JimBake: Back to the 3 immutable laws of RV….#1-no one knows when #2-no one knows how much #3- no one likes #1 and #2! 🙂
CharlieOK: The Oct 1 Chinese asset backed currency thingy is a huge boulder that is hmmmmm. going to be coming down the mountain tomorrow or the next day.
SassyD: I see, over & over, that China is going asset backed on Oct. 1….. my understanding is ONLY that China will be added to the IMF basket of reserve currencies on Oct 1. !!
Yada: Sassy,,,,that is it,,added to the IMF basket but that doesnt mean it is asset backed
Willydell: China has not said they are going to be asset/gold backed on Oct 1st, they are just becoming part of the SDR
CharlieOK: yada: Of course it probably is not and won’t be reported in the media. I’ve seen several internet articles about it. Tony and DC always taught that this is about assets backing the world’s worthless currency. China having gold, etc. to back a game plan of getting Iraqi oil for less than market.
Yada: Again folks,,your talking of markets,,one effect the other,,and IF there was a change in one, the others will take a serious look at the impact they are facing,,,,,,Not one article and this isnt something they can hide either….A good example is when the Feds were thinking of raising the rates to the government,,they anguished over it for 6 months before it happened and was reported in the news because the markets started swinging heavily one way and then the othere,,,,this would be the same,,,,
SassyD: I ‘believe’ that there is a Very Good chance China will become ‘Asset/Gold Backed’ very soon…. no specific date implied !!
CharlieOK: From day one it was explained to me that “this” was about a well devised plan to use the assets of Iraq, VN and China to revalue “baskets of currencies”. That has never been a question.
Yada: Charlie,,your correct….he dinar would be a highly valued currency held by all countries in the trades…doesnt mean the dinar is a asset but just a higher valued currency….the US is using the possession of the dinar, to trade for oil and such,,,,and compound that with the amount of dinar we are going to exchange,,we are doubling the total amount the US is holding…The US has trillions
Yada: ,the basel 1, 2, and 3? those programs were not creating an asset backed currency for later use,,,it was an international agreement to get banks to back the assets the banks were holding so if there was a failure, they’d have to relinquish their assets,,,,not a currency thing but a bank value,,,,a good example of a possible redemption to take place is Duetche bank,,, If they come close to failing,,their holdings, under the Basel program, would be first to go so their failure will not effect the to other banks around the world
CharlieOK: There are many more aspects of this than just holding dinar. After country X sells it’s dinar, then what are they going to do if they have very few raw resources? How does just dinar handle paying off all the trillions in derivatives? There has to be a way to reset the system as we know it now. The hole is too deep.
KingdomWarrior76: Who started the asset/gold backed rumor that people are clinging to now?
CharlieOK: Kingdom: The USA was on the gold standard in the 1970s. This isn’t anything new.
SassyD: My understanding is that the US threatened China about announcing it is asset/gold backed would be seen as a threat to the US economy and would be seen as a ‘act of war’ …. China is using other methods to get to the same point !!
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SassyD: “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.” — James Madison
“A theft of greater magnitude and still more ruinous, is the making of paper money; it is greater because in this money there is absolutely no real value; it is more ruinous because by its gradual depreciation during the time of its existence, it produces the effect which would be proration of the coins. All those iniquities are founded on the false idea the money is but a sign.”- Count Destutt de Tracy, 1754-1836
“If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash.”- George Washington, 1732-1799
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” . . . “Paper is poverty. It is the ghost of money and not money itself.”– Thomas Jefferson, 1743-1826
“The few who understand the system, will either be so interested from its profits or so dependent on its favors, that there will be no opposition from that class.” . . . “Let me issue and control a nation’s money and I care not who writes the laws.” – Mayer Amschel Bauer Rothschild, 1744-1812
The International Bankers–famous quotes about international bankers —https://prof77.wordpress.com/the-20/the-international-bankers-famous-quotes-about-international-bankers/
Airam: Hold fast to dreams, for if dreams die, life is a broken winged bird that cannot fly. Lanston Hughes
SassyD: Hot Mess: How Goldman Sachs Lost $1.2 Billion of Libya’s Money — September 29, 2016 — https://www.bloomberg.com/features/2016-goldman-sachs-libya/
