DID YOU KNOW?
When a project, any project, develops, they all follow a sequence of activities. A water plant, a bridge, a skyscraper, new technology, medical breakthroughs and so on.
First someone has an idea. Then the idea is drafted. Then all of the intricate detail to accomplish the draft is formulated. After the skyscraper is drafted up then they seek funding by loans or investors and everyone goes to work hiring the architects, surveyors, construction workers in electrical, plumbing, concrete, steel, planners and any other goods and services required to complete the task.
Generally speaking, no project is developed unless there is a specific need or an existing situation that is either broke, needs updated or upgraded. Things developed with no purpose we call ART. (Whose only purpose is to stimulate emotions and thought)
In this respect the GCR/RV, is no different. It would be stating the obvious that global financial system is broke needs upgraded and updated.
The absolute need for news technologies to ensure the survival of humanity is without question. We have to keep in mind though that the GCR is like any other initiative or project. The only difference I can see is the mass amount of effort be narrated to establish the perception of its need.
The GCR/RV was conceived as a solution to mitigate the global financial crisis, but, as in my skyscraper metaphor, it now has to be implemented and the functionality components passed down to the layers of individuals and entities to build it.
I.E. (F.A.T.C.A -Foreign Account Tax Compliance Act, A.I.I.B, BRICS, C.I.P.S, Quantum Financing, Treaties, Message delivery systems, Banking reforms (Basel III and IV), BREXIT, the Gold Standard, Tax Reform, measures to curb corruption, security measures and those are just a few of what are known functional entities required.
Think about all the other functional support entities we don’t know about, or can even conceive exist, to allow this event to manifest. Then apply the thought process to 209 countries on an individual basses. Then think of the massive effort and thousands of people needed to coordinate 209 counties.
The delays are constant because of the scale of the coordination. It could be as simple as someone not showing up to work that day or as complex as an International Treaty needs signed or created. We don’t know and will never know.
The public or “we the people” are the beneficiaries of this mass effort not the architects of its functionality. As such, we all must focus on our individual roles as a pending beneficiary.
I strongly recommend, as a beneficiary, your time would be better served preparing and focusing on your project formulation and documentation requirements. You need to be versed and confident in your project presentation and the only way to do that is to educate and constantly be re-evaluating, your projects, for flaws and omissions.
I have spent years attempting to educate our readers on the various “functional entities” and components, in motion, that are a necessity for the GCR deployment and only touched the tip of the iceberg of what’s actually is out there. The control mechanisms that dictate financial movements are vast and seem without end.
As far as the GRC itself goes it appears that momentum is at an all-time high. It has been suggested that funds have been distributed to the SKRs (safe keeping receipts) and groups and will have liquidity in some fashion and was expected by Friday night April 12th 2019.
Delays in procedure hiccups with the military have been resolved but took a couple more days. Everyone in the U.S will benefit in some fashion. The rates are supposed to be locked in but we have not seen verifications as of yet.
The fees and penalties and other prominent prosperity programs are said to be hydrated and ready for distribution. Issues with USN or USD delivery has interfered with liquidity but also seems to be getting resolved.
Asia and Hong Kong procedures are said to be complete and it has been stated in the past, that within 48 hours we would see the 800s. The main thing is the USN is live but will not be made public until the 800 numbers are presented. Things are now at the administrative reviews process which is the final arm prior to distribution.
Again it gets backs to the administration of the functional components that are needed to facilitate fund deliveries. Refereeing to my metaphor, you can’t bring in the painters until the walls are up. Everyone must show up to work and do their job. Let’s hope this time they do. There has been enough false starts, the race needs to start.
In the meantime follow my advice and be prepared. No sense in worrying about things you can’t effect or change. There are thousands of pieces to this puzzle but we are finally seeing the picture on the box come to life.
On a side Note:
I was contacted by the ASEAN+3 Macroeconomic Research Office (AMRO) to correct some factual errors in a specific paragraph in the April 7 2019 post due to exclusions presented in my article. AMRO’s core functions are conducting macroeconomic surveillance for its members and supporting the Chiang Mai Initiative Multilateralisation (CMIM).
“Hong Kong Monetary Authority and South Korea ($83 Billion Betrayal):
Both have joined and expanded their roles in the CMIM, or Chiang Mai Initiative Multilateralization, which is a currency swap (previously stated as non-dollar currency swap) agreement with the 10 ASEAN nations (Indonesia, Cambodia, Brunei, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam)” the + 3 China (including Hong Kong), Japan, and Korea.”
The Chiang Mai Initiative (CMI) comprised a network of bilateral swap agreements among members that was multilateralized into a single contractual agreement called the CMIM in 2010. With the current size of USD240 (240 is a currency code referring to a specific date), the CMIM aims to address balance of payment and/or short-term USD liquidity difficulties in the ASEAN+3 region.
In all fairness and to accommodate being as accurate as possible in any presentation, I agreed to post the error corrections. BUT! Let’s be clear of the intent of the post. These countries and more have thrived on the U.S Dollar because their own fiscal and monetary policies suffer ongoing mass failures. Their own populations have no confidence in their governments’ abilities to manage fiscal and monetary policy so they lean on the strength of U.S. has their savior.
When the time comes where the U.S. needs these countries to retain their U.S. currency reserves, not only do they bale out they form cooperatives to increase their dedollarization.
Network externalities drive and effect fiscal and monetary policies in these Asian countries. Externalities refer to conditions where it is convenient for all households and firms to have foreign currencies when a large number of people use and accept foreign currency for payments. Cambodia for example has been as high as 95% U.S.D in their Foreign Currency Deposits or FCDs per the data from the National Bank of Cambodia. Keep in mind Cambodia never “officially” adopted dollarization but remains one of the most dollarized economies on the planet.
The rest of the CMIM participating countries likewise are heavily dollarized. Unintended dollarization causes multiple problems with a countries’ management of its monetary policies. With the heavy use of foreign currencies a country has limited control of the effective level of their money supply, it can undermine the development of financial markets, including the stock market and the interbank markets.
If the interbank markets don’t develop it creates low demand for government issued bonds denominated in the local currency and can affect the monetary and exchange rates policies. But instead of adopting the U.S. Dollar that has been their savior these nations and more are migrating to other currencies such as the Yuan, dumping the U.S. Dollar and leaving the U.S. holding the bill. Thanks for nothing you ungrateful @#/*%@#$%& .
Things are looking amazing on the GCR front, Hold on to your seat.