"We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied soon."
-- Robert H. Hemphill, Credit Manager of the Federal Reserve Bank, Atlanta, GA 
"The System you are dependent upon to provide your existence is called the "Floating exchange rate debt backed by debt fractional reserve banking system" I´ve studied it for 10 years and it is in the terminal phase of collapse which will produce a hyperdeflationary implosion of debt... The main event will be as worse or worse than the depression in the US in the 1780´s on a global basis...The US economic system which has been hopelessly dependant on debt inflation to be created in great enough quantities to overpower debt deflationary forces for 45 years is fast approaching the system´s theoretical maximum potential to produce debt inflation...
Money is debt. Currently in the US debt is being created faster than the world can realisticly absorb it causing a debt glut which is the reason why US debt dollars are losing their value in relation to everything else... Once the US reaches it´s maximum potential to use previously created debt to leverage new debt into creation in greater quantities the 45 year debt inflationary ponzi scheme collapses into a hyperdeflationary implosion of debt...
"This process of "debt deflation" (a term coined by the early twentieth-century American economist Irving Fisher) was important in the U.S. deflation and depression of the 1930s"-Remarks by Governor Ben S. Bernanke Before the Economics Roundtable, University of California, San Diego, La Jolla, California July 23, 2003
Not important...The "Paramount cause" Note: The Great Depression in the US in the 30´s was the result of the hyperdeflationary implosion of 16 years of debt inflation... This time it is 45+ Other than some sort of external (Asteroid impact) or natural (Supervolcanic eruption) A hyperdeflationary implosion of a debt backed my debt system is the greatst manmade destructive event behind Global nuclear war... It is the purest of pure economic terror which is currently beyond 99.99999% of the general population to even begin to comprehend...
Here is the Basic mechanics of a debt backed by debt fractional reserve banking system...
1.the inflation of debt and the destruction of savings 1958-2004-05 The US officially announced to the world we were in this system in 1971 with the closing of the GOLD window... Once the system reaches it´s maximum potential to inflate debt which will happen this year or next then...
2. Deflation of debt and the destruction of equity...late 2004 to early 2006... The deflation of debt will be unstoppable do to the fact the Federal Reserve does not have the ability to lower rates below zero... an unstoppable hyperdeflationary implosion of debt will result leading to...
3.Bankruptcy of the banks, Collapse of the economy, and consolidation of power...
Great depression will begin some time in 2006... Wipe the hope from your minds...reguardless of what happens there is nothing that can be done to prevent this from happening...the only way to prevent debt deflation is by producing a greater amount of debt inflation...Later this year or in 2005 the "Floating exchange rate debt backed by debt fractional reserve banking system´s" ability to produce a greater amount of debt inflation to overpower debt deflation will become a mathematical impossibility...and a hyperdeflationary implosion of debt which has been postponed for 45 years will flood out, overwhelm the system and be totally unstoppable... GOLD and Silver if not banned or confiscated should be one of the last commodities to deflate...
Don´t believe me? Big deal Just watch it unfold there is no escape unfortunately... This is just a pathetic public service announcement directed at people who want to give a shit...You believe or you don´t...Non belief will not change destiny...We have been marching towards economic doomsday for 45 years and there is no turning back... Inflate debt or die..
Everything you know about economics is a lie... Money is debt there is no such thing as money anymore...It is a figment of your imagination... Consumers use their current income which is composed mostly of previously created out of thin air debt with compound interest attached by a commercial bank at the request of consumers to service the creation of newly created out of thin air debt with compound interest attached (Which is what future consumer income is mostly composed of) by commercial banks at the request of the consumer or consumers...
In simple terms current consumer income is previously created out of thin air debt with compound interest and future consumer income is newly created out of thin air debt with compound interest attached... Business is the same...operating expenses are mostly previously created out of thin air debt with compound interest attached and profits are mostly newly created debt with compound interest attached... A debt backed by debt fractional reserve system is supported by the perpetual inflation of new debt in greater amounts than previously created debt... It is based on the leveraging of leverage... A debt inflationary ponzi scheme...The entire US population rents their money supply from the commercial banks and ultimately the Federal Reserve... Since Debt is money the total debt supply of the US currently stands at 35 Trillion...
In order to prevent a debt deflationary contraction of the debt money supply debt inflation must be sustained in the required amounts to overpower the ever present debt deflationary forces... This has been accomplished for the past 21 years by the methodical lowering of interest rates from 19% to 1%...Zero or as low as you can go is it...then it will be impossible to support the creation of the required amount of debt inflation to overpower debt deflation and the debt money supply will rapidly begin to vaporize...or the debt inflationary machine begins to work in reverse... Equity such as real estate which is just a debt inflated asset will vaporise also...
The reason why the US dollar is collapsing is because in order for the US to maintain it´s economy which is based on the perpetual inflation of debt ponzi scheme since 1958, Debt is being created at a level which is so great that the world can not support it...You could think of debt as food...Food is being created faster than it can be consumed... The number 1 Export of the US is consumer debt...
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank
I knew how the system worked 10 years ago...It took 8 years until I actually comprehended it... Everything I have posted to this point is the 100% truth...You don´t have to believe it... The difference between what others have said and what I´m saying now is that they don´t understand/comprehend Basic mechanics of the system...
Stages of Debt backed by Debt fractional reserve banking...
1 Inflation of debt and the destruction of savings. Once the maximum potential debt inflation is reached then...
2 Deflation of debt and the destruction of equity. If debt inflation can not be restarted then a hyperdeflationary implosion of debt is the result which leads to...
3 Bankruptcy of the banks, Collapse of the economy and the consolidation of power.
The above is not taught in fractional reserved funded schools or other educational institutions... I´m not trying to sell anything...You either comprehend it or you don´t...It took me 8 years... This is just info I put here...I have my hands full on other boards putting scoffing idiots in their place... I know more than bankers and economists... They are clueless...just pigs at the trough...
Those who have studied the actual functions of the system for years...know what we are talking about... There are two ways to look at it... Responsible altruistic logic or Absolute self indulgent reason... Logic vs Reason Truth vs. Lies I happen to know the difference between the two... Logic other than my poor articulation of the facts dictates that I´m right... Reason dictates that I´m just another loonytoon doom and gloomer... I can go quite deep and I assure you that you will recoil in pure terror if you even for a second comprehend the true gravity of the situation... At this stage doubters and scoffers are in contempt of the truth (denial)... Proof? Evidence? Soon you will have more proof and evidence than you can comprehend or deal with... Laugh and scoff all you want...It is ultimately insignificant to what is presently unfolding...due to 45 years of laughing and scoffing... This is no planet X or supervolcano countdown...This is cold cruel reality about to show up...Like it has 100´s of time in the past when this same exact system has been used to support civilization...a classic textbook example of the responsible creation absolute destruction cycle is Rome, It has a 100% failure rate...It has never worked and the basic mechanics have not changed in 1000´s of years...All this system can do is inflate debt to it´s maximum theoretical potential then collapse...That is all it is designed to do...and that is what it is going to do...
Now we are making progress... In Germany the people at the top converted Marks into gold as fast as they got them and when the printing presses which were supporting the debt inflationary ponzi were shut off the bottom imploded, the middle class especially, and the top bought the bottom up for well below fire sale prices...
"A few who can understand the system (check money and credits) will either be so interested in it´s profits, or so dependent on it´s favors, that there will be no opposition from that class (THE TOP, Maybe YOU.), while on the other hand, the great body of the people (THE BOTTOM, Most likely YOU.) mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear it´s burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests." - Rothschild Brothers of London
In all economic systems the top sucks from the bottom...currently this is how the ponzi works... The "top" requests a commercial bank to create debt out of thin air short term at wholesale prices... Lets say $150,000 for a year at near prime 2.5% The top then converts it into an asset or sells it outright after it has been marked up... Lets say a House is constructed for $120,000 then marked up to $200,000 and a for sale sign put in front...
Now a member of the bottom sees the house, falls in love, and wants to buy it...So then the bottom requests a commercial bank to create debt out of thin air long term at retail prices...Lets say $180,000 for 30 years at 6%
The end result... Bottom is making payments on a debt created out of nothing with compound interest attached of $180,000 for the next 30 years At an average rate of 6% over 30 years the bottom owes the top $388,509
The Top in this example pay debt servicing costs and expenses and comes out with $50,000 profit and purchases a $50,000 luxury car which the Bottom is going to spend the next 30 years paying off
The Banking system Initial profits, Interest from the top and down payment from the bottom is $40,000 which is just relent out and a monthly income stream from the bottom of $1079 per month for the next 30 years...
Total money (Debt) created out of thin air buy commercial banks at the request of the consumer, first top then bottom, is $180,000 Total owed is $388,509 So then where does the $208,509 come from if it does not exist? A consumer must request a commercial bank to create it out of thin air with compound interest attached for it to exist...
To maintain a functioning economy with a perpetually expanding debt supply in the required amounts to support the servicing of previously created debt then new debt must always be produced in greater amounts than previously created debt or the system implodes... Debt inflation can not slow or stop or the system implodes... The US has been in this debt inflationary ponzi scheme for 45 years and it is approaching the maximum potential where consumers have used the maximum amount of current income as a basis for the creation of the maximum amount of new debt or future income So If the creation of new debt or future income slows then stops then when it becomes current income it will be less...
One of the reasons why 400,000 US workers per week for the last 52 have lost their jobs...the required amount of debt to be created to allow them to have a job ceased to exist... Gold is just one option to store value but in a collapse of a debt inflationary system it to will eventually collapse as it is used a leverage to purchase formerly debt inflated assets at well below fire sale prices...Due to the huge amounts of debt in existence in the global system just 1% of the debt running towards gold would cause it to rise in price in relation to deflating assets by massive magnitudes and could cause the authorities to ban it or confiscate it... The implosion will wipe out the middle class...Maximum potential is where the rich become the richest and the poor become the poorest...the middle class is for the most part wiped out... This is the way economics has functioned for 1000´s of years...
These are the simple steps you can take to survive...Reduce your cost of existence as low as you can...Purchase 365 cans of stew for every mouth you feel responsible for...Have an alternative source of Heat and light is also good... The above is what 100´s of millions of people are not prepared to do and will not do and will be blindsided... At this point your plans should be simplistic you might have to run for your life at some point...
All you are trying to accomplish at this stage is to accept the fact of the coming implosion and preparing enough for it to buy enough time to think...100´s of millions won´t have time to think... If you want to purchase land and construct bunkers with machine gun nests fine...But you want to keep a low profile...Because the top will not tolerate any threat from the bottom (Victims of the scheme)...All rights and due process will cease to exist...You either accept your fate or be eliminated from the equation... Any resistance towards the top in the initial stages will be met with brutal savagery... Did Spartacus win? Forget it...The Absolute capitalists have been constructing a police state for years...and are currently fast tracking the finishing touches...
I´ve been studying the absolute capitalists for 16 years and the mechanics of the Absolute capitalist system itself for 10...it was only in the last 2 years that I became aware of the collapse mechanism...I started my countdown of 16 to 24 months 20 months ago... In less than 4 months I´m done my crusade to warn people...Currently the US needs to get average mortgage rates down below 5% to buy more time...If they don´t the system will begin to collapse with no conventional way to stop it...If they do they might be able to squeeze out 1 more year...
But by 2005 the required amount of debt inflation needed to overpower the 45 years of underlying debt deflationary potential will become Infinite...The current mechanics dictate that to support infinite debt inflation you either have to drop interest rates past zero infinitely which is impossible or pay people to play Hyperinflate...Even if they were to successfully start and maintain a hyperinflationary system it would only be a matter of months until a postage stamp cost a trillion dollars and then you run into the problem of computer processors not having infinite processing power...
I´ve looked at all angles...and there is no way to prevent the collapse...The very second you put your destiny in the hands of a debt backed by debt fractional reserve system Collapse in the only and ultimate outcome...This is a fact whether you think so or not or are aware of it or not... Scare mongering? Then you are scared of the truth...A hapless victim of the Absolute capitalist installed Just think positive religion... Fractional reserve system get weaker the longer they are in operation...until a door slamming shut will collapse them... We have been rocketing towards the door slamming shut for the past 45 years...and it will slam shut at any time between now an late 2005...Then You will have a front row seat to witness a collapse of a global debt backed by debt fractional reserve system... this process has happened 100´s of times before but it has been 100´s of years since one this big has imploded... As Hanz and Franz would say "Hear me now believe me later..." "I won´t believe it until I see it" Great! neither will I...
Absolute capitalists who own everything would consider a system which puts limits on their ability to own and control everything a threat...which they would eliminate if it was tried to be implemented...Until the population can identify the signs of absolute self indulgent reason which is the religion of the Absolute capitalists and reject it there is no way a system based on Responsible altruistic logic can exist...Flawed logic will corrupt responsible capitalists into absolute capitalists... The responsible creation absolute destruction cycle which has been playing out for 6000+ years in the accepted recorded history of civilizations... The Absolute capitalists gained control of the USA 100 years ago and have corrupted at least 5 generations into rejecting Responsible altruistic logic as the way to solve problems encountered during existence and accepting Absolute self indulgent reason...
The tyranny of truth has been turned negative and the tyranny of lies has been turned positive... Using Absolute self indulgent reason causes the individual or group utilizing it to run from the safety of the tyranny of truth towards the comfort of the tyranny of lies... Since the absolute capitalist installed just think positive religion based on absolute self indulgent reason dictates that reality is negative and fantasy is positive... Truth/reality is indestructible and infinite Lies/fantasy is fragile and finite... Fantasy leads to self delusion and ultimately self destruction... The Floating exchange rate debt backed by debt fractional reserve system is a construct totally dependant on absolute self indulgent reason to function...Lies/fantasy must be perpetuated forever for it to function forever... Lies/fantasy are fragile and finite...truth/reality is indestructible and infinite...
Any attempt to employ Responsible Altruistic logic to operate a construct of absolute self indulgent reason will destroy it or cause the operator to be corrupted... Exposure of the truth will cause the system to implode and the implosion of system will expose the truth... All the absolute capitalists are basically trying to accomplish currently is to have a new lie/fantasy constructed and ready when the old lie/fantasy self destructs to maintain power... The actual truth or reality of the basic function of the system has never been this widely understood by so many in all of recorded history...But maybe 1-2000 people on the planet outside of the absolute capitalist top even comprehend it enough have an idea what is going on...The Vast majority of corrupted responsible capitalists are 100% totally clueless and have no real ability to comprehend Evil or effectively fight it... But the grim realities always overwhelm the Absolute capitalists in the end...They always self destruct because they are in contempt of the truth...Due to the construction of the Universe itself contempt of the truth always leads to self destruction or damnation... There is no escape from the tyranny of truth...But Absolute capitalists always try when they employ reason over logic...Fantasy over reality...
At this point I see no miracle which is going to break the chain in the responsible creation absolute destruction cycle we have been trapped in for 6000+ years especially if we are going to employ absolute self indulgent reason to find a solution to the problem which exists because of the employment of Absolute self indulgent reason to solve the problem which was caused by the employment of self indulgent reason... The only way to break the chain is to employ Responsible altrustic logic and just submit to the Tyranny of truth which can not be escaped from... If you employ Responsible altrustic logic at a personal level you can escape...All I´m trying to do is pass on forbidden knowledge while there is still time...when the Economy collapses the screen you are looking at will go blank and when and if it comes on again you will recieve newly constructed lies to replace the old self destructed ones to find comfort in... It may take another 6000 years to break the chain and logic dictates that I should try to help break it and the only way that can happen is to inform all that I can with the limited resources I have...Just as the absolute capitalists will use their massive power and control to try and prevent the tyranny of truth from destroying them... Acceptance of the tyranny of truth which is infinite and industructible is the only path to eternal salvation finding comfort in the tyranny of lies leads to eternal damnation... It is quite a paradox...You can never escape salvation and if you try you will only find damnation... Eternal damnation is only as long as you want it to be...You have no choice with salvation...Unless for some odd "reason" you find salvation to be evil and damnation righteous... Only you can save you...If you want to...You have an eternity to accomplish that simple goal... Hell It might take me another 6000 years just to quit smoking or staring at pornography...or any one of numerous self destructive actions which are imposed on me from birth by absolute capitalists... I know how The system works in great detail that is about it...I have no special powers other than what the employment of Responsible altruistic logic to solve problems dictates... Logic is infinitely more powerful than reason which has finite power unfortunately... All I have seen as unexplained effects is that some times what I think I need based on Responsible altruistic logic I get...Thoughts crystalize into reality on a local basis... I have no fear of the truth...why do you if you do?
If my Information is a help to you that is good enough... I try to keep a low profile...My writings happen when they happen...I´ve been at this for almost 6 years and am growing tired of the Absolute capitalist attacks which grow stronger the more refined my articulation of the truth becomes I´ve become more imfamous then famous my rich relatives don´t want to hear any sound from me...And I don´t have all the answers..You can use my information how you see fit...Absolute capitalists can take advantage of the collapse (They are licking their chops) and Responsible capitalists can prepare to aviod being taken advantage of...That is about it...I´m an insignificant part of your life...But thanks for your happiness... Inquiring... If your house is paid off then you should not worry...Depending on how much you have owing could be a problem...if you owe 50% and take a 50% hit to equity then you will be making payments on nothing...Just like rent...In Japan mortgage rates are low the best credit risks have refinanced their property $1,000,000 at 5% for 100 years...Buts if they were to sell they could only get $300,000...
Most people currently buying real estate will be wiped out...They are doomed and have no idea...The current real estate boom in the US has run for 12 years straight the previous biggest one lasted only 5 years the one before that lasted 4 then 3 then there was basicly normal growth... The only way to keep this one going is to keep lowering mortgage rates...Rates have a lower limit, zero or as low as they can go... Bankers need to eat, zero prime rate = zero prime rib... Japan got them down to 5% then ran out of volume... to continue the boom rates crashed in search of volume which they never found to this day and that was 10 years ago...And Japan is the number 2 country in the debt inflationary ponzi scheme and depends on the export lifesupport provided by the US as the Number 1 consumer economy on the planet just to tread water...Once the US goes down for the count they will collapse further than they currently think possible... Ultimately it is up to you to figure out if it is in your best interest to sell your property to someone to get your equity out and rent then wait... You should also be prepared to fire sale your property if you decide you have to run...and take what you can get...
"The standard of living of the average American has to decline...I don´t think you can escape that." - Paul Volcker, former Federal Reserve Chairman, implementor of the "controled Disintegration of the economy" policy in 1979 which we are at the tail end of... It has worked like a charm...But the final gasp or climax will be an unstoppable hyperdeflationary implosion of debt... Like the tale of the frog... If you try to put it into a boiling pot of water it will try at all costs to resist and keep jumping out... the Controled Disintegration of the economy is the Frog in the pot as the water is slowly heated...allowing the frog to drift off to sleep and be cooked... It is up to you...I can´t even believe it, but logic dictates that it will happen and very soon...I´ve been searching for why it can´t happen for 2 years and all I find is logical conclusions why it can and will... All I know is that these collapses are not a pretty sight when they take place...and this one is of very great magnitude compared to what has taken place in the past 2 centuries in the US...It also has the potential to equal the collapse of Rome...I don´t know. We will all see how bad it truely gets...
2 years ago I was clueless also... I´d studied the mechanics of the debt backed by debt fractional reserve system for 8 years but didn´t fully comprehend it until 2 years ago...I started using the Internet to take a closer look at economics as they are confined within the absolute capitalist system...There are powerful tools on the Internet but if you use reason to figure out what is going on you will arrive at the same conclusions as everyone else with slight modifications but because reason excludes truth from the equation conclusions will all be based on flawed logic...or absolute self indulgent reason Here is truth and there is no way to refute it... All economic systems operate by the top sucking from the bottom... There are numerous arguments which have been created to explain why or discount it but the truth is rich people get rich by making people poor...The top takes more than it gives... Eventually the top has everything and the bottom has nothing... Basicly the system is the cause and when you open your eyes in the morning that is the effect...
Here´s more truth that there is no way to refute... The poor pay the taxes... Now the rich would have you believe they pay the most taxes but if the top sucks from the bottom where does the money come from to pay taxes in the first place? Taxes imposed on the top only cause the top to take even more from the bottom to make up the difference... Now you would be saying to yourself then should we then just tax the poor? The answer is that we need a system based on Responsible altruistic logic...which they tried to do with the USA but there were flaws and loopholes in the Constitution which the absolute capitalists "capitalized" on, Although it took them 100 years to accomplish they succeded... Any attempt to impose responsible altruistic logic on the current system will cause it to implode...But because the system is a construct of absolute self indulgent reason it is doomed to self destruction because it is based on the perpetuation of lies and fantasy...The creation of wealth out of thin air...You can create what is understood as money out of thin air but you can´t create energy or food out of thin air... The current system is based on flawed logic such as the just think positive inflation forever religion... To just think positive employing self indulgent reason to determine what positive is dictates that truth is negative...In such a system truth is eliminated from the equation...It is to be avoided So to answer your question as to why people have been saying the system was going to implode but hasn´t yet is because they employ self indulgent reason to arrive at their conclusions...or just think positive which eliminates truth or logic from the equation... But as we get closer and closer to the inevitable implosion the grim realities become more and more apparent until the truth becomes blindingly self evident...
Remember the system is the cause and when you open your eyes in the morning that is the effect... Did the Great Depression cause the system or did the system cause the Great Depression? The absolute capitalists will provide a blizzard of scapegoats to cover their tracks... Logic dictates that some sort of massive event is planned or will be staged or a recuring event that is hidden knowledge will be capitalized on...One of the reasons I found this place... I know how absolute capitalists think but I have no idea what they have planned as cover to explain how a system that 99.999999% of the population believes can not ever collapse... does...violently Coming out and saying oops we made a horrible mistake is not an option to people who believe you can do whatever you want as long as you don´t get caught... The fractional reserve banking system is the key to their power and control...they will vaporize cities if they have to to protect their secret...
In 12 years of primary education you never hear the term fractional reserve banking...that is no accident...if the general population were to actually comprehend it they would reject it or want it abolished...That can never be allowed... Even University and College economics is based on flawed logic...
“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.” Money: Whence it came, where it went - 1975, p15 - John Kenneth Galbraith
"Banking was conceived in iniquity, and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen, they will create enough deposits, to buy it back again. However, take it away from them, and the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain slaves of Bankers, and pay the cost of your own slavery, let them continue to create deposits." - Sir Josiah Stamp, (President of the Bank of England in the 1920´s, the second richest man in Britain)
I said 16-24 months 20 months ago, lost track and it is actually 7 months, but in 4 months I´m done...I have to pack it in...I barely stand looking at the markets and economy any more...The timing is not that important to me really... If they can get mortgage rates to new lows, an average rate of 4 to 4.5% then another round of refinacings can happen which will buy more time and should negate my 4 months timetable. The theoretical maximum potential of the system will be reached by the end of this year...after that the debt inflationary potential needed to overpower debt deflationary forces will become infinite...or without limit...The system as it is currently constructed is not designed to produce infinite debt inflation...No system is or can survive long in hyperinflationary mode... But since we can only see what is presented to us there is no way to know exactaly the day there is just a window of now to late 2005... I´ll stick with my 4 months which is April and If nothing happens, good, my creditability is destroyed and I can escape... I want to now...I´ll try to keep updating info as I get it for 4 more months... It can blow at any time...it is very fragile..
Following the money trail from the FEDERAL RESERVE leads to the Bank of England...a study was done By the US Government in the 70´s and it was found that the FEDERAL RESERVE bank of New York which is the Main central bank which controls the rest of the districts in the US is controled or subservient to the Bank of England...Alan Greenspan was knighted by the Queen...US and UK together in Iraq...The Bank of Japan is part of the bloc also and the central banks in the Commonwealth Australia and India with the US on top...Combined they total 55% of world GDP... Germany is the only country in the EU with significant enough trade with the US to be affected by problems from the US... All I know is France, Germany, and Russia have large Gold reserves... I don´t really pay too close attention to the EU or Europe since I live here...and detailed info is hard to come by..."
