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Dr. Jim Willie: We’ve Got “Educated People” That Are Stupid As Bedposts
In the following interview with Elijah Johnson from Finance and Liberty, Dr. Jim Willie pulls no punches as usual when he says, “We’ve got ‘educated people’ here, that are stupid as bedposts.” When he says that, he’s actually referring to his own brother, but of course he’s also referring to the millions of Americans who are “well educated” by academia’s standards, which is to say their indoctrination by academia has taught them to refuse to even look at facts on certain topics.
People who are otherwise very intelligent in every way, have been taught by academia and the media to recoil as if from a hot flame almost by reflex, because if too many people questioned the system, before long those questioning it would realize the system is a stacked deck not in their favor…
During the opening portion of the interview, Dr. Willie discusses what he refers to as peoples’ fundamental ignorance of money. Thanks largely to the same system of academia mentioned above, most Americans don’t have the slightest idea what the differences are between money, legal tender, and the U.S. Dollar, so it stands to reason why they don’t understand the U.S. Dollar’s days are numbered.
Throughout the remainder of the interview, Jim continues to explain recent developments which are causing the hastening of the inevitable collapse, and what the collapse will mean for people here in America. After the interview, is a great article covering what a U.S. Dollar collapse would mean, what could trigger, and what would happen afterward, so please be sure to check that out as well.
DON’T MISS: Dr. Jim Willie: “I Fear the U.S. Government Murder Squad or Being Poisoned by my Government”
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When Will the U.S. Dollar Collapse?
A dollar collapse is when the value of the U.S. dollar plummets. Anyone who holds dollar-denominated assets will sell them at any cost. The biggest holders are foreign governments who own U.S. Treasuries. They also include traders in exchange rate futures who trade the dollar versus other currencies. Last but not least are individual investors. When the crash occurs, they will demand assets denominated in anything other than dollars. The collapse of the dollar means that everyone is trying to sell their dollar-denominated assets, and no one wants to buy them. They will drive the value of the dollar down to near zero. It makes hyperinflation look like a day in the park.
Under What Scenario Will It Happen?
Three conditions must be in place before the dollar could collapse. First, there must be an underlying weakness. That situation exists. The U.S. currency is fundamentally weak despite its 25% increase since 2014. The dollar declined 54.7% against the euro between 2002 and 2012.
Why? The U.S. debt nearly tripled during that time period, from $5.9 trillion to $15 trillion. The debt is even worse now, at $19 trillion. The debt-to-GDP ratio is now more than 100%. That increases the chance the United States will let the dollar’s value slide. That would allow it to repay its debt with cheaper money.
Second, there must be a viable currency alternative for everyone to stampede into. The dollar’s strength is based on its use as the world’s reserve currency. That happened in 1973 when President Nixon abandoned the gold standard. As a global currency, the dollar is used for 43% of all cross-border transactions.That means central banks must hold the dollar in their reserves to pay for these transactions. As a result, 61% of these foreign currency reserves are in dollars. Here’s the 3 Ways to Measure the Value the U.S. Dollar.
If the dollar lost its status, what is the next most popular currency? The euro. But it comprises less than 30% of central bank reserves. The eurozone debt crisis has only weakened the euro as a viable alternative to the dollar as a global currency.
China and others argue that a new currency should be created and used as the global currency. China’s central banker goes one step further. He claims that the yuan should replace the dollar to maintain China’s economic growth. However, replacing the dollar would be a massive undertaking, would require great global resolve, and not happen quickly. China is right to be alarmed at the dollar’s drop in value. That’s because it is the largest foreign holder of U.S. Treasuries, and it just saw its investment deteriorate. For more, see Dollar to Yuan Conversion and History.
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Could Bitcoin replace the dollar as the new world currency? It has many benefits. It’s not controlled by any one country’s central bank. It is created, managed, and spent online. But it can also be used at brick-and-mortar stores that accept it. Its supply is finite. That appeals to those who would rather have a currency that’s backed by something concrete, such as gold. There are big obstacles, however. First, it’s value is highly volatile. That’s because there is no central bank to manage it. Second, it has become the coin of choice for illegal activities that lurk in the deep web. That makes it vulnerable to tampering by unknown forces.
What Event Could Trigger a Collapse?
A dollar collapse would not occur unless the third condition were also met. That’s a huge, triggering event that would destroy confidence in the dollar.
Altogether, foreign countries own more than $5 trillion in U.S. debt. If China, Japan or other major holders started dumping these holdings of Treasury notes on the secondary market, this could cause a panic leading to collapse. China owns more than $1 trillion in U.S. Treasuries. That’s because China pegs its currency, the yuan, to the dollar. This keeps the prices of its exports to the U.S. relatively cheap. Japan owns more than $800 billion in Treasuries, also keeping its currency, the yen, low to stimulate exports to the U.S. Japan is trying to move out of a 15-year deflationary cycle, and the 2011 earthquake and nuclear disaster hasn’t helped.
Would China and Japan ever really do this? Only if they saw their holdings declining in value too fast AND they had another market to sell their products to. The economies of Japan and China are dependent on U.S. consumers. They know that if they sell their dollars, their products will cost more in the U.S., and their economies will suffer. Right now, it’s still in their best interest to hold onto their dollar reserves.
China and Japan are selling more to other Asian countries, who are gradually becoming wealthier. However, the U.S. is still the best market in the world. (See Demand in the U.S. Economy)
When Will the Dollar Collapse?
A dollar collapse will not occur in 2016. In fact, it’s highly unlikely that it will collapse at all. That’s because any of the countries who have the power to make that happen (China, Japan, and other foreign dollar holders) don’t want it to occur. It’s not in their best interest. Why bankrupt your best customer? Instead, the dollar will probably continue to decline gradually, as these countries slowly find other markets. For more, see Dollar Decline or Dollar Collapse?
What Would Happen After a Collapse?
A sudden dollar collapse would create global economic turmoil. Investors would rush to other currencies, such as the euro, or other assets, such as gold and commodities. Demand for Treasuries would plummet, and interest rates would rise. U.S. import prices would skyrocket, causing inflation.
U.S.exports would be dirt cheap, boosting the economy briefly. In the long run, inflation, high-interest rates , and volatility would strangle possible business growth. Unemployment would worsen, sending the U.S. back into recession or even creating a depression.
How to Protect Yourself
Protect yourself from a dollar collapse by first defending yourself from a gradual dollar decline. Keep your assets well-diversified by holding foreign mutual funds, gold and other commodities. A dollar collapse would create global economic turmoil. To respond to this kind of uncertainty, you must be mobile. Keep your assets liquid, so you can shift them as needed. Make sure your job skills are transferable. Update your passport, in case things get so bad for so long that you need to move quickly to another country. For more, see Dollar Collapse: How to Protect Yourself and Survive.
GET YOUR FREE GUIDE TO SURVIVING MARTIAL LAW HERE
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IF YOU READ NOTHING ELSE, THE FOLLOWING POSTS ARE ESSENTIAL:
How Will the U.S. Conduct Trade With Worthless U.S. Dollars and No Gold? (Video)
Why Did Illuminated George Soros Liquidate 37% of His Stock to Buy Gold? (Video)
What Exactly Does Global Economic Collapse Coming May 2016 Mean?
Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
Economic Implosion Will Lead to Stock Market at 5,000 by 2017 Forecaster Says
When Obama Suspends 2016 Election, a Guide to Survive Martial Law (Videos)
FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie: Due to Illuminati Rothschild’s, US War is Needed With Russia
Dr. Willie: Americans Will Be Armed With Pitchforks Looking For Who to Blame
Dr. Jim Willie: Death Sentence for Banks, Businesses, Families, and the US Dollar
Dr. Jim Willie: There Are No Prisoners Taken in The Global Money War
Dr. Jim Willie: Deutsche Bank Could Very Well Collapse Entire Banking System
Dr. Jim Willie: 7 Signs U.S. Economy Collapses; Gold Will Soon Back US Dollar!
Dr. Jim Willie: “Violent Gold and Silver Breakout” Coming to Economic Markets!
Dr. Jim Willie: Western Economic Markets Collapsing; Eurasian Markets Rise
Dr. Jim Willie: The Dollar is Dead! Even Mainstream Media Realizes it!
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
Dr. Jim Willie: Economic Collapse is On Our Doorstep
Jim Willie: “The Quickening” is Approaching Global Economic Markets
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: 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 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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A look at International Leaders that were given RHODES SCHOLARSHIPS is ample proof of that……
Their “Faith”(GULLIBILITY) should exclude them from making executive decisions……
They believe in Talkiing Donkeys, Trips in Whale bellies, walking on water, & a bloke suddenly “glowing”……
Yet are the first to send in the troops and break >”Thou shall NOT Kill” ++++++=+++++++=+++++=+++++
We should stop calling them educated and start calling them indoctrinated.
Bitcoin is unsuitable because it relies for transaction confirmation on updating the blockchain in all Bitcoin wallets, the majority of which are on private computers. It takes 15 minutes for transactions to complete. Bitcoin could be best liked to Bonds rather than currency. There is also not enough around for the insane volumes of trading, a Bitcoin at the moment is around $6-700, expect exponential inflation during a Dollar crisis anyway, it would be far easier to buy up Dogecoin and rebrand as Ecents since this meme coin has a huge following but because of the meme theme few traders.
Jim Willie always sounds like he doing his interviews on the crapper.
Mid push and holding his breath.