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De-Dollarization Accelerates As More Of Washington's "Allies" Defect To China-Led Bank
The global de-dollarization trend continues as it appears the UK’s move to join the China-led Asian Infrastructure Development Bank has indeed shown other US “allies” that spurning Washington’s advice is actually acceptable and concerns about the institution’s “standards” may simply be a diversion aimed at undermining China’s attempt to exercise more influence in its own backyard. Here’s more from the NY Times:
Ignoring direct pleas from the Obama administration, Europe’s biggest economies have declared their desire to become founding members of a new Chinese-led Asian investment bank that the United States views as a rival to the World Bank and other institutions set up at the height of American power after World War II.
The announcement on Tuesday by Germany, France and Italy that they would follow Britain and join the Chinese-led venture delivered a stinging rebuke to Washington from some of its closest allies. It also called into question whether the World Bank and the International Monetary Fund, which grew out of a multination conference in Bretton Woods, N.H., in 1944 and established an economic pecking order that lasted 70 years, will find their influence diminished.
The announcement by Germany, Europe’s largest economy, came only six days after Secretary of State John Kerry asked his German counterpart, Frank Walter-Steinmeier, to resist the Chinese overtures until the Chinese agreed to a number of conditions about transparency and governing of the new entity. But Germany came to the same conclusion that Britain did: China is such a large export and investment market for it that it cannot afford to stay on the sidelines.
South Korea, another US ally that the Obama administration has not-so-subtly lobbied to stay out of the AIIB for the time being, is reportedly reconsidering a bid to join and although reports that Seoul had already committed to the venture appear to have been a bit premature, the country will make a decision this month and is expected to discuss specifics this weekend at a meeting with Chinese and Japanese officials. Here’s FT:
The foreign ministers of China, Japan and South Korea will meet in Seoul this weekend for the first time in three years, in an effort to calm tensions in the region.
The trio have strong economic ties but frosty relations. International angst about this state of affairs among the regional superpowers has been further piqued by the Asian Infrastructure Investment Bank, a Chinese-led initiative sparking alarm in Washington and proving divisive elsewhere.
Meanwhile, even Europe’s own “magical fairyland” is taking the plunge. Via Bloomberg:
China welcomes Luxembourg’s application to be a founding member of the Asian Infrastructure Investment Bank, China’s finance ministry says in a statement on website.
And so, with the most European of European countries on the bandwagon, and with South Korea leaning unmistakably towards joining up, we say again:
Bottom line: this isn’t theory or conjecture anymore. Every shred of objective evidence suggests that the dollar’s dominance is coming to an end.
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Gold, bitchez!
Birth, growth, maturity, decline, death.
Near death experience.
We should be in this on the ground floor. But ego's will prevent it.
It won't be nearly as peaceful as the natural end to a life cycle there bud.
"Sadly, looking back through economic history, all too often war is the manifestation of simple economic entropy played to its logical conclusion. We believe that war is an inevitable consequence of the current global economic situation."
-Kyle Bass
When the alternative to the dollar was offered in the past, it never gained much traction. Now that the debt bubble worldwide has reached biblical proportions, the time for collapsing the bubble has arrived. hence the big players in the global economy are now moving to protect themselves and the flag may be ready to go up.
With all the attention being given in certain quarters to the seven year economic and monetary cycles, it may be time to act accordingly. Much ink has been given to the history lessons on woar, again a seven year cycle and a coincident timing with the seven year cycle.
Makes you wanna go, Hmmmm...is 9/2015 another significant marker in the great space/time continuum?
DaddyO
Pure, unadulterated propaganda by ZH here.
Look at reality, current reality, to see the complete B.S. in this hogwash article.
Either the EUR has to continue plunging vs the USD - OR the EU will break up (which means most of the PIIGS leaving, and even France & the UK being forced to devalue living standard in order to maintain an even remotely sustainable balance of trade & sustainable budgets).
Mr. Yellen & Mr. Lew (and their bosses, more importantly) can't defy gravity & have it both ways (and their bosses are very international/global in their citizenry, btw).
As it is, and this is a stark sign of things to come - even Germany's famed middle class & union membership is going through the same process that the U.S.'s middle class did beginning in the early 90s (Germans are seeing manufacturing jobs go to the Czech Republic, Slovakia, Croatia, Turkey, Poland & even Romania & Algeria).
Also, the BRIC block of nations' economic & financial travails have only yet begun.
Look at what's happening in Brazil just this past week for a small appetizer as to what lay ahead. Brazil could be very well be headed for some sort of civil war.
China, as the big BRIC rep, will join hands with Japan & PIIGS in ensuring that there is currency debasement relative to the USD for a long time to come, no matter what ZH articles are posted daily about an alleged shift away from the USD, as a matter of basic survival.
It's all about export-intensive nations vs import-intensive ones (balance of trade of manufactured goods; and aircraft count only marginally as they're more of a token tool to smooth imbalances out), and commodity prices.
Agreed with a lot of this although Brazil civil war is a bit of an esaggeration.
But actually the TPTB are getting ready for a developed ctry meltdown and the US is shitting itself that this new bank will be the first port of call, not the IMF. Check out this link.
https://www.bullionstar.com/blogs/koos-jansen/un-preparing-for-global-sovereign-debt-restructuring/
Washington Consensus completely falling apart. Another nail in the coffin of the US. BRICS are clearly screwed as well, but it doesn't mean the "developed" world isn't either.
That ignores the fact that we're in a fiat credit system, and that the
marginal utility of each newly created unit of credit is far weaker than the last in a situation where the past credits are so incredibly mis-allocated/mal-invested, and that they've "pooled" into incredibly inefficient & highly concentrated bathtubs, so to speak.
In other words, the world still runs on credit/debt, Central Bank coordinated policies of the last 6 years have ensured that marginal utility of each new credit unit created will inevitably shrink, while at the same time, the credit/debt create hasn't even been remotely efficiently allocated over anything approximating a wide area.
We have a highly distorted, patchy, schizophrenic, incredibly inefficient monetary/credit base, where there's no possibility of avoiding another deep cyclical downturn because those who can spend in a discretionary manner don't need to (and are relatively few in number as a % of overall consumers), and those who can't spend in a discretionary manner are constrained dramatically in being able to do so, are a MASSIVE % of overall consumers on a relative and historical basis.
So, the question remains, when do all those paper claims on real goods and services and real resources, start seeking them out? If history is any guide, the "value" of all that paper can be reset in a fucking hurry. Either officially (by government degree-has happened three times for the dollar over the last 100 years), or "unofficially" through currency collapse. One option might be better than the other... ...or not (it is a global economy now).
tick tock motherfuckers...
IDK.
The best analogy I've heard, and now use, is that central banks continue to pour water (the credit) into relatively few bathtubs of an already extreme situation wealth divisional system (let's assume 90% of credit/tokens are being received by the top 10%, and further, of this 90%, 75% of it is actually flowing to the top - not 1% - but the top .3%).
So, the credit/token levels bathtubs of the top 10% are stable, the credit/token levels bathtubs of the top 1% are growing moderately, the credit/token levels bathtubs of the top .3% are full, and the credit/token levels bathtubs of the top .1% (that is the top 1/10th of 1%) are overflowing and spilling into drains on the floor, while the credit/token levels bathtubs of the bottom 89% are receding.
I sometimes wonder if they didn't stave off collapse in 07/08 BECAUSE others were better prepared for it, than TPTB were! So they decided it was better to give 7 years of pain to stackers, and make them look like nutjobs in their local community, before allowing the collapse...
"It's all about export-intensive nations vs import-intensive ones (balance of trade of manufactured goods; and aircraft count only marginally as they're more of a token tool to smooth imbalances out), and commodity prices." -- This, once again, trade is the only thing that prevents humans from really killing each other. Everything else is fucking noise.
same as it ever was,
tick tock motherfuckers...
At this point, only the truly imbecilic can't see that further accommodative monetary policy is not only not stimulating aggregate demand, but actually putting extreme pressure on most to further cut consumption, and ultimately, merely being used as a conduit by excessively few economic/financial actors to squirrel away arbitrage gains.
p.s. - I should've added tanks, missiles, APCs and other defense oriented wares into the mix with "aircraft" above, and for the same reason.
Many of our trade partners, whether providing oil or machine goods, can defuse trade imbalances that run the risk of creating political problems by buying some Boeing 787s, F-16s, Bradley APCs, Abrams Tanks, etc.
Don't you fail to make a point in your theory how/why the USD can continuously keep strengthening?
It's based on 1) relativity, 2) trade flows, 3) the composite of those goods/services traded, and 4) export-to-import dependency of national GDP (and GNP).
Here's an example: Where did BMW, based in Munich, Germany, sell the majority of its exported vehicles last year, and what does a cheaper EUR mean in terms of comparative advantage for their exports?
I strongly agree with all of your foregoing comments and analysis. In the UK the export/import situation is referred to as the balance of payments. The UK has had a balance of payments imbalance since the mid 60's (at least), since businesses find it easier to make money by becoming importers rather than manufacturing exporters. Churchill put it succintly when he said: 'If trade doesn't cross frontiers, armies will.' The totally unrealistic valuations of both the dollar and the pound are a reflection of overall trade flows in both countries, but without acknowledging that both are increasingly bubble driven on the one hand and ignoring the long-term consequences of ever growing balance of payments asymmetry. Add to this the occasional outbreak of competitive devaluation, certainly by the UK and involuntarily by the EU and you have the making of an economic model far removed from reality, when govts come to believe that the day of reckoning will never come because 'everybody is doing it', leading to the we're all in it together delusion. The classic response to cyclical crises has been to engage in foreign adventures on the battlefield as a means of distracting attention from what is actually going on.
The USD has still got a lot of that elusive quality known as "charisma".
Laugh all you like but I have personally seen people go all weak in the knees when they behold a US dollar for the first time in their lives.
So much of int'l. trade is still inextricably tied to the USD in varying degrees... I sure wouldn't want to be trying to protect my manufacturing exporters from behind a forex desk lately. Bloody hell what a fucking mess.
As for the constant comments about some impending war: believe me, no one anywhere in Europe has the slightest inclination to oblige you American armchair generals and/or heavily armed cyber-cowboys. Go fight your own fucking war.
On a lighter note, let's see what effect tomorrow's solar eclipse will have on EUR/USD and CHF/USD.
Stronger than Yellen and The Klezmer Palace?
The USD has support from the ZWO banksters because they are still borrowing their worlds largest army.
Once the US has been used up, the banksters will pull the plug on the USD and sink their parasitic tentacles into China. Not until then.
The dilemma is that the Chinese are far more homogeneous in ancestry/genetics, and far more nationalistic/parochial.
It will be impossible for ZWO to hijack China in the same manner as the U.S.
Plus the Chinese are prepared, I hear that the Protocols of the Elders of Zion as well as the Yearly Notes of the World Jewish Congress are mandatory readings for those groomed to enter the Chinese government beauracracy.
ah yes, the 20th. 9 trillion plus in dollar denominated debt will force countries to get the money from the imf, at imf terms, which wont be pretty.
This post is the best summary of how we got into this mess. Starts slow but worth the read:
http://debtcrash.report/entry/history-and-introduction
Some of the other posts on the site are good as well.
Every time a bubble bursts it destroys trillions of USD in investments and the M4 money supply.
http://econdynamism.blogspot.com/2008/05/housing-bubble-vs-tech-bubble-loss-of.html
In the tech bubble and the real estate bubble destroyed over $4.5 trillion that has not been replaced.
As bubles destroy more USD it drives the value of the USD up and the ptroleum markets maintain their USD only policies and thhus there is an eternal demand for USD...unless the Saudis change their minds.
i think kyle might have also gotten suckered into the "shale boom" meme. kyle is a cool guy dont get me wrong. he reminds me alot of what i would do if i was a billionaire- fast cars, gun ranch, gold... but unfortunately i dont buy his USA has recaped their banks everything is a-o-k meme
"...what i would do if i was a billionaire- fast cars, gun ranch, gold..."
What, no hot women?!?! Are you in your 80's?
im an old soul ;-) i like to think of it as, paying them to leave, not to stay. never let a them in your man cave.
Amen
I thought he was going to answer "two chicks at the same time."
"What, no hot women?!?!"
Who the fuck cares what 'Kyle' does with his dreadful, circumcised (i.e. wrecked) dick.
What makes you think he doesn't have fast cars, guns, gold, and a ranch?
You'll know that the "re-set" has arrived when you can get two hot babes for the entire night, in exchange for one can of condensed milk.
Yay, another supranational bank dealing with more conjured debt money.
Nothing to root for here, just another band of shysters trying to gain a seat at the big table.
pods
pods,
Maybe, but it will give an alternative where, to date, there hasn't been one.
DavidC
Currency wars still raging. Apparently "they" still think it matters. Animal instinct I guess to fight for every scrap until there is nothing.
Squirrels seem to be practical savers........
pods is right, davidc. this isnt a real alternative. thats like saying a horseshit sandwich ia an alternative to a dogshit sandwich. its still just a shit sandwich
I can't disagree with that! :-)
DavidC
After years of eating horseshit, a dogshit sandwich might be viewed as an enjoyable variety.
Horseshit does stink a bit less than dogshit.
Fragrance is in the nose of the beholder.
what's with so many signing their comments now. as if their name isnt there already along w' their pic. guess that makes it a Special Comment as opposed to the rest of us?
-moonshadow
Goddamn right. Where ya been the last 5 years?
pods
Agreed,
We don't need to see your names all the time. If what you say is good consistently, you will be known.
"You are not special. You are not a beautiful or unique snowflake. You're the same decaying organic matter as everything else."
Yup, another shit sandwich, but if it has the side effect of making Washington DC a lot less relevant in my life, I'll gleefully watch others take a bite.
I've made a conscious effect to step away lately. Maybe pop in every couple days and check headlines. It REALLY helps with life.
Glee indeed.
pods
So they are going from one Rothchild led bank toanother Rothchild led bank and the winner every time is _____________?
Psychopaths.
My thinking exactly! They want us to believe there's some sort of currency war going on between countries. But they're all on the same team! The dollar will be dethroned and replaced by another and the Rothchilds will win again at our expense.
Its the Benny Hill musical banking chairs.
It was fun while it lasted.
hahahahaha, in your face you incompetent, corrupt, arrogant, narcissitic, illegal indonesian kenyan alien muslim socioptahic patholocial lying fudgepacker.... in your face.... and why can't you just keep your lying trap shut...
“Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket.”
Eric Hoffer
FORWARD SOVIET!
Yeah, fuck you barry!
"We've lost some folks"
Happily, only those nations that Obama has pissed off will join the new banking system.
Unhappily, only those nations that Obama has not pissed off will refrain from joining the new banking system.
Yeah but... Howz zisis 'brackets' doin'?
South Korea and Australia were lobbied heavily by US to not join AIIB . lobbying means bribing which is legal for usa regime but the same regime will overthrow foreign nation govts for being corrupt . HAHAHAHAH HYPOCRITES . jimmies rustled.
North Korea will keep hoarding dollars, you just watch.
And Kerry...
The US is freaking out because it knows that China is getting ready to liquidate a massive number of their US Treasury Bonds and invest those USD's into acquiring product assets aroundteh globe. Done right this will allow China to acquire massive global resources and destroy the US powerbase over then next 10 years.
Oh? Guess they didn't see that one coming..................
Are you suggesting that China is going to be reasponsible for unleashing massive amounts of paper claims on real assets that do not exist? That doesn't sound very stabilizing...
They've been setting those deal up for some years now - big contracts with future payments in USD: guess where the money comes from to make those paymentsf? Once that money comes out of the deep freeze - i.e. accelerates from zero velocity, you get the first steps towards big inflation - completely out of the control of Fed policy because the money is already out there.
So when China sells its bonds and takes dollars, how is that zero velocity in the US going to move? It isn't more money flowing through the US economy. All that money you think that will cause inflation is just going to pay off old debts. This is why inflationist get it wrong.
If anything, China or everyone selling their bonds puts pressure on interest rates to move higher against the FRB's wishes. And please, don't confuse higher interest rates with inflation.While the cost of the dollar through loans may rise(higher inflation), that does't mean everyone will PAY that cost. Most of us won't be able to afford it. Say goodbye to that steak. We'll learn to live without it. THAT IS THE DEPRESSION THAT LIES AHEAD IF YOU LIVE.
Global depression ahead much like the Great Depression. Except this time it will be the Great Great Depression.
only, this time with 7+ billion mouths to feed and numerous countries with tactical nukes...
FYI, I'll butcher another cow if I want more steak.
interesting times, great opportunity.
How will you avoid confiscation?
Of what? Be specific. Easy to appear "poor" on paper, can be done in person too. After all, you wouldn't want me to have to fire all these good people now would you?
The question is, how are they going to enforce mass confiscation of anything when the dollar dies? It takes resources for mass enforcement if the population decides not to go along, and those resources come from the dollar's reserve currency status.
Boy oh boy, wasn't passing NAFTA and GATT and all of the other toxic swill masquerading as "trade agreements" just the best idea ever? Gosh, that sure ended up turning out just ever so well, didn't it? It's really amazing how many of the worst problems here in the US are a simple matter of bad policy.
Wait until we all behold the TPP!
Only then will all vestiges of sovereignty be vanquished by the Globalists.
DaddyO
Sunset - wonder why none of the MSM outlets are covering this story?
Its real relevant news that is pretty important in the grand scheme of things, why would they cover it?
Besides, the MSM employs repeaters, not reporters.
I don't
Because Lester Holt, NBC's new loser for Brian Williams couldn't figure out a race angle, so he could talk about an unarmed black teenager that was shot by racisss white cop. And he has no idea of what any of it means, same with CBS & ABC. White House talking points didn't cover it, so why should they. Barry doesn't know anything about this, either. Move on, nothing to see here.
The media is frothing at the mouth, at the very idea that there will be another white male 'nutjob'... They have waited a long time, and all the sociopaths in elected office, all the manufactured terrorism, does not constitute news.
But if one person, preferably white and male, would just lose their mind in violent fashion, it would give the media something to concentrate on for the next, say, 6-8 weeks.
because, nope-1004, covering this story would harsh everyone's vibe man...
Get to work Mr. Chairman!
Mr. Yellen: "Whatsamatter... Don't you use my fiat toilet paper?"
Sorry! It's too fiat for my ass!
Do you think Obama dials David Cameron over and over and leaves 27 voicemails every night on his phone? Begging him not to leave, promising change, demanding a breakup and then suddenly bursting into tears?
Maybe Taylor Swift should write a song for him.
Maybe she needs to pay more attention to her hygiene if she keeps getting dumped.
Cameron still has his dick firmly stuck up Obummer's arse.
You only have to view his US-sponsored bullshit rhetoric on the Ukraine to realise that.
So let me get this right, having some serial defaulter name Donaldo Trumpeter as president will solve things?
Just drink more.....
All presidents are fucked or they don't become presidents.....
The USA can't even play the "It's my ball, I'm taking it and going home" card.
No, I think Obama is looking over the spring catalogue of new golf clubs.
Global economic balance continues changing towards BRICS
Do you blame them?
I wish I could get paid in something other than dollars, too.
After 40 years of dollar debauchery, they've had enough. Fuck the Fed, and Fuck Congress. The rest of the world doesn't have to stand idlely by while the bastards go a trillion more into debt each year.
+1
then move to Costa Rica!
We are going 5 trillion more into debt every year using gaap
fascinating interview on usawatchdog with kotlikoff and is a must listen
http://usawatchdog.com/financial-system-will-collapse-just-a-matter-of-w...
GAAP? There is a solution, just use fantasy accounting (as is used currently) indefinitely! What could go wrong? Double down, bitchez!
You will be able to tell your grandkids about real Accounting.
The king is dead, long live fiat haha
The Bankruptcy of The United States
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House:
"Mr. Speaker, we are here now in chapter 11.. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise.
It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 - Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.
The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: "The U.S. Secretary of Treasury receives no compensation for representing the United States?’
Gold and silver were such a powerful money during the founding of the united states of America, that the founding fathers declared that only gold or silver coins can be "money" in America. Since gold and silver coinage were heavy and inconvenient for a lot of transactions, they were stored in banks and a claim check was issued as a money substitute. People traded their coupons as money, or "currency." Currency is not money, but a money substitute. Redeemable currency must promise to pay a dollar equivalent in gold or silver money. Federal Reserve Notes (FRNs) make no such promises, and are not "money." A Federal Reserve Note is a debt obligation of the federal United States government, not "money?’ The federal United States government and the U.S. Congress were not and have never been authorized by the Constitution for the united states of America to issue currency of any kind, but only lawful money, -gold and silver coin.
It is essential that we comprehend the distinction between real money and paper money substitute. One cannot get rich by accumulating money substitutes, one can only get deeper into debt. We the People no longer have any "money." Most Americans have not been paid any "money" for a very long time, perhaps not in their entire life. Now do you comprehend why you feel broke? Now, do you understand why you are "bankrupt," along with the rest of the country?
Federal Reserve Notes (FRNs) are unsigned checks written on a closed account. FRNs are an inflatable paper system designed to create debt through inflation (devaluation of currency). when ever there is an increase of the supply of a money substitute in the economy without a corresponding increase in the gold and silver backing, inflation occurs.
Inflation is an invisible form of taxation that irresponsible governments inflict on their citizens. The Federal Reserve Bank who controls the supply and movement of FRNs has everybody fooled. They have access to an unlimited supply of FRNs, paying only for the printing costs of what they need. FRNs are nothing more than promissory notes for U.S. Treasury securities (T-Bills) - a promise to pay the debt to the Federal Reserve Bank.
There is a fundamental difference between "paying" and "discharging" a debt. To pay a debt, you must pay with value or substance (i.e. gold, silver, barter or a commodity). With FRNs, you can only discharge a debt. You cannot pay a debt with a debt currency system. You cannot service a debt with a currency that has no backing in value or substance. No contract in Common law is valid unless it involves an exchange of "good & valuable consideration." Unpayable debt transfers power and control to the sovereign power structure that has no interest in money, law, equity or justice because they have so much wealth already.
Their lust is for power and control. Since the inception of central banking, they have controlled the fates of nations.
The Federal Reserve System is based on the Canon law and the principles of sovereignty protected in the Constitution and the Bill of Rights. In fact, the international bankers used a "Canon Law Trust" as their model, adding stock and naming it a "Joint Stock Trust." The U.S. Congress had passed a law making it illegal for any legal "person" to duplicate a "Joint Stock Trust" in 1873. The Federal Reserve Act was legislated post-facto (to 1870), although post-facto laws are strictly forbidden by the Constitution. [1:9:3]
The Federal Reserve System is a sovereign power structure separate and distinct from the federal United States government. The Federal Reserve is a maritime lender, and/or maritime insurance underwriter to the federal United States operating exclusively under Admiralty/Maritime law. The lender or underwriter bears the risks, and the Maritime law compelling specific performance in paying the interest, or premiums are the same.
Assets of the debtor can also be hypothecated (to pledge something as a security without taking possession of it.) as security by the lender or underwriter. The Federal Reserve Act stipulated that the interest on the debt was to be paid in gold. There was no stipulation in the Federal Reserve Act for ever paying the principle.
Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913)
"Hypothecated" all property within the federal United States to the Board of Governors of the Federal Reserve, -in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a "beneficiary" of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their "subjects," the 14th Amendment U.S. citizen, to the Federal Reserve System.
In return, the Federal Reserve System agreed to extend the federal United States corporation all the credit "money substitute" it needed. Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn’t have any assets, they assigned the private property of their "economic slaves", the U.S. citizens as collateral against the unpayable federal debt. They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers.
Unwittingly, America has returned to its pre-American Revolution, feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the people have exchanged one master for another.
This has been going on for over eighty years without the "informed knowledge" of the American people, without a voice protesting loud enough. Now it’s easy to grasp why America is fundamentally bankrupt.
Why don’t more people own their properties outright?
Why are 90% of Americans mortgaged to the hilt and have little or no assets after all debts and liabilities have been paid? Why does it feel like you are working harder and harder and getting less and less?
We are reaping what has been sown, and the results of our harvest is a painful bankruptcy, and a foreclosure on American property, precious liberties, and a way of life. Few of our elected representatives in Washington, D.C. have dared to tell the truth. The federal United States is bankrupt. Our children will inherit this unpayable debt, and the tyranny to enforce paying it.
America has become completely bankrupt in world leadership, financial credit and its reputation for courage, vision and human rights. This is an undeclared economic war, bankruptcy, and economic slavery of the most corrupt order! Wake up America! Take back your Country."
thanks for this.. +1
Explains why they gave him the treatment.
wonder if the above speech is why he really went to jail...
Kennedy wanted to change over to the FRN and get rid of the us foe dollar. They blew his brains out. Barry is not that stupid.
I looked this record up, found at the link below. It's only the same in the beginning paragraph. Thoughts?
Congressional Record - 103rd Congress (1993-1994) - THOMAS (Library of Congress)
http://thomas.loc.gov/cgi-bin/query/F?r103:2:./temp/~r103NaJwX0:e11965:
Some people will believe anything and change wording to suit their agenda.
Here's the link.
http://www.afn.org/~govern/bankruptcy.html
Youtube of actual speech.
https://m.youtube.com/watch?v=ek_3X2ONCx0
The video shows the words of the speech you show above, which, again, don't match the record at the .gov site I cited at the link. The sound overlay is music, providing no additional information.
Unless the official record was doctored (not out of the question), I can't help but to conclude this is simply not true.
Any congress critter can put whatever they want in the federal register. Some of this is true and some of it is not. What can we do about it? Nothing at all. Read it a lot, memorize it, nothing will change, it is mostly meaningless words. Real change requires action. The government has the power to destroy anyone they choose. Resistance will accomplish nothing. Do what you can to protect yourself and family, make as many friends with good people as you can and become as self reliant as possible. Nothing else matters.
Then the FBI charged him with racketering and bribery which he was convicted and spent 7 years in the Rochester Federal Prison.
Jim died in September of last year shortly after a tractor accident on his farm in O-H-I-O.
He spoke at our End the Fed rally in Cleveland.
One of these days... "BANG, ZOOM! Straight to the moon! - Ahhh, shaddap!
so many loose dollars out there nowadays that the hard money lenders can compete with da (money from nothing and chicks for free) boyz. the maggots are so much smarter than us. hahahahahahaha
They only moved their money out of the USD$ to prevent the dollar from rising too fast.
LOLOLOLOLOL.............................................
young fools.
europe to the US: thanks for printing us 3 trillion dollars since 2009. our banks have enjoyed taking your money. we'll now take it to the east. now go fuck yourselves and the bubbles your bankers blow.
As we've all witnessed, the government is getting more desperate by the day. People don't willfully give up power without a fight. The ruthless maniacs running the asylum are capable of ANYTHING. This should scare the living shit out of everyone...
TopTheNews.com
You assume those people are good Americans, young fool.
Oligarchs have no nationality
They prey on economies to skim off as much as they can.
They fear that the Chinese and Russians do not trust them and won't work with them. They are correct.
You are most correct. They will kill Americans and blame someone else for it. Count on it. What ever suits their agenda
History also shows that when the masses rise ( and they will ) the ruthless maniacs running the asylum better run and hide.
IE: Just as the Nazis did in the 60's....
The black/yellow swan is when all but one G20 countries join AIIB.
Then you can queue the Swan song for a certain Reserve Currency.
I kno right?
My major conundrum in life is that by closing all bank accounts, and cashing in all inWestments... I'm stuck holding a skid full of this fucking confetti that has Illuminati graffitti printed all over it...
These direct pleas by US are false surface mumbo jumbo.
"When Money Dies is the classic history of what happens when a nation's currency depreciates beyond recovery;In 1923, with its currency effectively worthless...."
http://www.amazon.com/When-Money-Dies-Devaluation-Hyperinflation/dp/1586...
why then the big spike up in USD?
ECB's overt easing and printing?
Hey somebody is awake out there! Good question. For part of the answer - there is the small matter of a $9T (that is TRILLION) bar tab to pay before this party can move to some other Fiatskiflat.
Ambrose Evans-Pritchard writing in the telegraph talks about the endless hangover from too much booze in the Fed punchbowl:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/114654...
and back in Dec 2014 it was "Only" 5.7T:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/113004...
so all the Dollar Doomers have to wait for the Debtors to finish pushing that "rolling loan gathers no loss" (Thanks KyleB!) rock uphill before the real downhill journey begins...
So the further the rock gets pushed up hill, the more carnage it will create with gravity takes it toll? How many more times can the boulder be rolled up the hill? I am betting this is the last roll...
...and there is the problem, if the dollar collapses (as many here wish) so does the rest of the world - including China.
It is more likely the rest of the world collapses, including China and most certainly Russia, before the US dollar and it will be ugly for all including the US - watch what you wish for ZH'ers.
Zombie apocalypse without the fun.
Sounds like you have never had to work a day in your life?
Those of us that have skills, need not worry, only the top and bottom.
Gold Bitchez....I pick up pennies
You don't know me.
More skills then you for certain - the pennies I pick up pierce steel.
It makes good sense for all of these countries to join the China banking system. Instead of war mongering and threatening your imaginary enemy (because the D.C. clowns say so) why not get closer to them, so that all participants become more reliant on each other.
Those conditions encourage more transparency, and mutual cooperation between all the involved parties. It also keeps the western SWIFT a-holes in check by having an alternative.
They have pretty good US tech designed nukes too from what I hear. Hey where's Putin?
Has Obama threatened to drone any country that joins the Chinese infrastructure investment bank?
The decision by major European powers to join the $50 billion China-backed Asian Infrastructure Investment Bank (AIIB) is a significant blow to the United States. It is a clear sign that, amidst deepening global stagnation, the economic mechanisms through which the US has exerted its hegemony are breaking down as other imperialist powers assert their independent interests.
The initial blow came last Thursday when the British government of Prime Minister David Cameron announced that it would become a founding member of the bank. An unnamed White House official responded by denouncing “a trend towards constant accommodation” with China that was “not the best way to engage a rising power.”
The US opposition to Britain’s action was underscored by a comment in theFinancial Times which noted that in the lexicon of diplomatic rebukes “accommodation” is only one step below “appeasement.”
US opposition proved to be no deterrent, however, as Germany, France and Italy followed the British decision with announcements that they were also seeking to become founding members of the bank.
http://www.wsws.org/en/articles/2015/03/19/pers-m19.html
Obama decided to burn Isreal. The Zionists are now educating him on what happens when you do this.
There are ZERO nationalists in the federal government with any real power.
Why do you think they are going to save America?
What the hell is America?
Can you define it?
I'd get 10 different answers from 10 people.
lololol.......
It ain't a shit hole like China
Its at least 5 different nations, jumbled together in a union. Pacific Northwest, California, Texas, Midwest, the South, and then you've got the Northeast Megalopolis.
Pretty accurate all sliced and diced the way the leftist like it.
...divided we fall.
"What the hell is America?
Can you define it?"
That's easy. It's a large area of North America that was invaded about 400 years ago by a bunch of European grifters who believed that making a fast buck was the only thing that mattered, even if they had to get it through genocide, theft, and slavery. To their credit, they never lost sight of their core beliefs and to this day they have not changed.
Read your history - just like the rest of the world.
Jinx, buy me a Coke
That defines any civilization, minus the geo location.
"Bottom line: this isn’t theory or conjecture anymore. Every shred of objective evidence suggests that the dollar’s dominance is coming to an end."
Keep Dreaming
King Dollar going nowhere (anytime soon)
lol. rule brittania, brittania rule the waves.....in the bathtub. the same was said of the british sterling as late as 1970.
Looks like someone told Nicaragua "You can be the new Panama! Fuck the US and their canal, we will build a new canal"
What part of all fiat will die don't people understand?
if fiat dies, we're talking mad max ... wouldn't rule it out ... till then
That doesn't imply that they all die simultaneously or violently.
A couple years ago people in an area nearby started using silver dollars as currency. Voluntarily, of course.
I see people bartering already or trading in PMs. Please, life will go on. It always does.
My tribe is in order and war is simply negotiation by "other" means...
same as it ever was...
I wish more people understood that fiat does not dictate who lives and who dies, just who lives and who dies well. Once it is gone the meme will stay the same, only gold will replace the dollar as a means to an end.
Correct. TRADE and TRUST matter, outside of that you are dealing with just a lot of noise.
Ownership and a dependable tribe are very important, especially in a global marketplace. FYI- the names of the real owners are never mentioned...
again, same as it ever was...
Trust. Thats why the government will go toast with the currency. Unfunded liabilities, bitchez! Once people FINALLY realize they were lied to... Thats when shit unravels in a hurry.
At this moment in time, its just easier on one's state of mind TO BELIEVE THE GOVERNMENT'S PROMISES will be fulfilled.
Fiat won't die, just devaluate relatively to gold and bitcoin!
The US haters want the collapse of America so bad they are rooting for communists