Cyprus was virtually the last stronghold of
the Knights Templars. Do you think there's a connection between that fact and
what's happening to its people?
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=272128
The IMF's handling of the Cyprus banking debacle has
turned into a wake-up call regarding Gold
Posted
By: NaturalWisdom
Date: Tuesday, 19-Mar-2013 01:29:29
Jim Sinclair - One Of The Most Important
Events In History & Gold
King World News
Mar. 16, 2013
Legendary trader Jim Sinclair told King
World News we have just witnessed one of the most important events in
history and it will have a major impact on the gold market.
http://bit.ly/XUOgip
Bloomberg:
Asia Stocks Rebound After Cyprus Sparks $500 Billion Rout
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=272120
Another thorn in side of one-time US (global) $
domination. Venezuela to Announce Complementary Foreign Exchange System!
Posted
By: Bob [Send
E-Mail]
Date: Tuesday, 19-Mar-2013 02:01:36
By Nathan Crooks & Jose Orozco - Mar
19, 2013
Venezuela will today publish
specifications for a “complementary” foreign exchange system in the
official gazette, acting President Nicolas Maduro said yesterday on state
television.
The system will be administered by the
Finance Ministry’s foreign currency board, led by Finance Minister Jorge
Giordani, and will be used to close the gap between the official and
unregulated “parallel” exchange rates, Maduro said.
“We have the will to defeat the parallel
dollar, but we know that there are economic rules and methods,” Maduro
said.
“This complementary system will take that
into account to bring down that parallel dollar, to defeat it.”
Before his death from cancer on March 5,
former President Hugo Chavez in February approved a 32 percent
devaluation of the bolivar to 6.3 bolivars per dollar.
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He also shut down a central
bank-administered currency market, known as Sitme, that weakened the
bolivar on the black market to about 23.5 bolivars per dollar.
Chavez, who established
currency controls in 2003, in 2010 shut down an unregulated market operated
by bond brokerages that supplied about $100 million a day to importers.
That was reduced to $45
million a day after Chavez shuttered the market and replaced it with the
Sitme, which was closed last month.
“It will be used for special
cases,” Maduro said, adding that public and private banks would have access
to the system that will supplement the government’s currency exchange known
as Cadivi and begin operations by March 25.
Price Controls
The South American country
will also announce new price controls, Maduro said, without providing
additional details about the new currency system.
The Central Bank will hold a
news conference at 11:00 a.m. local time today in Caracas, central bank
President Nelson Merentes said yesterday on state television.
“Dollars must be directed
towards productive sectors of the economy,” Merentes said.
Venezuelan importers turn to
the black market when they can’t get access to foreign currency at the
official rate.
The black market bolivar has
weakened 26 percent to 23.5 bolivars per dollar this year, according to
'Dolar Today', a website that tracks the exchange rate on the Venezuelan
border with Colombia.
“There is a corrupt right
wing and a parasitic bourgeoisie betting on a destabilization of the
economy; they’re behind the parallel dollar,” Maduro said.
The country has enough
dollars to meet its exchange needs, he said.
More at:
http://www.bloomberg.com/news/2013-03-19/venezuela-to-announce-complementary-foreign-exchange-system.html
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