Hello Everyone! I discussed these CNBC videos on the June 13th RoundTable on The GET Team cc. There was a rumour that CNBC might have "slipped up" and talked about a "global reset". I was watching for that, but did not see anyone see anything of that nature. The term "global reset" is used quite a bit these days in the media, so it does not automatically refer to the long-awaited RV.
For some time, the mainstream business and financial news media have been debating the possibility of a "global reset" as economists and others analyze potential solutions to the Eurozone.
While use of this term is not reporting the RV, I believe that it does relate to the RV. It has all the characteristics of deliberate "messaging" to raise the public consciousness about the possibility of a global reset, so that when the RV and global financial changes do finally occur, they will not be such a shock to everyone.
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They will instead appear reasonable and significant. This "messaging" is a form of education and also a preparation for culture change. It is how a formally managed transformation would prepare people for a massive change that could have emotional and psychological impacts.
The videos do one other thing that is important for "messaging", education and culture change. They educate the public on how a country would switch from one currency to another.
In the videos, they discuss the drachma and their hypothesis of how such a switch would occur.
For example, there might be a 1:1 exchange of the Euro for drachmas, and then after that market mechanisms would be deployed and the drachma would find its new rate. The explanation in the videos is done very well, so it is worth watching.
It covers all the basics -- what would happen to people's pay and bank accounts, what would happen to contracts written in Euros that have not yet been paid, how a return to paper drachmas and how electronic trading of the drachma would occur, etc. The example could easily apply to any country and currency, including the Fed USD.
Here are the links. If they don’t take you to the videos themselves, just use the date and caption to find the videos in the archive. On Wed afternoon, they were already on page 12. The second video covers the explanation on how a redenomination of the drachma might work. It is included in the latter half of the first video.
Is $125 Billion Enough for Spain's Banks?
MON 11 JUN 12 | 01:00 PM ET
David Bianco, Deutsche Bank, discusses the market's reaction to Spain's bailout.
What If Greece Leaves?
Mon 11 Jun 12 | 01:10 PM ET
So what are my thoughts on all this? All of the above is good for the RV. From a transformation perspective, this tells me where we are on the map of change, and that is indeed near the end. This type of activity ("messaging", communications and education) is part of a specific activity and area of expertise called "people change management". This type of messaging does not usually happen until the target event is drawing near . . . otherwise everyone will forget what they are taught - in which case they will have to be educated all over again so that the info can be "top of mind".
So while this info does not mean that the RV is going to be immediate, it does indicate that the current planned target date for a global reset is near.
Have a great day everyone! :) Historian