More News, Rumors and Opinions Sunday PM 6-13-2021
KTFA:
Samson: A deputy calls for the interrogation of the governor of the bank and his dismissal after the “crime” of currency exchange
15:28 - 13/06/2021
On Sunday, the representative of the Al-Fateh Alliance, Wafa Al-Shammari, stressed the need to interrogate the governor of the Central Bank, hold him accountable and dismiss him in the event that his failure is proven, considering that raising the exchange is a “crime” against the Iraqis.
Al-Shammari said in a statement to the "Information" agency that "the continuation of the Central Bank's policy regarding the unstudied currency exchange will make the Iraqi street inflamed."
She added, "The persistence of raising the dollar exchange rate is a crime against our people, especially those with limited income," noting that "the rise in the dollar exchange rate will raise the prices of goods in the local market in a very large way."
She pointed out that "Finance Minister Ali Allawi and Central Bank Governor Mustafa Ghaleb burdened the citizen with additional financial burdens." LINK
Courtesy of Dinar Guru https://www.dinarguru.com/
Frank26 Everyone knows. Everyone is talking about the exchange rate. Not just the citizens of Iraq but in many countries...the talk is all over the place about the exchange rate needing to go up in value...from the CBI to Iraq to the World Bank and many others are pointing the finger at the CBI and telling them, 'Raise the value of your currency.' The only one pointing their finger at the CBI and Kazemi and telling them to decrease the value of their currency is Iran and the Parliament of Iraq but they are a minority...they are but a drop of water inside of an ocean. The talk is opposite all over the Middle East. They are implementing a new 'mechanism' which is a new exchange rate...
Jeff Article: "Parliament: The exchange rate of the dollar against the dinar will be fixed for at least a year". Article: "Al-Kazemi's advisor reveals the details of the first economic reform program in Iraq and its launch date". Quote: "Starting in the years 2022-32 it'll be the first development decade for Iraq..." They're going to launch the white paper reforms in 2022...Based on general daily news they're probably planning to change the rate next year when they implement the 'White Paper' reforms. But...let's look at the sources of these articles... [post 1 of 2....stay tuned]
Jeff The first one is the parliamentary finance committee [the second a GOI advisor]. That's NOT the CBI! ...they made a key statement here. Quote: "Cougar said, "changing the exchange rate is the responsibility of the Central Bank." No body else. The CBI... only the CBI has anything to do with the value of Iraq's currency/changing the rate...This general daily news suggests to you Iraq might change the rate next year when they implement the economic White Paper reforms...none of this news is from the CBI. With that said none of this news holds any credibility. [post 2 of 2]
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The Atlantis Report:
Housing Market Euphoria will End Badly As The US Housing Enters In A Massive Bubble In 2021
Premiered 3 hours ago
The real world has been trying to tell us real estate is not a permanent store of wealth. The fictitious financial wealth in real estate disappears. Housing isn’t going up, the dollar is going down. And they are not going back, because the dollar isn’t.
In the 1970s you could buy a brand new waterfront beach house in Florida for $40k then. And by 1978 if was $100k and no one could believe it. And now it’s $2m and no one can believe it. And in 5 years they will be $3m. And in 10 years, $5m.
But the surge in home prices have not benefitted the homeowner at all. Those buying today are lifelong bank slaves which is exactly what the banks want.
County assessors are pulling in record revenue. Realtors enjoy the nice commissions. But the homeowner does not benefit. There are more realtors in America than homes for sale. Let that sink in for a moment.
Every waitress, hot chick with no education and 80 IQ moron is now a realtor. All thinking they can make their commission quickly and be rich.
Money pouring down from Asians( Indians, Chinese and other migrants), people migrating from California, New York to suburban metros - DFW, Virginia, Atlanta, North Carolina, Massachusetts, washington and every where else where homes used to be affordable.
Builders are freaking not even able to build homes as fast as these crazy rich are putting in deposits. What used to be an awesome home for $600K is now selling for 1 million in a span of 3 years. These folks have made millions in the stock market, saved millions through last few years, and they are diversifying by investing in real estate and it has just now begun.
Stimmy checks, soaring construction costs, and Biden's proposed $15K to new home buyers will make prices soar. Eventually the bubble will pop .
State and local budgets are completely busted. Housing is an indirect way to prop up revenues through property taxes. Thing is that it is a cost of living tax on everyone just to pay pensions. It would be one thing if that money was fixing roads, updating sewers, etc., but all of the money goes to pay people not to work.
This is why we have crumbling infrastructure due to misallocation and mismanagement of tax revenue. This bubble is popping any time soon.
2021 may be the most violent real estate market in a lifetime: starting with mass exodus out of the dying cities and states, then punctuated halfway through by the eviction moratorium ending on June 30.
Supposedly 20 million households could face eviction; as eviction moratorium extended to June 30, covering 20 million US households.
For the full transcript go to https://financearmageddon.blogspot.com