Beams: Everything and Everyone I speak to is excited .. and is saying we are in a very good place.
Piper19: Today may be the beginning of the big market crash....It has begun...Japanese Yen +1.30% 08/16-07:20 99.9450 0.0100 135235.58 -317.75 -0.23%
NIKKEI 16,596.51 -273.05
The YEn is down 317pips
Lostnq8: stocks are down world wide - oil is up over 45 gold and silver are up - good morning family
MGR: Japan is very invested in the Dow when they go xown the will take us with them. The Nikkei is down 273.05.
Lostnq8: mgr on the new cnbc home page one article was talking about how the EPA was manipulating stocks - we only see what the media wants us to see - there is so much corruption out there
MGR: Lost, I think their days are numbered. They will fight to the bitter end and I hope that is soon. Yes things are likely much worse that what we see.
Piper19: Yen is down and dropping They will be bankrupt soon
Ral: let me ask yall... do yall think Mosul is fully liberated?
Lostnq8: I think Iraq is the side show to keep you off the man behind the curtain
Ral: Im thinking that UNTIL ISIS is NOT in control of any CITIZENS in Iraq they will not R V till ISIS is GONE , because they dont want ISIS to get a hold of any revalued Dinar? IMO
MDS1965: "GOOD THINGS COME TO PEOPLE WHO WAIT, BUT BETTER THINGS COME TO THOSE WHO GO OUT AND GET THEM!" (ZIG ZIGLAR)
"HOPE IS THE POWER THAT GIVES A PERSON THE CONFIDENCE TO STEP OUT AND TRY." (ZIG ZIGLAR)
Taxmom: Entering Perfect Storm of Every Facet of our Lives-Bill Holter
Entering Perfect Storm of Every Facet of our Lives-Bill Holter
By Greg Hunter's USAWatchdog.com
Financial writer Bill Holter warns the world faces multiple problems, not just one. Holter explains, "We are entering a perfect storm of every facet of our lives. This is not just financial. This is social, and it has to do with the breakdown of the rule of law.
In the U.S. and globally, you can look at this as a breakdown of morals. Society is breaking down. You've got false economic numbers supported by the press that's telling the people that all is well. You are seeing, for lack of a better term, revolt all over the world.
Brexit was a revolt. Donald Trump running for President is a revolt. You are seeing people get truly pissed off because they know something is wrong, and it's a worldwide phenomenon."
So, is the world headed for a "Mad Max" future? Holter says, "I think the chances are better than a coin flip that we have societal breakdown. If you are asking should you hold cash, my opinion is yeah, you should have some cash and very little bank balances because that is going to go away.
You are going to have to have some physical cash, which will actually . . . after the system shuts down, become more valuable. The dollar will purchase more real goods for several weeks simply because if all the banks are closed and nobody has cash, then cash is scarce. That will work up until, all of a sudden, the light switch gets flipped and people understand that cash has no real value.
People are not going to trade real eggs or real tomatoes for dollars. They will say I want something real for something real. That's where your dollar collapses."
A possible trigger comes in late September, according to Holter. Holter contends, "There is an IMF meeting. I believe you are going to see the Yuan become a fully functioning part of the SDR (IMF currency). That's a big step backward for the dollar. . . . Whatever portion the Yuan takes, whatever slice of the pie the yean takes, the other currencies lose. I think predominantly it will come from the dollar."
On gold, the math is simple. Holter says, "The punch line to this is the system has never been risker and more leveraged than it is today. Yet, the price or the cost of insurance (gold and silver) has never been cheaper than it is today with the exception of late last year in October, November and December of 2015."
Holter goes on to point out, "They have purposely diluted the price of gold in order to portray a strong dollar. . . . The reason they need to portray a strong dollar is to continue confidence in the system. It allows dollars to continue to be accepted. It also allows the U.S. Treasury to turn around and continue to borrow. That's not working so well because the Federal Reserve has had to step up and buy major portions of auctions."
How does it end? Holter says, "I have said many times that we are going to have a reset of the system. All currencies, all bonds, all interest rates, stocks, commodities, gold, silver, etcetera. This is a very, very dangerous time."
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com.
Starchild: Japanese Stocks Tumble As USDJPY Plunges To Post-Brexit Lows
Starchild: "It’s Surreal" - Negative Yielding Debt Rises To Record $13.4 Trillion
Cleitus: Thanks Frank for another great cc. Although the cc was not as long as the others there were nuggets of GOLD in what Frank had to say.
There was a slip of the tongue towards the end of the cc that perked my ears. Looking at my notes for September it confirmed what I suspected, wrote and what the Three Musketeers and MM wrote about not long ago. On September 3rd, the new IEX digital platform is to be launched. According to my notes it is, "the launch of a new multilateral system for the SDR. But, with a new rate." I'm not saying this is what Frank was eluding to but, still very interesting.
Anyone..., please feel free to correct me if I'm wrong.
Frank26: No need…….(smile)
Samson: Iran, China ink transport MoU
silk Mon 15 August 2016
TEHRAN, Aug. 15 (MNA) – An RMTO official, while pointing to Iran’s role in the Silk Road, said a cooperation agreement in the field of transport has been sealed between Iran and China.
Director General of the Transit and Border Terminals Bureau of Iran's Road Maintenance and Transportation Organization (RMTO) Mohammad Javad Atrchian referred to the holding of Silk Road Conferences saying “the ancient road assumes considerable significance as a route for transit of goods and passengers; moreover, transfer of technology, services, culture as well as regional cooperation through the path has always been emphasized.”
He noted that Iran possesses numerous transit advantages including its unique position in transit corridors as well as the role of free zones in trade development which remain as remarkable aspects at regional and international levels.
Atrchian, while pointing to existing infrastructure in road, rail, sea and air transport of the country, added “during the Silk Road conference, a bilateral cooperation agreement was inked among Chinese and Paki representatives and Iran-China Chamber of Commerce.”
The official noted that Iran has voiced readiness to host the Silk Road summit in the year 2018 while the 2017 edition will be held in Pakistan.
All member countries reaffirmed their role in economic transactions and infrastructure development, said Atrchian concluding “these features have been proposed as suitable means of increasing multilateral and bilateral cooperation between the countries.”
Tishwash: SOME INTERNATIONAL COMPANIES CAUTIOUSLY RETURN TO IRAQ
After years of turmoil, the country appears to be stabilizing, attracting deal-scouting executives
Iraq, August 16, 2016
BASRA, Iraq—For years, Iraq has careened from crisis to crisis. Now, some foreign companies see opportunity as the turmoil appears to be subsiding.
After disruptive anti-corruption protests earlier this year, a degree of stability has returned to parliament. Weak oil prices that sapped its economy have staged a fragile recovery. And Iraqi forces have beaten back Islamic State to just a few pockets in the country, most recently driving them from Fallujah and Ramadi.
Since then, interest in the country from serious investors has increased, said Mudher Salih, a former senior central bank official who advises Prime Minister Haider al-Abadi on financial policy. “After Fallujah and Ramadi everything changed,” he said.
Part of that change is foreign capital, and deal-scouting executives are cautiously returning to Iraq and improving its business outlook.
In January, General Electric signed contracts worth $1 billion to upgrade Iraq’s electricity infrastructure, the company’s largest power deal in the country since 2008. GE, which has been operating in the country for years, said it “continues to see growth opportunities going forward.”
In April, the World Bank’s International Finance Corporation arranged a $375 million financing package for an Iraqi power company, backed by Lebanon’s Bank Audi—the bank’s first major investment in the country. The deal is a sign of the IFC’s increased support for Iraq in the 12 months to June 2016, which was accompanied by an “increase in interest by investors from the region,” said Mouayed Makhlouf, IFC Director for the Middle East and North Africa. Bank Audi declined to comment.
In a sign that some companies are betting that even tourism could begin to pick up, Wyndham Hotel Group announced plans to open two new hotels in Najaf, a pilgrimage destination for Shiite Muslims, by 2018.
“It takes a long time to develop new hotels so you can’t wait until the moment before the thing is in all the travel magazines,” said Daniel Ruff, Wyndham’s president for Europe, the Middle East and Africa. “Once you are the first mover you see some opportunities emerging quickly and growth can be really fantastic.”
International law firm Eversheds says it is working on two deals to acquire assets in the country—the first Iraqi acquisitions the firm has handled in more than 12 months.
Another big reason for optimism: the International Monetary Fund.
Last month, it approved a $5.3 billion bailout for the cash-strapped country, helping to plug its budget shortfall and restore investor confidence. The deal requires Iraq to undertake significant economic changes, cutting spending and tackling corruption, and paves the way for additional assistance.
Driven by higher oil production, economic reforms and diminished threat from the militant group, the World Bank expects Iraq’s economy to grow about 7% this year.
Foreign direct investment in Iraq—primarily a function of spending by international oil companies—could increase by around 20% this year to nearly $4 billion, according to estimates by Astrit Sulstarova, head of the investment trends and data unit at the United Nations Conference on Trade and Development. In 2015—a year of military uncertainty and falling oil prices—FDI crashed 30%.
Iraq is still in a delicate situation. The price of oil—the main source of government revenue—remains under pressure. The country’s budget deficit ballooned to 14.3% of GDP last year and is expected to be closer to 15% in 2016.
Meanwhile, a mounting humanitarian crisis threatens to overwhelm the government, adding to the pressure on spending. The U.N. estimates more than three million people already have been displaced by the war against Islamic State in the country and millions more could be affected by a coming campaign for the extremists’ Iraqi capital of Mosul and ongoing offensive.
And anti-corruption protests have dogged and disrupted the Iraqi government, and could resurface.
The hurdles facing companies also remain significant. A stifling bureaucracy and rampant corruption make for a challenging environment. Simply starting a business requires about 10 different procedures and takes roughly a month, according to the World Bank. It is little surprise, then, that Iraq ranks 161 out of 189 countries in the World Bank’s 2016 ease of doing business rankings.
The Iraqi government in particular, makes a difficult business partner. Mohammed Al Khasaky, chairman of Iraq’s AKG Engineering Construction & Trading Group described working with the government as “impossible.” His company, like many others, hasn’t been paid in more than a year.
Still, Mr. Khasaky is eager to continue to operate in Iraq, provided he can avoid relying on government money. “Any opportunity we are ready to work if the money is coming from outside the Iraqi government,” he said.
Sami al-Araji, chairman of Iraq’s National Investment Commission, acknowledged the challenges facing businesses, but said it is looking at “all means and ways to try to alleviate the difficulties of the companies.”
Activity in the country’s oil sector is tentatively improving and the government is working to build interest in underdeveloped oil fields and major infrastructure projects.
According to Iraqi officials, Exxon Mobil Corp. and China’s state-controlled PetroChina Co. are in talks to help boost production from two of the country’s smaller southern oil fields. Exxon declined to comment and PetroChina didn’t respond to a request for comment.
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