Whole Eastern World Rebelling Against the Dollar-Jim Willie
On April 6, 2014 In Media 163
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Financial newsletter writer Dr. Jim Willie thinks
2014 will be a pivotal year for the U.S. Dr. Willie says, “We’re going
to end this year with no resemblance to the beginning. We spent a lot
of years trying to hold this thing together. The whole system broke in 2007 and 2008 with the subprime
mortgages. I was saying before that we’ve got the entire U.S. economy
depending on the housing bubble and the mortgage finance bubble, and when that
breaks, the system is going to break. In the following couple of years, it
continued to break. What did we do? We went to zero percent interest rates
and made it pretty clear it’s forever. What else did we do? We did
bond monetization, QE. I love QE, it makes it sound like CPR. It’s
death. It’s hyper-monetary inflation. It’s what Nazi Germany did . .
. it wrecked everything. These are desperation measures to hold it
together because the system is broken.” Dr. Willie, who holds a PhD in
statistics, contends, “Now all the QE and bond purchases are causing some
major problems, breaking major economic structures. . . It’s all breaking, it’s
all breaking, and they are having a tremendous problem holding it
together. Now, the whole Eastern World is rebelling against the
dollar.”
On U.S. sanctions on Russia over the Ukraine
crisis, Dr. Willie says, “This is stage two on the sanctions
backfire. The first one was the 2012 Iran sanctions. What did that
accomplish? They worked with India and Turkey to create the workaround,
which is what I call the prototype for gold trade settlement. . . . This is so
basic.” The second “backfire” is the recent Russia/Iran deal that trades
Iranian oil for Russian goods. Dr. Willie declares, “We would have never gotten
the Russian deal with Iran . . . to flood the world with oil that is not paid
for in dollars. Also, to establish a pattern so that other countries can
see you can go ahead and make deals to buy oil and don’t use the dollar.
This is a boycott, and it’s a defiant step that is like saying follow our
lead. It’s a model being created. Can you imagine Saudi Arabia
importing oil? That’s like New York City importing arrogance. . . . This
is a backfire against the Russian sanctions.” Dr. Willie goes on to
say, “What we got is a Eurasian axis that is starting to form. It’s going
to be Russia, China, India, and later, I think Germany is going to play a key
role. Saudi Arabia and Iran are going to play a very strange role.
They are going to end their conflict.”
On when the rest of the world stops using the U.S.
dollar after more than 40 years, Dr. Willie says, “I think we’ve gone 10 years
longer than its ordinary lifetime should have been, and now we are on the death
throws. . . . They are coming up with a gold-backed ruble . . . If the U.S.
wants to push them and poke sticks in the Russian bear’s face, they’re going to
turn around and say ‘alright, we hear you. We’ll only accept [gold-backed]
rubles. We understand you want us to remain isolated and not use the
dollar.’ The backfire is the Eastern Hemisphere has a critical mass, and
this is something you just don’t hear in the Western press. It may be
critical mass because it may be the majority of global trade. How do you
isolate something that may be the majority of global trade?”
How will this move away from the U.S. dollar effect
America? Dr. Willie says, “The United States is going to find itself in a
place where the U.S. Treasury bond is no longer of value. They are going
to create a lot of paper, mythical, fictional, phantom demand, and that is going
to cause the system to break.” Countries holding Treasury bonds are
not waiting as Dr. Willie contends, “They have already started dumping. In
the thirty days ending March 13, foreign nations dumped $100 billion in Treasury
bonds. The United States tried to keep that quiet.” Dr. Willie goes
on to say, “The new dollar, the Republic dollar, that will come about will have
to be devalued 80%, which is going to result in a tremendous increase in
imported prices.” Dr. Willie predicts that import price increase will
eventually be a whopping “400%.” Willie says before it’s over, the
USA will suffer. He predicts, “The local American citizens are going to
wonder ‘how come the shelves are empty?’ This is third world,
guys.”
On gold and silver prices, Dr. Willie predicts,
“They are going to move it to $5,000 to $7,000 an ounce, and silver $200 to $400
per ounce. Because all the world’s central banks are going to need
gold, they are going to sell Treasury bonds to buy gold to make for a solution
to their banking systems. What’s the solution? It’s legitimate
reserves, hard asset gold reserves.”
In closing, Dr. Willie predicts, “I think you
are going to see, by the end of this year, that the dollar is mortally wounded
and Treasury bond regarded as toxic paper.”
Join Greg Hunter as he goes One-on-One with Dr. Jim Willie, Editor of “The
Hat Trick Letter,” which can be found on GoldenJackass.com.
(There is much, much more in the video interview.)
http://youtu.be/Z3M5FWZxDXg
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