Wednesday, April 19, 2023

Banker's War


  Christine LaGarde speaks in English to "Volodymyr Zelensky" (phone prankster) in this video from March 17, 2023, explaining that the decision to release the digital Euro will be made this "October 23", which appears to mean October 2023. 
  She says that there will be "controls" on transactions, though they might be waived under 300-400 euros. It is easy enough to watch the short video. One presumes she saw "Volodymyr" on her screen as she spoke.
  LaGarde claims that Germans and Dutch are fine with digital currency, sidestepping the question about "people not wanting to be controlled".
(I am chagrined to have not heard of this sooner. It was on social media, but I'm not...)

   ECB President LaGarde's official statement from Monday is reviewed again in this light. It was unusually frank.
​  ​The tectonic plates of geopolitics are shifting faster. We are witnessing a fragmentation… into competing blocs, with each bloc trying to pull as much of the rest of the world closer to its respective strategic interests and shared values...
​..​Under the hegemonic leadership of the US, rules-based international institutions flourished, and global trade expanded. This led to a deepening of global value chains and, as China joined the world economy, a massive increase in the global labour supply. As a result, global supply became more elastic to changes in domestic demand, leading to a long period of relatively low and stable inflation. That in turn underpinned a policy framework in which independent central banks could focus on stabilising inflation by steering demand without having to pay too much attention to supply-side disruptions.​ ​[That means they just suppressed wages to control inflation.]​ ...
​..​But that period of relative stability may now be giving way to one of lasting instability resulting in lower growth, higher costs and more uncertain trade partnerships. Instead of more elastic global supply, we could face the risk of repeated supply shocks.​..​
​..​Insofar as geopolitics leads to a fragmentation of the global economy into competing blocs, this calls for greater policy cohesion…behind a strategic goal…
​  ​Achieving the right policy framework will not only determine how our economies fare at home, but also how they are viewed globally in a context of greater “system competition.”
…For Europe, long-delayed projects such as deepening and integrating our capital markets can no longer be viewed solely through the lens of domestic financial policy. To put it bluntly, we need to complete the European capital markets union. This will be pivotal in determining whether the euro remains among the leading global currencies or others take its place.
​  ​Central banks also have an important role to play here – even as protagonists. For example, the manner in which swap lines are used could influence the dynamics of major international currencies…. We have already seen the PBOC set up over 30 bilateral swap lines with other central banks to compensate for the lack of liquid financial markets in renminbi. How central banks navigate the digital era --such as innovating their payment systems and issuing digital currencies-- will also be critical for which currencies ultimately rise and fall.
​  ​So, we need to be ready for the new reality that may well lie ahead. The time to think about how to respond to changing geopolitics is not when fragmentation is upon us, but before. Because, if I may paraphrase Ernest Hemingway, fragmentation can happen in two ways: gradually, and then suddenly. Central banks must provide for stability in an age that is anything but stable. And I have no doubt that central banks will measure up to the challenge.”

​ The head of the ECB announces a divergence in global finance, implies that there will be competing currency-coalitions, preferentially trading internally, which will lead to supply-chain disruptions and uncertainty. This will cause price-inflation through restriction of supply. She advises against paying labor more, which will be inflationary. She advises getting cheap fuel and resources for the economy. (Well, that's bad for CO2, we hear.) The upshot is that she thinks central banks will manage this, but must be careful not to let workers get better wages in the process.
  She does say that ​"issuing digital currencies" may be part of a solution, but how? Nobody wants to say that restrictions on spending and elimination of account-assets are how that will "help".
  She says that we should act before there is a problem, which means that the problem already exists. 
  Since the central-bank solution is always to impoverish workers and retirees, we should resist it if we are in those demographics. 
  Withdraw cash. Spend cash. Write checks. Avoid online transactions and use of credit cards when feasible. Get/stay out of debt, and assure food, water, fuel and shelter security as much as possible. Can you grow vegetables? It may take a couple of years to work it out.
  Investigate the stability of your community under stress. Do you have a way to do that? Does it have a history? Has it grown suddenly? Does it have strife between factions in the community? Does it have a lot of debt and high taxes? 

​  ​Massive Strike Hits Canada As Inflation Discontent Spreads Around The World

​    The title is inflammatory, but in a time of supply chain stress, external dependencies should be reduced or eliminated. Also, the lifetime environmental impact of cars is pretty well reflected in their lifetime price, including purchase price and fuel/electricity cor=st for 200,000 miles. Electrics and hybrids are more wasteful than fossil fuel economy vehicles.​
  Since "the purpose of legislation is what it does" the purpose of this legislation is to reduce personal ownership and use of vehicles in the US. There is not the grid capacity or wealth to transfer to electric vehicles at par, so there will be a vast reduction in car/truck ownership and use, especially among poorer and middle class people. 
  That covertly concurs with the espoused goal of CO2 emission-reduction. 
  In my view, the real problem is that net-oil production is already in terminal decline, and they can't admit the truth. "When it is important you have to lie."
​  ​"This Is Industrial Suicide": Biden’s EV Plan Could Be Key To China’s Global Economic Dominance
The agency anticipates that with the new standards, two-thirds of new light-body vehicles will be electric by the model year 2032, up from less than six percent today...
​..​“This is industrial suicide,” said James Kennedy, a U.S. mine owner and rare earths expert, in an April 17 interview with The Epoch Times.
​  ​“By design, their goal is to wipe out, to destroy, to effectively terminate the massive economic investment that the auto companies have made in the internal combustion engine,” he said.
​  ​He outlined China’s long-range, strategic plan to dominate the mining and refining of rare earths, as well as the production of downstream technologies.
​  ​“No one in the West will accept the reality that China has total domain control at every level,” he added.
​  ​The rare earth metals terbium, holmium, and dysprosium are one key choke point for Chinese control over EV production.
​  ​Kennedy explained that the elements enable neodymium magnets to function at the high temperatures found in the motors of electric cars
“China is the only country in the world, period, exclamation point, that can separate those materials,” he said

​  This has been known for years, but now it is official. The most prosperous country in Africa, with the highest standards of living and education, was destroyed to support the $US​ oil-trade-monopoly.
​  ​An investigation by the United Nations has concluded that money provided by the European Union to state entities in Libya has facilitated crimes against humanity ranging from forced labor and sexual slavery to torture.

​  ​Doubled Pregnancy Loss Rate, Raised Foetal Abnormality Rate and Concentration of Lipid Nanoparticles in Ovaries – How Could They Call This Vaccine ‘Safe’?

​  Fewer shots to avoid, same principle...
The FDA has declared that only bivalent shots are authorized for use in US - April 18, 2023

​  ​The Canadian Freedom Convoy and the Fate of Our Universities, Professor Anthony Hall​
​  ​The Truckers Freedom Convoy that converged on Ottawa and other sites along the Canada-US border in February of 2022 continues to be a flash point of strident disagreement in Canada. Even as the the Truckers’ parking protest in Ottawa was unfolding, there seemed to be a clear split developing. Working class people both formed and massively supported the process of applying significant democratic pressure to bring about a needed reality check in our nation’s complacent capital...
​..​It didn’t seem to dawn on the urban professionals of Ottawa how onerous and disgraceful the federal handling of the manufactured COVID crisis had become. The epic scale of the federal ineptitude that was literally killing and injuring large numbers of people in our national version of a ghastly worldwide phenomenon that is still unfolding and is still being obsessively covered up...
​..​The well-publicized campaign to defame, smear and bury the Truckers movement is becoming increasingly rabid as we build towards a show trial that will take place in Southern Alberta this summer or fall. Four Truckers face Kafkaesque charges that they conspired to kill RCMP officers. These four individuals have been held in jail now for more than a year without having been convicted of anything.

​   You can't say anything Russians like or it's a crime. You are free to say things Russia would not like. We will judge that fairly.
​   Biden DOJ Indicts Four Americans For "Weaponized" Free Speech
​  ​Omali Yeshitela, the founder and chairman of the African People's Socialist Party and one of the four Americans named in the indictment, has adamantly denied ever having worked for Russia. Earlier this month before charges were brought against him, the Tampa Bay Times quoted him as saying, "I ain’t ever worked for a Russian. Never ever ever ever. They know I have never worked for Russia. Their problem is, I’ve never worked for them.”​ ...
​..The US government is constantly engaging in foreign influence operations with outfits like the National Endowment for Democracy, which was set up to help foment coups and color revolutions and advance US information interests overtly in ways the CIA used to do covertly.
​  ​As commentator Brian Berletic noted on Twitter, "The US through the National Endowment for Democracy has created armies of organizations carrying out malign influence operations around the world including here in Thailand. When the Thai government attempts to stop this activity, the US embassy shouts 'free speech.'

​  I'd like a double global warming methane-burger with oil-fries, please.  Uh, can I pay cash?
​  New York City to Track Personal Food Choices Using Credit Card Data
This is needed to fight climate change, NYC mayor says

Fixing Carbon and Nitrogen (pictured with 2 green tomatoes I'm watching)

No comments:

Post a Comment