Debt, war, collapse, the fate of all degenerate empires, suckers--happening now, as we speak, before our very eyes, in Jew S A, morons

[Apollonian]

Debt, Currency Debasement, & War - The Timeless Pillars Of Failure​

BY TYLER DURDEN
TUESDAY, OCT 24, 2023 - 05:30 AM
Authored by Matthew Piepenburg via GoldSwitzerland.com,

Link: https://www.zerohedge.com/markets/debt-currency-debasement-war-timeless-pillars-failure/

Below, we follow the breadcrumbs of simple math and bond market signals toward an oft-repeated pattern of how once-great nations become, well…not so great any more.

Debt Destroys Nations​

Debt, once it passes the Rubicon from extreme to just plain madness, destroys nations.
Just ask the former Spanish, British or Dutch empires. Or ask the inter-war Germans. Ask the Yugoslavians of the 1990’s or ask a historian of Ancient Rome or a merchant in modern Argentina.
It’s all pretty much the same story, just different a different stage or curtain call.
Like Hemingway’s description of poverty, the process begins slowly at first, and then all at once.
Part of this process involves currency debasement needed to pay down more desperate issuance of IOUs, a process evidenced by rising rather than “transitory” inflation.
Thereafter, comes increased social unrest, and hence increased centralization from the political left or right in the name of “what’s best for us.”
Sound familiar?

Centralization—The Last, Failed Act​

Centralization never works in the long run, but that has never stopped opportunists from trying.
Just look at our central bankers.
In a centralized rather than free market, the very name “central bank” should be a dead give-away as to their real role and profile.
As private central banks have been slowly increasing their hidden power and control over national markets and hence national welfare, the very notion of free price discovery in bonds, and indirectly in stocks, is now all but an extinct financial creature in the neo-feudalism which long ago replaced genuine capitalism.

How the Central Game is Played—From Temporary Prosperity to Permanent Ruin​

When central banks like the Fed repress rates and print gobs and gobs of money, bonds are artificially supported, which means their prices go up and their yields are compressed.
When yields are low, rates are low, which means the cost of credit is cheap, allowing otherwise profitless names in the stock markets to borrow money and time for years of temporary prosperity—like a 600% rise in a post-08 S&P…
In short: central bank repressed rates are a profound tailwind for otherwise mediocre risk assets.
But when central banks like the Fed raise rates (ostensibly to “fight inflation”), the opposite effect happens—and things break. I mean really break.
I’ve written and spoken ad nauseum about what has broken, is breaking and will continue to break; furthermore, I’ve written and spoken at length about the quantifiable irony that Powell’s so-called war on inflation will only end in more inflation.
Yep, the ironies just abound in this world of so-called experts, which is little more than an island of misfit toys.

Postponing Pain Only Heightens It​

In normal, free-market cycles devoid of central bank “support,” bonds and hence rates rise and fall naturally based on natural demand and natural supply.
Imagine that?
This leads to frequent but healthy moments of what von Mises and Schumpeter described as “constructive destruction”—i.e., a cleaning out of debt-soaked and crappy enterprises in naturally occurring recessions and naturally occurring market drawdowns.
But central banks somehow thought they could outlaw recessions by printing money out of thin air to support bonds and repress yields. You know—solve a debt crisis with more debt. Brilliant…
This was hubris at the highest level, and the stupid just became a habit and even received a fancy name to justify it—Modern Monetary Theory.

Natural Market Forces Are Stronger than Central (Bank) Forces​

But the longer central banks postponed pain to win Noble Prizes and ego-lifting acclaim from the un-informed, the greater the natural pain (ticking time bomb) these central planners created as they now slowly realize that the bond market, like an ocean, is more powerful than a band of unelected market stewards.
In fact, a bunch of FOMC officials (Kashkari, Bostic, Waller et al.) are now running around like headless chickens and declaring that higher bond yields may now be more powerful than the Fed Funds Rate.
In other words, after months of hawkish chest-puffing, they are saying that perhaps enough is enough with the “higher for longer” meme…
Central bankers, it seems, are beginning to realize what informed credit market jocks have always known, viz: The bond market is stronger than any central bank.

Price Matters​

That is, eventually central bankers lose control of artificial bond pricing.
Which means that eventually the great weight of sinking bonds and hence rising yields and rates becomes more powerful than central bank money printers to keep those bonds artificially “supported.”
I’ve been saying this for years despite “journalists” at the WSJ and Financial Times calling math-based realists like me “kooks.”
But recently even the fine folks at the WSJ or Financial Times (FT) are beginning to worry out loud as UST supplies far outstrip natural demand, causing bond prices to fall and yields and rates to rise fatally higher than central bankers once thought safely under their control.
We’ve warned of this for years—and this grotesque supply and demand mis-match has only risen exponentially in recent months.

America: Running Out of Takers/Suckers for Its Ever-Increasing IOUs?​

The trillions in spending forecasted for year-end and into 2024 just don’t have any real money behind it, which means more IOUs will be spitting out of DC with less and less love/demand for the same.
This, of course, has been a real problem hiding in plain site for a long, long time.
As supply outpaces demand for sovereign bonds, their prices sink, their yields rise and hence interest rates—the cost of debt—becomes fatal rather than just painful.
The journalists at the FT, most of whom never sat at a trading desk, however, still have a very hard time imaging the unspeakable—i.e., a total implosion of sovereign bonds, and hence a total implosion of the financial system.

Thinking About the Unthinkable​

They still see the UST as too big to fail—or to use their own words, any failure of this sacred US Sovereign bond is “unthinkable.”
Well…think again.
But at least the main-stream-financial pundits are crying that any real threat to Uncle Sam’s IOUs “would force the state to act.”
For once, I actually agree with these “journalists.”
But let’s clarify what “forcing the state to act” really means—i.e., in simple speak.

When There’s No Good Acts Left to Take​

In short, this means the “state” would have to “act” by saving the bond market in particular and the global financial system in general via trillions and trillions of printed dollars to purchase otherwise unloved IOUs from Uncle Sam.
In other words, the only way to save bonds is to kill currencies.
This, by the way, is a now familiar trajectory to any one paying attention (think of the September 2019 repo crisis, the March 2020 Covid crash or the 2022 Gilt crisis in the UK) the implications of which we’ve been warning well ahead of the pundits.
Such “state action,” of course, slowly kills the USD—but as I’ve also warned for years, the last bubble to pop in every centralized, debt-soaked financial failure throughout history is always the currency.
The once exceptional USD, sadly, is no exception. It just takes longer, a lot longer, to bring down a world reserve currency.
This, by the way, is not “gold bug sensationalism” but simple history supported by simple math—two disciplines our leaders, financial journalists and even bankers either don’t grasp or do their best to ignore, cancel or dismiss.
Again, with the ironies.

Even the Media Can’t Deny the Obvious​

But at least the main stream pundits are catching on. This is only because the problem of unprecedented deficits alongside rising bond yields and hence debt costs are now too obvious to ignore.
The WSJ recently wrote that “deficits finally matter.”
Hmmm. They have mattered for a long time—just saying…

Telegraphing a Weaker USD?​

In the end, and as warned over and over and over (and as confirmed, it seems, even by the squawking Fed officials above), the facts and Fed-speak all point toward a talking down of the USD in favor of Uncle Sam’s broken IOU.
That is, the media is already planting the seeds for the USD’s painful endgame.
This comes as ZERO surprise, despite the Greenback’s relative status as the best horse in the global glue factory.
And, at least for now, that USD is breaking well off its prior uptrend…

This weaker USD will provide needed liquidity relief for an over-stretched UST market.
But the USD (and DXY) will have to come down much further, in my opinion, to buy sovereign bond markets needed time.

Pick Your Poison: Busted Financial System or Neutered USD?​

Eventually a choice will have to be made between saving the system (of which sovereign bonds are the foundation) or sacrificing the currency.
In other words, get ready for more dollar-destroying “state action” from that non-state/private enterprise otherwise known as the Fed—all in the form of direct magical mouse-click money.

The Postponed Pivot Already Began​

For over a year, this inevitable Fed pivot toward QE was delayed by back-door QE-like measures from Yellen’s Treasury Department (i.e., refilling the Treasury General Account with T-Bills) or the dual (and multi-trillion) accounting tricks of BTFP bank-bailout (by which Uncle Sam guaranteed par value return to the banks but market value losses to the suckers on Main Street…)

Or War Might Be in Order? Ask Hemingway​

In fact, the only thing that could publicly justify (and partially absorb) another massive dose of 2020-like money printing (and hence currency debasement) would be a big, fat, ugly war with war-like “emergency measures” whereby our leaders can blame decades of debt-addiction on battle smoke (or COVID, Putin, and men from Mars) rather than their own bathroom mirrors.
Again, Hemingway was likely onto this trend long before the WSJ or FT:

Around and Round We Go​

But with conflicts now red hot in both the Ukraine and Israel, Biden and his broken bond market are hitting an inflection point where the USA just can’t really afford more war support to its allies without thinning the USD and over-stretching its UST.
And so, folks… around and round we go in the ultimate vicious circle within which all debt-soaked nations throughout history ultimately find themselves.
That is: 1) poorly managed nations get too drunk on debt, and then 2) debase their currency to pay their debt; thereafter, 3) inflation comes, followed by 4) rising rates to fight that inflation, which in turn means 5) higher debt service costs, which means 6) more inflationary currency creation is rolled out to pay those higher rates.
Stated more simply, the USA has hit the Fiscal Dominance arc of the debt-cycle vicious circle wherein fighting inflation just creates more inflation.

The World Is Catching On…​

We, of course, are not the only ones who see this.
In fact, pretty much the entire world is catching on, with the BRICS+ nations making the first steady moves (de-dollarization) as eastern and other central banks continue to stack physical gold at record-levels in preparation for the slow but steady decline (not death, nod to Brent Johnson) of the World Reserve Currency.
As I recently wrote, just like kings bring horses and canons to their borders to defend against an approaching invader, central banks are stacking physical gold to defend against a debased USD.
It’s just that obvious.
This may explain why gold continues to rise in London and NYC despite so-called “positive real rates” and a still relatively strong USD.
That is, the world, including the Shanghai gold exchange, is seeing the golden lighthouse through the smoke of burning currencies.
Are you?
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[Apollonian]

What Biden’s ‘new world order’ really means​

Any new “unity” proposed by such an old-world-order creature as the current US president will have one purpose only: serve Washington
Rachel Marsden is a columnist, political strategist, and host of independently produced talk-shows in French and English.

Link: https://www.rt.com/news/585699-biden-new-world-order/

rachelmarsden.com

© ANDREW CABALLERO-REYNOLDS / AFP

We all have that one friend who can’t stop arranging things – whether it’s matchmaking, dinner parties, or vacation itineraries programmed down to the minute. They just can’t kick back and take things in stride. The world has to revolve around them, on their time and terms.
The US has been that guy for the world for the past several decades. Everyone’s tired of it. But now it has a new invitation – to a new world order.
“I think we have an opportunity to do things, if we’re bold enough and have enough confidence in ourselves, to unite the world in ways that it never has been,” US President Joe Biden said at a fundraiser this month. Washington’s boldness and confidence has led to unilateral regime-change bombings, the arming of jihadist proxies in Afghanistan against the Soviets and in Syria against President Bashar Assad, and Azov neo-Nazis in Ukraine. None of that has made the world a better place – just more chaotic. It’s not like any of these places end up better off as a result.
“We were in a post-war period for 50 years where it worked out pretty damn well, but that sort of run out of steam. It needs a new world order in a sense,” Biden said. “Worked out pretty damn well” for whom? Surely not for Latin America, subjected to constant intervention by Washington in its own interests. Same with the Middle East for all those decades when it served primarily as America’s gas station. Or even for the European Union, much of which has gone from being a collection of independent-minded allies to mostly a monolithic vassal for US interests at the expense of its own. The same could even be said of my native Canada, whose economic interests were hindered by Biden himself when he unilaterally cancelled a critical $9 billion pipeline project (Keystone XL) upon election. That should have been the very last time that Canada banked its economic interests on American good faith. It won’t be, though.

Read more [ck site link, above, top]

US will build ‘new world order’ – Biden
The EU had its own critical pipeline of Russian gas (Nord Stream) blown up just a few months after Biden said, right in front of German Chancellor Olaf Scholz, that he’d find a way to “end” it if the Ukraine conflict popped off. Then, after Biden’s promises to help his European partners wean themselves off Russian cooperation in exchange for backing Washington’s strategy in Ukraine, reality is setting in for EU leaders that their own blind trust is going to cost them. Not only do they now suffer from an overdependence on American fuel that’s helping to drive inflation, but they’re also stuck with Biden’s Inflation Reduction Act that even further disadvantages European industrial exports, already suffering from high energy costs, to the benefit of US manufacturers. And not even a pleading visit by French President Emmanuel Macron to the White House and Congress has managed to move the dial.
As for the UK, which likes to brag about a “special relationship” with Washington, where’s that post-Brexit US trade deal that was supposed to help offset the impact of splitting from the EU?
Yet, Biden wonders why there seems to be a loss of interest in playing ball with the US on its own terms under the old world order that it dominated. Indeed, what a huge mystery! If this is how Washington has been treating its closest allies, then is it any wonder that the rest of the world isn’t exactly enthusiastic about anything else that the US might want to arrange for everyone?
“I think we have a real opportunity to unite the world in a way it hasn’t been in a long time. And enhance the prospect of peace,” Biden said. Get real, man. Any new world order proposed by establishment fixture Biden would exist for one purpose, as it always has: to serve US economic interests. As would any unity.

Read more
‘New world order’ vs ‘empire of lies’: Key takeaways from Lavrov’s UN speech
Biden explained, as an example, that he was able to get both Japan and South Korea to unite despite “not talking” to one another. “I went to see them both,” Biden said. “They agreed. And guess what they’re doing?” Don’t keep us in suspense, man! Are they signing a flurry of bilateral trade deals despite their historical grievances? Having pajama parties? Nope. They both signed on this past summer to help do Washington’s bidding against China and get aboard with US-led military drills in Beijing’s backyard. “They’re both supporting the fight in Ukraine against Russian oppression” as well, Biden said. “Because they understand if they remain silent, they may be next.” By “remaining silent,” he apparently means ignoring Washington at their own peril. By “being next,” he presumably means an attack by China and not Russia – although you never know. It seems that the talking point these days being used to drum up military-industrial business for Washington is that Russia is going to invade anyone and everyone.
If it’s a choice between just sitting out all the drama and joining up with Washington’s attempts to antagonize China in its own backyard, apparently these Asian countries have decided that turning down US demands just isn’t worth it. Kind of like the obnoxious pal who you know will make your life miserable if you forego his offer to hang out in favor of a quiet night at home – so you just pick the least bad option, sucking it up and indulging him.
This new world order that Biden is peddling sounds like the kind of party whose host would constantly be clanging on his wine glass to make speeches about himself and “muh democracy” while everyone just wants to mingle, and then demand that everyone participate in annoying party games that no one else finds enjoyable or beneficial. But it looks like Biden is already concerned that this time around, a lot of invitations could remain without response – even if at the risk of having one’s house firebombed as a result of the rejection.

 

[Apollonian]

Annual Interest On The US National Debt Exceeds 1 Trillion Dollars​

November 8, 2023 6:09 am by CWR

Link: https://citizenwatchreport.com/annual-interest-on-the-us-national-debt-exceeds-1-trillion-dollars/

This amounts to a doubling of interest costs over the past 19 months, according to Bloomberg. It is the equivalent of 15.9 percent of the Federal budget for fiscal year 2022.

www.breitbart.com/economy/2023/11/07/bloomberg-u-s-debt-interest-bill-soars-past-1-trillion-a-year/
This is based on the current book debt of $33+ trillion. It doesn’t reflect the $211+ trillion in unfunded liabilities.
See also 30% of all mortgages have an interest rate under 3%
(lower right)

www.usdebtclock.org/#
Make no mistake, this is the final stage of the FED going bankrupt.

Just about 2 months ago, the unfunded liabilities was $180+ trillion. Now it’s over $211+ trillion.
See also JPMorgan Chase Has Lost a Quarter Trillion Dollars in Deposits in Last 7 Quarters — Fortress Balance Sheet or Leaky Sieve?
That’s a $30+ trillion increase in a couple months.
Prepare, the fed collapse is near. 6-12 months.

broward.ghost.io/2023/08/10/1-6-trillion/
How i estimated it.
There’s also $1 trillion in new borrowing, separate
from interest payments so we should see a $3 trillion
deficit in 2025.

 

[Apollonian]

Pictorial: Global Reserve Currency Empires​

BY VBL
SATURDAY, NOV 18, 2023 - 16:20

Link: https://www.zerohedge.com/news/2023-11-18/pictorial-global-reserve-currency-empires/

[vid at site link, above]

Pictorial: Global Reserve Currency Empires​

A Comment on Wealth Management​

Authored by GoldFix ZH Edit:
Below is each Global Reserve currency and summary circumstances surrounding the downfall of their status as such.
Since 1450 there have been six major world reserve currency periods.

1. Portugal (1450–1530)
2. Spain (1530–1640)
3. Netherlands (1640–1720)
4. France (1720–1815)
5. Great Britain (1815–1920),
6. United States (1921-???)

Portugal (1450–1530)​

Courtesy PersonalFinanceClub.com


Portugal at its Height

• Demise: Thrived as first explorers, pre-competition; suffered when the Dutch, English, and French got in the colonial and trading game. No clear War event

Spain (1530–1640)​

Spain at its Height

• Demise: Franco-Spanish War starts in 1635, marks beginning of Spain's decline in Western Europe. By 1650-1660 Spain's global empire burdened its economic, resources too much and it shrunk.

Netherlands (1640–1720)​

Netherlands at their height

• Demise: Goes bankrupt Fighting Britain in Asia while Dutch East Indian Company collapses. France expands, takes advantage

France (1720–1815)​

French Empire at its Height

• Demise: Napoleanic Wars Between France and GB/Allies ends after 18 years in 1815 with Treaty of Paris basically bankrupting France
  

  ​

Great Britain (1815–1920)​

​

Great Britain at its Height

• World War 1 ends. GB "wins"
  

United States (1921-2025?)​

• The return to multipolarity gains acceptance along with Gold and Silver as monetary metals.
• All powers involved want some degree of change without global war it seems based on actions and reactions.
• Similarities between the US and Spanish situation are notable but not 100% the same.
  • Spain ran large, persistent trade deficits
  • Spain didn’t accommodate foreign imbalances so much as create them, to the benefit especially of England and the Netherlands.
• “However it happens, a world in which trade isn’t structured around the dollar will require a massive transformation of the structure of global trade — and for surplus countries like Brazil, Germany, Saudi Arabia, and China, this is likely to be a very disruptive transformation.”

In studying the above info two things jump out when attempting to determine the circumstances under which reserve currencies change. Economic Strife and War

Economic Strife and War​

The first is Economic Strife. This seems pretty obvious since we are talking about money. If your economy is struggling, your currency’s reliability and its existence are put in doubt somewhat.
Continues here ...

---

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[Apollonian]

Europe Could Accept BRICS Currency In 2024​

Michael Grullon
December 30, 2023

Link: https://watcher.guru/news/europe-could-accept-brics-currency-in-2024/

Source: iStock


Amid the overarching de-dollarization plans, the BRICS alliance has recently stated its currency is an answer for a world “tired” of the US dollar. A handful of countries in Africa, Asia, Latin America, and Europe are looking to end reliance on the dollar and promote BRICS or their native currencies. With the recent expansion of BRICS and more members expected to join in 2024, could we see Europe accept BRICS and its currency in 2024?
Also Read: BRICS Currency is Answer for a World ‘Tired of The US Dollar’

Will Europe Accept BRICS Currency in 2024?​

The US and the EU are leading opposers of BRICS and the bloc’s mission. However, many countries in the rest of the world are in support of BRICS and support the idea of BRICS currency overshadowing the US Dollar.
This past Summer, South African BRICS ambassador Anil Sooklal confirmed that European countries have expressed interest to join BRICS. Sooklal did not reveal the names of the European nations but hinted that a global financial change was brewing.

Source: cvce.eu

Since this statement, BRICS has expanded its bloc, inviting new members to join including Egypt, the UAE, and Saudi Arabia. No European nations have been invited to join or accept any invitations to join BRICS. However, expansion is bound to continue in 2024, therefore, the first European nation outside of Russia may look to join.
Opposingly, Russia and China’s involvement in BRICS may be the biggest motivator for European nations to not join. With Russia’s ongoing war in Ukraine, as well as China’s continuous battle with the West, Europe may look to stay on the side of the west and oppose BRICS and its currency, despite the alternative being the US greenback reigning supreme.
Also Read: Is Publix Open on New Year’s Day?
Throughout the year, discussions of a BRICS currency have been prominent. They have been combined with the overall de-dollarization efforts of the alliance. However, from its perspective, the work that the bloc is committed to is not driven out of its self-interest. Conversely, the alliance believes it is answering a call from a world “tired” of the US dollar.

 

[Apollonian]

And So It Begins: Saudi Arabia Officially Joins BRICS…​

January 2, 2024 9:42 pm by CWR

Link: https://citizenwatchreport.com/and-so-it-begins-saudi-arabia-officially-joins-brics/

[vid at site link, above]

BRICS has Officially been joined by Ethiopia, Egypt,Iran, Saudi Arabia and UAE as of 01 January 2024
The EIA's data shows the addition will increase BRICS crude oil production to about 41% of the global output.
Does this pose a threat to current western hegemonies ? pic.twitter.com/tCZ2tI4IgR
— Sadiki (@SadikiMulisa) January 2, 2024

See also Is Saudi Arabia Constructing Future Babylon?

See also Saudi Prince and Putin Ally Dies in Plane Crash

 

[Apollonian]

Russian central bank governor claims BRICS group has now surpassed G7 in aggregate GDP

02/02/2024 // Ramon Tomey // 2K Views

Link: https://www.naturalnews.com/2024-02-02-russia-claims-brics-group-has-surpassed-g7.html/

Elvira Nabiullina, the governor of the Central Bank of Russia (CBR), has claimed that the BRICS group has now surpassed the Group of Seven (G7).

She issued this pronouncement on Jan. 30, telling the state-owned RIA Novosti news agency that the BRICS member states have exceeded their G7 counterparts in the share of global gross domestic product (GDP) in terms of purchasing power parity (PPP). A metric popular with many economists, PPP compares economic productivity and standards of living between countries for the differences in the cost of goods and services.

The CBR chief noted that with the addition of new members in the BRICS group, its share in global output rose from 31 percent to 35 percent as of the end of 2023. "BRICS economies are developing quite quickly," she remarked, highlighting that the group is playing a crucial role in the world."

In contrast, data from the International Monetary Fund (IMF) showed that the G7's share in global GDP in terms of PPP has been on a steady drop over the past several years. From 50.42 percent in 1982, this fell to 30.39 percent in 2022 – and the IMF projects this figure to go lower at 29.44 percent this year.

Formerly made up of only the eponymous five nations – Brazil, Russia, India, China and South Africa – 2023 witnessed a historical enlargement of the group. It admitted Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates, while leaving the door open to accepting new members. Eight other countries – Venezuela, Thailand, Senegal, Cuba, Kazakhstan, Belarus, Bahrain and Pakistan – submitted formal applications to join, while numerous others voiced interest in joining. (Related: END OF THE DOLLAR: South Africa says over 40 countries want to join BRICS.)

"With five more new nations, BRICS is poised to account for more than 40 percent of global crude oil production, while its population will amount to nearly 3.6 billion," Angeline Tan wrote for The New American magazine.

BRICS to decouple from Western-controlled payment system​

Nabiullina also announced that Moscow is discussing using national systems for transmitting financial messages with fellow BRICS member countries. According to her, 159 foreign participants from 20 countries have already joined the Russian system.

"Russia has a System for Transmitting Financial Messages (SPFS), which is an alternative to SWIFT (Society for Worldwide Interbank Financial Telecommunication). Similar infrastructure exists in some other countries," the CBR head remarked. "We are holding discussions on the interaction of such platforms, but here the interest and technical readiness of our partners are important."

According to Tan, the CBR set up the SPFS to mitigate the risks of Russian banks potentially being disconnected from the SWIFT international interbank system. The SWIFT system links more than 11,000 organizations in almost every country in the world for transmitting information and making payments.

Aside from this, Nabiullina said Russia will suggest key initiatives to boost cooperation among BRICS member countries when it assumes the rotating chairmanship of the bloc for 2024 – which it did on Jan. 1.

"First of all, we would like to promote the topic of mutual recognition of ratings. This is very important for mutual trade and investment," she explained. "In our view, mutual recognition of ratings will be faster and more practical."

According to Nabiullina, the notion of creating supranational rating agencies has been broached both within BRICS and within the Eurasian Economic Union. While she acknowledged that the idea was promising, she mentioned that it involved "a lot of complex issues." Such issues include who should be the founder, how to facilitate financing and how to guarantee the independence and professionalism of the agency.

Aside from this, Russia plans to put forward a way to combat the laundering of illicit funds Moscow has experience in creating such a platform dubbed "Know Your Customer," which the country is willing to share as per Nabiullina.

"We want to see what common platform solutions in this area can be developed at the level of BRICS. This would greatly simplify the cooperation of business between our countries."

Visit CurrencyClash.com for more stories about the BRICS group.

Watch this video that discusses whether the 10 BRICS members – the original core group and the five new nations that joined in 2023 – are the 10 horns of the beast in the book of Revelation.


This video is from the Brachaim's channel on Brighteon.com.

More related stories:​

End of petrodollar edges closer as Saudi Arabia looks set to join new China-dominated 'BRICS' economic alliance.

BRICS to lay foundation for EXPANSION: 13 Nations formally asked to join group, 6 others expressed interest.

Mexico planning to join BRICS amid tensions with the US.

Sources include:

TheNewAmerican.com

Brighteon.com

 

[Apollonian]

Why Banks Want the System to Crash, Dollar to Plummet and For You to be Desperate : Jekyll Author​

February 22, 2024 9:31 pm by CWR

Link: https://citizenwatchreport.com/why-...et-and-for-you-to-be-desperate-jekyll-author/

[see vid at site link, above]

Are banks deliberately engineering financial crises? Is the Federal Reserve part of a scheme to erode your wealth? Dive into these questions with G. Edward Griffin, the author of “The Creature from Jekyll Island,” in a must-watch interview with Daniela Cambone. Griffin reveals the shocking truth about how crises benefit the elite, the hidden agenda behind the erosion of the dollar, and the unsettling reset reshaping our world. He even challenges the medical industry’s approach to cancer treatment, suggesting a profit-driven model over genuine cures. This video is for anyone who suspects that not all is as it seems in our financial and health institutions.

See also Politically motivated verdict harms New York City's reputation.

 

[Apollonian]

El Salvador president warns West’s “backed-by-nothing-dollar” will drag down the rest of the world​

MARCH 02, 2024

Link: https://www.yourdestinationnow.com/2024/03/el-salvador-president-warns-wests.html/

For newly re-elected El Salvador President Nayib Bukele, the United States economy will collapse due to the U.S. dollar being backed by nothing. And the fall could bring the rest of the world down with it, he warned.

Fresh from winning a second term in office with at least 85 percent of the vote, Bukele spoke at the Conservative Political Action Conference (CPAC) in Maryland on Feb, 22, where he added in his speech that the American economy is based on the "farce" of printing unlimited amounts of money. It would not be far for the Western civilization to collapse when that bubble "inevitably bursts," he said. He closed the speech calling for massive structural changes to the U.S. economy.

"Conservatives always tell me that the problem is high taxes, but they are wrong," he claimed. "The real problem is that you pay high taxes only to uphold the illusion that you are funding the government, which you are not," he said and described how the government is financed by Treasury bonds, which are purchased by the Federal Reserve with printed money backed by the bonds themselves. Since the Biden government is funded by money printing, he said that America's situation is worse than it seems because if most citizens and the rest of the world were to become aware of this farce the confidence in USD would be lost. "The dollar will fall, and Western civilization with it," he pointed out.

As the 2024 presidential elections approach, Bukele urged people to install a president who would make better decisions, otherwise, prepare to fall. "If the next president of the United States does not make the necessary policies and structural changes, sooner or later that bubble will burst," he concluded. "It will take a total re-engineering of the government from top to bottom."

Bukele is best known for reducing El Salvador's homicide rate from 38 per 100,000 when he was elected in 2019 to 2.4 at the end of last year. The 42-year-old former publicist has used emergency powers to lock up tens of thousands of alleged gangsters over the last two years, a measure popular with voters who say the streets are safer in what was not long ago one of Latin America's most dangerous nations. His move was harshly condemned by liberal NGOs and human rights organizations, alleging it lacked due process and that many innocent people have been caught up in the round-ups. They have also questioned the government's crime figures.

"The people of El Salvador have woken up, and so can you," he told the crowd at CPAC. Pointing to rising crime and drug use on the streets of American cities, he called on conservatives to "put up a fight because, in the end, it will be worth it. You will have your country back."

Bukele snubs the U.S. government and IMF​

Bukele was invited to the event by conservatives because they lauded his adoption of Bitcoin as legal tender and of course, his iron-fisted policies on gang crime in his country.

By making Bitcoin legal tender in 2021, he allegedly snubbed warnings from the U.S. government and the International Monetary Fund about the risks of cryptocurrency. In fact, he used public funds to purchase more than $100 million in Bitcoin.

The IMF urged El Salvador to drop the decentralized cryptocurrency as it is reportedly risky to financial stability and consumer protection. But he promised in December to issue long-awaited Bitcoin-backed bonds during the first quarter of this year, and his running mate Felix Ulloa said the government will remain committed to the cryptocurrency after the election.

He calmed investors' worries by paying the country’s foreign debt on time. He reaffirmed his commitment to pay during a January meeting with bondholders. The government also vowed to work with the IMF if reelected. "These elections will provide Bukele with an unprecedented popular mandate, which could be used to sign an IMF agreement following renewed talks," Eurasia Group analyst Risa Grais-Targow wrote in a note. "Negotiations between the government and the fund have made substantial progress over the past several months."

 

[Apollonian]

US interest costs surpass social spending, reaching $659B in 2023.​

April 1, 2024 11:23 am by CWR

Link: https://citizenwatchreport.com/us-interest-costs-surpass-social-spending-reaching-659b-in-2023/

In the labyrinth of U.S. fiscal affairs, a concerning trend has emerged: the ballooning interest expenses on the national debt, surpassing critical social expenditures and casting shadows of uncertainty over the nation’s financial future.
In 2023, net interest costs on U.S. debt skyrocketed to a staggering $659 billion, exceeding the budgets allocated for vital programs such as Medicaid and Spending on Children, both hovering around $600 billion. Astonishingly, this amount more than triples the expenditure on Veterans, a segment that received approximately $180 billion in funding. Even when Veterans’ Programs and Income Security Programs are combined, their total cost remains dwarfed by the colossal interest expenses incurred by the nation.
Fast forward to the onset of 2024, and the U.S. has already squandered a jaw-dropping $350 billion in net interest expenses within a mere three months. What’s even more alarming is the apparent absence of a coherent long-term plan or meaningful discussions within Congress to address this burgeoning crisis.

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The trajectory of annualized interest expenses over recent years is particularly unsettling, signaling a dark and foreboding future. With no discernible path towards a balanced budget, the Treasury continues to issue debt at elevated interest rates, exacerbating the already dire situation.

Delving deeper into the mechanics behind this fiscal quagmire, February 2024 witnessed a staggering issuance of over $2.5 trillion in U.S. Treasury securities. In 2023 alone, the Treasury churned out a whopping $22.7 trillion, surpassing the figures from the preceding years, including 2020.

This leads us to ponder: What impact do these Treasury issuances have on the yield curve, a crucial barometer of economic health and monetary policy effectiveness?

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Sources:

fred.stlouisfed.org/series/A091RC1Q027SBEA