Banks are Broke Netanyahu a Direct Enemy of the U.S. Constitution and the American People

Subject: TOM HENEGHAN BREAKING NEWS: Banks are Broke -- Netanyahu a Direct Enemy of the U.S.Constitution and the American People
To: intelligence_briefings@hushmail.com

TOM HENEGHAN EXPLOSIVE INTELLIGENCE BRIEFINGS

ALL Patriot Americans MUST know, with sources inside American/European intelligence agencies and INTERPOL reporting what is really going on behind the scenes of the corporate-controlled, fascist, extortion-friendly propaganda U.S. media's massive deceptions

http://www.tomheneghanbriefings.com/
https://twitter.com/Tom_Heneghan

Wednesday   April 2, 2014

Banks are Broke

Netanyahu a Direct Enemy of the U.S. Constitution and the American People

by Tom Heneghan, International Intelligence Expert

UNITED States of America   -   Tonight we bring you the latest report from ZeroHedge.com on the insolvent worldwide banks, which beckons financial Armageddon.

At this hour we can report that Russian Federation President Vladimir Putin with the assistance of German Bundesbank President Jens Weidmann has withdrawn all Russian investment funds from the now insolvent German Deutsche Bank.

Weidmann has ordered that the insolvent Deutsche Bank derivatives will be passed on to the counter parties criminal U.S. banking giants JPMorgan Chase and the U.S. Bank of America.

Putin is now backing the Russian ruble with their massive gold reserve as to protect the Russian currency from the criminal algorithms and derivatives that are used on a nightly basis in financial worldwide markets.

$242 Billion: That Is How Much Record "Window Dressing" Banks Got Today Thanks To The Fed

Submitted by Tyler Durden on 03/31/2014

The last time banks scrambled to pad their books into the quarter end, and come begging at the front door of the NY Fed's Liberty 33 office, was on the last day of Q4 and 2013, when nearly $200 billion in Treasurys were handed out by the Fed to over 100 counterparties in what was the largest reverse repo operation conducted by Ben Bernanke, and his brand new Fixed-Rate Reverse Repo operation, in history.
That was the record until today, when just over an hour ago the Fed disclosed that as part of its most recent reverse repo operation, it had handed out to 93 dealer banks and other financial intermediaries, both foreign and domestic, some $242 billion in Treasurys in what is now the biggest reverse repo operation in history, a privilege for which the collateral-starved banks paid the Fed the king's ransom of 0.05% in annual interest, i.e., nothing.
So while hedge funds, speculators and assorted vacuum tubes are rushing all day to bid up all the overvalued stocks they can find in order to make their quarter end P&Ls appear more attractive to LPs even as the early ramp and late selloff is again set to resume tomorrow, the megabanks too were rushing to the "window dressed" safety of Treasurys in order to make their balance sheets appear more attractive to regulators and supervisors, in a world in which high quality collateral is much more valuable than the Fed's fungible reserves, and which helps indicate much higher capitalization ratios than otherwise would be observed at the collateral-starved banks.
But what today's off the charts reverse repo really shows us, aside from the fact that all the reverse repo operation really is, is a way for the Fed to make bank balance sheets appear far better than in reality (for all those still confused), is that the collateral shortage we have been warning about for the past several years, and which is getting only more acute the longer the Fed soaks up all 10 year equivalents from the Treasury market (of which it now holds 35% and rapidly rising), is getting worse for banks.
And in related news, one should consider that tomorrow - with their books well padded for the March 31 daily security "holdings" - the banks will almost certainly unwind over $100 billion if not more of today's reverse repo, an amount that is now equal to nearly two full months of QE. Where that money will go, only the (NY) Fed and a few bank CEOs know.
Then again none of this should come as a surprise - we said precisely this during our last such window dressing observation, to wit:
In short: collateral window dressing on; collateral window dressing off, all with the blessing of the banks' overarching regulator, the Federal Reserve. What is most disturbing is that both the world's largest financial firms, and by implication the Fed, just admitted there is a massive collateral shortage currently if banks are forced to pad their books to the tune of nearly $200 billion in "high quality collateral" just to pass year-end auditor muster.
Today's record quarterly window dressing merely confirmed precisely this.
So while the Fed can provide on both an orderly and on an emergency basis up to the total amount of Treasurys it holds on its entire balance sheet amounting to $2.3 trillion (as of today), what will happen if banks find themselves needing to urgently satisfy $2.4 trillion, or $2.5 trillion, or $5 trillion, or more in Treasury deliverable demands, as collateral chains suddenly collapse on themselves as they did the day after Lehman's bankruptcy and rehypothecated Treasurys, not to mention re-re-re-rehypothecated Treasurys have to be delivered once those infamous "off the books" repo and reverse-repo operations suddenly find they aren't quite netting each other off, as we have also been warning for years.
We hope not to have to find out, at least not for some time, because the outcome would make the Lehman aftermath seem like a walk in the park.

http://www.zerohedge.com/news/2014-03-31/242-billion-how-much-record-window-dressing-banks-got-today-thanks-fed

P.S.  The second shooting incident at the Fort Hood, Texas military base is no coincidence.

Fort Hood is a noted outpost for the training of U.S. Gary Best Inc. assassins tied to the rogue Israeli Mossad and the Bush-Clinton Crime Family Syndicate.

Reference:  A majority of the personnel at Fort Hood, Texas military base are under medication and are trained in Nazi Paperclip NSA mind control operations designed to attack the American People.

P.S.S.  Direct message to neo-Nazi (never elected) right wing Jew Israeli Prime Minister Benjamin Netanyahu.

Stand down NOW, punk!

Netanyahu is currently blackmailing alleged U.S. President Barack Obama in trying to gain the release of HIGH TREASON U.S. traitor convicted spy Jonathan Pollard.

Reference:  Pollard is an American citizen born in the United States is also a tribalistic Jew who sold out his country on the behalf of a foreign state.

Jonathan Pollard not only sold U.S. national security secrets to Israel (with Netanyahu as the bagman) and then sold the same U.S. national security secrets to the then Soviet Union.

What was sold to the Soviet Union were U.S. computer codes on a U.S. nuclear first strike vs the USSR, which now the government of Israel possesses making the United States Military a guinea pig for Israel's own nuclear arsenal.

ANNALS OF ESPIONAGE

THE TRAITOR

The case against Jonathan Pollard.

BY SEYMOUR M. HERSH

www.cryptome.org/jya/traitor.htm

In closing,  another direct message to Nazi Jew Netanyahu:

Pollard is going to be executed for his HIGH TREASON endangering the American People.

Note:  Netanyahu was a 9/11 co-conspirator in Nazi George W. BushFRAUD's 9/11 FALSE FLAG BLACK OP aka BushFRAUD's Reichstag fire (Hitler) and now Netanyahu is directly linked to evidence soon to be released by NSA whistleblower Edward Snowden to the Bay Point Schools-NSA-Israeli AMDOCS overthrow of the year 2000 presidential election.

This coup de etat led to the destruction and shredding of the U.S. Constitution.

Accordingly, final message to Nazi Jew Benjamin Netanyahu:

Quit using your Republican Jewish lobby to threaten U.S. Senator Rand Paul, Republican of Kentucky.

You will stop NOW!

Finally, you will be held accountable for your crimes and treason you committed against the American People and their Constitution.

http://www.tomheneghanbriefings.com/Banks-are-Broke-Netanyahu-a-Direct-Enemy-of-the-US-Constitution-and-the-American-People__04-02-2014.html

Secret Service director called to Capitol Hill to discuss misbehavior of agents

By Ted Barrett, CNN

updated 4:38 AM EDT, Wed April 2, 2014

Washington (CNN) -- Secret Service Director Julia Pierson, called to Capitol Hill to explain misbehavior by her agents, insisted the problems were not reflective of the broader culture at her agency.

"These are isolated incidents of misconduct and we're working every day to correct our behavior," Pierson told reporters Tuesday after leaving a closed meeting with top senators on the Homeland Security and Governmental Affairs Committee.

But there have been numerous incidents of misconduct in recent years.

Julia Pierson was appointed head of the Secret Service about a year ago in the wake of an incident involving drinking and prostitutes ahead of a presidential visit in Colombia.

In the latest, three agents who were part of the President's advance security detail were sent home from the Netherlands after one of them was found passed out in a hotel hallway after a night of drinking. Also, a Secret Service officer in Florida was involved in a traffic accident and alcohol use was suspected.

"We're human and we make mistakes," Pierson said when asked why the agency continues to be plagued by such problems

Chairman Tom Carper of Delaware said just a "handful" of Secret Service members are "shaming and smearing" the agency, which employs thousands of people. He said he discussed with Pierson modifying hiring and firing rules and making other policy changes if they would help her deal with the problem.

"All of us are human, all of us have temptation and some of these jobs, they travel a lot, they're away from home a lot. They have their own foibles," Carper said. "This director is very committed to making sure there's a set of discipline policy standards to follow."

Pierson, a Secret Service veteran, is the first woman to head the agency. She was appointed to the post by President Obama about a year ago in the wake of an incident involving drinking and prostitutes ahead of the President's 2012 visit to Cartagena, Colombia.

"I have made clear to the entire workforce that I will not tolerate unprofessional behavior or misconduct at any level -- both on and off duty," Pierson told the senators, according to prepared remarks released by the Secret Service. "I remain committed to swiftly and vigorously addressing any instances of misconduct that are brought to my attention."

Pierson told the senators she has instituted several changes beyond those including appointing a chief integrity officer, centralizing the discipline process at the agency, and implementing enhanced ethics and integrity training for employees.

Sen. Kelly Ayotte, R-New Hampshire, was one of a handful of senators to go to the hour-long meeting, which was also attended by Pierson's boss, Secretary of Homeland Security Jeh Johnson.

"We've got to get to the bottom of this because it's important to our government to have the Secret Service carry itself with the highest of standards that we expect of them, not only to make sure that ... the President of the United States but all of our leaders are protected," said Ayotte who likened recent incidents to a "fraternity party."

Sen. Tom Coburn of Oklahoma, the top Republican on the committee, told CNN the senators outlined in the meeting suggestions to the agency to deal with problem but he wouldn't say what those suggestions were. He said he has confidence in Pierson to stay on the job and deal with the issues.

"She's obviously embarrassed because it's a reflection on her management but I'm willing to give her the benefit of the doubt right now and see if things don't change," Coburn said.

http://www.cnn.com/2014/04/01/politics/secret-service-director-senators/index.html?hpt=hp_t2

 

April 2, 2014 by 2012thebigpicture

Maylaysian Flight 370 Now in Afghanistan? When Will it End?

Thank you to a reader for this link. Next thing you know, the plane will be located at the North Pole by Santa!  ~ BP

Russia Media: Malaysian Airlines Flight MH370 located in Afghanistan
Tuesday, 01 April 2014 13:46
April 1, 2014 — (TRN) — The Russian media outlet MK.ru is reporting today that Malaysia Airlines flight MH-370 made a hard landing on a rural road southeast of Kandahar, Afghanistan, near the Pakistan Border. According to the report, the passengers and crew are alive.
While the Google translation from the original Russian language is not precise, the MK story says that the Pilots of Flight MH370 did not steal the plane; it was hijacked by unknown persons. This information came from a confidential source inside the Russian security services.
Flight MH370 went missing on March 8 with 227 passengers and 12 crew on board.
The MK story claims that the passengers and crew have been “captured” and that the airplane is on a rural road, southeast of Kandahar, Afghanistan, with a broken wing from a hard landing. The plane is said to be located very near the border of Pakistan. The story even contains a map as follows:
The story goes on to report that all the passengers are alive; that they’ve been divided into seven groups living hand-to-mouth in mud huts nearby.
The story also says that “20 Asian Professionals were captured” and bluntly accuses that the hijacking was done “presumably by the Americans” on “someone’s order.”
Member of the Flight Safety Foundation Sergey Melnichenko, pointed out that on “March 21 Thailand, India and Pakistan said that the aircraft was not tracked by air defenses; not that it did not fly over their countries, just that it was not tracked.
This past Sunday, the head of the Intelligence Committee of the U.S. Senate Diane Feinstein, responding to a question from CNN on the probability of a terrorist component in the case of the missing plane, said “At the moment nothing has been found”.
The story goes on to point out that there are two areas in Afghanistan controlled by the Taliban, with two air corridors where MH370 could fly after disappearing from radar. Rather than admit this, Malaysian authorities are merely relying on the Afghan and Pakistan governments saying military radar never tracked the plane.
The story goes on to say that trust may be misplaced since the border area between Pakistan and Afghanistan is semi-abandoned.
Source
http://2012thebigpicture.wordpress.com/

Highlights from KTFA Monday Night CC 3-31-14 Emailed to Recaps

Highlights from KTFA Monday Night CC 3-31-14 Emailed to Recaps

04/02/2014

Highlights from KTFA Monday night CC 3-31-14:

Frank cautions all to beware of scams..Do not give your dinars to anyone and do not give out any personal information either..scammers can look professional and legitimate.

April is a month of study and interest.  UN Operational rates are released in April.

April begins the 2nd quarter, and on the lunar calendar, a new moon cycle begins in April.. In the middle east the new moon cycle is the best time to start new contracts, new agreements. 

April is an auspicious time and historically many important events have happened in April.

Frank says there will be a new UST currency, and Jack Lew and Christine LaGarde talked about it in Mexico…Will the USD lose Value?...yes, through inflation.

Watch for the rate change on the CBI , Frank feels that is where it will show first…
.....
Memphis says Iraq is having  major issues with the currency they have in circulation, torn, worn out, ect…forcing many to use foreign currency because if the condition of the IQD, yet, the CBI will not replace the damaged currency and the crises is worse then its ever been…

In Memphis opinion this is a sure sign that the CBI is about to do something with their currency….Delta Agrees and says we are very close to seeing something happen.

In Delta’s opinion the budget is totally finished but we wont see it until the rate changes on the IQD.

The CBI does not need to wait on the budget…they are independant of each other and the CBI can release the new rate at any time..

In Delta’s opinion the very latest they could wait to release new rate is May, but if it goes all the way to May, it could be disaterous as the CBI would have to inject more currency into the economy, and the CBI has worked very hard to get the large bills off the streets.

Delta read a translated report on Iraq from the IMF. This report confirms that the IMF is happy with Iraq and the rate spread and the IMF is supporting Iraq and encouraging them to go ahead with their monetary  reform policy!  This report is in the news and announcements  section of the CBI.

Delta said to remember that they will never announce “hey, we are raising the rate of the IQD!”, and remember the MR (monetary reform) is mainly for the citizens of Iraq.

There was an Article IV meeting in Jordan in March and Deltas opinion is the IMF gave the green light to go ahead with the MR…The question is will they release it before or after the elections??

In Deltas opinion it could happen any day, any time of day…just it cannot go past the end of May.

There is tremendous pressure for the CBI to release the new rate, and the citizens of Iraq are also under tremendous pressure…Again Deltas opinion is we are in a 60 day window, but we could see the new rate at any time!!

Delta stated that this is a 100% fact directly from the CBI, that the new rate will be released BEFORE JUNE 2014.. Not in June or after June , but BEFORE.

Nova agrees with Delta and says its remarkable that in the report Delta read that the CBI says the IMF gave them permission to go ahead with their monetary reform…..This is huge news.

Delta’s sources are all saying that all they are waiting for is to see the new rate released by the CBI..That all. And while no one knows the date….all are agreeing its very close.

Franks opinion is that 10 currencies will be RVing with the IQD…that’s where he and Eagle1 have different opinions as Eagle1 thinks all currencies will revalue whereas Frank thinks only 10.

Delta says to watch the CBI as we will probably see 2-3 announcements come out and then the new rate.  Also do not pay attention to all the recycled news articles…just watch the CBI because the pressure is enormous for them to release the new rate.

The call ended with “Amazing Grace”

http://www.dinarrecaps.com/1/post/2014/04/highlights-from-ktfa-monday-night-cc-3-31-14-emailed-to-recaps.html

Kazakhstan’s prime minister, whole cabinet resign

Kazakhstan’s prime minister, whole cabinet resign

 Financial Reset, Paradigm Shift, World News  No Responses »

Apr 022014

 

Kazakhstan’s Prime Minister Serik Akhmetov and his entire government resigned Wednesday, the authorities in the Central Asian country said.

Akhmetov told a cabinet meeting that his resignation had been granted by President Nursultan Nazarbayev, the government of the oil-exporting country said.

No reason was given for Akhmetov’s abrupt dismissal, but President Nazarbayev has broad powers to change prime ministers at his choosing.

His press-service said on Twitter that the Kazakh leader has already proposed that former premier Karim Masimov takes up the role again.

“According to the Constitution, the dismissal of the prime minister is followed by the resignation of the entire government,” the government press service said in a statement on its website.

Akhmetov, 55, worked in the metal industry before becoming deputy mayor of Astana, the capital of Kazakhstan.

He served in various government posts and was appointed to the premiership in September 2012, succeeding Masimov, who served five years before him.

April/02/2014

go to link

http://dinartruthmatrix.net/

Did Michigan just trigger ‘constitutional convention’? Bid gains steam

Did Michigan just trigger ‘constitutional convention’? Bid gains steam

 Financial Reset, Nesara, Paradigm Shift, World News  No Responses »

Apr 022014

 

convention’? Bid gains steam

By Barnini Chakraborty

Published April 02, 2014

FoxNews.com

Facebook363 Twitter147 Gplus10

National Archives

WASHINGTON –  Momentum is building behind what would be an unprecedented effort to amend the U.S. Constitution, through a little-known provision that gives states rather than Congress the power to initiate changes.
At issue is what’s known as a “constitutional convention,” a scenario tucked into Article V of the U.S. Constitution. At its core, Article V provides two ways for amendments to be proposed. The first – which has been used for all 27 amendment to date – requires two-thirds of both the House and Senate to approve a resolution, before sending it to the states for ratification. The Founding Fathers, though, devised an alternative way which says if two-thirds of state legislatures demand a meeting, Congress “shall call a convention for proposing amendments.”
go to link
http://www.foxnews.com/politics/2014/04/02/rare-option-forcing-congress-to-meet-change-constitution-gains-momentum/#

Wobble Death Doom!!!! Chile EQ – USGS Just Went On A Total Media Blackout Tonight – Earth’s Orbit May Have Just Been Destabilized

Wobble Death Doom!!!! Chile EQ – USGS Just Went On A Total Media Blackout Tonight – Earth’s Orbit May Have Just Been Destabilized

 Earth Changes, Prophecy  No Responses »

Apr 012014

 

I have a friend so to speak in the USGS who just came to my house an hour ago to personally tell me what they think just happened. He said even though the quake was only measured as an 8.2 it had a lot of energy that just through the axis off by a sizable amount. Enough he said, that they speculate it has destabilized the Earth’s orbit and a wobble in it’s spin will get bigger and bigger. Effects are unknown as this has never happened. He had to come personally because he didn’t want to use the net or phone contact me. He said they just got a gag order for national security. He looked really worried and smoked 3 cigarettes in a row while his hands were shaking telling me. Doesn’t sound good folks.                                This is from a forum  that this is posted at.

http://dinartruthmatrix.net/

FACT CHECK #114

Posted on April 1, 2014 by whitehatauxiliaries • 110 Comments

Greetings! 
From OWoN we have the following update – from the top.
Please read it carefully and rest assured that we are doing our very best to make sure you are kept updated on all relevant matters. 
We have a request. Please try not to submit questions to us via e-mail. It would be easier to address all questions via the blog. If you need to e-mail us, then you may certainly do so.
Also, we do not maintain email update lists, so if you write to us requesting to be added to such, we cannot do so. 
Thank you all for your tremendous support. The White Hats and their associates and staff do read your comments and are very appreciative of your recognition of their work. 
Please await further updates as they are available.  
WHA 
=================================================
To All,
As of yet, there have been NO Settlements done and these Guru Broker sites winding up the public to peddle their 300% marked up notes are disgusting. Poor and Needy people are being scammed and conned. It’s disgusting conduct praying on their needs. Wrong, wrong, wrong! How can we help change lives when a needy soul with their last $500 Bucks is only getting true value of $150 of Notes back and ruthlessly skimmed by these racketeers? The loss to them is enormous when converting now.
Check the Real Rates when buying. Many of these sites are Scammers.
These parties will not be given any access to the process or news early.
ONLY the PPs will be done first so you have time.
We will probably only come out at c10 EST so as to cover Mid States and then 07-00 is not too bad to West Coasters. OMG we hear. No we won’t delay it more or the Europeans will take the lot. West Coasters you move it or lose it. But we will pre advise when.
This week will only be at best the majors being pre advised or later. That will not be for Public trades. Ignore the Guru garbage.
The US Patriots and ourselves are trying to help all of you in safe steps.
You have time! When the time is right you WILL be helped. Trust the integrity of the back up you are getting. It ALL flows via this main group.

https://whitehatauxiliaries.wordpress.com/

The Road to Sustainable Global Growth—the
Policy Agenda

By Christine Lagarde
Managing Director, International Monetary Fund
School of Advanced International Studies
Washington, DC, April 2, 2014

Webcast of the Speech

As Prepared for Delivery
Good morning. I would like to thank Provost Lieberman for his warm introduction. I am also appreciative of Dean Vali Nasr’s kind invitation to join you today. And I want to salute my friend and former IMF colleague, John Lipsky, who will be moderating today’s session.
I am delighted to be at SAIS, one of the world’s top learning institutions, with a faculty and student body renowned not only for their intellectual ability but also for their international commitment—which includes campuses on three continents. I understand that the school’s theme for this year is “Emerging Markets.” This seems most appropriate, since emerging market economies now account for the bulk of global growth.
Next week, Finance Ministers and Central Bank Governors of our 188 member countries— emerging markets, advanced economies and low-income countries—will gather in Washington for our Spring Meetings. Today, with this global audience at SAIS, let me give you a preview of our global policy agenda.
Strengthening International Cooperation is a Priority
I want to begin with what will be a priority issue. At a time when the world is still recovering from the Great Recession—and at a time when geopolitical tensions are rising—how can we strengthen the international cooperation that is key to addressing these challenges?
Certainly the global economy has stabilized since the onset of the financial crisis, but the recovery is too weak for comfort. Moreover, unless countries come together to take the right kind of policy measures, we could be facing years of slow and sub-par growth—well below the solid, sustainable growth that is needed to create enough jobs and improve living standards into the future.
This is not inevitable. As Aristotle wisely said: “We become just by performing just actions, temperate by performing temperate actions, and brave by performing brave actions.”
Now is the time for brave action.
The major G20 countries, at their meeting in Australia in February, recognized that the right policy actions by countries—and the right cooperation across countries—could raise world GDP by over 2 percent over the next 5 years.
This would place the global economy on a substantially different and better trajectory from today.
At that same meeting in Sydney, the IMF was asked to monitor country-specific plans and tasked with assessing possible “spillover” effects—how one country’s policy actions might affect others. With our global membership, technical expertise, and cross-country experience, the IMF is well placed to help.
We have been doing that for 70 years: after the Second World War, during the Asian and Latin American financial crises, and during the Great Recession. A more recent example is the assistance that we are proposing for Ukraine—and where IMF support will galvanize support from others.
It is international cooperation in action. It is the IMF in action.
Our role is generally well recognized. Consequently, almost our entire membership has approved a set of governance reforms aimed at strengthening our resources and better representing the changing dynamics amongst our shareholders.
The exception to this support, unfortunately, is the United States—our leading shareholder and a founding member. Just last week, legislation that would have brought these reforms into effect did not make it through the Congress. This is disappointing, but it is not the end of the story. We shall carry on.
The U.S. Administration has reiterated its commitment to see the reforms approved as soon as possible. The rest of our membership remains committed. And I am personally committed—because these reforms are good for the IMF, good for the U.S. economy, and good for the world.
So, international cooperation will be high on the agenda next week. What else?
Three broad topics:
(i) The state of the global economy: how is the growth engine running?
(ii) Short-term obstacles on the road ahead: how can they be navigated?
(iii) The medium-term horizon: how do we shift gears and get the global economy up to cruising speed—meaning stronger, more sustainable growth?
Let me discuss each of these.
1. State of the Global Economy
First, a quick check of the global economy. We will be releasing our new forecasts next week, so I will just touch on broad trends.
The global economy is turning the corner of the Great Recession, although overall growth remains too slow and weak. In 2013, global growth was about 3 percent; we project modest improvements in 2014 and 2015, although still remaining below past trends.
Economic activity in the advanced economies is improving, albeit at varying speeds. This is good news, because for the past 5 years the emerging market and developing economies have been shouldering the burden of recovery—accounting for 75 percent of the increase in global growth since 2009. The recovery is finally becoming a bit more balanced, in an overall economic landscape that has changed significantly.
In the advanced economies, growth is strongest in the United States, supported by robust private demand and an easing of the short-term fiscal brake. Even so, it will be critical to continue to carefully manage the gradual withdrawal of monetary support by the Fed, and to put in place a durable medium-term fiscal plan.
In the Euro Area, a modest recovery is taking hold—stronger in the core but weaker in the South. Encouraging steps have been taken recently to establish a banking union—which the IMF has been urging for some time. Implementing a common fiscal backstop remains key, as is the upcoming asset quality review of banks.
In Japan, the world's third largest economy, activity is seeing a boost from the monetary "arrow" of Abenomics. For growth to be sustained, the remaining two policy "arrows"—structural reforms and a concrete medium-term fiscal plan—also need to be comprehensively fired.
Activity in emerging market economies, which has been slowing, picked up slightly in the latter part of 2013—driven by stronger demand from advanced economies. Although tighter external financial conditions will be a drag on domestic demand, emerging Asia in particular will continue to be a bright spot, posting the world's highest growth rate of more than 6½ percent this year. China also will continue to be a key driver, albeit at a slower, more sustainable pace.
Many low-income countries too have been a bright spot. After Asia, Sub-Saharan Africa has been the most dynamic region in the world during the crisis, growing at around 5 percent per year on average. This should continue, although in several countries rapid debt accumulation and erosion of fiscal space will need to be watched.
Turning to the Arab Countries in Transition, their prospects are held back by the difficult socio-political context. Those countries striving to advance much-needed reforms deserve firm support from the international community.
So this is a snapshot of the global economy. I would summarize it this way:
A modest and fragile recovery is underway—and needs to change gears toward more rapid and sustainable growth.
2. Removing Obstacles to Short-run Growth
This takes us to my next topic: what short-term obstacles are emerging on the road to get there? I see three.
The first obstacle is in the advanced economies. There is the emerging risk of what I call "low-flation," particularly in the Euro Area. A potentially prolonged period of low inflation can suppress demand and output—and suppress growth and jobs. More monetary easing, including through unconventional measures, is needed in the Euro Area to raise the prospects of achieving the ECB's price stability objective. The Bank of Japan also should persist with its quantitative easing policy.
The second obstacle is in the emerging market economies. Corporate leverage has been rising, and there is a risk of heightened market volatility associated with the tapering of quantitative easing in the U.S. This is combined with a generally less benign external financial climate. What we saw from the recent bouts of market volatility is that countries with weaker fundamentals—larger domestic and external imbalances—are likely to be more affected. By the same token, strong policy responses by those economies are likely to be the best safeguard against turbulence.
Navigating the choppy waters of financial normalization will require a collaborative approach among all countries. That means building a shared understanding of the risks and the policy responses. It means cooperation among central banks and financial regulators to contain adverse policy “spillovers” and subsequent feedback to source countries—“spillbacks.” It also means, and as I have emphasized repeatedly, continued, clear communication among all central banks.
The third obstacle is the rise of geopolitical tensions, which could cloud the global economic outlook. The situation in Ukraine is one which, if not well managed, could have broader spillover implications. There are also other cases of geopolitical tension. Resolving them requires not only good policies, but good politics. Both are essential to enable the global economy to move into a higher gear.
3. Reaching Cruising Speed for Medium-term Growth
This brings me to my third and final topic—how do we reach cruising speed over the medium-term? How do we achieve higher quality, more sustainable growth that is more broadly shared?
We know that the costs of continued sluggish growth are high: modest income gains and meager reductions in unemployment and inequality. Indeed, the risk is that without sufficient policy ambition, the world could fall into a medium-term low growth trap. How can we avoid this?
We first need to fix problems that have been with us for some time during the crisis:

• Unemployment—far too many people are still out of work, especially young people;
• High levels of debt—meeting the challenge of fiscal consolidation while safeguarding growth; and
• Financial uncertainty—completing the reforms necessary to place the global financial system on a sounder footing.

While some progress has been made on each of these, none has yet been overcome.
The economic, fiscal, and monetary policies that I have already mentioned are a big part of the solution. But with space for supportive policies narrowing in many countries, the role of structural reforms as a policy lever will increase.
What does that mean in practical terms? It means more and better-targeted investment, more labor market reforms, and more product market and services reforms.
First, public investment has taken a hit over the years in many countries; higher, well-prioritized investment would increase potential output and jobs. In Brazil, India, South Africa, and across the ASEAN countries, more public and private investment is essential to close infrastructure gaps. Investment to upgrade existing infrastructure networks is also needed in a number of the advanced economies—for instance, in Germany and the U.S.
Second, inclusive labor market reforms can go a long way in boosting potential growth. In countries with aging populations, increasing participation of underrepresented groups can help to keep them dynamic. In Korea, for example, measures to increase the participation of women and older workers should appreciably boost potential growth and more than offset the impact of aging. Recent IMF research has pointed out that, in many countries, increasing women’s participation in the workforce can be a powerful impetus to growth.
In countries with high levels of youth unemployment or informality, labor market reforms can be critical in avoiding a lost generation. In Mexico, for example, it is estimated that reforms to reduce hiring barriers in the formal sector could create nearly 400,000 new jobs annually.
Third, reforms to product markets and services can help break down vested interests, boost competition, and unleash huge growth and employment potential. This is the case not only in advanced economies such as Japan or Germany, but also in emerging market economies such as China.
Why? Because the innovation and productivity that underpin the services sector are the drivers of a modern economy. Think technology, communications, or finance. These, in turn, depend on effective, accountable and rules-based institutions.
That is why capacity building efforts are so important. That is also why capacity building is the largest service that the IMF provides today—in almost 90 percent of our 188 member countries, as diverse as Greece, Georgia and Guinea.
In Myanmar, for example, which I visited late last year, we are making a major effort to strengthen key areas of macroeconomic management as the country strives for reform. And through the IMF, the international community is coming together to help the country open up to the world.
All of which brings us back to where I began—on the role of the IMF and the importance of cooperation.
Conclusion
On that note, let me conclude.
In many ways, the world is at a critical juncture: emerging from the greatest financial crisis in almost a hundred years. Recovery is taking hold but is too slow and it faces several obstacles along the road. Bold policy steps can overcome these obstacles and take the global economy to the next level of more rapid and sustainable growth.
I have outlined a number of those steps today and they will be discussed further by our global membership next week. It is already clear that one policy step, above all, is key: a strengthening of international cooperation, a renewed commitment to multilateralism.
In our interconnected 21^st century, no country can go it alone. National prosperity and global prosperity are linked; they depend, more than ever before, on our working together. The IMF is indispensable for this global cooperation.
Victor Hugo said: “Perseverance is the secret of all triumphs.”
The global economy is turning the corner—we need to persevere and push on together to complete the journey.
Thank you.

http://www.imf.org/external/np/speeches/2014/040214.htm

Wednesday Afternoon Tidbits

Wednesday Afternoon Tidbits

04/02/2014

TNT:

Maninc56:     5/3 banks story…..Got a friend in to this RV after months and months of trying. He dove in and also got his daughter into the RV wave. The daughter was at a bar last night and was hanging with girls in her circle.

One of them a 5/3 teller was going on about the good news she received in an email from her boss. "Prepare for extra hours this month and possibly being resigned to different locations for a few weeks due to currency revaluation" my friends daughter perked up (being a Dong holder) and probed the conversation a little more.

The Teller said " I didn't even know our currency needed to RV '' she was just happy to be able to get more hours for a few weeks. We are trying to get copy of the email. OVER TIME THIS MONTH

BMac:  I listened and watched CL's speech today. She did mention several times about a meeting next week with IMF AND World Bank leaders, mentiong the 186 countries also. just FYI...
....

Embuste: Link to: Christine LaGarde IMF - Today - Fast forward to 15 min. mark - http://www.imf.org/external/mmedia/index.aspx#

Earjocky: I know lots of Iraqis and they are disgusted with their political leaders, it is hard to imagine this political season passing without some good RV news for their incumbents

*************************

I4U:

jack1977] Budget Delay Continues    http://www.iraq-businessnews.com/2014/04/02/budget-delay-continues/

[jack1977] Why Two Exchange Rates?    http://www.iraq-businessnews.com/

 [jack1977] Central Bank decides SEC "11" tons of gold bullion for "T. .. Central Bank of Iraq, on Wednesday, for a contract with a global     http://www.almadapress.com/ar/Archive/5/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/1

 [MsMagnolia] Anybody besides me hopeful for this week? Things are moving in Reno plus other locations, so we havee to be close to next, right?

[jack1977] MsMagnolia I pray we are

 [dinardiamonds] MsMagnolia is it really really happening in reno

 [MsMagnolia] I'm not there in person, but have been told so

*********************************

Stage3Alpha:

WHERE ARE WE TODAY..................

Posted by EXOGEN on April 2, 2014 at 1:36pm

THE SONG “THE FINAL COUNTDOWN” IS NOW PLAYING IN YOUR HEAD!

**************

THE T.R.N. TRAIN HAS OFFICIALLY LEFT THE STATION!!!

Posted by EXOGEN on April 2, 2014 at 4:51pm

**************

Top 5 Emerging economies you dont hear about!

Posted by Sqwatchy on April 2, 2014 at 3:14pm

http://www.changesxchange.com/t21519-top-five-emerging-economies-of-the-world-iraq-in-discussions

*************

IMF VIDEO APRIL 2 , 2014

Posted by Sqwatchy on April 2, 2014 at 4:09pm

WOW!!!! CHRISTINE LAGARDE JUST ABOUT BODY SLAMS THE UNITED STATES ON THE CODE OF REFORMS!!! MUST WATCH VIDEO!

http://www.imf.org/external/mmedia/view.aspx?vid=3422777399001

http://www.dinarrecaps.com/1/post/2014/04/wednesday-afternoon-tidbits.html