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Dr. Willie: Economic System is Collapsing Right Now; Us Dollar in a “Short Squeeze”
In the following interview, Dr. Jim Willie joins Dan Schultz where he begins by saying, the “quickening has hit a new gear and has just turned crazy…” Of course, Dr. Willie is referring to the demise of the U.S. Dollar.
The first question Dan Schultz asks is, “We know it’s a fake phony economy, but why can’t they do this forever? Since it’s not a “real economy” or “real capitalism,” why can’t they just pull something else out of the hat?”
To that, Dr. Willie Answers, “The whole system is breaking down. Soon there won’t be any patches that keep the system going.” If the money we were printing was only supporting our debt based system, where we mistakenly call debt wealth, perhaps they could just keep printing money.
The problem is, when it comes to the rest of the world, we’re undermining the rest of the world’s economies, and they’re sick of it. Putin recently referred to the U.S. and the parasite, or the leach of the world.
The reason this practice of continuously printing money cannot continue, is because it’s creating systemic breakdowns and market seizures. It takes a really big effort from the government to hide that treasury markets are failing, and that there’s a margin call on the Petrodollar. That’s why the U.S. Dollar is now a matter of national security being monitored not by the treasury, but by a top secret Department of Defense Fund known as the Exchange Stabilization Fund.
Right now, all derivative contracts with oil are tied to the U.S. Dollar, which has a lot to do with why the U.S. is seeking to eliminate the Saudi Regime, a regime that has been plotting against the U.S. for quite some time. Since they also happen to hold about $5 Trillion of our debt, by eliminating the Saudi’s, or by putting them in check, the U.S. seeks to expunge that $5 Trillion in debt.
As Dr. Willie explains, that will also cause anyone holding oil derivatives to seek to get our them, causing a mass run on the Dollar, and creating a Margin Call on the Dollar essentially. Americans think times are tough NOW… wow… wait until the Dollar is no longer the reserve. It will make Michael Snyder’s article about how 47% Americans cannot even come up with $400 for an Emergency Room visit seem like child’s play! Be sure to visit the link below for supplies for when the Dollar Crashes…
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The following posts are excellent tools to really understand what is beginning to happen!
THE FOLLOWING TWO POSTS 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
ALSO DON’T MISS:
Jim Willie and How the Loss of the US Dollar as Reserve Currency Affects You Personally
Jim Willie: Americans Are Destitute Now, Wait Until The US Dollar Collapses
Economic Implosion Will Lead to Stock Market at 5,000 by 2017 Forecaster Says (Video)
If you had to make a sudden visit to the emergency room, would you have enough money to pay for it without selling something or borrowing the funds from somewhere? Most Americans may not realize this, but this is something that the Federal Reserve has actually been tracking for several years now. And according to the Fed, an astounding 47 percent of all Americans could not come up with $400 to pay for an emergency room visit without borrowing it or selling something. Various surveys that I have talked about in the past have found that more than 60 percent of all Americans are living to paycheck to paycheck, but I didn’t realize that things were quite this bad for about half the country. If you can’t even come up with $400 for an unexpected emergency room visit, then you are just surviving from month to month by the skin of your teeth. Unfortunately, about half of us are currently in that situation.
Earlier today someone pointed me toward an excellent article in The Atlantic that discussed this, and I have to admit that The Atlantic is one of the last remaining bastions of old school excellence in journalism that you will find in the mainstream media. Of course I don’t see eye to eye with them on a lot of things philosophically, but there are some really hard working journalists over there.
The article where I found the 47 percent figure comes from The Atlantic, and it is entitled “The Secret Shame of Middle-Class Americans“. It was authored by Neal Gabler, and he says that he can identify with the 47 percent of Americans that don’t have $400 for an unexpected emergency room visit because he is one of them…
I know what it is like to have to juggle creditors to make it through a week. I know what it is like to have to swallow my pride and constantly dun people to pay me so that I can pay others. I know what it is like to have liens slapped on me and to have my bank account levied by creditors. I know what it is like to be down to my last $5—literally—while I wait for a paycheck to arrive, and I know what it is like to subsist for days on a diet of eggs. I know what it is like to dread going to the mailbox, because there will always be new bills to pay but seldom a check with which to pay them. I know what it is like to have to tell my daughter that I didn’t know if I would be able to pay for her wedding; it all depended on whether something good happened. And I know what it is like to have to borrow money from my adult daughters because my wife and I ran out of heating oil.
To me, this is yet more evidence that the middle class in America is dying.
Last year, it was reported that middle class Americans make up a minority of the population for the very first time in our history.
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But back in 1971, 61 percent of all Americans lived in middle class households.
So what happened?
Well, the big corporations started shipping millions of good paying manufacturing jobs overseas. Millions of other good paying jobs were replaced by technology, and the competition for the good jobs that remained became extremely intense.
During the good times, the U.S. economy still created new jobs, but most of those jobs were low paying service jobs.
At this point, a majority of American workers have jobs that would be considered low paying. In fact, 51 percent of all American workers make less than $30,000 a year according to the Social Security Administration.
And once you account for inflation, the truth is that our incomes have been going down for years. According to a study that was released by Pew Charitable Trusts, median household income in the United States decreased by 13 percent between 2004 and 2014.
That isn’t “progress” any way that you slice it.
If you go all the way back to 1970, the middle class took home approximately 62 percent of all income in the United States.
Today, that number has fallen to just 43 percent.
So the fact that 47 percent of Americans can’t even pay for an unexpected emergency room visit is not exactly a surprise. To be honest, a whole host of other surveys have come up with similar numbers. Here is more from Neal Gabler…
A 2014 Bankrate survey, echoing the Fed’s data, found that only 38 percent of Americans would cover a $1,000 emergency-room visit or $500 car repair with money they’d saved. Two reports published last year by the Pew Charitable Trusts found, respectively, that 55 percent of households didn’t have enough liquid savings to replace a month’s worth of lost income, and that of the 56 percent of people who said they’d worried about their finances in the previous year, 71 percent were concerned about having enough money to cover everyday expenses.
What all of these numbers tell us is that the middle class is disappearing. I tend to compare it to a game of really bizarre musical chairs. With each passing month more chairs are being pulled out of the circle, and those members of the middle class that haven’t fallen into poverty yet are just hoping that a chair will still be there for them when the music stops.
Even during the “Obama recovery”, we have seen poverty in America absolutely explode. In fact, some brand new numbers just came out that are quite startling. The following comes from another author for The Atlantic named Gillian B. White…
Recently, the Brookings Institution published a report looking at the same idea but giving it a different name. The paper, builds on research from the British economist William Beveridge, who in 1942 proposed five types of poverty: squalor, ignorance, want, idleness, and disease. In modern terms, these could be defined as poverty related to housing, education, income, employment, and healthcare, respectively. Analyzing the 2014 American Community Survey, the paper’s co-authors, Richard Reeves, Edward Rodrigue, and Elizabeth Kneebone, found that half of Americans experience at least one of these types of poverty, and around 25 percent suffer from at least two.
To underscore this point, let me just run five quick facts about the growth of poverty in this country by you…
–The number of Americans that are living in concentrated areas of high poverty has doubled since the year 2000.
–In 2007, about one out of every eight children in America was on food stamps. Today, that number is one out of every five.
–46 million Americans use food banks each year, and lines start forming at some U.S. food banks as early as 6:30 in the morning because people want to get something before the food supplies run out.
–The number of homeless children in the U.S. has increased by 60 percent over the past six years.
–According to Poverty USA, 1.6 million American children slept in a homeless shelter or some other form of emergency housing last year.
That last number really gets me every time.
How can “the wealthiest and most powerful nation on the planet” have more than a million homeless children?
This is one of the reasons why I hammer on our ongoing economic collapse over and over and over. It is affecting real families with real children that have real hopes and real dreams.
This is not the way our country is supposed to work.
It is supposed to be “the land of opportunity”.
It is supposed to be a place where anyone can live “the American Dream”.
But instead it has become an economic wasteland where the largest and most prosperous middle class in the history of the world is being systematically eviscerated.
So no, the U.S. economy is not doing “just fine” – anyone that tries to tell you that lie is simply peddling fiction.
GET A FREE DETAILED GUIDE TO SURVIVING MARTIAL LAW HERE
STOP BY WWW.THELASTGREATSTAND.COM FOR SURVIVAL GEAR
FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie: The Dollar is Dead! Even Mainstream Media Realizes it!
Dr. Jim Willie: The Global “Banksters” Plan For the Economic Markets (Video)
Dr. Jim Willie: Expect More US Voter Fraud as US Debt Problem Looms
Jim Willie: Chinese Replace US Swift Banking System, Hastening US Dollar Collapse
Dr. Jim Willie – Secret Meeting at the G20 to Take Down the US Dollar
Dr. Jim Willie: Financial Deals Happening Behind Closed Doors; US Not Invited
Jim Willie: Putin, the Gulf Emirates, Iran, and Saudi Arabia Plan Death of US Dollar
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 Like Dominos
Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse
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, the Crumbling Global Economy, and the Dollar Crisis
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: “Trump’s Very Massive Recession May Have Already Begun”
Peter Schiff: Americans Fear Future With ‘Dead-End Economy, Crap Jobs, and Awful Wages’
Peter Schiff: “Can Donald Trump Really Make America Great Again?”
Peter Schiff: “China is Bleeding It’s Secret Account. Time to Panic!”
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: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
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: 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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Try and swim with gold in your pockets.
only an idiot would try and do that..did not work out for you when you tried? oh..stupid me..with only 23 dollars in your bank account you have never held gold in your hand unless you stole it…
Wants ‘n’ Needs ~ News ‘and’ Nest
I’m so tired of this guy and his wrong predictions. He’s been saying the dollar is going to crash and the market is going to crash for years now. And all they have done is make new highs. You follow Jim, you’ll lose all your money, guaranteed.
Odds are you have already lost it listening to Jim and Schiff.
The none stop perma bears. What a bunch of bullsh-t.
I bet anybody that talks sh.t about this comment bought gold at $1700 and silver at $45 listening to the great advice of this freaking moron.
I wonder if he understands that the Saudi Royalty is just the usual group of the NY Jewster mob. Really. Born and educated over there. So, how would it make sense for the banksters, who are the NYJEWster mobs, to wanna destroy the Saudi Jews?
Remember that a true Arab is a nomadic tribesman, wandering out in the desert, living under a tent. He would not getting fat and greedy and ugly and nasty in his ornate palaces.
Who is Jim trying to kid? The Royal Family and the Rothschild, with the Jesuits own most of the world’s gold and silver. They have their plans designed for these prices for a long time and thee are very rich and powerful and in full control of everything. These know-it-all blabber mouths are coming up with theories out of their arses and prove to all of us they don’t have a handle of what is really going on. Perhaps, they are shilling and trying to dump the gold onto the suckers who fall for these fear mongers.
Love this guy!!!!!!!
So why would someone sell me their gold and silver and take my paper fiat dollars?
You’re right about some things. Gold and commodities will go up for the next 15 years or so after this bottoming transition. The reason why commodities will go up has nothing to do with human beings. It has to do with a cycle. You know, you ever heard of Fibanacci, Gann, Elliot wave and the BIG K Wave and bigger and better waves and cycles like hmmm…. the Big Bang. Expansion, contraction.
So, instead of bitching and moaning like Jim and Schiff and all the people that did buy most commodities near the 2011 highs and don’t forget Jim Sinclair calling every bottom as the big turnaround. Since 2011, between those 3, that’s at least 15 for sure bottoms. And the stock market.. wow.. that really “crashed” over and over like they’ve been saying.
Yes, every good analyst is wrong sometimes. But when they refuse to admit that they’re wrong for 4 years, you know.
THe point is if you shorted the market, you would have made a lot of money. And then, you could buy now or in a little while, like next low, and make a lot of money. And hold a lot of physical gold and silver. So don’t listen to these wankers. They’ll continually make money by spreading fear so people give them money for their bad investment calls. I’m so f..king tired of it.
Anyway, cheers. And good luck.
Published on Apr 20, 2016
“Broadcast live out of Crescent City, CA on April 25th at KFUG 101.1FM
and streaming at http://www.kfugradio.org”
Does any of the forecasters have anything to comment about the
replacing of old Hickory with a African American woman on the twenty
dollar federal reserve note ? Does this act contain a hidden message ?
you dont need money to go to the emergency room.