Jester Chat for Thursday - grab a cup of coffee - maybe 2 cups

Jester's Place:

[Jester] WHEW.... HAPPY THURSDAY EVERYONE...

[Vigilance] Jester hi boss - how are ya?

[ [Jester] COLD... THAT IS ABOUT ALL I CAN SAY... HAHAHAHA

[mentoredlife] Jester did some reading about the US corporation today. Do you have anything reputable you can share about other nations that might be in the same boat? I have a feeling the US isn't the only country that's been hijacked and taken over by a corporation.

[mentoredlife] Jester I found this about Canada so far  https://inpursuitofhappiness.wordpress.com/2006/12/02/canada-is-a-corporation-under-uk-queen/

[Jester] mentoredlife START BY INVESTIGATING THE INFORMATION IN "CONFESSIONS OF AN ECONOMIC HIT MAN" AND YOU WILL HAVE PLENTY OF RESEARCH TO DO..
....

[Jester] HERE IS A PDF VERSION…  
 http://resistir.info/livros/john_perkins_confessions_of_an_economic_hit_man.pdf

[CatInTheHat] Jester I understand Iraq is not your forte but do you have a opinion on the RV

[Jester] CatInTheHat OPINION HOW DO YOU MEAN? LIKE WHAT THEY ARE DOING? THERE ARE THOSE THAT ALREADY DO THAT AND PUT OUT A GOOD REPORT... IF YOU LIKE TO KNOW WHERE IRAQ IS I SUGGEST YOU LOOK UP TLAR OR MILLIONDAY... THEY ARE KNEE DEEP IN ALL THAT IRAQ STUFF... WHY WASTE MORE EFFORT... GIVES ME TIME TO DO OTHER THINGS THEY DO NOT DO... THAT IS WHY I DON'T DO IT...

[CatInTheHat] Was looking to see if your contacts had a better assessment of Iraq. Will stick with millionday.Thank you

[Jester] CatInTheHat WE HAVE BACKGROUND... NOT THE DAY TO DAY DETAILED WORKINGS... I JUST DON'T REALLY CARE ABOUT IT BECAUSE I DON'T THINK THAT HAS ANYTHING TO DO WITH IT IN THE BIG PICTURE... IT WILL ALL COME TOGETHER BUT IT IS NOT RUNNING THINGS...

[Jester] IE: THAT IS NOT THE DRIVING FORCE... NOW... IT MIGHT BECOME SO IF THEY GO AHEAD AND DO IT AGAINST THE WISHES OF OTHERS... WHICH COULD HAPPEN... PROBABLY AT A LOWER RATE... THEN LET THE RESET OF THE WORLD WORK IT OUT... BUT THAT WOULD NOT REALLY HELP US... NOT IN MY OPINION ANYWAY...

[CatInTheHat] I think the people in this room would like to see a end game. ~Via~ china gold ~ Russia ruble ~ or the long and awaited come to Jesus of our congress and Senate, anyway thank you for your opinion Jester. You keep the mind thinking

[Jester] CatInTheHat WELL THAT IS THE BIG PICTURE... WHICH IS WHY I FOCUS ON THAT INSTEAD OF IRAQ... TO THINK THAT IT IS ALL ABOUT ONE THING WITH EVERYTHING THAT IS GOING ON IS JUST SILLY...

[BocaLinda] Jester hi hubby and I are wondering re derivatives... if TRNs come out to replace FRNs, dont derivatives still have to be paid off, and wouldn't that require bail ins by the banks, same as with FRNs?

[Jester] BocaLinda DO YOU UNDERSTAND WHAT A DERIVATIVE CONTRACT REALLY IS? BECAUSE THAT WOULD ANSWER THE QUESTION...

[BocaLinda] jester maybe not. how bout 'splainin it to me?

[Jester] BocaLinda A DERIVATIVE IS A SECURITY OR CONTRACT THAT IS DEPENDENT ON SOME OTHER UNDERLYING ASSET... IT'S VALUE DEPENDS ON THE UNDERLYING ASSET... COMMON ASSETS MIGHT BE STOCKS, BONDS, CURRENCY, ETC...

[Jester] FUTURES, FORWARDS, AND OPTIONS ARE COMMON TYPES OF DERIVATIVE CONTRACTS...

[Jester] THEY PRODUCE A HIGH LEVERAGE RESULT IF YOU ARE RIGHT... AND YOU LOSE YOUR BUTT IF YOU ARE NOT... HAHAHAHA

[Jester] NOW... WHEN TIED TO ANOTHER ASSET THEY CAN BE USED TO HEDGE AGAINST A RISK...

[Jester] BocaLinda YOU BUY A STOCK AND IT GOES UP OR DOWN... YOUR PROBLEM RIGHT?

[BocaLinda] yep

[Jester] YOU BUY AN OPTION WHICH IS A FORM OF DERIVATIVE THEN ALSO YOUR PROBLEM...

[Jester] WHEN THE BANK DOES IT... WHO'S PROBLEM IS IT IF THEY ARE TOO BIG TO FAIL? AND WHO'S DECISION IS THAT I MIGHT ADD... BUT THAT IS ANOTHER STORY...

[BocaLinda] banks problem, then mine if they bail in

[Jester] BocaLinda SO... YOU THINK IT WILL MATTER WHAT KIND OF MONEY YOU HAVE IN THEIR BANK WHEN THE TIME COMES?

[BocaLinda] jester ik, so even with TRN, we could see bail ins...

[Jester] BocaLinda OK SO NOW... YOU HAVE GOT YOUR ANSWER YES?

[Jester] THAT WAS A VASTLY OVERSIMPLIFIED EXPLANATION... IF YOU LIKE TO KNOW MORE AND GET ATTUNED TO THE TALK OF IT I SUGGEST YOU THOROUGHLY REVIEW THIS ARTICLE WHICH IS PRETTY GOOD…    http://www.investopedia.com/articles/optioninvestor/10/derivatives-101.asp

[Jester] IT DOES NOT TELL YOU WHEN THE RV WILL BE OR ANYTHING SO DON'T GET YOUR HOPES UP... HAHAHAHAHA

[BocaLinda] Thx much Jester!

[BocaLinda] jester, now I still worry about bail ins lol

[MarySunshine] Jester I have a question. Does having money in a trust have protection against any kind of bank bail in?

[Jester] MarySunshine I CANNOT ANSWER THAT... MAINLY BECAUSE I DO NOT LIKE TO GIVE THAT SORT OF ADVICE... AND ALSO BECAUSE THERE ARE A LOT OF DIFFERENT KINDS OF TRUSTS... ... I ADVISE THAT YOU FIND SOMEONE THAT DOES IT FOR A LIVING AND KNOWS WHAT THE HECK THEY ARE TALKING ABOUT...

[Jester] A LAWYER WITH AN ACCOUNTING BACKGROUND COMES TO MIND... BEST OF BOTH WORLDS THERE...

[CatInTheHat] Well, Jester I would love to see the Big Picture! But little ole greedy me wants my Dinar worth millions, and quite actually I believe the GCR has high jacked the scam of the RV and everything has become Bull$!!-/ waste of time, poor mans dreams. Conflicts of created madness. Nothing seems real Oh Dear!

[Jester] CatInTheHat WELL MANY HAVE GIVEN UP... BUT THE FACT OF THE MATTER IS THAT UNLESS THE OIL CREDIT SCENARIO PANS OUT THERE IS NO ONE OUT THERE THAT WILL LIKE TO HAVE YOUR DINAR... THAT IS WHY I BELIEVE PEOPLE SHOULD KNOW WHAT THEY ARE LOOKING AT...

[Jester] SO... YOU CAN WAIT IT OUT FOR THE RIGHT TIME JUST LIKE ANY OTHER INVESTMENT... REALIZING THAT THEY DID NOT DO THIS SO LITTLE OLE GREEDY YOU COULD GET RICH... OR YOU CAN RUN AROUND WAVING YOUR ARMS AND SCREAMING OH CRAP WE ARE ALL GONNA DIE... HAHAHAHAHA

[Jester] THERE ARE A LOT OF GOOD PEOPLE DOING THINGS FOR THE GOOD OF THE AMERICAN PEOPLE THAT THEY WILL NEVER GET THANKED FOR... THEY ARE DOING IT BECAUSE IT IS THE RIGHT THING TO DO... HUMANITARIAN PURPOSES...

[Jester] AT LEAST YOU ARE HONEST ABOUT IT... BUT IT IS NOT ABOUT YOU SO TOUGH IT OUT... HAHAHAHA

[CatInTheHat] Jester thank you! I really do give a lot to humanity but I want to see the world so I may start my next humanitarian project. I know it's has never been about me, believe me I know.

[Jester] THE AVERAGE DINARIAN WAS USED TO RAISE CAPITAL FOR IRAQ... SHORT STORY WOULD BE... SCREW EM... WE GOT THEIR MONEY... AND THEY COULD HAVE DONE THAT... STILL COULD I SUPPOSE... BUT I DO NOT THINK THEY WILL BECAUSE THEY WENT TO THE TROUBLE OF MAKING PESKY CONTRACTS TO TAKE ADVANTAGE OF THE SITUATION AFTER THE FACT WITH THE OIL CREDITS... SO THEY COULD MAKE EVEN MORE MONEY FROM YOUR INVESTMENT THAN YOU DID...

[Jester] THANKFULLY THERE IS A BIG PICTURE... CONTRARY TO WHAT SOME OTHERS SAY... I WOULD LIKE TO KNOW HOW ANYONE WOULD EXPLAIN WHERE THE MONEY WILL COME FROM IF THERE WAS NOT...

[BocaLinda] Jester I was disappointed reading MTN goat today.she berated anyone out there talking about the Republic and the TRNs. For me, that goes to show how unconnected she is...

[Jester] BocaLinda WELL I WAS ACTUALLY ENJOYING THE POST UP UNTIL THAT POINT... LET ME POINT OUT A FEW THINGS...

[Jester] THE INSIDIOUS INSERTION OF THE OIL CREDIT SCENARIO BY ACTING LIKE IT HAS BEEN THERE IN THOSE POSTS ALL ALONG... WHICH I DON'T RECALL AT ALL.. ANYONE NOTICE THAT? WE BEEN TALKING ABOUT IT FOR A COUPLE YEARS... AND NOW ALL OF A SUDDEN CHINA HAS DECIDED TO BUY MORE OIL FROM IRAQ? OK WHATEVER... THIS PLAN HAS BEEN SET UP FOR OVER A YEAR... YOU CAN TRUST ME ON THAT OR NOT BUT YOU KNOW I DO NOT SAY THINGS I AM NOT SURE ABOUT OR HAVE PERSONAL KNOWLEDGE OF...

[Jester] PEOPLE DO NOT LIKE TO BELIEVE THAT CHINA HAS A HUMANITARIAN SIDE AND THAT THEY AND RUSSIA ARE TIRED OF THE FED BS DOLLAR AND WILL MAKE THE MOVE TO GO GOLD BACKED... I DO BELIEVE THAT ROBERTS AND WILLIE HAVE A LITTLE MORE OF AN IDEA OF WHAT IS GOING ON IN THE WORLD AND I TEND TO FOLLOW THEIR THOUGHTS RATHER THAN A DINAR LAND GURU THAT TALKS A GOOD GAME...

[BocaLinda] jester I agree with you

[CatInTheHat] So our best bet is with the groups that have the china deals. I'm good with that.

[CatInTheHat] The money comes from ? For what? I might have missed a lesson

[Jester] IF YOU ARE WITH GENERAL 64... AND I WISH I COULD TELL YOU EVERYTHING I KNOW ABOUT IT BUT IT IS NOT MY STORY TO TELL... BUT I CAN TELL YOU THIS... GOOD PEOPLE ARE WORKING ON THAT... IT WILL BE OKAY...

[Jester] IF YOU ARE ALREADY WITH THE... HOW DID THAT GO? POOL OF FUNDS ALREADY UNDER EXCHANGE CONTRACTS... BET YOU DIDN'T CATCH THAT DID YOU... THEN YOU ARE ALSO OKAY...

[pollyp] Jester, that's is such a relief

[BocaLinda] Jester thx for saying that. many need that encouragement!

[Jester] SO IT WILL BE EASY TO SAY... AWW HECK... THE REPUBLIC CHANGES DID NOT HAPPEN... THE LIKELIHOOD IT WILL BE LOUD AND CLEAR IS QUESTIONABLE... BUT THE CHANGES WILL BE IF YOU ARE WATCHING...

[Jester] NOW KEEP IN MIND THAT FORK IN THE ROAD HAS NOT BEEN ENTIRELY DECIDED YET... THAT IS THE WHOLE PROBLEM... THE FIGHT IS STILL ON... AND AS I TOLD YOU BEFORE... UNLESS THE WORLD GETS WHAT THEY WILL LIKE... THEN THE FIGHT IS STILL ON...

[Jester] OTHERWISE HOW DO YOU EXPLAIN THE IMF TRYING TO HOLD ON TO THEIR CONTROL BY GOING AROUND THE BIGGEST BULLY ON THE BLOCK?

[Jester] THERE ARE TWO SCENARIOS... THE US INTENDS TO GET IT DONE WITH THE REPUBLIC AND FOLD THE IMF BY RESISTING THE REFORMS... FORCING THE WORLD TO IMPLEMENT THE BRICS... OR THE WORLD GOES AROUND THEM... WHICH MAY NOT BE THE DESIGN... IF YOU LOOK AT IT THAT WAY THE RESISTANCE TO THE REFORMS IS A GOOD THING... IS A THOUGHT…

[BocaLinda] jester you stumped me on the ... POOL OF FUNDS ALREADY UNDER EXCHANGE CONTRACTS.

[Jester] BocaLinda WAS I THE POST YOU ASKED ME ABOUT... READ IT AGAIN...

[chasen] Jester does the Jim willie timing make sense in your understanding of the current situation?

[Jester] chasen YES... IS AS A GOOD A TIME FRAME AS ANY... AND IS BACKED UP WITH A LOT OF ECONOMIC STATISTICAL ANALYSIS

[ajmaudio] DO we really think our government will do something good ... tank the imf for the good of everyone? Doesn't seem to line up with everything else our gov does lol

[ajmaudio] seems more likely we are delaying the loss of our dominance of IMF perhaps?

[Jester] ajmaudio WELL LET ME GIVE YOU ANOTHER WAY OF LOOKING AT IT... WHO CONTROLS THE IMF?

[BocaLinda] jester, ok. you're quoting mtn goat. do you agree Generals64 is viable?

[Jester] BocaLinda I JUST TOLD YOU THAT... [Jester] IF YOU ARE WITH GENERAL 64... AND I WISH I COULD TELL YOU EVERYTHING I KNOW ABOUT IT BUT IT IS NOT MY STORY TO TELL... BUT I CAN TELL YOU THIS... GOOD PEOPLE ARE WORKING ON THAT... IT WILL BE OKAY...

[ajmaudio] well.. in theory we have the most votes if I recall correctly

[Jester] ajmaudio AH.... BUT WHO IS RUNNING THE SHOW AT THE IMF?

[ajmaudio] I'd be lying if I said I recalled at this moment.. been a few months

[Jester] The International Monetary Fund (IMF) is an international organization "of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.” The organization was formed in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries. The IMF's stated goal was to assist in the reconstruction of the world's international payment system post–World War II. Countries contribute funds to a pool through a quota system from which countries with payment imbalances temporarily can borrow money and other resources. As of the 14th General Review of Quotas in late 2010 the fund stood at SDR476.8bn, or about US$755.7bn at then-current exchange rates.

[Jester] Through this fund, and other activities such as statistics keeping and analysis, surveillance of its members' economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries. The organization's objectives are stated in the Articles of Agreement and can be summarized as: to promote international economic co-operation, international trade, employment, and exchange-rate stability, including by making financial resources available to member countries to meet balance of payments needs. Its headquarters are in Washington, D.C., United States.

[ajmaudio] headquarters are here... hahaha.. that I didnt know

[chasen] Of course we are in charge of it!!

[Jester] SOME OF THIS IS A LITTLE OUT THERE... I CANNOT FIND THE OLD ARTICLE THAT I USED TO USE... DARN IT.. AND TIME IS SHORT SO I WILL WING IT...

[Jester] WELL I AM NOT GOING DOWN THE OWNERSHIP ROAD SINCE I CANNOT FIND THE BACKUP... GRRRR...

[ajmaudio] Fair enough... I wont hold you to it... you warned us.. we are adults we can verify etc... I'm intrigued

[alfonse]   http://www.lawfulpath.com/ref/federal_reserve.shtml

[alfonse] oops... Sorry

[Jester] alfonse NOT FOR THE IMF... BUT THERE IS PROBABLY ONE VERY SIMILAR FOR IT IF YOU CAN RUN IT DOWN.... HAHAHAHA

[Jester] LET'S TAKE ANOTHER TACT...

[ajmaudio] Jester You gonna wing it for us? Lol

[BocaLinda] jester is there a feasible way to bring out the TRNs without crashing the dollar?

[Jester] POO... I CAN'T FIND IT... MAYBE WE CAN DO THAT TOMORROW... SUFFICE TO SAY THAT THE SAME ISSUE WITH OTHER CENTRAL BANKS IS AT THE BASE OF ISSUE WITH THE IMF AND WORLD BANK BOTH... YOU CAN FIGURE IT OUT FROM THERE... THEY ARE ALL TIED TOGETHER...

[Jester] THERE ARE A TON OF ISSUES AT THE IMF... ISSUES THAT REALLY HAMPER THE COUNTRIES NEEDING THEIR HELP IN THE LONG RUN...

[Jester] The IMF -- along with the WTO and the World Bank -- has put the global economy on a path of greater inequality and environmental destruction. The IMF's and World Bank's structural adjustment policies (SAPs) ensure debt repayment by requiring countries to cut spending on education and health; eliminate basic food and transportation subsidies; devalue national currencies to make exports cheaper; privatize national assets; and freeze wages. Such belt-tightening measures increase poverty, reduce countries' ability to develop strong domestic economies and allow multinational corporations to exploit workers and the environment A recent IMF loan package for Argentina, for example, is tied to cuts in doctors' and teachers' salaries and decreases in social security payments.. The IMF has made elites from the Global South more accountable to First World elites than their own people, thus undermining the democratic process.

[Jester] Unlike a democratic system in which each member country would have an equal vote, rich countries dominate decision-making in the IMF because voting power is determined by the amount of money that each country pays into the IMF's quota system. It's a system of one dollar, one vote. The U.S. is the largest shareholder with a quota of 18 percent. Germany, Japan, France, Great Britain, and the US combined control about 38 percent. The disproportionate amount of power held by wealthy countries means that the interests of bankers, investors and corporations from industrialized countries are put above the needs of the world's poor majority.

[Jester] Unlike the path historically followed by the industrialized countries, the IMF forces countries from the Global South to prioritize export production over the development of diversified domestic economies. Nearly 80 percent of all malnourished children in the developing world live in countries where farmers have been forced to shift from food production for local consumption to the production of export crops destined for wealthy countries. The IMF also requires countries to eliminate assistance to domestic industries while providing benefits for multinational corporations -- such as forcibly lowering labor costs. Small businesses and farmers can't compete. Sweatshop workers in free trade zones set up by the IMF and World Bank earn starvation wages, live in deplorable conditions, and are unable to provide for their families. The cycle of poverty is perpetuated, not eliminated, as governments' debt to the IMF grows.

[Jester] The IMF is funded with taxpayer money, yet it operates behind a veil of secrecy. Members of affected communities do not participate in designing loan packages. The IMF works with a select group of central bankers and finance ministers to make polices without input from other government agencies such as health, education and environment departments. The institution has resisted calls for public scrutiny and independent evaluation.

[Jester] To increase exports, countries are encouraged to give tax breaks and subsidies to export industries. Public assets such as forestland and government utilities (phone, water and electricity companies) are sold off to foreign investors at rock bottom prices. In Guyana, an Asian owned timber company called Barama received a logging concession that was 1.5 times the total amount of land all the indigenous communities were granted. Barama also received a five-year tax holiday.

The IMF forced Haiti to open its market to imported, highly subsidized US rice at the same time it prohibited Haiti from subsidizing its own farmers. A US corporation called Early Rice now sells nearly 50 percent of the rice consumed in Haiti.

[Jester] The IMF and World Bank frequently advise countries to attract foreign investors by weakening their labor laws -- eliminating collective bargaining laws and suppressing wages, for example. The IMF's mantra of "labor flexibility" permits corporations to fire at whim and move where wages are cheapest. According to the 1995 UN Trade and Development Report, employers are using this extra "flexibility" in labor laws to shed workers rather than create jobs. In Haiti, the government was told to eliminate a statute in their labor code that mandated increases in the minimum wage when inflation exceeded 10 percent.

By the end of 1997, Haiti's minimum wage was only $2.40 a day. Workers in the U.S. are also hurt by IMF policies because they have to compete with cheap, exploited labor. The IMF's mismanagement of the Asian financial crisis plunged South Korea, Indonesia, Thailand and other countries into deep depression that created 200 million "newly poor." The IMF advised countries to "export their way out of the crisis." Consequently, more than US 12,000 steelworkers were laid off when Asian steel was dumped in the US.

[Jester] SAPs make it much more difficult for women to meet their families' basic needs. When education costs rise due to IMF-imposed fees for the use of public services (so-called "user fees") girls are the first to be withdrawn from schools. User fees at public clinics and hospitals make healthcare unaffordable to those who need it most. The shift to export agriculture also makes it harder for women to feed their families. Women have become more exploited as government workplace regulations are rolled back and sweatshops abuses increase.

[Jester] IMF loans and bailout packages are paving the way for natural resource exploitation on a staggering scale. The IMF does not consider the environmental impacts of lending policies, and environmental ministries and groups are not included in policy making. The focus on export growth to earn hard currency to pay back loans has led to an unsustainable liquidation of natural resources. For example, the Ivory Coast's increased reliance on cocoa exports has led to a loss of two-thirds of the country's forests.

[Jester] The IMF routinely pushes countries to deregulate financial systems. The removal of regulations that might limit speculation has greatly increased capital investment in developing country financial markets. More than $1.5 trillion crosses borders every day. Most of this capital is invested short-term, putting countries at the whim of financial speculators. The Mexican 1995 peso crisis was partly a result of these IMF policies. When the bubble popped, the IMF and US government stepped in to prop up interest and exchange rates, using taxpayer money to bail out Wall Street bankers. Such bailouts encourage investors to continue making risky, speculative bets, thereby increasing the instability of national economies.

During the bailout of Asian countries, the IMF required governments to assume the bad debts of private banks, thus making the public pay the costs and draining yet more resources away from social programs.

[Jester] During financial crises -- such as with Mexico in 1995 and South Korea, Indonesia, Thailand, Brazil, and Russia in 1997 -- the IMF stepped in as the lender of last resort. Yet the IMF bailouts in the Asian financial crisis did not stop the financial panic -- rather, the crisis deepened and spread to more countries.

The policies imposed as conditions of these loans were bad medicine, causing layoffs in the short run and undermining development in the long run. In South Korea, the IMF sparked a recession by raising interest rates, which led to more bankruptcies and unemployment. Under the IMF imposed economic reforms after the peso bailout in 1995, the number of Mexicans living in extreme poverty increased more than 50 percent and the national average minimum wage fell 20 percent.

[Jester] NOT REALLY WHERE I WAS HEADED BUT I GUESS IT WILL DO...