http://www.dinarrecaps.com/our-blog/more-news-rumors-and-opinions-late-sunday-afternoon-11-15-15
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Stage3alpha:
EXOGEN: THE SEPTILLION OR MORE OF OVER PRINTED IQD CIRCULATING GLOBALLY WAS PART OF THE GLOBAL FIX CHINA AND THE AIIB BANK WERE WORKING ON WITH THE IMF THIS WAS ALSO PART OF CHINAS ADDITIONAL LEVERAGE TO BE ADDED AS RESERVE CURRENCY AND SDR BASKET IN CONCLUSION THIS ALSO HELPS SMALLER COUNTRIES WITH OIL CREDITS AND MUCH MUCH MORE
Finnick: That’s the Jester line. You are the second one saying the same thing. He’s also stubbornly still saying September of 2016. I think he’s dead wrong for once. I don’t see this passing January of 2016 at the latest.
EXOGEN: SEPTEMBER 2015 WAS DATE PUT OUT IN AUGUST *************** ElleR: China secures Zimbabwean resources. 11/12/2015 ************** In the name of God I have decent people.. I wish to extend to you at this historic moment, moments of reform and combating terrorism, triumphs generated by our officer in the front and the restoration of the dignity of the state, to assure: we started our approaches for reform of our conviction Well-established that the comprehensive reform and radical and at the base of the state of the national civil state institutions is a way of stability and development and reconstruction, justice and the restoration of the structure of the state of his health association, the forces of evil, terrorism, corruption, those forces That has been reluctant and hindered the functions of the reform of being hit in the heart of its own, privileges, most notably the quota system and structure of corruption which two of the body of the United State. ************************************* KTFA: EHankins: Frank…TODAY I REALIZED THAT IF YOU PUT IT OUT THERE…THEN IT MUST BE OK TO THROW AN IMO. SO….HERE’S MY OPINION…IT CAN BE OMITTED IF NECESSARY WITH NO OFFENCE. WE KNOW THE EAGLE LANDED AND IYO PASSED OUT TO THE APPROPRIATE HOMES.IF THE LD’S ARE OUT THERE IN THE BANKS THEN THEY ARE NOT GOING TO HAVE THEM OUT THERE JUST GATHERING DUST AND POTENTIAL THEFT… THIS TELLS ME IMO #4 IS DONE AND YOU WOULDN’T JUST TALK ABOUT IT ANYMORE..YOU ARE GOING TO “SHOW US #4” THEN AS OF WITHIN 3 WE WILL TAKE OUR FIRST WALK ON THE SURFACE OF THIS NEW TERRA FIRMA..TO ME THIS SAYS, WE WILL WALK FOR THE “FIRST TIME ON A NEW EARTH..SOLID EARTH..AS IF TO SAY A BRAND NEW WORLD…EVERYTHING WILL BE DIFFERENT..EVEN A NEW BRAIN CHEMISTRY. I ADMIT THE “AS OF WITHIN 3,” THREW ME BECAUSE YOUR RESPONSE TO A POST WAS YOU SAID YOU DIDN’T SAY DAYS…BUT PERHAPS YOUR’E SAYING MONDAY WE WILL SEE IT. THINGS ARE MOVING AT WARP SPEED OF LIGHT…HARD TO CHALLENGE THAT…. MONDAY CC WE WILL “SHOW YOU #4..NOT TALK ABOUT IT BUT SHOW US # 4…SHABIBIS LIFTING THE RATE AND THE NUMBER WE SEEK THEN WERE GOING TO HAVE EMERGENCY CC BUT STAFF IS AWARE ALREADY SO MONDAY A CC THE REFORM IS IN FRONT OF OUR EYES…IF THE REFORM IS DONE AND CONGEALING AND WEBBING THROUGH OUT THEN EVERYTHING IS COMPLETE…EVERYTHING! NOW NOW NOW THE CHINA SYNDROME “IN EFFECT” CHINA SYNDROME …CHINA SAID I THINK IN THE 80’s,WE WON’T RV OUR CURRENCY AND EVERYONE WAS BUMMED OUT BUT….THE VERY NEXT DAY … IT DID…….IF IT IS NOW NOW NOW A CHINA SYDROME THEN THERE’S NOTHING TO WAIT UPON ANYMORE EXCEPT TO HEAR THE FINAL NUMBERS ON MONDAYS CC…. THEN YOU SAID YOU HAVE TO GO AND SIT AND ….BE…..STILL…I TOOK THIS AS YOU SAYING YOU MUST BE SILENT AS IN BEING STILL..I DARE NOT SAY MORE…COOL. NOW I COULD BE WAY OFF BUT THIS IS WHAT MY MIND PUT TOGETHER FROM THE PIECES OF OF HISTORY FROM THE PAST MONTHS OF OUR CCS..TO SAY THE LEAST I’M DANCING WITH CONTROLLED EXCITEMENT..GROUNDED. ************ Toyvp: Another source confirmation Walkingstick: IMF: 2016 budget will be adjusted in line with our software 1/15/2015 (00:01 pm) – BAGHDAD / Zahraa Hamid The International Monetary Fund, on Saturday, the head of the Iraqi government, Haider al-Abadi, will adjust next 2016 budget in line with the macroeconomic framework of the program watched by the fund, while between that of the most important of those reforms to approve the draft financial management law and the completion of a survey of local arrears accumulated on the government, and compile a list of bank accounts under its control, and the appointment of auditors of international financial data for Bmsrvi Rafidain and Rasheed,showed lack of support for the devaluation of the dinar. The head of the IMF mission for Iraq, Christian Jusz, in response to questions from reporter (range Press), “The program, which is monitored by IMF staff pillar is financial framework for Iraq to the end of next 2016,” noting that “the Iraqi prime minister, Haydar al-Abadi , amendments will be on the next 2016 budget year and submit it to the House of Representatives in line with the framework of the agreed macroeconomic Under the program, which is watched by IMF experts. “He added Jusz, that” the program is watched Fund, requires the Iraqi government’s commitment to reforms affecting public financial management of the country, and banking supervision During the remainder of the current 2015 until next 2016, “noting that” the most important that the approval of the draft Administrative Law of Finance, which was sent to the State Council reforms, about in line with the comments of the World Bank and the International Monetary Fund. “The President of the Fund mission International Monetary Iraq, that of “other reforms to complete a survey of local arrears accumulated on the Iraqi government, and compile a list of all Government-controlled bank accounts with the Central Bank of Iraq, and government and private banks,” pointing out that “the reforms also include the appointment of auditors accounts of international scrutiny of financial statements Private Bmsrvi Rafidain and Rasheed. “and whether the International Monetary Fund, was happy with the monetary policy in Iraq, despite the many upon the criticism, said Jusz, that” the Fund shall provide technical assistance to the Iraqi authorities for the implementation of policies related to foreign currency and the removal of restrictions on him. “And on the Fund’s position reduction of the Iraqi currency value, The head of mission for Iraq, that “the IMF does not support it, because the exchange rate provides a nominal pillar President in an unstable environment to a large extent,having weakened policy capability because of the conflict with Daash.” In the axis respect to the effects of what detection head the Parliamentary Finance Committee, the late Ahmad Chalabi, and published (range), Jusz said, “The Fund talks with the Iraqi side, did not address those files,” adding, “but within the program that pursued by the fund, the Iraqi government will impose fines and penalties management of banks, non-bank financial institutions that provisions and laws do not apply. “The Central Bank of Iraq, announced on Thursday (the 12th of November the current 2015), for the imposition of fines close to 400 billion dinars to 40 banks, noting that impose a variety of sanctions on 426 financial institution is a bank, for manipulation auction currency or provide documents is fundamentalism, and the imposition of trusteeship on the four banks, one to the extent of the filter, while has the rehabilitation of two other banks, as well as the imposition of multiple fines close to five billion dinars related to other banking irregularities . and the International Monetary Fund, a specialized agency of the Bretton Woods system of the United Nations, was established under an international treaty in 1945, to work on enhancing the safety of the global economy, and is located Fund headquarters in Washington, DC, and managed by its members who include all the countries of the world about their number of 188 countries. http://www.almadapaper.net/ar/news/4991 … 9%85%D8%B9 *********** Thunderhawk: IMF recommendations included in SDR Chinese renminbi bond market is expected to expand 2015-11-16 02:00:18 Easy iBusiness http://www.ieforex.com As of press time premium of RMB 967.080 yen exchange rate sterling exchange rate € 5.164 621.180 $ 758.620 Rates IMF Executive Board is scheduled for November 30 to assess whether the inclusion of the RMB SDR currency basket. If approved, the yuan will be in 2016 since September become after pound, euro, yen and dollar SDR component currency fifth. RMB as a reserve currency, China will have a larger bond market capacity and better risk-return characteristics, the proportion of international investors to enhance the RMB bond market, bond market capacity will increase. International Monetary Fund (IMF) once again expressed China’s accession to the SDR (SDR) are optimistic, many organizations believe that the current round to join the probability is high, yuan-denominated bond market will reach expansion. IMF Director-General expressed support IMF Director General Christine Lagarde said on Friday agreed to RMB IMF proposed to achieve “freely usable currencies” to standards, recommendations included in the SDR conclusions. IMF job report also showed that Chinese authorities have solved all the problems IMF staff analysis report submitted in August this year, it noted in operational aspects. The central bank website news release quoted the official said Saturday, the yuan was added to help enhance the representativeness and attractiveness SDR SDR, improve the existing international monetary system, the Chinese and the world is a win-win result, China hopes that the parties to support the yuan to join SDR. It is understood, SDR worth only $ 280 billion, four additional currency is the pound sterling, the euro, the yen and the dollar, in 2010, the proportion of four currencies was $ 41.9%, 37.4% euro, sterling and the yen 9.4% 11.3% . IMF Executive Board is scheduled on November 30 to assess whether the inclusion of the RMB SDR currency basket. If approved, the yuan will become the fifth SDR component currency since September 2016. China Merchants Securities (600,999, stock it) researcher Song Lin believes that both China and the IMF will work to incorporate the assessment in the renminbi round SDR. For China, the yuan join IMF SDR means that the national currency is recognized as the world’s reserve currency, the renminbi internationalization process is a very important step. RMB assets consequent improvements in terms of credit rating overseas Chinese enterprises will help reduce financing costs. Song Lin believes the yuan at the end of a greater probability of being included in the SDR. Many well-known overseas investment bank also said higher probability added. Gao Hua Securities Research report shows that the yuan included in SDR optimistic view, in recent weeks a clearer view of the market tends to predict the yuan will be included, to approve the signal Europe (especially Britain) senior leaders issued particularly strong. However, Gao Hua Securities also believes that although the yuan is allowed to directly incorporate SDR is the most likely outcome, but it may also be some additional pre-conditional requirements were included. Moore was too large economic group also released a report that, in view of efforts by the Chinese government in recent months, such as addressing the further opening IMF8月份报告中提到的操作层面的问题, financial reform and capital projects, IMF board of directors is likely to 11 month RMB join with favor. Chinese bond market is expected to expand capacity With the addition of SDR is expected to strengthen the yuan-denominated bond products began to receive international attention from investors. Haitong Securities (600837, stock it) analyst Jiang Chao said the medium and long term, adding SDR will increase demand foreign exchange reserve management agency and sovereign wealth funds on the yuan. If the yuan to become a reserve currency, China will have a larger bond market capacity and better risk-return characteristics, the proportion of international investors to enhance the RMB bond market, bond market capacity will increase. AXA Investment said that after joining SDR, a large number of capital will flow into China, to China’s foreign exchange market, money market and bond market impact. AXA estimates, the next five years, the national, official and private investors to invest in China’s capital could reach $ 600 billion, and much of the money will be invested RMB fixed income products, especially Chinese government and policy bank bonds issued by highly rated . Emailed to Recaps:
Martha: Yuan Set to Join IMF Basket in Step Toward Currency Big Leagues – Bloomberg Business Read this very carefully but it is a formality to vote on the inclusion on Nov 30th meeting. The IMF is saying it is a DONE DEAL .The date of this article says it all! Think of it this way. China is in control of world finances, no if ands or butts. The IMF, which has been controlled by US is being satellited into 5 regions and Christine Lagarde is going to Shanghai then I would say it’s a no Brainer at this point. We know that the basket is in motion with the Rembindi in play. Also second basket is without USD and then the yuan may be a reserve currency. I believe that the 2nd basket will be only a month apart but only a guess . **************************** Dinar Updates: Poppy3 RV IS MOVING ALONG AND THINGS ARE VERY PROMISING. THE DONG IS ALSO BEING DISCUSSED DAILY THAT THEY NEED TO INCREASE THE VALUE SO ALL NEWS IN GOOD. NOTHING STATUS QUO. **************************** TNT: Harambe: What’s Next for the Yuan After Joining the IMF’s Currency Club?http://bloom.bg/1WTXrj1 Elmerf123456: You truly KNOW more than most and far sooner than they will hear it!!! In the next few days and weeks, there WILL be “experts” coming out of the woodwork pontificating about things that they know absolutely NOTHING about! Their job is to convince the public that they are NOT seeing what they’re seeing, i.e. confusion. DO NOT BITE!! This is part of their agenda. You ALREADY KNOW the truth!!!! Elmerf123456: Two of my favorite quote of all time by W Clement Stone: If there is nothing to lose by trying but a great deal to gain if successful by all means try ! and. Control your emotions and ordain your destiny ! Both apply in our case I think ! Elmerf123456: Yes this has been a very long journey for many of us in here but I wouldn’t be willing to bet that once this happens all that pain and mental anguish will disappear in a nano second ! daz : WHAT’S IN YOUR KNOWER? IF YOU HAVE DONE THE HOMEWORK YOU EITHER BELIEVE THE REALITY OF THIS ADVENTURE OR YOU DONT. IF YOU DO, THE TIMING IS IRRELEVANT IN THE BIG PICTURE..THE INEVITABILITY IS THE RATIONALE AND REWARD IMO….JUST HAVE BURN YOUR CALENDAR AND RIDE IT OUT |
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Post From Wealthwatch.world Chat Room 11-14-15
New With Links & Discussion Wealthwatch Late Night OOTW & Member Chat 11-14-15 chattels: Is Congress paving the way for a Christian safe zone in Iraq? Can the US Congress help save Middle East Christians from extinction? Read more: http://www.al-monitor.com/pulse/… BOBBY: Interesting week to say the least TxBrand: ‹@BOBBY› for sure and very confusing BOBBY: TxBrand…. evening…… its par for the course lol TxBrand: 🙂 OOTW: Iran signs deal doubling gas exports to Iraq Join our daily free Newsletter MENAFN – The Peninsula – 13/11/2015 No. of Ratings : 0 Add to Mixx! E-Mail Article Printer-Friendly Translate Share Article Text Size The Peninsula (MENAFN – The Peninsula) Tehran:Iran will double gas exports to neighbouring ally Iraq from 2017 under a contract signed on Wednesday.
The deal to send 20 to 35 million cubic metres of gas per day to the southern Iraqi city of Basra follows a first major contract between the countries in 2013 to export gas to the Iraqi capital Baghdad. “The gas export will begin in a year and a half with new pipelines and facilities” Iran’s Deputy Oil Minister Hamid Reza Araghi said before signing the contract with Iraq’s deputy energy minister. The contract is for six years he added without mentioning its total value. “The pricing will be similar to that of the Baghdad contract” Araghi said. Local media had earlier reported that the Baghdad contract to export 25 million cubic metres of gas a day was worth 3.7 billion (3.4 billion euros) a year. Iran sits on the world’s second largest natural gas reserves and produces some 600 million cubic metres a day almost all of which is consumed domestically due to lack of exports means. Shiite powerhouse Iran and Iraq which fought a war in the 1980s have become close allies since the 2003 fall of Saddam Hussein and the rise to power of a Shiite-dominated government in Baghdad. AFP TxBrand: to Iraq ? TxBrand: why would Iraq need Irans Oil ? : what am I missing lol natural gas ? : duh me TxBrand: <—— :ermm: BOBBY: TxBrand…….. valid question TxBrand: ‹@BOBBY› 🙂 OOTW: it’s natural gas exports txbrand TxBrand: yeah I figured it out after making a fool out of myself lol BOBBY: TX Brand. …. you were not the only one wondering lol \ TxBrand: Hundreds Upon Hundreds Of Muslims In Germany Are Rejecting Islam And Converting To Christianity shoebat.com/2015/11/12/hu… OOTW: wow BOBBY: I believe Ann Coulter s statement is reaching a bit…… http://www.forbes.com/sites/insertcoin/2015/11/14/why-the-paris-isis-terrorists-used-ps4-to-plan-attacks/?utm_campaign=yahootix&partner=yahootix chattels: ” XXXX ” : THE UN SECURITY COUNCIL HAS APPROVED THE REFORMS GIVEN TO THEM A FEW DAYS AGO — THIS IS THE LAST OF THE REFORM ACTIVATION — THE ECONOMIC IS THE LAST ONE ACCORDING TO ALL THE INK I HAVE. chattels: ” THIS IS THE LAST OF THE REFORM ACTIVATION — THE ECONOMIC IS THE LAST ONE ACCORDING TO ALL THE INK I HAVE.” Chattels: Abadi announce a new package of reforms soon Baghdad-Iraq-Presse -13 in November announced Prime Minister Haider al-Abadi, its intention to launch new reforms soon, pointing out that there are those who try to obstruct the reform process in the country. He Abadi, in a statement issued Thursday night, confident successfully the new reforms, pledging to “continue reforms despite the difficulties, to build a state of institutions that can fight corruption and address the problems taking place in Iraq in economic terms.” dinaralert.webs.com/apps/. (chattels) http://dinaralert.webs.com/ TxBrand: ok that scared me lol chattels: OOps, more ink about reforms chattels: http://www.iraqpressagency.com/ http://www.iraqpressagency.com/?p=168573&lang=ar chattels: Monday .. second reading of the budget in 2016 By Mohammed Emad 12/11/2015 11:12 Brother – Baghdad The parliamentary finance committee said it would offer a draft 2016 budget law to the second reading in the House of Representatives session on Monday. |
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Stage3Alpha:
EXOGEN: It now looks likely the yuan will be formally admitted to the IMF’s “special drawing rights” currency basket at the end of the month, which would mark a milestone in China’s efforts to become a global economic power. Rabbit: $o when they say the RMB will be par with the USD does this mean China is going to RV first. $o RMB is 6.3 to USD so that translate into $6.30 by 11/30/15 EXOGEN: WHAT MANY INTEL PROVIDERS HAVE SEEMED TO MISS IS THE YUAN IS THE TRIGGER AND CATALYST FOR THE GLOBAL FINANCIAL SYSTEM ARCHITECTURE RESeTRUCTURE EXOGEN: READ THIS VERY CLOSELY China on Saturday welcomed backing from IMF experts that the yuan should be included in its reserve currencies, saying the move would strengthen the world’s financial system.
China asked last year for the yuan to be added to the elite basket of SDR currencies, but until recently it was considered too tightly controlled to qualify. It now looks likely the yuan will be formally admitted to the IMF’s “special drawing rights” currency basket at the end of the month, which would mark a milestone in China’s efforts to become a global economic power. IMF chief Christine Lagarde said the fund now deemed the yuan “meets the requirements to be a ‘freely usable’ currency” — a key hurdle to joining the yen, dollar, pound and euro as a leading unit in international trade. The yuan hit headlines in August when China’s central bank devalued the currency and said it would use a more market-oriented system to calculate the point around which the currency can trade each day. The move sent markets into a tailspin as investors took it as a sign of slowing growth in China, a key driver of the world economy, but the central bank on Saturday said such reforms had taken it closer to joining the SDR basket. IMF chief Christine Lagarde said the fund now deemed the yuan “meets the requirements to be a ‘freely usable’ currency” “China thinks that the inclusion of the RMB (yuan) into the SDR basket will strengthen the representativeness and the attraction of the SDR (and) that it will improve the existing international monetary system,” the People’s Bank of China (PBoC) added. – Yuan’s rapid rise – The yuan has rapidly grown in importance in recent years as China — the world’s top trading nation — has used it to settle more of its commerce, and made it directly convertable with more currencies. Including the Chinese currency in the SDR would likely boost demand for yuan-denominated assets among central banks, and give it a sheen of respectability at a time when many investors are questioning Beijing’s ability to manage the slowing economy. Now the world’s second-largest economy, China asked last year for the yuan to be added to the el … Lagarde said IMF experts ruled Beijing had addressed “all remaining operational issues” required for SDR inclusion, which will be decided by the executive board at a November 30 meeting. “I support the staff’s findings,” she said, adding to expectations that the board will also back the yuan. That would mark an about turn from the beginning of August — before the yuan devaluation — when the Fund said the currency was not freely usable enough to be included in the basket. Despite the recent misgivings, there has been strong pressure for the IMF to act now as the SDR basket is only reviewed every five years. If a decision to include the yuan is made this month, the actual inclusion could take place as late as September 30, 2016, giving Beijing more time to prepare. “We intend to support the renminbi’s inclusion in the Special Drawing Rights basket provided the currency meets the International Monetary Fund’s existing criteria,” the Treasury Department said, using another name for the yuan. “We will review the IMF’s paper in that light.” *********** EXOGEN: IMF chief Christine Lagarde said the fund now deemed the yuan “meets the requirements to be a ‘freely usable’ currency” ************ Submitted by Tyler Durden on 11/15/2015 08:53 -0500 While the world was following the tragic events unfolding on Friday night in France where hundreds of innocent civilians were killed or injured, an important economic development took place at the IMF, whose staff and head Christine Lagarde, officially greenlighted the acceptance of China’s currency – the Renminbi, or Yuan – into the IMF’s foreign exchange basket, also known as the Special Drawing Rights. As Reuters summarizes, the recommendation paves the way for the Fund’s executive board, which has the final say, to place the yuan on a par with the U.S. dollar Japanese yen, British pound and euro at a meeting scheduled for November 30. At this point only an explicit veto by US political interests deep behind the stage can derail the CNY’s ascension into the SDR. The United States, the Fund’s biggest shareholder, has said it would back the yuan’s inclusion if it met the IMF’s criteria, a U.S. Treasury spokesperson said, adding: “We will review the IMF’s paper in that light.” If the yuan’s addition wins 70 percent or more of IMF board votes, it will be the first time the number of currencies in the SDR basket – which determines the composition of loans made to countries such as Greece – has been expanded.” Unless something dramatically changes in the next three weeks, of course, although that seems unlikely: moments ago Bloomberg reported that Treasury Secretary Lew met with Chinese Vice Premier Wang Yang and Finance Minister Lou Jiwei on the sidelines of the G-20 Leaders Summit in Antalya, Turkey, according to readout sent via e-mail by U.S. Treasury, where “Secretary Lew reiterated that the United States intends to support the Renminbi’s inclusion in the Special Drawing Rights basket provided the currency meets the International Monetary Fund’s existing criteria.” The executive board, which represents the Fund’s 188 members, is seen as unlikely to go against a staff recommendation and countries including France and Britain have already pledged their support for the change. This would take effect in October 2016, during China’s leadership of the Group of 20 bloc of advanced and emerging economies. As Reuters further adds, joining the Special Drawing Rights (SDR) basket would be a victory for Beijing, which has campaigned hard for the move, and could increase demand for the yuan among reserve managers as well as marking a symbolic coming of age for the world’s second-largest economy. In an ironic twist,, while the IMF has historically delayed the moment of acceptance, it caved just months after China officially devalued its currency for the first time in decades to stimulate its exports, and has unleashed an unprecedented campaign (using overt and covert means) to stabilize the Yuan as capital outflows in the past several months have soared. Reuters is likewise amused by this hypocrisy: “China’s heavy-handed intervention to stem a stock market rout over the summer, and an unexpected devaluation of the yuan in August, had raised some doubts about Beijing’s commitment to reforms.” Unless, of course, the whole facade of “reform” is just an epic smokescreen and what the IMF is truly rewarding is gross market manipulation and currency warfare, such as what all developed nations have engaged in since the great financial crisis. Singapore-based Commerzbank economist Zhou Hao said China needs to further accelerate domestic reforms and improve policy transparency. “The PBOC should reduce the frequency of market intervention, allowing market forces to really play a critical role.” IMF said its staff had found the yuan met the criteria of being “freely usable,” or widely used for international transactions and widely traded in major foreign exchange markets, Lagarde said. “I support the staff’s findings,” she said in a statement immediately welcomed by China’s central bank, which said it hoped the international community would also back the yuan’s inclusion. Still, even if formally accepted, few if any reserve managers will rush out to buy Yuan: China’s extensive capital controls mean it would take a while before the yuan rivals the dollar’s dominant role in international trade and finance, analysts say. Its closed capital account still limits foreigners from buying yuan-denominated assets and places caps on how much cash residents can take out of the country. These restrictions, along with concerns that the yuan is set to come under steady depreciation pressure, may cause corporates to back off from holding yuan. Nonetheless, the People’s Bank of China said the IMF statement was an acknowledgment of the progress China had made in reforms and opening up its economy. Putting aside this latest glaring example of globalist hypocrisy, here are the initial early responses by various Wall Street analysts. HSBC: SDR inclusion would encourage China to stick to much- needed financial and capital-account liberalization, Paul Mackel, HK-based head of global research, writes in note dated Nov. 14 USD/CNH moved above 6.4000 on Friday, which could suggest that more flexibility on yuan is coming Market players will want to see more volatility in the currency eventually; hence, inclusion in SDR doesn’t necessary mean that the RMB will be stronger Commerzbank: China needs to show commitment to further opening up its capital account and accelerate domestic financial reforms, led by interest-rate liberalization, Zhou Hao, Singapore-based senior economist, writes in email Country needs to improve policy transparency to attract global investors; that would build trust between global investors and Chinese authorities PBOC should reduce frequency of intervention, allowing market forces to play a critical role China stepped up rates liberalization in run-up to SDR inclusion; now it may increase pace of financial reform, Nie Wen, Shanghai-based economist, says in phone interview PBOC’s monetary policy stance will still be the most important element for investors to gauge regarding the yuan’s trading direction A more market-oriented system is crucial for Chinese capital markets; a “reasonable” pricing of domestic assets will reduce systemic risk Maybank: Inclusion will largely be a symbolic move because slowing economy and capital-outflow pressures may delay FX reforms, Fiona Lim, senior FX analyst, says in phone interview SocGen: Any positive reaction on yuan’s possible inclusion in IMF reserves to be short-term, given that the outcome was well priced in, says Jason Daw, head of Asia currency strategy at Societe Generale SA in Singapore. Being added to SDR unlikely to speed up the pace of reserve diversification into Chinese assets, Daw says in Nov. 14 e- mail interview ************** EXOGEN: China welcomes IMF backing to make yuan world reserve currency http://news.yahoo.com/imf-experts-recommend-inclusion-chinese-yuan-elite-currency-010527771.html EXOGEN: Making Sense of the SDR:
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saintandrewstwinflame 