READER THOUGHTS ON “IMF AND G20 MOVING FORWARD ON PLAN B”
Matt McBride (@MattMhmmcbride) DECEMBER 12, 2014 AT 8:46 PM China first out of the blocks…”deeply disappointed”
chuc1997 DECEMBER 12, 2014 AT 8:50 PM Thank you JC.
Jack Jackson (@hugovictor54) DECEMBER 12, 2014 AT 9:01 PM Dear J.C.: In 2004, a tsunami hit Indonesia killing an estimated 150,000 people. Before the wave struck the coastline, the sea was sucked away from the shore.
People there stood in amazement seemingly wondering as to what they were witnessing all before being struck by a wave that sweep them away. J.C., are we watching the sea being sucked away before we are struck by a great wave? Pdog
JC Collins DECEMBER 12, 2014 AT 10:00 PM That is probably a reasonable analogy Jack.
Jack Jackson (@hugovictor54) DECEMBER 12, 2014 AT 10:15 PM I was afraid that you might say that.
Dripfood DECEMBER 13, 2014 AT 11:55 AM A sea of liquidity?
Toknowyourenemy DECEMBER 12, 2014 AT 9:21 PM Yeah, what he said………
chuc1997 DECEMBER 12, 2014 AT 9:29 PM While Congress didn’t pass the IMF reforms, they DID pass what appear to be preparations in advance of draconian IMF reforms – allowing pensions to cut benefits to active retirees, making depositors general creditors of banks along with $300T of derivatives…and last year, the US gov’t pass legislation pushing the cost of healthcare onto its citizens (Obamacare.)
A Cypriot weekend coming? If so, check out the value of IMF loans Cyprus got for its 10 tons of gold, or the value of IMF loans Ukraine got for its 40 tons of gold…
Safety Fishnet (@SafetyFishnet) DECEMBER 12, 2014 AT 10:01 PM Sooo, volatility and manic swings on the way. By the way, Austria is the latest country to consider gold repatriation, the circus is approaching the end. I’m curious though, to what extent gold will play a role in the upcoming SDR composition.
Roger Parness DECEMBER 12, 2014 AT 10:26 PM I thought she was gong to belly dance?
I also thought she was fired. Really the pretense of disappointment for a carefully worked out plan coming to full fruition is sickening lXXXXXXXXX XXXXX XXXX XXXX XXXX
Time for the pitchforks and torches brothers.
Dripfood DECEMBER 13, 2014 AT 12:12 PM Hey Roger, pitchforks and torches are stone age weapons. You better go for the particle beam weapons, harmonic disruptors and mind zap equipment ;-)
Daneackerman DECEMBER 12, 2014 AT 10:33 PM But what if the Senate doesn’t pass the bill? Of course it’s expected to but what if it doesnt? If the bill is changed would it have to go back to the house again?
Daneackerman DECEMBER 14, 2014 AT 1:03 PM Okay so if changes would have been made at the senate then the bill would have gone back to the house.
But that won’t be necessary because as expected the senate passed the bill.
Wonder whats in store for Homeland Security which is only funded through February on this bill?
Mnvapa DECEMBER 12, 2014 AT 11:17 PM Love reading your posts JC. I feel like you’re the only one talking about this so thank you for writing about it. Very informative.
Roger Parness DECEMBER 12, 2014 AT 11:38 PM Maybe some sort of spiritual guillotine?!? In the holiday spirit of course. Off with their heads and their soulless selves can proceed to galactic central for processing and reprogramming. Then we can pile the heads of state for needed infrastructure repair and maybe a nice pork soup. Bless the little psychopaths one and all.
Olu Mose DECEMBER 13, 2014 AT 1:23 AM IMF-Cane vs IMF-Carrot — Wow!!! This plan B is sure gonna sting crazier than a BEE!
Olu Mose DECEMBER 13, 2014 AT 1:30 AM IMO-SMH True – money is a precipitate of the barter system whose weakness lies in the double coincidence of want. In today’s world, the real value of money lies in Gold, Silver, and other solid soft and hard assets.
At the macro level stucture, true money is not FIAT, it is soon to be expressed in the volume of the FIAT backed by gold. Soon enough, we shall be talking SDR and SDRM.
But I must confess that the Fed is doing a fantastic job at keep interest rate at 0% — but for how long, and will it ever change? If Japan is stuck in the process, how are we so sure we will get lucky.
And with China leading the campaign of CURRENCY SWAP and CURRENCY WARS, with Russian as allies, Canada and Australia as buddies, the Middle Easterns (Qatar…) following, and Saudi Arabia about to wake up to reality, then and then shall we all see that the real money can be defined in terms of oil and not just FIAT that can easily print us all into grand state of INFLATION.
Matt McBride (@MattMhmmcbride) DECEMBER 13, 2014 AT 3:39 AM From the Ministry of Foreign Affairs of the People’s Republic of China – 2014/12/12
Q: The International Monetary Fund (IMF) will begin weighing options in January for a new set of crucial governance and funding reforms after the US Congress again refused to ratify the IMF 2010 governance and funding reform plan. What is China’s comment on that?
A: China is deeply disappointed that the US Congress again failed to endorse the 2010 quota and governance reform plan in the budget bill.
To implement the 2010 reform plan is of utmost importance to preserve the credibility, effectiveness and legitimacy of the IMF. Therefore, China will continue to urge the US to ratify the plan as soon as possible.
In accordance with the decision of the International Monetary and Financial Committee and the commitment made on the G20 Brisbane Leaders’ Summit, China calls on all parties to participate in the discussions actively on the plan to improve the IMF’s quota and governance structure.
China is willing to play a constructive role to ensure that pending the final entry into force of the 2010 reform plan, emerging markets and developing countries can enjoy a larger quota and a greater say.
cramley DECEMBER 13, 2014 AT 3:58 AM Stumbled across this very interesting take….
Hmmm. Bureaucratic cover. But what Susan misses is the indirect exchange. China does have a way out. That’s why all this gold bullion and shares in mining operations are being vacuumed up.
This also explains the tepid enthusiasm exhibited by China for the SDR. It’s not the real agenda. It’s misdirection to keep attention off what’s really being set up. A gold settlement system.
wa1marktng DECEMBER 13, 2014 AT 6:17 AM Some excellent articles JC. I think I can recommend a book to your readers, that I edited/added to, called “The Coming Battle”. It follows the banksters shenanigans from the 1770s to 2013.: http://www.scribd.com/doc/231404161/The-Coming-Battle-2013
A later edition is being worked on which will give more suggestions for protecting ourselves from the great reset. W. I also write on similar matters at:
Bruno de Landevoisin DECEMBER 13, 2014 AT 7:15 AM Congress failed to pass the said IMF reforms, but they were sure quick to pass a $600 billion annual military budget. Maybe the plan is to bomb the world’s monetary system into submission. Certainly seems to be what we have set out to do lately…………….
First we had the honorable Gold backed Dollar
Then we had the strategic Petro backed Dollar
Now we have the despicable Bomb backed Dollar
Matt McBride (@MattMhmmcbride) DECEMBER 14, 2014 AT 12:46 AM Jim Rickards has put forward some interesting calculations: $9T in emerging market debt + $5.4T energy market debt = $14.4T
A 20% mark-down (due to oil price and strong dollar) = $2.9T in losses = 2x subprime losses in 2007
Below is the link to Christina Lagarde’s 2014 New Year’s speech
Despite her lip service and poor economic outlook regarding the growth of Europe and Japan, the key points to take are:
1. The US as the worlds largest economy, and the IMF’s largest shareholder, needs to take responsibility and approve the 2010 Reforms. The IMF is not just about advanced economies, their key purpose is global stability, particularly seeing the emerging economies represented 85% of world growth post the 2008 crisis. Growth that benefited the US.
2. The FEDs tapering has the potential to effect these growth driving emerging and developing economies.
3. If the tapering causes a likely correction, Monetary policy is a greater priority than stock market losses (and their effects)
It seems to me, that a probable occurrence will be:
-The growth driving emerging markets experience serious troubles in the next few weeks (as a result of the oil price shock) putting the strength of the global market into question
-The IMF in its current financial state is called upon to rescue a number of such economies, but due to funding constraints cannot meet the demand
-The IMF executive board inc Jacob Lew (in this dire circumstance) have “no other option” than to quickly enact Plan B. This will involve:
*Doubling the quota (as per the 2010 Reforms)
*Doubling the quota again at the 15th general review of quotas in January 2015
-If the US will not support such measures “put up or shut up”, their vote will be reduced to a quarter of the current 17.4%. This would effectively remove the US veto, and allow the emerging markets of China and the BRICS nations to significantly increase their shareholding.
The Lagarde 2015 New Years speech in January will be a must watch!
Ozymandias 3 DECEMBER 14, 2014 AT 2:26 PM I have watched and listened carefully the witch’s code talk several times and was slightly a taken back at the beginning of 2014 the first time that I viewed the warning by the blaringly obvious occultism in her code talk to the novices, initiates, coconspirators, and jackals in the intended audience.
Her speech was and is additional proof positive of the contrived and nefarious plans by the “evil powers that should NOT be” to control, manipulate, destroy the economies of the USA and Europe to facilitate their visions of the NWO.
Her opening remarks by which she clearly stated that she is “doing what she was told to do” informs the witnesses of her warnings that she is a as much a facilitating puppet of the evil Shylock Banksters, Fraternitas Saturni, and the Luciferian Brotherhood as barry soetoro.
Daneackerman DECEMBER 14, 2014 AT 12:46 AM “Oil freefall gives Dow worst week since 2011″
“More than $1.2 trillion was erased from global equities over the five days, as the drop in crude below $58 a barrel raised concern over the strength of the global economy.”
cramley DECEMBER 14, 2014 AT 1:14 PM
Read through the second link several times. The inclusion of the RMB into the SDR is a distraction. Do you see where this headed? How will China get away with degree of control of onshore v. offshore currency? I think that’s where massive accumulation of gold fits in. The IMF will be irrelevant.
This should really give the Freegold crowd the shivers.
chuc1997 DECEMBER 14, 2014 AT 5:49 PM
Greenspan has talked about gold in CFR meetings and magazines lately; NYT had a gold article last week and FT had an article about China dumping UST’s last Sunday…seems as if the media support has already started
Cramley DECEMBER 14, 2014 AT 7:53 PM
“The three new zones will be established in the southern and eastern provinces of Guangdong and Fujian and in the northern port city of Tianjin, China’s State Council said in a statement…Guangdong zone in southern China is expected to include Hong Kong and Macau,…”
The great rebalancing is kicking it up a gear. As referenced in the above links, China wants to move up the value chain. The next link points out the movement: “FROM “MADE IN CHINA” TO “MADE FOR CHINA”.
“China’s outbound direct investment (ODI) is expected to outpace foreign direct investment (FDI) for the first time ever this year.” Crimeny’s sake, wait til the yuan and gold are revalued upward. Where’s Madge when you need her? It’s going to be a RMB world, not a SDR world.
JC Collins DECEMBER 14, 2014 AT 8:57 PM Then please explain why China is demanding IMF Reform and are openly internationalizing the RMB for inclusion into the SDR basket?
And please don’t say some nonsense like its a distraction. Only a small handful of people even follow this, so it would be a pathetic distraction.
The RMB is increasing in importance, but not to take over as the singular reserve currency. No country wants that responsibility anymore, as openly stated by China and the rest.
Your storyline does not fit any of the facts or published information. You source links and twist the information to fit your storyline.
I present the factual and straight forward statements and plans of the institutions and banks themselves. You would get more traction with your storyline on some conspiracy site. I suggest you go there.
Matt McBride (@MattMhmmcbride) DECEMBER 14, 2014 AT 10:31 PM The Emerging and Developing Economies are moving rapidly toward crisis.
EM debt counter party insurance has been bought heavily and quietly behind the scenes since the October 15 lows.
Credit spreads vs stocks have been diverging.
There is no way sovereign CB’s of the advanced economies have the ammo to support the imploding EM CB’s.
China has been happily supporting the likes of Venezuela since the GFC…however, no more.
Ask the Chinese for a fast-cash infusion. Venezuela’s Foreign Minister, Rafael Ramirez, has already made the rounds to China and Russia hat in hand. China already holds over $45 billion in Venezuelan debt–to be paid back in cheap oil–and is unlikely to dig as deeply in its pockets as Venezuela needs.
And after 14 years of courting rogue regimes and leaders like Vladimir Putin’s in Russia and former president Mahmud Ahmadinejad’s in Iran, all of the so-called friends of Venezuela are themselves in equally dire straits with in both cases sanctions taking a bite alongside plunging oil prices.
The IMF is the only realistic option.
JC Collins DECEMBER 15, 2014 AT 4:48 AM Thanks for all the info you’re helping provide Matt. Many hands make for light work.
Jack Jackson (@hugovictor54) DECEMBER 14, 2014 AT 10:36 PM Dear J.C.:
I have two brothers, but would trust you as a third. Stay strong, its seem that we have a long way to go.
Godspeed pdog Did I tell you that I had been a roughneck?
JC Collins DECEMBER 15, 2014 AT 4:45 AM Yes sir,you had previously mentioned it. And thank you for your support and encouragement. I am humbled.
Chris Peters DECEMBER 16, 2014 AT 2:05 AM I’m glad I stumbled onto this blog. Quite fascinating discussions of events that seem almost designed to confuse and mislead the public. You’re doing good work at cutting through all the layers of indirection, J.C.
So plan B it is but that still leaves many questions unanswered. I’d start by questioning your statement of “blatant disregard toward the US treasury and executive” by Congress.
To the contrary the evidence available through the press suggests the Obama administration did not lift a finger (nor did Treasury) to fight to include the IMF reforms in the funding bill passed over the weekend.
To the contrary, they expended tremendous energy to make sure that an obscure provision benefitting the big banks profits remained in the bill, despite heroic efforts by Elizabeth Warren and a few others to remove it.
But I never heard one administration official propose a rider to include IMF quota legislation.
This contrasts with the March 2014 funding bill, when there was an effort by Treasury and Executive branch to include the IMF reforms.
So what changed? It would be easy to say “the fix was in.”
The idea that China is behind it seems plausible, but I still have a hard time reconciling this.
Also there was a story out that one of the two US House reps who changed his vote to allow the rule to pass last week (and save the bill) was actually lied to by his own leadership. He was promised that the “CRomnibus” would be pulled in return for voting yes on the rule.
I don’t recall that level of deception and outright skullduggery being used even by Boehner or Pelosi against the other party, let alone one of their own members.
I can only conclude then that there is a level of desperation on the part of the banks that may be much larger than even we imagine.
It fits the general scenario of a manufactured liquidity event on the horizon, with the goal of preparing the public to accept dramatic changes in the global financial system.
But we just don’t know how this is going to play out yet. The only thing I’m confident in is that the level of corruption and fraud across all layers of government has never been higher.