The bedrock of the global monetary system continues to shift, including two profound pieces of news over the last 24 hours that no one seems to have noticed.
The sooner that our idiot politicians and the faux business people who have wormed their way into positions of influence are forced to file bankruptcy and swept into the dustbin of history, the sooner we can get back to being a free nation. We've wasted the wealth of generations trying to buy influence with the parasites of the world, in an effort to gain power & prestige. The dog has been chasing its tail for 7 decades now and, thankfully, it's time for it to pass out.
The winds are shifting. President Ji told us what the Chinese plan was in his address to the World Economic Forum in January ( https://www.youtube.com/watch?v=dYSFakz7Mcg&t=1102s ). He makes clear statements about the global economic conditions which China would like to see, however nuanced. Assuming the translation is roughly correct, listening to the words and comments made (with traditional western liberal democratic blinders off) leaves the impression that China is saying they want to take down the US as the central global actor, without saying it. Strategically, why would they blindly continue forward with the USD as the reserve currency for the Regional Economic Comprehensive Partnership (RCEP)in the Eastern Pacific? They wouldn't; they would prefer to structure their own controlled reserve to be the One reserve currency so they have the senior position of authority in their sphere. The RCEP itself is clearly a 'pay it forward' effort to place China ahead of the US as the primary power in East Asia / the Western Pacific. All they have to do is wait for the blind King Leer they think the US will be to stumble into the next 15 years and the seizure of Taiwan will be a foregone conclusion and the crowning jewel to their assumption of the role of King Dog on the global stage (or at least in Asia, Africa, Eastern Europe, and the Middle East). The Chinese will let their doves fly, but it's just cover and concealment; the hawks are very much in charge and committed to the ascendancy of China as the world hegemon.
Western "leaders" are entirely complicit in all of this. Its a "monetary shift", yes, but what does that even mean? It means that the credit lines are nearly expended. In REAL terms, what we are witnessing is the final phase of a multi-generational process that most closely resembles a mafia-style "bust-out".
It's so cute that you think people care about gold or that China or Russia are even worth paying attention to lol. China and Russia are both completely doomed countries -- they won't even exist as we know them today in 50 years.
And nobody cares about gold because it has no use. Nobody under 40 will use anything other than Bitcoin.
Pounding the pavement about gold is like trying to convince everybody beepers are going to come back on top after Nokia started releasing flip phones lol.
Aside from the negative externalities of 'growth', what is ignored is the 'energy supply side'?
'We' have 16 years?
'Global peak oil production may have already happened in October of 2018 (https://energyskeptic.com/2020/will-covid-19-delay-peak-oil/ Table 1). It is likely the decline rate will be 6%, increasing exponentially by +0.015% a year (see post “Giant oil field decline rates and peak oil”). So, after 16 years remaining oil production will be just 10% of what it was at the peak.'
"The greatest threat to humanity on Earth is the escalating Arctic atmospheric methane buildup, caused by the destabilization of subsea methane hydrates. This subsea Arctic methane hydrate destabilization will go out of control in 2024 and lead to a catastrophic heatwave by 2026."
Saw a post about a Ukrainian refugee who left with $2k in BTC on a thumb drive. I know it's only an ounce or so, but where you going to hide it from robbers and how do you divide it? Lots of Jews 1938-1945 paid diamonds for moldy bread from farmers before being killed and robbed anyway
I fear that over the past 2 generations the US has morphed from the Shining City on the Hill, dominating the world with moral clarity and only mildly awful fiscal/monetary policies, to a preening, self-centered den of iniquity, far more concerned with someone's pronouns than the content of their character or their capabilities to do both good and well, and while the end has not yet come, certainly the current administration seems bent on getting us there as quickly as possible. I wonder if Stephanie Kelton will be held accountable for her influence on the disaster that is upcoming as the dollar ultimately falls into disrepute
We have a saying in London “it you want loyalty - get a dog”. The Americans have not yet learned this. They might now…but dont bet on it. They voted for a senile kindly-fiddler 😀
It appears that Israel is still just moderating its exposure to USD through diversification. Look again at all the extra colors on the 2022 row compared to 2021. Consider also:
2021 USD holdings as share of FX reserves: 0.665
2022 USD holdings as share of FX reserves: 0.61 (expected)
So, 1 - 0.61/0.665 = 0.0827.
Israel's holdings of USD are expected to fall about 8.3% in relative terms. This compares well to the very steep reduction, not quite 33.3%, of Euro holdings. However, their FX holdings 2021 increased in absolute terms to just over $200b USD. How much greater is this than 2020? And how much is it likely to grow (if at all) in 2022? Suppose for the sake of argument that holdings in 2021 were exactly $205b. If FX reserves increase about 9% to $223.5b in 2022, then USD holdings will be...
(0.61)($223.5b) = $136.3b,
but (0.665)($205b) = $136.3b.
So a modest increase of FX holdings in 2022 implies that Israel's USD holdings won't fall at all in absolute terms.
"A few weeks ago, I wrote an article proclaiming that Russia would back the ruble with gold as a way to fight back against western economic sanctions." Being forced to sell gold to buy rubles in a desperate move to prevent its collapse is not exactly "backing the ruble with gold." (it has recovered to all of a penny and change.) Now when the ruble starts reading "payable on demand for gold", as the dollar did until FDR got his mitts on it in 1933, please send us an update
The way I understand it, Israel's Plan is anything but new, right? So it is not a reaction, it is an long planned strategic decision, that's a difference. To make long story short - since 1995 I here the same storys about a major backing his curreny with gold. I mean..really? Isn't it enough to say you are bullish for gold? Everybodys loves Gold more than a fiat currency, the rest ist - again and again and again - wishfull thinking, bias at its best. If I'm wrong (this time) I owe you a good meal and a beer, that is for sure. Like every Gold-bull you art smart enough not to say WHENEVER the expected revolution is about to happen, but let's say 24 month, ok?
I have to wonder what China's up to by stopping production and exports with its zero-covid theater. They're weakening their economy. What's their game?
The sooner that our idiot politicians and the faux business people who have wormed their way into positions of influence are forced to file bankruptcy and swept into the dustbin of history, the sooner we can get back to being a free nation. We've wasted the wealth of generations trying to buy influence with the parasites of the world, in an effort to gain power & prestige. The dog has been chasing its tail for 7 decades now and, thankfully, it's time for it to pass out.
Agreed. The sooner it all comes falling down the better off we'll all be and the faster we can move on to what's next.
The winds are shifting. President Ji told us what the Chinese plan was in his address to the World Economic Forum in January ( https://www.youtube.com/watch?v=dYSFakz7Mcg&t=1102s ). He makes clear statements about the global economic conditions which China would like to see, however nuanced. Assuming the translation is roughly correct, listening to the words and comments made (with traditional western liberal democratic blinders off) leaves the impression that China is saying they want to take down the US as the central global actor, without saying it. Strategically, why would they blindly continue forward with the USD as the reserve currency for the Regional Economic Comprehensive Partnership (RCEP)in the Eastern Pacific? They wouldn't; they would prefer to structure their own controlled reserve to be the One reserve currency so they have the senior position of authority in their sphere. The RCEP itself is clearly a 'pay it forward' effort to place China ahead of the US as the primary power in East Asia / the Western Pacific. All they have to do is wait for the blind King Leer they think the US will be to stumble into the next 15 years and the seizure of Taiwan will be a foregone conclusion and the crowning jewel to their assumption of the role of King Dog on the global stage (or at least in Asia, Africa, Eastern Europe, and the Middle East). The Chinese will let their doves fly, but it's just cover and concealment; the hawks are very much in charge and committed to the ascendancy of China as the world hegemon.
Western "leaders" are entirely complicit in all of this. Its a "monetary shift", yes, but what does that even mean? It means that the credit lines are nearly expended. In REAL terms, what we are witnessing is the final phase of a multi-generational process that most closely resembles a mafia-style "bust-out".
Hollywood reference:
https://www.youtube.com/watch?v=EuPvjngCcOg&ab_channel=SopranosClipped
A cabal of the politically connected squeezing the last few drops of blood out of a dying system.
Cross-reference. Israel did not dump ALL of its U.S. Currency. It dumped roughly 5ish% ...
It's so cute that you think people care about gold or that China or Russia are even worth paying attention to lol. China and Russia are both completely doomed countries -- they won't even exist as we know them today in 50 years.
And nobody cares about gold because it has no use. Nobody under 40 will use anything other than Bitcoin.
Pounding the pavement about gold is like trying to convince everybody beepers are going to come back on top after Nokia started releasing flip phones lol.
50 years?
Aside from the negative externalities of 'growth', what is ignored is the 'energy supply side'?
'We' have 16 years?
'Global peak oil production may have already happened in October of 2018 (https://energyskeptic.com/2020/will-covid-19-delay-peak-oil/ Table 1). It is likely the decline rate will be 6%, increasing exponentially by +0.015% a year (see post “Giant oil field decline rates and peak oil”). So, after 16 years remaining oil production will be just 10% of what it was at the peak.'
http://energyskeptic.com/2020/climate-change-dominates-news-coverage-at-expense-of-more-important-existential-issues/
Or,
'We' have ten years?
“ . . . our best estimate is that the net energy
33:33 per barrel available for the global
33:36 economy was about eight percent
33:38 and that in over the next few years it
33:42 will go down to zero percent
33:44 uh best estimate at the moment is that
33:46 actually the
33:47 per average barrel of sweet crude
33:51 uh we had the zero percent around 2022
33:56 but there are ways and means of
33:58 extending that so to be on the safe side
34:00 here on our diagram
34:02 we say that zero percent is definitely
34:05 around 2030 . . .
we
34:43 need net energy from oil and [if] it goes
34:46 down to zero
34:48 uh well we have collapsed not just
34:50 collapse of the oil industry
34:52 we have collapsed globally of the global
34:54 industrial civilization this is what we
34:56 are looking at at the moment . . . “
https://www.youtube.com/watch?v=BxinAu8ORxM&feature=emb_logo
Or, have 4-5 years? {unlikely?}.
"The greatest threat to humanity on Earth is the escalating Arctic atmospheric methane buildup, caused by the destabilization of subsea methane hydrates. This subsea Arctic methane hydrate destabilization will go out of control in 2024 and lead to a catastrophic heatwave by 2026."
https://arctic-news.blogspot.com/2021/05/extinction-by-2027.html?fbclid=IwAR3FEKqILrzS_Le1Z4LRmEvqoSRz6p2rBIFjbNmY1NFB_rHeU4RpDT8u2Zg
Saw a post about a Ukrainian refugee who left with $2k in BTC on a thumb drive. I know it's only an ounce or so, but where you going to hide it from robbers and how do you divide it? Lots of Jews 1938-1945 paid diamonds for moldy bread from farmers before being killed and robbed anyway
I fear that over the past 2 generations the US has morphed from the Shining City on the Hill, dominating the world with moral clarity and only mildly awful fiscal/monetary policies, to a preening, self-centered den of iniquity, far more concerned with someone's pronouns than the content of their character or their capabilities to do both good and well, and while the end has not yet come, certainly the current administration seems bent on getting us there as quickly as possible. I wonder if Stephanie Kelton will be held accountable for her influence on the disaster that is upcoming as the dollar ultimately falls into disrepute
We have a saying in London “it you want loyalty - get a dog”. The Americans have not yet learned this. They might now…but dont bet on it. They voted for a senile kindly-fiddler 😀
No, "they" didn't vote him in. And we have that saying too.
You guys have zero originality, ergo, you must have heard it from us. 😀
It appears that Israel is still just moderating its exposure to USD through diversification. Look again at all the extra colors on the 2022 row compared to 2021. Consider also:
2021 USD holdings as share of FX reserves: 0.665
2022 USD holdings as share of FX reserves: 0.61 (expected)
So, 1 - 0.61/0.665 = 0.0827.
Israel's holdings of USD are expected to fall about 8.3% in relative terms. This compares well to the very steep reduction, not quite 33.3%, of Euro holdings. However, their FX holdings 2021 increased in absolute terms to just over $200b USD. How much greater is this than 2020? And how much is it likely to grow (if at all) in 2022? Suppose for the sake of argument that holdings in 2021 were exactly $205b. If FX reserves increase about 9% to $223.5b in 2022, then USD holdings will be...
(0.61)($223.5b) = $136.3b,
but (0.665)($205b) = $136.3b.
So a modest increase of FX holdings in 2022 implies that Israel's USD holdings won't fall at all in absolute terms.
"A few weeks ago, I wrote an article proclaiming that Russia would back the ruble with gold as a way to fight back against western economic sanctions." Being forced to sell gold to buy rubles in a desperate move to prevent its collapse is not exactly "backing the ruble with gold." (it has recovered to all of a penny and change.) Now when the ruble starts reading "payable on demand for gold", as the dollar did until FDR got his mitts on it in 1933, please send us an update
Israel awakening
Great news!
Interesting. Government of Israel has -0- gold reserves. I guess brainpower can make up for it. #StartupNation
great read.
The way I understand it, Israel's Plan is anything but new, right? So it is not a reaction, it is an long planned strategic decision, that's a difference. To make long story short - since 1995 I here the same storys about a major backing his curreny with gold. I mean..really? Isn't it enough to say you are bullish for gold? Everybodys loves Gold more than a fiat currency, the rest ist - again and again and again - wishfull thinking, bias at its best. If I'm wrong (this time) I owe you a good meal and a beer, that is for sure. Like every Gold-bull you art smart enough not to say WHENEVER the expected revolution is about to happen, but let's say 24 month, ok?
I have to wonder what China's up to by stopping production and exports with its zero-covid theater. They're weakening their economy. What's their game?
Losing the Mandate of Heaven as fast as possible with shrinking population polluted water, no food distribution system due to -0- Covid. Stay tuned
Gold Land and tools to work the land