Finger On The Button? BOE Governor Says UK Is Preparing For The Global Financial System Reset

Mark Carney’s saying “New World Order”, “New Financial System”, “Now Is The Time”, and “Great Change”. Let’s connect the dots…

We talk about the coming reset all the time.

We talk about:

We’ve called it different names. That’s just a few examples.

And many experts are talking about it:

Again, that’s just a few of the names. There are many many more.

The race is definitely on as to who will be dictating the terms of the reset.

Everybody has their eyes on China and Russia, thinking they join forces to form the dominance in the global economy to push out the dollar and elevate China to world reserve currency status, or elevate a combination of China and Russia to world reserve currency status with a gold and/or silver backing in this new monetary system, perhaps even with a return to gold and silver via a Chinese Gold-backed Yuan and a Russian Silver Ruble.

Well, it’s not only the East that is actively working on the global reset.

England seems to frantically be in the race as well.

Yesterday, Bank of England Governor Mark Carney gave a speech, and it wall basically all about the coming reset.

That phrase that we all can’t stand – the “new world order”.

Yup.

It’s coming.

Its a very long, super boring speech, but I’ve read between the lines, and I want to show you some of the thing he has said, so that you can come to your own conclusions as to what is going on.

To me, it speaks to the end of the dollar dominated world and the coming reset and re-ordering of the global monetary system

Here’s some of the things he said in no particular order (bold and red bold added by Half Dollar for emphasis):

The Bank recognises that a new economy, a new world and new demographics demand a new financial
system.

While we prepare for great change, we will be guided by one constant: our mission to promote the good of
the people we all serve.

This infrastructure must be overhauled now that the economy is on the cusp of the fourth industrial revolution
and our demographic challenges are intensifying. And rebalancing of the global order is proving as dramatic
as it was in Montagu Norman’s time.

Such profound changes demand a new finance.

We now have a balance sheet fit for a new world order with greater reliance on markets in a wider range of
reserve currencies.

The UK has been at the forefront of G20 reforms to create a global
financial system that is safer, simpler and fairer. Implementation is now being regularly assessed and
transparently reported by the FSB and the IMF.

Now is the time to reap the benefits of these enormous efforts. Platforms are being created for deference to
each other’s approaches when they achieve similar outcomes. With the three pillars in place, an open,
resilient global financial system is possible.

Having put in place the pillars of responsible, open financial system, we are ready for deeper Global
Financial Partnerships with the emerging economies that will be the most important drivers of global growth
in the decades ahead.

The financial implications of these developments are only beginning to be realised, but they are likely to be
immense. In anticipation, the Bank is already creating the new hard and soft infrastructure that the new
finance will require.

The Bank is also ensuring our rules and regulations – or soft infrastructure – are fit for the new finance.

The speech reeks with a sense of urgency.

There is no talk about the U.S. dollar and a future dominated by the dollar, but it’s all talk about moving on to the new world and the circumstances of a new world, implying China, Russia and the other “emerging economies”.

Here’s a question: What kind of talk do you ever hear coming out of the U.S. Fed or the U.S. Treasury Department?

Is there ever about a new global financial system, like a “reset”, or is talk all about defending the dollar?

If you think it’s all about defending the dollar as world reserve currency, which I think, then the Fed, the Treasury, and by extension, Washington, are all going to go down kicking and screaming like the bully finally getting punched in the nosed and dragged off the playground.

What have we the U.S., done recently with the global financial system?

The only new thing we have implemented globally is increasing the burden and hostility with stuff like anti-money laundering and FACTA, which essentially punishes global banks and tracks down Americans working in foreign countries to send back income tax payments to Uncle Sam.

That kind of stuff doesn’t help anybody, but rather, it only creates hostilities, which is why the rest of the world is ready to move on.

The type of economic prowess we have imposed on the rest of the world, through our banking rules, our dollar hegemony with the petro-dollar, our use of sanctions and our ability to strong arm other nations into compliance only stifles progress and makes people and nations really angry about constant over-encroachment from the U.S. government.

Finally, Congress, as dysfunctional as it is, likely assumes the dollar will just go on forever:

Just like Britain once thought.

Or like France once thought.

Or like even the “P” in PIIGS once thought.

But reserve currencies don’t last forever, and when the government removes the backing from gold and silver, the death of the currency really speeds up.

We’ve been off any and all linkage to gold since 1971.

We’re overdue for a reset.

And other nations know it, and they are actively preparing for it.

Even allies like England are actively getting ready to move on.

And they’re telling you they’re moving on.

Right there in black and white.

Here’s the question: Is the reset a roll-out, like something that has to be fully implemented and done in stages?

Or is it something that can be mostly implemented, as it is now, and thrust to the forefront because of some economic or geo-political event?

Because when the world’s economy is both as interconnected as it is, and as fragile as it is, sometimes plans accelerate.

An one of these days, on a Sunday night, or perhaps a Friday night, we’ll find out.

The announcement will be matter-of-fact, boring, and seemingly mundane.

But come Monday, we will all be living in an entirely new world.

Stack accordingly…

– Half Dollar


 

About the Author

U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.

Paul’s free book Gold & Silver 2.0: Tales from the Crypto can be found in the usual places like Amazon, Apple iBooks & Google Play, or online at PaulEberhart.com. Paul’s Twitter is @Paul_Eberhart.

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