News, Rumors and Opinions Tuesday Morning 2-9-2021
RV Excerpts from Restored Republic via a GCR: Update as of Tues. 9 Feb. 2021
Compiled Tues. 9 Feb. 2021 12:01 am EST by Judy Byington
Judy Note: According to our Military Intel Contact there was a problem with people in the Security and Exchange Commission (SEC) confiscating bonds. That problem has been dealt with and now 900 active military personnel were working on getting out the RV Shotgun Start. That also meant that now the Military had complete authority over all US financial matters.
On Mon. 8 Feb. at 2 pm EST after a RV Team meeting, there was another release of liquidity. The release sequence would continue with lower level audits and checks for a liquidity start either later this week, or by Mon. 15 Feb.
Read full post here: https://inteldinarchronicles.blogspot.com/2021/02/restored-republic-via-gcr-update-as-of_9.html
Courtesy of Dinar Guru
RVAlready The CBI gave a rate to the government last week...Parliament is now saying the exchange rate will not change in this budget...The parliament is not allowed to affect the rate. We just need a vote and a final budget...Iraq dispensing a great load of bull in news stories today. We’ll see what happens.
MilitiaMan Stock exchanges that need to be on the same page and able to clear trades with not only stock but one another's respective currencies, as they need to communicate. The timing of all this is not by a coincidence in my opinion it is by design. The platforms are in place and now will apparently start to connect in real international time and pricing. BUNA imo requires article 8 compliance with the IMF.
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TNT:
Tishwash: The dollar explodes against the Iraqi dinar": Bad dealings and the rise in oil are "striking hard" .. Will it fall to 13
The economic expert, Wissam Al-Tamimi, said that there is no justification for keeping the dollar high in the local market in light of the rise in oil prices and their recovery, pointing out that the siege of the people must end before the street explodes due to mishandling of the citizen's pension.
"The government went to the poor class to achieve financial gains at its expense, as it resorted to raising the exchange rate of the dollar and tightened customs procedures and fees on goods and goods amid the greed of the merchant who could only raise the price of his goods for the citizen," Al-Tamimi said in statements monitored by "Yass Iraq." .
He added that "the government no longer has any justification for continuing to raise the dollar exchange rate in the local markets, especially with the recovery of oil prices and the Basra Light crude exceeded the threshold of $ 60 a barrel."
And that "the price of a barrel of oil, which exceeded the 60 dollars, is equivalent today to 87 thousand dinars, while the price of oil a year ago recorded the same price in dollars, but it is less valuable in dinars, and the government achieved large revenues at that time and was able to overcome the budget deficit."
He explained that "the government's continuation of this approach towards the citizen will make the street explode with anger, as there is no justification for the continuation of the current economic policy."
Since the House of Representatives received the 2021 budget, passing it through several amendments and discussions, and attempts to host the central bank governor, attempts are being made to re-debate the price of the dollar and the possibility of reducing it to 1300 dinars to the dollar, in addition to several MPs collecting signatures to reduce the price of the dollar against the dinar after raising it by a government decision to 1450.
These demands gave a "dose of hope" to the Iraqi street, which still hopes to bring the exchange rate down to its normal state or at least mitigate its effects by choosing an average price of 1,300 dinars against the dollar.
While a number of MPs and experts are reviewing the rise in oil prices and reducing the deficit, they pointed to the possibility of reducing the dollar’s exchange rate and the need to raise it to this rate because the main reason, which is the huge financial deficit, has been negated by the rise in oil prices.
However, the Parliamentary Finance Committee settled last Friday the matter related to the demands of members of Parliament to change the price of the dollar in the budget law, while confirming that the price is fixed according to the set by the government.
Committee member Shirwan Mirza said in a press statement, followed by "Yes Iraq", that "the price of the dollar is fixed and has not been manipulated, given that it was determined in accordance with the financial policy of the Iraqi government."
He added that "the requests of members of the House of Representatives regarding changing the exchange rate of the dollar against the Iraqi dinar, do not go beyond being requests only," stressing that "the Parliamentary Finance Committee does not have any authority to change the exchange rate."
Mirza continued, "The Parliamentary Finance Committee worked according to the powers granted to it only to amend and replace some articles of the budget law for the year 2021."
On the other hand, the economic expert, Rasim Al-Akidi, said that the dollar exchange rate in the Iraqi market will witness 3 successive jumps, before it reaches the price of 1600 dinars per dollar.
"The exchange rate of the dollar in the 2021 budget was set by the government at 1450 dinars, and it has witnessed fluctuations in terms of upward and downward movement, but in any case, the decision to spend in the budget will not change," said Rasim al-Aqidi, in televised statements.
Al-Aqidi added, that the decision to change the exchange rate, “came to prevent neighboring countries from benefiting from the old exchange rate, which was an understatement, and to push most of the banks of neighboring countries or political forces to share economic interests, obtain Iraqi cash and collect the largest value of the dollar in past years, as it is Hard currency ”.
He continued, "The exchange rate of the dollar will jump to 1490 dinars after the budget is approved, and the exchange rate set by the government is fixed at 1450, and then it will witness another rise after the launch of 50% of the financial allocations for projects and ministries, and it reaches from 1520-1550 and then witnesses a third increase. Of its kind, when the exchange starts, that is, whenever cash is pumped into projects, whether investment, loans or salaries, it will pay to increase the withdrawal on the dollar, because the rates of demand for the purchase of materials from the markets of all kinds will rise at higher rates.
The economic expert pointed out that "a file to import will push forward in the rates of recovery of the dollar, and at that time the dollar exchange rate will rise, perhaps to 1600 dinars in exchange offices."
Keiser Report | Central Banks Swim Against the Rip Current | E1656
Feb 9, 2021
In this episode of Keiser Report, Max and Stacy look at the central banks getting ready to deploy yet more ‘tools’ to fight the economic and banking rip currents.
In the second half, Max continues his interview with Mike Maloney of GoldSilver.com about the US dollar at fifty.
Stimulus & More Money Printing Cannot Fix The Economy
The Nomad Economist: Feb 8, 2021
The US is about to experience one of the greatest inflationary periods in world history. Any credibility the Fed has left will be lost. Federal Reserve Notes soon won’t be worth a Continental.
There are numerous signs that the economy has suffered fatal wounds. Permanent business closures are rising as the economic impacts of the pandemic-induced government shutdowns continue to ripple through the economy.
And it’s not just the problems facing small businesses. I have already reported on the looming tidal wave of evictions, the increasing number of mortgage delinquencies, the rising number of over-leveraged zombie companies, and the tsunami of defaults and bankruptcies on the horizon. Given the deep wounds inflicted on the economy by the shutdowns, we should expect a quick bounceback even with a vaccine. As I have said over-and-over again, curing the pandemic won’t cure the economy.
And then there is the dirty little secret Powell will never admit to. The Fed doesn’t have another rabbit to pull out of its hat. The cure that the Fed is offering up is actually killing the patient. Ultimately the Fed’s monetary policy is going to collapse the dollar.
There were a number of inauspicious records set in 2020 and the impacts will continue to reverberate through the economy in the future.
The Federal Reserve created money at a record rate. It also increased its balance sheet to record levels. And not to be outdone, the US government set a budget deficit record.
These three records were actually linked. The money printing and expansion of the Fed balance sheet were necessary to monetize the massive federal debt. And there is no sign that anything will be different in 2021.
https://www.youtube.com/watch?v=6awzdoh8_RI