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.
Below is my response to a question by Susan. She asked about my true intentions and the possibility of selling false hope. Of course it was done through a point of honest and productive debate, which I appreciate. I felt it was best to also make the reply available as a post. Lately I find questions from readers and the contributions of others are shaping my posts and responses. This is encouraging as it builds a stronger organization of minds. With that being said, we are each the world that we see. Whether we consciously accept it or not. - JC
The official communication from the G20 meetings being held over the last few days is now released. The broad strokes are as follows:
- G20 expects global economic growth to strengthen in 2014
- remains vigilant in face of important risks and vulnerabilities
- G20 nations committed to lifting and rebalancing global demand and achieving exchange rate flexibility
- G20 “deeply disappointed” with the delay in implementing IMF quota and governance reforms agreed in 2010
- urges the US to ratify IMF reforms at earliest opportunity
- if IMF reforms are not ratified by year-end then IMF should develop options for next steps and schedule a discussion of those options
The realization is finally beginning to dawn on many that the dollar may not have much time left as the world's primary reserve currency. The G20 deadline for the US to pass the IMF 2010 Reforms is quickly approaching as both NATO and Russia exchange equal threats over the Ukraine.
The highway wears its scars well.
Each mark and groove tells a story of tragedy and lost. Tears, blood, and fuel have been spilled along its shoulders in order to move the world of commerce forward since the end of the war.
With the onset of the American empire in 1944, the reserve dollar has paved the road to modernization, commercialization, materialization, militarization, democratization, and civilization.