Thanks My Ladies for letting us share from your private chatroom
PrincessDD: $100bn BRICS monetary fund now operational
MY LADIES: VERY VERY VERY GOOD.... (party)
IQD NOVA: WOW, YES IT IS!!!!
MY LADIES: NOVA G20 TALK...WERE QUITE INTWERESTING TODAY..MAIN TOPICS INCLUDING CURRENCY AND CURRENCY SWAPS AND IMF TALK...
TIMING IS REMARKABLE...ECB'S THINKING MAYBE THE EURO IS NOT SUCH A GOOD IDEA ANYMORE TOO...LOL...LOL...
NEXT WEEK WILL BE A TIME TO WATCH...NO MORE DEVALUATIONS...
IQD NOVA: NEXT WEEK IS GOING TO BE INTERESTING TO SAY THE LEAST!!!!
MY LADIES: G20 SUPPORTS BRICS... WE ARE IN THE NEW SYSTEM.. AND IF THE REFORMS GET DONE SOON THERE WILL BE NO STOPPING THE TRAIN..
IQD NOVA: AGREED!
Sager: September 4, 2015 China and Russia seal raft of energy deals
China and Russia signed nearly 30 cooperation documents including a series of energy deals on Thursday during Russian President Vladimir Putin's stay in Beijing to attend China's V-Day celebrations.
The signings were witnessed by President Xi Jinping and his Russian counterpart.
Xi also met with United Nations Secretary-General Ban Ki-moon on Thursday and reaffirmed China's commitment to peace.
Among the deals, Russia's second-biggest gas producer Novatek signed a framework agreement for China's Silk Road Fund to obtain a 9.9 percent stake in its Yamal liquefied natural gas project, the company said in a statement.
The deal was first discussed in August and is worth an estimated $1.4 billion.
The Yamal project is the Silk Road Fund's first investment in Russia. Novatek holds 60 percent of the shares, while French company TOTAL and China National Petroleum Corp each hold 20 percent. They have invested more than $10 billion in total.
Princess DD: G-20 Countries Vow to Refrain From Currency Depreciation
World’s biggest economies agree to resist temptation to weaken currency for trading advantage, U.S. Treasury official says
Princess DD: U.S. Treasury Secretary Lew Presses China on Yuan Policy
American urges Beijing to signal it will allow yuan to rise if market drives up currency’s value http://www.wsj.com/articles/u-s-treasury-secretary-lew-presses-china-on-yuan-policy-1441393198
Princess DD: Hey check this one out!
G20 binds China to currency peace pact http://www.bangkokpost.com/business/world/681900/g20-binds-china-to-currency-peace-pact
Princess DD: Goodbye Dollar, Hello Altyn? In Ex-Soviet Union, Possible Future Currency Has Rich Past http://www.rferl.org/content/goodbye-dollar-hello-altyn-future-eurasian-currency/27228511.html
Mvl: Another sign these countries are possibly reverting to local currencies, stimulating local debt. Much better for them.
Princess DD: Global safety nets to check currency, market volatility needed: FM http://timesofindia.indiatimes.com/business/india-business/Global-safety-nets-to-check-currency-market-volatility-needed-FM/articleshow/48838244.cms
Princess DD: G20 vows to boost fragile growth, nudges China on currency
G20 finance ministers and central bank chiefs on Saturday (Sep 5) pledged to act decisively to shore up stuttering global growth and to refrain from unsettling currency moves after China's controversial devaluation last month. http://www.channelnewsasia.com/news/business/g20-vows-to-boost-fragile/2104540.html
Sager: The Japan Bank for International Cooperation senior managing director has said that the establishment is turning to Ruble-Yen swaps, as using the US dollar in transactions is difficult because of the Western anti-Russia sanctions.
MVL: : Currency-swap talk at the G20...
MVL: : http://www.nasdaq.com/article/g20-countries-vow-to-refrain-from-currency-depreciation-20150905-00006
MVL: : China swap deal... http://m.chinadaily.com.cn/en/2015-09/05/content_21791118.htm
Princess DD: IMF's Lagarde says Fed should not rush its rate rise decision
The U.S. Federal Reserve should not rush its decision to raise interest rates and should move only when it is sure the decision is unlikely to be reversed later, the head of the International Monetary Fund, Christine Lagarde, said on Saturday. http://www.channelnewsasia.com/news/business/imf-s-lagarde-says-fed-sh/2105070.html
Princess DD: G20: US asks China to fast-track reforms, no currency devaluation http://www.dnaindia.com/money/report-g20-us-asks-china-to-fast-track-reforms-no-currency-devaluation-2122142
Princess DD: U.S. Treasury official: G20 sees need to 'double down' against devaluation http://www.reuters.com/article/2015/09/05/us-g20-turkey-usa-idUSKCN0R50AA20150905
Princess DD: G-20 to promise clear messages on rates moves https://www.cnbc.com/2015/09/05/g-20-promises-clear-messages-on-rates-says-fed-hike-no-growth-risk.html
PrincessDD: IMF Chief Christine Lagarde Calls for Urgent Economic Overhauls Amid Slowdown
Fund head says concerted policy effort is needed as the global growth outlook sours http://www.wsj.com/articles/imf-chief-christine-lagarde-calls-for-urgent-economic-overhauls-amid-slowdown-1441470024
Sager: Looks like we will see some big movements shortly
Princess DD: I think so too Sager. Something is apparently going on
Princess DD: Yuan devaluation: G-20 seeks to contain tension as Zhou says bubble has burst
The deepening slowdown in China is dominating discussion among ministers and central bankers meeting Friday and Saturday in Ankara
PM] Princess DD: Chinese economy: A necessary transition http://www.turkishweekly.net/2015/09/05/op-ed/chinese-economy-a-necessary-transition/
Princess DD: So we have the IMF and UST and the G-20 all massaging Chinas currency. They are all trying to rush through some economic reforms. They are trying to stop any more currency devaluations. No interest rate increases. They are all doing something that will impact global economy it looks like.
Princess DD: Should Hong Kong Peg Its Currency With The RMB? https://www.chinamoneynetwork.com/2015/09/02/should-hong-kong-peg-its-currency-with-the-rmb
Princess DD: G20 supports China’s efforts to stabilise economy
Princess DD: Hong Kong dollar a natural hedge http://www.thestar.com.my/Business/Business-News/2015/09/05/Hong-Kong-dollar-a-natural-hedge/?
Princess DD: Turkey looks forward to China's 'New Silk Road' project
China, the world’s second biggest economy, will be behind the wheel of G20 in less than four months, a senior Turkish official says
ANKARA – Turkey is looking forward to China’s New Silk Road project that will be discussed further when China takes over the G20 presidency in less than four months, a senior Turkish official said Saturday.
Princess DD: Silk Road Fund purchases shares from Russian company http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20150904000143&cid=1102
PrincessDD: Weidmann open to talks on including China in IMF currency basket
"I am open in the discussion about taking the yuan into the IMF currency basket," he told Reuters ahead of a meeting of the Group of 20 industrial and emerging economies in Ankara, though he added that China must fulfill the conditions for inclusion.
On Thursday, IMF deputy spokesman William Murray said the fund was on track to complete a review of its SDR basket by the end of the year. Beijing has pushed hard for the yuan to be included.
China tightens Forex trading rules in attempt to support the Yuan http://www.lidtime.com/china-tightens-forex-trading-rules-in-attempt-to-support-the-yuan-9456/
Princess DD: Iran boasts $518b banking asset, highest in Islamic world
Tehran Times Economic Desk
TEHRAN – Iran’s banking asset amounts to $518 billion, making the country the biggest asset holder in Islamic banks, said Mehdi Razavi, the chairman of Iran Banking Institute. http://www.tehrantimes.com/index_View.asp?code=249097
Princess DD: Iran has had a 20% yearly growth on the money that was frozen
Princess DD: Greek leftist leader calls for return of drachma
Princess DD: France says debt issuance would be first step for a euro zone budget http://www.reuters.com/article/2015/09/05/us-eurozone-budget-macron-idUSKCN0R50GZ20150905
MVL: Precisely what should have been done when the Euro was created: get everyone's liabilities together, an option that Martin Armstrong addresses better than I ever could.
That said, reality is they joined hands with a common currency, left each country's debt separate, and now they're wondering why the engine has stopped.
The EU will not be able to save itself under the current arrangement, no matter how much cash Brussels throws at it. QE after QE, its fiscal insanity.
The new economic paradigm emerging across the globe will pressure them to consider a revert to their original currencies, and offer local debt for sale.
Either they forgive a portion of or restructure the current EU debt, or the EU assumes room temperature by their own hand.
Germany is screaming foul about assuming the PIIGS love of spending, and their overhead, but they also forget the world forgave Germany huge amounts of their own liabilities in the early 1950's.
These cats either suck it up now, and work together to patch the EU's version of the Titanic's hull torn open by running into an iceberg of collective debt, or they lose it all, and go down with the band, stripped of instruments because nobody could afford them.
Princess DD: The IMF Just Confirmed The Nightmare Scenario For Central Banks Is Now In Play
SAGER -: Based on this article that has been posted recently:
Iraq Displays Sovereign Bonds For Sale
2/9/2015 0:00 BAGHDAD - Alaa al-Tai Scheduled to travel a senior government delegation, including ministers, officials and experts in the financial and economic affairs, next week, to the United States and Britain to discuss the issue of Iraq sovereign bonds, and to explain the ability of the country to fulfill its obligations to investors who Septaon those bonds and Atdaolunha in markets Alaalmih.
SAGER: This paragraph interests me:
“…a government delegation will travel next Monday, accompanied by a credit rating talks team, to the United States and the UK to clarify Iraq's ability to fulfill its obligations to investors who Septaon Sindh Iraqi and international promotion”
It interests me because a credit rating talks team will be there. If you recall, Fitch and S&P have given Iraq a credit rating. Now Moody’s is the only one left, which interestingly enough, is a bonds credit rating agency. I can’t say this as fact, but I feel pretty good that Moody’s is the “credit rating team” that will be there for these meetings next Monday, and I also feel we should see the final rating shortly after that, possibly even as early as this next week. Just my 2 dinars
AW: Something else, SAGER............How many other countries that travel to NY or London to confer with writers of bond/underwriters carry with them credit rating teams?
I too find that interesting. And why not?
JP: That is significant
PrincessDD: That would be interesting. In all of the articles I posted about the G20, it kind of all blends well together since they are making decisions about the currencies.
AW: Even some of these latest articles out of the west/Europe speak of Iraq as entering the world financial markets for the first time since....................2006.
PrincessDD; Once they have the credit rating they can sell the bonds and i guess the credit rating will have a huge bearing on the bond rate.
AW: So here we are looking for Iraq in re-enter the world financial markets and the western media is describing this as that.
AW: they already have two ratings from Fitch and Standard & Poors
PrincessDD: Right but need the Moodys?
MY LADIES: THANKS PRINCESS..GOOD JOB...
SAGER YOU'RE REACHING...BUT HAVE IT..HOWEVER WITH DEUTSCHE HAVING A MAIN HUB IN LONDON I DON'T FIND IT REMARKABLE. AND LET'S REMEMBER AS I'VE SAID THESE ARE GOING TO BE EURO BONDS NO NEED TO HAVE A RATE CHANGE PRIOR.
THERE ARE DOZENS OF OTHER THINGS TO WATCH BUT THESE BONDS ARE NOT ONE OF THEM.
PRINCESS IT'S ONLY A HOLIDAY HERE. LABOR DAY DOES NOT REACH ACROSS THE GLOBE SO NO ONE IS SNEAKING ANYTHING IN ON A HOLIDAY WEEKEND. IN TURKEY IT'S BUSINESS AS USUAL.
JP ...EASY ...EASY... THERE IS NOTHING SIGNIFICANT ABOUT A DELEGATION OR CREDIT REPORTING AGENCIES BEING PRESENT THEY ARE NOT ORIGINATING IN IRAQ FOR HEAVENS SAKE AND VERY COMMON FOR CREDIT REPS TO BE PRESENT THEY ARE PART OF THE PROCESS FOR DETERMINING THE INTREST.
AND I AM A MEMBER OF MOODYS AND HAVE BEEN WATCHING BUT SO FAR HAVE SEEN NOTHING ON IRAQ GETTING A RATING AND NO MENTION OF THEM TRAVELING TO LONDON OR ANYWHERE ELSE...
SO LET'S ALL SIMMER DOWN AND NOT SET OURSELVES UP FOR A LET DOWN.
SAGER NEXT WEEK WORKS FOR ME HOWEVER I WILL RAISE MY EXPECTATIONS.
PRINCESS HAPPY BIRTHDAY AND THANK YOU FOR THE GREAT JOB YOU DO.