JC Collins, Okie Oil Man TNT Tony, etc…
Tue, July 15, 2014
Subject: Dinar RV Expectations
[..okieoilman] 7-14-2014–GOOD MONDAY AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIENDS.
I HAVE JUST READ WITH AMAZEMENT ON RE-CAPS HOW SOMEONE HAD PERCEIVED HOW SOME HAD PLAYED THE HAND DEALT THEM.
THROUGH MANY YEARS YOU NOW UNDERSTAND HOW YOU CAN SERVE YOUR COUNTRY AND FELLOW MAN BY NOT ONLY BEING IN THE MILITARY BUT BY CO-OPERATING WITH THOSE WHOSE AGENDA HAS BEEN ENTIRELY HONORABLE.
SOMETIMES INDIVIDUALS ARE CALLED ON IN WAY'S THAT OTHERS KNOW NOTHING ABOUT.
SUBVERSIVE MEANS ARE SOMETIMES NECESSARY TO FERRET OUT THE CHAFF FROM THE WHEAT.
7-14-2014 Newshound Guru Stryker The Kurds have already said that they will
attend tomorrow's next session and will announce their candidate for President of
Iraq, Barham Salih. Folks, the Kurds have already said that they will not attend
these sessions unless there is a clear consensus for forming a new government so
their mere willingness to participate is the greatest sign at this point we could
have, in my opinion. On the economic front the CBI has announced yesterday that
Iraq's electronic payment system is ready along with its ability to go international
with it. …as soon as Turki is comfortable with the political situation, he
should be ready to delete the zeros from the exchange rate because it seems that he
now has all the measures in place he spoke of to implement the project. We are
getting closer each day. [post 2 of 2]
7-14-2014 Newshound Guru Stryker Iraq's political situation is ever changing and
things are really starting to get interesting in Iraq. Sunday's session in fact did
see a quorum of 233 deputies, even without the Kurds attendance. It wasn't that the
Kurds did not want to attend or because of them boycotting the session, it was due
to a sandstorm in Baghdad which closed down that airport causing the Kurdish MP's
from leaving from their airport in Erbil. Unfortunately because of differences, the
parliament members failed to name a new speaker of the house, nor its two new
deputies but yet I see it as an important step toward their willingness to form a
new government. [post 1 of 2....stay tuned]
7-14-2014 Intel Guru DC [via Adept1] In Iraq, we have folks who have agreed with
all the positions; they were supposed to make it public over the weekend. Due to
some interference by international parties (US and others), they pushed off the
announcements until tomorrow. That’s when they will announce the top three
positions and more. We are scheduled and prepped to be ready.Our understanding that
the RV will follow quickly after that. The CBI did something wonderful that is
supposed to be done at the same time as the RV. Their Qi [cards] are international
and hooked up to the international links. They have been preparing this to do it at
the same time as the RV, but they are now ahead of the game. …the US, the UN and
DC folks…are absolutely set on this RV. Everyone is ready to go, cued up, with
three different windows tonight and tomorrow. We are just waiting on those
announcements…The pressure is to get it done
7-14-2014 Intel Guru TNT Tony [via Adept1] There are great things to be excited
about. …we have told people since last winter that their Qi cards were
international. Now it’s just like their stock market and IPOs were international,
but they were using paper rather than using computers.The significance here is that
they have plugged into the Visa/MasterCard system that the rest of the world
has. [Is the VNN going with the IQN at this time?] I believe so. I didn’t think
we would make it past last week. Many powerful people thought it would go last
Monday, and we were notified accordingly. We had a similar level of notification
this week. We are confident where things are. They’ve said tomorrow in the media,
and among the politicians…
7-14-2014 Newshound Guru Millionday Article quotes: "According to a statement
of the Secretariat of the day that the General Secretariat of the Council of
Ministers announced on Tuesday an official holiday mentioning revolution of July
14…an official holiday for all state departments." this holiday is the
celebration of revolution and is a state holiday they used to have annually.
7-14-2014 Newshound Guru Stryker The Last Measure is in Place for Currency
Reform. This will enable the Governor of the Central Bank of Iraq to delete the
zeros from the exchange rate.
7-14-2014 Newshound Guru Millionday "The CBI adopted the Visa card system to
develop the financial and banking sector and to create an atmosphere of competition
among the different banking and financial establishments in Iraq." [Does this mean
it will be international banking?] yes they will be using international banking
when this is all activated through visa and its capabilities — the smart cards
will be given to citizens outside of Iraq but that are Iraqi citizens for
distribution they have coming for oil proceeds and benefits they have been approved
for when they are activated for international use — meaning they would have to also
have a plan in ink about the calculation for reality rate coming or how it is being
7-14-2014 Intel Guru TerryK Article quotes: "…Vietnam has been recommended
to apply a new foreign exchange policy which allows it to valuate the Vietnam dong
in correlation with more than one foreign currency. This will be a reasonable choice
which helps both stabilize the exchange rates and ensure the flexibility of the
nation’s policies.” “Now is the right time for Vietnam to follow the new policy, as
it now has all the necessary conditions to do this." " It’s obvious that the
Vietnamese dong is about to be revalued but how that revaluation will look on the
other side is not clearly determined." THE DONGS REVALUATION IS IMMINENT.
7-14-2014 Intel Guru Bluwolf The components and scenes in the middle east are
defecting the eyes of many, shifting the mood from lies to reality,the stage is all
set…Our reality is just a matter of well precise bank timing. Movement on all
aspects of this rv has been taken, all unsolved measures taken care of, change is in
the air. No one will speak about Iraq again, for its government is seating, it is
to go international at any moment, even maybe tonight.
7-14-2014 Newshound Gurus Shredd & tlm724 Article: "The stability of the dinar
exchange shares in maintaining the prices of goods" interesting we keep seeing this
clarification that the daash violence is not affecting the dinar. The intent is to
calm fears, especially in the investment scope I'm sure. Then, the reminder of the
wealth of Iraq…while that's certainly true, the perceptions and fears of human
kind are what need to be mitigated. Imo, that will happen very quickly once the goi
is seated and fair representation of the sects is accomplished…how long that will
take is another thing. I have a feeling it won't take long, Gov Turki has things
just where he want's them.
7-14-2014 Newshound Guru wmawhite It may very well be that the Board of
Directors of the CBI are waiting for the formation of the government regardless of
who is the PM. Have you noticed that the CBI has continued with the reforms of the
banking system…they do not sit still. Besides my thoughts/opinions about the
CBI…I too believe that the different blocs will not agree to a government if
Maliki is still there. I believe an all inclusive GOI is in their future.
[I think/hope that they are ready... get Turki a GOI and he will give us the RV.]
Agreed. [post 2 of 2]
7-14-2014 Newshound Guru wmawhite [Do you believe no RV with M
[Maliki] around?] We can only go on what the CBI has stated and if the translation
is correct, Turki made reference to when the government is decided and that is open
to translation. Does anyone really think that Iraq is going to keep to value of the
IQD at 1166 when they are going to be the richest country in the region? So if you
believe they will or they need to increase the value of the IQD, does it matter to
the CBI who is the PM? I don't think so, just my Opinion. [post 1 of 2....stay
7-14-2014 Newshound Guru Kaperoni Article: "The stability of the dinar exchange
shares in maintaining the prices of goods" Quote: "The exchange rate of the dinar
in 1220 dinars banking offices in the official exchange rate of 1166 dinars and the
price is stable, as the increase up to 2 percent represents an acceptable price and
stable, according to financial expert, the appearance of Dr. Mohammed Saleh." Glad
to see Saleh confirm the 2% spread. As well, he makes a very solid statement that
the Iraqi dinar would be considered a "hard currency" if not for the absence of
mechanisms…which to me means open the currency to the world (Article VIII) and a
new Exchange Regime (they must get off the peg and on to some sort of float)…only
currencies that float are considered "hard currencies". The last few days of CBI
news does give me more optimism about the banking system.For sure the CBI is
pressing forward to prepare for the day of Article
VIII and a new Exchange Regime. We just need the rest to fall into place.
7-14-2014 Intel Guru TerryK I CAN'T HELP BUT SIT BACK AND SMILE AS I KNOW IT'S
RIGHT HERE… ANY MOMENT.
7-14-2014 Intel Guru MarkZ All is good. I expect between now and Wed to be full
of great news.
The Dongs Revaluation is Imminent
The currency of Vietnam is called the dong and has been pegged to the US dollar for a very long time. The dong has been devalued consistently over the last 4 decades to facilitate the exportation of dollar inflation. Within the country the dollar is predominately used and loans by local financial institutions are predominately denominated in dollars. But all of this is about to change.
The Vietnam Business Forum has been working on methods of stabilizing the Vietnamese dong and its Macroeconomic Policy Working Group (MAG) has just released its recommendations and they are dramatic to say the least.
As reported by Vietnamese Dong News, the following quotes are taken from the substance of the MAG report.
“Yuan, the currency of China, the second largest economy in the world, and Vietnam’s biggest trade partner, has never gotten a foothold on the foreign exchange market in Vietnam.”
The implication from the report is why would Vietnam continue to use and peg the dong to the US dollar, who it does only marginal trade with, when in reality China is Vietnam’s largest trading partner.
“Experts: heavy dependence on US dollar not good for Vietnam.”
“The report released by MAG last week pointed out that Vietnam’s dollar-pegged foreign exchange policy has had a negative impact on its trade balance.”
This is obvious and timely. We covered the reasons for this in the post “Why the Vietnamese Dong will Reset”.
“In terms of Vietnam’s sovereign debts, its biggest creditors in 2012 included Japan (34.5 percent of Vietnam’s total foreign debts), the World Bank (28.8 percent), and ADB (15.5 percent). As such, Vietnam’s foreign debts have been valuated not only in the US dollar, but also in other hard foreign currencies, including JPY, SDR and EUR.”
Of course the SDR is the mechanism by which most sovereign debts will be restructured. Debt will be consolidated and packaged as SDR bonds.
“MAG’s experts commented that it is unreasonable for Vietnam to follow a dollar-pegged foreign exchange policy, while its trade and foreign debts depend on other foreign currencies.”
With China being Vietnam’s largest trading partner we can assume which currency is being referred to here.
“Therefore, Vietnam has been recommended to apply a new foreign exchange policy which allows it to valuate the Vietnam dong in correlation with more than one foreign currency. This will be a reasonable choice which helps both stabilize the exchange rates and ensure the flexibility of the nation’s policies.”
The operative phrase in the quote is “a new foreign exchange policy”. As stated, it is likely that the dong will be pegged to a basket of currencies. Which baskets now exist outside of the Euro and the SDR? None. But with the announcement of the BRICS Currency Market Stabilization Fund this week and its $100 Billion injection from the BRICS countries, it is possible and probable that the BRICS currencies will form a stabilization basket from which other currencies, like the ones belonging to the Next Eleven countries, of which Vietnam is a member, can peg too and stabilize.
“Now is the right time for Vietnam to follow the new policy, as it now has all the necessary conditions to do this. Vietnam has wide economic openness, but it not depend on any one trade partner.”
The right time is strongly implying imminence. The BRICS Development Bank and the currency market stabilization fund are vital components of the policy being described by MAG.
“Therefore, if it were to apply the policy, Vietnam would be safe from the shocks in other foreign currency markets, if and when they occur.”
This statement is suggesting sudden and dramatic adjustments to the foreign currency markets, which is likely focused on the US dollar and the coming changes to its status as the world’s primary reserve currency.
At this point I would recommend readers to revisit the following posts:
Why the Vietnamese Dong will Reset
Vietnam Seeks Dong Stability as Dollar Nears Collapse
The American Dollar is Dumping Vietnam
A Global Currency Reset
The New Exchange Rate System
And the whole SDR’s and the New Bretton Woods series, especially Part Three, sub-titled The Real Global Currency Reset.
It is almost surreal that what we have been describing from the beginning is now taking place. The world is on the verge of huge and dramatic changes.
The BRICS currency basket will eventually be integrated into the larger macro SDR basket, most likely at the end of the year when the 2010 Code of Reforms are finally passed and the Executive Board of the International Monetary Fund is restructured. This fits perfectly with what we have described as the local currencies of countries consolidate into regional currency groups which will then make up the SDR supra-sovereign basket. See the post “The Arcane SDR Supra-Macro Asset”.
The US dollar continues to be isolated around the world and the critical stage of actualization for major adjustments to the currency markets has arrived.
And for those who continue to propose that the BRICS Development Bank will compete directly with the World Bank and IMF, you will be severely disappointed when these organizations begin to announce macro financial agreements. I’ve already discussed how the World Bank has expressed its full support for the BRICS Development Bank in the post The Emerging Multilateral.
The World Bank is also openly supporting Vietnam’s policy group and mandates, as described here. Be sure to read the full article as the World Bank describes how China’s oil rig being placed in Vietnam’s Economic Zone has had no negative effects.
Additionally, the World Bank’s President will be visiting Vietnam on July 16th and 17th to strengthen the partnership. These are the same dates as the BRICS summit from which the official announcements of the New Development Bank and Currency Stabilization Fund will be made.
And as we’ve explained already, the World Bank has offered its full support for the BRICS Bank. This is not a coincidence and is making it increasingly challenging for those who attempt to convince us that their are two opposing sides to the economic reset taking place.
Its obvious that the Vietnamese dong is about to be revalued but how that revaluation will look on the other side is not clearly determined. Those who have dreams of getting rich from the dong reset may in fact see some sort of upside but it is just as likely that capital flow restrictions could very well hamper some of this.
Much is known, as can be attested from the above information, but there still remains large components of this financial reset which have been well hidden. But let us not forget those around the world who have suffered tremendously under the past imbalances, none more so than the Vietnamese people themselves, who have shown strength and perseverance through decades of war and economic sanctions. The fact that they have modernized faster than any other country in the world is a testament to the power of the human heart and mind. – JC