Emailed to Recaps
Sam Oliver: Christine Lagarde came out the other day and stated that 70% of the world is slowing down even the US. When someone like her speaks from the IMF, I take notice because she has a significant pulse on the world economy.
Back to where we are in the reset. You will continue to see where we are through the gold articles coming out. They are growing. Why? I will continue to look at the charts on this matter and volumes to see what I find out. There is a reason for them. It's a story being unraveled at the moment and the books have been opened.
You may say, but they can just keep the price of gold down through paper certificate sales each day. There is only one problem with this at a certain point and we are there. The interest, fear, and even a value of doing such a thing to an investor becomes something he or she realizes can be taken away and not in their control.
Again, "if you don't hold it, you don't own it." It's the end game on this market and marketers know it now.
We need to know what opens the door to this reset and what will allow us to exchange from sources in the know that can tell us real information about where we are going. Again, the door to laws and regulations in "the gold standard" have been opened.
You see gold education and mining operations opening up for business. You are witnesses it because laws and regulations to open them are available and profits will be made. You are seeing gradual inflation on goods and services that will speed up more and more. This is all part of the process folks. We have a Market ready to implode. What will stop all of this runaway mess?
Gold returning to it's real value.
A reset is done by "revaluing" the fiat dollar against the rate of gold. Since this is a global reset that will pay off the debts of the fiat dollar around the world. It effects the entire world economy. The higher gold gets the more you will see the dollar level off with the value of other currencies around the world. At the same time, other currencies will rise in value.
This will allow the dollar to lose it's value and why many countries are de-dollarizing. As the dollar loses it's value and gold goes up, the lower dollar will begin to pay off it's debts in a fiat system losing it's value around the world with a currency of little to no value.
It clears the books. De-dollarizing is another word for clearing a debt in another country. This is what is happening right now.
At some point in this process, you will see gold reach a value that is high enough for the Central Banks to liquidate their gold assets into their respective banks with a currency of real value. This will be the moment "gold backed currencies" will be born. At that point, currency exchanges for you and me will be golden. Sam Oliver
Gold trades high www.kitco.com/news/2019-04-09/Gold-Trades-Near-2-Week-High-On-U-S-EU-Trade-Tensions.html
This is the break out point I am looking for that will put us in a good place for gold to rise to a level a reset becomes possible. It is a beginning point. The real value is alot higher. www.kitco.com/news/2019-04-09/It-Will-Take-Several-Attempts-To-Break-1-350-Resistance-Scotiabank.html
Sam Oliver: Have you noticed all the articles coming out about the Central Banks getting involved with all the countries of the world yesterday and today? Oil is up. Gold is up. Dollar is down. Oh and Yes, the Central Banks are working with the European Union as well.
The major indexes that measure the world economy is steady this morning, but gold is going up for a reason. We will have answers on this one by the end of the week. Remember what was said this morning about events such as these.
Take a deep breath and don't let your emotions control you at this time. Don't let the inflation of the world become yours. You are almost where you want to be. Sam Oliver
The Economic Plan Is Getting Ready To Go To The Next Level - Episode 1838a
X22 Report: Published on Apr 10, 2019
Tishwash: Will Zimbabwe’s new currency sink or swim?
The government of Zimbabwe has launched a new – but still unofficial -currency. However, this may not be enough to ease the country’s severe cash shortages. Tendai Marima reports.
A month after its introduction, Zimbabwe’s new currency seems to have made little immediate difference to the country’s sustained cash woes.
A free-floating currency, designed to give greater freedom to forex trading, was introduced in February, but with further devaluation and inflationary pressures showing few signs of easing, the monetary measures could risk sinking Zimbabwe deeper into crisis.
The central bank embarked on currency reform in a bid to ease severe cash shortages and stem a liquidity crisis that has fuelled black market foreign currency trading.
Known as the RTGS (Real Time Gross Settlement) dollar, the new tender is made up of bank deposits and bond notes, the surrogate equivalent of the US dollar introduced in 2016 to tackle physical shortages of the greenback.
Since the local dollar crashed in 2009, Zimbabwe has used a host of currencies for everyday transactions, but US dollar flight to neighbouring countries amid Zimbabwe’s economic malaise has led authorities to seek other arrangements.
At a rate of 1:1, the original bond note remained in short supply. The RTGS dollar, initially devalued to 2.5 against the US dollar, is also not widely available.
In theory, the trading of the RTGS dollar should be free, but in Zimbabwe’s banks, trading is severely restricted.
Large exporters with special permits or private foreign currency account holders have access, but ordinary individuals do not.
Instead, the streets remain the easiest source of currency, where black market traders sell at a much higher rate depending on demand.
While imports of fuel, essential medicines, grain and other basic commodities remain choked and inflation continues to rise, the government is confident that the new currency is on the right path.
Finance minister Mthuli Ncube expects a turnaround before the end of the year and hopes the launch of a tradeable currency will restore public confidence in the stuttering economy.
“We are containing the growth of money supply. We’re determined to give value to the currency that we’ve launched and want people to believe in us. We’re determined to make this right,” he told American radio broadcaster NPR.
However, former finance minister and senior opposition leader Tendai Biti, who describes the RTGS dollar as “rubbish”, told African Business the new currency was bound to fail.
“This RTGS dollar, like the bond note, is a lie to the people. How can the government suddenly devalue people’s savings and imagine a rate of 2.5 that is not backed by anything?
The economic fundamentals for a new currency are simply not there, so this RTGS currency is a waste of time, it will only make things worse. Inflation won’t go down. As we’ve seen before with the bond note it’s best to re-dollarise or join the rand union and forget about this [RTGS],” he said in a telephone interview.
While the Reserve Bank conservatively estimates the RTGS dollar could trade as high as four to the US dollar, Biti predicts trading could reach up to eight.
At the root of this devaluation are Zimbabwe’s deep-rooted economic problems.
Over the past five months, month-on-month inflation has surged to 56.9%. Last October, the government’s announcement of a 2% tax on electronic money transfers contributed to panic about rising prices. Many shops shut their doors for a week or more to re-adjust their prices. A fuel price hike in January of over 150% led to the worst nationwide protests in two decades and stoked a violent military backlash.
Businesses forced to black market
For now, businesses are still forced to use black market traders to buy illicit forex in order to remain solvent.
Shop owners in Harare buy forex on the street and price their goods accordingly.
“It’s the only place where we can buy forex, so we set our prices according to whatever the black market rate is,” said Jackson Maponga who runs a small electronics store in Harare, the capital.
At a briefing held last month, the IMF director of communications, Gerry Rice, described the currency reform as “a step in the right direction to address distortions” but warned the outcomes of the new financial measures depended on strong fiscal management.
“[T]he currency reforms’ success, will depend on the implementation of an effective overall monetary policy framework supported by market-determined interest and exchange rates, together with prudent fiscal policies,” he said.
However, the IMF highlighted debt distress, partly due to high government borrowing from the central bank, over-regulation of access to forex and an ever increasing import bill.
While finance minister Ncube is optimistic Zimbabwe will achieve an economic turnaround by year-end, the odds seem stacked against President Emmerson Mnangagwa’s professed vision of a nation open for business given the prevailing political and economic challenges.
The reluctance to allow banks to trade the RTGS dollar without restriction and the slow steps in curbing government spending risk having a disastrous impact on Zimbabwe’s fledgling currency, which could, like many past efforts, quickly be overtaken by the black market. link
Something Big Is Coming, The Hunters Move In On Their Prey - Episode 1838b
X22 Report: Published on Apr 10, 2019
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