Council on Foreign relations--Gauging Dollar Decline

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agitating prop's picture
agitating prop
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Council on Foreign relations--Gauging Dollar Decline

Interesting article from the CFR's own website regarding the options involved for a cratering U.S. currency. Benn Steil, the author of the article, seems to think that of all obvious alternatives to the dollar, a gold backed currency would do the least harm, in terms of international economic fall out.  The power elite, must be personally accumulating like crazy, confident this is the likely end game scenario, pulled out of a basket of contingency plans.  Doesn't it make sense? How easy would that be? They could double, triple their money almost overnight.

Gauging Dollar Decline--Benn Steil--Council on Foreign Relations website:

"China's initiative to conduct trade with Brazil and Russia without dollars is one that could catch on.  Unfortunately, to the extent that it does, it is a real threat to the multilateral trading system. As these countries will not want to stockpile one another's currencies, they will need to pursue trade discrimination practices that balance trade bilaterally across trading partners. Any large-scale shift away from dollars as the global reserve and trade currency to euros would necessarily result in a huge appreciation of the euro and a rapid rise in eurozone current account deficits. This would produce a massive protectionist backlash in Europe, and is therefore also a threat to global free trade. The only other viable alternative I see is privately produced gold-backed money. There are already many "gold banks" in operation, which allow account holders to store, receive, and transfer digital shares of gold.  If the phenomenon grows, it will naturally lead to the issuance of gold debit cards. This would allow you, for example, to walk into a café in Sao Paolo and pay for your cappuccino with a swipe of your card for a tenth of a gram of gold."

http://www.cfr.org/publication/20453/gauging_the_dollar_decline.html?bre...

DrKrbyLuv's picture
DrKrbyLuv
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Posts: 1995
Re: Council on Foreign relations--Gauging Dollar Decline

agitating prop wrote:

Benn Steil, the author of the article, seems to think that of all obvious alternatives to the dollar, a gold backed currency would do the least harm, in terms of international economic fall out. The power elite, must be personally accumulating like crazy, confident this is the likely end game scenario, pulled out of a basket of contingency plans. Doesn't it make sense? How easy would that be? They could double, triple their money almost overnight.

Hello agitating prop,

I think you make a very good point.  Patrick Wood wrote an article about this entitled Trilateral Plan to Corner World Gold Market?

Some snips:

As paper currencies accelerate toward disintegration, there appears to be a larger plan to re-establish world financial domination by cornering the global gold market... a concerted and long-range undertaking.  At the heart are members of the Trilateral Commission and the global banks associated with it.  This may be the final trump card played on the road to the New International Economic Order.

Since 1973, this writer has made inquiry as to the location and ownership of the vast stores of monetary gold (400 oz., .999 pure bars) in the world.  There has not been a formal audit on Fort Knox, for instance, since the Eisenhower administration.  Official statistics on gold holdings are often contradictory.  Getting plain answers from any Central Bank in the world, including the Fed, is virtually impossible.

There is mounting evidence that there has been a larger plan underway to corner the global supply of gold, thus laying the groundwork for a global currency exclusively controlled by Trilaterals and their friends. By extension, economic and political mechanisms would be controlled to the same extent.

In 1976, Antony Sutton wrote, "The assault on gold today is an integral part of a planned move into a new economic order under the dominance of a single country. It was Nazi Germany in the 1940's; it is the United States in the 1970's.  In brief, the war on gold that we observe today, and discuss below, is dollar imperialism, designed to maintain the U.S. dollar as the only world currency without competitors. The purpose is the formation of a world totalitarian state under Wall Street dominance."

The famous bullion banks include Goldman Sachs, JP Morgan Chase, Citigroup and Deutsche Bank, all of which have at least one director or senior official sitting on the Trilateral Commission.  In addition, the players Murphy names are members of the Commission.

Before he was CEO of Goldman Sachs and then US Treasury Secretary, Robert Rubin worked in London for Goldman Sachs. One of his duties was to oversee their gold trading operations.  We know this because the CEO of Kirkland Lake Gold, Brian Hinchcliffe, a staunch GATA supporter, worked in London back then for Goldman Sachs and reported directly to Robert Rubin.

Bullion banks such as Goldman and Morgan became The Gold Cartel’s hit men, trading the gold market from the short side and bombing the market in coordinated anti-trust fashion at the beck and call of our government, making a great deal of money in the process … as you have all witnessed the past couple of months.

Three GATA consultants, Reg Howe, Frank Veneroso and James Turk, using independent, sophisticated methodologies, came to the same conclusion years ago … that the central banks have far less gold than the 30,000 tonnes of gold they say they have. The GATA camp research shows they have less than half that amount in their vaults, the difference being the amount that has been fed into the physical market to suppress the price. Since demand for physical gold exceeds mine and scrap supply by well over than 1,000 tonnes per year, this central bank gold is vital to prevent the price from exploding.

Several very serious implications can be drawn:

  • The massive amounts of gold leased to bullion banks will ultimately be seized by these same banks as collateral against worthless paper loans made to the Central Banks.
  • Central Banks (including the Federal Reserve) could well be left to disintegrate in order to give way to a single global central bank controlled and fueled by the bullion banks who have monopoly control over the world's gold.
  • These superbanks are all closely tied to the goals and membership of the Trilateral Commission, whose members have methodically carried out a monetary policy designed to bring about this eventuality.
  • For all practical intent, individuals will be frozen out of the gold market at any price.

Indeed, a global totalitarian state may be closer than we think; as the globalist's golden rule states, "He who has the gold, makes the rules."

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