CHINA DELAYING FULL RMB CONVERTIBILITY MOVE – Insider email from Jim Willie

From Perpetual Assets

The below transcript is one I received in an email this morning from Jim Willie, editor of The Hat Trick Letter. With his permission I am sharing. I believe Jim to be one of the most relevant sources of our time. He has had a stellar track record over the last decade with his predictions. To say the least, he is in the know.

DELAY, INTRIGUE, DESPERATION
comment from the Voice at end (worth reading first)
/ JW

from London Paul, via Chinese source…

“Beijing is quietly pushing back its loose timetable to make the Yuan freely convertible, policy insiders say, as the authorities fear removing capital controls too soon could unleash damaging speculative flows that will make it harder to reshape the economy. The source in China suggested the belief now was it was years off for full convertibility.”

Jim:
everything is so difficult on implementing non-USD devices and platforms
risk, complexity, unintended consequences — all big factors
then East will go to more Euro-Yuan-Ruble usage and work directly toward BRICS currency
wondering if Voz will respond that the March 2015 timetable for BRICS gold currency will be delayed
more time for the cancer stick USD
the issue comes back to the fact that the longer the Western financial insanity carries on, the longer the hyper monetary inflation carries on, the longer war is used to defend the USD, the worse the potential blowback will be, the worse the impact crater will be, both to the bank system from derivatives and to the economy from QE capital hits

Paul:
the longer they hold off on implementing the USD alternative, the harder it will be to enforce change and the more risk there will be that they will all be taken down, East included. This is the achilles heel of Putin/Xi/BRICS
default is a sound strategy provided they can mitigate to a sensible level the risks to their own nationsJim:
some believe that if this drags on another couple years there is a risk that the fascist bankers will prevail because BRICS will lose its appeal, and direct implementation of alternatives will be far too difficult.
the Jackass disagrees
the longer they wait, the more widespread the non-USD trade settlement and banking reserves will occur
thus the more damage from USFed QE as well as BOE QE and EuroCB QE, the damage to their economies
the forced agent is the implosion of banking system from rapidly accelerating economic decay, alongside severely ramped up QE volume with corresponding capital damage
the key is capital destruction, since it acts as fuse to the existing system, forcing the bankers to vastly increase QE volume, thus creating a monetary black hole
Putin will wait for Ukraine and parts of Europe to collapse, the line of fire being banks
key is Germany, which internally has begun to duke it out

The Voice:
..the Chinese are going to wait for the collapse of the US$.
why rush things if all is coming to you by default

3 comments to CHINA DELAYING FULL RMB CONVERTIBILITY MOVE – Insider email from Jim Willie

  • John

    This gibberish about how China is going be the next world power needs to stop.

    Jim Willie needs to go to China for some fact finding quests instead of using cooked numbers to back up his unreal theories. Or his sources to get himself relevant again into the news.

    The country is full of self centered elitists buying gold not to get away from debasement of devaluing of the dollar, but to show off their wealth.

    They have no idea how the FED works, at all. That goes for the rest of the country. They buy gold to show off.

    This Willie is about as useless as you can get.

  • From Australia

    IN REPLY TO JOHN: It’s not gibberish, its fact mate! Get your head out of the bucket! Even in Australia we understand the blatent abuse of the reserve currency that’s taking place, as it affects our currency tremendously, and I would rather Australai move the Yuan or Ruble anyday, then stick with the stinking dollar!

  • silverbullet1976

    I agree Australia, Im Canadian and I’m fed up with the fed. It needs to go, I do business over seas and am tired of donating hard earned cash to the USA to use their currency in over seas transactions.Im tired of funding the war machine.
    The fed tips the advantage to USA by controlling the worlds money supply and the only people that benefit are the Big Banks and the US Government.
    The rest of the world has to deal with it, enough is enough.

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