FWIW: No-one'll-ever-accuse-me-o'being-humble: I've been t'lone voice 4 2+yrs on various BB's a/w/a my own website declaring that the OLD BWCA's crafted/sculpted and all but skewered AMU is just around the corner. The AMU is very much decreed in the 50+ year old Bretton-Woods' Currency Accord, and very much "on the docket."
While I enjoy "being right,"
I do hold the corollary belief that:
the timetable for the Asian Monetary Unity set up has been rushed
by the greed of those piling onto the short Gold positions of easy to make bear money in the last 9+ years Gold Markets.
All
but the greed
a/w/a the speed of electronic trading
was originally UNforeseen
when they crafted the leasing scheme
to facilitate the Gold Accumulation Program (GAP) set in motion in behalf of creating the EMU/now EU and the ECBank.
Greed certainly has a way of screwing up the best laid plans of 44 nations who huddled in the Bretton Woods Retreat all those many many moons ago to fix the world.
While le patron, Bill thinks it is an IMF bank type set up that is being created by Japan and China, et al, I believe history will show it is an ECB like set-up that is in the cards, not an IMF set up.
Remember folks,
Japan is already obligated to the BIS standards.
The IMF is NOT a bastard offshoot of the BIS!
IMF/WB is America's competitive response to the BIS.
The two banking models are sworn enemies.
Tis part and parcel of why Japan has been so cool about the Yen Carry trade, and the double dipping they've participated
i.e., collecting the contango in as the bonds they held in lieu of US currency rallied so damn sharply,
and now with all those cheap bonds they purchased being worth so much more than they ever dreamed, after we skinned'em good the last time they bot our bonds like it was going outta style in the mid 80's.
The BIS is pulling Japan's wagon around the money flow circuit.
Japan hasn't pissed and moaned to the IMF, nor the World Bank, asking for a hand out or a hand up. Why should they?
With the BIS in their corner, they've participated in a glorious plot to bring the US "thunk up and sponsored/primary financed IMF/WB" organization to it's wobbly knees.
It was only a matter of time. And the scheme has worked gloriously.
And folks wonder why Alan is nervous and cutting rates like it's going outta style? He's been had!
I live here in America, sure.
I benefit from her largess and her standard of living, sure.
Do I think I'm entitled to all over my global village neighbors?
NOT A CHANCE!
Why have I been so abundantly blessed?
BEATS ME!
Do I support our meddling arrogance?
NOPE!
So, rh,
new Bretton Woods?
Not a frigging chance...
esp since the old one still "woks,"
and you know what they say in the Army:
If it ain't broke...
don't "fix it."
Japan ain't broke...a looooooong way from it.
The Japanese culture is about as frugal on the human level
as the reputedly tightfisted Svisse!
Long live the EU
Come home you worthless pieces of paper.
About time we eat our own "fruits" of our competitive destructive policies.
God Help Us in this great land!!! |
