Iko Ward : Dong moved 1108 points last night
Iko Ward: Dinar dropped to 1077 for 10 minutes then reset to 1166. Dong dropped 1108 points last night before resetting. Rumor is TRN's are now live world wide. EURO market continues to slide. Lots of smaller trades now going on for gold.
BSquared: I hate the word "rumor".
Iko Ward: Fine...Bruce and Art say it's done. I have not heard on my end yet. So klets say its 66.66666% fact and 33.33333% rumor.
Cloudwalker: Between "rumor," "done, done, done," "imminent," and "soon," we're all going to be pretty touchy about certain words in the dictionary from now on.
Iko Ward: My pet peeve is "HUGE"…. Lets start a new trend. Now. This Minute. Done.
Mioze: Iko... now you typing!
BadScott54: We are standing on the brink of the most awesome blessing in history and we won't give a second thought to any of those words as a matter we may have a smile when we hear them as a remembrance of when
RXsales: We just need Oz to push the bottom.. Until then I feel we only can gather about 70% Facts / 30% Rumor.. Those are still pretty positive odds, just not enough to bank on yet.. It's time to get it done, we're all more than ready and prepared .. Let's go today!!!!
IkoWard: I am being told that in order to be asset backed, no matter who is saying it, Gold has to be at it's new price of 450-600 per ounce, so we're a little ways off from that. They may want us to be asset backed, but it will take time.
BadScott54: Bruce on his call last night spoke on the TRN he said they had attempted to release them the other and they went live everywhere but Bangkok or Beijing and that glitch has been fixed and they are prepared to go worldwide now from what I understood him to say
GFHonor: Iko does it not mean if the TRN's are out that would be mean asset backed ???
Iko Ward: GJH...that is one of the theories but I'm being told it's not like flipping a switch. As we have all seen none of this happens overnight. But the TRN's going live worldwide is a big step not only for asset backed reasons but also RV.
Rene5555: Good Morning IKO!!! Any verification that IQD is floating?? Is this true and if so that would mean an RI in Iraq??
Iko Ward: rene...I don't have any direct contacts in Iraq. Tony and Ray are the most informed on internal Iraq stuff IMO. But what I can say is the rest of the planet appears to be acting as if that is so. The big financial players are acting like the RV is live, but they are waiting for the rates to climb just like us.
BadScott54: IKO didn't the IMF make changes to their rule on what is considered to be an asset for the value of a countries currency. I remember reading that they are now allowing other natural resources of a country to be asset for the value of it's currency. Everyone is just use to gold being the main stepl
Iko Ward: Yeah, even brain power (education level) is figured into the mix. So it's not just gold and oil and minerals.
Iko Ward: The simplest statement is now that China is in the SDR Reserve basket everything has to move forward or the world economy will be in turmoil. Even the bad guys don't want that.
BadScott54: IKO I felt Bruce was delighted about the TRN are now going live worldwide. I believe it is DONE
BadScott54: rene5555 I have read POPPY3 and a couple of the other gurus be pretty adamant about the dinar going to float. They said a float would not in any way be advantageous for their economy… i'm sorry that the dinar is not going to float IMO
Rene5555: Badscott54: I heard that too but I also thought this may happen for a very short time and then stabilize
Tbucknor: Frank26 says: Article 8 applied, RI first, float to match one dollar, then RV.
BadScott54: It is my understanding it will probably do as Kuwait did come out at the rate it was before it was devalued, float up high and float down to what the international rate will be stable at
Oldmanriver: Doesn't an RI bring it back to $3.22?
Tbucknor: No, RI means it is international again, rate notwithstanding.
Snoopy: Per intl agreement with kuwait....dinar has to come out equal to kuwait plus 20% for inflation.....
Tbucknor: True, snoopy, but it isn't 'out' yet.
Snoopy: kuwait 3.28 plus 20 percent 3.93 around the magic 4.00 range....I can live with that...
Shane: IKO we've heard in the past that with the US government holding 4 trillion Plus with the American citizens old will be put in the treasury and used to back in the US dollar that's why we were being asked to put in separate accounts what's your feeling on this
Iko Ward: Shane, I just don't trust those statements anymore. I do believe as we go toward an asset backed currency we will see all kinds of funds "magically" appear. There are folks out there that truly believe we have no gold, just gold plated tungsten bars.
Turkeyhntr: Iko, my only concern is that no one has even seen inside the Ft. Knox bldg since the early 70's. who knows!
BadScott54: IKO I believe within all my being that these rates are going to be more than we could ever imagine and me and my house are prepared to be blessed!!!
EXOGEN: Markets | Thu Dec 3, 2015 10:06pm EST
Related: CURRENCIES, MARKETS
China yuan's entry into SDR basket is starting point for financial reforms-PBOC
Dec 4 A Chinese central bank official said on Friday the inclusion of the yuan into the Special Drawing Rights (SDR) would be a starting point for China's financial reforms.
Xing Yujing, director general of the No.2 monetary policy department of the People's Bank of China, told a news conference that yuan's admission into the SDR basket would help improve price discoverability for the currency.
Xing said China would continue to steadily push forward yuan convertibility under the capital account.
The International Monetary Fund admitted China's yuan into its benchmark currency basket on Monday, a victory for Beijing's campaign for recognition as a global economic power. (Reporting By Kevin Yao; Editing by Sam Holmes)
Read more at Reuters http://www.reuters.com/article/2015/12/04/china-economy-yuan-idUSB9N13M03C20151204#UK6IgACdLWAMBfXE.99
firefly The rate change in the CBI is HUGE...the program rate is gone...they are no longer on the program rate, meaning the CBI cannot hide figures any longer!
The 1st step to the reform has begun IMO...Dec will be VERY exciting !
CSHessman: U.S. stocks suffer biggest selloff in more than 2 months
Published: Dec 3, 2015 4:39 p.m. ET Reuters
European markets were rattled by the ECB stimulus expansion, which fell short of expectations.
By ELLIE ISMAILIDOU MARKETS REPORTER
BARBARA KOLLMEYER MARKETS REPORTER
U.S. stocks sold off on Thursday, pushing both the Dow industrials and the S&P 500 further into negative territory for the year, after the European Central Bank unveiled a smaller-than-expected expansion of its monetary stimulus program.
The drop came amid a sharp surge in the euro and a selloff in government bonds and European stocks, while Federal Reserve chief Janet Yellen once again signaled a U.S. interest-rate hike in mid-December.
The S&P 500 SPX, -1.44% fell 29.88 points, or 1.4%, to 2,049.63, its biggest decline since Sept. 28. The benchmark index turned negative for the year. The Dow Jones Industrial Average DJIA, -1.42% dropped 251.74 points, or 1.4%, to 17,477.67, further into negative territory for the year. The Nasdaq Composite COMP, -1.67% ended the session down 85.70 points, or 1.7%, to 5,037.53
Analysts described Thursday’s stock rout as a violent unwind of a crowded trade. See also: Beware the crowded central bank trade.
Investors had piled into the short euro/long European stocks trade, and quickly reversed the trade after the ECB’s announcement fell short of the market’s expectations, analysts said.
The details of more QE “are not the big bang that some had thought and/or hoped for,” said Peter Boockvar, chief market analyst at The Lindsey Group.
The ECB’s announcement prompted heavy short covering in the euro EURUSD, -0.1188% which jumped more than 3% versus the U.S. dollar, posting its largest one-day move since 2009.
But as investors sold the U.S. dollar, they also sold liquid dollar-denominated assets, mainly U.S. Treasurys and liquid U.S. equities, said Douglas Coté, chief market strategist at Voya Investment Management, pushing Treasury yields to fresh 5½-year highs and stocks deep into negative territory.
Even though oil CLF6, +0.56% was up 2.9% to $41.08 a barrel, several of the worst-performing stocks belonged to oil companies, including Chesapeake Energy Corp. CHK, -11.78% which closed down 12%, PVH Corp. PVH, -11.09% down 11%, and Southwestern Energy Co. SWN, -7.46% , down 7.6%. OPEC will meet Friday, and many investors expect the cartel will finally cut output, which could lift oil prices and put a floor under oil stocks.
Meanwhile, health care was the worst performer on the S&P, closing down 2.2%, mainly due to end-of-year profit-taking from one of the year’s best performing sectors, to make up for losses in bad performers, mainly energy and utilities, said Kim Forrest, senior portfolio manager at Fort Pitt Capital.
Earlier Thursday, in her testimony to Congress, Fed chief Yellen largely reiterated comments she made on Wednesday, which laid out the groundwork for a rate increase at the U.S. central bank’s Dec. 15-16 meeting.
Yellen said she’s looking for a continued solid trend of job creation in November’s employment report, to be released on Friday morning at 8:30 a.m. Eastern. “But we can’t overweight any one number,” she said.
The theme of monetary-policy divergence is expected to dominate trading in the near future, said Ninh Chung, head of investment strategy for Silicon Valley Bank. But the notion that the Fed is confident enough in the U.S. economy to raise rates could eventually help push stocks higher, according to Chung.
Mixed U.S. data: Weekly jobless claims rose but held near 15-year lows, while the Institute of Supply Management’s nonmanufacturing index posted in November its largest one-month decline since November 2008.
Meanwhile, factory orders climbed in October but missed economists’ expectations.
Stocks to watch: Shares of Avago Technologies Ltd. AVGO, +9.51% closed up 9.5% after the company posted a stronger-than-expected profit after the closing bell on Wednesday.
Dollar General DG, +4.24% shares rose 4.2% after the company topped profit views, but reported a sales miss.
Amazon.com Inc.’s AMZN, -1.44% stock AMZN, -1.44% reversed earlier gains, falling 1.4% after the online retail giant said its Fire tablet is now available in China.
Yahoo Inc. YHOO, -3.67% fell 3.7%, as several potential suitors have emerged for its core Internet business. Verizon Communications Inc. VZ, -0.80% and Barry Diller’s IAC/InterActive Corp. IACI, -2.90% are among the companies interested, reported The Wall Street Journal, citing people familiar with the matter.
Oil on the rebound: In other markets, U.S. crude CLF6, +0.56% recaptured the $40-a-barrel mark, pushing higher as investors sought bargains in the wake of Wednesday’s fallout and as leaders from the Organization of the Petroleum Exporting Countries begin to gather. Gold prices GCG6, +0.09% rose modestly. Read: Barclays slashes oil forecast ahead of OPEC meeting
Asian markets saw a mixed day. The Shanghai Composite Index SHCOMP, -1.24% gained on hopes for stimulus measures after data showed a slower pace of growth for China’s services sector. The Nikkei 225 index NIK, -1.92% finished flat.
http://www.marketwatch.com/story/wall-s ... 2015-12-03
Aggiedad77: Good Morning Frank....I got this message sent to me in an email, but since it talks of the Lone Ranger and I know you've mentioned him several times, I figured you should see this......where are those little smiley guys that say "ROFL" "ROFL"
The Lone Ranger and Tonto stopped in the desert for the night. After they got their tent all set up, both men fell sound asleep.
Some hours later, Tonto wakes the Lone Ranger and says, "Kemo Sabe, look towards sky, what you see?"
The Lone Ranger replies, "I see millions of stars."
"What that tell you?" asked Tonto.
The Lone Ranger ponders for a minute then says, "Astronomically speaking, it tells me there are millions of galaxies and potentially billions of planets.
Astrologically, it tells me that Saturn is in Leo. Time wise, it appears to be approximately a quarter past three in the morning.
Theologically, it's evident the Lord is all-powerful and we are small and insignificant. Meteorologically, it seems we will have a beautiful day tomorrow.
What's it tell you, Tonto?"
Tonto is silent for a moment, then says, "Kemo Sabe, you dumber than buffalo pies. It means someone stole tent."
We know our sky is full of stars.....bountiful stars....and we are thankful.