(Friday Night / Saturday Morning)
Today at 5:07 AM
Being a rather extreme pragmatist I am doing just fine and in fact have been having moments of great excitement! If you know me at all you know that I run from small mindedness and seek out the big picture in everything.
On August11 I learned that Iraq had selected a seemingly nobody to be their next PM. Who was this Mr. al-Abadi and why him?
Before the hour had ended I found my answer, this 'nobody' had served as the president of Iraq's parliamentary finance committee from 2011-present.
My mind was doing cartwheels!
I immediately 'knew that I knew' that they were about to form their new gov't and that this man, this nobody, had been CHOSEN for the job by the same people who's own personal greed is the driving force behind this entire currency event.
Many of you have been asking my opinion on Maliki, Shabibi, the 2014 budget, etc etc. Do we really care? Recognize when you are allowing others to drag you down to their perspective (I call this the weeds) and then remove yourself and climb back up where you belong as there can be no big answers found down there.
I don't mean to appear short here, we can discuss these things til you all fall asleep and I am the last one standing but please get my point. What value is there in it? Does it add to our confidence?
I have no idea what the 'dinar world' has been saying these past weeks and nor have I cared as this is a matter that had to be worked out in MY mind for opinions mean nothing in building our confidence.
I have not been shouting from the rooftops about my expectations for a few reasons:
1) there are so many voices already shouting that mine would mean nothing. "just another opinion"
2) my personal life in August was far from normal.
3) I don't need to be popular and am not drawn to those who do. When I have nothing to say, I say nothing.
4) In the final analysis who cares? If right, then soon we will all be promoted and none of this past clamoring for fame will mean a thing.
I expect the re-pricing of the IQD to be coming soon and I share this for the following reason:
The voices that are proclaiming that the sky is falling are hurting my ears. In all your dealings be "above" this. I have taken you on a journey this year that was designed to elevate in our thinking and then to ask questions always from this higher plane.
If I took a survey of some basic global discussions many of you would test higher that you would expect and THAT has been my aim.
Is the USD destined to die this year?
Is a bail-in type event a near term possibility for US banks?
Are the BRICS in a hostile takeover of the world financial system?
I have great confidence in the answers to these questions and the answers (not opinions) have all been shown repeatedly in my blogs. The point here is that going forward?
The answers to all of your biggest questions/concerns are knowable. The deception at times runs quite deep but even that can be seen and properly factored for!
We have before us no excuses but only opportunity. When Rick Wiles interviewed Peter J. Daniels a few months ago he asked if the coming transfer of wealth in the world was coming into the hands of believers and Mr Daniels (without a moments hesitation) gave the most simple and perfect reply:
"Not if we don't take it!"
This sentence captures perfectly that which has been burning in my heart for nearly two years. How blessed I am that God did not release this initial blessing to his people when I thought He should! Shame on me.
Is. 55:8,9 tells us to do what?
In a Memphis paraphrase, we are to but....chill.
I am continuing to go deeper in my understanding of our world than I ever thought possible and yet my greatest enemy remains my own ignorance! As we each go deeper? We must not neglect to look to God for guidance for it is only He who can fill in these gaping holes (and much more!) with His Wisdom.
Current events could fill a novel so allow me to close with just a small snapshot of the western banking system.
Recently the big banks posted huge profits for 2nd qtr. 2014. You may have missed the news tho that they did so with some clever accounting. They cheated.
Vast sums of money earmarked as reserves against potential losses were simply transferred to the other side of their balance sheet and counted as profit. Such news ought to catch our attention guys as each day we see things playing out that will ultimately be paid for by the depositors.
The regulators? Those who should be minding the store? They said it wasn't right for the banks to do this. Yep, that's it. Not even a slap on the wrist.
The article that follows is taken from ZeroHedge.com tonight and submitted by Simon Black, a guy I like. Even Simon tho can mislead at times by omission as this quote illustrates:
"Even in the United States, renminbi payment business increased 327% last year!"
His above statement is true but he fails to tell the reader that China's currency is but a fraction of 1% in US trade settlement. The transition away from the USD for trade settlement is a process and Simon knows this.
Not trying to beat up on him here but to force us to ALWAYS ask questions from an informed position else we might be played for fools in the days ahead.
The other side of that coin, the use of the USD in reserves is separate and distinct from the discussion of settling trade. 90% of the style="display:none;">_s are used as reserve. THIS is an important fact to remember.
If the USD goes belly up before there is a new reserve set in place? Then everybody loses and thus this seems unlikely to happen.
The topic of zero and even negative rates of return on deposits from the banks (did you see what the Dutch Central Bank did this week?) is a precursor to bigger events and a further example that deflation is to be the destroyer of economies.
Add in the failed system of socialism, NSA spying, and sovereign debts never seen before, and the picture becomes clear to the informed that this cycle is entering it's last stages.
The next few (3-5) years will bring many headlines and for those who will seize it, an opportunity that most generations never witness!
Memphis: Century of Enslavement: The History of the Federal Reserve
If this sounds familiar, I recommended this several weeks ago as being of great value to all. If you wish to see it, the entire 90min production has been offered free of charge by it's author James Corbett on YouTube at: http://youtu.be/5IJeemTQ7Vk
Memphis: As a side note, I follow all of James' YouTube channel updates and regard him as a good source for honest information.
I am out of words for now so let me close with a blessing from, Memphis
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Everything That's Wrong With Banking Summed Up In One Bonehead Advertisement
Tyler Durden's picture
Submitted by Tyler Durden on 09/05/2014 21:00 -0400
Submitted by Simon Black via Sovereign Man blog ,
If you’re looking around right now for a new bank account that pays a reasonable rate of return, ANZ bank has a hell of a deal for you: 0%!
That’s right. ANZ is offering its depositors absolutely zero interest. 
Now, a bank paying 0% isn’t exactly abnormal in today’s banking environment. But what’s really strange is that ANZ actually took out an ad in an Australian newspaper to advertise this.
Yesterday’s page 10 of the Australian Financial Review (AFR) had a quarter-page ad from ANZ boasting about 0% interest rates for accounts denominated in a number of foreign currencies, including Hong Kong dollars, Japanese yen, British pounds, and more.
Curiously, in order to qualify for this bargain 0% rate, you have to meet a rather significant deposit minimum.
For the 0% Japanese yen account, for example, you have to deposit 23.5 million yen (currently about $223,000 US dollars).
So basically some manager at ANZ actually thought that paying 0% interest on substantial account minimums would be an attractive offer… so attractive, in fact, that they should brag about it in the newspaper.
This is so completely ridiculous. But it really crystalizes what’s wrong with the entire financial system.
We’re told to keep our money in banks… that banks are safe. But the objective data tells a completely different story.
Holding money in most banks guarantees that you will lose money.
Adjusting for taxes and inflation, you’re losing at least 2% per year, even if you believe the governments’ notoriously understated official inflation statistics.
This level of absurdity pushes people into riskier and riskier assets, simply in an effort to avoid LOSING money.
Case in point - the government of Spain recently issued 1 BILLION euros worth of bonds that yield a paltry 4%. And they’re due in 2064.
Bear in mind, Spain is completely broke. And just two years ago the government had to pay 7.5% on ten year notes.
Now people are lending money to the Spanish government for 50 freaking years at just 4%.
This is insane.
But couldn’t this insanity last forever? Couldn’t the grand wizards of the financial system continue to engineer one deranged bailout after another for decades to come?
Possibly. But unlikely.
Right now the US dollar is the world’s dominant reserve currency. This gives the United States nearly total control of the global financial system.
In order to clear cross-border trade transactions, foreign banks HAVE to use the US banking system (which is controlled by the US government).
Further, the rest of the world must essentially mirror US Federal Reserve policy.
But this power… and insanity… only lasts as long as the US dollar is the dominant reserve currency. And this is starting to change rapidly.
China’s renminbi is becoming much more widely accepted around the world for trade settlement; a number of foreign governments are now holding renminbi reserves and doing deals to promote trade in renminbi.
Even in the United States, renminbi payment business increased 327% last year, and the US is now the fifth largest offshore renminbi settlement center.
It’s no secret here, this is happening right under our noses. The financial system IS changing.
People who ignore this trend do so at their own financial peril.
Yet those who understand what’s happening and align themselves accordingly stand to make fortunes.
The Weimar Republic’s episode with hyperinflation in the 1920s is a great example.
Despite all the warning signs, most people did nothing… and they got wiped out.
A handful of people, though, saw the writing on the wall. They took steps to safeguard what they had. And they allocated their investment capital to bet that the currency would collapse.
They were right. And vast fortunes were created in a matter of months.
Throughout history there’s always a handful of people ahead of the trend. And they’re rewarded for their foresight.
Right now we’re in the very early stages of a similar transition– arguably one of the most important economic transformations since the Industrial Revolution.
Because of this, opportunities already abound if you know where to look. It’s an incredibly exciting time to be alive.
Memphis Part 2 Today (Saturday) at 3:18 PM
In reflecting on last night's blog it seemed good to speak further to my concern about all the fear mongers that are roaming about.
Also, there are several new names (friends from KTFA that you would quickly recognize!) on my mailing list and so for the benefit of all I am re sending my blog from 07/28 that attempts to answer some fears of the USD's soon demise.
"...we must separate the dollar into two primary categories – trade and reserve. They perform two distinct functions..." ~ Martin Armstrong
There are entirely too many people crying the the sky is falling as they point at the USD. I warned against this in May/June when so many "opportunists" were using the July01 roll-out of FATCA to scare folks that this was to be the death of the dollar.
I have received many questions about such characters, asking if I "follow" them or "endorse" them. My general and all encompassing reply, actually more of a litmus test, is as follows:
Read the following glimpse into THE REAL WORLD courtesy of Mr. Armstrong and then ask yourself if such balanced perspective is being offered by any particular "financial expert" that you consider. If no? Proceed at your own risk.
The following is therefore a further example of how we stay grounded, maintaining our elevated perspective despite all the voices that would drag us down to their micro (spelled: small-minded) view of the world.
I could likely convince you on most anything I choose if done in the micro but that would be deceitful as it is only in the larger view that we can have an honest discussion and be equipped to then make.....decisions.
Does the USD have an expiration date?
Yes it does but let's follow the real markers and then begin to lay down the stuff (can I say crap here) that we carry simply because so-and-so said it was important!
The central planners are not flying blind here. You think they do not recognize that FATCA and all other regulations are driving entire economies into the waiting arms of the BRICS? [If you have yet to read Friday's newsletter RE: Are the BRICS Taking Over the World? by JC Collins, it is important.]
Things are not so complicated as we are made to believe. I daily see/hear what can only be called dis-information, things put out with the expressed purpose of making YOU chase your own tail. It's a sick world!
As things develop (devolve) further and our legitimate concerns grow? We can then act with confidence and make wise decisions to both preserve and grow what God has so richly blessed (entrusted) us with.
To share a favorite quote that I wish was mine:
"Better a year too early than a day too late."
Memphis note: based on reports it appears that these "newsletters" are easily reaching several hundred people that I know nothing about.
I hope these efforts to equip are being absorbed and received as intended, as a further "equipping of the saints", for that is my mission here.
I guess my concern is that all might see the need as clearly as I do but I am certain that such concerns will vanish on the day after the re-pricing of the dinar for on THAT day many will awake and find themselves suddenly overwhelmed with clarity.
Killing the Dollar
Posted on July 15, 2014 by Martin Armstrong
The recent attempts by the USA to impose huge fines on foreign banks for violating US sanctions with Iran based solely on transactions in dollars is having the same impact as FATCA. The US Justice banking penalties are becoming a threat to the dollar being used in such transactions.
While this is unlikely to cause the decline in the dollar as a reserve currency, for transactions, firms and banks are starting to plan to replace the US dollar as a trading currency.
This growing fear of the future penalties from the US authorities is starting the process in motion whereby we will eventually move to a new international reserve currency.
The efforts of Russia and China to establish trade in their currencies is interesting but not a threat to the reserve status of the dollar. That is separate and distinct from the trading status of the dollar.
One can trade in any currency, but where do you park money?
That can still only be the dollar where there is a deep market (reserve). So we must separate the dollar into these two primary categories – trade and reserve. They perform two distinct functions.
The Euro never got off the ground as a reserve currency and is second to even the Chinese yuan in trade. Because the Euro would not create a consolidated debt, they prevented the second prong from forming – the place to park money.
You can conduct trade in yuan, but you cannot park trillions of dollars in yuan or rubles no less euros. So you trade in whatever you like, but you convert to dollars to bank it.
Major banks can switch out of dollars to for any transaction thereby avoiding US sanctions. After the transaction takes place, the parties can flip into dollars to park it. The US Justice Department will then be defeated [in their hunt for money].
Nevertheless, FATCA and the drive to punish foreign banks with billions in fines for acts outside the USA is creating the subtle shift toward a world currency at the reserve level for trade and parking.
This trend is in motion always. Whatever these people can do to serve their personal interests will set in motion the ultimate drive to a new world reserve currency that cannot be based upon any single nation.