Forwarded from DD Geopolitics
🇵🇾 Paraguay's Ueno Bank collapses, locking out nearly 3 million customers as lawmakers move to impeach President Peña
The Central Bank of Paraguay shut down Ueno Bank on November 3 after its solvency ratio fell below half the legal minimum. The bank's roughly 2.9 million customers, in a country of about 6.1 million, lost access to their accounts. About $380 million in public pension investments is also awaiting recovery.
Depositors lined up outside branches and protested in Asunción, with reports of scuffles with police and tear gas. Others began a vigil outside Congress, demanding their money back and the president's impeachment.
Central bank president Carlos Carvallo, who chaired Ueno's predecessor from 2021 to 2023, has resigned. Eight bank executives have been detained, including founder Federico Vázquez, and prosecutors have charged 27 people.
On Wednesday, opposition and dissident ruling party deputies filed impeachment charges against President Santiago Peña and Vice President Pedro Alliana. Peña held shares in Ueno Holding until April 2025, but denies ever having a stake in the bank itself.
The impeachment needs 53 of 80 votes in the lower house to reach the Senate.
🔴 @DDGeopolitics
The Central Bank of Paraguay shut down Ueno Bank on November 3 after its solvency ratio fell below half the legal minimum. The bank's roughly 2.9 million customers, in a country of about 6.1 million, lost access to their accounts. About $380 million in public pension investments is also awaiting recovery.
Depositors lined up outside branches and protested in Asunción, with reports of scuffles with police and tear gas. Others began a vigil outside Congress, demanding their money back and the president's impeachment.
Central bank president Carlos Carvallo, who chaired Ueno's predecessor from 2021 to 2023, has resigned. Eight bank executives have been detained, including founder Federico Vázquez, and prosecutors have charged 27 people.
On Wednesday, opposition and dissident ruling party deputies filed impeachment charges against President Santiago Peña and Vice President Pedro Alliana. Peña held shares in Ueno Holding until April 2025, but denies ever having a stake in the bank itself.
The impeachment needs 53 of 80 votes in the lower house to reach the Senate.
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Forwarded from Press TV
French protesters prepare for fresh protest demonstration; trade unions call for nationwide strikes
French protesters prepare for another round of weekend rally as trade unions call for nationwide strike against rising living costs, government spending cuts and worsening public services.
@PressTV
French protesters prepare for another round of weekend rally as trade unions call for nationwide strike against rising living costs, government spending cuts and worsening public services.
@PressTV
PressTV
French protesters prepare for fresh protest demonstration; trade unions call for nationwide strikes
French protesters prepare for a fresh round of demonstrations, as trade unions call for nationwide strikes over rising living costs.
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The Bank of England voted 8-1 to raise the interest rate to 4%.
BlackRock needs to get repossessed homes for next to nothing! So people with variable mortgages need to be hit!
📱 ROBINMG
BlackRock needs to get repossessed homes for next to nothing! So people with variable mortgages need to be hit!
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Forwarded from Zeee Media 🎙
UK is now threatening Brits who refuse to fight in WW3 that they will face issues being employed after the conflict if they manage to survive the war.
https://www.mirror.co.uk/news/uk-news/ww3-brits-conscription-army-shame-37844866
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https://www.mirror.co.uk/news/uk-news/ww3-brits-conscription-army-shame-37844866
Follow @zeeemedia
Website | X | Instagram | Rumble
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Forwarded from Lawyers of Light
I really want to get across just how much has been robbed from us through many things, but not least by diminishing the value of our labour over the years. Below is the best way I can think of do it and no doubt if you're shocked you will share the figures far and wide :
A typical/median full-time UK salary in the 1960s (around £750 per year), bought roughly 55–65 ounces of gold
For April 2026 median gross annual earnings for full-time employees who had been in the same job for at least a year were £40,911 equating to the value of 13.4 ounces of gold
For today's median salary to keep the same gold purchasing power as in the 1960s, it would need to be around £180,000
Why should the value of our labour, which actually produces or makes or services things, be so debased? I will leave you to figure that out
A typical/median full-time UK salary in the 1960s (around £750 per year), bought roughly 55–65 ounces of gold
For April 2026 median gross annual earnings for full-time employees who had been in the same job for at least a year were £40,911 equating to the value of 13.4 ounces of gold
For today's median salary to keep the same gold purchasing power as in the 1960s, it would need to be around £180,000
Why should the value of our labour, which actually produces or makes or services things, be so debased? I will leave you to figure that out
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Forwarded from Adrianna Diaz 🐿🎄 🧯
It has been going on for centuries, the pound was always a unit of account based on a Troy pound of sterling silver, with a 12:1 gold silver ratio
Then they tried going to a « gold standard » but the pound coins were only half an ounce… so you really only got a half a Troy pound worth of silver bullion for a « sterling pound »
Then the gold coins eventually got cut in half and that was the standard for almost a century between 1817-1914
When they stopped allowing the citizenry to redeem the currency for gold at banks because of the « Great War »
Gold redemption never resumed. In the 1960s there was no redemption and you could still buy a « pound coin » (quarter ounce pure gold sovereign coin) for about 10 GBP…
Only very few people did. Actually the government forbade owning more than 4 such coins !
You needed a loicence as a coin collector …
Anyways by the 1980s those same coins retailed for 50GBP
Now those are upwards of 750GBP and still very few people own gold.
The currency debasement is inherent to the system.
It takes thousands of currency units to buy a quarter ounce of gold in developing countries today. The way things are going, it is guaranteed to happen in the West within two decades.
Then they tried going to a « gold standard » but the pound coins were only half an ounce… so you really only got a half a Troy pound worth of silver bullion for a « sterling pound »
Then the gold coins eventually got cut in half and that was the standard for almost a century between 1817-1914
When they stopped allowing the citizenry to redeem the currency for gold at banks because of the « Great War »
Gold redemption never resumed. In the 1960s there was no redemption and you could still buy a « pound coin » (quarter ounce pure gold sovereign coin) for about 10 GBP…
Only very few people did. Actually the government forbade owning more than 4 such coins !
You needed a loicence as a coin collector …
Anyways by the 1980s those same coins retailed for 50GBP
Now those are upwards of 750GBP and still very few people own gold.
The currency debasement is inherent to the system.
It takes thousands of currency units to buy a quarter ounce of gold in developing countries today. The way things are going, it is guaranteed to happen in the West within two decades.
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