Hello, Just got another news letter from mnt goat. A good long read. Thanks. George
(Note: Thanks George for sending this to us today!)
Mountain Goat: Hi Everyone,
Earlier in the week I decided to hike up my familiar mountain in the Alps. These are much more than hikes. They are a time for contemplation about recent events and what is happening with this GCR process.
I returned home refreshed and with an appetite for the delicious dinner Meine Hubby prepared for the family. After diner I decided to sit at my desk and compose this news letter. I have taken the time out from my busy schedule to compose this news letter for you fine dinarian friends. I feel it is now the time for all to know this information. This is a very long news letter today so be patient.
I will also review some answers to questions some of you readers have been asking me about other topics related to the IMF global reset plan and the timing of the exchange process.
First I need to review with you how the IMF is using this global reset plan to shore up the global monetary fund and prevent future crisis.
If you remember my news letters prepared last summer I talked in detail about being “careful what you wish for”. All the excitement from these projected large payouts from these foreign currency revaluations is such that you might overlook what is really happening behind the scenes as part of the Global Reset. This money you are about to have is a distraction and there are strings attached.
Do we all understand what this “Global Reset” really is?
In November 2010, the IMF agreed wide-ranging governance reforms to reflect the increasing importance of emerging market countries. The reforms also ensure that smaller developing countries will retain their influence in the IMF. I firmly believe that had the world not experienced this global financial crisis in 2008, we would have had seen the revaluation of the IQD in mid 2012..
In 2010 it was already decided to use the IQD as the foundational currency for the global currency reset so no matter what we, as investors, thought there was going to be a delay until all the IMF reforms were put in place.
The GCR would be one of the final steps in the process. I will explain why I feel this way.
At times we get all hung up and frustrated as to why the Global Currency Reset or GCR is taking so long. In reality it is just a small part of the overall global reset or final conclusion to this IMF 2010 reform package.
We should all be informed that there are other significant changes too that will impact our daily lives whether we are already independently financially secure, run our own business, or are just a blue or white collar worker. Let me tell you about some of these other laws.
Yes I do believe that the impacts of these massive changes of the Global Reset are about to be felt. You need to look at the GCR as one of the final steps to the global reset process. So there have been many other items that needed to be put in place prior to setting off the GCR.
The overall global reset has in fact been taking place now for over 3 years, since its inception in 2010.
Once these items are put in place the IMF will then pull the trigger and revalue some +190 currencies. Some will revalue and others will devalue. Do you care?
It will be unprecedented in the history of the world and will surely be noted in our future history books as one of the greatest events ever.
In comparison this event is like the great depression and the changes the New Deal brought to the United States and to the reset of the world. I want you for a few minutes to imagine what it must have been like during the late 1920’s and early 1930’s. How did people live? What was going on with the stock market, the banks and other financial transactions between countries? Remember also this was pre-WWII era. You might want to read up in this topic.
So what are some of these events called the 2010 IMF reforms? These reforms must be in place as part of the global reset and in place prior to the GCR kickoff. I can tell you with all certainty that this must be done. I do not know all the items (since this world wide and very complicated) nor am I allowed to talk about some of them in this news letter. But I will share what I know and I can share.
Here are a few of the reforms: Do they sound familiar?
IMF quotas to double to about $755 billion (they don’t talk much about what they intend to do with all this newly found money. I will try to explain later)
The bottom line is that 110 countries out of 187 will see their quota share increased or maintained
WTO centralized methods for collection of these taxes
The IMF’s Executive Board has approved far-reaching reforms of the way the IMF is run (much more centralized power)
Significant shift of voting power to dynamic emerging markets, developing countries
The 10 largest members of the Fund will now consist of the United States, Japan, the four largest European economies (France, Germany, Italy, and the United Kingdom) and Brazil, China, India, and the Russian Federation (the BRICs)
Many events/items had to be completed to accomplish implement these reforms:
Develop and Implement new Basel III banking regulations implemented worldwide
Asset inventory of +190 member countries
Recalculate new exchange rates for these currencies
Streamline the process of the currency revaluation rollout
Change over responsibility for the exchange process rollouts from the UST to the World Bank
Ratify the 2010 reforms by each member nation
Increased UN share of all Tariff collections (this is why Iraq Tariff laws were so controversial and took so long to ratify and implement)
Rebalance the exchange rates of +190 nations i.e currency revalue
Do you see now how the Global Currency Reset is just a very small part of the total reform implementation in what we call the global reset?
Can you now see how technically the global reset must be almost entirely completed prior to any GCR happening?
Can you now understand why this has taken over 3 years to implement?
Original Timeline for GCR
The Executive Board of the UN endorsed a timeline that calls for the quota increase and realignments to take effect by the IMF-World Bank Annual Meetings in October 2012, and Executive Board reforms to be implemented no later than the subsequent Board election, which was scheduled in late 2012. The later part did not occur and is late due to late implementation of some of the items that were needed to have done and in place prior.
Again it is so important to understand why this was done and who and what organization is driving these efforts. Certainly it was not totally the IMF or totally the United States Treasury (UST) but a joint cooperation.
Let me tell you what the IMF really is and why they are now taking the lead in the global reset. In order to truly understand what I am about to say you must understand some basic facts about the IMF and how it’s banking system works.
The International Monetary Fund (IMF) is an international organization that was initiated in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries (now 188 countries).
The IMF's stated goal was to assist in the reconstruction of the world's international payment system post–World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity and others such as surveillance of its members' economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries.
Upon initial IMF formation, its two primary functions were:
1. to oversee the fixed exchange rate arrangements between countries thus helping national governments manage their exchange rates and
2. allowing these governments to prioritize economic growth
The crisis of neoliberalism and the future of international institutions: a comparison of the IMF and the WTO and to provide short-term capital to aid balance-of-payments between nations.
This assistance was meant to prevent the spread of international economic crises. Well we all know about the severe crisis in 2008 and so the current funds available in the 2008 pool dried up quickly. This is now why the contributions to these fund hand to increase and member contributions now are doubled to $755 billion.
This was done now in the hope that, should a crisis of this magnitude happen again in the future, there will be ample funding to prevent the spread of the crisis into a global crisis. There are also other measures as part of the reforms now being taken such as decentralization of the median of exchange of the use of the US dollar.
Yes – in the future the US dollar will no longer be King Dollar. Simply put the financial irresponsibility and also the financial corruption of the US government and its banks has shown to the world that any hiccup in the US economy could bring the rest of the global financial markets to their knees.
Thus instigating a major global financial crisis.
Some proactive measures had to be done to prevent this. Of all of these measures were met with great resistance from the USA. This is another reason why the 2012 goals of full implementation of the reforms by the IMF have not yet been met.
I talk about this decentralization by grouping nations into currency districts later in this news letter. This is something in the making and you will see gradual implementation the following years to come..
Link to Part 2