Israel’s National Bank purchased undisclosed amounts of US dollars against shekel. The bank’s move will draw attention of international currency speculators who would dump the US dollars on Israel at a relatively favorable rate sponsored by the Bank of Israel. The bank’s resources fall incredibly short of US dollar amounts available to speculators.
The weakening of US dollar against shekel is prompted by overall weakness of US economy, the historically overvalued dollar, gradual switch to euro in international transactions, but also by the highly distorted Israeli economy. In Israel, the rich grow richer, export more, and bring more US dollars into the country. The poor grow poorer, and have insufficient demands for imported goods, and therefore for the US dollar.
Bank of Israel plays dangerously | |
|
|
The shekel must be tied to something tangible in Israel, not outside. The US dollar is not even tied to gold or silver any more. So that means it is tied to the 700 trillion debt, or just to the money manipulators pockets. It will all collapse around them, they will see. Even as we discuss this predicament the Israeli is focusing on buying Israeli produced products, what a wonderful idea. Most will get over not having whatever they think they just can’t live without from outside the country. By the way, just what is it that we don’t produce that is in such high demand as to drive our economy. We are commanded to RETURN, and return we shall and the desert will bloom even as it is beginning to do now.
israel jpost
a7 news