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  EXOGEN October 20, 2015 at 10:28am

  The People’s Republic of China Subscribes to the IMF’s Special Data Dissemination Standard

  Press Release No. 15/466
  October 7, 2015

  The People’s Republic of China subscribed today to the International Monetary Fund’s Special Data Dissemination Standard (SDDS), marking a major step forward for official statistics in the country. Participation in the SDDS is expected to enhance a country’s availability of timely and comprehensive statistics and contribute to the pursuit of sound macroeconomic policies.

  “The subscription to the SDDS underscores China’s strong commitment to transparency as well as to the adoption of international best practices in statistics,” said Mr. David Lipton, First Deputy Managing Director of the IMF, at a ceremony on the sidelines of the IMF-World Bank Annual Meetings in Lima.

  “China and the IMF have been working together to improve China’s statistics for many years and subscribing to the SDDS is another milestone of this fruitful and important collaboration,” said Mr. Yi Gang, Deputy Governor of the People’s Bank of China. “We are committed to further strengthening our statistical system and enhancing transparency, as this is not only crucial for our own policy making, but also beneficial for a better understanding of the Chinese economy by the outside world,” he added.

  China is the 14th country to graduate to the SDDS from the IMF’s General Data Dissemination System (GDDS), in which the country has participated since 2002. China’s participation brings the number of subscribing economies to 65.

  Background

  The SDDS, established by the IMF in March 1996, is intended to guide members in the provision of economic and financial data to the public. Subscription to the SDDS enhances the availability of timely statistics, thereby contributing to sound macroeconomic policies and the proper functioning of financial markets. The SDDS identifies four dimensions of data dissemination—data coverage, periodicity, and timeliness; access by the public; the integrity of the data; and data quality. Although voluntary, a subscribing member commits to observe the standard and to provide information (metadata) to the IMF about its data dissemination practices. This information is made publicly available on the IMF’s Dissemination Standards Bulletin Board (DSBB).

  The DSBB now provides comprehensive documentation in English on the statistical practices of China for the SDDS data categories, hyperlinked to country data included in the National Summary Data Page, which is maintained by China’s National Bureau of Statistics.

  China’s SDDS information is available athttp://dsbb.imf.org/Pages/SDDS/CtyCtgList.aspx?ctycode=CHN

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  Quentin Dario October 20, 2015 at 9:55am

  Having been in this investment for the past 10 years or so, this is a bit of the same ole same ole. In fact we hadn’t really looked at our investment until about a year and a half ago, the Dinar sits in a safe deposit box and will be broken out when needed. Iraq is moving ahead daily, So EXO is correct in saying that IRAQ is doing just fine without the currency being international. Either way, someday the rate will change and most will not even see it happen. Takes me back to the Kuwait RV, I didnt even know it had changed in value until I walked in the bank with a bunch of currency that I thought was worthless, it was a happy surprise. Keep the faith folks. Life imitating art, In the end, it doesn’t even matter.

  Reply
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    EXOGEN > Quentin Dario October 20, 2015 at 10:04am

    BACK IN APRIL WE WERE TOLD THINGS WOULD PICK UP MID OCTOBER AND THINGS HAVE PICKED UP DEFINITELY. 

    AND YES WE HEARD ALL THE RUMORS OF US DOLLAR CRASHING TODAY AND THE RV/RI TODAY AS WELL

Tony:  Good morning, TNT!  Today is Friday, October 19, 2015.  I will try to answer question. There is a window open tomorrow a little wider.  You have to go through to get to it.  I will tell you details that I’m sure you would like to here.  If this is stressing you out, you need to let it go a little bit. I take the stress every day in the hopes that you don’t have to.  I cannot push the button, and I wake up to the what  you do, so  I do understand your pain.

I want to tell you about a guru who called me over the weekend.  I get these texts and I’m not always paying attention.  Then this person called saying “I’ve got some information you don’t know but need to know”, so I take the call over the weekend.  What he told me was how to run my call – I should say this and that, or not say the other, because this person has to clean up after my call.  I said that he wouldn’t have a site if it weren’t for my calls and my information!  I say what I get from my people, and I say what makes sense.  I don’t control any of it, and this person doesn’t have to control my calls.  So I asked him to please quit text.

The information he thought I should have is that his high bank contacts are saying this is coming out 20 – 25. October.  That’s his hot news – which I presented on the call last Friday.  I said then I have the actual dates but didn’t want to share them yet.  Then there was another three hours of back and forth, and finally he asked if I was taking this down and post it.  What a good idea!  Except that I would lose all credibility if people thought I was talking to this guru. This is my life.

The fact that it didn’t go public this weekend doesn’t mean it couldn’t’ happen.  The memo said they couldn’t have an time off from the 19th to the end of the month.  We saw the rates on Friday, and also the dates, there on the bank screen. I didn’t really think they would wait until then to do it!  Typically when they announce a certain date, they do it about two days before.  In Iraq, they were told to expect this tomorrow.  It all fits into that parameter of things that could happen.  Will it happen tomorrow?  I don’t know, but there is a strong possibility because they have been trained and that’s what is on the schedule between today and the 25th.  In Iraq, that $3.41 rate is on their cards and they cannot use it yet but have been told they will be able to use it in the coming days.

Banks have their lists of people who have bought currency from them. They are being pro-active about that this week, asking people to come in to exchange. We anticipated them doing this once this is live, because then the banks will get their bonus checks and profits from the exchange fees.  Iraq keeps telling their people that this is happening this month, and very likely this week because that is the timeline everyone is using.

Matthew:  Vegas, Vegas, Vegas!  That’s the most important thing to say.  People aren’t looking at this the right way.  Know that this is already done, and afterwards we will have one of the biggest after-parties.  People need to stop worrying.

Tony:  I keep having people say Vegas, Vegas, Vegas! so that we keep that in mind.  DC says that they will not allow that, but I’m thinking if they can see that enough people want to go and just have a good time, that would be great.  We will celebrate, celebrate, celebrate! With what I know, what Pam knows, and Ray knows, this is pretty much done;  we are just waiting for the release.  We know that everything was finalized, ready to go, and that’s why we were excited.  Everyone is still excited this morning, saying we are still on track.  Don’t worry about ‘when’, be thinking about what you will do immediately after we do the short call.

707 caller:  What should I do with the cash in hand in Federal Reserve notes when CL announces the asset-backed currency?

Tony:  You mean the green dollar bills in your pocket? You know my address?  Just put them all in an envelope and send them there!  <joke>  Guys, nothing is going to happen to your money! The US doesn’t work that way, the world doesn’t work that way, and nothing is going to make your money worthless the next day.  Some people have this fantasy that the money system will crash and you’ll have to rush to the bank because your current cash will be worthless. It’s never going to happen, I promise you.

When they make a new five dollar bill, you spend the old ones, the banks gather them up and burn them.  You just keep spending what you are spending, and the bank will take them out  of circulation like they do with any other new issue of currency.  Everyone is using fear to get you to do what they want you to do.

Caller:  Several people in my group have asked the question.

Tony:  We are dinarians and alert to all the currencies.  There are 34,000 on the call.  There are 350 million in the US.  We are the only ones who know about this.  Do you think our government would let that amount of chaos happen in one day?!  You chave to think these things through.

617 caller: When the yuan is announced as a world reserve currency, do you think that this will affect the US dollar?

Tony:  What kind of car do you have?  No car?  I will give you a 2004 Cadillac.  It works and it even looks good.  I am giving you that on Monday and on Friday I’m giving you a 2016 Cadillac.  Both work well, but which do you prefer to use?  There will be two reserve currencies, and that means there are options.  I don’t have to use US dollars or depend on the US.  Any time I don’t really need you, your value decreases.  As more deals are made around the world and as time goes by, that will happen more and more.

Caller:  When you exchange, are you going for all US dollars, or exchange for other currencies?

Tony:  I always thought I would do some other currencies just in case something happens, but as I don’t plan to live in Iraq, Iran or China, I decided that I need all the US dollars I can get.  I was told by the Treasury that the new asset-backed notes will be used around the world to match where they have asset-backed currencies.  If they use new notes in the US, they have to change all the bank machines, all the vending machines, and they cannot do that overnight. If they decide to change from the Fed to the Treasury notes, we will know far in advance.

404 caller:  You said the banks are putting together lists of those who have bought currency from them – dinar only, or other currencies as well?

Tony:  I’m pretty sure all the currencies in the first basket.

Caller:  What if you have only bought through dealers – how do you  get on a list?

Tony:  They will tell us how to do that.  No bank wants six million people calling them to see what the rates and conditions are.  They need some direction or there will be chaos.  They want us to be processed within nine days – the first 350,000 of us who are aware of what is going on, ie., the internet group;  the rest will just have to find out on their own.

Caller:  What about those banks that have being saying “we’ll never be dealing with dinar”?  Will there be an actual announcement from Washington or wherever?

Tony:  If could have gone out to all of them over the weekend.  I think the announcement I’m waiting for will trigger this, but I doubt it will be a global, public announcement, because most people don’t know anything about this.  After the announcement, it will trickle out to Forex and the financial papers.

Caller:  [Appreciation]  Vegas, Vegas, Vegas!  and the sooner the better!

559 caller:  I’m doing well – superfantastic.  Vegas, Vegas, Vegas, here we come!  You’ve pretty much answered my questions, but I’m curious you said Iraq still has a rate of $3.41 and we’re still in the window.  Any difference to our rates and contract rates?

Tony:  The last time the rates were seen, they were still good and there are contract rates.

Caller:  I hope this is the last call.  My bags are packed and ready to go to Vegas, Vegas, Vegas!

Tony:  Every day I pray this is the last call.

202 caller:  I am a first-time caller.  What benefit does a gift letter give?  Is there any benefit to having the bank witness it?  What benefit does it confer around taxes?

Tony:  A gift letter only certifies that you gave away the currency before revaluation. They won’t have a receipt, so this creates a paper trail that shows the currency was given before the value increased.  That’s all it is.

Caller:  I’m not able to go to Vegas, not physically.  God bless you!

410 caller:  We have been told that we will have a wealth manager instead of a regular banker;  does that mean we will have more time?

Tony:  My understanding is that you will go to your first appointment with an exchange person and meet with your wealth manager afterwards.  They will do the exchanges first and get everyone through in nine days, and then deal with where they will put all the cash.

Caller:  When we are looking to find the best rates, it will be like Beat the Clock…

Tony:  It is, and in that respect, there has to be a basic rate.  Their goal is to NOT let you walk out without exchanging.  If you are not taking the contract rate, someone is.  When they are out of them, they’re out.  Then your backup option might be to watch Forex, wait for it to go up and down.  Do you go to one bank and get it all done, get your money making money?  Or do you go to all the banks, make a decision, and by the time you get to the appointment and find they have run out of contract rates?  The point is to make money, put it to work so that it creates a legacy. Otherwise it will be gone before you know it.

Caller:  [Appreciation]  Vegas, Vegas, Vegas!  Or wherever we can see you.

432 caller:  I’m doing great!

Tony:  Things are looking superfantastic at the moment, just waiting for the moment.  I don’t think we are waiting on the US budget at all… no where we are today.

405 caller:  Have there been any attempts to let this go?

Tony:  No, there is authorization to let it go, but no attempts.   They said, “Okay, we all agree to go at this day and this time”, and we just don’t know what that is yet.  It will be between the 20th and the 25th.  That’s what it says on the screens.  Iraq has been told it would be on the 20th, and over the weekend others have said, “This could go at any moment because it is free to go.”

406 caller:  What two dates do you feel this is most likely to happen?

Tony:  I feel it’s most likely to happen Tuesday through Friday.

Caller:  You feel it really could happen tomorrow?

Tony  I feel it really could happen tomorrow.

954 caller:  I’m superfantastic – and you?  We have heard there is a delay to the zim, that it will come out in the second basket – is that true?  Do you hear anything about taxes?

Tony:  I haven’t heard that about the zim.  I have heard a rate for taxes, but don’t want to say what I’ve heard.  Just set aside 50%.

773 caller:  [chitchat]  You said something like “while the rates were being seen”;  are they not being seen now?

Tony:  You had to pick up on that.

601 caller:  Where is Dr. Shabibi, do we know?

Tony:  I’m pretty sure he’s in Iraq getting things done.  I don’t agree that he has to come back before we see this.  It could happen, but it’s not a requirement. He’s already got the green light;  people in the banks wouldn’t have been told ‘no vacation’ until the end of the month unless they were ready to go.

Caller:  Vegas, Vegas, Vegas!  I can’t wait!

407 caller:  We discussed the limit of $14,000 that you can give an individual per year without tax on either side.  If you add a person to your bank account, would checks that they write have an impact on their tax situation?

Tony:  I would be more concerned about eligibility for government or private programs.  If they are given a bunch of money, that might make them ineligible, because they look at the last five years of income, property, etc.  We do want to help people, but it might be better to take them out to dinner or YOU pay their light bill.  Consult with a lawyer and/or accountant before giving people money so that you don’t have a negative impact.

816 caller:  I’d like to say to the man who has so much cash around, does he need someone to adopt?  [Tony:  He can adopt me!]  Pam put out on Sunday that it was as good day for an RV… did anything happen that made you think it would be on Sunday?

Tony:  Absolutely!  Pam and I were both excited because on the Friday call we already knew it was authorized.  Just didn’t’ know when it would happen. We were told to be on our Ps and Qs, ready if needed, and we are still waiting for that.  Pam goes through the same things you do.

Caller:  I cannot imagine what Iraq is going through, that it’s on your cards but you cannot use it. There are so many people who need this to happen. We can live the rest of our lives out of debt and helping others.

Tony:  How long can they tease the people with this rate on their cards, and how they are bringing them back into the international community… how long can they do that before people explode?  The same is true with the SKRs:  they see all this money in their accounts and they cannot use it.  One person I know has been seeing that for over a year!  Hopefully no one has to suffer much longer.

Caller:  Abadi tweeted that the Budget was accepted for 2016… anything else required?

Tony:  It was approved by the Council of Ministers.  Today, Abadi tweeted that ‘the reforms have been completed’.  What does that mean?  I’m 99.9% sure it SHOULD go this week, that it has been released in the system and will be here one day soon. I am happy and ecstatic about it, we just don’t know the exact time/day, so long as nothing chaotic happens.  In Iraq, they are saying “in the coming days”, which for them means in the next 2-3 days.  “In the coming period” sometime this month.

Caller:  I cannot go to Vegas, but you can go and have a good time!

786 caller:  In the banks, you said the 20-25. October.  What happens when we call?  What if it goes past the 25th?  Do they take that off?

Tony:  No, the 20-5th is the window for this to go LIVE.

Caller:  Oh!  Vegas, Vegas, Vegas!  Tell your wife she is the best, a strong woman who is standing by her man…

Tony:  Pam says it’s time.  Her line seems to have dropped.  Ray?

Ray:  I lost my connection and had to call back in.  It’s Marvelous Monday;  continue to have a good time.  I meant to prepare an exit statement this weekend but I didn’t get it done. So goodbye… I’ll see you when I see you.

Pam:  Goodbye!

Tony:  It IS a good day.  It’s going to be a good week, I hope.  Everything is still moving forward, and hopefully it will all be over between the 20th and the 25th. The 20th is tomorrow, so hopefully this is the last call.  Enjoy your day!