Russia’s foreign currency reserves fall to lowest levels since 2008 amid mounting deficits
Russia’s foreign #currency #reserves, built over a decade from surplus revenues in the raw materials sector, are nearing exhaustion
To address its #budget shortfall, Russia has also begun selling off #gold reserves from the #NWF
#Cisgender #Scottish #Woman Sent to #Male #Prison After Being #misidentified by #Staff as #Transgender.
The moved sparked #publicoutrage that a #woman was being #subjected to the special form of #hell that the #UK generally #reserves solely for #trans people.
#Women #Transgender #LGBTQ #LGBTQIA #UK #Police #Incarceration #Hate #Bigotry #Violence #Transphobia #TERFIsland #NoPoliceAtPride
https://lucyfromnaarm.com/p/scottish-cis-woman-sent-to-male-prison
"A national government is well placed to ensure acceptance of its own money. […]
"The key to ensuring acceptance of a national currency is in the state’s power to tax. By specifying that taxes and other obligations to the state must be settled in government money, the government creates a need for individuals and businesses to obtain the currency."
Peter Cooper (2015): https://heteconomist.com/money-interpreted-as-an-iou/
many mines in the Black Hills faced declining production and eventually closed.
But #MiningOperations continue to this day, particularly in areas where modern exploration techniques have revealed new #reserves or where mining methods have become more efficient. Mining in the #BlackHills has had significant environmental impacts, including #deforestation, #SoilErosion, and #WaterPollution, resulting in #conflicts with #NativePeoples who consider the Black Hills to be a sacred site.
16/20
#Indian #SupremeCourt #reserves #judgment on #pleas seeking to #legalise #samesexmarriage
Centre (#Indian #Federal #Government) told the top court that it has received #responses from seven #states on the #samesexmarriage issue. #Rajasthan, #AndhraPradesh and #Assam #opposed the petitions while #Sikkim, #Maharashtra, #UttarPredesh and #Manipur have sought more time to respond.
After 10-Day #Hearing, #SupremeCourt #Reserves #Judgment in #MarriageEquality #case
The 5-judge #ConstitutionalBench heard the batch of #pleas seeking #marriageequality in #India
#Women #Transgender #LGBTQ #India #MarriageEquality #SameSexMarriage
https://www.thequint.com/amp/story/gender/sc-reserves-judgment-in-marriage-equality-case
In its simplest form, "Quantitative Tightening" #QT shrinks the balance sheet of the Fed (or of the Central Bank] on the asset side (bonds not reinvested) and on the liability side – here, the standard is that bank #reserves are destroyed.
As the government keeps issuing #bonds over time, it’s up to the private sector to absorb bond issuance [that is to buy #debt]. [See table.] Reserves are destroyed, and private #investors have less room to allocate #money towards riskier assets.
Why does ’’liquidity’’ matter? The #Fed intends to drain #liquidity at a rapid pace in 2023. And while the pace might be more friendly for the next months, don’t get distracted. Banks, the repo market and Wall Street will soon start feeling the heat.
The #Fed is draining ’’liquidity’’ from markets [by shrinking reserves]; and over time that leads investors’ risk appetite to fade. Less #reserves => wider #credit spreads.
And in 2023, a lot will be going on with bank reserves:
Banks use reserves to transact with each other and with the Fed [or the Central Bank]: to settle transactions, buy bonds (!) from each other, and lubricate the biggest #funding mechanism in the world – the repository market.
#Banks don’t use #reserves to buy stocks because equities are not a regulatory well-treated asset (HQLA). But yes, the amount and the rate of change of bank reserves matter for #repo markets and risk appetite.
[Below is a reformat of a Twitter thread about #finance by Alfonso Peccatiello, dated 25th January 2023.]
Money ’’liquidity’’ is a crucial and widely misunderstood driver of financial markets. Let’s explain what #liquidity means, and where it’s headed next.
Let’s first explain what "liquidity" is in #simpleEnglish. Let’s start with the basics: "liquidity"==bank reserves.
Bank #reserves are money for banks:
Of course, I am a real person (my name is Petra), living in one of the most important #biosphere #reserves in #Europe, a transnational region of #forest . I am living in the #French part (the other one is on the German side of the border), the #naturepark #VosgesDuNord.
This #video is a very good #introduction to our wonderful #landscape https://www.youtube.com/watch?v=wDxKCyf3TcA&t=170s (Indeed, I live there, where other people make holidays).
