YAAAWWWN - Jester's Sunday Night Chat from Jester's Place

Jester's Place:

[Jester] HAPPY SUNDAY EVERYONE... HOPE YOU ALL HAD A GOOD WEEKEND...

[SoldierofChrist] Jester you think any significance will come out of the G20 summit???

[Jester] SoldierofChrist I DON'T KNOW... I CANNOT READ THE FUTURE ANY MORE THAN YOU CAN... WE WILL HAVE TO WAIT AND SEE WHAT HAPPENS...

[SoldierofChrist] Jester i was wondering if members of the Republic would be there???

[mentoredlife] Jester, I see Rand Paul is now taking shots at the Fed. Wouldn't he be one of the ones working with the Republic and know the Fed is on it's way out in it's current role?
....

Jester] mentoredlife I THINK THAT ANYONE YOU SEE DOING THAT SORT OF THING IS DOING IT FOR A REASON... AND THAT IS THE RIGHT REASON...

[SoldierofChrist] Mentoredlife he always stood out to me for sure

[mentoredlife] Jester cool. Is that just another sign of progress then?

[Jester] WHETHER THE FED IS "ON THE WAY OUT" AS YOU PUT IT IS YET TO BE SEEN... I THINK IT WILL TAKE A BIT OF TIME TO SEE THAT THROUGH... AND SOMEWHERE ALONG THE WAY A VOTE TO LIQUIDATE THAT CHARTER WILL BE REQUIRED...

[Jester] The Federal Reserve Act of 1913--which established the Federal Reserve as the central bank of the United States--originally chartered the Federal Reserve Banks for 20 years. But in the McFadden Act of 1927, the Congress rechartered the Federal Reserve Banks into perpetuity, and so there is currently no "expiration date" or repeal date for the Federal Reserve.

[Jester] READ UP ON THAT IF YOU DON'T BELIEVE ME... I HAVE... EVERYONE THINKS THIS 100 YEAR CHARTER THING WAS ALL THE RAGE... BUT IT WAS BS...

[Jester] SO... WHEN THAT VOTE TAKES PLACE... YOU WILL KNOW WE ARE ON THE RIGHT TRACK...

[mentoredlife] Jester, I didn't mean going away. Should have put more emphasis on the "current role" rather than "on the way out". Won't the Treasury take over more of the roles that the Fed is currently handling?

[Jester] REMEMBER I HAVE BEEN SAYING WHAT HAS BEEN DONE WILL HAVE TO BE UNDONE THE SAME WAY IT WAS DONE... SO... WE WAIT...

[Jester] mentoredlife IN MY OPINION NO... THE FED WILL HAVE TO CONTINUE TO DO THE SYSTEM ACTIVITIES THAT ARE REQUIRED TO MOVE MONEY IN THE WORLD...

[Jester] THE CENTRAL BANKING FUNCTION... YES...

[Jester] AND THAT IS THE UST FUNCTION AS WELL... ISN'T IT?

[Jester] UNLESS THE NEW BRICS TAKES THOSE OVER TOO... WHICH IS A POSSIBILITY.... THEY ARE WORKING ON THEIR OWN SWIFT SYSTEM.... WHICH IS LARGELY ABOUT MONEY TRANSFERS... SO IT COULD WORK TO REPLACE THAT... IF EVERYONE ELSE SIGNED ON...

[mentoredlife] Thanks Jester. I'm sure you understand the system and how it functions better than I do. I'm just a Canuck trying to understand how the global reserve currency functions and how it impacts the rest of us too.

[Jester] mentoredlife OVERLY SIMPLIFIED... BUT ACCURATE... THE RESERVE CURRENCY IS THE CURRENCY EVERYONE HAS TO CONVERT TO BEFORE THEY CAN TRADE ANYTHING... YOU WOULD NOT TRADE IN YOUR MONEY TO SOMEONE ELSE'S MONEY... YOU FIRST CONVERT TO A KNOWN QUANTITY EACH WAY AND THEN YOU TRADE..

[Jester] NOW EVERYONE IS TIRED OF USING A WORTHLESS USD FOR THAT... SO YOU SEE ALL KINDS OF SIDE DEALS BEING MADE TO WORK AROUND IT...

[Hoosier Girl] Jester Do you agree with what Jim Willie says about the Devaluation of our currency?

[Jester] THE WORLD KNOWS THAT THEY ARE READY TO CONVERT THEIR CURRENCIES TO ASSET BACKED... THEY WILL NOT LIKE TO BE DOING THAT WITH A FIAT USD...

[Jester] Hoosier Girl I HAVE HEARD WHAT HE HAS SAID.... AND I DO NOT SEE ANY ISSUE WITH HIS THINKING... HE IS PRETTY SMART... BEEN RIGHT A WHOLE LOT MORE THAN HE HAS BEEN WRONG...

[mentoredlife] Yes Jester, and as I understand it historically reserve currencies get replaced every 40 to 70 years. USD has overstayed it's welcome.

[Jester] AND EVEN WHEN HE WAS WRONG IT WAS BECAUSE THE VARIABLES CHANGED... BUT YOU HAVE TO KEEP IN MIND WHY HE IS SAYING THAT TOO... AND WHICH CURRENCY HE IS TALKING ABOUT... HAHAHAHHAH

[Jester] mentoredlife THEY COULD HAVE LASTED A LOT LONGER IF THEY WOULD HAVE BEEN THE BIG BROTHER EVERYONE NEEDED INSTEAD OF THE NEXT GREEDY CAESAR LIVING HIGH ON THE HOG WHILE EVERYONE ELSE IN THE WORLD SUFFERED....

[Jester] THE PROBLEM WITH THE CENTRAL BANKERS IS THEY DO NOT REMEMBER THEIR OWN HISTORY... THEY ARE MORE GREEDY AND NOT THAT BRIGHT... THINK IT CAN'T HAPPEN TO THEM...

[mentoredlife] Jester so true. Maybe the next version will be more in line with inclusiveness instead of greed.

[Jester] mentoredlife LOOKS TO ME LIKE THE CHINESE ARE GOING TO GET THE NEXT CHANCE... WE WILL SEE I SUPPOSE....

[pokerbrat] Greed and corruption is the current USA legacy IMO

[mentoredlife] Jester, better start practicing my mandarin.

[Jester] mentoredlife THE REST OF THE WORLD DID NOT LEARN ENGLISH JUST BECAUSE WE WERE THE RESERVE CURRENCY... THAT IS NOT HOW IT WILL GO... IT IS NOT A TAKEOVER OR ANYTHING...,

[mentoredlife] Jester, I know. But it wouldn't hurt.

[Jester] JUST A SWING IN HAVING A CURRENCY THAT IS WORTH SOMETHING... HAHAHAHAH

[alfonse] We will actually be compensated properly for our labors.

[dinarrocks] Jester Do you believe the yuan will become a reserve currency BEFORE the USD falls?

[Jester] dinarrocks IT ALREADY IS IN A LOT OF PLACES... THERE ARE YUAN SWAP FACILITIES THAT HAVE CROPPED UP ALL OVER THE PLACE IN THE LAST FEW MONTHS.... WE REPORTED A LOT OF IT.... BUT THAT WAS BEFORE YOU CAME BACK IN....

[Jester] THE MORE THE US TIGHTENS ITS GRIP THE MORE COUNTRIES SLIP THROUGH THEIR FINGERS...

[SoldierofChrist] Jester the US has a terrible grip lol

[dinarrocks] Jester Do you have a sense of what the breaking point will be that will signal the demise of the USD?

[Jester] dinarrocks YES... HAHAHAHAH

[dinarrocks] Jester ANNNNNNNNNND??????

[Jester] WE HAVE BEEN POSTING ON THAT FOR A FEW MONTHS TOO... HAHAHAHAH

[Jester] THESE ARE LONG DRAWN OUT EXPLANATION WHICH WE HAVE BEEN TALKING ABOUT FOR A LONG TIME... WATCHING THE BRICS... WATCHING THE PETRODOLLAR EROSION... WATCHING THE YUAN SWAP FACILITIES... WATCHING THE INDIVIDUAL DEALS BETWEEN BRICS COUNTRIES... AUSTRALIA... ETC. ETC...

[Jester] NOT A SIMPLE ANSWER...

[dinarrocks] Jester Well, it is all so complex, and we switch from topic to topic, from night to night. It is VERY HARD to keep straight!

[Jester] I THINK PEEPS GET SENSITIZED TO THE "THERE IS THIS ONE THING" THAT WILL MAKE IT ALL HAPPEN....

[Jester] AND I HAVE BEEN EXPLAINING FOREVER THAT IT IS A BIG PICTURE... A PUZZLE WITH A HUGE NUMBER OF PIECES...

[Jester] dinarrocks I TALK ABOUT WHAT YOU GUYS ASK... MOST OF THIS IS OLD NEWS FOR THE PEOPLE THAT HAVE BEEN HERE EVERY NIGHT OVER THE LAST MONTHS...

[Hoosier Girl] Jester And we are seeing it happening now... Thanks to you!

[dinarrocks] Jester Yes, that is true. It would be nice to look for ONE thing that we can see as THE defining "piece" that tells us we are there. I know it is not like that!

[Jester] dinarrocks OKAY... AND I AM NOT TRYING TO BE DIFFICULT... BUT YOU QUESTION WAS SAID THAT WAY... "THE BREAKING POINT THAT WILL SIGNAL THE DEMISE" INDICATED TO ME YOU WERE LOOKING FOR AN ACT OF SOME KIND....

[Jester] AS I ANSWERED TO MENTOREDLIFE EARLIER... THE VOTE ON THE FED WILL BE THE END GAME... BUT THAT IS WAY DOWN THE ROAD FROM WHAT WE ARE LOOKING FOR HERE IN MY OPINION...