Post a reply 1 post • Page 1 of 1 FRANK > Frank CC 6/20/11 Part 1 sunbeam Member Posts: 125 by peter3 » Mon Jun 20, 2011 9:43 pm FRANK > Frank CC 6/20/11 Part 1 sunbeam Member Posts: 125 6-20-11 Frank’s Monday Night Intel Frank & Dodd – This law has

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FRANK > Frank CC 6/20/11 Part 1 sunbeam Member Posts: 125
by peter3 » Mon Jun 20, 2011 9:43 pm

FRANK > Frank CC 6/20/11 Part 1

sunbeam
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Posts: 125
6-20-11 Frank’s Monday Night Intel
Frank & Dodd – This law has nothing to do with the Iraq Dinar – This is not something that will effect us its transparency and help with all the Cr _ _ ks says Darline, to not be able to trade “ahead” of the rest of normal people. This way is not taking possession as its leveraging and they use this form to make up for losses or endure losses.
If this happens by June 30th more lower denoms could be bought.
Another currency could spike and use gold and silver again and they desire that to not do it again but use the American Dollar.
There is a logical reason but not involved with the change of the IQD but the logical connection with the logic of currency…Watch what they are doing with gold and silver family – this weekend’s reports was a preliminary to what the law actually is its over 1000 pages long… and then it will be changed as out President has not signed certain bills that indirectly effect our exchange…this is still being modified and changed and Darline said the put this off another six months the final reading of it…
Please sign the legislation that’s in front of your RIGHT NOW and listen to the Authors of the Plan and sign those papers now Mr. President – This was meant to pay the war and the budget and the deficit – please do not hold up and don’t do what you are planning in doing and you can’t spread the wealth and use it OUSTIDE the war or the budget…
Gold and Silver would have been one of the way to diversify my blessing – why take it from us - they want them to stop being crooks and I say they want them to use the American Dollar…This is not good we are being told what to do with gold and silver its one of our rights and privilege as it’s the universal currency. Our Gov can’t tell us to not use this to trade with – they are taking away the gold from us at this time when we are about to have an amazing tax windfall for you. You want us to pay the taxes right Mr. Pres.
CFTC Delays Swaps Regulation By Another 6 Months To Comply With Wall Street Demands
Submitted by Tyler Durden on 06/14/2011 11:40 -0400
One year after the passage of Dodd-Frank's provisions on swap regulation absolutely nothing has been implemented. And judging by the just announced yet another 6 month delay of rule implementation, it now appears pretty much certain that the $600 billion derivatives market will never be actually regulated, courtesy of conflicted interests at the CFTC. "The U.S. Commodity Futures Trading Commission proposed delaying rules for the huge derivatives market that had been automatically set to go into effect on July 16. One year after the passage of the Dodd-Frank financial overhaul that ordered a crack-down on the $600 trillion derivatives market, regulators have not been able to meet the deadline for translating the legislation into specific provisions. That prompted the CFTC on Tuesday to propose delaying some of the so-called "self-executing" rules until as late as the end of the year." After all, it is the CFTC's sworn duty to do anything to help the poor OTC traders who may experience a modest drop to their multi-million year end bonuses if profit margins are cut into by regulatory intervention: "Traders had feared that billions of dollars in transactions might suddenly fall into legal limbo. Without relief from the CFTC, a delay could have caused those contracts to lose the legal protection afforded them by a clause in the Commodity Futures Modernization Act of 2000 that created a framework that stated they were not illegal off-exchange futures." But lest someone suspect the fine upstanding gentlemen at the CFTC led by former Goldman Sachs employee Gary Gensler who has absolutely no interest in seeing his old firm continue along the confines of the status quo (very much like that other form Goldmanite Hank Paulson), the CFTC did provide this brilliant clarification: "The temporary relief proposals have "nothing to do with any outside pressure one way or the other to extend the rule-making or the effective date," a CFTC staff member said." Well, if they say so, it must be true.
More on why absolutely nothing will ever change until the next blow up which since it is backstopped by every central bank in the world, will be the very last one. From Reuters:
Those granted temporary relief from the new guidelines include transactions in exempt or excluded markets -- primarily in financial, energy and metals -- as well as measures that do not require rule-making but refer to terms such as swap, swap dealer or major swap participants that must be further defined by regulators.
"The exemptive relief that's being granted by the Commission would allow virtually all the same types of transactions conducted now to continue during this period," a CFTC staff member told reporters ahead of an agency meeting.
The relief measures became necessary after the CFTC said it would miss the July 16 deadline to write regulations for the over-the-counter derivatives market.
The delay risked a legal void for trades that would be caught between the current regulatory framework, which ends next month, and and not yet offered protection under as-yet unfinished new rules.
Mutually Assured Destruction is here again:
Without some type of short-term fix until the new rules are in effect, Wall Street investors worried the market would be thrown into chaos, casting doubt on the legality of derivatives trading and stoking fears of dried-up liquidity and an exodus to offshore trading.
The exemptions, which are open to a 14-day public comment, would last through Dec. 31, unless the rules go into effect first. The temporary relief would not apply to measures already in effect, or on futures contracts, options on futures, or transactions by retail customers in foreign currency or other commodities.
We are happy to bet any amount of single ply toilet dollars that come December 31, absolutely nothing will change, and the CFTC will indicate that traders are horrified of the market destruction that would ensue should a 2 year old law (at that point) be finally enforced:
"Six months will provide the Commission with the opportunity to re-examine the status of final rule making in light of the changed regulatory landscape at the time," said CFTC Chairman Gary Gensler at the agency's meeting on Tuesday.
The CFTC said the proposals "provide the needed clarity for market participants" and should address any legal concerns for swaps beginning on July 16. Still, some industry watchers questioned whether the CFTC has enough legal power to propose these measures.
And with Republican now at the helm, expect deregulation (even with regulation effectively at zero as is), to become the name of the game:
The first comprehensive U.S. regulation of the swaps market is on track to be implemented this year, but Republican lawmakers have introduced legislation to slow down the process.
The temporary relief proposals have "nothing to do with any outside pressure one way or the other to extend the rule-making or the effective date," a CFTC staff member said.
And the punchline is that Wall Street which ultimately pushed so hard for this first of many delays, now blames the CFTC:
Wall Street banks and major market players have said they are equipped to comply with derivatives reforms, but accused U.S. regulators of dragging their feet on clarifying how and when they will go into effect.
In other news, let the rape and pillage of the global middle class continue. After all, that is the status quo.
http://www.zerohedge.com/article/cftc-d ... to+zero%29
http://www.occ.treas.gov/news-issuances ... r22633.pdf
Frank states its lacking info in these articles and what folks are saying anyway.
This law will Stop dream trading in foreign currency exchange and Frank says he does not believe it will affect our currency exchange at all but I feel that it may indirectly effective Lower Denoms…meaning those who have gold and silver can’t buy lower denoms…
Andy Webber & George called various senators today to discuss this Report and we discovered – The senators are confused over the Frank-Dodd report – its over 6,000 pages long and the explanation report is - most folks at first were ignorant of this information and were evading talking to us about this report as they don’t understand it completely. One person explained the FCC and CFTC has to make the rules to govern places that are able to buy and sell Dinar and they make decisions – after the 15th of July governed by the FCC they will not be able to buy and sell dinars and she feels that they won’t wait that long. The main worry is will we be able to cash in our dinars –as long as its currency to currency we can trade but not for currency to precious metals. He also stated that the constitution is not meaning much anymore… and she stated its only to stop the short sales of the precious metals and take possession wit in 28 days Senator Pat Tooney’s office stated this information. The stand alone futures commission of merchants, you will be able to buy and sell this way and if Ali is sanctioned by this I am not sure – and Senator Pat Tooney’s Rep feels by the 15th of July the FCC will have their rules made and the people will be able to buy and sell dinars.
And again - Frank says he does not believe it will affect our currency exchange at all but I feel that it may indirectly effective Lower Denoms…meaning those who have gold and silver can’t buy lower denoms…
Andy states that being self employed for many years and the economy is tougher now and it would be real easy for us to sit back to say the dinars are coming and not do anything and sometimes the money is not there - We pray and GOD is our supplier and he will take care of us and he will not let us down…
DFI Fund – says Frank Iraq in Nov Dec started a campaign letting the authors know they wanted it extended – and then in Jan they asked again – the UNSC said NO grow up – the funds are now in NY we GOT YOU and are in control. In fact says Darline, Maliki wanted the funds in April to get two accounts and the food for oil by May 1st and they did get it and 1st of June they transferred the $$ from the UN to two US Banks.
The DFI was extended “OUR” way till June 30th 2011 PERIOD. They wanted 2012 but it was not approved…DFI money is protected no one can sue them. And having the money here in the US dose the same thing. Frank says it was extended “our way” Frank says there is not a time frame – phases and a plan that does end on June 30th – accomplishments to the currency plan had to be accomplished and they did it all - THERE IS NO TIME NO CLOCK NO STOP WATCH and no one cares that anyone is impatient about revaluing this currency and they are doing the phases of the currency one,
June 20, 2011 at 10:40 PM Flag Quote & Reply

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