Monday, October 7, 2019

The Fed Preparing for the Worse Economic Collapse since the 1930s & The End of The Dollar








The Money Kings simply want an easier way to lie and steal from EVERY person in the world, instead of doing it through each central bank. Unusual remarks and actions by the outgoing head of the Bank of England and other central banking insiders strongly suggest that there is a very ugly scenario in the works to end the role of the US dollar as world reserve currency. In the process, this would involve that the Fed deliberately triggers a dramatic economic depression. If this scenario is actually deployed in coming months, Donald Trump will go down in history books as the second Hebert Hoover, and the world economy will be pushed into the worst collapse since the 1930s. Here are some elements worth considering. Welcome to The Atlantis Report . The about-to-retire head of the very special Bank of England, Mark Carney, delivered a remarkable speech at the recent annual meeting of central bankers and finance elites at Jackson Hole Wyoming on August 23. The 23-page address to fellow central bankers and financial insiders is clearly a major signal of where the Powers That Be who run world central banks plan to take the world. Carney addresses obvious flaws with the post 1944 dollar reserve system, noting that, “a destabilising asymmetry at the heart of the IMFS (International Monetary and Financial System) is growing. While the world economy is being reordered, the US dollar remains as important as when Bretton Woods collapsed.” He states bluntly, “In the longer term, we need to change the game…Risks are building, and they are structural.” What he then goes on to outline is a remarkably detailed blueprint for global central bank transformation of the dollar order, a revolutionary shift. Carney discusses the fact that China as the world leading trading nation is the obvious candidate to replace the dollar as leading reserve, however, he notes, “for the Renminbi to become a truly global currency, much more is required. Moreover, history teaches that the transition to a new global reserve currency may not proceed smoothly.” He indicates that means it often needs wars or depressions, as he cites the role of World War I forcing out sterling in favor of the US dollar. What Carney finds more immediate is a new IMF-based monetary system to replace the dominant role of the dollar. Carney declares, “While the rise of the Renminbi may over time provide a second best solution to the current problems with the IMFS, first best would be to build a multipolar system. The main advantage of a multipolar IMFS is diversification. “ He adds, “ When change comes, it shouldn’t be to swap one currency hegemon for another. Any unipolar system is unsuited to a multi-polar world… In other words he says, “Sorry, Beijing, you must wait.” The Bank of England Governor proposes in effect that the IMF, with its multi-currency Special Drawing Rights (SDR), a basket of five currencies—dollar, Pound, Yen, Euro and now Renminbi—should play the central role creating a new monetary system: “The IMF should play a central role in informing both domestic and cross border policies. Pooling resources at the IMF, and thereby distributing the costs across all 189 member countries”. For that to work he proposes raising the IMF SDR funds triple to $3 trillions as the core of a new monetary system. Then Carney proposes that the IMF oversee creation of a new payments infrastructure based on an international “stablecoin.” Referring to the private Libra, he clearly states a “new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies.” Note that Carney, a former Goldman Sachs banker, is mentioned as a leading candidate to replace Christine Lagarde as IMF head. Is his speech open admission of what is being planned by the world’s leading central bankers as the next step to a world currency and global economic control? Let’s look further. The Carney speech, when deciphered from its central bank language, gives us for the first time a clear roadmap where the powers that control world central banking would like to take us. The world reserve role of the US dollar must end; it must be replaced by some form of IMF SDRs as basis for a multi-currency reserve. That in turn would ultimately be based on digital money, so-called block chain currencies. Such currencies, make no mistake, would be completely controlled by central bank authorities and the IMF. That would require their often-proposed elimination of all cash in favor of digital money where every cent we spend can be monitored by the state. This cashless society would also set the stage for the next great financial crisis and the confiscation by governments of ordinary citizens’ bank deposits under new “bank bail-in” laws now on the books since 2014 in every major industrial country including the EU and USA. The IMF is fully behind the turn to global blockchain digital currencies and use of SDR to replace the dominant US dollar. In a little-noticed speech in November 14, 2018, IMF chief Lagarde strongly indicated that the IMF was behind central bank digital currencies as well as cashless societies. She noted very carefully, “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.” She added, “A new wind is blowing, that of digitalization. What role will remain for cash in this digital world? … demand for cash is decreasing—as shown in recent IMF work. And in ten, twenty, thirty years, who will still be exchanging pieces of paper?” The introduction of this central bankers’ new digital currency world will require, as Carney suggests, dramatic upheavals of the status quo, upheavals that would lead to the end of the dominant role of the US dollar since the 1944 Bretton Woods agreement. As that dollar reserve currency role is a pillar of American power in the world, for that to happen would require nothing short of catastrophe. Is this in fact what the Federal Reserve is quietly planning with its money policies? A remarkable hint of what might be in the works came in an OpEd by the person who until 2018 was the very important President of the New York Federal Reserve Bank, Bill Dudley, who like Mark Carney is a senior Goldman Sachs alumnus. Dudley is no minor actor in the central bankers’ world. Until last year he also was a member of the Bank for International Settlements Board of Directors and chaired the BIS Committee on Payment Settlement Systems and the Committee on the Global Financial System. Dudley, pointing to the Trump trade war policies and economic dangers of same, then issues the following rare undiplomatic declaration: “Trump’s re-election arguably presents a threat to the U.S. and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020.” While it shocked many, Dudley is merely making public what the Fed has done since its creation in 1913 — influence the course of world and US politics stealthily behind the cover of “neutral” monetary policies. Dudley suggests not “Russian interference” but rather Fed interference. The Fed could easily tip the US into crisis. The debt levels of the US economy are at record high levels for private households, Federal government, and US corporate debt. Most US corporations have used growing debt, well over $9 trillion, to make stock buybacks rather than invest in new plant and equipment, fueling an unprecedented bubble in the S&P stocks. The rising stocks are not a sign of economic health but of a dangerous speculative bubble vulnerable to collapse. Were the Fed now to resume rate rises and continue its less-publicized Quantitative Tightening into 2020, a domino-style series of debt defaults, corporate bankruptcies, home mortgage foreclosures, default on car loans and student loans could quickly make a second Trump Presidency in 2020 more than doubtful. However that would be no grounds for the rest of the world opposed to Trump policies to cheer. It would also trigger collapse in major emerging market countries who have borrowed hundreds of billions denominated in US dollars, including Chinese state companies, Turkey, Argentina, Brazil to name a few. EU banks from Italy to Germany to France would fail. If this Dudley scenario comes to pass in 2020 or not, only the key central bank actors know for sure. It is clear that, after almost eleven years since the 2008 global financial meltdown, the unprecedented central bank zero interest rate policies in the EU and until recently the US, have fueled creation of what some call an “everything bubble”, not only in stocks, in corporate and public bonds, in home prices. Is a new Fed intervention to raise rates and tighten credit the event– the deliberate central bank rupturing of this inflated bubble using the excuse of the Trump danger to the world economy– that Carney has in mind when he says, “transition to a new global reserve currency may not proceed smoothly,”! Let us hope not. The coming months will tell. If the head of a central bank is talking about the US loosing it's reserve status, you can bet they already have a plan to replace it but they are not going to let you know what it is until they have positioned themselves to be in control. With the recent change to Basel III banking regulations to allow gold to now be a Tier One asset. It would seem logical that gold is going to be part of this new financial system. This Was The Atlantis Report . Please Like . Share. And Subscribe . Thank You ....







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“Control oil and you control nations; control food and you control the people.” Henry Kissinger


once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
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“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

PHILIP ZIMMERMAN, DER SPIEGEL

“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

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The Tax you pay is The Bill for Staying Stupid

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The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

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USA Banker's Magazine, August 25 1924


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Taxation is legalized Theft
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Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

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"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


There is NO political answer to a spiritual problem!
Steve Quayle


Po
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The modern definition of racist is someone who is winning an argument with a liberal
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When People lose everything and have nothing left to lose , They Lose It !

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Your Greatest Teacher is Your Last Mistake
DAVID ICKE

The one who Controls the Education System , Controls Perception
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Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
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No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
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Freedom is not Free
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Don't Steal The Government Hates The Competition

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"Buy The Rumor , Sell The Fact " Peter Schiff


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" The Government Works for ME , I do not answer to them They Answer to ME "
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The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

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There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

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"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

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The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
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"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

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“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN