BACKDOC: GOOD EVENING FAMILY!
THIS IS BUT ONE OF MANY ARTICLES THAT SEEM TO BE SURFACING ON THE FINANCIAL STAGE THIS WEEK. WITH ALL THAT I’VE READ I FEEL THERE IS SOMETHING BIG ABOUT TO HAPPEN SOON!
WHEN GOLDMAN SACHS SAYS THEY ARE DOING A U-TURN ON THEIR TOP 5 INVESTMENTS FOR THE YEAR SOMETHING IS WRONG! WHAT IS GOING ON THIS WEEK? MMMM
TODAY THE NARRATIVE CONTINUES ON OIL DE-PEGGING FROM THE DOLLAR!
TODAY THE MARKET GOES DOWN WHILE OIL GETS KILLED!
SEEMS TO MEAN SOMETHING HAS NOW HAPPENED TO BREAK OIL FROM THE DOLLAR THAT THEY STARTED TEACHING THE WORLD LAST WEDNESDAY!
WE WERE LISTENING!
WE KNOW THAT CHINA IS DOWN FOR THIS WHOLE WEEK AS THEY BEGIN THEIR NEW YEAR. WITH DISCUSSION SO LONG ABOUT THEM DEVALUING THEIR CURRENCY AND TALK OF THEM DE-PEGGING FROM THE DOLLAR,
I AM VERY ANXIOUS TO SEE WHETHER A SERIOUS MARKET MOVING EVENT WILL HAPPEN WHEN CHINA RETURNS TO ACTION IN ITS MARKETS!
IF THEY DO DE-PEG IT WILL CONTRIBUTE TO THIS DEPEG PROCESS BUT THE LINCHPIN IS SAUDI ARABIA!
IF THEY DE-PEG THE NARRATIVE WOULD BE COMPLETE. S.A. CAN’T JUST WAIT AROUND NOT TRADING THEIR CURRENCY FOR EVER. WERE THEY WAITING FOR THIS WEEK FOR CHINA TO BE OFF A WEEK?
CAN YOU IMAGINE IRAN HAVING A CURRENCY COMPATIBLE WITH IRAQ AND KUWAIT AND S.A. BEING PEGGED TO A FAILING DE-DOLLARIZING DOLLAR?
NOPE!
THE GOLDEN TRIANGLE (CHINA, RUSSIA, IRAN), ALONE WILL PUT A SERIOUS HURT ON THE DOLLAR!
I SAY SOMETHING IS GOING ON BEHIND OZ’S CURTAIN THIS WEEK! I CAN’T BELIEVE HE DIDN’T INVITE ME THIS TIME! I’M OFFENDED! HEE HEE
8@8, DOC IMO
Thunderhawk: Backdoc Alert
Goldman: Systemic risks for markets are ‘stirring’
Fears of another liquidity shock in the European banking system have gripped the markets this week, with the price of insurance for European bank debt ballooning as market confidence in the region’s lenders fades rapidly.
Credit markets are “clearly taking note of the systemic risk”, but European banks’ access to capital and the short-term funding pressures they are tackling are “far less critical” than what lenders faced during the European sovereign debt crisis seven years ago, Goldman Sachs analysts said on Tuesday.
“We understand why markets might worry. Following the global financial crisis, European banks did not de-lever by nearly as much as U.S. banks. Moreover, to meet rising capital requirements, many European banks were planning to rely on retained earnings,” said head of global credit strategy at Goldman Charles Himmelberg, in a note to clients on Tuesday.
Bank share prices have faced a dreadful start to the year, with major lenders on both sides of the Atlantic seeing average falls of around 25 percent.
Deutsche Bank and Unicredit shares are both down around 40 percent this year, after fears about the banks’ capability of meeting their liabilities to investors.
“Credit markets are clearly taking note of the systemic risk, and it is certainly unwise to minimize such risks since systemic fears, once in place, can be self-fulfilling and difficult to reverse,” Himmelberg added.
“But we see many offsetting considerations. For one, the ‘capital-raising’ pressures currently facing European banks are far less critical than the short-term funding pressures faced during the European sovereign crisis. European banks have ample access to short-term liquidity via balance sheet liquidity, money markets, deposits, and European Central Bank backstop facilities such as the Long Term Refnincing Operation (LTRO), Targeted-LTRO, Emergency Liquidity Assistance (ELA),” Himmelberg said .
Deutsche Bank co-CEO John Cryan rushed Tuesday to reassure investors and staff on the bank’s stability, saying that the lender remained “absolutely rock-solid” and that he did not share the market’s concern over the adequacy of its balance sheet.
Deutsche Bank had already stressed Monday that it had “sufficient” reserves to service its so-called tier 1 debts, or its most junior bonds
But this did not stop the cost of insuring the debt of Deutsche Bank by using credit default swaps (CDS) from spiking, widening further than at any point during the financial crisis in 2008.
While elevated, financial credit spreads are also “far from distressed levels”, but “the re-introduction of systemic risk premia would materially erode the outlook for credit,” Himmelberg added.
Goldman also noted that heightened volatility had forced the bank out of a number of its “Top Trade” recommendations including plays on 5-year Italian and German sovereign bonds and its suggestion to be long, or bet on gains in U.S. banks vs. the S&P 500.
http://www.cnbc.com/2016/02/09/goldman- … rring.html
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BACKDOC: BANKS ARE IN THE KITCHEN AND THEY ARE FEELING THE HEAT!
CHARGING DEPOSITORS INTEREST RATES JUST TO HAVE THEIR MONEY DEPOSITED WILL ONLY LEAD TO DISTRUST OF BANKS AND CREATE STRATEGIES OF WAYS TO HOLD ASSETS OUTSIDE THEIR ARENA!
ONCE IT GETS WORSE THEY WILL START DOING BAILINS NEXT!
OUR JOB SHOULD BE TO STAY SECURITIZED FOR SURE! THE DIINAR YOU HOLD IS JUST THAT! JUST BE SURE YOU KNOW WHERE YOU ARE GOING BEFORE YOU LEAVE!
AN OLD TRADER SAID: ” KNOW YOUR EXIT BEFORE YOUR ENTRANCE” OUR EXIT NEEDS SECURITIZED!
DOC IMO
Thunderhawk: Backdoc Alert
World’s Negative-Yielding Bond Pile Tops $7 Trillion: Chart
More than $7 trillion of government bonds offered yields below zero globally as of Monday, making up about 29 percent of the Bloomberg Global Developed Sovereign Bond Index. The total is poised to swell further after Japan’s 10-year yield went below zero for the first time on record on Tuesday, as central-bank easing policies push borrowing costs to new depths. A negative yield means investors who buy the debt now and hold to maturity will receive less than they paid.
http://www.bloomberg.com/news/articles/ … lion-chart
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Mountainman: PANIC….Is an Understatement…….CHINA has Positioned Themselves w/Others….Than the USD…..That Is…..So Depegging as Doc has Unveiled Mandates this Bank Disarray/PANIC…….But Many can’t WAIT for that BASKET to STABILIZE the MARKETS as The Global Playing Field…..Levels Out…IMO…..
In other WORDS the US Dollar Value is VALUELESS w/out A DEMAND for it…..And In order for The NEW GLOBAL REALITY to UNVEIL itself for ALL to Gain from…….The FIAT has to go to the JUNKYARD…..T.H. and PAPPA J say bring Out That SHINY NEW CADILLAC…..They want to SHOW the NEW LEATHER SEATS….LOL…Blessings,Mountainman
BACKDOC: THE FED MAY JUST HAVE TO RAISE RATES DUE TO THE PICKLE THEY ARE IN! THE BANKS ARE IN TROUBLE AND SO ARE MARKETS!
DOC IMO
Thunderhawk: Backdoc Alert
From ZIRP to NIRP: What’s the Fed’s next move?
Negative interest rates in the U.S. may seem like a far-fetched idea, but the Federal Reserve is telling banks to prepare, just in case.
For the first time ever, the governing agency and U.S. central bank is requiring banks to include, in a round of stress tests commencing this year, to prepare for the possibility of negatively yielding Treasury rates. The scenario is purely hypothetical and not a forecast, according to a Jan. 28 Fed news release . However, the development is part of a larger scenario of a world where zero rates are morphing into negative rates.
This is how beggar-thy-neighbor monetary policies work, and perhaps why they ultimately fail.
One nation mired in an economic slump decides that the best way out is to devalue its currency, cheapening its exports and thus making them more attractive in countries that have higher-yielding currencies and, consequently, more buying power.
Seeing the success that country has, another seeks to emulate. And then another. And another. And another. In order to stay ahead of the game, central banks keep devaluing until there’s nothing left, tangibly at least, to devalue, and negative interest rates come into play.
Pretty soon you have nearly a third of all sovereign debt holding negative yields. In turn, what seemed like a powerful tool to stimulate lending and export-led economic growth becomes a toothless tiger that global central banks continue to deploy, the latest being in Japan. Suddenly, zero interest rate policy, or ZIRP, has morphed into negative interest rate policy, or NIRP.
This is no dystopian hypothetical. This is what central banking has become in a global economy beset by meager growth.
Worries are growing that the Federal Reserve soon could bring NIRP to U.S. rates. Japan went to NIRP last week, and the yield on the 10-year Japanese government bond went negative overnight Monday for the first time ever.
“It appears that NIRP is becoming the main policy tool for a number of major central banks as they battle falling inflation, rising currencies and economic weakness,” Jeffrey Kleintop, chief global investment strategist at Charles Schwab, said in an analysis. “The effectiveness of slightly negative interest rates is far from assured, and increasingly negative interest rates may not just weigh more heavily on the stock market, but on drivers of economic growth as well.”
Indeed, ZIRP seemed to pull stock markets higher, but the spreading of NIRP has coincided with a sharp global equity decline, particularly in financial stocks.
The Fed’s chances of going to NIRP seem, at least now, to be slim. Its policymaking arm, the Federal Open Market Committee, just hiked its interest target in December for the first time in nine years, so changing now would seem like a stunning retreat.
Yet several high-ranking officials recently have paid at least lip service to the idea.
In a speech last week, Fed Vice Chair Stanley Fischer said Europe’s experiment with negative rates is “working better than I expected,” raising speculation that should things deteriorate the U.S. central bank would consider going negative.
Negative rates in the U.S. would begin with the interest paid on excess reserves that banks store at the Fed, a number currently at $2.15 trillion that earns 0.5 percent interest. The idea would be to charge banks to store reserves, making the cost prohibitive to let the money lie fallow there and push it into the broader economy through lending, thus stimulating growth.
It’s an idea that works in theory and, for a period, worked in practice for the four European governments that tried it. However, there are problems.
One is that banks would need to make up that lost revenue someplace and instead of lending could amp up fees and rates. Another is that the more countries that join in, the less effective one nation’s low or negative interest rates are.
Finally, in a problem that would be especially acute in the U.S., negative rates could send a jolt through the $2.75 trillion money market space and, some fear, lead to a “break the buck” scenario that occurred during the financial crisis when one large money market fund couldn’t return par on its investments.
“Things would have to get truly desperate to go to negative rates,” Kim Rupert, managing director of global fixed income at Action Economics, said in an interview. “Our money markets are obviously the biggest in the world and have a lot of commitments tied to them and the liquidity for a lot of our economy. Jeopardizing the money markets would be too dramatic an effect for the Fed to consider going in that direction.”
Still, the futures market is indicating that if the Fed doesn’t move to outright NIRP, the chances for an aggressive rate-hiking policy ahead, as indicated after the December rate rise, are nil.
The CME’s FedWatch tool briefly went into a kind of backwardation Monday, indicating a -2 percent chance for a rate hike at the March FOMC meeting (the probability quickly moved back to plus-2 percent). The tool’s farthest date, February 2017, indicates just a 15 percent chance of an increase, the implication being no moves in 2016 even though the Fed’s “dot plot” of official projections points to four hikes this year.
The actual fed fund futures curve does not indicate a rate rise fully priced in until December 2017.
Michael Darda, chief economist and market strategist at MKM Partners, thinks the Fed would be wise to heed market signals and pay less attention to its models, including the Phillips curve guideline, that indicate a faster tightening cycle. The Fed’s moves to end ZIRP and quantitative easing, along with China’s decision to peg the yuan to the dollar, “has translated into a tightening world monetary policy” similar to what happened in the 1930s.
“The current risk is that policymakers are overly optimistic about the business cycle carrying on in a way that allows inflation to return to its target,” Darda said in a note to clients. “Given the U.S. dollar’s reserve currency status and the PBOC’s quasi peg, global monetary conditions have tightened sharply, causing world nominal growth expectations to weaken. There are some disturbing parallels to 1937, in our view, that should continue to be monitored closely.”
What the Fed will need to weigh ultimately is whether going to NIRP is worth risking its credibility, and whether low or negative rates will have any discernible effect on financial conditions. Bank stocks already are in a bear market, the economy is slowing and damage from the energy sector clearly is seeping into other parts of the economy.
Moving to NIRP now might be regarded as a panic reaction that actually could make things worse.
“I don’t think there are high odds that we’re going to fall into a recession this year, but what if we did?” said Jim Paulsen chief investment strategist at Wells Capital Management.
“If we went into recession now, when you had a zero short rate effectively and a sub-2 percent 10-year Treasury and a $4 trillion Fed balance sheet to spin out and a debt-to-GDP ratio that’s 100 percent on sovereign government debt, I think there would be a fair amount of panic in the cultural mindset because there would be a sense that we went into recession and there’s nothing anyone could do about it,” he added. “That’s a dangerous situation to put yourself in.”
http://www.cnbc.com/2016/02/09/from-zir … -move.html
BACKDOC: ALL WE NEED IS AN EVENT TO TAKE THINGS GLOBALLY OVER THE EDGE!
MAYBE THAT’S THE PLAN TO PURGE THE OLD AND BRING IN THE NEW, OTHERWISE MAJOR BAILOUTS ARE ABOUT TO BE NEEDED!
I READ ON BLOOMBERG TV TONIGHT THAT DRAHGI FROM THE ECB WANTS TO BAN THE BIG NOTES THAT ARE CIRCULATING! HE CLAIMS ITS DUE TO DRUG MONIES! REALLY? MMMMM
WITH CUSHINGS OKLAHOMA REACHING CAPACITY WE COULD BE JUST DAYS AWAY FROM MAXIMUM CAPACITY! OIL WILL THEN GO INTO FREE FALL TO SPOT PRICE WHICH WILL CREATE A CRISIS MOMENT ON OIL PRICES!
GOING TO 18 DOLLARS MAY BE POSSIBLE!
DOC IMO
BACKDOC: THE PANIC IS THAT PEOPLE ARE LOOKING FOR SAFETY FOR THEIR MONEY!
LET ME FIRST TO TELL YOU, WHAT THEY SEEK THEY WILL NOT FIND!
YOU CAN RUN BUT YOU CAN’T HIDE DRIVING THAT FIAT! THE DEFLATION BOOGIE MAN IS COMING AND WINNER TAKES ALL!
YOU CAN’T CATCH ME I’M THE ASSET BACKED GINGERBREAD MAN! HEE HEE
DOC IMO
Thunderhawk: Global Bond Rally Near `Panic’ Level With Japan Yield Below Zero
Worldwide gains in sovereign bonds sent Japan’s benchmark 10-year yield below zero for the first time and have guided U.S. Treasuries to the best start to a year since 1988 as investors seeking the safest assets gorge on government debt.
Yields on Treasury 10-year notes touched the lowest in a year while those on short-dated German securities slid to a record, as U.S. stocks followed shares in Europe and Asia lower. Volatility in Treasuries reached the highest since September as the U.S. sold $24 billion in three-year debt at the lowest yield in almost two years.
There’s now $7 trillion of government debt with yields below zero globally, with the average yield on the Bank of America Merrill Lynch World Sovereign Bond Index at 1.29 percent, the lowest in data going back to 2005. Futures traders pared the odds the Federal Reserve will raise interest rates this year to 32 percent before Chair Janet Yellen begins her two-day testimony to Congress on Wednesday.
“Global risk aversion is being driven by underlying concerns about banks, energy prices and equity markets, and that is one part of what is driving Treasury yields lower,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia. The other “is genuine expectations of weaker U.S. inflation and economic growth. So Yellen will be huge for the markets this week.”
The benchmark 10-year Treasury yield fell two basis points, or 0.02 percentage point, to 1.73 percent as of 5 p.m. in New York, according to Bloomberg Bond Trader data. It touched 1.68 percent, the lowest since February 2015. The 2.25 percent security due in November 2025 was at 104 22/32.
Global Yields
Treasuries have gained about 3.4 percent in 2016, the most in the same period during any year since 1988, according to Bank of America Merrill Lynch index data.
A gauge of demand at Tuesday’s auction was the least since 2009 as the three-year notes sold at a yield of 0.844 percent, the lowest since March 2014. It was the first of three note and bond sales this week totaling $62 billion.
“This is really specific to how low yields are and what is going on in the front end of the yield curve with the Fed outlook,” said Ian Lyngen, a government-bond strategist at CRT Capital Group LLC in Stamford, Connecticut, referring to Tuesday’s auction demand.
Japan’s 10-year bond yield fell as low as minus 0.035 percent, an unprecedented level for such a maturity in a Group-of-Seven economy. Volatility in the nation’s debt market climbed to the highest since July 2013.
“It’s almost like a panic,” said Hideo Shimomura, the chief fund investor in Tokyo at Mitsubishi UFJ Kokusai Asset Management. “The flight to quality is exaggerated.”
A bond-market measure of inflation expectations known as the 10-year break-even rate fell as low as 1.17 percent, the smallest since March 2009. The gauge, which measures the difference between yields on nominal 10-year notes and inflation-protected securities, ended last year at 1.58 percent.
The bond market’s outlook for inflation over the next decade is too sanguine, according to Pacific Investment Management Co.’s Mark Kiesel.
“There is significant value” in Treasury Inflation Protected Securities, Kiesel, who co-manages Pimco’s Total Return Fund in Newport Beach, California, said in a Bloomberg Television interview Tuesday.
The Fed has failed to get its preferred gauge of inflation to its 2 percent target since 2012. Yet wages are improving. Hourly earnings rose 2.7 percent in December from a year earlier, the most since 2009, according to the Labor Department.
Rising Volatility
About 29 percent of the debt in the Bloomberg Global Developed Sovereign Bond Index yields less than zero. Switzerland’s 3 percent notes due in 2018 had the lowest yield in the gauge: minus 0.95 percent, according to data compiled by Bloomberg.
The pace of swings in U.S. government-debt yields has been rising, with normalized volatility on three-month options for 10-year U.S. interest-rate swaps, known as 3m10y swaptions, reaching 95 basis points Tuesday, its highest since July. The gauge of volatility on swap rates mirrors movements in options on Treasury futures. Swap rates serve as benchmarks for investors in many types of debt, including securities backed by mortgages and auto loans.
The Bank of America Merrill Lynch’s MOVE Index, which tracks one-month option projections for the pace of swings in Treasuries maturing in two to 30 years, rose to 89.27 Monday, its highest since September 2015.
http://www.bloomberg.com/news/articles/ … -rate-bets
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BACKDOC: THE MORE WE READ THUNDER THE MORE BELIEVABLE THIS TRADING PARTNER OF IRAQ WILL HAVE A COMPATIBLE CURRENCY!
DOC IMO
Thunderhawk: Iran petchem output to hit $22b: Zangeneh
Tehran, Feb 9, IRNA – Iranian Minister of Petroleum Bijan Zangeneh said the value of country’s petrochemical production will increase to 18 billion dollars by the end of current year (March 20) from 16 billion dollars and is expected to hit 22 billion dollars in the next two years.
Speaking to media on the 37th anniversary of the Islamic Revolution, he said the achievement has been attained by launching phases 15, 16, 17, and 18 of South Pars Gas Field which provide ethane feedstock of the petrochemical plants.
Zangeneh also said that production of environment-friendly Euro-IV petrol has increased from 2.5 million liters daily to 24 million liters a day since President Hassan Rouhani took office two years ago.
“By launching Phase I of the Persian Gulf Star Refinery, there will be no need to import of petrol,” he added, “By the end of Sixth Economic Development Plan production will increase to 3.2 million liters.”
He referred to the measures taken by the petroleum ministry to lay gas pipelines for domestic consumption in the eastern Sistatan-Baluchestan province, and also said that smuggling of oil products including gas oil has been reduced drastically after its distribution to trucks based on bill of loading.
http://www3.irna.ir/en/News/81957336/
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BACKDOC: THIS IS ACTIVATION IN REAL TIME OF THE GOLDEN TRIANGLE WHICH IS PART OF THE SILK ROAD!
WITH ALL THESE CONTRACTS BEING ACTIVATED NO WONDER THE DOLLAR IS UNDER PRESSURE AND A NEW NARRATIVE WAS NEEDED TO EXPLAIN THIS MASSIVE DE-DOLLARIZATION!
CAN YOU IMAGINE WHAT MIGHT BE WAITING FOR THE DOLLAR ON THE OTHER SIDE OF THE CHINESE NEW YEAR HOLIDAY ON THE 15TH? MMMMM
GUYS, WE COULD BE ONLY DAYS AWAY FROM THE NEW REALITY!
TIME COULD BE SHORT LIKE MINI ME! HEE HEE DOC IMO
Thunderhawk: ACTIVATION of THE GOLDEN TRIANGLE
Russia to Deliver 5,000 Freight Wagons to Iran
Russian manufacturer Uralvagonzavod will supply Iran with 5,000 freight wagons, marking the start of Russian exports to the country after the removal of anti-Tehran sanctions, a newspaper reported Wednesday.
According to the Kommersant, Russia’s state development bank Vnesheconombank (VEB) will provide an 11.2-billion-rubles ($140-million) loan to Uralvagonzavod for the matter.
The cars will be developed on the technical task of the Iranian Railways, the paper reported. The deliveries are expected to begin before the end of 2016.
The agreement reportedly comes as part of the VEB’s plans to subsidize the export contracts for the supply of 15 thousand rail cars of different types to Iran, Azerbaijan, Kazakhstan, Egypt and Cuba.
Iran emerged out of international isolation in January, after it was found in compliance with last summer’s nuclear agreement, paving way to the termination of EU, UN and partial US sanctions.
Later in January, Iranian Ambassador to Russia Mehdi Sanaei said that Tehran expected that joint Russian-Iranian projects initiated last year will be implemented in 2016. The transport projects discussed between the sides involve large Russian companies and are altogether worth over $25 billion.
https://news.hec.su/item/567480/russia- … ns-to-iran
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BACKDOC: THE TRIANGLE IS COMPLETE!
Mountainman: ‘ll BET the USA will be “IMITATING” these same Objectives of TRADE w/TPP and Other AGREEMENTS down the NEW GLOBAL HIGHWAY….But for NOW The “AIR” has to DEFLATE for A Little bit LONGER…….Then….BAAMM……Here WE GO!!!!!!!!
This You might say is a ……..UNDENIABLE/VERIFIABLE…..REALITY!!!!!!!!….IMO….For those WHO aren’t WHERE We are……PURE FEAR…..so HELP them as You UNDERSTAND….What’s REALLY GOIN ON!!!!
Thunderhawk: Russia Mulls Trading With China, Iran in National Currencies
Moscow is discussing the possibility of settling payments with Beijing and Tehran in national currencies to intensify agricultural trade, an aide to the head of Russia’s agricultural watchdog Rosselkhoznadzor said.
In November 2015, Russian President Vladimir Putin said Moscow should intensify the use of national currencies in bilateral payments with Iran.
In December 2015, Charge d’Affaires at the Chinese Embassy in Russia Zhang Xiao said that the value of trade between Russia and China could reach the equivalent of $100 billion if the sides used national currencies for mutual payments and modernized the model of bilateral economic cooperation.
“As we know, the [Russian] Finance Ministry is working on creating a scheme [of payments in national currencies]… This issue has been repeatedly discussed at Russian-Chinese negotiations as well as with Iran,” Aleksei Alekseenko said an agricultural exhibition in Moscow.
http://siteground243.com/~hiram155/2016 … urrencies/
Mountainman: Well People/Countries don’t “INVEST” Where there is “NO” Potential for “PROFIT”=THEY did “THEIR” Homework……
I’d say These Guys are HAPPY HAPPY HAPPY…….because They are “INTO” A Bright PROSPEROUS FUTURE….for One Another That is!!!!!!!!
Blessings,Hawk…….You guys are Batting A BILLION RIALS…..Thanks Bro Mountainman
Thunderhawk: Iran, Russia sign investment protocol on economic projects
Iranian Deputy Economy Minister Mohammad Khazayee and his Russian counterpart Sergei Storechak in a meeting here on Tuesday signed an investment protocol on joint economic projects between Iran and Russia.
The 15-clause protocol anticipates opening of governmental export credit for economic and industrial projects.
The Iranian and Russian deputy economy ministers underlined the need for the expansion of mutual cooperation in different economic fields and the need for further cooperation and efforts in this regard.
The two sides also exchanged views on financing the industrial projects in the two countries.
http://www3.irna.ir/en/News/81957438/
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Hoot: might i ask backdoc do you think gold and silver will go down ,so we can buy it at a lower price
BACKDOC: AS VALUE RISES WITH THE NEW DIGITAL ASSET-BACKED CURRENCIES GOLD WILL GO DOWN TO MEET IT JUST LIKE THE MARKET IS ABOUT TO DO!
OF COURSE THIS IS MY OPINION AND EVERYONE HAS ONE!
NITE HAWK! AND FAMILY! DOC
