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tman23 The reason the 50 note was pulled is the CBI is going to lift the 3 zeros...A 5000 note will become 50. Make no mistake they are going to lift the 3 zeros from the nominal value of the currency.
So the value with lifting the 3 zeros would be as such...a 25,000 note is .00086 or $21.50 usd...lifting the zeros the note is 25 at .86 and equal to $21.50 usd.
Now to go to 56 cents is a 30 cent devaluation and a 25 BECOMES $14.00 usd (a loss of $7.50). The argument is...They are not going to take away the 3 zeros from the currency...BUT the fact is they are! They will! AND they have said as much in ink.
BUT...The new currency must come first as a prelude to the removal of the 3 zeros.
So the 25k notes and three zero notes will see a value because the lower denoms will be out...but the new currency with the new value will be only a short time before they lift the 3 zero accounting off 3 zero notes.
The governments supporting this will never allow this value of money to be floating around for long. It requires a short exchange window time period.
WE know they are eliminating corruption and accounting in the trillions with adding 3 zeros makes it easier. They are going to lift the 3 zeros and need to do so before/start of 2016.
And by the salary ladder they have announced...it works to values around $2.66 per dinar.
That being said: In what world does 10 cents or 56 cents work on new currency without 3 zeros.
The hype about what the IMF says is being read through IQD speculator goggles...the IMF will never give a hint to more value coming to currency...
AND it appears that even political groups in Iraq don't have a clue as they demonstrate over the new salary ladder. Watch the retirement pay scale adjustment.
The Iraq citizen in the USA getting 1 million IQD per month on QI card...the adjustment coming to around 325 thousand IQD..which when exchanged equals the same $860 usd (if valued at $2.66)...this is why the salary ladder and retirement law and rescaling of payments is so positive that change is coming in the value.
LH: Remember, as Ray is saying, it has already happened, otherwise people wouldn't have already exchanged.....our time is coming, but probably not today
TBarts: Believe to receive!
NurseGinger: We are all millionaires~People with dignity, class and grace. … Group Hugs To All Future Noble Millionaires ....Believe It, Receive It, Achieve It!!!
Roush: Another 53.4 T Gold Withdrawn From Shanghai Gold Exchange
BY THE DAILY COIN · OCTOBER 24, 2015
We are continuing to monitor Shanghai Gold Exchange withdrawals following the Golden Week holiday and they do seem to be a little down from their peak, but still remain at an impressive 53.4 tonnes delivered in the week ending October 16th – week 40 – the first full week after the holiday. The year to date figure is a fraction short of 2,062 tonnes.
Looking at past years, demand does tend to fall off by a little at this time, but then picks up again as the year-end nears and stocks are built up ahead of the Chinese New Year buying spree. Next year the Chinese New Year – a Monkey year under the Chinese zodiac – falls on Monday February 8th, suggesting strong gold demand in December and January In Chinese astrology, the Monkey is a symbol of health and wealth and those born under the influence of this sign are said to be intelligent, quick-witted and adventurous.
Already the UK’s Royal Mint and Australia’s Perth Mint, in expectation of Chinese gold coin demand, have announced limited edition ‘Monkey’ gold coin mintings aimed at Chinese gift givers.
On the figures to date, we stand by our prediction that Shanghai Gold exchange withdrawals for the full 2015 year will likely reach 2,600 tonnes or more – a huge new record, probably over 400 tonnes more that the previous record year of 2012 when 2,181 tonnes were withdrawn from the Exchange. The year to date figure will probably already surpass last year’s full year total of 2,102 tonnes by the time next week’s SGE figures are announced – and last year was the second highest year ever for SGE withdrawals. Chinese demand, as represented by SGE withdrawals thus remains enormous.
As we have noted before there is considerable disagreement over what actually constitutes Chinese gold demand, with figures calculated by mainstream analysts hugely lower than the SGE withdrawal figures might suggest. The big difference is that the mainstream analysts do not take into account the vast volumes of gold used in internal financial transactions mostly in gold leasing activities.
We recently put forward the viewpoint that a significant proportion of this may be being used by Chinese entities using gold as collateral for obtaining low cost dollar loans and utilising the money so borrowed to take advantage of significantly higher Chinese rates for interest bearing notes.
However, according to a presentation at the recent LBMA meeting in Vienna by Jiang Shu, Chief Analyst of the Shandong Group, while this may be true of using iron ore and base metals as such collateral, it was not so true of gold due to export restrictions on bullion, but that huge amounts of gold were indeed tied up in internal gold leasing
transactions – and quoted a figure of around 1,370 tonnes so employed. With the analysts not counting this as consumption, this would therefore almost wholly account for the differences between the analysts figures and those of the SGE.
Whichever way you look at this though, this all represents gold flows from West to East, despite which it remains the Comex gold futures market which is largely setting the gold price. But the more and more the Chinese become involved in the nitty-gritty of the gold pricing mechanism the more their influence will rise in determining the actual price given these massive gold flows.
Perhaps we will just see the determination of the price by the big money-manipulated Comex futures market replaced by a gold price capable of being manipulated by the Chinese to their own benefit. Whether this would be positive or negative for the gold investor we do not know.
However we would err on the side of the former given the huge amounts of gold held by the Chinese public and the moves by the Chinese to switch from an export dominated economy to one which relies on internal domestic demand, which will itself be determined by public wealth.
- See more at: http://thedailycoin.org/?p=49011#sthash.fzVKW4V9.dpuf
Matt834: The History Of Gold!
Scarlett2575: DELTA IF YOU ARE ON. ARE YOU STILL ROOTING FOR THE END OF THE YEAR FOR A RI/RV. I AM JUST NEEDING A LITTLE PICKER UPPER.
DELTA: IMO..... LIKE I SAID ON CC..... BEFORE END OF THE YEAR ...YES!!!
SITREP (Situation Report)
10-25-15 1:00 AM EST
Deep Source (RV/GCR):
"Activity has increased in Reno. Received two calls from two different contacts. One was that the RV has commenced in New Zealand with the Iraqi Dinar at the rate of $9, Dong $4 and the Zim at 25 cents. The other call reported that Dinar Dealers have begun to shut down and people with SKR's have been getting paid."
Deep Source (Resistance):
"General Dunford is now in control and has been for over a month now. Infighting within the Pentagon is still on-going. The Russian's were given the go-ahead by the 'Forces that be' to checkmate the RKM."
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