JC Collins & Readers’ Thoughts on “The Days of July – BRICS Still Seek SDR Solution”
matt (@speedspirit42) Very helpful information. Thank you. It would seem all has been very quiet lately but I now we see that a lot of inner workings has been taking place.
JC do you suspect the next disturbance to the economy will be a big disturbance?
Or at least by January a big enough jolt to get the 2015 Reforms signed by Congress. How much will life change in just having those reforms signed?
JC Collins I’m suspecting that most of the changes, at least for America, are already happening. Most of the current events in the US are likely preplanning and prepositioning before the actual reforms are implemented. This transition may not always happen in the linear pattern that we would expect it too.
In regards to a big event, I’m on the fence about whether there will be one or not. Much can be accomplished with the shock of a big event but just as equally much can be accomplished with the slow and gradual approach. Its the slow and gradual approach which we have been experiencing since 2010.
Like tension in a movie, its building anticipation in the masses, but we may find the final act to be anti-climactic.
Tommy Alvarez (@tommyalvarez929)
JC, thanks for all the insight. I’m a daily reader and don’t post much but would like your opinion on this article, thanks again.
JC Collins You’re welcome Tommy. In reference to the article, see my response to Susan below.
dripfood Could it be that we have already experienced the problem and reaction fases with the systemic bankfailures and consequent bail-outs as the problem fase and the Occupy movement as the reaction fase?
At least in Europe, Basel 3 is presented as the solution to financial systemic breakdown of 2008.
In Europe, we experienced the threat of sovereign debt failure, when Greece, Spain and Portugal nearly went bankrupt and threatened to pull down other countries like domino’s. The fear from that event is still used to pass all kind of financial legislation as a solution.
And don’t forget Iceland and Cyprus were prototypes (or calibration events) for two opposite solution scenarios. I speculate that these events were uses to calibrate the SDRM.
I am not sure an additional problem event is needed in Europe, but maybe North America and Asia need a close to home refreshment event…
JC Collins You are correct. The problem/reaction/solution phases are like the ebb and flow of the tide. But every once in awhile a bigger wave comes crashing in.
Axx fann (@fann_axx) For Matt, JC, Hugh, Dane and all….
This defines poetry and music… https://m.youtube.com/watch?v=Bhc71T5mlVA
healy joey (@laughheals) Here some info to ponder about the BRICS: LINK Very telling.
Axx fann (@fann_axx) Few are aware of the transition… Wil it be a grand announcement ? Doubtful…
It will occur beneath the veil of night… Those attuned will see it… Mr. Collins, you as always provide insight for those that seek truth…
Dineen Jogola JC, I’m not sure if you’ve written a response to this already but what do you make of the Central American children rushing the US boarder and being transported into the country along with a heavy media black out?
JC Collins Not completely sure but I’d guess it has something to do with tearing down the sociological integrity of the American consciousness. Perhaps its worth further investigation…
Ozymandias 3 The “tearing down the sociological integrity of the American consciousness” along with the active destruction of ethics, morals, and standards in American very seriously escalated after the death of JFK.
JC Collins Tyberious, I approved two of your comments in good faith. But this is not a reblogging site, especially when what you are attempting to post is misleading and not taking the full scope in consideration.
I’ve provided plenty of official links and official quotes to support the thesis that IMF reform and SDRs are still very much on the agenda of all countries. These links and quotes come from the BRICS themselves, China individually, the US Treasury, IMF and various non-profit organizations associated with the global institutions.
To continue denying the process seriously calls into question the authenticity and validity of anyone doing so.
Stop sending me reblogged posts which ignore the published facts from the global institutions themselves. You will not succeed in reframing this argument. At least not here.
Tyberious 2nd opinion
U.S. Debtor Meets G20 Creditors at the Dollar’s Funeral
MAJOR GLOBAL TURNING POINT By Jim Willie CB
The Chinese are also leading a movement to create an Emergency Fund for the Assn of Southeast Asian Nations (ASEAN), one which will assist in defense of any hot money attacks against a smaller Asian nation. In 1997, the Asian Meltdown was triggered by hot money attacks waged against Thailand and South Korea.
My personal belief is that the Emergency Fund will blossom into a pan-Asian Regional Bond Fund for economic development. The Asian-only fund will essentially serve as a gigantic regional savings account, free from Western control and pressures, independent from Western currency risk, and operate as a regional economic development fund.
The latest big currency news is between t he central banks of China and Argentina. They reached an agreement for a three-year, $10 billion currency swap, disclosed by the Chinese Central Bank Governor Zhou Xiaochuan. One can rest assured that their USTreasury Bonds will supply the funds.
The move follows swap accords between China and Indonesia, South Korea, Hong Kong, Malaysia, and Belarus. The agreement broadens Argentina’s access to foreign currency reserves in order to achieve stability.
Argentina was excluded last autumn 2008 from the US Dollar Swap Facility program created by the USFed for emerging markets, which were designed to aid Brazil and Mexico.
Watch Venezuela and Iran be next for Chinese swap stations. One can conclude that China is expanding its stations globally for creating the Chinese yuan as a global reserve currency in competition with the US Dollar See the Bloomberg story (CLICK HERE ).
Strange but meaningful additional challenges have come, these centered upon the Intl Monetary Fund. For years, the IMF has granted loans denominated not in US Dollars but in Special Drawing Rights, which often function within various currency denominations, if not a basket of such currencies.
The SDR formally is an international reserve asset already in usage. The SDR has been put in focus, if not under the microscope lately. Russia has formally suggested that the IMF be used to establish a new global currency system, to replace the defunct and broken US Dollar system, and to use the SDRights as a new formal basket for global banking and commercial settlements.
My belief is that Russia has used the concept as a straw man, just to place emphasis away from the US Dollar Once accepted, the concept can morph to another new currency suddenly. China has endorsed the SDR concept raised by Russia as well, to gain credibility.
My view has been consistent for months. Unless and until the foreign creditor nations distance themselves from a US$-based banking and commercial system, they run enormous risks.
Their banking system, their financial markets, their economies, their standard of living, even their political stability, will all remain at chronic heightened risk.
Alternatives are extraordinarily difficult, challenging, and daunting to design, construct, and implement.
A system built after World War II was perverted in profound manner when in 1971 Nixon abrogated the Bretton Woods Accord in a single betrayal stroke.
That manoeuvre was one of the most important violations of a treaty in modern history. It declared the United States as global financial dictator, enforced by a powerful USMilitary, aided by a large strong economy. It perversely invited all major economic nations of the world to join in managing free money off a printing press, of course with inherent risk.
Axx fann (@fann_axx) Everyone attempts to understand/interpret the unknown… Time will reveal…
The chess pieces continue to play the game…
JC Collins We are the unknown and as such we want others to understand and interpret for us.
Axx fann (@fann_axx) $$ means nothing more than a comfort level. We all seek it to provide peace of mind and keep the PTB at bay. It offers nothing more.
Mankind collectively seeks sameness. The corruption in man hinders progress. The defining light of mankind will always be truth and justice for all… It exists for those that see…
We possess the tools to prevail, it is simply a matter of time… Change is coming to benefit man, our hope is always greed and power will become a thing of the past… God Bless Always JR
Susan Morris Dear JC, I haven’t had time to read your latest, but I just saw this and thought it interesting: http://notquant.com/bank-of-england-raising-rates-outside-of-political-reality-wait-what/
More theatre, or some change in the wind?
Also, how does Putin writing off Cuba’s debt fit into the ‘BRICS part of the SDRs’ scenario?
There does indeed seem to be some rebellion to total domination, although I agree we have to make sure we’re not taken in by false opposition.
I also don’t understand – and I desperately want to – Israel’s rôle in the coming world order…
JC Collins Susan, the Federal Reserve used the same tactic recently by disagreeing with the BIS and within a short time did an about face and is talking about raising interest rates.
I believe we are in the early stages of a deflationary period which is a contraction of the money supply. Realistically, any reset or restructuring of the system will need to be coordinated with a contraction of the money supply.
Cuba is going to be interesting to watch for a number of different reasons. Its like the pawn that was strategically positioned on the side of the board and then forgotten about.
In regards to domination, there always has been domination. We were told in the past that we are free and we will be continued to be told we are free. Free is a misnomer applied to social and economic flexibility within a structured system for the purpose of consolidating time and labor.
Israel is the base camp operation for getting back into Egypt. Egypt has always been the prize, but it just can’t be taken, it must be given.
The slave seeks to become the master but the true meaning of the Mysteries allude them. Kings come and go at their leisure from the Grand Lodge of Cairo, but the path taken cannot be simply found, forced, or purchased. It must be learned.
Our current and past monetary systems have been corruptions of all forms. A convergence or consolidation, as symbolically told in the story of Babel, will only be a larger corruption.
Israel and Egypt are forever tied together in both force and form. It’s not a coincidence that Israel was officially created through the same UN process as the Bretton Woods. And now that system is being further consolidated.
Axx fann (@fann_axx) Israel is a large part of the problem… They mask their true intent. Once the U.S. disengages, we may find balance. So much focus on Palestine is a farce… It once again becomes a prelude to war.
Understanding the current demise of the Malaysian flight should provide clarity for those that see…
Axx fann (@fann_axx) Mr. Collins, You always inspire hope in man. The following attachment is man and hope…. Enjoy…. https://m.youtube.com/watch?v=Al11089xFVk
Axx fann (@fann_axx) Netanyahu is not one to be praised… He continues to promote war… I hope his days on this earth are numbered. Israel’s war of attrition is waning… The government of Israel and support from the West is dwindling. Where is the news of Palestine’s dilemma? Are they that evil?
Research before placing judgement… Time will reveal a new world. Accept or reject, it will come to pass in a positive light. It is the destiny of man… One must admire the BRICS and Putin as an attempt to reach balance. Most will not see until it occurs. I hope all is prepared… It will come to pass… Food for thought…
By Dr. Arieh Eldad an M.D. at Hadassah Hospital in Israel
I was instrumental in establishing the “Israeli National Skin Bank”, which is the largest in the world. The National Skin Bank stores skin for every day needs as well as for war time or mass casualty situations.
This skin bank is hosted at the Hadassah Ein Kerem University hospital in Jerusalem where I was the Chairman of plastic surgery.
This is how I was asked to supply skin for an Arab woman from Gaza , who was hospitalized in Soroka Hospital in Beersheva, after her family burned her. Usually, such atrocities happen among Arab families when the women are suspected of having an affair. We supplied all the needed Homo-grafts for her treatment. She was successfully treated by my friend and colleague, Prof. Lior Rosenberg and discharged to return to Gaza ..
5. The Sixth Summit takes place at a crucial juncture, as the international community assesses how to address the challenges of strong economic recovery from the global financial crises, sustainable development, including climate change, while also formulating the post-2015 Development Agenda.
At the same time, we are confronted with persistent political instability and conflict in various global hotspots and non-conventional emerging threats.
On the other hand, international governance structures designed within a different power configuration show increasingly evident signs of losing legitimacy and effectiveness, as transitional and ad hoc arrangements become increasingly prevalent, often at the expense of multilateralism.
We believe the BRICS are an important force for incremental change and reform of current institutions towards more representative and equitable governance, capable of generating more inclusive global growth and fostering a stable, peaceful and prosperous world.
18. We remain disappointed and seriously concerned with the current non-implementation of the 2010 International Monetary Fund (IMF) reforms, which negatively impacts on the IMF’s legitimacy, credibility and effectiveness.
The IMF reform process is based on high-level commitments, which already strengthened the Fund’s resources and must also lead to the modernization of its governance structure so as to better reflect the increasing weight of EMDCs in the world economy. The Fund must remain a quota-based institution.
We call on the membership of the IMF to find ways to implement the 14th General Review of Quotas without further delay. We reiterate our call on the IMF to develop options to move ahead with its reform process, with a view to ensuring increased voice and representation of EMDCs, in case the 2010 reforms are not entered into force by the end of the year.
We also call on the membership of the IMF to reach a final agreement on a new quota formula together with the 15th General Review of Quotas so as not to further jeopardize the postponed deadline of January 2015
FWIW – (for what its worth) I thought the deadline was April 2015 – mentioned here as January and the call for the IMF to act before yearend in outlining options to move forward – pressure turned up a notch?
Oliver The BRIC’s countries uses diplomacy and actions instead of empty promises and ignorance from the US and it’s allies.
Off course BRICS are saying that they will work in tandem with current systems i.e. IMF and World Bank but then both are working with the $ and not outside the FED reserve system as BRICS are doing.
How better to be influential having several options on the table as the BRICS now have? The recent sanction outbursts from the US speaks volumes.. they are pissing their pants at least officially.
Since the US is not invited in the new BRICS investment institutions this is going to be very interesting to follow.
daniel grig (@gelingrig) That in Crimea has not passed what is happening in Ukraine? There is a single reason. Russia protejio to Crimea with authority and without any possibility of negotiation, with the West.
He had a firm and decisive attitude. That not protejio Russia to Ukraine? Would making I leave it desangrandose under the cruelidad of the mercenaries sent by the West?
Russia is wash my hands like Pilate, and leave the Monetary Fund to strangle the economy of Ukraine, something that does not happen in Crimea.
Russia could prevent the derocamiento of the Government legitimate in Ukraine, but it did absolutely nothing, not got the troops to prevent the disaster, as I protect to Crimea.
To demonstrate its hipocrezia Putin, got tanks in Ukraine, when it was too late, just as a demonstration of a false compassion and a fake support.
Ukraine wanted to be free of the two, both the West and Russia, something impossible in the new dynamics of global slavery, where countries have agree either with the West block is the block with BRICS, or any other, no matter what, that all countries have a “GPS” geopolitical which is the Bank for international settlements, installed as a TUMORA MALIGNANT each central bank of each country.
All roads from all countries lead to Rome – the comprehensive world order.
Clear – if not anything so this devilish address change.
In conclusion what happened with Malaysian aircraft, cannot be more than a false flag.
CryzSchilabel (@CryzSchilhabel @Oliver I Think, your view of “good” and stronger BRICS is the product of a manipulation.
In the end we are all depending on each other more than the official propaganda can (now) allow it. Especially in a global world.
Also please take a look at Ripple and the involved investors in it. There are Chinese AND US Investors.
There will not be a “total” shift, but maybe a stepwise.
I mentioned ripple, because i think cryptocurrencies will have their part in the upcoming changes and that is surely noticed. The underlying idea and chances :
It´s the synthesis between the “old” and “new” structures of governments, centralbanks and private corporations.
“Unlike other cyber-tech approaches, the value web does not seek to bypass banks and governments, but to help them transform into more dynamic, socially-useful institutions.