Harry Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out - Q4 Crash

[CrackSmokeRepublican]

Gold and Silver may have a mini-oversold rally here but will fall again later... June Interview:
http://media.blubrry.com/tdi_podcast/p/ ... ode217.mp3
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From March 2011 (expected slow down  but Summer Rally in Markets):

Harry Dent: "Major Crash" Coming for Stocks, Commodities Already Topping Out

The first quarter comes to a close today with major averages at or near multi-year highs. Expect "substantial" further gains for stocks before a "major top" occurs in late summer, says noted forecaster Harry Dent, founder of HS Dent and The Dent Method.
 
The good news, for those long, is Dent predicts the Dow will trade as high as 13,200 by mid-summer and the S&P 500 as high as 1430, or more-than 7% above current levels. The bad news is "then we could see another major crash," Dent says, forecasting the Dow could trade as low as 3300 in a worst-case scenario. "Bubbles go back to where they started or a little lower," he says. "The stock market bubble started at (Dow) 3800 in late 1994."
 
While Dent predicts the Dow's crash will play out over several years, he sees clear and present danger in gold, silver, oil and other commodities. "All investors should lighten up on or sell oil, silver, and gold as the U.S. dollar looks like it has bottomed and should rise ahead," he writes in the March issue of HS Dent Forecast.
 
In the accompanying video, Dent further explains his thinking for why commodities will stumble ahead of stocks, which is the opposite of what happened in 2007-08. In sum, he believes efforts by global central bankers to fight inflation — with the notable exception of the Fed -- will hurt growth in emerging markets as well as demand for many commodities.
 
As for the Fed, they are "checkmated," Dent says, suggesting the Ben Bernanke & Co. are damned if they do QE3 -- because the bond market will freak out -- and damned if they don't -- because the economy and financial markets are so dependent on easy money.
 
Stay tuned for additional segments to hear Dent's views on the economy, housing and the deflationary pressures detailed in his latest book The Great Depression Ahead, a bookend to his 1992 best-seller The Great Boom Ahead.
 
Aaron Task is the host of The Daily Ticker. You can follow him on Twitter at @atask or email him at http://finance.yahoo.com/blogs/daily-ti ... 5-415.html

[Timothy_Fitzpatrick]

CSR, do you think the implementation of the Amero or a world currency would stifle the rise in precious metals?

[CrackSmokeRepublican]

CSR, do you think the implementation of the Amero or a world currency would stifle the rise in precious metals?

Depends on the level of Speculation?  Day-trading, India, some metal working, and some institutional buying play a big part in the pricing of PMs. It's a really small market compared with "bonds" and "stocks" so if most of the world's Bonds basically crapped out, PMs could by default gain more value. The Jews likely have a Plan C like the Amero-SDRs if their global "Scams" go badly for them (instead Goyim).  A lot of people see PMs moving into a time of weaker prices. Summer may have a bull but the Fall is when PMs weaken and there is a lot of Speculative money in them on margin -- that means people will dump them if they don't have further "up" potential.  As long as the "dollar" buys barrels of oil, PMs will be "naturally" contained. It might be a good investment if day-traders get sick of holding it for a "trade".

(Jew?) Marc Faber sees it getting weaker.

Marc Faber: We've Seen S&P High for 2011

by Brett on July 6, 2011

Here's a short but fun Marc Faber interview with Bloomberg Asia.  Worth a watch, as is usually the case with Faber.

A few takeaways on his outlook:

    Believes the S&P has made its 2011 high because the Fed "is done with money printing" for now
    Thinks gold and silver are vulnerable over the next three months, but he wouldn't short the metals

His comments about Bernanke and the average American investor are also quite funny.  Here's the interview, for your viewing pleasure:

[youtube:1pmxchlm]http://www.youtube.com/watch?v=IdgBW-DgiA8[/youtube]1pmxchlm]

[CrackSmokeRepublican]

On the other hand Gold producers are ramping up so "supply" may grow which will cut into rapid gains... probably more seesaw action due to day traders unless the US declares bankruptcy or the Euro dissolves which are not unlikely events at this point. Generally the Winter-Spring are good for PMs, Summer okay, Fall usually stable or declining. QE1-QE2 basically went to a bunch of mostly Jew oriented Speculation.  Little went to actually remove the debt or build anything.  I bet if Jews were removed from the Global financial system, then Gold, Silver and Paper together could be a long-term store of value.  

Here's a producer's point of view:

http://howestreet.com/2011/07/gold-pric ... ng-demand/

[Timothy_Fitzpatrick]

What do you think of that apparent shortage of silver in COMEX?

[Yo Mama]

Harry Dent is a total clown and has no credibility.  Mike Stathis has written about him on his website.

[Timothy_Fitzpatrick]

Harry Dent is a total clown and has no credibility.  Mike Stathis has written about him on his website.

And you have so much more credibility.  :crazy:

[Yo Mama]

And you have so much more credibility.

Yes, I certainly have more credibility than these financial "guru" scammers who populate the paytriotard/alternative media.

[CrackSmokeRepublican]

Interesting show with Mike Stathis.... btw, this entire thing (Global Collapse) was pretty predictable since 2004-5 or so (and the Great Reflation).  I was reading Dr. Kurt Richebacher long before anybody had ever heard of Stathis... FWIW.  I do like his take on Medical Care actually. It is a massive and ongoing "Scam" here in the USA... thanks largely to the Collective J-Tribe.

Stathis is a valuable voice today.

BTW, it looks like a lot of J-Tribe Hedge Funds/Scams will go bust in Commodities over the next few weeks (Q4) like Dent predicted. They'll liquidate "the baby with the bathwater" which will pressure everything like in 2007-2008... Cash will be king as more MFs go down... --CSR

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Christogenea Saturdays - 2011-11-19 - Mike Stathis of AVA Investment Analytics
Submitted by wmfinck on Sat, 11/19/2011 - 23:00

124:29 minutes (14.25 MB)

 

Mike Stathis, Financial Expert, Author, and Producer of the video found below: How the Jewish Mafia Screwed You.

Mike's profressional website is found at  http://avaresearch.com

Mike is the author of several books, including Anerica's Financial Apocalypse, written in 2006 but still every bit as important today.

We highly recommend many of the articles on Mike's site, for anyone who really wants to understand what is happeining to American industry and American financial markets presently and over the past several decades.

http://christogenea.org/audio/download/ ... search.mp3


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The Legacy of Kurt Richebacher

By James Cook 09/21/2011


We call it the housing bubble but really it was the greatest money and credit excess in the history of the world. The immense damage to our economy from the bursting of this bubble continues to haunt us. How is it that a calamity of this magnitude could not be foreseen by our political leadership, our economists, our so-called wizards of Wall Street and all the other experts?

A few people saw it coming. Twenty years ago in 1991, I had been writing about the perils of credit excess and big government for almost two decades. However, what I warned about never seemed to happen. I sounded like a broken record. So few people were interested in gold and silver I gave serious thought to closing my company, Investment Rarities, and doing something else.

Not long after, I came across an interview in a newsletter with a German economist by the name of Kurt Richebacher. He was a financial forecaster who was influenced by Austrian School economics. I called him on the phone and over time we became friends. At that time Kurt was the only significant economist that predicted a dire financial outcome.

As far back as 1996 he was warning about a stock market crash.

    "The bullish wave threatens to come crashing down on the hordes of analysts and investors who bet so heavily – and so foolishly – on their dreams of a perpetual 'stock market boom.'"

In 1999 he wrote,

"The U.S. financial system today hangs in an increasingly precarious position, a house of cards literally built on nothing but financial leverage, speculation and derivatives." As the Nasdaq bubble deflated he wrote in June of 2000, "The decisive cause of every single, serious economic and currency crisis are credit and debt excesses. Apparently, we cannot repeat it often enough: the U.S. credit and debt excesses of the past few years are beyond past experience in history, essentially leaving behind a totally vulnerable economy and financial system."

One of his sternest warnings came in 1999 when he criticized Alan Greenspan for his speech endorsing derivatives.

"To be the leading Central banker of the world, it really ought to be obvious that the overriding consequences of widespread derivatives use is excessive leverage and risk taking... derivatives markets encourage a dangerous shifting of risk to parties with less wherewithal to shoulder potential losses. This is particularly the case during an acute financial crisis precisely when derivative 'insurance' is called for. We see. . .massive shifting of market risk to the highly leveraged and exposed U.S. banking industry and Wall Street firms."

    In 2002 he warned about the collapse of national savings, "The total carnage of national savings is the U.S. economy's most important – but also most widely ignored predicament. . .national savings have been squandered to pay for spending that the consumer cannot afford from his current income."

He continued with a crucial economics lesson, one that the Keynesians have totally failed to grasp. "Ever since Adam Smith, savings has meant exactly one and the same thing in all languages: it is the part of current income that is not spent on consumption. And the key point of this definition is that such savings, and such savings only, make it possible to divert real resources from the production of consumption goods to the production of capital goods.

"To pin down and emphasize the key point: savings from current income represent the economy's supply of capital. Thus, it definitely sets the limits to the financial funds and the real resources that are available for new capital investment. Any increase in consumer spending as a share of GDP correspondingly decreases the economy's capacity for capital formation. It is, of course, easy to replace missing savings with credit creation. But there is no substitute for missing real resources."

    "In the end it is all about capital investment. It is the critical mass in the process of economic growth that generates all the things that make for rising wealth and living standards. Capital investment creates demand, growing supply, employment, productivity, income, profits and tangible wealth."

He concluded,

"The crucial thing to see about the U.S. economy is that its growth during the past few years was driven by uncontrolled debt creation for consumption and financial speculation, while in the process domestic savings and the potential for capital investment have been devastated as never before. . .The first thing to get straight is that this was – and still is – the most outrageous bubble economy in history, far worse than the U.S. bubble of the 1920s and Japan's bubble of the late 1980s." (Remember, this was 2002.)

    "Very few people so far have realized that the U.S. economy is sick to the bone. In the past few years it has been grossly mismanaged, on the macro level through unprecedented monetary looseness on the part of the Greenspan Fed, and on the micro level through corporate strategies that built only mountains of financial leveraging but no factories."

In 2005, he delivered this indictment of the U.S. economy.

    "The ongoing credit explosion is financing a lot of different things, except production and tangible capital formation. Debt growth is almost entirely used for unproductive purposes, such as consumption, imports, government deficits, purchases of existing assets and financial speculation."

He continued, "Credit growth in the United States has gone completely insane. This is sheer Ponzi financing – and like all Ponzi schemes someone will end up holding the bag. At the same time, the diversion of credit into bonds, stock and housing has created an illusion of bulging wealth.

    "This so called wealth creation has its quack origins in loose money and artificially low interest rates; it boosts consumption at the expense of saving and investment. Strictly speaking, this is the exact opposite of wealth creation – impoverishment."

    By 2006 Kurt Richebacher was warning about a pending downturn. "The U.S. economy is in danger of a recession that will prove unusually severe and long. . .The great question is what will happen to the variety of financial asset bubbles in the United States when the housing bubble bursts and the economy slumps."

In the spring of 2007 Kurt Richebacher suddenly lost his eyesight. In our last conversation I could hear the anguish in his voice as he explained to me that he had gone permanently blind. To someone who spent much of their time reading financial reports and economic statistics this was devastating beyond measure. Soon afterwards Kurt Richebacher passed away.

In one of his final newsletters in January of 2007 he wrote with amazing prescience,

    "In our view, the obvious major risk is in the impending bust of the gigantic housing bubble. Home ownership is broadly spread among the population, in contrast to owning stocks. So the breaking of the housing bubble will hurt the American people far more than did the collapse in stock prices in 2000 – 2002. . .Some day, the same will happen to the bond and stock market... Another big risk is the dollar."

It's sad that Kurt Richenbacher did not live to see the sorry outcome of the monetary excesses he warned about. The accuracy of his predictions makes him the soothsayer of the century. The economist Paul Krugman argued in 2002 that the Federal Reserve should do what it could to create a housing bubble; yet, he received a Nobel Prize. Nobody paid much attention to Kurt Richebacher and his accurate forecasts. In a rational world Kurt Richebacher would have won the Nobel and Krugman would have been fired.

Were he alive I'm sure Kurt Richebacher would agree with my view that Paul Krugman, from his influential post at the New York Times is the most dangerous and wrong thinking economist since Karl Marx. Kurt would also have pilloried Mr. Bernanke just as he did Mr. Greenspan. He would argue that the politicians and monetary authorities in charge today suffer a profound economic ignorance. He would agree, they are leading us into catastrophe. He would be warning us about a falling dollar, a bursting bond bubble, a gathering recession and wrong-headed policy prescriptions coming from Washington. He would agree we could not be in worse hands.

James Cook
jcook @ investmentrarities.com
http://www.investmentrarities.com/

[Anonymous]

CrackSmokeRepublican yes it was a alright show, I really do not know if his investment newsletter is a scam too, he bashes all the other newsletter writers. What he mentioned at the end is something I noticed as well, things such as facebook and how they become popular, it is all by the media creating stories for them and adding them into things such as follow on facebook, or using words like tweets. Eli did a show on money that was not bad aweek or two ago about money.

[CrackSmokeRepublican]

Bloomberg:  Chinese President Hu Calls for Reform of IMF SDR Currency Basket  
November 03, 2011, 8:20 PM EDT

By Zijing Wu

Nov. 3 (Bloomberg) -- Chinese President Hu Jintao called for reform of the international monetary system to be advanced "in a steady manner," according to the text of remarks he made to French President Nicolas Sarkozy at a Group of 20 summit today in Cannes, France.

Measures should include changes to "expand the use of" the special drawing rights of the International Monetary Fund, "reform the SDR currency basket, and build an international reserve currency system with stable value, rule-based issuance and manageable supply," Hu said, according to the text distributed to reporters in Cannes.

To contact the reporter on this story: Zijing Wu in London at acrawford6@bloomberg.net

http://www.businessweek.com/news/2011-1 ... asket.html


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How to Make An Economic Disaster to Achieve World Government: A 233-year-old Conspiracy Against Mankind



Posted by Anders under English, Euromed

Nathan Mayer Rothschild (1777-1836): "I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain's money supply controls the British Empire, and I control the British money supply."
 At the G20 meeting on 2 Apr. 2009, Gordon Brown announced an emerging New World Order. The following is about who is in control of this New World Order by controlling the money supply of the world,
running it towards chaos.
Global Research 18 April 2009 (excerpt):  In an April 7 article in The London Telegraph  titled "The G20 Moves the World a Step Closer to a Global Currency," Ambrose Evans-Pritchard wrote: "In effect, the G20 leaders have activated the IMF's power to create money and begin global 'quantitative easing'. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it."

Charles-Dawes Indeed they will. The article is subtitled, "The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity." Which naturally raises the question, who or what will serve as this global central bank, cloaked with the power to issue the global currency and police monetary policy for all humanity? When the world's central bankers met in Washington last September, they discussed what body might be in a position to serve in that awesome and fearful role. A former governor of the Bank of England stated:"The answer might already be staring us in the face, in the form of the Bank for International Settlements (BIS). . . . The IMF tends to couch its warnings about economic problems in very diplomatic language, but the BIS is more independent and much better placed to deal with this if it is given the power to do so."

 The Bank for International Settlements (BIS) was established by Charles G. Dawes in 1930 - (Rothschild agent and Vice President under President Calvin Coolidge from 1925-1929), Owen D. Young , and Hjalmar Schacht of Germany (President of the Reichsbank).

On March 10, 2003, the BIS abandoned the Swiss gold franc as the bank's unit of account since 1930, and replaced it with the Special Drawing Rights of the IMF. There is no doubt that the BIS is moving the world toward regional currencies and ultimately, a global currency. The global currency could well be an evolution of the SDR.

BIShotel_savoyuniversThe BIS is central bank to all major central banks in the world. It is privately owned by central banks themselves, most of whom are also private. It was founded under questionable circumstances by questionable people.  It is accountable to no one, especially government bodies. It operates in complete secrecy and is inviolable Movement of money is obscured and hidden when routed through the BIS. The BIS is targeting regional currency blocks and ultimately, a global currency. It has been hugely successful at building the New International Economic Order, along with its attendant initiatives on global governance.  Proverbs 22:7 provides a useful compass: "The rich rule over the poor, and the borrower is servant to the lender".

And if the vision of a global currency outside government control does not set off conspiracy theorists, putting the BIS in charge of it surely will. The BIS has been scandal-ridden ever since it was branded with pro-Nazi leanings in the 1930s. Founded in Basel, Switzerland, in 1930, the BIS has been called "the most exclusive, secretive, and powerful supranational club in the world." Charles Higham wrote in his book Trading with the Enemy that by the late 1930s, the BIS had assumed an openly pro-Nazi bias, a theme that was expanded on in a BBC Timewatch film titled "Banking with Hitler" broadcast in 1998. In 1944, the American government backed a resolution at the Bretton-Woods Conference calling for the liquidation of the BIS, following Czech accusations that it was laundering gold stolen by the Nazis from occupied Europe; but the central bankers succeeded in quietly snuffing out the American resolution.3

Owen-D.-Young

In Tragedy and Hope: A History of the World in Our Time (1966), Dr. Carroll Quigley revealed the key role played in global finance by the BIS behind the scenes. Dr. Quigley was Professor of History at Georgetown University, where he was President Bill Clinton's mentor. He was also an insider, groomed by the powerful clique he called "the international bankers." His credibility is heightened by the fact that he actually espoused their goals. He wrote: "I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960's, to examine its papers and secret records."

                     Owen D. Young: Agent for Rothschild agent JP Morgan – founder of the BIS   –  founder of RCA and Chairman of General Electric from 1922 until 1939.

Quigley wrote of this international banking network:"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations." The key to their success, said Quigley, was that the international bankers would control and manipulate the money system of a nation while letting it appear to be controlled by the government.
MayerRothschild

Mayer Amschel Bauer Rothschild´s  five sons were sent to the major capitals of Europe – London, Paris, Vienna, Berlin and Naples – with the mission of establishing a banking system that would be outside government control. The economic and political systems of nations would be controlled not by citizens but by bankers, for the benefit of bankers. Eventually, a privately-owned "central bank" was established in nearly every country; and this central banking system has now gained control over the economies of the world. Central banks have the authority to print money in their respective countries, and it is from these banks that governments must borrow money to pay their debts and fund their operations. The result is a global economy in which not only industry but government itself runs on "credit" (or debt) created by a banking monopoly headed by a network of private central banks; and at the top of this network is the BIS, the "central bank of central banks" in Basel.

For many years the BIS kept a low profile, operating behind the scenes in an abandoned hotel. It was here that decisions were reached to devalue or defend currencies, fix the price BIS-buildingof gold, regulate offshore banking, and raise or lower short-term interest rates. In 1977, however, the BIS gave up its anonymity in exchange for more efficient headquarters "The Tower of Basel".

Today the BIS has governmental immunity, pays no taxes, and has its own private police force.  It is, as Mayer Rothschild envisioned, above the law.
The BIS is now composed of 55 member nations, but the club that meets regularly in Basel is a much smaller group; and even within it, there is a hierarchy. In a 1983 article in Harper's Magazine called "Ruling the World of Money," Edward Jay Epstein wrote that where the real business gets done is in "a sort of inner club made up of the half dozen or so powerful central bankers who find themselves more or less in the same monetary boat" – those from Germany, the United States, Switzerland, Italy, Japan and England. Epstein said:
"The prime value, which also seems to demarcate the inner club from the rest of the BIS members, is the firm belief that central banks should act independently of their home governments. . . . A second and closely related belief of the inner club is that politicians should not be trusted to decide the fate of the international monetary system."

 

In 1974, the Basel Committee on Banking Supervision was created by the central bank Governors of the Group of Ten nations (now expanded to twenty). The BIS provides the twelve-member Secretariat for the Committee. The Committee, in turn, sets the rules for banking globally. In a 2003 article titled "The Bank for International Settlements Calls for Global Currency," Joan Veon wrote:

Hjalmar-schacht"The BIS is where all of the world's central banks meet to analyze the global economy and determine what course of action they will take next to put more money in their pockets, since they control the amount of money in circulation and how much interest they are going to charge governments and banks for borrowing from them. . . .
"When you understand that the BIS pulls the strings of the world's monetary system, you then understand that they have the ability to create a financial boom or bust in a country. If that country is not doing what the money lenders want, then all they have to do is sell its currency."

Hjalmar Schacht – founder of the BIS

The power of the BIS to make or break economies was demonstrated in 1988, when it issued a Basel Accord raising bank capital requirements from 6% to 8%. By then, Japan had emerged as the world's largest creditor; but Japan's banks were less well capitalized than other major international banks. Raising the capital requirement forced them to cut back on lending, creating a recession in Japan like that suffered in the U.S. today. Among other collateral damage produced by the Basel Accords was a spate of suicides among Indian farmers unable to getloans.

IMF%20logo"BIS regulations serve only the single purpose of strengthening the international private banking system, even at the peril of national economies.  The IMF and the international banks regulated by the BIS are a team: the international banks lend recklessly to borrowers in emerging economies to create a foreign currency debt crisis, the IMF arrives as a carrier of monetary virus in the name of sound monetary policy, then the international banks come as vulture investors in the name of financial rescue to acquire national banks deemed capital inadequate and insolvent by the BIS."

When governments fall into the trap of accepting loans in foreign currencies, however, they become "debtor nations" subject to IMF and BIS regulation.

Large international banks managed to escape the rules, although they actually carried enormous risk because of their derivative exposure. The mega-banks succeeded in avoiding the Basel rules by separating the "risk" of default out from the loans and selling it off to investors, using a form of derivative known as "credit default swaps."
However, it was not in the game plan that U.S. banks should escape the BIS net. When they managed to sidestep the first Basel Accord, a second set of rules was imposed known as Basel II. The new rules were established in 2004, but they were not levied on U.S. banks until November 2007, the month after the Dow passed 14,000 to reach its all-time high. It has been all downhill from there. Basel II had the same effect on U.S. banks that Basel I had on Japanese banks: they have been struggling ever since to survive.8

Imf-protest 1Basel II requires that banks on a daily basis assess their assets according to a market price of their securities, a rule called "mark to market." If a bank does not have 8% net capital it is technically insolvent.  It was imposed ex post facto, after the banks already had the hard-to-market assets on their books. Lenders that had been considered sufficiently well capitalized to make new loans suddenly found they were insolvent. At least, they would have been insolvent if they had tried to sell their assets, an assumption required by the new rule. (Thus, Bear Stearns became technically insolvent – to be bought by JP Morgan for a song  – even with plenty of money from the Fed. No wonder that JP Morgan has just booked a big profit!!) Financial analyst John Berlau complained: Imposing the mark-to-market rule on U.S. banks caused an instant credit freeze, which proceeded to take down the economies not only of the U.S. but of countries worldwide.

And that is where the conspiracy theorists come in. Why did the BIS not retract or at least modify Basel II after seeing the devastation it had caused? Why did it sit idly by as the global economy came crashing down? Was the goal to create so much economic havoc that the world would rush with relief into the waiting arms of the BIS with its privately-created global currency? The plot thickens."

The Rockefeller-dominated Washington Post April 20, 2009:  The image of a radically transformed IMF is now coming together through internal IMF documents, interviews and think-tank reports.Serving almost as ambassadors to the IMF, central bankers and finance ministers would debate ways to put out the world's economic fires and stifle reckless policies before they ignite new ones – a financial Security Council.
Bowing to a new economic world order, the IMF have vastly expanded authority to act as a global banker to governments rich and poor. And with more flexibility to effectively print its own money, it would have the ability to inject liquidity into global markets in a way once limited to major central banks, including the U.S. Federal Reserve.  The IMF is all but certain to take a central role in managing the world economy. You're talking about global economic management in a way we have never seen." Its bailouts, however, were the bane of many poor countries;

Comment
The BIS and the IMF are a team! They have common banking statistics. and  common external website (JEDH)  and here (the OECD and the  World Bank are also in it)
Reichsbankchef Hjalmar Schacht cooperatimg with Rothschild agents Dawes and Young! As Mussolini (perhaps) said: When Corporations  and state manage us it is fascism!
The G20 proposed the SDRs of Rothschild daughter IMF as a precursor of a world currency – the BIS having already for years been using the SDRs as its currency. So, it seems that Rothschild now has the western economies entirely in his pocket. But there is a joker in Rothschild´s game: China, which is the unhappy owner of 1.9 trillion dollar reserves, is no buying copper (for hybrid cars of the future) in large quantities with that money – instead og SDRs and gold! The first probably does not please Rothschild.
The Wall Street and the Federal Reserve have created the current crisis,  as the Wall Street Crash did in 1929 – has Fed Boss Ben Bernanke previously admitted. 3 members of the Board of the European Central Bank are also on  the Bis Board.
We are on our way to the fascist world government – and the operative centre behind it is the BIS. Behind is the insatiable Talmudic, pharisaic Rothschild dynasty: The  3 goals of the Talmudic/Pharisean Jewish elite, the enemies of all mankind – of ordinary Jews in particular – as seen by an apostate Jew: I. The Melt-Down Of National Borders II. The Melt Down Of Financial Institutions III. The Melt-Down of Christian Culture.

 http://euro-med.dk/?p=8216

 

[CrackSmokeRepublican]

Sarkozy Told Obama China's Yuan Should Be in Special Drawing Rights Basket    

By Helene Fouquet - Sep 22, 2011 12:58 AM ET

French President Nicolas Sarkozy told President Barack Obama that the yuan should be included in the International Monetary Fund's Special Drawing Rights system, a French presidential official said.

Moving toward including the yuan in the SDR basket has been a goal of Sarkozy's this year as France seeks to shape the international financial system during its one-year leadership of the Group of 20 major world economies. Including the yuan in the SDR, a unit of account derived from the value of the dollar, yen, pound and euro, would further integrate the Chinese currency into world markets.

The official, speaking to reporters in New York after Sarkozy met Obama, said France would push for the yuan's inclusion in exchange for increased consumption and trade from China in order to stimulate the global economy. The official spoke on condition of anonymity in line with government rules.

The official didn't say if a timetable for the yuan's inclusion in the SDR was discussed. The Special Drawing Rights basket is reviewed every five years by the IMF's executive board, and the most recent changes took effect in January.

Sarkozy proposed at a one-day seminar in Nanjing in March that the yuan should be included in the SDR. European Central Bank President Jean-Claude Trichet said then that the idea was "worth discussing." U.S. Treasury Secretary Timothy F. Geithner at the same meeting said that "flexible exchange rate systems" and free capital flows were prerequisites for inclusion into the basket. China has neither.
French Push

France has continued to push the issue. Finance Minister Francois Baroin last month told reporters in Beijing that a working group had been set up to address issues related to the yuan's eventual inclusion in the SDR basket.

What isn't clear is whether China wants to be included. Last month Chinese central bank Deputy Governor Yi Gang said the yuan shouldn't rush to join the IMF's currency basket, according to a commentary he wrote in the Caixin Century magazine. Still, his boss, People's Bank of China Governor Zhou Xiaochuan, floated the idea in 2009 of a new international reserve currency based on the SDR to replace the U.S. dollar.

Shen Jianguang, chief economist for greater China at Mizuho Securities Asia Ltd. in Hong Kong, who has worked at the IMF and the European Central Bank, said the push to include the yuan in the SDR basket is "a French idea" that is "meaningless for China" because the yuan needs to be convertible first.

"China wants to do it but do it at their own pace which will minimize financial turmoil," he said.

Shen said Sarkozy could curry more favor with China by pushing Europe to give the Asian nation market-economy status, something Premier Wen Jiabao asked for last week in a speech addressing increasing Chinese investment in Europe.

"There is nothing for free," Shen said.

The yuan slipped 0.1 percent to 6.3907 to the dollar at 12:53 p.m. today in Shanghai.

http://www.bloomberg.com/news/2011-09-2 ... asket.html

[CrackSmokeRepublican]

How the Precautionary and Liquidity Line Will Collapse the United States
Posted on November 22, 2011 by David

The International Monetary Fund has "enhanced" emergency lending windows in an announcement today (the decision was made on November 21, 2011). This decision allows a member country to now fund 500% of its obligated quota. As explained below, this one action will be able to drain our nation's wealth overnight into a plan to save the European Union but will effectively bankrupt us without any approval or oversight by Congress.

The Executive Board of the International Monetary Fund (IMF) approved on November 21 a set of reforms designed to bolster the flexibility and scope of the Fund's lending toolkit to provide liquidity and emergency assistance more effectively to the Fund's global membership.

The United States' obligation to fund the IMF is 17.71%. At 500% of this obligation, the United States can now be responsible for 88.55% of the European Union bailout (0.1771 x 5 = 88.55%). With the European derivatives valued at several hundred trillion dollars, this "enhancement" will destroy the United States' banks and economy.

Our IMF quota is 42,122.40 million SDRs:
II. General Resources Account:    SDR Million    %Quota
       Quota    42,122.40    100.00

An SDR is the precursor to a basket of currencies to replace the US dollar.

Special Drawing Rights (SDRs)

September 13, 2011

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries' official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. With a general SDR allocation that took effect on August 28 and a special allocation on September 9, 2009, the amount of SDRs increased from SDR 21.4 billion to around SDR 204 billion (equivalent to about $328.3 billion, converted using the rate of August 31, 2011).

The role of the SDR

The SDR was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.

The setup started last month:

Bank Of America Dumps $75 Trillion In Derivatives On U.S. Taxpayers With Federal Approval

Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion.

It then continued with the issuance of fiat securities by J.P. Morgan:
J.P. Morgan Chase & Co. to Issue Fiat Securities

Not to be outdone by the Federal Reserve, J.P. Morgan Chase & Co. will issue commercial mortgage-backed securities (CMBS) backed by defaulted loans. Fiat securities may be the only method that J. P. Morgan can use to postpone the inevitable bankruptcy coming from their exposure to the EU derivative collapse.

But today's announcement is the literal final nail in the coffin of the US dollar and our future. This is how redistribution of our wealth goes not to the socially disadvantaged occupiers but to the European elite who have orchestrated the greatest theft in the history of the world.

David DeGerolamo

IMF Enhances Liquidity and Emergency Lending Windows

The Precautionary and Liquidity Line:

    Qualification criteria remain the same as under the PCL. A member needs to be assessed as having sound economic fundamentals and institutional policy frameworks, having a track record of implementing sound policies, and remaining committed to maintaining such policies in the future. A member can seek support when it has either a potential or actual balance of payments need at the time of approval of the arrangement (rather than only a potential need, as was required under the PCL).
    Can be used as a liquidity window allowing six-month arrangements to meet short-term balance of payments needs. Access under a six-month arrangement would not exceed 250 percent of a member's quota, which could be augmented to a maximum of 500 percent in exceptional circumstances where the member faces a balance of payments need that is of a short-term nature and results from exogenous shocks, including from heightened regional or global economic stress conditions.
    Can also be used under a 12 to 24-month arrangement with maximum access upon approval equal to 500 percent of a member's quota for the first year and up to 1000 percent of quota for the second year (the latter of which could also be brought forward to the first year where needed, following a Board review). As under the PCL, arrangements of these durations include Executive Board reviews every six months.


http://ncrenegade.com/editorial/how-the ... ed-states/

[CrackSmokeRepublican]

Updated show... the interviewer Adam Horowitz has a lot of typical "J-Blab" for the first 15 minutes... that can be skipped over... this interview was before MF went down at the end of Oct.


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TDI Podcast: The Great Crash Ahead and Market Cycles to Watch (MP3 Version – #233)

October 9, 2011

Guests: Harry Dent and Larry Williams discuss current market and economic conditions. Harry Dent's latest book, The Great Crash Ahead is now out in bookstores. Some of Harry's latest prognostications about the epic crash that will unfold are delved into as well as a review of some of his earlier predictions. Cycles and the market's direction are the topic for debate with Larry Williams. This is a seasoned pro that can teach us all about investing.

http://media.blubrry.com/tdi_podcast/p/ ... ode233.mp3

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MF Global's Board

Board of directors

At the time of its bankruptcy filing, MF's board of directors was:[32]

    Jon S. Corzine, Chairman and Chief Executive Officer
    David P. Bolger, independent member, formerly Chicago 2016 and Aon Corporation
    Eileen S. Fusco, attorney and CPA formerly for Deloitte & Touche
    David Gelber, independent member, formerly ICAP plc, Citibank NA, Chemical Bank and HSBC
    Martin J.G. Glynn, independent member, former CEO HSBC
    Edward L. Goldberg, founder of Longview Investments, LLC, formerly Merrill Lynch
    David I. Schamis, managing director at J.C. Flowers & Co. LLC,
    Robert S. Sloan, founder and managing partner of S3

In the immediate wake of the bankruptcy, Corzine[33][34] and the board[35] were criticized in the financial press for their apparent non-awareness of the company's condition in the immediate lead-up to the event and their apparent inabilities to manage the risk the company had assumed.

[abduLMaria]

At the time of its bankruptcy filing, MF's board of directors was:[32]

    Jon S. Corzine, Chairman and Chief Executive Officer
    David P. Bolger, independent member, formerly Chicago 2016 and Aon Corporation
    Eileen S. Fusco, attorney and CPA formerly for Deloitte & Touche
    David Gelber, independent member, formerly ICAP plc, Citibank NA, Chemical Bank and HSBC
    Martin J.G. Glynn, independent member, former CEO HSBC
    Edward L. Goldberg, founder of Longview Investments, LLC, formerly Merrill Lynch
    David I. Schamis, managing director at J.C. Flowers & Co. LLC,
    Robert S. Sloan, founder and managing partner of S3

look at all those Jew banksters.

i have a hunch that one of the things that is slowly down a resolution of the MF Global situation is the probably fact that the customer funds ended up in the bank accounts of the Talmud-worshippers.  so now the US gov. has to make it look like they're "doing something" when their prime objective is to protect the self-chosen.

that is what i would call "conflicting objectives".