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GregB's avatar

A good summary of current events, thanks.

Whilst it might all be planned, it seems to me that all our leaders are following the 'narrative' like sheep. They would far rather meet up with each other at Davos or wherever, and be told what 'the best' policies are, by the WEF, WHO, IMF etc etc than actually listen to 'we the people'.

Groupthink is alive and well amongst those who hold the reigns of power and will lead to the inevitable 'Bay of Pigs' of financial disasters, as you allude (to mix metaphors).

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PROTECT & SURVIVE's avatar

Good to hear from you Greg and Niall phoned to say, "Who's this Greg - he is commenting on THA website?" I explained it all and suggested that we might all meet in Bruton sometime and compare notes! We are all on the same page and I know now that I have an answer to the Emergent New Economy planned by the WEF et al. I shall be writing up my Part 2 this year.

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jo blo's avatar

Peter, you mention early on that PMs won't fit the bill as a reserve currency and shortly thereafter, say that gold might become the RC. I'm confused.

Happy sailing!

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PROTECT & SURVIVE's avatar

Thanks Jo blo for pointing out my inconsistency. I must confess that secretly I am undecided as to whether gold itself is suitable to be the basis of a reserve currency, as is being promoted by the Russian central bank, or rather as described in my book, the IMF Special Drawing Rights (SDR) might prevail as an interim to a full CBDC architecture.

My colleague Gerry at BOOM Economics has present yet another option, so I guess it is fair to say that the issue is in a state of flux:

https://boomfinanceandeconomics.wordpress.com/2019/12/15/boom-as-at-15th-december-2019/

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jo blo's avatar

Thanks for the quick response, Peter. From what little I know, it seems that your view of SDRs is the correct one.

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PROTECT & SURVIVE's avatar

Well, Jo blo, it does offer a practical interim solution, just a the ECU did in 1980s Europe. We must all observe and watch the unfolding scenario as the months pass by.

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