MilitiaMan

  In MilitiaMan

Article: “Mechanism for opening government documentary credits with private banks” A Documentary credit or “Letter of Credit” is to facilitate trade payments internationally. They are used to make sure things are fair and run smooth. Being internationally accepted in the world requires countries to play on a level playing field… They cannot give out the international exchange rate with out properly announcing they are Article 8 compliant by actually raising the value of the exchange rate. So they use the example of the program rate. imo. Keep in mind they are telling us they are going to use the D/Cs [Documentary credit]. That means they are telling us they are about to change the value of the exchange rate to be internationally accepted and imo that will cease the Multi Currency Practices (MCPs) they have been using…So, the timing of this is by design…Telling us they are ready to go imo.