Recent Reader Comments From JC Collins "Days Of July" in Economics
The Days of July – BRICS Still Seek SDR Solution By JC Collins
IMF Reforms and the 70th Anniversary of Bretton Woods By JC Collins
aamichael666: Of course they still seek an SDR solution. If the US Congress ratifies the changes in the IMF Reform then the USD is dead as the WRC and the rubber band of overseas ‘euro’-dollars snaps and comes flying home.
FACT: BRICS completely understand in reality that the IMF Reform is NOT going to be ratified by the US, and that their new bank will takeover from the IMF, and the SDR will be replaced by another equivalent.
FACT: They have to say this so it singles out the USA as the party that is stalling change, without upsetting every other country who partake in the IMF.
FACT: If they openly tried to setup a competitor to the IMF without acting like they are willing to still partake in the existing arrangements then they would be shunning Germany and other EU countries that are currently bucking the Anglo-American influence within NATO and trying to reform the IMF. This would be estupido realpolitik on behalf of the BRICS.
FACT: ALL Countries partake in Central Banking fiat, and presumably always will, because Gold and Silver cannot be used for online/electronic transactions without being deposited in a bank which could fractionalize its assets vs liabilities anyway.
Even though PM’s maintain value in the long run they are no silver bullet against creative accounting and never will be, so Central Banking is obviously not going anywhere in a hurry. Especially while London & NYC where the Fiat Beasts were born and weaned are still rigging the craps table.
Realpolitik suggests that BRICS is an expression of the rest of the world ousting the Anglo-American influence in world finance, and trying to do so in such a way that any overt military action by the US-UK special alliance can be viewed openly, and rightfully as fascism …
which is why the Ukraine situation is now involving false flag civilian casualties as the USUK continually play the only play in their playbook that is left; more Gladio style false flags. Yawn. Same old playbook, only 1 play left in this book.
I don’t particularly trust any banker, and would always have my long term savings in PM’s and other commodities, but suggesting that BRICS is the same as the IMF is missing the true events unfolding; the death of an English Speaking Empire to make way for a multi-polar world.
And why shouldn’t the world be multi-polar? Trade imbalances such as the USD WRC situation has created would be defunct if Currencies purely represented trade dynamics, rather than one country being able to export their inflation to everyone else, causing also currency devaluation wars to get out of control.
And London is a USD harlot that feeds off of fees and Derivatives profits from the USD’s that flow through its coffers (More USD’s are traded in London every day than in the US).
This is the same reason the ECB is taking the BOE/UK Parliament to court over City of London Trade Depositories managing EURO denominated equities and derivatives (50% of ALL derivatives traded in London currently are in Euro’s).
The ECB (via German pressure) knows that the City of London is a parasite that feeds off of other countries and Unions financial flows via front-running.
The reality is that Germany is closer to Russia than everyone believes, and that it is not all peaches-and-cream under the NATO umbrella.
Daneackerman: I would like to do further research on some of the facts you outline above. Do you still have some sources for them? If so would you be able to share them?
aamichael666: As regards understanding the dynamic that exists between the City of London (the Square Mile, different from Metro London) and NYC and American finance, I would strongly recommend reading the following book.
It is clearly written, relatively short, and sold in an economical trade paperback that does not cost much;
Treasure Islands: Tax Havens And The Men Who Stole The World _ by _ Nicholas Shaxson (2011).
I would have to provide dozens of links, all of which never really get to the gist of the real problem with world economics, this one book (which is not only about tax havens) explains clearly and succinctly without getting too technical where the real problem lies.
In the Dark Pool finance, and the Tax Haven networks, that provide anonymity outside of the reach of any legal jurisdiction.
Most important Hedge Funds are incorporated in Tax Havens, and contrary to popular belief it has more to do with anonymity than avoiding tax, though tax avoidance is an obvious benefit.
This is why the Justice Systems of the world have no reach for these international ponzi scheming criminals. Turning an entire economy into a ponzi scheme (such as the MBS and CDO collapses and scandals) was the work of a ‘culture of fraud’ the head organizers of which were hiding behind multi-jurisdictional firewalls. They knew exactly what they were doing.
Proof of the importance of London in creating the legal-daisy-chain-transaction-pipe with NYC can be seen simply in the very qty of foreign currency transactions that it attracts.
This Telegraph Article is a good example of a rare Journalist in London telling half truths;
QUOTE: “An estimated $15 trillion (£9.4 trillion) in banking assets are housed in the City by institutions from across the world, in plain loans as well as inter-bank derivatives and other securities. Finance is the UK’s second largest industry, after manufacturing, and central to any economic recovery strategy.”
This quote is also covering The City from another truth. $15 trillion is first of all a complete underestimation as it only stated DOLLAR$, not Euros, Pounds, and all the other world currencies that it exchanges and organized Derivatives for.
Also, WAAAY more than $15T is sitting in the various UK Tax Havens (Jersey, Isle of Man & Cayman Islands) and lots of this money is managed for the World Elite (read, Politicians) who use their secret accounts to hide their REAL income, for their political favors. Their Govt salaries are just their Tips.
As for the BRICS announcing that their Reserves will mainly be USD instruments. Many a blog is using this as proof that BRICS is simply an extension of the IMF only ‘acting’ like it is different.
This is totally wrong, and a manipulation of the reality of this move. Of course they are going to firstly use US Dollars. China is sitting on Trillions of US Dollars (official + oligarch private wealth) that they now need to offload for a Material Gain.
If they dumped them all at once this would be stupid, because it would devalue their buying potential. So instead they set up the BRICS Bank, and China announces (right before MH17 goes down) a new ‘partnership’ with Argentina.
Argentina says it ‘will pay its debts’. This means that Argentina is about to refinance its USD hold-out loans from Western Creditors to the Chinese.
The Chinese get to offload their USD’s for a material gain to a country that can provide raw materials for otherwise useless paper, and the Western Loan Sharks are sent packing … you see, the loan sharks don’t care about the Principle of a loan being repaid, they only care about the Interest (Unearned Income).
A good investment is one that is NOT paid back, and which perpetually extracts Increase.
So of course the BRICS are going to use USD’s … they are saying that they are reversing the tide of USD Word Reserve Currency Outflows … ie, that US Military Deficit spending will have to be funded by more QE (which openly damages the US’s economic credibility), or they will have to close down Military Bases and wind up their power over the seas of the world.
The loans begin; 7.5 Billion for starters;
Argentina has a total of $20billion hold-out debt globally from their past restructuring.
China just paid 40% for starters. So China is the new King Pin in this part of the world, and the USD’s being paid back get unleashed in atrophied Western Markets; but where to find yield in the West?
Do you want a MBS? AAA rated, I promise … LOL! The Fed wouldn’t buy so many of them if they weren’t a great buy right? :P
Fact is that US Companies are actually BUYING BACK THEIR OWN SHARES at the moment (hint: this is not normal in these qtys). This is tantamount to US Companies choosing to De-list from US markets, so are they planning on tapping capital somewhere else? Maybe Shanghai? LOL.
It’s not just Argentina who will swap their loans, it is every other developing country that owes the IMF a pound of flesh. And there are many, and they all know they have been manipulated.
The BRICS are playing a pragmatic hand. They have to look like they are only doing what they are doing because the US won’t reform the IMF Quotas/Charter Dynamics removing their Veto Power.
If the US does this it is tantamount to the Congress signing the death warrant of the US Free Meal Ticket (WRC), which is why they will never do it, the US Military cannot operate without deficit spending paid for by foreign creditors (Just like Ancient Rome), and the US Military is what enforced Petro-Dollar Dynamics which is the centerpiece of the USD WRC strength.
What is the other option to Fiat Currencies? Gold. But Gold cannot be passed through a computer screen to another recipient, so Country Currency Units will never disappear, just the transfer of Gold as a Balancing Mechanism … but this requires a World Gold Auditing Body that is not biased (this is not on offer from the IMF all the while the US has Veto because otherwise Ft Knox might have to show its cards, and they all know the Emperor has no clothes).
My problem with the new Anarchist Counter-Revolution against Fiat and ‘Banksters’ is that it never poses solutions to problems with world economic systems, it only seems to criticize the current system and any alternative system.
The main problem is obviously that ONE country has had a monopoly on monetary expansion, and every other country has had to pay the price for their own slavery as the US Military fund terrorists all over the world (and Zionist Israel) in order to wage wars for totally different economic and political reasons than Western Media is paid to present to the world.
Operation Gladio is a great example, on the record, and discussed frequently in the European Parliament.
Note with interest where this says;
“LCH Clearnet’s SwapClear platform handles more than 95 percent of the overall market for cleared, over-the-counter, interest rate swaps, according to data on its website. LCH.Clearnet declined to comment on the court case.”
Do you know about the ISDA-Fix scandal that apparently traces to a boiler room office in Jersey City nicknamed ‘Treasure Island’? Have you heard about Julian Knott the JPMorgan executive who apparently blew himself and wife away with a shotgun last June?
He was heavily connected to JPM London Office, and was a main architect of the Interest Rate Swaps market and was implementing the structures in Jersey City.
Then the rigging scandal was blown wide open, and Knott was ‘cleaned’. All the BIG scandals can be traced back to London, where the real front-running is done.
The US and UK are like peas in a pod, and their special arrangements (including the Commonwealth) amount to an attempted global takeover. And I say attempted because it is now failing miserably.
BRICS is a very real competitor to London and NYC banking fascism, not simply an economic strategy of tension to achieve a world wide fiat. And here’s something else that Snowden popularized.
Excuse use of Wiki. Can this be used for Commercial Espionage? What would be the use of such things for the worlds largest Financial Centre (London) that has the ability to front-run massive markets and trade flows that pass through its coffers?
Why is Merkel throwing out US Intelligence Officials and also Verizon?
Also why is BaFin (German Regulator) unrelenting in its attacks against the City? (FOREX, Derivatives, Precious Metals Futures, etc…) NATO is a little fractious, is the only explanation.
There’s millions more questions that need to be asked, but which are never asked. It’s not a case of having Links to explain the points above, but more to do with ‘asking the right questions’.
Suffice to say the Western media will never ask these questions because most of them are already part of the Intelligence Operation.
The Ministry of Truth!
“We will know when our program of disinformation is complete,when everything the American public believes, is false.” - William Casey, CIA director in 1981.
Daneackerman: Wow! No wonder my phone crashed when I tried opening this response earlier. I must say thank you very much for taking the time for such a detailed response.
I guess I should have been a bit more specific in my request. I spend about 4 hours a day on the road and this “non-productive” time kills me. So I have taken to listening to audio books from an app on my phone.
“So far so good” as long as it doesn’t put you to sleep….don‘t ask how I know:-). Let’s just say I could have skipped to the last chapter for Rickard’s The Death of Money. Treasure Islands is available so I will download it next week.
The tax haven networks would explain the turmoil over FATCA this past July. The Dark Pool finance and tax haven networks must be pissed “an agreement with the IRS to identify their U.S. person account holders and to disclose the account holders’ names, TINs, addresses, and the transactions of most types of accounts.”
And I guess it’s no wonder the UK is talking about their recovery with all that capital flowing in.
“Do you want a MBS? AAA rated, I promise … LOL! “ No! heck no. No more structured schooling….lol.
You’re doing just fine like you are:-)
Five Eyes is new to me. But Facebook and the like spans the globe and those Fusion Centers are getting plenty of funding so it does make sense. Don’t worry about wiki these days everything has to be rationalized through our own personal filters anyway. Unfortunately many have no filters at all. Too bad for them.
Fusion Centers – http://www.dhs.gov/state-and-major-urban-area-fusion-centers
” Anarchist Counter-Revolution” I can relate with your feeling on this movement. Solutions are very far and few between. It seems so much easier to blame the closest thing available.
But I agree with JC’s thinking in that there are some good people in key places working for the good of it all. Patients has been the key while watching it unfold for me. It helps me not jump to conclusions prior to the bigger picture unfolding which has….I guess put me out of phase with all the conspiracy hype and frantic fear of end times.