Paul Volcker wants a new Bretton Woods agreement to replace the old one which Nixon broke in August of 1971 when he refused to redeem dollars for gold at $35 an ounce. Henry Kissinger took us onto the Petrodollar standard in 1973 after the Arab-Israeli war. The Gulf oil monarchies agreed to sell oil only in dollars. These dollars bought US Treasury bonds and helped fund America’s perpetual budget deficit and to pretend it had also solved its trade imbalance. Some have mistakenly accused America of fighting Oil wars. We have been fighting wars to defend the Petrodollar. The wars against Iraq, Libya and Syria have been waged to oil being priced in dollars. Iran has no nuclear weapons program. The sanctions against Iran were designed to force the Iranians to back down and sell their oil for dollars.
Paul Volcker was the former Federal Reserve Chairman who saved us from Jimmy Carter’s policies by charging 15 1/2% interest on a home loan. He made Ronald Reagan President. He is now saying that America has to give up the advantage Bretton Woods gave us and negotiate a new trade system which is fair to countries outside the US. In the 19th century Americans had to either buy British pounds or gold before they could buy goods from overseas. Modern America has received trillions of dollars in free cars, electronics, clothes, food, toys, food, oil and everything imaginable just by printing Federal Reserve Notes. The printing press has also allowed the Pentagon to pay for its wars and its occupations of foreign lands. It is easy to see that someone whose 8 year-old daughter was killed by an American drone would be really angry. But what is not clear to many is that foreigners who sell their mineral and oil wealth for Federal Reserve Notes are to blame for that little girl’s death. America has been bankrupt for years and could not finance an invasion of Syria without the help of poorly paid miners in Peru and South Africa and exploited oil workers in Nigeria and Indonesia.
That is why the BRICS nations (Brazil, Russia, India, China and South Africa) have formed an alliance with 80 nations to take down the dollar as the world’s international reserve currency. There is a lot of ground work to be done in the commodity and bond markets. The Chinese would like to settle 50% of all world trade in currencies outside the dollar before they go against the dollar. And they would like to continue importing 1,000 metric tons a month of gold as they have done since April 2012. The price of silver will no longer be fixed in London as of August 14th. Gold will not take long to follow. Clearly economic power is shifting away from London and the pound and New York and the dollar.
If dollars from overseas are redeemed as Volcker is implying, then prices will at least double overnight. Jim Rickards who is a member of the Council on Foreign Relations and a financial adviser to the Pentagon says the dollar will be devalued in a series of moves 20 to 30% each time until it is devalued 80%. This, as Rickards says, will increase the price of imported goods 500%.
The Power Elite has seen the handwriting on the wall because they wrote the message. They dedicated themselves to the sacking and looting of America many decades ago knowing that destruction of the country that worked to support them and fought to protect them was their ultimate goal. We need to go back to September 10, 2001 when Donald Rumsfeld said he could not trace $2.3 trillion in DOD spending. He promised to do better. It is 2014 and the Pentagon and the Department of Homeland Security still have not been audited.
Jim Willie is one of the few speaking out about the Federal Reserve, the Treasury and the banks who are called primary dealers. He said the Treasury printed up $2.5 trillion in Treasury bonds but J P Morgan sold $4.8 trillion of those bonds. The banks have been leasing gold from the US and selling each bar five times. They have sold gold from Germany and Austria, the Netherlands and everyone else. Dr Willie says that the British have even sold the Saudi family gold on deposit in London. All that gold has been shipped to Asia. The Bankers have not just been stealing from the Pentagon and the Treasury. Catherine Austin Fitts was the Housing Commissioner in the first Bush administration. She said she found one block in San Diego that had $20 million in fraudulent loan guarantees. The federal government was guaranteeing loans on imaginary properties that did not even have postal addresses. She said 77.2 billion dollars went missing from HUD in just the last two years of the Clinton administration. That level of incompetence has to be intentional.
The people who support America’s wars find it difficult to believe that the Bankers want America to lose World War III. They deindustrialized this country. The North American Free Trade Act sent 12 million jobs and 56,000 manufacturing plants overseas. Catherine approached the head of the California State Pensions board in 1997 about investing. He said he was told that it had been decided that America was through and there was no point in investing in this country. Wall Street has found no end to the wars for Americans to fight with their dwindling industrial and financial assets.
Dr Willie recently talked about the Federal Reserve and the audit Ron Paul had forced on them. It revealed that in 2008 and 2009 that the Federal Reserve had loaned their directors and major shareholders $23 trillion dollars at near zero interest. He did not mention the money the Bankers make from laundering money. The Bankers launder a trillion dollars a year in illegal drugs and weapons. They also launder $500 billion a year in political bribes. About 40% of those bribes were to Chinese politicians. The $23 trillion in borrowed money plus the money stolen from unaudited federal spending plus the trillions from selling fake Treasury bonds plus the money from selling gold on loan from the government plus the trillions from selling mortgages five times and stealing homes in the Mortgage Backed Securities scam was not enough. They sold all of our pension funds fraudulent bonds and securities. That was not enough. They need everything. And have decided that you will have nothing.
Do you think you own stock? Do your friends think they own stock? They do not own stock unless they are holding their shares in their hands. ‘All stocks in the US are held in the computers at the Depository Trust and Clearing Corporation. The DTCC holds all stocks and bonds. They handle 1.6 quadrillion trades every year. DTCC’s depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US $36.5 trillion. In 2010, DTCC settled nearly US $1.66 quadrillion in securities transactions. Who is on the board of Directors for this hidden Quadrillion company? The Board of Directors are from Goldman Sachs, JP Morgan, Merrill Lynch, Deutsche Bank, Wells Fargo, the Federal Reserve and others.’
I think the dollar will collapse soon enough. The Chinese would like to take the dollar down over a period of two years. But China has severe problems in their Shadow Banking system. They have trillions in bad debts and other frauds. Their only means of even partially covering their losses is to sell a trillion dollars in US Treasury bonds. That would destroy the dollar and the entire world economy leading to death by starvation and food riots of at least half a billion people including 10 million Americans. I have suggested in the past that we invade the Caribbean bank havens and seize $4 trillion in the personal assets of China’s politicians. We should also seize all stocks, bonds and real estate bought with funds from those accounts. This will give the Chinese people a soft landing after they have arrested their leadership. It will also help us achieve worldwide Debt Cancellation.
I believe our only exit is to arrest the Bankers and to seize their assets to cancel debts and fully fund pensions. As I explained before, Depressions are periods of time in which Unpayable Debts are cancelled. As it stands, a dollar devaluation will lead immediately to a Hyperinflationary Depression just like 1923 Germany. But on the way out the Bankers will steal everything at the DTCC. One or two computer viruses loaded into the DTCC servers would let the Bankers claim all financial assets everywhere as theirs.
The Bankers stole our money. If you read the Foundation studies they funded, you know they plan to release a series of plagues to kill a few billion people. That way they don’t have to deal with angry taxpayers, depositors and pensioners whose money they stole. Dr Willie in the video below talks about the evil nature of these Bankers and the $23 trillion they borrowed at near zero interest and the trillions in counterfeit bonds they sold. I do not believe the US military junior officers will allow Washington and New York to steal all of our money, throw us out in the street and release plagues to kill a few billion people.
This first article explains just about the only exit path that allows America to survive except for Divine intervention.
How And Why An American Military Coup Could Save The World
Jim Willie: BRICS 80 Preparing To Take Down The Dollar
Wall Street’s Plans For The Great Starvation
Scott Rickard: US Drug Lord Runs Defense Intelligence Agency
This is the Jim Willie video:
Paul Volcker’s interview is here:
Read more about DTCC here: