KarmaKing: I was just reading the blog here. There was some talk again about exchanging in fiat or asset backed. I would not be concerned about this. If you exchange and walk out with the cash, it will with the same money you use everyday.
Tony went over this multiple times in the past. The TRNs work between banks. IF there was a new currency coming out, everyone in the country would have to be told beforehand that there would be a new currency coming out.
One, so they'd go to the bank and change out their old bills for new ones. Two, so business know to accept the new currency.
You wouldn't offer someone business in exchange for some blue and pink note that they claim is money without knowing officially from the government if it is or not.
Yada: karmaking,,,,Ive been saying that for month,,,there is not asset backed currency for that reason,,,the public has not been made aware of it and from the way things, look it would take a very long time for asset back is a reality,,,,,,I believe when the Basel 3 was put in place,,many thot that was the asset back vehicle when it was a funding requirement to prevent closing banks effecting the markets around the world
KBoom: karmaking & yada- here's my take on the asset-backed issue: There is no way, imo, this rv/gcr will nor can occur in the old fiat system. The core premise to fixing the global economy spells the end of the fiat printing presses.
DemCoit: Little tidbit fiat currency has never been successful in any country since the beginning of time
Yada: K Boom,,the fact is is is occuring with out it,,,,if we or anyone was going asset backed,,the price of gold would of started skyrocketing,,,,that aside,,,,we are dealing with digital numbers,,,do not need the actual currency in that case,,,Tony has confirmed that on multiple occasions,,,the biggest reason why is the public would go out of their minds if there was a new type of currency and they do not have it,,and there is no way,,,and two bookkeeping systems can not work side by side
KBoom: Yada- I agree that the physical currency itself is NOT at all an issue. Its what is backing the 'promissory note'- which is all these paper instruments really are.
KBoom: Yada- so... the "TRN" = the new asset-backed US Dollar remains a key. It matters not if our wallet cash still says "fed reserve note' for a time- until new bills get printed. That is secondary and largely irrelevant
Yada: A good example of what the world is headed toward is what ia going on in Iraq,,,they have the digital cards they are getting the people use to while still keeping currency in circulation,,all they have to do is squeeze the currency amount to less and less,,,,,,,,,,read the book of Rev,,,a cashless society is on the horizon
KBoom: yada- 'cashless' can take on two different meanings. the true cashless to me means not 'digital'/plastic transactions- but that is another convo altogether
Yada: the TRN are our treasury notes our government owns that is circulated between countries,,,that money will come back to the tresury,,,not the Federal reserve where we owe and have our national debt,,,,TRNs are the same as bonds in other coutries,,we, in main street,,will never see them
Tennwolfman : I have some news--dont know if its good or bad, can be taken different ways--going to tell you all I know so please dont ask me any further questions or PM me cause this is it--Called in to my bank this morning and they told me my WM had left at closing time yesterday with her things in a box and said she would not be back--thats it--no more and no less
hitdoc : Tenn...did you get her fired....lol
Tennwolfman : hitdoc--she left on her own free will
hitdoc : Tenn...maybe she has some currency...
Tennwolfman : she did purchase currency over a yr ago
Tennwolfman : ive had 2 wm for quite some time now--it pays to have a backup plan in motion
OKRocks: Gazette still has not been updated since Nov 30
karmaking ;A close relative of mine went to a Chase bank this morning and asked the manager specifically if he could exchange his currencies here when they revalue.
The manager said YES. He asked what the rates would be when they revalue (again, very specifically.) The manager said let's go take a look at the screens. Asked him what currency he had. (He just told him about the dong he has.) Says two and a half million dong.
The manager said, "well right now it's only worth about $90." He asks again, what about when it revalues? The manager said, "Well you wouldn't be able to walk out of here with a million dollars, but I could write you a cashier's check."
So there's a story of a bank manager not only acknowledging a revalue in currencies, but that it would equate to millions of dollars when it happens. (in KY)
We're all going to be rich, my friends.
DanBlessed: I'm pretty surprised to see that forex for IQD had fallen below 1165. When looking at the chart looks like a long bumpy walk! http://forex.tradingcharts.com/chart/US%20Dollar_Iraqi%20Dinar.html?ch artpair=US%2520Dollar_Iraqi%2520Dinar&ctype=l&movAvg1=&movAvg2=&tz=EST &per=5m&sub=Save
DeeMoney: danblessed- I've been watching that too. I heard in the past that it could be good for us as forex may be resetting to change along with the CBI. Not sure how true, just what I heard.
Q: [...on the10th they are activating the smart cards to deal with tariffs as I understand and was wondering if they did that do you think we might see something then or shortly after?]
BGG: I have long said - "when you see the tariffs you will see a rate"... if they enact a broad tariff structure WITHOUT a rate (or currency shift of some kind) that would help mitigate the damage to the citizens - I WILL BE STUNNED.
I am about 99.75% on this one. ...obviously - anything is possible. However, their own economist have warned them over and over... (AND the IMF is involved now).
wmawhite Article: "Deposit Insurance Law does the economy" the deposit insurance strengthens the investment law activity and is another sign of them moving to a market driven economy...
They are showing us their preparations. They are preparing for the move.
CSHessman: BULLETIN Thursday decline in Dow Jones Industrial Average briefly exceeds 400 points
http://www.marketwatch.com/investing/in ... iteid=bnbh
Harvestime: In the first paragraph it states this card will be used on the 10th for licenses and fees in import and export. (see article below) This may have already been covered and I apologize to you Frank if it has been discussed and I just missed it. Sure seems like something Big!!
Goldenboy: Get ready family! Second article pointing to the tenth of this month. The other was for the Dong! I pray that is our big day! The markets,
IMO are correcting themselves for the explosive events I predict will hit next week! Maybe Frank will have some golden nuggets to reiterate this!
Direct using the smart card to pay export and import licenses fees
January 5, 2016
Our economy / Baghdad
General Company for Iraqi Fairs announced in the Ministry of Commerce for import licenses to embrace the receipt of fees and export via the smart card (ironing Card) as of the tenth of this month.
The general director of the company Jassim Mohammed al-Amiri said in a statement seen by the agency, "our economy" news "These actions come in the context of Achteral time and red tape and simplify procedures and eliminate friction references to the employee in order to achieve transparency and integrity,"
stressing that "his company and in line with the orientations of the General Secretariat of the Council of Ministers and direct supervision of the Minister of Trade Mohammed Xiaa Sudanese now working to simplify the procedure to grant import licenses to work through the single-window system through an electronic system, which is scheduled pitted after coming months. "
He called al-Amiri "exporters and importers the obligation to pay fees for vacation across the smart card company after the fact that the direct implementation of this system will not receive any fees otherwise."
In another context, Ameri stressed that "a delegation headed by him visited Iran on establishment of a joint cooperation shows commercial and industrial projects in both countries and to serve the common interests."
He stressed that "the visit resulted in a number of meetings to approach the concerned departments and ministries, industrial, commercial and economic sectors to develop joint working mechanism to control the type of materials and goods entering Iraq, pointing out that" the visit was at the invitation made by the administration gallery scene. "
The statement pointed out that "the delegation extended an invitation to the Iranian side in the presence of Basra International Fair Co-presented by some Iranian products and some artifacts in the threshold Razavi.
http://www.iqtesaduna.com/2016/01/05/%D ... %AF%D9%81/