NOV 23, 2021
Biden’s Foolish Effort to Reduce Oil Prices by Tapping Reserves Will Fail
The White House announces a coordinated release of oil reserves along with China, India, Japan, the U.K. and South Korea to ease gasoline prices.
Strategic Oil Reserve Purpose
The Strategic Petroleum Reserve is a stockpile maintained by the Energy Department to preserve access to oil in case of natural disasters, national security issues and other events.
The reserves are stored in caverns created in salt domes along the Texas and Louisiana Gulf Coasts
Historical Development of Economic and Monetary Policy
1.14 However, the ‘snake’ ran into multiple problems during the 1970s, as Member States failed to adequately co-ordinate policies in the face of major external stresses, such as the US ending the Bretton Woods system in 1971 by breaking the dollar’s convertibility to gold, and the 1973 oil crisis. By 1977 only five of the Community’s nine Member States had managed to stay inside the system, and it became clear that the goal of the Werner Report (a full EMU by 1980) was badly off track.
1.15 Instead attention then focused on developing a less ambitious approach, namely exchange rate management through the European Monetary System (EMS), an idea put forward in 1977 by Roy Jenkins, the then President of the European Commission.4 The EMS, created in March 1979 in a more limited form than that put forward by the Commission, involved a deliberate degree of flexibility, both in terms of the relatively wide bands that were permitted, and through the fact that collectively agreed devaluation and revaluations were permissible within the system. Such valuation changes happened on a number of important occasions, including the major French devaluation of 1983. Initially, a 2 In 1969, the then EEC consisted of the six founding Member States: France, Italy, Germany, Belgium, The Netherlands, and Luxembourg.
- The Werner Committee, Report to the Council and the Commission on the Realisation by Stages of Economic and Monetary Union in the Community (1970).
- This involved the creation of the European Currency Unit (ECU), a weighted basket of Member States’ currencies. The ECU was used as the yardstick for assessing whether countries’ currencies were fluctuating within agreed bands around a central rate. It was also used as the denominator, and means of settlement, for central bank interventions in support of the agreed exchange rate parities. Over time, it also began to be used, unofficially, as a basis for private transactions.
Mr Churchills Excercise, Transition from Pound Stirling Gold Standard to Dollar Gold Standard ( Two World Wars and One World Cup ! Doo Daah. )
Britain’s interest and duty to return to the Gold Standard (the British led exchange rate system which had broken down under the strains of
the First World War) and to do so at the pre-war parity. On this subject
Churchill’s minutes were masterpieces of pungent questioning whereas
the replies took refuge in a misty higher wisdom. On 29 January 1925
Churchill wrote a minute and circulated it to Montagu Norman
(Governor of the Bank of England from 1920 to 1944), Otto Niemeyer,
R. G. Hawtrey (who in forty-one years in the Treasury made himself
almost more of a legend even than Niemeyer as a pundit of international
finance) and Lord Bradbury. Bradbury, retired and ennobled after being
permanent secretary to the Treasury throughout the First World War,
had recently become chairman of the joint Select Committee of both
Houses of Parliament on Currency and Banking, which was specifically
ip 2 5] Gold and Strikes 399
The Crime of 1878
Regulations of Prices. Coins are madę of gold and silver not because of the intrinsic ąualities of these metals—The practice arose from the superior constancy of their ąuantity as compared with other substances, and during eras when artificial moneys of fixed quantity were politically impracticable—Historical examples—The precious metals were never permanently used for coins until the conąuest of Spain by Romę—When the first effects of this conquest subsided, the precious metals were less used as materials for coins, until the Spanish conąuest of America—The effects of the conąuest of America and its great supplies of gold and silver to Europę upon prices have been sustained by means of convertible paper notes—This system incapable of further safe extension—Necessity for reform in money—Fluctuations of prices which have resulted from the failure of “ convertible ” notę systems—Their disastrous and baneful effects
Wheres the Beef, Meat and Two veg or boiled beef and carrots. Tyranny of the Vegans. Brick in the wall. Hole in the wall.A WARNING FROM TOMORROW. Solarium from Ike to Trump. #CovidPurpose #FollowtheDebt #DebtServitude #Goodwillhunting #Wheresthebeef #KarlRove
MARCH 26, 2020
Wheres the Beef, Meat and Two veg or boiled beef and carrots. Tyranny of the Vegans. Brick in the wall. Hole in the wall.A WARNING FROM TOMORROW . Solarium from Ike to Trump. #CovidPurpose #FollowtheDebt #DebtServitude #Goodwillhunting #Wheresthebeef #KarlRove
Wrong Kind of Green
“The ruling class exists, it’s not a conspiracy theory. They operate as a class, too. They share the same values, the same sensibility and in Europe and North America they are white. They act in accordance with their interests, which are very largely identical. The failure to understand this is the single greatest problem and defect in left discourse today.”
— John Steppling, Author, Playwright
“This report is crucial reading for anyone interested in creatively considering the multiple, divergent ways in which our world could evolve.”
— Judith Rodin, President of the Rockefeller Foundation
End of Part 1.
Boris Johnson ( Fat Blair) in 2017 defending Theresa Mays Queens Speech? Overtones of Pepper Pig at the CBI.
Fascinating @guardian interview with Stanley Johnson from 2012.
Clip 👇 and full interview here https://t.co/ChyzhgjFhU
— Liz Webster (@LizWebsterLD) January 22, 2021
inanition of Truth. The Cabotage cargos of mendacity wrapped up in Bojos Spaffing great onanistic Brino. How many times has he promised not to Come in the electorate’s mouth? Don’t swallow the Brino Cool aid. #TwoFingers2Brino @wiki_ballot #4Pamphleteers @GrubStreetJorno @Survation @wiki_ballot @financialeyes #WIKIBALLOTPICK #IABATO #SAM #GE2019 Roger Lewis ( Porthos) @JoeBlob20 #Notebookpost