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Sep 26, 2017

De-dollarization and emergence of gold-backed new financial system ... Significant devaluation of the dollar to drive developing countries and Japan into absolute chaos

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De-dollarization and emergence of gold-backed new financial system ... Significant devaluation of the dollar to drive developing countries and Japan into absolute chaos
This is a sequel to the article on Sputnik interview with Mr. Peter Koenig, which I picked up yesterday. Reading the article, you must well understand the directionality of global situation.

As Mr. Fulford has often mentioned, “already now, The SCO and BRICS countries contain about half of the world’s population and control one third of the world’s GDP. They truly do not need the west for survival.” Therefore, it is not necessary to conduct international trade on a U.S. dollar basis.

But change to a new financial system has to happen prudently and gradually, because rapid change will cause big damages to emerging economies which are dependent on the U.S. dollar. Their reserves are still largely dollar-denominated. And if the western system collapses, it is highly likely that emerging countries would also go bankrupt. To prevent it, previous agreement and careful preparations are needed.

Emerging of a new financial system backed by gold will cause the world to move towards a multipolar world. I suppose that under such circumstances, the U.S. will try to issue a new Treasury currency backed by gold. This is so-called significant devaluation of the dollar. It will inflict heavy damage on Japan with voluminous amount of U.S. government bonds and emerging economies with only dollar reserves. Unless prior arrangement is made carefully, the moment a new financial system is initiated, the society would be chaotic.

The military which supports Trump administration has made efforts to establish a new financial system is oriented toward working together with Russia and China.

According to the tweet below, Venezuelan President Maduro “declared to trade petroleum in currencies other than dollar.” Although President Trump has repeatedly made strong remarks to Venezuela, Venezuela is to be protected by Russia and there is presumably an agreement between Russia and the U.S. military.

Under such conditions, how should we interpret the threat of the U.S. Department of Treasury against China described in the first tweet: “Unless implementing the new sanctions against North Korea, the U.S. prohibits China from trading in dollars”? This is almost like the U.S. economical suicide bombing. Conversely, it means that the U.S. is driven into a corner that much and it is a sign that bankers who own FRB are driven into a corner.

September 18, 2017
Masatoshi Takeshita

Note:
Shanti-phula has indicated some parts of the following text in black boldface type or in red letters.


Excerpt from a Japanese article: Overseas Article Never Reported by MassMedia
September 17, 2017 –

Gold Trade Between Russia and China – A Step Closer Towards De-Dollarization?

Transcript of Sputnik, Skype Interview, 6 September 2017
By Peter Koenig and Sputnik

Global Research, September 07, 2017

Source:

<snip>

Peter Koenig: <snip> And China and Russia are moving fast towards complete independence from the western economy.   <snip> Already now, The SCO and BRICS countries contain about half of the world’s population and control one third of the world’s GDP. They truly do not need the west for survival. To the contrary. <snip> But – it has to happen prudently and gradually, because all the emerging economies that would like to join the BRICS and the SCO are still to a large degree dependent on the US-dollar; their reserves are still largely dollar-denominated. And if the western system collapses rapidly, they would tend to lose out dramatically.

<snip>

Sputnik: Now, China is soon expected to launch a crude oil futures contract priced in yuan and convertible into gold. How could this initiative change the rules of the global oil game?

<snip>

PK: It will change everything. <snip> … detaching from the dollar-based western monetary system, and instead trading in Yuan, rubles or gold, or any other local currencies for that matter, will make ‘sanctions’ completely ineffective. <snip>  It is through non-dollar international trade contracts that the western dollar-based monetary system will be gradually dethroned and dismantled.

(The rest is omitted)

---
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