Category: Exchange Rate

Nova, Frank26 and KTFA Members Sunday Night

KTFA:

NOVA » July 13th, 2014, 7:14 pm 

Good Evening,

Please See Below And Realize THIS IS THE CBI TALKING!!!!!!!!!!!!!!

Nova

CBI issues Visa cards    Sunday, 13 July 2014 23:59

Baghdad (AIN) –The Central Bank of Iraq announced adopting the electronic payments of funds (Visa Cards) to limit the phenomena of carrying and dealing with cash.
….

A statement by the CBI received by AIN cited “The CBI adopted the Visa card system to develop the financial and banking sector and to create an atmosphere of competition among the different banking and financial establishments in Iraq.”

The statement added “The new system will organize the work of the providers of the service and issuing licenses for them according to the law No. (4326) of 22 June 2014.”

http://www.alliraqnews.com/en/index.php/faq/55278

*******

Moneytalks1: its kinda obvious to me that some countries can use a visa with a low exchange rate…unless im missing something here…and that very well could be the case…
Blessings to you moneytalks…

********

NOVA » July 13th, 2014,  Good Evening Sir,  It Has Nothing To Do With A Value Against The Dollar.

It’s All About,  “Is The Currency International?”     Nova

********

Moneytalks1:  THanks Nova for making this point clear. Basically, international meaning Article 8 compliant and able to exchange or cash in our dinars-correct Nova?

********

Kelly123:  EXCITING!!! This is all meaningless without an international currency – bring it on!!! Why pass a lay in June, notify the public in July if you weren’t going to implement it??? IR is coming up!!!!

Thank you NOVA!!!!!!!

*******

Frank26:  And THEN ………. Camouflage these MR steps with Mosul ……. ISIS ….. Kurds not happy …… M and his antics ……. Scare Tactics ……Media lies….. The non-sitting of a Parliament ……. John’s 2 visits in the still of 2 nights…… Russia …. ect.
Because ……….. It worked !!!
KTFA,  Frank

********

moneytalks1 :Frank, This is a great find. The CBI has to have an int’al rate for Visa. Visa cannot use 1166 as an int’al rate.
The CBI must release the IR shortly.   Thanx.

*********

Frank26:  Ahhhhhh? ………. Hmmmmm?……. Ahhhhhhhh……… Yes !!!

Consider this ………. When The politicians say something ……… Usually it never happens.

Yet when The CBI say’s something ……….. The odds are in our favor.

We are in the middle of 2014 and I see so many MR Steps ……… It’s Wonderful.

TY Governor of The CBI ………. M. B. Turki.

KTFA,   Frank

********

Shade : This is the question I hope Frank and/or Nova will address.
Can these cards be implemented in country only at first using 1166, then, at a later date, open up the international features?

********

Frank26:  “IF”……… They are implemented at 1166 then they like SO MANY other things are at the starting gate of the IR.     Waiting.

NOTE: …………. This is VISA …….. They are not making THIS MOVE NOW so they can ……… SIT and WAIT.

This company …… This action BY THEM……… It’s Superior !!!

Pizza Hut can go in and afford to lose money while it waits for the IR ………. Oil Companies can also afford to go in now at 1166 because they are not losing so much.

BUT VISA and MASTER CARD………… Can not afford this move NOW and lose…….. Time with Money.

KTFA,   Frank

********

moneytalks1 :  HI Delta, Sorry to ask this question again but do you still think the CBI will pull the trigger this month?  Thanx again.

********

Delta:  YES, WITH THE CBI ANNOUNCEMENT TODAY ABOUT ISSUING VISA IS HUGE ONE. FOR CBI TO HAVE CONTRACT WITH VISA THEY MUST BE ABLE TO HAVE FREEDOM OF MOVEMENT OF CAPITAL !!

THAT MEANS ARTICLE 8 AND SINCE 1166 IS A PROGRAM RATE THEY HAVE TO COME OUT WITH TRUE RATE.   DELTA

********

Sager » July 13th, 2014, you took the words right out of my mouth with this post Delta.
South Korea may have a really low rate using visa, but the point of the VISA article is that Iraq MUST have an Internationally Tradable currency for this to happen, and 1166 is only a DE FACTO, ARTIFICIAL, PROGRAM RATE. This means that they must remove this 1166 program rate and replace it with a reality exchange rate that reflects the true wealth of the country.   Sager

********

Mile100:  YES!! nova this is very signifcant. A rate is needed badly from the CBI its time for them to show the world. Would Visa issue their cards to a country with a program rate or do they know they are about to change it to a nice international rate?

*******
Frank26:  Lava Flow.  Mona Lisa.

The MR of The IQD.

See how Peaceful it feels when You avoid the useless politicians and their drama ? Call it what You want KTFA Family ………. This is the ONLY thing to FOCUS on …… THE CBI !

Hey NOVA ………… Good find……. TY Sir…..

KTFA,   Frank

KTFA’s Backdoc: “Don’t Be Distracted By…..”

Post From KTFA by backdoc » July 13th, 2014, 12:12 am  •  [Post 85]

DON’T BE DISTRACTED BY THE EVENTS JUST ON THE DINAR STAGE !

WE ARE ALSO SEEING SIGNIFICANT REFORM TAKING PLACE SIMULTANEOUSLY ON THE DONG.

I DON’T THINK THIS IS JUST COINCIDENTAL. DOC

Dong posts biggest weekly advance since 2012 on dollar supply

Bloomberg    July 11, 2014 23:03

  Vietnam’s dong posted the biggest weekly advance in more than two years after foreign-exchange reserves rose to a record.
~~~

  There’s a good supply of foreign currency as exporters sell dollars to banks instead of hoarding cash, the Tuoi Tre newspaper reported today. Reserve holdings climbed to an unprecedented $35 billion at the end of June, the central bank said on July 9.

The dong rose 0.4 percent to 21,200 per dollar this week, the most since the five days ended Feb. 17, 2012, according to prices from banks compiled by Bloomberg. The currency was little changed today.

 The central bank kept its daily reference rate unchanged at 21,246, according to its website. The currency is allowed to trade as much as 1 percent on either side of the fixing.

“Evidently, the State Bank of Vietnam’s stern emphasis on monitoring the foreign currency loan situation, concurrently flexible in terms of credit growth, as well as the high forex reserves have had a positive impact on the exchange rate,” Saigon Securities analysts including Phuong Hoang and Hung Pham wrote in a report today.

The five-year government bond yield climbed one basis point today and dropped four basis points this week to 7.01 percent, according to a daily fixing from banks compiled by Bloomberg.

http://www.thanhniennews.com/business/dong-posts-biggest-weekly-advance-since-2012-on-dollar-supply-28438.html

Post From KTFA By backdoc » July 13th, 2014,

Vietnam central bank expects credit to double during rest of 2014

Thanh Nien News  July 10, 2014 18:00

Vietnam’s banking sector is struggling to meet its credit growth target of 12 percent this year. Photo credit: Vietnam News Agency

Lending by Vietnam banks will rise more than 10 percent this year as credit growth typically quickens in the second half, the central bank governor said.

Nguyen Van Binh, Governor of the State Bank of Vietnam, said though credit was up only 3.52 percent in the first half, the hike in the rest of this year would double that figure in line with market rules.

“Hence, lending in the second half will increase around 7 percent, sending the entire year’s credit growth to reach more than 10 percent,” new website Vietnam Plus quoted Binh as telling a meeting in Hanoi on July 9.

Binh also said the central bank would manage lending policies “more flexibly” to accelerate the credit expansion.

Earlier this month Nguyen Thi Hong, Director of the central bank’s Monetary Policy Department, said in a statement that the central bank loosened restrictions on dollar loans to boost overall credit growth.

Dollar credit expanded 12.03 percent in the first six months of this year while dong loans were up only 2.17 percent.

Vietnam’s banking sector is struggling to meet its credit growth target of 12 percent this year as many companies turn down bank loans to bolster production (given high inventories) and many others remain ineligible for loans due to their weak financial capacity.

The central bank governor said bad debt resolutions and support for businesses seeking customers would help improve credit growth.
The Vietnam Asset Management Company, a firm set up by the central bank in July last year to rescue debt-laden lenders, bought more than VND50 trillion (US$2.36 billion) of non-performing loans, according to Binh.

Binh also said foreign currency reserves remained unchanged at $35 billion.

http://www.thanhniennews.com/business/vietnam-central-bank-expects-credit-to-double-during-rest-of-2014-28417.html

The Dong’s Revaluation Is Imminent By JC Collins

Economics:   The Dongs Revaluation Is Imminent

 July 13, 2014   By JC Collins

The currency of Vietnam is called the dong and has been pegged to the US dollar for a very long time.  The dong has been devalued consistently over the last 4 decades to facilitate the exportation of dollar inflation.  Within the country the dollar is predominately used and loans by local financial institutions are predominately denominated in dollars.  But all of this is about to change.

The Vietnam Business Forum has been working on methods of stabilizing the Vietnamese dong and its Macroeconomic Policy Working Group (MAG) has just released its recommendations and they are dramatic to say the least.

Picture

As reported by Vietnamese Dong News, the following quotes are taken from the substance of the MAG report.

“Yuan, the currency of China, the second largest economy in the world, and Vietnam’s biggest trade partner, has never gotten a foothold on the foreign exchange market in Vietnam.”

The implication from the report is why would Vietnam continue to use and peg the dong to the US dollar, who it does only marginal trade with, when in reality China is Vietnam’s largest trading partner.

“Experts: heavy dependence on US dollar not good for Vietnam.”

Extremely self-explanatory.

“The report released by MAG last week pointed out that Vietnam’s dollar-pegged foreign exchange policy has had a negative impact on its trade balance.”

This is obvious and timely.  We covered the reasons for this in the post “Why the Vietnamese Dong will Reset”.

“In terms of Vietnam’s sovereign debts, its biggest creditors in 2012 included Japan (34.5 percent of Vietnam’s total foreign debts), the World Bank (28.8 percent), and ADB (15.5 percent). As such, Vietnam’s foreign debts have been valuated not only in the US dollar, but also in other hard foreign currencies, including JPY, SDR and EUR.”

Of course the SDR is the mechanism by which most sovereign debts will be restructured.  Debt will be consolidated and packaged as SDR bonds.

“MAG’s experts commented that it is unreasonable for Vietnam to follow a dollar-pegged foreign exchange policy, while its trade and foreign debts depend on other foreign currencies.”

With China being Vietnam’s largest trading partner we can assume which currency is being referred to here.

“Therefore, Vietnam has been recommended to apply a new foreign exchange policy which allows it to valuate the Vietnam dong in correlation with more than one foreign currency. This will be a reasonable choice which helps both stabilize the exchange rates and ensure the flexibility of the nation’s policies.”

The operative phrase in the quote is “a new foreign exchange policy”.  As stated, it is likely that the dong will be pegged to a basket of currencies.  Which baskets now exist outside of the Euro and the SDR?  None. 

But with the announcement of the BRICS Currency Market Stabilization Fund this week and its $100 Billion injection from the BRICS countries, it is possible and probable that the BRICS currencies will form a stabilization basket from which other currencies, like the ones belonging to the Next Eleven countries, of which Vietnam is a member, can peg too and stabilize.

“Now is the right time for Vietnam to follow the new policy, as it now has all the necessary conditions to do this. Vietnam has wide economic openness, but it <does | should>not depend on any one trade partner.”

The right time is strongly implying imminence.  The BRICS Development Bank and the currency market stabilization fund are vital components of the policy being described by MAG.

“Therefore, if it were to apply the policy, Vietnam would be safe from the shocks in other foreign currency markets, if and when they occur.”

This statement is suggesting sudden and dramatic adjustments to the foreign currency markets, which is likely focused on the US dollar and the coming changes to its status as the world’s primary reserve currency.

At this point I would recommend readers to revisit the following posts:

Why the Vietnamese Dong will Reset

Vietnam Seeks Dong Stability as Dollar Nears Collapse

The American Dollar is Dumping Vietnam

A Global Currency Reset

The New Exchange Rate System

And the whole SDR’s and the New Bretton Woods series, especially Part Three, sub-titled The Real Global Currency Reset.

It is almost surreal that what we have been describing from the beginning is now taking place.  The world is on the verge of huge and dramatic changes.

The BRICS currency basket will eventually be integrated into the larger macro SDR basket, most likely at the end of the year when the 2010 Code of Reforms are finally passed and the Executive Board of the International Monetary Fund is restructured. 

This fits perfectly with what we have described as the local currencies of countries consolidate into regional currency groups which will then make up the SDR supra-sovereign basket.  See the post “The Arcane SDR Supra-Macro Asset”.

The US dollar continues to be isolated around the world and the critical stage of actualization for major adjustments to the currency markets has arrived.

And for those who continue to propose that the BRICS Development Bank will compete directly with the World Bank and IMF, you will be severely disappointed when these organizations begin to announce macro financial agreements.  I’ve already discussed how the World Bank has expressed its full support for the BRICS Development Bank in the post The Emerging Multilateral.

The World Bank is also openly supporting Vietnam’s policy group and mandates, as described here.  Be sure to read the full article as the World Bank describes how China’s oil rig being placed in Vietnam’s Economic Zone has had no negative effects.

Additionally, the World Bank’s President will be visiting Vietnam on July 16th and 17th to strengthen the partnership.  These are the same dates as the BRICS summit from which the official announcements of the New Development Bank and Currency Stabilization Fund will be made.

And as we’ve explained already, the World Bank has offered its full support for the BRICS Bank.  This is not a coincidence and is making it increasingly challenging for those who attempt to convince us that their are two opposing sides to the economic reset taking place.

Its obvious that the Vietnamese dong is about to be revalued but how that revaluation will look on the other side is not clearly determined.  Those who have dreams of getting rich from the dong reset may in fact see some sort of upside but it is just as likely that capital flow restrictions could very well hamper some of this.

Much is known, as can be attested from the above information, but there still remains large components of this financial reset which have been well hidden. 
But let us not forget those around the world who have suffered tremendously under the past imbalances, none more so than the Vietnamese people themselves, who have shown strength and perseverance through decades of war and economic sanctions. 

The fact that they have modernized faster than any other country in the world is a testament to the power of the human heart and mind.  – JC

http://philosophyofmetrics.com/2014/07/13/the-dongs-revaluation-is-imminent/

The NExt Eleven By JC Collins

Economics

The Next Eleven   By JC Collins

July 12, 2014

  The expectations of the BRICS Development Bank being in direct competition with the World Bank is the largest argument made to support the case of the overthrow of the banking cabal and the implementation of a multipolar world leading to chaos and a huge surge in the price of gold and silver.

It has been my contention all along that the division between east and west has been illusionary and that all countries and financial institutions are reading from the same script as written by the Bank for International Settlements.

The BIS is the centralized organization which sets and enforces all central banks policies for all central banks in the world.  The governor for the People’s Bank of China is on the executive board of the BIS and has openly called for the implementation of a multilateral financial system structured around a supra-sovereign SDR.
~~~

Picture

Make no mistake about it, this is what will happen.  Which is why the World Bank has offered its full support to the BRICS Development Bank and Russian Finance Minister Anton Siluanov referred to the BRICS Bank as a “mini-IMF”.

  The structure of the multilateral system is becoming more visible and is starting to look exactly like what has been described in the SDR’s and the New Bretton Woods series.

  Economic zones will be determined and new alliances with currencies regrouping into regional currency baskets with the supra-sovereign SDR acting as the macro of the currency baskets.

And with all eyes now focused on the BRICS and its official announcement of the Development Bank and currency stabilization fund, it is time to introduce another economic partnership which hasn’t yet been widely discussed.

This partnership is called the Next Eleven, or N11.

N11 is considered to be the next BRICS and include the following countries:

Bangladesh , Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea and Vietnam.

Within the micro N11 there is another partnership called MIKT.  This macro partnership to the micro N11 consists of the following countries:

Mexico, Indonesia, South Korea and Turkey.

Together the MIKT countries make up 73% of the total GDP of the N11.

Most readers will quickly recognize that all the countries, including BRICS and N11 are all countries which are moving aggressively or subtly away from the US dollar.  And yet, all the countries have central banks which are controlled by the Bank for International Settlements and are being supported by the so-called western financial institutions such as the World Bank and the International Monetary Fund.

The French bank BNP Paribas Corporate and Investment Bank along with BNP Paribas Asset Management have created an equities firm called EasyETF BNP Paribas.  Easy ETF’s main purpose is to provide equity access to the markets of the N11 countries.

  Of course BNP Paribas is the bank which America has attempted to charge with an absurd fine for doing business with Russia.  As I’ve stated before these are only skirmishes along the road to the ultimate outcome of the multilateral system and SDR supra-sovereign currency.

Both groups of BRICS and N11 share the same purpose of balancing wealth around the world to ensure a true multilateral system is achieved.  No new multilateral financial system can be effectively implemented if the majority of the wealth stays in the western world. 

The wealth most be balanced and shared but the people of the western world cannot awaken to the reality that the wealth they obtained on the backs of the undeveloped world will be willingly given back to the developing world.  It must appear like the shift and transition happened as a natural flow of events and modernization.

The countries which make up the “opposing” organizations, BRICS and N11, were chosen for their macroeconomic stability, political maturity and openness with the rest of the world and each other.

America and its dollar funded war machine was used to establish central banks in all the countries of the world and now that that job has been completed America has become the problem and will be integrated into the larger socioeconomic world.

The fundamentals of base economics and the trending of financial data is no longer functioning on any level that is understood by analysis.  But the world economy is not a ship lost as sea either.  The chaos is orchestrated with masterful strokes and planning.
  The BRICS Summit next week will offer some fantastic drama and ultimately the official announcement of the development bank and currency market stability fund.

 The currencies of all countries, including the Next Eleven, will benefit greatly from this stability fund and theNew Exchange Rate System will begin to take shape.  – JC

http://philosophyofmetrics.com/2014/07/12/the-next-eleven/

Exchange Rates Outlook – Pound Softer, Canadian Dollar Declines, US Dollar …

Exchange Rates Outlook – Pound Softer, Canadian Dollar Declines, US Dollar …

Exchange Rates UK – Jul 12, 2014

Exchange Rates Outlook – Pound Softer, Canadian Dollar Declines, US Dollar Posts 0.7% Drop. Aussie Stronger – Sterling (GBP) prepared to close out the week in a softer position against foreign exchange rates like the US Dollar (USD) and Euro (EUR) as a …

Dollar to Pound (USD/GBP) Exchange Rate Likely to Remain Bearish After a … – Currency News

Exogen: Iraq Has a Live International Exchange Rate Right Now-Today-Part 1 & 2

IRAQ HAS A LIVE INTERNATIONAL EXCHANGE RATE RIGHT NOW TODAY (PART 1)

Posted by EXOGEN on July 11, 2014 at 4:50pm

NOTE: THIS IS HOW THEY HAVE PAID FOR ALL THE CARGO SHIPS FILLED WITH CONTAINERS COMING IN GLOBALLY THAT ARE UNLOADING WITH PRODUCTS RIGHT NOW TODAY AND BEING DELIVERED TO ALL PROVINCES IN IRAQ………………

Forward rate agreement  From Wikipedia, the free encyclopedia

In finance, a forward rate agreement (FRA) is a forward contract, an over-the-counter contract between parties that determines the rate of interest, or the currency exchange rate, to be paid or received on an obligation beginning at a future start date.
….
The contract will determine the rates to be used along with the termination date and notional value.[1]On this type of agreement, it is only the differential that is paid on the notional amount of the contract. It is paid on the effective date. The reference rate is fixed one or two days before the effective date, dependent on the market convention for the particular currency. FRAs are over-the counter derivatives. FRAs are very similar to swaps except that in a FRA a payment is only made once at maturity. Instruments such as interest rate swap could be viewed as a chain of FRAs.

Many banks and large corporations will use FRAs to hedge future interest or exchange rate exposure. The buyer hedges against the risk of rising interest rates, while the seller hedges against the risk of falling interest rates. Other parties that use Forward Rate Agreements are speculators purely looking to make bets on future directional changes in interest rates.[citation needed] The development swaps in the 1980s provided organisations with an alternative to FRAs for hedging and speculating.

In other words, a forward rate agreement (FRA) is a tailor-made, over-the-counter financial futures contract on short-term deposits. A FRA transaction is a contract between two parties to exchange payments on a deposit, called the Notional amount, to be determined on the basis of a short-term interest rate, referred to as the Reference rate, over a predetermined time period at a future date. FRA transactions are entered as a hedge against interest rate changes. The buyer of the contract locks in the interest rate in an effort to protect against an interest rate increase, while the seller protects against a possible interest rate decline. At maturity, no funds exchange hands; rather, the difference between the contracted interest rate and the market rate is exchanged. The buyer of the contract is paid if the reference rate is above the contracted rate, and the buyer pays to the seller if the reference rate is below the contracted rate. A company that seeks to hedge against a possible increase in interest rates would purchase FRAs, whereas a company that seeks an interest hedge against a possible decline of the rates would sell FRAs.

Contents

1 Payoff formula

2 FRAs Notation

3 References

4 See also

Payoff formula

The netted payment made at the effective date is as follows

The Fixed Rate is the rate at which the contract is agreed.

The Reference Rate is typically Euribor or LIBOR.

 is the day count fraction, i.e. the portion of a year over which the rates are calculated, using the day count convention used in the money markets in the underlying currency. For EUR and USD this is generally the number of days divided by 360, for GBP it is the number of days divided by 365 days.

The Fixed Rate and Reference Rate are rates that should accrue over a period starting on the effective date, and then paid at the end of the period (termination date). However, as the payment is already known at the beginning of the period, it is also paid at the beginning. This is why the discount factor is used in the denominator.

FRAs Notation

FRA Descriptive Notation and Interpretation

Notation

Effective Date from now

Termination Date from now

Underlying Rate

1 x 4

1 month

4 months

4-1 = 3 months LIBOR

1 x 7

1 month

7 months

7-1 = 6 months LIBOR

3 x 6

3 months

6 months

6-3 = 3 months LIBOR

3 x 9

3 months

9 months

9-3 = 6 months LIBOR

6 x 12

6 months

12 months

12-6 = 6 months LIBOR

12 x 18

12 months

18 months

18-12 = 6 months LIBOR

How to interpret a quote for FRA?

[US$ 3x9 - 3.25/3.50%p.a ] – means deposit interest starting 3 months from now for 6 month is 3.25% and borrowing interest rate starting 3 months from now for 6 month is 3.50% (see also bid–offer spread). Entering a “payer FRA” means paying the fixed rate (3.50% p.a.) and receiving a floating 6-month rate, while entering a “receiver FRA” means paying the same floating rate and receiving a fixed rate (3.25% p.a.).

Reference

Jump up^ http://www.investopedia.com/terms/f/fra.asp

See also

Forward rate

Derivative (finance)

List of finance topics

Forward Rate Agreements on Wikinvest

***************

IRAQ HAS A LIVE INTERNATIONAL EXCHANGE RATE TODAY (PART 2)

Posted by EXOGEN on July 11, 2014 at 5:14pm

THIS WILL GIVE YOU AN UNDERSTANDING OF HOW CARGO IS SHIPPED GLOBALLY FROM COUNTRY TO COUNTRY. DO YOU REALLY THINK A COUNTRY WOULD SHIP A CARGO SHIP TO IRAQ WITH NO PAYMENT IN FULL UP FRONT AND COMPLETE INSURANCE COVERAGE.

NOTE: THEY ARE UNLOADING INTERNATIONAL CARGO SHIPS RIGHT NOW IN IRAQ TODAY!!!!!!!!!!!

THERE IS A LIVE INTERNATIONAL EXCHANGE RATE IN IRAQ RIGHT NOW TODAY!!!!!

DO YOU THINK A BUSINESS , COMPANY OR COUNTRY WOULD TRUST IRAQ WITH AN IOU FOR A CARGO SHIP WHEN HISTORICALLY IRAQ IS ONE OF THE MOST CORRUPT COUNTRIES ON THE PLANET?

FOB (shipping)

From Wikipedia, the free encyclopedia

FOB is an acronym for “freight on board”. Responsibility for freight costs is determined by the suffix “Origin” or “Destination” after “FOB.” “FOB Origin” (also sometimes phrased as “FOB Shipping” or “FOB Shipping Point”) indicates that the sale is considered complete at the seller’s shipping dock, and thus the individual or organization buying the goods is responsible for freight costs/liability. With “FOB Destination,” the sale is complete at the buyer’s doorstep and the seller is responsible for freight costs/liability.

 [1] Specific terms of the agreement can vary widely, in particular which party (buyer or seller) pays for which shipment and loading costs, and/or where responsibility for the goods is transferred. The last distinction is important for determining liability or risk of loss for goods lost or damaged in transit from the seller to the buyer. International shipments typically use “FOB” as defined by the Incoterm standards, where it always stands for “free on board”. Domestic shipments within the United States or Canada often use a different meaning, specific to North America, which is inconsistent with the Incoterm standards.

North American FOB usage corresponds to Incoterms approximately as follows:

North America

Incoterm

FOB shipping point or FOB shipping point, freight collect

FCA shipping point

FOB shipping point, freight prepaid

CPT destination

FOB destination or FOB destination, freight prepaid

DAP destination

FOB destination, freight collect

FCA destination

Contents

1 Incoterm

2 North America

3 Accounting and auditing (FOB)

4 References

Incoterm

Further information: Incoterm

Under the Incoterms 2010 standard published by the International Chamber of Commerce, FOB stands for “Free On Board”, and is always used in conjunction with a port of loading.[2] Indicating “FOB port” means that the seller pays for transportation of the goods to the port of shipment, plus loading costs. The buyer pays cost of marine freighttransport, insurance, unloading, and transportation from the arrival port to the final destination. The passing of risks occurs when the goods are loaded on board at the port of shipment.

The use of “FOB” originated in the days of sailing ships. When the ICC first wrote their guidelines for the use of the term in 1936,[3] the ship’s rail was often still relevant, as goods were often passed over the rail by hand. In 1954 in the case of Pyrene Co. Ltd. v. Scindia Navigation Co. Ltd.,[4] Justice Devlin, ruling on a matter relating to liability under an FOB contract, described the situation thus:

“Only the most enthusiastic lawyer could watch with satisfaction the spectacle of liabilities shifting uneasily as the cargo sways at the end of a derrick across a notional perpendicular projecting from the ship’s rail.”

In the modern era of containerization, the term “ship’s rail” is somewhat archaic for trade purposes as with a sealed shipping container there is no way of establishing when damage occurred after the container has been sealed. The standards have noted this. Incoterms 1990 stated, “When the ship’s rail serves no practical purpose, such as in the case of roll-on/roll-off or container traffic, the FCA term is more appropriate to use.” Incoterms 2000 adopted the wording, “If the parties do not intend to deliver the goods across the ship’s rail, the FCA term should be used.”[2] The criterion passing the ship’s rail is no longer in use, having been dropped from the FOB Incoterm in the 2010 revision.

For example, “FOB Vancouver” indicates that the seller will pay for transportation of the goods to the port of Vancouver, and the cost of loading the goods on to the cargo ship (this includes inland haulage, customs clearance, origin documentation charges, demurrage if any, origin port handling charges, in this case Vancouver). The buyer pays for all costs beyond that point (including unloading). Responsibility for the goods is with the seller until the goods are loaded on board the ship. Once the cargo is on board, the buyer assumes the risk.

Due to potential confusion with domestic North American usage of “FOB”, it is recommended that the use of Incoterms be explicitly specified, along with the edition of the standard.[5][6] For example, “FOB New York (Incoterms 2000)”. Incoterms apply primarily to international trade, not domestic trade within a given country.

North America

Within the United States, the term FOB is commonly used when shipping goods to indicate who pays loading and transportation costs, and/or the point at which the responsibility of the goods transfers from shipper to buyer.

“FOB shipping point” or “FOB origin” indicates the buyer pays shipping cost and takes responsibility for the goods when the goods leave the seller’s premises. “FOB destination” designates the seller will pay shipping costs and remain responsible for the goods until the buyer takes possession.[7]

Previously, under the Uniform Commercial Code, both “FOB origin” and “FOB destination” left the seller responsible for paying costs of loading goods on board the carrier; hence “free on board”. When the buyer was responsible for loading costs as well, the UCC term was “FAS”, “free alongside”.[8] Currently, the UCC has removed FOB and FAS leaving the definition of these terms up to the interpretation of the parties or the applicable state’s law. Many states have wholly or in part adopted the UCC terms without realizing that the UCC has abandoned the definitions.[9][not in citation given]

A related but separate term “CAP” (“customer-arranged pickup”) is used to denote that the buyer will arrange a carrier of their choice to pick the goods up at the seller’s premises, and the liability for any damage or loss belongs to the buyer.

Colloquially, FOB is often stated to mean ‘freight on board’ as a clarification. However this can actually be confusing and should be avoided as it is not conforming with specified terminology of the UCC.

Accounting and auditing (FOB)

In the past, you would be able to determine when title transferred for goods based on the FOB point. For example, at year- and period-end goods in transit under “FOB destination” (North American usage) appear on the seller’s balance sheet but not in the buyers balance sheet, as the risk and rewards of ownership change to the buyer at the “destination” port.

It is much easier to determine when title transfers by referring to the agreed upon terms and conditions of the transaction, typically, title passes with risk of loss. The transfer of title may occur at a different time (or event) than the FOB shipping term. The transfer of title is the element of revenue that determines who owns the goods and the applicable value.

Import fees when they reach the border of one country to enter the other country under the conditions of FOB destination are due at the customs port of the destination country.[10]

With the advent of e-commerce, most commercial electronic transactions occur under the terms of “FOB shipping point” or “FCA shipping point”.

References

Jump up^ “FOB shipping point definition”. AccountingCoach.com. Retrieved 2013-11-07.

^ Jump up to:a b “FOB Preamble” (PDF). International Chamber of Commerce. Retrieved 2008-10-01.

Jump up^ “Understanding Incoterms”. International Chamber of Commerce. Retrieved 2008-10-01.

Jump up^ “Pyrene Co. Ltd. v. Scindia Navigation Co. Ltd.”. QUEEN’S BENCH DIVISION [1954] 2 Q.B. 198.

Jump up^ “Incoterms FAQ”. International Chamber of Commerce. Retrieved 2008-10-01.

Jump up^ “Preambles to Incoterms 2000″. International Chamber of Commerce. Retrieved 2008-10-01.

Jump up^ “What is the significance of FOB Shipping Point and FOB Destination?”. AccountingCoach, LLC. 2006-07-12. Retrieved 2008-10-01.

Jump up^ “U.C.C. Sect. 2-319 F.O.B. and F.A.S. Terms”. Legal Information Institute, Cornell Law School. Retrieved 2011-01-06.

Jump up^ “U.C.C. – ARTICLE 2 – SALES (2003 Revision – WITHDRAWN) | U.C.C. – Uniform Commercial Code | LII / Legal Information Institute”. Law.cornell.edu. 2013-10-29. Retrieved 2013-11-07.

Jump up^ “What are FOB Shipping Terms?”. Simplestudies LLC. 2010-02-24. Retrieved 2010-02-24.

***************

Elizabeth W G.  July 11, 2014 at 5:50pm

I think this is the important part he is trying to get to us:

DO YOU THINK A BUSINESS , COMPANY OR COUNTRY WOULD TRUST IRAQ WITH AN IOU FOR A CARGO SHIP WHEN HISTORICALLY IRAQ IS ONE OF THE MOST CORRUPT COUNTRIES ON THE PLANET?

Go back to part 1 and read the last couple sentences and that is why this is all important!


Elizabeth W G >11, 2014 at 5:54pm this is actually the part I am referring to:

“In other words, a forward rate agreement (FRA) is a tailor-made, over-the-counter financial futures contract on short-term deposits. A FRA transaction is a contract between two parties to exchange payments on a deposit, called the Notional amount, to be determined on the basis of a short-term interest rate, referred to as the Reference rate, over a predetermined time period at a future date. FRA transactions are entered as a hedge against interest rate changes. The buyer of the contract locks in the interest rate in an effort to protect against an interest rate increase, while the seller protects against a possible interest rate decline. At maturity, no funds exchange hands; rather, the difference between the contracted interest rate and the market rate is exchanged. The buyer of the contract is paid if the reference rate is above the contracted rate, and the buyer pays to the seller if the reference rate is below the contracted rate.
A company that seeks to hedge against a possible increase in interest rates would purchase FRAs, whereas a company that seeks an interest hedge against a possible decline of the rates would sell FRAs.”

So surely Iraq cannot afford the interest rates put on this cargo without a major plan in place and rates being agreed on? right? hopefully! maybe?!!

UPDATE FROM MOUNTAIN GOAT — JULY 11, 2014

Mountain Goat Update – July 11, 2014 UU8772 – Why the hysteria?

Hi Everyone,  I come to you today to give you a very brief update on the progress of rebuilding this new Iraq government  and how it all relates to our revaluation process of the IQD.

So what will happen in Sunday’s session?

Is all what we are being told the truth?

Today’s News

Today is now Friday July 11th  and we anxiously await for the next parliamentary session on Sunday July 13th. We know they originally announced a mid August date for the next session and it was quickly moved ahead to mid July. Why?
….

All my intel sources from Iraq are telling me it is coming to an end  and the government is already decided upon and just waiting for the final voting process as a matter of formality. The plan now is to vote on all three presidencies during this next session. At least this is the plan today. This is what they are preparing for.

As we all should realize by now Maliki is gone.

You can argue with me all you want. He is gone! He has voluntarily retired and can no longer be a threat to the process of building this new government.  As of June 14th his legitimate power as prime minister has ended.

He tried to get his power extended in his swift attempt to get national emergency powers. His plan with the militants in this respect did not work. He has tried to use the reasoning that his party should still be in control since they won the majority seats in the preliminary results of the election. Of course this is twisting facts to suit his own goals.

But remember he was not the only threat. He also has his goons and Shite supporters from the State of Law and the Islamic Dawa Party still around. He could never have been so successful in the past without his supporters. They are still amongst the politicians and they did win 92 seats in parliament. (We will not know the final ratified seat count, after they discounted the invalid ones from voting fraud, only after the new speaker is seated).

Some are saying it is as low as only 60 seats in the final analysis. What does this tell us? It tells us as long as they (meaning the National Alliance the winning party) has a quorum in parliament (quorum defined: the minimum number of voting members who must be present at a properly called meeting in order to conduct business) they will have their way if they are met by no interference.

The 3 presidents will be voted in very soon. If not all on Sunday then shortly thereafter. If not on Sunday’s session there will be a legitimate reason for holding off. They want this new government as much as we want it if not more.

I also want to help some understand what is really currently happening in Iraq.

 I have said to all in multiple news letters in the recent past to be careful of the false intel now coming out of Iraq and from the USA reporters. Seems many of you dinarians are still bent on getting anxious and stressing out over some of these false and recycled articles from the past.

I ask you one question- How the heck can parliament leaders be agreeing on the 3 presidents and at the same time Kurdistan be threatening to pull out of Iraq? Who does that make sense to? Can you think for yourself and stop believing this garbage. I have gotten hundreds of emails requesting details of Maliki leaving. I have given you all the details necessary. There is no more for now to say on this topic.

At some point you have to stop chasing rumors and believe.  You do want to know the truth?

Here examples of the recent propaganda they are now putting out to hype everything up:

1) IRAQ’S CLAIMS OF ISIS SEIZING URANIUM & CHEMICAL WEAPONS:
First this is totally ridiculous. Why? Because Iraq does not process any of these weapons and it was against Chapter 7 sanctions and against current UN articles.

 2) THE CONSTANT BADGERING AS OF LATELY BETWEEN THE KURDISTAN REGION AND MALIKI GOI. First let me say there is no GOI as of June 14th. Maliki is no longer prime minister and has no say in anything dealing with the Kurds. The Kurds know this and simply will disregard any of these statements. Also these articles are weeks if not months old, dates are changed on them and they are simply recycled. They are not current news. Why do they do this?

3)THE KURDS THREATENING TO ANNEX FROM IRAQ: First I will say the Kurds had their opportunity 10 years ago to split off from Iraq. They chose not to do so. It is in their best interest to stay with the Republic for many reasons and they know it.

I believe all this hype is being pumped out by the Maliki goons remaining in Iraq in  last ditch efforts to confuse and create chaos in these last days prior to the announcements. They still want the State of Law’s candidate to get a shot at the prime minister position. They need chaos and fear. They thrive on it!

The average person listening or reading the news would not know the difference of what is really going on in Iraq and might buy into these articles. But we know better….don’t we?

I also want to mention on another issue that is really bothering me. It is ABOUT THE US DOLLAR (USD) DEVALUING. I have heard concern over many of the intel calls and I too have received many emails about this.

Please, please, please stop panicking over this.

Are you a money manager for handling others wealth? Are you responsible for billions if not trillions of dollars? The answer is probably no to both of these questions. For most of you all you have is a maybe a couple million or less in IQD. So what is really your problem with this?

All these intel providers mentioned this and now everyone is panicking. You don’t even know why. You are concerned because you think you have to be. Becasue you are told you have to be over and over again. Let me put your mind to rest.  Some entity is attempting to hit the panic button on the US dollar, making it drop yet even more after the GCR devaluing. It is a plot. The worst thing you can do is not invest in your country’s own currency. Did you hear me?  I said invest in your country’s own currency!

This information, of a devaluation of the USD, was actually a disservice to you and not helping you. This is the problem with giving you too much information. Some of you have selective hearing and only hear negativity.

You are not professional money managers and do not know what to do, if fact you don’t even know when not to do anything at all and stay still. This is reacting to hype with fear. You are being taken advantage of and being manipulated by those that know you are venerable. .

Did you know –
1) There can not be any substantial devaluation of the USD. If it ever happened it will not be planned, this I can assure you. Then you will have some real worries….lol…

2) We are talking about maybe a 5% devaluation (3-4 cents) at the most from the GCR.

3) The USD has had these fluctuations before and you did not even know about it. So what was so horrible? Did the USA economy fall apart? Did you even notice it?

4) The world can not survive if the USD should go below around 73 cents for any long period of time. There is just so much still connected to the USD even after the implementation of the asset backed currencies in GCR.

5) The US economy is still and will remain the most robust economy in the world for decades to come. It will take 20-30 years before they could ever phase out fully the USD as a global standard media currency of exchange if they planned to do it. They will do this slowly and with the support of the USA. Yes – with the support of the USA. This is something the entire world wants and is not a conspiracy against the USA.

Do you know what this means? The USD is not going anywhere for a long time.  So please stay calm and relaxed.

(Note:  There are several groups using the “Nesara” name…….Not all are the same, or should be lumped together in the “same category”)
One more concerning item – NESARA concerns. Please before you ask any questions about the NESARA news please, please go google NESARA and find the truth about this group. Then google NASARA. Two entirely different items. See who they really are. They are instigators and they are trouble makers. They take a tiny bit of truth in something that just happened in the world and take full credit for making it happen.

This group is nothing more than a couple of people in a room with a computer who have gained many thousands of  gullible followers over the years, especially now with the GCR effort. They are claiming full responsibility for any progress made in the stability of the world and the happenings of the GCR. This is of course nonsense.  If this is true then where are all the accomplishments of the original NESARA bill?

I will agree that they and I have the freedom of speech to tell our story just as we have the freedom to ignore them and research and believe in the truth. Yes, in principle I agree with many of the original objectives of the NESARA bill and I believe, if implemented may have saved us from most of this financial crisis we are now experiencing.

But this group has evolved and their intentions today are much different than the original NESARA bill. There are many things that need to change in the world and they now seem to be the crusaders of justice for the entire world. I don’t know about you but I am very much tired of being asked these ridiculous questions about these ridiculous ideas they are putting into peoples minds.

These fictitious payouts, these galactic and alien ships. Sure there are many needed changes and together we all can make a difference. But it starts with you and me. We don’t need NESARA, NASARA or any group like it to tell us how  to think. Oh there is also a NASARA group now too. An offshoot of the original NESARA. Be careful!

The truth about NESARA – National Economic Security and Recovery Act (NESARA) was a set of proposed economic reforms suggested during the 1990s by Harvey Francis Barnard. Barnard claimed that the proposals, which included replacing the income tax with a national sales tax (see also FairTax), abolishing compound interest on secured loans, and returning to a bimetallic currency, would result in 0% inflation and a more stable economy.

The proposals were never introduced before Congress. NESARA has since become better known as the subject of a cult-like conspiracy theory, who claimed that the act was actually 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. Other people have adopted and embellished these ideas.

Summary

I have tried to calm you minds by explaining some of this recent hype we are hearing. It is up to you to now to be responsible in your thinking and how you react to it. You can’t blame anyone else for your stress and anxiety but yourself. If the information you are hearing does not seem quite right then ignore it. It is just hype and meant to get you fearful and anxious. Those that are putting out this nonsense have an agenda. Don’t let them control you mind and manipulate you.

So where is this RV heading this coming week?

I have to tell you that there was definitely a plan last week beginning on Thursday to finalize the international rollout of the IQD and get us all to the bank for exchanges by the early part of this week.  It did not happen due to another  Maliki move just when they were putting the finishing touches on the implementation. This caused just too much instability  and they pulled the plug on it again.

So they dealt with Maliki and it is now all settling down once again. They forced him into retirement. It was put to him this way – retirement or else?

All my intel sources are now telling me they plan to try again this weekend (almost the identical plan). Today is Friday, the process has already begun and so far it is moving ahead.

I do not want to predict any dates or rates but I can say it does look very good for us next week to be at the banks if (remember I said “if”) Sunday’s session in parliament goes well and if their plan to form the government does not get interrupted.

I do not predict rates so I will not divulge what I know in this area since they can change and probably will. I will say the IQD market rate is above $3 and the IQN contract rates with China and Vietnam/China (VNN) are still very strong and there is plenty of money remaining in the buckets for our exchanges. Don’t worry !

Many still keep asking me about the taxes. I will tell you just one more time. Read my lips – there is no news from the IRS on this topic. It will all come out soon. You will be the first to know once I know it. It will not come out until the RV happens.

They do have some special tax rates to coincide with the exchange rate you may take. If you have a state income tax don’t forget about it. Primarily they can do this because of the special and contract rates you may decide to take. Make sure you keep you paperwork and get your agreed to tax rate in writing. Keep for you long term records.

The market rates I am hearing will be subject to the normal currency taxation rules that apply today. If you do not know them look them up or see a tax attorney. These conference call intel providers have no business advising you on your taxes. Everyone is different.

 So please stop asking and worrying over it.

I still firmly believe that we will not see any revaluation of the IQD unless Iraq has a stable and functional government and thus has a political environment that it can advance in and thrive in.

Peace and Luv To Ya All,
Mnt Goat

Friday Morning Mnt.Goat Update: “Why the Hysteria?”

(Thank you GeorgeH for sending this to us:)

UU8772 – Why the hysteria?

Hi Everyone,  I come to you today to give you a very brief update on the progress of rebuilding this new Iraq government  and how it all relates to our revaluation process of the IQD.

So what will happen in Sunday’s session?

Is all what we are being told the truth?

Today’s News

Today is now Friday July 11th  and we anxiously await for the next parliamentary session on Sunday July 13th. We know they originally announced a mid August date for the next session and it was quickly moved ahead to mid July. Why?
….

All my intel sources from Iraq are telling me it is coming to an end  and the government is already decided upon and just waiting for the final voting process as a matter of formality. The plan now is to vote on all three presidencies during this next session. At least this is the plan today. This is what they are preparing for.

As we all should realize by now Maliki is gone.

You can argue with me all you want. He is gone! He has voluntarily retired and can no longer be a threat to the process of building this new government.  As of June 14th his legitimate power as prime minister has ended.

He tried to get his power extended in his swift attempt to get national emergency powers. His plan with the militants in this respect did not work. He has tried to use the reasoning that his party should still be in control since they won the majority seats in the preliminary results of the election. Of course this is twisting facts to suit his own goals.

But remember he was not the only threat. He also has his goons and Shite supporters from the State of Law and the Islamic Dawa Party still around. He could never have been so successful in the past without his supporters. They are still amongst the politicians and they did win 92 seats in parliament. (We will not know the final ratified seat count, after they discounted the invalid ones from voting fraud, only after the new speaker is seated).

Some are saying it is as low as only 60 seats in the final analysis. What does this tell us? It tells us as long as they (meaning the National Alliance the winning party) has a quorum in parliament (quorum defined: the minimum number of voting members who must be present at a properly called meeting in order to conduct business) they will have their way if they are met by no interference.

The 3 presidents will be voted in very soon. If not all on Sunday then shortly thereafter. If not on Sunday’s session there will be a legitimate reason for holding off. They want this new government as much as we want it if not more.

I also want to help some understand what is really currently happening in Iraq.

 I have said to all in multiple news letters in the recent past to be careful of the false intel now coming out of Iraq and from the USA reporters. Seems many of you dinarians are still bent on getting anxious and stressing out over some of these false and recycled articles from the past.

I ask you one question- How the heck can parliament leaders be agreeing on the 3 presidents and at the same time Kurdistan be threatening to pull out of Iraq? Who does that make sense to? Can you think for yourself and stop believing this garbage. I have gotten hundreds of emails requesting details of Maliki leaving. I have given you all the details necessary. There is no more for now to say on this topic.

At some point you have to stop chasing rumors and believe.  You do want to know the truth?

Here examples of the recent propaganda they are now putting out to hype everything up:

1) IRAQ’S CLAIMS OF ISIS SEIZING URANIUM & CHEMICAL WEAPONS:
First this is totally ridiculous. Why? Because Iraq does not process any of these weapons and it was against Chapter 7 sanctions and against current UN articles.

 2) THE CONSTANT BADGERING AS OF LATELY BETWEEN THE KURDISTAN REGION AND MALIKI GOI. First let me say there is no GOI as of June 14th. Maliki is no longer prime minister and has no say in anything dealing with the Kurds. The Kurds know this and simply will disregard any of these statements. Also these articles are weeks if not months old, dates are changed on them and they are simply recycled. They are not current news. Why do they do this?

3)THE KURDS THREATENING TO ANNEX FROM IRAQ: First I will say the Kurds had their opportunity 10 years ago to split off from Iraq. They chose not to do so. It is in their best interest to stay with the Republic for many reasons and they know it.

I believe all this hype is being pumped out by the Maliki goons remaining in Iraq in  last ditch efforts to confuse and create chaos in these last days prior to the announcements. They still want the State of Law’s candidate to get a shot at the prime minister position. They need chaos and fear. They thrive on it!

The average person listening or reading the news would not know the difference of what is really going on in Iraq and might buy into these articles. But we know better….don’t we?

I also want to mention on another issue that is really bothering me. It is ABOUT THE US DOLLAR (USD) DEVALUING. I have heard concern over many of the intel calls and I too have received many emails about this.

Please, please, please stop panicking over this.

Are you a money manager for handling others wealth? Are you responsible for billions if not trillions of dollars? The answer is probably no to both of these questions. For most of you all you have is a maybe a couple million or less in IQD. So what is really your problem with this?

All these intel providers mentioned this and now everyone is panicking. You don’t even know why. You are concerned because you think you have to be. Becasue you are told you have to be over and over again. Let me put your mind to rest.  Some entity is attempting to hit the panic button on the US dollar, making it drop yet even more after the GCR devaluing. It is a plot. The worst thing you can do is not invest in your country’s own currency. Did you hear me?  I said invest in your country’s own currency!

This information, of a devaluation of the USD, was actually a disservice to you and not helping you. This is the problem with giving you too much information. Some of you have selective hearing and only hear negativity.

You are not professional money managers and do not know what to do, if fact you don’t even know when not to do anything at all and stay still. This is reacting to hype with fear. You are being taken advantage of and being manipulated by those that know you are venerable. .

Did you know –
1) There can not be any substantial devaluation of the USD. If it ever happened it will not be planned, this I can assure you. Then you will have some real worries….lol…

2) We are talking about maybe a 5% devaluation (3-4 cents) at the most from the GCR.

3) The USD has had these fluctuations before and you did not even know about it. So what was so horrible? Did the USA economy fall apart? Did you even notice it?

4) The world can not survive if the USD should go below around 73 cents for any long period of time. There is just so much still connected to the USD even after the implementation of the asset backed currencies in GCR.

5) The US economy is still and will remain the most robust economy in the world for decades to come. It will take 20-30 years before they could ever phase out fully the USD as a global standard media currency of exchange if they planned to do it. They will do this slowly and with the support of the USA. Yes – with the support of the USA. This is something the entire world wants and is not a conspiracy against the USA.

Do you know what this means? The USD is not going anywhere for a long time.  So please stay calm and relaxed.

(Note:  There are several groups using the “Nesara” name…….Not all are the same, or should be lumped together in the “same category”)

One more concerning item – NESARA concerns. Please before you ask any questions about the NESARA news please, please go google NESARA and find the truth about this group. Then google NASARA. Two entirely different items. See who they really are. They are instigators and they are trouble makers. They take a tiny bit of truth in something that just happened in the world and take full credit for making it happen.

This group is nothing more than a couple of people in a room with a computer who have gained many thousands of  gullible followers over the years, especially now with the GCR effort. They are claiming full responsibility for any progress made in the stability of the world and the happenings of the GCR. This is of course nonsense.  If this is true then where are all the accomplishments of the original NESARA bill?

I will agree that they and I have the freedom of speech to tell our story just as we have the freedom to ignore them and research and believe in the truth. Yes, in principle I agree with many of the original objectives of the NESARA bill and I believe, if implemented may have saved us from most of this financial crisis we are now experiencing.

But this group has evolved and their intentions today are much different than the original NESARA bill. There are many things that need to change in the world and they now seem to be the crusaders of justice for the entire world. I don’t know about you but I am very much tired of being asked these ridiculous questions about these ridiculous ideas they are putting into peoples minds.

These fictitious payouts, these galactic and alien ships. Sure there are many needed changes and together we all can make a difference. But it starts with you and me. We don’t need NESARA, NASARA or any group like it to tell us how  to think. Oh there is also a NASARA group now too. An offshoot of the original NESARA. Be careful!

The truth about NESARA – National Economic Security and Recovery Act (NESARA) was a set of proposed economic reforms suggested during the 1990s by Harvey Francis Barnard. Barnard claimed that the proposals, which included replacing the income tax with a national sales tax (see also FairTax), abolishing compound interest on secured loans, and returning to a bimetallic currency, would result in 0% inflation and a more stable economy.

The proposals were never introduced before Congress. NESARA has since become better known as the subject of a cult-like conspiracy theory, who claimed that the act was actually 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. Other people have adopted and embellished these ideas.

Summary

I have tried to calm you minds by explaining some of this recent hype we are hearing. It is up to you to now to be responsible in your thinking and how you react to it. You can’t blame anyone else for your stress and anxiety but yourself. If the information you are hearing does not seem quite right then ignore it. It is just hype and meant to get you fearful and anxious. Those that are putting out this nonsense have an agenda. Don’t let them control you mind and manipulate you.

So where is this RV heading this coming week?

I have to tell you that there was definitely a plan last week beginning on Thursday to finalize the international rollout of the IQD and get us all to the bank for exchanges by the early part of this week.  It did not happen due to another  Maliki move just when they were putting the finishing touches on the implementation. This caused just too much instability  and they pulled the plug on it again.

So they dealt with Maliki and it is now all settling down once again. They forced him into retirement. It was put to him this way – retirement or else?

All my intel sources are now telling me they plan to try again this weekend (almost the identical plan). Today is Friday, the process has already begun and so far it is moving ahead.

I do not want to predict any dates or rates but I can say it does look very good for us next week to be at the banks if (remember I said “if”) Sunday’s session in parliament goes well and if their plan to form the government does not get interrupted.

I do not predict rates so I will not divulge what I know in this area since they can change and probably will. I will say the IQD market rate is above $3 and the IQN contract rates with China and Vietnam/China (VNN) are still very strong and there is plenty of money remaining in the buckets for our exchanges. Don’t worry !

Many still keep asking me about the taxes. I will tell you just one more time. Read my lips – there is no news from the IRS on this topic. It will all come out soon. You will be the first to know once I know it. It will not come out until the RV happens.

They do have some special tax rates to coincide with the exchange rate you may take. If you have a state income tax don’t forget about it. Primarily they can do this because of the special and contract rates you may decide to take. Make sure you keep you paperwork and get your agreed to tax rate in writing. Keep for you long term records.

The market rates I am hearing will be subject to the normal currency taxation rules that apply today. If you do not know them look them up or see a tax attorney. These conference call intel providers have no business advising you on your taxes. Everyone is different.
So please stop asking and worrying over it.

I still firmly believe that we will not see any revaluation of the IQD unless Iraq has a stable and functional government and thus has a political environment that it can advance in and thrive in.

Peace and Luv To Ya All,
Mnt Goat

US Dollar to Rupee Exchange Rate Trending Higher, GBP to INR Dips

US Dollar to Rupee Exchange Rate Trending Higher, GBP to INR Dips

Future Currency Forecast – Jul 11, 2014

The US Dollar to Rupee (USD/INR) exchange rate may have trimmed some of its gains on Friday but the pairing is still trading above 60.0400 having advanced in response to Portugal-inspired risk aversion.

Indicators on the seriousness of the Iraqi dinar

7-10-2014  Aggiedad77 Article: “Indicators on the seriousness of the Iraqi dinar because of the security crisis and the government strongly reassure reservists” I firmly believe there must be a large number of people around the world that only read headlines and some of these are written purposefully to incite fear just from the title…while many Iraqi’s made the choice to remove their money from various banks at the outset of the security issues with ISIS…the dinar itself has essentially remained unphased by the crisis…..as has been repeatedly mentioned over the past few weeks the reserves that the CBI has can easily continue to support the exchange rate of the dinar against the dollar.