http://dinaresgurus.blogspot.ca/2015_11_15_archive.html
EXOGEN INTEL SNACK, 15 NOV
THE YUAN IS THE TRIGGER AND CATALYST FOR THE GLOBAL FINANCIAL SYSTEM ARCHITECTURE RESeTRUCTURE.
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Exogen:
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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. -
SEPTEMBER 2015 WAS DATE PUT OUT IN AUGUSTTHINGS HAVE CHANGED SINCE AUGUST AND THE YUAN IS ALREADY TRADING WITH COUNTRIES GLOBALLY AND THE CIPS SYSTEM IS 100% LIVE
DINAR GURUS UPDATE, 15 NOV
11-15-2015 Newshound Guru Kaperoni monetary policies are not reinvented weekly or yearly or whenever you want. They are tried and tested and well thought out…the IMF has a clear plan for the dinar…well documented…same for any other emerging market. …the rate is the rate. when they transition its just that…one day we are pegged, the next we are floating. The rate is what it is at the time. Which today is 1166. the dinar is international now and they are not floating it…it is pegged. they want to free float, no limits. [if dinar is international now how come banks in the US can’t buy or sell it?] simple they dont want to. I assure you if a bank wanted to exchange dinar, they could…too risky. [Did Shabibi say in Jackson hole Wyoming in 2010 that the rate would be 3.22?] I am sure the Iraqis would love 3.22 but they never said that would happen overnight. THe UST and the IMF and the fiance committee within the last week all told the CBI to free float the dinar…that is as clear as it gets…not an overnight event. [free float from 1166 correct?] …where ever it is when they move is what it starts at. [post 2 of 2]
11-15-2015 Newshound Guru Kaperoni IMO the IMF under the new MoU (Memorandium of Understand) will manage the CBI monetary policy for a year. And IMO that will include helping them transition into the global marketplace…monetary policy is pretty straight forward and well documented…when the CBI wants to change, they simply will change the procedure…As they stated will occur before the middle of 2016. [Please explain the change in “procedure” by the IMF…] a change in procedure is fixed to float. there is no rv…the IMF Article IV, that is confirmation. [I think you have to consider conditions today…] the CBI already did that..what do you think the 50k is for? poor conditions prevent the CBI from moving at this time to a float. Therefore the 50k is a pacifier for the citizens. [IYO…is that also the move from a dual currency and operating only on the IQD?] iraq can never get rid of the dollar 100% they sell oil.
S3A CHAT UPDATE, 15 NOV
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.
“It will have win-win benefits both for China and the world.”
– 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.
The recommendation Friday was broadly backed by the United States, China’s main rival for world economic supremacy.
“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.”
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EXOGEN: IMF chief Christine Lagarde said the fund now deemed the yuan “meets the requirements to be a ‘freely usable’ currency”
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EXOGEN: IMF Greenlights Addition Of Chinese Yuan To SDR Basket: Wall Street Responds
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.”
I would say that the likelihood of China’s yuan joining the IMF currency basket this year is very high,” said Hong Kong-based Shen Jianguang, chief economist at Mizuho Securities Asia.
“The only thing that could deter this is if the U.S. led a group rejecting the yuan’s inclusion, which could complicate things. But the United States’ current official stance doesn’t reflect such an attitude,” he said.
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.”
No matter what the real reasons behind the historic development,
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.
We suppose by that it means arresting stock shorters, prominent fund managers, doubling margin requirements at will, and crushing anyone who dares to sell the currency in the “open market.”
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
Knee-jerk reaction for yuan to strengthen should be temporary; will be interesting to see if PBOC decides to become more hands-off
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 should provide more hedging options to corporates and financial institutions, so they can prepare for greater financial-market volatility
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
Onshore-offshore yuan spread is expected to narrow in coming days
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
SDR inclusion will improve “rationality” in investment and assets allocation, which will improve financial stability
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
“We continue to see an upward bias to USD/CNY over the coming months and expect it to reach 6.80 by mid-2016.”
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EXOGEN: China welcomes IMF backing to make yuan world reserve currencyhttp://news.yahoo.com/imf-experts-recommend-inclusion-chinese-yuan-elite-currency-010527771.html
saintandrewstwinflame 
IMF Confirms RMB Meets Criteria for SDR Inclusion
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3 THOUGHTS ON “IMF CONFIRMS RMB MEETS CRITERIA FOR SDR INCLUSION”
[Provisional Translation]
November 13, 2015
Ministry of Finance
2. Issue Date November 25, 2015
3. Eligible Issues
Issue No.312-339 of outstanding 10-year JGBs
Issue No.48-127 of outstanding 20-year JGBs
Issue No.1-4 of outstanding 30-year JGBs
4. Offering Amount About 500 billion yen”
UPDATED: Sunday November 15, 2015 5:10 PM
3556
8
3581
A French defense official says the country has launched a “massive” series of airstrikes on the Islamic State group’s de facto capital in Syria, destroying a jihadi training camp and a munitions dump.
The ministry spokesman said Sunday that the strikes on Raqqa involved 12 aircrafts, including 10 fighter jets, and 20 bombs were dropped.
The spokesman spoke on condition of anonymity because he wasn’t authorized to speak publicly.
©2015 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
11/15/2015
A government official revealed, on Sunday, for the adoption of the government reform strategy that includes taking inter orders and decisions to address the imbalance in the structure of the state’s political, economic, financial, administrative and service aspects and the fight against corruption. Quoted the official newspaper “Al-Sabah” the official as saying, “The government is moving to adopt a reform strategy that includes take inter orders and decisions to address the imbalance in the structure of the state of political, economic, financial and administrative, service and anti-corruption aspects, “noting that” these steps are complete approach to comprehensive reform adopted by the State to achieve the stability and development of reconstruction. “The official added,” The new strategy aims to achieve a comprehensive reform and radical to address the imbalance in the structure of the state in economic, security and political aspects, “adding it was” the completion of the steps effectively began two months ago. “He said,” The executive branch proceeded to take actions and decisions to support the private sector and moving the economy and reforms, including facilitating the entry of oil companies by reducing and bureaucratic obstacles and make it less complex, particularly in relation to the introduction of its material, in parallel with announcing the resolutions issued by the government to facilitate the work of the oil companies and the rehabilitation of state-owned enterprises to overcome the current financial crisis.
“He noted” the existence of mobility within the corridors of the Council of Ministers, in order to involve the international community to support the Iraq in its war against terrorism, saying it was an important step that reflects the extent of Iraq’s interaction with countries of the region and the world, and his support in the war that led against Daash, “stressing” the government continues negotiations represented by the Ministry of Finance, with the Bank and the International Monetary Fund in order to provide soft loans to Iraq, sniffing Monetary concerns the current crisis with the continued pumping of oil exports, and diversify the resources that bring next year’s budget estimates of targets. “
http://www.ikhnews.com/index.php?page=article&id=142748
11/12/2015
https://youtu.be/0qyRVuB4Fp4