Russia May Want Gold Not Stinking Dollars - Dr. Jim Willie & Greg Hunter Video

By Greg Hunter’s USAWatchdog.com

Financial newsletter writer, Dr. Jim Willie, thinks the Ukraine crisis is more of a financial war than a shooting war.  Dr. Willie says, “A couple of months ago, I said, ‘Give it time and the whole nation would sink,’ and the Putin strategy would be to create a standoff militarily, maybe some skirmishes, but let the nation sink.  It’s been raided of its gold and raided of its official government funds; and, now, the energy companies are in there doing fracking.  I think what is happening now is we are starting to see the breakdown.”

Dr. Willie, who holds a PhD in statistics, says there is a new $17 billion IMF loan going to the Ukraine over the next two years.  Reportedly, Ukraine is buying physical gold with some of that money.  It also owes Russia money.   Dr. Willie contends, “If there is an IMF loan, a big portion must go to Russia in return for this loan, this apart from Gazprom loans.  You’ve got Kremlin loans and you got Gazprom loans.  Maybe Putin said, look, you idiots want us to avoid the dollar.   You want to sanction us?  OK, fine, we’re in line for some of that IMF money, and we don’t want your stinking dollars.  We’ll take it in gold.”   Dr. Willie goes on to say, “This is just chaos.  What is Kiev doing buying 40 tons of gold after the U.S. just stole their 33 tons?” Dr. Willie thinks, “Once you have a standoff militarily, you move the whole thing into banking, economics and trade.  That’s where I think Putin wants to take this war.  The United States has already done their sanctions, and they are all stupid.  If Russia complies, that will make all those energy payments to be made in rubles and not even euros.” 

On the most recent U.S. GDP numbers that some big banks say show negative growth, Dr. Willie says it’s a much bigger problem than just the U.S.  Dr Willie explains, “The whole global financial structure is a joke.  It’s toxic and broken. . . . Fed Head Janet Yellen is lying and doing backdoor bond buying.”  Meaning, there is no cut back or so-called ‘taper’ in Fed bond buying.  Dr. Willie goes on to say, “There is at least $100 billion a month . . . and notice when they talk about the details of bond buying, they talk about Treasuries and mortgage bonds.  They never talk about derivatives. The derivatives are more than the mortgage bonds plus the Treasury bonds combined.  That’s where you get over the $100 billion.  The only thing QE (Fed money printing) stimulates is the stock market and the bonds.  It doesn’t stimulate the economy.  It does the opposite.  What you get is the entire cost structure goes up. . . . It’s destroying the economy.  It’s destroying the ability of businesses to make money.” 

Dr. Willie says big news on the progress of convertibility of the Chinese yuan is being ignored by the mainstream media.  Dr. Willie says, “Fully convertible capital account for the Shanghai Free Trade Zone is an enormous story, and it is not in the U.S. news.  Why, because it signals that the yuan is about to become an extreme competitor to the dollar in trade settlement and, therefore, rival it as a global reserve currency.   By that, I mean used in banks as a reserve item. . . . They are making steps; they are more like big strides toward making the yuan a fully convertible internationalized currency.  You’ve got lots of countries with yuan swap facilities.  You have Brazil, Australia, New Zealand, Japan, Germany and UK.  These are big countries.  These are Western countries, and they all have yuan swap facilities, which mean they are not going to conduct trade settlement in dollars.   So, it’s already in our Western camp.  With all these developments toward a gold backed currency, you are going to see quantum leaps in the gold price.  You are going to see the big move in gold when China is no longer going to be able to get London and New York gold.” 

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.) 

After the Interview: 
Dr. Jim Willie has just celebrated the 10 year anniversary of The Hat Trick Letter.  A subscription is $110 for 6 months.  If you would like to subscribe to The Hat Trick Letter, please click here.  There is also free information on the home page of GoldenJackass.com. (Click here.)