Usually I will not post these types of articles, but I found this (emailed to me by Ginger) very helpful, about the entire process involved. Supposedly Ms. Mtn. Goat has some expertise and experience in this arena. At least, from my view, she is one of the very few I tend to put any “faith” in regarding these matters.
As always, use discernment.
“The following is what I am hearing the global districts will be looking something like this with their focused media for exchange below:
North American Alliance (Canadian dollar),
South American Alliance (Brazilian Real),
Middle Eastern Union (Iraq dinar),
Far Orient (Chineese Yuan).
Near Orient (India Rupee)
This way if one financial district fails the remaining districts also do not fail thus preventing another global financial crisis. Flexibility must now be decided upon in each of the exchange regiments of these nations.”
Mountain Goat: Hi Everyone,
Earlier in the week I decided to hike up my familiar mountain in the Alps. These are much more than hikes. They are a time for contemplation about recent events and what is happening with this GCR process.
I returned home refreshed and with an appetite for the delicious dinner Meine Hubby prepared for the family. After diner I decided to sit at my desk and compose this news letter. I have taken the time out from my busy schedule to compose this news letter for you fine dinarian friends. I feel it is now the time for all to know this information. This is a very long news letter today so be patient.
I will also review some answers to questions some of you readers have been asking me about other topics related to the IMF global reset plan and the timing of the exchange process.
First I need to review with you how the IMF is using this global reset plan to shore up the global monetary fund and prevent future crisis.
If you remember my news letters prepared last summer I talked in detail about being “careful what you wish for”. All the excitement from these projected large payouts from these foreign currency revaluations is such that you might overlook what is really happening behind the scenes as part of the Global Reset. This money you are about to have is a distraction and there are strings attached.
Do we all understand what this “Global Reset” really is?
In November 2010, the IMF agreed wide-ranging governance reforms to reflect the increasing importance of emerging market countries. The reforms also ensure that smaller developing countries will retain their influence in the IMF. I firmly believe that had the world not experienced this global financial crisis in 2008, we would have had seen the revaluation of the IQD in mid 2012..
In 2010 it was already decided to use the IQD as the foundational currency for the global currency reset so no matter what we, as investors, thought there was going to be a delay until all the IMF reforms were put in place.
The GCR would be one of the final steps in the process. I will explain why I feel this way.
At times we get all hung up and frustrated as to why the Global Currency Reset or GCR is taking so long. In reality it is just a small part of the overall global reset or final conclusion to this IMF 2010 reform package.
We should all be informed that there are other significant changes too that will impact our daily lives whether we are already independently financially secure, run our own business, or are just a blue or white collar worker. Let me tell you about some of these other laws.
Yes I do believe that the impacts of these massive changes of the Global Reset are about to be felt. You need to look at the GCR as one of the final steps to the global reset process. So there have been many other items that needed to be put in place prior to setting off the GCR.
The overall global reset has in fact been taking place now for over 3 years, since its inception in 2010.
Once these items are put in place the IMF will then pull the trigger and revalue some +190 currencies. Some will revalue and others will devalue. Do you care?
It will be unprecedented in the history of the world and will surely be noted in our future history books as one of the greatest events ever.
In comparison this event is like the great depression and the changes the New Deal brought to the United States and to the reset of the world. I want you for a few minutes to imagine what it must have been like during the late 1920’s and early 1930’s. How did people live? What was going on with the stock market, the banks and other financial transactions between countries? Remember also this was pre-WWII era. You might want to read up in this topic.
So what are some of these events called the 2010 IMF reforms? These reforms must be in place as part of the global reset and in place prior to the GCR kickoff. I can tell you with all certainty that this must be done. I do not know all the items (since this world wide and very complicated) nor am I allowed to talk about some of them in this news letter. But I will share what I know and I can share.
Here are a few of the reforms: Do they sound familiar?
IMF quotas to double to about $755 billion (they don’t talk much about what they intend to do with all this newly found money. I will try to explain later)
The bottom line is that 110 countries out of 187 will see their quota share increased or maintained
WTO centralized methods for collection of these taxes
The IMF’s Executive Board has approved far-reaching reforms of the way the IMF is run (much more centralized power)
Significant shift of voting power to dynamic emerging markets, developing countries
The 10 largest members of the Fund will now consist of the United States, Japan, the four largest European economies (France, Germany, Italy, and the United Kingdom) and Brazil, China, India, and the Russian Federation (the BRICs)
Many events/items had to be completed to accomplish implement these reforms:
Develop and Implement new Basel III banking regulations implemented worldwide
Asset inventory of +190 member countries
Recalculate new exchange rates for these currencies
Streamline the process of the currency revaluation rollout
Change over responsibility for the exchange process rollouts from the UST to the World Bank
Ratify the 2010 reforms by each member nation
Increased UN share of all Tariff collections (this is why Iraq Tariff laws were so controversial and took so long to ratify and implement)
Rebalance the exchange rates of +190 nations i.e currency revalue
Do you see now how the Global Currency Reset is just a very small part of the total reform implementation in what we call the global reset?
Can you now see how technically the global reset must be almost entirely completed prior to any GCR happening?
Can you now understand why this has taken over 3 years to implement?
Original Timeline for GCR
The Executive Board of the UN endorsed a timeline that calls for the quota increase and realignments to take effect by the IMF-World Bank Annual Meetings in October 2012, and Executive Board reforms to be implemented no later than the subsequent Board election, which was scheduled in late 2012. The later part did not occur and is late due to late implementation of some of the items that were needed to have done and in place prior.
Again it is so important to understand why this was done and who and what organization is driving these efforts. Certainly it was not totally the IMF or totally the United States Treasury (UST) but a joint cooperation.
Let me tell you what the IMF really is and why they are now taking the lead in the global reset. In order to truly understand what I am about to say you must understand some basic facts about the IMF and how it’s banking system works.
The International Monetary Fund (IMF) is an international organization that was initiated in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries (now 188 countries).
The IMF’s stated goal was to assist in the reconstruction of the world’s international payment system post–World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity and others such as surveillance of its members’ economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries.
Upon initial IMF formation, its two primary functions were:
1. to oversee the fixed exchange rate arrangements between countries thus helping national governments manage their exchange rates and
2. allowing these governments to prioritize economic growth
The crisis of neoliberalism and the future of international institutions: a comparison of the IMF and the WTO and to provide short-term capital to aid balance-of-payments between nations.
This assistance was meant to prevent the spread of international economic crises. Well we all know about the severe crisis in 2008 and so the current funds available in the 2008 pool dried up quickly. This is now why the contributions to these fund hand to increase and member contributions now are doubled to $755 billion.
This was done now in the hope that, should a crisis of this magnitude happen again in the future, there will be ample funding to prevent the spread of the crisis into a global crisis. There are also other measures as part of the reforms now being taken such as decentralization of the median of exchange of the use of the US dollar.
Yes – in the future the US dollar will no longer be King Dollar. Simply put the financial irresponsibility and also the financial corruption of the US government and its banks has shown to the world that any hiccup in the US economy could bring the rest of the global financial markets to their knees.
Thus instigating a major global financial crisis.
Some proactive measures had to be done to prevent this. Of all of these measures were met with great resistance from the USA. This is another reason why the 2012 goals of full implementation of the reforms by the IMF have not yet been met.
I talk about this decentralization by grouping nations into currency districts later in this news letter. This is something in the making and you will see gradual implementation the following years to come..
Part 2 (below)
So in continuing my description of the changes about to happen, let me describe how the global banking system works and how it impacts our RV.
There is one global bank called The World Bank it interfaces with member countries through the World Trade Organization (WTO) the IMF with banks called Central Banks. We all heard about the Central Bank if Iraq (CBI) now I am telling you there are other like CBI throughout the world seeded in almost all member countries.
The Central Banks then manage what we know as the local banks in our cities and neighborhoods. Local banks are rates according to assets into tier banks. The more assets you are responsible for the more power you have in the banking industry.
For instance you locally owned town bank may be a tier 3 bank and have very little say or power to the central bank it reports to.
Just recently the process of modifying and implementing the exchange rates was greatly centralized and is now initiated and first flows down to the Central Banks and then they approve the rates and push them down to the local banks.
Only then can the activation take place and the new rates be used in daily transaction with the banking customers. This is all done via computers but some banks still have backup manuals that list the new rates.
If you were paying attention to some of these RV intel conference calls last spring and summer you heard all about the changes effecting this process. These were changes that were first planned to be implemented as minor changes to the process that then grew into a monster and out of necessity finally into a lengthy implementation process.
We heard about all the testing issues and delays. We all thought that the RV was going to happen at any moment, as we did not understand the total plan and scope of all the reforms necessary prior to any currency revaluations. We were only focused on our goal of becoming rich and not understanding or wanting to understand the big picture.
I have been saying many times that if you really want to know where we are in this RV process follow the IMF plan.
Having said all this I do not want to downplay the interaction and events with Iraq in all this too.
After all they are the foundational currency in the GCR process. We all have witnessed the necessary Iraqi laws, the relief of chapter 7 sanctions, and the political / sectarian issues of Iraq as a major factor also in the delay.
I will also once again tell you they are ready and have been ready for months now.
There is much talk about a 3rd Budget reading. I see much hype in the dinarian intel community about this darn budget once again.
I want to reassure everyone this darn budget has been done and ratified weeks ago.
Please stop diverting your attention and waiting your energies on unnecessary events as benchmarks and concentrate in the direction that is really important. Iraq GOI and Parliament are stalling for time since they have to posture to their citizens that they are still in control.
Did you ever notice that when we once again get close to an RV what do they do? They make an announcement about a budget reading or something about this budget once again. Is it important? Yes it is and I do not want to downplay its significance. But it is done already!
The following is what I am hearing the global districts will be looking something like this with their focused media for exchange below:
North American Alliance (Canadian dollar),
South American Alliance (Brazilian Real),
Middle Eastern Union (Iraq dinar),
Far Orient (Chineese Yuan).
Near Orient (India Rupee)
This way if one financial district fails the remaining districts also do not fail thus preventing another global financial crisis. Flexibility must now be decided upon in each of the exchange regiments of these nations.
This process is now underway but will not hold up the revaluation we are waiting for.
It may however give you some indication of near future opportunities to partake as a speculator in yet other major currency revaluations.
How do the districts interact between each other? The mechanism for exchanging between districts will be the IMF and a new global currency that does not actually belong to any country but to an organization.
This for most will the scary part of this process and the part that has been kept secret. I am bringing this to you today because I felt the impact is going to be so great on our lives that we all should know. I also do not like this hidden government and the shadow in which it works. If it supposed to be so good for the world then why all the secrecy?
Much more global taxation monies to be sent to fund the IMF and WTO for future programs We now all know what these programs are.
The New Tariff Laws
I will tell you one of these projects. I discovered this one when I looked into the new tariff laws for the country of Iraq. These laws allow the IMF through the International Bank of Settlements (BIS) to collect a global taxation from Iraq on tariff revenue. The BIS now is actually the first level collector source by way of a computerized system.
The BIS then distributes part of the collection to the IMF fund while a part then goes back to the central bank of Iraq. This is why it took so long to pass the tariff laws for Iraq. Iraq was forced to finally accept these new global taxes. By the way the payments on these taxes are due at the end of this quarter April 1st. How will they be paid? With they use 1166 rate or the 3.71 rate? Once again it is coming down to deadlines set in the past and how will this stalling of the GCR effect them? What will be the work around this time?
The questions to me and the saga continues. So I want to put this one also to rest if I can.
I know for a fact the Iraqi bond sellout ended late 2 weeks ago. The rate on the Bonds has been locked at CME at $3.71 for close to these two weeks now.
This first bond package will help finance the Iraq currency reform program. I it is done! They are now working on the rollout of the second package of Bonds on April 1st. These bonds are designated for investors and reconstruction programs.
USA Taxation of gains on IQD
Are these special tax provisions for IQN and VNN we are now hearing real ?
No they are absolutely not final. There is only tentative and proposed legislation put before Congress but nothing is definite as of yet.
Is it possible for the President to change the current tax code on currency investments without going through Congress?
United States Federal tax law begins with the Internal Revenue Code (IRC), enacted by Congress in Title 26 of the United States Code (26 U. S. C.).
The Senate and the House of Representatives must pass a bill (a new law) that would then either be signed or vetoed by the President. The President can ONLY approve or veto bills that have been passed in Congress and then if signed they become law.
Then the United States Supreme Court has the right to review the new law and approve it or overturn it as unconstitutional.
The President has no power to make any new laws under the Constitution
I sincerely hope all this information was understandable and helped you today. Sorry this news letter was so long but thank all you fine,, intelligent people for taking the time today to read it.
Does this help going forward as we near the end to this revaluation of the IQD and the global currency reset process.
Does this relieve some of your stress?
Do you now know we are very close to seeing the completion of the global reset.
Do you now know some of the activities going on behind the scenes to support the currency revaluation and make the GCR a reality?
Peace and Luv To Ya,