ZiG Zagged: Zimbabwe Central Bank Ironing Out Wrinkles In New Currency
Zimbabwe Gold (ZiG), the new currency that evolved from a gold-backed token, has performed well on the foreign exchange market, but has faced difficulties at home. The ZRB announced new steps to combat the black market for the currency and improve its usability on June 4.
The Zimbabwe Reserve Bank (ZRB) appealed directly to the public via its X account to urge people to turn in illegal currency traders or businesses that refuse to accept its new currency. This was part of a continuous effort to combat illegal foreign exchange trading, sometimes at unofficial rates. According to Bloomberg, the ZiG has gained 1.9% against the United States dollar since its introduction in physical form.
ZiG introduction has mixed success
On May 15, South African-based Crime Watch Zimbabwe reported that police in Zimbabwe had arrested 224 illegal FX traders, and the RBZ Financial Intelligence Unit (FIU) froze 90 bank accounts and fined 40 people. The FIU was also monitoring activity in bank services to uncover evidence of illegal ZiG dealing.
The organization reported that the crackdown resulted in “a significant decline in the number of illegal money changers operating in the Central Business District (CBD) [of the capital Harare] and surrounding areas.” Judging from the June 4 RBZ X post, the struggle continues.
Apparently, a lack of coins is another issue troubling the central bank. “The Bank particularly seeks to expand economy-wide availability of small change in the following denominations, ZiG1, ZiG2, ZiG5, ZiG10,” the RBZ stated in an X post that went up several hours after the message about illegal traders.
The RBZ also said ZiG cash would be available for withdrawal from the government-owned Homelink financial services company using debit cards in seven cities beginning on June 10
, and other financial institutions would offer the service in the future.
ZiG gets mixed reviews
The ZiG is Zimbabwe’s sixth currency in 15 years. It is backed by gold and foreign currency but began as a digital currency tied to the price of gold. It was introduced in physical form in April and was greeted with a mixed response from the public.
Source: The Zimbabwean Patriot
The gold-backed token, now called the GBDT (gold-backed digital token), was doubted and criticized because of its resemblance to central bank digital currency.
The GBDT now functions as an “investment instrument” separately from the physical Zig.
Several foreign currencies are still legal to use in Zimbabwe.
FRANK26:"ONLY BECAUSE OF A NEW EXCHANGE RATE".............F26
Parliamentary Services: The government has completed 65% of its program, and the next stage will include new projects
6/8/2024
The Parliamentary Services Committee confirmed today, Saturday, that the current government has completed 65% of its service program, pointing out that the next stage will include the entry into force of new projects.
Baqir Al-Saadi, a member of the Parliamentary Services Committee, told Al-Furat News Agency, “The current government has completed 65% of its service program, as service and housing projects have been started, the completion rate of which has reached approximately 20%.”
He added, "The next stage will include the entry into force of new projects from the 2004 and 2025 plans, and reconstruction will begin as soon as possible, in addition to allocating financial sums in the budget, which amounted to 2 trillion dinars, in addition to the amounts allocated from the Food Security Law, which reached the share of projects in the southern governorates." 27 trillion dinars.
He stressed, "The current budget is large and specializes in the service aspect."
A large group of Black Swans was called a bank, which was interesting because a major Black Swan Economic Event was appearing on the horizon because of bank closures, along with Black Swan Events of a possible World War III, another Pandemic and who knows what, where, how or why.
Over the weekend the Petrodollar was no more, bank deposits tumbled, $300 million was liquidated from the crypto-currency Market in one hour alone,the economy was falling apart and America was about to wake up to failures of 63 banks – like Australians who could no longer withdraw cash from their Bank accounts.
Sun. 9 June 2024:A video has emerged of a reporter interviewing Idaho farmers saying that the state of Idaho is cutting off all water to potato farmers in Southeast Idaho! Farmers told how many thousands of $$ has been spent in planting and now there will be no harvest! Does anyone know what is going on? Has that state been bribed to cause a food shortage?
Saudi Arabia, OPEC states, and Venezuela have formed an alliance against the Deep State, with control over the oil bases firmly in the hands of the elusive White Hats.
On Thurs. 6 June 2024 the Chinese Elders authorized start of the Global Currency Reset payment process for Tier4b (Us, the Internet Group), the results of which wiped out the US National Debt – a good thing because on Fri. 7 June 2024 the Deep State US Inc. government ran out of money and 63 of the Deep State US banks were declared insolvent with Petrodollar Contracts expiring on Sun. 9 June.
Sun. 9 June 2024 Two Black Swan Events for Russia: Herman Gref, the CEO of a major bank in Russia, has predicted that Russia will experience two black swan events.
Apparent Timeline:
As of Thurs. 30 May 2024 any US State could legally obtain their own gold backed currency and bypass the Federal Reserve.
As of Sat. 1 June 2024 International World Trade was using the new Iraqi Dinar Rate in the trade of international goods.
On Mon. Evening 3 June 2024 the Iraqi Parliament finally passed their budget with the new Iraqi Dinar International Rate in it.
On Tues. 4 June large bondholder paymasters were in Reno to begin exchanging their bond portfolios over the next 24 to 48 hour window.
On Wed. 5 June 2024 the shotgun was fired, authorizing liquidity of the bond payments of CMKX that opened the RV/GCR; the General of Brazil authorized release of funds to Brazil and San Paulo started to release funds. The Iraqi Parliament sent the budget with the new Iraqi Dinar Rate in it to the Gazette to be published presumably by Sat. 8 June.
On Thurs. 6 June 2024 the Chinese Elders authorized start of the payment process for Tier4b (Us, the Internet Group). The International Beneficiary Commission authorized some in Tier4b to receive notification. Brazil began sending out notification and setting exchange appointments. A group in Zurich and another group in Brazil went liquid.The BRICS Alliance began Summit meetings in Russia.
On Fri. 7 June 2024the US Government ranout of money and declared 63 banks insolvent according to Janet Yellen. Bonds started becoming liquid.
On Sat. 8 June 2024 Nesara Gesara and authorization came through for the liberation of funds was announced in Mexico.https://t.me/GESARAShow
On Sun. 9 June 2024 the White House was lit up in gold. Saudi Arabia dropped the USD and ended the Petrodollar. It’s the Beginning of the End – the collapse of the Global Financial System. Market Crash Imminent. Trump Rally in Vegas. Russian Fleet in Cuba. RV funds for Bond Holders and Tier4b moving into their positions for payout.
On Sun. night or Mon. morning 10 June 2024 notifications for Tier4b could possibly come out.
On Mon. morning 10 June 2024 Bond Holders and Tier4b should have access to their funds with Tier4b appointments starting soon thereafter.
On Tues. or Wed. 11, 12 June 2024 a Worldwide Economic Collapse was expected to begin.
On Sat. 15 June 15 any bank not Basel 3 compliant would be closed.
Wed. 17 July was the end of the New World Order, with Q Tuesday start of the Golden Age. …The 17th Letter (JFK Jr.) on Telegram
Tues. 6 Aug. Worldwide Web Takeover Declass. …The 17th Letter (JFK Jr.) on Telegram
Sun. 1 Sept. 2024: “The greatest comeback in World History will unfold. Everything you’ve known and seen will become perplexing. You won’t believe your eyes. America will erupt. PATRIOTS WILL PREVAIL. AMERICA WILL TRIUMPH. The house of cards will collapse.” …The 17th Letter (JFK Jr.) on Telegram
Global Currency Reset:
Sat. 8 June 2024: This is the Global event regarding Nesara Gesara in Mexico. They have already announced that last night authorisation came through that liberation of funds come through. Buckle your seatbelts everyone is this has started https://www.youtube.com/live/7D-elBims9k?si=ouo0DpopnlWqLHSR
FRANK26: "FROM JET FUEL TO OLIVE OIL THE WORLD NEEDS IRAQ FOR EVERYTHING!!!"......F26
Iraq: We seek to achieve self-sufficiency in the refining industry and export its surplus abroad
6/8/2024
Prime Minister Muhammad Shiaa Al-Sudani opened, on Saturday, the Al-Azmara unit project for producing improved gasoline in the Basra Refinery with a capacity of (11) thousand barrels per day.
During his speech, Al-Sudani pointed out the importance of opening the Azmara unit in the refinery, and the provision it represents for the country’s need for high-octane gasoline,
stressing that these projects will stop the process of wasting wealth and put an end to the import of petroleum products, which has continued for many years, stressing that the optimal investment for oil wealth is Gas and maximizing resources are among the top priorities of the government programme.
The Prime Minister explained that a series of measures and steps were being taken to expand the production of petroleum derivatives, stressing that the increase in filtering and refining capacities at daily rates, with every opening of a new oil unit, makes us close to achieving self-sufficiency.
He indicated the existence of a new indicator for the export of some derivatives, such as gas oil, naphtha, sulfur, and jet fuel, stressing the continuation of this program during the period of the government’s work, and that the goal is to increase production capacity and improve product specifications. He explained that gasoline production in 2022 was (15 One thousand cubic meters per day, while production today reached (24.8) thousand cubic meters per day.
The project, which was implemented by the National Effort at the South Refineries Company in cooperation with supporting companies, is considered one of the important projects in increasing the production of improved gasoline, with a production capacity of (11) thousand barrels per day, and it will contribute to reducing the quantities of imported gasoline, which will save more than 200 million dollars annually. .
This project, which is considered one of the lagging projects, comes in addition to a number of projects that are being implemented, to contribute to increasing the refining capacity of petroleum products, upgrading the specifications and improving the quality, within the plans of the Ministry of Oil, and in harmony with the government program, to achieve self-sufficiency.
In turn, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, said in his speech on this occasion, “Today we celebrate the opening and completion of the (Al-Zamra Unit) project with a capacity of eleven thousand barrels per day. This project is considered one of the important projects in increasing the production of improved gasoline fuel.” With a capacity of one thousand three hundred cubic meters per day, which is equivalent to one million three hundred thousand liters per day,” indicating that this project “contributes to reducing the import of gasoline by a rate of one thousand three hundred cubic meters per day, and saves the state treasury approximately three hundred and fifty million dollars per year.”
Abdul Ghani pointed out that “the project comes within the ministry’s plans to increase refining capacity, improve the specifications of petroleum products, and improve their quality, after the completion of the fourth refining unit project with a capacity of seventy thousand barrels per day, which entered into operation and production a short while ago,” considering that “the most important thing that distinguishes These projects came about as a result of the national effort of the Southern Refineries Company and its supporting bodies, after foreign companies hesitated to implement them.”
The Minister of Oil continued to say: “The government and the ministry have given great attention to the refining industry sector, with the aim of increasing national production to reach self-sufficiency, and gradually shifting to exporting its surplus outside Iraq.”
He noted that "the period of the year and a half of the government's life witnessed the realization and completion of a number of projects in the refining industry sector, including the North Refinery with a capacity of one hundred and fifty thousand barrels per day, the Karbala Refinery with a capacity of one hundred and forty thousand barrels per day, and the Azmara unit in each of the Refineries Company." The Central and North Refineries Company, in addition to what was achieved in the South Refineries with the completion of the fourth unit with a capacity of seventy thousand barrels per day.”
For his part, Undersecretary for Liquidation Affairs, Hamid Younis, said in his statement, “This project comes within the plans of the government and the ministry to maximize national production and improve its specifications.”
He stressed that the coming period will witness the announcement of the completion of a number of projects in the north, center and south that will add production capacities and enhance the plans of the government and the ministry in producing petroleum derivatives, including the cofactor cracking project, which is one of the promising projects that converts oil waste into white products with Euro 5 specifications and a refining card. Its capacity is 55 thousand barrels per day, which is implemented by the Japanese company “JGC”. All of these projects represent an important addition to the refining industry sector.
Prime Minister Muhammad Shiaa Al-Sudani also opened the steam boiler unit in the Basra Refinery, with a production capacity of 300 tons/hour, to supply the production expansions in the refinery’s units and facilities with the steam necessary for operation.
Sudanese confirms the imminent export of gas oil, sulfur and jet fuel - urgent
6/8/2024
Prime Minister Muhammad Shiaa Al-Sudani announced today, Saturday, the imminent export of gas oil, sulfur, and aviation fuel.
A statement from his media office received by Al-Rabaa stated that “Al-Sudani inaugurated the Al-Ismara unit project for improved gasoline in the Basra refinery, during his visit to the governorate, which he arrived this morning.”
According to the statement, Al-Sudani conducted a tour of the project and was briefed on the stages of work on it, and praised the efforts of the technical personnel working in the companies of the Ministry of Oil, who are relied upon to manage these projects.
Al-Sudani pointed out “the importance of opening the Azmara unit in the refinery, and the provision it represents for the country’s need for high-octane gasoline,” stressing that these projects will stop the process of wasting wealth and put an end to the import of petroleum products, which has continued for many years, stressing that the optimal investment for oil wealth is Gas and maximizing resources are among the top priorities of the government program.”
The Prime Minister explained, "Taking a series of measures and steps to expand the production of oil derivatives, stressing that the increase in filtering and refining capacities at daily rates, with every opening of a new oil unit, makes us close to achieving self-sufficiency."
He stated, “There is a new indicator for the export of some derivatives, such as gas oil, naphtha, sulfur, and jet fuel,” stressing the continuation of this program during the period of the government’s work, and that the goal is to increase production capacity and improve product specifications. He explained that gasoline production in 2022 was ( 15) thousand cubic meters per day, while production today reached (24.8) thousand cubic meters per day.”
He continued, "The project implemented by the National Effort at the South Refineries Company in cooperation with supporting companies is one of the important projects in increasing the production of improved gasoline, with a production capacity of (11) thousand barrels per day, and it will contribute to reducing the quantities of imported gasoline, which will save more than 200 million." dollars annually.
He stated, "This project, which is considered one of the lagging projects, comes alongside a number of projects that are being implemented, to contribute to increasing the refining capacity of petroleum products, upgrading specifications, and improving quality, within the plans of the Ministry of Oil, and in harmony with the government program, to achieve self-sufficiency."
