Reader Comments & Thoughts On “REVERSING BRETTON WOODS” Part 2
JC Collins JANUARY 8, 2015 AT 2:28 PM First of, I use the term pal when referencing many people, taking offence of my use of that term is disproportionate to the interaction you and I have had on this site, such as me posting and promoting your paper on the clock tower.
Secondly, what is improbable is the storyline you developed which is based on your interpretation of my thesis, not dark pool liquidity. As you stated:
“Your thesis in my opinion revolves around the world ‘elite’ consensus that chaos is undesirable, but time and time again, throughout history we see that National pride and security, when threatened by this same destructive force, is more willing than not to project chaos externally rather than bend over and accept it domestically; I see this as the dominant force still at play today rather than any submission to Western Finance built on a fear of war; this is in contradistinction to your thesis. The Russian mind does not work this way, where fear overrules Nationhood, and thank God it doesn’t.”
My thesis is that the multilateral framework is being constructed from the mechanics of the old dollar unipolar system, and the Hegelian dialectic is being used to implement each component.
JC Collins Continues: Your reference to “western finance” does not take into account the integration of eastern finance and western finance, as visible in the structures of the BIS itself, as well as the IMF and the G20, among other global institutions and think tanks, along with national treasuries and central banks.
I appreciate the link, and if you’ve sent it before, I apologize, I receive hundreds of messages with links to all sorts of unsubstantiated articles and official articles which are interpreted and twisted specific ways to fit the commenters own theory.
Nowhere in the article you provided does it suggest or hint that the systems are incompatible. It could also strongly suggest that the UK is holding back accepting the euro in clearing because the ultimate goal is to clear in SDR, as would be the case with the multilateral.
Dark pool liquidity is real, of course, that is not what I was referencing as improbable. I would recommend readers to gather the facts on such liquidity, as opposed to interpretations. See this link:
I have no issue with alternative theories, but when they completely ignore the facts and available information, from all countries including the eastern ones, I tend to be dismissive.
The membership of central banks in the BIS system, including Russia’s and China’s, and when those specific countries are calling for reforms of the existing financial institutions, such as the IMF, and demanding that the multilateral system be implemented, it’s hard to accept theories, whether conspiracy based or not, which suggest otherwise.
I detest this type of argumentative bantering, especially when my own thesis is not being represented correctly, and the counter thesis is ignoring massive amounts of, and very available documentation, which supports the others thesis.
Nothing in your original comment has offered any substantial proof that Russia, China, Europe, or any other country or region, is working against the USD system on the framework of the multilateral system.
But it does suggest there exists flex in the system and private and sovereign interests are building and implementing strategies to increase their own weight in the multilateral system.
National and isolationist policies are not going to work in the new methodology, and that goes for the UK, or City of London if you will, as much as it goes for Washington or China, or Russia.
aamichael666 JANUARY 8, 2015 AT 5:08 AM CORRECTION: When I said ” there is a reason that the DTCC which has a monopoly over the clearance of ALL USD Derivatives created and traded for the US is *domiciled in the City of London* and NOT New York City”… I
meant the Derivatives Arm of the DTCC is domiciled in London, which manages ‘Legal Ownership’ of well over one quadrillion in USD denominated derivatives.
God only knows how much the City bankers make in fees off of a market this big, which dwarfs all other markets on planet ponzi (known as Earth).
Holders of Derivatives are also first to be paid out in a bankruptcy since the last G20 in Brisbane Australia, so we all need to ‘Hail the City’, the undisputed champion of thermal implosion, where all fiat returns to it’s mother at some point; BoE is the archetype of all paper whores after all :P
Steve Henningsen (@Stevephenni) JANUARY 7, 2015 AT 5:57 AM Breadcrumb alert