ND
JAN 25 SIT EC y POL
ND denounce Global-neoliberal debacle y propone State-Social
+ Capit-compet in Eco
ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they
documented with graphics
...we are fast approaching a demographic
and economic waterfallamong the consuming nations that will leave little
to no export led growth potential for poor nations...
See Chart:
USA (#1 GDP, 25%)
See also 2 Latino
countries:
Peru (#30 GDP, 0.3%)
Chile
(#27 GDP, 0.3%)
See many
other countries at:
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Rejected...
The confirmation remains outstanding, but technically
vastly overbought markets are at high risk of a sizable reversion trade.
And then it happened. Rejection.
And with
rejection come technical consequences. Perhaps the start of the first
correction of 2020, the first correction since the Fed went wild on the
intervention front in October.
It is with some
irony one can observe that the downside began the same week FOMO articles
dominated the news front last weekend, led by Barron’s
$DJIA 30,000 hype cover:
See Chart:
The kiss of death: comes in
Twit:
Oops,
they’ve done it again?
The $DJIA never made a new high and literally peaked the
Friday before the weekend when Barron’s published its
article:
See Chart:
Barron’s DOW 30000
See more Charts at:
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...central banks will require
sustained geopolitical conflict to shape the future design of the financial
system. They are already headlong in devising that very system through
thereformation of global payment
systems.
Davos: the Bank for
International Settlements BIS announced that
multiple central banks have created a group that will ‘assess potential
cases for central bank digital currencies‘.
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential cases for central bank digital currency (CBDC) in their home jurisdictions.
The group will assess CBDC use cases;
economic, functional and technical design choices, including cross-border
interoperability; and the sharing of knowledge on emerging technologies. It
will closely coordinate with the relevant institutions and forums – in
particular, the Financial Stability Board and the Committee on Payments and
Market Infrastructures (CPMI).
The group will be co-chaired by Benoît Cœuré,
Head of the BIS Innovation Hub, and Jon Cunliffe, Deputy Governor of the Bank
of England and Chair of the CPMI. It will include senior representatives of the
participating institutions.
To CBDC’s, the BIS stand at the heart of the issue. The new
central bank grouping comes just over six months after the BIS first established an
Innovation Hub for central banks (also known
as Innovation BIS 2025) with the objective being to ‘foster
international collaboration on innovative financial technology within the
central banking community‘.
During a speech at the Central Bank of Ireland in March
2019, BIS General Manager Agustin Carstens stated plainly what a CBDC
future would look like:
Like cash, a CBDC could and would be available
24/7, 365 days a year. At first glance, not much changes for someone, say,
stopping off at the supermarket on the way home from work. He or she would no
longer have the option of paying cash. All purchases would be electronic.
To avoid confusion, there are two variants of CBDC that are
regularly discussed by central bank officials. The first is a wholesale CBDC,
which would be used to facilitate payments exclusively between financial sector
firms. The second option, a retail CBDC, would be for use by the general
public.
To quote Carstens from the same speech he made in Ireland:
A CBDC would allow ordinary people and
businesses to make payments electronically using money issued by the central
bank. Or they could deposit money directly in the central bank, and use debit
cards issued by the central bank itself.
Former Managing Director Christine
Lagarde, who is now President of the European Central Bank, addressed
the Singapore Fintech Festival in November 2018 and hinted at how the
future composition of a CBDC could look:
If digital currencies are sufficiently similar
to commercial bank deposits— then why hold a bank account at all?
What if, instead, central banks entered a
partnership with the private sector—banks and other financial institutions—and
said: you interface with the customer, you store their wealth, you offer
interest, advice, loans. But when it comes time to transact, we take over.
Banks and other financial firms, including
startups, could manage the digital currency. Much like banks which currently
distribute cash.
In this reality, central banks would, according to Lagarde,
‘retain
a sure footing in payments‘. By extension,
they would also retain autonomy over an all digital
financial system.
In relation to what Carstens said about compromising trust,
three months prior to the EU referendum Bank of England official Ben Broadbent
made a very telling comment in a speech appropriately titled, ‘Central banks and digital currencies‘, about the necessity for currency degradation before the
public demand a solution to the traditional monetary model.
Degrade a currency sufficiently, via
hyperinflation and collapse of the banking system, and people will eventually
look for alternatives. But that’s generally the sort of thing that has to
happen. Almost always, these currency substitutions occur only once the
existing currency has become deeply compromised. Even then, the thing people
naturally reach for is an existing, trusted currency – often the US dollar –
rather than some entirely new unit of account.
When currency substitution has occurred
naturally it’s almost always done so only after the incumbent currency has been
debauched by hyperinflation.
I have warned extensively over the past couple of years of the risk of a global trade conflict triggering higher
inflation, the devaluation of currencies such as sterling and the raising of
interest rates. It is what would occur afterwards that is of more
concern. Would people look to central banks as the
saviours in a crisis scenario, giving them licence to digitise all assets
through a network of CBDC’s?
See Advertisement:
As ever, central banks will require sustained geopolitical conflict to
shape the future design of the financial system. They
are already headlong in devising that very system through the reformation of
global payment systems. But with distractions in the shape Brexit and
Donald Trump’s presidency still dominating the discourse, potentially up to
2025, how many are even aware of what the central banks
are planning?
….
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
Joe Rogan
endorsement-induced liberal meltdown & CNN-Warren hatchet job
have clearly
backfired.
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Veterans of
Foreign Wars lashes out after learning 34 soldiers suffered 'traumatic brain
injury'...
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"People will hear about this..."
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"None
of us have been told that."
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"In
two hours, the White House counsel entirely
shredded the case..."
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The
emergency evacuation is planned for Sunday, but limited details...
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Should the
US resort to more Hamiltonian policies versus everyone, not just China, then we
are in for real financial market turbulence ahead given the role the US Dollar
plays today compared to the role gold played for Smith and Ricardo!
2020 starts with markets feeling optimistic due to a
US-China trade deal and a reworked NAFTA in the form of the USMCA. However, the tide towards protectionism may still be coming
in, not going out.
THE FACT is that for the majority of the last 5,000 years global
trade has been highly-politicized and heavily-regulated.
What are
we getting wrong? Perhaps that Ricardo’s theory has major flaws
that don’t get included in our textbooks, as summarized in this overlooked
quote
“It would undoubtedly be
advantageous to the capitalists of England…[that] the wine and cloth should
both be made in Portugal [and that] the capital and labour of England employed
in making cloth should be removed to Portugal for that purpose.” Which is pretty much what happens today! However, Ricardo adds that this won’t happen because “Most men of
property [will be] satisfied with a low rate of profits in their own country,
rather than seek a more advantageous employment for their wealth in foreign
nations,” which is simply not true at all! In other words, his premise is flawed in that:
- It is atemporal in assuming countries move to their comparative advantage painlessly and instantly;
- It assumes full employment
- It assumes capital between countries is immobile
- It assumes trade balances under free trade
- It assumes all goods are equal as in Ricardo’s example, cloth produced in the UK and wine produced in Portugal are equivalent
Ricardo
assumes a benign global political environment for free trade. Yet what
if the UK and Portugal are rivals or enemies? What if the choice is between
steel and wine? You can’t invade neighbours armed with
wine as you can with steel! A large part of the trade tension between
China and the US, just as between pre-WW1 Germany and the UK, is not about
trade per se: for both sides, it is about who produces
key inputs with national
security implications - and hence is about relative power
The track record also shows that global growth can continue even despite protectionism, and in
some cases can benefit from it. That being said, should the US resort to
more Hamiltonian policies versus everyone, not just China, then we are in for real financial market turbulence ahead
given the role the US Dollar plays today compared to the role gold played for
Smith and Ricardo! But that is a whole different fairy tale...
….
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More than 129,000 Illinois public pensioners will
see expected payouts of $1 million or
more during retirement...
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House Dems
will seek to curtail administration's ability for preemptive military action on
Iran.
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US-WORLD ISSUES (Geo Econ, Geo Pol & global Wars)
Global depression is on…China, RU, Iran search for State
socialis+K-, D rest in limbo
Under this legislation, men
accused of having sex with underaged girls could avoid
punishment if they marry their
victims...
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO
..Focus on neoliberal expansion via wars & danger of WW3
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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes &
terrorist imperial chaos
VIENTO SUR
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RT
EN ESPAÑOL
"Volvemos a la Edad Media, un neofeudalismo en
el que cinco empresas poseerán todo"
https://actualidad.rt.com/programas/keiser_report/341019-unico-bueno-reserva-federal-e1493 Depende de Nos el construir un mundo sin
imperios
Irán asegura que tiene
capacidad de enriquecer uranio "en cualquier porcentaje" si así lo
decide https://actualidad.rt.com/actualidad/341046-iran-tener-capacidad-enriquecer-uranio
Y de poner sus bombas en el pais mas lejano que los ataque
Perú va a las urnas para recomponer el Congreso, en
medio de un clima de "decadencia política" https://actualidad.rt.com/actualidad/340592-peru-urnas-recomponer-congreso
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ASIAN NEWS
Press TV
- Watch: Trump called ‘monarch,’ ‘dictator’ in US Senate
- US veterans seek Trump ‘apology’ after Iran attack injuries
- Iran’s Rouhani 'grieved' by deaths in Turkish earthquake
- ‘New York Times pressing Trump to start war with Iran’
- 8-year-old Palestinian found dead; kidnapping suspected
- Irish Unity marches return to Glasgow
- Lebanese police fire water cannons, tear gas at protesters
- Palestinians insist US’ deal of century won’t pass
- Iran can enrich uranium at any level: AEOI official
- Iran can enrich uranium at any level: AEOI official
- Tehran condemns US ‘harassment’ of Iranians at its borders
- US seeks to divide Iraq in three in order to keep troops there
- US seeks to divide Iraq in three in order to keep troops there
- 34 US troops injured in Iran missile strike: Pentagon
- Schiff: Trump must be removed from White House
- 'Americans desperately looking for exit door in Iraq'
- Biden: Trump remarks on Iran missile injuries ‘disgusting’
- US veterans seek Trump ‘apology’ after Iran attack injuries
- ‘New York Times pressing Trump to start war with Iran’
- Iran’s military capabilities give US commanders pause
- Amazon billionaire’s phone ‘hacked by Saudi Arabia’
- Is crisis in Lebanon over?
- Palestinians insist US’ deal of century won’t pass
- 'Fars News blacklisting by US shows news agency's effectiveness'
- ‘EU in total submission to US unilateralism vis-à-vis Iran’
- PROGRAMS
- Iran Nuclear Deal
- Test for rule of law
- Anti-US sentiment in Iraq
- ICJ ruling
- Labor leadership race in UK
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