International Monetary Fund Managing Director Christine Lagarde and some two dozen officials on the fund’s executive board will gather Monday at headquarters in Washington for one of the most-anticipated decisions outside of actually approving loans for nations in crisis.
The question inside the 12th-floor, oval boardroom: whether to grant China’s yuan status as a reserve currency by adding it to the fund’s Special Drawing Rights basket. The SDR, created in 1969, gives IMF member countries who hold it the right to obtain any of the currencies in the basket — currently the dollar, euro, yen and pound — to meet balance-of-payments needs.
QUICKTAKE
The People’s Currency
While there’s little suspense in the main thrust of the expected approval — Lagarde already announced that fund staff had recommended the yuan be included and that she supported the finding — the IMF is likely to give more details on how it arrived at the decision.
The IMF’s highest decision-making body is its board of governors, a group of mostly finance ministers and central bankers from its 188 member countries. The board of governors has delegated most of its powers to the executive board, made up of 24 executive directors who represent the membership. The meeting Monday has been classified as “restricted,” meaning no support staff will be allowed to attend.
China’s yuan has weakened against the dollar over past two years
China’s yuan has weakened against the dollar over past two years
The executive board, which meets more than 200 times a year, usually makes decisions based on consensus, rather than formal votes. Mark Sobel, the U.S. executive director who answers to the Obama administration, wields the most power, with a 17 percent voting stake. Together, the Group of Seven countries control 43 percent of the vote, making them a formidable bloc. China, which holds a 3.8 percent voting share, is represented by former People’s Bank of China official Jin Zhongxia.
Here’s what to look for in Monday’s decision and its immediate aftermath:
Whether Yuan Deserved It
In her Nov. 13 statement, Lagarde said staff determined the yuan is “freely usable,” the test for inclusion. But five months ago, the currency appeared to fall short of the mark. Following Monday’s decision, the IMF will probably release a detailed staff report on the review, shedding more light on how the fund’s economists arrived at the new conclusion.
According to the fund, freely usable currencies must be widely used to make payments in global transactions, and widely traded in major exchange markets. Key indicators include the share a currency makes up of official reserves, international banking liabilities and global debt securities, as well as the volume of use in foreign-exchange markets.
In a July report, IMF officials found the yuan ranked seventh among currencies as a share of official reserves, behind the four SDR members as well as the Australian and Canadian dollars. The yuan constituted 1.1 percent of official reserves, compared with 63.7 percent for the U.S. dollar. The yuan also ranked outside the top five in terms of debt securities and currency trading, according to the report.
It’s unlikely the currency’s use has surged enough to put it in the top five of the IMF’s key statistics, according to Ted Truman, a former Federal Reserve and U.S. Treasury official. China’s actions to address deficiencies mentioned in the earlier report represent “progress, but these new procedures have no established track record,” Truman, a senior fellow at the Peterson Institute for International Economics, said in a Nov. 17 blog post.
A working group that includes former Treasury secretaries Henry Paulson and Timothy Geithner hopes to build a framework for the trading and clearing of the Chinese currency in the U.S., the Wall Street Journal reported Monday, citing a statement from Michael Bloomberg, who will chair the group. Michael Bloomberg is the founder and majority owner of Bloomberg LP, the parent of Bloomberg News.
“SDR status could be a catalyst for central bank foreign-exchange reserve managers, sovereign wealth funds and other major money managers to shift funds into yuan,” Tom Orlik, Bloomberg Intelligence’s chief Asia economist, said in a note.
Weighting in Basket
The board’s decision should include the weighting the yuan will be assigned within the basket, and the staff paper may explain the basis for the proportion. The dollar currently accounts for 41.9 percent of the basket. The euro accounts for 37.4 percent, the pound 11.3 percent and the yen 9.4 percent.
In the preliminary report in July, IMF staff estimated the yuan would have a weight of about 14 percent to 16 percent.
The weighting will affect the interest countries pay when they borrow from the IMF.
Political Reaction
The reaction to the decision by governments and politicians will show how much of a flash point China’s economic and political rise remains in the world.
The U.S., in particular, will have to walk a fine line. The Obama administration initially insisted China implement more financial reforms to win America’s support for the yuan’s inclusion in the SDR basket.
But after presidents Barack Obama and Xi Jinping met at the White House in September, the administration softened its position, saying the U.S. would support inclusion as long as the yuan meets the IMF’s criteria.
An overly enthusiastic U.S. response could inflame politicians on both sides of the aisle. Republican presidential candidate Donald Trump has said he would declare China a currency manipulator on “day one” if elected. Democratic Senator Charles Schumer of New York has pushed for Congress to pass measures to discourage currency manipulation by the Chinese.
More Reform Conditions
To give SDR users the time to adjust, the IMF has decided any changes to the basket will wait until the end of September.
In their July report, fund staffers highlighted a range of operational challenges of adding the yuan to the basket. Countries that hold SDRs, for example, need to have access to yuan-dominated securities to manage their reserves and hedge risks. Also, the IMF will need to identify a reliable interest-rate benchmark to calculate the rate paid by SDR borrowers.
China has addressed some of these issues, committing to issue three-month treasury bills every week and opening its onshore bond and currency markets to foreign central banks.
But the IMF will probably require more conditions to smooth the transition, said Domenico Lombardi, director of the global economy program at the Centre for International Governance Innovation in Waterloo, Ontario. The IMF will likely seek further assurance that benchmark exchange and interest rates for the yuan will be available, he said.
Lombardi said the fund may also seek a commitment from the People’s Bank of China to refrain from currency interventions — a pledge that will make support for the yuan’s inclusion in the SDR more politically acceptable for other countries.
“The IMF membership have come to grips with the fact the renminbi has capital controls, but the PBOC’s commitment will be key,” Lombardi said, referring to the currency’s official name.
Category Archives: 3. NW Currency
Enter the Dragon: Chinese Yuan to Become Global Reserve Currency
China’s Yuan Approved By IMF As A Main Currency
U.K. Sells Bonds In China’s Currency, Adding Pressure On Dollar
This article was written by Alex Newman and originally published at The New American
Amid fast-growing pressure on the U.S. dollar’s status as the global reserve currency, authorities in the United Kingdom this week successfully issued sovereign bonds denominated in Communist China’s strictly controlled currency known as the yuan or renminbi. It was the first such bond issue in the Western world, and the largest non-Chinese bond ever sold, according to news reports. While the initial scheme was relatively small — worth about US$500 million, contrasted with about US$200 billion in yearly U.K. government borrowing — its implications for the dollar and the international monetary system could be profound in the longer term, analysts said.
The move by London is part of a broader trend that includes, among other elements, coordinated efforts by top establishment insiders from around the world to drastically re-shape the international monetary system. Essentially, the planet is gradually shifting away from the dollar as the unchallenged global reserve and moving toward a globalized currency regime run by the International Monetary Fund and other global institutions. The U.K.’s yuan-denominated bond issue came after the IMF boss said the outfit might someday move to Beijing from D.C., even as the Communist dictatorship there called for a “de-Americanized” so-called “New World Order.”
According to the IMF, China’s economy recently surpassed the U.S. economy as the largest in the world. While the claims are seriouly flawed, the announcement made major waves. Meanwhile, serious calls for an IMF-run planetary currency system have also grown louder around the world in recent years. Those calls feature escalating demands from governments everywhere for the expansion of the basket of currencies underpinning the IMF’s proto-global currency, known as Special Drawing Rights (SDRs), to include the yuan and other currencies of totalitarian-minded regimes.
In a 2009 report, the Chinese “people’s” central-bank boss, Zhou Xiaochuan, explained that “the desirable goal of reforming the international monetary system… is to create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies.” When asked about the Communist Chinese regime’s plot at a Council on Foreign Relations event, then-U.S. Treasury Secretary Timothy “TurboTax” Geithner said, “We’re actually quite open to that.” With this week’s developments, that vision moved one step closer to becoming reality.
According to U.K. officials, proceeds from the bond issue will be used for the U.K. government’s foreign-exchange reserves, adding to the U.S. dollars, euros, Japanese yen, and Canadian dollars it already holds. Analysts said the move signals the yuan’s potential future as a global reserve currency. But the significance goes well beyond that. “For the U.K. it represents another attempt to become the eminent world financial center,” observed American economist Mark Thornton, a senior fellow with the Ludwig von Mises Institute. “For the U.S. it represents another small blow to the status of the dollar and U.S. financial markets.”
“The U.S. dollar has already lost its near monopoly position as a reserve currency and medium of international trade,” continued Thornton, associated with the free market-oriented Austrian school of economics. “The competitive position of the Chinese renminbi continues to improve in small ways. The question is whether this will be a multiple decade competition between the dollar and the renminbi, or whether the ‘dam will break’ like it did in WWI when the eminent currency status changed from the British pound to the US dollar.” He called the U.K. announcement the “first trickle through the dam.”
U.K. officials did not touch on the broader implications of the move. Still, U.K. Treasury chief George Osborne celebrated the sovereign renminbi bond issue as a “great success” that will supposedly “deliver value for money to taxpayers,” despite it costing more than raising the funds in other currencies. “Our long term economic plan is working, but the job isn’t done,” said Chancellor Osborne, who recently met with Communist Chinese bigwigs and other leading globalists at the secrecy-obsessed Bilderberg summit in Copenhagen. “We need to export to fast growing economies like China, and attract more investment to our shores.”
To achieve those goals, Osborne claimed, “we need to make sure China’s currency is used and traded here, as that will be not only good for China, but good for British jobs and investment too.” Claiming London was “the global center for finance,” the controversial U.K. Treasury boss also said he was “delighted” to have taken the next big step in making the city “a major global center for trading and investing the [sic] Chinese currency too.” Numerous analysts also highlighted the importance of the bond issue, which came after the U.K. sold Islamic sharia-compliant bonds this summer, in further boosting London’s role as a key center for trade in yuan.
The yuan-denominated debt, referred to as “Dim Sum bonds,” is set to mature in three years. The U.K. issue — a major step toward further internationalizing the Chinese currency — was organized by Bank of China, HSBC, and Standard Chartered. Despite being loosened considerably in recent years, the yuan still faces heavy official restrictions on convertibility and non-domestic use. Many of those impediments to its more widespread use in trade and finance outside of China, though, are expected to be axed in the coming years — making the yuan even more appealing as a potential reserve. More than a few major companies have also issued yuan-denominated bonds in recent years.
Already, the renminbi has overtaken the euro, the troubled single European currency, as the top currency used in global trade finance after the U.S. dollar, according to Bloomberg. Demand for the new bonds was strong, too, pushing down the rate from the expected 2.9 percent to 2.7 percent. The U.K. Treasury’s move “recognizes the importance of renminbi as a reserve currency,” chief executive Au King Lun with Bank of China’s Hong Kong Asset Management was quoted as saying in the Wall Street Journal. “Other countries have exposure to renminbi but the U.K. is the first one to issue bonds in renminbi. It’s a very significant development.”
Writing in Forbes, Fellow Tim Worstall at the London-based Adam Smith Institute explainedanother key element of the U.K. move. “The basic thought here is that in order to construct a viable bond market you want to have some sovereign issues in that currency or of that structure to act as the risk free benchmark for other issuers,” he said. “It would be entirely possible for a corporate to issue renminbi bonds in London. It’s just that no one would really have any idea how to price it: there would be no comparators. Thus such borrowing would be very expensive: uncertainty over price in financial markets tends to make the price rather high. So issue sovereign bonds and that issue or issues can act as that pricing benchmark.”
Since World War II, the U.S. dollar has served as the world reserve currency. Initially, the privilege resulted from America’s unchallenged global power and the currency’s gold backing. When President Nixon severed the final link between the dollar and the precious metal in 1971, however, the Federal Reserve’s currency maintained its dominance because oil was priced in dollars — hence the term “petrodollar.” With the privately owned U.S. central bank conjuring unfathomable amounts of debt-backed dollars into existence, and with the globalist establishment increasingly working to dethrone the currency, analysts widely expect the dollar’s status as the global reserve to end. It may be sudden, or it may be slow, but it will come.
The Communist Chinese regime, which originally seized power with key support from the same globalist establishment that is still helping to orchestrate its rise to what billionaire George Soros touted as the leader of the “New World Order,” is playing a crucial role in the quiet de-dollarization process. From sidelining the U.S. dollar in international trade to using its propaganda organs to demand a “de-Americanized” world order, Beijing may end up being among the most important players in the demise of the dollar outside of the Federal Reserve and the U.S. government.
Of course, if and when the dollar eventually loses its status as the global reserve currency, the implications for Americans and the U.S. economy would be hard to overstate. The gargantuan trade deficits fueled by government and central-bank policy, for example, would come to a screeching halt as prices for imports skyrocketed. The outlandish borrowing and spending spree taking place in Washington, D.C., meanwhile, would also have to end abruptly unless the Fed continued printing ever-greater sums of currency and loaning it to the government (with impossible-to-pay interest attached) — fueling an even more extreme collapse in the value of the dollar. Non-financial consequences could prove even more disastrous.
The good news is that the solution to the potentially looming calamity is relatively simple: Restore sound money and force the feds to obey the U.S. Constitution. However, that will require overwhelming public pressure on Congress, which at this point does not seem likely to materialize in time.
Signs Of The New World Order
“new world order” is used to refer to any new period of history of dramatic change in world political thought and the balance of power. Despite various interpretations of this term, it is primarily associated with the ideological notion of global governance only in the sense of new collective efforts to identify, understand, or address worldwide problems that go beyond the capacity of individual nation-states to solve.
for those who still have dough there is a little more on this topic some important point mention above together her with the step on how the nwo will form
our leader of our society who all belong to the secret society are busy fine tuning if it not complete already the nwo again there is proof that secret society exit
our vleader who are a part of secret society hold meating to discuss and drafted thing like your new world currency and there what it will look like for now
this is what your nwo currency will look like
until they start with the rfid chip that will control your life first by getting you off the money system which i think will be mandatory by 2017
these same secret society are forming a one world religion that religion i think is Islam with Christianity mix with it .
this umbrella group / religion is chrislam and it located in Berlin the seat of Satan
Perhaps the best way to relate this would be a brief history of the New World Order, not in our words but in the words of those who have been striving to make it real.
1912 — Colonel Edward M. House, a close advisor of President Woodrow Wilson, publishes Phillip Dru: Administrator in which he promotes “socialism as dreamed of by Karl Marx.”
1913 — The Federal Reserve (neither federal nor a reserve) is created. It was planned at a secret meeting in 1910 on Jekyl Island, Georgia by a group of bankers and politicians, including Col. House. This transferred the power to create money from the American government to a private group of bankers. It is probably the largest generator of debt in the world.
May 30, 1919 — Prominent British and American personalities establish the Royal Institute of International Affairs in England and the Institute of International Affairs in the U.S. at a meeting arranged by Col. House attended by various Fabian socialists, including noted economist John Maynard Keynes. Two years later, Col. House reorganizes the Institute of International Affairs into the Council on Foreign Relations (CFR).
December 15, 1922 — The CFR endorses World Government in its magazine Foreign Affairs. Author Philip Kerr, states:
“Obviously there is going to be no peace or prosperity for mankind as long as [the earth] remains divided into 50 or 60 independent states until some kind of international system is created… The real problem today is that of the world government.”
1928 — The Open Conspiracy: Blue Prints for a World Revolution by H.G. Wells is published. A former Fabian Socialist, Wells writes:
“The political world of the … Open Conspiracy must weaken, efface, incorporate and supersede existing governments… The Open Conspiracy is the natural inheritor of socialist and communist enthusiasms; it may be in control of Moscow before it is in control of New York… The character of the Open Conspiracy will now be plainly displayed… It will be a world religion.”
1931 — Students at the Lenin School of Political Warfare in Moscow are taught:
“One day we shall start to spread the most theatrical peace movement the world has ever seen. The capitalist countries, stupid and decadent … will fall into the trap offered by the possibility of making new friends. Our day will come in 30 years or so… The bourgeoisie must be lulled into a false sense of security.”
1931 — In a speech to the Institute for the Study of International Affairs at Copenhagen) historian Arnold Toyee said:
“We are at present working discreetly with all our might to wrest this mysterious force called sovereignty out of the clutches of the local nation states of the world. All the time we are denying with our lips what we are doing with our hands….”
1932 — New books are published urging World Order:
Toward Soviet America by William Z. Foster. Head of the Communist Party USA, Foster indicates that a National Department of Education would be one of the means used to develop a new socialist society in the U.S.
The New World Order by F.S. Marvin, describing the League of Nations as the first attempt at a New World Order. Marvin says, “nationality must rank below the claims of mankind as a whole.”
Dare the School Build a New Social Order? is published. Educator author George Counts asserts that:
“… the teachers should deliberately reach for power and then make the most of their conquest” in order to “influence the social attitudes, ideals and behavior of the coming generation… The growth of science and technology has carried us into a new age where ignorance must be replaced by knowledge, competition by cooperation, trust in Providence by careful planning and private capitalism by some form of social economy.”
1933 — The first Humanist Manifesto is published. Co-author John Dewey, the noted philosopher and educator, calls for a synthesizing of all religions and “a socialized and cooperative economic order.” Co-signer C.F. Potter said in 1930:
“Education is thus a most powerful ally of humanism, and every American public school is a school of humanism. What can the theistic Sunday schools, meeting for an hour once a week, teaching only a fraction of the children, do to stem the tide of a five-day program of humanistic teaching?”
1933 — The Shape of Things to Come by H.G. Wells is published. Wells predicts a second world war around 1940, originating from a German-Polish dispute. After 1945 there would be an increasing lack of public safety in “criminally infected” areas. The plan for the “Modern World-State” would succeed on its third attempt (about 1980), and come out of something that occurred in Basra, Iraq. The book also states,
“Although world government had been plainly coming for some years, although it had been endlessly feared and murmured against, it found no opposition prepared anywhere.”
1934 — The Externalization of the Hierarchy by Alice A. Bailey is published. Bailey is an occultist, whose works are channeled from a spirit guide, the Tibetan Master [demon spirit] Djwahl Kuhl. Bailey uses the phrase “points of light” in connection with a “New Group of World Servers” and claims that 1934 marks the beginning of “the organizing of the men and women… group work of a new order… [with] progress defined by service… the world of the Brotherhood… the Forces of Light… [and] out of the spoliation of all existing culture and civilization, the new world order must be built.”
The book is published by the Lucis Trust, incorporated originally in New York as the Lucifer Publishing Company. Lucis Trust is a United Nations NGO and has been a major player at the recent U.N. summits. Later Assistant Secretary General of the U.N. Robert Mueller would credit the creation of his World Core Curriculum for education to the underlying teachings of Djwahl Kuhl via Alice Bailey’s writings on the subject.
1932 — Plan for Peace by American Birth Control League founder Margaret Sanger (1921) is published. She calls for coercive sterilization, mandatory segregation, and rehabilitative concentration camps for all “dysgenic stocks” including Blacks, Hispanics, American Indians and Catholics.
October 28, 1939 — In an address by John Foster Dulles, later U.S. Secretary of State, he proposes that America lead the transition to a new order of less independent, semi-sovereign states bound together by a league or federal union.
1939 — New World Order by H. G. Wells proposes a collectivist one-world state”‘ or “new world order” comprised of “socialist democracies.” He advocates “universal conscription for service” and declares that “nationalist individualism… is the world’s disease.” He continues:
“The manifest necessity for some collective world control to eliminate warfare and the less generally admitted necessity for a collective control of the economic and biological life of mankind, are aspects of one and the same process.” He proposes that this be accomplished through “universal law” and propaganda (or education).”
1940 — The New World Order is published by the Carnegie Endowment for International Peace and contains a select list of references on regional and world federation, together with some special plans for world order after the war.
December 12, 1940 — In The Congressional Record an article entitled A New World Order John G. Alexander calls for a world federation.
1942 — The leftist Institute of Pacific Relations publishes Post War Worlds by P.E. Corbett:
“World government is the ultimate aim… It must be recognized that the law of nations takes precedence over national law… The process will have to be assisted by the deletion of the nationalistic material employed in educational textbooks and its replacement by material explaining the benefits of wiser association.”
June 28, 1945 — President Truman endorses world government in a speech:
“It will be just as easy for nations to get along in a republic of the world as it is for us to get along in a republic of the United States.”
October 24, 1945 — The United Nations Charter becomes effective. Also on October 24, Senator Glen Taylor (D-Idaho) introduces Senate Resolution 183 calling upon the U.S. Senate to go on record as favoring creation of a world republic including an international police force.
1946 — Alger Hiss is elected President of the Carnegie Endowment for International Peace. Hiss holds this office until 1949. Early in 1950, he is convicted of perjury and sentenced to prison after a sensational trial and Congressional hearing in which Whittaker Chambers, a former senior editor of Time, testifies that Hiss was a member of his Communist Party cell.
1946 — The Teacher and World Government by former editor of the NEA Journal (National Education Association) Joy Elmer Morgan is published. He says:
“In the struggle to establish an adequate world government, the teacher… can do much to prepare the hearts and minds of children for global understanding and cooperation… At the very heart of all the agencies which will assure the coming of world government must stand the school, the teacher, and the organized profession.”
1947 — The American Education Fellowship, formerly the Progressive Education Association, organized by John Dewey, calls for the:
“… establishment of a genuine world order, an order in which national sovereignty is subordinate to world authority… “
October, 1947 — NEA Associate Secretary William Carr writes in the NEA Journal that teachers should:
“… teach about the various proposals that have been made for the strengthening of the United Nations and the establishment of a world citizenship and world government.”
1948 — Walden II by behavioral psychologist B.F. Skinner proposes “a perfect society or new and more perfect order” in which children are reared by the State, rather than by their parents and are trained from birth to demonstrate only desirable behavior and characteristics. Skinner’s ideas would be widely implemented by educators in the 1960s, 70s, and 80s as Values Clarification and Outcome Based Education.
July, 1948 — Britain’s Sir Harold Butler, in the CFR’s Foreign Affairs, sees “a New World Order” taking shape:
“How far can the life of nations, which for centuries have thought of themselves as distinct and unique, be merged with the life of other nations? How far are they prepared to sacrifice a part of their sovereignty without which there can be no effective economic or political union?… Out of the prevailing confusion a new world is taking shape… which may point the way toward the new order… That will be the beginning of a real United Nations, no longer crippled by a split personality, but held together by a common faith.”
1948 — UNESCO president and Fabian Socialist, Sir Julian Huxley, calls for a radical eugenic policy in UNESCO: Its Purpose and Its Philosophy. He states:
“Thus, even though it is quite true that any radical eugenic policy of controlled human breeding will be for many years politically and psychologically impossible, it will be important for UNESCO to see that the eugenic problem is examined with the greatest care and that the public mind is informed of the issues at stake that much that is now unthinkable may at least become thinkable.”
1948 — The preliminary draft of a World Constitution is published by U.S. educators advocating regional federation on the way toward world federation or government with England incorporated into a European federation.
The Constitution provides for a “World Council” along with a “Chamber of Guardians” to enforce world law. Also included is a “Preamble” calling upon nations to surrender their arms to the world government, and includes the right of this “Federal Republic of the World” to seize private property for federal use.
February 9, 1950 — The Senate Foreign Relations Subcommittee introduces Senate Concurrent Resolution 66 which begins:
“Whereas, in order to achieve universal peace and justice, the present Charter of the United Nations should be changed to provide a true world government constitution.”
The resolution was first introduced in the Senate on September 13, 1949 by Senator Glen Taylor (D-Idaho). Senator Alexander Wiley (R-Wisconsin) called it “a consummation devoutly to be wished for” and said, “I understand your proposition is either change the United Nations, or change or create, by a separate convention, a world order.” Senator Taylor later stated:
“We would have to sacrifice considerable sovereignty to the world organization to enable them to levy taxes in their own right to support themselves.”
1950 — In testimony before the Senate Foreign Relations Committee, international financier James P Warburg said:
“we shall have a world government, whether or not we like it. The question is only whether world government will be achieved by consent or by conquest.”
April 12, 1952 — John Foster Dulles, later to become Secretary of State, says in a speech to the American Bar Association in Louisville, Kentucky, that “treaty laws can override the Constitution.” He says treaties can take power away from Congress and give them to the President. They can take powers from the States and give them to the Federal Government or to some international body and they can cut across the rights given to the people by their constitutional Bill of Rights. A Senate amendment, proposed by GOP Senator John Bricker, would have provided that no treaty could supersede the Constitution, but it fails to pass by one vote.
1954 — Prince Bernhard of the Netherlands establishes the Bilderbergers, international politicians and bankers who meet secretly on an annual basis.
1954 — H. Rowan Gaither, Jr., President – Ford Foundation said to Norman Dodd of the Congressional Reese Commission:
“… all of us here at the policy-making level have had experience with directives… from the White House… . The substance of them is that we shall use our grant-making power so as to alter our life in the United States that we can be comfortably merged with the Soviet Union.”
1954 — Senator William Jenner said:
“Today the path to total dictatorship in the United States can be laid by strictly legal means, unseen and unheard by the Congress, the President, or the people… outwardly we have a Constitutional government. We have operating within our government and political system, another body representing another form of government, a bureaucratic elite which believes our Constitution is outmoded and is sure that it is the winning side…. All the strange developments in the foreign policy agreements may be traced to this group who are going to make us over to suit their pleasure…. This political action group has its own local political support organizations, its own pressure groups, its own vested interests, its foothold within our government, and its own propaganda apparatus.”
1958 — World Peace through World Law is published, where authors Grenville Clark and Louis Sohn advocate using the U.N. as a governing body for the world, world disarmament, a world police force and legislature.
1959 — The Council on Foreign Relations calls for a New International Order Study Number 7, issued on November 25, advocated:
“… new international order [which] must be responsive to world aspirations for peace, for social and economic change… an international order… including states labeling themselves as ‘socialist’ [communist].”
1959 — The World Constitution and Parliament Association is founded which later develops a Diagram of World Government under the Constitution for the Federation of Earth.
1959 — The Mid-Century Challenge to U.S. Foreign Policy is published, sponsored by the Rockefeller Brothers’ Fund. It explains that the U.S.:
“… cannot escape, and indeed should welcome… the task which history has imposed on us. This is the task of helping to shape a new world order in all its dimensions — spiritual, economic, political, social.”
September 9, 1960 — President Eisenhower signs Senate Joint Resolution 170, promoting the concept of a federal Atlantic Union. Pollster and Atlantic Union Committee treasurer, Elmo Roper, later delivers an address titled, The Goal Is Government of All the World, in which he states:
“For it becomes clear that the first step toward World Government cannot be completed until we have advanced on the four fronts: the economic, the military, the political and the social.”
1961 — The U.S. State Department issues a plan to disarm all nations and arm the United Nations. State Department Document Number 7277 is entitled Freedom From War: The U.S. Program for General and Complete Disarmament in a Peaceful World. It details a three-stage plan to disarm all nations and arm the U.N. with the final stage in which “no state would have the military power to challenge the progressively strengthened U.N. Peace Force.”
March 1, 1962 — Sen. Clark speaking on the floor of the Senate about PL 87-297 which calls for the disbanding of all armed forces and the prohibition of their re-establishment in any form whatsoever. “… This program is the fixed, determined and approved policy of the government of the United States.”
1962 — New Calls for World Federalism. In a study titled, A World Effectively Controlled by the United Nations, CFR member Lincoln Bloomfield states:
“… if the communist dynamic was greatly abated, the West might lose whatever incentive it has for world government.”
The Future of Federalism by author Nelson Rockefeller is published. The one-time Governor of New York, claims that current events compellingly demand a “new world order,” as the old order is crumbling, and there is “a new and free order struggling to be born.” Rockefeller says there is:
“a fever of nationalism… [but] the nation-state is becoming less and less competent to perform its international political tasks….These are some of the reasons pressing us to lead vigorously toward the true building of a new world order… [with] voluntary service… and our dedicated faith in the brotherhood of all mankind…. Sooner perhaps than we may realize… there will evolve the bases for a federal structure of the free world.”
1963 — J. William Fulbright, Chairman of the Senate Foreign Relations Committee speaks at a symposium sponsored by the Fund for the Republic, a left-wing project of the Ford Foundation:
“The case for government by elites is irrefutable… government by the people is possible but highly improbable.”
1964 — Taxonomy of Educational Objectives, Handbook II is published. Author Benjamin Bloom states:
“… a large part of what we call ‘good teaching’ is the teacher’s ability to attain affective objectives through challenging the students’ fixed beliefs.”
His Outcome-Based Education (OBE) method of teaching would first be tried as Mastery Learning in Chicago schools. After five years, Chicago students’ test scores had plummeted causing outrage among parents. OBE would leave a trail of wreckage wherever it would be tried and under whatever name it would be used. At the same time, it would become crucial to globalists for overhauling the education system to promote attitude changes among school students.
1964 — Visions of Order by Richard Weaver is published. He describes:
“progressive educators as a ‘revolutionary cabal’ engaged in ‘a systematic attempt to undermine society’s traditions and beliefs.'”
1967 — Richard Nixon calls for New World Order. In Asia after Vietnam, in the October issue of Foreign Affairs, Nixon writes of nations’ dispositions to evolve regional approaches to development needs and to the evolution of a “new world order.”
1968 — Joy Elmer Morgan, former editor of the NEA Journal publishes The American Citizens Handbook in which he says:
“the coming of the United Nations and the urgent necessity that it evolve into a more comprehensive form of world government places upon the citizens of the United States an increased obligation to make the most of their citizenship which now widens into active world citizenship.”
July 26, 1968 — Nelson Rockefeller pledges support of the New World Order. In an Associated Press report, Rockefeller pledges that, “as President, he would work toward international creation of a new world order.”
1970 — Education and the mass media promote world order. In Thinking About A New World Order for the Decade 1990, author Ian Baldwin, Jr. asserts that:
“… the World Law Fund has begun a worldwide research and educational program that will introduce a new, emerging discipline — world order — into educational curricula throughout the world… and to concentrate some of its energies on bringing basic world order concepts into the mass media again on a worldwide level.”
1972 — President Nixon visits China. In his toast to Chinese Premier Chou En-lai, former CFR member and now President, Richard Nixon, expresses “the hope that each of us has to build a new world order.”
May 18, 1972 — In speaking of the coming of world government, Roy M. Ash, director of the Office of Management and Budget, declares that:
“within two decades the institutional framework for a world economic community will be in place… [and] aspects of individual sovereignty will be given over to a supernational authority.”
1973 — The Trilateral Commission is established. Banker David Rockefeller organizes this new private body and chooses Zbigniew Brzezinski, later National Security Advisor to President Carter, as the Commission’s first director and invites Jimmy Carter to become a founding member.
1973 — Humanist Manifesto II is published:
“The next century can be and should be the humanistic century… we stand at the dawn of a new age… a secular society on a planetary scale…. As non-theists we begin with humans not God, nature not deity… we deplore the division of humankind on nationalistic grounds…. Thus we look to the development of a system of world law and a world order based upon transnational federal government…. The true revolution is occurring.”
April, 1974 — Former U. S. Deputy Assistant Secretary of State, Trilateralist and CFR member Richard Gardner’s article The Hard Road to World Order is published in the CFR’s Foreign Affairs where he states that:
“the ‘house of world order’ will have to be built from the bottom up rather than from the top down… but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault.”
1974 — The World Conference of Religion for Peace, held in Louvain, Belgium is held. Douglas Roche presents a report entitled We Can Achieve a New World Order.
The U.N. calls for wealth redistribution: In a report entitled New International Economic Order, the U.N. General Assembly outlines a plan to redistribute the wealth from the rich to the poor nations.
1975 — A study titled, A New World Order, is published by the Center of International Studies, Woodrow Wilson School of Public and International Studies, Princeton University.
1975 — In Congress, 32 Senators and 92 Representatives sign A Declaration of Interdependence, written by historian Henry Steele Commager. The Declaration states that:
“we must join with others to bring forth a new world order… Narrow notions of national sovereignty must not be permitted to curtail that obligation.”
Congresswoman Marjorie Holt refuses to sign the Declaration saying:
“It calls for the surrender of our national sovereignty to international organizations. It declares that our economy should be regulated by international authorities. It proposes that we enter a ‘new world order’ that would redistribute the wealth created by the American people.”
1975 — Retired Navy Admiral Chester Ward, former Judge Advocate General of the U.S. Navy and former CFR member, writes in a critique that the goal of the CFR is the “submergence of U. S. sovereignty and national independence into an all powerful one-world government… “
1975 — Kissinger on the Couch is published. Authors Phyllis Schlafly and former CFR member Chester Ward state:
“Once the ruling members of the CFR have decided that the U.S. government should espouse a particular policy, the very substantial research facilities of the CFR are put to work to develop arguments, intellectual and emotional, to support the new policy and to confound, discredit, intellectually and politically, any opposition… “
1976 — RIO: Reshaping the International Order is published by the globalist Club of Rome, calling for a new international order, including an economic redistribution of wealth.
1977 — The Third Try at World Order is published. Author Harlan Cleveland of the Aspen Institute for Humanistic Studies calls for:
“changing Americans’ attitudes and institutions” for “complete disarmament (except for international soldiers)” and “for individual entitlement to food, health and education.”
1977 — Imperial Brain Trust by Laurence Shoup and William Minter is published. The book takes a critical look at the Council on Foreign Relations with chapters such as: Shaping a New World Order: The Council’s Blueprint for Global Hegemony, 1939-1944 and Toward the 1980’s: The Council’s Plans for a New World Order.
1977 — The Trilateral Connection appears in the July edition of Atlantic Monthly. Written by Jeremiah Novak, it says:
“For the third time in this century, a group of American schools, businessmen, and government officials is planning to fashion a New World Order… “
1977 — Leading educator Mortimer Adler publishes Philosopher at Large in which he says:
“… if local civil government is necessary for local civil peace, then world civil government is necessary for world peace.”
1979 — Barry Goldwater, retiring Republican Senator from Arizona, publishes his autobiography With No Apologies. He writes:
“In my view The Trilateral Commission represents a skillful, coordinated effort to seize control and consolidate the four centers of power — political, monetary, intellectual, and ecclesiastical. All this is to be done in the interest of creating a more peaceful, more productive world community. What the Trilateralists truly intend is the creation of a worldwide economic power superior to the political governments of the nation-states involved. They believe the abundant materialism they propose to create will overwhelm existing differences. As managers and creators of the system they will rule the future.”
1984 — The Power to Lead is published. Author James McGregor Burns admits:
“The framers of the U.S. constitution have simply been too shrewd for us. The have outwitted us. They designed separate institutions that cannot be unified by mechanical linkages, frail bridges, tinkering. If we are to ‘turn the Founders upside down’ — we must directly confront the constitutional structure they erected.”
1985 — Norman Cousins, the honorary chairman of Planetary Citizens for the World We Chose, is quoted in Human Events:
“World government is coming, in fact, it is inevitable. No arguments for or against it can change that fact.”
Cousins was also president of the World Federalist Association, an affiliate of the World Association for World Federation (WAWF), headquartered in Amsterdam. WAWF is a leading force for world federal government and is accredited by the U.N. as a Non-Governmental Organization.
1987 — The Secret Constitution and the Need for Constitutional Change is sponsored in part by the Rockefeller Foundation. Some thoughts of author Arthur S. Miller are:
“… a pervasive system of thought control exists in the United States… the citizenry is indoctrinated by employment of the mass media and the system of public education… people are told what to think about… the old order is crumbling… Nationalism should be seen as a dangerous social disease… A new vision is required to plan and manage the future, a global vision that will transcend national boundaries and eliminate the poison of nationalistic solutions… a new Constitution is necessary.”
1988 — Former Under-secretary of State and CFR member George Ball in a January 24 interview in the New York Times says:
“The Cold War should no longer be the kind of obsessive concern that it is. Neither side is going to attack the other deliberately… If we could internationalize by using the U.N. in conjunction with the Soviet Union, because we now no longer have to fear, in most cases, a Soviet veto, then we could begin to transform the shape of the world and might get the U.N. back to doing something useful… Sooner or later we are going to have to face restructuring our institutions so that they are not confined merely to the nation-states. Start first on a regional and ultimately you could move to a world basis.”
December 7, 1988 — In an address to the U.N., Mikhail Gorbachev calls for mutual consensus:
“World progress is only possible through a search for universal human consensus as we move forward to a new world order.”
May 12, 1989 — President Bush invites the Soviets to join World Order. Speaking to the graduating class at Texas A&M University, Mr. Bush states that the United States is ready to welcome the Soviet Union “back into the world order.”
1989 — Carl Bernstein’s (Woodward and Bernstein of Watergate fame) book Loyalties: A Son’s Memoir is published. His father and mother had been members of the Communist party. Bernstein’s father tells his son about the book:
“You’re going to prove [Sen. Joseph] McCarthy was right, because all he was saying is that the system was loaded with Communists. And he was right… I’m worried about the kind of book you’re going to write and about cleaning up McCarthy. The problem is that everybody said he was a liar; you’re saying he was right… I agree that the Party was a force in the country.”
1990 — The World Federalist Association faults the American press. Writing in their Summer/Fall newsletter, Deputy Director Eric Cox describes world events over the past year or two and declares:
“It’s sad but true that the slow-witted American press has not grasped the significance of most of these developments. But most federalists know what is happening… And they are not frightened by the old bug-a-boo of sovereignty.”
September 11, 1990 — President Bush calls the Gulf War an opportunity for the New World Order. In an address to Congress entitled Toward a New World Order, Mr. Bush says:
“The crisis in the Persian Gulf offers a rare opportunity to move toward an historic period of cooperation. Out of these troubled times… a new world order can emerge in which the nations of the world, east and west, north and south, can prosper and live in harmony…. Today the new world is struggling to be born.”
September 25, 1990 — In an address to the U.N., Soviet Foreign Minister Eduard Shevardnadze describes Iraq’s invasion of Kuwait as “an act of terrorism [that] has been perpetrated against the emerging New World Order.” On December 31, Gorbachev declares that the New World Order would be ushered in by the Gulf Crisis.
October 1, 1990 — In a U.N. address, President Bush speaks of the:
“… collective strength of the world community expressed by the U.N. … an historic movement towards a new world order… a new partnership of nations… a time when humankind came into its own… to bring about a revolution of the spirit and the mind and begin a journey into a… new age.”
1991 — Author Linda MacRae-Campbell publishes How to Start a Revolution at Your School in the publication In Context. She promotes the use of “change agents” as “self-acknowledged revolutionaries” and “co-conspirators.”
1991 — President Bush praises the New World Order in a State of Union Message:
“What is at stake is more than one small country, it is a big idea — a new world order… to achieve the universal aspirations of mankind… based on shared principles and the rule of law…. The illumination of a thousand points of light…. The winds of change are with us now.”
February 6, 1991 — President Bush tells the Economic Club of New York:
“My vision of a new world order foresees a United Nations with a revitalized peacekeeping function.”
June, 1991 — The Council on Foreign Relations co-sponsors an assembly Rethinking America’s Security: Beyond Cold War to New World Order which is attended by 65 prestigious members of government, labor, academia, the media, military, and the professions from nine countries. Later, several of the conference participants joined some 100 other world leaders for another closed door meeting of the Bilderberg Society in Baden Baden, Germany. The Bilderbergers also exert considerable clout in determining the foreign policies of their respective governments. While at that meeting, David Rockefeller said in a speech:
“We are grateful to the Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”
July, 1991 — The Southeastern World Affairs Institute discusses the New World Order. In a program, topics include, Legal Structures for a New World Order and The United Nations: From its Conception to a New World Order. Participants include a former director of the U.N.’s General Legal Division, and a former Secretary General of International Planned Parenthood.
Late July, 1991 — On a Cable News Network program, CFR member and former CIA director Stansfield Turner (Rhodes scholar), when asked about Iraq, responded:
“We have a much bigger objective. We’ve got to look at the long run here. This is an example — the situation between the United Nations and Iraq — where the United Nations is deliberately intruding into the sovereignty of a sovereign nation… Now this is a marvelous precedent (to be used in) all countries of the world… “
October 29, 1991 — David Funderburk, former U. S. Ambassador to Romania, tells a North Carolina audience:
“George Bush has been surrounding himself with people who believe in one-world government. They believe that the Soviet system and the American system are converging.” The vehicle to bring this about, said Funderburk, is the United Nations, “the majority of whose 166 member states are socialist, atheist, and anti-American.”
Funderburk served as ambassador in Bucharest from 1981 to 1985, when he resigned in frustration over U.S. support of the oppressive regime of the late Rumanian dictator, Nicolae Ceausescu.
October 30, 1991: — President Gorbachev at the Middle East Peace Talks in Madrid states:
“We are beginning to see practical support. And this is a very significant sign of the movement towards a new era, a new age… We see both in our country and elsewhere… ghosts of the old thinking… When we rid ourselves of their presence, we will be better able to move toward a new world order… relying on the relevant mechanisms of the United Nations.”
Elsewhere, in Alexandria, Virginia, Elena Lenskaya, Counsellor to the Minister of Education of Russia, delivers the keynote address for a program titled, Education for a New World Order.
1992 — The Twilight of Sovereignty by CFR member (and former Citicorp Chairman) Walter Wriston is published, in which he claims:
“A truly global economy will require … compromises of national sovereignty… There is no escaping the system.”
1992 — The United Nations Conference on Environment and Development (UNCED) Earth Summit takes place in Rio de Janeiro this year, headed by Conference Secretary-General Maurice Strong. The main products of this summit are the Biodiversity Treaty and Agenda 21, which the U.S. hesitates to sign because of opposition at home due to the threat to sovereignty and economics. The summit says the first world’s wealth must be transferred to the third world.
July 20, 1992 — Time magazine publishes The Birth of the Global Nation by Strobe Talbott, Rhodes Scholar, roommate of Bill Clinton at Oxford University, CFR Director, and Trilateralist, in which he writes:
“All countries are basically social arrangements… No matter how permanent or even sacred they may seem at any one time, in fact they are all artificial and temporary… Perhaps national sovereignty wasn’t such a great idea after all… But it has taken the events in our own wondrous and terrible century to clinch the case for world government.”
As an editor of Time, Talbott defended Clinton during his presidential campaign. He was appointed by President Clinton as the number two person at the State Department behind Secretary of State Warren Christopher, former Trilateralist and former CFR Vice-Chairman and Director. Talbott was confirmed by about two-thirds of the U.S. Senate despite his statement about the unimportance of national sovereignty.
September 29, 1992 — At a town hall meeting in Los Angeles, Trilateralist and former CFR president Winston Lord delivers a speech titled Changing Our Ways: America and the New World, in which he remarks:
“To a certain extent, we are going to have to yield some of our sovereignty, which will be controversial at home… [Under] the North American Free Trade Agreement (NAFTA)… some Americans are going to be hurt as low-wage jobs are taken away.”
Lord became an Assistant Secretary of State in the Clinton administration.
1992 — President Bush addressing the General Assembly of the U.N said:
“It is the sacred principles enshrined in the United Nations charter to which the American people will henceforth pledge their allegiance.”
Winter, 1992-93 — The CFR’s Foreign Affairs publishes Empowering the United Nations by U.N. Secretary General Boutros-Boutros Ghali, who asserts:
“It is undeniable that the centuries-old doctrine of absolute and exclusive sovereignty no longer stands… Underlying the rights of the individual and the rights of peoples is a dimension of universal sovereignty that resides in all humanity… It is a sense that increasingly finds expression in the gradual expansion of international law… In this setting the significance of the United Nations should be evident and accepted.”
1993 — Strobe Talbott receives the Norman Cousins Global Governance Award for his 1992 Time article, The Birth of the Global Nation and in appreciation for what he has done “for the cause of global governance.” President Clinton writes a letter of congratulation which states:
“Norman Cousins worked for world peace and world government…. Strobe Talbott’s lifetime achievements as a voice for global harmony have earned him this recognition… He will be a worthy recipient of the Norman Cousins Global Governance Award. Best wishes… for future success.”
Not only does President Clinton use the specific term, “world government,” but he also expressly wishes the WFA “future success” in pursuing world federal government. Talbott proudly accepts the award, but says the WFA should have given it to the other nominee, Mikhail Gorbachev.
July 18, 1993 — CFR member and Trilateralist Henry Kissinger writes in the Los Angeles Times concerning NAFTA:
“What Congress will have before it is not a conventional trade agreement but the architecture of a new international system… a first step toward a new world order.”
August 23, 1993 — Christopher Hitchens, Socialist friend of Bill Clinton when he was at Oxford University, says in a C-SPAN interview:
“… it is, of course the case that there is a ruling class in this country, and that it has allies internationally.”
October 30, 1993 — Washington Post ombudsman Richard Harwood does an op-ed piece about the role of the CFR’s media members:
“Their membership is an acknowledgment of their ascension into the American ruling class [where] they do not merely analyze and interpret foreign policy for the United States; they help make it.”
January/February, 1994 — The CFR’s Foreign Affairs prints an opening article by CFR Senior Fellow Michael Clough in which he writes that the “Wise Men” (e.g. Paul Nitze, Dean Acheson, George Kennan, and John J. McCloy) have:
“assiduously guarded it [American foreign policy] for the past 50 years… They ascended to power during World War II… This was as it should be. National security and the national interest, they argued must transcend the special interests and passions of the people who make up America… How was this small band of Atlantic-minded internationalists able to triumph … Eastern internationalists were able to shape and staff the burgeoning foreign policy institutions… As long as the Cold War endured and nuclear Armageddon seemed only a missile away, the public was willing to tolerate such an undemocratic foreign policy making system.”
1994 — In the Human Development Report, published by the UN Development Program, there was a section called “Global Governance For the 21st Century”. The administrator for this program was appointed by Bill Clinton. His name is James Gustave Speth. The opening sentence of the report said:
“Mankind’s problems can no longer be solved by national government. What is needed is a World Government. This can best be achieved by strengthening the United Nations system.”
1995 — The State of the World Forum took place in the fall of this year, sponsored by the Gorbachev Foundation located at the Presidio in San Francisco. Foundation President Jim Garrison chairs the meeting of who’s-whos from around the world including Margaret Thatcher, Maurice Strong, George Bush, Mikhail Gorbachev and others. Conversation centers around the oneness of mankind and the coming global government. However, the term “global governance” is now used in place of “new world order” since the latter has become a political liability, being a lightning rod for opponents of global government.
1996 — The United Nations 420-page report Our Global Neighborhood is published. It outlines a plan for “global governance,” calling for an international Conference on Global Governance in 1998 for the purpose of submitting to the world the necessary treaties and agreements for ratification by the year 2000.
BRICS establish $100bn bank and currency reserves to cut out Western dominance
The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar.
The new bank will provide money for infrastructure and development projects in BRICS countries, and unlike the IMF or World Bank, each nation has equal say, regardless of GDP size.
“BRICS Bank will be one of the major multilateral development finance institutions in this world,” Russian President Vladimir Putin said on Tuesday at the 6th BRICS summit in Fortaleza, Brazil.
The big launch of the BRICS bank is seen as a first step to break the dominance of the US dollar in global trade, as well as dollar-backed institutions such as the International Monetary Fund (IMF) and the World Bank, both US-based institutions BRICS countries have little influence within.
“In terms of escalating international competition the task of activating the trade and investment cooperation between BRICS member states becomes important,” Putin said.
Russia, Brazil, India, China and South Africa account for 11 percent of global capital investment, and trade turnover almost doubled in the last 5 years, the president reminded.
Each BRICS member is expected to put an equal share into establishing the startup capital of $50 billion with a goal to reach $100 billion. The BRICS bank will be headquartered inShanghai, India will preside as president the first year, and Russia will be the chairman of the representatives. Each country will send either their finance minister or Central Bank chair to the bank’s representative board.
Membership may not just be limited to just BRICS nations, either. Future members could include countries in other emerging markets blocs, such as Mexico, Indonesia, or Argentina, once it sorts out its debt burden.
BRICS represents 42 percent of the world’s population and roughly 20 percent of the world’s economy based on GDP, and 30 percent of the world’s GDP based on PPP, a more accurate reading of the real economy. Total trade between the countries is $6.14 trillion, or nearly 17 percent of the world’s total.
The $100 billion crisis lending fund, called the Contingent Reserve Arrangement (CRA), was also established. China will contribute the lion’s share, about $41 billion, Russia, Brazil and India will chip in $18 billion, and South Africa, the newest member of the economic bloc, will contribute $5 billion.
The idea is that the creation of the bank will lessen dependence on the West and create a more multi-polar world, at least financially.
“This mechanism creates the foundation for an effective protection of our national economies from a crisis in financial markets,” Russian President Vladimir Putin said.
The group has already created the BRICS Stock Alliance an initiative to cross list derivatives to smooth the path for international investors interested in emerging markets.
Russia has also proposed the countries come together under an energy alliance that will include a fuel reserve, as well as an institute for energy policy
“We propose the establishment of the Energy Association of BRICS. Under this ‘umbrella’, a Fuel Reserve Bank and BRICS Energy Policy Institute could be set up,” Putin said.
Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also inked.
Bringing emerging economies closer has become vital at a time when the world is guttered by the financial crisis and BRICS countries can’t remain above international problems, said Brazil’s President Dilma Rousseff.
She cautioned the world not to see BRICS deals as a desire to dominate.
“We want justice and equal rights,” she said.
“The IMF should urgently revise distribution of voting rights to reflect the importance of emerging economies globally,” Rousseff said.
Pastor Lindsey Williams – Global Currency Reset – Update
By James Harkin for Lindsey Williams
It has been just over a month since the last newsletter was sent regarding the Global Currency Reset. Many subscribers have emailed asking for updates. Although Pastor Williams has told me there is nothing new from his elite friend I have looked at a few articles that are talking in the mainstream about things that Pastor Williams has warned about in the past. This newsletter may help you understand a little more about what is about to happen to the U.S. economy and the world in the next few years based on official statements from members of the Elite as well as IMF, World Bank, U.N. and more. In this newsletter I will discuss the Global Currency Reset, Gold, the One-Off Wealth Tax, China, Climate Change and World Government. All these things should make you understand in the next few years the entire global economy will change and you should be making preparations right now to protect not only your financial future, but the future of your health and wellbeing.
I have conversed via email with Pastor Williams regularly over the past month and he has told me that “the correction will be soon and horrifying to most people.” The important information Pastor Williams has provided us with in his DVDs ‘Elite Emergency Data’ and ‘Global Currency Reset’ is still valid. Pastor Williams had this to say regarding certain comments on his website that complained that the Global Currency Reset hasn’t already happened. Pastor Williams said “If people only knew, they would hope that the Elite and IMF delay the Global Currency Reset forever. It almost sounds if some people want judgement. In my DVD, I said “Possibly within Ninety Days.” Sorry to disappoint those who are looking forward to a crash”. Please remember it was not Pastor Williams himself making the prediction this information came from his Elite friend. Pastor Williams shared this information knowing that a concrete timeframe can cause all kinds of problems if it fails to occur. He has risked his reputation on sharing information relating to the GCR and he did it because he was afraid for what would happen to the American people when this event occurs. This event will occur, the IMF do not share idle or speculative comments. Pastor Williams has told me “I still have no new news as my Elite friend is travelling for a few months and I hear from him very seldom. Tell those who want the Reset that my Elite friend knows when it will happen and will probably be home when it takes place so that he will not be in the unrest that will be a result. Relax for a while – Thank the Lord for this delay – Hard times will come soon enough.”
While the Elite, Christine Lagarde and the International Monetary Fund (IMF) did not achieve their desired ninety days (three months) timeframe their plans have not changed whatsoever. They are still going ahead and this is now public knowledge. Take every day that the reset doesn’t happen as a blessing and another day when you can continue to prepare. We are in this situation due to the people’s abdication of responsibility, lack of interest as well as wilful ignorance of anything outside their comfort zone. We have been so dumbed down and kept busy chasing the American dream that we have been asleep as our rights, our property, our freedom has been taken away from us. It is our responsibility to regain our power. We each have a responsibility to look after our family and not rely on the government, corporations and other third parties to do this for us. Pastor Williams has been telling us for years that we must take responsibility, some of us have taken his word and taken the steps to protect our families, others have waited. Eventually it will be too late and those will wish they had taken the helpful advice Pastor Williams has given. I say again do the following things, they are essential to protect your family, if you fail to carry out the steps you, your family and future generations will be reliant on the Elite from the day they are born until the day they die. Buy every piece of gold you can lay your hands on, Get out of debt, Get out of paper, Pay off your house mortgage, Store or buy food, water and personal protection, Get ready for the biggest buying opportunity of your lifetime, Get out of the city, Purchase everything you need, Sort out your medicine cabinet and Get your spiritual house in order. These 10 steps are specifically written to help you avoid, even prosper through the crash that is ever rapidly approaching. Do not think that because the stock market is booming that things are okay. Things are far from okay. This stock market boom is based on the Federal Reserve pumping cash into the system every month. It’s a fake boom, another bubble that will burst. Get your money into tangible assets as soon as you can.
Global Currency Reset
It is now public knowledge that the IMF, are planning a global currency reset. This reset will be the largest financial event in over 1,000 years. In January 2014 The World Economic Forum at Davos was held. At the event Christine Lagarde, managing director of the IMF was there to talk about two R’s, ‘Risks’ regarding tapering and deflation as well as ‘Reset’. As with all Elite, they are always vague and never talk in specifics, unfortunately you have to read between the lines. Christine Lagarde said this about reset “my last ‘R’ is ‘Reset’ we see as necessary going forward a reset in the area of monetary policies, we believe that quantitative easing and the accommodating monetary policies that have been adopted so far should be continued up until such point where growth is well anchored in those economies and this is not yet the case everywhere. Reset in the sense that once it is well anchored, then those accommodating monetary policies have to be reformulated, have to move either back into their old territories or be more traditional or be of a different kind. Second ‘Reset’ is the financial sector reform and regulatory environment that is clearly undergoing a major reset at the moment. The final ‘Reset’ is those structural reforms that are necessary in all corners of the world. Very often people think structural reforms for some of those advanced economies that have such rigid labour markets, no, it’s not just that and I am not sure I would not necessarily associate advanced economies with rigid markets nor would I mark flexibility as the ideal solution for it. But, structural reforms are needed in product markets, service markets, but they are also needed in emerging market economies where structural reforms can take a completely different form from those I have just mentioned. They have to do with bottlenecks in certain countries. They have to do with proper governance, and they certainly take multiple forms including that of unleashing the potential that is there, but that is still constricted by a lot of licensing rights, protective barriers and so forth.” I have left the statement virtually in its entirety for you to review. Here is the link to the video:
http://www.youtube.com/watch?v=VgvLPCPoTKQ
In the question and answer session at the end of the event, Christine Lagarde said “It’s also true that if very well done a good balance sheet assessment of all banks and a good stress test would also participate in the building up of what would be needed for some mutualisation of debt.” Ultimately this is both commercial banks as well as central banks. In regards to tapering on emerging economies she said “On the spill over effects on emerging market economies of tapering. What we have seen in May has been much talked about the actual flow of capitals has not been that big. What we’ve also seen is that not all emerging markets have been affected in the same way and in that way markets and investors are very cunning, they look at the fundamentals of economies, they look at the strength of government, they look at the predictability of policies, they look at the policy mix and then they decide to move in, to stay or to move out. There are countries that have had hardly any currency movement and there are countries that have seen significant currency movement as a result of the talk of tapering and subsequently the announcement in December. But, clearly what has happened in between May and December has been very beneficial to some of the countries and India is a clear example of monetary policies as well as a reaffirmation of fiscal policies that have had an impact on how prepared the Indian economy is prepared.” As you can see Christine Lagarde is well aware of what happened when Ben Bernanke hinted at tapering that cause the stock market to drop and interbank lending rates increase.
In the same video Mark Carney, Governor of the Bank of England and a World Economic Forum Foundation Board Member at Davos 2014 also added to what Christine Lagarde had said about the ‘Reset’. With regards to risks he said “we have been in a very low volatility environment, in large part because of the policies of the major central banks. There are two dynamics one is to move back to a more normal volatility environment, which will feel like a big increase in volatility and potentially move further than that because of some of the structural changes in the financial system.” Mark Carney also talked about interest rate increases being reintroduced gradually. He wouldn’t put a date on it, but from what he said it is clearly looming within the short term.
The day after the above remarks were made at Davos 2014, Christine Lagarde was interviewed for Bloomberg. Her interview is entitled ‘An Insight, an Idea with Christine Lagarde’. She announces her statement “What is needed is a ‘Reset’ of the way in which the economy grows around the world.” She talks of old and new risks especially with China, India, Spain and Iran. Old risks including: financial stability and bubbles; massive unemployment worldwide, north of 200 million people; slow growth rate; and an unbalanced and uneven growth rate. The new risks include: Tapering and spill over effect; deflation particularly in Europe. With regards to ‘Reset’ she talks about multiple fronts including: financial sector regulatory environment being finalised and constantly re-examined; reset of monetary policies by central banks of the advanced economies since they have been using unconventional financial tools; structural reforms in both advanced and emerging territories being below potential. She mentions “rebalancing all over”. Christine Lagarde also talks about inequalities widening globally over the last decade allowing for less sustainable growth and mentions the potential for taxation to change to a more Nordic Dual Income Tax system. The dual income tax system according to Wikipedia levies a proportional tax rate on all net income (capital, wage and pension income less deductions) combined with progressive tax rates on gross labour and pension income. This implies that labour income is taxed at higher rates than capital income, and that the value of the tax allowances is independent of the income level. Have a look further down the page for information relating to a new tax that the Elite wish to implement in order to fund their One World Government.
Later in the interview Christine Lagarde talks about political risks in Arab countries and focuses on Iran where the IMF, have started implementing ‘Article 4’. If you would like more information regarding what the IMF are doing with Iran you can see updated information here:
http://www.imf.org/external/country/IRN/index.htm
Christine Lagarde confirmed that there is no longer any risk of collapse of the E.U., which is very interesting since it has been said by other Elite that the U.S. economy would collapse after the E.U. We will see. In the interview she focused on women not just in economic factors, but in changes in day care, education as well as cultural changes. This is very interesting to me, because the Elite are against the nuclear family. The Elite see the nuclear family as a threat to complete control of humanity. It would be beneficial to the Elite to have both parents working while children are raised and indoctrinated by state institutions. At the end of the interview Christine Lagarde talks about Climate Change being a key challenge for the IMF and major events in 2014 and in 2015 will see significant events to push towards dealing with climate change. Of course since this is the IMF, it is more to do with finance than saving humanity from carbon and at the end of this newsletter you will see exactly why the Elite are pushing the climate change agenda as well as how long they have been focused on it. If you would like to listen to this interview you can here:
http://www.bloomberg.com/video/an-insight-an-idea-with-christine-lagarde-heKSl1aiRam4JbkkuGEGeg.html
“The global financial system, that has produced more and more credit in increasingly easier ways, possibly has reached the point that it can no longer operate in an official way.”
– Bill Gross, founder of investment company PIMCO (2012)
A day or so ago I received an article from Investing.com with an interview with Terence van der Hout of the Netherlands-based Commodity Discovery Fund regarding “Preparing for a Reset of the World’s Reserve Currency”. In the article it mentions that the U.S. and the IMF are already planning to replace the U.S. Dollar. It also talks about SDR’s (Standard Drawing Rights). The article also talks about the resets following the crisis in Germany after the Weimar hyperinflation in 1923, and more recently, in Cyprus. Also it talks about George Soros saying in an interview with The Financial Times that the system is broken and needs to be reconstituted as well as talking about Christine Lagarde’s ‘Reset’.
With regards to gold Terence van der Hout said that we have seen lots of manipulation of the gold price, similar to the 1960’s when the London Gold Pool was keeping prices at $35 an ounce. He said that there has been another round of manipulation in the last few years and that it cannot go on in the short to medium term. He says a revaluation toward $4,200 an ounce or gold prices will have to rise because of structural deficits in the gold market. Global gold production cannot keep up with the growing demand for physical gold and says the World Gold Council shows a deficit of 700 tons of physical gold.
He talks about China and Russia growing their physical gold reserves enormously. Other information within the article talks about gold mining and gold funds as well as silver being the poor man’s gold. He says when the gold price goes up too much, more people start to buy silver. He also says there are no large above the ground stockpiles available anymore.
It is an interesting interview you can read the full article here:
http://www.investing.com/analysis/preparing-for-a-reset-of-the-world’s-reserve-currency-210197
IMF Reforms without the US
Earlier in April 2014 there were many articles in the mainstream media regarding the IMF reforming itself without the U.S. These reforms are related to increasing the IMF’s lending capacity and to give greater powers to developing countries especially to Russia and China. The reforms were negotiated among the IMF’s 188 member-nations in 2010 and most countries have already ratified the changes. However, Republicans in Congress have repeatedly rejected these new measures. Christine Lagarde said that she will continue to defer to Congress for now, but it was her first public acknowledgement that the Bretton Woods institution is considering going ahead with the reforms without the U.S., feeling more pressure from Russia (especially after their downgrade by the S&P to just over junk), China and other emerging countries who stand to benefit.
House Republicans have raised various objections and blocked the bid to include the IMF reforms with the Ukraine bill, which would provide $1 billion in loan guarantees to help stabilize Ukraine’s economy and would authorize assistance for democracy, governance and civil society programs and enhanced security cooperation. Among other concerns, they say by doubling the IMF’s permanent lending authority the reforms would expose the U.S. to greater risk of default on IMF loans. However, there has been no history of any nation defaulting on IMF loans.
It’s is obviously a negotiation and eventually these reforms will be passed by congress as it seems that it is merely a corporate bargaining chip. If you wish to read the full article it is here:
http://www.washingtontimes.com/news/2014/apr/10/imf-eyes-plan-b-reforming-itself-without-us/
Countries Bypassing the US Dollar
There are many countries that are no longer using the U.S. dollar as a means to trade internationally. Countries such as China, Russia, India and surprisingly Germany, France and the United Kingdom are all preparing for transition to a new central banking system. Over the past few years there has been a momentous rush towards setting up the infrastructure to replace the dollar completely in global transactions and with 23+ countries preparing new swap lines outside of dollar hegemony. It is coming sooner than you may think. Russia has already started entering a goods-for-oil swap transaction with Iran, causing the U.S. to retaliate with the threat of sanctions. Also, the BRICS Development Bank has been approved and the preparatory work has been done. Furthermore, Russia and India are planning to construct a $30 billion oil pipeline through China’s restive Xinjiang province that could shift the geopolitical balance.
Check out this article for more information on countries no longer solely using the U.S. dollar to trade internationally:
http://www.examiner.com/article/harbinger-23-countries-begin-setting-up-swap-lines-to-bypass-dollar
BRICS Development Bank Preparations
Although the IMF is very much part of global governance the BRICS bloc of emerging economies will have all preparatory work done for setting up its development bank by the group’s summit in July. The bank was first proposed in 2012 and was approved last year at the BRICS summit in South Africa. The start-up capital of $50 billion would eventually be built up to $100 billion.
The BRICS group are concerned that the U.S. Congress has failed to ratify reforms to the IMF that would double the Fund’s resources and give more say to emerging markets, such as the BRICS.
What this would mean is that countries such as Brazil, Russia, India, China and South Africa as well as those countries under the BRICS umbrella would no longer need approval from any institution where the U.S. has power to veto changes. It may mean that the emerging economies will become the world’s richest and the current advanced economies will start to falter.
Here is the article from Reuters that discusses the new BRICS Development Bank:
http://in.reuters.com/article/2014/04/10/g20-economy-brics-idINDEEA390GA20140410
IMF Global Wealth Confiscation
As Pastor Williams has discussed in his DVD ‘Global Currency Reset’ in October 2013 the IMF released its Fiscal Monitor Report titled “Taxing Times”, the report paints a dire picture for advanced economies with high debts that fail to aggressively “mobilize domestic revenue.” It goes on to build a case for drastic measures and recommends series of escalating income and consumption tax increases culminating in the direct confiscation of assets.
The report says “The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)”.
The report goes on to talk about the restriction of mobility of funds and ultimately people stating “Financial wealth is mobile, and so, ultimately, are people. … There may be a case for taxing different forms of wealth differently according to their mobility … Substantial progress likely requires enhanced international cooperation to make it harder for the very well-off to evade taxation by placing funds elsewhere.” And “A revenue-maximizing approach to taxing the rich effectively puts a weight of zero on their well-being—contentious, to say the least. What then if some weight is indeed attached to the well-being of the richest? Figure 19 provides a way to think about the trade-off between equity and efficiency considerations in setting the top marginal rate in that case. … If one attaches less weight to those with the highest incomes, the vote would be to increase the top marginal rate.”
Over the past few years the IMF and governments have really pushed hard to destroy tax havens and have started legislation that means people holding money and assets offshore will be branded a criminal offence. I am sure that this only means individuals and not corporations such as Google, Starbucks and other serial tax evaders who have the financial muscle to do deals in order to pay less tax usually by creating many low-paid menial part-time jobs.
Here is the IMF publication “Taxing Times”:
http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf
Gold
Pastor Williams sent me an article from Nick Hodge published by Outsider Club, it talks about how the “game is rigged.” Pastor Williams says it is “the best explanation I have seen to date as to what is really happening” and I must agree. Nick Hodge claims “Of course the game is rigged. If you didn’t learn that with derivatives and sub-prime… and the subsequent bailouts… you should’ve learned it with LIBOR or the rigging of FOREX or the laundering of money by HSBC or the admission by Andrew Huszar, the man charged with implementing QE, that it does nothing to fix a structurally unsound U.S. economy, but instead is a tool to enrich the already uber-wealthy.”
The article talks about potential 10-15% losses, constantly, every time the flow of stimulus is halted and that the most telling sign that the game is rigged is how the market responds when there is talk of tapering quantitative easing that has been pumping phantom dollars into the system. Nick Hodge talks about what Pastor Williams spoke about in June 2013 when he received two emails from his Elite friend and went on many radio shows to talk about what happens when interest rates are adjusted. When there were whispers of “winding down” the $85 Billion pumped into the economy by the Fed the DOW shed almost 700 points. It shed another 1,200 points in February 2014 when Janet Yellen took over reigns at the Federal Reserve and “taper talk” continued.
Nick Hodge continues and says “It’s an image of a gradually inflating stock market, powered entirely by an unstoppable stream of fresh, crisp $100 bills, each one slightly less valuable than the one that came before it.” I have had the same thoughts regarding the current bull market being based on nothing but cash pumped in to inflate a bubble that will obviously burst at some point.
If basic economics were applied to the financial system it would be the kind of thing that would add value to precious metals, but it has not and cannot happen when gold is rigged. Many have speculated that gold has been rigged for some time. In my 100 page guide ’10 Steps To Avoid The Crash’ I mention at length about how the gold market is rigged. I explain why gold never seems to go any higher than $1,400 an ounce. The section ‘Buy Every Piece Of Gold You Can Lay Your Hands On’ explains that “computers driven by the infinite supply of zero cost Federal Reserve money enter the market to suppress the price by dumping synthetic and counterfeit gold contracts into the market (since gold is a major derivative, as soon as gold hit the $1,400 it automatically triggered a sell-off of derivatives bringing the price down). Their thinking is that by suppressing the price it cools the demand for metal.” If gold were to reach an all-time high of $2,000, the world’s traders would really think that the Federal Reserve was out of control and start buying gold and we could easily see $10,000 gold and $500 silver. Ultimately it’s rigged, if one were to buy gold at $1,300 or $1,400 they are still getting a great deal since every ounce of new gold extracted and refined costs approximately $1,100. I also confirmed in a comment I responded to at Pastor Williams’ website that said “Those who are still in paper will effectively be wiped out when the stock market is corrected. The bubble is growing and this boom is solely based on Federal Reserve manipulation. Paper is worthless, why would anyone use it other than to pay taxes?”
“I hate to see gold rise because then I know all else is falling apart.”
– Larry Kudlow, CNBC (2006)
“Rising prices of precious metals and other commodities are an indication of a very early stage of an endeavour to move away from paper currencies.”
– Alan Greenspan, former Chairman of the Fed (2009)
“Gold is money, everything else is credit.”
– J.P. Morgan (1906)
We have speculated that there has been gold-rigging for some time. Now this is fact. A paper published in February 2014 by New York University’s Stern School of Business Professor and Managing Director at Moody’s Investors Service Rosa Abrantes-Metz found “The structure of the benchmark is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality. It is likely that co-operation between participants may be occurring.” Nick Hodge says in his article that “At the center of it are banks that have already been caught rigging other markets, like Deutsche Bank, HSBC and Societe Generale.”
Even the stock market itself has been rigged, manipulated by “High Frequency Trading.” The FBI is currently launching a probe into HFT. Zero Hedge has similar thoughts to Nick Hodge and is pointing the finger not at HFT, but the Federal Reserve with the statement “flash traders are bit traders compared to the biggest rigger of all which is the Fed.” After the next crash, which is only a matter of time, everything will be done to deflect attention from the “biggest rigger of them all.”
In his DVD ‘Elite Emergency Data’ Pastor Williams talks about what will happen when the Affordable Healthcare Bill (Obamacare) comes into full operation. The U.S. will become a nation of low-paid part-time workers. It is already happening. According to Nick Hodge’s research almost half of recent graduates are “underemployed,” working at a low-wage job that doesn’t require a degree. He also says that about eight million people are working part-time because they cannot find full-time work. Nearly 27% of those aged 65-74 are still in the workforce, an increase of 30% in a decade. The Bureau of Labor Statistics estimates that will rise a further 18% by 2022, which means a third of American seniors will still be in the workforce trying to make ends meet. The number of workers in the retail sector now outnumbers those in the manufacturing sector for the first time. While 21% of the jobs lost during the recession were low-wage jobs, over half the jobs created since then have been low-wage. 60% of the jobs lost in the recession were middle-income jobs, but only 22% of new post-recession jobs are middle-income.
In 1960, the top three employers were General Motors, Ford and AT&T, today it is Wal-Mart, Taco Bell, KFC and McDonalds. From manufacturing and exporting to service based industries.
The ultimate result of everything that’s ensued since 2008 is an erosion of trust. Debt holders lose trust in the U.S. ability to pay them back, this is happening now and it threatens the very foundation of the U.S. dollar, which gets its value from trust and nothing else.
Nick Hodges continues “in the beginning of December 2013, China held $1.317 trillion in U.S. treasuries. By the end of the month, it only held $1.269 trillion, meaning it dumped some $48 billion in U.S. paper in one month. That’s the second-largest amount ever.” If China is dumping the U.S. dollar, what is it buying? GOLD!
In 2013 China was crowned the world’s largest gold market for the first time. Chinese consumers bought 1,066 tonnes of gold. Chine was also the world’s top miner, producing 437 tonnes last year. It also imported 1,108 tonnes, a 33% rise in one year. The U.S. officially holds 76% of its foreign reserves as gold, for the Chinese, who hold $3.4 trillion in foreign reserves, they’d need some 58,000 tonnes, or about one-third of the total gold ever mined in the history of the world, to match that 76% ratio. They can either watch the value of their dollars erode with every dollar printed along with the trust that backs it, or they can go on a massive gold-buying spree. China are opting for the latter.
The Wall Street Journal reported that China is now the biggest driver of gold prices “China alone can take up the equivalent of half of the global gold mine output, while a possible recovery in Indian demand could also act as a boost for the yellow metal as long as the Indian authorities reduce import tariffs on gold.” The future of the U.S. is so bleak that our largest holder of debt is cutting its losses and trading in that debt for gold as far as it can see. Pastor Williams has said this time and time again “Gold is the Currency of the Elite!” He’s been trying to warn us, and many ignore his advice. What he told you many years ago and everything he has said has come true. Isn’t it time that you made a decision that “GOLD IS THE ONLY HEDGE!”
Even in so called ‘good times’ we should all have investments in precious metals such as gold and silver not only for rough weather, but as a store of wealth and a hedge against bubbles, resets and corrections. Whilst paper currency is being devalued every time a dollar is printed, gold stays relatively stable. Physical gold and silver is in short supply and really only the price of manipulated and fraudulent ‘paper gold’ that fluctuates. Physical gold will always have a premium over paper gold. The stock market is in another bubble cycle and has been inflating due to quantitative easing. We are now in the tapering phase and the stock markets will now start to fall. A lot of people are starting to understand that all the markets are manipulated for the benefit of the Elite and not them. The only store of wealth to protect themselves from all of this is physical gold and silver. Countries like China, Russia and India know this and have been preparing for a long time. It is time you stored your wealth in gold and silver.
As Pastor Williams has said many times, it is important for you to get your financial house in order. If you have a retirement account, 401k, IRA or have paper currency languishing in your bank account you should consider converting at least some of this investment into physical gold and silver. My own personal recommendation is Regal Assets. They are experts in converting paper 401k and IRA retirement funds into gold, silver and other precious metals. They have an A+ rating with the Better Business Bureau, AAA rating with the Business Consumer Alliance, 5 out of 5 star client rating and preferred membership status with TrustLink, Official retailer listed with the United States Mint and rated #20 in the United States for financial services by Inc. Magazine. They have great customer service to their clients and have a 99.9% client satisfaction rating with all of their testimonials fully verified by TrustLink. They also offer a 7 day delivery guarantee and also pay the first year dues for retirement accounts, which include all the setup fees, administration fees, storage fees and delivery of metals. Give them a call on 1-888-748-6766 or visit their website where you can read many testimonials from their customers.
China
Nearly four years ago Mr. Ken From told Pastor Williams that China was the one to watch. He called it “The Big One.” Mr. From was Pastor Williams’ Elite friend who died about a year and a half ago. He knew everything. He was right, watch China and forget everything else.
Pastor Williams has shared with me an article from ‘Survive & Prosper’ that warns “… that 2014 will be the year of defaults for China.” The article goes on to say that when the China bubble bursts it will “trigger a market crash around the world.” George Soros wrote in early January 2014 in ‘Project Syndicate’ and warned that “The major uncertainty facing the world today is not the euro but the future direction of China. The growth model responsible for its rapid rise has run out of steam”. Soros went on to say that “There are some eerie resemblances with the financial conditions that prevailed in the US in the years preceding the crash of 2008.” Leland Miller, President of China Beige Book International, is warning that 2014 will be the year of defaults for China with China’s subprime lending mushrooming to more than $2 trillion in the last five years. Its corporate bond market now totals $4.2 trillion. Its total credit has surged from $9 trillion in 2008 to $23 trillion, 250% of GDP.
An agricultural financial co-op has closed its doors, and depositors couldn’t withdraw their money and a China Credit Trust wealth-management product of $496 million blew up. The Chinese government bailed them out. On March 7, 2014, China saw its first corporate bond default, when Shanghai Chaori Solar defaulted on its bond payments. It’s unlikely the government will bail them out. A Chinese developer, Zhejiang Xingrun Real Estate Company just defaulted on $567 million of its debt to 15 banks, including 29% of it to China Construction Bank. Nomura Holdings, Inc. now warns “There is a high risk of a sharp correction in real estate prices due to oversupply”. As Pastor Williams has warned, when China falters we will see the start of the global crash.
Please read this article it explains more about what is happening in China and how it will start the great deflation of 2014 to 2019:
http://survive-prosper.com/2014/03/20/2014-the-year-china-bubble-burst/
Returns to the Subject of Global Government
In his article in ‘Project Syndicate’ George Soros returns to the subject of “the absence of proper global governance.” He also talks about “allowing global warming to proceed largely unhindered.” This returns us to the subject of global governance and how the Elite will achieve their goal of a one world government. The way they would finance world government was through “sustainable development” and “Agenda 21”, namely carbon taxes. The Rockefeller Brother’s Fund has been working on climate change since 1984.
According to the UN “Agenda 21 is a comprehensive plan of action to be taken globally, nationally and locally by organizations of the United Nations System, Governments, and Major Groups in every area in which human impacts on the environment.” Sustainable development goes hand in hand with the United Nations Agenda 21 and the green economy. Rosa Koire famously stated that “UN Agenda 21 and Sustainable Development is the action plan implemented worldwide to inventory and control all land, all water, all minerals, all plants, all animals, all construction, all means of production, all energy, all education, all information, and all human beings in the world”. Climate change, formerly global warming is a key agenda point. The Elite decided to propagandise global warming through Nobel Peace Prize winner, oil man, green campaigner and former US Vice-President Al Gore’s film ‘Inconvenient Truth’, which was heavily criticised in the alternative media with less than truthful evidence focusing on an alarmist emotional reaction from those who watched it. Al Gore has profited from supporting climate change policies through smart meter technology and alternative energy. He also partially owns an investment company that sells carbon credits.
The agenda for initiating carbon taxes worldwide was scuppered for a short time due to ‘Climategate’ in 2009 when emails surfaced evidencing a the scandal involving the most prominent scientists pushing the man-made warming agenda. A report published in 2010 by the Rockefeller Brothers Fund said “the impact on public confidence has been great, and it will take a number of years before trust in the science will be restored.” The propaganda campaign for the climate change agenda has not stopped and sadly the carbon tax and ultimately global government is continuing with IMF, World Bank and UN engaging finance ministers from 46 countries including the U.S. into using fiscal policies, such as carbon taxes, to combat climate change.
An article published on Friday April 11th, 2014 by Reuters confirms that carbon taxes are high on the agenda of the IMF, World Bank and UN with IMF Managing Director Christine Lagarde, World Bank President Jim Yong Kim and UN Secretary General Ban Ki-Moon explaining to ministers the fiscal tools thy can use that will benefit the environment while stimulating global economies. Two “intelligent” ways to reallocated resources to benefit the environment were carbon taxes and removing fossil fuel subsidies. Ultimately what this article tells us is that carbon taxes that will finance sustainable development and therefore Agenda 21 and ultimately world government.
Carbon is a very profitable commodity. We are all carbon based life-forms. A carbon tax is a tax on everyone. As well as carbon, the World Bank wants to privatize all water as part of its climate change initiatives. Even the UN is saying Fracking (hydraulic fracturing of rock to release oil and gas) can help slow global warming. Under Agenda 21 everything is for sale.
In Australia where carbon taxes are already levied, former Prime Minister Julia Gillard controversially campaigned in 2010 stating “There will be no carbon tax under a government I lead, but let me be clear: I will be putting a price on carbon and I will move to an emissions trading scheme.” Whilst she claimed there would be no carbon tax, a ‘carbon pricing scheme’ commonly referred to as a carbon tax, was introduced by the Gillard Government and became effective on July 1st, 2012. The Australian federal government reaped just over $4.1 billion from its carbon tax levies in 2012/13.
The scheme is seen as successful in Australia and the UN, IMF and World Bank are now ready to roll out a ‘carbon pricing scheme’ worldwide. Australia is ranked just 12th in gross domestic product (GDP), just consider how much revenue can be generated by countries such as Canada, India, Italy, Russia, Brazil, United Kingdom, France, Germany, Japan, China, the United States and the European Union. The U.S. already has a climate change executive order entitled “Preparing the United States for the Impacts of Climate Change” and it is a major initiative that affects every facet of society. I am sure we will find out what sacrifices must be made in the name of sustainability at the pivotal UN climate change treaty negotiations in Paris in 2015. This all ties into the 2020 global emissions reduction target policy date, and the possible year that we see the inauguration of world government.
What does this all mean for you?
Ultimately it is not a bright picture for humanity across the planet. We are looking at total control of humanity, flora and fauna with all resources controlled by the Elite’s global government funded by carbon taxation under Agenda 21 plans. All of our water will be controlled by private organisations, but first water aquifers will be destroyed by fracking. All of our food will be controlled by private organisations, whether this is genetically modified or not food production will be reduced. Arable land is being bought up under Agenda 21 to enable re-wilding of the planet, we see that with the Bundy incident that the Elite will do anything in their power to take over land. Mega cities are being created in order to house the populous, there is already propaganda promoting smaller “green” living accommodation on television. The IMF and World Bank are going to confiscate your wealth from your pension schemes in order to bail out their criminal friends on Wall Street. The currency of the world will be reset to destroy the middle class, thereby making a two-tier system of rich and poor. The third world will be industrialised with monies generated from resets in order to control their human and natural resources. They will then destroy the derivatives casino and take down by a contrived and well executed plan of action by raising interest rates and initiating ineffective healthcare system that is nothing more than further taxation turning the majority into low-paid part-time workers. All Americans will receive an RFID microchip implant in 2017 according to NBC. Women will be expected to work and pay taxes instead of raising children, this will be carried out by state institutions. The U.S. will be reduced to the status of a second-world economy.
What can you do to protect your family?
Pastor Williams has shared great insight into what you can do to protect your family from what is planned and being implemented right now. The information within his DVDs “Elite Emergency Data” and “Global Currency Reset” are invaluable. It doesn’t matter if the reset has not already occurred. We should be thankful that it has not yet happened. We will see hardship all in good time. We need to prepare. The more people who prepare are not going to be easy for the Elite to control. This is the key, the ‘10 Steps to Avoid the Crash’ are not what the Elite want. They will put a spanner in the works of the Elites dastardly plan for humanity and this planet. Every step we can take to become self-sufficient, to return to the old ways of looking after ourselves instead of relying on third parties. It is up to you to take these steps, do you want to live in the servitude of the Elite as Aldous Huxley has predicted, or do you want to take back your power?
– See more at: http://www.lindseywilliams.net/#sthash.EwUMDzMi.dpuf
Global Currency Reset – Update – March 2nd, 2014
By James Harkin for Lindsey Williams
Over the past few weeks I have been gathering information from numerous sources regarding the Global Currency Reset as well as other stories of note relating to the global financial crash. I have shared some articles with Pastor Williams and asked his opinion and feedback based on what his Elite friend has told him. Please listen to the latest radio interview with Mills Crenshaw. This is the first interview Pastor Williams has had talking about the total global financial collapse and the global currency reset and therefore it is recommended listening.
Many prominent researchers have been talking about the Global Currency Reset you only have to put a search into Google for articles being posted on a daily basis. Of course if there are those who say there will be a GCR there are those who say there won’t be. Unfortunately for those who claim that there won’t be a GCR, Pastor Williams Elite friend has told him this will happen. Furthermore, you only have to read the last newsletter I sent out. In that newsletter I stated that Christine Lagarde, Managing Director of the International Monetary Fund said at Davos World Economic Forum explicitly “WE NEED A RESET IN THE WAY THE ECONOMY GROWS AROUND THE WORLD”, which means the GCR is planned and therefore WILL happen. The only thing we don’t know exactly is when, what was shared was a time frame that was dependent on the IMF and the Elite. Pastor Williams’ Elite friend said within 90 days from his original statement and that would come into the time frame of a Washington Times article from October 2012 entitled ‘U.S. economy on schedule to crash March 4, 2014’. We will shortly see if this is the date, or if it has been postponed. This will be the greatest financial event that has happened for over 1,000 years and it could happen at any time. So please do not hesitate, prepare yourselves and your family now.
Here are two recent articles relating to the Global Currency Reset that you may not have read (be sure to check out the comments on all the articles too):
- ‘Fasten Your Seatbelts the Coming Global Monetary Reset‘
- ‘Jim Willie: We Are Well Past the 11th Hour – The Global Currency Reset Looms‘
I shared with Pastor Williams an article published on February 13th, 2014 written by Michael Snyder relating to ‘20 Signs That the Global Economic Crisis is starting to Catch Fire‘. I also shared an article published by Zero Hedge entitled ‘Does the Trail of Dead Bankers Lead Somewhere?’ Pastor Williams has confirmed “I have read both articles in their entirety. They are correct as I interpret events.”
Pastor Williams also said that “My Elite friend says one year [for global financial crash] BUT I don’t see how they can hold it together that long. I personally am not betting on it. All preparations MUST be made immediately.”
In relation to the Global Currency Reset Pastor Williams said “I expect the Global Currency Reset to happen any day. I am surprised it has not already been announced. What is holding it up – I don’t know. Some little detail undoubtedly.” In another email he said “My Elite friend has been travelling around the country and has not been in contact with me.” And that “I am waiting on the Global Currency Reset, which they keep saying is supposed to take place any day, but the IMF keeps postponing for some strange moment. It could happen any moment.”
The Mills Crenshaw interview [Click Here To Listen] is very important and everyone should listen to it. Pastor Williams told me “I said everything on the Mills Crenshaw [show] that I can say. The last two hours of the show was unexpected. Dr. Rodriguez was supposed to have been on for three hours, but Mills began asking me questions.” The show includes the latest information that Pastor Williams is able to share with us and also warned us not to hesitate with dates because the Global Currency Reset could be weeks or even days away. He said that “Every newsletter is predicting doom and gloom. My Elite friend still insists that the TOTAL collapse is at least one year away.” He also said that he is “…afraid to say anything…” And that his “…record has been so good for many years I don’t want to mislead people so the best thing to do is say nothing.” Relating to Pastor Williams record someone has created a timeline of articles and information that show that he has been correct on multiple occasions. You can check out this record by clicking here.
Regarding Gold & Silver Pastor Williams has said that you still have time to get out of paper, but it would be better to do this sooner rather than later. He confirmed that while there will be confiscation of between 30% & 50% of ALL pension funds there will be no controls on gold and silver. However, he had a warning that after the Global Currency Reset gold and silver will increase in value, since the dollar will be reset at between 30% to 50% less than current prices. He said that the Federal Reserve Note is not a store of wealth, but a loss of wealth and therefore encouraged listeners to the Mills Crenshaw show to invest in gold & silver as soon as possible.
Although I have said this many times before, it is important to get your financial house in order, there are a few companies I recommend if you do not have a local gold bullion dealer you have an existing relationship with, the first and my own personal recommendation is Regal Assets, they are experts in converting paper IRA and 401k retirement funds into gold, silver and other precious metals. They offer a 7 day delivery guarantee as well as pay the first year dues for retirement accounts, which include all the setup fees, administration fees, storage fees and delivery of metals, saving over $500. Give them a call on 1-888-748-6766 or visit their website where you can see many testimonials of their customers. Another gold bullion dealer I recommend for smaller cash purchases of precious metals is GoldSilver.com. Mills Crenshaw, one of Pastor Williams’ friends for over 40 years and a host of a national radio show also offers small unit gold and silver and can be contacted on 1-801-706-2256.
Pastor Williams sent me an article relating to China buying increasing amounts of gold. The article entitled ‘China Declares War’ published on February 20th, 2014 said that in 2013 while the US was busy being caught up in the stock market bull run and with gold offering lacklustre results in 2013 that China never waned and continued to increase purchasing of gold to historic levels. The article goes on to say that China is expecting today’s crumbling fiat currency system to come crashing down and that is why they are pro-actively preparing for a complete reformation of the international monetary system and that those with the most gold will yield the most power when that day comes.
The article concluded about China wanting the SDR (Special Drawing Right, a type of money for governments), because it is not the US dollar. It is issued by the IMF (International Monetary Fund). China is using its willingness to lend money to the IMF to purchase SDR notes and give the IMF money to bail out Europe in order to obtain more votes in the IMF. Its increase in votes would make China the second largest member of the IMF after the United States. The article went on to say that the US is opposing giving China more votes, but Christine Lagarde (Head of the IMF) is pushing to increase the Chinese role. China wants to get rid of the US dollar as the global reserve currency and replace it with the SDR. Finally the article said that China were not planning to use the Yuan to leverage power, instead China is planning on using gold.
Another email Pastor Williams sent to me was relating to Government document FT900. In this document is a category called “Miscellaneous Commodities” relating to the importing and exporting of gold that is well above what the US should be capable of exporting since 1991. The researcher used data from the Gold Fields Mineral Services, the US Census Bureau, the US Mint and Bloomberg to determine the US total demand and supply of gold over the past 20 years. The research said that the US had 7,532 tons of gold available for consumption, but the US consumed 7,605 tons of gold. Therefore the US consumed more gold than was available and therefore it implies that the US should have been a net importer of gold. The researcher then revealed that the US exported 5,504 tons of gold. Ultimately the researcher concludes that there is an unexplained supply gap of 5,577 tons of gold and that the Federal Reserve is the only institution capable of supplying such a large amount of gold. The researcher said that if the Federal Reserve disclosed that most of the gold reserves in the US were gone, it would lead to a major crisis of confidence in the US dollar and US government bonds. This could be the reason the Federal Reserve refused to allow Germany to independently audit their gold reserves held in the US after the US said it would take 7 years to return Germany’s gold. The last audit of gold stored in the US took place in 1953. The researcher claims that when China releases its five year gold storage statistics that it will send ripples through the financial system. I’ll let you make your own mind up on this one, click here to read the report.
I will leave you with a scary parallel. There are eerie parallels between the stock market’s recent behaviour and how it behaved right before the 1929 crash. Please check out this article ‘Scary 1929 Market Chart Gains Traction‘.
Even the UK mainstream media is warning of this new stock market bubble in this article ‘This Is No Recovery, This Is A Bubble – And It Will Burst‘, saying ‘Share prices are high mainly thanks to quantitative easing not because of the strength of the underlying real economy’.
If you have not already watched Pastor Williams’ DVDs ‘Elite Emergency Data’ and ‘Global Currency Reset’ please obtain copies, watch them, take notes and then share the DVDs with friends and family. Also be sure to read and download a copy of my free ‘10 Steps to Avoid the Crash!‘ e-book. It will explain what is happening and how you can protect your health as well as your finances.
Pastor Williams said to me “Something BIG is definitely about to happen. Every newsletter can’t be wrong.” If you have not prepared for the Global Currency Reset and the Total Global Financial Collapse, please do so. Do not wait another minute.
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THE GLOBAL CURRENCY RESET
By James Harkin for Lindsey Williams
Pastor Williams has sent his radio interview schedule that is posted above. He will be discussing alternative and natural healthcare with Dr Rodrigo Rodriguez MD of the IBC Hospital & Health Care Center in Tijuana, Mexico. It will be very important for you to listen to these shows if you value your health. Everything is connected, health and wealth are intertwined and therefore when Pastor Williams talks about the health of the American people it is important that you listen. I am sure he will also talk about the Global Currency Reset during the interviews, so please make sure you take the time to listen.
I was also sent a number of articles by Pastor Williams relating to the Global Currency Reset. The first article he sent me talks about how the currencies of the world will be revalued. Every country under IMF and World Bank control will be valued based upon their assets. This means physical assets as well as the country’s ability to make future profits from such areas as oil extraction, mining, refinement, fishing, forestry and agriculture. The more jobs a country can create to produce tangible goods, the higher the currency value. Around the world the outlook is a positive one, where those country’s currencies are revalued higher will benefit from the ability to improve their lifestyles. For example Africa will see water wells drilled, irrigation systems installed for crop and livestock production to help produce exportable commodities. All of these will see many of the third world countries standards of living raised considerably.
What does this mean for Americans? Max Keiser, of Max Keiser Financial War Reports said this “What will happen is there’s going to be a currency revaluation across the globe. The dollar will probably be cut in half versus its other major trading currencies. Gold in particular will have to be, as it was in the 30’s, valued upward. So gold and precious metals and any currency that beings in a basket of commodities or precious metals as the basis of that currency will, in concert, you’re going to see a revaluation of gold bullion I believe… and you can see the price of gold move up 50, 60% in one day or one week, or it could move 100% in a week. This means that all currencies are going to be revalued against gold and the currency that stands to lose the most would be the US dollar.
And people will wake up in America, as it has happened in other countries, like Iceland recently, or other bail out countries from the IMF, or in Russia, or in the UK in the 70’s and suddenly they wake up and it’s like our currency was devalued by 50%, we’re now being bailed out by the IMF and the world bank, everything at the store costs double or triple or quadruple, and there’s nothing they can do about it because it’s not like these things happening without a careful coordinated plan by the banking establishments around the world that’s setting this all up to go when it needs to go. It’s going to be relatively effortless on their part.”
What Pastor Williams has said is being repeated through many other outlets including King World News “The new system will be backed by hard assets, one of which most assuredly will be gold, and the gold price could well be revalued overnight in that process. The timing of all of this is imprecise, but it’s inevitable. So as much as the short-term price action might have people frustrated, it shouldn’t disturb their long-term view in the least.” Silver Doctors says “Ben Davies states that revaluing gold and backing the monetary system with it could be one of the least disruptive ways out of the credit mess.” Also, “There will be no currency war, but there will be co-ordinated devaluation of all G20 currencies against gold, just like there was in the 1930’s.” Goldseek has said “But, far from being a silly idea, gold revaluation has been a mechanism of restoring solvency to government since central banking was invented and is very much a serious topic now as central banks race to devalue against each other …” GATA also said “Millar stresses the periodic upward revaluation of gold as the mechanism for defeating a deflationary debt depression at the end of an economic cycle” and went on to say “However, it appears that Phase 4 (instability and ultimately deflation due to excessive debt) may have started. If so, Phase 5 (revaluation of the gold price to raise the monetary value of the world monetary base and hence reduce the burden of debt) becomes likely or inevitable. The extent of that revaluation would need to be major according to our calculations, probably by a factor of at least seven times, possibly by up to 20 times the current price of gold.”
A precedent has been set by the book ‘The Silver Bomb’, which said “The era of debt-based economy, which is dependent upon the creation of debt, which is leveraged with still more debt will draw to an end. The free-fall will come to a sudden stop and the hard reset of the respective values of all commodities and currencies will occur. The banks are already preparing for the paradigm shift.”
If you have visited LindseyWilliams.net I recommend that you review the comments section of the latest articles. Our very active and informed commenters have given us hundreds of great comments bearing information that continues to confirm what Pastor Williams has said. There is thorough analysis of the chairman of the IMF Christine Lagarde’s recent speech at The National Press Club including the blatant statement alluding to global currency reset “…forthcoming asset quality and stress tests that will take place in 2014.” Later global currency reset confirmed in her speech at Davos World Economic Forum… “We Need a RESET IN THE WAY THE ECONOMY GROWS Around the World”. The IMF is telling you what they are going to do. Definitely keep an eye out on what the IMF is saying.
Billionaire Hugo Salinas Price has given an interview to Mexican news website Inteligencia Financiera Global stating that “The world is attempting to live by means of the great lie of fiat money. It will not work. You deal with Reality by means of Truth; Truth is thinking that checks with Reality. Gold is money, and if we refuse to face that fact, we are lying.” He also talks about how we got to this current global economic crisis. “We got to this state because our leaders – in Universities and in Politics – have wished to forget Reality and have thought that by using our brains we can get around Reality. Thus our thinkers and political leaders have been attempting to put Reality to one side and in its place, use fictitious money, which can be manipulated to keep people happy.” He goes on to say “Our leaders have chosen mass deceit as their instrument of power. What they will obtain will be utter chaos and disorder, and mass impoverishment.” Price goes on to say “The clear beneficiaries of monetary and credit expansion are those who get the money and the credit first, before the rest of the people. They become wealthier, at least for a time, while the rest of the people sink into diminished well-being. But, eventually, all goes up in smoke and heads begin to roll: those of the guilty as well as those of the innocent.”
Hugo Salinas Price also talks about precious metal markets manipulation saying “Of course the gold and silver markets and manipulated. You have to either be blind or a Harvard Graduate with doctorate in Economics to ignore the fact. The purpose of the manipulation is the same as the purpose of the French Revolutionaries in attacking gold when they were printing their “Assignats” paper money like crazy; to try to suppress the indicator, which showed the destruction they were carrying out with unlimited printing of fiat money. Gold tells the Truth and so it is an enemy of those who wish to deceive their populations. Paul Adolph Volcker, famous head of the Federal Reserve of the US, once stated: “Gold is my enemy”.
On a return to a gold standard he said “A return to a gold standard will not be possible until thinkers and leaders begin to think differently from how they think today. We know for a fact that people in Asia have not forgotten about gold. They are buying gold frantically. They can see what we cannot, that the dollar is doomed. Perhaps a new monetary order may be imposed by China and Russia acting together. At least, that is a hope.” Price also talks about the “thousand individuals” who control the world and that “the people themselves who enslave themselves”.
Mr Price also talks about China accumulating gold at a high rate. He said “… the Chinese are not so silly as to think that gold is no longer of vital interest and importance to humans. China is thousands of years old. The US is not even 250 years old. They know that the rule of the US dollar is coming to an end, and are preparing for that moment. They are not talking about this, because they know that those who think understand China’s motives, while it is useless to explain their motives to those who will not think.
Importantly Hugo Salinas Price talked about the Federal Reserve’s gold reserves. He said “… the US does not have the gold it says it has. The US was the custodian of a gold cookie-jar, and the US government ate up all the cookies. They have no gold left-“.
The second article Pastor Williams sent me more or less confirms what Hugo Salinas Price says relating to the Federal Reserve not having the gold reserves it says it has. Former Assistant Treasury Secretary Dr Paul Craig Roberts has said this of the Federal Reserve “They don’t have any more gold. That’s why they can only give Germany 5 tons of the 1,500 tons it’s holding. In fact, when Germany asked for this delivery last year, the Fed said no. But, it said we will give you back 300 tons … So, they said we will give you back 20% of what you trusted us to keep for you over the next seven years, but they are not even able to do that.” He goes on to confirm that the holdings of gold in the West are being drained and transferred to Asia. Because the Federal Reserve does not have the physical gold they are turning to massive ‘naked shorts’ of gold futures contracts. This has also been discussed in the e-book I wrote in October 2013 detailing ’10 Steps to Avoid the Crash’. In summary Dr Roberts said “They don’t have real gold … So they come in and dump contracts, say in a period of 6 minutes, that are three times the amount of gold COMEX has to make delivery. So, it drives down the price of gold. That’s how they got the price of gold down from $1,900 to $1,250.” This blatant manipulation of the gold markets confirms why the Federal Reserve will not allow anyone to audit their vaults, because they don’t have any.
Dr Roberts also goes on to say “The ability to continue selling these ‘naked shorts’ is now disappearing because there is no gold left to back them up … None of these ETF’s has the gold to back the shares. The ability to continue looting them in order to make good on gold deliveries is running out. So, this will prevent the Fed from selling ‘naked shorts’ to protect the dollar from its policy of quantitative easing … You can’t print $1,000 billion of new dollars every year without causing other holders of dollars to wonder about the value of the money and to seek a way of getting out of it. China has been doing that by going into gold.” This confirms what Pastor Williams has been saying for many years, “get out of paper” and “Gold and silver are the currency of the Elite.”
Roberts predicts, “If people in the West try to move from dollars into bullion and there’s not any to speak of, then you would see a massive rise in the price.” He also predicts “I think, this year, you are going to see a further downturn in the economy. The signs are not only that we do not have a recovery, but it’s going to get worse … Christmas sales were very negative. There’s no growth in people’s income and no jobs. So, if the economy goes down further, what does that mean? It means the deficit widens. It means they have a greater debt ceiling lift. They have to have a bigger ceiling increase, and all of this will alarm the world. They’ll say, good heavens, they already had a trillion dollar deficit. Now it’s gone up, and the Fed can’t stop the quantitative easing without the stock and bond market collapsing. The banks’ solvency will become an issue. So, the world is watching a bigger deficit, more printing of money, and they are likely to start dumping dollars. When they do that, they’ll say ‘gold, I want gold’. There’s not much supply to meet demand, and the price has to escalate. So, I wouldn’t be surprised if that shows up this year.”
Also confirming what Pastor Williams has been told by his Elite friend that the Affordable Health Care Act is not about healthcare. Dr Roberts said “The Affordable Health Care Act is not affordable and doesn’t provide care. It’s a way to loot the poorest people and steal whatever assets they have … The poorest who are supposed to be helped are herded into Medicaid, where any property they own is subject to estate recovery.” Medicaid Estate Recovery is the process initiated by U.S. state governments for recovering payments they made under the Medicaid program to program beneficiaries. The government recovers the sum of payments from the estate at the time of death of the program beneficiary.
A few people have complained that nothing has happened, yet. They should take every day as a blessing when nothing happens, because it is another day they can use to prepare. Most people who read this article will do nothing. I don’t know why people wait until it’s too late. You have the information not only from Pastor Williams, but from many other sources. You know the US debt can no longer continue to spiral out of control. You have the ability to do what you can to protect yourself and your family. Your time to prepare is running out. Those relative few who have taken steps to protect themselves from what is about to happen are going to be glad they did when the dust settles.
To those who are still on the fence, please read through Pastor Williams’ website. Listen to his radio interviews; watch his DVDs and films some of which are freely available on YouTube. Follow the advice given in the free e-book ’10 Steps to Avoid the Crash’. All this help and advice is there to help you protect yourself.
Those of you who haven’t at least converted part of their investments from worthless paper assets into physical gold and silver – I have to ask why you are so hesitant? When the Global Currency Reset happens, it’s likely your investments will halve in value overnight Those who wait and do not take heed the warnings laid out by not only Pastor Williams but other highly respected individuals are taking a very big risk to their family’s health and wellbeing. Please take the warnings shared by a former Federal Reserve Chairman, a Billionaire, even the chairman of the IMF. The Global Currency Reset is real. Gold is more precious now than it ever was, you should now understand why Pastor Williams has repeated many times that Gold and Silver are the currency of the Elite. The collapse is coming, it is inevitable. Protect yourselves and your families. You have the tools, now use them. Stop procrastinating, start doing something however small, today!
If you do not know of a reputable company that can convert your paper assets into physical gold I personally recommend Regal Assets who are an expert in converting your IRA and 401k into gold, silver and other precious metals. The process is relatively painless with only a few forms to complete, so great for those who have never bought gold or silver before. For Pastor Williams’ email list subscribers they will pay the first year dues for retirement accounts, which include all the setup fees, administration fees, storage fees and delivery of metals, saving over $500. They also have a 7 day delivery guarantee. This guarantee is invaluable when the Federal Reserve and COMEX are struggling to deliver. You can contact Regal Assets toll free on 1-888-748-6766. Another service that is good is GoldSilver, for those who want to order smaller quantities of gold and silver for delivery. Mills Crenshaw, one of Pastor Williams’ friends for over 40 years and a host of a national radio show also sells small unit gold and silver and can be contacted on 1-801-706-2256.
“Gold and silver are the currency of the Elite” – Pastor Lindsey Williams
“China is in big trouble!”… News just in before publishing of this newsletter from Pastor Williams, “In Mexico I just talked with a business person from the Philippines who frequents Hong Kong. They briefed me for about an hour about what is happening in China with banking trouble, real estate problems and an unhappy populous. The Chinese N
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40 Central Banks Are Betting This Will Be The Next Reserve Currency
Standard Chartered notes that at least 40 central banks have invested in the Yuan and several more are preparing to. Is this the next reserve currency?
Source: Zero Hedge
As we have discussed numerous times, nothing lasts forever – especially reserve currencies – no matter how much one hopes that the status-quo remains so, in the end the exuberant privilege is extorted just one too many times. Headline after headlines shows nations declaring ‘interest’ or direct discussions in diversifying away from the US dollar… and as SCMP reports, Standard Chartered notes that at least 40 central banks have invested in the Yuan and several more are preparing to do so. The trend is occurring across both emerging markets and developed nation central banks diversifying into ‘other currencies’ and “a great number of central banks are in the process of adding yuan to their portfolios.” Perhaps most ominously, for king dollar, is the former-IMF manager’s warning that “The Yuan may become a de facto reserve currency before it is fully convertible.”
The infamous chart that shows nothing lasts forever…
Nothing lasts forever… (especially in light of China’s recent comments)
As The South China Morning Post reports, Jukka Pihlman, Standard Chartered’s Singapore-based global head of central banks and sovereign wealth funds (who formerly worked at the International Monetary Fund advising central banks on asset-management issues), notes that:
At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility
The US dollar remains in charge (for now)…but
The US dollar is still the world’s most widely held reserve currency, accounting for nearly 33 per cent of global foreign exchange holdings at the end of last year, according to IMF data. That ratio has been declining since 2000, when 55 per cent of the world’s reserves were denominated in US dollars.
The IMF does not disclose the percentage of reserves held in yuan, but the emerging market countries’ share of reserves in “other currencies” has increased by almost 400 per cent since 2003, while that of developed nations grew 200 per cent, according to IMF data.
As SCMP goes on to note, the rising popularity of the yuan among central bankers is probably mainly due to Beijing’s extremely favourable treatment of them as it has sought to encourage investment in the yuan.
For example, central banks enjoy preferential treatment in the qualified foreign institutional investor category, both on the size of the quota and the length of the lock-up period. The QFII quotas given to central banks are not publicly known, but some of those announced by investing central banks are up to 10 times larger than others in the programme and, most importantly, free of any capital controls.
“Central banks and sovereign funds have special treatment,” Pihlman said. “They have the ability to invest in a way that any other investor does not have. When it comes to convertibility, there is nothing formally out there, but it is fully convertible.”
As Pihlman explains, things are accelerating…
Pihlman said “a great number of central banks are in the process of adding [yuan] to their portfolios”.
“The [yuan] has effectively already become a de facto reserve currency because so many central banks have already invested in it,” he said. “The [yuan] may become a de facto reserve currency before it is fully convertible.”
The central banks more likely to add yuan holdings in the future were the ones with “strong trade linkages to China” and those which had relatively large levels of reserves which could consider diversifying more for return-related reasons, he said.
“The [yuan’s] convertibility may be already there for central banks in a way that has got them comfortable to start investing in the currency,” Pihlman said.
We leave it to a former World Bank chief economist, Justin Yifu Lin, to sum it all up…
“the dominance of the greenback is the root cause of global financial and economic crises,”
It appears the world is beginning to listen
Alex Infohub 