What Is The Global Currency Reset? -- American Contractor

What Is The Global Currency Reset?

Global Currency Reset – Are You Ready?

Article reposted from Global Currency Reset.

OK, so what is the GCR all about?

Before we get started, here is a quote from Winston Churchill:

“The farther back you can look, the farther forward you are likely to see.”
The reset HAS to happen, no doubt about it, but when and how is another story. All of the major currencies of the world will be revalued based on the assets of the country itself. This is supposed to be according to a source, the IMF should be charge, but since details are secret, we don’t really know. It’s important that we understand that the only way we are going to know is to check foreign exchange sites on a nearly daily basis. If not, the only way you might find out is word of mouth, “Hey, did you hear about the GCR?” Yeah, by then it will have been too late. A global currency reset will be on the front pages for days, but it’s effects will last indefinitely.

Banks might shut down, people might go hungry if they don’t have access to cash, it’s important that under these circumstances you fully comply with the local laws. If we have a global currency reset than you just might need to find a safe way out of the major cities, even if just for a week. A cabin in the woods is better than a large metropolitan area. When a global currency reset actually happens you might not be able to get out fast enough if you have to wait for the major cable news networks to tell you.

If you know which country is going to have the most assets you can make a lot of money. A lot of people think the U.S. will have its dollar devalued between 20 and 50% depending on who you talk to. Others claim that the Iraqi Dinar will be revalued from it’s current rate of 0.0086 to at least $1.18, a substantial increase. Bottom line, we just don’t know, it’s best to own a bit of Iraqi dinar, and maybe even Swiss Francs. Follow the money! Gold, silver, diamonds are money, dollars, yen, dinars, those are just currency, remember the hyperinflation in Germany in 1923? It could happen again in the United States. The global currency reset is coming, are you ready for the global currency reset?

Historical background on the Global Currency Reset

Looking back, the last Global Currency Reset happened between 1944 and 1945, towards the end of World War II.The powers that be decided that a new global world reserve currency was needed, so it became the US Dollar. Previously, the pound sterling (British Pound) was used starting about 1860 or so (the time of the United States Civil War) until around 1914 when the Federal Reserve, a private company, was born.Obviously Britain was devastated by World War II and they were no longer a superpower, so the dollar became the world reserve currency officially after World War II.

On August 15, 1971, President Richard Nixon made the following statement during a televised pre written speech:

In the past seven years, there has been an average of one international monetary crisis every year. Now who gains from these crises? Not the working man; not the investor; not the real producers of wealth. The gainers are the international money speculators. Because they thrive on crises, they help to create them.

In recent weeks, the speculators have been waging an all-out war on the American dollar. The strength of a nation’s currency is based on the strength of that nation’s economy – and the American economy is by far the strongest in the world. Accordingly, I have directed the Secretary of the Treasury to take the action necessary to defend the dollar against the speculators.

I have directed Secretary Connally to suspend temporarily the convertibility of the American dollar except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States.

Now, what is this action – which is very technical – what does it mean for you?
Let me lay to rest the bugaboo of what is called devaluation. (By the way, many countries will have their currencies devalued during this global currency reset).

If you want to buy a foreign car or take a trip abroad, market conditions may cause your dollar to buy slightly less. But if you are among the overwhelming majority of Americans who buy American-made products in America, your dollar will be worth just as much tomorrow as it is today.

The effect of this action, in other words, will be to stabilize the dollar.
Now, this action will not win us any friends among the international money traders. But our primary concern is with the American workers, and with fair competition around the world.

To our friends abroad, including the many responsible members of the international banking community who are dedicated to stability and the flow of trade, I give this assurance: The United States has always been, and will continue to be, a forward-looking and trustworthy trading partner. In full cooperation with the International Monetary Fund and those who trade with us, we will press for the necessary reforms to set up an urgently needed new international monetary system. Stability and equal treatment is in everybody’s best interest. I am determined that the American dollar must never again be a hostage in the hands of international speculators.

I am taking one further step to protect the dollar, to improve our balance of payments, and to increase jobs for Americans. As a temporary measure, I am today imposing an additional tax of 10 percent on goods imported into the United States. This is a better solution for international trade than direct controls on the amount of imports.

Notice the parts I bolded relating to a global currency reset:

“they help to create them.”

Obviously, if you want to make money, create a crisis, and create the solution.Think about the guy who broke windows in a neighborhood and then posed as the windshield repair man.That’s the idea.

“all-out war on the American dollar. The strength of a nation’s currency is based on the strength of that nation’s economy”

The coming Global Currency Reset (2014-2020) will be based, again, on the assets of the countries of the world.Example: Iraq has oil, South Africa has diamonds, China has gold, Vietnam has rice, the U.S. has, well, we have a lot of debt, so I guess we’re in trouble right?

“temporarily”

President Nixon essentially said that we would eventually go back to a gold standard, and that this measure where countries could exchange their dollars for gold was only temporarily.Well, it’s been over 42 years and it doesn’t look like we will go back to exchanging our dollars for gold.

“devaluation” again devaluation is related to the coming global currency reset
According to Lindsey Williams the dollar will be devalued about 30% in the next Global Currency Reset. That’s a lot! Imagine paying 30% more for items from China.Have you ever tried to quickly find ten distinct items in Walmart that are NOT made in China.Even the American flags are made in China! Devaluation is a big part of the Global Currency Reset.

“market conditions may cause your dollar to buy slightly less”

For some people reading this, you remember how much more your 1971 dollar went versus your 2014 dollar.Think about how far it goes now.Heck, even some like me who remember in high school when minimum wage was $5.15 and gas was only around $1 a gallon, yes you could get over 5 gallons per hour you worked. What do you get now that minimum wage is $7.80 (Arizona) and gas costs $3.39 (National average in Feb 2014?You get about 2.25 gallons per hour worked, less than half!I never hear this reported on the mainstream news, only how high the stock market is.By the way, were you able to buy more stuff for $15,000 in 2000 or in 2014?Exactly, so the stock market, since it’s measured in dollars, doesn’t mean anything, the stock market would have to be above 25,000 points to be even close to where it was in the late 1990′s.

Here is a gas chart, just look at what happens around 1971 when President Nixon gave this speech. By the way, I don’t think President Nixon knew that by taking us off the gold standard that we’d have a Global Currency Reset. What I mean is, since all currencies were tied to the US Dollar (backed by gold) they now had to be reset. Since all countries were tied to the US Dollar and gold, it was a global currency reset in that regard.

Historical gas prices 1929-2010

“fair competition around the world”
Fair?What’s fair about the fact that our biggest export is DEBT.I think that says enough, we owe so much to other countries and yet we can’t fund social security, the post office, or other programs like medicare.

In full cooperation with the International Monetary Fund

These are the people in charge.The I.M.F. as it’s abbreviated, just happened to be created around 1944-1945, it’s main purpose is to, according to their own website “foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”Are they doing a good job? The IMF is behind this coming Global Currency Reset.

“new international monetary system”

It’s a global or international monetary system, so every nation is involved, they have to be, how else can a country trade unless their currency is convertible? The point of a Global Currency Reset is to allow countries to trade among each other, but the U.S. Dollar was gold backed, after this speech, it was fiat, meaning it was only worth the paper it was printed on, nothing backed it, just government fiat, or decree.The difference between the financial changes in 1971 and what happened in 1944-1945 is that in 1944 we essentially said, “We will back our U.S. Dollar with gold, if you have dollars, we will give you gold, in 1971 we said, “We will not back our U.S. Dollar with gold, but trust us, we’re good for the money, oh yeah, you can’t get our gold. A global currency reset, would reset the price of gold as well.
In 1971, gold was $35 per ounce, after this speech by President Nixon the price floated, it got up over $800 in 1980, fell down to around $200 in the 1990′s, and again rose up to $1900 in 2011.

“an additional tax of 10 percent”

Ask anyone who was a teenager in 1971 how quickly prices went up from 1971 to 1980.As the U.S. began trading more and more internationally those 10% taxes took their toll.
That’s it for my analysis of President Nixon’s speech, now for some history. We will start with talking about the Global Currency Reset following our discussion gold standards. Before World War I, nearly all of the major currencies (dollar, pound, Swiss franc) were backed by gold. This was the so called “gold standard”. The amount of money in circulation was directly diet to the gold supply. With a Global Currency Reset, this will all happen again, gold backed money. Remember, gold holds it’s value, it’s been said that an old Roman gold coin of eight grams purchased a few hundred liters of crappy wine, well, in 2014 eight grams of gold is worth $341.08 as of February 2014.Nothing changed, your gold purchased the same stuff.You can bury gold for thousands of years and it’s worth the same, but you bury a dollar and thousands of years later it’s not going to buy you anything, unless some collector wants it. So what happened in August of 1971, a Global Currency Reset.

What follows below is the information I have found over the past few months:

Iraq and the Dinar

At the outset of the Iraqi invasion, the World Bank and United Nations devalued the dinar upon the petition of the US Attorney General. The Iraqi Dinar at that time was worth $3.22 USD. Today (November 25 2013) 1,000 dinars = 86 US cents or .86 USD. It’s been said this Global Currency Reset will bring the rate back to around $3.22 USD per 1 Iraqi Dinar.
Like many others I saw the potential for money to be made from the devaluation of the Iraqi dinar. This entailed investing in the foreign currency and waiting until it revalued. I then discovered that the Vietnam Dong had also been devalued during the Vietnam War, which was a long time ago. It never revalued. Yes, the Global Currency Reset has the potential to fix this issue with the Vietnamese Dong.

I considered the fact the same situation could repeat itself regarding the Iraqi Dinar. I decided to take the gamble and invested a small amount in both currencies. I was tempted at times to invest more but decided not to.

As time went by I discovered the devaluation of the Iraqi Dinar was planned by the Secretary of the Treasury and Vice President and had nothing to do with the invasion of Iraq. It was about the Military Industrial Complex making another killing on a foreign investment off the backs, lives and misfortune of the Iraqi people. A global currency reset would immediately put more purchasing power in the hands of the Iraqi people.

The average member of the world public was not even offered incentives to tell a friend. Not supposed to know about or be able to see through this plan. The Currency Exchanges were glad to have the business and Dinar gurus suddenly emerged on the scene, encouraging readers to invest and get rich overnight. Unknown at the time was the fact that most of these gurus were connected to or were themselves . The Global Currency Reset is kept quiet for a reason.

For years I had been telling family and friends that the United States government had become infiltrated by communists during the Wilson Administration and the entire federal system is a foreign corporate fascist group masquerading as the US government. Unsurprisingly, these statements of mine were regarded by family and friends as both unpatriotic and “conspiracy theory.” So I went in search of evidence and this is what I found.
What’s Behind The Global Currency Reset or International Currency Reset as it’s called?
The Global Currency Reset for the United States is within one penny of kicking in. When it does kick in any US citizen wishing to exchange foreign currency at a Federal Reserve Bank, currency broker or currency exchange must agree to sign a 9-page Non-Disclosure Agreement (NDA). The NDA is a contract you are required to sign with this fascist corporate government to not disclose where your new-found wealth originated. This appears harmless enough except for the fact that the NDA is a contract signed under duress. Why duress? You do not have a choice to accept or not accept this contract. The corporate government is hoping that greed will cause you to accept its NDA, no questions asked.

You might think to yourself “They can’t do that. It’s unconstitutional” True enough. However as a US citizen and defined by law as an entity – a corporation – your corporate person-hood has no rights except those granted to you by the government.

Some Background

The global currency reset has a way of changing our constitution. The US Government is a private foreign corporation. Its existence is hidden behind the very Constitution that you the right to contract with whomever you choose. The NDA is a contract. The US corporate government requirement that you sign an NDA takes your contractual obligation to a whole new level. How does it do so? If you violate any provision of this particular NDA you will be arrested as a domestic terrorist under the National Security Act. This, in turn, alters what was formerly a civil contract into one that incorporates grave and serious criminal penalties.
You might be wondering who in their right mind would agree to sign such a contract? During the global currency reset people will make bad decisions. Well it turns out if you refuse to sign the NDA you will be denied your opportunity to exchange currencies at preferred rates, and you have only 30 days from receipt of the NDA to decide whether you wish to sign on the dotted line.

What isn’t stated is the 30-day limit is far more important to them than it is for the investor holding the dinar. The banks and US corporate government have major foreign oil contracts to fulfill, contracts they can no longer fulfill with the USD. They need your dinar to purchase oil now that Europe and other major trading partners are refusing to accept the fiat-based, ponzi-style USD. With a Global Currency Reset, we can’t be sure who we can trust.

Currency Exchanges

During the global currency reset, you won’t have a lot of time to exchange your foreign currencies. A currency exchange is traditionally a barter (equivalent value changing hands between private parties) and thus it is a non-taxable matter. However, this NDA contract requires you to agree to pay a Capital Gains Tax that has yet to be established. I’m hearing 10% but what happens if it turns out to be 50%? The currency brokers and wealth managers associated with the Federal Reserve banking establishment are recommending that you set aside 50% of your assets to cover taxes. In a Global Currency Reset situation, you really can’t be sure how much you will have to give away, 50% is a safe margin, if it’s less, you are in good shape, if it’s more, well, I think that’s unlikely. Talk to your financial professional, but do not tell them about the Global Currency Reset, it will take too much time to explain it to them. Get your bank papers ready to go before the global currency reset.

What do they know that we don’t?

The same NDA contract also requires that you agree to comply with any and all current and future laws during the next ten years, enacted by the corporate United States Government. This makes the NDA a noose placed around the signatory’s neck, then gradually tightened. If you do get involved with the global currency reset, and you have dinar to exchange, you might have to sign an NDA.

If you exchange your currency at a Federal Reserve bank you will only be allowed to exchange the equivalent of $10,000 in cash. You will be required to open one of the following: Checking account, savings account, trust account or brokerage account. You will be forced to deposit the remainder of your assets into one of these accounts. However, during the global currency reset they might change the rules on deposits again.

The corporate US Congress modified the US Banking laws this year to specify that all accounts – deposits, trusts, IRAs and safe deposit boxes – belong to the Federal Reserve bank. This means that once you execute a deposit you surrender all ownership of that deposit to the bank.Should this foreign, privately-owned Federal Reserve system suddenly declare bankruptcy, all of your assets entrusted to them become their property. Within the fine print of all the banking accounts you own and/or open you will find the stipulation that the financial institution can use your assets to pay off the national debt, a debt that was never yours to begin with.
If you’re thinking the FDIC will reimburse you up to $250,000 on each account, think again. The FDIC filed bankruptcy in 2006 due to the swarm of bank failures that year, with claims against it in the trillions. The FDIC is done. Finished. It can never be revived without paying off those outstanding claims. I’m willing to bet your bank or wealth manager never informed you of that fact. With this Global Currency Reset, anything can happen.

Your Money Is No Longer Under Your Control

You don’t need to have a global currency reset to figure this one out. Here is another “catch 22.” You cannot gift or wire any amount greater than $4,999.99 to a family member or friend without the Department of Homeland Security reviewing the check or wire transfer to investigate the origin of the money. Since you signed the NDA contract you cannot talk about the source of your money with anybody, even DHS. All of a sudden you’re turned into a suspect involved in a potentially unlawful financial activity.Your gift will be confiscated unless you indicate Source Of Funds and if you do reveal the source you will have violated the NDA. This, in turn, can create the circumstance in which you are arrested as a domestic terrorist under the National Security Act. By the way, we could have a “bank holiday” right before, or immediately following the Global Currency Reset.
The financial oligarchs may not be playing with the full deck but the cards they’re holding of a certainty belong to a stacked deck.

The Game Is Rigged

Did you know that Americans are now prohibited from transferring any assets out of the corporate United States without clearance from the Department of Homeland Security?The reason for this crackdown has to do with the approximately four to 5,000 wealthy US Citizens who surrender their US Citizenship annually, transfer their assets and immigrate to another country. The government’s intent is to regulate the movement of money over national borders.

This is what is meant by the axiom “Finding yourself between a rock and a hard place.”
The Iraqi dinar currency exchange and its accompanying NDA is clearly a trap. After the global currency reset and NDA signing, you can’t talk about it, yes, this includes my site. The corporate US government is banking on the fact that you will agree to their terms in order to profit from your investment. However, if you make any financial moves in excess of $4,999 you will run afoul of DHS disclosure regulations. Given your signature on the NDA you won’t be able to disclose Source Of Funds and will likely end up in prison. How’s THAT for a rigged game? With a Global Currency Reset anything can happen: bank failures or bank holidays, seizure of private pensions and IRA’s/401k’s, point is, we have to be careful.

One Legal Maneuver Is Still Available To Those Who Can Afford It

The only legal alternative that comes to mind that you can use to counter this madness is to purchase your freedom via Diplomatic Immunity. This relieves you of the burden of having to sign the NDA contract. I am certain that Diplomatic Immunity is still available to all and is honored in 90 plus countries. You will need to make this move carefully, however, as it is quite expensive to set up a Legal Expense (numbered) account with your bank or broker. Again, please don’t mention the Global Currency Reset to your banker, broker, or anyone else you don’t fully trust.

Given the costs involved in setting up a Legal Expense account (~$800,000+ USD) this likely will not work for the small investor. However, the fact remains there is no need for anyone to rush in to exchange anything. This 30-day limit is simply another fraud. They, the US Military Complex, need your dinar within 30 days to pay their oil contracts. If anything, at the end of the 30 days, the exchange rate will likely go higher due to the lack of confidence in the USD abroad.

I have a feeling (one I admit may be just a pipe-dream) that all this corruption enslaving humanity for millenia will be coming to an abrupt end in the near future. Once that happens our liberty as a species will be restored.

The Background to the Global Currency Reset or Revaluation

The Global Currency Reset and the Revaluation are actually two different events. The Revaluation refers to the re-valuation of Iraq’s currency. The Global Currency Reset refers to a much broader re-valuation of many currencies around the world.

But in the public’s mind they’ve become linked together. I’ll be using the terms interchangeably here. Please be sure you understand what a revaluation is and what a Global Currency Reset is OK?

Let’s have a look at some of the background to the Revaluation to see what purposes it serves in the Divine Plan and how the Company of Heaven wishes us to look on it.

When Ashtar spoke of the Re-valuation of currencies, or Revaluation, in late August 2013, he suggested that it was one way to show that the events being spoken of were real. He didn’t mention the term Global Currency Reset, but we understood.

“If you look to the outside for tangible evidence for our messages – although we tirelessly stress that you should seek changes within yourselves in the first place – each and every one of you who follow our messages will see the first widespread, tangible proof by noticing the change in your financial affairs, especially with the revaluation of many currencies.
“We are certainly aware that many – if not all of you – have some doubts now and then whether all this is real. And we understand this because of the many changes in the Divine Plan experienced by you throughout your journey.” (1)

The Revaluation would show many doubters that things are actually occurring, he said.
“This is the reason why the revaluation of many currencies is of such importance. It will show you that everything is for real and not a dream.” (2)

Sheldan Nidle’s sources spoke next about the event, in early September 2013. They saw it as the clarion call that signaled the end of the cabal’s political and financial rule.
“Until recently the dark cabal’s power was all but omnipotent, but now the point has been reached where it can no longer deny you your sacred destiny! A great prosperity linked to a global revaluation of your various national currencies is ready to happen.

“This grand event is the clarion call which will expel the old governance from power and influence. It will liberate you from your many illegal debt obligations by instigating universal debt forgiveness and this includes your release from any incurred indebtedness to this old governance.

“You are about to inherit not only this divine gift of freedom but also a never-ending supply of prosperity.” (3)

He spoke again a week later about the “grand monetary reset of the world’s currencies” that was about to begin and linked it to “the worldwide distribution of our various prosperity funds.” These two actions would end the cabal’s grip on power.

“Taken together, these two actions will complete the legal operation to swiftly bring down the once-mighty clutch of your illegal governments which have so long browbeaten your world. This feat will result in the termination of global debt enslavement which underpinned your fiat-currency financial system.

“The new hard-currency, prosperity-based system will ensure your freedom and guarantee you your personal sovereignty. Now the bumpy road to full consciousness becomes a clear and open highway!” After a Global Currency Reset physical assets (gold, silver) will be more important than paper assets.

Another week later, he said that “the dark cabal’s debt-based economic system is truly ‘on the ropes’ and continues to induce a rate of debt formation that is quite astounding.”
“In effect, it has reached a point where the weight of debt is beginning to gouge into the infrastructure of the system, threatening to rip it asunder, and it has become clear that the dark can no longer hold the center together. It sees the moment approaching when a new system must take over and recognizes that this signals the end of its time at the top.”
He called the Reset “the ‘kick of the mule’ which is to jettison these haughty ones from power.”

At the same time that the cabal was falling, the mass of society was rising, his sources said.
“The dark cabal is losing its wealth while you are gaining yours. Divine purpose is in play. Hence, use these funds wisely and permit your brethren to enjoy the fruits of this new prosperity.

“Realize that a new reality is dawning and reflect on your new fortunes. Be ready, when required, to explain why new governance emerged.”

Most recently, Sheldan’s sources gave the following summary of the Revaluation, not the Global Currency Reset, on Feb. 18, 2014:

“A process will be set in motion to make it possible for a great prosperity to be redistributed to you. Our liaisons are working diligently to explore a most needed set of protocols that will swiftly lead to a Global Currency Reset.

“The currency reset (meaning Global Currency Reset) is a natural process to set up a certain level of agreed-upon value between the world’s nations. This is a basis for global trade, and in the end, the start of an operation that is scheduled to lead to a precious metal-backed monetary system. Included in this reset is the use of new banking regulations such as ‘Basel III.’

“This revised structure will expand the distribution of various prosperity packages. The intent is to reform the current system of ‘haves’ and ‘have-nots’ and replace it with a worldwide spread of prosperity. The old system of income taxation needs to be revamped. A debt jubilee will be declared and the old corrupt system put to rest.

“This new system will redo the globe’s infrastructures and establish a new foundation that takes advantage of now-suppressed technologies. This will later be added to by our off-world devices. Then your world can move out of its present technological dilemma and prepare for a new consciousness.”

Moreover, his sources say, the Revaluation, again, not Global Currency Reset, will provide the foundation for the release of the prosperity-program funds and trigger provisions of NESARA.

“The new currencies, the gold backing and new international banking rules will forge the foundation for the release of the two-step prosperity funds. These operations will enforce now-sequestered legislation to bring out the various provisions of ‘N.E.S.A.R.A.’ These rules will cause a domino-like effect to alter governance and return it to the people. In this milieu, governance will aid the Light and allow formal disclosure to occur. This new environment will also permit us to begin a series of worldwide lessons about your most dearly kept perceptions.”

Archangel Michael discussed the Revaluation, note that he didn’t mention Global Currency Reset, in late September 2013. For some people, he said, “I bring you back a year, and for others of you I bring you back a decade, and for some of you a decade and a half. Because many of you have been at this for a very long time.”

Was it a scam, he [was] asked? No, it was not.

“Is this a scam? It is a prayer, a promise, a trust and an act of change, not simply an act of faith, but an act, a pro-active movement, of change.”

Apparently according to AAM, “humans … love currency.”

“It is an idea. Currency has never been more than a concept and an idea. And it is an idea of abundance for many. Freedom, for food, clean water, housing, play, attending to your community. So you like currency.”

Therefore the Company of Heaven is using currency to transition us out of poverty into abundance and thence into co-creation.

“So why would we, when we have no need for currency, say, ‘Now, you have no need for currency’ when you love it? It is showing you, and it is transitioning you, into a place where currency becomes what it is — an idea.

“And the more you work with this creation of abundance, for many, for all, then the more it becomes your ability to simply create out of thin air. Because that is what you are really doing.

So the Revaluation is intended to be the first illustration that “everything is real and not a dream.” It’s the first stage of the financial reconstruction that we’ll notice and be impacted by. It’s meant to be part of a transition from currency to the more developed ways of seeing to our needs that will come with the shift to higher consciousness. And it’s the signal for other projects such as the prosperity programs and for many of the provisions of NESARA to begin. We need to talk about what a Global Currency Reset actually is.

Global Currency Reset – Overview

What is a “Global Currency Reset”? Let’s parse the term by first explaining that a currency reset is either a revaluation or devaluation of a nation’s currency within a fixed exchange rate system. If a nation revalues its currency, its central bank raises the value of the nation’s currency at a fixed peg with a reserve currency, such as the U.S. dollar. A devaluation would lower the value of the currency in relation to the reserve currency. The alternative — which most of the world’s developed economies use — is the free-floating currency, which means the currency’s value is independent of the values of other currencies. Hence, the value of a free-floating currency is determined by supply and demand.

Generally, a nation revalues its fixed exchange rate currency in response to positive economic growth and trade surpluses, as China did with the renminbi in 2005. If a nation runs trade deficits or suffers continuous capital outflows, they may find themselves obliged to devalue their currency. One way nations devalue free floating currencies is, intentionally or not, by inflation. Many economists assert that a fixed exchange rate muzzles inflation. However, the U.S. Federal Reserve has spent trillions buying securities through its Quantitative Easing program; officially, the federal government claims that the nation’s inflation rate has been around 2% annually. With all the new money introduced by the Fed over the past few years, the market dynamics of supply and demand dictate that high inflation or even hyperinflation is on the horizon for the U.S. dollar.

Thus, a “Global Currency Reset” (GCR) would be either a revaluation or devaluation of a reserve currency. It could even mean that the world moves away from the reserve currency altogether. The most apocalyptic scenario would involve a hundred countries or more simultaneously devaluing their currency – an event unprecedented in world history but one not beyond the realm of possibility. Why would this cataclysm occur? It would be a currency world war where scores of nations compete to lower their exchange rate to boost their exports and remedy trade deficits. And according to some economists, currency wars don’t contribute to economic depressions — they end them.

As the U.S. dollar has been the world’s reserve currency since World War II, a GCR would have a profound impact on the dollar’s role in international finance and trade. Perhaps most significantly, the U.S., which has borrowed exorbitantly since the time of the Vietnam War, would see its borrowing costs skyrocket. European economists have conceptualized the term “exorbitant privilege” for the advantage that the U.S. holds over other nations by benefit of being the world’s reserve currency. By serving as the world’s reserve currency, the U.S. would never face a currency crisis (i.e., a sudden currency devaluation). A GCR would remove America’s exorbitant privilege. BRIC nations are already in the process of moving away from the dollar. For example, China has established bilateral trade agreements with with Australia, Japan, Thailand, Russia and Vietnam that allows for direct currency trade instead of converting to the U.S. dollar.

What does this have to do with precious metals? A GCR, which is already beginning, will devalue the U.S. dollar, causing inflation to rise rapidly. If Americans (or anyone else) have their wealth stored in the dollar, a fiat currency, inflation will rob them of their affluence. What will serve as a reserve currency? Gold and other precious metals have traditionally been a steadfast haven for protecting wealth. When fiat currencies collapse beneath their worthless weight, intrinsic assets like gold and silver will remain as a benchmark for the world’s currencies. Just look at the amount of gold China, India and the other BRICs have purchased since the Great Recession and draw your own conclusions. We must have a Global Currency Reset very soon, as all fiat currencies are doomed. Precious metal sages are fond of saying: “Don’t wait to buy gold and silver. Buy gold and silver and wait.” That’s what the world’s richest individuals do. Now you understand the what you need to know about the Global Currency Reset.

Learn about the Global Currency Reset.

3-25-2014 Newshound Guru American Contractor [Does the Global Currency Reset have anything to do with the Iraq dinar?] In my opinion the GCR has nothing to do with the IQD it has more to do with the USD, that's the petro dollar around the world when we talk about the Global Currency Reset. [In the local Iraq media they mention delete the zeroes. What does delete the zeroes really mean?] That means that they are going to print new currency. Nobody knows when that is going to happen.

American Contractor is still around?  Hummm nobody knows when it's gong to happen. I think a couple of years ago I heard him say 2014 and he was being shot down. Now he doesn't know?

I think he should keep his day job, in contracting whatever he does.  

What was not mentioned is that this was when Nixon took the US off the Gold Standard. THAT is what the term convertibility actually referred to. From that date forward, you could no longer convert USD to gold.

VERY briefly, up until that point the US was committed by the Bretton Woods system to redeem all USD for gold at a fixed price of $35.00/oz. The other side of the agreement was that the other participants would peg their currency to the USD. However as circumstances changed, and foreign economies and currency supplies grew, countries withdrew from the agreement and allowed their currencies to float effectively taking them off the gold standard. This both made the USD less competitive, put a drain on our gold reserves, straining the US economy. So controversial as it may have been, this was essentially a matter of self preservation for the US.

I look at the facts and I do not see the collapse of what the progenitors of the theory call fiat currency anytime in the foreseeable future. Yea, some countries are buying gold, why not? Gold has been a good investment over time, and many think it will continue to be. I'm not so sure, it just looks too much like a bubble to me. Will we see shifts in the relative values over time? Absolutely, we see them all the time. Will we see massive shifts in the value of the USD? Considering that the US economy still accounts for almost 25% of the world wide economy, most likely not.

OH BTW, for the record, the USD was one of the last, if not the last major currency to move FROM the gold standard.

3-25-2014 Newshound Guru American Contractor [Will the Central Bank of Iraq issue just small denominations or will it be also larger denominations.] The CBI has mentioned printing a large dinar note like 50,000 or 100,000 note and they also mention coins also. So, nobody knows exactly what they are going to do. They say one thing and then they change their minds. It really doesn't make any sense. They could come out with a 50,000 & /or 100,000 notes along with lower denoms like we have here in the U.S.

What is the GCR?  A line of BS being fed to people about something that is not going to happen any time in our lifetimes.  The whole thing is just ludicrous and financially unworkable.  Not to mention the utter world financial chaos it would cause.  It is a myth, just like the so called asset backed UST currency that people are alleging will be replacing FRNs any day now.  There is no evidence that I can find that even implies such currency is coming out. or even planned.

3-26-2014 Newshound Guru American Contractor
 [When the new Iraqi dinar currency is issued do I have to exchange my Iraq dinar that I currently have?]

When the CBI is getting ready to issue the new currency there will be an educational campaign in Iraq and in the world, press releases, pamphlets, brochures. You will have a big window, a 2, 3, 4 year window to exchange...I don't think there will be a big rush like everyone thinks it will be.

No arguments there ... I hope ... TD has said otherwise, and unfortunately, his info has proven more accurate and hype free.