More News, Rumors and Opinions Thursday PM 3-21-2024
TNT:
Tishwash: The President of Vietnam resigns after a year in office
Vietnam's President, Vo Van Thiong, has resigned after serving nearly a year in office, according to a statement issued Wednesday by the Communist Party.
The Philippine president's resignation came in the midst of an intense anti-corruption campaign that affected the highest levels of the party.
The Vietnam News Agency said Thiong was guilty of "violations and shortcomings" and the party's Central Committee accepted his resignation.
The news agency added that Thiong violated unspecified “regulations” and “failed to set an example as head of state.”
She revealed that "Comrade Vo Van Thiong's violations and negligence had a bad impact on public opinion, affecting the reputation of the party and the state and his reputation."
She continued, "Aware of his responsibility towards the party, the state, and the people, he submitted his resignation from his positions."
The 53-year-old official's resignation comes as Vietnam is witnessing major political unrest, which also forced his predecessor to step down in an anti-corruption campaign that saw the dismissal of many ministers and the prosecution of major businessmen on charges of "fraud."
Thiong became president on March 2 last year after President Nguyen Xuan Phuc resigned, in an unusual surprise move in Vietnam, where political changes have long been carefully coordinated, with an emphasis on stability.
Before Fuc, only one other Communist Party leader had stepped down, and that was for health reasons
The position of president in Vietnam is largely ceremonial. The president ranks third in the country's political hierarchy.
While the president leads the country, he views the party's Secretary-General, Nguyen Phu Trong, as the real power holder link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend...when we do the 1.32 and $0.76... FRANK: WHEN we do it? You don't want to deny it? FIREFLY: ...we have to do the smaller notes and then they have to have a little bit of time to adjust...before any reinstatement. This should be maybe within two weeks. Then everyone can see this roll in reinstatement. FRANK: Wow, wow, wow, wow. This is amazing...
Walkingstick If the example of $4.25 is the float then it will be maintained...The CBI will not allow the cap rate to decrease within a certain percentage. This percentage is normally within a plus or minus 5%...It will stay within that general vicinity. That will bring the security and demand of the Iraqi dinar internationally even stronger.
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KTFA:
Clare: Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy
3/21/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate.
Saleh told {Al-Furat News} agency, “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate, a tangible success in the cohesion of the country’s economic policy in its three aspects: monetary, financial, and commercial, in providing a coherent climate of stability in the general level of prices.” And containing seasonal price fluctuations for high-demand items, specifically providing basic food commodities that have low price elasticities of demand because they are necessary commodities associated with consumption and daily living.”
He noted "the importance and speed of customs procedures, which were represented by (reducing customs tariffs and diversifying imports without quantitative limits for necessary goods) as part of the performance of the financial policy in supporting price stability and ensuring the supply of food and essential goods and production supplies at the official exchange rate and in accordance with the requirements of the national economy."
The Parliamentary Finance Committee had expected a continued decline in dollar prices as the results of the measures taken by the Central Bank of Iraq to limit the rise in the foreign currency began to appear.
The dollar exchange rate a few days ago was about 1,500 or 1,490 thousand dinars to the dollar.
From.. Raghad Dahham LINK
NO ESCAPE: Japan Does The Unthinkable, Currency STILL Collapses, Exports Face Major Risks
Sean Foo: 3-20-2024
The Bank of Japan just made a historic pivot ending 17 years of negative interest rates. However, instead of the Yen strengthening, it collapsed even further, feeding into higher inflation. Japan's economy is still weak and its debt situation is going to make it near impossible to hike much higher. Here's why Japan is caught in economic stagnation.
Timestamps & Chapters:
0:00 Japan Ends Negative Rates
3:09 Will This Crash The Global Economy?
6:05 Japan Is Trapped
9:07 The Big Export Collapse Risk
12:03 More Losers Than Winners