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 RV GCR Weeks End News

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PostSubject: RV GCR Weeks End News   Fri Jan 06, 2017 10:49 am






https://youtu.be/y2bhKFa6--M


  



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PostSubject: Re: RV GCR Weeks End News   Fri Jan 06, 2017 10:50 am

Restored Republic via a GCR: Update as of January 6, 2017

2:05:00 AM
Restored Republic via a GCR Jan. 6 2017

Compiled in the morning of 6 Jan. 2017 by Judy Byington, MSW, LCSW, ret, CEO, Child Abuse Recovery www.ChildAbuseRecovery.com; Author, "Twenty Two Faces," www.22faces.com.


A. Jan. 5 2016 Bruce's The Big Call and Jan. 4 highlights: Dinarland Highlights for January 4, 2017

1. 15,000 people with SKRs had been liquidated as of yesterday Jan. 4 2017.

2. Not all of the SKRs are completed yet.

3. Some people in subgroups still need to be contacted by email or phone to be hydrated.

4. Paymaster accounts have been fully funded from Central Banks around the world through major tranches from Asia.

5. The hiccups of the SWIFT system have been taken care of as of today Jan. 5 2017.

6. Everything is moving forward without problems as of yesterday Jan. 4 2017.

7. The final part of the UN operational rate is showing. The UN has released Iraq of chapter 7 sanctions and their currency is known internationally.

8. Iraq paid back Kuwait around 5 billion dollars in newly revalued dinar. They had to have a rate settled in Iraq to do that.

9. We should have notifications soon (within days) to set our appointments.

10. Some appointments have been set for Monday Jan. 9 2017.

11. In Iraq the budget was passed, was made law, put in their Gazette, but has not yet been made public.

12. A huge flagpole has been erected in Mousul. A 60 ft long 30 ft tall Iraqi flag gift from China was presented today June 5 2017 to PM Abadi. It should be flying by tomorrow morning June 6 2017 9:30 am EST.

13. The new currency rates have been on bank screens showing pending. At 4:30 pm yesterday June 4 2017 the screens went blank as they were likely repopulating the rates. We don't think they are live yet.

14. The Dinar is substantially higher than what we thought it was last Tues.

15. Off site redemption centers had skeleton crews during the holidays. They are now at full staff as of 7-7:30 tonight EST June 5 2017.

16. There are $2500 cash bundles ready at the bank to give redeemers at their exchange. You can ask to take home cash up to $10,000.

17. As of midnight tonight June 5 2017 the redemption centers should be staffed and ready to go.

18. We have approval of all systems to go.

19. All the banks we will be working with Wells Fargo, HSBC, RBC in Canada, TD Bank, Scotia Bank. Scotia Bank in the Caribbean. Also Moca Pocia Bank in South America. The other banks we have here Bank of America, Citibank.

20. Twelve of the large banks all set to exchange the Dinar. There are 6800 exchange centers in North America.

21. The call is a two step process. You call the 800 number, tell them what you have. Based on your zip code and what you have, you will be given a second number to call.

22. The time frame is one hour and 10 minutes.

23. If Bruce gets the 800 numbers he will get them out to various websites.

24. Individual redeemers will have the ability to negotiate rates within certain ranges - you don't have to be in a group to have the higher rates.

25. The face value of the Zim is $1.

26. "Rebuild America" involves adopting cities and towns as a team of The Big Call - organizing through Bruce to help with infrastructure, schools, hospitals, etc. You are welcome to include Rebuild America in your business plan.

B. Jan. 5 2017 11:11 am EST Overview: "Ahab" - RV Overview - Thursday - January 5, 2017

1. On Friday Jan. 6 2017, a joint session of Congress is going to open electoral votes and ultimately decided to upon our next US President and Vice President. That may be Trump. That may be Ryan. It won't be Clinton.

2. The CIA intelligence briefing on Russian hacking is presented today Jan. 5 2017 and right before the joint session sits down tomorrow at 1pm to decide the US Presidency.

3. Congress can throw out both the popular vote and electoral college vote if they suspect voting irregularities in any state. It only takes one Senator or Congressman to challenge the voting process and another to second the motion. That would send the US Presidency and Vice Presidency to a majority vote in Congress.

4. Perhaps this is why the CIA's intelligence briefing is suddenly appearing today of all days, just a day before all those sealed electoral college votes decide out next administration.

C. Jan. 5 2017 4:50 pm EST Bank story TNT Gatorguy: "Wait for the Go Sign" - Thurs. PM TNT Thoughts I am at Citibank branch in (Florida- the address was deleted so people would not call them) They are exchanging 1 million IQD Dinar for 250k. Exchange rate is 0.2507 cents. (It was later confirmed that within hours Citibank had changed back to the old rates.)

D. Jan. 5 2017 4:48 pm EST KTFA Jay: "USA Now Oil Backed" - Thurs. PM KTFA Thoughts/News Imo the USA is now oil-backed (aka asset-backed because) the dollar is plummeting and oil is down, too. It used to be that when the dollar was down oil was up. Now they move in unison. This is awesome for our investment. Say byebye to Fiat. The dollar being down should also raise the value of the Dinar.

E. Jan. 5 2017 WSOMN AdminBill: Dinarland Highlights for January 4, 2017

1. I'm anticipating the GCR after the inauguration, Jan. 20 2017, but would not be surprised if it happened earlier.

2. News has gotten difficult to get these days, although Frank's message last night (see #B) was as good as the veiled info coming from RayRen.

3. Ray is more connected than many are aware of and is very careful how he words his info.

4. A contact from Wells Fargo says the Zim, Dinar, Rupiah, Rial and Dong are off the currency screen. They are believed to be they are entering new rates.

5. Let's see what happens next. It may mean nothing, or everything.

F. Jan. 5 2017 Intel Guru Frank26: Intel Guru Frank26

1. On Tuesday Jan. 3 2017 Guru Delta called and said that the President of Iraq used an Executive Order to postpone the budget.

2.Delta said that if it came out with a new rate we would be happy, but if it came out with a program rate it would not impress the international world.

3. The President of Iraq doesn’t want to release it because there is a new rate in it.

4.This also came from the High Council of Ministers.

5. The budget doesn’t need to be approved or passed, it needs to be protected.

6. Last Sat. night Dec. 31 2016 PM Abadi comes out and says he needs 72 hours. Now he wants another 72 hours more. (which would bring it up to Fri night Jan. 6 2017).

7. This extension is suspected because of Mosul:

Reuters: Iraqi general says 70 percent of east Mosul retaken from Islamic State
http://reut.rs/2hU9VE4

BBC: Iraqi forces launch offensive near Syria border
http://www.bbc.co.uk/news/world-middle-east-38517358

G. Jan. 5 2016 11:22 pm EST Dr. Clarke Update: Quick Update from Dr. Clarke 1-5-17 As of the end of the day. Thurs. Jan. 5 we don't feel that this weekend of the 7th-9th will produce. Quite a bit has changed over the past few days, significantly. The last 2 weeks of Dec. 2016 did produce public funding outside the country of Iraq with a handful of notable, credible banks newly trading & exchanging the Dinar - which is really big, but without a substantially increased rate.We could throw some dates out there, but just want to say that the official Public Exchange frenzy is sure to take place.

H. Jan. 5 2017 5:14 pm EST GCR Review:
"Reasons to Be Encouraged" - GCR/RV Review - Thursday 5, 2017

Global Commitment to Peace
Global Commitment to Middle East Peace
Global Commitment to Ending Terrorism
Stable Petroleum Oil Spot Pricing
Stable Natural Gas Spot Pricing
Stable Precious Metals Spot Pricing
Stable Currencies Parity Pricing
Collateralized Global Economic Authority
Global Financial Reset
Global Banking & Regulation Reset
Revaluation of Global Currencies
Reinstitution of Global Gold Standard
Elimination of All Fiat Currencies & Assets
Establishment of Global Value Added Tax (VAT)
Elimination of Corrupted Government, Executive, Legislative & Judicial Actors
Elimination of All Unconstitutional Acts & Amendments
Elimination of All Unconstitutional Executive Orders
Reversal of All Unconstitutional Laws & Statutes
Reduction of US Military Base Presence Globally
Reductions of US Troop Deployment Globally
Reduction of US Conflict Engagement Globally
Restoration of the Original Republic of the United States of America Form of Government
Restoration of the Original Republic of the United States of America Congressional Constitution
Restoration of the Original Republic of the United States of America Executive, Legislative & Judicial Branches of Governance & Authority
Restoration of the Original Republic of the United States of America Popular Voting Law in All Future National Elections

I. Jan. 5 2016 10:28 am EST GCR Update: Restored Republic via a GCR: Update as of January 5, 2017

J. Jan. 5 2017 Political Update: Gary Larrabee - Kent Dunn: Bribed Politicians, CIA vs NSA Gun Battle

Resources:

"Structure" - Geopolitical Overview - Wednesday - January 4, 2016

Restored Republic via a GCR: Update as of January 4, 2017

CIA Black Ops Commander "The American Republic Has Been Restored"

WikiLeaks' publisher Julian Assange is said to be live and open for questions 9 am EST Thurs. on Reddit @Reddit_IAmA #AskMeAnything #IAmA #proofoflife pic.twitter.com/ZNVM0xFkss

"Structure" - Geopolitical Overview - Wednesday - January 4, 2016

Restored Republic via a GCR: Update as of January 4, 2017

Restored Republic via a GCR: Update as of January 3, 2017

Restored Republic via a GCR: Special Update Summary 1-3-17

Guest Posts Regarding Humanitarian Projects for January 2017

RV Intel/Thoughts/News - All Posts for January 3, 2017

CIA Black Ops Commander "The American Republic Has Been Restored"

"Up Ending" - Geopolitical/GCR/RV Overview - Tuesday - January 3, 2017

"The Reset of Humanity" - Geopolitical Overview/GCR/RV - Tuesday - January 3, 2017

Geopolitical/RV/GCR Intel Update via RMN 1-1-17

The Big Call w/ Bruce Intel Notes by PinkRoses 1-3-17

"Rates are Good" - Last Night's WSOMN Chat w/ AdminBill

"Trump's 1st Executive Order" - Guest Post by KS

"Dinar Rate for Bishop1" - Guest Post by Jt

"36 Hours or So" - Intel from WSOMN AdminBill 1-3-17

Judy Note: In her 2012 biography "Twenty Two Faces" Jenny Hill exposed a many centuries-old international child sexual abuse and human sacrifice ring run by political, religious and banker-leaders of the Cabal and Illuminati. Hill claimed that as a six year-old she was tortured and witnessed the murder of another child, Kathleen Shea, in a Satanic human sacrifice ceremony. http://www.youtube.com/wat?v=F626Lsrdwg4.

Like thousands of other Satanic Ritual Abuse Survivor children thought to be undergoing this torture even today, the abusive experiences resulted in fracturing her mind into multiple personalities. This child exploitation was said to be overseen by a Nazi mind control agent brought into the US by the CIA after World War II: www.22faces.com www.ChildAbuseRecovery.com

Such horrendous acts where global elites practiced the sexual abuse and human sacrifice of children was also uncovered in the global Pedogate and local US Pizzagate Scandals (that came to light in 2016 through over 50,000 Clinton-John Podesta emails exposed by Wikileaks) PIZZAGATE: A SPECIAL REPORT ON THE WASHINGTON, D.C. PEDOPHILA SCANDAL, Video: Satanic Child Sacrifices and Child Rape -- Save Children's Lives!, in Kevin Annett's International Tribunal into Crimes of Church and State's two-year prosecution of global leaders including Queen Elizabeth and the Vatican by six international judges at the International Common Law Court of Justice in Brussels: http://beforeitsnews.com/contributor/pages/243/590/stories.html and more recently by former New York Mayor Rudy Giuliani: Official Statement from Mayor Rudy Giuliani -- PizzaGate Scandal, Pedophile Ring, Fake News, 9/11 Cover-up and More by way of Giuliani's Twitter Account: http://archive.is/IDBh5.

We will be eternally grateful for these heros who continue to bravely fight this Ninth Circle Satanic Cult and their ongoing rape, torture and murder of innocent children. The good guys included the restored US Republic's "White Hats and White Knights," Annett's ITCCS and Tim Ballard's Operation Underground Railroad.
You are invited to participate in the eradication of this unthinkable child sex trafficking, torture and homicide. Listen to the latest intel about the global elite's international child exploitation ring on Radio Free Kanata: www.bbsradio.com/radiofreekanata, and/or donate your time and/or funds to the ITCCS: Welcome to ITCCS.ORG and The International Tribunal into Crimes of ... and Operation Underground Railroad:Operation Underground Railroad



Thanks to: http://inteldinarchronicles.blogspot.com


  

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PostSubject: Re: RV GCR Weeks End News   Fri Jan 06, 2017 6:36 pm

Friday, January 6, 2017


"Electoral" RV History - Friday January 6, 2017


 


"Electoral"
RV History
Friday
January 6, 2017



-----------

"We used to root for the Indians against the cavalry, because we didn't think it was fair in the history books that when the cavalry won it was a great victory, and when the Indians won it was a massacre."

-- Dick Gregory

-----------
On January 6, 2017...

The US Congress meets in joint session to count the electoral votes. The Vice President, as President of the Senate, is the presiding officer. Two tellers are appointed to open, present and record the votes of the States in alphabetical order. The President of the Senate announces the results of the vote and declares which persons, if any, have been elected President and Vice President of the United States. The results are entered into the official journals of the House and Senate. The President of the Senate then calls for objections to be made. If any objections are registered, they must be submitted in writing and be signed by at least one member of the House and Senate. The House and Senate would withdraw to their respective chambers to consider the merits of any objections according the procedure.


If no candidate receives a majority of Electoral votes, the House of Representatives elects the President from the 3 Presidential candidates who received the most Electoral votes. Each state delegation has one vote. The Senate would elect the Vice President from the 2 Vice Presidential candidates with the most Electoral votes. Each Senator would cast one vote for Vice President. If the House of Representatives fails to elect a President by Inauguration Day, the Vice-President Elect serves as acting President until the deadlock is resolved in the House.

Under federal law an objection to a state’s Electoral votes may be made to the President of the Senate during Congress’s counting of Electoral votes in January. The objection must be made in writing and signed by at least one Senator and one member of the House of Representatives. Both the Senate and the House of Representatives debate the objection separately. Debate is limited to two hours. After the debate, both the Senate and the House of Representatives rejoin and both must agree to reject the votes.

* In January 2005, Ohio’s 20 Electoral votes were challenged. After debate, the Senate and the House failed to agree to reject the votes. Ohio’s 20 Electoral votes for President Bush and Vice President Cheney were counted.

Posted by enerchi at 1/06/2017 11:11:00 AM

Thanks to: http://www.ascensionwithearth.com


  

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PostSubject: Re: RV GCR Weeks End News   Sat Jan 07, 2017 9:55 am

"Security Issues" - Intel SITREP from Deep Source(s) 1-7-17

1:43:00 AM
SITREP (Situation Report)

1-7-17
12:39 AM EST


Deep Source (RV/GCR):
"No exact times are being given. Security is the main issue. The Ft. Lauderdale airport shooting was a Cabal operation. The RV cannot proceed until all security threats have been neutralized. Hate for it to be an excuse, but it is what it is. No peace, no RV."

Deep Source (Resistance):
"More Cabal operatives hunted down. Amnesty being given to Cabal actors to join the resistance or be arrested/killed. It was decided by the Chinese Elders that the Cabal actor Paul Ryan would not be the right choice for President of the restored Republic. Instead, Cabal actor Trump was chosen to become President of the restored Republic in return for his amnesty. This was decided for a smoother transition as the public has already accepted Trump as their President."

Deep Source (The Alliance):
"Malevolent D.U.M.B.'s are in the process of being neutralized. Negotiations continue."

Note from Deep Source(s):
"Please note: Intel that is being provided from us to you is indeed accurate but completely raw and does have a tendency to not follow through. There is no denying that we are all in frustration and loss of patience. It is entirely a fact that intel being provided is real, but there are constant on-going activities that change the situation. This is agonizing but you mustn't lose hope. Nothing lasts forever."


Thanks to: http://inteldinarchronicles.blogspot.com


  

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PostSubject: Re: RV GCR Weeks End News   Sat Jan 07, 2017 9:56 am

Restored Republic via a GCR: Update as of January 7, 2017

1:42:00 AM  
Restored Republic via a GCR Jan. 7 2017

Compiled in the early morning hours EST of 7 Jan. 2017 by Judy Byington, MSW, LCSW, ret, CEO, Child Abuse Recovery www.ChildAbuseRecovery.com; Author, "Twenty Two Faces," www.22faces.com.

A. Jan. 6 2017 TNT RayRen98 Call: iTeleseminar.com/93421470 #wearethepeople

1. Recently in the banks there has been a 180 degree change regarding the buying or selling of the Iraqi Dinar and for all intents and purposes, the international acceptance of the Dinar is upon us.

2. We’re where we were on Wed, apart from the larger number of banks, credit unions and currency exchangers who now admit to buying and selling the Iraqi dinar. Now we're up to 12 banks, 1 credit union, 3 currency exchange dealers and counting which are buying and selling Dinar.

3. We had some orientation from the agencies saying 800 numbers should pop out today Jan. 6 2017.

4. Banks were expecting this to pop on Tues. Jan. 3, or Wed. Jan. 4 and now the banks are saying to check back in on Mon. Jan. 9.

5. It’s done over there, we are just looking for the full release of the revaluation. Even they (Iraqi contacts) are saying they don’t know why it hasn’t been released to the public.

6. International rate will be different from the in-country rates. There is a special rate for exchanging dinar in the US, and it will be different from the rates in other countries.

7. The banks have told us the rates on the US screen, and those using Iraqi credit cards in the US, is already at $3.71.

8. 615 caller: I have an update: the Dow hit 20,000 today, so that prophecy was fulfilled today. So I’m ready, if that touches off the RV.

(The Iraqi Dinar is said to be the kingpin of the Global Currency Reset - that when the Iraqi Dinar goes international, the rest of world currencies will also revalue and become asset backed).

B. Jan. 5 2017 WSOMN AdminBill:

1. The news on Thurs. night Jan. 5 was very strange, but also very comforting. By strange I mean unexpected but positive. It dealt with personal business, so I did not want to discuss it, but I'm more than ever excited about our prospects this month.

2. News continues to improve. The activity for Zim holders is promising, which makes me believe the RV/GCR is close at hand.

3. The Info from banking sources is a strong indicator that they are expecting, not anticipating, action soon.

4. Will it be this week, or post-inauguration is anyone's guess.

C. Jan. 5 2017 Bank Story Ralph: RALPH POST: BANK STORY, 5 JAN

1. On Sat. Dec. 31, 2016 I called the Chase location where I have purchased most of my foreign currency and asked to speak with the branch manager and was informed that they have a record of my foreign currency purchases - the specifics of which can be read on their web-site.

2. I was told my exchange fee was 3% of the total exchange.

3. On Tues. Jan 2, 2017 the Chase teller who I have made numerous purchases from, informed me that there has been movement on some of the currencies I hold.

4. She leaned over the counter and whispered that on Mon. Jan. 9 2017 "new rates with increased values" on several foreign currencies are to be available.

Resources:

Steve Pieczenik Interview on the Cabal Takedown

"Electoral" - RV History - Friday - January 6, 2017

"For The Record" - One Who Believes - 1.6.17

Restored Republic via a GCR: Update as of January 6, 2017

The Columbia Organic Act of 1871 Also known as United States Inc.

Guest Posts Regarding Humanitarian Projects for January 2017

Ahab" - RV Overview - Thursday - January 5, 2017

"Reasons to Be Encouraged" - GCR/RV Review - Thursday 5, 2017

Restored Republic via a GCR: Update as of January 5, 2017

The Big Call w/ Bruce Intel Notes by PinkRoses 1-5-17

RALPH POST: BANK STORY, 5 JAN

Judy Note: In her 2012 biography "Twenty Two Faces" Jenny Hill exposed a many centuries-old international child sexual abuse and human sacrifice ring run by political, religious and banker-leaders of the Cabal and Illuminati. Hill claimed that as a six year-old she was tortured and witnessed the murder of another child, Kathleen Shea, in a Satanic human sacrifice ceremony. http://www.youtube.com/wat?v=F626Lsrdwg4.

Like thousands of other Satanic Ritual Abuse Survivor children thought to be undergoing this torture even today, the abusive experiences resulted in fracturing her mind into multiple personalities. This child exploitation was said to be overseen by a Nazi mind control agent brought into the US by the CIA after World War II: www.22faces.com www.ChildAbuseRecovery.com

Such horrendous acts where global elites practiced the sexual abuse and human sacrifice of children was also uncovered in the global Pedogate and local US Pizzagate Scandals (that came to light in 2016 through over 50,000 Clinton-John Podesta emails exposed by Wikileaks) PIZZAGATE: A SPECIAL REPORT ON THE WASHINGTON, D.C. PEDOPHILA SCANDAL, Video: Satanic Child Sacrifices and Child Rape -- Save Children's Lives!, in Kevin Annett's International Tribunal into Crimes of Church and State's two-year prosecution of global leaders including Queen Elizabeth and the Vatican by six international judges at the International Common Law Court of Justice in Brussels: http://beforeitsnews.com/contributor/pages/243/590/stories.html and more recently by former New York Mayor Rudy Giuliani: Official Statement from Mayor Rudy Giuliani -- PizzaGate Scandal, Pedophile Ring, Fake News, 9/11 Cover-up and More by way of Giuliani's Twitter Account: http://archive.is/IDBh5.

We will be eternally grateful for these heros who continue to bravely fight this Ninth Circle Satanic Cult and their ongoing rape, torture and murder of innocent children. The good guys included the restored US Republic's "White Hats and White Knights," Annett's ITCCS and Tim Ballard's Operation Underground Railroad.
You are invited to participate in the eradication of this unthinkable child sex trafficking, torture and homicide. Listen to the latest intel about the global elite's international child exploitation ring on Radio Free Kanata: www.bbsradio.com/radiofreekanata, and/or donate your time and/or funds to the ITCCS: Welcome to ITCCS.ORG and The International Tribunal into Crimes of ... and Operation Underground Railroad:Operation Underground Railroad.




Thanks to: http://inteldinarchronicles.blogspot.com


  

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PostSubject: Re: RV GCR Weeks End News   Sat Jan 07, 2017 11:56 am

A special article by attorney J. Levy.


War bonds are a ticking debt bomb
By Jonathan Levy.



Will the rumored reconciliation between the Chinese Nationalist Party (KMT) and the Chinese Communist Party (CCP) trigger a little-known clause that will force the redemption of billions of dollars in defaulted Chinese government debt?



In 1949, Chiang Kai-shek’s (
蔣介石) Nationalists made a successful last stand on the island outpost of Taiwan against the almost victorious red tide of Mao Zedong (毛澤東). However, prior to 1949, Chiang’s Republic of China (ROC) was a profligate issuer of sovereign bonds, most of it backed by gold. These bonds sold around the world and were underwritten by the largest banking houses like HSBC, Barings, Bank of China and JPMorgan. They were viewed as gilt edge investments with a high rate of interest.


The bonds were used to finance the wars against Japan and the Communists, Chinese infrastructure like railroads, and they helped to modernize China. The bonds also put China deep into debt. By 1939, the war with Japan had forced China to suspend payments on most bonds, though additional victory and liberty bonds sold in China and the US helped finance the successful war effort against Japan.



By 1949, China had redeemed some of its World War II debt, and had Chiang defeated the Communists, he would undoubtedly have dutifully begun to pay off the remainder, some of it dating back to the Imperial days of China’s Boxer Rebellion reparations, in order to keep the nation’s credit rating above water. However, after being forced to retreat to Taiwan in 1949, the Republic of China in exile had no alternative but to put the bonds into hibernation.



The ROC Presidential Order on Oct. 29, 2003, implemented from March 1, 2004, by the Order of the Executive Yuan Article 63 of the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area (
台灣地區與大陸地區人民關係條例) states:
“To the extent not contrary to the public order or good morals of the Taiwan Area, it shall be upheld the legal effects of any civil matter together with any right or obligation thereof created in the Mainland Area, prior to the coming into force of this Act, between any of the people of the Taiwan Area and the Mainland Area, or between any two or more of the people of the Mainland Area, or between any of the people of the Mainland Area and any foreign national.
“The provisions of the preceding paragraph shall not apply provided that there had been laws or regulations in effect, prior to the coming into force of this Act, restricting the exercise or transfer of the rights referred to therein.



“The following debts shall not be repaid prior to national unification:
“1. Outstanding foreign currency bonds issued in the Mainland prior to 1949 and the short-term Gold Bonds of 1949.
“2. Various debts owed by any government bank, as well as any other financial institution accepting deposits before their retreat from the Mainland.”



According to former minister of justice Cheng Chung-mo (
城仲模): “The intent of this Act in regards to pre-1950 Chinese bonds was to reaffirm their existence as defaulted foreign debt obligations of the Republic of China owed in the United States and elsewhere and to defer their resolution until national unification. These bonds referred to in Article 63 were all issued by the former Kuomintang government of the Republic of China or were ratified by the Kuomintang government.”


When the bonds were effectively put in cold storage in 1949, the economy of the embattled KMT-controlled Taiwan was minuscule and could not reasonably be expected to pay back the combined debts of a 60-year Chinese borrowing spree. Today however, the combined economies of the PRC and Taiwan are formidable. Poverty would not be a reasonable excuse if Article 63 were triggered by a KMT brokered reconciliation.



Institutions and banks have, at least publicly, written off the defaulted Chinese bonds long ago. The US Securities and Exchange Commission considers these bonds to be historical documents worth only what a collector would pay to a collectible bonds dealer, or on EBay, to own a bit of the past.


Con artists have also used the bonds to defraud their victims.
On the other hand, the bonds were recently still trading on the Paris Euronext Exchange, albeit at a fraction of face value. The individual bondholders are a tenacious lot and have refused to accept that the bonds are unredeemable. The American Bondholder Foundation takes one tack claiming that the PRC will redeem the bonds on its own initiative. This is unlikely since the KMT, not the PRC, was the issuer, although the foundation has had enough pull to get several US congressmen to support their scheme.



Another large group of individual bondholders combined to sue the KMT in the Taiwan Civil Rights Litigation Organization (TCRLO) versus Kuomintang Business management Committee federal court case in California. Although the bondholders sought a default judgement backed by Article 63; the US court declined jurisdiction, citing too much time had elapsed from 1950. However, the bondholders did manage to bring forward Article 63 and obtain Cheng’s expert opinion.


 


The court, while dismissing the case as too dated, did not dispute the logic or lawfulness of the Article 63 reaffirmation.
See Taiwan Civ. Rights Litig. Org. v. Kuomintang Bus. Mgmt. Comm., 2011 U.S. Dist. LEXIS 124812 (USDC ND Cal., Oct. 13, 2011); Affirmed by Taiwan Civ. Rights Litig. Org. v. Kuomintang Bus. Mgmt. Comm., 2012 U.S. App. LEXIS 21621 (9th Cir. Cal., Oct. 17, 2012).


How much debt is out there? Most bondholders agree the aggregate debt could be in the billions. Some of the bondholders are hoping for the full value of bonds, interest and penalties, all keyed to the value of the gold backing the bonds, an astronomical sum. Others are like the bondholders in TCRLO v. KMT who were seeking a more modest amount of interest dating from 1950 when the KMT put the bonds on ice.



No one would be happy with the small fraction of face value which was offered to British bondholders in 1997 as an accommodation to the UK government upon the transfer of Hong Kong to Chinese suzerainty.



A KMT-CCP accord on the mainland, however, would by law trigger Article 63. Former president Chen Shui-bian (
陳水扁), no fan of the CCP and currently a political prisoner of the KMT, was the man who reaffirmed the bonds via Article 63. Indeed, Chen no doubt knew that by keeping the debt issue simmering on the back burner, reconciliation would be less likely given the potential amounts at stake.


Taiwan itself, under Republic of China occupation since 1945, had no part to play in racking up the debt. Taiwan was a possession of Japan from 1895 until 1945, the very dates when almost all of the debt arose. Taiwanese would not stand for insult being added to injury by being forced to pay off a hefty portion of the KMT’s debt in China, which financed the industrial infrastructure that the PRC today exploits. Yet, the KMT that stands to profit from a reconciliation seems to believe that Taiwanese will meekly pay any cost.



By filing a lawsuit about the debt time bomb, the bondholders and TCRLO have exposed the seamy underside of KMT politics. The price tag of reconciliation would no doubt fall disproportionately on Taiwanese and, while the PRC might pay some of the old debt, they would not pay all or even most of it.
Then there is the question of what happened to the gold that backed the bonds in the first place. Before the KMT fell, it evacuated, by air and sea, many of its hard assets from China. TCRLO and the bondholders contended that this gold formed the basis of the KMT’s billions, the so-called black gold that has financed so many KMT business and political operations over the years.


 

 

 


The KMT would be loath to give up its billions, now dispersed among its business subsidiaries and banks, and it would never permit an audit. Again the people of Taiwan would be forced to take up the slack and give generously to finance a reconciliation with the CCP that they do not need or want.



Ultimately, the bondholders should be paid a fair return by the PRC, which still benefits from the infrastructure the bonds paid for, and from the KMT, which apparently absconded with the gold to fund its own enrichment. The rehabilitation of Chen’s legacy is the first step in a process that hopefully will lead to both the independence of Taiwan and breaking the back of the KMT’s unjust enrichment.


Jonathan Levy is a member of the International Criminal Bar and an adjunct faculty member at Norwich University’s Diplomacy Program. The author represented the bondholders and TCRLO in TCRLO v. Kuomintang and has also represented former president Chen Shui-bian. The opinions expressed herein, however, may be attributed to the author, who speaks only for himself and not his former clients.

Here is Cheng Chung Mo's interpretation of Article 63                                      

https://es.scribd.com/document/39689208/24-2

Dr. Jonathan Levy
Attorney & Solicitor
Brimstone & Co.
Attorneys & Solicitors
1629 K Street NW Suite 300
Washington DC 20006 USA
Tel/Fax 1-202-318-2406
www.brimstoneandcompany.com


Los bonos de guerra son una bomba de la deuda
Por Jonathan Levy



¿La rumorosa reconciliación entre el Partido Nacionalista Chino (KMT) y el Partido Comunista Chino (PCCh) desencadenaría una cláusula poco conocida que obligará a la redención de miles de millones de dólares en deuda de gobierno chino incumplida?
En 1949, los nacionalistas de Chiang Kai-shek (
蔣介石) hicieron una exitosa última posición en el puesto avanzado de la isla de Taiwán contra la marea roja casi victoriosa de Mao Zedong (毛澤東). Sin embargo, antes de 1949, la República de Chiang de China (ROC) era un emisor devolviendo de bonos soberanos, la mayor parte de esto respaldado por el oro. Estos bonos se vendieron en todo el mundo y fueron suscritos por las mayores casas bancarias como HSBC, Barings, Bank of China y JPMorgan. Se vieron como inversiones de borde dorado con una alta tasa de interés.


Los bonos se utilizaron para financiar las guerras contra Japón y los comunistas, la infraestructura china como ferrocarriles, y ayudaron a modernizar China. Los bonos también pusieron a China en una deuda profunda. En 1939, la guerra con Japón había obligado a China a suspender los pagos en la mayoría de los bonos, aunque la victoria adicional y los bonos de libertad vendidos en China y Estados Unidos ayudaron a financiar el exitoso esfuerzo de guerra contra Japón.



En 1949, China había redimido parte de su deuda de la Segunda Guerra Mundial, y si Chiang derrotó a los comunistas, indudablemente habría empezado a pagar el resto, parte de los cuales se remontaban a los días imperiales de las reparaciones de la rebelión boxeadora de China. Para mantener la calificación crediticia de la nación por encima del nivel del agua. Sin embargo, después de verse obligado a retirarse a Taiwán en 1949, la República de China en el exilio no tuvo otra alternativa que poner los bonos en hibernación.



La Orden Presidencial de la República de China el 29 de octubre de 2003, ejecutada a partir del 1 de marzo de 2004, por la Orden del Yuan Ejecutivo. Artículo 63 de la Ley de Relaciones entre el Pueblo del Área de Taiwán y el Área Continental (
台灣 地區 大陸 地區 人民關係 條例) dice:
"En la medida en que no sea contraria al orden público oa la buena moral del Área de Taiwán, se mantendrán los efectos jurídicos de cualquier asunto civil, junto con cualquier derecho u obligación que se crea en el Área del Continente, antes de la entrada en vigor de este Entre cualquiera de las personas de la zona de Taiwan y de la zona continental, o entre dos o más personas de la zona continental, o entre cualquiera de las personas de la zona continental y cualquier ciudadano extranjero.


 


"Lo dispuesto en el párrafo anterior no se aplicará a condición de que existan leyes o reglamentos vigentes antes de la entrada en vigor de esta Ley que restrinjan el ejercicio o la cesión de los derechos a que se refiere.


"Las siguientes deudas no serán reembolsadas antes de la unificación nacional:
"1. Los bonos en moneda extranjera emitidos en el continente antes de 1949 y los bonos de oro a corto plazo de 1949.
2. Varias deudas adeudadas por cualquier banco del gobierno, así como cualquier otra institución financiera que acepte depósitos antes de su retirada del continente ".



Según el ex ministro de Justicia, Cheng Chung-mo (
城仲模): "La intención de esta Ley con respecto a los bonos chinos antes de 1950 era reafirmar su existencia como obligaciones de deuda externa de la República de China en deuda en Estados Unidos Y en otros lugares y aplazar su resolución hasta la unificación nacional. Estos bonos a que se refiere el artículo 63 fueron emitidos por el antiguo gobierno del Kuomintang de la República de China o fueron ratificados por el gobierno del Kuomintang ".

 

 

 


Cuando los bonos se pusieron efectivamente en almacenamiento en frío en 1949, la economía del controlado KMT controlado por Taiwán era minúscula y no se podía esperar razonablemente que pagara las deudas combinadas de una fiebre china de préstamos de 60 años. Hoy, sin embargo, las economías combinadas de la República Popular China y Taiwán son formidables. La pobreza no sería una excusa razonable si el artículo 63 fue provocado por una reconciliación promovida por el KMT.



Las instituciones y los bancos han cancelado, al menos públicamente, los bonos chinos incumplidos hace mucho tiempo. La Comisión de Valores de Estados Unidos considera que estos bonos son documentos históricos que valen sólo lo que un cobrador pagaría a un distribuidor de bonos coleccionables, oa eBay, por poseer un poco del pasado. Los estafadores también han utilizado los bonos para defraudar a sus víctimas.


Por otra parte, los bonos se negociaban recientemente en la Bolsa de Valores de París, aunque en una fracción del valor nominal. Los tenedores de bonos individuales son un lote tenaz y se han negado a aceptar que los bonos son irremediable. La American Bondholder Foundation toma un tachuela alegando que el PRC redimirá los bonos por su propia iniciativa. Esto es improbable puesto que el KMT, no el PRC, era el emisor, aunque la fundación ha tenido bastantes tirón para conseguir a varios congresistas de los EEUU para apoyar su esquema.


Otro gran grupo de tenedores de bonos individuales se unieron para demandar al KMT en el caso de la Corte Federal de Derechos Civiles de Taiwan (TCRLO) contra Kuomintang. Aunque los tenedores de bonos solicitaron una sentencia por omisión respaldada por el artículo 63; El tribunal estadounidense declinó la jurisdicción, alegando que había transcurrido demasiado tiempo desde 1950. Sin embargo, los tenedores de bonos lograron presentar el artículo 63 y obtener la opinión de expertos de Cheng.


El tribunal, aunque desestimó el caso como demasiado anticuado, no cuestionó la lógica o la legalidad de la reafirmación del artículo 63. Vea Civ de Taiwán. Derechos Litigios. Org. V. Kuomintang Bus. Mgmt. Comm., 2011 US Dist. LEXIS 124812 (USDC ND Cal., 13 de octubre de 2011); Afirmado por Taiwan Civ. Derechos Litigios. Org. V. Kuomintang Bus. Mgmt. Comm., 2012 U.S. App. LEXIS 21621 (9ª Cir. Cal., 17 de octubre de 2012).


¿Cuánta deuda hay por ahí? La mayoría de los tenedores de bonos están de acuerdo en que la deuda agregada podría estar en miles de millones. Algunos de los tenedores de bonos están esperando el valor total de los bonos, los intereses y las sanciones, todos clavados en el valor del oro que respalda los bonos, una suma astronómica. Otros son como los tenedores de bonos en TCRLO v. KMT que estaban buscando una cantidad más modesta de interés que data de 1950, cuando el KMT poner los bonos en el hielo.


 

 


Nadie estaría satisfecho con la pequeña fracción del valor nominal que se ofreció a los tenedores de bonos británicos en 1997 como un alojamiento para el gobierno del Reino Unido tras la transferencia de Hong Kong a la suzura china.



Un acuerdo del KMT-CCP en el continente, sin embargo, por ley despediría el artículo 63. El ex presidente Chen Shui-bian (
陳水扁), ningún ventilador del PCCh y actualmente un prisionero político del KMT, era el hombre que reafirmó los enlaces vía Artículo 63. En efecto, Chen sin duda sabía que al mantener el problema de la deuda a fuego lento, la reconciliación sería menos probable dadas las posibles cantidades en juego.


El propio Taiwán, bajo la ocupación de la República de China desde 1945, no tuvo ningún papel que jugar en acumular la deuda. Taiwán era una posesión de Japón de 1895 hasta 1945, las mismas fechas en que casi toda la deuda surgió. Los taiwaneses no soportarían el insulto a la lesión al verse obligados a pagar una importante parte de la deuda del KMT en China, que financió la infraestructura industrial que hoy explota la RPC. Sin embargo, el KMT que se beneficia de una reconciliación parece creer que los taiwaneses pagarán humildemente cualquier costo.


 

 


Mediante la presentación de una demanda sobre la bomba de tiempo de la deuda, los tenedores de bonos y TCRLO han expuesto el lado inferior costoso de la política del KMT. El precio de la reconciliación sin duda caería desproporcionadamente sobre los taiwaneses y, si bien la República Popular China podría pagar parte de la vieja deuda, no pagarían la totalidad o incluso la mayor parte.



Luego está la cuestión de qué pasó con el oro que respaldó los bonos en el primer lugar. Antes de que el KMT cayera, evacuó, por aire y por mar, muchos de sus activos duros de China. TCRLO y los tenedores de bonos sostuvieron que este oro fue la base de los miles de millones del KMT, el llamado oro negro que ha financiado tantas operaciones comerciales y políticas del KMT a lo largo de los años.



El KMT sería reacio a renunciar a sus miles de millones, ahora dispersos entre sus filiales comerciales y bancos, y nunca permitiría una auditoría. Una vez más, el pueblo de Taiwan se vería obligado a aceptar la holgura y dar generosamente para financiar una reconciliación con el PCCh que no necesitan o desean.


 

 


En última instancia, los corredores de bonos deben recibir un rendimiento justo de la RPC, que todavía se beneficia de la infraestructura de los bonos pagados, y del KMT, que aparentemente se fugó con el oro para financiar su propio enriquecimiento. La rehabilitación del legado de Chen es el primer paso en un proceso que esperanzadamente conducirá a la independencia de Taiwán y romperá la parte posterior del enriquecimiento injusto del KMT.



Jonathan Levy es miembro del International Criminal Bar y miembro adjunto de la facultad en el Diplomacy Program de la Universidad de Norwich. El autor representó a los tenedores de bonos y TCRLO en TCRLO v. Kuomintang y también ha representado al ex presidente Chen Shui-bian. Sin embargo, las opiniones expresadas en este documento pueden atribuirse al autor, que habla sólo para sí mismo y no para sus antiguos clientes.



He aquí la interpretación de Cheng Chung Mo del artículo 63
https://es.scribd.com/document/39689208/24-2

Dr. Jonathan Levy
Attorney & Solicitor
Brimstone & Co.
Attorneys & Solicitors
1629 K Street NW Suite 300
Washington DC 20006 USA
Tel/Fax 1-202-318-2406
www.brimstoneandcompany.com
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