Analyst: World on Verge of U.S. Dollar Collapse
One economist is predicting that U.S. dollar will soon be replaced by another monetary unit as the world’s reserve currency. Could this mean a U.S. dollar collapse is now inevitable?
Famous Dutch economist and hedge fund manager, Willem Middelkoop, predicts that the renminbi will overtake the U.S. dollar to become the dominant world currency. (Source: “Gold – Willem Middelkoop,” YouTube, January 28, 2016.)
In his latest interview, Middelkoop lays out China’s game plan for world domination. Middelkoop says that the Chinese have been pushing the International Monetary Fund (IMF) to adopt a reserve currency other than the U.S. dollar.
China has finally succeeded in getting its official currency included as part of the basket of SDR (special drawing rights) currencies. But Middelkoop says that this move is just the beginning.
“They [the Chinese] are very long-term thinkers. And there’s one special date they are working towards and that’s 2049. You know why? That’s going to be the anniversary of the [Chinese] revolution,” reveals Middelkoop.
The Dutch economist is better known for his book The Big Reset: Gold Wars and the Financial Endgame, in which he predicts a global economic shift that he refers to as the “reset.”
Middelkoop says that to avoid an economic meltdown, world economies must restructure their national debts. In addition, he says the world must look for a monetary anchor other than the U.S. dollar; he hints at gold.
Willem Middelkoop also brings our attention to how China and Russia are quietly amassing massive gold bullion reserves: “China understands there is a financial economic war fought by the U.S. against Russia, and now Russia and China are joining forces,” adds Middelkoop.
Middelkoop mentions that China is non-confrontational, unlike Russia. The Chinese are interested in extending good relations with every trade partner. However, he points out that the growing nexus between the two powers should not go unheeded.
According to Middelkoop, it will take China some time to dethrone the U.S. He reminds listeners that the U.S. had become a large economy back in the late 1800s, but it took 70 years or so for the U.S. dollar to become the world’s reserve currency. However, he adds that the Chinese may have already marked their calendars.
“The Chinese always tell me that these are all the small steps towards our [China’s] broader plan of being in control, being in charge of the world, of having our own system around 2050,” concludes Willem Middelkoop.
And that means a U.S. dollar collapse.