Jim Willie: New BRICS Bank to Head Up New World Currency

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Statistics PhD and author of the Golden Jackass newsletter, Dr. Willie talks about a new bank that has just been formed in July, a BRICS bank named the “New Development Fund.” Here is an Asian story labeling the bank as leading the “new international economic order”. Sounds a lot like “New World Order”, if you ask me. Back to Willie…

“They’re very smart. They didn’t want to call it “The Gold Trade Central Bank”.  And later it’s going to be the processing plant for emerging markets discharging their Treasury Bonds and converting them to gold. And this BRICS bank is going to be the recognized bank for alternative trade settlement .

If  a country doesn’t want to settle with the US, use our bank-we can sell you “gold trade notes” for letters of credit, backed by gold. It does not bode well for the US, where the shortages and the price inflations are going to drive people out of their minds.”
 

Dr. Willie says that severe shortages of everything and high price inflation is what’s in store for the US.As to when, he says timing is too difficult, but it could happen as soon as 6 months, or not for up to a few years.

“That’s what coming. It’s not pretty, but, when you break the gold standard, and you falsify statistics and markets, you have a lot of misallocation, a lot of asset loss; this is how you fall under the third world.

Import prices will go up 40%. You can watch Venezuela. They had a 75% devaluation in 2012 and 2013. They had a 300% sudden import increase suddenly.”

When will the collapse happen?

“We are leading up to a big event. We have breakdowns in numerous structures in the financial system. I think Deutsche bank is the one big bank they can’t control. That bank is different. They are the new sheriff in town. Something big is going on with the higher power that enabled them to drain 5,000 metric tons of gold out of London last year.

Take a look at the time between important events. They are getting shorter in between them.  I don’t know when it’s all going to go bust…”

What Is America is going to look like in a year ?

“The US is losing it’s world reserve currency status. And as the dollar loses the petrodollar standard privilege, you’re going to see some important events happen in the next several months where OPEC is overshadowed and eclipsed. I call it the “natural gas co-op”.

And talk about strange bedfellows-how about Iran, Qatar, Israel, Turkmenistan and Russia? These countries have ZERO in common, economically and politically, except they produce vast amounts of natural gas. You’ve got this new force that’s going to be the powerful entity behind the “pipeline build-out .

The United States can’t even control the Iran-Pakistan pipeline. The Chinese came in and funded that. I think the petrodollar’s going to fade away, Let’s face it: King Abdullah is clinically dead. He didn’t come out of a back surgery from about 3 months ago. All these things are happening and it’s going to lead to the dollar not having it’s privilege anymore.  

When you don’t have the dollar being acceptable in trade, it means the dollar’s going to have to compete. And the US dollar CANNOT compete because it’s got third world finance data behind it. It’s fundamentals look HORRIBLE. “

“Let’s just say the US gets a 30% devaluation of the dollar, you’ve suddenly got a 15% inflation surge. In the future, I don’t know whether it’s 1 or 2 years, but it’s coming – we’re going to have shortages of supplies across the board, including gold and silver.

But the food and gasoline shortages are going to cause riots. I think in a couple of years we’re going to see the price of gold go to $3,000 and the price of silver to $100. Gold trade settlement is going to be the norm. “

 

The Dollar is a Debt-Denominated Coupon

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