Don't WAIT!

Tuesday, March 31, 2015

Remarks From UST Secretary Jack Lew on the International Econimic Archetechture and Importance of Aiming High.

U S Department of Treasury : Remarks of Secretary Lew ... on the International Economic Architecture and the Importance of Aiming High



SAN FRANCISCO - Let me begin by thanking George Shultz for the kind introduction, and I want to thank Jack and the members of the Asia Society for having me here today. I have had the honor to follow George at three of the finest agencies of the federal government, OMB, the State Department and now Treasury.



At each, after a generation, George is remembered and admired for his intellect, integrity and leadership, and one can only hope to leave behind the kind of lasting legacy that inspires others who follow. The Asia Society is dedicated to shared prosperity, and no issue is of deeper concern right now on the international stage.



In a world that is changing fast and getting smaller, the challenge for every nation is how to serve our national interests and also work together to make sure economic gains are broadly achieved.

....


Seventy years ago, as one of the darkest chapters in world history was coming to a close, President Franklin Roosevelt called for the creation of new international financial institutions.



Recognizing that rampant economic nationalism and protectionism deepened the Great Depression and the slide to war, he said these international institutions would make the difference between "a world caught again in the maelstrom of panic and economic warfare ...and a world in which the members strive for a better life through mutual trust, cooperation and assistance."


The international architecture began at Bretton Woods with the World Bank and the International Monetary Fund, and was followed with the predecessor to the World Trade Organization -creating the foundation for economic growth, free markets, and financial stability around the globe.



That architecture has made possible an extraordinary period of world-wide growth and prosperity that has lasted for generations. And with the help of these institutions, millions of people have been lifted out of poverty. Nowhere is this truer than in China.



In the almost four decades since it began market-oriented economic reform and turned to the global market, China's per capita income has grown 19-fold, lifting 680 million Chinese out of poverty. China's share of global GDP has increased from about 3 percent in 1990 to roughly 13 percent in 2014.



This transformation was certainly driven by Chinese policy choices but it was also fueled by the availability of open markets and a rules-based global trading system, along with the investments, advice and experience of the international financial institutions.



For instance, the World Bank and Asian Development Bank have worked together in partnership for more than 30 years, and over the course of that partnership, they have invested more than $70 billion to support China's efforts to help the Chinese people climb the ladder of prosperity.



I returned today from meetings in Beijing, where I had frank and constructive conversations with Chinese leaders about the state of our two economies, the bilateral issues we face, and the implementation of China's Third Plenum reforms.



In particular we discussed China's goal of having the market play a "decisive role" in China's economy, and I made clear that along with reforms, it is important to avoid new policies - including technology policies - that work counter to this goal.



I emphasized that the United States welcomes an emergent China that advances peace, prosperity, and stability. Continued strong growth in China, particularly growth based increasingly on consumer spending, supports global growth and prosperity.



We welcome China having a significant role in the global economic and financial architecture, along with a growing sense of responsibility for it.



Both our nations have a strong stake in that architecture, and we welcome China as a partner in maintaining and advancing high standards in institutions as we work together to address the challenges of the 21st century.



With China's economic growth and emerging focus on driving international development, there is considerable interest in how China will integrate into the framework for international economic relations sustained since World War II, how it will use its new influence, and what ideas and ideals it will promote.



I believe that it is in China's interest to continue embracing the international financial system, which provided the foundation for its four decades of growth and prosperity. But I also understand that China looks back at a history that was shaped while it was a developing economy.



There is a broad spectrum from totally embracing the legacy of Bretton Woods, to starting with a blank slate and writing new rules. The question is where on this spectrum China will land.



And while we begin any conversation based on the lessons we have learned since the Bretton Woods agreements about high standards in trade and investment, development, financial transparency, and macroeconomic and exchange rate policies, we also acknowledge that much has evolved as we learned from our experiences.




As we engage with China about the right approach to high standards for the international financial system, neither the United States nor China can afford to walk away from the institutions that make up the international economic architecture.



I am encouraged by my conversations with China's leaders, which reflect a strong desire to remain deeply engaged in existing international institutions and a strong desire to benefit from the lessons learned over the past 70 years as new organizations are launched. China's drive to reform and recognition of the need for high standards reflects the importance of our ongoing engagement.



I would like to discuss today why working together to maintain high standards is in our shared interest. Very early in the Obama Administration we decided to expand the U.S.-China Strategic & Economic Dialogue to serve as a platform to address the most important issues in our bilateral economic and strategic relationship.



From the beginning, a central goal was to strengthen our cooperation with China in the many areas where our interests overlap, to candidly seek resolution of issues on which we have differences, and to strengthen China's stake and role in the global system. And over time, the S&ED and other high-level engagements have produced real results for the American people:



Since early 2009 , U.S. exports of goods to China have roughly doubled, growing much faster than our exports to the rest of the world. Last year, the United States exported around $166 billion in goods and services to China.



Since China de-pegged its exchange rate from the dollar in 2005, the RMB has appreciated approximately 33 percent. Since 2010, the RMB has appreciated approximately 20 percent on a trade-weighted basis. China is also enhancing the transparency of its reserve data, including by adopting the IMF standards for data reporting.



China and the U.S. reached a bilateral agreement on expanding the Information Technology Agreement and China's commitment in the S&ED to negotiate a Bilateral Investment Treaty with the United States under which U.S. firms would be treated like Chinese firms and given non-discriminatory market access, subject only to a specified list of exceptions.



Together, the United States and China account for a third of global GDP and more than 40 percent of global GDP growth in the last three years. And while we cannot take on all of the world's challenges, as the world's two largest economies, we each have a strong interest, as well as a joint responsibility, to pursue policies that support the global economy.



An open and increasingly liberalized global trading system - a system we helped to shape - remains crucial to China's growth and prosperity, as well as to our own. America's open economy has fueled growth and opportunity for our businesses, workers, and farmers: it gives us a large and growing market for U.S. goods and services, allows us to leverage our unique ability to specialize in high value-added, technologically intensive products, from agriculture to microprocessors, and supports high-paying export-driven jobs.



We have enjoyed tremendous benefits from the global economy, but our workers and firms suffer when there are unfair anti-competitive practices at play. This is why we remain so focused on ensuring high standards in trade agreements and on using the G-20, G-7, and intensive bilateral engagement to prevent countries from trying to grow exports based on persistently undervalued exchange rates.



In the Trans-Pacific Partnership, or TPP, the United States and its 11 negotiating partners are working intensively on an open platform that would set the standard for trade agreements in the Asia Pacific region and to which countries that are willing and able to meet the high standards could potentially accede.



China knows it can enhance its economic growth by opening its economy, but many barriers will need to be removed to achieve this goal. And I believe it is in our common interest to continue to break down barriers to trade and investment, maintain open markets, and protect our workers and the environment by setting high standards.



At the 2013 S&ED, the United States and China announced the start of substantive negotiations on a U.S.-China Bilateral Investment Treaty that incorporates all stages of investment, including the pre-establishment phase.




In what amounts to a sea-change in approach, China committed that the BIT would cover all sectors of the economy, opening all economic areas except for those set out in a negotiated "negative list." China's commitment to negotiate on the premise of non-discrimination, fairness, openness, and transparency offers a substantial opportunity to promote investment, and if achieved, will help level the playing field for American businesses to invest and compete in China.



But we have been clear - a successful BIT with China will need to have ambitious standards for investment and include real opportunities for our workers and firms.



For that reason, it is critical that the negative list be short, limited in scope and narrowly defined.



As all of you here in the Bay Area and Silicon Valley know well, strong economic growth thrives best in a business climate where incentives to innovate are protected.



The costs of developing a new technology can be enormous, and if goods, services, and technologies can be easily pirated and copied at little expense, there is a dampening effect on innovation. This is true for the United States.



It is also true for China, where the shift towards the development of domestic technology has already begun, and where future economic success will increasingly depend on the ability to generate new technologies.



Open and fair competition is critical to innovation. China cannot become a leader in innovation by mandating indigenous technology, either through the transfer of technology as a condition of investment, or by requiring the use of indigenous technology, as China proposes to do with its "secure and controllable" Information Communication Technology measures in the financial sector.



During my meetings in Beijing yesterday, I underscored that policies designed to block foreign technology by imposing unfair disclosure terms or outright bans would damage our bilateral economic relationship. It is important that China and the United States work with others to establish and maintain clear rules in cyberspace. We both have a strong interest in making sure that intellectual property, including trade secrets, is protected and violations are prosecuted strictly and effectively.



Cyber-enabled theft of commercial technology or trade secrets, a modern form of piracy, is unacceptable - particularly by state-enabled actors.



China faces enormously complex challenges in making the transition necessary to sustain its growth in the future. These challenges include shifting toward an economy more driven by consumer spending than investment and exports; more driven by services than energy-intensive heavy industry; more driven by innovation and technology than greater inputs of physical capital; and more driven by private businesses than state-owned enterprises.



China's Third Plenum economic reforms - which promised a "decisive role" for the market in allocating resources - represent a credible and serious path for making the transition in each of these areas.



And while Chinese authorities formulated the Third Plenum to ensure their country's own long-term prosperity, there is a striking overlap between where China wants to go and what we are urging them to do, such as increased market access, state-owned enterprise and administrative reform, factor price reform, and financial reform.



China moving towards a more market-determined exchange rate has been an important part of our agenda for years, and it remains at the top of our economic engagement with China today. It is important that China continue to move towards a market determined exchange rate. China's failure to allow the market to play a decisive role in setting the exchange rate has adversely impacted the global economy.



While China has made progress on this front in recent years, its failure over time to allow the exchange rate to adjust has also exacerbated China's external imbalances through its large trade surplus, and impeded its internal rebalancing by favoring resource allocation to investment, heavy industry, and exports, rather than to relatively employment-intensive economic sectors like services.



At last year's S&ED, China committed to reduce its foreign exchange intervention as conditions permit. And intervention appears to have declined since. We expect China to continue to refrain from intervention across different market conditions, including in times of market pressure for a stronger RMB.



In a further step toward embracing international standards, at the November 2014 G-20 Summit, President Xi announced that China will subscribe to the IMF's Special Data Dissemination Standard for reporting foreign exchange reserves. This will bring an important and welcome increase in the transparency of China's foreign exchange reserves.



If China wants the RMB to increasingly be an international currency, a natural next step in the liberalization and reform of the Chinese economy, China will need to successfully complete difficult fundamental reforms, such as capital account liberalization, a more market-determined exchange rate, interest rate liberalization, as well as strengthening of financial regulation and supervision.



This will leave China's economy more balanced internally and externally. Internally it would be less dependent on investment and artificially low interest rates. Externally it would be less dependent on exports and an undervalued exchange rate.



In sum, as China reforms and liberalizes in a prudent yet thorough manner, RMB internationalization can be constructive for China and the world. China has expressed interest in having the RMB qualify for inclusion in the Special Drawing Rights basket, the IMF's international reserve asset currently composed of the dollar, euro, pound, and yen.



While further liberalization and reform are needed for the RMB to meet this standard, we encourage the process of completing these necessary reforms, and qualifying would reflect important progress.



The international financial institutions continue to provide the best framework for multilateral cooperation on international finance and development. China, the United States, and the world economy have benefitted enormously from the global financial architecture.



Both the U.S. and China have a strong interest in preserving and advancing these institutions. China rightly wants to play a greater role, not simply because its economy is large, but because it has a strong interest in, and a responsibility for, maintaining and advancing global stability and growth, and the financial institutions that support these goals.



Simply put, it is not in China's interest to turn its back on the norms developed over the last 70 years that have been critical to China's and America's long-term economic prosperity. And this week's conversations in Beijing confirmed that this is a shared view.



And the U.S. needs to demonstrate its ongoing leadership and commitment by approving the IMF quota reforms . As I have often said, a strong and well-resourced IMF is in America's economic and strategic interest, and that is why the Administration strongly supports the 2010 IMF reforms and why Congress needs to pass legislation approving them as soon as possible.



This legislation is essential to modernizing the IMF's governance and bolstering its ability to respond to urgent international crises - and will preserve the strong role of the United States in the institution without increasing our financial commitment. The IMF repeatedly serves as a first responder, a global economic firefighter aligned with our national security priorities. The IMF is lending to our allies in the Middle East, our largest trading partners, and providing Ukraine with the financial resources it needs to withstand Russian aggression. The IMF was one of the first responders to the Ebola crisis last year.


There is an unfortunate irony here.



The United States proposed the G-20 process at the Finance Minister level in 1999, chaired the first G-20 Leaders meeting in 2009, advocated forcefully and successfully for greater emerging market representation on the IMF's Executive Board.



Congressional approval of IMF reforms will send a clear message to our friends and foes that America is determined to maintain our leading role within the international financial system. And, if the United States does not continue to play its part, others, including China, will step forward to do so.



China's role in international development has grown and will continue to grow with its economy.



As a dynamic, expanding economy that has lifted millions of its own citizens out of poverty, it makes absolute sense that China now become a contributor to broader international efforts to alleviate poverty elsewhere, a new role for a nation that has long seen itself as the world's largest developing country.



The World Bank and regional development banks do this with concessional windows that support the poorest and most vulnerable countries through grants and loans at below-market rate interest rates. We anticipate that China's contributions to these concessional windows will increase given the size and growth of the Chinese economy.



During my trip, we discussed the need for America and China to continue our work to address climate change. The joint action on climate change that President Obama and President Xi announced in November injected momentum into the international climate talks and demonstrated that the world's two largest economies are committed to limiting greenhouse gas emissions and expanding clean energy deployment.



We had good discussions about working together on international climate finance. There is more work to be done to fight climate change and the United States looks forward to continuing our close cooperation with China to shape high standards.



We have made clear to China that the United States stands ready to welcome new additions to the international development architecture, including the Asian Infrastructure Investment Bank, provided that these institutions complement existing international financial institutions and that they share the international community's strong commitment to genuine multilateral decision making and ever-improving lending standards and safeguards.



The standards and safeguards are designed to foster sustainable development by curbing corruption, preventing environmental damage, and ensuring protection of both laborers and affected communities.



I was encouraged by my conversations in Beijing in which China's leaders made clear that they aspire to meet high standards and welcome partnership. Our consistent focus on standards has already had an impact and, as lending begins, the test will be the character of the projects funded and their impact on the people and country they serve. Having the AIIB co-finance projects with existing institutions will help demonstrate a commitment to the highest standards of governance, environmental and social safeguards, and debt-sustainability.



The United States recognizes that it bears a special responsibility for the sound functioning of the international financial system given the significant impact of the U.S. economy on global economic conditions and the dollar's role in international finance system.



That responsibility begins at home, through sound fiscal, monetary, and regulatory policies. But our responsibility also extends abroad, including the need to embrace the increased role of emerging markets to reinforce multilateral rules of the road and international cooperation.





To be clear, China and other emerging markets deserve to have their voices heard. They will have an important role in setting rules and standards for the multilateral system in the future. But it is also true that the slate is not blank. There is accumulated experience and knowledge - developed multilaterally and internationally - that should be preserved and built upon. China is much more likely to succeed, and the rest of the world with it, by aiming high.



Let me close by pointing out that, as President Obama has said, America and China have worked to integrate China into the global economy because it is good for China, it is good for America, and it is good for the world.



Together, the United States and China are the globe's two largest economies, and the actions we take to build prosperity, promote stability, and protect the environment will shape the 21st century. That is why it is in everyone's interests for China to be a strong international partner.



The United States welcomes China's growing involvement in the global economic architecture, as China assumes a more significant role on the international stage, it falls on China to assume more significant responsibilities.



These responsibilities reach far beyond any single issue. They encompass sustainable growth, environmental and worker safeguards, market reforms, the free flow of commerce and access to markets, ideas, and innovation, and the rule of law.



China has important choices to make. These choices will affect the lives of millions today and determine the future for generations to come. The stakes are high. But let me be clear, whenever China works to advance economic opportunity, durable development, and human dignity, America will work with China.



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Dinar Afternoon PM Drive Call - News w/ BGG- Tues. March 31, Audio Player and Replay #'s

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Monday, March 30, 2015

The Next Big Thing Is Almost Here








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Late Sunday Night Jester Chat: " A New Treaty, A Big Change, and a Silver Lining? " 

Jester's Place:



[Jester] HI AND HAPPY SUNDAY MODS, PEEPS, LURKERS, AND CRITTERS...



[Jester] SO HOPEFULLY EVERYONE HAS HAD A GOOD WEEKEND.... AS USUAL IT WAS TOO SHORT...



[Hoosier Girl] Jester Have you got any updates from HP?? (Hocus Pocus)



[Jester] Hoosier Girl I HAVE TALKED TO HER A COUPLE TIMES THIS WEEKEND... WE GOT THE INFORMATION ON SATURDAY EARLY THAT THINGS SEEM TO BE RAMPING UP WITH THE INTERNAL COMMUNICATIONS AT THE STREET LEVEL IN IRAQ... DID TALK TO HOCUS POCUS TODAY... NO COMMUNICATION FROM IRAQ TODAY... BUT I AM TOLD THAT IF SOMETHING SIGNIFICANT HAPPENS WE WILL KNOW... SO THAT IS GOOD ENOUGH FOR ME....



[Hoosier Girl] Jester If good enough for You it is for me too!! Thanks

....


[Jester] JUST FOR THE RECORD.... THERE ARE NO SMART CARDS BEING USED.... THAT IS BS.... THERE HAS BEEN NO PAYOUTS THERE... THAT IS BS TOO... SO BELIEVE WHAT YOU LIKE BUT I AM 99% SURE THE INFORMATION WE ARE GETTING IS ACCURATE BECAUSE I KNOW WHERE IT IS COMING FROM....



[diditrvyeet] Jester you and your info is the real deal for sure



[Hoosier Girl] Jester I trust what you tell us.... You have been spot on every time!



[kat] Jester, thank you for the update



[Jester] HOWEVER... THINGS ARE CHANGING SOMEWHAT AND THERE SEEMS TO BE SOME URGENCY WITH THE LOCAL COMMUNICATIONS... SO HOPEFULLY THAT IS A GOOD SIGN... I KNOW THEY ARE LOOKING FORWARD TO THIS MORE THAN WE ARE...



[LdyFaith] Jester,,, Amen to that,,, they know the definition of suffering



[Hoosier Girl] Jester I’m happy for them. They deserve it way more than us!


[TxBikerLady] Jester this is good news, things seem to be moving right along, thank you for sharing with us.



[AKandyGrahm] Jester - Exogen says the Kurds still aren't happy, they don't have an HCL, and Iraq doesn't have the funds or the liquidity to pay the dinarians. What do you say?



[Jester] AKandyGrahm I SAY I DOUBT THAT EXOGEN IS TALKING TO THE KURDS... HOWEVER... THAT IS EASY TO SAY WHEN NO ONE ELSE CAN VET IT PROPERLY... SOME ARTICLES I READ OVER THE WEEKEND INDICATED THAT A LOT OF THAT IS WORKED OUT AND MOVING THE RIGHT DIRECTION....



I HAVE IT AROUND HERE SOMEWHERE AND AS I FIND IT I WILL BRING IT IN.... BUT... I DO NOT DOUBT THEY ARE READY AND ALL ABOUT WAITING AS WE ARE.... SO LET ME PUT THAT IN PERSPECTIVE FOR YOU...



WHEN WE KNOW O IS TO BLAME FOR HOLDING THIS UP WE ARE TICKED OFF AT HIM... SO WHO DO YOU SUPPOSE THE KURDS WHINE ABOUT WHEN THEY DO NOT GET THEIR WAY... SEE WHAT I MEAN?



[Jester] THERE IS ALWAYS SOMEONE TO BLAME....



[Hoosier Girl] Jester Always someone for sure



[Jester] AND THERE IS ALWAYS SOME INFORMATION TO THROW OUT THAT NO ONE CAN VET... BUT YOU ASKED MY OPINION SO THAT IS WHAT YOU GOT...



[Jester] EVERYONE RESISTED THE BIG PICTURE FOR A YEAR... BECAUSE NO ONE COULD VET IT... MORE LIKELY THEY SIMPLY CHOSE NOT TO.... BECAUSE IT WAS EASY ENOUGH FOR SOME OF US TO SEE... THEY JUST REFUSED TO DO IT... SO AGAIN... IT IS WHAT IT IS... NOW THAT EVERYONE IS TALKING ABOUT IT THERE IS NO DOUBT THAT WAS THE TRUTH FROM THE START...



[jojill] Jester What’s the latest on AIIB



[Jester] jojill LOOKS LIKE A COUPLE MORE JOINED THE RANKS THIS WEEKEND...



[Jester] More countries say to join China-backed AIIB investment bank



[Jester] Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank (AIIB), adding clout to an institution seen as enhancing China's regional and global influence.



[Jester] The AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.



[Jester] Other countries such as Turkey and South Korea have also said they would join. Brazil, China's top trading partner, said on Friday it would sign up and that there were no conditions set. "Brazil is very interested in participating in this initiative," the office of President Dilma Rousseff said in a statement.



[Jester] Russian First Deputy Prime Minister Igor Shuvalov, speaking on Saturday at a forum in Boao on the southern Chinese island of Hainan, said the country plans to join the AIIB, according to the official Xinhua news agency.



[Jester] Speaking at the same forum, Australian Finance Minister Mathias Cormann said the country was planning to apply to become a founding member, according to Xinhua.



[Jester] And the Netherlands also plans to join, Dutch Prime Minister Mark Rutte said on his official Facebook page after a meeting with Chinese President Xi Jinping.



[Jester] China's Finance Ministry said earlier on Saturday Britain and Switzerland had been formally accepted as founding members of the AIIB, a day after Brazil accepted China's invitation to join.



[Jester] China's Finance Ministry said Austria had also applied to join and had submitted its documents to China.



[Jester] "We should push forward with the creation of a regional hub for financial co-operation," Xi said at the forum, adding China should "strengthen pragmatic cooperation in monetary stability, investment, financing, credit rating and other fields."



[Jester] The AIIB has been seen as a significant setback to U.S. efforts to extend its influence in the Asia Pacific region to balance China's growing financial clout and assertiveness.



[Jester] LINK.... http://ift.tt/1a46rM6



[Jester] JOJILL THAT ANSWER YOUR QUESTION?



[jojill] Very much so..thanks



[Jester] SEEMS LIKE THE FENCE SITTING IS JUST ABOUT REACHED THE POINT OF JUMPING TO ONE SIDE OR THE OTHER... SO NOW WE SEE WHERE THE REST OF THE WORLD STANDS ON WHAT THEY THINK WILL BE THE EVENTUAL OUTCOME...



[LuCkYb] looks like the o administration has chased all the countries away ,, and nobody wants to play anymore .. BOO WHOO



[jamesdarren123] Waiting to see what Japan does



[Hoosier Girl] Jester Looks like the US best get with the program...



[Jester] Hoosier Girl THEY CANNOT... IT WOULD UNDERMINE THEIR HEGEMONY TO BE IN CONTROL... FROM THEIR POINT OF VIEW THERE IS NO UPSIDE FOR THEM TO DO ANYTHING DIFFERENT... IF THEY DID IT WOULD ADMIT DEFEAT AND THEN EVERYONE WOULD JUMP SHIP....



[Hoosier Girl] Jester Very True.... Very SAD too for America



[LuCkYb] Jester do you think that on behalf of the world bank that the US would be balsey enough to outright throw a hissy fit and start a war to keep all this from happening?



[LdyFaith] Jester,, but ,,,our upside,,, the world’s upside,, is that the Cabal is gone ?



[Jester] LuCkYb DID YOU NOTICE THAT IS WHAT THEY TRIED TO DO WITH UKRAINE... BECAUSE THAT WAS THE INTENTION THERE... DID NOT WORK OUT THE WAY THEY THOUGHT IT WOULD BECAUSE EVERYONE KNOWS THEY DID IT...



[Jester] LdyFaith NOT QUITE YET.... BUT THAT IS UNDERWAY...



[LdyFaith] Jester,,, for that I can wait



[Hoosier Girl] Jester They are defeated anyway.... They should be able to see what is happening since we can see it



[diditrvyeet] LdyFaith 100% we need to wait agreed



[LuCkYb] JERSTER .. that was then this is now and YES I am fully aware of what they tried to do to the Ukraine .. and Russia didn’t bite



[Jester] THE FACT IS THE CABAL STILL HAS CLAWS INTO THE US... SO THE TAKING OUT OF THE CABAL IS PART OF WHAT IS GOING ON TO TAKE OUT THAT PART OF THE US... UNFORTUNATELY THEY DO NOT UNDERSTAND AND THAT IS WHY THINGS ARE GOING THE HARD WAY IN MY OPINION...



[LdyFaith] Jester,,,, evil always thinks it cannot be defeated



[Jester] SO... NOW THERE ARE OTHER THINGS ON THE TABLE AS THE NOOSE TIGHTENS IN RESPONSE TO THE PREVIOUS PACTS THAT WERE RENEGED ON... WE WILL SEE HOW THAT WORKS OUT....



[LdyFaith] Jester,, can you expand on that part please ?



[AKandyGrahm] Jester -The Cabal does not understand, or the Administration does not understand?



[Jester] LdyFaith WHICH PART...



[Hoosier Girl] Jester Maybe the hard way is the only way to wake up the Sheeple... No free hands out might shake em up some



[LdyFaith] Jester, "other things on the table" ?



[Jester] Hoosier Girl THE HARD WAY HAS NOTHING TO DO WITH THE SHEEPLE... ALTHOUGH THEY COULD HELP AND CHOOSE NOT TO... IT HAS TO DO WITH NOT TRUSTING THE US ANYMORE AND COMING UP WITH A WAY TO WORK AROUND THEIR SHORT SIGHTEDNESS....



[LdyFaith] Jester,,, meaning,, the BRICS and AIIB ?



[Jester] THAT IS WHAT IS GOING ON... THE WHOLE WORLD IS LINKING HANDS IN RESISTANCE TO THE PAST... THEY DO NOT TRUST THE US TO DO WHAT THEY SAY THEY WILL DO....



[Jester] SINCE THE US RENEGED ON THE PREVIOUS GOLD STANDARD RE-INSTALLATION PACT... AND THIS HAS BEEN DOCUMENTED BY OTHERS INCLUDING JIM WILLIE... BUT THE DINAR LAND GURUS DO NOT TALK ABOUT IT... WHY DO YOU THINK THAT IS... IT IS CERTAINLY IMPORTANT...



[Jester] THAT ACTUALLY HAPPENED BACK AT THE END OF 2013... IT IS A FACT... THE UKRAINE WAR WAS THE RESULT OF THE US TRYING TO DISTRACT EVERYONE FROM IT....



[LdyFaith] Jester,,, but it is the piece of the puzzle,,, that makes the completed picture



[LdyFaith] For me at least



[Jester] LdyFaith MAYBE SO... I WAS SURPRISED THEY DID NOT JUMP ON IT BECAUSE ONCE THAT ALL CAME OUT.... EVEN THOUGH I WAS SAYING IT I DID NOT EXPECT ANYONE TO JUMP ON MY WAGON.. BUT WHEN OTHER VERY REPUTABLE PEEPS SAID IT......THEY DID NOT LATCH ONTO IT... LOL




[Hoosier Girl] Jester We need the Gold Standard re installation to move forward correct?



[Jester] Hoosier Girl HA! VERY GOOD... YOU ARE SERIOUSLY STARTING TO BE THINKING AHEAD OF THE SITUATION WITH THE BIG PICTURE IN MIND...



[Jester] NOT THE USUAL WHAT ABOUT THE BUDGET OR THIS OR THAT LAW THAT HAS TO PASS IN IRAQ AND SUCH.... I LIKE THAT....



[Hoosier Girl] Jester It could all be done & ready! Just waiting on all to line up with the timing



[Hannah] Jester I'm not sure how I want to ask this but ... if we need the gold standard re installation in order to move forward... I thought we had missed the boat on that - deadline passed. Do we still have the option of signing and doing it right?



[Jester] NOW... SINCE Hoosier Girl NEARLY GOT IT RIGHT... AND SINCE NO ONE JUMPED ON THAT... I AM GOING TO LET YOU IN ON A SECRET...



[Jester] Hannah NOW YOU ARE ON THE PLAQUE WITH Hoosier Girl ... GOOD THINKING...



[Hannah] Jester Wow ... first time EVER for me! Ha!



[Hannah] Jester Hoosier Girl That puts me in good company I think



[Jester] Hannah THAT IS NOT TRUE... YOU ARE OKAY SILLY...



[Hannah] Jester Thanks



[Jester] OKAY... I HAVE HAD THIS SINCE LAST WEEK AND NO WAY TO GET IT OUT... I HAVE BEEN BUSTING A GUT AT SOME OF THE STUFF WE HAVE BEEN TALKING ABOUT IN THE MEANTIME... LOL



[Jester] AND THE WAY THIS CAME IN WAS CONFUSING WHEN I FIRST GOT IT... SO A LOT OF THOUGHT HAS GONE INTO THIS WITH A LOT OF PEOPLE SINCE THEN...



[Jester] I HAVE RUN THIS BY JUST ABOUT EVERYONE I KNOW... AND THEY HAVE CHECKED THEIR SOURCES TOO... AND THIS IS WHAT WE HAVE...




[Jester] THE WORD CAME OUT THAT WE WERE WAITING ON SOMETHING A COUPLE WEEKS AGO... YOU MAY REMEMBER ME MENTIONING THAT BUT NOT KNOWING EXACTLY WHAT IT WAS... I HOPE YOU REMEMBER BUT IF NOT THEN OKAY....



[Sandhaul] Yes



[caro] yes



[Jester] SO WE SEARCHED AROUND ON THIS FOR A GOOD BIT... AND FINALLY GOT A COUPLE BITES...



[Jester] YOU MAY ALSO REMEMBER ME TELLING YOU... THAT IN LARGE PART... THE INTEL GAME IS A TRADING ARRANGEMENT... IF YOU KNOW THE RIGHT QUESTIONS TO ASK THEN YOU GET A BIT OF INFORMATION.... YOU REMEMBER THAT TOO?



[Hoosier Girl] Yes



[Hannah] yep



[Jester] SO WE BEEN FISHING WITH THE INFORMATION THAT THERE IS SOMETHING "THEY" ARE WAITING ON BUT NOT KNOWING EXACTLY WHAT IT WAS... HOPING SOMEONE WOULD TELL US.... LOL



[PollyP] yes, I thought that was Jester’s rule lol



[Jester] PollyP IT IS... BUT IT IS HARD TO FISH WHEN YOU DO NOT HAVE ANY IDEA WHAT EXACTLY THE BAIT IS... SEE WHAT I MEAN?



[PollyP] Jester, Oh I do, I do!



[Jester] OR FOR THAT MATTER WHAT EXACTLY YOU ARE FISHING FOR...



[Jester] THIS IS A CRAZY BUSINESS SOMETIMES... I CAN TELL YOU THAT IS THE TRUTH... HAHAHAHAH



[kristi] Jester please say it! You have me on the edge of my seat.



[Jester] SO... WE GOT INDICATIONS LAST WEEK THEY ARE WAITING FOR SOMETHING... THEN GOT A LEAD ON WHAT IT WAS...



[PollyP] I can’t breathe



[Jester] SO SET THE WAY BACK MACHINE TO THE END OF 2013... WHEN THEY HAD A GOLD STANDARD RE-INSTALLATION PACT ALL SET UP AND THE US WENT AND TRIED TO START A WAR INSTEAD...



[Hoosier Girl] Yes



[Jester] kristi PollyP I AM DOING IT THIS WAY SO YOU UNDERSTAND THE THINKING... IF I DON'T YOU WILL NOT GET IT...



[kristi] ok



[Jester] IN 2013 THEY HAD AN AGREEMENT.. A PACT... TO GET THIS DONE... AND ALL THE COUNTRIES WERE INVOLVED IN IT... THEY WERE ALL PART OF THE AGREEMENT....



[Jester] THIS BEING THE GLOBAL RESET AND ASSET BACKED CURRENCIES AND FAIRNESS TO THE WORLD AND ALL THAT...


[Jester] SO WHAT HAS CHANGED EXACTLY?



[Jester] NOTHING...EXCEPT THE US INTENTION....



[Jester] SO THE WORLD HAS GONE ABOUT PLAN B SINCE THAT TIME TO WORK AROUND THE FACT THAT THEY ALL WILL LIKE FOR THE RESET TO OCCUR IN SPITE OF THE FACT THAT THE US WILL NOT...



[Jester] SO WE ARE ALL IN AGREEMENT THAT THERE WAS A PLAN... EVERYONE IN THE WORLD WAS ON BOARD... THEN THE US PULLED A FAST ONE... TRIED TO START A WAR... TRIED TO DIVIDE RUSSIA AND CHINA.... AND THE REST OF THE WORLD TOO... BUT IT DID NOT WORK...



[Jester] SO THE REST OF THE WORLD GAVE THE FINGER TO THE US AND STARTED WORKING PLAN B TO GET AROUND THEM...



[clange] yes



[jojill] Yes



[LuCkYb] yeppers



[Jester] SO BY NOW YOU ARE ALL UNDERSTANDING PLAN B I HOPE...




[Jester] SO HERE WE ARE... ON THE BAD SIDE OF THE SITUATION...



[bhd999b] A quick question, please. We have seen where China, Russia and so many more have been buying up gold reserves. I don't remember seeing that the USA was doing that. Do you think or know that we have any gold reserves?



[Jester] BUT... I AM TOLD THERE IS A SILVER LINING IN THE WORKS... WILL EXPLAIN IT THE BEST I CAN... A SILVER LINING SO TO SPEAK...



[Jester] bhd999b LET ME FINISH THIS PLEASE AS THAT HAS ABSOLUTELY NOTHING TO DO WITH THIS...



[bhd999b] Sorry.



[Jester] SO... YOU ARE ALL AWARE... MOST OF YOU ANYWAY... THAT THERE IS A CORPORATE INFRASTRUCTURE THAT HAS BEEN INSTALLED OVER THE US REPUBLIC... WE CAN TAKE THAT AS A GIVEN RIGHT?


[PollyP] yes, this is getting good



[jbmeans] yes



[jojill] Yes



[LdyFaith] Absolutely



[caro] yes



[Jester] THIS HAS BEEN DONE IN A SERIES OF LAWFUL... IF UNCONSTITUTIONAL... EVENTS OVER THE PAST DECADES THAT HAS GOT US IN THE PICKLE WE ARE NOW IN....



[Jester] SO WE ARE NOT THE ONLY ONES AWARE OF THIS FACT... THE OTHER COUNTRIES ARE PURTY SMART AND KNOW IT TOO... THEY PROBABLY KNOW IT WAY BETTER THAN MOST AMERICANS....



[Jester] AND THEY ARE USING THIS FACT AGAINST US AT THIS TIME... THEY HAVE THE POWER TO DO SO BECAUSE THEY HAVE THE INFORMATION THAT WOULD BLOW IT ALL UP IF THEY RELEASED IT.... THAT IS A SMALL PART OF THIS BUT INDEED A PART THAT IS SIGNIFICANT...



[Jester] SO... WHAT IF THE REST OF THE WORLD PROPOSED A TREATY... A TREATY THAT CLEARLY INVOKED THAT POINT AND INSURED THE DEMISE OF THE CABAL INVOLVEMENT IN THE US TO GET THINGS HEADED BACK THE REPUBLIC WAY... THAT WOULD BE GOOD WOULD IT NOT?


[pokerbrat] Like immediately yes



[PollyP] Id love it, I hope they do it



[Hoosier Girl] YES



[LdyFaith] Wow ,,,,, yes



[caro] yes



[Sandhaul] Glory!!! YES



[clange] Si!!



[Jester] A US CORPORATION/REPUBLIC TREATY WITH THE REST OF THE WORLD....




[Hannah] Oh my, yes!



[pokerbrat] Better then an RV



[laylow] Apparently we dont like to honor very many treaties lately....makes me nervous



[chuck60] That will be awesome!!!



[Jester] INSURING THAT THINGS GO THE WAY THEY WOULD LIKE AND END THE CONTROL OF THE CABAL IN THE FED AND RELEASE THE US FROM THE CORPORATION CONTROL BACK TO THE REPUBLIC...


[Hoosier Girl] Jester WoHooo



[Jester] YOU GUYS LIKE THAT? BECAUSE I SURE DID WHEN I GOT THAT...



[ModelWoman] HAPPYDANCE HAPPYDANCE HAPPYDANCE



[Hoosier Girl] Jester WoHooo



[Sandhaul] Answer to prayer!!



[jojill] Wow



[sunflops] WOW



[clange] WOW!!



[Shar] The big picture gets brighter!



[DEVINEHEALTH] yeah



[PollyP] bring it on



[Hannah] I love it!



[Vigilance] PTL!



[pokerbrat] Like it I LOVE IT!!!!



[MarySunshine] Wow



[GodsGurl] Nice



[Jester] AND THAT IS WHAT WE ARE WAITING ON FROM ALL THE THINGS I HAVE GOT ABOUT IT IN THE PAST FEW DAYS...



[AKandyGrahm] How probable is it that that could really happen?



[laylow] Can we trust the corporate US not to pull a fast one?



[Jester] AND THAT WILL GET US ALL BACK IN THE SAME SADDLE WITH THE REST OF THE WORLD AND EVERYONE ON THE RIGHT TRACK...



[Jester] laylow THAT IS THE BIG QUESTION RIGHT THERE...



[DEVINEHEALTH] blood moon sat night--could be a sign!!



[AKandyGrahm] Sounds a little bit too good to be true.



[Hoosier Girl] Jester The Republic of the USA sounds good



[LdyFaith] Jester,,, and the gold ?



[jojill] Jester how would that play out



[Jester] IF NOT THEN THE WORLD ALREADY HAS PLAN B MOVING ALONG NICELY... AND WE WILL BE A THIRD WORLD COUNTRY WHEN IT IS OVER...




[laylow] Jester. Teary eyed now with hope but nervous bout those rascals



[Hannah] Jester So basically the world is saying, we will keep a lid on your dirty little secrets but you have to play right. Oh... and there will be consequences if you don't?



[Hoosier Girl] Jester I think the will work will us as long as the Republic is there



[ModelWoman] Jester Is that why Lew is going to China tomorrow and Tuesday?




[pokerbrat] Jester how will it show its head?



[Jester] pokerbrat AND THAT WAS SPOKE ABOUT TOO... THE AVERAGE AMERICAN WILL NOT HAVE A CLUE AND NOT NOTICE IT.... BUT YOU WILL... OR AT LEAST I AM TOLD I WILL... IF YOU ARE LISTENING AND PAYING ATTENTION YOU SHOULD TOO...



[Jester] ModelWoman NOT SURE... BUT LET ME GIVE YOU SOME MORE THINGS TO THINK ABOUT...



[ModelWoman] Jester OK



[pokerbrat] Jester I will and if not I'll hear it from U



[Hoosier Girl] Jester The sheeple stay clueless



[LdyFaith] HoosierGirl some things will never change



[AKandyGrahm] The US is pretty good at lying in order to keep them "sheeple".



[Betsy Ross] LdyFaith Hoosier Girl very true



[Hoosier Girl] LdyFaith No they won’t



[Jester] THIS IS FROM A COUPLE WEEKS AGO... BET YOU DID NOT NOTICE IT....



[Jester] John Boehner visits Iraq



[Jester] House Speaker John Boehner was in Iraq on Saturday and met with the country’s top officials, Agence France-Presse reported from Baghdad.



[AKandyGrahm] Read it today.



[Jester] THEN HE IS GOING TO BE BACK THERE THIS MONDAY...



[Hoosier Girl] HUmmmmm



[AKandyGrahm] Now, that REALLY worries me.



[Jester] AND A COUPLE OTHERS IF YOU HAVE BEEN SEEING THAT....



[PollyP] double hmmmmmm



[LdyFaith] Jester,,, yes



[Jester] AKandyGrahm SOMEONE HAS TO BE IN CHARGE OF THINGS.... AND IT HAS TO BE SOMEONE ALREADY HERE....



[laylow] Jester Are you implying Boehner is with Republic? I figured him to be corporate.



[Jester] YOU HAVE TO HAVE JUST A BIT OF FAITH... HAHAHAHHAHA



[Hoosier Girl] Jester Yea something is happening.....



[Jester] laylow THINGS ARE CERTAINLY NOT AS THEY SEEM ON ANY FRONT HERE....



[laylow] I dont trust any of them anymore



[Jester] laylow WELL YOU BETTER FIGURE SOMEONE ALREADY THERE WILL RISE UP... OR IT IS DOOMED... SO GET OVER THAT....



[Jester] AND PAY ATTENTION TO REALITY OF WHO IS MAKING THE RIGHT MOVES....



[laylow] Jester got it.



[Jester] SOMEONE IS GOING TO... OR NOT... IF NOT THEN THIRD WORLD COUNTRY... SO START PRAYING SOMEONE STEPS UP...



[Jester] THESE ARE INDICATORS OF SOMETHING GOING ON... ASK YOURSELF WHAT THE HECK BOEHNER IS DOING IN IRAQ IN THE FIRST PLACE AND YOU WILL START TO SEE MY POINT OF VIEW...





[Jester] NOW... THAT IS NOT THE END ALL... THE WORLD MUST BE APPEASED AND THE TREATY INSTALLED... BUT THAT IS AN INDICATOR SOMETHING IS DIFFERENT.... THAT IS ALL I AM SAYING....



[ModelWoman] Boehner The Man with The Plan! Lord Father God Protect him! Amen



[Jester] MAYBE HE IS OVER THERE WORKING OUT A DEAL FOR THE OIL CREDITS FOR THE REPUBLIC SIDE? HMMM? JUST SPITBALLING HERE...


[Hoosier Girl] Jester Good thought....



[laylow] Jester fingers crossed and praying constantly for our once great nation



[PollyP] Jester, I thought the oil credits contracts were with the Republic?



[Jester] PollyP THEY ARE WITH THE UST... UNCLEAR WHO'S SIDE THE UST IS WITH RIGHT NOW.... JUST SAYING...



[PollyP] okay, thanks



[Hoosier Girl] Jester I betting on the good side..



[Jester] THINK MAYBE THAT IS WHY BOTH LEW AND BOEHNER ARE THERE TOMORROW WITH BAN KI-MOON AND OTHERS.... AGAIN.... JUST SAYING...



[AKandyGrahm] Jester - MMMMMMM - I thought the UST was one of the good guys......



[Jester] OTHERWISE WHY NOT KERRY OR SOMEONE ELSE... JUST SAYING...



[ModelWoman] praying praying praying



[PollyP] Jester, that is a lot of power there, I hope they dont mess it up



[Jester] AKandyGrahm YOU HAVE NOT BEEN HERE THAT LONG... LISTEN AND LEARN.....



[LdyFaith] Jester,,, Obviously "something",,,praying



[Jester] AKANDYGRAHM... YOU HAVE TO UNDERSTAND THIS... THE UST IS THE UST.... PART OF THE GOVERNMENT... THE CORPORATE GOVERNMENT.. UNTIL THAT IS RELINQUISHED... AS I HAVE SAID 100 TIMES... IT WILL BE UNDONE THE SAME WAY IT WAS DONE IN REVERSE....



[Jester] UNTIL THAT TIME WE ARE UNDER THE CONTROL OF SAID CORPORATE GOVERNMENT AND THERE IS NOTHING WE CAN DO ABOUT IT....



[Jester] NOW... I HAVE LAID OUT THE SITUATION TONIGHT AS I UNDERSTAND IT... AND AS I UNDERSTAND WHAT THE WORLD IS REQUIRING TO GET THIS DONE...



[Jester] AND WHILE I AM AT IT LET ME SECURE ONE MORE POINT THAT I WAS GOING TO COVER... THE IMF REFORMS... IT IS MY OPINION THAT THE REASON THE REFORMS WERE NEVER PASSED COULD BE ONE OF TWO REASONS.... BOTH OF WHICH MAKE PERFECT SENSE....



[Jester] IF NOT PASSED... THE US RETAINS THE RIGHT TO VETO ANYTHING THE IMF INTENDS TO DO... INCLUDING THE RESET AND LETTING IRAQ RV ON THEIR OWN AND ALL THE OTHER BS YOU HEAR IN DINAR LAND....



[Jester] OR SECOND... THE REPUBLIC NEEDED THAT TO HAPPEN BECAUSE THEY KNEW THE CORPORATION WOULD NOT ALLOW IT SO THEY COULD GET TO THIS POINT RIGHT HERE AND BE ABLE TO SWEEP THE CORPORATION AND THE IMF AND THE WORLD BANK AWAY IN ONE FELL SWOOP....





[Jester] HOPE THAT MAKES SENSE....



[Betsy Ross] yep



[jbmeans] yes



[SoldierofChrist] Jester absolutely



[Jester] SO... NOW YOU ARE SEEING WHAT I SEE TO A CERTAIN EXTENT...



[Jester] I AM SURE WE WILL TALK ABOUT THIS IN MORE DETAIL TOMORROW... HAHAHAHAH



[Jester] THANKS FOR YOU DIE HARDS THAT DID NOT GIVE UP AND CAME BACK KNOWING I WAS NOT QUITE FINISHED...



[Jester] I HOPE YOU ARE SEEING THE BIG PICTURE NOW....



[Jester] LET'S ALL HOPE IT GOES THE WAY WE WILL LIKE IT TO... THE JURY IS STILL OUT... BUT AT LEAST WE KNOW WHAT THE GAME IS NOW....



[Jester] WE SHOULD HAVE SOME ANSWERS THIS WEEK ONE WAY OR THE OTHER I HOPE... THE INFORMATION IS HARD TO COME BY... WE ARE GETTING VERY NEAR HAVING THE ANSWER AND SOME OF THEM ARE AWARE OF THAT... HAHAHAHAH



[Jester] EXPECTING A CALL ANY MINUTE NOW... LOL



[ajmaudio] Better get busy stockin up on food etc just in case.. I am behind!



[nbou] Appreciate all the hard work you've given



[Jester] WELL I WILL LIKE YOU GUYS TO SEE THE BIG PICTURE... TALKING ABOUT THE PIECES IS NOT GOOD ENOUGH...



[Shar] Jester Thank you for the great indicators tonight...bring on the big picture... Praying it will go the right way. Thanks to the mods too



[jbmeans] Jester and for that we are very grateful



[chuck60] Jester Good stuff tonight. Certainly makes sense to me. Thanks!!

[alfonse]



[Jester] SO I WILL SEE YOU GUYS TOMORROW.... TAKE IT EASY AND GOD BLESS...



[Jester] TIME IS UP FOR TONIGHT....





via Dinar Recaps - Our Blog http://ift.tt/1EUzZU9

Saturday, March 28, 2015

Update From Bluwolf Saturday Evening

Bluwolf: Bottom line all data has been fed, all acceptable rates are in, based on the request of each country, this effect has taken a toll of 7 years and now has come to an end.



The GCR will transpire in a question of days, the international rates are in and no outside source has the power to impose themselves over the accords of economic values of any given country.



What some see are just some specific place holders and its value will change simultaneously reflected both in banks screens and forex.



Should I worry about all of you folks after spending 13 years among you, or may I be in peace knowing that all things said by me has sink in.



I choose the latter, may all be in peace, the rates no one has access to for they have been locked down.



Believe if you want, I have spoken my peace. Na'maste Bluwolf

....





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Friday, March 27, 2015

Zimbabwe: Price Cuts Herald Economic Revival

Price Cuts Herald Economic Revival



Bulawayo Bureau



ZIMBABWE is poised for positive economic growth with recent commodity prices and service charges adjustments setting the tone for the desired turnaround, analysts have said.



Government has set the tone for economic recovery in a move that has seen firms and service providers slashing prices to ease consumers’ burden while facilitating increased demand for goods.



Economic analysts have hailed the move and commended firms that have cut prices to lay a strong footing for domestic growth.

~~~


The move is also expected to ease pressure for increased salaries from workers by increasing value for the little money they earn.



Bakeries last Friday slashed the price of bread by 10 percent and effected the adjustment this week.



A loaf of bread now costs an average of $0.70 with the standard loaf pegged at $0.90.



Mobile phone operators set the tone in January when they cut voice call charges to $0.15 per minute from $0.25 and $0.05 for SMS from about $0.09.



In the same month, filling stations slashed the prices of petrol and diesel in light of falling global oil prices.



Delta Beverages joined in by slashing prices for a variety of its products with a 330ml can of soft drink now pegged at $0.60 from $1.



Cooking oil producers have progressively reduced prices in the last two years to almost at par with imported ones at $3 for a 2-litre bottle, from about $4.



The transport sector has also responded with luxury coaches plying the country’s major highways cutting fares by an average $5 per trip.



Last week, bankers pledged to cut charges for their services to consolidate customer confidence and boost growth.



Significant progress is set to be achieved in the context of the newly introduced bond coins, which have buried the problem of change and price distortions.



The bond coins are indexed at par with the United States dollar and are found in denominations of 1c, 5c, 10c and 25c, with the 50c expected anytime this month.



Several businesses such as hoteliers, newspapers, retailers and players in the construction sector are also warming up to price reductions and are already running promotional sales at lower prices.



Ian Ndlovu, an economics lecturer at the National University of Science and Technology, said price cuts have a huge impact on economic turnaround.



“This is quite significant, especially in a deflationary economy like ours. It’ll have a long-term impact in terms of disposable incomes. It will translate to thousands of dollars within half year for the bakery industry for instance,” said Ndlovu.



“It means consumer saving will increase and this will obviously release income for other services.”



Confederation of Zimbabwe Industries’ Busisa Moyo said dropping prices was expected to increase business volumes.



He, however, urged the Government to incentivise growth by looking at the whole economy in terms of arresting costs of production.




“Growth can’t be achieved by cutting prices alone. We need to balance costs all round by bringing all costs down. We need to look at rents and rates and inspection fees as well,” said Moyo.



Another economic analyst and Bulawayo businessman Dumisani Sibanda said progressive businesses should reduce prices to fast track domestic growth.



“The Government has taken a clear position that the cost of doing business must go down. Costs should be reduced and already there is a Cabinet position on that.



“If all businesses heed the call this will quicken the pace of our economic turnaround,” Sibanda said.



Finance Minister Patrick Chinamasa has said price cuts would curb the abuse of the US dollar, which was being devalued by some business sections for profiteering purposes.



The experts, however, said price cuts should be supported by increased financing of the economic blue-print, Zim-Asset, in order to increase economic activity by boosting industrial protection and attracting investment.



“We hope Zim-Asset gets adequate funding so that we begin to revive firms and increase production. We also need the support of the international community as we don’t have capacity on our own.



“Engaging external financers and addressing our external debt is critical in this regard. Right now we’re constrained in terms of stimulating the aggregate supply side of the economy,” Ndlovu said.



http://ift.tt/1xHFSXA





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Late Thursday Night Jester Chat: "It All Has to Get Done at the Same Time"

Jester's Place:



[Jester} HI YA MODS, PEEPS, LURKERS, AND CRITTERS…WHAT'S HAPPENING?



[Jester] SOOOO... ANYONE HEAR ANYTHING GOOD TODAY? I AM ON THE LAPTOP... NO ARTICLES..



[SoldierofChrist] Jester millionday seemed excited about saturday and was wondering if its just hype lol



[Jester] SoldierofChrist DID SHE SAY WHY SHE WAS EXCITED?



[SoldierofChrist] Jester let me look back



[Jester] MAYBE IF I KNEW WHAT SHE WAS EXCITED ABOUT I COULD ANSWER THAT....

....


[SoldierofChrist] Jester Millionday: SO WHAT WE SEE IS THAT ABADI HAS ANNOUNCED IN THE PRESS HUGE SUCCESS FOR MILITARY AND -- ECONOMIC CONFERENCE HAS TAKEN PLACE FOR INTERNATIONAL LARGE INVESTORS – AND NEW ONE COMING UP THIS SATURDAY TO EXPLAIN EVERYTHING TO DO WITH NEW INTERNATIONAL CODING SYSTEM AND ALSO –



[SoldierofChrist] Jester Millionday: WE ALSO HAVE THREE MAJOR LAWS AND WHO KNOWS WHAT ELSE TO BE IN PARLIAMENT ON SATURDAY AS WELL



[Jester] SoldierofChrist SO AS I AM READING THAT I WOULD SAY SHE IS EXCITED ABOUT SOME THINGS GETTING DONE... SO WHY NOT?



IT ALL HAS TO GET DONE AT SOME TIME... MAYBE YOU ARE READING IN THE TIME FRAME... JUST SAYING



[SoldierofChrist] Jester ty




[jam777] jester ... rumor of historical bond funds released real soon ... any of your contacts talking about that ???



[Jester] jam777 WE HAVE BEEN GETTING THAT INFORMATION AND REPORTING IT IN HERE FOR SOME WEEKS....



[jam777] jester ... this week was the rumor



[Jester] THE FACT IS WE KNOW SOME PEEPS GOT TRANSACTED.... THE PROBLEM IS THEY DID NOT GET ANY SPENDY MONEY.... WHAT GOOD IS MONEY YOU CAN LOOK AT BUT NOT TAKE OUT TO GET A HOT DOG.... JUST SAYING....



[Jester] jam777 HAS BEEN RUMORED FOR WEEKS....



[jam777] good point



[Jester] WAS RUMORED FOR LAST FRIDAY TOO.... NOPE...



[Jester] THEN A COUPLE DAYS THIS WEEK.... NOPE....



[Jester] NOW.... THIS IS BOUND TO HAPPEN.... BUT WHAT YOU ARE HEARING IS EVERYONE ANTICIPATING THINGS FROM THE THINGS THEY HEAR....



[Jester] AND WHILE IT SEEMS IMMINENT.... CALLING IT "HERE" IS JUST BAD CALLING IT.... SORRY....



[ModelWoman] Jester Just got here have you already discussed this article?



http://ift.tt/1EYLo7P




[Jester] DID I MENTION I AM ON A LAPTOP?



[PollyP] Jester, can you give some detail about why they transacted some peeps? Is that another SKR deal?



[PollyP] Jester, why do you suppose they did that? They being UST?



[Jester] PollyP DID WHAT? I AM NOT SURE AND JUST LIKE TO MAKE SURE....



[PollyP] more detailed question above



[Jester] PollyP IT WAS IN ZURICH.... THEY THOUGHT IT WAS READY TO DO.... THEY JUMPED THE GUN.... YOU GUYS SERIOUSLY DO NOT REMEMBER ME REPORTING ON THAT A FEW WEEKS BACK?



[Hoosier Girl] Yes I remember...



[Jester] I GUESS THAT IS WHY WHEN SOMETHING GETS MESSED UP NO ONE WILL WORRY ABOUT IT... PEEPS FORGET WITHIN A FEW DAYS.... HAHAHAHHA



[SoldierofChrist] Jester i definitely do




[jojill] Jester..the bonds right



[Jester] jojill YES... YAY!



[caro] I remember



[PollyP] Jester, okay, I was thinking this was something that just happened again. My bad.



[Jester] OKAY... SO BONDS WERE TRANSACTED A FEW WEEKS BACK.... MONEY REPORTED IN PEEPS ACCOUNTS... CAN'T SPEND IT... SO... NOW IT IS HERE AGAIN... YA THINK THEY ARE LOOKING AT OLD INFO? POSSIBLY...



BUT MORE PROBABLE IS THEY ARE GEARING UP AGAIN AND THAT IS WHAT EVERYONE IS HEARING....


[Jester] WHAT I CAN TELL YOU IS NO ONE HAS SPENT A DIME SO FAR.... AND THAT IS THE FACT JACK....



[hoot2602] Jester For sure, you've told us that before



[jstbringit] Jester Any thoughts or prognostications about what Janet Yellen may say tomorrow and if/will it have any impact on our investment?



[Jester] jstbringit HANG ON I HAVE HER ON SPEED DIAL... I WILL GIVE HER A JINGLE WHILE I HIT THE LITTLE BOYS ROOM....



[jstbringit] Jester OK, sounds good.....turn your mic off while you are in the little boys room, unless you want to be like Leslie Nielson..... Hahahahaha



[jstbringit] Some older folks with good senses of humor will pick up on that hopefully....... lol



[tallpines] Jeste Not on topic but looking for your thought.. Lots of moving pieces.. but its things you hv spoke about.. more peeps moving to AIIB it does just seem a matter of time. also I do think the plane thing is more.. With what is all going on with countries moving to AIIB..(warning to all Involved by US) from what I read the one mother daughter from US was Booz Allen. Same company Edward Snowden was from. I know you hv said over thinking.. your thought..



[Jester] tallpines GOOD SOURCE? I HAVE NOT SEEN IT.... SEEMS A STRETCH TO ME... THAT THE US WOULD SHOOT DOWN A PLANE IN GERMANY WITH NO TROOPS IN THE AREA AND OUT IN THE MIDDLE OF WHERE EVERYONE WOULD OBVIOUSLY KNOW....



[Jester] jstbringit SERIOUSLY... HARD TO SAY OBVIOUSLY.... BUT IT IS POSSIBLE... I AM TRYING TO FIGURE HOW THEY ARE GOING TO DO WHAT I HEARD TODAY AND THAT MIGHT BE PART OF IT...



[jstbringit] Anyone notice that every time the rumor mill has us on high alert, the gold and silver prices are around a solid number? Right now gold at 1200.90 and silver at 17.02



[PollyP] Jester, what did you hear, please?



[nano59] Jester and you heard WHAT?



[Jester] jstbringit WELL... THE FACT OF THE MATTER IS THE FED IS IN A BAD PLACE.... THEY KNOW IT... NOW IT IS SELF DEFENSE MODE... INTEREST RATE RISE OR QE4 THAT IS MY THOUGHTS....



[jojill] Jester the copilot locked out the pilot and crashed it deliberately



[LuckyB] and MH-317 has never been found either ..



[jstbringit] BUt seriously about my above comment about metal prices......I've watched it ever since it tumbled from the 1800 gold and 35 silver numbers. EVERY time, dinarland thought we were there, the numbers paused near a full or half number (like it would be easier to work the math out) for figuring it out



[Jester] jojill THAT IS EVEN MORE FAR FETCHED...I WILL BELIEVE THAT WHEN I CAN HEAR IT...



[jojill] Jester they could hear the pilot pounding on the door



[jstbringit] My bet is on no interest rise and QE4 will happen, but without a major announcement......it'll just continue



[AKandyGrahm] Jstbringit - that's my thought, too.



[Jester] jstbringit THEY HAVE CALCULATORS AND COMPUTERS AND STUFF... WE ARE NOT USING STICKS AND STONES TO COUNT ANYMORE...



[Jester] jojill WHO IS "THEY" YOU HEAR IT?



[Jester] jstbringit I AM LEANING THAT DIRECTION TOO....



[jojill] Jester the black box



[Jester] jojill OKAY... PLEASE LISTEN... I DIDN'T HEAR IT...



[Jester] I WILL LIKE TO HEAR IT...



[Jester] NOT TAKE SOMEONES REPORT ON IT....



[jojill] Jester right



[Jester] THEY DO PUT THAT OUT...



[jstbringit] Jester exactly......but I assure you, EVERY time that there has been overwhelming evidence that "we are there", the metals paused at a number that was "easy to work with"....... and they've done it again now



[Jester] jstbringit THAT IS A COINCIDENCE OF NEVER BEING RIGHT ALONG WITH ALL THE GURUS.... I DO NOT SEE THAT HAPPENING...



[Jester] IF WE NEVER GET TO HEAR IT THEN I WILL SAY... HMMMMMM.....



[jstbringit] Jester I'm good with that.......possibly part of a misinformation campaign to the gurus.....



[jstbringit] But I really have tracked it and it has happened.....They've paused for days before



[PollyP] Jester, I was hoping we were closer to the Fed going away, not more QE debt.



[Jester] PollyP GOING TO TAKE SOME TIME... REPEAT AFTER ME... IT WILL BE UNDONE THE SAME WAY IT WAS DONE....



[PollyP] GRRRR



[jstbringit] PollyP I think none of it will be visible.......but just my .02



[PollyP] Nothing but extortionist, my .02



[Hoosier Girl] PollyP The Sheeple will never know anything happened but their money changed



[jstbringit] PollyP But no one noticed when it happened.....either



[jstbringit] Like Jester said....it has to be undone the same way!



[AKandyGrahm] Jester - but will it be undone in time..... the end of times seem to be coming upon us very quickly, too. (I don't expect you to answer that).



[Jester] AKandyGrahm I CAN ANSWER IT... THE TIME IS NOT THE SAME... IT MAY TAKE SOME TIME TO UNDO IT BUT NOT AS LONG AS IT HAS BEEN.... THE END OF TIME IS NOT CLOSE YET.. YOU WILL NOT NEED A GURU TO TELL YOU WHEN THAT HAPPENS.... HAHAHAHAHA



[jojill] Jester any signs the US will flip and go with AIIB



[Jester] jojill I DO NOT SEE THAT HAPPENING...



[Jester] THEY WERE ALREADY INVITED AND TURNED IT DOWN... O CANNOT EAT THAT MUCH CROW....



[PollyP] Jester, any signs Congress may surprise us and approve the IMF reforms?



[Jester] PollyP WHY WOULD THEY? THEY DO NOT DO IT FOR 5 YEARS... NOT GOING TO HAPPEN NOW....



[Hoosier Girl] Maybe the Republic dont want the IMF reforms??



[Jester] I WILL LIKE YOU GUYS TO CONSIDER A THEORY THAT I HAVE PUT FORTH BEFORE THAT YOU ARE STILL NOT CONSIDERING....



[Jester] THAT THIS IS ALL PART OF THE PLAN TO TAKE THE CORPORATE US AND FED CENTRAL BANK DOWN.... AND THERE IS NOT A DANG THING THE US CAN DO ABOUT IT... I AM THINKING THAT O IS AN UNWITTING HELPER IN THIS SCENARIO....



[Jester] Hoosier Girl EXACTLY... THANK YOU FOR USING THE OLD NOGGIN....



[AKandyGrahm] Jester - I have to agree with that.



[PollyP] Jester, I love THAT theory! Bring it on



[tallpines] Jester love that..



[Hoosier Girl] Jester Hey you have taught me well!



[Jester] DO NOT FIGURE THE IMF REFORMS TO BE A GOOD THING IF YOU ARE LIKING TO TAKE OUT THE IMF.... JUST SAYING....



[Hoosier Girl] Jester That right



[Jester] AND THAT IS WHY THE IMF AND THOSE GUYS AE PLAYING ALL NICE SAYING THEY LIKE TO WORK WITH THE AIIB... THAT IS ALL THAT IS GOING TO BE LEFT AFTER THIS...



[jstbringit] Jester The US will not agree to anything that is a step toward them giving up veto power....



[Jmk47] Jesterrrrrr',,,,,,,,any chance the republic could join the a I i b behind the scenes



[Jester] Jmk47 NOPE... NOT HAPPENING... DON'T NEED TO...



[Jester] BETTER BE READY FOR THE AIIB TO SAY... WELL YA KNOW.... DON'T NEED YA...



[AKandyGrahm] Jester - am I wrong.... I thought that was part of the Chinese plan - to take out the IMF and the World Bank.



[jstbringit] ^^^^ That's the part I was not sure about......



[tallpines] Jester Jmk47 NOPE... NOT HAPPENING... DON'T NEED TO... why??



[jstbringit] But sounds good to me!



[Jester] NOT PART OF THE PLAN.... YOU GUYS STILL THINK OF IT AS TWO THINGS... AND IT IS NOT TWO THINGS... IT IS ONE GOVERNMENT....



[alfonse] Jester A re-inhabitation



[Jester] alfonse IT IS LIKE THAT TO A CERTAIN EXTENT.... THE LAWS PEEL AWAY TO REVEAL THE REPUBLIC....



[alfonse] Jester yes



[jojill] Jester how much time do you think we have between the rv and the dollar crash



[Jester] jojill NO IDEA... BUT I STILL FOR THE LIFE OF ME CANNOT FIGURE OUT WHY YOU GUYS WORRY ABOUT IT SO MUCH... IT DOES NOT NECESSARILY AFFECT WHAT YOU HAVE HERE... JUST WHAT IS INTERNATIONAL....



[Jester] LET ME PUT THIS INTO PERSPECTIVE....



[Jester] YOU CANNOT AFFORD A MERCEDES RIGHT NOW....



[Jester] THEN YOU CASH OUT AND YOU HAVE A BUNCH OF MONEY.... AND YOU CAN NOW AFFORD A MERCEDES EVEN THOUGH IT COST MORE BECAUSE THE DOLLAR IS CRASHED AND THE EXCHANGE RATE IS DOWN....



[Jester] BUT YOU ARE WORRYING ABOUT IT....



[Jester] GET SOME PERSPECTIVE PEEPS....



[jojill] Gotcha



[Jester] SERIOUSLY.... YOU ARE COUNTING MONEY YOU DO NOT HAVE YET.... HAHAHAHAHA



[jojill] Jester no I just want to be ready



[PollyP] yep, just checked. no money......



[AKandyGrahm] lol





[Hoosier Girl] I aint buy too much of anything till after the dust has long settled.... Just desire a long vacation while waiting...



[Jester] jojill WELL NO PROBLEM THERE... BUT THERE IS NOTHING YOU CAN DO BUT HAVE A PLAN TO TAKE CARE OF IT THE BEST YOU CAN....



[Jester] THE FIRST THING I AM GOING TO DO IS GRAB A LOAD OF HARD ASSETS IN COINS.... THAT WAY NO MATTER WHAT HAPPENS I AM COVERED...



[Jester] THE SECOND THING IS SECURE FOOD AND WATER A LOT BETTER THAN I AM DOING NOW...



[jojill] Jester me too



[PollyP] Im going back to the farm...



[Jester] AND SOME BAZOOKAS AND THINGS LIKE THAT.... HAHAHAHAHA



[MotoXR] Jester have you thought about getting your own well?



[Jester] MotoXR I HAVE ONE NEXT DOOR....



[MotoXR] Perfect!



[skidinar] Jester Bazoookas !! ha ha ha ha



[Jester] skidinar I'LL SHARE....



[AKandyGrahm] Hmmmm. That is what Jim Rickards said to do - food, water, guns & ammo, and hard assets. I'm on my way.



[alfonse] Good Night and God Bless





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The Big Call - Recording Link and Replay #'s for Thursday Night 03-26-15


















The Big Call - Recording Link and Replay #'s for Thursday Night 03-26-15



RECORDING LINK



Playback number: (559)726-1159

access code 123456#



113 Minutes



The Big Call









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Thursday, March 26, 2015

Tuesday, March 24, 2015

The Big Call - Recording Link and Replay #'s for Tuesday Night 03-24-15


















The Big Call - Recording Link and Replay #'s for Tuesday Night 03-24-15



RECORDING LINK



Playback number: (559)726-1159

access code 123456#



116 Minutes



The Big Call









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Dinar Afternoon PM Drive Call - News w/ BGG - Tues March 24th Audio Player and Replay #'s

Monday, March 23, 2015

BULLDOG75: WASHINGTON CANNOT STOP CHINA!!!

(Thank you Bulldog for sending this to Dinar Recaps.)



BULLDOG75: WASHINGTON CANNOT STOP CHINA!!!



Washington cannot stop China so they have thrown in the towel and will join them, the China led AIB. De-dollarization continues. 35 nations have joined as founding members and Washington realizes it has been whitewashed. Final score: ChinaAIB 35, Washington 0. Defeated, limping, whitewashed and bruised black and blue, Washington concedes. GCR is around the corner. Watch gold and silver go to probable $5000 and $300 respectively along with the currency reset Buckle up.



Stay blessed. Play it close to the vest. :)







Washington Blinks: Will Seek Partnership With China-Led Development Bank

by Tyler Durden



Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB.


Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application. Because the AIIB effectively represents the beginning of the end for US hegemony, the White House has demeaned the effort from its inception questioning the ability of non-G-7 nations to create an institution that can be trusted to operation in accordance with the proper “standards.” Now, with 35 nations set to join as founders, it appears Washington may be set to concede defeat. Here’s more, via WSJ:

The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank.



The collaborative approach is designed to steer the new bank toward economic aims of the world’s leading economies and away from becoming an instrument of Beijing’s foreign policy. The bank’s potential to promote new alliances and sidestep existing institutions has been one of the Obama administration’s chief concerns as key allies including the U.K., Germany and France lined up in recent days to become founding members of the new Asian Infrastructure Investment Bank.



The Obama administration wants to use existing development banks to co-finance projects with Beijing’s new organization. Indirect support would help the U.S. address another long-standing goal: ensuring the new institution’s standards are designed to prevent unhealthy debt buildups, human-rights abuses and environmental risks. U.S. support could also pave the way for American companies to bid on the new bank’s projects.



“The U.S. would welcome new multilateral institutions that strengthen the international financial architecture,” said Nathan Sheets, U.S. Treasury Under Secretary for International Affairs. “Co-financing projects with existing institutions like the World Bank or the Asian Development Bank will help ensure that high quality, time-tested standards are maintained."




So essentially this is just the old “if you can’t beat ‘em, join ‘em” strategy disguised as an attempt to bring the AIIB into the fold of US-dominated multinational institutions.












But make no mistake, this is at best an example of Washington cutting its losses and at worst an outright surrender, as no one should pretend that the AIIB, which is starting with $50 billion in capital, will remain subservient to the ADB which, after five decades, has barely three times that amount:







Infrastructure needs around the world are enormous. Emerging countries need new ports, railways, bridges, airports and roads to support faster growth. Developed economies, meanwhile, must replace aging infrastructure. The Asian Development Bank estimates its region alone faces an annual financing shortfall of $800 billion a year. The consulting firm McKinsey & Company estimates global infrastructure-investment needs through 2030 total $57 trillion.



By comparison, the Asian Development Bank has just $160 billion in capital and the World Bank-which has co-financed with other regional institutions for years—has around $500 billion. The China-led bank plans to have a $50 billion fund to start.

And with that, one more leap towards de-dollarization is now in the books.



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Sunday, March 22, 2015

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Viet Nam Gov't Vows To Improve Business Environment

Vietnam Gov’t Vows To Improve Business Environment To Match Regional Leaders In 2015-16



The government of Vietnam plans to improve the country’s business environment so that most of its important indicators will catch up with those of top ASEAN countries between 2015 and 2016, according to a government resolution issued last week.



According to the resolution released March 12 on key tasks and solutions to improve the business environment and enhance national competitiveness in the 2015-2016 period, the local business environment’s indicators will surpass the average level of the ASEAN-6, a group of six smaller ASEAN economies including Vietnam, by the end of this year.

~~~





ASEAN stands for Association of Southeast Asian Nations, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar, and Vietnam.



A number of key indicators will be raised to the minimum average level of the ASEAN-4 group, the top four biggest ASEAN economies, including Singapore, in accordance with international practice by the end of 2016, according to the resolution.



To achieve the targets, relevant state agencies are tasked with focusing on improving the business environment, promoting the reform of administrative procedures to shorten the time needed to complete them, reducing paperwork, and cutting costs for local businesses.



In addition, state administrative agencies will have to ensure transparency and accountability.



Moreover, there will be comprehensive reform of regulations on business conditions and professional management of goods and export-import services so that they will be consistent with international practice.



In particular, the tax payment time will be shortened to less than 121.5 hours per year, while the time to complete premium payments for social insurance will be less than 49.5 hours per year.



The percentage of local enterprises conducting electronic tax declarations will be over 95 percent, and the rate of electronic filings for corporate tax payment will be at least 90 percent.



Bui Quang Vinh, Minister of Planning and Investment, late last month told Tuoi Tre (Youth) newspaper in an exclusive interview that 2015 should be considered the Year of Enterprises, during which actions must be taken to further improve the business environment for the sake of enterprises.



He stressed that only when the business climate is improved can authorities gain confidence in enterprises and thereby encourage them to invest their money in business.



The minister expressed his hope that the revised Enterprise Law and Investment Law, which were both approved by the National Assembly late last year, will create new momentum to boost investment in Vietnam by both domestic and international investors.



Besides the two amended laws, the country’s economic institutions should also be further renovated to better suit the business environment in Vietnam, he added.



Nguyen Dinh Cung, head of the Hanoi-based Central Institute for Economic Management, told newswire Tri Thuc Tre that Resolution No. 19, which was promulgated in March 2014 and the predecessor of the resolution passed last week, has yielded some fruitful results.



Resolution No.19, focusing on a number of measures to improve the business environment and enhance national competitiveness, was tailored for Vietnam to reach the average level of ASEAN-6 countries by the end of this year.



After a year of implementation, the business environment of Vietnam has made positive improvements, he said.



In particular, some important results have been achieved, for example the number of administrative procedures needed to start a business has been reduced from 10 to five, and the time to complete all of them has been shortened from 31 days to six days, Cung said.



The duration needed to pay tax and social insurance premiums has also been cut from 872 hours to about 400 hours, he said.



In terms of power, the Ministry of Industry and Trade and Vietnam Electricity have built a chart to bring the time for power access to 36 business days.



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2015 Should Be Year Of Enterprises: Vietnam Investment Minister



This year should be considered the Year of Enterprises, during which actions must be taken to further improve the business environment for the sake of enterprises, said Minister of Planning and Investment Bui Quang Vinh.





>> Korean investors consider Vietnam as best location for business expansion in 2015



Minister Vinh made the statement in an interview with Tuoi Tre (Youth) newspaper on the occasion of the Tet (Lunar New Year) holiday that ended on Monday.



He stressed that only when the business climate is improved can authorities gain confidence in enterprises and thereby encourage them to invest their money into business.



The minister expressed his hope that the revised Enterprise Law and Investment Law, which were approved by the National Assembly late last year, will create new momentum to boost investment in Vietnam by both domestic and international investors.



Besides the two amended laws, the country’s economic institutions should also be further renovated to better serve the business environment in Vietnam, he added.



"I think it is necessary to suggest the year 2015 be set as the Year of Enterprises so that we can do more for the sake of enterprises. If enterprises cannot develop, then the national economy will not be able to develop either," the minister said.



Support for private businesses



Regarding foreign direct investment (FDI) in Vietnam, Minister Vinh said FDI businesses accounted for 68 percent of the country’s total export turnover in 2014.



“From the view of attraction of foreign investment, this figure reflects success in the field, but considering the national economy’s health, it causes concern,” the minister said.



Although it is possible that Samsung’s products exported from Vietnam have “Made in Vietnam” labels, everybody thinks they are products of South Korea, he explained.



Therefore, domestic businesses should improve and become stronger so that they can apply foreign technologies to create products under Vietnamese brands, he said.



“In the long run, we should give more support to local businesses, especially those in the private sector. And private businesses must become the most important driving force of the national economy,” the minister said.



As regards support for the private economic sector, Vinh said his ministry will draft a bill on small- and medium-sized enterprises later this year to offer assistance to the development of private businesses in Vietnam.



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