Dr. Jim Willie, the U.S. Dollar, and the Global Reserve Status - PART II
Economy | Information | History | Online | Facts | World | Global | Money
LINK TO THIS STORY: https://thelastgreatstand.com/2016/12/24/dr-jim-willie-global-economic-collapse-doesnt-care-about-party-affiliation-video/ LINK TO PART 1 OF THE INTERVIEW: https://thelastgreatstand.com/2016/12/23/u-s-dollars-status-global-reserve-continues-lose-credibility-video/ Sign Up for Dr. Willie’s Hat Trick Letter: — http://www.goldenjackass.com/subscribe.html Dr. Willie’s Website: — http://www.goldenjackass.com/main5.html TO LEARN MORE ABOUT HOW TRADE GENIUS CAN HELP YOUR FAMILY: — WEBSITE: http://www.tradegenius.co — FOR THE TRADE GENIUS’ FREE BOOK: Stocks that Will Survive the Coming Collapse — — https://tradegenius.co/product/stocks-that-will-survive/ GET YOUR GREEN TEA AT http://getthetea.com — Get Prepared, Stock Up On Food Now! - http://foodforliberty.com/lastgreatstand — Keep Your Body Health With This Amazing Tea! - http://www.getthetea.com — Super Strength Tea: https://getthetea.com/shop/super-strength/ —— Listen to my Last Interview With Ronnie (Get the Tea’s Creator) - https://youtu.be/3W0EwYtwDsc GET YOUR TACTICAL GEAR!!! 1. GET THE LIGHT: http://a.3fo.xyz/?a=480424&c=97470&s1=rightwingconspirator 2. GET THE PEN: http://brtrk.com/?a=480424&c=96672&s1=rightwingconspirator 3. GET THE HEADLAMP: http://brtrk.com/?a=480424&c=96671&s1=rightwingconspirator SIGN UP FOR MY FREE GUIDES: — WEEKLY NEWSLETTER: http://bit.ly/28QCd1e — SURVIVAL/EMERGENCY GUIDE: https://thelastgreatstand.com/freemartiallawguide/ — EMERGENCY FAMILY GUIDE: http://bit.ly/28QCd1e ------------------------------------------------------------------------------------ PLEASE DON’T FORGET: ------------------------------------------------------------------------------------ — If you have a story, feel free to email me at contact@thelastgreatstand.com — Be sure to leave your thoughts & comments in the comment section below — Be sure to SUBSCRIBE for updates ——— CLICK THE GEAR (NEXT TO SUBSCRIBE) TO BE NOTIFIED OF NEW VIDEOS — If you like what I’m doing, be sure to give me a THUMBS UPPlease be sure to SHARE the videos with friends on social media SUBSCRIBE TO MY NEWSLETTER: — Be sure to visit my website and sign up for the newsletter at: https://www.thelastgreatstand.com ------------------------------------------------------------------------------------ SUPPORT MY CHANNEL WITH THE LINKS BELOW! ------------------------------------------------------------------------------------ — MAKE A DONATION: http://thelastgreatstand.com/donate-us/ — SEND ME A TIP OR COMMENT: contact@thelastgreatstand.com — LAST GREAT STAND GIFT SHOP: http://www.zazzle.com/thelastgreatstand/products — MY SUN FROG T-SHIRT STORE - https://www.sunfrog.com/thelastgreatstand ------------------------------------------------------------------------------------ FOLLOW ME ON SOCIAL MEDIA!!!!! ------------------------------------------------------------------------------------ WEBSITE: http://thelastgreatstand.com YOUTUBE: https://www.youtube.com/c/RightWingConspirator FACEBOOK: https://www.facebook.com/LastGreatStand/ TWITTER: https://twitter.com/LastGreatStand PINTEREST: https://www.pinterest.com/lastgreatstand/ INSTAGRAM: https://www.instagram.com/thelastgreatstand/
Comments
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Willie's very first statement was nonsense. The Chinese do not own the FED. The PBOC just announced this week that their long term view on the dollar and treasuries has not changed and they will continue to invest in them. Just because a country owns treasuries does not make it an owner of the FED. It is actually owed by the 12 FED branches and these are owned by the banks in the jurisdiction of the each of the branches. Bank ownership is public knowledge and can be looked up if anyone wants to take the time. Since the interest of treasuries is guaranteed by the US government and not the FED this would be like saying that countries who own treasuries own the US government which is absurd.
The IMF is the entity that determines if a currency has reserve status. There are actually five and they are the dollar, pound, yen, yuan and the euro. What this means is that when a country borrows from the IMF the loan is actually made in SDRs and the country can then exchange the SDRs to any of the five reserve currencies. All countries hold SDRs as part of their official reserves including the US, China and Russia. The dollar and treasuries have flooded the international financial community by use of the petrodollar. The petrodollar is no longer needed to recycle these assets as this has been accomplished. These asset classes are considered to have safe haven status because of their liquidity. The world simply has too much invested in these to allow the dollar or treasuries to collapse. 75% of all financial transactions are actually done with dollars and this does not include trade settlement. You simply do not need to be a reserve currency to settle trade with another country. All it takes is a swap agreement between two countries which China has made with a host of other countries and trading blocks even before it was made a reserve currency.
Treasuries are not used to settle trade but currencies are. Treasuries are held by central banks because they pay interest and holding dollars does not. So when an importer needs dollars to settle trade the central bank sells treasuries for dollars and then these are exchanged by the importer's bank from their local currencies with the bank sending a letter of credit stating payment terms to the exporter. It is a pretty straight forward transaction and happens electronically. This is the reason why central banks hold treasuries and they do not prop up a country's banking system.
Willie's take on bobcat is just nonsense. For one ports do not have the authority to deny payment as they are not involved in the transaction as explained above. This is between importer and exporter and involves their respective banks. In addition bobcat has a facility in North Dakota where their HQs are and this facility services North, Central and South America and they actually export from there not import. The plant in China services Asia, and the two plants in France and the Czech Republic services Europe, the Middle East and Africa. Because the dollar is so strong exporters to the US actually want dollars because when they exchange them to their own local currencies they make a killing on the exchange rate as most currencies are very weak against the dollar. To say this increases their bottom line is an understatement. I remember reading some time back a German firm actually made more profit from the exchange rate than they did on profits from products they manufactured and exported. Take German auto manufacturers. They not import cars to the US but also have plants here and when they sell these products they receive dollars and when they exchange dollars for euros they still make money on the exchange rate conversion. So the idea nobody wants dollar is absurd. Willie just doesn't understand international trade and how exchange rate plays a huge role in this.
His take on the gold trade note is just as ridiculous as this would increase trade settlement cost and countries have been doing the opposite and reducing these cost by weakening their currencies. They are also using the SDR.
The idea that the US defaulted on its debt is just as ridiculous. The reason China sold treasuries is that they are a huge importer of US commodities and a strong dollar makes these too expensive in foreign markets with demand falling. China needs a weaker dollar along with the FED. The FED has asked central banks to flood the system with dollars hence the selling of treasuries for dollars and then the selling of dollars. The problem is there are to many global forces working against a weaker dollar. The PBOC has just announced it has not changed its long term outlook on the dollar and treasuries which is positive and they will still purchase these assets.
The US only imports 15% of the total food supply. Vegetables are 20%, fresh fruits is 50%, and seafood is 80%. 15% is very small.
I am convinced Willie just makes this crap up! The US does have a treasury note which is actually not currency but treasury bills, notes and bonds. Bills are short term debt, notes is medium and bonds are long term.
Again the dollar cannot lose its reserve status as it makes up more than of the SDR basket of currencies backing it. Also central banks do not take orders from the BIS. This is just a clearing house for all central banks and rules that come out of Basel are when central banks meet and vote on proposed rule changes. They are not talking about using gold. If gold went to $5000oz that would mean the dollar collapsed and most people would not be able to afford food to survive and gas would be over $10 a gallon at the pumps. This is just nonsense as gold next year is going under $1000oz all due to dollar strength. There are two groups that have been claiming for years that gold is going to the moon. One is those that market metals especially on the retail side and those that sell subscription services like Willie. Both have been wrong in their forecast because none of these have any experience trading any financial market! -
Hopefully good lord we can talk about this topic next week too.
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Dollar refusal for trade payment was discussed like 8 months ago and we still keep talking about it NOW. Lets spend an entore hour repeating stuff we talked about last time.
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Global Nuclear War. http://atomicgodblogspot.blogspot.com
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Jim Know His Shit! I Highly Recommend His Newsletter!
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Try not to bounce around?Kid if you bounced any more peddling your useless subscriptions you'd scramble both of the brain cells you have left.You sell nothing but fear and yesterdays news.You are just another scammer who is too fucken lazy to get a job.Sounds like you are near death anyhow so I guess thats why it sounds like you live in a rat infested housing project.I haven't heard more sirens since I was a kid living behind a busy firehouse.Keep peddling your useless rag and writing books about shit we all read about in the 80's you fucken scamming lazy waste of space inbred jew baby cocksucker.
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Would taxes be payable to the fed or to the treasury
Interest would then be paid to the treasury at 2-3% that would pay for a lot of services
What happens to the central bank system -
It's like a Serpent that they found growing in the sewer system in New York that could eat three square blocks. When asked what to do, they decided to keep feeding it so they could buy some time and figure a solution.
Now two decades later, there is no solution, they can't produce enough food to keep it happy, and it's grown so large it could eat all of New York State by now when it breaks out. Kick the can down the road. -
Please click on the link and sign up : http://eepurl.com/ct-Tz9
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Look for major selling to start on Wednesday the 28th to lock in these insane stock equity gains post election, cuz of the 3 day settlement rule, and Tuesday is the last day to sluff off the dogs for tax loss purposes, and square up the books etc. :-) Silver will be the star performer in 2017 forward :-) Merry Christmas Jimmy and Mike :-)
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What kind of moron would sell a ship full of cargo and reach a deal in US dollars for payment and then reject payment at a port for US dollars and have the cargo sit on the ship and pay for more shipping time? Answer is no one. This does not happen. Shipping is paid before it gets on the boat.
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Jim is just spooning shit, making it up as he goes. Even Paul Sandhu will not have him on anymore.
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thanks to both of you
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Hahaha, part 2 has no downvotes, those lazy Israeli fag troll fuckheads.
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So is the old US Notes still worth anything ?
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1-800-LUCIFER is a phone sex line. lol
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Whats with the beep??
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