I HAVE BEEN ON THE PHONE AND RECEIVING TEXT MESSAGES WITH TOP ADVISORS THIS MORNING REVIEWING OUR PAST AND PRESENT STATUS AS WELL AS DISCUSSING WHAT WE SEE HAPPENNG IN THE FUTURE.
THERE HAS BEEN MUCH TALK ABOUT REDEMPTION OF SKR'S AND MAKING THEM "LIQUID". THE TERM "LIQUID" REFERS TO THE ORIGINAL AGREED UPON RATE OF EXCHANGE BEING CONCLUDED WITH ACTUAL USUABLE CASH IN ACCOUNTS.
IT IS MY OPINION THAT HIS HAS HAPPENED FOR OWNERS OF CONVERTIBLE BONDS BUT IT DOES NOT INCLUDE THE HISTORICAL BONDS SUCH AS THE SUPER PACELLI'S AND SOME OF THE OLDER BONDS.
THE ACTUAL NUMBER OF TRANSACTION THAT HAVE TAKEN PLACE IS NOT RELAVENT. THE FACT THAT THEY HAVE OCCURED IS.
AdminBill: THERE HAVE BEEN SO MANY UPS AND DOWNS THAT IT IS HARD TO KEEP UP WITH IT ALL SOMETIMES.
FOR THE PAST WEEK I HAVE NOT BEEN ABLE TO CONNECT WITH ONE OF MY BEST CONTACTS WHO OWNS A VARIETY OF BONDS AND CASH. I MISTOOK THIS TO MEAN THAT THIS PERSON WAS LIQUID AND COULD NOT LONGER COMMUNICATE DUE TO AN ADDITIONAL NDA. I WAS WRONG.
THUS THE INFORMATION I WAS PRESENTING TO YOU WAS SKEWED BY MY MISINTERPRETATION. MY SINCERE APOLOGIES. THAT BEING SAID THE MOMENTUM HAS PICKED BACK UP AND THERE ARE CONTINUING REPORTS OF ACTIVITY AT VARIOUS LOCATIONS IN THE USA.
MY CONTACTS ALL REMAIN VERY POSITIVE BUT CONTINUE TO BE GUN SHY. WE REMAIN QUESTIONING WHO IS CALLING THE SHOTS AND WHY THIS CANNOT BE COMPLETED NOW. IF THIS IS AN EVENT DRIVEN PROCESS RATHER THAN BASED UPON A TIMELINE THEN WHAT EVENT MUST HAPPEN TO LIGHT THE FUSE?
I AM TOLD THAT THE TIMING REMAINS GOOD FOR THIS WEEK. LET'S HOPE THE END IS NO LONGER IN FRONT OF US. LET'S PRAY IT IS HERE, NOW.
Splash: How does a company lose 69 million customers? Just ask Citigroup Inc. "Citigroup, HSBC Jettison Customers as Era of Global Empires Ends"
Gerry Maguire: I WANT TO SAY THIS.....EVERYTHING WE READ ON THE INTERNET ABOUT THIS CURRENCY EXCHANGE ISNT ALWAYS TRUE....SO WE MUST USE GOOD JUDGEMENT... STAY GROUNDED READ 3 TIMES LISTEN AND THEN MAKE A DECISION...THE DISINFO...SPECIALISTS ARE NOW COMING OUT OF THE WOOD WORK ALONG WITH THE SCAMMER'S DONT BELIEVE EVERYTHING YOU READ.
Cheif53: Many looking for the negative interest bonds to finally crash the market… I don't look. hear from several very knowlegable people including Awake3D, IKO, and one other person on another call...that follows it closely
THE WINGIT CALL JULY 26th, 2016 ~ 3:30pm EST ~
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Greatlyblessed: IMF sets New SDR Calculation Method for Prepare for Yuan's Entry..
The International Monetary Fund on Monday said it adopted a new methodology for calculating the currency amounts in the Special Drawing Rights (SDR) the fund uses for transactions, partly to ensure that China's yuan meets the IMF Board's intended weighting.
The changes will apply to a historic rebalancing of the SDR basket on Oct. 1 to include the yuan for the first time, a step that gives China prized reserve currency status and moves the yuan a step closer to being freely usable internationally.
The relative amounts of dollars, euros, yen, pounds and yuan to achieve these weightings in the SDR basket will be set on Sept. 30 and will be fixed for five years.
But the IMF said its previous method of calculating currency amounts in past rebalancings had caused deviations from the intended weights due to complex rounding calculations and other issues. In the 2010 rebalacing, the old method resulted in a dollar weighting that was nearly half a percentage point above the board's intended target.
The new method will involve simpler rounding calculations out to five significant digits, with the potential to round to six digits to more accurately match intended weightings.
The IMF said the method will be easier to replicate on a simple spreadsheet, providing more transparency to market participants.
"The amended methodology allows final currency amounts to produce currency weights that are very close to the weights adopted by the IMF," the fund said in a statement.
In November 2015, the board agreed to introduce the yuan into the SDR basket with a weighting of 10.92 percent. It left the dollar relatively unchanged at 41.73 percent, and reduced weightings for the euro, yen and pound to 30.93 percent, 8.33 percent and 8.09 percent, respectively.
The dollar has risen in value significantly against these currencies since the decision.
In the run-up to the yuan's introduction into the SDR, the IMF said it will publish weekly the prospective calculations of the currency amounts in the SDR basket using the new method.
Ty1: In thinking about the 2 x 2 x 2 if the ISX is going to be connected to the world on September 2nd it would seem hard to imagine that they could wait until September 2nd to issue a new rate?
I think this especially rings true if in fact they plan on bringing out at 1:1 to the USD and then allowing it to float to the intended $3+ range to be within $.50 of the Kuwaiti Dinar.
It would only stand to reason that the 1:1 rate would have to be imminent now and the float to 3+ would have to happen by the 9/2 in order for the ISX and the stocks listed on that exchange to be valued properly at the time of global entry...I could be way off but just something to ponder...Thanks for all you do Frank and others!
Jay: Its IEX that’s going live on the 2nd.
I would have agreed with you about the 1-1 before IEX goes live if it were not for the fact the our Fearless leader lead me to believe the value would not change until after Sept 2nd (in a nut shell)
Unless I misunderstood, which is quite possible...lol IMO..of course. Blessings to you.
Johnwg49: I would tend to agree with this, however, I think our Fearless leader said at one point that there might be 2 rate changes, but the situation is complicated and he would explain it on our last conference call.
I listened to the call, but had issues with livestream and didn't hear the explanation of the complicated situation if it was covered. Basically, I am saying there might be more than 1 rate change and both of you may be correct.
Mike100: interesting you know this makes me think back to the fact Frank told us that we may never see a 1-1 because its not for our eyes outside of Iraq. I have been very reluctant to post this in the past but could the 1-1 already be in country but we just cant see it? and the true value will be somewhere in the 3+ internationally when its time to reveal it?