American financial analyst Jim Willie believes that US pressure on European countries can lead to irreversible consequences. In particular, Germany may well plan to join BRICS.
"The U.S. says Europe has two options. Join us in the war against Russia. Join our sanctions against Russia. Join to constant wars and conflicts, isolation and destruction of your economy," says Willie.
In his opinion, America is now doing everything possible to keep the influence of the dollar in the world, as on this depends the stability of the U.S. economy. Nobody cares what will happen in France or the UK, and focuses on Germany.
Now in Germany there are 3 thousand companies engaged in active business with Russian partners, and they are not going to join the sanctions. About 25 thousand jobs in Germany is under threat, as stated previously, the influential Eastern Committee of German economy (which combines the interests of German companies and businessmen), commenting on statements by EU leaders about new possible tougher sanctions against Russia because of civil war in Ukraine.
"This is a war game and Europe is sick of U.S. war games. Protection of the dollar led to the war against trade," the analyst adds.
The scandals with espionage national security Agency of the USA in Germany can say that America is looking for information on the joint action of Russia and Germany to abandon the dollar.
"I think they're looking for the details of the secret plan of Germany to abandon the dollar and join the BRICS. I think that's exactly what they're going to do," - said Willy.
Jim O'neill, the former head of Goldman Sachs Asset Management, Mohammed El-Ariane, chief economic adviser to Allianz, and Jim Rickards, managing Director of Tangent Capital, consider creating a BRICS Bank is a clear signal of loss of confidence from developing countries to Western financial system headed by the USA.
For greater independence of the Bank and created a pool of reserve currencies. The authorized capital of the development Bank of the BRICS $100 billion and will be designed to support the economies of the group. Half will provide participating countries, half of its future partners. Such would be the desire to join a unit already with Argentina, is not excluded in the future accession of other countries.
A pool of reserve currencies will have the same capital: $100 billion Of which $41 billion would provide China, at $18 billion, Russia, Brazil and India. The remaining $5 billion will provide the Republic of South Africa.
Countries are abandoning the dollar, and recent U.S. actions to stimulate the economy is not so fascinating to many. Foreign investors do not want to buy treasuries because the Central Bank "includes a printing press" for the redemption of this bond.
Quantitative easing lowers your cost structure. It's not stimulation, is the destruction of capital.
According to estimates Willie, about the us recovery talk is meaningless, because if to take into account inflation properly, the rate of decline will be currently around 6-7%. And recovery will not be possible to achieve until the situation with the dollar is not normal, so now the world enters the final phase of the dollar.
And one more thing. The American companies are not going to abandon the lucrative deals and business, despite the sanctions. Exxon Mobil still has projects in the Arctic and in the Crimea, where Russian energy companies.
"We are already seeing energy companies in the US ignore our own sanctions, and yet we pursue French banks for similar action. This is crazy. We lose control," sums up Willy.
Tags: assessment , geopolitics , BRICS , Germany
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