- Ex-White House Official Warns Ukraine Chaos To Engulf World!
Today King World News interviewed the former White House official who was Special Assistant to the President of the United States for Economic Policy and a former member of the U.S. President’s Working Group on Financial Markets, also known as the Plunge Protection Team, or PPT. While in the White House, Dr. Philippa “Pippa” Malmgren served as financial market advisor in the White House and functioned as the direct liaison between the White House and the Federal Reserve.
Dr. Malmgren formerly headed the Global Asset Management business for Bankers Trust in Asia, out of Hong Kong, and was also Chief Currency Strategist for Bankers Trust Company, and former Head of Global Investment Strategy at UBS. Dr. Malmgren was also a senior consultant to Deutsche Bank, and currently advises the largest sovereign wealth funds, hedge funds, and pension funds in the world.
Eric King: “The belief that is out there is that they (the Chinese) are positioning themselves to have the yuan replace the dollar, or create at least an alternative to the U.S. dollar supremacy as the world’s reserve currency.”
Dr. Malmgren: “After events in Ukraine, the Russians also feel very strongly (about unseating the dollar). I think what we are going to find is that both China and Russia have entirely ceased to be buyers of U.S. Treasuries….