Bix Weir, Greg Hunter, VitalBrad and more Wednesday PM 3-4-2020
KTFA:
Kimbu: Has anyone here heard of a UN law set to go into effect april 6th that will require all nations to stop manipulating their nations currency or face high tariffs? I did both a google search and a united nations page search and have so far found nothing because i don't know the law's name.
Found it. It's called the 'currency undervaluation law' set to be enacted april 6th, 2020.
Currency Manipulation and Countervailing Duties
Updated February 13, 2020
https://fas.org/sgp/crs/misc/IN11138.pdf
See page 2: beginning: 3rd paragraph: Treasury maintains a Monitoring List of major trading partners whose currency practices merit close attention, which in January 2020 included China, Japan, Korea, Germany, Italy, Ireland, Singapore, Malaysia, Vietnam, and Switzerland.
See page 2: IMPLEMENTATION: 3rd paragraph: On April 6, 2020 the rule is to go into effect .....
Bix Weir:
Bank Repos Explode Higher and "Silver as Money" Returns!!
RoadToRoota: Mar 4, 2020
Bank Repo Bailouts spike again to $835B....there's panicking behind the scenes at ALL banks!
If this was done on purpose to destroy the banks…brilliant move whoever did it!
ALSO...Silver has a new "use case"...oops...I mean OLD use case as MONEY!!
This Wasn't Supposed To Happen: One Day After Fed Rate Cut, Repos Signal Record Liquidity Shortage
Yesterday morning, when we discussed the sudden spike in liquidity shortage that resulted in both a (record) oversubscribed term repo and the first oversubscribed overnight repo since the start of the repo crisis last September that spawned QE4 and helped its culprit, JPMorgan report record annual revenues, we said that "if going solely by the amount of securities submitted between the term and overnight repo, the overall liquidity shortage today was nearly $180BN, the highest since the start of the repo crisis, and a clear signal to the Fed that it needs to do something to further ease interbank lending conditions."
Less than an hour later the Fed cut rates by 50bps in its first emergency intermeeting action since the financial crisis.
So with its emergency action now in the rearview mirror, did the Fed manage to stem the funding panic that has gripped repo markets following last week's market bloodbath? The answer, if based on the latest overnight repo results, is a resounding no.
Moments ago, the Fed announced that its latest repo operation was once again oversubscribed, with the full $100 million amount of repo accepted.
In other words, for the second day in a row the overnight funding repo operation was oversubscribed (and it is virtually certain that tomorrow's downsized term-repo will be oversubscribed as well).
Peter Schiff – Massive Stock Bubble Finally Found a Pin
Greg Hunter: Mar 3, 2020
Iraq's International Mastercard Bank Card
VitalBrad: Mar 3, 2020
raqi Dinar News for March 3rd, 2020 In spite of all the frustration with seating a government, Iraq has announced its new "Qi Card", and international bank card powered by Mastercard.
Why does Iraq need an international card if their currency isn't even internationally recognized? International recognition coming soon??