INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

**Carol** Thu Apr 14, 2016 10:38 am

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Post n°801

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Thu Apr 14, 2016 10:38 am

Frontrunning: April 14
Submitted by Tyler Durden on 04/14/2016

Global shares reach four-month high, forex hit by Singapore sting (Reuters)
Dollar Rally Hits Commodities as Europe Halts Global Stock Gains (BBG)
Currencies Across Asia Fall Sharply Against U.S. Dollar (WSJ)
IEA expects limited impact from oil output freeze at Doha (Reuters)
IEA Sees Oil Oversupply Almost Gone in Second Half on Shale Drop (BBG)
BofA Profit Declines 13% on Trading Slump, Energy Reserves (BBG)
BlackRock quarterly profit falls 20 percent (Reuters)
Negative Rates: How One Swiss Bank Learned to Live in a Subzero World (WSJ)
With plenty of punch, central bankers wait in vain for the world to drink (Reuters)
Russia's Putin: Panama papers are 'provocation' (Reuters)
Goldman Asset $15 Billion Manager Sees Wild Markets, Tame Gains (BBG)
Pay Shrinks for Most Oil CEOs, as Crude’s Swoon Hits Stocks (WSJ)
Trump takes steps to reset his campaign, tries to soften his image (Reuters)
Trump Could Lose Delegates in States That Have Yet to Vote (BBG)
Bernie Sanders Makes Bold—and Risky—Moves Before New York Primary (WSJ)
Exxon Says `$25 Billion Rule' Will Sink Deepwater Oil Drilling (BBG)
Qatar's Oil-Freeze Letter to Norway Reveals Doha Deal Logic (BBG)
Republican Cruz speaks highly of Rubio when asked about possible VP running mate (Reuters)

Overnight Media Digest
FT
Facebook Inc hired Regina Dugan from Google to lead a new research and development lap focused on large technological leaps. (http://bit.ly/1T52Xub)
Coal producer Peabody Energy Corp filed for bankruptcy protection after bearing the brunt of low prices and falling demand. (http://bit.ly/1T5388A)
Jeremy Corbyn backed Britain remaining in the European Union as the Labour party seeks to mobilise support behind the Remain campaign. (http://bit.ly/1T53AE0)

NYT
- The Federal Reserve and the Federal Deposit Insurance Corporation said on Wednesday that five of the nation's eight largest banks - including JPMorgan Chase and Bank of America Corp did not have "credible" plans for how they would wind themselves down in a crisis without sowing panic. (http://nyti.ms/1Xvi9lu)
- Federal regulators have threatened a series of stiff sanctions against Theranos, the embattled blood-testing company, including closing down its flagship laboratory and potentially barring its chief executive from owning or operating its labs for two years. (http://nyti.ms/1Q8tqSW)
- Hundreds of pages of internal Takata Corp documents and emails examined by The New York Times reveal new details about how economic pressures helped guide the company's handling of its airbag defect, which has been linked to at least 11 deaths and more than 100 injuries. (http://nyti.ms/1XwJiEF)
- Only two months after the European Union's top policy makers agreed to a hard-won data-sharing pact with United States officials, the bloc's national privacy regulators said on Wednesday that the deal did not go far enough to safeguard the personal information of Internet users in Europe. (http://nyti.ms/1N9DXTd)
- Skeptical lawmakers at the House Natural Resources Committee heard testimony Wednesday on a plan to rescue Puerto Rico, as witnesses warned that only quick action by Congress could keep a bad situation from becoming a lost decade. (http://nyti.ms/23GyYgZ)
- The work stoppage by nearly 36,000 Verizon workers highlights crucial questions about the place of middle-class jobs in an economy shifting toward tech. (http://nyti.ms/1VmT3r4)

Canada
** Canada's telecom regulator is taking a tough look at the industry's claims that satellite technology will soon cure the woes of poor access to high-speed Internet for Canadians living outside urban areas. (http://bit.ly/1VY7Szd)
** Alberta, Newfoundland and Labrador are expected to unveil unpopular budgets on Thursday as the resource-dependent provinces grapple with ballooning deficits and weak oil prices. (http://bit.ly/1YuYBxH)
NATIONAL POST
** After delivering a mostly positive outlook on the Canadian economy, and keeping its lending rate on hold, the Bank of Canada found itself unexpectedly on the defensive on Wednesday over its policy independence from the federal government. (http://bit.ly/22wnrhT)
** Progress Energy Ltd, a unit of Malaysia's state-owned Petronas Bhd, is drastically slashing its capital expenditure as it awaits a final approval from the Canadian environmental agency on a proposed liquefied natural gas export project on the West Coast. (http://bit.ly/1Xx8sTE)
** Canada's pharmacists and medical marijuana producers are engaged in a brewing dispute over how pot should be distributed to patients. If they can't reach an agreement, it could leave Ottawa with a tough decision as it crafts new regulations for the sector. (http://bit.ly/23Ho7U9

Britain
The Times
* Unsecured consumer borrowing is growing at its fastest rate for 11 years as supermarkets and car dealers offer more credit to customers and water down their credit-scoring criteria. The annual growth rate in the stock of consumer credit rose to 9.3 per cent in February, its highest since before the financial crisis, according to the latest Bank of England quarterly credit conditions review, published yesterday. (http://bit.ly/1V2og2X)
* A year of global growth could be lost by 2021 unless world leaders take steps to fend off stagnation and strengthen the banks, the International Monetary Fund has warned. (http://bit.ly/1N9n0Zc)
The Guardian
* The accountancy firm PricewaterhouseCoopers has handed over 29 million pounds to the Spanish government to save four of its former employees from serving lengthy jail terms for fraud. (http://bit.ly/1Q6Kfxu)
* The Institute of Directors has made a rare intervention on executive pay, urging BP PLC shareholders to think twice before backing a decision to award 14 million pounds to chief executive Bob Dudley in a year when the company ran up its worst-ever losses.
The Telegraph
* Tata Steel Ltd could suffer another 100 million pounds of losses on its unprofitable UK steel operations before the company finally sells them off or shuts them down. (http://bit.ly/1qqadXT)
* Peabody Energy became the latest miner to buckle under the weight of the commodities price collapse after filing for bankruptcy in the US on Wednesday. (http://bit.ly/1V2oxD5)
Sky News
* Tesco PLC boss Dave Lewis has said he led the business out of crisis after it swung to an annual pre-tax profit of 162 million pounds following a record loss of 6.33 billion pounds a year ago. Tesco said it was continuing to cut prices to stay competitive in a "challenging, deflationary and uncertain market" - and warned this would slow the pace of profit improvement, particularly in the first half of the current financial year. (http://bit.ly/1NoXFVX)
* The UK is failing to improve the well-being of children from poor backgrounds, according to a damning study by UNICEF. The U.N. children's group claims Britain has greater inequality between kids from wealthy and poor backgrounds than almost any other developed nation. (http://bit.ly/20CXhe3)
The Independent
* The campaign group Vote Leave has been designated the official campaign in favour of leaving the European Union, the Electoral Commission has said. The title, which brings with it public funding and media platforms, had been contested between a number of groups. (http://ind.pn/1qR8FXG)
* Junior doctors have begun what they say will be a permanent protest outside the Department of Health, to call for Britain's Jeremy Hunt to reopen talks and avert unprecedented strike action due to take place at end of the month. (http://ind.pn/1RTzGU1)
http://www.zerohedge.com/news/2016-04-14/frontrunning-april-14

_________________
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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** Thu Apr 14, 2016 11:05 am

Carol

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Post n°802

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Thu Apr 14, 2016 11:05 am

Treasury Secretary Jack Lew gives us clues about the current crisis

Apr 13, 2016

The US Treasury Secretary gave a speech to the Council on Foreign Relations yesterday that may provide some clues as to why the Fed has had three emergency meetings this week.

http://www.china.org.cn/world/Off_the_Wire/2016-04/12/content_38224949.htm

U.S. Treasury Secretary Jacob Lew on Monday called for reform of the international financial architecture to allow the United States to continue benefiting from the system.

In a speech delivered at the Council on Foreign Relations, a think tank, Lew said that the United States have reaped significant benefits from the international financial architecture put in place after World War II, and it has to take necessary steps to preserve and strengthen the country's position and secure the benefits.

The United States should work with its partners to further modernize the International Monetary Fund and the global trading system, make the World Bank and the regional development banks more efficient and effective, and reform the international financial regulatory system, Lew said.

With regard to the relationship with China, Lew said the United States and China have a unique responsibility to work together to advance shared prosperity, maintain a constructive global economic order, and make progress on critical challenges like climate change.

This article tells us that Jack Lew was concerned about the financial architecture (i.e., the Bretton Woods agreement) which established the US dollar as the world reserve currency. The agreement said that trade deficits between central banks would be settled in gold. That agreement ended when Nixon closed the “gold window” and took us off the gold standard in 1971, forcing nations to settle in US dollars instead.
Since the original gold backing the Federal Reserve Bank had been provided by the Dragon family in 1913, Nixon essentially broke the rules and caused a huge problem. The gold had been provided as a loan, but the bankers soon stole the gold or (mis)used it for their own purposes to make money with investments and power plays. That gold is now due for repayment, but it is no longer possible to repay, nor can they repay the interest that is also due.

A second gold shipment was sent by the Dragon family, dated August 17, 1945, to fund the newly-organized United Nations, which was registered in Batavia (now Jakarta), Indonesia. This was a 70-year charter/loan of just over 78 billion kg of gold worth $506,502,000,000 (US). This came due August 15, 2015, just in time for the great transfer of authority in prophecy.

Negotiations have been taking place behind the scenes, but from reports I have received, the western banks and Babylonian bankers do not have the money or gold to repay the debt. The Dragon families are thus negotiating for more authority in the new “international financial architecture,” so that the problem of theft is not repeated in the 21^st century.

This, I believe, is why Jack Lew is telling the CFR to “reform the international financial regulatory system” in order to make it “more efficient and effective.” It is also “to preserve and strengthen the country’s position and secure the benefits” of the previous arrangement. The Dragon families are demanding such changes, if the US wants to continue benefiting from its previous position of advantage under Bretton Woods.

Jack Lew says that his recommendations are to “preserve” the US’s position. In other words, the US is in danger of losing that position. That, I believe, is the underlying reason for this week’s emergency meetings. If something is not done immediately, the banking system set up after World War 2 will be in danger of collapse.

It is understandable that the Babylonian oligarchs do not want to give up power, but they are being forced to do so in spite of their foot-dragging. We will arrive at the moment of truth when the power shifts from West to East. This will be done the easy way or the hard way. But because the original city of Babylon fell intact, I believe that this will be done without wholesale destruction. The banking system itself is not the problem. The problem are the bankers who control it and who have taken advantage of their power to enrich themselves at others’ expense. With new people put into power (behind the scenes), the present-day bankers will have new overseers and will have to comply with their new rules and regulations.

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Is a financial crisis looming?

Apr 13, 2016

A flurry of high-level meetings are taking place this week that may indicate some sort of financial or bank crisis. It certainly appears that everyone is worried. First, on Monday the 11^th President Obama and Vice President Biden met in an “emergency” meeting to discuss unknown things. It is highly unusual (for security reasons) for both a president and a vice president to be in the same meeting at the same place. Likewise, this was an “unexpected” meeting, which says that something unexpected behind the scenes has forced this meeting to take place.

The photo op with Obama and Fed Chairman Yellen is pictured toward the bottom of the following article. She does not look happy.

https://www.superstation95.com/index.php/world/1144

The above article also tells us that the G-20 political and banking leaders are meeting in Washington on April 12 and 13, followed by an IMF meeting (also in Washington) on Thursday the 14^th. I do not recall ever seeing so many financial meetings in one place in the same week.

“Members of the House and Senate are said to have been ‘up all night’ in discussions and meetings; with floods of phone calls back and forth.

“More: Tuesday and Wednesday the G20 Finance Ministers and Central Bank Governors meet in DC and on Thursday the IMF and World Bank meet in DC as well.

“All the leading bankers in the world will be in DC this week.”

The author of the article speculates that this may have to do with the very survival of the US government. That may be greatly overstated, of course, but it does seem that we should brace ourselves for some big news shortly. This may be related to April 19. Recall that the arch of the temple of Baal was supposed to be erected in New York City on that date, but this has been cancelled. There is another event coming out of China that could change the dynamics of the world economic system—if not immediately, then certainly over time.

“Next Tuesday: The Chinese are scheduled to announce their switch from dollar to yuan on Tuesday, April 19th; which will send about two TRILLION in cash back to the US and send inflation skyrocketing overnight.”

China is actually setting up a yuan-backed gold exchange on April 19. Whether or not they will also make their entire currency gold-backed is, I think, just speculation at this point. Even so, it is certainly a date to watch, because whatever China does will be important.

The author of the article above is suggesting that we should prepare for the worst. Banks might be closed for a while, so one should have some extra cash on hand, he says. That is probably always a good idea as a general rule. He also says we should stock up on food. I don’t think that grocery store shelves will be emptied overnight, but some food storage has always been a good idea long-term.

The main thing is to pray and exercise your faith along with prudence. Do are you are led, and God will take care of you. Act always in faith, never in fear.

In his weblog dated April 12, 2016, Benjamin Fulford gives us his perspective on the emergency meeting with the Fed, saying,

"The Asian Dragon Family has offered the owners of the Federal Reserve Board staggering quantities of gold at a 13% discount from the market price. The idea is for 10% of this money to be spent on a massive campaign to end poverty, stop environmental destruction and send humanity on a path for exponential expansion into the universe. The ball is now in the court of the US regime in Washington DC. That is why the US President and Vice President are having an emergency meeting on April 11 with Federal Reserve Board Chairperson Janet Yellen. A member of the Dragon family will also be at that meeting, CIA sources in Asia say.

"If the Feds refuse the Asians, the BRICS nations and the Europeans will announce a new international gold backed currency that can be exchanged for US dollars during a three month period. After that period, the US dollar will no longer be accepted by at least 188 countries, leaving the Washington regime isolated and bankrupt."
http://benjaminfulford.net/

The kings of the east (“Dragon family”) are offering incentives for the Babylonian power brokers to return to the gold standard that they abandoned in 1971. The Asian families know that the West is bankrupt, and they are offering to refinance the banks if the power brokers will fix the system and move to an asset-backed system.
If Fulford’s statement is true, then the Babylonian power brokers have to decide whether to capitulate to the kings of the east or try to maintain power for a little longer.

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_________________
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** Thu Apr 14, 2016 2:58 pm

Carol

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Post n°803

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Thu Apr 14, 2016 2:58 pm

The IMF is turning into the ZeroHedge of economics

The IMF’s official world economic outlook is entitled, simply, “Too Slow For Too Long.” Here were the adjectives used by IMF Chief Economist Maurice Obstfeld in his introductory remarks, in just the first two paragraphs — “increasingly negative,” “too slow” and “progressively less optimistic.”

Lagarde herself, on Thursday, was saying a durable recovery is becoming elusive, that the risks to financial stability have increased, that advanced economies are being held down by weak demand, crisis legacies, unfavorable demographics and low productivity growth, and that emerging markets are being weighed down by the recessions in Brazil and Russia as well as the rebalancing in China.

http://www.marketwatch.com/story/the-imf-is-turning-into-the-zerohedge-of-economics-2016-04-14

_________________
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** Thu Apr 14, 2016 8:58 pm

Carol

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Post n°804

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Thu Apr 14, 2016 8:58 pm

Deutsche Bank to settle U.S. silver price-fixing litigation

Deutsche Bank AG has agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, a court filing on Wednesday showed.

Terms were not disclosed, but the accord will include a monetary payment by the German bank, a letter filed in Manhattan federal court by lawyers for the investors said.

Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation.

A Deutsche Bank spokeswoman declined to comment. Lawyers for the investors did not immediately respond to requests for comment.

Investors accused Deutsche Bank, HSBC and ScotiaBank of abusing their power as three of the world's largest silver bullion banks to dictate the price of silver through a secret, once-a-day meeting known as the Silver Fix.

According to the lawsuit, the defendants distorted prices on the roughly $30 billion of silver and silver financial instruments traded annually, violating U.S. antitrust law.

UBS AG was also named as a defendant. Investors accused the Swiss bank of conspiring to exploit the Silver Fix, though it did not help set the benchmark.

Spokesmen for HSBC and ScotiaBank declined to comment, saying they could not discuss pending litigation. A spokeswoman for UBS did not immediately respond to requests for comment.

The lawsuit is among several in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets.

The case is In re: London Silver Fixing Ltd Antitrust Litigation, U.S. District Court, Southern District of New York, No. 14-md-02573.

(Reporting by Jonathan Stempel in New York; editing by Grant McCool and Diane Craft)
More From Reuters

http://www.reuters.com/article/us-deutschebank-settlement-silver-idUSKCN0XA2RU

_________________
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** Thu Apr 14, 2016 9:00 pm

Carol

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Post n°805

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Thu Apr 14, 2016 9:00 pm

"Shanghai Shock: April 19th, 2016"

Bloomberg states that “there’s no evidence” that China seeks to adopt a traditional gold standard. 6/5/2015

China is warning foreign banks that they must participate in Yuan-based gold price fixing. The first-ever Chinese benchmark is set to launch in April of this year. 1/5/2016
....
Jim Willie recently commented:

The Gold market cannot be fixed by paper gold on a repeated basis, surely not in perpuity. When the Shanghai shock comes, all the Paper Gold structures will fall, all the FOREX derivatives will collapse, all the control rooms will go into panic mode.

If China were to partially back its yuan with gold it would require a gold price of $64,000 per ounce, 50 times gold bullion’s price today, according to a recent article from respected Bloomberg Intelligence.

China has been quietly accumulating a significant amount of gold bullion in recent years. They are now the top producer and top consumer of gold in the world.

They are believed to keep all of their domestic production, plus import significant amounts from other nations. In addition, they have been buying up gold mines around the globe atsteep discounts and bringing home gold they had stored in London, New York and Switzerland.

After accumulating all of this gold, along with their close ally Russia, many believe they will eventually break the metal free from the price manipulation undertaken by the banks/governments in the United States and United Kingdom.

Once price discovery moves from West to East, they will allow the price to float to free-market levels and the value of all the gold they have been accumulating will skyrocket.

Removing the gold price suppression will be accompanied by wholesale dumping of U.S. treasury bonds and test the world’s faith in the US dollar debt-based fiat currency system.

This will give China, Russia and others a greater influence in world financial markets and better stability in their currencies. It may give them a considerable strategic advantage over the United States, a nation that many believe no longer has the gold that they claim.

Indeed, with a lack of a comprehensive audit and unwillingness of officials to allow one, many believe the gold is no longer in Fort Knox.

Now we move to the really interesting part of this story. Not only has China been accumulating huge amounts of gold (on and off record), but they also launched their own international gold trading platform on the SGE.

It has become the largest physical gold exchange in the world, with an estimated 52 times more physical gold withdrawals versus the predominantly paper exchange of the COMEX.

Nixon announces the end of the U.S. gold standard. Rothschild may have gotten Libya & Ukraine’s gold but China is buying U.S. through Rothschild paper suppression of the physical gold/silver metals.

Fast forward to the first week of 2016 and China is warning foreign banks that they must participate in Yuan-based gold price fixing or lose their Chinese gold import rights.

This first-ever Chinese benchmark is set to launch in April of this year and could be a game-changer for gold prices moving forward.

Reuters reported today that:
China has warned foreign banks it could curb their operations in the world’s biggest bullion market if they refuse to participate in the planned launch of a yuan-denominated benchmark price for the metal, sources said.

The world’s top producer and consumer of gold has been pushing to be a price-setter for bullion as part of a broader drive to boost its influence on global markets.

Derived from a contract to be traded on the state-run Shanghai Gold Exchange, the Chinese benchmark is set to launch in April, potentially denting the relevance of the current global standard, the U.S. dollar-denominated London price.

In a trial run for the fix in April 2015, some foreign banks participated along with many major Chinese banks. Traders at those banks said earlier that while they were interested in the benchmarking process, their legal and compliance teams may be reluctant.

Perhaps a little sensationalized, but Jim Willie recently commented:

The Gold market cannot be fixed by paper gold on a repeated basis, surely not in perpuity. When the Shanghai shock comes, all the Paper Gold structures will fall, all the FOREX derivatives will collapse, all the control rooms will go into panic mode.

The Shanghai shock is not likely to materialize all at once and cause an immediate collapse of the dollar, the COMEX or our fiat monetary system. However, it is another nail in the proverbial coffin and significantly increases the odds of more honest price discovery in precious metals as it moves from West to East.

The red line in the chart below shows Asian gold reserves as a percentage of total gold reserves. The percentage has been rising steadily for decades, but the pace of the increase has picked up significantly since the 2008/09 financial crisis.

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 4850911_orig

If you believe that the gold price has been suppressed in order to maintain faith in fiat money and allow governments to continue deficit spending to secure their power, it is logical to conclude that gold prices may rise sharply as the disconnect between paper and physical pricing intensifies.

And it would make sense for China, Russia and other BRICS nations to push for such a transition, as it would diminish the dominance of the United States in global trade and finance, leveling the playing field.

In any event, it will be an interesting development to watch during 2016. I believe it could be another catalyst in a long list that could cause a spike in gold and silver prices.
Silver 5Xs More Rare Than Gold Above Ground.

Keeping with the issue of official sales, governments at present only hold at most 60 million ounces of silver, as compared with 1 billion ounces of gold. Among those who run our world,silver is now far rarer than gold.

However the “natural” ratio including in ground is 9:1 silver/gold therefore if gold hits $64k silver is 9xs less at $7k.

LINK: https://politicalvelcraft.org/2016/02/01/shanghai-shock-april-19-2016-yuan-based-gold-standard/

Last edited by Carol on Thu Apr 14, 2016 9:04 pm; 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** Thu Apr 14, 2016 9:03 pm

Carol

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Post n°806

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Thu Apr 14, 2016 9:03 pm

Zero Hedge: Deutsche Bank Admits It Rigged Gold Prices, Agrees To Expose Other Manipulators
we expect that now that DB has "turned" that much more curious information about precious metals rigging will emerge, and will confirm what the "bugs" had said all along: that the precious metals market has been rigged all along."
This was confirmed moments ago when Reuters reported that Deutsche Bank has also reached a settlement in US litigation alleging the bank conspired to fix gold prices. In other words, hours after admitting it was rigging the silver market, it did the same for gold. http://www.zerohedge.com/news/2016-04-14/first-silver-now-gold-deutsche-bank-admits-it-also-rigged-gold-prices-legal-settleme

_________________
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 Apr 15, 2016 12:04 am

Carol

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Post n°807

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 12:04 am

Dave Hodges: Current Banker Meetings Are Deciding How to Confiscate Your Bank Account and Retirement

Date: Wednesday, 13-Apr-2016

If you talk with the average man or woman on the street who rely on the MSM to provide news updates, I bet that very few will have any inkling that this is happening right now...

Current Banker Meetings Are Deciding How to Confiscate Your Bank Account and Retirement
Dave Hodges | The Common Sense Show
Apr 13, 2016
http://bit.ly/1WsOLhh

[snip]

In the midst of the looming economic Armageddon, some are reporting that the banks have just begun to horde gold. Run from these authors. For over three years, I have been imploring people to buy gold in order to replace the cash that will soon be gone. Three years ago, Goldman Sachs was ordering its brokers to short gold.

The fact is, the criminal elite have solidified their hedges against currency collapse by focusing on the acquisition of gold by any means possible.

The bankers and government are meeting this week. At issue is the confiscation of your assets to facilitate a bailout of the banks. This time they are playing for keeps.

Here is what we know:

From David Haggith and Activist Post:

• “The Federal Reserve Board of Governors just held an “expedited special meeting” on Monday in closed-door session.

• The White House made an immediate announcement that the president was going to meet with Fed Chair Janet Yellen right after Monday’s special meeting and that Vice President Biden would be joining them.

• The Federal Reserve very shortly posted an announcement of another expedited closed-door meeting for Tuesday for the specific purpose of “bank supervision.”

• A G-20 meeting of finance ministers and central-bank heads starts in Washington, DC, on Tuesday, too, and continues through Wednesday.

• Then on Thursday the World Bank and the International Monetary Fund meet in Washington.

• The Federal Reserve Bank of Atlanta just revised US GDP growth for the first quarter to the precipice of recession at 0.1%.

• US banks are widely expected this week to report their worst quarter financially since the start of the Great Recession.

• The European Union’s new “bail-in” procedures for failing banks were employed for the first time with Austrian bank Heta Asset Resolution AG.

• Italy’s minister of finance called an emergency meeting of Italian bankers to engage “last resort” measures for dealing with 360-billion euros of bad loans in banks that have only 50 billion in capital”.

What does this all mean? If we are lucky, there will be a new round of austerity (i.e. bail outs). This is not likely as bail-outs will not have much of an effect on the banks given the gravity of the economic condition of the banks.

On this front, there is bad news and really bad news. The bad news is that your money could be rationed back to you with capital limits (i.e. how much you can withdraw). All deposits will be made electronically. Cash withdrawals will soon be outlawed. All paychecks must be direct deposited into a bank before the bank customer has access to their paycheck. This will give the Federal Reserve complete control over earned income in the United States.

What this adds up to is that all world currencies will soon collapse. Private gold ownership will soon be made illegal. In other words, you will not be able to obtain private gold ownership much longer...

_________________
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 Fri Apr 15, 2016 1:18 am

B.B.Baghor

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Post n°808

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

B.B.Baghor Fri Apr 15, 2016 1:18 am

Quote from former post:

"On this front, there is bad news and really bad news. The bad news is that your money could be rationed back to you with capital limits (i.e. how much you can withdraw). All deposits will be made electronically. Cash withdrawals will soon be outlawed. All paychecks must be direct deposited into a bank before the bank customer has access to their paycheck. This will give the Federal Reserve complete control over earned income in the United States".

Will this move over to Europe as well? If so and if what's said below is true for the UK too, I will begin to stock money in a long stocking under my mattress, for the first time in my life and maybe walk around with one bare chicken- leg to keep a sense of humour and be reminded of it Cheerful

The Federal Reserve and the Bank of England Have Already Rehearsed the Theft of Your Bank Account

The theft of the people’s money has already been rehearsed by the powers that be in the banking industry. Regulators from the United States and
the United Kingdom got together in a war room to see how they will cope when the next big bank failures come.

Treasury Secretary Jack Lew and the UK’s Chancellor of the Exchequer, George Osborne, on Monday (11/10/)4), ran a joint exercise simulating how they would prop up a large bank (e.g. Bank of America) with operations in both countries that has landed itself in trouble. Also taking part in the
“bank failure drill” was Federal Reserve Chair Janet Yellen and Bank of England Governor Mark Carney, and the heads of a large number of other regulators, in a meeting hosted by the U.S. Federal Deposit Insurance Corporation. Then they brought in the military into the drill and they practiced how they would protect their assets from the public when the banks fail and retirement accounts are seized as collateral by the government.

Your Bank Account Has No Protection

The FDIC has only about $25 billion in its deposit insurance fund, which is mandated by law to keep a balance equivalent to only 1.15% of insured deposits. If a banking collapse were to be on the near horizon, the banksters are not going to notify you because they would not want to incite a
bank run. With only 1.15% of all deposits being insured by the FDIC, your money would be left vulnerable and only the elite would be warned as they quietly transfer their money to a safer haven, such as gold. How do I know this? Please read on.

In November 2014, Goldman Sachs Opened the Gates to Hell-Today, the Federal Reserve Is Now Taking Up Residency In Hell

Silver prices have dropped dramatically covering an aggregate period of 36 months. Panic selling dominated the market as investors and financial institutions could not dump their holdings of silver and gold fast enough. The market clearly shows signs of mass manipulation by the Globalists.
The globalists have been moving their fiat currency holdings to gold since the Spring of 2013. The price of gold was artificially manipulated by Goldman Sachs to drive down the price of gold in order to make it cheaper for the powers-that-be to purchase gold cheaply. You see, they know that very soon, there will no money left in the banks.

You want proof? The best proof that the globalists are manipulating the price of gold comes from “Goldman Sachs (who), in the Spring of 2013, told their ..... that they recommend initiating a short COMEX gold position.” B.B: what that is is explained here:
http://www.washingtonsblog.com/2013/04/congressman-grayson-asks-for-an-investigation-into-federal-reserves-fomc-leak.html

This is your last chance to buy gold. Please remember, your cash will still be gone. Gold and silver will be your last chance to preserve what you have.

**Carol** Fri Apr 15, 2016 7:28 am

Carol

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Post n°809

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 7:28 am

BRICS join forces on IMF quota formula reform
Published time: 15 Apr, 2016 09:40

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 5710b444c461880f648b457b

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 5710b444c461880f648b457b

Brazil, Russia, India, China and South Africa have agreed to take a unified stance on the International Monetary Fund (IMF) quota system revisions.

"We need to take a united position on the quota reviews. Such reviews should in the first place be based on GDP figures, calculated by purchasing power parity (PPP)... Everyone has agreed to this,” said Russian Finance Minister Anton Siluanov on Thursday after a meeting with BRICS finance ministers.

Read more

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 56a9facfc461883f138b45f1

BRICS gets greater say in IMF

The current quota formula is a weighted average of GDP (weight of 50 percent), openness (30 percent), economic variability (15 percent), and international reserves (5 percent). The GDP is measured through a blend of GDP—based on market exchange rates (weight of 60 percent)—and on PPP exchange rates (40 percent).

According to the Russian Finance Minister, GDP is one of the key indicators, and its greater weight in the formula will take into account the interests of developing countries, which are now under-represented in the IMF, as their economies are developing dynamically.

The reform of IMF was adopted back in 2010, but was delayed until December 2015 due to the position of the US Congress, when it ratified the so-called 14th General Quota Review.

Under the new rules, China’s quota has reached 6.4 percent; Russia and India now have 2.7 percent each with Brazil and South Africa having 2.3 and 0.6 percent, respectively. This gives a total of 14.7 percent against 11.5 percent before. The US is the biggest member of the IMF and is the only one to have a veto, as 15 percent is a blocking share.

Now, the developing economies are looking to alter the formula of the quota. Some of them doubt that such indicators as openness and economic variability should play such a big role in the formula.

https://www.rt.com/business/339694-brics-imf-quota-investment/

Last edited by Carol on Fri Apr 15, 2016 12:55 pm; 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** Fri Apr 15, 2016 7:37 am

Carol

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Post n°810

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 7:37 am

The IMF’s Special Drawing Rights, the RMB and gold
Posted by: Gold Money
Post date: 04/14/2016 - 22:29
At the latest G20 meeting, China’s central bank vowed to promote the use of SDRs in the Chinese economy, just four months after the IMF decided to include the RMB as part of the currency basket un-...

On April 1, 2016, China’s central bank Governor Zhou Xiaochuan announced that the Chinese government will take actions to promote the use of SDRs in its domestic economy. The announcement was made at the end of a meeting of the G20 in Paris, which is hosted by China this year. China will start to use both the USD and SDRs when reporting its foreign reserves. In addition, the country will also consider issuing bonds denominated in SDRs. This comes five month after the International Monetary Fund (IMF) decided to include the Chinese Renminbi as a fifth currency to the basket of Special Drawing Rights (SDR) along with the U.S. dollar, the Euro, the Japanese yen and the British pound. The change takes effect on October 1, 2016. This marks the first major change of the constituents of the basket since 1981 when the IMF dropped 11 out of 16 currencies in the original basket. However, when the SDR was introduced in 1969, it was not based on a basket of currencies but linked to gold, 0.888671 grams to be precise, which, at the time, equaled exactly 1 US dollar. The SDR basket based on the original weighting of 16 currencies declined around 87.7% in value vs gold until today. Similarly, the basket introduced in 1978 has lost 84.4%. The smaller 5 currency basket introduced in 1981 is down 55.5% and the current basket is down 77.0% since its introduction in 2001.

Taking interest payments into account hardly changes the outcome. It is obvious today that for net holders of SDRs, breaking the link to gold had a negative impact on their reserve value. This is hardly surprising as any currency has under-performed gold over the past 10 years and any timeframe beyond that. Hence, it’s not that the currencies in the basket were Summary poorly chosen or poorly weighted, no combination would have managed to do better than gold, whether the RMB would have been part of the basket all along or not. While it is far too early to conclude that China is challenging the dollar's dominant reserve position, RMB inclusion in the SDR will nevertheless have a profound impact on percep-tions not only of China's growing economic power generally but monetary power specifically. But while the impact of the inclusion of the RMB should not be underestimated, it is unlikely that this will change the trend that gold outperforms any fiat currency.

The full article with additional charts and tables is published on GoldMoney.com can be downloaded here. https://www.goldmoney.com/research/goldmoney-insights/the-imfs-special-drawing-rights-the-rmb-and-gold
http://www.zerohedge.com/news/2016-04-14/imf’s-special-drawing-rights-rmb-and-gold

_________________
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

enemyofNWO Fri Apr 15, 2016 8:28 am

enemyofNWO

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Post n°811

FANTASTIC NEWS

enemyofNWO Fri Apr 15, 2016 8:28 am

This is FANTASTIC NEWS
1) Deutsche Bank Admits It Rigged Gold Prices, Agrees To Expose Other Manipulators

quote from Zerohedge
"Well, that didn't take long.

Earlier today when we reported the stunning news that DB has decided to "turn" against the precious metals manipulation cartel by first settling a long-running silver price fixing lawsuit which in addition to "valuable monetary consideration" said it would expose the other banks' rigging having also "agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement" we said "since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has "turned" that much more curious information about precious metals rigging will emerge, and will confirm what the "bugs" had said all along: that the precious metals market has been rigged all along."

This was confirmed moments ago when Reuters reported that Deutsche Bank has also reached a settlement in US litigation alleging the bank conspired to fix gold prices. In other words, hours after admitting it was rigging the silver market, it did the same for gold. " end of quote
continue at
http://www.zerohedge.com/news/2016-04-14/first-silver-now-gold-deutsche-bank-admits-it-also-rigged-gold-prices-legal-settleme

2) The Economy: “China Says ‘No Dollars’ For New Yuan”
http://beforeitsnews.com/opinion-liberal/2016/04/the-economy-china-says-no-dollars-for-new-yuan-2526381.html

So the USA dollar cannot be used to buy the New gold backed Yuan ! So the dollar is toast ! and end of the Zionist empire .

Other consequences of the demise of the dollar are : the dollar = Zero value is a problem of national security !

Would the election be postponed and the dictator in charge stay on ?

Would the USA attack China in the South China Sea ?

http://www.zerohedge.com/news/2016-04-14/first-silver-now-gold-deutsche-bank-admits-it-also-rigged-gold-prices-legal-settleme

**Carol** Fri Apr 15, 2016 12:06 pm

Carol

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Post n°812

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 12:06 pm

We Are Knee Deep in the Transition Now!
Bix Weir <bix@roadtoroota.com>

We are knee deep in the transition now! It is obvious to those of us who know what's going on.

The rest of the world will clue in soon enough and then it's BAR THE DOORS for getting out of the electronic system and into silver, gold and Bitcoin!

There are no other choices that do not involve those who got us in this mess in the first place.

And "They" will not be trusted to FIX the problem.

I have posted the latest Friday Road Trip for Private Road Members here:

http://www.roadtoroota.com/members/Friday_Road_Trip_4152016.cfm

There are many "Road Signs" showing up just at the right moment in this Epic Battle and I discuss the following topics in this week's Road Trip:

- Calling Out Blythe Masters
- Why Silver Prices Are NOT Moving
- Roota Speaks Out...and It's Ain't Good!
- Ex-Good Guy Comes Out of Hiding to Give a Little Push to the Crash
- Liquidity Can (and will) End Instantly
- Bye, Bye Greece...Hello Italy!
- "Good Guy" Warrior Takes off For the Bunker
- Financial Times Attacks Gold But Misses "Elephant in the Room"

Watch for oil prices to fall back into the low $30's next week and the $20's in the weeks to follow as the Good Guys are pulling out all the stops to destroy the Banksters oil and gas assets.

May the Road you choose be the Right Road.

Bix Weir
www.RoadtoRoota.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

B.B.Baghor Fri Apr 15, 2016 12:35 pm

B.B.Baghor

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Post n°813

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

B.B.Baghor Fri Apr 15, 2016 12:35 pm

How to say it simple in 1:37 minutes. In a Dutch tv program called "Tegenlicht", which means "Backlight"
https://www.youtube.com/watch?v=TJQZYbBD_wg

**Carol** Fri Apr 15, 2016 12:37 pm

Carol

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Post n°814

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 12:37 pm

Christine Lagarde speaks on CNBC's Squawk Box 4-14-16

4/15/2016

CNBC Transcript: CNBC’s Sara Eisen Speaks with IMF Managing Director Christine Lagarde Today on CNBC’s “Squawk on the Street”

21 Hours AgoCNBC.com

WHEN: TODAY, THURSDAY, April 14, 2016

WHERE: CNBC'S "SQUAWK ON THE STREET"

Following is the unofficial transcript of a CNBC interview with IMF Managing Director Christine Lagarde during CNBC's "Squawk on the Street." Following is a link to video of the interview on CNBC.com:

http://video.cnbc.com/gallery/?video=3000508348&play=1.

[size=30]Lagarde on 2016 rate hike: Let's hope so[/size]
Thursday, 14 Apr 2016 | 4:48 AM HT
CNBC's Sara Eisen speaks with IMF Managing Director Christine Lagarde about the Federal Reserve and the likelihood of a rate hike this year.

All references must be sourced to CNBC.

_________________
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 Apr 15, 2016 12:39 pm

Carol

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Post n°815

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 12:39 pm

First Silver, Now Gold: Deutsche Bank Admits It Also Rigged Gold Prices
http://www.zerohedge.com/news/2016-04-14/first-silver-now-gold-deutsche-bank-admits-it-also-rigged-gold-prices-legal-settleme

Reaches settlement in U.S. litigation alleging it conspired to fix gold prices.
Plaintiffs' lawyers, in filing, say Deutsche Bank has signed a settlement term sheet
Plaintiffs' lawyers say are negotiating formal settlement agreement that would be presented for judge's approval later
Plaintiffs' lawyers say settlement contemplates a monetary payment by Deutsche Bank
Gold settlement follows similar accord involving alleged silver price-fixing that was disclosed on Wednesday

END

So here we go. Gold and silver disclosure is happening as we speak although the Fed and US Treasury still have the prices under their wing as they don't want to cause a panic.

One thing is for sure... we are know what all those Emergency Fed meetings were all about!!

It is very possible, if not likely, that the COMEX and LBMA will continue to rig the electronic prices until they SHUT DOWN but the RACE now is for everyone to get their hands on PHYSICAL gold and silver before the rest of the world catches on.

Boy is this getting exciting!!

May the Road you choose be the Right Road.

Bix Weir
www.RoadtoRoota.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** Fri Apr 15, 2016 12:44 pm

Carol

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Post n°816

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 12:44 pm

Beams: The formula goes like this. When there's too much fiat currency running the planet, a gold backed system must be implemented to reign it all back in and re-balance it. It's a recalibration act, and it's happened many times in Humanity's true History.

The Fed Sends A Frightening Letter To JPMorgan,
Corporate Media Yawns
Submitted by Tyler Durden on 04/15/2016 11:20 -0400

Submitted by Pam Martens and Russ Martens via WallStreetOnParade.com,

Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system.
A rational observer of Wall Street’s serial hubris might have expected some key segments of this letter to make it into the business press. A mere eight years ago the United States experienced a complete meltdown of its financial system, leading to the worst economic collapse since the Great Depression. President Obama and regulators have been assuring us over these intervening eight years that things are under control as a result of the Dodd-Frank financial reform legislation. But according to the letter the Fed and FDIC issued on April 12 to JPMorgan Chase, the country’s largest bank with over $2 trillion in assets and $51 trillion in notional amounts of derivatives, things are decidedly not under control.
At the top of page 11, the Federal regulators reveal that they have “identified a deficiency” in JPMorgan’s wind-down plan which if not properly addressed could “pose serious adverse effects to the financial stability of the United States.” Why didn’t JPMorgan’s Board of Directors or its legions of lawyers catch this?
It’s important to parse the phrasing of that sentence. The Federal regulators didn’t say JPMorgan could pose a threat to its shareholders or Wall Street or the markets. It said the potential threat was to “the financial stability of the United States.”
That statement should strike fear into even the likes of presidential candidate Hillary Clinton who has been tilting at the shadows in shadow banks while buying into the Paul Krugman nonsense that “Dodd-Frank Financial Reform Is Working” when it comes to the behemoth banks on Wall Street.
How could one bank, even one as big and global as JPMorgan Chase, bring down the whole financial stability of the United States? Because, as the U.S. Treasury’s Office of Financial Research (OFR) has explained in detail and plotted in pictures (see below), five big banks in the U.S. have high contagion risk to each other. Which bank poses the highest contagion risk? JPMorgan Chase.

The OFR study was authored by Meraj Allahrakha, Paul Glasserman, and H. Peyton Young, who found the following:

“…the default of a bank with a higher connectivity index would have a greater impact on the rest of the banking system because its shortfall would spill over onto other financial institutions, creating a cascade that could lead to further defaults. High leverage, measured as the ratio of total assets to Tier 1 capital, tends to be associated with high financial connectivity and many of the largest institutions are high on both dimensions…The larger the bank, the greater the potential spillover if it defaults; the higher its leverage, the more prone it is to default under stress; and the greater its connectivity index, the greater is the share of the default that cascades onto the banking system. The product of these three factors provides an overall measure of the contagion risk that the bank poses for the financial system.”

The Federal Reserve and FDIC are clearly fingering their worry beads over the issue of “liquidity” in the next Wall Street crisis. That obviously has something to do with the fact that the Fed has received scathing rebuke from the public for secretly funneling over $13 trillion in cumulative, below-market-rate loans, often at one-half percent or less, to the big U.S. and foreign banks during the 2007-2010 crisis. The two regulators released background documents yesterday as part of flunking the wind-down plans (living wills) of five major Wall Street banks. (In addition to JPMorgan Chase, plans were rejected at Wells Fargo, Bank of America, State Street and Bank of New York Mellon.) One paragraph in the Resolution Plan Assessment Framework and Firm Determinations (2016) used the word “liquidity” 11 times:

“Firms must be able to reliably estimate and meet their liquidity needs prior to, and in, resolution. In this regard, firms must be able to track and measure their liquidity sources and uses at all material entities under normal and stressed conditions. They must also conduct liquidity stress tests that appropriately capture the effect of stresses and impediments to the movement of funds. Holding liquidity in a manner that allows the firm to quickly respond to demands from stakeholders and counterparties, including regulatory authorities in other jurisdictions and financial market utilities, is critical to the execution of the plan. Maintaining sufficient and appropriately positioned liquidity also allows the subsidiaries to continue to operate while the firm is being resolved. In assessing the firms’ plans with regard to liquidity, the agencies evaluated whether the companies were able to appropriately forecast the size and location of liquidity needed to execute their resolution plans and whether those forecasts were incorporated into the firms’ day-to-day liquidity decision making processes. The agencies also reviewed the current size and positioning of the firms’ liquidity resources to assess their adequacy relative to the estimated liquidity needed in resolution under the firm’s scenario and strategy. Further, the agencies evaluated whether the firms had linked their process for determining when to file for bankruptcy to the estimate of liquidity needed to execute their preferred resolution strategy.”

Apparently, the Federal regulators believe JPMorgan Chase has a problem with the “location,” “size and positioning” of its liquidity under its current plan. The April 12 letter to JPMorgan Chase addressed that issue as follows:

“JPMC does not have an appropriate model and process for estimating and maintaining sufficient liquidity at, or readily available to, material entities in resolution…JPMC’s liquidity profile is vulnerable to adverse actions by third parties.”

The regulators expressed the further view that JPMorgan was placing too much “reliance on funds in foreign entities that may be subject to defensive ring-fencing during a time of financial stress.” The use of the term “ring-fencing” suggests that the regulators fear that foreign jurisdictions might lay claim to the liquidity to protect their own financial counterparty interests or investors.

JPMorgan’s sprawling derivatives portfolio that encompasses $51 trillion notional amount as of December 31, 2015 is also causing angst at the Fed and FDIC. The regulators wanted more granular detail on what would happen if JPMorgan’s counterparties refused to continue doing business with it if rating agencies cut its credit ratings. The regulators asked for a “narrative describing at least one pathway” for winding down the derivatives portfolio, taking into account a number of factors, including “the costs and challenges of obtaining timely consents from counterparties and potential acquirers (step-in banks).” The regulators wanted to see the “losses and liquidity required to support the active wind-down” of the derivatives portfolio “incorporated into estimates of the firm’s resolution capital and liquidity execution needs.”
According to the Office of the Comptroller of the Currency’s (OCC) derivatives report as of December 31, 2015, JPMorgan Chase is only centrally clearing 37 percent of its derivatives while a whopping 63 percent of its derivatives remain in over-the-counter contracts between itself and unnamed counterparties. The Dodd-Frank reform legislation had promised the public that derivatives would all become exchange traded or centrally cleared. Indeed, on March 7 President Obama falsely stated at a press conference that when it comes to derivatives “you have clearinghouses that account for the vast majority of trades taking place.”
But the OCC has now released four separate reports for each quarter of 2015 showing just the opposite of what the President told the press and the public on March 7. In its most recent report the OCC, the regulator of national banks, states that “In the fourth quarter of 2015, 36.9 percent of the derivatives market was centrally cleared.”

Equally disturbing, the most dangerous area of derivatives, the credit derivatives that blew up AIG and necessitated a $185 billion taxpayer bailout, remain predominately over the counter. According to the latest OCC report, only 16.8 percent of credit derivatives are being centrally cleared. At JPMorgan Chase, more than 80 percent of its credit derivatives are still over-the-counter.

_________________
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 Fri Apr 15, 2016 12:57 pm

B.B.Baghor

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Post n°817

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

B.B.Baghor Fri Apr 15, 2016 12:57 pm

https://www.youtube.com/watch?v=Zqbx0YIc3b8

Elias Tsolakidis, the grey-haired manager of the "potato-movement" in a beautiful statement:
"Building a new society, without dreams where others have to pay for."

The year 2013: Greece is building up its economy from the bottom up, with farmers bringing their products
to open spaces, where customers wait to buy, for a lower price, without the mediation of retail. That's the name
of the new movement too. It all began when farmers grew so mad for receiving a ridicilous low price, that they just
offered their harvest for free to the people in Greece. The spoken words in this video are in English, Greek and Dutch.
Combined with the scenes in the video, it speaks clearly enough I think. I hope. It's a beautiful example of how
Greece manages to be a frontrunner.... again, as it once laid the foundation of our European civilisation system.

Last edited by B.B.Baghor on Fri Apr 15, 2016 2:15 pm; edited 1 time in total

**Carol** Fri Apr 15, 2016 1:41 pm

Carol

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Post n°818

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 1:41 pm

CHINA SAYS "NO DOLLARS" FOR NEW YUAN

Post by U.S.Reporter - Apr 13, 2016

In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.

When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets.

But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been "staggering." And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade: The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold. Which currency would YOU use?

When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars. But they won't be able to dump them to China for the new gold-backed, Yuan!
China has reportedly decided "there can be no conversion of gold-backed Yuan to or from US dollars." What China fears is that many countries around the world will want to trade their reserve US dollars for the new Yuan, leaving China with mountains of worthless US dollars. China already has several trillion in US dollar reserves and does not want or need more.

If news of this decision by China is correct, then countries around the world may just have to decide whether or not they wish to continue trading with the USA at all?

The upheaval this could cause as early as next week, would be staggering.

This is a fast-=developing story; check back.

https://www.superstation95.com/index.php/world/1152?utm_source=Copy+of+April+13th&utm_campaign=Sep.+3rd&utm_medium=email%3CIMG%20SRC=

Last edited by Carol on Fri Apr 15, 2016 1:46 pm; 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** Fri Apr 15, 2016 1:45 pm

Carol

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Post n°819

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 1:45 pm

https://www.youtube.com/watch?v=6Djdi675Aeo

Dr. Jim Willie: The Dollar is Dead! Even Mainstream Media Realizes it!

Want to know Why the Super Rich Leaving Major Cities, Even Renouncing Citizenship? In the video below, Dr. Willie explains something that a recent article below by Michael Snyder points out as well. People are are finally catching on to the fact that QE (Quantitative Easing) and ZIRP (Zero Interest Rate Policy) are NOT stimulus agents to the US economy, or anywhere else they are being employed, but rather they are a death sentence to the U.S. economy, and the economies whose central banks are employing the tactics, which is almost everywhere.

Dr. Willie explains that the Fed is in a real jam. The Fed is completely stuck because it has to employ the global financial derivative machinery, but unfortunately, there is nowhere near adequate demand for Treasury Bonds, so to compensate for that, the Fed keeps printing more money, and in effect “monetizing the debt.” For more on the subject, Dr. Willie has covered more than once how the US Dollar is now being manipulated through a top secret fund know as the Exchange Stabilization Fund, because the US Dollar is now deemed a matter of national security by the US Government.

Dr.Willie explains that “Monetizing the debt,” is really just a Zimbabwe monetary type policy where the Fed is printing paper money to pay our debts back with dollars that are worth less than the dollars we borrowed. “Monetizing the debt,” is just another name for for Quantitative Easing, which is just another name for printing unlimited amounts of money, which is just another name for an economic death sentence for any country dumb enough to be partaking in such foolishness. It’s a Band-Aid over the situation intended to last just long enough for those with something to lose (the global elites) to protect themselves.

Quantitative easing, or the “monetizing of the debt,” whatever you want to call it, is really the most deadly, most lethal policy that any central bank can partake in, and it’s being done on the US Dollar, with the Global Reserve Status hanging in the balance. The end result, Dr. Willie Explains, is un-sterilized hyper-monetary inflation, which is an absolute death warrant for the US dollar.

Foreseeing the global economic nightmare ahead, countries like Russia and China have been wise to distance themselves from Rothschild controlled central banks, (also large reason Soros attacked Putin via the “Panama Papers”), and why the Chinese have already invested, and successfully tested the successor to the US Swift Banking System, no doubt one of the largest non-military weapons the U.S. has been able to wield for decades.

After the interview with Dr. Jim Willie, you can find several CRUCIAL interviews with Dr. Jim Willie, Peter Schiff, and Harry Dent explaining that a “Global Currency” reset is coming, with even more links to supporting articles at the bottom. What should frighten people into beginning to prepare, is what Michael Snyder calls to attention in his more recent post titled: Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic.

The article points out how even MAJOR news outlets are beginning to give in to the fact that a global currency reset is coming.

_________________
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 Apr 15, 2016 7:04 pm

Carol

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Post n°820

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Fri Apr 15, 2016 7:04 pm

https://www.youtube.com/watch?v=9FI01zevYxM&feature=youtu.be
Rob Kirby-Dollar Devaluation Clock About to Strike Midnight

Published on Apr 14, 2016
Could there be a dramatic and overnight reduction in the value of the dollar? Kirby contends, “I think this is coming in very short order now. The trail of bread crumbs is indicating this is what is afoot right now.”

Does that mean dollar devaluation and a bank “holiday” coming soon? Kirby says, “How quickly this happens is open for conjecture, but that is clearly the direction we are heading. We are unmistakably headed in that direction. The only real question is how long these criminal central bankers can MacGyver the system together and keep it together with elastic bands, paperclips and bungie cords. This is going down. This is going to happen. I think it’s going down in the next two or three weeks. . . .We’ve all speculated that this would eventually happen. Now we are here, and the clock is about to strike midnight.”

What have the President and the VP been told by the Fed Chairman in these emergency meetings this week? Kirby says, “My guess is they are probably explaining to them just how deep the pooh is that they are about to be thrown into. It’s deep, and it’s going to be over their heads. . . . Historically, when banks have nothing else they can do, they take us to war.”

If they don’t take us to war? Kirby says, “Everything is on the table. . . . My thinking is there are an awful lot of U.S. dollars out there right now that are going to be coming home to America. . . . The adjustment in global reserve accounts could create a tsunami of dollars coming back to America in a very, very short period of time. That could trigger something approaching a hyperinflationary event or, at least, stagflation and super inflationary pressure. That’s the minimum occurring very, very soon.”

About the recent revelation of Deutsche Bank suppressing the price of physical gold and silver? Kirby points out, “The price rigging ultimately comes back to and will be shown that it really is an operation of the U.S. Treasury and the U.S. Federal Reserve. . . . The short interests, or the paper sales of precious metals, have been used on purpose to suppress the growing demand for precious metals, or to make it appear that people are still happy with dollars and don’t prefer precious metals to dollars. . . . Whether the U.S. central bank declares that gold or silver are not money in some hubris filled silliness doesn’t diminish the fact that gold and silver are money, and your U.S. Constitution says gold and silver are money.”

Join Greg Hunter as he goes One-on-One in a pivotal interview with Rob Kirby of KirbyAnalytics.com.

All links can be found on USAWatchdog.com: http://usawatchdog.com/tsunami-of-dol...

_________________
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 Sat Apr 16, 2016 3:45 pm

B.B.Baghor

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Post n°821

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

B.B.Baghor Sat Apr 16, 2016 3:45 pm

https://youtu.be/RpAccwLo9Ig

**Carol** Sun Apr 17, 2016 9:19 am

Carol

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Post n°822

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Apr 17, 2016 9:19 am

https://www.youtube.com/watch?v=vZ_-l2D9b98
Bail-Ins Are Here: Banks Have Less Than HALF A CENT For Each Dollar - Mike Maloney

Published on Apr 14, 2016

Catch the latest breaking news at http://www.goldsilver.com Did you realize that the banking system likely holds less than half a cent for each dollar they have? If you enjoyed watching this video, be sure to check out the Hidden Secrets of Money website at https://www.hiddensecretsofmoney.com/. It’s a world-leading educational series by Mike Maloney, the bestselling author of the Guide to Investing in Gold & Silver. As Mike explains in the series and his book, we live in an economic system that is made complicated by design. Basically, it’s set up so most people don’t even try to understand it. In Mike’s videos, he breaks down these concepts using easy-to-follow analogies, real pages from history, and animations that tie it all together.
And be sure to follow Mike on social media to stay up to date on his latest news and posts:
Facebook: https://www.facebook.com/OfficialMike...
Twitter: https://twitter.com/mike_maloney

_________________
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 Apr 17, 2016 9:21 am

Carol

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Post n°823

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Apr 17, 2016 9:21 am

Saudi Arabia Threatens To Liquidate Its Treasury Holdings If Congress Probes Its Role In Sept 11 Attacks

Submitted by Tyler Durden on 04/17/2016 - 09:13

Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

Back in January, when the market was watching in shocked silence as oil prices were crashing to decade lows and as concerns emerged that Saudi Arabia may need to commence selling its vast, if unquantified, USD reserves, we wrote a post titled "Attention Finally Turns To Saudi Arabia's "Secret" US Treasury Holdings" where we noted something very surprising: whereas we do know that Saudi Arabia is the owner of the world's third largest USD reserves...

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 SaudiReserves_0

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 SaudiReserves_0

... their actual composition remains as a secret, because while the US discloses the explicit Treasury holdings of all other nations, Saudi Arabia's holdings, for some unknown reason, are not officially disclosed.

"It’s a secret of the vast U.S. Treasury market, a holdover from an age of oil shortages and mighty petrodollars," Bloomberg wrote of Saudi Arabia’s US Treasury holdings.
"As a matter of policy, the Treasury has never disclosed the holdings of Saudi Arabia, long a key ally in the volatile Middle East, and instead groups it with 14 other mostly OPEC nations including Kuwait, the United Arab Emirates and Nigeria,” Bloomberg goes on to note, adding that the rules are different for almost everyone else. Although Saudi Arabia's "secret" is protected by "an unusual blackout by the U.S. Treasury Department," for more than a hundred other countries, from China to the Vatican, the Treasury provides a detailed breakdown of how much U.S. debt each holds."

More: http://www.zerohedge.com/news/2016-04-16/saudi-arabia-threatens-us-it-will-liquidate-its-treasury-holdings-if-congress-passes

Last edited by Carol on Sun Apr 17, 2016 9:24 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** Sun Apr 17, 2016 9:23 am

Carol

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Post n°824

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Apr 17, 2016 9:23 am

China Embraces Gold In Advance Of Post-Dollar Era

Submitted by Tyler Durden on 04/16/2016 - 20:50

To challenge the US dollar hegemony and increase its power in the global realm of finance, China has a potent gold strategy. Whilst the State Council is preparing itself for the inevitable decay of the current international monetary system, it has firmly embraced gold in its economy. With a staggering pace the government has developed the Chinese domestic gold market, stimulated private gold accumulation and increased its official gold reserves in order to ensure financial stability and support the internationalisation of the renminbi.
To challenge the US dollar hegemony and increase its power in the global realm of finance, China has a potent gold strategy. Whilst the State Council is preparing itself for the inevitable decay of the current international monetary system, it has firmly embraced gold in its economy. With a staggering pace the government has developed the Chinese domestic gold market, stimulated private gold accumulation and increased its official gold reserves in order to ensure financial stability and support the internationalisation of the renminbi.

“The outbreak of the crisis and its spillover to the entire world reflect the inherent vulnerabilities and systemic risks in the existing international monetary system…. The desirable goal of reforming the international monetary system, therefore, is to create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run…”

Quote from Governor of the PBOC Zhou Xiaochuan 2009.

In the present zeitgeist we find ourselves on the verge of a shift in the global monetary order. The shocks through the financial complex in 2008 that reaffirmed the innate fragility of the US dollar as the world reserve currency have sparked China to become a vocal proponent of de-Americanization, although its end goal is communicated less clearly. Being the second largest economy of the world but relatively in arrears regarding physical gold reserves, China has a strong motive to surreptitiously work on its gold program until completion. For, if it would be candid in its gold ambitions, the price would significantly run higher, potentially disturbing financial markets and narrowing its window of opportunity to prepare for the next phase.
More: http://www.zerohedge.com/news/2016-04-16/china-embraces-gold-advance-post-dollar-era

_________________
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 Apr 17, 2016 9:28 am

Carol

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Post n°825

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Carol Sun Apr 17, 2016 9:28 am

In early 2015, after seeing a staggering $1.4 trillion in Euro area government debt trade at negative interest rates (the number has since grown to $6 trillion) we wondered when the bailout of insolvent governments was going to make its way to other debtors. Our question was quickly answered when we found that a negative rate mortgage had been issued by Nordea Credit, a bank in Denmark. Recently, even the WSJ finally stumbled on this bizarre inversion of traditional borrower obligations.
We noted at the time that this this was the first of many such paradoxes, as eventually more and more banks would begin to fall in line with ECB expectations and lend at slightly negative (at first, then progressively more negative) rates, rather than lose even more money as a result of leaving cash in the ECB deposit facility.
This is just the beginning: according the Danish media outlet, as a result of variable-refinancing, as recently as a week from now "a greater share of customers could have a negative rate."
Earlier this month we got evidence of that when we learned that a bank had issued a negative interest rate on a mortgage in Belgium.
Now, courtesy of news.com, we learn about another bank that is paying customers to take out a mortgage, this time in the Netherlands.
INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 20160416_welcometothenetherlands_0

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1 - Page 33 20160416_welcometothenetherlands_0

As a result of entering into a variable mortgage agreement that was denominated in Swiss Francs, and set at 0.7% above Swiss Libor, Achmea Bank now finds itself having to pay borrowers to take out a mortgage.
There is more to this story however.
It took a court case to force the bank to pay what it owed. As CHF Libor rates plummeted on the heels of the ECB's NIRP policy, instead of paying the borrowers their contractual due, the bank tried to get away with simply telling the borrowers that they didn't owe anything on their interest payment.

In a ruling announced on Monday, the Netherlands’ consumer financial products watchdog, Kifid, said it had sided with the unnamed holders of the variable interest rate mortgage, who brought the case, rather than with lender Achmea NV.

The mortgage was denominated in Swiss francs, with a variable rate set at 0.7 per cent above Swiss Libor, a benchmark rate. When Swiss Libor fell below minus-one per cent in January 2015, the bank should have paid the mortgage holders around 0.3 per cent interest, Kifid said in the ruling.

Financial journalist Alan Kohler had some pointed comments around the policy of NIRP and how it's devolving into ridiculous things such as negative mortgage rates. He rightfully asserts that central banks will look back on this period as a time in which more harm was done than good (as is always the case).
He begins by comparing the central banks' use of NIRP with significant global events that haven't necessarily fared very well, including very creation of the European Union.

"We may well look back ruefully on negative interest rate policy, or NIRP, from our post-apocalyptic dirt-floor humpies as one the greatest idiocies of the 20th and 21st centuries, up there with America’s sack and dump of Iraq in 2003 and 2011, the repeal of the Glass Steagall act and the Maastricht Treaty in Europe," he wrote.

He then goes on to say what we know all too well, which is that whenever the central banks finally take a break from their textbooks and broken excel models, they'll realize that nothing they've done has worked, and that they've caused more damage than otherwise would have been the case.

"Unless a miracle happens and the European and Japanese economic cadavers suddenly sit up and rub their eyes, central banks will eventually have to give up and admit defeat. The hope will be that not too much damage has been inflicted.

He sums it up by pointing out one of the main goals of central banks to begin with, which is of course to take from the savers and distribute elsewhere.

"But that is central banking for you, in the era of leverage: take from the savers and give to the borrowers in the hope that they will ‘do something’.

"Not so far, they’re not … they’re just punting it on real estate."

Meanwhile, we look forward to finding out how many banks are trying to do what Achmea unsuccessfully tried to, i.e., to not pay borrowers what is owed, as variable rate mortgages continue to go negative, and how many ultimately have to comply with the contractual fine print. But the biggest joke will be on the depositors: because while banks will, grudgingly, pay money to those who live on credit, those funds will be provided by savers, as depositors across Europe will soon be forced to pay to keep their money in the bank.
Sadly, such is the upside down world of the "new normal", where savers are punished while those living beyond their means, are rewarded.

http://www.zerohedge.com/news/2016-04-16/first-denmark-then-belgium-now-netherlands-negative-mortgage-rates-spread-across-eur

_________________
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

INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

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Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Apr 13, 2016

Dr. Stephen Jones

Apr 13, 2016

Dr. Stephen Jones

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

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Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

"Shanghai Shock: April 19th, 2016"

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

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Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

FANTASTIC NEWS

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Christine Lagarde speaks on CNBC's Squawk Box 4-14-16

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CHINA SAYS "NO DOLLARS" FOR NEW YUAN

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

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Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

Saudi Arabia Threatens To Liquidate Its Treasury Holdings If Congress Probes Its Role In Sept 11 Attacks

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

China Embraces Gold In Advance Of Post-Dollar Era

Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 1

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