cascais says:Dear WHA; What about the people who hold no currency other than the US Dollars? Will we be subjected to instant poverty when the dollar revalues?
Many read this blog just to keep up with current events. I have always held the IMF in the lowest regard. Are you saying they are the good guys for promoting the currency reset? Could you clarify please. Thank you so much.
whitehatauxiliaries: Hello, Instant poverty? If by that you mean a crashed USD, I do not think that will happen. The whole idea is to prevent such.
IMF, good or bad, is part of the process. It’s all a matter of perspective.
Occasnl Trvlr Again, of course, I am not WHA, but would like to share my opinion on your question.
“Subjected to instant poverty”? No. Rather, subjected to immediate loss of wealth, which will continue over time.
REGARDLESS of the timing or nature of the WGS, and the GCR, currency currently held domestically (and, to be clear, I mean precisely current-day Federal Reserve Notes held physically in the U.S. and held in U.S.-based institutions) will be devalued.
There will be some asset-backed currency vehicle made available, but there is difference of opinion regarding the mechanisms of how it will be made available, and to whom.
Those of us inside the U.S. (including government, corporations, and individuals) have enjoyed grossly unfair advantages over the rest of the world simply by means of the nature of the USD being the world’s reserve currency, and as the reset occurs, we will lose that advantage.
Contrast our domestic advantage with that of USD’s held overseas. Some of those who are required to us US FRN’s outside of the U.S. have not enjoyed any unfair advantages, and it would be unfair to devalue their holdings.
For example, think of a Bangladeshi energy company that must buy energy in USD. But then there are those who have enjoyed exorbitant advantage, say, for example, a US-based software company with vast USD holdings overseas for tax advantages.
Hence, it seems appropriate that domestic FRN’s be devalued and FRN’s held abroad may not be. This is one of the “sticky-wicket” areas that anyone involved in coordinating the GCR must face, and find fair and agreeable resolution for.
But, with regard to devaluation of your and my FRNs, please consider that NOBODY can afford for the U.S. to suddenly sink into poverty. Hence, the devaluation must, necessarily, be controlled, and move slowly over time.
There seems to be broad agreement on a relatively sudden and immediate devaluation in the range of 30%. But keep in mind that would apply to anything purchased from outside the U.S., so it will take a little time for the resultant 42% price increase to reflected at the retail level.
That won’t be end of it. Further devaluation will come, until the playing-field is leveled.
EVERYONE wants to avoid riots. Riots are incited by hunger. There will be ways to eat, regardless of devaluation.
The Chaplain has said, Green Lantern has said, every voice of reason is saying, “buy precious metals”.
cascais says: Thank you WHA and Occasnl Trvl for the clarification. I am mostly worried about mortgage payments, groceries and utility bills going up 30-42% while our fixed income remains the same.
whitehatauxiliaries says: The area of food and water management in the USA is one area that has been choked to death with corruption and monopolistic greed.
This is one area where a lot of the wealth the people will attain should be invested – at the local level. And all rat politicians who stand in the way of such advances need to be removed.
The North American Water and Power Alliance, alone, if implemented, would bring water to all regions of the world instead of seeing it run off into the ocean at the end of each snow melt in the Canadian west and Alaska.
It would create 50,000 jobs alone in the USA for 50 years, and would ensure agriculture would be there to serve all man, not to mention hydro electric power and safe forms of nuclear power, which is the most efficient form of energy. This alone would prevent the need to fight over resources, and remove the need for war over such.
This project, and others like it, need our force as a people to put into effect.
JohnF says: Thank you for bringing WH’s message to us at this juncture WHA – it’s greatly appreciated. It’s wisdom in its purest form and one of the best and most useful pieces I’ve read in a long long time. His ‘smart advice’ paragraph is the wisest strategy out there and worth at least a thousand camels on its own.
Taking personal responsibility for ourselves instead of continuously giving our power away is more vital than folks may initially realise. We’ve been in a parent/child relationship with our controllers for millenia and the masses do not get it.
There’s an implied growth stage in this process akin to humanity growing out of childhood and into true adulthood. Also avoiding the lottery mentality is sadly where many will come unstuck. I’m glad this point was raised and hopefully many will avoid making this mistake.
I do have a quick and cheeky question – In your intro pre-amble to WH’s letter you say “the events you will see unfold before your eyes in the coming days”.
Is there a hint here about the timeframe we potentially need to start preparing for? Did you mean days in the literal sense or days that could accumulate to weeks?
whitehatauxiliaries says: Hello,
We have not been given a precise date, but from all indications shared with us, that day is drawing nearer all the time.
We can also rest assured that our White Hat contact would not give such timely advice if we were languishing in a situation where the entire event was in doubt.