IMF calls for new currency to replace the USD as world reserve.

Aaron Sice

Aaron Sice

Domenique Strauss Khan, a self professed socialist and head of the IMF, has released a report calling for the replacement of the USD as world reserve.

The ramifications of this are huge, considering the US are trying to raise their debt ceiling from 14.3 trillion to over 20 trillion just to maintain the status quo.

The IMF are also suggesting that the SDRs be bond backed as an alternative to US treasury bonds, at a time the US are madly trying to sell their debt and having to rely on their own treasury buying their own bonds just to stay afloat.

Next thing we know, the IMF chief is up on some trumped up sex charge and taken off a plane at JFK.

http://www.guardian.co.uk/world/2011/may/15/france-dominique-strauss-kahn-lifestyle

google IMF and you get the scandal, not the report.

http://money.cnn.com/2011/02/10/markets/dollar/index.htm

I remember this happening to another powerhouse figure going against public US policy. Bill Clinton sold aerospace tech secrets to Beijing for campaign funding, a move that barely raises an eyelid with Dubya or Obamarama, and was embroiled in a flimsy " he said, she said" sex scandal that ended up in impeachment.
 
Where is this headed?

It will be a scandal, the idea trumped and then slid back on the table after DSK's removal.

The USD will never again be the world reserve currency once DSK is removed. The US will only be allowed to come back to the world stage with it's currency with something that can be proven more reliable that the IMFs own SDRs.

It might even have to be gold backed.

It might even have to be a mix of less risky, broader expanse of exposed economic factors across capital, manufacturing and minerals markets.

Hmmmm......Mexico has an okay manufacturing base. The US can have the capital base because they are already set up for it and Wait!? Canada has resources!

Voila. The Amero is floated.

Buy gold. Buy gold now as anonymously as possible.

I'm out of stocks as of tomorrow.

I'm out of RE as soon as possible, personally. I see high IRs for the cartel to fund this move.

I'm going back to my tinfoil hat.
 
Jesus christ Aaron, turn off the bloody alex jones radio station.... i feel it's getting you to scared.

Look at the facts.

Stocks - (woolworths will still have people buying crap from them, BHP will have people buying their crap, CBA will have people burrowing their crap) it's not going to fall into a massive heap no matter how many scary articles you read on the internet.

Houses - People are still buying, I/R go up and down, prices go up and down.

I had a wage increase recently 3.5% :) woo woo, i'm actually more wealthy then i have ever been. I don't think things are to bad

Regards,

RH
 
Nope, sorry.

Everything that I said would happen since the start of this mess in Feb 2007 has come true. And I mean everything. I've liquidated property, shares, changed tack and come to a realisation.

I can see the architecture behind the scenes.

And you can call me a nut job if you like - but I'm out and for a long time.

You make it sound like I base all my information on a few random articles.

like redwing said, there's a time to hold and a time to fold.
 
And to further that point, I only recommend buying gold.

I'm getting out because the Market my PPOR is in is too high a bracket for the average Joe and the interest repayments are prohibitive.

I'm getting rid of all my debt being car, cc and mortgage.

I've liquidated all my stocks in the SMSF and fire-sold my art to fund gold purchases.

Sorry but I think the s?!ts gonna hit the fan internationally and while the lower quartile of houses will be pretty good I really think the upper end of the Market will stall, languish, maybe even suffer.

I'm not D&G ing it up. This is just my position to exit my current strategy and realign my goals for the upcoming changes which I can't take advantage of.

Will I be right? No idea. But at least I can look back on it all and be able to explain why I did what, when and why.
 
I agree with Aaron, and think that his strategy is sensible. There is nothing wrong with preparing and protecting yourself if you are in a good spot to do so - even if you're wrong, nothing happens except a little opportunity cost. If you're right, it's the difference between having some wealth and being utterly wiped out.

Imo we are on the cusp of a major change in world politics and power. I'm not saying apocalypse (though desperate people with nuclear weapons can do stupid things) but definitely major upheaval, with the US being relegated to post industrial status whilst the East flourishes.

I think that the current state of the world has been planned out, and also think that those little wars we see in the middle east will coalesce into a big one. Same pattern happened in the 30s/40s - boom, bust, depression, currency wars, currency collapse, war.
 
Aaron Sice said:
Domenique Strauss Khan, a self professed socialist and head of the IMF, has released a report calling for the replacement of the USD as world reserve.

Next thing we know, the IMF chief is up on some trumped up sex charge and taken off a plane at JFK.
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Already the story against him is starting to fall apart. His main problem though is that he's in the US, where justice is deficient, trial is by media & penalties are draconian. His money might help though.

Certainly there will be shocks to the world as the USD eventually goes under, & the US is unlikely to take it quietly.
 
Aaron Sice said:
Next thing we know, the IMF chief is up on some trumped up sex charge and taken off a plane at JFK.
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Reminds me of the real reasons for Iraq:
The unprovoked "shock and awe" attack on Iraq was to serve several economic purposes: (1) Safeguard the U.S. economy by re-denominating Iraqi oil in U.S. dollars, instead of the euro, to try to lock the world back into dollar oil trading so the U.S. would remain the dominant world power-militarily and economically. (2) Send a clear message to other oil producers as to what will happen to them if they abandon the dollar matrix. (3) Place the second largest oil reserve under direct U.S. control. (4) Create a subject state where the U.S. can maintain a huge force to dominate the Middle East and its oil. (5) Create a severe setback to the European Union and its euro, the only trading block and currency strong enough to attack U.S. dominance of the world through trade. (6) Free its forces (ultimately) so that it can begin operations against those countries that are trying to disengage themselves from U.S. dollar imperialism-such as Venezuela, where the U.S. has supported the attempted overthrow of a democratic government by a junta more friendly to U. S. business/oil interests.
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http://www.thirdworldtraveler.com/Iraq/Iraq_dollar_vs_euro.html

Same reason Libya was invaded?
http://www.youtube.com/watch?v=GuqZfaj34nc

Same reason Iran is next?
http://www.reuters.com/article/2010/06/02/iran-euro-selling-idUSLDE65111120100602

I personally see the worlds economic and financial system on the verge of an abyss. Bernanke managed to pull it back by printing trillions, but two years later and the abyss is still there and we are still inching closer.

A restructure of our unsustainable monetary/debt systems seems likely at some point in the next few years, not only for the likes of Greece, but also for the US.

You would have to be crazy not to at least own a little Gold for protection as we just don't know what this sort of unprecedented situation will bring to Australia.
 
Ocean Architect said:
I think that the current state of the world has been planned out, and also think that those little wars we see in the middle east will coalesce into a big one. Same pattern happened in the 30s/40s - boom, bust, depression, currency wars, currency collapse, war.
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That's how I see it too. Were looking at boar war and ww1 all together currently, so aligning for the coming boom thereafter (20/30s) and the ensuing austerity is nothing to turn ones nose up at.
 
DEC said:
I havent read all the reports but why do you say trumped up?
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What they're saying is that he went against IMF policies and wanted more equal distribution of wealth with subsequent prosperity and peace for all instead of the current rape and pillage model, and the rest of the oligarchs decided to take him down
 
DEC said:
Which story in particular led you to this belief?
Google news for Dominique Strauss Kahn
There must be something you can show?
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It looks like lawyers for Dominique Strauss-Kahn may have proof that the managing director of the IMF was having lunch with his daughter at the time he was alleged to be sexually assaulting a Hotel Sofitel maid. The maid alleged he chased her down a corridor and forced her into a room and assaulted her, but material and witness evidence says that Stauss-Kahn had already payed his bill and checked out at the time of the assault. (Reuters)
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next time search a 'little' harder....:rolleyes:
 
DEC said:
Can you link to these please?

I found this from 2008
Nicolas Sarkozy dismay as Dominique Strauss-Kahn in sex scandal
http://www.timesonline.co.uk/tol/news/world/europe/article4972855.ece
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Sarkozy has a lot to gain with DMK out of the way, he was the strongest presidential threat for 2012.
http://www.periscopepost.com/2011/05/did-imf-chief-strauss-kahn-fall-into-a-trap/

& a tweet from Sarkozys party before he was arrested ?
http://www.telegraph.co.uk/finance/...ominique-Strauss-Kahn-Was-it-a-stitch-up.html

Also the media reports he "fled to the airport", when it turns out he was scheduled on that flight to go & meet Merkel, & the police only found him there because he phoned the hotel & asked them to bring his phone to the airport. The whole story sounds a bit fishy.
 
Aaron Sice said:
And to further that point, I only recommend buying gold............................

Looks like one US state likes it also...........the following from a Kiyosaki email I just received..................

.......This month, Utah became the first state in the country to legalize gold and silver coins as currency.

So what does this mean to you, me, the Fed, IRS, and the world? To understand the significance of Utah’s actions, you need to understand the definition of the word “currency.”

As strange as it may seem, governments determine what they think money is. For most of us, money or currency is the paper in our wallets. It only has value because governments have the power to declare paper to be money.....

The reason Utah’s actions are significant is because Utah is taking on the Federal Reserve Bank, IRS, and Washington, D.C.

The Utah state government is bypassing the Fed and the Treasury by accepting gold and silver as money, for example, allowing taxpayers to pay their taxes in gold and silver.

Let me explain further. Let’s say I bought gold in the year 2000 for $300 an ounce. In 2011, with gold at $1500 an ounce, if gold is now treated as money instead of being treated as an investment, I do not have to pay that 28% capital gains tax to the US Treasury.

In this example, of $300 per ounce to $1500 per ounce, a gain of $1200, I do not need to pay 28% of $1200, or $336 per ounce, in taxes to the US Treasury. On 1000 ounces, using the same buy and sell numbers, that is a savings of $336,000 in taxes, or $336,000 staying in my pocket for me to use. Thank you Utah. Tom Wheelwright adds that the change by Utah does not mean that gold will now be treated as money by the Federal government. It should mean that Utah will not tax it when used as money. It will be years before the courts decide whether this change means a change in how gold and silver are taxed.

Not only does this challenge the Fed, IRS, and the US government, it makes gold and silver more valuable. Using gold and silver as money, rather than a taxable investment like stocks, bonds, and real estate, makes gold and silver more desirable, at least in Utah.

One reason there is such a high tax, 28% on gold and silver is simply because the Fed and the tax department do not want us to hold gold and silver. By holding gold and silver, we pull their phony dollars out circulation and mock their corrupt system of counterfeit money.

Utah is truly a story of David taking on Goliath. Minnesota followed Utah later this month, taking a step closer to make gold and silver legal money. North Carolina, Idaho, and at least nine other states have similar bills being drafted. A Republican lawmaker has introduced a bill in Congress to explore the option for the entire US.

If the 28% tax on gold and silver is repealed, you may see a massive rush to own more gold and silver. Repealing the 28% tax is like a 28% increase in value. More importantly, it means 28% more money for those who have been following COR.

In many ways, history is only repeating itself. After all, gold and silver, especially silver, has been real money for thousands of years.
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Interesting stance from one US state in light of the continuous printing of Ponzi dollars.
 
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