Sunday, April 17, 2016

Jim Rickards in-depth interview--world finance designs today

But China has been relatively quiet. It's as if it's treating us with velvet gloves.
Jim Rickards:  And that's exactly how it wants it. You've heard the saying "keep your friends close, and your enemies closer." China would much rather come off as friendly, so it can keep us roped in while it continues to covertly prepare for this global reset and create a new global reserve currency where the dollar no longer has a dominant role.
Andrew Packer of Finance Intelligence Report:  I've been thinking about that quite a bit as I read and re-read the updated dossier you sent me recently. It would seem that China might use a "basket of currencies" to set the value of the new monetary system — much like the baskets of currencies that were used before the introduction of the euro. Back then, the Deutsche mark ... French franc ... Swiss franc and even the Japanese yen would be grouped together to set certain values for international trade.
Jim: This is definitely in the cards. Only this time, the Chinese yuan will take a lead in the resetting of the world's reserve currency. But China won't go it alone. It needs an alliance of countries to pull this off.
And that's why the first step started with the Glaziev Directive. You see, China can't flip the switch on this global reset when it has $5.4 trillion in exposure to the U.S. dollar. If it did, it would immediately lose the $1.4 trillion it holds in U.S. debt, and the remaining $4 trillion in dollar-denominated reserves could drop by 50% or more in an instant.
As for Rickards, his recent articles are of March 26, April 1, April 4:  see

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