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  "Bank on this" by MenoReno - 5/17/18

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PostSubject: "Bank on this" by MenoReno - 5/17/18   Thu May 17, 2018 7:51 am

My attention was drawn to a post by certain parties claiming the Zim was not going to be allowed to exchange with European and American banks because these banks are so corrupt that they weren't worthy of being allowed to handle the currency.

While the argument may sound plausible, its doubtful that it is true.. In Reno, Wells Fargo is certainly one of the main buyers. I could speculate on other buyer banks, but I'm only aware of Wells Fargo, because that is who we deal with. HSBC will clearly be involved in Hong Kong Tier 3 redemptions as well as in Zurich and London, probably Bank of Canada in Calgary, and Wells Fargo in Atlanta.

Remember, the US is a prime mover in the GCR/RV, and you can be certain American banks will be involved in the Zim exchanges.

MenoReno

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PostSubject: Re: "Bank on this" by MenoReno - 5/17/18   Thu May 17, 2018 7:52 am

"Re: Bank on this" by (Anonymous)


The Zim is not currency thus it won't be allowed in the tier one banks. It is totally off ledger and will be handled by AIIB in China. I have been with WF x20 years in trust and don't trust their system at all. I also will be taking higher rates and have no intentions of paying fees to these banks.I don't belief this person knows anything about the historical bonds and the proper management.

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PostSubject: Re: "Bank on this" by MenoReno - 5/17/18   Fri May 18, 2018 7:24 am


"Response to Anonymous Re: Bank on this" by MenoReno



This poster seems to be 'hard of reading'. He/she is under the delusion fed him/her by the gurus that the Zim is a bond. It's not. It's currency. It was printed originally as currency, whether it was on bond paper or not. If it was a bond, it would be rated as such, it would have a term (like 10 years for a medium term note), and would offer a particular interest rate paid annually. Additionally, it would come with coupons for each year of its term that could be turned in each year.

So I ask this anonymous poster what is the term and rate of the so-called 'ZIM Bond'?

Also, I'd like to point out that I made no judgement on whether or not Wells Fargo was a good bank or not. I only stated that they are involved in the redemption process in Reno, counter to what another poster had written about European and American banks being excluded by Zim exchange. The thinking that only Chinese banks like HSBC will be allowed to exchange Zim would mean that the Chinese are running the GCR/RV, which, quite frankly, is preposterous. The US is still top dog when it comes to economic power and will not be dictated to by any other country. Those that think otherwise are chewing guru pablum.

MenoReno

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"To MenoReno - Zim is a Bond" by Oneisblessed



The Zim is a bond - it clearly says on the note "I promise to pay the bearer on demand" - this makes it a "bearer bond". It really has nothing to do with the paper it is printed on.

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"Bank on this" by MenoReno - 5/17/18
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