JIM WILLIE: DOLLAR DEATH-Global Trade Using Dollars DOWN 50%! [transcript]

In the video interview titled, “No Prisoners in the Global Money War,” Willie says, “I think we have acceleration on the systemic breakdown globally. 

• OPEC decided not to cut production
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• China and India are working on big barter deals
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• Deutsche Bank has stopped physical gold trading
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• There was a $250 rise on the gold market on Wednesday . I think it was a test, before COMEX is killed
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• India removed their restrictions on gold imports
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• Shale and oil sector in the US is about to collapse from high yield junk bonds
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• Turkey has worked out a deal with Russia where they are not going to use the dollar. Turkey has some huge energy projects
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• Italy and France are on their deathbed. Unemployment is going through the roof. Debt and GDP ratio are out of sight
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• Swiss referendum put at risk the entire Swiss reserves and banking system
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• US bond yields are collapsing
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• Ukraine gold is all gone
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• The gold forward rate has turned negative-gold is in backwardation
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• Auto and student loans are now the new subprimes. They’re all going to go bust
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• World Trade Using Dollars Has Decreased 50% in 10 Years
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• The percentage of global trade using US dollars about 10 years ago used to be around 70%

The dollar percentage of global trade is now around 37%. We are still doing dollar trade.  But it is decreasing. There are deals between Russian and South America to supply food. Brazil and Argentina just struck a deal not to use any dollars in trade. In another year, there may not be any bilateral between  South American nations that’s in the dollar.  [10:34]