Skip to content
Socio-Economics History Blog

Socio-Economics History Blog

  • About

Socio-Economics History Blog

Socio-Economics History Blog

James Turk: Dollar Will Eventually Go Over the Cliff!

November 13, 2014 by mosesman

[youtube=https://www.youtube.com/watch?v=FSo1gVYUk8Q]

  • James Turk: Dollar Will Eventually Go Over the Cliff! 
    by Greg Hunter’s USAWatchdog.com 
    Gold expert James Turk says the U.S. dollar is not going to stay strong. Turk contends, “Canada, one of the closest allies of America, just announced a Chinese trade arrangement to deal in Chinese yuan with Canadian dollars.  That bypasses the U.S. dollar.  So, the outlook for the U.S. dollar is not good, despite this temporary strength that we are seeing now. It’s not good and, to me, the writing is on the wall for the dollar.”
    –
    Turk goes on to say, “What the U.S. government will do, though, is everything in its power to protect the dollar’s position, and that means more capital controls.  There are already capital controls in place.  It’s almost impossible for a U.S. citizen to come over here in Europe and open a bank account.  They just don’t want to deal with U.S. citizens anymore.  Another type of capital control is that $16 trillion sitting outside the United States cannot come back and be spent in the United States.  If that were to happen, all those dollars overseas would fall to a steep discount to the domestic dollar because they would not have the same usefulness if they can’t be spent in the United States.”  But wouldn’t that be a default that would crush the U.S. dollar?  Turk explains, “It wouldn’t crush the domestic dollar.  It would crush the international dollar relative to the domestic dollar.  The domestic dollar will be inflated away in any case over the longer run.  The immediate impact would be on dollars outside the U.S. and, yes, that is a default.”

    –
    How long can this go on? Turk takes us back 100 years to the start of the Federal Reserve and says, “What the government is supposed to do is maintain stability and purchasing power of the dollar.  Today, the dollar purchases one penny of what a dollar in 1913 purchased.  That’s how bad the inflation has been.  That big picture thinking is important because we’ve had inflation and debasement of the dollar for 100 years.  People say it’s been 100 years.  Why couldn’t it go another 100 years?  Well, if you look at the Roman Empire, for example, it debased the denarius for 100 years until the denarius fell off the end of the table.  Just because that trend has been in place, it is not going to continue forever.  The key here is the amount of debt we have in the system and the amount of money the politicians are spending.  The reason why we have not had hyperinflation is the U.S. government has managed to keep its debts lower than they should be because the interest rates are zero. . . . We’re walking on a tight rope here, and it could go either way.  To me, we are looking at more currency debasement here . . .”
    –
    read more!

end

Post navigation

Previous Post:

US Drone Attacks Kill Over a Dozen in Afghanistan, Yemen!

Next Post:

U.S. Combat Veterans Sue Gangster Banks for Aiding Terrorists!

One comment

  1. algistd says:
    November 13, 2014 at 1:02 pm

    Reblogged this on Help save our kids future.

Comments are closed.

Pages

  • About

Recent Posts

  • “We Are In WW3”: The Shocking Truth About US Proxy Warfare in the Middle East and Ukraine
  • WEF Just Issued Their Biggest CRISIS Warning Yet | Redacted with Clayton Morris
  • Clayton Morris: Why Is Our Power Grid Under Attack?
  • ‘We Have Something to Answer With’: Putin’s Chilling Nuclear Threat to West Over Ukraine Tanks?
  • Gold, Silver And the Big Economic Reset with Maneco64, Lynette Zang, And Ed Steer
  • Michael Khoury: A Cyber False Flag Attack Is Imminent!!
  • MSNBC Anchor Hospitalized With Severe Myocarditis, Pericarditis
  • COVID Propaganda Collapsing as Myocarditis Cases Rise
  • Is Orchestrated Cyber Attack Coming?
  • Situation Update, Feb 2, 2023: An Online AI System CLONED My Voice! (And Can Clone Yours Too…)
  • MORE Fibrous Clots Being Pulled From Vwaxced DEAD As Embalmers Sound Alarm
  • CrossTalk: Ex-Freemason SPEAKS Out About Satanic Agenda to Deceive Christians
  • Chinese Military Announces YJ-21 Mach 10 Missile Abilities in Social Media Post Read as Warning to US Amid Tension in Taiwan Strait
  • Pfizer CEO Made ‘Misleading’ Statements on Vaccinating Children Against COVID-19: UK Watchdog
  • Warning Issued for Petrodollar
  • WARNINGS Chemical Attack TRUTH is Coming Out in Syria, the Deep State is Mad | Redacted News
  • Middle East Escalation: What Next After Iran Blames Israel for Drone Strike? • FRANCE 24 English
  • Financial Repression Will Dispossess the Masses
  • Why the End of the Petrodollar Spells Trouble for the US Regime
  • Latin America’s New ‘Sur’ Currency Bloc: Regional Integration vs. the Weaponized Dollar

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011

Categories

  • Disaster
  • Economics
  • Endtimes
  • Geo-Politics
  • History
  • Medicine & Health
  • Satire
  • Science & Technology
  • Social Trends
  • Uncategorized

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org
November 2014
M T W T F S S
« Oct   Dec »
 12
3456789
10111213141516
17181920212223
24252627282930
© 2023 Socio-Economics History Blog | WordPress Theme by Superbthemes