[Already Blessed] Well, it does sound like you all need to hear just a little bit of what we were hearing late last night and are trying to confirm this MORNING.... WE HAD SOME AMAZING INFO AND I AM BLOWN AWAY BY THE LEVEL OF INTEL....I AM SURE THAT TONY WILL LET YOU KNOW WHAT IS GOING ON....BUT WE HAVE TO GIVE HIM A LITTLE TIME TO WAKE UP AND START GETTING THE INTEL IN ....HANG IN THERE....I AM VERY EXCITED!
[LaGal] “Each morning when I open my eyes I say to myself: I, not events, have the power to make me happy or unhappy today. I can choose which it shall be. Yesterday is dead, tomorrow hasn’t arrived yet. I have just one day, today, and I’m going to be happy in it.” >> Groucho Marx
Chilimama: MF Chief Christine Lagarde - New Transitions in Global Economy/ Thursday, Oct. 3 at 10:00am EDT….Lagarde to Discuss Managing New Transitions in Global Economy IMF Chief Christine Lagarde will discuss the global economy and look ahead to the 2013 World Bank/IMF Annual Meetings. Watch live on Thursday, Oct. 3 at 10:00am EDT and follow on Twitter at #188together.
Read More Link on Right
[fuldon35] Here is the link to LaGarde speech. I don't think she will say much, is address the 2013 meeting today at 10 AM. http://www.imf.org/external/index.htm
MWC: RV needs to happen today October 3, 2013 Lets GOOOOO RV! Drove around saw bank lights on at local Chase in AZ it is 3:48 AM my time here currently. Can this really be the day finally let's see when banks open.
Blackbird136: Guys and Gals: The October 3rd date is getting better! Iraq last had a Clean Floating IQD (meaning the value of the IQD or its exchange rate, was determined purely by supply and demand, in the open market) on, wait for it, wait for it...
October 3, 2003 exactly 10 years from Today, the day we will RV and go to a Clean Float again!!!
On October 4, 2003, they went to the managed float it has now....
Here are some interesting discussions of what Iraq should do with their currency, written in 2003 Leading Economist Nouriel Roubini's take is good, but I like the second one by Jeffrey Frankel of Harvard. he says that the IQD should peg to a basket of 1/3 USD, 1/3 Euro and 1/100th of oil price; that equates to $0.33 + 0.46 + $1.02 = $1.80, which I'd take in a heartbeat even with all the talk of $25.87!
Not as big a reach for October 3, 2013 RV exactly 10 years since it Clean Floated! Let's get it done!
God Bless B136
BlueStar: THE SMOKING GUN AS TO WHY WE'VE HAD A DELAY!!!!!!! http://phoenixrisingradio.net/
OCT. 2ND SHOW23 min - 31 min.45 sec. MARK ALSO the 46 min.- 47 min :40 sec. MARK
US TREASURY DOES LAST STEPS TO PRESERVE BORROWING AUTHORITY RE:OUR DINAR AND GCR DELAY
Tuesday, 1 Oct 2013 US Treasury starts last steps to preserve borrowing authority
The U.S. Treasury on Tuesday started using its last tools for pushing back the day when the government will run out of legal borrowing authority, Treasury Secretary Jack Lew said.
Lew said his department was suspending some reinvestments of a government currency exchange fund and would also enter into a debt swap with the Federal Financing Bank and the Civil Service Retirement and Disability Fund.
(Read more October 1st: 143-year-old law puts fear in officials during shutdown)
He repeated that these measures would allow it to continue below its $16.7 trillion limit for a little while longer, but that by Oct. 17 the government would exhaust its borrowing authority and be left with about $30 billion in cash to pay the nation's bills.
"If we have insufficient cash on hand, it would be impossible for the United States of America to meet all its obligations," Lew said in a letter to lawmakers. "For this reason, I respectfully urge Congress to act immediately to meet its responsibility by extending the nation's borrowing authority."
There was an article posted by Reuters "US Treasury starts last steps to preserve borrowing authority" (link). http://www.cnbc.com/id/101078895
In it there was something that caught my eye "Lew said his department was suspending some reinvestments of a government currency exchange fund...". Well, that "government currency exchange fund" would be the Exchange Stabilization Fund.
Normally, this fund is used to prop-up a foreign country's currency by creating a quantitative easing of sorts and weakening the currency to usd, allowing for a greater export/import and bringing the country out of a "recession".
(A few examples but, the one I'm looking at is japan's yen link) We both know that the US isn't in any position to help another country.
However, what is interesting is that for Lew to touch this thing...in any manner he must have the president's approval to open it up. ("A change in the law, in 1970, allows the Secretary of the Treasury, with the approval of the President, to use money in the ESF to "deal in gold, foreign exchange, and other instruments of credit and securities" link) It holds our "foreign reserves" and our "SDRs". "The Gold Reserve Act authorized the ESF to use such assets as were not needed for exchange market stabilization to deal in government securities".
What if the entire reason behind the government shut down, was to give Lew the availability of the EFR, so that the IQD (among others) could be turned around to "deal in government securities"? It would allow the president to claim turning the deficit around "by making wise decisions despite those horrible tea baggers."
Currently, we can't even check what the Treasury's current reporting rate of exchange rate is...cause guess what...they shut it down. "Due to the lapse in federal government funding, this website is not available. We sincerely regret this inconvenience." link The most recent pdf available that I have found is from 2005. link (another thought, as long as the government is shut down and the current report rate is unavailable...what is used in the US for going exhanges?)
Perhaps, I'm running down a rabbit hole (i have been with children all day...lol) but, the president just doesn't seem to pissed about the shut down....there is something more there.
*Currency intervention, also known as exchange rate intervention or foreign exchange market intervention, is the purchase or the sale of the currency on the exchange market by the fiscal authority or the monetary authority, in order to influence the value of the domestic currency. link
*The Exchange Stabilization Fund (ESF) is an emergency reserve fund of the United States Treasury Department, normally used for foreign exchange intervention. This arrangement (as opposed to having the central bank intervene directly) allows the US government to influence currency exchange rates without affecting domestic money supply.As of October 2009, the fund held assets worth $105 billion, including $58.1 billion in special drawing rights (SDR) from the International Monetary Fund.