And so 2015 financial woes begin... (22)

A major U.S. currency broker said it suffered “significant losses” that wiped out its equity and a New Zealand foreign-exchange trading house failed as the fallout from the decision by the Swiss National Bank to cease capping the nation’s currency spread across the world.

The Swiss National Bank’s move Thursday to ditch its cap on the Swiss franc’s exchange rate against the euro, a move that unleashed new volatility among bonds and currencies around the world. The abandonment of the cap, which had essentially pinned the currency at 1.20 francs per euro for the past 3½ years, prompted a collapse of as much as 30% in the euro versus the franc—the biggest single-day move in a developed market traders could recall.

Earlier, small New Zealand currency trading house Global Brokers NZ Ltd. said it would close its doors as it could no longer meet regulatory minimum-capitalization requirements of 1 million New Zealand dollars (US$782,500).

Australian currency house OANDA also said it suffered losses amid “vanishing liquidity” in the market. It said it forgave all negative client balances that were caused when traders couldn’t close out positions quickly enough.

The Swiss announcement triggered a wave of volatility, making the Swiss franc the strongest currency in the world, followed by the kiwi and the Australian dollar in third place, National Australia Bank global co-head of FX strategy Nick Parsons said.

Last years decision by OPEC has let loose a cat among the eagles
The Organization of the Petroleum Exporting Countries will stick to its decision to keep oil output unchanged regardless of current oil prices, the United Arab Emirates’ oil minister said Tuesday.

Oil prices CLG5, +0.69% plunged following the minister’s comments, pushing the U.S. oil benchmark below the $45-a-barrel mark, as concerns about an oversupply in global oil markets were reinforced.

he U.A.E. is one of the 10 largest oil and natural gas producers in the world

Bahrain's National Oil and Gas Authority stated that Organization of the Petroleum Exporting Countries (OPEC) and nonmembers of the organization, namely Russia, are engaged in a "cold war" amid decreasing oil prices.

Oil prices have been declining over the last three months, and plummeted to $60 per barrel following OPEC's decision in late November to keep production volumes unchanged.

The decline in oil prices has led to economic difficulties in several OPEC member countries such as Nigeria, Iran and Venezuela. However, the Gulf monarchies' significant currency reserves accumulated during boom years will allow them to resist any shocks in their domestic economies

Brent fell as low as $45.19 a barrel in the hours after the oil minister spoke and briefly traded below Nymex crude for the first time since November.

i'm currently bidding on madbid.com
have sent my lens to Olympus as appears to have dust inside the lens errr

erant 6700 credits on madbid and am currently bidding on Nikon D3200 DSLR camera - Twin Lens Kit comes with a 55 - 300mm lens in addition to its 18 - 55mm lens

last one sold went for $12.71
RRP $1,059.00
currently bidding is up to $107, i have auto bid bidding

for the hell of it merri

next door auction is for a Canon EOS 5D Mark III 22.3MP Digital Camera (Body Only) Last one sold for $401.56
RRP: $4,199.00

no no its not got in that way, dust when changing can get into camera but the back the lens is sealed, most likely where the lens slides in and out, inside the lens is supposed to be sealed chamber and full of gas.
guy i purchased from said they having similar problem with canon so i don't know what has occurred Olympus is looking at it

On Friday, both the dollar and euro gained about 2% against the franc, after ending Thursday down 21% and 23%, respectively.

Banks, brokers and individual investors were left with hundreds of millions of dollars in losses a day after an unexpected surge in the Swiss franc sent shock waves through markets.

FXCM Inc., a major U.S. retail foreign-exchange broker, emerged as the biggest victim so far and had to be rescued by an emergency $300 million lifeline from investment firm Leucadia National Corp.

Shares of FXCM, one of the largest retail currency brokers in the world, were suspended on the New York Stock Exchange on Friday after the company said client losses on Swiss franc trades threatened to put it in violation of regulatory capital rules.

Other firms were hit when the Swiss currency jumped by nearly 30% against the euro and 18% against the dollar in the minutes following the Swiss National Bank ’s decision to stop reining in the value of the franc against the euro.

Citigroup Inc. and Deutsche Bank AG will each lose about $150 million on the franc’s appreciation, said people familiar with the firms. Goldman Sachs Group Inc. said Friday that the franc’s move will be immaterial to its earnings. Losses at Barclays PLC will be in the tens of millions of dollars, people familiar with the bank said.

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While Moscow continues to be hammered by low oil prices and western-led sanctions, it is doubling down on hard-edged political and financial retribution:

Ten months after annexing Crimea and igniting his current standoff with the west, Russian president Vladimir Putin will as early as this week take control of South Ossetia, a breakaway region of Georgia, with which he has a long, sour relationship. He is to sign a little-publicized accord that will hand over foreign policy, border control, and security to Moscow.
Rudd made silly karmas with Ossetia

On Jan. 14, Moscow informed the European Union that within two years, Russia will stop exporting gas to Europe via Ukraine, through which more than 25% of the EU’s gas supplies pass.

Russian analysts say the US in particular is deliberately provoking Moscow with diabolical plots such as the “Reverse Brzezinski,” an alleged Washington strategy to to draw Russia into losing battles.

Putin prepares bitter and hysterical missile surprise to 'American partners'

Russia's new sea-based cruise missiles reduce the military power of the United States on a vast geopolitical region from Warsaw to Kabul and from Rome to Baghdad.

US President Barack Obama, speaking at the 69th session of the UN General Assembly, stated that Russia's actions posed the largest threat to the world. According to Obama, Russia is more dangerous to the world than international terrorism and Islamic fundamentalism.

The United States plans to provide up to $2 billion in loan guarantees to Ukraine this year, the U.S. Treasury said
US plans to deploy armored brigade to Europe
There are going to be US Army forces here in Lithuania, as well as Estonia and Latvia and Poland, for as long as is required to deter Russian aggression and to assure our allies,"

Swedish media reports of a mid-July incident in which an American spy plane invaded Sweden’s airspace as it was evading a Russian fighter jet. The maverick plane was spying on Russia when it was intercepted.