Very interesting turn of events in the Ukraine crisis. Germany, France, Russia and Ukraine just agreed to a ceasefire and structuring of a working group moving forward. Absent from the discussions was the United States. One can only speculate at the conversations taking place in Washington right now as two of America's European allies just turned their back and embraced Russia. - JC
The article linked below is very telling of the last days of dollar dominance. Vietnam itself is now openly expressing its concerns with the increase of "foreign currency loans" within the country. The State Bank will not bail-out banks that have been dumping grounds for US dollar inflation. As a top banker in Hanoi has stated:
Wealth, being security of survival, no longer drifts upon the waves of the longing sun, but is now locked into the harvest of gold and silver, both of which bring us backward so we may move forward once again.
This coming September will be 200 years since the first attempt by international bankers to leverage sovereign debt for the purpose of consolidating geopolitical and sociological control of mass populations. The wealth transfer by way of taxation potential of population masses, through human time and labor, represented as human resources, is so great that it amounts to the only real method of wealth accumulation.
The human mind and contention are common bedfellows in that they both seek sameness and comfort in the patterns of everyday life. These patterns are expected to solidify and secure expectations and predictions based on what came before. Yet, what came before is seldom more than a temporary marker of what is to come.
Learn to distinguish the difference between errors of knowledge and breaches of morality. An error of knowledge is not a moral flaw, provided you are willing to correct it; only a mystic would judge human beings by the standard of an impossible, automatic omniscience. But a breach of morality is the conscious choice of an action you know to be evil, or a willful evasion of knowledge, a suspension of sight and of thought.
On May 21, 2014 at the annual meeting of the Bretton Woods Committee, Paul Volcker made comments supporting the concept of a New Bretton Woods. Much of what he had to say supports the ongoing thesis here at Philosophyofmetrics. Here are some excerpts. - JC
Over the last few years an urban myth of sorts has been slowly building which speaks of an imminent reset of all the worlds currencies. It is expected that in one fell swoop the exchange rates of currencies will be adjusted with huge potential windfalls from specific currencies.
There have been two important factors in the world of geopolitics which have been on a collision course since the early 1970's. These two run away trains have built up so much momentum that when they inevitably meet, the crash will shake the very foundations upon which the global economy is built.
In keeping with our energy posts over the last few days, and the one specifically about Vietnam, I thought this one was worth adding. Ensure to read all the articles at dongtalk.com as they are very enlightening on the Vietnamese economy and its viability in the future SDR system. - JC