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CA Gov. Newsom to Use Taxpayer Funds to Protect Migrants from Deportation While California Has a $68 BILLION Deficit
An internal memo being circulated within Newsom’s administration calls for the “creation of an Immigrant Support Network comprised of regional ‘hubs’ to connect at-risk individuals, their families, and communities with community systems — such as legal services, schools, labor unions, local governments, etc.”
Ron Vitiello, the former acting ICE Director, said that Newsom aims to use taxpayer money to fight the deportation of illegal aliens against the will of the people who want deportation and safe streets. California has a $68 BILLION deficit!
more…
https://youtu.be/7tqia8OQC2I
https://needtoknow.news/2024/12/ca-gov-newsom-to-use-taxpayer-funds-to-protect-migrants-from-deportation-while-california-has-a-68-billion-deficit/
https://nypost.com/2024/12/24/us-news/calif-gov-newsom-mulls-ways-to-help-illegal-migrants-dodge-trumps-mass-deportation/
Dollar share of global currency reserves at 29-year low — IMF
Countries have stepped up efforts to move away from the greenback, data shows
The share of the US dollar in global foreign exchange reserves has dropped to its lowest in nearly 30 years, according to the latest data published by the International Monetary Fund (IMF).
The statistics tracked by the Washington-based institution show that the greenback’s share in official reserves dropped by 0.85% between July and September this year, and now stands at 57.4% – its lowest level since 1995. The IMF does not provide statistics for earlier years.
The IMF flagged the trend in June, when it noted in an official blog that the dollar’s decline was occurring amid diversification efforts by countries around the world. For instance, while data shows that the greenback’s share has been steadily dropping for the past three quarters, the share of “nontraditional” currencies has been gaining ground.
The greenback has also been ceding ground to the euro. In the third quarter, its share jumped to 20.02% compared to 19.75% in the second quarter. Global investmentsin the Japanese yen have surged for the past six quarters, with its share in Q3 amounting to 5.82%.
Data also showed a halt in the decline in the Chinese yuan’s share in global forex holdings, which lasted for nine quarters. In Q3, the yuan’s share rose to 2.17%.
Despite the downward trend, the dollar so far remains the preeminent reserve currency, IMF statistics show, with the euro firmly in second place.
The greenback’s long-standing status as the world’s dominant currency has been jeopardized in recent years amid concerns over soaring US debt and sanctions Washington has been placing on its rivals, including Russia.
As part of anti-Russia sanctions that followed the escalation of the Ukraine conflict in February 2022, the US cut off the country’s central bank from dollar transactions. It later banned the export of dollar banknotes to the country and spearheaded the drive to freeze Russian assets abroad. Foreign Affairs magazine wrote in June that the sanctions on Russia had “undoubtedly left other central banks wondering whether their own dollar-denominated rainy-day funds would be locked up should their governments run afoul of Washington.”
READ MORE: ‘Find another sucker’: Trump threatens BRICS with massive tariffs, but who will suffer the most?
Meanwhile, sanctions have forced Russia to de-dollarize. According to September data, Moscow and its partners in the BRICS economic bloc are now using national currencies in 65% of mutual trade settlements. In a speech at the BRICS summit in Kazan in October, Russian President Vladimir Putin warned that Washington’s weaponization of the dollar through sanctions and denying countries access to the Western financial system was a “big mistake” that will force them “to look for other alternatives, which is what is happening.”
https://www.rt.com/business/610051-dollar-share-forex-reserves/
Why do we call it a 'dollar'?
Yes, our money has Bohemian origins
It all begins, logically enough (if you accept a somewhat loose definition of “logically”), in a small mountain town in northwestern Bohemia, named Jáchymov. In the beginning of the 16th century this town (located in what today is the Czech Republic) was known by its German name, Sankt Joachimsthal, which may be translated as “dale (or valley) of Joachim.” This may not seem yet like it allows a logical path to the modern dollar, but it will.
About the beginning of the 16th century the Count of Schlick (a name that comes from genuine history books, and not from a Lemony Snicket novel) opened a mine in this town, and from its ore began to mint and issue a good amount of silver coin. William Lyman Fawcett, in his Gold and Debt; an American Handbook of Finance (1879) informs us that these coins were “of uniform weight and fineness” and that “traders of the time were in want of some international standard,” and so “these coins soon became in good repute all over Europe under the names of Schlicken thalers or Joachim’s thalers.”
The second of these names, more often written as joachimstaler, appeared to have had more success than did schlicken thaler, although it did not last for a terribly long time. Soon the name of this coin became shortened to the German taler, and from there became daler. By the middle of the 16th century the English language had added daler to its vocabulary, used in reference to an increasing variety of coins from Europe and elsewhere which were being so described.
The dollar was proposed as the monetary unit of the United States in the early 1780s, and adopted formally in 1792 (although they were not actually issued as currency until 1794). Since that time our language has taken on a remarkable number of synonyms for this word for “100 cents,” often found in the form of slang. We have paid for things with bones, bucks, smackers (and smackeroos), clams, iron men (for silver dollars), plunks, and simoleons.
more…
https://www.merriam-webster.com/wordplay/why-do-we-call-it-a-dollar