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Thread: What's the 2020 October Surprise?

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    United States Avalon Member Savannah's Avatar
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    Default Re: What's the 2020 October Surprise?

    http://https://www.imf.org/en/News/A...n-woods-moment

    This may fit on many threads but I will place it here.

    Cryptoremote viewing group asked if COV19 was cover or excuse for another agenda. He found info on the NOW and then constellations that they could find to point to the time frame that was 10/17/20 and a few days before or after. The Bretton Woods announcement is what they think is behind COVID. So as most of us assumed, that despite the outcome of the election the NOW marches along with their plans. As the months go by I suppose we will see how or if the US resists it or we are dragged in with the rest of the world.

    A New Bretton Woods Moment
    By Kristalina Georgieva, IMF Managing Director
    Washington, DC
    October 15, 2020

    1. Introduction: ‘A sisterhood and brotherhood of humanity’

    I first want to thank Dr. Ernest Kwamina Addison for his excellent remarks and contributions as Chairman of the IMF’s Board of Governors.

    Reflecting on the dramatic change in the world over the last year, I paid a visit to the Bretton Woods, New Hampshire, where 44 men signed our Articles of Agreement in 1944. Our founders faced two massive tasks: to deal with the immediate devastation caused by the War; and to lay the foundation for a more peaceful and prosperous postwar world.

    At the conclusion of the conference John Maynard Keynes captured the significance of international cooperation as hope for the world. “If we can continue…The brotherhood of man will have become more than a phrase", he said.

    As we look forward to welcoming Andorra as our 190th member, the work of the IMF is testament to the values of cooperation and solidarity on which a sisterhood and brotherhood of humanity is built.

    Today we face a new Bretton Woods “moment.” A pandemic that has already cost more than a million lives. An economic calamity that will make the world economy 4.4 % smaller this year and strip an estimated $11 trillion of output by next year. And untold human desperation in the face of huge disruption and rising poverty for the first time in decades.

    Once again, we face two massive tasks: to fight the crisis today— and build a better tomorrow.

    We know what action must be taken right now. A durable economic recovery is only possible if we beat the pandemic. Health measures must remain a priority—I urge you to support production and distribution of effective therapies and vaccines to ensure that all countries have access.

    I also urge you to continue support for workers and businesses until a durable exit from the health crisis.

    We have seen global fiscal actions of $12 trillion. Major central banks have expanded balance sheets by $7.5 trillion. These synchronized measures have prevented the destructive macro-financial feedback we saw in previous crises.

    But almost all countries are still hurting, especially emerging market and developing economies. And while the global banking system entered the crisis with high capital and liquidity buffers, there is a weak tail of banks in many in emerging markets. We must take measures to prevent the build-up of financial risks over the medium term.

    We face what I have called a Long Ascent for the global economy: a climb that will be difficult, uneven, uncertain—and prone to setbacks.

    But it is a climb up. And we will have a chance to address some persistent problems — low productivity, slow growth, high inequalities, a looming climate crisis. We can do better than build back the pre-pandemic world – we can build forward to a world that is more resilient, sustainable, and inclusive.

    We must seize this new Bretton Woods moment.

    2. Building Forward: Three Imperatives

    How? I see three imperatives:

    First, the right economic policies. What was true at Bretton Woods remains true today. Prudent macroeconomic policies and strong institutions are critical for growth, jobs, and improved living standards.

    One size does not fit all—policies must be tailored to individual country needs. Support remains essential for some time—withdrawing it too early risks grave and unwarranted economic harm. The stage of the crisis will determine the appropriate shape of this support, generally broader early on and more targeted as countries begin to recover.

    Strong medium-term frameworks for monetary, fiscal and financial policies, as well as reforms to boost trade, competitiveness and productivity can help create confidence for policy action now while building much-needed resilience for the future.

    That includes keeping a careful watch on risks presented by elevated public debt. We expect 2021 debt levels to go up significantly – to around 125 percent of GDP in advanced economies, 65 percent of GDP in emerging markets; and 50 percent of GDP in low-income countries.

    The Fund is providing debt relief to its poorest members and, with the World Bank, we support extension by the G20 of the Debt Service Suspension Initiative.

    Beyond this, where debt is unsustainable, it should be restructured without delay. We should move towards greater debt transparency and enhanced creditor coordination. I am encouraged by G20 discussions on a Common framework for Sovereign Debt Resolution as well as on our call for improving the architecture for sovereign debt resolution, including private sector participation.

    We are there for our member countries—supporting their policies.

    And policies must be for people —my second imperative.

    To reap the full benefits of sound economic policy, we must invest more in people. That means protecting the vulnerable. It also means boosting human and physical capital to underpin growth and resilience.

    COVID19 has underscored the importance of strong health systems.

    Rising inequality and rapid technological change demand strong education and training systems—to increase opportunity and reduce disparities.

    Accelerating gender equality can be a global game-changer. For the most unequal countries, closing the gender gap could increase GDP by an average of 35 percent.

    And investing in our young people is investing in our future. They need access to health and education, and also access to the internet—because that gives them access to the digital economy – so critical for growth and development in the future.

    Expanding internet access in Sub Saharan Africa by 10 percent of the population could increase real per capita GDP growth by as much as 4 percentage points.

    Digitalization also helps with financial inclusion as a powerful tool to help overcome poverty.

    Just as the pandemic has shown that we can no longer ignore health precautions, we can no longer afford to ignore climate change—my third imperative.

    We focus on climate change because it is macro-critical, posing profound threats to growth and prosperity. It is also people-critical and planet-critical.

    In the last decade, direct damage from climate-related disasters adds up to around $1.3 trillion. If we don’t like this health crisis, we will not like the climate crisis one iota.

    Our research shows that, with the right mix of green investment and higher carbon prices, we can steer toward zero emissions by 2050 and help create millions of new jobs.

    We have an historic opportunity to build a greener world—also a more prosperous and job-rich one. With low interest rates, the right investments today can yield a quadruple dividend tomorrow: avert future losses, spur economic gains, save lives and deliver social and environmental benefits for everyone.

    3. The IMF’s Role

    At the Fund, we are working tirelessly to support a durable recovery— and a resilient future as countries adapt to structural transformations brought on by climate change, digital acceleration and the rise of the knowledge economy.

    Since the pandemic began, we have committed over $100 billion—and we still have substantial resources from our $1 trillion in lending capacity.

    We will continue to pay special attention to the urgent needs of emerging markets and low-income countries—especially small and fragile states, helping them to pay doctors and nurses and protect the most vulnerable people and parts of their economies.

    Our unprecedented action was only possible thanks to our members’ generous support. The doubling of the New Arrangements to Borrow and a new round of bilateral borrowing arrangements preserves this financial firepower. Members have also stepped up with essential contributions to our Catastrophe Containment – and Relief and Poverty Reduction and Growth—Trusts.

    This has allowed us to support our low-income members with debt relief and to triple our concessional lending. We are engaging with members to further boost our concessional lending capacity adapt our lending toolkit and increase support for capacity development.

    IMF staff, working day and night, have been magnificent in this crisis. My sincere thanks to them and my Management team.

    My deep appreciation also to our Executive Directors – they have been there every step of the way over the past six months.

    4. Conclusion: Seize the Moment

    The best memorial we can build to those who have lost their lives in this crisis is, in the words of Keynes, “that bigger thing”— building a more sustainable and equitable world.

    Our founders did it. It is now our turn. This is our moment!

    Now it’s my pleasure to introduce my friend, and great partner to the IMF: President David Malpass of the World Bank Group.

    Last edited by Savannah; 27th October 2020 at 18:09.

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    Default Re: What's the 2020 October Surprise?

    Quote Posted by Gwin Ru (here)
    [...]
    ... well... it sure ain't warming up:

    Adapt 2030 Ice Age Report: Here's why food prices will double then triple, are you ready?

    Adapt 2030
    Fri, 23 Oct 2020 01:14 UTC



    © YouTube/Adapt 2030 (screen capture)
    [...]
    Well, I guess "Nature" granted Lindsey Williams with a "hit":

    Adapt 2030 Ice Age Report: Apocalyptic ice storm slams into Hurricane Zeta

    Adapt 2030
    Wed, 28 Oct 2020 03:52 UTC


    Marquette snowfall © NWS

    With the coldest October temperatures ever recorded in any year smashing thousands of historic all time cold records back to 1879, winter storm Betty is now colliding with the incoming front of Hurricane Zeta. Ice accumulations are forecast up to 1.5 inches in areas across the Midwest USA.
    Sources

    Related:
    Last edited by Gwin Ru; 28th October 2020 at 12:09.

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    Default Re: What's the 2020 October Surprise?

    Pastor Dana Coverstone Dream - Hold Your Breathe - October 26-27 2020 (5:13 min)

    Summary:

    Pastor Dana shares Hold Your Breathe Dream that he had on October 26-27 2020. Most of his dreams relates to current and future world events.

    Thank you all for tuning in to watch this video. Please hit the subscribe button. Pastor Dana has been receiving multiple dreams that are significant and relevant to present and future events in our nation and globally.

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    Europe Avalon Member Lunesoleil's Avatar
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    Default Re: What's the 2020 October Surprise?

    I would like something important to happen, but everyone is masked like at the carnival. Macron returned us to confinement in France from midnight tonight. A mayor in a video refused, a restaurant owner also said no, there are 100 employees, he risks closing his restaurant even if it means going to prison. People are all sheep, where are the wolves ???



    Last edited by Lunesoleil; 29th October 2020 at 18:57.
    initiative * décision * évaluation * réorganisation

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    Finland Avalon Member Arak's Avatar
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    Default Re: What's the 2020 October Surprise?

    I’m not saying there is no ice-age to come, but here in Finland (where it has been always cold and snowy during winters) it is every year warmer than ever. For us it seems like there is no snow anymore every winter in southern parts of the country. Ofc it is possible that the climate shifts so that some parts of the globe will be colder than before and other warmer.

    The big game changer will be eventually when the areas near equator get too hot and dry and people will need to relocate in masses. That is when we see refugee crisises more severe than ever in the recorded history. My wild guess is that this will start to happen in the next 10-20 years, but not in this October... xD
    Last edited by Arak; 29th October 2020 at 21:19.
    Ps. I use Avalon with mobile -> sorry about the typos

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