Blondie: Awake-in-3D August 1, 2016 at 12:20am
As expected, and posted by me earlier this morning... "Nothing much, at our level, happens on a Sunday".
However, while today did not provide evidence on a magnitude of what has occurred over the past several days, there was today one specific event occurrence, on the financial side, that provided an extremely solid data point indicating that the final process is continuing to unfold to our ultimate benefit. I call it a "proof of life" event.
Is the USN installment step at the ready? Yes.
Are the funds and related release mechanisms in place in specificity? Yes.
Has the trigger for exchange notifications been pulled as of right now? No.
As always, we don't know the date or time. But all indications are that we continue to be inching towards that date and time in very short order - as of this moment. There is no information indicative of an unplanned interruption in the process at this time.
I remain highly encouraged and optimistic. :)
MDS1965: THE TEAPOT IS GETTING LOUDER AND LOUDER AND THE PITCH HIGHER AND HIGHER, IT JUST HASN'T STARTED BOILING OVER YET...(THAT'S MY OWN ANALOGY...JUST MADE IT UP)...HEHEHE
Rocketman: MDS1965 Thanks Do you have the same opinion that things were about to go and did not?
MDS1965: WELL ROCKETMAN...I THINK THINGS ARE JUST STILL SLOWLY BOILING VERSUS A RAPID BOIL...IF THAT MAKES SENSE...I CAN'T SEE ALL THE DETAILS, I JUST KNOW IN MY "KNOWER" THAT THINGS ARE GETTING CLOSER TO BOILING OVER...DON'T KNOW WHAT THE "EXACT" TEMPERATURE IS FOR BOILING OVER...THAT MAKE SENSE?
Taxmom: NOTHING STOPPING THIS. BANKS FAiLING STRESS TESTS. IT iS WORKING ITS WAY THRU TO IMPlOSION
MDS1965: IT'S LIKE THE OLD COMMERCIAL: "HOW MANY LICKS DOES IT TAKE TO GET TO THE MIDDLE OF THE TOOTSY ROLL POP?"
Beams: fwiw: >>JAMES RICKARDS Reveals IMF World Currency Crash Complot, We Need Gold Standard to Save Us https://www.youtube.com/watch?v=GJ2VxgsHXdw
THJ: Since July of 2004 I've watched for this nearly everyday. Just like the Germany and Japan currency after World War II, the Marshal plan is in effect for Iraq…. I'm really excited to see the economic explosion that will shortly happen….. Go RV!!!!!!
Harambe: Oil falls as oversupply still weighs on market
Meatloaf: Hey Frank! Long time no talk my friend. I've got this feeling deep down inside that August will be truly a start for new beginnings. I don't believe God wants to "start" a new thing but I do believe He wants to release (cause it was started a long time ago) a new thing.
Frank26: Greeting Good Friend ..............\m/............. IMO ............. August can be looked as a New Beginning BUT ..............Sept/Oct will show You an evidence of Your Faith.
Be Strong .......... Then Learn to be even Stronger when You step on this new Beginning.
Samson: With a global economy in serious trouble, something's got to give
Updated about 6 hours ago
Economic growth is faltering and increasingly desperate measures by central banks are proving ineffective. Meanwhile, both stocks and bonds are hitting record highs. It's an each way bet on boom and bust and it's unheard of, writes Ian Verrender.
John Maynard Keynes reputedly once said that markets could remain irrational longer than you could remain solvent after losing a substantial amount of dosh on a trade gone wrong.
While there's no direct evidence of him ever mouthing those exact words, he was pretty clued up on just how irrational the world and markets could be.
Just consider the past month. Any rational investor would pull their cash out of the market right now as economic growth continues to falter and as governments fret about deflation.
But it is not to be. Wall Street finished the month on a tear, close to an all time record, just as America revealed second quarter annual growth of just 1.2 per cent, well below the expected 2.6 per cent.
It was a result that almost certainly derails the US Federal Reserve's plans to hike interest rates next month and came just hours after the European Union reported a similarly tepid economic performance.
Eurozone growth slowed in the second quarter with an annual rise of 1.6 per cent.
Meanwhile, stress tests of European banks again revealed massive problems in Italy's banking system while two major UK banks, Royal Bank of Scotland and Barclays, performed poorly.
The world's oldest bank, Italy's Bank Monte dei Paschi di Siena, was the worst performer, and was bailed out over the weekend. It's no minnow, by the way. As Italy's third biggest deposit taker, it's a too-big-to-fail operation.
Germany's Deutsche Bank passed the stress test but so far this year has seen its market value decline more than 43 per cent. It is a similar tale across much of Europe and it indicates the Continent's banking system is ill-equipped to handle another crisis.
Meanwhile in Japan, the central bank on Friday developed a severe case of cold feet, with a decision to not push even further into the monetary policy unknown.
It was expected to embrace a new round of radical policy known as Helicopter Money. While it did announce an extra round of stimulus, with a policy to pump even more cash into the economy, it opted not to board the chopper.
Helicopter Money is a process where the government rains cash down on the country with direct deposits into citizens' and company accounts.
The idea is that this would be financed by the central bank buying government bonds. That, however, is a policy that ultimately destroys the concept of an independent central bank, as monetary policy is employed to finance government largesse.
The fact that it was a close call tells you that not only is it being considered but that the global economy is in serious trouble.
After decades of poor performance, Japan has embraced the most radical monetary policies the world has ever witnessed and on a scale that could never have been imagined.
It has ramped up its Quantitative Easing program - a euphemism for money printing - to never before seen levels and hacked interest rates to below zero, a policy it swore it would never embrace.
On Friday, Bank of Japan governor Haruhiko Kuroda merely tinkered around the edges with some modest extra spending. More importantly, he raised questions about whether the central bank had gone far enough and said it was time to assess the impact of their policies.
On Tuesday, our very own central bank gathers to ponder the very same questions. It will be Glenn Stevens last meeting as governor.
Pressure is mounting for the Reserve Bank of Australia to apply pressure to the currency, to deflate the Australian dollar in a bid to boost inflation and lift global competitiveness.
At 1.75 per cent, our rates are the lowest on record. But they are still well above those in most of the developed world, attracting cash from the globe and pushing the currency higher. While last week's inflation numbers were weak enough to allow another cut, it won't be an easy decision.
When it comes to business, lower rates have had the perverse effect of inhibiting investment.
Having deliberately fired up the already inflated east coast housing market to promote a construction boom, the central bank can ill afford for prices to head further into la la land.
Stopping that will require it to restrict lending for housing, a policy it has been reluctant to implement and even more hesitant to enforce.
Then there is the point Kuroda made on Friday. Would another cut have any beneficial impact? Would it encourage greater consumption or ignite business investment?
The answer is probably no. Australians have the highest household debt in the world and the rate cuts have prompted many to merely pay down their loans quicker. There is nothing wrong with that. But the point is, it comes at the expense of boosting consumption and business turnover.
When it comes to business, lower rates have had the perverse effect of inhibiting investment. Shareholders, unable to secure a decent return on bonds or cash, have demanded ever greater dividends from corporations.
Rather than reinvest profits into the business, most corporations have succumbed to shareholder pressure, paying out an ever greater proportion of their earnings in dividends. Similarly, given the global uncertainty, they have shied away from taking on massive amounts of new debt.
In another indication of just how nervous our business leaders have become, takeover activity, which normally runs hot when markets are in overdrive, has all but dried up.
When the takeover for logistics group Asciano last week was wrapped up, it left a deathly quiet in the mergers and acquisitions departments of our big investment banks. There's now officially nothing happening.
Meanwhile, the tension between those betting on calamity and boom continues.
US 10 year bond prices rose Friday, slicing the yield to just 1.45 per cent, after the lacklustre economic growth figures were released.
While that is not as low as the 1.31 per cent record of a month back, it indicates the incredible demand for those seeking the shelter of a safe haven.
Similarly, gold prices continued to push higher. With interest rates close to or even below zero, gold once again has become the choice for those seeking a safe harbour.
For more than two years, bonds and stocks have been heading in the same direction. Both have been hitting record highs. It's an each way bet on boom and bust and it's unheard of.
Something has to give at some stage. Either the global economy will recover, rates will rise and those holding bonds or overpriced real estate will do their shirts. Or stock market investors will wake up one day and discover that central banks have run out of ammunition causing a stampede for the exits.
Either way it won't be pretty.
ReddStarr: The central bank gives banks the government one month to implement electronic trading systems!
Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions, while among the beneficiaries and users proportion of those dealings in Iraq, "not to exceed" ten percent, favored the possibility of the contribution of orientations to expand their use and take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems.
The governor of the central bank and the agency, on the Keywords, in an interview vassal agency our economy News, "The payment system is an important pillar of the banking and financial sector," noting that it "consists of two phases first is related to the large total transactions between banks and companies within the system is settled and conducting clearing operations and liquidation of the great number of daily banking transactions. "
He Keywords that "the second phase of a retail of transactions daily for individuals to pay their obligations through electronic or mobile phone and other card payment system," noting that "the role of the central bank is monitoring and supervision beyond the field to the presence of problematic in banking transactions at the country level and the requisite large size of the precise organization. "
He explained the governor, that "the role of the central bank may be an operator or partner or used for system electronic banking," stressing that "the future role of the Central Bank is to supervise the system to be entrusted to operating the task to a company or a group belonging to the private sector companies."
Keywords and saw that "the application of electronic trading requires work to provide the infrastructure required," pointing out that such "legislative legal structure governing the banking services to all its details."
He said the central bank governor, that "the Central Bank conducted a comprehensive review of the laws of banking and regulations in force and to develop an initial draft of the required legislation in this area, and issued an electronic payment system and controls subscribe to the infrastructure of the payment system retail," noting that "the amount of $ 20 trillion dinars are being handled by a month under this system, a fast, accurate and support the national economy, away from a lot of problems. "
Promised Keywords, said that "very cool and sophisticated retail payment system and helps the bank to follow all these processes and to prevent violations and abuses, which is updated through the end of 2015, which are no problem," pointing out that "the Central Bank is currently working with the World Bank to review and evaluate the national payments system, where it was formed three locations of the data in the whole of Iraq, as well as one location outside Iraq to recover from the risks. "
He went on, saying the central bank governor, said that "Iraq needs a comprehensive banking systems, followed by the banking system to be able to achieve its objectives," revealing "a lack of State-owned banks for such an electronic system even though it has hundreds of branches."
And gave Keywords "State-owned banks until next September, to adjust their positions within this electronic system," Mstrsla that "the central bank takes the organizational side by issuing controls the use of electronic credit cards and there are plenty of companies that submitted bids for work on the processing of these cards the bank to the fact that the center has divided National, which regulates these processes, and represents an incubator electronic banking operations. "
Continued conservative, that "the Bank has developed a court will be launched in early 2017 to regulate such operations plan," and expressed regret that "as a result of the low percentage of beneficiaries and users in Iraq who do not exceed ten percent, and eight percent of these are very limited operations such as receiving only salary, and that only two percent of Iraqis are using smart cards ".
He expressed the Keywords, believed that "the trends in will help expand financial inclusion through the entry of more citizens to these systems and thus take advantage of in the possession of people's money supply which amounts to 77 percent outside the system, as well as get rid of the cash circulation problems LINK