INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

**Carol** Fri Mar 18, 2016 7:37 pm

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Post n°626

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Mar 18, 2016 7:37 pm

The Sharing Economy Is Absolutely Blowing Up in China
The sharing economy in China is absolutely exploding.

It was already worth about $299 billion (1.956 trillion yuan) in 2015 and it’s expected to grow at an annual rate of 40 percent over the next five years, according a new report from China’s government think tank called the National Information Center.

By 2020, the sharing economy will be worth 10 percent of China’s gross domestic product, according to a summary of the report. (The full report is only available in Chinese, which, sadly, this reporter doesn’t read.)

The sharing economy is a relatively fluid term including businesses that depend on technology connecting people who need a particular service or product with somebody else who has that service or product available. Sharing-economy businesses favor accessibility over ownership. The most popular examples in the U.S. include Airbnb and Uber, but in addition to lodging and transportation, the sharing economy also includes the exchange of knowledge, skills and production capacities, according to the report from China’s National Information Center.

Currently, there are 50 million people working in the sharing economy in China, which is equivalent to 5.5 percent of the total working population, according to the report. There are 500 million people who are customers of the sharing economy in China.

Uber, even as it dominates the U.S., has certainly met its match with Chinese ride-sharing company Didi Kuaidi. The Chinese Uber competitor has recently been valued at $7 billion based on a $2 billion funding round closed in January.

Over the next decade, China will grow between five and 10 similarly massive Internet sharing economy companies, according to the report.

To be sure, these kind of estimates are a bit inspirational. China wants to motivate its own entrepreneurial community with these sorts of lofty ideals and the best part about predictions in a new industry is that there’s really no way to prove if they are accurate or not. Even still, the confidence that China’s government agency is pumping out is noteworthy.

http://www.entrepreneur.com/article/271903

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Fri Mar 18, 2016 7:53 pm

Carol

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Post n°627

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Mar 18, 2016 7:53 pm

IMF Launches Debate on the Future of the International Monetary System

The IMF is embarking on a study to understand the challenges facing the international monetary system, identify the system’s shortcomings, and lay the basis for reform.

The international monetary system is the framework that facilitates the exchange of goods, services, and capital among countries and sustains sound economic growth. To be effective, this framework must balance the needs of individual economies and the system as a whole—and do this over time, as economic and financial relationships change.

In an interview, Siddharth Tiwari, Director of the IMF’s Policy, Strategy, and Review Department, discusses the new study, the main challenges facing the international monetary system today, and how he sees the IMF’s role going forward.

IMF Survey: Why has the IMF decided to undertake this work now?

Tiwari: The IMF is at the center of the international monetary system—many people see the Fund as the system’s guardian. The last regular review was done in 2011, and a lot has happened at the IMF—and in the world—in the intervening years. At the Fund, financial sector surveillance has been strengthened, integrated surveillance decision was introduced, spillover analysis was broadened along with other work on interconnectedness, and we’ve overhauled our lending toolkit and sharpened our focus on risks and vulnerabilities.

The IMF’s firepower has also increased, to about $1 trillion. Quotas were increased, the New Arrangements to Borrow were brought on stream, and bilateral borrowings were undertaken. So it is time to review the system again.

IMF Survey: What is your diagnosis of the international monetary system today? Is it working?

Tiwari: A series of structural shifts is taking place in the global economy, and the confluence of these shifts is raising tensions and risk.

First, although current account imbalances have shrunk in the post-crisis period, this phenomenon mainly reflects the compression of demand in advanced economies. So the problem of current account imbalances is still with us.

Second, the central role of one or two major reserve currencies means that developments in one economy can have significant impact on others, constraining domestic policy choices.

Third, as economies become more interconnected, episodes of capital flow volatility are becoming a permanent part of the landscape.

Fourth, while a lot of work has been done on the financial sector side—especially on financial institutions and the transmission of risk—nonbank financial institutions have become significant players, and that needs to be taken into account.

And finally, three reserve currency areas—the United States, the euro area, and Japan—
will need, over time, to transition out of unconventional monetary policy, which will create a period of volatility for emerging markets. The global financial safety net will thus need to be strengthened.

IMF Survey: What emerging challenges do you see on the horizon for the international monetary system?

Tiwari: A key challenge is that post-crisis growth in advanced economies needs to be raised. When we were at the epicenter of the crisis, emerging markets managed to remain anchored by using their buffers, and it was expected that there would be a “handoff” of sorts from emerging markets to advanced economies in a few years. But that handoff is not happening.

A related issue is to ensure that the dream of globalization—that living standards in emerging markets and developing countries would, over time, converge to those in advanced countries—is not lost.

A further challenge is China’s re-balancing, which needs to happen. Growth will be lower, but likely safer (although this will inevitably have consequences for other economies).

Then there is the historic commodity price decline that necessitates adjustment for oil-producing countries in the Middle East and other commodity exporters, which need to find a new business model.

Finally, there are differences in monetary conditions in the world’s major economies. This asynchronous monetary policy among the United States, Europe, and Japan signals continued volatility. I would see these as the major issues ahead of us.

IMF Survey: What role should the IMF play in the international monetary system going forward?

Tiwari: The Fund remains at the center of the system. As we monitor our member countries’ economies, we must ensure that imbalances do not emerge in different parts of the world—especially the buildup of financial imbalances. We also need to ensure that emerging markets integrate into the international monetary system so that they achieve higher living standards. Financial development and deepening will be important for many member countries, especially in periods of greater market volatility.

Markets can be unforgiving for emerging markets right now. The process of convergence will involve emerging markets running small current account deficits over a period of time and making use of capital inflows to finance those deficits. So inflows need to be more stable for a longer period of time, and we should look at how to make them safer. Part of the solution lies with macroprudential policy; part will lie in the balance between debt and equity.

The IMF’s contribution will also include the provision of an adequate global financial safety net. This safety net, or lending framework, has to respond to three needs for the global economy: encourage better policy making, finance adjustment at a reasonable pace, and provide insurance to “innocent bystanders” who may be affected. Another level of the safety net is regional financing arrangements, such as the Chiang Mai Initiative, and the IMF needs to find a way to work more closely with them.

So while the Fund is at the center of the international monetary system, we are part of a larger system with central banks and other standard-setting agencies. Our role is to provide analysis and a shared understanding, but the onus will lie on the membership to take reform forward.

IMF Survey: What are the next steps for the IMF’s work in this area?

Tiwari: We just had an initial discussion at the IMF Executive Board on the role of the IMF in the international monetary system. Three work areas were identified that were already in the work program: how to make capital flows safer, a strengthened global financial safety net, and the role of the SDR (Special Drawing Rights).

The first issue will comprise different phases. The first phase is to take stock of capital flows—their volatility and direction. The second phase, to take place mid-year, will involve taking stock of country experiences in dealing with capital flows in the context of the IMF’s institutional view. And the third phase, to start toward the year’s end, will examine what we’ve learned from country experience and whether the institutional view needs to be revisited.

On the global financial safety net, there will be a stocktaking paper to be discussed in the coming weeks, followed by a paper on the size of the IMF. Both papers will be the backdrop to the subsequent quota discussions. In this stream of work, we will consider whether our safety net is adequate to protect every segment of the membership during periods of crisis.

Lastly, with the addition of the Chinese renminbi to the SDR, our membership is asking us to examine the broader use of the SDR in the international monetary system, and that’s something that we will do in the months ahead.

IMF Survey: What do you expect the most difficult issues to be in terms of political buy-in and support?

Tiwari: Having countries agree on a framework to make capital flows safer will be among the issues that will require a lot of work. But this is essential and goes hand in hand with a stronger global financial safety net.
END

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Sat Mar 19, 2016 10:32 am

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Post n°628

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sat Mar 19, 2016 10:32 am

THE WALL STREET JOURNAL".   Global Currencies Soar, Defying Central Bankers

From Japan to Norway, currencies are rising despite policies aimed at weakening them

By MIN ZENG and IRA IOSEBASHVILI

Updated March 17, 2016

Efforts by many of the world’s central banks to weaken their currencies are failing, raising concerns about whether policy makers are losing the ability to wield control over financial markets. This was the case again in Japan on Thursday, when the dollar fell 1.1% against yen, to ¥111.39. Despite the Bank of Japan’s efforts to push down its currency and jump-start the economy with negative interest rates, the yen is up 8%...

To Read the Full Story, Subscribe or Sign In

More: http://www.wsj.com/articles/global-currencies-soar-defying-central-bankers-1458258134

Purifiers : Global Currencies Soar, Defying Central Bankers
FX Market 1, Central Bankers 0
Updated March 18 2016 6:42 am GMT

    Efforts by many of the world’s central banks to weaken their currencies seem to be failing, raising concerns about their ability to wield control over financial markets.

    Despite the Bank of Japan’s efforts to push down the yen and jump-start the economy with negative interest rates, the yen is up 8% this year and at its strongest level against the dollar since October 2014.

    The euro is up 4.2% despite the European Central Bank’s move to cut interest rates further last week, WSJ reports.

    The exceptionally low rates in response to the financial crisis have created market distortions. Even if investors can predict central banks’ actions, they can’t necessarily predict how the markets will react.

        “There is a rising concern that central banks are testing the limits of their policies. Each time you take a tool out of the tool kit, it gets closer to being empty.”
        Brian Daingerfield, a currency strategist at RBS Securities

Read More: http://blogs.wsj.com/moneybeat/2016/03/18/wsj-city-fx-market-1-central-bankers-0-bt-brings-in-new-fd/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Sat Mar 19, 2016 9:49 pm

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Post n°629

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sat Mar 19, 2016 9:49 pm

THIS IS HOW VENEZUELA EXPORTED 12.5 TONNES OF GOLD TO SWITZERLAND ON MARCH 8, 2016 VIA PARIS
Following on from last month in which BullionStar’s Koos Jansen broke the news that Venezuela had sent almost 36 tonnes of its gold reserves to Switzerland at the beginning of the year, “Venezuela Exported 36t Of Its Official Gold Reserves To Switzerland In January“, there have now been further interesting developments in this ongoing saga. It has now come to light that on Tuesday 8 March, the Banco Central de Venezuela (BCV) sent another 12.5 tonnes of gold by air freight to Switzerland (via Paris), and fascinatingly in this instance, the exact details of the transfer are already available, including the cargo manifest, courtesy of Venezuelan newspaper El Cooperante which broke the news on 11 March. As per the January gold exports to Switzerland, which most likely were part of a gold swap to generate much-needed financing for the crisis-ridden Venezuelan economy, this latest shipment appears likewise.

More: http://www.blacklistednews.com/This_Is_How_Venezuela_Exported_12.5_Tonnes_Of_Gold_To_Switzerland_On_March_8%2C_2016_Via_Paris/49886/0/38/38/Y/M.html

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Sun Mar 20, 2016 11:32 am

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Post n°630

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Mar 20, 2016 11:32 am

Businesses willing to stop borrowing in foreign currencies
VietNamNet Bridge - Contrary to predictions, businesses have remain unruffled though they have been told to stop borrowing money in foreign currencies in the second quarter.
http://english.vietnamnet.vn/fms/business/152466/businesses-willing-to-stop-borrowing-in-foreign-currencies.html

China Development Forum 2016
http://www.ebrd.com/news/events/china-development-forum-2016.html

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Sun Mar 20, 2016 2:45 pm

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Post n°631

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Mar 20, 2016 2:45 pm

Iraq Exports First Natural Gas Shipment in Its History..By THE ASSOCIATED PRESS MARCH 20, 2016...

BAGHDAD — Iraq on Sunday exported the first shipment of natural gas in its history, a key development for the OPEC member struggling to feed a cash-strapped economy amid an expensive fight against the Islamic State group.

The move revives a long-sought ambition by Iraq to be a gas exporter, thanks to a joint venture with Anglo-Dutch Royal Dutch Shell PLC and Japan's Mitsubishi Corp. Iraq first planned to begin exporting gas in the late 1970s, but that timeline was delayed by the Iraq-Iran war when Iraqi export ports were bombed.

A Panama-flagged gas carrier sailed Sunday afternoon from Iraq's southern port of Umm Qasr on the Persian Gulf with a cargo of about 10,000 standard cubic feet of gas in the form of condensates, Oil Ministry spokesman Assem Jihad said.

Jihad wouldn't reveal how much the cargo was worth or the buyer, but he added that the next cargo will be shipped by the end of this month.

In November 2011, Iraq signed a $17 billion deal to form a joint venture to gather, process and market gas from three oil fields in the oil-rich province of Basra. The fields are the 17.8 billion-barrel Rumaila, the 4.1 billion barrel Zubair field and the 8.6 billion barrel West Qurna Stage 1.

http://mobile.nytimes.com/aponline/2016/03/20/world/middleeast/ap-ml-iraq-gas.html?referer=https://www.google.com/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Sun Mar 20, 2016 7:47 pm

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Post n°632

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Mar 20, 2016 7:47 pm

https://www.youtube.com/watch?v=dLj6T2xCErI
Rogue Money Radio - Guest: Bix Weir (03/18/2016)

Streamed live on Mar 18, 2016
V Sits down with Bix Weir one of the foremost experts in banker fraud, Precious Metals manipulation and father of the "Road To Roota" theory. Get ready for a riveting interview.

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

B.B.Baghor Mon Mar 21, 2016 3:47 am

B.B.Baghor

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Post n°633

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

B.B.Baghor Mon Mar 21, 2016 3:47 am

Thank you, Carol. That's what I call riveting... oh yes. These guys are well grounded, keeping a sense of humour, common sense and focus. I like that and it helps me to stay balanced, apt as I am for an easy "take off" Heh heh

You know, Carol, some of the links and videos you're posting here, they're valuable to the banker-group in Holland, for which I'm a translator and sort of "Flying Dutch(wo)man".
They sometimes cheer me for passing it on and add more details to it. Great, huhh? In this interview there's many points made, which I've found in numerous other sources too. But about the gold and its history! Very very interesting! I often find pretty powerful info in sometimes disturbing articles on the Prepare for Change site, well sourced and helpful to connect dots.

**Carol** Mon Mar 21, 2016 10:04 am

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Post n°634

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 10:04 am

You're welcome B.B. I'm glad you find the information useful.

"Christine Lagarde has made some recent speeches, mainly on the importance of Vietnam and Asia in the world economy, watch the video and read the transcripts here:
http://globalcurrencyreset.net/christine-lagarde-recent-speeches-on-vietnam-and-asia/

Here is some of what she said:

Some of Asia’s economies will be heavily affected. Think of machinery exporters, steel producers, and exporters of oil and other commodities. Indeed, while you and your families are benefiting from cheaper petrol, Vietnam’s government is facing a widening budget deficit and growing public debt—partly because of lower oil revenues.

Read the article here and be sure and watch the full video.

China and Vietnam are VERY CLOSE, in fact, just read this:"

https://en.wikipedia.org/wiki/China%E2%80%93Vietnam_relations

Read this article from Zero Hedge China Freight Index Collapses To Fresh Record Low
http://www.zerohedge.com/news/2016-03-15/china-freight-index-collapses-fresh-record-low

Last edited by Carol on Tue Mar 22, 2016 11:02 am; edited 1 time in total

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Mon Mar 21, 2016 10:13 am

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Post n°635

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 10:13 am

SOMETHING IS HAPPENING: Rothschild Bank under criminal investigation
March 7, 2016
The entire Swiss branch of the Rothschild’s banking empire will be subjected to a thorough criminal investigation.

Last year, Baron David de Rothschild was indicted by the French government after he was accused of fraud in a scheme that allegedly embezzled large sums of money from British pensioners.

It has taken many years to bring this case against Rothschild and his company the Rothschild Financial Services Group, which trapped hundreds of pensioners in a bogus loan scheme between the years of 2005 and 2008.

More: http://mirrorspectrum.com/spectrum/something-is-happening-rothschild-bank-under-criminal-investigation#

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Mon Mar 21, 2016 11:07 am

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Post n°636

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 11:07 am

David Crayford: I SAY, DO YOU WANTA SERVE ANOTHER PRISON SENTENCE …
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=42826

Leo Wanta claims that according to his “illegal” agreement with Ronald Reagan any balance remaining was to be placed in his charge and used for the benefit of the American people. That balance was approximately $62 trillion USD which was eventually moved from one bank to another and another and another to prevent Wanta from ever getting hold of it. This was because a new Trust had to be established under Foundation Divine before those funds could be legally placed under the new Trust as legal owner, and thus these funds became the legal property of the Global Debt Facility,

I say legal property because the origin of the funds derived from the illegal use of Global Debt Facility Assets and therefore in law any funds that derive from the illegal use of Global Debt Facility Assets belong to the Global Debt Facility, not to Wanta under an illegal agreement executed by Ronald Reagan as then President of the USA.

Let put it in a simple way for Mr and Mrs Average to understand. You have a substantial amount of money on your Bank Account and without you knowing about it, the Bank authorizes someone else to use your money in an investment that creates huge rewards for its participants.

Eventually your money is returned to your Bank account and you didn’t even know that it was missing, or used illegally by someone else in the first place. Legally, the use of your money was illegal and therefore in law whatever gains were made by the illegal and unauthorized use of your money are legally yours and certainly do not belong to the person or party who had the illegal use of your money.

That is effectively what happened with Wanta. He was denied access to the remaining funds because they derived from an illegal agreement and therefore legally belonged to the owner of the assets / funds, being the Global Debt Facility.
END

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Mon Mar 21, 2016 11:10 am

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Post n°637

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 11:10 am

RUSSIAN AND JAPANESE ECONOMIC TIES GROW
http://gizadeathstar.com/2016/03/russian-japanese-economic-ties-grow/

Excerpt: Tokyo is indeed splintering the US policy of attempting to isolate Russia, and Washington has only Washington to blame.

My bet?This one has geopolitical repercussions that will reverberate ...well...just about everywhere. For both Moscow and Tokyo, their ability to bury the hatchet and enter mutually beneficial investments and projects will send huge messages throughout the western Pacific, and Jakarta, Bagkok, Manilla, and even Canberra will be watching closely, for it will indicate Russia's bona fides, and open more doors to Moscow.

This one has geopolitical repercussions that will reverberate particularly in Europe, and even more particularly in Berlin. One may expect that when Frau Merkel's government falls, which now seems all but inevitable, that there will be a huge "rethink" in Germany of that "special relationship" with Washington, and that "rethink" will spill over to Vienna, Prague, The Hague, Copenhagen, Stockholm, and Rome, and that's just for starters. And Mr. Putin will be ready, as he has been with Tokyo, to talk some serious business.

IS IT FRAU MERKEL THAT’S IN TROUBLE? OR EUROPE?
http://gizadeathstar.com/2016/03/frau-merkel-thats-trouble-europe/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Mon Mar 21, 2016 11:11 am

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Post n°638

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 11:11 am

Gold Nanodiscs Offer Infrared Vision of Life After Antibiotics
Scientists at the University of Houston made nanodiscs from gold nanoparticles and used them to kill bacteria, a method that could one day help doctors to treat some common infections without antibiotics.

Read more: http://sputniknews.com/science/20160321/1036668949/antibiotics-gold-nanodisc-kill-bacteria.html#ixzz43YRQEtZj

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Mon Mar 21, 2016 7:18 pm

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Post n°639

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 7:18 pm

KWN:
Peter Boockvar – We’re Now Seeing The End Of Central Bank Influence On Markets

Peter Boockvar: “What we’re seeing right now is the end of the road in terms of the influence that central banks have on markets. They got a little bit of it back last week in the last week in the stock market, but they lost control over commodities over a 5-year time frame, they’re now losing control over currencies, and at some point they are going to lose control over bonds and the stock market. That is my biggest fear and expectation, unfortunately.”

Audio at link: http://kingworldnews.com/peter-boockvar-were-now-seeing-the-end-of-central-bank-influence-on-markets/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Mon Mar 21, 2016 10:35 pm

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Post n°640

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Mon Mar 21, 2016 10:35 pm

If Britain Leaves Europe, Will Others Follow?

Politicians launching personal attacks on each other…

A politician with funny hair railing against Muslim immigration…

Other politicians want to build literal barriers to prevent the flow of immigrants.

This is the Republican primary in the United States, right?

Wrong!

There isn’t a Trump to be found in this case.

Instead, I’m talking about the current merry-go-round in the not-so-well-named European Union.

Europe is seeing the rise of many nationalist politicians – such as Marine le Pen in France, and the Netherlands’ Geert Wilders (the guy with the funny hair).

Europe is falling apart at the seams politically. No country is happy with the state of the Union right now.

At the top of the list, of course, is Britain.

The “Brexit Effect” on Europe

With the recent rise of Euro-scepticism in Britain, the country will hold a referendum in June on whether to leave the EU.

And, as ably covered by my colleague Martin Hutchinson and others, there will be a number of effects on Britain itself.

But what about the effects on continental Europe?

– Military: One obvious effect will be on Europe’s military operations. Britain has by far the best military in the European Union. The French military is pretty decent. Germany and Italy aren’t bad either. But the rest are a joke. I’m sure Putin will notice.

– Economy: As the second-largest economy in the EU, the consequences of Britain leaving the union will be keenly felt.

– Trade: Britain and the EU need each other in this regard. A study by John Springford of the Center for European Reform think-tank, concluded that Britain’s trade with the EU is 55% higher than it would have been, had it stayed outside the EU.

On the other end, Britain is the third-largest export market for Germany. And 32% of Irish exports go to Britain.

These effects, however, pale in significance when one looks at the big picture.

The Real Danger: EurExit

There’s no doubt that some politicians and citizens of other EU countries are looking at Britain rather enviously, wishing that they could also have a referendum on their own EU membership.

Indeed, the real danger is a domino effect, whereby pressure mounts and other countries decide to follow Britain’s lead.

This is a very real possibility.

More: http://www.wallstreetdaily.com/2016/03/21/britain-exit-european-union/

Last edited by Carol on Tue Mar 22, 2016 10:21 am; edited 2 times in total

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 10:17 am

Carol

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Post n°641

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 10:17 am

Universities and High Level Financial Fraud with Dr. Darrell Hamamoto

More: https://solari.com/blog/universities-and-high-level-financial-fraud-with-dr-darrell-hamamoto/

“If you want to tell people the truth, make them laugh, otherwise they’ll kill you.” ~ Oscar Wilde

Dr. Darrell Y. Hamamoto is a Professor of Asian American Studies at the University of California, Davis. He is an expert on cultural analysis including media, popular cultural and sexuality. He is the author of these books:

Servitors of Empire: Studies in the Dark Side of Asian America
Nervous Laughter: Television Situation Comedy and Liberal Democratic Ideology
Monitored Peril: Asian Americans and the Politics of TV Representation
New American Destinies: A Reader in Contemporary Asian and Latino Immigration (editor)
Countervisions: Asian American Film Criticism (editor)
Dr. Hamamoto joins me on the Solari Report this week to discuss the economic model operating at public and private universities, what it means for college and graduate education and how it relates to the larger financial models operating in America.Universities and High Level Financial Fraud with Dr. Darrell Hamamoto

https://solari.com/blog/universities-and-high-level-financial-fraud-with-dr-darrell-hamamoto/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 10:39 am

Carol

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Post n°642

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 10:39 am

FX Market Chaos Signals Brexit Risk Surge Post-Belgium
Submitted by Tyler Durden on 03/22/2016 10:30 -0400

The markets' various indicators of 'Brexit Risk' are all elevated this morning post-Belgium-attacks.

GBPUSD is tumbling..

But most crucially, the cost of protection against pound currency swings over EU currency swings has jumped to the highest ever signalling the highest market-impled risk of Brexit so far.

As Fed's Lockhart warned yesterday, the contagious risk of Brexit will likely spread to the US economy - so this is not to be ignored.

More: http://www.zerohedge.com/news/2016-03-22/fx-market-chaos-signals-brexit-risk-surge-post-belgium

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 10:57 am

Carol

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Post n°643

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 10:57 am

Oil Rips On Yet Another Doha "Freeze" Meeting Headline (As Predicted)
Submitted by Tyler Durden on 03/22/2016
Around 915ET we tweeted the need for an OPEC meeting headline as oil prices started to accelerate losses. 70 minutes later, the market's "wish" was granted when Algeria (yes, seriously) announced they will attend, Nigeria is hopeful, and Libya said it would not attend... of course any headline is a buying opportunity and the algos went wild...

http://www.zerohedge.com/news/2016-03-22/oil-rips-yet-another-doha-freeze-meeting-headline-predicted

"This Is Unprecedented": Smart Money Throws Up All Over "Rally", Sells Stocks For Eight Straight Weeks
Submitted by Tyler Durden on 03/22/2016 - 09:38
"Last week, during which the S&P 500 climbed 1.4%, BofAML clients were net sellers of US stocks for the eighth consecutive week, in the amount of $1.4bn—suggesting clients still doubt the sustainability of the rally. This is the longest selling streak since Oct-Dec 2010"

http://www.zerohedge.com/news/2016-03-22/unprecedented-smart-money-throws-all-over-rally-sells-stocks-eight-straight-weeks

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 10:59 am

Carol

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Post n°644

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 10:59 am

Frontrunning: March 22
Submitted by Tyler Durden on 03/22/2016

Brussels Rocked by Deadly Attacks With Blasts at Airport, Subway (BBG)
Death count climbs in Brussels blasts (Reuters)
Europe on High Alert After Blasts in Belgium (WSJ)
Brussels Phone Users Urged to Text Not Call as Networks Jammed (BBG)
U.S. Embassy Urges Citizens in Brussels to Shelter in Place (BBG)
Oil prices swept lower after Brussels blasts spook investors (Reuters)
Democratic Party workers pore over videos in bid to hobble Trump (Reuters)
Trump's Republican Turnout Boost Extends to Battleground States (BBG)
Cooperman's Omega Said to Get Wells Notice Over 2010 Trade (BBG)
U.S. Says ‘Outside Party’ Could Unlock Terrorist’s iPhone (WSJ)
Gold Trader at Heart of Turkey Graft Scandal Charged in U.S. (BBG)
New York Fed Had `Major Lapse' in Robbery, Bangladesh Says (BBG)
With Board Member Who Won't Leave, Valeant Is at Mercy of Bylaws (BBG)
Obama intervened over crumbling Iraqi dam as U.S. concern grew (Reuters)
Google's Greene Hastens Cloud Expansion in Race With Amazon (BBG)
New Market for U.S. Shale Gas Opens in Europe (WSJ)
Drillers Can't Replace Lost Output as $100 Oil Inheritance Spent (BBG)
Puerto Rico takes restructuring law to U.S. high court (Reuters)
Atlantic City Mayor Warns of Shutdown Amid Push for State Rescue (BBG)

Overnight Media Digest

WSJ

- Valeant Pharmaceuticals International Inc moved to replace its longtime chief executive, part of a series of steps to regain credibility and show investors it is committed to a fresh start after months of failed attempts. Valeant's decision to look for a successor to CEO Michael Pearson comes just three weeks after it decided to take him back following an extended medical leave. (http://on.wsj.com/1Mj6BRx)

- A federal magistrate judge postponed a highly anticipated Tuesday hearing over the Justice Department's request for Apple Inc to help unlock a terrorist's iPhone, after the government said it may have found another way to view the phone's contents. (http://on.wsj.com/1o2Y89r)

- Starwood Hotels & Resorts Worldwide Inc said it had agreed to a sweetened $13.6 billion deal from Marriott International Inc that trumps last week's boosted bid from a group led by China's Anbang Insurance Group Co. (http://on.wsj.com/1S04EGd)

- Fantasy-sports operators FanDuel Inc and DraftKings Inc agreed to shut down in New York, their largest market, as part of a settlement announced Monday with the state attorney general's office. (http://on.wsj.com/1RwcK8M)

- FedEx Corp will expand its global e-commerce business in an effort to compete for the growing number of packages shipped to consumers from China and Japan, executives said Monday. (http://on.wsj.com/1ZmHfnS)

FT

British car maker TVR will open a new plant in south Wales as the group prepares to return to production after more than a decade's absence from the market.

Former leader of the opposition, Ed Miliband, will on Tuesday make a significant intervention into the debate over Britain's place in the EU by repeatedly warning Labour that his party "cannot sit it out" ahead of the referendum in June.

Spanish lender Banco Santander rolls out voice-recognition technology to help its customers using an iPhone to talk to its banking app in a similar way as Apple's virtual assistant, Siri.

NYT

- Andrew Grove, the longtime chief executive and chairman of Intel Corp and one of the most acclaimed and influential personalities of the computer and Internet era, died on Monday at his home in Los Altos, California. (http://nyti.ms/1Mk2AMF)

- Leon Cooperman and his $5.2 billion hedge fund Omega Advisors received a notice from the Securities and Exchange Commission on March 14 outlining the possibility that they could face enforcement action over trading violations, the hedge fund manager told investors. (http://nyti.ms/1Mk2G6Q)

- Analysts at Keefe Bruyette & Woods released a report that urges Citigroup Inc to split up. In the report, the analysts argued that Citigroup's stock price is being held back by regulations that require big banks to hold large amounts of capital. (http://nyti.ms/1Mk2Mv6)

- BP Plc and the Norwegian oil company Statoil ASA said they were withdrawing employees from two of Algeria's largest natural gas fields after Islamic terrorists staged the second attack in three years on their installations. (http://nyti.ms/1Mk2ZP3)

Canada

THE GLOBE AND MAIL

** Bombardier Inc is defending its plan to outsource more work on its Toronto-built Q400 turboprop aircraft to manufacturing sites outside Canada, saying its goal of cutting costs on the aircraft has nothing to do with its billion-dollar aid request from Ottawa.(http://bit.ly/1SdYmoY)

** Prime Minister Justin Trudeau is promising Tuesday's budget will deliver "historic investments" to improve the lives of Canada's indigenous people - funding that will amount to billions of dollars.(http://bit.ly/22tnj89)

** Foreign Minister Stephane Dion is acting illegally by issuing permits to allow the export of combat vehicles to Saudi Arabia, a lawsuit filed in Federal Court on Monday alleges. Opponents of Canada's C$15-billion ($11.48 billion) arms deal with the Saudis are taking the Trudeau government to court in an attempt to block shipments of the fighting vehicles to Riyadh. (http://bit.ly/1RcSZat)

NATIONAL POST

** Bankers Petroleum Ltd has received a friendly takeover offer that values the Calgary-based company at C$575 million ($440 million), excluding debt obligations. The directors and management of Bankers are fully supporting the offer from Charter Power and a numbered Alberta company, which are affiliates of China-based Geo-Jade Petroleum Corp . (http://bit.ly/22tokx5)

** Valeant Pharmaceuticals International Inc announced Monday morning it was placing the blame for incorrect reporting of financial information on the shoulders of its former CFO Howard Schiller and corporate controller Tanya Carro, though the one-time interim-CEO Schiller says he won't take the fall. (http://bit.ly/25i6USJ)

Britain

The Times

- IHS Inc, the American owner of publications including Jane's Defence Weekly, will move to London after agreeing to a deal to take over Markit Ltd in an all-share merger that values the combined business at more than $13 billion. (http://thetim.es/1pw9AeK)

- Henri de Castries, chairman and chief executive of Axa SA , announced his retirement yesterday from the company he has led for nearly 17 years, leading to mounting expectations that the French financier is preparing to take the chair at HSBC Holdings PLC. (http://thetim.es/1pw9J1O)

The Guardian

- Sports Direct International Plc's founder Mike Ashley has challenged the authority of a parliamentary select committee by refusing to appear before MPs investigating pay and working conditions at the retailer, despite being formally summoned. (http://bit.ly/1pw9Muq)

- Britain's biggest companies could face a credit downgrade - potentially forcing up their borrowing costs - should the UK vote to leave the EU in June, according to a report by a leading ratings agency. (http://bit.ly/1pwdDaR)

The Telegraph

- Five Guys, the U.S. burger chain which counts President Barack Obama among its fans, has overtaken Nandos as the UK's most popular fast-food chain just two years since arriving in this country. (http://bit.ly/1pwakRg)

- Atlantic Healthcare, a Cambridge-based drugs company, has raised $24 million as it reaches the final stages of developing a drug that could relieve the suffering of people with severe inflammatory bowel conditions. (http://bit.ly/1pwao3e)

Sky News

- Lyndon Nelson, the executive director for UK deposit-takers supervision at the Prudential Regulation Authority (PRA), was among a small number of candidates interviewed about replacing Andrew Bailey as its chief executive. (http://bit.ly/1pwaOXp)

- British sports car maker TVR is to make its new generation of vehicles in south Wales, creating 150 jobs. (http://bit.ly/22AL0YK)

The Independent

- Carmignac Gestion's head of European equities, Muhammed Yesilhark, departs after investing in barely ever traded scheme run by Tory donor Lars Windhorst, who is advised by the former Business Secretary. (http://ind.pn/1pwfDjp)

http://www.zerohedge.com/news/2016-03-22/frontrunning-march-22

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 11:16 am

Carol

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Post n°645

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 11:16 am

Global Markets, S&P500 Futures Fall After Brussels Bombings
Submitted by Tyler Durden on 03/22/2016
This morning's Brussels suicide attacks have led to risk-off sentiment across European asset classes, with Bunds higher and equities firmly in the red, although if the Paris terrorist attacks of November are any indication, today's tragic events may be just the catalyst the S&P500 needs to surge back to all time highs. FX markets have also been dominated by events in Brussels, with USD and JPY strengthening, while EUR and GBP softening throughout the European morning.

Losses today would disrupt a five-week rally bolstered by improving economic data, rising crude prices and "optimism that central banks around the world will continue to support growth" as Bloomberg puts it clearly not aware of the irony that the world is no longer able to grow precisely due to decades of central bank "stimulus."

This is where global markets stand as of this morning.

S&P 500 futures down 0.4% to 2034
Stoxx 600 down 0.9% to 338
FTSE 100 down 0.6% to 6149
DAX down 0.9% to 9854
German 10Yr yield down 3bps to 0.2%
Italian 10Yr yield down less than 1bp to 1.25%
Spanish 10Yr yield up 2bps to 1.46%
S&P GSCI Index down less than 0.1% to 336
MSCI Asia Pacific up 0.7% to 130
Nikkei 225 up 1.9% to 17049
Hang Seng down less than 0.1% to 20667
Shanghai Composite down 0.6% to 2999
S&P/ASX 200 down 0.3% to 5167

Global top news

Brussels Rocked by Deadly Attacks With Blasts at Airport, Subway: Two explosions ripped through Brussels airport departure hall, third hit a downtown subway station on Tuesday morning; VTM news put toll at 11, citing local fire department.

IPhone Hearing Canceled as FBI Tests Hack Without Apple Help: Court hearing was canceled at DoJ’s request, as govt said in Monday court filing that it wanted to test a possible method for accessing phone data.

Apple Unveils Smaller IPhone SE, New IPad Pro to Aid Sales: iPhone SE has a 4-inch-screen, incorporates faster A9 processor that also runs larger iPhone 6S handsets.

Cooperman, Omega Said to Get Wells Notice Over 2010 Trade: Leon Cooperman said regulators are considering taking action against both him, Omega Advisors over certain trades, according to person familiar.

Express Scripts Incoming CEO Wants Anthem to Stay Amid Suit: Incoming CEO Tim Wentworth trying to keep its biggest customer, after health insurer Anthem sued to recoup billions.

Carnival Wins Cuban Government’s OK to Begin Cruises to Island: Decision allows co.’s Fathom division to become first U.S. cruise line to dock there in >50 years.

Ackman Said to Address Valeant Side-by-Side With Pearson: Ackman, with chairman Ingram, outgoing CEO Pearson answered questions, made proclamations about co.’s future.

BlackRock Says There Won’t Be a U.S. Recession, Cut Treasuries: “Economic indicators this week may show the U.S. economy experienced a mild slowdown but is not headed for a recession,” Richard Turnill, global chief investment strategist, wrote in a report Monday.

Boeing Likely to Miss Delivery Date for Tankers: Pentagon: Co. likely to miss first major requirement of its $51b tanker program for U.S. Air Force; delivering firrt 18 aerial refueling planes by August 2017.

Apache Unlikely to Seek M&A Until More Restructuring Occurs: Co. has higher bar for purchasing assets, given that it already has deferred activity, CEO John Christmann said Monday. Transocean, Schlumberger See Oil Industry Recovery Delayed National Oilwell Considering Billion-Dollar Deals in Oil Slump

Looking at regional markets, Asian stocks traded mixed despite the mild positive lead from Wall St., as commodities retreated and demand for risky assets remained subdued ahead of the Easter season. Nikkei 225 (+1.9%) outperformed on return from a long weekend to snap a 4-day losing streak with JPY weakness driving price-action, while ASX 200 (-0.3%) saw indecisive trade as losses in financials and materials capped upside momentum. Elsewhere, Chinese markets were subdued with the Shanghai Comp (-0.6%) on course for its first loss in 8 days following weakness in commodity-related sectors, while there were also reports that

China's regulator urged banks to reduce their risk and curb dividend pay-outs. Finally, 10r JGBs traded relatively flat despite the heightened risk-appetite in Japan as real money accounts were seen to be mostly side-lined, while there was also notable curve-flattening as yields in the super-long-end dropped to fresh record lows. BoJ's Nakaso said would like to watch for some time to evaluate how negative rates work throughout the Japanese economy and added that it is technically possible for the BOJ to go deeper into negative territory.

Top Asian News

Hong Kong Property Crash Averted, If Stock Traders Are Right: Hang Seng Properties Index has climbed 18% from January low.

Ringgit Gains to Seven-Month High on 1MDB Asset Sale Report, Oil: Currency’s break of 4/$ puts 3.9 in sight, Macquarie says.

China’s Rising Sway Seen in Korea Bonds as Holdings Top U.S.: Chinese funds are now biggest holder of won- denominated debt.

Botched Rules Trip Modi Dream of Shipping Hub Rivaling Singapore: Curbs, costs mean shippers prefer Colombo, Singapore, Dubai.

ANZ Bank Plans to Eliminate 12 Positions in its Markets Division: Unit includes foreign exchange, syndicated loans, fixed income.

The price action in Europe has been dictated by the tragic events in Belgium, in which explosions at the Brussels airport and metro stations has prompted risk off sentiment. As such, equities (Eurostoxx -0.40%) are deeply entrenched in negative territory with underperformance seen in airline names such as IAG (-4.2%) and Ryanair (-4.3%), this comes alongside other tourist related names feeling the brunt such as Accor (-4.4%). The risk off tone has seen Bunds move higher with volume also spiking, while yields continue to bull flatten across the curve with peripheral spreads slightly wider.

Top European News

European Hotel Stocks Fall After Explosions at Brussels Airport: Bloomberg Europe Lodging Index, composed of seven leading lodging stocks, fell 4.1%, most since Feb. 11.?Air, Train

Travel Slows in Europe After Brussels Airport Blasts

Bank Drops as Moody’s Signals Risk of Cut Amid Overhaul: “Since changing leadership last

June and recalibrating its strategic plan last November, the operating environment has worsened for Deutsche Bank,” ratings firm said in statement late Monday.

German Business Confidence Rebounds on Resilient Domestic Demand: Indicator improved for the first time in four months.

Wal-Mart Loses Everyday Low Price Edge as Aldi Opens Across U.S.: Family-owned German grocery-store chain is beating WMT at its own game: selling food at rock-bottom prices.

Bang & Olufsen in Takeover Talks With China’s Sparkle Roll: Several elements in the discussions remain to be resolved, B&O said Tuesday in statement.

OMV Said in Talks to Hire Morgan Stanley for Turkey Disposal: Sale may raise as little as $1.3b, according to Bloomberg Intelligence calculations.

In FX, this morning's FX trade has also been dominated by the confirmed suicide attacks on Belgium. All the familiar risk currencies were hit, with spot and cross JPY taking a dive; the USD rate falling to lows around 111.36 having pushed through to 112.20 highs prior to this. GBP/JPY was a key loser on the day, as Cable was hit hard prior to news of the above — pre 1.4400 pounced up as London players came in. EUR/GBP was also edging higher, but with EUR/USD also coming under fire, the USD won out against all currencies with the exception of the JPY. AUD and CAD were slow to react, and were only marginally weakened in the risk off climate — as was NZD. The CHF made some progress against the EUR, less so against the USD. Limited impact on emerging FX. German Ifo (106.7 vs. Exp. 106) beat expectations on all counts although with ZEW (4.3 vs. Exp. 5.4) lower and UK inflation (Y/Y 0.30% vs. Exp. 0.40%) was softer than forecast.

In commodities, gold has seen the biggest move in commodities, rising USD 9.00/oz after the terror attacks in Brussels, meanwhile WTI and Brent are trading relatively flat for the day. In Base metals, copper and iron ore prices declined amid weak sentiment in China, with Dalian iron ore futures further pressured by profit-taking after prices hit limit-up in the prior 2 consecutive days.

On the US calendar today, markets will focus on the latest Markit manufacturing flash PMI for March (51.9 expected; 51.3 prior) and the Richmond Fed Manufacturing index (0.0 expected; -4 prior). We also get more housing data with the FHFA house price index for January due (+0.5% expected) ahead of the manufacturing data as well as API Crude Oil Inventories data.

Bulletin Headline Summary From Bloomberg

Treasuries slightly higher in overnight trading, global equity markets drop, gold rises; Brussels airport and subway system hit by explosions in possible terrorist attacks.
The pound suffered the biggest impact in the currency market of the Brussels explosions amid speculation the tragedy boosts the case of campaigners who want Britain to quit the European Union

The U.K.’s inflation rate was unexpectedly unchanged in February, remaining far below the BOE’s 2% goal. Annual consumer-price growth was at 0.3%; economists had forecast an acceleration to 0.4%

Deutsche Bank extended declines after Moody’s Investors Service signaled it may cut the German lender’s credit rating amid concern that it will struggle to restructure businesses
German business confidence improved for the first time in four months in a sign that domestic demand is helping shield companies in Europe’s largest economy from slowing global growth
The Australian central bank’s attempts to talk the local currency lower last year ran afoul of the U.S. Treasury, which chided officials by reminding them of their commitment to a freely floating exchange rate

Prime Minister Justin Trudeau will put the Canadian government back in business when he introduces a debut budget Tuesday that reverses a decade of restraint
In 2016, for the first time in years, drillers will add less oil from new fields than they lose to natural decline in old ones

$2.7b IG corporates priced yesterday; MTD $132.505b, YTD $426.755b; $1.75b HY priced yesterday, MTD 17 deals for $9.965b, YTD 42 deals for $24.82b
Sovereign 10Y bond yields mostly steady; European, Asian equity markets lower; U.S. equity-index futures drop. WTI crude oil and copper fall, gold rallies

US Event Calendar

9:00am: FHFA House Price Index m/m, Jan., est. 0.5% (prior 0.4%)
9:45am: Markit US Manufacturing PMI, March P, est. 51.9 (prior 51.3)
10:00am: Richmond Fed Mfg Index, March., est. 0 (prior -4)
11:30am: U.S. to sell $55b 4W bills
12:30pm: Fed’s Evans speaks in Chicago
7:00pm: Fed’s Harker speaks in New York

http://www.zerohedge.com/news/2016-03-22/global-markets-sp500-futures-fall-after-brussels-suicide-bombings

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 11:28 am

Carol

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Post n°646

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 11:28 am

Greece Orders Banks To Record "Personal Data" On Anyone Who Was Hoarding Cash
Submitted by Tyler Durden on 03/21/2016 - 15:36
Did you just trade in your €500 note for five €100s? You're probably a criminal, Greece reckons.

Courtesy of a reader, we learned that Piraeus Bank (among others) has begun charging a fee to exchange large denomination bills for small. The charge is listed as 0.15% by the bank and Kathimerini would later report that across the Greek banking sector “exchanging one 500-euro note for smaller bills, [will cost you] 3-5 euros (depending on the bank), while the maximum charge comes to 200-250 euros regardless of the amount a customer wishes to exchange.”

This is amusing for two reasons: 1) the ECB effectively gets to charge for the privilege for banning large bills and 2) it means that if you are Greek and you were effectively forced to take your money out of the bank because after last summer you feared a depositor bail-in might be right around the corner, you now have the distinct pleasure of having to pay a fee to exchange your large bills for smaller ones at the very same banks where you withdrew the money in the first place.

The entire effort to eliminate the €500 note is set against the backdrop of a larger push to phase out physical cash. Without physical cash, there is no effective lower bound as citizens cannot resort to banknotes and coins when interest rates fall. Rates then, can go as low as the central bank needs them to in order to facilitate consumer spending and thus centrally plan the economy.

Of course central banks aren’t going to come out and say that. The official reason given for eliminating large bills (and sooner or later small bills too) is that it reduces crime. If there’s no cash there will always be an electronic record of transactions which presumably would deter criminal activity unless criminals resort to payment in-kind or otherwise devise an underworld barter system.

Implicit in all of this is the notion that if you are in possession of large bills you are probably a criminal. Sometimes, that’s true. Take the two men who were arrested this month at the Madrid airport with €200,000 in €500 notes rolled up in cigarette packs, for example:

But other times, you might be in possession of large bills for other reasons. Like say the central bank has cut rates to zero and you’re afraid that soon enough, the bank won’t be able to sustain its margins so it will pass along NIRP to you. Or say the troika threatened a depositor bail-in and you’re afraid they’ll do it again, so you took all of your money out of the bank and put it in the mattress.

Unfortunately, even if you do have a good reason (not to mention a right) to be in possession of large amounts of cash in high denomination notes you’re going to be treated like a criminal, and it starts in Greece. As Kathimerini reports, Greeks who attempt to exchange €500 notes for smaller bills will now have their transaction and personal data recorded by the bank. Here’s more:

Commercial banks are being ordered to note the personal data and transaction history of clients who exchange 500-euro notes, along with cross-checking the details recorded with other transactions by those customers, according to a circular issued by the Bank of Greece.

The aim of the measure – on top of a commission charged by banks on the exchange of 500-euro banknotes with smaller ones – is to prevent money laundering, which experts believe to be behind demands by certain bank clients to exchange bills of high denomination.

More: http://www.zerohedge.com/news/2016-03-21/greece-orders-banks-record-personal-data-anyone-who-was-hoarding-cash

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 11:50 am

Carol

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Post n°647

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 11:50 am

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 26 HeaderNew6

Peter Schiff's accurate prediction of Subprime Mortgage Melt down inspired the Academy Award-nominated film, The Big Short... But now he's warning Americans of a crisis far worse - violent uprisings, no police, and system-wide collapse ending in the death of a National Treasure.

VIDEO: http://pro.wallstreetdaily.com/TAO_SCHIFFYAHOO/PTAOS3B9/?h=true

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 1:02 pm

Carol

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Join date : 2010-04-07
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Post n°648

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 1:02 pm

The currency war is over, says HSBC
http://www.marketwatch.com/story/the-currency-war-is-over-says-hsbc-2016-03-22

Dollar rises as Brussels attacks weaken European currencies
http://www.cnbc.com/2016/03/21/dollar-perks-up-with-fed-hike-seen-back-in-play.html

ISIS claims responsibility for Brussels attacks: Reports
http://www.cnbc.com/2016/03/22/several-injured-after-explosions-at-brussels-airport-report.html

Look at Credit, Not Currencies, to See The Impact of Central Banks
Monetary easing in Japan and Europe this year hasn't weakened the euro or yen, but it has had a notable impact on bond markets
http://blogs.wsj.com/moneybeat/2016/03/22/look-at-credit-not-currencies-to-see-the-impact-of-central-banks/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 1:03 pm

Carol

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Join date : 2010-04-07
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Post n°649

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 1:03 pm

CIP WELCOMES IRAQ
March 21, 2016 -- Citizens of the Republic of Iraq are now eligible to apply for citizenship under the Citizenship by Investment Programme (CIP), Antigua & Barbuda’s newly appointed Ambassador to Iraq, Ahmed Abbas Oleiwi Al-Hassani has confirmed.
http://antiguaobserver.com/cip-welcomes-iraq/

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

**Carol** Tue Mar 22, 2016 2:29 pm

Carol

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Join date : 2010-04-07
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Post n°650

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Tue Mar 22, 2016 2:29 pm

Benjamin Fulford says Something strange happening around Antarctica as negotiations for new financial system
Tuesday, March 22, 2016
Author: Benjamin Fulford

Something is happening around Antarctica these days that is shrouded in secrecy but is also attracting a lot of heavy hitters. The visit to Antarctica by Patriarch Kirill, the head of the Russian Orthodox Church, in February was the first sign of something unusual happening. Now this week US Presidential spokesperson Barack Obama will be visiting the Nazi South American headquarters in Bariloche, in Southern Argentina.

Just before the Obama visit, it was revealed that China has built a giant space exploration base in Southern Argentina. Following this revelation, the Argentine government reported they sank a “Chinese fishing boat,” near a restricted area off the coast of Southern Argentina. Pentagon sources say the boat was probably a Chinese spy vessel since a normal fishing vessel would have responded to Argentine warnings.

Furthermore, the heavy handed attempt Khazarian mafia attempt to overthrow the government of Brazil has now failed, depriving the Khazarian mafia of Brazil as a place to flee now that the American people are waking up to the crimes that have been committed against them, CIA sources in South America say.

Now CIA sources in Asia are saying their connections “who are above the government,” are all “flying South,” this week and hinted strongly that “South” referred to Antarctica. This is all very interesting because years ago Paul Laine, a source in Pentagon military intelligence, told this writer the then state of the art UK guided missile destroyer HMS Sheffield had been captured by Nazis operating out of an undersea base in the region. The Sheffield was supposedly sunk in 1982 during the Falklands war between Argentina and the UK by an Exocet missile.

This increase in highly secret activity in the Southern Hemisphere near Antarctica is somehow connected to ongoing negotiations over a gold mine in Papua, New Guinea, that Laine also indicated was the location of a Nazi secret base.

America’s top spy, James Clapper, flew to Australia last week in what Australian media reports described as a “secret visit.”

http://mobile.abc.net.au/news/2016-03-16/us-spy-boss-makes-secretive-visit-to-australia/7251590

One topic of discussion is the revelation a Chinese company has acquired a 99 year lease on the Australian harbor at Darwin that includes Australian Navy facilities.

http://www.abc.net.au/news/2016-03-10/australia-nothing-to-fear-from-darwin-port-lease-says-china/7237218

However, there is also a very different agenda being discussed connected to gold and secret bases. CIA sources in Asia say that also present at the meeting were top Indonesian and Australian military officials. At one level, the discussions are about allowing the US military to station a fleet around Badua Island, close to the South China Sea.

At another level, the negotiations are also about giant new gold and platinum reserves found in the same general area as the giant Freeport McMoRan mine (and secret base) is located, Indonesian sources say.

Indonesian President Joko Widodo is also expected to visit this week the Indonesian equator monument that is supposed to be the location of a giant gold stash, the sources say. The US military is keen to build a giant new harbor there, in part as a cover for a gold recovery operation, CIA sources say.

Meanwhile the Asian side has revealed more details about a gold transaction being negotiated in order to provide funding for the creation of a future planning agency. At present, 8000 metric tons of gold (worth about $320 billion at current market prices) are on offer by the Asians at a 13% discount from the market price. Of this, 4000 tons would come from Thailand and 4000 tons from China, Chinese government sources say. Of the 13% discount, 10% would go towards setting up the planning agency and remaining 3% would be for commissions, the government officials say. The gold on offer is what is known as “black gold” or off-ledger gold. This gold, mostly held by Asian royal families, has been kept out of the Western financial system because allowing the Asians to cash their gold would give them overwhelming financial and thus global, power.

In this deal, the Asians would get dollars and other hard currency that can be used around the world while the gold starved Westerners would be able to replenish their bullion coffers. As of this writing, no formal Western response has been received for the 8000 ton offer but one is expected soon.

In related news, this writer participated in the taping of a Japanese prime TV show due to be aired on March 31st that will show the Japanese public clear evidence of Western cabal plans to kill 90% of the world’s population. The show includes footage of the notorious Georgia Guide Stones. The show also includes a segment discussing why Princess Diana was murdered and a segment about Native American contacts with possible aliens. This appears to be the beginning of some sort of disclosure process.

It must be noted this show must have been approved by US Ambassador to Japan Caroline Kennedy. Kennedy’s father, President John F. Kennedy, was murdered in part because he wanted to use Asian gold to take the US dollar out of the control of the Khazarian mafia cabal.

We are also now hearing from the US military that the “North Korean submarine” sunk recently was actually an Israeli submarine that was sunk on March 11th “in remembrance for Fukushima.” However, Pentagon sources say “Israel still has two more subs and much more to pay because 16 US ships that aided Japan in operation tomodachi after 311 are still contaminated.”

Another Khazarian crime that is still to be fully punished is the downing of Malaysian airlines flight 370. Pentagon sources are saying that Goldman Sachs may have been used to pay Malaysian Prime Minister Najib Razak $680 million to help cover up the hijacking of this plane to prevent the return home of 20 Chinese engineers working for Freescale Semiconductors. FBI Director Jim Comey visited China on March 14th, likely as a part of this probe that also involves Russian investigators, the sources said.

Inside the US as well, the take down of the Khazarian mafia is proceeding at an accelerating pace. For one thing, the various death threats against Republican candidate Donald Trump are being firmly dealt with by the Secret Service and other enforcement authorities. The rent a mobs being hired by George Soros are also being dealt with.

The attacks on Hillary Clinton have also escalated to such an extent that even the New York Times propaganda rag has come out with stories that the Clinton's handed over uranium mines in the US to the Russians in tandem with donations to their foundation.

http://www.nytimes.com/2015/04/24/us/cash-flowed-to-clinton-foundation-as-russians-pressed-for-control-of-uranium-company.html?_r=2

Meanwhile Presidential spokesperson Barack Obama’s attempt to place Khazarian Jew Merrick Garland on the Supreme Court to replace Antonin Scalia has created a huge backlash of opposition. Garland was involved in the cover-up of the Oklahoma city bombings and is in support of gun control. His appointment is opposed by Republicans, the Vatican, the military, the NRA, militia members and many others. It is almost as if he was selected deliberately to galvanize opposition to Khazarian mob rule.

The other Khazarian mafia stronghold under attack is the widely reviled Monsanto Corporation. Their attempt to ban the labelling of GMO crops on foodstuffs has backfired, and now several major food makers, including General Mills and Campbell Soup, have promised to label GMO foods. Furthermore, the FBI is now probing the various food poisoning outbreaks that affected the Chipotle fast food chain after it announced it was going GMO free. Initial evidence is pointing to Monsanto goons as being the culprits, FBI sources say.

In the Middle East, meanwhile, the UN and the US have begun to openly call Turkish and Saudi Arabian attacks war crimes and genocide. This is paving the way for a major military campaign to clean up that troubled region once and for all.

Turkish President Recep Erdogan seems to losing control of his senses under the pressure as evidenced by recent statements calling journalists and politicians “terrorists.”

http://www.independent.co.uk/news/world/middle-east/turkey-s-president-erdogan-wants-definition-of-terrorist-to-include-journalists-as-three-academics-a6933881.html

The Turkish military know they will have to dump him if they are to save their country from dismemberment.

It may be already too late for Saudi Arabia to do the same. A Saudi Prince, who was involved in an attempt to offer the White Dragon Society $25 trillion to go away, once admitted “we have been obeying them for so long,” that his countries’ rulers could not contemplate any other course. The “them” was a reference to the Khazarian mob but, in the context, he was clearly referring to something even more ancient and evil. This is the human slaver guild known to history as the Hyksos, who worshipped a goat faced being with a forked tail we refer to as Satan. Certainly the recent actions of the Saudis, such as bombing markets and killing innocent people, can only be described as Satanic.

On a final note, Russian sources say Pope Francis is planning to make a major announcement, possibly in May, and then retire. While experience has taught us to be wary of specific dates or deadlines, it is undeniable that major world changes are taking place. The WDS, for its part, will make some sort of announcement if and when it sees the actual physical gold mentioned.

http://beforeitsnews.com/alternative/2016/03/text-benjamin-fulford-says-something-strange-happening-around-antarctica-as-negotiations-for-new-financial-system-3323981.html

_________________
What is life?
It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.
With deepest respect ~ Aloha & Mahalo, Carol

tMoA

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