“The G20 must be at the forefront in helping to address key global economic challenges. Global economic institutions need to be effective and representative, and to reflect the changing world economy. We welcome the increased representation of emerging economies on the FSB and other actions to maintain its effectiveness. We are committed to maintaining a strong, quota-based and adequately resourced International Monetary Fund (IMF). We reaffirm our commitment in St Petersburg and in this light we are deeply disappointed with the continued delay in progressing the IMF quota and governance reforms agreed in 2010 and the 15th General Review of Quotas, including a new quota formula. The implementation of the 2010 reforms remains our highest priority for the IMF and we urge the United States to ratify them. If this does not happen by year-end, we ask the IMF to build on its existing work and stand ready with options for next steps.”
“It is important that the Brisbane G20 Summit on Nov. 15–16 is a success. In an increasingly integrated global economy, effective forums for economic cooperation are needed.” – From the CFR Memo
On the eve of congressional elections in the United States it’s time to take stock of where we are and what we can expect as we move further into winter and the end of the year. Over the last 4 to 6 years the seeds of the Multilateral Financial System have been planted and it is now time to begin harvesting what has been grown.
Money Changers and the Great Fire of London in 1666
By JC Collins
“There is no proletarian, not even a Communist movement, that has not operated in the interests of money, and for the time being permitted by money – and that without the idealists among its leaders having the slightest suspicion of the fact.”
The previous posts in this series have specifically focused on the process and components of the shift towards a multilateral financial system dominated by the SDR and the International Monetary Fund.
With this installment we will begin to review some of the peripheral aspects and structures that are, and will emerge in support of the centralized economics of tomorrow. One of the major elements of this new economic structure will be a multilateral educational system to support its effectiveness and expansion.
When I first started this blog I wrote a post titled China to Purchase the Federal Reserve. It was a very simple and broad explanation of everything we have been covering in this series. Let’s go full circle and revisit what was meant by the title of that post.
“We are working with Congress to approve the 2010 IMF quota legislation, which would support the IMF’s capacity to lend additional resources to Ukraine, while also helping to preserve continued U.S. leadership within this important institution,”
“We deeply regret that the IMF quota and governance reforms agreed to in 2010 have not yet become effective and that the 15th General Review of Quotas was not completed by January 2014. Our highest priority remains ratifying the 2010 reforms, and we urge the US to do so before our next meeting in April. In April, we will take stock of progress towards meeting this priority and completing the 15th General Review of Quotas by January 2015.”
At first there was nothing but an absolute whiteness. It was an endless emptiness of infinite possibility. With a whisper there appeared a single black dot in the middle of the white vastness. The dot was less than – but would become more. The whisper echoed throughout the absolute and the dot smeared outward from both sides becoming a line. The single line filled the void with purpose and direction.
In October of 2000 I was in Las Vegas for an international mining conference. It was an exciting time in my life. I was preparing to be raised to the sublime level of Master Mason in my local Freemasonic lodge back home. My professional career was on track. And my relationship with my family was one of both satisfaction and reward.