Karen Hudes update 14 June 2016: Global currency reset is coming

[PathWalker]

Watched this video today.
I enjoyed it allot.
Karen Hudes an angry Whistleblower from the world bank is releasing again some real nuggets in this video.
In previous video she exposes Ben Fulford to be a cabal member (which I believe he is a controlled oposition).
U1R3DzXJsaI

* all the banks are actually one bank
* put some proves on her site
* explain the wealth consolidation after WWII
* MSM coverup on the global corruption is breaking down
* Explains her creditability
* Greece MSM cover the global debt facility transfer to gold base currency
* Gambino the mafiosi ordered killing JFK from the sewer, ordered by the Jesuits to prevent US financial independence
* 50 US states are left to pick after JFK left over. But Swiss bank deny the US its state issued dollars backed by gold.
* Obama is threatening 14 states governors with treason if they print their sovereign treasury currencies.
* US is currently under marshal law and the constitution is voided
* The lawyers and federal judges are bought/intimidated to comply
* Mention judge Scalia murder
* Exposing publicly the accounting records for global debt facilities controlled by the world bank and IMF.
* Federal reserve is insolvent
* 18:15 not understanding clearly
* There will be peaceful transition from Federal reserve notes to US treasuries dollars, backed by gold.
* UBS is holding the treasury dollars, and Swiss is a rouge nation (PathWalker note: Swiss is the royal's seat and world's finance control center BIS + World bank are there)
* Legally authorize 50 US governors to print their sovereign treasury dollars.
* On June 3rd heard something, from someone in Singapore where all the gold is stashed. I did not understand what she heard.
* Explains attack on the USD on 21 April 2016, and how it was saved
* Suggests peaceful transition by offering amnesty to the cabal.
* 26:00 explains the currency reset situation with general Dumpsy printing the USG treasury dollars instead of Swiss did not fully understand.
* 26:50 News about national liberty alliance (white hats?), did not understand
* She has no permission to release something, did not fully understand
* Advocate for personal responsibility to educate self about the real financial situation
* She is optimistic about what is coming

Please assist filling up my misunderstanding.
I find many correlations with material coming from David Wilcock.

[Michelle Marie]

Really appreciate the synopsis!

Thanks a bunch,
MM

[Bill Ryan]

In previous video she exposes Ben Fulford to be a cabal member

Interesting. That's this one:


http://www.youtube.com/watch?v=ojaQQHizc8I

[robinr1]

thank you very much for taking the time to wrote those cliff notes down..




Watched this video today.
I enjoyed it allot.
Karen Hudes an angry Whistleblower from the world bank is releasing again some real nuggets in this video.
In previous video she exposes Ben Fulford to be a cabal member (which I believe he is a controlled oposition).
U1R3DzXJsaI

* all the banks are actually one bank
* put some proves on her site
* explain the wealth consolidation after WWII
* MSM coverup on the global corruption is breaking down
* Explains her creditability
* Greece MSM cover the global debt facility transfer to gold base currency
* Gambino the mafiosi ordered killing JFK from the sewer, ordered by the Jesuits to prevent US financial independence
* 50 US states are left to pick after JFK left over. But Swiss bank deny the US its state issued dollars backed by gold.
* Obama is threatening 14 states governors with treason if they print their sovereign treasury currencies.
* US is currently under marshal law and the constitution is voided
* The lawyers and federal judges are bought/intimidated to comply
* Mention judge Scalia murder
* Exposing publicly the accounting records for global debt facilities controlled by the world bank and IMF.
* Federal reserve is insolvent
* 18:15 not understanding clearly
* There will be peaceful transition from Federal reserve notes to US treasuries dollars, backed by gold.
* UBS is holding the treasury dollars, and Swiss is a rouge nation (PathWalker note: Swiss is the royal's seat and world's finance control center BIS + World bank are there)
* Legally authorize 50 US governors to print their sovereign treasury dollars.
* On June 3rd heard something, from someone in Singapore where all the gold is stashed. I did not understand what she heard.
* Explains attack on the USD on 21 April 2016, and how it was saved
* Suggests peaceful transition by offering amnesty to the cabal.
* 26:00 explains the currency reset situation with general Dumpsy printing the USG treasury dollars instead of Swiss did not fully understand.
* 26:50 News about national liberty alliance (white hats?), did not understand
* She has no permission to release something, did not fully understand
* Advocate for personal responsibility to educate self about the real financial situation
* She is optimistic about what is coming

Please assist filling up my misunderstanding.
I find many correlations with material coming from David Wilcock.

[ThePythonicCow]

* 26:00 explains the currency reset situation with general Dumpsy printing the USG treasury dollars instead of Swiss did not fully understand.
This reminds me of what Jim Willie (http://goldenjackass.com/main5.html) calls the Scheiss (http://www.gold-eagle.com/article/split-birth-new-scheiss-dollar) or Scheiße Dollar ('Scheiße' is German for excrement).

Jim expects that the global agreement will include requiring the US Fed to stop issuing more of the existing US Federal Reserve notes, and stop extending US debt in Treasury bills, notes and bonds denominated in those US Federal Reserve dollars. This will prevent the US from inflating the existing US Treasury debt and US Federal Reserve Dollar denominated currency and instruments that are held in foreign hands to the point of worthlessness. The rest of the world can then work the existing supply of Treasuries in their central bank reserves out of the system, over the next year or two, without the further inflation of the global US Treasury debt and US Federal Reserve currency supply by further inflationary spending and lending by the US.

However this will mean that the US Government has to begin to pay social benefits, payroll and contracts in some other form of money. This would be what Jim Willie calls the Scheiße Dollar, or apparently what Karen Hudes expects will be US Treasury notes printed in Texas.

Like Abraham Lincoln's Greenbacks (1860's), and Benjamin Franklin's Pennsylvania currency (pre-1770), these Treasury notes would not be lent into existence the way current Federal Reserve notes are, but printed and spent into existence by the US Federal government, into the internal US economy. These new Treasury dollars would lose considerable value in the following year or two, due to significant inflation. The rest of the world would be relatively insulated from this inflationary problem. It would be a domestic US problem.

Only when the US is once again able to balance its imports and exports will it be able to stabilize the value of its new domestic Treasury currency in the world markets, like any other national currency. The US Dollar would no longer be the "exceptional" currency in which so much trade, contracts and reserves are held or denominated.

In other words, the long held view that since the US issues debt in its own printed currency, it could always and forever just "print" its way out of any debt crisis is turning out NOT to be true. The US has lost its exceptional position atop the world's monetary system, and is being (as will be seen soon) forced to stop issuing more such Treasury debt, to stop its internal banking system from issuing more US (Federal Reserve denominated) debt, to stop these internal banks from distributing the existing form of US Treasury Dollars, and to stop paying US Federal government bills (payroll, social benefits, contract payments) in the current form of US Treasury dollars.

We (the US) won't be allowed to print our way out of the mess we've gotten ourselves, and the rest of the world, in.

We are about to be forced to invent a new domestic currency ... and we will be free to inflate that. This will be the Scheiße Dollar, aka the US Treasury Dollar.

I presume that we (the US) will be forced to make payments on existing US Treasury debt in some equivalent SDR denominated form, as the existing US Treasury dollars, and debt and contracts denominated therein, are phased out. But I have not heard any details on that aspect - handling existing US debt held outside the US (other than it seems likely that the US will renege on Treasury debt held by the Saudi's.)

(Apparently some earlier Treasury Dollars, to be spent into existence, rather than lent into existence, were printed and from what Karen Hudes says, are in Swiss hands ... but the US won't be allowed to use those.)

[ThePythonicCow]

Aha - writing the last post led me to another (possible) insight.

This last December, of 2015, the US Federal Reserve got much publicity for raising interest rates for the first time in many years.

However, it turned out they hardly moved interest rates at all, and all that smoke and mirrors seems to have been cover for something else.

As best as Jim Willie can figure out, the big thing that the Fed did in Dec 2015 was to change the rules for Reverse Repos, making them easier to do.

A Reverse Repo is basically a trade between the Fed and a major bank: Dollars go from the bank to the Fed, and Treasury debt goes the other way.

So the question then became, why was the Fed keen to move some of its stash of Treasury debt paper to the big banks?

Now it seems clearer to me. Once the crisis unfolds that leads to introducing the new Scheiße, aka US Treasury, Dollar, then the US Federal government will no longer be funding its central bank, the Federal Reserve, by borrowing money from it into existence. Instead the Treasury will print its own money, like it used to do, before the Federal Reserve obtained control of the US Monetary system in 1913.

But Federal government is not the only source of new money into the economy. All manner of state and local governments, corporations and businesses large and small, and individuals rich and poor introduce new money into the economy by borrowing it, the same way that the US Federal government has done for the last century. The US central bank, the Fed, controls how much, and within what limits, the banks can lend, and serves as the lender of last resort to these banks.

Thanks to the sharp increase in Reverse Repos that the fake interest rate hike of Dec 2015 obscured, the Fed now has trillions of US Federal Reserve dollars on its balance sheet. With a simple stroke of the pen (well, of a keyboard) these dollars can be converted to the new Scheiße, aka US Treasury, the same way that balances on deposit in all domestic US banks will be converted. The Fed will remain in the business of being the central bank of the domestic US banking market.

One aspect of this new prediction of mine seems particularly huge and even unlikely to me ... that the Fed would relinquish its control over the money supply of the US Federal government. By all rights and by the US Constitution, the US Treasury should be able to print the money the US Government spends into existence, above and beyond what's collected in duties and taxes. But the US Federal government allowed that power to be stolen in the middle of the night, on Christmas Eve, in 1913, with the creation of the Federal Reserve. For the last century, the US Federal Government could only spend what new money the Federal Reserve lent to it.

It would be truly awesome if the US Federal Government took back that power. It's hard for me to believe that such could happen, even though that's the logical conclusion of the above analysis.

In any case, however, us ordinary individuals, smaller governments and domestic business will continue to have to borrow into existence anything we would spend in excess of existing savings.

[skyflower]

Bitcoin is up to $700 lately...I wonder if there is any relation.

[ramus]

http://www.youtube.com/watch?v=ojaQQHizc8I

Listened to the whole thing no mention of ben fulford ... Must be on another one ... Any idea which one ?

[jc71]

Bitcoin is up to $700 lately...I wonder if there is any relation.

This is outflows of cash out of China being traded in to anonymous Bitcoins...

JC

[ThePythonicCow]

...

The rest of the world can then work the existing supply of Treasuries in their central bank reserves out of the system, over the next year or two
...
I presume that we (the US) will be forced to make payments on existing US Treasury debt in some equivalent SDR denominated form, as the existing US Treasury dollars, and debt and contracts denominated therein, are phased out. But I have not heard any details on that aspect - handling existing US debt held outside the US (other than it seems likely that the US will renege on Treasury debt held by the Saudi's.)
...

Ah - perhaps - climbing further out on the twigs of high octane speculation ((tm) by Joseph P. Farrell), these two dots are connected.

Perhaps the U.S. will be forced to buy back its outstanding debt and currency, that was denominated in US Federal Reserve dollars (the currency being retired), and to pay for what it buys back in more acceptable forms of currency, whatever that be, such as gold and silver, or other currencies in the SDR basket, or gold backed trade notes (which I should discuss further, but I'll leave that for some future time and post.)

This speculation raises however another open question on this matter: What becomes of the currently dominating position of the US Dollar in the SDR basket? After the new formula takes effect in October, adding the Chinese renminbi, the US Dollar will still hold a 41.7% weight in the SDR basket.

From Review of the Special Drawing Right (SDR) Currency Basket (IMF) (https://www.imf.org/external/np/exr/facts/sdrcb.htm):



The following weights based on the new formula will be used to determine the amounts of each of the five currencies in the new SDR basket that will take effect on October 1, 2016:
U.S. dollar 41.73 percent (compared with 41.9 percent at the 2010 Review)
Euro 30.93 percent (compared with 37.4 percent at the 2010 Review)
Chinese renminbi 10.92 percent
Japanese yen 8.33 percent (compared with 9.4 percent at the 2010 Review)
Pound sterling 8.09 percent (compared with 11.3 percent at the 2010 Review)
The amounts of each currency in the revised basket will be calculated on September 30, 2016, in accordance with the above-listed weights
That 41.7% will have to transform somehow, once the Monetary Reset becomes publicly visible. Perhaps it will just mean recognizing that "US Dollar" then means the national US Treasury Dollar, rather than the present exceptional US Federal Reserve Dollar. Since the other currencies in that basket are already national (or regional in the case of the Euro, should that currency last through the reset), this seems to work. If (when) the new US Treasury Dollar loses trade value in the following years, then the SDR basket calculation will adjust, as it normally does, to reflect the changing relative value of each currency in the basket.

... I've no doubt that people who are paid far more than I am paid are considering such matters as we speak, and would find what I write above to be ludicrously naive and misinformed. Oh well.

[PathWalker]

http://www.youtube.com/watch?v=ojaQQHizc8I

Listened to the whole thing no mention of ben fulford ... Must be on another one ... Any idea which one ?

Answer in post #3 here (http://projectavalon.net/forum4/showthread.php?91365-Karen-Hudes-update-14-June-2016-Global-currency-reset-is-coming&p=1075323&viewfull=1#post1075323).

[ThePythonicCow]

... more acceptable forms of currency, whatever that be, such as gold and silver, or other currencies in the SDR basket, or gold backed trade notes (which I should discuss further, but I'll leave that for some future time and post.)
I'll give a brief hint of what would be a massive thread, if properly explained.

I presently agree with Jim Willie that an SDR denominated system will be an intermediate step ... for such a system is essentially the lashing together of the secondary debt-based currencies (lent into existence) of the world, in a futile effort to survive the collapse of the "exceptional" debt-based currency, the King Dollar.

Such lashing together will no more succeed for very long than the lashing together of the immensely bankrupt major Western banks, after the crisis of 2008, will succeed. Instead of some failing, to be rescued by others, they will all fail together, in a more grand collapse.

The upcoming SDR denominated system will appear to succeed for a bit, because gold will be repriced such that some of the major currencies in the SDR basket, such as China, as well as some other major nations outside the SDR basket, such as Russia, will have substantial gold reserves appearing to back their national currencies, and appearing to make their central bank balance sheets balanced using gold and silver, rather than using US Treasuries as is done now.

However there will be more work to be done, more phases to endure, before the world's monetary system completes this complex collapse and begins rebuilding once again in a healthy manner. An SDR denominated system, involving a basket of major national currencies some of which at least are able to balance the books of their central banks using dramatically repriced gold, is still at heart a monetary system based on debt-money, just repackaged. This still does not solve the problem of funding, in a sustainable manner, the production of goods and services, most of which require significant investment of capital equipment, complex production chains, resources and labor from around the world.

The world economy will sink deeper into depression, pension funds will be found entirely lacking, major banks will fail, many businesses will go bankrupt, unemployment will rise, and rise, and rise some more. Gold will continue to be hoarded, by all, large and small, who were lucky enough to get some before the Greater Depression.

What works, and what worked in the 1800's, was a combination of (1) actual gold and silver backed coinage currencies, with the paper currencies interchangeable for gold and silver on demand, and (2) gold trade notes.

Jim Willie basically agrees with the above, however he gets some of the big picture monetary concepts a bit muddled in my view. The master that some of us suspect informs Willie's comments in these areas, and that I respect the most, is Antal Fekete, a retired professor of mathematics who has been studying world monetary systems for the last few decades.

The real gold in such a system represents the long term storable wealth. Unlike paper currency, such as the US Dollar which has lost some 99% of its value in the century that it was debt money rather than gold backed (since the Federal Reserve was created in 1913), gold has held, and continues to hold, its real value in goods and services over the centuries, and is the best item to continue to do so. Silver, and paper currency backed by it, becomes the "currency" of trade, suitable for smaller trading amounts and shorter term hoarding (saving.)

But gold and silver are not sufficient ... something else is also needed to bridge the gap between the investment in plant, materials, trained labor, shipping, stocking, ... and the resulting payback, when some person, government, business or other organization purchases the final product. That something else, in the 1800's was bills of trade, which were promises to pay in gold in 90 days that were used to fund the production costs of new goods. That something else, since the early 1900's, has been bank lending.

Bills of trade are self limiting, in time (90 days) and in quantity issued (the amount of new production that had an excellent chance of being delivered to the market and sold, lest the original issuer have to fork over his own gold instead.)

Debt money is inherently exponentially growing, as debt paper is always and forever more a promise to pay more in the future than it cost in the present, with no limits on duration or quantity issued. These ever growing, eventually unrealizable, promises take on increasingly diverse forms, including pension plans, socialized government services, retirement and investment plans, home equity, and the expected payout of college degrees. Lending banks end up dominating the debt money issuance and trading to the point that they become the dominant generator of "profit". Real capital, in equipment, infrastructure, trained labor, buildings, is trimmed back, as being less "profitable" than financial engineering. Eventually (as in the present) an immense amount of bank profit ends up chasing a collapsing amount of real goods and services, and in a series of increasingly large bubbles and collapses, the world's economy enters a great depression.

Unlike what Jim Willie says, that zero interest rates (or worse yet, negative interest rates) destroys capital, I hold that this is putting the cart (and its passengers) before the horse. I hold that both the destruction of "real" capital (such as the empty hulks of auto manufacturing buildings in Detroit, once one of the world's wealthiest and most productive cities, or newer, even more empty, cities in China, or rusting empty floating super tankers) and the ongoing decline of interest rates on the world's dominant and reserve currency, King Dollar since the early 1980's, are signs of a deeper flaw in a debt money system: an essential disconnect between (1) real production and (2) financial profit. This disconnect is inherent in a debt-money based system.

Real bills of trade, in some reincarnated variant of what worked so well in the 1800's, and real gold and silver backed currency, provide that essential disconnect. The grounding in gold and silver prevents the unlimited (except by systemic collapse) exponential growth of the system, and the trade bills provide the flexibility required to handle fluctuating levels of economic activity and the delays inherent in a complex economy between production and final sale.

Articles written by Antal Fekete over the years can be found at http://www.professorfekete.com/articles.asp

A series of 17 videos that he recorded in 2014 can be found at http://www.publisher-jm.ch/videos.php (look under the heading Prof. Antal E. Fekete - From Gold anchor to Gold anvil)

Prof. Antal Fekete is a long way from anything taught in conventional economics these days, and so it takes some time, years likely, to wrap one's head around what he's saying.

===

Yes - I said "brief"above :). Now you can get a hint of why I don't have time or genius required to do this justice, and why I suspect that no one would have time or sustained desire to read and grasp it, even if I did have the time and ability.

===

Here is a direct embed of the first of the 17 videos in the above linked series, to give you a taste of Prof. Antal Fekete:
vAiFPQbOSTI

[Morbid]

after watching her interviews for at least 2 years now i tend to believe that she is somehow related to rothchild's clan agenda.
the gold standard would not bring prosperity to the world - its a hoax pushed by the biggest gold horders - rotchilds at the moment. at the end of 19th century a 33° mason sergei vitte in charge of russian empire finances introduced gold standard which bancrupted it within 20 years. as result bolsheviks came controlled by cabal money masters and sent russia in turmoil for the next 20 years until stalin got the sovereignty back.
its a big topic but listening what she got to say i noticed she intentionally not mentioning certan key points, also when asked directly what religion she is on the radio show she didnt answer trying to avoid the question - typically done by those of jewish origin. its just too many bells for me to take seriously. after a while it gets boring as she constantly repeats the mantra time and time again - as if she was allowed only these topics.
if you wish to hear a truly enlightened economist then i would suggest searching for some translated texts by Valentin Katasonov - he exposes the whole economical scam quite well and only humbly suggest for society to awaken for economic situation to truly improve as its merely a reflection of relations between all of us..

[PathWalker]

... more acceptable forms of currency, whatever that be, such as gold and silver, or other currencies in the SDR basket, or gold backed trade notes (which I should discuss further, but I'll leave that for some future time and post.)
Such lashing together will no more succeed for very long than the lashing together of the immensely bankrupt major Western banks, after the crisis of 2008, will succeed. Instead of some failing, to be rescued by others, they will all fail together, in a more grand collapse.


I strongly agree with your analysis.
I also understand that all economic thinking and theories are the basis for "religious" ideologies and eventually control system.
No matter what is the ideology or theory, wealth is always centralized.

If we look at known history the controlling economy is based on these principals.
1. Create scarcity by controlling essential resources (such as: food, water, land, passage, energy, safety...).
2. Generate tension and competition, driving war economy. Controlling the people with fear.
3. The ultimate goal of the rulers is to exploit the people and the "scarce" resource.
This is essentially how the economic system works, the theory of exchange/currency/value etc... Is derived from the above.

As in any balance ecological system resources are not exchanged they are consumed and transported with the animals/current/winds...

If we think of a balanced economic system, we can look at balanced ecological system. We do not see hording/greed/capital in the ecological systems.

The human specie has enough resources to feed and care for every human being. There is no genuine intent to share or care for the planet.
Therefore any economic system based on the 3 principals above will fail. When the economic system fails. It is substituted by another control system. Based on the same principals, it is a viscous cycle.

Saying that in more concrete earthly words. Moving to any other currency (SDR/Gold/Land/Commodities...) is just another control system. Those who have may control those who do not have. Using the notion of centralized ownership.

I see long term economic prosperity where there is no exploit.
Saying that, there is and always be economic (natural) challenges at personal scale and community scale.
That is a spiritual perspective on the economic system.



A series of 17 videos that he recorded in 2014 can be found at http://www.publisher-jm.ch/videos.php (look under the heading Prof. Antal E. Fekete - From Gold anchor to Gold anvil)

Prof. Antal Fekete is a long way from anything taught in conventional economics these days, and so it takes some time, years likely, to wrap one's head around what he's saying.

Thank allot for pointing Prof. Antal E. Fekete, I greatly appreciate your analytic thinking. I will invest the time required to study Prof. Antal E. Fekete teachings. (Currently I am studying AngularJS :sherlock:)

[ThePythonicCow]

the gold standard would not bring prosperity to the world - its a hoax pushed by the biggest gold horders - rotchilds at the moment. at the end of 19th century a 33° mason sergei vitte in charge of russian empire finances introduced gold standard which bancrupted it within 20 years. as result bolsheviks came controlled by cabal money masters and sent russia in turmoil for the next 20 years until stalin got the sovereignty back.
A pure gold standard is not sufficiently flexible in the quantity of money in circulation - I agree. That's why some combination of a gold standard, with its firm limits on long term wealth in store, and a more flexible issuance, whether of (1) money lent into existence (debt-money), (2) money spent into existence (such as Lincoln's Greenbacks during the American Civil War), or (3) money traded into existence (such as the real bills written of by Adam Smith and now Antal Fekete), is used, in combination with a gold and silver backing.

Real bills are better in my view, because they naturally expand and shrink in volume in circulation with the changing seasons and trade volumes, helping to keep long term interest rates and the value of stored wealth, such as gold, stable. Debt-money tends inevitability to expand without limit, until the system collapses. Money spent into existence by governments tends to collapse in hyper-inflation.

I don't blame Russia's problems of the last century on a gold standard. The same sort of turmoil, government overthrows, manufactured revolutions, economic collapses, and other destructive evils have been going on, far and wide, for as long as I can remember, regardless of the apparent monetary system in use. The ones rewriting history are the ones blaming Russia's problems on a gold standard, because they would rather blame something they don't like, than to blame the real culprits ... themselves.

[ThePythonicCow]

Kim Greenhouse, of It's Rainmaking Time!® (http://itsrainmakingtime.com/), did an hour and a half interview of Antal Fekete, back in 2010. As usual, she does a good job of bringing new material to her listeners. Here's a link to the ten part Youtube playlist for this interview: https://www.youtube.com/watch?v=k3aKJ1gn8lI&list=PLFA3D89EE41ECAB7A.

Antal Fekete routinely adds specifics to his telling of Real Bills that seem overly detailed and likely not exactly what I might recommend. But the fundamental idea of a bill that is traded into existence, with publicly visible details of who is making what to ship, insure, distribute and sell how, seems to me to be the proper underpinnings of the flexible portion of a monetary system that is more stable and adaptable to changing circumstances than bank lending or government spending.

[ThePythonicCow]

Oh dear - Antal Fekete's discussion of his idea of "step numbers", beginning at 2 m 50 s into the 6th video (https://youtu.be/-J6y9NkWPWI?t=2m50s) of this playlist is an embarrassment.

The length of binary numbers grows as the logarithm of their value, not linearly. Then, moreover, we routinely use floating point representations, for more compact representations of numbers that range over a wide scale, which essentially reduces the problem to the order of the logarithm of a logarithm.

Fekete is talking of the size of representations of numbers as if we used unary, not binary and floating point representations. He also claims that the potential problem with storing the explosion of information is the use of the binary number format. It's the combinations of layers of information that mushrooms the size of the storage, not the numeric representation used. Fekete also neglects to consider that the size of the set of allowed digits (2 for binary, 10 for decimal, etc) impacts the size of the physical storage cell required to hold each digit.

In short, Fekete seems unaware of the work of Claude E. Shannon's 1948 work (https://en.wikipedia.org/wiki/A_Mathematical_Theory_of_Communication) on information density (entropy).

Fekete may (or may not) be a math and monetary genius ... but his computer science is embarrassing.

[ThePythonicCow]

The latest Hat Trick subscription newsletter from Jim Willie of GoldenJackass.com (http://www.goldenjackass.com) has some more details on how this might go down.

One of Jim Willie's colleagues is saying that the Chinese are working with the BIS (Bank of International Settlements, Basel, Switzerland) to settle on an exchange rate between gold and the US Dollar, which would be used to restate existing Dollar contracts in terms of gold. The rate might be something like $5000/oz of gold. Presently the price of gold, as I type, is about $1298/oz or $1299/oz in US retail gold Markets.

Such a decree from the BIS would go a long way to indicating how the US Dollar will be removed from its present dominant role in denominating international contracts.

Along with this, Jim Willie expects that trade will be increasingly conducted in Chinese RMB and other currencies, not the US Dollar, and that trade imbalances between nations settled in gold.

Nations lacking sufficient gold, and under the burden of an unfavorable trade imbalance (hello U.S.A. -- I'm talking to you, amongst others) will have to hawk whatever resources, goods, services, property, production or internal income streams they can lay their grubby hands on, to trade for the gold needed to settle trade imbalances. I suspect that more than a few Venezuelans will have difficulty suppressing a chuckle, at the plight of Americans.

[PathWalker]

The latest Hat Trick subscription newsletter from Jim Willie of GoldenJackass.com (http://www.goldenjackass.com) has some more details on how this might go down.

One of Jim Willie's colleagues is saying that the Chinese are working with the BIS (Bank of International Settlements, Basel, Switzerland) to settle on an exchange rate between gold and the US Dollar, which would be used to restate existing Dollar contracts in terms of gold. The rate might be something like $5000/oz of gold. Presently the price of gold, as I type, is about $1298/oz or $1299/oz in US retail gold Markets.

Assuming this is accurate.
Than China has the finger on the global currency reset.

This is a matter of political power extraction.
China is using currency reset trigger to leverage its position over the west.
But the currency reset could be triggered by other natural events, not under China control.
So there is limit to how much power China has with the currency reset trigger.

Please speculate on this question.
1. When will China trigger currency reset.
2. What could trigger currency reset, without China control.

Thanks
Joy and happiness
PathWalker

[ThePythonicCow]

Please speculate on this question.
1. When will China trigger currency reset.
2. What could trigger currency reset, without China control.


Yes, it seems that China is in the driver's seat, more than anyone else.

However, China depends on many other nations and regions for both raw materials and for markets for finished goods. They have the difficult task of wrestling control away from some deeply entrenched, powerful, and viscous forces in the Anglo-American empire, while avoiding the complete destruction of the world's economy.

The current US Petro-Dollar Reserve Currency system, and the Western banking system, are sufficiently top heavy with debt, derivatives and financial deceit that they cannot last. Rather than providing the financial capital needed to support the healthy production of real goods, the West is now rapidly destroying that capital. Profits which could have been invested in productive capacity and infrastructure are instead pouring into further financial engineering. Corporations go deeper into debt, buying back their own stock, to benefit their largest stock holders, while they close down factories and lay off workers. Money pours into corruption, fraud, weapons of war, and "intelligence" operations, while the planet and the people get sicker.

The US Petro-Dollar Reserve Currency system is reaching its "Sell-By" date, with or without the efforts of China. But it will not go easily into the night.

The (Japanese, sorry, not Chinese) Rules of Sumo Wrestling (http://www.sumotalk.com/rules.htm), unlike say Western boxing, do not work off a clock. Rather a match lasts as long as it takes for one opponent to push the other out of the ring, by whatever means possible, except for a few forbidden moves.

China, and its important allies such as Russia and Iran, are working on pushing the Anglo-American empire out of the ring, removing it from its dominant positions over the world, not just over the US Dollar currency, but also the US military, covert "intelligence" operations, drug running, energy export, toxic food and pharmaceutical production, and propaganda (aka "history", for the winners).

Such tectonic shifts in power do not happen quickly. They take decades, at a minimum.

A key point for me will be a major collapse of U.S. banking and financial markets, justifying the public replacement of the US Federal Reserve note as the public representation of the US Dollar. There will be many other key points as well, of course, though not all so "in your face" undeniable to the average American. The decline to third-world economic status, in the subsequent years, will be a bitter pill for many Americans to swallow.

I've been predicting such a collapse "within the year" for almost a decade now ... I'll get it right one of these years.