Serpo
10th June 2012, 04:33 AM
sCREW THE imf.............................
http://silvervigilante.com/wp-content/themes/Funda/images/date.png June 9th, 2012 http://silvervigilante.com/wp-content/themes/Funda/images/user.png sv
http://silvervigilante.com/wp-content/uploads/2012/06/nzd.jpg The International Mother F**kers, as thinkers high on the fumes of spray paint have re-branded the global mafioso institution, recently published its statement on its New Zealand Mission (http://www.bloomberg.com/news/2012-06-07/statement-by-the-imf-mission-to-new-zealand-text-.html). In it, the global institution states that the New Zealand economy is growing at a modest pace and should continue to do so as reconstruction efforts in the wake of recent earthquakes continue. (Perhaps, in 2050, we will read – assuming we will be permitted to read – IMF statements in which the contrivance of natural disasters will spur employment and growth.)
Such statements by the IMF should not take rocket-science to draft up, considering the same plague is effecting virtually each nation in the world, especially the U.S., the Commonwealth and Europe, as high household debt eats the prospect of consumption as households are forced “to save to strengthen their balance sheets.” Read “save” as a euphemism for paying off debt.
Banks remain sound, the statement reads, but they are at risk from indebted households and farmers, as well as “rollover risks associated with large short-term offshore funding needs.” In other words, as the world collapses, the growth in New Zealand and efforts to payback debts will be…undermined. Techniques to bolster “prudential norms” could include setting banks’ capital requirements above the Basel III minimum. In essence, a two-tier regulatory system in which “exceptions” will be above the “norms” imposed by institutions like the IMF. The Reserve Bank of New Zealand is welcomed by international interests, according to the statement, to continue its work “on the costs and benefits of macroprudential measures, as is the authorities’ intention to implement key features of Basel III in early 2013.” Or, in lay terms, to work on a coordinated global level to bring in trademark International Monetary Fund financial and economic program featuring kiwi devaluation and, eventually, the elimination of welfare programs on which the public has been made dependent through “norms.”
Indeed, the IMF suggests a 15% devaluation of the NZ Dollar. The IMF perceives New Zealand’s current account deficit rising to 7.1 percent of gross domestic product and net external liabilities to 84.8 percent of GDP by 2016.
“Staff analysis suggests that the New Zealand dollar is currently stronger than is consistent with a level of the current account deficit that is more sustainable over the long term,” the report said. To “the New Zealand dollar would need to be about 15 percent weaker than its current level.”
Europe, China and Australia are considered New Zealand’s first risk arisen from close trade relationships.
The statement comes at a time of volatile gold and silver prices in NZ Dollar terms. The gold price has traded between 2,030 NZD and 2,160 NZD. Silver has essentially faced similar doldrums it has seen in USD terms.
http://bullion-rates.com/gold/NZD/Daily-30-chart.png?fi=6%7c0%7c0
http://bullion-rates.com/silver/NZD/Daily-90-chart.png?fi=6%7c0%7c0
In the midst, if demand for PAMP Suisse gold products is symptomatic, demand for gold in New Zealand is very strong. According (http://www.scoop.co.nz/stories/BU1205/S00570/pamp-gold-demand-strengthens-in-new-zealand-market.htm) to New Zealand Gold Merchants (NZGM) Director Tony Coleman, demand is delightful: “We initially purchased the PAMP Lunar Calendar series primarily for the New Zealand Chinese community, however we have been delighted at how popular this series has been across all market segments. Many of our European customers are very familiar with the PAMP products and local New Zealand investors are increasingly purchasing both the PAMP product as well as our own NZ Pure Bullion.
“When we began importing PAMP bars into New Zealand a number of years ago, the most popular PAMP bar sizes were 1 ounce and 10 ounces. But as awareness of PAMP grew, New Zealand Gold Merchants is now importing a full selection of product from 1 gram bars through to 1 kilo bars.” Says Mr Coleman.
The IMF does not have the best economic track record, as its predictions of future conditions have wildly fluctuated, bespeaking d recovery in places like wore-torn Libya, etc. and modest economic growth basically everywhere, while at the same time flagging unsustainable debt loads as plausible cause for “financial upheaval.” These predictions are based on politics and an agenda. Future economic conditions fall under the category of “objective” in the minds of technocrats and empowered, square economists. The objective? International peace on elite terms – that is, a lack of opposition to command-and-control state-run policy.http://silvervigilante.com/imf-calls-for-15-increase-of-gold-price-in-new-zealand-dollar-via-devaluation-in-new-zealand-dollar/
http://silvervigilante.com/wp-content/themes/Funda/images/date.png June 9th, 2012 http://silvervigilante.com/wp-content/themes/Funda/images/user.png sv
http://silvervigilante.com/wp-content/uploads/2012/06/nzd.jpg The International Mother F**kers, as thinkers high on the fumes of spray paint have re-branded the global mafioso institution, recently published its statement on its New Zealand Mission (http://www.bloomberg.com/news/2012-06-07/statement-by-the-imf-mission-to-new-zealand-text-.html). In it, the global institution states that the New Zealand economy is growing at a modest pace and should continue to do so as reconstruction efforts in the wake of recent earthquakes continue. (Perhaps, in 2050, we will read – assuming we will be permitted to read – IMF statements in which the contrivance of natural disasters will spur employment and growth.)
Such statements by the IMF should not take rocket-science to draft up, considering the same plague is effecting virtually each nation in the world, especially the U.S., the Commonwealth and Europe, as high household debt eats the prospect of consumption as households are forced “to save to strengthen their balance sheets.” Read “save” as a euphemism for paying off debt.
Banks remain sound, the statement reads, but they are at risk from indebted households and farmers, as well as “rollover risks associated with large short-term offshore funding needs.” In other words, as the world collapses, the growth in New Zealand and efforts to payback debts will be…undermined. Techniques to bolster “prudential norms” could include setting banks’ capital requirements above the Basel III minimum. In essence, a two-tier regulatory system in which “exceptions” will be above the “norms” imposed by institutions like the IMF. The Reserve Bank of New Zealand is welcomed by international interests, according to the statement, to continue its work “on the costs and benefits of macroprudential measures, as is the authorities’ intention to implement key features of Basel III in early 2013.” Or, in lay terms, to work on a coordinated global level to bring in trademark International Monetary Fund financial and economic program featuring kiwi devaluation and, eventually, the elimination of welfare programs on which the public has been made dependent through “norms.”
Indeed, the IMF suggests a 15% devaluation of the NZ Dollar. The IMF perceives New Zealand’s current account deficit rising to 7.1 percent of gross domestic product and net external liabilities to 84.8 percent of GDP by 2016.
“Staff analysis suggests that the New Zealand dollar is currently stronger than is consistent with a level of the current account deficit that is more sustainable over the long term,” the report said. To “the New Zealand dollar would need to be about 15 percent weaker than its current level.”
Europe, China and Australia are considered New Zealand’s first risk arisen from close trade relationships.
The statement comes at a time of volatile gold and silver prices in NZ Dollar terms. The gold price has traded between 2,030 NZD and 2,160 NZD. Silver has essentially faced similar doldrums it has seen in USD terms.
http://bullion-rates.com/gold/NZD/Daily-30-chart.png?fi=6%7c0%7c0
http://bullion-rates.com/silver/NZD/Daily-90-chart.png?fi=6%7c0%7c0
In the midst, if demand for PAMP Suisse gold products is symptomatic, demand for gold in New Zealand is very strong. According (http://www.scoop.co.nz/stories/BU1205/S00570/pamp-gold-demand-strengthens-in-new-zealand-market.htm) to New Zealand Gold Merchants (NZGM) Director Tony Coleman, demand is delightful: “We initially purchased the PAMP Lunar Calendar series primarily for the New Zealand Chinese community, however we have been delighted at how popular this series has been across all market segments. Many of our European customers are very familiar with the PAMP products and local New Zealand investors are increasingly purchasing both the PAMP product as well as our own NZ Pure Bullion.
“When we began importing PAMP bars into New Zealand a number of years ago, the most popular PAMP bar sizes were 1 ounce and 10 ounces. But as awareness of PAMP grew, New Zealand Gold Merchants is now importing a full selection of product from 1 gram bars through to 1 kilo bars.” Says Mr Coleman.
The IMF does not have the best economic track record, as its predictions of future conditions have wildly fluctuated, bespeaking d recovery in places like wore-torn Libya, etc. and modest economic growth basically everywhere, while at the same time flagging unsustainable debt loads as plausible cause for “financial upheaval.” These predictions are based on politics and an agenda. Future economic conditions fall under the category of “objective” in the minds of technocrats and empowered, square economists. The objective? International peace on elite terms – that is, a lack of opposition to command-and-control state-run policy.http://silvervigilante.com/imf-calls-for-15-increase-of-gold-price-in-new-zealand-dollar-via-devaluation-in-new-zealand-dollar/