Fireball92: Folks who continue to ask WHY Iraq is getting a loan.... Really need to study up... Its advanced Economics 101
VaDream: I understand why they got the loan economics 101 but why not just rv to move your country forward?
Fireball92: va dream- infrastructure….. without infrastucture to support it, progress will overwhelm and cause implosion
Fireball92: The Iraq loan is like this. If a high earner loses job for a couple years and also gets robbed BIGtime, totally devastating their finances, (IRAQ). Then finally the person gets a new source of income (RV rate), they will not be able to immediately resume their lifestyle and former economic activity unless they have funds.
They now QUALIFY for a loan they will now be able readily to pay. VOILA they can now resume life and like IRAQ, can RESUME economic activity as before (internationally) . Get It?
As a young practioner, I wanted my practice to GROW! A wise advisor showed me that if I doubled volume prior to placing thr infrastructure, ultimatetly, growth would cause failure
Pearle: fireball do you think they can get this done for the 1st half of the year
Fireball92: Pearle... IMF Said In the 1st half
AdminBill: LET ME POSE A QUESTION TO YOU. IF YOU WERE CONNECTED TO THE GCR/RV AND YOU WERE DESPERATELY TRYING TO LIMIT THE NUMBER OF CURRENCY OWNERS WHILE WORKING EQUALLY AS HARD TO CONVINCE OTHERS TO SELL, BURN OR OTHERWISE DISPOSE OF THE CURRENCY THEY HOLD. HOW WOULD YOU GO ABOUT IT?
Cowboy: Spread disinformtion and try to convince that RV/GCr are not real.
Maximus: GM everyone, To your question Adminbill the only logical solution would be an organized private exchange of groups like us first. I think for the rest who read every article and drink the koolaid and ride this crazy roller coaster, will get worn out. I also think most of the disinfo given to these Gurus by the PTB create confusion and eventually they lose their confidence and many will unfortunatly sell back there currency. JMO
MDinn: WE HAVE HEARD OF SO MANY CHANGES, FLUCTUATIONS OF INTEL, CONFUSING US IS PART OF THE PLAN, I BELIEVE..HOPE FOR THE BEST, PLAN ON IT BEING BETTER, AND BE SATISFIED WITH WHAT WE GET
Blondie: Hire xxxxx to do it
AdminnBill: BLONDIE - AND THAT IS EXACTLY WHAT I WOULD DO. PUT TOGETHER A TEAM OF PROFESSIONALS. IMO xxxxxx IS NOT A SINGLE PERSON.
Dune: Iko said yesterday may not be called a structured payout, some sort of annuity?
Sumpie: "structured payout" is a very generic term. Annuities (life or period certain) may be so described as well as certain deferred sales trusts.
Lami: IMHO-I think the idea of doing a structured payout is a perfect one, it will control the liquidity going out to populace,along with controlling inflation, while Projects may be developed.
Blackeyepa: What the confusion is, UST supposedly gave Wells the go-ahead months ago..also if China really controls Wells and China really wants this done then what's the hold up with the numbers??!
China supposedly controls Wells and HSBC..
Blessed2bablessing: BEP, last night it was said that WF had tried to push it through several times and it was stopped...so they were now going to keep trying every few minutes or so (sorry but I don't remember the timeframe exactly) until the agency blocking it relented
Blackeyepea: Yes we heard that was the BIS..but then we hear it's the ImF in which the Us supposedly still controls..soooo
Birdman: bep- bingo us still controls….maybe the us wants the banks to fail, to add more contorls over us, hint, digital currency….how else could the us convince us to use digtal cuurency, look what they did after 911, how many freedoms were taken from us based on our safety
Blackeyepea: Birdman!! Bingo!!
Hopeful: After hearing about China wanting this for so long, its begining to appear as if China can not make it happen. The US has control…..If the US has the control and many in power here do want any changes, how will it ever get to fruition?
Blackeyepea: That's how they are able to give us the rates..digital money…You may have a few greenbacks but everything else will be digital
Blackeyepea: Oh this is most def real..and the redemption centers are real..we just wait our invite. It should be in the mailbox
Sassy: guess it doesnt matter where the 800s are sitting , their no good to us till they hand them out
Cornerstone: BEP, like you, I don't understand. If China has control of WF, and China wants it to go, what are they waiting for? Release it!
Blckeyepea: Corner some have been in control of the mechanics. That's why they (China) sent some over..to see what the last minute glitches were all about.
Hopeful: BEP do have an idea of what/who then is holding it up?
Blackeyepea: Hopeful..it's not the banks..they are ready!
Lostnq8: since the banks are ready and the rest of the world is ready how can the US continue to hold this puppy up
Sassy: whatever 3 letter agency is holding this up, they cant keep it secret for ever.
Justmic: China to buy $90 billion gold vault in London
by Ivana Kottasova @ivanakottasova
China is buying one of London's biggest gold vaults.
The Chinese state-owned ICBC Standard Bank (IDCBF), the world's biggest bank by assets, has agreed to buy Barclays precious metals storage business, including its state-of-the-art storage facility in London.
The deal will boost China's access to London's gold market, and expand the country's role in the gold business.
The vault is in a secret location in London, and can store 2,000 tonnes of gold and other precious metals. At current prices, up to $90 billion worth of gold could be stored inside.
Barclays (BCLYF) has previously announced a move away from the precious metal business. The bank opened the facility in 2012.
The financial details of the sale were not released.
Don961: It's ultimately about people ... human beings .... who have human needs ..... a "political backlash" will be the least of the worries when the mass of hungry , angry people . who see their lifetimes of labor and savings going down the tubes ,with the stroke of a pen ........reach the breaking point ... then all the economic theories and policies in existence will mean nothing ....
IMO .... meeting basic human needs first ... is the heart of sound economic policy ...
Walkingstick: Make America Gold Again: Calls for Everyone's Favorite Standard Are Back
May 17, 2016 — 5:00 AM EDT
When times are tough, new economic theories get a better hearing. Maybe some old ones, too.
The gold standard is one of the oldest ideas about money, but the hardest of hard-money hawks sense an opening to breathe new life into it. Decades ago, the amount of cash circulating in a country was often limited by the stash of bullion held in its coffers. Especially since 2008, developed-world policy has headed in the exact opposite direction, expanding the powers of central banks to stoke growth. Helicopter drops of money, potentially the next new thing, would be a giant leap further.
For those in the U.S. who see much risk and little benefit in the current course, gold is still a rallying point. And their audience may be growing.
“The fringe has become the mainstream,” said Jesse Hurwitz, a U.S. economist at Barclays Capital in New York. He sees the gold standard as a bad idea but “something we’ll increasingly talk about.”
Of course, full restoration of the system that reigned in the U.S. for a century through the 1970s is almost inconceivable. Even many gold bugs say it can’t be done, and there’s near-unanimity among economists that it shouldn’t be attempted: the U.S. would be in much worse shape, they say, with a Federal Reserve stripped of its ability to freely tinker with the money supply.
But the backdrop to this well-rehearsed debate is changing. Rumbling discontent with the economy has left the establishment under siege, and you can’t get more establishment than the Fed. So, in a curious twist, it’s becoming easier for supporters of hard money -- historically a policy favored by the rich -- to give the idea a populist slant. The money conjured up by central bankers after the crisis, the argument goes, all went to bankers, leaving most Americans no better off. It’s time to tie the Fed’s hands, if not to gold, then at least to something.
“We don’t need to be a slave to history,” said George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute in Washington.
The gold standard is “like Humpty Dumpty,” he said, hard to put back together. But “we can think about having a monetary system that isn’t completely arbitrary, where it isn’t just a matter of discretion, people sitting in a room 13 times a year doing whatever.”
‘Hijacked by Bankers’
For a while, to the hard-money folks, the U.S. election season must have appeared full of promise.
The Fed was getting bashed from all sides. “It is unacceptable that the Federal Reserve has been hijacked by the very bankers it is in charge of regulating,” Democratic candidate Bernie Sanders said in a New York speech in January. Economists who support Sanders, like Nobel prizewinner Joe Stiglitz, see the Fed’s quantitative easing as a form of trickle-down economics that’s exacerbated inequality.
The proponents of gold or some other fixed monetary rule are more likely to be found in the Republican Party, and what they object to is the very idea of money creation by fiat, not just its distributional effect. Still, there’s some overlap.
Ted Cruz, in one of the early candidate debates last year, said the Fed “should get out of the business of trying to juice our economy and simply be focused on sound money and monetary stability, ideally tied to gold.”
Then there was Donald Trump. “We used to have a very, very solid country because it was based on a gold standard,” he told WMUR television in New Hampshire in March last year. But he said it would be tough to bring it back because “we don’t have the gold. Other places have the gold.”
In more recent interviews, the presumptive nominee sounds like he’s drifted toward a soft-money worldview. Last week, he drew attention to the U.S. government’s ability to print money. To the gold bugs, that’s a problem -- but Trump painted it as a potential solution.
Below the presidential level, though, the gold camp and its allies have gained support.
“There’s a growing constituency within the House Republican membership that a more rules-based approach or a gold standard would be advantageous,” said Hurwitz of Barclays.
‘It Was Horrific’
Not all Republicans welcome the development.
The gold standard “was awful. It was horrific,” said Tony Fratto, a former Treasury and White House official in the George W. Bush administration. “It led to some of the worst economic downturns and bouts of deflation in history.”
Fratto, now a managing partner at Hamilton Place Strategies LLC, a Washington-based consulting firm for financial companies, says monetary policy is “the least well-understood” of economic disciplines -- and that makes the central bank an easy target.
Those targeting it include the “Audit the Fed” movement led by Kentucky Senator Rand Paul, whose father Ron Paul has been a standard-bearer for gold. Trump and Sanders are among those who’ve endorsed the effort to scrutinize the central bank’s books.
For other critics, the goal is to impose new rules on the Fed. What would they look like?
Cato’s Selgin favors the ideas of a school known as market monetarists, who say the money supply should be adjusted according to a target for overall spending in the economy.
Another, better-known option is the Taylor Rule, which dictates interest-rate adjustments based on changes to inflation and output. The formula has fans in Congress. It’s surfaced in some of the multiple bills aimed at overhauling the Fed -- none of which have yet reached the floor of the House.
Bill Huizenga, a Michigan Republican and chairman of the House Financial Services subcommittee on monetary policy, sponsored one of them. He sees talk of a new gold standard as “more of an academic exercise than a real-world exercise,” but supports rules that would restrain the “games being played” by central banks worldwide.
George Gilder thinks gold-standard ideas are on the way back whatever the politicians do.
Founder and chairman of the Gilder Technology Group and a bestselling author who helped popularize supply-side economics in the Reagan era, he says the trillions of dollars that fly around global currency markets every day are a “bizarre abuse of capitalism,” sucking vitality out of the real economy.
Gilder sees hope in countries like China that are “oriented toward a gold valuation” -- the Chinese are unfairly maligned for manipulating their currency, he says, when what they wanted was to do the opposite and fix its value -- and in the rise of bitcoin, a digital version of gold.
Running through a lot of the gold talk is an apocalyptic strain. True believers think a crash is coming that will blow away the current consensus, leaving only their ideas standing.
Gilder sees a political backlash when negative interest rates start taking away people’s savings. Jim Rickards, chief global strategist at money manager West Shore Funds and author of “The New Case for Gold,” says the Fed and its peers have expanded their balance sheets to “the outer limit of confidence.”
Rickards helped negotiate the rescue of Long-Term Capital Management in the late 1990s and says it’s been downhill ever since. “In 1998, Wall Street bailed out a hedge fund. In 2008 the Fed bailed out Wall Street,” he said. “What’s going to happen in 2018? It’s going to be the IMF bailing out the central banks.”
He sees a chance of “close to 100 percent” that a downturn worse than the Great Recession is on the way in the next few years -- and then, “you’re going to be hearing a lot more about gold.”
VIDEO:The 'audit the Fed' movement is taking a big step forward in Congress this week
Jeff Cox | @JeffCoxCNBCcom
20 Hours AgoCNBC.com