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.
“This week, the US Congress again failed to approve a modest appropriation that would have shored up financing for the International Monetary Fund and given China and other emerging economies greater responsibility there. Support for the IMF may seem arcane, but it has important implications for America’s global role – and the signs are not good.”
America was a giant of the 20th Century. The echo of its mighty roar will be heard for the next 50 years as the seeds of its economic power continue to grow in the markets around the world. Just as the East India Trading Company was the spear tip for the growth of the British Empire, so too was American industry and commercialism at the forefront of its expansion into regions and markets around the world.
With this post I will go out on a bit of a limb as I express some of my own opinions and personal experiences in regards to past events and the planned economy of the future, as ultimately expressed by the SDR system which we discuss on this site.
With March quickly coming to an end it appears there will be no passage of supporting legislation in Congress for the IMF 2010 Quota and Governance Reforms.
On Friday, the House of Representatives introduced a new aid bill for Ukraine which did not include the reforms. An earlier version of the bill did in fact include the reforms.
Let us bridge the illusionary vastness between here and there. Ignorance and enlightenment exist together in a timeless dance of creativity. Creativity is injected into all human endeavors. Human endeavors are the place from which productivity emerges. As such human productivity is supported by both ignorance and enlightenment. Perhaps one cannot exist without the other. Here and there both occupy the same space.
Purchasing Power Parity and Arbitrage are two terms that everyone should make themselves aware off as the world’s economy moves closer toward a centralized SDR trade system through the International Monetary Fund with accounts balanced by the Bank for International Settlements.
Purchasing Power Parity is the balance between exchange rates when there is also balance in the domestic purchasing power of the currencies.