tyb
get that shit out of here
get 'em B
South Korea and US look closely at N.Korean launch
South Korea's military says that North Korea launched two projectiles which appear to be short-range ballistic missiles toward the Sea of Japan on Sunday morning.
The South Korean and US militaries are collecting and analyzing information related to the launch to identify the type of projectiles.This is the fourth time this month that the North has launched projectiles and it is believed to be repeating launches to improve the technology.
The South Korea's Joint Chiefs of Staff announced that Pyongyang fired two projectiles that appear to be short-range ballistic missiles at 6:10 a.m. local time Sunday from near Wonsan in the country's east. They flew about 230 kilometers toward the Sea of Japan and reached an altitude of about 30 kilometers.
South Korea's Yonhap news agency reported that the projectiles can be short-range ballistic missile, which the North describes as a "super-large rocket system," considering their range and altitude. Pyongyang has launched such projectiles several times since the second half of last year.
The intervals between launches are getting shorter, and the North is suspected of trying to improve successive firings.
Analysts say that North Korea apparently wants to show off its military readiness and pressure the United States and South Korea. They say that its leader Kim Jong Un wants to see the reaction of the two countries. He exchanged letters about the coronavirus outbreak with the US President Donald Trump and with South Korean President Moon Jae-in earlier this month.
South Korea's military called upon Pyongyang to immediately stop military action, as they are inappropriate as the world is struggling in the fight against the chinavirus pandemic.
https://www3.nhk.or.jp/nhkworld/en/news/20200329_16/
le Badger
Bank of Korea to Offer $12 Billion to Banks Using FX Swap Line with Fed
The Bank of Korea will provide $12 billion to banks in its first round of dollar injections using a currency swap line with the Federal Reserve. The auction will be held on Tuesday at 10 a.m. Seoul time, and banks may apply for 7-days debt of up to $300 million, and 84-days debt of up to $1.5 billion, the central bank said in a statement. The minimum bidding rate will be decided on Monday.
The supply of funds is expected to help stabilize markets, and the central bank will hold more auctions considering the demand for dollars in the market, according to the statement. The $12 billion supplement is expected to be enough to meet market demands for now, the central bank said.
The BOK on March 19 agreed on a $60 billion swap line with the Fed as the spread of the chinavirus and a plunge in oil prices led to a rush for haven and dollars, resulting in a shortage of the greenback and a plunge in the local currency. The central bank last week said it will supply dollars to markets in doses using the swap line with the Fed, with the first round of the injection being substantially larger then the rest.
https://www.bloomberg.com//news/articles/2020-03-29/bok-to-offer-12-billion-to-banks-using-fx-swap-line-with-fed
This is how THEY define it. The system still needs dollars so they are taking on Won for $'s.
They may even be using the Exchange Stabilization Fund (ESF)-via the SPV to do this as that was originally established as a currency management system
Central bank liquidity swaps
The Federal Reserve operates these swap lines under the authority of section 14 of the Federal Reserve Act and in compliance with authorizations, policies, and procedures established by the Federal Open Market Committee (FOMC).
Separately, since 1994, the Federal Reserve has had bilateral currency swap agreements with the Bank of Canada and Bank of Mexico, established under the North American Framework Agreement (NAFA).
Dollar Liquidity Swap Lines
In response to mounting pressures in bank funding markets, the FOMC announced in December 2007 that it had authorized dollar liquidity swap lines with the European Central Bank and the Swiss National Bank to provide liquidity in U.S. dollars to overseas markets, and subsequently authorized dollar liquidity swap lines with each of the following central banks: the Reserve Bank of Australia, the Banco Central do Brasil, the Bank of Canada, Danmarks Nationalbank, the Bank of England, the European Central Bank, the Bank of Japan, the Bank of Korea, the Banco de Mexico, the Reserve Bank of New Zealand, Norges Bank, the Monetary Authority of Singapore, Sveriges Riksbank, and the Swiss National Bank. Those arrangements terminated on February 1, 2010.
In general, these swaps involve two transactions. When a foreign central bank draws on its swap line with the Federal Reserve, the foreign central bank sells a specified amount of its currency to the Federal Reserve in exchange for dollars at the prevailing market exchange rate.
https://www.federalreserve.gov/monetarypolicy/bst_liquidityswaps.htm
God I hope not-unless it's as you say but we don't need to be in that role any longer. Plus I think once the rest of the world figures out what has been going on they won't want anything to do with it once the truth gets out. We need fungible currency worldwide so these idiots can't trade it back and forth and create moar crap based on the relative values of each currency-it's about a $6t market daily If currency X is moar valuable than the other you will always have an opportunity to trade against that difference.
noice
trips confirm. Some background and some comment doesn't hurt or all you have is stale MSM articles.
goodnight B