BACKDOC: WELL THUNDER, DO I SMELL THE HINT OF MONEY FLOW BEGINNING TO HAPPEN WITH IRAN? MMMMM
FIRST THE U.S. TAKING MONIES THEY FEEL OWED. NEXT WE SEE MODI FROM INDIA GETTING PAID OFF. AND NOW SEE WE ACTION WITH THE SWIFT PAYMENT SYSTEM WHEN A WEEK OR TWO AGO IT WAS ALL UP IN THE AIR!!
THIS I HAVE TO SAY IS EXCITING.
IF IRAN IS STARTING TO MOVE FUNDS AGAIN I PREDICT THE CBI OF IRAQ WILL ACT IN CONCERT THE TWO SHIA BROTHERS COULD BE SEEING NEW BEGINNINGS ON THE 8th IF ITS OK JACK! Hee Hee
I STILL SAY THE NEW FISCAL YEAR OF THE IMF IS A BIG DEAL! IF IM RIGHT JACK JACK JACK DID SOMETHING ON THE 28 th.
I WOULD SAY THAT WOULD BRING AT LEAST TWO BIG SHIPS IN ON NEW BEGINNINGS THUNDER!
TIME WILL TELL. WE STUDY! DOC IMO
Mountainman: Well IRAN…….Where there is A WILL……There is A WAY…….And We {ALL} Know How (STRONG-WILLED) You guys Are…..So how did this Happen If SWIFT wasn’t Working for You…..???…..Hmmm
Blessings,Mountainman (8)=New Beginnings……In A SWIFT Kick in Ones Posterior…..LOL
Thunderhawk: €51m of Iran firm shares sold via SWIFT
Iran said a foreign company has purchased 30 percent of one of its leading detergent producing brands for a total value of around €51 million through SWIFT – what is already seen as a breakthrough move in the country’s stock market.
The purchase has been carried out through Iran Fara Bourse (IFB) – also known as Farabourse – which is an over-the-counter market for securities and other financial instruments in Tehran, Press TV reported.
The IFB said on its website that the foreign company has made the payment through mechanisms provided by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
The name of the company and the details of its purchase have not been specified by the IFB. However, speculations are already rising in Iran’s media that the foreign company that has made the breakthrough purchase is Germany’s Henkel – one of the largest household and personal care manufacturing companies in the world. The company whose shares Henkel has purchased is Pakvash – is believed to be its local partner in Tehran.
Henkel Pakvash is a publicly listed company in Tehran Stock Exchange and producers household chemicals including detergents.
The fact that Henkel’s purchase has been carried out through SWIFT could be a landmark move to prove that the mechanism is operating after the removal of the sanctions against Iran.
Based on a multiple-year regime of sanctions, SWIFT had been blocked to Iran. The blockade, however, was removed when the sanctions against Iran were lifted in January.
http://iran-daily.com/News/150866.html
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BACKDOC: THUNDER THIS IS IT! TIME TO MAKE THE DONUTS BOYS!
THEY ONLY LEFT OUT ONE DETAIL, WHAT DAY ARE THEY GOING TO CLEAR THESE FUNDS? WELL THEY ALWAYS HAVE TO START AT THE BEGINNING DONT THEY! Hee Hee
ITS BEEN A PLEASURE TO SEE THIS PROJECT COMPLETE. THIS IS OBVIOUSLY IN PLAY! WOW! DOC IMO
Mountainman: As This New Reality {TRANSITIONS}, Are (NOT) Just “EYE WEAR” to A Future of NEW LIFE……This Right Here Sure IMPLIES an AGREEMENT of SETTLING These Debts here Are Underway……Just In TIME to SHINE the Light on TRANSACTIONS w/IRAN and Other Countries thru SWIFT……..The Debt Levies Have Been shall We Say…….FINALLY LEVELED…….As In the Highlighted Part of the ARTICLE,
No Mention of A DATE/TIME……But IMO…..It’s TIME and that’s {WHY} there is Now the Implied KEY WORD of A …………..=CONVERGENCE…… IMO
Blessings,Mountainman (8)=New Beginnings…….for in Two Days…..Yup SUNDAY the 8th=NEW BEGINNINGS…….IMO
Thunderhawk: India, Iran to clear $6.4b in oil payments via European banks
The central banks of India and Iran reached an arrangement to use European banks to process pending oil payments to Tehran, India’s Oil Minister Dharmendra Pradhan told Reuters, unlocking $6.4 billion in stalled funds.
Buyers of Iranian oil were prevented from using global banking channels to clear their transactions after sanctions were imposed on Iran in 2011. With the end of those sanctions in January, after an agreement to modify its nuclear program, Iran is finally gaining needed access to the funds.
Indian refiners have been holding 55 percent of its oil payments to Iran after a route to make payments through Turkey’s Halkbank was stopped in 2013, although payment of some of those funds was allowed after an initial temporary deal to lift the sanctions.
“There is an agreement between (India and Iran’s) central banks. European banks will be the clearing agent. They will be dealing with Iranian banks and we have to pay those European banks,” Pradhan told Reuters in an interview.
He did not elaborate further, saying the Finance Ministry was dealing with the issue.
Also because of the previous sanctions, Indian refiners have been depositing 45 percent of their oil payments to Iran in rupees with India’s UCO Bank.
Tehran has been using the funds, currently about 130 billion rupees ($1.95 billion) to import non-sanctioned goods from India.
Indian government sources said during Pradhan’s visit to Tehran last month Iran had asked India to consider clearing the oil payments through Europaeisch-Iranische Handelsbank (EIH) of Germany, Central Bank of Italy and Halkbank of Turkey.
One of the sources said the Reserve Bank of India (RBI) has ruled out channeling funds through Halkbank.
“Halkbank’s Iran-related foreign trade activities with Iran have been carried out since 2004 … Halkbank will continue its operations in accordance with international law,” a senior Halkbank official told Reuters.
No immediate comment was available from EIH and Central Bank of Italy.
The government sources said Indian refiners will remit funds to Iran through state-owned UCO Bank.
Reserve Bank of India Governor Raghuram Rajan said on April 5 India will make payments to Iran in a staggered manner.
“Oil companies are working out the banking arrangements in coordination with Iranian counterparts and payments will be made by them presumably over time with minimal impact on the market,” an RBI spokesperson said on Thursday.
Despite the sanctions, India continued its engagement with Iran and was among a handful of countries that sourced oil from Tehran.
Iran was India’s second-biggest oil supplier before the sanctions hampered its trade relations. The country is set to import at least 400,000 barrels per day of Iranian oil in the year from April 1.
http://iran-daily.com/News/150852.html
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Thunderhawk: So Doc is all this merchandise Free or does someone have to pay for it?
and if so with what? GUMMY BEARS ?
BACKDOC: WELL IRAN WAS GOING TO PAY IN NUCLEAR MATERIAL BUT THEY HAD TO SRATCH THAT IDEA ONCE THEY REMEMBERED THE DEAL. HEE HEE
SERIOUSLY, IT LOOKS LIKE THE FAUCET IS BEING TURNED ON AND IF IRAN IS LUCKY THEY MAY SEE SOMETHING FLOWING AT THE END OF THE GARDEN HOSE BY SUNDAY IF THEY ARE SWIFT ENOUGH! BAAA haaaa. Swift code HEE HEE DOC IMO
Mountainman: Well GUMMY BEARS won’t Even Touch This…….LOL…..but I WILL…..I Like GUMMY BEARS…..Mmmm…..Ok….Seriously though
IRAN is Waiting in the Wings….as A Financial Break Thru is About to Happen…..Many of these Countries…..Including IRAQ….Hmmm Are In LINE for INTERNATIONAL Settling Thru SWIFT…….
The DAM is About to Burst….Everyone knows it and DEALS and Contracts will Be Facilitated and That is One of MANY Reasons (WHY) IRAN is throwing Tantrums……Hang Tough IRAN You and your SHIA BRO can WALK Together Real Soon……IMO
Blessings,Mountainman (8)=New Beginnings…..for A BOAT LOAD of Countries……
76% of Iran exports bound for 10 countries
Iran made 76 percent of its exports excluding gas condensates to 10 countries from among 153 countries in the year to March 19.
Based on Trade Promotion Organization’s statistics, the value of Iran’s exports to 10 countries of China, Iraq, the UAE, Afghanistan, India, Turkey, Italy, Turkmenistan, Pakistan and Oman was $27.2 billion in the period, down by four percent compared to the figure for its previous year, IRNA reported.
The UAE imported goods worth $4.922 billion from Iran, 13.7 percent of the country’s total exports, registering a 31 percent increase compared to the figure for the year earlier.
Turkey and Pakistan imported goods worth 1.314 billion and $635 million from Iran respectively last year.
China and Iraq were the first and second importers from Iran which imported goods worth $7.228 billion and $6.206 billion respectively in the one-year period.
http://iran-daily.com/News/150855.html
BACKDOC: THE DEFLATION SPIRAL IS NOW WELL IN PLAY. WE ALL CAN NOW SEE THAT GLOBAL RISKS ARE MORE THAN JUST POSSIBILITIES. THEY APPEAR INEVITABLE.
SO LETS BREAK DOWN SOME ISSUES THAT WILL INFLUENCE THE GREATEST RISK SHALL WE?
WE ALL KNOW THE BREXIT VOTE ON JUNE 23rd IS ON ITS WAY. THREE DAYS LATER WILL BE ANOTHER VOTE IN SPAIN FOR CATALONIA TO SECEED. AND LETS NOT FORGET TO MENTION THE GREECE FIASCO.
ON TOP OF ALL THAT WE HAVE THE SHENGENG AGREEMENT IN TATERS! IS IT ANY WONDER THE EU AND THE UNBACKED EURO IS AT RISK OF FAILURE?
IS IT ANY WONDER WE HAVE TURBULENT UNSTABLE WATERS? DOC IMO
Thunderhawk: ECB should change course before it is too late
Over the past century, central banks have become the guardians of our economic and financial security. The Bundesbank and Federal Reserve, for example, are respected for achieving monetary stability, often in the face of political opposition. But central bankers can also lose the plot, usually by following the economic dogma of the day. When they do, their mistakes can be catastrophic.
In the 1920s, the German Reichsbank thought it a clever idea to have 2,000 printing presses running day and night to finance government spending. Hyperinflation was the result. Around the same time, the Federal Reserve stood by as more than a third of US bank deposits were destroyed, in the belief that banking crises were self-correcting. The Great Depression followed.
Today, the behavior of the European Central Bank suggests that it too has gone awry. When reducing interest rates to historically low levels did not stimulate growth and inflation, the ECB embarked on a massive program of purchasing eurozone sovereign debt. But the sellers did not spend or invest the proceeds.
Instead, they placed the money on deposit.
So the ECB went to the logical extreme: It imposed negative interest rates. Currently almost half of eurozone sovereign debt is trading with a negative yield. If this fails to stimulate growth and inflation, “helicopter money” will be next on the agenda. Future students of monetary policy will shake their heads in disbelief.
What is more, as purchaser-of-last-resort of sovereign debt, the ECB is underwriting the solvency of its over-indebted members. Countries no longer fear that failure to reform their economies or reduce debt will raise the cost of borrowing. Six years after the onset of the European debt crisis, total indebtedness in the eurozone keeps on rising. Badly needed reforms have been abandoned.
As a result, the eurozone is as fragile as ever. Safe keepers of our wealth, such as insurance companies, pension funds and savings banks barely earn a positive spread. Inflation is just above zero, well below the ECB’s defined target. And with growth anemic, debt levels in some countries, such as Italy, are not sustainable.
Worse still, the ECB is failing in its other mandated duty — to promote stability. Popular opposition to low and negative interest rates, when combined with continuing high unemployment, is fomenting anger with the European project. Even if current policy eventually results in an overdue recovery, political pressure is unlikely to abate.
Monetary policy, therefore, has become the number one threat to the eurozone. This might seem counterintuitive, given the ECB’s famous readiness to ‘do whatever it takes’ to preserve the common currency. But trying to stimulate growth and inflation with ever-lower rates and bond purchases, while at the same time removing incentives for structural reforms, risks an unstoppable downward spiral.
Negative rates signal to the average consumer or small or medium-sized company that things are dire. Such uncertainty means people save more and capital expenditure remains stagnant. Capital supports businesses that would not be viable under normal conditions. Households without financial assets are hardest hit, while those owing equity-portfolios or property benefit from increasing asset prices.
It did not have to be this way. Governments could have enacted reforms. The ECB should never have usurped the role of savior of the eurozone and its president is disingenuous to blame politicians for failing to act. It is he who enabled them to postpone the hard choices. Further, the longer monetary policy prevents the necessary catharsis, the more it contributes to the growth of populist or extremist politics.
What should be done? The priority is breaking the negative spiral of lower confidence engendered by ever-looser money. The ECB needs to begin reversing its policy of negative interest rates. Moving back into the black would raise confidence across the eurozone.
This has to be accompanied by a return to a market — and risk-based pricing of sovereign risk, which would offer governments incentives to undertake structural reform. The ECB has to leave it to the politicians to deal with the debt crises that would inevitably follow in certain member countries.
Rarely has an institution held such sway over the economic and political future of an entire continent. But this is not the time for slavishly following a doubtful economic dogma — it is the time for common sense. The longer the ECB persists with unconventional monetary policy, the greater the damage to the European project will be.
http://iran-daily.com/News/150841.html
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Thunderhawk: Speaking of ships ?
BACKDOC: TURBULENT WATERS IS AN UNDERTOW OOPS I MEAN UNDERSTATEMENT. HEE HEE
IF WE DONT FIND SOME HUMOR WE WILL ALL BE CRYING! SLAP!
IM OK NOW!
BY ALMOST ANY MEASURE THE FINANCIAL BOAT IS SINKING. WHAT DO YOU THINK THE LIFEBOAT IS?
GOLD? SILVER? AHHHH NO!
EMERGING COUNTRY ASSET BACKED CURRENCIES! IMO SOME THAT MAY BE DONOR CURRENCIES TO THE SDR! DOC IMO
Mountainman: Yes {ALL} MARKETS are On (THIN ICE)…….and WHAT we have Here is A CONVERGENCE of MULTIPLE REALITIES……Couple that w/the DEFLATION of the DOLLAR COLLIDING w/ INFLATION and This Could Turn Out to be A MAJOR DISASTER,worse than The TITANIC……
It’s Understandable as Many in Financial Arenas See the Disaster, But Have Very Little if “ANY” Understanding at All Concerning the NEW VALUES on CURRENCIES Coming to A DOC….Sorry About that DOC….I Mean {DOCK} Near You……
In the Mean time It is A Necessity for What is TRANSPIRING on ALL the GLOBAL SEA STORM FRONTS…..
And (THOSE) =12/1 at the HELM Know Exactly What, When, Why, and HOW…….(THEY) are NAVIGATING these Troubled Waters that are taking 188+Countries into UNCHARTERED and Yet Mapped Out/CHARTERED Waters……
However,Like the TITANIC as The End Approaches for the FIAT SYSTEM there will be Tumultuous/Treacherous Waters that will IMPACT {ALL} One Way or Another……the DIFFERENCE is The {TRANSITION} will NOT be ONE of DEATH……but will be ONE that Rejoices to A New Found VALUE Based On A Countries TRUE VALUE=Their ASSETS/RESOURCES, and TRADE ……..No LONGER will the FIAT DOLLARS DEBT be ONE that SINKS GLOBAL SHIPS/A COUNTRIES CURRENCY or their ECONOMIES…….A LIGHTHOUSE is in Ones LINE of SIGHT…..Yes A BEACON of HOPE……
Thus The NEW REALITY will OPEN MANY Windows of HOPE and PROSPERITY for Those Who……..are RIDING the STORM OUT………
LOL……Reminds Me of An Old 80’s SONG…….So Hang Tough….Hold On to Your……ASSET(BACKED) CURRENCIES and Be PATIENT after the TRANSITION……for MANY AWAIT to PREY on Your PRAYERS thru this TITANIC JOURNEY……Do you Get it ???
Yes I {Know} You Do……INDEED……and that’s WHY We Do What We Do……{ALL}…..
Blessings,Mountainman (8)=New Beginnings……for those Who are “RIDING the STORM OUT”……..
Thunderhawk: Global economy like ‘Titanic’ about to sink
There are cynics, there are naysayers, and then there’s Albert Edwards of Societe Generale, who is in a League of Doom all of his own.
Edwards is probably the most notoriously bearish analyst in the world of finance, and is given to grand proclamations about the (broken) state of the world, Business Insider wrote.
So far this year he has predicted a ‘tidal wave’ of corporate defaults in the US; argued that central bankers are going to destroy the global economy and plunge the world into chaos; and said that we could concrete over the whole of Britain and house prices would keep rising.
The economist’s latest gloomy prediction, in Societe Generale’s weekly Global Strategy note to clients, is that the global economy is, like the ‘Titanic’, about to “sink below the icy waves.”
Edwards said that US companies are using the recent weakening of the dollar to paper over serious problems in their businesses and it’s akin to “a shuffling of deckchairs on the Titanic before the global economy sinks below the icy waves.” In other words, mindless busywork before a massive crash.
Here’s what Edwards has to say on the falling dollar (emphasis ours):
The dollar’s recent rapid slide has been accompanied by a constant backdrop of dovish cooing from the Fed. Until this week, both equity and commodity markets had embraced the weak dollar as the elixir to solve all their ills. That relief has now proved fleeting as fear of weak economic activity has reasserted its influence on investors. The weak dollar should be seen as merely a shuffling of deckchairs on the Titanic before the global economy sinks below the icy waves.
The dollar index, which tracks the greenback against a basket of the world’s most important currencies, has slipped nearly five percent since the start of March, falling rapidly after a period of immense strength. That weakness buoyed investors, pushing up commodity prices and stocks across the board.
However, in recent weeks, markets have started to stutter thanks to the “fear of weak economic activity” Edwards mentions in his report.
Here’s the perma-bear once again:
Risk assets are once again refocusing on the increasingly dismal prospects for global growth rather than the short-term relief of dollar weakness. The US remains the main concern, although the rapid unraveling of Abenomics in Japan and a likely imminent tightening of monetary policy in China to snuff out yet another housing bubble in the major cities also feature high on investors worry list.
But it is in the US that growth concerns remain most intense, with renewed weakness in the manufacturing ISM as we move into Q2 following on from the moribund 0.5 percent qoq Q1 GDP outturn.
Edwards also rounds on the US Federal Reserve, asserting that it doesn’t actually care about global risks, but is more concerned about preserving the strength of the S&P 500. Edwards also calls the central bank ‘impotent’:
The sad thing is that the Fed has boxed itself into a corner, for surely it is clear to all in the markets by now that it’s not ‘global risks’ that worry the Fed but the impact on the S&P. But all the Fed’s loosey goosey will prove irrelevant as the cycle ends. Get ready to suck it up as the inevitable recession demonstrates the Fed’s total impotence.
And here’s the chart Edwards says proves it, showing that the Fed has said it is ‘concerned’ about global risks during all recent troughs on the S&P, but has not said it is concerned when it’s doing well.
It ends with social unrest and double digit budget deficits (again). It ends with investors losing faith with the Fed as the resumption of QE proves ineffective in reviving the economy. It ends in deeply negative interest rates, currency and trade wars, helicopter money and ultimately inflation. In a nutshell, it ends badly.
http://iran-daily.com/News/150842.html
Thunderhawk: BINGO!!!!
VIETNAM: Firms adapt to anti-dollar drive
Domestic firms have taken the first measures in an effort to adapt to the State Bank of Vietnam (SBV)’s new regulation on tightening foreign currency credit.
Under Circular 24/2015/TT-NHNN, commercial banks are no longer allowed to provide lending in foreign currency to firms which do not need it for offshore payments since March 31 this year. The tightening in foreign currency credit is aimed to step up the central bank’s anti-dollarisation drive.
SBV said that the new regulation affects only those firms which often obtain foreign currency loans from banks and will later convert them into dong to fund their domestic production.
The new rules on foreign currency loans are expected to stabilise exchange rates and strengthen the dong. However, it also has side effects on firms, especially agriculture and seafood exporters, which often take loans in foreign currencies to meet their great funding demand. Read more at:
http://english.vov.vn/economy/firms-adapt-to-antidollar-drive-318712.vov
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Mountainman: BLESSINGS on those RIDING the STORM OUT…….Here is An Oldie but A Goodie………MM
https://youtu.be/4T5gjIiLRCg
