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
Oil, along with other commodities, will soon be priced in the Special Drawing Right issued by the International Monetary Fund. This was first mentioned back in 1979 in a secret White House memo written by Henry Owen for President Jimmy Carter.
Not long after landing in Vancouver and leaving the airport we came upon a small protest along Granville Street. Vietnamese Canadians held signs demanding that China stop the invasion of their homeland. There was a lameness about it as no one appeared to care or give it much attention. In fact, there was a level of irritation over the slowing of traffic and blocking of local business.
Carney was a tool but had the largest steel marbles on the block. The “steely” was the most sought after and traded of all the marbles, and Carney was a grand collector. Myths were born from his ability to bully smaller kids into trading their one or two heavy spheres for ten or twenty smaller and bland marbles. At one point I was certain that he had all the steelies in a 1 mile radius.
It has become increasingly clear to even the most patriotic analyst that the last days of American dominance and hegemony are unfolding within the geopolitical reality of Ukraine. All but the most blind amongst the wasted western hordes, comprising America, Canada, and the European Union, can see the approaching thunderclouds on the horizon.
Charles Dickens masterfully crafted tales which captured the smells and sights of economic destitution. From Oliver Twist to A Christmas Carol, the characters that littered the great storytellers novels found themselves alive during times of hardship, and yet maintained a stubborn sense of kinship.
The overall theme of this site is one of pattern recognition. The focus is on the process of how macro patterns become micro patterns and vice versa. The application of this process, based on a technique of philosophic analysis, is often running against the grain of accepted reality.