hear you bro. usually say nothing, first time for everything.
o7
lb
German AF GAF447 Airbus A400M nw from Amman Jordan-just east of
freddy gonna round you dumbshits up
the ESF uses special drawing rights from muh IMF so the funds come from them. The FRB is just shifting liability around. This needs time to play out
The Exchange Stabilization Fund (ESF) consists of three types of assets: U.S. dollars, foreign currencies, and Special Drawing Rights (SDRs), which is an international reserve asset created by the International Monetary Fund.
The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury ("the Secretary").
The Secretary is responsible for the formulation and implementation of U.S. international monetary and financial policy, including exchange market intervention policy. The ESF helps the Secretary to carry out these responsibilities. By law, the Secretary has considerable discretion in the use of ESF resources.
The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that "the Department of the Treasury has a stabilization fund …Consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates, the Secretary …, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities.
https://home.treasury.gov/policy-issues/international/exchange-stabilization-fund
Rosneft hands Venezuelan oil business to Russian state firm
MOSCOW — Russia's Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin's government, a move apparently intended to shield Russia's largest oil producer from U.S. sanctions while Moscow continues showing support for Venezuelan President Nicolás Maduro in the wake of a U.S. narcotics indictment.
The sale, announced Saturday, follows the recent sanctioning of two Rosneft subsidiaries in an effort to cut a critical lifeline that Russia extended to Maduro after the U.S. government made it illegal for Americans to buy crude from Venezuela.
Rosneft, led by longtime Putin associate Igor Sechin, said its move means “all assets and trading operations of Rosneft in Venezuela and/or connected with Venezuela will be disposed of, terminated or liquidated.” It did not name the new company that would take over the assets, which include multiple joint ventures, oil-field services companies and trading activities. The move comes at a critical time for Maduro's government. The spread of the coronavirus threatens to overwhelm Venezuela's already collapsed health system while depriving its crippled economy of oil revenue on which it almost exclusively depends for hard currency.
Maduro said later Saturday during a call to a state television program that Putin had assured him of Moscow's "comprehensive, strategic support" to Venezuela "in all areas.” He said the message was relayed by Russia’s ambassador to Caracas. Amid the pandemic, which has claimed two victims and infected 118 others in Venezuela, the U.S. is stepping up pressure to remove Maduro. On Thursday, it made public indictments against the socialist leader and several top aides for allegedly leading a narcoterrorist conspiracy that converted the Venezuelan state into a platform for violent drug cartels, money launderers and Colombian guerrillas who sent 250 metric tons of cocaine a year to the U.S.
https://www.msn.com/en-ca/money/topstories/russias-rosneft-oil-company-ceasing-venezuela-operations/ar-BB11QrkW