Bank Of Israel Saves 200NIS Bill, Stackers - Repos To Reserves Surges To 73.5%

When a central bank saves you, time to ask who's really running the show here. Is it God? (Spoiler: Yes, unless you want to say this is a 36D political chess game run by morons.)

• Bank of Israel rejects canceling NIS 200 banknotes, citing no professional justification, despite Netanyahu's push to combat tax evasion and money laundering.

• Repos to reserves ratio hits 73.5%, signaling potential financial instability; reverse repos need to drain before posing a clear danger.

• Chinese fiscal support boosts metals; failed short attack on gold shows strong buyer interest, pushing prices higher.

• Moody's hints at potential US credit rating downgrade due to unsustainable debt dynamics, reflecting growing concerns over fiscal policies.

Bank of Israel to the Rescue! For Now!

This came out in Ynet, that garbage rag of an establishment newspaper that I happen to be suing for spreading lies about me and my family. Our hearing is on January 15, 2025, though it's been pushed off so many times it's a joke.

Anyway, Ynet reports the following:

Bank of Israel says there’s no justification to weigh abolishing NIS 200 banknote

The Bank of Israel says there is no “professional justification” for a proposal to cancel NIS 200 banknotes as part of an effort to combat tax evasion.

Prime Minister Benjamin Netanyahu instructed the central bank and government ministries last week to examine the possibility of abolishing NIS 200 notes as a measure to combat “black money” and money laundering.

“Even though the matter has been raised, no sufficiently established professional justification to cancel any banknote has been presented,” the central bank says in a statement. “The Governor of the Bank of Israel does not intend to use his authority to work toward canceling any banknote or to change the mix of banknotes in circulation.”

If the 200NIS bank note is not going to be touched, the gold and silver will not be touched either. For now. God only knows why an institution as evil as the Bank of Israel is standing up for us now, but I'll take what I can get. How long their roadblock will last is another question.

This could be just spite, because Netanyahu is so hated by everyone except his voters, or it could be the BoI is actually worried about what would happen to the economy if the largest bill were suddenly demonetized. Word has it that there was a massive binge on exchanging 200NIS bills for dollar cash, which makes perfect sense. The Arabs would bet the biggest sector hit, secondarily the Haredim (Ultra Orthodox Jews), and only thirdly the criminal economy including drug dealers and sex workers. Not including Big Pharma of course. They can do whatever the hell they want.

Repos to Reserves Ratio Shoots up to 73.5%