DINAR REVALUATION

Monday, April 15, 2024

How much dinar did 45 say the United States was holding 04/15/24 BY PIMPY

"RV UPDATE" BY WOLVERINE, 15 APRIL

Sat. 13 April Wolverine on the latest news from Rod Steel

“My friend spoke with Patriot Rod Steel today and confirmed that he spoke to some title agents and they received funds. I’m told the paperwork has just been completed and the Admiral will release everything on Monday 15 April. The Iraqi government will release the new ‘lower denomination’ banknotes this week and then publish the new Dinar exchange rate (4+) which will be published in the Official Gazette on Sunday 14 April and then move to FOREX next Monday.

My very close friend reviewed this information with two other contacts – someone very close to the Admiral, who works with him daily. And the second gentleman is very close to those on Bond’s side who are regularly privy to the details.

Both are also in line with Rod’s news, which is extremely encouraging. We also know that Mark is hearing similar stories.” More from Ginger: “I can’t give details because I’m sworn to secrecy, but I can say that the documents were signed by people we know AND others heard good news from their group leaders on the T3 Bond side. I personally don’t know anyone in T3 who has liquid funds to spend so far, but I’m very happy with all the news we’re getting. I am firm and stable, being optimistic.”

Judy Note Correction on Zim Bond Redemption, 15 APRIL

Judy Note Correction on Zim Bond Redemption

Thanks to Becky Subrahmanyam and MarkZ I have learned that this statement I made in past reports is not true: “Zimbabwe has announced their gold-backed currency and their bonds must be redeemed by Tues. 30 April 2024.”

There are three kinds of Zim money: 2008-2009 Zim Bonds, Zim fiat money and the new asset-backed Zig. MarkZ explained: “The Zim fiat money must be redeemed by Tues. 30 April 2024 for the new Zig. The time limitation has nothing to do with 2008-2009 Trillion Series Zim Bonds that we hope to exchange for USN.

The gold/asset backed currency is the new Zig currency and it does not need to be redeemed. Only the Zim fiat money needs to be redeemed by Tues. 30 April 2024.” I apologize for any misunderstanding this may have caused. …

Judy

MAJOR Issue Holding Up RV What Iraq is Doing About It BY SANDY INGRAM

ZiG will definitively gain in value — Reserve Bank of Zimbabwe, 15 APRIL

ZiG will definitively gain in value — Reserve Bank of Zimbabwe | The Sunday Mail (4/14/24)

ZIMBABWE marked an epochal moment in its history when it introduced a new currency, Zimbabwe Gold (ZiG), on April 5, taking a giant step towards bringing a lasting solution to exchange rate volatility, which, for nearly half a decade, has driven inflation and made saving in the domestic unit difficult.

This is the third time Zimbabwe has switched currencies since scrapping the domestic unit in 2009, amid the ravages of inflation in a country that had gone through fundamental changes in its agricultural land ownership, was buckling under the weight of sanctions and was closed to sources of cheaper external funding.

In the realm of international trade, the dominance of major global currencies such as the US dollar, the euro and the yen has been undisputed for many years.

However, there is a growing recognition of the benefits associated with conducting trade using local currencies.

By bypassing the need for constant conversion into a foreign currency, trade in local units offers numerous advantages. They include enhanced economic stability, reduced dependence on foreign exchange and increased autonomy for any country.

As inflation continued to wreak havoc on Zimbabwe’s currency, the annual rate climbed to 55,3 percent from 46,7 percent in February 2024, reflecting the pass-through effects on prices, which track the movement in the exchange rate.

In light of the high inflation challenges emanating from exchange rate volatility, many observers have wondered how just the change in the national currency could turn the situation around.

But Zimbabwe’s monetary authorities expect the new currency and policy measures they are rolling out to restore confidence in the local unit and go a long way in fostering simplicity, credibility, certainty and predictability in the country’s monetary and financial system.

New Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu last week shared his perspectives on how ZiG and the monetary policy intervention he announced just over a week ago in the 2024 Monetary Policy Statement (MPS) will transform Zimbabwe’s financial affairs.

The country’s new currency will operate alongside several foreign units in the multi-currency regime, legislated to run until 2030, including the US dollar, the pound sterling, the euro, the South Africa rand and Botswana pula.

ZiG shall, the RBZ said, at all times be anchored and fully backed by a composite basket of reserves comprising foreign currency and precious metals (mainly gold) received by the apex bank as part of in-kind royalties and kept in its vaults.

Foreign currency balances will accumulate through market purchases from the 25 percent export surrender requirements, as well as the sale of some precious metals received as royalties.

What has changed?

Responding to questions during an interview with Zimpapers Television Network (ZTN)’s “Beyond the Dollar”, Dr Mushayavanhu said the basket of precious commodities, mainly gold, plus the foreign exchange holdings the bank has, would change the game.

“We are bringing in a new concept in the form of a new currency, which is backed by reserves. RTGS, bond notes were not backed by reserves. This is why they were behaving the way they were behaving.

“So, we decided we have to bring in a new currency, which has a new basis for exchange rate determination and I did explain in the Monetary Policy Statement that the exchange rate for the ZiG is going to be determined by the basket of commodities that is anchoring it.

“Over and above that, it is also going to be determined by the market.

“We had a situation, as I said earlier, RTGS, bond notes were not backed by anything, so we cannot link ZiG to the old currency; it’s a different currency altogether,” he said.

Dr Mushayavanhu said while the bond notes were at some point backed by a US$200 million facility from Afreximbank, the amount of local currency in circulation was exceeded, exposing the local currency to forces of depreciation.

As part of RBZ’s commitment to transparency under his stewardship, Dr Mushayavanhu said the bank opened its vault for all to see that the institution indeed had the gold to back the domestic currency.
https://www.sundaymail.co.zw/zig-will-definitively-gain-in-value-rbz

"RV UPDATE" BY DEEPWOODZ & SAMSON, 15 APRIL

Deepwoodz

Sudani has a very long statement out today and there are no plans of America leaving... Furthermore, I have a feeling that although Sudani has the well being of his people in mind concerning the exchange rate, O’biden has his eyes on the dinar in our treasury. It’s a win win. No horse trading needed.

Samson

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