Dr. Jim Willie: Bank Runs Are Coming to America Very Soon (Video)

Monday, August 15, 2016
By Paul Martin


In the following interview, Elijah Johnson from Finance and Liberty once again has Dr. Jim Willie on the show to discuss all the things currently happening in global economic markets, and what it all means for U.S. investors. To begin the interview, Dr. Willie was asked what he thinks will happen if the negative interest rates currently in Europe find their way to banks here in the U.S.

Dr. Willie explains that such a move would undoubtedly trigger a run on U.S. banks. After all, in a market that is already as uncertain as the one we’re in, why would anyone be willing to pay to keep their assets on deposit somewhere? If anything, negative interest rates could force a run on gold and silver, because it would be all hands on deck to get accounts out of anything denominated in U.S. Dollars and convert them into another reliable asset as quickly as possible.

In a bit of somewhat optimistic news, Dr. Willie also talks about what is most likely to happen to the U.S. Dollar as the World’s Reserve Currency once the Yuan is adopted as part of the IMF’s Special Drawing Rights (SDR’s). Over the last decade, global trade denominated in U.S. Dollars has been cut almost in half, down from about 75% of all trade settling in U.S. Dollars ten years ago, to a approximately 35% of all trade settled in U.S. Dollars today.

For some time, many economists have believed that any addition of China’s currency to SDR’s would come at an expense to the U.S. Dollar’s percentage of the mixed basket, however Dr. Willie gives hope that the Dollar’s last gasp won’t immediately follow. Enjoy! After the interview is an article from the New York Times discussing the impact negative interest rates have had in Europe.

The Rest…HERE

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