[misskitty05] The NC/ND MarkZ mentioned could refer to a Non-compete/Nondisclosure agreement. The 2 often go together although I'm not sure how a non compete agreement fits in here
[misskitty05] Does anyone have any other idea as to what the NC refers to?
BigDog-OH] misskitty05 Maybe non-compliance?
[trdmny] NC means NON CIRCUMVENT...in other words you will not go around someone on your own
[spirit156] BigDog-OH Several people last night asked about the dollar refunding that MarkZ mentioned.
[spirit156] BigDog I found where he explained it better in a 5/3/14 chat
[misskitty05] spirit156 what is it
[spirit156] [catz] Markz what is the US Dollar Refunding Project? Thanks [MarkZ] catz We operate on a fiat currency now which has no real value other than percieved. The dollar refunding project is where real asset based money and hard assets(ie gold, oil, silver etc.) will be used to 'fund' the UST to once
[misskitty05] spirit156 so it's the switch to asset based currency?
[spirit156] misskitty that's what it sounds like. He uses the term refunding.
Markz from 5/3/14”
[MarkZ] moneyman2 If I were the person pulling the trigger I would pull it on a Friday afternoon.
[catz] Markz what is the US Dollar Refunding Project? Thanks
[MarkZ] catz We operate on a fiat currency now which has no real value other than percieved. The dollar refunding project is where real asset based money and hard assets(ie gold, oil, silver etc.) will be used to 'fund' the UST to once again be in charge of our US asset backed dollar. Right now the UST is flat broke. Mr Cxxxxxxx is the person that refunds/funds the UST or as we call it. He will 'reset' the US dollar.
[catz] Thanks so much
[MarkZ] catz The FED which is a private company had a license or contract if you will to manage our 'currency' they did it with little or no oversight and raped and pillaged us.
[xyz] Oil Minister: Oil revenues to be distributed among all Iraqis equally …The Minister of Oil, Adil Abdul Mahdi, said that Iraq's oil revenues will be distributed among all Iraqis without discrimination according to the constitution. http://www.alliraqnews.com/en/index.php/political-news/60714
[xyz] BRICS say failure to enact IMF reforms damages institution’s legitimacy - BRICS countries’ leaders are disappointed by the US block on IMF reforms to help developing countries have more influence internationally. They called for the G20 to ratchet up pressure if America doesn’t ratify the 2010 IMF reform by the end of the year. http://rt.com/business/205791-brics-concern-imf-reform/
Topic: Anxiety does not empty tomorrow of its sorrows, but only empties today of its strength. Charles Spurgeon
Hoodie : many don't know what the RV really is-- the dinar and dong are a small part of the RV--The real RV is when China in Singapore RV the gold from 1100 to 3 to 5000
gatorguy : most everyone knows me in here. . for what it's worth, I did get a call from my wealth manager yesterday after banking hours. . he would not get into details but he said to have all my affairs in order for Sunday. he has dinar and has become a friend. I'm not spreading hopium... but I'm cautiously optimistic as he has never called me and repeatedly said "I can't get into details. . just be prepared
Blessed1 : Gator guy!!!!! You are telling the truth!! Mine from U S Trust called me. Said, since im waiting ...soon. told him not to call me until its public!! if you have a WM, you will get the contact rates if you desire. they will know first. He knows my holdings and wanted to trade them on the currency trading desk! Nooooooooooooope!!!!
Luvwolfs: DC SAID INT'L FOLKS WOULD REALLY LIKE IT TO POP WHEN ALL BANKS ARE CLOSED. HE SAID THE WEEKEND PLAN STARTS WHEN ALL BANKS ARE CLOSED
AndyCK : Bank Story to share: I have a good friend in higher up Banking system..( Mom & Pop Bank ) his bank does not buy or sell any foreign Currencies, He stated to me he is very well aware of this going down soon, and he further stated TO ME that he is not allowed to participate in this in any way and he will cry when this goes down, knowing he was not allowed, because of his position...
Poppy3 : HCL, AND I AM HEARING ARTICLE 140 BOTH PASSED BUT AS OF TODAY [FRIDAY] NOT PUBLISHED BUT ARE SUPPOSED TO BE PUBLISHED TOMORROW IS WHAT HAS BEEN SAID. I SURE HOPE SO.
wmawhite this...says it all...and they are the ones saying this: THAT CBI HAS THE RESERVES TO SUPPORT THE JOINING OF THE INTERNATIONAL CURRENCY MARKET AND TO REVALUE THE DINAR TO THE USD AND RAISE THE PURCHASING POWER FOR THE CITIZEN AS THEY MOVE TO A MARKET ECONOMY.
Millionday [So HCL DONE OR JUST A FIX FOR THE RV TO MOVE FORWARD?] THE HCL AND THE HCL FUNDING AND THE DISCOVERY LAW HAS BEEN COMPLETE. [with the article 140, hcl, and erbil completed ...what now will hold up the RV?] CBI HAS STATED THEY ARE READY AND THEY ARE HAVING WORKSHOPS TO ACTIVATE THE REFORMS SO I DONT SEE ANYTHING THAT IS HOLDING IT UP
Millionday THEY ARE IN AGREEMENTS WITH COUNTRIES SIGNING AGREEMENTS FOR INTERNATIONAL TRADE --- THESE ARE BEING DONE DUE TO PREPARATION AND THEIR RELEASE FROM CHAPTER 7 AND FOR THE TRANSITION TO A MARKET ECONOMY.
p71rock » November 15th, 2014, 4:27 am G20 proposes buffer to end too big to fail banks
* New "bail in" bonds rule set for January 2019
* Minimum buffer of 16-20 pct of risk weighted assets
* Rule to be finalised by G20 summit in 2015
By Huw Jones LONDON, Nov 10 (Reuters) –
The world's biggest banks should hold a buffer of bonds in case of a collapse so that government bailouts are avoided, a global regulatory body proposed on Monday.
The draft rule is the last major piece of banking reform put forward by world leaders since the 2007-09 financial crisis forced taxpayers to shore up undercapitalised lenders.
The Financial Stability Board (FSB), made up of regulators from the Group of 20 economies (G20), said global banks like Goldman Sachs and HSBC should have a buffer of bonds or equity equivalent to 16 to 20 percent of their risk-weighted assets from January 2019.
The bonds would be converted to equity to "bail in" a stricken bank. The total buffer would include the minimum mandatory core capital requirements banks must already hold.
The proposal is set to be endorsed by G2O leaders later this week in Australia. It is being put out to public consultation until Feb. 2, 2015.
FSB Chairman and Bank of England Governor Mark Carney said the buffer would be finalised next year, marking a watershed in ending banks that are too big to be allowed to fail.
The new rule will apply to 30 banks the FSB has deemed to be globally systemically important, though initially those from emerging markets would be exempt.
"Once implemented, these agreements will play important roles in enabling globally systemic banks to be resolved (wound down) without recourse to public subsidy and without disruption to the wider financial system," Carney said in a statement.
Most of the banks would need to expand their issuance of debt to comply, the FSB said. Some senior debt already issued would will also need restructuring.
To avoid banks downplaying the riskiness of their assets to meet the new rule, the buffer, formally known as total loss absorbing capacity or TLAC, must also be at least twice their leverage ratio, a separate measure of capital to total assets regardless of the level of risk.
Globally, this yardstick has been set provisionally at 3 percent but it could be higher when finalised in 2015.
Parts of the buffer would be held at major overseas subsidiaries to reassure regulators outside a bank's home country.
"We believe TLAC will be a more material challenge in Europe than in the U.S.," Fitch ratings agency said ahead of the announcement. Extra requirements from national supervisors could swell the buffer to 25 percent of risk weighted assets, it added. (Editing by Keiron Henderson)
walkingstick » November 15th, 2014, 11:30 am
BRICS say failure to enact IMF reforms damages institution’s legitimacy
Published time: November 15, 2014 08:43
Edited time: November 15, 2014 11:50
BRICS countries’ leaders are disappointed by the US block on IMF reforms to help developing countries have more influence internationally. They called for the G20 to ratchet up pressure if America doesn’t ratify the 2010 IMF reform by the end of the year.
“The leaders have called for G20 to plan a discussion of options the IMF will present in January 2015 in case the US doesn’t ratify the 2010 reform by the end of this year," said a joint statement released by the BRICS countries at the G20 summit.
The statement also says, “The leaders have confirmed their disappointment and serious concern about violation of the 2010 IMF reforms and the impact it has on the fund’s legitimacy and trust towards it.”
BRICS leaders said inordinate delays with the ratification contradict the joint responsibility assumed by G20 leaders in 2009.
In 2010, the group of developed economies whose combined GDP accounts for 80 percent of the world’s total output, agreed to reform the IMF quota and governance arrangements. The G20 countries agreed to double the overall volume of quotas from 238.4 billion in SDR (special drawing rights) - an international type of a reserve currency - to 476.8 billion and redistribute 6 percent to developing economies.
An IMF quota represents a country's contribution to the fund’s capital as well as its clout in the IMF’s decision making process. It can also decide the size of any loan a country receives from the IMF.
The US, which possesses 17.69 percent of SDR, still hasn’t ratified the revision of quotes.
On Friday, Russian President Vladimir Putin also said the blockade of the IMF reform by the US meant that America had dropped out of “the general context of resolving the problems facing the international community."