Reply #36: Ewww, are TPTB finally running out of cards to play? This IS getting

[54anickel]

chilling to watch these days...so far they've been able to pull plays outta their arses to keep things afloat

bit more from that article....

In the 1990s, the I.M.F. played a central role in the bailout of countries in Asia and Latin America, engendering bitterness among their citizens because of the austerity programs imposed as a condition of the rescue. Since then, most of those countries have gotten back on their feet and prospered from their exports, accumulating vast reserves.

Many of them have repaid the I.M.F. and are now talking about setting up their own monetary funds and reducing the I.M.F.’s influence. The I.M.F. has lost income as its lending activities have shrunk, and it faces $100 million in cuts from a $900 million budget. It also plans to sell some of its 103 million ounces in gold bullion to set up an investment fund to generate revenue.

According to the treaty setting up the I.M.F. after the war, the United States must obtain Congressional approval for a sale of gold. Many of the countries that belong to the I.M.F. are resisting sales because they regard the gold as belonging to them. Mr. McCormick said in an interview that the fund contemplated selling about 13 million ounces, to raise about $12 billion. Mr. McCormick said that such a sale would probably not disrupt gold prices, which are at record levels of about $940 an ounce.

I've been forced to fire up my old laptop and have been looking at some of the old bookmarks I set on it back in the early stages of what was sure to be doomsday...makes me wonder if they're finally out of tricks or not. Can currency zones be far behind? There was lots of :tinfoilhat: talk of New World Order and monetary zones back then.

So, what's the status on the Petrodollar these days and how's the buck holding up as the world's reserve currency? (I've got a bet riding on that one!)

Here's an oldie but goodie....

http://www.prosperityuk.com/prosperity/articles/yandol.html
WORKING FOR THE YANKEE DOLLAR
by James Gibb Stuart

Prosperity, January 2002

In the aftermath of 9-11, an American friend of mine said to me, "It seems we have become the 21st century's most hated nation, and we owe it to ourselves, as much as anyone else -- if not to forgive -- at least to understand."

So how can Prosperity contribute to this understanding? Perhaps by retracing history! Particularly financial history!

And for the purposes of this exercise we need only go back some thirty years to 1971, when President Nixon closed "the gold window".

snip>

The American people are not an unkindly people. In times past they have been feted for their generosity. But they need to understand the grievous injustices which are being perpetrated in their name.

Broadly, the US needs to be brought back to earth. If you have something to buy then you need something to sell. You should exchange to the same value.

Today the US gets something for nothing. Real assets are being exchanged for American paper money. America is growing wealthy on the paper money it creates out of nothing, and some day the bubble might burst.

In the meantime, the debt-slaves are getting restless.