BACKDOC: I KNOW IT'S EASIER TO JUST PUT OUR EYES ON IRAQ'S PROGRESS BUT THAT LEADS TO FRUSTRATION WHEN GLOBAL CURRENCY FACTORS ENTER IN TO PLAY!
THIS ARTICLE AND SEVERAL MORE THAT THUNDER BROUGHT YOU BEGINS TO SHOW YOU WHY I'VE BEEN BRINGING YOU THIS GLOBAL NEWS FOR THE PAST FEW YEARS!
WHO CO-SIGNED ON THE IMF LOANS? RIGHT! THE U.S. ! SO WHATEVER AFFECTS THE U.S. AFFECTS IRAQ!
WAS IT A SURPRISE TO YOU THAT IRAQ MOVED THE TARIFFS FROM THE 15TH TO THE 25TH? MMMMM NAAAAA HEE HEE
TWO DAYS AFTER POSSIBLE BREXIT GIVES TIME FOR CENTRAL BANK ACTION!
IF FINANCIAL TROUBLE OCCURS LOOK FOR THE BOJ (Bank of Japan) TO CUT RATES ON THEIR MEETING AND THE U.S. MAY NEED TO DO ANOTHER ROUND OF QE CAUSING THE DOLLAR TO DROP AND SENDING MARKETS UPWARD BECAUSE THE DOLLAR BEGINS TO DEVALUE!
THE ONLY QUESTION REMAINS AS TO WHEN THE DOLLAR COMPLETELY LETS GO OF ITS' RESERVE STATUS AND LETS THE OPEC ABANDONED UNIVERSAL CURRENCY TAKE ITS' FULL CONTROL OVER REAL VALUE! MMMM
THIS IS THE YEAR OF TRANSITION!
ONCE THE EMERGING COUNTRIES TAKE ON THEIR NEW FOUND VALUES THE GAME BEGINS!
WILL THE IMF FOLLOW THROUGH WITH, "ALL WILL BE DONE BY MID YEAR"?
WITH NO OTHER WORD, AND WITH MANY POINTS OF GLOBAL PROGRESS, WE HAVE TO BE ENCOURAGED.
REMEMBER, SINCE "IT'S ALL ABOUT IRAQ, IT'S NOT ABOUT IRAQ"!
WITH CURRENCY SWAPS WAITING IN THE WINGS, DAMAGE CONTROL IS READY AND WAITING!
ON THE 26TH, REMEMBER CATALONIA ALSO VOTES TO SECEED FROM SPAIN!
CONVERGENCE? OHH YAAA! 8@8, DOC IMO
Thunderhawk: Brexit helped keep Fed on hold, could slow future U.S. rate rises
Federal Reserve Chair Janet Yellen left U.S. interest rates unchanged on Wednesday, citing slow jobs gains, tepid growth and low inflation - and an impending vote in Britain on whether to quit the European Union.
"I think it’s fair to say that it was one of the factors that factored into today’s decisions," Yellen said of the "Brexit" vote next week. "Obviously how that turns out is something that will factor into future decisions."
It was not the first time global issues have played into Fed decisions on domestic monetary policy. Last fall the U.S. central bank deferred an expected rate rise after global markets swooned in response to an unanticipated slowdown in China's economy.
Britain's exit from the 28-member EU would add more uncertainty for Yellen's Fed as it seeks to re-establish its rate-setting credibility in the face of skeptical markets which have now all but priced out a rate rise by the U.S. central bank this year.
But beyond noting a Brexit could have "consequences for economic and financial conditions in global financial markets" that could in turn affect the U.S. economic outlook and the appropriate path of U.S. policy, Yellen gave few specifics on how she saw a UK departure from the bloc playing out.
Economists fear a "leave" vote could unleash turmoil on global financial markets. Traders in London are readying for all-nighters after polls close late on June 23.
Global exchanges say they will be on the lookout for disruptions.
The European Central Bank is prepared to pledge to backstop financial markets alongside the Bank of England.
And the Fed has standing swap agreements that would allow the BOE to buy sterling with dollars borrowed directly from the U.S. central bank under arrangements first used in response to the global financial crisis in 2008.
There are conflicting signals on how Britons will vote, with betting odds suggesting they will opt to stay in the EU, and some polls showing a "leave" decision will win out.
On Wednesday, however, even the reliably hawkish president of the Kansas City Fed, Esther George, agreed with her colleagues that rates should not rise. She did not say why, although some economists conclude she was swayed by Brexit uncertainty.
BREXIT RISK AVERSION TRANSLATES INTO RISING DOLLAR
The immediate concern to Fed officials is the potential market fallout, with the dollar expected to strengthen if the "leave" camp prevails. Sterling is the only major currency that has lost ground against the dollar so far in 2016, dragged down by a swing in opinion polls that indicate an "out" vote.
A rise in the dollar's value drags on U.S. exports and puts downward pressure on U.S. inflation, already well below the Fed's 2-percent target.
Last year the stronger dollar was a key reason the Fed deferred its rate hike as long as it did, until December.
Other effects are far more uncertain, but Britain runs a large trade deficit and is reliant on foreign inflows to finance it.
Just over half of economists polled by Reuters in April, for instance, said the Bank of England would probably respond by cutting rates to cushion the economy against a slowdown. The remainder, however, predicted a rate hike, perhaps to head off a rise in inflation set off by a plunge in sterling.
Analysts also worry a U.K. decision to leave the EU could spur other defections, unraveling one of the world's biggest economic blocs and hurting long term prospects for regional and world growth.
BACKDOC: NICE! COMPLETION OF A FINANCIAL HUB FOR THE GOLDEN TRIANGLE!
WILL WE SEE THIS AS THE BIRTHPLACE OF THE NEW URAL CURRENCY RUSSIA AND IRAN PLAN TO USE? MMMM
THE LINKS TO THE SILK ROAD BEGIN TO TAKE SHAPE WITH GERMANY,IRAN,CATALONIA,ITALY,GREECE,INDIA, AND THE USUAL PLAYERS!
HEE HEE DOC IMO
Thunderhawk: China, Iran to set up oil export terminal in Persian Gulf
Iran also plans to set up a financial center on Qeshm Island as a gateway for foreign banks and other institutions to enter its domestic market, Bloomberg reported on Tuesday.
Several Chinese and Russian banks have already expressed interest in opening offices on the island.
Thunderhawk: Iran in talks with Chinese, Russian banks on finance hub plan
Iran plans to set up a financial center on the free zone at Qeshm Island in Hormuzgan Province as it seeks to attract financial institutions to an 80-million-strong market.
Chinese and Russian banks are seeking to set up representative offices in the area, Farhad Taqizadeh-Hesari, senior adviser to Qeshm Investment and Development Co., said in an interview.
One of Japan's largest banks is also negotiating on establishing a presence, he said, declining to identify the banks, Bloomberg reported.
"The aim for this financial center isn't to look onto Qeshm, but to be a window onto the mainland." he said. "There is much interest to enter Iran."
Iran's economy has traditionally relied on oil revenue and consumption by the internal market. That market provides opportunities for retail banking and project finance as the country vies to overhaul its infrastructure and spend billions of dollars expanding airports, transportation links and its energy sector after the lifting of economic sanctions in January.
The International Monetary Fund expects Iran's economy to expand four percent in the 12 months to March 2017.