Post whatever is on your mind!!

[99chromegt]

I had my car in pieces for the third time at that point last year. The BBQ was a great pick me up. Once I find out when all the other main stream events are, July 18 will be confirmed. Right now that date looks like it slides into the schedule perfectly. No big races or shows so far that Saturday. And no long weekend lol. I hope we can get an even larger turn out this year.

[Cancermasher]

That would work out perfect! Your place saturday, Tim and Brenda's show Sunday and its on my way home!

[92redragtop]

Damn this thing went sideways quickly (shadow banking will get a little spotlight with this)....

(Globe and Mail)
The financial carnage continues to spread from the Swiss National Bank’s decision to abandon its currency peg with the euro. Two foreign exchange trading platforms have already declared insolvency, Global Brokers NZ Ltd. in New Zealand and Alpira UK Limited in London. There are also morbid rumours surrounding Swiss-based Dukascopy Bank SA on Twitter. In the U.S., FXCM Inc. appears to be in its death throes, trading 75 per cent lower in pre-market trading.

The forex traders do not, however, represent a systemic risk to the financial system. The damage to global macroeconomic-focused hedge funds is a bigger issue for investors. Business Insider attempted to survey the damage,

“Large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets…Data from the Commodity Futures Trading Commission released on Friday showed net short positions of 24,171 contracts on the Swiss franc, the largest since June 2013. Adding in 662 short option contracts gives a combined position of 24,833 contracts or $3.5-billion at the current rate of around 0.90 franc to the dollar.”

“Hedge Funds Got Whacked By The Swiss Franc Rally” – Business insider

“SNB Bombshell: The Aftermath – Thoughts From 15 Major Banks” – Forex Live

“SNB fall out news repository” – Forex Live

“European Markets Still Jumpy After Swiss National Bank Scraps Currency Cap” – Wall Street Journal

[Laffs]

Funding application I'm working on with another org wants 3 years of audited financial statement. I send the person compiling the application them our audited '11, '12, '13 statements. Get a phone call from someone there saying "oh you sent '11, '12, and '13, wheres '14 because we are now in '15". Spent the better part of 20 minutes trying to explain to them that I wont have audited '14 statements until March which is when our auditors come in, to which they still don't understand but said ok and hung up. Now I just got CC'd in an email to my boss asking when I will be providing '14 audited Financials and can it be by next Friday.

SERENITY NOW, SERENITY NOW, SERENITY NOW.

[92redragtop]

Funding application I'm working on with another org wants 3 years of audited financial statement. I send the person compiling the application them our audited '11, '12, '13 statements. Get a phone call from someone there saying "oh you sent '11, '12, and '13, wheres '14 because we are now in '15". Spent the better part of 20 minutes trying to explain to them that I wont have audited '14 statements until March which is when our auditors come in, to which they still don't understand but said ok and hung up. Now I just got CC'd in an email to my boss asking when I will be providing '14 audited Financials and can it be by next Friday.

SERENITY NOW, SERENITY NOW, SERENITY NOW.

LOL! Sounds like that person should not even be reviewing financial statements.

[Laffs]

LOL! Sounds like that person should not even be reviewing financial statements.

Nope. I can hear my VP explaining same the thing that I just explained to them on the phone, mildly amusing but fairly confident I'm going to get a knock at my door and "can you take over the application process?"

[Slope]

Damn this thing went sideways quickly (shadow banking will get a little spotlight with this)....

(Globe and Mail)
The financial carnage continues to spread from the Swiss National Bank’s decision to abandon its currency peg with the euro. Two foreign exchange trading platforms have already declared insolvency, Global Brokers NZ Ltd. in New Zealand and Alpira UK Limited in London. There are also morbid rumours surrounding Swiss-based Dukascopy Bank SA on Twitter. In the U.S., FXCM Inc. appears to be in its death throes, trading 75 per cent lower in pre-market trading.

The forex traders do not, however, represent a systemic risk to the financial system. The damage to global macroeconomic-focused hedge funds is a bigger issue for investors. Business Insider attempted to survey the damage,

“Large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets…Data from the Commodity Futures Trading Commission released on Friday showed net short positions of 24,171 contracts on the Swiss franc, the largest since June 2013. Adding in 662 short option contracts gives a combined position of 24,833 contracts or $3.5-billion at the current rate of around 0.90 franc to the dollar.”

“Hedge Funds Got Whacked By The Swiss Franc Rally” – Business insider

“SNB Bombshell: The Aftermath – Thoughts From 15 Major Banks” – Forex Live

“SNB fall out news repository” – Forex Live

“European Markets Still Jumpy After Swiss National Bank Scraps Currency Cap” – Wall Street Journal

Richard,

Can you dumb this down for me?

[99chromegt]

Richard,

Can you dumb this down for me?

Keep your money in your mattress for awhile longer

[Slope]

Keep your money in your mattress for awhile longer

Thanks Bro.

[NickD]

Leaving in 20 min to drive to detroit and go to the auto show tomorrow, I hope its not crazy busy