Martha: we are definitely in the moment
UKmtb: Would love to believe that Martha - do you have your own intel?
Martha: Wish I did but I feel very strongly that everything is done and now we wait. I have a back wall date but watch 8/8
The Chinese are very much into the numbers just like the IMF… remember things that should have happened did happen and we have been always 2 weeks off the mark….
Im looking at 8/8 as a completion of what is about to go forward. also used 8/7 for payroll
CJLamp: The funny thing every Gurus and just Tony said the laws and tariff would start on the 1st and the Bond would start selling on the 2nd. So I wonder what happened , it might have happened but it just isn't showing yet.
Martha: Im only using the 8th as a completion of what is about to happen.Things are finished and will start to reveal themselves so fast your head may spin
UKmtb: Wish someone would 'man up' and say ENOUGH let's get this show on the road....
Already Blessed: I ALWAYS TELL YOU THAT WHEN IN DOUBT...GO BACK TO WHAT YOU KNOW. WE KNOW THAT THE TARIFFS (20%) WENT IN EFFECT...ARTICLES HAVE ALSO PROVEN THAT...IT IS A FORCING FUNCTION.... .LET'S LOOK AT THE POSITIVE AND WHAT WE KNOW TO BE TRUE...
Timth21: Okay....so what now do we know is true? The Bonds? The Taxes? The Tariffs?
Peaches1: "For the first time in 30 years, today the IQD is listed on the bond market screens in many places around the world..." [No comments on this?]
Tbirdd: Peaches ----- that's HUge! (i just dont know where bond market screens are found... )
Peaches: 8-3-2015 wmawhite What is driving this is very difficult for even an economic major to understand. This is not a single faceted event. There are many layer to it. For the first time in 30 years, today the IQD is listed on the bond market screens in many places around the world... we have so many reason to be happy with what is happening. ...it is happening in front of us...we just need to be able to recognized the numerous indicators there are evidence of this event.
Peaches1: some hold that position that ANY RATE, as long as it is international is a big deal.
RKstx: Peaches!!! Great. International ;) rate does not matter.. Yet...delete 000 and drop the LD s at any moment!!
OK Rocks: The Central Bank Chief said in Kurdistan, Adham Karim, told reporters Tuesday that "Baghdad decided to send 166 billion dollars and 177 million as a share of the territory's fiscal budget for the month of June." The Kurdistan region, according to the statement.
"Republic in Charge" - Intel SITREP from Deep Source(s) for August 3
(Note: This is completely raw intel from Classified sources and may or may not come to fruition. User discernment is advised. ~ Dinar Chronicles)
SITREP (Situation Report) / 8-3-15 / 12:43 AM EST
Deep Source (RV/GCR):
"The new gold-backed Republic Treasury will be funded tomorrow with IQD holdings thus the revaluation must be accomplished."
Deep Source (Resistance):
"Reports are coming in once again that the Republic is now in charge of the United States and General Xxxxxx Xxxxxxx is the new interim President of the Republic. All USA corporate congress members and executive office people are now out of jobs and have nowhere to go. The arrests are scheduled to begin tomorrow and the announcements will be on MSM."
Note from Deep Source(s):
"Please note: Intel that is being provided from us to you is indeed accurate but completely raw and does have a tendency to not follow through. There is no denying that we are all in frustration and loss of patience. It is entirely a fact that intel being provided is real, but there are constant on-going activities that change the situation. This is agonizing but you mustn't lose hope. Nothing lasts forever."
wmawhite What is driving this is very difficult for even an economic major to understand. This is not a single faceted event. There are many layer to it.
For the first time in 30 years, today the IQD is listed on the bond market screens in many places around the world... we have so many reason to be happy with what is happening. ...it is happening in front of us...
We just need to be able to recognized the numerous indicators there are evidence of this event.
Walkingstick » August 3rd, 2015, 10:35 am
How the IMF and US were party to Greece's tragedy
Michael Ivanovitch |
After helping to maintain the integrity of the European monetary union, the U.S. and the I.M.F. seem to have finally realized the danger of leaving more than half of West's economies in a state of chaotic recession.
The huge waste and appalling mismanagement – displayed during the Greek debt negotiations – have also shown to the Washington pair that they were partly responsible for an intractable euro area crisis and a serious economic and political weakening of the Western alliance.
Now, in fairness to a de facto manager of the world economy (I.M.F.) and its principal shareholder (the U.S.), it is true that they did try to do the proverbial "something." But they did that without the determination necessary to get the Europeans back from the precipice.
Worrying in his re-election campaign about the one-fifth of U.S. exports going to Europe, President Obama called in vain a number of times on the German chancellor to withdraw her devastating austerity diktat to the sinking euro area economies. Repeated appeals of the American president were not only turned down; they were also publicly ridiculed. The German leader bristled that "adding more debt to an already large debt" made no sense.
As a result, the euro area was left to bleed as the German chancellor ordered that "those who violated the budget rules (French, Italians, Portuguese and Greeks), and those who failed to supervise their banks (the Spanish), had to be taught a lesson." Predictably, deepening recessions and rising unemployment swept away from power the incumbents in France, Italy, Spain, Portugal and Greece.
Growth, growth, growth
Much after the damage was done, the I.M.F. eventually denounced the obvious: Austerity measures imposed by Germany under conditions of euro area's declining demand, output and employment were wrong. Growth was better, they said.
And then, after months of bruising scuffles with the Greeks, the I.M.F. recognized another fairly obvious issue: Greece needed debt restructuring to give some oxygen to its asphyxiated economy. That was another grotesque reversal, because the request for debt restructuring was consistently denied to the Greek government since last January.
Luckily, Washington sprang back into action as it became clear that Germany was pushing Greece out of the monetary union – a calamity that would have caused unpredictable political and security issues for the Atlantic community.
The danger now is that the U.S. will drop the ball, as it gets distracted by the unfolding election campaign, new and old Middle East crises and China's rising challenges in East Asia.
That would be a great pity and an unforgivable mistake because Germany won't give up.
Smarting from having been blocked by the U.S. in its attempt to get rid of Greece, Germany is now picking a fight with the E.U. Commission because it helped to keep Athens in the monetary union. By accusing Brussels of "overstepping its administrative, record-keeping duties," it looks like Berlin is getting back at the Commission's President Jean-Claude Juncker, who dared to call Germany out for "playing its domestic politics on the back of the euro." German media are also reporting that Berlin is now writing the rules which would make it easy to throw the countries out of the monetary union if they failed to dance to Teutonic tunes.
Debout la France (Stand up, France)
Who will put up a fight against this? Mired in its own continuing unpopularity and rising unemployment, the French government will probably do nothing. Its grandiose euro area plans announced for next fall won't even cross the Rhine. Sadly, Paris remains Europe's second fiddle, as it has ever since the feisty Jacques Chirac left the presidency in 2007. And it is a sign of times that an "authentic Gaullist party," Debout la France, has only two seats in the French parliament.
It is, therefore, quite likely that a latent euro crisis will continue as Germany pushes aside French "solidarity" initiatives by insisting on existing commitments -- that France cannot meet -- for sharply falling deficits toward a budget balance by 2017.
Here are some numbers to show that such an unreasonable rush to fiscal consolidation would be economically and politically destabilizing.
The euro area's gross public debt in the first quarter of this year came in at 92.9 percent of GDP (or 9.4 trillion euros) – an entire percentage point above the previous quarter and 32.9 percent above the monetary union's treaty rule set at 60 percent of GDP.
How can the euro area get all this red ink down? Barring a sustained and politically unacceptable inflationary outburst, the only orderly way of doing that is through rising tax revenues in a growing economy and a tight cap on public spending. That should generate steadily rising primary budget surpluses (i.e., surpluses before interest charges on public debt) that would, over time, stop and reverse the growth of public debt.
And here is how difficult that is. The euro area debt shot up from its most recent low of 77.5 percent of GDP (in 2008), despite the primary budget's shift from a deficit of 2.7 percent of GDP to a 1 percent surplus last year.
Or take the case of Italy. The public debt in the first quarter of this year soared to 135.1 percent of GDP (or 2.2 trillion euros) from 132.1 percent in the previous quarter – even though the primary budget surplus was kept between 4 and 5 percent of GDP in the last three years.
And here is the fallout: Over that period, Italy's GDP went down at an average annual rate of 1.7 percent, the unemployment rose from 10.6 percent to 13 percent, and the output gap (economy's deviation from its productive potential) now stands at more than 6 percent – second only to Greece.
All this shows that only a resumption of the euro area economic growth and sustained primary budget surpluses will lead to a decline of public debt. Like most things in a responsible statecraft, that will require a patient and disciplined work, enforced through political cooperation – not a self-righteous bullying – at the highest levels of the treaty-bound sovereign nation states.
The European Central Bank (E.C.B.) knows that its easy credit stance has to offset tight budget policies as the euro area continues its long and difficult process of fiscal consolidation.
Institutional changes toward euro area's unified fiscal and debt management policies seem unlikely. That would require major sovereignty transfers, with treaty and constitutional changes, that neither France nor Germany seem ready to implement in the run-up to their general elections in 2017. The shape of the monetary union – and whether it will exist at all – will depend on political forces taking the helm in Paris and Berlin in the spring and fall, respectively, two years from now.
Backed up by the U.S., the I.M.F. efforts toward Greece's debt restructuring will probably make some headway, because the multilateral lender has enough leverage to overcome the German opposition. That would give space to Athens for growth, structural reforms and political stability.
Your investment strategy can count on the E.C.B. to literally do "whatever it takes" for the euro area's incipient economic recovery.
Michael Ivanovitch is president of MSI Global, a New York-based economic research company. He also served as a senior economist at the OECD in Paris, international economist at the Federal Reserve Bank of New York and taught economics at Columbia.