On pillowed ostriches

In this audiovisual interview on the coming collapse of the dollar James Rickards explains the content his book The Death of Money, which I recently read.

Quite a few white nationalists are not only behaving like pillowed ostriches about real economics. They are as irrational about economics as the typical liberal is regarding race, gender and sexual orientation. See for example this article by Greg Johnson published a few months ago. He wrote:

It seems exceedingly unlikely that any country or group of countries can replace the dollar as world reserve currency, even if they wanted to.

Johnson simply ignores that many countries are already bypassing the dollar as their reserve currency.

Last week Johnson wrote another article for Counter-Currents,
“2014: The Year in White Nationalism.”
He shares the “skepticism about Austrian economics-driven dollar doom predictions” but offers no shred of data or arguments whatsoever. Only flat statements, exactly what he does in that same article about energy devolution.

I’ll annotate something when the crash of the dollar steamrolls those nationalists who, behaving like ostriches instead of doing their homework, will be unprepared when it hits the fan.

Published in: on January 6, 2015 at 1:35 pm  Comments (7)  

The death of the dollar

I [Koos Jansen] had the privilege to meet with Jim Rickards, while he was in The Netherlands for one day, to do an interview about his new book The Death of Money. Accompanied by friend (and author of the book The Big Reset) Willem Middelkoop we met at the hotel were Jim was staying and for one and a half hours we fired questions at him. Below you can read the highlights of the conversation:


March 12, 2014

Koos Jansen: Do you think there will be a collapse in the worldwide monetary system, including chaos, social unrest and bank failures because all policy makers will do too little too late?

Jim Rickards: My new book, The Death of Money, is about the demise of the dollar. A world wide monetary collapse and the collapse of the dollar are the same thing. The dollar is the keystone of the system today, if the world loses confidence in the dollar the whole system collapses. Could there be disruptions, social unrest and other problems before the monetary system collapses? I think we’re seeing them already, in the Ukraine, in the Crimea and the Chinese navy sending vessels to these islands they are in disputes with near Japan. US monetary policy was also a contributing factor to protests in the Arab Spring’s early stages. We’re seeing signs happening already and that will continue.

I do expect that policy makers will continue to pursue the wrong policies, they won’t make the structural adjustments that are needed; unemployment remains high, growth remains weak and deflation continues to have us in its grip. These are all things that will lead to social instability, income and wealth inequality and we could see a lot of stresses before the collapse of the monetary system.

Central banks and governments have made it clear that the big banks can’t fail. That’s what they stated, all these too big to fail banks will not be allowed to fail. Now what are the consequences once they’ve said that? It invites reckless, parasitic and exploitative behaviour on behalf of the bankers. This allows them to grow too large which destabilizes the system. I don’t think we’ll see big bank failures along the way, but big banks will fail as part of the collapse. It’s the policy of too big to fail that leads to the dysfunction of the system that will lead to the collapse.


Koos Jansen: Will the coming collapse of the monetary system be more severe than any prior one?

Jim Rickards: The point I’m making in the book is that the international monetary system has collapsed three times in the last one hundred year. In 1914, 1939 and 1971. So it does happen, it’s not that unusual. When it happens is not the end of the world. What it means is that the major trading powers, the financial powers, come together and reset the system. There is actually a name for this, it’s “the rules of the game”. That’s not a phrase I made up, it goes back one hundred years. So the major powers will rewrite the rules of the game, but here’s the problem. The last crisis we had the Fed reliquify the world. There were tens of trillions of dollars in swap lines with the ECB, they guaranteed all the bank deposits in the US and they guaranteed all the money market funds in the US. It did prevent things from getting worse, but the problem is the Fed raised their own balance from $800 billion to $4 trillion after the liquidity crisis. We had a liquidity crisis in late 2008, but we haven’t had one in the last five years. So now what happens if we have a liquidity crisis tomorrow? They’ve got no more dry powder; they can’t go to $12 trillion.

The next crisis will be bigger than the last one, and it will be bigger than the Fed because they already trashed their own balance sheet. Then the only balance sheet left is the IMF’s.

Koos Jansen: How will the power be distributed in Asia after the monetary reset?

Jim Rickards: It will be based on gold.

Willem Middelkoop: I know wealthy Americans taking measures like getting a second passport and moving their money offshore. Do you see this happening in your surroundings?

Jim Rickards: Yes, I see it all the time. There are billionaires who build vaults in their own houses because they don’t trust Brinks.

Willem Middelkoop: What does that tell you?

Jim Rickards: It tells me that they see what I see, in some ways, but not willing to talk about it. They’re ready for the collapse but want to milk the system in the meantime.



For Rickards’ CV see here. The whole interview can be read here.

Published in: on May 9, 2014 at 11:36 am  Comments (16)  

Germany: be warned!

Denise, one of the commenters at Occidental Dissent today, addressing another commenter said:

Dammler: Jews created World War II. They created that mess. Hitler tried to prevent Jews doing to Germany what they did to Russia. Screw off. The problem with Adolf and the National Socialists is that they were too liberal. When one pulls up the rock on the real history of the kikenvermin one marvels at the fact that they weren’t all hunted down and killed off completely.

My sister and I were discussing this error of judgment at Easter Dinner. I’ve concluded that Jews escaped their well-deserved fate because we did not possess mass communications before. The Juden Tuefel would go to one place—wreck that, get the boot, then go somewhere else. The new Host knew nothing about what happened in “the last place.” The whole effing world is pretty much on to the Hebes, now. America is the Last Bastion of Cluelessness—but that miasma is rapidly dwindling. As the economy implodes, due the systematic, eternal malevolent machination of the Spawn of Satan, I see more and more folks wising up. When the USA is Cypressed hell will breaketh loose, and the Spawn of Satan will be sent back to their Daddy in Hell. Expulsion #110 will be global, and final—and they’ve brought it all on themselves.

Can’t wait. I’m stocking up on lots of popcorn.

Ditto: sooner or later the USA will get Cypressed. Those who have been following the entries of this blog under the category “currency crash” know that there is no question that the dollar will collapse and probably hyperinflate.

Germany: pay attention please!

Most of the thousands of tonnes of your gold in the Federal Reserve Bank of New York, located beside the gold that belongs to other countries, should be instead in Frankfurt or Berlin.

RickardsThe economist James Rickards has been predicting for some time that, after the dollar hyperinflates, the thousands of tonnes of gold in New York will be confiscated from the Europeans, Japanese and the IMF by the US government: a nation that already is the main perpetrator of the crime of the century when we were born.

If the dollar crashes under the watch of Ben Bernanke, and some Austrian economists are predicting that it will crash under this Obama administration, the US government will probably combine all of its gold with the confiscated gold of the nations that naively deposited it overseas and have 17,000 tonnes or upwards of 20,000 tonnes: 70 percent of all the official gold in the world.

Federal-Reserve-Bank-of-New-YorkThat would be enough to “reboot” the crashed economic system after the dollar hyperinflates! To boot, with that amount of gold the nation that led the crime of the century will be able to continue to dictate the international monetary system along with still more Americanism: exactly the sort of Yankee Americanism that has been leading the white race to extinction throughout the western world!

I would recommend Germany and other countries to withdraw all of your gold reservoirs from Yankeedom, exactly what Hugo Chávez did before he died.

Take heed, you have been warned…

Ex Gladio Libertas!
68 Anno Hitleris