Thoughts from sczin11:
What to believe...and what not to believe!
We read, we talk, we ponder, we dream...we hope to see progress...and every time we think we see motion in a positive direction, either it is debunked by something new, proven false, or seemingly un-confirmed!
Case in point most recently... Baghdad sends $420 million dollars to Kurds...490 billion dinars...4-5 days later, $250 million dollars is stated...and implied, not even there yet...
For some strange reason, it appears one hand doesn't know what the other is saying or doing...or on purpose, they choose to placate their people, and attempt to misguide the rest of the world...
What we do know is very telling, however... They have a new government, one that believes in the democratic process, one that wants to show the world, the real Iraq... The new Iraq... The wealthy, powerful, sovereign, caring country in the middle east.
They have stated they want full accession to the World Trade Organization...we see progress there, with a recent update on their web site...
They have stated they want the dinar to be their sole currency...they are implementing changes to the economy and the private sector...
They have upgraded their banking system, checks and balances, anti -money laundering controls, counterfeiting preventions, electronic techniques, high security featured notes, etc...
Judicial intervention is rampant...seeking to take down all involved in corruption, now and from the past...Many foreign companies are coming into iraq, opening consulates and embassies, bringing business, and offering loans and credit terms...
International banks opening in iraq? Why? Do you have any idea of the cost, to set up a bank in a new, foreign location?
Here is what we do know...we own the currency of a country... Not just any country, a country that is being sought after, defended, and guided, by most of the International world...
To me that is very telling, i hope it is to you as well!
Pebbles: Copied From Twitter:
JC @JCR3758 · The signs are there. No need to discuss date/rates. Just be alert and ready. As always, stay grounded!
@JCR3758 It appears that things are lining up that are needed to release the int'l rates. It is advantageous to all to facilitate the process now.
tman23 ...I am looking to see what takes place before April 2...because it starts a new quarter...and I do not believe they will RV in the middle of a quarter...They have said as much in past articles (lift the zeros).
GatorGuy: http://iraqidinarchat.net/?p=34128 Central Bank imposes a program to determine the tax rates and customs of goods imported and private banks criticized
GatorGuy: http://iraqidinarchat.net/?p=34126 Abadi emphasizes the need to develop to control the Iraqi dinar exchange rate mechanisms
GatorGuy: http://iraqidinarchat.net/?p=34114 Financial Kurdistan announce the arrival of the amount of 490 billion dinars to the region
MDJ: G T March 23, 2015 at 5:24pm OK Ladies & Gentlemen...... I've Been ADVISED & NOTIFIED by Someone That I HAVEN'T HEARD FROM IN MORE THAN 6 MONTHS (Because he'd Been "HOODWINKED" by his Intel 3 or 4 Times)...Left me a VOICEMAIL!!! His QUOTE......."The 757 IS CONTACTING THE CONTROL TOWER FOR LANDING" That's All I Know.....That's ALL HE LEFT!!! Thought I'd Share it!!!
KH: mdj - I've been told something similiar - if not a different metaphor.
[alabamagal] each day we get closer and closer..
[bobrt] alabamagal someday we’ll be looking back
[alabamagal] bobrt for so long there was no movement going on at all.. and now, everyday we hear things are happening, laws are being passed and bills are being voted and accepted...
[msjeta1] you also have the beginning of the 2nd quarter starting on the 1st also so many factors coming into play jmo
Monday Night KTFA CC: Approx. 92 minutes long.
7 pm Bill and Frank Show update.
7:30 pm INTEL.
8 pm A and CBI Meeting.
8:30 pm End.
PLAYBACK # : 760.569.7699 PIN: 156996#
DAK » March 23rd, 2015, 7:14 pm
These European sectors may benefit most from a falling dollar
Published: Mar 23, 2015 6:55 p.m. ET
LONDON (MarketWatch) — A pause in the dollar’s rapid acceleration against the euro could threaten exporters’ leadership of the rally in European stocks, J.P. Morgan Cazenove analysts said Monday in a research note.
It is likely that domestic-oriented stocks could start outperforming European exporters, particularly auto makers. Those companies have been big beneficiaries of the euro’s EURUSD, +0.10% drop close to parity against the dollar, as well as the slide in oil prices.
Commodities, particularly oil stocks, “should start faring better” if the dollar continues to decline, the analysts said. The analysts said energy stocks were one of the few “value sectors,” and reiterated their recent upgrade of the sector to overweight. “The cuts to energy earnings projections appear to have overshot the fall in the oil price,” they said.
The ICE dollar index DXY, +0.00% a measure of the greenback’s strength against a basket of six rival currencies, has surged nearly 8% this year. But recently the dollar has tumbled as traders bet the Federal Reserve will hold off on raising interest rates until at least September.
The luxury-sector also was “a huge beneficiary of the currency” move, but J.P. Morgan is now cutting its view on the sector to neutral from overweight, adding that sales of luxury goods in the key Hong Kong market “are weakening again.”
In line with that, J.P. Morgan reduced its ratings on LVMH Moët Hennessy Louis Vuitton SE MC, -2.81% and Christian Dior SE CDI, -2.83% to neutral from overweight.
Italy, in particular, could start outperforming core European markets, such as Germany, they said. Germany’s export-heavy DAX 30 DAX, -1.19% index has leapt more than 20% this year, aided by the euro’s fall. But it has trimmed gains in recent sessions.
Italy’s FTSE MIB FTSEMIB, -0.52% is up 21% so far this year.
DAK » March 23rd, 2015, Bank’s bad debt: easier bought than sold
Last update 08:00 | 23/03/2015
VietNamNet Bridge - The State Bank of Vietnam (SBV) has released an ultimatum for commercial banks that they must sell all their bad debts by the end of the third quarter of 2015.
Analysts said “not many things have been done” by the Vietnam Asset Management Company (VAMC), which is in charge of buying debt.
However, they said VAMC’s process of buying bad debts from commercial banks would proceed more quickly with many new regulations and the SBV’s strong determination to settle bad debts.
SBV has asked commercial banks to sell at least 75 percent of bad debts by the end of the second quarter, and 100 percent by the end of the third quarter.
The amount of the bad debts banks have to sell will be set by the central bank.
Banks, in fact, have not neglected their task of clearing bad debts. Circular No 36 stipulates that only banks with a bad-debt ratio below 3 percent are eligible to provide credit and buy shares from other credit institutions.
Banks with high bad-debt ratios also face restrictions in opening new branches and providing new loans.
A report shows that VAMC has bought VND137 trillion worth of principal at VND108 trillion paid in special bonds.
It has permission to issue VND80 billion worth of special bonds this year, while planning to buy VND80-100 trillion worth of debts.
Of the VND137 trillion worth of bad debts purchased, only VND5.1 trillion have been settled through compulsory sale and other modes.
Nguyen Duc Kien, deputy chair of the Economics Committee, said that VAMC bought bad debts and then “put it over there”, because it does not know what to do with the debts.
Agribank’s loan worth VND400 billion provided to a three-star hotel developer in Bac Ninh province became a non-performing loan as the developer could not pay the debt.
Agribank sold the hotel to VAMC at VND360 billion, a very high price compared with the market price, estimated at VND200 billion.
However, VAMC cannot sell the hotel at VND200 billion because current laws do not allow it do this.
As such, Kien concluded, the only thing VAMC can do is to keep the hotel for five years before giving it back to the bank.
Dr. Can Van Luc from BIDV said a big gap exists between the price at which VAMC buys debts – equivalent to 80 percent of the debt value, and the price at which VAMC can sell debts – equivalent to 40-50 percent of the debt value.