Comments on: Norwegian Krone Collapses Amid Coronavirus Crisis /norwegian-krone-collapses-amid-coronavirus-crisis/ All Things Norway, In English Tue, 03 Nov 2020 18:01:28 +0000 hourly 1 By: Ante /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-727491 Tue, 14 Apr 2020 01:01:07 +0000 /?p=40833#comment-727491 In reply to Paulo.

Which means nothing good for workers . Only the export and the government are the ones who see the benefits.
Thing is they don’t care about foreign workers . More money stays in Norway , with worse Nok.

Here is the real reason why NOK is low

DN noted that Norway’s Oil Fund was worth a dizzying NOK 10,088 billion at New Year. On Thursday morning, it was worth NOK 10,500 billion even after the recent international stock market dives. Its stock market portfolio, which accounts for 70 percent of the fund’s assets, was down but the bond and financial portion of the fund has increased while both the dollar, euro and other major currencies have risen against the krone. “When the krone falls, shares and commercial paper in dollars and euros are worth more in kroner,” DN noted.

Measured in strictly dollars, the value of the Oil Fund has fallen around 24 percent this year. Measured in krone, it gives Norwegian politicians more room to act as they try to bolster businesses and household income that’s suddenly disappeared with this week’s massive layoffs. The government is allowed to spend 3 percent of the kroner value of the Oil Fund every year. Right now, that amounts to well over NOK 300 billion. ”

So actually norway lost 24 percent of the wealth in this corona crisis , which would mean 24% less of that 3% in the budget, but smart people governing Norways finance are playing dumb and “woried” with low NOK, when instead they want it even worse as value of fond is 500 bilion of NOK more than it was before crisis.
Which means they can pull more money trough this 3% which means then they can buy votes , have export growing along with companies which are generally all Norwegian owned and workers are mostly import so screw them and their selling nok for other currencies = just win win for Norge

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By: Dolores /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726933 Mon, 30 Mar 2020 11:15:58 +0000 /?p=40833#comment-726933 In reply to Samantha Jones.

The bible was written by a few old men years after the event, I wouldn’t put much store in what it says if I were you. Jesus said ‘The kingdom of Heaven is within’. Raise your consciousness level. We will all be fine.

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By: Samantha Jones /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726663 Wed, 25 Mar 2020 01:25:47 +0000 /?p=40833#comment-726663 In reply to John.

This is the beginning of the ushering in of the one world government/new world order. Read up on Bible prophecy and seek Jesus with your whole heart while you still can. All will suffer in the end, but the wealthiest countries will be hit hardest on the front end because they have to get us to a point of desperation so that we will hand over our national and cultural sovereignty.

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By: Paulo /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726577 Tue, 24 Mar 2020 07:16:46 +0000 /?p=40833#comment-726577 In reply to Vivi.

But the investments of the Norwegian fund is mostly abroad and in USD. So when the USD goes up (against the NOK) it means that the fund has more NOK and not less.

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By: John /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726496 Sat, 21 Mar 2020 21:36:18 +0000 /?p=40833#comment-726496 Sev Jensens just got out at the right time what did she know? She just could have been lucky but watch her and her party at the next election.

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By: A H Abdi /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726430 Fri, 20 Mar 2020 08:50:49 +0000 /?p=40833#comment-726430 This is the Norwegian government that’s coursing this because they only thing about the export of oil but in Norway the imports are greater than the exports, this is the Norwegian government policy. The government gets richer while the citizens are getting poorer, that’s why you se people travelling to Sweden for shopping of food. And they think they’re the one of the richest countries in the world but that’s a lie.

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By: Mark /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726416 Thu, 19 Mar 2020 23:35:41 +0000 /?p=40833#comment-726416 For some this will actually be a plus (I have a GoFundMe fundraiser in the US, for example). And it might lure tourists here when the virus crisis passes if the rate is still down. Not that I wouldn’t prefer general stability.

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By: Vivi /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726413 Thu, 19 Mar 2020 22:07:54 +0000 /?p=40833#comment-726413 It’s crazy, i thought the Norwegian Oil fund was the backbone of the country because it has such a diverse portofolio, but seeing this chart , it’s really bad.

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By: JPG G /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726403 Thu, 19 Mar 2020 18:31:33 +0000 /?p=40833#comment-726403 Its time for the central bank in Norway to sell dollars from its strategic reserves and arrest the free slide of NOK.

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By: Peter /norwegian-krone-collapses-amid-coronavirus-crisis/#comment-726394 Thu, 19 Mar 2020 14:15:13 +0000 /?p=40833#comment-726394 In reply to Pit.

@Pit Following NOK the past 10 years to me it more seems like that NOK only follows oil prices downwards, but not upwards. NOK already lost 20+ % of its value in the last 5 years, even before this current mega-fall.
I really hope they will manage to do something to make it recover; and fast.

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