BACKDOC: WHEN THE THUNDER GETS LOUDER AND LOUDER YOU KNOW THE LIGHTNING IS ABOUT TO STRIKE, AND WHEN IT DOES IT REMOVES THE DARKNESS DOESN’T IT? MMMMM
HEY THUNDER! DO YOU HAVE A BRIGHT LIGHT TONIGHT?
FOR A FEW WEEKS NOW WE HAVE BEEN WATCHING ACTIONS BECAUSE ACTIONS MEAN THINGS!
WHO IS TALKING TODAY THUNDER?
CAN YOU SHED SOME LIGHT IN THIS DARK MONETARY REFORM ROOM? DOC
Thunderhawk: GOOD EVENING FRANK – FAMILY – FRIENDS
WASS UP DOC!!!!
I GOT A HUMONGOUS ARTICLE!!!!!
POSTING IT NOW!!!!! READY????? SET !!!!!! GO !!!!!!!
BACKDOC: INDEED GENTLEMEN!
INDIA’S CHANGE IN FOREIGN CURRENCY IMPLIES NOT THAT IT MIGHT HAPPENBUT DID HAPPEN!
THE QUESTION IS: WHEN WILL OZ PULL BACK THE CURTAIN FOR ALL TO SEE?
GOD CERTAINLY KNOWS, BUT LITTLE OLE ME UNDERDOG, WILL JUST BITE THE COIN AND REMAIN HUMBLE AND LOVABLE TO SWEET POLY PUREBREAD TONIGHT! HEE HEE
I LIKE THE FACT THAT MARCH FIRST IS A TUESDAY! DOC IMO
Thunderhawk: HUMONGOUS ALERT
Currency revaluation swells India’s Forex reserves: Experts
Despite a massive decline in India’s reserve position with the International Monetary Fund (IMF), the country’s foreign exchange (Forex) reserves kitty grew by $347 million during the week ended February 12, experts said on Saturday.
According to the Reserve Bank of India’s (RBI’s) weekly statistical supplement, the overall Forex reserves gained by $347.2 million to touch $351.83 billion for the week under review.
The foreign reserves had risen by $2.33 billion to $351.48 billion for the week ended February 5.
Analysts attributed the rise in Forex reserves to the currency revaluation effect and appreciation in the US dollar value.
“The country’s foreign exchange reserves rose by $347.2 million to $351.831 billion in the week to February 12, thanks to revaluation impact from the non dollar part of reserves,” Anindya Banerjee, associate vice president for currency derivatives with Kotak Securities, told IANS.
“RBI may have been selling US dollars that week through the forward and futures market, which is not going to be counted as a part of the official reserves statistics.”
The currency revaluation strengthened the foreign currency assets (FCAs) which is the largest component of India’s Forex reserves. It grew by $1.58 billion to $330.01 billion during the week under review.
Apart from the US dollar, the FCAs consist of nearly 20-30 percent of other non-US dollar major global currencies, securities and bonds.
The individual movements of these currencies against the US dollar impacts the overall foreign reserves value.
“US dollar had rallied by around one percent against major global currencies and that may have also contributed to the increase in reserves,” a currency analyst from New Delhi told IANS.
Notwithstanding, the country’s gold reserves remained stagnant. The bullion had risen by $456.6 million to $17.69 billion for the week ended February 5.
The special drawing rights (SDRs) were higher by $21.5 million to $4.06 billion.
However, the country’s reserve position with the IMF plunged by $1.25 billion to $54.2 million.
http://www.freepressjournal.in/currency-revaluation-swells-indias-forex-reserves-experts/785938
Mountainman: Sounds like A RISE Of “THUNDER” in The EAST and MOVING It’s WAY to The WEST……IMO
BACKDOC: WHEN DID IRAN SAY THEY WOULD BEGIN TO ENTER THE WORLD WITH IRAQ?
RIGHT! AROUND THE 8TH!
THEN THEY SAID IT WOULD BE SLOWLY, SLOWLY, BUT LESS THAN A MONTH!
WELL, HERE WE SEE SOMETHING HAPPENED TO INDIA’S FOREIGN RESERVES ON THE SAME WEEK! HEE HEE THE WEEK ENDING THE 12TH! HEE HEE
AMAZING! PROOF THAT SOMETHING HAPPENED TO CAUSE SOME OR ONE OF THEIR FOREIGN RESERVE CURRENCIES TO REVALUE HIGHER! WOW!
LIKE A ANOTHER CHRISTIAN BROTHER P…. SAID THE OTHER DAY, IF THIS NEWS DOESN’T GET YOU SO EXCITED AND ON FIRE, THEN YOUR WOOD IS WET! HEE HEE GREAT STATEMENT!
A COUPLE OTHER THINGS TO NOTE THAT CONFIRMS WHAT I’VE BEEN TELLING YOU IS THEY MENTIONED THEIR GOLD RESERVES REMAINED STAGNANT!
WE HAVE ALSO SEEN ARTICLES CONFIRMING THAT INDIA IS BUYING MUCH LESS GOLD LATELY! WHY?
WELL, JUST LIKE CANADA, IF YOU KNEW THAT THE DOLLAR WAS HEADED LOWER IN THE FUTURE AND GOLD WAS GOING LOWER YOU WOULD BE A SELLER OF GOLD NOT A BUYER!
WHAT DID I SAY WOULD GO UP? RIGHT!
EMERGING COUNTRY CURRENCIES OR NEW ASSET BACKED BONDS! WHAT DOES INDIA HAVE HERE? EXACTLY! NOW YOU GET MY DRIFT!
METALS WILL HAVE TO BE RE-PRICED LOWER DUE TO THE EMERGING ASSET BACKED CURRENCIES REVALUING! THE STOCK MARKET WILL ALSO FIND ITS NEW REALITY SOON!
HEY GUYS, THINK BACK WITH ME FOR A SECOND. REMEMBER WHEN VIETNAM DID A CLEVER MOVE? MMMMM
WEEKS AFTER READING THAT I FIGURED OUT THAT THEY PUT 80% OF THEIR DEBT INTO DOLLARS! MMMMM
IF THE FIAT DOLLAR GETS REPRICED LOWER COMPARED TO THE NEW ASSET BACKED REALITY THEIR 80% DEBT WILL GET CRUSHED WHILE THEIR NEW ASSET BACKED DONG WILL BE AN ASIAN STUDD! HEE HEE
CAN YOU IMAGINE 20 TRILLION DOLLARS OF US DEBT CRASHING 30 TO 50%? MMMM
WOW WOULDN’T THAT BE MUCH EASIER TO PAY BACK WOULDN’T IT?
8@8, DOC IMO
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Thunderhawk: MMMM I WONDER WHERE THE TRANSFER OF WEALTH IS GOING!!!!!
HAWK
Backdoc Alert
1 in 4 Americans on verge of financial ruin
The rich keep getting richer. The rest of us aren’t so lucky.
According to a survey released Tuesday by Bankrate.com of more than 1,000 adults, nearly one in four Americans have credit card debt that exceeds their emergency fund or savings. And that’s partially because many people, in addition to their debt, don’t have a dime in their emergency fund at all: another Bankrate survey released earlier this year found that 29% of Americans have no emergency savings at all.
These numbers mean that many Americans are “teetering on the edge of financial disaster,” says Greg McBride, Bankrate.com’s chief financial analyst — thanks to the fact that they might be hard-pressed to pay for an emergency should one arise. “Not only do most of them not have enough savings, they’ve all used up some portion of their available credit — they are running out of options.”
That’s particularly problematic considering that emergencies happen more often than you might think. A 2014 survey by American Express found that half of all Americans had experienced an unforeseen expense in the past year — some of which could be considered an emergency. Indeed, 44% of those who had an unforeseen expense(s) had one for health care and 46% for car trouble — two items that for many Americans are must-pay items, as you need a car to get to work and your health expenses are usually not optional.
Some groups — for example, the 30 to 49 age group — are in worse off than others when it comes to credit card debt and savings. This group is in particularly rough shape, likely it faces child-related and mortgage expenses.
Age % who say credit card debt is greater than emergency savings
18-29 20%
30-49 26%
50-64 25%
65+ 14%
For consumers, the ideal situation is to have no credit card debt and at least six months of savings in an emergency fund (more if you have dependents), experts say. But the reality is that most of us don’t have even close to that (just 52% of Americans have more emergency savings than credit card debt, the Bankrate survey revealed).
The good news: If you have no emergency savings, or more debt than savings, experts say you can remedy that situation. Some recommend paying off your credit card debt first (focus on paying as much as you can on the highest-interest-rate debt and the minimums on all others) and then building up savings, but others say you should try to do both at once. “When you have high interest credit card debt, I recommend saving just enough to cover short-term emergencies (your washer or dryer breaks, your car needs new brakes) — that might be one or two thousand dollars,” says Doug Bellfy, a financial advisor at Synergy Financial Planning in Glastonbury, Conn. “Then attack the credit cards and only then go back and complete building your emergency fund.”
Wan McCormick, a financial planner with Reliable Alliance Financial in Fairfax, Va., agrees with the split strategy: “Based purely on the numbers, one might recommend to focus on the high-interest rate credit debt since it costs more money out of pocket…however, oftentimes, unexpected events happen, and without an emergency fund, consumers with high-interest rate debts usually resort back to loans and most frequently, the credit card, since it is the easiest form of accessing money,” he says. To do both at once, McBride recommends setting up a direct deposit with part going into savings and part toward your credit card.
http://www.marketwatch.com/story/story? … 8f06c9e85b
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Mountainman: Yes Even The BIG BANKS are Nervous NOW w/Over EXPOSURE to the MONEY WEATHER MACHINE…….And Their Clients are Not SATISFIED w/ their Too Big to FAIL MINDSET…….A “FALL” is A coming QUICKLY and these BANKS “KNOW IT……As DOC has said “WATCH” Out WHEN/WHAT You Exchange Your CURRENCY(GOLD) Into…..It May RESULT as A MAJOR LOSS if it’s NOT ASSET BACKED on the USA Side…..IMO
Backdoc Alert
J.P. Morgan’s exposure to oil, gas debt has Wall Street jittery
J.P. Morgan Chase CEO Jamie Dimon is focused on building a so-called fortress balance sheet at his behemoth bank. To that end, he said the bank JPM, -4.18% has added around $500 million to its reserves against loans losses in the oil-and-gas sector in the first quarter of 2016.
The move comes as crude-oil prices have fallen about 12% so far this year and have plunged 34% over the past 12 months, putting the finances of energy companies under pressure.
The additional reserves bring the amount that J.P. Morgan has set aside to cover losses in the battered energy space to $1.3 billion, after reporting more than $800 million in oil-and-gas loan-loss reserves at the end of 2015. The bank also said that nearly 40% of its loan exposure in the sector is to energy and production companies:
Offering details about its balance sheet at an event for investors in New York on Tuesday, the sprawling bank said if crude prices tumble to around $25 a barrel and remain there for 1½ years, it may add an additional $1.5 billion to its reserve balance. The U.S. benchmark for oil, West Texas Intermediate CLJ6, -2.32% currently trades around $32.
The bank said it continues “to monitor closely” the oil-and-gas sector and sees “no significant contagion.”
Further breaking down its loan exposures to the oil-and-gas sector, J.P. Morgan said it has about $19 billion in high-yield loans, considered the riskiest grade of corporate debt, as the following graphic shows:
J.P. Morgan’s disclosures come as investors fret about the impact of a protracted collapse in commodities like oil on the lenders who finance them. The Financial Select Sector SPDR ETF XLF, -1.78% a measure of the stock-market performance of U.S. financial firms, is down 14% over the past three months, although it has recently recovered somewhat, according to FactSet. J.P. Morgan shares are down by about as much.
J.P. Morgan also added a $100 million capital buffer in 2016 to protect against exposures to the metals-and-mining sector GDX, +2.10% which has been hit hard by worries over a world-wide economic slowdown. Base metals like copper HGH6, -1.71% are down more than 20% over the past 12 months, and iron ore has lost nearly a quarter of its value over the same period.
Still, J.P. Morgan made the case on Tuesday that because it maintains a diversified business, its balance sheet has remained strong and revenue has been growing:
J.P. Morgan shareholders appeared unimpressed with its disclosures, driving the bank’s shares down nearly 4%, making it the worst performer among the Dow Jones Industrial Average DJIA, -1.14% components in a down day on Wall Street.
http://www.marketwatch.com/story/story? … 8ca1371e32
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BACKDOC: THIS PRODUCTION OR SUPPLY PROBLEM IS NOT GOING TO BE SOLVED QUICKLY!
ANOTHER DYNAMIC IN PLAY AS I HEARD TODAY IS THAT, THE US WILL LIKELY BECOME A BIGGER PLAYER THAN RUSSIA IN THE NATURAL GAS ARENA!
NO WONDER CARL ICAN BOUGHT A MAJOR STAKE IN A LIQUIFIED NATURAL GAS SUPPLIER!
DOC IMO
Backdoc Alert
Crude drops as Saudi oil minister shatters hope for producer cuts
Crude futures settled with a sharp loss on Tuesday after Saudi Arabia’s oil minister, Ali al-Naimi, shattered any hopes that producers would cut back on output to help alleviate the world’s excess supplies.
April West Texas Intermediate crude CLJ6, -2.35% fell $1.52, or 4.6%, to settle at $31.87 a barrel on the New York Mercantile Exchange. April Brent crude LCOJ6, -1.59% on London’s ICE Futures exchange fell $1.42, or 4.1%, to $33.27 a barrel.
At the IHS CERAWeek conference in Houston Tuesday, al-Naimi said there is “no sense wasting our time seeking production cuts.”
He also said he has no concerns about demand, so he welcomes additional supplies, including shale oil.
“There was nothing new from the Saudi oil minister, whose rhetoric fell in line with everything we have heard from him for well over a year: that Saudi will not be cutting production,” said Matt Smith, director of commodity research at ClipperData.
Saudi Arabia has the biggest pull in the Organization of the Petroleum Exporting Countries as the group’s largest crude-oil producer and exporter.
“Given recent developments with Russia and other OPEC members, some appear to have placed hope in [the Saudis]; once again their hopes have been dashed,” said Smith.
Al-Naimi said a freeze in output would allow oil supplies to fall, but it would take time.
Tyler Richey, co-editor of The 7:00’s Report said the “wild card” when it comes to plans for a production freeze “remains Iranian production as officials there have explicitly said that they plan to continue raising output until their exports are back towards pre-sanction levels.”
That could mean as much as another 1 million barrels a day in capacity, Richey said.
During his speech, al-Naimi said that while oil is in a “painful downturn,” the market will return to balance and demand will pick up.
OPEC Secretary-General Abdalla Salem el-Badri said on Monday that a proposed coordinated production freeze, if agreed upon by all OPEC members, would mark the a first step to support prices. However, a price increase would embolden U.S. producers to ramp up output, he added.
Oil prices Monday had gained on expectations for a fall in crude production following nine-straight weeks of declines in the number of active oil-drilling rigs. But “the pace of production declines in the U.S. right now is simply not enough to absorb the global production surplus that will likely only get worse with Iran set on continuing to increase output,” said Richey.
Back on Nymex, March gasoline RBH6, -0.96% fell 3.4 cents, or 3.4%, to 96.63 cents a gallon and March heating oil HOH6, -1.13% lost 3.3 cents, or 3.1%, to $1.022 a gallon. March natural gas NGH16, -0.06% ended at $1.782 per million British thermal units, down 3.9 cents, or 2.1%.
http://www.marketwatch.com/story/story? … 5d62cd3bb0
Thunderhawk: WELL FAMILY I GUESS WE KNOW WHY IRAQ HAS NOT SIGNED THERE AMNESTY LAW YET !!!!
AS DOC WOULD SAY ” IT’S JUST NOT THEIR TURN” BOO HOO
BACKDOC: So The “GREAT EXCHANGE” Must Continue as BLACK GOLD is used as a Means to Get to a DESIGNED END!!!…….For GLOBAL MARKETS…….That Is……..IMO
IMF’s Lagarde Says Oil May Stay Low for Longer Than Expected
Crude prices will probably stay low for longer than expected, International Monetary Fund Managing Director Christine Lagarde said, urging Gulf Arab oil-producing countries to cut spending and boost revenue through new taxes.
A value-added tax that’s the same across the six-nation Gulf Cooperation Council should be adopted, Lagarde said in a speech in Abu Dhabi. The measure along with corporate income and property taxes would help raise government income, she said.
“Not only have oil prices fallen by around two-thirds from their most recent peak, but supply- and demand-side factors suggest that they are likely to stay low for an extended period,” Lagarde said. That makes it necessary for oil producers to lower reliance on crude for government income, she said.
Global oil prices have dropped 44 percent in the past year, forcing Saudi Arabia to cut spending on energy subsidies and consider selling sovereign bonds and shares in national oil company Saudi Arabian Oil Co., known as Saudi Aramco. The United Arab Emirates has also eliminated fuel subsidies.
U.S. benchmark West Texas Intermediate crude should trade in a range between $25 and $45 a barrel for the rest of the year, “although a very brief spike down towards $20 is possible,” the National Bank of Abu Dhabi PJSC said in its Global Investment Outlook 2016 report on Sunday. Prices at the lower end of the range will stimulate demand growth, it said.
WTI rose 1.9 percent on Monday to $30.20 a barrel by 11:20 a.m. in Dubai and Brent, benchmark for more than half of the world’s crude, climbed 1.5 percent to $33.49 a barrel.
http://www.bloomberg.com/news/articles/ … d-ikxowj72
Mountainman: YES Folks the GIG is UP and DOWN.(see article below) ….and As EVERYTHING Adjusts to It’s TRUE ASSETS VALUE…… VOLATILITY and DISTRUST will Abound……and People are DESPERATELY trying to FIND a SAFE HAVEN for Their INVESTMENTS….Meanwhile The DOLLAR will FALL further and Eventually Reflect it’s ASSETS in DUE TIME….IMO
BACKDOC: THE EURO DROPPED TO ITS LOWEST LEVEL IN 7 YEARS!
DO YOU THINK THAT SOMEONE IS GETTING NERVOUS ABOUT THE REFERENDUM IN BRITAN? THE VERY SHENGZEN AGREEMENT WHICH IS UNDER ATTACK FROM MIGRANT OVERLOAD, GREECE DEPARTING AND LIKELY CATALONIA REGION IN SPAIN (BARCELONA), NOT TO MENTION THE BRITS POTENTIAL MOVE!
THE ADDED EXPENSES WILL BE SO OVERWHELMING TO THE REMAINING MEMBERS THAT THEY WILL NOT SUPPORT OR DEFEND THE CURRENCY! REMEMBER, THE EURO IS BACKED BY A TREATY NOT ASSETS!
ONCE THE TREATED HAS SUFFERED CATASTROPHIC DAMAGE THE ACCIDENT ON PURPOSE WILL BE UNDERWAY! DOC IMO
Backdoc Alert
Oil downturn sparks equity selloff
Global equity markets slumped on Tuesday, denting the recent recovery in riskier assets as oil prices tumbled on signs that a proposed deal to freeze output by major producers was not on the horizon.
After gains of more than 5 percent on Monday, which had helped push a gauge of world equities up more than 1 percent, both Brent LCOc1 and U.S. crude CLc1 turned sharply lower after Saudi Oil Minister Ali Al-Naimi said he welcomed all sources of supply, while Iran was seen as unlikely to agree to an output cap.
The decline in crude weighed on both the energy .SPNY and financial .SPSY sectors on Wall Street. Concerns about bank exposure to the energy sector were highlighted by JP Morgan’s (JPM.N) announcement that it will put aside an additional $500 million to cover potentially bad loans to energy companies.
Markets have been closely tethered to oil prices, which have been volatile based on the continually changing perceptions that an output deal could be reached.
“The markets are really worried that we are missing something here – that the global slowdown may be more significant than we are recognizing and that slowdown could be causing oil prices to drop,” said Tracie McMillion, head of asset allocation at Wells Fargo Private Bank in Winston-Salem, North Carolina.
U.S. crude futures settled down 4.6 percent at $31.87 a barrel and Brent LCOc1 settled 4.1 percent lower at $33.27 a barrel. The commodity had shown signs of stabilization above $30 a barrel recently on hopes a production freeze by major producers could be agreed upon.
The Dow Jones industrial average .DJI fell 188.88 points, or 1.14 percent, to 16,431.78, the S&P 500 .SPX lost 24.23 points, or 1.25 percent, to 1,921.27 and the Nasdaq Composite .IXIC dropped 67.02 points, or 1.47 percent, to 4,503.58.
European shares also moved lower on the crude weakness, along with and disappointing updates from Standard Chartered (STAN.L), down 6.7 percent, and BHP Billiton (BLT.L), down 6.1 percent. A weak sentiment reading of German manufacturers also raised concerns about the health of the region’s largest economy.
Resources stocks .SXPP, down 3.2 percent, weighed heavily on European equity indices after the world’s largest miner, BHP Billiton, posted its first loss in 16 years.
The pan-European FTSEurofirst 300 .FTEU3 index of leading shares closed down 1.3 percent. MSCI’s index of world shares .MIWD00000PUS was lost 0.92 percent.
In currency markets, the British pound GBP= remained under pressure, and was down 2.7 percent on the past two sessions, its biggest two-day drop in six years, on worries Britain may leave the European Union. Sterling was last down 0.83 percent at 1.403.
The euro EUR= also fell to $1.0987 on Monday, its lowest in almost three weeks, on fears Brexit could undermine the European Union. It was last down 0.13 percent at $1.1012.
Investors’ shift towards safer ground on Tuesday pushed the dollar lower against the yen, down 0.7 percent to 112.10 yen JPY= after hitting a low of 111.75.
The dollar’s index against a basket of six major currencies .DXY was little changed, up 0.09 percent at 97.467
Benchmark 10-year U.S. Treasuries reversed earlier losses and were last up 8/32 in price to yield 1.7380 percent.
http://www.reuters.com/article/us-globa … SKCN0VW046
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Mountainman Well W/ Iran Moving on UP ……Like the JEFFERSON’S……(ASSET WISE) MANY like INDONESIA and Others will CONTINUE TO BENEFIT as ASSETS Move from The EAST to The WEST…..IMO
Thunderhawk: NOT SURPRISED ARE WE DOC?????
BACKDOC: JUST ANOTHER REASON WHY ITS NOT IRAQS TURN!
IRAN IS HURRYING AS FAST AS IT CAN!
TOO BAD HE’S NOT THE GINGERBREAD MAN! DOC IMO
Iran, Indonesia discuss energy co-op
Iran’s Petroleum Ministry and Indonesia’s Energy and Natural Resources Ministry officials will confer on boosting energy cooperation on Tuesday, an official at the Indonesia’s Energy and Natural Resources Ministry said.
According to the Beritasatu TV’s website, Indonesia Energy and Natural Resources Ministry’s Oil and Gas Director IGN Wiratmaja Puj said in a press conference that Iranian and Indonesian officials will discuss joint investment in fields of oil and gas in their two-day meeting.
According to IGN Wiratmaja Puj, several investors have expressed an interest to build fuel storage for Indonesia, including investors from Iran.
At a meeting with an Iranian delegation scheduled for Feb. 23, the government will reportedly offer the projects to Iran, he said.
Indonesia aim to import oil and gas from Iran and in the meantime, take help from Iranian investors for constructing an oil refinery complex and chemical fertilizer factory there.
Indonesia Minister of Energy and Mineral Resources Sudirman Said visited Iran in October 2014.
http://www3.irna.ir/en/News/81975663/
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Mountainman: EVERYONE Come and CELEBRATE…I Mean NEGOTIATE w/ Us….says IRAN……We are a SAFE HAVEN of TRUE ASSET VALUE…….The HORSES are RUNNING WILD……..IMO
BACKDOC: AFTER EVERY ARTICLE WE HAVE SEEN ON IRAN MAKING DEALS EVERYWHERE ITS JUST RIDICULOUS HOW FAST THEY ARE MAKING DEALS AND INTEGRATING TO THE WORLD!
RELAX FRIENDS! THE TWO SHIA BROTHERS SAID THEY WILL LAUNCH TOGETHER DID THEY NOT?
WELL, IF THEY DID ON THE 8TH AS THEY SAID, NO WONDER INDIA’S RESERVES HAVE JUMPED ON THE SAME WEEK!
THEY WILL SHOW IT SOON! THE IMF WILL DIRECT THE PROPER TIMING! DON’T BE HARD ON IRAQ, THEY ARE READY IMO DOC IMO
Thunderhawk: Singaporean delegation due in Iran on Friday
In the wake of lifting of anti- Iran sanctions, a big Singaporean economic-trade delegation consisted of 67 people from Singapore Business Federation is scheduled to come to Iran to negotiate on developing bilateral economic and trade relations.
Iranian Ambassador to Singapore Javad Ansari told IRNA on Tuesday that the delegation will be headed by the Chairman of Singapore Business Federation Teo Siong Seng and the Minister for Trade and Industry S. Iswaran.
He said that the Minister for Trade and Industry of Singapore will meet Iran’s Minister of Economic Affairs and Finance Ali Tayeb Nia to negotiate and sign investment encouragement and protection agreements.
He said that Iswaran will also meet Iran’s Minister of Industry, Mine and Trade, Mohammad Reza Nematzade and will participate in meetings with businessmen.
Ansari said that these companies will negotiate on IT, building hotels, transportation, pharmaceutical industry and other capacities.
The Singapore Business Federation (SBF) is the apex business chamber championing the interests of the Singapore business community in the areas of trade, investment and industrial relations. It represents 22,500 companies, as well as key local and foreign business chambers.
In July 2001, the Minister for Trade and Industry introduced a Bill in Parliament to establish the SBF Act, which was passed by Parliament and became law on 5 Oct 2001.
The Federation was then established on 1 April 2002, with the aim of representing the business community’s interests both locally and overseas. Under the SBF Act, all Singapore-registered companies with share capital of S$0.5 million and above are members of SBF.
http://www3.irna.ir/en/News/81975620/
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Mountainman: SPAIN….From DROWNING IN DEBT…..to SWIMMING IN DEALS w/ A NEW and IMPROVED CURRENCY that will Enhance SPAIN’S FUTURE…..IMO
Thunderhawk: Spain to make investment in Iran’s petchem industry
Simultaneously with the enthusiasm expressed by the big European companies for being present in the Iranian petrochemical industry, the SERCOBE Company of Spain has announced its readiness in this regard.
Marcel Riudavets Slangen, SERCOBE’s Export Director, in a meeting with Managing Director of the National Petrochemical Industries Company Marziyeh Shahdaei announced his company’s interest in long-term financing of Damavand Petrochemical Complex.
He said this was his second visit to Iran in recent months and expressed hope that his talks will lead to the company’s presence in Damavand Petrochemical Complex.
Meanwhile, Amir Hossein Fallah, Finance Advisor and Investment Development Director of the Company who was also present in the meeting said Damavand Petrochemical Complex is in the process for being transferred.
Therefore, he added, the Spanish company should work with the new owner if agreement is reached between the two sides.
Damavand Petrochemical is a utility complex located in Assalouyeh.
http://www3.irna.ir/en/News/81975628/
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EHankins: PERHAPS I’M A LITTLE BEHIND OR A BIG BUFFALO BEHIND ….WHY DO SUPPLIERS OF OIL CONTINUE TO PUMP IT OUT OF THE GROUND AND SELL SELL SELL OIL INSTEAD OF CAPPING FOR A WHILE TO FORCE OIL PRICES TO GO UP UP UP?…IT’S A CRAZY…I JUST DON’T SEE BEHIND THE CURTAIN I GUESS……
BACKDOC: ITS ABOUT MARKET SHARE AND EXTRACTION COSTS!
IRAN 3 TO 7
IRAQ ABOUT THE SAME OR LESS!
SAUDI ARABIA SIMILAR! DOC IMO
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Mountainman: LEAD, FOLLOW,or Just get Out of IRAN’S WAY……..It’s $$$$$$$ TIME…..ALL ASSETS Welcome to Play….If You PAY….IMO
Thunderhawk: Iran transport services upgraded to global standards: Minister
Minister of Roads and Urban Development Abbas Akhundi said on Tuesday that Iranian transport services, especially railway sector, will be upgraded to global standards.
He made the remarks after signing MoU between Iran Railways (IRIR) and a German Company.
Akhundi said that signing the Memorandum of Understanding with the German company is so important for Iran, because it prepares ground to advance Iran’s railway services.
Iran’s railways should be able to play major role on transferr of goods and passengers at global level, so its development is in our agenda.
Iran-China railway link was big development and show that Iran could connect railroad from China to Germany to promote its world chain of value.
Renovation of air fleet, development of railroad networks, ports and roads with aim to activate Iran in crossroad of north-south and east-west and Silk Road is necessary.
http://www3.irna.ir/en/News/81976361/
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Thunderhawk: SO WHY IRAN ???? YOU ASK ???? WHY INDEED!!!!
OK FAMILY LETS GET DOWN TO BUSINESS!!!
THIS IS WHY WE HAVE A WAITING ROOM FOLKS ThunderHawk IMO
Inside Story – Who benefits from Iran’s business boom?
https://www.youtube.com/watch?feature=player_embedded&v=dBOCbNnNBo0#t=0
Mountainman: Well HAWK…..I watched some Portions of the Interview……As it stands….EUROPEAN Countries and Others With their Technology is NEEDED for DEVELOPMENT w/IRAN’S INDUSTRY….The NEW SILK ROAD is A GOLD MINE ….So EVERYONE is JUMPING in that MINING TRAIN as “FAST” as they can….IMO…..Lastly WORKERS will be NEEDED as PRODUCTION and DISTRIBUTION becomes Paramount for BUSINESS..So Many JOBS will be MET On BOTH Sides of these DEALS being Made…..IMO) I Will Have to Watch MORE of it Later…..
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Thunderhawk: DOC HUGE – HUGE – HUGE !!!!!
PLEASE REPLY GUESS WHO : the world’s top economic decision-makers
BACKDOC: I THINK ITS INTERESTING THAT WE SEE TALK OF A DOLLAR DEVALUE AND A YUAN REVALUE!
IT SEEMS NO ONE IS QUALIFIED TO DECIDE HOW THAT SHOULD BE DONE AT THE G-20!
IT APPEARS THE WORLD’S TOP ECONOMIC ADVISORS ARE THE ONLY ONES QUALIFIED TO MAKE THOSE DECISIONS!
WHO MIGHT THEY BE? HEE HEE
LOOK TO THE BIS TO IMPLEMENT THOSE DECISIONS! DOC IMO
Mountainman: Well “IF” it is a “RUMOR”…..LOL……Do You Think The Chinese Would Tell Us ???…..”Of Course we are MAKING A DEAL to “Do A ONE-OFF”….Uh…..No Of Course NOT…..IMO…..But It Very WELL could be a REALITY CHECK MATE…..TIMING/TIME???….WILL TELL…It ALWAYS DOES!!!!!!!!…….LOL……
Wishful thinking: Rumoured G20 deal to stabilise currency, like the 1985 Plaza Accord, is ‘just fantasy’, says China’s finance minister
It is wishful thinking to expect a deal addressing currency volatility – like the 1985 Plaza Accord – to be struck at next week’s G20 meeting in Shanghai, says China’s finance minister Lou Jiwei.
“That’s just the media’s fantasy,” Lou said on the sidelines of the Chinese 50 Economists Forum in Beijing on Friday. “That proposal doesn’t even exist.”
Lou was responding at the annual forum to questions about whether members of the G20 might reach an inter-government agreement to jointly intervene in the foreign exchange market.
The forum is a top Chinese economics club whose members include Lou, Liu He, President Xi Jinping’s right-hand man in economic policymaking; central bank governor Zhou Xiaochuan, central bank deputy governor Yi Gang, as well as renowned economist Wu Jinglian.
Asked whether a one-off yuan revaluation would be on the agenda at the meeting of finance ministers and central bankers from the Group of Twenty major economies in Shanghai next week, Lou said: “No, no, no.”
Lou’s comments came on the back of analysts’ –including Bank of America Merrill Lynch chief investment strategist Michael Hartnett’s – speculation that the world’s top economic decision-makers would seize the chance to strike a deal similar to the Plaza Accord.
The accord is an agreement between France, West Germany, Japan, the United States and Britain in 1985 that allowed the US dollar to weaken significantly through joint intervention in currency markets.
Some economists, including Yu Yongding, a former People’s Bank of China adviser, are arguing for a one-off revaluation of yuan.
But many other analysts see the deal and a one-off revaluation as implausible.[/color][/size][/b]
“It’s certainly not appropriate for policymakers to discuss what level the exchange rate should be at,” said Guan Tao, a former official with the State Administration of Foreign Exchange. “Nobody can tell where the right level should be.”
Guan said while there was a general sentiment that finance ministries and central banks around the world should improve policy coordination, they lacked specific proposals to act on.
State Council adviser Xia Bin said it was “very unlikely” for the G20 gathering to result in any concrete action plan.
http://www.scmp.com/news/china/diplomac … e-currency
Bucking Horse » Tuesday, February 23, 2016
Iraqi money-exchange association formed
3:07 PM admin
Baghdad/ Iraq TradeLink: The Iraqi money exchange association was formed in the capital, Baghdad.
It is expected that the new association will organize training workshops for money exchange offices, banks and money transfer facilities in coordination with the Central Bank of Iraq.
No other details were given.
Posted in: Baghdad,Economy
http://www.iraqtradelinknews.com/2016/0 … ormed.html
BACKDOC: ACTIONS MEAN THINGS! YES FRANK!
THIS IS WHAT IMPLEMENTATION LOOKS LIKE ONE MAJOR MOVE AT A TIME!
SOON IT WILL BE IRAQS TURN! HEE HEE…….GREAT JOB GENTLEMEN! DOC IMO
Mountainman: One Things “FOR SURE” Doc…..Since IRAN is “MOVING”….at the SPEED of a LOCOMOTIVE……That CAN ONLY Mean….”IRAQ and Others” Are RIGHT Around The “RAILROAD CURVE”…..IMO….(8) BALL CORNER POCKET………LOL………..
BACKDOC: ONE WOULD CERTAINLY THINK SO!
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Thunderhawk: Good night Family Frank and Friends
Good to see you all
Way to go MM
Way to go Newshounds and commentators
Blessings ThunderHawk
