PUBLIC: Questions and Answers from Readers - August 14 2016

Economy | Information | History | Online | Facts | World | Global | Money

1. Very informative and right to the point.
2. good stuff. thanks. i do think that when the dollar is finally recognized as dead, and when no one wants it, that all debt denominated in dollars, all personal as well as business and govt will all be defalted on. if the grid goes down then that will be all the more true. a new day is dawning. the man has lost. the fraud is being exposed. total reset coming. the central bankers lose this time :)
3. Evidently these guys have not read any articles or watched any videos by the IMF, BIS and the PBOC the last 6 years. The plan is already in place and most of it has already been implemented. After the last financial crisis caused by wall street in 2010 all IMF members agreed, (except the US), the world would move from a uni-polar dollar denominated world to a multi-polar one where the SDR and other countries currencies would be used to settle trade. The BRICSA trade block is now using each other countries to settle their trade with each other and where China has set up currency swap agreements they use the yuan and the other countries currencies to settle trade and this is an impressive list. In October when the yuan is officially added to the basket of the 4 soon to be 5 world's reserve currencies, BRICSA will use the SDR to settle trade with the west. All countries now have SDRs has a part of their official reserves including both China and Russia. China's Asian Infrastructure and Investment Bank announced they will issue SDR backed bonds and loan in SDRs. London has announced it will issue RMB, (yuan), denominated bonds. The is going to be a very slow and orderly process as most countries have substantial US dollar based assets and it is nobodies interest to have those assets collapse whether it is the dollar, treasuries or US government agency debt. China alone holds over $1 trillion in these assets.
   Now both Richards and Greenspan have been out there promoting the theory that all of the US's problems would be solved going to a gold backed monetary system. The Director of Economics at the CFR was quick to post an article last week and he stated that it was all nonsense as the last time the US was on such a system it was a total unmitigated disaster as the US could not purchase the constant need for gold to back the ever increasing need for liquidity so an economy could grow and created jobs. He stated that no one is even considering it but most countries can't keep purchasing gold on a constant basis. Remember under such a system you not only need gold to back your currency but also you must constantly buy more because entities have the right to exchange the gold backed currency for actual gold.
   Now there a lot of confusion and nonsense pertaining to derivatives. All futures commodity contracts are derivatives.So are all options on equities along with forwards. These are all traded on exchanges. What the banks hold are actually bilateral contracts between usually two entities. Most contracts are protection against future interest rate rises and most derivative books are actually hedged in one way or another. If Deutsche Banks sells a policy to an entity for protection against a sudden rise in rates you can bet Deutsche has hedged this for their own protection usually on one of the derivative exchanges mentioned above. Now the International Swaps and Derivatives Association must actually declare an "event" before a derivative can be collected on and as we saw with the Greeks defaulting on their debt, the ISDA did not declare an event.
   Also it is total nonsense that South America is totally dependent on the dollar and the SWIFT system as both China and Russia has set up their own versions and they have been on line since the first of October 2015 and these are used by BRICSA to settle trade. They are also being used where China has set up currency swap agreements with non-BREXIT members.
   These guys are like Willie as they just make up crap as they go along and use fear porn to market their metals!
4. haha good aye bill n jim yea i think i have just a lil over 2 bux in my bank HAHAHAHA but if you could answer this i dunno where you sub questions but i think this is my next all time question so have you heard about the NEW 100 bill that half is ol half is new gold and that will be the transition payment so if thats true bail ins DO NOT MATTER if thats true all that matters is china demanding 50% devalue and amerika said thats too harsh we will do 30% and then another 30% again a few months later so if you don't ahve the new 100 and you don't have foreign cash and you don't have silver well i guess or gold but i say sell your gold and buy silver but you gotta have that 100 have you heard this could it be true and if it is true what effect will have that on everything we discuss everyday....?!
5. Thanks guys! This is the most informative show going! Keep it coming!
   More questions! Learning a lot!!
6. Right! The prices of homes are bloated beyond belief because of the use of credit! Example: My dentist wants 1500 bucks to do one crown on one tooth for me. Why so much? because he knows that I will use a credit card. Wrong! I went to Mexico and had the same thing done by professionals for 350. dollars. American Dentists are thieves!
7. Jesus Christ, Jim is a multi-millionaire. Get an HVAC guy out there to fix the friggin air conditioners........
8. Great info....thanks guys!
9. You guys are incredible insightful. Thanks for all you do
10. Where do we find the newest article written by Bill that Jim was alluding to in this podcast? Is it on the subscription site on JS Mineset?
11. Jim, you are a smart guy, great insights, thank you, and please stop interrupting your partner - let him finish a thought for god's sake.
12. What about the Chinese Interbank Processing System (C.I.P.S) which is the answer to S.W.I.F.T; as it is up and running and fully functional to perform international trade?
    
    Could Central and South America switch to this new system that the Chinese have produced?
13. Great work gentlemen!
    
    I can help people to be outside of the banking system. If anyone is interested, they can check out my channel.
14. Great Q&A. But would love it if you had Greg Hunter moderate your sessions. He did a fantastic job last time.
15. Very poor quality gentlemen and with all respect - I leave after 6 minutes.
16. Will you please send Jim a decent phone....or ask him to put in his teeth, whatever the case may be?
    it's difficult to understand him
17. This was just amazing! Thank you gentlemen!
18. There is a heavy machine company in Texas that has their invoices and receipts written to accept cash, check, credit, gold and silver.
19. Jim Rickards says they will start issuing SDR as the new world money Oct. 1, and that China is now authorized to sell bonds in SDR's.