You’ve been seeing and hearing that term “race to the bottom” being tossed about these days. Make no mistake about it we are in the reset and have been since Legarde made this announcement on 1/27/2016. 44 seconds that change the world we live in. http://www.imf.org/external/mmedia/view.aspx?vid=4724940772001
No big bang. No bells and whistles. Just a silent message that no one paid any attention to. Then on 2/4/2016 she announced the next phase of the reset with this, the race to the bottom. http://www.imf.org/external/mmedia/view.aspx?vid=4739483862001
The “race to the bottom” goes like this as it all relates back to what Basil III compliant means. Say the USA has 20 trillion FRNs in circulation at this time. The quota for the USN is established at 10 trillion based on the USA net worth thus we have a problem. The solution is to devalue the FRN down to 10 trillion. Every country is guilty of printing fiat money. Now that fiat money has come home to roost. IMHO why the new currencies haven’t hit the market place is that all of these countries have been given some time to bring their currency into line with their quota. How much time? Don’t know. Maybe tomorrow. Maybe next week but definitely by June 30th.