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Dr. Jim Willie: With Collapse of US Dollar, Western Banks, Bonds, and Other Currencies Go Too

Tuesday, March 15, 2016 0:47
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In the following video, Dr. Jim Willie joins USA Watchdog for a discussion on an imminent systemic breakdown of global financial systems, and the coming global currency resent. Not surprisingly, the conversation begins centered around the inevitable loss of the US Dollar as the World Reserve Currency. As I’ve been explaining for two years now, losing the Reserve Status is a process. It’s not like the world takes a vote one day to replace the Dollar, and as long as we can stave off that vote, we’ll be ok. 

The reality is that the US Dollar has been getting phased out as the World Reserve for years, and I’ve covered precisely what that means for us as individuals in the past. Few Americans alive today have any comprehension of what that is going to do to our county, because for the entirety of the lives of almost all Americans, the US Dollar has always been the Global Reserve. Peter Schiff, a brilliant economist and one of the only people to accurately predict the 2008 crash to the tee in his 2006 book Crashproof has accurately said, The US Dollar Collapse Will Be the Single Biggest Event In All of Human History. That’s when it’s every man for himself, and the U.S. looks like a Mad Max movie! 

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Not only will the collapse of the US Dollar CRUSH America, our allies like Saudi Arabia who have been our partners in the PetroDollar are also going to get crushed. Dr Willie explains that right now, Saudi Arabia is feeling the most alone they’ve felt in close to 70 years, because they have EVERY reason to believe the U.S. won’t be able to protect them for much longer before we have massive problems of our own. As U.S. power quickly fades, and as other countries step in to fill the void, Dr. Willie predicts Saudi Arabia is going to to run up against a Russian wall, and fall back into the hands of the Chinese, unless they do something to protect themselves. That is why we’re hearing the Saudi’s have allegedly already acquired, or are in the process of acquiring nuclear weapons to protect themselves. 

With regard to the global currency reset, Dr. Willie offers as much information as he’s been able gather, but admits he doesn’t have the full picture yet. He says as a result of the US Dollar Collapsing, Western Banks, Bonds, and Currencies are all on the verge of collapse right now. Once one bank goes, ten will follow. Jim’s pretty firm when he says that Deutsche Bank Will Fail First, Then Barclays, Followed by Citigroup, and More Will Fall Like Dominos After That. He says that right now, in preparation of that day, counties are already making deals not to attack one another when collapses begin. 

In classic Dr. Jim Willie style, this interview goes to some DARK places… so I’ll leave the rest for you to hear yourself… 

Since it won’t just be Western Banks that collapse, I included an article below by Michael Snyder discussing how Italy’s banking system is on the verge of taking down all of the Eastern European financial system right now… so buckle up folks!

DO NOT MISS THE FOLLOWING TWO POSTS THAT FEATURE BOTH PETER SCHIFF AND DR. JIM WILLIE: 

Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming

Peter Schiff and Dr. Jim Willie Warn Investors About Timing Fed Market Rally

Dr. Jim Willie Collapse is Coming

FOR MORE NEWS BY VOICE OF REASON CLICK HERE!

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Michael Snyder writes:

The Italian banking system is a “leaning tower” that truly could completely collapse at literally any moment.  And as Italy’s banks begin to go down like dominoes, it is going to set off financial panic all over Europe unlike anything we have ever seen before.  I wrote about the troubles in Italy back in January, but since that time the crisis has escalated.  At this point, Italian banking stocks have declined a whopping 28 percent since the beginning of 2016, and when you look at some of the biggest Italian banks the numbers become even more frightening.  On Monday, shares of Monte dei Paschi were down 4.7 percent, and they have now plummeted 56 percent since the start of the year.  Shares of Carige were down 8 percent, and they have now plunged a total of 58 percent since the start of the year.  This is what a financial crisis looks like, and just like we are seeing in South America, the problems in Italy appear to be significantly accelerating.

So what makes Italy so important?

Well, we all saw how difficult it was for the rest of Europe to come up with a plan to rescue Greece.  But Greece is relatively small – they only have the 44th largest economy in the world.

The Italian economy is far larger.  Italy has the 8th largest economy in the world, and their government debt to GDP ratio is currently sitting at about 132 percent.

There is no way that Europe has the resources or the ability to handle a full meltdown of the Italian financial system.  Unfortunately, that is precisely what is happening.  Italian banks are absolutely drowning in non-performing loans, and as Jeffrey Moore has noted, this potentially represents “the greatest threat to the world’s already burdened financial system”…

Shares of Italy’s largest financial institutions have plummeted in the opening months of 2016 as piles of bad debt on their balance sheets become too high to ignore.  Amid all of the risks facing EU members in 2016, the risk of contagion from Italy’s troubled banks poses the greatest threat to the world’s already burdened financial system.

At the core of the issue is the concerning level of Non-Performing Loans (NPL’s) on banks’ books, with estimates ranging from 17% to 21% of total lending.  This amounts to approximately €200 billion of NPL’s, or 12% of Italy’s GDP.  Moreover, in some cases, bad loans make up an alarming 30% of individual banks’ balance sheets.

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Things have already gotten so bad that the European Central Bank is now monitoring liquidity levels at Monte dei Paschi and Carige on a daily basis.  The following comes from Reuters

The European Central Bank is checking liquidity levels at a number of Italian banks, including Banca Carige and Monte dei Paschi di Siena , on a daily basis, two sources close to the matter said on Monday.

Italian banking shares have fallen sharply since the start of the year amid market concerns about some 360 billion euros of bad loans on their books and weak capital levels.

The ECB has been putting pressure on several Italian banks to improve their capital position. The regulator can decide to monitor liquidity levels at any bank it supervises on a weekly or daily basis if it has any concern about deposits or funding.

A run on the big Italian banks has already begun.  Italians have already been quietly pulling billions of euros out of the banking system, and if these banks continue to crumble this “stealth run” could quickly become a stampede.

And of course panic in Italy would quickly spread to other financially troubled members of the eurozone such as Spain, Portugal, Greece and France.  Here is some additional analysis from Jeffrey Moore

A deteriorating financial crisis in Italy could risk repercussions across the EU exponentially greater than those spurred by Greece.  The ripple effects of market turmoil and the potential for dangerous precedents being set by EU authorities in panicked response to that turmoil, could ignite yet more latent financial vulnerabilities in fragile EU members such as Spain and Portugal.

Unfortunately, most Americans are completely blinded to what is going on in the rest of the world because stocks in the U.S. have had a really good run for the past couple of weeks.  Headlines are declaring that the risk of a new recession “has passed” and that the crisis “is over”.  Meanwhile, South America is plunging into a full-blown depression, the Italian banking system is melting down, global manufacturing numbers are the worst that we have seen since the last recession, and global trade is absolutely imploding.=

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Other than that, things are pretty good.

Seriously, it is absolutely critical that we don’t allow ourselves to be fooled by every little wave of momentum in the stock market.

It is a fact that sales and profits for U.S. corporations are declining.  This is a trend that began all the way back in mid-2014 and that has accelerated during the early stages of 2016.  The following comes from Wolf Richter

Total US business sales – not just sales by S&P 500 companies but also sales by small caps and all other businesses, even those that are not publicly traded – peaked in July 2014 at $1.365 trillion, according to the Census Bureau. By December 2015, total business sales were down 4.6% from that peak. A bad 18 months for sales! They’re back where they’d first been in January 2013!

Sales by S&P 500 companies dropped 3.8% in 2015, according to FactSet, the worst year since the Financial Crisis.

I know that a lot of people have been eagerly anticipating a complete and total global economic collapse for a long time, and many of them just want to “get it over with”.

Well, the truth is that nobody should want to see what is coming.  Personally, I rejoice for every extra day, week or month we are given.  Every extra day is another day to prepare, and every extra day is another day to enjoy the extremely comfortable standard of living that our debt-fueled prosperity has produced for us.

Most Americans have absolutely no idea how spoiled we really are.  Even just fifty years ago, life was so much harder in this country.  If we had to go back and live the way that Americans did 100 or 150 years ago, there are very few of us that would be able to successfully do that.

So enjoy the remaining days of debt-fueled prosperity while you still can, because great change is coming, and it is going to be extremely bitter for most of the population.

PROTECT YOUR FAMILY BEFORE THE CRASH!

STOCK UP ON FOOD SUPPLIES WHILE THERE IS STILL TIME!

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COMM-DollarCartoon07242009-2

FOR MORE GREAT MATERIAL FROM JIM WILLIE:

Dr. Jim Willie: US Dollar is Being Surrounded By All Sides; It’s Tragically Comical

Dr. Jim Willie: We’re in the Bottom of the 9th; The US Dollar is Dying (2/28)

Dr. Jim Willie: Economic Collapse is On Our Doorstep

Jim Willie: “The Quickening” is Approaching Global Economic Markets

Jim Willie: When Deutsche Bank Fails, Barclays, Citigroup, and More Will Fall 

Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse

Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike

Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government

Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions

Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives

Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States

Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions

Jim Willie, the Crumbling Global Economy, and the Dollar Crisis

Jim Willie: What Do the Oil Black Market, NATO, and ISIS Have in Common?

Jim Willie; One on One -Taking Questions On the Most Pressing Matters of the Day

Jim Willie: The Fed, Yellen, US Dollar, and Negative Interest Are a Joke!

Jim Willie Explains U.S. Nuclear Threats to China & Russia Over Challenging the Dollar 

269_cartoon_110_dollar_bill_small_over-2

FOR MORE GREAT MATERIAL FROM PETER SCHIFF:

Peter Schiff: Newest Recession Hiding in Plain View; American Dream Is Dead

Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History

Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy

Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People

Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence

Peter Schiff: Here Comes the Great, Great, Great, Great Recession!

Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”

CNBC Actually Admits Peter Schiff Was Right… Again (Video)

Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now

Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”

Peter Schiff: Take a Good Look at the “New” American Dream!

Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead

Peter Schiff: Warning! Economic Storm Clouds Ready to Rain

Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options

 

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Total 4 comments
  • Of course the collapse is deliberate. The oligarchs wish to create chaos so they can implement new tyrannical controls over the world and eliminate 90+% of the human population. “Out of chaos, comes order”. The oligarchs will lose and Earth will begin a new era. Things will be very rocky for all of us, in the transition. Love cannot be defeated and Earth is loved beyond your wildest imaginings. Be at peace.

  • Banks have kicked the can a long time but collapse seems imminent from financial analysis AND prophecies also point to it happening spring 2016. The end of dollar hegemony, collapse, chaos, desperation, dictatorship could happen very soon. No elections for 2016.
      End Times and 2019
      Antichrist 2016-2019: Mystery Babylon, Barack Obama & the Islamic Caliphate
      The Two Witnesses of Revelation: Will Elijah and Moses Return in 2016?

  • It’s America the murderous Saudis should fear because they’ll try to steal ALL the oil before the dollar takes a dirt nap. Both regimes are gangster and there’s no honor between murdering thieves.

  • The Clucker

    Bush family in 1933 was found guilty of an attempted Coup of the US and White House! What a presidental legacy, so you know all roads lead to the Bush family of being criminal inside the US Gov!

    Learn about the criminal Bush family history legacy of manipulating the US money. Prescott Bush was GW’s father, and was found guilty by Congressional Court in 1933, by money laundering the Nazi Germany looted stolen money inside the US. Bush did this at the exact time we were at war with Germany, with boots on the ground! Imagine that, the Bush family money laundering while the US and UK have troops on the ground fighting and dying. So you see, the Bush family has a 4 generation of manipulating and laundering US Gov money. Finally people are waking up but unfortunately, its too late.

    To learn about the Bush families attempted coup of the White House in 1933, read the below link and share it with as many people as you can. The truth needs to be said, and can be proved once you read the entire story. Imagine how did Bushs become President after grandpa Prescott attempted to Coup the White House. See how you are controlled of media by the powers like Bush?

    /politics/2016/03/ted-cruz-lobbyist-wife-5-billion-dollar-2008-goldman-sachs-bailout-2786246.html

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