Backdoc: THE FACT THAT THESE NUMBERS ARE BEING ALTERED, AND DOING IT NOW INDICATES URGENCY ON THEIR PART!
THEY ARE CLEARLY BEGINNING TO SHOW THEIR HAND SO TO SPEAK! THIS ACTION TELLS ME THEY ARE IN A HURRY!
WHY? MMMMM COULD IT BE THE RAMADAN IS NIPPING AT THEIR HEELS? HEEEE HEEEEE
NICE WORK TOPSHELF !!!!!! DOC IMO
Backdoc: WE PATIENTLY AWAIT WHAT THE OUTCOME IS WITH GREECE. REALIZE IF GREECE GOES A DOMINO EFFECT WILL BEGIN THAT WILL AFFECT ITALY, SPAIN,ECT. (See article Below)
THIS WOULD BE A TRIGGER MECHANISM TO CHALLENGE THE EURO'S SUSTAINABILITY!!
AS TOPSHELF REMINDED ME THE EURO IS SIMPLY BACKED BY A TREATY NOT REAL ASSETS, THEREFORE IT MAY NOT BE DEFENDED IF THINGS BEGAN TO UNRAVEL! DOC
ThunderHawk: U.S. Urges Greece, Creditors to Strike Debt Deal
Treasury chief Jacob Lew warns against complacency
‘No one should have a false sense of confidence that they know what the risk of a crisis in Greece would be.’—U.S. Treasury chief Jacob Lew
LONDON—U.S. Treasury chief Jacob Lew on Wednesday urged Greece and its creditors to “double down” in their efforts to reach a deal to solve the nation’s debt crisis, saying no one should be complacent about the risks to the world economy from a Greek default and possible exit from the eurozone.
Greece is under time pressure to agree on economic overhauls with its creditors—the rest of the eurozone and the International Monetary Fund—to unlock fresh financing before it defaults on its debts to the IMF.
Backdoc: IF THIS HARD LINE CONTINUES TO BE TAKEN A BLOWUP IS POSSIBLE! JUNE 5TH WILL BE THE SHOWDOWN AT THE NOT SO, OK CORRALE !! (See Article Below)
ThunderHawk : Global Trade Union Slams IMF Over Greece
The IMF is attacked for destroying the Greek economy, workers´s rights and pensions. The International Trade Union Confederation slammed the International Monetary Fund on Wednesday for demanding Greece curtails workers' rights and cut funding for basic social services.
The global union expressed its solidarity with Greece's efforts to rebuild their economy. “The ITUC finds unacceptable that the IMF (...) is pressuring EU lenders not to make loan disbursements unless Greece cuts pensions such that the basic level will be €360 per month, below the subsistence level,” ITUC General Secretary Sharan Burrow said, “With more than a quarter of the labour force out of work, a large share of households have come to rely on pensions as their only stable source of income and will be pushed into poverty if pensions are further reduced.” Greece owes money to the IMF, the European Central Bank and the European Union since the financial institutions lent the country massive bailout funds in 2010 and 2012. Contentious points center around pension and labor reforms, with Greece maintaining it will always prioritize “pensions and salaries” over repaying creditors, who are demanding cuts.
RELATED: Greek Debt Crisis: Is Default or Exit Inevitable? “After five years of destructive austerity and structural adjustment, the IMF and other international lenders should stop their obstructionism, (...) support the Greek people’s efforts to rebuild their economy through policies that give priority to employment creation,” Burrow stated.
“We call on the IMF to desist in its mindless attack on workers’ wages, rights and pensions.” Finance Minister Yanis Varoufak said the European Central Bank will not let Greece default its payment and cause a crisis which could lead to the country leaving the eurozone. In May, the IMF had already let Greece access its special reserve funds to honor its scheduled payment. The finance minister said “a change of currency” was not in Greece's plans but insisted “pensions and salaries were sacred” and that he would “prefer a default with the IMF rather than (a default) on salaries.”
Backdoc: AS THE VND DEVALUES ITS' CURRENCY, IT INCREASES THE PUBLIC DEBT LIMIT. NOW WHAT WOULD HAPPEN IF IT WENT THE OTHER WAY? MMMMM
(See Article Below)
AFTER SEEING SEVERAL ARTICLES LATELY ON VND HAVING A SERIOUS LIQUIDITY CRISIS I ASK YOU, WHO ELSE HAS THE SAME PROBLEM? MMMM
RIGHT THE DINAR! THE SITUATIONS ARE VERY SIMILAR.
HOW DID VIETNAM DECREASE THEIR NOTE COUNT WHILE BEING CONSTANTLY INTERNATIONALLY TRADED? GLAD YOU ASKED. THEY LIKELY DID IT THROUGH CONTRACTS JUST LIKE THE DINAR DID AS IT HAS BEEN RESTORED BEHIND THE CURTAIN, FROM ONE COUNTRYS' CENTRAL BANK TO ANOTHER.
THEY COULD STIPULATE THAT THE CONTRACTS WERE TO BE PAID IN DONG FOR PRODUCTS LIKE RICE BUT BUY WHAT THEY NEED IN DOLLARS.
THIS MIGHT EXPLAIN THE FACT THAT MOST VND DEBT OR DEBT INSTRUMENTS LIKE BONDS HAVE MOSTLY BEEN ERADICATED TO REDUCE THE VND NOTE COUNT!
JUST THE OTHER DAY THEY TOLD US DID THEY NOT, THAT THEIR DEBT IS 80% HELD IN DOLLARS!
DON'T YOU SEE? THEY ARE REDUCING AS MUCH VND OUT OF CIRCULATION DIGITALLY WHILE SAVING THE PAPER FOR THE LAST STAGE OF THE PROCESS. COULD THIS BE WHY IT IS VERY DIFFICULT TO BUY IT FROM THE BANKS NOW?
DON'T FORGET BROKERS LIKE FRANKS' BROKER CAN STILL GET IT FOR YOU! IT JUST SEEMS MORE DIFFICULT TO AQUIRE! THEY MAY BE MUCH FARTHER ALONG THAN FOLKS THINK AND THEY DID IT IN PLAIN SIGHT!
WITH SECRET TRADE DEALS LONG UNDER WAY I SERIOUSLY THINK THEY ARE STRUCTURING THESE AGREEMENTS BETWEEN COUNTRIES TO SUPPORT THE VALUE OF THE VND WHILE PULLING EXCESS DOLLARS OUT OF THE GLOBAL FLOAT CAREFULLY AND GRADUALLY OVER TIME!
REMEMBER THEY ALSO TOLD US THAT 80% OF THEIR CONTRACTS FOR TRADE WILL BE IN DOLLARS! THIS ASSURES A DEMAND FOR THE DOLLAR WHILE VIETNAM CAN CAREFULLY GAURD THEIR NOTE COUNT AND MAINTAIN THE VALUE OF THE DONG! NICE !!
A WIN WIN AS I SEE IT!!
WITHOUT LOTS OF DOLLARS CONTINUING TO MOVE AROUND THE WORLDS ECONOMIES, THE DOLLAR COULD BE DAMAGED. IF ANYTHING, IT LOOKS TO BECOME MUCH STRONGER!
I ALSO LIKE THE FACT THAT QE IN EUROPE IS GIVING THE EMPIRE AN OPPORTUNITY TO RESTRUCTURE BAD DEBTS IN EURO DENOMINATED INSTRUMENTS AS TOPSHELF HAS BEEN TELLING US!! VERY CLEVER!!
BEFORE I LEAVE THESE GLOBAL THOUGHTS, WHAT WOULD HAPPEN TO THE U.S. STOCK MARKET IF THE DOLLAR BECOMES STRONGER?
REALIZE THIS WOULD BE THE OPPOSITE OF THE QE PROCESS WE SAW WHEN THE MARKETS WENT UP. WELL, RIGHT, IT WOULD REPRICE MUCH LOWER.
WHAT IF A GLOBAL EVENT HAPPENED TO MAKE THE DOLLAR EVEN STRONGER? MMMMM WELL, MAYBE WE'LL DISCUSS THAT SOON!
8@8, DOC IMO
ThunderHawk: VIETNAM: No further dong devaluation: Central bank holds firm to exchange rate stabilising plan, ready to sell forex
By Thu Hang, Thanh Nien News
HA NOI - Wednesday, May 27, 2015 06:00Email Print
Economists warn against Vietnam's plan to borrow from forex reserves
Vietnam's public debt is rapidly approaching limit: finance ministry
Vietnam dong devaluation inevitable, good for economy
Vietnam devalues dong for second time in 2015 to boost exports
Photo: Ngoc Thang
The central bank pressed forward with its plan to keep the dong depreciation less than 2 percent for the whole of 2015, a deputy governor said Tuesday.
The State Bank of Vietnam "is ready to sell foreign currency for intervention to keep the exchange rate stable within the band committed at the start of the year", Deputy Governor Nguyen Thi Hong said at a press conference.
Although further dong devaluation will benefit exporters, it would badly affect producers who rely on imported raw materials, she said.
The textile industry, for instance, import 82.5 percent of raw materials, the wood industry, 70 percent and leather and footwear industry, up to 60 percent, according to Hong
A cheaper dong would also increase the country’s public debt, which is approaching the limit set at 65 percent of gross domestic product (GDP), she said.
The central bank, therefore, will continue keeping a close watch on foreign and domestic markets and intervene when necessary to stabilize the exchange rate, Hong said.
SBV on May 7 devalued the dong by 1 percent, setting its reference rate at 21,673 dong a dollar, in an effort to reduce the country's trade deficit, which may reach $3 billion in the first five months.
The dong fell further to 21,860 per dollar on Vietnam's interbank market on Tuesday, down 0.98 percent from 21,645 dong/dollar on May 7.
In January, SBV cut the rate by 1 percent to help stabilize the foreign exchange market.