THOUGHTS ON “THE ENGINEERING OF GLOBAL PUBLIC GOODS”
Alaskaroots DECEMBER 28, 2014 AT 11:23 PM JC, It is my personal hope that the structure of the central banks will be changing to the tune that individual people may create funds the way that every bank has done in the past (and then lent it to the average Joe from there).
It seems there needs to be a way for people who understand that they are the thing which gives money it’s value, a practical way to access and create it.
I was without insurance from Dec 2013 to Aug 2014 and in June I had an ectopic pregnancy. This resulted in me losing half my blood, Fallopian tube rupturing and 24 hours in the hospital left me with bills of $42,000.
Since my husband and I made more than $38,000, we qualified for no assistance and now I have creditors breathing down my neck. There needs to be a solution for the middle class, even here in America.
Thinking about the wonderful things I could do for my family and community without the drag of this debt based system is what keeps me going… Krystal
Dripfood DECEMBER 29, 2014 AT 6:46 PM Hi Krystal, I’m sorry to hear you endured an ectopic pregnancy.
In my country every adult is obligated to pay a monthly fee of about $150 for medical insurance. Over the past 25 years I have paid about $45.000 without ever having visited a hospital ….and will probably pay double that amount in the next 25 years!
We keep the doctors and pharma employees well fed. That must surely must count for some karmic credits :-)
Alaskaroots DECEMBER 30, 2014 AT 9:49 AM Thank you dripfood. The only reason I share such a personal matter is to provide a real life example of how our healthcare system is fundamentally flawed here in the USA.
I WISH I could get decent insurance for $150/mo. And $45 would be a dream. The deductible would be sky high. We had done short term coverage in times past, but my husband ran into pre-exsisting condition issues, so we were taking a risk. Backfire. It doesn’t seem right that one misfortunate event can derail a hardworking family so fast…
Prior to that experience, I was ready to write off western medicine… Then I had a reality check that I would be dead without it.
Those doctors saved my life and now I am more accepting of a blending of east and west :) Maybe the NDE I had prior to the paramedics arriving gave me a clear view that there is no east/west… Just us, on earth, now.
Seems like the whole world is set up to protect/promote pharma, both legal and illegal. All roads lead to Rome, and then from there, Silk Road?
patriciasmith03 DECEMBER 29, 2014 AT 2:14 AM Could you please explain what you mean by “An argument can be made for the determination of “national” public goods, such as the RCMP here in Canada, or the FBI in America, and even the national banking sector as represented by each nations central bank.”
Do you think that they are part of the NPG or that they should not be included in that category? Your use of the word “determination” does not make it clear to me but it is a hot day here in New Zealand and I am a little confused! However I do so enjoy your blog site.
JC Collins DECEMBER 29, 2014 AT 2:53 AM National Public Goods is not the common terminology and I’m simply using it, making a determination, for the purpose of drawing attention to the direct line upward from local public goods, to national or regional public goods, and onward to global public goods.
This micro to macro is an important aspect of the multilateral implementation. Hope this clarifies things for you. It’s a very cold day here in Canada so perhaps I’m unable to articulate properly.
patriciasmith03 DECEMBER 29, 2014 AT 3:33 AM Thank you for that. One other question.
These SDRs. Let’s imagine the “great plan” has been achieved. How are the SDRs meant to work in the real world? While I can see why the US$ needs to be replaced by something for financial stability sake why SDRs?
I presume every country would keep its own currency and continue to trade with each other, when would the SDRs come into play? And how do they generate stability when the US$ couldn’t?
Are there going to be two currencies? One local and the SDRs for international trade?
Some countries might not be entitled to many SDRs so would that encourage regional groupings? Perhaps you have posted something on this and I have just not found it!
JC Collins DECEMBER 29, 2014 AT 3:53 AM There’s volumes of info posted here on those matters.
In brief, SDR bonds will increase global liquidity and stabilize the global monetary system by diversifying the foreign reserve accounts.
The USD, a single countries unit of account, has created imbalances in the international system by accumulating in vast amounts in the foreign reserve accounts.
The US itself needs to adjust these amounts so they can lesson their trade deficits. The SDR is structured around a basket of currencies, which offers the stability that a single currency, such as the USD, can not. At least that’s the plan.
And it’s important to contemplate that the SDR may not be the endgame, but a required step towards an actual global currency. For now, SDR bonds will be issued to increase liquidity but the money in your wallet will remain the same.
norman ball (@BallNormanD) DECEMBER 29, 2014 AT 3:11 AM Did I not post something up here or did it not make it?
JC Collins DECEMBER 29, 2014 AT 3:16 AM Haven’t seen it brother. Try again.
Cramley DECEMBER 29, 2014 AT 3:27 AM Some gold porn
Thswarrior DECEMBER 29, 2014 AT 3:54 AM According to JC, “The year 2015 will be one of transition.”
Translation for all humans who resist all efforts to change: Either hold on really tightly– or just let go and let God….
daniel grig (@gelingrig) DECEMBER 29, 2014 AT 11:19 AM About biens publics global vision is a reality within the RESET global economic, of the old system in March.
But on China macroeconomic figures for example, think that they are inflated by IMF are not real.
That is, economic growth is false if compared to the real life of the majority of Chinese who accompained in a State of poverty.
Do as China may lead the global economy when it has almost 700 million people living on less than 2 dollars a day?
This paper presents the economic situation of China, which reflects the real image, not the image “photoshop” coming from part of the PRO-BRICS and part of the IMF and Western institutions.
The two speak wonders of the Chinese economy that both one and the other is behind themselves masters of the private banking cartel.
norman ball (@BallNormanD) DECEMBER 29, 2014 AT 11:20 AM Congress’ failure to ratify the IMF reforms heightens uncertainty in the system.
The more contentiousness the transition, the greater role gold will play, either in percentage terms as a basket component or as some kind of ‘waiting in the wings’ alternative in the event of SDR market rejection.
The current currency war climate is creating ‘fiat anxiety’ the world over. Fresh paper will have to climb a heightened wall of worry. In all fiat regimes, gold is always there whispering doubt just off-stage.
This radical new paradigm (which is in essence a global debt restructuring plan via a series of currency re/devaluations) will have no small number of skeptics in all cases. Worst cases only serve to increase gold’s role.
Finally, to have the ‘most favored nation’ in the IMF structure pulling a North Korean ‘pariah state’ impersonation –at the 11th hour no less–gives credence to the very notion that it should be stripped of its parental/veto rights. The US is making the case for its own demise.
I’m not a goldbug. Nonetheless I’m surprised the gold brokers haven’t seized upon this IMF shtick since they need one after the last debacle with the Swiss referendum.
Let me add that there are arguments for gold holding its value even during a deflationary interlude. Deflation is the cessation of economic activity often born of fear and uncertainty (something we will have in spades during this transition).
So you could get a ‘flight to the real’ especially as this transition will deal a huge blow to financial assets. Uncertainty favors the barbarous relic.
Matt McBride (@MattMhmmcbride) DECEMBER 30, 2014 AT 6:26 AM Great points Norman. Thanks for contributing.
matt (@speedspirit42) DECEMBER 29, 2014 AT 4:33 PM “The Engineering of Global Public Goods” just means bankers and politicians want to take what belongs to the masses as a means to life sustaining gifts from the Universe and profit from it. We are recognized as stupid slaves by those with money and power.
Well the only way to get respect will be to get rid of those with money and power so all people are equal. And then the soil, the air, the water, the food, the energy of the sun, the natural beauty of nature and all knowledge of known truths can then be shared equally as Global Public Goods on a fair basis.
If the Governments of the World do not quickly figure this out and wish to have bankers profit from the next crisis then eventually the human race will become out of balance with so much profit at stake among souls who lost connection to the meaning of life.
As much as it is necessary for this growth from micro to macro on levels of finance and goods it needs to be done with the interest of the people not the bankers. As well as you explain this all JC the fact that this division of humanity exist and must become balanced for a future of hope.
By human nature the present balance is so against the “we the people” that either the Universe will intervene with natural disasters or a war of the people versus bankers and government will occur. This scenario is why logical people are stacking Gold and Silver and not for the hope of some SDR system.
Matt McBride (@MattMhmmcbride) DECEMBER 30, 2014 AT 6:37 AM Hi JC, Under an SDR system, do you see the majority of countries receiving their SDRs and either:
settling trade in SDRs (rather than an underlying basket currency) or investing any excess SDRs directly in SDR bonds rather than exchanging the SDRs for say USD and investing in UST?
If that is the case, what effects do you see happening to the USD vs SDR exchange rate, USD vs gold, USD vs CAD, and the bid for UST?
I would imagine gold would strengthen in USD, but not as much in AUD/CAD; USD would weaken generally against all currencies as demand drops (causing devaluations in USD denominated assets); UST will receive less liquidity as SDR bonds take a more centre stage.
So I guess in summary, there will be a shock wave as a result of USD denominated asset devaluations and their contagion effects; the SDR bonds will reliquefy the system; and the US standard of living will drop off significantly (where as Canada and Aus will remain largely unaffected in the next 10-20 years)?
tristero888 DECEMBER 31, 2014 AT 3:23 AM matt, what if USTs will be the BIS equivalent of what the USFED did with MBSs in the Great QEflation? exchange them all for SDR bonds and bury them in a black box, never to be seen again except by those with the super secret passcode?
the interest payments will continue of course (and most likely managed to maximum advantage just shy of system collapse), just like they do on the mortgages from which the MBSs are derived.
ever wonder who’s the ultimate recipient of all those monthly mortgage payments? could it be, the FED? if not, who else could it be? funny how no one even mentions any of this anymore, especially after all the foreclosure armegeddon fearmongering of 08-09.
burying skeletons has its advantages, especially in a society that suffers from terminal ADD.
tristero888 DECEMBER 31, 2014 AT 3:36 AM perhaps Public v. Private is another example of the False Dialectic and that the Commons is not a subset of the Public Sphere, but a Sphere all its own that intersects both, but is subservient to neither.
in fact, one could be so bold to propose that the Public Sphere exists only to serve C and that the Private Sphere can exist only if does not infringe upon C. Henry George thought as much.
shame that his writings aren’t discussed more often. actually, they’re not discussed at all, outside of a few crackpots here & there.
regardless, imho, it is/would be a grave error of judgement to lump air & water into the same category as the FBI and the banking sector. not surprising though.