Over the weekend, well known author and economic analyst Willem Middelkoop sent out an email regarding some insider information he received about a meeting between Russian and Chinese leaders where they discussed ending dollar hegemony, and cultivating the establishment of a new financial order. This meeting, and its main thesis, is occurring at the same time that Western financial institutions in both Italy and Germany teeter on collapse, and central banks in the U.S. and Europe mull over new Quantitative Easing (QE) programs to put a band-aid on a dying status quo system.
Brexit can be seen as part of a world wide revolt against the establishment, which gave us the British and American empire (together with a few dozen wars).
People are ‘Fed’ up with elites and their game plans (EU being one of them). Desintegration of EU has started now. Had to happen anyway. But I am afraid of the other unintented consequences.
Sure, insiders know this debt fueled growth model can’t go on forever. Stating this in the past was a step out of the official ‘party line’. But without anymore QE the whole system (house of cards) will simply start to collapse.
I will be waiting for insiders to start calling for Debt Restructurings and moves towards creating much more SDR-liquity to know real changes are being prepared.
Until that point more of the same is to expected. But more QE and ever lower rates will increase the flight to gold, which could lead to a paper-gold-default (and silver) on the COMEX (Chicago) and/or LBMA (London) exchanges/systems.
On a side note; Russia and Chinese leaders met twice during last week and called (again) for an end to the current (dollar) system.From my contacts with Chinese insiders I know they really understand our problems well and are clearly preparing for The Next Phase (a monetary and geopolitical reset) (note: bold emphasis is mine)
Time has come to become very defensive now. A new worldwide financial and political crisis could just have been started. When Trump will be elected it’s time for the real fire works. It will be the American equivalent of a Brexit. A huge shift from the political past.
regards, Willem – Willem Middelkoop via Silver Doctors
Willem Middelkoop is the author of The Big Reset: War on Gold and the Financial Endgame where he lays out the inevitability of the world leaving the dollar based Bretton Woods agreement, and forging a new monetary system that sees a return of the gold standard in some form.
Ever since the beginning of the year, and accelerating even more following the UK’s Brexit vote on June 24, sovereign nations, central banks, and high wealth investors have been buying gold and silver at record levels. And since the Chinese have already intimated that a gold backed RMB and trade mechanism is part of their long term monetary goals, it appears right now that the flight to safety in precious metals will only increase as currencies continue to devalue, and bond yields go more into negative returns.
No purely fiat currency has ever lasted longer than the dollar has, but like all previous ones it appears that its days are numbered. And as more and more nations flock to Russia’s EEU and China’s Asean trade unions, once a critical mass of global trade is achieved using each nation’s own currencies rather than using the dollar as a medium of exchange, the likelihood of the East declaring a new global monetary system is assured, and most of the West will either be left isolated, or forced to change their own systems if they want to participate in the new paradigm.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.