Go Lean Commentary
How did the world measure money and wealth in the past? Simple: Gold.
Then in 1971, the US changed from the Gold Standard … to a Non-Gold Standard or Fiat money. (The Gold Standard refers to the monetary system in which the standard economic unit of account is based on a fixed quantity of gold. Most nations abandoned the gold standard as the basis of their monetary systems at some point in the 20th century). Now the value of American money is measured by “American money” (declared value). But wait, wait: the rest of the world’s money is also now measured by American money – the world measures money and wealth by US Dollars! (See the Appendix VIDEO below).
Even in Europe; when the Euro currency was launched in 1999, it was pegged close to the US dollar 1-to-1.17. Today, the world’s economy is measured by US Dollars (USD) and the Euro, which continue to be the primary reserve currency of most commercial and central banks[54]. The Dollar is first and the Euro is the second most widely held international reserve currency. As of August 2018, with more than €1.2 trillion in circulation, the Euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.S. dollar.[13]
Now the rest of the world – China most definitely – wants to de-Americanize the world’s economy. The world’s population is nearly 7 billion people, while the combined populations of the US and the EU is a little less than 1 billion; (340 million + 508 million respectively). There are some Big countries and Big economies at stake: think China with their 1.3 Billion people or India with their 1.2 Billion. It is therefore logical to contemplate de-Americanizing the world’s economy – it makes so much sense. In addition, at the time of this writing, the US is in the midst of a federal government shutdown … again.
It is therefore plausible, viable and prudent for non-American stakeholders to want to be shielded from American chaos. See this reasoning in this White Paper here; published by the Government of Canada:
Title: Chimerica – The Beginnings of a New Regional Reserve
What is it?
Chinese concerns over the ability of the U.S. to manage its debt have led to recent calls by China to “de-Americanize” the world economy and seek an alternative to the U.S. dollar as the international reserve currency.1 As far back as 2008, China proposed the need for a new international currency reserve which would limit the importance of any one national currency.2In recent times, the U.S. economy has avoided a debt crisis by raising the debt ceiling level. Any adjustment has the potential to impact the Chinese economy, given the level of exposure to U.S. securities. The People’s Bank of China (PBOC) has amassed US$3.5 trillion in foreign reserves – largely U.S. Treasury securities. The fact that a single institution wields so much influence over global macroeconomic stability has caused considerable anxiety, with doomsayers predicting that doubts about U.S. debt sustainability will force China to sell off its holdings of U.S. debt. This would drive up interest rates in the U.S. and ultimately could trigger the dollar’s downfall.
However, selling off U.S. Treasury securities may not be in China’s interest, as it would drive up the renminbi’s (RMB) exchange rate against the U.S. dollar, diminishing the domestic value of China’s reserves and undermining the export sector’s competitiveness. Indeed, a U.S. Defense Department report last year on the national security implications of China’s holdings of U.S. debt concluded that “attempting to use U.S. Treasury securities as a coercive tool would have limited effect and likely would do more harm to China than to the [U.S.].”3
U.S. debt is only one side of the coin. Economist Robert Shiller believes that the real estate bubble is a serious problem in China.4 According to Shiller, people are buying apartments in the expectation that house prices will continue to rise. This gambling mentality is leading them to make completely irrational buying decisions. Slowing economic growth and exports has the potential to expose a serious financial bubble in the Chinese housing sector. The banking sector in China would need to be recapitalized should the Chinese housing bubble burst.
Why is it important?
The symbiotic relationship between Chinese export-led growth and U.S. consumption is such that should one economy falter the other will follow. Both of these disruptors exist against a backdrop of rising bilateral trade using national currencies and a call by the International Monetary Fund for a new global currency to replace the U.S. dollar.5Research by AMRO-Asia, the chief economists of ASEAN+3, finds that while the U.S. remains the anchor currency in the Asian region, the U.S. dollar has “seemingly lost its dominating status.”6 At the same time, the weight of the RMB in regional currency baskets has been increasing since 2005.7 8 The rise of the RMB as the Asian regional reserve has implications for regional trade and global growth. In the long run, the success of the U.S. economic pivot to Asia is likely to be slowed by the rise of the RMB and the corresponding decline in U.S. economic power. Over the last decade, U.S. growth has been facilitated by Chinese holdings of U.S. securities. Questions remain as to whether a decoupling in the long run will have a positive outcome for China and the U.S. as well as global growth.
References
- Puzzanghera, J. “Upset over U.S. Fiscal Crisis, China Urges a ‘de-Americanized World’.” Los Angeles Times. October 2013. http://www.latimes.com/business/money/la-fi-mo-china-debt-limit-shutdown-de-americanized-economy-20131014,0,1990632.story#ixzz2mwhEb6II(link is external)
- Landler, M. “Seeing its Own Money at Risk, China Rails at U.S.” The New York Times. October 2013. http://www.nytimes.com/2013/10/16/us/politics/china-rails-over-us-fiscal-crisis-seeing-its-own-money-at-risk.html?_r=0(link is external)
- Morrison, W. and M. Labonte. “China’s Holdings of U.S. Securities: Implications for the U.S. Economy.” (CRS Report for Congress.) Congressional Research Service. August 2013. http://www.fas.org/sgp/crs/row/RL34314.pdf(link is external)
- “2013 Nobel Prize winner: China’s real estate bubble is serious.” People’s Daily Online. October 2013. http://english.people.com.cn/business/8427784.html(link is external)
- Snyder, M. “Shift From U.S. Dollar As World Reserve Currency Underway – What Will This Mean For America?” munKnee. http://www.munknee.com/shift-from-u-s-dollar-as-world-reserve-currency-underway-what-will-this-mean-for-america/(link is external)
- Chen, C., R. Siregar and M Yiu. “RMB as an Anchor Currency in ASEAN, China, Japan and Korea Region.” ASEAN+3 Macroeconomic Research Office. April 2013. https://www.cb.cityu.edu.hk/ef/doc/Conference%20on%20Renminbi%20and%20the%20Global%20Economy/papers/Chuling%20Chen.pdf(link is external)
- Chong, F. “Is RMB Approaching Safe Haven Status?” Asia Today International. June 2013. http://asiatoday.com.au/content/rmb-approaching-safe-haven-status(link is external)
- Irwin, N. “This one number explains how China is taking over the world.” Washington Post. December 2013. http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/03/this-one-number-explains-how-china-is-taking-over-the-world/
Source: Government of Canada – Posted September 28, 2018; retrieved January 17, 2019 from: http://www.horizons.gc.ca/en/content/chimerica-%E2%80%93-beginnings-new-regional-reserve
This commentary continues a 5-part series on European Reckoning. This entry is 2 of 5 in this series from the movement behind the book Go Lean … Caribbean in consideration of the past, present and future of European interactions. While the Caribbean were all settled and organized by European powers, the lack of organizational efficiency for our benefit is a glaring concern. We have 30 member-states in the Caribbean region and yet, there is no coordinated regional stewardship of the economic, fiscal and monetary affairs of our communities. The other commentaries in the series are cataloged as follows:
- European Reckoning: IMF Apologies
- European Reckoning: China seeks to de-Americanize the world’s economy
- European Reckoning: Settlers -vs- Immigrants
- European Reckoning: Christianity’s Indictment
- European Reckoning: Black “Greco-Roman” Wrestler victimized for his hair
In the first submission of this series, the European Great Powers were also identified as the Western Alliance. It’s comprised of only White/Christian European nations and North America (US & Canada). It is understandable therefore if Asian, African or Latin American people do not feel adequately represented in the governance of the world’s economy. Yes this status quo is flawed. The US, being the dominant currency in global trade has proven fraught with deficiencies. The aft-mentioned “shutdown” – when Congress fails to pass sufficient appropriation bills or continuing resolutions to fund federal government operations and agencies, or when the President refuses to sign such bills or resolutions into law – is not the first one. In fact, there have been these previous shutdowns in the last 40+ years:
Since 1976, when the current budget and appropriations process was enacted, there have been 22 gaps in budget funding, 10 of which led to federal employees being furloughed. – Source: Wikipedia
The world must not wait for the US to get their political house in order before we can do business. China is a strong advocate for this de-Americanizing effort. Does this mean they want to supplant the US Dollar for their own Renminbi? (This is the currency of the People’s Republic of China, the basic unit of which is the yuan). If the answer to this question is Yes, then that would be China’s prerogative to address the needs of their economy.
Our focus in the Caribbean, must be first and foremost the Caribbean.
The advocacy of the movement behind the Go Lean book is to implement the institutional solutions to do the heavy-lifting ourselves to manage our own economic, fiscal and monetary affairs.
- Not to be a parasite of the United States of America or Europe.
- Not to be a parasite of China.
The proposed solution is the Caribbean Central Bank (CCB); this is structured as a formal “cooperative” among the region’s existing Central Banks. The CCB is modeled upon the European Central Bank (ECB), the same as the Caribbean Union is modeled upon the European Union. This CCB institutional strategy also calls for the introduction of a regional currency, the Caribbean Dollar (C$). The CCB will therefore be the sole controlling agent of the monetary policies of this regional C$ currency.
Introducing and implementing a new currency is a Big Deal. But yes, we can succeed! We have a proven track record – the Euro – to model and learn from. This theme of technocratic monetary and currency stewardship has been detailed in many previous Go Lean commentaries; see a sample list here:
| https://goleancaribbean.com/blog/?p=15923 | Industrial Reboot – Payment Cards 101 |
| https://goleancaribbean.com/blog/?p=14248 | Leading with Money Matters – Almighty Dollar |
| https://goleancaribbean.com/blog/?p=13744 | Failure to Launch – Economics: The Quest for a ‘Single Currency’ |
| https://goleancaribbean.com/blog/?p=13365 | West African Case Study: ECOWAS to Launch ‘Single Currency’ |
| https://goleancaribbean.com/blog/?p=10585 | Two Pies: Economic Plan for a New Caribbean |
| https://goleancaribbean.com/blog/?p=10513 | Transforming ‘Money’ Countrywide – Lessons Learned from India |
| https://goleancaribbean.com/blog/?p=8704 | Lessons Learned from NYC’s Transit Currency: MetroCard |
| https://goleancaribbean.com/blog/?p=8381 | Caribbean Economic Fallacy: Casino Currency US Dollars Only |
| https://goleancaribbean.com/blog/?p=7034 | The Future of our Money – C$ Currency & Mobile Payment Systems |
| https://goleancaribbean.com/blog/?p=4425 | Caribbean Dollar Reality: Cash/Coin, Payment Cards and iPhone |
| https://goleancaribbean.com/blog/?p=3814 | Lesson Learned from the Swiss Currency Management |
| https://goleancaribbean.com/blog/?p=906 | Implementing a Regulatory framework to dissuade ‘risky’ currecy |
| https://goleancaribbean.com/blog/?p=833 | One currency, divergent economies |
| https://goleancaribbean.com/blog/?p=360 | Why need local/regional currency? To Create Money from Thin Air |
Having the American Dollar regulate the world economy has not been good … for anyone but America, when “they” are operating in a Situation Normal. But today, and 22 times in the last 43 years that they have had government shutdowns, it is Situation Normal All Foul Up (SNAFU). Moving that currency functionality to the Euro may be more of the same: there is also discord in the Euro lands – think Brexit and the Greece Sovereign Debt crisis.
What about moving the “world currency” functionality to China, or India, or Japan? Again, while these moves may be good for those countries, they may not necessarily be as good for the rest of the world, or our world in the Caribbean. This is what independence should mean to us: taking care of our own economic, fiscal and monetary needs. Even better than independence would be a regional interdependence among just our Caribbean neighbors.
Now is the time for the Caribbean region to lean-in for this roadmap for the Caribbean Union Trade Federation and the Caribbean Central Bank, as described in the book Go Lean … Caribbean. The benefits of this roadmap are vast and varied, but first we stop being a parasite of these European-North American (White) World Powers; not parasites, we become protégés instead.
Yes, we can … make the Caribbean, our homeland, a better place to live, work and play. 🙂
About the Book
The book Go Lean…Caribbean serves as a roadmap for the introduction and implementation of the technocratic Caribbean Union Trade Federation (CU), for the elevation of Caribbean society – for all member-states. This CU/Go Lean roadmap has these 3 prime directives:
- Optimization of the economic engines in order to grow the regional economy to $800 Billion and create 2.2 million new jobs.
- Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
- Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.
The Go Lean book provides 370-pages of turn-by-turn instructions on “how” to adopt new community ethos, plus the strategies, tactics, implementations and advocacies to execute so as to reboot, reform and transform the societal engines of Caribbean society.
Download the free e-Book of Go Lean … Caribbean – now!
Who We Are
The movement behind the Go Lean book – a non-partisan, apolitical, religiously-neutral Community Development Foundation chartered for the purpose of empowering and re-booting economic engines – stresses that reforming and transforming the Caribbean societal engines must be a regional pursuit. This was an early motivation for the roadmap, as pronounced in the opening Declaration of Interdependence (Pages 12 – 13):
xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.
xii. Whereas the legacy in recent times in individual states may be that of ineffectual governance with no redress to higher authority, the accedence of this Federation will ensure accountability and escalation … for good governance, justice assurances, due process and the rule of law. As such, any threats of a “failed state” status for any member state must enact emergency measures on behalf of the Federation to protect the … member states and the Federation as a whole.
xxiii. Whereas many countries in our region are dependent Overseas Territory of imperial powers, the systems of governance can be instituted on a regional and local basis, rather than requiring oversight or accountability from distant masters far removed from their subjects of administration. The Federation must facilitate success in autonomous rule …
xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.
xxv. Whereas the legacy of international democracies had been imperiled due to a global financial crisis, the structure of the Federation must allow for financial stability and assurance of the Federation’s institutions. To mandate the economic vibrancy of the region, monetary and fiscal controls and policies must be incorporated as proactive and reactive measures. These measures must address threats against the financial integrity of the Federation and member-states.
Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.
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Appendix VIDEO – How The U.S. Dollar Shaped The World Economy – https://youtu.be/EbJk1za74kE
NBC News
Published on Dec 21, 2014 – The official currency of the United States, the Federal Reserve Note, marks 100 years since it was first printed. Matt Rivera tracks the rise of the world’s reserve currency.
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How The U.S. Dollar Shaped The World Economy | Long Story Short | NBC News
- Category: News & Politics
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See an alternative yet relevant VIDEO here: https://youtu.be/CQMiNu6FI4M

When we refer to Europe’s future, we are referring to the tenuous status in their integration movements – think European Union (EU), IMF, and the resultant
While none of the 29 NATO members include any Caribbean independent states, 16 Caribbean Overseas Territories are thusly aligned as dependents of the American (2), British (6), Dutch (6) and French (4) imperial powers. Plus with the Caribbean Basin Security Pact, the full Caribbean – except Cuba – is aligned with NATO members: United States and Canada.
The 
In Greece, the IMF violated its own cardinal rule by signing off on a bailout in 2010 even though it could offer no assurance that the package would bring the country’s debts under control or clear the way for recovery, and many suspected from the start that it was doomed.
This ‘Tribalism’ is the reckoning that Europe is doing right now regarding the IMF. They are reconciling their past, present and future and recognizing that they now have to build trust, anew – see the Appendix VIDEO below.
Today – January 15, 2019 – would have been the 90th birthday for American Civil Rights hero Martin Luther King (1929 – 1968). Though an American drama, MLK was impactful for the entire world and every Civil Rights struggle. An assassin’s bullet ended his life of sacrifice on April 4, 1968.


The responsibility to assuage these bad behaviors must lie first with the religious institutions. But any failure to deliver protection by these institutions would truly mandate that the “State” (government) step in and deliver.


Indian Widows
This is the Year 2019 and we are still talking about women being suppressed, oppressed and repressed in society. Change just doesn’t happen because the ‘clock is ticking’. No, people have to forge change, overcome the obstacles and embed the needed new value systems to get improvements institutionalized instead of just a passing trend. Change takes heavy-lifting.
This is what all the rave is about with this fascinating play; it tells the story of America’s founding fathers through the eyes of the immigrant experience. (This writer saw Hamilton on December 28, 2018 at the Broward Performing Arts Center in Ft Lauderdale, FL).
I’ll admit, I was skeptical going into the play. My friend and I had gotten tickets when they first went on sale almost 9 months before opening night. We saw it in its first month on Broadway after the success off-Broadway. I remember sitting in my chair prior to the curtain rise, uncertain of whether I’d like a modern take on a history. Could it reach across the aisle of race? Could it hold attention of a subject most forget about? Would I get it? Did I really wait 9 months and spend hundreds of dollars for something that might just be weird? It took exactly 1 minute until those questions left my mind and instead I was entrapped, enamored, enthralled with this play that lives up to one of the numbers “non-stop.” It was a non-stop journey, filled with humor, and anguish, and longing. I was converted. I was in love.
I went to see it a second time a few months, later, unable to wait until the soundtrack was finally released, I bought a resale ticket at far too high of an amount for my poor social work status. But I had to go, the play had brought about a plague within me; this wasn’t just a good show, it was something far beyond. Much like its creator Lin-Manuel Miranda, I began what has still been obsessive task of reading book after book on Hamilton, and the rest of those influential individuals who shaped the country. I wake up with the music in my head, and despite my best efforts, can’t stop listening to the songs. And then it hit me. This isn’t just a great musical and it’s not just because it is new and different, it’s because despite almost 300 hundred years since this man stood with the revolution, its relevant. And not in the way you think.
“History Has Its Eyes On Us” is the title of a song in the Hamilton Play – see Appendix VIDEO – and also a truism. There are lessons we must learn from the history of Alexander Hamilton. We must, like he did, fight for change and progress; as conveyed in the foregoing article:
The Year 2018 is now over, and what an impactful year it has been. In fact, an analysis over the annals of time shows that all years ending in “8” seems to be impactful, especially in the last 100 years. We are truly able to concur with the American Media (Radio and TV) tagline: “News on the 8’s“.

Technology has also pounced on the modern world, the Caribbean included; what started as a counter-culture revolution – nerds, geeks and techies – has become mainstream and normal. People today are walking around with a computer in their pockets (smart-phones) that far exceeds Big Mainframe systems (


The book scanned the landscape in the Caribbean and found a lot of deficiencies in the economics, security and governance in the region. For example, for those 5 years the movement behind the Go Lean book have been telling people that there is an overriding need for a technocratic postal solution in the Caribbean region. This is how to keep up with the demands of globalization.

Imagine a Caribbean reality with flat-rate envelopes and flat-rate boxes. Imagine the automation, the robotic technologies, the scanning and sorting. The brand CPU would really be apropos – more software, e-Commerce and Internet Communications Technology – as opposed to the neighborhood mail-carrier. See this industrial shift in the related news article in the Appendix below. In fact, the company 

Now is the time to ask ourselves: should the British neo-colonial status continue? Is it time to consider a formal exit?
But, these European territories (colonies) in our region are too small to effect change alone; therefore there is the need to convene, collaborate and confederate as regional neighbors. Of the total (30 member-states), there are 18 that reflect some British neo-colonial stance (overseas territory or commonwealth member). In addition there are 6 direct territories (Aruba and the 5 formerly branded 

We are being reminded of this sad reality of aging by the life-and-death of the 41st President of United States of America. At the end of his life, this able-bodied man (former war hero) was bound to a wheelchair.
As related above, American society is at the matured level now in their Social Contract deliveries. They now expect the standard to be “reasonable accommodations” so that Persons with Disabilities can participate in and contribute to society. This was not always the case, and then George H.W. Bush came along and forge change in American society. This is not the standard in the Caribbean member-states … yet. But part of this reboot effort – the quest of the Go Lean roadmap – is to reform and transform the societal engines to benefit all members of the community, able-bodied or not.