What Jim Willie clarifies is that the domination of the global finance system by New York and London is over, and the new rising puppetmasters (China, Russia, etc.) have stopped agreeing to prop up the existing system. That puts a world of hurt on the US dollar. Many other nations that resent US domination, wars, drugs, and cultural intrusions will follow an alternative system away from the dollar. When Saudi Arabia either collapses or just abandons the petrodollar system, it will feel like a bullet to the head of American prosperity.
One high ranking Federal Reserve official recently admitted that they “front-loaded” the economy (poured in money to encourage growth) at an explosive rate starting in 2008-2009, and that as those debts unwind, the piper must be paid. So as the party ends, the hangover begins, and the landlord and the police (China & Russia) happen to show up too.
World Stock Market Collapse – has already begun in January 2016 – and will accelerate into spring. Think about what follows the loss of savings – the loss of faith and hope. Desperation, and willingness to follow a loudmouth wannabe dictator’s promises come next.