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Thread: BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks

  1. #46
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    Pufferfish identified
    Errrrr?

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    Senior Member Catsquotl's Avatar
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    Like anyone i'd be interested in an exchange of wits between thatguy and modwiz. I would hope though its regarding a topic everybody could benefit from the exchange for whats being discussed.
    Not about the (i think) misconception of what constitutes a dragon. Fairy tales,stories of legend or real life families. As I fear could be the case here..



    What I would like to know is how the BRICS countries, even though they have some gold to back the currency, implement their gold to value ratio.
    Will they use a fractional finance "trick" to give out loans? Have they implemented save guards for usury?

    I know I am slow on the uptake some times.These questions only just now surfaced and I will investigate myself, but would be thankful if anyone has some pointers to where to go for more.

    With Love
    Eelco
    Have a great day today

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    Not about the (i think) misconception of what constitutes a dragon. Fairy tales,stories of legend or real life families. As I fear could be the case here..
    That is exactly what happened here, sigh. Nothing more to add

    PUFFERFISH OUT, goddammit.

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    All thats happened here is a misunderstanding

    Can we please move on wtf is there something in the air or what

    Maybe its times for this

    No one person can ever change the truth, but the truth, once learned, can and will change the person

    You must be the change you wish to see in the world when you are through changing, you are through


    theonetruth forum status theonetruth facebook

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    Dear Malc can we not have a discussion about facts and logic that do not resort into unpleasantness?

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    Quote Originally posted by Ria View Post
    Dear Malc can we not have a discussion about facts and logic that do not resort into unpleasantness?
    That clearly remains to be seen doesn't it. For the sake of this wonderful place I certainly hope so Ria.

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    Quote Originally posted by Eelco View Post
    What I would like to know is how the BRICS countries, even though they have some gold to back the currency, implement their gold to value ratio.
    Will they use a fractional finance "trick" to give out loans? Have they implemented save guards for usury?

    I know I am slow on the uptake some times.These questions only just now surfaced and I will investigate myself, but would be thankful if anyone has some pointers to where to go for more.

    With Love
    Eelco
    This is what I think would happen based on things I've seen & read & half remembered ( probably wrong but at least I'll stick my neck out )

    Certainly China, S Africa & Russia all have big gold mines, so can literally "create wealth", China is rumoured to be sat on thousands of tons of gold bullion that it has saved up over the years.

    If they based their currencies on gold I presume each monetary unit, "rouble" (or whatever) would be worth (as is a token of ) a tiny piece of gold, say a 1000th of an ounce for arguments sake.

    For each rouble there would have to be a physical piece of gold, they could use the "trick" or "rehypothecation" to an agreed amount, as not all monies would be claimed at once, but it would be the start of the slippery slope all over again.

    This should mean that the currency is directly pegged to the price of gold, which would mean that all currencies linked to gold would be worth the same & a lot of the rackets like currency trading & manipulating currency values for one reason or another would end.

    It would also spell the end of private "central banks" & the worlds biggest scam, the bond market, if done right & we wouldn't be all in debt to criminals who created money out of thin air & then demanded interest on it.

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    This should mean that the currency is directly pegged to the price of gold, which would mean that all currencies linked to gold would be worth the same & a lot of the rackets like currency trading & manipulating currency values for one reason or another would end.

    It would also spell the end of private "central banks" & the worlds biggest scam, the bond market, if done right & we wouldn't be all in debt to criminals who created money out of thin air & then demanded interest on it.

    Yes it would be logical that even with the changes ahead from Bricks , the money base price will be that of gold , in fact ,there is problem with gold , there isnt enough of it to get to the amount of zeros , so when it really hits the fan ,i think within 2 years (my opinion mixed with dow charts)the price of gold will have to rise ,perhaps three to four times, its value to compensate for the lack of it go around.

    Here is a little snit bit of info ;
    How much gold do we think there is ?? ,a quick search gives us a declared figure ratio

    At the end of 2009, it was estimated that all the gold ever mined totaled 165,000 tonnes. This can be represented by a cube with an edge length of about 20.28 meters. At $1,600 per troy ounce, 165,000 metric tonnes of gold would have a value of $8.5 trillion.

    You see there isn't enough to back the amount of money supposedly circulating so its price will have to rise to record amounts in order to get at least closer to be able to back currencies.A good time to invest i'm led to believe is when it goes below the 1000 dollar mark,I think this will mean the end game for the U.S. dollar,just before they ruin the place , It was done before in this manor , remember they made Greece use all of its gold reserve to pay immediate debts, that week the gold went down 20 percent i think it was , just before they payed which helped to ruin them even further.

    Perhaps in time even gold wont be anywhere near its use and also will fall to become worthless.And a new system will be in place but for the up and coming transition of primary change gold is it.

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    Just adding a little spanner to the works,to the scenario above ,although the u.s. dollar is the agenda ,what about that of this Dragon,Where does this one go in the course of things ?


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    At the end of 2009, it was estimated that all the gold ever mined totaled 165,000 tonnes. This can be represented by a cube with an edge length of about 20.28 meters. At $1,600 per troy ounce, 165,000 metric tonnes of gold would have a value of $8.5 trillion.

    You see there isn't enough to back the amount of money supposedly circulating so its price will have to rise to record amounts in order to get at least closer to be able to back currencies
    There are two values for billion, but even with the short one that is well over 1200 dollars per human being,(gold is about that right now) not as figures on a balance or bonds or shares, but as cash, what percentage of the worlds population have 1200 dollars in cash right now (every man, woman & child ) ?

    How many even have 1200 $ in a bank ?

    It's mind boggling stuff, but bear in mind that shares are also legitimate, ( if done properly ), and land, buildings & materiel all have value too, so the cash currency would only be a means of exchange, because the net worth of all things cannot be reduced to the total cash in circulation, and not all things are for sale at any one time.

    There are some big questions here, one of which is how much gold is there & where is it ?

    Fort Knox is supposed to be empty, other gold deposits seem to have vanished too, what about the gold that "disappeared" on 9/11 & the gold the Germans want back from the US that is not happening.

    Then there are the highly secretive Chinese state owned gold mines & reserves, .....& then there is the Dragon Family...

    Personally I'm not decided about the Dragon Family either way & nothing would surprise me, my head says "pfft", but my heart says it has to be true & real positive change is coming

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    Probably very nave on my part, but I have never understood all this fuss about whether money is backed by gold or not. . . Gold, silver, paper dollars, seashells . . . .it's all just worth what we agreed upon.

    If and when this all crashes, gold is only going to be as valuable as what we decide it's worth. What the heck can most of us do with gold?? . . during a depression what will really be of value is your ability to grow food or create something that helps us grow food or build abodes or make clothes.

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    Nope not nave at all. I for one agree with the idea that it's just an agreement and that we cannot eat gold.
    There are some differences though in how money that is backed by something like gold, or macademian nuts for instance as opposed to money that is backed by debt(the agreement of future labour)

    The idea of valuable tokens though is so deeply imprinted in the consciousness of most people these days that it is impossible to stop using such tokens without many people going in to full panic mode i fear. I hope i'm wrong about that.

    The BRICS nations and the newly created New Development Bank hopefully is a step in a direction where those that have developed the system of western finance will have to take a step down. I hope that the NDB will somehow by breaking the IMF monopoly be able to help create a fairer distribution of funds. Although at the moment all figures I see are still in US dollars.

    As I understand it there is a reserve pool of 50 billion dollar, and the promise to guarantee 50 Billion more. for a total of 100 Billion. That money will be used to saveguard the BRICS nations from having to much setbacks in developing their economies if the IMF starts to fail or break down. Even though the OP talks about an equal share for all countries this applies only for the first 50 billion as I understand it. The rest is guaranteed as followed. SA 5B, Rus,Braz,Ind 18B and China 41 B.

    The counties will not have a veto right and some more countries are lining up to join.
    I am not sure how all this is backed and which financial system or even trickery will make sure the NDB will follow in the IMF's footsteps.
    I can only hope they will be less ruthless than the IMF ever was.

    With Love
    Eelco
    Have a great day today

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    Quote Originally posted by BabaRa View Post
    Probably very nave on my part, but I have never understood all this fuss about whether money is backed by gold or not. . . Gold, silver, paper dollars, seashells . . . .it's all just worth what we agreed upon.

    If and when this all crashes, gold is only going to be as valuable as what we decide it's worth. What the heck can most of us do with gold?? . . during a depression what will really be of value is your ability to grow food or create something that helps us grow food or build abodes or make clothes.
    during the great depression a good strata of population carried on to live handsomely, even better..at the same time that class dampened the price of gold for those who possessed only family jewlery.

    about eat or not eat gold, try and imagine this situation: you are on your own piece of land, on your own farm and need no gold or money to survive because you produce your own food. now think about those not as lucky to own means of food production, but possess guns instead.. what do you think they would do?

    you do need to have a relatively prosperous society for violence to be subdued to minority cases.. then you could argue that money and any other intermediary agent for value exchange is unnecessary.
    Last edited by Elbie, 22nd February 2015 at 21:04.

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    Quote Originally posted by Elbie View Post

    about eat or not eat gold, try and imagine this situation: you are on your own piece of land, on your own farm and need no gold or money to survive because you produce your own food. now think about those not as lucky to own means of food production, but possess guns instead.. what do you think they would do?
    In my world the farmers would be armed as well. Immune system duties have to be shared. Pathogens will not thrive in a healthy world. Freedom and vigilance go together. Self-defense is just a what-so in a real world.
    "To learn who rules over you simply find out who you are not allowed to criticize" -- Voltaire

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    Quote Originally posted by modwiz View Post
    In my world the farmers would be armed as well. Immune system duties have to be shared. Pathogens will not thrive in a healthy world. Freedom and vigilance go together. Self-defense is just a what-so in a real world.
    i don't dislike the idea at all. i would still argue that in such organisation the society would become stratified or sanitised. pathogens/psycho sickos would need to be cut off literally.

    it would seamlessly fit Us society, not Eu where guns carrying was/is not on the cards . unless you wanna go illlegal.

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