Sat Mar 23, 2024 11:33 pm by globalturboThe Shifting Economic Singularity By JC Collins
03/07/201
The Shifting Economic Singularity
By JC Collins
March 7, 2014
It appears Russia will not back down on their position in the Ukraine and the end game is fast approaching. Many of my readers sent the following link yesterday.
http://www.reuters.com/article/2014/03/06/us-imf-reforms-idUSBREA251IN20140306
If you haven’t read that article yet I suggest you do. Its telling us that the G20 countries will implement the IMF 2010 Reforms without the US if Congress doesn’t pass the required legislation by April.
“It was agreed that in the absence of progress by the United States on the 2010 package by the April meeting of the IMF and G20, that there will be formulated a list of ‘bad options,’ which will allow to move forward in this matter, excluding the opinions of the United States.”
Congress for its part is attempting to attach the reforms to the Ukrainian aid package which will be put before the Senate next Tuesday. But if they are waiting for any concessions from Russia before passing it, I don’t think those concessions will be forthcoming.
The United States has found itself in the position where it has no other move but to attempt sanctions which will back fire, escalate military conflict, or accept that the economic reality has shifted away from the dollar reserve status and towards a more centralized and balanced system.
The 2010 Code of Reforms act as the singularity for the economic shift or transition from dollars to SDR’s with sovereign debt restructuring through the International Monetary Fund.
Its understood that America is attempting to secure its interests around the world before willingly agreeing to the dollars status change. Unfortunately it cannot control all energy hubs and strategic borders without the ability to fund a large military machine with over 800 bases around the world.
Without the ability to print endless money and export the inevitable inflation, the US will have to constrict the scope of its international ambitions. In fact, without the reserve currency status, those ambitions will become irrelevant for the most part.
We have continued to state that its either consolidation of sovereign debt and currency reset through a centralized SDR system or collapse of the old system.
Based on the stance of the G20, being pushed no doubt by Russia and China, the world is ready and prepared to by-pass the dollar and allow the collapse of the American currency and stock market.
Predictions are being made that 2014 could see a 50% drop in the stock market. This would obviously be a direct effect of a 50% devaluation of the dollar in the event the IMF Code of Reforms are not implemented.
The pressure on Congress, and White House administration, as well as American banks and industry must be huge. Its this industry and banking sector which is being represented in Congress by way of delays in implementing the IMF reforms.
The consequences for middle and lower class Americans will be devastating if Congress doesn’t willingly pass the legislation and allow their sovereign debt to be restructured. The currency will collapse and treasuries will be dumped.
The US will default as the QE policy of monetizing their own debt will inevitably fail as the dollar loses its reserve currency status and decades of exported inflation floods back to American shores.
The game behind the scenes is playing out very quietly in spite of the distraction taking place on the large stage.
The US cannot have it be known that they willingly signed off on what will mean a reduced influence and power structure for the dollar.
Military positioning is likely for show only as the sun sets on American economic and military control. Just like it did on the British over 70 years ago.
The next week will show that support for the US over the Ukrainian “crisis” is weak or non-existent. We know this because the G20 has already announced their intentions to implement the IMF reforms with or without American agreement.
As such, there is no support for the US. There will be no big coalition or integrated sanctions program enacted against Russia. There will only be the US becoming more and more isolated as the end game plays out and we move from March into April. There is no escape from the gravitational force which is pulling the world towards a more centralized and multilateral financial system.
From the Reuters link:
“A third source would not confirm it was Russia that brought up the issue, but said the G20 generally agreed to give the United States until the April meetings of the IMF and World Bank before taking more aggressive measures, a point confirmed by one of the other sources. All three sources spoke on condition of anonymity.”
The common denominator to all that is happening is the IMF 2010 Code of Reforms. The G20 is using wording such as “bad options” and “aggressive measures” to implement the reforms in the event the US fails once again to pass the required legislation.
What these “bad options” and “aggressive measures” entail can only be guessed at. But its not hard to imagine it would include a process by which devaluation buffer substitution accounts will not be used as Russia and China begin to unload US treasuries directly onto the market.
In the interest of clarity, the 2010 Reforms are adjustments to quotas for each country. It will level decision making power on the Executive Board of the International Monetary Fund. The lost of reserve currency status for the dollar is a direct consequence of this process.
Things continue to move fast but we need to keep our eyes on the 2010 reforms. All countries involved want the reforms implemented. Its only how they are implemented and who retains or gains control of strategic regions that has yet to be finalized.
Once the reforms are implemented, willingly or unwillingly, the real action will begin as commodities and currencies begin to shift from dollars to SDR’s. If there is a peaceful transition, which I still contend there will be, this transition will be orderly with the media hyping the sovereign debt crisis and turmoil of the currency markets. This will ensure the slight of hand continues. Lets not forget the Hegelian Dialectic. The engineered singularity approaches. – JC Collins
http://philosophyofmetrics.com/2014/03/07/the-shifting-economic-singularity/
03/07/201
The Shifting Economic Singularity
By JC Collins
March 7, 2014
It appears Russia will not back down on their position in the Ukraine and the end game is fast approaching. Many of my readers sent the following link yesterday.
http://www.reuters.com/article/2014/03/06/us-imf-reforms-idUSBREA251IN20140306
If you haven’t read that article yet I suggest you do. Its telling us that the G20 countries will implement the IMF 2010 Reforms without the US if Congress doesn’t pass the required legislation by April.
“It was agreed that in the absence of progress by the United States on the 2010 package by the April meeting of the IMF and G20, that there will be formulated a list of ‘bad options,’ which will allow to move forward in this matter, excluding the opinions of the United States.”
Congress for its part is attempting to attach the reforms to the Ukrainian aid package which will be put before the Senate next Tuesday. But if they are waiting for any concessions from Russia before passing it, I don’t think those concessions will be forthcoming.
The United States has found itself in the position where it has no other move but to attempt sanctions which will back fire, escalate military conflict, or accept that the economic reality has shifted away from the dollar reserve status and towards a more centralized and balanced system.
The 2010 Code of Reforms act as the singularity for the economic shift or transition from dollars to SDR’s with sovereign debt restructuring through the International Monetary Fund.
Its understood that America is attempting to secure its interests around the world before willingly agreeing to the dollars status change. Unfortunately it cannot control all energy hubs and strategic borders without the ability to fund a large military machine with over 800 bases around the world.
Without the ability to print endless money and export the inevitable inflation, the US will have to constrict the scope of its international ambitions. In fact, without the reserve currency status, those ambitions will become irrelevant for the most part.
We have continued to state that its either consolidation of sovereign debt and currency reset through a centralized SDR system or collapse of the old system.
Based on the stance of the G20, being pushed no doubt by Russia and China, the world is ready and prepared to by-pass the dollar and allow the collapse of the American currency and stock market.
Predictions are being made that 2014 could see a 50% drop in the stock market. This would obviously be a direct effect of a 50% devaluation of the dollar in the event the IMF Code of Reforms are not implemented.
The pressure on Congress, and White House administration, as well as American banks and industry must be huge. Its this industry and banking sector which is being represented in Congress by way of delays in implementing the IMF reforms.
The consequences for middle and lower class Americans will be devastating if Congress doesn’t willingly pass the legislation and allow their sovereign debt to be restructured. The currency will collapse and treasuries will be dumped.
The US will default as the QE policy of monetizing their own debt will inevitably fail as the dollar loses its reserve currency status and decades of exported inflation floods back to American shores.
The game behind the scenes is playing out very quietly in spite of the distraction taking place on the large stage.
The US cannot have it be known that they willingly signed off on what will mean a reduced influence and power structure for the dollar.
Military positioning is likely for show only as the sun sets on American economic and military control. Just like it did on the British over 70 years ago.
The next week will show that support for the US over the Ukrainian “crisis” is weak or non-existent. We know this because the G20 has already announced their intentions to implement the IMF reforms with or without American agreement.
As such, there is no support for the US. There will be no big coalition or integrated sanctions program enacted against Russia. There will only be the US becoming more and more isolated as the end game plays out and we move from March into April. There is no escape from the gravitational force which is pulling the world towards a more centralized and multilateral financial system.
From the Reuters link:
“A third source would not confirm it was Russia that brought up the issue, but said the G20 generally agreed to give the United States until the April meetings of the IMF and World Bank before taking more aggressive measures, a point confirmed by one of the other sources. All three sources spoke on condition of anonymity.”
The common denominator to all that is happening is the IMF 2010 Code of Reforms. The G20 is using wording such as “bad options” and “aggressive measures” to implement the reforms in the event the US fails once again to pass the required legislation.
What these “bad options” and “aggressive measures” entail can only be guessed at. But its not hard to imagine it would include a process by which devaluation buffer substitution accounts will not be used as Russia and China begin to unload US treasuries directly onto the market.
In the interest of clarity, the 2010 Reforms are adjustments to quotas for each country. It will level decision making power on the Executive Board of the International Monetary Fund. The lost of reserve currency status for the dollar is a direct consequence of this process.
Things continue to move fast but we need to keep our eyes on the 2010 reforms. All countries involved want the reforms implemented. Its only how they are implemented and who retains or gains control of strategic regions that has yet to be finalized.
Once the reforms are implemented, willingly or unwillingly, the real action will begin as commodities and currencies begin to shift from dollars to SDR’s. If there is a peaceful transition, which I still contend there will be, this transition will be orderly with the media hyping the sovereign debt crisis and turmoil of the currency markets. This will ensure the slight of hand continues. Lets not forget the Hegelian Dialectic. The engineered singularity approaches. – JC Collins
http://philosophyofmetrics.com/2014/03/07/the-shifting-economic-singularity/
