http://dinaresgurus.blogspot.ca/
Backdoc & Thunderhawk update, 6 OCT
Backdoc: WITH ASSET PRICES READY TO RETEST THE LOWS IN AUGUST OR CHALLENGE NEW LOWS WE ARE BEGINNING TO SEE THE EARLY SIGNS OF THE POLITICAL SOLUTION TO BLACK GOLD OVER PRODUCTION!
WITH U.S. RIG COUNTS DROPPING BUT EFFICIENCY GOING HIGHER MORE RIG COUNTS WILL SURELY DROP!
THE GREAT NEWS IS RUSSIA SEEMS TO BE SOFTENING ITS TONE NOW AND IS WILLING TO START TALKS WITH OTHER OIL PRODUCERS!
MMMM THIS SHOWS “THE DEAL” WITH IRAN IS STARTING TO MATURE! AS THE U.S. SIDESTEPS IN SYRIA, RUSSIA AND IRAN BRING SECURITY TO THE MIDDLE EAST!
NO DOUBT FRANKS INTEL WILL PROVE RIGHT VERY SOON WITH OIL PRODUCERS!
SAUDIA ARABIA HAS TO MAINTAIN ITS PRODUCTION HIGHER AS IT HAS VERY LITTLE OTHER PRODUCTS OR SERVICES TO RENDER! MAYBE THAT’S WHY THEY CUT THEIR PRICE PER BARREL AGAIN! MMMM
REMEMBER THE SOLUTION WILL BE POLITICAL, OTHERWISE PRICES WILL COLLAPSE DUE TO OVER PRODUCTION!
8@8, DOC IMO
************
Thunderhawk: Backdoc Alert
Oil gains as Russia set to meet with producers; stock markets up
Oil prices jumped after Russia said it was ready to meet with other producers to discuss the market, while world stock indexes rose with commodity-related shares amid a backdrop of low global interest rates.
The S&P 500 rose for a fifth straight session for the first time this year, helped by increases of more than 2 percent in S&P’s energy .SPNY, materials .SPLRCM and industrials .SPLRCI indexes.
The S&P health index .SPXHC, up just 0.3 percent, underperformed the broader market with biotechs falling as sector sentiment tumbled alongside shares of Canada’s Valeant Pharmaceuticals (VRX.TO) (VRX.N) and after industry complaints the Trans-Pacific Partnership agreement falls short on patent protection for drugs.
Valent’s U.S. shares slid 10.3 percent to $163.46.
News that Nelson Peltz’s Trian Fund Management disclosed a roughly 1 percent stake worth $2.5 billion in GE (GE.N) lifted GE’s stock 5.3 percent to $26.82, the biggest positive influence on the S&P 500.
“The market was a bit oversold,” said Stephen Massocca, chief investment officer at Wedbush Equity Management LLC in San Francisco. “Energy stocks are very oversold so they’re a big contributor to the rally today. Commodity names seem to be catching a bit of a bid. We’re still looking for low interest rates and the Fed to be on hold for a while.”
The Dow Jones industrial average .DJI rose 304.06 points, or 1.85 percent, to 16,776.43, the S&P 500 .SPX gained 35.69 points, or 1.83 percent, to 1,987.05 and the Nasdaq Composite .IXIC added 73.49 points, or 1.56 percent, to 4,781.26.
European stocks surged, with the FTSEuroFirst 300 index .FTEU3 in Europe ending up 3 percent. Data showing euro zone business activity grew at its weakest pace in four months during September reinforced expectations monetary policy backdrop will remain equity-friendly.
MSCI’s all-country world index .MIWD00000PUS was up 1.9 percent.
RUSSIA
Oil prices climbed after the news on Russia, with Brent LCOc1 settling at $49.25 a barrel, up $1.12 or 2.3 percent. and U.S. oil’s West Texas Intermediate (WTI) crude CLc1 up 72 cents, or 1.6 percent, to settle at $46.26.
Russia, one of the world’s top three oil producers, said it was prepared to meet OPEC and non-OPEC oil producers to discuss the market if such a meeting is called.
Moscow had been unwilling in the past to cut its oil output to support prices.
The U.S. dollar rose against a basket of major currencies on renewed investor risk appetite in the wake of a disappointing U.S. jobs report.
A U.S. rate hike is expected to boost the dollar by driving investment flows into the United States. While the dollar has previously weakened on expectations for later Fed rate hikes, the greater risk appetite took precedence on Monday.
The U.S. dollar index, which measures the greenback against a basket of six major currencies, was last up 0.26 percent at 96.081, marking a recovery from a nearly two-week low of 95.218 hit Friday
Before Friday’s jobs data, the Fed had been widely expected to raise U.S. interest rates by year-end. It decided not to change its policy path in September.
ASIA, BONDS
Japan’s Nikkei .N225 ended the day up 1.6 percent, while Chinese markets were closed for a holiday.
Analysts said the Bank of Japan could ease policy as soon as this week, though action at its Oct. 30 meeting may be more likely.
In the bond market, U.S. Treasuries prices fell, with benchmark yields climbing from their lowest since April, as weak services sector data supported the view that the Fed is unlikely to raise rates soon, spurring investors to move into stocks from bonds.
The Institute for Supply Management said its gauge on U.S. services industries fell to its lowest level since June.
U.S. benchmark 10-year Treasury notes US10YT=RR were down 20/32 in price to yield 2.059 percent, up 7 basis points from late Friday. The 10-year yield touched 1.904 percent on Friday, which was its lowest since late April, according to Reuters data.
Gold was little changed, as profit-taking set in after a rally. Spot gold XAU= had turned down 0.1 percent at $1,136.11 an ounce. Copper prices jumped.
**************
Backdoc: POLITICAL NEGOTIATIONS! BINGO!
NOW ITS UP TO INVENTORY RESULTS TO SEEK THE FACTS!
DEMAND ALSO PLAYS A PART HERE! IF IT DROPS, MORE CUTS WILL BE NEEDED!
Thunderhawk: Hint Russia May Work With OPEC Sends Oil Prices Soaring
Oil prices jumped in world markets October 5 after Russia’s energy minister over the weekend said Russia might attend an OPEC meeting to discuss the depressed state of oil prices.
Russian Energy Minister Alexander Novak told the Sochi-2015 international investment forum October 3 that Russia and the Organization of the Petroleum Exporting Countries might organize a meeting between technical specialists.
“Russia is ready to participate in discussing the situation emerging in the oil and gas markets,” he said.
It would be a first for Russia, which as one of the world’s top three oil producers has never joined or cooperated with the price-setting cartel. But today’s depressed oil prices have been crushing Russia’s economy and government revenues.
Novak’s remarks sent oil prices soaring by 2.3 percent in London trading, with Brent crude settling up at $49.25 a barrel.
“The news provided strong upside momentum in the oil market, as Russia has been thus far unwilling to cut oil production and cooperate with OPEC members to support current low crude oil prices,” said Myrto Sokou, analyst at Sucden Financial Research.
Backdoc: THE SEARCH FOR THE NEW GLOBAL REALITY MAY BE CLOSER THAN WE THINK! IF CHINA STABILIZES HERE WE MAY BE CLOSE. OTHERWISE WE MAY HAVE ONE MORE LEG DOWN! THE ANSWER WILL COME WITH BLACK GOLDS NEGOTIATIONS! DOC IMO
Thunderhawk: Backdoc Alert
Asian shares rise on fading Fed rate views
Fading expectations that the U.S. Federal Reserve will raise interest rates this year and a bounce in oil prices helped lift Asian stocks to two-week highs on Tuesday.
The cheer was expected to extend into European trading, with financial spreadbetters predicting Britain’s FTSE 100 .FTSE would open up 0.4 percent. Germany’s DAX .GDAXI was seen opening 0.5 percent higher, and France’s CAC 40 .FCHI was called to open up 0.6 percent.
“European equities are set to start with modest gains this morning as the prospect of loose monetary policy continues to give a little more fleeting upwards momentum,” said Jonathan Sudaria, dealer at Capital Spreads.
“However, the fact that the bulls have to rely on what was once deemed to be ’emergency’ measures to go higher should actually be reassuring to the bears,” he said in a note to clients.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.8 percent in afternoon trade, after earlier touching its highest levels since Sept. 18.
Japan’s Nikkei .N225 ended up 1 percent, extending its rebound from an eight-month low hit a week ago.
“One of the two big persistent concerns has faded, so investors are taking risks,” said Masashi Oda, senior investment officer at Sumitomo Mitsui Trust Bank, referring to expectations of a near-term Fed hike.
“Short-covering by those who had shorted stocks on those worries will likely support the market for a while.”
Japanese shares garnered further momentum from speculation that the Bank of Japan might expand its stimulus program to support the flagging economy.
The BOJ began its two-day policy meeting on Tuesday, at which it is widely expected to hold monetary policy steady. But a surprise cannot be ruled out, and pressure is building on the central bank to act.
At its next meeting on Oct. 30, the BOJ is expected to cut its long-term economic and price projections.
Also underpinning sentiment, 12 Pacific Rim countries including the United States, Japan and Canada reached the most ambitious trade pact in a generation, though some analysts say the benefits of the far-reaching plan are far from clear at this point.
“The market seem to be driven by speculation on policy steps, including uncertain benefits from the Trans-Pacific Partnership (TPP),” said Hitoshi Ishiyama, chief strategist at Sumitomo Mitsui Asset Management.
Fed officials have said the central bank is likely to raise rates this year as the U.S. economic recovery progresses, but surprisingly weak U.S. jobs data on Friday led many investors to abandon expectations of a rate hike by the year-end.
That boosted sentiment towards riskier assets, which have been long hit by threats of higher dollar borrowing costs as well as fears of a deeper slowdown in China.
Wall Street rallied overnight, and MSCI’s broadest gauge of world stocks .MIWD00000PUS rose 1.9 percent on Monday to its highest level in more than two weeks.
Signs of a bounce in battered commodity prices helped soothe concerns of a global slowdown and lifted shares of energy and resource companies.
Global crude benchmark Brent LCOc1 was up 0.4 percent on Tuesday at $49.42 a barrel after soaring 2.3 percent overnight, led by a rally in U.S. gasoline and Russia’s willingness to meet other major oil producers to discuss market conditions.
Brent edged closer to the top end of its rough $46-$50 trading band in the past month. U.S. crude CLc1 was up 0.2 percent at $46.35 after gaining 1.6 percent in the previous session.
The dollar was mixed against major currencies as the headwinds from fading expectations for a Fed hike were countered by positive risk sentiment. The dollar index .DXY, which tracks the greenback against a basket of six major currencies, slipped about 0.1 percent to 96.036.
The dollar traded at 120.38 yen JPY=, down about 0.1 percent, while the euro traded at $1.1188 EUR=, down slightly.
The Reserve Bank of Australia kept rates at a record low of 2 percent as widely expected, and said Australian dollar is adjusting to lower commodity prices.
After the decision, the Australian dollar AUD=D4 erased modest earlier losses and added about 0.6 percent to $.07124 AUD=D4, after hitting a two-week high of $0.7135.
http://www.reuters.com/article/2015/10/06/us-global-markets-idUSKCN0S001I20151006
Backdoc: AS WE HAVE READ BEFORE THE VERY SURVIVAL OF THE NAZI BORN CAR COMPANY, VW IS NOW A QUESTION!
WILL THE LARGEST CAR COMPANY IN THE WORLD HAVE ITS OWN HOLOCAUST? HOW WILL ITS FINANCIAL IMPACT AFFECT GERMANY’S ECONOMY?
SEVERE SUFFERING HASN’T REALLY BEGUN YET. LAW SUITS WILL BEGIN TO FLY SOONER THAN LATER. THEY ALSO ARE A FLY IN THE OINTMENT WITH THEIR SLAP! ON GOING GREEN! OUCH!
DOC IMO
Federal Prosecutor for Consumer Defense Lorena Martinez said that Mexican authorities may impose a fine of almost $7 billion on Volkswagen for equipping some 32,000 diesel cars sold in the country with software that allows vehicles to cheat on emissions tests.
The Mexican authorities may impose a fine of almost $7 billion on Volkswagen for equipping some 32,000 diesel cars sold in the country with software that allows vehicles to cheat on emissions tests, Federal Prosecutor for Consumer Defense Lorena Martinez said Monday.
“This will be a direct sanction following the obvious assumption that the cars did not comply with the norms and the consumer was deceived in terms of characteristics and properties they did not posses,” Martinez said in a statement.
In late September, Volkswagen admitted that it had sold 11 million diesel engine cars worldwide that emitted up to 20 times more greenhouse gas than showed in official emissions tests.
According to previous estimates, the carmaker could face up to $18 billion in fines.
KTFA CHAT MORE UPDATES, 6 OCT
KTFA:
Dnari131:
» October 6th, 2015,
IMF Staff Completes 2015 Article IV Mission to Islamic Republic of Iran
http://www.imf.org/external/np/sec/pr/2015/pr15458.htm
************
Walkingstick: Abadi held a closed door meeting with Sistani’s representative in Karbala
Author: HA, HH, TT
Editor: HA, HH 2015/10/06 16:48
Long-Presse / Karbala
Holding Prime Minister Haider al-Abadi, on Tuesday, closed-door meeting with a representative of the religious authority in Karbala Ahmed net.
A reporter (range Press), said that the Prime Minister Haider al-Abadi hold Enter one of the sponsor hospital rooms a closed door meeting with the representative of the religious authority in Karbala, Ahmad Safi.
The Prime Minister Haider al-Abadi, arrived on Tuesday, to the city of Karbala to participate in the continued opening of the Abbasid threshold Hospital. LINK
**************
Frank26: CC NOTES last night : “Abadi held a closed door ……..”
He held MANY !!! KTFA Frank
**************
Walkingstick: Hamoudi: Iraq in front of a secure investment climate after the approval of amendment of the Investment Law
Written by AH Date: 06/10/2015 13:46
Baghdad – INA / First Deputy Chairman of the House of Representatives, Hamoudi, said on Tuesday that Iraq vector to achieve a secure investment climate to facilitate the work of investors.
He said Hamoudi’s office said in a statement, “The Iraqi news agency” received a copy of it, “deputy speaker of parliament Humam Hamoudi received, today, the Romanian Ambassador Jacob Prada, and discussed with him the need to take advantage of Romania experience in building a healthy and effective emergency sector in Iraq.”
Hamoudi said, that “The country is heading for a secure investment climate to facilitate the work of investors and provide all potential logistical and security to them, especially after the adoption of the investment law in the near future.”
Hamoudi praised as “the experience of Romania in the face of corruption and its keenness to develop relations with Iraq,” stressing “the need to activate the committees of friendship between the two sides especially in the field of economy and investment,Link
************
Frank26: Hamoudi: Iraq in front of a secure investment climate after the approval of amendment of the Investment Law” TA DA!!!!
TNT CHAT UPDATE, 6 OCT
TNT:
Shybaby:
Forex @ 7:11 1103. 200 across the board… bid , high , low , open
Iko Ward: Yes, we are in the zone again on Forex. Just remember it is one of many indicators. I am now more interested in the various bank stories. Momentum there is a big focus. Yee Haa!
ChrisTNT52: Which bank stories is IKO watching? Historically (over the years) they weren’t worth the rumor they were written on. Be curious to know if the ones Iko’s referring to, are more credible
NewCreation: Chris, there have been several members who have exchanged, some just one currency (caught when a window was open by chance) . Now , like Tony says, we have folks who have exchanged all 4 currencies…
Iko Ward: Hi Chris, various sources are reporting of chance exchanges and providing physical evidence. They are never for dinar, but over the last two weeks a bunch if people exchanged rupiah and dong (though not for international rates, but still good enough to exchange and then re-invest the profit.)
….
I believe these are regional test of the system and people luck out. But still, a big step forward.
What I like to do is take a piece of intel and then compare it to Forex, the Stock Markets, Gold and Crude, what I’m hearing in Chat and on OM. Not fool proof, but worth the work.
Iko Ward: Not that we care about such things (ehem), but Gold and Crude keep climbing, and the market fear and greed index is up to 31. Lets all hold hands and jump together.
************
NetGlobal: Incompetence or Theft?:Iraq TradeLink News Agency October 6th, 2015 Iraqi ex-premier [Minister for Energy Affairs] Baha’ al-Araji disclosed that the previous government of Premier Nouri al-Maliki “wasted one trillion dollars during the past years”.
Cozmo: Good Article … “Ex-Iraqi Premier Maliki charged of wasting one trillion dollars” — http://www.iraqtradelinknews.com/2015/10/ex-iraqi-premier-maliki-charged-of.html
***********
Elmerf123456: From across the pond. A fire has been lit!
Abadi has been re-energized to a new level And his primary purposes are in full swing. We are seeing areas where past differences would labor for days or weeks now change basically in an instant.
Could it be that the programmed bickering in parties have finally subsided to new lows or is it that the programmer has been has lost their salt.
One things for sure, road blocks have been removed and this government is hitting timelines with a new sense of common purpose.
NoNo: what is happening in the GOI now… it should be no surprise. The PM’s trip to the US wasnt just to deliver a speech to the UN, he was also here seeking permission and a concensus from the other world leaders on how to, and if they were in agreement with his Maliki issues. And obviously, HE GOT IT~!
****
Elmerf123456: Whoop Whoop!! IMF urges China to float Yuan De-peg from USD Link
Flybaby77: Elmer….. is that what we want or can it rv without the depeg
Elmerf123456: Either way. West banks mark down to market the derivatives and we’re done. Or China depegs on its own driving down the is currency and causes a ripple negative effect in the economy and we’re done
Buckeyefan: So, in reading all the information out there seems like it “could” be a while yet. It’s so hard to know which way it’s going. Seems like we just need to get use to waiting, and keep doing our best because the time lines come and go then we chase the next one, then people get angry and demanding the twitter folks are having a field day but they’re bored.
Elmerf123456: Buckeye fan it “could” but that’s not what I’m hearing. I’m hearing it “could” be very fast.
….
Elmerf123456: I doubt the 2016 date for one reason although I have others. For one Oct 20th is the date for the Yuan to become the reserve currency. With that they have 100% no reason to remain fiat and will go gold backed. That’s a good reason for me.
Apexdinar: Very cool, Elmer – the Yuan depeg & subsequest rate stabilization is the exact reason why one of my peeps said it won’t happen this year…so we’ll see…hope you’re right
FreedomBoomer: Elmer what are you hearing about the dong? Will it go also?
Elmerf123456: Can’t say for sure but believe rupiah dong and zim will go with Iqd.
**********
OK Rocks: CBI Recommendations: in order to provide consistency between the portfolio management of the Central Bank’s foreign reserves and the current exchange system, it is necessary to link the Iraqi dinar to a basket of currencies that their weights are identical to the weights of the port-folio.
We say: monetary policy needs to link the Dinar to a basket of currencies instead of being only linked to the Dollar. Then, we will reach the quasi fiscal cost-benefit equilibrium in the state budget and the balance sheet of the central bank at the same time.
https://drive.google.com/file/d/0B09_WSWMFYjNdDRGRGp0ZXl5Y00/view?pli=1
Newcreation : OKOKOKRocks! Wooohooooo
**********
RVwetrust2: OK have you heard of any extensions by IMF or World bank as to the mandatory Basil III requirements for all countries. Current date is 10/15/2015
TBirdd: RvWe—i havent.. maybe that date still stands…
RVwestand2: thanks tbirdd I have not received anything different either.
Already Blessed: Everything is awesome right NOW….I don’t have any dates or rates but very hopeful that we are done….tony gave it all to you yesterday….no bad news …. Plenty of good news….hang in there
DINAR GURUS UPDATE, 6 OCT
10-6-2015 Newshound Guru wmawhite When I first got into this investment I was always thinking that this investment was ready to come to fruition. Then as late as a year and a half ago, when we were told by the CBI, GOI and members of Parliament that it was not time for the “Delete The Zeros Project” I thought that they were crazy. Little did I understand that there was much more to accomplish by the CBI and the GOI. It was as if the pizza had just been put into the oven and we the investors were ready to pull it right out of the oven. Now I can see the importance of what is taking place today and how critical all of this activity is. Whether it is the restructuring of the banking system, or the Anti Money Laundering Law or the taxes and tariffs, all of these initiatives along with many more are like the toppings of a pizza. [post 1 of 2….stay tuned]
10-6-2015 Newshound Guru sczin11 …ALL THE IMPORTANT LAWS ARE STATED AS READY FOR VOTES, AND THEY ARE ALL COMING TO VOTE …EVEN MINUTES AFTER THE HOLIDAY THAT ENDED 8 DAYS AGO…YET THEY ARE NOW ADJOURNED UNTIL OCT 13…THEY JUST HAD 2 WEEKS OFF…WHAT EVENT ARE THEY WAITING ON? HOW MANY TIMES DO WE NEED TO SEE ANOTHER MP OR DIGNITARY OR ECONOMIST TELL US INVESTMENT LAW IS READY – NATIONAL RECONCILIATION IS STARTING… USA SAYS GO…MASSUM SAYS HES READY…JUBOURI SAYS WE ARE MOVING AHEAD..AND ABADI SAYS…COME ON INTO THE GREEN ZONE!
10-6-2015 Intel Guru Frank26 Here is the NEW 1, 2 and 3: #1 – The LAWS must be put in a public forum…THE GAZETTE to be announced to the world. Until then, the laws will be used behind closed doors. #2 – in my opinion, I’ve told you that lower denoms are being held on the east-coast of the USA. We need to see the lower denoms MOVE to the middle-east. The banks [in Iraq] have been set-up. First of all it will be an RI inside of Iraq. #3 – “Lucy, I’m home!” In other words Dr. Shabibi is back at the helm. There will be great SECURITY…no Maliki! Before the end of 2015 I believe that Dr. Shabibi needs to make a move on the IQD.
10-6-2015 Intel Guru Frank26 [via FrostyTheSnowman] I feel very, very confident about the advancement of the monetary reform… it’s amazing how fast things are occurring at the same time. Many changes happening right now…The middle-east is freeing itself of terrorism and corruption. We have a date that we believe that we will see 3 more things – it is the date when Dr. Shabibi will be back at the helm of the CBI calling the shots. The IMF gave Dr. Shabibi the GREEN LIGHT (back in April) and in that time period Dr. Shabibi wanted to do this back in July but there was not enough SECURITY to do it. On September 16th the Finance Committee (of the GOI) came out and said they had passed laws and said that the new 50’s and 100’s would be coming out. They were ready then but the timing wasn’t right. Is the timing better now? MUCH BETTER! [post 1 of 2….stay tuned]
10-6-2015 Newshound/Intel Guru BGG I am looking for some public move against Maliki anytime soon… Abadi appears to have what it takes – there is great public sentiment to support him…and too many public accusations for there not to be something to it and…once they deal directly with Maliki – it opens the door wide for monetary reform.
10-6-2015 Newshound Guru Kaperoni Article quotes: “…sources expected a change in the equation in Iraq through support of Washington and the Gulf states for a new government in Baghdad away from Iran in return for including Iraq to the GCC.” “The sources said that the new Prime Minister proposed by Washington named «Imad Khersan…” There is clear motives here to reform Iraq. With or without Abadi, there seems to be a plan. Seems to be a bigger strategy to isolate Iran away from Iraq and reforms play a part in that. If Abadi cannot accomplish what has been asked of him, there may be pressure to change him to this other guy Imad Khersan. Time will tell.
10-6-2015 Intel/Newshound Guru Mnt Goat Parliament is now telling us the draft investment law will be voted on through the House of Representatives session on Tuesday 10/6. This law goes way back years ago, when Iraq had their multi-national investment seminar. Resulting from this seminar were many of these recommendations made to Iraq. They are finally going to implement them. So now this opens the door to the private sector. A better way to say it is “activating the private sector”… It is about to begin… This did not have to take place prior to an RV however we are glad to see it since it shows us the commitment of the GOI to moving forward towards creating a sound economy which could only mean they would have to RV at some point very soon after activating this law. We are still waiting for the National Guard law, Three Presidencies bill and Amnesty law to be passed in parliament. All of these laws have had second readings.
saintandrewstwinflame 