Two shocking developments in the world of finance were reported which spell doom for the US dollar, long the only acceptable reserve currency established by the Bretton Woods Agreement of 1944.
Jim Willie, editor of the Hat Trick Letter, recently disclosed 2 nearly unimaginable situations involving the United States which have emerged over the past 2 years.
The first event is based upon numerous reports Willie has received from his extensive network of subscribers who have told him that the only way that the United States can keep its navy fleet in the Persian Gulf is by paying for fuel in silver. This may help explain why JPMorgan Chase has become a huge buyer of silver. Without silver payments, the Gulf States will not sell fuel to the US Navy.
This story is somewhat at odds with another story reported by Willie which claimed that the US Navy had evacuated the Persian Gulf in the wake of the Russian long range cruise missile attacks on US ISIL/ISIS forces in Syria. So either the Navy is still in the Persian gulf and paying for fuel in silver, or it has evacuated. Perhaps the silver demand precipitated the navy's evacuation.
If the US Navy has been required to pay for fuel with silver, it represents the re-monetization of silver.
The second huge announcement concerns the dumping of US Treasuries by central banks at a discount of 30% over past 1-2 years. It is utterly unthinkable to the average American that US debt would be discarded as junk bonds and done so quite desperately.
In a closely related report, Willie also noted that foreign exporters - particularly China - have refused to accept US dollars as payment for goods. Consequently trade has plunged as reflected in the Baltic Dry Index. It also may explain why shelves are bare in some stores.
We believe that these reports are reasonable leads for additional investigation. If true, they spell the imminent collapse of dollar and complete pauperization of the US.
Jim Willie, Interview, Liberty and Finance, May 3, 2016, accessed 5/5/2016
Copyright 2016 Tony Bonn. All rights reserved.