THOUGHTS ON “FEAR NOT THE DEATH OF THE DOLLAR” Part 3
Cooper (@coopersmith648) APRIL 24, 2015 AT 10:40 PM “Let me reiterate that we remain strongly committed to the IMF as a quota-based institution. We are committed to securing legislation to implement the 2010 quota and governance reforms. …
We continue to believe that Congress will soon pass legislation to implement the 2010 reforms, which are critical to US economic and national security and global economic stability.”
– Jack Lew, U.S. Secretary of the Treasury
Just saying he’s on the record is all – yes, for many years already. Also, with that being said, exactly to what extent does the U.S, Secretary of the Treasury [short a bullet] need congressional approval to sign off on IMF Reforms?
“The US treasury secretary can vote in favor of an overall quota reform package, which could be implemented even if the US Congress fails to approve US participation.”
PDF link – [What next for the IMF?] http://www.iie.com/publications/pb/pb15-1.pdf
“The US Treasury Secretary can vote for an SDR allocation of up to $250 billion (€199 billion, £178 billion)—or larger, if he consults with key members of Congress 90 days before he casts his vote.”
PDF link – [How the Fund Can Help Save the World Economy?]
The fact that the “republicans” are holding the world to ransom on this issue is hilarious! Really? political posturing while the world burns? hrmpf. Hegelian dialectic indeed.
Anyone reading this site knows what the problem is. We are certainly diversified in our reactions! Regardless, the solution is soooo obvious it’s already left a bad taste in my mouth. [Hint – more of the same]. Who’s ready at the starting line to capitalize on the SDR implementation?
I am truly grateful for this site. It is the exception – yes, I do wish sometimes I was not so foolish, even aggressive with comments I have left in the past. Thank you to JC and EVERYONE that has contributed in this space.
This website offers more than an opportunity to get your financial house in order, it offers inspiration that stirs internal aspiration for promising external positive manifestation.
It’s THIS site that convinces me I should shake my tree of belief vigorously – daily – and see if it still holds root and is well watered. Thank you.
JC Collins APRIL 25, 2015 AT 1:02 AM I’m glad you’re still here friend. There’s a lot of road ahead of us all yet.
Cooper (@coopersmith648) APRIL 25, 2015 AT 1:33 AM “I’m glad you’re still here friend.”
Mr JC thank you. Only you and I know of the comments I’ve left – of which you have been kind enough to of not posted – I would truly of been embarrassed beyond what I’ve already consciously posted RE:self-inflicted… [should anyone research past posts].
For those that read this AND for those that wonder if they can be different – YES – I’ve been a bad drunk recently. Financially difficult times. I am single so I’ve only inflicted painful sorrow and embarrassment upon myself – even AT JC/Admin of this site.
Thank God you ALL haven’t been able to read the verbal tirade I’ve had occasion to share with this blog. Makes me wonder what other comments JC/Admin has been kind enough to filter…
This site is an enlightening/joyful composite :) and for reference, more recently, those that have encouraged me.. even made me laugh are – “long-timers”:
Matt McBride [Australian pride]
thanks to everyone here at PoM! may you ALL persist :)
JC Collins APRIL 25, 2015 AT 3:45 AM You’re welcome Cooper. And thank you for your openness and honesty. The strength it takes to bare yourself is something we can all learn from.
Dottie Derewicz APRIL 24, 2015 AT 5:29 PM Thank you JC for the article posted. I was waiting for a positive word from you. I do go back and forth on how I react to the news each day of power structures controlling the world, but why, it has always been that way.
We have been told here in America, it is, we the people, but in all reality..when has that really been the case?
Roger Parness APRIL 24, 2015 AT 7:15 PM I think it is We the People for brief periods and for some individuals. Perhaps between central banks and when there was still wilderness. Perhaps for the Indian Nations and the mountain men.
The Founding Fathers wrote some wonderful documents but then the corruption ensued. I actually think the 1960’s had some moments and places of freedom and liberty. Then the corruption ensued.
The fact that our ideals are rapidly corrupted does not change the fact that the individual can, as has always been true, be free and experience liberty. We are the We of We the People.
JC Collins APRIL 24, 2015 AT 9:44 PM Roger, you and your comment made me think of this song:
Don Edwards Coyotes https://www.youtube.com/watch?v=CwgRQEO8iKA
Dottie Derewicz APRIL 24, 2015 AT 11:06 PM Thank you Roger, good thoughts.Although having never had to live in a country with little freedoms to express.. I can’t really say how I would relate to that.
hugovictor54 APRIL 25, 2015 AT 12:27 AM Funny, Roger makes me think of this. Jack
Little Texas - God Blessed Texas
CryzSchilabel (@CryzSchilhabel) APRIL 24, 2015 AT 9:26 PM I think SDR´s are so 70´s… ;) but never the less…it sounds logical. My question to Mr.JC is: Why will they not choose/create a digital currency with the same features like the sdr´s? Thank´s you for your empowering work! One of my daily “must read” Blogs!
JC Collins APRIL 24, 2015 AT 9:46 PM You will see the blending of SDR and digital currency technology in the near future, when the actual world currency is implemented. There, I said it. The SDR is a stepping stone.
David Aylward (@Aylward5) APRIL 25, 2015 AT 12:37 AM Nice! I am a user of bitcoin and see its and other digital currencies potential for this. I just had a conversation with a friend last night and it was fun to listen to him break down the mental barriers he had against its use worldwide just as I had to do.
How much different financial transactions could be with its use..cheaper, faster, and bypassing silly regulations. I thought of one the other day.
It would be impossible for me to buy cases of a fine Burgundy on the internet due to regulations that favor regional distribution companies. Bitcoin can bypass all that.
So much focus on the “top” but I believe the “bottom” has just as much a role to play in the stability of the system in the future. Here in the US I see power slowly draining back to the states where it ought to be.
States like Arizona, Texas, Washington, Montana and others exercising their 10th amendment rights. We all need to be more multi lateral.
Cooper (@coopersmith648) APRIL 25, 2015 AT 2:08 AM @Aylward5 an interesting read from 1996 is HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH.
From our good friends Laurie Law, Susan Sabett, Jerry Solinas from the National Security Agency Office of Information Security Research and Technology Cryptology Division back on the 18 June 1996. The MSM haven’t covered this properly soooo.. really there isn’t any need for critical thinking. Move Along People… MAP.
David Aylward (@Aylward5) APRIL 25, 2015 AT 1:38 PM Wow thanks Cooper that is quite the homework assignment. From the bit I’ve read it looks like a thorough examination of electronic payment systems and even gets wonky(I like wonky).
The NSA and date is interesting but it wouldn’t surprise me if bitcoin is an offshoot of its creation. I’ve read similar methods were used to transmit pieces of intelligence quickly and securely and BTC may be derived from that. Satoshi is much like Ed Snowden to me in that I don’t entirely believe the messenger but I believe the message.
I have been reading some history of the BIS and can’t help but think its president, Thomas McKittrick, might have seen BTC as the perfect replacement to gold in ensuring trade continued before, during and the rebuild after WW2. I have sympathy for the notion that trade, free from political influence, was vital despite the ethical and moral dilemmas it raised.
Dripfood APRIL 24, 2015 AT 10:46 PM Among the many Alpine valleys in Switzerland, a new Crypto Valley is being created. People are busy to find the right technical angle for our future digital payment system:
Monetas is very promising for becoming the next generation cryptoc: http://monetas.net
Daneackerman APRIL 25, 2015 AT 12:21 PM Hello Dripfood I remember you being up on the digital currency from way back. Yes I’m still a bit hesitant for a couple of reasons but mainly it boils down to one very simple and probably selfish or greedy fulfillment.
If I want to see my money or hold my money or something I’ve done since childhood count my pennies and put them in paper rolls. Theres just something soothing in doing that which seems to touch my soul and that will be taken away with digital currency.
Counting pennies allows me a comfort and takes me back to times with loved ones sitting around the table socializing and such. Acting up and bumping the table trying to knock people stacks over…Oh come on you know you did it too:)
I guess its just a progression. As a child it was grandmas pennies luring us kids in to the table to spend time with her. Now I’m almost to that age of putting my pennies on the table and I am beginning to see the situation from her perspective.
Money counting can be seen in our history and myths so it seems to have been a part of us for some time. I just wonder what happens when that tendency is taken from us.
Dripfood APRIL 25, 2015 AT 11:29 PM Hi Dane, yes I can relate to those nostalgic feelings. I even carry around some of our old currency from before the Euro era. Can’t buy a thing with it, but the colorful notes remind me of good times gone by.
I’m sure our generation will be able to use both cash and cashless systems in the years to come, but somewhere down the line people will find it to much hassle to carry notes and coins around.
Ondonsimes APRIL 26, 2015 AT 1:12 AM http://www.ethereum.org looks like its got legs, given its very clever aimed at functionality & the number of open source developers it has attracted to its programming and implementation.
awogboy67 APRIL 24, 2015 AT 10:54 PM Hi there from down under, Keep up the good work there JC.
Only been following you for a year or so and find your site very informative, has taught me quite a lot as I’m a newcomer and taught me quick.
I came to this site through investing in currencies an wanting to learn. Although I’m is Aust. our governments have similar functionings and I understand a lot better what is happening globally.
I work in the shipping industry and have seen that all is not well govs say we’re doing great but TEU movements are nowhere near their previous GFC levels, so no we’re not doing well at all but I can see why people are not spending money as governments are holding on to their purse strings waiting for this shift to play out.
Nice to read a bit from the nay Sayers as it brings me more understanding of what your saying and to a newbie I also see your statements coming to fruition, but hey got to have some negativity to keep the balance, right???????
Don’t treat your site as gospel but it’s a better one with great articles and good informative debates afterwards. Keep up the great work, don’t worry to much about the naysayers, must have nothing better to do!!!!!!! G’day and G’dbye for now
Cooper (@coopersmith648) APRIL 24, 2015 AT 10:55 PM Sorry for sidetracking this post… but… with google searching SDR’s, IMF ‘stuff’ etc – I kept finding the words – “credibility, legitimacy and effectiveness” with regards to the IMF. So I thought I search THAT to see how widespread THAT particular phrase was used. Interesting for those with a lazy weekend.
…whaddyareckon? at a guess.. less than 10% of google search results with that term reference anything else other than IMF material. Again, interesting.
Cooper (@coopersmith648) APRIL 24, 2015 AT 11:57 PM p.s. Control + F = then type “IMF”
your google search results page should then highlight in yellow IMF “detailing” the extent to which the above ‘phrase’ is prominent on your search results page. From Australia, dating back to 2010, I can go 13 pages deep. Just sayin’…
daneackerman APRIL 25, 2015 AT 12:35 PM Hey Cooper….if you take your “credibility, legitimacy and effectiveness” and change it to “credibility, legitimacy, effectiveness” it reveals links talking about OECD so I searched them and found that their slogan is “Better Policies for Better Lives” ….interesting. http://www.oecd.org/
Dottie Derewicz APRIL 24, 2015 AT 11:09 PM JC, I once told a political friend of mine just what you stated about digital currency in relations to the world currency and he pretty much laughed at me. One question, what role do you think bitcoin will hold in the future?
Dottie Derewicz APRIL 24, 2015 AT 11:14 PM I absolutely love the video you posted JC..beautiful.
JC Collins APRIL 25, 2015 AT 1:11 AM Bitcoin, or digital currency in general, which are unable to provide liquidity, will grow as a method of transaction, and eventually be integrated within the SDR. Outside of that its use will likely be sporadic and volatile.
glennb6 (@glennb666) APRIL 24, 2015 AT 11:23 PM There you did say it. Two questions and a comment if I may…
– what’s your take (with respect to the implementation of the SDR) on the recent news reports of BofA, Chase, and Citi saying cash should be replaced?
– as this transition from US$ to SDR as a world reserve moves forward, do you expect “cashless, electronic only currency” to become implemented in tandem?
– :) well understood that people, me included, tend to blame other people/govt’s/systems for many of the ills and troubles in the world, well geez louise, pretty difficult to read any news anywhere without finding so much fault in corruption in govts and corruption of systems. Blame where it’s due is not a cop out.
Dripfood APRIL 25, 2015 AT 11:01 AM Hello Glennb, many of us have tried the blame game and sooner or later we all find out that the cost are way bigger than the return. So why would you invest in something with an assured negative yield for yourself and everyone around you? :-)
Usernameisfake APRIL 25, 2015 AT 5:48 AM Hi JC Listen I get that at a metaphysical level there is no “them and us”. We are all one, that’s for sure. But the problem as I see it, is that some of us choose (in this incarnation) to live as parasites off the time and energy of others and some of us don’t.
So in that sense there is most definitely “them and us” and the problem for the bulk of humanity is that the .01% elites who have monopoly control of the world monetary system, (which is the economic means by which we exchange our time and energy on this planet) are then able to exploit us mercilessly via their proxy governments, legal and tax systems etc.
What you are essentially detailing in your posts is the mechanism for the reset of their world monetary system and you certainly have a very good grasp of their agenda and methodology.
However, I’d be very interested to get your feedback on the “One Last Look At The Real Economy Before It Implodes – Part 6 – Solutions” post by Brandon Smith at http://www.alt-market.com/articles/2572-one-last-look-at-the-real-economy-before-it-implodes-part-6-solutions
He obviously agrees with your take on the transition to the new SDR world currency. But more importantly, I’d be interested to hear your feedback on his proposed solutions, given your insistence that you are all about empowering the individual and that we must stop blaming others for the current state of the world. Regards Paul
Comments may be made at the end of Part 4 Thank You