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Old 08-21-2019, 11:02 AM   #541
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You would have thought that pols everywhere would have worked out what happens when you try anything that threatens the control system.

Perhaps they fall for some weasel words that have them thinking it will be good for them, like Saddam Hussein ..........
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Old 09-16-2019, 07:37 AM   #542
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Quote :
Renowned author, lawyer, economist and finance expert James “Jim” Rickards has forecast the US dollar will falter in the wake of a new financial crisis that may be closer to reality than people think.
...
He pointed out the world was completely “unprepared for the next crisis”, which will be far worse than the previous two.
Previous crises
...
With another financial crisis imminent, Mr Rickards posed the question: who is going to bail out the central banks?

“Your only alternatives are turn to the International Monetary Fund (IMF) to basically bail out the world although that is a slow and difficult process.”

If the IMF did bail out the central banks, the process could take six months to a year.

Additionally, Mr Rickards said there were numerous other challenges to an IMF bail-out.

For an IMF bail-out to occur, it would require 85% approval from all member countries.

“If you have a 15% plus 1% blocking power vote then it doesn’t happen.”

He added that the US was the only country in the world with a 16% voting power.

However, he pointed out a small coalition such as BRICS (Brazil, Russia, India, China and South Africa) nations and Venezuela could collectively block any bail out action or put conditions on it.
...
More: https://smallcaps.com.au/jim-rickard...s-future-gold/

Full interview (49 minutes):

Rickards rehashes a lot of the same ideas that he has been saying for a while, but a couple of things stood out to me. He used to talk about a some loose plan amongst the Davos/G20 crowd to use SDRs (the IMF) to bail the world out in the next global systemic crisis. In this interview, he doesn't even mention SDRs and seems to be indicating that there will be a political power struggle within the IMF that will impair any efforts at a bail out.
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Old 09-16-2019, 02:19 PM   #543
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While no mention of SDR's he finishes up speculating on ways around the need for US$ payments for international trade and how a blockchain ledger could record trade with gold the settling system and you would have to be invited to join the system .........
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