Acabar con monedas reserva y el control financiero centralizado

September 21, 2012 Leave a comment

POR LUIS MIRANDA | THE REAL AGENDA | 21 SEPTIEMBRE 2012

Durante muchos años, los Estados Unidos ha disfrutado de una ventaja injusta con respecto al resto del mundo: casi todo el comercio internacional se realiza en dólares estadounidenses. Tanto amigos como enemigos de los EE.UU. han tenido que comprar materias primas, partes, productos terminados, pagar aranceles y tasas de cambio en dólares debido a que el mundo aceptó la moneda estadounidense como un instrumento fuertemente posicionado respaldado por el poderío económico y militar de ese país norteamericano.

El resultado de tener una moneda de reserva, tanto para los EE.UU. como para el resto del mundo es claro: los estadounidenses han disfrutado de décadas de abundancia, en gran parte porque casi todo lo que es necesario para vivir se ha comprado y pagado en dólares estadounidenses. Desde el petróleo hasta los alimentos básicos, los países y las empresas utilizan el dólar de EE.UU. para completar transacciones comerciales.

Pero la abundancia de los estadounidenses no fue la única consecuencia — u objetivo, dependiendo de cómo se vea. Debido a que el dólar de EE.UU. fue la moneda de reserva del mundo, su valor se mantuvo artificialmente alto. Personas, empresas y otros países compraron dólares para usarlos en sus actividades diarias, tales como gastos de viaje, intercambio de divisas en transacciones de pequeños y grandes volúmenes.

El valor de la moneda, especialmente una ‘fiat’ como lo es el dólar de EE.UU., es artificial, ya que después de que el banco central decide imprimir dinero más allá de lo que un país produce — PIB — con el fin de promover una economía basada en la deuda, es sólo una cuestión de tiempo antes de que las ruedas del camión se aflojen. En el caso de los Estados Unidos, tres de las cuatro ruedas ya han caído. La moneda de EE.UU. ha sido hiper-inflado de forma controlada desde la creación de la Reserva Federal, que es el mismo sistema de poder centralizado utilizado en casi todos los países, no importa si es desarrollado, en desarrollo o subdesarrollados.

Hoy en día, el valor del dólar, el euro, el peso o el real no representan la capacidad de un país para producir, innovar y vender productos en los mercados locales, regionales e internacionales a través de acuerdos bilaterales o multilaterales. El valor de las monedas es fijado por las instituciones bancarias y luego libremente manipulado por los mercados artificialmente administrados, y no por el verdadero capitalismo de libre mercado.

El tipo de “contrato comercial” que ayudó a los EE.UU. a establece su moneda como “moneda de reserva mundial” y que proporcionó la ventaja injusta frente a sus socios comerciales y competidores está llegando a su fin. El surgimiento de China como uno de los mayores productores — a través de procedimientos y normas cuestionables por decir lo menos — junto con la posición económica débil de Estados Unidos en el escenario mundial, ha llevado a los países a buscar formas alternativas de completar transacciones comerciales que hacen no utilizar dólares estadounidenses.

Aquellos que compiten con Estados Unidos, especialmente los que prestan dinero al país, se dieron cuenta de que Estados Unidos probablemente irá a la banca rota debido a los niveles de deuda que tiene, lo que abonado a una moneda devaluada que no valdrá mucho, les ha hecho utilizar sus propias monedas en lugar del dólar de EE.UU..

Por ejemplo, China y Rusia han cerrado varios acuerdos para realizar transacciones comerciales en sus propias monedas, en lugar de usar  dólares. Los chinos y los rusos, al parecer, se enteraron de que mediante el uso del yuan y el rublo, no están solamente valorizando sus monedas, pero también evitan pagar el “impuesto de dólar”, o el costo de tener que comprar y vender en dólares estadounidenses, lo que les había mantenido en una situación de desventaja competitiva frente a su rival comercial y militar.

La devaluación del dólar debido a la manipulación bancaria llevada a cabo por la Reserva Federal o el debilitamiento de la moneda en los mercados internacionales, es una mala noticia para el pueblo estadounidense, ya que significa que si el dólar no puede mantener su estatus de moneda reserva, todo va a ser más caro para ellos: materias primas, alimentos, energía, tipos de interés, etc, pero peor que todo eso es que la demanda de dólares estadounidenses en el mundo se reducirá significativamente, lo que en sí mismo hará que el dólar sea menos atractivo para comercializar bienes y servicios.

La pérdida de valor de la moneda estadounidense también agravará otro problema: la deuda de EE.UU.. El país ha sido durante mucho tiempo la mejor nación deudora del mundo, porque sus prestamistas pensaron que al tener la moneda reserva del mundo les garantizaría que los préstamos serían pagados en su totalidad. Pero ahora, la realidad muestra lo contrario.

La caída del dólar de su pedestal de  “moneda reserva mundial” también hará que sea más caro para EE.UU. pagar su deuda actual, así como la deuda que en la que va a incurrir en los próximos años y décadas. Cuanto más débil es el dólar, más caro se vuelve para los EE.UU. pagar sus deudas. Este escenario se ve ahora en España, Grecia, Italia y Portugal, que han entregado su soberanía a las instituciones bancarias extranjeras a cambio de “rescates financieros”.

Aunque la sabiduría popular sugiere que el endeudamiento de EE.UU. con China sería la peor situación posible mientras que el dólar declina, en realidad hay un escenario peor y este no incluye a China. El prestamista principal de EE.UU. no es más China, sino el Sistema Bancario Centralizado, representado por la Reserva Federal, una institución privada que vela por los intereses de un consorcio bancario internacional con sede en el extranjero, no en los Estados Unidos.

La mafia bancaria continuará prestando voluntariamente a los EE.UU. porque toda la deuda creada por la Reserva Federal en nombre de los Estados Unidos y su pueblo siempre tiene una manera de ser pagada. Los Estados Unidos, al igual que muchos otros países en el mundo hipoteca la vida de las personas presentes y futuras cobrándoles impuestos hasta el día de su muerte para pagar intereses sobre la creciente deuda.

Esta “confianza” que las instituciones bancarias tienen en los Estados Unidos y otras naciones sólo puede romperse si el dólar falla como la moneda reserva mundial. Es por eso que los banqueros europeos han creado monedas paralelas como el euro, el cual también pretenden colapsar el fin de establecer una especie de forma electrónica de comercio.

Al mismo tiempo, y mientras sea posible, individuos poderosos que han hecho sus fortunas a través de prácticas engañosas, como George Soros, así como otros gobiernos, han comenzado una carrera para deshacerse de sus reservas en dólares — un hecho que también debilita la moneda norteamericana — para invertir en oro, metales raros plata y otros instrumentos valiosos. La venta de fondos en dólares a otras monedas, metales preciosos o materias primas amenaza con acelerar la caída de la moneda reserva mundial aún más, como sucede con cualquier otro producto que deja de ser consumido.

La caída del dólar ha envalentonado a países como China para considerar seriamente dejar que su moneda fluctúe libremente en el mercado abierto. Esta práctica está programada para comenzar en 2015 y continuará hasta el año 2017. Los chinos apuestan a que en 2015 el dólar va a estar lo suficientemente para no poder competir directamente con el Yuan.

Pero en un mundo financiero donde casi todo es falso, no hay ninguna razón para creer que el gobierno de Estados Unidos o las instituciones bancarias que su gobierno representa no se van a plantear una manera de ralentizar o detener el colapso de su moneda. Muchos expertos financieros esperan lo contrario, sin embargo. Algunos de ellos incluso creen que el colapso del dólar va a pasar en algún momento entre el invierno de 2012 y la primavera de 2013.

Si hay una cosa que el mundo ha aprendido que naciones independientes que establecen acuerdos comerciales de manera bilateral o multilateral, están en mejor situación que aquellas que son prisioneras de una moneda común con un sistema de poder financiero centralizado. La única razón por la que el mundo está dominado por una moneda común y las llamadas Uniones Políticas y Comerciales, es porque esos esquemas facilitan controles monopólicos, que es lo que la mafia bancaria internacional busca tener.

El euro es un claro ejemplo de cómo un monopólio funciona perfectamente cuando un grupo de oligarcas tiene la intención de crear economías artificialmente para luego colapsarlas y así consolidar poder. Para los miembros de esa oligarquía el sistema funciona muy bien. Para el resto de nosotros, es mejor acabar con monedas reserva que proporcionan ventajas injustas, así como el poder centralizado que sólo rinde beneficios para la élite anglo-sajóna.

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Do away with Reserve Currencies and Centralized Financial Control

September 13, 2012

By LUIS MIRANDA | THE REAL AGENDA | SEPTEMBER 13, 2012

For way too many years, the United States has enjoyed an unfair advantage with respect to the rest of the world: most international commerce is conducted in US dollars. Both friends and foes of the US have had to purchase raw materials, parts, finished products, pay tariffs and exchange rates in dollars because the world saw the American currency as a strongly positioned instrument that was backed by the economic and military might of the United States.

The result of having a reserve currency, both for the US and for the rest of the world is clear: Americans have enjoyed decades of bounty because almost anything that is necessary to live is paid for and purchased in US dollars. From crude oil to food staples, countries and companies use the US dollar to complete most commercial transactions. But the bounty for Americans was not the only consequence — or goal, depending how you see it. Because the US dollar was the reserve currency of the world, its value was kept artificially high. People, companies and other countries bought US dollars to use them in their daily activities such as traveling expenses, for example.

The value of the currency, especially a fiat one like the US dollar is artificial because after the central bank decides to print money beyond what a country produces — GDP — in order to run a debt-based economy, it is just a matter of time before the wheels of the truck come off. In the case of the United States, three and a quarter of the four wheels have already fallen off. The US currency has been hyper-inflated in a controlled manner since the creation of the Federal Reserve System, which is the same system of centralized power used in almost every single nation in the world; no matter if it’s a developed, developing or underdeveloped country.

Today, the value of the dollar, the Euro, the Peso or the Real do not represent the capacity of a country to produce, innovate and sell goods in local, regional or international markets through bilateral or multilateral agreements. The value of currencies is set by banking institutions and then freely manipulated by artificially-managed markets, not real capitalism or free markets.

The kind of “commercial contract” that helped the US to sets its currency as the “world reserve currency” and that provided the unfair advantage against its business partners and competitors is now reaching its end. The rise of China as one of the largest producers of finished products — through questionable standards to say the least — along with the economically weaker position of the United States in the world stage, has prompted nations to seek alternative forms of completing commercial transactions that do not use US dollars. United States competitors, especially those who lend money to the country, realized that the United States will most likely default on its debt or will simply pay with a devalued currency which will not be worth much, so they’ve decided to use their own currencies instead of the US dollar.

For example, China and Russia have closed several agreements to realize commercial transactions in their own currency as supposed to using dollars. The Chinese and the Russians, it seems, learned that by using the Yuan and the Ruble, they are not only valuing their currencies, but are also avoiding to pay the “dollar tax”, or the cost of having to buy and sell in US dollars, which had kept them in a competitive disadvantage against their commercial and military foe.

The devaluation of the dollar due to banking manipulation conducted by the Federal Reserve or the weakening of the currency in international markets — is bad news for the US and the American people, because it means that if the dollar fails to keep its status as the reserve currency, everything will be more expensive for them: raw materials, food, energy, interest rates, etc. But worse than all of that is that the demand for US dollars in the world will significantly decrease, which in itself will turn the dollar into a less attractive way to pay for and sell goods and services.

The loss in value of the American currency will also worsen another problem: the US debt. The US has been for a long time the best debtor nation in the world, for its lenders thought that since the country had the world’s reserve currency would guarantee that their loans would be paid in full. But now, reality shows otherwise. The fall of the US dollar from the pedestal of “world reserve currency” will also make it more expensive for the US to pay its current debt as well as the debt it will incur into in the coming years and decades. The weaker the dollar is, the more expensive it becomes for the US to pay its debts. This scenario is now seen in Spain, Greece, Italy and Portugal, who have handed their sovereignty to foreign banking institutions in exchange for “financial rescues”.

Although common wisdom would suggest that US indebtedness with China would be the worst possible situation while the dollar declines, there is actually a worse scenario and it does not involve China. The US main lender is not China anymore, but the Federal Reserve Banking System, a private institution that represents the interests of an international banking consortium located abroad, not in the United States.

The banking mafia will continue to willingly lend to the US because all debt created by the Federal Reserve in the name of the United States and its people will always have a way to be paid. The United States, just as many other countries in the world do, mortgage the lives of present and future people by taxing them to death in order to pay interests on the ever exploding debt. This ‘trust’ that the banking institutions have in the United States and other nations can only be broken if the US dollar fails as the world reserve currency. That is why the European bankers have created parallel fiat currencies such as the Euro, which they also intend to collapse in order to establish a sort of electronic untraceable form of currency.

At the same time and while it is still possible, wealthy individuals who have made their fortunes through deceitful practices, such as George Soros, as well as governments have begun a race to get rid of their dollar reserves — a fact that also weakens the US currency — and invest in gold, rare metals, silver and other valuable instruments. The divestment of funds from US dollars to other currencies or valuable metals or materials threatens to accelerate the fall of the once strong world reserve currency.

The decline of the US dollar has emboldened countries like China to seriously consider letting its currency fluctuate freely in the open market. This practice is set to begin at some point in 2015 and will continue until 2017, the Chinese have said. Do the Chinese feel that by 2015 the dollar will be weak enough that it won’t be able to directly compete with the Yuan? Perhaps. But in a financial world where almost everything is fake, there is no reason to believe that the American government or the banking institutions that it represents will not come up with a way to slow down or stop the collapse of its currency. Many financial experts expect the opposite, though. Some of them even believe that the collapse of the dollar will happen some time between the Winter of 2012 and the Spring of 2013.

If there is one thing the world has learned is that independent nation-states that establish commercial agreements in a bilateral or multilateral fashion are better off that those which are prisoners of a common currency with a centralized financial power system. The only reason why the world is dominated by common currencies and so-called unions is because those schemes facilitate monopolies and control, which is what the international banking mafia wants. The Euro is a clear example of how monopoly works perfectly well when a group of oligarchs intends to artificially create economies to later collapse them so that they can consolidate power. It works beautifully. For the rest of us, let’s do away with reserve currencies that provide unfair advantages as well as centralized power that only renders benefits for the Anglo-Saxon power elite.

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Currency Wars and the Dollar Dropping Hegemony

November 3, 2010

London Telegraph

Image: Daryl Cagle

As the US Federal Reserve meets today to decide whether its next blast of quantitative easing should be $1 trillion or a more cautious $500bn, it does so knowing that China and the emerging world view the policy as an attempt to drive down the dollar.

The Fed’s “QE2″ risks accelerating the demise of the dollar-based currency system, perhaps leading to an unstable tripod with the euro and yuan, or a hybrid gold standard, or a multi-metal “bancor” along lines proposed by John Maynard Keynes in the 1940s.

China’s commerce ministry fired an irate broadside against Washington on Monday. “The continued and drastic US dollar depreciation recently has led countries including Japan, South Korea, and Thailand to intervene in the currency market, intensifying a ‘currency war’. In the mid-term, the US dollar will continue to weaken and gaming between major currencies will escalate,” it said.

David Bloom, currency chief at HSBC, said the root problem is lack of underlying demand in the global economy, leaving Western economies trapped near stalling speed. “There are no policy levers left. Countries are having to tighten fiscal policy, and interest rates are already near zero. The last resort is a weaker currency, so everybody is trying to do it,” he said.

Pious words from G20 summit of finance ministers last month calling for the world to “refrain” from pursuing trade advantage through devaluation seem most honoured in the breach.

Taiwan intervened on Monday to cap the rise of its currency, while Korea’s central bank chief said his country is eyeing capital controls as part of its “toolkit” to stem the flood of Fed-created money leaking out of the US and sloshing into Asia. Brazil has just imposed a 2pc tax on inflows into both bonds and equities – understandably, since the real has risen by 35pc against the dollar this year and the country has a current account deficit.

“It is becoming harder to mop up the liquidity flowing into these countries,” said Neil Mellor, of the Bank of New York Mellon. “We fully expect more central banks to impose capital controls over the next couple of months. That is the world we live in,” he said. Globalisation is unravelling before our eyes.

Each case is different. For the 40-odd countries pegged to the dollar or closely linked by a “dirty float”, the Fed’s lax policy is causing havoc. They are importing a monetary policy that is far too loose for the needs of fast-growing economies. What was intended to be an anchor of stability has become a danger.

Hong Kong’s dollar peg, dating back to the 1960s, makes it almost impossible to check a wild credit boom. House prices have risen 50pc since January 2009, despite draconian curbs on mortgages. Barclays Capital said Hong Kong may switch to a yuan peg within two years.

Mr Bloom said these countries are under mounting pressure to break free from the dollar. “They are all asking themselves whether these pegs are a relic of the past,” he said.

China faces a variant of the problem with its mixed currency basket, a sort of “crawling peg”. Commerce minister Chen Deming said last week that US dollar issuance is “out of control”. It is causing a surge of imported inflation in China.

Critics in the US Congress say China could solve that particular problem very quickly by letting the yuan rise enough to bring the country’s $180bn trade surplus into balance.

They say the strategy of holding down the yuan to underpin China’s export-led model is the real source of galloping wage and price inflation on China’s eastern seaboard. The central bank has accumulated $2.5 trillion of foreign bonds but lacks the sophisticated instruments to “sterilise” these purchases and stem inflationary “blow-back”.

But whatever the rights and wrongs of the argument, the reality is that a chorus of Chinese officials and advisers is demanding that China switch reserves into gold or forms of oil. As this anti-dollar revolt gathers momentum worldwide, the US risks losing its “exorbitant privilege” of currency hegemony – to use the term of Charles de Gaulle.

The innocent bystanders caught in the crossfire of Fed policy are poor countries such as India, where primary goods make up 60pc of the price index and food inflation is now running at 14pc. It is hard to gauge the impact of a falling dollar on commodities, but the pattern in mid-2008 was that it led to oil, metal, and grain price rises with multiple leverage. The core victims were the poorest food-importing countries in Africa and South Asia. Tell them that QE2 brings good news.

So the question that Ben Bernanke and his colleagues should ask themselves is whether they have thought through the global ramifications of their actions, and how the strategic consequences might rebound against America itself.

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