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Toronto – The Ethiopian Birr is further losing value against major currencies. State-owned bank information indicates that it dropped by three birr against the dollar in just one day.
Exchange rate disclosure the bank announced on Thursday indicates that the bank’s buying rate for US$1 was 116.6 and the selling price was 119.0.
Recently, the National Bank of Ethiopia introduced a regulation for the difference between the buying and selling prices not to be more than two percent.
As to other currency rates, the bank was buying £1 for 148,113 birr and selling for 151. On the other hand, €1 was fetching 125.78 when the bank bought and 128.29 when selling.
The parallel market is reportedly exchanging US$1 for over 140 Ethiopian birr.
When Abiy Ahmed’s administration introduced further devaluation of Ethiopian Birr under the guise of “macro-economic policy reform” under pressure from the World Bank and IMF in July this year, US$1 was exchanged only for 57 Ethiopian birr.
Speculation is high that birr will lose further against major currencies and that the Ethiopian government is working on bigger denominations.
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Well, as the Western ‘Credit based’ system (according to the experts) is standing on its last leg and the ‘bubble’ is about to burst at any moment, according to many economic and financial observers.
If and when the bubble burst identical situation or worse than the ‘Weimar Republic faced economic and political crises’ is due to hit the Western economies… to illustrate that scenario, before the crisis $1 USD was = $1 GM, after the crisis hit, $1 USD = $1,000,000 GM.
Now many predict major US Banks ( such as Bank of America) are facing huge challenges, and UK & EU banks are not far behind (if not in worse condition), based on the Western expert analysis ( expressed in the videos below) the rate of Eth birr vs USD might end up having the reverse rates like $1 Eth birr = $500 USD, or worse $1,000,000 USD.
Paying USD denominated debt might becomes ‘so easy’ ( well, hold your horses, do not go out and borrow $$$ now).
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Richard D. Wolff & Michael Hudson | BRICS Shocker: Russia, China & Iran Ready to Face Off w/ the US!”
Link = youtube.com/watch?v=fsX_z9nzRao
”
China Says No! Europe’s Economy Faces Collapse While the U.S. Struggles to Keep Up.”
Link = youtube.com/watch?v=pEn2p4IgM6Y
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Could the U.S. Really Walk Away from Its $35 Trillion Debt?”
Link = youtube.com/watch?v=RmMyIC0mdkg
”
China Surges As Europe’s Economy Faces Collapse And The U.S. Is Struggling To Keep Up!”
Link = youtube.com/watch?v=vWw2qYEmJDA
”
The US Sovereign Debt Crisis is Getting Worse, Faster”
Link = youtube.com/watch?v=4uMZ9CZiYBs
”
“Start PREPARING Yourself…” | Jim Rickards”
Link = youtube.com/watch?v=HgDWExflGaw
The “macro-economic policy reform” may turn out to be a ‘stock of genius’ or ‘bad timing’, just like going hiking on a mountain just before the ‘volcanic activity’ is about to burst…
Well, wait and see!
Be well.
Geopolitical Economy Report
By Ben Norton.
“BRICS grows, adding 13 new ‘partner countries’ at historic summit in Russia”
Link = youtube.com/watch?v=wUdlzmk73Ns
Be well.
“BRICS Bridge & BRICS Clear, new financial architecture”
By, The Duran
link = youtube.com/watch?v=Dkfa9iUH83k
“U.S. economist: BRICS to form true multilateral world”
Jeffrey D Sachs at CGTN
Link = youtube.com/watch?v=ZOL22qpYd7w
Be well.
Modern monitory theory, & debt to GDP explained… ( US)
“Jim Rickards: “Central Banks Are About To COLLAPSE The Economy and Here’s How.”
Link = youtube.com/watch?v=cBWujxxvqoQ
Be well.
“Prof. Jeffrey Sachs : Building BRICS Around the West”
Judge Napolitano – Judging Freedom
link = youtube.com/watch?v=qduLR489dCY
Be well.
“China’s Historic BRICS Speech: Revealing New BRICS Plans, Send Shockwaves!”
Link = youtube.com/watch?v=KNUW_Plu2bY
“The times they are a changing” ,
[Verse 1]
‘Come gather ’round, people, wherever you roam
And admit that the waters around you have grown
And accept it that soon you’ll be drenched to the bone
If your time to you is worth saving
And you better start swimmin’ or you’ll sink like a stone
For the times, they are a-changin’
Bob Dylan
Be well.
“BAD to WORSE: $628 Billion in Unpaid Debt, Housing Crisis, US Consumers Are Struggling to Pay Bills”
link = youtube.com/watch?v=DY5oL8fVx9s
Bob Dylan
“The Times They Are a-Changin’ [LIVE IN ENGLAND – 1965]” ( vs US 2025)
Link = youtube.com/watch?v=Q9_nWlSX6Us
Be well.
The many secretive & hidden hands of :
Bank for International Settlements (BIS)
“World’s Most Powerful & Secretive Financial Institution: What It’s Done & Planning Next – Adam LeBor”
link = youtube.com/watch?v=bfivIBK9cm4
The dark-forces (little men) “behind the curtain” being exposed as the “Golden Age” shines its golden-light on these rats…
This is the ‘the time’, that is mentioned in the Bible as ‘the eye of the needle’, meaning everyone can see who goes through it , and those (the Dark ones) who cannot go near it… & shiver just looking at it in the distance.
Bob Dylan
“The Times They Are a-Changin’
Link = youtube.com/watch?v=Q9_nWlSX6Us
Be well