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John Kerry Warns "Dollar Will Cease To Be Reserve Currency Of The World" If Iran Deal Rejected
Scaremongery... or maybe the whole point, as Obama's former chief economist noted, is to lose reserve status. Take That China!!
As Jared Bernstein previously explained...
There are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve?
But new research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s reserve-currency status.
The reasons are best articulated by Kenneth Austin, a Treasury Department economist, in the latest issue of The Journal of Post Keynesian Economics (needless to say, it’s his opinion, not necessarily the department’s). On the assumption that you don’t have the journal on your coffee table, allow me to summarize.
It is widely recognized that various countries, including China, Singapore and South Korea, suppress the value of their currency relative to the dollar to boost their exports to the United States and reduce its exports to them. They buy lots of dollars, which increases the dollar’s value relative to their own currencies, thus making their exports to us cheaper and our exports to them more expensive.
In 2013, America’s trade deficit was about $475 billion. Its deficit with China alone was $318 billion.
Though Mr. Austin doesn’t say it explicitly, his work shows that, far from being a victim of managed trade, the United States is a willing participant through its efforts to keep the dollar as the world’s most prominent reserve currency.
When a country wants to boost its exports by making them cheaper using the aforementioned process, its central bank accumulates currency from countries that issue reserves. To support this process, these countries suppress their consumption and boost their national savings. Since global accounts must balance, when “currency accumulators” save more and consume less than they produce, other countries — “currency issuers,” like the United States — must save less and consume more than they produce (i.e., run trade deficits).
This means that Americans alone do not determine their rates of savings and consumption. Think of an open, global economy as having one huge, aggregated amount of income that must all be consumed, saved or invested. That means individual countries must adjust to one another. If trade-surplus countries suppress their own consumption and use their excess savings to accumulate dollars, trade-deficit countries must absorb those excess savings to finance their excess consumption or investment.
Note that as long as the dollar is the reserve currency, America’s trade deficit can worsen even when we’re not directly in on the trade. Suppose South Korea runs a surplus with Brazil. By storing its surplus export revenues in Treasury bonds, South Korea nudges up the relative value of the dollar against our competitors’ currencies, and our trade deficit increases, even though the original transaction had nothing to do with the United States.
This isn’t just a matter of one academic writing one article. Mr. Austin’s analysis builds off work by the economist Michael Pettis and, notably, by the former Federal Reserve chairman Ben S. Bernanke.
A result of this dance, as seen throughout the tepid recovery from the Great Recession, is insufficient domestic demand in America’s own labor market. Mr. Austin argues convincingly that the correct metric for estimating the cost in jobs is the dollar value of reserve sales to foreign buyers. By his estimation, that amounted to six million jobs in 2008, and these would tend to be the sort of high-wage manufacturing jobs that are most vulnerable to changes in exports.
Dethroning “king dollar” would be easier than people think. America could, for example, enforce rules to prevent other countries from accumulating too much of our currency. In fact, others do just that precisely to avoid exporting jobs. The most recent example is Japan’s intervention to hold down the value of the yen when central banks in Asia and Latin America started buying Japanese debt.
Of course, if fewer people demanded dollars, interest rates - i.e., what America would pay people to hold its debt - might rise, especially if stronger domestic manufacturers demanded more investment. But there’s no clear empirical, negative relationship between interest rates and trade deficits, and in the long run, as Mr. Pettis observes, “Countries with balanced trade or trade surpluses tend to enjoy lower interest rates on average than countries with large current account deficits, which are handicapped by slower growth and higher debt.”
Others worry that higher import prices would increase inflation. But consider the results when we “pay” to keep price growth so low through artificially cheap exports and large trade deficits: weakened manufacturing, wage stagnation (even with low inflation) and deficits and bubbles to offset the imbalanced trade.
But while more balanced trade might raise prices, there’s no reason it should persistently increase the inflation rate. We might settle into a norm of 2 to 3 percent inflation, versus the current 1 to 2 percent. But that’s a price worth paying for more and higher-quality jobs, more stable recoveries and a revitalized manufacturing sector. The privilege of having the world’s reserve currency is one America can no longer afford.
* * *
In the global race to debase, Reserve currency status is a curse!
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Again recall this quote “We’re just going to kill the dollar.”:
http://www.silverdoctors.com/intelligence-insider-obama-administration-a...
Last week it was "deal or war."
This week is "deal or dollar."
Nice to see where the priorities are.
So John, have you paid them taxes on your yacht yet? No? I didn't think so. Next topic please.
I was hoping those rumours about him taking a bullet in France or Switzerland or wherever were true, but apparently not. Herman Munster was built to last.
It doesn't matter if deal is off or on. dollar is fucked eventually anyway.
Bingo!
America, during this big Iran story, has made a move in Syria. The US now claims an absolute right to launch air attacks, from their new base in Turkey, against any force attacking the new US backed anti Assad rebel army. I have read reports that this new moderate rebel army may consist of no more than 18-40 men! The others that the US recently trained, all went over to ISIS!
BUT, while all eyes were on Iran deal. The US just said they will bomb the Syrian Arab Army, IF they engage the US rebels forces. This means that Obama has found a back door to launch an air war against Syria.
Here is how it works. This US force launches an attack on a Syrian Army checkpoint. The Army shoots back. The US sends in aircraf to eliminate the Syrian Army checkpoint. From there, you have open US versus Syria war.
Obama has such a taste for war that nothing can stop this fucker!
Bingo. I thought the same thing last week.
Syria needs more Russians on the ground advising and training at checkpoints. Invite a few UN monitors (Chinese nationals) while you are at it.
Perhaps the purpose is to force the Russians and the Chinese into Syria/Middle East in general. That will excite the Hal Lindsey crowd and they will be in lockstep behind Isreal expecting the end to be near. Of course they will be ultimately dissapointed... But thoughts of end times and paradise will keep many people in line...
The goal has always been Iran, Syria is just a stepping stone.
Iran should back out of the deal and join BRICS and arm themselves to the teeeth because USA/Israel WILL attack them eventually.
Getting Iran to ruin a 'superb deal' offered to them was always part of the plan. It is right there in the Brooking's think tank papers for anyone to read. As soon as Iran backs out of the superb deal (it is so good America doesn't even want to give it to them) then American support for war on Iran will intensify false flag or not and we get the war we always wanted anyway.
I guess black lives matter and the rest, not so much.
MiniPeace and MiniFag work together extraordinarily well in the creation of MiniCan (Ministry of Cannibalism/Ministry of Can Kicking).
Making it legal for fags to get married and banning the rebel battle flag is doing the will of the people, however not engaging in war against the last bastion of secularism in the M.E. (after US said "NO" in 2013) is none of our business for worthless President Sock Puppet asshole.
And this outcome is different from what will happen, how exactly?
We PRODUCE nothing but terrorism, free paydays for the elite & banksters, entertainment and pills that make us sicker.
And much of that is actually manufacured in Asia.
You forgot propoganda via MSM and Hollywood brought to you by Zion Inc.
"The sky will fall", "The rivers will change color" (the EPA is taking care of that one).
A dollar/US Debt crisis would either turn the USA into Argentina, as the elites and free-shit army tried to steal everything not bolted down in the collapse, OR it would help restore Constitutional, limited Government in the USA. Either is possible.
Just imagine a US government that couldn't simply issue debt and print money to fund every social engineering scheme??
Always great to see optimists among us.
"Just imagine a US government that couldn't simply issue debt and print money to fund every social engineering scheme??"
The last guy that tried that had his head used to paint Elm Street.
by social engineering I think you mean protecting the elite's assets throughout the globe?
What is not discussed is Iran right to nix the deal themselves.
I think they should because the USA/Israel is NEVER to be trusted EVER.
They NEVER keep any deals or treatiies.
The is a real threat associated with being an ally of the US. I think even Israel may be figuring this out about now. For our government, anyone who would express interest in being our friend is obviously weak and stupid and NEEDS to be dealt with.
I don't ever remember a politician mentioning the dollar reserve status being threatened in public with the exception of Ron Paul and the like. It's basically an admission of creating a complete disaster that begs the question, how did we get here?
Secretary of State Herman Munster!
Can anyone really be THAT stupid? His hubris is blinding! Who else would be so stupid as to believe they can negotiate in good faith with people who vow every day to kill you?
And did you know this? That Kerry's daughter is married to the son of one of Iran's chief negotiators?
Iran threatens people that threaten them. and the Useless Snakes has been threatening them for years. Iran hasn't attacked ANYONE in centuries.
The USA IS and has been the aggressor in the Middle East and around the globe.
Death to bullies and warmongers. I agree with Iran.
Just padding your stats.
Don't trust any of them. Have you not learned ANYTHING? Its just as stupid to take sides in this as it is in any political contest. We are left with having to look out for our own interests. The question is the same for each of us, just as it is with my wife, every morning waking and having to decide if I'm worth more dead or alive.
USA's interests is the whole world. (they think)/ They are WRONG
As we see the worlds fortunes decline, we will all revert to base motivation...to eat, in which context progressives will finally get their wish, as there will be no borders. Simply masses of eaters, and their language and culture will no longer be relevant to anyone. The US may have some advantage as we are not so nearly connected with other mass populations in the way Europe is. Large populations of hungry Indians and Chinese could be daunting in deed.
Is it possible that what the western world is already experiencing, with massive immigrations of third world people into our cultures, is just the beginning? While these people offer cheap labor initially, once the limited demand for their services is met, they're are going to be a hungry, angry and indifferent people in our streets demanding. Looking at south America and how badly their mismanaged economies are suffering...and the resultant flood of new immigrants, do we really think it will get better? Even Greece has seen significant new immigration. GREECE! Like there is any honey pot there! Watching this level of immigration while also watching all of our economic metrics in decline and existing liabilities still growing massively, one has to wonder.
I believe that this deal with Iran has more to do with personal agendas...interests, of those directly involved more than any consideration of peace or the future for the world. We are on a sinking ship. Currencies are changing from fiat to real, and people in the know see what is coming and are positioning, seeking assets that can become a life raft, or simply things that can be used to bind large numbers of bodies into a floating lifeboat.
In every event their are winners and losers. Hopefully it won't be the cockroach's turn again.
Iran threatens people that threaten them. and the Useless Snakes has been threatening them for years. Iran hasn't attacked ANYONE in centuries.
The USA IS and has been the aggressor in the Middle East and around the globe.
Death to bullies and warmongers. I agree with Iran.
Did not know that...
https://creepingsharia.wordpress.com/2013/03/30/sec-of-state-john-kerry-...
The criminal USSA would be better off under Sharia.
But I'm afraid it would imprison about 15/16th of your entire population so your GDP calculations might be off for a few quarters.
A lil' scaremongering from the ketchup packet.
It's just been a G.D. piece of paper since Nixon closed the gold window. How does the Iran Deal make or break it? If it wasn't for non-stop violence and military adventures of the corporation it would already be footnote status.
kerry
closes the ketchup window..
1) Makes you wonder if, during negotiations, Iran threatened some impressive action against the dollar--in which case this would be Kerry caving rather than being a hero.
2) You, Mr. Kerry, and countless other government do-gooders have been gutting and destroying our currency for many years. Yet you find it easy to claim you are now a bullwark against its further demise. Amazing.
When has Kerry ever looked like he was sincere, or put together sentences that were understandable before? I have never heard him speak plain english before, if that was what this was? He has always been doublespeak and drool, officially.
Was he off script and telling it like he sees it? Is he out of a job?
Kerry must still have a piece "shrapnel" in his ass (brain).
bath house barry: approve the deal or I shoot this dollar!
I had a conversation (using the term loosely) with a progtile once where they said we can do whatever we want because reserve currency. I reminded him that the dollar wasn't the first reserve currency ever and that Britain and Spain used to be super powers. I don't think he understood, maybe he does now.
Seems like the first time we've heard a major U.S. leader admit to the fragility of the dollar as the reserve currency.
More of a public figure than a leader, but still..
Yeah it's spooky. Either Herman got emotional and let it slip or the time for all hands on deck is not far off. It wouldn't be smart to use as a simple scare tactic to justify the Iran deal.
Go ahead. Buy the dip. I dare you.
Not discussed is the billions in deals Western European companies have already signed with Iran.
Should that bastard Bibi or his puppets in Washington get the deal nixed there will be some pissed off people in Europe.
How does a 71 year old man totally recover from a broken femur in 2 months?
He broke his lemur? Poor little monkey...
Now that just piqued my mind as it did yours Oddjob.
Just how 'Does' a 71 year old man recover from one the worst breaks you can, and one which at his age, could kill him, in two months?
You think we might not be told the whole truth here my friend?
;-)
It's not that big of a deal. it's just getting the right gear.
A biker around here was shot 6 times by some rivals, nearly died, and when he got out of hospital he looked like a little old man and was using a cane.
He went to one of those sports docs/anti aging specialists and within 6 months he looked heavyweight UFC fighter.
It's probably not the healthiest to be injecting that shit long term, but at 71 what does he care?
I'm not sure oddjob but I wouldn't put this past any of the bastards.
http://www.washingtonpost.com/national/health-science/new-studies-show-that-young-blood-reverses-the-effects-of-aging-when-put-into-older-mice/2014/05/04/1346baac-d2eb-11e3-8a78-8fe50322a72c_story.html
Russians did this over a hundred years ago (even humans testing on themselves). Although with fatal results for some since they didn't fully understand blood types.
Some thought it would bring immortality.
Yeah, and why in the hell wasn't he put down?
It would have been the humane thing to do.
History may look back and say the Obama Administration had a showdown with Israel and the Bankers over Iran / Syria, with the Administration's hand being forced by a Senate and Congress that is bought and paid for by Israel?
Same thing with the "red line" in Syria - Speechwriters put the chemnical weapons "red line" in the speech, then (miraculously) there were chemical weapons used (with videos of the children for good measure), the red line was crossed, all of the hawks are telling Obama that he has to go in, you have ISIS beheading videos calling out Obama by name, yet Obama may have still said "Fuck you"?
This is beyond interesting as we watch U.S. collapse before our very eyes. MIC can't wait for Bush / Clinton as their last hope to save the Empire.
From Kerry's formative years:
If You Don't Buy This Magazine We'll Kill This Dog
https://c2.staticflickr.com/4/3177/3116706556_fae8ffc956_z.jpg?zz=1
Iran is a new potential market. If the deal fails, we won't be able to grow our economy hence, we are no longer a viable nation. The status of the USD was to fail anyhow, this deal failing means it will just happen sooner rather than later since we cannot open new KFC's, MCD's or Walmarts in downtown Tehran or Esfahan. Too bad, was hoping for a position in the mortgage lending division of the new JPM branch in Shiraz too :(
EDIT: There's hope that the Martian economy can open up someday when we lift thier sanctions. It's our only hope now.
From discussions with people I know from Iran, their businesses are pretty closely controlled by "groups" that tend to decide and control who does what where. Friends have told me that they (as Iranians) would be guaranteed specific areas and customer bases with limited competition. Given the sway that religion has in Iran, I wonder exactly how welcoming they will be to western style consumerism, much less fast food and walmart. I'm sure they will expand their economy and I'm also sure America will receive some benefit from that, but I am imaging that it will be like the jobs being created here now, that taxpayers are paying for dearly. How many jobs will be needed to offset the carnage to the oil industry that cheap Iranian oil will create?
Like it or not, and deserve it or not, these people don't give a rat's ass about our prosperity. They see our economy as immoral as everything else about us. They will enable us only to the extent that they feel they are enabling themselves more. It is the nature of self interest. We should understand this better than most. And their religiosity ensures that they are not going to be quick and easy sellouts to western values. They understand the power of its corruption which is why the fight against it so strongly. Of course they are impervious to their own corruption and violence, as they, like everyone else in the world, feels "justified".
They are doing it for the children.
Why do you have to grow your economy to a viable nation? It's not enough to simply produce to meet the needs of the people and then leave well enough alone?
Good question. The only reason to grow the economy is to continue the dollar ponzi economy.
it will cease to be, anyway..
Haul his ass to the Senate Foreign Relationsions Committee and demand to know why the f*%$ he would negotiate us into a such a corner. Demand his freaking resignation for putting us in this position.
I think it's the FIRST time a high ranking official publicly admits that the USD is "bubbling out there"... obviously USD and USSA at large is in rather dire straits...
It was an admission of complete weakness and loss of influence. Hard to believe that he made that statement in a public forum.
Will this affect my holdings of Zimbabwean dollars?
Hyperinflation: Or dear Penthouse, I never thought it could happen to me.
..
Reminds me of something I did in 2003. We were down in Harare, Zimbabwe, flying Mugabe around. I had 500 Zim dollars. in my wallet (they look so cool and expensive) worth about 25 cents at that time.
Then a month later we flew to Kuala Lumper, Malaysia for a week. Met a hooker in the hotel bar and she came to my room and I have here the Zim dollars. She said, ''how much are they worth''? I said , ''about 100 USD''/ She said okay.
I know, I am a bad guy LOL
Still battling Tourettes I see, or is that Janet Reno Syndrome, the DT's, or too much cumguzzling in A-Dam?
How is your one brain cell doing? Still on life support?
Live 45 minutes from A'dam and haven't been there in 3 years.
I guess you think A'dam is the whole country,
Typical stupid kike.
Jesus, is homeland of the Douche people even as big as Dallas County?
With an economy as large as Highland Park?
Lurch is the biggest fucking buffoon the world has ever seen. The only thing this guy knows how to do is marry money; other than that he is totally useless, but very good for comedic relief.
www.traderzoo.mobi
This is the perfect set up. If the petrodollar can be given a bit more runway with Iran's oil coming on-line under US control they buy time. If not, or if the dollar fails sooner than later they can blame Iran.
Reserve Currency Status...
Ah yes what a wonderful idea it truly is when you have the patent(s) to "things" that other Countries think they must have and are willing to risk subjugating their own currencies and people with the cheapest of labor in order to get those "things"...
Works great for 50 years and then everyone that builds it for you with that cheapest labor gets their own patent(s) until one day you and what is left of your labor force aren't needed anymore!
Then what?...
Umm, that's extrapolating quite a bit.
Foreshadowing?
He put the training wheels back on and now is just brimming with confidence.
John Kerry is a fucking tool period...
If that be da truth, Mr. VietCong Kerry, I vote for reject, Reject, REJECT! Patriotism sometimes moves in mysterious ways.
I hope the deal is rejected. for my own reasons. Israel will be sorry.
Ah ha! Perfect manifestation of the JewHaters of ZioHedge...would rather NOT see the USD dismissed as the world reserve currency than to suck the stick of the Hidden Imam. Shallow is the ZioHedger.
If you don't like Jew haters then fuck off, (unless you are one of those jew masochists)
Don't let him bait you like that he is trolling. Zionist is the preferable term for this reason and it is more accurate.
what we have here is 'Mr.` Ed' choking at the trough, braying, stomping frantically as it's [the kerry-trade packhorse?] led to the abattoir...-- oh the horror:-)
you say Iran, and I say Eurasia?
You speak urdu?
I can't hear you, Obi-kenya-nobi...
Does Kerry look like a complete freak of nature to anyone else?
He looked totally normal to Dr. Frankenstein.
The horse had facework.
"Are you kidding me?" Testy. Too many holes now popping in the dike. Last one out please hit the lights.
Didn't Kyle Bass mention something about this about two years ago?
https://www.youtube.com/watch?v=ILKolTI1s50
Kerry is the horseface - Obama is the horses ass
Hillary is the horse's dick.
There is a bit more going on here. And it takes someone to breach national security (aka someone else personal interest) to tell you what is really going on. What really is at stake ..
http://www.veteranstoday.com/2015/08/10/disclosure-why-sabotaging-the-ir...
Isn't this the same Gordon Duffy KillJews fantasy site running the story that the IDF 'delivered' nuclear ordinance upon Yemen for the Saudi Family? Yes, yes it is.
Nothing but science fiction rumour - no hard evidence.
Might as well be global warming 'science'.
Headhunt: Nothing but science fiction rumour - no hard evidence.
Might as well be global warming 'science'.
Except for the US Navy has funnelled him a shit ton of money and contracts...
How do you know and for what and how much?
Damn, beat me to it.
What a retard.
WOW Kerry, you're an incredible DUMB FUCKER! Iran has nothing to do with our reserve currency. When it fails, and it will you dip-shit, it's because all the other countries are rejecting it. The privately owned Federal Reserve is mass-printing it because of dip-sticks like you in Washington over spending to buy votes and enrich yourselves. Nobody is buying the shit spewing out of your pie-hole anymore. Fuck!!!
Guess you haven't read about the Ayatollahs selling petro for gold these past few years?
Your downvotes show a lack of understanding of how our reserve currency status works on your downvoters' parts. Oil is THE keystone commodity in the global economy, and so long as you need USDs to purchase it, we get to do a lot of things that other countries don't, including using the military to defend the USD. Kill the dollar and shit will hit the fan in the US, big time, because we import about half of our oil, and a lot of that would go away with a dead dollar. Start making oil avaliable in currencies other than USDs, and that is a major step towards killing the dollar. It is always about oil, and thinking that the USD has value by itself without an implicit backing by oil and the US military is putting the Kerry, er, ah, horse before the cart.
Bibi with gun to head ''Don't sign the deal or the KIKE gets it''.
Kerry is not very bright, he let slip the fact, albeit by proxy, that the US has printed so much monopoly money that even the other countries who have benefited from it are starting to get nervous.
That is until reality hits and China wholesale devalued the Yuan, all those countries who have been trading and taking Yuan in payment just got kicked in their economic balls.
Well since the ZOG is the USD by proxy, I guess the ZOG just isn't that much into Israel.
Have you ever heard of a host loving its parasite?
How many government (TaxPayer) retirements are you sporting?
4 because I paid into all their systems.
so once again, kikeboy, its a big FAIL for you.
Oh, "you paid," kinda like an AARP parasite who's invaded the host, eh?
Yeah kikeboy, you pay into a pension plan and then you collect.
Are all kikes stupid like you??
Nevermind, its a rhetorical question
Actually, I've never heard that, ever. In nature, the host may not be able to eject the host, or might, kinda like a Douche TapeWord who invades the host, and the host is not aware, but never that the host loves the parasite.
Kinda early to be drunk, isn't it kikeboy?
Kinda early to be drunk, isn't it kikeboy?
Sounds like the Ayatollahs are have signaled they'll eat ZOG creme (USD transactions) if they can have their nuclear program. Priceless
They have the RIGHT to their nuclear program you fucking idiot kikeroach.
Hey, kikeboy, if you don't like the Ayatollahs, here is your rifle, jackass.
Weak currencies being beneficial to the economy is a bunch of horseshit. A strong currency within an economic system where the government's raison d'etre was other than world hegemony provides a more solid foundation for society as a whole, not just the export sector.
Lurch needs to get back to his harpsichord!
Rule #343: When shit's about to go down, you ALWAYS blame Iran.
#344 when blaming Iran doesn't work, blame Russia
Kerry is fine with it as long as he can avoid paying Massachusetts' taxes on his yacht that he bought from a company and New Zealand and registered in Rhode Island even though he only uses it on Martha's Vineyard.
Sounds like a threat from a traitor.
More on the "IRAN DEAL here:
http://www.veteranstoday.com/2015/08/10/disclosure-why-sabotaging-the-ir...
Kesche VS big oil.
This shit gets better by the day lmfao
A. Kerry is useless and has no clue. It is a VERY clumsy and irrational attempt at manipulating the vote.
B. In order to have the dollar as the reserve currency the US has had to flood the world with enough dollars so that dollars can be used by everyone.
C. Kerry is useless and has no clue.
D. Since when does Iran get to dictate what the rest of the world does?
E. Kerry is useless and has no clue.
F. To achieve global governance, the banks MUST destroy the
dollar as the reserve currency and replace it with a global currency issued by the UN/IMF/BIS/Satan-Net. There can be no country dominance.
G. Kerry is useless and has no clue.
H. The US would not have to be the importer of last resort (so that it can distribute dollars) if the dollar was not the reserve currency.
I. Kerry is useless and has no clue.
Three words sum it up...
A MARXIST BUFOON. That butthead will be on the first private jet out of here with the SHTF.
Reporting for duty to instil confidence
"......versus the current 1 to 2 percent."
Your inflation numbers are AFU!!!
I agree with Grandad Grumps.
These guys are such fucking idiots. I hope the Donald hangs them all in the public square.
You guys are very funny. The only countries that can say no to USA are Russia and China. If Iran deal not made since when Germany, Britain and France say NO to USA. What is going on with Russia hurting those countries more than Iran sanctions.Iran unlike the popular idea is secret ally of Israel and USA against the SUNNI muslim countries west wants a stronger Iran. Thats what this deal is all about.
Germany, France, and Italy have already made big business deals with Iran. USA not so much because USA manufactures NOTHING much anymore.
So if deal is rejected its German, French and Italian companies that stand to lose a lot. (BILLIONS).
It seems that they get it all to well.
The Iran deal is not going to pass Congress. It will in fact be shut down with a veto proof majority.
Now the SOS is attempting to use this failure to blame the inevitable economic collapse that Ray Charles could see coming
let me recap my predictions for end of 4 QTR 2015 beginning 1QTR 2016.
1. Iran deal fails
2. Global economy fails. (1 and 2 are mutually exclusive of one another)
3. USD loses world reserve currency status.
4. Public goes nuts when worthless dollars and EBT cards can't purchase anything or much of anything
5. Draconian and violent suppression of any dissent or perceived dissent.
6. & all those new camps & handed down military equipment to the plice finally get some use
Agreed
HAS ANYBODY considered the opposite point of view ...
Why would John Kerry link the status of the US Dollar to a nuclear arms treaty? There appears to be no logical connection. UNLESS ... a backroom deal now exists with the Iranians about how Iranian oil is sold (and not sold) on the world markets. Pure speculation. But you have to ask - why would John Kerry say something like that?
Maybe he was told to say that? They always lie, why would you look for a reason right here?
Lurch knows that the Dollar was why we invaded Iraq...killed Gaddafi...etc.
Kerry is a reptilian. What it says means nothing. "F" the dollar. Let it die.
Losing the Dollar's Reserve status has nothing to do with IRAN. It's a process that is already under way.
Kerry might as well get everyone used to it and in his own way. i.e. Blame it on Iran. It couldn't possibly be our fault.
The diversification of foreign reserves, or the reduction of USD in foreign reserve accounts, is an important step in the multilateral transition which is taking place. The balance of payments deficits can only be corrected by unwinding dollar accumulation and replacing those reserves with an alternative supra-sovereign reserve asset, such as the SDR.
Read more here: http://philosophyofmetrics.com/analysis-of-recent-imf-report-on-sdr-adju...
The dollar, like all ponzi schemes, will fail. It is just a question of when, and Iran selling oil for something other than USDs would just bring it about that much faster. It's kind of like the USSR. It was destined to fail, but we hastened its demise by getting to spend more on their military than they otherwise would have.
As I told everyone right from the beginning...This was NOT about nuclear weapons. This was all about oil and the use of the US dollar in the trade for that oil. Now I can pat myself on the back.
Which is why I want the deal to FAIL. So the bastard Bibi can gloat (for a while ) before he and Israel croak.
When the British mismanaged the pound beyond its usefulness to traders, the dollar took its place.
Now the dollar has been mismanaged by the Fed and US Treasury beyond usefulness to traders and traders are looking for an alternative again.
Proper management of an MOE guarantees zero inflation all the time everywhere. It exhibits perfect balance between supply and demand for the MOE. The MOE is created by traders making delivery promises and getting them certified ... the certificates then trading in simple barter transactions as the most valued object in simple barter trades ... they never lose there value and are accepted everywhere. These certificates allow simple barter trades to proceed over time and space.
When the trader delivers, the certificates are returned and destroyed. If the trader defaults, a equal amount of interest is collected by the relation INFLATION = DEFAULT - INTEREST = zero.
Knowing this, this article reads like something from the 16th century describing epicycles of a geocentric cosmos .
It is long on complexity and double-talk. It is short on reality and usefulness. In short, it is pure subterfuge.
If the deal is rejected than USA will be on Europe's shit list and I predict will go ahead with business with Iran anyway.
Then USA will threaten Europe and Europe will finally grow some nuts and tell them to fuck off.
Kerry and all the legacy politicians got us in this mess.
Voter Trump.
Lurch might want to check with Geitner. He's got the time table for all this.
I think he did, and Geithner told him to blame Iran, as his Tribe blames Iran for everything else the happens to the U.S.
Great. Bring it on, Lurch.
US hegemony relies on two pillars- economic supremacy (dollar hegemony) and possessing the most powerful (and expensive) military in the world. The dollars status as world’s reserve currency allows the US to produce dollars at will with no backing (ie, a fiat currency) and run astronomical budget deficits every year, with the interest for this debt being paid by printing more money. Maintaining the dollar’s international status is key to US power and it was for this reason the US opposed the Asian Infrastructure Investment Bank. Link: www.npr.org/2015/04/16/400178364/finance-officials-to-discuss-asian-development-bank-at-spring-meetings. For a brief and informative discussion on the dollar see: Dollar Hegemony by Henry C K Liu; Link: henryckliu.com/page2.html
USA cannot compete anymore in the world, hence, like a cornered rat it threatens to strike.