TV Shows and Games in America Applied Around the Financial World
- U.S. Dollar in “Jeopardy and Wheel of Fortune” Games
- Euro in the Casino Royale’s Russian Roulette and the Price is Right Games
- By Said El Mansour Cherkaoui
This turmoil is just the first storm in a glass of wine shared between the banking system and the financial sector hold in hostage by the sanctions on Russia, the rise of alternative currency and the fall of dollar, the skyrocketing of the Federal debt, the Rocking of the Kasbah par the OPEC and the impact of rising star of the East with the beam lights of India and China, as well as the shrinking economies of the European Union that sees and witness its relationship with the rest of the world and in particular with Africa shrinking everyday.
Where are the alternatives and the seasonal corrective reforms?
The Fed and the European Central Bank the Twin holding onto the reins of the World Economy that is slipping out of their hands, without cleaning the path to their own houses that is showing needs of deep repairs and remodeling, too many cracks in the walls and shakes of its foundations that we have not seen since the Bretton Woods negotiations or the Nixon Monetary Reforms
Now we have the Challenges and the Emergency together to build a new International not Order like the Fascist Regimes and Father Bush declaration, yes the Shining House on the Hills needs more energy than ever, the Chicago Boys have made the house DARK.
U.S. Financial Policy in the Face of High-tech Clouds
They were waiting for the European storm to pass over the global economy and they kept interest rates on hold until the Fed and Mrs. Christine Lagarde decide that it is no longer possible to have and be in the position of waiting and seeing or waiting for Godot.
Unfortunately, the Fed’s first increase was a response to the financial obstruction of the UK economy but was met with OPEC’s decision to cut oil production, Russia’s decision to only accept rubble as a means of payment and the decision of the Chinese to make the payment only with the Yuan for all external transactions.
These changes have motivated producers of oil in the middle east to advocate change of direction for the OPEC and to seek payment alternatives than the dollar which is a kind of renegating on the era of the petrodollars. Within such scope, following the example of Iran, the hydrocarbon-exporting states of the Gulf Cooperation Council looked for alternative methods and means of payments for their energy production which can afford them “to broaden their ability to transact within both dollarised and de-dollarised zones of the global economy. While these states remain firmly embedded in the US-led economic and security architecture, they still see some advantages in reducing their reliance on the US and its currency.”
The conglomeration of all these geo-economic actions made the dollar the first higher than the euro in the international market while it also increased its vulnerability to emerging markets as it impacted more than 60% debt-ridden countries that are on the verge of default with Zambia, Sri Lanka and Ghana at the forefront of full default.
The recession was no longer on the periphery of Western economies, it was spreading beyond the surge in inflation of energy, commodities and the accessibility of basic foodstuffs by many countries.
Also, Japan has always played the role of antechamber and echo chamber for the American economy since the Reaganomics and Economic School of the Chicago Boys.
Goldman Sachs is cooperating with U.S. regulators in an investigation of its role in fundraising for Silicon Valley Bank, according to a regulatory filing by the banking giant. Shortly before SVB’s March failure, the regional lender sold Goldman a US$24 billion slice of its investment portfolio at a $1.8 billion loss. SVB then asked for Goldman’s help in attracting investors to cover that shortfall — but the efforts were unsuccessful. Investors and rival banks have criticized Goldman for failing to secure funding in advance and “spooking the market,” Bloomberg notes.
- In a separate case, Goldman Sachs is negotiating the settlement of a gender-bias lawsuit dating to 2010, sources tell The Wall Street Journal. The class-action suit accuses Goldman of underpaying female employees and limiting their opportunities for promotions.
- Goldman Sachs Group Inc (GS.N) said in a filing on Thursday it is cooperating with government probes into collapsed Silicon Valley Bank.
Goldman was involved in key events before SVB’s downfall in that month:
Goldman Sachs has been criticized for its dual role with Silicon Valley Bank in the days before it collapsed, both as a buyer of $21bn in securities sold by the California-based lender and as an adviser on a failed equity raise. Now, Goldman has confirmed that its work for SVB is being reviewed as part of government investigations into the tech-focused bank’s failure in March.
The Wall Street bank acquired a bond portfolio on which SVB booked a $1.8 billion loss, a transaction that preceded a failed SVB share sale where Goldman was an underwriter.
Goldman was also among the underwriters named as defendants in a securities class action lawsuit related to several SVB share offerings in 2021 and 2022, it said in a regulatory filing.
The plaintiffs allege offer documents contained material misstatements and omissions, Goldman said in the filing. The plaintiffs seek unspecified damages in the lawsuit, which was filed on April 7 in the U.S. District Court for the Northern District of California.
New Session of Recession and New Ordered Deglobalization
The Federal Reserve is increasing for the third time the rate of interest and this … Continue reading – September 21, 2022 Said El Mansour Cherkaoui
Buddy Boudha this Bud is for you in Blue-chip O mamy Blue it is not cheap, it is Blues in the East and Rocky Rolling in the West Baba Vic for our past time together and the answer is still Blowing in the Wind my Friend, Rollover Beethoven and let Biden Walk on the Wild Side Baby and Just Stand by Xi and Putin – Put In your speed self-drive toward the Silicon Valley Bank, First Republic and Credit Suisse to cross borders and ravines of hidden treasures by the wave of implosion of the Dollar on the edge of world precipice and the edge of funds in the crypted crypto scams dispersed by the ghostech and robotecs genius cons without creating any value other than their own.
3/30/2023 Inflation threes make it a forest of recessions and crises in the dating system and socializing trends – Keep your distance and let others to be on their own: We did it our Way comme d’Habitude.
Redefining Banking Globalization
by Said El Mansour Cherkaoui – Readers and Friends It is our pleasure to … Continue reading – March 20, 2023 Said El Mansour Cherkaoui
First Republic Bank: Domino Effect of Silicon Valley Bank Slide
First Republic Bank is still reeling from the March crisis that felled Silicon Valley Bank, Signature Bank and Credit Suisse. On an earnings call on Monday April 24, 2023, the imperiled lender said it will slash executive pay and trim 20 to 25% of its headcount as it tries to recover from a deposit run that saw customers withdraw $102 billion last quarter. Like SVB, First Republic had numerous startup clients and accounts that exceeded the FDIC’s $250,000 insurance limit. Many thought it would be the next bank to fail, until several large lenders provided a $30 billion lifeline.
- First-quarter profits at First Republic were down 33%, from $401 million in 2022 to $269 million this year. Revenue fell 13% to $1.2 billion.
- The San Francisco-based regional bank said withdrawals have stabilized.
17/12/2022
The American way to make money to fly when the limit is the sky
Regarding FTX and the Madoff analogy, here is another one:
In 2008, #hedgefund accountants turned a blind eye to questionable valuations of private assets. There was a whole category of funds that showed great results with virtually no volatility – smoothing returns at its best. A #hedgefund specializing, for example, in private lending might say: “hey, the accountants approved it”.
Madoff was a wake-up call – in December 2008, accountants realized they could be held responsible for misleading net asset values. So they turned the screw and soon some hedge funds were forced to write down assets held at invented values.
Clearly, the accounting profession as a whole kept its distance from #crytpo, perhaps based on what they learned at the time. But the article below in Bloomberg suggests that any company active in space will be in a mad rush to figure out whether teams focused on this area followed reasonable professional standards or, as we keep hearing, got hit. and compromised. Those who find problems will prepare briefs to help regulators try to limit reputational and financial damage.
“The United States is spending an extra fraction of its defense budget to pay American industry, which in turn arms Ukraine as it dismantles the Russian threat to Europe.” Kurt Volker.
Tags: Africa, South America, Asia, China, International Finance, Subcapitalism, European Union
Analysis of BRICS without adding any Brick
Brics by Brics Building Alternative International Financial Institution
Lula meeting Xi: BRICS piece by piece building peace
Brazil to Be or not to Be Peace-Maker in BRICS Brazil’s President Luiz Inácio Lula … Continue reading Lula meeting Xi: BRICS piece by piece building peace – April 13, 2023 Said El Mansour Cherkaoui
December 13, 2022 Said El Mansour Cherkaoui
The pre-eminence of British banks such as Barings and Rothschild Brokerage and bankers who trace their profits in the arms trade contingent on the mercantilist trade of Iberian colonialism in Latin America. The change in the epicenter of world trade had caused continual functional losses to those banking and monetary systems identified in the claim of imperial domination and conquest.
These changes were first enacted by the British Crown courtesans of Britain who promoted the Classical School of economic thoughts which addressed value and money with Adam Smith and David Ricardo which sparked the response of Karl Marx, going through all the changes taking place in Europe giving their inter-bilateral wars and the rise of fierce competition to conquer colonies following the loss of the Northern Hemisphere by the British Crown.
New forms of exchange across the world have been established in the form of liberal trade and direct transfer of value through the establishment of a direct line of exchange and the transfer of value has been accentuated in Latin America by the abolition of the slave trade and the “newly emancipated slaves” transformed into wage earners. – salaries but more masses of unemployed in the cities as in the “Champs des Cauchemars”.
Territories and countries that remained outside the capitalist market system faced first liberalism and later the direct intervention of chartered colonial companies in London and other European financial centers. Foreign debt has become the spear that crosses the shield of resistant countries to join the liberal flow. From India, Central Asia, China to North and South Africa and the Middle East with the “sick man of Europe”, waves and storms have invaded them and have first accelerated the rise of the Communist Soviets and in two consecutive world wars and later broke the gold trading system and paved the way for the first clashes over money and not territories.
This all harkens back to when John Maynard Keynes tackled the issue of monetary value during the Bretton-Woods and all the way back to the monetarists of Friedman and the Economic School of Chicago and their Avatars as technocrats-military-bureaucrats of Latin America, which was relayed by the Arab boycott and the quadrupling of the price of oil followed by waves of stagflation and we have seen how this to be the stimulus to impose regimes that rely on their ideological colors, Red you are , Red you will be marginalized and do not cross the line drawn in the sand. Against this we have “Pueblo Unido Jamas Sera Vencido” and “No Passaram”.
Populism, the defense of Western and Christian values and socio-fascism became the new popular formula fueled by the masses by the regimes that collaborated with the new form of multinationalization of capital and circulation of money.
BRICS PLUS give birth to a new payment system and a new currency in preparation
The BRICS countries have seen an increase in popularity as developing markets sharing substantial common characteristics including less developed but fast growing economies, burgeoning populations, influential governments, and the inclination towards embracing global markets (more on this at the following reference).
The emerging economies of Brazil, Russia, India, China and South Africa (BRICS) have significant influence on the global market and the global financial transactions.
The question addressed by this video and this presentation remains important for the future of the world not only commercial, economic, political, and financial but especially on relaxation and mutual understanding as well as the common solidarity which can and must exist between peoples of different regions of this world.
It’s really poor as an explanation and really a waste of film and time watching nonsense.
They use photos and photos whereas it is the analysis which should be the object and the objective of a presentation on the BRICS and the alternative of the international monetary system inherited and imposed by the Bretton Woods agreements of which John Maynard Keynes had predicted his downfall.
The other absence of mark is what caused the first great inflation and recession after that of 1930, namely the quadrupling of the price of Oil during the Yom Kippur War and the Petro-Dollars from the beginning of 1970 and the end of the convertibility of the dollar into gold. the avalanche of credits and loans distributed like “ticking time bombs” in Latin America and Africa by vile bankers wanting to get rid of the excess dollars circulating in the world and this at any price and with overwhelming conditionalities and exorbitant interest rates bordering on disaster for creditor countries (the new financial imperialism is allied with neo-colonialism to give rise to sub-capitalist structures around Cape Town
Euro-American central Italianism) and this with the help of the World Bank and the International Monetary Fund (the troublemaker twins born of the Bretton-woods agreements). This is what has happened since then, there is no talk of the evolution of the monetary policies advocated by Europe – EEC, EC, EU and ECB, Reserve Federal Bank and the USA, China and Russia and in this clip no explanation is presented at these levels.
Skyrocketing inflation, stagflation, external deficits, depression and recession allied to the brokerage and corruption of Technocrats, Bureaucrats and their military allies seized power and shattered all claims of liberation and national development based on the use of local, regional and national resources. In the part of the world outside the sphere of Soviet control, communist ideology and the policy of “containment” are used as an excuse for the elimination of all representation of social democrats and workers within the framework of a militarization of the regimes. in the countries of the South, the surge of multinationals and the takeover and monopoly of international circuits of distribution and division of labor as manufactured products with higher added value. Forced immigration becomes the way to draw human resources from countries subject to such practices of spoliation and depletion of local natural resources.
The Middle East becomes the scene of international confrontations just to dominate oil exploitation and its international distribution. The seasons become popular pseudo-revolutions manipulated from the outside with even armies of mercenaries converted to a new Islamist religion which had no reason to exist other than to frighten the rest of the world and present Islam as the continual threat older than fallen communism since it dates from before the Middle Ages, the Modern Crusades are at the time of day and serve as a catapult for all Western military interventions in Afghanistan, Iraq, Libya, Somalia, Syria coupled with military base facilities not only in the south of all Muslim countries in Africa, the Middle East, Central Asia and even at the gates of Russia.
These military movements had also imposed with them the expansion of Western financial circuits since the control of natural resources and the denomination of the corresponding transactions and military and civilian orders are all formulated in Dollars and Euros through banks, financial centers including Swift which are centered and installed as well as controlled by occult Western financial powers with the help and support if not the guarantees of the Western chancelleries of the European States forming the central framework of the financial decision of all the European Union, United States of America and through private and public central banks including the World Bank, IMF, OPIC and their regionalized agencies. To cite just one example, the Banque de France continues today to collect enormous sums and gold from African countries which were integrated into the Franc Zone in Africa and which only Guinea under Ahmed Sékou Touré had refused. such forced subjugation and we know how Guinea was punished and marginalized as a result of the world financial circuit.
Saddam Hussein was hanged and Kadhafi was executed not because they were dictators and Hitler’s reproductions, but only because they wanted to distance themselves from the Murderous Dollar erected by these multinational banks which want to keep transfers under their domes international and international gold deposits, while they only print and serve paper in exchange. If the West really was in pursuit of eliminating despots and dictators, we can go all the way back to Franco, Salazar, and down to the Shah, the Presidents of South Africa, Rhodesia, the Philippines, Indonesia, Central and South America, and all those regimes that have committed genocides in North Africa, Sub-Saharan Africa, Asia and even North America. It is not enough just to change the name of squares, avenues and dismantle statues and emblems to correct a past full of abuses and massacres, and all of this leads just to impose a financial model for the resolution of abusive and exploitative transactions. local natural and human resources for the benefit of supporters of the international market and the globalized monetary circuit.
Currently, the sidelining of the leaders in Latin America was started by that of Fujidomo and Ignacio Da Silva Lula who had had the misfortune to become president after a civilian interim which had succeeded the Military Regime install by Castello Branco in 1964 and which lasted until the eve of the mid-seventies with the appointment and approval of the military of their civilian allies in the person of Tancredo Neves and Jose Sarney.
He became President of the Federative Republic of Brazil after President-elect Tancredo Neves fell ill (he underwent emergency surgery on March 14, 1985, hours before his scheduled inauguration, but did not die until April 1985 of complications from his disease). Originally, Sarney was to be the vice-president of the Republic, which was returning to democracy for the first time since 1964 and the start of military rule. To avoid a vacancy in the presidential post, provided for by the Constitution, Sarney was sworn in on March 15, 1985, with a view to ensuring what was then thought to be an interim period of about a week. The death of Neves will decide otherwise. Brazil’s three main problems were urban poverty, high inflation, and a huge foreign debt.
To fight against the hyperinflation affecting the country, José Sarney decided to implement a heterodox economic plan, like other Latin American leaders, such as Raúl Alfonsín in Argentina (1983-1989) or Alan García in Peru. (1985-1990), wishing to embody an alternative to the recommendations of international financial organizations, such as the IMF, which advocate the adoption of neoliberal economic policies. The Sarney plan includes, among other things, the freezing of prices, the adoption of the cruzado, which replaces the cruzeiro (1 cruzado = 1000 cruzeiros), the freezing of the exchange rates of the new currency. At first, the plan succeeds in containing inflation, but it picks up again very quickly, because the structural causes of hyperinflation are not combated. Sarney’s successors, starting with Fernando Collor de Mello, followed neoliberal policies in accordance with the recommendations of international financial organizations.
BRICS and the Building of Financial Great Wall
Said El Mansour Cherkaoui – International Affairs Analyst
July 1, 2015
GREAT BREAK TIME FOR BRICS:
From July 2014 to July 2015, the BRICS group, the new emerging economies of Brazil, Russia, India, China and South Africa signed a Memorandum of Understanding to create a new international financial institution capitalized with $200 billion of liquidity. This banking organization was projected to act as BRICS Development Bank with $100 billion along with a reserve currency pool worth over another $100 billion.
On July 2015, in China, the New Development bank, also known as the BRICS Bank, has been approved by the Standing Committee of the National People’s Congress during its meetings that are actually taking place until July 1, 2015. India and Russia had already agreed on this creation and South Africa is expected to present ratification documents in July during a meeting of BRICS countries in the Russian city of Ufa.
THE BRICS FACTORY OF GROWTH AND DEVELOPMENT:
In terms of demographic and economic standards, the BRICS are becoming heavy weights challengers for the New World Order inherited from the Presidency of Father Bush. The group BRICS has 42 percent of the world’s population and roughly 20 percent of the world’s economy based on gross domestic product, and 30 percent of the world’s GDP based on purchasing power parity. * The total trade between the BRICS’ countries is $6.14 trillion, or nearly 17 percent of the world’s total. They also account for 11 percent of global capital investment. China, India and Brazil are also ranked among the largest economies in the world with more than $2 trillion, €1.25 trillion by nominal GDP.
In 2015, the members of this privileged “Elite” club were the United States, China, Japan, Germany, France, the United Kingdom and India. Their ranking in respect to respective GDP in trillions of U.S. dollars is the following: USA $18.1 – China $11.2 – Japan $4.2 – Germany $3.4 – U.K. $2.9 – France $2.5 – India $2.3 – Brazil $1.9 – Italy $1.8 – Canada$1.6.
THE STRUCTURE OF NEW BRICS DEVELOPMENT BANK:
Each member of the BRICS will have a seat for their Finance Minister or Central Bank Chair at the Bank’s Representative Board. The other innovation is that membership is not just limited to BRICS economies such is the case in other international financial institutions. The BRICS Bank will be headquartered in Shanghai, with India presiding it during the first year, and Russia serving as the chairman of the representatives. During the BRICS and the Shanghai Cooperation Organization (SCO) summits in the Russian city of Ufa, Anton Siluanov has been appointed Board Chairman of the New Development Bank, he is the current Russian Finance Minister. Similarly, it has been agreed that an African regional center of the NDB bank will be established in South Africa.
In recent interview conducted by RT, the New Development Bank president Kundapur Vaman Kamath declared a “significant part” of the bank’s activity could be carried out in local currencies. “I have not applied my mind as to what effect it will have on other currencies. But as far as our local currencies are concerned, our own countries are concerned, that will substantially reduce any exchange risk.” He also projected that by April 2016 the New Development Bank will issue its first loan.
Mr. Kamath added: “I think clearly setting up of this bank is also a signal that developing countries are now able to stand on their feet in their own way and set up their own institutions. We are really looking at expanding the membership base in the future.” In this perspective, joining the Development Bank remains open to other emerging countries, such as Mexico, Indonesia, or Argentina, once it sorts out its debt burden.
The initial funding came from each BRICS member that will contribute an equal share in establishing a startup capital of $50 billion while the full participation is $100 billion. This capitalization represents a crisis lending fund and is called the Contingent Reserve Arrangement (CRA). China contributed with $41 billion while Russia, Brazil and India will add in $18 billion, and South Africa, the newest member, will contribute $5 billion. The contribution of 39.5 percent will give China the largest voting rights.
On the 7/9/2015, Russian President Vladimir Putin is meeting BRICS leaders in an expanded format at the BRICS and the Shanghai Cooperation Organization (SCO) summits in the Russian city of Ufa which took place on July 8-10, 2015. The Summit in the Russian City of Ufa become the craddle for the official launch of the New Development Bank and the designation of its leaders. in the same perspective, the BRICS countries agreed to put in place a $100bn reserve currency pool which aims to protect the member states – the emerging economies of Brazil, Russia, India, China and South Africa – from currency volatility shocks. This is one of the reasons, the summits agreed that the association will start using their local currencies for mutual settlements quite soon.
In fact, the continuity of the financial imbalances of the western economies added to the unpredictability of their financial institutions and their budgetary deficits had added more concerns to the BRICS members and have motivated them to sustain the creation of the New Development Bank, an alternative and a supplement to existing international “hard currency” financial institutions.
THE NEW ALTERNATIVE TO THE UNION OF WESTERN BANKS:
The idea behind these financial moves is to create structures that will help to lessen dependency on the West and to create a more multi-polar world. Other implications are a design to protect against the instability and the fluctuations of the Western based currencies. The BRICS BANK is sought to provide also financial means and resources to counter the influence of Western-based lending institutions and the US Dollar, especially at the wake of the current financial turmoil traversing the western economies and the regional conflicts generated by the consequent race for the natural resources around the globe.
Within such frame, the long domination of the US Dollar since the signing of Bretton Woods Agreement and the Nixon Administration’s creation of the Petro-dollars (1973 oil crisis) are starting to show some fissures and weakness in the resolution, remittance and refinancing of international transactions.
Furthermore, the western-based banking system and the recent Libor scandal and other related fraudulent behaviors and abuses coupled had increased the reluctance of Emerging economies to continue to be financed through a system that relay only on lending volume as the key metric for success. Similarly, the development and the integration of technology-oriented methods of resolution and transfer of assets and financial denominations have added more determinations to the Emerging economies to establish their own channels to finance their infrastructures and funnels directly their funds without intermediaries. These technological advances have also facilitated the consultation and the planning of infrastructural projects to be financed as joint development ventures by the BRICS economies for their own countries and for the rest of the developing world.
Additionally, the need of alternative global financial instruments is increasing given that the trade is bilaterally developed among emerging economies and between them and the rest of the developing world. For these reasons, the financial institutions and facilities offered by western societies such as the IMF, the World Bank and the OPIC and their regional agencies are considered as organizations dominated by western shareholders which add more challenges for projects oriented toward the development of national resources and the related infrastructure. Within such perspective, the other bank being promoted by China as an alternative to existing development institutions, such as the IMF and the World Bank, is the new Asian Development Bank, known as the Asian Infrastructure Investment Bank, that was established in October 2014. Britain and Germany are listed among its 57 member states.
To avoid such hurdles and to reduce cost and time in terms of realizations, the emerging economies are developing regional free trade blocs and treaties that are engaging their financial resources as well. For these reasons, the Members of BRICS are seeking to reinforce bilateral trade relations without relying on the evaluation or the approval by Western based decision making. The other aspect is the total fees charged by the related lending institution and the influence of the dollar in the development of the international trade of commodities and primary goods.
The implications of all these new forms of competitiveness at the level of financial transactions and their far-reaching impact on the balance of payments, especially the current accounts of the countries concerned, it is without equivoque that new currencies are going to be emerging within certain trading blocs before to reach an international acceptance. The establishment of these regional banking institutions that aim to be a global player are the first signs of such move.
Additional Notes for Clarification:
For more on the BRICS and the Shanghai Cooperation Organization (SCO) summits in the Russian city of Ufa, see the video on the following link:
http://rt.com/on-air/putin-meets-brics-leaders/
N.B.: * The aforementioned indicators are reflective of tendencies and not realities of economic situations and social conditions. For this reason, they have to be considered as reflective of selective and comparative performances given the fact that the world economy can be defined, estimated, evaluated, but also can be expressed in various other forms and indications. “It is unclear, for example, how many of the world’s 7.13 billion people have most of their economic activity reflected in these [aforementioned] valuations.”
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Dr. Said El Mansour Cherkaoui is based in California where he resided for the last 35 years: he is a published author in French and English languages in France, United Kingdom and the United States. He participated in numerous international conferences and events, acted as Principal Consultant for several governmental agencies and institutions in the United States, Asia, Africa and the Middle East. Dr. Cherkaoui is recognized by his peers as International Analysts, Conference Speaker, Scholar and Editor of several Online Newspapers.
Dr. Said El Mansour Cherkaoui can be contacted at saidcherkaoui@triconsultingkyoto.com
Said El Mansour Cherkaoui – 79 articles
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