Economic Collapse – What I See Happening

Wall Street Golden Calf Worship as GREED
Many write about the looming monetary system crisis, including myself.
Writers call it by many different names: the event, reset, collapse, etc.
Whereas I often share my vision for a world wide agreement of debt free currencies that include complementary community currencies, the institutions are enforcing the perpetuation of this current debt bondage system and suffering.

I have grown weary of frequently reading so much ambiguity and confused thoughts of economic collapse and doom. A persistent economic doom from the 1970’s ’till today, obviously the public economic models are flawed if over all these decades the economists and other experts can not accurately access the operation of the economy.
I will attempt to briefly explain the institutional plans for the international monetary system. Institutional plans do not always work as planned…
I encourage you to research further and I wish for this discussion to grant you clarity, confidence, and strong sense of survival in a emergency situation.

Eurozone crisis domino effect
RESTRUCTURING:
Restructure is more likely than the U.S. default (institutions plan for it, even as they publicly tell you otherwise) because institutions reform and restructure to survive, unless wars and courts prevent them…

{War is also a possibility, but we are doing our best to prevent armed conflict among the developed nations, and end the existing wars in the weaker nations.}

Put the G20 on your “watch” list as they are the finance ministers along with the central banks and IMF who will restructure their international monetary system, and expect the member nations to enforce their policies on obedient trained citizens. Important to realize that Russia and the BRICS org. are part of the bankers’ monetary system and thus they are not our saviours.

national currencies
CURRENCY After The Event:
For the United States there are two major issues about the U.S. dollar (USD) as the World Reserve Currency:
(Dumping the dollar has some advantages for the U.S.)

The dollar is our currency, but it’s your problem.” This is what US Treasury Secretary John Connally said to his counterparts in the Rome G-10 meeting in November, 1971, shortly after the Nixon administration ended the dollar’s convertibility into gold and shifted the international monetary system into a global floating exchange rate regime. The world has been suffering from this “problem” ever since the US obtained the “exorbitant privilege” of issuing the world’s reserve and trade currency under the Bretton Woods system after WWII. –Dollar Imperialism, 2015 Edition by MICHÈLE BRAND and RÉMY HERRERA

1. International Monetary System –
The USD belongs to the nations of the world and not to the united states.
Thus, after “the event” there will be a new dollar, approved by the U.S. federal government and executed by the U.S. Treasury department.
That new currency dollar will belong to the U.S. Treasury and its agents (federal reserve or not).
The currency problem is not that it is “fiat”, neither is the problem derived from not being pegged to gold and silver.
The problem is Confidence and Trust.
The international monetary system has lost trust (remember I said I will be brief, research this on your own, and plenty of helpful posts are on this website, and there is no shortage on the internet)…
Many power brokers can no longer trust the USD debt-based international monetary system.
The securitized debts are all suspect with unknown counter party risks and volatile interest rates, where the securities can no longer be trusted for the stated values; as the home mortgage backed securities (MBS) melt down showed us in 2008.
Fraud, volatility, and risk are too great and fuel uncertainty with malinvestment or anemic  capital investment.
Today we are left with rumours and speculation if the central banks were able to remove/discharge most of the toxic debts from the system and restore liquidity…
Many wars, imperialism, economic sanctions, retaliations, and the massive corruption that was revealed after the 2008 banker bailouts have led to insolvency, and instability among other economic connected problems. Not the least of which has been the depositors’ inability to save with current negative interest rates or rates below inflation (ZIRP/NIRP) bank deposits lose value sitting idle in bank accounts.
The banks see depositors as too great a liability for their balance sheets. Depositors are unsecured creditors at a time when investment banks are feverishly trying to move cash seeking short term and immediate yields.
If you haven’t done so, please remove your savings from the bank.
The international bankers are determined and committed to restoring confidence after “the event”.
The bankers may ask what currency has world wide acceptance and confidence?
If none exist, then create one, or a basket of currencies, preferably digital so that 100% tax compliance and other regulatory controls will be set in place. (How convenient BRICS & IMF both claim to have a solution plan)
Perhaps, you have heard of the Direct Deposit and Cashless Society?

2. Sovereign Debt
This is even a bigger topic…
In the text above I touched on the related foreign side of debt, now take a look from the U.S. perspective:
To remain brief, I will say that most of the USD debt is not for or by the American People.
Thus debt, and taxation as the means of paying off the governments’ debt obligations, is the major concern.
Securitization is the foundation of this concept that has been leveraged and rehypothecated until shadows hide risk in a “shadow banking industry” that is now vastly larger than the real world production and services combined!

If you want to research that rabbit hole then focus on securitization, derivatives, bills of exchange, promissory notes, negotiable instruments, and special purpose (SPV, and SPE). Also be aware of secret black budget projects and off book accounting.
{NOTE that “Money” is not mentioned; because money is an agreement and is negotiable. Currencies, notes, bonds, and securities are the more appropriate terms, rather than “money”.}

Obviously, some or all of the computer archived debt will eventually be discharged and zeroed out.
Some currencies’ value will increase as others’ decline, such as with China and the U.S..
For most of the People, and citizens within nations, the issue will be value and exchange.
What value will the national currencies (electronic bank accounts & cards) have?
How much will food and housing cost?

The International Monetary Fund (IMF) is planning to be a major decision maker with the value of national currencies. They want their SDRs to be the determining factor, but will the member nations agree?
The U.S. has been the lone standout and have failed to ratify, through legislation, the G20 agreement: monetary system structural changes.

{Quick, sidebar: the U.S. claims to protect the USD reserve currency status, but that may not be true. A subtle plan may be to influence (by sanctions and limited warfare) the Eastern power bloc to implement the required services and mechanisms to support a stable redundant/parallel world wide monetary system. China & Russia has finally removed their complacency and implemented alternative credit rating agencies and SWIFT payment system.}

1_broken-trust
The governments and other major corporations apparently have agreed to accept the new government currencies and bonds, as it shifts control away from the established Anglosphere (UK/US and allies) power bloc.
But will you, the People, accept their new monetary  policies?
For the nations, the question is pointless because they are not asking you or the citizens.
Governments do not even disclose the full texts of the international meeting minutes, nor their full text agreements for you to read in its entirety and debate on the mass media news prior to enforcement.

Be not surprised; be prepared.
…have clarity, confidence, and strong sense of survival in a emergency situation.

.
RELATED:
https://ronmamita.wordpress.com/2013/10/19/institutional-watch-financial-control-tug-o-war/
https://ronmamita.wordpress.com/2014/07/24/the-dollars-70-year-dominance-is-coming-to-an-end/
https://ronmamita.wordpress.com/2014/08/15/engineering-global-monetary-leadership-shift-to-the-east/
https://ronmamita.wordpress.com/2014/10/15/puzzle-pieces-monetary-reset-plan/
https://ronmamita.wordpress.com/2014/11/09/russia-may-ban-circulation-of-u-s-dollar/
https://ronmamita.wordpress.com/2014/11/26/detailed-discussion-of-globalist-monetary-system-reform/
https://ronmamita.wordpress.com/2014/12/15/when-the-financial-centers-computers-are-ready-the-yuan-will-be-accepted-as-a-world-reserve-currency/
http://philosophyofmetrics.com/2014/11/25/the-tail-of-the-dragon/
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5 comments on “Economic Collapse – What I See Happening
  1. I recall Catherine Austin-Fitts recommending several years ago that the best way for people to protect themselves was to invest in non-perishable commodities. I would add to that for people to work together in their local communities to locally produce their own food and other basic needs (as in Todmorden in the UK: http://www.incredible-edible-todmorden.co.uk/). That way it won’t make any difference what kind of currency the global banking establishment creates.

  2. RonMamita says:

    HOW DO Empires Die?

    by Martin Armstrong http://armstrongeconomics.com/693-2/2012-2/where-do-empires-go-to-die-and-when-they-do-die-how-do-empires-die/

    I began writing what I thought would be a report. Toward the final chapters in Adam Smith’s Wealth of Nations, he wrote about Public Debt asking why anyone considered it to be quality since all governments defaulted on their debts and never paid them off. I assumed the list wasn’t that long, since everyone knew about the defaults of Spain,
    France, and England. The more I began to investigate since Smith merely made that statement with no reference to such defaults, the more I was left in a state of devastating shock. When it comes to research, those that know me understand that I leave no stone unturned. I allow the research to carry me along a journey of exploration. I never PRESUME anything and try to LEARN myself to round out my knowledge.
    It is almost finished. I am publishing for the first time the Table of Contents. There just seems to be such profound conviction that everyone will flee to gold, gold will save the world, and there is always an alternative for capital to flee. The emails from the Goldbugs just refuse to understand that there is also DEFLATION.
    […]
    If the dollar is the CORE RESERVE CURRENCY and the reserves around the world are really in US government bonds, just how does anyone assume you can flee to the yuan, Brazil or better still to the Euro that will create their desperate vision of hyperinflation? There is not enough assets in those countries combined to absorb the cash in US bonds. Only about 18% of the German DAX freely floats since the rest is tied up in cross-holdings. Only the dollar can absorb that amount of cash. Brazil? Come on! China has its own bubble. Buildings are vacant in ghost cities and the quality of new construction has been extremely poor. Like all emerging markets, it is over-extended.
    When municipals went bankrupt in the 1930s like the city of Detroit, capital was able to distinguish a muni from the feds and not all munis defaulted. However, had the feds defaulted, then they take down ALL the munis at once. There is a HUGE difference between a fringe and a core economy. The assumption is other countries’ reserves will somehow survive a US hyperinflation? Brazil and China combined could NOT absorb all the cash from the US and Europe. Their economies are not that big. To arbitrarily say “giant” money is already in gold – where? How? When? Why is it still fleeing to the dollar sending 10-year rates to record lows?

    Another best kept secret of the Great Depression I have included in the upcoming book on the Great Depression & the Sovereign Debt Crisis of 1931, is the fact that there were vast amounts of private currency being issued at that time because of hoarding and bank failures. There was NO money to even circulate. Of course the socialists did not want to write about that as well because it reflected the collapse in government’s ability to manage the economy.

    It seems axiomatic that whenever a government fails to provide an adequate supply of currency or coin to maintain commercial trade, the people will step in and provide their own fiat to fill the vacuum. This is something the Goldbugs fail to grasp. Money will become whatever the people accept as the medium of exchange and when government fails to provide that medium, they create their own fiat system. Thus, the use of “scrip” during the 1930’s was not a new idea in the United States. During other earlier financial crises such as the Panic of 1837, the Civil War years, and the Panics of 1873, 1893 and especially 1907, many different kinds of private emergency fiat currency had been issued.

    During the American Civil War, they needed metals for guns and ammunition. Nickel was replace with silver being more valuable during war. The shortage of coin was so pervasive, private companies issued Postage Currency as illustrated here advertising on the reverse.

    During the worst periods of the Great Depression, many communities were temporarily deprived of normal monetary supplies and functions because of bank failures, hoarding of money, and inability to collect taxes. People simply had no money to spend. To counteract this situation, various forms emergency currency or “scrip” were issued. The first of these appeared as early as 1931, though it was not until a year later that it was being issued in any appreciable quantities. By February of 1933, according to a Bureau of Foreign and Domestic Affairs estimate, there were over 400 communities using some form of emergency fiat currency – and this was before the official “bank holiday” and the resulting flood of scrip across the country. Gold was hoarded – not used as money.

    Clearly, people will create money if the state fails to provide it. Roman coins exist in quantity today solely due to the very same human trends that appear in every crisis – hoarding. This reduces the VELOCITY of money creating DEFLATION yet INFLATION as costs rise..

    I have stated numerous times that the purchasing power of the Roman denarius collapsed to the point it purchased 1/50th of its previous worth. The German Hyperinflation was 170 marks to the dollar at the beginning to 87 trillion. To compare this with the fall of Rome with money dropping to 1/50th of its former value, that is only 170 to 8500. Rome did not go the way of hyperinflation. It was the CORE economy and it collapse at 170 to 8500 level not 170 to 87 trillion.

    Sorry, but you can die in a desert from extreme heat or freeze to death in Antarctica from extreme cold. To survive, we need a temperate climate to live within. DEFLATION or INFLATION can kill an economy. Empires do not die by HYPERINFLATION – that is reserved for the fringe. When an empire dies, it historically has ALWAYS been by DEFLATION/STAGFLATION. How? Real wealth is driven from the ABOVEGROUND economy into the UNDERGROUND economy where it is hoarded and tucked away. This is why we find hoards of Roman coins. This reduces the VELOCITY of money and commerce collapses. This is ALWAYS AND WITHOUT EXCEPTION how empires die. This is why there was “scrip” issued in the United States during the Great Depression. The VELOCITY of money came to a halt in different regions.

    The British Empire did not die of HYPERINFLATION. The pound collapsed in value. It did not inflate into oblivion. The British Empire simply rolled over and died. The decline of the sterling silver penny of England was no different a path than the decline and fall of Rome. The United States will follow the same path and that means there is a risk that it will break apart into regional sections ONLY AFTER the dollar is hit very hard following Europe and then Japan.

    This is fairly simple. All the hyperinflationists can point to is Germany and Zimbabwe. They can offer not a single historical example of how HYPERINFLATION ever destroyed any empire. I have no vested interest in HYPERINFLATION or DEFLATION. I simply do the research and let the evidence speak for itself. This is just not a personal opinion issue in the least. Both will lead to the same end result – the death of an empire. Why must there be an argument over such nonsense? It is DEAD from fiscal mismanagement!

    The question how do empires die is absolutely critical to surviving the Sovereign Debt Crisis. You can buy gold and listen to this nonsense about hyperinflation and $50,000 an ounce while everything else is worth shit. You will be right insofar as in the end the empire will die. However, you may not make it to the finish line with this myopic view of the world.

    The very word “suburbium” is what the Romans called it. People left the cities fleeing taxes. The population of Rome itself just collapsed. No city ever matched that size again until the Victorian era in London. This is how empires die. The cost of government always rises oppressing the private sector since the public sector is like a drunk – it just consumes and has the hand out claiming he needs money to eat instead of drink.
    The people either leave or revolt in their struggle to cope with the persistent unpredictable demands of government that historically NEVER lives within its means.

    The Goldbugs are not even in the right church forget the right pew. It has never been this battle against what is money. Nor has it concerned a “gold standard” that has not survived the folly of man even once because everything fluctuates in value and cannot be fixed. Sorry. It has always been the perpetual battle against the spendthrift ways of those in power who squanders the resources of the people and assumes authority to extort from them whatever they desire at the moment.

    It matters not what period we look at, the end result NEVER changes. Most of the leading German cities freed themselves in the second half of the 13th century from all forms of subordination to territorial princes, yet they were not as autonomous as the independence republics enjoyed by the Italians. This movement towards autonomy was facilitated by various princes’ urgent financial needs. The great episcopal cities of Cologne, Augsburg and Mainz became free cities. In the struggle for autonomy, possession of financial resources was a decisive factor in victory. Impoverishment, nonetheless, facilitated the return of the lords because of the failure to manage the fiscal spending of the city.
    The city of Mainz had gained its rights to be self-governing in 1118. It had become a free city in 1244. Cities where the patriciate refused to pay direct taxes willingly turned to borrowing even on a permanent basis. Mainz experienced extremely heavy indebtedness, which in turn led to a heavy tax burden on the townspeople. Consequently, there emerged a succession of urban tax revolts led by the guilds in a number of city states such as those in Nuremberg during 1348, followed by 1364, 1370 and 1396 in Cologne, 1355 and 1364-1365 in Frankfurt, 1370 in Augsburg, and 1383 in Lubeck. From about 1332 onwards, the trade guilds (unions) became deeply involved in managing the government Mainz that stemmed the tide of any economic crisis until 1411.

    The popularity of municipal borrowing was closely related to the sale of annuities. Life annuities were sought after by people as a form of insurance providing a sort of pension for their old age. Lenders did not turn over their money to their own town; there was a market for public loans and, in order to reduce risk, people made loans to several cities. In 1408, the Burgermeister of Rothenburg obtained loans from 120 different localities, something which clearly distinguishes borrowing from direct taxation, though in this case what we are witnessing is a mutuum or a voluntary loan, and not a prestitum (which was a forced loan). Short-term borrowing was gradually replaced by the sale of annuities. Life annuities were also favored by governments, as they presented possibilities of profit should bond-holders die. This type of non-redeemable bond entailed a high rate of interest of 10 per cent. Certain cities preferred to replace them with perpetual bonds which meant lower interest rates of between 3 and 5 per cent and which, being redeemable, could easily become a form of short-term credit.
    While the fiscal mismanagement of Cologne and Nuremberg demonstrate how the great German cities’ need for credit expanded regularly, we find great examples of direct and indirect taxation intermixed with floating debt composed of life annuities yielding 10% interest and the confiscation of Jewish property in 1385 that was cheered only because it enabled city states to abandon direct taxation. This was not unlike the targeting of the “rich” today whereas at this point in time the distinction was made based upon religion that justified seizing the wealth of the rich.
    Nevertheless, it was the city of Mainz that provides a colorful an example of the political decline caused by excessive debt and bad management of public finances that we face today. Financial difficulties had led to the trade guilds being involved in the government of the city from 1332 onwards. A major political conflict was thus avoided until 1411 when the payment of debt annuities accounted for 48% of total expenditure.
    In 1411, there was a popular uprising that now forbade the sale of any more debt without the consent of the trade guilds. Yet, the financial conditions continued to worsen. By 1436-1437, about 75% of the total city expenditure was now being consumed by interest. Interest rates began to rise as there were subtle fears that Mainz might not be able to pay its debts. The interest rates climbed as the city tried to find buyers for its debt. The interest rates jumped from 3% to 5% during the 1430s.
    [read more: http://armstrongeconomics.com/693-2/2012-2/where-do-empires-go-to-die-and-when-they-do-die-how-do-empires-die/ ]

  3. RonMamita says:

    World’s Economic Soundbyte

    The strongest growth is in Asian countries, including India.
    This is the new trend.
    Wealth redistribution and capital flows will reflect this in coming decades…
    The Russian federation knows this, others know this…

    Will the U.S. military be used?

  4. RonMamita says:

    Marty Leeds’ Radio Hour, Ep. 23 – Max Igan, Tom Rhodes

    Start at our personal inner vision, heart, mind and thoughts…
    The courage and answers will flow and as we share it will be amplified.

    Posted 17 Feb 2015
    http://thesyncbook.com/
    https://www.youtube.com/user/martyleeds33/videos
    http://www.martyleeds33.com
    https://play.google.com/store/apps/details?id=com.karibastudios.gematria&feature=search_result#?t=W251bGwsMSwyLDEsImNvbS5rYXJpYmFzdHVkaW9zLmdlbWF0cmlhIl0

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