Bill Holter from JS Mineset is back to help us document the collapse for the fourth week of May, 2016. And as physical gold and silver moves East and intothe strong hands of more than a billion Chinese, and as foreign banks publicly settle global trade in the Yuan, Bill reminds us that “Every step forward by China, is one or two steps backward for the US and the Dollar, that’s what’s happening. For instance, if the Yuan is backed by gold, then why would someone accept the Dollar in lieu of the Yuan if the Dollar’s not backed by anything.” The build out of the infrastructure for the world to move completely away from the Dollar is almost complete. You have been warned.
Interesting. View the video at source link
#1: Vicomte13 To: Stoner (#0)
If Bill Holter believes what he has written, I assume that he is no longer selling any of this physical gold or silver in exchange for the dollars that he says will soon be worthless.
Vicomte13 posted on 2016-05-25 09:37:26 Reply Private Reply
#2: Stoner To: Vicomte13 (#1)
But, if the dollar becomes worthless, and it looks to be heading that way, and the nation has sold off all of its gold, he does pose an interesting question " How Will America Trade With WORTHLESS DOLLARS & NO GOLD? ".
I certainly do not have the answer.
Stoner posted on 2016-05-25 17:37:46 Reply Private Reply
#3: Vicomte13 To: Stoner (#2)
I do: America will not trade with gold. America will not trade much at all, initially. What America will do is use the dollar internally and develop its resources. The economy will tumble and there will be depression, and either foreign money will come in to buy things because it's cheap her, or the foreigners will be kept out and the economy will eventually grow again based on the massive internal production and consumption of 320 million people.
Thirty years ago the Chinese didn't import much, and the Indians still didn't import much. They were (and in many ways still are) largely poor countries where labor is cheap, and therefore export powerhouses.
America doesn't have the populations of either of those places, but we are the third most populous nation in the world, with the greatest amount of arable land a huge land area, and better weather than the other top three or four nations.
If our currency collapsed and the world no longer wanted it, we still have all of the native ingredients to simply rebuild from the beginning all over again.
The short answer is that we would suffer, for a time, and then gradually redevelop our way out of the crisis.
Vicomte13 posted on 2016-05-25 17:53:08 Reply Private Reply