I4U:

[constantlyabiding] Ok guys.. I was disappointed that Jack Lew did not make any specific comments about our investment. Or did he? After some digging here are some puzzle pieces…I have my theories.. so here we go.

constantlyabiding] Last year CNBC posted an article about Dodd Frank.. some key points from the article;

 [constantlyabiding] What does Dodd-Frank do to regulate banks? One of the main goals of the Dodd-Frank act is to have banks subjected to a number of regulations along with the possibility of being broken up if any of them are determined to be “too big to fail.”

 [constantlyabiding] To do that, the act created the Financial Stability Oversight Council (FSOC). It looks out for risks that affect the entire financial industry.

 [constantlyabiding] The Council is chaired by the Treasury Secretary, and has nine members including the Federal Reserve, the Securities and Exchange Commission and the new Consumer Financial Protection Bureau or CFPA. It also oversees non-bank financial firms like hedge funds
….
Read More Link on Right

[constantlyabiding] If any of the banks gets too big in the council’s determination, they could be be regulated by the Federal Reserve, which can ask a bank to increase its reserve requirement—the money it has ‘saved up’ and is not using for lending or business costs.

 [constantlyabiding] Under Dodd-Frank, banks are also required to have plans for a quick and orderly shutdown in the event that the bank becomes insolvent—or runs out of money.

[constantlyabiding] He also reference the Volker Rule in his comments today…..

[constantlyabiding] The Volcker Rule is part of Dodd-Frank and prohibits banks from owning, investing, or sponsoring hedge funds, private equity funds, or any proprietary trading operations for their own profit.

[Iank1978] End to big to fail, end the fed

 [constantlyabiding] To help banks figure out which funds are for their profits and which funds are for customers, the Fed has given banks two years to divest their own funds in get in line with the rule before it’s enforced.

[constantlyabiding] However banks can keep any funds that are less than three percent of revenue.

 [constantlyabiding] The Volcker Rule does allow some trading when it’s necessary for the bank to run its business. For example, banks can engage in currency trading to offset their own holdings in a foreign currency.

[constantlyabiding] But the Volcker rule is not in place yet, and some of its rules are still being decided. It is scheduled to go into effect in July 2012. However, regulators say they might not have all the rules in place by then.

 [constantlyabiding] Ok.. so at the time this article came out not all the provisions were in place yet..

 [constantlyabiding] fast forward to 2013….

[abbababy] constantlyabiding Sounds like Jack Lew was talking Basil III without out right stating it. Unless you are involved in dinar some won’t know what he is talking about. But we do. TY for the input. CNBC cut him off & I did not get to hear the entire speech. Guess I was on the wrong station.

 [constantlyabiding] abbababy Good point..

[constantlyabiding] Bloomburgs comments on his remarks this morning…

[constantlyabiding] From Bloomburg: U.S. Treasury Secretary Jacob J. Lew said he is “stepping on the accelerator” to implement the Dodd-Frank Act and warned lawmakers against trying to change the financial rules overhaul.

constantlyabiding] “Members of Congress who want to alter financial reform before it is fully in place should carefully consider implementation efforts that are approaching completion,” Lew said in remarks prepared for the CNBC Institutional Investor Delivering Alpha Conference in New York today.

[SALTYDOG]  Here is the link to his speech    http://video.cnbc.com/gallery/?play=1&video=3000183620

[constantlyabiding] Lew also warned Congress against depriving financial regulators of funds they need “to meet the significant new responsibilities with which we have charged them.” The cost of good regulation “is tiny compared to the enormous cost of failure,” he said

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KTFA:

DELTA » July 17th, 2013, 5:04 am  • 

URGENT FROM IRAQIA TV:

CBI RECEIVED A LETTER FROM THE WORLD BANK COMMENDS THE REPORT ISSUED BY THE

INTERNATIONAL AUDITING COMPANY.

FAMILY: AUDITING IS DONE .. THE WORLD BANK IS HAPPY FROM THE REPORT

NOW SHOW ME THE TRUE RATE CBI.

DELTA

17/07/2013 13:58  World Bank praises the draft reform of the banking sector and financial control of Iraq’s banks.

Baghdad (news) .. Central Bank of Iraq, the World Bank praised the draft reform of the banking sector in Iraq. , the bank said in a statement received by the Agency (news) copy of it: that the bank received a letter from the World Bank praises the report issued by the auditing firm of international financial statements final draft reform Iraq’s banking sector. added: that the report was devoid of any observations or reservations and this report reflects the good efforts made ​​by the management of the Central Bank of Iraq in this area. / End / b. PVC /

http://www.ikhnews.com/index.php?page=article&id=92753

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Nesara BlogSpot Dinar Update: John MacHaffie    

http://www.nesaranews.blogspot.com/

RV/PP/REPUBLIC INTEL

Rumor – HIGH ANTICIPATION for public exchanging today.

Rumor – Jack Leu may be making an announcement about the RV this morning.

Rumor – Exchanges ARE ongoing in Reno

Confirmed – The International RV appeared on the Iraq Stock Exchange for 2 hrs. Trades were international in nature.

Confirmed – Tuesday ‘suppose’ to be the date for the RV/EXCHANGE. Private exchanges perhaps but no public exchanging yet

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MIG:

BOBGETZ6] It is now time to say a few things. As we get closer to this event ending, there is a lot of confusion and a lot of deception. I would suggest that you use the old adage, “FOLLOW THE MONEY.”

[BOBGETZ6] There are people out there that will try and are trying to get dinarians to pull away from where they originally planned to cash in. Let me ask you this, if someone asks you to put money up front, or to pay a fee for doing a currency exchange, would you really trust that? Would you think that just maybe, they are being backed by a financial group, and are preying on people’s naivety?

[BOBGETZ6] People have come out of the woodwork it seems, to try and disrupt the situation. Much of the information now flowing amongst the sites, is just wrong and in my opinion, just short of criminal. Some of the guru types, in my opinion, are being paid and backed by some dinar sales organizations, to excite the crowd with anticipated imminent revaluation. More sales equals more revenue.

 [BOBGETZ6] Another situation comes to mind in that a good friend of mine was quoted as saying two one hundred million dinar holders had just cashed out in Reno. First of all, this person would never have said that, and secondly, if someone had cashed out, they would have been under a non-disclosure agreement.

[BOBGETZ6] It is your money, you decide, but I felt compelled to inform those who might get caught up in the drama, or have not been around long enough to comprehend.

[harleyrider] BOBGETZ6 great points.

 [BOBGETZ6] And above all else, I could not post what I really think.

[novemberwhiskey] BOBGETZ6 the exchange procedure will be very simple… banks have wealth advisors who are there to guide customers in the right direction…if you do not like the people who are in place at a patpicular bank..go to another one..

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TNT:

sierramisty] JACK LEWS STATEMENTS!       http://blogs.marketwatch.com/thetell/2013/07/17/live-blog-jack-lew-john-paulson-headline-delivering-alpha-conference/?mod=MW_home_latest_news

7-16-2013 TD:   I heard from my Iraqi contact just moments ago. He says “any delay” is not any outside forces such as “technical difficulties” or China or UST, etc. etc. He said to me that really nothing has changed in that the entire currency reform program execution and it’s details lies with TURKI and his staff at the CBI. The Maliki administration again has expressed to everyone: Parliament, Economic Committee, etc. that TURKI has his entire support and it’s HIS BALL to play with.

I asked more about TURKI and was told he’s a very careful, calculated, brilliant individual who is probably feeling a lot of weight on his shoulders and wants to make NO MISTAKES here with this monumental task he’s been bestowed. I asked my contact his gut reaction about time frames and he said that he feels the last day of Ramadan would be a good guesstimation because it’s a climax celebration of Ramadan. Again he mentioned how with his personal interviews with TURKI and others that this will be a slow & long train ride of prosperity, with many stations to stop at. He said and I quote him “Don’t look for Iraq to emerge as an International Superstar Sensation OVERNIGHT.”

7-16-2013 Enorrste:   Article: “Financial representative (statement): rise of the dinar against the dollar to support purchasing power and increase development opportunities”

I am greatly encouraged by the continuing openness to talk about a rise in the value of the dinar from both parliament, government officials, and economists in the country. There is the old saying, “Where there is smoke, there will be fire!” Well, we are certainly seeing a lot of smoke! Keep your fingers crossed!

– Gold futures traded modestly higher in the early part of Wednesday’s Asian session as traders await congressional testimony later Wednesday from Federal Reserve Chairman Ben Bernanke.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rose 0. 17% to USD1,292. 55 per troy ounce in Asian trading Wednesday after settling up 0. 48% at USD1289. 65 a troy ounce during Tuesday’s U. S. session.
Gold futures were likely to find support at USD1,237. 05 a troy ounce, the low from July 8 and near-term resistance at USD1,301. 75, the high from June 21.
Gold got a lift thanks to a pair of U. S. data points. In U. S. economic news out Tuesday, the National Association of Home Builders/Wells Fargo housing-market index rose to 57 in July from 51 in June. The July reading is the highest since January 2006.
The Labor Department said U. S. consumer price inflation rose 0. 5% in June following a 0. 1% rise in May. Economists expected a 0. 3% June increase. Core CPI increased at annualized rate of 1. 6% last month, in line with forecasts and slowing from 1. 7% in May.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The Fed is aiming to keep inflation around 2% or less. Industrial production rose 0. 3% in June, the biggest increase in four months.
Traders will now turn their attention to Wednesday’s testimony from Bernanke after the Fed chief ignited a rally in gold last week when he said tapering of the central bank’s USD85 billion a month quantitative easing program is not as imminent as some investors previously expected.
Despite Bernanke’s supportive comments and the ensuing positive price action in gold, gold futures have traded below their 200-day moving average for five straight months and investors continue to pull cash from gold exchange traded products.
Elsewhere, Comex silver for September delivery inched up 0. 09% to USD19. 953 while copper for September delivery fell 0. 09% to USD3. 177 per – 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.

– The U. S. dollar soared against its major rivals during Wednesday’s Asian in what may be a sign that traders are betting Federal Reserve Chairman Ben Bernanke will make comments that boost the greenback when he delivers congressional testimony later Wednesday.
In Asian trading Wednesday, EUR/USD dropped 0. 17% to 1. 3141 after the ZEW index of economic sentiment in Germany deteriorated unexpectedly in July. The ZEW Centre for Economic Research said that its index of German economic sentiment fell to 36. 3 in the current month from 38. 5 in June. Analysts had expected a reading of 39. 6.
Elsewhere, official data showed that consumer price inflation in the euro zone held steady at a seasonally adjusted 1. 6% in June, unchanged from an initial estimate and in line with expectations. A separate report showed that euro zone exports fell 2. 3% in June from April, while imports declined 2. 2%. The currency bloc posted a trade surplus of EUR14. 6 billion from EUR15. 2 billion in April.
GBP/USD slid 0. 29% to 1. 5155 after the Office for National Statistics said U. K. consumer price inflation rose 2. 9% from a year earlier in June, coming in below expectations for a 3. 0% increase and up from 2. 7% in May.
The ONS said the increase in annual inflation was driven by higher prices for fuel, clothing and footwear. Consumer inflation fell 0. 2% on the month, compared to expectations for a 0. 1% decline.
USD/JPY jumped 0. 27% to 99. 38. USD/CHF advanced 0. 27% to 0. 9417 while USD/CAD rose 0. 24% to 1. 0394 as oil prices traded slightly lower.
In U. S. economic news out Tuesday, the National Association of Home Builders/Wells Fargo housing-market index rose to 57 in July from 51 in June. The July reading is the highest since January 2006.
The Labor Department said U. S. consumer price inflation rose 0. 5% in June following a 0. 1% rise in May. Economists expected a 0. 3% June increase. Core CPI increased at annualized rate of 1. 6% last month, in line with forecasts and slowing from 1. 7% in May.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The Fed is aiming to keep inflation around 2% or less. Industrial production rose 0. 3% in June, the biggest increase in four months.
AUD/USD slid 0. 30% to 0. 9226 a day after minutes from the Reserve Bank of Australia’s latest policy meeting showed that policymakers believe the current stance of the bank’s policy to be appropriate.
NZD/USD fell 0. 22% to 0. 7879 while the U. S. Dollar Index added 0. 20% to – 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.

– The Australian dollar traded lower against its U. S. counterpart during Wednesday’s Asian session as traders took profits in the Aussie after the after the currency was lifted by central bank meeting minutes.
In Asian trading Wednesday, AUD/USD fell 0. 32% to 0. 9224. The pair was likely to find support at 0. 9036, Monday’s low and resistance at 0. 9306, the high of July 11.
The Aussie got a lift Tuesday after the Reserve Bank of Australia said in minutes from its latest policy meeting showed that policymakers believe the current stance of the bank’s policy to be appropriate, sending the Aussie higher.
The RBA also said the inflation outlook was “slightly higher” due to the Aussie’s recent drop.
Meanwhile, investors were awaiting Federal Reserve Chairman Bernanke’s testimony on monetary policy amid speculation over the timing of a possible reduction to the bank’s USD85 billion-a-month bond buying program.
The greenback fell sharply last week after Bernanke said the U. S. economy still needed monetary stimulus.
Wednesday’s action in U. S. dollar-related pairs could be a sign that traders are expecting Bernanke will change his tune from last week and make comments that boost the greenback. The U. S. Dollar Index is up 0. 21% at 82. 80 at this writing.
In U. S. economic news out Tuesday, the National Association of Home Builders/Wells Fargo housing-market index rose to 57 in July from 51 in June. The July reading is the highest since January 2006.
The Labor Department said U. S. consumer price inflation rose 0. 5% in June following a 0. 1% rise in May. Economists expected a 0. 3% June increase. Core CPI increased at annualized rate of 1. 6% last month, in line with forecasts and slowing from 1. 7% in May.
Meanwhile, AUD/JPY rose 0. 11% to 91. 80 while AUD/NZD fell 0. 10% to – 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.

– The Australian dollar traded lower against its U. S. counterpart during Wednesday’s Asian session as traders took profits in the Aussie after the after the currency was lifted by central bank meeting minutes.
In Asian trading Wednesday, AUD/USD fell 0. 32% to 0. 9224. The pair was likely to find support at 0. 9036, Monday’s low and resistance at 0. 9306, the high of July 11.
The Aussie got a lift Tuesday after the Reserve Bank of Australia said in minutes from its latest policy meeting showed that policymakers believe the current stance of the bank’s policy to be appropriate, sending the Aussie higher.
The RBA also said the inflation outlook was “slightly higher” due to the Aussie’s recent drop.
Meanwhile, investors were awaiting Federal Reserve Chairman Bernanke’s testimony on monetary policy amid speculation over the timing of a possible reduction to the bank’s USD85 billion-a-month bond buying program.
The greenback fell sharply last week after Bernanke said the U. S. economy still needed monetary stimulus.
Wednesday’s action in U. S. dollar-related pairs could be a sign that traders are expecting Bernanke will change his tune from last week and make comments that boost the greenback. The U. S. Dollar Index is up 0. 21% at 82. 80 at this writing.
In U. S. economic news out Tuesday, the National Association of Home Builders/Wells Fargo housing-market index rose to 57 in July from 51 in June. The July reading is the highest since January 2006.
The Labor Department said U. S. consumer price inflation rose 0. 5% in June following a 0. 1% rise in May. Economists expected a 0. 3% June increase. Core CPI increased at annualized rate of 1. 6% last month, in line with forecasts and slowing from 1. 7% in May.
Meanwhile, AUD/JPY rose 0. 11% to 91. 80 while AUD/NZD fell 0. 10% to – 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.

– Health care conglomerate Johnson Johnson reported better-than-expected second quarter earnings on the back of strong revenue figures, it announced early Tuesday.
Earlier in the day, in its second quarter earnings report, JJ said earnings per share came in at USD1. 48, beating expectations for earnings of USD1. 39 per share.
The company’s second quarter revenue totaled USD17. 88 billion, above expectations for revenue of USD17. 7 billion.
The strong earnings prompted the firm to raise its full-year earnings outlook. JJ now sees full year earnings per share to come in at a range between USD5. 40 and USD5. 47, compared to a previous estimate in the range of USD5. 35 and USD5. 45 per share.
Immediately after the earnings announcement, Johnson Johnson shares rose 0. 8% in trading prior to the opening bell.
Meanwhile, the outlook for U. S. equity markets steady. The Dow Jones Industrial Average futures pointed to a flat open, SP 500 futures were little changed, while the Nasdaq 100 futures indicated a gain of 0. 1% at the – 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.

– Consumer price inflation in the U. S. rose more-than-expected in June, while prices excluding food and energy costs inched up modestly, official data showed on Tuesday.
In a report, the Bureau of Labor Statistics said that consumer prices rose by a seasonally adjusted 0. 5% in June, compared to expectations for a 0. 3% increase, after rising by 0. 1% in May.
Year-over-year, consumer prices rose at an annualized rate of 1. 8% last month, above expectations for a 1. 7% gain and up from 1. 4% in May.
Consumer prices, excluding food and energy costs, rose 0. 2% in June, matching expectations. Core consumer prices inched up 0. 2% in May.
Core CPI increased at annualized rate of 1. 6% last month, in line with forecasts and slowing from 1. 7% in May.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U. S. dollar held on to losses against the euro, with EUR/USD rising 0. 35% to trade at 1. 3108.
Meanwhile, U. S. stock future indices pointed to a flat open. The Dow Jones Industrial Average futures was little changed, SP 500 futures pointed to a loss of 0. 1%, while the Nasdaq 100 futures pointed to an increase of 0. 1% at the – 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.

{Arbil: Euphrates News}
And approved by the President of Kurdistan, Massoud Barzani, to extend the presidency of the province.
The Office of the Patriotic Union of Kurdistan (PUK) in Newsflash that “Barzani has agreed to extend the period of the presidency of the Kurdistan region. ”
Today announced that Barzani will deliver later today an important speech on the extension of the mandate.
Barzani was confirmed in response to a question and part of his {Euphrates News} at a press conference during his visit to Baghdad that he “will show the official position of the extension of its mandate over the next few days and raised them in terms of their constitutionality. ”
The Kurdistan parliament has ratified last week to extend his term until the first of the month of November next presidency of the province for two years.
This decision comes at a time when stresses Kurdish opposition parties that he has no right to Barzani his candidacy to head the third because it was illegal.
The MP for the mass change and a nice Mustafa pointed out that the opposition parties pending Barzani’s position so that it can determine its position, noting that these parties held consultative meetings continue. Ended