The End of the Monetary System As We Know It (TEOMSAWKI) is IMMINENT!

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Information from varying sources all point to an imminent collapse of the US dollar, and with it, society as we know it. There are mainly 2 trains of thought on how this will occur. . The first one I will present is from Alt-Market, and the second one if from the economist who writes the Hat Trick Newsletter, Jim Willie.

The point is , they both see the end of the monetary system as imminent. They differ in how they think it will play out.

Alt-Market states, “Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. 

In the years leading up to the Great Depression, numerous mainstream “experts” and politicians were quick to discount the idea of economic collapse, and most people wer more than ready to believe them. 

John Maynard Keynes in 1927: “We will not have any more crashes in our time.”

H.H. Simmons, president of the New York Stock Exchange, Jan. 12, 1928: “I cannot help but raise a dissenting voice to statements that we are living in a fool’s paradise, and that prosperity in this country must necessarily diminish and recede in the near future.”

In 1988, the financial magazine ‘The Economist’ published an article titled “Get ready for a world currency by 2018,” in which it outlined the framework for a global currency system called the “Phoenix” (a hypothetical title), administered by the International Monetary Fund by the year 2018, which would erase all national economic sovereignty and require governments to borrow from the world central banking authority, rather than print, in order to finance their infrastructure programs. This would mean total control by the IMF over member nations as they beg and plead for more capital under the global currency umbrella.
 

 

the appearance of prosperity means nothing if the fundamentals do not support the optimism. That is to say, a bullish stock market, a high dollar index and a low unemployment percentage mean nothing if such stats are generated by false methods and fiat.  The fundamentals ALWAYS matter.  As we saw during the Great Depression, the markets cannot hide from reality forever.

The plan is to introduce a basket currency system as an alternative to the dollar as world reserve, then slowly but surely phase out all sovereign currencies until the basket becomes a currency itself – the ONLY currency.  Former World Bank Chief Economist Justin Yifu Lin seems to agree with this ideology, arguing that national currencies must be replaced with a supranational currency, and pointing out that no single currency has the strength to stand alone as world reserve:

“I think the dominance of the greenback is the root cause of global financial and economic crises…The solution to this is to replace the national currency with a global currency…”

China in particular has loudly pronounced a need for a global currency system to replace the dollar, and they have suggested that this system be controlled by the IMF:

The world economic crisis shows the “inherent vulnerabilities and systemic risks in the existing international monetary system,” Gov. Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up of a basket of global currencies and controlled by the International Monetary Fund and said it would help “to achieve the objective of safeguarding global economic and financial stability.”

The IMF has been openly discussing the ascension of the SDR to replace the dollar as the world reserve currency since at least 2011.

China is NOT anti-establishment or anti-new world order, nor is Russia. Eastern opposition to the NWO is a lie. Period. In fact, the BRICS have argued only for greater inclusion in the IMF system and have no intention of developing a legitimate alternative to “Western” globalization.”
 

On the other hand, Jim Willie things quite the opposite is true. In excerpts from his latest interview, shown below he says, “The dollar will rise and rise and rise and then finally die. The fact it is rising so high is a sign of it’s imminent death.

The Federal Reserve has no other choice but to keep Zero Interest Rate Politices and to continue QE to inflate away the dollar to pay off the debt. If the Feds raises interest rates it will destroy the big banks, and they won’t do that. 

The economic structure of the US is falling apart. There is no precedent in the history of the US where we are expanding the money supply to this extent. WE are stuck in a minus 4-6% recession every single year. We have a tremendous recession, if not depression, going on right now. 

We have 39% of the workforce not working…The logical conclusion to all of this. The US government is attacking any nation that resists the US dollar for trade. The world is rejecting the dollar for trade settlement, and as they do this, they will not have as much need for the treasuries in their banks. 

How will the US economy be supplied for all their import needs, which is 40-50% of the supply chain? T

This is what’s coming. We are going to see price inflation, huge food shortages, in gasoline and cash at ATM and civil disobedience and social chaos. 

As the dollar is rejected, the US is going to see the dollar not accepted for trade. Like what is going on between China and Russia, and Russia and Iran, India and China..right now, for example. 

As very little global trade is conducted in dollars they will dump the Treasuries, and the Fed will cover those monies. The debt is 1 trillion dollar bigger than the previous year.

We already saw the Russia and Chinese already say they are not going to use the US Dollar. Example: the Gazprom pipeline. They are actually going to dump US Dollars to build it.

The Saudis are going to say that they don’t require dollars for crude. We will take the country’s currency, without them having to convert  it into dollars, for oil  Once they do that, and say non-dollar say is ok, your going to see a massive amount of dumping of treasury bonds. 

They will ramp up QE to cover the foreign dumping. Once the Saudis do that, the other Persian gulf countries will follow suit. So they will dump the US Treasury bonds, and that’s a second wave of giant volume that the Fed will have to soak up. The Fed cannot manage all that.
 
The BRICS will then have a gold trade standard. The BRICS Development Bank is a BRICS Central Bank, which is backed by more gold than the Fed every had. The Metamorphosis ofthe BRICS Bank into the Gold Trade Central Bank will be the end of the American empire. 

The gold standard is coming back. We are in the end game now. Indications are the UD banks and London banks are going to suffer a big contagion failure event.

The vulnerability comes when they run out of gold to continue their games. There is now 100 times paper gold to one ounce of real gold. Naked shorts means they sell gold, but never deliver on it. In Shanghai, they opened up a gold exchange and it’s been trading briskly. 

The Shanghai gold exchange opened up and they are actually settling in gold and silver. Settling honestly, in the metal. They are running out of silver and have very little god.

The rumor is that the Chinese are going to pull the plug on all the different futures contracts they are holding . They are going to call them in and wreck the system, but I don’t think that’s how it’s going to happen. I think instead , which is very clever for the Chinese.

 

 Read the rest of the story and the video here…