Media
reporting and non-reporting on the broader implications of the US debt
crisis generally contributes to mounting confusion.
This posting attempts to bring some clarity about what is going on in
the world, behind the headlines.
The last blog posting introduced the phenomena of currency wars. Earlier we looked at how the job of government is to ensure that everyone has a way to contribute and benefit from society. Now engaged in an international society should we have governments going after one another with sanctions that suck life out of society?
Currency wars are an example of how removed some of us have become from mutual benefit and bringing goodness to society.
Storehouses of Gold in Asia
Since well before the
American Revolution of 1776, China has supported the US in becoming a Western power. This was not pure altruism. This was self-interest. China wanted to create another Western power
strong enough to balance the European empires of England, Holland, Portugal. Therefore Chinese, and what are now Taiwanese families took gold from their underground storehouses and lent huge amounts of
gold bullion to the US.
Source: David Wilcock’s team of researchers.
http://divinecosmos.com/start-here/davids-blog/1022-lawsuit-end-tyranny-ii
Source: David Wilcock’s team of researchers.
http://divinecosmos.com/start-here/davids-blog/1022-lawsuit-end-tyranny-ii
Recently China balked at the thought of funding attacks against itself
and its neighbouring countries. The families asked for the gold they lent to be returned. The major banking clans that, in effect, own the Federal Reserve, were
apparently required to appear in court within the Bank of International
Settlements (BIS) in September 2010. The BIS was set up as the international arm of the Federal Reserve.
The court case was
about gold contracts going back hundreds of years.
The gold owners won, and the
judgment totaled the astronomic amount of 286-trillion
dollars in today’s dollars. This was reported
by Benjamin Fulford who used to be the chief Asia correspondent for Forbes
business magazine. Because the BIS court was set up to be a secret world court it does not issue records to the public.
However, reports surfaced that the Federal Reserve has delayed making
the big payout. The Federal Reserve
bankers are either unable or unwilling to return the trillions they owe and have taken a
dismissive attitude.
In November of 2011 some of the gold owners filed a
lawsuit in New York State courts for a much smaller amount. This time there is a public record of
the case that is still awaiting a court
hearing.
http://divinecosmos.com/media/Keenan_complaint_11-23-2011_SDNY.pdf
http://divinecosmos.com/media/Keenan_complaint_11-23-2011_SDNY.pdf
We get an idea of the sheer magnitude of the smaller amount
from this Fox News report. We see it is up there with the amounts that the US owes it's major national creditors. http://www.youtube.com/watch?feature=player_embedded&v=ttSmZknU9mI
According to the National Defense Authorization Act passed
into law on New Year’s Eve of 2011, the US debt is now the biggest threat to American
security. The act clearly states
that the US will reposition more military power into the West Pacific. We saw American marines repositioned
into Australia (and therefore China's backyard,) three months later. http://www.youtube.com/watch?v=9NbbKivB2LM
The traditional Eastern US
protectorates, Asian countries that are beneficiaries of US military might, are dumping or considering dumping the US dollar as an international exchange currency, along with US military protection. See the
previous Social Creator blog, and 7-minutes into http://rt.com/programs/keiser-report/episode-271-max-keiser/
The Old World Economy
The
Bretton Woods Agreement came out of the 1944 meeting to establish rules
for a
post WWII
global economy.
West
Germany was the first to unilaterally get out of it, in May
1971. It was simply unwilling to devalue the Deutsche mark in order
to prop up the dollar. Within three months the West German
economy rebounded, and the dollar declined 7.5% against the Deutsche
mark.
The US had gone into debt for the first time in the 20th
century in 1971, because
of the Vietnam War. The heavy debt combined with a negative U.S. trade balance.
Other
nations followed West Germany and began to demand
their gold, based on America's "promise to pay" – that is, to redeem
their dollars for gold. Nixon changed US law in 1971 allowing the
Federal Reserve to legally refuse to honour contracts that required the US to pay in gold. Nixon introduced 'fiat' money, literally backed only by hot air, by declaration. Fiat money is based on law.
Google the definition of 'fiat currency'.
Google the definition of 'fiat currency'.
Looking behind Today's News Headlines
What does today's situation look like, as a currency war scenario?
We have other
countries joining the US military to enforce respect for numbers electronically stored in Federal Reserve and BIS computers. These computer entries are displayed as lights on screens.
The entries were meant to create a faint glow. However they are used to create vast consequences in terms of human misery.
These ciphers must be taken seriously. They represent dollar amounts backed by legal contracts. These Fed and BIS ciphers are abstractions. They cannot be
redeemed for the delivery of gold, food, water, a collaborative
labour force, or anything else of value since 1971.
The earlier blog posting
on BRICS countries suggested that a currency backed by a lot of Asian gold could take
it's place. Forces
allied within NATO might ensure the dollar cannot be dislodged from the
centre of today's international currency exchanges.
Without NATO military in place to enforce other countries to accept the ciphers, our notions of vast dollar amounts of national debts would probably quickly cease. We might experience large scale renewal and abundance around the world.
We would see big changes in the Federal Reserve and Bank of International Settlements abilities to control the world's economy, and control currency exchanges.
For more on currency wars since Roman times until the present, see this article by John Perkins. He has advised the World Bank, United Nations, IMF, U.S. Treasury Department, Fortune 500 corporations, and countries in Africa, Asia, Latin America, and the Middle East. He worked directly with heads of state and CEOs of major companies. His books on economics and geo-politics have sold more than 1 million copies:
http://www.informationclearinghouse.info/article27967.htm
For more on currency wars since Roman times until the present, see this article by John Perkins. He has advised the World Bank, United Nations, IMF, U.S. Treasury Department, Fortune 500 corporations, and countries in Africa, Asia, Latin America, and the Middle East. He worked directly with heads of state and CEOs of major companies. His books on economics and geo-politics have sold more than 1 million copies:
http://www.informationclearinghouse.info/article27967.htm
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