Miscellaneous News
- Thread starter bd popeye
- Start date
EMPIRE SANCTIONS & RESERVES FREEZING & MINING RESOURCES
The new ruler will be facing lots of problem with its Central Bank is broke. As usual the USA has its financial clout freezing Afghanistan reserves abroad. There is no doubt that the new govt in Kabul will need assistance from its neighbor to survive the hard time ahead. But it's said that Afghanistan has lots of precious mining to fund that nation: REE; Titanium; etc. So hopefully they are able to form a sound new govt, and got a deal for emergency support from countries like China while under Empire's sanctions. I have no doubt among other that Washington will try to sabotage the new govt by financial means to create chaos! Standing on its own feet that nation may not have chance, but with the assistance from the SCO the nation may have chance to survive its toughest time. And 40 million people to feed.
And we have no idea what's the strategic plans of the major powers like China and/or Russia in dealing with difficult time of that land. But of course they know that the new govt in Kabul will have difficult time, moreover under the DC squeeze! But those are not something for the press or public consumption. So let's see how things develop there.
Afghanistan has vast reserves of gold, platinum, silver, copper, iron, chromite, lithium, uranium, and aluminium. The country’s high-quality emeralds, rubies, sapphires, turquoise, and lapis lazuli have long charmed the gemstone market. The United States Geological Survey (USGS), through its extensive scientific research of minerals, concluded that Afghanistan may hold 60 million metric tons of copper, 2.2 billion tons of iron ore, 1.4 million tons of rare earth elements (REEs) such as lanthanum, cerium, neodymium, and veins of aluminium, gold, silver, zinc, mercury, and lithium. According to Pentagon officials, their initial analysis at one location in Ghazni province showed the potential for lithium deposits as large as those of Bolivia, which has the world’s largest known lithium reserves. The USGS estimates the Khanneshin deposits in Helmand province will yield 1.1.-1.4 million metric tons of REEs. Some reports estimate Afghanistan REE resources are among the largest on earth.
So it seems Afghanistan is rich with resources, just awaiting the right partners to explore the buried rich to finance the development of Afghanistan! Indeed that nation's future is not such pessimistic if they can explore their wealth beneath the earth.
WASHINGTON, Aug 18 (Reuters) - The International Monetary Fund said on Wednesday it suspended Afghanistan's access to IMF resources, including around $440 million in new monetary reserves, due to a lack of clarity over the country's government after the Taliban seized control of Kabul.
Yesterday morning, shortly after the acting Afghan central banker chief, Ajmal Ahmady, fled the country (after he was “somehow pushed on board” of a military plane by his colleagues), and warning on twitter that the country has no dollars left domestically, sparking domestic bank runs and a record rout in the local currency, the Afghani, some asked what that means for Afghan reserves stored offshore.
While we republish Ahmady’s entire thread – which largely confirms what Reuters reported overnight – below, we wish to point out some of his notable disclosures, starting with his breakdown of major investment categories which include the following assets (all figures in billions)
Federal Reserve = $7.0
U.S. bills/bonds: $3.1
WB RAMP assets: $2.4
Gold: $1.2
Cash accounts: $0.3
International accounts = 1.3
BIS = $0.7
Ahmady also revealed that “given Afghanistan’s large current account deficit, DAB (Afghanistan Central Bank) was reliant on obtaining physical shipments of cash every few weeks.” Since it was the US that was providing said shipments of cash, we look forward to the Congressional hearings that will figure out just how much such cash was deployed to Afghanistan, and how much has now been lost.
Conveniently, overnight Reuters provided a handy breakdown of the international reserves owned by the DAB (as the Afghani central bank is called). The most recent financial statement posted online shows DAB holds total assets of about $10 billion, including $1.3 billion-worth of gold reserves and $362 million in foreign currency cash reserves, according to currency conversion rates on June 21, the date of the report. Notably, a big chunk of the reserves aren’t held in the country as we observed yesterday.
Analysis: Afghan central bank's $10 billion stash mostly out of Taliban's reach 18 AUG
U.S. official: assets in U.S. not available to Taliban
Central bank assets include $1.3 bln gold reserves in New York
Foreign currency cash kept in branches, presidential palace
UNESCO: Vaults also home to 2,000-year-old Bactrian Treasure
U.S. lawmakers urge block on Afghanistan's new IMF reserves
I already signed the petition online this morning, and hope many will follow! And will also pass the link to friends.
Is she only realising now? Outsource your military and foreign policy to another country it HAS consequences. You become America's closest ally, you also become the enemy.
What surprises me in the UK (and in Europe to a lesser extent) is the utter lack of thinking about consequences of actions. I don't just mean among the common folk, even among the top echelons, people you would think are intelligent and rational.
The only rational reason I can of is the utter inability of Anglos to see a world where they are the only overwhelming power.
Our resident Anglo Mr T is notably absent. Maybe he was afraid of getting on planes after all....
For all the Taliban fanboys in the thread.
India missed the opportune time for jumping the industrial manufacturing train during the peak years of neoliberalism. Western countries are going to want supply chains much closer to their shores or within their country. It is better to focus on service jobs. The growth of automation will only complicate matters so India's demographic dividend will matter less.
Is there any?
Taiwan was made a '' major non NATO ally'' back during the Bush years. Plus, in the same interview, he states this.
“Look, George, the idea that there’s a fundamental difference between Taiwan, South Korea, NATO. We are in a situation where they are entities we’ve made agreements with based not on a civil war they’re having on that island or in South Korea, but on an agreement where they have a unity government that, in fact, is trying to keep bad guys from doing bad things to them,”
It seems like it was bit of a slip of the tongue.
US Freezes Afghanistan Reserves, Threatens Economic Crisis. Russia Works to Establish New Government 20 AUG