Is The Dollar Under Attack?
The confused looks on traders faces is the “Taper-On” reaction in stocks (after celeberating last night’s false Chinese trade data) as the USD loses steam. Critically, the USD weakness (more usually associated with Taper-off (print-moar-on) is indicative of the ongoing collapse in the JPY-carry trade once again that is gaining momentum as data (and technicals) prompt a Taper sooner than later. US equities are starting to catch down to foreign stocks (and domestic credit), Treasuries are bid (but the Taper?) on safe-haven buying, and gold and silver are spiking as the USD comes under attack…
Both China and Russia have begun discussing a new Bretton Woods-style agreement which would back the Yuan with gold and change the very fabric of the international monetary system. This concept falls right in line the developing nations’ demand for a replacement of the U.S. dollar, and, the IMF’s new Special Drawing Rights currency, which is partially valued in gold, and backed by the IMF’s unaudited gold horde:
JP Morgan fleeing commodities markets? Paper gold decoupling from physical gold? China and Russia suggesting a new Bretton Woods? Is this a signal for something monolithic on the horizon for the global economy? If there is a sudden shift by developing nations away from the dollar and towards a basket currency system partially valuated in gold, this would be disastrous for the American fiscal structure. I have been tracking the slow dump of the greenback since 2006, and I have to say, I’ve never seen escalation like I have seen in the past year. If foreign central banks are planning to drop the dollar as the world reserve, their behavior in metals markets suggests they may be ready to act soon.
The Fed’s in a corner, economist Galbraith says
Q&A: Galbraith says Obama should call for $12/hour minimum wage
WASHINGTON (MarketWatch) — The Federal Reserve has backed itself into a corner and is finding it hard to get out — and President Barack Obama won’t have much more luck trying to reform the big mortgage-buying giants.
MarketWatch : Lot of talk about whether the Federal Reserve can taper — what’s your take?
Galbraith : I have been saying for a long time that the Fed is stuck, that it has backed itself into the zero-interest-rate posture and into the holdings that it has of mortgage-backed securities, and there is now a general expectation of low long-term interest rates going into the future. The process of trying to reverse that is going to cause a lot of turmoil and the Federal Reserve doesn’t like turmoil, so it is probably not going to do it.
The Significance of the Global Currency Reset
The global currency reset looms, as Scott Mowry has so eloquently described. (1) Its date keeps getting set back and everything about it is kept firmly under wraps so we can only guess at the reasons for the postponement. But it’s coming nonetheless.
The “reval” (revaluation), as it’s called, will create a large number of people becoming “instant millionaires.” This alone is a declaration that the time of corraling wealth for the one percent is over.
The reval is expected to be followed soon after by at least the prosperity packages, which will further dent the elite’s control of wealth. The various steps of Pre-NESARA (for lightworkers) and NESARA (for everyone) are said to follow after that, although no one knows the order or the dates.
The global reset has tremendous significance for me, quite apart from making many people much more prosperous and being an injection back into the economy in ever-widening circles.
Global Reset and Currency Revaluation explained !
• Historic progress towards freedom made in last six weeks alone
• Return of the US to the gold standard close at hand
• A world of transparency and disclosure rapidly emerging
The grand plan we are
witnessing now is nothing less than historic.
The grand plan we are witnessing now is nothing less than historic. Yes,historic. Let’s take a quick review of what has transpired over the last six weeks or so.
– June 7 – 9th: President Barack Obama and Chinese President Xi Jingping meet in Palm Springs, California for negotiations on the Basel III accords, the Global Currency Reset and the Restoration of the Republic.
– June 27th: The United Nations Security Council votes 15 – 0 to lift Chapter 7 sanctions against the country of Iraq after nearly 23 years of hardships on the Iraqi people. This is Iraq’s biggest achievements since the ouster of Saddam Hussein a decade ago, allowing Baghdad to regain control over its own currency, oil and economy.
– June 28th: An accountant employed at the Vatican bank, Monsignor Nunzio Scarano, is arrested and charged with smuggling large caches of money across international borders.
– July 1st: Two top officials at the Vatican Bank resign amid a growing money laundering scandal as rumors continue to swirl Pope Francis may shut down the scandalous and criminal Vatican Bank entirely.
– July 10th: Treasury Secretary Jack Lew meets with a Chinese delegation to work out final details of the Global Currency Reset.
– July 11th: An updated version of the Glass – Steagall Act is reintroduced for vote in the US Senate led by Senators Elizabeth Warren (D-Mass.) and John McCain (R-Ariz.) which would require all the major, “too-big-to-fail” banks to be completely overhauled and downsized.
– July 15th: The Iraqi Stock Exchange opens for international trading for approximately two hours to test if their system interfaces correctly with NASDAQ. In order for the ISX to conduct international trading, the logical next step is for Iraq to revalue their dinar in order to have an internationally recognizable currency.
– July 18th: Confirmed reports emanating out of the United Nations (UN) insist the revaluation of the Iraqi dinar was announced within the UN itself by two foreign countries, one of which may have been the delegation from Iraq.
– July 20th: Fox News briefly reports US Secretary of State John Kerry offering confirmation of the adoption of the Basel III banking regulations.
– July 21st: Numerous reports of banks across the US, and apparently some in the UK, announcing to their customers various down times for system maintenance including the international service known as SWIFT (Society for Worldwide Interbank Financial Telecommunications).
– July 23rd: More rumblings coming out of the UN as a growing chorus of impatience continues to swell amongst some its member nations who openly question why the Global Currency Reset has not been enacted yet.
By any stretch of the imagination, the sheer number of astounding events listed above marks nothing less than a complete changing of the guard. These kinds of developments would not even happen, if the old regime was still in charge. We simply have not seen this kind of significant activity on both a national and international scale ever, ever before.
We’re In The Midst of A Global Currency Reset
Let’s examine the rumors that are floating around.
1. The Fed Reserve will merge or absorb into the UST
2. There IS a global event that has been unfolding during the past ten-plus years. The Basel III Protocols (which includes the Global Currency Reset) have required the cooperation of many nations — 198, to be exact.
3. What gets in the way from time to time with regard to this Global Currency Reset (as has just happened in the past few days) is political maneuvering and disagreements that delay things.
4. Fiat currency is becoming a thing of the past due to ongoing pervasive fraud and devaluation of paper currency – now it will have to be backed by assets (precious metals, oil, etc.) China would like to take over the US’s position as holding the world’s reserve currency in hopes to have their currency backed by gold. However, Clinton mentioned in one of her speeches that Iraq will become the richest nation in the world due to its oil reserves. Thereby, numerous nations that hold the Iraqi Dinar are looking to the IQD becoming the global reserve currency.
Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk. It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010–11, and was scheduled to be introduced from 2013 until 2015; Basel III was supposed to strengthen bank capital requirements by increasing bank liquidity and bank leverage.
5. Precious metals (gold and silver) prices are manipulated. Currently the price is dropping. Why? Something big is about to happen. What?
The Global Currency Reset will take those 198 nations currency and revalue it up or down based upon that country’s assets. For example, Canada will go up about 20 cents, along with the Dong and IQD going up. The USD may go down or not depending upon how much IQD they have in reserve – and because O had all the other nations that owe the US money agree to pay back what they owe when the reset happens taking the US out of debt.
Since the US has billions worth of UQD they can do several things. Exchange the IQD for gold thus taking the USD back to the gold standard. Hence the current USD will be collected and replace by the new currency. New currency expected to be distributed in the fall.
6. At the G-8 summit this year the talk among nations was how to collect taxes from tax dodgers. Basically the global banking system is tightening up its agreements between nations and will identify those who have been slipping through the current tax holes. Thus more tax return money for the nations who track down their tax dodgers.
So instead of a crash – which is inevitable given the current fiscal structure, there will be a Global Currency Reset which is in the works.
This aired on Bloomberg TV on July 25th. It is the FIRST time it has EVER been mentioned in the mainstream media…
INFLATION FASTER THAN THE SPEED OF LIGHT - THE PHOTON BOOM
Many people are concerned about why the Dollar has an Invisible Velocity,
and it does not seem to be creating very much inflation at the current time…
Something is very clear…
We know that the Dollar is already printing at close to the Speed of Light.
LIGHT IS 6 Trillion Miles per Year…….DOLLAR QE 2 Trillion Dollars per Year
What we don’t know is where it is going to go, or if it will come to an end at some point, but this is what everyone would like to figure out…
As it turns out, there is one very crucial climax to all of this,
and we are not far away from its peak!
You are familiar with the Speed of Sound and what happens when someone breaks the Speed of Sound?
IT IS A SONIC BOOM, because there is a conflict at the passing of this point.
In the same light, I am offering a point in time, that the Dollar,
may more than likely experience a very powerful conflict as well.
Peter Schiff – FED Will Continue To Ruin And Cause The US Economy To Collapse!