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DR. JIM WILLIE- Viewers' Questions Answered on June 5 [transcript]

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In an interview with Finance and Liberty and Dr. Jim Willie on June 5, 2016, viewers asked the following questions and Dr. Willie gave his answers.

Viewers Questions:

0:33 – What geopolitical triggering event might cause both the Russians and Chinese to announce that their currencies are now to be backed by gold (and thus causing the U.S. Dollar to fall)?

China

The two events are the [Chinese] shipping companies are just going to refuse the dollar. This is a very big event and I think that it might have already begun. I think a lot of ships around Long Beach, California because they are on instructions that they do not want payment in dollars anymore.

The press and banker cabal do not want to say the truth. Which is the shippers from Asia don’t want the stinking dollar anymore. These nations which send a ship with over 2,000 containers, are loaded, and the companies want payment…they don’t want the dollar anymore.

I think the process is making tremendous headway recently. A number of nations are sorting out their gold hoards to back their currency. What they are waiting for is some kind of word that they’re not going to get bombed by the U.S. military.

4:58 – How might the Exchange Stabilization Funds of the nations forming the SDR basket of currencies behave, as China incrementally contributes to the revaluation of gold? In what ways, if any, does being part of the SDR, affect China’s mutable policies?

First of all, I don’t believe the IMF has an Exhange Stabilization Fund. That’s a US government Dept of Treasury “market-rigging” trillioin dollar fund. When China is included in the IMF SDR basket, they join the dollar, Euro, yen ad the British pound. First of all, to be included in the IMF ‘basket of currency’ means

…the money is apportioned equally from the sources for countries that need help. The banking systems of the world, say South Korea, has a savings account. It operates as bank reserve capital. They have ratios that conform with the IMF. After China joins the IMF basket. Banking systems around the world will change and add more renminbi, less so from the US. It will mean much more internationalization of the Chinese currency and will set the stage for them to come out with a gold currency.

9:37 – How will we know that the two rounds of “Scheisse” Dollar devaluations you speak of will have happened, and that it’s then safe to liquidate some precious metals into the new currency for use in other investments?

You’ll know when most Americans are “carrying pitchforks”. There will be all kinds of questions about supply chain distruptions and who’s going to fix it. When the time comes, it is going to be a few years, so use those few years to study. We don’t even know which currencies are being announced yet.

Look for the new gold currencies that are coming. I are told that they are coming from Russia, China and Germany and maybe Switzerland. Mexico might issue a silver currency. Lots and lots of nations will come forward and create a critical mass..that the US and it’s allies will be in a club still devoted to printing money…and will be isolated.

17:26 – Will the “reset” wipe out all debt?

No, there’s a great precedent. It was during the Clinton administration, around 1993, the Mexican currency problem – the Tequila crisis. It was about a 20% devaluation of the Mexican peso. What did they do to the consumer loans that was saddled upon the Mexican public.

 

What they did was increased all the loan balances by 20%.

 

The banks run the governments. The elites own the banks. Right now the US government policies are written by the banks. They won’t allow a new dollar to be launched that will put them a trillion in the hole? No, they will raise the debt level, and will be increased, in order to conform to their previous value prior to the devaluation.

21:15 – Do you think disabled vets will lose their pension, alongside social security, IRA’s, public and private pensions – and the wipeout of bank accounts?

I don’t think they will lose all their pensions, but be forced into Treasury bonds. I think we will see Social Security benefits be cut 2 or 3 fold. You will basically see the disabled vets and the older people (retirees) get screwed. The pensions will shrink, they will see forced movement into Treasury bonds.

28:22 – Love to hear some discussion on the “debtors” of all this global debt. Why no talk of uniting worldwide in a mass default and stick it to the central banks? Keep hearing talk of this debt crippling countries but is it not extortion? The so-called debt seems to get a whole lot more respect than it should, all-round.

This is a real naïve question, as the bankers are in control.

29:44 – You have talked about the “Shiesse” Dollar for a while now. Please explain when/how it will come to be? What are the sign posts to watch for before this occurs.

An important signpost has already been seen: the ships on the West coast that do not unload. These same extortionists control the press – and we are told it is because of strikes. The shipments are coming from Asia and they are refusing to accept the dollar as payment, so they are not unloading their cargo.

I think it will be an issue of dock strikes and the Asian suppliers saying they are not going to continue and pay a waiting game until you launch a new dollar, because the current one is corrupt. The whole issue is over shipping, imports and satisfaction for the supply chain.

31:39 – Which products are going to go up in price the most after a few rounds of 30 percent U.S. Dollar devaluations? In other words, which items are most reliant on their importation that we should stock up on them before the disruptions?

It’s not going to be food items that the US produces. There’s a lot of importing from Mexico from Chile. We import a great deal of housewares from China, towels from Pakistan, etc. It’s really not clear, because I don’t know what’s going to happen with emerging market nations. It includes all the Japanese and German cars, which will have higher prices. I think Chrysler among the US car makers, imports a lot of parts for their cars from Japan.

36:49 – I can’t afford gold. Will silver offer me the same protection?

To read the rest of the story, go to GramsGold.com



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