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Received via email at 11:13 AM EDT for publication. ~ Dinar Chronicles So much disturbance today in the political, financial and militar...

Saturday, June 3, 2017

"Re: ZIM as Bearer Bonds and Response to Victor" by BB136 - 6.3.17

Entry Submitted by BB136 at 6:04 AM EDT on June 3, 2017

http://inteldinarchronicles.blogspot.com/2017/06/re-bearer-bond-why-not-exchange-by.html

Thank you Victor for addressing my inquiry....

Actually though, the 2008 Zim notes were used as currency, but were ALSO printed on bond paper and use language of a non-interest, bearer bond; the Reserve Bank of Zimbabwe issued a statement in June of 2015 "demonetizing" the Zimbabwe Dollar, and allowed exchange of the 2008 Trillion notes for a short time; after that, they were no longer legal tender; In about Novembeer of 2015, Yosef enlightened us that they were also Bearer Bonds, and the Elders would "buy" them from us at an exchange under essentially a private contract.

http://www.rbz.co.zw/assets/demonetisation-press-statement-9-june-2015.pdf

They state in this Press Release: "Demonetisation is the act or process of removing the legal status of a currency unit. In our case the currency unit is the Z$ that we are demonetising. Demonetisation is necessary whenever there is a change of national currency. The old unit of currency must be retired or decommissioned.

Zimbabwe adopted the multiple currency system or dollarization in 2009 and it is therefore necessary to demonetise the Z$ unit to replace it with the multiple currency system as was approved in the Finance (No. 2) Act of 2009. The decommissioning of the Z$ has therefore been pending and long outstanding since 2009.

Demonetisation is not compensation for the loss of value of the Z$ due to hyper-inflation. It is an exchange process...

After 30 September 2015 bank notes that have not been exchanged shall be considered demonetised or decommissioned."

Therefore, it is important to know what "demonitization" of a currency means: it is the act of stripping a currency unit of its status as legal tender. "legal tender" means coins or banknotes that must be accepted if offered in payment of a debt. The Press Release states that the Z$ is the Currency Unit, and therefore,the Reserve Bank of Zimbabwe was basically "dollarizing" Zimbabwe, and stopping the use of the Zim$ as legal tender.

http://www.investopedia.com/terms/d/demonetization.asp?lgl=myfinance-layout-no-ads

https://en.wikipedia.org/wiki/Legal_tender

That is important, because the Press Release does not state that the Bond notes are being called in, and therefore, they remain as valid Bearer Bonds.

Thus, the "light bulb" over my head when on when Yosef stated that it was a Bond! I researched, and in fact, as printed (the words used, and the paper) makes them Bearer Bonds! With NO EXPIRATION!

So, since they are Bearer Bonds by their very nature and language on the paper, the Reserve Bank of Zimbabwe must pay to the Order of the Bearer Zimbabwe Dollars...they do not have an expiration date, and therefore, technically the Reserve Bank of Zimbabwe cannot differentiate as to what "year" of Zimbabwe dollars must be "paid to the bearer"; i.e. the 100 Trillion Note/Bond actually says "I promise to pay the bearer on demand One Hundred Trillion dollars" and it is issued by the still existing "Reserve Bank of Zimbabwe"...THEREFORE, once the Zim dollar (no matter how they symbol it, ZWD, ZWR, etc.) becomes legal tender again in Zimbabwe, we absolutely should be able to submit our Bearer Bonds for payment at the Reserve Bank of Zimbabwe...

The question now becomes, when will the Zimbabwe $ be legal tender again, if it is not already...

Your statement about not being enough to fund these bonds is wrong, as the banks simply "monetize" the paper/bond and credit digital dollars to our accounts.. The difference is that it is not a fiat currency situation anymore, it is backed by a great deal of gold and other assets, as Yosef has told us.

The new ZIM, is the ZWD symbol on the currency sites:

http://www.xe.com/currency/zwd-zimbabwean-dollar

and at 0.00276 to $1 USD, technically, we should be able to present our Bearer Bonds to a Bank of Zimbabwe and they must pay to our Order...YES

the amount of $276,000,000,000,000.00 ($276 BILLION DOLLARS) if and when the ZIM $ is legal tender again...and I think they would lose a lawsuit if they refuse to pay....

I am looking for a currency/bond/financial expert to refute my conclusions of the research....

Blessings,

BB136

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