Amarok: Good morning fellow WingIts! World events propelling us towards this GCR are coalescing this weekend at the G20 mtg in China. IMO, if the final requirements of the Paris Agreement on Climate Change were signed on the 7/11, the date it's to be implemented is Sunday, 7/24. We heard last night on a call that we should be in the bank before that. Feeling optimistic!
Chief53: I'm believing for the motherload....high rates of exchange, this weekend....through out our corrupt corporate government & replace with constitutional government....and begin the work of helping right this world
ZJB: Amarok - cautious optimism here. Trying to keep my expectations in check
Amarok: zjb- I'm down with cautious optimism. We're looking thru the trees as the train races thru a strange forest, and we're trying to describe and understand the resort we keep getting glimpses of. Pretty soon we'll leave the trees and it'll all be clear (er). lol
UncleBig: hello everyone, are we expectant of an rv today? I know I am expecting good news today!
Piper19: UncleBig R U having a baby??
ZJB:: piper UB is having a baby... His name was going to be Harvey, but there has been a dropping of the H, he will go by the name of Arvey and that of course is RV for short
RicOShea: THE PROBLEM WITH INTEL PROVIDERS IS THEY DISAPPEAR BEHIND NDAs…. IS THAT A PROBLEM OR GREAT INTEL?
Izzie: Ric I sure don't see a problem when people sign an nda and can't say any more to me that's progress
RicOShea: THERE IS SOME SPECULATION AS TO WHO ARE THE GROUPS GOING AFTER THE SKR'S WENT LIQUID
I THINK ADMINBILL IS GREAT AT TAKING WHAT HE'S SEEN HAPPENING BASED ON HIS INTEL AND GUESSING WE HAVE AT MOST ANOTHER WEEK TO TEN DAYS AT MOST. PROBABLY SOONER IN HIS OPINION
THE LAST GREAT NEWS WAS HIS DC CONTACT FINALLY GOT BACK TO HIM AFTER TWO DAYS REGARDING HIS CURRENCY EACH WITH (NDA)
TurtleIsland1: Definition of Safe Keeping Receipt: the storage of assets or other items of value in a protected area
Safe Keeping Receipt's, or SKR's, are bank instruments that are on the rise as collateral for alternative financing. A SKR is a financial instrument that is issued by a safe keeping facility, bank or storage house. In storage, assets or other valuables are in a safe, secured and protected area. The issuer of the SKR takes the responsibility of being the legally responsible custodian. Check with your institution or safe keeping storage facility as some require fees for these services.
Examples of asset skr's that can be monetized:
• Fur SKR
• Collectible Art SKR
• Gold SKR
• Above Ground Assets SKR
• Commercial Property SKR
• Antiques SKR
• Valuable Documents SKR
• Precious Metals or Gems SKR
The issuer of the SKR is not the legal owner and therefore, must return the asset to the owner upon request. Who can obtain an SKR? Individuals, corporations, companies, organizations and trusts to name a few. The owner of an SKR may monetize this instrument much like an SBLC, LC, Bond or BG and use these funds as an alternative funding source for projects. Most issued SKR are capable of SWIFT transfers however, some may require an additional MT 760 simultaneous to the transfer of funds in the transaction.
Monetizing and SKR is the process of converting the financial instrument into a legal tender transaction. Depending upon the monetizing bank, certain additional conditions may apply. For instance, is the asset free and clear, meaning; is the title free and clear listed on the SKR? Aside from the validity of the SKR, free title is the single most important aspect of monetizing. The next important aspect is the capability of a SWIFT MT 760. Once monetized usually for a term of 1 year and 1 day unless otherwise agreed upon, the safe keeping receipt is then completed to the originating issuer.
With these very crucial points in place, monetizing your safe keeping receipt can be a safe transaction because in most circumstances, you don't move your asset or give up control. Any fees associated with monetizing your SKR should be paid out of proceeds and not upfront. For many reasons, you should never make arrangement to SWIFT or transfer your SKR to any one or company without first having a contract in place or knowing the company you are dealing with. Monetizing your SKR can be a solution to alternative conventional financing.
Depositary receipts are a common example of safekeeping certificates. These documents often represent ownership of securities issued and traded outside the United States. Depositary receipts can be bought and sold like stocks and can help investors diversify their holdings.
Other methods for investing internationally include purchasing U.S.-traded international stocks, purchasing stock in U.S.-based multinational corporations, and investing in international index funds and foreign country mutual funds through U.S. brokerages. When assets are placed with a broker, a safekeeping certificate is issued.
ADR, IDR, GDR
An American Depositary Receipt (abbreviated ADR) represents ownership in the shares of a non-U.S. company that trades in U.S. financial markets. The stock of many non-US companies trade on US stock exchanges through the use of ADRs. ADRs enable U.S. investors to buy shares in foreign companies without the hazards or inconveniences of cross-border & cross-currency transactions. ADRs carry prices in US dollars, pay dividends in US dollars, and can be traded like the shares of US-based companies.
Each ADR is issued by a U.S. depository bank and can represent a fraction of a share, a single share, or multiple shares of the foreign stock. An owner of an ADR has the right to obtain the foreign stock it represents, but US investors usually find it more convenient simply to own the ADR. The price of an ADR often tracks the price of the foreign stock in its home market, adjusted for the ratio of ADRs to foreign company shares. In the case of companies incorporated in the United Kingdom, creation of ADRs attracts a 1.5% stamp duty reserve tax (SDRT) charge by the UK government.
Depositary banks have various responsibilities to an ADR shareholder and to the non-US company the ADR represents. The first ADR was introduced by JPMorgan in 1927, for the British retailer Selfridges. There are currently four major commercial banks that provide depositary bank services - JPMorgan, Citibank, Deutsche Bank and the Bank of New York Mellon.
Individual shares of a foreign corporation represented by an ADR are called American Depositary Shares (ADS).
International Depository Receipt - IDR
An IDR is the non-U.S. equivalent of an American Depositary Receipt (ADR).
Global Depositary Receipt - GDR
1. A bank certificate issued in more than one country for shares in a foreign company. The shares are held by a foreign branch of an international bank. The shares trade as domestic shares, but are offered for sale globally through the various bank branches.
2. A financial instrument used by private markets to raise capital denominated in either U.S. dollars or euros.
Investopedia explains Global Depositary Receipt - GDR
1. A GDR is very similar to an American Depositary Receipt.
2. These instruments are called EDRs when private markets are attempting to obtain euro
Safe Keeping Receipt
Safe Keeping Receipt or SKR, or Safekeeping, is where an asset owner elects to place that asset in the care of an Agent, usually a Bank or a Financial Institution and receives an acknowledgement from the Bank as to their “Safekeeping” of that asset. The asset owner may elect to have such an acknowledgement sent to a third party. A fee may be required for these services.
Definition of Safe Keeping Receipt: the storage of assets or other items of value in a protected area.
Individuals may use self-directed methods of safekeeping or the services of a bank or brokerage firm. Financial institutions are custodians and are therefore legally responsible for the items in safekeeping.
The various assets that can be held in such arrangements range from share, stock or bond holdings to Real Estate Titles, Precious Metals among others. The owner of an SKR may monetize this instrument much like an SBLC, LC, Bond or BG and use these funds as an alternative funding source for projects. Our SKR’s are capable of SWIFT transfers.
Individuals who place an asset in safekeeping are also issued a safekeeping receipt. These receipts indicate that the asset of the individual does not become an asset of the institution and that the asset may be returned to the individual upon request. A fee may be required for these services.
CUSIP and ISIN numbers, can, in some instance, be positioned to SKRs. However the process is quite tricky and not all would qualify.
wmawhite Article: "Exchange rate and disinformation" Quote: "...repeated calls by some observers to call for the lifting of the dinar exchange rate against foreign currencies, to the extent that some of those claims up by making the value of the dinar equivalent to one dollar..."
Again...out of nowhere …calls for the true value of the IQD to be brought forth.
Harambe: Crude oil prices face weekly decline as glut fears persist
SassyD: IMF Chief Lagarde Loses Fight to Avoid Trial in Tapie Case -- IMF's Lagarde Loses Fight To Avoid French Trial Over Corruption Case -- July 22, 2016 -- http://www.bloomberg.com/news/articles/2016-07-22/imf-s-lagarde-loses-fight-to-avoid-french-trial-in-tapie-case-iqxpe6ak
PowerofPrayer: Good morning family,
Interesting article regarding Christine Lagarde
IMF chief Lagarde to stand trial in €400mn payout case - court.
IMF chief Christine Lagarde must stand trial for her role in a €400 million payout case while she was French finance minister back in 2008, France's highest appeals court has ruled.
Lagarde is accused of “negligence” which “resulted in a misuse of public funds by a third party,” the Cour de Cassation, one of France's courts of last resort, said in a statement on Friday.
The IMF board, in the meantime, said the organization is confident that Lagarde is able to carry out her duties effectively following the ruling.
News that the IMF chief may face a negligence trial in France had been circulating in the media for several years.
ReddStarr: Boarding officer arrested embezzled billions of dinars fictitious names!
The Interior Ministry announced the arrest of a leading lieutenant accused of falsifying lists unaffiliated with fictitious names in order to take advantage of the advance of 50 million dinars launched by the central bank.
The ministry said in a press release, "Inspector General of the Interior Ministry office in Baghdad Police Directorate arrested the officer rank of major in the Directorate withdrew a large amount of a State-owned banks by falsifying lists unaffiliated with fictitious names in order to take advantage of the advance of 50 million dinars, launched by the Bank Central. "
The ministry said, "has been the arrest after receiving information to the Office of the Inspector General reports by the Rasheed Bank claim the ministry to pay financial deductions from beneficiaries of the advance of the (50) million as a result of the failure of associate been attributed to the Directorate of the Baghdad police to pay the premiums discharged, and after checking the the names of the beneficiaries of the advances show that does not exist in the district. "
The ministry added, "and then follow-up and checking out the officer rank of major works in the Directorate accounts rigging complete transactions and fictitious names from the Baghdad Police Directorate and submit them to the bank and receive amounts fundamentalist, prompting the arrest of the officer who embezzled nearly 100 billion Iraqi dinars and fictitious names claiming affiliation to Baghdad police headquarters. "
He ordered the Inspector General of the Ministry of the formation of an investigative board right of the accused who has been arrest now by court order to investigate his case and expose those involved with the crimes