Reader Comments On The Greek Betrayal & Pan-European Solidarity Part 2
David Aylward (@Aylward5) Crypto currencies could actually be supportive of Greece and the Euro. If I interpret Pettis correctly all good assets are negatively impacted by debt restructuring causing the value of them to fall which could lead to a downward spiral.
No better asset to a nation than its people and by facilitating mutually beneficial interactions, local currencies could help alleviate the stress put upon them. This could all start organically as in Ithaca, NY
Max Keiser is involved with Startcoin, a digital currency for crowd funding. This way small businesses can find alternative forms of funding and be future job creators, The IRS here in the US recently decided to allow bitcoin to be freely traded and just tax any appreciation when converted into US dollars. This is a way a nation can benefit by allowing alternative currencies.
bluelapis5 I am not convinced yet Varoufakis has sold out; he is smart enough to not reveal his game plan to anybody he cannot trust; I listened to some of his lectures and got the impression that he is driven to help his people; in “Confessions of an Erratic Marxist” he proposes a middle way, avoiding the trappings of either the political left or the right and that for me is one of the qualities I am looking for in a trusted source. Time will tell…
JC Collins We are witnessing the ideological blending of communism and capitalism. Thus, the Erratic Marxist angle. Time has already told the tale. The only purpose to mislead the masses is for the purpose of conditioning the masses. The shift towards the multilateral continues uninterrupted by Greece, Russia, or China. They are in fact constructing the framework, not opposing it.
bluelapis5 he may just have bought some time to lay the ground for some of their objectives
~GetReal JC, Are you aware of/informed of a special monetary “rider” that will be in place by March 1, 2015? ~GetReal
JC Collins I am not, but would be interested in what you have to share with the group. The March 1st deadline/time frame has been the quiet focus for awhile now.
~GetReal I have been told to look for the monetary reform or something significant to the monetary reform to be tucked inside a rider (I assume a congressional document) .
Was hoping you might be aware of this fact and could validate the information. ~Get Real
PS, Unless you believe it worthy of posting, until it is proven to be true, feel free to not…
daniel grig (@gelingrig) JC thanks for the reply. The entrance of the yuan in the basket of SDRS, will be at beginning of the year 2016? It was expected that the yuan enters the basket, this years before the summer.
Another change of “design” within the SDR issue you’ve written in a previous article is that we will see a SUPRA-DEG.
I have explained the process of the reestrcturacion of the debt in a simple way, some comments in Spanish.
We have a “garbage bag” full of inflation-petrodollar. This garbage bag pulls no to the dump, but it brings another garbage bag much more big about which writes DEG.
The small bag of garbage-inflation-petrodollar, gets inside the bag more large garbage-DEG.
The process is called debt restructuring. You can call the RESET, or the opening of the multipolar and multilateral system.
It is a simple way to make people understand the transition process, in the blog of Benjamin Fulford.
Greece is an example so eloquently as you present it in the article “Negotiating Stance with the Troika: Reconstruction of the Banking Sector and Debt Relief”
Spain is in the same line as Greece with his new party “We can”, the Spanish version of “Syriza”.
This party has been propelled by the global system, which has reached the second position in voting intention in Spain in just about 8 months, and is likely to win the elections.
We will see… but the people from the alternative world is trapped within the dialectic hegellana, excited with the BRICS-solution.
There appears to be an epidemic of blindness, cognitive, something very sad…
A week ago I did an analysis of Benjamin reports, for the last 6 months, to remove raised their mistakes and their inconsistencies, and no one I replied, no one said anything, nor the administering and yet people dreaming of Russia and Putin, with BRICS and China…
The disorganized masses of the alternative world of information, are very well controlled.
daniel grig (@gelingrig) I am sure that this program, this policy of solidarity by the TROYCA, it will sell to the Greeks as effect of the Syriza political change.
Then globally this policy of solidarity it will sell to people, as a result of the humanitarian programmes of the “new”multilateral system, sponsored by BRICS – guys good
Maxentropyy I have not found the original article yet re: Bitcoin and Varofakis.
This article references statements made and at the bottom there are two (2) additional references.
URL = http://cointelegraph.com/en/news/113520/greeces-varoufakis-bitcoin-can-be-used-in-eurozone-as-weapon-against-deflation
I have found that of all the emerging crypto news websites, Coin Telegraph to the most informative.
Matt McBride (@MattMhmmcbride) Further reasoning for the yuan to be depegged before inclusion in the SDR: The below paper from Cepii explains the best result would be the inclusion of a yuan depegged from the USD.
A pegged yuan would act like an increase of USD weighting in the basket, causing volatility to the Eur/Yen/GBP basket allocation and little appeal for nations to transition to the SDR and SDR bonds.
By depegging from the USD, the undervalued (some may disagree on this) yuan can float and appreciate to a realistic value.
An appreciating yuan would strengthen the SDR vs the USD and provide further diversification to the basket.
[Not discussed in the paper] my further deduction is that although adding gold to the basket could limit the future creation of SDR, an appreciating value of gold could also strengthen the value of the SDR, and provide a “historic” confidence method. http://www.cepii.fr/PDF_PUB/wp/2011/wp2011-19.pdf
Matt McBride (@MattMhmmcbride) Below are some key points from some articles found whilst searching the net.
1. A majority of the U.S. Stock market is owned by retail investors directly or via Mutual or pension funds.
2. Retail investors are currently utilising large amounts of margin debt to invest in stocks.
3. Two thirds (approx $13.4 T) of US debt is held by the public (not intra government).
Eg China holds $1.3T and the FED holds $2.4T
4. Most European bank bonds are held by other European banks
Will the crisis be limited to banks (and their bonds) and the stock market? This will allow for losses by the public, and the ESM/FSB to take control of the banking system.
Will this drive capital from these markets to the government bonds of the SDR basket countries/zone (due to liquidity) and prevent losses to the FED, China and the IMF? Will SDR Substitution be less risky for the IMF?
irrelevant111 My Dear Bunky, So many kudos on your writings.
I think they show weakness and a perfect example of how the flock may follow…
You are the best brother. Thought of a “Simple Twist of Fate”, Bob Dylan…
P.S. Enjoy the ride as we live n learn…:) Always remember a song from half mountain.
Matt McBride (@MattMhmmcbride) Hi JC What I am struggling to fine tune (which I was hoping you may be able to shed some light on) is that in the events required to usher in the new system, there will be winners and losers. The losers always tend to be the retail sheep investor via mutual and pension funds.
The US equities market seems to be manipulated up (not allowed to drop more than 5%-10%) since 2012.
As seen in this article, the majority of shares are being held by the retail investor either directly, or via mutual and pension funds.
Smart insto and retail money I imagine is out and the “dumb” money is going all in (see margin lending is at highs again). The resulting vertical rise the stock markets would more than likely just be the result of lots of cheap money, and cocky retail investors who believe that the central banks have their backs.
With regards to sovereign bonds related to the QE programs of the FED, BOJ, ECB and BOE, a large majority of such bonds are held by these central banks, key insider banks, or even government departments.
If yields significantly rise on these sovereign bonds in a crisis manufactured in Europe (and that spreads around the world), these central banks or key stakeholders in the new system being the FED, ECB, China, Bundesbank, BOJ, BOE, JPM, GS, will suffer tremendous capital losses.
The IMF would also incur tremendous risk and losses under an SDR bond substitution model with Chinas USTs (or any bond exchange that occurred under a SDR bond creation to liquidate the system) if such a yield spike occurred over the next 6-18 months after the IMF took them on their books.
This cost would be on top of the exchange rate and yield differentials of USD vs SDR and UST vs SDR bonds in the substitution account.
At the moment the FED for instance has made great capital growth on the treasuries purchased in the QE programs with the 10 yields dropping to under 2%.
Q1: Is there a way that the “crisis” used to transition to the multilateral SDR system will effect the retail investors, and leave the central bank bond assets relatively unscathed?
I can see the stock market having a 20-30% correction (or 40 – 60% correction in useless tech stocks) at the expense of the retail investor (to be picked up after the correction by insiders and smart money on the cheap) & I imagine a bank crisis could be limited to the banks themselves (see that european banks currently hold large exposure to other European bank bonds), with the ESB and FSB taking control of the banks (at the expense of the shareholders/creditors), recapitalising them, and selling them back into the market at a profit. http://ftalphaville.ft.com/2014/09/30/1983062/who-likes-european-bonds/
Q2: Do you see the SDR basket nation bonds/currency (and Gold) being pushed as the only safe havens in the upcoming crisis, as despite their large debt/GDP, the SDR bonds issued for liquidity will keep ie teh UST, JGB respective yields low, thus having retail, bank (and non SDR basket nation) capital pour into such bonds and currency from the stock, property and bond markets of Canada, Australia, Korea et al emerging markets (which will take the brunt of the losses)? Thanks again for your help. Matt
irrelevant111 JC n My Fellow Brothers, On this site for quite sometime. Regarded as a non conformist. I am tolerated…lol Enjoy… The internet has provided much beauty many would never see in a lifetime…
Food for thought as we all attempt to understand today.
JC Collins You’re also appreciated my friend.
Daneackerman Wow a change of pace for you Ax. Its beautiful. Thanks for the many laughs your insights have brought to me.
hugovictor54 Dear J.C. In fact, it was only this week that Bloomberg reported that “China Offers Russia Help With Currency Swap Suggestion.”
But in order to fully backstop Russia away from a SWIFT-world in which the dollar reigns supreme, one extra step was necessary: the launching of direct FX trade involving the Russian and Chinese currencies, either spot or forward – a move away from purely theoretical bilateral FX trade agreements –
which would not only enable and make direct currency trading more efficient by sidestepping the dollar entirely, but also allow Russian companies to budget in Chinese Yuan terms. It is no surprise then that this is precisely the missing step that was announced overnight, and will be implemented starting Monday.
Fasten your seatbelts; 2015 will be a whirlwind pitting China, Russia and Iran against what I have described as the Empire of Chaos.
Read more at http://investmentwatchblog.com/marc-faber-world-economy-grinding-to-a-halt-dont-trade-with-leverage/#QrVjifWLEmMwXjk4.99
Could this be a part of the First of March events? Jack
Benny Benfari interesting article: There is a dangerous leadership vacuum at the highest levels of power inside the G7 nations as financial collapse looms. There will be economic collapse, mass starvation, anarchy and civil war unless the system is totally rebooted.
On the flip side, if the system is rebooted, living standards in the world’s countries can be doubled within a year. The key is to free the nations of the world from Babylonian debt slavery. For those who do not understand this reality, check out this link:
and then this one to see the extent of world debt slavery:
By staging a jubilee, or one-off cancellation of all world debt, public and private, human living standards can be effectively doubled within a year. The key to accomplishing this is to force the surrender of the Zionazi Khazarian (not Khazak) tribal gang that controls this system.
There is a show-down now taking place inside the United States that holds the key to freedom for humanity at large. The appearance of mass murdering Zionazi Satan worshipping (not Jewish) gang boss Benyamin Netanyahu in Washington this week to push for world war 3 is a golden opportunity to end this once and for all. He is a rabid dog who must be quarantined or put down.
As reported in last week’s report, the US military has finally shown the patriotism and bravery needed to take down the Zionazi mafia controlled CIA faction responsible for most of the world’s wars.
Last week the Russian and Chinese government news sites both displayed evidence the Zionazi Department of Homeland Security and CIA had been put under pentagon control. To quote from Russia Today:
“US Director of National Intelligence James Clapper and director of the Defense Intelligence Agency, Lt. General Vincent Stewart (USMC), reported on the intelligence community’s assessment of current and potential threats to American security and interests.”
Raoul Asare-Bediako Further to the “Greek Tragedy” thought, this may belong more in the esoteric section but hear me out.
If the powers that be, are creating the problem so that they can provide the solution that the World runs to in their panic (Hegelian Dialectic)….look at the pagan symbolism:
“Greek tragedy” is an extension of the ancient rites done in honour of Dionysus.(Wikipedia)
Apollo (Apollion = Satan in the Bible) represents harmony, progress, clarity and logic…whereas Dionysus represents disorder, intoxication, emotion and ecstasy. i.e. Dionysus creates the Chaos. Apollo “saves the day”.Remember that Lucifer was the brightest angel before the Fall…the world is yet to be deceived.
irrelevant111 Gotta admit, nothing changes, but the times we live in…
Comments may be made at the end of Part 3 Thank You