Willem Middelkoop: Yuan Added to SDR and Silver Should Expect to See Shortages (Video/Podcast)
The renminbi was added to the SDR (Special Drawing Rights) basket of currencies on Saturday October 1, 2016. Nothing changed, the dollar didn’t blow apart and the world is still functioning as normal. Why? Because the people, around the world, still accept their currencies issued by the central bank in their respective country. We will not see any changes to the system until the next crisis. The next crisis could come today, tomorrow or fifteen years from now. The next crisis will be slowed, and possibly stopped by central banks around the world “printing” trillions of units of currency. Will the people accept the Federal Reserve “printing” $5 trillion to cover JPMorgan, CITI, Wells Fargo and/or Goldman Sachs? Will the world accept the European Central Bank “printing” another $3 trillion to cover Deutsche Bank, ING and/or the Italian banks? Will the people accept the Bank of Japan “printing” another $5 trillion to monetize everything left in Japan that hasn’t already been monetized?
Until the people stand up and proclaim this to be unacceptable, it will continue. The central banks and the unelected bureaucrats at the World Bank, IMF and BIS are not seeing or hearing any resistance, at all, from the people around the world to any of the money printing that has already occurred and there is no reason to believe the people will not accept another $10, $15, $100 trillion being “printed” at the monopoly money store known as the central bank. Why would they be concerned?
I sat down with author of The Big Reset and a great many other books, Willem Middelkoop. Mr. Middelkoop, a highly respected voice on the SDR topic, gold and the global monetary system, explained how the changes that have taken place will not impact the current status quo for quiet some time. This sentiment is shared among the people that write the policies, institute the changes and determine the fate of our global monetary policy. While there have been several voices stating the contrary, at this time, I tend to agree with Willem’s analysis. Until the masses, around the world, unite and demand change the system will continue to plod along unless Deutsche Bank or one of the other too big to jail banks causes a major upheaval in the “markets”.
Silver has been money longer than gold, it is the people’s money or “poor mans gold”. At this stage in our monetary history it would be difficult for silver to return to playing a role in wide spread use as money, simply because of the bulky nature of silver. Silver is also a strategic asset, which was one the reasons we were given when silver was demonetized by the U.S. in 1964. The industrial uses for silver grow by the day and it is one of the most important “commodities” on the planet. It is used in such a wide variety of products that our world would be completely different without silver. Silver is rarely recycled and that trend will continue unless it recycling it becomes more lucrative.
Willem shares some information you may not be familiar with and he provides an insight that is hard to come by. The Daily Coin is very grateful for his time and willingness to share with you his analysis of our current state of monetary madness.