"Global trade is likely peaking now. According to a report by the St. Louis Federal Reserve Bank."
Many countries are beginning to manufacture products in their own country that used to be imported from others.
The last three Presidents have chosen not to make any changes to the judges that govern the World Trade Organization. This is being called an existential threat to the Global Economy.
For some time, the World Trade Organization has needed to change percentages in weight given to certain countries gaining momentum in trading relationships. Many of these changes are being refactored in at the present time and expected to formulate new ratios by the end of the year.
These new ratios being calculated doesn't keep us from a gradual incline in some of these currencies that are being placed on a More Level Playing Field with other countries until they reach an RV status.
Many of these changes needing to take effect will come about from new regulations, rather than, a rules-based decision that was made at Bretton Woods 2 in 1944.
This brings us up to where we are now, the regulation of our new digital economy will bring about the needed changes in trade relation weight ratios for our currencies around the world based on supply and demand going forward.
These new digital regulated (ie MICA) changes will form new price patterns on each country's currencies and reset our Global Mechanisms to meet the needs of countries choosing to use their local currencies and trade over the dollar going forward.
When the World Trade Organization completes it's new calculations to reform a new Global Trading Economy, Bretton Woods 3 will come into being.
There should be an announcement of this new agreement by Bretton Woods 3 that will lead us into much needed changes around the world.
NOW, do you see why I keep asking you to WATCH THE WATER.
Awake-in-3D: Zimbabwe’s New Gold Standard Currency and its Quest for Economic Stability
The New Gold Standard? Zimbabwe’s ZiG Currency and Its Quest for Economic Stability
On April 5, 2024 By Awake-In-3D
Gold-Backed and Geared Up: Is ZiG the Solution to Zimbabwe’s Monetary Meltdown? Here’s a factual deep-dive into this revolutionary currency launch.
Zimbabwe’s latest maneuver in its long-standing battle against economic instability is nothing short of revolutionary.
The introduction of the Zimbabwe Gold (ZiG), a new gold-backed currency, marks a bold stride toward economic stabilization and away from decades of monetary turmoil.
As someone deeply entrenched in the analysis of currency and economic trends, I can’t help but view this development through a lens of cautious optimism and perhaps a dash of skepticism.
Here’s my deep-dive into the what, why, and how of new ZiG.
The Reserve Bank of Zimbabwe (RBZ), under the guidance of incoming governor John Mushayavanhu, has rolled out ZiG in various denominations, from the 1 ZiG note to the lofty 200 ZiG note, even including fractional values like a half and a quarter ZiG.
This initiative isn’t just a change of currency; it’s a strategic overhaul aiming to peg the nation’s monetary value (purchasing power) to something as universally valued as gold, alongside foreign currencies and precious minerals.
The Zimbabwean economy has been on a roller coaster of crises for the last 25 years, with the RTGS (Real Time Gross Settlement) currency plummeting in value and inflation rates reaching alarming highs.
The introduction of ZiG is a bid to anchor the economy on the stable and universally recognized value of gold, ensuring that the currency has tangible backing beyond mere government promises.
But how does the RBZ plan to implement this ambitious project?
Zimbabweans are given a mere 21-day window to exchange their old, inflation-ravaged notes for new ZiG currency, a tight time frame that underscores the urgency of the transition.
Moreover, the multi-currency system remains, allowing the ZiG to coexist with the US dollar, which notably accounts for 85% of transactions in Zimbabwe. This inclusivity of foreign currencies alongside the ZiG suggests a much more pragmatic approach to stabilizing the economy while retaining flexibility in transactions.
The crux of the matter, however, lies in whether the ZiG can truly lift Zimbabwe from its monetary and economic abyss.
The promise is there: a currency backed by gold and precious minerals offers a buffer against the hyperinflation that has historically plagued Zimbabwean currency.
Yet, history whispers warnings of past attempts that faltered despite initial optimism. The bond note, introduced with similar hopes, crashed as the government resorted to printing money recklessly.
Despite these cautionary tales, the strategic underpinnings of the ZiG – particularly its backing by a “composite basket of reserves” and its structured implementation through banking systems – present a glimmer of hope
.
The insistence on a gold-backed currency, governed by tangible assets rather than the whims of printing presses, suggests a commitment to stability and value preservation.
The setting of the exchange rate for the Zimbabwe Gold (ZiG) currency at US$1 to 13.56 ZiG is a pivotal element in Zimbabwe’s latest attempt at economic reform.
It represents a calculated attempt to bridge the vast purchasing power differential between the beleaguered Zimbabwean dollar and the global benchmark of the US dollar, seeking to offer a semblance of stability and confidence in the new currency.
This strategic peg against the US dollar is intended to ground the ZiG’s value in the international currency market, providing a clear benchmark for both domestic and international stakeholders.
Moreover, by anchoring the ZiG to a defined US dollar rate, the Reserve Bank of Zimbabwe aims to mitigate the rampant inflation and value erosion that has plagued previous currencies, positioning the ZiG as a viable and stable monetary unit in the eyes of the world.
This exchange rate is not merely a financial metric; it’s a worldwide broadcast of Zimbabwe’s commitment to economic stability and a testament to the central bank’s strategic foresight in leveraging the intrinsic value of gold to back its currency.
However, skepticism remains warranted.
Zimbabweans’ trust in their central bank is tenuous, at best, following years of economic mismanagement. Moreover, the external challenges, such as the severe drought affecting the country’s maize production, complicate the ZiG’s potential success.
These factors, combined with the public’s subdued reaction to the ZiG’s launch, highlight the uphill battle facing Zimbabwe’s latest economic strategy.
While the ZiG represents a daring and potentially transformative step towards finally achieving economic stability, its success hinges on the government’s discipline, the central bank’s transparency, and the international community’s reception.
Will the ZiG finally lift Zimbabwe out of its economic quagmire?
Cougar: The region’s employees fear the “My Account” platform, which is affiliated with the parties in power
Individual from the Parliamentary Money Advisory group, Jamal Kujar, uncovered today, Saturday, that there are fears and questions among the district’s workers in regards to the confinement of their pay rates in the bookkeeping framework subsidiary with the gatherings in influence in the locale.
Cougar said in a unique proclamation to the “, that the “My Record” stage comprises of four banks, two of which are Kurdish, one Lebanese, and one Iraqi,” taking note of that “we don’t have the foggiest idea about the foundation of these banks or their proprietors.”
He added, “The choice of the Bureaucratic Court was clear with respect to the restriction of pay rates at the administrative banks addressed by the Rafidain and Rasheed Bank, and a limiting choice is restricting on the local government,” taking note of that “The Clergyman of Money sent a request to the Bureaucratic Court in regards to who are the banks alluded to in the court’s choice.” ” Everybody is sitting tight for a reaction.”
Koçer closed by saying: The Kurdish public fear the “My Record” stage, and they accept that the local government will deduct expenses and charges through the stage before the representative accepts his compensation, taking note of that the Kurdish worker, in a half year, just got one month.
It is important that the Bureaucratic Court chose to settle the pay rates of the district’s workers with administrative banks, to dispense their compensations, and the territorial government shunned sending representative information for a really long time, notwithstanding its refusal to send military information right up to the present day.
In 2001 they declare war with Iraq...There is a difference between ceasefire and the war is finished. For now it's ceasefire.
No one declared the end of the war in Iraq. You see the coalition forces still there. You see the army. Maybe not a lot but they're still there. For Iraq to be free everybody have to get out of there. Any decisions Iraq made, anything Iraq do or does the United States...have to say yes you can do it or not...The war didn't end. That's why you see Sudani coming out in the 15th of this month coming up to talk about the coalition to get out of Iraq.
Article quote: "The Iraqi government and the Central Bank are dissatisfied with the nature of the US treasury's dealings with Iraqi banks...There is an effort to lift the sanctions..."
They need to take off the sanctions of Iraq IQD.
A lot of good news come out yesterday and I'm very happy...You know what? I'm excited. I'm very excited what's happening.
Article: "Data from the Central Bank of iraq show a decrease in the amount of printed currency by 1.2 trillion dinars between the months of November and December 2023 while indicating this decrease in the amount of currency is the 3rd largest decrease recorded in 20 years... "
Very good news, IQD decreasing. Wow.
The RV will not happen if no one declares the end of the war...we still on war. In December 2021 they took troops out... but they never declared the end of the war...and they never took out the international coalition.
For everything to happen they have to declare the end of the war. The international coalition have to be out of there. The soldiers of United States have to be out of there. Of course they're going to bases in Iraq but they're going to keep friendly bases in Iraq...not for war...I don't think Biden is going to do it.