The old saying that, “an elephant never forgets” certainly doesn’t apply to the short memory gurus, they tend to forget that last thing that came out of their mouth.
So I have some interesting news to share a little later in the post, but let’s get to the breakdown:
10-11-2024 Wolverine The process has defiantly started…It is expected to happen within the next few days and [definitely] within this month.” I mean, do we really need to say anything more about this quack? Every week, every month, every year. Just ridiculous that anyone would believe a single word out of this guy’s mouth. But you know what that means right? You can count this month out, because he said it!
10-11-2024 Militia Man We had numerous articles about the WTO. We already knew they had completed their requirements. Now they’re hammering it home again they’re gearing to go international. What are we waiting for? I think what we’re waiting for is the exposure of the 2024 tripartite budget. Why? Because it’s go components in it for…investment to pay for the development projects. This one is complicated, the tripartite budget is about to enter the last year of the three year process, which is disappointing when you consider how promising it was when they put the three year budget in place. The budget was exposed almost two years ago, but like every other budget they’ve ever put forth, it was never fully implemented.
10-11-2024 Pimpy The difference between Kuwait and Iraq is…Saddam Hussein printed so much money that their dollars were super inflated. They had to add zeros to their currency…Kuwait didn’t add any zeros...If [Iraq is] going to go to that exchange rate of $3.28 they’re not going to do it with these inflated dollars. They’re first going to delete the zeros, then they’ll change the exchange rate. That means your 25,000 dinar is only going to be 25 dinar…For us Americans when we go to make our exchange we now have a 25 note…times $3.28…Your 25 note is now worth $82…Is there a possibility they keep the zeros on there? Yeah, there’s a possibility. Anything is possible…But…the odds are they’re going to remove the zeros. So here’s my questions here, if all they were going to do was drop the three zeros, then why not go ahead and just do it. There’s no real advantage to the economy to drop the zeros as they don’t have hyperinflation, in fact, their inflation rates are on par with the U.S. per capita. It just doesn’t make sense it would take this long to do nothing but change currencies and really not increase the value. The second thing that bothers me is that the “hyperinflation” that occurred right before the war when the 20 year span from 1980 til 2000 the value fell from 3.98 to 1.09, still valued more than the USD. It wasn’t until the war and subsequent currency change that the three zero notes were added to help offset the artificial suppression of values as part of the penalty for the war.
So let’s switch gears and discuss the Chinese Yuan and Vietnamese Dong. The U.S. has spent a number of years trying to negotiate the increase of the Yuan’s value. They have created a huge trade deficit with the devaluing of the currency. Let’s review a few things, while these facts and figures are generally positive for China, that is not the case for everyone. U.S. manufacturers and workers have complained about the Chinese trade surplus, claiming that the yuan peg has granted Chinese companies an unfair advantage. While opponents of yuan pegging have complained, they may be oversimplifying the situation. An artificially low yuan is not without its benefits. The currency peg means cheap Chinese goods for U.S. consumers, a development that can help keep overall inflation at a modest level. The benefits of less expensive goods extend to businesses. U.S. companies that use less expensive imported items from China to make goods enjoy reduced production costs. With lower expenses, firms can either lower the prices for consumers, increase their profits, or both.Pegging the yuan is a strategic policy move that provides crucial benefits to the Chinese economy. Using this approach, the People’s Bank of China increases the appeal of Chinese exports in the global marketplace and helps fuel greater prosperity for China. Is the Yuan backed by gold? No, China’s currency is not backed by gold. It is a mix of a currency that is pegged and free-floating. It is pegged to a basket of goods, where the value is allowed to float no more than 2% against a fixed value that is set daily. So if we look at the differences in building the economy of Iraq, they have multiple assets including gold, oil and additional minerals to back the value of the currency.
Just on the strength of Quackhead saying it was happening this month, I’ll go with no. There are some good things happening, and some suspect things, but they are moving forward. Let’s see what happens in November now since October is off the table LOL.
BWM