Anonymous ID: c77ee1 June 9, 2021, 6:25 a.m. No.61439   🗄️.is đź”—kun

China Launches Price Controls After Red Hot Inflation, Highest PPI Since Lehman Collapse

 

Update 10:00pm ET: moments after reporting a red hot PPI which was the highest since Lehman, China effectively launched price controls, with China’s economic planning agency vowing to increase supply of key consumer goods to stabilize prices, according to a statement on NDRC website on a national video meeting Tuesday.

*CHINA VOWS TO CONTROL CORN, WHEAT, PORK PRICES AFTER PPI SURGE

*CHINA TO KEEP PRICES OF GOODS LINKED TO LIVELIHOOD STABLE: NDRC

 

It was recently approved by the National Development and Reform Commission, the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, the Ministry of Commerce, the State Administration of Market Supervision, Food and Reserves Bureau and other 6 departments jointly issued and implemented. In order to do a good job of implementation, on June 8, the National Development and Reform Commission held a national video conference...

 

The meeting pointed out that the Party Central Committee and the State Council attach great importance to the price control of important livelihood commodities. In recent years, the price control mechanism for important livelihood commodities has been continuously improved, and remarkable results have been achieved in the work of ensuring supply and stabilizing prices. However, the production, supply, storage and sales of important livelihood commodities have a long chain, many links, and a wide range of coverage. The characteristics of "small production and large market" are prominent. In the face of natural disasters, market risks, and emergencies, prices are prone to rise and fall. It is necessary to speed up the improvement of the price control mechanism of important livelihood commodities, continuously improve the ability to maintain supply and stabilize prices, effectively resolve the impact of livelihood commodity supply and price fluctuations on people’s lives, better meet the people’s growing needs for a better life, and effectively enhance the people’s sense of gain, sense of happiness and security.

 

Production, distribution, consumption and other links, give full play to the role of government, market, society, etc., use economic, legal, administrative and other means to improve the ability and level of price control, and effectively guarantee the effective supply of important livelihood commodities and the overall stability of prices.

 

The meeting also analyzed the current and future price situation, made comprehensive arrangements for this year’s work to ensure the supply and price stabilization of important livelihood commodities, combined with the improvement of the price control mechanism of important livelihood commodities, and focused on key points such as corn, wheat, edible oil, pork, and vegetables. Promote the effective connection of production, supply, storage, and sales. At the same time, we will actively do a good job in the regulation of the bulk commodity market, strengthen market supervision, and make every effort to ensure sufficient supply of important people’s livelihood commodities and basically stable prices.

 

And now that China is officially setting prices, expect black markets for everything which the government is micromanaging to emerge and lead shortages that will make the current batch of supply-chain bottlenecks look like a walk in the park.

https://www.zerohedge.com/economics/traders-alert-china-inflation-shock

Anonymous ID: c77ee1 June 9, 2021, 6:54 a.m. No.61440   🗄️.is đź”—kun   >>1450 >>1462

In a world first, El Salvador makes bitcoin legal tender

 

El Salvador has become the first country in the world to adopt bitcoin as legal tender after Congress approved President Nayib Bukele’s proposal to embrace the cryptocurrency.

 

With 62 out of 84 possible votes, lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact on El Salvador’s program with the International Monetary Fund. Bukele has touted the use of bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the U.S. dollar will also continue as legal tender.

 

“It will bring financial inclusion, investment, tourism, innovation and economic development for our country,” Bukele said in a tweet shortly before the vote in Congress, which is controlled by his party and allies. The use of bitcoin will be optional for individuals and would not bring risks to users, Bukele said. The government will guarantee convertibility to dollars at the time of transaction through a trust created at the country’s development bank BANDESAL.

 

Its use as legal tender will go into law in 90 days, with the bitcoin-dollar exchange rate set by the market. Under the law, bitcoin must be accepted by firms when offered as payment for goods and services. Tax contributions can also be paid in bitcoin.

 

Analysts have said the move could complicate talks with the IMF, where El Salvador seeks a more than $1 billion program. Bitcoin enjoyed its best day in two weeks, rising 5% to $35,197. Emerging economies - where bank penetration is much lower than in developed countries and reliance on money transfers from abroad much higher - have been at the forefront of the cryptocurrency bonanza.

 

Outside the U.S., countries with the highest trading volumes and mining activity are all developing nations, according to BofA, including China, Colombia, India, Kazakhstan, Kenya, Nigeria, South Africa, Ukraine and Vietnam.

 

But the use of digital currencies can also pose risks for dollarized economies, such as El Salvador, the bank added. El Salvador relies heavily on money sent back from workers abroad. World Bank data showed remittances to the country made up nearly $6 billion or around a fifth of GDP in 2019, one of the highest ratios in the world.

 

It was not immediately clear what proportion of remittances sent to El Salvador are in the form of bitcoin.

 

The cryptocurrency offers, in theory, a quick and cheap way to send money across borders without relying on remittance firms typically used for such transactions.

 

Bukele says some 70% of people in El Salvador lack access to traditional financial services. Still, the cryptocurrency’s use for remittances globally is patchy. Converting local currencies to and from bitcoin often relies on informal brokers. Prices are volatile, and buying and selling is a complex process that demands technical knowledge.

 

El Salvador will “promote the necessary training and mechanisms so that the population can access bitcoin transactions,” according to the law.

https://www.reuters.com/article/el-salvador-bitcoin/update-3-in-a-world-first-el-salvador-makes-bitcoin-legal-tender-idUSL2N2NR0CY

Anonymous ID: c77ee1 June 9, 2021, 7:11 a.m. No.61442   🗄️.is đź”—kun   >>1450 >>1462

18-1942 USAF G5 KAF AC of interdast departed Doha, Qatar

Departed JBA as SAM605 on 0604 and had a ground stop/overnight at Ramstein AFB

0605 depart for Dubai and arrival

0608 depart and went to Pakiland (data inconclusive but prolly Lahore) and then arrived at Doha, Qatar same day

Today departed nw from Doha

Anonymous ID: c77ee1 June 9, 2021, 8:15 a.m. No.61450   🗄️.is đź”—kun   >>1452

#286

>>61405 China Launches Price Controls After Red Hot Inflation, Highest PPI Since Lehman Collapse

>>61411, >>61412, >>61413 Dr. Sherri Tenpenny: Fauci has the COPYRIGHT on the SPIKE PROTEIN

>>61414 What are the key differences between DNA and RNA?

>>61415 Republican governor signs law expanding mail-in voting

>>61416, >>61417, >>61418. >>61419 Why Are Planes Carrying Unidentified Children Landing in Tennessee In the Middle Of the Night?

>>61420 Survey: Progressives are twice as likely as conservatives to cut off friendships over politics

>>61421 Words of wisdom from black icon Thomas Sowell

>>61422 Sundance: Suppose Manchin were to change parties and flip the Senate?

>>61424 Physician C-SPAN caller told Fauci to resign in 2003!

>>61437, >>61438, >>61441, >>61442, >>61447 pf report(s) Joe is AF1 nao

>>61440 In a world first, El Salvador makes bitcoin legal tender-reuters

 

>>61448

Anonymous ID: c77ee1 June 9, 2021, 8:20 a.m. No.61451   🗄️.is đź”—kun   >>1462

>>61447

GRIM99 USAF E-4B Nightwatch heading across the pond-this not the Sec. of Defense though-they use TITAN25 as a call for that.

This is the support AC that travels with every POTUS

HOLE72 USAFSOC C-32B departed Jacksonville nw after arriving on 0607