News, Rumors and Opinions Saturday 8-8-2020
TNT:
Bita: I listen to a non currency call that the Banks of England and Ireland are temporary closed. Hmmmmm I wonder why?
Clotheshorse: things that make you go hmmmm!
Bita: ClothesHorse, I wonder why? Hoping getting ready for the GCR. It has started
Ulued: The whole world waits for GCR...tic ..tic..tic..tic tok
Yada: ulued, it is becoming more clear how the "GCR" will take effect. Even though all countries are not equipped to just change their currencies, they will be able to trade their currencies with the dinar on the forex, hence, their values will grow. The past 10 days or so, the sharks and whales have been trading with Iraq and Iraq has used their currency so they will have greater reserves as well as the other country's reserves increase because of the dinar.
Cyndisaintsfan: Frank doesn't believe in 800 #s
Yada: Regardless, and the main thing is the main thing, Franks believes the rate is released.
Bita: yada the GCR has started it is a sloooow roll out heard that also
Clotheshorse: I wish for this GCR to step on the gas!!!!! LOL Slow roll is for the birds!
DrBob: Business week starts Sunday in Iraq….. Tonight could be very interesting
JCNC: Want to learn about Ancient Chinese Bonds? Check this article out.
$1.6T in century-old Chinese bonds offer Trump unique leverage against Beijing
'Americans pay their debts. China needs to do the same'
Published May 14
As the Trump administration seeks ways to penalize China for its handling of the COVID-19 pandemic, it need look no further than Tennessee.
The Lewisburg, Tennessee-based American Bondholder Foundation holds $1.6 trillion of century-old Chinese debt, including interest, dating to before the founding of the communist People’s Republic of China, that it wants the administration's help in redeeming. There is an estimated $6 trillion or more of the debt outstanding worldwide.
The bonds were issued by the Republic of China -- which ousted the imperial government in a coup -- as far back as 1912 and backed by gold; they were defaulted on in 1938. The ROC government fled to Taiwan, where it remains the official ruling body, after Mao Zedong’s communist party took over following the 1949 end of the revolution.
Beijing maintains Taiwan is part of China, and under international law, successor governments are responsible for the debts of their predecessors.
President Trump is a “'promises made, promises kept' president, and he said to my face that he was going to do this transaction, do this deal, and hold China accountable,” Jonna Bianco, president and chairwoman of the American Bondholder Foundation, told FOX Business.
Bianco, who has power of attorney for 95 percent of the thousands of U.S. bondholders, said making China repay its debt would “not be punishment,” but rather a basic fundamental of international finance.
Read full article here: https://www.foxbusiness.com/markets/historic-chinese-bonds-trump-leverage-beijing
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KTFA:
Toyvp: Trump advisor: Economic growth could very well skyrocket 20% later this year
BRIAN SOZZI
Aug 7th 2020 5:32PM
Long-time Wall Street economist Joseph LaVorgna thinks the U.S. economy’s recovery from the depths of the COVID-19 pandemic could shock some people later this year.
“The economy looks great,” LaVorgna — now serving as a special advisor to President Trump and chief economist of the NEC after stints at Deutsche Bank and Natixis — told Yahoo Finance’s The First Trade. “We’re looking at GDP this quarter of 20%,” LaVorgna said, adding GDP growth of 20% in the second half of 2020 is “doable.”
Second quarter GDP crashed 32.9%, the worst on record, as the economy was crippled by the COVID-19 pandemic. Suffice it to say, LaVorgna’s GDP forecast is on the aggressive side in light of the second quarter’s challenges. States continue to grapple with fresh COVID-related business closures and businesses are pushing off the return to offices until 2021.
But, LaVorgna points to the July jobs report as a reason for optimism. Payrolls came in better than Wall Street estimates, as did the unemployment rate.
Change in non-farm payrolls: +1.783 million vs. +1.48 million expected and +4.791 million in June
Unemployment rate: 10.2% vs. 10.6% expected and 11.1% in June
Average hourly earnings, month over month: +0.2% vs. -0.5% expected and -1.3% in June
Average hourly earnings, year over year: +4.8% vs. +4.2% expected and +4.9% in June
Revisions: The change in total non-farm payrolls for June was revised down slightly by 9,000 to 4.791 million, while May’s payrolls were revised up by 26,000 to 2.725 million.
“I’ll take this report over anything. It’s a positive number,” said S&P Global Chief economist Beth Ann Bovino.
Even still, stocks fell slightly by afternoon trading Friday after an initial positive response following the release of the jobs report. Strategists told Yahoo Finance there were several red flags in the report, including elevated levels of people quantified as permanent job losers and a slowdown from June jobs growth (4.8 million jobs created).
“I worry the economy has been scarred,” chief economist and head of macro strategy at Manulife Investment Management Frances Donald told Yahoo Finance.
Samson: Al-Kazemi Directed Members Of His Government To Disclose Their Financial Receivables For The Year 2020
8th August, 2020
On behalf of the Office of the General Secretariat of the Council of Ministers, Haider Majid announced the Prime Minister’s request to the Council members to disclose their financial assets.
Majeed said in a statement that Al-Mustaqilla received a copy of it on Friday night (August 8, 2020), "The Prime Minister directed that cabinet members fill out the financial disclosure form for the year 2020."
He added that "the directive issued during the eighteenth session on August 4, stipulated filling in the aforementioned form and sending it to the Integrity Commission as soon as possible."
He continued, "The directive is based on the Integrity Commission (Graft) Law No. (30) for the year 2011 as amended, as the first clause of Article (16) stipulates that everyone who occupies one of the jobs or positions on their own or an agency is obligated to submit a declaration of His financial disclosure.”
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Courtesy of Dinar Guru
Jeff ...Iraq is not gonna stay pegged just to the dollar after the rate change. That is too unstable...as of November 2017...they un-pegged from the dollar and re-pegged to a currency assortment basket...that means the rate is going to be greater than a dollar. I'm not giving you a rate I'm just telling you greater than a dollar...they are pegged to a secret basket. It's the highest valued basket in the world...
Bruce [via WiserNow] This is getting down to the wire – we’ve got a little bit of intel...it’s been very very quiet today... I’m going to say – don’t write off this weekend - we heard last week it could be a weekend event -I think it’s possible but not absolute that we get something moving for us over this weekend...
Currency365:
PM Kadhimi & President Trump Face to Face Aug 20th
Aug 8, 2020