Manipulation Mondays with Andrew Hoffman:
– ISM dropped from 55 to 53 but corrected to 56 after seasonal adjustment
– Construction spending was awful
– Chicago PMI awful
– Birth Death fix for this May is same as last May
– Japanese and Chinese data awful and off the charts
This interview was hosted by Financial Survival Network.
hello Mr hoffman
Is it possible that the IMF’S own currency will have a huge part in a global currency crisis ?let me explain what has been going on at the IMF the SDR is slated to be the first ever reserve currency without a country attached to it , I believe we are entering a new phase of this kicking the can down the road ,for the last 5 years cheap credit was the norm now if we allow deflation to delibratley set in so as to cause the currencies to rise in value so as to have more purchasing power ,now ask yourself who is flush with cash ? that would be the banks and corporations who loaded up on cheap cash as reserves in the last 5 years so now they can use this to buy up everything that deflates with cash that all of a sudden has more purchase power and since cash is harder to come by in a deflation this will benefit banks/corporations. the US would survive and so would the debts which the IMF will buy up and repackage as SDR bonds after the US dollar looses its reserve status .ask yourself who in the world has the cleanest balance sheets ?That would be the IMF NOT YUAN/RUBLE/US DOLLAR the chinese and russians have no problem Pegging to the SDR It is the US that has the problem but another issue is in hyperinflation debts are wiped out I dont think that they would be that generous to wipe out our debts but rather mean buy pegging to the SDR to continue on with debt I also found out that Canada has around 10 billion SDR’S on reserve which I believe they traded for Canadas gold a while back
DV,
The “SDR” will NEVER happen, as it is nothing more than a basket of the same fiat trash that is the problem in the first place. When the system starts falling, no one will want any fiat currencies.
a
thank u for the reply .I’m curious why you think the SDR won’t happen ?Jim rickards is a big fan of the SDR and many also say that the G20 meetings has all been about the currency transition that will take place after the 2010 IMF reforms are ratified also the way it seems now with debt it seems unplausible that the debts of the nations will just go away the people will forever be saddled with this debt hence fiat enslavement .nobody wants fiat now what proof do you have that this debt can’t continue through the SDR .since no one really has any cash left since we are so in debt deflation makes more sense to me to empower the cash holders which you know is the banks and the corps since easy credit has been the norm through ZIRP if you want to see how it will be structured here is the link that will explain it much better than I can http://philosophyofmetrics.com/2014/05/28/a-global-currency-reset/also you can check for yourself how much canadian government holds in SDR’s for what purpose also look at what they value gold in SDR’s quite shocking it seems ponitless for the Canadian government to be divesting in gold only to reinvest in SDR’s if they don’t have a plan for those SDR’s just saying
sorry i forgot that link to the canadian Government sdr holdings from their own government website
http://www.tpsgc-pwgsc.gc.ca/recgen/cpc-pac/2013/vol1/s8/rlidcfc-irhefa-eng.html#t8.2
Good research Andy so what exactly happens when bullion Banks are out of metals? DV8 interesting about the SDR I did find an interesting article on Zerohedge
http://www.zerohedge.com/article/why-did-us-sdr-holdings-increase-five-fold-last-week-august about the US SDR allocations increasing 5 fold in about a week, we shall see what happens in due time
When they run out of metals to deliver (to the East), it’s game over for the suppression – and the global fiat currency Ponzi Scheme. As for SDR’s, complete hogwash in my view. They are but a basket of the same fiat trash, no better than the individual components. And BTW, who would be authorized to mint it?