backdoc » September 8th, 2014, 2:22 pm
AS WE WATCH HISTORY MADE TODAY WE SEE AS I'VE SAID IN THE PAST, THE DOLLAR WILL BECOME VERY STRONG !
ALL COMMODITIES WILL BE UNDER PRESSURE AS THE DOLLAR RISES ! GOLD JUST DROPPED TO ITS' LOWEST LEVELS SINCE JUNE !
ONCE THIS IS COMPLETE I AWAIT THE EQUITY MARKET TO REALIZE A RISING DOLLAR INDICATES AN OVERVALUED STOCK MARKET.
THIS IS OF COURSE THE OPPOSITE OF WHAT WE HAVE SEEN UNDER THE QE "QUANTITATIVE EASING"!
IT APPEARS OBAMA WILL BE MAKING A SPEECH ON HIS PLAN FOR ISIS ON WED. THE 10TH !! IF THE BUDGET GETS PASSED BEFORE THEN OR ANNOUNCEMENTS OF IRAQS SUCCESS, THIS COULD BE A MARKET MOVER ? WE SHALL SEE !!
backdoc » September 8th, 2014
AMAZING WHAT A CHANGE IN VALUE CAN DO !! SHOW US !!!
(See Article Below)
walkongstick:Net: three trillion dinars to increase the salaries of employees
September 8, 2014 13:47
Confirmed the purity of net debt and the Minister of Finance Agency allocation of 3 trillion dinars in the 2014 budget to cover the differences increase salaries for state employees and denied the existence of a deficit in the budget of 2014.
He said, that "these funds will be disbursed before the end of this year UUC impact retroactive effect from 1.1.2014 after approving the budget during the next few days."
He stressed that "the government is keen to fulfill its obligations towards this segment of social mission and improve their material to suit the needs of the market," noting that "the citizen will get all his rights in the pending state and it is keen to disbursed as soon as possible.
Net denied the existence of a deficit in the state budget for the current year, "confirming the existence of financial abundance.
backdoc » September 8th, 2014, A CURRENCY SWAP WILL ACT AS A BAIL OUT FOR A COUNTRY THAT REFUSES TO SUBMIT TO THE EMPIRES BANKING WORLD!!
(See Article Below)
THIS IS WHY I LIKE THE DONG IN ADDITION TO THE DINAR.
THE DONG IS A WAY TO PLAY THE SHIFT FROM WEST TO EAST AND ESSENTIALLY TAKES THE OPPOSITE SIDE OF THE TRADE !!
Argentina says discusses mechanism of currency swap with China
BUENOS AIRES Mon Sep 8, 2014 1:25am BST
(Reuters) - Argentina's central bank chief, Juan Carlos Fabrega, met his Chinese counterpart on Sunday to discuss how a currency swap worth billions of dollars will be put into action, the Argentine monetary authority said.
The swap will allow Argentina to bolster its foreign reserves or pay for Chinese imports with the yuan currency at a time weak export revenues and an ailing currency have put the Latin American nation's foreign reserves under intense pressure.
The South American country's La Nacion newspaper reported that the Buenos Aires government would receive a first tranche of yuan worth $1 billion before the end of the year, without saying how it obtained the information.
It would be part of a loan worth a total $11 billion signed by Argentina's President Cristina Fernandez and her Chinese counterpart in July, shortly before the Latin American nation defaulted on its debt for a second time in 12 years.
In its statement, the Central Bank of the Republic of Argentina made no reference to the timetable.
Argentina's latest default came after a U.S. court blocked a coupon payment to holders of its performing debt because of a legal fight with U.S. investment funds who rejected the bond swaps that followed the country's record 2002 default.
"During the meeting, the head of the People's Bank of China conveyed to Fabrega his country's support to Argentina in its dispute with bondholders in a New York Court," Argentina's central bank said in a statement.
Fernandez's government has imposed stringent import and capital controls to safeguard the dwindling reserves, now at around eight-year lows, which it needs to pay its debts.