Jose: whats our next date Oct 1st
Yada: Jose,,expecting it before 10-1-16,,,,Unlike the many, I do not believe there will be any asset backed Chinese currency because there hasnt been one article in the news and THAT would effect the relationships to other banks and THEY are not expressing any concern
Ecubucs: It may be an unpopular belief in this forum but I 100% Believe that this is an Asset Backed GCR occuring with most of the countries in the world revaluing their currencies both up & down. Iraq is the spearhead of this Reset and we are within Days of seeing this BEGIN to occur! 9/29-10/1. Again, just my belief...
SassyD: How Much Income Puts You in the Top 1%, 5%, 10%? -- September 15, 2016 -- http://www.investopedia.com/news/how-much-income-puts-you-top-1-5-10/
SassyD: How Wall St. Insiders Got Away With the Financial Collapse -- May 09, 2016 -- http://www.foxbusiness.com/politics/2016/05/09/phil-angelides-how-wall-st-insiders-got-away-with-financial-collapse.html
SassyD: Ex-HBOS Bankers Accused of Getting Travel, Escorts in Fraud -- Brit Bankers Busted For $300 Million Fraud Tied To Hookers & Blow -- Sep 26, 2016 -- http://www.bloomberg.com/news/articles/2016-09-26/ex-hbos-bankers-accused-of-using-escorts-in-317-million-fraud
Tex20071: Sassy...WOW....all the Rats running out of the woodwork..
SassyD: TEX20071.. Looks like some "House Cleaning" we've heard about !!!
Fireball92: per Wicki... HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group….. SO? Do ya still want LLoyds to insure yer Bank acct?
SassyD: Commerzbank to cut 9,000 jobs in restructuring -Handelsblatt -- Sep 26, 2016 -- Germany "Other" Bank: Commerzbank To Fire 9,000, 18% Of Its Entire Workforce -- http://www.reuters.com/article/commerzbank-jobs-idUSL8N1C24WI?feedType=RSS
SassyD: What are the benefits of adding a Transfer on Death (TOD) Beneficiary Designation to a joint brokerage account? --- http://www.investopedia.com/advisor-network/questions/what-are-benefits-adding-transfer-death-tod-beneficiary-designation-joint/
Clee: Got Zim? Listen to the RealTruthCall2.com The Friday RTC2 with Yoseph was very good for exchange of the Zim. It is worth a listen. It seems incredible that the "change of face" of the new bankers from the previous crooks could take place in such a flash.
The Yoseph part begins at the 91 mark of the call
Angel: Bank of China’s New York branch picked as yuan clearing bank in the US
PUBLISHED : Wednesday, 21 September, 2016, 11:15am Catherine Wong
Bank of China Ltd’s New York branch has been designed as the first clearing bank in the US for handling renminbi transactions, part of the Chinese government’s move to expand the worldwide infrastructure for making the yuan a global currency.
The bank, China’s largest overseas lender, is the biggest beneficiary of the yuan’s aspiration as global currency, receiving 11 yuan-clearing mandates outside the mainland.
US banks are also welcomed to apply to be clearing banks for transactions in renminbi, Chinese Premier Li Keqiang said during a dinner hosted by the Economic Club of New York held in the city.
“We also welcome banks in New York that meet the requirements to become a clearing bank for renminbi,” Li said. “I’m sure that will further boost our cooperation.”
The yuan is scheduled to become the fifth currency to be included in the International Monetary Fund’s basket of Special Drawing Rights (SDRs) on October 1.
China’s government considers the SDR inclusion as a major vindication of its economic policies and a milestone in the internationalisation of the yuan.
To ensure a smooth inclusion in the SDR, the People’s Bank of China has raised the borrowing cost in Hong Kong -- the word’s leading offshore market for trading the yuan -- to an eight-month high this week, making it more costly for traders to bet against the Chinese currency.
The move underscores the Chinese central bank’s resolve to hold the yuan steady against major currencies during Li’s New York visit, and ahead of its SDR inclusion.
Li addressed US concerns about China manipulating its currency, saying there was no basis for continued yuan depreciation and that China would not use devaluation of its currency to boost exports.
The Industrial & Commercial Bank of China Ltd. is the yuan clearing bank in Doha, Luxembourg, Singapore and Toronto. China Construction Bank serves as the yuan clearance lender in London and Zurich while the Bank of Communications serves Seoul.
He also touched on the progress on the US-China bilateral investment treaty (BIT) as he said China had put in strong effort by putting forward revised offers three times over the last two years.
“We are now waiting for a response from the US,” Li said, as the two countries are now engaged in the 29th round of BIT negotiations.
“As long as both sides hold a pragmatic and flexible attitude, I’m sure we will be able to reach a high standard and mutually beneficial BIT.”
This article appeared in the South China Morning Post print edition as:
BOC named first yuan clearing bank in u.s.
Emailed to Recaps:
Fisher : want an update? Can't put it too exactly or it could spoil the plan, but, here goes
Dunford allegedly asked for 25 hours last night, and got it
UN General assembly members got word on the release today at noon
The debate starts at 9PM EDT
Market started tanking right at the closing bell
MIGHT be an interesting evening from all indications
As always, we take the news with a grain of salt, but the salt shaker is almost empty and the clock continues to click down
Keep an eye out for something , anything, from other sources, like Yosef
SthTxSam : likeeeee the Tetelestai letter Fisher??
Fisher : no, that will come when it is released, but someone may put out something similar to what I just told you….Bruce and Yosef are the most likely to say something,
if anyone sees anything, post it and put a link
Oh, and a tippy top Naval officer says pretty much the same, it's a GO
Canes2017 : wing it had a soil preservation call today
Musiclady1 : Art on Gerry's call said today....... "the ZIM is gonna be turned loose tomorrow"......
FaithPrevails: Can anyone confirm whether Iraq is on a Oct fiscal year ?
Blinkster: IMO I think Frank has stated more than once during recent CC's that Iraq can/will modify their fiscal year to be in parallel with the US fiscal year that starts on Oct 1... just how I heard it.
James49: Its my understanding that for the first time in history Iraq will join the fiscal year with us .. Imo
Economic reform in Iraq (5-5)
Walkingstick: The government reconsider its financial management
September 26, 2016
The government plans by seeking to pass the Financial Management Act, which was drafted in accordance with the visions of the IMF and World Bank, to reconsider Balyatea in dealing with the financial situation.
The Economic Adviser to the Prime Minister Haider al-Abadi, the appearance of Mohammed Saleh, in a press statement on Monday, the Financial Administration Act in Iraq has historical depth and back approval for the first time in 1941, and that several alterations in the law over the previous periods until it is disabled in 2003 after the "fall of the former regime."
Saleh pointed out that the former civil administrator Paul Bremer, issued bears the number 95 for the year 2004 a decision to deal with the financial management and public debt solution rather than the previous law.
And cons of the decision, Saleh stressed that the decision "is not commensurate with the current situation", which requires legislative intervention to re-consider it, especially since most of our revenues in the forefront of centralized fiscal oil revenues. He argued that the IMF and the World Bank to monitor the negatives in Bremer's decision relating to corporate governance and transparency, and how to make decisions and presentation of data.
Saleh also reported that it comes in conjunction with the acquisition of government activity to 67% of GDP, which is high rates, indicating that these drawbacks have encouraged the government to submit a new project for the Law of financial management in line with the aspirations of the two international institutions and comparable to international standards of financial management.
He continued that "the information available to us now that the Finance Committee in the House of Representatives is very interactive with the project to be voted as soon Given the importance of the issuance of such a law of the Iraqi financial system."
The many experts directed harsh criticism of the Iraqi government, accusing it of failing to deal with the economic and financial aspects, and the enemy of the currently approved vehicles are old and where mistakes requires reconsideration for Iraq to rise to the ranks of developed countries at the financial system level.
Iraq is going through a major financial and economic crisis, due to lower global oil prices, and its impact on Iraq's budget for the years 2015 and 2016, with a budget value for the year 2016, about 105.8 trillion dinars, or about $ 95 billion, and a projected deficit of about 24 trillion dinars, the equivalent of about 20.5 Billion dollar.
It depends on the sale of Iraq's oil revenues to cover about 95 percent of the country's expenses, and the oil prices have tumbled since the year 2014 from around $ 100 per barrel to less than $ 40.