meeting in April in Moscow, Greek Prime Minister Alexis Tsipras, recently elected on an anti-austerity platform, became readily amenable to Putin’s economic overtures offering a much less painful path than the deep, unpopular budget cuts required under an EU bailout set to expire in June.
Though the struggling Russian economy lacks the capacity to provide an alternative financial assistance package if bailout talks fail, Russia has started to lift an import ban on food suppliers in Greece, Hungary, and Cyprus meant to counter Western sanctions. Additionally, Russia has moved forward on development of the Turkish Stream pipeline expected to deliver Russian gas to Europe through Greece by 2019. These moves provide a welcomed boost to Greek markets still reeling from the 2008 global recession, solidifying greater ties between the two Orthodox nations.
In May, Russia surprised the world by extending an invitation to Greece to join the BRICS Development Bank (now known as the New Development Bank), a decision judged much less shocking after considering the advancing multilateral infrastructure amongst BRICS countries in recent years. In a much-anticipated showcase of expanding BRICS cooperation, Russia will host the 7th annual BRICS summit alongside the next SCO summit in the Russian city of Ufa on July 9-10.
These upcoming meetings build upon various political, economic, and military joint initiatives. Most recently, Russia celebrated Victory Day with Chinese leader Xi Jinping, pivoted away from Europe toward Asia via massive energy deals, and arranged military exercises with China and India, notably in the Mediterranean Sea. The BRICS countries now are ready to see if they possess shared vision and multilateral infrastructure capable enough to integrate a European nation at the economic level.
The potential entry of Greece into the $100 billion New Development Bank appears to bolster the claim that emerging powers have appeared to challenge the dominance of Western financial institutions in global governance and further systemize a multi-polar world. A final decision on integrating a sixth member should be discussed during the St. Petersburg Economic Forum on June 19-20.
Under dueling pressures from anti-austerity supporters and pro-unity EU creditors, Tsipras is facing a tough call on whether to accept the Russian invitation to join the BRICS bank. But fear of another financial meltdown coupled with uncompromising EU bailout terms might propel Greece into the latest BRICS financial venture.
Looking forward, the New Development Bank, particularly with the European pull of Greece, will both complement and compete with the World Bank and IMF to fund infrastructure projects and, by extension, assert geopolitical influence into developing countries. The growth of BRICS economic cooperation could even attract additional European or Asian partners. Ultimately, the admission of Greece into the New Development Bank adds further credence to the theory of a gradual erosion of Western-dominated global order toward a multi-polar world.
jdtolle: » June 4th, 2015, Get better
Don’t just get by. Get better.
Don’t stop when you’ve merely done enough. Keep going and take full advantage of the powerful momentum you have created.
You have what it takes to exceed your highest expectations. So expect the very best, and then do even more.
When you’ve made a little progress, keep it up. When you’re on the right track, keep moving.
Instead of rushing to get the job finished, look for all the ways you can extend and expand your efforts. Feel the satisfaction of making a difference, and let it inspire you to make an even bigger difference.
Enjoy all that you can achieve. And then build on those achievements to enjoy even more.
Ralph Marston Wishing All a safe and blessed day JDT
P.S. It is no use walking anywhere to preach unless our walking is our preaching.
-- St Francis of Assisi