BACKDOC: JUST A QUICK NOTE SINCE I WILL HAVE TO CRASH.
HONG KONG MARKETS ARE DOWN TODAY DUE TO A HOLIDAY IN CHINA.
EAST TO WEST! YES! DOC IMO
Mountainman: TWO WORDS…….MAY DAY……..Hmmm
Blessings,DOC………MM
(8)=New Beginnings……..for the EAST to find it’s WAY WEST……..IMO
Mountainman: A Cry for Mercy is way Out of reach for this US TERRITORY……..The Edge has Melted Away and FLOTATION Instruments are Gone
……So Now What…..???……Well It’s A Crisis Everywhere and Now is the TIME for Change…..Unfortunately it will Get Worse Before it gets better on this Front……IMO
Blessings,Mountainman (8)=New Beginnings……for A Storm w/ Unseen Measures
Thunderhawk: Backdoc Alert
Puerto Rico Will Default on Government Development Bank Debt
Puerto Rico will default on a $422 million bond payment for its Government Development Bank, escalating what is turning into the biggest crisis ever in the $3.7 trillion market that state and local entities use to access financing.
Governor Alejandro Garcia Padilla invoked a debt moratorium law approved last month, saying during a televised address Sunday that the commonwealth needs to focus on providing essential services. The bank, already operating under an emergency period, had until the end of Monday to make the payment.
“Faced with the inability to meet the demands of our creditors and the needs of our people, I had to make a choice,” Garcia Padilla said during his 10-minute speech. “I decided that essential services for the 3.5 million American citizens in Puerto Rico came first.”
The GDB missed payment may open the door to larger and more consequential defaults on general-obligation bonds, which are protected by the island’s constitution. Puerto Rico and its agencies owe $2 billion on July 1, including $805 million for general obligations. It also could imperil slow-moving efforts by U.S. lawmakers to resolve the biggest crisis ever in the tax-exempt market
http://www.bloomberg.com/news/articles/2016-05-01/puerto-rico-will-default-on-government-development-bank-debt
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Mountainman: WOW…….If this Isn’t A Calculation of BANK RISKS…….Banks are in Huge trouble Now…..Way Over leveraged and in Serious Trouble……Many didn’t Fair to well in the Feds Stress tests on Banks Loans to Capital on Hand Ratios……and w/ the BIS it’s Serious BUSINESS for Winners and Losers based on Priority of What and When (THEY) can Help……a Means of Last RESORTS…..Yikes
The Gig is Up…..Look Out Below…….IMO
Blessings,Mountainman (8)=New Beginnings……for LIQUIDITY ISSUES………
Thunderhawk: Backdoc Alert
Fed may need more powers to support securities firms during crises: Dudley
The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday.
“Providing these firms with access to the discount window might be worth exploring,” Dudley said in prepared remarks at a financial markets conference in Amelia Island, Florida organized by the Atlanta Fed.
The discount window is a credit facility through which banks borrow directly from the U.S. central bank in order to cope with liquidity shortages.
The Fed currently has limited ability to provide funding to securities firms in such situations, with the discount window only available to depository institutions.
But the transformation of securities firms since the financial crisis, Dudley said, with the major ones now part of bank holding companies and subject to capital and liquidity stress tests, meant the environment has now changed.
Read more at: http://www.reuters.com/article/us-usa-dudley-idUSKCN0XS1O2
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Mountainman: As DOLLAR Values/Stocks/Treasuries are Declining the Key for Markets is to Hit HARD COMMODITIES…..a Safe haven of Sorts=Precious Metals and Agriculture is always needed…..People have to eat…..and these Areas are Feeling the DOLLARS Demise knocking at the Door……IMO
Blessings,Mountainman (8)=New Beginnings……for Commodities
Thunderhawk: Backdoc Alert
Commodities Overtake Stocks, Bonds With Best Rally Since 2010
The global gluts that have plagued markets from crude oil to zinc are finally starting to subside, sending commodities to their biggest monthly gain since December 2010.
The Bloomberg Commodity Index, a measure of returns for 22 components, climbed as much as 1.1 percent on Friday to the highest since November. The gauge climbed 8.5 percent in April, beating returns for indexes of global equities, high-yield and investment grade, bonds, Treasuries and all major currencies. Oil in New York posted the biggest monthly gain in a year, and gold reached the highest in more than a year. Read more at:
http://www.bloomberg.com/news/articles/2016-04-29/commodities-overtake-stocks-bonds-with-best-rally-since-2010
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Mountainman: Yes The People……Leave it to the People……After we Sell it to the PEOPLE……LOL……By Brits……and Scotland says……NOT w/out us …..Chap…..LOL……and the CASCADE of FALLING Giants will Continue from Here…..One by One……IMO
Blessings,Mountainman (8)=New Beginnings……for A SCOTTISH (RIGHT) ……to Leave
Thunderhawk: Backdoc Alert
Brexit Would Boost Scottish Independence Calls, SNP Leader Says
Scottish First Minister Nicola Sturgeon predicted rising support for a second independence referendum if Britain votes to leave the European Union
.
“The prospect of Brexit would definitely lead to growing demand for Scottish independence,” the Scottish National Party leader told BBC Television’s “Andrew Marr Show” on Sunday. “If we see that growing demand, no one would have the right to stand in the way of that.”
Sturgeon made her comments as a new poll gave a narrow lead to the Brexit campaign less than two months before Britain holds a referendum on its EU membership. Forty-six percent of voters want to leave the bloc, 43 percent back staying in and 11 percent are undecided, the survey by ICM Ltd. for the Sun on Sunday newspaper found. Read more at:
http://www.bloomberg.com/news/articles/2016-05-01/brexit-would-boost-scottish-independence-calls-snp-leader-says
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Mountainman: Yes it’s Painful China….but the IMF Prescribed these Very TAX Over Hauls……..Revenue is the ENGINE that generates the SPEED of
Making Ones economy Consumer Driven…..this is just a Part of the TRANSITION and in the End it Will Take the Load Off of The Government…..Unfortunately the Citizens will Carry the brunt……Oh the costs of Playing by the RULES…..Says CHINA…….IMO
Blessings,Mountainman (8)=New Beginnings……Of Pain in A New Growth Model
Thunderhawk: Backdoc Alert
China’s tax overhaul aims to cut business costs
China has rolled out a value-added tax (VAT) system across all industries that previously had a business tax, in the most ambitious overhaul of its tax regime in three decades.
The world’s second-largest economy is stumbling through its slowest growth in a quarter century but is continuing with tough reforms in its transition to a services-oriented economy from one powered by manufacturing.
The government first began experimenting with a VAT in 1979 and started applying the tax to specific sectors in 2012. The final four sectors to adopt a VAT on Sunday are construction, property, finance and life services – which includes food and beverage, healthcare and tourism industries.
Premier Li Keqiang had said the reforms would be adopted by May 1 in his work report at the annual parliament in March.
A business tax directly taxes businesses, whereas a VAT – sometimes known as a goods and services tax – is borne by the end consumer, reducing the burden on companies which are facing rising costs and a slowing economy. To read more:
http://www.reuters.com/article/us-china-tax-reform-idUSKCN0XS106
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Thunderhawk: Iran pushing for global banking reintegration: CNBC
The Central Bank of Iran (CBI) is pushing to reintegrate Iranian banks into the global banking system, says a CNBC report.
According to the US television network, the governor of CBI, Valiollah Seif, has told the channel about his recent meeting with the Financial Action Task Force (FATF), the policy-making body of the international financial system, in Paris, France.
Seif said FATF representatives “were surprised by the steps taken by the Iranian banks and financial institutions,” and “that they were not aware of the changes we have made in our banking sector.”
The report said the CBI chief’s efforts were meant to take Iran off a FATF blacklist that alleged its support for terrorism.
It said the country’s move to get off the list is probably due to issues it faces accessing overseas money owed to Tehran.
Seif expressed confidence that Iranian banks would be removed from the blacklist, though he did not give a timeframe.
FATF confirmed a recent meeting but declined to comment on its content or the tone, CBNC noted.
Last month, the head of CBI called on the United States to feel responsible for banking ambiguities impeding Iran’s access to European Union (EU) financial institutions.
Seif, who had traveled to the US in April to participate in the spring convention of the International Monetary Fund (IMF), told the official IRNA news agency that America needed to act in lockstep with the Last July nuclear agreement which envisaged Iran’s access to international financial transaction.
He warned that failure to do more to integrate Iranian banks into the global economy could jeopardize the nuclear agreement.
http://iran-daily.com/News/150561.html
Mountainman When it Comes to KNOWING….A Country is A PLAYER in this New Reality and their Resources/Economy is A Sure thing……Who wouldn’t Jump Over Hoops and Cut the Red tape of Debt……???…..Germany says Here ye here ye…..We will Set Aside these Outstanding Debts for Now……Because IRAN the MONEY we and Others will Make in this New Transition of Values is going to Be Amazing for Us both…..Are You In…..???…….GOOD…..Us too…..IMO
Blessings,Mountainman (8)=New Beginnings…….for a Sweet ALLIANCE……..
Thunderhawk: Siemens top official: German economy minister visit to Iran ‘very important’
A leading Siemens executive officer said that the upcoming visit to Iran by German Economic Minister Sigmar Gabriel is ‘very important.’
Gabriel, the co-chairman of Iran-Germany economic commission is to meet with his Iranian counterpart Ali Tayyebnia in Tehran on May 2-3.
Commenting on the significance of the German minister’s visit to Iran, Siegfried Russwurm, a member of the managing board of Siemens AG, said the visit aims at deepening Tehran-Berlin lasting bilateral relations following Iran’s landmark nuclear agreement called as the Joint Comprehensive Plan of Action (JCPOA).
Pointing to the fact that Gabriel visited Iran only five days after the historic signing of the JCPOA in Vienna on July 14, 2015, Russwurm said that numerous German politicians and business leaders have already visited Iran over the past months to resume economic ties after lifting of the Iran sanctions.
Russwurm who is to accompany Gabriel on his trip to Iran where both will attend the 5th joint economic commission on Monday and Tuesday, said that German companies have been very determined to jump-start their business activities with Iran.
Elaborating on the upcoming joint economic Commission, Russwurm said talks would focus on various fields of economic cooperation, including health and energy, as well as transfer of technological know-how and vocational training.
Russwurm, the Siemens director for the Middle East and CIS operations, said that the meeting would also dwell on the banking problems, financing models and Iran’s outstanding debts.
On the debt issue, Russwurm expressed optimism that a solution could be found during Gabriel’s visit to the Islamic Republic of Iran. Read more at:
http://www3.irna.ir/en/News/82057559/
Mountainman: As this Monetary Change Moves Closer for Everyone…..Countries like RUSSIA ARE WILLING TO MAKE HUGE STRIDES…..Where as In the Past Deals and Trade Agreements would take Months and Years Depending on the Details being Put together…..
Here Again In the New Reality Countries will Use each others CURRENCIES to Help make TRANSACTIONS Easier and More Valuable….Especially as they become (ASSET BACKED) and the FIAT Side says Bye BYE…….IMO
Blessings,Mountainman (8)=New Beginnings…..In CURRENCIES……
Thunderhawk: Tehran expects Iran, Russia banks to start cooperation soon
Tehran expects that major financial institutions of Russia and Iran will soon start cooperating, said Iran’s Ambassador to Russia Mehdi Sanaei.
He further said that Tehran and Moscow have achieved some positive results in talks on establishing the Russian-Iranian bank. “It is expected that large banks of the two countries will soon begin cooperation,” the ambassador told the Russian Kommersant newspaper.
The diplomat also hoped that the central banks of Russia and Iran would “take effective steps toward national currencies exchange” to promote trade and economic ties between the countries.
Tehran is also interested in Russia’s presence in various investment projects in Iran, the ambassador added.
Most of the large Russian banks severed links with Iranian banks in the past few years amid Western sanctions against Tehran. The sanctions were lifted earlier this year, after the International Atomic Energy Agency released a report in January stating that it had found no evidence of nuclear weapons development in Iran. To read more
http://iran-daily.com/News/150431.html
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Mountainman: Hey DOC……Isn’t shall we say, (INTERESTING)…….How when MAJOR CHANGES are Needed to “BE MADE”……that ELECTIONS
Can be the PIVOT POINT for the CITIZENS w……..CHOICE…Hmmm…….SPAIN……You Too huh…..Whose NEXT……ITALY and the Rest of Course…..IMO
Blessings,Mountainman (8)=New Beginnings…….for an EU…….No More……to E….Say What……IMO
Thunderhawk: Backdoc Alert
Spain’s election re-run would fail to break deadlock: poll
A new election due to be held in Spain on June 26 is unlikely to break the political stalemate to form a government after a previous vote in December produced the most fragmented result in decades, a poll showed on Sunday.
According to the monthly Metroscopia poll published by El Pais newspaper, the conservative People’s Party (PP) of acting Prime Minister Mariano Rajoy would still win the election with 29 percent of the votes, from 28.7 percent in December.
The Socialists (PSOE) would come second with 20.3 percent, down from 22 percent, while anti-austerity Podemos would come third with 18.1 percent, also down from 20.7 percent, and newcomer liberal Ciudadanos would remain fourth with 16.9 percent, up from 13.9 percent. To read more:
http://www.reuters.com/article/us-spain-politics-idUSKCN0XS109
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Mountainman: Do You (REMEMBER) when last Summer the DOLLAR was FLYING HIGH like an EAGLE……Hey…Isn’t that A Song……
Anyway it Rose w/ A Purpose…..to set the Stage and Realities for Emerging Markets/OIL back then……
NOW, We see OIL going Up the DOLLAR going Down and CHINA Pegging itself to Their Gold instead of the DOLLAR…..and Yet it goes Up Friday and the YEN is
Treading Water as The CONTROLLED CHAOS Unfolds…..
Since Values will go from EAST to WEST is CHINA Making a Predetermined Move Here……???….Hmmm…..IRAQ sure is Happy this Weekend…….Pics Show that…..But I digress….Get on Point….I Know….
LOL……The USA and CHINA are Going to Be Working Together {NOT} Against One Another….So IMO…..These TWO will Meet and Have Some Expensive Dinners as The NEW REALITY makes it’s Way Towards Us Here……IMO
Blessings,Mountainman (8)=New Beginnings…..and MANY Await A Public Spectacle…..IMO
Thunderhawk: Double Play!!!
Yen surges again, hitting stocks and dollar
The yen rallied to an 18-month high on Friday as investors wagered the Bank of Japan might be done adding fresh stimulus to the economy, weighing on stock markets around the world.
With Japan on holiday, speculators drove the yen through 107.00 per dollar for the first time since October 2014, Reuters reported.
Often seen as a sign of broader risk aversion among investors, the move coupled with a decline on Wall Street overnight to pushed Asian and European stocks into the red.
US futures pointed to a lower open on Wall Street. Read more at :
http://iran-daily.com/News/140430.html
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Recent rise in yen ‘extremely worrying’
Japan’s Finance Minister Taro Aso said late Saturday the recent sharp rise in the yen is ‘extremely worrying’, adding Tokyo will take action when necessary.
The remarks, which suggest Tokyo’s possible market intervention, came after the Japanese unit surged to an 18-month high against the dollar in New York, AFP reported.
It extended the previous day’s rally, which was boosted by a surprising monetary decision made by the Bank of Japan.
On Thursday, the central bank shocked markets by failing to provide more stimulus, confounding expectations it would act after a double earthquake and a string of weak readings on the world’s number three economy.
The dollar tumbled to 106.31 yen in New York Friday, its lowest level since October 2014, from 108.11 yen. To read more: http://iran-daily.com/News/150556.html
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Mountainman: I’m Just LMBO…….These Guys are So ANXIOUS for this NEW REALITY……that COOPERATION=TRADE AGREEMENTS is Easier than Two Kids Flipping A Coin as to Who Wants to Do the Dishes……..LOL……..Keep it Up……{ALL} will Benefit in this Deal…..IMO
Blessings,Mountainman (8)=New Beginnings…….for New Developments…….
Thunderhawk: India ready to clear $6.5b in Iran’s oil dues but seeks clarity on payment mode
Keen to step up engagement in hydrocarbon sector with Iran, India has conveyed to the Persian Gulf nation that it was ready to clear nearly $6.5 billion of the dues for oil import from that country at the earliest, provided there was clarity on payment channel.
The message has been conveyed to Iran even as Prime Minister Narendra Modi is likely to visit the oil-rich country later this month, Times of India reported on Sunday.
Government sources said there has been a series of discussions at various levels both in Tehran and New Delhi and both sides were confident of resolving the issue soon. “We are working on clearing the dues to Iran and are hopeful that the issue will be resolved soon,” they said.
Following lifting of sanctions against it in January under a historic nuclear deal, Iran had terminated a three-year-old system with India of getting paid for half of the oil dues in rupees and has been insisting on being paid in euros for the oil it sells to Indian refiners. It has also scrapped free delivery of crude oil to Indian refiners.
To read more: http://iran-daily.com/News/150583.html
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Mountainman: Hey Z World…..Who Us….ZIMBABWE….???….Yes You Guys……Are you Ready w/This Kick Off w/us RUSSIANS…..???….We have Need of Your GOODS ……Yes indeed….Here it Comes HARD ASSETS/SECURITIZATION…….and These GLOBAL Countries Know What’s Priority in the Coming Changes for Economies…….RESOURCES are Play A MAJOR ROLE……IMO
Blessings, Mountainman (8)=New Beginnings
Thunderhawk: Russia, Zimbabwe to Start Building Platinum Production Complex in 2016
Russia and Zimbabwe plan to start construction of a joint platinum production complex from July 2016, Zimbabwean Foreign Minister Simbarashe Mumbengegwi said Saturday.
On Friday, Russian Trade Minister Denis Manturov visited the Zimbabwean city of Bulawayo to attend the Zimbabwe International Trade Fair, where Russia is presenting a number of products and services.
“I have been informed that the feasibility study of the project will be ready by July 2016. After that the construction of the first stage of the production complex will begin,” Mumbengegwi said during the session of the Russian-Zimbabwean intergovernmental commission.
http://world.einnews.com/article__detail/country/zimbabwe/324058660-russia-zimbabwe-to-start-building-platinum-production-complex-in-2016?vcode=He_-
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Mountainman: So…..Hey WORLD did You hear Us.???…….We Are [NOT] Budging so Raise the OIL Budgets Where We {ALL} can benefit and Time Will LEVEL things Out for ALL……We are Not Stupid…..STUBBORN Yes……But {NOT} Stupid…….IMO
Blessings,Mountainman (8)=New Beginnings……for BLACK GOLD…….IMO
Thunderhawk: Iran Confirms Plans to Increase Oil Production But Wants Higher Price
Iran will participate in the meeting of the OPEC countries due to take place in early June in Vienna, according to a source in the Iranian Oil Ministry.
Iran will increase oil production to the level that existed before the introduction of the embargo against the country, however, Tehran supports the measures to strengthen the oil prices, a source in the Iranian Oil Ministry said Sunday.
“Our position remains unchanged, we have repeated it many times: we will continue to increase the production [of petroleum] until we reach the level that we had before the embargo. However, we support all the steps that may lead to the strengthening of oil price,” the source said.
The source also confirmed the intention of the Iranian side to participate in the meeting of the OPEC countries due to take place in early June in Vienna.
“Iran will participate. We are always involved and do not miss these meetings,” he said.
http://vestnikkavkaza.net/news/Iran-confirms-plans-to-increase-oil-production-but-wants-higher-price.html
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Mountainman: With the PETRO DOLLAR heading South….The SAUDI’S Recognize their Need to Stay in the OIL COMPETITION Arena….So The OLD FIAT is Squealing as the Air Deflates in it’s tires Ever so Slowly…..TIME is A Wasting S.A. ……So get busy Making Deals before It Cost you in the Long Run…..Pride is A terrible Polarizer of the Worst kind…….IMO
Blessings,Mountainman (8)=New Beginnings……for Saudi Arabia’s OIL…..
Thunderhawk: Saudis ‘Bite Back’ at Russia in the Rush for China’s Oil Market
Russia’s rising rivalry as China’s top crude oil supplier in March has forced the Saudis to do something they’ve never done before – to sell a crude oil cargo to an independent Chinese refinery, its first spot sale to this type of buyer in a sign that the world’s biggest oil exporter is trying to regain lost market share.
Read more here: http://www.ooyuz.com/geturl?aid=11447939
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Mountainman: Smart BANKING Start w/ WISE LENDING PRACTICES…….And Careful Watch to Ones Flow of Capital Coming in as to it’s Going Out
is A Breath of fresh Air as the SBV is Seeing A New Value Coming for the DONG and It’s A New Approach to have BALANCED Lending w/Incentives…..Way to go VIETNAM……IMO
Blessings,Mountainman (8)=New Beginnings……for SAFE and BALANCED LENDING…….
Thunderhawk: Vietnam: Major banks to lower lending rates
Major banks have lowered their lending interest rates following official calls to ease business operations and assist the market.
Prime Minister Nguyen Xuan Phuc and the State Bank of Vietnam (SBV) had called for the rate cuts, before the PM took part in a dialogue with enterprises in HCM City on April 29.
Tran Bac Ha, Chairman of the Bank for Investment and Development of Vietnam (BIDV), said his bank cut rates for short-term loans by 0.5 percentage points, and adjusted the rates for medium to long-term loans to no more than 10 percent per year on April 29.
The adjustments will apply for loans related to production and business activities. Read more at:
http://english.vov.vn/trade/major-banks-to-lower-lending-rates-318667.vov
Mountainman: Hey it’s NOT Fair says Germany……the other EU Countries are Making Deals….What about us….???…..LOL…..Like kids in Grade School huh……Don’t Worry The Banking Issues Will Be Resolved as Timing and Positioning is Rolled Out as Planned…..
So as a Rule Be Patient Work Together w/ Your Business Goals and The Returns on the Agreements will Out weigh the Concerns on How You will get Paid…..Right Now the US is Positioning the Dollar and it’s Interests before the US Banks Open their Doors……So Hang Tough,it Will Be Worth it in The End……IMO
Blessings,Mountainman (8)=New Beginnings…….for Ones INTERESTS……
Thunderhawk: German economy minister due next week
German Vice Chancellor and Economy Minister Sigmar Gabriel is scheduled to visit Tehran on May 2 to attend the Iran-Germany Joint Economic Commission meeting.
This will be Gabriel’s second visit to Iran after last July’s nuclear deal. The trip is aimed at expanding economic relations between the two countries, Fars News Agency reported.
Iran-Germany Joint Economic Commission meeting will be held on May 2-4, for the first time after 15 years. The last meeting was held in 2001.
Gabriel will head an economic delegation representing the country’s major companies.
Read more at: http://iran-daily.com/News/140348.html
