Latest topics
The Un-Bonding of Zimbabwe's Financial Confidence 11/14/16
2 posters
Page 1 of 1
The Un-Bonding of Zimbabwe's Financial Confidence 11/14/16
The Un-Bonding of Zimbabwe's Financial Confidence
3:00:00 PM
By Tinashe Nyamunda, Academic
Zimbabwe Independent News
November 14, 2016
Nyamunda is a post-doctoral fellow, University of the Free State, South Africa. He is co-editor with Richard Saunders, of Facets of Power. Politics, Profits and People in the Making of Zimbabwe’s Blood Diamonds.
A POLITICAL storm is brewing in Zimbabwe over the introduction of US$75 million worth of bond notes, initially scheduled for the end of October, which the Reserve Bank of Zimbabwe (RBZ) has since postponed to this month — or even December (as it is unsure of public response).
This is sparking protests from different political movements and pressure groups in Zimbabwe — such as the Pastor Evan Mawarire-led #ThisFlag and Prosper Mkwananzi’s #Tajamuka/Sesijikile. The government is also facing legal challenges from former vice-president and leader of the newly-formed Zimbabwe People First (ZimPF) party Joice Mujuru, prominent Harare businessmen Frederick Mtandah, and lawyer Fadzai Mahere. Many see the notes as unbacked bond paper with currency denominations printed on them. They believe their value will rapidly collapse. This is despite the US$200 million facility that the RBZ claims to have accessed from the African Export Import Bank (Afreximbank) to back the new bond notes and hold their value.
But, as economist John Robertson has argued, “money is all about trust”. Zimbabweans do not trust the bond notes after nightmares caused by the country’s hyperinflation in the mid to late 2000s before the introduction of the multi-currency regime. For that reason, their introduction is seen as an act of a desperate and predatory government seeking to return to worthless Zimbabwean dollars. Many believe that this will only result in ordinary people suffering, while providing new avenues of accumulation for the political elite.
Contentious History
The financial history of Zimbabwe, of which studies are only just emerging, has always been contentious. Following the colonisation of the country in 1890, the British South Africa Company arranged to have its own currency and state and public bank in 1899, but the imperial government refused to ratify their Bill. It was only in 1932 that a Coinage and Currency Act was accepted to allow fully sterling-backed local currency to be created and managed by a Currency Board (created in 1938).
Because of the full sterling cover, Southern Rhodesia’s (colonial Zimbabwe’s) currency was effectively British. However, it was designed to favour mainly white agrarian and, later, foreign manufacturing capital in an economic system that relegated Africans to providers of ultra-cheap labour.
Even then, the resident colonial government still demanded financial control. It was ultimately given assent to create a central bank for the Federation of Rhodesia and Nyasaland (1953-1963) and, in 1964, (Southern) Rhodesia created its own Reserve Bank. This became independent of London and was eventually inherited by the post-independence Zimbabwe government.
Rhodesia was expelled from Britain’s collapsing sterling area as a sanctions measure against Ian Smith’s Unilateral Declaration of Independence (UDI) on November 11 1965. This only provided what the colonial government had always wanted: freedom to steer its economic development through independent financial means that allowed it to sustain white political and economic dominance.
Although the Rhodesian state, through financial and economic measures administered mainly by its Reserve Bank and Ministerial Economic Development Committee, managed to resist British and international sanctions, its capacity to continue financing its rebellion was eventually so stretched that it led to the political compromise at Lancaster House, and the birth of Zimbabwe in 1980.
Reconfiguring the Financial System
The Zimbabwe government inherited a vibrant and diversified financial system which was designed to support white agrarian and foreign capital interests, while excluding Africans. It faced the task of redressing these inequities and reconfiguring the financial system to make it inclusive. Because change was deemed too radical to upset a delicate economy: the new government failed to restructure the economy beyond token measures, such as providing small and medium enterprise financial support through a perennially undercapitalised Small Enterprise Development Corporation, formed in 1983.
For peasant farmers, insufficient support was provided through some government programmes and a Land and Agricultural Bank. For over 10 years, the rhetoric of indigenisation was kept at bay as the government benefited from its reconciliation with former colonial capital, while appeasing the populace through unsustainable health and education subsidies. Along with reduced support of the productive sectors, this resulted in serious budget deficits and an imbalance in its international trade account.
The Economic Structural Adjustment Programme (Esap) of the early 1990s, with its emphasis on reducing the bloated civil service and privatisation of parastatals as the main condition of the International Monetary Fund (IMF) and World Bank loans, provided to offset these deficits, only opened up the economy to cheap foreign imports — triggering a rapid de-industrialisation, unemployment and inflation.
Declining economic conditions brought protests from civil society groups of peasants, African businesses, students and workers’ organisations, the newly-formed (in 1999) Movement for Democratic Change (MDC).
Thereafter, the increasingly desperate, corrupt and power-hungry Zanu PF began making a radical shift. Under the weight of its costly excursions into the Democratic Republic of the Congo, the government undermined the monetary system by printing money for unbudgeted war veteran gratuities as a way of buying their support as one of the most influential and vocal civil society group challenging Zanu PF’s legitimacy.
The government then embarked on a chaotic, fast-track land reform programme, which upset the very backbone of the country’s financial system, descending into an unprecedented financial and economic crisis.
Financial Crisis
The financial implosion resulting from Zimbabwe’s deepening political crisis brought the Reserve Bank of Zimbabwe back into the centre of political discourse by giving it quasi-fiscal responsibilities to resuscitate the economy, especially with the appointment of Gideon Gono as governor in 2003.
Gono embarked on disastrous policies, including placing mainly newly-formed indigenous banks and financial institutions under curatorship. He also put the money-printing press into overdrive to settle government debt, resulting in hyperinflation. Despite his unorthodox efforts to revalue the Zimbabwe dollar under various guises such as currency revaluations, introducing bearer and agro cheques between 2005 and 2008, and the Foreign Exchange Licenced Warehouse and Retail Shops system to contain the black market in the currency trade, the public rejected the Zimbabwe dollar in early 2009.
The deepening crisis in Zimbabwe manifested itself in many ways, including through financial implosion. The economic effects of Zimbabwe’s political challenges resulted in the country recording hyperinflation estimated at 89,7 sextillion percent when it was last recorded on November 14 2008 (among the worst in global history). Thereafter, the Zimbabwean market rejected Zim dollars, forcing the government to legalise a multi-currency system dominated by the US dollar, bringing an end to the hyperinflation, which had resulted in the shortage of goods in shops, dislocation of business, the erosion of people’s incomes and the loss of foreign and domestic investment.
The adoption of a multi-currency system, which coincided with the signing of the Global Political Agreement between the main contesting political parties (two MDC formations and Zanu PF) eliminated the inflation problem and even increased the public and economic confidence. These developments bond(ed) or reunited the nation to a degree as the parties worked for the country’s economic recovery, even as power struggles caused many disruptions.
A brief recovery saw employment prospects and real incomes increase, while business slowly improved, but a new problem emerged. The country could no longer print its own money and had to rely on foreign currencies acquired only through trade, and its negative balance of payment account injected deflationary and liquidity problems which were only offset by donor funds supporting the health and education sectors.
Liquidity Crunch
In 2013, Zanu PF won elections which were celebrated by African observers for being relatively free of political violence — although opposition parties and Western observers cited many irregularities which, in their view, made the exercise unfair.
But the results were upheld, heralding the return of a legitimately voted government. Normal administrative business could resume and donors could withdraw their funds to allow government to take over its full responsibilities. But this injected a severe liquidity crunch in an economy that produced well below what it consumed as imports.
The multi-currency basket had been funded by the foreign currency that people held onto during hyperinflation (and which they were not legally allowed to use); by expatriate banks using their nostro accounts to bring in US dollars; by South African rand flowing as a medium of trade among cross-border traders in Zimbabwe (until the rand was also rejected by the public when its value collapsed in 2015); by donor funding and, although remittances had declined after 2009, Zimbabweans in the diaspora who were adjusting to the effects of the global economic recession, but still supplied currency as remittances.
But production for exports remained far below the required revenue for imports and even those notes imported from the US haemorrhaged out as Zimbabwe became what former finance minister Tendai Biti has termed a “supermarket economy” of net consumers dominated by informal traders whose source of goods is foreign markets such as South Africa, Dubai and China. Meanwhile, with a return to supposedly legitimate governance, donor funding dried up.
Perhaps the biggest cause of the liquidity crunch was the lack of confidence in Zanu PF’s election victory that led to many investors disinvesting in Zimbabwe, while corrupt government officials worsened the situation through externalising their ill-gotten riches to offshore accounts. The threat by Indigenisation and Economic Empowerment minister Patrick Zhuwao (President Robert Mugabe’s nephew), later rescinded, to nationalise/indigenise all banking institutions also dampened confidence.
The Bond Notes
The effects of late or non-payment of civil service salaries and other obligations prompted the government to introduce bond notes as an interim solution. This was phased, starting with bond coins of denominations of one, five, 10 and 25 cents, released in January, and a 50-cent coin released in March 2016.
The public was sceptical, correctly predicting that it was a way to test the re-introduction of a local currency.
Although these coins have circulated with much ease alongside higher denominations of US dollars, introducing bond notes of equivalent denominations is likely to result in people hoarding their hard currency in liquid form. Many fear that government will go after people’s foreign currency savings held by banks.
Given that even the availability of the Afreximbank facility is being questioned and the suggestion that government is desperate to pay off debt and civil service salaries, many people believe that the printing press will again be abused, re-igniting the turmoil of 2008.
Even before the introduction of these notes, there have been many protests against the idea — intertwined with numerous others against the government, which has failed to provide the 2,2 million jobs it promised in its 2013 election manifesto and other policies through which Zanu PF was supposed to prompt economic recovery.
All US currency holders of the Zim should be very alarmed by this because their being falsely informed by an untold amount of nefarious currency websites, blogs and conference calls that they will be able to soon redeem their currency for unrealistic and unsubstantiated values, i.e.1 Zim = 44,800 USN, which has been stated on a website blog called Dinar Chronicles, that is fraudulently being reported and confirming that these are the newest sovereign rates as recent as late Sunday, November 13, 2016. Instead, like many readers of this blog currency holders are pretty much unaware that it's being operated by a Philippine based self-proclaimed and so-called currency guru and intel provider named Patrick DaCosta, because the real truth about the on-going national political scene is that it has been dominated by factional fights and succession politics while the economy continues to contract under the weight of a worsening liquidity squeeze, forcing the need for bond notes. If these notes are introduced, they are likely to galvanize opposition to the government.
I believe that's slander Mr./Ms. Tinashe Nyamunda. ~ Dinar Chronicles
If the opposition is to mobilize around this, it can be a powerful issue in the next election, especially if it triggers inflation and resuscitates the parallel black market for hard currency. Moreover, there is fear that the accompanying exchange controls which will allow a few access to nostro accounts and foreign currency will again provide an opportunity for the Zanu PF elite and their clients to accumulate, engendering even more bitterness from the public.
Inasmuch as the government has never really cared about the plight of its people and used various mechanisms to retain power despite their poor economic record, the introduction of bond notes will produce one of two scenarios: either further protests under severe government repression, or as a game changer in Zimbabwean politics.
However, if, by 2018, Mugabe is no longer in the picture, for whatever reason, the effects of bond notes will reset the game in unpredictable ways.
Even if the US$200 million offshore facility is regarded enough to back the bond notes (which many argue it will not be,) given the propensity by the government to settle debt by printing, the weakness in bond notes lies in the public’s perception of them. More than any technical mechanisms of managing currency, money is really about public confidence in it.
‘Not Real Money’
The people I have spoken to all argue that bond notes are “not real money”. They cannot be used in international trade and in a “supermarket” economy heavily reliant on imports; it is difficult to see how they will be kept at a par with the US dollar.
Social media has found numerous and inventive ways to explain this government desperation. Most argue that the government is trying to print currency denominations on bond paper, the value of which will not be worth the paper it is printed on. The running joke is that if the state can get away with printing bond paper as currency, they might as well draw pieces of roasted chicken on them and convince the public that it is actually edible.
This is only likely to cause indigestion in an already upset economy, triggering another financial crisis for the most vulnerable of society. The ultimate effect of bond notes in popular imagination is that they are likely to un(bond) the nation politically, economically and socially.
*****************
>>>TNTBS's YouTube Channel<<<
Ssmith- GURU HUNTER
- Posts : 20495
Join date : 2012-04-10
Re: The Un-Bonding of Zimbabwe's Financial Confidence 11/14/16
RESPONSE:
In regards to the slanderous remarks below:
"All US currency holders of the Zim should be very alarmed by this because their being falsely informed by an untold amount of nefarious currency websites, blogs and conference calls that they will be able to soon redeem their currency for unrealistic and unsubstantiated values, i.e.1 Zim = 44,800 USN, which has been stated on a website blog called Dinar Chronicles, that is fraudulently being reported and confirming that these are the newest sovereign rates as recent as late Sunday, November 13, 2016. Instead, like many readers of this blog currency holders are pretty much unaware that it's being operated by a Philippine based self-proclaimed and so-called currency guru and intel provider named Patrick DaCosta, because the real truth about the on-going national political scene is that it has been dominated by factional fights and succession politics while the economy continues to contract under the weight of a worsening liquidity squeeze, forcing the need for bond notes. If these notes are introduced, they are likely to galvanize opposition to the government"
The Un-Bonding of Zimbabwe's Financial Confidence
Patrick is my son. Yes he and I are both residing in the Philippines at the moment with our immediate families. He recently married a Filipino and had a baby and are now in the process of filing various necessary immigration paperwork to immigrate his family to Republic USA. I am a retired major USA airline pilot here with my young son Patrick, initially to help him with finances and young family. I am myself a Dinarian and that is how Patrick was introduced to Dinarland. He was a computer addict which led him to start his own website. I loaned him $40 to start it in fact. Lo and behold it became successful.
The above statement that Patrick is a currency guru is beyond false. Patrick posts what he is sent and what is copied and pasted from other sites as do other sites. Patrick doesn't have any currency of his own. He's relying on me in fact. Not that I mind cause there's plenty to go around I believe.
Also stated is, " i.e.1 Zim = 44,800 USN, which has been stated on a website blog called Dinar Chronicles, that is fraudulently being reported and confirming that these are the newest sovereign rates as recent as late Sunday, November 13, 2016."
Again like I stated Patrick posts what he's sent by Yosef and makes no claim as to the reality value of ZIM or any other currency. Reader discretion. IMHO it's real but there's no intent at fraud as stated. Also there's implications that Dinar Chronicles is the only website carrying these ZIM posts. Not true as you know.
In conclusion people, I am writing in defense of my son whom I raised with my Filipino wife of 24 years now. We only had one son. I retired when he was 6 so he barely had a formal education except for home schooling cause we traveled most of the year. Patrick was not exposed to the callousness of American society and is not the individual the above article is trying to portray him as. Patrick is pure in heart and innocent unlike most people in the world today that were exposed to all the worldly pleasures of sin and corruption.
I take the above article slandering my son personally. So, Tinashe Nyamunda, Academic Zimbabwe Independent News, you had better be careful what you say about my son. I don't know you nor you me and you certainly don't know my son. So before you made slanderous remarks in your article you should have had the decency to contact Dinar Chronicles to investigate your presumptions. But because you said what you've said with such malintent, your own credentials are questionable up to and including who you really work for.
We Dinarian's have a label for your kind. Cabal Agent.
In regards to the slanderous remarks below:
"All US currency holders of the Zim should be very alarmed by this because their being falsely informed by an untold amount of nefarious currency websites, blogs and conference calls that they will be able to soon redeem their currency for unrealistic and unsubstantiated values, i.e.1 Zim = 44,800 USN, which has been stated on a website blog called Dinar Chronicles, that is fraudulently being reported and confirming that these are the newest sovereign rates as recent as late Sunday, November 13, 2016. Instead, like many readers of this blog currency holders are pretty much unaware that it's being operated by a Philippine based self-proclaimed and so-called currency guru and intel provider named Patrick DaCosta, because the real truth about the on-going national political scene is that it has been dominated by factional fights and succession politics while the economy continues to contract under the weight of a worsening liquidity squeeze, forcing the need for bond notes. If these notes are introduced, they are likely to galvanize opposition to the government"
The Un-Bonding of Zimbabwe's Financial Confidence
Patrick is my son. Yes he and I are both residing in the Philippines at the moment with our immediate families. He recently married a Filipino and had a baby and are now in the process of filing various necessary immigration paperwork to immigrate his family to Republic USA. I am a retired major USA airline pilot here with my young son Patrick, initially to help him with finances and young family. I am myself a Dinarian and that is how Patrick was introduced to Dinarland. He was a computer addict which led him to start his own website. I loaned him $40 to start it in fact. Lo and behold it became successful.
The above statement that Patrick is a currency guru is beyond false. Patrick posts what he is sent and what is copied and pasted from other sites as do other sites. Patrick doesn't have any currency of his own. He's relying on me in fact. Not that I mind cause there's plenty to go around I believe.
Also stated is, " i.e.1 Zim = 44,800 USN, which has been stated on a website blog called Dinar Chronicles, that is fraudulently being reported and confirming that these are the newest sovereign rates as recent as late Sunday, November 13, 2016."
Again like I stated Patrick posts what he's sent by Yosef and makes no claim as to the reality value of ZIM or any other currency. Reader discretion. IMHO it's real but there's no intent at fraud as stated. Also there's implications that Dinar Chronicles is the only website carrying these ZIM posts. Not true as you know.
In conclusion people, I am writing in defense of my son whom I raised with my Filipino wife of 24 years now. We only had one son. I retired when he was 6 so he barely had a formal education except for home schooling cause we traveled most of the year. Patrick was not exposed to the callousness of American society and is not the individual the above article is trying to portray him as. Patrick is pure in heart and innocent unlike most people in the world today that were exposed to all the worldly pleasures of sin and corruption.
I take the above article slandering my son personally. So, Tinashe Nyamunda, Academic Zimbabwe Independent News, you had better be careful what you say about my son. I don't know you nor you me and you certainly don't know my son. So before you made slanderous remarks in your article you should have had the decency to contact Dinar Chronicles to investigate your presumptions. But because you said what you've said with such malintent, your own credentials are questionable up to and including who you really work for.
We Dinarian's have a label for your kind. Cabal Agent.
*****************
>>>TNTBS's YouTube Channel<<<
Ssmith- GURU HUNTER
- Posts : 20495
Join date : 2012-04-10
Re: The Un-Bonding of Zimbabwe's Financial Confidence 11/14/16
Anyone who knows Patrick knows that this poster OBVIOUSLY doesn't have a clue and is simply trying to rob all of YOU of your blessing and of the truth of who you are as a sovereign soul and unfortunately this slimy shit bag had to drag Patrick's name into it unwarranted and unfounded.
Don't fall for it, people.
We love Patrick and his wonderful family and won't stand for this blatant slander.
Own your POWER,
The Ice Cream Shoppe Boys
PS. Before any of you try to comment on my use of vulgarity, consider that I am speaking of a cabal agent. The same dark force that has enslaved YOU AND YOUR ENTIRE FAMILY LINEAGE from birth. So yes unapologetically I repeat "slimy shit bag."
*******************************************************8
BLESSINGS Mr. DaCosta & Patrick
I just wanted to take a moment to first say
CONGRATS for your new Bundle of Joy.
Enjoy that Baby as they grow so fast.
More importantly I want to express my gratitude for your Site. You have provided a wonderful avenue for the Community.
Yes, there is a mix of THE GOOD - THE BAD - & THE UGLY....but it has provided the opportunity for people to participate, to question, to learn and to be heard.
You have provided an invaluable service. You are a Grand Example of SERVICE TO OTHERS vs SERVICE TO SELF.
I wish you, your Families and the Community
all the many BLESSINGS OF HEAVEN.
NAMASTE
BODI
************************************************
Hi Patrick:
Please thank your father for writing Academic Zimbabwe Independent News. Both you and your father provide a lot of hope for people like me. Many times I have been very discouraged about whether or not the currency redemption is going to happen and many times you have posted info or sitreps that have restored my hope and kept me going. Thank you for your hard work and efforts in proving us all that read your site with the important info we need. Thank you for collecting everyone's emails in preparation for the one and only, long overdo, email that will bless all humanity. I patiently (and sometimes impatiently) sit by waiting for the long awaited TETELESTAI and/or 800 numbers to be emailed by you.
I myself am an America and currently reside in America. However I have spent a lot of time in many southeast Asian countries and I have many friends from the Philippines and friends currently living in the Philippines. I love to listen to them speak Tagalog even though I can't understand them. They are all wonderful people and I love to talk and associate with them. My heart goes out to the many Filipinos that have been through many difficult times because of the numerous Typhoons and resultant flooding that occurs quite frequently in the Philippines. They truly deserve to be beneficiaries of the RV/GCR and I hope their day of redemption is right around to corner.
Many thanks to you and your father for all you do in bringing us these much needed emails and sitrep posts on http://inteldinarchronicles.blogspot.com.
Sincerely,
Don Carlos
***********************************************************
I stand with you and Patrick. In the short time we have been in contact, I can vouch for Patrick, not only for being a genuinely kind and caring soul, but also that he is not an intel provider. He simply posts articles that are emailed to him.
If it feels bad in your gut, it's not from God.
"Listen to your Na'au."
God bless Patrick and family in the PI.
Bewdah
MuKrew
******************************************
For Zim Holders
"A Tisket, a tasket, ZIM is in the Basket." I don’t know what all this chit chat about the ZIM is, but, I can tell the Believers that by my FEELING system, as well as many other reasons, if you are holding ZIM you are golden. I am not going to go into lots of detail at this late hour, but I will mention a few points for your consideration. Frankly, all I have to accomplish is to give you enough confidence to hold on to your ZIM, and go exchange it. So here are a few points to consider.
#1) Fair or Not, Currencies are handled differently in country and out of country. As an example, in Iraq, people could get several US dollars per Dinar, but over here in the USA, we can get up to a hundred dollars or more. Remembering that this is the international exchange plus Humanitarian money given to Americans to accomplish things here and throughout the World. The short answer is that over here we get higher rates due to some negotiation between countries etc. Don't argue, just accept that is how it is for us.
Again, fair or not, I remember an article a year or so back where Zimbabwe was buying back their currency at the rate of $5 per $100T note, or it was $5 per closed bank account and some lesser amount for the currency. I don’t remember exactly. You can probably look it up in the archives. It was quite a field day for the naysayers who claimed that the Zim was not only worthless, but had passed the date of redemption. However, it turns out that was an In-country move to get those large bill off the street. Fair? Not from what we know now, but this is World politics and financial strategy. Who knows why it was done, but the take away is that there are two strategies In-country and out of the country. So that means that whatever you read about In-Country money issues, know that does not necessarily apply to us, outside the country.
#2) The next important point is that these special currency redemptions were meant for Governments and special war reparation deals between countries. We were not supposed to be in on this deal. But we are, and so since the law MUST apply to all as it applies to the few, we got in on the deal. That may be why the other governments collected the big notes off the street, so that when they raised the value, to pay the foreign governments, the local people wouldn't get paid like a government. But we are getting paid like "Sovereign" governments. Lucky us!
#3) The rate may well have been very low "Back in the day" when many of us got in on this, but the rates have been going up ever since. It seems that I remember some penalty to the Cabal for holding this up, that for every day they prevented this from going, the rate paid to us all would go up and up, making us richer and richer than they were. Also, as mentioned by Yosef, and recently verified by Veritas, the Assets were recalculated and found to be way more than was ever thought, raising the value even more. See link:
"Questions for 11/13/16" - Veritas Report - 11.14.16
In his post, he not only verifies that the ZIM is a bond of high value, but that he actually saw the valuation reports himself. It would be good to review his post at the link above. However for now, here is a few Quotes from it:
"NEXT, I SAW THE UNDERGROUND SURVEYS OF THE NEW ASSETS OF ZIMBABWE. IMPRESSIVE. THE SURVEYS WERE ABOUT TO CAUSE SOMETHING ELSE SIGNIFICANT. THEY TURNED UP THE SECOND LARGEST DIAMOND MINE IN THE WORLD. THIS PROPELLED ZIMBABWE THROUGH THE ROOF. AMAZINGLY, THERE IS A REASON BEHIND THE HIGH RATES THAT YOU SEE PROJECTED FOR THE ZIM."
"THESE NEW CURRENCY REVALUATIONS ARE ALL BASED ON REAL ASSET VALUATIONS. ADD THIS TO THE FACT THAT IT IS A NEGOTIABLE BOND VALUE AND YOU HAVE A WINNER. I THINK MOST PEOPLE JUST DON'T REALIZE WHAT HAS HAPPENED WITH THESE NATURAL ASSETS IN ZIMBABWE."
"THE ZIM IS NOW THE HEART OF THE ENTIRE GCR HUMANITARIAN MOVEMENT."
#4) While there is so much more I could mention to support the ZIM such as it will be the reserve currency of Africa, etc., I will add just this: Zorra of Hollow Earth and Fisher of the Real Truth Call, have both, independently said that the ZIM is in the Basket and will have NO zeros removed. Like Bruce, Yosef, Tank, and Veritas, they also contend that the Zim Will be of extremely high value. Clearly they have no alterior motives or anything to sell. As a bonus point, I will also add that they wouldn't have set up special ZIM exchange centers if it were not in the basket and worth a lot of money.
The Bottom Line
The bottom line is that I don’t know what all the fuss is about on the ZIM. I don’t care what is printed in articles, or what is posted on these blogs. The ZIM is HUGE, and the most valuable Financial Instrument/Bond on the Planet. Of course just before we exchange there will be nay-sayers who do have an agenda, that come forth and try to shake your confidence and faith. Ignore them, for they cannot stop you anymore. You have ZIM, and You are going to the Exchange it, and That's that!
As far as the super high rates, I think that they are based on some high valuation in the first place, plus a Humanitarian Gift for projects, as a penalty to the Cabal, and some trade results since it is a bond. Who knows what it will turn out to be for you individually, but whatever it turns out to be, it will be light years ahead of every other currency on the planet. So Relax, you already have it made. Don't let anyone shake your confidence now.
May You Get Everything You Want and Live The Life Of Your Dreams
Signed: One Who Believes
*******************************************
Don't fall for it, people.
We love Patrick and his wonderful family and won't stand for this blatant slander.
Own your POWER,
The Ice Cream Shoppe Boys
PS. Before any of you try to comment on my use of vulgarity, consider that I am speaking of a cabal agent. The same dark force that has enslaved YOU AND YOUR ENTIRE FAMILY LINEAGE from birth. So yes unapologetically I repeat "slimy shit bag."
*******************************************************8
BLESSINGS Mr. DaCosta & Patrick
I just wanted to take a moment to first say
CONGRATS for your new Bundle of Joy.
Enjoy that Baby as they grow so fast.
More importantly I want to express my gratitude for your Site. You have provided a wonderful avenue for the Community.
Yes, there is a mix of THE GOOD - THE BAD - & THE UGLY....but it has provided the opportunity for people to participate, to question, to learn and to be heard.
You have provided an invaluable service. You are a Grand Example of SERVICE TO OTHERS vs SERVICE TO SELF.
I wish you, your Families and the Community
all the many BLESSINGS OF HEAVEN.
NAMASTE
BODI
************************************************
Hi Patrick:
Please thank your father for writing Academic Zimbabwe Independent News. Both you and your father provide a lot of hope for people like me. Many times I have been very discouraged about whether or not the currency redemption is going to happen and many times you have posted info or sitreps that have restored my hope and kept me going. Thank you for your hard work and efforts in proving us all that read your site with the important info we need. Thank you for collecting everyone's emails in preparation for the one and only, long overdo, email that will bless all humanity. I patiently (and sometimes impatiently) sit by waiting for the long awaited TETELESTAI and/or 800 numbers to be emailed by you.
I myself am an America and currently reside in America. However I have spent a lot of time in many southeast Asian countries and I have many friends from the Philippines and friends currently living in the Philippines. I love to listen to them speak Tagalog even though I can't understand them. They are all wonderful people and I love to talk and associate with them. My heart goes out to the many Filipinos that have been through many difficult times because of the numerous Typhoons and resultant flooding that occurs quite frequently in the Philippines. They truly deserve to be beneficiaries of the RV/GCR and I hope their day of redemption is right around to corner.
Many thanks to you and your father for all you do in bringing us these much needed emails and sitrep posts on http://inteldinarchronicles.blogspot.com.
Sincerely,
Don Carlos
***********************************************************
I stand with you and Patrick. In the short time we have been in contact, I can vouch for Patrick, not only for being a genuinely kind and caring soul, but also that he is not an intel provider. He simply posts articles that are emailed to him.
If it feels bad in your gut, it's not from God.
"Listen to your Na'au."
God bless Patrick and family in the PI.
Bewdah
MuKrew
******************************************
For Zim Holders
"A Tisket, a tasket, ZIM is in the Basket." I don’t know what all this chit chat about the ZIM is, but, I can tell the Believers that by my FEELING system, as well as many other reasons, if you are holding ZIM you are golden. I am not going to go into lots of detail at this late hour, but I will mention a few points for your consideration. Frankly, all I have to accomplish is to give you enough confidence to hold on to your ZIM, and go exchange it. So here are a few points to consider.
#1) Fair or Not, Currencies are handled differently in country and out of country. As an example, in Iraq, people could get several US dollars per Dinar, but over here in the USA, we can get up to a hundred dollars or more. Remembering that this is the international exchange plus Humanitarian money given to Americans to accomplish things here and throughout the World. The short answer is that over here we get higher rates due to some negotiation between countries etc. Don't argue, just accept that is how it is for us.
Again, fair or not, I remember an article a year or so back where Zimbabwe was buying back their currency at the rate of $5 per $100T note, or it was $5 per closed bank account and some lesser amount for the currency. I don’t remember exactly. You can probably look it up in the archives. It was quite a field day for the naysayers who claimed that the Zim was not only worthless, but had passed the date of redemption. However, it turns out that was an In-country move to get those large bill off the street. Fair? Not from what we know now, but this is World politics and financial strategy. Who knows why it was done, but the take away is that there are two strategies In-country and out of the country. So that means that whatever you read about In-Country money issues, know that does not necessarily apply to us, outside the country.
#2) The next important point is that these special currency redemptions were meant for Governments and special war reparation deals between countries. We were not supposed to be in on this deal. But we are, and so since the law MUST apply to all as it applies to the few, we got in on the deal. That may be why the other governments collected the big notes off the street, so that when they raised the value, to pay the foreign governments, the local people wouldn't get paid like a government. But we are getting paid like "Sovereign" governments. Lucky us!
#3) The rate may well have been very low "Back in the day" when many of us got in on this, but the rates have been going up ever since. It seems that I remember some penalty to the Cabal for holding this up, that for every day they prevented this from going, the rate paid to us all would go up and up, making us richer and richer than they were. Also, as mentioned by Yosef, and recently verified by Veritas, the Assets were recalculated and found to be way more than was ever thought, raising the value even more. See link:
"Questions for 11/13/16" - Veritas Report - 11.14.16
In his post, he not only verifies that the ZIM is a bond of high value, but that he actually saw the valuation reports himself. It would be good to review his post at the link above. However for now, here is a few Quotes from it:
"NEXT, I SAW THE UNDERGROUND SURVEYS OF THE NEW ASSETS OF ZIMBABWE. IMPRESSIVE. THE SURVEYS WERE ABOUT TO CAUSE SOMETHING ELSE SIGNIFICANT. THEY TURNED UP THE SECOND LARGEST DIAMOND MINE IN THE WORLD. THIS PROPELLED ZIMBABWE THROUGH THE ROOF. AMAZINGLY, THERE IS A REASON BEHIND THE HIGH RATES THAT YOU SEE PROJECTED FOR THE ZIM."
"THESE NEW CURRENCY REVALUATIONS ARE ALL BASED ON REAL ASSET VALUATIONS. ADD THIS TO THE FACT THAT IT IS A NEGOTIABLE BOND VALUE AND YOU HAVE A WINNER. I THINK MOST PEOPLE JUST DON'T REALIZE WHAT HAS HAPPENED WITH THESE NATURAL ASSETS IN ZIMBABWE."
"THE ZIM IS NOW THE HEART OF THE ENTIRE GCR HUMANITARIAN MOVEMENT."
#4) While there is so much more I could mention to support the ZIM such as it will be the reserve currency of Africa, etc., I will add just this: Zorra of Hollow Earth and Fisher of the Real Truth Call, have both, independently said that the ZIM is in the Basket and will have NO zeros removed. Like Bruce, Yosef, Tank, and Veritas, they also contend that the Zim Will be of extremely high value. Clearly they have no alterior motives or anything to sell. As a bonus point, I will also add that they wouldn't have set up special ZIM exchange centers if it were not in the basket and worth a lot of money.
The Bottom Line
The bottom line is that I don’t know what all the fuss is about on the ZIM. I don’t care what is printed in articles, or what is posted on these blogs. The ZIM is HUGE, and the most valuable Financial Instrument/Bond on the Planet. Of course just before we exchange there will be nay-sayers who do have an agenda, that come forth and try to shake your confidence and faith. Ignore them, for they cannot stop you anymore. You have ZIM, and You are going to the Exchange it, and That's that!
As far as the super high rates, I think that they are based on some high valuation in the first place, plus a Humanitarian Gift for projects, as a penalty to the Cabal, and some trade results since it is a bond. Who knows what it will turn out to be for you individually, but whatever it turns out to be, it will be light years ahead of every other currency on the planet. So Relax, you already have it made. Don't let anyone shake your confidence now.
May You Get Everything You Want and Live The Life Of Your Dreams
Signed: One Who Believes
*******************************************
*****************
>>>TNTBS's YouTube Channel<<<
Ssmith- GURU HUNTER
- Posts : 20495
Join date : 2012-04-10
Re: The Un-Bonding of Zimbabwe's Financial Confidence 11/14/16
"The Sheriff has entered the Saloon. It's time to clean house. ~ Dinar Chronicles 4/2/16"
https://www.dinardaily.net/t58857-website-update-regarding-shoutbox-and-negative-guest-posts
*****************
>>>TNTBS's YouTube Channel<<<
RamblerNash- GURU HUNTER
- Posts : 24270
Join date : 2015-02-19
Re: The Un-Bonding of Zimbabwe's Financial Confidence 11/14/16
*****************
>>>TNTBS's YouTube Channel<<<
Ssmith- GURU HUNTER
- Posts : 20495
Join date : 2012-04-10
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Yesterday at 6:02 am by Ditartyn
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Mar 23, 2024 9:25 am by swizzlestick
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej
» Dinar Daily Facebook Page
Mon Jan 22, 2024 3:34 pm by Ponee
» The Fundamentals of Finance and Pimpy Live
Thu Jan 18, 2024 7:17 am by Dinarhater
» Why Won't the Iraqi Dinar Scam Die?
Wed Jan 17, 2024 5:19 pm by RamblerNash