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Eagle1 Update From KTFA Forum Tuesday Evening - 07/09/2013

ronscarpa

By ronscarpa,
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ronscarpa Grand Master

ronscarpa

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Eagle1 Update From KTFA Forum Tuesday Evening - 07/09/2013

Eagle1 » July 9th, 2013, 6:57 pm • Latest Developments

Good Afternoon, Family!

Frank and I will be discussing some of these things tonight on the CC, but here are a few tidbits for you.

IMF is telling us (and so are people at Chase and WF) that 198 currencies should (and I emphasize, "SHOULD!") go live tonight on FOREX.

FOX Business News reported this morning that the FDIC voted this morning to implement Basel III tomorrow, July 10. 

The news is also reporting that banks that are not compliant may use IQD or other currencies to beef up their asset or capital base in order to become compliant.

In Bloomberg News, the European Central Bank (ECB) also voted today to begin requiring all European banks to begin compliance procedures tomorrow, and that they must be Basel III compliant by August 1.

If they are not compliant by that date, they are required to do a Cyprus-style haircut on their bank bondholders (as opposed to bank depositors like Cyprus did) in order to reach required liquidity levels.

The U.S. Dollar is part of the 198 currencies expected to go "live" tonight, and is expected to lose up to 50% of its value against many world currencies.

I've already suggested to many folks who have the ability to do so to either move their funds into Canadian banks or convert any excess cash into Canadian dollars, since the CAD will increase in value by 10 - 20%.

Many of the big banks are in the process (and have been) of beefing up their security in preparation for customers coming in for the exchange. 

Even for us here in the Yakima Valley, although we don't have a large population base comparatively speaking, there are many hundreds of Dinar holders who need a place of exchange, and Wells Fargo has already prepared a separate location in order to accomplish the security issues.

Once again, it is appropriate to warn everyone that just because we're going to see these massive move all at once with the USD devaluing in the midst of it, this is NOT the end of the unfolding events. 

We still have the roll-out of the new Treasury-backed USD on or about October 8th, and the news of that event continues to spell out the fact that bank depositors will take a serious hit on the Fed funds they have on deposit.

This piece of news is not totally confirmed, so take this for the moment as a rumor. Those people who exchange their IQD WILL BE PAID in the new U.S. Treasury-backed dollars. 

So long as they deposit the proceeds into a non-interest-bearing checking account that has NO Fed funds in it before hand, the monies in that account will be treated as untouchable when the October 8th event takes place. 

Bear in mind that if you utilize the funds in that account, you may NOT deposit any funds into that account that are not UST backed or the entire balance will be treated as the old Federal Reserve monies.

Confirmation one way or another of the above should follow before too long, and I will pass it along.

Blessings on you.

Eagle1

 

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BJinMontreal Newbie

BJinMontreal

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Yeah - My money is gonna be worth more tomorrow !!!

 

As IF !!!

 

Basel compliance won't even be enforced until 2015 ... when banks have to have at least 60% liquidity coverage

http://www.bis.org/bcbs/basel3/basel3_phase_in_arrangements.pdf

 

I didn't see the IQD mentioned anywhere ... I guess that must be because it isn't an internationally recognized currency yet!!!

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tankdude Newbie

tankdude

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Yeah - My money is gonna be worth more tomorrow !!!

As IF !!!

Basel compliance won't even be enforced until 2015 ... when banks have to have at least 60% liquidity coverage
http://www.bis.org/bcbs/basel3/basel3_phase_in_arrangements.pdf

I didn't see the IQD mentioned anywhere ... I guess that must be because it isn't an internationally recognized currency yet!!!


Hmmm -I'd say something about it really being pennies on the dollar - but since you don't have those anymore ....
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odie Newbie

odie

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I Love this!! LOL.

1) First its all true, reported on Fox news.

2) Then on down in paragraph. "Uh, non of this has been substantiated! So don't take as fact.

haha, its like hearing a speech from the administration.

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