More News, Rumors and Opinions Wednesday Afternoon 2-23-2022
Wednesday thoughts from Holly
Good morning roomies!
When you feel like quitting, think why you started -unknown
We won’t quit because we know why we started. We were born for this moment in time. We have all gathered together for the great awakening. We came to usher it in. We will complete our mission and not quit. We are the strongest of the strongest and have what it takes to see this to the end.
A lot of people thought we would see notifications yesterday. Absolutely not.
There are procedures and protocols that have to happen once this starts. It will take some time before it trickles down to our level.
There is a lot of wonderful things happening behind the scenes. Our blessing is coming but I don’t expect anything for our level till March by the time it gets through all the protocols.
Keep the faith. Stay positive and keep uplifting your vibrations. -Holly
Courtesy of Dinar Guru
Walkingstick and Frank26 We believe that what Mustafa did yesterday, when he yelled at the GOI/parliament, we believe that was part of a deflection of any speculation in either direction - negative or positive. 'It's not happening.' I can prove it's happening. Only pay attention to Mustafa and Kazemi.
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KTFA:
Samson: The Arab Monetary Fund issues a “Practical Guide for Arab Central Banks on Issuing Digital Currency”
23rd February, 2022
Growing interest in digital currencies for retail payments in Arab countries
The importance of reviewing existing legislative texts, where the definition of digital central bank currencies and the identification of legal currency in the texts as a final settlement currency represents the most important legal challenges
Fifty eight percent of Arab central banks responding to the questionnaire consider distributed ledger and blockchain technologies to activate digital central bank currencies, and 88 percent of them are also considering other alternatives through modernizing the payments ecosystem such as instant payments and APIs
Arab countries vary in preparation for assessing opportunities to adopt and activate the digital currency, some of them have established ad hoc committees, and there are those who started studying use cases, and there are central banks that have moved to the stage of experiments
The need to enhance and accelerate end-user access to digital financial services and provide more innovative and competitive solutions to reduce the risks of financial exclusion and improve transaction efficiency
Bi-level design of central bank digital currencies for retail payments enables risk mitigation, if commercial banks are not included in the central bank digital currency system
Activating the digital identity, balancing data privacy and combating illegal financial activities, and placing restrictions on balances and transaction amounts to control the volume of digital currencies in circulation, are the most important proposed policies
Monday, February 21, 2022, the Arab Monetary Fund issued a “practical guide for Arab central banks on issuing digital currencies”, prepared within the framework of the work of the Regional Working Group for Modern Financial Technologies.
The guide can be viewed by clicking on the link LINK
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Samson: A legal expert reviews the benefits of Iraq’s exit from Chapter VII
23rd February, 2022
The legal expert, Haider Al-Sufi, detailed, on Wednesday, the benefits of Iraq’s exit from the seventh item list after it had paid all the financial dues to Kuwait.
Al-Sufi said in an interview with “Mawazine News”, that “with Iraq’s exit from Chapter VII, there will be global economic credit for economic companies, which were afraid of losing before Iraq left this item.”
He explained, “In the past, Iraq had a high credit score before the economic sanctions were imposed on it, but now its credit strength has been restored as one of the first leaders in oil-exporting countries, in addition to its high reserves of hard currency, which gave a guarantee and protection for Iraq’s money, and major companies can build their projects.” and invest in it.”
He continued, “Our economic dealings will change now after countries and insurance companies imposed high insurance fees on their ships and planes that enter Iraqi airspace or waters, but now the insurance tariff will be significantly reduced.”
He pointed out that “the economic boycott of Iraq will disappear after Iraq was suffering from an economic boycott of the countries due to the sanctions imposed on it, and soft loans will be provided with low interest rates for the establishment of important service projects and others.”
And Foreign Minister Fouad Hussein announced, earlier today, Wednesday, that Iraq had exited from Chapter VII procedures. LINK
Warning : China Enters Economic Chaos !!
The Nomad Economist: Premiered 2 hours ago
An important Chinese State-owned enterprise is collapsing; as are multiple Chinese banks.
China’s banking sector is showing signs of strain, with more than 13% of 4,379 lenders now considered “high risk” by the central bank.
Something is starting to severely crack in China's financial system. Only three days after we posted a video about the self-destructive doom loop that is lacerating China's smaller banks, where a second bank run occurred in just two weeks - an unparalleled event for a country where up to earlier this year not a single bank was allowed to fail publicly and has so far this year no less than five banks high profile nationalizations/bailouts/runs .
China is facing the biggest state-firm offshore debt failure in 20 years.
China Braces For D-Day: The unparalleled and Unprecedented Default Of A Massive State-Owned Enterprise. Tewoo , a major Chinese commodity trader, looks poised to become the most high-profile state-owned enterprise (SOE) to default in the US dollar bond market in over two decades.
In a fresh sign that Beijing is more willing to allow failures in the politically sensitive SOE sector, Tewoo Group has offered an unparalleled debt restructuring plan that implies deep losses for investors or a trade for new bonds with considerably lower returns.
Commodity giant Tewoo Group reportedly could become one of China's all-time high profiled state-owned enterprises to default on a U.S. dollar bond. «Tewoo Group is very likely to default on its 300 million US dollar bond due December 16 » Bloomberg said in a report citing unnamed buy-side sources linked to the firm’s offshore debt manager. Dollar bonds? It’s the FEDs problem then. This is HUGE!
Tianjin-based Tewoo Group Co is owned by the local government and operates in a number of industries, particularly as regards of infrastructure, logistics, mining, autos, and ports, as reported by its website. It also has footprints in countries, including the US, Germany, Japan, and Singapore.
The trader ranked 132 in 2018's Fortune Global 500 list, higher than many other conglomerates, including service carrier China Telecommunications Corp and financial titan Citic Group Corp.
It had an annual revenue of US$66.6 billion, profits of about US$122 million, assets worth US$38.3 billion, and more than 17,000 employees as of 2017, according to Fortune's website. Sixty-six billion in revenue but only 122 million in profits ; something is wrong.
The loans are all US dollar loans, so it's America's problem. All companies in China are state owned. They get a 51% stake in everything. People are better off not working for the state and just growing their own food, and staying at home, let the government starve.
Make them come and take 51% of your rice. The firm is neither listed on any stock exchange nor rated by the top three international rating companies. Tewoo Group's financial difficulties came to the fore in April when it sought debt extension from its lenders and sold copper below market rates amid a cash crunch.
That month, Fitch Ratings slashed the company's credit score by six notches in one go to B- to reflect its weak liquidity and higher-than-expected leverage.
Tewoo's likely default suggests that Beijing is finding it increasingly hard to bail out troubled SOEs, let alone private firms, after the worst economic slowdown in three decades.
It also heightens issues over Tianjin, where it's based, following a series of rating downgrades and financing difficulties endured by some of the city's state-run firms.
The metropolis near Beijing also has the topmost ratio of local government financing vehicle bonds to GDP in China. Investors anticipate high debt levels to limit the Tianjin authorities' capacity to lend support to the city's distressed firms, inducing them to reject the latter's debt.