BACKDOC » October 4th, 2016
SOME TIME BACK AS YOU MAY RECALL I MENTIONED THAT THE POUND MAY POTENTIALLY GO TO PARITY. THIS MORNING ON BLOOMBERG THAT DISCUSSION IS FINALLY BEING STATED! MMMMM
KEEP IN MIND THAT TRADE AND SHIPPING WILL BE THE GAME IN THE NEW REALITY! IT MAKES IT EASIER FOR FREE TRADE TO HAVE CURRENCY PARITY WOULDN'T IT? MMMMM
OVER THE WEEKEND WE SAW THAT HAPPEN WITH CHINA AND SAUDI ARABIA! THIS ESSENTIALLY WILL EFFECTIVELY WORK THE SAME AS A DEPEG SINCE THEY CAN SELL THEIR OIL IN CHINESE YUAN BYPASSING THE DOLLAR!
AS THIS BEGINS TO PLAY OUT IT WILL HELP TO STABILIZE THE YUAN WHILE SHRINKING DOLLAR DEMAND. THIS WILL HAVE A SERIOUS AFFECT ON THE DOLLAR!
samson said (Post #134) Tue Oct 4, 2016 11:23AM
The British pound sterling is hitting new lows against dollar and euro amid Brexit concerns. (File photo)
The British pound has plunged to new lows against the euro and the US dollar due to growing concerns about Britain’s departure from the European Union (EU).
Sterling slumped to $1.2740 on Tuesday, its lowest in the past 31 years. This is almost 15 percent weaker than before the EU referendum on June 23, when nearly 52 percent of British voters decided to end the country’s membership in the EU.
The currency also traded at 87.66 pence to the euro, striking a fresh three-year low point against the European currency.
British Prime Minister Theresa May said Saturday that the formal process of leaving the EU will begin by March 2017 and from there it would take two years to complete the process.
Britain and the EU are at odds over a string of issues, particularly the UK’s inclination to remain a member of the European single market after leaving the bloc.
Experts have warned that leaving the EU will severely hurt London’s position as a financial hub, unless the UK decides to keep its access by loosening its stance on immigration.
This is the only way that the UK can keep its access, which is contingent on countries agreeing to let European Union citizens live and work anywhere in Europe.
However, it is not likely that the so-called Leave campaigners would agree to trade tighter immigration control with access to the single market.
Speaking to delegates, May claimed that people who floated the idea of a “trade-off” between controlling immigration and trading with Europe were looking at things the “wrong way.”
“This is about delivering for the British people, and this is not just about leaving the EU, it’s about that essential question of the trust people have in their politicians. The people have spoken, we will deliver on that,” May told BBC on Sunday.
Walkingstick said (Post #135)
Central: The dollar fell a natural reserve and we have enough to import a long time
Counting the Iraqi Central Bank on Tuesday reduced its reserves from the dollar, "a natural phenomenon" due to lower selling prices, and stressed that this decrease was "vain" and achieved "very important" economic purposes, social, and as pointed out that the current reserves "are sufficient to cover currency exporting and imports for a long time, "pointed out that to avoid falling is by avoiding the deficit in the public budget.
The governor of the central bank on the Keywords in an interview (range Press), "The decline in central bank reserves is a natural because of the fall in oil prices worldwide phenomenon, what impact directly on Iraq's financial revenues," returned to "the bank's policies were wise and were based on a balance required between maintaining the desired stability in the exchange rate of the hand, and meet the needs of imports by the private sector on the other. "
He Keywords that "the decline of these reserves did not go in vain and it has achieved a very important economic purposes, social, and not, as some believe that he went without a little help," adding that "the reserves are still good enough to cover the exporting currency and imports for a period of six months exceeds a limit the minimum required, according to the global financial indicators. "
Keywords and continued, that "to avoid low reserve is by avoiding the public budget deficit and large amounts."
The governor of the central bank on the Keywords confirmed, in the (11 September 2016), the International Monetary Fund's "surprised" that Iraq's reserves of foreign currency exceeded expectations by about ten billion dollars.
It is noteworthy that the Iraqi Central Bank's refusal, during (the month of January 2016), the government has directed withdrawal of the financial reserves, and stressed that the law does not allow the government to bite into hard currency reserves, as called for government to issue bonds and sell them to banks.
BACKDOC » October 4th, 2016
ALL OF THE SUDDEN THEY HAVE THE NEED TO DE-DOLLARIZE, HEE HEE. AHH BUT THOSE DOLLARS SEEMED TO SERVE THEIR PURPOSE DIDN'T THEY? LOL
WITH SOME TYPE OF ACTION TAKEN THERE SEEMS TO BE NO REASON TO HANG ON TO EXCESS DOLLARS THAT ARE GOING DOWN IN VALUE RIGHT? HEE HEE
IT SEEMS THEY HAVE ENOUGH FOR A LONG TIME NOW! GOTTA LOVE THIS ARTICLE!
ACTIONS MEAN THINGS!