Posted on 08/23/2021 11:50:23 AM PDT by SunkenCiv
In an interview with Bloomberg, Ajmal Ahmady, governor of Da Afghan Bank, observed the majority of the central bank’s more than $9 billion in assets were frozen by the U.S. following the fall of Kabul to Taliban forces...
Last week, the International Monetary Fund said the Taliban has been prevented from accessing reserve assets worth about $500 million. Afghanistan functions primarily as a cash economy, but the Afghani, the nation's currency, is not accepted for cross-border trade, while an informal transfer system known as hawala doesn’t function efficiently in a modern financial environment.
Ahamdy predicted the Taliban will “probably try to go out to other countries to replace the U.S., and maybe China, Pakistan, or other regional countries to find some sources of finance, but it’s a tough situation.”
...CNBC reported that Afghanistan is suffering from a cash shortage due to runs on banks and a fraying currency, which is quickly driving up the price of consumer goods. Overseas funds transfers via The Western Union Company (NYSE: WU) have been suspended and the absence of central bank leadership leaves the country without a fiscal policy...
The blockchain data firm Chainalysis ranked Afghanistan as 20th out of the 154 countries for overall cryptocurrency adoption. Last year, Afghanistan didn’t rank at all due to a near-nonexistent cryptocurrency presence.
(Excerpt) Read more at benzinga.com ...
what could go wrong?
The nice thing about "flight to quality" buying in the stock market is, having sold off the turkeys a while back.
At a million bucks per foreign hostage the Taliban could generate plenty of cash for years....
Worse than what the former government was doing?
Afghanistan has an “economy?”
If you call heroin an economy, I guess so.
Ajmal Ahmady was born in the Ghazni Province of Afghanistan and was educated in Ghazni City. He has an MBA from Harvard Business School, a Masters of Economics and Public Administration from the Harvard Kennedy School, and a Bachelors in Mathematics and Economics from University of California, Los Angeles.
Ahmady is Muslim. He grew up in the United States. His native language is English, and he speaks some Dari.
Ahmady spent eight years in the asset management industry investing in global macro and emerging markets. He has also worked for Booz Allen Hamilton, the World Bank, an EM private equity group, the US Treasury Department and the Afghan Ministry of Finance.
Seems he represented more DC/deep-state elite than Afghanistan
They used to weave rugs in Afghanistan I believe.
Ponzi schemes and terrorists, a match made in heaven
I think you need electricity to use crypto.
They don’t care about “the economy”, they only care about “the bank account”, which is in Switzerland.
Chinese fentanyl has been replacing heroin for a while now; it's cheaper, and as a pharmaceutical, of a consistent strength (easier to cut with baby laxative and whatnot, without killing the customer base), and not reliant on a long, labor-intensive process after the single annual growing season delivers the raw materials. Once the Chinese start up with a decent substitute for crack (pre-freebased cocaine), the Taliban will probably take over South and Central America as well. :^)
Crypto doesn’t work after the Talliban shuts down cell phones and their internet.
As long as they accept crypto in payment, cool.
1. What economy? The only thing that economy had was the foreign money being spent and disappearing to a bank account in Dubai. And a little sprinkled to the restaurants and shops in the cities.
2. The country is one of the biggest exporter of heroin and hashish. It’s a narco state.
3. It has massive mineral deposits. They’ll make deals with the Chinese or whoever. Force labor. Take the money and move to Dubai.
To mine it, and to redeem it or sell it, yeah. But storage is on thumb drives, that doesn't require electricity. :^) You know you're really in trouble when a thumb drive with some bitcoin file on it is more valuable than everything else you own.
The drug economy will probably do just fine.
Are you kidding they can sell BILLION$ in US arms now and territorial access:-)
They have plenty of military hardware to sell, a lot of it they can’t maintain.
What economy?
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