More News, Rumors and Opinions Friday Afternoon 4-2-2021
.KTFA:
Samson: The Iraqi economy: from a financing crisis to an exchange rate crisis
31st March, 2021 by Dr. Haider Hussain Al Tohme
The Iraqi economy has gone through critical financial pressures at the beginning of the year 2020 due to the collapse of oil prices in global markets and the decline in oil revenues to below the rates that are printed on the general budgets in Iraq.
Because of the high expenditures of the Iraqi state, the available financial resources were unable to secure sufficient funding to cover the salaries of employees, prompting the government to replace the 2020 budget draft with a borrowing law consisting of (15 trillion dinars for current expenditures and $ 5 billion for investment expenditures) granting the government the ability to finance employee salaries and some necessary expenditures for the purpose of The month of last September.
KTFA:
Samson: The Iraqi economy: from a financing crisis to an exchange rate crisis
31st March, 2021 by Dr. Haider Hussain Al Tohme
The Iraqi economy has gone through critical financial pressures at the beginning of the year 2020 due to the collapse of oil prices in global markets and the decline in oil revenues to below the rates that are printed on the general budgets in Iraq.
Because of the high expenditures of the Iraqi state, the available financial resources were unable to secure sufficient funding to cover the salaries of employees, prompting the government to replace the 2020 budget draft with a borrowing law consisting of (15 trillion dinars for current expenditures and $ 5 billion for investment expenditures) granting the government the ability to finance employee salaries and some necessary expenditures for the purpose of The month of last September.
Given the continued decline in oil revenues, the government was forced to submit a new borrowing bill (worth 12 trillion dinars) to finance public expenditures until the end of 2020. Both loans were financed through the Central Bank and indirectly by deducting treasury transfers, sold to banks and discounted at the Central Bank, which amounted to about (26) trillion dinars, which raised the internal debt from about (35) trillion in 2015 to nearly (64) Trillion in 2020.
The House of Representatives has stipulated that the government’s fiscal deficit be financed by borrowing, the government’s presentation of an integrated reform program that will be a framework for the 2021 budget to ensure that financial and economic reform is firmly implanted in the strength of the federal budget.
The government submitted the reform paper (the white paper) before the end of the year 2020 to the House of Representatives with guarantees that the general frameworks for the paper would be gradually adopted until the final goals of the reform, represented in diversifying the Iraqi economy, developing the private sector, maximizing non-oil revenues, and other broad economic and social goals.
The House of Representatives stipulated that the government’s fiscal deficit should be funded by borrowing the government’s submission of an integrated reform program that would be a framework for the 2021 budget to ensure that financial and economic reform is firmly implanted in the strength of the federal budget.
2021 budget and exchange rate change
The exchange rate crisis erupted after the leak of the initial draft of the 2021 budget project and the adoption of a new exchange rate by the Ministry of Finance that would help finance the huge gap between government expenditures and revenues. As the financial pressures facing the Iraqi economy in 2020 prompted the Ministry of Finance to raise the exchange rate of the Iraqi dinar in the federal budget 2021 to (1450 = $ 1) instead of (1182 = $1), in order to maximize government revenues from the export of Iraqi oil by about (10 One trillion dinars. However, the justifications of the Ministry of Finance were not convincing, and the figures in the budget did not match the critical financial dilemma that Iraq is going through, nor the broad promises promoted by the White Paper on financial and economic reform. Government expenditures in the draft 2021 budget have skyrocketed, which does not match the available financial resources nor the purported control and rationalization trends in the white paper. As the total public expenditures amounted to (164) trillion dinars, with total revenues of boat (93) trillion dinars, representing oil revenues (73) trillion dinars and non-oil revenues (20) trillion dinars. Thus, the total planned deficit is (71) trillion, which constitutes (43%) of the total estimated expenditures and an increase of (158%) over the planned deficit for 2019.
Oil and the exchange rate crisis
Just as the collapse of oil prices pressed the exchange rate of the dinar to achieve a financial goal (maximizing oil revenues) and a monetary goal (reducing dollar sales and maintaining the dollar reserve at the central bank), the price recovery also pressed the exchange rate, but this time in the opposite direction, and for political reasons, mostly.
During the past month, Iraq achieved oil revenues that exceeded (5) billion dollars, with an average oil price of (60) dollars per barrel, which maximized government revenues and contributed to the high voices calling for a return to the old exchange rates (1200 = $ 1), after the need to reduce The value of the dinar to finance the government fiscal deficit gap. And also in order to counter the wave of price rises that the local markets witnessed recently, and in excess of the reduction rate, as a result of weak government control and the greed of merchants and suppliers by exploiting the high exchange rate to inflate prices. The exchange rate has become a heavy meal for the Iraqi media, especially with the end of the countdown to approve the budget, the approaching election season, and the increasing fever of auctions and political drop between the political blocs and parties in Iraq. For the exchange rate to generate a new political crisis in addition to the accumulated and widening economic and social crises since 2003.
The repercussions of reducing the exchange rate
Despite the difficulty of timing in which the monetary shock was passed on to the economy, the restoration of political pressure on the central bank and the government to restore the exchange rate to its previous level, usually for electoral purposes, faces several obstacles, the most important of which is the legal obstacle. The 2021 budget, if done, given that determining the exchange rate is within the authority of the Central Bank in accordance with Article (4) of the amended Central Bank of Iraq Law No. (56), which stipulates the exclusive responsibility of the Central Bank in formulating and implementing monetary policy and exchange rate policy in Iraq.
The Federal Court ruled in 2015 in favor of the Central Bank in the appeal submitted by the latter against the parliament’s decision to add Article (50) to the 2015 budget, which obliges the Central Bank to determine the ceiling for the bank’s dollar sales not to exceed $ 75 million per day.
On the other hand, changing the exchange rate again, and under political pressure, weakens the independence of the Central Bank and thus loses confidence in monetary policy in Iraq and has negative repercussions on the business climate in the country. Also, returning the exchange rate to its previous level does not guarantee the return of price levels to their initial rates due to the inelasticity of prices towards decline, especially in the Iraqi economy.
What makes the matter more dangerous is the introduction of exchange rates into the global oil price cycle, as raising and lowering the exchange rate in response to the decline and rise in oil prices in global markets increases the dependence of the Iraqi economy on the oil resource and doubles the chances of external shocks infiltrating the country through financial channels (the general budget) and channels Monetary (exchange rate), and thus threatening the Iraqi economy with double economic shocks (financial and monetary) that increase the existing economic imbalance and link financial and economic stability to fluctuations in oil prices in the future. LINK
Courtesy of Dinar Guru
Pimpy If they know they printed out X amount of dinars but they can only account for a small amount of it you can't do a rate change. Let's say that 85% of all the outstanding dinar is exchanged at around the same time it would crash the economy. Let's say you can account for 94-96%...it's easy to reinstate the old rate because you know there's a small amount of dinar out there that you are going to have to account for as far as the rate change is concerned...we know that the money was missing. We know that Al-Kazemi was investigating that. That's all public knowledge. We also know that they're doing what they can right now to recover that money...What is the other option? [post 1 of 2...stay tuned]
Pimpy Well they can't afford the other option - to say look this currency is no good. Discontinue it and print a new currency. Can't do that. It affects the public and they can't afford to do that. But if you're being told by your investigator 'Hey look...we know based on our investigation we can recoup maybe 94-96% of the money.' That's acceptable ...as much as they've recouped, I don't want to do dates...We'll see what happens...I don't think it's going to take as long as you people think, it really isn't... [post 2 of 2]
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Silver: How High Can It Spike? Mike Maloney, Jeff Clark & Adam Taggart
Premiered 22 hours ago
How high can silver spike, and how long can these spikes last? Join Mike Maloney, Jeff Clark and Adam Taggart as they examine this topic and more in today’s video update.
Fleming, TNT and Lynette Zang Wednesday PM 3-31-2021
.Fleming Wednesday RV Update
Our military intel contact is confirming Mr. Fleming's sources and Iraqi news sources saying that today Wed 31 March, Iraq did publicly pass the budget, which means the Dinar RV rate was passed within the budget, and our guy said that just before 2 pm EDT today Wed 31 March, DoD and UST gave the green light to move the release process forward.
He said that many banks and bankers are expecting the T4B notifications and secure links for 800#s to come out in the next 24 hours, according to the Wed 24 March World Court ruling.
But he said that they may start T4B as early as tomorrow Thu 1 April—however he said that the military govt have been negotiating with the World Court behind the scenes regarding T4B START AND LIQUIDITY START TIMING, GIVEN THE DEEP STATE WAR STILL BEING WAGED (SEE #3 BELOW):(edited)
Fleming Wednesday RV Update
Our military intel contact is confirming Mr. Fleming's sources and Iraqi news sources saying that today Wed 31 March, Iraq did publicly pass the budget, which means the Dinar RV rate was passed within the budget, and our guy said that just before 2 pm EDT today Wed 31 March, DoD and UST gave the green light to move the release process forward.
He said that many banks and bankers are expecting the T4B notifications and secure links for 800#s to come out in the next 24 hours, according to the Wed 24 March World Court ruling.
But he said that they may start T4B as early as tomorrow Thu 1 April—however he said that the military govt have been negotiating with the World Court behind the scenes regarding T4B START AND LIQUIDITY START TIMING, GIVEN THE DEEP STATE WAR STILL BEING WAGED (SEE #3 BELOW):(edited)
Because of this he said that they may release our T4B notifications as early as tomorrow Thu 1 April, but for various reasons, they may also release the shotgun start along with our T4B notifications by next Tue 6 April—some of these reasons may be the following:
(1) Isaac in Zurich was told that liquidity to T3-4A bond sellers would not be released this week but only the week of Mon 5 April forward;
(2) In spite of this, redemption centers are ready for us in T4B RIGHT NOW THROUGH THE REST OF THIS WEEK—his info is the same as Bruce’s that the redemption center staff are in the redemption centers today Wed 31 March, and Thu, Fri, and Sat 1-3 April from 9am to 8pm; BUT next week the redemption centers will be staffed for longer hours from 8am to 8pm daily Tue to Sat 6-10 April—according to this schedule T4B redemptions for the higher contract rates in the redemption centers will be OVER by Sun 11 April.
(3) The Evergreen tanker with its shipping containers blocked the Suez Canal from last Tue 23 March day before yesterday Mon 29 March—this was the Deep State trying to increase the global economic and market implosion by blocking $9.6 billion (12%) of global trading through the Suez Canal—THIS COST US ABOUT A WEEK’S DELAY—he said THIS WHOLE RV/GCR RELEASE HAS BEEN A MILITARY MISSION AND THIS HAS BEEN PART OF THAT WAR.
(4) The NESARA / GESARA implementation of the debt jubilee public debt payoff packages will be initiated next week and the rest of the $1.9 Trillion stimulus bill direct deposits and checks, which were paused till last weekend, started up again and are expected to be finished this week—THIS MAY OR MAY NOT HAVE SOME BEARING ON OUR T4B TIMING.
5) The Starlink satellite quantum internet system will be fully operational, as Bruce said and our guy confirmed, by next Wed 7 April— THIS MAY OR MAY NOT HAVE SOME BEARING ON OUR T4B TIMING.
(6) The paymasters who were told last week to get into position at their banking redemption centers globally, were in place by this past weekend, and THEY WERE TOLD [a] TO PACK 2 (TWO) WEEKS WORTH OF CLOTHES indicating this week and next week for the shotgun start and T4B start, THEY WERE TOLD by bankers & UST THAT [c] THIS IS IT and [d] THERE IS NO GOING BACK— [e] THEY SAID THEY HAD NEVER BEFORE BEEN TOLD “THIS IS IT” and “THERE IS NO GOING BACK.”—SO WE ARE AT THE END OF THIS WAITING, as also indicated by IRAQ PUBLICLY PUTTING OUT THE NEWS THAT THEIR BUDGET (with RV rate in it) HAS BEEN PASSED TODAY WED 31 MARCH.
He recommended keeping prayers going over the T4B notifications, and prayers that the Deep State would finally be defeated for good and out of the way of the release, and that we in T4B stay ready for starting as early as tomorrow Thu 1 April through next week.
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TNT:
Speedy: They passed the Budget !!!
Longhaul: With the Dinar at 1450 does that work in our favor?
RVAlready: No, dinar at 1450 is awful. We are waiting for new rate from CBI
Annie68: Do you all want to wait to see it the Gazette?? It doesn't come out again until Saturday…..Ray just said we don't need to see it in the Gazette...all we need is for the CBI to give out the rate.
RVAlready: Everybody is looking for something between .50 and 6.00, depending on which country ( US or Iraq) you are talking about. CBI should announce something shortly. I hope for tomorrow morning, Iraq time.
MountainMole: Well this could be a very short night. If this pops early in the morning, not many would believe us thinking it’s April Fools Day.
SDR, INVESTING & CURRENCY RESET...Q&A WITH LYNETTE ZANG & ERIC GRIFFIN
Streamed live 2 hours ago
Viewer Submitted Questions:
Question 1: 1:25 What will the effect be of IMF’s increase in Special Drawing Rights? It seems like they created a new layer of money out of thin air.
Question 2: 3:51 Do you think they will try to reset the currency against SDRs rather than gold?
Question 3: 7:32 We’ve got some money in gold and silver, have some cash in the bank, but the majority of our savings is in IRA’s and 401k’s that we don’t need to touch for 5 or 6 years. We’ve thought about moving some of this money into precious metals IRA’s. We know it is not out of the system but with all things considered, is this better than nothing?
Question 4: 12:51 You talk about playing the cup and then investing on the other side. What is the best way to sell precious metals if you hold them or store them in an IRA?
Question 5: 14:40 Why has gold not gone up in times like this? This is the PERFECT environment for gold to rise, and it hasn't!
News, Rumors and Opinions Wednesday Afternoon 3-31-2021
.TNT:
Tishwash: After months of controversy, the Iraqi parliament approves the 2021 budget after increasing it
The Iraqi parliament approved, on Wednesday, the draft general budget bill after months of obstruction due to controversial paragraphs that almost led to political conflicts, adding more complexity to the political scene in the country.
Parliament raised the size of the general budget for 2021 before its approval to more than 101 trillion Iraqi dinars, or about $ 69 billion, up from the government's estimate of 96 trillion Iraqi dinars.
Parliament has also raised operational expenditures, proposed by the government, to ninety trillion dinars, making the total deficit after accounting for other expenditures amounting to more than 28 trillion dinars, according to a copy of the draft budget published by the official Iraqi agency.
TNT:
Tishwash: After months of controversy, the Iraqi parliament approves the 2021 budget after increasing it
The Iraqi parliament approved, on Wednesday, the draft general budget bill after months of obstruction due to controversial paragraphs that almost led to political conflicts, adding more complexity to the political scene in the country.
Parliament raised the size of the general budget for 2021 before its approval to more than 101 trillion Iraqi dinars, or about $ 69 billion, up from the government's estimate of 96 trillion Iraqi dinars.
Parliament has also raised operational expenditures, proposed by the government, to ninety trillion dinars, making the total deficit after accounting for other expenditures amounting to more than 28 trillion dinars, according to a copy of the draft budget published by the official Iraqi agency.
The government calculated the price of a barrel of oil on the basis of 42 dollars per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to 45 dollars, using the Iraqi currency in assessing the price of a barrel instead of the dollar, which ended a major political debate about the restoration of government support for the value of the dinar. Iraqi against the dollar.
With regard to the Kurdistan region of Iraq, the budget obliged the region to pay at least 250 thousand barrels per day of oil field production in the Iraqi region to the Iraqi government for export in exchange for paying the salaries of public employees in the region and settling the dues between the two sides "after being audited by the Office of Financial Supervision."
The Iraqi Public News Agency said, "Parliament has deleted Article 20 of the draft budget law, which deducts taxes from the salaries of ministers and parliamentarians and special grades of 40 percent for the heads of the three presidencies, the Judicial Council and their deputies, and 30 percent for ministers and deputies and those of their rank and those who receive salaries equal to their salaries, and taxes are deducted." From the salaries of employees whose monthly income exceeds one million Iraqi dinars (about $ 700) by ten percent, and "withholding" taxes on end of service and retirement benefits.
Article Twenty large sums are deducted from the salaries of special grades .. A copy of the Iraqi News Agency
Parliament removed the thirty-eighth article of the draft law, which requires ministries and government departments to open the door for investment to the private sector, and to transfer percentages of investment returns to the state treasury.
Article 38 proposed in the draft budget .. Source: Iraqi News Agency
Parliament postponed the vote on an article related to converting agricultural lands into residential land, which includes large areas of agricultural land around cities that have been unofficially converted into housing.
Parliament has removed articles 42 and 43 pertaining to allowing the government to sell residential real estate and launch tourism investments, and Article 47, which provides for the evaluation of the assets of the property of official institutions in preparation for "selling or renting them."
Parliament added new articles to the budget related to granting governors investment powers in their governorates and obligating the government to send the names of "persons assigned to the positions of heads of independent bodies, special ranks, secretaries of ministries and advisors" to the House of Representatives for approval, in what appears to be an attempt to end the system of "appointment by proxy" that allows the appointment of personalities for these positions Without a vote by Parliament. link
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KTFA:
Don961: AFTER WEEKS OF DELAY, IRAQ’S COUNCIL OF REPRESENTATIVES PASSES BUDGET FOR 2021
SULAIMANI — After weeks of delays caused by disagreements between the political parties, Iraq’s Council of Representatives passed the Federal 2021 Budget Law on Wednesday (March 31) .
The session was scheduled for 1 p.m. but was delayed because of a lack of quorum. Voting began at 4:30 p.m. in the presence of 215 lawmakers out of 325 and concluded at 8:00 p.m.
The legislation set the price of a barrel of oil at $42, well below current Brent prices.
Among the major sticking points was the devaluation of the Iraqi dinar. The legislation set the US dollar peg at 1,450 Iraqi dinars.
After several hours of voting, lawmakers approved Article 11 of the legislation, which governs the Kurdistan Region's share.
It will receive 9.5 trillion Iraqi dinars ($6.5 billion), which will be disbursed in monthly increments, in return for submitting 250,000 barrels of crude oil per day to Iraq's oil marketer SOMO for export. The federal government will be able to cut off funds in the event of non-compliance.
A number of Kurdistan Regional Government (KRG) officials, including KRG Deputy Prime Minister Qubad Talabani, were present at the Council of Representatives during the latter stages of the vote on the legislation to observe. Talabani led many of the talks aimed at hammering out the deal between Erbil and Baghdad.
Lawmakers voted against Article 20 of the law, which would have introduced an income tax on the salaries of public sector workers, or Article 38, which deals with investment. Article 41 was tabled for consideration at a later date.
Also on the agenda is the presentation of a request submitted and signed by 172 lawmakers on whether to dissolve parliament early, but the meeting concluded without taking up the measure.
Before to the session, the Shia bloc held a meeting at the house of Hadi al-Amri, the head of the Fateh Alliance, to coordinate. The Finance Committee held a separate meeting to amend some of the provisions in the draft and ready it for the vote.
The parliament’s media office said in a statement on Tuesday that the names of attendees and absences will be published publicly.
(NRT Digital Media)
This story was updated at 8:07 p.m. EBL LINK
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DCDriver: we may see the new rate after the meeting on the 7th with the United States
Godlover: May very well. I will add, the POI (President of Iraq) has up to 15 days to sign budget into law. I continue to look for what is revealed in the opening of the budget. What it is opened at, that's what it will be for the remainder of the year imo. Thank God they finally passed the budget & soon enough we will see where we stand.
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Don961: Budget 2021 .. Parliament votes on the exchange rate article, the price of a barrel of oil, and the Kurdistan share
3,496 Policy 2021/03/31 18:10
Baghdad Today - Baghdad
At the beginning of its session for this day, the Iraqi parliament voted on the first article, which included in its paragraphs the exchange rate and oil barrel in the 2021 budget, as well as Article 11 regarding the share of the Kurdistan region at a later time.
A representative source told (Baghdad Today) that "the first article that was included in the draft budget bill before the vote was a paragraph stipulating the adoption of the exchange rate of 1450 dinars against the dollar and the price of a barrel of oil was set at 45 dollars, which was voted on, which means passing these two prices."
Meanwhile, the House of Representatives ended voting on the first 11 articles in the federal budget for this year, including the Kurdistan region’s share.
The text of the Kurdistan share article
And a member of the Finance Committee, Majid Al-Tamimi, announced the vote on two important paragraphs of the 2021 Budget Law, which are currently being voted on in the Council.
Al-Tamimi said on her Facebook page, "The council voted on the 11th paragraph, which obliges the Ministry of Finance to provide the necessary financial allocations for the development and reconstruction of Sadr City."
She added that the council "also voted on Article (2 / First, Paragraph 8) concerning the petrodollar fund for the provinces producing crude oil, refined oil or gas."
Before that, Member of Parliament, Representative Hassan Khatti, said today, Wednesday, that there is a general agreement between the blocs to pass the budget at today's meeting.
Khatti said in a televised interview that she followed (Baghdad Today) that "there is a general agreement to pass the budget and to transfer the controversial materials or to keep it without a vote," noting that "the currently controversial articles are represented by the share of Kurdistan, foreign loans and the exchange rate, and the last has not yet been resolved and the voting paragraph on the exchange rate." Current postponed. "
He added that "the disputed points will be reviewed during the session and may be modified and included in the vote, and there are two tracks in the House of Representatives regarding the exchange rate. The first puts the matter in the hands of the government and the second says that Parliament is able to amend and we hope to reach an average exchange rate, and the file will be the subject of discussion in the session."
The House of Representatives began a short while ago to vote on the draft general budget bill for 2021, The Media Department of the House of Representatives stated that the parliament held a session to vote on the budget in the presence of 215.
Before that, the representative of the Saeron Alliance, Ghayeb Al-Amiri, confirmed that the country's general budget law has completely recovered and will be voted on during today's session or tomorrow, Thursday.
Al-Amiri said in a televised statement followed by (Baghdad Today), that "the draft budget that arrived in Parliament was distorted and does not represent the aspirations of the Iraqi people, but the Finance Committee in the House of Representatives made amendments to it until it reached the stage of complete recovery, and it will be voted on during the parliament session for this day." Or tomorrow, Thursday. "
He added, "The differences over the budget were related to the region’s share, and when it was resolved, political differences emerged between the Shiite and Sunni parties. They were also resolved, so that another problem appeared, which were differences between the Shiite-Shiite blocs, but all these differences reached a final agreement on it." link
Courtesy of Dinar Guru
Frank26 Question: [What happens if in 4 to 6 months Iraq calls in all 3-zero notes, will we be forced to dump them in an exchange...?] Yes. When you bought your Iraqi dinars did you get the piece of paper that said that they were going to guarantee things for you? No. That's why it's a speculative investment. You're under the program of the monetary reform of the CBI...all time frames will be given by the CBI to the citizens and they will be given to the rest of the world as well...
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BREAKING NEWS IRAQ NEWS LIVE UPDATES! | IQD Iraqi Dinar Currency Exchange RV
March 31, 2021
IRAQ NEWS: The latest Iraqi news relating to what's happening in Iraq and the Iraqi Dinar investment.
Silver Alert! PERTH MINT PANICS! CEO Begs Everyone..."Don't Buy Silver!!" (Bix Weir)
Mar 31, 2021
After 21 years chasing down the silver manipulation GANG I thought I had seen it all...NOT QUITE!
The CEO of the Perth Mint, Richard Hayes, just had an Emergency Radio Interview where he BEGS everybody NOT to buy Silver from the Perth Mint!!
It's hard to imagine that a CEO of a company that SELLS SILVER would ever tell their customers NOT TO BUY THEIR PRODUCT but it just happened...
NOW I'VE SEEN IT ALL!
https://www.youtube.com/watch?v=ZUzMp5z7e-
Judy, Santa Surfing and Bix Weir Wednesday Morning 3-31-2021
.RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 31 March 2021
Compiled Wed. 31 March 2021 12:01 am EDT by Judy Byington
Judy Note: The RV process has begun and could no longer be stopped. Major security issues had been resolved, while Paymasters remained at their Redemption Center desks ready to roll.
Zim would not be redeemable unless it was done by appointments using the toll free number. They hoped to have all Zim redeemed by Sat. 10 April.
On Sat. 27 March Iraq RV’d it’s Dinar and by 6am EDT the Upper Bonds were being paid out.
On Sun. evening 28 March the official global redemption process began.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 31 March 2021
Compiled Wed. 31 March 2021 12:01 am EDT by Judy Byington
Judy Note: The RV process has begun and could no longer be stopped. Major security issues had been resolved, while Paymasters remained at their Redemption Center desks ready to roll.
Zim would not be redeemable unless it was done by appointments using the toll free number. They hoped to have all Zim redeemed by Sat. 10 April.
On Sat. 27 March Iraq RV’d it’s Dinar and by 6am EDT the Upper Bonds were being paid out.
On Sun. evening 28 March the official global redemption process began.
On Mon. 29 March some problems came up, some arrests were made and then the process continued.
On Tues. morning 30 March the RV team gave a green light to keep things moving.
The World Court ordered Tier 4B Notification no later than Wed. 31 March.
The World Court ordered Tier 4B start of exchanges no later than Thurs.1 April, which was the beginning of the new global fiscal year.
According to schedules given to Redemption Center Staff:
On Wed. 31 March, Thurs 1 April, Fri 2 April, Sat. 3 April they would work 9 am to 8 pm.
There would be an Easter break and then they would work Tues-Sat 6 April to 10 April 8 am to 8 pm – which should complete the Zim redemption.
Thurs. 1 April to Tues. 6 April was also the beginning of NESARA/ GESARA Debt Jubilee debt forgiveness.
NESARA Restored Republic public debt relief kick-off would be on Easter Sunday 4 April.
Tier 5 the General Public may start on Mon. 12 April and go for up to six months
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Tues. 30 March 2021 The Big Call, Bruce: Thebigcall.net 712-770-4016 pin123456#
Zim would not be redeemable unless it was done through the toll free number.
Redemption Center staff schedule said they would start work Wed. 31 March, and then go Thurs 1 April, Fri 2 April, Sat. 3 April 9 am to 8 pm.
There would be an Easter break and then go Tues-Sat 6 April to 10 April 8 am to 8 pm – which should complete the Zim redemption.
Tier 5 the General Public may start on Mon. 12 April and go for up to six months
World Court ordered Notification no later than Wed. 31 March.
World Court ordered Start of exchanges no later than Thurs.1 April.
The Starlink Internet system should be fully active on Wed. 7 April.
We should get activation of NESARA shortly after Thurs. 1 April.
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Tues. 30 March Fleming’s Military Intel Contact:
Our Military Intel Contact said that on Tues. morning 30 March after the first few minutes of the RV team meeting, a green light was given to keep things moving.
We remained on the precipice to start notification for Tier 4B.
Read full post here: https://inteldinarchronicles.blogspot.com/2021/03/restored-republic-via-gcr-update-as-of_31.html
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Santa Surfing
Santa Surfing: Silver Contracts due Today and 4-1 Bullion Dealer Vault Refunds
SILVER CONTRACTS ARE DUE TODAY!
This is important information to give Silver investors and non-silver investors an understanding of what is happening with Silver and how it could have an impact in the future. This is the Metals futures Expiration Calendar:
SILVER ALERT! Perth Mint "Mobilizes" 1,000oz Pooled Silver Bars!! (Bix Weir)
Mar 29, 2021
As Ms. Moonstone told us months ago...the Silver Riggers will fail because they only rely on their "Old Manipulation Tools!" That is exactly what is happening at the Perth Mint as it looks like they have mobilized their 7M ounces "Pooled Silver" metal to meet a Global Silver Shortage of 1,000oz silver bars!
Michae Gayed, SRU and Arcadia Economics Sunday Afternoon 3-28-2021
.Is market really crashing in April? What would cause it? Watch these signals - Michael Gayed
Kitco News: Mar 26, 2021
Michael Gayed, portfolio manager at Toroso Investments, spoke to Kitco News about warnings signals of a market correction.
"I do think that the conditions are are starting to worsen, favoring some potential accident in the stock market," Gayed said.
Is market really crashing in April? What would cause it? Watch these signals - Michael Gayed
Kitco News: Mar 26, 2021
Michael Gayed, portfolio manager at Toroso Investments, spoke to Kitco News about warnings signals of a market correction.
"I do think that the conditions are are starting to worsen, favoring some potential accident in the stock market," Gayed said.
0:00 - Market crash in April?
2:02 - Higher taxes?
5:05 - Fed has destroyed stores of value
8:00 - Gold vs inflation
10:29 - Fed has brought out the worst in humanity
12:40 - Interest rate hike?
15:38 - Indicators for market crash
Silver Report Uncut
77% Of Americans Are Worried About Inflation, BofA Survey Shows 93% Of Investors Are Worried Too
Mar 28, 2021
A survey from data firm CivicScience shows more than three-quarters of American consumers are concerned about inflation. Between the lines: 42% of those respondents said they were "very concerned," which was more than double the share (17%) that said they were "not at all concerned."
The latest survey of global asset managers commissioned by Bank of America found that inflation is the number one risk for the market, A net 93% of investors in the survey said they expect inflation to rise in the next 12 months, the highest reading in the history of the survey, which dates back to at least 1995.
The fear of inflation is very present among consumers and regardless of what the Fed says they are likely dealing with higher food prices and higher gas prices.
The big story recently has been the supply chain disruptions and I have been considering whether the supply disruptions are the story being told to hide the rapidly rising prices following the Fed's money printing bonanza
Suez Canal remains blocked by ship, no end in sight
Arcadian Economics: Premiered 15 hours ago
As the supply chain is currently clogged in the Suez canal, will it affect Silver?
Peter Schiff - Fed Bankruptcies and Gold Backed Cryptocurrencies......Part 1 and 2
.Kitco News
Peter Schiff: Fed is trapped; will either bankrupt the government or the American people (Pt. 1/2)
Mar 25, 2021
The Federal Reserve has trapped themselves; either they raise interest rates and bankrupt the Treasury, or they don’t raise rates, let inflation spiral out of control, and bankrupt the American people, said Peter Schiff, chief market strategist at Euro Pacific Asset Management.
“How does [the Fed] fight that inflation without bankrupting the U.S. government? The answer is it can’t.
My thinking is, if it can’t fight inflation without bankrupting the U.S. government, it won’t fight the inflation, which means it bankrupts the public because it destroys the value of the dollar,” Schiff said.
Kitco News
Peter Schiff: Fed is trapped; will either bankrupt the government or the American people (Pt. 1/2)
Mar 25, 2021
The Federal Reserve has trapped themselves; either they raise interest rates and bankrupt the Treasury, or they don’t raise rates, let inflation spiral out of control, and bankrupt the American people, said Peter Schiff, chief market strategist at Euro Pacific Asset Management.
“How does [the Fed] fight that inflation without bankrupting the U.S. government? The answer is it can’t.
My thinking is, if it can’t fight inflation without bankrupting the U.S. government, it won’t fight the inflation, which means it bankrupts the public because it destroys the value of the dollar,” Schiff said.
0:00 - Next financial crisis?
13:20 - End of the U.S. dollar?
21:00 - Emerging markets
28:30 - Gold price and monetary policy
35:10 - Commodity price outlook
Kitco News
Peter Schiff says this is the only cryptocurrency that makes sense (Pt. 2/2)
Peter Schiff has been a vocal opponent of Bitcoin, but in an interview with Kitco News on Wednesday, he said there is a form of cryptocurrency that he could potentially support.
The chief market strategist of Euro Pacific Asset Management told Kitco News that a “legitimate” cryptocurrency is a gold-backed token that could replace fiat currencies in utility.
0:00 - Why is Peter Schiff's son invested in Bitcoin?
4:46 - People who have changed their minds on Bitcoin
9:00 - Gold vs. Bitcoin
11:14 – "The only cryptocurrencies that would make sense"
"The Mega Debt Bubble Reset" by Francis Hunt 3-26-2021
.Francis Hunt: The Mega Debt Bubble Reset
Palisades Gold Radio: Mar 26, 2021
Tom welcomes a fascinating new guest to the show, Francis Hunt "The Market Sniper." Francis discusses how gold is acting as the bellwether for the collapsing global economy.
Gold and silver will soon be unleashed, not unlike the recent major moves in palladium and rhodium. A lot is happening behind the scenes that will affect precious metals, and he looks closely at the macro picture surrounding the markets and bonds.
Paul Volker was able to bring inflation under control during the early 80s. Since then, yields have steadily stair-stepped down, and we're effectively below zero today.
Every time they create money, they make additional debt, and now we have a mega-debt bubble.
Francis Hunt: The Mega Debt Bubble Reset
Palisades Gold Radio: Mar 26, 2021
Tom welcomes a fascinating new guest to the show, Francis Hunt "The Market Sniper." Francis discusses how gold is acting as the bellwether for the collapsing global economy.
Gold and silver will soon be unleashed, not unlike the recent major moves in palladium and rhodium. A lot is happening behind the scenes that will affect precious metals, and he looks closely at the macro picture surrounding the markets and bonds.
Paul Volker was able to bring inflation under control during the early 80s. Since then, yields have steadily stair-stepped down, and we're effectively below zero today.
Every time they create money, they make additional debt, and now we have a mega-debt bubble.
The market will break when investors, pensions, and firms stop wanting to hold bonds. Governments live beyond their means, and the only way to manage the debt is to continuously lower interest payments.
We are at the end-game for this debt cycle.
Recently real yields have had some huge moves in percentage terms. Francis explains what to watch for when markets are reaching the end of their cycles. March 2020 was likely the most extensive economic off switch in history and was the final capitulation for many investors.
It signaled the bottom for precious metals and several other commodities. Inflation appears in assets first, and he shows how the broader equities have been steadily moving upwards.
Money wants to find a home in assets, and soon inflation will appear in real-world goods and services. Technology has been deflationary for the past forty years, but we are now seeing essential commodities rise. He is calling for three-digit oil again in the next few years as inflation escalates.
Francis points to the many commodities that are breaking out or doubled during a depressed locked-down market and asks what will happen when the economy starts to pick up.
Gold and silver are the ultimate anti-debt and anti-fiat assets. He believes we are nearing another more powerful leg-up in the precious metals.
He encourages investors to understand the nature of the game and defend yourself and your family.
Time Stamp References:
0:00 - Introduction
0:35 - Metal Demand 2020/2021
2:37 - 10 Year Treasury Yield Chart
9:40 - End of the debt-cycle
13:50 - Recent Yield Volatility
16:42 - March 2020 - Debt Event
18:09 - PM's and Portfolio Weighting
21:40 - IShares ETF Treasury Chart
24:40 - Inflation & Buying Power
27:45 - Real-World Good Inflation
31:13 - Uranium, Energy, & Oil
35:10 - Global Debasement
38:38 - CPI & Globalism
40:10 - Quadruple Digit Silver
43:00 - Gold to Turkish Lira Chart
45:31 - Palladium Chart & Mines
46:50 - Platinum Chart & Demand
47:50 - Rhodium & Copper Charts
49:00 - Lockdowns and Spending
50:40 - Gold & Silver Suppression
53:16 - Gold/Silver Ratio
58:50 - Another PM Leg Up
1:02:33 - Single Digit GSR
1:04:48 - Confiscation & Taxation
1:10:14 - First Majestic & Miners
1:13:45 - A Positive Message
Talking Points From This Episode - Gold and the collapsing global economy. - Inflation, real yields, and governments are running out of time. - Commodities breaking out and hyperinflation. - Protecting yourself and your family during a debt crisis.
Gold Vs. The Stock Market
.Gold Vs. The Stock Market
Notes From The Field By Simon Black
March 16, 2021 Sovereign Valley Farm, Chile
More than 3,000 years ago in the early 12th century BC, Greco-Roman legend tells us of a mythical pair of monsters located in the Strait of Messina in southern Italy. The monsters were named Scylla and Charybdis. And both Homer’s Odyssey and Virgil’s Aeneid describe the terror of sailors who came into contact with them.
Scylla was on one side of the Strait, and Charybdis on the other. But because the Strait is so narrow, it was impossible for sailors to avoid both of the monsters, essentially forcing the captain to choose between the lesser of two evils. In Homer’s narrative, for example, Odysseus is advised that the whirlpools of Charybdis could sink his entire ship, while Scylla might only kill a handful of his sailors.
Gold Vs. The Stock Market
Notes From The Field By Simon Black
March 16, 2021 Sovereign Valley Farm, Chile
More than 3,000 years ago in the early 12th century BC, Greco-Roman legend tells us of a mythical pair of monsters located in the Strait of Messina in southern Italy. The monsters were named Scylla and Charybdis. And both Homer’s Odyssey and Virgil’s Aeneid describe the terror of sailors who came into contact with them.
Scylla was on one side of the Strait, and Charybdis on the other. But because the Strait is so narrow, it was impossible for sailors to avoid both of the monsters, essentially forcing the captain to choose between the lesser of two evils. In Homer’s narrative, for example, Odysseus is advised that the whirlpools of Charybdis could sink his entire ship, while Scylla might only kill a handful of his sailors.
So Odysseus chooses to sail past Scylla: “Better by far to lose six men and keep your ship than lose your entire crew.”
The story is a myth. But the idea of having to choose between two terrible options is very real. It appears that the Federal Reserve has landed itself in this position.
In its efforts to boost the economy during the pandemic, the Fed slashed interest rates so much that the average 30-year mortgage rate for homebuyers reached an all-time low of 2.65% earlier this year.
Similarly, AAA-rated corporate bond yields reached record low 2.14% last summer. The US government 10-year Treasury Note dropped to a record low 0.52%.
And the 28-day US government Treasury Bill rate actually turned negative for a brief period-- something that has never happened before. The effects of such cheap rates are obvious.
With corporate borrowing rates so low, the stock market has boomed. With consumers able to borrow money so cheaply, home prices have surged to an all-time high.
Yet in slashing interest rates to record lows, the Fed has essentially sailed right into the Strait of Messina. And they’re about to find themselves stuck between two monsters.
On one side of the Strait is the Inflation Monster, which grows stronger and more menacing with ever dollar the Fed conjures into existence.
Last year the Fed increased the supply of US dollars in the financial system (M2) by 26%-- the single largest annual increase since 1943.
The Fed has nearly doubled the size of its balance sheet in the last 12 months alone, and nearly 10x’d its balance sheet since the financial crisis of 2008.
In simple terms, the Fed ‘prints’ money (albeit electronically) and sprinkles it around the financial system.
This is a form of debasement, not much different than how ancient Roman emperors cut corners by reducing the purity of their gold and silver coins.
Historically speaking, debasing the currency eventually causes inflation.
There are famous historical episodes, like Zimbabwe, Venezuela, or the Weimar Republic, where the government’s endless money printing caused hyperinflation.
But there are countless ‘quieter’ examples of inflation-- like in Brazil, where inflation is now over 5%, or Turkey, where the annualized inflation rate is about 15%.
15% isn’t exactly hyperinflation. But it does make life pretty uncomfortable, especially when wage growth fails to keep pace. Every year people find themselves poorer and worse off.
Yet the Federal Reserve ignores these countless historic examples, recently claiming to Congress that relentless money printing will not cause inflation.
The Fed’s reasoning is that, because their money printing hasn’t caused inflation yet, it never will. This is pretty dangerous logic, given that rule #1 in finance is ‘past performance is no guarantee of future results.’
But I’ll come back to that in a moment, because on the other side of the Strait is the Market Monster.
Like the Inflation Monster, the Market Monster grows larger with ever dollar the Fed creates. It FEEDS on cheap interest rates.
Look at the US stock market: prior to the pandemic, the Dow Jones Industrial Average reached a record high of just over 29,000 points. Today, the market is more than 10% higher
And yet--
1. Corporate earnings are DOWN. The average Earnings per Share in the S&P 500 is 30.47% LOWER than prior to the pandemic.
2. Corporate revenue is also down. Yet corporate DEBT is substantially higher.
3. The US economy as measured by GDP is weaker. Consumer spending is still lower than before the pandemic. Unemployment is higher.
4. Government debt is hilariously out of control, and the new ruling party just announced that they want to raise taxes.
Lower profit, lower revenue, higher debt, higher taxes-- NONE of these trends should be favorable for stocks. Yet the market is UP, with the average Price/Earnings ratio in the S&P 500 now an incredible 40x.
The Fed knows that the strength of the stock market… along with the real estate and bond markets… is based on cheap interest rates.
They also know that if they raise rates, these markets could suffer a dramatic downturn.
So the Fed has two options to choose from, and neither is good: raise rates and cause markets to crash. Or, don’t raise rates, and risk inflation.
They’ve pretty much already told us they’re choosing inflation.
I’m not suggesting that the US is going to turn into Zimbabwe and suffer terrible hyperinflation.
But inflation levels similar to Brazil or Turkey are definitely possible. It happened before in the 1970s when inflation hit double digits-- and stayed that way for years.
And given the Fed’s refusal to acknowledge the slightest chance of inflation (heresy!), it makes sense to consider preparing for the possibility.
I would point out again that gold has a 5,000 year track record of performing well during times of inflation.
It’s also among the few major asset classes that’s NOT currently at a record high.
Unlike the stock market, which has reached an all-time high despite lower earnings and higher debt, gold is down 16% from its peak even though inflation expectations are the highest they’ve been in years.
On that basis, gold looks pretty undervalued.
To your freedom and prosperity Simon Black, Founder, SovereignMan.com
More News, Rumors and Opinions Thursday Night 3-25-2021
.TNT:
Cutebwoy: A parliamentary committee announces the inclusion of the Kurdistan Region in the petrodollar fund
Shafaq News / The Parliamentary Regions and Governorates Committee announced, on Thursday, that the Kurdistan Region will be included in the petrodollar fund within the general budget law for 2021.
The federal budget, in its version prepared for voting in Parliament, included an increase in the percentage of petrodollars that reached 5 dollars, as well as doubling the allocations for this sector from 500 billion to one trillion dinars, in order to be invested in the advancement of oil-producing provinces.
The head of the committee, Sherwan Al-Dubirdani, told Shafaq News, “The petro-dollar fund was allocated to the oil-producing provinces and the region, but he did not specify the amount, which may be 3-5 dollars per barrel of oil.”
TNT:
Cutebwoy: A parliamentary committee announces the inclusion of the Kurdistan Region in the petrodollar fund
Shafaq News / The Parliamentary Regions and Governorates Committee announced, on Thursday, that the Kurdistan Region will be included in the petrodollar fund within the general budget law for 2021.
The federal budget, in its version prepared for voting in Parliament, included an increase in the percentage of petrodollars that reached 5 dollars, as well as doubling the allocations for this sector from 500 billion to one trillion dinars, in order to be invested in the advancement of oil-producing provinces.
The head of the committee, Sherwan Al-Dubirdani, told Shafaq News, “The petro-dollar fund was allocated to the oil-producing provinces and the region, but he did not specify the amount, which may be 3-5 dollars per barrel of oil.”
Dubardani added, “The purpose of this fund is to support the southern and central governorates to benefit from the petrodollars, for the purpose of providing services to the people of the province.”
The head of the committee pointed out that “the funds allocated from the petrodollar fund will go directly to the oil-producing provinces and the Kurdistan Region.”
A parliamentary committee announces the inclusion of the Kurdistan Region in the petrodollar fund
************
Tishwash: Saeron confirms the presentation of a supplementary budget in the event of continued high oil prices
A member of the Alliance, Ali Al-Lami, confirmed that a supplementary budget will be presented in months, if oil prices remain at their current levels.
Al-Lami said in a statement that Mawazine News received a copy of, that "the current oil prices range from 65-70 dollars per barrel, which are fluctuating and unstable, meaning that they reduce and rise again within hours, but the general situation is that the decrease is not significant."
Al-Lami added, "If oil prices remain at their current levels, which are higher than the average oil price specified in the budget, after months the government will pay a supplementary budget because it will be an increase in revenues and will be distributed by the House of Representatives, as has been the practice in the past years where oil prices are rising.
He pointed out that "oil prices will remain unstable due to the repercussions of the Corona pandemic for a period of time, especially since its impact is direct and clear in the economies of most countries of the world, but in general, changes in prices, whether the rise or fall will not be significant in the short term
************
Courtesy of Dinar Guru
Frank26 No body knows when this is going to happen. It looks like it's here doesn't it? I will admit this is the closest I've ever seen it...the new small category notes IMO are coming out very soon at a 1 to 1 rate...didn't I say to you you'd see a plethora, a mountain, a pile, a cornucopia of nothing but articles about the exchange rate of the Iraqi dinar against the American dollar...
Pimpy Article: "We will oblige the government to restore the exchange rate of the dollar to what it was previously" What do they mean "previously"? Did they mean previously to the $3.22 rate? There's a lot of that chatter going on - Or to the one I was talking about which is 1190 dinars...my opinion it would be back to where it was before which is one dollar for every 1190 dinars. That's just my opinion. Could they be talking about the rate that it used to be at $3.22? People are trying to figure out what this means...
************
Thursday Night X22 Financial Report
Ep 2436a – People Are Going To Feel The Economic Thunder And Demand Change
The people are seeing the difference. When Trump first introduced the tax cuts it was to give the people a taste of what would be like to have more spending money. Now people will see the difference when [JB] introduces his tax plan. States are opening up and spending and the economy is bouncing back, just like Trump said. People are nervous about inflation, Gold, Bitcoin on deck.
Gold & Basel 3: Gold to Skyrocket?
Miles Harris: Mar 25, 2021
Gold Price New Highs Imminent, Investors Will Get Paid 'Huge' Says Lawrence Lepard
Stansberry Research: Mar 23, 2021
The Federal Reserve is out of tricks and the market smells inflation: “Of course we will have inflation, we are coming out of a pandemic… Ignore the man behind the curtain," market watcher Lawrence Lepard says, describing the Fed’s facile narrative.
Speaking on gold, he tells our Daniela Cambone, "It's ridiculous; gold should be at $5,000 dollars, but I want gold investors to know…. we are going to get paid and we will get paid huge."
Lepard adds, "but bullion banks are doing their thing and trying to sell at odd times."
Ray Dalio and Max Keiser Thursday 3-25-2021
.Kitco News:
Can the government confiscate your gold? E.B. Tucker on 'the war against your wealth'
Mar 21, 2021
Ray Dalio, co-chief investment officer of Bridgewater Associates, recently wrote that policy makers short on money will likely raise taxes and prevent capital flows into “other assets” like gold and Bitcoin.
E.B. Tucker, director of Metalla Royalty and author of “Why Gold, Why Now” said that the government already has the tools to do this.
“Everyone gets this idea that the [government] will raid your house and look for your gold. It’s not necessary.
Kitco News:
Can the government confiscate your gold? E.B. Tucker on 'the war against your wealth'
Mar 21, 2021
Ray Dalio, co-chief investment officer of Bridgewater Associates, recently wrote that policy makers short on money will likely raise taxes and prevent capital flows into “other assets” like gold and Bitcoin.
E.B. Tucker, director of Metalla Royalty and author of “Why Gold, Why Now” said that the government already has the tools to do this.
“Everyone gets this idea that the [government] will raid your house and look for your gold. It’s not necessary.
All you have to do is limit the ability to transact gold in the legal market, and then you assess an excise tax,” Tucker said.
0:00 - Gold confiscation
11:49 - Capital flows 16:35 - Wealth taxes
21:10 - Beating inflation
Keiser Report | The Death of Price Signals | E1675
Mar 25, 2021
n this episode of the Keiser Report, Max and Stacy look at the fact that the market can no longer react to price signals because all of the so-called ‘signals’ are now fake.
"The Currency Collapse Has Begun"...and more Wednesday Afternoon 3-24-2021
.Greg Mannarino: The Currency Collapse Has Begun | Economic Collapse Is Coming!!
I Love Prosperity: Mar 24, 2021
In this video we speak to one of my favorite commentators, Greg Mannarino.
Greg breaks down the currency collapse, the economic collapse, the precarious economic situation the world is in, his personal opinions on Yield Control, government debt, the future, and much more.
We also discuss his best investing advice, gold, silver, bitcoin, and how to play what's coming right now in the stock market and global financial system.
You don't want to miss this one!!
Greg Mannarino: The Currency Collapse Has Begun | Economic Collapse Is Coming!!
I Love Prosperity: Mar 24, 2021
In this video we speak to one of my favorite commentators, Greg Mannarino.
Greg breaks down the currency collapse, the economic collapse, the precarious economic situation the world is in, his personal opinions on Yield Control, government debt, the future, and much more.
We also discuss his best investing advice, gold, silver, bitcoin, and how to play what's coming right now in the stock market and global financial system.
You don't want to miss this one!!
The Currency Reset: Silver Will Skyrocket $100+ | Inflation Will Drive Gold & Silver! - Mike Konnert
I Love Prosperity: Mar 22, 2021
In this video we talk to Mike Konnert about Silver, Silver stocks & his belief that as government's continue to devalue currencies, you will see Silver prices skyrocket.
We discuss the huge effect that industrial demand can have on silver, and how this demand is much higher than it was in 2011. This should have a sustained impact on the Silver prices over the next decade, and send silver prices much higher.