BACKDOC: BEFORE WE STUDY OUTSIDE IRAQ I WANT TO SAY I’M EXTREMELY CONFIDENT THAT SOMETHING HISTORIC HAPPENED LAST SATURDAY! HEE HEE
I WOULD BE VERY SURPRISED IF SOMETHING OF REALITY DOESN’T SHOW ITS SELF IN THE COMING DAYS!
TOO MANY FACTS AND THINGS COMPLETED TO HIDE ESPECIALLY WHEN WORLD GOVERNMENTS ARE ABOUT TO IMPLODE FINANCIALLY!
8@8, DOC IMO
BACKDOC: HENCE, THE REASON FOR CONCERN OF MEGA CORPORATIONS HAVING SOVREIGNTY OVER GOVERNMENTS! DOC IMO
Thunderhawk: TPP is the ‘worst trade deal ever,’ Nobel-winning economist Joseph Stiglitz says
Nobel Prize-winning economist Joseph Stiglitz says the Trans-Pacific Partnership, or TPP, could be the worst trade agreement ever negotiated in history. In an interview with CBC News, he recommended that the government of Canada insist on reworking it.
“I think what Canada should do is use its influence to begin a renegotiation of TPP to make it an agreement that advances the interests of Canadian citizens and not just the large corporations,” he said in an interview with CBC’s ‘The Exchange’ on Thursday.
Under the TPP, it’s easier for big multinational corporations to sue governments. “It used to be the basic principle was polluter pay,” Stiglitz told CBC.
“If you damaged the environment, then you have to pay. Now if you pass a regulation that restricts ability to pollute or does something about climate change, you could be sued and could pay billions of dollars.”
Stiglitz, a professor at Columbia University in New York, was a keynote speaker at a conference at the University of Ottawa on Friday about the complex trade deal.
International Trade Minister Chrystia Freeland put Canada’s signature on the Trans-Pacific Partnership trade deal, but it has yet to be ratified here. The House of Commons trade committee is studying the TPP — a process that Freeland said could take up to nine months.
Stiglitz described Freeland as “old friend” in an interview with The Canadian Press and said he has explained some of the pitfalls of the TPP to her, among them its potential to reduce workers’ rights.
Stiglitz takes issue with the TPP’s investment-protection provisions, which he says could interfere with the ability of governments to regulate business or to move toward a low-carbon economy.
Video: “TPP ‘worst trade deal ever,’ says Nobel-winning economist Joseph Stiglitz”
http://boingboing.net/2016/04/…..-deal.html
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BACKDOC: STEPPING BACK AND TAKING A LOOK AT THE COMPREHENSIVE NATURE OF THIS FINANCIAL POWERHOUSE IS SIMPLY HUMBLING TO SAY THE LEAST!
IT’S QUITE OBVIOUS WITH AS LITTLE AS 1300 EMPLOYEES WORLD WIDE, THIS FINANCIAL ASSETS MANAGEMENT COMPANY HAS THE POWER TO CONTROL A GREAT PORTION OF THE WESTERN WORLDS FINANCES!
ITS NO WONDER FOLKS THINK THE SYSTEM IS RIGGED WHEN A COMPANY LIKE THIS HAS THE POWER ALTER WORLD FINANCES!
PAUL VOLCKER, FORMER FED GOVERNOR, SAID THAT ”BLACK ROCK IS THE MOST POWERFUL FINANCIAL COMPANY IN THE WORLD”! I GUESS THAT SHOULD SUFFICE! DOC IMO
Thunderhawk: Family last night Doc brought the following Article to my attention !!
BlackRock planning to cut 400 jobs:source
Global asset manager BlackRock Inc (BLK.N) is planning to cut about 400 jobs, or 3 percent of its workforce, as it redirects resources to growth areas, a person familiar with the matter said on Wednesday.
The company is planning to tell employees of the staff reductions in the coming weeks, said the source, who was not authorized to discuss the matter publicly and requested anonymity.
The person said the company was still hiring and expected to end 2016 with more employees than it has now.
A BlackRock spokesman declined comment.
The New York-based company employed about 13,000 people globally as of Dec. 31. BlackRock hired about 800 people in 2015.
The company laid off about 300 employees in 2013 as part of a reorganization to focus more on growth through new clients rather than through large acquisitions. (reut.rs/1RyIrPY)
Volatile markets over the past year have made business difficult for money management firms.
Of the top 10 U.S. companies by mutual fund and exchange-traded fund assets, all but one – Vanguard Group Inc – saw those assets decline over the one-year period through February, according to Lipper, a fund data company. Industry analysts said several such companies had moved to cut staff.
BlackRock Chief Executive Larry Fink said in January that while financial markets may get worse before they get better, his company’s decisions to invest, rather than cut costs, helped it attract money in a turbulent market.
BlackRock reported a lower-than-expected profit for the fourth quarter as costs rose 5 percent because of higher headcount, performance fees and other expenses.
The workforce reductions were first reported by Bloomberg earlier on Wednesday.
BlackRock, whose stock rose less than 1 percent on Wednesday to $341.37, managed more than $4.6 trillion in assets as of Dec. 31.
http://www.reuters.com/article…..SKCN0WW2DG
Thunderhawk: DID YOU CATCH THAT Family $4.6 trillion assets
That is quite a large some of money
WE decided to investigate Black Rock further and found the following
Here are the top 13 companies identified in the Censored Project study:
1 BlackRock US $3,560 trillion (In alliance with Rothschild)
2 UBS Switzerland $2,280 trillion (Rothschild partner)
3 Allianz Germany $2,213 trillion (Rothschild partner)
4 Vanguard Group US $2,080 trillion Rothschild major shareholder)
5 State Street Global Advisors (SSgA) US $1,908 Billionen (Rothschild partners)
6 PIMCO (Pacific Investment Management Company) US $1,820 trillion
7 Fidelity Investments US $1,576 trillion (one of the 4 companies ruling 8 largest U.S. financial companies (JP Morgan, Wells Fargo, Bank of America, Citigroup, Goldman Sachs, U.S. Bancorp, Bank of New York Mellon and Morgan Stanley): BlackRock, State Street, Vanguard and Fidelity).
8 AXA Group France $1,393 trillion (Rothschild partner)
9 JPMorgan Asset Management US $1,347 trillion (Rothschild agent)
10 Credit Suisse Switzerland $1,279 trillion (merged with Rothschild Agents Kuhn-Loeb´s First Boston)
11 BNY Mellon Asset Management US $1,299 trillion (acquired Rothschild Asset Management)
12 HSBC UK $1,230 trillion (fixes gold price at the premises of N.M. Rothschild & Sons)
13 Deutsche Bank Germany $1,227 trillion (Left gold fix at N.M Rothschild´premises in April 2014 amid charges on criminal manipulations.
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BACKDOC: WE WILL BE ENTERING A MOST INTERESTING TIME CONCERNING THE DOLLAR’S DOMINANCE ONCE THE UNIVERSAL CURRENCY CAN BE SETTLED IN EUROS, YEN, YUAN, AND …..
ONCE A RATE GOES LIVE I SUSPECT IT WILL BE LIKE THE EAGLES SONG, “NEW KID IN TOWN”, ONLY, THE NEW KID IN TOWN WILL BE THAT BLACK GOLD WILL BE THE NEW RESERVE CURRENCY IMO!
AS A RESULT WE WILL BE SEE BLACK GOLD BE SETTLED IN OTHER SDR CURRENCIES IN ADDITION TO THE DOLLAR!
IMO I’M SURE THERE WILL BE A STRONG RESISTANCE BY TREASURY SECRETARY LOWE TO AVOID THAT!
PRESIDENT OBAMA IS ALSO GETTING IN THE GAME AS WELL, AS EVIDENCED BY HIS PRESSURE APPLIED ON IRAN WITH SANCTIONS AND CONDITIONS TO RELEASE THEM. HE ALSO STATED THAT IRAN MAY BE ALLOWED TO USE THE DOLLAR ON THE 31ST! HEE HEE DOC IMO
Thunderhawk: Backdoc Alert
BlackRock’s Dollar Optimism Jars With Russell Saying Rally Over
Two of the world’s largest money managers are divided about where the dollar goes from here after the greenback’s worst quarter in more than five years.
The BlackRock Investment Institute saysthere’s room for the U.S. currency to rise, while Russell Investments Group is callingan end to the dollar bull run of the past two years. The greenback was little changed Friday as investors digest Federal Reserve Chair Janet Yellen’s concern that global headwinds may restrain the U.S. economy.
“We cannot rule out the Fed sounding more hawkish this year,” said Jean Boivin, head of economic and market research at a unit of New York-based BlackRock, which manages $4.6 trillion. “This is not where we are now, but we might come to a point later this year where the inflation data continues to move higher, and the Fed starts to sound more reassuring about the outlook. Once we get there, we would have a basis for the dollar to continue appreciating.”
Rate Divergence
The greenback rallied the past two years as the Fed tightened monetary policy while other global central banks deployed negative rates and boosted bond-buying stimulus. Losses have piled up this year as a dimming outlook for tighter U.S. monetary policy diminished the allure of dollar-denominated assets.
The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was little changed on Friday after dropping to the lowest level since June 30 on Thursday. The gauge declined 3.9 percent in March, and fell 4.1 percent for the quarter, both the biggest losses since September 2010.
A measure of the greenback’s momentum, known as the 14-day relative strength indicator, briefly fell below 30 Thursday. Levels below 30 are viewed by some traders as a signal declines have reached extreme levels and may reverse.
After the Fed raised rates in December for the first time in almost a decade, comments by policy makers, including Yellen on March 29 in a speech to the Economic Club of New York, have spurred investors to reassess forecasts for the greenback.
Dollar ‘Peaking’
“The U.S. dollar is peaking,” according a note from strategists including Andrew Pease at Russell Investments, which manages $242 billion. “It has already turned weaker against the Japanese yen, and we don’t expect too much upside against the euro.”
The greenback extended losses on Thursday after a report showed an increase in weekly jobless claims before the government issues its monthly employment data Friday. The U.S. added 205,000 jobs in March, according to a Bloomberg survey of economists, compared with a 242,000 increase the month before.
“Yellen’s comments this week have increased downside risk to the dollar,” said Omer Esiner, chief market analyst in Washington at Commonwealth Foreign Exchange Inc. “In terms of the dollar, these numbers and even tomorrow’s payrolls number may have a somewhat limited impact.”
http://www.bloomberg.com/news/…..-direction
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BACKDOC: HOPE YOUR NOT SURPRISED BY THIS SINCE WE SHARED IT WITH YOU FOR SOME TIME NOW! WE PREDICTED IT OVER A YEAR AND A HALF AGO! DOC IMO
Mountainman: WHY??? Would IRAN want Anything to do w GREECE…… Unless, A Reality was about to Arise/Appear w New Value/s……w out this their Economy has No hope……therefore IRAN will benefit Many as Iraq will as Well…… IMO
Thunderhawk: Greece calls for expansion of ties with Iran
Athens, April 1, IRNA – Greek Economy Minister George Stathakis in a meeting with Iran’s Ambassador to Greece Majid Motalebi Shabestari called for expansion of all-out ties between the two states.
Referring to the opportunity of post-Joint Comprehensive Plan Of Action (JCPOA) era, he urged boost of ties between Iran and Greece in field of economy particularly in field of oil.
Iranian envoy for his part said that the ground is ready for development of ties between Tehran and Athens.
He called for facilitation of banking relations between Iran and Greece as well as signing Double Tax Avoidance Agreement (DTAA) between the two countries.
http://www3.irna.ir/en/News/82018165/
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BACKDOC: THE DEAL THEY MAY TRY TO MAKE IS TO GET THEM TO EXCHANGE INTO DOLLARS FIRST BEFORE SELLING IN EUROS OR YEN! THIS WOULD CONTINUE THE DOLLARS DOMINANCE.
TIME WILL TELL IF THAT HAPPENS! CURRENCY VELOCITY IS THE CHALLENGE ALL THE SDR CURRENCIES WILL FACE!
CURRENCY SWAPS WILL BE USED TO BALANCE OUT THE WEALTH OF COUNTRIES IN THE SDR! DOC IMO
Thunderhawk: US considers easing ban on Dollars in a bid to help Iran: AP
Tehran, April 1, IRNA – The Obama administration is considering easing financial restrictions that prohibit US dollars from being used in transactions with Iran, Associated Press reported.
The AP report said that angry US lawmakers countered that Tehran would be getting more than it deserves from last year’s nuclear accord.
While no final decision has been made, officials told The Associated Press the Treasury Department has prepared a general license permitting offshore financial institutions to access dollars for foreign currency trades in support of legitimate business with Iran, a practice that is currently illegal.
Several restrictions would apply, but the change could prove significant for Iran’s sanctions-battered economy. It also would be highly contentious in the United States, where Republican and some Democratic lawmakers say the administration promised to maintain a strict ban on dollars along with other non-nuclear penalties on Iran after last July’s seven-nation nuclear agreement.
The nuclear pact provided Iran with billions of dollars in sanctions relief for limiting its nuclear program. But the Iranians say they haven’t benefited to the extent envisioned under the deal because of other US measures, the news agency said.
Because of its status as the world’s dominant currency, the dollar often is used in money conversions. For example: If the Iranians want to sell oil to India and be paid in euros instead of rupees, so they could more easily purchase European goods, the process commonly starts with the rupees being converted into dollars.
American sanctions block Iran from exchanging the money on its own. And Asian and European banks are wary because US regulators have levied billions of dollars in fines in recent years and threatened transgressors with a cutoff from the far more lucrative American market. Using dollars to make even a rupees-to-euros conversion, following that example, would still involve the money entering the US financial system, if only momentarily, it wrote.
The new guidance would allow dollars to be used in currency exchanges as long as no Iranian banks are involved, according to the officials, who weren’t authorized to speak publicly on the matter and demanded anonymity. No Iranian rials can enter into the transaction, and the payment wouldn’t be able to start or end with American dollars. The ban would still apply if the final payment is intended for an Iranian individual or business on a US sanctions blacklist.
Top administration officials have only hinted at providing Iran additional help.
‘We do believe that they are complying’ with the nuclear accord, Ben Rhodes, President Barack Obama’s deputy national security adviser, told reporters Thursday.
In a speech Wednesday, Treasury Secretary Jack Lew said, ‘Since Iran has kept its end of the deal, it is our responsibility to uphold ours, in both letter and spirit.’
Lew warned that ‘sanctions overreach’ risked driving business away from the United States, hurting the US and global economy and empowering economic rivals.
‘If foreign jurisdictions and companies feel that we will deploy sanctions without sufficient justification or for inappropriate reasons — secondary sanctions, in particular — we should not be surprised if they look for ways to avoid doing business in the United States or in US dollars,’ Lew told the Carnegie Endowment for International Peace.
The 2012 National Defense Authorization Act instructs the president to ‘block and prohibit’ all Iranian assets if they ‘come within the United States, or are or come within the possession or control of a United States person
‘
http://www3.irna.ir/en/News/82018241/
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BACKDOC: I CAN’T HELP BUT FEEL A LITTLE GIDDY AS THIS WEEK WE SAW J.LEW GET VERY CHATTY ALONG WITH OBAMA! WHY? MMMM
WELL THUNDER, AS SOON AS THE UNIVERSAL CURRENCY STARTS TO BE SETTLED IN EURO AND YEN THE CURRENCY VELOCITY OF THE DOLLAR WILL IMPLODE! NOW LETS ADD TO THE FACT THAT IT’S LIKELY WE WILL SEE IRAQ AND THE VND BE DUMPING THEIR DOLLARS AS WELL ONCE THEIR RATE IS ESTABLISHED!
I THINK IRAN IS CHOMPING AT THE BIT TO GET ROLLIN WHILE THE U.S. SEEMS TO BE STALLING THEM UNTIL THE MONETARY REFORM IS COMPLETE! MMMM DOC IMO
Mountainman: Does it get ANY More Blatant than this???….. One can’t hàve a Play w/out the CAST and CREW……and ALL Perform WHEN it’s their appointed TIME…..=It’s about TIME to Pull back the Curtains, for All to SEE…… I’m glad I have my Tickets!!!!!!!……. LOL…..IMO
Thunderhawk: Unnecessary for Iran to Work in US Dollars Amid European Financial Options
Iran does not need to do business in US dollars when it has the ability to work with European financial mechanisms, President Barack Obama said in a speech at the close of the Nuclear Security Summit in Washington, DC.
Earlier on Friday, the Wall Street Journal reported, citing US government officials, the Obama administration might allow the Iranians to do business in US dollars because the nuclear agreement reached last July was not providing economic benefits Tehran had expected.
“It is not necessary that we [the United States] take the approach of them [Iran] going through dollar denominated transactions,” Obama stated on Friday. “It is possible for them to work through European financial institutions as well.”
Obama noted that the United States and other P5+1 countries involved in negotiating the nuclear deal with Iran will take steps to provide clarity to businesses about what transactions they are allowed to conduct with Tehran.
It might take several months, Obama added, for companies to feel confident that there are no major risks in doing business with Iran.
The United States, the president claimed, will work with the Iranians to address their financial concerns related to the nuclear deal.
http://www.newsoneplace.com/article/24624031509/us-unnecessary-iran-work-dollars-amid-european-financial-options
Thunderhawk: Hey DOC look – from the CHOSEN ONE to the CHATTY ONE… LOL
BACKDOC: IT’S NO WONDER JACK JACK JACK IS TAP TAP TAPPING HIS FOOT ON THE FLOOR IN A NERVOUS TWITCH! HEE HEE
SO HE GOES TO THE CONGRESS AND SAYS HEY! ANYBODY IN THERE MCFLY! HEE HEE
ITS TIME TO PLAY BALL OR YOU WON’T HAVE A BALL TO PLAY WITH! DOC IMO
Radio France: US treasury is after major economic deal with Iran
Tehran, April 1, IRNA – US Treasury Secretary Jack lew said on Thursday that the US treasury department is to refurbish a very significant economic deal with the Islamic Republic of Iran.
According to a documentary report aired by French radio quoting the US treasury secretary Jack, the US secretary has warned the US congress admitting that the treasury department is to revive economic cooperation with Iran.
In a stern warning to US congress, Jack Lew has warned that toughening of financial punishments against Iran could weaken the US role as well as US dollars in the global market.
Toughening financial punishments will put the US supremacy in global economy at risk and also will lessen the impacts of its punishments, he said.
The US has informed foreign enterprises that in what areas it (the US) can or cannot establish economic cooperation with Tehran, he said.
Mark Dubowitz, the Executive Director of the Foundation for Defense of Democracies and also an expert on Sanctions against Iran in Washington, has said that Lew’s comments have indicated that US is to make a significant compromise with Iran so that the former can make its trade deals with the latter based on dollar.
Dubowitz added another objective behind Lew’s comments could be to avoid the US Congress from imposing new punishments on Iran.
Meanwhile, Iran’s Defense Minister Brigadier General Hossein Dehqan has hoped on Thursday that the UNSC is not to show any reaction regarding Iran’s missile tests.
Forces of the Islamic Revolution Guards Corps (IRGC) have successfully test fired several ballistic missiles earlier this month.
Iran’s Permanent Representative and Ambassador to the United Nations Gholamali Khoshroo has already stressed that Iran’s recent ballistic missile tests were part of Tehran’s ongoing efforts to strengthen the country’s legitimate defense capabilities.
Iran has announced on different occasions that its tested missiles are not capable of carrying nuclear warheads as the US and some western countries have claimed.
http://www3.irna.ir/en/News/82017899/
Dnari131: the Globe seems to be crackin at the seams…something must be comin around the corner!
BACKDOC: YES SIR! THINGS ARE A POPPIN IN A BUNCH OF WAYS!
MY ADVICE IS TO KEEP YOUR EYES ON THE DOLLAR!
ONCE VIETNAM AND IRAQ HAVE A RATE THEY WILL DE-DOLLARIZE AS QUICK AS THEY CAN WHILE THE DOLLAR IS STILL PROPPED UP!
ONCE THATS DONE, LOOK OUT BELOW!
DOC IMO
BACKDOC: WELL THUNDER, THERE YOU SEE IT IN INK!
SAUDI ARABIA WANTS TO BREAK AWAY! NOW MY SDR THEORY MAY BE GETTING SOME TEETH!
SINCE CHINA IS STARTING TO DEFAULT ON ITS DIM BOND DEBT A SOLUTION WILL NEED TO ARISE TO STABILIZE THE YUAN WON’T IT?
RIGHT! OZ CAN NOT LET THE YUAN TOTALLY BE RUINED BECAUSE OF ITS ROLE IN THE SDR NOW!
SINCE CHINA IS S.A.’S BIGGEST CUSTOMER IT SEEMS LOGICAL THAT S.A. WILL DE-PEG AND SETTLE IN YUAN.
IN ADDITION JUST LIKE IRAN A SECONDARY CURRENCY WILL LIKELY BE USED FOR EMPIRE COUNTRIES OUTSIDE THE SILK ROAD.
I BELIEVE THAT WILL BE THE POUND SINCE IT CONTINUES TO GET POUNDED AND IS FACING A BREXIT VOTE ON THE 23RD OF JUNE! HEE HEE DOC IMO
Thunderhawk: The Empire of the Petrodollar and the Price of Refusing It
Ahead of the meeting of OPEC and non-OPEC oil producers scheduled for April 17 in Qatar in a bid to stabilize plummeting crude prices, let’s have a look at oil’s financial heart, the petrodollar system, and the unfortunate position of those member states who tried to break free of it.
OPEC members and key oil producers from outside the cartel are set to meet in Qatar’s capital Doha on April 17 in a bid to stabilize plummeting crude prices.
The meeting is a “follow-up” to the talks between Qatar, Russia, Saudi Arabia and Venezuela held earlier in February, where they proposed an accord to freeze oil output at January levels, the first significant agreement between OPEC and non-OPEC producers in 15 years.
The Qatari oil minister and current OPEC President, Mohammed Al Sada said in a statement that 15 countries accounting for some 73 percent of global oil output supported further action.
Meanwhile, let’s have a look at the system which underlies the standardization of oil prices and the fate of those countries who once wished to abandon it.
The Empire of the Petrodollar
Soon after the collapse of the Bretton Woods gold standard in the early 1970s, when the US unilaterally abandoned the Gold Standard which pegged the value of the dollar to the price of gold, and all other currencies were pegged to the dollar, the US struck a deal with Saudi Arabia to standardize oil prices in dollar terms.
Though no formal proof exists for the oft-repeated assertion, Turkish conservative daily newspaper Yeni Safak recalls that it was Richard Nixon’s Secretary of State, Henry Kissinger, who made a secret visit to Saudi Arabia as early as 1972, to fix and set what became later called the “petrodollar system and petrodollar recycling.”
Kissinger may have sealed a deal whereby Saudi Arabia would formally and solely accept dollars for all its oil sales, and would exert its power over the Arab region to ensure other Gulf exporters did the same.
Saudi Arabia would then make available and place “surplus liquidities,” unspent dollars, in the US Federal Reserve system, starting with the Federal Reserve Bank of New York.
The petrodollar recycling system thereby elevated the US dollar to the world’s reserve currency and brought massive advantages to the US.
Worldwide, any buyer and importer of Arab oil would first need to buy and hold dollars, ensuring strong global demand for the US currency.
Secondly, the surplus or unspent dollars that each state would accumulate in its national treasury would needed to be “recycled.
”
These surplus dollars are spent on domestic consumption, lent abroad to meet the balance of payments of developing nations, or invested in US dollar denominated assets.
This last point, is the most beneficial for the US dollar; as the petrodollars make their way back to the US, these recycled dollars are used to purchase US securities (such as Treasury bills), which creates liquidity in the financial markets, keeps interest rates low and promotes non-inflationary growth.
These “petrodollars” going straight into the Federal Reserve system, backstop the US dollar, and enable the strategy of “controlled devaluation,” needed to help service growing US debt by devaluing the money used to repay loans, to operate without running out of control and turning into an inflation rout.
The Sad Fate of the Refuseniks
Yeni Safak recalls the unfortunate position of those member states who once attempted to get out of the system.
Back in November 2000, Baghdad insisted on and received UN approval to sell oil through the oil-for-food program for euros. Iraq had threatened to suspend all oil exports — about 5 percent of the world’s total — if the body turned down the request.
According to The Guardian’s report on the issue, “Saddam’s Weapons of Mass Destruction was not really the issue — and neither was Saddam himself.
“The real issue is candidly described in a 2001 report on “energy security” — commissioned by then US Vice-President Dick Cheney — published by the Council on Foreign Relations and the James Baker Institute for Public Policy. It warned of an impending global energy crisis that would increase “US and global vulnerability to disruption,” and leave the US facing “unprecedented energy price volatility.”
In 2001, Venezuela’s ambassador to Russia spoke of Venezuela switching to the Euro for all their oil sales. Within a year there was a coup attempt against Chavez, reportedly with assistance from the CIA.
Back in 2009 then president of Libya Muammar Gaddafi was named the head of the 53-member body of the African Union.
According to more than one observer, Gaddafi put forward a plan to quit selling Libyan oil in US dollars, demanding payment instead in gold-backed “dinars” (a single African currency made from gold).
The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
Right afterwards Gaddafi changed from “a model” and “important ally” to becoming the next target for regime change.
Numerous reports suggest that in 2005-2006, the Tehran government developed a plan to begin competing with New York’s NYMEX and London’s IPE with respect to international oil trades — using a euro-denominated international oil-trading mechanism.
The clear aim was to establish a firm foothold of the euro in the international oil trade.
Now, as many more countries, including Russia, China, Saudi Arabia and others are talking of breaking free from the petrodollar system, their joint meetings become more and more intriguing.
http://www.ooyuz.com/geturl?aid=11054986
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BACKDOC: WE HAVE BEEN WATCHING THIS AGGRESSIVE TAX GRAB BY THE UK FOR SOME TIME NOW. IT SEEMS TO BE GEARING UP FOR A COUNTRY BY COUNTRY APPROACH! MMMMM WHY?
WELL, AFTER THE MIGRANT CRISIS HAS DONE EXACTLY WHAT IT WAS INTENDED TO DO, BREAK UP THE SCHENZENG AGREEMENT, ITS TIME NOW TO START SENDING THEM HOME AS WE SEE SOME GETTING READY TO BE SENT BACK TO TURKEY!
THE DAMAGE SEEMS TO BE IRRECOVERABLE FOR THE EU. COUNTRIES WILL REDISCOVER THEIR OLD CURRENCIES AGAIN AND BEGIN TO MOVE TOWARD THEIR ASSET BACKED NEW REALITY!
IF THE UK BREXITS THERE WILL BE A DOMINO AFFECT AND SPAIN WITH ITS “BREAKING UP IS HARD TO DO”, WILL BE RIGHT BEHIND! HEE HEE
ITALY IS ALSO FINANCIALLY CHALLENGED. WHO WILL BAIL OUT THE EURO? WILL THE DOLLAR AND THE EURO BE REPLACED? MMMM WE WATCH WE STUDY! DOC IMO
Thunderhawk: DOUBLE PLAY!!!
EU Tax Code Derided as a ‘Parody of Transparency’
A proposed plan to allow for country-by-country reporting of major companies’ profits – in an effort to counter aggressive tax avoidance by big multinationals such as Google, Amazon and Starbucks – has been branded a “parody of transparency” by critics.
EU finance ministers in March agreed to make the largest corporations operating in the EU report their activities to tax administrations. It follows a serious of rulings and investigations by the European Parliament and Commission.
However, critics say the new tax arrangement — for multinationals with a total consolidated group revenue of at least US$847 million — will only involve passing tax information between member states’ tax agencies and will not be made public or available to journalists.
Campaign group Transparency International says the country-by-country reporting (CBCR) scheme is further flawed in that companies will only be required to publish information on a CBCR basis for activities in EU Member States.
“For the rest of the world, including tax havens outside the EU, companies will only have to disclose an aggregate figure which undermines the legislation. Multinationals will still be able to shift their profits outside the EU without anyone being able to monitor where they are located, what they are doing and what they give to governments in the form of taxes or other payments. If a CBCR system only applies to 28 countries and leaves out 168, it cannot be called CBCR,” the campaign group said.
Details Missing
The group also says the CBCR scheme does not go into enough detail. “What’s missing from this proposal are assets, sales and purchases, public subsidies received, and a list of subsidiaries. We have strongly advocated for the inclusion of both public subsidies and payments to governments in the legislation, as these are important elements to raise flags on potential corruption cases and collusion between governments and corporations.
“Despite strong rhetoric, the EU has made little in the way of progress on real corporate tax transparency. The European Commission’s long-awaited leaked draft proposal fails to deliver and is a parody of transparency,” it said.
In January 2016, the European Commission branded the Belgian “excess profit” tax scheme illegal under EU state aid rules and ordered the country to recover the US$760 million unpaid tax from the companies concerned, most of which are major multinationals.
In October 2015, the Commission ruled that Luxembourg and the Netherlands have granted selective tax advantages to Fiat and Starbucks, respectively. The Commission also has three ongoing in-depth investigations into concerns that tax rulings may give rise to state aid issues, concerning Apple in Ireland, Amazon in Luxembourg and McDonald’s in Luxembourg.
The investigation into Ireland’s tax treatment of Apple is ongoing. Last December the Commission opened an investigation into Luxembourg’s tax deal with McDonald’s.
http://www.follownews.com/eu-t…..ency-11fma
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Brexit Rocks Gibraltar as Spain Issues Ultimatum
Spain has threatened to sever ties with Gibraltar and close its border with the Rock, if the UK exits Europe, a senior Spanish official has warned.
“We do not see Britain leaving the European Union has an opportunity but you have to understand that if Brexit happened it would change our obligations to Gibraltar,” a source told London newspaper The Times.
British MPs have been warned that the UK must factor Gibraltar in the event of a Brexit from the European Union. Gibraltar’s government recently sent a six-page document to the chairman of the UK’s Foreign Affairs Committee outlining its concerns about the impact a Brexit would have on the Rock.
“In the event of a vote to leave the European Union, it is imperative that the United Kingdom’s negotiation of a new relationship with the EU, from outside it, takes into account the views of the Government of Gibraltar,” the briefing paper states.
Gibraltar wants the UK and Gibraltar to remain in the EU amid concerns that Spain could exploit the situation and forgo its obligations to the peninsula. The Rock needs Spain for access overland to Europe where around 10,000 people cross the border every day for work.
Gibraltar has been part of Britain’s territory since 1713 — but Spain considers the Rock to be Spanish territory and wants it back and territorial tensions have escalated in the past few years.
In 2013, Spain complained about an artificial reef laid around the Rock by the British colony, claiming it would damage the country’s fishing industry. Madrid retaliated by imposing border checks on every traveler in and out of Gibraltar causing debilitating delays on roads. Britain’s response was to send a Royal Navy ship, HMS Westminster to dock in Gibraltar.
Prime Minister David Cameron said the border checks were politically motivated and said that it violated the European Union’s principle of free movement. A principle Cameron has since been keen to distance the UK from during Britain’s renegotiation of its membership with the EU. However the European Commission ruled that the border controls were lawful.
According to the Spanish source who spoke to the Times, a Brexit would mean: “No longer would we have to respect the free movement of labor not having long queues and the free movement of capital and goods which Brussels demands.
“We could even close the border if we wanted.”
In the recent briefing notes sent to MPs by the Gibraltar government, includes the concern that if Gibraltar was not in the EU, “Spain would be significantly more reluctant to cooperate with its authorities.”
http://www.ooyuz.com/geturl?aid=11054982
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Thunderhawk: AS PAPPA J WOULD SAY “HERE’S THE KICKER”
Blessings ThunderHawk Over and Out Goodnight
US, China ‘Actively Explore’ Expanding Trade, Military Ties – President Xi
The United States and China plan to actively examine the possibilities of expanding trade, cybersecurity, counterterror and military-to-military cooperation, Chinese President Xi Jinping said during a meeting with President Obama in Washington, DC on Thursday.
The meeting between Xi and Obama took place on the sidelines of the fourth Nuclear Security Summit in Washington, DC, which is attended by more than 50 foreign leaders.
“We will also actively explore possibilities of deepening cooperation in wide areas, from economy and trade, to mil[itary]-to-mil[itary] ties and people-to-people exchange, from counterterrorism to law enforcement and cybersecurity,” Xi stated.
The Chinese president noted that he and Obama also seek to “enhance communication and coordination” on the North Korean nuclear issue in addition to other regional and global issues in order to “consolidate and expand our shared interests.”
http://29ru.net/pu/various/50713495/
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World Economy Must Be Ready for ‘Catastrophic Consequences’ of Cyberattacks
The international community should ensure there are measures in place allowing to cope with a major cyber attack, which could be disruptive for the global economy, US Deputy Secretary of the Treasury Sarah Bloom Raskin said on Thursday.
The Treasury deputy secretary made the statement at the Cybersecurity Docket’s Incident Response Forum in Washington, DC.
“So far, the global economy and our financial infrastructure have been spared a cyber attack with far-reaching consequences to our financial system and our nation’s economy,” Raskin stated. “We need to prepare for cyber incidents that have such potential impact.”
Raskin argued that the global economy has been able to avoid a major catastrophe that could freeze “our financial system, our payment system, or our basic functioning of this critical infrastructure” because of extraordinary preparation and measures that are already in place.
The deputy secretary added that the keys to effective response to a cyber attack are similar to the measures that can be implemented in response to a natural disaster.
“The keys are preparation, coordination, and practice,” Raskin explained.
US agencies as well as private organizations have suffered numerous data breaches in the past ten years. Targets successfully penetrated include the US Internal Revenue Service, a nuclear research laboratory and the US office of Personnel Management, where personal data of 21 million former and current US government employees was compromised.
http://www.ooyuz.com/geturl?aid=11041792
BACKDOC: WITH TPP AND OTHER EMPIRE TRADE DEALS ALREADY IN PLAY ITS EASY TO SEE THAT THINGS HAVEN’T BEEN AS SMOOTH AS BUTTER FOR CHINA!
LIKE I’VE BEEN TEACHING FOR WELL OVER A YEAR NOW, CHINA WILL BE MARGINALIZED. WELL, LETS KEEP THEM AWAY FROM THE BUTTER AND HAND THEM THE MARGARINE! HEE HEE
OZ WILL REDIRECT THE BALANCE OF CURRENCY VELOCITY AS WE HEAD IN TO THE NEW REALITY. THE DAYS OF CHEATING ON THEIR CURRENCY WILL BE NO MORE.
LET ME CHANGE THE DIRECTION OF OUR STUDY FOR A MOMENT CAN I?
THANKS. I HAVE THREE POSSIBILITIES OF ACCIDENTS ON PURPOSE.
1. BREXIT
2. A SAUDI DE-PEG
3. A CYBER ATTACK THAT COULD SEIZE UP ALL DIGITAL CURRENCY
TRANSACTIONS, DEBIT AND CREDIT! IF THIS WERE TO BE DONE IT COULD BE DONE BY ANYONE AND BLAMED ON ANYONE, COULDN’T IT?
BOY WOULD THAT EVER BE A GOOD EXCUSE FOR THE DOLLAR AND MARKET CRASH!
WE HAVE BEEN HEARING OF THIS KIND OF WARNING FOR SOME TIME NOW AND I PERSONALLY BELIEVE IT WILL BE DONE FOR A PURPOSE!
WE WILL SEE! BE PREPARED!
AFTER THE RATE ROLLS FOR THE DINAR,DONG, ZIM,RIAL,RUPIAH, DOLLARS WILL BE DISCARDED QUICKLY LIKE AN OLD TUBE OF TOOTH PASTE AS THESE COUNTRIES DE-DOLLARIZE AS WELL AS SETTLE OIL SALES IN NON DOLLAR CURRENCIES!
BE CAREFUL BECAUSE WE WON’T GET ANOTHER SQUEEZE ONE DAY IF I’M RIGHT.
IT WILL JUST HAPPEN! MMMM AN ACCIDENT! MMMMM DOC IMHO
Thunderhawk: I saved the Best for Last
And NOW for your Cherry on the top.
Just a little bed time story so you can go night night….
As DOC would say here’s your Baa Baa
From Hawk to the Family ONCE UPON A TIME
Vietnam Central Bank terminates short-term borrowing of foreign currencies
After March 31 certain enterprises will be not permitted to borrow foreign currencies from banks and then exchange it into VND to buy materials, according to Circular No. 24 from the State Bank of Vietnam (SBV).
The move is a further step from the central bank in its anti-dollarization efforts.
The Circular applies to enterprises that have demand for short-term capital to conduct export-related business activities.
There are still some enterprises allowed to borrow foreign currencies if their demand includes short-term borrowing to make export payments, short-term borrowing for the export or import of petrol; and borrowings for investing abroad.
Mr. Nguyen Hoang Minh, Deputy Director of the SBV’s Ho Chi Minh City Branch, was quoted as saying that the central bank previously allowed enterprises to borrow foreign currencies in order to increase credit growth in the context that VND interest rates were high. Now, though, the monetary situation is more stable and VND interest rates have come down.
http://english.vov.vn/trade/vi…..316266.vov
BACKDOC: LET THE DE-DOLLARIZATION BEGIN!
