Early Friday Morning:
(In case you missed it!)
PAT: Wow! Russia - Goldbacked Currency, Bank Rossyia Suspends Foreign Currency Transactions Sunday
Moscow Responds to Sanctions. Bank Rossyia Suspends Foreign Currency Transactions By Global Research News
Global Research, March 30, 2014
The action is designed to voice support for the bank, which is creating a precedent in world economy
An action in support of bank Rossiya which has decided to work exclusively with the national currency will take place in Moscow on Sunday.
The Golden Symbol of Russian Rouble installation in front of the bank’s office in Perevedensky pereulok in Moscow will symbolize the rouble’s stability and its backing by the country’s gold reserves, the action’s organizers explained to Itar-Tass.
Bank Rossiya plans to work only with Russia’s national currency
The action is designed to voice support for the Rossiya bank, which is creating a precedent and can make those who have initiated penalties against Russia to feel sorry about their decision.
The bank’s transition to using exclusively the rouble may prove the Russian currency’s viability and independence in world economy.
“Russia, at its present stage of development, should not be dependent on foreign currencies; its internal resources will make its own economy invulnerable to political wheeler dealers,” the action’s organizers said.
The Russian joint-stock bank, AB Rossiya, decided on Friday that it would work only with the national currency to protect its customers from dishonest actions by foreign financial institutions.
“In order to protect the bank’s customers from dishonest actions by foreign financial institutions AB Rossiya has decided to operate only in the domestic market and exclusively with the national currency of the Russian Federation – the rouble,” AB Rossiya said in a statement released on Friday.
“The bank has already notified some U.S. banks that it is closing its correspondence accounts. Similar notifications have been sent to other foreign financial institutions,” the bank said in its statement.
Despite changes in its work, AB Rossiya will continue meeting its commitments to clients and partners.
“The bank will fulfill its commitments on time and in full volume. The bank does not need financial support for its current operations, including from the state regulator,” AB Rossiya said. The Visa and MasterCard international payment systems stopped servicing the plastic cards of four Russian banks, including AB Rossiya, on March 21 because of their links to sanctioned Russian businessmen included in the United States black list.
The bank Rossiya’s decision to give up foreign currency and start working exclusively with the Russian rouble is a step forward towards converting the Russian economy and banking sector to national currency, Andrei Kostin, the VTB bank president, said in an interview with the Russia 24 TV news channel commenting the decision of bank Rossiya to operate only in the domestic market and exclusively with the Russian rouble.
“We have been moving towards wider use of the Russian rouble as the currency of settlement for a long time. The rouble became fully convertible quite a long time ago. Unfortunately, we have seen predominantly negative consequences of this step so far revealed in the outpour of capital from this country. The influx of foreign investments into Russia has been speculative and considerably destabilizing to our stock markets,” Kostin went on to say.
The VTB chief said that Russia should sell domestic products – from weapons to gas and oil – abroad for roubles and buy foreign goods also for roubles.
“Only then are we going to use the advantages of the rouble being a foreign currency in full measure,” Kostin said, adding that AB Rossiya would form a vital part of the Russian banking system and would closely cooperate with other Russian banks, which would also expand the rouble’s use in settlements.
“A new imperative motive has appeared for that now,” the VTB chief stressed.
“I believe that other credit institutions, enterprises and citizens will be interested in working with bank Rossiya,” Kostin said in conclusion.
Here's the link that supports the gold backed currency news referenced in the above article which I think they mistakenly left out:
An action in support of bank Rossiya to take place in Moscow March 30, 6:15
Note: Don't miss the two related links below this article, 1. from 2009 on SDR's and 2. from 2013 on Iran's currency - well worth reading!:
Chinese central bank backs Russian idea for new reserve currency
The chairman of the People’s Bank of China has spoken out in support of Russia’s proposal to create a new global reserve currency as an alternative to the U.S. dollar, Xinhua news agency reported on Tuesday. Zhou Xiaochuan wrote in…
Currency Wars: Iran to Exclude Dollar, Euro from Foreign Transactions: Minister
Iranian Economy Minister Seyed Shamseddin Hosseini said Monday that Tehran plans to exclude the currencies of the Western states, specially US dollar and euro, from its foreign trade transactions, semi-official Fars news agency reported. “According to the decision made by…
Late Thursday Night:
CRITICAL U.S. CURRENCY ANNOUNCEMENTS AND UPDATE-FROM S3A SKYPE ROOM MEMBER (TRN'S & THE APRIL 6TH TARGET DATE)
Posted by EXOGEN on April 3, 2014 at 6:53pm
QUOTE>>MARCH 28, 2014
Today, the Treasury Reserve Note "TRN" (New US Dollar) was effected. This is a historic moment for our humanity, as the funds that were released globally yesterday, and are now live and denominated in the new US dollar. The TRN is on screens.
The Fed Dollar is being exchanged Over The Counter "OTC" in Europe first. That is occuring before the US begins the exchange this coming week. The current ''cash dollar'' will devalue somewhat, but it will not be a high rate and is expected to be at the 3-4% rate only (basis OTC Bank Charges).
The old Fed dollar (Deposit Accounts) is expected to be discounted 45% against the TRN. Being gold-backed, the TRN will actually prevent the economic collapse predicted by so many as it offsets the devaluation, and keeps the devaluation to a small percentage as above.
All financial events are confirmed for next week inclusive of the Re-Valuation. The formal global announcement of the TRN, the Global Currency Reset, and the Global Reset will occur on April 6, 2014. The news will be carried by CNN and other networks.
The amounts of funds coming out of the system into mainstream economies will ramp up very quickly into the expected hundreds of billions.
MARCH 31, 2014
Since the release by the BIS - Bank of International Settlement on Thursday, March 27th of all funds to governments and organizations, the USA on Friday signed the TRN into effect, and major wire transfers were effected on Saturday. This is continuing on Monday, March 31st, and will continue through this week as the new system is learned.
The funds to our levels are trickling down, and should be available for further dispensation by the Paymasters as early as the first few days of April 2014. Expected funds from the Paymasters will therefore be Wednesday, April 2nd or Thursday, April 3rd at the latest. Funds in destination accounts may be as early as Thursday, or possibly as late as Monday depending on international transfer times.
In Hong Kong, the first wires were approved, and are independent of the RV now. They were able to break, or carve it out from the rest which has to wait for the RV and TRNs to come out. These wires may be in USD as a result, and then get converted before being sent to the end destination accounts.
The April 6th date continues to be the target date for the global public announcement, and the governments are preparing for this event.
The banking system has been allowed one week to learn the new system that is in effect, and to be completely Basel III compliant. All future transactions will have the approval of a Basel III Compliance officer assigned to the transaction.
One very important issue to understand is that we have all heard about all the testing issues and delays. We all thought that the RV was going to happen at any moment, the global reset effected, and the new US dollar circulated, as we did not understand the total plan and scope of all the reforms necessary prior to any currency revaluations, reset processes, and major funds releases.
Most were only focused on the goal of becoming rich and not understanding, or wanting to understand the big picture. However, understanding is here and truth self-evident as we see this historic time unfold before our eyes.
Our advice is to exhibit the epitome of strength: patience. Having the fortitude to stand still is good right now, and just prepare for the work ahead. The project side is of critical importance in this new paradigm, and this focus will shortly dominate our actions.
For Bond Transactions -- all boxes of bond submissions will be processed very quickly now. Both the Chinese and US Treasuries are very eager to process as many as is possible during this pre-reset time window, and prepare as many purchases/redemptions of the bonds.
The first TTMs have already been scheduled and are being done quietly, with almost every day being booked. This activity will continue until about the middle of April. April 17th marks the day of the second allocations that will be released.
DISCLAIMER: Sender is NOT a United States Securities Dealer or Broker or U.S. Investment Adviser. Sender is a Consultant and makes no legal warranties or representations of any kind as to the Buyer, Seller or Transaction. Intermediaries are NOT Advisors of any kind. The transaction contemplated herein is strictly one of private placement and is in no way relying upon or relating to the United States Securities Act of 1933, as amended, or related regulations, and does not involve the sale of securities. We mutually agree that this private placement transaction is exempt from the Securities Act, is not intended for the general public and all materials are for your “PRIVATE USE ONLY”.
[jack1977] Central Bank announces to contract for manufacturing of golden ingots. April 3, 2014 http://iraqdailyjournal.com/search-category-3
[jack1977] Money Still Flowing into Iraq Posted on 03 April 2014http://www.iraq-businessnews.com/2014/04/03/money-still-flowing-into-iraq/
[xyz] "This gold reserves to support the value of the Iraqi dinar against other currencies and the strengthening of the national economy in general."
[natok] IMF boss Lagarde warns economy 'too weak for comfort:
[natok] IMF link to Lagarge's talk yesterday