THOUGHTS ON “HAS THE US LOST ITS ROLE AS THE UNDERWRITER OF THE ECONOMIC SYSTEM?”
Dottie Derewicz Honestly, as I have said before, I just don’t understand how the US plans on fighting the entire world who is favor of this new monetary system and the acceptance of China and BRICS as part of the IMF structure.
I always knew they would not go down without a fight, but I just am not understanding how they think they have leverage in this fight.They are much like the bully in high school..at some point someone bigger comes along and kicks your butt.
I do try to follow Middelkoop as much as I can, when it comes out in English
Dottie Derewicz i am watching closely the South China Sea.. I can’t imagine that the neocons would just turn their heads on this one.
Dane Excellent essay Willem. Its amazing how you and JC’s perspectives are so closely aligned in this area. Its truly a pleasure to learn, thank you both.
Dane “House Passes Fast-Track Trade Bill” -- “Bill clears house in 218-208 vote; Senate outcome uncertain due to Democratic opposition”
H.R. 1314 Trade Act of 2015
Is there a possibility that this bill in some abstract way gives president Obama the power to pass the 2010 IMF reforms also?
Or is plan A no longer plausible? There seems to be a lot of time and labor being invested into plan B.
Dottie Derewicz Dane, does this vote include TPA and TAA in the same bill? I know the last time it was in two separate bills..which caused a lot of the issues they faced. The democrats led by Pelosi pushed back against TAA because which led to to neither passing, because they could not have one without the other.
Dane Hello Dottie. I believe it may. “The president has asked Congress to give him and his successor authority for up to six years to negotiate trade agreements under fast-track rules that would deprive Congress of its right to introduce amendments.”
The move seems to play into the cry of society though. “Congress and lobbyists are worst, ethics poll shows”.
The uncertain part is who will sit as president next term and the term after that and what their paths will be. This fast-track rule is for six years so that would finish up Obama’s tour, the next president’s 4 year stent and then the first year of the following president. Thats a lot of area to fully understand at this point.
But whats curious is if China delayed the passing of the 2010 reforms by dumping money into congress through the Koch brothers it makes me wonder who would want to do the opposite and divert congress now?
Thanks for this tweet JC. Great article and are you sure he’s not following already? Because like you said he does give an excellent overview of the POM thesis:) Thumbs up to you sir.
Safenet U.S will be surely transferring its dominance to a supranational body but these City guys look more determined to take down Putin before next year’s elections. Highly influential Chatham House think-tank or Royal Institute of Institutional Affairs as better known and precuresor to CFR, recently published a report named “Russian Challenge”
which coincides with the highly political FIFA rulings which may see Russia lose its right to host 2018 World Cup, very humiliating for Putin and his close circle. To make matters worse, Belgium and France today initiated Russian state asset freezes in their countries.
At this point, one can’t stop asking will they go far to target Gazprom as they try every possible provocation method. It is also well known new EU laws describes Gazprom as a monopoly and suggests it should be broken up into production and transmission companies.
Dottie Derewicz Russia was from what I understand one of the conversations at Bilderberg this year Safenet.. Of course it was last year as well. I read the story on Belgium and France as well today.
Dottie Derewicz I am also keeping an eye on Greece. Everyone keeps looking for the Grexit and I am looking for what gets discussed between Russia and Greece other than pipelines.:)
Safenet On the other hand, two other articles by the same Chatham House about Chinese RMB welcoming the idea of inclusion of the currency in the new SDR basket and City of London’s need for timing it right to market RMB products,
which has been discussed here lately both by J.C and us participants : gradual capital account liberalization to avert too quick appreciation. The article also notes that RMB is used for %14 of total Chinese trade.
Dottie Derewicz TPA was voted on without TAA..so they are little doubtful about how this is going to work and Obama says he will not sign anything without TAA.
Dane I’m still split on it. I see the good it can be but also the tragedy it can become.
Safenet Dottie, you probably know that Greece just agreed a gas deal with Russia to extend gas to Europe from Turkey. (http://money.cnn.com/2015/06/19/news/greece-russia-gas-deal/) That explains some of the recent attacks on Russia.
On the other hand, Greece is trying to position itself as an energy and touristic hub in the region to get itself outside its current economic disaster.
The current summit at St.Petersburg, Russia which is also attended by the Greek President as well, will likely lead to a BRICS liquidity provision to Greece that J.C first penned a few months ago.
Dottie Derewicz Boehner tried to be slick and presented the bills separate. Kind of strange at that. In the senate the TPA and TAA was presented together. Then in the house they were presented separate. Democrats decided the best way to defeat TPA was to vote against TAA, since they are against TPA.
It turned out that TPA passed, but TAA failed, as this was the plan for Nancy Pelosi and the dems.
Now TPA has to go to the senate and be voted on again and then they have to figure out how to get TAA passed, because without it there is no TPA, because Obama has said, no TAA, no TPA. He can still negotiate TPP, but he doesn’t have the same leverage in negotiating as he would had these passed.
And yes there is good in what I have been able to read, but since we are not privy to the actual bill, which is from what I hear thousands of pages long..we really have no real idea exactly what is in it.
And with the legalize throughout it, even if we were able to read it, it would be confusing to the average American as it is even confusing to many of the lawyers in congress. I do know some legalize as I studied law in some degree, but this kind of bill is not something you could read and understand in one day or one week..and most of the time that is what they are hoping.
Words are everything in a legal document, but many times they can be interchangeable so that meanings can be changed as well. So much like people who try to interpret the bible..many can come out with different interpretations or at least in my studies that is what I have found.
It will be ambiguous you can bet on that. And Dane it is created by corporations so that of course would make it a bit biased..:)