Breakdown of Global Monetary System by mid 2009 - great article

[EYES WIDE OPEN]

he G20-meeting held in Washington on November 14/15, 2008, is in its essence a historical indicator that the Western - above all Anglo-Saxon - monopoly on global economic and financial governance, is coming to an end. Nevertheless, according to LEAP/E2020, this meeting also clearly demonstrated that this kind of summits is doomed to inefficiency because they concentrate on curing the symptoms (banks’ and hedge funds’ financial difficulties, derivative markets’ explosion, financial and currency markets’ dramatic volatility, ...) rather than the fundamental root of the current crisis, i.e. the collapse of the Bretton Woods system based on the US Dollar as sole pillar of the global monetary system. Without a complete overhaul of the system inherited from 1944 by summer 2009, the failing of the current system and that of the United States at the center, will lead the whole planet to an unprecedented economic, social, political and strategic instability, and more specifically to a breakdown of the global monetary system by summer 2009. In light of the technocratic jargon and calendar of the declaration released after this first G20-meeting (totally disconnected from the speed and scope of the unfolding crisis (1)), it is more than likely that the disaster will have to happen for the fundamental problems to be seriously addressed and for the beginning of a reply to be initiated.

Four key-factors are now pushing the Bretton Woods II (2) system to collapse in the course of the year 2009:

• Fast weakening of the central players: USA, UK
• Three visions of the future of global governance will be dividing world’s largest players (United-States, Eurozone, China, Japan, Russia, Brazil) by spring 2009
• Unbridled speeding-up of the last decade’s (de-)stabilizing processes
• Increasing number of more and more violent backlashes.

LEAP/E2020 already extensively described factors 1 and 4 in previous editions of the GEAB. Therefore we will concentrate on factors 2 and 3 in the present edition (GEAB N°29).

The agitation that has seized global leaders since the end of September 2008 indicates that panic has struck at the highest level. Worldwide political leaders have now understood that the house is on fire. But they have not yet perceived something obvious: that the very structure of the building is involved. Improving fire-regulations or reorganizing emergency services will not be sufficient.

REST HERE:


http://www.leap2020.eu/GEAB-N-29-is-...009_a2435.html

[Humble Janitor]

Better pay off my debts then, unless they'll be worthless once the financial system collapses.

[andromeda]

I don't know how to explain this but I kinda have a feeling that money as we know it will be worthless...and will need for example ten pounds to get one world chip...

Went through something similar when living in Argentina and they had hiperinflation...exactly what goverments worldwide are doing...printing their way out of the crisis


Love

[ghglenn]

They are gonna shore things up with e-money. Everyone will use cards,
no more hard currency. The amount of paper printed in the U.S.
is too great to overcome the debt ratio. Things are definitely gonna
change, and it is gonna be a rough ride.

[Mike_Jetson]

Deflation seems to be on the cards here in the UK. People selling out as fas and as soon as possible while the majority of folk just cruise along waiting for the taxes to get lower and everything to seem rosier.

The question is. What will the trigger be?

[deb003]

LAROUCHE IS ON NOW TALKING ABOUT HE ECONOMY:
http://larouchepac.com/news/2008/11/...st-chance.html

[Pure_energy]

Originally Posted by Mike_Jetson

Deflation seems to be on the cards here in the UK. People selling out as fas and as soon as possible while the majority of folk just cruise along waiting for the taxes to get lower and everything to seem rosier.

The question is. What will the trigger be?

Hey mate this deflation here in uk for me its another media controled Kansas City Shuffle... I dont see any relevant goods like food or energy ( apart from petrol ) that is going down. Go to Tesco or Asda and see for yourself.
British gas had the nerve to say all over the last 2 years that the rise in price was due to the rise in petrol now the barrel is less than 60$ ( after a peak of 120$ ) and they refuse to bring prices down.
Maybe I-pods and fashion clothes are going down but I can live without that no problem because is not relevant to me.
Even petrol that is going down is not realistic if you compare that the crude fell around 50% and on the pump fell around 20%.

Silly thing now... I used to buy a bar of 200g of Tesco chocolate for 52p 6 months ago... now is 99p... where is the deflation on that.... almost 100% increase... ice cream was 99p... now 1.40... and Gordon Brown has the face to say we can not let deflation start... I want to see prices going donw so I can afford something to eat.

[Ampgod]

I believe this large scale orchestration (Financial,Political etc) will bring about a human reconnection that has long been lost.

[Greg222]

It is my contention that one should take what cash they can affort to lay out now and purchase SURVIVAL supplies, you know, food, water, medicines, etc. Of course, for those with extra cash, good ol' hard metal (gold, silver) is a great way to to... the hard stuff, not paper certificates or similar. People in general are still mesmerized by the system's talk, they don't seem to get that a complete financial meltdown in underway.
If you check elsewhere on this blog, you will find my (and other's) tips on survival supply thinking. Take it seriously, when the runs at the stores begin, you won't even be allowed into the front door.