BACKDOC » January 30th, 2017
THESE ARE MY OWN THOUGHTS AND OPINIONS:
WELL THUNDER, THE BALL IS ROLLING AS WE THOUGHT! (see article below)
IRANS' DECISION WILL CERTAINLY BE DIFFICULT FOR THEM AS WE TALKED BECAUSE THEIR ONLY ALTERNATIVE OPTION IS TO USE THE SDR ,BECAUSE IT WILL BE PEGGED TO OIL THE UNIVERSAL CURRENCY!
NOW THAT IRAN IS BEGINNING TO MOVE IN THIS FIRST QUARTER THERE WILL BE MANY MORE SHOES TO DROP!
REMEMBER, WE ARE LOOKING FOR EVERYONE TO DROP THE OLD DOLLAR COIN INCLUDING SAUDI ARABIA!
THIS WILL EVENTUALLY COMPLETE THE SEPARATION OF THE OLD DOLLAR COIN AND ITS RELATIONSHIP TO BLACK GOLD!
WE LOOK FOR THE UNIVERSAL CURRENCY, BLACK GOLD TO PEG TO THE SDR BASKET WHICH WILL BECOME THE ONE WORLD CURRENCY WHEN PRINTED IN THE FORM OR THE BANCOR AS THE IMF HAS SAID! UNFORTUNATELY FOR IRAN ITS NOT YET!
FOR NOW IMO, THE NEW DOLLAR WILL STILL BE THE REFERENCE OF VALUE!
FROM THE TIME THE U.S. LEFT THE GOLD STANDARD, THE DOLLAR HAS BECOME THE REFERENCE OF VALUE GLOBALLY!
THUNDER, THIS IS WHY THE NEW DOLLAR WILL HAVE TO BE RELEASED PRIOR TO ANY OTHER ASSET-BACKED DIGITAL CURRENCY IMO!
THE NEW DOLLAR WILL DETERMINE THE VALUE OF EVERY OTHER CURRENCY IN THE WORLD BECAUSE IT IS THE REFERENCE OF VALUE! WE SHOULD SEE MORE EVIDENCE ON THIS VERY SOON!
8@8, DOC THESE ARE MY OWN THOUGHTS AND OPINIONS AND NOT THE VIEWS ON THIS SITE NECESSARILY
Thunderhawk » January 30th, 2017
WELL THUNDER, THE BALL IS ROLLING AS WE THOUGHT! (see article below)
IRANS' DECISION WILL CERTAINLY BE DIFFICULT FOR THEM AS WE TALKED BECAUSE THEIR ONLY ALTERNATIVE OPTION IS TO USE THE SDR ,BECAUSE IT WILL BE PEGGED TO OIL THE UNIVERSAL CURRENCY!
NOW THAT IRAN IS BEGINNING TO MOVE IN THIS FIRST QUARTER THERE WILL BE MANY MORE SHOES TO DROP!
REMEMBER, WE ARE LOOKING FOR EVERYONE TO DROP THE OLD DOLLAR COIN INCLUDING SAUDI ARABIA!
THIS WILL EVENTUALLY COMPLETE THE SEPARATION OF THE OLD DOLLAR COIN AND ITS RELATIONSHIP TO BLACK GOLD!
WE LOOK FOR THE UNIVERSAL CURRENCY, BLACK GOLD TO PEG TO THE SDR BASKET WHICH WILL BECOME THE ONE WORLD CURRENCY WHEN PRINTED IN THE FORM OR THE BANCOR AS THE IMF HAS SAID! UNFORTUNATELY FOR IRAN ITS NOT YET!
FOR NOW IMO, THE NEW DOLLAR WILL STILL BE THE REFERENCE OF VALUE!
FROM THE TIME THE U.S. LEFT THE GOLD STANDARD, THE DOLLAR HAS BECOME THE REFERENCE OF VALUE GLOBALLY!
THUNDER, THIS IS WHY THE NEW DOLLAR WILL HAVE TO BE RELEASED PRIOR TO ANY OTHER ASSET-BACKED DIGITAL CURRENCY IMO!
THE NEW DOLLAR WILL DETERMINE THE VALUE OF EVERY OTHER CURRENCY IN THE WORLD BECAUSE IT IS THE REFERENCE OF VALUE! WE SHOULD SEE MORE EVIDENCE ON THIS VERY SOON!
8@8, DOC THESE ARE MY OWN THOUGHTS AND OPINIONS AND NOT THE VIEWS ON THIS SITE NECESSARILY
Thunderhawk » January 30th, 2017
HERE WE GO - Just like we've been telling you since last year.....
BINGO - GOOD BYE YOU OLD DOLLAR COIN BLESSINGS ThunderHawk
Iran To Ditch The Dollar In Wake Of Trump's 'Muslim Ban'
Dominic Dudley, Contributor/Jan 30, 2017
The Iranian government is to stop using the US dollar in its official statements, according to a report in the local English-language daily the Financial Tribune.
The decision was announced by Central Bank of Iran governor Valiollah Seif during a television interview on the evening of January 29 and, according to the paper, is due to take effect from the start of the new fiscal year on 21 March. It will affect all official financial and foreign exchange reports.
The move is significant in the light of the recent ‘Muslim ban’ by US President Donald Trump, which prevents anyone from Iran and six other Muslim-majority countries from entering the US. The Iranian government has vowed to take “reciprocal measures” and has said it will stop issuing visas to US citizens.
Some exceptions to this may be made though. Iran’s Ministry of Foreign Affairs has said that it has yet to decide on whether to allow a US freestyle wrestling team into the country. The team is due to compete in the Wrestling World Cup in Kermanshah province in mid-February.
While the White House has said the order to bar Iranians and others was made to tackle the threat of terrorism, it is notable that since 1975 no Americans have been killed in terrorist attacks in the US by the citizens of the countries included in the ban. It has also been widely noted that Trump’s business empire does not extend to the seven targeted countries but others where he does have business interests have not been included in the order, even though their citizens have been involved in terrorist outrages in the US.
The governor of the Central Bank of Iran Valiollah Seif (R) talks with the head of the Iranian Atomic Energy Organisation Ali Akbar Salehi, ahead of a press conference in Tehran in January 2016 after international sanctions on Iran were lifted (Photo: ATTA KENARE/AFP/Getty Images)
As a result of years of sanctions imposed by a succession of US administrations, Iran has very little trade with the US. Its most important trading partner is the UAE, which accounts for around 24% of all Iranian imports and exports. China is not far behind with 22%, followed by Turkey, India and the EU, all of which account for around 6% of Iran’s trade.
This leaves open the question of what Iran will use to replace the dollar. Seif said in the television interview that “we have to set a currency as the basis of financial reporting that has better stability and greater application in our foreign trade,” according to the Financial Tribune.
He added that Iran has the option of “selecting a basket of currencies or choosing the currency that plays the biggest part in foreign trade”. That suggests that the euro could be a logical alternative for the dollar.
However, the decision to drop the dollar could prove to be complicated for Iran, given that its most important export is oil which is priced in dollars. The country is on course to earn $41bn from oil sales this fiscal year. Switching its reporting to another currency will add a degree of currency risk and volatility and is likely to complicate matters for the authorities. At this stage, however, it is not clear how they will deal with this issue.
https://flipboard.com/@flipboard/flip.it%2FIUN1ih-iran-to-ditch-the-dollar-in-wake-of-tru/f-f723060cb2%2Fforbes.com
Thunderhawk » January 30th, 2017
BINGO - GOOD BYE YOU OLD DOLLAR COIN BLESSINGS ThunderHawk
Iran To Ditch The Dollar In Wake Of Trump's 'Muslim Ban'
Dominic Dudley, Contributor/Jan 30, 2017
The Iranian government is to stop using the US dollar in its official statements, according to a report in the local English-language daily the Financial Tribune.
The decision was announced by Central Bank of Iran governor Valiollah Seif during a television interview on the evening of January 29 and, according to the paper, is due to take effect from the start of the new fiscal year on 21 March. It will affect all official financial and foreign exchange reports.
The move is significant in the light of the recent ‘Muslim ban’ by US President Donald Trump, which prevents anyone from Iran and six other Muslim-majority countries from entering the US. The Iranian government has vowed to take “reciprocal measures” and has said it will stop issuing visas to US citizens.
Some exceptions to this may be made though. Iran’s Ministry of Foreign Affairs has said that it has yet to decide on whether to allow a US freestyle wrestling team into the country. The team is due to compete in the Wrestling World Cup in Kermanshah province in mid-February.
While the White House has said the order to bar Iranians and others was made to tackle the threat of terrorism, it is notable that since 1975 no Americans have been killed in terrorist attacks in the US by the citizens of the countries included in the ban. It has also been widely noted that Trump’s business empire does not extend to the seven targeted countries but others where he does have business interests have not been included in the order, even though their citizens have been involved in terrorist outrages in the US.
The governor of the Central Bank of Iran Valiollah Seif (R) talks with the head of the Iranian Atomic Energy Organisation Ali Akbar Salehi, ahead of a press conference in Tehran in January 2016 after international sanctions on Iran were lifted (Photo: ATTA KENARE/AFP/Getty Images)
As a result of years of sanctions imposed by a succession of US administrations, Iran has very little trade with the US. Its most important trading partner is the UAE, which accounts for around 24% of all Iranian imports and exports. China is not far behind with 22%, followed by Turkey, India and the EU, all of which account for around 6% of Iran’s trade.
This leaves open the question of what Iran will use to replace the dollar. Seif said in the television interview that “we have to set a currency as the basis of financial reporting that has better stability and greater application in our foreign trade,” according to the Financial Tribune.
He added that Iran has the option of “selecting a basket of currencies or choosing the currency that plays the biggest part in foreign trade”. That suggests that the euro could be a logical alternative for the dollar.
However, the decision to drop the dollar could prove to be complicated for Iran, given that its most important export is oil which is priced in dollars. The country is on course to earn $41bn from oil sales this fiscal year. Switching its reporting to another currency will add a degree of currency risk and volatility and is likely to complicate matters for the authorities. At this stage, however, it is not clear how they will deal with this issue.
https://flipboard.com/@flipboard/flip.it%2FIUN1ih-iran-to-ditch-the-dollar-in-wake-of-tru/f-f723060cb2%2Fforbes.com
Thunderhawk » January 30th, 2017
FUNNY HOW RECENTLY THE PRESIDENT OF THE AIIB STATED PUBLICLY IT WILL KEEP THE DOOR OPEN FOR THE UNITED STATES TO JOIN. MMMMM The last paragraph below tells me we just may use it... IMAGINE IF THEY DID
BACKDOC » January 30th, 2017
BACKDOC » January 30th, 2017
THUNDER, WE REALIZE THAT INDIA REDUCED THEIR NOTE COUNT BY 86% BY ELIMINATING THEIR 1000 AND THE 500 NOTES! ALTHOUGH THIS HAS BEEN PAINFUL FOR THEIR ECONOMY IT HAS HELPED THE COUNTRY BE ABLE TO ENTER THE NEW REALITY!
SINCE INDIA WAS LARGELY A CASH ECONOMY THEY COULD DO THIS VERY QUICKLY AS THEY HAVE DONE AND BEGIN TO ENCOURAGE ELECTRONIC CASH !
WE ARE SEEING MANY COUNTRIES PREPARING TO MAKE THEIR MOVES INTO THE NEW REALITY THIS QUARTER BUT THEY ALL HINGE ON THE TIMING OF THE NEW DOLLAR IN MY OPINION! 8@8, DOC IMO
Trumponomics: Rupee better placed than other EM currencies
MUMBAI: The rupee is seen to be better placed compared with other emerging market currencies as the Indian economy is less vulnerable to protectionist policies expected from US President Donald Trump.
After Trump's election victory, the rupee has outperformed several emerging market currencies.
"The rupee continues to be a better performing currency and is at or above the median level of change in a set of 17 currencies. We believe that the rupee will be driven more by fundamentals than an external US shock. US policies are more likely to affect countries like Mexico and China, which may be expected in the next six months," said Madan Sabnavis, chief economist, CARE.
On Friday, the rupee recovered from the red to end marginally higher at 68.04 against the dollar, up from the day's low of 68.23 and marginally stronger than Wednesday's close of 68.08. Forex dealers said increased demand for the dollar kept pressure on the rupee, but a higher opening in the domestic equity market helped the currency recover.
According to Sabnavis, if currency movement during the fiscal is viewed separately for the period before US elections and after, the rupee has fared well in both. "It was at the median of 17 countries up to November and was above the median level subsequently," he added.
Half the currencies had declined by more than 5% in the first period. The renminbi was also affected and fell by over 5% up to November. However, it declined moderately by over 0.7% subsequently . The ruble, real, Taiwan and Hong Kong dollars were best performing with appreciation witnessed in both the periods.
Future movement will be driven more by fundamentals in the balance of payments rather than this external influence. Also, the Mexican peso in particular will be affected the most as of now, while the renminbi will be under pressure depending on the policy actions taken by the US with regards to Chinese trade and investment. According to a report by Nomura, emerging markets are generally starting from a weak position to fend off `Trumponomics'.
The report says that India is among the few emerging markets that could gain. "President Trump's warmer tone towards Russia has increased expectations that sanctions may be lifted or relaxed, but we do not expect it to happen this year. India too could benefit as President Trump seems to believe that a nuclear India is the real check to Pakistan," the report said.The only negative for India would be the immigration curbs that could hurt the IT industry.
"Of the 23 emerging markets, there are only four in our leaders camp -India, Indonesia, Philippines and Peru -while there are 12 laggards and seven in the middle," the report said. The leaders are the markets that are expected to perform better.
According to a Nomura survey , 67% of respondents believe it is either extremely or somewhat likely that the US will impose targeted tariffs on China. Mexico is singled out as the most exposed. "Over time, we believe US trade protectionism could be strongest against Asia. Although the US trade deficit with China dwarfs that of Mexico, China also masks Asia's massive supply chain," the report said.
http://economictimes.indiatimes.com/articleshow/56867787.cms?from=mdr
Thunderhawk » January 30th, 2017
SINCE INDIA WAS LARGELY A CASH ECONOMY THEY COULD DO THIS VERY QUICKLY AS THEY HAVE DONE AND BEGIN TO ENCOURAGE ELECTRONIC CASH !
WE ARE SEEING MANY COUNTRIES PREPARING TO MAKE THEIR MOVES INTO THE NEW REALITY THIS QUARTER BUT THEY ALL HINGE ON THE TIMING OF THE NEW DOLLAR IN MY OPINION! 8@8, DOC IMO
Trumponomics: Rupee better placed than other EM currencies
MUMBAI: The rupee is seen to be better placed compared with other emerging market currencies as the Indian economy is less vulnerable to protectionist policies expected from US President Donald Trump.
After Trump's election victory, the rupee has outperformed several emerging market currencies.
"The rupee continues to be a better performing currency and is at or above the median level of change in a set of 17 currencies. We believe that the rupee will be driven more by fundamentals than an external US shock. US policies are more likely to affect countries like Mexico and China, which may be expected in the next six months," said Madan Sabnavis, chief economist, CARE.
On Friday, the rupee recovered from the red to end marginally higher at 68.04 against the dollar, up from the day's low of 68.23 and marginally stronger than Wednesday's close of 68.08. Forex dealers said increased demand for the dollar kept pressure on the rupee, but a higher opening in the domestic equity market helped the currency recover.
According to Sabnavis, if currency movement during the fiscal is viewed separately for the period before US elections and after, the rupee has fared well in both. "It was at the median of 17 countries up to November and was above the median level subsequently," he added.
Half the currencies had declined by more than 5% in the first period. The renminbi was also affected and fell by over 5% up to November. However, it declined moderately by over 0.7% subsequently . The ruble, real, Taiwan and Hong Kong dollars were best performing with appreciation witnessed in both the periods.
Future movement will be driven more by fundamentals in the balance of payments rather than this external influence. Also, the Mexican peso in particular will be affected the most as of now, while the renminbi will be under pressure depending on the policy actions taken by the US with regards to Chinese trade and investment. According to a report by Nomura, emerging markets are generally starting from a weak position to fend off `Trumponomics'.
The report says that India is among the few emerging markets that could gain. "President Trump's warmer tone towards Russia has increased expectations that sanctions may be lifted or relaxed, but we do not expect it to happen this year. India too could benefit as President Trump seems to believe that a nuclear India is the real check to Pakistan," the report said.The only negative for India would be the immigration curbs that could hurt the IT industry.
"Of the 23 emerging markets, there are only four in our leaders camp -India, Indonesia, Philippines and Peru -while there are 12 laggards and seven in the middle," the report said. The leaders are the markets that are expected to perform better.
According to a Nomura survey , 67% of respondents believe it is either extremely or somewhat likely that the US will impose targeted tariffs on China. Mexico is singled out as the most exposed. "Over time, we believe US trade protectionism could be strongest against Asia. Although the US trade deficit with China dwarfs that of Mexico, China also masks Asia's massive supply chain," the report said.
http://economictimes.indiatimes.com/articleshow/56867787.cms?from=mdr
Thunderhawk » January 30th, 2017
FROM THE FIRST ARTICLE I BROUGHT YOU ON BLOCKCHAIN
TO THIS. THE LIST JUST KEEPS ON GROWING...TH OUT
Thailand prepares for blockchain
Blockchain technology is headed for widespread adoption in Thailand within two years, necessitating legal amendments to support its use, say academics and technology experts. Blockchain underlies Bitcoin and other cryptocurrencies. The blockchain format is a decentralised ledger system that requires “decentralised approval” from the nodes and participants in the system, as opposed to the current mechanism in which “centralised approval” (such as from a bank) is required.
“The adoption of blockchain technology is expected to be widely seen here by 2018, thanks to its capability of transferring valued assets with trustworthiness, transparency and security,” said Bhume Bhumiratana, a blockchain specialist. Globally, the three sectors that have seriously adopted blockchain technology are finance, healthcare and government. Thailand lags behind global peers but is still a leader in Asean in the use of the technology.
Blockchain might be complicated to understand but it is not expensive to implement, said Mr Bhume, adding it requires programming skills but costs less in terms of systems maintenance. This will encourage many businesses to adopt blockchain technology very fast, depending on different business objectives and models, he said. Dhiraphol Suwanprateep, a partner at the law firm Baker McKenzie Thailand, said many existing laws lack supporting regulations to work in parallel with blockchain.
“Policymakers need to understand this technology and consider relevant regulations before adopting it,” he said. Currently, the Electronic Transactions Development Agency is in the process of amending the Electronic Transaction Act 2001 to support the use of smart contracts via the adoption of blockchain….more detail
https://www.aseanbreakingnews.com/2017/01/thailand-prepares-for-blockchain/
BACKDOC » January 30th, 2017
TO THIS. THE LIST JUST KEEPS ON GROWING...TH OUT
Thailand prepares for blockchain
Blockchain technology is headed for widespread adoption in Thailand within two years, necessitating legal amendments to support its use, say academics and technology experts. Blockchain underlies Bitcoin and other cryptocurrencies. The blockchain format is a decentralised ledger system that requires “decentralised approval” from the nodes and participants in the system, as opposed to the current mechanism in which “centralised approval” (such as from a bank) is required.
“The adoption of blockchain technology is expected to be widely seen here by 2018, thanks to its capability of transferring valued assets with trustworthiness, transparency and security,” said Bhume Bhumiratana, a blockchain specialist. Globally, the three sectors that have seriously adopted blockchain technology are finance, healthcare and government. Thailand lags behind global peers but is still a leader in Asean in the use of the technology.
Blockchain might be complicated to understand but it is not expensive to implement, said Mr Bhume, adding it requires programming skills but costs less in terms of systems maintenance. This will encourage many businesses to adopt blockchain technology very fast, depending on different business objectives and models, he said. Dhiraphol Suwanprateep, a partner at the law firm Baker McKenzie Thailand, said many existing laws lack supporting regulations to work in parallel with blockchain.
“Policymakers need to understand this technology and consider relevant regulations before adopting it,” he said. Currently, the Electronic Transactions Development Agency is in the process of amending the Electronic Transaction Act 2001 to support the use of smart contracts via the adoption of blockchain….more detail
https://www.aseanbreakingnews.com/2017/01/thailand-prepares-for-blockchain/
BACKDOC » January 30th, 2017
GREAT JOB W.S.! WE CONTINUE TO SEE MOVEMENT TO THE NEW REALITY!
Walkingstick » January 30th, 2017
Walkingstick » January 30th, 2017
IMF to Co-Host Blockchain Seminar Next Month
Published on January 30, 2017 at 14:30 GMT
The International Monetary Fund (IMF) and Dubai’s Ministry of Finance are to co-host a FinTech seminar focusing on blockchain and digital currencies next month
.
The mid-February event, announced today, will include notable speakers such as IMF managing director Christine Lagarde, Luxembourg minister of finance Pierre Gramegna, and Dubai minister of state for financial affairs Obaid Humaid Al Tayer.
Dubai’s government is already working on blockchain-based systems for use in government services, including as a backup record for official documentation. It has also backed a collaborative initiative aimed at promoting work between startups, government agencies and local businesses.
Some of these concepts are likely to be on display at the Dubai seminar next month.
Al Tayer said in a statement:
“The seminar will cover a number of important topics including virtual currencies, and the underlying distributed ledgers through [blockchain] technology. These topics have been at the centre of recent debates about how digital innovation changes financial fields.”
The event coincides with the conclusion of the UAE’s government-backed blockchain hackathon, organized by AngelHack and supported on the technical side by ethereum startup ConsenSys. The winners of the hackathon will be announced during the summit.
http://www.coindesk.com/imf-to-co-host-blockchain-seminar-next-month/
Published on January 30, 2017 at 14:30 GMT
The International Monetary Fund (IMF) and Dubai’s Ministry of Finance are to co-host a FinTech seminar focusing on blockchain and digital currencies next month
.
The mid-February event, announced today, will include notable speakers such as IMF managing director Christine Lagarde, Luxembourg minister of finance Pierre Gramegna, and Dubai minister of state for financial affairs Obaid Humaid Al Tayer.
Dubai’s government is already working on blockchain-based systems for use in government services, including as a backup record for official documentation. It has also backed a collaborative initiative aimed at promoting work between startups, government agencies and local businesses.
Some of these concepts are likely to be on display at the Dubai seminar next month.
Al Tayer said in a statement:
“The seminar will cover a number of important topics including virtual currencies, and the underlying distributed ledgers through [blockchain] technology. These topics have been at the centre of recent debates about how digital innovation changes financial fields.”
The event coincides with the conclusion of the UAE’s government-backed blockchain hackathon, organized by AngelHack and supported on the technical side by ethereum startup ConsenSys. The winners of the hackathon will be announced during the summit.
http://www.coindesk.com/imf-to-co-host-blockchain-seminar-next-month/