A global economic collapse has become unavoidable, said former chief economist of the Bank of International Settlements (BIS) William White in response to the BIS’ quarterly report in September 2013. Experts forecast that a global economic collapse may occur, overnight, some time at the end of 2014 or in 2015. The fact that private interests are holding the U.S. Federal Reserve and the Central Bank of England as well as the Bretton Woods institutions in a state of capture makes it improbable that the governments of the USA, UK and EU could prevent a collapse.
Their policies have remained largely unchanged since early 2013, when the Deputy Governor of China’s National Bank, Yi Gang, stressed that China does not look forward to an economic war, but that it is prepared for it. BRICS member states have since then capitalized the BRICS Development Bank; the US/UK axis and the EU have launched a war of sanctions against Russia and a civil war in Ukraine. In 2014, China began opening its banking sector for foreign investments and banking at an unprecedented scale; Australia is in a quagmire between US pressure and the trend to make use of attractive and safer Chinese opportunities.
Thailand, Malaysia and other economies are increasingly encouraging their traders and investors to study the Chinese market. With the Bretton Woods system at the brink of possible collapse and conflicts looming, gold and the new gold-based economies are catching the, in some cases more, in some cases less hesitant attention of governments worldwide. The trend is, however reluctantly it is accepted, impossible to ignore. China overtook the U.S.’ as the world’s leading economy measured in buying power and is poised to become No.1 measured in GDP within a bout one year too, reports the IMF.
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