Seeds of Wisdom RV and Economic Updates Sunday Morning 9-8-24 Part 1
Good morning Dinar Recaps,
THE UN’S SUMMIT OF THE FUTURE IS ONLY WEEKS AWAY YET THE PUBLIC REMAINS IGNORANT
A resetting of the global financial system is a crucial component of their plans.
With the UN’s Summit of the Future less than 20 days away the vast majority of the public has no idea governments of the world are set to sign the so-called Pact for the Future.
On September 22 and 23, the United Nations member states will gather in New York City at the UN headquarters for the historic Summit of the Future with the intention to sign the Pact for the Future. This document is expected to radically accelerate the push towards the completion of the UN Sustainable Development Goals (SDGs) and the Agenda 2030.
The Summit of the Future is taking place during the 79th session of the annual UN General Assembly. The summit has been in the making since at least 2022 after repeated calls by UN Secretary-General Antonio Guterres to shift financial resources to rapidly complete the Agenda 2030 goals set by the UN in 2015.
Although this historic gathering is sure to impact the majority of the world’s population, it has received very little coverage from the corporate media, and almost no coverage from the independent media.
One issue which has received mainstream coverage relates to 77 Nobel Laureates and world leaders signing a letter complaining about references to fossil fuels being removed from the Pact for the Future. The references were later reinserted after the letter was made public.
The discussion about fossil fuels fits the UN’s narrative about impending doom relating to climate change. It is this panic around climate change which has led to the convening of the Summit of the Future and calls for strengthening the UN infrastructure.
The Summit’s theme — “Ultilateral Solutions for A Better Tomorrow” — illustrates the goal of this gathering. Namely, a push for strengthening, and even remaking, the UN to better tackle crises which are ostensibly looming in the coming years.
The UN is focused on several potential planetary emergencies, including climate change, war, biodiversity loss, and environmental degradation. The UN claims these potential crises are too great for any one nation-state to tackle alone, and thus, will require greater cooperation and organization between UN member states.
“We recognize that the multilateral system and its institutions, with the United Nations and its Charter at the centre, must be strengthened to keep pace with a changing world. They must be fit for the present and the future – effective and capable, prepared for the future, just, democratic, equitable and representative of today’s world, inclusive, interconnected, and financially stable,” the latest draft of the Pact for the Future states.
As The Last American Vagabond (TLAV) has previously reported, the Summit of the Future is also expected to include calls for remaking the UN into what has been called “UN 2.0”.
Global Shocks Require Global Government
The 3rd draft of the Pact for the Future was released on August 27 and is currently being reviewed by UN member states. This draft continues the discussion around “global shocks” and how these shocks will require a global response.
For example, one section titled “We will strengthen the international response to complex global shocks”, states that there is a need for a “coordinated and multidimensional international response to complex global shocks and the central role of the United Nations in this regard.”
The UN defines “complex global shocks” as events that “have severely disruptive and adverse consequences for a significant proportion of countries and the global population”. These shocks would require a “multidimensional multistakeholder, and whole of government, whole of society response.”
The document says “armed conflict” does not constitute a complex global shock”, but could lead to “impacts across multiple sectors”.
These potential shocks would necessitate the activation of “emergency platforms” which could grant the UN more power to respond to these apparent emergencies. The document says the UN will present member states with “protocols for convening and operationalizing emergency platforms based on flexible approaches to respond to a range of different complex global shocks”.
While the UN claims these emergency platforms will only be “convened for a finite period”, and will not be a standing institution or entity with respect to national sovereignty, critics of the UN fear that these emergency platforms will be seized upon and used to grant the UN new legal powers.
TLAV has previously reported that calls for an Emergency Platform are similar to calls for the UN to declare a planetary emergency. UN-affiliated organizations like the Climate Governance Commission (CGC) have been calling for such a declaration over the last year.
In late November 2023, just before the opening of the UN Climate Change Conference COP28, the Climate Governance Commission released a report titled Governing Our Planetary Emergency. In this report, the CGC continues their advocacy for updating our ideas on governance.
We can trace the call for a Planetary Emergency back to the infamous but obscure group, the Club of Rome. The CGC’s November 2023 report even notes that the belief in a “polycrisis” is “recognized in the work of the Club of Rome Planetary Emergency Project“.
This reference to the Club of Rome reveals yet another reason the public ought to be concerned with the push for a planetary emergency and claims of crossing planetary boundaries
The Club of Rome has been calling for declaring a Planetary Emergency since at least 2019 with the publication of their “Planetary Emergency Plan”. The report would be updated in August 2020, after the beginning of COVID1984.
The Club of Rome’s Emergency Plan is described as a “roadmap for governments and other stakeholders to shift our societies and economies to bring back balance between people, planet and prosperity”.
Ultimately, the push for an emergency platform as part of the Pact for the Future is intended to reinforce the idea that humanity is facing a Planetary Emergency which requires the UN’s influence and authority to be increased.
The document shies away from the term world or global government — instead preferring multilateralism or global governance — but the outcome is the same: a United Nations with more authority to act and compel nation states to comply with its edicts.
For example, under a section titled “Transforming Global Governance”, the UN document outlines “Action 41”:
“We will transform global governance and reinvigorate the multilateral system to tackle the challenges, and seize the opportunities, of today and tomorrow.”
The section goes on to describe numerous ways in which the Pact for the Future intends to transform and empower the UN to tackle the emergencies facing the planet.
Resetting the Financial System
The latest draft of the Pact for the Future also outlines specific ways in which the “international financial architecture” should be reformed so that it “supports countries equitably during systemic shocks and makes the financial system more stable.”
Specifically, section 82 states that the “growing frequency and intensity of global economic shocks” has slowed down progress on the completion of the UN SDGs. The solution, according to the Pact, is to “recognize the role of Special Drawing Rights (SDRs) in strengthening the global financial safety net in a world prone to systemic shocks”.
SDRs are not considered a currency but instead are considered “foreign exchange reserve assets” which allow IMF member nations to exchange SDRs for a currency held by IMF members. Interestingly, independent researcher James Corbett warned about the potential for the SDRs to become a “world reserve currency” as far back as 2013.
The Pact for the Future makes it clear that SDRs will indeed play a major role in the transformation of the international financial system.
“We welcome the pledges to rechannel over $100 billion worth of SDRs to developing countries while stressing the urgency of delivering on these pledges to developing countries as rapidly as possible,” the draft states.
The draft also notes that the UN will call on nations to “continue to explore options to voluntarily rechannel at least half of SDRs from the 2021 allocation, including through multilateral development banks, while respecting relevant legal frameworks and preserving the reserve asset character of Special Drawing Rights.”
Further recommendations of the draft include encouraging the International Monetary Fund to “explore all options to continue to strengthen the global financial safety net” to help developing nations respond to “macroeconomic shocks”.
Under “Action 55” it states, “We will accelerate the reform of the international financial architecture so that it can meet the challenge of climate change.”
The Pact mentions Multilateral Development Banks again, calling on these institutions to “increase the availability, accessibility and impact of climate finance to developing countries” and supporting these countries as they develop strategies to fight climate change.
There are multiple sections in the draft with references to these banks and their need to “mobilize additional financing” to support “adaptation and deploy and develop renewable and energy efficiency technologies”.
The document repeatedly mentions these “Multilateral Development Banks” and they are clearly going to be an important piece of the UN 2.0 system. TLAV will be investigating these institutions in future reports.
The stated goal of reforming the international financial system to fund the SDGs and Agenda 2030 mimic recent statements made by UN Secretary General Antonio Guterres where he called for a “new Bretton Woods moment”, referencing the infamous 1944 international agreement that established the IMF.
The Breton Woods meeting also adopted rules for governing monetary relations among independent states, including requiring each nation to guarantee convertibility of their currencies into U.S. dollars.
Guterres noted that in 2022 the IMF allocated $650 billion in SDRs, with the European Union nations receiving 160 billion dollars in SDRs and African countries receiving only 34 billion dollars.
Additionally, a UN document on the Summit of the Future titled, What Would it Deliver?, calls for “A Global Financial System That Works For All”.
“A transformed international financial architecture is fit for purpose, more inclusive, just, representative, effective, and resilient, responsive to the world today rather than as it looked following the Second World War. This architecture invests up-front in SDGs, climate action, and future generations.”
These calls mirror similar ones made during the “Summit for a New Global Financing Pact” held in Paris, France in June 2023.
The Summit, led by French President Emmanuel Macron, welcomed 50 heads of state, representatives of NGOs and civil society organizations to discuss the effort to reset the international financial system as part of the continued push towards the 2030 Agenda and Net Zero goals.
The French government stated that the objective of the gathering was to “build a new contract between [the global] North and South” which will better equip the nations to fight poverty and climate change.
The summit was attended by US President Joe Biden, German Chancellor Olaf Scholz, British Prime Minister Rishi Sunak, and Brazilian President Luiz Inacio Lula da Silva.
In addition to heads of state, the summit was organized with support from the Open Society Foundations, the Bill and Melinda Gates Foundation, and the Rockefeller Foundation, among others.
Based on these previous statements from the UN and the draft of the Pact for the Future, it is clear that a resetting of the financial system is a crucial component of their plans.
If there is any chance to prevent the signing of the Pact for the Future, the creation of emergency platforms, and the potential declaration of a planetary emergency, we must spread the word quickly.
Additionally, we ought to put our energy into the creation of alternative, parallel systems which can compete with the Technocratic State directly. This is why I am helping produce The People’s Reset: UK, “Our Summit for Our Future”, taking place in Bath, UK the weekend after the UN’s Summit.
For 3 days we will host 24 presenters from around the world with a focus on solutions for creating these much-needed parallel systems in the areas of health, finance, education, digital technology, and community building. Together we can create the more beautiful world we know is possible.
TLAV will be on the ground in New York City reporting from the Summit of the Future. Stay tuned for updates as we document this historic gathering of globalists.
Copyright 2024 The Last American Vagabond
@ Newshounds News™
Source: Vigilant News
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BRICS: 3 MAJOR ANNOUNCEMENTS TO EXPECT AT THE 2024 SUMMIT
The BRICS economic alliance is headed toward what may be the most important event in its history. The bloc’s annual summit has become a vital meeting for the group. Moreover, this year’s iteration looks to be filled with the potential for groundbreaking developments to arise. Specifically, the BRICS collective is expected to share 3 major announcements throughout its 2024 annual summit.
In 2023, the group enacted its first expansion since 2001. A landmark moment for the bloc, the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran joining the bloc. With its members now reaching nine, there are some thoughts that this year’s announcements could be even more groundbreaking.
1. BRICS Pay to Make Its Long-Awaited Arrival
Perhaps the most important focus for the alliance as it approaches its 2024 summit is the arrival of BRICS Pay. For the past two years, de-dollarization has been a focal point for its infrastructure. With talks of a native currency fizzling out, its own payment system is set to be a game-changer.
Blockchain-based, it should be one of the biggest geopolitical and economic developments of recent years. Moreover, it will operate as the global south’s answer to the Western-dominated SWIFT payment system. Specifically, in its allowance of nations to conduct increased bilateral trade in local currencies.
Since 2022, and the weaponization of the US dollar, BRICS has fast-tracked these efforts. Earlier this year, Russia loosened its legal restrictions on cryptocurrencies. Therefore, leading many to believe that this new payment system is critical to its ongoing trade dealings.
It couldn’t have come at a better time either. In the last six months, Russian trade with the bloc has increased 14.7%. That figure is present even with China reportedly returning 80% of all transactions in the Ruble.
The BRICS Pay project is set to be the cornerstone of the event. Its presence should serve as a key turning point for the economic grouping for years to come. Not only is it the natural next step in lessening reliance on the greenback, but it opens a world of possibilities for trade dealings within the bloc.
Earlier this year, Russian President Vladimir Putin traveled to North Korea, Iran, and India to facilitate new trade dealings. These agreements should factor in heavily. Specifically, non-BRICS members should be able to increase trade with the group. Thus, contributing to its local currency goals.
2. Another Expansion to Grow Bloc Beyond 10 Members
Following last year, the BRICS 2024 summit will see the world anticipate an announcement regarding continued expansion. In 2023, it issued more than six invitations to join the alliance. Subsequently, there has undeniably been increased interest in nations seeking to follow the four countries that accepted.
Earlier this year, more than 30 nations confirmed interest in joining BRICS. Interestingly, that figure may have only gotten bigger as the year has gone on. In a surprising development, NATO member Turkey announced its interest in becoming a member.
They join countries like Venezuela, Nigeria, Malaysia, and Thailand, all seeking entry. Every nation listed has reason to want to become a member. Moreover, they all bring some sort of value to what the collective is building. However, the question of expansion is one only the current members can answer.
The year has been full of uncertainty regarding continued expansion. It is easy to forget that the four nations included in 2023 were the first to join since South Africa more than two decades prior.
There is value to continued growth, but dissension toward the merit of that value. Currently, the bloc appears split on whether or not a 2024 Summit expansion announcement would be beneficial to the overall goals of the bloc.
The Saudi Arabia issue still looms large. Although they accepted the invitation, the nation has yet to join the bloc. That has created concern regarding continued invitations. Earlier in the year, the idea of partner nations—as opposed to full members—was discussed. That is likely to be the announcement, with several of the prospective countries included.
3. New Development Bank Gets Highlighted as 10-Year Anniversary Approaches
Finally, the BRICS 2024 Summit should place a focus on its New Development Bank. More aptly known as the BRICS Bank, it is approaching its 10-year anniversary in 2025. Therefore, it is expected that a roadmap or strategic announcement of some sort should be in the works.
In August, BRICS Bank president Diane Rousseff noted that local currency promotion remains a main focus. Moreover, the development bank welcomed its first additional member country since 2021. Indeed, Algeria joined the bank in a notable addition.
Therefore, many experts predict the BRICS banks to be involved in some way. It has been a staple of the economic alliance since it launched in 2015. Moreover, it has been key to providing developing nations with access to local currencies. In that sense, it provides an invaluable quality to the purpose of the bloc itself.
Already issuing more than $5 billion in loans, there is more expected. Moreover, native currency loans are expected to become its primary funding method. It is also likely that the BRICS Pay system could become a critical aspect of its operations after it launches in October.
All of these are focal points as the day draws near. Overall, it should be one of the most important geopolitical developments of 2024. Additionally, it could rival the landmark announcements that took place just a year prior.
@ Newshounds News™
Source: Watcher Guru
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Janet Yellen No Red Lights for Financial System | Youtube
@ Newshounds News™
Source: Currency Facts
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