News, Rumors and Opinions Monday Morning 10-21-19
TNT:
JCNoble: This is the 9th week the exchange centers will be manned and hopefully the RV happens. I imagine those folks are ready for this to be done.
Kozmo: jcnoble. Have you been told the exchange centers will be manned today?
Makeitsow: That is the rumor…Tony and Ray said so
JCNoble: kozmo not specific but my understanding was the are due back. Hope they are but I suppose they may not be coming in.
Kozmo: The centers don’t make sense to me. Supposedly they have been in existence for years and I can’t see banks spending that kind of money.
JCNoble: kozmo I understand. When I asked that question someone posted that the govt was … but I have no idea.
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Tishwash: RESERVE BANK OF ZIMBABWE Zimbabwe’s cash-starved government prints new banknotes
RESERVE BANK OF ZIMBABWE
Zimbabwe’s cash-starved government prints new banknotes
Reserve Bank starts printing higher denominated notes ‘to meet required cash demands’
Zimbabwe’s cash-strapped government has started printing new banknotes to ease cash shortages that have seen the few notes in circulation being traded at a premium on the parallel market.
Economists, however, warn that the printing of cash might further fuel hyperinflation that is now the second highest in the world after Venezuela.
Zimbabwe has been plagued by cash shortages for the past three years with most ATMs no longer dolling out cash.
Last week, the Reserve Bank of Zimbabwe (RBZ) said it had started printing higher denominated notes as part of its currency reforms following the introduction of a quasi-currency in June.
“I am not privy to the dates, but what is happening is that new notes will be available soon so that they meet the required cash demands. Obviously, these notes are going to be printed outside the country and this requires foreign exchange. That is all I can say at the moment,” RBZ's deputy director for finance and markets, William Manimanzi, told parliament’s budget and finance committee on Wednesday.
He could not give dates when the money will be available.
In an interview with Business Day on Sunday, Harare-based economist John Robertson warned the central bank against excessive money circulation that will drive up inflation.
“There are serious cash shortages at the moment, but the question is 'Will the government be disciplined enough if it starts to print more money?' They have to be cautious so that printing of money does not contribute to any further rise in inflation.”
Zimbabwe is experiencing its worst economic crisis in a decade, with inflation at more than 300%, while the country is also plagued by shortages of foreign currency, fuel, electricity and basic foods.
The country is also in the grips of a currency crisis as the local unit, which was at one time pegged at 1:1 with the US dollar, is now trading at 1:20 with the greenback. link
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Tishwash: Urgent .. A senior US official will arrive in the next 48 hours to Iraq
A senior US official will arrive in Iraq within the next 48 hours to discuss the withdrawal of his country's forces from Syria and protect Iraq from the threat of ISIS. link
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Tishwash: Abdul Mahdi's office confirms that the entry of US troops to Iraq was in coordination with the government
A source in the office of Iraqi Prime Minister Adel Abdul-Mahdi said on Monday that the American forces that entered Iraq from Syria towards the Iraqi Kurdistan region were in coordination with the government.
The source said in a press statement that "Abdul-Mahdi just ended a meeting with the US ambassador to Iraq Matthew Toller and touched on this file," noting "not to allow any US force to enter Iraq without consent, but these forces were in coordination and approval."
Earlier in the day, Reuters news agency reported that US forces entered Iraq from Syria through the Suhaila crossing in the northern Iraqi province of Dohuk. link
Courtesy of Dinar Guru
Francis Albert Some believe that Iraq is Sovereign and the GOI and CBI can do what they wish. This is just a short paragraph from Sadr's Friday address to the mosques. “...They all know that they have surrendered to those outside the border and that they will not be able to make any decision without their consent,”
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The Crash In Money Velocity May Have Saved Us From Hyperinflation! Is It Set To Reverse?
Silver Report Uncut: Oct 21, 2019
First, we answer the question. what is money velocity? The crash in money velocity may be what has saved the economy from experiencing hyperinflation according to the Fed. Apparently, they were confused about why the excessive money printing had not resulted in hyperinflation.
The answer they came up with is something they still don't understand either. It's the crash in money velocity meaning people are hoarding cash rather than spending it or investing it in stocks.
We find this is also the reason we have not seen a gdp above 3% in the past ten years.
David Morgan: Run Out Of Dollar Into Gold Will Make History
SilverDoctors: Oct 17, 2019
When faith and confidence are lost in the US dollar, there will not be many places people can go to convert their rapidly devaluing currency into something real, except for into gold & silver.
In fact, David says the coming run to gold will be historic, and he expects silver to perform even better! David sat down with Half Dollar on Thursday to discuss a variety of important economic and market topics, including: -
What is on David's radar right now? - What does David make of all the new paper gold financial products? - Is gold basing at $1500, or do we have further to fall? –
How is silver holding up? - David recently got back from Mexico, what are his observations on the economy South of the border, and how does David see the US economy, fundamentally speaking? –
What about the gold & silver mining companies?
For discussion on all of those topics and a whole lot more, tune-in to the interview in its entirety!