Bob Chapman : A new U.S. Dollar is underway

A NEW DOLLAR? -Bob Chapman

Bob Chapman : …we broke that story two weeks ago , banks are being told , and I get this right from the people who are at the top of the banking profession not with major banks but with top middle sized sized banks and they go to the FED meetings and they tell me what goes on and they told me that the FED told the Banks to clear safe secure storage because we are getting ready to print a new currency. It is a new Dollar, probably different from what you have already. It’s underway. It may not be in the printing stage yet but the plans are there ….because the FED is expecting as is the treasury the the US Dollar is not going to be the reserve currency of the world in about a year and a half may be less ….

The following commentary is extracted from: harveyorgan.blogspot.com
November 15, 2011

 

◄$$$ THE NEW USDOLLAR IS BEING PLANNED. INFORMATION HAS BEEN SHARED WITH LARGE AND MIDSIZED US-BANKS. ITS LAUNCH IS EXPECTED TO OCCUR IN 12 TO 18 MONTHS. EXPECT A LARGE DEVALUATION AND VANISH OF MUCH WEALTH. THE OLD (CURRENT) USDOLLAR WILL NO LONGER SERVE AS GLOBAL RESERVE CURRENCY, NOR THE STANDARD FOR GLOBAL TRADE SETTLEMENT. BOB CHAPMAN REPORTS A NEW USDOLLAR IS UNDERWAY. 

 

$$$Bob Chapman has reported some potentially important news. Whether its timetable is soon or distant, nobody knows since the path traveled is an event driven scenario. He broke the story three weeks ago. He claims to have received the information directly from people at the top of the banking profession, but from the leading mid-sized banks. He does not have a line of information from the top major banks. These mid-sized executive bankers attend meetings directed by the USFed and they pass details to Chapman. He reports,

“The big US banks are being told to clear safe secure storage, because they are getting ready to print a new currency. It is not the Amero. It is a new Dollar, probably different from what you have already. It is underway. It may not be in the printing stage yet, but the plans are there. The USFed is expecting, as is the USDept Treasury, that the USDollar is not going to be the reserve currency of the world in about a year and a half, maybe less.” 

The report is not specific, but the blueprint is clear that a response is planned for the death or rejection of the USDollar. See the Chapman weblog (CLICK HERE).The Jackass reaction follows. Plans are being shared with mid-sized US banks, since they are subservient. They talk to mere mortals like Chapman since they too are mortals, ranking minions in the banking industry. A new USDollar is due to launch in 12 to 18 months, the American response to crisis. A very big devaluation comes in my opinion, complete with nasty price inflation in the domestic USEconomy. Built in will be considerable debt writedowns, perhaps directly applied, probably forceably to the foreign creditors with enormous resentment. Tremendous complications are involved, since the USDollar is used in global contracts and commerce, like trade settlement. The end of the USDollar is near. The beginning of the Third World Dollar is fast approaching. Its birth will be the final cold water in the face of Americans, all too sleepy for years, as they will awaken in horror. They will see their pensions, life savings, and more perhaps cut in half. Ramifications and impact will be broad, as a ticket to Third World will be issued and used without a choice. The initial devaluation might be 30% to 35%, but more loss is assured after time passes.

  My forecast is for a follow-up devaluation of another 15% to 20% after a period of time, like six to nine months. The deficits are too great, for both trade and the government budget. The hemorrhage will deal crippling blows to the new USDollar, which will not be supported by the printing press any longer. If in effect, the new USD will not be readily accepted for trade, since it will be toxic, a true reflection of the horrendous fundamentals for the USEconomy and USGovt. If in effect, financing the USGovt debt will not be easy, since the printing press will be mothballed. The domestic US interest rates will rise past 10% quickly, matching the true rate of price inflation. The price of food will double quickly, gasoline too, and all utilities. The reckoning will result in total 50% USD devaluation down the road 2 or 3 years. The overall impact from birth of a new USDollar is its ticket to the Third World, a tourniquet on the US national neck. Some caution must be given concerning Bob Chapman. He is bold and intrepid, but half of his shocking calls have been nothing more than hot wind that passed to the desert hills. For three years, he has been warning of bank shutdowns and bank holidays. The Jackass has expected them eventually, but Chapman gave at least three such wrong calls. He has been alarmist at times, but his calls are surely contingency plans in the shadowy conference rooms where the elite meet and the security agencies map out logistics. At times Chapman seems to lack some comprehension of practical implications. But he does have some deep sources. The best approach for this information is to plan on it in the future, but that door might not open for some time. The timetable will be dictated by events, which are unquestionably turning more toward chaos and disorder.

Source: http://harveyorgan.blogspot.com/2011/11/italian-bond-yields-surpass-7.html

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