Monday, May 12, 2014

Jim Willie: BRICS 80 Preparing To Take Down The Dollar


Dr Jim Willie has been talking about the BRICS nations (Brazil, Russia, China, India and South Africa) being joined by other nations to take down the dollar. He says there are now 80 nations in the BRICS alliance who have joined together to end the dollar’s reign as the international reserve currency. China could have taken down the US economy any time it wanted to after it had accumulated more than a trillion dollars in US Treasury bonds. All it had to do was to sell them and buy real assets until the US government collapsed and surrendered.

The Chinese are playing a much more sophisticated game. Their goal is to take down the dollar and the British pound but not to hurt their customers in Africa, Latin America, Australia and elsewhere. He thinks a Northern euro will emerge leaving southern Europe and France far behind. Italy’s future was hurt when they mistakenly decided to send half of their gold to New York. That gold is in Asia along with the bullion from the Netherlands and Germany. Dr Willie agrees with Jim Rickards who says the dollar will be devalued 80%. This will make imported goods 500% more expensive. And it will also enable foreigners to buy food off the shelves of America and Great Britain. Please note that the British pound is being targeted by the BRICS 80 as well.

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