“In recent decades, emerging and developing economies have become bigger players in the global economy. However, their representation at the IMF has not kept pace with these changes. The G20 will continue to pursue reforms to the IMF during 2014 to ensure that country representation at the IMF better reflects the economic weight of its members. These changes will build greater confidence in the IMF’s ability to respond to global economic instability.”
Vietnam has achieved a truly remarkable thing. While being a dumping ground for U.S. dollar inflation and having its own currency consistently devalued, Vietnam has managed to produce one of the fastest economic expansions and modernizations in the history of the world. It’s a model of modernization built upon the experience and lessons of China, Korea, and other Asian countries which developed before it.
Watch this video if you’re interested and have the patience. – JC
The world is willing to restructure the monetary system through the International Monetary Fund but has plans in place to by-pass the western dominated institution if the U.S. Congress does not pass the 2010 Code of Reforms.
The unknown man held his red hand high in front of the cheering crowd. The blood of Louis XVI ran down his forearm and dripped onto the wooden planks beneath. The blade of the guillotine was raised back into position. It would have to wait another 8 months for the head of Marie Antoinette. The crowd roared again as the head of the king was tossed aside.
This essay serves as an Addendum to one of my previous posts titled “China to Purchase the Federal Reserve”. The article itself has generated a lot of interest and many questions. Such things are not easy to prove and take book length discourses to fully understand and grasp the complexity of not just the process, but also the history behind it. Such are the expectations of pivotal events.
It has been rumored for quite some time that the economic powers in the world, namely the Bank for International Settlements, The International Monetary Fund, and the World Bank have been working closely with most of the worlds countries on an economic reset.
The idea behind the reset is to prevent a complete collapse of the banking industry worldwide. When one calculates the amount of debt in the world today, the instability of the whole system is obvious.
Contrary to establishment propaganda, there is no economic recovery taking place. There are many leading indicators to support that statement, none more so than global freight data. The International Transport Forum, in its December, 2013 Statistics Brief, titled “Shifting Economic Mass Towards Emerging Economies Shown in Global Freight Data”, clearly defines how the performance of the advanced (western) economies remains weak, while the performance of the emerging economies are becoming stronger.
Comment: When the whole of Western Civilization is structured around debt, and the continued creation/increase of debt, implementing a “savings tax” and “mass write-offs” is only a temporary solution. Without a fundamental change to how money is created within the system, debt will continue to accumulate and sometime down the road, 5 years, 10 years, maybe 15 years, we will find ourselves back in the same situation, or worse. – JC