Global Currency Reset (SDR's and the New Bretton Woods; by JC Collins) [Archive] - Page 2

ThePythonicCow

16th April 2015, 13:47

gripreaper

16th April 2015, 14:12

Brandon's article explains how this fits into the larger scheme of things.

Set up an East versus West monetary conflict.
Crash the world's economies (the age old way - pull back bank credit).
Blame the resulting depression on the monetary conflict.
Throw up all manner of confusions along the way.
Fix the monetary conflict with a global SDR denominated monetary system.

That's pretty much about it, although this next leg of the totalitarian tiptoe wont be a tiptoe at all, but a blindsided tsunami.

Here in Portland Oregon the construction business is booming and people are spending 200-300K on their houses because they don't like the countertops in their kitchens or the color of the tile in their bathrooms. Try to get a seat in a restaurant at peak hours too.

So, why is the downturn not reflected in the upper middle class yet? I know that half of us are feeling it, but when will the other half wake up?

bearcow

17th April 2015, 01:12

As always, recessions (in a debt-money system, such as ours) begin with the banks retracting credit. They lend more and pump things up; they lend less and things retract. This is the way of the Bankster ... their perhaps most powerful means of control.

From "There Are Big, Big Problems" - The Shocker Crushing The Economy Revealed (ZeroHedge) (http://www.zerohedge.com/news/2015-04-13/unseen-recession-shocker-crushing-economy-revealed-credit-rejections-soar-most-ever):

=========

Of course, in a world in which the only economic growth comes as a result of new credit entering the economy (as opposed to Fed reserves being stuck in the S&P), the only thing that matters is how easy it is to get credit into the hands of those who need it. As it turns out it has never been more difficult to get credit.

No really!

According to the CMI, the Rejections of Credit Applications index just crashed the most ever, surpassing even the credit crunch at the peak of the Lehman crisis.

This can be seen on the chart below.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/04/20150413_NACM2_0.jpg
And without any new credit entering the economy, a recession is all but assured.

More details on what may be the most critical and completely underreported indicator for the US economy. The report continues, with such a dire narrative that one wonders how it passed through the US Ministry of Truth's propaganda meter:

By far the most disturbing is the rejection of credit applications as this has fallen from an already weak 48.1 to 42.9. This is credit crunch territory—unseen since the very start of the recession. Suddenly companies are having a very hard time getting credit. The accounts placed for collection reading slipped below 50 with a fall from 50.8 to 49.8 and that suggests that many companies are beyond slow pay and are faltering badly. The disputes category improved very slightly from 48.8 to 49, but is still below 50. This indicates that more companies are in such distress they are not bothering to dispute; they are just trying to survive. The dollar amount beyond terms slipped even deeper into contraction with a reading of 45.5 after a previous reading of 48.4. The dollar amount of customer deductions slipped out of the 50s as it went from 51.8 to 48.7. The only semi-bright spot was that filings for bankruptcies stayed almost the same—going from 55.0 to 55.1. This is the one and only category in the unfavorable list that did not fall into contraction territory and that suggests that there are big, big problems as far as the financial security of these companies are concerned.

=========

The next US recession has begun ... the US banks are pulling back credit. Less lending means less money in circulation, which creates more stress as borrowers cash flows (individuals, businesses and governments) can no longer service existing debt, causing more foreclosures, bankruptcies, repossessions, austerity, ...

With QE ending in the USA last fall and currently starting in Europe, it is also possible Large American banks are moving capital into the Eurozone Markets, trying to stimulate growth there and create the same market conditions that allowed the US equity market to outperform from 20011 to the beginning of 2014. That outflow of captial could cause a credit crunch in the USA. I see this as a more likely scenario because it would seem tactically inept to crash the world markets the same time you are trying to artificially inflate economic growth in the Eurozone.

I dont see a crash coming in the USA, if it goes down it takes everyone else with it. In the end, QE is King, when that party stops is when the world economy will crash. However with Europe, China, and Japan all running some form of QE, I dont see that happening anytime soon.

I dont know if anyone here has noticed, but the Hang Seng Index has gone crazy lately. It is up over 10% in the last month and a half. The Chinese are pumping huge amounts of Capital into it. I dont know what the angle is, maybe they are trying to control the total money flow of the exchange, squeezing out British and American influence.

Time will tell.

ThePythonicCow

17th April 2015, 02:03

I dont see a crash coming in the USA, if it goes down it takes everyone else with it. In the end, QE is King, when that party stops is when the world economy will crash.
QE is the shell game being played with all the toxic paper ... debt paper that won't and can't be paid back. QE has very little to do with the real economy of shoes, loaves of bread and petro.

The time honored way, for centuries, to crash debt-money systems is to stop lending new money into existence. So it shall be again.

awakeningmom

17th April 2015, 03:35

Brandon Smith (one sharp cookie) notes another aspect of this in the above mentioned article (http://www.alt-market.com/articles/2568-one-last-look-at-the-real-economy-before-it-implodes-part-5).

The elite are doing their usual of warning us of a crash, just before it happens, too late for most of us to do much about it.

===========

The elites are preparing for this event, and they are not content only to trigger it then sit back and watch it happen. They also hope to construct a new image for themselves as the prophets who tried to warn the world — the financial “sages” who would be our rescuers.

The criminals are coming into the light, and they are wearing the masks of saviors.

Alan Greenspan (http://www.wsj.com/articles/former-fed-chief-greenspan-worried-about-future-of-monetary-policy-1414597627) is now suddenly a staunch promoter of economic caution, warning that “something big … a significant market event …” is about to happen, and that gold is now a good investment as opposed to the dollar.

Janet Yellen (http://www.zerohedge.com/news/2015-03-27/santelli-stunned-janet-yellen-admits-cash-not-store-value) has openly conceded that cash is not a convenient store of value.

Jamie Dimon (http://www.scribd.com/doc/261340754/JPMC-AR2014-LetterToShareholders) is getting in on the prognosticator action, asserting that another financial crisis is coming.

The IMF now consistently warns of “shadow banking risks” (http://blogs.wsj.com/economics/2015/04/08/imf-warns-again-of-growing-shadow-banking-risks/) bringing disaster to the economic environment.

The World Bank (http://www.cnbc.com/id/101749088) has been polite enough to warn the public that “now is the time to prepare for the next crisis.”

The BIS (http://www.telegraph.co.uk/finance/economics/11162217/BIS-warns-on-violent-reversal-of-global-markets.html) now produces statements on a regular basis predicting a possible “violent reversal of global markets,” just as it conveniently alerted (http://www.telegraph.co.uk/finance/economics/2811081/BIS-warns-of-Great-Depression-dangers-from-credit-spree.html) the public to the possibility of credit collapse in 2007 right before the derivatives crisis.

Literally every elitist and his drunken uncle now publicly discuss the danger of another market crash. That’s a rather stark reversal from a few years ago when recovery was a mainstream absolute, Bernanke was being called a hero, and fiat stimulus was the fountain of youth. How would they know that such an event is coming? They built the conditions by which a collapse is inevitable, and now they want to purify themselves in the waters of Lake Minnetonka and absolve their institutions of all future ugliness.

I would like to point out, though, that banker warnings of volatility and crisis are generally given far too late for average people to act accordingly.
===========

Of course the elite bankers know of the coming crash. They just pulled the trigger on it, by contracting bank lending.

Paul, thank you for putting so much time and effort into trying to educate many of us on these important financial issues. I admit that although I am interested in so many things regarding what's really going on in the world, when it comes to trying to understand what's going on with the Fed, the economy, our fiat currency and the globalist plans for a new currency, etc. I start to shut down and tune out. Math has never been my strong point, and reading about economics/fiscal crises seems too complicated and too "materialistic," something I want desperately to pull away from. I also feel that reading what's happening to our country economically makes me feel incredibly helpless -- as you say, banker warnings of crisis are generally (and intentionally) given far too late for average people to act on it ....

So I guess my question is, what, if anything, can we all do with this information about the intentional ongoing financial collapse? Do we all become preppers? Do we start buying gold (if we can), do we put whatever "money" we have into something other than U.S. dollars? Do we start protests? Form independent communities? It feels like there's nothing to do except continue watching from the sidelines, helpless witnesses to the unfolding collapse of our world. If I'm wrong, please enlighten me.

ThePythonicCow

17th April 2015, 05:03

So I guess my question is, what, if anything, can we all do with this information about the intentional ongoing financial collapse?
The key thing I recommend is to minimize your cash flow needs.

Arrange your life as best you can so that you could get by on the least amount of regular income as practical.

The problem that many middle class Americans (and governments and businesses and other individuals, world wide) will have is the regular required payments for debt, mortgages and taxes don't go away, even if the income goes away or shrinks, or the cost of essentials goes up dramatically.

For example, being in a nice house with a big mortgage is fine, if you have a big income. Lose that big income, and it gets stressful.

That's why a key thing, for many, will be to get out of debt and to minimize required monthly payments such as rent and utilities.

Having something to eat and some way to stay warm (or, if in Texas, cool), even if there is a major crisis for a few months, can also help. Think through how you'd handle such events as ATM's shutting down, losing jobs, empty store shelves, gas stations closed down, and other such potential problems (whether caused by a riot or a hurricane ... either way.) Then from that, do what you can, in your situation, so that you could get by a little bit better. The essentials are not freezing to death and water. The rest is lower priority, but food gets to be a higher priority after a week or two. If you have particular serious medical conditions, then that adds another twist to think about.

But, as someone who has studied math, economics, accounting and finance for over half a century ... it's simply "reduce minimum cash flow requirements ... and have backup water sources."

Just having some idea what's going down, and knowing that "this too shall pass", will go a long way toward putting one in a better frame of mind.

This is not a one time effort. Keep plugging away at it. One doesn't know when or how things will go down. But down they will go, of that I'm pretty sure. Like leading a healthier life style or eating a healthier diet, keep looking for "the next thing" that one can improve, one thing at a time.

P.S. -- I also do my best to stay on good terms with my neighbors, and I indulge in my favorite hobby of buying foreign made electronic and computer gadgets, figuring that their price will someday go up dramatically, as priced in US Dollars.

Alan

17th April 2015, 11:40

Paul, thanks to all your effort on this, truly.

Any thoughts on how to redistribute funds in the 401K to weather the storm?

ThePythonicCow

17th April 2015, 11:52

Ron Mauer Sr

17th April 2015, 12:22

bearcow

17th April 2015, 21:25

Any thoughts on how to redistribute funds in the 401K to weather the storm?
Well ... I took my 401K out, paying the penalties (moving to a state with no income tax to reduce the pain a little), and now own my home (well, cheap trailer, but at least the roof doesn't leak), car and all else I have, including a coin (maybe two) of silver.

Investing 401K's at present is not something I have good answers for. If you can get it into an IRA (might have to change employers) then you could put it in a self-directed IRA and invest in some gold funds, such as Central Fund of Canada (CEF). I did that for a while myself, but it's a long, draw out process. I doubt that most people would have time for that now, before some major changes occur.

Unless your employer is still doing a great job matching your contributions into a 401k, it is a bum deal. Fund Managers dont care about if they outperform the market, they are interested in collecting fees to skim off the top of your investments. Also most 401k's generally have sizable investments in companies that are cornerstones of the agenda most people here not interested in supporting, ie Halliburton, Lockheed Martin, Walmart, Monsanto etc.

Whatever you do, take responsibility for your finances and make your own choices.

ThePythonicCow

18th April 2015, 02:14

Unless your employer is still doing a great job matching your contributions into a 401k, it is a bum deal.
The other time that 401K contributions can make good sense depends on one's tax situation.

For example, I was able to move taxing of a substantial amount of money from when I was a high paid (therefore high Federal income tax bracket) employee in Silicon Valley (California, with its own approx 10% income tax, in addition to the Feds) to when I was retired, living on a Social Security check, in Texas (no state income tax and low or no Fed income tax bracket). That was a huge savings.

Alan

19th April 2015, 12:20

Any thoughts on how to redistribute funds in the 401K to weather the storm?
Well ... I took my 401K out, paying the penalties (moving to a state with no income tax to reduce the pain a little), and now own my home (well, cheap trailer, but at least the roof doesn't leak), car and all else I have, including a coin (maybe two) of silver.

Investing 401K's at present is not something I have good answers for. If you can get it into an IRA (might have to change employers) then you could put it in a self-directed IRA and invest in some gold funds, such as Central Fund of Canada (CEF). I did that for a while myself, but it's a long, draw out process. I doubt that most people would have time for that now, before some major changes occur.

Thanks Paul. My 401K is actually self-directed so I can invest in almost any stock or fund.

I've owned CEF for years and own lots of the PRPFX fund, which models Harry Browne's Permanent Portfolio -- equal parts stocks, bonds, cash and precious metals.

ThePythonicCow

19th April 2015, 19:29

My 401K is actually self-directed
That's a rare beast you have there ... you're lucky.

I've heard of (and owned) self-directed IRA's before, but not 401K's.

ThePythonicCow

21st April 2015, 14:23

The next US recession has begun ... the US banks are pulling back credit. Less lending means less money in circulation, which creates more stress as borrowers cash flows (individuals, businesses and governments) can no longer service existing debt, causing more foreclosures, bankruptcies, repossessions, austerity, ...

This will not be just a US recession. It will be world wide. Of course, it could hardly be anything else, given the global nature of the world's economy, and the weak economies already present in much of Europe, Japan, China and the US.

Here's more evidence that the banksters are even now pulling the credit plug. This is the guaranteed way to start a recession or depression, depending on scale and scope, and this one's the biggest in recorded history, and world wide in scope.

From The Global Liquidity Squeeze Has Begun (http://theeconomiccollapseblog.com/archives/the-global-liquidity-squeeze-has-begun):

The total amount of global debt has risen by $35 trillion since the last crisis [2008].
Also from The Global Liquidity Squeeze Has Begun (http://theeconomiccollapseblog.com/archives/the-global-liquidity-squeeze-has-begun):

Chinese authorities announced a ban on certain types of financing for margin trades on over-the-counter stocks [This is exactly how the Banksters started the Great Depression in the US in 1929 - pulling back lending for speculating in the stock market on margin. -- Paul]
Also from The Global Liquidity Squeeze Has Begun (http://theeconomiccollapseblog.com/archives/the-global-liquidity-squeeze-has-begun):

IMF Managing Director Christine Lagarde ... denied any payment delay to Greece on IMF loans falling due next month. [IMF stops lending to Greece. -- Paul]

From Stunned Greeks React To Initial Capital Controls And The "Decree To Confiscate Reserves" (ZeroHedge) (http://www.zerohedge.com/news/2015-04-20/stunned-greeks-react-initial-capital-controls-and-decree-confiscate-reserves-and-the):

[Greece confiscated all bank balances of its local cities and governments. -- Paul]

From Get Ready For The Biggest Margin Call In History (ZeroHedge) (http://www.zerohedge.com/news/2015-04-20/steen-jakobsen-get-ready-biggest-margin-call-history):

Chief Investment Officer of Saxo Bank ... predicts the Federal Reserve will indeed start to raise rates later this year. [Unlike private speculation on margin, as seen in the US in 1929 and in China now, the main investors in the US stock market now are big banks, using near zero percent loans from the Federal Reserve. Different mechanism, same result. The lender stops lending, the music stops, the market crashes, the economy crashes too. -- Paul.]

From Chinese Economic Outlook "Skewed Heavily To The Downside" (ZeroHedge) (http://www.zerohedge.com/news/2015-04-20/chinese-economic-outlook-skewed-heavily-downside-bnp-says):

[China's industrial, rail, iron ore, steel, and concrete growth ceasing, turning down. -- Paul]
From Builders Beggar Belief As Lumber Liquidation Looms (ZeroHedge) (http://www.zerohedge.com/news/2015-04-20/builders-beggar-belief-lumber-liquidation-looms):

[US lumber prices collapsing, a strong leading indicator of a collapse in home construction. -- Paul.]

From 7 Signs China's Economy Is Headed For Collapse (Harry S. Dent) (http://seekingalpha.com/article/2224063-7-signs-chinas-economy-is-headed-for-collapse):

I have been warning for years that the greatest - and final - bubble to burst, in this century of bubbles, would be China. Now that cracks in the great red dragon's economy are widening, it's time to prepare for the worst.
...
China has massively overbuilt everything: industrial capacity, housing, offices, malls, infrastructure, you name it.
From IMF tells regulators to brace for global 'liquidity shock' (The UK Telegraph) (http://www.telegraph.co.uk/finance/economics/11538509/IMF-tells-regulators-to-brace-for-global-liquidity-shock.html):

An illusion of liquidity has beguiled financial markets across the world and spawned some of the worst excesses seen on Wall Street in modern times, the International Monetary Fund has warned.

Investors are borrowing money to buy shares on the US stockmarket at a torrid pace and are resorting to the same sorts of financial engineering that preceded the last two financial crises.

"Margin debt as a percentage of market capitalisation remains higher than it was during the late-1990s stock market bubble. The increasing use of margin debt is occurring in an environment of declining liquidity," said the IMF in its Global Financial Stability Report.

===

There are several ways that the Banksters can deliberately crash economies. They all follow the same pattern - extend too much debt, and then cut off the flow of easy money needed to pay the debt.

What's been going on since 2008 is the first phase - extending too much debt - another $35 trillion worth, on top of an already massive pile of debt, world wide, by governments, businesses, and individuals.

Now the second phase has begun: Banks are cutting credit, such as documented above in the US, Greece and China.
Interest rates will soon go up, cutting off easy money, such as the Fed's funding of the US stock market, via big banks.
Debt payments are becoming more difficult, as most world debt must be paid in US Dollars, and US Dollars are getting scarce.
Real Estate prices will collapse, especially in China, home of the largest real estate bubble in history. This leaves borrowers under water and unable to sell or make payments.
Investments, insurance policies, bank accounts, pensions and other reserves and savings will collapse or be confiscated.
Social benefits and government hiring will be cut back. Austerity will be imposed in many nations.
Businesses will pull back, laying off, reducing expenses.
Desperate governments, such as Greece this week, will confiscate money from local governments, pension funds, and citizens.
Prices for essentials such as food, water and electricity will rise.
Governments will increase taxes, fees, fines and tariffs.
This is a coordinated, world wide, Great Depression being kicked off, deliberately. All the major central banks, and "the central bank of central banks", the BIS, are coordinating this.

===

In the first Great Depression, it was gold that was being phased out, world wide. FDR confiscated it from Americans. Japan stole it from the Chins. Germany stole it from the rest of Europe. The US then stole it from the Japanese and Germans. Gold is now being used as a token to help sell China on their participation in this multi-decade plan, but that gold will turn out to be worth little more than the trillions of US Treasury notes that China accepted in earlier years for all their exports. It's a giant game, and neither you, nor I, nor the central banks of China or the US, decide what chips the game will be played with next.

In this coming Great Depression, I anticipate that it will the US Dollar that is phased out. Within the US, the current Dollar, a Federal Reserve Note, whether in bank accounts or held as cash, will be exchanged for US Treasury Notes, initially one for one. But those US Treasury Notes will lose value rapidly in world trade, inflating US domestic prices of almost everything. US Treasury debt will be exchanged for SDR denominated debt, world wide. The new US Treasury Notes will not be "greenbacks", printed as needed, nor will they be gold backed, like some currencies of the past. They will be tied into the debt-money based system denominated in SDR's ... the new world wide basis of all national and regional currencies.

I doubt that gold will ever skyrocket to the thousands of US Dollars per ounce that the goldbugs are anticipating, because we're not headed back to a real gold backed monetary system. Gold might handle the transition from a US Dollar Reserve system to an SDR denominated system better than US Federal Reserve Notes, but it will be like escaping in a leaky row boat when your ship is sinking, in a storm ... a risky proposition either way. Gold is no longer the dominate monetary basis ... it's little more than the metal of which the king's crown is crafted.

Debt money is, has been, and will continue to be, the world monetary basis. The Banksters are consolidating their control, by moving the reserve currency, in which all other debt is directly or indirectly denominated, from the pesky North American colonies (the US), to ithe institutions that they more directly control, the Bank of International Settlements (BIS) and associated institutions such as the International Monetary Fund (IMF), World Bank, the Asian Development Bank (ADB), and China's new Asian Infrastructure Investment Bank (AIIB).

ThePythonicCow

21st April 2015, 15:18

From Stunned Greeks React To Initial Capital Controls And The "Decree To Confiscate Reserves" (ZeroHedge) (http://www.zerohedge.com/news/2015-04-20/stunned-greeks-react-initial-capital-controls-and-decree-confiscate-reserves-and-the):

[Greece confiscated all bank balances of its local cities and governments. -- Paul]

Martin Armstrong has a more clearly presented post on this event, at Greece Seizing Country’s Public Funds – Here We Go! (http://armstrongeconomics.com/2015/04/20/greece-seizing-all-public-funds-in-country-here-we-go/):

Now the Greek government issued a decree that forces local governments to transfer all cash balances to the central bank, as debt to the International Monetary Fund and salaries are due. This is crazy. Greece should default before it creates its own civil war. You just can’t do this sort of thing to the people.

We are heading into a situation of total economic insanity. Boy, maybe I should have retired and hid on some remote beach.

TargeT

24th April 2015, 15:07

this seems to fit....

Europerspective:
y1OnDgBNlRU

TargeT

25th April 2015, 00:28

Well, this is an interesting move...

Major Greek bank, Bank of Piraeus, to wipe debts of poorest clients
ATHENS: One of Greece's largest banks is to wipe away the debts of clients who owe up to 20,000 euros ($21,600) in a one-off gesture to ease the burden on its crisis-hit customers.

The Bank of Piraeus decided to write off or restructure debts in response to the "humanitarian crisis" through which its poorest clients were living, the company said in a statement.

Debts of up to 20,000 euros linked to credit cards and consumer loans would be written off completely, it said, while ..

http://economictimes.indiatimes.com/articleshow/47038168.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

granted it has a few restrictions, but what is the point of that move; just completely undercut the euro??

ThePythonicCow

25th April 2015, 14:21

Well, this is an interesting move...

Major Greek bank, Bank of Piraeus, to wipe debts of poorest clients

granted it has a few restrictions, but what is the point of that move; just completely undercut the euro??
Well, a couple of likely effects of such a move would be to:

reduce public protests in the streets, and
increase willingness of private citizens to take on more debt.

Both of these effects might be seen as useful to the bastards in power.

ThePythonicCow

27th April 2015, 08:14

Bill Holter makes a key point in the first half of this interview with Greg Hunter, while discussing Greece.
QR9NAim3Ke4
Greek bonds are held by major European banks as tier one capital, valued at 100% of their face value.

If (When) Greece defaults, the banks will have to write down that portion of their capital, to whatever Greece could actually pay, say 30% or 50%. That will leave a gaping hole in the balance sheets of major European banks, and they will have to call in loans, and quit issuing new loans, in order to avoid totally collapsing in bankruptcy.

It is a near certainty that a bank, if given the choice between (1) retracting credit (calling in loans, closing lines of credit and not issuing new loans), or (2) going bankrupt themselves, will retract credit.

To reinforce the point I have been making in several posts now ... the prime and immediate cause of the greatest economic collapses, in our debt money civilization, is great retractions in credit by the banks.

ThePythonicCow

27th April 2015, 11:41

Another marker of "peak debt" can be found in Carmody's explanation for the closing of some WalMart stores: Why Walmarts Are Closing World Wide -- Post #15 (http://projectavalon.net/forum4/showthread.php?81798-Why-Walmarts-Are-Closing-World-Wide&p=956306#post956306).

ThePythonicCow

27th April 2015, 18:00

Ring-a-ring o' rosies
Pocket full of posies
A'Tishoo A'Tishoo
We all fall down (http://www.phrases.org.uk/meanings/ring-a-ring-of-roses.html)

Notice that, unlike the previous dot-com bust in 2001, or the mortgage bust in 2008, when each time only one index was peaking very high, this time all the major indicies (mortgages, tech stocks, junk bonds and major stocks) are all peaking very high after years of continually rising.

This will not end well, and the crash will be more broad scale than the previous crashes.

From Bill Holter of Miles Franklin, THEY ALL CAN SEE IT…! (http://blog.milesfranklin.com/they-all-can-see-it):

=======

We showed you chart a yesterday suggesting markets are grossly overvalued, to me it is obvious and self explanatory.

http://blog.milesfranklin.com/wp-content/upLoads/2015/03/b14.jpg
To make the point even more stark, take a gander at this chart of the “high yield” index.

http://blog.milesfranklin.com/wp-content/upLoads/2015/03/b21.jpg
For those who don’t know, it is proper to replace the words “high yield” with “junk bonds”. These are THE most risky, lowest rated credits there are and have soared as investors have chased yield. Does this look like a bubble to you? Has your broker suggested this arena as a way to “diversify” or to strive for added yield …safely? Do you think the smart money is chasing these blindly?

...
No, what we have coming is a collapse of everything we have worked for and everything we have built and saved over our own lifetimes and that of our ancestors. All of our financial markets are connected and none will be spared. Another aspect is ALL foreign markets and their economies are tied together with everyone else’s …you could say “we are the world”! Nothing will be left unaffected. The only thing you need to know and understand is this, gold has always been money and always ultimately seen to be the most liquid safe haven on God’s green Earth. Man has never before in history been involved in a more dangerous and all engulfing mania based on a Ponzi scheme. It matters not when nor how it ends because it will end …badly What matters is how you are positioned when it does!
=======

ThePythonicCow

9th May 2015, 19:34

It has seemed obvious to me, and has been pointed out to me in several things that I read, that China too will soon fall on hard economic times. China's debt is internal, not national government debt owed to foreign banks or nations. But their debt is still immense, as are their enormous bubbles in real estate, infrastructure and manufacturing. These debt and malinvestment bubbles all depend on continued growth in exports of finished goods to other nations. These bubbles are guaranteed to burst, once other nations are importing less.

That time has arrived. From Global Demand for Chinese Goods Sinks, Chinese Leaders ‘Caught Off Guard by Sharpness of Downturn’ (http://wolfstreet.com/2015/05/08/china-exports-imports-plunge-china-containerized-freight-index-ccfi-hits-multi-year-low-leaders-caught-off-guard-by-sharpness-of-downturn/): "China’s General Administration of Customs announced that imports had plunged 16.2% in April from a year ago"

More from that same article:
Manufacturing and export economies, like China, import commodities and export manufactured goods. The plunge in imports is an all-around terrible reflection of demand in China, despite the still relatively glorious and most likely illusory 7% GDP growth bandied about by the government.

But the slowdown in exports is a sign of slowing demand in other parts of the world, particularly in Europe, where the purposeful devaluation of the euro is sinking in. Tough times ahead, not only for China.

ThePythonicCow

9th May 2015, 20:11

For those who prefer graphs to words, from here (http://wolfstreet.com/2015/05/08/china-exports-imports-plunge-china-containerized-freight-index-ccfi-hits-multi-year-low-leaders-caught-off-guard-by-sharpness-of-downturn/) and here (http://wolfstreet.com/2015/05/09/christine-hughes-wild-week-in-bond-markets-moved-everything-else/):

~~~

Shipping out of China has fallen dramatically in the last two months:

http://wolfstreet.com/wp-content/uploads/2015/05/China-Containerized-Freight-Index2015-05-08.png

~~~

The US Dollar has started falling dramatically in the last month:

http://thepythoniccow.us/US_Dollar_Falling.jpg

~~~

The Dollar price of crude oil has started rising dramatically in the last month:

http://thepythoniccow.us/Crude_Oil_Rising.jpg

ThePythonicCow

9th May 2015, 21:19

The following graph (adapted from [url=http://govtslaves.info/the-next-94-days-could-be-bad-for-your-wallet/]here[/url) is just for the US, but reflects what is actually a global problem - the rise in total debt far in excess of economic growth. We (humans) owe (the Banksters) far in excess of what we have now or might create in the forseeable future.

The dates on the following graph span from 1950 onward. The graph shows both the US debt (owed by anyone in the US) and the (much smaller) US Federal Government debt, comparing it to the "GDP" (Gross Domestic Product, a US Dollar measure of annual economic activity, whether productive or not, despite the acronym).

http://thepythoniccow.us/debt-more-debt-and-GDP.jpg

What cannot continue forever ... won't.

ThePythonicCow

21st May 2015, 00:35

Both the ideas that banks should not lend in excess of deposits, and the idea that banks should not lend in excess of what is backed by stores of gold and silver, are confusions, placebos.

Both these ideas hide the essential reality of money.

The essential reality of money is delayed gratification, and the essential reality of debt is delayed confiscation.

Imagine the following two scenarios to get what I mean.

First scenario: You and a few others were recently ship wrecked on an isolated island. You are out of reach of civilization, with no hope of being found, and running out of food salvaged from the ship. It is an island of sand dunes and rocks. All will die soon of starvation. There is no "future". No one would trade a million pounds (whether British currency or refined gold bars) for their last slice of bread, for there is no hope of any future, even five minutes from now, when that currency or gold will purchase anything whatsoever.

Second scenario: Planet Nibiru turns out to be real. Everyone can see it in the sky, approaching earth. Pretty much everyone knows and agrees that in 71 hours, planet earth will be destroyed in the collision. No one will take any currency or gold, in any amount, for anything in return, unless they expect to be able to spend that currency or gold within the next 71 hours. The value of money goes to absolute zero at that time.

Money is what you accept in exchange for some real good or service that you can provide, with the expectation that in the future you be able to "spend" that money, for something else of "similar" value. That future might be in five minutes, when you expect to get to a store, or it might be in fifty years, when you might want to assist your grandchild to pay for college.

The notions of "reserve lending" (don' lend what you, as a bank, have not received in deposits, or don't lend more than 10 times that amount, or whatever), and the notions of "backing of a currency", whether with precious metals or with government bonds (which are liens on the future tax revenues collected from a nation's people) serve various purposes:

Such notions serve to confuse the essential use and purpose of money and debt.
Such notions attempt to control the issuance of money, so that whatever central government or central bank we authorize to issue money is constrained from issuing enough money to buy the world and control us all.
The appearance of such notions attempt to placate the concerns of the citizenry, who are told that the central bank or government cannot "print money to buy it all", because of these alleged constraints on their issuance of money.

The units of money (dollars, euros, yen, yuan, ...) are the units by which we, in this civilization, measure the value of goods and services, abstracted away from any particular item. "Everything has its price."

The money itself, whether paper in one's wallet or credits in some bank account, is valued for its future potential to obtain goods and services (which value went to zero in the above two scenarios.)

Debt is a future claim to someone else's money (or a future claim on their property or labor, absent the money), and is only as good as the ability of the lender, thanks to either the lender's superior power, or to the debtor's honesty and solvency, to collect that future claim.

Whosoever, in this civilization, controls the issuance of money, cares not who is King or Queen, nor who is elected to Parliament. The issuer of our money buys and sells the armies, governments, courts, media, universities, energy, food and technology, on which all else that can be bought or sold, on this planet, in this plane of existence, in our present civilization, depends or is controlled.

===

We are entering a shift in what is the best known, most widely recognized and accepted, monetary unit, from the US Dollar, to some globalized abstraction controlled by whomever is behind such institutions as the BIS, IMF, and Asian Infrastructure Investment Bank (AIIB). Globalist controllers will control both the relative value of the various national or regional currencies and will continue to control the central banks issuing those several currencies.

The common unit of monetary control will be SDR's or some next generation variant thereof, but the "face" of this common unit as seen by the ordinary person will be Yen if you are in Tokyo, or Dollars in New York, or Pounds in London, or Ruble in Moscow, or Yuan in Beijing. Whether it will be Deutsche Marks or Euros in Berlin remains to be seen (at least from the perspective of us ordinary, uninformed, citizenry.)

===

I say the above not because I am confident that I am right (more often than not, I'm wrong in some essential way), nor because I hope that the above occurs (I don't.)

ThePythonicCow

21st May 2015, 00:53

In order to force us to accept the above transition from the US Dollar to SDR relative national currencies, and in order to provide numerous opportunities for those with the best advanced data collection and intelligence to extract more pounds of flesh from humanity and more tons of resources from planet earth, our global economic, financial, ecological, monetary, and governing institutions are being driven into a climatic crisis.

The promises of social services and retirement fundings, the issuance of debt, and securities based on that debt, and derivatives based on those securities, are all being deliberately hyper-extended, in order to create the largest possible disruptions when they collapse. Promises exceed potential to an exponentially increasing amount. This is by design, or at least to the potential benefit of whomever can best ride out the coming storm, which will be of epic proportion.

I have a half-baked metaphor for this that I've been mulling over. I imagine money to be like helium balloons, providing a generalized means of lifting and transporting. So long as there is some sensible proportion between what is to be lifted and what helium balloons are sent aloft, the balloons are useful. But when enough balloons are formed to lift everything on the face of the earth high into the sky, it can be anticipated that things will soon come crashing down again. The balloon fillers have been working over time the last few decades. Expect a hard landing.

ThePythonicCow

21st May 2015, 07:35

The essential reality of money is delayed gratification, and the essential reality of debt is delayed confiscation.
... and the essential reality of interest on debt is that it is a useful mechanism to create boom and bust cycles.

When most money is lent into existence in exchange for interest bearing debt, this promises exponentially increasing returns in the future. These promises must eventually fail, when they exceed any inherent growth in the available goods and services.

This creates the inherent instability in the monetary system that is at the core of Babylonian money magic, which has been an important means of control of human civilization for many millenia now. Promise more and more until the promises fail catastrophically ... rinse and repeat.

If you are the driver of such a scheme, knowing how it works, able to monitor its state, and able to manipulate and to adapt ahead of time to the shifting times, then you stand to acquire immense power.

The word "Capitalism" has taken on a second meaning, to confuse this matter.

The primary meaning of "capitalism" is economic encouragement of improvements to the means of production. For example, rather than laboring to mill by hand the wheat for a few loaves of bread , instead spend that labor building a water mill so that more loaves may be made in the future for the same effort. These improved means of production become one's "capital" investment.

The second meaning of capitalism is the financial encouragement of investing savings in interest bearing debt, with the promise of greater returns in the future.
Other mechanisms, in addition to issuing most money against interest bearing debt, have been used by the bastards in power on this planet to create and amplify boom and bust cycles. Such mechanisms include the easing and contracting of such lending itself, and when money was more closely tied to precious metals, the expansion and contraction of the supply of such metals.

One recent example of such easing is the liars loans and NINJA loans issued to fuel the boom in mortgage lending in several Western nations in the previous decade. That lending was subsequently tightened, and that bubble partially collapsed, before being inflated even further by other means, such as "Quantitative Easing" (QE) and "Zero Interest Rate Policy" (ZIRP), in the present.

Another common mechanism for pumping boom and bust cycles is changing the "margin rate" in financial investment markets, which is how much collateral one must put up to trade a particular type of investment on borrowed money. This may mean little to those who have not have the "pleasure" of working with larger investment portfolios, but those who have might notice a change sooner than most, by noticing when such margin rates change, just as a sailor might recall the adage "red in the morning, sailors take warning; red at night, sailors delight." Many a major stock market collapse was preceded by a sharp and unexpected increase in a few key margin rates.

Yet another mechanism for destabilizing the financial/economic/monetary system (to the benefit of the bastards riding the waves) is socialism ... the ever increasing promises of social benefits to the populace, until the promises collapse. In the US, Social Security (retirement funding), Medicare and Obamacare are examples of such promises, the inevitable failures of which will lead to grievous stresses on the American society.

But the fundamental mechanism for introducing instability into the monetary system is charging interest on the debt against which (using "double entry bookkeeping") almost all money is issued.

Double entry bookkeeping was supposedly invented by the Venetian bankers, to track handling of the wealth of those going off on Crusades, but probably such a tool dates back much further, to the times of Babylon ... and is a distinguishing and critical tool used to implement Babylonian money magic ... which I prefer to call simply "debt-money."

Interest bearing debt is not necessarily and always destabilizing. In small and limited applications, where other non-interest bearing sources of money exist, then interest bearing debt can be repaid, with interest, and without incurring an ever increasing debt burden. But when essentially all money is lent into existence against interest bearing debt paper, these safety margins are inevitably exceeded.

Calz

21st May 2015, 08:27

Latest from Ken for those interested ...

__________________________

The NWO Schedule of Implementation (Mod 1)

The new update of my NWO Schedule of Implementation page…

Here is the current Schedule of Implementation for the multilateral/multipolar New World Order as best as I can discern it at this time. As we go forward, I will add more details and supporting material to this page and will modify the timeline as I detect changes in globalist preparatory propaganda.

[Mod 1 – 20 May 2015]

First Half of 2015:

> June 4-18: There will be a notable economic downturn which could be set in motion by either a Greek default or a Federal Reserve interest rate hike (the Greek default seems the more likely candidate). The economic situation will grow worse as we approach September and may be accompanied by increasing war rumors and false-flag terror attacks (of both the real and the “crisis actor” varieties). Bank bail-ins and other measures to harvest the public’s wealth may be implemented in the following months.

> June 16-17: The Federal Reserve’s Federal Open Market Committee (FOMC) will meet. If they choose to raise interest rates at this time, it would be a double-whammy (along with the likely Greek default) on the financial system.

Second Half of 2015:

> July 8-9: During this, the 7th month of the year, the BRICS will hold their 7th Summit meeting in Russia. They will likely announce the launch of the New Development Bank (the BRICS Bank) at that time, and Greece will seek membership and aid for the restarting of their economy.

> September 4-5: The G20 finance ministers and central bank governors will meet. Given the economic turmoil taking place, they will stress the critical urgency of moving past the US’ obstruction of IMF quota reform as soon as possible. Later actions and inactions by the Federal Reserve and Congress will be seen as cementing the G20’s arguments.

> September 16-17: The FOMC will meet again. Should they raise interest rates at this meeting, it could create a New Lehman Moment by triggering defaults in financial institutions already weakened (according to the public version of their books) by the likely Greek default in June. Such a sharp crisis would provide the perfect segue for the Pope and UN to step forward to “save the day.”

> September 22: The Pope will arrive in Washington, D.C. to covertly and symbolically remove the crown of world leadership from the US for its transfer to the UN. He will arrive in the evening to signify the end of “America’s Day,” and the Fall Equinox will occur during that night. So when the Pope visits Obama on the 23rd, this can be said: “The Fall (of the ‘American Empire’) begins the day the Pope visits the White House.” He will also speak before a joint session of Congress that day.

Why is it significant that he arrives on the 22nd? “22″ is a Masonic “Master Number” and “because of its great power, the number 22 may result in outstanding ascendancy or disastrous downfall,” according to the numerologically-inclined. Here is the Pope’s itinerary.

> September 25: On the third day after his arrival in Washington, the Pope will speak before the United Nations to covertly and symbolically crown it with world leadership…

much more:

http://redefininggod.com/2015/05/the-nwo-schedule-of-implementation-mod-1/

mgray

21st May 2015, 11:00

TrumanCash

21st May 2015, 15:08

I don't know if anyone has reported this but Goldman's chief equity strategist David Kostin recently stated that "the market will rise to 2150 by mid-year but fade after the Fed raises interest rates in September for the first time in nine years." [Source (http://www.zerohedge.com/news/2015-05-16/what-goldman-telling-its-clients-sell-may-and-dont-come-back-one-year)]

Interesting that Lindsey Williams was told that when the Fed raises interest rates the derivatives bubble will begin to collapse.

ThePythonicCow

21st May 2015, 21:02

Latest from Ken for those interested ...

__________________________

...
> September 25: On the third day after his arrival in Washington, the Pope will speak before the United Nations to covertly and symbolically crown it with world leadership…

much more:

http://redefininggod.com/2015/05/the-nwo-schedule-of-implementation-mod-1/

Yes - more - ending with this Addendum, added today:

=======

[Addendum 1 – 21 May 2015]

Confirmed: The BRICS Bank launches in July

I’ve been pretty much out of commission for the past several weeks, so I missed a lot of news. Upon doing some catch-up reading, though, I’ve found confirmation that the New Development Bank is indeed slated for launch in July. Here is an excerpt from the Google translation of this RIA Novosti article (http://ria.ru/economy/20150415/1058668826.html#ixzz3XNMi6W00)…
=======

Rather than include just an excerpt of the RIA article as Ken did in his The NWO Schedule of Implementation (Addendum 1 – Confirmed: The BRICS Bank launches in July) (http://redefininggod.com/2015/05/the-nwo-schedule-of-implementation-mod-1/) post, I post below the entire English translation of that RIA article, as was posted at the link that Ken provided: BRICS New Development Bank to start operations in July (in.rbth.com - Russia & India Report) (http://in.rbth.com/news/2015/04/15/brics_new_development_bank_to_start_operations_in_july_42633.html):

=======

15/04/2015 RIA Novosti

------------------------------------------------------------

“Russia has fulfilled its part of the work required to create the New Development Bank of BRICS. It is assumed that the entire formation process of this new institution will be completed by the group’s summer summit this July in Ufa.” – this was announced on Wednesday at a press conference in MIA Russia Today by Dmitry Kurochkin, Vice President of the Chamber of Commerce and Industry of the Russian Federation.

“Before the bank can start operating, practically all member states must first ratify the agreement. As for Russia, the State Duma ratified the agreement on the establishment of the New Development Bank this February, and the corresponding law on the ratification of the Agreement on the New Development Bank was signed by the Russian President on March 9, so we have, in principle, done all that was needed on our part,” said Mr. Kurochkin.

He added that according to the information he had, India has also ratified the agreement on the establishment of the bank.

“It is expected that, given the ratification processes currently underway in the other three countries, this process should be completed by the middle of this year, that is, just in time for the next BRICS Summit in July,” he added.

The final agreement on the establishment of the BRICS Bank was signed in June 2014, in the Brazilian city of Fortaleza. The Bank will become a major multilateral development institution with announced capital of $100 billion. It is being created to finance infrastructure projects in the BRICS countries as well as developing countries.

BRICS – is an informal interstate association of Brazil, Russia, India, China, and South Africa. The total population of the BRICS countries is 2.83 billion people (42% of the world population). BRICS countries occupy 26% of the earth’s land mass, and their total GDP reaches $15.435 billion, accounting for 14.6% of the global GDP.

First published in Russian by RIA Novosti (http://ria.ru/economy/20150415/1058668826.html#ixzz3XNMi6W00).

=======

ThePythonicCow

21st May 2015, 21:21

... and the essential reality of interest on debt is that it is a useful mechanism to create boom and bust cycles.
... and by such means as, the debt itself,
the interest on the debt (promising to return more than borrowed),
the seizure, foreclosure or repossession of the property or future income used to secure the debt if (when) it cannot be repaid, and
the controlled boom and bust cycles that first inflate the debt beyond all possibility of repayment and then insure that repayment fails,seize control of the physical resources, human labor and the products of that labor, of this fine planet, including this planet's living resources, its rich plant, animal and human genetic material, and the wonderfully rich psychic, spiritual, emotional and intellectual products of humanity.

Of course, other means are used as well, and other energies are tapped into, at diverse levels. But the above Babylonian money magic is one of the long standing foundational means by which humanity has been controlled and its energy tapped, for at least many thousands of years now.

gripreaper

22nd May 2015, 04:18

What appears to be lining up, is the NWO cashless global central bank will launch, the Pope will usher in the New World with ritual, and then we all get to be fully indentured slaves in a digitized system which narrowly allows only certain behaviors, which are monitored 24/7, and if we do not fully submit to the slave system, then our access to credit and debt will be cut off and we will not be able to operate in commerce, and will be brought before the ecclesiastical tribunal, fined, punished and made to do penance!

And most will welcome this new twist on the old world order with enthusiasm and open arms. What a world we live in.

TrumanCash

22nd May 2015, 13:52

Interesting how the Pope may tie into all of this. I am wondering if the recent mysterious trumpet sounds in the sky (http://www.infowars.com/what-is-causing-the-strange-trumpet-sounds-in-the-sky-all-over-the-world/) have anything to do with this. ETs and their earthbound "controllers" have used religious manipulation to control the masses since time immemorial.

It appears to be reflected in US Code, Title 42, Section 666 (http://www.healthfreedom.info/mark_of_the_beast.htm), which basically makes it very difficult to function in the modern world (e.g., buy and sell) without your (social security) number. There are probably similar "laws" in other countries that require a personal number to conduct business. It appears that they are intentionally implementing Biblical prophecy via the Bar Association.

Once cash is eliminated it is a done deal.

TLC

ThePythonicCow

22nd May 2015, 22:22

Once cash is eliminated it is a done deal.
My hunch is that the "War on Cash" is a bit of a red herring. Many, more substantial, infringements to our liberty will continue to be imposed, while what we fear, what gets the attention of the buzz-word compliant fear mongering alternative media press, will remain forever one step away from being finally and totally imposed ... or if not forever ... least for so long that it won't matter, for we will have lost so many other freedoms that cash will be of no more use to us than it was to prisoners in the Soviet Gulags (pick your favorite tyranny - I don't mean to claim that only the Russians can be evil.)

One key underlying theme seems to be a dire need of the bastards in power to monitor humanity. Control begins with measurement. They are quite determined, it seems, to transition humanity to one-world government, religion, money, and (in)justice, supporting a high technology, space-faring race. To do that, they have to monitor us like a Bible thumping morally strict father (again, pick your favorite, in this case, religion) might try to monitor his wild and rebellious adolescent child.

The "one-world" part might be an essential part of our future ... but I don't accept one world tyrannized by the same bastards who have been in charge here, at least since the time of Babylon.

naste.de.lumina

22nd May 2015, 22:40

The "one-world" part might be an essential part of our future ... but I don't accept one world tyrannized by the same bastards who have been in charge here, at least since the time of Babylon.

We have to remove the moon or Saturn my friend - dna frequency. The moon appears to be less difficult.

ThePythonicCow

24th May 2015, 05:52

The following was originally posted as part of a (slightly) larger post at "The Protocols of the Elders of Zion" -- and a call for a more benevolent leadership -- Post #12 (http://projectavalon.net/forum4/showthread.php?82417-The-Protocols-of-the-Elders-of-Zion-and-a-call-for-a-more-benevolent-leadership&p=963624&viewfull=1#post963624).

=====

Jim Willie is out with his monthly newsletter and the usual round of audio interviews he does just after posting the newsletter. He continues to be the one I find most credible.

One of his interviews this month can be found at Bonus Hangout with Jim Willie from GoldenJackass.com (BeyondBitcoin.org) (https://beyondbitcoin.org/bonus-hangout-with-jim-willie-from-goldenjackass-com/). I am listening to it now ... it's long (2 hours) and varies from chit-chat to brilliant. Hopefully I will get a chance to write it up for the Avalon forum.

However ... one of the points that Jim Willie drives home, again, is that the Chinese are driving some serious reforms on this planet, and the Western elite Banksters, including Rothschilds, Rockefellers, Bushes, Neocon-Zionist-Nazi's, ...) are bargaining for their very lives and to avoid jail and (relative, from their perspective) poverty.

As I was listening to part of that interview, I recalled an ancient bit of Chinese history. The Chinese already, centuries ago, rejected paper currencies, after their emperors abused such one too many times. Now, for the last couple of centuries, the Western elite, funded by the debt-money financed (paper money) Banksters, have been pissing on China, from the Opium Wars to the Japanese invasion of the 1930's, to the Korean and Vietnam wars, to HAARP caused droughts in China, to nasty virus outbreaks underneath the flight paths of British Airways flights, to the massive pollution of Japan and the Pacific Ocean with Fukushima, to the attempted theft of some ancient Chinese gold stored in London to finance the Euro, ... and on and on and on. China has a long history and a long memory.

The Chinese will gladly get rid of the Western Banksters debt-money system, just as they did their emperors paper money systems, centuries ago. And they are doing that, now, as we speak. We will see the return of gold backed trade notes and of substantially less corrupt financial markets and institutions. (Given how massively corrupt the Western systems have become, that still leaves a fair bit of room for some under the table dealings <grin>.)

Real progress on kicking the worst of the Western Bankster bastards out is being made, here and now.

Note, also, from the very evidence visible in the Protocols of the Elders of the Zions historical document, the Western Banksters, such as the Rothschilds, did not so heavily dominate Western civilization and the Euro-Anglo-American empires until later in the 1800's. The long standing European royalty and their various empires, such as the German, Austria, Hungary, French and Spanish, were real and competing centers of power, which the Rothschilds and Bankster associates successfully sought to control, through money lending to fund corruption and wars, during the 1800's. That's the context in which these Protocols were written, in the view of Miles Mathis, and I still agree with that analysis.

I am not saying that all will be light and bliss ... but I am saying that the Rothschild, Rockefeller, Bush, Neocon-Zionist-Nazist, ... crowd will end up having dominated humanity for less than two centuries, when all is said and done.

Moreover, I am saying that I expect to see this happen, with major events obvious to most observers in this year or next, and substantial resolution visible to all but the blind within a few years.

=====

I repost the above here because it reflects a key bit of additional insight (well, hopefully so) to my understanding of this global currency reset.

The Chinese are of a mind set to remove debt-money (paper fiat currency) that has been harming them for centuries. This will not be the first time the Chinese have done so.

From a five year old Daily Bell article, Depression 2010 - Western Fiat-Money Finished? (https://therearenosunglasses.wordpress.com/2010/02/11/depression-2010-western-fiat-money-finished/):

Our argument, voiced with various levels of clarity at various times, is that the West is currently living through a failure of fiat money – specifically a failure of the global anchor currency: the greenback. The dollar is on its way out not because people want it to be necessarily (though some do) but simply because it is failing as a fiat currency. Central bank fiat currencies always fail. China had a number of fiat episodes and the populace was so scarred that fiat money was reportedly even banned in the 1800s.
There is more history of Chinese currency at the above Daily Bell article. It's a good read, as are many Daily Bell articles.

The Chinese are not just pawns of the Rothschilds.

Yes, there are likely powerful alien influences on all of humanity's history and present civilization. Yes, the current Chinese economy is more or less as deeply mal-invested and deeply in debt as Western economies. Yes, the Anglo-American empire has had great and sometimes rather devastating effects on China over the last couple of centuries.

Still, however, in my view, the tide of great influence on the capitalist investment and on the dominant financial, monetary, trade, economic and political structures of this planet's civilization is shifting towards China and towards the European-Asian continent.

This shifting tide is not so much because the Chinese are overwhelmingly superior, as a people or as a nation or as a present economy. But they are persistent, they have a long history, and the current Anglo-American empire is collapsing under the weight of its own vast corruption, immorality and dishonesty.

Dennis Leahy

24th May 2015, 13:41

idiit

24th May 2015, 14:26

re ^ paul's # 287 post:excellent post imo. :)

idiit

24th May 2015, 14:43

"fiat money" seems to sometimes shift in definition between "unbacked paper* money" and "unbacked paper* money created by debt using fractional reserve." It would be good for my understanding of financial topics (especially global finances) to know which definition is being used, and where.

*(the word "paper" itself is used to denote something that is not a useful, 3-Dimensional commodity like gold, platinum, silver, land, food, ... and may be numbers in a computer ledger, never having been printed on paper at all

fiat currency is not money. fiat is mandated legal tender. fiat is created out of debt ( usually bonds), not in itself an actual asset as debt can never be truly classified as an asset.

most fiat nowadays is not paper. it's digits created on a computer screen. it costs 50 cents to create each frn. on a computer screen they virtually conjure up $trillions of federal reserve notes at 0 production cost.

almost no one knows what real money is anymore ( outside the pm markets). the terms money and even paper are used far too loosely. even pm specialists make the mistake of calling federal reserve notes dollars; dollars were partially backed by real pm.

gripreaper

25th May 2015, 01:27

Let’s step back from the canvas a bit further.

In the last 80 years or so, since World War 11 ended, all of the G20 nations agreed to the Federal Reserve fiat system of credits and debits. All of them gave over their tangibles as collateral to support the central bank system, and it is my opinion that this global agreement was partially based on the Bilderberg agreements to pool the world’s resources together and build the new infrastructure based on the technology which came out of the Nazi Bell.

The amounts of global capital which we saw go into building the overt military industrial complex pales in comparison to the amounts of capital which went into the covert operations, and the amount of natural and human resources harvested for these endeavors is staggering.

What the G20 nations got in return for most of this infrastructure, was a huge pile of debt leveraged into future generations, and a pile of worthless derivatives. The tangibles are sitting in this huge war machine we all built and profited from. All of the municipal and retirement money we think we have set aside in the last 50 years has been looted and is leveraged into the war machine. We are all complicit in holding this structure together out of fear of losing our retirements. We got these retirements through the ill gotten gains of building the war infrastructure and the covert systems.

So, although there are vestiges of the old “Nation/State”, as Paul has pointed out, that China has a long, long history, and may be the only existing nation state which still has enough global clout to go against the global system, it may be too late. What the BRICSAS are really saying is that they want their money back (tangibles) and they don’t like how the capital was ultimately invested in the last 80 years and where the tangibles actually ended up, but Mr. global may be way too big and way too ingrained to come to the table at this point and accept such a claim. The technology is far too powerful and covert to bring this into the light of day.

I don’t subscribe to the notion that this global power structure, being bantered about as some western neocon Rockefeller Bush/versus BRIC structure, is under any type of duress globally by any fledgling Nation/State, or global alliance. This idea totally misses the mark on the global map. The big money came out of the oil cartels, and Standard Oil was one of the big beneficiaries of this major shift in the last 100 years. The wealth created from oil and wars in the last century is staggering and immeasurable and it IS in the hands of the globalists who have NO nation/state affiliations. This wealth is almost on par with the wealth created by the Rothchild's and the monarch families in the last 1000 years.

The entire financial system is backed by this petrodollar, although oil is a consumable and must continue to be produced and distributed in sufficient quantities to keep the global industrial machine of commerce moving, as well as act as collateral for the financial system. Oil is the commodity which can fuel commerce or bring it to its knees. The globalists hold this chess piece on the grand chess board. The only thing which can circumvent this power would be free energy of the nature to which Wade Frazier speaks of.

If we bring in the context of off world interests, this brings in a whole other layer of possibility. This is a very grey area that most of us can only speculate, although it has many of the hallmarks of making sense. This thread of an idea appears to have its root thousands of years into earth’s history and culture, and should not be ignored when looking at the global picture and what Mr. global is up to, ergo, the ”Breakaway Civilization”. China, being the oldest culture on the planet, should be well aware of this angle.

Many feel that preparations have been underway and that earth has been harvested for some kind of cataclysmic event, as the accelerated pace of preparations in the last 80 years has been exponential. We see far too many clues that something major is afoot, and that we are not privy to the full story, and that the global agreements made in the last 80 years are not reflected in the current Nation/State news we are being fed to believe. I smell a rat, and I’m not convinced that Jim Willie has got it right.

I don’t see the benevolence in the BRIC alliance, and I still see the tentacles of the globalists and their agendas and their secrecy abounding in both sides of the dialectic.

URIKORN

25th May 2015, 02:45

idiit

25th May 2015, 14:27

The entire financial system is backed by this petrodollar

^ huge imminent changes. Obama was publically snubbed at the last Mideast oil summit he recently attended.

The Saudis just went nuclear on their Obama snub
Business Insider
By Pamela Engel
May 14, 2015 12:45 PM

http://finance.yahoo.com/news/saudi-obama-rift-keeps-getting-162612938.html

the underpinnings of the petrodollar are being rapidly dismantled. mideastern oil countries are en route to accepting other currencies in exchange for oil. the imf is broke; the usa hasn't made a payment in over 2 years. china has stepped in to help partially fund the bankrupt imf. the imf is agreeing to recognize the yuan ( aka renminbi ) as an internationally accepted currency in exchange for chin's much needed funding. due to the risk of currency devaluations sovereign nations will soon start issuing their debt ( sovereign bonds) in yuan as a hedge against their own currency being devalued. this will result in these nations selling usa treasuries ( back to sender) to generate revenues to purchase yuan based bonds and currency. china has already established 30 yuan trading hubs around the world facilitating trade with brics nations in yuan.

until now almost all international transactions and petroleum purchases were mandated $frn/us t bills/bonds transactions.

once china and Russia declare the new gold backed currency and gold backed letters of international credit the usa won't be able to fund their fiscal debt ( aprox. 50% of usa federal expenses are debt, not irs revenues). what's America going to do after they lose 50% of their (mine too since I'm American) funding source ( debt)? even now the fed is purchasing up to 60% of all usa bond issuance. when no one wants us$/us treasuries America will have to live off half their current gdp irs revenues.

lots of speculation that America's fort knox gold is leased out ( stolen by wall street) at o% interest rates and re-smelted in the east into .9999 ( that's 4 9's) metric bars. no way to trace ownership after that. America's deep storage gold is actually unmined ore. no one will treat that as 'bird in the hand' refined gold bullion. America will have to come up with some form of collateral to purchase gold backed currency to exchange for imports. America imports close to half what she consumes. daunting task, indeed.

it will be an issue of which currency/which system will be trusted. the brics is already a 130+ country consortium. it will be about the perceived integrity of the system/currency, not which individual country we trust.






.

^ http://finance.yahoo.com/news/saudi-obama-rift-keeps-getting-162612938.html

ThePythonicCow

25th May 2015, 23:29

We would like to think that the chinese are more sane and descent.
I've little doubt that they have their own unfortunate attributes.

Just because they don't have the particular problems that the Western elite have doesn't mean that they won't have their own, which may well ripen over time to a similarly high degree of rot.

Still, the present rot needs a bit of cleaning out ... or at a minimum replacing with new rot.

Flash

26th May 2015, 01:50

Morbid

26th May 2015, 03:17

http://delphicoracle.weebly.com/cobra-conference-part-5.html

Joe Akulis

27th May 2015, 13:01

Chinese, American, Russian. Until they do like Wade says and put grandmothers in charge, or at least make it so that only the grandmothers can vote for elected officials, then we'll always be screwing things up. :-)

Radi

18th June 2015, 08:09

M1 ? global currency reset ? http://60secondmillionaire.tv/the-plan/

http://www.youtube.com/watch?v=-A93mLlSWuw

http://www.youtube.com/watch?v=Z2BZ7vWeHS0

Eric J (Viking)

19th October 2015, 18:16

This seems to be floating around...

: FROM S3

FAST ADDITIONAL:

NOW THAT THE ROYALS, ELDERS, REGULATORS, VATICAN, G20, ETC HAVE APPROVED AND SIGNED OFF ON THE RELEASES THAT ARE TO COME IN THE NEXT DAYS, THE RVCOMPONENT MAY ACTUALLY GO LIVE. IF SO, THEN THE PPP AND SOME OTHER ELEMENTS WILL KICK IN. THE GLOBAL TRUST THAT IS BEHIND ALL THIS IS ATTHE READY WITH FUNDS LOADED AND PREPARED FOR THE MASSIVE PAYOUTS TO COME, AND THAT WAS CONFIRMED TO ME PERSONALLY. THE SOFTWARE WAS DEBUGGED AND IS WORKING. TOMORROW AND THE NEXT DAY WILL SAY IT ALL AS THE FREEZE IS LIFTED OFFICIALLY. THE BLOGS ARE GOING TO HAVE MUCH FUN NOW. CAN I GO SOMEWHERE WARM WITH BLUE WATERS NOW?

LOVE AND LIGHT

IN OUR SERVICE

ZAP

AND MORE CORROBORATION FROM ANOTHER PATH BELOW

RV Intel - Sat PM - 10.17.15

-WORLD GOVERNMENTS MONITORING ON AN HOUR BY HOUR CHANGE SCENARIO NOW.

- HISTORIC BOND TRADE PLATFORMS & GLOBAL MARKETS STILL LINKING-UP TO MAINFRAME COMPUTERS IN FINAL PREPARATIONS FOR GLOBAL PAYOUTS.

- ALL BONDS TO BE UNFROZEN OR UNLOCKED, WHICH BEGINS THE RELEASE OF ALL FUNDING IN A SHOTGUN START FASHION.

- MAJOR MARKETS WORLDWIDE ARE NOW IN SYNC AND ARE SCHEDULED TO GO LIVE TOGETHER (MONDAY IN EUROPE, US; TUESDAY IN FAR & MIDDLE EAST).

- NYPD STILL ON HIGH ALERT THROUGH THIS TUESDAY; MOBILIZATION FORCES OPERATING AT IMMiNENT THREAT LEVEL THIS EVENING.

- EXECUTIVE LEVEL CABAL ARRESTS BEING PREPARED, WITH SOME WELL KNOWN CABAL MEMBERS ALREADY UNDER HOUSE ARREST.

- WHITE HAT US ARMED FORCES BACK IN CHARGE OF USG, WITH REPUBLIC ARMED FORCES RUMORED TO BE MAKING KEY ARRESTS.

- RV CURRENCY ROLL OUT STRATEGY IS FULLY UNDERWAY, WITH GROUP REDEMPTIONS (LIQUIDITY) FORTHCOMING AT ANY MOMENT.

- ANTICIPATE A SILENT RELEASE, WITH NO MAJOR OR PUBLIC ANNOUNCEMENT BY ANY MASS MEDIA OUTLET.

- REDEMPTION PARTICIPANTS ASKED TO REMAIN CALM WITH "GO BAG" STANDING BY.

Viking

ThePythonicCow

23rd November 2015, 15:19

The Federal Reserve (US Fed) is holding an emergency session today, announced at the end of last week. If they raise any of the rates they control, this would be a surprise move, and it would go down in history as marking the beginning of the Greater Depression, worse than the 1930's.

Some nations, such as Venezuela, Greece, the Ukraine, or Brazil, would soon default on their debt, unable to meet payments in the more precious US Dollars in which their debt is denominated. This would cause the failure of some major Western banks, and be used to justify major central government programs, reminiscent of Franklin Delano Roosevelt's "New Deal", in many nations, including China, whose economy deeply depends on the ability of other nations to import their manufactured goods.

Already, in just the last three weeks, the cost to ship a container from China to Europe, on the spot market, has dropped 70%. The Baltic Dry Index (BDI), a measure of the cost to ship bulk raw materials such as iron ore or coal, over the oceans, has dropped to its lowest level ever since it began being reported, in 1985.

From the perspective of a rational Fed policy, seeking what's best for the US and the Dollar, raising any rates right now would be insanity. From the perspective of some of the bastards in power, seeking to rapidly escalate economic and monetary panic, any such raise in rates could be a "brilliant" move. We will learn in a few hours whether those bastards, or the best interests of America, control the Fed.

Given the above very recent and very rapid deterioration in the world economic situation, if the bastards in power want the Fed to be the scape goat for this coming world economic depression, they might have to hurry up and have the Fed make their monumental mistake very soon.

TargeT

23rd November 2015, 15:34

Given the above very recent and very rapid deterioration in the world economic situation, if the bastards in power want the Fed to be the scape goat for this coming world economic depression, they might have to hurry up and have the Fed make their monumental mistake very soon.

My prediction: interest rates stay at zero, the cake isn't baked fully yet.

but who knows... I'd be very shocked if rates were hiked, there's just absolutely no way they could make a move like that with and still justify it as NOT being an economic attack on the US economy.

ThePythonicCow

23rd November 2015, 16:06

I'd be very shocked if rates were hiked, there's just absolutely no way they could make a move like that with and still justify it as NOT being an economic attack on the US economy.
None of the forecasters I follow are even considering the possibility of a surprise rate hike right now, and yes, anyone who has two clues to rub together on this subject would consider any such rate hike to be such an attack.

On the other hand, John Q Six Pack Public would not make that connection, and would have long forgotten the raise, when the collapse came back around to bite them in the arse, a few weeks later. And we can rely on the main stream media not to help the public make any such connection, if that is their mandate.

ThePythonicCow

23rd November 2015, 16:10

TargeT

23rd November 2015, 16:19

Eventually however, the bastards may well want John Q Six Pack Public to "blame the Fed" ... the Fed may well have reached its "Sell By Date", to be replaced by something that will better "safeguard the world wide economic and monetary system".

this will have to happen, I used to think perhaps the Fed failing would be the first domino, but now I'm inclined to think it will be the last... the "hope crusher" as the rest of the world declines and finally the dominante Amerikan dollar implodes (Problem) causing mistrust in any "national" run currency & of course lots of "panic" (Reaction) then the IMF or possibly "new" creation (doubtful) will become the new global "federal reserve" and all the pre-written legislation (Solution) will pop out FAR too soon to be realistic (but no one will care) and the media will spin it as the bestest thing evar!

If the Paris situation taught nothing else, it's that these guy's use basically the same cheap tricks over and over.

the "grey state" is a great documentary that covers this "collapse" topic

zjN8q9eM_-s

ThePythonicCow

23rd November 2015, 17:03

this will have to happen, I used to think perhaps the Fed failing would be the first domino, but now I'm inclined to think it will be the last... the "hope crusher" as the rest of the world declines and finally the dominante Amerikan dollar implodes
I agree that the US Dollar and the Fed will be more or less the last thing to fall. Nothing the Fed does today will change that.

If the Fed did raise rates today (and I am the only one foolish enough to even consider that possibility), that would strengthen the US Dollar in the short term ... making Dollars more difficult to obtain, thus hastening the collapse of weaker nations trying to make payments on Dollar denominated debt.

ThePythonicCow

23rd November 2015, 23:06

Yawwwn ... two hours ago, the US Federal Reserve (the Fed) released the following letter, responding publicly to an open letter to the Fed issued three weeks ago by Ralph Nader and Guy Vidal:

=== The news article explaining Janet Yellen's response letter: ===

==========

Monday, November 23, 2015 - 16:00 -- By Karen Mracek

Fed Chair Yellen: Hopes, Expects Economy Will Cont to Expand

--Letter to Ralph Nader and Guy Vidal, Released By Fed
--Yellen, Colleagues Expect Normalization to Be Gradual

WASHINGTON (MNI) - Federal Reserve Chair Janet Yellen said Monday she and her colleagues hope and expect the economy will continue to expand and if that is the case, it will be appropriate to raise interest rates.

"Most of us expect the pace of that normalization to be gradual," Yellen said in a letter to Ralph Nader and Guy Vidal, which was released by the Federal Reserve.

Nader penned an open letter to Yellen Oct. 30, calling on the policymaking Federal Open Market Committee to raise the fed funds rate off the zero lower bound where it has been since December 2008.

He wrote on behalf of "humble savers in traditional bank savings and money market accounts who are frustrated because, like millions of other Americans over the past six years, we are getting near zero interest."

Yellen acknowledged the concern saying in the letter, "My colleagues and I are very well aware that many savers are frustrated by the very low returns their savings earn - and that this has caused hardship for some of them, particularly seniors on fixed incomes."

These low returns, "to be sure, are partly a reflection of the Federal Reserve's monetary policy," she writes. "But, more fundamentally, the low returns are caused by the continuing aftermath of the financial crisis and the severe recession that followed it."

She defended the FOMC's actions since the recession saying "the fundamental remedy for low returns to savers is a restoring the economy to prosperity so that it can support higher returns."

==========

=== The actual response letter from Janet Yellen: ===

==========

Monday, November 23, 2015 - 16:02

Yellen Letter to Ralph Nader - Text

WASHINGTON (MNI) - The following is the text of a letter sent by Federal Reserve Chair Janet Yellen to Ralph Nader, published Monday:

Thank you for your recent letter. My colleagues and I are very well aware that many savers are frustrated by the very low returns their savings earn--and that this has caused hardship for some of them, particularly seniors on fixed incomes. These low returns, to be sure, are partly a reflection of the Federal Reserve's monetary policy. But, more fundamentally, the low returns are caused by the continuing aftermath of the financial crisis and the severe recession that followed it. Thus, the fundamental remedy for low returns to savers is a restoring the economy to prosperity so that it can support higher returns. That has been and continues to be our goal, in keeping with the objectives assigned to us by the Congress: maximum employment and price stability.

It may help to review a few basic facts. In 2007 and 2008, the world faced the most severe financial crisis since the Great Depression. The unemployment rate in the ensuing economic downturn climbed to 10 percent in the United States. In response, the Federal Reserve acted forcefully--reducing short-term interest rates to near zero and helping lower longer-term rates, including mortgage rates, to historically low levels. These lower borrowing costs for millions of American families and businesses helped support asset prices - including home prices and, as you note, stock prices. More importantly, by making large consumer purchases more affordable and encouraging businesses to invest, low interest rates supported the economic recovery and the creation of millions of jobs. Indeed, the most recently reported unemployment rate, 5 percent, underscores the progress we have seen. Americans generally have benefited, most particularly lower- and middle-income people affected disproportionately during the downturn.

==========

I over estimated the Fed. It takes them three weeks and an emergency meeting to come up with this drivel? Unbelievable!

If you're desperate, there's more to the above Fed response, at here (MarketNews.com) (https://www.marketnews.com/content/fed-chair-yellen-hopes-expects-economy-will-cont-expand) and here (MarketNews.com) (https://www.marketnews.com/content/yellen-letter-ralph-nader-text).

ThePythonicCow

23rd November 2015, 23:40

This other Fed news, also from a couple hours ago, may be closer to the actual substance of what the Fed met to discuss today:

From Business Recorder (http://www.brecorder.com/business-a-finance/banking-a-finance/263245-us-federal-reserve-awards-$1446bn-reverse-repos.html):

==========

Tuesday, 24 November 2015 01:41, Posted by Shoaib-ur-Rehman Siddiqui

US Federal Reserve awards $144.6bn reverse repos

NEW YORK: The Federal Reserve on Monday awarded $144.6 billion of overnight fixed-rate reverse repurchase agreements to 50 bidders at an interest rate of 0.05 percent, the New York Fed said on its website. This was the biggest award since Oct. 30, when the Fed awarded $225.33 billion to 79 bidders at the same rate.

On Friday, the Fed had allotted $122.99 billion in three-day reverse repos to 50 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent. The overnight interest rate in the repurchase agreement, or repo, market was last quoted at 0.05 to 0.09 percent, compared with 0.09 percent on Friday, according to ICAP.

In the repo market, money funds and other investors make short-term loans to banks and Wall Street dealers, which pledge Treasuries and other securities as collateral.

==========

This is the Fed loaning (at essentially zero interest, and perhaps with little or no collateral, despite claims to the contrary) an unusually large amount to (presumably desperate) inside financial institutions.

The Fed is acting like a pawn shop in a neighborhood controlled by the Mafia. If the Mafia boss sends in a couple of his thugs to pawn some valuables for some cash that's needed right away, and the thugs claim that they "left the valuables at the boss's home, but the boss is good for it", then the pawn shop will likely cough up the requested cash, and not ask questions.

Here we have the big banks that own the Fed extorting some more cash from the Fed's "infinitely expandable" balance sheet.

===

What's most likely to cause this giant house of cards and rehypothecated securitized leveraged debt and derivatives thereof to collapse is the default of some emerging nations.

Nations that depend on selling raw resources, such as gas, oil and copper, are getting squeezed three ways from Sunday. The manufacturing nations such as China are buying less, the prices they are paying per ton or barrel for whatever they do buy is collapsing, and the US Dollars needed to make payments on most of the debt they hold is becoming increasingly scarce, as the Dollar rises, rises and rises some more (a Jim Willie forecast for the last couple of years.)

It would be like losing your full time job and getting instead a half time job that pays half as much per hour, while your landlord doubles the rent. Some people can struggle through such a triple whammy and still pay the rent, but some (*) won't. Similary some emerging markets won't, and hence some of the main holders of national and major corporation debt, the Wall Street banks, will be left bankrupt, with a Federal Government that won't bail them out this time.

It is this sort of stress that is forcing the Fed to issue increasing amounts of Reverse Repo's, to keep the game going a little while longer.

---

(*) Some won't ... especially those who are already in debt for an amount substantially greater than their former annual income, which is exactly where some emerging market nations, such as Venezuela, Brazil, the Ukraine, Indonesia, the Philippines, and Greece, are.

ThePythonicCow

24th November 2015, 01:42

Meanwhile, as the old regime is set to collapse (see previous post), the new regime is starting to take shape.

The International Monetary Fund (IMF) chief Christine Lagarde announced a week ago that, based on a staff report to the IMF board, she is recommending the inclusion of the Chinese yuan or renminbi (RMB) in the Special Drawing Right (SDR) currency basket.

The recommendation paves the way for the Fund's executive board, which has the final say, to place the yuan CNY on a par with the U.S. dollar DXY, Japanese yen JPY, British pound GBP and euro EUR at a meeting scheduled for Nov. 30.

If approved this month by the IMF board, then the Yuan would be added to the SDR basket in October 2016, during China's leadership of the Group of 20 bloc of advanced and emerging economies.

When this happens, expect many nations to rebalance their reserve assets, selling some of the bonds, especially US Treasury debt, they currently hold, in exchange for some Chinese Yuan denominated debt.

See further:

China's yuan takes leap toward joining IMF currency basket (Reuters) (http://www.reuters.com/article/2015/11/14/us-imf-china-yuan-idUSKCN0T22OC20151114)
IMF Greenlights Addition Of Chinese Yuan To SDR Basket: Wall Street Responds (Zerohedge) (http://www.zerohedge.com/news/2015-11-15/imf-greenlights-addition-chinese-yuan-sdr-basket-wall-street-responds)

TargeT

24th November 2015, 03:36

"the fundamental remedy for low returns to savers is a restoring the economy to prosperity so that it can support higher returns."

Did she just say the remedy for low savings rates is to spend money so the economy (and interest rates) recovers so it's viable to save again?

Classic...

mgray

24th November 2015, 04:11

ThePythonicCow

30th November 2015, 18:24

Worth it's own thread, but closely related to this thread as well: China’s Renminbi Is Approved as a Main World Currency (http://projectavalon.net/forum4/showthread.php?87169-China--s-Renminbi-Is-Approved-as-a-Main-World-Currency).

Cidersomerset

1st December 2015, 21:31

If this is inappropriate feel free to delete , but I thought it was very good....and
Max is not to irritating on this one especially the second half. You won't agree
with all of it but it is a unique take from the financial world.

------------------------------------------------------------------------------

Keiser Report: Moar War (E843)

bM4D3sy_-YU

Published on 1 Dec 2015

Check Keiser Report website for more: http://www.maxkeiser.com/

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss MOAR war as
stock prices soar for defense contractors and the CIA gets involved in environmental activism
as we sacrifice our freedoms so that nobody has reason to hate us while we play naked Twister.
In the second half, Max interviews journalist and author Nick Kochan about ISIS - the most well
financed terrorist organization ever. They look at the cash and dowry from Saddam’s treasury
which sustains the terrorist group.

WATCH all Keiser Report shows here:

TODD & NORA

2nd December 2015, 01:56

..........

Morbid

2nd December 2015, 11:23

TargeT

2nd December 2015, 12:49

the war in cyberspace is fully on between states, corporations and selected interest groups. i believe that its a matter of time until a 'certain' hacking group would be placed on the same threat level as well known terrorists. with another might claim to protect us..

http://d.ibtimes.co.uk/en/full/1427093/anonymous-isis-bitcoin-opisis.jpg?w=736

I think that is exactly why they were created (Problem) we are now seeing an attempt at forcing the public to care about "virtual" terrorism (and god, wouldn't THAT be awesome for TPTB.. running the same Hegelian dialectic but all virtual!). Globally our leaders are pushing fear of encryption (hoping for a Reaction), and state puppets (ISIS/ISIL) are suddenly publicly using the internet in sophisticated ways. The outcome is already planned, we see hints of it in the TTP (which is being forced globally); control of the internet (Solution). At least, more control than there is now.

It's a multi front attack right now, Economic, Military & Informational arenas are all engaged.

ThePythonicCow

3rd December 2015, 01:39

.
From the Australian Herald Sun China blamed for ‘massive’ cyber attack on Bureau of Meteorology supercomputer (http://www.heraldsun.com.au/technology/china-blamed-for-massive-cyber-attack-on-bureau-of-meteorology-supercomputer/news-story/b5b4e62c5f945a1f2ebeae2b790d7546?nk=216cb867f9640fd1d33df2a58e2c0f61-1449106507):

=========

THE Bureau of Meteorology has had its sensitive systems compromised by a major cyber attack being blamed on China.

The ABC reports the breach is “massive”, with the bureau owning one of the country’s largest supercomputers.

Its systems have a link to the Department of Defence at Russell Offices in Canberra, the report says.

The cost of fixing the breach has not been determined, and the time needed to repair it is also unclear.

The weather bureau’s services are vital in warning of weather conditions associated with bushfires, thunderstorms, tropical cyclones, flooding, rain, and dangerous winds.

They are also essential to the economic livelihood of the nation, assisting the construction, resources, agriculture and marine industries and those who keep our international trade routes open.

=========

ThePythonicCow

3rd December 2015, 08:44

From perhaps my second most favorite analyst, Brandon Smith, comes this excellent article describing the current state of progress toward a world monetary system, in light of the IMF announcement that the Chinese Renminbi will be included in the SDR basket.

=========

The Fall Of America Signals The Rise Of The New World Order (http://www.alt-market.com/articles/2753-the-fall-of-america-signals-the-rise-of-the-new-world-order)

Wednesday, 02 December 2015 03:53 Brandon Smith

Here is where many political and economic analysts go terribly wrong in their examination of current global paradigms: They tend to blindly believe the mainstream narrative rather than taking into account conflicting actions and statements by political and financial leaders. Even in the liberty movement, composed of some of the most skeptical and media savvy people on planet Earth, the cancers of assumption and bias often take hold.
...
The liberty movement is infatuated with the presumption that the U.S. government and the banking elites surrounding it are at the “top” of the new world order pyramid and are “clamoring for survival” as the U.S. economy crumbles under the facade of false government and central banking statistics. How many times have we heard over the past year alone that the Federal Reserve has “backed itself into a corner” or policy directed itself “between a rock and a hard place?”
...
In “Ruling The World Of Money,” (http://www.edwardjayepstein.com/archived/moneyclub.htm) Harper’s Magazine established what Quigley admitted in “Tragedy And Hope” — that the control of the global economic policy and, by extension, political policy is dominated by a select few elites, namely through the unaccountable institutional framework of the BIS.

The U.S. and the Federal Reserve are mere tentacles of the great vampire squid that is the new world order. And being a tentacle makes one, to a certain extent, expendable, if the trade will result in even greater centralization of power.

The delusion that some people within the liberty movement are under is that the fall of America will result in the fall of the new world order. In reality, the fall of America is a necessary step towards the RISE of the new world order. The Rothschild-owned financial magazine The Economist reaffirmed this trend of economic “harmonization” in its 1988 article “Get Ready For A World Currency By 2018,” (https://socioecohistory.wordpress.com/2014/07/26/flashback-1988-get-ready-for-a-world-currency-by-2018%E2%80%B3-the-economist-magazine/) which described the creation of a global currency called the “Phoenix” over three decades:

"The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF. The world inflation rate — and hence, within narrow margins, each national inflation rate — would be in its charge. Each country could use taxes and public spending to offset temporary falls in demand, but it would have to borrow rather than print money to finance its budget deficit. With no recourse to the inflation tax, governments and their creditors would be forced to judge their borrowing and lending plans more carefully than they do today. This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case."...
China is set to be inducted into the SDR basket in 2015, with specific economic changes to be made by September 2016, a development I have been warning about for years. The "vote" is in and the decision has been finalized.
...
The addition of China to the SDR, I believe, is the next trigger event for the continuing removal of the dollar as the world reserve currency. The monetary shift may explode with speed if Saudi Arabia follows through with a possible plan to depeg from the dollar, effectively ending the petrodollar status the U.S. has enjoyed for decades.
...
Putin continues to press the “U.S. as bumbling villain” narrative, while at the same time supporting globalist institutions and the internationalization of economic and political governance.
...
The Chinese support the same agenda (http://abcnews.go.com/Business/story?id=7168919) of an IMF managed economic world.
...
It is rather interesting how the desires of the BRICS seem to directly coincide with the designs of international bankers. This Hegelian dialectic is perhaps the most elaborate public distraction of all time, with the ultimate solution to the artificially engineered problem being a single “multilateral” but centrally dictated world economic system and world government, i.e., the new world order.
...
If you cannot understand why it seems that the Federal Reserve and U.S. government appear hell-bent on self-destruction, then perhaps you should consider the facts and motivations at hand. Then, you’ll realize it is THEIR JOB to destroy America, not save America. When you are finally willing to accept this reality, every disastrous development since the inception of the Fed a century ago, as well as all that is about to happen in the next few years, makes perfect sense.

This is not to say that the ultimate endgame of the new world order will result in victory. But the cold, hard, concrete evidence shows that internationalists do have a plan; they are implementing that plan systematically; and all major governments around the world are participating in that plan. This plan involves the inevitable collapse and reformation of America into a Third World enclave, a goal that is nearly complete, as I will outline in my next article.
...

=========

The above are just excerpts. The entire article is available at The Fall Of America Signals The Rise Of The New World Order (http://www.alt-market.com/articles/2753-the-fall-of-america-signals-the-rise-of-the-new-world-order).

When the two best analysts I know, Jim Willie and Brandon Smith, as well as one I knew less, the JC Collins in this thread's title, are all saying the same thing, consistently for years, and consistent with unfolding events, I take notice.

The US Dollar hegemony is being replaced by a global monetary system and hegemony, and the US is being relegated to a third world nation ... much lower living standards.

The next anticipated event - Saudi Arabia and allies announce they are accepting oil payments in Chinese Yuan. This will be a key event in the decline and fall of the US Petro-Dollar, though it may pass unnoticed for a while longer by the average "man on the street."

Also expect extreme stress on some major Western banks, due to

deep stress from failing oil fracking debt and covering oil hedges,
defaulting debt of some emerging market nations, and
a Possible Cyber Attack on Major Banks (http://projectavalon.net/forum4/showthread.php?87075-Possible-Cyber-Attack-on-Major-Banks).

Some major banks are already on life support, receiving about a trillion dollars a month in transfusions, in the form of reverse repos issued by the Fed, without proper collateral.

TargeT

3rd December 2015, 19:57

Interesting tie in....

Dow plunges triple digits, Nasdaq off 2% as Street weighs hike timing

U.S. stocks declined more than 1.5 percent Thursday as traders were worried the Fed would hike rates while the economy is too weak. ( Tweet This )

Investors also weighed disappointment over the level of stimulus in the euro zone after the European Central Bank's decision.

"I think the market's a little bit more focused on the Fed moving on rates and the pace going forward. ... Additional rate hikes may be coming and the economy really isn't that strong but for some reason the Fed thinks it is, all because of the jobs number," said Robert Pavlik, chief market strategist at Boston Private Wealth.

The S&P 500 fell more than 1 percent afternoon trade, falling back into negative territory for the year in intraday trade. Health care fell 2 percent to lead all 10 sectors lower.

The Dow Jones industrial average briefly fell more than 300 points, while the Nasdaq composite traded more than 2 percent lower. Apple declined 1.6 percent.

Traders also said markets were still on edge over the latest news surrounding Wednesday's shooting in San Bernardino, California. The motive in the killings was unclear.

Treasury yields held higher, with the 2-year yield near 0.99 percent and the 10-year yield around 2.33 percent as of 2:40p.m., ET.

http://www.cnbc.com/2015/12/03/us-markets.html

Pound Headed to 30-Year Low for Deutsche Bank as Risks Multiply (http://www.bloomberg.com/news/articles/2015-12-03/pound-headed-to-30-year-low-for-deutsche-bank-as-risks-multiply)

ThePythonicCow

4th December 2015, 04:59

Also expect extreme stress on some major Western banks, due to

deep stress from failing oil fracking debt and covering oil hedges,
defaulting debt of some emerging market nations, and
a Possible Cyber Attack on Major Banks (http://projectavalon.net/forum4/showthread.php?87075-Possible-Cyber-Attack-on-Major-Banks).

Some major banks are already on life support, receiving about a trillion dollars a month in transfusions, in the form of reverse repos issued by the Fed, without proper collateral.

When I list the stresses on some major Western Banks, as I did above, something became clearer to me.

A "modern" debt-based monetary system, such as the Petro-Dollar, requires three elements:

Debt owed
Debt collectible
Cash flow

Some major cash flow generators, in the case of the Petro-Dollar (should be called the Petro-Narco-Dollar), the two biggest cash flow generators are petroleum and narcotics. These major cash flows, and a thousand bazillion lesser and secondary cash flows, make payments on debt owed by individuals, businesses and political entities (nations, cities, ...) world-wide.

The collectible debt, an upside down pyramid based on the US Treasury debt, represents the modern day "gold", the valuable reserves used to "store wealth" and "back trading" (fund production and distribution). This pile of "wealth" includes US Dollar denominated debt, debt in other currencies tied closely to the US Dollar in the power or monetary structure, stocks of debt heavy businesses (many businesses now including those leading the major US stock market indices higher are highly leveraged, debt heavy, thanks to stock buy backs), securitized debt such as mortgage backed securities, derivatives (hedging bets on interest rates, foreign exchange rates and the price of oil), and more complex financial products layered on top of that.

Most of the world owes debt, from yourself and your local school district, to your town or city, to your state or province, to your nation or region (EU), and from your local plumber or dentist to many of the largest corporations. The debt is owed in US Dollars or a closely connected currency. Real income, in the face of a world wide economic depression (not yet admitted to in the main stream media) is collapsing. Debtors are becoming increasingly desperate to make payments.

This world monetary system, the US-Petro-Narco-Dollar, is controlled by a few major Western banks, mostly headquartered either in New York or Western Europe. They lend the money, they manage the payment systems, they control the regulatory agencies, police and military forces, the collection agencies (whether repossessing your car, or your nation), and they own the Federal Reserve.

The world's dominant families that own these banks via interlocking directorships will for the most part be fine ... some cut-outs will be thrown under the bus, but the world's trillionaires will mostly retain their power, with the usual continued infighting and shifting.

But those big Western banks and the US-Petro-Narco-Dollar system are going down.

Blowing up the US-Petro-Narco-Dollar system means blowing up (financially, I hope) these banks. They are already under extreme stress, as the inevitable conclusion of a debt-money based monetary system, in which money is lent into existence, on promise of greater returns. This requires literally exponential increases in lending over decades, until the system implodes from a debt burden that an increasingly inefficient real economy (too much siphoned off to pay debt) can no longer support. These big banks have been on life support since the crash of 2008, and now require a trillion dollars a month of back door funding by the Federal Reserve to keep alive.

To kill the Dollar you kill those banks.

After 7 or 8 years of life support on the Federal Reserve's variation of chemo and radiation therapy, these banks are now being or about to be hit with the above list of extreme stresses. They will not survive in their present form.

ThePythonicCow

4th December 2015, 05:25

TargeT

4th December 2015, 13:24

On a related note, national governments whose very existence is inextricably entwined with the Petro-Dollar, such as in particular the Saudi royal family in Saudi Arabia, will also be under extreme, likely fatal, stress. Joseph P. Farrell comes to this conclusion, that "the Saudi's will be under tremendous pressure," in his latest News and Views from the Nefarium for Dec 3, 2015 (https://www.youtube.com/watch?v=aNJESO4dduQ), though he uses other evidence, not my above monetary analysis, to reach that conclusion.

All of OPEC is in for a surprise, I'd wager those countries are so heavily invested in FRN's that there is no way they could quietly exit their position. Lots of opportunity for shenanigans as these countries get desperate, we are already seeing Saudi Arabia's name popping up in the news pretty frequently, I expect this will increase as economic pressures build.

Seems like the tempo is rising, things could be moving quicker than I thought... maybe we are looking at a 2017 crash? perhaps MUCH sooner (I don't think it will be too much sooner, I think the REAL volume of money is unknown and crashing this beast will be harder than predicted)?

Opec is certainly behaving in a counter intuitive way....

OPEC agrees to up oil output ceiling: sources
VIENNA (Reuters) - OPEC has agreed to raise its output ceiling to 31.5 million barrels per day at a meeting on Friday, OPEC sources said in what appeared to be an effective acknowledgment of existing production.

It was not immediately clear if the new ceiling included rejoining member Indonesia or not.
http://finance.yahoo.com/news/opec-agrees-oil-output-ceiling-140639862.html

ThePythonicCow

4th December 2015, 15:00

Opec is certainly behaving in a counter intuitive way....

OPEC agrees to up oil output ceiling: sources
Well, not that counter intuitive :).

For the first time in decades, Saudi Arabia is running deficits. Their social programs to pay their citizens money to keep them from revolting, even though there are few jobs or opportunities, are costing more than the country earns, given the collapsing price for oil. They must pump and sell as much oil as possible, to slow the collapse of their oil reserves.

Jim Willie called this one so far ... oil price will continue downward from about $40 a barrel today, to about $30 a barrel or lower. In the last hour, oil has fallen $1.68, from $41.60 to $39.92 a barrel, according to a graph in this Zerohedge article: Oil & Ruble Dump, Gold Jumps On Leaked OPEC Decision - "No Cut In Production" (http://www.zerohedge.com/news/2015-12-04/crude-plunges-first-no-cut-opec-leak).

The above Zerohedge article ends with the words "the result is that oil may very well trade to Goldman's near-term target in the mid-$20s on very short notice."

TargeT

4th December 2015, 15:13

For the first time in decades, Saudi Arabia is running deficits. Their social programs to pay their citizens money to keep them from revolting, even though there are few jobs or opportunities, are costing more than the country earns, given the collapsing price for oil. They must pump and sell as much oil as possible, to slow the collapse of their oil reserves.

well, that's fortuitous timing (if a global currency crash is desired). If this is (as it seems to be) all planned out, it appears to be planned brilliantly.

This article has a "blame Iran" take on the situation.

In the past, OPEC—which pumps about four out of 10 barrels of oil consumed each day around the globe—has throttled back on output to support prices. But in a break from that strategy, OPEC has held production steady since last year in a bid to defend—and extend—its share of the oil market.

The key issue for OPEC is Iran, which is expected to return to the global oil market after the lifting of the international sanctions early next year. Analysts say the country could quickly ramp up production by around 500,000 barrels, adding to the oversupply of crude.
http://www.marketwatch.com/story/crude-prices-edge-up-as-opec-decision--day-finally-arrives-2015-12-04

ThePythonicCow

4th December 2015, 15:32

Gold is the "other" monetary base. For decades it has been (to mutilate a cheer from my high school football team) "Oil, oil, he's our man. If he can't do it nobody can." Oil (and, a wee bit under the covers, narcotics) has been the big cash flow source needed as one of the three legs of the debt-money system stool (debt owed, debt collectible and cash flow).

The other, classical monetary system uses a precious material as the reserve, not debt. Debt-money systems are inherently unstable. They must blow up, they always blow up. Such is the inherent nature of using an exponentially growing base where a nearly stable base is required. The debt must grow, because it's inherent value is More, more value tomorrow for money lent today. This requires Moar Debt, ever increasing debt:

http://thepythoniccow.us/Debt_Crisis_Moar_Debt.jpg

The "real" economists (not the PhD dunderheads hired by the Federal Reserve) must know this. They chose a debt-money system for the world's global monetary system deliberately, when they went to the US Dollar as the world's reserve currency/debt, at Bretton Woods, after the Second World War, and then weened the US Dollar off any semblance of a gold basis when Nixon closed the gold window in August of 1971.

If the "real" economists and their masters want the next world monetary system to be unstable, they will choose another debt-money system. If they want it to last, perhaps because they expect to put in place the world monetary system that they really want for a while, then they will place gold in key foundation blocks of the system. I'm betting (my silver coin) on the latter.

"Gold, gold, he's our man. If he can't do it nobody can."

¤=[Post Update]=¤

well, that's fortuitous timing (if a global currency crash is desired). If this is (as it seems to be) all planned out, it appears to be planned brilliantly.

This article has a "blame Iran" take on the situation.
Yes, very well planned. And Obama letting Iran come in from the cold and dump the oil it has been pumping and storing for years will be another "directed energy" weapon (yes, there's a pun in there) at the US Dollar hegemony. That too was no doubt deliberate.

ThePythonicCow

4th December 2015, 16:46

A piece on RT today, spreading more fear of computer hacks of big US corporations, such as our banks:
LH4UDj-Lxqo

ThePythonicCow

9th December 2015, 21:51

Dang ... I didn't see this one coming. Perhaps I should have though.

A week after adding China's renminbi to it's SDR currency basket, the IMF "turned the other cheek" and shunned Russian debt, announcing that henceforth they "only enforce debts owed in US dollars to US allies.”

This policy change came in direct support of the US/NATO position in the Ukraine, against Russia's position.

The US-NATO controlled Kiev regime in Ukraine needed another loan, which they have no chance of repaying, and which they will no doubt use to continue waging war on eastern Ukraine, which is more Russian.

The IMF has a couple of policies that would prohibit such a loan:

Don't loan money that cannot be repaid (this policy is being ignored).
Don't lend money to nations that aren't repaying debts to other nations (this is the policy they just changed.)

The Ukraine owes a few billion to Russia, and is past due on payments. So by the second policy, the IMF would not have been able to continue financing the Kiev war on eastern Ukraine.

No problem, says the IMF. We'll just let the Ukraine stiff Russia and continue their war, by changing that policy.

Here's the original article reporting this, a special by the inimitable Michael Hudson to the equally inimitable blog of The Saker: The IMF forgives Ukraine’s debt to Russia (http://thesaker.is/the-imf-forgives-ukraines-loan-to-russia/).

Those who raised objections earlier in this thread that the IMF and their SDR basket could not, would not, form the basis of a new world monetary system now have more evidence for that position. Such favoritism of one side of the Western vs BRICS split will likely not go down well with the BRICS nations.

Do the damn bastards in power have to destroy every nation on the planet to make their long sought after One World Omelet (a silly take off on the observation that you need to break eggs to make an omelet ... here's an idea ... how about making some more chickens instead?)

promezeus

9th December 2015, 22:44

Dang ... I didn't see this one coming. Perhaps I should have though.
Do the damn bastards in power have to destroy every nation on the planet to make their long sought after One World Omelet (a silly take off on the observation that you need to break eggs to make an omelet ... here's an idea ... how about making some more chickens instead?)

No intention of destroying every nation,imo, but every intention of building the drama to make us think they will, if we don't do what they want.......

ThePythonicCow

10th December 2015, 02:09

Those who raised objections earlier in this thread that the IMF and their SDR basket could not, would not, form the basis of a new world monetary system now have more evidence for that position. Such favoritism of one side of the Western vs BRICS split will likely not go down well with the BRICS nations.
Sure enough. This just in from the Russian News Agency TASS: Kremlin considers IMF decision on Kiev’s debt very dangerous precedent (http://tass.ru/en/politics/842601).

There's not much more surprising in the article ... just confirmation that the IMF's move was not liked by Russia.

Here it is anyway, if you want to glance over it.

========

MOSCOW, December 9. /TASS/. The Kremlin believes the IMF’s decision on lending to the countries with past-due loans to be a dangerous precedent, the causes and possible consequences of this decision will be analyzed, Kremlin spokesman Dmitry Peskov said Wednesday.

"We will carefully analyze the causes and possible consequences of this decision," he said. Peskov added that the main issue is sovereign debt of Kiev. "(The decision of the IMF - TASS) precedent, of course, is unwanted for us and, most importantly, from our point of view, quite dangerous in the international practice, because, in plain language, creates a very dangerous precedent for allowing the possibility of non-payment of sovereign debt," Peskov said.

"The question is - what will happen next?" the press secretary of the Russian president concluded.

Russia’s Minister of Economic Development Alexey Ulyukayev said that the decision of the IMF regarding the debt of Ukraine creates a problem for the global market for sovereign debt in general.

"Of course we have a negative attitude. It (IMF decision on sovereign debt - TASS) is especially strange if applies to the past loans ... This is a problem not only for Russia, Ukraine, but the overall global market of sovereign debt," he said.

According to him, the decision is pushing Ukraine closer to default. "Of course, it will lead to a "default situation" for Ukraine. Of course, we will use legal procedures," Ulyukayev said.

Earlier the International Monetary Fund lifted the ban on lending to nations with past-due sovereign debts. The decision was made at the IMF’s Executive Board meeting on Tuesday. Russia voted against it.

"The IMF's Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors," IMF Chief Spokesman Gerry Rice said. "We will provide details on the scope and rationale for this policy change in the next day or so," he added.

The decision particularly means the IMF will continue implementing its anti-crisis program for Ukraine even in case Kiev defaults on its debts to Russia. Certainly, it will also apply to other situations when nations with sovereign debts simultaneously use the credit support of the Fund.

Russia voted against the decision of the Executive Board, the Russian directorate in the IMF told TASS.
========

ThePythonicCow

10th December 2015, 05:00

The upcoming addition of the Renminbi to the SDR currency basket will no doubt result in increased demand for Yuan denominated debt.

Aside: Renminbi vs Yuan: The Chinese Renminbi currency is denominated in Yuan, just as the US currency is denominated in Dollars. Renminbi is (so I am told) Chinese for "People's Currency."

For many decades now, it has been US Dollar denominated debt, the premier form being US Treasury debt, that other nations have held as their dominate form of reserve wealth. Some (more) of that US Treasury debt will be sold (likely to the buyer of last resort, the Federal Reserve), to be replaced with Yuan denominated debt.

This will create a demand for more Yuan denominated debt, and Russia is stepping up to provide some of that demand.

As reported at Russia Behind The Times (RBTH), Russia will issue yuan-denominated bonds (http://rbth.com/news/2015/12/08/rusia-to-isue-yuan-denominated-bonds-report_548475). The original story was reported at The Financial Times (http://www.ft.com/intl/cms/s/3/6b7036c4-9a8e-11e5-a5c1-ca5db4add713.html) (FT), but that story is behind a subscriber wall.

RBTH summarizes this FT article as:

========

Russia is looking to raise $1 billion in yuan-denominated sovereign bonds, the Financial Times said on Dec. 7.

The bonds would set a benchmark interest rate in yuan (or renminbi) for the Russian government, and subsequently for corporate issuers, Denis Shulakov, head of capital markets at Gazprombank, which is providing informal assistance in preparing the issue, told the paper.

The International Monetary Fund (IMF) recently made the yuan a world reserve currency by including it in its Special Drawing Rights basket.

Shukalov told the Financial Times that Russia was looking to “bring in a new source of liquidity that comes with the internationalisation of the renminbi.”
========

promezeus

10th December 2015, 14:50

Outstanding , updated, big picture economic overview............

Globalists want us to believe there is no other option but their leadership, and they will create any measure of chaos in order to convince us of their necessity.

Submitted by Brandon Smith via Alt-Market.com,

In my last article, I outlined the deliberately engineered trend toward the forced “harmonization” of national economies and monetary policies, as well as the ultimate end goal of globalists: a single world currency system controlled by the International Monetary Fund and, by extension, global governance, which internationalists sometimes refer to in their more honest public moments as the “new world order.”

The schematic for the new world order, according to the admissions of the internationalists, cannot possibly include the continued existence of U.S. geopolitical and economic dominance. The plan, in fact, requires the destabilization and reformation of America into a shell of its former glory. The most important element of this plan demands the removal of the U.S. dollar as the de facto world reserve currency, a change that would devastate our current financial structure.

I outlined with undeniable evidence the reality that major governments, including the BRICS governments of the East, are fully on board with the globalist agenda. There is no way around it; the BRICS, including Russia and China, have openly called for a global monetary system centralized and dictated by the IMF using the SDR basket. This same plan was outlined decades ago in the Rothschild-owned magazine The Economist. We are witnessing that plan being implemented in front of our very eyes today.

For the past couple of years, the current head of the IMF, Christine Lagarde, has used the phrase “global economic reset” often in her speeches and interviews. There is some (deliberate) ambiguity to this notion, but after sitting through hours upon hours of her most boring and repetitive discussions in globalist think tanks such as the Council On Foreign Relations, the consistent message is pretty straightforward. If anyone can stand to listen to this woman's carefully crafted prattle and well-vetted half-truths for more than five minutes, I suggest they watch this particular speech given in January at the CFR:

Her message on the global economic reset is essentially this: “Collective” cooperation will not just be encouraged in the new order, it will be required — meaning, the collective cooperation of all nations toward the same geopolitical and economic framework. If this is not accomplished, great fiscal pain will be felt and “spillover” will result. Translation: Due to the forced interdependency of globalism, crisis in one country could cause a domino effect of crisis in other countries; therefore, all countries and their economic behavior must be managed by a central authority to prevent blundering governments or "rogue central banks" from upsetting the balance.

It’s interesting how the IMF’s answer to the failings of globalization is MORE globalization. In other words, Lagarde would argue that while we are in the midst of an international system, we are not centralized enough for such a system to succeed.

The IMF points out correctly that the economic situation around the world is not stable and could revert once again to the chaos of the initial 2008 crash. The Bank for International Settlements, the primary hub of central bank control, has also given numerous warnings this year on the potential for disaster, including in its latest quarterly report.

The warnings of the BIS in particular should not be taken lightly (some analysts are indeed taking them lightly). The BIS knows exactly when financial disasters will erupt because it wrote the central bank policies that created those same events. For example, in 2007, the BIS released a warning that perfectly predicted the elements of the derivatives and credit crisis in 2008.

What these globalist institutions will not tell you in a direct manner are the real causes and motivations behind the inevitable next stage in the ongoing destruction of the current economic system

The global reset is not a “response” to the process of collapse we are trapped in today. No, the global reset as implemented by central banks and the BIS/IMF are the CAUSE of the collapse. The collapse is a tool, a flamethrower burning a great hole in the forest to make way for the foundations of the globalist Ziggurat to be built. As outlined in my last article, economic disaster serves the interests of elitists.

When you look at these actions by the Federal Reserve and the U.S. government in particular, questions arise. Is it “stupidity” that is causing them to sabotage the golden goose? Is it hubris and greed? Their actions are clearly facilitating a program of incremental implosion, yet they continue to ignore the obvious. Why?

The people who ask these questions are operating on a false assumption; they have assumed that the international bankers and the puppet politicians they control have any interest in protecting the longevity of the U.S. The fact is they do not. They have no loyalty whatsoever to the U.S. system, nor do they see the U.S. as “too big to fail.” This is utter nonsense to globalists. Rather, they see each nation and central bank as a piece in a game, much like chess. Some pieces have to be sacrificed in order to gain a better position on the board. This is all that the U.S., the Federal Reserve and even the dollar are to them: expendable pieces in a larger game.

The U.S. is now experiencing the next stage of the great reset. Two pillars were put in place on top of an already existing pillar by the central banks in order to maintain a semblance of stability after the 2008 crash. This faux stability appears to have been necessary in order to allow time for the conditioning of the masses towards greater acceptance of globalist initiatives, to ensure the debt slavery of future generations through the taxation of government generated long term debts, and to allow for internationalists to safely position their own assets. The three pillars are now being systematically removed by the same central bankers. Why? I believe that they are simply ready to carry on with the next stage of the controlled demolition of the American structure as we know it.

Bailouts And QE: The First Pillar Removed

The bailout bonanza was in part a direct intervention in the deflationary avalanche of the derivatives bubble, but also an indirect intervention in that it changed the psychological dynamics of the markets. As former Fed chairmans Alan Greenspan and Ben Bernanke have both hinted at in interviews and op-eds, one of the primary concerns of the central bank was the psychology behind higher stock prices.

Stock prices could be propped up by the Fed itself through proxy buyers using the printing press. Or the Fed could inject billions, if not trillions, of dollars into banks and allow them to run wild, artificially boosting investment while doing nothing to solve the existing dilemma of negative fundamentals. Beyond this, the markets began to move on the mere words or edicts of Fed officials as algo-computers and the general investment world placed bets on rhetoric rather than reality; a dynamic which is now ending.

The bailouts also reanimated the cadavers of large corporations and banks, not just in the U.S. but in Europe, giving the illusion of life to the financial system while leaving Main Street to rot. In the meantime, quantitative easing measures provided a way to continue financing U.S. government debt at the expense of generations of taxpayers as numerous primary lenders began to abandon typical long-term bond purchases.

Furthermore, oil markets appear to have been directly inflated by QE intervention. It is important to take note that oil prices remained extraordinarily high despite the continuous fall in global demand UNTIL the moment the Federal Reserve instituted the taper of QE3. Then, prices began to plunge.

In a September 2013 article, I predicted that the Fed, despite all common sense and the claims of banks like Goldman Sachs, would indeed follow through with the taper: a removal of the first pillar levitating the U.S. system.

I was, of course, called crazy at the time for this prediction by some people within the alternative economic community.

“Why in the world” they asked, “would the Fed taper QE when they can simply print to infinity and kick the can down the road perpetually?” Again, these people do not understand that America is under scheduled demolition by the international banks; it is not being protected by them.

The taper occurred in December of that year.

Near Zero Interest Rates: The Second Pillar Nearly Removed

After the taper of QE, volatility not seen since 2008/2009 returned to the markets. And the public once again was reminded in sporadic moments that the recovery might not be real after all. Europe and Japan quickly stepped in with their own renewed stimulus measures, and Fed officials began using strategic media interviews to “hint” falsely that QE might return. Markets rallied, then fell dramatically, then rallied again, then fell again in a shocking manner. And this volatility has been the trend up until recently, when the question of the end of zero interest rate policy arose.

Again, very few people have ever asked or demanded the Fed end QE or ZIRP. There was never any legitimate public pressure on the fed to remove these pillars. The investment world has been essentially addicted like heroin junkies to assured gains for three years. The war cry of the investment world has been BTFD! (Buy the f'ing dip) for quite some time; investors have come to expect and demand inevitable central bank intervention and fiat driven stock market rallies. Yet, the Fed is ending the party anyway.

ZIRP is the only pillar left holding stocks in place. Without zero interest rates, and with even the most minor of .25 basis points added, cost-free overnight lending to banks and corporations will end. They will not be able to afford continued lending on the massive scale seen since 2009/2010. This means no more stock buybacks for dying companies like IBM or General Motors, among others. This means a considerable decline in the markets, declines which we have had a taste of in recent plunges in equities at the mere mention of interest rate increases.

In August in an article entitled 'Economic Crisis Goes Mainstream: What Happen's Next?', I wrote:

"The Federal Reserve push for a rate hike will likely be determined before 2015 is over. Talk of a September increase in interest rates may be a ploy, and a last-minute decision to delay could be on the table. This tactic of edge-of-the-seat meetings and surprise delays was used during the QE taper scenario, which threw a lot of analysts off their guard and caused many to believe that a taper would never happen. Well, it did happen, just as a rate hike will happen, only slightly later than mainstream analysts expect.

If a delay occurs, it will be short-lived, triggering a dead cat bounce in stocks, with rates increasing by December as dismal retail sales become undeniable leading into the Christmas season."

You can also read my analysis on the motivations behind a Fed rate hike as well as the theater surrounding their policies.

The cat seems to have finished its bounce and stocks are returning to volatility. Retail sales so far for Black Friday weekend (including Thanksgiving) have posted a staggering 10% drop with online sales below expectations. Chain Store sales have recently crashed 6.3% week over week. Plunging freight rates and global shipping indicate a severe lack of global demand and a terrible sales season ahead. Janet Yellen, ignoring all negative economic signals as predicted, has all but declared a rate hike a given by Dec. 16.

I was, yet again, called crazy for this assertion by some at the time; and to be clear, I could still be wrong. The Fed could pull a fast one and not raise rates, though the rhetoric coming from the fed today almost guarantees they will take action. Not raising rates doesn’t match with their past habits; they seem to be following the timing of the taper model perfectly. The point is, despite common assumptions within the alternative media, the Fed is not “trapped” and can do whatever it wants, including killing the markets if it benefits the greater goal of a global economic authority. With the ZIRP pillar gone, expect even more violent swings in stocks and general uncertainty and panic among day-traders and the public.

U.S. Dollar's World Reserve Status: The Third Pillar In Progress Of Removal

I’ve been writing about the loss of the dollar’s reserve status since 2008. And as I have always said, the removal of this final pillar is a process, not an overnight affair. The BRICS nations have been positioning themselves for years — China since 2005, the rest of the BRICS since at least 2010.

The delusion that some economic analysts have been under is that the BRICS were strategically vying for power by building their own unified banking institution in “opposition” to the IMF and the West. As I presented in my last article, this has proven to be completely false. They were in fact positioning to take their place as puppets within the new global paradigm taking shape. China has now joined the IMF’s SDR basket (as predicted); and Russia, along with the other BRICS, has openly called for the IMF to take control of the global monetary system.

China’s inclusion, I believe, will hasten the loss of the dollar’s market share of reserve status over the next year, along with other factors. Saudi Arabia has also brought the idea of a depeg from the U.S. dollar into the mainstream discussion. This action, which mainstream economists are calling a possible Black Swan, would end the dollar’s petro-status and result in catastrophe for the U.S. economy. The removal of the final pillar is well underway.

As I have stated in the past, the U.S. system as it stands does not necessarily deserve to survive, but then again, this does not mean that it should be sacrificed in order to breathe life into the monstrosity of global economic governance. Such a trade-off only serves the interests of a select group of elites, with the global reset ending in the mechanized multicultural suicide of sovereignty, leeching prosperity from the rest of us in the name of “collective progress.” Globalists want us to believe there is no other option but their leadership, and they will create any measure of chaos in order to convince us of their necessity.

TargeT

11th December 2015, 18:47

ThePythonicCow

11th December 2015, 19:13

traders Friday assigned an 81 percent chance that a hike (.. by the federal reserve..) will be announced Wednesday,
http://www.cnbc.com/2015/12/11/investors-flock-to-cash-ahead-of-fed-meeting.html

It's about to get fun!
My favorite analyst, Jim Willie of the HatTrick Letter (http://goldenjackass.com/), has been completely certain that the Fed would never raise rates, but rather that the US Dollar would instead rise and rise and rise some more, then "die" (be reconstituted somehow). Jim figures that a rate raise would cause a chain reaction of collapses and bankruptcies in the most overly indebted nations and businesses that would result in the destruction of some of the very banks that own the Fed. In short, (my words, not Jim's), Jim is convinced that the Fed would never make itself a suicide bomber amongst its very owners.

If the Fed does raise rates, I suspect that Jim is half right, in that this would be a massively destructive trigger. To understand why Jim was half wrong, by predicting this would never happen, we need to look elsewhere.

Such a rate rise would underscore something that Brandon Smith wrote on his Alt-Market.com website a few days ago in yet another brilliant article of his: The Global Economic Reset Has Begun (http://www.alt-market.com/articles/2758-the-global-economic-reset-has-begun). Do read it, it's good! Alternatively, for a repost of Brandon's article, with key sentences highlighted, see The Global Economic Reset Has Begun (ZeroHedge) (http://www.zerohedge.com/news/2015-12-09/global-economic-reset-has-begun). (P.S. -- Aha, promezeus already posted Brandon Smith's entire article two posts above -- thanks!)

In this article, Brandon Smith wrote:

=======

The global reset is not a “response” to the process of collapse we are trapped in today. No, the global reset as implemented by central banks and the BIS/IMF is the CAUSE of the collapse. The collapse is a tool, a flamethrower burning a great hole in the forest to make way for the foundations of the globalist Ziggurat to be built. As outlined in my last article, economic disaster serves the interests of elitists.

When you look at these actions by the Federal Reserve and the U.S. government in particular, questions arise. Is it “stupidity” that is causing them to sabotage the golden goose? Is it hubris and greed? Their actions are clearly facilitating a program of incremental implosion, yet they continue to ignore the obvious. Why?

The people who ask these questions are operating on a false assumption; they have assumed that the international bankers and the puppet politicians they control have any interest in protecting the longevity of the U.S. The fact is they do not. They have no loyalty whatsoever to the U.S. system, nor do they see the U.S. as “too big to fail.” This is utter nonsense to globalists. Rather, they see each nation and central bank as a piece in a game, much like chess. Some pieces have to be sacrificed in order to gain a better position on the board. This is all that the U.S., the Federal Reserve and even the dollar are to them: expendable pieces in a larger game.
=======

promezeus

11th December 2015, 20:00

Satanic inner circle humor.......

"What’s it like playing chess with Obama?" asks a top aid of Russian president Vladimir Putin.
Putin replies, "It's like playing chess with a pigeon. First it knocks over all the pieces, Then it Sh*ts on the board, and finally it struts around like it won."

ThePythonicCow

11th December 2015, 20:32

In this article, Brandon Smith wrote:

=======

The global reset is not a “response” to the process of collapse we are trapped in today. No, the global reset as implemented by central banks and the BIS/IMF is the CAUSE of the collapse. The collapse is a tool, a flamethrower burning a great hole in the forest to make way for the foundations of the globalist Ziggurat to be built. As outlined in my last article, economic disaster serves the interests of elitists.

=======

To finish my above post ... it seems that the bastards are going to do something to set this forest of dry kindling ablaze. That something might be:

Rebekah Roth's forecast deadly (false flag, of course) attacks on several major US cities in several days.
The major computer attack on the US financial system, especially its largest banks, that another Avalon member anticipated and I discussed earlier in this thread.
The Federal Reserve making a major policy error and raising rates, as TargeT just reported above.
War (even larger war) in the Middle East.
Major open war between the US and Russia.
Major bankruptcies of more indebted nations and businesses causing the collapse of some major Western banks.
... and other possibilities.

norman

11th December 2015, 21:02

ThePythonicCow

15th December 2015, 23:30

Well, I'll be danged.

Jim Willie has been adamant for years now that the US Federal Reserve can -never- raise rates, for it would be a death blow to the big Wall Street and European banks that own it.

Today a new article of Jim's was posted at TRIGGERS IN US DOLLAR COLLAPSE (count down to zerotime.com) (http://countdowntozerotime.com/2015/12/15/jim-willie-triggers-in-us-dollar-collapse/), in which he lists some of the many possible triggers that could set off this next collapse, which Jim expects will be "five times worse than the Lehman event within the United States in 2008":

NUMEROUS IMMINENT TRIGGERS

Crude Oil Price touches $30
Oil Hedge Expiration initiates string of bank failures
Emerging Market Debt defaults begin in a rash
Fall of House of Saud, from financial and internal forces
Saudis concede to Chinese oil sales in RMB currency
China & Russia inaugurate the Gold Trade Note for payments
Group of Southern European banks fail simultaneously in a PIGS fit
Turkey suffers military coup to oust Erdogan, exits NATO
Deutsche Bank failure, unsuccessful restructure, leading to derivative incident
Germany & France halt Russian sanctions
QE Declared a Failure by Renegade Western Bankers
Wall Street Banks lose control of Interest Rate Derivatives
USFed Rate Hike causes immediate derivative incident
Chain Reaction for nations announcing precious metals backed currency
Evidence put before United Nations on US-UK-Israel role in ISIS terror
New Oil Cartel Emerges in Russia, Iran, Saudis to upset global alliances
United States, NATO, British Crown, Vatican Revealed as Narcotics Agents
Assassination of one or more Western Elite figures

Notice the one I marked in Bold - USFed Rate Hike.

Instead of saying it can't happen, Jim is including it as a possible trigger.

I wonder if Jim is hedging his bets on what the Fed will announce in about 20 hours from now ?

ThePythonicCow

16th December 2015, 19:18

USFed Rate Hike causes immediate derivative incident

The US Federal Reserve just announced that it is raising short term interest rates a quarter point, and that it will continue with further raises, at a quarter point every three months through 2016.

Wow!

... I just started a new thread with this announcement: US Federal Reserve announces it is raising short term interest rates. (16 Dec 2015) (http://projectavalon.net/forum4/showthread.php?87598-US-Federal-Reserve-announces-it-is-raising-short-term-interest-rates.--16-Dec-2015-).

norman

16th December 2015, 19:25

Is it going to burn, go BANG! ?

ThePythonicCow

16th December 2015, 19:34

Is it going to burn, go BANG! ?

Yes - but not in minutes or hours, rather in days, weeks and months. Like an immense forest fire covering thousands of acres/hectares, many people won't find it threatening until it's their house that's about to go up in flames and they are running for their lives.

TargeT

16th December 2015, 19:59

So now the question is, who flinches first.

TargeT

18th December 2015, 22:08

Canadian dollar tumbles to close below 72 cents US
http://i.cbc.ca/1.3354131.1449866014!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/canadian-dollar-loonie-maple-leaf.jpg
The Canadian dollar continued its slide today, closing below the 72-cent US mark for the first time since the spring of 2004.

The loonie ended the trading day at 71.68 cents US, down more than four-fifths of a cent from its close Wednesday. At one point during the day, it was down more than a full cent.
Put another way, it now costs almost $1.40 Cdn at official exchange rates to buy a single U.S. dollar. Tack on service fees charged by banks and anyone buying American currency at their local financial institution will end up paying $1.43 or so.

The loonie is on track to post its second-worst year ever, down 17 per cent since Jan. 1, and there's still a week to go, Bank of Montreal economist Doug Porter noted Thursday. "The only bigger annual decline was in the extreme conditions of 2008, when the Canadian dollar fell 18.6 per cent — a threshold I thought would never even be approached again," Porter said.

Several factors

The dollar's drop has been fuelled by several factors, including the continuing slide in oil prices, and the diverging monetary policies of Canada and the United States.

The U.S. Federal Reserve on Wednesday began raising its key lending rate for the first time in nearly 10 years, while the Bank of Canada has indicated it's in no hurry to follow suit. Some analysts say the Bank of Canada may have to lower rates to jump start the economy.

"CAD is trading at its lowest levels since May 2004, pressured by its key drivers of relative central bank policy and oil prices — CAD correlations to both are currently extremely elevated," said a morning currency commentary from Scotiabank, referring to the trading symbol for the Canadian dollar.

Some forecasts say the Canadian dollar could eventually hit 70 cents US. That's more a factor of the U.S. dollar increasing in value than the Canadian dollar going down, as the loonie is actually holding up fairly well when compared to most major currencies that aren't the U.S. greenback.

Speaking to reporters in Vancouver, Prime Minister Justin Trudeau said the U.S. economy's resurgence driving down Canada's dollar is a double-edged sword for the economy.

"Obviously the economy of our largest trading partner picking up is a good thing, potentially, for Canada," he said, "but whenever there are shifts in the value [of the loonie], especially decreases, there are both challenges and opportunities."

Oil hits 7-year low

Crude oil futures edged lower again Thursday, shedding 57 cents to settle at $34.95 US a barrel — a seven-year low.

Gold and other metal prices also tumbled. Gold plunged almost $27.20 to $1,049.70 US an ounce.and copper fell three cents to $2.04 US a pound.

Since metals are priced in U.S. dollars, a stronger American greenback makes it more expensive for other currency holders to buy them as the dollar rises.
http://www.cbc.ca/news/business/loonie-drops-72-cents-1.3369475

ouch

And the first "major" IMF victim?

Ukraine Defaults on $3 Billion Bond to Russia
Ukraine said it won’t repay $3 billion in bonds due to Russia, moving a step closer to a court battle amid a new wave of economic tension between the two ex-Soviet neighbors.
Prime Minister Arseniy Yatsenyuk said Kiev is imposing a moratorium on the note due Dec. 20, which Russian President Vladimir Putin bought two years ago as part of an abortive bail-out for Ukraine’s former leader just months before he was toppled. Russia said on Friday it will wait until a 10-day grace period on the bond expires on Dec. 30 before starting legal action.Ukraine, its finances reeling from a two-year-old conflict with Russian-backed separatists in the east of the country, had pushed Russia to join a $18 billion restructuring with commercial creditors this year. But Russia argued the debt was sovereign, despite its unusual Eurobond form, and proposed its own repayment terms.
The default “is just confirmation of the unimproved relations between the countries," said Simon Quijano-Evans, the London-based chief emerging-market strategist at Commerzbank AG. “The hope is that backstage negotiations will succeed in finding a solution. Otherwise, a legal case would probably ensue, unnecessarily complicating the ongoing political discussions surrounding eastern Ukraine and the sanctions."
Economic Pressure
Russia has stepped up the economic pressure in recent weeks, moving to impose trade restrictions on a wide range of Ukrainian products from the first of the year, when a trade deal between Ukraine and the European Union is slated to take effect. Russia has opposed Ukraine’s efforts to build ties with the EU, a key policy goal for the current government in Kiev. The EU, meanwhile, is expected this week to extend sanctions imposed on Russia over the Ukraine crisis for another six months.
The non-payment won’t trigger cross-defaults on Ukraine’s other sovereign debt since it has all been restructured. While investors had expected the default, the yield on new dollar bonds maturing in 2025 climbed nine basis points Friday amid concern that political infighting could scupper changes to tax policy needed to pass next year’s budget and unlock the next tranche of an International Monetary Fund rescue loan.
On Wednesday, David Lipton, First Managing Director of the IMF, urged Ukraine to approve its new tax code, saying that not doing so will disrupt the aid program.
Payment Freeze
Yatsenyuk announced the payment freeze at a government meeting in Kiev, contending the step was needed after Russia refused to join the restructuring. Payments are frozen "until our proposals on restructuring are accepted or until a relevant court decision is made," he said. President Petro Poroshenko described the Russian bond as a "bribe" earlier this year, rejecting Putin’s demands for repayment.
"Our Ukrainian colleagues have no chance of winning this case," Russian Deputy Finance Minister Sergey Storchak told state television on Friday.
The moratorium also applies to about $507 million owed to Russian banks by two state-run companies, according to Yatsenyuk.
Private Creditors
The government in Kiev is barred from paying Russia back in full under the conditions of the agreement with private creditors. That pact, in turn, is a key condition of a $17.5 billion IMF aid package secured this year to keep the country’s economy afloat. Under that deal, bondholders including Franklin Templeton accepted a 20 percent reduction to their principal holdings, something Russia refused to consider.
Earlier this month, the IMF changed its policies to allow Ukraine to continue receiving funding under the aid package even if it defaulted on the Russian bond. Ukraine is still required to negotiate in good faith on a restructuring, according to IMF rules.
Ukrainian Finance Minister Natalie Jaresko said in an interview on Friday she is "hopeful" an agreement can be reached without resorting to a legal battle. Russia and Ukraine indicated earlier this month that they’re open to negotiations to restructure the debt and have been using German officials to mediate indirect talks.
"A court case is the baseline scenario now," Vadim Khramov, a strategist at Bank of America in London, said by phone. "An out-of-court restructuring is possible, but the only way to negotiate is to negotiate directly. I don’t see a simple solution coming from bilateral talks."
Any hearing in the case would he held in the U.K. as the bond is structured under English law.
http://www.bloomberg.com/news/articles/2015-12-18/ukraine-defaults-on-3-billion-russia-bond-as-court-battle-looms

ThePythonicCow

19th December 2015, 10:05

Jim Willie, at goldenjackass.com, in his HatTrick newsletter just out, states that a few days before the Federal Reserve announced its rate raise, one of his key insider sources informed him that the decision had been made and the global reset had begun. The corrupt and criminal Satanist Bank Cabal groups currently running rough shod over humanity were going to go down, hard. This would become visible to ordinary people in early 2016.

I presume that the Fed rate change and that the opening of FBI files on Hitler fleeing (http://projectavalon.net/forum4/showthread.php?87621-FBI-quietly-opens-files-on-Hitler-fleeing&p=1030908&viewfull=1#post1030908) are likely two early elements of this.

ThePythonicCow

19th December 2015, 11:07

I missed posting this earlier. From Reuters a couple weeks ago, S&P downgrades holding companies of eight U.S. banks (http://www.reuters.com/article/us-s-p-banks-idUSKBN0TM27C20151203):

=======

Standard & Poor's cut its nonoperating holding company (NOHC) ratings on eight U.S. "global systemically important banks" by one notch, citing uncertainty about the U.S. government's willingness to provide support to the banking system if it came under stress.

The ratings apply to the holding companies of Bank of America Corp (BAC.N), Citigroup Inc (C.N), Morgan Stanley (MS.N), Wells Fargo & Co (WFC.N), Bank of New York Mellon Corp (BK.N), State Street Corp (STT.N), JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group Inc (GS.N).

The credit ratings on the banks' operating units are not affected by the downgrade.

=======

ThePythonicCow

19th December 2015, 11:24

Major banks are cutting back, trimming their budgets, closing some operations and cutting jobs.

100,000 bankers lost their jobs in 2015 (BusinessInsider.com) (http://www.businessinsider.com/banks-uber-moment-100000-bankers-fired-in-2015-2015-12)
HSBC Said to Close Down Private Banking Operations in India (Bloomberg) (http://www.bloomberg.com/news/articles/2015-11-27/hsbc-said-to-close-down-private-banking-operations-in-india?)
Barclays Said to Plan Further 20% Investment Bank Job Cuts (Bloomberg) (http://www.bloomberg.com/news/articles/2015-12-04/barclays-said-to-plan-additional-20-job-cuts-at-investment-bank)
Deutsche Bank Said Planning 1,000 London Job Cuts (Bloomberg) (http://www.bloomberg.com/news/articles/2015-11-22/deutsche-bank-said-planning-1-000-london-job-cuts-sunday-times)
New Credit Suisse CEO announces 5,000 job cuts (The Local - Switzerland) (http://www.thelocal.ch/20151021/credit-suisse-announces-5000-job-cuts)
HSBC Said to Start 2,000 Job Cuts in Commercial Banking Unit (Bloomberg) (http://www.bloomberg.com/news/articles/2015-11-23/hsbc-said-to-plan-cutting-2-000-jobs-in-commercial-bank-division)
Morgan Stanley to cut 1,200 jobs, take $150M charge (CNBC) (http://www.cnbc.com/2015/12/08/morgan-stanley-to-cut-1200-jobs-take-150m-charge.html)
Lloyds announces 1,000 job cut (Express.co.uk) (http://www.express.co.uk/finance/city/622299/Lloyds-announces-1000-job-cut-details)
Standard Chartered Bank to Raise $5.1 Billion and Cut 15,000 Jobs (http://www.nytimes.com/2015/11/04/business/dealbook/standard-chartered-bank-job-cuts-capital.html?_r=0)
Standard Chartered Bank may close retail operations in Oman (MuscatDaily) (http://www.muscatdaily.com/Archive/Business/StanChart-Oman-may-close-retail-banking-operations-4eps)
France's BNP Paribas to close Dubai office, axe 40% of Bahrain staff (ArabianBusiness) (http://m.arabianbusiness.com/france-s-bnp-paribas-close-dubai-office-axe-40-of-bahrain-staff-614772.html)

Looks like a rough time to be a banker. Thanks to Jim Willie for compiling the above list ... I just reformatted it to post here.

Here's some more details from the first article linked above:

=========

The "Uber moment" in finance that the former CEO of Barclays warned about recently (http://uk.businessinsider.com/ex-barclays-boss-anthony-jenkins-on-fintech-and-bankings-uber-moment-2015-11) is already happening — 11 big banks have cut a combined 10% of their staff this year.

Analysis by the Financial Times (https://next.ft.com/content/5b8c94e0-9f8f-11e5-8613-08e211ea5317#ixzz3uHg6ww00) shows that almost 100,000 banking jobs were cut this year, equivalent to 10% of the combined staff of the 11 big European and US banks that announced cuts.

They include HSBC, Morgan Stanley, Standard Chartered, Royal Bank of Scotland, and Credit Suisse. Barclays and BNP Paribas are expected to add to cuts early in the new year.

=========

promezeus

19th December 2015, 14:13

TargeT

19th December 2015, 17:43

promezeus

19th December 2015, 18:38

WHAT ?
Paul do you believe this is real ?
Taken down by who? aliens lol?

Yes it's real, been planned for a while... We were all just guessing at "when" not "if".

It's not aliens, it's the same old players, shifting the power base from west to east so they can take advantage of the massive emerging middle class & basically reboot the financial system so the game can start fresh.

A "changing of the guard" really.

You are being played for a fool. The east is no better, in fact the same as the west.

I thought paul and people here were better informed on this false flag.

I have posted much on the subject to deaf ears here.

ThePythonicCow

19th December 2015, 20:56

ThePythonicCow

19th December 2015, 20:59

TargeT

20th December 2015, 00:27

It's not aliens, it's the same old players, shifting the power base from west to east
Though Jim Willie has reported that some of the aliens that were aligned with the West got tired of their lying ways and switched sides to help Russia and others, perhaps a decade ago, which is why it seems that Russia now has technology that trumps the west, such as shutting down the USS Donald Cook's electronics (http://theaviationist.com/2015/05/30/su-24-over-uss-ross-black-sea/).

We have EMP weapons too ;) we just didn't think anyone else did, easy to defend against once you know however.. especially on a boat (practically a floating Faraday cage), you won't see that happen again.

Nah, I'm pretty sure a big part of this reset started back in 1990/1995 or so when "back doors" were purposefully put into most software at the governments request; these back doors have been used (along with other methods of course) to transfer massive amounts of wealth from west to... everywhere that cared to get it basically.

The US has been intellectually robbed for almost 2 decades now (maybe longer) it's not even subtle anymore; they practically flaunt stolen tech now... In my mind this was the original move to undermine the west (no move at all really, just allow it to happen).

The Report Of The Commission On The Theft Of US Intellectual Property (http://www.ipcommission.org/report/ip_commission_report_052213.pdf)

US report warns on China's massive intellectual property theft (http://articles.economictimes.indiatimes.com/2013-05-23/news/39475776_1_ip-theft-china-foreign-ip)

FBI: Intellectual Property Theft (https://www.fbi.gov/about-us/investigate/white_collar/ipr/ipr)

2005 Piracy of Intellectual Property (http://www.uspto.gov/about-us/news-updates/piracy-intellectual-property)

Addressing Global Scope of Intellectual Property Law, 2004 (https://www.ncjrs.gov/pdffiles1/nij/grants/208384.pdf)

Cyber Espionage and the Theft of U.S. Intellectual Property and Technology (http://docs.house.gov/meetings/IF/IF02/20130709/101104/HHRG-113-IF02-Wstate-WortzelL-20130709-U1.pdf)

2007: THE CRISIS IN INTELLECTUAL PROPERTY PROTECTION AND CHINA'S ROLE IN THAT CRISIS (http://www.stewartlaw.com/stewartandstewart/portals/1/douments/12-15-2010.pdf)

no aliens IMO, just policy.

Ponder this:

Our military did not stand up the US Cyber Command until October 2010 (Oct.ober 1, 2010) and there was only any money put behind it last year and this year.. so effectively it started in 2014.

That doesn't fit the MO of our military, not historically anyway; this seems like a purposefully introduced weakness that robbed the US of it's main revenue generating assets, intellectual property.

But aliens are cool too...

norman

20th December 2015, 00:45

Intellectual property is a legal construct that doesn't fit humanity or serve it well either.

The luxury of sitting down comfortably and coming up with 'intellectual property', in the first place, is at best a team effort on the part of the rest of humanity, or else it's just plain crooked gains from violence.

Every part of the world that surged ahead in terms of intellectual property, was a part of the world that was living high on the fat of the human race elsewhere.

I prefer to see it all as a huge team effort, but when lawyers get shirty about it, I get angry and call it imperialistic marauding/bullying.

ThePythonicCow

20th December 2015, 01:14

But aliens are cool too...
Perhaps the magically powerful who remain behind the curtain of human history are neither the gods of long past, nor the aliens of present lore, but rather those that Graham Hancock writes of in his recent book The Magicians of the Gods: The Forgotten Wisdom of Earth's Lost Civilization (http://amzn.com/1250045924[/url).

From one of the Amazon review quotes: "Hancock does a magnificent job of proving beyond reasonable doubt that an advanced civilization, which flourished during the Ice Age, was destroyed in global cataclysms between 12,800 and 11,600 years ago."

Such a book could not have been written even a decade ago, as it relies extensively on recent research. It builds a broad and powerful case that the legends and world wide megalithic stone monuments around the world are the work of high technology Atlantians who survived a flood of 11,600 years ago that was caused by a massive comet collision centered on the ice cap that covered upper North America with two miles of ice.

I highly recommend the book ... and suspect that the ancient knowledge is still being passed down and used to reestablish such a high technology civilization on this planet.

Like growing an elaborate forest in the open desert, one can't "just do it". One must work the land and water and plant and animal habitat over a wide area for as long as it takes to build up that sort of life sustaining capacity.

This book will change your understanding of what's been happening on this planet for the last 12,800 years.

===

Back closer to topic, perhaps it is not so much that the "aliens" (really more these descendants of the Atlantians with their "magic from the gods") switched sides, as that they added a side, to better balance things and to take the Neocon-Zionist crowd, that was growing too dark with hubris, down a notch.

ThePythonicCow

20th December 2015, 21:05

Here is yet another sign of the times, suggesting yet again a sharp increase in Chinese influence over US monetary policy.

From U.S. Eases 35-Year-Old Real Estate Tax on Foreign Investors (http://www.bloomberg.com/news/articles/2015-12-18/u-s-poised-to-lift-35-year-old-real-estate-tax-on-foreigners):

=========

by Hui-Yong Yu, 18 Dec 2015

President Barack Obama signed into law a measure easing a 35-year-old tax on foreign investment in U.S. real estate, potentially opening the door to greater purchases by overseas investors, a major source of capital since the financial crisis.

Contained in the $1.1 trillion spending measure that was passed to avoid a government shutdown is a provision that treats foreign pension funds the same as their U.S. counterparts for real estate investments. The provision waives the tax imposed on such investors under the 1980 Foreign Investment in Real Property Tax Act, known as FIRPTA.

=========

(hmm ... I wonder if the author of that article is Chinese <grin>.)

promezeus

20th December 2015, 21:45

But when one Mafia family has been running rough shod over your town for a long time, it's difficult to avoid smiling when another Mafia family comes in and starts taking the first family down.
The corrupt and criminal Satanist Bank Cabal groups currently running rough shod over humanity were going to go down, hard.

Well paul and target, the following will give you a taste of just one of the wonderful 'new' and 'different' programs that your 'new' mafia owners have in store for you and us.

We can all celebrate now that the 'criminal, satanist' ones are going down hard. Enjoy......

http://www.blacklistednews.com/Keep_China%E2%80%99s_Creepy_%E2%80%9CSesame_Credit%E2%80%9D_System_Out_of_America/47913/0/38/38/Y/M.html

But there may be a new player in town. China has been rolling out a system colloquially known as “Sesame Credit”, in which citizens are scored not by their payment histories, but by their purchase histories, their political views, and their friends list.

ThePythonicCow

20th December 2015, 23:49

But there may be a new player in town. China has been rolling out a system colloquially known as “Sesame Credit”, in which citizens are scored not by their payment histories, but by their purchase histories, their political views, and their friends list.
Yes - some of us have been discussing that, over on this thread (http://projectavalon.net/forum4/showthread.php?87606-Sesame-Credit-Mandatory-by-2020--in-China-&p=1030472&viewfull=1#post1030472).

Since I don't read Chinese, much less have inside contacts with the powers that be in China, I have no way to validate this report.

It could easily be something that is less ominous, spun to keep us Americans afraid of Chinese tyranny.

Or it could very well not be.

And the American power structure could very well have similar mechanisms, just less visible ... less reported on in the ever so reliable American media.

As usual, we operate in a perpetual "fog of war."

One thing seems for sure ... the bastards in power didn't create the world wide Internet in order that we peons could be more aware and connected and difficult to manage. Quite the contrary.

ThePythonicCow

21st December 2015, 02:29

Major banks are cutting back, trimming their budgets, closing some operations and cutting jobs.
Another bank layoff: Citigroup To Cut 2,000 Jobs After Christmas (http://govtslaves.info/citigroup-to-cut-2000-jobs-after-christmas/):
Citigroup Inc. plans to cut at least 2,000 jobs starting next month as Chief Executive Officer Michael Corbat restructures some of the bank’s businesses.

The substantial portion will be in middle or back-office positions, according to a person briefed on the plans, who asked not to be identified discussing personnel matters. The reductions are part of a repositioning the firm announced this month and will occur across the New York-based lender’s global footprint, people familiar with the matter said.

ThePythonicCow

21st December 2015, 02:46

Here's another sign, from the geopolitical arena, that the Khazarian-Jesuit-Zionist-Rothshchild-Morgan-Rockefeller-Neocon bastards are being reined. The Humiliation Is Complete: Assad Can Stay, Kerry Concedes After Meeting With Putin (Zerohedge) (http://www.zerohedge.com/news/2015-12-16/humiliation-complete-assad-can-stay-kerry-concedes-after-meeting-putin):

As AP reports, "U.S. Secretary of State John Kerry on Tuesday accepted Russia's long-standing demand that President Bashar Assad's future be determined by his own people, as Washington and Moscow edged toward putting aside years of disagreement over how to end Syria's civil war."

"The United States and our partners are not seeking so-called regime change," Kerry said, adding that the focus is no longer "on our differences about what can or cannot be done immediately about Assad."

norman

21st December 2015, 23:25

I wonder what you people keeping this thread going think of this guy's ideas? Lyndon LaRouche..........

The early part of this video is a hate rant against Obama but later there are some listenable ideas in his thinking, and good questions asked.

http://www.youtube.com/watch?v=-M4zeRQeBPg

I doubt that whoever is running things would really let Americans take back their country, but it's worth thinking about, just in case they slip and opportunity pops up unexpectedly.

ThePythonicCow

22nd December 2015, 07:21

More news from the IMF - the times they are a changing :)

From Xinhuanet.com (http://news.xinhuanet.com/english/2015-12/19/c_134931912.htm): U.S. Congress ratifies IMF quota reforms.
WASHINGTON, Dec. 18 (Xinhua) -- U.S. Congress on Friday approved the long-delayed reforms to increase representation of emerging market economies in the International Monetary Fund (IMF).

The U.S. Senate and the House of Representatives on Friday passed a government spending and tax breaks package, in which the lawmakers ratified the five-year-old international deal to give emerging markets more saying in the international lender.

Christine Lagarde, managing director of the IMF, on Friday welcomed the adoption of legislation by the U.S. Congress to authorize the IMF's 2010 quota and governance reforms.

"The United States Congress approval of these reforms is a welcome and crucial step forward that will strengthen the IMF in its role of supporting global financial stability," said Lagarde in a statement on Friday.

The 2010 quota and governance reforms were approved by the IMF board in 2010. The reforms will double the IMF quotas and reallocated quota and voting shares in IMF away from advanced economies, primarily in Europe, to growing emerging market economies.

China will have the third largest IMF quota and voting share after the United States and Japan, and India, Brazil and Russia would be also among the top ten members of the IMF.

The reforms are the biggest change in the governance of the IMF since it was established and are a recognition of the increasing role that emerging markets play in the global economy. Despite repeated calls from the IMF and the international community, many U.S. lawmakers resisted the reforms and delayed the ratification of the reforms for years.
From TheGuardian.com (http://www.theguardian.com/business/2015/dec/17/imf-head-christine-lagarde-tfrench-trial-bernard-tapie-affair): IMF head Lagarde to face French trial over Tapie affair[/url]

Christine Lagarde, managing director of the International Monetary Fund, is to stand trial in France over a multimillion-euro government payment to a controversial tycoon who supported former president Nicolas Sarkozy.

Lagarde has been accused of “negligence by a person in a position of public authority” over the award of more than €400m to Bernard Tapie.
Ken, at RedefiningGod.com (http://redefininggod.com/2015/12/globalist-agenda-watch-2015-update-93-the-imf-is-being-prepared-for-the-nwo-transition/) speculates that both these events are signs that "The IMF is being prepared for the NWO transition".
I was a little surprised they did this, since I was expecting Congress to block the reforms all the way till the NWO transition point. But looking at the net results of the ratification, I see that it actually better serves the transition agenda, because…

> It doubles the amount of funds the IMF can lend out during financial crises, and this will come in quite handy as we enter the emerging market meltdown triggered by the Fed rate hike.

> It allows the 15th General Review of Quotas, which had been delayed by Congress’ previous lack of action on the 14th Review, to go forward just as we’re entering the Big Crisis. This will allow the globalists to restructure the IMF during the Crisis.

> It leaves America’s veto power intact, which will set the stage for the coming climactic showdown between the West and the East over “ownership” of the institution.

Looking at the last two points, two things seem fairly certain: 1) the 15th General Review of Quotas will leave the US with too small a voting share to have veto power over future IMF decisions, and 2) this will be used as a pretext for the US Congress to oppose its ratification. So how will the IMF get around Congress the next time?

promezeus

22nd December 2015, 14:51

here comes Paul's fog of war (http://www.usapoliticstoday.com/breaking-putin-tells-army-to-prepare-for-world-war-iii-with-u-s-in-syra/)

But I see only a stage play with paid actors

in a theatre, performing to an audience of programmed syncophants.

ThePythonicCow

23rd December 2015, 00:31

But I see only a stage play with paid actors

in a theatre, performing to an audience of programmed syncophants.
Indeed.

If one knows who is behind a theatre production, and their intentions, past actions, temperaments, and abilities, then one can see signs that are visible to the audience through out the production of what is hidden behind it.

But going the other way, trying to guess what is really going on behind the scenes, using only what the public audience is shown, is risky business at best.

promezeus

23rd December 2015, 00:57

But going the other way, trying to guess what is really going on behind the scenes, using only what the public audience is shown, is risky business at best.

Well If you don't see the 'trick', then you are left guessing.

But if you do see the 'trick', then you see it, period.

Maybe you can explain the 'trick' to someone who doesn't see it, but if they don't want to see the 'trick', then that's their choice isn't it.

People who are left brain dominant probably have more difficulty seeing thru illusions cause they don't 'believe' their right brain.

ThePythonicCow

23rd December 2015, 01:40

Well If you don't see the 'trick', then you are left guessing.

But if you do see the 'trick', then you see it, period.

Maybe you can explain the 'trick' to someone who doesn't see it, but if they don't want to see the 'trick', then that's their choice isn't it.

People who are left brain dominant probably have more difficulty seeing thru illusions cause they don't 'believe' their right brain.

If the 'trick' is singular ... just one layer of deception, then I suppose, yes, if you see through it, then you can see what really is.

But when the deceptions come in multiple layers, involving multiple and diverse "media" (the firmaments for trickery) then you might never see through all the deceptions, and even if you did, not know that you had done so.

===

As to brain dominance, if either "side" of the brain, rational or intuitive, is weak, that hinders insight. Finding the truth relies on multiple cooperating abilities.

Those locked in their intuitive brain can spout illogical nonsense, and those locked in their logical brain can spout clueless nonsense.

TargeT

23rd December 2015, 04:17

if you do see the 'trick', then you see it, period.
.

Seeing something and comprehending it are two very different things.

I see a LOT, but I comprehend (http://www.merriam-webster.com/dictionary/comprehend) very little in the "scope of the whole".

I waver in my conclusions from my random research (any topic from radiation, physics, free energy, ego, "their minds" and parasitic extra dimensional entities, electricity, metabolism, biomechanics, conspiracy, aliens, etc... where ever this wonderful internet takes me!) If there is a "trickster" it's a group that is influenced by a group, that is influenced by a group that may not be anything anyone is familiar with. Something that exists in a different "time" reference than we comprehend, something that can take decades, or centuries (doesn't really seem to matter) to accomplish a goal & will inevitably work towards that goal, though in predicable/non-creative ways utilizing the highest long term observational knowledge of our psychic tendencies.

OR, it's an inevitability that is being leveraged by opportunistic individuals that have the ability to see it and accept it.

I could go either way honestly.

ThePythonicCow

23rd December 2015, 05:26

You are being played for a fool. The east is no better, in fact the same as the west.
I'm not claiming the east is better than the west.

But when one Mafia family has been running rough shod over your town for a long time, it's difficult to avoid smiling when another Mafia family comes in and starts taking the first family down.
Here is an excellent report on what's going on within Russia, regarding the the Khazarian-Jesuit-Zionist-Rothshchild-Morgan-Rockefeller-Neocon-Jewish banksters, versus Putin, from the Saker, who I trust understands that situation far better than I do: Putin and Israel – a complex and multi-layered relationship (http://thesaker.is/putin-and-israel-a-complex-and-multi-layered-relationship/).

It's an excellent read; very informative. In short, in short Putin, as a Russian Christian nationalist, is doing internal battle within Russia against the Zionist controlled banking institutions. Putin has made significant gains over the last decade, and has strong popular support, but that opposition, has at times (such as earlier in the 1900 communist USSR, and again in the 1990's under Yeltsin) thoroughly dominated Russia, and still wields immense power.

ThePythonicCow

23rd December 2015, 07:42

Jim Willie has been forecasting that Saudi Arabia and other OPEC nations would begin accepting Yuan in trade for their oil, instead of demanding US Dollars. This would be a key milestone in the demise of the US Petro-Dollar.

From Algeria Latest News (http://algerienewsgate.over-blog.com/2015/12/algeria-will-use-yuan-for-her-trade-with-china.html): Algeria will use Yuan for her trade with China:

From December Algerian Chinese transactions will be settled in yuan , according to a note issued by the Bank of Algeria . Currently , transactions with this country are paid in US dollars.

"China has become the largest trading partner of Algeria , it is understood that regulations on imports from that country can not be settled in a currency other than that of the country. Especially since this formula eliminates premium for exchange risk coverage in the case of payment in another currency , "said the Central Bank.

The Bank of Algeria requires commercial banks to prepare for this change. "The first transactions will be executed in the month of December 2015.

On 30 November, the International Monetary Fund ( IMF) approved the inclusion of the Chinese currency in the basket of currencies used to set the value of special drawing rights (SDRs) - the assets of the Fund's international reserves , together with dollar , euro , British pound and Japanese yen .

From 1 October 2016 , when this measure is supposed to become reality , the 188 Member States of the Fund may exchange SDR against the five currencies say "freely usable" - dollar, euro, pound, yen and now the RMB - if they need to balance their balance of payments.

In 2014 Algeria imported for nearly USD 8,2 billion from China.
Algeria is the first OPEC nation to sell oil for yuan. It won't be the last. Saudi Arabia will surely follow soon.

===

In related news, XinHauFinance Agency (http://en.xinfinance.com/html/World/2015/175556.shtml) reported that "Bank of America-Merrill Lynch (BofA) recently expressed its concern that the unpegging of Saudi currency riyal with US dollar is a potential “black swan” event in 2016." When the House of Saud, which is under immense stress right now, depegs their currency from the Dollar, that will be another key milestone in the demise of the Petro-Dollar.

Lifebringer

23rd December 2015, 13:37

2025? So they "are" litterally betting 10 years into the future, then booby trapping the countries to crash the system when they can't pay. Hmmm...Who's to say they will be here in 10 years to collect? Creator knows every seed they sow, and it's broke's Ville for them.

promezeus

23rd December 2015, 15:09

I think this discussion can be summed up nicely by the proverbial phrase that many of us "can't see the forest for the trees".

ThePythonicCow

23rd December 2015, 20:49

I think this discussion can be summed up nicely by the proverbial phrase that many of us "can't see the forest for the trees".
What, in your view, is the forest that many of us aren't seeing?

ThePythonicCow

24th December 2015, 01:30

Another possible sign that the Banksters are going Down, from Zerohedge: The Big Short: "Every American Should See This Movie & Be F##king Pissed Off" (http://www.zerohedge.com/news/2015-12-23/big-short-every-american-should-see-movie-be-fking-pissed).

=========

The Big Short opens nationwide today. But it happened to have one showing last night at a theater near me. My youngest son and I hopped in the car and went to see it. I loved the book by Michael Lewis. The cast assembled for the movie was top notch, but having the director of Anchorman and Talledaga Nights handle a subject matter like high finance seemed odd.

The choice of Adam McKay as director turned out to be brilliant. The question was how do you make a movie about the housing market, mortgage backed securities, collateralized debt obligations, collateralized debt swaps, and synthetic CDOs interesting for the average person. He succeeded beyond all expectations.

Interweaving pop culture icons, music, symbols of materialism, and unforgettable characters, McKay has created a masterpiece about the greed, stupidity, hubris, and arrogance of Wall Street bankers gone wild. He captures the idiocy and complete capture of the rating agencies (S&P, Moodys). He reveals the ineptitude and dysfunction of the SEC, where the goal of these regulators was to get a high paying job with banks they were supposed to regulate. He skewers the faux financial journalists at the Wall Street Journal who didn’t want to rock the boat with the truth about the greatest fraud ever committed.

What makes the movie great are the characters, their motivations, their frustrations, their anger at a warped demented system, and ultimately their hollow victory when the entire edifice of fraud came crashing down on the heads of honest hard working Americans. The movie does not glorify the men that ended up making billions from the demise of the housing bubble. But it clearly defines the real bad guys.
...
Ultimately, it is a highly entertaining movie with the right moral overtone, despite non-stop profanity that captures the true nature of Wall Street traders. This is a dangerous movie for Wall Street, the government, and the establishment in general. They count on the complexity of Wall Street to confuse the average person and make their eyes glaze over. That makes it easier for them to keep committing fraud and harvesting the nation’s wealth.

This movie cuts through the crap and reveals those in power to be corrupt, greedy weasels who aren’t really as smart as they want you to think they are. The finale of the movie is sobering and infuriating. After unequivocally proving that Wall Street bankers, aided and abetted by the Federal Reserve, Congress, the SEC, and the mainstream media, destroyed the global financial system, put tens of millions out of work, got six million people tossed from their homes, and created the worst crisis since the Great Depression, the filmmakers are left to provide the depressing conclusion.

No bankers went to jail. The Too Big To Fail banks were not broken up – they were bailed out by the American taxpayers. They actually got bigger. Their profits have reached new heights, while the average family has seen their income fall. Wall Street is paying out record bonuses, while 46 million people are on food stamps. Wall Street and their lackeys at the Federal Reserve call the shots in this country. They don’t give a **** about you. And they’re doing it again.

=========

Part of taking down something is first turning it into "evil incarnate" in the eyes of the populace. That's one of the things that "big news" and "big media" can do, as in this movie.

Hazelfern

24th December 2015, 02:54

Thanks for all your work in keeping us abreast Paul.
Fondly yours - The Nonin

ThePythonicCow

24th December 2015, 06:05

Another fine Brandon Smith piece: What Fresh Horror Awaits The Economy After Fed Rate Hike? (http://www.alt-market.com/articles/2769-what-fresh-horror-awaits-the-economy-after-fed-rate-hike):

========

There is one predominant reality that must be understood before a person can grasp the nature of the Federal Reserve and the decisions it makes, and that reality is this: The Fed’s purpose is not to defend or extend American markets or the dollar; the Fed’s job is ultimately to DESTROY American markets and the dollar. I have been repeating this little fact for years because it seems as though many otherwise intelligent people simply will not accept the truth, which is why they have trouble comprehending the actions that the Fed initiates.

When analysts make the claim that the Fed has positioned itself "between a rock and a hard place" in terms of policy, this is not entirely true. The Fed is exactly where it wants to be in terms of policy; but the central bank has indeed positioned the U.S. ECONOMY between a rock and a hard place, by design.

Globalists see the U.S. dollar and the U.S. economy as expendable (for the most part), and this sacrifice is meant to create distracting chaos as well as geopolitical advantage towards a new fully centralized world economic system.

...
Market Turmoil Going Critical

...
The Fed Will Continue To Hike Interest Rates

...
Petrodollar Status Lost

...
Geopolitical Distractions

I do not see all of these economic developments taking place in an open vacuum. It makes far more sense for them to progress in the background during geopolitical upheaval with terrorism being the main distraction for the general public. I believe 2016 will be labeled the “year of the terrorist,” as ISIS attacks expand to every corner of the U.S. and in numerous EU nations. This “fog of war” is completely necessary to hide the actions of the most dangerous terrorists: international financiers and elites bent on morphing entire global political and financial structures into something more centralized and more sinister.

Other distractions are certainly possible, but there are far too many trigger points around the world at this time to make any kind of prediction as to which ones (if any) will be used. The false East/West paradigm continues and is useful in that it provides a rationale for the eventual dump of the U.S. dollar by Eastern nations (including China). Russian and NATO tensions could be used to foment regional wars or even a world war if that is in the cards. I do not see this as the endgame, though.

Rather, economic collapse is the greatest weapon at the disposal of globalists. National panic, riots, looting, starvation, magnified crime: All of these things result in mass die-offs and desperation. Desperation leads to calls for "strong leadership", and strong leadership usually results in totalitarianism. It might seem sensationalist to tie all of these possible outcomes to the Fed rate hike decision, but give it a little time. Those who make accusations of sensationalism and “fear mongering” today will be asserting tomorrow that such developments were “easily predictable.”

========

TargeT

25th December 2015, 13:40

we are SO ready for this situation....

Most Americans have less than $1,000 in savings
And over 20% don’t even have a savings account
http://ei.marketwatch.com//Multimedia/2014/05/06/Photos/MG/MW-CC696_saving_20140506182057_MG.jpg
Americans are living right on the edge — at least when it comes to financial planning.

Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey for personal finance website GOBankingRates.com. “It’s worrisome that such a large percentage of Americans have so little set aside in a savings account,” says Cameron Huddleston, a personal finance analyst for the site. “They likely don’t have cash reserves to cover an emergency and will have to rely on credit, friends and family, or even their retirement accounts to cover unexpected expenses.”

This is supported by a similar survey of 1,000 adults carried out earlier this year by personal finance site Bankrate.com, which also found that 62% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (26%), borrowing from family and/or friends (16%) or using credit cards (12%). And among those who had savings prior to 2008, 57% said they’d used some or all of their savings in the Great Recession, according to a U.S. Federal Reserve survey of over 4,000 adults released last year. Of course, paltry savings-account rates don’t encourage people to save either.

http://ei.marketwatch.com//Multimedia/2015/10/05/Photos/NS/MW-DV816_age_gr_20151005175202_NS.jpg

In the latest survey, 29% said they have savings above $1,000 and, of those who do have money in their savings account, the most common balance is $10,000 or more (14%), followed by 5% of adults surveyed who have saved between $5,000 and just shy of $10,000; 10% say they have saved $1,000 to just shy of $5,000. Just 9% of people say they keep only enough money in their savings accounts to meet the minimum balance requirements and avoid fees. But minimum balance requirements can vary widely and be hard to meet for some consumers. They can vary anywhere between $300 a month and $1,500 a month at some major banks.

Some age groups are less likely to have savings than others. Some 31% of Generation X — who are roughly aged 35 to 54 for the purpose of this survey — while being older and presumably more experienced with money than their younger cohorts, actually report a savings account balance of zero, which is the highest percentage of all age groups. Around 29% of millennials — aged 18 to 34 — and 28% of baby boomers — aged 55 to 64 — said they have no money in their savings account. Baby boomers (17%) and seniors aged 65 and up (20%) have the most money saved of any age group while less than 10% of millennials and approximately 16% of Generation X have $10,000 or more saved.
http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06

ThePythonicCow

25th December 2015, 14:59

we are SO ready for this situation....
Do I detect a note of sarcasm in your comment? :)

ThePythonicCow

29th December 2015, 17:14

Well, they "held it together" until year's end, meaning that the Fed's "interest rate increase" was not visible in the bond market ... until now, at year's end.

Today shorter term Treasury debt interest rates rose strongly, and the overnight general collateral rate is at 0.55% this morning, up from yesterday and the highest that it has been in over 7 years.

This is shrinking the spread between shorter and longer term debt, which has been a major source of income (life support, I'd claim) for the big banks, and likely (my hunch here, though I don't understand the details) a key underpinning of the derivative market in interest rate swaps.

The squeeze, foretold by the Fed earlier in December, is on ...

It's as if the Fed announced they were going to remove life support in early December, and now they have just pinched the IV tube with a clothes pin. The patient's vital signs have not changed ... yet ... but the local undertaker is preparing for some more business.

Details at Treasury Curve Collapses To Flattest In 8 Years (Zerohedge) (http://www.zerohedge.com/news/2015-12-29/treasury-curve-collapses-flattest-8-years).

TargeT

29th December 2015, 17:30

I took out "half" of my retirement (AKA stocks) this past spring and bought "stuff" (mostly a large off grid solar system for my house).

I'm starting to think this was a better idea than I had originally planned & bet by Q2/Q3 '16 I'll have even more reason to be happy with that decision.

We are at a pretty interesting point.. but how long before the boulder rolls down hill?
http://images.travelpod.com/users/rachandstu/1.1259937144.balancing-rock.jpg

I'm still no where near sure, though thinking further than a year or two seems unreasonable at this point (but then, you've been saying this for 10+ years right Paul?)

Lots of data points to 2016 though.....
UmUPtuXnimA

As Andy Hoffman from Miles Franklin recently noted there isn't enough time in a day to cover the runaway train, snowballing avalanche, out-of-control pandemic that is the “terminal phase” of history’s largest, most destructive fiat Ponzi scheme. But we'll try in this 2015 recap as 2016 comes barreling at us like a freight train Andy says, it will be an economically devastating year for millions of Americans.

ThePythonicCow

30th December 2015, 08:15

ThePythonicCow

3rd January 2016, 07:26

In Jim Willie's Interview with Craig Hemke of TF Metals (http://www.tfmetalsreport.com/podcast/7357/out-old-jackass), Jim clarifies a couple of things and add some new details.

In the last few months, Jim has been speaking of the trillion dollars a month of "reverse repos" that the Federal Reserve (Fed) has been doing. I have been describing these reverse repos as cash going from the banks to the Fed, and bonds going from the Fed to the banks. Jim has in the past been describing reverse repos in the opposite direction ... Fed gets bonds and banks get cash. I've been figuring Jim had it backwards. In this interview with Craig, Jim says just that ... he had it backwards. He corrected himself.

Jim then goes on to explain the significance of these reverse repos. The additional bonds that end up on the banks balanced sheet can be leveraged in the derivative market, while at the same time, the Fed's cash, via the Exchange Stabilization Fund and the US Treasury, can be used to buy up the bonds being dumped by other central banks. More and more, what had been a world wide market for US Treasury debt and US Dollars, in two of the largest, most liquid, markets on the planet, the bond market and the forex (foreign exchange currency) market is turning into counter balancing book entries between the Fed, the Treasury and a few large banks in New York, London, and Europe. The rest of the world is off loading Treasury debt in exchange for Dollars ... which they had better spend quickly, before it loses serious value.

In separate news, Jim points out that the widely acclaimed Fed rate hike of 0.25% a month ago was fake! They did not actually do it. My forecasts (and Jim's) that this hike would pull the pin on this epic leveraged monetary system's ultimate self-destruction aren't coming to fruition because of this hike, because there really wasn't such a hike.

Here's our world's Dollar/Treasury based monetary system, growing taller by the day, increasingly leveraged in fewer hands:

http://41.media.tumblr.com/6dd0fb6a0ee501f7172bc546ae800db2/tumblr_mt7kyesy7t1qzfsnio2_1280.jpg

TargeT

3rd January 2016, 18:50

In separate news, Jim points out that the widely acclaimed Fed rate hike of 0.25% a month ago was fake! They did not actually do it. My forecasts (and Jim's) that this hike would pull the pin on this epic leveraged monetary system's ultimate self-destruction aren't coming to fruition because of this hike, because there really wasn't such a hike.
][/INDENT]

Well.... I guess the can is kicked down the road for a bit longer then eh?

faking a rate hike is pretty ballzy... though if inter bank loans and if mortgage rates also rise, it doesn't really matter if the rate is faked or not...

ThePythonicCow

3rd January 2016, 19:07

faking a rate hike is pretty ballzy... though if inter bank loans and if mortgage rates also rise, it doesn't really matter if the rate is faked or not...
Well, the mortgage rates only matter to the little people ... to heck with them (oops ... that's us).

As to the interbank loans, the overnight Fed rate, that's part of the big game that is no longer, if it ever was, reported honestly to the public.

TargeT

4th January 2016, 23:51

Ugly monday.... liquidity issues already.....

Dow closes down triple digits, posts worst opening day in 8 years
U.S. stocks closed lower Monday, the first day of trade of the year, weighed by renewed concerns of global economic slowdown and increased tensions in the Middle East. An overnight drop in Chinese stocks that triggered a circuit breaker under a new rule also pressured sentiment.

"Anytime a big market stops trading and it spills over to Europe, investors are nervous," said Marc Chaikin, CEO of Chaikin Analytics.

"Ex-China we were expecting a positive (market). At the end of the day, except for a few companies like Caterpillar, this really shouldn't have an impact on our markets," he said.

http://www.cnbc.com/2016/01/04/us-markets.html

China Halts Stock Trading After 7% Rout Triggers Circuit Breaker
he worst-ever start to a year for Chinese shares triggered a trading halt in more than $7 trillion of equities, futures and options, putting the nation’s new market circuit breakers to the test on their first day.
Trading was halted at about 1:34 p.m. local time on Monday after the CSI 300 Index dropped 7 percent. An earlier 15-minute suspension at the 5 percent level failed to stop the retreat, with shares extending losses as soon as the market re-opened. Traders said the halts took effect as anticipated without any major technical problems.
http://assets.bwbx.io/images/ivyLv0LslwH8/v3/-1x-1.png
The world’s second-largest stock market began the year on a down note after data showed manufacturing contracted for a fifth straight month and investors speculated that the end of a ban on share sales by major stakeholders may come as soon as this week. Chinese policy makers, who went to unprecedented lengths to prop up stock prices during a summer rout, are trying to prevent financial-market volatility from weighing on economy set to grow at its weakest annual pace since 1990.
"This is a pretty dramatic start of trading for the year,” said Khiem Do, the Hong Kong-based head of multi-asset strategy at Baring Asset Management, which manages about $45 billion. “Some investors may have been unwinding their positions when trading volumes were light. That could have exaggerated the moves. The market has been very difficult to predict.”
Monday’s selloff rippled through regional equity markets, with Asian shares and U.S. equity-index futures extending losses. Chinese stocks’ influence on global markets has increased after the nation’s $5 trillion equity market rout, when the Shanghai gauge tumbled more than 40 percent from mid-June through its August low, rattled investor confidence in the world’s second-largest economy.

http://www.bloomberg.com/news/articles/2016-01-04/chinese-stocks-in-hong-kong-extend-annual-slump-as-yuan-declines

TargeT

10th January 2016, 07:34

Somewhere along the way the U.S. became a nation of truck drivers
http://www.marketwatch.com/story/keep-on-truckin-in-a-majority-of-states-its-the-most-popular-job-2015-02-09

+

What you need to know about autonomous trucking
http://enoble.com/index.php/2016/01/04/what-you-need-to-know-about-autonomous-trucking

will turn this crash from a minor discomfort to a disaster in a matter of months....... I'm guessing way sooner than predicted.

Don't forget:

Most Americans are one paycheck away from the street
http://www.marketwatch.com/story/most-americans-are-one-paycheck-away-from-the-street-2016-01-06

TargeT

12th January 2016, 19:25

China has been boosting it's GDP via corrupt government actions (over building) & now has upwards of 40+ ghost cities with an estimated 40million empty housing units.

So what ever economic numbers we've been seeing out of them are skewed & have been for years.
vZdBeczDLpA

but of course, that's not all china has going for it:
GrpAZ5qHSlU

TargeT

13th January 2016, 15:34

I filled my 26 gallon tank today for a fraction of what I used to pay... this is great, right?

tRCfHn4keH0

TargeT

14th January 2016, 15:43

The constriction just went one notch tighter...

$765,645,000,000: FY2016 Taxes Set Record Through December; $5,107 Per Worker; Feds Still Run $215.5B Deficit
CNSNews.com) - The federal government took in a record of approximately $765,645,000,000 in tax revenues in the first three months of fiscal 2016 (Oct. 1, 2015 through Dec. 31, 2015), according to the Monthly Treasury Statement released today.

That equaled approximately $5,107 for every person in the country who had either a full or a part-time job in December.

It is also an increase of about $24,288,810,000 in constant 2015 dollars from the $741,356,190,000 in revenue (in constant 2015 dollars) that the Treasury took in during the first three months of fiscal 2015.
http://cnsnews.com/s3/files/styles/content_100p/s3/tax_revenues_chart-fiscal_through_december-2016.jpg
As it was hauling in these record revenues, the Treasury spent approximately $981,190,000,000, and ended up the first three months of the fiscal year with a deficit of approximately $215,546,000,000, according to the monthly statement.

According to the Bureau of Labor Statistics, total seasonally adjusted employment in the United States in December (including both full and part-time workers) was 149,929,000. That means that the record federal tax revenue of 765,645,000,000 that the Treasury has pulled in so far this fiscal year already equals approximately $5,107 per worker.

In December 2014, there were 147,439,000 people employed in the United States. So, the then-record of $741,356,190,000 in revenues the Treasury pulled in during the first three months of fiscal 2015 (Oct.-Dec. 2014) equaled approximately $5,028 per worker.

http://cnsnews.com/news/article/terence-p-jeffrey/765645000000-fy2016-taxes-set-record-through-december-5107-worker

When you see a cliff, FLOOR IT!

At least you'll go out in a ball of glorious fire....

TargeT

20th January 2016, 16:37

the "wealth effect" haha.. they are creating terms now.... but at least they are seeing that the rate hike was terrible for the economy.

Dow falls 400, S&P at lowest level since late 2014 as oil slides
U.S. stocks traded sharply lower Wednesday as further decline in oil prices pressured global equities.

The Dow Jones industrial average held about 400 points lower in late-morning trade with IBM contributing the most to declines. The Nasdaq composite underperformed, briefly trading more than 3 percent lower.

The S&P 500 fell more than 2.5 percent to trade around 1,825, near its lowest since October 2014. ( Tweet This )

WTI briefly fell below $27 a barrel to hit its lowest level since September 2003. Traders said contract expiration around the 2:30 p.m. ET settle would likely contribute to volatility in oil markets.
http://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/charts/2016/01/1453300705_SPX_3yr_160119.jpg

http://www.cnbc.com/2016/01/20/us-markets.html

World faces wave of epic debt defaults, fears central bank veteran
Exclusive: Situation worse than it was in 2007, says chairman of the OECD's review committee
http://i.telegraph.co.uk/multimedia/archive/03553/money_3553453b.jpg
he global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned.

"The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up," said William White, the Swiss-based chairman of the OECD's review committee and former chief economist of the Bank for International Settlements (BIS). "Debts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for mischief," he said.

"It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something," he told The Telegraph on the eve of the World Economic Forum in Davos.

"The only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly. Debt jubilees have been going on for 5,000 years, as far back as the Sumerians."

http://www.telegraph.co.uk/finance/financetopics/davos/12108569/World-faces-wave-of-epic-debt-defaults-fears-central-bank-veteran.html

ThePythonicCow

2nd October 2016, 18:47

James Corbett, of The Corbett Report (https://www.corbettreport.com) has an important update and overview of what he sees happening with the global currency reset, available at SDR World Order (https://www.corbettreport.com/sdr-world-order/).

His analysis is fairly well aligned with JC Collins, the analyst named in this thread's title, and whose latest update on what's going on can be found at The New SDR is here! (http://philosophyofmetrics.com/the-new-sdr-is-here-freepom/).

Both Corbett and Collins see the major move being toward SDR denominated debt being the senior debt paper in the new monetary system, not Chinese Yuan denominated debt and not gold (though gold may become another "currency" in the SDR basket.)

The "exhorbitant privilege" of having one's national currency also serve as the world's senior debt currency is ultimately a burden to the bankers, to that nation, and to the world. The United States assumed that privilege after World War II, when all other major European and Asian nations were devastated by the war, leaving the US as the dominant world power and the necessary lender to others to fund their rebuilding. The US deserves no moral credit for its generous lending to various European and Asian countries after World War II ... this was another step in the Elite Bastards drive to get the entire world in debt ... to banks they control.

By Corbett's, Collins' and my view, human civilization will continue to use a debt-money system, in which money is lent into existence. This provides immense control over human civilization to the wealthiest and most powerful, who control the banks, the central banks, and the central bank of all central banks (the Bank of International Settlements, BIS, in Basel Switzerland).

Banks, central banks, and the BIS control what gets done by who receives loans, under what terms. They extract their "rent" so long as the lending continues, in the form of interest and sordid other fees and penalties. Then they extract the revenue streams (such as tax revenues and utility fees), the resources (such as the minerals, oil, timber and farm produce), the indebted labor of bankrupt borrowers, the ownership of corporations, and the political control of nations) on the way down, when, at a time of their choosing, they cut off the supply of "easy money", by calling in existing loans and tightening the criteria for new loans.

The boom-bust cycle of debt-money has become the dominant cycle affecting human activity, not the weather.

This role, as the creator of the world's money, by lending it into existence, controlling who will be lent how much, setting the terms of repayment, and controlling the terms of default, foreclosure or repossession of that debt or whatever was offered as security for that debt, is truly the real "exhorbitant privilege".

===

A key parameter in any such debt money system is what are they denominated in ... what do you (an individual, corporation or nation) need to make payments on the loan.

For my entire lifetime (I was born shortly after the end of World War II) this has been, predominantly, US Dollars (Federal Reserve Notes.) Many a nation or large corporation, in the last half century, has failed when they could not acquire sufficient US Dollars to meet their debt payments.

===

There is another key parameter, which has a history even longer than our current debt-money system. How is trade settled?

Our debt-money system came to be in its current form with the founding of the Bank of England in July 1694 (http://www.bankofengland.co.uk/about/Pages/history/default.aspx). But trade over large distances has occurred for thousands of years prior to that, and with such trade, as soon as it exceeds what can be settled with common barter (my furs for your spices, or whatever), the question comes into being: how will a trader be paid for the goods they deliver to a remote port or city? There must be a generally acceptable medium of exchange, something of value, that traders, suppliers, and buyers will all agree to use, to value their various goods and to provide or accept in exchange, at the agreed value. Prior to the Bank of England and the world-wide British Empire in the following centuries, this medium of exchange was gold and silver. The Uniform Commercial Code represents the current codification of the rules of such commecial activity. Over time, through the evolution of the British, then the American, empires, this has changed, to debt-money, which for my lifetime has meant the King (US) Dollar.

===

Three (at least) major issues need to be resolved in order to make this transition to a new world monetary system, based on some other debt denomination, in place of US Dollar denominated debt:

In what will new major debt be denominated?
By both Corbett's and Collins' analysis, it will be in SDR units. In the view of Jim Willie, of the Hat Trick Letter (http://goldenjackass.com/), another analyst I follow, we are returning to a gold (and silver and other such resource) backed monetary system. If I had to bet between these two alternatives, I'd bet on the SDR units ... but I 'd also hedge my bet.

How will existing debt be settled?
There is much US Dollar denominated debt. This includes "paper assets" such as promised social services, pension plans, and stock and real estate equity. I do not recall Corbett or Collins covering this difficult question in much detail. Given the truly stupendous amount of such outstanding "promises to pay" something to someone in US Dollars, this is a monumentally difficult question. In my view, many of those promises will default entirely, or to pennies on the dollar. That which cannot be paid ... won't. Debt or promises owed to the world's most powerful, or to their primary fronts (as China is becoming for the world's banksters and merchants, in my estimation) will be repriced from US Dollars into gold (at the ratio of about $US 5000 to one ounce of gold, in Jim Willie's view) or perhaps to some SDR basis (an alternative that also seems plausible to me.)

How will trade be settled?
What will a container ship or oil tanker's captain accept in payment, when they dock with cargo to unload? If suitable payment is not provided, the captain will not order the ship to be unloaded. We live in a connected world that depends on world trade. Already I am reading scattered reports of ships not unloading, or of (US Navy) ships being unable to purchase fuel at foreign ports of call, due to payment in US Dollars not being accepted. As with the reconstitution of US Dollar denominated debt, Jim Willie expects "gold trade notes" (gold backed paper) will be the new standard for payment in trade, and I an open to the possibility of something denominated in SDR's that can be exchanged for any of the (now five) major national currencies in the SDR basket at predictable rates will become the standard for payment in trade.

ThePythonicCow

2nd October 2016, 22:46

By Corbett's, Collins' and my view, human civilization will continue to use a debt-money system, in which money is lent into existence.
That is, in the longer term (3 to 20 years,say), a key question.

Will the central bank controlled debt-money system continue, just with (yet another) change in the unit of indebtedness, from the US Dollar, to various SDR based units, and with a change in the fundamental asset, from US Treasury debt to SDR denominated debt?

... or will the central bank controlled debt-money system collapse.

David Stockman, starting at 36:11 (https://youtu.be/6kzYTNktHSs?t=36m11s) in the following video, anticipates that the central banking model (and implicitly, though he doesn't call that out), the debt-money model, will fail, and we will return to gold:
6kzYTNktHSs
Jim Willie, one of my favorite analysts (he's a hoot to listen to, and he is quite honest, competent and properly cynical in his work) also expects a return to gold based money. Many gold-bugs, who are more interested in selling gold or gold mining shares or such, have similar views, though less well motivated or thought out.

I suspect that Stockman, Willie, and the gold-bug hucksters are wrong, in part.

We all agree that the US Dollar will fall from its King Dollar Global Reserve status to just another national currency of a nation that is economically troubled and that suffers from a woeful imbalance of trade and continued weakening of their currency, until such time as America can rebuild its manufacturing and production base, and/or downsize their standard of living to that which their current third-world industrial capacity can support.

But I don't agree with Dave Stockman or Jim WIllie that the next world monetary system, once the dust settles, will be a real gold based money. There may well be some gold added to the SDR basket, joining the major currencies, the Dollar, Pound, Euro (or its successor), Yen and Yuan. But that will be a token presence for gold, of significant interest only to perhaps a few elite. The ordinary person, corporation or nation will get their money by borrowing it into existence, or by taxing someone else who borrowed it, or by selling some good or service to someone who borrowed it (or by stealing it <grin>), just as happens now.

I suspect that the primary "generic asset" that animates trade, contracts (which includes derivatives), savings, and "capital" investment will continue to be debt-paper -- someone's promise to pay something, someday, somehow.

A century or more ago, people would hoard gold if they had extra income that they wanted to save up for a rainy day or for a golden opportunity. Nations would maintain gold reserves, so that they could fund trade imbalances, monetary expansion, armies, and whatever else might be needed or sought.

Nowadays, people and nations hoard bonds, with US Treasury debt being the "gold standard" of bonds, when they have the opportunity, or need, to put something aside for the future.

===

I put capital in quotes above because there are two different meanings for "capital":

The more classical meaning of "capital" is the tools, reputations, expertise, infrastructure, live stock, land, seeds, buildings, roads, ports, ships, ... that can be developed over time to increase the productive capacity and the ability to survive disasters and difficulties.

The more recent meaning of "capital" is a stash of whatever is the "generic" form of wealth, be that gold, British gilts, US Treasury bills, notes and bonds, or SDR denominated debt, or of items that can be converted easily into such generic wealth, such as stocks and other bonds or debt paper.
The first form of capital actually does something for you. My computers and my computer education are some of my personal capital, as are the bags of rice and beans in my pantry.

The second form of capital is facing a major reset, as the basis for denominating the world's debt-money is converted from the US Dollar to SDR derivatives.

===

I expect that the result of this major reset will not be the demise of debt-money, but a change in the basis of our debt-money, from US Dollar denominated debt, to SDR denominated debt.

... unfortunately.

TargeT

3rd October 2016, 00:34

awee man, I was hoping for a few years of hyper inflation to help pay down my loans... maybe next time

PathWalker

3rd October 2016, 14:37

ThePythonicCow

3rd October 2016, 20:20

In the following video, Martin Armstrong has an excellent counter-point to the views of myself and others, that I've presented above.
sQwwgxnmcc8
Bonds are where the money is. Every debt has two parts: Party A has gotta pay, and Party B expects to get paid. The resulting debt paper, such as in bills, notes, bonds, mortgages, etc, is the primary store of "generic" wealth in our civilization. US Treasury debt is the King of the hill, the "gold" of our monetary system.

Some of us in the "alternative" media have pointed out that China is issuing the first SDR denominated debt, as described in this article at Epoch Times: What China’s SDR Bond Issue Really Means -- This is the first step toward one world currency (http://www.theepochtimes.com/n3/2138603-what-chinas-sdr-bond-issue-really-means/), or in this article at ZeroHedge: In Historic Event, China Sells First World Bank SDR-Denominated Bonds In Decades (http://www.zerohedge.com/news/2016-08-31/historic-event-china-sells-first-sdr-denominated-bonds-decades).

Notice the amounts of this new Chinese debt issue - about $3 Billion worth.

The US Treasury issues about that much new debt paper every single day. There is some 5000 or 10000 times that much US Treasury debt paper in circulation, on the books of nations, central banks, major banks and corporations and others. Perhaps a quadrillion dollars worth of contracts, derivatives, and such are based on such debt paper.

When Jim Willie addresses this short fall, he expects that perhaps all the existing contracts, reserve assets, and other such, now written in US Dollar terms, will be converted to gold terms, over a couple of years, at perhaps a $5000 / ounce of gold conversion rate.

It would be far easier to convert the US from its arcane Imperial system for measuring distance (feet and miles), and weight (ounces and pounds), to the more rational metric system. Far easier ... and we tried doing that a few decades ago, and failed.

Let's face it ... Martin Armstrong may well have a good point here ... we first face a global depression and deflation, as our current capital (the monetary form of capital) system collapses. This is the nature of debt-money systems. They are the ultimate Ponzi scheme. This is how the great empires of the world come to their demise.

And, unlike after World War II, this time there will be no Yankees from America to save the world's arse. No one is left who is suffiicently stronger and untethered to this sinking monetary ship to ride to the rescue.

take

4th October 2016, 09:56

Thanks Paul, I hadn't listened to Jim Willie before, here's an eccellent (in my view) interview with him about a lot of things, but especially the chinese yuan/SDR/gold/bonds/markets etc issues.
Very interesting stuff. Just putting this out here: TCIZKsp5Mxw
EDIT: added youtube info:
IN THIS INTERVIEW:
Jim Willie's forecasts currently playing out:
- NATO is fracturing ►1:34
- Russia and China are totally capturing Greece and Turkey ►6:07
- EU commission becomes ignored and are becoming irrelevant ►8:51
- RMB short term note will be launched with a gold backing that kills the US treasury bill ►13:17
- IMF to back the SDR with gold ►21:54
- Saudi oil sales and the death of the petrodollar ►30:03
Past forcastes that played out or are becoming true:
- Saudis to accept RMB currency from China (not quite yet, but OPEC nations in Nigeria & Algeria already) ►40:53
- The US goverment confiscation of pension funds (in steps) (seen with US goverment worker pensions, lately with money market funds)
►40:53
- USTreasury Bond 10-yr yield decline to 1.5%, and later to 1.0% (first part done, second part in progress) ►53:38

ThePythonicCow

4th October 2016, 12:43

In the following video, Martin Armstrong has an excellent counter-point to the views of myself and others, that I've presented above.
Usually, from what I can see, Martin Armstrong avoids tying specific events to specific time frames. He will be vague about either one (such as what will happen) or the other (such as when it will happen).

But in this article today Gold – Dollar – Bonds (https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-dollar-bonds/), Martin comes right out and says:

==========

QUESTION:

Do you believe US dollar has been kept artificially lower than it should be (or at least in long range trading range) by at least two central banks lately? if so how long you think it would last, years?

ANSWER:
Yes. The central banks have been trying to keep the dollar down because a rising dollar will undermine Europe exposing the ECB total failure, and then there is the risk of major sovereign defaults among emerging markets who issued their debt in dollars. The IMF has lobbied hard with the Fed pleading not to raise rates for this fear of capital pouring into the dollar. They do not appear to be able to sustain this policy beyond January.

Gold is not something to avoid. True, institutions cannot buy gold for they earn no income. Gold is really for the individual and it will eventually be the hedge against government and the change in the monetary system which could come as early as 2018 but by 2020 if on schedule.
==========

(I added the bold highlighting.)

TargeT

4th October 2016, 19:23

Some interesting games going on here...

British stocks fell agonizingly short of an all-time high on Tuesday as optimism grew that the country's exporters and multinationals will benefit from the pound's slide to another 31-year low against the dollar.
http://www.apnewsarchive.com/2016/The-pound-has-dropped-a-31-year-low-in-early-trading-as-markets-showed-their-disdain-for-the-British-government-s-plan-to-start-the-process-of-leaving-the-European-Union-by-the-end-of-Ma/id-764e37e6652e43fbbfaaac7467e66e99

ThePythonicCow

5th October 2016, 18:02

In reading an important article from F. William Engdahl just now, I realized something basic.

The most common "alternative" view of the US Dollar monetary system is that the US government (and/or its central bank, the Federal Reserve) is "just printing" money, like Monopoly money.

I've made some effort to disagree with this view ... fiat money, such as the US Dollar is not "printed" into existence. It is lent into existence. US Dollars are one half of a pair of "double entry accounting" ledger entries.

A banker coming to work with nothing but the rumpled suit he wears can create two corresponding and off setting items:

a credit to some borrower (perhaps as cash, a check, or a deposit in a bank account), and
a promise from the borrower to repay (perhaps as a loan document, mortgage, or bond), with fees and interest, that amount in the future, often with "real" property put up as security, in case the borrower defaults on the repayment terms.
This is how money is created, by lending it into existence, to individuals, corporations and governments, large and small.

Following from the (false, I claim) view that our current monetary system is "just printing money", the next meme in the common alternative view is that we need to get back to actually backing our money, once again, with something "real", such as gold.

No. I disagree.

I expect that the "next" world money will be another variant of a debt-money system, not a fundamentally gold backed system, and in perhaps another 80 years, this "next" system will be having its own existential crisis, as debt-money systems are wont to do.

Rather, the fundamental value backing our money is future productivity.

So long as there actually is future productivity sufficient to pay off debts in "real" items (labor, resources, food, water, energy, transportation, manufacturing, services, ...) of promised value, then that debt is potentially healthy. Once more is promised to be paid, than exists to pay, in any "real" and useful form to the holder of the debt paper, then that debt loses value. We are seeing this with pension, retirement and social security plans in the U.S.: more is promised in such retirement benefits to the Baby Boomers of my era than is available for them. What cannot be repaid ... won't.

One of the two keys to a healthy monetary system is the presence, with healthy maintenance, of a sound production base, sufficient to fund repayment of the debt that is used to fund the system.

This is not gold backing. This is future productivity backing.

This is where F. William Engdahl's article comes in. In his article The Eurasian Century is Now Unstoppable (http://journal-neo.org/2016/10/04/the-eurasian-century-is-now-unstoppable-2/), he lays out his observations of what China and other Asian countries are doing to build the foundation for an expansion of healthy economic activity, over the next century or so, across the Europe-Asian land mass. He opens his article stating that he has just "returned from a fascinating two week speaking tour in China. The occasion was the international premier of [his] newest book, One Belt, One Road–China and the New Eurasian Century."

This documents, briefly and in readable style, the true basis of the "next" world monetary system. The next world monetary system will not be based on gold, nor on the British Navy, nor on the US Military-Industrial-Intelligence complex and its ability to corner, at various times, critical arms, world agriculture, manufacturing, war, oil and drug markets. Nor will it matter much whether the "most liquid" debt-paper at the base of this "next" monetary system is denominated in SDR's or Yuan. What will matter, in coming decades, is that the outstanding debt is less than the productive capacity of those repaying the debt (which includes funding promised retirement programs and social services.)

Must of the existing debt, including real estate bubbles in the US, China and elsewhere, and including promises of retirement and social service funding, and including car, stock market, health service and education loans, will fail, across most of the world's economically active regions. The old debt will die, some by default and some by inflating the "real" value of the currency of repayment to near zero. The Banksters and their overlords and their minions will once again use this occasion to extort more control over "real" wealth, resources, capital, and revenue streams.

New debt will be issued, relying on a rebirth of productivity, centered in Eurasia, founded on the build out being led by China that F. William Engdahl documents for us.

So long as productivity exceeds debt, the debt-money of the "next" world monetary system will remain fundamentally sound.

(The other key to a healthy monetary system is stopping the Elite Bastards of the world, via the International Banksters, from continuing to leverage the "exhorbitant privilege" of their critical role as "Money Masters" in human activity, controlling the expansion, terms, and contraction of money and debt, for their own benefit and continued increase of control of humanity. Whether the dominant money in the world was gold, pounds, dollars or SDR's and yuan, Banksters have been engineering Boom and Bust cycles now for centuries at least, to their own benefit. I don't expect this to change in my lifetime, nor my son's lifetime. May yet one more of my forecasts be proven woefully misguided <grin>.)

In short - F. William Engdahl documents for us what will be the basis for a new era of economic productivity. That will be the basis for the new world monetary system, not gold.

As with the Pound and then with the Dollar,, and so with the "new" world monetary system, debt-money systems are fundamentally based on economic productivity remaining in excess of promised debt repayments.

We have had, and we will have again, a debt-money system, not a precious metal monetary system.

We have had, and we will have again a debt-money system that is, at its heart, controlled by the Banksters and their Overlords.

The old debt and promises are collapsing, so far in a "slow burn" (as Catherine Austin Fitts calls it) punctuated by increasingly wild oscillations of instability, but perhaps soon enough in a more dramatic controlled demolition, or even catastrophic collapse.

(Unless Gail the Actuary (https://ourfiniteworld.com/author/gailtheactuary/) is right, and energy becomes more expensive once again, as a ratio of useful energy extracted over energy spent to extract it, throttling future productivity. )

ThePythonicCow

6th October 2016, 03:36

Once more is promised to be paid, than exists to pay, in any "real" and useful form to the holder of the debt paper, then that debt loses value. We are seeing this with pension, retirement and social security plans in the U.S.: more is promised in such retirement benefits to the Baby Boomers of my era than is available for them. What cannot be repaid ... won't.
These examples of social welfare programs and pension plans are not really the lending into existence of money, but rather other means by which excessive promises are made against future productivity.

There are a variety of ways in which this is done.

Medical and insurance plans promise future benefits, if certain events happen.

Taxes are collected for social programs and retirement plans that promise future benefits.

Stock market futures and options, interest rate swaps and foreign exchange swaps (derivatives) also promise future returns if certain events occur.

As with the loans (bonds, mortages, and other loan papers) generated when new money is lent into existence, these other promises also entangle the future, and depend on future productivity continuing to be sufficient to both meet existing needs and to payout on these promises.

Once productivity falls too low, these promises can no longer be fully honored.

The fraud runs deep, and is deeply entangled, world-wide. That loan which cannot be repaid, won't. The promise that cannot be kept, won't.

As Brandon Smith wrote today: The Noose Is Tightening Quickly On The Global Economy (http://www.alt-market.com/articles/3030-the-noose-is-tightening-quickly-on-the-global-economy).

Flash

6th October 2016, 06:52

Thanks Paul for this thread. Although I do not comment on it, I always read it.

Your last post seems interesting to me. It makes sense that a debt/credit economy should be entirely based on promises of future productivity. Hence the listing of every social/birth number on the stock market upon birth. Countries like Canada relying on their natural resources are now litterally bought out by the Chinese. So Asia will have the natural resources (as they actually do in rare metals) and the workforce, therefore mastering the economy. Hard and soft means related to future productivity. Either Chinese are very bright and us quite stupid (comes in mind the relinquishing of the control of the internet to be taken up by the Chinese), which is not the case, we are not that stupid, or the transfer of apparent control has been planned a while ago.

It reminds me of hearing that the Chinese were dominated by another reptilian of the reptilians than the western world and that if control had to be relinquished, Chinese domination would be attempted, hence remaining under reptilians. While Russia was under control of another race altogether.

In any case, a debt based economy linked to future productivity promises that are never entirely met IS a slave based economy, not natural resources based (gold). And, an economy based on slavery will not allow for free energy or anything freeing the slaves. Rome never freed its slaves.

We are heading for another thousand years of slavery for the 99%, under Apparent Chinese control. In this case, we are stupid to let the Russians align with the Chinese instead of making them our friends.

I personally prefer slavery under the US based control because although it is still slavery, it is much softer and believe it or not, less corrupted than anything Chinese will ever be.

The question however is how do we become free?

Note to myself: i have to reread this text of mine, I am not sure I make sense although I know what I am seeing.

ThePythonicCow

6th October 2016, 10:23

The question however is how do we become free?

Note to myself: i have to reread this text of mine, I am not sure I make sense although I know what I am seeing.

Your words make sense to me.

The struggle for human freedom continues.

Cara

6th October 2016, 10:55

Analysis of Deutsche Bank within global financial system and some speculation towards the end about possible motivations of different players.

(Bold blue text is my emphasis)

From the Corbett Report (https://www.corbettreport.com/deutsche-bank-europes-ticking-time-bomb/

***********************************

Deutsche Bank: Europe’s Ticking Time Bomb
Corbett • 10/05/2016 • 6 Comments

https://www.corbettreport.com/wp-content/uploads/2016/10/nif_deutsche.jpg

You have no doubt heard by now about the precarious situation that Deutsche Bank finds itself in, including the impending US government fine (http://www.reuters.com/article/us-germany-deutsche-bank-idUSKCN1220NA) for selling faulty mortgage-backed securities in the run up to the financial crisis. The lamestream media is busy running stories about German bailout rumors (http://www.reuters.com/article/us-germany-banks-idUSKCN11Y1FH), and bank’s uncanny ability to not quite die (http://www.theaustralian.com.au/business/opinion/alan-kohler/the-amazing-survival-so-far-of-deutsche-bank/news-story/89259f106d190ea059ece1f83421e10c)…yet. But in case anyone is tempted to draw comparisons with the 2008 financial crisis, rest assured that the failure of Deutsche Bank would be no “Lehman Bros. moment.” It would be incomparably worse.

Deutsche Bank is not just one of the largest banking and financial services companies in the world (although it is that). It is also one of the most inter-connected banks in the world. As the IMF helpfully pointed out (https://www.imf.org/external/pubs/ft/scr/2016/cr16191.pdf) earlier this year:

“Deutsche Bank is also a major source of systemic risk in the global financial system. The net contribution to global systemic risk is captured by the difference between the outward spillover to the system from the bank and the inward spillover to the bank from the system based on forecast error variance decomposition. Deutsche Bank appears to the most important net contributor to systemic risks in the global banking system, followed by HSBC and Credit Suisse. Moreover, Deutsche Bank appears to be a key source of outward spillovers to all other G-SIBs as measured by bilateral linkages.”

And here is the handy dandy diagram they provided to demonstrate those “bilateral linkages” that could contribute to “outward spillovers” to the other “G-SIBs” (that’s “globally systemically important banks” to all of you not versed in Bankster-speak):

https://www.corbettreport.com/wp-content/uploads/2016/10/Screen-Shot-2016-10-04-at-3.47.43-PM.png

But more to the point, this doesn’t just mean that their CEOs play golf together every year or two. These linkages include derivatives counterparties. What this diagram is really showing us is that when/if Deutsche Bank goes under it will create a derivatives black hole that threatens to draw in most of the largest financial institutions in the world…each one of which would then create its own black hole of derivatives debt.

Now you’ll remember that derivatives are bets on the performance of some other thing, like an asset, index, interest rate, etc. Like any bet, it can happen between two or more people and things can get very messy when one of the people involved doesn’t have the money to pay up in the end. But derivatives can get even more wild, since the amounts in question can add up to trillions of notional dollars (http://www.investordictionary.com/definition/notional-amount), i.e. money that does not actually change hands…unless everything falls apart and someone is left holding the bag.

https://www.corbettreport.com/wp-content/uploads/2016/10/wmfd.png
This is why Warren Buffett famously referred to derivatives as “weapons of mass destruction (http://www.fintools.com/docs/Warren%20Buffet%20on%20Derivatives.pdf).” This is also why the 2008 crisis was so severe. If AIG had not been bailed out then its $527 billion in credit default swaps with Goldman Sachs, Morgan Stanley, Bank of America and Merrill Lynch (as well as DB and dozens of other European banks) would have unwound and potentially brought down the global financial system. And so the banksters held the proverbial (or not-so-proverbial) gun to Congress’ head and achieved the largest bailout in corporate history (https://www.thenation.com/article/aig-bailout-scandal/).

So if all of that was done on the basis of AIG’s half-a-trillion or so in counterparty risk, what are we looking at with Deutsche Bank?

Well, in 2013 its notional derivative exposure was 55.6 trillion euros. Let’s put that in perspective with a graphic (http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/04/German%20GDP%20vs%20DB%20Derivatives_1_0.jpg) from ZeroHedge comparing DB’s derivative exposure to the Gross Domestic Product of Germany.

https://www.corbettreport.com/wp-content/uploads/2016/10/German-GDP-vs-DB-Derivatives_1_0.jpg

Does that look frightening? Well, don’t worry. Deutsche’s derivative black hole has been pared back to a much more modest 46 trillion or so euros, a mere 15 times German GDP.

Does that make you feel any better? I didn’t think so.

Well, maybe this will make you feel better: In the wake of the 2008 meltdown, the banksters put their heads together to come up with some new regulatory guidelines for containing the derivatives exposure mess. These changes were articulated by the G20 at the 2009 Pittsburgh conference. While the protesters outside were being abducted in broad daylight (https://www.youtube.com/watch?v=G8CNa_viKg0) and being introduced to the LRAD (https://www.youtube.com/watch?v=QSMyY3_dmrM), the banksters’ political puppets were busy hammering out the following (http://www.g20.utoronto.ca/2009/2009communique0925.html):

“All standardized OTC derivative contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties by end-2012 at the latest. OTC derivative contracts should be reported to trade repositories. Non-centrally cleared contracts should be subject to higher capital requirements.”

(Interestingly, this idea was first proposed in a white paper (http://www.bis.org/publ/qtrpdf/r_qt0909f.pdf) published by the Bank for International Settlements (yes, that Bank for International Settlements), then announced at the G20, then handed off to the Financial Stability Board (http://www.fsb.org/wp-content/uploads/r_101025.pdf) (which I’ve discussed before (https://www.corbettreport.com/greek-bail-in-cometh-as-eu-tightens-control/)) to insure compliance, and then adopted by the individual central banks (http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2013/qb1302ccpsbs.pdf) that make up the BIS membership (http://www.bis.org/about/member_cb.htm). And that in a nutshell is how global marching orders are given without the need for an explicit “global central bank” with authority over everyone.)

So theoretically this new regulatory regime, combined with the fact that many of Deutsche Bank’s derivatives will be hedged by other trades, will mean that we won’t be looking at a 46 trillion euro black hole if Deutsche goes under…

…Unless.

https://www.corbettreport.com/wp-content/uploads/2016/10/deutscheaxe-768x612.jpg
Unless the regulations that the banksters enacted to “control” the derivatives problem were mere window dressing to distract the public while the banksters carry on with their world-threatening casino games (http://www.telegraph.co.uk/business/2016/05/01/warren-buffett-issues-a-fresh-warning-about-derivatives-timebomb/).

Unless the IMF, which went to great pains to single Deutsche Bank out as the most precarious bank in Europe, might have ulterior motives for destabilizing the existing financial order and bringing in one governed by their own soon-to-be global reserve instrument (https://www.corbettreport.com/sdr-world-order/).

Unless the US government has its own reasons for pulling the rug out from under the ECB by imposing a fine that they know would cause Deutsche to go under.

Unless the ECB actually welcomes such an event (and the recalcitrance of Germany to bail the bank out) as an excuse to flex its muscle and intervene directly with a miracle bailout that “saves the world” in the nick of time.

But we all know such august institutions as these would never cause a crisis in order to benefit from it (https://www.corbettreport.com/never-forget-the-central-banks-have-engineered-this-collapse/), would they?

And on a completely unrelated note, Deutsche Chief Executive John Cryan is in Washington this week to meet with US officials on the sidelines of the IMF’s annual meeting. Sleep tight, everyone!

Flash

9th October 2016, 22:31

TargeT

9th October 2016, 22:46

Has anybody seen this about China and its currency and what it means for the world financial health?

I am not that litterate in finance, so some help in genuine laymen terms would be welcome

http://www.youtube.com/watch?v=JtOmnZdVFQM

Since there are now 8 currencies instead of 7 in the IMF lending "basket" all the currencies currently in the basket will have to give up value to make room for the 8th (the US is expected to loose 2-3% value,, the EU will take the worst hit); all currencies in the IMF basket except for china's will suffer.

The SDR bonds represent a very very rare monetary tool, which has not been used in over 30 years; it's usage now is indicative of moves to dethrone the USD and replace it with the SDR as world reserve currency (this will hurt the US).

It's basically ushering in the "non-county specific" currency as the "world reserve currency" which is basically step 1 to global control (gotta have a global currency first!, then comes global government!).

the SDR will be the "solution" portion of the Hegelian dialect events which will occur in the future.

Yetti

10th October 2016, 01:39

What is very scary is the fact that WE ,as a country ,are on the verge of a serious financial disaster, FED RES printing money out of thin air, to cover mistakes over mistakes, for DECADES>>>> hey, in one point we will fail economically in the global spectrum. By the other side Asia, ( mostly China) is well prepared for a crisis, they have the money ( gold) and the resources, and the infraestructure to go on.. in the same moment WE have 85% of our industrial capacity overseas NOT in US soil, and basically broken. If you can do simple matematics on a kitchen table, you'll be scare too. Don't believe me? Ok so go to the nearest HOME DEPOT and see with your own eyes how many tools and good are made in usa.............. and repeat the homework at Wallmart.... . Then think : just 25 years ago if you conduct the same task you will see about 70 to 80% of the articles made here in us, . So our workforce was beaten badly by wrong cartel like policy's, driving the people ( us ) on the survival mode for long time.
An yes, a global economic resess is coming , the big question here is: are the promoters of this the same guys with different names? BITCOIN , AMERO, you name it. Who is going to control it?

Flash

10th October 2016, 01:58

Thanks TArget for your answer, i thought I had catch what you explained, but truly was not sure of it. Thanks

Yetti, to confirm your point, when I need appliances or even dishes set, I go in thrift stores to look for old stuff, manufactures in Canada or USA, because they still work fine and won't brake, versus Chinese scrap.

What is very scary is the fact that WE ,as a country ,are on the verge of a serious financial disaster, FED RES printing money out of thin air, to cover mistakes over mistakes, for DECADES>>>> hey, in one point we will fail economically in the global spectrum. By the other side Asia, ( mostly China) is well prepared for a crisis, they have the money ( gold) and the resources, and the infraestructure to go on.. in the same moment WE have 85% of our industrial capacity overseas NOT in US soil, and basically broken. If you can do simple matematics on a kitchen table, you'll be scare too. Don't believe me? Ok so go to the nearest HOME DEPOT and see with your own eyes how many tools and good are made in usa.............. and repeat the homework at Wallmart.... . Then think : just 25 years ago if you conduct the same task you will see about 70 to 80% of the articles made here in us, . So our workforce was beaten badly by wrong cartel like policy's, driving the people ( us ) on the survival mode for long time.
An yes, a global economic resess is coming , the big question here is: are the promoters of this the same guys with different names? BITCOIN , AMERO, you name it. Who is going to control it?

TargeT

10th October 2016, 05:39

when I need appliances or even dishes set, I go in thrift stores to look for old stuff, manufactures in Canada or USA, because they still work fine and won't brake, versus Chinese scrap.

This is the saddest statement (and completely true). We both (canada and the us) have (modernly) sold ourselves out for profit and in return received vastly inferior products. I watch a lot of independent Youtube creators (I specifically look for the ones that do not accept corporate money, yet do reviews on what is currently "sold" to us) and what I have seen being sold to both countries (the reviewer I mostly watch is canadian) is so F'n sad, consumers are being taken advantage of on a scale that is almost unbelievable yet.... yet completely understandable from my point of view.

NO ONE is willing to do their own research and due negligence anymore, all that has to be done is branding, get the branding right and people will be fooled into buying what you sell.

Our psychology i so well understood by the systems we live in it's insane, we are (en mass) almost literally corporate puppets.

That's exactly why these bold currency moves are being done DIRECTLY under our noses.

ThePythonicCow

11th October 2016, 19:04

On reading the following article today on ZeroHedge, it seems to me that Jim Willie (and others, including myself at times <grin>) are wrong in expecting the New World Monetary System to manifest in its full glory anytime soon (2016 or 2017, say.)

Rather before one can rebuild the world's monetary system, from its current foundations (US Treasury and other AAA debt denominated in US Dollars or closely related currencies, at present) on up, one must first destroy the existing system. China, Japan, Europe, and the U.S. ... all must and will be devastated, economically and monetarilly. SDR or Yuan or whatever denominated debt cannot be built up to the level needed to fund a new world monetary system, until first the existing system is laid to waste.

(Keep in mind here that debt-paper is the great asset of a debt-money system. Yes, someone owes that debt, but someone else expects to collect on that debt and holds their monetary wealth in various forms dependent on that debt paper.)

Even within China, which operates on an apparently separate, national, monetary system, all the major current capital, both the physical infrastructure, cities, factories and mines, and the monetary reserves and currency, are deeply entangled with existing export trade with Europe and the U.S. and deeply entangled with US Dollar denominated assets. The Chinese Yuan has been and remains closely tied to the U.S. Dollar. The primary reserves held by Chinese banks are denominated in Dollars and Euros, and include still a large stash of U.S. Treasury debt.

China is converting as rapidly as it can its monetary capital into physical and political capital, which will be of great value in the next world monetary, political and economic system. They are setting forth on new "Silk Roads" to build Euro-Asian infrastructure and good will with other nations.

China has far more control over its own internal financial and monetary demolition and reconstruction than say the European Union does, or for that matter than even the U.S. itself does. So they will emerge as the dominate world power in the next "new world order". China could declare some form of debt jubilee, wiping out vast swaths of wealth, and endebtedness, where the EU or the US cannot do similarly (so will do so anyway, the hard way.)

First we will witness a controlled demolition that will make the events of 9/11 (2001) look like a child knocking over his sibling's tower (twin towers?) of blocks. If the existing political regime in China gets in the way of this controlled demolition, they too will be wiped out or co-opted. The Elite Bastards behind the throne(s) will (or at least intend to) perservere, and will do so, unless even greater powers, manifest perhaps through the awareness and actions of billions of "ordinary" humans, realizing that they aren't so "ordinary" afterall, prevail instead.

Here's the article from ZeroHedge, laying forth China's internal problems. China had a "Cultural Revolution" a half century ago. Now they will have an "Economic and Monetary" revolution. Many yuan denominated assets (real estate, bonds, deposits, incomes, cash flows, ...) will go to their graves, before all is done.

Chinese Banks Will Need $1.7 Trillion To Cover Bad Debt Deluge, S&P Calculates (ZeroHedge) (http://www.zerohedge.com/news/2016-10-11/chinese-banks-will-need-17-trillion-cover-bad-debt-deluge-sp-calculates)
The mammals did not replace the dinosaurs some 60 million years ago, until first some great cataclysm from the skies wiped out the dinosaurs. But the mammals were present, small in size and few in number, in the underbrush, before the cataclysm, awaiting their turn. Similarly the seeds of the New World Monetary System must be sown, before the Old World Monetary System (the US Dollar hegemony) is blown up.

ThePythonicCow

12th October 2016, 00:30

(Keep in mind here that debt-paper is the great asset of a debt-money system. Yes, someone owes that debt, but someone else expects to collect on that debt and holds their monetary wealth in various forms dependent on that debt paper.)
It's worse than that, actually.

They get you coming and going and then penalize you with austerity for your failings.

When a bank lends money into existence, they get:

repayment, with interest of course,
foreclosure or repossession of the collateral when the economic/financial collapse (that they caused by retracting lending) makes repayment impossible, and
the benefits of imposing austerity conditions ("privatization" of a nations resources, production and revenue streams) as penalty for the collapse (that they caused.)

This wonderful article spells it out better than I recall seen anywhere else: Don’t Worry About The ‘National Debt’ (http://www.alt-market.com/articles/3033-dont-worry-about-the-national-debt).

The article concludes:

Moral decay, economic crisis, and all wars are created with bank credit. Needless to say, the hour is late, but not too late if only we are willing. The truth can be known.
Our huge national debt is a measure (an incomplete one at that) of how much money they've already stolen from us. The more they steal, the worse the penalty that they will claim they are justified in imposing on us.

norman

22nd November 2016, 21:40

Nomi Prins Explains The Central Bankers' Game of Thrones

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Published on Nov 22, 2016
SHOW NOTES AND MP3: https://www.corbettreport.com/?p=20523

Today James talks to Nomi Prins, author of books like All The Presidents Bankers, about her recent article "The Central Bank Power Shift from West to East, Game of Thrones Style." We talk about the changing economic and monetary landscape and how the locus of central bank power is shifting to the East, with players like the People's Bank of China gaining in prominence and former US/EU lapdogs like the IMF becoming brokers for these new power players in the new world financial order.

Satori

24th November 2016, 02:55

If I've done this right the link that follows is to a YouTube video dated 2006 done to the music of Every Breath You Take by Police. It is a comment on the Fed and Bernanke. Slightly dated, but appropo and very well done. Well worth about 4 minutes of your life, I think.

https://m.youtube.com/watch?v=ipJTqCbETog

Cara

1st December 2016, 06:36

I couldn't find a thread specifically looking at digital currency and blockchain for this article. This thread seems most suitable....

//
Another Nation Has Developed a National Currency That’s Entirely Digital (https://futurism.com/another-nation-has-developed-a-national-currency-thats-entirely-digital/)

In Brief
Senegal has become the second country in the world to introduce a blockchain-based digital currency called the eCFA.
After Senegal, WAEMU will introduce the eCFA in Cote d’Ivoire, Benin, Burkina Faso, Mali, Niger, Togo and Guinea-Bissau.

Going digital
The country of Senegal has announced it will be issuing its own national digital currency based on blockchain technology, the same technology powering Bitcoin. Senegal’s new eCFA digital money will have legal tender status alongside the CFA paper money it currently uses.

Blockchain allows financial transactions to be transparent and more secure. But unlike Bitcoin, using digital money backed by blockchain still allows governments and central banks to control the flow of currency, and dictate how much is in circulation.

The eCFA was made possible by a collaboration between Banque Régionale de Marchés (BRM) and Dublin-based blockchain startup eCurrency Mint Limited. The currency will be distributed solely by the Central bank, and has passed e-money regulations set by the Central Bank of the West African Economic and Monetary Union (WAEMU).

Transparency and Security
Senegal is actually the second country to introduce a blockchain-based digital currency. Tunisia replaced its original self-made digital currency eDinar, and developed an eDinar version that uses blockchain technology. Both of these show Africa’s promise to be the testbed of new fintech.

So, what’s all the fuss with blockchain? Basically, Blockchain is the tech that powered Bitcoin. It provides a secure digital ledger of transactions, distributed and decentralized so there is no opportunity for tampering.

http://www.youtube.com/watch?v=r43LhSUUGTQ
The system has been adapted by several industries. Singapore, China, Sweden, and many other countries are considering their own blockchain-based digital currencies. Banks are using blockchain to record and handle transactions. Essentially, any and every industry that could do with more transparency and security is looking at adapting blockchain tech.

In fact, after debuting in Senegal, the eCFA will also be introduced by the WAEMU to the other countries that use the West African CFA franc: Cote d’Ivoire, Benin, Burkina Faso, Mali, Niger, Togo and Guinea-Bissau.
//

From: https://futurism.com/another-nation-has-developed-a-national-currency-thats-entirely-digital/

norman

13th January 2018, 19:59

We Are Now Heading Into The Economic Reset, Everything Is About To Change:London Paul

dOaa5PQPNLY
https://yt3.ggpht.com/-lxJ3CDYn3VM/AAAAAAAAAAI/AAAAAAAAAAA/CorQ6WfQ90c/s88-c-k-no-mo-rj-c0xffffff/photo.jpg (https://www.youtube.com/channel/UC1rnp-CySclyhxyjA4f14WQ)
X22Report Spotlight (https://www.youtube.com/channel/UC1rnp-CySclyhxyjA4f14WQ)
Published on 13 Jan 2018

Today's Guest: London Paul

London Paul runs an independent news website with the purpose of giving an alternative perspective on mainstream news regarding recent developments that are shaping a new political, economic and social paradigm Websites: The Sirius Report

Gemma13

26th January 2018, 01:10

Haven’t listened to entirety of the vid linked above by Norman but find it excellent commentary – the first 10mins gives a brief summary analysis on Trump and political global strategies.

Last 17 mins (@1:00:00) talks about the unlikely event of a successful WW3 ignited by the cabal; the importance of gold back currency and how solid Russia and China are which eventually the US will join at some point. Claims Russia and China don’t want to destroy the US they just want to destroy the Cabal.

Paul and financial minded members could you please comment (in as much non-financial minded speak as possible for the likes of me :confused:) on what BASEL IV [could/does] mean to our global banking institutions and subsequently governments and citizens. Thank you. (I found a brief reference to Basel IV via TWH in reference to global financial reset piquing my interest.)

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

Basel IV is a contested term used to describe the changes agreed in 2016 and 2017 to the international banking standards known as the Basel Accords; regulators argue that these changes are simply completing the Basel III reforms, agreed in principle in 2010-11, although most of the Basel III reforms were agreed in detail at that time. Critics of the reform, in particular those from the banking industry, argue that Basel IV require a significant increase in capital and should be treated as a distinct round of reforms.

https://www.mckinsey.com/business-functions/risk/our-insights/basel-iv-whats-next-for-european-banks

A new report finds that European banks will need more capital under the so-called Basel IV reforms. While rule making continues, banks can take no-regret measures now.
The changes proposed by the Basel Committee on Banking Supervision (BCBS), currently a mix of consultation papers and finalized standards, would rework the approach to risk-weighted assets and possibly internal ratings, as well as set regulatory capital floors. According to our analysis, if European banks do nothing to mitigate their impact, these rules will require about €120 billion in additional capital, while reducing the banking sector’s return on equity by 0.6 percentage points. This impact is much greater than initially anticipated and will be a game changer for the European banking industry.

Our new report, Basel “IV”: What’s next for banks? (PDF–1,996KB), provides a comprehensive perspective on the capital and profitability implications, with recommendations on how banks should react. It not only examines the latest status of BCBS changes (as of March 2017) but also considers efforts by the BCBS to harmonize capital calculations under Pillar 1. Our results consider the effects on a sample of 130 European banks drawn from the latest European Banking Authority transparency exercise, in 2016.

The repercussions will vary, depending on banks’ geography and business model and will require actions tailored to the individual bank’s circumstances. Banks will likely have to take some unconventional measures to comply. Potential phase-in arrangements are still under discussion and may not take full effect until 2025. While policy makers deliberate, banks should create transparency based on the expected rules, define mitigating actions, and start implementing no-regret measures, while also managing appropriately the expectations of rating agencies and investors.

Download the full report on which this article is based, Basel “IV”: What’s next for banks? (PDF–1,996KB).

https://www.mckinsey.com/~/media/mckinsey/business%20functions/risk/our%20insights/basel%20iv%20whats%20next%20for%20european%20banks/basel-iv-whats-next-for-banks.ashx

BASAL IV - WHAT'S NEXT FOR BANKS?

EXTRACT: First, banks need to create transparency on divisional contributions to scarce regulatory resources (capital, funding, and liquidity) and their consumption. This is a complex task that should not be underestimated. Some of the required metrics are typically not found in existing IT systems in a consistent, ready-to-be-used state. To fully understand the balance sheet at a group level, banks need to be able to quantify the aggregated impact of divisional and product characteristics – only then can they figure out how to adjust the balance sheet to optimize performance.

Several leading banks have started to use advanced modeling and optimization approaches to understand the evolving regulatory requirements. This process is typically interactive, in that strategic direction and business mix define the parameters of the modeling, and the model can help quantify feasibility and implications of a chosen strategic direction. Once the review is complete, the businesses that remain in the portfolio must adjust their business models to the new capital realities. Some businesses may require only small adjustments, while others will be fundamentally changed.
Banks should also undertake these strategic reviews:

Foxie Loxie

30th January 2018, 23:28

BASAL IV? :confused:

Cara

29th March 2018, 17:52

Well, I don’t know if this might be part of a “currency reset”, but it certainly seems as though it might.

A Gold-linked dollar bill has just been presented in the USA Congress – H.R. 5404 - by Representative Alexander X. Mooney of West Virginia
https://www.congress.gov/bill/115th-congress/house-bill/5404/actions?r=4

TargeT

2nd April 2018, 12:52

Well, we knew this was coming, and it will be Yuge!

QQxncGeGT68

The first step anyway... Dollars will still be used for the actual purchase, but the futures will be denominated in Yaun; which is clearly just priming the system for selling directly with Yaun and an get others to do the same (rumors are china will switch this year to pure yaun payments).

Link to the Article mentioned in the video. (https://steemit.com/china/@corbettreport/the-petroyuan-was-born-this-week-here-s-what-it-means)

This seems to be a potential pivot point for the world economy, if it is allowed to continue (not sure how it will stop).

ThePythonicCow

30th April 2018, 03:09

JC Collins (the one named in this thread's title) has a new article out, further describing how he expects the global monetary reset to unfold, and the role of China, their renmimbi currency (denominated in yuan), and the role of cryptocurrency, especially Ripple (XRP) in that reset and future monetary system.

JC Collins only posted a couple of opening paragraphs of this article on his own website: https://philosophyofmetrics.com/the-emerging-crypto-establishment/, leaving the rest for paying subscribers.

But he also posted his article in its entirety on the XRPChat.com website, at: https://www.xrpchat.com/topic/23075-the-emerging-crypto-establishment/

Rather than yet another national currency serving as the dominant Reserve Currency, as happened in past centuries with the currencies of Holland, Spain, France, Britain and now the US, JC Collins expects that a broad variety of currencies and payment systems (such as Visa, PayPal, the Federal Reserve, Western Union, MoneyGram, Standard Chartered, JP Morgan, the Bank of England, or SBI ... as listed in an earlier 12 March 2018 article (https://thedailycoin.org/2018/03/12/the-real-world-potential-of-ripple/) of his) will be linked together using Ripple's Interledger protocol, with separate liquidity providers for the cross between Ripple XRP and each of these currencies and systems.

JC Collins is clear that China does not want their Renmimbi currency to follow in the steps of the Dollar, Pound, Franc, and earlier reserve currencies. That eventually does great damage to the finances of the nation providing the reserve currency, due to the conflicting tensions placed on the currency to be both a nation's currency and a dominant reserve currency.

His article begins with these words:

THE EMERGING CRYPTO ESTABLISHMENT

New American-Sino Monetary and Geopolitical Relations

By JC Collins

The empty streets, homes, and commercial spaces of China’s ghost cities are starting to come alive. The vast building of empty cities by Chinese civil and cultural planners over an almost two decade span was considered by most in the West to be an example of overbuilding in a closed economy, an economy which was decades away from functional levels of maturation. Few considered the possibility that China was engineering one of the greatest socioeconomic plans in human history.

It ends with:
The blockchain services offered by Ripple and the adoption of its XRP crypto asset are much more developed than is widely known or acknowledged. America, as the world’s largest debtor nation, and China as the worlds largest creditor nation, both maintaining the largest trade deficit and trade surplus respectively, will have to agree on the structural framework for a new monetary architecture, or ecosystem. With Ripple providing that decentralized and frictionless service, both nations are on the verge of transforming the world’s monetary and financial realities.

The social credit blockchain grid is descending on China’s ghost cities as the test run for the societies of tomorrow. Transforming 300 million rural pheasants into a vibrant middle class is no small feat. But with worldwide liquidity about to expand on top of the crypto ecosystems, and the seamless movement of value around the world, with no mind to borders, while nations maintain their own unique sovereignty, we can begin to glimpse the first signs of a much bigger future than any of us could have imagined.
It's well worth a read: THE EMERGING CRYPTO ESTABLISHMENT -- New American-Sino Monetary and Geopolitical Relations (https://www.xrpchat.com/topic/23075-the-emerging-crypto-establishment/)

TargeT

30th April 2018, 19:29

a friend of mine that's an investment nerd made about 22% of his crypto portfolio by shorting Xrp....

But maybe that was just a head fake and the future will be bright, my friend said this:

It's a corporate controlled coin, centralized. It's also premined
so it makes sense why china would want it...

He also said this:

XRP coins in an exchange XRP wallet could be remotely disabled. They can also be tracked down to every breaker transaction.
It's the anti-freedom crypto currency.

Ba-ba-Ra

12th June 2018, 00:30

http://www.youtube.com/watch?v=BUauXDb0crg

ThePythonicCow

11th April 2019, 00:39

As Brandon Smith wrote today: The Noose Is Tightening Quickly On The Global Economy (http://www.alt-market.com/articles/3030-the-noose-is-tightening-quickly-on-the-global-economy).
I posted the above mention of Brandon Smith two and a half years ago, in Oct 2016.

Brandon Smith is still at it, and still providing some of the best analysis that I know of, regarding the sunset of the US Dollar as the world's "reserve currency", and the likely rise of a more blatantly world monetary system, controlled by the likes of the BIS, IMF, World Bank and UN.

In his latest piece, Brandon observes that the Globalists Are Bringing Their One World Currency Plans Out Into The Open (http://www.alt-market.com/articles/3716-globalists-are-bringing-their-one-world-currency-plans-out-into-the-open).

Just as the British Pound Sterling went from being the world's most traded and respected currency in the 1800's, to being just another national currency, so will the US Dollar ... and now that the Globalists are being more open about their plans, this suggests that the Globalists are nearing the point of making this obvious to all, and that they figure they are past the point of anyone being able to stop them.

===

My personal forecast (warning: my forecasts are almost always wrong) is that the world financial, monetary, and economic system won't seriously blow up, at least not in the U.S., for another year and a half, holding together long enough for President Trump to be re-elected in November of next year, 2020. Trump is playing ball with the globalists (not including Clinton's and associates) and is doing so reliably, on many fronts. Red State (aka Republican), fly-over (not on the east or west coast), 2nd amendment (gun owning) America trusts Trump, and this is a group you don't want getting too rebellious on you. So I expect that Trump is re-elected, and then the Monetary Reset comes to America, big time.

ThePythonicCow

13th May 2019, 01:55

My personal forecast (warning: my forecasts are almost always wrong) is that the world financial, monetary, and economic system won't seriously blow up, at least not in the U.S., for another year and a half, holding together long enough for President Trump to be re-elected in November of next year, 2020. Trump is playing ball with the globalists (not including Clinton's and associates) and is doing so reliably, on many fronts. Red State (aka Republican), fly-over (not on the east or west coast), 2nd amendment (gun owning) America trusts Trump, and this is a group you don't want getting too rebellious on you. So I expect that Trump is re-elected, and then the Monetary Reset comes to America, big time.

Here's a deceptively perceptive analysis of the world's US Dollar based monetary system from Santiago Capital CEO Brent Johnson, originally filmed on May 29, 2018 in San Francisco.

Brent Johnson anticipates that the US Dollar will continue to rise, against other currencies, until sometime in 2020 or 2021. This will be increasingly painful to nations, companies and individuals outside the U.S. who owe money denominated in U.S. Dollars.

The "petro-Dollar" is becoming "dollar denominated debt currency" ... increasingly needed by those outside the U.S. to make payments on existing U.S. Dollar denominated debt.

For decades, the best way to get Dollars to make debt payments was to sell stuff into the world's largest market - the U.S. At the same time, the primary source of U.S. Dollars into the global financial markets were the U.S. Fed and Treasury.

But now, with collapsing economies world-wide, starting with the weaker, more indebted nations first, with collapsing world trade (thanks, MAGA Trump), and with the major repatriation of the U.S. Dollars held by global corporations back into the U.S. (thanks to the "Trump tax cut"), the U.S. is exporting fewer Dollars and importing more of them.

===

There's an analogy that I have enjoyed using, over the last several years, to explain this.

Imagine a hundred story high skyscraper, that is undergoing controlled demolition (while still occupied). Imagine that this demolition is planned to start at the top of the building, with one story at a time collapsing onto the story below (rather like the WTC twin towers supposedly collapsed on 9/11). Imagine that the underlying ground corresponds to gold, and the first floor (building has no subterranean basements) corresponds to the U.S. Dollar. For a while during the collapse both the surrounding ground (gold) and the first floor (the U.S. Dollar) will have an increased number of people, escaping from the collapsing higher floors. Unless we return back to the stone age or some such, the first floor will be the last to collapse, and the surrounding ground will remain solid.

===

Regarding the timing of the final collapse of the U.S. Dollar, after a global depression has first enveloped the rest of the world, Brent Johnson comes to about the same conclusion I did, for different reasons. I expect that the U.S. Dollar and stock markets will hold until at least after Trump is re-elected next year in November of 2020, whereas Brent Johnson observes that it usually takes 18 to 24 months from when the U.S. Treasury market yield curve inverts to when there is a major U.S. financial and market collapse. Both these indicators lead to a U.S. collapse late 2020 or sometime 2021.

Before the U.S. collapses, many other nations and regions need to collapse (decline dramatically) first.

===

Anyway, here are four presentations by Brent Johnson over the last year of his Dollar Milkshake theory:

https://www.realvision.com/tv/shows/the-expert-view/videos/the-dollar-milkshake-theory

https://soundcloud.com/user-537393339/a-milkshake-of-destruction-with-brent-johnson

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===

I think that Brent Johnson has nailed it, and that he makes an excellent point that the end of the U.S. Dollar as the world's "reserve" (aka, primary unit of debt and trade) currency will NOT be due to Weimar Germany or Zimbabwe style hyperinflation.

The U.S. has an option that Germany or Zimbabwe didn't have. Thanks to the many trillions of dollars (Brent says twenty trillion) of debt owed by nations, companies and individuals outside the U.S., the U.S. can force the value of the Dollar higher in foreign exchange markets, by drying up the supply of Dollars. This the U.S. is doing, and will continue doing, until the dire state of the rest of the world's economies and markets makes that impossible. Only then will the U.S. be forced to abandon it's position atop of the world's monetary system.

ThePythonicCow

30th May 2019, 18:10

Regarding the timing of the final collapse of the U.S. Dollar, after a global depression has first enveloped the rest of the world, Brent Johnson comes to about the same conclusion I did, for different reasons. I expect that the U.S. Dollar and stock markets will hold until at least after Trump is re-elected next year in November of 2020, whereas Brent Johnson observes that it usually takes 18 to 24 months from when the U.S. Treasury market yield curve inverts to when there is a major U.S. financial and market collapse. Both these indicators lead to a U.S. collapse late 2020 or sometime 2021.
Brandon Smith, whose track record for insightful analysis and prescient forecasts far exceeds the products of my modest abilities, expects that the collapse will probably begin in earnest this year, 2019, rather than in late 2020 or early 2021 as I predicted above.

Here's another most excellent article from Brandon, which I offer for your reading pleasure: Globalists Only Need One More Major Event To Finish Sabotaging The Economy (http://www.alt-market.com/articles/3779-globalists-only-need-one-more-major-event-to-finish-sabotaging-the-economy):

=============

Globalists Only Need One More Major Event To Finish Sabotaging The Economy

Wednesday, 29 May 2019 04:35 Brandon Smith

As I predicted in my article 'Trump Trade Wars A Perfect Smokescreen For A Market Crash' (https://www.alt-market.com/articles/3389-trump-trade-wars-a-perfect-smokescreen-for-a-market-crash), published in March of 2018, as well as in my article 'The Trade War Distraction: Huawei And Linchpin Theory' (http://www.alt-market.com/articles/3600-the-trade-war-distraction-huawei-and-linchpin-theory), published in December of 2018, the US/China trade dispute has escalated into an all out war with no end in sight. The claims of many analysts and skeptics a year ago that the trade war would be over quickly and that China would fold to US tariffs has been proven incorrect. The reason why these analysts got it so wrong centers primarily on their misunderstanding of the true purpose behind the events.

The goal of this war is NOT to balance the US trade deficit or pursue more fair circumstances for US exports and imports. The intention of the Trump Administration is NOT to fight back against Chinese “exploitation” of US markets, this kind of rhetoric is pure theater. Nor is it Trump's intention to undermine globalist structures or agreements in order to bring back American manufacturing (a carrot that has been flaunted in front of American faces for a long time to lure them into supporting destructive policies such as dollar devaluation). On the contrary, the real purpose of Trump's trade war is to provide a distraction massive enough to cover for the controlled demolition of the US economy and parts of the global economy by globalists and the central banks they control.

The tariff soap opera and most of Trump's other foreign and domestic policies are eerily similar to those of Herbert Hoover just before the advent of the Great Depression. This is not a coincidence. The narrative for an economic collapse rivaling that of the Great Depression has been set, and the root circumstances are very similar.

Since the crash of 2008, the US has been suffering a slow grinding decline in fundamentals (the collapse of an empire often takes time). The response of central banks was to slow the crash using stimulus measures and near zero interest rates, but this strategy was not meant to reverse US economic decline. The purpose of QE was meant to inflate an even larger bubble than before, one that would encompass every aspect of the economy including the dollar; a bubble that when popped would devastate the US specifically and create panic around the world.

Now the stimulus phase of the globalist agenda is over. US M2 money supply growth (https://ycharts.com/indicators/m2_money_supply_growth) has been decelerating and is hovering near 10 year lows, while stimulus measures have evaporated in most countries except China. Global dollar liquidity has been dwindling as the Federal Reserve continues to cut its balance sheet unabated.

This would explain why US equities are struggling to stay afloat despite the fact that corporate buybacks of stocks have increased to historic highs (https://www.cnbc.com/2019/03/25/share-buybacks-soar-to-a-record-topping-800-billion-bigger-than-a-facebook-or-exxon-mobil.html) in 2019. Central banks, most importantly the Fed, are no longer propping up the system; the life support has been pulled and the parts of the economy that have been dependent are taking their last breaths.

The trade war situation as it is now is not enough of a distraction in my view, however. At least one more major event with global ramifications (or perceived global ramifications) is needed by the elites before they can implode the 'Everything Bubble' without taking the blame for the consequences.

Trade War Shock And Awe

There are several powderkegs that exist today that would serve the purpose of occupying the minds of the masses while the globalists finalize the crash. As noted, I continue to predict the trade war as it stands will accelerate unabated until the plunge in fundamentals and equities is complete. We haven't seen anything yet as far as trade war chaos.

The US/China conflict has the potential to become an economic world war, with multiple countries beginning to take sides. Japan and the UK have opted to support US interests, which is not surprising since China and Japan have hated each other for generations and the US is the UK's strongest economic partner in the wake of the Brexit. Already some people are declaring this to mean that the US will gain the majority of global support and crush China.

But keep in mind, as I outlined and evidenced in my recent article 'America Will Lose The Trade War Because That Is What Globalists Want To Happen' (http://www.alt-market.com/articles/3761-america-will-lose-the-trade-war-because-that-is-what-globalists-want-to-happen), the trade war itself is a farce on both sides of the Pacific, as both China and the US are controlled by the same financial power centers (such as the Bank for International Settlements). The fact that some people are jumping on the patriot bandwagon to cheer for expanded confrontation with China as if a globalist engineered war is a war we can "win" is disturbing and sad to witness. My suspicion is that there is a concerted disinformation campaign in play on the internet to drum up the false impression of consensus support for the trade war while the activities of the real villains (the international banks) are ignored.

As this Kabuki theater moves forward, I think many analysts will find themselves shocked as more and more nations start taking China's side in the conflict.

The most powerful option China has at its disposal is the dumping of US Treasuries and the dollar as the world reserve mechanism, but it is likely to use this tactic only when the US economy is at its most unstable. China is the number one exporter/importer in the world and the US consumer is ready to tap out as retail numbers stumble and household debt skyrockets. The US market is only 18% of Chinese exports, a sizable piece of the pie, but hardly a devastating blow to the Chinese economy should it be denied to them.

The bottom line is that China will ultimately dictate global trade terms as they possess the largest manufacturing base, they decide what currency they will accept, and whose debt they will prop up. China has also established very close economic ties with key nations over the past decade, including Russia, Germany, India, Australia, and even Saudi Arabia. Do not be surprised if most if not all of these nations eventually support China in the trade war, dropping the dollar as the reserve currency and following China's lead.

Skeptics of this outcome are pretty much the same people that originally claimed the trade war would be over by now and that Trump would be victorious. They will cry foul today at the idea that the globalists have rigged the game and that the US is being set up to fail, but when they are shown to be wrong once again they will state proudly that they "saw it coming all along".

China has yet to fully retaliate against the latest increase in US tariffs. When it does, the attack will be far larger than cutting off purchases of US agricultural goods. The next escalation could be the trigger than sends the crash into overdrive.

Iran War Looming

War with Iran at this time makes no sense whatsoever unless you look at it from a globalist perspective. The globalists are the only group that stands to gain from such catastrophe, as war with Iran would seal the fate of the US economy. The most immediate threat would be the potential shutdown of the Straight of Hormuz by Iran, which would take nothing more than sinking a few large cargo vessels along the narrow and more shallow portions of the straight, placing mine fields, or staging anti-ship missiles within striking range. The subsequent explosion in oil prices would be devastating to the global economy and the US economy would struggle under high energy prices even with expanded domestic oil drilling.

In the longer term complete destabilization of the Middle East would result, well beyond what we have already seen, and the costs to taxpayers as well as the cost in American lives would be high. Beyond this, the distraction would be epic and very effective. This event coupled with the trade war would fulfill the globalist narrative that the Trump Administration and the conservatives that support him are a “menace” to global stability. Any financial crash at that point would undoubtedly be blamed on Trump as well as his supporters.

Currently, the mainstream media is very quiet on the Iran situation despite the sudden shift of US military resources to the region, which leads me to believe that a conflict is being planned in the near term.

Brexit Finalized

This event may not be concluded until the end of this year, but I still maintain as I always have that the Brexit and the growth of populism in Europe is a distraction that has actually been encouraged by globalists through the use of forced mass immigration measures to terrify the citizenry. I successfully predicted the outcome of the Brexit vote in 2016 (http://alt-market.com/articles/2931-brexit-global-trigger-event-fake-out-or-something-else) based on this theory, and it still holds true so far today.

The “rise of the populists” in Europe and the US at the exact same time that central banks are withdrawing liquidity and at the exact same time that fundamentals are plummeting is yet another unlikely coincidence.

The only event that was needed to fulfill the populist takeover narrative was a major win by a nationalist party on the European mainland. Thanks to French president Macron being the worst leader in recent French history, that event has occurred. Marine Le Pen's National Rally Party has overtaken Macron's LREM party in the EU parliamentary elections. The populists have gained ground in Italy and Germany as well; not enough to retain any real influence, but enough to get blamed for the financial disaster that is about to happen.

The final plot twist the elites need in the EU, I believe, is a no-deal Brexit. I predict the Brexit will conclude and that the UK will indeed break with the EU. The latest announcement of Theresa May's resignation seems to indicate that this will be the case, and that a no-deal scenario is the most probable scenario. The EU has publicly stated that there will be NO renegotiations of the Brexit deal (https://www.reuters.com/article/uk-britain-eu/eu-tells-britain-there-will-be-no-renegotiation-of-brexit-deal-idUSKCN1SY0HJ) after May leaves. Sovereignty activists will cheer the Brexit outcome, and then things will start to go horribly wrong. European markets will tank and certain major banks (Deutsche Bank and Italian majors?) will announce insolvency. The panic felt in 2008 will return and hit the EU and the UK hard, and the Brexit movement will get the blame while central banks escape any culpability.

Only one of these events is needed to initiate the next stage of economic collapse, but it is possible we will see all three occur in due course. While the current crash started at the end of 2018, the year of 2019 will probably be the one that is most remembered in history books as the beginning of Great Depression 2.0.

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ThePythonicCow

7th June 2019, 03:56

And ... yet another most excellent article from Brandon, which I offer for your reading pleasure: The Next Stage Of The Engineered Global Economic Reset Has Arrived (http://www.alt-market.com/articles/3792-the-next-stage-of-the-engineered-global-economic-reset-has-arrived)

He figures that we are in a slow motion global economic collapse.

===============

The Next Stage Of The Engineered Global Economic Reset Has Arrived

Thursday, 06 June 2019 04:21 Brandon Smith

When discussing the fact that globalists often deliberately engineer economic crisis events, certain questions inevitably arise. The primary question being “Why would the elites ruin a system that is already working in their favor...?” The answer is in some ways complicated because there are multiple factors that motivate the globalists to do the things they do. However, before we get into explanations we have to understand that this kind of question is rooted in false assumptions, not logic.

The first assumption people make is that that current system is the ideal globalist system – it's not even close.

When studying globalist literature and white papers, from Aldous Huxley's Brave New World, to H.G. Wells' book The New World Order and his little known film Things To Come (https://www.youtube.com/watch?v=atwfWEKz00U), to Manly P. Hall's collection of writings titled 'The All Seeing Eye' (http://www.iapsop.com/archive/materials/all-seeing_eye/), to Carol Quigley's Tragedy And Hope, to the Club Of Rome documents, to Zbigniew Brzezinski's Between Two Ages, to former UN Director Robert Muller's Good Morning World documents (http://www.goodmorningworld.org/earthgov/), to Henry Kissinger's Assembly Of A New World Order (https://www.wsj.com/articles/henry-kissinger-on-the-assembly-of-a-new-world-order-1409328075?tesla=y), to the IMF and UN's Agenda 2030, to nearly every document on globalization that is published by the Council on Foreign Relations, we see a rather blatant end goal described.

To summarize: For at least the past century the globalists have been pursuing a true one world system that is not covert, but overt. They want conscious public acceptance of a completely centralized global economic system, a single global currency, a one world government, and a one world religion (though that particular issue will require an entirely separate article).

To attain such a lofty and ultimately destructive goal, they would have to create continuous cycles of false prosperity followed by catastrophe. Meaning, great wars and engineered economic collapse are their primary tools to condition the masses to abandon their natural social and biological inclinations towards individualism and tribalism and embrace the collectivist philosophy. They created the current system as a means to an end. It is not their Utopian ideal; in fact, the current system was designed to fail. And, in that failure, the intended globalist “order” is meant to be introduced. The Hegelian Dialectic describes this strategy as Problem, Reaction, Solution.

This is the reality that many people just don't seem to grasp. Even if they are educated on the existence of the globalist agenda, they think the globalists are trying to protect the system that exists, or protect the so-called “deep state”. But this is a propaganda meme that does not describe the bigger picture. The big picture is at the same time much worse, and also more hopeful.

The truth is that the old world order of the past century is a sacrificial measure, like the booster stage of a rocket to space that falls away and burns up in the atmosphere once it is expended. If you do not accept the reality that the globalists destroy in order to create opportunities for gain, then you will never be able to get a handle on why current events are taking the shape they are.

Of course, in public discourse the elites have learned to temper their language and how they describe their agenda. Public knowledge, or at least general awareness of the “new world order” is growing, and so they are forced to introduce the idea of a vast societal and economic shift in a way that sounds less nefarious and is relatively marketable. They also have a tendency to hint at events or warn about disasters that are about to happen; disasters they are about to cause. Perhaps this is simply a way to insulate themselves from blame once the suffering starts.

The International Monetary Fund began spreading a meme a few years ago as a way to describe a global economic crash without actually saying the word “crash”. Managing Director Christine Lagarde and others started using the phrase “global economic reset” in reference to greater centralization of economic and monetary management, all in the wake of a kind of crisis that was left mostly ambiguous. What she was describing was simply another name for the new world order, but it was one of the first times we had seen a globalist official actually hint that the change or “reset” would be built on the ashes of the old world system, rather than simply built as an extension of it.

Lagarde's message was essentially this (https://www.youtube.com/watch?v=kgU5Nvi9k5g): “Collective” cooperation will not just be encouraged in the new order, it will be required — meaning, the collective cooperation of all nations toward the same geopolitical and economic framework. If this is not accomplished, great fiscal pain will be felt and “spillover” will result. Translation: Due to the forced interdependency of globalism, crisis in one country could cause a domino effect of crisis in other countries; therefore, all countries and their economic behavior must be managed by a central authority to prevent blundering governments or "rogue central banks" from upsetting the balance.

The IMF and the CFR also refer to this as the “new multilateralism”, or the “multipolar world order”.

I believe the next stage of the economic reset has now begun in 2018 and 2019. In this phase of the globalist created theater, we see the world being torn apart by the “non-cooperation” that Lagarde and the CFR warned us about in 2015. The trade war is swiftly becoming a world economic war drawing in multiple nations on either side. This scenario only benefits the globalists, as it provides perfect cover as they initiate a crash of the historically massive 'Everything Bubble' which they have spent the last ten years inflating just for this moment.

As I predicted in my article 'World War III Will Be An Economic War' (https://www.alt-market.com/articles/3407-world-war-iii-will-be-and-economic-war), published in April of 2018, the tariff conflict between the US and China has become an excellent catalyst for the global reset. In my article 'America Loses When The Trade War Becomes A Currency War' (https://www.alt-market.com/articles/3453-america-loses-when-the-trade-war-becomes-a-currency-war), published in June of 2018, I stated:

“One question that needs to be addressed is how long the current trade war will last? Some people claim that economic hostilities will be short-lived, that foreign trading partners will quickly capitulate to the Trump administration’s demands and that any retaliation against tariffs will be meager and inconsequential. If this is the case and the trade war moves quickly, then I would agree — very little damage will be done to the U.S. economy beyond what has already been done by the Federal Reserve.

However, what if it doesn’t end quickly? What if the trade war drags on for the rest of Trump’s first term? What if it bleeds over into a second term or into the regime of a new president in 2020? This is exactly what I expect to happen, and the reason why I predict this will be the case rests on the opportunities such a drawn out trade war will provide for the globalists.”

The economic world has a very short attention span, but a year ago in the alternative media the trade war was being treated by Trump cheerleaders in particular as a novelty – a non-issue that would be resolved in a matter of a months with Trump victorious. Today, those same people are now vocal trade war fans, waving their pom-poms and screaming for more as they buy completely into the farce. Mentioning the fact that the trade war is only serving as a distraction so that the globalists can complete their economic reset agenda does not seem to phase them.

They usually make one of two arguments: Trump is an anti-globalist that is tearing down the “deep state” system and the trade war is part of his “4D chess game”. Or, the globalists don't have enough control over the current system to achieve the kind of “conspiracy” I describe here.

First, going by his associations alone, it is clear that Donald Trump is controlled opposition playing the role of “anti-globalist” while at the same time stacking his cabinet with the very same elites he is supposedly at war with. As I have outlined in numerous articles, Trump was bought off in the 1990's when he was saved from possible permanent bankruptcy by Rothschild banking agent Wilber Ross (https://www.forbes.com/sites/chasewithorn/2016/12/08/trump-and-his-commerce-secretary-wilbur-ross-a-look-at-25-years-of-connections/#5b4285b6f820). Trump made Ross his Commerce Secretary as soon as he entered the White House, and Ross is one of the key figures in the developing trade war.

At this point I have to say that anyone arguing that Trump is “playing 4D chess” with the banking elites while he is surrounded by them on a daily basis must be clinically insane. Every economic and trade policy Trump has initiated in the past two years has served as a smokescreen for the globalists controlled demolition of the economy. As the reset continues in the midst of the trade war, it will be Trump and by extension all conservatives that get the blame. Trump is a pied piper of doom for conservative movements, which is why I have always said any attempts to impeach Trump (before the crash is completed) will fail. The globalists like him exactly where he is.

Second, there is a globalist controlled central bank in almost every nation in the world, including supposedly anti-globalist countries in the East like Russia and China. All of these central banks are coordinated through the Bank For International Settlements in Basel, Switzerland. The globalists covertly dictate the economic policy of nearly the entire planet. They can easily create an economic collapse anytime they wish. This is a fact.

However, what they do not control is how elements of the public will react to their reset agenda. And this is where we find hope. They do not have their “new world order” yet, which is why they have to resort to elaborate theatrics and psychological operations. They know that an awake and aware segment of the population could annihilate them tomorrow with the right motivation, and so, they continue to distract us with a swarm of other concerns and calamities.

The purpose is to convince the masses to focus on all the wrong enemies while ignoring organized and psychopathic elites as the root of threat to humanity. We are supposed to hate the Russians, or hate the Chinese, or hate people on the left, or hate people on the right, and so it goes on. But these conflicts are just symptoms of a deeper disease. The great danger is that the focus on globalists as the virus will fade from public consciousness and conservative circles in particular as the trade war becomes a world war and economic collapse results in financial pain.

The reset is upon us. The narrative of the collapse is being written before our eyes. The end game rests not on the globalists, though, but proponents of liberty and sovereignty. Either we keep our crosshairs on the true enemy, or we get sucked into the maelstrom and forget who we are and why we are here. If the latter occurs, then the globalist reset will be assured.

===============