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blueskyline

May be of interest...The Fed is extending its currency exchange program to more central banks around the world PUBLISHED THU, MAR 19 2020 9:00.

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https://www.cnbc.com/amp/2020/03/19/the-fed-is-extending-its-currency-exchange-program-to-more-central-banks-around-the-world.html.....

The Fed is extending its currency exchange program to more central banks around the world

PUBLISHED THU, MAR 19 2020 9:00.
PUBLISHED THU, MAR 19 2020 9:00 AM EDT
UPDATED AN HOUR AGO
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The Federal Reserve said Thursday it will extend its currency exchange program to other central banks around the world as the demand for dollars intensifies.In addition to its existing arrangements with its larger peers, the Fed is now extending the lines to Australia, Brazil, Denmark, Korea, Mexico, Norway, New Zealand, Singapore and Sweden. The lines are known as dollar swaps and will be in place for six months. 

The Fed will provide $60 billion to all but Denmark, Norway and New Zealand, which will get $30 billion.

Reserve Bank of Australia, the Banco Central do Brasil, the Bank of Korea, the Banco de Mexico, the Monetary Authority of Singapore, and the Sveriges Riksbank and $30 billion each for the Danmarks Nationalbank, the Norges Bank, and the Reserve Bank of New Zealand.

The U.S. dollar index, which measures the currency against a basket of its global competitors, has risen to a record high amid widespread selling of assets. 

"These facilities, like those already established between the Federal Reserve and other central banks, are designed to help lessen strains in global U.S. dollar funding markets, thereby mitigating the effects of these strains on the supply of credit to households and businesses, both domestically and abroad," the Fed said in a news release posted on its site.

The Fed has standing arrangements with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.

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All this cash they're "swapping" out and over a Trillion dollars for Americans and small businesses :huh:

 

Either the absolute most ignorant plan ever devised or someone's got one heck of an ace up there sleeve. 

:pirateship::bagofmoney:

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3 minutes ago, Donziman said:

Too bad Iraq wasn't on that list of countries. Now that would be a find. Big thanks

to Blueskyline....

 

 

Most likely IQD is not on the list is that it is Not presently Internationally Tradable....Iraq need to get that handled ASAP.

 

Karsten

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2 hours ago, blueskyline said:

The Fed is extending its currency exchange program to more central banks around the world

 

LINK

Fed Aims to Keep Dollars Flowing Globally in Nine New Agreements


The Federal Reserve opened currency swap lines, which help foreign central banks to keep dollar funding flowing, with nine nations.

 

image.jpeg.9f55a16a4420bc9be549463fd1c74743.jpeg

 

19th March, 2020

 

The Federal Reserve said it would extend currency swap lines to nine additional countries, an attempt to keep dollars flowing to banks around the world as the coronavirus disrupts every aspect of business, creating a cash crunch in many nations.

The Fed opened currency swaps with central banks in Singapore, South Korea, Brazil, Sweden, Australia, New Zealand, Mexico, Norway and Denmark, the Fed said in a Thursday morning release.

The Fed has a history of using so-called “swap lines” to help foreign central banks deliver U.S. dollar funding to financial institutions in their regions amid market stress. Such agreements were used extensively during the financial crisis. Indeed, the newly extended swap lines are with the same countries the Fed struck such agreements with during the 2008 financial crisis.

The Fed has standing swap lines with partners including the Bank of Canada, the Bank of England, the European Central Bank, the Bank of Japan, and the Swiss National Bank, and it sweetened the terms on those programs on March 15 to encourage their use.

Because of the importance of the U.S. dollar in the global economy, strains in the markets for borrowing and lending dollars overseas can disrupt financial conditions here in the United States,” Jerome H. Powell, the Fed chair, said in a news conference after that decision.

Swaps work through two transactions: A foreign central bank first sells its currency to the Fed in exchange for dollars. The foreign central bank is then obligated to buy back its currency on a specified date at the same exchange rate, with interest.

The dollar is in many ways the world’s currency. Banks overseas have some $13 trillion in dollar-denominated assets. Because banks abroad operate so heavily in dollars, they may need access to dollar-based credit to weather a shock.

“These facilities, like those already established between the Federal Reserve and other central banks, are designed to help lessen strains in global U.S. dollar funding markets,” the Fed’s Thursday release said of its new agreements.

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Brings me back to many articles where the dollar will be in a basket of currencies and will have the Lions share of the basket!!  This will go very well when the gcc gets their currency going which includes the dinar and joins this basket. ;)

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11 hours ago, ladyGrace'sDaddy said:

or someone's got one heck of an ace up there sleeve. 

 

11 hours ago, md11fr8dawg said:

Let's hope it is the Ace!!

 

Before We All Have To Kiss Our Aces Goodbye ! :o 

 

:D  :D  :D 

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On 3/20/2020 at 3:05 PM, DinarThug said:

 

 

Before We All Have To Kiss Our Aces Goodbye ! :o 

 

:D  :D  :D 

Yep interesting! Very interesting! It’s all about timing 

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On 3/20/2020 at 2:03 AM, ladyGrace'sDaddy said:

All this cash they're "swapping" out and over a Trillion dollars for Americans and small businesses :huh:

 

Either the absolute most ignorant plan ever devised or someone's got one heck of an ace up there sleeve. 

:pirateship::bagofmoney:

Hoping it’s an Ace up the Sleeve 🙏🏻

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Scary given that there is more money in funded retirement accounts than the national debt.

Wouldn’t take much to federalize those retirement accounts and clear the debt.

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I know it’s because of the swings in the usd over the past few weeks, but, it’s nice to see there is actual swings in the IQD. 

526FC18F-D356-4134-8B6F-37F0099D33D0.png

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Really, you gave me a red tick down for that post. Wow, you must be the one who sold every single dinar you had and just want everyone else to stoop to your level 🤣 Well so sorry for you my friend, but I’m assuming you are really hurting inside and hope what ever is bothering you that it heals. I send you best wishes 🙏

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9 hours ago, NoviceInvestor said:

Hoping it’s an Ace up the Sleeve 🙏🏻


Weegie Says Bruce Has A Backup Plan For A Sleeve Up The Ace ! :o 

 

GlumAptLamprey-size_restricted.gif

 

:D  :D  :D 
 

Edited by DinarThug
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