Global Economic Reset – When Will the Economy Restart?
By Dominick Giammarino
January 26, 2015
The Global Economic Reset has been planned for many years. If you are asking yourself What is an economic reset? It’s mainly when the global economies decide on a new monetary system. Here is what you need to know about it. First, the United States Dollar will cease to be the world reserve currency. If you live in, or you deal directly with the United States, you will find that this single event would cause the United States Dollar to lose a minimum of 30% nearly overnight. Long-term depreciation of the Dollar should be expected. Israel and many other nations who depend on the United States will be left to fend for themselves. Our troops currently serving overseas will want to return home as quickly as possible once they realize that their currency is no longer being accepted overseas. The men and women of the United States Armed Forces would not want to continue serving when they cannot purchase the items they need.
“Basel III” is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector. These measures aim to:
- improve the banking sector’s ability to absorb shocks arising from financial and economic stress, whatever the source
- improve risk management and governance
- strengthen banks’ transparency and disclosures.
The reforms target:
- bank-level, or microprudential, regulation, which will help raise the resilience of individual banking institutions to periods of stress.
- macroprudential, system wide risks that can build up across the banking sector as well as the procyclical amplification of these risks over time.
These two approaches to supervision are complementary as greater resilience at the individual bank level reduces the risk of system wide shocks.
Global Economic Reset – Global Currency Revaluation
Global Economic Reset – Basel III
Check out this document on the Bank of International Settlements website: http://www.bis.org/bcbs/basel3.htm
Fabian Calvo from the YouTube channel Fabian4Liberty is another guy who mentions the global economic reset. I enjoy Fabian’s work, as he tell you to, “Do your own research.” Very few people do this, I do this as well, I try to provide documentation for everyone. Anyone can just sit and watch CNN, or sit and watch YouTube videos each day, and rather than check the internet to verify the statements, they just dismiss it. You are doing yourself a great disservice by not actively participating, it’s not hard to double check what someone says. Don’t believe everything you hear or read, please do your own research because once you verify a statement is true, you will be more confident when you share it with someone.
Global Monetary Reset is also known as the Global Currency Reset, which is what this site is based upon.
What is a Global Reset and how will it affect you and your family?
What Does Global Reset Mean?
Global Reset of Currencies will only happen when the powers that be are 100% certain that they are ready for the repercussions.
BASEL I. In 1988 you had multiple bankers meeting in Basel, located in Switzerland, at the bank of International Settlements, known also as the BIS.
a faceless, unelected group of bankers met in Basel, Switzerland at the Bank for International Settlements (“BIS”) – the “Central Banker’s bank” which even Swiss authorities may not enter – and in their “Basel I accords” agreed to a set of minimum capital requirements (8%) for banks. This was a number fine for some banks, but higher than what was in place for France and especially Japanese banks. To raise more capital to reach the 8% level, French and Japanese banks had to reduce loans, causing a recession in France and a depression in Japan, one from which Japan has never fully recovered.
BASEL II. In 2004, the same group met and agreed to Basel II (“The Return of Basel I”)– which required banks to value their capital based on market values, or “mark-to-the-market.” These rules were approved for the US on November 1, 2007. The declining housing market set off a chain reaction due in part to Basel II which banks knew was coming and constricted credit in anticipation of. The next month, December, 2007 the stock market collapsed and the Great Recession began in earnest. This should have been no surprise to the Japanese, nor to the BIS bankers. Full implementation of Basel II was subsequently delayed in the US until 2009. Basel II has been blamed for actually increasing the effect of the housing crisis as banks had to reduce lending to increase their capital as the value of mortgages they hold declined. This produced a downhill snowball effect on home prices and then on nearly everything else as lending and the economy contracted.
BASEL III. Not content with two massive regulatory failures, the same bankers have now produced Basel III (“The Revenge of Basel I & II”). Like Basel I & II, Basel III increases capital requirements yet again, in a series of steps beginning in 2013 with the start of the gradual phasing-in of the higher minimum capital requirements not completed until 2018. The BIS bankers have imposed this and are forcing their home governments to get in line, as has the UK, the US and most other developed nations. It is truly a global rule by central bankers acting in concert/cabal.
An OECD study estimates that the medium-term harmful impact of Basel III implementation on GDP growth is in the range of −0.05% to −0.15% per year – just what’s needed in a worldwide recession! To meet the capital requirements effective in 2015 banks are estimated to need to increase their lending spreads on average by about .15%. The capital requirements effective as of 2019 could increase bank lending spreads by about .5%. Rising interest rates could significantly hurt small bank capital positions because a 3% upward swing in interest rates could drop a bank’s capital by 30%, placing the bank in an undercapitalized position, forcing it dramatically to reduce loans. Again, the downhill snowball effect. A global economic reset is on the horizon, with Basel 3, it could happen next near, but not 2014, no way. Wait until 2015 for a global economic reset and not a minute sooner. I don’t care what you hear on the dinar calls, the IMF is not ready.
Final Thoughts on the Global Economic Reset
The proposed Basel III regulatory capital requirements are an immense and unnecessary burden that will actually threaten the existence of banks with under $1billion in assets. These new regulations will further drive consolidation into a few bigger banks. Some on Wall Street, like mergers and acquisitions expert John Slater, predict that Basel III’s compliance costs will lead to a merger boom, and that in the next 3-5 years 20-30 percent of all banks will merge, further consolidating wealth in fewer and fewer hands. That is the object – world bank/economic and hence political control by a handful of unelected, unaccountable, international bankers beholden to no one, many of whom have ethics only Machiavelli could admire and worldviews that most people on earth would consider abhorrent.
If there is a Currency Reset 2014 I will be very surprised. Seem to me the Economic Reset 2014 is too close, I don’t expect it until after September 2015. I could be wrong, which is why I’m prepared now if it happens sooner, but either way, it won’t affect me as I’m ready.
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