3SIntel: “A question that sometimes drives me hazy: am I or are the others crazy?” ― Albert Einstein
[cruiser] Hello and Good morning Everyone!!! Basel Group in the news:
[cruiser] "The Basel Committee on Banking Supervision yesterday published a draft of the standards, which it said would prevent companies from exploiting rule differences between nations. The paper sets out a partial list of assets that can count as collateral, including gold and some equities.
[dinofan] So before this Basil rule they were using the same collateral over and over for multiple transactions? Surprised it didnt blow up in their face sooner. Try doing that yourself!
Read More Link on Right
waterworld] kimskennelklub cruiser .... IMO... the article is good news, exspecially this part... The U.S., the Treasury Department proposed an exemption for foreign- exchange swaps and forwards from most of the Dodd-Frank Act’s clearing and trading rules.... cont.
[_waterworld] The Treasury said there was less counterparty and settlement risk in foreign-exchange contracts than other types of derivatives. [dinofan] redsnowbird So if i read this right , banks still will only need 30% in reserve, instead of 10% as I think they need now?
[kimskennelklub] _waterworld i felt it was a good article also
[_waterworld] kimskennelklub ... gm and pray it will be a GREAT WEEKEND FOR NEWS!
[_waterworld] redsnowbird ... Less risk in foreign currency... IMO... That is why they are woking on a multi-world reserve instead of just the USD...... Again MO...
[cruiser] Here is what I gathered last night after doing hours of research on Basel III structure as to how it will be monitored or enforced: The Basel Commitee or Basel Group will be sending out regulations to all countries. They will choose to be compliant or not (I beleive there are 170 compliant countiries trying to find an accurate number). The compliant countries will then use their Central Banks to enforce the Basel III to the Public and Private banks of that Country. Central Banks will NOT have to be Basel III complaint.
[chillimac] cruiser i thought central bank was owned by one of the bad boys
[cruiser] chillimac Each country has their own central bank. The U.S has the FED reserve. That will be changing to the UST if it has not already.. [cruiser] I still see this going towards the banks being exposed as the bad guys in the media..
[redsnowbird] dinofan The FDIC cannot support the banks if they fail.... and I don't think the US Treasury can as well.... I know what they say.... but in practical application, there is no way they can save if there is a domino effect.... That is why I am going to get Lloyds of London Insurance as well.....
cruiser] kids that is the completion date. 2019. Currently from what i gathered there are 170 countries that are going t obe basel III complient. There are timlines that each have to meet through out the next couple of years. I beleive all 170 are currently up to date. I know the U.S will be 100% in compliance after the Dodd Frank Act is completed in 2014.
[larryc] China economy is still in free fall, they lowered the interest rate again
[cruiser] larryc The Global Economy is in a free Fall !!!!
[cruiser] pianamama63 The RV can show its ugly mug any time now
[larryc] cruiser yep, the USD is going down fast
[cruiser] larryc No it is not. The USD is Strong and we want it stronger..
[cruiser] pianamama63 If I had that button I would be kicking it, step on it, punching it..
[blondyi40] did anyone read in recaps where doc said it would not rv over 1 dollar
[redsnowbird] blondyi40 Yes....that is where 30% of the intel gurus think it will be.
[nutzo] blondyi40 iraqi people have no confidence in the dinar, and if it rv'd at $1.00 then the people will still use it as it has a good history, it must be worth more than what it replaces or de-dollerisation will fail----end
[redsnowbird] blondyi40 We will adjust to whatever the rate is.... their rationalization is firmly grounded on the reasons why the $1 could be the rate.... however, other gurus have their rationalization and it is also based upon good logic for why the rate is $3-4.... Plan for both scenarios if you can.
[tradeviper] The gurus info in not based on opinion, its based on the pre negociated contracts with wells fargo
[Sprinkles] Can we still RV today?
blue skies] Sprinkles why not!!!
cruiser] larryc the dollar is strong because the Euro is low. The pound is Low. Oil is down still 20% for the year. Gold is down 5% or more. That is why the dolar is high.
[steveg] tradeviper you have read that we have a finale rate with WF? I was always under the impression that the final rate will not be known until after the RV. I hope you are right.
[redsnowbird] tradeviper I was just reflecting on the different rate estimates by the different gurus... but you are correct about the WF rate... that will be what is negotiated.
[tradeviper] Have not read anything, the contracts are already negotiated, just waiting to be signed and dated when released,
[tradeviper] the only thing that is not outlined yet is the process and how it will go down
nutzo] redsnowbird also, with all these guru's saying totally different things, dates and rates, after it pops, those that were closest will be remembered, all others will be fade from memory, and go back into obscurity, this is their moment in the light,
[redsnowbird] nutzo I agree.... though I will probably remember a lot of our gurus even if they are incorrect.... and hopefully they won't just fade into the distance!
[hiddentreasure] "In the midst of confusion shall come a clear golden thread of light illuminating and making known My perfect will saying, 'This is the way, walk ye in it.' Fear not, wrestle not, but follow the steps one by one into My perfect and abiding will. Say not to your heart, 'It is finished,' but say to your heart, 'It has begun, and My God shall establish and bring forth all that He has proclaimed in the land of the living.' Thank-You Father
[DOUBLE B] Swat: Maliki threatened with murder and ordered to promote personal
Hamayate [DOUBLE B] The source said that Maliki had received yesterday letters threatening assassination did not know the source of his part, is increasing the number of protected personal by providing a large number of protections and trained special forces, SWAT, which reached the number of troops added, including more than 320 people, adding that security has been tightened around the in an unprecedented manner to include all the characters that you meet or seek to meet him
[tab200] I hope who ever is threatening is a good shot
Maryrose] barb noway37 Recaps is all over the board this morning. First time in a long long time that I've seen that. What makes me feel ok about it is that most, if not all of the authors I've never seen before which makes me think SMOKE!