"World To Abandon US As The Dollar Crumbles" Alasdair Macleod
World To Abandon US As Dollar Crumbles | Alasdair Macleod
Liberty and Finance: 12-22-2022
The rest of the world is catching on to the easy monetary policy of the West.
The BRICS nations are developing a new reserve currency that is likely to be backed by commodities and possibly gold.
If this BRICS currency emerges, this is bad news for the West and the U.S. dollar, says Alasdair Macleod, head of research at Gold Money.
World To Abandon US As Dollar Crumbles | Alasdair Macleod
Liberty and Finance: 12-22-2022
The rest of the world is catching on to the easy monetary policy of the West.
The BRICS nations are developing a new reserve currency that is likely to be backed by commodities and possibly gold.
If this BRICS currency emerges, this is bad news for the West and the U.S. dollar, says Alasdair Macleod, head of research at Gold Money.
MarkZ and Michael Cottrell Thursday Morning Chat 12-22-2022
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Thursday Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and Merry Christmas Patriots
Member: Happy Holidays to all who join and appreciate Mark and this room.
Member: George Washington crossed the Delaware on Dec. 25th for a crucial battle against the Hessions to raise the morale of the army and and encourage enlistment of the Continental army from colonial patriots.
MZ: And it was effective too. The army had frostbite, toes freezing off….thank you for sharing that piece of history.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Thursday Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and Merry Christmas Patriots
Member: Happy Holidays to all who join and appreciate Mark and this room.
Member: George Washington crossed the Delaware on Dec. 25th for a crucial battle against the Hessions to raise the morale of the army and and encourage enlistment of the Continental army from colonial patriots.
MZ: And it was effective too. The army had frostbite, toes freezing off….thank you for sharing that piece of history.
MZ: Not a whole lot of news today….we do have a few articles out of Iraq.
MZ: Some private banking contacts are very excited that hopefully we will get announcements before the end of the year.
MZ: Another private banking contact expects everything to be “COMPLETED” by Jan 15th for them.
MZ: Mr. C still has not been paid…..he will be with us today
MZ: in Iraq there is a number of articles about electronic payment systems for exchanges. And exchanges of currencies…..exchange rate. The rate has not changed yet…but a lot of articles talking about it.
Member: Is anyone else sick of this delay or whatever you want to call it???
Member: I believe most of us are in that group…..wish something good would happen soon.
Member: Simon Parkes said that we would have until January 31 to turn in our fiat currency for the new Gold backed currency--does he know something?
Member: Simon Parkes also said this is the LAST horrible Christmas we have to spend under the old, corrupt system....which hinted that there has been a delay in launching it before Christmas
Member: What happens if the storms hit and we cannot get to redemption centers?
MZ: Don’t worry about that….the storm won’t last a whole month.
Member: Wouldn't it be interesting if we got EAS saying "The storm is upon us"? during this big storm?
Member: another "truther" says EBS Sunday...pretty adamant
Member: I heard there are no codes to enter if the Dinar floats.
MZ: Yes…..there are no codes entered by Mr. C if the currencies float.
Member: When its time will you exchange at a bank or redemption center?
MZ: When its time- absolutely I will be going to an exchange center. 100%
Member: Rumor? If we redeem any notes ,we cannot redeem any of other currency. Dinar Recaps post
MZ: Total BS….imo
Member: What if we refuse to sign the NDA at our appointments?
Mod: IF YOU DO NOT SIGN NDA YOUR APPT WILL END WITHOUT EXCHANGING/REDEEMING.
Member: what is your honest gut feeling on the GESARA / NESARA Going all the way the same time as the RV?
MZ: I still hear they will happen at the same time. If they don’t we will have to circle the wagons and make some serious plans…….
Member: How many Christmas's have we done this? I'm growing weary
Member: With everything going on…..I was sure this year was going to be different……
Member: Today at 11:11am on 12/22/2022 seems like a lucky day nothing this lucky until the year 2222
Member: All I want for Christmas is for an end to the senseless war, Truth to the normies, health, safety for the world.
Member: So sick of waiting for sleepers to wake up while we continue to suffer
MZ: Nobody needs to tell me we are still waiting for sleepers to wake up…..I am done buying that game. If they are not awake now…I don’t think they will ever wake up.
Member: I think anyone still asleep …..will never wake up now…they are in a coma.
Member: Tom Petty was right.... " The waiting is the hardest part "
Member: They have all the evidence to do it NOW! The question is, what is the hold up?!!
Member: Something is in the air and I can't wait for this to happen. So much brokenness out there to share our new wealth with.
Member: I believe the RV is upon us and approaching in a matter of hours. Keep the faith up and your eyes and ears open!!!
Member: Join me in praying the RV in! Only God can move this to the point where it actually happens
Member: What do you call a broke Santa? Saint Nickel-less
Member: Last night my 3 yr old granddaughter was asked what she wants Santa to bring. She says “all the presents!” Need RV…
Member: Thanks everyone for the news…..and rumors….hoping something big happens “suddenly”
Member: Hoping everyone stays safe during the crazy storm. Stay warm and stay home…..
Mr. Cottrell joins the stream at about minute 15:00. Please listen to the replay for his opinions.
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
The next stream is tomorrow at 10AM est…..unless.
MARK HAS BEEN INVOLVED IN THIS FOR MANY YEARS FROM THE HISTORY AND MADE MANY CONTACTS WORLDWIDE. HE RESPECTS EACH OF THEM AND PROTECTS THEIR PRIVACY. HE VERIFIES INFORMATION BEFORE HE SHARES YET THINGS CHANGE AND IT IS NOT IN HIS CONTROL.
THE INFORMATION PROVIDED IN THE STREAM IS IN MARKZ OPINION - INFORMATION PROVIDED IS BY VETTED CONTACTS - INFORMATION CAN AND MAY CHANGE AT ANY TIME WITH OR WITHOUT NOTICE
MZ: Zim payouts I hear may be traunched…..a structured payout over time…….What is a traunch? https://www.investopedia.com/terms/t/traunch.asp
MZ: JFK Secret Societies Speech in case we forgot https://www.youtube.com/watch?v=ItOPg2l7-t0
JFK to 911 Everything Is A Rich Man's Trick https://www.youtube.com/watch?v=8ObvK4NR_LI&has_verified=1&bpctr=1579044401
Your straw man (Strawman) is an artificial person http://freedom-school.com/aware/your-straw-man-is-an-artificial-person.html
MZ: Video on PP’s and Farm claims: https://www.youtube.com/watch?v=sAL0exvL45Y
Mod: Dr Shabibi answering questions https://www.youtube.com/watch?v=ol8wve53-ME
MZ: Watch the Video “The end of the road” by Monkey films on Amazon Prime….End of the Road: https://tubitv.com/movies/451883/end_of_the_road
You can share links like these one's to those who don't believe: theoriginalmarkz: https://www.slideshare.net/ahmeddinargate/the-history-of-iraqi-dinar-exchange-rate
Mark Coffee and Chat …. Monday through Friday 10:00 AM EST EDT ….Chats live or recorded https://www.twitch.tv/theoriginalmarkz ONLY SPECIAL NEWS tweeted out https://twitter.com/originalmarkz
MARKZ and SALTY TOES have worked hard to build a COMMUNITY that people can trust. You can connect with MarkZ at The Seeds of Wisdom Team Community and website. Just visit the Seeds of Wisdom Team Website, join the Seeds of Wisdom Telegram Community, and Subscribe to receive email updates. https://seedsofwisdomteam.com/
Follow Mark on odysee ( formerly known as library) at https://odysee.com/@theoriginalmarkz:e
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
"Tidbits From TNT" Thursday AM 12-22-2022
TNT:
Tishwash: International agency: Iraq will lose 80 percent of the fiscal surplus over the next year
The Fitch Ratings agency suggested that Iraq's fiscal surplus will decline next year, compared to 2022, as the figures show the possibility of its decrease by 78%.
The agency stated that “Iraq’s budget surplus will rise to about 10% of GDP in 2022, supported by increased oil revenues,” expecting that “the surplus will be much lower in the 2023 budget at 2.2% of GDP.”
And the agency classified Iraq at the B- rating, pointing out that “the B- rating reflects the heavy dependence on primary commodities, weak good governance, political risks, and the lack of development of the banking sector,” according to Reuters.
It noted that the B- rating is balanced by large foreign exchange reserves and low interest costs on government debt.
TNT:
Tishwash: International agency: Iraq will lose 80 percent of the fiscal surplus over the next year
The Fitch Ratings agency suggested that Iraq's fiscal surplus will decline next year, compared to 2022, as the figures show the possibility of its decrease by 78%.
The agency stated that “Iraq’s budget surplus will rise to about 10% of GDP in 2022, supported by increased oil revenues,” expecting that “the surplus will be much lower in the 2023 budget at 2.2% of GDP.”
And the agency classified Iraq at the B- rating, pointing out that “the B- rating reflects the heavy dependence on primary commodities, weak good governance, political risks, and the lack of development of the banking sector,” according to Reuters.
It noted that the B- rating is balanced by large foreign exchange reserves and low interest costs on government debt.
Observers translate the fiscal surplus in order to reach a clearer picture of the size of the decline, as the decrease in the surplus from 10% of GDP in 2022 to 2.2% of GDP in 2023 means that the surplus will decrease by 78% next year.
Iraq's gross domestic product is more than 200 billion dollars, which means that the surplus during 2022 amounted to more than 20 billion dollars, but in 2023 the surplus will reach only 4.5 billion dollars, which is a decrease of 78%. link
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Tishwash: Kurdistan government cancels New Year's celebrations - Urgent
The Kurdistan Regional Government announces the cancellation of New Year's celebrations due to the incidents of gas leak explosions and announced that it will not stop the activities and celebrations on this occasion link
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Tishwash: The President of the Republic: Iraq is currently going through a period of political and security stability
President of the Republic Abdul Latif Jamal Rashid confirmed today, Thursday, that Iraq is currently going through a period of political and security stability.
The media office of the Presidency of the Republic said, in a statement received by Alsumaria News, that "the President of the Republic received at the Baghdad Palace a delegation from the Al-Rafd Center for Media and Strategic Studies, headed by the Director of the Center, Dr. Abbas Al-Jubouri
He added, "During the meeting, the overall political situation on the Iraqi and international arenas was discussed, as the President of the Republic affirmed that there is a universal welcome to the formation of the government by the international community, which demands that Iraq have a major role in many issues."
The President of the Republic indicated that "strategic studies centers should study the various public issues in an integrated manner, with a focus on local issues, suggesting that the media and analysis centers monitor the negatives to correct them and highlight the positives for their development and to convey the true picture about the growing stability in Iraq."
He explained: "We believe in a strong Iraq in terms of democracy and its economic and service approach," explaining that: "Iraq is for everyone, and it is our duty to strengthen it."
The President of the Republic spoke about the displaced and displacement centers, indicating the importance of the work of the analysis and media centers in showing the bad conditions in which they live in order to expedite finding appropriate solutions and returning them to their areas after their rehabilitation and reconstruction.
Rashid also explained that "Iraq is currently going through a period of political and security stability, and the media must convey this positive image to the world, which will facilitate attracting investments to support the economy."
In turn, the members of the delegation thanked the President for the warm reception, expressing their belief that the President of the Republic is the protector of the constitution and he is the one who preserves the unity of Iraq. His Excellency, through his patriarchal role, intervened to resolve all outstanding issues, wherever they may be, between the people of the same country. link
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Tishwash: Iraqi chambers of commerce make proposals to end the "daily massacre" of the dollar in the market
The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, presented, on Thursday, proposals to stop the rise in the exchange rate of the dollar against the local currency, considering at the same time that the volume of currency auction sales to the Central Bank is not commensurate with the amount of goods traded in the market.
Al-Zuhairi said in a statement today that the volume of currency auction sales is not commensurate with the quantity of goods traded in the market, and the estimate of the actual need of the market does not exceed half of the amount that is sold daily in the currency auction.
He added, "The recommendations were listened to, and we found the brave man who can stop this massacre through some simple decisions, including not paying the tax on dollar sales, which means that the merchant has the right to transfer the purchase invoice through Iraqi banks and in Iraqi dinars if he wishes."
Al-Zuhairi explained, "This decision will be implemented at the beginning of next year, and in the coming days, the Iraqi currency will be available in the banks," adding, "There are decisions that we hope will be taken so that we can end this daily massacre of the dollar."
The head of the Federation of Iraqi Chambers of Commerce suggested "diversifying the foreign currency commodity within the central bank and not remaining a monopoly of the dollar only, the strict monitoring by the Federal Bank on the movement of the dollar from Iraqi banks to intermediary banks."
He concluded by saying that by applying these proposals and decisions, the sale of the currency auction would decrease from 200 million and more to 66 million. link
CandyKisses: WHO ATE THE COOKIES?
Mot: ~~~~ the BIG Reveal!! ~~~
News, Rumors and Opinions Thursday Morning 12-22-2022
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Thurs. 22 Dec. 2022
Compiled Thurs. 22 Dec. 2022 12:01am EST by Judy Byington
Summary of Recent GCR Intel from Two High Up Sources, plus MarkZ and Bruce:
Mon. 19 Dec. High Up Source #1: “This week Dubai 1 will see completion with funds access to select Elders and Governments. We also will see Dubai 2 release and funds access to select sovereign buyers and the Master Accounts. In addition, we will start the recovery program exchanges for certain categories of specific assets such as the German Bonds, Yellow and Red Dragon Bonds , Golden Gun boxes and other specific assets in Key locations of Zurich, Miami and Reno.”
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Thurs. 22 Dec. 2022
Compiled Thurs. 22 Dec. 2022 12:01am EST by Judy Byington
Summary of Recent GCR Intel from Two High Up Sources, plus MarkZ and Bruce:
Mon. 19 Dec. High Up Source #1: “This week Dubai 1 will see completion with funds access to select Elders and Governments. We also will see Dubai 2 release and funds access to select sovereign buyers and the Master Accounts. In addition, we will start the recovery program exchanges for certain categories of specific assets such as the German Bonds, Yellow and Red Dragon Bonds , Golden Gun boxes and other specific assets in Key locations of Zurich, Miami and Reno.”
Wed. 21 Dec. MarkZ: “Reports out of Europe and one from Asia say that Bond Holders have received a “down payment” on their expected funds – not from a “reseller” but from an actual bond transaction…. Many different sources such as military, banking, bond and a paymaster from different cities and county locations that are not affiliated with each other, all have expectations for a revaluation announcement within the next few days. …Talks between Iraq Federal and Kurdistan regions over the 2023 budget have been fruitful so far. I am told once they finalize that we are hours away from a value change.”
Tues. 20 Dec. Bruce: “Yellow, Gold and Red Dragon Bonds were released to Bond Seller accounts at noon EST Tues. 20 Dec. German Bonds were released at 7-8 pm EST Tues. 20 Dec. into accounts of German Bond Sellers. Bond Holders received liquidity on Tues. 20 Dec. and would have access to their monies on Wed. 21 Dec.”
High Up Source #1: “This week will see a phase in of currency assets such as the Iraqi Dinar, Zimbabwe Notes and other currencies. … Iraqi citizens were celebrating their revaluation according to domestic News Announcements. …We are hopeful that Tier 4B will see results of the above phases just before or after Christmas.”
Wed. 21 Dec. MarkZ: “Redemption Center personnel expect to be on call over the holiday weekend. They are not scheduled for active work yet.”
High Up Source #1: As the above phases are completed, the end results will lead to the second phase in March of the General RV which will last up to five years and affecting all of humanity. The balance of all other assets will fall into that process.
Bruce: There will be no structured payouts for Tier4B.
White Hat Intel for Wed. 21 Dec. 2022:
White Hats in China purposely collapsed their economy and seized assets, while at the same time, Switzerland Rothschilds hid their own money. World Elites pulled their billions connected to millions of investors pulling their money from stocks, world trading that connected to trillions.
The EXPOSURE of The United States Treasury and Bonds is a huge part of The PLAN as the Deep State and their entities cannot pay the high interest, which connects to the collapse of Banks.
Read full post here: https://dinarchronicles.com/2022/12/22/restored-republic-via-a-gcr-update-as-of-december-22-2022/
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Courtesy of Dinar Guru
Walkingstick [via Frank26] The international platforms have replaced the auctions at the CBI. Once the IQD starts to go International in a basket it is automatically canceling the CBI auctions where Iran was siphoning Iraq's blood through their currencies. The only swap from now on will be with the US dollar...no more auctions. It will be a governing function instead.
Frank26 Article: "The Central Bank's measures deepen the dollar crisis and extend American hands to create unrest" THE CBI REMOVES CORRUPTION & NEUTRALIZES THE AUCTIONS! The auctions are gone...it is important for you to understand this principle...the auctions were given to the CBI for what reason? So Iraq could take the oil that they sell in American dollars and convert it into Iraqi dinars so they can run their country but they didn't. They took the money that came in as American dollar for oil and instead of going in the right direction, they evil ones, took it...straight to Iran...
The 3 Largest Central Banks Have BEGUN Crashing & SELLING Off These U.S Treasuries | Lyn Alden
Two dollars investing: 12-21-2022
Japan Surrenders To Inflation - This Pivot Could Trigger A Global Bond Crisis
Sean Foo: 12-22-2022
The Bank of Japan has 'shocked' the world with a sudden pivot to their monetary policy, they are now tightening and hiking rates.
This new hawkish stance is a direct consequence of their ultra-low rates for too long which has caused inflation to get out of control.
But Japan's rate hikes could crash the dollar and cause a lot of pain for the global bond market. Here's what you must know!
Cash, Gold and Hyperinflation Q&A With Lynette Zang
Cash, Gold & Hyperinflation Q&A with Lynette Zang from ITM Trading
12-21-2022
Viewer Questions:
Question 1: 0:46 How do you figure the true value of gold if the true amount of debt is unknown? For example the foreign exchange derivatives “unknown” or “estimated” total.
Question 2: 4:31 With the possibility of a gold confiscation by the government, do you believe the pre-1933 gold could be changed to a later cutoff year for consideration to not be confiscated, ie, pre-1980?
Question 3: 9:19 If the end of hyperinflation results in a dollar with ZERO value how will physical assets, stocks, real estate and precious metals be valued? How will people purchase goods?
Cash, Gold & Hyperinflation Q&A with Lynette Zang from ITM Trading
12-21-2022
Viewer Questions:
Question 1: 0:46 How do you figure the true value of gold if the true amount of debt is unknown? For example the foreign exchange derivatives “unknown” or “estimated” total.
Question 2: 4:31 With the possibility of a gold confiscation by the government, do you believe the pre-1933 gold could be changed to a later cutoff year for consideration to not be confiscated, ie, pre-1980?
Question 3: 9:19 If the end of hyperinflation results in a dollar with ZERO value how will physical assets, stocks, real estate and precious metals be valued? How will people purchase goods?
More News, Rumors and Opinions Wednesday Afternoon 12-21-2022
KTFA:
TishWash: America's papers are burning in Iraq.. The people's "dreams" await investigation, while Washington stands by
It is no secret to anyone the role that America plays through its many tools in Iraq since the formation of the new government to the present day. Attempts to stand by al-Sudani and provide adequate support may be more like "poisoning with honey" and mere international positions that "do not fatten or enrich", so it is not reasonable. For Washington to stand by Baghdad, especially after the formation of a government that does not conform to its orientations.
The “papers” of the White House in Iraq may be many and varied, as it knows very well that placing a tool for it in every detail of the country, whether it is economic, political, local or security, will benefit it one day, especially since the government will not fall in a “single blow.” This prompts it to activate all "press buttons" to thwart its "service" program.
KTFA:
TishWash: America's papers are burning in Iraq.. The people's "dreams" await investigation, while Washington stands by
It is no secret to anyone the role that America plays through its many tools in Iraq since the formation of the new government to the present day. Attempts to stand by al-Sudani and provide adequate support may be more like "poisoning with honey" and mere international positions that "do not fatten or enrich", so it is not reasonable. For Washington to stand by Baghdad, especially after the formation of a government that does not conform to its orientations.
The “papers” of the White House in Iraq may be many and varied, as it knows very well that placing a tool for it in every detail of the country, whether it is economic, political, local or security, will benefit it one day, especially since the government will not fall in a “single blow.” This prompts it to activate all "press buttons" to thwart its "service" program.
The leader of the State of Law, Wael al-Rikabi, confirmed that America uses many pressure cards to pressure the current government in order to agree to its demands, while stressing that the terrorist attacks represent one of these cards to prevent the country from developing and turning to China.
The leader of the coalition, Wael al-Rikabi, said in an interview with the information agency, that "Washington has several cards that it tries to use whenever the country reaches a point of preserving its prestige and seeking to achieve its interests," noting that "the White House's papers in Iraq are many, including Washington's ambassador." Baghdad and its suspicious movements, but the Iraqi government will not easily pay these cards.
And he added, "The other card that America has is represented by the terrorist ISIS gangs and the terrorism file and bringing criminals into the western and northern regions, as happened with the recent attacks in Tarmiya, Salah al-Din and others."
The leader in Maliki's coalition explains, "The other thing is the inclination of some political parties to it," pointing out that "all these cards represent basic pillars for Washington to use whenever it wants."
And it shows, "America is trying to use these cards to put pressure on the Sudanese government to respond to its demands and not to turn towards China and move away from it."
* Cloak of Evil
Iraq’s exit from Washington’s mantle and heading towards another camp may offer it a lot, an idea that the White House does not like at all, and destroying it is necessary, especially since the opposite side is its first economic enemy, which is China, and it may be considered a source of concern by the Sudanese government to the US administration, according to the expert. Security, Aqil Al-Taie.
Al-Taei mentioned in an interview with Al-Maalouma Agency, that "Washington's interests in Iraq are threatened under the Sudanese government, which has worried the US administration and Washington's ambassador with his recent moves."
And he points out, "The terrorist gangs in Iraq have returned to their activities, returning to using malicious cards and relying on smuggling security forces based on directions from US President Biden to break what the new government is trying to build."
* Transition to date
Iraq's transition from the western camp towards the east may be for it the "opportunity of a lifetime" to achieve what the country aspired for after 2003, which will bring about a qualitative transition for it at all levels and in a short period of time, according to the leader of the Fatah Alliance, Aed al-Hilali.
In an interview with Al-Maalouma, Al-Hilali said, "The Sudanese government is trying to work to create a balance in contracts between the eastern and western camps in order to fulfill the dream of the Iraqis in achieving prosperity for the country in all aspects," stressing that "the Sudanese government's going to the eastern camp will bring about its transition." Quality at all levels and in a short period of time.
He states, "Iraq now needs continuous work at competitive prices, and this is what the Chinese agreement now offers, which is still offering many projects to Iraq."
Al-Hilali continues, "Most of the contracts that were contracted with in the Western camp did not succeed, and many corruption deals appeared in them," adding that "contracting with the West means charging Iraq twice the cost that China accomplishes with the same capabilities."
The opportunity of a lifetime for the Sudanese government may face enormous dilemmas and international risks, most notably Washington's objection to the idea of leaving Iraq from under its hands and handing it over with a "platter of gold" to its enemies according to its point of view, which believes that it is the legitimate ruler and the first guardian of Mesopotamia, but the popular will and the power of the government, despite The Americans' "traps" and their "malignant" cards may bring about a "transition" that can only happen with "dreams." link
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Tishwash: After a "golden" year... Iraq's fiscal surplus will decrease by 78% in 2023
Today, Wednesday, the Fitch Ratings agency expected that Iraq's fiscal surplus will be lower in 2023 compared to 2022, as the numbers show the possibility of its decrease by 78%.
And the agency classified Iraq at the B- rating, indicating that "the B- rating reflects the heavy dependence on primary commodities, weak good governance, political risks, and the lack of development of the banking sector," according to Reuters.
Fitch Ratings stated, "Iraq's budget surplus will rise to about 10% of GDP in 2022, supported by the increase in oil revenues."
It said it expected a much smaller surplus in the 2023 budget, at 2.2% of gross domestic product.
It noted that the B- rating is balanced by large foreign exchange reserves and low interest costs on government debt.
(Baghdad Today) translated the agency’s figures on the fiscal surplus to reach a clearer picture of the size of the decline, as the decrease in the surplus from 10% of GDP in 2022 to 2.2% of GDP in 2023 means that the surplus will decrease by 78% next year. .
Iraq's gross domestic product is more than 200 billion dollars, which means that the surplus in 2022 amounted to more than 20 billion dollars, while in 2023 the surplus will reach only 4.5 billion dollars, which is a decrease of 78%. link
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Courtesy of Dinar Guru
Frank26 Article: "Launching the first electronic platform for financial trading via the Internet" THEY TOLD [Boots on the ground Firefly] WHEN WE SIGN THE HCL WITH THE KURDS... THE IRAQI DINAR WILL FLOAT INTERNATIONALLY! ...when it floats it's 'pairing'... What is the CBI trying to tell the citizens of Iraq? Your currency is about to leave its borders, de-peg from the American dollar [and] pair within a basket... Quote: "The online trading system for the shares of Iraqi joint-stock companies will be launched - for Go Life investors, starting from the session on Sunday 1/29/2023," ... that means it's going to float.
Mnt Goat ...January is upon us and the CBI will have the 31 days to reinstate starting on Jan 1st the clock will tick, tick tock, tick tock. If not, they will miss yet another window of opportunity to RV this time and the saga continues...
EU Opposes U.S. Policy and Sanctions U.S. Companies
Deepin Moments: 12-21-2022
In the face of personal interests, the U.S. can not care about friendship, or rather, allies are the target of the U.S. "squeeze", of course, the U.S. will point the finger at the EU, the EU will not sit idly by.
The U.S. "Inflation Reduction Act" is simply aimed at the de-industrialization of Europe, in order to save the future of the EU, France and Germany once again joined forces to counter the United States.
Not long ago, the French and German finance ministers issued a joint statement, claiming that European products should receive tax credits just like American products. It seems that France and Germany are planning to do the same thing to others.
Central Banks Are About To VASTLY INCREASE Their Issuance Of Debt. BE READY FOR IT!
Greg Mannarino: 12-21-2022
Mike Maloney and Bix Weir Wednesday 12-21-2022
Mike Maloney
COLLISION COURSE or Soft Landing?
J oin Mike Maloney as he examines whether there is any way out for Jerome Powell - is a ‘soft landing’ achievable?
Or are we on a direct collision course with an unpredictably bad economic catastrophe?
Mike Maloney
COLLISION COURSE or Soft Landing?
J oin Mike Maloney as he examines whether there is any way out for Jerome Powell - is a ‘soft landing’ achievable?
Or are we on a direct collision course with an unpredictably bad economic catastrophe?
ALERT! If We Use SILVER as Money "Non Mint Issued" Silver May Have to be Nationalized!!
(Bix Weir) 12-21-2022
There's many unanswered questions about the New Monetary System.
Gold and Silver will be the leading contenders when the derivative bubble pops but WILL NON-MONETARY SILVER BE ILLEGAL TO OWN?!
"Coffee with MarkZ" Wednesday Morning Chat 12-21-2022
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Wednesday Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: GOOD TO SEE YOU ALL! MERRY CHRISTMAS!!
Member: Winter Solstice - winter begins 12.21.22… Dark to Light begins today!
Member: yes…we are all disappointed for no RV before Christmas….but there is still a chance it could happen before the next year starts on Jan 1!!!
Member: Hey, wait, what is that sound. I think I hear the RV train a coming. A coming down the tracks,
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Wednesday Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: GOOD TO SEE YOU ALL! MERRY CHRISTMAS!!
Member: Winter Solstice - winter begins 12.21.22… Dark to Light begins today!
Member: yes…we are all disappointed for no RV before Christmas….but there is still a chance it could happen before the next year starts on Jan 1!!!
Member: Hey, wait, what is that sound. I think I hear the RV train a coming. A coming down the tracks,
MZ: Its good to be back……..Lets dive into what we are hearing out of Iraq right now….Talks between Iraqs Federal and Kurdistan regions over the 2023 budget have been fruitful so far…..I am told once they finalize that we are hours away from a value change.
MZ: “USD/IQD Rate surges in Baghdad” We are watching real time changes in value which to me is very key because they are going to change how the peg worked right before the revaluation as well. We are seeing a couple signs that I was told to look for…..
MZ: From the redemption center side –at this point they expect to be on call over the holiday weekend. ….they are not scheduled yet for active work.
MZ: On historic bonds…..i am getting more reports out of Europe and one from Asia that they have received a “down payment” on their expected funds…..not from a “reseller” but from an actual bond transaction……I am very encouraged by that. I would be even more encouraged when we get our announcements…..
MZ: Contacts in Reno have been exceptionally quiet. They have done a wonderful job shutting down intel coming out of Reno…..Its easy to talk to them….they just wont share any intel…..Once they have been paid and under an NDA……they wont talk at all. .
Member: Well from this view and what has been said looks like the rich are getting richer again. I would love 1% of my holdings
Member: Isaac says no Liquidity anywhere
Member: I am worried it will not be done by Christmas.
MZ: That is still the goal. Rumors are the expectations for announcements are within the next few days. I have heard this for so many Christmases though……I am hesitant to share it with you all. But I have never before heard it from so many different sources that are not affiliated with each other….From military sources banking sources, bond sources, a paymaster source……all from different cities locations and countries…There really is so much coming together at one time…..
MZ: I am optimistic and excited but will not allow myself to play that roller coaster game.
Member: Even “The boy who cried wolf” was right once……maybe these rumors will finally be right this week.
Member: I wonder if we are still expecting all currencies and bonds to go together?
MZ: In other news: “Zimbabwe has banned the export of unprocessed raw lithium. “ This country has the largest lithium reserves in Africa. Lithium has surged over 1100% over the last 2 years. This is a good thing for Zimbabwe.
MZ: “Wells Fargo ordered to pay $3.7 Billion over widespread illegal activity” Bank of America was also ordered to pay $1.7 Billion…..makes me feel all warm and fuzzy about exchanging there….but I have heard HSBC is now in charge of exchanges. Wells Fargo is now secondary –is what I have heard.
Member: only 2 more days banks are open before Christmas……..maybe we can just make appointments before Christmas and then exchange after……I’m good with that.
Member: Bank of Japan just started the bond market dominoes cascading... Mr. Pool foreshadowed it All. Liquidity Crisis? Ripple/XRP to the Rescue BoA wants that beautiful ODL.
Member: Bruce stated bond holders getting $180k and on hold awaiting T4b redemption start
Member: I did listen to Bruce on the big call last night and he said at the redemption Center they're going to have a sign up sheet for the med beds if you have a disease or something wrong with you praise G
Member: I heard that no one is to have liquidity until 4B get paid. That's what we've always been told…...Wonder what is really true?
Member: I really wish we knew if Iraq was going to float its rate…..or RV/RI……sure would help with planning ….
Member: If there are any white hats…..I sure wish they would do something….anything.
Member: the way I look at it is the PTB have a much wider view than we do. they're looking at the whole picture, and not at the microcosm that we see.
Member: Good Morning... is this cold across the country part of the Cabals way of freezing us out? Or could it be a God cleansing? Let's pray for the latter
Member: Looks like a lot of the world is about to see some very cold snowy weather
Member: It seems that so many of you don't have to just dream of a White Christmas this year!
Member: I really wanted a “Green Christmas” and RV this year…….sigh
Member: Keep the faith….there are still a couple days left for that to happen.
Member: KIM CLement Says "I Wil Make them Happy In Winter!" Today is the !st Day Of Winter!!!!!!
Member: All I want for Christmas is... not my two front teeth but the RV!!
Member: I feel at peace regarding the RV. I have decided to be thankful for what I have. God has blessed me in so very many ways. He will soon allow me to bless others. Merry Christmas All!
Member: This is the season of Miracles…..praying this year the RV will be ours!!!
Member: Don't forget the meteor shower tonight and Happy Solstice!!!
“THE INFO IN THIS PODCAST IS FOR GENERAL INFO & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY.
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THANK YOU ALL FOR JOINING. HAVE A BLESSED DAY! NO EVENING PODCAST! MARK WILL BE TRAVELING! TAKE CARE ALL!
Next scheduled stream is tomorrow at 10 AM est……unless.
MARK HAS BEEN INVOLVED IN THIS FOR MANY YEARS FROM THE HISTORY AND MADE MANY CONTACTS WORLDWIDE. HE RESPECTS EACH OF THEM AND PROTECTS THEIR PRIVACY. HE VERIFIES INFORMATION BEFORE HE SHARES YET THINGS CHANGE AND IT IS NOT IN HIS CONTROL.
THE INFORMATION PROVIDED IN THE STREAM IS IN MARKZ OPINION - INFORMATION PROVIDED IS BY VETTED CONTACTS - INFORMATION CAN AND MAY CHANGE AT ANY TIME WITH OR WITHOUT NOTICE
MZ: Zim payouts I hear may be traunched…..a structured payout over time…….What is a traunch? https://www.investopedia.com/terms/t/traunch.asp
MZ: JFK Secret Societies Speech in case we forgot https://www.youtube.com/watch?v=ItOPg2l7-t0
JFK to 911 Everything Is A Rich Man's Trick https://www.youtube.com/watch?v=8ObvK4NR_LI&has_verified=1&bpctr=1579044401
Your straw man (Strawman) is an artificial person http://freedom-school.com/aware/your-straw-man-is-an-artificial-person.html
MZ: Video on PP’s and Farm claims: https://www.youtube.com/watch?v=sAL0exvL45Y
Mod: Dr Shabibi answering questions https://www.youtube.com/watch?v=ol8wve53-ME
MZ: Watch the Video “The end of the road” by Monkey films on Amazon Prime….End of the Road: https://tubitv.com/movies/451883/end_of_the_road
You can share links like these one's to those who don't believe: theoriginalmarkz: https://www.slideshare.net/ahmeddinargate/the-history-of-iraqi-dinar-exchange-rate
Mark Coffee and Chat …. Monday through Friday 10:00 AM EST EDT ….Chats live or recorded https://www.twitch.tv/theoriginalmarkz ONLY SPECIAL NEWS tweeted out https://twitter.com/originalmarkz
MARKZ and SALTY TOES have worked hard to build a COMMUNITY that people can trust. You can connect with MarkZ at The Seeds of Wisdom Team Community and website. Just visit the Seeds of Wisdom Team Website, join the Seeds of Wisdom Telegram Community, and Subscribe to receive email updates. https://seedsofwisdomteam.com/
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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
"Tidbits From TNT" Wednesday AM 12-21-2022
TNT:
Tishwash: Kurdistan suspends official working hours for a week on the occasion of Christmas
Today, Wednesday, the Kurdistan Regional Government set the New Year's holiday.
And the Information and Information Department of the Kurdistan Regional Government stated, in a statement, which (Baghdad Today) received, that "disrupting official working hours in all institutions of the regional government, starting from Sunday, December 25, 2022, until January 1, 2023."
And she indicated that "working hours in official institutions will be resumed, as of Monday, January 2, 2023." link
TNT:
Tishwash: Kurdistan suspends official working hours for a week on the occasion of Christmas
Today, Wednesday, the Kurdistan Regional Government set the New Year's holiday.
And the Information and Information Department of the Kurdistan Regional Government stated, in a statement, which (Baghdad Today) received, that "disrupting official working hours in all institutions of the regional government, starting from Sunday, December 25, 2022, until January 1, 2023."
And she indicated that "working hours in official institutions will be resumed, as of Monday, January 2, 2023." link
Tishwash: Vice President of Standard & Poor's expects oil to reach this level!
In an interview with CNBC on Tuesday evening, S&P Global Vice President Dan Yergin said that he expects oil prices to rise strongly during the coming period, and explained that there are also some factors that create a lot of uncertainty about the outlook for oil prices. oil.
Yergin stated that oil prices will receive a lot of support when China fully lifts its epidemic restrictions, indicating that Khan Brent may then rise to the highest level of $ 120 a barrel.
The Vice President of the International Research and Credit Assessment Agency added that the basic scenario for oil prices during the year 2023 is that the price of Brent crude will reach the level of $ 90 a barrel, but he pointed to several other factors that would change the volume of demand or supply for global oil supplies.
Yergin added that if China bypasses its epidemic policies completely, and then contributes to a significant increase in the volume of demand in the oil market, which suffers from limited supply, this may be a single strong push for oil prices towards $ 121 a barrel.
On the other hand, Yergin indicated that oil prices may drop to about $70 a barrel in the event that the recession scenario for some major economies is realized.
Yergin warned that there is a lot of uncertainty that still surrounds the oil market as a result of three factors, namely; The upcoming US Federal Reserve decisions, the level of demand in China, and of course Russia's reaction to the oil price ceiling mechanism that the European Union and its allies imposed on Russian oil this month link
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Tishwash: Parliament intends to hold an extraordinary session to read the 2023 budget 22:16
The Finance Committee in the House of Representatives revealed the parliament’s intention to hold an extraordinary session of the parliament for the purpose of starting the first and second reading of the budget, in the event that it was sent by the government to the legislative authority, while it indicated that the budget is still present in the corridors of the Ministry of Finance and was not sent to the Council of Ministers for the purpose of passing it.
Committee member Jamal Cougar told (Baghdad Today) that "there are obstacles that delay sending the budget, including the birth of a full government with full powers on October 27, while the law stipulates that the budget be sent on October 15, and accordingly the government was then to conduct business and this is the first reason.
As for the reason The second is the arrival of oil prices to approximately 79 or 80 dollars, and this confused the parties that prepare the budget, as they do not know how much the price they are currently setting in the budget, how much is the total value of it, and how much is the deficit in it. All of them are confusing accounts now.
Cougar added, "A country like Iraq lives on oil, which greatly affects it if prices drop from $100 to a number lower than that, and therefore we in the committee and parliament are waiting for the budget to arrive for the purpose of discussing and passing it, even if we are in the legislative season recess." link
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Tishwash: For the first time.. dollar cash sales to the Iraqi Central Bank exceed foreign remittances
The Central Bank of Iraq's cash sales of the US dollar increased today, Wednesday, to exceed for the first time foreign transfers, with the participation of 32 banks.
Shafaq News agency reporter stated that the Central Bank sold today, during its auction for buying and selling the US dollar, 126 million 67 thousand and 350 dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar.
Our correspondent added that most of the sales went, for the first time, in the form of cash sales, amounting to 63 million and 70 thousand dollars, while the rest went to strengthening balances abroad (remittances, credits) and amounted to 62 million 997 thousand and 350 dollars.
Our correspondent indicated that the number of banks that bought the cash dollar amounted to 18, while the number of banks that met requests for strengthening balances abroad reached 14, while the total number of exchange and mediation companies participating in the auction was 186 companies. link
Mot: . Ya Know! -
Mot: .. Yeppers! - those Special Gifts!! ~~~
News, Rumors and Opinions Wednesday Morning 12-21-2022
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Wed. 21 Dec. 2022
Compiled Wed. 21 Dec. 2022 12:01am EST by Judy Byington
Judy Note: As the completion of the Global Currency Reset appears very close, please be assured that I will send out a Special Report as soon as I can about notification of Tier 4B to receive their exchange/redemption appointments. Though, please note that I don’t have a magic wand and will be notified at the same time as everyone else.
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Wed. 21 Dec. 2022
Compiled Wed. 21 Dec. 2022 12:01am EST by Judy Byington
Judy Note: As the completion of the Global Currency Reset appears very close, please be assured that I will send out a Special Report as soon as I can about notification of Tier 4B to receive their exchange/redemption appointments. Though, please note that I don’t have a magic wand and will be notified at the same time as everyone else.
Global Currency Reset The Big Call, Bruce: Thebigcall.net 667-770-1866 pin123456#
Bond Holders: Yellow, Gold and Red Dragon Bonds were released to Bond Seller accounts at noon EST Tues. 20 Dec. German Bonds were released at 7-8 pm EST Tues. 20 Dec. into accounts of German Bond Sellers.
Some Bond Holders had ability to spend up to $180,000 will have access to remaining when Tier4B goes.
Bond Holders received liquidity today Tues. 20 Dec. and will have access to their monies tomorrow Wed. 21 Dec.
Tier 4B could be notified Wed. 21 Dec. and get started tomorrow or Thurs. 22 Dec.
Redemption Center staff had meetings Mon. 19 Dec. until 7pm. They go in to work at 10:30 am tomorrow Wed. 21 Dec.
Bruce predicts that we get notified tomorrow morning Wed. 21 Dec. between 11 am and noon.
A very good Contract Rate is available for the Dinar, but only if you don’t have other currencies or Zim. The regular Dinar Rate is very good.
No contract rate on the Dong, but it has a very good rate – more than we expected.
If you have major health problems let the people know at your appointment and they will set you up for an appointment.
When we exchange the money goes into our Quantum Account (non interest bearing). The money is digital but backed by gold.
You transfer whatever money you want into your Primary Account. That Primary Account is monitored for the first 90 days to make sure it isn’t spent in the wrong way. You will be given a 55 page book of people you are not to give money to.
There are no structured payouts. Structured payouts for a year are only for Bond Sellers and Platform Trade participants.
The accounts are insured by the US Treasury. FDIC will not exist.
~~~~~~~~~~~
The Real News for Tues. 20 Dec. 2022:
Wells Fargo Ordered to pay 37 Billion over Widespread Illegal Activity.: https://www.zerohedge.com/personal-finance/wells-fargo-ordered-pay-37-billion-over-widespread-illegal-activity
NESARA Announcement Expected: http://alcuinbramerton.blogspot.com/2007/07/nesara-announcement-expected-in-run-up.html
NESARA Announcement: http://alcuinbramerton.blogspot.com/2007/07/nesara-announcement-expected-in-run-up.html
Read full post here: https://dinarchronicles.com/2022/12/21/restored-republic-via-a-gcr-update-as-of-december-21-2022/
************
Courtesy of Dinar Guru
Walkingstick [via Frank26] To see the CBI have constant daily meetings, more than one meeting per day is a very good thing. These meetings were not as common as they are now. They were not as acute as they are now. Yeah...to see the CBI have these constant meetings on a daily basis is very good...you have to wait for the articles to catch up with these CBI meetings...these meetings will lead to the 2023 budget and to the new exchange rate of the Iraqi dinar...
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Erbil is back. They're talking to Baghdad. It's all about the HCL. They want their money...we await a final agreement on the HCL law. FRANK: The article 140 was signed/accepted. Article 140 is separate from the HCL but they work together...the HCL is already agreed upon and it was activated because of article 140. It will be in the budget... FIREFLY: There is still a sticking point on the HCL but it's a positive direction... FRANK: It's a very positive direction because the HCL is what's going to allow you guys to go international.
Could China’s Yuan replace the US dollar as the world’s dominant currency?
Next: 12-20-2022
The hegemony of the US dollar currency shows the imbalance in the use of the dollar currency compared to other currencies in the global economic market, which is undoubtedly supported by the International Monetary Fund (IMF) and the World Bank (World Bank) for a long time.
Green US Dollar banknotes were first printed to finance the Civil War in 1861 and became the main global currency after the Bretton Woods Agreement of 1944.
Today, the US Dollar is used in all corners of the world including for oil trade i.e., the 'petrodollar’ which is accepted for most international transactions and dominates up to 90% in the foreign exchange market (FOREX).
Not to forget, 40% of the world's debt is also issued in Dollar currency. With world financial policies supporting the power of the US, the value of the Dollar is expected to continue to strengthen.
In addition to the dollar, the Japanese Yen and Euro are the most used currencies. Although neither of them competes with the Dollar, the Chinese Yuan or Renminbi, is often cited as the main competition for the US Dollar.
China and Russia are seeking to stop using the Dollar with various cooperation with countries in the Asian region and the Middle East.
In this video, we will see how the US Dollar is starting to be replaced by the Chinese Yuan currency.
U.S Should Fear Now! BRICS Becoming 17 Country Alliance | FTX | HINKLEY POINT C. | stocks
Innovation Diary: 12-20-2022
How a Multi-Currency Bank Account Can Help You Diversify Out of the Dollar
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
How a Multi-Currency Bank Account Can Help You Diversify Out of the Dollar?
Q Wealth Report
Anyone looking for currency diversification strategies should consider a multi-currency bank account. Unfortunately this banking product is virtually unknown in North America and the UK, although it is commonplace in some European countries.
I say ‘unfortunately’, because this is one of the most simple and convenient tools for anybody looking to diversify out of the dollar. In this article, I’ll explain more about multi-currency accounts and how you can open one.
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
How a Multi-Currency Bank Account Can Help You Diversify Out of the Dollar?
Q Wealth Report
Anyone looking for currency diversification strategies should consider a multi-currency bank account. Unfortunately this banking product is virtually unknown in North America and the UK, although it is commonplace in some European countries.
I say ‘unfortunately’, because this is one of the most simple and convenient tools for anybody looking to diversify out of the dollar. In this article, I’ll explain more about multi-currency accounts and how you can open one.
A multi-currency account is simply a bank account, with a single account number, in which you can hold balances in various different currencies. For example, you log in through internet banking and immediately you see a summary screen showing you have so many US dollars, so many Euros, so many Canadian dollars, so many British pounds etc.
Many banks allow you to hold a wide range of currencies, including more exotic currencies. Some European banks now even allow you to hold ounces or grams of gold in your account alongside national currencies.
Advantages to this are numerous:
For a start, it is clearly a very convenient tool for anyone who is serious about diversifying currency risk. Instead of having lots of different account numbers and logins, you keep everything on one convenient screen. At any time you can easily exchange your balance in one currency (or part of it) for another currency.
You can wire money in and out in different currencies, to and from anywhere in the world, without the need for currency conversions. This type of account is therefore ideal if you frequently send and receive money internationally, perhaps dividend payments, or transfers related to an overseas property or family living abroad.
Banks normally permit you to go overdrawn in one particular currency, provided your overall ‘global’ balance is in the black.
You can have credit cards and checks linked to your main multi-currency account. Checks can be drawn in any currency. For credit cards, you normally have to choose one particular currency balance that will be debited
Multi-currency accounts are a good, conservative way to hedge against currency risks or make profits with fluctuations. Unlike ‘forex trading’ your account is not leveraged, so there is not so much potential profit but there is also less potential for loss.
This is an easy version of forex trading – for people who don’t want to have their eye on currency rates every minute or even every day.
A multi-currency bank account also beats currency ETFs hands down. With currency ETFs you buy and sell back to your base currency, paying a brokerage fee each time. With multi-currency accounts you hold the actual currency on bank deposit, rather than stock in an ETF.
Anyone who is serious about diversifying outside the dollar needs a foreign bank account –and for many people a multi-currency bank account is the logical choice.
But what about the IRS’ Foreign Bank Account Reporting requirements?
Simply by opening a personal account like this, you will not affect your tax situation in any way, neither positive nor negative. US persons will be liable to declare foreign bank accounts to the IRS.
However, as outlined above, there are many extra benefits besides tax benefits. One of the greatest advantages, besides the currency diversification out of the dollar, is privacy. Privacy is a basic human right, which is unfortunately disappearing fast when it comes to financial services, where domestic investments are basically an open book these days.
Although you might be obliged to report your offshore multi-currency account to the IRS, private parties like credit rating agencies or lawyers who might want to sue you certainly won’t know anything about a private foreign bank account of this nature.
The multi-currency account was not designed as a sophisticated financial instrument. Rather it’s an accident of history, something that developed in smaller European countries like Switzerland, Luxembourg and Andorra where individuals commonly needed bank checking accounts in various currencies.
This was especially true in the old days before the euro when Europeans did business in many different national currencies. Not coincidentally, these countries now offer the best international financial services as well as good banking privacy.
However, in modern private banking terms, such an account can provide a basic transactional banking relationship with a foreign bank, onto which you can tag many much more sophisticated wealth management services: for example, foreign currency loans for investing in bond holdings or stock portfolios. Most banks offer such services.
Needless to say, corporations, trusts, foundations and the like can also open multi-currency accounts and in such cases there is an even greater privacy benefit, and in some cases, depending on individual circumstances, tax reporting requirements may also be legally sidestepped.
How, then, can you open a multi-currency account?
Quite a number of banks in some European countries offer multi-currency services by default, as soon as you open account. Unfortunately, especially for US citizens, it has become very difficult to find a foreign bank that will open an account.
It is undoubtedly best if you can travel to meet the bank and open the account.
Personal meetings and referrals from known and trusted parties still open a lot of doors that initial research might suggest are closed!
It is, however, possible even today to open a multi-currency bank account through the mail.