Thanks My Ladies for Letting us share from your private chatroom
Bandito Rox: Statement by the IMF on Greece Press Release No.15/344
July 20, 2015
Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today:
“I can confirm that Greece today repaid the totality of its arrears to the IMF, equivalent to SDR 1.6 billion (about EUR 2.0 billion). Greece is therefore no longer in arrears to the IMF.
“As we have said, the Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth.”
MY LADIES: GREECE AND CHINA JUST WARM UPS FOR THE MAIN EVENT???? HUMMMM LET'S LOOK
Jim Paulsen: The Fed may cause 'full blown' correction
The debt crisis in Greece and the stock market meltdown in China have just been "warmup acts" to the main event for U.S. investors: the Fed.
That's according to closely followed market watcher Jim Paulsen.
The chief investment strategist at Wells Capital Management said Monday he expects central bank policymakers to hike interest rates in September for the first time since 2006.
MVL: Translation: "...you're mine now, rabbit..."
MY LADIES: RUN SCRAMBLE COVER...
Fed to adopt new capital surcharges for eight largest U.S. banks
WASHINGTON (Reuters) - The Federal Reserve will meet on Monday to adopt a new rule for the eight largest U.S. banks to hold more equity capital, amid fears on Wall Street that the measure may make it less profitable.
The rule was largely similar to when it was proposed in December, when the U.S. central bank said the banks would face a surcharge of between 1 percent and 4.5 percent of their assets.
MVL: Mary, is this similar? The sandbox is requiring higher reserves, if I am looking at this correctly. All Basil III, they claim, and they're not sweating over it.
Bandito Rox: (*) Greeks Get First Look At Their Future: Long Bank Lines And Punishing Taxes
Tyler Durden on 07/20/2015 10:39 -0400
PrincessDD: Bankruptcy of the planet accelerates – 24 Nations currently facing debt crisis
MVL: And the current German trade delegation was one of the first in line in Tehran...now, Germany going cashless...? http://www.armstrongeconomics.com/archives/35194
PrincessDD: Congress Must Ditch the Corker Bill and Treat the Iran Deal as Either a Treaty or Proposed Legislation to be Voted Up or Down
Read more at: http://www.nationalreview.com/corner/421349/congress-must-ditch-corker-bill-and-treat-iran-deal-either-treaty-or-proposed
So Obama is giving all the power to the United Nations on what happens with Iran
PrincessDD: Russia overtakes China as most attractive BRICS country for investment - Bloomberg http://www.rt.com/business/310248-bloomberg-russia-investment-brics/
JG: I have a question, please, Mary or Nova.................is the Greek deal over and done so that the IMF can move on to other issues?
MVL: The Greek people voted to get off their economic Titanic, but their ignorant government decided to pass on a seat in the lifeboat. When that boat which is lashed to the euro hits the iceberg of a sovereign debt collapse, the band won't be the only ones in the water screaming. Even Robert Ballard's grandson won't find the sunken hulk of what could have been, had Greece just went ashore when they had the chance….. I say no. It's just another beginning. The IMF exists to make money. They're not going away.
MY LADIES: JG, GREECE MADE A PAYMENT FOR THE AMOUNT THEY WERE IN ARREARS, THEY STILL OWE THE IMF AND WILL PROBABLY BE PUT BACK ON A PAYMEMT SCHEDULE FOR THE MONIES STILL OWED.
THE IMF KEEPS MANY BALLS IN THE AIR AT THE SAME TIME, SO EVEN WHILE WORKING WITH GREECE THEY HAVE SEVERAL OTHER PROJECTS GOING ON AT THE SAME TIME.,
Sager: So is it safe to put Greece on the back burner for "things to look at right now"? And focus on other economic areas? Of course we can still glimpse over it but perhaps not put as much emphasis on it as we have in the past little while
IQD NOVA: NOT ME I WILL STILL BE WATCHING GREECE CLOSELY.
Sager: Thank you. Will keep watching closely as well
JG: .just hope the PTB in the IMF can be putting their focus in other areas at this time....
MY LADIES: THIS CONFUSES ME AS DOES ALL THE HOOPLA..WE NEED TO PROCESS THINGS FROM EVERY ANGLE.
GREECE TOOK THE BAILOUT AND MADE A PAYMENT TO THE ECB AND THE IMF, I THINK RIGHT THERE WE CAN SAY THE BOO BOO IS NOT ALL BETTER!
WE STUDY THINGS AS ENTIRE EVENTS FROM BEGINNING TO BEYOND WHAT APPEARS TO BE THE END.
EACH EVENT AND I HATE USING THAT WORD BUT WILL FOR THESE PURPOSES, EACH EVENT HAS FURTHER CONSEQUENCES.
DID WE SEE THE OLD SYSTEM FAIL YEST???
DID WE SEE ANY CORRECTIONS TAKE PLACE??
DID WE SEE MORE PRESSURE ON THE EURO ZONE???
WELL THEN THIS EVENT IS NOT OVER IS IT???
SOMETIMES I FEEL LIKE FRIENDS IN THIS ROOM ARE TRYING TO ISOLATE INCIDENCES AND USE THEM AS A FLAMING ARROW STRAIGHT TO THE REPRICING OF THE DINAR.
YOU NEED TO STOP DOING THAT... I'M NOT SURE HOW FAST AN ENTIRE GLOBAL CORRECTION IS SUPPOSE TO TAKE BUT I DO KNOW IT IS UNDERWAY.
STOP CLINGING TO DATES AND EVENTS..STUDY WITH US AND LET'S WATCH WHAT IS HAPPENING EVERYWHERE PLEASE.
GREECE AND THE EUROZONE ARE FAR FROM DONE.
I HAVE MANY FOCAL POINTS I WATCH EACH DAY, IF I BROUGHT THEM ALL IN HERE NO ONE WOULD GET ANYTHING DONE.
NOVA AND I DID NOT COME OUT OF A BOX LIKE THIS. WE READ AND WE STUDY AND WE LOOK AT MARKETS AND WE APPLY THE GLOBE TO OUT SITUATIUONS IN THE HERE AND NOW.
WE DO NOT MIND SHARING AND DO IT FREELY BUT PLEASE STOP FINDING DIFFERENT WAYS TO ASK 'ARE WE THERE YET"
GO TO THE GOOGLE AND TYPE IN THINGS OF INTREST AND FOLLOW FROM THERE AND READ AND UNDERSTAND.
THANK YOU FOR UNDERSTANDING AND EXPANDING YOUR HORIZONS WITH US!
MEMPHIS This may help some to visualize the big picture of what is unfolding in the world. Much of the wrong thinking that I have come across in this investment stems from some very poor terminology that is actually just in error!
We have all heard terms such as global currency reset, global reset, etc etc etc but in reality what is playing out in the world, the cycle that is and will unfold in it's time is driven by a sovereign debt crisis.
The operative word here is of course "crisis". ALL that we see unfolding in Greece is simply man's efforts to avert, or avoid this cycle playing out to it's conclusion but make no mistake...
The cycle will complete and all these financial maneuvers going on are simply DELAYING the event.
I am not trying to sound preachy here but simply offering the perspective that needs to be used if we wish to properly see what's happening. You'll rarely hear me speak of a currency repricing event because as a student (in the most anal sense of the word) that is not what I follow or attempt to learn.
I am fully convinced that such events will manifest though, in the proper time and have simply conditioned myself not to give them much thought along the way.
Anyway, my opinion is that to the degree that we can stay elevated in our perspective we will also gain the side benefit of minimizing disappointments....
having stopped my sermon I would add that I have seen some rather insightful comments made in the last couple of days and so I would strongly encourage EVERYONE that regardless of your present position in understanding global macro affairs just take baby steps and do not get frustrated with any of this if you feel behind!
The volume of material out there to be absorbed is more than ANYONE could ever accomplish.
Sager: In the most simpistic terms, one only needs to follow who the players are, where money is, and where it is going. From this frame of mind, one can formulate a pretty solid foundation of how things work in terms of economic capital flows.
What I'm realizing is that if I keep observing where the money is, where it's coming from and where it's going, I'm going to get a pretty good idea of what the heck is going on. I'm just in the process of learning all this. I have much to learn.
Finding the proper resources to guide along the way is crucial. Examples of fantastic resources are right in this very room (ie Nova and ML), also people like Martin Armstrong, as well as direct sources like the BIS, IMF, etc. These people and entities are like a lighthouse, pointing to the truth of the matter
MY LADIES: MEMPHIS THANK YOU VERY WELL SAID.
THERE IS NO DOUBT IN MY MIND AT LEAST THAT THE DINAR WILL TRADE GLOBALLY. IN WHAT TIME IS THE ONLY QUESTION
BUT IN THE MEAN TIME THERE IS SOOOOO MUCH MORE WE NEED TO UNDERSTAND SO THAT WHEN WE ARE FACED WITH REAL LIFE SITUATIONS WE WILL HAVE SOME THING TO DRAW FROM.
THERE IS WORLD CHANGE TAKING PLACE ON EVERY PLAYING FIELD AND WE NEED TO UNDERSTAND HOW IT WILL EFFECT US AND MOVE FORWARD,
THANKS YOUR WORDING IS MORE IN DEPTH THAN MINE.
Memphis: ML quote: "...SO THAT WHEN WE ARE FACED WITH REAL LIFE SITUATIONS WE WILL HAVE SOME THING TO DRAW FROM..."
this is the key! So many will be scrambling to make a withdrawal from their bank of knowledge and will face regret over having never made the needed deposits along the way!
I had a moment of my own exactly 3yrs ago where I suddenly realized the pointlessness in expounding on every Iraqi press release. This journey is different for each of us but ML's quote here is worth writing down. (IMO). ...and it's not a function of knowing EVERYTHING guys.
Without even recognizing it you will be sitting down with a financial advisor someday (as Nova has no doubt advised on countless occasions) and you'll whip out an idea, or a thought, or a question about SOMETHING and you'll even wonder where that thought came from but in that moment you'll open a path towards something meaningful that you would have otherwise never known.