India would like their $45 trillion back and based on the responses to informal queries, would prefer it in dollars rather than a libra-like reserve currency.Yr. pal,
Climateer
From Zerohedge:
After Jerome Powell's neutral-to-slightly-dovish-but-mostly-boring speech on Friday morning, investors could be forgiven for suspecting that this year's Fed-sponsored gathering in Jackson Hole might be disappointingly dull (especially with all that's going on in Trump's twitter feed, the escalating trade war and escalating geopolitical unrest).And at Al Jazeera, December 19, 2018
Then along came former Goldman banker and current (outgoing) BOE governor, Mark Carney, who in his lunchtime address laid out a shocking, radical proposal - perhaps the most stunning thing to ever be unveiled at Jackson Hole - urging to replace the US Dollar with a "Libra-like" reserve currency in a dramatic revamp of the global monetary, financial and economic order.
While it was unclear if Carney was focusing on Libra as the new reserve currency, or simply was hoping to find something against which the dollar could be devalued, the proposal was clearly shocking as it suggests that the central bank quiet acceptance of cryptocurrencies (especially in Japan) has been what many have speculated all along: a "currency" against which fiat money can be devalued in hopes of sparking fiat hyperinflation that inflates away record amounts of fiat debt.
Of course, such a new system would bring about the end of US hegemony, and effectively end the dollar-based global financial system, dramatically scaling back the US's influence in the global economy, and making rising powers like China and Russia critical players an increasingly multipolar world.... especially if they propose a gold-backed dollar alternative to the world. That this would quickly emerge as the new reserve currency - together with whatever stablecoin/crypto central bankers deign to be the dollar's replacement - goes without saying.
Carney's proposal comes just a few months before he's due to step down from his position leading the Bank of England....MORE
How Britain stole $45 trillion from India
And lied about it.
