The LIBOR to SOFR involves $600 trillion in contracts and a hard date for legacy contracts already in play must be changed to SOFR by June 30 as deemed by the Federal Reserve.
IMO the checkmate will happen after the world economy crashes. That's the biggest wake up moment for people.
Debt Ceiling is irrelevant IMO. You can have it go either ways and the world economy still crashes.
Yes, but exactly what will make it crash? Remember this is a controlled demolition, and hence both sides have specific set of event(s) prepared to pull the plug.
Several things can make it crash. It is foolish to think either side can "control the demolition" of something so huge and gigantic. The biggest cause of the crash will be regular peoples stubbornness to continue buying into luxury items, not living in their means, and taking on debt to extend their make believe world of pride and ego.
Cantillion Effect (written about in 1720s) causes citizens of every World Reserve Currency in history to go back into poverty due to that country not manufacturing anything anymore. (Read "Cantillons Essays, especially Chapter 8 towards the back)
LIBOR to SOFR transition changing the worlds interest rate benchmark system and therefore the changing value of contracts, banks, and corporations instantly. Can bank illiquidity like we're seeing.
Corporate Mortgage Backed Securities fallout due to very low demand for urban real estate ($7 Trillion+ market).
Record high credit card debt, auto loan defaults.
Federal Reserve continuing to increase interest rates.
Continuing supply chain breakdown that can from the 2020 pandemic and printoff of 5X our circulating currency in 2 years.
Foreign businesses going broke or cutting off from trade with the US in order to save their own business.
Foreign countries coalescing like BRICS and investing in gold, silver, and crypto.
WW3 announcement
Nuclear scare event
In the short term though, almost all countries have their debt denominated in US dollars and have to pay their debt back in $USD. This will cause the demand of the dollar to rise fast in the short term and make the dollar " more valuable" for that time period meaning it'll curb inflation and stocks will stagflate or will fall in comparison with the dollar. We are likely just beginning this in the stock market.
Gold, silver, and crypto outside the us monetary system (and anything readily sellable that is in demand) will be good investments to keep your wealth.
Those countries will take a few years to pay off most of their dollar denominated debt but once it is paid off, those dollars don't disappear. The eventually make their way back to the country of origin (USA) which will cause insane inflation over in the States.
When you see "US dollar denominated debt in foreign non-bank entities" has peaked, that is your signal the dollar is dead. There is nothing Trump or anyone will be able to do then, the best thing he can do is lead and shepherd the USA into manufacturing goods as fast, high quality, and high volume as soon as possible.
Trump and the military cannot control the economy, they can just lead the elites into the best case scenario for dumping this economy and this system but there are no guarantees. Shit will absolutely hit the fan when the banks start crashing.
China has much more trade than the US right now but their people will be eating shit for a long time from their own kind of 2008 moment over there. They will also suffer the effects of the Cantillon effect (probably much quicker) as manufacturing gets outsourced and leaves China since it is now overall too valuable for cheap labor.
Maybe they can operate on the momentum of their positions of authority.
Its not just, think of it as oil in the system ... you can keep going for a while before its all flushed out. Flushing it all out is also part of the clean up I believe.
I don't see why you think that. CBDC platform FedNow opens to the public in July.
LIBOR to SOFR change must be implemented by June 30.
FedNow is not a forcing move.
Libor to Sofr - not sure how forcing that is. All are definitely end game moves. But are we at the checkmate already? Not so sure.
The LIBOR to SOFR involves $600 trillion in contracts and a hard date for legacy contracts already in play must be changed to SOFR by June 30 as deemed by the Federal Reserve.
IMO the checkmate will happen after the world economy crashes. That's the biggest wake up moment for people.
Debt Ceiling is irrelevant IMO. You can have it go either ways and the world economy still crashes.
Yes, but exactly what will make it crash? Remember this is a controlled demolition, and hence both sides have specific set of event(s) prepared to pull the plug.
Several things can make it crash. It is foolish to think either side can "control the demolition" of something so huge and gigantic. The biggest cause of the crash will be regular peoples stubbornness to continue buying into luxury items, not living in their means, and taking on debt to extend their make believe world of pride and ego.
In the short term though, almost all countries have their debt denominated in US dollars and have to pay their debt back in $USD. This will cause the demand of the dollar to rise fast in the short term and make the dollar " more valuable" for that time period meaning it'll curb inflation and stocks will stagflate or will fall in comparison with the dollar. We are likely just beginning this in the stock market.
Gold, silver, and crypto outside the us monetary system (and anything readily sellable that is in demand) will be good investments to keep your wealth.
Those countries will take a few years to pay off most of their dollar denominated debt but once it is paid off, those dollars don't disappear. The eventually make their way back to the country of origin (USA) which will cause insane inflation over in the States.
When you see "US dollar denominated debt in foreign non-bank entities" has peaked, that is your signal the dollar is dead. There is nothing Trump or anyone will be able to do then, the best thing he can do is lead and shepherd the USA into manufacturing goods as fast, high quality, and high volume as soon as possible.
Trump and the military cannot control the economy, they can just lead the elites into the best case scenario for dumping this economy and this system but there are no guarantees. Shit will absolutely hit the fan when the banks start crashing.
China has much more trade than the US right now but their people will be eating shit for a long time from their own kind of 2008 moment over there. They will also suffer the effects of the Cantillon effect (probably much quicker) as manufacturing gets outsourced and leaves China since it is now overall too valuable for cheap labor.
I've been wondering about this.
Maybe the cabal can operate for a while without their slush funds. Maybe they can operate on the momentum of their positions of authority.
Is the demolition of the central banks the last move?
Its not just, think of it as oil in the system ... you can keep going for a while before its all flushed out. Flushing it all out is also part of the clean up I believe.