.Unsound Money, Unsound Economy

by Tyler Durden

Mon, 09/16/2019 - 14:00

Authored by George Ford Smith via The Mises Institute,

Most people who have undertaken a formal study of economics end up accepting such things as the necessity of a central bank to prevent or at least ameliorate recessions. They take as a given the need for government intervention in the economy, or if not as a given, as explained by countless historical incidents of injustice.

 Perhaps most of all, they regard anyone calling for an unregulated gold coin standard as so hopelessly backward and naïve that refutation seldom goes further than rolling one’s eyes.

.TNT:

Cutebwoy:  Fears in the Syrian street after the exchange rate of the lira against the dollar to the highest level since the beginning of the war

The fall in the exchange rate of the Syrian pound, on the black market, against the dollar, to its lowest rate since the beginning of the war raised many concerns and questions in the Syrian street, after it reached 675 pounds per dollar.

A number of Syrian officials and economists have presented the government with a number of solutions to counter this major shift. Where the Director General of the Syrian Real Estate Bank, Madin Ali, proposed to take punitive measures against those found to be involved in speculation in dollars, whether banks, people or actors, and reconsider the policy of financing imports, and perhaps withdraw from it and leave the subject to the private sector, with strict and strict restrictions on Import only for the maximum need.

.KTFA:

Walkingstick:  Good evening, all...I, just spoke... with Frank...I would take note of what he shares.. New info (opinions) and clarity on opinions already shared....Regards. WS ...

Frank26:  COINS OR FILS

September 11, 2019

F26:If you take all the people in the world who have dinars  as an investment outside Iraq and add them all up….it still doesn’t even come close to one countries foreign reserves with their dinar,  we the investors are a pimple on the back of a Brontasausus….…..we don’t matter to the CBI…

Firefly77 Report :  The TV says the parliament is coming back for its first session of their new term this Saturday (9-14-19) . Also they ar showing the delegation from the Kurds and showing dates of Wed. for them to come to Baghdad and discuss the 2020 budget.  There were many important meetings today with all the Private Banks in Iraq and the finance minister…..They are not releasing info on that yet.

Then we went to our bank…and we asked them “When will we see more on the coins that are coming?”  My teller said “Look, tell Mr. Frank (lol) that we do not know a date…but, its foreseeable in the very near future. “

.KTFA:

Tivon:  Something feels eerie about this week like this placid lull before everything breaks loose. Parliament is back in session for this upcoming weekend. They proclaimed to their citizens that their fiscal policies would be enacted during the first legislative term is over.

The private banks will be opening with the next 12 days. The Oil & Gas Law is supposed to be passed this month. Along with the ISX/NASDAQ beginning trade on Oct 1st.

Logic dictates that a new International rate should be out before the 14th. This is based on what we already expected to happen before the tenth from information revealed at the end of August.

 Here we are on the cusp of two weeks remaining in September. I don't think this week is meant to be another empty slate of promise being withheld for everything to crash and collide next with events that are contingent upon things happening this week.