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"Very Telling" - Wed. AM KTFA Thoughts/News 4/11/18

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"Very Telling" - Wed. AM KTFA Thoughts/News 4/11/18

Post  Ssmith on Thu Apr 12, 2018 8:18 am

KTFA

Millie » April 11th, 2018


Frank26 Quote: “CBI HAS SENT NOTICE TO FIRMS/COMPANIES IN IRAQ .................THAT HAVE ATMS ...............THAT THEY R GOING TO NOTIFY THEM OF A 24 HR TIME FRAME ..............WHERE THEY HAVE TO TURN ON THEIR ATM MACHINES.....IMO .......... THIS WILL ENTAIL NOT ONLY THE ATMS ......BUT A SYNCHRONIZATION OF MANY THINGS THAT R READY TO LAUNCH THE RI OF THE DINAR......ALL TO BE EXPOSED INSIDE ............OF A 24 HR PERIOD ................IT IS THAT 24 HR TIME FRAME THAT IMO IS THE ..............CBI DATE TO RI. “

THIS is VERY telling information Family. Thank you Frank!

Pattycakes77 » April 11th, 2018

Yes very telling. Now we just wait for that 24 hr.

Hazen » April 11th, 2018

The elections happen May 12th, Ramadan begins Wednesday, May 15, 2018 and ends Thursday, June 14, 2018. I really hope this is done before the elections!!! Nothing happens during Ramadan......let's go Abadi time to reinstate!!!!

Samson » April 11th, 2018

Việt Nam’s securities market may get ‘emerging status’


11th April, 2018

Việt Nam’s securities market has satisfied MSCI’s quantitative requirements in terms of the market size and liquidity. However, qualitative conditions will be decisive factors for an upgrade.

Việt Nam’s securities market may be upgraded to the emerging market status from its current frontier market by 2020, according to the latest SSI Retail Research.

The local securities market has grown rapidly and reached US$191 billion in total value by the end of March 2018, equivalent to 95 per cent of the GDP (gross domestic product) in 2016 and up 24.7 per cent against 2017.

It’s as large as the securities markets in the United Arab Emirates and the Philippines and even surpasses some emerging markets such as Qatar ($131 billion), Pakistan ($82 billion) and Egypt ($58 billion).

Liquidity also increased sharply to an average of VNĐ8.8 trillion ($386 million) per session in the first quarter, a growth of 80 per cent over the average of 2017.

According to SSI Research, five Vietnamese stocks have satisfied the Morgan Stanley Capital International Inc (MSCI) requirements in terms of market capitalisation, free-float rate and liquidity and can be added to the Emerging Market Indexes in case the local market is upgraded.

SSI estimates that nine other stocks will meet these requirements in future. These shares have a market value of over $2 billion and good liquidity but are yet to reach the level of required free-float rate.

In its 2017 market classification review that was carried out in late June, MSCI did not include Việt Nam in the review list for a potential reclassification to the emerging market status.

Thus, Việt Nam remained in the MSCI Frontier Markets Index.

Essentially, Việt Nam’s securities market has satisfied MSCI’s quantitative requirements in terms of the market size and liquidity. However, qualitative conditions will be decisive factors for an upgrade, not only by MSCI but also by other classification firms, such as FTSE and S&P.

The Government, meanwhile, is doing well in managing macro-economic stability and reinforcing foreign investors’ confidence in the local market. However, the research suggests relaxing the limit of foreign ownership and accelerating the divesting of State capital in State-owned enterprises to further broaden the investment scale for foreign investors.

On the other hand, the foreign exchange market needs to be more flexible to facilitate the flow of foreign capital into the country.

According to SSI Research, Việt Nam can be upgraded to the emerging market status in 2020 by MSCI, but it requires at least one year for MSCI to seek advice from the international investment community and another year for investment firms to prepare for the changes and portfolio restructuring.

MSCI will publish its annual market rating and prepare a list of markets that need to be consulted for the next period in June. LINK

MSG » April 11th, 2018

Iran sets single foreign exchange rate to rescue currency


By Amir Paivar BBC Persian business reporter

10 April 2018

Iran's currency, the rial, lost some 20% against the US dollar in two weeks as Iranians rushed to hedge against depreciation of their assets. Some fear an imminent collapse of the nuclear deal and return of economic sanctions.

"We are sitting idle watching numbers go up. You cannot do business when you start the day with one rate and end with another," Ismail Kazemi, an Iranian coffee importer, said in a phone call from his office in north Tehran.

"Best is to do nothing until the dust settles," he added.

In the foreign exchange market it has been more of a sandstorm for the past few weeks. The Iranian currency, the rial, lost 8% against the dollar in one day this week.

On Monday night the government stepped in, removing the discrepancy between the exchange rate used by traders - 60,000 rials to the dollar - and the official rate - previously 37,000.

The new single rate has been set at 42,000 rials to the dollar.

"We do not recognise any other rate," Iran's first Vice-President Eshaq Jahangiri said on a late television broadcast.

"Anyone trading at any other rate will be considered a smuggler," he added.

The old official rate was costly to the government, and therefore limited to imports of selected goods that were deemed necessary.

Just this week the government said it could no longer offer it to students studying abroad, and they now have to buy foreign currency from the open market to pay for their tuition.

An old dream

With some $50bn (€40bn; £35bn) in oil exports, Iran's government is the main supplier of hard currency to the economy. But there is also an open market of licensed exchange offices and unlicensed street traders.

When it comes to exchange rate, the two have seldom sung from the same hymn sheet.
Iran uses its petro-dollars for virtually all its expenses, from import of basic staples such as wheat to military adventures in Syria.

But there is a cap on how much of its hard currency it can allocate to expenditure considered "luxury", such as Iranians travelling to Thailand for fun, or those who import cosmetics.

This is where the open market comes in - always at a higher price. Unifying the two rates is a 40-year-old dream. But it is not the first time that Iran has tried to force a single rate.

In January 2012, Iran's central bank set the exchange rate of the US dollar at 12,260 rials while the value the rial on the open market was about half that. The so-called unified rate lasted only a few months.

Iran was then accused of pursuing a nuclear weapons programme and the economy was crumbling under international sanctions that limited its oil exports.

"When you set a government-enforced single rate, you have to be able to support it," says an Iranian economist who works with the government and wishes remain anonymous.

"Iran's government did not have infinite coffers of hard currency then and nor does it have now."

Looming fear of sanctions

Iran's trade balance is actually healthy. Besides oil, it also has some $40bn of so-called non-oil exports. The country imports $50bn worth of goods and services every year.

The main problem is bringing the export proceeds back to Iran.

Although most international sanctions were lifted in 2016 following the nuclear deal, there is still no major international bank that will work with Iran.

Iran's tensions with Israel and Saudi Arabia are increasing over Syria and Yemen. And in Washington, there is a president who thinks that the Iran nuclear deal has "disastrous faults".

President Donald Trump has asked Europeans to either fix the deal or see the US leave the accord next month. If the deal collapses, unilateral US sanctions against Iran's energy and banking sectors could return.

That is why Iranians have a hunger for hard currency. There are even reports of capital flight with some Iranians buying assets in neighbouring countries, fearing a military confrontation with Saudi Arabia, Israel or the US.

And that is why the government is cautious in spending its money.

It is not clear if the Iranian government will gamble by opening the floodgates of its reserves at the new so-called unified rate, or if it will again be limited to select groups of buyers like students and businesspeople.

"At the end of the day, it's about who you know," Mr Kazemi, the Iranian coffee importer says.

"We know some people in the right places."

http://www.bbc.com/news/world-middle-east-43715971
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