Nueva Democracia: JUL 13 2021 ND SIT EC y POL Part 1 & Part 2

JUL 13 2021 ND SIT EC y POL Part 1 & Part 2

ND denounce-neoliberal debacle y propone State-Social + Capit-compet in Eco

ZERO HEDGE ECONOMICS

Neoliberal globalization is over. Financiers know it, they documented with graphics

CAN THE DOLLAR SURVIVE BOTH CRYPTOCURRENCIES AND CHINA?

By Alexander Herborn and Gunther Schnabl via The Mises Institute,

...perhaps, in the face of GROWING COMPETITION, the major central banks will RETURN TO THE VIRTUE OF MONETARY STABILITY.

Hayek argued that governments have never devoted their power to providing proper money over time. They “have refrained from grossly abusing it only when they were under such a discipline as the gold standard imposed.”

The gold backing of the US dollar as the global reserve currency was lifted in the early 1970s, and paper currencies, so-called fiat currencies, have since become the norm.

Following this decision, the paper currencies have dramatically lost value against gold (figure 1). Since the turn of the millennium, this process has substantially accelerated.

See Fig 1:

GOLD price in USD

https://cms.zerohedge.com/s3/files/inline-images/schnabl1_0.jpg?itok=O9gLh67b

Firstly, decentralized private digital currencies have emerged in contrast to the public monopolies on creating money. Anyone can create (mine) the pioneer bitcoin, but the supply is credibly limited.

Other cryptocurrencies (decentralized or centralized) such as ether, ripple, tether, and dogecoin have been created (“altcoins”), but they are considered only more or (mostly) less equal to bitcoin in terms of credibility. The sharp increase in the value of cryptocurrencies measured in fiat currencies (figure 2) indicates that—despite strong fluctuations—many people trust in their store-of-value function.

See Fig 2

Price of Bitcoin in USD

https://cms.zerohedge.com/s3/files/inline-images/schnabl2_0.jpg?itok=LxSR-PQR

Secondly, a consortium of private companies around the internet giant Facebook intends to join in the competition for the money monopoly. In contrast to many cryptocurrencies, diem (formerly libra) is to be pegged to the US dollar (or the euro).

Thirdly, competition for the exorbitant privilege also seems to have emerged among paper currencies. Up to now, all major central banks had expanded their balance sheets in tandem with the Fed, such that competition among fiat currencies was de facto suspended

See Fig 3

China holding of US Government Bonds

https://cms.zerohedge.com/s3/files/inline-images/schnabl3_0.jpg?itok=sLzwW-Iv

Since 2014, China has been gradually reducing its holdings of US government bonds (figure 3). Instead of holding US government bonds, investments were made in infrastructure in developing countries and, like Russia, China increased its gold holdings (figure 4).

See Fig 4

Official gold holding of China & RU

https://cms.zerohedge.com/s3/files/inline-images/schnabl4.jpg?itok=IGJ12Cii

However, the major central banks will not stand idly by and watch this competition. The ECB and Fed are working intensively on the development of their own central bank digital currencies (CBDC), which may enable decentralized payments outside of commercial banks. If citizens were skeptical of digital euros and dollars, strict regulation or even a ban on private cryptocurrencies could foster the popularity of central bank digital currencies. Warnings from key central bank officials such as Christine Lagarde and Andrew Bailey that cryptocurrencies are used in shady transactions and carry the risk of total loss do not appear to be a sufficient deterrent. The People’s Bank of China has already banned cryptocurrencies as a means of payment.

But perhaps, in the face of growing competition, the major central banks will return to the virtue of monetary stability. At the end of the high inflation phase of the 1970s, Paul Volcker, as the new Fed chairman, broke the back of inflation with sharp interest rate increases. This also secured the international reserve currency status of the US dollar, which had become challenged by the German mark. Now bitcoin or the Chinese yuan could take over the role that the German mark had in the 1970s. If this were to happen now, it would be evidence of the disciplining effect of currency competition as suggested by Hayek.

….

SOURCE: https://www.zerohedge.com/economics/can-dollar-survive-both-cryptocurrencies-and-china

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WTI SLIDES FROM 33-MONTH HIGHS AFTER INVENTORY DATA [See Chart ]

"You're still not going to have enough crude oil on the market to avoid a supply deficit by the end of the year. That was definitely a tailwind for the market,"

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THE $50 TRILLION PLUNDERED FROM WORKERS BY AMERICA'S ARISTOCRACY IS TRICKLING BACK

by Charles Hugh Smith via OfTwoMinds blog, MUST READ!

The serfs are quietly slipping away, and the Aristocracy, blinded by hubris and greed, believes nothing will ever change because, well, their wealth and power is deserved.

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CONSUMER PRICE INFLATION: FACTS VS. FICTION

The inflation cycle of 2021 is unlike anything experienced in decades. It is fast and broad, and one of the most surprising features is that owners' housing costs are running less than half as fast as the core.

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Billionaires also abandon neoliberal system . We should do it too!

GOLDMAN HAS "AGGRESSIVELY" AND QUIETLY LIQUIDATED A QUARTER OF ITS EQUITY INVESTMENTS

"Goldman has made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive."

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US DOMESTIC POLITICS

Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption.

Vaccine is a business by big Corp. Create powerful immune system is real care

"IT NEEDS TO BE HARD FOR PEOPLE TO REMAIN UNVACCINATED": MAKING THE CASE FOR COVID CHALLENGES

...the Democrats are leery of openly forcing vaccines before the 2022 election. That is why the push is to make life more difficult through private companies...

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FED PRESIDENT BLAMES NEVERENDING QE ON HIGH INCARCERATION RATES OF BLACKS AND LATINOS

"Incarceration is a drag on our ability achieve

our maximum-employment goal."

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BORDER SITUATION "WORST I'VE EVER SEEN": REP. WILLIAMS

"...philosophy of open borders is going to be the destruction of our great democratic republic that we’re all so proud of and and have enjoyed the liberties and freedoms of past generations..."

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Is this a plan to create mercenaries from Cuba & then sending back to fight Gvt?

US COAST GUARD TO CUBANS IN CRISIS: "PLEASE DON'T TAKE TO THE SEA"

Warning also comes as Cuban-Americans in South Florida attempting to send their own "supply & support" boats to the island..

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67 Wildfires Spread Across 10 States In US West

"Nearly 918,000 acres have burned..."

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First we sabotage RU ductos to provide oil to Germany & Europe & now oppose CO.2

YELLEN URGES DEVELOPMENT BANKS TO STOP FOSSIL FUEL FUNDING

...intends to “articulate our expectations that the MDBs align their portfolios with the Paris Agreement and net-zero goals as urgently as possible,”

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GOLDMAN SAYS ECONOMIC IMPACT FROM DELTA WILL LIKELY BE "MODEST"

While the US media is obsessed with trailing vaccination rates in a small number of states, the fact remains that the US is one of the most heavily vaccinated countries in the world...

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US-WORLD ISSUES (Geo Econ, Geo Pol & global Wars)

Global depression is on…China, RU, Iran search for State socialis, D rest in limbo

CUBAN PRESIDENT BLAMES US-BACKED "MERCENARIES" FOR PROTESTS, URGES "REVOLUTIONARY CITIZENS" FIGHT BACK

"The order to fight has been given – into the street, revolutionaries!"

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CUBA ACCUSED OF USING CHINESE TECH SYSTEMS TO BLOCK INTERNET ACCESS AMID PROTESTS

"Huawei, TP-Link, and ZTE..."

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It is good to know the China is helping the island bombed by US years ago

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CHINA MEGA INVESTMENT DEAL WITH IRAN BLOWS US OUT OF THE PICTURE