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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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old money still controls mainstream media so they'll either report this as a sidenote or censor it out.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Interesting this coming from BIS - http://www.telegraph.co....orldwide-debt-surge.html$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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The Times back in 1986 when Peru's Garcia tried to fight off the IMF during those dark Latin America days. Quote:"All successful revolutions require a foreign enemy. The (International Monetary) Fund is my enemy. But the U.S. errs when it considers my attacks on the fund attacks on the U.S. Washington should realize that the fund is its enemy, too. I want to have good relations with the U.S."
--Alan Garcia
President Alan Garcia of Peru, a defiant maverick of international finance, has found an improbable ally in his search for radical reform. It is called supply-side economics.
The International Monetary Fund, which Garcia calls "a senseless institution," has warned that in April it will declare Peru ineligible for further assistance if $72 million in arrears is not dealt with properly. That may also trigger action from more than 200 creditor banks and rule out any further development assistance from the World Bank, the IMF's sister lending agency.
Garcia is prepared for the worst. Last week the central bank disclosed that it had withdrawn Peru's deposits of gold, silver and foreign exchange from U.S. and European banks.
http://articles.latimes..../fi-14917_1_alan-garcia
It's bizarre that IMF/WB has survived this long with this kind of bully behaviour since the oil embargo of the 70s. But times have indeed caught up with them and the balance has tipped going forward. This will be a spectacular fight and the media headlines will be as juicy as it gets across the global divide as the old fights the new kid (NDB - BRICS) on the block. How many nations are now demanding their gold back?  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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hisah wrote:The Times back in 1986 when Peru's Garcia tried to fight off the IMF during those dark Latin America days. Quote:"All successful revolutions require a foreign enemy. The (International Monetary) Fund is my enemy. But the U.S. errs when it considers my attacks on the fund attacks on the U.S. Washington should realize that the fund is its enemy, too. I want to have good relations with the U.S."
--Alan Garcia
President Alan Garcia of Peru, a defiant maverick of international finance, has found an improbable ally in his search for radical reform. It is called supply-side economics.
The International Monetary Fund, which Garcia calls "a senseless institution," has warned that in April it will declare Peru ineligible for further assistance if $72 million in arrears is not dealt with properly. That may also trigger action from more than 200 creditor banks and rule out any further development assistance from the World Bank, the IMF's sister lending agency.
Garcia is prepared for the worst. Last week the central bank disclosed that it had withdrawn Peru's deposits of gold, silver and foreign exchange from U.S. and European banks.
http://articles.latimes..../fi-14917_1_alan-garcia
It's bizarre that IMF/WB has survived this long with this kind of bully behaviour since the oil embargo of the 70s. But times have indeed caught up with them and the balance has tipped going forward. This will be a spectacular fight and the media headlines will be as juicy as it gets across the global divide as the old fights the new kid (NDB - BRICS) on the block. How many nations are now demanding their gold back? If there's any left "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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murchr wrote:hisah wrote:The Times back in 1986 when Peru's Garcia tried to fight off the IMF during those dark Latin America days. Quote:"All successful revolutions require a foreign enemy. The (International Monetary) Fund is my enemy. But the U.S. errs when it considers my attacks on the fund attacks on the U.S. Washington should realize that the fund is its enemy, too. I want to have good relations with the U.S."
--Alan Garcia
President Alan Garcia of Peru, a defiant maverick of international finance, has found an improbable ally in his search for radical reform. It is called supply-side economics.
The International Monetary Fund, which Garcia calls "a senseless institution," has warned that in April it will declare Peru ineligible for further assistance if $72 million in arrears is not dealt with properly. That may also trigger action from more than 200 creditor banks and rule out any further development assistance from the World Bank, the IMF's sister lending agency.
Garcia is prepared for the worst. Last week the central bank disclosed that it had withdrawn Peru's deposits of gold, silver and foreign exchange from U.S. and European banks.
http://articles.latimes..../fi-14917_1_alan-garcia
It's bizarre that IMF/WB has survived this long with this kind of bully behaviour since the oil embargo of the 70s. But times have indeed caught up with them and the balance has tipped going forward. This will be a spectacular fight and the media headlines will be as juicy as it gets across the global divide as the old fights the new kid (NDB - BRICS) on the block. How many nations are now demanding their gold back? If there's any left Gadaffi demanded gold for his oil and that's probably why he isn't around anymore. It was also very telling that opening a central bank was the 1st thing Libyan rebels did.Historically ditching the dollar has been a very tricky affair.Lets watch how the new fight will go.
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Rank: Elder Joined: 5/21/2013 Posts: 2,841 Location: Here
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whiteowl wrote:murchr wrote:hisah wrote:The Times back in 1986 when Peru's Garcia tried to fight off the IMF during those dark Latin America days. Quote:"All successful revolutions require a foreign enemy. The (International Monetary) Fund is my enemy. But the U.S. errs when it considers my attacks on the fund attacks on the U.S. Washington should realize that the fund is its enemy, too. I want to have good relations with the U.S."
--Alan Garcia
President Alan Garcia of Peru, a defiant maverick of international finance, has found an improbable ally in his search for radical reform. It is called supply-side economics.
The International Monetary Fund, which Garcia calls "a senseless institution," has warned that in April it will declare Peru ineligible for further assistance if $72 million in arrears is not dealt with properly. That may also trigger action from more than 200 creditor banks and rule out any further development assistance from the World Bank, the IMF's sister lending agency.
Garcia is prepared for the worst. Last week the central bank disclosed that it had withdrawn Peru's deposits of gold, silver and foreign exchange from U.S. and European banks.
http://articles.latimes..../fi-14917_1_alan-garcia
It's bizarre that IMF/WB has survived this long with this kind of bully behaviour since the oil embargo of the 70s. But times have indeed caught up with them and the balance has tipped going forward. This will be a spectacular fight and the media headlines will be as juicy as it gets across the global divide as the old fights the new kid (NDB - BRICS) on the block. How many nations are now demanding their gold back? If there's any left Gadaffi demanded gold for his oil and that's probably why he isn't around anymore. It was also very telling that opening a central bank was the 1st thing Libyan rebels did.Historically ditching the dollar has been a very tricky affair.Lets watch how the new fight will go. Reminds me of Saddam too. For demanding payment of his oil in Euros rather than USD, he had to go. Isn't it instructive that the two countries at the forefront of the war in Iraq, the U.S & U.K, none of them uses the Euro as their legal tender? Life is like playing a violin solo in public and learning the instrument as one goes on.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Rankaz13 wrote:whiteowl wrote:murchr wrote:hisah wrote:The Times back in 1986 when Peru's Garcia tried to fight off the IMF during those dark Latin America days. Quote:"All successful revolutions require a foreign enemy. The (International Monetary) Fund is my enemy. But the U.S. errs when it considers my attacks on the fund attacks on the U.S. Washington should realize that the fund is its enemy, too. I want to have good relations with the U.S."
--Alan Garcia
President Alan Garcia of Peru, a defiant maverick of international finance, has found an improbable ally in his search for radical reform. It is called supply-side economics.
The International Monetary Fund, which Garcia calls "a senseless institution," has warned that in April it will declare Peru ineligible for further assistance if $72 million in arrears is not dealt with properly. That may also trigger action from more than 200 creditor banks and rule out any further development assistance from the World Bank, the IMF's sister lending agency.
Garcia is prepared for the worst. Last week the central bank disclosed that it had withdrawn Peru's deposits of gold, silver and foreign exchange from U.S. and European banks.
http://articles.latimes..../fi-14917_1_alan-garcia
It's bizarre that IMF/WB has survived this long with this kind of bully behaviour since the oil embargo of the 70s. But times have indeed caught up with them and the balance has tipped going forward. This will be a spectacular fight and the media headlines will be as juicy as it gets across the global divide as the old fights the new kid (NDB - BRICS) on the block. How many nations are now demanding their gold back? If there's any left Gadaffi demanded gold for his oil and that's probably why he isn't around anymore. It was also very telling that opening a central bank was the 1st thing Libyan rebels did.Historically ditching the dollar has been a very tricky affair.Lets watch how the new fight will go. Reminds me of Saddam too. For demanding payment of his oil in Euros rather than USD, he had to go. Isn't it instructive that the two countries at the forefront of the war in Iraq, the U.S & U.K, none of them uses the Euro as their legal tender? Yeah Saddam suffered the same fate.There are very few countries remaining that don't suck up to the petrodollar (Iran,Syria n Cuba)It's what funding these endless wars.Well in Syria they now have part of the country and when I look at that map,I think their long-term target is Iran. The Russia-China gas/oil deal might turn tables if it's executed in another currency since China now imports more oil than the US. Gazprom has floated the idea of using €. On the same note,US has been always willing to pay Saudi monarchy higher rates for their oil as long it's paid in dollars. And why not coz they're the ones printing it.Saudis are also encouraged to invest in long-term bonds with the oil dollars so in some cases the money never leaves New York. Its one grand casino. Anyway they're happy to suck up to the system as long as it makes/keeps them billionaires.
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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whiteowl wrote:murchr wrote:hisah wrote:The Times back in 1986 when Peru's Garcia tried to fight off the IMF during those dark Latin America days. Quote:"All successful revolutions require a foreign enemy. The (International Monetary) Fund is my enemy. But the U.S. errs when it considers my attacks on the fund attacks on the U.S. Washington should realize that the fund is its enemy, too. I want to have good relations with the U.S."
--Alan Garcia
President Alan Garcia of Peru, a defiant maverick of international finance, has found an improbable ally in his search for radical reform. It is called supply-side economics.
The International Monetary Fund, which Garcia calls "a senseless institution," has warned that in April it will declare Peru ineligible for further assistance if $72 million in arrears is not dealt with properly. That may also trigger action from more than 200 creditor banks and rule out any further development assistance from the World Bank, the IMF's sister lending agency.
Garcia is prepared for the worst. Last week the central bank disclosed that it had withdrawn Peru's deposits of gold, silver and foreign exchange from U.S. and European banks.
http://articles.latimes..../fi-14917_1_alan-garcia
It's bizarre that IMF/WB has survived this long with this kind of bully behaviour since the oil embargo of the 70s. But times have indeed caught up with them and the balance has tipped going forward. This will be a spectacular fight and the media headlines will be as juicy as it gets across the global divide as the old fights the new kid (NDB - BRICS) on the block. How many nations are now demanding their gold back? If there's any left Gadaffi demanded gold for his oil and that's probably why he isn't around anymore. It was also very telling that opening a central bank was the 1st thing Libyan rebels did.Historically ditching the dollar has been a very tricky affair.Lets watch how the new fight will go. The US may continue fighting but its likely the end of paper money and central banking (that allows fractional reserve banking and hence booms and burst) is near. Commodity money (gold and silver) coming back big time. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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