"QFS CONVERSATIONS" WITH GOLDILOCKS, 31 MARCH

 GOLDILOCKS

Japan has now signaled that officials are on standby to intervene in the market to address the yen.

Gold is at record highs in Japan.

The Bank of Japan has distorted its capital markets, and the world will feel the effects.

Read: https://x.com/goldtelegraph_/status/1773887121268396146?s=46

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The Bank of Japan is in a very difficult position. They hold a lot of US dollars in reserve that could be utilized to prop up their own currency if they were to sell it off. The problem is that a move like this would disturb the balance of trade on a worldwide level. Shifts in the prices of other countries' currency values may start a domino effect.

A stronger Yen would create a lower US Dollar if too many sales of the US dollar were to be put into the market so quickly. Normally, lowering interest rates creates more purchasing power for a country, this is currently not working for their economy. Because of this reason, a currency intervention is being contemplated.

Normal banking protocols are currently not able to pull them out of their situation at this time.  They are Basel 3 compliant, and a move towards more reliance on gold as a Currency Reserve may be an option they cannot rule out at this point.

A clear backing and more gold support while selling off the dollar in small increments may be a choice that has validity at this time. Either way, the country needs to increase the value of their currency soon, and choices are becoming very limited quickly.  CNBC  Japan Times  Financial Services Agency

© Goldilocks

"RV UPDATE" BY PIMPY, 31 MARCH

 Pimpy

  We're dealing with two different things... We have what's known as the nominal value, which is the numbers on the bank notes and then we have an exchange rate value.  That's two different things.

This is [from] the World Bank data bank - Real Effective Exchange Rate is the nominal effective exchange rate in measure of the value of a currency against a weighted average of several foreign currencies divided by a price denominator or index of costs...   Iraq already reports a real effective exchange rate.  They report it all the time...It's reported to the IMF regularly...

The IMF, WTO, World Bank and whoever don't have a say whether or not Iraq LOPS off their zeros.  That is decided by the Central Bank of Iraq as well as the government of Iraq.   You're confusing the 'lopping of the zeros', 'the deletion of the zeros', 'the reducing of the zeros', 'the removing of the zeros', as somehow a loss in value.  It is a neutral event.  It doesn't affect outside investment into the Iraqi dinar.  I told you when you remove the zeros all you're doing is lowing the nominal value of the currency.  Has nothing to do Iraq's exchange rate versus other wold currencies - noting whatsoever.  

MAJOR Issue Holding Up RV What Iraq is Doing About It BY SANDY INGRAM

Within a week…more than one billion dollars in sales from the Central Bank of Iraq, 31 MARCH

Within a week…more than one billion dollars in sales from the Central Bank of Iraq

Shafaq News/ The Central Bank of Iraq’s total sales of hard currency during the past week amounted to more than one billion US dollars.

Shafaq News Agency correspondent stated that the Central Bank sold during the past week and for the four days in which the auction opened one billion, 259  million, 432 thousand, and 212 dollars, at a daily rate of 251 million, 886 million, and 442 dollars, higher than what it recorded last week, which It reached 783 million, 749 thousand, and 822 dollars.

The highest dollar sales were on Wednesday, when sales amounted to 257 million, 591 thousand, and 195 dollars, while the lowest sales were on Sunday, when sales amounted to 245 million, 545 thousand, and 947 dollars.

Our correspondent indicated that foreign remittance sales during the past week amounted to 1 billion, 186 million, 593 thousand, and 292 dollars, an increase of 94% compared to cash sales, which amounted to 73 million, 838 thousand, and 920 dollars.

Our correspondent explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,310 dinars per dollar.

shafaq.com

"RV UPDATE" BY BRUCE, 31 MARCH

 Bruce

  [via WiserNow]  Iraq has a new rate on their CBI rate, and it's very good and they should be bringing out the international rate on the Iraqi Dinar on Sunday - Easter Sunday...So we're looking to get notified Monday, set appointments...and start on Tuesday with our exchanges ...I think we're all set to start.

First of all, all sanctions with one of our US banks were dropped by Iraq.  We dropped sanctions...On Iraq I think about three or four days ago...Everything's clear from that point of view.

Salah speak BY NADER FROM MID EAST

Sudanese Advisor: The 2024 budget tables focus on investment spending, 31 MARCH

Sudanese Advisor: The 2024 budget tables focus on investment spending

Today, on Saturday, Mazhar Muhammad Salih, the prime minister’s finance advisor, reaffirmed that the 2024 budget tables prioritize investment expenditure for new projects.

In an interview, Saleh stated that “the Federal General Budget Law No. 13 of 2023 (the tripartite) stipulates the submission of schedules of public expenditures and revenues adapted according to the new fiscal year and its objective circumstances for the year 2024 for legal approval. The existing procedures for completing the public financial tables for the fiscal year 2024 in order to submit them to the legislative authority for approval and implementation immediately are only a response to that text. ”

He stated that “the most important thing in these tables is determining the levels of investment spending on new projects, which is fundamental and fundamental spending in the movement of the national economy, as it is directly linked to the development and growth of the economy by providing objective conditions for the movement of government demand for supplies and inputs for investment in projects.” authorized for new.

He stated that “the demand for productive factors associated with government investment activity is essential in achieving the targeted level of growth in the annual gross domestic product and sustaining its momentum, in addition to its connection to the labor market and business and moving them in accordance with a climate required by the sustainability of the country’s economic development itself.”