Guest Post by Ron Paul
President Biden recently raised taxes on American consumers and businesses and may have hastened the end of the dollar’s world reserve currency status. President Biden did this by increasing tariffs on Chinese imports.
Specifically, President Biden raised tariffs on products including Chinese-produced steel and aluminum and many components imported from China for use in manufacturing electric vehicle batteries. Tariffs on Chinese-made semiconductors are rising from 25 to 50 percent while tariffs on Chinese-made electronic vehicles are rising from 25 percent to an astounding 100 percent.
Of course, the costs of these tariffs will be borne by Americans wishing to purchase electric cars and American electric car manufacturers that use material imported from China. These new tariffs thus undercut Biden’s goal of getting more Americans to drive electric cars.
The tariffs on Chinese goods give China even greater Inventive to challenge the dollar’s world reserve currency status. The same week Biden imposed these tariffs, China President Xi Jinping and Russian President Vladimir Putin announced they were strengthening their alliance in order to better challenge US military and economic hegemony. This is a reaction to US foreign policy of the post-Cold War era which has reversed the Richard Nixon-Henry Kissinger strategy of pursuing good relations with China.
A part of the announcement recognized use of the Chinese yuan and Russian ruble for over 90 percent of the trade between the two countries. This is only the latest challenge to the dollar’s world reserve currency status. China’s share of the global economy has more than doubled in the last twenty years from 8.9 percent to 18.5 percent while the US share of the global economy has fallen from 20.1 percent to 15.5 percent. China’s rise is one reason why the US currency held by foreign central banks has dropped from over 70 percent in the early 2000s to under 60 percent today.
Last year, China and Saudi Arabia agreed to expand their use of their own currencies in trade between the two countries. This is the first time the Saudis have agreed to use a currency other than the dollar for the oil trade since Henry Kissinger negotiated a deal where the Saudis would trade exclusively in dollars in return for US support for the Saudi regime. The “petrodollar” is a major reason why the dollar retained the world reserve currency status after President Nixon severed the last link between the dollar and gold.
If the dollar loses its world reserve currency status, the US government would lose the ability to “weaponize the dollar.” Other countries would then have less incentive to abide by US demands, including related to regime changes. It would also reduce other countries’ interest in purchasing US debt instruments. This would increase pressure on the Federal Reserve to monetize the debt, creating more price inflation and leading to a major economic crisis. This will not just end the US military and financial empire abroad. It will also end the welfare state at home.
Since both major presidential candidates and most Congress members are not serious about making the changes in foreign, domestic, and monetary policy necessary to avoid the crisis, America will likely face hard times in the near future. However, the end result may be a return to limited, constitutional government and a political class that realizes that Ronald Regan was correct when he told me that no nation has ever abandoned gold and remained great.
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Another article about the obvious? Our nation and economy are being systematically destroyed by design. I believe everything happening is controlled by a DARPA AI algorithm designed by a Satanic Globalist cabal and executed by criminally traitorous American Communist Intelligence agencies. I may be called a conspiracy theorist but that can’t explain our current national and world leaders and the world events that defy description and are cascading towards an apocalyptic end.
95% of Americans don’t see, don’t understand, or refuse to see the obvious. Ron Paul didn’t this post for TBP readers (admin posted it here). Not that liberal news media consumers will ever read about or hear what he has to say, yet at least he tries.
Biden didn’t do shit…they are getting ready to flip the table COMPLETELY over cuz the bio weapon jab’s genocide is becoming so obvious even the normie sheeple oblivious are catching on the world has been poisoned (and they have ticking time bombs coursing) with the needle rides, Chemtrails, GMO franken food, Great Taking set up, etc….and the Luciferians have taken their masks off while forcing the oblivious to put masks on.
NEXT 6 MONTHS COMPLETELY INSANE – BILL HOLTER
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Back in August of 2023, precious metals expert and financial writer Bill Holter predicted there was a long list of financial trouble coming to America. A short list of problems is the commercial real estate implosion, CV19 vax injuries and deaths, deposits leaving the banking system and war all coming to a head between now and the 2024 Election. Holter starts with the CV19 bioweapon vax, “It turns out it was a kill shot. I guess you can say it adds to the timeline where they have to kick the table over because . . . they are going to have to hide that. That has to become back burner. Once you get a majority that is awake to that, you are going to have people pissed off all over the world. This is an election year, and I think the next six months are going to be completely insane. The deaths are increasing, and the knowledge that the (CV19) vaccine is the cause is spreading. They are going to have to bring something up to put that on the back burner, and that is probably WWIII.”
Holter goes on to add, “We have an election coming up, and I still believe there is less than a 40% chance that we even have an election. From a financial standpoint, you have commercial real estate that is imploding. You have bank deposits that have fled the banking system. You have the financial system really on the rocks. . . . Somebody had better start cutting rates because just in the past six months, China’s debt growth has turned negative, and so has their money supply. That is a recipe for complete disaster in an over-leveraged system. It’s not just China, it’s the whole world. The whole system is over-levered. Somebody had better cut rates to inflate; otherwise, Richard Russell’s ‘Inflate or Die’ comes into play.”
It seems the Fed is freaking out over interest rates. The Fed is not talking about cutting, it’s talking about raising rates in its last meeting. What’s going on with the Fed? Holter says, “They are fearful of a fiat collapse. They will more than likely cut rates, and then $15 a gallon gasoline and $25 for a cup of coffee is going to become a reality. In the intermediate to long term, interest rates are going to explode. . . . Interest rates need to be much higher to support fiat currency.”
Holter also predicts that gold and silver have already broken out to the upside and will be going much higher in price. Holter is especially bullish on silver after it broke through $30 an ounce, which it has not done for a decade. Holter says, “I think silver is more important than gold because silver is the fuse for gold. Silver is a tiny market compared to gold. The gold market is 10 times bigger. . . .They are losing control of silver . . . . If they want to keep gold under control, they better keep silver under control. The Achillies heel to all fiat currencies is gold. Again, if they want to keep gold under control they damn well better keep silver under control because silver is the fuse to the gold market.”
I suspect even some of the most disinclined here on TBP are beginning to see the effects. Clif High had previously targeted late summer for it to become undeniable.
I have had a number of conversations with the willingly jabbed about those we know who died suddenly and you can see the fear in their eyes.
When I start telling them how to detox from mRNA and Graphine Oxide (Ivermectin & Zeolite for starters) most are completely clueless, but some have taken steps.
Have a friend with a 40 something daughter suffering greatly with long Covid…she goes to a long covid treatment group…but gets no detox! Suffers from super brain fog and zero energy, can’t even clean her house…stays in bed, a completely brainwashed Covidian…she wouldn’t take Ivermectin but he did get her to take C-60…and she got an immediate energy boost. Then his other two triple jabbed adult children saw the improvement in her and asked their Father for some C-60 as well. He is a pure blood…and is slowing waking them up…all three are brainwashed liberals.
However none will take anymore jabs, and he is giving them detox research I have sent him.
The backlash is building…and TLPTB know it…table flipping time has to happen before the back-lashing reaches critical mass.
One of the places I visit regularly is Naked Capitalism, a site mostly populated by cosmopolitan/beltway types. Mostly to see what they are looking at (from their links), but also to see if there is any change in attitude about the vax. So far, it’s still all “covid/long-covid is causing all the health problems.” and “That’s why masking is so important.”
Example from yesterday:
I suspect some people, especially if they have any responsiblity for pushing the narrative, will “cling bitterly” (quoting to return the favor) to their masks and lysol sprays.
I said this when Trump put tariffs on. It was a good idea forty years ago to protect our critical industries, but it’s to late now, our manufacturing industries have already been decimated. Especially critical industries like health, military hardware and now computer chips.
We’re a service industry now!
Better learn to code!
People need a basic universal income because robots will replace us all!
That’s progress folks
Yep , it’s not the days of Calvin Coolidge. Trump’s head is too far stuck where the sun don’t shine to know anything.
Nixon said, “I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States.”
Ron Paul: Ronald Regan was correct when he told me that no nation has ever abandoned gold and remained great.
And here we are, FIFTY THREE YEARS LATER, with a clown that failed miserably at Making America Great Again (I know, I know…, maybe this time around!); let alone Biden.
Since Regan KNEW the U.S. could not remain ‘great’ without the gold standard, why didn’t he restore what Nixon had destroyed while he had the power?!
And when has Trump (MAGA) ever considered or discussed lifting this 53 year old “temporary” act that put a dagger through the heart of America?
Credit worthiness of the issuing government? Seriously?! Our fiat paper dollars are ‘purchased’ from the Federal Reserve. They don’t even belong to the American government. It is impossible to repay the debt with this ponzi scheme and it’s impossible to retain the value of our earned labor.
I understand that I’m preaching to the choir.
FIFTY THREE YEARS LATER… just like transitory inflation!
As some folks stated weeks ago when this ‘news’ was first announced, a lot of this stuff is going to be built in mexico in chinese factories … then exported to the United States.
Under the ‘new-NAFTA’ that was signed a few years ago, there will be no tariffs applicable to these goods since they will be ‘manufactured’ in North America …
Cheap labor, coal burning China, if allowed to sell $12,000 EVs here, many jobs and much GDP will disappear
“Sheinbaum, 61, is poised to make history as Mexico’s first female president and first Jewish head of state. Polls a week before Mexico’s election show her enjoying a wide lead over the next candidate, the conservative entrepreneur Xóchitl Gálvez. She has an impressive résumé, with a PhD in environmental engineering and a term as Mexico City mayor.”
God they’re everywhere….
Environmental Engineering – Isn’t that what I see coming out of the jets all day long?
Good news for Team Biden, as a block of 2,000 newly minted Democrat voters arrived directly from Papua, New Guinea this week.
A vote for Joe Biden, is a vote for.. … ..you know…. … .. … the thing.
Biden has the most Jewish government since either the Bolshevik revolution or the 2nd temple, I am not sure which. I am sure Trump will have more Jewish under-secretaries running the show than Jewish secretaries, like Biden has running the show.
Forgive me for asking the stupid question: Where does this tarriff $$$ go? I’m assuming the US.gov. Which, isn’t that just another tax?
But isn’t this hugely inflationary (regardless of where it ends up)?
Also related, what happens with sanctioned goods? Isn’t that an outgoing tax to our enemies?
It only hurts us at this point. Americans are forced to pay more for goods as the exporters raise their prices to cover their losses. From what I understand, yes, the “government” receives the benefit. Think it’s shared with us? ha!
I’m not any expert on this but your questions were my questions and from doing a little research, it appears it’s not a positive for we consumers. I’m sure someone will follow up after my response and tell me how stupid I am. Fine then, please!, educate us if anyone really understands how it works! I’m all ears.
Let me see if I understand. I will use Li-Ion cells as an example (since I’m fairly certain there’s one on those).
Raising prices on cheap Chinese cells only makes the higher quality cells coming out of.JP/.SK more competitive. Short of paying those foreign companies to build them here, I don’t see this as a big enough offset to start production here (we don’t have the skills).
Having to pay these higher overall battery costs, likely a sizeable part of why there’s no $9,995 new BEV available here in the US (like the cheapest Chinese model would be without the .Gov intervention).
So, yeah, let’s slap another +100% tarriff on that BEV. We all need to drive them as of yesterday, for the polar bears. But let’s make them more expensive. Oh, and let’s just ignore nuclear while we’re at it. Expensive wind/solar FTW.
If climate change was such a big deal, we wouldn’t have these policy choices. It appears to me that we’re all being driven into poverty while the chains of control are installed. None of this is for the benefit of the American consumer, worker, or even national security.
(Why would I buy a 11 year old Cadillac with 140k miles and serious rust for $3800 when a little more than double would buy something new?)
Sounds to me like you’ve got a pretty good handle on it!
The only slight positive that I got out of tariffs is that it somewhat strengthened certain competitors manufacturing here in the U.S. versus Chy-na because prices become competitive but I believe, no matter, you and I pay more. It also supposedly helps job security for the American worker.
I’m calling BS on this one. Yaknow there was a time before income and corporate taxes, that tariffs were the main way our government funded itself.
Trump raised tariffs on Chinesium and I heard the same arguments, that is it would dramatically raise prices here. Fact is, to stay competitive, the Chinese ate most of the increase of the cost of goods sold. Across the board, prices came down. When Trump left office, inflation was 1.7%
It also gave breathing room for entrepreneurs here that wanted to start manufacturing similar products. Needless to say, both reregulation and the anticipated jacking up of personal & corporate income tax rates have killed this
manufacturing.
C’mon man,when I was in Tech school(in the early 90’s,the instructors kept saying we were going to be a “service economy”….all I could do is ask “why and how do you KNOW that???…..within four years after school most small/medium sizes manufacturing shops closed and the equipment shipped to where????….CHINA…
I was working for a HVAC manufacturer that several associated manufacturing units had all their equipment at one of the closed facilities,brakes,stamps,dies,screw lathes,vertical mills…..all on pallets preparing to ship…….the math was obvious and planned…..
Who’s paying the interest on the approximate 15 Trillion that Trump added to the deficit? From everyone I’ve talked to, including family, NOBODY remembers, or didn’t know that Trump signed a 6.2 Trillion dollar give away during Covid alone. It was televised; all of them smiling and giggling about it. I didn’t receive a penny nor did I agree with it.
And we wonder what’s going on with inflation?!
Let me see,……shut down your own manufacturing ability,rely on manufacturers overseas,tax the stuff you made yourself rely on in the first place from overseas!
That is some kind of genius there……if that is educated?,…..what a waste of money…….
murika fuk yeah!!!
I know, its mind boggling. Like you say, ship all your production to another country and then threaten that country economically and militarily. geenyus class
The real traitors in all this are not only the asswipe politicals but the CEOs of these companies and the satanic cultists that own them.
But cheap chinese products at walmart are da best…/s
vote moar harderer the golden chameleon will fix this after he
drainsinvestigates the swamp.All designed to take America down.
Intentionally tanking the dollar to the benefit of the ruble and yuan would create unlimited potential for insider trading. Demonstrating again, Biden working with Putin in the destruction of the West. While both profiteer right along with Zelensky.
Intentionally tanking the dollar to the benefit of the ruble and yuan would create unlimited potential for insider trading. Demonstrating again, Biden working with Putin in the destruction of the West. While both profiteer right along with Zelensky.
Intentionally tanking the dollar to the benefit of the ruble and yuan would create unlimited potential for insider trading. Demonstrating again, Biden working with Putin in the destruction of the West. While both profiteer right along with Zelensky.