The Blood of Jesus

 http://www.jamaicaobserver.com/sunday-finance/there-is-no-shortage-of-foreign-exchange-boj_203028?profile=1056

Remittances from us will stay constant for the time being. Our loved ones in Jamaica have to eat, our taxes in Jamaica have to be paid, some of us are building homes in Ja....However, if the slowdown continues for much longer, we might have a problem. Some of us are close to exhausting our savings. Canada's government support to us ends at the end of this month. Many businesses allowed to reopen have not, the stores shuttered. Those seem not to be able to open under the new public health guidelines so those workers are out on the street for good. Traffic and overall business activity is a shadow of its pre-Covid self. Where I live in Canada, there is a forest of For Sale signs on the houses around. Everyday a new one pops up. House prices are dropping. It's a buyers market. I just bought a Toyota for less than half its value and the family was desperate to sell it as they had all lost their jobs. Building vacancy rates are rising, rents dropping....

With regard to the lowering of demand for foreign exchange, the BOJ trumpets this as if it is good news. It is not. The contraction of demand for foreign exchange reflects a contraction in the economy. So, while this is good for the exchange rate and the supply of foreign exchange, people are hurting. The job of the BOJ is to manage the foreign exchange market but what is the use of boasting about that if people are in danger of losing employment, their savings and their homes? Panic? Yes. I cry 'Fire' in the crowded theatre...head for the exits. This is not a false alarm. Head for the exits...oh I forget, the embassies are still closed. Maybe the Blood of Jesus can help us? In the name of Jesus I proclaim the US dollar rate to remain stable. Oh, I forget, God sends plagues to us sometimes to teach us lessons....Are we learning though?

Raymond D. Grant
Research Director, EXILED
Canada Cell: (867) 445 - 2865

Immigrants, Migrant Workers and Refugees - Making the World a Better Place for All

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