Judy, Lynette and more....Wednesday AM 10-12-2022
.RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Wed. 12 Oct. 2022
Compiled Wed. 12 Oct. 12:01 am EST by Judy Byington
Global Currency Reset:
Fri. 7 Oct. 2022 ChipChat on Phil’s Live “Batter Up”: “By next weekend (Sat. 15 Oct. to Sun. 16 Oct.) we are to see a major public event take place. Once this event unfolds, things will begin to cascade at an alarming rate and we will move into the new QFS under NESARA.”
Mon. 10 Oct. Captain Kyle Live on Telegram: “The last week of Oct. to the first week of Nov. (Sun. 23 Oct. to Tues. 1 Nov. – three days of Disclosure in ten days of Shutdown) the Military will take over using the Emergency Broadcast System.
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Wed. 12 Oct. 2022
Compiled Wed. 12 Oct. 12:01 am EST by Judy Byington
Global Currency Reset:
Fri. 7 Oct. 2022 ChipChat on Phil’s Live “Batter Up”: “By next weekend (Sat. 15 Oct. to Sun. 16 Oct.) we are to see a major public event take place. Once this event unfolds, things will begin to cascade at an alarming rate and we will move into the new QFS under NESARA.”
Mon. 10 Oct. Captain Kyle Live on Telegram: “The last week of Oct. to the first week of Nov. (Sun. 23 Oct. to Tues. 1 Nov. – three days of Disclosure in ten days of Shutdown) the Military will take over using the Emergency Broadcast System.
Tues. 11 Oct. Bruce: “Tier 4B would be notified for their exchange/ redemption appointment setting tomorrow Wed. 12 Oct. There was a meeting today Tues. 11 Oct. at 3pm Reno time where they were deciding what time tomorrow to release the notifications.”
There were 120 countries (over 50% of the world currencies) on the verge of bankruptcy joining the BRICS Alliance nation states. Their peg to China provided the necessary guarantee to gold/asset-backed currencies. This amount of countries with their currencies joining BRICS Alliance was considered the death of the Central Bank and fiat US dollar – and only a Global Currency Reset could save our global economy.
Last week the Cabal (Chinese Communist Party/ Rothschilds/ Rockefellers/ Vatican/ Blackrock and DAVOS Group) lost a Coup to take over BRICS and the Global Currency Reset in which over half of the world’s currencies have shifted.
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Tues. 11 Oct. 2022 The Big Call, Bruce: Thebigcall.net 667-770-1866 pin123456#
Tues. 11 Oct. Bruce: “Tier 4B would be notified for their exchange/ redemption appointment setting tomorrow Wed. 12 Oct. There was a meeting today Tues. 11 Oct. at 3pm Reno time where they were deciding what time tomorrow to release the notifications.”
In Reno Paymasters were getting their bond holders accounts paid into. They were looking for emails to get the codes that would give them liquidity.
Bond Holder liquidity, Tier4B notification and Tier 5 (the General Public) would all go at the same time.
The Admirals multiple groups have hydrated accounts that they can get access to.
You will have a Quantum Access Card that will get you into your Quantum Account so you can move funds to an interest bearing account.
The banks have lost their way to create income. There is no charge to move money anywhere. Interest rates will be far lower than now.
NESARA phase 5 (the payout phase) was entered into last Sat. 8 Oct.
Of the 406 different classes of bonds, some have been processed.
Tier 4B sets the rates for Zim platform trades. Those trades begin after Tier 4B finishes.
GESARA is to be announced within the next two weeks (by Sat. 22 Oct.).
On the ten days of Darkness: The only darkness that will happen will be in 90 counties where the Military were doing arrests.
There were 30 countries where their currency rates would go up in value.
The General Public would receive at the banks whatever the Forex rates were on the screen. Tier4B rates would be higher.
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Judy Note: What We Think We Know as of Wed. 12 Oct. 2022:
The last week in October the Military will reveal all lies we have been living with over the Emergency Broadcast System.
Also in the last week in Oct. we expected to see various countries being taken over by their Militaries. Military Reserves/Army expected to be activated in the U.S, Canada, UK, EU, Iceland, South American, Mexico, African regions, Malaysia and over 80 other countries.
There has been a failed coup by the Deep State led by the Chinese Communist Party (CCP), to take over BRICS and the Global Currency Reset.
On Sun. 16 October the Chinese plan to announce their new political stance as a Republic.
Read full post here: https://dinarchronicles.com/2022/10/12/restored-republic-via-a-gcr-update-as-of-october-12-2022/
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Courtesy of Dinar Guru
Frank26 The reforms are marching forward. The political crisis is now being stimulated by the UN...Jeanine [From the UN] told Kazemi...if he doesn't sit his government we're going to put them back into Chapter VII...In this case this will be a catalyst, a stimulus, booster rockets for the monetary reform. IMO Kazemi doesn't not want to start all over again. If he enters Chapter VII...that's a lot of steps he'd have to redo again... The people would tear the country apart. He wants peace. He doesn't want war. He wants monetary reform for the citizens.
Breitling Question: "What is the central banks's position on the government of Iraq?" They're fine with it...I keep telling people there's no difference between the Sunni and the Shia. They're definitely fighting for control. On how they treat the currency it's exactly the same and the evidence of that is that the CBI has never changed its policies. Ever.
Economic Collapse Plan Has Been Revealed. Everyone Must Prepare For The Crash - Lynette Zang
The Economic Truth: 10-12-2022
Lynette Zang has been the Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been at a certain level in the markets since 1964. She has been working as a banker, stockbroker and world currencies since 1987.
Bullion Gold vs. Collective Gold vs. Spot - Follow The Demand
Lynette Zang: 10-11-2022
Are you noticing spot gold (contract gold) getting whacked? We are told to buy treasuries because of how attractive the yields are. But that's a lie. They can create as much gold and silver that does not exist with those spot contracts. Let me show you the truth today!
"Crash" Warnings from Steven Van Metre and Greg Mannarino 10-11-2022
.Dire Warning: We Are Three Days From Failure
Steven Van Metre: 10-11-2022
Central bankers have pushed the financial system to the brink of failure by driving interest rates too high, too fast.
The Bank of England is the first to capitulate as they find the U.K. pension system is on the verge of blowing up after taking leveraged bets on increasingly lower interest rates.
Dire Warning: We Are Three Days From Failure
Steven Van Metre: 10-11-2022
Central bankers have pushed the financial system to the brink of failure by driving interest rates too high, too fast.
The Bank of England is the first to capitulate as they find the U.K. pension system is on the verge of blowing up after taking leveraged bets on increasingly lower interest rates.
MARKETWATCH WARNS: "Bond Market VERY CLOSE TO CRASH." IMF WARNS AGAIN AS WELL.
Greg Mannarino: 10-11-2022
More News, Rumors and Opinions Tuesday PM 10-11-2022
.KTFA:
Turkey and Saudi Arabia buy 82 tons of gold, and "Bloomberg" explains the reasons
11th October, 2022
Bloomberg" talked about a transformation in the gold market and said that the market is experiencing an emigration process, as Western investors are getting rid of bullion, while Asian buyers are benefiting from the low prices to buy them.
The agency said that high interest rates, including in the United States, have made gold less attractive as an investment, which means that large quantities of the metal are withdrawn from vaults in financial centers such as New York and heading east to meet demand in the gold market in Shanghai or the Grand Bazaar in Istanbul.
And “Bloomberg” indicated that the gold market cycle was repeated decades ago: when investors retreat and prices of the precious metal fall, Asian buying rises and precious metals flow to the east, and when gold rises again, many bullion returns to accumulate in bank vaults on the streets of New York, London and Zurich.
KTFA:
Turkey and Saudi Arabia buy 82 tons of gold, and "Bloomberg" explains the reasons
11th October, 2022
Bloomberg" talked about a transformation in the gold market and said that the market is experiencing an emigration process, as Western investors are getting rid of bullion, while Asian buyers are benefiting from the low prices to buy them.
The agency said that high interest rates, including in the United States, have made gold less attractive as an investment, which means that large quantities of the metal are withdrawn from vaults in financial centers such as New York and heading east to meet demand in the gold market in Shanghai or the Grand Bazaar in Istanbul.
And “Bloomberg” indicated that the gold market cycle was repeated decades ago: when investors retreat and prices of the precious metal fall, Asian buying rises and precious metals flow to the east, and when gold rises again, many bullion returns to accumulate in bank vaults on the streets of New York, London and Zurich.
Since gold prices reached their peak last March, gold prices have fallen by 18%, as massive increases in interest rates by the US Federal Reserve caused a mass sell-off by financial investors.
According to data from CME Group Inc and London Bullion Market Association, more than 527 tons of gold flowed from the vaults of New York and London, and this coincided with increasing shipments to large Asian gold consumers such as China, whose imports of the metal last August recorded their highest level in 4 years.
In addition to China, one of the major buyers of the precious metal, Turkey and Saudi Arabia, according to a chart by Bloomberg Agency, Ankara bought 62 tons from May to August of this year, while Riyadh acquired 20 tons of the metal.
The agency also indicated that although a lot of gold is heading to the east, the quantities are still not enough to meet demand. Analysts said huge amounts of the precious metals, which feed Asia's appetite, come from vaults managed by CME Group, which supports the Comex futures market in New York. LINK
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Samson: Việt Nam's GDP projected at 7% in 2022: AMRO
7th October, 2022
The ASEAN+3 Macroeconomic Research Office (AMRO) has joined many international organisations in revising up Việt Nam’s GDP growth this year thanks to the country’s strong performance since early this year and success in containing inflation.
In its quarterly update of the ASEAN+3 Regional Economic Outlook released on Thursday, Việt Nam’s economy is projected to expand by 7 per cent in 2022, up from 6.5 per cent in its July forecast and making it the second-highest gainer in the region this year after Malaysia with expected growth of 7.3 per cent.
Việt Nam’s GDP will likely slow down in the next year to 6.5 per cent, topping the region and followed by the Philippines at 6.3 per cent.
AMRO’s forecast followed recent moves by Moody’s, the World Bank (WB), the International Monetary Fund (IMF) and the Singapore-based United Overseas Bank (UOB) which forecast Việt Nam’s 2022 GDP will reach between 7 per cent and 8.5 per cent. “Việt Nam is doing well,” said AMRO chief economist Hoe Ee Khor at the Thursday meeting.
Though attributing the high GDP growth partly to the low base from last year, Dr. Khor said the opening up of the economy, relaxation on pandemic control, increase in domestic demand, recovery in tourism and successful attraction of foreign direct investment (FDI) all contributed to Việt Nam’s quick recovery. “On top of that, the Government’s policy is quite supportive this year. So, because of all these factors, we expect Việt Nam’s economy to grow strongly,” Khor said.
However, Khor pointed out an external risk of import inflation coming from high oil prices. “I mentioned the Vietnamese Government has cut taxes to curb inflation, but that’s not sustainable or the switch you need to refer back to normal,” Khor said, adding the Government needs to start raising the policy rate to contain coming inflation.
For the first time in two years, the State Bank of Việt Nam (SBV) decided to raise its policy rates by one percentage point on September 23. SBV’s move was deemed inevitable as the FED has been raising interest rates, subsequently putting pressure on exchange rates.
Khor also endorsed the Vietnamese central bank’s move, emphasising Việt Nam’s economy is already recovering very strongly and there’s no need for monetary stimulus at this point in time. “The focus is shifting from supporting growth to containing inflation,” he said.
Việt Nam’s inflation is expected to reach 3.5 per cent this year and drop slightly to 3.3 per cent in 2023. This year, most countries are forecast to see their inflation surpass their targets but in the case of mainland China, Hong Kong and Việt Nam, the expected inflation by year-end will be under the ceiling target.
Regional outlook
For the regional outlook, AMRO revised downwards its short-term growth forecast for the ASEAN+3 region due to the continuing strict dynamic zero-COVID policy and real estate sector weakness in China and potential recessions in the United States and the euro area.
The ASEAN+3 region (ASEAN plus China, Japan and the Republic of Korea) is expected to grow by 3.7 per cent this year – down from the 4.3 per cent growth projected in the July forecast. China’s growth was revised down to 3.8 per cent in 2022 from 4.8 per cent in the previous forecast. Japan and Korea’s GDP were projected at 1.6 per cent and 2.4 per cent, respectively.
The ASEAN region alone is slated to grow strongly by 5.3 per cent. The region’s inflation rate for 2022 is now projected to be 6.2 per cent – a full percentage point higher than previously forecast. Growth is expected to increase to 4.6 per cent in 2023 as China’s economy picks up, with inflation moderating to about 3.4 per cent.
The prolonged war in Ukraine is deepening Europe’s energy crisis, pushing it closer to recession. In the United States, aggressive monetary tightening to fight persistently high inflation is intensifying fears of a hard landing. “A simultaneous economic slowdown in the United States and euro area, in conjunction with tightening global financial conditions, would have negative spillover effects for the region through trade and financial channels,” Khor said.
In ASEAN+3, inflation is accelerating. Food and fuel prices remain elevated despite recent easing in key global commodity benchmarks. Subsidy cuts in some economies and depreciating currencies have also pushed prices higher. “Central banks in the region are raising policy interest rates to safeguard price stability and support their currencies. However, the pace of monetary tightening has generally been more measured and gradual than in the United States and the euro area,” Khor said. LINK
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Courtesy of Dinar Guru
Mnt Goat Why have a new 20,000 dinar note? ...why issue it if there is a plan to conduct the project to delete the zeros in the very near future anyhow? Why go through all the work and expense? So, I called the CBI and did my weekly update with my contact. What I was told is that the 20,000 dinar note will be used as part of the long-term banking system for international exchanges and payments only and that when the project to delete the zeros does happen the note will be voided out and taken out of common circulation...
Clare Article: "The Central Bank: We will not print a currency higher than 50 thousand Iraqi dinars" Quote: "Central Bank Adviser Ihssan Shamran Al-Yasiri said 'the size of the monetary mass circulating in banks and the public currently ranges between 83-84 trillion Iraqi dinars, and the new issuance of the 20,000 denomination will not change much of the volume of circulation because it will enter into the existing liquidity.' He stressed that 'the printing of the new category will not affect the value of the Iraqi currency and will not cause inflation, and the issue of inflation is linked to economic policies and has nothing to do with monetary circulation."
JP Morgan Warns Of "Dollar Crisis." Debt Market "Fragility" Worsening. IMPORTANT UPDATES.
Greg Mannarino: 10-11-2022
Central banks continue to purchase gold
Arcadia Economics: 10-11-2022
The gold price may be down, but that hasn't stopped central banks from purchasing it.
As the latest data shows that they continue to add gold to shore up reserves. Which sense given the context of what's going on in the world. A world that's coming under increasing financial pressure as the Federal Reserve and other central banks are raising interest rates to combat inflation, which has started to wreak havoc in many corners of the market.
The video also touches on how in terms of many of the foreign currencies that have depreciated against the dollar this year the price of gold is actually higher, as well as some of the other recent gold and silver data.
"US Congressman Introduces the Gold Standard Bill!!" Dr. Kia Pruit
.Breaking News! The Gold Standard is Here! US Congressman Introduces the GOLD STANDARD Bill! NESARA
Dr. Kia Pruitt: 10-11-2022
Congressman introduces gold standard bill, HR 9157 LINK
U.S. Congressman Introduces Gold Standard Bill as Inflation Spirals Out of Control Washington, DC – America’s currency would regain stable footing for the first time in half a century if a bill just introduced by U.S. Representative Alex Mooney (R-WV) becomes law.
Referred to as the “Gold Standard Restoration Act” by sound money activists, H.R. 9157 calls for the repegging of the Federal Reserve note to gold in order to address the ongoing problems of inflation, runaway federal debt, and monetary system instability.
Breaking News! The Gold Standard is Here! US Congressman Introduces the GOLD STANDARD Bill! NESARA
Dr. Kia Pruitt: 10-11-2022
Congressman introduces gold standard bill, HR 9157 LINK
U.S. Congressman Introduces Gold Standard Bill as Inflation Spirals Out of Control Washington, DC – America’s currency would regain stable footing for the first time in half a century if a bill just introduced by U.S. Representative Alex Mooney (R-WV) becomes law.
Referred to as the “Gold Standard Restoration Act” by sound money activists, H.R. 9157 calls for the repegging of the Federal Reserve note to gold in order to address the ongoing problems of inflation, runaway federal debt, and monetary system instability.
Upon passage of H.R. 9157, the U.S. Treasury and the Federal Reserve would have 30 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be pegged to a fixed weight of gold at its then-market price.
Federal Reserve notes would become fully redeemable for and exchangeable with gold at the new fixed price, with the U.S. Treasury and its gold reserves backstopping Federal Reserve Banks as guarantor. “The gold standard would protect against Washington’s irresponsible spending habits and the creation of money out of thin air," said Rep. Mooney in a statement.
"Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would our economy be at the mercy of the Federal Reserve and reckless Washington spenders.” The Gold Standard Restoration Act also makes several findings as to the harm the Federal Reserve System has inflicted on everyday Americans – particularly since President Richard Nixon “temporarily suspended” gold backing of America’s monetary system in 1971.
H.R. 9157 points out the following: “The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913.”
Economists have observed that the elimination of gold redeemability from the monetary system freed central bankers and federal government officials from accountability when they irresponsibly expand the money supply, fund government deficits though trillion-dollar bond purchases, or otherwise manipulate the economy.
“At times, including 2021 and 2022, Federal Reserve actions helped create inflation rates of 8 percent or higher, increasing the cost of living for many Americans to untenable levels…enrich[ing] the owners of financial assets while… endanger[ing] the jobs, wages, and savings of blue-collar workers,” H.R. 9157 states. Notably, Rep. Mooney’s bill would also require full disclosure of all central bank and U.S. government gold holdings and gold-related financial transactions over the last 6 decades – a seemingly taboo subject surrounded by mystery and deception.
“To enable the market and market participants to arrive at the fixed Federal Reserve Note dollar-gold parity in an orderly fashion... the Treasury Secretary and the Board of Governors of the Federal Reserve shall each make publicly available… all holdings of gold, with a report of any purchases, sales, leases, and any other financial transactions involving gold, since the temporary suspension in August 15th, 1971, of gold redeemability obligations under the Bretton Woods Agreement of 1944.”
Furthermore, H.R. 9157 requires the Fed and the Treasury to disclose “all records pertaining to redemptions and transfers of United States gold in the 10 years preceding the temporary suspension in August 15, 1971, of gold redeemability obligations.”
US Treasury Merges with the US Federal Reserve: Federal Reserve Merges with the US Treasury: https://finance.yahoo.com/news/feds-cure-risks-being-worse-110052807.html
Project Sandman: (100+ countries agreed to return to the gold standard); https://prepareforchange.net/2022/03/25/100-nations-have-global-agreement-now-being-deployed-called-project-sandman-to-drop-and-end-dominance-of-u-s-dollar-and-petrodollar/
News, Rumors and Opinions Tuesday Morning....10-11-2022
.RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Tues. 11 Oct. 2022
Compiled Tues. 11 Oct. 12:01 am EST by Judy Byington
Judy Note: My personal Intel on all fronts has been silent for a couple of weeks. Any dates put out appeared to have been pure guesses. However, we know Tier 4B (us, the Internet Group) was close to obtaining appointments to exchange because:
There were 120 countries (over 50% of the world currencies) on the verge of bankruptcy joining the BRICS Alliance nation states. Their peg to China provided the necessary guarantee to gold/asset-backed currencies.
This was the death of the Central Bank and fiat US dollar – and only a Global Currency Reset could save our global economy.
As of Tues. 13 Sept. the Federal Reserve and their Central Banks were bankrupt.
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Tues. 11 Oct. 2022
Compiled Tues. 11 Oct. 12:01 am EST by Judy Byington
Judy Note: My personal Intel on all fronts has been silent for a couple of weeks. Any dates put out appeared to have been pure guesses. However, we know Tier 4B (us, the Internet Group) was close to obtaining appointments to exchange because:
There were 120 countries (over 50% of the world currencies) on the verge of bankruptcy joining the BRICS Alliance nation states. Their peg to China provided the necessary guarantee to gold/asset-backed currencies.
This was the death of the Central Bank and fiat US dollar – and only a Global Currency Reset could save our global economy.
As of Tues. 13 Sept. the Federal Reserve and their Central Banks were bankrupt.
By Fri. 30 Sept. US Inc, United Nations, World Bank, IMF, British Crown and Vatican laundering of slush funds to the Cabal corporations of State Street, Vanguard and Blackrock stopped as the world pulled all credit from US Inc.
On Sat. 1 Oct. the new Global Financial Fiscal Year began, plus Venezuela introduced their new gold/asset-backed Bolivar currency by dropping six zeros.
On Mon. 10 Oct. 2022 Historic Bond settlement was being reported outside of the US. Settlement of Historic Bonds was a major event that would trigger a cascade of events in BRICS.
The Calm Before the Storm: https://rumble.com/v1n8nao-the-calm-before-the-storm.html
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Summary of Behind the Scenes Events for Mon. 10 Oct. 2022:
The Cabal has launched a failed Coup to take over BRICS and the Global Currency Reset (in which over half of the world’s currencies have shifted). The extensively planned but failed Coup was organized by the Chinese Communist Party/ Rothschilds/ Rockefellers/ Vatican/ Blackrock and DAVOS Group.
The failure of a Khazarian Mafia Coup attempt in China to take over BRICS and the Global Currency Reset means the US Corp. would not be able to escape bankruptcy. The principal owner of US Corp, Blackrock International, has filed for bankruptcy. Blackrock International, Inc. Files for Bankruptcy in Lafayette | BKData https://benjaminfulford.net/2022/10/10/new-chinese-emperor-oversees-khazarian-mafia-purge/
Banks, Countries and Government around the World were in Economic collapse and we were all headed into IMMINENT Military intervention.
You were advised to stock up on cash, food, fuel and essential goods supplies.
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Global Financial Crisis:
GESARA NESARA is coming now! U.S. Congressman Introduces Gold Standard Bill as Inflation Spirals Out of Control. https://www.moneymetals.com/news/2022/10/08/us-congressman-introduces-gold-standard-bill-as-inflation-spirals-out-of-control-002607
Fed. Trapped in Two GCR Scenarios: https://dinarrecaps.com/our-blog/awake-in-3d-the-us-fed-is-utterly-trapped-two-gcr-scenarios-possible
Read full post here: https://dinarchronicles.com/2022/10/11/restored-republic-via-a-gcr-update-as-of-october-11-2022/
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Courtesy of Dinar Guru
Frank26 Everyone of these articles that I say "not at a program rate' is evidence - is solid proof that the Iraqi dinar is not what it was. And it's being introduced to the international world at a completely different rate with a completely different value potential...why? Cause the economic reform is exploding...
Frank26 They're teaching the citizens of Iraq from 1 thousand fils all the way down to one fil so that change can be given back due to a change in their exchange rate.
The Dollar Is About To Soar & CRUSH Global Markets Further
Sean Foo: 10-11-2022
The US dollar is going to strengthen and the market crash isn't over yet. With August inflation coming in red hot above expectations, the Fed is trapped and they have to hike interest rates to the moon.
This will trigger a wave of currency devaluations, higher inflation in emerging economies and extreme borrowing conditions. Things have just gotten worse for the financial markets. Here's what you must know!
Andy Schectman: Silver & Gold Biggest Move About To Come
Post Rev: 10-10-2022
In this video, Andy Schectman Share Silver & Gold Might Do Very Well In The Next Few Years
The People Who Engineered Record Inflation Want To Control Cryptocurrency
The People Who Engineered Record Inflation Want To Control Cryptocurrency
Notes From the Field By Simon Black October 3, 2022
On the First of May in the year 1716, a swashbuckling Scottish entrepreneur was making this pitch of his lifetime to the head of the French government in Paris. The entrepreneur’s name was John Law. By all accounts he was incredibly charismatic and had a flamboyant, larger than life personality. He was something like Adam Neumann, formerly of WeWork… the kind of person who could talk anyone into anything. And John Law’s pitch that day was to launch an entirely new financial system.
The People Who Engineered Record Inflation Want To Control Cryptocurrency
Notes From the Field By Simon Black October 3, 2022
On the First of May in the year 1716, a swashbuckling Scottish entrepreneur was making this pitch of his lifetime to the head of the French government in Paris. The entrepreneur’s name was John Law. By all accounts he was incredibly charismatic and had a flamboyant, larger than life personality. He was something like Adam Neumann, formerly of WeWork… the kind of person who could talk anyone into anything. And John Law’s pitch that day was to launch an entirely new financial system.
King Louis XIV had just died eight months before, leaving France in terrible financial ruin. Decades of endless wars, palaces, and profligate spending had bankrupted the French government.
The situation was so dire, in fact, that there was hardly any gold left in the French treasury. So the new head regent of the government, Duke Philippe II of Orleans, was desperate for a solution.
Law made him a bold proposal: the Duke would provide Law with a special banking license. And in exchange, Law would create a new system of paper money that would bring more gold into France and help pay off the crippling national debt.
Philippe agreed. And, only a few weeks later, John Law’s new Banque Generale Privee was in business.
It turned out that people loved the idea of paper money. And within a year, his paper bank notes were circulating widely throughout the French economy, and the government even accepted them for tax payments.
Law made his paper money even more valuable in late 1717, after he had taken control of the Mississippi Company.
The French Mississippi Company was something like the Dutch East India Company; it was a private enterprise that had received a royal monopoly over all the land and resources in France’s American colonies.
Almost immediately after securing rights to the monopoly, Law offered shares of the Mississippi Company to the public; it was like a giant IPO.
But Law sweetened the deal by allowing people to pay up to 75% of the share price using his bank’s paper money.
The Mississippi Company IPO was a smashing success. It was so popular that Law was offered bribes, sex, and political favors from French nobles in exchange for the opportunity to buy a few extra shares.
The famous philosopher Voltaire was eye witness to this, and wrote, “I myself saw him pass through the galleries of the Palais-Royal followed by dukes and peers, Marshalls of France, bishops of the Church.”
And at first the share price soared. Bear in mind the Mississippi Company had zero activity. Hardly anyone was living in France’s southern colonies in America, and there was virtually no trade or commerce going on.
The government even tried deporting criminals to America, trying to increase the population of the colonies. They offered hundreds of acres of land for free to anyone who would go. Yet economic activity still failed to transpire.
Eventually the French public realized the truth; there would be no gold, no gems, and no riches coming from the Mississippi Company. And the stock price began to quickly collapse.
Law tried to prop up the stock price by creating more paper money (backed by absolutely nothing), and using that new money to buy shares of the Mississippi Company.
But all he ended up doing was creating inflation; with so much new paper money circulating in the economy, prices everywhere rose.
By May 1720, retail prices in France had doubled. It was full-blown hyperinflation, and people panicked. They feverishly began selling off their Mississippi Company shares and trading their paper money, for any real asset they could get their hands on.
One nobleman, Duke Henri-Jacques de Caumont, dumped all of his paper in exchange for a warehouse full of candles. A Parisian merchant sold his in exchange for crates of chocolate and coffee.
(This is one of many examples of history showing that real assets tend to do well in times of inflation.)
Shortly after, Law officially suspended the conversion of his bank notes into gold and silver, and the paper money instantly became worthless.
At the peak of all this insanity, if you can even believe it, the French government made John Law its Comptroller-General.
In other words, the guy who created the biggest financial bubble in French history was put in charge of government finances.
I couldn’t help but think of this story when I watched a group of central bankers talking about cryptocurrency at a conference in Paris last week.
Among others, the heads of the US Federal Reserve and the European Central Bank participated in a panel discussion that, for anyone who actually understands crypto, can only be described as hilarious.
Naturally they started with the old anti-crypto tropes, talking about “the lack of transparency” and how criminals use crypto.
These are completely laughable points. Criminals use iPhones, American Express, and JP Morgan Chase as well. Should we cancel those too?
And as for crypto’s lack of transparency, the opposite is true. Every Bitcoin transaction is traceable on the blockchain for the entire world to see.
Yet with every passing sentence, these bankers demonstrated that they know absolutely nothing about crypto… and quite possibly banking too.
At one point they slammed stablecoins that didn’t have a 1:1 backing; stablecoins are specialized tokens that represent, for example, 1 US dollar per token. So there is supposed to be at least one US dollar in reserve for every token in circulation.
Lately there have been a handful of high profile stable coins that didn’t have sufficient reserves. So their criticism is fair.
But this leads to an obvious question: if a 1 to 1 reserve standard for stable coins is so critical, why don’t we demand the same of our banking system?
Central Banks are among the most prominent regulators in banking. And they have completely condoned a fractional reserve system whereby commercial banks are only required to keep 10% (or less) in reserve.
In other words, these people are perfectly fine that commercial banks gamble most of their customers’ money on the latest investment fad of the day.
It’s fine to be outraged when a few stablecoins aren’t 100% reserved. But they should be equally outraged that commercial banks aren’t even 10% reserved.
The biggest laughs, though, took place when these central bankers started talking about rolling out their own digital currencies.
The Fed wants to create a DollarCoin. And the European Central Bank wants a EuroToken.
This is truly rolling on the floor, laugh out loud funny given that these people have no clue about technology.
The Federal Reserve’s most important payment system, FedACH, which processes over 50 million transactions per day, still takes 2-3 days for payments to clear. It’s so outdated, it’s as if they’re still sending satchels full of cash via Pony Express.
It’s also ridiculous that the people who have failed in every possible aspect of their responsibility think that they’re qualified to administer a brand new financial system.
These Central Banks failed to anticipate inflation. They failed to recognize it. They failed to do anything about it for more than a year. And now they’re hellbent on causing a recession.
They’ve pretty much been a complete disaster. Yet now they want to be in charge of crypto too. Are these people serious??
To me this is really one of the great benefits of crypto, and of real assets. Holding paper money is ultimately a vote in favor of central bankers, an expression of confidence that they know what they’re doing.
Personally I have little confidence in these people. And that’s why I think it makes sense to hold other types of assets that they don’t control, including real assets (real estate, commodities, productive businesses, etc.) and decentralized crypto assets.
To your freedom, Simon Black, Founder, SovereignMan.com
The people who engineered record inflation want to control cryptocurrency | Sovereign Research
Awake-In-3D "The US Fed is Utterly Trapped-Two GCR Scenarios Possible
The US FED is Utterly Trapped - Two GCR Scenarios Possible
It’s only a matter of time now… if the FED continues raising the overnight, FedFunds interest rate to its stated target of 4.6% (to fight inflation), the USA government (UST) will pay over $1 Trillion in annual interest (up from $392 Billion) to maintain its 2021 debt.
That’s a global financial system “game-over” scenario.
And this calculation doesn’t include the newly achieved, 2022 US Treasury National debt of $31 Trillion as it now stands.
Yet, if the FED backs down on its inflation fight, and lowers the FedFunds rate, or begins new Quantitative Easing (as The Bank of England just did), the $USD will crash hard from its current, meteoric level and throw the US economy into a depression (with a D).
The FED is trapped in a spiral of its own creation. The only result will be one of two possible, monetary/currency resets.
The US FED is Utterly Trapped - Two GCR Scenarios Possible
It’s only a matter of time now… if the FED continues raising the overnight, FedFunds interest rate to its stated target of 4.6% (to fight inflation), the USA government (UST) will pay over $1 Trillion in annual interest (up from $392 Billion) to maintain its 2021 debt.
That’s a global financial system “game-over” scenario.
And this calculation doesn’t include the newly achieved, 2022 US Treasury National debt of $31 Trillion as it now stands.
Yet, if the FED backs down on its inflation fight, and lowers the FedFunds rate, or begins new Quantitative Easing (as The Bank of England just did), the $USD will crash hard from its current, meteoric level and throw the US economy into a depression (with a D).
The FED is trapped in a spiral of its own creation. The only result will be one of two possible, monetary/currency resets.
I call this coming scenario, The Lords of the Currency - The Two GCR Towers.
More on my “Two GCR Towers” scenario coming soon…
@GCR_RealTimeNews
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“The trick is to survive and then max it out when the Fed admits that they’re trapped. It’s going to be one of the great wealth transfers of all time. Who’s ready??”
https://www.zerohedge.com/markets/fed-fuct-part-4
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Zerohedge: "The Fed Is Fuct..." Part 4
The Fed is trapped in a box of their own creation. As a result, they may want to talk tough, but their ability to maneuver is severely restricted. The Fed claims that they’re targeting a terminal rate of 4.6% for Fed Funds, but if they did that for any period of time, they’d only succeed in blowing up the Treasury.
Our government has run obscene deficits over the past two decades. This was only made possible by the Fed suppressing interest rates. Despite a succession of Treasury Secretaries, the US debt was never termed out. The majority of the debt is actually quite short term. During 2021, the Federal government paid $392 billion in interest on $21.7 trillion of average debt outstanding—or an average interest rate of 1.8%.
Now imagine if Fed Funds actually got to the terminal rate and stayed there for any period of time. What would paying an average rate of 4.6% on year-end 2021 debt do to the interest expense? Well, it rises by $636 billion to $1.028 trillion or the more than the cost of our entire military spending of $801 billion in 2021. Ignoring the budget pressure, the interest cost would then be 4.5% of total GDP, up from 1.7% in 2021. That’s like tying a lead weight around the neck of our economy.
Read Full post here: https://www.zerohedge.com/markets/fed-fuct-part-4
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NEW RV/GCR FACT-BASED NEWS CHANNEL ON TELEGRAM
Awake-In-3D reports on “real world” financial events in the context of an emerging asset-backed Global Currency Reset as Central Banksters fight hard to preserve their collapsing Fiat Currency regime and dominance over humanity.
Providing unique commentary, backed by factual articles and reference links, the new "GCR Real-Time News" channel provides readers with a critical-thinking approach to world financial events documenting this historical financial Shift which is unfolding at this very moment.
Link to join: https://t.me/GCR_RealTimeNews
I don't sell products and this channel is not monetized. I'm not competing with other news sites. My only goal is providing Unique GCR commentary and analysis as a beneficial public service to GCR-Land.
Alastair MacCleod, Steven Van Metre and Grag Mannarino Monday PM 10-10-2022
Silver: Bear Squeeze In The Middle Of A Crisis | Alasdair Macleod
SFLive: 10-10-2022
On this episode we are joined by Alastair Macleod to discuss the current bear squeeze, a looming crisis, US Dollar weakness leading to funds flowing into gold & silver, short traders closing their positions, FED Fund rate and much more.
Silver: Bear Squeeze In The Middle Of A Crisis | Alasdair Macleod
SFLive: 10-10-2022
On this episode we are joined by Alastair Macleod to discuss the current bear squeeze, a looming crisis, US Dollar weakness leading to funds flowing into gold & silver, short traders closing their positions, FED Fund rate and much more.
A Cascading Wave of Defaults is About to Topple the Banks
Steven Van Metre: 10-10-2022
The Global Financial System Is Coming Apart FASTER... AND Its About To Get MUCH WORSE.
Greg Mannarino: 10-10-2022
A Masterclass In ‘How To Shoot Yourself In The Foot’
A Masterclass In ‘How To Shoot Yourself In The Foot’
Notes From the Field By Simon Black October 7, 2022
In the mid 1400s, the head of the Byzantine Empire was a career politician with decades of experience who most people thought would be a capable leader. Instead, through a series of hilariously terrible decisions, he managed to take his already weak empire off the cliff, and into the dustbin of history, in just a few short years.
And one of the ways he did that was by deliberately giving up the most strategic resource his empire possessed.
A Masterclass In ‘How To Shoot Yourself In The Foot’
Notes From the Field By Simon Black October 7, 2022
In the mid 1400s, the head of the Byzantine Empire was a career politician with decades of experience who most people thought would be a capable leader. Instead, through a series of hilariously terrible decisions, he managed to take his already weak empire off the cliff, and into the dustbin of history, in just a few short years.
And one of the ways he did that was by deliberately giving up the most strategic resource his empire possessed.
We’re seeing a similar story play out today-- the people with decades and decades of experience are doing all the wrong things to vanquish one of the most strategic resources in our modern world: energy.
Think about it-- the people in charge have demonized an entire industry. They punish oil companies with creative taxes and insane regulations. They refuse to follow the law and lease federal lands to oil and gas companies. They drag their feet in the permitting process.
They constantly antagonize energy companies and blame high fuel prices on the industry’s “greed”.
In short they do everything they can to destroy a critical resource that the nation depends on for growth and prosperity.
This is our topic for today’s podcast. We start off walking through the comical incompetence of Emperor Constantine XI from the Byzantine Empire… and then go through some key issues to know about in the oil and gas sector.
In short, supply is tight… and probably not getting better. Demand is increasing. It’s a really important trend to understand.
But we leave with some good news. This is fixable, both long-term and short-term. But the short-term fix is going to rely on a few surprising characters from our past that may become some of the most exciting economies in the world.
To your freedom, Simon Black, Founder, SovereignMan.com
https://www.sovereignman.com/podcast/a-masterclass-in-how-to-shoot-yourself-in-the-foot-37789/
News, Rumors and Opinions Monday 10-10-2022
KTFA:
Samson: The Central Bank of Iraq obtains an international certificate in cash management
9th October, 2022
Today, Sunday, the Central Bank of Iraq obtained the ISO certificate (ISO9001:2015) related to the quality management system in terms of cash management, issued by TQCS INTERNATIONAL PTY LTD.
The company, which granted the certificate to the Director General of the Issuance and Treasury Department, praised the efforts of the Central Bank of Iraq in implementing international specifications and standards.
It is noteworthy that this certificate is granted every three years to institutions that implement international systems and standards for total quality management and institutional development.
Central Bank of Iraq
Media Office
9 - October – 2022 LINK
KTFA:
Samson: The Central Bank of Iraq obtains an international certificate in cash management
9th October, 2022
Today, Sunday, the Central Bank of Iraq obtained the ISO certificate (ISO9001:2015) related to the quality management system in terms of cash management, issued by TQCS INTERNATIONAL PTY LTD.
The company, which granted the certificate to the Director General of the Issuance and Treasury Department, praised the efforts of the Central Bank of Iraq in implementing international specifications and standards.
It is noteworthy that this certificate is granted every three years to institutions that implement international systems and standards for total quality management and institutional development.
Central Bank of Iraq
Media Office
9 - October – 2022 LINK
Samson: Economist: Political conflicts have lost Iraq's strength in front of investors
9th October, 2022
The economic expert, Hashem Al-Habboubi, considered on Sunday that the loss of many investment opportunities for important and strategic projects was caused by political conflicts and the loss of confidence between them, pointing out that these struggles made Iraq lose its strength in front of investors.
Al-Haboubi said in a statement to "Al-Mawrafa", that "the abhorrent quota system and the loss of confidence between parties and political forces and their struggles over high positions and bodies made the doors open for the corrupt and looted treasury funds allocated to projects, especially infrastructure projects," noting that "infrastructure projects need years of Fixed government funding.
He added that "the loss of many investment opportunities for important and strategic projects is caused by political conflicts and the loss of confidence between them," noting that "these struggles have made Iraq lose its strength in front of investors."
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, had confirmed in a previous statement that the minimum budgets lacked opportunities for economic growth, and deprived Iraq of major strategic projects. LINK
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American Patriot:
The QFS has not been fully activated as of this date. There have been some currencies downloaded to the QFS for Alliance purposes, but the full activation will not occur until the Global Currency Reset is completed. There are other conditions that must be met, but as of this date have not been. When they are met, the Zim Redemption and exchange of revalued currencies will take place. The talk about paymasters being paid or any other reported movement of money would only be Fiat currencies and not part of the Gold-Backed QFS currencies. There will be full activation of the QFS when the RV is announced and the protocol for the redemption process is published. Until then, all reports of movement of QFS currency is a figment of someone's controlled mind.
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Courtesy of Dinar Guru
Sandy Ingram We have excellent news from Iraq. The ARAP private bank league revealed...the financial statistics of the Iraqi banking sector during the first half of 2022 were favorable because of its strategy adopted by the Central Bank of Iraq. This strategy was put into place to strengthen the public's confidence in the banking sector. This is important because there can be little to no talk of a revalue of currency until the Iraqi people trust the banking system and put their money into the bank and not under the mattress. [Post 1 of 2....stay tuned]
Sandy Ingram The CBI quietly encouraged loans by the private banking system in Iraq and it worked big time! The credit granted to the public during the first half of 2022 reached $2.53 billion U.S dollars at a rate of around 7% interest. Deposits increased around $5.69 billion...bring the total deposits in the banking sector to $73 billion...You see everyone in Iraq is not broke. The assets in banks grew to 112 billion...things are happening in Iraq for the good. This has happened even with the protests, the political crisis and Iraq not being able to form a government... [post 2 of 2]
The Fed Has Made Zero Progress Fighting Inflation - Ep 847
Peter Schiff: 10-9-2022
· Bank of England has Wall Street questioning the Fed.
· Consumers are spending and borrowing more than ever.
· Oil prices rise on OPEC+ production decrease.
· Bitcoin is very close to a major collapse.
· Michael Saylor is harming more investors than Kim Kardashian.
· Bond investors still don’t believe inflation is here to stay.
MARKETS A LOOK AHEAD: World Bank WARNS OF "5th Wave Of Debt Crisis."
By Gregory Mannarino: 10—9-2022
U.S. Congressman Introduces Gold Standard Bill as Inflation Soars Out Of Control
.U.S. Congressman Introduces Gold Standard Bill as Inflation Spirals Out of Control
Money Metals News Service October 8th, 2022
Washington, DC – America’s currency would regain stable footing for the first time in half a century if a bill just introduced by U.S. Representative Alex Mooney (R-WV) becomes law.
Referred to as the “Gold Standard Restoration Act” by sound money activists, H.R. 9157 calls for the repegging of the Federal Reserve note to gold in order to address the ongoing problems of inflation, runaway federal debt, and monetary system instability.
Upon passage of H.R. 9157, the U.S. Treasury and the Federal Reserve would have 30 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be pegged to a fixed weight of gold at its then-market price.
U.S. Congressman Introduces Gold Standard Bill as Inflation Spirals Out of Control
Money Metals News Service October 8th, 2022
Washington, DC – America’s currency would regain stable footing for the first time in half a century if a bill just introduced by U.S. Representative Alex Mooney (R-WV) becomes law.
Referred to as the “Gold Standard Restoration Act” by sound money activists, H.R. 9157 calls for the repegging of the Federal Reserve note to gold in order to address the ongoing problems of inflation, runaway federal debt, and monetary system instability.
Upon passage of H.R. 9157, the U.S. Treasury and the Federal Reserve would have 30 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be pegged to a fixed weight of gold at its then-market price.
Federal Reserve notes would become fully redeemable for and exchangeable with gold at the new fixed price, with the U.S. Treasury and its gold reserves backstopping Federal Reserve Banks as guarantor.
“The gold standard would protect against Washington’s irresponsible spending habits and the creation of money out of thin air," said Rep. Mooney in a statement.
"Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would our economy be at the mercy of the Federal Reserve and reckless Washington spenders.”
The Gold Standard Restoration Act also makes several findings as to the harm the Federal Reserve System has inflicted on everyday Americans – particularly since President Richard Nixon “temporarily suspended” gold backing of America’s monetary system in 1971.
H.R. 9157 points out the following: “The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913.”
Economists have observed that the elimination of gold redeemability from the monetary system freed central bankers and federal government officials from accountability when they irresponsibly expand the money supply, fund government deficits though trillion-dollar bond purchases, or otherwise manipulate the economy.
“At times, including 2021 and 2022, Federal Reserve actions helped create inflation rates of 8 percent or higher, increasing the cost of living for many Americans to untenable levels…enrich[ing] the owners of financial assets while… endanger[ing] the jobs, wages, and savings of blue-collar workers,” H.R. 9157 states.
Notably, Rep. Mooney’s bill would also require full disclosure of all central bank and U.S. government gold holdings and gold-related financial transactions over the last 6 decades – a seemingly taboo subject surrounded by mystery and deception.
“To enable the market and market participants to arrive at the fixed Federal Reserve Note dollar-gold parity in an orderly fashion... the Treasury Secretary and the Board of Governors of the Federal Reserve shall each make publicly available… all holdings of gold, with a report of any purchases, sales, leases, and any other financial transactions involving gold, since the temporary suspension in August 15th, 1971, of gold redeemability obligations under the Bretton Woods Agreement of 1944.”
“A return to gold redeemability would arrest the problem of inflation, restrain the growth of wasteful and inefficient government, and kick off an exciting new era of American prosperity,” Gleason concluded.
Read Full post here: https://www.moneymetals.com/news/2022/10/08/us-congressman-introduces-gold-standard-bill-as-inflation-spirals-out-of-control-002607