Reader Comments On Renminbi & Alternative IMF Reforms Part 1
Reader Comments On Renminbi & Alternative IMF Reforms Part 2
Daneackerman NOVEMBER 14, 2014 AT 12:50 PM JC I have a question. Is gold based on the reserve currency which is now the $US?
If so, when this changes and gold is not based on the current world reserve currency ($US) and is based on a new world reserve currency perhaps a stronger reserve type currency like the SDR.
Wouldn’t it then take more $US to purchase gold and thus it could cause a false sense of a spike in gold value when in all actuality golds value didn’t change much at all?
JC Collins NOVEMBER 14, 2014 AT 2:06 PM The value of gold is denominated in USD. There is no peg between them. Though there is a relationship based on the broad usage of the USD as the primary reserve currency of the world.
Each currency is a unique perspective point based on exchange rates from which holders of that currency interact in the financial world.
The USD has been a perspective point for a large part of the world due to its status.
That will change when it is only one of many important currencies. How gold will look at that time is difficult to determine.
The larger trends are more visible than the smaller micro variations. At least I think so.
Daneackerman NOVEMBER 14, 2014 AT 2:59 PM Thanks
b.klausen NOVEMBER 14, 2014 AT 5:07 AM i think it foolish to assume that any of us can know with any certainty as to how this will all unfold. What we are given for analysis are the data and words of poker playing liars.
How can any of us be certain of the validity of statements / numbers released by criminal institutions like the BIS or IMF?It’s like believing the mafia when they fill out their income tax forms and taking their word that their numbers are honest and above board.
Rickards is a former CIA agent, while I have listened to what he ahs to say often and some of it lines up with my own take on things, every time I listen to him I think “he’s a spook”…
he’s trained in the art of espionage and deception. Rickards is the prime example of how you really can’t trust those official “experts” who are allowed to go on tv and radio and the internet.
The Fed, the IMF, the BIS, the PBoC, these are all poker players in a big casino game and they all have on hats and glasses to hide their facial tells and bluffs.
The debate going on in this thread and often on this site and elsewhere, is one in which many of us believe we know what’s truly going on and what’s going to happen.
If I’ve learned anything from paying attention to this geopolitical financial poker game is that there’s a lot of extra hidden aces up the different players’ sleeves and they are all dishonest players who won’t hesitate to throw a “friend” under the bus…
trying to predict the outcome of the game based off what information they release to us is quite difficult when the poker players are known bluffers and liars and are able to change the rules of the game whenever they see fit..
and you never know which players are working together against another and what alliances will hold and who will be pulling a knife out of their back when they are blindsided by someone they thought was an ally.
None of us are a part of the game, despite our life savings being on the table and invested in the movements of the players.
We are all spectators and subject to all the bluffs and misdirections the players put out there in an attempt to not only fool their fellow players but to mislead the masses and never truly reveal their hand.
Roger Parness NOVEMBER 14, 2014 AT 5:00 PM Yeah I like the poker analogy. We ARE part of the game but can barely ante up. Playing against bluffers and liars and killers. Rough table.
But what if the game were just about finished. The big players cleaned out by their own insatiable greed. Last hand.
They would try their damnedest to keep bluffing. Beg, borrow and steal to keep the only game they know going. They don’t reveal their hands because they have nothing.
We the People have the cards and require only the will to win. If evil is projected by our own deficiencies then overcome your deficiencies and watch the bullies scatter.
Stay the course. Keep stacking and remain optimistic. The arrests and positive change is coming.All in.
Michael MacDonald NOVEMBER 14, 2014 AT 5:45 PM Right on brother!
Danielbradford NOVEMBER 14, 2014 AT 8:05 PM Well said, Roger!
Steve Henningsen (@Stevephenni) NOVEMBER 15, 2014 AT 12:42 AM Rickards is not a former CIA agent. He’s an attorney/economist with Wall Street ties and has “worked” for the CIA and U.S. Military on a consultant basis.
Jeremy Moore NOVEMBER 14, 2014 AT 2:32 PM I have a few questions that , JC, you may choose to answer or not, as they are a bit more along the philosophical lines. First off, I admit to being merely an observer to all this “economic stuff”.
I understand it fairly well (due in large part to your writings-thanks for that), but it really pertains less and less to me personally. I don’t have much “wealth” in the form of currency to preserve.
i do have land, a good bit of it. I do have a home (that’s paid off), and I am capable of providing all the other requirements me and my family need if “the system” were to implode tomorrow (not implying myself to be some kind of prepper either).
What I can’t wrap my feeble mind around is why so many of us expend such an incredible amount of energy continuing to try to grasp this game (and most know it is indeed a game), and continue to try to play it? Why keep playing something you know to be rigged?
I see so many real thinkers present here, and yet the vast majority seem to be caught up in trying to preserve and illusion. Why not admit all those years of toil for crumbs were just that……and then move on without having another dictate a “new” game to you?
Why keep compiling PM’s when, no matter what kind of denomination they have next to their “value”, they still don’t provide you what the physical vehicle requires to function, and they still don’t equate to making your time/labor mean more than someone who wasn’t so informed or didn’t have the means to acquire them?
Forgive me if I seem naive or am over simplifying all this crap that I have so heavily invested my own time in trying to understand. You basically have a man in JC who is giving you his best attempt at honestly laying out the framework of an incredibly complex GAME which has a script that has been used over and over and over since Egypt had boy-king deities, and yet the majority continue to cling to the idea that “we have to play it” Why?
While I wholly appreciate the time and effort set forth by you, JC, and the many great commenters here to shed the proverbial light on all this BS, I see very few who seem willing to apply it to something other than a continuation of the same old scripted game where the end is ALWAYS the same;
“the majority loses” I know trends seem to point that it will continue because it is up to the people to decide to change themselves.
Well I am declaring myself as one of the above . I am willing to change. I am willing to quit the whole bloody game and ignore the lot of those who don’t.
I seek to be responsible for me and mine and seek to work with others like me to do the same on a larger scale. While there are still precious few in my relative proximity, that trend is changing, and so the steady drip becomes a trickle and so on.
Sorry for my always long-winded thoughts, but I just can’t seem to grasp why so many care so much about something, that those same “many” claim to know to be contrived.
It’s like we can’t accept we duped ourselves and that the only way to reset is to admit it first,forget the “oild way” all-together, and then take steps in a new and different direction.
Jeremy Moore NOVEMBER 14, 2014 AT 4:05 PM One last thing that took a little more thought on my part, and this is directed squarely at you, JC.
With this site you have accumulated a following, of sorts, of people who seem to be more or less, aligned in similar directions. Why not use that to initiate some kind of change away from the repetitious patterns of the old to manifest a new pattern?
I’m not saying your not providing something valuable, or that you’re not aware of much more than you let on (I suspect you are and then some), I just keep asking myself why you wouldn’t “take it up a notch”?
I am not asking you to provide me a solution, for I have already found one that works for me.
What I am asking is why you seem to focus so heavily on something you yourself seem to know where it will all lead? Why even acknowledge it considering you have already so thoroughly exposed it for what it really is?
I see little movements all around me rising (and some falling to the thugs of the state who attempt to intimidate them into submission), but they all lack a certain uniformity that is required to paint a truly different image.
I think that you, JC, may be an individual with the ability to help others manifest an image of the above stated sort and I keep wondering why you don’t (seem) to see it in yourself.
Maybe I’m assuming too much about you (something I’ve been guilty of more than once in my life), or maybe your ultimate goal has yet to be fully revealed considering just what is at stake here. I’m not “calling you out”, I’m wondering aloud….. Respectfully–Jeremy
chuc1997 NOVEMBER 14, 2014 AT 6:09 PM Does this legislation include the passage of the IMF reforms? Thx!
JC Collins NOVEMBER 14, 2014 AT 7:53 PM It doesn’t, but that’s one half of the expected outcome. Obama could hold of signing the bill until the IMF Reforms are passed. Lets keep a look out.
Should be an interesting end to the year. How immigration will play into this is unknown. The Democrats would love all those votes for the next presidential election.
Lets see if the Republicans will let them. Highly unlikely I would think. Politics don’t get any better than this.
Michael MacDonald NOVEMBER 14, 2014 AT 8:22 PM JC, you mentioned voting. Don’t you think that voting is a ruse to make people think they have a choice between the two (almost identical) parties? With electronic voting, its quite easy to tamper with. Look at the following video. https://www.youtube.com/watch?v=t4aKOhbbK9E
JC Collins NOVEMBER 14, 2014 AT 8:51 PM Sure, the system is set up to work against the masses, but there is still a process which takes place, that can’t be denied. Politicians are like the leaders in the ghetto. They can’t leave the ghetto but they can manipulate things within the ghetto, and often benefit from the labors of others within the ghetto.
Dripfood NOVEMBER 14, 2014 AT 8:04 PM The price of wisdom is going through the roof as we speak! If we’re quick we can hoard an ounce or two.
Now my spooky neighbour told me about an underground stash of secret wisdom that came from an eastern emperor who went mad after falling in love with gold and orgasms. It is only mildly contaminated with love, so the risk is negliciable. I think I am going all in while it’s still denominated in marbles..
…If only I could get rid of the static hedge around my subconscious….
Michael MacDonald NOVEMBER 14, 2014 AT 9:02 PM Edgar Mitchell, Simon Parkes, Alfred Webre, JD, Tolec – Impact of Open ET Contact
Nevenmeic NOVEMBER 14, 2014 AT 10:09 PM 人 rén, people; 民 mín , nationality; citizen 币 bì ,
Cramley NOVEMBER 14, 2014 AT 10:46 PM Holy crap! Jaime Caruana must be my doppelganger. Did you hear that boy talk about a debt trap?
Bill Reeves NOVEMBER 14, 2014 AT 11:20 PM Article I came across it is very interesting. Bank deposits will soon no longer be considered money but paper investments
This weekend the G20 nations will convene in Brisbane, Australia to conclude a week of Asian festivities that began in Beijing for the developed countries and major economies.
And on Sunday, the biggest deal of the week will be made as the G20 will formally announce new banking rules that are expected to send shock waves to anyone holding a checking, savings, or money market account in a financial institution.
On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial banking crisis occurs.
Additionally, all member nations of the G20 will immediately submit and pass legislation that will fulfill this program, creating a new paradigm where banks no longer recognize your deposits as money, but as liabilities and securitized capital owned and controlled by the bank or institution.
In essence, the Cyprus template of 2011 will be fully implemented in every major economy, and place bank depositors as the primary instrument of the next bailouts when the next crisis occurs.
On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure.
With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is.
If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits?
If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a “bank run.”
Each country will introduce its own legislation to effect the ‘ bail-in’ agreed by the G20 this coming weekend.
Large deposits at banks are no longer money, as this legislation will formally push them down through the capital structure to a position of material capital risk in any “failing” institution.
In our last financial crisis, deposits were de facto guaranteed by the state, but from November 16th holders of large-scale deposits will be, both de facto and de jure, just another creditor squabbling over their share of the assets of a failed bank. – Zerohedge
For most Americans with savings or checking accounts in federally insured banks, normal FDIC rules on deposit insurance are still in play, but anyone with over $250,000 in any one account, or held offshore, will have their money automatically subject to bankruptcy dispursements from the courts based on a much lower rank of priority, and a much lower percentage of return.
This also includes business accounts, money market accounts, and any depository investments such as a certificate of deposit (CD).
What makes this sudden push to securitize cash held as bank deposits is the pending question of whether the central banks or sovereign governments know that a crisis is forthcoming, especially in light of Europe’s rapid decline into recession, and Japan’s need to monetize their entire budget through central bank easing?
Just as people thought the ownership of gold and silver was inviolate prior to 1933 when the government ordered it confiscated to bailout the banks and Federal Reserve during the Great Depression, we are all now faced with the realization that the money we thought was our own, and protected in our checking and savings accounts no longer is.
And after Sunday at the G20 meeting, the risks of holding any cash in a bank or financial institution will have to be weighed as heavily and with as much determination of risk as if you were holding a stock or municipal bond, which could decline in an instant should the financial environment bring a crisis even remotely similar to that of 2008.
Russia prepares to challenge dollar by creating alternative SWIFT system in 2015
China moves in on U.S. with currency swap and non-dollar trade with Canada
Russia to make increasing the Yuan’s use in global trade a key economic policy
Fed using banks to short gold and silver to protect dollar from effects of QE
Fed Chairman Yellen goes to Europe and tells ECB to crank up money printing
b.klausen NOVEMBER 14, 2014 AT 11:29 PM as for Mike’s comments about voting, Mark Twain said it best: “If voting made any difference they wouldn’t let us do it.”
interesting article from Jim Willie:
” A death blow might soon come from Shanghai, where in pursuit of an equilibrium based gold market, the Chinese are indicating a doubled Gold price and tripled Silver price. ”
“The new BRICS gold & silver backed currency is at an advance stage in the design rooms, soon to see actual implementation. The Gold Standard is to be re-installed, euphemistically called the Currency Reset. History is on the verge of being made.”
b.klausen NOVEMBER 14, 2014 AT 11:39 PM another interesting quote from the WIllie article, which goes back to my comment about analyzing data from notorious liars:
“The USFed is again proved liars, as QE continues from a foreign outpost (outhouse).
They lied by promising 0% (ZIRP) as lasting only six to nine months.
They lied by promising QE bond monetization would be temporary, a one-time event.
They lied as to what Operation Twist was, when China dumped all long-term USTreasurys in favor of quickly expiring short-term USTreasurys.
They lied on Taper Talk last year, for reduced volume of bond purchases.
They lied on usage of QE funds to purchase the major US Stocks using the S&P500 index.
They lied on Interest Rate Swap dependence, the London Whale incident having exposed JPMorguen as losers.
They lied in the nationalization of AIG, so as to rescue Goldman Sachs after killing rival Lehman Brothers.
They have lied every single month on QE bond volumes, far more than double the officially stated volume.
They have lied every single month on the black hole under the rug, since QE covers ruptured hidden derivative losses. They might be in the $trillions.”
Roger Parness NOVEMBER 14, 2014 AT 11:43 PM
…..were the marbles to be lost, perhaps the hedge will be trimmed. Stasis be ****.
The view thereby splendid and gloriously contaminated.