Germany Secretly Planning On Joining BRICS-Jim Willie

July 23, 2014 10:10am NYSE:DIA

germanyGreg Hunter: Financial newsletter writer Jim Willie says no matter who shot down the Malaysian commercial jet over Ukraine recently, there is going to be massive fallout.


Willie contends, “Here’s the big, big consequence.  The U.S. is basically telling Europe you have two choices here.  Join us with the war against Russia.

Join us with the sanctions against Russia.  Join us in constant war and conflicts, isolation and destruction to your economy and denial of your energy supply and removal of contracts.  Join us with this war and sanctions because we’d really like you to keep the dollar regime going.

They are going to say were tired of the dollar.  We are pushing Germany.  Don’t worry about France, don’t worry about England, worry about Germany.  Germany has 3,000 companies doing active business right now.  They are not going to join the sanctions—period.”

Willie goes on to say, “It’s a war game and Europe is sick of U.S. war games.  The defense of the dollar has come to war versus trade.  Are you with us or are you against us?”  As far as the NSA spying on Germany, Willie says, “I think they are looking for details on assisting Russia on dumping the dollar.  I think they are looking for details for a secret movement for Germany to get away from the dollar and join the BRICS (Brazil, Russia, India, China and South Africa.)  This is exactly what I think they are going to do.”

Willie thinks as countries move away from the U.S. dollar, the money printing (quantitative easing, QE) increases, and the economy gets worse.  Willie calls this a “feedback loop” that he contends, “You get the feedback loop from the damage of lost income that comes from the higher costs that comes from QE.

It’s not stimulus, people.  It’s a back door Wall Street bailout that degrades, deteriorates and damages the economy in a feedback vicious system.

You are seeing the free-fall and acceleration of the damage; and, so now, you get even more cost damage.  QE didn’t happen by accident.  Foreigners didn’t want to buy the Treasuries anymore.  They don’t want to buy a bond where the same central bank is printing money to buy the bond!

QE raises the cost structure and brings about shrinkage and disappearance of profits.  QE is not stimulus.  It’s capital destruction. ”

On the so-called “recovery” the mainstream media has been harping on for years, Willie says, “I believe the U.S. has gone into a recession that it is not going to get out of until the dollar is gone. 

When you factor inflation in properly . . . we got a monster recession of -6% or -7% right now.  I don’t think it will get better until the dollar is disposed of.  So, we’re entering the final phase of the dollar.”

In closing, Willie says, “You want to get rid of political obstacles?  Go straight to commerce and trade.

Why is it that Exxon Mobil is still doing projects in the Artic and still doing projects in the Black Sea, which is Crimea, with the Russians and their energy companies?

We already got the U.S. energy companies defying our own sanctions, and yet we are prosecuting French banks for doing the same thing.  This is insane.  We are losing control.

(There is much, much more in the video interview.)

This article is brought to you courtesy of Greg Hunter from USA Watch Dog.


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