EU banks are requesting a year delay in the implementation of the Basel III because US banks have not implemented these capital control rules. The Basel III was the world’s regulatory response to the 2007-09 financial crisis that would force banks to triple the amount of basic capital they hold. In short, international banks are going to wiggle out of monetary restrictions and return to the criminal status quo.
Goodbye Petrodollar, Hello Agri-Dollar?
The days of the petrodollar “as defined” may be over. With that said, the primary commodity imbalance that will shape the face of global trade in the coming years is not that of energy, but that of food. The biggest winners will be Brazil, Canada, and the US while the biggest loser would be China. In short, farmers could easily be the sought-out profession in the future. Of course, the Agri-dollar may play second fiddle to the aqua-dollar.
India Tries To Avert Downgrade
Top Indian officials said they will cut the widest budget deficit among the world’s largest emerging markets and curb public debt. Standard & Poor’s and Fitch Ratings lowered India’s sovereign credit outlook this year, citing a widening budget deficit. In short, India is on the path that Greece was on and India has a lot more physical gold to give to international bankers. This is another tactic, taken by India’s Central bank, to dematerialize gold and make it imaginary in that country.
Adult Diaper Boom
In Japan, more adult diapers are being sold than baby diapers. In fact, this is a pronounced trend all over the developed world. As people live longer and as fertility rates fall, there is a proportionately a larger and larger population of elderly retirees being supported by a proportionately smaller and smaller population of young workers paying taxes and interest on debt. In short, a society with a high debt, with a high average age, is simply going to collapse upon itself.
Marked for Food Stamps
Although in the research phase now, the USDA has another big brother device for the people. To clamp down on food stamp fraud of duplicate participation, not the misuse of food-stamps, people on food stamps may have to receive a RFID chip to be in the food stamp program. Remember the days when people used to be embarrassed to show they were on food stamps?
Virtual Doctor Visit
As a precursor to what is coming to the US, many doctor appointments in the UK, will be done virtually over the internet using Ipads and Skype. Yes, instead of paying to see the doctor, people will pay to connect to one online. Of course, older people, who do not have access to the internet, may lose out. Also, does this mean that if you friend your doctor on Facebook, you will get another deductible removed from the bill?
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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