With the Thanksgiving and Christmas seasons of 2014 swiftly approaching, this post will appear in rotation from time to time as a reminder; have you examined your private investment portfolios and/or your corporate 401K accounts recently??? Latest reports from several departments within the Fed are revealing the U.S. economy constricted as Spring gave way to Summer here in 2014. Money speaks in a language all its own!!! This bares repeating from time to time, until it sinks in!!! In our modern global economy, we need to recognize all of the global communitys monies are linked; and Im afraid we are all going to feel the most recent Asian pinch directly in our pockets!!! Back on Thursday, 5/22/014 to be exact, as I had initially posted, the Head of the Bank of Japan, Haruhiko Kuroda, told an international press corp., he sees little reason for the yen to strengthen against key currencies, signaling concern that a further rebound could cast a shadow over the Japanese economy and that nations central bank’s fight against deflation. It appears the road for the Japanese economy may be rather rocky over the next six months to a year. While previous BOJ Heads have traditionally avoided openly discussing exchange rates, Mr. Kuroda describes at length why investors shouldn’t expect the yen to rise further even as it flirts with its highest levels in months. Is this sound constructive advice, or is this a ploy to shield away timid-undesirable investors? He specifically describes the U.S. economy as “ recovering very strongly, ” stronger than Japan as a matter of fact, saying that should not result in a higher yen. He points out, “ In this kind of situation, he doesn’t think it’s reasonable to expect the yen to appreciate against the dollar. ” Mr. Kuroda has also stated on the record that when the time came for the Bank of Japan to withdraw its easing measures after having achieved its stated price goals, he doesnt expect the yen to rise. cnbc/id/101687545 Fate would have it, all of this came down simultaneously just as the U.S. Justice Department was pushing BNP Paribas to pay more than $10 billion to resolve a criminal probe into allegations it, financed and shepherded by an elite Judaic-WASP alliance overseeing the transactions in this French entity, evaded U.S. sanctions against Iran and other countries for years, which would represent one of the largest penalties ever imposed on a bank, according to people familiar with the negotiations. A final resolution of the years-long investigation of the French bank is likely weeks away, and its possible the ultimate settlement amount could total far less than $10 billion. BNP and the U.S. authorities also remain locked in negotiations over whether the bank will temporarily lose the ability to transfer money into and out of the U.S. This will no doubt impact funds available for other allocations in the U.S. Simultaneously, just this Summer the Portuguese conglomerate, Espírito Santo International, filed for creditor protection in a Luxembourg court back on Friday, 7/18/14, stating it is unable to meet its debt obligations. The move comes as prosecutors in Portugal disclosed several previous Fridays back, that they are investigating issues related to Espírito Santo International and its entities, as the central bank moved to calm fears about one of the companys partly owned units, lender Banco Espírito Santo, Portugals second-largest lender by assets. telegraph.co.uk/finance/newsbysector/banksandfinance/10977501/Espirito-Santo-International-files-for-creditor-protection.html
Posted on: Thu, 18 Sep 2014 04:23:33 +0000
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