JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER.
1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)
HOARDING OF GOLD AND SILVER
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
Doha Bank Expects Record Gold Sales on Stock Market Volatility-Mohammed Sergie-August 23, 2015 — 9:19 AM EDT-BLOOMBERG
Doha Bank QSC expects to sell a record 200 million riyals ($55 million) of gold this year as consumers take advantage of lower prices and investors seek a haven from falling equities and weakening currencies.The bank, the first lender authorized to import and sell gold in Qatar, took in 23,818 ounces in the first seven months of 2015 compared with 15,830 ounces in the same period last year, Samuel K.V., head of treasury trading and product management, said in a phone interview from Doha Sunday. Sales were worth 110 million riyals in the 2015 period, he said.More than $3.3 trillion has been erased from the value of global equities after China’s decision to devalue its currency spurred a wave of selling across emerging markets. Qatar’s QE Index of shares slumped 5.3 percent on Sunday as lower oil prices raised concern about growth prospects in the Middle East at the same time the Federal Reserve contemplates the first boost to interest rates since 2006.“Gold remains a solid bet for the future,” K.V. said. Demand is expected to rise due to the “big volatility in the Chinese stock market and currency” and the possibility of a delayed interest rate increase by the Fed.Gold rallied 4.1 percent last week to $1,160.77 an ounce on buying because of the equity selloff, along with speculation that the Fed may start to raise interest rates in December instead of next month.Low gold prices often trigger purchases of the precious metal in the Middle East and Asia, the World Gold Council said Aug. 13 when reporting that global gold demand slumped to a six-year low in the second quarter. Prices fell 10 percent in the past year, and traded at a five-year low of $1,077.40 an ounce in July.Demand for gold jewelry in the Middle East declined 20 percent and investment bar and coin consumption dropped 37 percent in the second quarter, the World Gold Council said. It cited an increased value added tax in Iran, lower oil prices and currency weakness. Oil has retreated 21 percent this year..
Kazakh PM Sees Oil-Nation Currency Pegs Axed as Crude Falls-Nariman Gizitdinov-Updated on August 22, 2015 — 2:04 PM EDT-BLOOMBERG
Currency pegs in crude-producing nations are set to topple as the world enters a “new era” of low oil prices, according to the prime minister of Kazakhstan, which rattled markets this week with a surprise decision to abandon control of its exchange rate.“At the end of the day, most of the oil-producing countries will go into the free-floating regime,” including Saudi Arabia and the United Arab Emirates, Karim Massimov said in an interview on Saturday in the capital, Astana. “I do not think that for the next three to five, maybe seven years, the price for commodities will come back to the level that it used to be at in 2014.”Central Asia’s biggest energy producer cut its currency loose on Thursday, triggering a 22 percent slide in the tenge to a record low versus the dollar. The move followed China’s shock devaluation of the yuan the week before, which drove down oil prices on concern global growth will stutter and nudged nations with managed exchange rates toward competitive devaluations of their own.More than $3.3 trillion has been erased from the value of global equities after China’s decision spurred a wave of selling across emerging markets. Brent crude touched a six year-low of $45.07 per barrel on Friday, while the Dow Jones Industrial Average entered a correction.“After I watched what is happening on the financial market and stock market in the U.S. on Friday night, I thought that we did it at the right time,” Massimov, 50, said in his office in the government’s headquarters. The decision avoided “big speculation and pressure this weekend in Kazakhstan,” he said.Competitive Disadvantage-The central bank spent $28 billion this and last year to support the tenge, including $10 billion in 2015, Kazakh President Nursultan Nazarbayev said this week. After its slump on Thursday, the currency rallied 7.4 percent to close at 234.99 against the dollar a day later. The country’s dollar bonds due July 2025 climbed after the announcement, lowering the yield nine basis points to 5.74 percent in the last two days of the week.Before the currency shift, Kazakhstan was at a competitive disadvantage to Russia, its neighbor and top trading partner along with China. The tenge had fallen by only 7.6 percent against he dollar in the 12 months up to Aug. 20, compared with a 46 percent depreciation for the ruble, while crude had plummeted 55 percent in the period.Commodity weakness means Kazakhstan’s record $4 billion foreign bond sale in July will be its last for the next three to five years, Massimov said. Instead the government will raise funds on the local market to cover the 2016 budget deficit, he said. Brent at about $40 to $45 a barrel next year will leave the government with a shortfall equivalent to 1.6 percent of gross domestic product, he predicted.Fiscal Pressure-The fiscal pressure may hasten reforms aimed at reducing the country’s dependence on energy exports. Bringing the tenge’s free float forward from its original start date of 2020 is one step on that path, he said.“Structural reforms, plus new economic policy will help us to change the structure of our economy, to adjust with the current situation,” he said.Eventually, the world’s biggest oil producers will follow Kazakhstan’s example and use devaluations to support their budgets as they compete for customers by keeping output high and prices low, Massimov predicted.“I believe at the end of the day they will have to do that,” he said. “They are working for their market share, not for the price.” Traders have been increasing bets that some currencies may be allowed to devalue in the six-nation Gulf Cooperation Council, which includes the United Arab Emirates and Saudi Arabia, the world’s largest oil exporter.Personal Finances-One-year forward contracts for the Saudi riyal jumped to the highest since 2003 last week, indicating some speculation the kingdom may adjust its peg of 3.75 riyals to the dollar. The country’s foreign reserves have dropped five months in a row and the government faces its second annual deficit amid the plunge in oil, which makes up 90 percent of Saudi Arabia’s revenue.The reaction in the Saudi forwards market may be “overdone,” Barclays Plc economists including Alia Moubayed wrote in an Aug. 21 research note. There remains ample liquidity in the banking market and the government’s external and domestic buffers remain solid, they said. Citigroup Inc. economist Farouk Soussa called the increase “unwarranted” in an Aug. 13 note.Similar contracts for the U.A.E.’s dirham also surged last week, to the highest since 2009. The country, whose currency is set at about 3.67 per dollar, is home to 6 percent of the world’s proven oil reserves. The central bank last year ruled out changing its peg even after oil dropped by about 50 percent from its peak.The U.A.E. and Saudi Arabia are among five GCC countries that keep their currencies pegged to the dollar. Kuwait links its dinar to a basket.Amid the turmoil in the global currency markets, Massimov sticks to a tried and tested strategy when it comes to his personal finances. The former head of Kazakh lender Halyk Savings Bank prefers to spread the risk by holding his cash in a variety of currencies.“I keep my personal currency as a basket,” he said. “I used to be a banker myself and I believe in a free market.”Outgoing Africa Development Bank President Donald Kaberuka said Saturday he didn’t see any currency risk in African countries because of Kazakhstan’s devaluation.“This is mainly related to other developments but nothing related to Kazakhstan,” Kaberuka said in an interview from Kigali, Rwanda. The decline in oil prices “has reduced pressures on currencies and reserves in oil importing countries.”
China's Neighbors Step Up Stock Market Support-Bloomberg News-August 23, 2015 — 8:39 AM EDT
China isn’t the only country resorting to extraordinary measures to shore up its tumbling stock market.Taiwan on Sunday slapped a ban on short-selling of borrowed stocks at prices lower than the previous day’s close, while South Korea’s finance ministry said it will act “pre-emptively” after the nation’s largest exchange-traded fund suffered the biggest weekly withdrawal since its inception 15 years ago. China itself said over the weekend it will allow pension funds to invest in stocks for the first time, while penalizing major shareholders at publicly traded companies for violating rules that limit stake sales.Benchmark stock gauges in Taiwan, Hong Kong and Indonesia entered bear markets last week after sliding at least 20 percent from recent peaks as China’s surprise devaluation of the yuan and prospects for the first U.S. interest-rate increase since 2006 triggered concern competitive devaluations will hurt economic growth and fund outflows will accelerate.“ Hopefully, Asian governments don’t panic from the current market turmoil and resort to knee-jerk decisions,” said Sandy Mehta, the chief executive officer of Hong Kong-based Value Investment Principals. “Competitive currency devaluations can become a zero-sum game if all countries resort to it.”In South Korea, financial authorities were ordered to hold meetings to monitor the markets and implement measures when necessary, the country’s Financial Services Commission said.Korean Tensions-Tensions between North and South Korea also drove the iShares MSCI South Korea Capped ETF, the largest exchange-traded fund tracking the country’s stocks, to its biggest weekly withdrawal since inception in 2000. Traders pulled $195.4 million from the ETF, whose top holdings include Samsung Electronics Co. and Hyundai Motor Co., in the five trading days ended Aug. 21, according to data compiled by Bloomberg. Taiwan’s financial watchdog imposed the ban on short-selling of borrowed stocks and depository receipts, the Financial Supervisory Commission announced. The measure will take effect on Monday, it said.While the rule doesn’t apply to brokerages and futures brokers who are shorting for hedging purposes, the regulator is working to encourage the financial industry to hold shares of listed companies, it said on its website. Taiwan’s benchmark index fell 5.2 percent last week.In Indonesia, the nation’s largest fund manager is taking the slump that’s driven stocks into a bear market as the cue to start buying again.-China Penalties-BPJS Ketenagakerjaan, which manages around 193 trillion rupiah ($13.8 billion), will enter the equities market along with other state-owned institutional investors, Elvyn Masassya, its president director, said in a text message on Sunday. Shares are “relatively cheap,” he said, without naming any.China securities regulator said late Friday it will penalize major shareholders at publicly traded companies, such as Southwest Securities Co. and Guoxing Rongda Real Estate Co., for violating rules that limit stake sales.The China Securities Regulatory Commission’s investigation focuses on whether shareholders sold their stakes beyond what rules allow, if they sold them during a moratorium period and whether they made timely disclosures, Zhang Xiaojun, a spokesman for the regulator in Beijing, told reporters. The benchmark Shanghai Composite Index plunged 4.3 percent on Friday, coming within one point of wiping out an 18 percent rebound since the July 8 low.The State Council, or cabinet, on Sunday announced it will allow pension funds to invest in new products, including the stock markets, while restricting the maximum proportion of investments in equities to 30 percent of total net assets. Pension funds had net assets of 3.5 trillion yuan ($547 billion) by the end of 2014, the official Xinhua News Agency reported.
China fears and global growth doubts grip markets-Reuters-By Sarah White – AUG 23,15-YAHOONEWS
MADRID (Reuters) - Markets will be watching for China's next move as signs of a slowdown in the world's second-largest economy stack up, raising expectations it will act to stoke growth.A looming snap election in Greece and a closely watched conference hosted by the Federal Reserve in the United States are also likely to keep investors on their toes next week, in particular as they look for hints on when the U.S. will raise interest rates.Fears that Chinese growth is weakening, dragging down the global economy with it, are already hammering commodities and world stock markets.Both tumbled on Friday after a survey showed Chinese manufacturing slowed the most since the global financial crisis in 2009 - adding to other worrying clues about the country's health, including its falling exports.China devalued the yuan earlier in August, by pushing its official guidance rate down 2 percent. The central bank has said there was no reason for the currency to fall further, but investors are also bracing for further interest rate cuts."It will be all eyes on the Chinese authorities for any further policy support steps, alongside the People's Bank of China yuan fixings and trading swings," analysts at Investec Economics said in a note to clients.China is also widely expected to relax reserve requirements ratios for its banks again in the coming months, a measure intended to spur lending by reducing the cash they need to hold. It is trying to keep its economy on course to grow 7 percent in 2015 - its slowest pace in a quarter of a century."We continue to expect a total of 100 basis points of reserve requirement ratio cuts by end-2015, with the first cut likely to take place within the next two weeks," economists at Standard Chartered said.The cash reserves ratio has already been cut three times this year.-EYES ON FED, GREECE-By the end of next week attention may shift away to the Rocky Mountains, where policymakers are due to gather from Aug. 27-29 for the Fed's conference of central bankers, finance ministers, academics and financial market participants in Jackson Hole.Fed chair Janet Yellen is not expected to attend, raising the prospect that other Fed officials may be more tight-lipped about the likelihood of the first rate increase in almost a decade, some analysts said.The prospect of an increase as soon as September receded this week as the Fed released minutes of July meeting. They gave no clear signals as to the timing of such a move - which would affect markets across the world and could cause more pain for emerging market assets, already being hit by China's woes.Fed policymakers are still concerned about the weakness of the global economy, the minutes showed, but they were also more confident about US growth prospects.Further clues on both matters should be gleaned from data releases this week, including second-quarter gross domestic product figures for the United States, due on Thursday.Quarter-on-quarter GDP growth in the period is expected to be revised upwards to 3.2 percent from 2.3 percent, according to a Reuters poll.In the euro zone, investors will also be looking at an German economic sentiment survey due on Tuesday for a better idea of the scope of the bloc's recovery.Preliminary August consumer price readings for Germany and Spain on Friday will provide further insight into how effective the European Central Bank's bond-buying efforts have been at warding off deflation.But the spotlight will mainly fall once again on Greece, where Prime Minister Alexis Tsipras has resigned. That opened the way for early elections after he secured much-needed funds from the country's third international bailout program.The current Greek government aims to strengthen its position in the election after accepting a rescue deal it once opposed. But that creates more uncertainty for markets already on edge over whether Greece will deliver on promised reforms and get its economy and banks back on track.(Additional reporting by Koh Gui King in Beijing, editing by Larry King)
IMF official says 'premature' to speak of Chinese crisis-Reuters-Sat, 22 Aug, 2015 10:23 AM EDT-YAHOONEWS
RIMINI, Italy (Reuters) - China's economic slowdown and a sharp fall in its stock market herald not a crisis but a "necessary" adjustment for the world's second biggest economy, a senior International Monetary Fund official said on Saturday.Fresh evidence of easing growth in China hammered global stock markets on Friday, driving Wall Street to its steepest one-day drop in nearly four years."Monetary policies have been very expansive in recent years and an adjustment is necessary," said Carlo Cottarelli, an IMF executive director representing countries such as Italy and Greece on its board."It's totally premature to speak of a crisis in China," he told a press conference.He reiterated an IMF forecast for a 6.8 percent expansion in the Chinese economy this year, below the 7.4 percent growth achieved in 2014."China's real economy is slowing but it's perfectly natural that this should happen ... What happened in recent days is a shock on financial markets which is natural," he added.China's stock markets have fallen more than 30 percent since mid-year. Following a slew of poor economic data, Beijing devalued the yuan in a surprise move last week.Cottarelli said the IMF would discuss in coming months with Chinese authorities their decision to weaken the currency.China is eager for the yuan to join the IMF's Special Drawing Rights basket of currencies. But the fund is considering extending the current SDR basket by nine months until September 30, 2016.Turning to Greece, which is heading to an early election in September, Cottarelli said the IMF would decide in two or three months whether to join the latest international rescue efforts.The IMF deems Greece's debt unsustainable and has called for debt relief as a condition to participate in a third bailout."The debt sustainability assessment will take place after the launch of the program (agreed with creditors) in two or three months. The IMF will then be able to evaluate whether to intervene," he said.(Reporting by Paolo Biondi, writing by Valentina Za; Editing by Gareth Jones)
TSX sinks to lowest since Feb 2014 on global growth worry-ReutersBy By Solarina Ho and Alastair Sharp | Reuters – Fri, 21 Aug, 2015-YAHOONEWS
TORONTO (Reuters) - Canada's main stock index sank to its lowest in 18 months on Friday, capping a week of rapid retreat on persistently grim global sentiment following more disappointing data out of China.Global equity markets plummeted toward their worst week this year, while the beating in commodities continued as data out of China showed manufacturing in the country was slowing at the fastest pace since the financial crisis in 2009. [MKTS/GLOB]The commodities-heavy TSX took another drubbing, with energy stocks falling 1.5 percent and materials sliding 2.9 percent. The hefty financials group, whose banks report quarterly results next week, fell 1.9 percent."There's not a lot of positive things that support the equity price," said Marcus Xu, a portfolio manager at M.Y. Capital Management Corp in Vancouver. "That's probably why people are getting a little panicked."The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed down 263.33 points, or 1.92 percent, at 13,473.67. It lost almost 6 percent in the week, its worst weekly slump since September 2011.Decliners outnumbered advancers by 224 to 21, and the index posted two new 52-week highs and 70 new 52-week lows."We're really breaking some really key levels. It's a sign that we're in a very severe correction," said John Johnston, chief strategist at Davis-Rea. "It's being driven by a continued slowdown in the global production cycle, which is so important for the demand for commodities." He said weakness in emerging markets could drag the global economy into a recession. Canadian Natural Resources fell 2.7 percent to C$26.80.Crude prices suffered their longest losing streak since 1986 following the dismal Chinese data, which also sent copper prices down. U.S. oil futures settled down more than 2 percent to $40.45 a barrel after falling as low as $39.86. Three-month copper on the London Metal Exchange ended down 1.3 percent to $5,055 a tonne. [O/R][MET/L]-Of the index's 10 main groups, only telecoms were on higher ground, up 0.8 percent. All the remaining sectors fell more than 1 percent, including consumer staples, which slumped 2.7 percent.Convenience store operator Alimentation Couche-Tard lost 5.9 percent to C$54.58.Royal Bank of Canada fell 1.7 percent to C$72.80 and was among the biggest drags on the TSX. Manulife Financial Corp was down 4.1 percent at C$20.46.In corporate news, Eldorado Gold Corp shares plunged 14 percent to C$4.48 after the company said on Thursday it suspended mining activities in northern Greece.(Reporting by Solarina Ho; Editing by James Dalgleish)
Egyptian stock market continues decline, falls to lowest level in almost 2 years-The Canadian PressBy The Associated Press | The Canadian Press – AUG 23,15-YAHOONEWS
CAIRO - Egypt's main stock index has fallen to its lowest level in almost two years.The market, known as EGX 30, closed at 6784.09 on Sunday, the start of the trading week, falling to its lowest level since December 2013.The 5.43-per cent drop came after a steady fall last week, and as other Middle Eastern markets also tumbled, and it follows an overall global slowdown. Dubai's stock market closed nearly seven per cent lower after a further slide in oil prices.Oil futures are continuing to fall because of ample supplies of crude and a slowing global economy. Brent crude, a benchmark for international oil, fell more than a dollar to close Friday at $45.46 while the price of U.S. crude closed at $40.45.
Iran says an OPEC emergency meeting may stop oil price slide: Shana-ReutersReuters – AUG 23,15-YAHOONEWS
DUBAI (Reuters) - Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an emergency OPEC meeting may be "effective" in stabilizing the oil price, Iran's oil ministry news agency Shana reported.Algeria said earlier this month that the Organization of Petroleum Exporting Countries could hold an emergency meeting to discuss the drop in oil prices but other OPEC delegates said no meeting was planned."Iran endorses an emergency OPEC meeting and would not disagree with it," Zanganeh told reporters in Tehran, according to Shana.U.S. oil prices fell below $40 a barrel on Friday for the first time since the 2009 financial crisis, pressured by signs of oversupply in the United States and weak Chinese manufacturing data. [O/R]-OPEC is not due to meet until Dec. 4.While OPEC rules say a simple majority of the 12 OPEC members is needed to call an emergency meeting before then, some OPEC delegates say a meeting is unlikely unless Saudi Arabia is in favor.Saudi Arabia, the world's top oil exporter, and other Gulf states pushed OPEC's strategy shift last year to defend market share rather than cut output to support prices.Relatively wealthy, they are better able to cope with low oil prices than Iran, Venezuela or African members.OPEC delegates see little chance of the exporting group diverting from its policy of defending market share, although the latest drop in prices is starting to sour the business mood even in Saudi Arabia.(Reporting by Rania El Gamal; Editing by Susan Fenton)
Biggest U.S. Stocks Look Like Global Havens to Bank of America-Oliver Renick-August 23, 2015 — 11:25 AM EDT-BLOOMBERG
To Bank of America Corp. equity strategist Savita Subramanian, the forces that torpedoed blue chip U.S. stocks last week may be the same ones that pull them back up.American equities joined foundering currencies and commodities around the world as the Standard & Poor’s 500 Index tumbled 5.8 percent and the Dow Jones Industrial Average entered a correction. Until now, U.S. stocks had been a pool of tranquility amid a slowdown in China, oil’s 60 percent plunge and geopolitical wrangling in Europe.While slowing global growth is behind the anxiety, it’s also a potential reason for optimism about the biggest S&P 500 companies, with the U.S. economy outpacing its peers, according to Subramanian. Profits in the index, which are falling now, are projected to rebound 10.5 percent in 2016 and 12.8 percent in 2017, analyst estimates compiled by Bloomberg show.“When Europe and China eclipse the U.S. we chug along, but when they’re in a down market, that’s when the U.S. really dominates,” Subramanian said in a phone interview. “From a quality perspective, all the boxes are checked off in the U.S. and that becomes more important to investors again.”U.S. gross domestic product rose at a 2.3 percent annualized rate in the second quarter, according to Commerce Department data reported on July 30. From the end of 2011 to the end of 2014, a period when the S&P 500 climbed 64 percent, the economy expanded at a 2.1 percent clip.-Currency Turmoil-Losses earlier in the week in American shares were limited as the rout in emerging-market assets deepened, with developing-nation equities sinking to the lowest level since 2009 and currencies from Malaysia to Kazakhstan tumbling. That changed Thursday as the S&P 500 wiped out gains for 2015 as investors sought the safety of gold and Treasuries.The stocks that have meant the most to U.S. investors have been swept up in the turmoil. Netflix Inc., Facebook Inc., Amazon.com Inc., Google Inc. and Apple Inc. have seen $139 billion in market value erased over two days.It’s those shares investors should turn to now more than ever, according to Jonathan Golub, the chief strategist for RBC Capital Markets LLC.-Innovating-“The one thing they have in common is none of them need a stronger economy to generate their revenues,” Golub said by phone. “They’re companies that are innovating and taking market share and in a slow global growth environment. Those characteristics are the whole market story.”The S&P 500 will rally 12 percent to 2,233 by year-end, according to the average estimate of Wall Street strategists surveyed by Bloomberg. Golub, who predicts the benchmark will go ever higher than that and land at 2,325, is joined by Thomas Lee, who sees the gauge ending at the same level. Subramanian has a year-end forecast of 2,200.“China has been a weak story for a while,” Lee, managing partner and co-founder of Fundstrat Global Advisors LLC, said by phone. “We’re getting to the point where the market is going to start looking for the fact that everyone is finished selling. I think that means we’re within days of a low.”
CHINA DEVALUES CURRENCY FOR AMERICAN INTEREST RATE RISE SPECULATION
http://israndjer.blogspot.ca/2015/08/10-currencies-that-may-follow.html
http://israndjer.blogspot.ca/2015/08/11-chinese-banks-ask-for-bailouts.html
http://israndjer.blogspot.ca/2015/08/north-korea-threatens-us-what-china.html
http://israndjer.blogspot.ca/2015/08/what-kinda-story-is-this-america-used.html
http://israndjer.blogspot.ca/2015/08/112-now-dead-722-injured-in-china-port.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-3rd-day.html
http://israndjer.blogspot.ca/2015/08/china-currency-wars-angers.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-second-day.html
http://israndjer.blogspot.ca/2015/08/china-devalues-its-currency-stocks-fall.html
GREECE NEWS
http://israndjer.blogspot.ca/2015/08/typhoons-fires-koreas-talk-planned.html
http://israndjer.blogspot.ca/2015/08/tsipras-resigns-for-greece-elections.html
http://israndjer.blogspot.ca/2015/08/china-says-it-arrested-15000-people-for.html
http://israndjer.blogspot.ca/2015/08/russia-and-nato-rehearsing-for-war.html
http://israndjer.blogspot.ca/2015/08/at-least-56-dead-720-injured-in-chinese.html
http://israndjer.blogspot.ca/2015/08/greece-lenders-clinch-bailout-deal.html
HOARDING OF GOLD AND SILVER
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
Doha Bank Expects Record Gold Sales on Stock Market Volatility-Mohammed Sergie-August 23, 2015 — 9:19 AM EDT-BLOOMBERG
Doha Bank QSC expects to sell a record 200 million riyals ($55 million) of gold this year as consumers take advantage of lower prices and investors seek a haven from falling equities and weakening currencies.The bank, the first lender authorized to import and sell gold in Qatar, took in 23,818 ounces in the first seven months of 2015 compared with 15,830 ounces in the same period last year, Samuel K.V., head of treasury trading and product management, said in a phone interview from Doha Sunday. Sales were worth 110 million riyals in the 2015 period, he said.More than $3.3 trillion has been erased from the value of global equities after China’s decision to devalue its currency spurred a wave of selling across emerging markets. Qatar’s QE Index of shares slumped 5.3 percent on Sunday as lower oil prices raised concern about growth prospects in the Middle East at the same time the Federal Reserve contemplates the first boost to interest rates since 2006.“Gold remains a solid bet for the future,” K.V. said. Demand is expected to rise due to the “big volatility in the Chinese stock market and currency” and the possibility of a delayed interest rate increase by the Fed.Gold rallied 4.1 percent last week to $1,160.77 an ounce on buying because of the equity selloff, along with speculation that the Fed may start to raise interest rates in December instead of next month.Low gold prices often trigger purchases of the precious metal in the Middle East and Asia, the World Gold Council said Aug. 13 when reporting that global gold demand slumped to a six-year low in the second quarter. Prices fell 10 percent in the past year, and traded at a five-year low of $1,077.40 an ounce in July.Demand for gold jewelry in the Middle East declined 20 percent and investment bar and coin consumption dropped 37 percent in the second quarter, the World Gold Council said. It cited an increased value added tax in Iran, lower oil prices and currency weakness. Oil has retreated 21 percent this year..
Kazakh PM Sees Oil-Nation Currency Pegs Axed as Crude Falls-Nariman Gizitdinov-Updated on August 22, 2015 — 2:04 PM EDT-BLOOMBERG
Currency pegs in crude-producing nations are set to topple as the world enters a “new era” of low oil prices, according to the prime minister of Kazakhstan, which rattled markets this week with a surprise decision to abandon control of its exchange rate.“At the end of the day, most of the oil-producing countries will go into the free-floating regime,” including Saudi Arabia and the United Arab Emirates, Karim Massimov said in an interview on Saturday in the capital, Astana. “I do not think that for the next three to five, maybe seven years, the price for commodities will come back to the level that it used to be at in 2014.”Central Asia’s biggest energy producer cut its currency loose on Thursday, triggering a 22 percent slide in the tenge to a record low versus the dollar. The move followed China’s shock devaluation of the yuan the week before, which drove down oil prices on concern global growth will stutter and nudged nations with managed exchange rates toward competitive devaluations of their own.More than $3.3 trillion has been erased from the value of global equities after China’s decision spurred a wave of selling across emerging markets. Brent crude touched a six year-low of $45.07 per barrel on Friday, while the Dow Jones Industrial Average entered a correction.“After I watched what is happening on the financial market and stock market in the U.S. on Friday night, I thought that we did it at the right time,” Massimov, 50, said in his office in the government’s headquarters. The decision avoided “big speculation and pressure this weekend in Kazakhstan,” he said.Competitive Disadvantage-The central bank spent $28 billion this and last year to support the tenge, including $10 billion in 2015, Kazakh President Nursultan Nazarbayev said this week. After its slump on Thursday, the currency rallied 7.4 percent to close at 234.99 against the dollar a day later. The country’s dollar bonds due July 2025 climbed after the announcement, lowering the yield nine basis points to 5.74 percent in the last two days of the week.Before the currency shift, Kazakhstan was at a competitive disadvantage to Russia, its neighbor and top trading partner along with China. The tenge had fallen by only 7.6 percent against he dollar in the 12 months up to Aug. 20, compared with a 46 percent depreciation for the ruble, while crude had plummeted 55 percent in the period.Commodity weakness means Kazakhstan’s record $4 billion foreign bond sale in July will be its last for the next three to five years, Massimov said. Instead the government will raise funds on the local market to cover the 2016 budget deficit, he said. Brent at about $40 to $45 a barrel next year will leave the government with a shortfall equivalent to 1.6 percent of gross domestic product, he predicted.Fiscal Pressure-The fiscal pressure may hasten reforms aimed at reducing the country’s dependence on energy exports. Bringing the tenge’s free float forward from its original start date of 2020 is one step on that path, he said.“Structural reforms, plus new economic policy will help us to change the structure of our economy, to adjust with the current situation,” he said.Eventually, the world’s biggest oil producers will follow Kazakhstan’s example and use devaluations to support their budgets as they compete for customers by keeping output high and prices low, Massimov predicted.“I believe at the end of the day they will have to do that,” he said. “They are working for their market share, not for the price.” Traders have been increasing bets that some currencies may be allowed to devalue in the six-nation Gulf Cooperation Council, which includes the United Arab Emirates and Saudi Arabia, the world’s largest oil exporter.Personal Finances-One-year forward contracts for the Saudi riyal jumped to the highest since 2003 last week, indicating some speculation the kingdom may adjust its peg of 3.75 riyals to the dollar. The country’s foreign reserves have dropped five months in a row and the government faces its second annual deficit amid the plunge in oil, which makes up 90 percent of Saudi Arabia’s revenue.The reaction in the Saudi forwards market may be “overdone,” Barclays Plc economists including Alia Moubayed wrote in an Aug. 21 research note. There remains ample liquidity in the banking market and the government’s external and domestic buffers remain solid, they said. Citigroup Inc. economist Farouk Soussa called the increase “unwarranted” in an Aug. 13 note.Similar contracts for the U.A.E.’s dirham also surged last week, to the highest since 2009. The country, whose currency is set at about 3.67 per dollar, is home to 6 percent of the world’s proven oil reserves. The central bank last year ruled out changing its peg even after oil dropped by about 50 percent from its peak.The U.A.E. and Saudi Arabia are among five GCC countries that keep their currencies pegged to the dollar. Kuwait links its dinar to a basket.Amid the turmoil in the global currency markets, Massimov sticks to a tried and tested strategy when it comes to his personal finances. The former head of Kazakh lender Halyk Savings Bank prefers to spread the risk by holding his cash in a variety of currencies.“I keep my personal currency as a basket,” he said. “I used to be a banker myself and I believe in a free market.”Outgoing Africa Development Bank President Donald Kaberuka said Saturday he didn’t see any currency risk in African countries because of Kazakhstan’s devaluation.“This is mainly related to other developments but nothing related to Kazakhstan,” Kaberuka said in an interview from Kigali, Rwanda. The decline in oil prices “has reduced pressures on currencies and reserves in oil importing countries.”
China's Neighbors Step Up Stock Market Support-Bloomberg News-August 23, 2015 — 8:39 AM EDT
China isn’t the only country resorting to extraordinary measures to shore up its tumbling stock market.Taiwan on Sunday slapped a ban on short-selling of borrowed stocks at prices lower than the previous day’s close, while South Korea’s finance ministry said it will act “pre-emptively” after the nation’s largest exchange-traded fund suffered the biggest weekly withdrawal since its inception 15 years ago. China itself said over the weekend it will allow pension funds to invest in stocks for the first time, while penalizing major shareholders at publicly traded companies for violating rules that limit stake sales.Benchmark stock gauges in Taiwan, Hong Kong and Indonesia entered bear markets last week after sliding at least 20 percent from recent peaks as China’s surprise devaluation of the yuan and prospects for the first U.S. interest-rate increase since 2006 triggered concern competitive devaluations will hurt economic growth and fund outflows will accelerate.“ Hopefully, Asian governments don’t panic from the current market turmoil and resort to knee-jerk decisions,” said Sandy Mehta, the chief executive officer of Hong Kong-based Value Investment Principals. “Competitive currency devaluations can become a zero-sum game if all countries resort to it.”In South Korea, financial authorities were ordered to hold meetings to monitor the markets and implement measures when necessary, the country’s Financial Services Commission said.Korean Tensions-Tensions between North and South Korea also drove the iShares MSCI South Korea Capped ETF, the largest exchange-traded fund tracking the country’s stocks, to its biggest weekly withdrawal since inception in 2000. Traders pulled $195.4 million from the ETF, whose top holdings include Samsung Electronics Co. and Hyundai Motor Co., in the five trading days ended Aug. 21, according to data compiled by Bloomberg. Taiwan’s financial watchdog imposed the ban on short-selling of borrowed stocks and depository receipts, the Financial Supervisory Commission announced. The measure will take effect on Monday, it said.While the rule doesn’t apply to brokerages and futures brokers who are shorting for hedging purposes, the regulator is working to encourage the financial industry to hold shares of listed companies, it said on its website. Taiwan’s benchmark index fell 5.2 percent last week.In Indonesia, the nation’s largest fund manager is taking the slump that’s driven stocks into a bear market as the cue to start buying again.-China Penalties-BPJS Ketenagakerjaan, which manages around 193 trillion rupiah ($13.8 billion), will enter the equities market along with other state-owned institutional investors, Elvyn Masassya, its president director, said in a text message on Sunday. Shares are “relatively cheap,” he said, without naming any.China securities regulator said late Friday it will penalize major shareholders at publicly traded companies, such as Southwest Securities Co. and Guoxing Rongda Real Estate Co., for violating rules that limit stake sales.The China Securities Regulatory Commission’s investigation focuses on whether shareholders sold their stakes beyond what rules allow, if they sold them during a moratorium period and whether they made timely disclosures, Zhang Xiaojun, a spokesman for the regulator in Beijing, told reporters. The benchmark Shanghai Composite Index plunged 4.3 percent on Friday, coming within one point of wiping out an 18 percent rebound since the July 8 low.The State Council, or cabinet, on Sunday announced it will allow pension funds to invest in new products, including the stock markets, while restricting the maximum proportion of investments in equities to 30 percent of total net assets. Pension funds had net assets of 3.5 trillion yuan ($547 billion) by the end of 2014, the official Xinhua News Agency reported.
China fears and global growth doubts grip markets-Reuters-By Sarah White – AUG 23,15-YAHOONEWS
MADRID (Reuters) - Markets will be watching for China's next move as signs of a slowdown in the world's second-largest economy stack up, raising expectations it will act to stoke growth.A looming snap election in Greece and a closely watched conference hosted by the Federal Reserve in the United States are also likely to keep investors on their toes next week, in particular as they look for hints on when the U.S. will raise interest rates.Fears that Chinese growth is weakening, dragging down the global economy with it, are already hammering commodities and world stock markets.Both tumbled on Friday after a survey showed Chinese manufacturing slowed the most since the global financial crisis in 2009 - adding to other worrying clues about the country's health, including its falling exports.China devalued the yuan earlier in August, by pushing its official guidance rate down 2 percent. The central bank has said there was no reason for the currency to fall further, but investors are also bracing for further interest rate cuts."It will be all eyes on the Chinese authorities for any further policy support steps, alongside the People's Bank of China yuan fixings and trading swings," analysts at Investec Economics said in a note to clients.China is also widely expected to relax reserve requirements ratios for its banks again in the coming months, a measure intended to spur lending by reducing the cash they need to hold. It is trying to keep its economy on course to grow 7 percent in 2015 - its slowest pace in a quarter of a century."We continue to expect a total of 100 basis points of reserve requirement ratio cuts by end-2015, with the first cut likely to take place within the next two weeks," economists at Standard Chartered said.The cash reserves ratio has already been cut three times this year.-EYES ON FED, GREECE-By the end of next week attention may shift away to the Rocky Mountains, where policymakers are due to gather from Aug. 27-29 for the Fed's conference of central bankers, finance ministers, academics and financial market participants in Jackson Hole.Fed chair Janet Yellen is not expected to attend, raising the prospect that other Fed officials may be more tight-lipped about the likelihood of the first rate increase in almost a decade, some analysts said.The prospect of an increase as soon as September receded this week as the Fed released minutes of July meeting. They gave no clear signals as to the timing of such a move - which would affect markets across the world and could cause more pain for emerging market assets, already being hit by China's woes.Fed policymakers are still concerned about the weakness of the global economy, the minutes showed, but they were also more confident about US growth prospects.Further clues on both matters should be gleaned from data releases this week, including second-quarter gross domestic product figures for the United States, due on Thursday.Quarter-on-quarter GDP growth in the period is expected to be revised upwards to 3.2 percent from 2.3 percent, according to a Reuters poll.In the euro zone, investors will also be looking at an German economic sentiment survey due on Tuesday for a better idea of the scope of the bloc's recovery.Preliminary August consumer price readings for Germany and Spain on Friday will provide further insight into how effective the European Central Bank's bond-buying efforts have been at warding off deflation.But the spotlight will mainly fall once again on Greece, where Prime Minister Alexis Tsipras has resigned. That opened the way for early elections after he secured much-needed funds from the country's third international bailout program.The current Greek government aims to strengthen its position in the election after accepting a rescue deal it once opposed. But that creates more uncertainty for markets already on edge over whether Greece will deliver on promised reforms and get its economy and banks back on track.(Additional reporting by Koh Gui King in Beijing, editing by Larry King)
IMF official says 'premature' to speak of Chinese crisis-Reuters-Sat, 22 Aug, 2015 10:23 AM EDT-YAHOONEWS
RIMINI, Italy (Reuters) - China's economic slowdown and a sharp fall in its stock market herald not a crisis but a "necessary" adjustment for the world's second biggest economy, a senior International Monetary Fund official said on Saturday.Fresh evidence of easing growth in China hammered global stock markets on Friday, driving Wall Street to its steepest one-day drop in nearly four years."Monetary policies have been very expansive in recent years and an adjustment is necessary," said Carlo Cottarelli, an IMF executive director representing countries such as Italy and Greece on its board."It's totally premature to speak of a crisis in China," he told a press conference.He reiterated an IMF forecast for a 6.8 percent expansion in the Chinese economy this year, below the 7.4 percent growth achieved in 2014."China's real economy is slowing but it's perfectly natural that this should happen ... What happened in recent days is a shock on financial markets which is natural," he added.China's stock markets have fallen more than 30 percent since mid-year. Following a slew of poor economic data, Beijing devalued the yuan in a surprise move last week.Cottarelli said the IMF would discuss in coming months with Chinese authorities their decision to weaken the currency.China is eager for the yuan to join the IMF's Special Drawing Rights basket of currencies. But the fund is considering extending the current SDR basket by nine months until September 30, 2016.Turning to Greece, which is heading to an early election in September, Cottarelli said the IMF would decide in two or three months whether to join the latest international rescue efforts.The IMF deems Greece's debt unsustainable and has called for debt relief as a condition to participate in a third bailout."The debt sustainability assessment will take place after the launch of the program (agreed with creditors) in two or three months. The IMF will then be able to evaluate whether to intervene," he said.(Reporting by Paolo Biondi, writing by Valentina Za; Editing by Gareth Jones)
TSX sinks to lowest since Feb 2014 on global growth worry-ReutersBy By Solarina Ho and Alastair Sharp | Reuters – Fri, 21 Aug, 2015-YAHOONEWS
TORONTO (Reuters) - Canada's main stock index sank to its lowest in 18 months on Friday, capping a week of rapid retreat on persistently grim global sentiment following more disappointing data out of China.Global equity markets plummeted toward their worst week this year, while the beating in commodities continued as data out of China showed manufacturing in the country was slowing at the fastest pace since the financial crisis in 2009. [MKTS/GLOB]The commodities-heavy TSX took another drubbing, with energy stocks falling 1.5 percent and materials sliding 2.9 percent. The hefty financials group, whose banks report quarterly results next week, fell 1.9 percent."There's not a lot of positive things that support the equity price," said Marcus Xu, a portfolio manager at M.Y. Capital Management Corp in Vancouver. "That's probably why people are getting a little panicked."The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed down 263.33 points, or 1.92 percent, at 13,473.67. It lost almost 6 percent in the week, its worst weekly slump since September 2011.Decliners outnumbered advancers by 224 to 21, and the index posted two new 52-week highs and 70 new 52-week lows."We're really breaking some really key levels. It's a sign that we're in a very severe correction," said John Johnston, chief strategist at Davis-Rea. "It's being driven by a continued slowdown in the global production cycle, which is so important for the demand for commodities." He said weakness in emerging markets could drag the global economy into a recession. Canadian Natural Resources fell 2.7 percent to C$26.80.Crude prices suffered their longest losing streak since 1986 following the dismal Chinese data, which also sent copper prices down. U.S. oil futures settled down more than 2 percent to $40.45 a barrel after falling as low as $39.86. Three-month copper on the London Metal Exchange ended down 1.3 percent to $5,055 a tonne. [O/R][MET/L]-Of the index's 10 main groups, only telecoms were on higher ground, up 0.8 percent. All the remaining sectors fell more than 1 percent, including consumer staples, which slumped 2.7 percent.Convenience store operator Alimentation Couche-Tard lost 5.9 percent to C$54.58.Royal Bank of Canada fell 1.7 percent to C$72.80 and was among the biggest drags on the TSX. Manulife Financial Corp was down 4.1 percent at C$20.46.In corporate news, Eldorado Gold Corp shares plunged 14 percent to C$4.48 after the company said on Thursday it suspended mining activities in northern Greece.(Reporting by Solarina Ho; Editing by James Dalgleish)
Egyptian stock market continues decline, falls to lowest level in almost 2 years-The Canadian PressBy The Associated Press | The Canadian Press – AUG 23,15-YAHOONEWS
CAIRO - Egypt's main stock index has fallen to its lowest level in almost two years.The market, known as EGX 30, closed at 6784.09 on Sunday, the start of the trading week, falling to its lowest level since December 2013.The 5.43-per cent drop came after a steady fall last week, and as other Middle Eastern markets also tumbled, and it follows an overall global slowdown. Dubai's stock market closed nearly seven per cent lower after a further slide in oil prices.Oil futures are continuing to fall because of ample supplies of crude and a slowing global economy. Brent crude, a benchmark for international oil, fell more than a dollar to close Friday at $45.46 while the price of U.S. crude closed at $40.45.
Iran says an OPEC emergency meeting may stop oil price slide: Shana-ReutersReuters – AUG 23,15-YAHOONEWS
DUBAI (Reuters) - Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an emergency OPEC meeting may be "effective" in stabilizing the oil price, Iran's oil ministry news agency Shana reported.Algeria said earlier this month that the Organization of Petroleum Exporting Countries could hold an emergency meeting to discuss the drop in oil prices but other OPEC delegates said no meeting was planned."Iran endorses an emergency OPEC meeting and would not disagree with it," Zanganeh told reporters in Tehran, according to Shana.U.S. oil prices fell below $40 a barrel on Friday for the first time since the 2009 financial crisis, pressured by signs of oversupply in the United States and weak Chinese manufacturing data. [O/R]-OPEC is not due to meet until Dec. 4.While OPEC rules say a simple majority of the 12 OPEC members is needed to call an emergency meeting before then, some OPEC delegates say a meeting is unlikely unless Saudi Arabia is in favor.Saudi Arabia, the world's top oil exporter, and other Gulf states pushed OPEC's strategy shift last year to defend market share rather than cut output to support prices.Relatively wealthy, they are better able to cope with low oil prices than Iran, Venezuela or African members.OPEC delegates see little chance of the exporting group diverting from its policy of defending market share, although the latest drop in prices is starting to sour the business mood even in Saudi Arabia.(Reporting by Rania El Gamal; Editing by Susan Fenton)
Biggest U.S. Stocks Look Like Global Havens to Bank of America-Oliver Renick-August 23, 2015 — 11:25 AM EDT-BLOOMBERG
To Bank of America Corp. equity strategist Savita Subramanian, the forces that torpedoed blue chip U.S. stocks last week may be the same ones that pull them back up.American equities joined foundering currencies and commodities around the world as the Standard & Poor’s 500 Index tumbled 5.8 percent and the Dow Jones Industrial Average entered a correction. Until now, U.S. stocks had been a pool of tranquility amid a slowdown in China, oil’s 60 percent plunge and geopolitical wrangling in Europe.While slowing global growth is behind the anxiety, it’s also a potential reason for optimism about the biggest S&P 500 companies, with the U.S. economy outpacing its peers, according to Subramanian. Profits in the index, which are falling now, are projected to rebound 10.5 percent in 2016 and 12.8 percent in 2017, analyst estimates compiled by Bloomberg show.“When Europe and China eclipse the U.S. we chug along, but when they’re in a down market, that’s when the U.S. really dominates,” Subramanian said in a phone interview. “From a quality perspective, all the boxes are checked off in the U.S. and that becomes more important to investors again.”U.S. gross domestic product rose at a 2.3 percent annualized rate in the second quarter, according to Commerce Department data reported on July 30. From the end of 2011 to the end of 2014, a period when the S&P 500 climbed 64 percent, the economy expanded at a 2.1 percent clip.-Currency Turmoil-Losses earlier in the week in American shares were limited as the rout in emerging-market assets deepened, with developing-nation equities sinking to the lowest level since 2009 and currencies from Malaysia to Kazakhstan tumbling. That changed Thursday as the S&P 500 wiped out gains for 2015 as investors sought the safety of gold and Treasuries.The stocks that have meant the most to U.S. investors have been swept up in the turmoil. Netflix Inc., Facebook Inc., Amazon.com Inc., Google Inc. and Apple Inc. have seen $139 billion in market value erased over two days.It’s those shares investors should turn to now more than ever, according to Jonathan Golub, the chief strategist for RBC Capital Markets LLC.-Innovating-“The one thing they have in common is none of them need a stronger economy to generate their revenues,” Golub said by phone. “They’re companies that are innovating and taking market share and in a slow global growth environment. Those characteristics are the whole market story.”The S&P 500 will rally 12 percent to 2,233 by year-end, according to the average estimate of Wall Street strategists surveyed by Bloomberg. Golub, who predicts the benchmark will go ever higher than that and land at 2,325, is joined by Thomas Lee, who sees the gauge ending at the same level. Subramanian has a year-end forecast of 2,200.“China has been a weak story for a while,” Lee, managing partner and co-founder of Fundstrat Global Advisors LLC, said by phone. “We’re getting to the point where the market is going to start looking for the fact that everyone is finished selling. I think that means we’re within days of a low.”
CHINA DEVALUES CURRENCY FOR AMERICAN INTEREST RATE RISE SPECULATION
http://israndjer.blogspot.ca/2015/08/10-currencies-that-may-follow.html
http://israndjer.blogspot.ca/2015/08/11-chinese-banks-ask-for-bailouts.html
http://israndjer.blogspot.ca/2015/08/north-korea-threatens-us-what-china.html
http://israndjer.blogspot.ca/2015/08/what-kinda-story-is-this-america-used.html
http://israndjer.blogspot.ca/2015/08/112-now-dead-722-injured-in-china-port.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-3rd-day.html
http://israndjer.blogspot.ca/2015/08/china-currency-wars-angers.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-second-day.html
http://israndjer.blogspot.ca/2015/08/china-devalues-its-currency-stocks-fall.html
GREECE NEWS
http://israndjer.blogspot.ca/2015/08/typhoons-fires-koreas-talk-planned.html
http://israndjer.blogspot.ca/2015/08/tsipras-resigns-for-greece-elections.html
http://israndjer.blogspot.ca/2015/08/china-says-it-arrested-15000-people-for.html
http://israndjer.blogspot.ca/2015/08/russia-and-nato-rehearsing-for-war.html
http://israndjer.blogspot.ca/2015/08/at-least-56-dead-720-injured-in-chinese.html
http://israndjer.blogspot.ca/2015/08/greece-lenders-clinch-bailout-deal.html
