Click here to view original web page at www.zerohedge.com
The Governor of the Dutch central bank stated the gold revaluation account ensures the solvency of his central bank in an interview on television about prospective losses. The significance of this statement is that if any European central bank will cover losses by using its gold revaluation account in full, the ECB has to put a floor under the gold price . And if more losses need to be covered than the current gold revaluation accounts of European central banks allow, the ECB will need to revalue gold. Introduction
A discussion has commenced in the Netherlands after Klaas Knot, Governor of the Dutch central bank (DNB), wrote a letter to Sigrid Kaag, Dutch Minister of Finance, on September 9, 2022. The letter is titled: “ DNB foresees deterioration of capital position .” Knot warns Kaag of DNB losses due to interest rate hikes—decided by the European Central Bank (ECB) but applied by all National Central Banks (NCBs) of the Eurosystem. In recent years Quantitative Easing (QE) has made DNB, and all other NCBs, create an abundance in bank reserves to buy government bonds. Now the ECB is raising interest rates DNB has to pay banks more and more interest over their excess reserves. These expenditures cause DNB to suffer losses to the detriment of its capital position (equity). Note, all NCBs in the Eurosystem face similar challenges.
For this year DNB expects a small loss but for the years 2023 through 2026 a loss of €9 billion euros is expected. Though, it could be more. DNB’s equity is currently €11.3 billion. If the losses exceed €11.3 billion, DNB’s equity will become negative. Although it’s possible for a central bank to operate under negative equity , it does hurt credibility—a central bank’s most valuable asset. And once credibility is lost […]
Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our Giving Fuel. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
We currently operate:
- NOQ Report
- Conservative Playlist
- Uncanceled News
- Based Underground
- Five other conservative news sites
I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.
For those who have the means and just want to help keep the mission of spreading a conservative, Christian message to the nation, please consider a generous donation.
