Published on Feb 10, 2014
This video summarizes and explains the methods used by the NSA to carry out surveillance on global citizens.
Tuesday, February 11, 2014
Wednesday, February 5, 2014
Economic Collapse News 020514 - US Dollar Collapse in 2014?
Today I
spoke at some length with Jim Willie, Editor of The Hat Trick Newsletter
published on The Golden jackass.com website. I have read many of Jim’s reports
since 2009, and heard numerous interviews with him. What has always impressed
me about Jim is the depth of his analysis which far surpasses that of almost
all analysts, even in alternative media. I will be posting the full interview
with Jim in a couple of days because I need to do some editing due to some
minor audio problems. However what I took away from this interview was the
following:
1. The Petrodollar is definitely on
its way out which means that the reign of the US dollar as World Reserve
Currency is almost at an end. The US and Saudi Arabia who were like conjoined
twins till not that long ago are publicly butting heads. It seems that the
Saudi oil fields may truly be running dry and therefore it is no longer
considered a strategic US ally, and is being thrown to the wolves. Iran on the
other hand with a 1/3rd of known oil reserves in the world, and with one of the
largest natural gas deposits in the world is going to play an increasingly
important role as a major oil supplier to Asia and Europe, and will therefore
not be attacked or invaded since it is considered to be of great strategic
importance to China and Russia, and to lesser extent to India, and even Japan
and Korea that depend on oil supply from Iran. Although I did not discuss this
with Jim, I believe Israel which does not have oil or other strategically
important resources will become more isolated and less protected by the US in
the future, much like Saudi Arabia.
2. A lot of oil purchases are already
being settled not in US dollars but in gold, in Yuan, in Ruble and other trade
settlement agreements designed specifically to bypass the dollar. This would
have been unthinkable even 5 years ago, so the world has changed dramatically
since the Great Financial Crisis began in 2007. When we consider the plethora
of bilateral and multilateral trade agreements that have been signed between
various nations, and by various nations and regions with China in particular,
it becomes apparent that the US dollar is not going to lose its Reserve
Currency status in the future; it has already happened to a large extent and
its demise as THE Currency of the World is hastening by the day. Jim Willie,
Jim Sinclair, and Gerald Celente and other well respected analysts and
forecasters are predicting 2014 to be THE year when this demise becomes public
knowledge. This may be the year when China, Russia and other major holders of
US debt notes aka US treasury bonds will begin to dump them openly as they have
been doing stealthily for some time now. Thus will come to pass the seminal
event of this century with far reaching consequences, greater than 9-11, the
collapse of the US dollar.
3. Eastern countries, China in
particular, have been accumulating gold at a fantastic rate. Jim Willie thinks
China may have bought as much as 20,000 metric tons already. Russia too has
been buying gold; India may have as much as 30K tons of gold in private hands
if not yet in Govt. hands. The purpose of this gold accumulation, especially by
China is to bring in a new gold backed currency for trade settlements,
essentially a Reserve Currency to compete with, and perhaps replace the US
dollar. Towards this goal the BRICS nations, Brazil, Russia, India, China and
South Africa have been working towards a Central bank that will be the
mechanism for clearing trade settlements in the new Gold based Yuan or whatever
BRICS currency is created to be a substitute for the US dollar based regime
currently in place for trade settlements. By the sounds of it would be the Bank
of International Settlements, the World Bank, and the IMF rolled into one for
the purpose of creating an alternative to Banking Systems based in the West
that most of the non-Western world considers to be detrimental to their
interests. Without such a mechanism it would not be possible for a non-Western
currency to compete with or replace the US dollar. These radical moves are not
being considered but are being executed at an amazing speed. So barring some
equally radical move by the West such as launching a major war, it appears that
the world is rapidly moving towards an Eastern bloc Financial System instead of
the Western Bloc that has dominated world finances for some 500 years now. When
these plans have been fully executed in the not too distant future, possibly by
the end of this decade, it will mean:
A. A much lowered standard of living
for Westerners, Americans in particular due to loss of purchasing power of the
dollar by as much as 75%. Americans would face at best a Second world living
standard if not outright third world conditions, as seen in parts of Latin
America.
B. A much higher gold price. If there
emerges a true gold based currency or currencies, gold would be re-priced much
much higher than its current price. This would also be true of silver, the poor
man’s gold. Westerners would be well advised to stock up on gold and silver and
other hard assets rather than debt. Be sure to listen to the full interview
with Jim Willie which I will have on YouTube and Blog Talk later this week.
Jim Willie's
website: http://www.goldenjackass.com/
Subscribe to:
Posts (Atom)