News, Rumors and Opinions Thursday Morning 8-19-2021
TNT:
Kaseyko1: : If I'm not mistaken, I believe the Afghanistan's currency was to be included with the currencies that are revaluing; if so, looks like their currency may be removed from the basket of other currencies. Just read the following news article: "The International Monetary Fund announced that Afghanistan will not be able to access the Fund’s resources, against the backdrop of the uncertainty surrounding the legitimacy of the authority in it after the Taliban took control of the capital, Kabul."
Kaseyko1: With all the progress that's been made by Iraq & how they've been doing a lot of talking, I'm thinking this issue may speed things up a little bit for us with the RV, though.
Yada: Kasey, Im of the mind they originally were going to release it, internationally, on the 1st but due to processing, it was extended due to the bond sales to increase their reserves 1st week of August. Believe their debt level was reduces as their reserve level increased
Kaseyko: In agreement with you; the Afghanistan issue seems to be having a slight impact for us, but not necessarily in a bad way, just want to be clear on that point; I've been reading info on the funds received by the Taliban so I'm sure this RV release is on the minds of those involved with the implementation of the RV.
Bushog: I don't see an RV for awhile with the Failure in Afghanistan
Yada: Iraq and Afghanistan are two different issues,, the progress Iraqs made is showing now for the release. Afghanistan is reason enough to do it so they don't end up like them.
Doc: I wonder if things are on hold or are things still moving toward end of month with no roadblocks. Are banks anticipating or have they retreated?
Kaseyko1: Doc, from what I've been reading, I would venture to say by the end of the month, if not sooner.
Yada: Doc, as I expressed to Kasey, things are full speed ahead with an expected end. The Supreme Court case has no effect on the release of the currency. Its am argument on procedures to address other issues and the Baghdad Summit is set to go in order to parade their accomplishments for investors and surely, they will not be boasting of progress with a program rate.
Courtesy of Dinar Guru
Petra The reinvestment, the reconstruction and rebuilding of Iraq all begin with the reinstatement...
Frank26 Article quote: "In a statement released by Al Masala in which it announced the launch of a national campaign sponsored by the Central Bank of Iraq to raise the awareness to support the national currency and the Iraqi economy. This campaign aims to shed light on the importance of dealing with the national currency and increasing the citizens confidence in it for the contribution of all sectors to maintaining the exchange rate." Darn right! Every bank. Every sector. Every province...behold! What we told you would happen has happened!
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KTFA:
Samson: Oil prices are near their lowest level in 3 months
19th August, 2021
Crude oil prices continued their losses for the sixth day, Thursday, hovering near their lowest levels in 3 months, affected by growing concerns about slowing fuel demand amid a rise in Corona virus cases around the world, and high gasoline stocks in the United States.
Brent crude was down 85 cents, or 1.3 percent, at $67.38 a barrel by 05:10 GMT, after falling 1.2 percent on Wednesday. US West Intermediate crude lost 93 cents, or 1.4 percent, to $64.53 a barrel, after falling 1.7 percent in the previous session. Both benchmark indices have lost more than 5% over the past six sessions, and are trading near their lowest level since May 24 in the previous session.
The slide continued as investors remained concerned about an increase in infections caused by the delta-type coronavirus worldwide. And the Energy Information Administration said yesterday, Wednesday, that US crude stocks fell by 3.2 million barrels last week to 435.5 million barrels, the lowest level since January 2020, but gasoline stocks rose by 696,000 barrels to 228.2 million barrels.
The minutes of the US Federal Reserve's July 27-28 meeting showed that officials indicated that the spread of the variable delta could temporarily delay the full reopening of the economy, and restrict the job market. LINK
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Samson: IMF suspends cooperation with Afghanistan
19th August, 2021
The International Monetary Fund announced that Afghanistan will not be able to access the Fund's resources, against the backdrop of the uncertainty surrounding the legitimacy of the authority in it after the Taliban took control of the capital, Kabul.
"As always, the IMF is guided by the views of the international community," an IMF spokesperson said.
"There is currently a lack of clarity within the international community regarding the recognition of the government of Afghanistan, and as a result this country does not have access to the Special Drawing Rights or any other resources of the International Monetary Fund," he added.
The Taliban announced its control over most of the country last Sunday, and the representative of the Taliban's political office, Muhammad Naim, said that "the war in Afghanistan has ended, and the form of the government will become clear in the near future." LINK
Keiser Report | China burning their treasure fleet again? | E 1738
Aug 19, 2021
Max and Stacy ask what would have happened had China shut down for the past year as did much of the West. Without supplies of goods on which to spend stimulus checks, what would the inflation picture look like?
They then ask whether or not China is using this historic moment to burn their Treasure Fleet instead of capitalizing on their manufacturing advantage.
In the second half, Max continues his interview with Alasdair Macleod of GoldMoney.com about his latest piece, ‘The Extinction of Gold Derivatives’, and what it has to do with the Nixon Shock and the Basel III net stable funding ratio.