News, Rumors and Opinions Friday 1-8-2021
KTFA
New financial statement on the adjustment of the dollar exchange rate LINK
DeepWoodz: Imo....GOOD ONE HERE!!! Ok....the first part talking in circles....
The Ministry of Finance issued, on Friday, a new statement regarding the measures supporting the increase in the positive effects of adjusting the exchange rate of the dollar against the Iraqi dinar.
....the joining of several groups to get this right...
“next week with a proposed expanded meeting with the main economic actors from the public and private sector, where the Ministry of Finance will develop its policy program.”
“she led extensive discussions in the past weeks after the budget was approved by the Council of Ministers regarding the follow-up to adjusting the exchange rate with many parties inside and outside the government.”
and....
“She hopes that these procedures will coincide with discussions within the House of Representatives on tthe budget,”
NOW FOR THE RATE....
”The Ministry of Finance promised on Friday to make an amendment to the exchange rate of the foreign currency against the Iraqi dinar,”
And with the new rate....
”the Ministry of Finance will develop a detailed policy program designed to increase the benefits from adjusting the exchange rate.
Finally the best part and should leave no doubt....
”the main policy measures to protect the poor and vulnerable have been included in the budget and discussed in the minister's statement regarding the budget."
Question is, are they going to do what we have been awaiting? Is it possible that they are Finally....after 18 years, going to claim their Sovereignty and Prestige as an Iraqi nation?
I’d say that if they were just going to devalue once more, then there would be no talk of taxes. There would be no talk of helping the poor and vulnerable. There would be no talk of salary reductions. There would be no need for all the planning. There would be no need to include parties from inside and outside of the government.
ALL CONFUSION STOPS HERE. IMO
DeepWoodz: Imo....Whats more PROMISING for a great rate?!?! Great prosperity for Iraq!!! This is getting SO GOOD!
Samson: Oil prices are near an 11-month high
8th January, 2021
Oil prices held close to their highest level in 11 months, today, Friday, and is on the path of achieving strong weekly gains, as Saudi Arabia's pledge to reduce production continued to support sentiment in the oil market.
Brent crude rose 13 cents, or 0.2 percent, to $ 54.51 a barrel by 05:31 GMT. The global benchmark touched $ 54.90 on Thursday, the highest since February. And US West Texas Intermediate crude gained 14 cents, or 0.3%, to $ 50.97. Crude closed up 0.4% on Thursday, after it also reached its highest level since February, at $ 51.28 a barrel.
The two benchmarks are on track for gains of about 5% this week. "Saudi Arabia's decision to undertake voluntary cuts to its production continues to support the market," said Hiroyuki Kikukawa, general manager of research at Nissan Securities.
He added, "The strength of global stocks, supported by abundant liquidity, also stimulates new oil purchases," but he warned that oil and stock markets may witness a correction soon, as their rise does not reflect the current situation of oil demand and the global economy. And earlier this week, Saudi Arabia, the world's largest oil exporter, said it would cut production by an additional 1 million barrels per day in February and March.
UBS raised its forecast for Brent crude to $ 60 a barrel by the middle of this year, following the unilateral reduction of Saudi Arabia and expectations of a strong recovery in demand in the second quarter, with a recovery in travel due to the distribution of anti-Coronavirus vaccines. Meanwhile, Asian stocks rose to record levels today, while the Japanese Nikkei index reached a three-decade high, as investors turned a blind eye to the high incidence of Coronavirus and political turmoil in the United States, to focus on hopes for an economic recovery later in the year. LINK
************
Friday Fleming RV Update
Our military intel contact is confirming Mr. Fleming's sources and other sources saying that what happened in DC yesterday, though it may look bad, really speeded up the RV / GCR release process to get it out and get us in T4B started, & the shotgun liquidity release started, as quickly as possible BEFORE Wed 20 Jan;
He is confirming Mr. Fleming's source that said today Thu 7 Jan that the banker overseeing exchange centers in 5 southwestern states confirmed what other sources are hearing that we are VERY VERY CLOSE and to "keep [your] phone[s] charged and very close by" obviously implying that T4B start could be ANY TIME NOW through the weekend and into next week;
He is confirming Bruce's sources that some of the larger bond holders are to be paid overnight tonight Thu 7 Jan and have access to funds tomorrow Fri 8 Jan and the weekend, and his info is still that bond liquidity being released this way will provide liquidity for our T4B exchanges and for paymasters globally downstreaming payouts to T1-4 when the shotgun start is initiated.
He is confirming Mr. Fleming's sources that a schedule is being finalized for start of T4B in the release sequence and that security team audits are still ongoing as of tonight Thu 7 Jan to determine which accounts already received funds (money-of-account which many account holders have said they can see in their accounts but only accessible when T4B starts), and they are also determining what remaining accounts should get funds and which accounts and account holders should NOT get funds because of Deep State ties.(edited)
TNT:
Harambe: Bloomberg: Gold Falls Back Below $1,900 as U.S. Dollar Recovers
(1/8/21)
Gold dropped below $1,900 an ounce as the dollar pared losses and equity markets gained, as investors digested confirmation of a Joe Biden presidency and Democrat-controlled congress.
Bullion slipped as much as 1.8% in London, erasing gains made at the start of this year, as a measure of the dollar spiked from the day’s low. The move was exacerbated by the breaching of the 100-day moving average, a key technical level.
“The move lower is technically driven,” triggered by a stronger U.S. dollar and higher Treasury yields, said Georgette Boele, an analyst at ABN Amro Bank NV. The metal should now test support at $1,870 an ounce, she added.
A stronger U.S. dollar and higher benchmark Treasury yields have so far kept gold prices in check. A raging pandemic, uncertainty over the pace of global economic recovery and expectations of rising inflation all remain tailwinds for the metal.
The two Democratic wins in Georgia’s Senate runoffs this week give U.S. President-elect Joe Biden full control of Congress, paving the way for him to push through more stimulus and higher spending on economic reconstruction. While that’s boosted inflation expectations, it’s also driven Treasury yields higher, weighing on non-interest bearing gold.
Traders will now focus on U.S. non-farm payroll data, due later Friday, to gauge the health of the economic bounce-back. Poor figures will not necessarily be good for gold, according to Commerzbank AG’s Daniel Briesemann, given a slower recovery entails lower inflation.
Spot gold dropped 1% to $1,894.01 an ounce by 10:17 a.m. in London. Silver, platinum and palladium also declined. The Bloomberg Dollar Spot Index was little changed, after gaining 0.6% Thursday.
************
Harambe: Reuters: Zimbabwe central bank lets exporters hold dollars beyond 60 days
(1/8/21)
HARARE, Jan 8 (Reuters) - Zimbabwe’s central bank on Friday reversed a decision to force exporters, including mining companies, to sell a large portion of their dollar earnings if they were not used after 60 days.
Severe foreign currency shortages are the clearest sign of an economic crisis that has sparked intermittent shortages of fuel, power and medicines in the southern African nation.
Critics blame the crisis on financial mismanagement and corruption by the government of President Emmerson Mnangagwa. It says the economic troubles are caused by droughts as well as sanctions imposed by Western countries some two decades ago.
Reserve Bank of Zimbabwe governor John Mangudya said the bank’s monetary policy committee had agreed “to remove the compulsory requirement to liquidate all unutilised export proceedings after 60 days, with immediate effect”.
But exporters would now have to sell 40% of their earnings to the central bank-run foreign currency auction, his statement said. Previously, exporters were obliged to sell 30% but could only keep the rest for 60 days before having to auction it.
Mining companies, which generate the most foreign currency, have been lobbying the government to let them keep their dollars, saying this would encourage more investment.
The Chamber of Mines, which represents the biggest mining companies, did not immediately respond to requests for comment.
The government argues that it needs the foreign currency to buy fuel, medicines and food.