WydaWake: DEFINITIONS that may help clear the FOG of CONFUSION based on what Tony and Mnt Goat have explained. Please correct me if I have missed something.
1. RV: ReValuation Process. Each of the nearly 200 countries involved in this Global Reset are going from a "Fiat Currency system, that has no asset value, to a Basil III Gold and other Asset backed currency.
Each country will have a unique formula to calculate the value of each country asset into the value of their currency. Each asset has to be quantified and qualified before being placed into the formula.
When all the asset values of the country have been placed into the formula, the New System (CIX) program "CALCULATES" the value of the currency. That gives the country's currency a "New Value" and it is then considered to have been "ReValued - RV'd."
You can't "RV" until you have the new value calculated for the currency.
This process has to be completed for each of the 200 countries before the next step
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2. Global Reset. The "ReValuation Process" began over the weekend beginning with the countries with the lowest value and working up to the highest.
The IQD will be the last to be calculated into the System. When all the asset values are calculated into the System formula for each currency, the New System will "RESET" all the rates with one last fluctuation of change to process the formulas of each country simultaneously on a continual basis.
The Global Reset under Basil III connects all the ReValuations inside the New System and CIX will allow the System to give the value of each currency in real time at any time based on the real value of all currency assets globally. Only then can the System go LIVE.
We are now seeing the final stages of a long process that began with a plan. The Plan was a Process, and the Process continues, one step at a time.
Can't skip steps. When we were told 8-18-13 that 100 countries RV'd overnight, they indeed had...under these definitions.
100 countries had RV’d from a Fiat backed value to an asset backed value and were waiting for the Reset.
The calculations will continue until the IQD is calculated into the System. Then all the currencies will be reset at their New Value. Then the System can go live.
jrcampy wrote: OK, let's be clear on the facts:
Basel III does NOT, in any significant way, change the way the U.S. regulator sees gold (my assumption would be this includes other commodities as well).
Gold has NOT become the legal tender in any country adhering to the Basel III rules.
Basel III is NOT a shift toward a gold standard, contrary to what has been rumored.
The major difference between Basel II and Basel III (according to BCBS, who created it) is risk categorization and capital classification/liquidity requirements.
Somebody - please - show me where Basel III establishes a requirement to move to asset-backed currency, because BIS & BCBS say nothing about it. Thanks everyone!
WydaWake: As a partial response only, here are some indications. You raise a good point. What are the definitions of an asset-backed and a fiat-backed currency? What is the basis for the consepts?
So how does gold come into play? Tier 1 capital is the core measure of a bank's financial strength from a regulator's point of view. Under the Basel III rules, gold's status would be changed from a Tier 3 capital asset to a Tier 1 asset -- making it officially a top safe-haven asset.
That means gold would enjoy a 100% risk weighting instead of the 50% weighting conferred by its Tier 3 status. So, whereas a bank's Tier 3 gold holdings would have been discounted by 50% of their current market value, now those holdings can be counted at 100% of their value under the Basel III rules.
Thus, banks that hold gold will get more "bang for their buck" from those assets.
But the Basel III rules don't end there. Banks also would be required to increase their capital levels to a core Tier 1 capital ratio of 6% rather than the current 4%.
That means banks will need to acquire more Tier 1 assets, and with the menu now expanded to include gold, they likely will be looking to purchase more.
They won't be relegated to buying just equities, government bonds, fiat currencies, and other assets. For all intents and purposes, gold is as good as cash to banks. That is, gold is now money -- again.
There's much more to learn here....
Jrcampy: agreed. Banks holding gold helps them meet capital reserve requirements due to new regulations and asset ratings. That's completely different from being BACKED by assets, because being backed by assets restricts central banks' ability to manipulate lending rates.
Honestly, sovereign debts will be paid using fiat, or they won't be paid at all. And there will be no 'pushing the odometer' back-to-zero reset for debtor nations on any grand scale.
This is why I struggle with this mantra being pushed about a fiat-to-asset flip on a global currency scale.
Shoot - we're all talking about Basel III and DF like it's a fully-implemented reality; DF is about half-way there, and there's a pretty good chance that partisan politics and the bank lobby kill it before it's rolled out in totality...
WydaWake: We have been hearing from the beginning that there was going to be a "Global Financial Reset" that will bring in a “New Global System.” Each of us has formed a mental picture of what that means based on two "Basic Pre-Suppositions" that affect how we process every thing we read and hear on the subject. These can be defined as:
#1. The Global Financial Reset will leave all infrastructure of our current financial system in place with some significant tweeks designed to continue to keep us in the dark and turn our attention away from the causes and effects of the current system without rocking the boat.
#2. The Global Financial Reset will be a complete reset of the Global Financial System from the top down that will end the Debt-Based system and return fiscal responsibility so we can grow this great country back to the envy of the world.
Soooo... When we talk about "Global Reset," what paradigm are we seeing, or defining, it through? #1 or #2…? And... Which one is actually taking place behind the curtain?
Jrcampy: Watch BRICS dump petro-dollar and push for basket currency platform. That's a re-set, and it certainly will NOT mean USA will be the envy of the world anytime soon.
If PTB wanna move towards a one-currency mindset (they've talked about it for over 100 years), weaving a, 'basket' is a stepping stone towards that end. There has to be a great unwinding, there is NO solution where a switch is flipped and POOF! Debts cleared.
We still have a massive bond bubble that needs to burst, there is no delete button for those debt covenants.
We just have a difference of opinion - you're obviously an extremely bright person that asks poignant questions and offers food for thought.
I just want to be sure those that visit these forums don't blindly accept this 'company-line paradigm' of overnight switch-flip global reset/all sovereign debts paid/ asset-backed global currency system/UST notes/no more FRB/IRS...people need to really dig in and research this at a macro-economic level, and understand that quadrillions of derivative traunches aren't gonna just disappear when some currency button is pushed.
WydaWake: Our opinions may not be that far apart, my friend. Personally, I'm not closing any doors and exploring everything available while keeping my head down, tail covered and maintaining forward motion.
It's what we DON'T know that will bite us.
Thus the emphasis on Definitions, getting out of the box and start asking questions to find what the real TRUTH is. You have contributed to that end, and I sincerely appreciate it. Thank you!
Dinarette: Really LOVE and appreciate of your answers. So, based upon your thoughts do you feel the RV will take place tonight ... in that we can cash in VND & IQD to USD tomorrow? Or what is your presumed timeline?
WydaWake: Based on my thoughts and the definitions we hve been given, I have to go on the same information you have. The RV (ReValuation) of the currency has to take place before the Global Reset, right?
The Global Reset has to take place before the currency can go live, right?
The currency has to go live before we can "exchange" our currency for another currency of choice, right?
My thoughts are that the first thing we will know about is that the currency has gone live. When that happens, we will all know that all currencies have ReValued and been reset. However, at that point, will you care about the RV or Reset?
According to the definitions we have been given, that is the timeline. My understanding is that there are less than a handfull of people who will know when it's time to go live. We will know too, within minutes.
Hold that thought, and keep sipping Valerian Tea....While reading what Mnt Goat just posted.