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The BRICs Are Morphing Into An Anti-Dollar Alliance
While numerous massively indebted administrations around the world hope to divert the attention of what's left of their struggling middle class away from its daily impoverished existence and distract it with flashing lights and glitzy animations showing another all time market high on a daily basis, a significantly more important shift taking place behind the scenes is appreciated by very few: the ongoing de-dollarization of the world. For the latest example of how increasingly more countries are setting the stage for the final currency war, we go again to Russia where VOR's Valentin Mândr??escu explains that slowly but surely the BRICS - that proud Goldman acronym which was conceived to perpetuate the great American way of life by releasing trillions in US-denominated debt in heretofore untapped markets - are morphing into an anti-dollar alliance.
BRICS is morphing into an anti-dollar alliance, From VOR
Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People's Bank of China and Kremlin used the meeting to let the world know about the technical details of its international anti-dollar alliance.
On June 10th, Sergey Glaziev, Putin's economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves. The ultimate goal would be to break the Washington's money printing machine that is feeding its military-industrial complex and giving the US ample possibilities to spread chaos across the globe, fueling the civil wars in Libya, Iraq, Syria and Ukraine. Glaziev's critics believe that such an alliance would be difficult to establish and that creating a non-dollar-based global financial system would be extremely challenging from a technical point of view. However, in her discussion with Vladimir Putin, the head of the Russian central bank unveiled an elegant technical solution for this problem and left a clear hint regarding the members of the anti-dollar alliance that is being created by the efforts of Moscow and Beijing:
“We've done a lot of work on the ruble-yuan swap deal in order to facilitate trade financing. I have a meeting next week in Beijing”, she said casually and then dropped the bomb: “We are discussing with China and our BRICS parters the establishment of a system of multilateral swaps that will allow to transfer resources to one or another country, if needed. A part of the currency reserves can be directed to [the new system].” (Prime news agency)
It seems that Kremlin chose the all-in-one approach for establishing its anti-dollar alliance. Currency swaps between the BRICS central banks will facilitate trade financing while completely bypassing the dollar. At the same time, the new system will also act as a de facto replacement of the IMF, because it will allow the members of the alliance to direct resources to finance the weaker countries. As an important bonus, derived from this “quasi-IMF” system, the BRICS will use a part (most likely the “dollar part”) of their currency reserves to support it, thus drastically reducing the amount of dollar-based instruments bought by some of the biggest foreign creditors of the US.
Skeptics will surely claim that a BRICS-based anti-dollar alliance will not manage to deprive the dollar of its global reserve currency status. Instead of arguing against this line of thought, it is easier to point out that Washington is doing its best to enlarge the ranks of the enemies of the dollar. Asked by the Russia 24 channel to comment on Nabiullina statements, Sergey Kostin, the president of the state-owned VTB bank and one of the staunchest supporters of anti-dollar policies, offered an interesting perspective on the situation in Europe:
“I think the work on ruble-yuan swap line will finalized in the nearest future and the way for ruble-yuan settlement will be open. Moreover, we are not the only ones with such initiatives. We know about the statements made by Mr. Noyer, chairman of the Bank of France. As a retaliation for what Americans have done to BNP Paribas, he opined that the trade with China must be done in yuan or euro.”
If the current trend continues, soon the dollar will be abandoned by most of the significant global economies and it will be kicked out of the global trade finance. Washington's bullying will make even former American allies choose the anti-dollar alliance instead of the existing dollar-based monetary system. The point of no return for the dollar may be much closer than it is generally thought. In fact, the greenback may have already past its point of no return on its way to irrelevance.
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Are you living here for years like me? Or are you commenting from your moms basement ?
There is a great divide here. Isan, Chang Rai and Chang Mai are all red shirt. And they speak Isan and think much differant than the yellows. This place is very divided by the rich and poor.
The King and the Army are holding this place together.
Add that to a HUGE bubble in real estate.
When the good king passes. All bets are off and watch out for black swans
Btw, fuck off While you're arm chairing the political world
I really live here.
You think I have any influence here? Lol
I'm just a whoremonger with an MBA
I stay out of politics here. I love the people and banging chicks half my age.
so why bother my self with their problems
It reall much more fun than acting like some Internet crusader.
I'm going for some fish and a massage with happy ending
You have one more post to try and amuse me then go away
You've been here for seven weeks and three days? STFU and know your role. Zerohedge is my sandbox.
I've been here pushing four years. I got street creds. Check out my twitter account. Pachanguero2 Thailand.
Got photos like that? Loser! I'm travaling the world like a rock star!
BTW, how's that hope and change thing working out for you?
Or are you in Germany planning the next Euro country to fuck over?
Like we say here Same, same but different.......
I don't think you do live here.
Nobody here thinks the way you do, unless you're one of those few, far between and now completely discredited Robert Amsterdam, George Soros, CFR kleptocrat carpet bagger wannabees, which based on your own words fits you perfectly.
Why don't you explain these phantom signs of pending civil war that you are claiming to see?
Btw, Ive been here since before Marla jumped the shark. See if you can figure that out.
I'm sure I've been in the LOS longer than you as well. LOS, can you decipher that? ... No.
Better yet, say something in passa Thai. That should be entertaining.
... Crickets
Finally, you stole that mother's basement line from me, which I just used a couple of hours ago to rightly bash Tall Tom for his rampant Russophobia.
Maybe you and Tall Tom are sharing a cubicle together?? Am I right??
I put up my twitter account that says it all.
If you think Thailand's problems are over then you have drank the koolaide aid. Again, you can't amuse me so go away.
Legalize ALL drugs and hookers and the organized crime will have no funding. Then the govt. won't have a reason to "defend" you "volens-nolens".
"Legalize ALL drugs and hookers and the organized crime will have no funding. Then the govt. won't have a reason to "defend" you volens-nolens."
Sure, great idea. It's not as if foreign mafias weren't just waiting for this kind of move. Legalize, and the next you know, you've got Thai, Chinese, Russia, Ukrainian, Colombian, Rumanian et al mafias clogging the streets, shootings at every street corner, showering the market with cheap dope and child prostitution. A radical move for sinking America to the status of an open-air crime corporation and brothel.
I suggest you watch again some mafia movies, because you may have missed a point or two... if you think Goldman Sachs is evil, wait until you have those guys on your doorstep.
You have it on your doorstep right now BECAUSE drugs are illegal. It may sound outrageous to you, but if drugs would be available at the corner shop, then the mafias would lose their business.It wouldn't be cool to buy drugs too. I never said anything about child prostitution. Those who engage in paedophilia should be executed swiftly and publicly IMO. Hollywood Mafia movies are not among my research materials. Cheap drugs won't turn more people to drugs. Unhappiness, lack of moral guidance is driving them to drug abuse.
Silver bitches!!!
USA... Home of unwanted greenbacks and wetbacks
Maybe that's the reason they're letting in all these ignorent wetbacks. They figure they can still pay them with all those worthless greenback when no one else will take them.
Both are drawbacks.
"wetbacks" is the wrong word, including its perjorative meaning... "Undocumented Democrat Voters" is a more accurate term.
Do you think they might vote Republican if the Republican party made an effort to let them in?
In Australia a lot of our immigrants vote for the conservative party because they work hard and don't want to see their taxes being pissed away on the welfare state. They don't want to see their taxes being fed to the racist bogans who tell them to 'fuck orf back 'ome, ya curry munchers and slant eyed gooks'.
Here is a video of one of our native bogan folk really giving it to those Asians: https://www.youtube.com/watch?v=H-Zuu-rsodA
No doubt she is a welfare recipient.
Read a theory that the administration is purposely trying to create a crises on the border to give the UN a "humanitarian" excuse to set up shop on US soil. I can't think of a more likely reason so I suppose that theory is as good as any.
It's worse than that. The purpose is to mix races. To destroy genes. A geno-cide.
you could if you try *warning* involves skull sweat, not just info overload
If we were not looking at a polar shift, Mexico would dominate the US under London guns. It sits on an ocean of silver. (think taxco pots and pans)
Pride always cometh before a fall. When DC started playing God in this world and believing it could do no wrong, it set the stage.
We are the audience.
If economies collapse, then expect RickShaw's to become very popular in Los Angeles and America.
Who will drive those bicycle taxis ?? (ah, the southerners)
Who will help run the different economy...like in post-collapse Rome, there were many 'slave' doing all the work.
Rickshaw vs. gasoline powered.
This may be in our future.
Post Rome collapse created local economies and a middle class. OK, that took a millenium and some plagues but hey, not bad.
Rickshaws - Victoria, BC's had them for years.
edit: pedicab not quite the same.
"And four egg rolls."
1. Who you gonna trust of any of these?
2. What is "lynchpin' or the "backing"? (GOLD?).
3. Watch the amount of banking crime and malfeasance increase in magnitudes.
OK...dumb question. I have been hearing for a while now about the collapse of the dollar. So what exactly is going to happen? Are we going to be pushing our money around in wheelbarrows like they did in the Weimar Republic? Prices skyrocket? Additional unemployment? Any chance this can happen before the midterms? I guess I should start looking for ETFs that short the dollar.
No it's all good. That's not a digital wheelbarrow you're pushing. You're fine. The other side is the problem. Vote for me.
I can have you eating steak twice a year and believing that you're lucky. Trust me.
Martial law, looting...insanity...guillotines...you probably won't be able to buy or sell anything once it starts...so yeah buying guns and canned food may not be the worse investment...I think paper silver/gold will also be useless...but my guess is they will do all they can to keep the kabuki theater going for another 2 years...in 2008 Bush was almost on his way out apparently they miscalculated by like a month or so and ended up landing in it...had they not miscalculated they could have been chest pounding and saying look what happens when you elect democracts. The difference is negligible between the two parties, but still nobody wants to be end up taking the walk of shame before the execution. The good news is that after all of this is over the US will rebuild and grow again, but hopefully without the war empire. I do have to ask has anybody noticed the large amount of movies/shows made very recently where the apocalypse happens? If you search list of apocalyptic films in wikipedia you see a steady increase from the past to modern times. Before 1950 - 4 1950-1959 - 11 1960-1969 20 1970-1979- 33 1980-189- 33 1990-1999- 34 2000- 2009- 58 2010-2014 -39 idk may be it's just a coincidence.
" I do have to ask has anybody noticed the large amount of movies/shows made very recently where the apocalypse happens?"
Well sure. But the next question is, does art imitate life or does life imitate art?
Great question. I think the eletes like these films/shows even more, because its like seeing the future....and also mentally preparing people for slaughtering each other.
Sorry, the only art in what you are describing [Hollywood film] is the art of managed, manipulative propaganda.
Predictive programing. Hollywood controls the collective mindset.It creates the"zeitgeist". It's a formidable weapon.
Predictive programing. Hollywood controls the collective mindset.It creates the"zeitgeist". It's a formidable weapon.
I like your optimism, Stoney. How they handle the gold/silver thing is the wildcard.
The goal is to be counted during the Rapture.
John 3:16
I think if the insanity starts power could be shut off and the banks would simply be closed...so yeah good luck getting your paper gold/silver. Yes I paint a grim picture, but you know what that is the worst case scenario that could happen and if it does happen it's wise to prepared, because if you are not prepared you will most certainly be dead and if you are...well you will have some guns and ammo laying around in case of burglars or something, canned food in case some natural disaster comes along, some seeds that you might actually plant and lower your grocery bill, and some gold/silver that you can sell or pass on from generation to generation.
That's the 64+ trillion dollar question. There are so many ways this could play out. Regardless, the end game is not pretty. You hear a lot of platitudes spoken about "how the dollars will all come home" and what not. Much less often do you hear specifics. You may want to pick up a copy of Jim Rickards two last books, which paint pictures oh how this may go.
I think about this a lot and try to watch for how this will unfold. Have been for a few years now. Don't have any answers, and I'm leery of those who do. Too many moving parts. What comes first is that the non-dollar pacts have to be proven to work over time. That is a Big If. Rickards states that the only entity with a balance sheet that can take on this task is the IMF, with its special drawing rights (SDRs).
We may be getting close to the tipping point. As more and more foreign countries stop using dollars, the question is, what will they do with the dollars? Turn them into gold? Turn them into other currencies? Buy American debt, or not? Will the non-dollar movement spread so far that the US will become the only place where the dollar is accepted? That would "bring all the dollars home" for sure. But a LOT would have to happen before we get there.
The thing you learn too, when you start to study what triggers hyperinflation (the death of the currency), you learn that it can happen FAST. It's primarily a PSYCHOLOGICAL phenomenon. When the dollar rapidly loses purchasing power, because foreign currencies like the Chinese Yuan suddenly become really expensive, because dollars have been sold to buy Yuans as mentioned above.... when that happens there is a point where people panic and start getting rid of their dollars (buy buying currencies, gold, silver, food, land, etc. etc.) and the velocity of money goes through the roof. Then the snake is really eating its tail. The more and faster prices go up, the more people spend them.
But when? This "should" have happened by now, many people who follow this have thought. But we have the countering force of deflation at work. The proverbial unstoppable force meeting the immovable object. As economies wind down/crash, as credit tightens due to risk skyrocketing, demand dries up, money flows slow. Money velocity is a huge component to this.
The thing is, all currencies are in trouble. This article states that a new system is being developed by the BRICS. We'll have to see how that works out. But TRUST is up for grabs (re: hypothecation), and the new system will have to be based to a degree on trust, unless shiploads of resources are passing each other in the night on the way to the respective countries.
This is all uncharted territory.
Old Chinese curse: May you live in interesting times.
BTW - "Old Chinese curse: May you live in interesting times"
Many have heard of this curse. Have you ever heard the entire curse? "May you live in interesting times" is actually #3 in descending order
#2: "May the government become aware of you"
#1: "May you find what you're looking for"
lol number 2 is great)))
You may have noticed - the BRICS are hoarding gold.
Physical gold...I feel bad for Germany.
Why? They have the Central Bank disease same as us. You reap what you sow. The gold is gone.
Rickards is the ultimate insider. What I like about him is that he tells it like he sees it, but I'm sure he knows much more than he writes in his books. He says not to worry, a new monetary system will be created to take the place of the dollar, probably the SDR, backed by a basket of currencies. All well and good for him, he's doing pretty well. It's us guys in the middle class and poor that are going to take the big hit, not him. If he loses 50% of his wealth, he's still doing pretty damn good. If we take that hit, it'll just about wipe us out.
Go long pitchforks, torches, and rope bitchez.
To add to that, I personally pulled everything out of the markets about 4 years ago. There are a few ETFs that short the dollar, but TIMING IS EVERYTHING, especially with the leveraged ETFs. If you feel providence smiles on you in this area you could clean up. BUT, there are good arguments the dollar could go up as well. Many many black and brown swans circling overhead right now.
I personally keep half my resources in PMs and cash (50/50) and the other half in real things like seed, gardens, supplies, medicine, etc. All the usual suspects. Yes, the looters in pickup trucks, or the government, may come and take it away. But what the hell. What can you do? Real things seem the safest bet. And barter objects. Packets of seeds, cases of airline sized liquor bottles. It's all been listed on these pages and others ad-infinitum. Some will take steps. Some won't.
But then there is the universal law that seems to say: when you are absolutely positively sure its A, quite often it will in fact turn out to be B.
I would recommend adding firepower to your list....less chance of anybody deciding that they want to "nationalize" your seeds. Also be good friends with your neighbors if they are good people it's good if somebody can watch your back.
"I would recommend adding firepower to your list....less chance of anybody deciding that they want to "nationalize" your seeds."
Funny. And yes, of course. But I thought it through one time, and that is a big step. I would be hard pressed to not share with someone who had not had the foresight.
On the other hand, if they lay a hand on a loved one or try and take all they have... I wouldn't hesitate for a micro-second to pop a cap right up their ass and throw their carcass in the compost heap. (we also have a backhoe that digs deeper than what police dogs can detect. depending.)
"Also be good friends with your neighbors if they are good people it's good if somebody can watch your back."
It's ALL about that. Most everyone in my hood is a farmer.
:>
You will most likely survive what will happen...yeah I do envy you the farm people are going to be the luckiest. I live in a city, but I have my bag ready to go to a summer house....not enough room to really grow crops, but at least wait out until most of the insanity is over. Good luck brother do take in some good folks if they arrive at your farm.
I can't find the link, but there is a youtube video (I believe it's youtube) of a hybrid kind of hydroponic/greenhouse garden that is is producing vegetables in a small space that is just off the scale in daily/weekly output. The most efficient use of space I've seen yet. Worth looking for in your scenario!!
We also keep lot of canned/packaged goods. I can tell you from personal experience that Mayonnaise will last 4 years or more. Mayonnaise!!. Canned meats, Rice dream, condensed milk, flour, and on and on... all will keep if stored properly. Other things that folks don't always think of... solar oven, solar shower, cans of coleman fuel.....
And don't envy use too much. If we had to actually start living solely 100% from our gardens we'd be in a spot of trouble. We want to add cattle and goats and so forth and such as. Going 100% self-sufficient is a chore. We really should take off our hats to our ancestors who pulled it off. COMMUNITY seems to be the key though.
Cheers!
coleman fuel is about $10 a gallon. you're better off stocking extra propane tanks.
You're right of course. Throw that advice out.
Unless you've been buying them in onesees and twosees for $2.50 to $3.50 a cylinder for the last 10 years, when you've had a couple of extra dollars in your pocket.
(And since you pointed it out, a small solar powered electric grid and small electric stove is naturally more sustainable. Before the solar I bought the tanks.)
I think he's talking about the large bbq grill size propane tanks (actually LNG). It's the best buy for the buck and they last a long time.
If you have a summer house, there is always room for a garden. My 4x4 grows 128 bean plants, for instance. And please learn the basic wild, edible plants in your area - there is abundance almost everywhere.
Not a dumb question and the true answer is no-one knows as there are too many moving parts (h/t pakled).
One thing is the US deficit can only be supported with the petrodollar so if it goes that means either the warfare state or the welfare state has to go (or half each). At least half the welfare state is needed to stop the cities burning down so that means at least half the warfare state will have to go.
So imperial pullback from half the world plus a much more authoritarian government to compensate for the reductions in welfare so something like a cliched South American state from the 1970s would be my guess.
As a first step anyway - predictions get less and less likely past that.
Not necessarily. The USA could grab the resources it needs militarily, and the unemployed youth can be drafted as a substitute for Welfare. Manufacturing employment could make a roaring comeback when the dollar implodes, since we will have cheaper wages than our competitors. As long as the USA is self-sufficient in food, I would bet on our morphing into a military empire.
What Russia and China are doing is preparing the battlefield for later. I expect nothing to change until the new Caliphate grabs control of the Mideast oil resources. Then oil goes to $300-500, and the dollar implodes. This could be years away, or not, so don't make any leveraged time-sensitive bets.
There are some ancient prophecies predicting the entire world will unite and destroy America. It is probably a pretty good bet at this time. There needs to be a fall guy at this point. I don't discount it, we are populated by some seriously retarded people at this point.
Tribe rabbis are urging their flock to get out of America these days.
Dubster, it looks like America needs no help in destroying itself from with-in, which is how it usually happens.
The hoardes will come for the clean-up after.
Good to touche bases Ori :)
Indeed Dub :-)
Are you sipping a pale one?
Yeah I am drinking.
What if China decided to ship their cheaply made products to the likes of Russia and Africa in return for resources?
There's no market. Russia doesn't have the population to buy things, let aone the economy . Since Chernobyl their population has been in decline.
The USD: Fucked like Bobbi Starr and a herd of Mandingos .....in a phone booth.
BUT....let's roll call the BRIC currencies....
Brazil: LOL...please
Russia: Yeah...like the ruble is solid
India: Lots of fucking laughing....serious knee slapping....
China: Yeah.....unless the ChiComs attack, the Yuan is a laugher. In history, China has never attacked an outside country near her size - ever.
South Africa: LOL..sure...keffer...
That's some technical insight you've got there...please continue. Tell us more.
Yeah....like technicals work these days Mr. 17 weeks. Fuck off.
LOVE the down arrows...must mean I'm right!
they're creating a composite currency so yes you'd be right if you weren't wrong in a different and more important way
all in all its just another brick in the wall...
No kidding
The Costanza Option dictates that this is Bullish for the dollar.
Ignore it at your peril
This didn't have to happen. The actions of the USA since 9/11 have been, to say the least, out of control and threatening. The wars, the drones, the claims to be exceptional. And many other things like the looting of the world via dollar hegomony. Is you are an American, then this thing is playing out well. You have the military power to attack and the financial power to print. The only thing is, others see this going on and they wonder if they are next on the hit list. Russia has woken up to the fact that the hit is now been put out on them. Obama and his neocons release threats against China almost daily. Our State Department says "Fuck the EU". The NSA spies on every one, every where, and all world leaders and all world corporations. The smaller countries are knocked off one at a time. Afghanistan, Iraq, Syria, Libya. Hits are out on Iran.
I don't need to go on, we all get it. The wrold is simply waking up to the threat and they are reacting. The dollar is the reason the US can spend twice what it produces every year. It is why government can print to fill the 1/2 of spending taxes don't cover. Inflation is exported via the dollar. A system of wealth imports into the USA and USA export of green paper is leaving world producers with green paper, while oil and manufactured good flood into the USA.
Seriously now, You can't tell me you thought this game would just last forever? I am shocked that this dollar system has been allowed to carry on untouched as it strips the worlds wealth and enables the world's wars. Ukraine is only one world hot spot, but it was the final straw for many, illegal coups, nazis legions attacking villages. What the fuck, it ain't 1942 is it? Well, I am betting, that the Ukraine coup and present civil war was simply one step too far for the rest of the world, minus the tame paid off EU leaders. Populations in the EU are not as supportive as their purchased leaders. But BRICKS see the writting on the wall, the dollar gang is coming to get them too. Even Brazil has figured that much out, when we spied on their oil companies and tried to kill off their economic progress by back door spying on their industries and banks. The recent attack on the criminal French bank who traded with US enemies, well, that will wake up some Frogs too!
What happened in 2008-09 at the depths of the GFC with the massive fraud so nakedly carried out was when things really emerged into the open that the system that is preached to us - that of capitalism - is false. Completely false.
Only someone not paying attention could fail to see this. This may be the vast majority of Westerners, but even among the ignorant many know they are being fucked. They just choose to live in blissful ignorance.
The tipping point at which the rest of the world (led by Russia) started waking up was the campaign to start bombing Syria.
Hang on - there's a Russian military base there? Bombing Syria is bound to piss of the Russians. Isn't this obvious?
Hang on - Syria is Iran's biggest ally, without Syria, Iran's options in Lebanon and Palestine/ Gaza are severely restricted. Trying to force regime change in Syria so openly is bound to piss off Iran (who can always bomb Doha, Dubai, Abu Dhabi, Straits of Hormuz oil tankers at will).
Hang on - so why do we want to bomb Syria to allow Islamists morons to take over from a secular dictatorship? Why oh why?
The stupidity of that was narrowly averted by - thankyou - actual US & British citizens who bombarded their Governments and said stop. WTF are you doing? For once people power averted what would have been (and might still be) a certain disaster.
And then we had Ukraine. The neocons have clearly learnt nothing!
Syria & Ukraine have definitely spurred the Russians to "wake up" and realise what is going on here. Its completely obvious, and luckily for them - there are plenty of allies waiting to join them.
I see a G20 split coming - perhaps in 2015 during the Turkish hosted summit - which happens to start on Friday November 13, 2015 - The Ides of November.
Watch the BRICs split into opposing camps (about 10 each depending on what the likes of France, Italy and the titular European Union do). Do they follow Germany into Russia's arms, or stick with the UK/ USA?
I would predict they'll look East.
And yes - that explains my moniker. The clock is ticking. We have about 16 months........
A point arrives where it is clear, a course correction is required. Maybe you place bets on the impending, necessary course correction. It doesn't happen. WTF!?! The economy, the system roars right past the bridge-is-out sign like a run away train. Now you realise this is all going to crash horribly. They're going to crash the whole casino. Kill their golden goose.
The only answer to why is that we have arrived at peak-fraud. Under the covers, its all been so abused that no part of it can be put right in the clear light of day.
Bond fraud. Stock fraud. Mortgage fraud. Government fraud. War fraud. Affinity fraud even john kohn lurch.
And we have seriously and inappropriatrly pissed off most of the rest of the world.
They trusted us. They trusted our good name. And we stuffed them full of fraud.
Karma adjustment awaits.
Only 3 things to remember-
Oil Petrodollar Control
Debt Infusion Control
Natural Asset Theft
I agree with most of that but not that the problem is "capitalism". What was going on before 2008 and since is corrupt capitalism or crony capitalism. It's a bastardisation of capitalism carried out by criminal fraudsters in the banking system and government. Now being stitched up by more criminals in the central banks and IMF.
You need to understand something. Obama wants the Islamist morons to have their Caliphate. That is why he shipped all those arms to ISIS from Benghazi. He wants the price of oil to go sky high so his Global Warming/Green Energy crusade can be successful. He needs to depopulate the suburbs and herd everyone into the cities so they will have to vote Democrat. This is about political power and implementation of ideology.
"That is why he [Obama] shipped all those arms to ISIS from Benghazi."
I'm glad you mentioned that. It hasn't received anywhere near enough attention by MSM.
Yes, i think the Ukraine coup and the unbelievably blatant lies about it in the bankster media was likely the last straw. It showed fedgov is literally run by gangsters.
Out of the frying pan and into the fire.
Once the Dollar loses its reserve status, the USA will simply grab the resources it wants with raw military power. We will need to keep Canada in our camp, but proximity makes that doable. Instead of being dominated by dollar hegemony, large portions of the world will be conquered outright. I expect Obama's successors to execute this transformation during a crisis.
popcorn...we're gonna need lots of popcorn.
...and modern urban rickshaws to get to work on time.
You get the government you deserve, read the comments here.
http://www.ratical.org/many_worlds/6Nations/6nations1.html#part1a
I'll feel better once I see every member of Congress, Senate, and the White House, and every DC lobbyist tatooed to a wooden cross. Vengence is mine; I will repay, saeth the Lord. I couldn't find a quotable atheist but you know what I mean...
>>>Vengence is mine; I will repay, saeth the Lord. I couldn't find a quotable atheist but you know what I mean...
And, to borrow from the young Jack Kennedy, God's work must surely be our own.
One thing I quickly noticed as I started to travel internationally was all of the news about the USSA that never, ever makes it into print at home. There are wonderful hard news televsion programs which have never existed in the USSA. I love traveling for many reasons, but the eye-opening newspaper, internet and TV news programs are a truly enjoyable experience in themselves. A bit more propaganda now that the EU is in trouble, but all the same, our press here are a bunch of fucking no-nothing numbskulls. Go BRICS! It would be nice to see our "exceptionalism" wiped from our self-righteous faces. So these guys want to disengage from what is esentially a useless world reserve currency, the USD. So do I!
Sure, but just remember there is not an industrialized nation that wouldn't have done the same thing the US has done post WWII, if they had been put in the same position.
Power is first used, then mis-used, then ab-used.
We all share the same human failings.
And... The few pulling the levers just exploit whatever advantages any country has at any one time.
You are correct! I lived China 2009-2011. Most of the native people I spoke with thought Obama was an ignorant, arrogant dick.
Here's a 5,000 yr old cultture being told how to run their country by a moron who never ran as much as a lemonade stand.
Very simply put-SFN
I'd hate to have to pay for that international travel when the dollar gets devalued about 75%.
You might be making a phone call instead.
Elvira? Mistress of the Dark? Haha. Hosting I Eat Your Skin.
"I'll feel better once I see every member of Congress, Senate, and the White House, and every DC lobbyist tatooed to a wooden cross. Vengence is mine; I will repay, saeth the Lord. I couldn't find a quotable atheist but you know what I mean..."
You may see that. we are entering the fifth world and culling of the souls or spirits. The creative concsiouness is well aware of what is taking place here. There is always cosmic justice. We see much smoke and mirrors but remember. we all pay the piper. There are much worse planets than this one and you don't want to be on them!!!!!!!!
"If you use more than 5% of your brain, you don't want to be on Earth."
- The Great Rip Torn
As long as that piper takes Visa, I'm good.
Soon, no foreign government or investor will accept dollar denominated debt from the US government. They will insist it be in their own currency to protect themselves from dollar deflation.
Reminds me of the old joke where the guy tried to screw his wife to death, putin doesen't know it, but we are really giong to make him sorry he ever messed with, what was it he messed with again?
The OIL producing Nations will be next. Petro what! Look out the GOLD STANDARD is closer than we know.
The sooner the better. Long past due. When the politicians flood the country with illegals while there are so many unemployed people the nation is bad shape. At least during the early 1900s the US was a industrial nation, now we exported jobs and manufacturing overseas.
Trying to print to make up for loss of production income eventually shows.
H1-B, orchestrated destruction
I'd give you 1,000 up arrows if I could.
When the SHTF, I for one will be siding with those illegals. They've done nothing but follow their own interests in a truly capitalist fashion. And they will build the guillotines for cheap, Made In America.
'Ides of March' suspended to September?
Why are so few people wide and awake in this world?
Everybody I talk to thinks that everything is fine, here in Canada we dont have any problems and the rest of the worlds problems don't affect us here. Even though Canadians personel debt is higher /person than in the US.
It is very easy to see how the world is in the financial mess that it is in, nodoby seems to care enough to pay any kind of attention to anything, other than whats on sale downtown or lets go drink beer.
99% of the people I talk to have no idea whats going on in the world. No wonder we are where were at. Everyone trusts that their Gov is working for them and not themselves.
First off, your gov is not your friend, friends do not indebt their friends, friends do not steal money ie taxes & inflation, and your friends do not lie to you about everthing. CPI, Unemployment rates, new job stats, and of course long forgotten campaign promises.
Now that we have that straight, your friends should perhaps educate you about debt and compound daily interest and how punishing it can be deep into your life.
Who do you blame? the Bankers, the Gov for allowing this to happen, or the People that just sat back, drank beer, and watched Hockey and then wondered why the SHTF.
Who do you blame for the Gov Debt that is out of control in every country, the Gov or the people that are too busy with Hockey or football or the many other sports that distract you so the Gov can give you the shaft, by indebting your children and grandchildren.
It is time to Elect the best Candidate, and never turn your back on them, take turns making and keeping them accountable, make sure those campaign promises are fulfilled or replace them.
Then it's time for beers!
Why are so few people wide and awake in this world?
cuz it's past midnight?
I'm smoking a big fat "poorly wrapped" Macanudo Boichez!
It's 1600 here.
its like insurance we pay our taxes and think we are covered. Govt is no different than an insurance compamy or the banks. TBTF and TBTJ.
Why are so many asleep? Because, in my terminology, "Operation Dreamland" was put into effect by TPTB a long time ago through the MSM and Edward Bernays. ZH'ers are mostly immune to this deep sleep as well as Constitutionalists, Libertarians, and all those that Ron Paul awakened while running for Pres. I think 10-12% of the people are awake, maybe a few percent more who are unwilling to admit it so as not to be judged tin-foil hat wearing crazies. That still leaves an 85% sleep rate. That is the bad news. The good news is that in 1776, only about 10% of the people wanted to rebel against England, and look what happened there. So, there is a hope, small that it may be.
Know God, Know Hope...
"Why are so few people wide and awake in this world?"
The first thing the banking mafia did was buy the media.
The blame is the population who want their government benefits which cannot be paid. They want others to pay their bills so the bankers inflate and the government taxes all in order to pay for those government programs. There is no free lunch as inflation only means that the poor must pay. ANd btw, Canada too has a housing (financial) criuses. They too are on the same page as the rest of the world. They too are going bankrupt.
No doubt this is all in motion but like a huge ship it will take some time for it to turn, years, maybe decades.
what ever transpires will be from outside. Americans have no idea what is going on. 4 hundred pounders leave stores every day with Aspartame coke. We are finished, Molech won
I just shorted CABLE Biotchez!
First, let me say I am as fed up {no pun intended} as the next person with US aggression techniques. The world reserve currency status enables the crooks and gangsters to bring their plans into fruition. But listen here all of you cheerleaders for the demise of the US$: What is your wages, salaries, pensions, IRAs, and other investments denominated in? Your home and property? Even if you are "stacking" AU & AG, a minimum of 75% of your wealth is in US dollars. No way getting around it. Let that sink in a bit. Are you ready to watch 75%+ of your life's efforts take a 40%+ haircut? I long for a better America {which frankly, I can't imagine under the present circumstances}, but I dread what is coming. The austerity that has hit the PIGS nations will make the coming US austerity look like a cake walk. I don't look forward to it.
Oh, wow... so scary.
Please give me a minute while I try my best to give a fuck.
Mom's basement must be safe and warm......
You're the bitch who knows...
I think the inevitable US domestic inflaton that follows a gradual demise of the USD as global reserve currency is fairly well undestood by ZH-ers, if not by the wider population.
Personally, I do not see this demise as happening overnight. When reality finally faces TPTB & IMF, it will be co-operatively managed to happen over a longish period. BRICS and others will buy that to avoid a major collapse in global markets.
At least one BRIC is suffering inflation....seems there is plenty to go around
The slow part of the process you are describing is already happening. When 100,000 people lose their jobs, it is just 0.1% lower income for the country but usually over 50% for the people concerned. The faster part which will be sudden will imply a 30 to 50% income and asset prices drop for all of us. (Certainly more in Japan than in Canada although it is very hard to predict.) This will not be a process but a sudden loss of confidence in the market. This is why the Central banks of the world are all in offering guaranties for both assets and their shadows. This will work until it doesn't. A disruption of the gas flow in Ukraine or Oil in the Gulf could precipitate a crisis. Less well known but as likely, so would a disruption of rare earth availability in China or of the global chain. The world economy is flexible against one type of disruption but not against the cummulated effects of several although this is exactly what we are facing right now. All these monetary discussions are but foreplay and preparations for "after". For what I see in the US, Japan and China, we are already entering a new recession. As in 2008, the market will only realize it around the end of the Summer... and will become "unstable" in the fall.
The timetable can be accelerated by deliberate action of political actors like Russia and China. Also, it is clear that the Caliphate will take over all the oil in the Middle East and become a universal Islamic Empire. Whan that happens, the petrodollar will be dead. Oil will go to $300-500/barrel.
Yes it can be accelerated, but is a global economic slide what BRICS really want?? I doubt it. They have their own economies to think about.
It's in their best interests to "manage" the USD decline to make the transition as steady as possible and avoid unwanted consequences. These could be made worse by USG action in a fit of pique or last-ditch-stand as it were. And the IMF will get involved.
The unknowns are in the Middle East who are well accustomed to chaos and won't be put off by creating more of it.
agree on your doubt. note that the IMF's members want to increase the shareholdership, and the only one that is against it is the US Congress. a pity there is little serious reporting on this
IIRC the US currently has 16% voting power on the IMF based upon contributions. If the USG handed out more voting power to other countries, it would have to reduce its own. That means it would lose overall control.
That is why the BRICS are setting up their own parallel "IMF".
We are seeing major global institutions like the IMF, WB & UN - set up by the US & UK after WWII to further their own interests and influence - being diluted and sidelined by developing countries who've "had enough".
Can't say I'm sorry about that because they've all become far too powerful, abusive of power and of course are completely unaccountable to any citizen anywhere.
The long term management comes into play here. Notice that Russia and the USA are both sending arms to Baghdad.
Agreed. According to someone high up in the finance world, dollar collapse will happen but forecasting when is not nearly as easy as most make it out to be. This person's assessment: within 20 years, and the bull market isn't anywhere near over. At absolute minimum a few years out, but more likely the absolute minimum is several years out (5-7). More time to prepare, but take nothing for granted. Do what you can and learn a new trade/career by boosting your education online. Work to make yourself "anti-fragile" (as NNTaleb would say) or at least resilient.
Yes, be careful what you wish for.......
I recently flew over Cape Canaveral....abandoned.....
The day I flew into India Mr Modi watched an Indian Rocket loft 5 separate satellites into space successfully.
Be careful what you wish for...........
indian food, sublime, american food sub prime. We are what we eat.
It is funny, the subway here sells better food than the US subway, hahaha. More choices, too. Actually traveling around to do my job has made me discover almost ANY country's food is better. I stay in places the chef gets the food maybe 1 day from the farm for a lot of his supplies.
It must be Karma. The US is a sinking ship, but the rest of the world is floating higher. There is inflation everywhere, though.
A teetering empire is a dangerous one. The slow slide is already underway and there is no stopping it. So yeah, while I don't look forward to it, I do acknowledge it.
The banking mafia have been working to replace the white population for 60 years so if the choice is slow genocide or economic collapse i'll take collapse.
It's actually beneficial to the whites. They aren't as dependent on Uncle Sugar. The blacks will riot, like they always do. The only difference this time is they won't get bigger handouts. They will get shot at by the National Guard, like 1967's Detroit (Gov. George Romney, Mitt's dad).
It was a done deal when Clinton gave China MFN status. It's nearly taken 15 years to get here. Prepare for Mexico 1980's.
The sinking of the US$ has hastened recently, ever since JPM got cute and tried to prohibit Russia from using SWIFT to pay some embassy expenses.
I wonder if Dimon's cancer doctor is a Russian?
I'm going to short gbp/aud in the next 8-12 hours biotchez.
There are only two possible outcomes:
A. The USD's reserve currency status is finally put to an end, and the world becomes a safer place.
B. The USD's reserve currency status continues, and American psychopaths usher in nuclear armageddon.
Notice the outcome of either scenario is destruction of the dollar.
C. The USD's reserve currency status is finally put to an end, and the world becomes a more dangerous place. The USA simply grabs the assets and resources it wants with raw military force, instead of buying them with a currency it prints. Ultimately, this leads to World War III.
USA can't grab anything. Raw military force has no Commander in Chief and the USD has no value. WWIII has a different face.
Elvira and Vlad are out to get the Kenyan.
You just can't make this shit up.
"Report touts Bitcoins over bucks for OPEC … uh-oh": http://venturebeat.com/2014/07/02/report-touts-bitcoins-over-bucks-for-o...
re The BRICs Are Morphing Into An Anti-Dollar Alliance...
all thanks to the ZIO-Punks running the USSA
It is time to dump the Dollar
It is blood money
It is not money, rather hegemoney
It is the devil's instrument which robs your soul
Be free from Dollar and attain salvation
Dollar domination like the East India Company
Using Dollar & Internet America has cast its net on the entire globe and sucking up its very soul leaving the whole world in ruins.
Using Dollar means accepting slavery of America
Dollar is the Dead Mans Chest and America is the chief of pi;rates and western world is its companions - parrots & p00dles
Where ever dollar goes , death goes there
Still quite difficult to see how to reconcile Russian and Chinese interests. The Chinese need a cheaper Yuan to keep their economy humming, the Russian higher prices for commodities to square their budget. Guaranteed cheap gas and oil prices denominated in Yuan? But if the dollar crashes and with it the world economy, it is likely that the dollar denominated price of almost everything will be cheaper in 2016 than whatever was fixed in 2014 in Yuan. To make such a deal work the Russian must accept a rather high NPV loss and the Chinese a high future value risk. Unless they believe that the dollar market will close for whatever reason in which case it doesn't matter. If it is the later then we are indeed entering a new age but why on earth are the markets not pricing in such a huge risk?
.
I'd say the Chinese need to keep the Yuan in balance during it's transition to a more reserve currency status as well as the transition away from the US as the "default" consumer market.
They have sound geopolitical reasons not to use the dollar except for trade with the US. They can use Euros, Pounds, and their own currencies for everything else. And the dollar is going to crash anyway, once the Caliphate wins control of the whole Middle East and controls all the oil. At that point, they can insist that the US dollar not be used in trade at all.
So, BHO's banking puppet masters are short treasuries?
If the US$ crashes, nothing sold on the international markets will be priced in US$. Prices in US$ will be just as relevant as the prices in Argentine Peso or the Zimbabwe $. Of course, before the US$ can crash, there has to be another reference currency to price things on the international market in. It may be a currency issued by the BRICS bank to be established for that purpose or a virtual currency like the IMF SDR.
It is not a risk markets can price in. It is going to be Black Swan event and there is no way to price the risk of Black Swans in.
If they are going to back it by gold, then gold denominated value will matter, when dollar becomes trash
CTRL-P Print Federal Reserve Notes
CTRL-L Launch nukes when CTRL-P fails
CTRL-R Global revaluation and gold backed Treasury Notes
I'll take CTRL-R over a 5,000 degree day thank you.
US gold is gone...
One key point missing. If they abandon the dollar and establish a new trading currency. They do not have large enough financial markets to invest the currency of trade. They will need exchangeability and ease. Enter Cryptocurrencies like Bitcoin backed by real assets.
Very good point. The depth of the market is indeed key. Now if all you have left is a central bank buying all the notes issued by the tresury as it is almost the case in Japan now, where exactly is the "Large Enough Financial Market"?