News, Rumors and Opinions Monday 12-5-2022
KTFA:
Toyvp: Fitch Ratings upgrades VietinBank's credit rating
December, 03/2022 - 08:32
The Outlook on the IDR is Positive, in line with Việt Nam's sovereign rating of 'BB' with a Positive Outlook. The Viability Rating (VR) was affirmed at 'b'.
HÀ NỘI — Fitch Ratings has upgraded Việt Nam Joint Stock Commercial Bank for Industry and Trade's (Vietinbank) Long-Term Issuer Default Rating (IDR) to 'BB' from 'BB-' on an upgrade of its Government Support Rating (GSR) to 'bb' from 'bb-'.
The Outlook on the IDR is Positive, in line with Việt Nam's sovereign rating of 'BB' with a Positive Outlook. The Viability Rating (VR) was affirmed at 'b'.
Accordingly, the credit rating upgrade of VietinBank is considered based on the following factors.
It is a large commercial bank with a key market share in providing banking and financial services in Việt Nam.
Fitch Ratings said that the Vietnamese government was active and ready to support the banking system, especially large state-owned commercial banks like VietinBank.
Therefore, Fitch has upgraded the Government's support rating for VietinBank (Government Support Rating - GSR) to the same level as the National rating.
Along with that, Fitch has adjusted the outlook on VietinBank's operating environment from stable to positive.
VietinBank's income prospects and profitability have both improved in recent years, with high risk provision buffers, and operating efficiency is expected to continue to grow sustainably.
As a result, Fitch has adjusted VietinBank's outlook on earnings and profitability from stable to positive.
The fact that Fitch Ratings upgraded VietinBank's credit rating contributes to affirming the effective and sustainable operation as well as the prestige and position of VietinBank in the Vietnamese financial and banking market. — VNS
https://vietnamnews.vn/economy/1400882/fitch-ratings-upgrades-vietinbank-s-credit-rating.html
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Courtesy of Dinar Guru https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
The TV is talking all the gold they now have. They're tying it in with the Monetary Reform. FRANK: Yes, they have told you in the past that you have a tremendous amount of gold to back up your reserves for your currency but you also have so much untapped reserve potential in the ground...Iraq is extremely rich...you will become a Mecca in the east.
Nader From The Mid East The decision this morning has been made to change the exchange rate. They actually said to the old one...we don' know if it's the 1160...then they said it's gonna go down slowly...the decision is made...maybe a couple weeks maximum you're gonna see some changes. So get ready for it.
Militia Man Article: "A deputy reveals the developments of the budget and calls for it to be sent before this day" Quote: "revealed the latest developments in approving the general budget, calling on the government to send it to the House of Representatives before the sixth day of this month...If the government succeeds in sending the general budget to the House of Representatives, the latter will continue to hold sessions until it is approved without going to the legislative recess." There are no coincidences to the on goings. The are pointing to a key date. 12/06/2022.
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TNT:
Harambe: Indonesia central bank says digital rupiah currency can be used in metaverse | Reuters (12/5/22)
Indonesia's central bank (BI) governor Perry Warjiyo said on Monday its planned digital rupiah currency can be used in the future to buy products in the metaverse.
BI launched the design for its digital rupiah last week, following many central banks around the world that are developing so-called central bank digital currencies (CBDCs).
Perry, speaking at an event on the digital rupiah, added the currency will use a technology platform that will be compatible with other central banks' digital currencies.
"...therefore in terms of infrastructure, it can be integrated, interconnected, and interoperable [with other CBDCs]," he said.
Perry said there will be an agreement among central banks on the exchange rate used for digital currencies and on its operational supervision, which includes cyber risk and capital flow.
Southeast Asia's biggest economy currently bans the use of cryptocurrencies as a means of payment, but allows transactions of the digital assets in the commodity futures market for investment purposes.
BI will roll out the digital rupiah in stages, starting from wholesale CBDC to development of the digital rupiah's business model for monetary operations and money market, and eventually a retail CBDC for everyday use.
MARKETS A LOOK AHEAD: Expect MORE Propaganda And Higher Stock Prices. Here's Why.
Greg Mannarino: 12-5-2022
The Currency Reset Will Wipe Out Creditors and Usher in CBDCs.
Maneco64: 12-5-2022
oday I had the pleasure of speaking with Clive Thompson. Mr. Thompson is a retired Managing Director at Union Bancaire Privée, UBP SA at UBP - Union Bancaire Privée in Switzerland.
We covered topics ranging from the Fed's balance sheet, gold and silver, and the inevitable currency reset that will usher in CBDCs.
Clive Thompson's article- Could the Federal Reserve go bust, or will it be re-capitalized?: https://www.linkedin.com/pulse/could-federal-reserve-go-bust-re-capitalised-clive-thompson/?trackingId
Video Chapters:
00:00 Introduction
01:35 The Fed's balance sheet and huge operational losses
15:00 Principles of wealth management
17:31 CBDCs and the coming currency reset