News, Rumors and Opinions Thursday Morning 6-4-2020
TNT:
DinarInvestor1: The Great Reset started today, per The World Economic Forum.
https://www.weforum.org/great-reset
We’ve always been told there would be a worldwide announcement but that only the dinar investors would understand that it would mean the RV and GCR as well. A 1 hour and 20 minute video was put out today by the WEF announcing the Great Reset.
We always assumed our Treasury Secretary or President would make the announcement. In this video, you have Prince Charles making the announcement. Now of course, they’re including Covid and global warming and green energy and carbon footprints and everything else we always hear concerning the New World Order but they also speak of world economic prosperity, new technology and raising the wealth of every individual in the world.
COULD THIS BE THE GCR ANNOUNCEMENT we’ve always been told there was going to be?
in January 2021, at the next WEF, they will announce the results of the rollout of the "Great Reset of every System".
A 1 hr and 20 minute video released today with Prince Charles making the announcement about The Great Reset
Harambe: Herald: Firms refuse Zimbabwe RTGS, demand USD, cash (6/4/20)
A number of businesses, especially manufacturers, retailers and suppliers, are refusing to accept payment in local currency in preference for US dollars and cash citing persistent volatility of the Zimbabwe dollar.
The rejections by firms, among them a leading bread and biscuits maker, a furniture manufacturer and a fast moving consumer goods manufacturer that also produces soap, is likely to further dent confidence in the domestic currency barely two years since its reintroduction following a decade long hiatus.
Fears abound if unrestrained, the down spiral in the Zimbabwe dollar value may condemn the local currency to the same fate it suffered in early 2008, resulting in it being scrapped, prompting the adoption of multi-currency system, anchored by the US dollar.
Confederation of Retailers of Zimbabwe (CZR) president Denford Mutashu, acknowledged the development, saying firms claimed volatility and sliding confidence in the local unit was itsgrowing rejection.
“It (rejection of RTGS dollars) is an issue that we have picked in the market. A number of suppliers and manufacturers have opted to deal only in cash and hard currency and the concerns are around the instability of the local currency,” he said.
Mr Mutashu said there had been a growing gap between the exchange rates for RTGS dollars and cash, which has been putting unrelenting pressures on commodity prices in Zimbabwe, hence falling exchange rate and the resultant galloping inflation.
“Lack of adequate enforcement (of rules and regulations) by all critical players is complicity or regarded as complicity in what is happening,” he said.
Notably though, this comes as the Reserve Bank of Zimbabwe (RBZ) has recently tightened the screws on financial institutions and mobile money operators to institute more stringent evaluation around know your customer principles in order to flush out speculators.
Further, the apex bank has in the meantime put limits on the amount of transfers that depositors can move out of their bank accounts or mobile money wallets to reduce or foil transfers for purposes of money laundering and currency trading, which undermines the domestic currency.
“Of course, the fundamental issue is confidence because we need to apply efforts in restoration of confidence in the banking sector, especially relating to our local currency. There isn’t appreciating confidence in the RTGS money or general currency in circulation; it’s one scenario we have picked after the introduction of$10 notes,” Mr Mutashu said.
From an exchange rate of $2,5 to the US dollar on reintroduction in February last year, the Zimbabwe dollar’s electronic version has plummeted to $65 against the greenback on the black-market.
The domestic currency assumes slightly varying rates depending on its form in cash, that is notes or coins and means of electronic transfernamely ZIPIT,EcoCash, OneMoney and Telecash among others.
Economist Professor Gift Mugano said while a combination of factors had caused the local currency to lose ground against the US dollar, it’s latest free-fall was being fuelled by a mad rash for value preservation by all. But he also noted that issues such as structural deformities of the economy like lack of production, dependency on imports, limited forex generation capacity, excessive money supply growth and inflation had conspired to pile exchange rate misery on the Zimbabwe dollar.
https://www.herald.co.zw/firms-refuse-rtgs-demand-usd-cash/
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Courtesy of Dinar Guru
Pimpy ...there are a lot of reason to be excited about this month...I'm noticing that the other so-called gurus some of them are already making excuses saying...it's the riots. It's just gonna be one excuse after another. Someone asked me, 'do you think all these things are happening to prevent the exchange from changing?' I don't think one has to do with the other. But if I was Trump and I wanted to quickly squash all the rioting and get everybody happy again - make the rate change happen. That would definitely be a distraction from everything that's going on. We are in June now. We are in the summer months. We're going into the second half of the year. Trump promised us a good third quarter and even more explosive fourth quarter and a better 2021. We're all expecting the same thing and that is to see a rate change...
Keiser Report | Thucydides Trap + 4th Turning + Exorbitant Privilege | E1549
Jun 4, 2020
In this episode of the Keiser Report, Max and Stacy look at the meeting of three important trends either starting or coming to an end: Thucydides Trap + 4th Turning + Exorbitant Privilege.
As we see nation states and generations unwilling to relinquish power to make way for those rising in power.
In the second half, Max talks to Gabor Gurbacs of VanEck about the case for a bitcoin ETF and central banks hedging against themselves by buying gold.