Late Friday Night:
Rover: How is my TNT Family? Hello everyone..It's been a while since I have posted..I will pass on some info I just received..As Ray and Tony said..Be ready so you do not have to get ready..Iraq has gone international and all other sites except the Wolf Den and this site has gone down..and that is very strange..
I can not say anything else I received but..Please pray that this is the time...
All I wish to bring in is please be ready..Have your plan and make Da.. sure what trust you wish to use to protect your money..I want everyone to be safe and have a long life...that is why I share...
Kaseyko1: Rover, thanks for the tidbit! When I spoke with my attorney the other day, he indicated that some "whale" clients received notification for exchange. He did not indicate what date but that "we were here" at seeing the RV.
Artneto: Honestly, I was very surprised that we did not wake to 800#. Then I heard that they were waiting for banks to close in Hawaii. That was an hour and half ago. So news that we will see it tomorrow!! Im excited! I think this is finally it!
kaseyko1 : Artneto, I sure hope what you've heard pans out for tomorrow! Thanks for all the info you've provided.
Artneto : kaseyko it was ripe yesterday, but i"ll take it today!
Artneto : My cousin was in Turkey when the coup took place. He said that the military were marching (that was his word) around the airport. He knew something was about to happen. He boarded his plane before the news hit.
luvwulfs : I saw a report that coup was crumbling
Artneto L Luvs not sure what is happening as I am not following the Turkey news. But can you imagine one of our military branches storming the White House! super crazy stuff going on around the globe!
Xyz: LOP: Beware of the LOP. It is the antidote to "hopium". The most evil of all words. It is said that if you say LOP 3 times in a mirror at night you will turn to stone.
Others view the LOP as a mythical creature that will sneak into your home and alter all of your Dinars removing 3 of the zeroes.
wmawhite bottom line is; look around the region and ask ..."when Iraq is compared to the other countries and their GDP is the true value of Iraq reflected in their currency at $0.00086?"
Simply; No. And this is why Iraq does not use it and that there are obstacles preventing it from being used as Citibank stated.
IMO, when those obstacles are removed and the movement of the IQD is freed, IMO the CBI will move the value of the IQD to reflect its true value.
J+G: what Zap said in his General Call Thursday: 'THERE ARE SO MANY RUMORS FLOATING OUT THERE ON THE RV SIDE, BUT I DO KNOW THE INSIDE STORY BUT CAN NOT TELL IT YET –
SUFFICE TO SAY THAT EVERYTHING ON THE RV HINGES ON ONE PARTICULAR EVENT, AND NOT IT IS NOT BOB GOING INTO SOME ROOM (HE IS ALREADY COMPLETED) –
FROM WHAT I KNOW, THAT EVENT IS TO HAPPEN WITHIN THE NEXT COUPLE WEEKS (MORE OR LESS) NO MATTER THE TIMINGS THEY GIVE OUT THERE OF “TOMORROW AT 12 MIDNIGHT”.'
Samson: European Financial System is 'Nearing a Grand Catastrophe'
Euro sculpture stands in front of the European Central Bank, right, in Frankfurt, Germany
The cheap money policy of the European Central Bank creates risk for the entire European financial system, a German economist said.
The European Central Bank purchased €85.1 billion ($94.8 billion) of debt in June as it increased its asset-purchase program, Bloomberg reported.
The asset-purchase program is part of the ECB’s quantitative easing plan. The pace of buying in June compares with a target of €80 billion per month. Thus, the bank is directly investing into the European economy, bypassing the banking system.
This program creates significant risks while its advantages are questionable, financial expert Ernst Wolff said. He warned that the initiative may result in a total financial collapse.
The analysts explained that the ECB policy creates serious risks for small and less developed countries like Greece. At the same time, big economies like Germany take advantage of working with the regulator because the ECB acts in favor of rich and powerful investors.
In addition to corporate bonds, the ECB is buying government bonds. However, according to its rules, the bank cannot purchase bonds at a yield lower than the bank’s deposit rate, which is currently —0.4 percent.
However, Wolff noted, the ECB usually violates the rule, in particularly buying German government bonds.
"The ECB in its current forms and other large institutions don’t obey the rules. The financial system is a mess. Three years ago, no one could imagine a negative interest rate or the ECB buying junk bonds. But now the entire system is out of control," he told Sputnik.
The ECB also cannot get access to the shares of some German companies. But now the ECB is probably involved in the stabilization of Deutsche Bank, the expert pointed out.
Meanwhile, if the Central Bank decides to ease rules on buying assets European leaders are likely to oppose the move.
"The ECB is a supranational institution. Each European country has its own interests. This is why they will oppose the initiative. For example, Italy wants to save its banking sector with help from the European Stability Mechanism. But Germany is against it because it provides guarantees for this money. We’re witnessing that the financial crisis is making visible previously hidden conflict. And they’re a threat for the European Union," Wolff said.
The expert also criticized the ECB monetary policy, saying it is aimed at delaying the bankruptcy of the eurozone.
According to Wolff, the ECB failed to stimulate the economic environment in Europe because it has been investing "cheap money" into speculations, not real economy. Another problem is that the bank failed to control the inflation rate. Instead, the ECB is giving money at extremely low rates to speculators, creating a bubble in the financial market.
"Currently, there are growing bubbles in bond, stock and real estate markets. The trend cannot be reversed. We’re nearing a grand catastrophe," he warned.
In this context, an economic collapse is likely to be followed by a collapse of the entire European integration policy, Wolff said.
"The European Union is likely to fall apart. But no one can predict how it may collapse. Brexit has only intensified nationalist tendencies across Europe. The risk of a collapse is mounting," he concluded.
Euro Mark II? Eurozone Needs Parallel Money to Stop 'Collapse Into Chaos'
The European Central Bank is carrying out damaging economic policies for which it does not have a mandate, Markus Kerber, Professor of Public Finance and Political Economy at the Technology University of Berlin, told Sputnik.
In March 2015 the European Central Bank (ECB) announced the beginning of its expanded asset purchase program, in which it buys private and public sector securities "to address the risks of a too prolonged period of low inflation."
On average, its monthly purchases currently amount to about €80 billion ($89 billion), an increase from €60 billion between March 2015 and March 2016. The ECB intends to keep carrying out the purchases until the end of March 2017, spending more than €1.5 trillion in the hope of steering inflation in the Eurozone closer to two percent.
According to Eurostat, in June the rate of inflation in the Eurozone was 0.1 percent, having spent four months in deflationary territory; the program's introduction in March 2015 had been sparked by a four month period of Eurozone deflation.
The ECB decided to pursue quantitative easing after central banks in the US, Japan and UK undertook similar policies.
Markus Kerber, Professor of Public Finance and Political Economy at the Technology University of Berlin, told Sputnik that the policy is taking the ECB beyond its mandate as a monetary institution.
"The ECB's mandate is to maintain price stability, which it interprets as an obligation to control annual inflation at two percent – this is rather contradictory, and determined on the basis of consumer prices," Kerber said.
"One of the ECB's hypotheses states that without a minimal rate of inflation of two percent, there can't be growth. Many economists, including myself, don't agree with this hypothesis, and in light of the huge volume of measures adopted by the ECB, there is a justifiable question about whether it has reached the limit of its powers."
"The ECB appears to have created a situation whereby its main goal – economic growth – has not been reached, despite the fact that countries which are unstable like Italy, France and Portugal are allowed to continue their policy of expanding the national debt."
"Now the debts are worth nothing. Look at countries like Portugal, Spain and Ireland. There are far from economic powerhouses, but they have negative interest rates. That is not a reflection of the real economy at all."
In a bid to increase consumer prices, the ECB is purchasing securities to lower interest rates and encourage banks to lend more money. Kerber said it decided to expand the program to include the purchase of corporate bonds because of a lack of suitable government-issued debt securities.
"As far as I can see, the ECB doesn't have a reason to buy corporate bonds. The reason is probably that the ECB, more specifically the European banking system, has reached the quantitative limit of buying sovereign bonds."
Kerber said that as well as distorting the economic differences between Eurozone countries, the policy, which has now turned to buying corporate debt, is about to distort the corporate debt market.
"The ECB's interventions distort competition in the corporate bond market. (It distorts) the competition between companies which are lucky enough to sell their bonds to the ECB, and those which are forced to continue offering their bonds on the capital market and pay higher dividends on them."
Kerber said the policy also puts companies which do not issue debt securities at a disadvantage.
"These measures are also discriminatory in relation to companies which are not represented on the financial markets. These companies can only finance themselves using bank loans."
Kerber is founder of the Europolis think tank, which has on several occasions unsuccessfully contested the ECB's monetary powers in Germany's Constitutional Court, and the European Court of Human Rights.
He says that the German government and Bundestag have the power to reject the ECB policy, but have refused to do so.
Rather than carrying out quantitative easing, he has another suggestion to bring the European single currency in line with the real economy, and prevent a chaotic financial crash.
"I suggest the introduction of some kind of parallel currency. For countries with a positive trade balance, the euro currency is too cheap. Above all, it makes sense for the former Deutschmark zone countries to introduce a parallel currency."
"Of course, we could wait until the whole system collapses into chaos. But it is possible to act purposefully and create a system that overcomes the tension in the euro area in an evolutionary way."