(ANKARA) Currency Report: In recent weeks we have had our share of humorous hot takes on the current state of Turkey’s currency, which thanks to the “sage” economic despotism of the country’s authoritarian ruler has been in freefall for much of the past decade #AceNewsDesk report

#AceNewsReport – Nov.17: While there was no immediate catalyst for today’s drop – the lira only dropped below below 10 vs the dollar for the first time ever last Friday – traders are dreading this Thursday’s central bank meeting at which policymakers are expected to cut interest rates further even as Turkish inflation tops 20%.

#AceDailyNews says according to a News Report: Turkey On Verge Of Currency Collapse As Lira Implodes, Crashes 4% In Minutes

folks, there’s no stopping this train. pic.twitter.com/VCdQyBmnIt

— zerohedge (@zerohedge) November 12, 2021

Erdogan wants hyperinflation

— zerohedge (@zerohedge) October 13, 2021

… continued to be the gift that keeps on giving, and collapsed as much as 4% in minutes, in an episode right out of hyperinflationary Argentina or Venezuela.

Citing two local traders, Bloomberg said that the recent move of the lira “is the result of a surge in local demand for the dollar” which, of course, is obvious… even more so since it is extremely difficult if not impossible to buy bitcoin or other cryptos as a hyperinflation/currency collapse hedge.

The central bank is expected to cut its benchmark one-week repo rate by a further 100 basis points this week to 15%, according to a Bloomberg survey of 21 participants. Meanwhile, inflation is at or above 20%.

And while conventional economists claim there is no way that Turkey can be the next locus of hyperinflation, all we can say there is give Erdoganomics another five years (because Erdo isn’t going anywhere) and check back then.

#AceNewsDesk report ……………Published: Nov.17: 2021:

Editor says …Sterling Publishing & Media Service Agency is not responsible for the content of external site or from any reports, posts or links, and can also be found here on Telegram: https://t.me/acenewsdaily all of our posts fromTwitter can be found here: https://acetwitternews.wordpress.com/ and all wordpress and live posts and links here: https://acenewsroom.wordpress.com/and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#currency, #economy, #turkey

(RUSSIA) JUST IN: The main ruble-denominated index on the Moscow Exchange reached the 3,700-point level for the first time ever on Monday, as global oil prices continue to climb #AceNewsDesk report

#AceNewsReport – May.11: The index has risen over 12% since the beginning of the year and is up by 4% in May alone. Monday’s gains mark the second time in less than a week that the Russian stock market has smashed its own record:

MOSCOW: Russian stock market smashes historic high on weaker dollar & rising crude: ‘The ruble-traded MOEX index was up nearly 0.7% on Monday afternoon and stood at 3,708 points as of 11:55am GMT. Earlier in the day, the index, which covers stocks of major Russian companies listed on the Moscow Exchange, hit a new all-time high of 3,711 points’ as Russian economy returns to growth after pandemic-fueled downturn

10 May, 2021 13:08 

Russian stock market smashes historic high on weaker dollar & rising crude
Currency Report:

The stock rally comes as global crude prices continue to rise. It could be also linked to the inflows of cash from funds investing in Russia, RBC reported, citing analysts from investment company Freedom Finance. They pointed that the weakening of the US dollar boosts commodity prices as well as safe heaven assets like gold, and a lot of raw material companies are present on the Russian market.

#AceNewsDesk report ………Published: May.11: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#russia, #currency, #finance, #moscow

(HIDALGO, Tx.) CBP/OFO REPORT: Hidalgo International Bridge were busy this past weekend with the interception of three seizures of hard narcotics worth $1,469,500 and a seizure of undeclared U.S. currency in the amount of $90,000 #AceNewsDesk report

#AceNewsReport – Apr.30: These interceptions of hard narcotics, although compact in size, illustrate both the pervasiveness of the drug threat and the resolve of our officers to keep our country safe by seizing these loads,” said Port Director Carlos Rodriguez, Port of Hidalgo/Pharr/Anzalduas. “Our robust enforcement posture in the outbound arena was instrumental in the discovery of the unreported U.S. currency.”

‘CBP Field Operations at Hidalgo International Bridge Scores Big with Nearly $1.5 Million in Hard Narcotics Interceptions and Unreported Currency’

On April 24, 2021, CBP officers working at the Hidalgo-Reynosa International Bridge referred a Chevy Trailblazer driven by 38-year-old man, a United States citizen from Reynosa, Tamaulipas, Mexico for further inspection which resulted in the discovery of packages of suspected narcotics hidden within the vehicle’s gas tank. Officers removed 24 packages of alleged methamphetamine weighing 27.60 pounds (12.52 kg) and nine packages of alleged marijuana weighing 9.9 pounds (4.5 kg). These drugs are valued at $554,000.

Later, at the same border crossing, CBP officers referred a 56-year-old woman from Paris, Texas and the Honda Accord sedan she was driving for a secondary examination. Officers conducting the inspection discovered that the vehicle’s gas tank contained alleged liquid methamphetamine and ultimately, 27.42 pounds (12.44 kg) which are valued at $548,500 were removed from the tank.

Also, CBP officers working outbound operations encountered a 27-year-old man, a United States citizen from Reynosa, Mexico driving a Ford Fusion attempting to drive into Mexico and conducted a secondary examination which resulted in the discovery of $90,000 unreported U.S. currency hidden within the vehicle.

Lastly, days earlier, CBP officers encountered a 36-year-old man from Houston driving a 2008 Volkswagen Touareg and referred him for further examination. Officers discovered 15 packages of alleged methamphetamine weighing 17.8 pounds (8.08 kg) and one package of alleged heroin weighing 123 grams which have a combined value of $367,000.

In all the narcotics seizures,  (canine teams) assisted in the secondary inspections which allowed the officers to discover the narcotics hidden within the vehicles.

CBP OFO seized the narcotics, currency, all the vehicles and arrested the persons involved who were turned over to the custody of agents with Homeland Security Investigations (HSI) while they continue the investigations.

#AceNewsDesk report ………Published: Apr.30: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#cbp, #currency, #narcotics, #ofo, #texas

(SAN JUAN, Puerto Rico.) CBP REPORT: Officers seized more than $1 million in undeclared currency found concealed within two wooden tables being transported inside a van destined to Santo Domingo, Dominican Republic on board M/V Kydon #AceNewsDesk report

#AceNewsReport – Apr.23: The transportation of currency or monetary instruments, regardless of the amount is legal.”, stated Roberto Vaquero, Assistant Director of Field Operations for Border Security in Puerto Rico and the U.S. Virgin Islands:

“CBP Officers in San Juan Seizes More than $1 Million in Undeclared Currency Concealed in Two Wooden Tables destined for Dominican Republic on the Ferry: However, when entering or departing the U.S. in possession of monetary instruments of more than $10,000, you must file a report with us: The concealment of currency can be indicative that the currency is the product of illicit activities.”

CBO Officers find the concealed currency.

On April 19, during an outbound inspection authorized by federal law, the CBP Contraband Enforcement Team selected a silver colored 1989 Ford F800 cargo truck.  A CBP K-9 alerted to a smell it is trained to detect for which CBP Officers proceeded to unload the cargo inside the truck. 

The K-9 alerted again to two boxes labeled “dining table.”  Inside CBP Officers found currency amounting to $1,000,100. 

Last September, CBP officers found $27 million in boxes bound to St. Thomas.   

There is no limit as to how much currency travelers can import or export; however, federal law requires travelers to report to CBP amounts exceeding $10,000 in U.S. dollars or equivalent foreign currency. If the amount is $10,000 or higher, they must formally report the currency to CBP. Failure to report may result in seizure of the currency and/or arrest.

CBP’s mission is to safeguard America’s borders thereby protecting the public from dangerous people and materials while enhancing the Nation’s global economic competitiveness by enabling legitimate trade and travel.

#AceNewsDesk report ……….Published: Apr.23: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#cbp, #currency, #dominican-republic, #puerto-rico, #smuggling

(USA) Digital Currency Report: Facebook plans to launch a ‘Stable Coin’ to compete with U.S dollar & Morgan Stanley warns of China’s central bank currency next year #AceNewsDesk report

#AceNewsReport – Apr.21: A couple of days ago, Morgan Stanley warned that China’s new digital renminbi – the first “central bank digital currency” (or CBDC) –could cement its status as the next reserve currency:

Facebook Plans To Launch Stablecoin That Will Compete With Dollar Early Next Year: Morgan Stanley warned China new digital currency could arrive next year ….

Morgan Stanley: If A CBDC Gains Acceptance For International Transactions, It Could Become The New Reserve Currency

By Chetan Ahya, Morgan Stanley’s Chief Economist and Global Head of Economics

Central Bank Digital Currencies – The Next Disruption: We do not usually associate disruption with central banks. But a major move to introduce central bank digital currencies (CBDCs) could actually disrupt the financial system:

CBDCs are a new form of digital cash intended to serve as a substitute for physical cash. They will be a liability of the central bank, which will maintain them in a centralized ledger. CBDCs should not be confused with cryptocurrencies, which either are pegged to an underlying asset or backed by a public blockchain. Cryptocurrencies are not a viable form of digital cash for payments on a large scale, given the high computational and energy intensity of the validation process using distributed ledger technologies. However, they will continue to perform other functions. For instance, investors may perceive that cryptocurrencies can be a store of value (akin to precious metals) to hedge against the effects of central banks’ aggressive monetary easing.

Efforts to introduce CBDCs are gaining momentum, with as many as 86% of the world’s central banks exploring digital currencies. China has launched pilot trials in a number of cities, the ECB recently concluded a public consultation on a digital euro and will make a decision this summer, and the Boston Fed is set to release its initial research in the fall.

What explains this sudden concerted interest? We see three main reasons:

  1. Monetary sovereignty: Private payment networks have proliferated rapidly. As they gain market share, these networks can become the primary means of transaction for many users. The central banks’ concern is that money will circulate almost exclusively within the networks, posing a threat to central bank control of the monetary system.
  2. Financial stability: Any potential failure by a private provider of digital money could disrupt the payment system and lead to financial stability risks. While regulators have taken steps to mitigate these risks, they cannot eliminate them. In contrast, the central bank both creates and holds a CBDC, hence will be able to guarantee its reliability as a medium of exchange for transactions.
  3. Financial inclusion: The rise of private, narrow money networks risks excluding segments of the general public, e.g., the unbanked population. A CBDC, just like physical cash, can be made broadly available and may even foster greater financial inclusion.

With these objectives in mind, we think that central banks will implement consumer-facing retail digital currencies, accessible to the public through financial intermediaries and running on a centralized ledger system controlled by monetary authorities.

Nevertheless, when something as fundamental as what you use to make payments changes, the effects can be far-reaching.

Commercial banks will face the risk of disintermediation. Once CBDC accounts are launched, consumers will be able to transfer their bank deposits there, subject to limits imposed by the central banks. Moreover, the technological infrastructure of CBDCs will make it easier for new non-bank entities to enter the payments space and accelerate the transition towards digital payments. These factors will increase competitive pressures on commercial banks.

In a digital economy, data provide a competitive edge. We see a tug-of-war playing out between consumers who are privacy-conscious and want to keep their transactions anonymous and fintech companies that will innovate and incentivize consumers to get onto their platforms in order to acquire transaction data. If the fintechs’ efforts succeed, network effects could proliferate, allowing fintechs to take market share from banks.

CBDCs also have the potential to disrupt the international payments system. If a country’s CBDC gains acceptance for international transactions, significant advantages could accrue to the issuer country in financing costs and control over financial transactions, similar to the US dollar’s privileged role today. Some central banks like the ECB and the PBOC see the move towards digital currency as an opportunity to raise the international status of their currencies and increase their use in cross-border payments. On the other hand, emerging markets want to limit the use of foreign digital currencies in their economies (e-dollarization).

Innovations are typically viewed with caution and their disruptive potential is usually underestimated. While central banks’ CBDC initiatives are not intended to disrupt the banking system, they will likely have unintended disruptive consequences. The pace of disruption will hinge on how quickly network effects take hold in a CBDC system. The more widely digital currencies are accepted, the more opportunity for innovation and the greater the scope for disruption to the financial system.

#AceNewsDesk report …………Published: Apr.21: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#currency, #facebook, #morgan-stanley, #youtube


#AceBreakingNews – RUSSIA:Dec.10 –  In a couple of years Russia will be able to substitute 100 percent of “unnecessary” food imports, Russia’s Prime Minister Dmitry Medvedev said during his live TV interview Wednesday.


“We are able to fully replace needless imports in the mid-term,” said Medvedev.

Medvedev said the shift won’t be immediate, but the good thing is that shelves in the stores throughout Russia have already become full of domestically made produce.

READ MORE: Russia bans agricultural products from EU, USA, Australia, Norway, Canada

“We are serious people and we’ve never said that we’d get all Russian agricultural items the next day after introducing response measures [to Western sanctions – Ed.],” he said adding that the goal of filling shelves with domestic production is gradually being achieved.

His comment comes at a time when the Russian economy is struggling to withstand oil prices that have plunged more than 40 percent from a peak of $115 per barrel in the summer.

The Russian currency has gone into free fall, touching new lows every day. The ruble was trading at 54.3 against the US dollar and at 67.3 against the euro at 1200 MSK Wednesday on the Moscow Exchange.



#currency, #dollar, #economy, #euro, #food


#AceNewsServices – Nov.22 – This was a post l wrote back in 2012 when the writing was on the wall for the eventual fall of the Euro. Though as events are unfolding across the currency market, my prediction is about to come true, very soon.  

In July 2012 we were told that the fourth Euro Zone country may need a possible sovereign bailout of 100 billion Euros. The fact this amount as l reported previously has risen from 23 to 43 to 46 and now 100 billion by miscalculation of debt!

It now appears that it is imminent in any case.

This extract picked up at the time goes some way to explain the need but not the reason WHY?

Spain’s troubles are mounting, with indebted regions asking the central government for help and borrowing costs at record highs. There are fears that the euro zone’s fourth-largest economy may need a full sovereign bailout even though the country has just received a €100 billion ($121 billion) rescue package to shore up its ailing banks.

European Union is responding with plans for the temporary bailout fund, the European Financial Stability Facility(EFSF), to buy Spanish bonds on the secondary market in order to push down interest rates on those bonds, German newspaperSüddeutsche Zeitung is reporting on Thursday.

“If Madrid submits a request we are prepared to act,” an unnamed EU diplomat told the paper. Spanish Finance Minister Luis de Guindos has urged EU colleagues to authorize the EFSF to buy Spanish bonds. He met German Finance Minister Wolfgang Schäuble on Tuesday and French Finance Minister Pierre Moscovici on Wednesday.

The bank bailout for Spain is a prerequisite for the EFSF to buy bonds because EFSF rules state that this kind of financial aid is only permitted if the affected country has an unresolved banking problem, Süddeutsche said. “We hope we can calm the markets now,” it quoted the EU diplomat said as saying.

So how is it these countries have got into this position, as night follows day  Greece began the need for X billions but with no GDP to repay what they owe! So then along comes the fourth largest economy and this time they want a lot more again what can they repay it with! At present they have massive debts and much of this debt is never ever going to be repaid!


It is invested in a dwindling asset such as property, which 20 years ago had the same problem, it crashed and many people lost their homes! Another 12 years further on and we are back there this time not 100′s of thousands are owed but billions and in some cases overall debt in the world amounts to http://www.usdebtclock.org/world-debt-clock.html well take a look at how it rises second by second and it will amaze you!

So we got here by wanting more to buy more and then our GDP would rise more but of course so would our debt’s When you lend without any form of financial management you are being what can only be called as cavalier or reckless with your lending policies!

By this method we lend billions to a country to bail out their debts for 3 months and in some cases 1 month, just to pay their bills

Is this not reckless lending and not considering in 1 month what this country will do, let alone having increased their debt!

‘The Best Solution’ – EU leaders can come up with is this: 

Berlin has made no official statement on Spain’s request but sources close to the German government said it was not opposed to bond purchases in principle. Such a move would have to be signed off by a German parliamentary panel consisting of nine lawmakers made up of members of all the five parties represented in parliament. Chancellor Angela Merkel‘s center-right coalition has five parliamentarians on the panel.

The French government supports bond purchases. French President Francois Hollande said during that time and called for rapid and decisive help. 

Words like rapid and decisive help this will be the same rapid and decisive help for Greece that has dragged out month after month after month, anyone remember Greece’s first request it was May 11th 2010 as reported by the WSJ and it stated in this post: 

Wall Street Journal – May 11 2010  said: 

Greece to Request First Aid Tranche:

ATHENS—Greece on Tuesday will formally submit its request for the first tranche of aid from the European Union and on Wednesday will receive the first installment of financial support from the International Monetary Fund.

“We will be submitting the formal request for the transfer of €14.5 billion [$18.54 billion] from the EU.

The figure asked for was 14.5 billion Euros and the upshot was of a:     

Downgrade of Junk Bond Status: 

The downgrading of Greek government debt to junk bond status in April 2010 created alarm in financial markets. On 2 May 2010, the eurozone countries and the IMF agreed on a €110 billion bailout loan for Greece, conditional on the implementation of austerity measures. In October 2011, Eurozone leaders agreed to offer a second €130 billion bailout loan for Greece, conditional not only the implementation of another austerity package, but also that all private creditors should agree to a restructure of the Greek debt, reducing the debt burden from a forecast 198% of GDP in 2012 to a more sustainable level at 120.5% of GDP by 2020.

The amount was not 14.5 billion but 100 billion in May 2010 and a further amount of 130 billion in October 2011 and the provisions agreed would be reduce debt burden from 198% of GDP in 2012 to a more sustainable level of 120.5% of GDP by 2020.

Editor’s Conclusion: 

My simple overriding question is HOW? Can any country reduce their debt burden when they borrow such vast amounts! Would it not have been better to stage manage a small tranche of funds are requested and monitored their economy closely for where the problems were before this commitment to lending such a vast amount!

I can see Spain going the way of Greece and eventually the Euro going the way of the dodo!

Nobody can sustain 120.5% debt burden and repayment is not achievable in any case, given the present global financial situation!





#AceNewsServices – BRUSSELS – Nov.22 – I reported on this a while ago about the German’s stockpiling gold for the return to funding the Deutschmark. 

Now details have emerged indicating that both the Dutch and German governments were preparing emergency plans for a return to their national currencies at the height of the euro crisis according to a report on the EUobserver. 

In early 2012, a few months after the then Greek prime minister Georgios Papandreou and his Italian counterpart Silvio Berlusconi had resigned, the Dutch finance ministry prepared for a scenario in which the Netherlands could return to its former currency.

Dutch TV documentary programme Argos Medialogica reported on Tuesday (18 November), based on anonymous sources, that the ministry had an emergency plan called Florijn, a reference the original name of the guilder, the Netherlands’ pre-euro coin.

Current finance minister Jeroen Dijsselbloem also confirmed the existence of the plan on Tuesday in his weekly interview with RTLZ.

“It is true that [the ministry of] finance and the then government had also prepared themselves for the worst scenario”, said Dijsselbloem.

“Government leaders, including the Dutch government, have always said: we want to keep that eurozone together. But [the Dutch government] also looked at: what if that fails.

And it prepared for that.”

That preparation included “practical aspects”, but the government did not print new national currency banknotes.

The plans occurred around the time when politicians openly referred to the possibility of a Greek exit from the euro.


#currency, #euro, #finance


#AceNewsServices – MOSCOW, October 15. – Today it was reported that the Russian currency’s exchange rate has plummeted amid a sharp fall in world oil prices while measures planned by Russia’s financial and monetary authorities can only mitigate the ruble’s fall, according to experts polled by TASS. 

Oil price plunge to provoke revaluation of oil companies’ worth — experts

Oil price plunge to provoke revaluation of oil companies’ worth — experts

Russia’s Finance Ministry then announced plans to hold foreign currency deposit auctions for Russian banks while the Central Bank plans foreign exchange repo transactions to prop up the national currency.

But these measures are hardly likely to prevent the ruble’s further decline, if world oil prices continue to go down, experts said.

The downward trend on global oil markets have not yet affected the Russian stock market but revaluation of oil companies’ worth is near at hand, analysts said, adding this would happen after investment banks reviewed their long-term oil price forecasts.

Oil hits the ruble

The US currency rose to above 41 rubles to the US dollar on the Moscow Exchange on Wednesday amid rapidly declining oil prices.

The ruble has been falling for seven consecutive trading sessions and the national currency has shed 2.6 rubles against the US dollar in the past four weeks.


#currency, #moscow, #rouble, #ruble, #us-dollar


#AceNewsServices – MOSCOW – October 12. /TASS/. Prime Minister of the self-proclaimed Donetsk People’s Republic (DPR) Alexander Zakharchenko does not exclude possible economic cooperation with the Ukrainian authorities, the press service of the DPR Supreme Council /parliament/ said on Sunday.

“We are always glad to be friends with all who does not come here with weapons in the hands.

If they make rational offers in the economy, in trade or in the area of other partner relations.

We are ready to speak with all, even with the government, which is currently ruling Ukraine,” he said.

He said that the key task for the Supreme Council and himself as the prime minister was to create conditions for expanding relations with Russia “so that we could secure our economy from impacts from outside, including from Ukraine.”

“The economy will be completely, if possible, oriented towards the Russian market. We consider Russia our strategic partner,” he stressed.

Earlier, Zakharchenko said that the DPR authorities were looking at creating a multi-currency zone to use both the rouble (Russia’s currency unit) and the hryvnia (Ukraine’s currency unit).

The DPR Council of Minister also said it had passed a decision to set up a national bank in the republic.


#russia, #currency, #donetsk-peoples-republic-dpr, #dpr-supreme-council, #hryvnia, #rouble, #russian, #supreme-council, #ukraine

SCOTLAND: ‘ Britain’s Banks Quietly Move Millions of Bank-Notes North of Border ‘

#AceNewsServices – SCOTLAND – September 16 – Britain’s banks have been quietly moving millions of banknotes north of the border to cope with any surge in demand by Scots to withdraw cash in the event of a Yes vote in Thursday’s independence referendum, it has emerged.

'Moving the Money Finally Britain Realises its a YES  '

‘Moving the Money Finally Britain Realises its a YES ‘

Sources told The Independent the moves have been taking place over the past week or so in order to make sure ATMs do not run out on Friday in the event of a panic reaction to a “yes” vote. There have been some suggestions that people will want to move their money to English banks in the event of an independence vote.

Bankers stressed there has been no sign yet of any increase in the amount of withdrawals from deposit accounts or ATMs, stressing that there was no need because the Bank of England has pledged to stand behind all accounts for at least 18 months in the event of a “yes” vote.

However, concerns about how safe is their cash still linger. It was this that led to RBS and Lloyds last week to reassure customers that they would be moving their registration addresses south of the border.

As a result, part of the banks’ contingency plans has been to ship more cash to secure locations in Scotland in readiness to keep up with the potential increase in demand.

Sources at major banks said they had been issuing clear instructions to their Scottish branches to reassure customers there was no reason to panic.

The revelation comes as David Cameron made an impassioned plea to the people of Scotland to reject independence, telling them that the UK was not just “any old country” and that millions of people would be “utterly heartbroken” if it was broken up. 


#britain, #currency, #money, #scotland, #voters

RUSSIA/CHINA: ' Central Bank of Russia and Peoples Bank of China Agree Draft Currency Trade Swap Agreement Releasing US Dollar Dependency In Trade '

#AceWorldNews – RUSSIA/CHINA – August 10 – The Russian and Chinese central banks have agreed on a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments.

​As China’s exporters were hit by the global recession in 2008, the People’s Bank of China began stepping up her intervention programme to prevent appreciation of the Yuan. By April 2011 Chinese state controlled banks had accumulated over one trillion in US treasuries and over 1.5 trillion in other dollar assets. China has indicated she plans to further rebalance her economy towards domestic consumption, and intends to stop buying dollar assets by 2016. (Photo credit: Wikipedia)

The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approval procedures, ITAR-TASS quotes the Russian regulator’s office on Thursday.

The Russian Central Bank is not giving precise details on the size of the currency swaps, nor when it will be launched. It says this will depend on demand.

According to the bank, the agreement will serve as an additional instrument for ensuring international financial stability.

Also, it will offer the possibility to obtain liquidity in critical situations.

​“The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China,” the Russian regulator said.

Currently, over 75 percent of payments in Russia-China trade settlements are made in US dollars, according to Rossiyskaya Gazeta newspaper.

The Beginning and the End of the Next Global Currency

A while ago l predicted the currency changes in the market to a number of my colleagues who then could not see the“Sign of the Times” but l was looking at a number of indicators. These were that the Chinese believe in keeping to customs and are steeped very much in the past ,so much so that they would keep their“Sovereign Currency” the Yuan in tact.

Their decision on many occasions has been to not devalue, as so many other countries have advised.

They have stuck to their guns and the time is coming when this “Third World Currency” will become one that everyone will want to trade!

So to today’ s article in the AFP it deals with changes and how the deals with both London and Singapore will challenge the once “Almighty Dollar“ and how with new free-trade zones opening up ,it could well one day become the “People’s Currency” then where will this leave these oil rich nations.

The demise of the “Petro-Dollar ” could we finally see the end of OPEC and their stranglehold on the per barrel price.

Search Results: #AceFinanceNews


#russia, #china, #chinese, #currency, #devalue, #devalued, #trade

“In God We Trust – Removal From Currency by Bureau of Engraving and Printing”

Seal of the Bureau of Engraving and Printing. ...

Seal of the Bureau of Engraving and Printing. The design is the same as the Treasury seal with a Bureau of Engraving and Printing inscription. (Photo credit: Wikipedia)

#AceNewsServices says just found this on a petition site, whilst using Disqus.

In God We TrustRemoval

  • Sponsored By:
  • More Info at:

We, the undersigned, petition the Bureau of Engraving and Printing of the of the United States Treasury to remove the statement consisting of, “In God We Trust” from all future currency created in the United States of America.

It is our firm belief that it is unconstitutional to force ones thoughts of God, or a god upon another American. We have the right to religious freedom, as well as the right of freedom from religion. For those who are not believers in God, or a god should not have to feel as though it is a wrong belief due to the symbolism on our money. Nor should they be made to feel out-of-place due to the forcing of the idea of a god onto them. The American society has more faiths then Christianity and other deity based beliefs, so the American citizens shouldnt be forced or stereotyped as being one. Many people come to this country so they can be free to express themselves religiously, and to place the comment on the back of the currency we feel is going against our right, and to remain fair to all other beliefs it shouldnt have a place on our money. Unless you want to make a different currency for each belief it would save many problems and

Bureau of Engraving and Printing (golden Seal)...

Bureau of Engraving and Printing (golden Seal), an agency within the United States Department of the Treasury (Photo credit: Wikipedia)

if the line were simply removed from the U.S. currency.

Petition   3487 signatures 


Enhanced by Zemanta

#acenewsservices, #bureau-of-engraving, #bureau-of-engraving-printing, #christianity, #currency, #disqus, #in-god-we-trust, #treasury, #u-s-treasury, #united-states, #united-states-department-of-the-treasury, #wikipedia

” Collapse of the US Dollar as China Ditches Them as Their Reserve Currency”

Series of 1917 $1 United States bill

Series of 1917 $1 United States bill (Photo credit: Wikipedia)

#AceFinanceNews says the US dollar is now in the process of collapsing. It will eventually lose the reserve status of the world. China has taken the first step to remove the US dollar as the reserve currency by broadcasting to the world that it does not see the benefit of holding the dollar any more. China decided to take it one step further by saying that they may price crude in the yuan. The central bankers/US Government are pushing the false flag event and are preparing for what is about to hit every American. This event will be much worse than 911, it will be so horrific that people will be crying in the streets.

Read more at http://investmentwatchblog.com/whats-wrong-with-us-dollar-the-fed-is-still-printing-10s-of-billion-each-month-foreign-governments-are-dumping-t-bills-like-crazy-not-to-mention-the-fact-that-usd-is-in-the-process-of-losing-st/#8VmWUu4ojt8xBR3U.99

Ace Related News:

Extract: A while ago l predicted the currency changes in the market to a number of my colleagues who then could not see the “Sign of the Times” but l was looking at a number of indicators. These were that the Chinese believe in keeping to customs and are steeped very much in the past ,so much so that they would keep their “Sovereign Currency” the Yuan in tact. Their decision on may occasions has been to not devalue, as so many other countries have advised. They have stuck to their guns and the time is coming when this “Third World Currency” will become one that everyone will want to trade!

Read More:  http://acefinance.me/2013/11/06/the-beginning-and-the-end-of-the-next-global-currency/

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