Iko Ward: So why did crude drop a whole dollar after the FED announcement? Answer...they know what's coming.
WTCutter: Iko crude dropped because dollar strengthened after announcement…plus crude storage up 4.8 million barrels instead of down projected 1.8 million bbls
Iko Ward: WT..I think there is a new pattern in town. Lets see how China weighs in tonight.
Magneticwinner: Iko when do you expect to see the markets drop
Iko Ward: magnetic, starting tomorrow afternoon and then all day Friday right up to 4PM. Unless we RV
Magneticwinner: Iko starting after the closing bell…
Iko Ward: Maybe a hint around 2-3PM
Magneticwinner: Iko so if we RV then they can hide what is going on?
Iko Ward: Mag...yes. Everyone will be happy and none the wiser.
Iko Ward: You can hear a pin drop right now on the intel circuit.
Zebragirl: Iko, methinks everyone is holding their breath.
Iko Ward: Zeebs...I think so too
Elmerf123456: For all those that had a sense of panic because of what the market did today...Don't! We are in a far better spot than you think we are. A lot has transpired since 2:30 est. take a mental pause, relax, give your family a hug and most importantly thank our Creator for the new life in store for you. Our celebratory goal is near finished but our good deads work is only beginning.
Elmerf123456: I am very focused on Friday and Saturday. Believe why your here. Use what you know, demonstrate the same faith that kept you here for it was not in vein. All our signs are all around you. Let's keep it there for now and trust your instincts. There are no coincidences, but there is and always has been a plan and it will show its face sooner than you think IMO.
PlatinumRunway: Actually we are getting closer.The codes are at the bank confirmed. didnt exchange as of yet.
PlatinumRunway: Anyone who had appointment today it is my belief it was for prep… They are getting ready for us so hang in there…… i know its rough for everyone be encouraged.
PlatinumRunway: Wont go into actual rates but i was advised they were on some screens others are placeholders, and this should be a Merry Christmas for Dinar land.
Fancy101: Platinum Did they make you feel that things are closer?
PlatinumRunway: Fancy they want to start exchanges now, we are at the end i truly believe.
PlatinumRunway: Words from my wealth manager and i quote "There is no reason for anyone not to have exchanged before Christmas"….
PlatinumRunway: Please stay grounded I only shared what was personal experience. I do believe we are at the end, just praying it will happen this time.
tlm724 Article: "The International Monetary Fund announces the final touches on the Iraqi economy monitoring program"
"the International Monetary Fund announced that he put the finishing touches on a deal to monitor, evaluate and manage the Iraqi economy"
Thats it, thats the key to what we have been saying about the IMF having the con in Iraq...manage the Iraqi economy...MANAGE! and yesterday we saw the IMF was not pleased one lil bit about Iraq devaluing the dinar!
This is awesome news/confirmation that the IMF has this thingy. so we have the IMF in charge of the economy and a budget passed, pretty dayum good morning if ya ask me.
TD: The HCL and now the IMF 2010 Reforms approved by Congress!!!! I can read and research for myself. This is LARGE!!!!! Folks you had better get ready if you are not already ready. Watch the markets now. Only if Iraq would agree to sign off on the U.S. building 2 military bases in Iraq, so we can tell ISIS to halt and quit pushing this out until they do sign and get the hell out of there. We would reallybe cooking with smoke then!!!!!
Poppy3 ...TARIFFS WILL NOT PRODUCE A DIME OF PROFITS AT THIS RATE...THEY HAVE TRIED TO IMPLEMENT IT SEVERAL TIMES AND FOUND IT COST MORE THAN IT BRINGS IN.
THEY WILL RV BEFORE A TARIFF LAW WILL PRODUCE ANY PROFITS.
Q: [so where do we think we are on the rv before 25 dec 2015?]
firefly : IMO, we are VERY close. The date doesn't matter, what matters is that it has begun!
We can crunch numbers all we want, speculate all we want. Bottom line is, this plan was not designed to fail!
Emailed to Recaps:
Txx Sxxxxxx: Dear Recaps, This looks interesting and could it be one of the Dominos we are looking to fall???? Thanks
Eight Defaults and 180 Years Later, Ecuador to Repay Bondholders
Ecuador is poised to do something it’s never done in its more than 180-year history: repay a bond.
The nation has said repeatedly that it will honor $650 million of foreign debt due Dec. 15 as President Rafael Correa tries to do away with the country’s reputation as a serial defaulter. While Correa himself halted payments on $3.2 billion of debt in 2008 and 2009, saying the securities were illegitimate, bond prices indicate creditors expect the government will follow through this time.
By honoring its obligations, Ecuador has said it can restore investor confidence and lower borrowing costs. Apart from crisis-ridden Venezuela, Ecuador’s bond yields are the highest of any debtor nation in emerging markets. AllianceBernstein LP and Analytica Securities say Correa still has more to do if Ecuador, which has run budget deficits for six straight years and is dependent on oil revenue, wants to return to credit markets at favorable interest rates.
“What’s positive is that Ecuador has a new chance to honor, for the first time, the payment of its bonds,” said Santiago Mosquera, a former Fitch Ratings analyst who is now head of research at Quito-based brokerage Analytica. “But that’s probably not enough to lower rates to what they were in their last bond sale.”
Ecuador last tapped the overseas bond market in May, selling $750 million more of its notes due in 2020 to yield 8.5 percent. Those securities now yield 16.64 percent as of 1:41 p.m. in New York on Thursday as prices have fallen.
Ecuador’s Economic Policy Ministry referred questions to the Finance Ministry, which didn’t respond to telephone or e-mailed requests for comment on its financing plan for 2016 and its bond payment due next month. Those notes traded at 98.75 cents on Thursday, indicating bondholders expect the government to make the payment.
Finance Minister Fausto Herrera and Economic Policy Minister Patricio Rivera told reporters in Quito on Nov. 4 that they’ve been working with credit-rating companies, the International Monetary Fund and foreign investors to help lower the perceived risk of investing in Ecuador.
“By far the most important thing for the country’s risk is that we are going to meet, for the first time in 180 years, the payment for the global 2015s,” Herrera said. “There is a possibility that, if market conditions improve, we could sell bonds to better structure Ecuador’s debt maturities.”
Correa, a 52-year-old former economics professor, won praise from the IMF last month for taking measures to shore up Ecuador’s finances. He’s trimmed government spending, halted some infrastructure investments and cut fuel subsidies this year.
His decision to stop paying foreign debt seven years ago earned the country the distinction of being the most frequent defaulter in Latin America, eclipsing Argentina and Paraguay.
Ecuador first fell into default in 1832, according to the book “Debt Defaults and Lessons from a Decade of Crises” by Federico Sturzenegger, a former secretary of economic policy in Argentina, and Jeromin Zettelmeyer, a former assistant to the Western Hemisphere
Department director at the IMF. At the time, the two-year-old nation was saddled with debts accumulated during its wars of independence. Decades of internal revolt and weak government institutions kept the nation’s early leaders from meeting payments on time, according to university professor Carlos Espinosa’s book "Historia del Ecuador."
Given the country’s legacy, lowering Ecuador’s borrowing costs will take time, said Marco Santamaria, a money manager at AllianceBernstein, which has $27 billion invested in developing nations. The market is still cautious because of the OPEC nation’s dependence on oil, he said. Global prices for crude, which accounted for about half of Ecuador’s export revenue in 2014, have plunged 46 percent in the past year.
Ecuador's sovereign bonds compared to oil prices
“To be able to sell bonds next year, there has to be some credible, multi-year plan for investors to feel comfortable,” Santamaria said from New York. “It’s not something they’re going to be able to do overnight.”