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Koos Jansen interviews Willem Middelkoop about dollar imperialism
11:36p ET Tuesday, December 15, 2015
Dear Friend of GATA and Gold:
Financial journalist and fund manager Willem Middelkoop, interviewed by gold researcher and GATA consultant Koos Jansen, tonight explains, as GATA long has tried to explain, how control of the currency markets and particularly the world reserve currency remains the primary mechanism of imperialism.
"Because it can print the world currency," Middelkoop says, "the United States can buy anything it wishes without having to worry about its liabilities. ... By 'obliging' foreign central banks to keep their monetary reserves in Treasury bonds, the United States in fact forced them to finance U.S. military spending abroad, as Michael Hudson explains in his book 'Super Imperialism.'
"In this new form of imperialism, the United States is able to rule not through its position as world creditor but as world debtor. ... A Chinese market commentator remarked: 'World trade is now a game in which the United States produces dollars and the rest of the world produces things that dollars can buy ... a dollar hegemony that forces the world to export not only goods but also dollar earnings from trade to the United States. ... Everyone accepts dollars because dollars can buy oil.'
"Only when dollar-holding nations decide to buy natural resources instead of U.S. Treasuries is the dollar's reserve currency status in danger. This is exactly the exit strategy China and Russia seem to be playing right now."
Jansen's interview with Middelkoop is headlined "Interview with Willem Middelkoop about the Big Reset" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/koos-jansen/interview-willem-middelkoo...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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