It’s a scenario many can’t fathom – a global economic cash collapse.
Some bankers are envisioning this scenario, and their solution is abolishing cash altogether and pressing the reset button as WEF founder Klaus Schwab said at the global financial elite Davos conference in 2014.
The Federal Reserve and other central banks have discussed a proposal of abolishing cash in order to charge negative interest rates an idea that has received much backlash. At a recent conference attended by all but two of the Fed’s 17 policymakers as well as central bankers from around the world, “a menu of more exotic proposals” was on the table -including a Fed takeover of short-term debt markets and abolishing cash in order to charge negative interest rates.
Behind the scenes, the central banks are in panic mode – rampant money printing (“quantitative easing”) has flooded the world with U.S. dollars, and they have no more ammunition left to deal with another looming financial crisis.
What a lot of online gurus don’t realize is that a date can’t be put on when this plan would happen. But the how is already well documented. The IMF is planning to replace the U.S. dollar as the world’s reserve currency with the Yuan and the U.S. Dollar itself with it’s SDR (Special Drawing Rights). This plan has been known for years, as far back as 2011 when the IMF publicly stated it wanted to replace the U.S. Dollar. This was also relayed to me by a source.
China and Russia said we needed to replace the U.S. dollar as the world’s reserve currency in 2012-2014. Various financial deals were made with the BRICs nations between 2013-2016 to make this coming shift possible. The $100 billion dollar backed BRIC’s bank is, as of September 2015, fully operational.
Various incidents have happened, including explosions, plane crashes, train crashes, and fires surrounding big financial moves made against the petro-dollar.
Now recently, Poland issued government debt into China’s mainland bond market, with a large bond of 3 billion yuan ($452 million U.S. dollars). This marks a historic milestone for the Renminbi growing internationally. Poland is also the first EU country to issue RMB debt. This is huge and furthers the Renminbi goal of being the new world reserve currency. Following this financial move, there was a car bomb attack at a Chinese embassy in Bishkek, Kyrgyzstan mere days later.
Rickards is also one of several people warning that an economic collapse event is coming. Ron Paul has also warned about an apocalyptic economic collapse event looming around the corner. But what’s coming will be a shift of economic power. I don’t believe it will be a full fledged collapse although I could be wrong. Either way, it’s coming.
Because they are from different political parties, Barack Obama and George W. Bush are supposed to be complete opposites, right? Not quite.
Remember when Hurricane Katrina hit Louisiana in 2005? Over 1,200 people died and property damage was totaled at an estimated $108 Billion. Then-President Bush was heavily criticized for his lack of response, as he stayed on vacation while thousands of Americans endured unthinkable conditions.
So when massive flooding killed 13 people and damaged over 60,000 homes in Louisiana last week, and Obama responded by staying on vacation at Martha’s Vineyard, it reminded a lot of people of Bush’s response. A response that Obama criticized when he was a senator in Illinois.
“Indeed, if there is any bright light that has come out of this disaster, it’s the degree to which ordinary Americans have responded with speed and determination, even as their government has responded with what I consider to be unconscionable ineptitude,” Obama said in 2005.
Now, after receiving criticism for his initial response, and after Donald Trump took the time to visit Louisiana, Obama announced that he intends to visit this week.
However, this situation is just the beginning of the many similarities between Obama and his predecessor. Obama may have criticized Bush when he was campaigning to take his place, but that didn’t stop him from following in the footsteps of Bush’s policies.
Let’s take a look at three times where Obama criticized Bush, and then went on to do the SAME thing once elected:
1. The National Debt – When President Bush was elected in 2001, the national debt was at over $5 Trillion, and by the time he left office in 2009, it was at over $10 trillion. When Obama was campaigning in 2008, he went as far as to call the Bush administration’s spending “unpatriotic.”
“Number 43 added $4 trillion by his lonesome so that we now have over $9 trillion of debt that we are going to have to pay back. $30,000 for every man, woman and child,” Obama said in 2008. “That’s irresponsible. That’s unpatriotic.”
But what did Obama do when HE was the president? He outdid Bush by adding more to the national debt in a shorter time span than any other president with $4 trillion in just four years.
As Obama’s own 8-year term comes to a close, the country’s national debt currently stands at over $19 trillion.
2. Mass Surveillance – It seems almost comical to think of Obama rallying against mass surveillance now, but when he was campaigning against Bush, he was more than happy to point out the importance of constitutionally protected civil liberties.
“This administration acts like violating civil liberties is the way to enhance our security,” Obama said in 2007. “It is not. There are no shortcuts to protecting America.”
Yet since his election, Obama has done nothing to ensure that those civil liberties stay in tact. Instead, Bush’s Patriot Act was replaced with Obama’s USA Freedom Act, and the whistleblower responsible for revealing that the U.S. government is wiretapping innocent Americans, is wanted on Espionage charges.
3. Foreign Policy – Let’s face it, if we were going to talk about all of the ways Obama changed his tune on foreign policy after he was elected, we would be here all day. Drone strikes, Guantanamo Bay, torture, troops in the Middle East, the list goes on. But one of the biggest places where Obama criticized Bush in 2007 was by accusing him of pushing a war in the Middle East that the American people did not want.
“There are going to be some significant institutional issues in terms of ‘how do we constrain a president who is pursing what the vast majority of—not only the American, but also experts and military observers—consider to be a wrong-headed policy,’” Obama said in 2007.
Yet, here we are, nine years later, and we have a president who has consistently pushed foreign polices that have only led to endless war. Who is the president that has continued to arm Syrian rebels, even though there is proof that his programs have failed and the majority of the rebels go on to join ISIS? And who is the president who continues to seek the overthrow of Syrian President Bashar al-Assad, despite the fact that overthrowing dictators in the past has only led to the rise of groups like ISIS? That would be Obama.
These examples are important, not just because they show the glaring similarities between a Republican and a Democratic, but also because they serve as a reminder of the way that first Bush, and now Obama put both our civil liberties and the future of our country in jeopardy.
Tesla founder Elon Musk said in a conference call today that Tesla’s progress has succeeded to level 4 fully autonomous driving. While he was hesitant to make an official announcement he said it’s coming sooner then people think.
“We’re going to end up with complete autonomy, and I think we will have complete autonomy in approximately two years. When I say level 4, I mean level 4 autonomy with the probability of an accident is less than that of person.” ~ Elon Musk while talking with Fortune’s Kirsten Korose.
In June, when Musk was asked at Code Conference whether the Tesla Model 3 would include the autonomous driving feature, he looked like he was going to give a direct answer and then hesitated and talked about another big upcoming event.
This shows that Musk has something big planned and it may just be that the Tesla 3 model car includes autonomous driving.
Musk hinted at this by saying that the technology, the hardware itself exists, but it’s a matter of choosing the software to use that hardware. So the technological capabilities are there and it’s only a matter of implementing them for practical use.
“The hardware necessary for self-driving currently exist, it’s only a question of software.” ~Elon Musk
What may be the hard part is making a car that is less accident prone than humans as Musk suggests. Google and Tesla have both suffered automated car crashes. This might be ultimately the big hurdle to overcome for the Tesla team. Musk ended his speech talking about what Tesla is currently focusing on regarding the automation technology. Tesla is in the process of “developing an advanced narrow AI and improving its advanced neural maps based system,” according to Musk.
This is a huge step for automation technology and a step that will could kill jobs with companies like Uber or Lyft, as humans would soon be replaced with automated driver bots that dispense champagne. The robots are coming for our jobs!
It will be fun to see how police would collect revenue via tickets with autonomous vehicles. Will this become an insurance matter, as surely you can’t charge someone for speeding when it’s their car that is doing the speeding. The greatest excuse ever – “Officer my car was speeding it wasn’t me.”
The reality is some humans are going to be certified assholes when it comes to driving and technology likely can not anticipate the actions of humans speeding or not following the law, while the autonomous car is programmed to follow the speed limit creating another problem to overcome – human recklessness.
What is the TPP, who supports it and why does it matter?
The Trans-Pacific Partnership is a trade deal between 12 Pacific Rim nations that make up 40 percent of the world’s economy. It includes the United States, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru, while excluding countries such as China and Russia.
Some consumer groups have referred it to the TPP as “NAFTA on Steroids.”
The deal will set a new international standard for everything from employment, to food safety, to intellectual property regulations.While it has been in negotiations for several years, the full text of the TPP was kept secret up until last November.
President Obama has been a large proponent of the TPP during his time in office, claiming that it will create new jobs, strengthen U.S. leadership and keep China from controlling the global economy.
So, what do the 2016 presidential candidates think about this deal?
Donald Trump has been critical of the TPP, calling it a “job killer” and saying that it is supported by special interest groups who want to “rape our country.”
Bernie Sanders has rallied against the deal, questioning why the TPP is the answer, when past trade deals haven’t worked.
Green Party nominee Jill Stein is also against the TPP, and she pointed out one very important provision that would give global corporations the power to circumvent U.S. courts.
It’s called the Investor-State Dispute Settlement, or the ISDS, and it has also been criticized by organizations such as the Electronic Freedom Foundation and WikiLeaks. It creates a special court where corporations can sue states and receive taxpayer compensation for “expected future profits.”
So, who supports the TPP other than Obama?
Libertarian Party nominee Gary Johnson told Politico in June that he believes the TPP is “laden with crony capitalism.” He then added to his answer in July, telling CNN that from what he has heard, he would sign it.
Then there’s Hillary Clinton… She initially praised the TPP in 2012, calling it the “gold standard of trade agreements.” Then she changed her tune in 2015 and said that she could support the TPP in its current form.
Her current stance won’t be her final stance, according to Clinton’s longtime friend, Virginia Gov. Terry McAuliffe. He said at the DNC that while Clinton would like to change parts of the deal, she would end up supporting it. McAuliffe later said that he was wrong, and Clinton will always oppose the deal.
The interesting thing about Clinton’s change of heart is that her vice presidential candidate, Tim Kaine, also flip-flopped on the same issue. As a senator in Virginia, Kaine was one of 13 Senate Democrats to vote in favor of giving President “fast-track” authority on the TPP last year. However, after discussing the issue with Clinton, he now says he is against the deal in its current form.
Ultimately, the largest trade deal in history, which consists of over 5,500 pages, raises questions not just about who supports it, but about which countries it excluded and which freedoms it is giving away.
THE EU IS A PLAGUE on Nations Sucking Economies Dry for the IMF and BIS on Steroids. Members of the European Union each year have to pay a fee its like a club for countries and leaders to meet and talk about political things like sending us poor people to war and profiting off of the weapon contracts and private prisons.
As bank stocks continued to implode in the US and UK In the UK Credit ratings fell the UK was downgraded from AAA to a AA Country on the credit rating index by two separate credit agencies.
Shares of Banks in the UK were Also suspended Monday as they plunged from uncertainty of investor “Market Experts.” That couldn’t stop the 2008 Lehman brothers collapse and they won’t stop the next one simply put the central banks are running out of ammo to prevent another Major Crisis. The Reason for the Financial Earthquake that is BREXIT. Is that the EU was interwoven in the UK’s Economy and had it’s claws in several of its financial sectors of government.So Leaving the EU caused the Financial ripple effect due to this.
Also Chinaa has now made its move and cut its Yuan rate Fix in its biggest move since its devaluation last year August 2015 when the PBoC (Peoples Bank of China) devalued the Yuan by as much as 5% in a one week period of time. Causing investors to panic globally and sell off their investments.
No matter the after effects of Brexit on the Economy it is a positive thing to see Britain exit the European Union.
Brexit = Britian’s Exit From the European Union (an idea not liked by the globalist) for obvious reasons.
The British referendum to leave the European Union looms and many sources in the media and my own private ex-Wall Street banker source who we will call “Rich” are chirping about the possibility of putting the final nail in the coffin of the European Union.
Although, he previously warned that a full collapse of the U.S. dollar was going to happen between Sept-October last year and that didn’t come to fruition right now he is 1-1 with his predictions. He’s now warning along with others in the finance industry including Xavier Rolet the HEAD CEO of the London Stock Exchange that if the Brexit happens and Britain leaves the European Union as a result this could cause the collapse of the British pound. Possibly putting the rest of the UK into a recession or depression. Perhaps this is why George Soros is reportedly dumping stocks and buying gold.
“Europe is buried under so much debt and has structural issues, We see the Capital Markets Union (CMU) as not just the hope, but the last hope for the European project.” ~Xavier Rolet
I am loathe to fear monger, and I don’t think the alternative media should stoop to the levels of the mainstream media. I’m not telling you to put your entire life savings into gold or buy some product. This information is to inform you not scare you. But realistically its highly probable that an exit from the European Union could cause the British pound to spiral, sending investors into a frenzy. Not to mention if Britain left the EU other countries could follow in a domino effect quite quickly!