Zimbabwe’s New Gold-Backed ZiG Currency: A Record Financial Turnaround

Zimbabwe’s New Gold-Backed ZiG Currency: A Record Financial Turnaround

On June 3, 2024
By Awake-In-3D

Rapid improvement in Zimbabwe’s currency stability thanks to the new gold-backed ZiG currency.

In This Article

1. The Troubled History of Zimbabwe’s Currency

2. Introduction of the Gold-Backed ZiG Currency

3. How the ZiG Currency Stabilized the Economy

4. Future Prospects for Zimbabwe’s Financial Stability

Zimbabwe has faced one of the most turbulent currency crises in history.

The introduction of the ZiG currency, backed by gold, has brought a surprising and rapid turnaround, stabilizing the economy and reducing inflation.

The Troubled History of Zimbabwe’s Currency

Zimbabwe’s currency woes began in the early 1980s.

The Zimbabwe dollar replaced the Rhodesian dollar but started losing value significantly in the 1990s. By 2006, hyperinflation forced the government to redenominate the currency at an exchange rate of 1,000 to one.

The situation worsened in 2008 when the currency was redenominated again at 10 billion to one. By 2015, a U.S. dollar equaled 35 quadrillion Zimbabwe dollars.

In 2016, bond notes backed by U.S. dollars were introduced but failed to stabilize the currency due to excessive printing. Inflation soared, and foreign currencies became the main medium for transactions.

Introduction of the Gold-Backed ZiG Currency

In a bold move, Zimbabwe introduced the Zimbabwe Gold (ZiG) currency, converting domestic dollar balances into ZiG balances.

This currency is backed by significant gold reserves, a shift from highly inflated fiat money to a more stable, specie-backed currency. The central bank recalibrated the main interest rate to 20%, down from 130%.

Central Bank Governor John Mushayavanhu highlighted the reserves, including 1.1 tons of gold stored domestically and another 1.5 tons abroad. This reserve-backed approach aimed to restore confidence in the local currency.

How the ZiG Currency Stabilized the Economy

The immediate impact of the ZiG currency was significant. Consumer prices dropped by 2.4% in May, a month after the ZiG was introduced.

This deflation marked a stark contrast to the hyperinflation that had plagued Zimbabwe for years. The ZiG currency appreciated by 1.9% against the U.S. dollar within a month of its launch, reflecting newfound stability.

The ZiG currency was issued in various denominations, ensuring ease of use in daily transactions. By converting old currency to ZiG, the government aimed to curtail inflation and stabilize the economy. The introduction of ZiG coins helped address the shortage of small change in the market.

Future Prospects for Zimbabwe’s Financial Stability

The introduction of the ZiG currency has set Zimbabwe on a path to financial stability.

With inflation rates expected to stabilize between 2% and 5% by year-end, the economic outlook is promising. This turnaround is attributed to the disciplined approach of backing the currency with tangible assets like gold.

Economists emphasize the need for continued discipline and prudent financial management to sustain this positive trend. The gold-backed ZiG currency serves as a foundation for rebuilding trust in Zimbabwe’s monetary system.

The Bottom Line

Zimbabwe’s new gold-backed ZiG currency has brought remarkable improvement to a country long marred by hyperinflation and currency instability.

By anchoring the currency with gold reserves and implementing stringent monetary policies, Zimbabwe has achieved a rare and rapid economic stabilization.

The future looks hopeful as the country embraces this new era of financial stability.

Zimbabwe’s Currency History in a Nutshell

1. 1980: Zimbabwe dollar replaced the Rhodesian dollar at par.

2. 2006: Currency redenominated at 1,000 to one.

3. 2008: Further redenomination at 10 billion to one.

4. 2009: 12 zeroes removed from bank notes; foreign currencies legalized.

5. 2015: $1 USD = 35 quadrillion Zimbabwe dollars.

6. 2016: Introduction of bond notes backed by U.S. dollars.

7. April 2024: Introduction of ZiG (Zimbabwe Gold) currency.

8. April 2024: ZiG currency appreciated by 1.9% against the USD within one month.

9. May 2024: Consumer prices dropped by 2.4%.

10. Projected 2024: Inflation expected to stabilize between 2% and 5%.

Contributing articles:

• https://www.biznews.com/africa/2024/05/30/zimbabwe-deflation-zig-stabilises-economy

• https://www.numismaticnews.net/paper-money/zimbabwe-currency-zigs-then-zags

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© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews

Follow me on Twitter: @Real_AwakeIn3D

A Big Change For The Iraqi Dinar: The Economic Ninja

A Big Change For The Iraqi Dinar

The Economic Ninja:  6-4-2024

Iraq may see a big buyer for the IQD now that China has forged a big deal for Iraqi Natural Gas.

This will bring in buyers for the Iraqi dinar and will strengthen the value of the dinar.

https://www.youtube.com/watch?v=ezjNLyvZMYg

More News, Rumors and Opinions Tuesday PM 6-4-2024

KTFA:

The Iraqi government sets days for the Eid al-Adha holiday

6/4/2024

On Tuesday, the Iraqi government set the days for the Eid al-Adha holiday, which will fall on Sunday, June 16.

The Prime Minister’s Media Office said in a statement received by Shafaq News Agency, “Prime Minister Muhammad Shiaa Al-Sudani directed that the Eid Al-Adha holiday be for official departments, starting from Sunday, June 16, until Thursday, June 20, provided that official work resumes on Sunday.” June 23.”  LINK

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DeepWoodz:  They’ve changed the rate without budgets before. No reason they can’t do it at will. To start the float. 

The key here is the size of the budget and the international standards being applied along with the upgraded banking systems. 

They have a plan. Watch em work it. They appear to be pushing hard in the right direction. 

Supreme Court Ruling: State sponsored Banks can Disband from The Federal Reserve System and Issue their Own Currency.

Mark Thursday May 30th, 2024 as #EndtheFed day. Doing Simple Math this Sets Fundamental Value of Gold at $25,000 per ounce and Silver $417 per ounce.

The Silver Academy:  Jun 01, 2024

• States banks can issue their own gold backed currency bypassing the Federal Reserve

• Ruling just released Thursday May 30, 2024 (Mark this on your calendar as #EndtheFed day)

• State sponsored banks do not have to adhere to the Federal Reserve charter

• And states can then acquire gold reserves for their state banks

• and disband from the Federal Reserve system.

We have confirmation that the USA effectively has a dual banking system.

Each state in the USA operates its own banking system, parallel to the Federal Reserve. While the Federal Reserve has inflicted severe pain locally and globally, the Supreme Court has upheld the state's right to maintain its own charter, independent of the corporate Fed system.

The Federal Reserve doesn't respect state rights for banks to adhere to their own charter outside the control of Washington, D.C., (but these are the same animals when asked by Ron Paul that don't believe Gold and Silver are money, thus proving they don't want competition - LOL)

But states are taking their power back. (The Silver Academy recognizes Money Metals and Sound Money Defense League for their zealous work in fueling a State to State movement. )

Major kudos to Stefan Gleason and Jp Cortez

This document below (smash the blue button) shows that we never needed the Federal Reserve on a legal basis.

How? Simple.

Banks with federal charters, called national banks, are subject primarily to federal oversight and regulation. Banks with state charters, called state banks, are subject to additional state oversight and regulation. Those two banking systems co-exist and compete.

Now you have it in writing. Officially.

Read Supreme Court Document:  https://www.supremecourt.gov/opinions/23pdf/22-529_1b7d.pdf

https://thesilverindustry.substack.com/p/supreme-court-ruling-state-sponsored

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat    "The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed...the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next week."   Folks this is all positive news and exactly what we should expect to see at this point in time. Yes, it is now all about the Banking Reforms. This is what is going to get the dinar to officially pass the dollar. We already know the value is greater and so now we just need to go through the motions to get it recognized to its true value.

Militia Man  They got it [the budget] done...What does it have to do?  It's got to go to the Gazette...whether that's going be on Wednesday which is 24 or 48 hours or is it going to be Saturday or will it go all the way out...15 days.  We're going to find out.

Sudani is happy coalition is leaving

Nader: 60402924

https://www.youtube.com/watch?v=sK962q10h-w

Are The Central Banks Moving Back to Gold? Egon Von Greyerz and Lynette Zang Discuss

Lynete Zang:  6-4-2024

https://www.youtube.com/watch?v=35Jt4m9SRMM

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Good Evening Dinar Recaps,

"The State Bank of Vietnam (SBV) started selling gold directly to four state-owned commercial banks today (June 3), aiming to lower the metal’s domestic price. The institutions will then sell the gold bars to the public."

This new monetary policy shift will continue as Vietnam attempts to narrow the difference between the domestic and global gold bar prices per SBV officials. It is an attempt to revalue gold through resetting its price.

This diversifies their people's portfolio, and it gives the banking system a broader strength to their accounts. In return, it gives the SBV an opportunity expand their net worth and give out loans.

Vietnam has been accumulating gold in order to join the BRICS Nations. One of the requirements is that they do accumulate gold to support their banking system.

Can you see where this is going now? Everything across the board from the markets, the banking systems, the shipping ports, and to the people are turning to gold to deflate an inflated economy.

Through Tokenized Assets, our Global Economies will have a real value on every product that can be bought and sold including Forex opportunities.

I look to see these opportunities begin to shift in July for Vietnam as they become a Market Economy. Can it happen before that time?  English News  Central Banking   English News 2  Wikipedia

We are about to find out.

© Goldilocks

~~~~~~~~~

We finally have some prices placed on the US Debt Clock. It has been empty for some time. In fact, many countries in the East have been wondering when those numbers would show up. Well, they are here now.

This doesn't mean that these are prices that are set in stone. It just means they are prices to work from going forward as our world resets the price of gold and reclassifies gold as money. https://www.usdebtclock.org/

Gold will set us free!

© Goldilocks

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It is the revaluation of Gold that will set the tone for the new economy. It will determine, to some degree, the price of all goods and services across all asset classes.

© Goldilocks

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MiCA Regulations Force Binance to Overhaul Stablecoin Services | Finance Magnates

"Starting June 30, 2024, the European Economic Area (EEA) will enforce new regulations under the Markets in Crypto-Assets (MiCA) framework, specifically targeting stablecoins. Binance, one of the world's largest cryptocurrency exchanges, plans to roll out changes to ensure compliance, impacting everything from trading to rewards.

Only regulated companies can issue and offer stablecoins, termed regulated stablecoins. Many existing stablecoins do not meet these criteria and will be designated as unauthorized stablecoins, facing various restrictions on Binance's platform, the cryptocurrency exchange said in a statement on its website."

Remember, stablecoins represent a country's currency. The new regulations will be going into effect on June 30th, 2024.

This will begin to determine new prices in the new digital economy regarding trade relations around the world.

An increase in demand for local currencies around the world that have moved from a dollar regimen to a local currency regiment will begin.

This is when credit valuation adjustments begin. It does not mean new rates will happen overnight. In fact, to determine new price correlations on the market requires algorithmic patterns to set in that become normalized.

Watch the water.

© Goldilocks

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EXCELLENT NEWS Iraq's Leap in Electronic Banking | Youtube

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Next generation correspondent banking | BIS

Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model.

The tokenization of correspondent banking, as embodied in Project Agorá (BIS (2024b)), could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures.

Tokenization could substantially reduce duplication and miscoordination, thereby revitalising cross-border payments by fostering a robust network of correspondents and corridors.

~~~~~~~~~

Russia and China 'close' to replacing SWIFT — business regulator. |  Azerbaycan24

👆  Goldilocks pointed to this article

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Sexy Bank Deals, Ripple Story, How to Distribute the XRP Escrow, When Smart Contracts on XRP Ledger | Youtube

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Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud - Fintech Singapore

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Event: Hearing Entitled: Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets |  Financial Services.House

When: Wednesday, June 5, 2024 9:00 AM in 2128 Rayburn House Office Building

What: Subcommittee on Digital Assets, Financial Technology and Inclusion

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UAE Central Bank Approves Issuance of Stablecoin Regulation | Cryptopolitan

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BREAKING NEWS

TURKEY SAYS BRICS COULD OFFER A GOOD ALTERNATIVE TO THE EUROPEAN UNION TO BOOST ITS ECONOMIC PROSPECTS

Awkward…      Read: Twitter

~~~~~~~~~

If Russia Accepts Gold for Oil, Gold Price Doubles to $3,600, Says Credit Suisse’s Zoltan Pozsar | BMG Group

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WATCH HERE

Power of copper = Free Healing

⚡️Copper + Gardening - Cultivate Elevate

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Summary / Status Iraqi Dinar ReValue IQD VND Exchange Rates | Youtube

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THE U.S. GOVERNMENT WILL REPLACE SWIFT WITH RIPPLE XRP | Youtube

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BOOOOOOOOOOOOOOOOOOM!!!

Brad Garlinghouse indirectly says that the case will end this summer with the payment of a fine in the millions, not billions.

#XRP would be the first FULLY regulated digital asset in the United States of America! | Twitter

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Could the Government Confiscate Your Gold when the Financial System Crashes?

Could the Government Confiscate Your Gold when the Financial System Crashes?

On June 2, 2024   By Awake-In-3D

Historical Precedents and Current Implications of Gold Confiscation Explained

The idea of gold confiscation by the government creates significant debate within the RV/GCR community, especially in the context of a potential collapse of the fiat currency system.

Could a scenario similar to the 1933 Executive Order 6102, which required the surrender of privately held gold, happen again today?

To answer this question, let’s examine the historical context of EO 6102, its actual impact, and whether such drastic measures could be realistically implemented in the modern financial landscape.

In This Article

• Historical Analysis of Executive Order 6102

• Mechanics and Enforcement of the Order

• Potential for Modern-Day Gold Confiscation

• Comparative Legal and Economic Perspectives

In 1933, President Franklin D. Roosevelt issued Executive Order 6102, which mandated the surrender of most privately held gold to the U.S. government.

Historical Analysis of Executive Order 6102

Executive Order 6102 was issued during the Great Depression to address severe economic instability and a lack of confidence in paper currency.

Under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933, EO 6102 aimed to prevent the hoarding of gold, which was seen as a barrier to economic recovery.

The order required citizens to surrender gold coins, gold bullion, and gold certificates to the Federal Reserve by May 1, 1933.

Exceptions included up to $100 in gold coins and gold for industrial, professional, or artistic uses, as well as rare and collectible coins. In return, individuals received paper currency valued at $20.67 per ounce of gold.

Mechanics and Enforcement of the Order

EO 6102 is often described as a gold confiscation order, but it was more accurately a nationalization of gold.

The government offered compensation for surrendered gold, thus avoiding outright confiscation without remuneration. The public’s compliance was largely voluntary, driven by trust in the government, patriotism, and fear of penalties.

Despite the order, enforcement was relatively minimal.

Economist Milton Friedman and Anna Jacobson Schwartz estimated that only 20-25% of private gold was surrendered. The government did not aggressively pursue those who ignored the order, focusing instead on achieving compliance through public cooperation.

Potential for Modern-Day Gold Confiscation

Given the historical precedent set by EO 6102, could a similar order be issued today if the fiat currency debt system collapses? While it is theoretically possible, several factors make it less likely:

1. Legal and Political Climate: The current legal framework and political environment differ significantly from those in 1933. Any attempt to confiscate gold would face substantial legal challenges and political opposition.

2. Public Reaction and Compliance: Today’s public is more informed and potentially more resistant to such measures. Trust in government institutions is generally lower, making voluntary compliance less likely.

3. Economic Alternatives: Modern economies have diverse financial instruments and mechanisms to address monetary crises. Measures such as quantitative easing and other monetary policies can be employed without resorting to gold confiscation.

4. Global Financial System: The global financial system is more interconnected and complex. The impact of a unilateral gold confiscation by one country could have broader international repercussions, making it a less viable option.

Comparative Legal and Economic Perspectives

The legal basis for gold confiscation today would require substantial legislative action.

The original EO 6102 was supported by amendments to existing laws that granted extraordinary powers during a national emergency. Replicating such a framework today would necessitate new legislation or amendments to current laws, which could be a contentious process.

The Bottom Line

Executive Order 6102 did mandate the surrender of most privately held gold in 1933, but it was not an outright confiscation without compensation.

The context of the Great Depression and the legal framework at the time facilitated this extraordinary measure. In today’s complex and interconnected financial environment, a similar gold confiscation order is unlikely.

The potential for such an action would face significant legal, political, and public resistance, making it an improbable solution to a fiat currency debt collapse.

Contributing Reference Links:

• Full text of Executive Order 6102 from 1933.

• https://www.moneymetals.com/news/2024/05/31/did-fdr-really-confiscate-everybodys-gold-003226

=======================================

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews

Follow me on Twitter: @Real_AwakeIn3D

“Tidbits From TNT” Tuesday 6-4-2024

TNT:

Tishwash: Al-Sudani: Iraq has many investment opportunities offered to international companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed, today, Tuesday, that Iraq has many investment opportunities offered to international companies.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “The latter received the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, they discussed bilateral relations between Iraq and the United Kingdom, and mechanisms for working to strengthen and expand them in various fields, in a way that achieves mutual benefit and interests.” shared between the two countries. 

The Prime Minister stressed that "Iraq has many investment opportunities presented to international companies, welcoming the participation of British institutions and companies in various sectors, especially the sectors of energy, industry, agriculture, and other vital sectors." link

Tishwash:  Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”  link

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CandyKisses:  Sudani suspends after approving 2024 budget schedules

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani expressed, on Monday (June 3, 2024), his thanks and gratitude to the House of Representatives for its efforts that resulted in the approval of the budget tables.

Al-Sudani said, according to a statement by his media office, received by "Baghdad Today": "With more appreciation and pride, we congratulate the responsible step of the esteemed House of Representatives, represented in approving the budget tables for the year 2024 , related to Law (13 of 2023), the law of the "Federal Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).”

He added: "We express thanks and appreciation for the efforts of the Presidency of the House of Representatives, political forces, parliamentary committees, and the Finance Committee, which completed the government effort, and what was previously approved in the Council of Ministers, represented in the budget tables (A, B, C, D, E, and f)."

He continued: "We reaffirm the continuation of the implementation of the government program, which received the vote of the Council of Representatives and the support of political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations of our Iraqi people and their demands that the government wishes to fulfill."

He added: "On this occasion, we call on the House of Representatives and provincial councils to support the work of the government by following up on the legislative and oversight effort, which our government institutions with all their arms and bodies consider as a support for their work, an evaluation of the path, and a guarantee against corruption, deviation and failure, just as we pledged to our people that there is no place for procrastination, nor courtesy at the expense of people's interests, preserving public money, and implementing service in all its names."

"We ask the Almighty God Almighty for success and repayment to obtain His satisfaction, glory be to Him, and to obtain the satisfaction of our honorable people."

************

Tishwash: Oil prices shock the markets and Brent falls to $77

Oil prices fell in early trading on Tuesday, continuing the losses of the previous session when prices fell to their lowest levels in four months, with investors concerned about increased supplies later in the year.

Brent crude futures fell 20 cents, or 0.3%, to $77.77 per barrel. Brent crude closed below $80 for the first time since February 7, after falling more than 3% yesterday, Monday.

US West Texas Intermediate crude futures fell 17 cents, or 0.2%, to $74.05, and closed near the lowest level in four months yesterday after falling 3.6%.

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as the OPEC+ group, agreed on Sunday to extend most oil production cuts until 2025, but left room to gradually cancel the voluntary cuts by eight members starting in October.

Signs of weak demand growth have also weighed on oil prices in the past few months, with a focus on data on fuel consumption in the United States.

The average price of gasoline in the United States fell 5.8 cents to $3.50 a gallon yesterday, Monday, according to GasBuddy data.   link

 Mot ..... Just ASaying -- bet Noone will Notice this Un!!!!  Almost summer

Mot: .. Dang - I LOL -- on dis un!!!  Hummingbirds

News, Rumors and Opinions Tuesday AM 6-4-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 4 June 2024

Compiled Tues. 4 June 2024 12:01 am EST by Judy Byington,

Black Swan Event:

Global Financial System Implosion Expected Around Sun. 9 June When Petrodollar Ends.

Gold To Kill The Fed.

Judy Note – The Storm: On Sunday 9 June 2024 the ending of the Petrodollar was expected to trigger a Black Swan Financial Event via a Global Financial Crash – that would usher in a Global Currency Reset to gold/asset-backed currencies of 209 nations. This would take away the Cabal’s control of the World’s Financial System that has been present since 1918 and give The People’s tax monies back to The People.

Timing:  (Rumors/Opinions)

On Sun. 9 June 2024 Black Swan Event Expected as the Petrodollar Ends and Global Financial System implodes since there was no longer a need for nations to hold US Treasuries as the Global World Reserve Asset in oil trade. The U.S. Treasury bond market is funded off the World needing dollar reserves aka bank derivatives (off balance sheet dollars). When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade. The Japanese Yen will hyper-inflate against their U.S. Treasury holdings. Japan will be forced to liquidate all their dollars

Global Currency Reset: (Rumors/Opinions)

Mon. 3 June 2024 TNT Tony: “It was supposed to happen Saturday night, but then it was to happen on Sunday due to a hiccup, and it is supposed to happen tonight.  So the real deal is that it did not go on Sunday, because the finance committee did not do their part in Iraq, did not do their vote. There was a small hiccup.  But as I have sent out on Twitter, the vote has gone through the finance committee and vote has gone through the House of Representatives. Those are the things we wanted to see.

We are hoping to see a rate, we know there is a new rate, and we know it is going through. All banks are HIGH HIGH alert.

They were told yesterday, but it took some time, as some bank contacts called me last evening and some in the morning, that they were all put on high alert starting last night through Thursday morning.

They said by Thursday morning, definitely, you are going to have people walking in your door, a bunch of brand new customers (that was yesterday). Talking to them today, they do have pending rates and some of them are saying we are waiting right now to be notified of the release of the 800 numbers. Let’s hope it happens. 

 Federal Reserve said they were just called in within the last hour. Everyone is to report to their station. Right now as we speak.  With all this excitement, everything is pending, and I will give praise where praise is due

Ray has been telling you guys about the Venezuelan Bolivar, rate predictions, right now, rate prediction for Bolivar on screen right now is 0.36 and is climbing. Ray predicts between 22 and 55. It is at 0.36 and climbing right now. It is on the bank screen at this time. 

Today is a good day. We have nothing to do but wait for the announcement. They are passing out money in Iraq. Activating projects. We are at a good time we just have to wait.  Not sure if it is 72 minutes or 72 hours. The rate has not been announced the rate there yet, but maybe they wait till Wednesday for the Gazette. But everyone I talk to they say they are trying to go anytime now. 

But we are there. The rates are good. Everyone is excited. So I hope you guys are ready.”

On Mon. Evening 3 June 2024 the Iraqi Parliament finally passed their budget with the new Iraqi Dinar International Rate in it.

~~~~~~~~~~

Mon. 3 June MarkZ: “The Iraqi Parliament passed the budget today. Folks are geared up for this week. I have been told by a number of them that they are ready and positioned.”

Fri. 31 May Wolverine: “I received an official notification from Brazil that confirmed the release order for Colombia, USA, Brazil. The representative of the Columbian project manager begins with his delivery protocols to his Tier4B. Leading representative internet group starts in June. I received another message from a very strong contact, a Whale, from Zurich, saying he got the same message. Reno – I have been told, is about to kick off.  So by next week, everything will be looking beautiful. The foundations are all funded. They are ready to go. This is not a rumor. This is fact that is coming through.

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Global Financial Crisis:

Mon. 3 June 2024: Multiple NYSE stocks have now been halted on volatility due to a technical issue. Berkshire Hathaway stock is currently down 99.97%.Warren Buffet just lost 99% of his wealth “due to a glitch in the Matrix.” Down $135B

Mon. 3 June 2024 FDIC Says 63 Lenders on Brink of Insolvency. https://dailyhodl.com/2024/06/02/517000000000-in-unrealized-losses-hit-us-banking-system-as-fdic-warns-63-lenders-on-brink-of-insolvency/

Mon. 3 June 2024: BOMBSHELL!!! GOLD WILL KILL THE FED, SILVER WILL BURY IT: How Basel III and IV Will Ignite the Precious Metals Market! – American Media Group (amg-news.com)

Read full post here:  https://dinarchronicles.com/2024/06/04/restored-republic-via-a-gcr-update-as-of-june-4-2024/

**************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Deepwoodz   Question:  "Don't they have a deadline for these budget things by June 9th?"  I think June 9th was slated as the end of their legislative session post extension. Time will tell as to the importance of it.

Militia Man  They're talking about a massive deficit...$210 trillion budget...It's insane.   They don't have that kind of money.  What are they doing? Now they're going to increase it?!?...And these guys have it on "agenda for a confirmed and imminent completion" of it [the budget].  There's something up folks because 1310 doesn't work.

LIVE! Vast Debt Expansion And Currency Devaluation WILL FURTHER DISTORT Asset Prices.

Greg Mannarino:  6-3-2024

https://www.youtube.com/watch?v=NemX8cgjYJI

Wave Of Central Bank Rate Cuts This Month, ‘Black Swan’ Still Looms | Axel Merk

David Lin:  6-3-2024

Axel Merk, CIO and President of Merk Investments, discusses the "signs of weakness" the economy is showing, as well as the impact of lower central bank policy rates on markets.

0:00 – Intro

 1:22 - Recession is 'black swan'?

7:55 - Fiscal policy and deficit

9:46 - Inflation and market reaction

13:19 - Central bank cuts

15:30 - Economic risks

17:30 - Outlook on stocks

22:00 - Gold and gold stocks

https://www.youtube.com/watch?v=onyUitqzYTc

Currency System Failure: The Japanese Yen Will be the First to Collapse: Awake-In-3D

Currency System Failure: The Japanese Yen Will be the First to Collapse

On June 1, 2024 By Awake-In-3D

Japan’s Record Spending Unable to Stop Yen’s Destruction

In This Article:

• Japan’s Record Yen Intervention

• Persistent Weakness of the Yen

• Potential Global Currency Crisis

• Expert Predictions on Future Interventions

The global fiat currency system faces unprecedented challenges, and signs of an accelerating collapse are becoming increasingly evident.

Central banks worldwide are grappling with inflation, volatile markets, and economic instability. Among these currencies, the Japanese yen stands on the brink of a historic downfall.

As the first major fiat currency to face a potential collapse, the yen’s struggles could mark the beginning of a broader crisis, signaling the final phase of the global fiat currency debt system’s demise.

Japan’s Record Yen Intervention

Japan’s finance ministry disclosed spending ¥9.8 trillion ($62.2 billion) from April 26 to May 29 to support the yen.

The intervention, focused on April 29 and May 1, exceeded estimates of ¥9.4 trillion. Despite this massive expenditure, the yen’s value remains critically low. The yen’s rapid decline forced Japan to take drastic measures, highlighting the severe instability of the currency.

THIS CHART SHOWS HOW JAPAN’S MASSIVE YEN INTERVENTION IN EARLY MAY (GREEN ARROW) HAS COMPLETELY FAILED OVER THE PAST 30 DAYS (RED ARROW).

Persistent Weakness of the Yen

Despite significant intervention efforts, the yen remains weak. During the interventions, the yen briefly dropped to 153 against the dollar but soon returned to around 157.

This continued decline indicates the diminishing power of such interventions. Factors like the strong U.S. economy and delayed Federal Reserve rate cuts contribute to the yen’s persistent weakness.

The currency’s instability poses a serious risk to Japan’s economic health.

Potential Global Currency Crisis

The yen’s decline could signal broader issues in the global fiat currency system. Japan’s intervention highlights the challenges of defending a weakening currency amid global economic pressures.

As the yen struggles, speculators may push it further down, testing the Bank of Japan’s (BOJ) limits. This situation could trigger a significant currency crisis, affecting global markets and economic stability.

Expert Predictions on Future Interventions

Experts are divided on the effectiveness of Japan’s interventions. Hideo Kumano, a former central bank official, believes that while interventions have not reversed the yen’s decline, they have slowed it. Daisaku Ueno, chief FX strategist at Mitsubishi UFJ Morgan Stanley Securities, expects continued spending to prop up the yen, emphasizing Japan’s resolve to mitigate imported inflation.

Finance Minister Shunichi Suzuki has issued warnings of further interventions to counter excessive volatility. With the yen trading around 157.235 per dollar, the effectiveness of additional interventions remains uncertain.

Analysts, including Mizuho Securities’ Masafumi Yamamoto, suggest that Japan might intervene again if the yen experiences sharp declines. The potential for further interventions raises concerns about the yen’s long-term stability.

The Bottom Line

Japan’s unprecedented $62 billion intervention to support the yen has failed, highlighting the currency’s vulnerability.

As global economic pressures mount, the yen’s decline could signify a broader crisis in the fiat currency system.

Japan may continue its intervention efforts, but the long-term outlook for the yen remains bleak, marking the onset of a significant currency crisis. The global economy must prepare for the repercussions of this instability.

Supporting Article: https://www.markets.com/news/japanese-yen-weakness-persists-despite-dollar62bn-intervention/

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Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Daniela Cambone:  6-3-2024

“If you have to go back to a gold standard, yeah, $27,000 would have to be the [gold] price in order to avoid massive deflation,” says Jim Richards, New York Times bestselling author.

He explains to Daniela Cambone that it’s “more likely” we will return to the gold standard as people lose confidence in fiat currency.

 Moreover, as the money supply skyrockets while the supply of gold remains the same, the price of gold is propped up. He also states the danger when Russia reiterates the West by suing Euroclear, the largest clearing, settlement, and custody organization in Europe.

CHAPTERS

00:00 Going back to gold standard

4:18 Likely of going back to gold standard

https://www.youtube.com/watch?v=t49iE4BaVs4

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Good Evening Dinar Recaps,

Qatar Central Bank Announcement | QNA

Doha, June 02 (QNA) - "Qatar Central Bank (QCB) announced on Sunday the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC)."

Now, they are able to settle their digital payments in local and International Banks. They will be testing more applications going forward, and they will be able to settle in large quantities as well.

Currently, they are in their experimental phase that is expected to last until October this year. It will encompass various tokenized assets in the market and portfolios inside the banking system.  QNA

© Goldilocks

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"Louisiana Reaffirms Gold and Silver As Legal Tender"

Louisiana is the latest of many states that have gone through the legislative process to confirm that gold and silver are now considered legal tender and cannot be taxed.

This allows new monetary policies to form an expansive view of precious metals now being incorporated into the payment system as a form of legal tender.

On May 8th, 2024, "U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion."

The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League is currently on the table to consider precious metals on par with the US dollar.

This will keep money in the hands of the people instead of the federal government who want to grab capital gains tax on the use of what was formerly known as a solid payment system.

At the present time, 40 States have passed some form of Sound Money legislation. The next step is to take these new measures to the Federal Government.  Morning Star  Money Metals  Congress  Forbes

Gold will set us free!

© Goldilocks

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The following is a list of recent bank mergers and acquisitions that are currently taking place. This list grows daily, and you can refer to it anytime you like through the link below.

We have talked about this as being part of the end game when we move from Fiat to Gold for the last 3 years.

The banking system is currently in a liquidity crisis that is not being talked about, and many changes are taking place behind the scenes.

I see these bank mergers as part of the process that will move our money into a safer Financial System than before, and one that will meet the needs of the next stage of our evolution financially and spiritually.   iBanknet

We are truly witnessing the rebirth of a Global Nation.

© Goldilocks

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"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window"

Iraq is narrowing down the list of companies they will be working with going forward in the buying and selling of their foreign currency.

Many companies buy and sell foreign currencies from around the world. Some companies even go so far as to have some of their people travel to buy currencies from around the world such as Banknote World.

The need for these entities is going away with the new digital banking system. The move to an electronic banking system will soon make these services obsolete after our exchange.  CBI   Bank Note World
© Goldilocks

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READ HERE

file-171741265259795.pdf

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A financial storm is coming that governments cannot fight | Finance Yahoo

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Aeroponic Farming in India: Simplest and Best Guide Ever | Times of Agriculture

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Ahmed AlKiswani, Qatar Financial Services Sector Leader, PwC Middle East commented: “Qatar is strategically positioning itself as a leading FinTech hub in the Middle East and a pioneer in digital transformation and sustainability within the financial services sector. | PwC

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USD3 Announcement | Crypto Reporter

Fintech company  Stable.com announced the launch of USD3, its 1:1 backed stablecoin, declaring its determination to disrupt the current stablecoin landscape and bring serious competition to existing industry players.

USD3 is a US-dollar extension for global commerce and Web3 and the first stablecoin developed with a programmatic layer in mind and a full suite of payment capabilities and tools. It will act as the digital, tokenized model for fiat money for developers globally building protocols, smart contracts infrastructures, and applications on top of blockchain and will provide them with a solution that is interoperable, safe, trustworthy, and can be used and contributed to by everyone.

It will tremendously simplify life for developers, thanks to how easily it can be integrated into dApps and its ability to speed up fund movements, thus driving the industry further on towards its goal of a more open financial system and creating new use cases. Businesses will leverage USD3 to streamline payments globally and simplify access to crypto capital markets.

USD3 will launch on Ethereum, Polygon, Avalanche, and Linea, and will be supported by a variety of ecosystem leaders.

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‘Hundreds of Trillions’– Sergey Nazarov Says 2024 Is Year Crypto and Global Financial System Merge - The Daily Hodl

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Here’s Everything You Need To Know About Banking-as-a-Service | Inc42

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Currently, we are witnessing the merging of the new digital economy backed by gold. It is a Gold Standard formulated through Digital Protocols.

Both Gold and Digital Assets are in their final phases of legislative development and completion.

Enjoy the show.

© Goldilocks

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VaultChain Gold  | Kitco

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LAST WARNING: China Is Ready to Reveal the ENDGAME & Gold Prices Will Soar - Alasdair Macleod  | Youtube

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In 1912, American financier and investment banker J.P. Morgan said, “Gold is money. Everything else is credit” during his testimony before Congress.

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"Recently, the U.S. Federal Reserve received multiple suggestions regarding the use of XRP in a public questionnaire about CBDCs, prompting speculation about the potential integration of this cryptocurrency into the Federal Reserve’s operations." | The Crypto Basic

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Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Notes From the Field By James Hickman (Simon Black) June 3 2024

Next month will mark 80 years since the US dollar was formally anointed as the world’s reserve currency.

It was July 1944. And with the war in Europe near its denouement, governments were already trying to plan what the postwar world would look like. Most urgently, they needed to figure out how to rebuild their devastated economies.

Just think about the mess they were in: nearly every industrialized country in Europe had been destroyed by war. Manufacturing and farming were both in the dumps, and they had very little savings to invest in economic revival.

They also had a gigantic mess when it came to international trade. Dozens of countries each had their own currencies, so commercial trade meant each government keeping 20-30 currencies in reserve.

France, for example, would have to hold Austrian schillings, British pounds, Spanish pesetas, Italian lira, Dutch guilders, Soviet rubles, etc. in reserve, just to be able to trade.

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A much, much simpler solution was for every country to use the same currency to trade with each other. And there was no question about which currency would be the right choice: the US dollar.

In 1944, the United States still had a strong and powerful economy. It had robust capital markets and a well-developed financial system. It was the only country left standing.

So, representatives from more than 40 nations gathered that summer in picturesque Bretton Woods, New Hampshire and formally agreed to use the US dollar for international trade and commerce.

More specifically, each country fixed its exchange rate to the US dollar, while the US dollar was fixed to gold.

It only lasted about thirty years. By the early 1970s, the original Bretton Woods deal had been completely undone. Currencies floated freely against each other (including the dollar), and the US dollar terminated its link with gold.

And yet (thanks in part to Saudi Arabia agreeing to sell oil in dollars), the US dollar has continued to remain the dominant reserve currency through today.

For the most part that was still a sensible bet; the US has been the world’s #1 economy for the past five decades. But the cracks are obvious.

The US federal debt is a national embarrassment. At $35 trillion, the debt is far larger than the entire US economy… and it gets worse every year.

The US government is also completely dysfunctional. The vitriol and enmity, among the parties and within the parties, is so extreme that virtually nothing productive or beneficial ever takes place. The business of government now is merely two sides screaming that the other is a threat to democracy.

The President barely knows where he is half the time, and the other half he spends shredding the Constitution to engage in some anti-capitalist, inflationary, fanatical woke climate agenda.

Sadly, this isn’t a one-time blip. America’s governance and finances have been deteriorating for most of this century-- starting with the endlessly expensive War on Terror, through the free-spending Obama years, to the pandemic… and now the very real prospect that the next four years could look very similar to the previous four years.

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America is supposed to be a reliable, stabilizing force in the world. But today’s America has lost its grip. And foreign nations have noticed.

Most people alive today don’t remember a world in which the dollar wasn’t #1 and therefore cannot fathom a world in which this is no longer the case. But it’s irrational to assume that something will continue indefinitely, forever, simply because of the status quo today.

It’s not 1944 anymore. Back then there were no other options… and no one who even came close to rivaling the military and economic superiority of the United States.

Today both of those are in decline. It’s not to say the military can no longer fight or that the economy is in complete shambles. But America no longer has the unrivaled position it enjoyed for so long.

More importantly, the trend isn’t looking good. From an economic perspective, the national debt is set to increase by another $20 trillion over the next decade… likely triggering a nasty run of stagflation like the US experienced in the 1970s.

The US military, meanwhile, continues its downward slide. Recruitment is absolutely abysmal. Key weapons systems, fighter jets, tanks, and naval vessels are borderline obsolete.

The US Navy’s fleet of ships and submarines (which would be critical in any conflict against China) is the oldest and smallest it’s been since the end of World War II. Nearly 1,000 military aircraft will be retired from service in the next five years alone, and there is no concrete plan to replace them.

Nor is there any money to do so.

Frankly it is exceedingly difficult to believe that, in light of America’s declining power and prestige, the rest of the world will continue accepting the US dollar as the global reserve currency for much longer.

We’re already seeing signs of this change; plenty of countries are starting to trade with one another in different currencies, including Chinese renminbi and Indian rupee, and this trend will likely accelerate over the next several years.

I think it’s even possible there could be an event of some sort-- perhaps the US government defaults on its debt, or there’s even a shooting war or cyberattack-- which triggers a new Bretton Woods style conference.

The key difference between now and 1944 is that there was only one option back then-- the US. And pretty much everyone had confidence in America.

That’s not the case today. Few rational people have the same level of confidence in the US government. Yet almost no one trusts the Chinese either.

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But just like 1944, there is an obvious solution… and one that everyone already trusts: gold.

Nearly every country already holds gold as a reserve asset, so there would be very little change to the way they currently do business.

I’ve written about this before-- I believe this is why so many central banks around the world have been on a gold-buying spree. In fact, this is THE reason why gold is near its all-time high: central banks have been buying it by the metric ton.

You have to understand that central banks aren’t speculators. They don’t care about price. They buy for strategic reasons… and I believe that the central bank gold purchases that have been occurring over the past few years are a key sign that the global financial regime will be changing.

Individual investors, meanwhile, have been selling gold.

North American investors have sold off more than $4 billion worth of gold ETFs in the first four months of this year, with $2 billion of that just in the month of April. And gold ETF holdings are now at their lowest level in four years.

Central banks are buying. Individual investors are selling. It seems pretty clear that people aren’t paying attention to the warning signs.

Yes, gold is near its all-time high. But that doesn’t mean it can’t go much higher… especially if there’s a catalyst. And there absolutely is.

As a final point, I would point out again that even while gold is near its all-time high, shares of high quality, profitable, dividend-paying gold miners are laughably cheap.

That’s because central banks only buy physical gold bullion (which has pushed up the price of gold). They do not buy gold stocks… hence many of these businesses are available for outrageous bargains.

To your freedom,   James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/gold-will-soon-displace-the-us-dollar-and-americans-are-missing-out-151007/