– The dollar fell against most major currencies on Thursday after Federal Reserve Chairman Ben Bernanke said stimulus programs will stay in place for the foreseeable future.
Stimulus programs such as the Fed’s monthly USD85 billion bond-buying program weaken the dollar to spur recovery.
In U. S. trading on Thursday, EUR/USD was up 0. 95% at 1. 3104.
Fed Chairman Ben Bernanke said Wednesday evening that economic data suggest that the U. S. economy still requires highly accommodative monetary policies.
Bernanke made his comments just hours after the release of the minutes from the Fed’s June monetary policy meeting, which revealed other U. S. central bankers felt likewise.
Fed language sent the dollar plunging, as many investors were expecting more of a timeline as to when the Fed would begin tapering stimulus programs that weaken the dollar by keeping interest rates low so the economy will strengthen.
Data released Thursday dampened expectations for an imminent end to monetary stimulus programs as well.
The number of individuals filing for initial jobless claims in the U. S. hit a two-month high last week, rising by 16,000 to 360,000, according to the Labor Department, defying expectations for a drop of 4,000 to 340,000.
A separate report showed that U. S. import prices fell 0. 2% on a yearly basis in June, above expectations for a 0. 1% decline, while exports prices rose 0. 2% year-over-year, undershooting expectations for a 0. 4% rise.
Meanwhile in Europe, the European Central Bank said in its monthly bulletin interest rates will remain at currently low levels or even lower for an extended period of time, though the news came as little surprise to many traders, who chose instead to focus on the U. S.
The greenback was down against the pound, with GBP/USD trading up 1. 21% at 1. 5196.
The dollar was down against the yen, with USD/JPY down 0. 94% at 98. 75, and down against the Swiss franc, with USD/CHF trading down 1. 33% at 0. 9458.
Earlier Thursday, the Bank of Japan left monetary policy unchanged on Thursday in a widely anticipated decision.
The BoJ also upgraded its assessment of the economy, saying it is starting to moderately recover.
The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0. 84% at 1. 0378, AUD/USD up 0. 07% at 0. 9180 and NZD/USD trading up 0. 04% at 0. 7839.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 1. 62% at 82. 84.
On Friday, the U. S. will release official data on producer price inflation as well as preliminary data from the Thomson Reuters/University of Michigan on consumer – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.n

– The dollar fell against most major currencies on Thursday after Federal Reserve Chairman Ben Bernanke said stimulus programs will stay in place for the foreseeable future.
Stimulus programs such as the Fed’s monthly USD85 billion bond-buying program weaken the dollar to spur recovery.
In U. S. trading on Thursday, EUR/USD was up 0. 95% at 1. 3104.
Fed Chairman Ben Bernanke said Wednesday evening that economic data suggest that the U. S. economy still requires highly accommodative monetary policies.
Bernanke made his comments just hours after the release of the minutes from the Fed’s June monetary policy meeting, which revealed other U. S. central bankers felt likewise.
Fed language sent the dollar plunging, as many investors were expecting more of a timeline as to when the Fed would begin tapering stimulus programs that weaken the dollar by keeping interest rates low so the economy will strengthen.
Data released Thursday dampened expectations for an imminent end to monetary stimulus programs as well.
The number of individuals filing for initial jobless claims in the U. S. hit a two-month high last week, rising by 16,000 to 360,000, according to the Labor Department, defying expectations for a drop of 4,000 to 340,000.
A separate report showed that U. S. import prices fell 0. 2% on a yearly basis in June, above expectations for a 0. 1% decline, while exports prices rose 0. 2% year-over-year, undershooting expectations for a 0. 4% rise.
Meanwhile in Europe, the European Central Bank said in its monthly bulletin interest rates will remain at currently low levels or even lower for an extended period of time, though the news came as little surprise to many traders, who chose instead to focus on the U. S.
The greenback was down against the pound, with GBP/USD trading up 1. 21% at 1. 5196.
The dollar was down against the yen, with USD/JPY down 0. 94% at 98. 75, and down against the Swiss franc, with USD/CHF trading down 1. 33% at 0. 9458.
Earlier Thursday, the Bank of Japan left monetary policy unchanged on Thursday in a widely anticipated decision.
The BoJ also upgraded its assessment of the economy, saying it is starting to moderately recover.
The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0. 84% at 1. 0378, AUD/USD up 0. 07% at 0. 9180 and NZD/USD trading up 0. 04% at 0. 7839.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 1. 62% at 82. 84.
On Friday, the U. S. will release official data on producer price inflation as well as preliminary data from the Thomson Reuters/University of Michigan on consumer – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.n

[Papa Bear] GM Dinar Family
[Papa Bear] No questions this morning yet. 2 Statements to clear up 1 Yesterday Alin and canada goose said that i said no hurry on C/E. I feel just the opposite . I will get the ealiest possible appointment I can . Get it done and begin my plan immediately. I suggest moving quickly and get into your plan.
[Papa Bear] 2 The stoppage was only short and everyone wanted to know why . That wasn’t important as getting back started which things were worked out ok Now we are dealing with lots of countries and politics and chaging minds make our situation very fluid where it changes on moments notice
. Please folks Im not the best communicator in the world so realize that. IM trying… Our future is bright…. ALL MY MKTS were very volitle with lots of volume and ranges last night which I let Okie know. Finished.
[Iank1978] Papabear- do you agree that there will always be opposing views on things and at some point enough is enough, need to push it thru
[Robertprofessor] When you make a deposit, they can see it. The government will now due to the bank doing a FINCEN form if you cash in some dongs to pay off your reserves.
[Robertprofessor] So you need to know these things if you have reserves and plan to use some dongs to pay off your reserves. You will lock yourself into the lowest rate
[Robertprofessor] Maryrose This is from one of the team members that negotiated the great rate for us with WF.
[Papa Bear] Robertprofessor Yep Fincen involved
[texan1] Papa Bear GM do you have any updates after all the info yesterday?
[Papa Bear] texan1 Things are good and moving forward
[coder] Robertprofessor Papa Bear So…what if post we get bank loans to pay for reserves?
[Robertprofessor] beudful1 Going anywhere to exchange some revalued currency of any kind will cause you to receive the lowest rate on the IQD.
[Robertprofessor] I also received a ton of info on the NDA, and we’ve been looking at it backwards. The NDA is to protect us from bank employess peaking into our stuff and spreading info on us. We should not fear the NDA.
[Papa Bear] Did u folks follow the $ and gold MKTS last night with their volitility, VOLUME and HUGE MOVES
[flamingo] Papa Bear -What does that huge moves means??
[Papa Bear] flamingo The majority of volume at night are from banks and funds.
[Papa Bear] Currencies were as wild as I have ever seen them
[Robertprofessor] Furthermore, very few WF employees know about any of this. Those that do have dinar and a NDA. They will not get their $ until after us. They will take care of our appointments, get their payday, and ride off into the sunset. This is why contacting WF peeps gets you no info.
[Papa Bear] Folks most of u know Ive never been much of a reserve or option man with the dealers
[Papa Bear] I will say to you that I have advised whale clients and others to pay off reserves and bring all Dinars home out of depoitories at this time
[ringbell] Papa Bear I have dinar in IRA in depositories will Wells Fargo cash that in or do I have to go to dealer
http://www. fincen. go…/fin104_ctr. pdf
[Iank1978] Papabear- we that close?
[Iank1978] Anyone? If we do the group rate with what we have now we in hand…can we take care of reserves at another time just not WF group rate ? Probably dumb question but whatever
[Jester] Iank1978 NOT A DUMB QUESTION… THAT IS AN ACCURATE ASSESSMENT…
[#3sister] QUESTION if hubby cashes vnd can I cash in dinar and not be penalized?
[snowwolfsdee] Jester did you not tell everyone in the castle lets say over a MONTH ago to pay off their reserves? just saying
[Jester] snowwolfsdee WAS NOT A POPULAR CONVERSATION…
[oxglove] Jester Is there some or any concerns that dealers will not cover the reserve orders in their system in your opinion?
[Jester] oxglove NO WAY OF KNOWING WHAT THEIR RESERVES ARE… HAVE HEARD MANY RUMORS…
[jblb] Papa Bear no i am asking for real if i show up at wf short what i bought cause i really did give some do they need to be with me
[Papa Bear] jblb With gifting letter?
[pbeam] Papa Bear/Jester :: Currency Exchange – I plan to CE both Dinar and VND at WF. IYO do I need 2 accts for the 2 currencies – Unclear, but if B3, should not matter?
[Papa Bear] Folks WF wants to help you and wants your business. Never be afraid to ask.
[socalcutie] Papa Bear I appreciate yopur wisdom in the room, it is obvious that you are trying to give prudent advice to lead us down the bet path, but some doubt and the questions continue down other paths. thanks for all you do
[pappyy] If I may interject something here…. .this topic has been discussed over and over, there is a lot of speculation until C/E happens…best to ask lot’s of questions when you have the #800…. . also keep in mind you are exchanging a foreign currency for US Dollars, happen everyday, but not on the scale we are about to see so IMHO there will be a few different rules to play by
[cookiesdad] Papa Bear …. just to make sure I am understanding, you don’t think the “separating” of the funds between family is an issue, but we will probably have to all be there at the same time
[Papa Bear] cookiesdad There are lots of families in this . Dont make things harder than they have to be ask questions when making appointments. If they cant answer ask for someone who can answer your specific question. We are all different with different situations
[cookiesdad] Papa Bear … all good, thanks, just one of the statements through me
[MONTANA2] beudful1 My thinking went with someone’s earlier thought that the Feds would try to limit the total payout to any one entity.
[Papa Bear] MONTANA2 NO!
[Hoosier Girl] Papa Bear Should we have Trust or LLC set up Before our CE, due to taxes or will it matter?
[Papa Bear] Hoosier Girl No IMHO Might be a perk ask
[Hoosier Girl] Papa Bear Thanks
[pbeam] Papa Bear :: CE – Do I need 2 accts (Dinar/VND) or only 1 at first appt?
[Papa Bear] pbeam IMHO I would open 2 seperate accounts on appointment . This has been covered before. Also remember I said to imbed your account
[MONTANA2] This is the sort of topic/conversation that should be taking place in the late afternoon/evening when most folks are maybe not working and are at home in the chat. Lots of good ?s that others are not hearing. Recaps only annotates. Will this ENTIRE chat be in the forum?
[starbucksrules] Papa Bear Papa Bear OK then…. .I was asking because it is always possible these Call Centers will be trying to get through as many calls, as quickly as possible!!
[Papa Bear] starbucksrules True thats why I would ask for another name and number if u have questions. These are appointment lines and questions are more appropriate at appointment . Remember . If you need another appointment after you C/E. You can always arrange that.
[Ribeye] Papa Bear i’m assuming WF has anticipated all the major concerns we will have about exchanging/protecting our money at the time of c/e. Would that be a correct assumption.
[pbeam] Tks Papa Bear, found “IMBED” posted on Friday AM 5/17/2013
[sandytob] Papa Bear imo these call centers are manned by temps who have been trained to make appointments and that is all. They are not really connected to the bank and cannot answer any questions related to reserves and cannot connect you to a banker.
[ezmuny] the call centers are probalby not going to be able to answer ?’s about any financial problams, they will be trained to answer calls and direct you to the bank closest to you and make appointments on the putor only , they will tell you to ask at your appointment . imo
[Papa Bear] Have a plan and work it you want additional insurance ask if its available. Everyone is different
[socalcutie] Papa Bear do you ask the banker to imbed your account
[canadagoose] Papa Bear Just to be clear: WF has prepared their branches in various countries, yes? Each will have their specific rules and perks all set up? Ie, Canada, Australia, England….
[socalcutie] Papa Bear i really never heard this before, try to catch you all the time, don’t understand it. I have authenticity, and will ask for CCC, but do not understand what imbed implies?
[ready4riches] Papa Bear are you giving this information now because you feel we are about to see our rv?
[cheeny] Papa Bear Will there be a problem taking our attorney with us to CE?
[Readynow] socalcutie imbed-ce into one acct. then transfer to new acct
[Papa Bear] ready4riches Always trying to help. LOL
[socalcutie] Papa Bear thanks, i didin’t see it or didnt understand that is what imbed means. i think, per my above statement, that i understood that a long time ago. Thanks much.
[cheeny] Papa Bear Thanks, but if deposit going into trust, doesn’t trustee have to make the initial CE?
[Papa Bear] cheeny Your situation is different ask question . Sounds like you are giving up control of your $$ to someone else. NOT MY BAG IMHO
[abbababy] Papa Bear Someone stated on chat that WF will be limiting the best rate on dinars. Is that true. If one has several million dinars will they still beable to CE all for the highest rate or is that an unknown until we get to the WF bank? for all that y0u bring. God Bless You. Appreciate you.
[cheeny] Papa Bear If I had your financial acumen, I wouldn’t, luckily family friend and we trust them.
[Dinar2001] Papa Bear Can you suggest company names for insuring our bank accounts besides Lloyds for us to research? thanks
[Papa Bear] Dinar2001 They are great and ask WF wealth manager for suggestions.
[Papa Bear] cheeny Wife smarter BEAR than I am. I get torns in my pawes from time to time. AND GROWL she doesnt
[abbababy] Papa Bear SSo would you think one could use WF leverage to go to another bank for the same rate for another mil? 5/3rd bank said they would match rate from WF a few months back when I talked to the PB. Would you suggest holding back then from CE all of dinars with WF.
[Papa Bear] abbababy Won’t be able to match WF group rate IMHO. Go other places first if u want . Just saying