Jim Willie: The Russians are returning the world to a gold standard for trade settlement (Good-bye, petrodollar)
September 1, 2013 by History in a Hurry
Jim Willie on the end of the petrodollar and the forthcoming economic chaos in America
Here is an interesting, wide-ranging interview with Dr. Jim Willie of Golden Jackass.com, conducted by Greg Hunter of USAWatchdog.com. Willie says that the United States’ petrodollar global reserve currency status is about to end, because the BRICS nations (Brazil, Russia, India, China and South Africa) have established a new system for trade settlement. It’s based on gold instead of the dollar. In the last 10 minutes, Willie explains the likely effects on America: price inflation and shortages of goods.