The Fed is dead, maybe by 2012

Quote from MohdSalleh:

The mayans were right
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You know....I actually think 2012 will be worse then Y2K. At least with Y2K we (the world) were battling a manageable entity...computers and software with date problems. With 2012 we cannot change what is going to happen in the physical world. I am NOT saying that natural disasters will definitely happen in 2012, but I am saying that humankind's actions and reactions to PERCEIVED disasters is unmanageable.

-gastropod
 
He is correct -- the Fed won't exist in however many years because it's going to be replaced, or morphed, into an International Central Bank, bigger and strong than the IMF. A one-world economy is already here, GAAP is disappearing and being replaced by international accounting standards so it's not difficult to conclude that the groundwork is being laid for an International Central Bank. A one-world currency is right around the corner.
 
He is correct -- the Fed won't exist in however many years because it's going to be replaced, or morphed, into an International Central Bank, bigger and strong than the IMF. A one-world economy is already here, GAAP is disappearing and being replaced by international accounting standards so it's not difficult to conclude that the groundwork is being laid for an International Central Bank. A one-world currency is right around the corner.
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I would have to agree somewhat, as I deal on a Global Scale with Investments. The rumblings of a one region currency are in the works..not yet a Global Currency. But a combination of a North American Currency and an all Asian Currency. We already have the EURO.

Whitney spoke the truth when she said: Middle Class will be hurt the most by the Banking Rules. (No more fancy cars, big homes or Flat Screens, no more big ticket items on credit for the middle class...no more massive credit extension..etc) And she stated the banks are still weak, even with bail out money.

FED will slowly be challenged by Ron Paul next year.

It's gona be intersting to see the out come.
 
It's entirely possible that a paper currency will disappear and be replaced with plastic and a complete reorganization of the way taxes are collected and processed. The day you can pay your neighbor to fix your fence with cash, tax-free, will someday come to an end. If this happens it will create a black market barter-type system so it will be very difficult for the Governments to pull this off but it's coming down the road, nonetheless. The world is changing at warp speed.

Quote from EMRGLOBAL:

He is correct -- the Fed won't exist in however many years because it's going to be replaced, or morphed, into an International Central Bank, bigger and strong than the IMF. A one-world economy is already here, GAAP is disappearing and being replaced by international accounting standards so it's not difficult to conclude that the groundwork is being laid for an International Central Bank. A one-world currency is right around the corner.
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I would have to agree somewhat, as I deal on a Global Scale with Investments. The rumblings of a one region currency are in the works..not yet a Global Currency. But a combination of a North American Currency and an all Asian Currency. We already have the EURO.

Whitney spoke the truth when she said: Middle Class will be hurt the most by the Banking Rules. (No more fancy cars, big homes or Flat Screens, no more big ticket items on credit for the middle class...no more massive credit extension..etc) And she stated the banks are still weak, even with bail out money.

FED will slowly be challenged by Ron Paul next year.

It's gona be intersting to see the out come.
More...
 
Quote from EMRGLOBAL:


I would have to agree somewhat, as I deal on a Global Scale with Investments. The rumblings of a one region currency are in the works..not yet a Global Currency. But a combination of a North American Currency and an all Asian Currency. We already have the EURO.
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Won't happen. I can see why people think it's a possibility, and theoretically a case could be made as to the benefits of a combined American and Asian currency, but when you think about it practically it could never happen (or at least will take a LONG time).

You think the USA will give up control of their own monetary policy? You think the USA and China will ever agree on various monetary issues? I never say never, but practically speaking we are a long ways away from this.
 
It's not a question of whether the US/Fed will give up control of their own monetary policy but rather, a question of whether they can control the monetary policy of other nations. Remember, the ECB, IMF, and FED are cut from the same cloth. Canada, the US, and the UK have already agreed to an International Accounting Reporting Standard so that lays the groundwork for the emergence of a currency that represents Canada, the US, Mexico and possibly portions of Europe.

No one can predict what will happen with currencies but it's my belief that many currencies will disappear over the next few decades.

Look at the situation in Greece. The IMF has complete control over that nations money supply and fiscal and economic health. Why would the Fed NOT want to be able to have that same kind of control over Canada and/or Mexico for starters? Big changes are coming.

Quote from Kassz007:

Won't happen. I can see why people think it's a possibility, and theoretically a case could be made as to the benefits of a combined American and Asian currency, but when you think about it practically it could never happen (or at least will take a LONG time).

You think the USA will give up control of their own monetary policy? You think the USA and China will ever agree on various monetary issues? I never say never, but practically speaking we are a long ways away from this.
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Kassz007:

Im sure you said the same thing about the EMU. As did most of the world.

Very powerful banks and people are pushing. I'm not the 10th man to know about the "Deal". I'm in the loop. I'm not saying what I know is not disseminated, as it is. You just have to know where to look and who to talk to.

Of course, like the EMU...it will take a decade or more...but the ball is in motion.
 
Quote from the1:

It's not a question of whether the US/Fed will give up control of their own monetary policy but rather, a question of whether they can control the monetary policy of other nations. Remember, the ECB, IMF, and FED are cut from the same cloth. Canada, the US, and the UK have already agreed to an International Accounting Reporting Standard so that lays the groundwork for the emergence of a currency that represents Canada, the US, Mexico and possibly portions of Europe.

No one can predict what will happen with currencies but it's my belief that many currencies will disappear over the next few decades.

Look at the situation in Greece. The IMF has complete control over that nations money supply and fiscal and economic health. Why would the Fed NOT want to be able to have that same kind of control over Canada and/or Mexico for starters? Big changes are coming.
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The new IFRS accounting standards applies to almost every country EXCEPT for the USA.

This is going off topic and sort of a side note - but I believe the reluctance of the USA to adopt IFRS reporting standards will hurt investment in the country. The rest of the world will be reporting a certain way, while the USA continues its own style of accounting. Comparitability with operations in other countries will be impaired and lots of unnecessary work will go into translating US GAAP statements to IFRS and vice versa.



Going back to your post - you asked "why would the Fed NOT want to be able to have that same kind of control of Canada and/or Mexico? Well of course they would like that control, but a better question would be why would Canada and/or Mexico ALLOW the USA to control their monetary policy?
 
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