S.African Currency: Rand weakens to multi-year low after Powell testimony
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The rand dropped sharply overnight and hit its lowest level in almost three years early on Wednesday, after hawkish comments from US Federal Reserve Chair Jerome Powell and South African data showed a sharp economic contraction.
At 08:43, the rand traded at R18.50 to the dollar, the lowest it has been since May 2020 in the first months of the Covid-19 pandemic.
The biggest driver was a warning from Powell the previous day that US interest rates might need to go up even faster and higher than expected to rein in inflation, said ETM Analytics in a research note.
His comments pushed the dollar to multi-month highs against most other major currencies on Wednesday.
The rand’s slide was compounded by gross domestic product (GDP) figures released on Tuesday that showed South Africa’s economy contracted more than expected in the fourth quarter of last year.
If it contracts again in the current quarter, South Africa will be in a recession.
“A strong ZAR view relied heavily on the USD losing ground, but the chances of that happening in the near term have evaporated,” ETM said.
The government’s benchmark 2030 bond was slightly weaker in early deals, with the yield up 2 basis points to 10.190%.
Source: https://www.moneyweb.co.za/news/markets/rand-weakens-to-multi-year-low-after-powell-testimony/
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This is one of the greatest analyses of the Jews that has ever been done. This book was published in 1922.Hilaire Belloc was a very prolific French writer and thinker. A wonderful aspect of this book is that it contains information about the Jews and their hideous deeds (e.g. in Russia) which Jews have tried very hard to completely remove from history. When you read this book you will realise that in 100 years, absolutely nothing has changed. He also hints at the Jews being behind the ‘South African War‘ (i.e. The 2nd Anglo Boer War).
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The Jewish Religion: Its Influence Today by Elizabeth Dilling
This American Christian woman exposed the Jews massively in this book in 1963. Later versions of the book had chunks removed regarding the evil Jewish Talmud. She detested communism and was pro-Axis during WW2. She was a heroine.
