First, let's get some clarification as to the events of the past 48 hours. We were correct in stating that the Senate voted 78-17 to support the aid bill to Ukraine. The 2010 IMF Code of Reforms WAS included in that vote. However, as noted yesterday, the reforms were stripped from the aid to Ukraine -- and here's the clarification -- BEFORE the bill was sent to the House of Representatives.
Senator Ted Cruz was interviewed by Neil Cavuto on FOX News on yesterday's "Your World With Neil Cavuto." He made very clear his opposition to these IMF reforms and expressed his very great appreciation to Senate Majority Leader Harry Reid for stripping those reforms out of the bill before it was sent to the House of Representatives. Republican Majority Leader in the Senate, Mitch McConnell, made it clear that the IMF Reforms would never pass the House of Representatives, and House Speaker John Boehner echoed McConnell's remarks.
“This bill cannot pass the House or become law in its current form -- it must be amended,” McConnell said. “In order for it to become law, the controversial IMF provision must be removed.”
Today's Bloomberg News reports the following:
"The Treasury Department, which sought the IMF funding changes, lamented Senate Democrats’ decision.
“We are deeply disappointed by the news that Republican opposition has forced the Senate to remove the IMF quota and governance reforms from the Ukraine assistance package,” Treasury spokeswoman Holly Shulman said in a statement. “These reforms, which require no new U.S. financial commitment to the IMF, are critical to preserving the United States’ leadership and influence at the IMF.”
See the following link for the full article: http://www.bloomberg.com/news/2014-03-25/reid-inclined-to-drop-imf-provision-from-ukraine-aid-bill.html
Actually, the House of Representatives voted on H.R. 4152 on March 6th. That bill easily passed the House with strong bipartisan support. The language of H.R. 4152 mirrors the Senate version MINUS any language which includes the IMF Reform package.
Now, let me make some corrections to some facts I quoted yesterday. First of all, I said that the U.S.'s voting power in the IMF was at 17%. It is actually 16.75%, pre-IMF Reforms. Next, I said that the U.S. would be giving up 2 percentage points, leaving them with 15% control in the IMF. The actual fact is that with the IMF Reforms implemented, the U.S. only drops to 16.5% in its voting power!
The concerns expressed by those in opposition in the Senate and in the House of Representatives are, in my honest opinion, misplaced. Senator Cruz, in his comments to Neil Cavuto yesterday, expressed his (and other Republicans) opposition as being based in the fact that Russia would have increased voting power and a stronger voice in the IMF. I guess he can get away with that statement -- technically, at least -- because Russia's total vote in the IMF increases from 2.4% to 2.6%.
Opposition to the IMF Reforms was also said to be predicated on the increased voice China, Brazil, India and South Africa would have in the IMF. That's almost laughable! Let me quote to you from Christine Lagarde's statements to Live Trading News:
"The IMF’s Board of Governors approved the quota and governance reform package in December 2010. The plan included a doubling of IMF quotas and a shift in quotas to dynamic emerging markets and under-represented countries, and a proposed amendment to reform the executive board that would facilitate a move to a more representative and all-elected 24-member board.
If the reform package is implemented, 4 large emerging economies, namely China, India, Russia and Brazil, will all become Top 10 shareholders of the Washington-based global lender.
IMF figures show, as of 24 March, 143 members having 76.22% of total voting power had accepted the proposed amendment on reform of the executive board, falling short of the 85% threshold.
Meanwhile, 158 members having 78.71% of total quota had consented the changes in quotas, reaching the 70% minimum required. But the entry into force of the proposed amendment to reform the executive board is a prerequisite for the quota changes to take effect.
The United States currently holds 16.75% of the IMF voting shares, which gives it the veto power to the reform package."
When you consider Christine Lagarde's statement that, "143 members have 76.22% of total voting power" against America's 16.5%, and the fact that -- from a practical standpoint -- getting Russia, Brazil, China, India, et al to form enough of a majority with the remaining nations to overturn a U.S. veto, the opposition really causes one's eyebrows to raise sharply! The United States still keeps its absolute veto power and control over any funds it commits to the IMF, along with the ability to specify how those funds are disbursed through the IMF.
I don't want to get mired down in too many specifics today or to talk about the teeth the Global Reset brings into this picture, but the essence of these reforms boils down to a very slightly increased voice in the IMF for the emerging nations, along with an increased requirement for their participation.
Let's move on to the topic of the Global Currency Reset one last time (hopefully!). Although I've been unable to find a direct link to Christine Lagarde's comments, she is said to have stated yesterday that the Reset needs to be completed by or before April 1. I personally find April 1 to be a compelling date, and I've said to my friends, "This is not an April Fool's joke; this is an April Blessing!"
I continue to stress that this entire event is a God-driven event. Over the past few days, I've had to quiet a number of people's fears over the possibility that they would lose their currency, or that the administration might impose some kind of rule or legislation that would cause them to lose what God has given them, or that Iraq is going to impose a LOP rather than do an RI/RV, or that Satan is going to take from them and use this blessing against them.
Come on, Folks! Proverbs 6:31-32 tells us the following: "Men do not despise a thief if he steals to satisfy himself when he is hungry; But when he is found, he must repay sevenfold; He must give all the substance of his house." We've all been victims at one time or another of The Thief, and we all know who he is! This blessing is being poured out for the sake of the Kingdom of God, its expansion and the enlarging of its borders. Stop listening to the voices that talk about all the plans of the Enemy to take your currency, or to tax your currency to the point where you have virtually nothing! Stop listening to all of the conspiracy theories and stories that abound! This is Satan's trick to discourage you, disappoint you, and get you to confess what he wants you to confess, instead of confessing that this is the Blessing of the Lord, and He is pouring out His Blessings on you!
That said, Blessings on you!