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Thursday, May 31, 2012
May 2010, Interesting Read .. SDR's ..etc ....
Interesting material .. happened to stumble upon the following pdf. while doing research for another project .. Kel ...
Link .. 2010 Iq ? 5 PP1
Netanyahu is also requesting flight codes from the US to fly over Iraq to strike ... to the BIS, the 0il cartel is shifting more of their currency reserves into ...
2010 Iq ? 5 PP1
China and Japan begin direct currency trading
June 01, 2012
China and Japan begin direct currency trading
China and Japan started direct currency trading on Friday as Beijing marked another stage on its journey to foster the yuan's use internationally in line with its growing economic clout.
Market participants can now swap Japanese yen for Chinese yuan without having to use the US dollar as an intermediary currency, making foreign trade settlement more convenient and cutting transaction costs.
The move comes as China, the world's second-largest economy just ahead of Japan, gradually moves to make the yuan freely convertible with an eye towards rivalling the mighty dollar, analysts said.
China maintains a tight grip on its currency, which is not convertible on the capital account, over fears that speculative flows could hurt its economy. That grip has long fostered trade tensions with the United States.
China and Japan begin direct currency trading
China and Japan started direct currency trading on Friday as Beijing marked another stage on its journey to foster the yuan's use internationally in line with its growing economic clout.
Market participants can now swap Japanese yen for Chinese yuan without having to use the US dollar as an intermediary currency, making foreign trade settlement more convenient and cutting transaction costs.
The move comes as China, the world's second-largest economy just ahead of Japan, gradually moves to make the yuan freely convertible with an eye towards rivalling the mighty dollar, analysts said.
China maintains a tight grip on its currency, which is not convertible on the capital account, over fears that speculative flows could hurt its economy. That grip has long fostered trade tensions with the United States.
Going Global Headline News For Thursday, May 31, 2012 ...
*Have You Seen China's Ghost Cities?
*Foreign Exchange Currency Fraud Alert
*NYC bank indicted on mortgage fraud charges ...
*Bank of America tries renting to distressed homeowners ...
*Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
*Iraq's Tariff and Customs Tax ~ Early June, 2012 ..(Step Towards WTO Accession) ...
**Iraq, Committee on economy: Central to implement project delete zeros ...
*Obama and George W. Bush, his wife Laura, his father and 41st president George Bush senior, Attend The White House Unveiling ... .. and .. President George W. Bush at the White House on Thursday
*Wall Street in biggest monthly loss since September
*The Good, Bad, And Ugly Of Emerging Markets ...
*Yuan finally set to emerge on a global scale with China hot on heels of US as world's second largest economy ...
*Sluggish US economy points to more jobless misery ...
*EU Preparing More Syria Sanctions
*Madonna Kicks Off Tour In Israel with a call for peace from a Tel Aviv stage
*Did Satan Fall to Earth Today May 31st 2012 before Madonna's Ritual?
*SpaceX's Dragon Splashdown @ 1444 GMT, May 31, 2012 ... #444 and Israel and Jerusalem ...
*Hashemi's Lawyers want President Talabani To Testify ...
*Iraq energy auction ends with 3 of 12 lots sold, tough contracts for unexplored areas blamed ...
*Iraq ~ House of Representatives reveals the exemption of food and clothing from tariff
*Iraq ~ Gigantic housing project inaugurated in Baghdad
*Iraq ~ Finance Committee await planning to distribute oil savings ...
*Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
*Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases
*Political Council and Jubouri accuse the Iraqi leadership forged signatures to withdraw confidence from the Maliki
*Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
*Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases
*Iraq ~ Advisor to the Central Bank reveals the formation of a committee to make a decision to delete the zeros of the dinar
*Foreign Exchange Currency Fraud Alert
*NYC bank indicted on mortgage fraud charges ...
*Bank of America tries renting to distressed homeowners ...
*Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
*Iraq's Tariff and Customs Tax ~ Early June, 2012 ..(Step Towards WTO Accession) ...
**Iraq, Committee on economy: Central to implement project delete zeros ...
*Obama and George W. Bush, his wife Laura, his father and 41st president George Bush senior, Attend The White House Unveiling ... .. and .. President George W. Bush at the White House on Thursday
*Wall Street in biggest monthly loss since September
*The Good, Bad, And Ugly Of Emerging Markets ...
*Yuan finally set to emerge on a global scale with China hot on heels of US as world's second largest economy ...
*Sluggish US economy points to more jobless misery ...
*EU Preparing More Syria Sanctions
*Madonna Kicks Off Tour In Israel with a call for peace from a Tel Aviv stage
*Did Satan Fall to Earth Today May 31st 2012 before Madonna's Ritual?
*SpaceX's Dragon Splashdown @ 1444 GMT, May 31, 2012 ... #444 and Israel and Jerusalem ...
*Hashemi's Lawyers want President Talabani To Testify ...
*Iraq energy auction ends with 3 of 12 lots sold, tough contracts for unexplored areas blamed ...
*Iraq ~ House of Representatives reveals the exemption of food and clothing from tariff
*Iraq ~ Gigantic housing project inaugurated in Baghdad
*Iraq ~ Finance Committee await planning to distribute oil savings ...
*Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
*Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases
*Political Council and Jubouri accuse the Iraqi leadership forged signatures to withdraw confidence from the Maliki
*Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
*Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases
*Iraq ~ Advisor to the Central Bank reveals the formation of a committee to make a decision to delete the zeros of the dinar
THE END GAME ...Raoul Pal .. The Scariest Presentation Ever?
May 31, 2012
By Tyler Durden
Zero Hedge
If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn't. The founder of Global Macro Investor "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes." It is his writing we are concerned about, and specifically his latest presentation, which is, for lack of a better word, the most disturbing and scary forecast of the future of the world we have ever seen....
And we see a lot of those.
Consider this: •We are here...
•We don’t know exactly what is to come, but we can all join the very few dots from where we are now, to the collapse of the first major bank…
•With very limited room for government bailouts, we can very easily join the next dots from the first bank closure to the collapse of the whole European banking system, and then to the bankruptcy of the governments themselves.
•There are almost no brakes in the system to stop this, and almost no one realises the seriousness of the situation.
•The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives…
•Yes, that equates to 1200% of Global GDP and it rests on very, very weak foundations
•From an EU crisis, we only have to join one dot for a UK crisis of equal magnitude.
•And then do you think Japan and China would not be next?
•And then do you think the US would survive unscathed?
•That is the end of the fractional reserve banking system and of fiat money.
•It is the big RESET.
It continues:
Read Full Article .. Scarey Presentation .. The End Game ... HERE
By Tyler Durden
Zero Hedge
If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn't. The founder of Global Macro Investor "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes." It is his writing we are concerned about, and specifically his latest presentation, which is, for lack of a better word, the most disturbing and scary forecast of the future of the world we have ever seen....
And we see a lot of those.
Consider this: •We are here...
•We don’t know exactly what is to come, but we can all join the very few dots from where we are now, to the collapse of the first major bank…•With very limited room for government bailouts, we can very easily join the next dots from the first bank closure to the collapse of the whole European banking system, and then to the bankruptcy of the governments themselves.
•There are almost no brakes in the system to stop this, and almost no one realises the seriousness of the situation.
•The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives…
•Yes, that equates to 1200% of Global GDP and it rests on very, very weak foundations
•From an EU crisis, we only have to join one dot for a UK crisis of equal magnitude.
•And then do you think Japan and China would not be next?
•And then do you think the US would survive unscathed?
•That is the end of the fractional reserve banking system and of fiat money.
•It is the big RESET.
It continues:
Read Full Article .. Scarey Presentation .. The End Game ... HERE
Bill Clinton predicts strong Obama victory ...
May 31, 2012
Bill Clinton predicts strong Obama victory
Former US president Bill Clinton said he thought that fellow Democrat Barack Obama would be easily re-elected to the White House, even though polls currently show a close race.
"I still think the president will win by five or six points," Clinton told CNN, in an interview with movie producer Harvey Weinstein.
Obama faces presumptive Republican nominee Mitt Romney in the November 6 election.
Romney has surged ahead of Obama in the southern battleground state of Florida, holding a 47-41 percent lead, according to a recent Quinnipiac University Polling Institute.
However Obama and Romney are even in a number of nationwide polls.
At this point polls show support for the two men closer than it will be in November, Clinton said, due to continued stress on the US economy.
But if Obama's supporters hit the trail and tout his achievements as president, Clinton said he was confident "he'll be fine and he'll be re-elected."
source
Bill Clinton predicts strong Obama victory
Former US president Bill Clinton said he thought that fellow Democrat Barack Obama would be easily re-elected to the White House, even though polls currently show a close race.
"I still think the president will win by five or six points," Clinton told CNN, in an interview with movie producer Harvey Weinstein.
Obama faces presumptive Republican nominee Mitt Romney in the November 6 election.
Romney has surged ahead of Obama in the southern battleground state of Florida, holding a 47-41 percent lead, according to a recent Quinnipiac University Polling Institute.
However Obama and Romney are even in a number of nationwide polls.
At this point polls show support for the two men closer than it will be in November, Clinton said, due to continued stress on the US economy.
But if Obama's supporters hit the trail and tout his achievements as president, Clinton said he was confident "he'll be fine and he'll be re-elected."
source
Bank of America tries renting to distressed homeowners ...
May 30, 2012
Bank of America tries renting to distressed homeowners
LOS ANGELES – Unable to qualify for modifications on Bank of America mortgages, a few of California's most distressed homeowners are being offered one last chance to stay in their homes: Become renters instead.
Testing a mortgage-to-lease program in the Golden State, Bank of America Corp. sent 300 letters this week inviting borrowers without other options to apply. An additional 1,500 letters will go out in the next few weeks as the bank - which also is testing the program in three other states - evaluates whether a national rollout is feasible.
Bank of America plans to sell the homes to investors. It typically would recoup far less than what's owed but would come out far ahead compared with where it would be after evicting borrowers, making "cash for keys" payments to help them move and selling empty and often vandalized foreclosures in the troubled housing market.
Evicted homeowners tend to look for single-family homes to rent in their own neighborhoods anyway, so why not let them exchange the deed to the home for a lease, Bank of America executive Ron D. Sturzenegger said.
"It's good for us, it's good for the borrower and ultimately good for the community," said Sturzenegger, who oversees 50,000 employees handling workouts and foreclosures on troubled loans.
Bank of America tries renting to distressed homeowners
LOS ANGELES – Unable to qualify for modifications on Bank of America mortgages, a few of California's most distressed homeowners are being offered one last chance to stay in their homes: Become renters instead.
Testing a mortgage-to-lease program in the Golden State, Bank of America Corp. sent 300 letters this week inviting borrowers without other options to apply. An additional 1,500 letters will go out in the next few weeks as the bank - which also is testing the program in three other states - evaluates whether a national rollout is feasible.
Bank of America plans to sell the homes to investors. It typically would recoup far less than what's owed but would come out far ahead compared with where it would be after evicting borrowers, making "cash for keys" payments to help them move and selling empty and often vandalized foreclosures in the troubled housing market.
Evicted homeowners tend to look for single-family homes to rent in their own neighborhoods anyway, so why not let them exchange the deed to the home for a lease, Bank of America executive Ron D. Sturzenegger said.
"It's good for us, it's good for the borrower and ultimately good for the community," said Sturzenegger, who oversees 50,000 employees handling workouts and foreclosures on troubled loans.
NYC bank indicted on mortgage fraud charges ...
May 31, 2012
NYC bank indicted on mortgage fraud charges
New York, A community bank and 19 ex-employees have been criminally charged with issuing hundreds of millions of dollars in fraudulent mortgages that ended up in unwitting investors' portfolios, prosecutors said Thursday in announcing a rare indictment of a bank in the mortgage meltdown that rocked the U.S. economy.
Abacus Federal Savings Bank was hit with mortgage fraud, grand larceny and other charges in what Manhattan District Attorney Cyrus R. Vance Jr. called "a systematic scheme to falsify and fabricate mortgage applications" so that unqualified borrowers could get loans. The loans later were sold to mortgage giant Fannie Mae, which repackaged them into securities for investors.
NYC bank indicted on mortgage fraud charges
New York, A community bank and 19 ex-employees have been criminally charged with issuing hundreds of millions of dollars in fraudulent mortgages that ended up in unwitting investors' portfolios, prosecutors said Thursday in announcing a rare indictment of a bank in the mortgage meltdown that rocked the U.S. economy.
Abacus Federal Savings Bank was hit with mortgage fraud, grand larceny and other charges in what Manhattan District Attorney Cyrus R. Vance Jr. called "a systematic scheme to falsify and fabricate mortgage applications" so that unqualified borrowers could get loans. The loans later were sold to mortgage giant Fannie Mae, which repackaged them into securities for investors.
Foreign Exchange Currency Fraud Alert
Foreign Exchange Currency Fraud Alert
How do the scams work?
Forex scams attract customers with sophisticated-sounding offers placed in newspaper advertisements, radio promotions, or on Internet sites.
Promoters often lure investors with the concept of leverage: the right to “control” a large amount of foreign currency with an initial payment representing only a fraction of the total cost.
Coupled with predictions about supposedly inevitable increases in currency prices, these contracts are said to offer huge returns over a short time, with little or no downside risk.
READ MORE .. HERE
___
.. HERE .. AND .. HERE
How do the scams work?
Forex scams attract customers with sophisticated-sounding offers placed in newspaper advertisements, radio promotions, or on Internet sites.
Promoters often lure investors with the concept of leverage: the right to “control” a large amount of foreign currency with an initial payment representing only a fraction of the total cost.
Coupled with predictions about supposedly inevitable increases in currency prices, these contracts are said to offer huge returns over a short time, with little or no downside risk.
READ MORE .. HERE
___
.. HERE .. AND .. HERE
The pop icon Madonna, 53, has used the Tel Aviv opening night of her world tour to call for peace in the Middle East.
Pop icon Madonna kicked off her 2012 world tour on Thursday with a call for peace from a Tel Aviv stage.
"I chose to start my world tour in Israel for a very specific and important reason," she said, to applause and cheers from the capacity crowd.
"As you know, the Middle East and all the conflict that occurs here and have been occurring for thousands of years, they have to stop," she added. "You can't be a fan of mine and not want peace in the world."
"So start today - every single one of you, if there is peace here in the Middle East, there can be peace in the whole world."
The Tel Aviv show, in support of the MDNA album, launched the 53-year-old Queen of Pop's ninth world tour and her first since her Sticky and Sweet outing in 2008/2009.
From Israel, she is to move on to Abu Dhabi and then to Europe and the Americas before ending in early 2013 in Australia, where she has not performed in more than 20 years.
A day ahead of the performance, the diminutive diva briefly met members of the Palestinian-Israeli Peace NGO Forum and handed them 600 tickets.
"We spoke to her for a few minutes and we asked if she would say anything about peace," Yariv Oppenheimer of Peace Now, a member of the forum, told AFP, saying it was the alliance's first-ever contact with the petite singer, who has largely steered clear of getting involved with the Israeli-Palestinian conflict.
"She told us: 'I will say much more than a word about it.'"
In Thursday's show she paid tribute to groups seeking to help end the Israeli-Palestinian conflict.
"There are some very important NGOs which are representing both Palestine and Israel over here," she told the audience.
"It's easy to say: 'I want peace in the world,' but it's another thing to do it. If we can all rise above our egos and our titles and the names of our countries and our religions - and treat everyone around us with dignity and respect, then we are on the road to peace," she said.
"No conflict can ever be resolved by causing pain to another human being."
During the concert Madonna, who studies Jewish mysticism found in the Kabbalah, danced, bumped, grinded and vogued in flashy costumes to a raucous crowd at Ramat Gan stadium near Tel Aviv.
She emerged on stage in a confessional, breaking through its glass window using a rifle, which she then aimed at the audience. She wore a skin-tight black outfit to sing her first song, Girl Gone Wild, accompanied by dancers dressed as monks.
She went on to sing Give Me All Your Luvin' and a much-anticipated mash-up of the classic Express Yourself and Lady Gaga's Born This Way, dressed as a marching band conductor.
Iraq ~ Deputy Economic Prime Minister demanding amendments to tax laws
related article .. link .. Kuwaiti Embassy in Iraq has recently announced the entry of 50 companies entering Iraq at the end of May - Kuwait to support free trade ...
May 31, 2012
Deputy economic Prime Minister demanding amendments to tax laws
Baghdad, He is a member of the parliamentary Economic Committee and the Liberal bloc MP Abdel Hussein ressan was arrested that imports tax constituted a very shy in the State budget for this year and previous years.
Ressan was arrested said in a press statement today, received a copy him "to tax imports formed figures during the previous years budgets, very shy ...Saying, "this evidence of ineffective tax system in Iraq and suffers from a bug, let alone not to apply scientific standards in a taxation of citizens.
May 31, 2012
Deputy economic Prime Minister demanding amendments to tax laws
Baghdad, He is a member of the parliamentary Economic Committee and the Liberal bloc MP Abdel Hussein ressan was arrested that imports tax constituted a very shy in the State budget for this year and previous years.
Ressan was arrested said in a press statement today, received a copy him "to tax imports formed figures during the previous years budgets, very shy ...Saying, "this evidence of ineffective tax system in Iraq and suffers from a bug, let alone not to apply scientific standards in a taxation of citizens.
Iraq's Tariff and Customs Tax ~ Early June, 2012 ..(Step Towards WTO Accession) ...
Bumped ...
March 18, 2012
Baghdad, Finance Minister Rafie al-Issawi on Sunday for the direct tariff customs early June.
And Finance Minister Rafie al-Issawi told a news conference in Baghdad, said the ministry has identified the first of June next date for the direct tariff customs for all goods entering Iraq, pointing out that the application of customs tariff will be according to the tight controls and strict controls on the staff.
The minister added that the customs tariff to be applied will not significantly impact on the consumer in terms of higher commodity prices in local markets, and will protect producer and consumer Iraqi alike, indicating that it has developed an approach to tariff old had been working with Iraq before 2003, and will vary their proportions depending on the quality of goods and commodities.
Minister explained that the application of customs tariff that would support the production, industry, local agriculture and reduce flood the market with goods bad, as well as to facilitate Iraq's accession to the WTO, as well as the State's right to get on collection of goods and commodities entering Iraq.
March 18, 2012
Baghdad, Finance Minister Rafie al-Issawi on Sunday for the direct tariff customs early June.
And Finance Minister Rafie al-Issawi told a news conference in Baghdad, said the ministry has identified the first of June next date for the direct tariff customs for all goods entering Iraq, pointing out that the application of customs tariff will be according to the tight controls and strict controls on the staff.
The minister added that the customs tariff to be applied will not significantly impact on the consumer in terms of higher commodity prices in local markets, and will protect producer and consumer Iraqi alike, indicating that it has developed an approach to tariff old had been working with Iraq before 2003, and will vary their proportions depending on the quality of goods and commodities.
Minister explained that the application of customs tariff that would support the production, industry, local agriculture and reduce flood the market with goods bad, as well as to facilitate Iraq's accession to the WTO, as well as the State's right to get on collection of goods and commodities entering Iraq.
Iraq, Committee on economy: Central to implement project delete zeros ...
Related article .. link .. CBI ~ Central Bank of carpet under the feet of the currency speculators ..and .. link .. Iraq ~ Advisor to the Central Bank reveals the formation of a committee to make a decision to delete the zeros of the dinarThursday, 31-05-2012
Member of the Committee on economy: (Central Bank of Egypt to implement project delete zeros despite calls delayed)
Baghdad, Economic Committee member confirmed
Deputy for Iraqi coalition, determination albegari Noora Central Bank to implement the draft deleted three zeros from the currency early next year despite calls for postponement, noting that he agreed in principle with corporate promotional currency and typographical errors.
She albegari (News Agency news) on Thursday: the Central Bank prepared a comprehensive study on the three zeros deleted project where its pros and cons of the project and handed over to the Commission and the House's economic ministers to look at the relevance of the project to the Iraqi economy.
Obama and George W. Bush, his wife Laura, his father and 41st president George Bush senior, Attend The White House Unveiling ...
May 31, 2012
Obama puts attacks on hold to welcome Bush back 'home'
US President Barack Obama lauded the "strength and resolve" of George W. Bush Thursday, dispensing with his normal critiques of his predecessor's legacy to welcome him back to the White House.
Bush, his wife Laura, his father and 41st president George Bush senior and family and administration members staged a revival in the East Room of the White House for the unveiling of the former US leader's official portrait.
Obama savages Bush's legacy at home and abroad in stump speeches as he runs for reelection, but on this occasion sought to highlight the unifying moment when his predecessor rallied a nation after the September 11 attacks in 2001.
"All of us will always remember the image of President Bush standing on that pile of rubble, bull horn in hand, conveying extraordinary strength and resolve to the American people," Obama said.
Obama noted that despite differences, he sometimes turned for advice to the few men living who have also sat behind the Oval Office desk.
"We may have our differences politically, but the presidency transcends those differences. We all love this country. We all want America to succeed."
Former President George H.W. Bush, 87, who is increasingly frail and attended the event in a wheelchair wearing striped red, white and blue socks, got two long ovations, in a rare public appearance.
His son appeared to choke up when he thanked his father for his "unconditional love" in what was otherwise a light-hearted and self deprecating speech.
Obama puts attacks on hold to welcome Bush back 'home'
US President Barack Obama lauded the "strength and resolve" of George W. Bush Thursday, dispensing with his normal critiques of his predecessor's legacy to welcome him back to the White House.
Bush, his wife Laura, his father and 41st president George Bush senior and family and administration members staged a revival in the East Room of the White House for the unveiling of the former US leader's official portrait.
Obama savages Bush's legacy at home and abroad in stump speeches as he runs for reelection, but on this occasion sought to highlight the unifying moment when his predecessor rallied a nation after the September 11 attacks in 2001.
"All of us will always remember the image of President Bush standing on that pile of rubble, bull horn in hand, conveying extraordinary strength and resolve to the American people," Obama said.
Obama noted that despite differences, he sometimes turned for advice to the few men living who have also sat behind the Oval Office desk.
"We may have our differences politically, but the presidency transcends those differences. We all love this country. We all want America to succeed."
Former President George H.W. Bush, 87, who is increasingly frail and attended the event in a wheelchair wearing striped red, white and blue socks, got two long ovations, in a rare public appearance.
His son appeared to choke up when he thanked his father for his "unconditional love" in what was otherwise a light-hearted and self deprecating speech.
Wall Street in biggest monthly loss since September
Thursday, May 31, 2012
Wall Street closes dire month with a whimper
U.S. stocks fell modestly on Thursday to close out the worst month since September as investor sentiment sank on Europe's deepening credit problems.
The broad S&P 500 index fell 6.3 percent in May, its largest percentage drop since September. The Dow's 6.2 percent drop and Nasdaq's 7.2 percent loss are their largest monthly declines in two years.
Spain was at the center of the latest European developments as markets judged Madrid's government would sooner or later have to ask for outside help for its banks. A report, later denied, of possible plans to assist Spain with its troubled banks helped Wall Street nearly erase losses of 1 percent in the afternoon.
Market participants cited month-end rebalancing as also supporting stocks due to money managers buying more shares to make up for the declining value of equities during May.
However, the continuing worry over Europe and a batch of disappointing U.S. economic figures weighed on the market. Jobless claims rose for the seventh week in eight, putting investors on edge before Friday's U.S. monthly payrolls report.
Wall Street closes dire month with a whimper
U.S. stocks fell modestly on Thursday to close out the worst month since September as investor sentiment sank on Europe's deepening credit problems.
The broad S&P 500 index fell 6.3 percent in May, its largest percentage drop since September. The Dow's 6.2 percent drop and Nasdaq's 7.2 percent loss are their largest monthly declines in two years.
Spain was at the center of the latest European developments as markets judged Madrid's government would sooner or later have to ask for outside help for its banks. A report, later denied, of possible plans to assist Spain with its troubled banks helped Wall Street nearly erase losses of 1 percent in the afternoon.
Market participants cited month-end rebalancing as also supporting stocks due to money managers buying more shares to make up for the declining value of equities during May.
However, the continuing worry over Europe and a batch of disappointing U.S. economic figures weighed on the market. Jobless claims rose for the seventh week in eight, putting investors on edge before Friday's U.S. monthly payrolls report.
Sluggish US economy points to more jobless misery ...
Snip ~ "Steven Ricchiuto, chief economist at Mizuho Financial Group, said the May job numbers could spur the Federal Reserve to unleash more economic stimulus, such as another round of asset purchases, or quantitative easing. "Should the payroll number come in below 100,000 tomorrow then the policy risk will shift from extension of Twist to outright QE," he said"
May 31, 2012
Sluggish US economy points to more jobless misery
The US economy grew more slowly than thought in the first three months of the year, new estimates showed Thursday ahead of the government's May jobs and unemployment report.
The Commerce Department said the world's largest economy expanded at an annual rate of 1.9 percent in the first quarter, instead of the 2.2 percent pace initially estimated last month.
May 31, 2012Sluggish US economy points to more jobless misery
The US economy grew more slowly than thought in the first three months of the year, new estimates showed Thursday ahead of the government's May jobs and unemployment report.
The Commerce Department said the world's largest economy expanded at an annual rate of 1.9 percent in the first quarter, instead of the 2.2 percent pace initially estimated last month.
EU Preparing More Syria Sanctions
5/31/2012
EU Preparing More Syria Sanctions
Hillary Clinton: Russian refusal to allow intervention in Syria may contribute to a civil war.
British Foreign Secretary William Hague said Thursday he is working with partners in other European Union countries to impose additional sanctions on Syria, without the approval of the UN Security Council.
Speaking from Istanbul, Hague warned that Syria was moving closer to an "all-out civil war," ITV News reported.
U.S. Secretary of State Hillary Clinton explained to an audience in Copenhagen that Russia is blocking an international intervention in Syria.
EU Preparing More Syria Sanctions
Hillary Clinton: Russian refusal to allow intervention in Syria may contribute to a civil war.
British Foreign Secretary William Hague said Thursday he is working with partners in other European Union countries to impose additional sanctions on Syria, without the approval of the UN Security Council.
Speaking from Istanbul, Hague warned that Syria was moving closer to an "all-out civil war," ITV News reported.
U.S. Secretary of State Hillary Clinton explained to an audience in Copenhagen that Russia is blocking an international intervention in Syria.
Madonna Kicks Off Tour In Israel with a call for peace from a Tel Aviv stage
May 31, 2012
Madonna Kicks Off World Tour in Israel
The pop icon Madonna, 53, has used the Tel Aviv opening night of her world tour to call for peace in the Middle East.
Pop icon Madonna kicked off her 2012 world tour on Thursday with a call for peace from a Tel Aviv stage.
"I chose to start my world tour in Israel for a very specific and important reason," she said, to applause and cheers from the capacity crowd.
"As you know, the Middle East and all the conflict that occurs here and have been occurring for thousands of years, they have to stop," she added. "You can't be a fan of mine and not want peace in the world."
"So start today - every single one of you, if there is peace here in the Middle East, there can be peace in the whole world."
The Tel Aviv show, in support of the MDNA album, launched the 53-year-old Queen of Pop's ninth world tour and her first since her Sticky and Sweet outing in 2008/2009.
From Israel, she is to move on to Abu Dhabi and then to Europe and the Americas before ending in early 2013 in Australia, where she has not performed in more than 20 years.
A day ahead of the performance, the diminutive diva briefly met members of the Palestinian-Israeli Peace NGO Forum and handed them 600 tickets.
"We spoke to her for a few minutes and we asked if she would say anything about peace," Yariv Oppenheimer of Peace Now, a member of the forum, told AFP, saying it was the alliance's first-ever contact with the petite singer, who has largely steered clear of getting involved with the Israeli-Palestinian conflict.
"She told us: 'I will say much more than a word about it.'"
In Thursday's show she paid tribute to groups seeking to help end the Israeli-Palestinian conflict.
"There are some very important NGOs which are representing both Palestine and Israel over here," she told the audience.
"It's easy to say: 'I want peace in the world,' but it's another thing to do it. If we can all rise above our egos and our titles and the names of our countries and our religions - and treat everyone around us with dignity and respect, then we are on the road to peace," she said.
"No conflict can ever be resolved by causing pain to another human being."
During the concert Madonna, who studies Jewish mysticism found in the Kabbalah, danced, bumped, grinded and vogued in flashy costumes to a raucous crowd at Ramat Gan stadium near Tel Aviv.
She emerged on stage in a confessional, breaking through its glass window using a rifle, which she then aimed at the audience. She wore a skin-tight black outfit to sing her first song, Girl Gone Wild, accompanied by dancers dressed as monks.
She went on to sing Give Me All Your Luvin' and a much-anticipated mash-up of the classic Express Yourself and Lady Gaga's Born This Way, dressed as a marching band conductor.
_AND ...another article ...
Jerusalem, Pop music star Madonna treated tens of thousands of ecstatic fans in Israel to the inaugural show of her "MDNA" world tour on Thursday, performing in a country where she has long claimed a special bond.
The "Material Girl," a devotee of a form of Jewish mysticism known as Kabbalah, danced, bumped, grinded and vogued in flashy costumes to a raucous crowd at Ramat Gan stadium near Tel Aviv.
Madonna emerged on stage in a confessional, breaking through its glass window using a rifle, which she then aimed at the audience. She wore a skin-tight black outfit to sing her first song, "Girl Gone Wild," accompanied by dancers dressed as monks.
Madonna Kicks Off World Tour in Israel
The pop icon Madonna, 53, has used the Tel Aviv opening night of her world tour to call for peace in the Middle East.
Pop icon Madonna kicked off her 2012 world tour on Thursday with a call for peace from a Tel Aviv stage.
"I chose to start my world tour in Israel for a very specific and important reason," she said, to applause and cheers from the capacity crowd.
"As you know, the Middle East and all the conflict that occurs here and have been occurring for thousands of years, they have to stop," she added. "You can't be a fan of mine and not want peace in the world."
"So start today - every single one of you, if there is peace here in the Middle East, there can be peace in the whole world."
The Tel Aviv show, in support of the MDNA album, launched the 53-year-old Queen of Pop's ninth world tour and her first since her Sticky and Sweet outing in 2008/2009.
From Israel, she is to move on to Abu Dhabi and then to Europe and the Americas before ending in early 2013 in Australia, where she has not performed in more than 20 years.
A day ahead of the performance, the diminutive diva briefly met members of the Palestinian-Israeli Peace NGO Forum and handed them 600 tickets.
"We spoke to her for a few minutes and we asked if she would say anything about peace," Yariv Oppenheimer of Peace Now, a member of the forum, told AFP, saying it was the alliance's first-ever contact with the petite singer, who has largely steered clear of getting involved with the Israeli-Palestinian conflict.
"She told us: 'I will say much more than a word about it.'"
In Thursday's show she paid tribute to groups seeking to help end the Israeli-Palestinian conflict.
"There are some very important NGOs which are representing both Palestine and Israel over here," she told the audience.
"It's easy to say: 'I want peace in the world,' but it's another thing to do it. If we can all rise above our egos and our titles and the names of our countries and our religions - and treat everyone around us with dignity and respect, then we are on the road to peace," she said.
"No conflict can ever be resolved by causing pain to another human being."
During the concert Madonna, who studies Jewish mysticism found in the Kabbalah, danced, bumped, grinded and vogued in flashy costumes to a raucous crowd at Ramat Gan stadium near Tel Aviv.
She emerged on stage in a confessional, breaking through its glass window using a rifle, which she then aimed at the audience. She wore a skin-tight black outfit to sing her first song, Girl Gone Wild, accompanied by dancers dressed as monks.
She went on to sing Give Me All Your Luvin' and a much-anticipated mash-up of the classic Express Yourself and Lady Gaga's Born This Way, dressed as a marching band conductor.
_AND ...another article ...
Jerusalem, Pop music star Madonna treated tens of thousands of ecstatic fans in Israel to the inaugural show of her "MDNA" world tour on Thursday, performing in a country where she has long claimed a special bond.
The "Material Girl," a devotee of a form of Jewish mysticism known as Kabbalah, danced, bumped, grinded and vogued in flashy costumes to a raucous crowd at Ramat Gan stadium near Tel Aviv.
Madonna emerged on stage in a confessional, breaking through its glass window using a rifle, which she then aimed at the audience. She wore a skin-tight black outfit to sing her first song, "Girl Gone Wild," accompanied by dancers dressed as monks.
MDNA?
Mitochondrial DNA and human history
Human genetics got a real boost with the discovery that mitochondria have their own DNA. Mitochondria are tiny organelles that live in the cytoplasm of cells, the fluid-filled space between the cell nucleus and the outer membrane. There are thousands of mitochondria in each cell, and each one has its own small circle of DNA, a reminder of their distant bacterial ancestry.
What makes mitochondrial DNA (or mDNA for short) so special and so useful? First is its unique inheritance pattern. Human eggs are full of mitochondria, while sperm have only a hundred or so, just enough to power it while it swims towards the egg. After fertilisation, when the sperm penetrates the egg, these few male mitochondria are immediately destroyed. This means that, while we all receive our nuclear DNA, with the exception of the X and Y sex chromosomes, from both parents, we get all of our mDNA from our mothers. She got it from her mother, who got it from hers – and so on back in time.
Mitochondrial DNA is most useful in connecting the maternal lines of living people in different parts of the world.
The other handy thing about mDNA is that it changes much more rapidly than nuclear DNA, about 20 times as fast, because mitochondria lack an efficient proof-reading system to check for errors when DNA is copied. The high mutation rate means that there is plenty of variation in the sequence of mDNA between people, and variation is the lifeblood of genetics.
For geneticists and historians, mDNA is a natural for tracing maternal genealogies but the real excitement is in tracing much deeper connections. It is so abundant in cells that traces can still be found in human remains many thousands of years old, like Oetzi the Iceman. In 1994 my research team showed that Oetzi had exactly the same mDNA as many people alive today. Its retrieval from ancient bone has been instrumental in many famous cases of historic significance, such as confirming the identity of the remains of the last Tsar and his family.
But I think mDNA is most useful in connecting the maternal lines of living people in different parts of the world, and here it has been used to solve many oustanding riddles. For example, we used mDNA to show that all Polynesians could traced their ancestry back to southeast Asia and not to the Americas, as the late Thor Heyerdahl famously claimed. Others have used mDNA to prove that the ancestors of native Americans really did cross from Siberia about 13 000 years ago, putting an end to such unlikely claims as they were the descended from a lost tribe from the Middle East.
Tracing the early history of the human colonisation of Europe beginning about 45 000 years ago has been another success story for mDNA, proving that most Europeans trace their ancestry to hunter-gatherers who arrived during the last Ice Age, rather than farmers coming from the Middle East. And also that the Neanderthals have left no trace in the European gene pool and almost certainly became extinct.
Among native Europeans, almost everybody can trace their maternal genealogy, using mDNA, to one of only seven women, their ancient clan mother. To give them an identity I have given these women names: Ursula, Xenia, Helena, Velda, Tara, Katrine and Jasmine. The women lived between 10 000 and 45 000 years ago, six of the seven were hunter-gatherers, the seventh, Jasmine, was an early farmer. These seven women are also related to each other, and these connections can also be followed by mDNA. They join up with the clan mothers from other parts of the world and ultimately coalesce in one woman – mitochondrial Eve, who lived in Africa about 150 000 years ago. Wherever we live on the planet, we are all her descendants.
Bryan Sykes is Professor of Human Genetics at the Weatherall Institute of Molecular Medicine, University of Oxford.
source
Human genetics got a real boost with the discovery that mitochondria have their own DNA. Mitochondria are tiny organelles that live in the cytoplasm of cells, the fluid-filled space between the cell nucleus and the outer membrane. There are thousands of mitochondria in each cell, and each one has its own small circle of DNA, a reminder of their distant bacterial ancestry.
What makes mitochondrial DNA (or mDNA for short) so special and so useful? First is its unique inheritance pattern. Human eggs are full of mitochondria, while sperm have only a hundred or so, just enough to power it while it swims towards the egg. After fertilisation, when the sperm penetrates the egg, these few male mitochondria are immediately destroyed. This means that, while we all receive our nuclear DNA, with the exception of the X and Y sex chromosomes, from both parents, we get all of our mDNA from our mothers. She got it from her mother, who got it from hers – and so on back in time.
Mitochondrial DNA is most useful in connecting the maternal lines of living people in different parts of the world.
The other handy thing about mDNA is that it changes much more rapidly than nuclear DNA, about 20 times as fast, because mitochondria lack an efficient proof-reading system to check for errors when DNA is copied. The high mutation rate means that there is plenty of variation in the sequence of mDNA between people, and variation is the lifeblood of genetics.
For geneticists and historians, mDNA is a natural for tracing maternal genealogies but the real excitement is in tracing much deeper connections. It is so abundant in cells that traces can still be found in human remains many thousands of years old, like Oetzi the Iceman. In 1994 my research team showed that Oetzi had exactly the same mDNA as many people alive today. Its retrieval from ancient bone has been instrumental in many famous cases of historic significance, such as confirming the identity of the remains of the last Tsar and his family.
But I think mDNA is most useful in connecting the maternal lines of living people in different parts of the world, and here it has been used to solve many oustanding riddles. For example, we used mDNA to show that all Polynesians could traced their ancestry back to southeast Asia and not to the Americas, as the late Thor Heyerdahl famously claimed. Others have used mDNA to prove that the ancestors of native Americans really did cross from Siberia about 13 000 years ago, putting an end to such unlikely claims as they were the descended from a lost tribe from the Middle East.
Tracing the early history of the human colonisation of Europe beginning about 45 000 years ago has been another success story for mDNA, proving that most Europeans trace their ancestry to hunter-gatherers who arrived during the last Ice Age, rather than farmers coming from the Middle East. And also that the Neanderthals have left no trace in the European gene pool and almost certainly became extinct.
Among native Europeans, almost everybody can trace their maternal genealogy, using mDNA, to one of only seven women, their ancient clan mother. To give them an identity I have given these women names: Ursula, Xenia, Helena, Velda, Tara, Katrine and Jasmine. The women lived between 10 000 and 45 000 years ago, six of the seven were hunter-gatherers, the seventh, Jasmine, was an early farmer. These seven women are also related to each other, and these connections can also be followed by mDNA. They join up with the clan mothers from other parts of the world and ultimately coalesce in one woman – mitochondrial Eve, who lived in Africa about 150 000 years ago. Wherever we live on the planet, we are all her descendants.
Bryan Sykes is Professor of Human Genetics at the Weatherall Institute of Molecular Medicine, University of Oxford.
source
President George W. Bush at the White House on Thursday
May 31, 2012President Barack Obama is welcoming his favorite foil, former President George W. Bush, back to the White House on Thursday for the official unveiling of Bush's portrait. Given the history, the scene ought to be quite a picture.
Obama is still bad-mouthing Bush's time in office, and it's not just because of the debt and the unfinished wars Obama inherited. Obama sees Bush's economic ideas as the same as his current rival, Mitt Romney, so he lumps them together.
Which makes it a little awkward that Obama is about to preside as Bush's image and legacy are enshrined forever.
Never mind all that, say the Obama and Bush camps. This is a timeout for tradition.
The political reunion is expected to put aside any campaign rhetoric, as other gatherings among past and current presidents have, to honor nostalgia and the service of the former president and his wife, Laura.
In the heart of a re-election year, Obama will to get to rise above the fray for a day and play statesman.
He and his wife, Michelle, will host generations of Bushes for a private lunch, including former President George H.W. Bush and former first lady Barbara Bush. Family members will join them.
Did Satan Fall to Earth Today May 31st 2012 before Madonna's Ritual?
Related articles .. Wars in June .. Some on June 6th ... Wars .. Venus Transit (June 6th 2012) ...Venus, Babylonian Goddess Inanna-Ishtar ...
Did Satan Fall to Earth Today May 31st 2012 before Madonna's Ritual?
Snips ~ Splashdown for SpaceX Dragon spacecraft
May 31, 2012
It has been a highly successful mission for SpaceX and its Dragon capsule
The American SpaceX company's Dragon cargo capsule has splashed down in the ocean off the California coast.
The return to Earth completes a historic first mission to the International Space Station (ISS) by a privately operated vehicle.
Impact with the water was confirmed at 08:42 Pacific Daylight Time (15:42 GMT; 16:42 BST).
Once recovered, Dragon will be returned to port, and then transferred to Texas for inspection and for its cargo to be unloaded.
The agency hopes the contracting out of freight duties will save it money that can then be re-invested in more daring activities beyond the station, at destinations such as asteroids and Mars.
___
*"Dragon is free from the International Space Station"
*Satan fell to Earth like a Dragon...
Revelation 12 - The Woman, the Child, and the Dragon
A. The woman.
1. (1) The woman is described in celestial images.
Now a great sign appeared in heaven: a woman clothed with the sun, with the moon under her feet, and on her head a garland of twelve stars.
a. Now a great sign appeared: This is the first of seven signs that John relates, and is described as a great sign (mega semeion). In Revelation chapters 12, 13, and 14 the main figures of the Great Tribulation are described, and this great sign introduces the first of the seven:
Did Satan Fall to Earth Today May 31st 2012 before Madonna's Ritual?Snips ~ Splashdown for SpaceX Dragon spacecraft
May 31, 2012
It has been a highly successful mission for SpaceX and its Dragon capsule
The American SpaceX company's Dragon cargo capsule has splashed down in the ocean off the California coast.
The return to Earth completes a historic first mission to the International Space Station (ISS) by a privately operated vehicle.
Impact with the water was confirmed at 08:42 Pacific Daylight Time (15:42 GMT; 16:42 BST).
Once recovered, Dragon will be returned to port, and then transferred to Texas for inspection and for its cargo to be unloaded.
The agency hopes the contracting out of freight duties will save it money that can then be re-invested in more daring activities beyond the station, at destinations such as asteroids and Mars.
___
*"Dragon is free from the International Space Station"
*Satan fell to Earth like a Dragon...
Revelation 12 - The Woman, the Child, and the Dragon
A. The woman.
1. (1) The woman is described in celestial images.
Now a great sign appeared in heaven: a woman clothed with the sun, with the moon under her feet, and on her head a garland of twelve stars.
a. Now a great sign appeared: This is the first of seven signs that John relates, and is described as a great sign (mega semeion). In Revelation chapters 12, 13, and 14 the main figures of the Great Tribulation are described, and this great sign introduces the first of the seven:
SpaceX's Dragon Splashdown @ 1444 GMT, May 31, 2012 ... #444 and Israel and Jerusalem ...
Related Article .. Link .. Did Satan Fall to Earth Today May 31st 2012 before Madonna's Ritual?
Other .. Links ..*http://watch.pair.com/new-jerusalem.html .. and link .. http://watch.pair.com/new-jerusalem.html#24.C.GOD.MILL
May 31, 2012
US company SpaceX's Dragon cargo ship is set to make a fiery return journey to Earth on Thursday after a landmark mission to the International Space Station.
The release of the unmanned Dragon is set for 5:35 am Eastern time (0935 GMT) on Thursday, with an intact splashdown in the Pacific Ocean off California planned for 1444 GMT, NASA said.
Other .. Links ..*http://watch.pair.com/new-jerusalem.html .. and link .. http://watch.pair.com/new-jerusalem.html#24.C.GOD.MILL
May 31, 2012
US company SpaceX's Dragon cargo ship is set to make a fiery return journey to Earth on Thursday after a landmark mission to the International Space Station.
The release of the unmanned Dragon is set for 5:35 am Eastern time (0935 GMT) on Thursday, with an intact splashdown in the Pacific Ocean off California planned for 1444 GMT, NASA said.
Iraq ~ House of Representatives reveals the exemption of food and clothing from tariff
Wednesday, May 30, 2012
House of Representatives reveals the exemption of food and clothing from tariff
Revealed the Finance Committee in the House of Representatives, Wednesday, for the government decided to exempt food and clothing imported from the customs tariff, noting that work will begin to impose customs tariff on 06/30/2012.
A member of the parliamentary Finance Committee Haitham Jubouri for "Twilight News", the food and clothing will be exempt from the application of the customs tariff system being one of the staples that related to the daily lives of citizens. "
"The tariff will be working gradually upward on goods from non-edible and drink such as cars, cigarettes and drinks," noting, "If things were applied in this way there will be a control on the market and therefore, this increase would not cause the gradual inflation of a major."
House of Representatives reveals the exemption of food and clothing from tariff
Revealed the Finance Committee in the House of Representatives, Wednesday, for the government decided to exempt food and clothing imported from the customs tariff, noting that work will begin to impose customs tariff on 06/30/2012.
A member of the parliamentary Finance Committee Haitham Jubouri for "Twilight News", the food and clothing will be exempt from the application of the customs tariff system being one of the staples that related to the daily lives of citizens. "
"The tariff will be working gradually upward on goods from non-edible and drink such as cars, cigarettes and drinks," noting, "If things were applied in this way there will be a control on the market and therefore, this increase would not cause the gradual inflation of a major."
Iraq ~ Gigantic housing project inaugurated in Baghdad
May 31, 2012Gigantic housing project inaugurated in Baghdad
Prime Minister Nouri al-Malaki has laid down the foundation stone for a gigantic housing project that will provide decent homes for nearly one million people in Baghdad.
The new project is a new city by itself as its first stage includes the construction of 100,000 housing units.
The project will be implemented by the South Korean firm Hanwha.
Iraq ~ Finance Committee await planning to distribute oil savings ...
May 31, 2012Finance Committee await planning to distribute oil savings
Baghdad, The parliamentary Finance Committee demanded the Ministry of planning to expedite the issuance of instructions to implement the law on the distribution of Iraqi monetary and fur (s) oil passed in the 2012 budget.
The Chairman of the Committee and the State of law Coalition leadership, Haidar Al-Abbadi told the press, today received a copy, "that Iraqi cash distribution from the increase in oil revenues in the budget law approved awaiting instructions by the ministries of finance and planning committees for Sadr and the Iraqi list.
Abbadi demanded by law enforcement in the interest of Iraqis in a fair and impartial away from partisan esoteric feature ... And the parliamentary Finance Committee Chief and leading coalition of State law "there is someone who wants to achieve special interests at the expense of the citizens and manipulate the emotions of the masses for political figures wetskit are exposed".
source
Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases
May 31, 2012
The ECB establishes controls to combat money-laundering operations
Karbala, The Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases that occur. Director of research and statistics at the Bank told the correspondent today, "the Central Bank of Iraq emphasized through controls and restrictions established by the law (930) on combating money-laundering and smuggling of currency in the country."
He added, "there is coordination between the Iraqi banks and laundering offices on the Ministry of the Interior on the other hand". Director Walid Eid Abdel Nabi, the Central Bank closely monitors the continued movement of cash inside Iraq, along with control of volume of exports and imports of foreign currencies in various border crossings.
The Director of the statistical research in the Central Bank, "the movement of funds are all smoothly unimpeded". He stressed, "there is no serious fears of currency smuggling operations that Iraq possesses substantial cash resources after heading towards open economy."
source
The ECB establishes controls to combat money-laundering operations
Karbala, The Iraqi Central Bank revealed that offices specialized in monitoring and controlling the movement of money inside Iraq to counter money laundering cases that occur. Director of research and statistics at the Bank told the correspondent today, "the Central Bank of Iraq emphasized through controls and restrictions established by the law (930) on combating money-laundering and smuggling of currency in the country."
He added, "there is coordination between the Iraqi banks and laundering offices on the Ministry of the Interior on the other hand". Director Walid Eid Abdel Nabi, the Central Bank closely monitors the continued movement of cash inside Iraq, along with control of volume of exports and imports of foreign currencies in various border crossings.
The Director of the statistical research in the Central Bank, "the movement of funds are all smoothly unimpeded". He stressed, "there is no serious fears of currency smuggling operations that Iraq possesses substantial cash resources after heading towards open economy."
source
The Good, Bad, And Ugly Of Emerging Markets ...
Thank you to bamabreeze for the following article ...:)
May 31, 2012
The Good, Bad, And Ugly Of Emerging Markets
With Europe now seemingly in exile from even the bravest knife-catcher value-manager, and, despite media protestation, US equities facing weak macro data and a fiscal cliff of epic proportions; it is no surprise that everyone and their mom thinks emerging markets are the place to be.
However, as UBS notes today, not all EM balance sheets (whether government, corporate, or private) are the same and they break down the low, medium, and high risk balance sheets across Asia, LatAm, and EMEA.
UBS - Where are EM balance sheets at risk?
Looking at Global Emerging Market (GEM) balance sheets from three angles, government, companies and consumers, we find that in aggregate they look very healthy. Whether we look at public debt, net debt or external debt to GDP, indebtedness of emerging market governments is a lot less than in the developed world. Emerging market government debt has fallen over the past few years, in stark contrast to the rise in public debt we have seen in the West.
Read Full Article By Tyler Durden @ Zero hedge Here
May 31, 2012
The Good, Bad, And Ugly Of Emerging Markets
With Europe now seemingly in exile from even the bravest knife-catcher value-manager, and, despite media protestation, US equities facing weak macro data and a fiscal cliff of epic proportions; it is no surprise that everyone and their mom thinks emerging markets are the place to be.
However, as UBS notes today, not all EM balance sheets (whether government, corporate, or private) are the same and they break down the low, medium, and high risk balance sheets across Asia, LatAm, and EMEA.
UBS - Where are EM balance sheets at risk?
Looking at Global Emerging Market (GEM) balance sheets from three angles, government, companies and consumers, we find that in aggregate they look very healthy. Whether we look at public debt, net debt or external debt to GDP, indebtedness of emerging market governments is a lot less than in the developed world. Emerging market government debt has fallen over the past few years, in stark contrast to the rise in public debt we have seen in the West.
Read Full Article By Tyler Durden @ Zero hedge Here
Political Council and Jubouri accuse the Iraqi leadership forged signatures to withdraw confidence from the Maliki
Thursday, May 31, 2012
Political Council and Jubouri accuse the Iraqi leadership forged signatures to withdraw confidence from the Maliki
Kirkuk, accused of political council of the Arab and deputy of the Iraqi Kirkuk, on Thursday, the Iraqi leadership forged signatures in the subject of withdrawal of confidence from the current Prime Minister Nuri al-Maliki.
The MP said the Kirkuk-based Iraqi Omar Jubouri told / Baghdadiya News /, "The leadership of the Iraqi List, has forged signatures of many of the deputies who refused to withdraw confidence from the Prime Minister Nuri al-Maliki."
The Jubouri that "the political council of the Arab and House of Representatives for the province of Kirkuk in the parliament refused to withdraw confidence from the Prime Minister Maliki," describing the "falsification of signatures of dangerous game will enter the country with her in danger."
source
Political Council and Jubouri accuse the Iraqi leadership forged signatures to withdraw confidence from the Maliki
Kirkuk, accused of political council of the Arab and deputy of the Iraqi Kirkuk, on Thursday, the Iraqi leadership forged signatures in the subject of withdrawal of confidence from the current Prime Minister Nuri al-Maliki.
The MP said the Kirkuk-based Iraqi Omar Jubouri told / Baghdadiya News /, "The leadership of the Iraqi List, has forged signatures of many of the deputies who refused to withdraw confidence from the Prime Minister Nuri al-Maliki."
The Jubouri that "the political council of the Arab and House of Representatives for the province of Kirkuk in the parliament refused to withdraw confidence from the Prime Minister Maliki," describing the "falsification of signatures of dangerous game will enter the country with her in danger."
source
Hashemi's Lawyers want President Talabani To Testify ...
May 31, 2012
Iraqi VP's lawyers want president to testify
Lawyers representing Iraq's fugitive vice president have asked the court to summon the nation's president as a defense witness in the Sunni official's terror trial.
The Baghdad court hearing the case against Vice President Tariq al-Hashemi immediately rejected the request on Thursday but said the defense can appeal.
Al-Hashemi, one of Iraq's highest-ranking Sunni Muslim politicians, is accused of running death squads that targeted Shiite Muslims.
The vice president, who has sought refuge in Turkey, says he is innocent and the victim of a political vendetta by Prime Minister Nouri al-Maliki, a Shiite.
Al-Maliki is facing mounting complaints from within his broad-based unity government that he is excluding minority Sunni and Kurdish coalition partners from power.
source
Iraqi VP's lawyers want president to testify
Lawyers representing Iraq's fugitive vice president have asked the court to summon the nation's president as a defense witness in the Sunni official's terror trial.
The Baghdad court hearing the case against Vice President Tariq al-Hashemi immediately rejected the request on Thursday but said the defense can appeal.
Al-Hashemi, one of Iraq's highest-ranking Sunni Muslim politicians, is accused of running death squads that targeted Shiite Muslims.
The vice president, who has sought refuge in Turkey, says he is innocent and the victim of a political vendetta by Prime Minister Nouri al-Maliki, a Shiite.
Al-Maliki is facing mounting complaints from within his broad-based unity government that he is excluding minority Sunni and Kurdish coalition partners from power.
source
Iraq energy auction ends with 3 of 12 lots sold, tough contracts for unexplored areas blamed ...
May 31, 2012
Iraq energy auction ends with 3 of 12 lots sold, tough contracts for unexplored areas blamed
Baghdad, An Iraqi oil official says the government has sold the rights to only three of 12 oil and natural gas exploration blocks in a two-day energy auction.
The lukewarm response was largely blamed on tough contract terms and the fact that only unexplored areas were offered. In three previous energy auctions since 2009, bidders competed for known oil and gas fields.
Oil Ministry spokesman Assem Jihad says that in Thursday's round, a group comprised of Russia's Lukoil and Inpex Corp. of Japan made a successful bid for oil exploration in southern Iraq. He says Pakistan Petroleum won a contract for natural gas exploration in the east of the country.
On Wednesday, a Kuwait-led consortium won rights to search for oil and gas in the south.
source
Iraq energy auction ends with 3 of 12 lots sold, tough contracts for unexplored areas blamed
Baghdad, An Iraqi oil official says the government has sold the rights to only three of 12 oil and natural gas exploration blocks in a two-day energy auction.
The lukewarm response was largely blamed on tough contract terms and the fact that only unexplored areas were offered. In three previous energy auctions since 2009, bidders competed for known oil and gas fields.
Oil Ministry spokesman Assem Jihad says that in Thursday's round, a group comprised of Russia's Lukoil and Inpex Corp. of Japan made a successful bid for oil exploration in southern Iraq. He says Pakistan Petroleum won a contract for natural gas exploration in the east of the country.
On Wednesday, a Kuwait-led consortium won rights to search for oil and gas in the south.
source
Wednesday, May 30, 2012
Yuan finally set to emerge on a global scale with China hot on heels of US as world's second largest economy ...
Related articles .. link .. Links ~ Dumping The Dollar And .. Related articles by Dr Nasser Saidi, Gulf News .. link .. Global Reserve Currency ~ Multi-polar Era Requires ... Global Reserve Currency ... .. link .. Iraqi Defense Minister Saadoun al-Dulaimi confirmed that Iraq sought to join the Gulf Cooperation Council ... ..and link .. *** Iraq and GCC ~ Rate $2.66 ? ~ It's Been Stated in 2009 ~ Gulf Dinar to be issued by the Gulf Central Bank and set at SR10, nearly $2.66 .. and .. link ..Gulf Unified Currency Will be One of Top Five .. and link .. Dubai ~ DIFC's drive to become a global financial centre as Dubai Government amends DIFC Law ... and .. link .. GCC oil and gas reserves are worth $18.3 trillion: DIFC Authority Report .. and ..link ..
May 31, 2012
Time for dollar, euro to step aside — the redback cometh
Yuan finally set to emerge on a global scale with China hot on heels of US as world's second largest economy
China is now the world's second biggest economy and is set to surpass the US by 2016 in real terms and by 2020 in absolute terms. It is already the biggest manufacturing economy and will be the world's biggest exporter in 2012. We are now living in a multi-polar world. But despite the growing economic and financial international role of China, its currency, the yuan, remains largely domestic.
There are increasing calls for the yuan to become an international payment, investment and reserve currency. The move towards yuan internationalisation requires domestic structural reforms and financial market development.
China's 12th five year plan objectives provide for gradual capital account convertibility and removal of internal financial distortions.
This requires interest rate liberalisation and the development of money market instruments and debt capital markets: the "Redback Market".
source
Iraq ~ Advisor to the Central Bank reveals the formation of a committee to make a decision to delete the zeros of the dinar
Wednesday, 30 May 2012Advisor to the Central Bank reveals the formation of a committee to make a decision to delete the zeros of the dinar
Revealed Advisor and Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh, a proposal made by the aim to form a committee consisting of a number of deputies and representatives of the Council of Ministers and the Central Bank, to study the process of deleting the zeros of the Iraqi currency.
Saleh pointed out in a statement to PUKmedia , Wednesday, that the committee will be in the same time, the decision-maker in the case study and its agreement regarding the deletion of three zeros from the Iraqi currency, indicating that the deletion of zeros is the restructuring of the currency and reduce the amount of circulation, saying it would reduce the throwing order arithmetic In addition to reducing the number of leaves.
Salih noted that it must issue a new currency commensurate with the new phase, because Iraq is over a period of conflict and war, stressing the need to reduce inflation in the new phase, in addition to that the banks have become not bear the amount of money and the account, noting the lack of coins and small metal long for old paper and up to 30 years.
It is noteworthy that some economists believe that Iraq is ready for the time being to delete the zeros of the dinar, pointing out that the deletion needs to be a security and political stability as well as economic stability.
The Finance Committee of the House of Representatives has revealed for PUKmedia , as for the General Secretariat of the Council of Ministers called on the central bank to wait in the issue of replacing the Iraqi dinar.
She said committee member Najiba Najib in an earlier statement PUKmedia , the central bank at the last meeting with the Finance Committee confirmed the completion of preparations to alter the currency, noting that the bank received a letter from the General Secretariat of the Council of Ministers invites him to wait and without setting a date certain.
Najib added that the Secretariat of the reasons attributed to patient demand factors, notably the rise of the dollar, and the need to maintain currency stability and lack of effect on the replacement market and the total inflation.
This was the central bank has said fixing the exchange rate of the dinar against the dollar at 1189 dinars to the dollar after the addition of 13 dinars, the bank commission and profit banking companies ten dinars to the dollar.
The committee of economy and investment in the House of Representatives for the PUKmedia , that the installation of the Central Bank exchange rate of the dinar against the dollar to 1189 dinars to the dollar in proportion to the real value of the dinar, noting that the exchange rate at 1000 dinars to the dollar takes time. As stressed that the process of switching the currency needs to legislation.
The member of the Committee Deputy Qusai al-Abadi said in a statement earlier PUKmedia , that the real value of the dinar match the price set by the Bank in light of improved economic conditions and witnessed by the Iraqi market of recovery, stressing that the exchange rate at 1000 dinars to the dollar needs a longer time, denied that Central Bank has set a date for the process of determining the price for a thousand.
The Abadi, that the client switch currency need to be legislation, noting that it has not been raised formally at the House of Representatives so far, pointing out that if it were just standing on the deletion of zeros as needed to the legislation, but the switch currency means a new structure it needs to be legislation to do so.
source
Going Global Headline News For May 30, 2012 ...
May 31st - June 3rd ~ Bilderbergers Rumored to be Returning to Virginia; Will Rubio Attend?
May 31, 2012 ~ Bush to return to White House for portrait unveiling ...
Yuan finally set to emerge on a global scale with China hot on heels of US as world's second largest economy ...
GET READY: Here Comes The Busiest 48 Hours In The History Of Economics
Obama signs Export-Import Bank bill
Kuwaiti-led oil consortium wins deal on Iraq's oil block
Iraq and UN ~ Jaafari discuss with Kobler activating the role of the United Nations in support of Iraqi democratic experience
Maliki .. No-confidence vote ~ 9 blocks refuses to withdraw confidence from the government
Today, Friday .. Trial of al-Hashemi
Iraq and Japan June 7th ~ Japanese delegation to visit Baghdad next month to sign an agreement to encourage investment .. and.. link .. Baghdad and Tokyo sign economic cooperation agreement
Parliament rejects the economic slowdown in the application of tariff
Iraqi president Taliabani rejects move to unseat prime minister, Maliki ...
New measures to integrate returning Iraqi refugees ...
Poland's Upset ~ Obama should have made it clear that the death camps were run by Nazis in occupied Poland ...
State of emergency in Peru after two anti-Xstrata protestors died in clashes with police
Who's Afraid Of Cancer?
Maliki No Confidence Growing ~ "Promises had not seen any Iraqi citizen implementation" as saying ...
Iraq, Expanded Meeting To Follow ~ Talabani and Barzani began meeting to discuss the political crisis ...
Kuwaiti Embassy in Iraq has recently announced the entry of 50 companies entering Iraq at the end of May - Kuwait to support free trade ...
Iraq's New Oil War? ....
Iraq Oil and Gas ~ May 30th and 31st ~ Iraq set to auction new oil, gas blocks ...
Eurozone braces for Wednesday's annual economic and public finance report ..
Important meeting Wednesday! ~ The meeting tomorrow will put an end to dictatorship and will contribute to building democracy in Iraq ...
May 31, 2012 ~ Bush to return to White House for portrait unveiling ...
Yuan finally set to emerge on a global scale with China hot on heels of US as world's second largest economy ...
GET READY: Here Comes The Busiest 48 Hours In The History Of Economics
Obama signs Export-Import Bank bill
Kuwaiti-led oil consortium wins deal on Iraq's oil block
Iraq and UN ~ Jaafari discuss with Kobler activating the role of the United Nations in support of Iraqi democratic experience
Maliki .. No-confidence vote ~ 9 blocks refuses to withdraw confidence from the government
Today, Friday .. Trial of al-Hashemi
Iraq and Japan June 7th ~ Japanese delegation to visit Baghdad next month to sign an agreement to encourage investment .. and.. link .. Baghdad and Tokyo sign economic cooperation agreement
Parliament rejects the economic slowdown in the application of tariff
Iraqi president Taliabani rejects move to unseat prime minister, Maliki ...
New measures to integrate returning Iraqi refugees ...
Poland's Upset ~ Obama should have made it clear that the death camps were run by Nazis in occupied Poland ...
State of emergency in Peru after two anti-Xstrata protestors died in clashes with police
Who's Afraid Of Cancer?
Maliki No Confidence Growing ~ "Promises had not seen any Iraqi citizen implementation" as saying ...
Iraq, Expanded Meeting To Follow ~ Talabani and Barzani began meeting to discuss the political crisis ...
Kuwaiti Embassy in Iraq has recently announced the entry of 50 companies entering Iraq at the end of May - Kuwait to support free trade ...
Iraq's New Oil War? ....
Iraq Oil and Gas ~ May 30th and 31st ~ Iraq set to auction new oil, gas blocks ...
Eurozone braces for Wednesday's annual economic and public finance report ..
Important meeting Wednesday! ~ The meeting tomorrow will put an end to dictatorship and will contribute to building democracy in Iraq ...
May 31st - June 3rd ~ Bilderbergers Rumored to be Returning to Virginia; Will Rubio Attend?
Related article .. link .. EU Plans to Impose National Internet IDs
Tuesday, 08 May 2012
Bilderbergers Rumored to be Returning to Virginia; Will Rubio Attend?
On the last day of May the Bilderberg Group will meet in Chantilly, Virginia.
Despite rumors pointing to Haifa, Israel, as the chosen venue, according to the information being spread around conservative websites, from May 31 to June 3, the super-secretive and immeasurably influential Bilderberg Group will congregate at the Marriott Westfields Washington Dulles Hotel and Conference Center located in a Washington, D.C., suburb. (Pictured, above left)
The Bilderberg Group gets its name from the hotel in the Netherlands where its first meeting was held in 1954. After years of maintaining a tight lid on all its activities, recently the association has established a web presence where press releases are published, as well as rosters of invitees. Such disclosures beg the question, however, of why a group that goes to extraordinary lengths to cloak its conferences in secrecy would offer such information on the internet.
While the Bilderbergers are notoriously tight-lipped about both the people and the program, there is evidence from past gatherings that perhaps one item on the agenda might be the vetting of a vice-presidential running mate for presumptive Republican nominee Mitt Romney.
This wouldn’t be the first time the Bilderberg group has played a role in that selection. In 2004, for example, John Edwards was invited to speak at the confab, an honor that resulted in his placement on the Democratic Party ticket with John Kerry. Then, in 2008, a similar scenario led to Barack Obama’s “choosing” of Joe Biden to be his VP.
This year, the smart money is on Marco Rubio’s chances to get the nod to fill the second seat in the GOP’s 2012 offering. Just last month he jetted down to Colombia to hobnob with the hemisphere’s elite at the Summit of the Americas. This is certainly a smart move for someone who wants to attract the attention of the movers and shakers that might have a spot on the unofficial selection committee later this month in Chantilly.
Even the Washington Post remarks on the Bilderberg role in the running mate sweepstakes and how Kerry's star ascended after an appearance before the Bilderbergers. If Rubio's attendance at this year's meeting is confirmed, will the suspicion of the conference's undue influence on the electoral process increase?
Some observers are suggesting that apart from Rubio, fellow summitteers, President Barack Obama and Secretary of State Hilary Clinton might also show up at the annual gathering of the world’s banking, industrial, political, and technological elite.
Four years ago, Obama and Clinton snuck away from the all-seeing eye of the press and apparently attended the Bilderberg meeting that was being held in Virginia and it is believed by many that it was there that the cadre of power brokers convinced Hilary Clinton to step aside and allow Barack Obama to ascend to the top of the Democratic ticket.
Hillary’s husband, then-Arkansas Governor Bill Clinton, received a warmer reception by the group when he attended the 1991 Bilderberg conference. Although all but unknown at that time of his audience with the Bilderbergers, the following year, Clinton was elected President of the United States.
In point of fact, representatives of American officialdom pow-wow with the powerful rather regularly. Politico reports that the year after that 2008 globalists get-together in the Old Dominion, key members of the Obama Administration addressed the attendees:
(Richard) Holbrooke, a State Department special envoy, briefed attendees on the Obama administration’s unified approach to dealing with Afghanistan and Pakistan.
Read Full Article Here
Tuesday, 08 May 2012
Bilderbergers Rumored to be Returning to Virginia; Will Rubio Attend?
On the last day of May the Bilderberg Group will meet in Chantilly, Virginia.
Despite rumors pointing to Haifa, Israel, as the chosen venue, according to the information being spread around conservative websites, from May 31 to June 3, the super-secretive and immeasurably influential Bilderberg Group will congregate at the Marriott Westfields Washington Dulles Hotel and Conference Center located in a Washington, D.C., suburb. (Pictured, above left)
The Bilderberg Group gets its name from the hotel in the Netherlands where its first meeting was held in 1954. After years of maintaining a tight lid on all its activities, recently the association has established a web presence where press releases are published, as well as rosters of invitees. Such disclosures beg the question, however, of why a group that goes to extraordinary lengths to cloak its conferences in secrecy would offer such information on the internet.
While the Bilderbergers are notoriously tight-lipped about both the people and the program, there is evidence from past gatherings that perhaps one item on the agenda might be the vetting of a vice-presidential running mate for presumptive Republican nominee Mitt Romney.
This wouldn’t be the first time the Bilderberg group has played a role in that selection. In 2004, for example, John Edwards was invited to speak at the confab, an honor that resulted in his placement on the Democratic Party ticket with John Kerry. Then, in 2008, a similar scenario led to Barack Obama’s “choosing” of Joe Biden to be his VP.
This year, the smart money is on Marco Rubio’s chances to get the nod to fill the second seat in the GOP’s 2012 offering. Just last month he jetted down to Colombia to hobnob with the hemisphere’s elite at the Summit of the Americas. This is certainly a smart move for someone who wants to attract the attention of the movers and shakers that might have a spot on the unofficial selection committee later this month in Chantilly.
Even the Washington Post remarks on the Bilderberg role in the running mate sweepstakes and how Kerry's star ascended after an appearance before the Bilderbergers. If Rubio's attendance at this year's meeting is confirmed, will the suspicion of the conference's undue influence on the electoral process increase?
Some observers are suggesting that apart from Rubio, fellow summitteers, President Barack Obama and Secretary of State Hilary Clinton might also show up at the annual gathering of the world’s banking, industrial, political, and technological elite.
Four years ago, Obama and Clinton snuck away from the all-seeing eye of the press and apparently attended the Bilderberg meeting that was being held in Virginia and it is believed by many that it was there that the cadre of power brokers convinced Hilary Clinton to step aside and allow Barack Obama to ascend to the top of the Democratic ticket.
Hillary’s husband, then-Arkansas Governor Bill Clinton, received a warmer reception by the group when he attended the 1991 Bilderberg conference. Although all but unknown at that time of his audience with the Bilderbergers, the following year, Clinton was elected President of the United States.
In point of fact, representatives of American officialdom pow-wow with the powerful rather regularly. Politico reports that the year after that 2008 globalists get-together in the Old Dominion, key members of the Obama Administration addressed the attendees:
(Richard) Holbrooke, a State Department special envoy, briefed attendees on the Obama administration’s unified approach to dealing with Afghanistan and Pakistan.
Read Full Article Here
May 31, 2012 ~ Bush to return to White House for portrait unveiling ...
May 19, 2012Bush to return to White House for portrait unveiling
Former President George W. Bush plans to return to the White House for the unveiling of his official portrait later this month, marking a rare visit by the two-term president who has largely shunned the spotlight since leaving office
The White House and Bush's office said Bush and former first lady Laura Bush will return to the White House on May 31 for the release of their portraits.
Bush has avoided politics since he left office in January 2009. The portrait ceremony will be his first visit to the White House in more than two years.
GET READY: Here Comes The Busiest 48 Hours In The History Of Economics
May 30, 2012
GET READY: Here Comes The Busiest 48 Hours In The History Of Economics
Tonight begins what we suspect will be the busiest 48 hours in the history of economics.
Thanks to the shortened week, and just generally the scheduling of events, what starts tonight is going to be epic.
We're just going to run through all the data and events, which start tonight.
At 7:00 PM ET tonight we get Korean industrial production. Following that at 7:50 comes Japanese industrial production. Those will both give good insight into the state of the Asian economy.
There are a few more scattered reports overnight (e.g. German retail sales at 2:00 AM ET), but the real party starts tomorrow morning at 7:30 AM ET. That's when jobs week begins with the Challenger Jobs Cuts number.
That's followed up 45 minutes later at 8:15 AM ET with the ADP employment report, which is considered to be the most important preview of the official Non-Farm Payrolls Report (which comes out on Friday). Analysts expect to see 150K.
Then at 8:30 AM ET we get two more monster data points: Initial jobless claims (analysts expect a flat reading of 370K) and the second revision of Q1 GDP (analysts expect growth of 1.5 percent, which is the same as the last reading).
But the day is hardly done then!
At 9:45 AM ET comes the Chicago PMI report (a key regional indicator) and at 10:00 AM comes NAPM-Milwaukee.
On top of all these data points, as the day goes on, chain store sales will be updating their May figures.
But the day doesn't end there!
On top of all that, Ireland will be having a referendum on whether to join Europe's fiscal compact. It's likely to pass, but there's still a big undecided contingent that could wreck the whole thing in the end. Polls close at 10:00 PM Ireland time, but counting isn't expected until Friday morning.
The REAL fun, however, begins Thursday night...
That's when global PMI day kicks off.
PMI day is the first of every month, when countries around the world are surveyed on the health of their manufacturing sectors.
Via Markit, here's the full schedule (with times scheduled in UK time). The first one that people will be paying super close attention to will be the China PMI at 3:30 AM UK time, which is 10:30 PM Eastern Time
source
GET READY: Here Comes The Busiest 48 Hours In The History Of Economics
Tonight begins what we suspect will be the busiest 48 hours in the history of economics.
Thanks to the shortened week, and just generally the scheduling of events, what starts tonight is going to be epic.
We're just going to run through all the data and events, which start tonight.
At 7:00 PM ET tonight we get Korean industrial production. Following that at 7:50 comes Japanese industrial production. Those will both give good insight into the state of the Asian economy.
There are a few more scattered reports overnight (e.g. German retail sales at 2:00 AM ET), but the real party starts tomorrow morning at 7:30 AM ET. That's when jobs week begins with the Challenger Jobs Cuts number.
That's followed up 45 minutes later at 8:15 AM ET with the ADP employment report, which is considered to be the most important preview of the official Non-Farm Payrolls Report (which comes out on Friday). Analysts expect to see 150K.
Then at 8:30 AM ET we get two more monster data points: Initial jobless claims (analysts expect a flat reading of 370K) and the second revision of Q1 GDP (analysts expect growth of 1.5 percent, which is the same as the last reading).
But the day is hardly done then!
At 9:45 AM ET comes the Chicago PMI report (a key regional indicator) and at 10:00 AM comes NAPM-Milwaukee.
On top of all these data points, as the day goes on, chain store sales will be updating their May figures.
But the day doesn't end there!
On top of all that, Ireland will be having a referendum on whether to join Europe's fiscal compact. It's likely to pass, but there's still a big undecided contingent that could wreck the whole thing in the end. Polls close at 10:00 PM Ireland time, but counting isn't expected until Friday morning.
The REAL fun, however, begins Thursday night...
That's when global PMI day kicks off.
PMI day is the first of every month, when countries around the world are surveyed on the health of their manufacturing sectors.
Via Markit, here's the full schedule (with times scheduled in UK time). The first one that people will be paying super close attention to will be the China PMI at 3:30 AM UK time, which is 10:30 PM Eastern Time
source
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