WSOMN:
SunniDaze: WE ARE IN A 72 HOUR ALERT STATUS AS OF 9PM (2100) EST 06-13-2016
AdminBill: WE HAVE HAD SEVERAL INFORMATION SOURCES FROM DIFFERENT PARTS OF THE WORLD SUGGEST THAT THE WINDOW OF OPPORTUNITY HAS STARTED WITH THE END DATE FORECAST TO BE THE 16TH.
AS ALWAYS WE HAVE BEEN HERE BEFORE BUT THIS COMES FROM SOLID CONTACTS.
SadieJ: AdminBill...do you have any new info to post ??
AdminBill: SADIE - THERE IS NOTHING MORE TO SAY - RATES ARE GOOD
....
SunniDaze: WE ARE IN A 72 HOUR ALERT STATUS AS OF 9PM (2100) EST 06-13-2016
AdminBill: WE HAVE HAD SEVERAL INFORMATION SOURCES FROM DIFFERENT PARTS OF THE WORLD SUGGEST THAT THE WINDOW OF OPPORTUNITY HAS STARTED WITH THE END DATE FORECAST TO BE THE 16TH.
AS ALWAYS WE HAVE BEEN HERE BEFORE BUT THIS COMES FROM SOLID CONTACTS.
SadieJ: AdminBill...do you have any new info to post ??
AdminBill: SADIE - THERE IS NOTHING MORE TO SAY - RATES ARE GOOD
....
WSOMN cont…..
TurtleIsland1: Venezuela: Leftists are Too Broke To Print More Cash
“The Venezuelan central bank’s own printing presses don’t have enough security paper and metal to print more than a small portion of the country’s bills.”
http://ift.tt/1rmMhVp
Zero Hedge recently wrote:
“Back in February, we commented on the unprecedented hyperinflation about to be unleashed in the Venezuela whose president had just announced that he would expand the “weekend” for public workers to 5 days.
“About the same time, the WSJ announced that, ‘millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived in Venezuela from countries around the world to service Venezuela’s crippled economy. But, instead of food and medicine, the planes carried another resource that often runs scarce there: bills of Venezuela’s currency, the bolivar.’”
“The 747 cargo shipments were part of the import of at least five billion bank notes as the government boosts the supply of the country’s increasingly worthless currency.”
“More planes were coming: in December, the Venezuelan central bank began secret negotiations to order 10 billion more bills which would effectively double the amount of cash in circulation[and thereby also reduce the real value (purchasing power) of Venezuela’s national debt by 50%]. That order alone is well above the eight billion notes the U.S. Federal Reserve and the European Central Bank each print annually—dollars and euros that, unlike bolivars, areused world-wide.“
Yes, it’s true that the U.S. dollar and the EU’s euro are different from the Venezuelan bolivar in that dollars and euros are “world reserve currencies” that are recognized and “used world-wide”. The bolivar, on the other hand, is primarily a “local” currency used and recognized almost exclusively within Venezuela.
However, it’s also true that dollars and euros are also virtually identical to Venezuela’s bolivar in that all three currencies are fiat, debt-based and intrinsically worthless. That equivalence is nothing to sneer at.
Why? Because dollars and euros might do better than bolivars today, but that won’t always be so. Venezuela is giving the world yet another lesson on the inevitable fate of fiat currencies: hyperinflation and national ruin.
• Zero Hedge:
“Where things got even more ridiculous for the Venezuelan government is how much physical currency was needed, and the cost to print it:
“The high cost of the printing binge is an especially heavy burden as Venezuela reels from the oil-price collapse and 17 years of free-spending socialist rule that have left state finances in shambles.
“Most countries around the world have outsourced bank-note printing to private companies that can provide sophisticated anti-counterfeiting technologies.”
What’s so bad about counterfeiting?
If government really wants to print more fiat bolivars to cause more inflation, why pay some foreign printer to produce the additional, intrinsically-worthless notes? Why not simply allow the Venezuelan people to print their own intrinsically-worthless 100-bolivar bills on their home computers and spare government the cost of printing more fiat currency?
Why is an intrinsically-worthless bolivar printed by a foreign printer more valuable than an intrinsically-worthless bolivar printed on some Venezuelan’s home computer?
• Here, in the U.S., rather than rely on the Federal Reserve to print hundreds of billions of intrinsically-worthless, fiat dollars to stimulate the economy—why not repeal the anti-counterfeiting laws and allow private Americans to print our own $100 bills on our own computers? It would save government the cost of ink and paper and also eliminate the costs of distributing “helicopter money” to Americans
Why should intrinsically-worthless paper dollars printed on my computer be disdained while virtually-indentical intrinsically-worthless paper dollars printed by the Federal Reserve be admired? Couldn’t my intrinsically-worthless “counterfeit” dollars be held in the same high regard as the Fed’s intrinsically-worthless “real money”?
Conversely, shouldn’t the Fed’s intrinsically-worthless “real money” be viewed with the same disdain as my intrinsically-worthless, counterfeit fiat dollars?
The answer to these seemingly ridiculous questions is simple: If government allowed Americans to print and use their own “homemade” dollars as if they were every bit as valuable as the “official” fiat dollars printed by the Federal Reserve, the public would soon see that the Fed-printed dollars are just as worthless as those printed with home computers.
Counterfeiting laws exist to deceive people into believing that “officially-printed” fiat dollars are somehow more valuable than “unofficially-printed” fiat dollars.
The truth is that the fiat dollars printed by the Fed are no more intrinsically valuable than the “counterfeit” fiat dollars that could be printed on home computers. If people understood that truth, their confidence in the “officially-printed” fiat dollars would fall—perhaps enough to kill the fiat dollar. If that were to happen, Americans would find themselves in circumstances virtually identical to the current circumstances in Venezuela.
• Zero Hedge punch line:
“The Venezuelan central bank’s own printing presses don’t have enough security paper and metal to print more than a small portion of the country’s bills.”
************************************
Dinar Updates:
rcookie ...THEY HAVE BEEN COLLECTING THE 2010 CUSTOMS TARIFFS SINCE JANUARY...
WHAT THEY ARE TALKING ABOUT NOW IS REVISING AN INCREASE INTO SOME OF THE TAX RATES AND WILL BEGIN IMPLEMENTATION AS OF THE 15TH BY MOST REPORTS...
************
Firefly Article quote: "...a proposal from the Iraqi government for economic and financial reforms approved by the International Monetary Fund and considered successful in this area..."
Looking good folks. NO CHANGES from their plan! in fact IMO, they are well ahead of the agenda.
Q: [...you have any odds for this by the end of the month? 50-50? or perhaps better?]
Firefly: IMO it can literally happen at any moment.
************
rcookie THE NEWLY ANNOUNCED CUSTOMS INCREASES REFER TO INCREASES IN CERTAIN GOODS THAT WILL SEE SPECIFIC INCREASE FROM THE 2010 RATES THAT WERE LAUNCHED IN JANUARY ACROSS THE BOARD...
THEY ARE REPORTED TO IMPLEMENTED ON THE 15TH...
THIS IS WHAT THE IMF TASKED THEM TO DO...THEY NEED TO GENERATE 7.8 TRILLION IN NON OIL REVENUES...AND THIS IS WHAT THEY DID...
AND HAVE BEEN DOING SINCE JANUARY...THEY LOOK TO BE ON TARGET...ACCORDING TO REPORTS...
TurtleIsland1: Venezuela: Leftists are Too Broke To Print More Cash
“The Venezuelan central bank’s own printing presses don’t have enough security paper and metal to print more than a small portion of the country’s bills.”
http://ift.tt/1rmMhVp
Zero Hedge recently wrote:
“Back in February, we commented on the unprecedented hyperinflation about to be unleashed in the Venezuela whose president had just announced that he would expand the “weekend” for public workers to 5 days.
“About the same time, the WSJ announced that, ‘millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived in Venezuela from countries around the world to service Venezuela’s crippled economy. But, instead of food and medicine, the planes carried another resource that often runs scarce there: bills of Venezuela’s currency, the bolivar.’”
“The 747 cargo shipments were part of the import of at least five billion bank notes as the government boosts the supply of the country’s increasingly worthless currency.”
“More planes were coming: in December, the Venezuelan central bank began secret negotiations to order 10 billion more bills which would effectively double the amount of cash in circulation[and thereby also reduce the real value (purchasing power) of Venezuela’s national debt by 50%]. That order alone is well above the eight billion notes the U.S. Federal Reserve and the European Central Bank each print annually—dollars and euros that, unlike bolivars, areused world-wide.“
Yes, it’s true that the U.S. dollar and the EU’s euro are different from the Venezuelan bolivar in that dollars and euros are “world reserve currencies” that are recognized and “used world-wide”. The bolivar, on the other hand, is primarily a “local” currency used and recognized almost exclusively within Venezuela.
However, it’s also true that dollars and euros are also virtually identical to Venezuela’s bolivar in that all three currencies are fiat, debt-based and intrinsically worthless. That equivalence is nothing to sneer at.
Why? Because dollars and euros might do better than bolivars today, but that won’t always be so. Venezuela is giving the world yet another lesson on the inevitable fate of fiat currencies: hyperinflation and national ruin.
• Zero Hedge:
“Where things got even more ridiculous for the Venezuelan government is how much physical currency was needed, and the cost to print it:
“The high cost of the printing binge is an especially heavy burden as Venezuela reels from the oil-price collapse and 17 years of free-spending socialist rule that have left state finances in shambles.
“Most countries around the world have outsourced bank-note printing to private companies that can provide sophisticated anti-counterfeiting technologies.”
What’s so bad about counterfeiting?
If government really wants to print more fiat bolivars to cause more inflation, why pay some foreign printer to produce the additional, intrinsically-worthless notes? Why not simply allow the Venezuelan people to print their own intrinsically-worthless 100-bolivar bills on their home computers and spare government the cost of printing more fiat currency?
Why is an intrinsically-worthless bolivar printed by a foreign printer more valuable than an intrinsically-worthless bolivar printed on some Venezuelan’s home computer?
• Here, in the U.S., rather than rely on the Federal Reserve to print hundreds of billions of intrinsically-worthless, fiat dollars to stimulate the economy—why not repeal the anti-counterfeiting laws and allow private Americans to print our own $100 bills on our own computers? It would save government the cost of ink and paper and also eliminate the costs of distributing “helicopter money” to Americans
Why should intrinsically-worthless paper dollars printed on my computer be disdained while virtually-indentical intrinsically-worthless paper dollars printed by the Federal Reserve be admired? Couldn’t my intrinsically-worthless “counterfeit” dollars be held in the same high regard as the Fed’s intrinsically-worthless “real money”?
Conversely, shouldn’t the Fed’s intrinsically-worthless “real money” be viewed with the same disdain as my intrinsically-worthless, counterfeit fiat dollars?
The answer to these seemingly ridiculous questions is simple: If government allowed Americans to print and use their own “homemade” dollars as if they were every bit as valuable as the “official” fiat dollars printed by the Federal Reserve, the public would soon see that the Fed-printed dollars are just as worthless as those printed with home computers.
Counterfeiting laws exist to deceive people into believing that “officially-printed” fiat dollars are somehow more valuable than “unofficially-printed” fiat dollars.
The truth is that the fiat dollars printed by the Fed are no more intrinsically valuable than the “counterfeit” fiat dollars that could be printed on home computers. If people understood that truth, their confidence in the “officially-printed” fiat dollars would fall—perhaps enough to kill the fiat dollar. If that were to happen, Americans would find themselves in circumstances virtually identical to the current circumstances in Venezuela.
• Zero Hedge punch line:
“The Venezuelan central bank’s own printing presses don’t have enough security paper and metal to print more than a small portion of the country’s bills.”
************************************
Dinar Updates:
rcookie ...THEY HAVE BEEN COLLECTING THE 2010 CUSTOMS TARIFFS SINCE JANUARY...
WHAT THEY ARE TALKING ABOUT NOW IS REVISING AN INCREASE INTO SOME OF THE TAX RATES AND WILL BEGIN IMPLEMENTATION AS OF THE 15TH BY MOST REPORTS...
************
Firefly Article quote: "...a proposal from the Iraqi government for economic and financial reforms approved by the International Monetary Fund and considered successful in this area..."
Looking good folks. NO CHANGES from their plan! in fact IMO, they are well ahead of the agenda.
Q: [...you have any odds for this by the end of the month? 50-50? or perhaps better?]
Firefly: IMO it can literally happen at any moment.
************
rcookie THE NEWLY ANNOUNCED CUSTOMS INCREASES REFER TO INCREASES IN CERTAIN GOODS THAT WILL SEE SPECIFIC INCREASE FROM THE 2010 RATES THAT WERE LAUNCHED IN JANUARY ACROSS THE BOARD...
THEY ARE REPORTED TO IMPLEMENTED ON THE 15TH...
THIS IS WHAT THE IMF TASKED THEM TO DO...THEY NEED TO GENERATE 7.8 TRILLION IN NON OIL REVENUES...AND THIS IS WHAT THEY DID...
AND HAVE BEEN DOING SINCE JANUARY...THEY LOOK TO BE ON TARGET...ACCORDING TO REPORTS...
Wing It Monday CC Replay 6-13-16
Gerry Maguire, Art, and Iko Ward
http://ift.tt/1VW7rGI
********************************
TNT:
SassyD: Supreme Court rules Puerto Rico can't restructure debt -- 06/13/16 10:23 AM EDT
http://ift.tt/1VW8cQ5
************
Tishwash: so now out of Iraq's mouth
The agreement with the IMF is going as planned
Where - Baghdad]
confirmed Iraqi adviser to Prime Minister Haider al - Abadi fiscal policies appearance of Mohammed Saleh, said on Monday that " the agreement with the IMF is going as planned."
Saleh said in a press statement seen by all of Iraq [where] it " The agreement reached last month between Iraq and the International Monetary Fund is going according to planned."
He added that "among the measures that have been approved the payment of all arrears owed to foreign oil companies operating in Iraq by the end of the year, it did not say in favor of the total amount owed by Iraq to those companies. "
http://ift.tt/1rmL7cA
Gerry Maguire, Art, and Iko Ward
http://ift.tt/1VW7rGI
********************************
TNT:
SassyD: Supreme Court rules Puerto Rico can't restructure debt -- 06/13/16 10:23 AM EDT
http://ift.tt/1VW8cQ5
************
Tishwash: so now out of Iraq's mouth
The agreement with the IMF is going as planned
Where - Baghdad]
confirmed Iraqi adviser to Prime Minister Haider al - Abadi fiscal policies appearance of Mohammed Saleh, said on Monday that " the agreement with the IMF is going as planned."
Saleh said in a press statement seen by all of Iraq [where] it " The agreement reached last month between Iraq and the International Monetary Fund is going according to planned."
He added that "among the measures that have been approved the payment of all arrears owed to foreign oil companies operating in Iraq by the end of the year, it did not say in favor of the total amount owed by Iraq to those companies. "
http://ift.tt/1rmL7cA
via Dinar Recaps - Our Blog http://ift.tt/1VW7Skn
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