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The War On Cash And Then On Gold

Discussion in 'Topical Discussions (In Depth)' started by searcher, Dec 20, 2016.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    solarion likes this.
  3. solarion

    solarion Gold Member Gold Chaser

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    Gumbymint is like a rabid dog attacking its owner. Rabid dogs should be put down.
     
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  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  5. solarion

    solarion Gold Member Gold Chaser

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    India, Japan, and Australia moving to embrace cryptos while the fascist pigs in the District of Corruption are working on a bill to criminalize it.

    Land of the free my ass.
     
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  6. Joe King

    Joe King Gold Member Gold Chaser

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    Are you saying there's actually a Bill in Congress that does that, or just that it's on their wish list?
     
  7. solarion

    solarion Gold Member Gold Chaser

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  8. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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  9. solarion

    solarion Gold Member Gold Chaser

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    Trying to get 'mericans to out themselves by declaring their bitcoin net worth at the commie checkpoints seems more like an act of desperation than a real policy. Smacks of the traitor FDR declaring private gold ownership "illegal" and threatening fines and prison time that was never going to be used. Except, bitcoin is just a tiny bit easier to conceal.

    DeeCee is filled with pathetic leeches that couldn't survive a month on the streets.
     
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  10. Joe King

    Joe King Gold Member Gold Chaser

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    Thanks for posting that. Very interesting. Although I will say that I feel they are setting themselves up for an impossible task.

    A quick quote from a pertinent part of the Legislation: Not later than 18 months after the date of enactment of this Act, the Secretary of Homeland Security, in consultation with the Commissioner of U.S. Customs and Border Protection, shall submit to Congress a report—
    (1) detailing a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States; and

    (2) that includes an assessment of infrastructure needed to carry out the strategy detailed in paragraph (1).

    How could they ever actually do that? For example, in the case of prepaid gift cards, email the codes to yourself via a free email service and then shred the cards. Travel to wherever you want, check your email for the codes and spend 'em like normal. How could they ever have time to check for that at a border crossing?
    ...and even if the nsa spied on your email and tattled on ya, all ya gotta do is alter the codes by a known-only-to-you amount and/or add a few of your own characters to them so no one could know what they were. (an Amazon code on its own may be recognizable as such) Ie: At that point it's just a random string of numbers and letters.
     
  11. solarion

    solarion Gold Member Gold Chaser

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    Mission impossible. They just want to scare people into screwing themselves...again.
     
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Digital Enslavement With No Way Out

    -- Published: Monday, 26 June 2017

    By Rory Hall

    Click Here for Part 1

    Click Here for Part 2

    So far we have covered a few of the laws and policies government, in conjunction with the banking cabal have their sights set on our remaining wealth. We have also questioned the base architecture of the internet and shown how governments outside the U.S. have explored building an entirely new internet for the purpose of moving away from the U.S. centric internet. Anyone that doesn’t understand our entire digital footprint is captured and catalogued by government spy agencies is not living in the real world.

    This brings us to the fact several governments have expressed their desire to eliminate cash from the system. Sweden has moved away from cash in a non-official capacity. India recently eliminated the two most used bank notes in the country. China’s economy flourishes on approximately 40% cash transactions and we have also demonstrated the world over approximately 1 out of 3 people never use cash at all for any reason.

    What is behind a move to a cashless society? Who is interested in making this a reality? Who would benefit and what could possibly go wrong for the citizens?

    Williem Buiter, CITI, wrote an article for the Financial Times – Alphaville describing how what a wonderful world it would be without all that nasty cash floating around. Mr. Buiter is one of those economist that, at his core, seems to hate that people have a desire to save their wealth instead of spending their way into prosperity.

    As far back as 1999 Wiliem seemingly was already interested in stealing peoples wealth through “negative” interest rates. First, as Williem states, there is no such thing as negative interest rates. You and I would refer this as theft, but since Buiter is an “economist” of the highest degree he uses very flowery language.

    An economy is in a liquidity trap when monetary policy cannot influence either real or nominal variables of interest. A necessary condition for this is that the short nominal interest rate is constrained by its lower bound, typically zero. The paper considers two small analytical models, one Old-Keynesian, the other New-Keynesian possessing equilibria where not only the short nominal interest rate, but nominal interest rates at all maturities can be stuck at their zero lower bound.

    When the authorities remove the zero nominal interest rate floor by adopting an augmented monetary rule that systematically keeps the nominal interest rate on base money (including currency) at or below the nominal interest rate on non-monetary instruments, the lower bound equilibria are eliminated, thus allowing an economic system to avoid the trap or to escape from it. This rule will involve paying negative interest on currency, that is, imposing a ‘carry tax’ on currency, an idea first promoted by Gesell. The administration costs associated with a currency carry tax must be set against the benefits of potentially lower shoe-leather costs and lower menu costs which are made possible by the its introduction. There are also output-gap avoidance benefits from eliminating the zero lower bound trap. Source

    In other-words – if a bank can show that zero is not actually the end of the line for interest rates, the sky is the limit as to how low interest rates can go. This, of course, is dependent on imposing a “carry tax” on currency. Meaning, that if you have funds in a checking, savings or other account in a bank the bank MUST charge your a percentage of your funds for the privilege of them holding your funds. Just kinda gives you the warm and fuzzies doesn’t it?

    The fact that Buiter detailed how negative interest rates would work in 1999 proves beyond question we are given small pieces of the puzzle and it is our duty and our responsibility to piece the puzzle together. The banksters told us it was coming, they just didn’t say when.

    While the paper Buiter is public, Quantitate Easing (QE), Negative Interest Rate Policy (NIRP) and Zero Interest Rate Policy (ZIRP) were never introduced, across the spectrum, to the public until 2010 and this was two full years after the collapse of the banking system in 2008 and all the attempts to “revive the economy” had completely failed. The banks were still in a state of collapse after two years of trying to convince the public everything was fine.

    Now we have a better idea of why banks must move to a cashless society. If they do not, the way the system is currently functioning will never change. It will remain in a perpetual state of nothingness or said more plainly – economic depression – think Japan for the past 20+ years. The serfs will rise up if this continues much longer so having an escape plan is a must. That escape plan is a cashless society.

    I want something in our system to change and allow the people to have free will. Is the blockchain or cryptocurrencies the answer? Will we the people be able to force the hand of the central banks, the cause of misery the world over? Will we the people be able to take back our sovereignty without firing a shot?

    Let’s review some recent comments on the blockchain, cryptocurrencies and read what has been said.

    The first step in stripping all the cash from the hands of the people, and thereby, rendering them slaves to the banks forever, make it much simpler and “convenient” to use a debit or credit card and enact laws that limit their use of cash. If this doesn’t work simply change the laws outlawing cash, but the goal is to first soft-sell “de-cashing“.

    The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing”. It gives advice to governments who want to abolish cash against the will of their citizenry. Move slowly, start with harmless seeming measures, is part of that advice. Source

    One of my favorite criminal banksters is Blythe Masters, the queen of derivatives. If ever there was a one single person responsible for the 2008 utter meltdown of the global economy it would be Masters. She is directly responsible for the development of credit default swaps – “financial weapons of mass destruction”. Blythe, after strip mining the global economy for the banksters accepted her next assignment – developing blockchain technology for the banking cabal.

    In 2015 Masters was being heralded as the second-coming in banking.

    Masters is the CEO of Digital Asset Holdings, a New York tech startup. She says her firm is designing software that will enable banks, investors, and other market players to use blockchain technology to change the way they trade loans, bonds, and other assets. If she’s right, she’ll be at the center of yet another whirlwind that will change the markets.

    “You should be taking this technology as seriously as you should have been taking the development of the Internet in the early 1990s,” Masters, a lithe 46-year-old Englishwoman with auburn hair and the proper diction of the Home Counties, explains to the rapt audience. “It’s analogous to e-mail for money.”

    That’s a bold statement, but Masters isn’t the only voice heralding the coming of the blockchain. The Bank of England, in a report earlier this year, calls it the “first attempt at an Internet of finance,” while the Federal Reserve Bank of St. Louis hails it as a “stroke of genius.” In a June white paper, the World Economic Forum says, “The blockchain protocol threatens to disintermediate almost every process in financial services.”

    ****

    By contrast, Ripple Labs, another San Francisco company, runs a self-contained network for financial institutions that doesn’t rely on bitcoin at all. Masters plans to offer banks and other financial players both options: Digital Asset is creating an off-the-shelf private blockchain product and developing ways to connect its customers to the existing bitcoin system.

    Whatever form it takes, the blockchain has the potential to change the very structure of the financial services industry, says Oliver Bussmann, the chief information officer at UBS. “If you brought up bitcoin with bankers 12 months ago, you’d lose their attention immediately,” Bussmann says. “Now, everyone sees this as a critical topic. I know of more than 100 firms that are trying to make the blockchain more scalable, more secure, to make the one that everybody will use. There’s a race on out there.”Source

    What about something else associated with Blythe and her merry band of bankster scum – the DTCC. Not familiar with DTCC. Well, they own all the stock in your portfolio. Please, I beg you not to trust me and look it up yourself – once you arrive at the point that shows you that I am 100% correct allow the pain and sting to sink down into your bones. Then do something about it.

    DTCC and Digital Asset – the tech firm that Masters leads – hope that their new tool will cut costs for traders, and reduce the risk that trades won’t complete correctly.

    It is not the only blockchain-based project that the DTCC has embarked on. It is also working on using the technology to build a new trade-records system for the derivatives market. In January, it said it had joined forces with IBM and New York-based fintech startups Axoni and R3 for this project. Source

    Isn’t that nice, Blythe Masters building blockchain technology to assist the banks and the DTCC to make everything run better. That is about as terrifying a thought as I can imagine. I feel confident the efficiencies in theft by the banks will increase 10-fold.

    What about the next level up from Blythe and her criminality? The IMF is also interested in blockchain and cryptocurrencies.

    In a speech today at a Financial Action Task Force (FATF) plenary meeting, Christine Lagarde talked broadly about how her organization is seeking to combat money laundering and terrorist financing, noting that blockchain innovations could be both a defense against these issues, as well as a tool that enables them. Source

    Plenary, plenary, where have I heard that word before – oh yeah, in John Titus’ brilliant explanation All the Plenary’s Men.The picture gets darker and uglier by the minute.



    What about the federal government of the U.S. what interest are the wankers in DC showing?

    The agency said on its website:

    “The purpose of this RFQ is to obtain contractor support to develop a proof of concept for DLT (Distributed Ledger Technology), automated machine learning technology, and/or artificial intelligence based exchange implementation into GSA’s Multiple Award Schedule (MAS) FAStlane new offer proposal review processes.”

    For those unaware DLT another way of saying blockchain.

    What about the United Nations and being able to enslave people through stripping them of affordable energy to heat and cool their homes, run their vehicles on the remaining oil or use energy in a way that fits their need? Well, blockchain to the rescue. That’s right

    “As countries, regions, cities and businesses work to rapidly implement the Paris Climate Change Agreement, they need to make use of all innovative and cutting-edge technologies available. Blockchain could contribute to greater stakeholder involvement, transparency and engagement and help bring trust and further innovative solutions in the fight against climate change, leading to enhanced climate actions.” Source

    That’s a lot of criminals circling the very item that is suppose to free humanity from the clutches of these very people that have us currently enslaved!! Or did I miss something?

    What the central banks? Well, they already have a cryptocurrency to circumvent all the other cryptocurrencies.

    There is a new cryptocurrency on the scene called “Utility Settlement Coin” (USC). This new electronic currency was developed by four of the largest banks in the world, including UBS, Deutsche Bank, Santander, BNY Mellon and ICAP. Source

    I want out of this current nightmare as much as anyone else. I have long questioned the “saving grace” of cryptocurrencies and said point blank this is a banksters dream come true. Now you have credible people singing the praises of this new technology.

    What about recent comments made by one these respected voices stating the technology can be traced “step for step” with a “paper trail” leading back to the ultimate source of the recent Ethereum flash crash!! Listen for yourself, then get back to me about how this technology, now surrounded by the very criminals, who’s crimes we report every single day, like jackals surrounding it’s next victim.

    At the end of the day each of us has to make decisions based on information and our individual circumstances. I am still stacking physical gold and silver. I will continue stacking physical.

    http://thedailycoin.org/2017/06/26/digital-enslavement-no-way/

    http://news.goldseek.com/GoldSeek/1498493764.php
     
  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Fake Leadership, Fake News… Even Fake Gold Dealers


    -- Published: Monday, 3 July 2017

    Jim Rickards on the War on Gold, the Coming China Collapse & War w/ North Korea
    Listen to the Podcast Audio: Click Here



    [​IMG]

    Mike Gleason: I wanted to ask you about a tweet you sent out earlier this month – and for people who want to follow you there, it's @JamesGRickards – but in that tweet you wrote:

    Just informed that Scotia Bank branch is now a gold buyer only. Will not sell to retail clients. Get it while you can. War on gold is here.

    Expand on that here, Jim. What did you make of that move and why did you make those comments?

    Jim Rickards: Sure. We have a war on cash. I think that's pretty well known to the listeners, so we see it everywhere. India just abolished its two most popular forms of cash. They literally woke up one day and they said, I think it was the 2,000 rupee note and the 1,000 rupee note, if I'm not mistaken. I believe those are the right denominations. Not worth a whole lot by our standards, worth like $15 or whatever. But they were, by far the most popular and widely used, widely circulated bank notes in India. And the government just woke up and said they're all illegal. They're worthless. Just like that. Now what they said is, "Now you can take them down to the bank and you can hand them in, and we'll give you digital credit in your account—oh by the way, the tax inspector's going to be there asking you where you got the money." So obviously it was designed to flush out people suspected of tax evasion.

    Although, in fact it turned out that there weren't that many tax cheaters. They were just people who actually preferred money. The preferred cash and they were forced out of the system, forced into this digital system. And there were all kinds of negative repercussions of that. So, there's a whole country that abolished the most popular forms of cash.

    Sweden is very close to cashless. You go around the United States, you might have some, what we call in Philadelphia “walking around money.” I can look in my wallet and there's probably some 20s and maybe a couple 50s in there, but when you transact, you get paid digitally. You pay your bills with automatic debits. You transfer money with wire transfers. You use your debit card. You use your credit card, etc. You shop on Amazon, you pay with a debit or credit card, etc. maybe PayPal. And I do that. Everyone does that. I'm no different. I'm not exempt from or outside the system.

    The point is the dollar is already a digital currency. It's actually a digital crypto-currency, not that different from Bitcoin. It has a different issuer, but in form it's really a digital currency. But we're very far down the road of a cashless society. It wasn't that long ago, certainly when I was a kid, we had $500 bills. And they were in circulation. You'd see one every now and then. Those were abolished in 1968. That left us with the $100 bill as our largest denomination. But the $100 bill of 1968 is only worth about $20 today in terms of relative purchasing power. So, they don't even have to get rid of the 100, they just have to keep waiting and it'll be worth about 10 cents in time.

    So, the war on cash is underway. That's partly to set up for negative interest rates. I said earlier that the Fed has not used negative interest rates and has no immediate plans to. That's true, but they can. There's nothing stopping them. And of course, other countries have. We've seen this in Europe, Switzerland, Japan, and elsewhere. So how does the negative interest rate work? So, you have 100,000 in the bank and the negative interest rate of one percent. You go away for a year, come back, you only have 99,000 left. The bank took $1,000 out of your account instead of paying you interest, they take your money as negative interest rate.

    Well you say, "Okay, well one of the ways to beat negative interest rate is to take all my cash out… stick it under my mattress or whatever, right?" So you go to the banks, they give you $100,000. They give you ten, what they call straps or $10,000, a 100 100s with a band around it. That's one strap. So, they give you 10 of those and there's your $100,000. And you put it away safely, and a year later, you still have 100,000. But your neighbor with the money in the bank, he only has 99 (thousand), because they took 1% interest. So, the way to beat negative interest rates is to go to cash.

    So therefore, the leads say, "Well, we might want to use negative interest rates, so we have to get rid of cash before we can go to negative interest rates." So that's the war on cash. Now, one of the ways to fight back in the war on cash is to buy gold. Right, so take your cash, buy gold, put that in a safe place. Now even if they eliminate cash, you still have the gold. In theory, even in the world of digital currency you could always sell the gold for a certain amount of digital currency. And you also preserve your value. And for the people they really don't like, terrorists and tax evaders and others. I mean I'm talking about honest citizens. But for the people the government doesn't like, they're already making the migration. Like, "Okay, you want to make it impossible to be a money launderer or impossible to move money around by cash. Let's just use gold. Good luck tracing that. It's non-digital."

    By the way, this is already going on in what I call the axis of gold. The axis of gold is Russia, China, Iran, Turkey and North Korea. When North Korea sells missile technology to Iran, they don't get paid in dollars through Swift. That would never happen. That money would be frozen obviously. The North Koreans really don't want Russian rubles, what are they going to do with them? They can't get dollars, because of the state of the U.S. controls the payment system. So, Iran actually pays them with Korean gold, physical gold. Puts it on a plane, they can fly it to North Korea, or maybe North Korea designates someplace else like Russia as a storage place, because they don't want it in their own backyard. But be that as it may. As I say, Russia, China, Iran, Turkey and North Korea and perhaps others are already settling their payments to each other either for weapon sales or other activities in physical gold.

    So, if you have a war on cash people very quickly migrate to gold, which means you have to have a war on gold also. So, one of the reasons I've been predicting a war on gold is because I see the war on cash is already here. And if the answer to the war on cash is to go to gold, then if you're the global power elite, you have to have a war on gold also. So, a lot of these things don't exist today, but it's very easy to see limitations on sales, certainly from 1933 to 1975, gold was contraband in the United States. It was illegal for a U.S. citizen to possess gold. With very few exemptions. You could have gold denture fillings, I guess or some gold jewelry, but not coins or bullion. So, you could limit sales, you could put all kinds of reporting requirements on dealers, which don't exist today. You could put surtaxes on dealer transactions, which don't exist today, etc. or require licensing, which does not exist today.

    There’s a lot of things you could do to make it very, very difficult to buy or sell gold if not impossible. So, my advice to investors is pretty simple, which is the war on cash is here. The war on gold is coming. Why not go get your gold today, put it in a safe place, and then when they shut the door on gold, you'll be okay, because you'll have yours. People who are waiting, like, "Oh, I'm just going to wait. I'm going to wait until things get worse. I'm going to wait till the price goes up a lot. What's the hurry?" My answer is, "By the time you're ready to move, it may be too late."

    Mike Gleason: Jim, 2018 is setting up to be a pivotal year. You are expecting Chinese officials to keep a lid on their unfolding debt crisis until after the all-important Congress of the Communist Party in China this fall. It is a pivotal gathering in the current party leadership wants badly to put on a good face and avoid turmoil leading up to that event. But you anticipate they will have trouble maintaining control of that situation much beyond the fall. Meanwhile, by next year, Americans should have a better handle on how much of what Trump promised in terms of infrastructure and tax relief might actually come to fruition. It looks like the president has his work cut out for him in Congress. So, as we begin to close here, Jim talk a bit, if you would, about what you think investors should be watching as we move through the next 18 months or so.

    Jim Rickards: Well I don't think there's much that will happen that you can't perceive today. Now there are always surprises. I understand that there'll be terrorist attacks we haven't anticipated, etc. but a lot of the big things that are going to happen in 2018, you can always see them coming, because this is the kind of analysis I do. It's complex dynamic systems analysis. In other words, rather than using stochastic equilibrium models, which is what the Fed does or other obsolete models that are linear in nature, I use a complex theory in complex dynamic systems modeling, because I like to say the future's already here today. It just hasn't played out yet. In other words, if you understand how a system evolves and you understand something about the initial conditions, you can make some forecasts.

    So, for example, one model would be the Mundell-Fleming model, which is sometimes called the impossible trinity. It's one of the leading models of international monetary economics. And basically, it says there are three things that you cannot have at the same time if you're a country. You cannot have an open capital account, a fixed exchange rate and an independent monetary policy. you can have two out of three, one out of three, but you can't have all three. If you try, you will fail. And then the only analytic question is how will you fail and when? But it's called the impossible trinity for a reason, which is you can't have it.

    Now, and the reason is that has to do with arbitrage. If money can come in and out, and I'm pursuing independent monetary policies, my rates are different than somebody else. But I'm trying to peg my exchange rate. Well, obviously, people are going to flee the jurisdiction where they think the interest rate is going to devalue and go to another currency where the interest rate is higher and the currency is going to appreciate not depreciate. And that's going to deplete your capital account and cause a foreign exchange crisis. I don't mean to be glib about the impossible trinity. There are actually good reasons when you look below the surface why it's true. But just take it for true, but now and again, there's decades of evidence to support it.

    China was trying to do this. They were trying the impossible trinity. If you go back to the middle of 2016, even towards the end of 2016, they were running an open capital account to keep the IMF happy. They were trying to peg to the dollar to keep the United States happy. And they were trying to have an independent monetary policy of low interest rates to prop up their Ponzis and their state-owned enterprises and avoid unemployment. So, they had three good reasons for doing three separate things. But they were trying to have the impossible trinity and as they say in Mundell-Fleming model would say, "You're going to fail." And they did fail. They started to fail, which is between late 2014 and late 2016, China lost one trillion dollars in reserves. That was exactly what Mundell would have predicted. The money will run out the door, because they think your fixed exchange rate is not sustainable, because your interest rate policy is too low, etc.

    They lost a trillion dollars. If you had extrapolated that. It's never a very good idea to extrapolate anything. But just as a thought experiment, if you had extrapolated that and further assuming that it accelerates, which historically, they do. China would have been broke by the end of 2017. Now what I said was, that's not going to happen. They're not going to let that happen. So, the question is, what are they going to do about it? Well, you had three choices. You could close the capital account, break the peg to the dollar, or raise interest rates. They decided to maintain the peg. They did the other two. They closed the capital account, pretty effectively for the time being. And they raised interest rates in lock step with the Fed.

    So, they gave up on two of the three legs, kept the third, which is the peg to the dollar. The yuan has been pretty constant against the dollar lately, which was done to, as we get into late 2016, early 2017 to appease Donald Trump, because remember Donald Trump was the one running around on the campaign trail saying, "China's the greatest currency manipulator of all time." While the last thing the Chinese needed was the devaluation. That would have played into Trump's hands, allowed them to slap on all kinds of trade sanctions and other punitive measures as a result of being labeled a currency manipulator, etc. Trump didn't do any of that for two reasons.

    One, China had maintained the peg, did not devalue further, they actually spent money to prop up the yuan. And two, Trump wanted China's help on North Korea, so he was willing to play nice in the economic sphere to get help in the geopolitical sphere. Now, both of those things are coming to an end, because they're not sustainable. And specifically, if you close your capital account – and they have done a pretty good job of that – they stopped the bleeding. But that has an effect on direct foreign investment and portfolio investment in China. Who wants to put their money in if you can't get your money out? The answer is nobody. So, their investment inflows are drying up. That's the other side of closing the capital account.

    Number two, this monetary tightening is creating a more difficult situation for the state-owned enterprises and other debtors, and China's just one big credit bubble, one big Ponzi waiting to burst. And three, it's now become apparent, literally a couple days ago, Trump sent out a tweet saying, "Looks like China can't help with North Korea, but at least they tried." Words to that effect. It's not the exact quote, but it's close enough. In other words, Trump is signaling that he believes China has failed or will fail to help with North Korea. And I think that's right. There isn't really a lot China can do about North Korea without risking war. China can do a lot with North Korea if they risk war. But they don't want to risk war and therefore, they won't do much. Therefore, Trump won't be satisfied and then he'll turn back to the currency war and other punitive measures that we talked about earlier.

    Now why is China doing all this? They're doing this to keep a lid on the situation, to avoid confrontation, avoid crises until President Xi gets, in effect, anointed or reconfirmed for a second term with certain conditions that make him the new Mao Tse-tung this fall. But once that happens, once he gets that power that he's looking for, and once it's apparent that Trump's going to play hard ball on the trade and currency issues, because China can't help with North Korea. He will have no further reason to maintain the peg. So, what I expect then is, they will go back to an open capital account. They will cut interest rates. But they'll reconcile the impossible trinity with a maxi devaluation of the Chinese yuan. The last two times that happened, the New York Stock market crashed. That was August 2015 and January 2016. So, look out below.

    It's going to be interesting times. And then I also expect a war with North Korea in 2018. You can see that playing out now. The war is coming. We've been warned by General Mathers. President Trump took the whole Senate up to the White House, basically told them this was going to happen. Orders have already been given. We're going to give diplomacy a chance and sanctions a chance in 2017, but my estimate is that they will not be fruitful and we'll go to war in 2018. So, 2018 is set to be a tumultuous year because of the Chinese shock devaluation and a war with North Korea.

    Mike Gleason: Well, Jim, once again, it's been a real pleasure to speak with you, and we certainly appreciate the time. Now before we go, please tell listeners about your latest book, The Road to Ruin as well as anything else you're working on these days or want folks to know about. And then also how they can follow your work more regularly.

    Jim Rickards:Thank you very much, Mike. As you mentioned at the beginning, I'm the editor of Strategic Intelligence, that's a newsletter from Agora Financial and a couple other newsletters with them. But Strategic Intelligence is our flagship newsletter. My latest book, The Road to Ruin from Penguin Random House, available on Amazon and leading bookstores. That covers a lot of the ground that we've covered in this interview. And I'm very active on Twitter. My Twitter handle is @JamesGRickards. It's about 10% Phillies baseball and random things, but 90% of it is the international monetary systems. So, I hope followers find that helpful. I'm also on another platform called Collide. Just Collide.com. It's a new platform, but I do weekly commentaries there.

    Mike Gleason: Well excellent stuff. We're grateful as always to have you on and for your time and your incredible insights. We certainly look forward to our next conversation, and I hope you enjoy your weekend and your summer. Thanks very much. Appreciate the time, Jim.

    Jim Rickards: Thank you.

    Mike Gleason: Well, that'll do it for this week. Thanks again to Jim Rickards, author of Currency Wars, The Death of Money, The New Case for Gold, and now The Road to Ruin, and also editor of the Jim Rickards’ Strategic Intelligence newsletter, be sure to check those out.

    Mike Gleason is a Director with Money Metals Exchange, a national precious metals dealer with over 50,000 customers. Gleason is a hard money advocate and a strong proponent of personal liberty, limited government and the Austrian School of Economics. A graduate of the University of Florida, Gleason has extensive experience in management, sales and logistics as well as precious metals investing. He also puts his longtime broadcasting background to good use, hosting a weekly precious metals podcast since 2011, a program listened to by tens of thousands each week.

    http://news.goldseek.com/GoldSeek/1499105176.php
     
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  14. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

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    Brace yourself, coming soon, to a bank account near YOU !!!
     
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  15. solarion

    solarion Gold Member Gold Chaser

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    If by "Brace" you mean lock & load...then I'm ready.
     
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  16. madhu

    madhu Silver Member Silver Miner

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    The ruling BJP party won in uttarpradesh elections defeating the yadavs. However people have started questioning the validity of elections and EVM.
     
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  17. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

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  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Sunday, July 9, 2017
    The Economist: World Currency By Jan. 9, 2018

    From The Economist:

    Get Ready For A World Currency

    [​IMG]

    Get Ready for the Phoenix
    January 9, 1988, Vol. 306, pp 9-10

    THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the last twentieth century.

    At the beginning of 1988 this appears an outlandish prediction. Proposals for eventual monetary union proliferated five and ten years ago, but they hardly envisaged the setbacks of 1987. The governments of the big economies tried to move an inch or two towards a more managed system of exchange rates – a logical preliminary, it might seem, to radical monetary reform. For lack of co-operation in their underlying economic policies they bungled it horribly, and provoked the rise in interest rates that brought on the stock market crash of October. These events have chastened exchange-rate reformers. The market crash taught them that the pretence of policy co-operation can be worse than nothing, and that until real co-operation is feasible (i.e., until governments surrender some economic sovereignty) further attempts to peg currencies will flounder.

    The new world economy
    The biggest change in the world economy since the early 1970’s is that flows of money have replaced trade in goods as the force that drives exchange rates. as a result of the relentless integration of the world’s financial markets, differences in national economic policies can disturb interest rates (or expectations of future interest rates) only slightly, yet still call forth huge transfers of financial assets from one country to another. These transfers swamp the flow of trade revenues in their effect on the demand and supply for different currencies, and hence in their effect on exchange rates. As telecommunications technology continues to advance, these transactions will be cheaper and faster still. With unco-ordinated economic policies, currencies can get only more volatile.
    ….
    In all these ways national economic boundaries are slowly dissolving. As the trend continues, the appeal of a currency union across at least the main industrial countries will seem irresistible to everybody except foreign-exchange traders and governments. In the phoenix zone, economic adjustment to shifts in relative prices would happen smoothly and automatically, rather as it does today between different regions within large economies (a brief on pages 74-75 explains how.) The absence of all currency risk would spur trade, investment and employment.

    The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF. The world inflation rate – and hence, within narrow margins, each national inflation rate- would be in its charge. Each country could use taxes and public spending to offset temporary falls in demand, but it would have to borrow rather than print money to finance its budget deficit. With no recourse to the inflation tax, governments and their creditors would be forced to judge their borrowing and lending plans more carefully than they do today. This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case. Even in a world of more-or-less floating exchange rates, individual governments have seen their policy independence checked by an unfriendly outside world.

    As the next century approaches, the natural forces that are pushing the world towards economic integration will offer governments a broad choice. They can go with the flow, or they can build barricades. Preparing the way for the phoenix will mean fewer pretended agreements on policy and more real ones. It will mean allowing and then actively promoting the private-sector use of an international money alongside existing national monies. That would let people vote with their wallets for the eventual move to full currency union. The phoenix would probably start as a cocktail of national currencies, just as the Special Drawing Right is today. In time, though, its value against national currencies would cease to matter, because people would choose it for its convenience and the stability of its purchasing power.
    …..
    The alternative – to preserve policymaking autonomy- would involve a new proliferation of truly draconian controls on trade and capital flows. This course offers governments a splendid time. They could manage exchange-rate movements, deploy monetary and fiscal policy without inhibition, and tackle the resulting bursts of inflation with prices and incomes polices. It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes.

    Just to be clear: This is NOT fāke™ news. It is an article from The Economist published 29 years and six months ago, today.
    We are counting down the minutes.

    http://climateerinvest.blogspot.com/2017/07/the-economist-world-currency-by-jan-9.html
     
  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    FWIW.............

    The War On Cash: Australia Considering Chipping Senior’s Money To Stop Them From Saving
    The Dollar Vigilante



    Published on Jul 8, 2017
     

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