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    Default Advisor to Putin hints at the collapse of the US Dollar

    The Russian Tass news agency is reporting that Sergey Glazyev, a Russian economic advisor to Putin and a Full Member of Russian Academy of Science, has warned that Americans "will see the final collapse of the dollar" of they continue their aggressive ways.

    In an April 21 (last Friday) article entitled Kremlin advisor reveals 'cure for US aggression', Tass reports:

    =============
    Kremlin advisor reveals 'cure for US aggression'

    Russian Politics & Diplomacy
    April 21, 19:22 UTC+3

    Putin's advisor also believes that Donald Trump is just "doing what the ruling elite expects him to do"
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    YALTA, April 21. /TASS/. The only way to stop the United States’ aggression is to get rid of dollar addiction, a Kremlin advisor said on Friday.

    "The more aggressive the Americans are the sooner they will see the final collapse of the dollar as the only way for the victims of American aggression to stop this aggression is to get rid of the dollar. As soon as we and China are through with the dollar, it will be the end of the United States’ military might," Sergey Glazyev said in an interview with TASS.

    Commenting on the policy of the new US president, Glazyev noted that Donald Trump is doing what the ruling elite expects him to do.

    "I had no illusions about him, that he will change the policy. First, America’s aggressiveness in the world is rooted in the aspiration to preserve America’s hegemony in a situation when they have already ceded leadership in the economy to China," he said.

    "The United States has no tools to make all others use the dollar other than a truncheon. That is why they are indulging in a hybrid war with the entire world to shift the burden on their debts onto other countries, to confine all to the dollar and weaken territories they cannot control."

    "In this context, the anti-Russian hysteria and growing Russophobia can be seen as a long-term factor linked with the specific interests of the United States’ ruling elite," the Kremlin advisor said.

    "In objective terms, they are conducting a global hybrid war and in subjective terms, this war is aimed against us. More to it, as it always happens when a global leader is changed, the war is for control over rimland nations. In the period of WWI and WWII, Britain acted as a provoker in a bid to keep its global leadership. Now the United States is doing the same. And Trump expresses these interests," he said.
    =============

    My (Paul) comments on this:

    Notice in image that Tass chose what look like gold coins as the alternative to the muffled US Dollar. [P.S. - Correction: more likely these are 10 ruble coins, with their brass edges and alternating segmented reeding on the edge. ] In related news, in the latest Hat Trick subscription newsletter from Jim Willie (which he apparently finished writing prior to learning of the above Tass report), Jim Willie is increasingly specific and certain that gold and silver will play major roles in the monetary system that replaces the US Dollar.

    Notice also that the above Tass report introduces yet another way for the elite to trigger the final collapse of the US Dollar - fed up Russia and China abandon the dollar to quench excessive US aggression. A month ago, that would not have made much sense, with Trump apparently trying to make peace with Russia. But Trump turned into a Neocon this last month, increasingly billigerent on the global scene, which opens up this alternative scenario for trigging the monetary collapse.

    Either way, it sure seems to me that we'll know what trigger(s) were used to initiate the collapse of the US Dollar world reserve currency system soon enough - likely by fall of this year, if not sooner, possibly even much sooner.

    ===

    A tip of the hat to Michael Rivero's WhatReallyHappened.com for reporting on the above Tass article.
    Last edited by Paul; 24th April 2017 at 08:36.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    he's been mentioning this for years. as well as his mentors from soviet times. in fact leading world economists predicted dollar collapse in late eighties but orchestrating successful collapse of soviet union prolonged their survival upto now through oligarchs & corporations entering new market. they simply just bought themselves time as the system cannot grow infinitely on finite earth.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by Morbid (here)
    he's been mentioning this for years. as well as his mentors from soviet times. in fact leading world economists predicted dollar collapse in late eighties but orchestrating successful collapse of soviet union prolonged their survival upto now through oligarchs & corporations entering new market. they simply just bought themselves time as the system cannot grow infinitely on finite earth.
    Yes - I too have been predicting economic and Dollar monetary collapse of one form or another for perhaps a decade now.

    I'll get it right sooner or later .
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Thanks for all the insight Paul , the Russians already know how to live on bare bones when their economy collapsed. For many years now I've heard of the large purchases of metals by china and Russia , Its an interesting dynamics happening along with the paradigm shift of the amount of world debt now accumulated and the promises of many underfunded pensions and the tapped out consumer which is spending less and buying more online thus hemorrhaging the retail real estate market. Ah the winds of November seem to be lingering around aren't they.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by Paul (here)
    In related news, in the latest Hat Trick subscription newsletter from Jim Willie (which he apparently finished writing prior to learning of the above Tass report), Jim Willie is increasingly specific and certain that gold and silver will play major roles in the monetary system that replaces the US Dollar.
    As I read this month's report from Jim Willie (it just came out this weekend, and is lengthy) I am struck with how confident Willie is that a gold backed currency system will once again be our one true, fair and honest monetary system.

    I disagree with Jim Willie on that matter. I fully expect that the vast majority of the people, businesses and governments of the world will continue to be controlled using a debt-money system, just with a different published basis for how the currencies of the new world monetary order are supposedly valued, involving gold and silver in some nebulous way. I also expect that the vast majority of the world's gold and silver will still be held in the hands of a very few of the most powerful families and institutions. Furthermore, I expect that the courts and laws and surveillance and mass control and propaganda will remain firmly in the control of those very few.

    It surprises me that a man with such a sharp mind, such good contacts in the financial power centers of the world and such a skeptical mind set as Jim Willie would so consistently think that gold and silver will be the precious metal keys to a wonderful new future. Perhaps Jim Willie had to make a deal with the devil (as he has admitted he had to on another topic, criticizing Israel by name) ... some sort of deal in which Jim has to sing the praises of a golden future. Or perhaps Jim Willie is relying too much on what his contacts (the ten or a dozen in his group) are telling him, and those contacts are for one reason or another over selling gold.

    I expect that the elite will pump and dump gold and silver, during and following the monetary reset, as part of convincing people that the new "gold backed" world currency system is a sound system. That claim of "gold backing" will be mostly for show however, and a chance for the elite to vacuum up even more of the world's gold and silver, from all those gold bugs and silver stackers who bought expecting to make the profit of a lifetime, and plan eventually to sell, hopefully as close to the top as they can, or more likely in desperation, after the great dumping.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    The US Dollar will collapse when it is no longer needed as much.

    Currently the US Dollar is needed to pay for much of the world's
    • opium based drug trade,
    • petroleum resources,
    • arms (guns and bombs),
    • other traded goods and resouces, and
    • payments on Dollar denominated debt.
    Commentators, including Jim Willie, claim that near run-away "inflation" has been happening because the US Federal Reserve has been buying up many trillions of dollars worth of failed (no one wants to buy) Treasuries, Mortgage Backed Securities (MBS) and such.

    I disagree with Willie on that point too. There is no such run-away inflation so far, and what the Fed is doing should not be confused with such inflation.

    For one thing, the Fed is not so much "printing trillions", as it is repackaging that Treasury and MBS debt, taking it off the books of Fannie and Freddie Mae and of Treasury holders such as China, and putting it onto the balance sheet of the Fed (and its standins such as Belgium and the Cayman Islands.) Such debt repackaging is not how new money is generated in our debt-money system. New money is lent into existence, and for the last 8 years, lending has been continuing at rates not enormously different than before. As an aside, that continued lending rate is changing recently however, as banks are pulling back on lending, which is a deflationary change and is the classical way in a debt-money system that the lenders (the big banks) are directed to start a recession.

    For another thing, whether or not "inflation" happens is not determined simply by the abundance of money supply, but rather by the relative amount of money supply to money demand, and as one can see from the above list of what the US Dollar is needed for, it's still needed in great quantity. Currency inflation is too much money chasing too few goods. The Dollar denominated arms, drugs and debt payment businesses are still going "great guns", even if the petro business is suffering from chronically depressed prices.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by pyrangello (here)
    Thanks for all the insight Paul , the Russians already know how to live on bare bones when their economy collapsed. For many years now I've heard of the large purchases of metals by china and Russia , Its an interesting dynamics happening along with the paradigm shift of the amount of world debt now accumulated and the promises of many underfunded pensions and the tapped out consumer which is spending less and buying more online thus hemorrhaging the retail real estate market. Ah the winds of November seem to be lingering around aren't they.
    fyi the gold that 'russia' is supposedly buying is actually being stored on central bank of russia account which itself is not government controlled establishment. after 1991 the central bank is a currency board instrument owned by the same shareholders that own fed so basically yeah.. putin has no power over them as they are backed by the gang above governments.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Today I have been told by a very large corporation exec, at high levels, that they are preparing for a real huge downturn in the economy, I mean preparing in the bolts and knots of daily management through financial crisis, preparing right now. I thanked them for confirming what I had read.

    When large corporations know and are in such readiness, it is coming folks, get prepared as well.

    Paul, it is time right now to tie up all our readings and everything we know for this coming downturn, it is at our doors.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by Flash (here)
    Paul, it is time right now to tie up all our readings and everything we know for this coming downturn, it is at our doors.
    The largest debt, tyranny, violence, and deceipt intoxication in recorded human history appears to be coming to the end of its current expansion phase.

    It seems inevitable that it will be followed by an immense hangover. I expect the withdrawal pains to be immense.

    However I am reminded of something I learned over, and over, and over again, while in the computer business. Big changes end up taking longer than I ever imagined at the beginning, but end up being more substantial, in ways I never imagined, when finally realized.

    If the coming hangover was followed by humanity finding a healthier way, for itself and for the planet, to manage its affairs, then I would be grateful.

    However I am not that optimistic. I expect rather a renewal of that which should not be renewed, on yet a grander scale, mutatis mutandi.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Yes - I too have been predicting economic and Dollar monetary collapse of one form or another for perhaps a decade now.


    Have you considered ( Paul ) what would happen if they ever do default or the consequences if America loses the reserve status ( of the dollar ) or dollar collapses completely.

    well there is a saying
    Quote Be careful what you wish for
    . I think chaos would be result in America .

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    In brief this is what I have learned:

    Russia and China have been buying and storing gold for a number of years now. They store it in their own vaults. Russia is the planet's 3rd largest producer of gold. China is number one. It looks like those two countries saw what misery it was to be locked into western debt and decided years ago to not go down that road.

    So they formed BRICS first to establish an organization that would eventually wean itself off the US dollar. The western banks have been attempting to weaken Brazil in order to weaken BRICS. Not happenin'.

    Now with BRICS settling in they have a mechanism to trade in a currency not dominated by the London banks. Not long ago they announced that trade between Russia, China, other BRICS countries and Iran would be conducted in rubles and the yuan. This signals the big breakaway has started in earnest.

    Russia and China both have central banks that theoretically answer to London. But in reality they control their central banks and do whatever they want to in banking. Now Russia and China both have much more gold than the US does.

    It would not surprise me at all that they will announce a new gold backed currency in the near future. When that happens, game over for the London central banksters. And there is literally nothing they can do to stop it. Where would you rather have your country's money invested? Within a gold backed system or a debt backed system? The US dollar is the world's currency because the debt is supposedly backed up by trade in oil. Oil is the one indispensible commodity underpinning the US dollar. And the London banksters can create much more debt by using a currency not backed by gold.

    So yes, I can see it coming too. And soon. I'm sure that Russia and China would like nothing better than to isolate the US dollar and bring it down. This is the biggest story playing out behind the scenes not being reported that will have a profound effect on us all. The plan has been years in the making and is about to pop. It will be a bumpy ride.

    Forgot to add a big shout out to Michael Rivero and his site What Really Happened. One of the best alternative sites there is.
    Last edited by enigma3; 24th April 2017 at 21:45.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by jonsnow (here)
    Quote Yes - I too have been predicting economic and Dollar monetary collapse of one form or another for perhaps a decade now.


    Have you considered ( Paul ) what would happen if they ever do default or the consequences if America loses the reserve status ( of the dollar ) or dollar collapses completely.

    well there is a saying
    Quote Be careful what you wish for
    . I think chaos would be result in America .
    Catherine Fitts has long been dissagreeing with those who've been shouting about a dollar collapse, prefering to suggest a 'slow burn'. Something must have popped up on her radar recently because she is now saying "all bets are off". That, from her, should ring alarm bells.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by norman (here)
    Quote Posted by jonsnow (here)
    Quote Yes - I too have been predicting economic and Dollar monetary collapse of one form or another for perhaps a decade now.


    Have you considered ( Paul ) what would happen if they ever do default or the consequences if America loses the reserve status ( of the dollar ) or dollar collapses completely.

    well there is a saying
    Quote Be careful what you wish for
    . I think chaos would be result in America .
    Catherine Fitts has long been dissagreeing with those who've been shouting about a dollar collapse, prefering to suggest a 'slow burn'. Something must have popped up on her radar recently because she is now saying "all bets are off". That, from her, should ring alarm bells.
    I did not know Catherine has changed her tune. I've agreed with her for years in her 'slow burn' perspective over the 'collapse' messengers as I've felt that the elites have had so much success in transforming western society from sovereign nations to debt slaves with the slow burn why would they change a strategy that works for them? But if she has now said 'all bets are off' which I take to mean anything could now happen at any time, that scares me.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    enigma3. please consider that these days to have reserve status currency which is the same denominant as you internal currency will lead you nowhere but deindustrialisation. china cannot be that as long term it will be total destruction of their manufacturing potential. also, as end of 19th century shows, gold standard is more of a burden rather than a strength as it limits trade to amount of gold present (plus few more factors). the only solution to all this is the basket of currencies globalists are trying to propose now through emf and all the leaders including xi & putin are supporting it - thats the scary part. they might have to give away their gold (again) to be included into the larger cut where western hegemons would be chipping in with their fictitious fiats.. gold backed central banks are also not the way out unlike goldbugs would have you to believe. not that its silly to have gold though. i still believe that its wise to spread wealth portfolio into several baskets including basic survival infrastructure.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by jonsnow (here)
    Quote Yes - I too have been predicting economic and Dollar monetary collapse of one form or another for perhaps a decade now.


    Have you considered ( Paul ) what would happen if they ever do default or the consequences if America loses the reserve status ( of the dollar ) or dollar collapses completely.

    well there is a saying
    Quote Be careful what you wish for
    . I think chaos would be result in America .
    I have long considered such, yes.

    I have spent the last 10 or 15 years considering what this will mean and preparing for it, yes. I have made massive changes to my life style, moved from a comfortable Silicon Valley life style as an engineer and manager to a trailer in Texas, lowered my cash flow requirements to a tenth of what they were, with the ability to handle further radical cash flow reductions without notice, and eliminated all debt and most financial institution and financial and legal entanglements. I have taken 100% responsibility for my own health, and am now far healthier than I was a decade ago.

    I consider it almost certain that America will lose its reserve currency status and that the US Dollar will collapse substantially in its value in international trade. I fully expect that some serious chaos will ensue, at least what the popular press, both main stream and alternative, will portray as chaos. If ten stories of people working together, and one story of violence or tragedy all occur, guess which one you will most likely see in the headlines, whether on CBS/NBC/CNN, or in the New York Times, or on Drudge, Infowars, Twitter, Facebook, or Youtube. That's not to say that those other ten stories were a cake walk; those people might have been struggling mightly as well. The struggle will be there, either way, and some of it will be tragically chaotic.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by Paul (here)
    ...

    Currently the US Dollar is needed to pay for much of the world's
    • opium based drug trade,
    • petroleum resources,
    • arms (guns and bombs),
    • other traded goods and resouces, and
    • payments on Dollar denominated debt.
    Commentators, including Jim Willie, claim that near run-away "inflation" has been happening because the US Federal Reserve has been buying up many trillions of dollars worth of failed (no one wants to buy) Treasuries, Mortgage Backed Securities (MBS) and such.
    ...

    For another thing, whether or not "inflation" happens is not determined simply by the abundance of money supply, but rather by the relative amount of money supply to money demand, and as one can see from the above list of what the US Dollar is needed for, it's still needed in great quantity.
    ...
    I left off a major "cash sink" from my list, and that is the US stock and markets.

    No doubt great volumes of "foreign capital" (US Dollars held by various people and institutions around the world) are invested in the US stock and bond markets, either directly, or via various funds and financial instruments. These US markets are one of the great places to park cash and potentially make money. That money can go up in smoke rather easily, either spread over time as the usual trading losses, or in more dramatic fashion, with a major stock and/or bond market decline. That money can also be stolen outright, by the financial and political powers that be in New York and Washington, potentially with the assistance of enforcement by the US military, legal, and intelligence powers. (P.S. -- Note also that the US stock and bond markets are no longer fair markets, in which profits and losses are shared equally amongst the legitimate participants. Rather they are highly rigged markets, in which the riggers, presumably agents of some of the elite, gain an unfair advantage and an unfair portion of the profits. Thus is more money sucked out of the US Dollar world monetary system.)

    This additional complex of mechanisms for vacuuming up US Dollars is yet one more way of maintaining the "fluid dynamics" of a debt based monetary system:
    Lend money into existence to most favored borrowers, then suck it back out of existence by such "cash sinks" as listed above, thereby controlling so many involved at each stage, and creating as well many opportunities for "collecting rent", extracting fees, taxes, profits, etc along the way.
    If I manage to convey to a few readers just one idea regarding these economics, I would like that idea to be what I wrote in the previous sentence, just above, about the "fluid dynamics" of a debt based monetary system.

    Control and profit are inextricably entwined. Those making profits must continue to make those profits, to pay their debts and taxes and for their needs and desires; thus the opportunity for profit exerts some control over both parties in the transaction.

    I was reminded of this additional US Dollar sink (the US stock and bond markets) by a quote of some words by Qiao Liang, a highly influential Chinese strategist, in this article: America’s financial war strategy.
    Last edited by Paul; 25th April 2017 at 06:32.
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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    [QUOTE=Paul;1148219]
    Quote Posted by Paul (here)

    I expect that the elite will pump and dump gold and silver, during and following the monetary reset, as part of convincing people that the new "gold backed" world currency system is a sound system. That claim of "gold backing" will be mostly for show however, and a chance for the elite to vacuum up even more of the world's gold and silver, from all those gold bugs and silver stackers who bought expecting to make the profit of a lifetime, and plan eventually to sell, hopefully as close to the top as they can, or more likely in desperation, after the great dumping.
    The problem of the elite is not so much about what form of currency but who is promoting it. The old puppets US British gov. has lost all its credibility. So perhaps a transfer of power is underway. Too bad "Putin is a traitor" george soros.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Last edited by regnak; 25th April 2017 at 13:11.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    So in trying to understand the ramifications of a change in reserve currency for my non-financial brain -

    Let's say it goes to the 'basket of currencies'. I take it our 401Ks and IRAs will need to be converted to the new reserve currency and we will end up with the short end of the stick? How much would someone venture to say we would take a hit for? a third? half the amount one owns? any idea? Would this be a case for owning PM so one could trade gold or silver for the new currency at its market value to alleviate the loss we will incur when we are forced to trade our dollars for the new currency? I haven't been a fan of precious metals but in reading this thread perhaps I've been wrong.

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    Default Re: Advisor to Putin hints at the collapse of the US Dollar

    Quote Posted by Flash (here)
    Today I have been told by a very large corporation exec, at high levels, that they are preparing for a real huge downturn in the economy, I mean preparing in the bolts and knots of daily management through financial crisis, preparing right now. I thanked them for confirming what I had read.

    When large corporations know and are in such readiness, it is coming folks, get prepared as well.

    Paul, it is time right now to tie up all our readings and everything we know for this coming downturn, it is at our doors.
    Flash, was he referring mainly to Canada? I thought of your post yesterday after the lumber tariff decision and then woke up this morning to find the Canadian dollar disown almost a full cent.

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