Tag Archives: IMF

Plans for a global Dystopia, by Alasdair Macleod

The globalist financial powers intend to use what’s not working on a national level on a global scale. What could go wrong? An excellent article from Alasdair Macleod at goldmoney.com:

Global policy planners intend to deliver replacements for both dollar hegemony and fossil fuels. Plans may appear uncoordinated and in their early stages, but these issues are becoming increasingly linked.

A monetary reset incorporating state-sponsored cryptocurrencies will enable exchange controls to be introduced between nations by separating cross-border trade payments from domestic money circulation. The purpose will be to gain greater control over money and to direct its investment into green projects.

The OECD will build on current tax disclosures to make everyone’s income and capital known to governments and therefore readily taxable, money destined to kick-start economic growth. Under the guidance of supranational organisations, governments will redirect investment into green technology. The objective, particularly for Europeans, is to neutralise Russia’s increasing dominance of the global energy market by becoming carbon neutral by 2030.

But perhaps as Robert Burns put it, “the best-laid schemes o’ mice an’ men gang aft agley”. They are based on Keynesian fallacies, but cannot be ignored.

Introduction

There appear to be policy areas being driven by statist responses to events, encouraging global institutions to take on a coordinating role. It means deeper levels of centralised planning by unaccountable bureaucrats. Assuming their plans continue to gain credence, we could end up with a dystopian world where supranational bodies direct individual governments to conform. We are already on this road to perdition. The OECD has coordinated attempts by governments to restrict the freedom of their citizens to avoid taxes by forcing over a hundred jurisdictions to automatically supply information on the financial affairs of every citizen, irrespective of nationality and where they reside.

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Hidden Amongst the Furore: Synchronised Warnings From the BIS and the IMF, by Steven Guinness

The world is not paying enough attention to central bankers and it should be, according to Steven Guinness, who sounds a lot like Brandon Smith. From Guinness at stevenguinness2.wordpress.com:

It has become a disconcerting trend that as geopolitical events intensify and keep a majority of people engaged in the latest outbreak of political theatre, the words of central bankers fall on increasingly deaf ears.

At a seminar of the European Stability Mechanism this month, Bank for International Settlements General Manager Agustin Carstens delivered a speech called, ‘Shelter from the Storm‘.

The speech can be summarised as follows:

  • The IMF may not have enough resources to manage a future financial crisis
  • The post 2008 ‘recovery’ was nurtured by central banks
  • Central bank intervention has coincided with the increased accumulation of debt in both major and emerging economies
  • The challenge for central banks is to meet their inflation target
  • Governments must quickly implement ‘growth-friendly structural reforms’ as monetary policy is ‘normalised’

The latter bullet point refers to Basel III, the regulatory reforms that were devised through the BIS in response to the financial crisis triggered in 2008. The BIS have been pushing the line in recent communications that without these reforms being fully implemented by national administrations, the financial system will remain vulnerable to a renewed downturn. Full adoption of the reforms is not due to occur until 2022.

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IMF Reveals That Cryptocurrency Is The New World Order End Game, by Brandon Smith

Brandon Smith is probably right on this one. From Smith at alt-market.com:

There are two kinds of globalist schemes: First, there are the schemes they spring on the public out of nowhere haphazardly in the hopes that the speed of the event along with some shock and awe will confuse the masses and make them psychologically pliable. This strategy loses effectiveness quickly, though; the longer the plan takes to implement, the more time the people have to reconsider what is actually happening and why.

Second, there are schemes they slowly implant in the collective psyche of the citizenry over many years, much like subliminal messaging or hypnosis. This strategy is designed to make the public embrace certain destructive ideologies or ideas as if these ideas were their own.

The cryptocurrency scam is of the second variety.

I have been suspicious of the cryptocurrency narrative of a “decentralized and anonymous monetary revolution” since 2009, when I was first approached by people claiming to be “representatives” of bitcoin and asked to become a promoter of the technology. After posing a few very simple questions and receiving no satisfactory answers, I declined to join the bandwagon or act as a frontman.

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The World Is Quietly Decoupling From the U.S. – And No One Is Paying Attention, by Brandon Smith

The world is finding ways to get around the US’s currency and its payment mechanisms. From Brandon Smith at birchgold.com:

Blind faith in the U.S. dollar is perhaps one of the most crippling disabilities economists have in gauging our economic future. Historically speaking, fiat currencies are essentially animals with very short lives, and world reserve currencies are even more prone to an early death. But, for some reason, the notion that the dollar is vulnerable at all to the same fate is deemed ridiculous by the mainstream.

This delusion has also recently bled into parts of the alternative economic movement, with some analysts hoping that the Trump Administration will somehow reverse several decades of central bank sabotage in only four to eight years. However, this thinking requires a person to completely ignore the prevailing trend.

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Genocide of the Greek Nation, by Paul Craig Roberts

The Greek “rescue” was never about rescuing Greece, but rather rescuing Greece’s bank creditors. From Paul Craig Roberts at paulcraigroberts.org:

The political and media coverup of the genocide of the Greek Nation began yesterday (August 20) with European Union and other political statements announcing that the Greek Crisis is over. What they mean is that Greece is over, dead, and done with. It has been exploited to the limit, and the carcas has been thrown to the dogs.

350,000 Greeks, mainly the young and professionals, have fled dead Greece. The birth rate is far below the rate necessary to sustain the remaining population. The austerity imposed on the Greek people by the EU, the IMF, and the Greek government has resulted in the contraction of the Greek economy by 25%. The decline is the equivalent of America’s Great Depression, but in Greece the effects were worst. President Franklin D. Roosevelt softened the impact of massive unemployment with the Social Security Act other elements of a social safety net such as deposit insurance, and public works programs, whereas the Greek government following the orders from the IMF and EU worsened the impact of massive unemployment by stripping away the social safety net.

Traditionally, when a sovereign country, whether by corruption, mismanagement, bad luck, or unexpected events, found itself unable to repay its debts, the country’s creditors wrote down the debts to the level that the indebted country could service.

With Greece there was a game change. The European Central Bank, led by Jean-Claude Trichet, and the International Monetary Fund ruled that Greece had to pay the full amount of interest and principal on its government bonds held by German, Dutch, French, and Italian banks.

How was this to be achieved?

In two ways, both of which greatly worsened the crisis, leaving Greece today in a far worst position that it was in at the beginning of the crisis almost a decade ago.

At the beginning of the “crisis,” which would have easily been resolved by writing down part of the debt, the Greek debt was 129% of Greek Gross Domestic Product. Today Greek debt is 180% of GDP.

Why?

Greece was lent more money to pay interest to Greece’s creditors, so that they would not have to lose one cent. The additonal lending, called a “bailout” by the presstitute financial media, was not a bailout of Greece. It was a bailout of Greece’s creditors.

To continue reading: Genocide of the Greek Nation

US Dollar Hegemony Tripped Up by Chinese Renminbi? by Wolf Richter

The world’s central banks aren’t shedding their dollars for the Chinese currency just yet. From Wolf Richter at wolfstreet.com:

Um, no. Central banks not enthusiastic about the renminbi.

Global central banks are not dumping US-dollar-denominated assets from their foreign exchange reserves. They’re not dumping euro-denominated assets either. And they remain leery of the Chinese renminbi – despite China’s place as the second largest economy in the world and despite all the hoopla of turning the renminbi into a major global reserve currency.

This is clear from the IMF’s just released “Currency Composition of Official Foreign Exchange Reserves” (COFER) data for the first quarter 2018. The IMF is very stingy with what it discloses. The COFER data for each individual country – each country’s specific holdings of reserve currencies – is “strictly confidential.” But it does disclose the global allocation of each major currency.

In Q1 2018, total global foreign exchange reserves, including all currencies, rose 6.3% year-over-year, or by $878 billion, to $11.59 trillion, within the upper range of the past three years (from $10.7 trillion in Q4 2016 to $11.8 trillion in Q3, 2014). For reporting purposes, the IMF converts all currency balances into US dollars. This data was for Q1. The dollar bottomed out in the middle of the quarter and has since been rising.

US-dollar-denominated assets among foreign exchange reserves continued to dominate in Q1 at $6.5 trillion, or 62.5% of “allocated” reserves (more on this “allocated” in a moment).

Over the decades, there have been major efforts to undermine the dollar’s hegemony as a global reserve currency, which it has maintained since World War II. The creation of the euro was the most successful such effort. The plan was that the euro would eventually reach “parity” with the dollar on the hegemony scale. Before the euro, global exchange reserves included the individual currencies of today’s Eurozone members, particularly the Deutsche mark. After the euro came about, it replaced all those. And its share edged up for a while until the euro debt crisis spooked central banks and derailed those dreams.

And now there are efforts underway to elevate the Chinese renminbi to a global reserve currency. This became official on October 1, 2016, when the IMF added it to its currency basket, the Special Drawing Rights. But watching grass grow is breathtakingly exciting compared to watching the RMB gain status as a reserve currency.

To continue reading: US Dollar Hegemony Tripped Up by Chinese Renminbi?

The Economic End Game Continues, by Brandon Smith

Brandon Smith outlines his vision of what’s going to happen to the global financial system and economy. From Smith at alt-market.com:

In November of 2014 I published an article titled ‘The Economic End Game Explained’. In it I outlined what I believed would be the process by which globalists would achieve what they call the “new world order” or what they sometimes call the “global economic reset.” As I have shown in great detail in the past, the globalist agenda includes a fiscal end game; a prize or trophy that they hope to obtain. This prize is a completely centralized global economic structure, rooted in a single central bank for the world, the removal of the U.S. dollar as world reserve currency, the institution of the SDR basket system which will act as a bridge for single a global currency supplanting all others and, ultimately, global governance of this system by a mere handful of “elites.”

The timeline for this process is unclear, but there is some indication of when the “beginning of the end” would commence. As noted in the globalist owned magazine The Economist, in an article titled “Get Ready For The Phoenix,” the year of 2018 seems to be the launching point for the great reset. This timeline is supported by the numerous measures already taken to undermine dollar dominance in international trade as well as elevate the International Monetary Fund’s SDR basket. It is clear that the globalists have deadlines they intend to meet.

That said, there have been some new developments since I wrote my initial analysis on the end-game strategy that I think merit serious attention. The end game continues, faster than ever before, and here are some of the indicators showing that the “predictions” of the globalists at The Economist in 1988 were more like self-fulfilling prophecies and 2018 remains a primary nexus point for a re-engineering of our economic environment.

Using The East To Dismantle The Petrodollar

As I mentioned in last week’s article, ‘Lies And Distractions Surrounding The Petrodollar,’ there has been silence and often disinformation in the mainstream when it comes to the quite open and obvious international pivot away from the dollar as the defacto purchasing mechanism for oil. This trend is only set to accelerate in two months as China begins fulfilling oil contracts in the Yuan instead of the dollar.

To continue reading: The Economic End Game Continues