Guest Thallasa Posted September 20, 2015 Share Posted September 20, 2015 After the financial crisis of 2008 we saw the Group of 20 formed. This group was set up to help solve the financial difficulties of the world system. At that time they decided to up grade the FSF (Financial Stability Forum) to a legal board – FSB, the Financial Stability Board. This enabled this institution to make great changes across the system by introducing certain rules & regulations that financial institutions would have to follow. Also at that time the G 20 wanted to upgrade the IMF (International Monetary Fund), but it wasn`t the right time. Certain other factors needed to come into play – the US`s dollar needed to lose its strong hold on the global system & China needed to be more locked into the system. Over the past few years we have seen the US`s debt rise to $18 trillion, with $10 million every minute. Obviously this is not repayable. The US`s dollar is becoming increasingly a `hot potato,` & everyone wants to get rid of them. The BRIC`s (Brazil, Russia, India & China) has formed their own financial group, & Russia is even passing a law formally dumping the US dollar. Then we read of China`s recent financial fall, its economic downturn. Thus I believe the time is ripe for the IMF to be upgraded & take over the responsibility of being the Global System`s reserve currency. Now how will they be empowered to do this. Well, at the moment they have a basket of currencies – UK, USA, Europe & Japan, (pound, dollar, euro, yen) but soon I believe China will also be involved with its Yuan, & then we`ll see the major economies of the world come together. Apparently this will be announced on October 20th this year by the IMF, as a reserve currency alternative to the US dollar. Experts say that this will send hundreds of billions of dollars moving around the world, literally overnight. This announcement is expected to trigger one of the most profound transfers of wealth in our lifetime. This decision comes on the heels of China pushing for their own currency to be elevated to reserve currency status. So this, I believe will transform the financial landscape dramatically. Once the IMF currency becomes alternative to the dollar, rules of the game begin to change. The announcement will start a domino effect that brings down the US dollar`s dominance & will devalue the dollar. No one will want US dollars & they will no longer be accepted for trade. If this happens, which I believe it will, then, are we ready for this global change that will affect us all? Marilyn. Thankyou for this post .I am not too interested in finance on a daily basis ,but would appreciate a word on how this would affect the euro if it happens . In my opinion it's really hard to know exactly what's going to happen. For what it's worth my advice is, if you have savings, to diversify them into different things like some local currency, some gold and/or silver, some other stable currencies like SF, etc. You might lose a little in the deal but in my opinion it's worth it to have a bit of a safety net even if you never need it. And try to have at least a few weeks or a month's stock of food and supplies. And most of all trust the Lord and His promises to keep us through any trial. 1Peter 4:12-13 Thank you Marilyn ,you are very kind . Will take advice ,and depend on the Lord for the rest . Link to comment Share on other sites More sharing options...
toknowthetruth Posted September 20, 2015 Group: Junior Member Followers: 0 Topic Count: 2 Topics Per Day: 0.00 Content Count: 81 Content Per Day: 0.03 Reputation: 55 Days Won: 0 Joined: 08/30/2015 Status: Offline Share Posted September 20, 2015 (edited) After the financial crisis of 2008 we saw the Group of 20 formed. This group was set up to help solve the financial difficulties of the world system. At that time they decided to up grade the FSF (Financial Stability Forum) to a legal board – FSB, the Financial Stability Board. This enabled this institution to make great changes across the system by introducing certain rules & regulations that financial institutions would have to follow. Also at that time the G 20 wanted to upgrade the IMF (International Monetary Fund), but it wasn`t the right time. Certain other factors needed to come into play – the US`s dollar needed to lose its strong hold on the global system & China needed to be more locked into the system. Over the past few years we have seen the US`s debt rise to $18 trillion, with $10 million every minute. Obviously this is not repayable. The US`s dollar is becoming increasingly a `hot potato,` & everyone wants to get rid of them. The BRIC`s (Brazil, Russia, India & China) has formed their own financial group, & Russia is even passing a law formally dumping the US dollar. Then we read of China`s recent financial fall, its economic downturn. Thus I believe the time is ripe for the IMF to be upgraded & take over the responsibility of being the Global System`s reserve currency. Now how will they be empowered to do this. Well, at the moment they have a basket of currencies – UK, USA, Europe & Japan, (pound, dollar, euro, yen) but soon I believe China will also be involved with its Yuan, & then we`ll see the major economies of the world come together. Apparently this will be announced on October 20th this year by the IMF, as a reserve currency alternative to the US dollar. Experts say that this will send hundreds of billions of dollars moving around the world, literally overnight. This announcement is expected to trigger one of the most profound transfers of wealth in our lifetime. This decision comes on the heels of China pushing for their own currency to be elevated to reserve currency status. So this, I believe will transform the financial landscape dramatically. Once the IMF currency becomes alternative to the dollar, rules of the game begin to change. The announcement will start a domino effect that brings down the US dollar`s dominance & will devalue the dollar. No one will want US dollars & they will no longer be accepted for trade. If this happens, which I believe it will, then, are we ready for this global change that will affect us all? Marilyn. Thankyou for this post .I am not too interested in finance on a daily basis ,but would appreciate a word on how this would affect the euro if it happens . In my opinion it's really hard to know exactly what's going to happen. For what it's worth my advice is, if you have savings, to diversify them into different things like some local currency, some gold and/or silver, some other stable currencies like SF, etc. You might lose a little in the deal but in my opinion it's worth it to have a bit of a safety net even if you never need it. And try to have at least a few weeks or a month's stock of food and supplies. And most of all trust the Lord and His promises to keep us through any trial. 1Peter 4:12-13 Thank you Marilyn ,you are very kind . Will take advice ,and depend on the Lord for the rest . Sorry Marilyn, guess I should have let you answer that one. Hope you don't mind. Edited September 20, 2015 by toknowthetruth Link to comment Share on other sites More sharing options...
Marilyn C Posted September 20, 2015 Group: Worthy Ministers Followers: 30 Topic Count: 267 Topics Per Day: 0.07 Content Count: 13,223 Content Per Day: 3.49 Reputation: 8,506 Days Won: 12 Joined: 12/21/2013 Status: Offline Birthday: 10/06/1947 Author Share Posted September 20, 2015 (edited) Hi toknowthetruth,You wrote some good advice there & if I wanted to I could add, but I think you did well. Hi Thallasa,It was toknowthetruth, that gave you that good advice. As to how it will effect the euro, I think it will benefit as finance moves from US dollars to safer ground. The euro will actually do better even though we have seen the Greek tragedy (!) it really was a `play` about getting the noose tighter on Greece`s & other`s fiscal operations. The EU central control wants more & more power & control over the EU states & that was what the great drama was all about.Oh, I just realised that you live in Europe. So you probably would be able to give us some info, perhaps as it happens.Another thing, I personally wouldn`t buy gold as you only get a certificate & apparently at the moment because of the rush on gold & silver there really is not enough gold to back those certificates. Interesting!Blessings, Marilyn. Edited September 20, 2015 by Marilyn C Link to comment Share on other sites More sharing options...
toknowthetruth Posted September 21, 2015 Group: Junior Member Followers: 0 Topic Count: 2 Topics Per Day: 0.00 Content Count: 81 Content Per Day: 0.03 Reputation: 55 Days Won: 0 Joined: 08/30/2015 Status: Offline Share Posted September 21, 2015 (edited) Hi toknowthetruth,You wrote some good advice there & if I wanted to I could add, but I think you did well. Hi Thallasa,It was toknowthetruth, that gave you that good advice. As to how it will effect the euro, I think it will benefit as finance moves from US dollars to safer ground. The euro will actually do better even though we have seen the Greek tragedy (!) it really was a `play` about getting the noose tighter on Greece`s & other`s fiscal operations. The EU central control wants more & more power & control over the EU states & that was what the great drama was all about.Oh, I just realised that you live in Europe. So you probably would be able to give us some info, perhaps as it happens.Another thing, I personally wouldn`t buy gold as you only get a certificate & apparently at the moment because of the rush on gold & silver there really is not enough gold to back those certificates. Interesting!Blessings, Marilyn.FYI in the US you can buy gold coins/bars at a jeweler or online and get them delivered to your house or to a safe deposit box of your choice. Don't know what the situation is in Europe but I'm sure you can get gold coins which have a little higher premium than gold bars, but I think you can get gold bars as well. The premium in the US is @ $30 per oz for bars and $40 for gold coins. Edited September 21, 2015 by toknowthetruth Link to comment Share on other sites More sharing options...
other one Posted September 21, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 598 Topics Per Day: 0.08 Content Count: 56,171 Content Per Day: 7.56 Reputation: 27,900 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 21, 2015 a lot of financial people are recommending silver instead of gold..... Link to comment Share on other sites More sharing options...
Marilyn C Posted September 21, 2015 Group: Worthy Ministers Followers: 30 Topic Count: 267 Topics Per Day: 0.07 Content Count: 13,223 Content Per Day: 3.49 Reputation: 8,506 Days Won: 12 Joined: 12/21/2013 Status: Offline Birthday: 10/06/1947 Author Share Posted September 21, 2015 Hi toknowthetruth,Thank you for that info. The information that I received was to do with gold bars so I didn`t make that clear. Thanks again.Marilyn. Link to comment Share on other sites More sharing options...
other one Posted September 21, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 598 Topics Per Day: 0.08 Content Count: 56,171 Content Per Day: 7.56 Reputation: 27,900 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 21, 2015 Hi toknowthetruth,You wrote some good advice there & if I wanted to I could add, but I think you did well. Hi Thallasa,It was toknowthetruth, that gave you that good advice. As to how it will effect the euro, I think it will benefit as finance moves from US dollars to safer ground. The euro will actually do better even though we have seen the Greek tragedy (!) it really was a `play` about getting the noose tighter on Greece`s & other`s fiscal operations. The EU central control wants more & more power & control over the EU states & that was what the great drama was all about.Oh, I just realised that you live in Europe. So you probably would be able to give us some info, perhaps as it happens.Another thing, I personally wouldn`t buy gold as you only get a certificate & apparently at the moment because of the rush on gold & silver there really is not enough gold to back those certificates. Interesting!Blessings, Marilyn.FYI in the US you can buy gold coins/bars at a jeweler or online and get them delivered to your house or to a safe deposit box of your choice. Don't know what the situation is in Europe but I'm sure you can get gold coins which have a little higher premium than gold bars, but I think you can get gold bars as well. The premium in the US is @ $30 per oz for bars and $40 for gold coins.http://www.jmbullion.com/silver/?gclid=CjwKEAjw1f6vBRC7tLqO_aih5WISJAAE0CYwiN4qVzj16KW82L0bqPn9AXRKgGR43gi47Wuor9yAlhoCxUTw_wcB Link to comment Share on other sites More sharing options...
toknowthetruth Posted September 21, 2015 Group: Junior Member Followers: 0 Topic Count: 2 Topics Per Day: 0.00 Content Count: 81 Content Per Day: 0.03 Reputation: 55 Days Won: 0 Joined: 08/30/2015 Status: Offline Share Posted September 21, 2015 Hi toknowthetruth, You wrote some good advice there & if I wanted to I could add, but I think you did well. Hi Thallasa, It was toknowthetruth, that gave you that good advice. As to how it will effect the euro, I think it will benefit as finance moves from US dollars to safer ground. The euro will actually do better even though we have seen the Greek tragedy (!) it really was a `play` about getting the noose tighter on Greece`s & other`s fiscal operations. The EU central control wants more & more power & control over the EU states & that was what the great drama was all about. Oh, I just realised that you live in Europe. So you probably would be able to give us some info, perhaps as it happens. Another thing, I personally wouldn`t buy gold as you only get a certificate & apparently at the moment because of the rush on gold & silver there really is not enough gold to back those certificates. Interesting! Blessings, Marilyn. FYI in the US you can buy gold coins/bars at a jeweler or online and get them delivered to your house or to a safe deposit box of your choice. Don't know what the situation is in Europe but I'm sure you can get gold coins which have a little higher premium than gold bars, but I think you can get gold bars as well. The premium in the US is @ $30 per oz for bars and $40 for gold coins. http://www.jmbullion.com/silver/?gclid=CjwKEAjw1f6vBRC7tLqO_aih5WISJAAE0CYwiN4qVzj16KW82L0bqPn9AXRKgGR43gi47Wuor9yAlhoCxUTw_wcB Thanks other one. There are several online dealers. As far as I can tell it's a safe and convenient way to go about it. I would just make sure to do my research into which one to use and have a good understanding of how they operate and be comfortable with the process before ordering online. Link to comment Share on other sites More sharing options...
other one Posted September 21, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 598 Topics Per Day: 0.08 Content Count: 56,171 Content Per Day: 7.56 Reputation: 27,900 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 21, 2015 Hi toknowthetruth, You wrote some good advice there & if I wanted to I could add, but I think you did well. Hi Thallasa, It was toknowthetruth, that gave you that good advice. As to how it will effect the euro, I think it will benefit as finance moves from US dollars to safer ground. The euro will actually do better even though we have seen the Greek tragedy (!) it really was a `play` about getting the noose tighter on Greece`s & other`s fiscal operations. The EU central control wants more & more power & control over the EU states & that was what the great drama was all about. Oh, I just realised that you live in Europe. So you probably would be able to give us some info, perhaps as it happens. Another thing, I personally wouldn`t buy gold as you only get a certificate & apparently at the moment because of the rush on gold & silver there really is not enough gold to back those certificates. Interesting! Blessings, Marilyn. FYI in the US you can buy gold coins/bars at a jeweler or online and get them delivered to your house or to a safe deposit box of your choice. Don't know what the situation is in Europe but I'm sure you can get gold coins which have a little higher premium than gold bars, but I think you can get gold bars as well. The premium in the US is @ $30 per oz for bars and $40 for gold coins. http://www.jmbullion.com/silver/?gclid=CjwKEAjw1f6vBRC7tLqO_aih5WISJAAE0CYwiN4qVzj16KW82L0bqPn9AXRKgGR43gi47Wuor9yAlhoCxUTw_wcB Thanks other one. There are several online dealers. As far as I can tell it's a safe and convenient way to go about it. I would just make sure to do my research into which one to use and have a good understanding of how they operate and be comfortable with the process before ordering online. i use these folks to purchase most of my silver (not that I have a whole lot of it LoL) Link to comment Share on other sites More sharing options...
Marilyn C Posted October 21, 2015 Group: Worthy Ministers Followers: 30 Topic Count: 267 Topics Per Day: 0.07 Content Count: 13,223 Content Per Day: 3.49 Reputation: 8,506 Days Won: 12 Joined: 12/21/2013 Status: Offline Birthday: 10/06/1947 Author Share Posted October 21, 2015 (edited) Update – Chinese yuan on track to be included in IMF basket: HSBC by Reuters 20 Oct. 2015. LONDON: China`s yuan “ ticks all the right boxes” for inclusion in the International Monetary Fund`s SDR list of global reserve currencies, the biggest international bank in China, HSBC said in a report on Tuesday. The report by the bank`s chief strategist Paul Mackel comes ahead of discussions within the Fund next month on whether to include the yuan, or renminbi in the basket behind the Special Drawing Rights, a virtual currency that values IMF reserves & emergency payouts to members…….. Beijing has made steady progress on moves to widen the yuan`s use internationally. Sources told Reuters earlier this week that Beijing would soon extend trading of the yuan in China to overlap with European trading hours, encouraging more use of the yuan & supporting its case with the IMF…… Looks like we`ll have to wait another month to see the effect on the US Dollar & the financial markets world wide. Marilyn. Edited October 21, 2015 by Marilyn C Link to comment Share on other sites More sharing options...
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