"After nearly 6 years of blocking the normal development of systemic transition, a blocking caused by a flood of dollars leading to a renewed artificial global addiction to the US dollar, history is now taking its course. It isn’t as if during these six years nothing has happened.On the one hand, the US has failed to relaunch its economy and the actual situation for Americans has only got worse, and on the other, the emerging nations have used – and contributed to creating – this 'pause' to prepare themselves for the ultimate and inevitably painful stages of completing the crisis which we are now approaching.The Ukrainian crisis and the characteristic aggression against the legitimate interests of one of the major players in the emerging multipolar world, Russia, as well as the US’ attempted annexation of Europe, have blown the whistle for the end of the game. The whole world has thus realized that the US was on its last legs, henceforth dangerous and that it had become urgent to move on."
The BRICS will be having their 2014 Summit in Brazil on July 15, 2014.
The FOMC will be meeting tomorrow.
I am a bit surprised that so little has been said about the somewhat shocking US Supreme Court decision upholding the hardball tactics of the vulture funds with regard to the sovereign debt of Argentina. I may attempt to write something particular about this in the coming week, but let me just say that it is looking like the first lightning flash in what could become the Perfect Storm.
These things have a cumulative effect. I suspect that trust in the government in Washington is falling to historic lows in places other than Main Street USA.
Modern money is a confidence game, a masterful combination of both fraud and force.
All things considered, US bonds looks like a rather precarious place for some people to be, especially given the noises that the Fed is making about erecting barriers to exit for those in bonds funds. And the grants which the Supreme Court has given to the vulture funds in the Argentina debt case has the potential to trigger a series of unfortunate events, with potential repercussions.
Nothing of consequence happened in the Comex gold warehouses the other day. That must mean that all is well.
Few will see this one coming.
Have a pleasant evening.
