This post was published at jsnip4
This post was published at jsnip4
This week the International Monetary Fund shocked some economic analysts with an announcement that America was “no longer first in the world” as a major economic growth engine. This stinging assertion falls exactly in line with the narrative out of the latest G20 summit; that the U. S. is fading away leaving the door open for countries like Germany and China to join forces and fill the power void. I wrote about this rising relationship between these two nations as well as the ongoing controlled demolition of America’s economy in my article ‘The New World Order Will Begin With Germany And China’.
I find it interesting that the IMF is once again taking the lead on perpetuating the image of a failing U. S., just as they often push for the concept of a single global currency system to replace the dollar as the world reserve. The most common faulty counter-argument I run into when outlining the globalist agenda to supplant the dollar with the Special Drawing Rights basket system is that “the IMF is a U. S. government controlled organization that would never undermine U. S. authority.” Obviously, the people who make this argument have been thoroughly duped.
The IMF is constantly and actively undermining America’s economic position, because the IMF is NOT an American controlled organization; its loyalty is to globalism as an ideology as well as the international financiers that dominate central banking. America’s supposed “veto power” within the IMF is incidental and meaningless – it has not stopped the IMF from chasing the replacement of the the dollar structure and forming the fiscal ties that stand as the root of what they sometimes call the “global economic reset.”
This post was published at Alt-Market on Thursday, 27 July 2017.
Many everyday citizens assume powerful global financial elites operate behind closed doors in secret conclaves, like the scene of a Spectre board meeting in the recent James Bond film.
Actually, the opposite is true. Most of what the power elite does is hidden in plain sight in speeches, seminars, webcasts and technical papers. These are readily available from institutional websites and media channels.
It’s true that private meetings occur on the sidelines of Davos, the IMF annual meeting and G-20 summits of the kind just concluded. But the results of even those secret meetings are typically announced or leaked or can be reasonably inferred based on subsequent policy coordination.
This post was published at Zero Hedge on Jul 25, 2017.
The International Monetary Fund agreed to a new conditional bailout for Greece, ending two years of speculation on whether it would join in another rescue and giving the seal of approval demanded by many of the country’s euro-area creditors.
The Washington-based fund said Thursday its executive board approved ‘in principle’ a new loan worth as much as $1.8 billion. The disbursement of funds is contingent on euro-zone countries providing debt relief to Greece.
‘As we have said many times, even with full program implementation, Greece will not be able to restore debt sustainability and needs further debt relief from its European partners,’ IMF Managing Director Christine Lagarde said in a statement. ‘A debt strategy anchored in more realistic assumptions needs to be agreed. I expect a plan to restore debt sustainability to be agreed soon between Greece and its European partners.’
IMF officials estimate that, even if Greece carries out promised reforms, the nation’s debt will reach about 150 percent of gross domestic product by 2030, and become ‘explosive’ beyond that point. European creditors could bring the debt under control by extending grace periods, lengthening the maturity of the debt or deferring interest payments, the IMF said in a report accompanying the announcement.
This post was published at bloomberg
The world is leaning less on its biggest economy to sustain the global recovery, according to the International Monetary Fund.
The fund left its forecast for global growth unchanged in the latest quarterly update to its World Economic Outlook, released Monday in Kuala Lumpur. The world economy will expand 3.5 percent this year, up from 3.2 percent in 2016, and by 3.6 percent next year, the IMF said. The forecasts for this year and next are unchanged from the fund’s projections in April.
Beneath the headline figures, though, the drivers of the recovery are shifting, with the world relying less than expected on the U.S. and U.K. and more on China, Japan, the euro zone and Canada, according to the Washington-based IMF.
The dollar fell to its lowest in 14 months last week as investors discounted the ability of President Donald Trump’s administration to deliver on its economic agenda after efforts by the Republican Senate to overhaul health care collapsed.
‘U.S. growth projections are lower than in April, primarily reflecting the assumption that fiscal policy will be less expansionary going forward than previously anticipated,’ the IMF said in the latest report.
This post was published at bloomberg
Via The American Herald Tribune,
Bolivia’s President Evo Morales has been highlighting his government’s independence from international money lending organizations and their detrimental impact the nation, the Telesur TV reported.
“A day like today in 1944 ended Bretton Woods Economic Conference (USA), in which the IMF and WB were established,” Morales tweeted. “These organizations dictated the economic fate of Bolivia and the world. Today we can say that we have total independence of them.”
Morales has said Bolivia’s past dependence on the agencies was so great that the International Monetary Fund had an office in government headquarters and even participated in their meetings.
Bolivia is now in the process of becoming a member of the Southern Common Market, Mercosur and Morales attended the group’s summit in Argentina last week.
This post was published at Zero Hedge on Jul 25, 2017.
The following video was published by X22Report on Jul 25, 2017
Eight state have not recovered jobs since the great recession, we need to remember this is the manipulated job numbers. Case-Shiller reports prices for homes in the 20 cities have surpassed the housing bubble prior to 2008. Fed very worried about commercial real estate, apartment building are being built at an extremely fast pace. The Fed is pushing for a real-time payment system. The IMF has already hinted that they will most likely move their office to China within the next couple of years. The transition from one system to another is happening ever so quietly. The corporate media is now pushing the reason why the economy has been downgraded, its because of Trump.
Over the last several years, mainstream analysts have built a wall of optimism about the US economy. ‘Everything looks great,’ they say. ‘Look at the jobs numbers!’ ‘Look at the stock market!’
A number of contrarians have said things aren’t so great and a massive crash is on the horizon. The mainstream has pretty much ignored the naysayers. But a recent report by the International Monetary Fund shows some cracks in the wall of mainstream optimism. And in the current political climate, it may not take much to cause the wall to crumble down.
The recent collapse of Republican efforts to reform healthcare has rekindled doubts about Trump’s ability to push through his ambitious economic agenda. The real concern is if enough people lose faith in the Republican’s ability to fix healthcare, reform the tax system, and pass a significant infrastructure spending bill, it will prick the stock market bubble and set off a crash.
It seems we’re beginning to see signs of doubt. On Monday, the IMF released its World Economic Outlook, featuring a downward revision in the economic growth forecast for the United States. The IMF estimated US growth at 2.1% both this year and next. In the April World Economic Outlook, it had forecast US growth of 2.3% in 2017 and 2.5% in 2018.
This post was published at Schiffgold on JULY 25, 2017.
In a comment sure to stir up questions over dollar hegemony (and new world order conspiracy thoughts), IMF Managing Director Christine Lagarde admitted during an event today in Washington that The International Monetary Fund could be based in Beijing in a decade.
As Reuters reports, Lagarde said that such a move was “a possibility” because the Fund will need to increase the representation of major emerging markets as their economies grow larger and more influential.
“Which might very well mean, that if we have this conversation in 10 years’ time…we might not be sitting in Washington, D. C. We’ll do it in our Beijing head office,” Lagarde said. Lagarde’s comments build on questions raised in May on The IMF’s push for World Money… Yi Gang, the Deputy Governor of the People’s Bank of China disclosed to the IMF panel that,
‘China has started reporting our foreign official reserves, balance of payment reports, and the international investment position reports.’ ‘All of these reports, now, in China are published in U. S dollars, SDR and Renminbi rates… I think that has the advantage of reducing the negative impact of negative liquidity on your assets.’
This post was published at Zero Hedge on Jul 24, 2017.
Unlike the other big central bank buyer of gold, China, Russia is continuing to add to its gold reserves and reporting its increases. China has not reported any reserve increases since last October, but the general belief is that it is almost certainly adding to its gold reserves big time regardless and only reporting its increases when it deems it opportune to do so. Certainly known gold flows into the country, together with its own gold output as comfortably the world’s No. 1 gold producer, suggests this as China’s estimated gold consumption probably only accounts for around half of that being absorbed by the country on an annual basis, and this disregards any gold being imported from unknown sources that may not find its way into official data.
In June Russia added a further 300,000 ounces (9.33 tonnes) of gold to its reserves according to the regular monthly statement of its gold holdings by the Russian Central Bank. This brings its current total holdings to some 1,716 tonnes – still the world’s sixth largest national holding as reported to the IMF – and continuing to close the gap with the official Chinese figure of 1,842.6 tonnes. The June additions are much smaller than those reported for May (700,000 ounces or 21.8 tonnes), but more than the 6.2 tonnes it added in April. Russian gold reserve additions do fluctuate on a month by month basis, but recently it has been adding to its gold reserves at around 200 tonnes annually. For H1 2017 the total to date is 100.9 tonnes so the nation is right on track to add a similar 200 tonne amount to its official gold reserves in the current year.
This post was published at bloomberg
Bullish traders who insist that US economic fundamentals remain rock-solid despite tepid growth, inflation and other signs the postelection ‘Trump bump’ in consumer confidence is already beginning to fade should take a look at the International Monetary Fund’s latest batch of quarterly forecasts for global growth.
The fund left its all-world forecasts for 2017 and 2018 unchanged from its previous quarterly update, which was released in April: It anticipates 3.5% and 3.6% growth, respectively.
However, those numbers mask a sharp decline in the fund’s forecasts for US growth, which have been lowered sharply to reflect expectations that President Donald Trump’s promised fiscal expansion package likely won’t arrive until next year, according to a report published by the IMF. In an update that shouldn’t surprise anyone who’s been following US macro data since the start of the year, the fund revised its forecasts for 2017 and 2018 down 0.2% to 2.1% and 0.4% to 2.1%. It continues to expect the US economy to expand by 1.6% in 2016.
The fund said its decision to lower US growth forecasts reflects in part the weak growth experienced during the first quarter. But what it calls the ‘major factor’ behind the revision, especially for 2018, is the assumption that ‘fiscal policy will be less expansionary than previously assumed, given the uncertainty about the timing and nature of U. S. fiscal policy changes. Market expectations of fiscal stimulus have also receded.’
This post was published at Zero Hedge on Jul 24, 2017.
The following video was published by X22Report on Jul 24, 2017
Existing home sales slump, this is the weakest summer since 2011, this is not a good sign. Caterpillar sales increase because of the purchases from China and the Asian sector, this is fading already. Obama’s economy was one of the weakest economies we have seen since 1971. IMF forecast for US growth has been revised lower, it also revised global growth. Visa and other credit card issuers are pushing a cashless society to increase profits through transaction fees. Turkey and many other countries are purchasing a huge amount of gold. Janet Yellen confirms that the US dollar is collapsing.
It’s the elephant in the room; the guest no one wants to talk to – debt! Total global debt is estimated to be about $217 trillion and some believe it could be as high as $230 trillion. In 2008, when the global financial system almost collapsed global debt stood at roughly $142 trillion. The growth since then has been astounding. Instead of the world de-leveraging, the world has instead leveraged up. While global debt has been growing at about 5% annually, global nominal GDP has been averaging only about 3% annually (all measured in US$). World debt to GDP is estimated at about 325% (that is all debt – governments, corporations, individuals). In some countries such as the United Kingdom, it exceeds 600%. It has taken upwards of $4 in new debt to purchase $1 of GDP since the 2008 financial crisis. Many have studied and reported on the massive growth of debt including McKinsey & Company http://www.mickinsey.com, the International Monetary Fund (IMF) http://www.imf.org, and the World Bank http://www.worldbank.org.
So how did we get here? The 2008 financial crisis threatened to bring down the entire global financial structure. The authorities (central banks) responded in probably the only way they could. They effectively bailed out the system by lowering interest rates to zero (or lower), flooding the system with money, and bailing out the financial system (with taxpayers’ money).
It was during this period that saw the monetary base in the US and the Federal Reserve’s balance sheet explode from $800 billion to over $4 trillion in a matter of a few years. They flooded the system with money through a process known as quantitative easing (QE). All central banks especially the Fed, the BOJ and the ECB and the Treasuries of the respective countries did the same. It was the biggest bailout in history. As an example, the US national debt exploded from $10.4 trillion in 2008 to $19.9 trillion today. It wasn’t just the US though as the entire world went on a debt binge, thanks primarily to low interest rates that persist today.
This post was published at GoldSeek on Friday, 21 July 2017.
Ever since the beginning of the Crisis in 2008, Irish policymakers insisted staking the claims to the heroic burden sharing of the post-Crisis fiscal adjustments across the entire society, the claims closely mirrored by the supporting white papers, official state-linked think tanks and organizations, and even the IMF.
Time and again, independent analysts, myself included, probed the State numbers and found them to be of questionable nature. And time and again, Irish political and policy elites continued to insist on the credit due to them for steering the wreck of the Irish economy out of the storm’s path. Until, finally, by the end of 2016, Ireland officially was brought to enjoy falling official debt burdens and drastically declining deficits. The Hoy Grail of fiscal sustainability, delivered by FF/GP and subsequently (and especially) the FG/LP coalitions was in sight.
Well, here’s a new instalment of holes that the official narrative conceals. CSO’s latest data for full fiscal year 2016 on headline fiscal performance metrics was published earlier this month. It makes for an enlightening reading.
This post was published at True Economics on Friday, July 21, 2017.
The following video was published by X22Report on Jul 19, 2017
IMF reports that the current problems with Greece are not going away the debt is not sustainable. Harley Davidson is spiraling out of control, sales are crashing. IBM uses accounting trickery to make the company look like it is doing better than it really is. Many companies are now using this account trick to fudge the numbers. Housing starts, permits rebound, which means most of these starts and permits will be revised as people cancel the homes. Russia is pushing the for a digital economy including block-chain technology. The economy is rapidly breaking apart and we are now seeing signs of how bad it really is.
The following video was published by X22Report on Jul 13, 2017
Credit card companies begin to make offers to retailers to stop accepting cash and only use debit or credit. CBO says that Trump will not be able to balance the budget because the debt is unsustainable. 40% of the Fed’s balance sheet is interest for foreign banks. We have reached the 1999 stock market bubble, this is not going to end well. Bank of America is reporting that within 3-4 months the entire economy will begin to break apart. The IMF is reporting that Canada might be in trouble after raising interest rates, the housing market might start to implode.
Jay L. Zagorsky, The Ohio State University
President Donald Trump on July 10 nominated Randal Quarles to be one of the seven governors of the Federal Reserve System, the central bank of the United States.
Before I get to Quarles and his qualifications, it’s important to understand the Fed and what it does. Its decisions are vital to every person on the planet who borrows or lends money (pretty much everybody) since it has enormous influence over global interest rates. Its board of governors also influences most other aspects of the global financial system, from regulating banks to how money is wired around the world.
Quarles, for his part, is clearly qualified for a job at the pinnacle of financial regulation. He has held numerous positions in the US Treasury Department, including undersecretary for domestic finance under George W. Bush, and was the US executive director at the International Monetary Fund (IMF). He has also worked on Wall Street for The Carlyle Group and founded his own investment company, The Cynosure Group. He also has a law degree from Yale.
The issue that I believe deserves careful scrutiny, however, does not involve his qualifications. Rather it’s a view of his that, if allowed to permeate the Fed, would represent a seismic shock to how the central bank operates and could potentially have severe consequences if – or when – we stumble into another financial crisis like the one we endured only a decade ago.
This post was published at FinancialSense on 07/12/2017.
In numerous articles over the years I have outlined in acute detail the agenda for a future one-world economic and governmental system led primarily by banking elites and globalists; an agenda they sometimes refer to as the “New World Order.” The term has gained such public exposure and notoriety recently that the globalists have fallen back to using different terminology. Some of them, like the International Monetary Fund’s Christine Lagarde, refer to it as the “global economic reset.” Others call it the “new multilateralism.” Still others refer to it as the “end of the unipolar order,” referring to the slow death of the U. S. economy as the central pillar of the global economy.
Whatever label they decide to use, all of them signal a full spectrum destabilization of the “old world” financial and geopolitical system and the ascendance of a tightly controlled one world edifice dominated openly by globalist hubs like the IMF and the BIS.
Too many people, even in the liberty movement, tend to examine only the veneer of this agenda. Some have deluded themselves into thinking the U. S. and the dollar are actually the core of the NWO and are therefore indispensable to the globalists. As I have shown time and time again, the Federal Reserve is now on a fast track to complete its sabotage of the U. S. economy; they would not be instigating instability and crisis to deflate the massive fiscal bubbles they have created unless America was at least partially expendable.
This post was published at Alt-Market on Wednesday, 12 July 2017.
Former IMF chief economist Ken Rogoff warned today on CNBC that he was concerned about China. Specifically, he worried that country might ‘export a recession’ to the rest of Asia if not the rest of the world. I’m not sure if he has been paying attention or not, but the Chinese economy since 2012 has been doing just that to varying degrees often just shy of that level.
If there’s a country in the world which is really going to affect everyone else and which is vulnerable, it’s got to be China today.
The problem is, for Rogoff, a lot of debt which could at some point act as a further anchor as China attempts to restructure its economy from industry to the Chinese consumer and services. Such rebalancing is inherently risky, especially with so much debt supporting it.
Again, I’m not sure Mr. Rogoff has been watching China all that closely. The government may claim that the economy is rebalancing, but so far there is little evidence at all it is actually doing so. Retail sales growth is today a third of the pace that used to be normal when China’s factories serviced the rest of the developed world. Industry is still at the heart of its economy, and most debt has been underwritten not for the coming Chinese consumer economy but instead in anticipation of going back to the rapid growth of its industrial past.
This post was published at Wall Street Examiner on July 10, 2017.