BACKDOC: JUST A QUICK NOTE SINCE I WILL HAVE TO CRASH.
HONG KONG MARKETS ARE DOWN TODAY DUE TO A HOLIDAY IN CHINA.
EAST TO WEST! YES! DOC IMO
Mountainman: TWO WORDS.......MAY DAY........Hmmm
(8)=New Beginnings........for the EAST to find it's WAY WEST........IMO
Mountainman: A Cry for Mercy is way Out of reach for this US TERRITORY........The Edge has Melted Away and FLOTATION Instruments are Gone
......So Now What.....???......Well It's A Crisis Everywhere and Now is the TIME for Change.....Unfortunately it will Get Worse Before it gets better on this Front......IMO
Blessings,Mountainman (8)=New Beginnings......for A Storm w/ Unseen Measures
Thunderhawk: Backdoc Alert
Puerto Rico Will Default on Government Development Bank Debt
Puerto Rico will default on a $422 million bond payment for its Government Development Bank, escalating what is turning into the biggest crisis ever in the $3.7 trillion market that state and local entities use to access financing.
Governor Alejandro Garcia Padilla invoked a debt moratorium law approved last month, saying during a televised address Sunday that the commonwealth needs to focus on providing essential services. The bank, already operating under an emergency period, had until the end of Monday to make the payment.
“Faced with the inability to meet the demands of our creditors and the needs of our people, I had to make a choice,” Garcia Padilla said during his 10-minute speech. “I decided that essential services for the 3.5 million American citizens in Puerto Rico came first.”
The GDB missed payment may open the door to larger and more consequential defaults on general-obligation bonds, which are protected by the island’s constitution. Puerto Rico and its agencies owe $2 billion on July 1, including $805 million for general obligations. It also could imperil slow-moving efforts by U.S. lawmakers to resolve the biggest crisis ever in the tax-exempt market
Mountainman: WOW.......If this Isn't A Calculation of BANK RISKS.......Banks are in Huge trouble Now.....Way Over leveraged and in Serious Trouble......Many didn't Fair to well in the Feds Stress tests on Banks Loans to Capital on Hand Ratios......and w/ the BIS it's Serious BUSINESS for Winners and Losers based on Priority of What and When (THEY) can Help......a Means of Last RESORTS.....Yikes
The Gig is Up.....Look Out Below.......IMO
Blessings,Mountainman (8)=New Beginnings......for LIQUIDITY ISSUES.........
Thunderhawk: Backdoc Alert
Fed may need more powers to support securities firms during crises: Dudley
The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday.
"Providing these firms with access to the discount window might be worth exploring," Dudley said in prepared remarks at a financial markets conference in Amelia Island, Florida organized by the Atlanta Fed.
The discount window is a credit facility through which banks borrow directly from the U.S. central bank in order to cope with liquidity shortages.
The Fed currently has limited ability to provide funding to securities firms in such situations, with the discount window only available to depository institutions.
But the transformation of securities firms since the financial crisis, Dudley said, with the major ones now part of bank holding companies and subject to capital and liquidity stress tests, meant the environment has now changed.
Read more at: http://www.reuters.com/article/us-usa-dudley-idUSKCN0XS1O2
Mountainman: As DOLLAR Values/Stocks/Treasuries are Declining the Key for Markets is to Hit HARD COMMODITIES.....a Safe haven of Sorts=Precious Metals and Agriculture is always needed.....People have to eat.....and these Areas are Feeling the DOLLARS Demise knocking at the Door......IMO
Blessings,Mountainman (8)=New Beginnings......for Commodities
Thunderhawk: Backdoc Alert
Commodities Overtake Stocks, Bonds With Best Rally Since 2010
The global gluts that have plagued markets from crude oil to zinc are finally starting to subside, sending commodities to their biggest monthly gain since December 2010.
The Bloomberg Commodity Index, a measure of returns for 22 components, climbed as much as 1.1 percent on Friday to the highest since November. The gauge climbed 8.5 percent in April, beating returns for indexes of global equities, high-yield and investment grade, bonds, Treasuries and all major currencies. Oil in New York posted the biggest monthly gain in a year, and gold reached the highest in more than a year. Read more at:
Mountainman: Yes The People......Leave it to the People......After we Sell it to the PEOPLE......LOL......By Brits......and Scotland says......NOT w/out us .....Chap.....LOL......and the CASCADE of FALLING Giants will Continue from Here.....One by One......IMO
Blessings,Mountainman (8)=New Beginnings......for A SCOTTISH (RIGHT) ......to Leave
Thunderhawk: Backdoc Alert
Brexit Would Boost Scottish Independence Calls, SNP Leader Says
Scottish First Minister Nicola Sturgeon predicted rising support for a second independence referendum if Britain votes to leave the European Union
“The prospect of Brexit would definitely lead to growing demand for Scottish independence,” the Scottish National Party leader told BBC Television’s “Andrew Marr Show” on Sunday. “If we see that growing demand, no one would have the right to stand in the way of that.”
Sturgeon made her comments as a new poll gave a narrow lead to the Brexit campaign less than two months before Britain holds a referendum on its EU membership. Forty-six percent of voters want to leave the bloc, 43 percent back staying in and 11 percent are undecided, the survey by ICM Ltd. for the Sun on Sunday newspaper found. Read more at:
Mountainman: Yes it's Painful China....but the IMF Prescribed these Very TAX Over Hauls........Revenue is the ENGINE that generates the SPEED of
Making Ones economy Consumer Driven.....this is just a Part of the TRANSITION and in the End it Will Take the Load Off of The Government.....Unfortunately the Citizens will Carry the brunt......Oh the costs of Playing by the RULES.....Says CHINA.......IMO
Blessings,Mountainman (8)=New Beginnings......Of Pain in A New Growth Model
Thunderhawk: Backdoc Alert
China's tax overhaul aims to cut business costs
China has rolled out a value-added tax (VAT) system across all industries that previously had a business tax, in the most ambitious overhaul of its tax regime in three decades.
The world's second-largest economy is stumbling through its slowest growth in a quarter century but is continuing with tough reforms in its transition to a services-oriented economy from one powered by manufacturing.
The government first began experimenting with a VAT in 1979 and started applying the tax to specific sectors in 2012. The final four sectors to adopt a VAT on Sunday are construction, property, finance and life services - which includes food and beverage, healthcare and tourism industries.
Premier Li Keqiang had said the reforms would be adopted by May 1 in his work report at the annual parliament in March.
A business tax directly taxes businesses, whereas a VAT - sometimes known as a goods and services tax - is borne by the end consumer, reducing the burden on companies which are facing rising costs and a slowing economy. To read more:
Thunderhawk: Iran pushing for global banking reintegration: CNBC
The Central Bank of Iran (CBI) is pushing to reintegrate Iranian banks into the global banking system, says a CNBC report.
According to the US television network, the governor of CBI, Valiollah Seif, has told the channel about his recent meeting with the Financial Action Task Force (FATF), the policy-making body of the international financial system, in Paris, France.
Seif said FATF representatives "were surprised by the steps taken by the Iranian banks and financial institutions," and "that they were not aware of the changes we have made in our banking sector."
The report said the CBI chief’s efforts were meant to take Iran off a FATF blacklist that alleged its support for terrorism.
It said the country’s move to get off the list is probably due to issues it faces accessing overseas money owed to Tehran.
Seif expressed confidence that Iranian banks would be removed from the blacklist, though he did not give a timeframe.
FATF confirmed a recent meeting but declined to comment on its content or the tone, CBNC noted.
Last month, the head of CBI called on the United States to feel responsible for banking ambiguities impeding Iran’s access to European Union (EU) financial institutions.
Seif, who had traveled to the US in April to participate in the spring convention of the International Monetary Fund (IMF), told the official IRNA news agency that America needed to act in lockstep with the Last July nuclear agreement which envisaged Iran’s access to international financial transaction.
He warned that failure to do more to integrate Iranian banks into the global economy could jeopardize the nuclear agreement.
Mountainman When it Comes to KNOWING....A Country is A PLAYER in this New Reality and their Resources/Economy is A Sure thing......Who wouldn't Jump Over Hoops and Cut the Red tape of Debt......???.....Germany says Here ye here ye.....We will Set Aside these Outstanding Debts for Now......Because IRAN the MONEY we and Others will Make in this New Transition of Values is going to Be Amazing for Us both.....Are You In.....???.......GOOD.....Us too.....IMO
Blessings,Mountainman (8)=New Beginnings.......for a Sweet ALLIANCE........
Thunderhawk: Siemens top official: German economy minister visit to Iran 'very important'
A leading Siemens executive officer said that the upcoming visit to Iran by German Economic Minister Sigmar Gabriel is 'very important.'
Gabriel, the co-chairman of Iran-Germany economic commission is to meet with his Iranian counterpart Ali Tayyebnia in Tehran on May 2-3.
Commenting on the significance of the German minister's visit to Iran, Siegfried Russwurm, a member of the managing board of Siemens AG, said the visit aims at deepening Tehran-Berlin lasting bilateral relations following Iran's landmark nuclear agreement called as the Joint Comprehensive Plan of Action (JCPOA).
Pointing to the fact that Gabriel visited Iran only five days after the historic signing of the JCPOA in Vienna on July 14, 2015, Russwurm said that numerous German politicians and business leaders have already visited Iran over the past months to resume economic ties after lifting of the Iran sanctions.
Russwurm who is to accompany Gabriel on his trip to Iran where both will attend the 5th joint economic commission on Monday and Tuesday, said that German companies have been very determined to jump-start their business activities with Iran.
Elaborating on the upcoming joint economic Commission, Russwurm said talks would focus on various fields of economic cooperation, including health and energy, as well as transfer of technological know-how and vocational training.
Russwurm, the Siemens director for the Middle East and CIS operations, said that the meeting would also dwell on the banking problems, financing models and Iran's outstanding debts.
On the debt issue, Russwurm expressed optimism that a solution could be found during Gabriel's visit to the Islamic Republic of Iran. Read more at: