kwb0748: I fail to see why Greece can be a real excuse for any delay. Always will be some kinda conflict around the world at any given moment.
Macjedi: 180 plus countries to keep in compliance for a successful Global Currency Reset. All when placed in the desired position is very similar to a stacked house of cards... Each relying on the strength and stability of the others.
Some wonder why Greece can cause such trouble with moving forward...
The actual reality of such an undertaking as trying to reset global monetary values is like herding cats.
Any one country could be the cause for alarm if they were unwilling to play this herding game... It just so happens that the position Greece holds financially if they are unwilling to comply has an effect on other countries as all need their very best suit coat on and their very best polished car in order to enter this race and gain a positive position at the starting line.
Each can be affected if the car in front of them has bald tires or only half fuel as each of them are tied to the central hub of this financial escapade.
[natok] closing bell market talk on greece today...they were saying they didn't know if greece could come up with the money before Tuesday, but if they didn't, that the IMF would prob give them a helping hand for a couple of days or so, unless they could come up with the funds. (any suggestions how that could happen-I vote RV!)
BestBuy: This could be it. China could announce GOLD backed currency> http://www.thestreet.com/story/13199812/1/chinese-gold-standard-could- create-fireworks--bloomberg-intelligence.html?puc=yahoo&cm_ven=YAHOO
[LAS] Bruce from The Big Call tonight: one source says that its looking good tonight; the intention is that it happens by this weekend; other sources the end of the month; lining up to embark on a new journey; heard that last Sunday it was going down; rates are still good; don't believe it's being held up; most intel people are told to be quiet.
TnDr: BREAKING NEWS!! Court decision Atahahalh Nuri al-Maliki and his aides to court on charges of genocide International Criminal Court’s decision to refer the Iraqi Prime Minister Nuri al-Maliki and his aides to court on charges of genocide: Aliraqnews.com
SassyD: Court decision Atahahalh Nuri al-Maliki and his aides to court on charges of genocide..... International Criminal Court’s decision to refer the Iraqi Prime Minister Nuri al-Maliki and his aides to court on charges of genocide: Aliraqnews.com -- June 25, 2015 -- http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http://aliraqnews.com/
[natok] Greek debt crisis: Everything you need to know - USA Today www.usatoday.com/story/money/...greece-debt.../29284181
USA Today 5 hours ago - Greek debt crisis: Everything you need to know. Greece must come up with a loan payment of $1.8 billion to the International Monetary Fund by Tuesday to avoid a default.
Greece and its creditors are still squabbling over a final deal as the clock ticks and next week's deadline looms.
Greatly Blessed: Stop Currency Manipulation In The Trans-Pacific Partnership
Millions of Jobs at Stake By Robert E.Scott | May 12, 2015
Currency manipulation distorts trade flows by artificially lowering the cost of U.S. imports and raising the cost of U.S. exports, and is the leading cause of stubbornly high U.S. trade deficits over the past 15 years.
More than 20 countries, led by China, have, together, been spending about $1 trillion per year buying foreign assets to artificially suppress the value of their currencies. Several members of the proposed Trans-Pacific Partnership (TPP)—including Japan, Malaysia, and Singapore—are well known currency manipulators, and others—including South Korea, Taiwan, and China—have expressed interest in joining the agreement.
A growing number of economists, and a bipartisan majority of members of Congress, have called for the inclusion of “strong and enforceable foreign currency manipulation disciplines” in the TPP. This policy memorandum describes currency manipulation, outlines standards that should be used to define currency manipulation for enforcement purposes, and reviews enforcement tools that can be used to counter currency manipulation in the future. It also estimates jobs that would be gained by eliminating currency manipulation.
As this research shows, ending currency manipulation could significantly reduce U.S. trade deficits and create millions of jobs, with job gains in every state and most or all U.S. congressional districts.
This policy memorandum, which draws heavily from research findings in a 2014 EPI report (Scott 2014), makes the following key points about currency manipulation:
§ Government purchases of foreign exchange reserves and other financial assets denominated in foreign currencies are the principal tool of currency manipulation. Large-scale purchases of such assets keep the currencies of interveners undervalued, artificially subsidizing the cost of their exports and taxing their imports, and increasing their trade surpluses.
§ Official (government) holdings of foreign exchange reserves and other foreign assets increased by roughly $1 trillion per year between 2008 and 2014. Although official holdings of foreign exchange reserves by currency manipulators fell slightly in 2014, largely due to the Russian financial crisis, total government holdings of other foreign assets increased by more than $600 billion. Currency manipulation kept the currencies of most interveners substantially undervalued in 2014.
§ There is a strong correlation between the trade (current account) surpluses of interveners and their purchases of foreign assets. Both averaged approximately $1 trillion per year between 2008 and 2014.
§ Quantitative easing (QE) is easily distinguishable from currency manipulation; thus action to end currency manipulation won’t infringe on a nation’s right to engage in quantitative easing.
§ Although currency manipulation is prohibited by both the International Monetary Fund (IMF) and the World Trade Organization (WTO), neither has been able to stop it. The IMF, in particular, has no enforcement tools to compel countries to abide by their obligations to avoid manipulating exchange rates for commercial gain.
§ Eliminating currency manipulation would reduce the annual U.S. trade deficit by $200 billion under a low-impact scenario and $500 billion under a high-impact scenario. This would increase U.S. GDP by between $288 billion and $720 billion per year (between 2.0 percent and 4.9 percent) and create between 2.3 and 5.8 million jobs.
§ Each of the 50 states and the District of Columbia would gain jobs under both the low- and high-impact scenarios. Job gains under the low-impact scenario would range from 1.06 percent of employment in Washington, D.C., to 2.29 percent of state employment in Wisconsin. Job gains under the high-impact scenario would range from 2.64 percent of employment in Washington, D.C., to 5.55 percent of employment in Wisconsin.
§ Nine of the top 10 states gaining the most jobs (as a share of total employment) in both scenarios are in the Midwest. They are Wisconsin (64,700 to 156,600 jobs), Indiana (61,000 to 152,600 jobs), Iowa (34,000 to 79,600 jobs), Minnesota (55,900 to 135,300 jobs), Michigan (82,800 to 207,200 jobs), Ohio (103,200 to 254,600 jobs), South Dakota (9,200 to 21,100 jobs), Kansas (28,900 to 67,000 jobs), and Nebraska (19,000 to 44,200 jobs). In the West, Idaho (13,900 to 32,700 jobs) rounds out the top 10 states gaining the most jobs.
§ Jobs are gained in all but two congressional districts under the low-impact scenario, and in all congressional districts under the high-impact scenario. Under the high-impact scenario, each of the top 20 districts by jobs created as a share of district employment would gain at least 14,700 jobs and as many as 24,400 jobs (gains representing between 5.79 percent and 8.65 percent of total district employment). Of the top 20 congressional districts, five are in California; three are in Wisconsin; two each in Indiana, Ohio, and Michigan; and one each in Kansas, Nebraska, Illinois, Minnesota, Washington, and Iowa. Under the high-impact scenario, among all districts, net job gains range from a low of 6,300 jobs in the 34th Congressional District in California to a high of 24,400 jobs in the 17th Congressional District in California.
Currency manipulation is a growing problem that has vexed policymakers for more than two decades. Currency manipulation has shifted production and jobs from deficit countries (principally the United States, and to a lesser extent, the European Union) to the surplus countries (China and other currency manipulators). In the current economic environment, this has contributed to critical trends bedeviling the U.S. economy: the slow recovery from the recent recession, the persistence of high levels of un- and under-employment, and the suppression of wage growth. In this context, it would be unconscionable for the administration to negotiate, or for Congress to approve, a trade agreement that does not include strong and enforceable tools to end currency manipulation.
Greatly Blessed : Addressing currency manipulation is an important part in the TPP-Article dated May, 2015. I am hoping that this was a part of the puzzle in order to get the GCR done. Very interesting to say the least.