Uncensored Israel News, Jewish news, National Israeli news

The TA-25 index registered its largest increase in three months amid larger-than-expected overseas income.

The profits are largely attributable to the Bank of Israel’s intervention, which keeps the dollar artificially high, and consequently makes overseas income balloon.

The BOI creates a major bubble with interventions in the foreign exchange market and by keeping the interest rate at near-zero. While BOI’s policy cannot increase industrial investment, it props speculation and the real-estate boom, only to make the eventual restructuring more severe.

Hebrew University canceled a tender on selling two buildings in the Kiryat Yovel neighborhood of Jerusalem, which had been won by a haredi company. The ultra-left university administration is careful not to let its real-estate fall into the hands of its ideological enemy.

North Korea’s Foreign Ministry indicated that it is ready for negotiations with the United States, but refused the previously agreed-upon six-nation negotiations format.

The communists understand that it is much easier to wrest concessions from Obama than from China or Russia. The North Koreans refuse disarmament, however, so the purpose of the talks is not clear.

Fearful of accepting responsibility, the Obama Administration refuses to engage in bilateral talks.

July 2009
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