Mountainman: AWESOME ARTICLE Don……..And We Know BASEL 3,The IMF, and {ALL} Other INTERNATIONAL/REGIONAL BANKS CANNOT Possibly DEAL w/IRAQ w/Out a {INTERNATIONALLY} Recognized…..Non-Scam…..TRADEABLE CURRENCY……LOL……
Otherwise A COUNTRY ………[Cannot] Participate on the GLOBAL CHESS BOARD of TRADE……Send this ONE to The BANKS I say…..{ALL} of them…..I certainly have talked w/MANY over the Years……{ALL} the Way Up their “FOOD CHAIN”……So to Speak….and YES In The END they will REALIZE that they too Were MANIPULATED from The TOP DOWN………SAD but TRUE…….IMO
Blessings,Mountainman (8)=New Beginnings……for those Who Said {NEVER} IRAQ/OTHER COUNTRIES……
Don961: the Arab banks need to adjust to international standards … and are studying ways to integrate their policies with them …
Fattouh: militancy in the application of international standards, the most important challenges of the banks .. and integration necessary to mitigate risks
He confirmed and Sam Fattouh , Secretary General of the Union of Arab Banks, the Arab banks and correspondent banks, is facing major challenges in the current period, as a result of militancy in the application of global regulatory standards and economic and trade sanctions, so it is important to discuss ways to Arab banking integration to face the risk among Arab banks ease.
He that the issue of the risk of interest to many international organizations and institutions that are trying to identify a clear concept of it so that they can define their policies to deal with this issue , which has become widespread in recent times of financial institutions, especially banks in assessing, explaining that in this context , be held Union of Arab banks expanded forum on risk assessment in Jordan on May 16, with the broad participation of banks and Arab banks.
He revealed that the Union of Arab banks and the IMF conducted a questionnaire Arab banks to assess how affected by the enforcement of anti – money laundering and terrorist financing laws, and the law Vta, and the application of Basel 3 and the projected results highlight areas which need further analysis, so it looks Union to complete its initiative with the international Monetary Fund, for the adoption of the principle of risk management and not be avoided, and to discuss the lack of a clear understanding by some banks and financial institutions the requirements of international standards to combat money laundering and financing of terrorism.
He said Fattouh, that the forum, which lasts over two days, will discuss the most important and the last thing the amendments on the international and regional initiatives in the light of the negative effects resulting from the fact that some international banks to reduce or terminate correspondent banking relationships with many regional banks, will also discuss the perception of the Arab region at risk correspondent banks, required from the authorities and the role regulatory Arab to reduce the risks that may be exposed to Arab banks easing operations, as well as required from the Arab banks to reduce the risk mitigation operations role
http://economy-news.net/content.php?id=3405
BACKDOC: THE REASON THE IMF IS TELLING THEM THIS IS LIKE I SAID EACH COUNTRY WILL HAVE A FIXED VALUE TO SUPPORT ITS CURRENCY.
TAX REVENUES WILL HAVE TO MATCH EXPENDITURES!
THIS WILL BE VERY DIFFICULT FOR COUNTRIES TO MAKE THIS CHANGE. PRINTING WISHES AND LIVING WITH BUDGET DEFICITS ARE NOW A THING OF THE PAST!
THE FISCAL REPAIR FOR COUNTRIES IS NOW UNDERWAY SINCE THE MAY 8TH LAUNCH! WHEN WILL THEY SHOW IT? DOC IMO
Doodlebug: IMF calls for Greece to cut spending
Economy News / Agencies … He called on the International Monetary Fund and European partners to apply more austerity measures in Greece to provide four billion euros from the country’s budget, in anticipation of the inability to achieve future budget targets.
Greece seeks to cut spending about three percent of the GDP of the country, or 5.4 billion euros, by the year 2018
The Greek Parliament approved a package of austerity measures on taxes and pensions in the country, as it allows access to external financial aid worth five billion euros.
At the same time, the unions objected to the law which provides for the reduction of the retirement highest salaries and the integration of a number of insurance funds and increase financial contributions for retirement, duties and taxes on the owners of medium and large incomes.
And Greece had agreed last year on a third package of bailout worth 86 billion euros in the period, which amounted to the country’s crisis peaked last summer, when he stumbled in its payments and waved out of the Union European.
The measures taken came after a letter addressed to the Director-General of the International Monetary Fund Christine Lagarde Friday, finance ministers from the euro zone in order to move the frozen discussions on the issue of debt reduction.
The issue is more urgent with the approach of the batch is supposed to be paid by Greece, the European Central Bank in July as concerns that lagging Athens for repayment in the event of failure to resolve the issue.
It should be noted that the International Monetary Fund provides resources at the request of member countries and are usually in under an agreement and economic measures specific country in question agrees to implement to resolve the problem of the balance of payments, and assume the member country in consultation with the IMF to identify economic policy program, which is based in the Agreement.
LINK
BACKDOC: YES IT’S ON ITS WAY TO RECOVERY EVENTUALLY BECAUSE PRICES WILL BE CONTROLLED REGARDLESS OF SUPPLY!
THE UNIVERSAL SDR CURRENCY WILL REPLACE THE GOLD STANDARD AND THE DOLLAR AS A BASISI OF VALUE IN THE NEW REALITY! DOC IMO
Doodlebug: Qatari Energy Minister: the global oil market is on its way to recovery
May 10, 2016 13:45
Doha – directly: Qatari Minister of Energy and Industry, and the current president of OPEC, said on Tuesday that the global oil market is on its way to recovery, according to a statement from the Qatari Ministry of Energy.
According to the statement, said Dr. Mohammed Bin Saleh Al-Sada, said that the second quarter of this year saw a marked increase in global demand for oil as a result of an increase in demand for its products, especially for gasoline.
He explained gentlemen, according to the statement, it is expected to continue to rise at rates greater from next month with the start of the travel season and increased demand for motor fuel.
He added, as reported in the statement, that “the global production of oil continues to drop.”
He explained gentlemen, according to the statement, that many of the high-cost production plants close, in addition to the decrease in the number of operating rigs, led to a decline in production in many locations around the world. Also it resulted in the current oil price levels for the weakness of the desire to invest in the sector.
He added, according to the statement, that the market is going in the right direction, and is expected to return to balance in the second half of this year.
It is scheduled to ministers of OPEC members will meet in the Austrian capital Vienna, the second day of the month of June; to discuss the oil market situation and expectations for the future. LINK
Mountainman: As things GLOBALLY {TRANSITION} Over there is as I’ve said in the Past A CONTROLLED CHAOS/CASCADE of FALLS…..w/ {ALL}these Moving Economies it is being Played Out w/ the DOLLAR /PETRO…..Like OIL going Up and Down……
In the End the DOLLAR will DIVE and Not Recover Until it has [It’s] New VALUE…..and that is the STRATEGY and WHY we see Other Markets/Currencies being VOLATILE to these Fluctuations w/ the DOLLAR……
Remember We are the PRIMARY WORLD RESERVE CURRENCY and things have to be done w/ PRECISION of said TIMING to CONTROL the CHAOS at Home in the US and Abroad…..IMO
Blessings,Mountainman (8)=New Beginnings……for a Bumpy Transition……
Thunderhawk: Emerging currencies in longest slide in a year
Emerging-market currencies fell for a seventh day, the longest losing streak since March 2015, as the dollar rallied on the prospect of higher US interest rates and prices of oil and raw materials retreated.
Malaysia’s ringgit slumped to a seven-week low to lead the declines after Brent crude tumbled 3.8 percent overnight, casting doubt over the sustainability of a recent rebound in energy prices. South Korea’s won fell to the lowest in almost eight weeks and a gauge of emerging stocks dropped for an eighth day as data from China and the US added to evidence that global economic growth remains subdued, Bloomberg wrote.
“As the dollar returns to a stronger trend it will certainly affect investor sentiment on emerging markets on concern about fund outflows,” said Thanomsak Saharatchai, the head of research at KT Zmico Securities Co. in Bangkok. “Further declines in oil prices will also have impact on some developing countries that rely on exports of commodities.”
Developing-nation assets have retreated after rallying in the last four months as data pointed to subdued growth in the world’s biggest economies. The Bloomberg Commodity Index has dropped on five of the last six trading days, and Brent oil closed at a three-week low on Monday. The Bloomberg Dollar Spot Index was set to gain for a sixth day following recent remarks by several Federal Reserve officials that US borrowing costs may rise this year.
Philippine election
The MSCI Emerging Markets Currency Index fell 0.2 percent as of 1:57 p.m. in Hong Kong, and has lost two percent in seven days. The ringgit fell 1.2 percent, headed for its weakest close since March 22, and the won lost 0.6 percent. The Philippine peso rose 0.4 percent, the most since March 30, after an anti-establishment candidate claimed victory in Monday’s presidential election.
The Philippine Stock Exchange Index rose for the first time in three trading sessions, bucking the trend for developing-nation equities, after Rodrigo Duterte, the tough-talking mayor of Davao City, sought to calm markets with a call for ‘healing’ as he seeks to win over Filipinos and investors watching closely how he will manage the economy.
Stocks slump
The MSCI Emerging Markets Index fell 0.2 percent to 799.28, headed for the lowest closing level since March 16. Eight of the 10 industry groups in the developing nations’ measure dropped, led by utility and industrial stocks. The gauge has advanced 0.7 percent this year and is valued at 11.3 times the 12-month estimated earnings of its constituents. That compares with a multiple of 15.7 for the MSCI World Index, which has fallen 1.1 percent in 2016.
Chinese stocks in Hong Kong headed for their longest losing streak this year with a seventh day of losses as energy producers slumped. The Hang Seng China Enterprises Index slipped 0.4 percent. PetroChina Co. slid to the lowest level in three weeks after Morgan Stanley downgraded the shares on the outlook for lower oil prices. The Shanghai Composite Index swung between gains and losses after data showed inflation matching economists’ estimates, while factory deflation eased.
http://iran-daily.com/News/151115.html
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Mountainman: Are {OIL PRICES} being Established, as The COLLECTIVE of COUNTRIES get towards the END for BLACK GOLD to Set the VALUES for the SDR Basket of Currencies….???……
It Sure Looks that Way as IRAN,IRAQ, and other Countries are POSITIONED Now for their ENTRANCES to New found VALUES that will Soon Be EXPOSED Publicly…..
Thus The Reason IRAN is {ALL} Aboard….LOL….IMO
Blessings,Mountainman (8)=New Beginnings……for A REAL FIX on For OIL
Thunderhawk: Iran cuts crude prices vs Saudis, Iraq in market share fight
Iran has set its June official selling prices (OSPs) for heavier crude grades it sells to Asia at the biggest discounts to Saudi and Iraqi oil since 2007-2008, raising the stakes in its fight to regain market share.
This is third time Iran has changed price formulas since January, underscoring the need for competitive pricing to push more exports into Asia after international sanctions against it were lifted early in the year, Reuters reported.
In contrast, Saudi Arabia raised its June OSPs for all grades to multi-month highs — outstripping forecasts. Saudi Aramco’s chief executive has said demand for the kingdom’s oil is increasing.
Iran on Tuesday set the June OSP for Iranian Heavy crude at $1.60 a barrel below the Oman/Dubai average, up $1 from the previous month, an industry source with direct knowledge of the matter said.
This still puts Iranian Heavy at 30 cents a barrel below Saudi’s Arab Medium grade — the biggest discount between the two crudes since 2007, trade data showed.
Against Iraq’s flagship Basra Light, Iranian Heavy is 20 cents a barrel cheaper — the widest gap since 2012, the year that sanctions hit Iran’s oil exports.
Tehran typically adjusts its crude price formulas to Asia at the beginning of each quarter following negotiations with clients. However, this year it has changed at least some of its crude pricing formulas in March, April and June.
The changes helped to boost its exports to Asia by 50 percent in March from a year ago even though lingering sanctions posed difficulties for buyers in paying for and shipping Iranian oil.
The June OSP for Forozan Blend has also fallen to the largest discount against Arab Medium since the fourth quarter of 2008, data showed.
Iranian Light remained at 25 cents a barrel above Arab Light in June, or $0.50 above the Oman/Dubai average.
http://iran-daily.com/News/151131.html
BACKDOC: WITH THE EVENTUAL SAUDI DE-PEG FROM THE DOLLAR WE MAY SEE CHINA BE THE BIGGEST CUSTOMER STATUS CONTINUE WITH CHINA.
ITS ALSO LOGICAL WE WILL SEE OIL SETTLEMENTS IN THE YUAN!
DON’T FORGET THE BRITISH POUND IS ALSO LOOKING FOR STABILITY AND THE UK IS THE LARGEST FOREIGN YUAN EXCHANGE CENTER IN THE WORLD!
WE MAY SEE A NEW ALLIANCE DEVELOPING AS I PREDICTED! DOC
Thunderhawk: Saudi Aramco Energy Company Expects Oil Demand to Grow – CEO
Saudi Aramco CEO said that Saudi state-owned energy company expects oil demand to grow this year by 1.2 million barrels a day.
The Saudi state-owned energy company Saudi Aramco expects oil demand to grow this year by 1.2 million barrels a day, Saudi Aramco CEO Amin Nasser said Tuesday.
“We are seeing increases in India, in the US, and we are meeting that call on us,” he was quoted as saying by the BBC.
According to Nasser, Saudi Aramco plans to maintain its presence in the world oil market. The company has plans to expand internationally and is currently looking at a number of joint ventures in various countries, including the United States, India, Vietnam and China, said Nasser.
In 2014, Saudi Arabia’s economy was hit badly by the significant drop in oil prices.
In April, the Saudi government approved a reform plan aimed at reducing economic dependence on oil revenues. Recently, the country’s Petroleum and Natural Resources Minister Ali Naimi was dismissed. Amin Nasser’s predecessor as Saudi Aramco CEO Khalid al-Falih was appointed to replace him.
http://peoplenetv.com/saudi-aramco-energy-company-expects-oil-demand-to-grow-ceo/
