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11.21 Air pollution cuts two years off global average lifespan, says study

11.20 Dead fish to power cruise ships [using dead fish to ultimately kill more fish, animals and plants but at a slower rate]

11.20 Importing gas to replace domestic supply could push emissions up 20%, AGL says [We have to stop killing everything!!!]

11.20 The arts have a leading role to play in tackling climate change [We have to stop killing everything!!!]

11.20 Indonesia: dead whale had 1,000 pieces of plastic in stomach [We have to stop killing everything!!!]

11.18 How Extreme Weather Is Shrinking the Planet

11.18 Air pollution levels ‘forcing families to move out of cities’ [like from desertification, lack of drinkable water and rising oceans, there will also be pollution-caused immigration until humans fix things]

11.17 Policies of China, Russia and Canada threaten 5C climate change, study finds [Climate catastrophe is increasingly likely without worldwide organization, funding and commitment to winning THE WAR AGAINST GLOBAL WARMING.]

11.16 Scotland was first Industrialized Country to Run wholly on Wind in October

11.16 How pesticide bans can prevent tens of thousands of suicides a year [how many thousands more die early from eating pesticide-laced food?]

11.15 The Earth is in a death spiral. It will take radical action to save us [fossil fuel burning, un-recyclable plastic production/use and methane gas release must cease ASAP.]

11.15  The long read:  The plastic backlash: what's behind our sudden rage – and will it make a difference? [the world wants to throw-up...]

11.15 Claws out: crab fishermen sue 30 oil firms over climate change [workers are waking-up...]

11.15 Trump administration to cut air pollution from heavy-duty trucks

News Media Matters

11.19 The Biggest Threat to Free Speech No One Is Talking About

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

11.21 With Statement Equal Parts 'Dangerous' and 'Imbecilic,' Trump Smears Khashoggi and Vows to Back Murderous Saudis [Keeping oil prices affordable prolongs its use, its burning and our dying]

11.21 Sen. Cindy Hyde-Smith's Demands for Runoff Debate So Ridiculous, Viral Story Crashes Local Paper's Website

11.20 'Get Our Country Off Fossil Fuels': Demanding Green New Deal, Youth Climate Leaders to Flood Congressional Offices Nationwide

11.20 New York City subway and bus services have entered 'death spiral', experts say [death spirals are the end-thing nowadays]

11.19 Last Week Tonight with John Oliver 11/18/2018 (HBO) [29:26 video]

11.19 Michael Bloomberg: Why I’m Giving $1.8 Billion for College Financial Aid

11.19 Trump’s Diminishing Power and Rising Rage

11.19 Trump Says He Was 'Fully Briefed' and Also 'Not Briefed Yet' But Either Way Saudi Crown Prince 'Absolutely' Not Involved Because Trump Knows 'Everything That Went On' Without Listening to Tape of Khashoggi Murder

11.19 'We Need New Leaders, Period': Progressive Newcomers Urge Democrats to Embrace Bold Agenda or Face Primary Challenges [Current Democrat leaders are highly compromised by corporate donations]

11.19 SNL explains Jeff Bezos and Amazon’s HQ2 strategy: trolling President Trump [2:55 SNL video]

Justice Matters

11.21 Acting Attorney General Matthew Whitaker got $1.2 million from non-profit that won’t disclose its donors [Mafia rule...]

11.20 'He may not rewrite immigration laws': Trump's asylum ban blocked by federal judge [Has anyone thought about putting razor-wire around the White House?]

11.20 Legal Blue Wave? New Democratic AGs Could Change the Face of Climate Fight

High Crimes?

11.21 Saudi Arabia Accused of Torturing Jailed Women’s-Rights Activists [Trump's great friends...]

11.14 The Guardian view on Yemen’s misery: the west is complicit [WAR CRIMES]

Economics, Crony Capitalism

11.21 Nationalize California’s Pacific Gas & Electric

11.19 Bankrupt Sears wants to give executives $19 million in bonuses [blatantly immoral and sick to richly reward those who led the company into the bankruptcy]

11.18 Big Pharma Bankrolled Pro-Trump Group As Trump Pushed Pharma Tax Cut [Corruption Central!]

International & Futurism

11.21 'Who let this happen?': students rediscover antisemitism on Auschwitz field trip

11.21 Climate activists block London bridges in 'swarming' protest – video

11.21 How populist are you? Take our quiz to find out

11.20 Trump administration hawks putting US on course for war with Iran, report warns [“Stupid is as stupid does.” –Forrest Gump]

11.18 New Evidence Emerges of Steve Bannon and Cambridge Analytica’s Role in Brexit

11.18 France demands UK climate pledge in return for Brexit trade deal [Excellent!]

11.17 Saudi crown prince's 'fit' delays UN resolution on war in Yemen

11.17 Thousands gather to block London bridges in climate rebellion [We're losing WWIII because the enemy is invisible while we're like frogs slowly cooking. We aren't informed enough to be alarmed, but must get organized and motivated to fight back. We need a War Plan to ruthlessly pursue the fight of our lives!]

11.17 CIA finds Saudi crown prince ordered Jamal Khashoggi killing – report

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  Thinking About Reserves

COMMENTARY:

Thinking About Reserves

How can we know a dollar's value if we don't know dollar reserves?

by Fred Cederholm
I am convinced that very few know how many pallets full of US currency are sitting in the vaults worldwide! Those who know aren’t talking, and are getting worried BIG time! None will share their growing concerns publicly.

I’ve been thinking about reserves. Actually I’ve been thinking about currency, the US Dollar, the EURO, the Ruble, the “GLOBIE,” the Yuan/Renminbi, and perceptions. Almost all of the recent talk and economic debates have focused on deficits, debt, and printing more money. The headlines tell us how the US is heading to a financial Armageddon, the EURO is about to implode, BP may not survive the ramifications of the Gulf oil leak, and this will be a Summer/Fall of bankruptcies at all levels --- personal, corporate, local, state, and Federal. News rarely springs upon us without notice. Prophetic pundits and writers are always playing the harbingers of what is to come. For the most part they are proven dead wrong. Or, if you wait long enough every prediction becomes at least partially correct. Still... now and then, there are the occasional stories which surface (maybe even in clusters) that should put us on the alert for coming changes. I feel we are witnessing such an occurrence right now.

You see with all the talk about the negatives hovering over our planet, SOME governmental units and figures, entire countries, corporations, banks, and individuals are doing VERY, very well. Locally, the news is shaping up just fine. The corn will be knee high by the 4th of July (it is already waist to chest high now.) Roads are being fixed. Pot holes are being filled. And, the local SUPER (DUPER) Wal-Mart in Rochelle, after years of bickering and delays, will commence construction. I had another great blood test. My walking continues to improve. God is in his Heaven and all is right with the home front world!

When “you” find your own situation improving, you increase consumption/ spending, or you save and accumulate assets and wealth in the form of reserves. Reserves are good, or they can be. Yet, there is a negative side to this favorable situation as well. Money (yes, even the fiat currency with nothing but promises and hot air behind it) is a major store of value. Up to World War II, the British Pound significantly ruled the roost, but it was beginning to lose ground to the US Dollar. The global boom post WWII pushed the Buck to the forefront. Any connection of gold or silver to money ended in 1972. Paper and promises ruled! The US sold far more than it bought, and US/us literally became the “paper” owner of the world --- we held far more global currencies in reserve than anybody. (He, who has the most toys, wins --- and we were “winning.”)

American consumption of all things “foreign” soon reached a frenzied pace. Decades of trade deficits and a growing globalism saw much of our accumulated surplus (or reserves) evaporate. We still hold untold bunches of “goodies and stuff,” but we have devolved from the world’s greatest creditor, to the galaxy’s biggest consumer/borrower. Not to worry... the dollars accumulated and held world wide “were” as good as gold, or were they? For some time now, the US Buck has been the world’s reserve currency. It is the official currency of OPEC --- you want OPEC energy, you gotta pay in US Dollars. You used to be able to go to the US Treasury website and readily determine how many Bucks and Dollar denominated equivalents were out there. The numbers became gargantuan, and the M’s (or money supply numbers) were “consistently” compiled. I am convinced that very few know how many pallets full of US currency are sitting in the vaults worldwide! Those who know aren’t talking, and are getting worried BIG time! None will share their growing concerns publicly.

Concerns have sent the moguls of the world looking for an alternative to the Dollar. Their search has been hard --- and futile. There are just too many Dollars being held out there and there is no one substitute out there either. Any change over WILL occur eventually, but it will take years! Many writers/ economists/ monetarists saw the EURO as the coming substitute. The Treaty of Maastricht convinced me otherwise due to the limitations and constraints placed upon printing of EUROs. Events in Greece have taken a toll, and we have yet to see full impact of Portugal, Italy, Ireland, (Greece) and Spain -the PIIGS.

Two years ago as a guest on the Venezuelan News Hour, I foresaw (or proposed) an energy backed currency. Very few nation states are in a position to issue a therm or BTU backed money. These include Russia, Saudi Arabia, Iran, Iraq, and Venezuela. None of them are really on the world’s A-list right now. Last week, Medvedev of Russia foresaw the Ruble (energy backed???) becoming a world player in the reserve currency system. Is this the first feeler being put forth on what I suggested two years ago? Would the Russian Ruble Become the world’s first “THERMIE?”

We also saw a mock up of a new global coin enter the game, the “GLOBIE.” What would be its backing, or guarantees? Who would issue it? There were rumblings of a much needed re-valuation of the Chinese Yuan/Renminbi. What would the Chinese monetarize in any global play to enter the world’s reserve currency stakes? Their unending supply of cheap labor? Time will tell... Ah to live in interesting times...

I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.


Copyright 2009 Questions, Inc. All rights reserved. Fred Cederholm is a CPA/CFE, a forensic accountant, and writer. He is a graduate of the University of Illinois (B.A., M.A. and M.A.S.). He can be reached at asklet@rochelle.net.



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This story was published on June 21, 2010.

 

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