Saturday, August 17, 2024
NESARA in 2024: Understanding the Controversial Economic Reform Proposal BY DINAR REVALUATION, 17 AUGUST
NESARA in 2024: Understanding the Controversial Economic Reform Proposal
NESARA, or the National Economic Security and Recovery Act, is a set of proposed economic reforms for the United States that gained attention in the 1990s [1]. Initially suggested by private citizen Harvey Francis Barnard, the proposals included replacing the income tax with a national sales tax, abolishing compound interest on secured loans, and returning to a bimetallic currency [1]. Barnard claimed these reforms would result in 0% inflation and a more stable economy [1]. However, the NESARA proposals were never introduced before Congress [1].
Since the early 2000s, NESARA has evolved into a cult-like conspiracy theory promoted online by Internet personality Shaini Candace Goodwin, also known as "Dove of Oneness" [1]. Goodwin appropriated the NESARA notions without Barnard's consent and claimed that the act was secretly passed with additional provisions as the National Economic Security and Reformation Act and then suppressed by the George W. Bush administration and the Supreme Court [1]. Goodwin's conspiracy emails gained a large following online and were translated into several languages [1].
Adherents to the NESARA theory also began using the name GESARA, or Global Economic Security and Recovery Act [1], to extend the proposed NESARA reforms outside the U.S. and to the rest of the world [1].
Critical Components of NESARA and GESARA
The proposed reforms under NESARA and GESARA typically include: Resetting of gold standards Debt forgiveness for public and private debts Abolition of income tax and introduction of a new sales tax Increased transparency in banking and financial transactions [2]
Public Perception and Misinformation
Due to their secretive and speculative nature, much misinformation surrounds NESARA and GESARA [2]. These theories are often tied to utopian financial scenarios, contributing to their mystery and allure among followers [2].
Legal and Economic Implications
If such reforms were taken seriously, they would have profound legal and economic implications worldwide, disrupting international markets and legal systems [2].
Global Response and Regulatory Issues
The global adoption of such sweeping reforms would require unprecedented cooperation among governments, which is highly unlikely given the current international political climate [2].
Impact on Financial Markets
The supposed reforms could lead to significant upheavals in global financial markets, affecting currencies, stock markets, and international trade [2].
Influence on National Sovereignty
Implementing GESARA could infringe on national sovereignty, requiring nations to cede significant control over their economic policies [2].
Technological and Administrative Challenges
Implementing such extensive financial reforms would present significant technological and administrative challenges [2].
As of August 17, 2024, NESARA and GESARA remain speculative economic reform proposals without official status or recognition by any government [2].
LATEST FROM RV HIGHLIGHTS, 17 AUGUST
Fri. 16 Aug. 2024 RV Highlights
Nesara will be announced first. This way the PUBLIC (everyone) will receive financial relief from debts. The RV will also be released QUIETLY for T4b for us to revalue. Once 4b is done or nearly done, then the public will commence on their exchange. The purpose of the NDA is to keep T4b mouths shut (or their funds will be clawed back) regarding the amount of rates being paid out because the PUBLIC will NOT be receiving the same high rates. This is to keep the PUBLIC for being upset and causing backlash.
RV HIGHLIGHTS
Translated directly from the CBI document:
Licensed banks all approved
Electronic payment companies all approved exchange companies from categories A and B
Procedures for the work of agents of external transfer service providers
Greetings
Based on the supervisory and supervisory role of this bank. And in order to regulate the with procedures of agents providing foreign remittance services in light of the rapid developments of the financial coal transfer service and to limits to insure for speculation purposes and benefiting from the exchange rate difference. ..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/latest-from-rv-highlights-via-telegram.html
Understanding the Project to Delete Zeros from the Iraqi Dinar in 2024 BY DINAR REVALUATION, 17 AUGUST
Understanding the Project to Delete Zeros from the Iraqi Dinar in 2024
The Central Bank of Iraq (CBI) has been considering the deletion of three zeros from the Iraqi dinar since 2003, a project that has sparked significant public and professional debate. The goal of this initiative is to simplify financial transactions and boost confidence in the national currency, a move that has been observed in several countries around the world.
The Central Bank of Iraq's Perspective
According to the Governor of the Central Bank, Ali Al-Alaq, the project to delete zeros from the currency remains a priority. This policy involves replacing a one-thousand note, valued at 1,000 dinars, with a new note worth one dinar, effectively removing three zeros from the currency. The rationale behind this move is to simplify transactions and make financial amounts more digestible for individuals and companies, reducing the need to deal with large numbers.
Global Precedents and Examples
Iraq is not alone in resorting to the policy of deleting zeros from its currency. Since 1960, there have been 70 instances worldwide where countries have implemented similar measures. Notable examples include TĂźrkiye, which removed six zeros from its currency in 2005, Zimbabwe, which deleted twelve zeros in 2009, and Venezuela, which eliminated five zeros in 2018.
Potential Economic Implications
Although the actual value of money does not change post-zero deletion, the step contributes to streamlining buying and selling processes. For instance, instead of handling one million Iraqi dinars, individuals would deal with one thousand dinars. This simplification can also facilitate the issuance of small currencies like coins, enabling goods to be priced more affordably.
Economists' Divergent Views
Economists are divided on the potential impacts of the zero deletion project. Supporters argue that it could help decrease inflation and unemployment, while critics warn of potential economic shocks. Challenges include security concerns, an open market susceptible to foreign commodities, counterfeit money, and widespread corruption. Moreover, some suggest that removing zeros alone cannot effectively combat inflation and should be part of a broader set of economic reforms.
Lessons from Other Countries
Analysts recommend studying the experiences of countries like Turkey and Argentina, where zero deletion policies have had varying degrees of success. Turkey's experience is often cited as a successful case study of changing national currency policy, following substantial reformative policies and social changes.
Challenges and Considerations
Potential challenges include the costs of printing new currency, updating accounting systems, and training the public on how to use the new currency. Mismanagement of the deletion process could lead to economic disruptions and initial confusion among residents and consumers.
Preparation and Timing
The Iraqi economic environment is said to be ready for the project if the necessary will is present among decision-makers. Choosing the appropriate timing is crucial to ensure the project's success.
Central ank's Progress
In 2011, the Iraqi Central Bank announced that the project to remove three zeros from the dinar was nearing completion. This strategic plan aimed to reduce transaction costs and ease the burden of carrying large amounts of cash.
The project to delete zeros from the Iraqi dinar in 2024 is a complex endeavor with potential benefits and challenges. Its success will depend on careful planning, execution, and coordination with broader economic reforms.
SOURCES:
https://www.al-monitor.com/originals/2013/10/dinar-currency-iraq-plans.html
https://www.linkedin.com/pulse/deleting-3-zeros-from-iraqi-dinar-mohammed-al-kaisi/
THE PROJECT OF DELETE ZEROS OF THE IQD" BY DINAR REVALUATION, 17 AUGUST
As of 2024, the "Project Delete Zeros" initiative refers to a plan by the Central Bank of Iraq to remove zeros from the Iraqi dinar (IQD) currency. This type of project is typically undertaken to address issues related to hyperinflation and to simplify the currency system.
Key Points About "Project Delete Zeros":
Purpose: The primary goal of deleting zeros from the currency is to simplify transactions and accounting by redenominating the currency. This means removing a few zeros from banknotes to make the currency more manageable and to help stabilize the economy.
Implementation: This process involves issuing new currency notes that are worth less in nominal terms but have the same purchasing power. For example, if a note currently has 1,000 dinars, after the redenomination, it might be replaced with a 1-dinar note, assuming the value of the currency has been adjusted accordingly.
Timeline: The specific timeline for such projects can vary. While the Central Bank of Iraq might announce plans and timelines, it's important to follow updates from official sources for precise dates.
Impact on Citizens: For the public, this means exchanging old notes for new ones. The process is typically managed by banks and financial institutions to ensure a smooth transition.
Current Status: For the latest updates on the Project Delete Zeros, consult the Central Bank of Iraq's announcements or official statements. They will provide the most accurate and current information regarding the project’s status and its impact.
If you have specific questions or need detailed instructions about how to exchange your old currency or how the redenomination will affect you, it's best to reach out to local banks or financial authorities in Iraq for guidance.
LATEST FROM WOLVERINE, 17 AUGUST
Fri. 16 Aug. 2024 Wolverine
We have seen so many of our compatriots that did not make it and thankfully their family will cross the finish line for them. During this journey I never thought that I was going to be attacked viciously and even to this day the attacks are still continuing.
Don’t forget the Get Together in February 2025 here in Sydney as we are planning to have the biggest party that Sydney has ever held with all these patriots coming from so many countries. Remember that it’s going to be a gala night and so wear your best clothes everyone. I’ll let you all know the day and the address of the Get Together. Love you all. Your friend Wolverine.”
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