Posted on 07/19/2014 1:33:03 PM PDT by markomalley
In early July 1944, delegates from 44 countries gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire. A three-week summit took place, at which a new system was agreed to regulate the international monetary and financial order after the Second World War.
The US was already the world’s commercial powerhouse, having eclipsed the British Empire several decades earlier. America was also on course to be among the victors of “Europe’s conflict”, even though its economy was largely unscathed by war. As such, Bretton Woods was US-dominated and produced a settlement largely on US terms.
Seventy years ago this week, that fateful summit ended. Its close marked the moment the dollar’s unquestionable supremacy was secured. Since then, global commerce has been conducted largely in dollars and leading economies have held the greenback as their primary reserve currency.
The same system remains intact today, with the lion’s share of commercial settlements worldwide still clearing the US banking system – even if the parties involved have nothing to do with the States.
The dollar’s hegemony continues to be cemented, meanwhile, by the operations of the International Monetary Fund and World Bank. Founded at Bretton Woods, they’re both Washington based, of course, and controlled by America, despite some Francophone window-dressing.
(Excerpt) Read more at telegraph.co.uk ...
The Declaration of Independence and Constitution were written with the PRESUMPTION OF LIBERTY that is the inalienable right of each citizen
Government acts with the presumption of total power over each citizen. It is easy for one branch of government to give other branches permission to expand or maintain their power. It is difficult, for one branch to reign in the power of another branch. This is made even more difficult when a common, power-oriented, ideology pervades members of each branch.
The primary limit on government power is the limited money it can spend. When government gives itself power to create near-infinite amounts of money through an “independent” central bank, then there is very little to limit near-infinite amounts of government in all forms, particularly the groups that it will give subsidies to and the bureaucrats it will employ.
Every day more people are coming to the judgment that a carefully organized effort to repair the constitution via the States’ power to propose and ratify amendments has less risk to our liberty and prosperity than the present trajectory of the federal government and especially the federal bureaucracy.
The first order of business of an Article V Convention must be to limit government’s ability to spend and create near-infinite amounts of money.
Counterfeiting our own currency does that.
Why would anyone want to have a counterfeit currency as the world rerseve currency?
They have been declaring the end of dollar before global global cooling was fashionable.
So will it be Chinese?
Compliments of the Progressives who gave control of our money to private banks (The Federal Reserve), and ensured devaluation of our money by removing it from any links to reality (taking it off the gold standard).
This always spells the doom of every country which goes down this path.
And none of this is accidental. It repeats itself throughout recorded history and is designed to transfer wealth to a small group of elites. The Founding Fathers were well aware of it and did their best through the Constitution to preempt it.
The decline of our currency has to be related to the performance of others; I don’t know about the yuan, but value against the euro hasn’t changed much.
Of course I’m not well versed in this. Maybe somebody here’s been keeping track.
Changing the leadership without fixing the underlying cultural and social foundations of this country won't do a damn thing.
When the dollar ceases to be the world’s reserve currency we will probably experience Weimar Republic type hyperinflation.
‘When the dollar ceases to be the world’s reserve currency we will probably experience Weimar Republic type hyperinflation.’
That is what I expect also. Those who put their faith in this government or the Fed to head off what I see as inevitable, are going to wake one morning, broke. There are worse things I suppose but with the current mix of different cultures here and the class warfare that Obama has promoted, I believe our response to the coming collapse will be much worse than was Germany’s.
We are already seeing the beginnings of hyperinflation now and it will most likely before too many months pass, suddenly be upon us. Be prepared to protect yourself because the cavalry aint coming.
We are already seeing the beginnings of hyperinflation now and it will most likely before too many months pass, suddenly be upon us. Be prepared to protect yourself because the cavalry aint coming.
__________
What are you seeing as the beginning of hyperinflation?
Food, energy, rents, auto prices, toothbrushes, farm land, other than wages, housing, computers, antiques, used motorcycles, used rv’s, used boats, and clothing pretty much everything is up. The stock market is another example.
Lower prices for used rv’s, antiques, used boats, and used motorcycles tells me that discretionary income is down. That tells me that more people are strapped for cash and are living paycheck to paycheck and cannot afford luxuries. That’s just what I see in my small corner of the world. I am not an expert but have never met one either. I have read that food is up over 20% so far this year. My electric bill is up 30%. The cigarettes I unfortunately smoke have gone up 3 times this year. My cat treats have been downsized but the price remains the same. This is just my opinion which is worth about at same as everyone else’s.
First this comment from the article below. It`s spot on and prescient :
They will re-monetize gold for trade in goods by-passing the dollar or they will establish trade via other currencies. But the goal is to start backing their trades and/or individual currencies with gold.
The caveat is this, however: They still need to continue slowly extricating themselves from as much of their U.S. dollar and bond holdings as possible so that they don’t start a fucking avalanche and everyone start running and screaming from the theater all at the same time. That way they can also continue to buy gold for cheap dollars.
But when the day comes and they’re all wired together with their own version of SWIFT and everyone is ready to rock, then that’s when they will flip the switch on the dollar. They will all have to dump it at the same time so the transition occurs in one move basically over a weekend.
-BRICS Plan To Become “Political Alliance” To Reform The International Financial System-
As the world slowly turns against US Dollar hegemony, it appears the BRICS are pressing to fill any gaps. Having created the BRICS Bank “alternate to The West-controlled IMF or World Bank,” Xinhua reports that Russian Foreign Minister Sergei Lavrov believes the BRICS mechanism has been fully developed and can now transform into a political alliance to “reform the international financial system.”
-BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks-
PS:
When they sell off their U.S. Bonds, get organized and flip the switch overnight?
The USD becomes worthless and will fetch maybe 50 cents at first then continue to melt to 5 or 10 cents.
USA either esets to a Constitutional Republic or becomes a 3rd world sh*t-hole dictatorship.
Scouts Out! Cavalry Ho!
Important article.
Mark Steyn likes to cite this passage from The Sun Also Rises when discussing the bleak fiscal future of America:
“How did you go bankrupt?”
“Two ways. Gradually, then suddenly.”
Electing one man, hoping in one man, is folly.
It is the electorate which has been co opted and dumbed down and made dependent and immoral.
As such, this trend WILL continue, unless the change that is necessary, an electorate craving freedom and sanity and moral-justness, is re-established. Pending that, hold on for the ride.
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