So, the supposition is that this now will, what was largely talk and plans has now been launched and it will move forward and other countries will get in on it. And as the use of the dollar declines, the demand for the dollar in exchange markets, foreign exchange markets, will decline and therefore the exchange value of the dollar to other currencies will decline and Washington then will have a major problem of inflation because if your currency drops in exchange value all your imports rise in price and the American people are already hard pressed.
If they find, all of a sudden, that there is a huge jump in the prices of all the imported goods, we're now heavily in an import dependent country. We owe this to jobs offshoring, or free trade, as it's called, sometimes.
So that shows that the hubris and arrogance in Washington, determined to inflict damage on Russia, did not realize that the real damage is going to be on Washington because if you drive [out] a major country, or now two major countries, in fact the BRICS, the five countries that make up the BRICS account for one half of the world's total population-- so, they're removed from the dollar payment system. Who is hurt? Washington.
It's a crushing blow that that idiot in the White House has brought on the country by threatening Russia with sanctions. So that shows how smart people are in Washington. It shows how hubris and arrogance destroys the ability to think.
R.K.: Alright. Now, I want to continue and do a station ID. This is the Rob Kall Bottom Up Radio Show, WNJC 1360 AM. Reaching Metro Philly and South Jersey. Sponsored by opednews.com. If you jumped in in the middle of this conversation you can go to opednews.com/podcasts or to iTunes and by late tonight the full interview will be up and downloadable for free.
So, Paul, we've been talking about what's going on with Russia and Ukraine and the Russians and the BRICS's efforts to shift the currency of the world from the dollar to other things.
You've just talked about how stupid they are in Washington. You know, I used to-- to me, saying they're stupid is cutting them slack. Saying they're stupid or they make mistakes, or it's the other guy's fault. I really believe that they're doing what they want to do. Is it stupid if they're doing what they want to do and their intention is to do that? The question is, who are they serving and why are they doing it? Because, do you really think they're stupid?
PCR: Yes. I think they're stupid because if you drive the world away from your currency as the world reserve currency, you simply decimated your own power.
R.K.: But who benefits from that? Cui bono?
PCR: Well, Washington doesn't and Washington is the one that is threatening the sanctions.
R.K.: Then who does benefit?
PCR: The rest of the world. Because they get out from under American financial control. And of course, if the dollar goes, as reserve currency, there also goes the IMF and the IMF is the main instrument that the Western bankers use to loot other countries. So they're going to loot the Ukraine. The IMF deal is already set. Ukraine will be bled dry. If the dollar goes, the IMF goes, the world bank goes. All the looting mechanisms that the West has used historically to steal the resources and impose poverty in other countries, they're gone with the dollar.
R.K.: Well wait, because I just, I don't want to give up on this. It seems to me, things happen in Washington for a reason. If they're giving it up then I refuse--
PCR: They don't know they're giving it up. They thought how when we're so powerful and we're so arrogant, just like Hitler marching off into the Soviet Union. About the stupidest thing anybody could have done. It destroyed him. If he hadn't done that, Germany would be ruling all of Europe, England, North Africa, the Middle East.
R.K.: I think that Obama does what he is told. I mean, do the neocons think this? The neocons, as you said, are like the Nazis in their hubris. But, corporations have a huge influence on Washington. How do they stand to fare in terms of this change from the dollar to the euro or the renminbi or whatever?
PCR: They lost their financial hegemony and they lose the power to loot. So the reason this is a mistake, a stupid mistake, is that it was done just to assert power and they didn't think about the unintended consequences of threatening Russia with sanctions because it didn't occur to them that Russia doesn't need to be in the dollar system at all.
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