Global Currency Reset (SDR's and the New Bretton Woods; by JC Collins)

[TargeT]

Canadian dollar tumbles to close below 72 cents US

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/loon...ents-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/articl...t-battle-looms

[ThePythonicCow]

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 are likely two early elements of this.

[ThePythonicCow]

I missed posting this earlier. From Reuters a couple weeks ago, S&P downgrades holding companies of eight U.S. banks:

=======

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]

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

• 100,000 bankers lost their jobs in 2015 (BusinessInsider.com)
• HSBC Said to Close Down Private Banking Operations in India (Bloomberg)
• Barclays Said to Plan Further 20% Investment Bank Job Cuts (Bloomberg)
• Deutsche Bank Said Planning 1,000 London Job Cuts (Bloomberg)
• New Credit Suisse CEO announces 5,000 job cuts (The Local - Switzerland)
• HSBC Said to Start 2,000 Job Cuts in Commercial Banking Unit (Bloomberg)
• Morgan Stanley to cut 1,200 jobs, take $150M charge (CNBC)
• Lloyds announces 1,000 job cut (Express.co.uk)
• Standard Chartered Bank to Raise $5.1 Billion and Cut 15,000 Jobs
• Standard Chartered Bank may close retail operations in Oman (MuscatDaily)
• France's BNP Paribas to close Dubai office, axe 40% of Bahrain staff (ArabianBusiness)

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:

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The "Uber moment" in finance that the former CEO of Barclays warned about recently is already happening — 11 big banks have cut a combined 10% of their staff this year.

Analysis by the Financial Times 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]

Posted by Paul (here)
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 are likely two early elements of this.

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

[TargeT]

Posted by promezeus (here)
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.

[promezeus]

Posted by TargeT (here)

Posted by promezeus (here)
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]

Posted by promezeus (here)
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.

[ThePythonicCow]

Posted by TargeT (here)
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.

[TargeT]

Posted by Paul (here)

Posted by TargeT (here)
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.

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


US report warns on China's massive intellectual property theft

FBI: Intellectual Property Theft

2005 Piracy of Intellectual Property


Addressing Global Scope of Intellectual Property Law, 2004

Cyber Espionage and the Theft of U.S. Intellectual Property and Technology

2007: THE CRISIS IN INTELLECTUAL PROPERTY PROTECTION AND CHINA'S ROLE IN THAT CRISIS

no aliens IMO, just policy.

Ponder this:

Our military did not stand up the US Cyber Command until October 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]

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]

Posted by TargeT (here)
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.

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]

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:

=========

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]

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_...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]

Posted by promezeus (here)
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.

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]

Posted by Paul (here)
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:

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]

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):

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]

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.

Source: https://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]

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

From Xinhuanet.com: 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: 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 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]

here comes Paul's fog of war

But I see only a stage play with paid actors

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