In this video, I talk with author and economic analyst John Sneisen about the vindication we at WAM have received as the US treasury cuts the Bank of Dandong from using the US dollar and it's only the beginning!
As the Wall Street Journal reports, the Bank of Dandong was cut off from using the US dollar by the US Treasury following them being accused of handling millions of dollars worth of transactions for sanctioned North Korea.
As we reported a few months ago, Mnuchin threatened to cut China from the US dollar but after all, this is the perfect storm.
China is happy to be cut off the USD as countless countries swap out of the world reserve currency.
This is all part of the power shift towards a cashless society which is clear and present. China is leading that shift alongside India. The IMF has been talking about moving their headquarters to China.
As the economy crumbles at the foundation, the Federal Reserve cannot raise interest rates enough to drop them out in the next crash. They will go negative so they are desperately trying to move towards the IMF's Special Drawing Rights (SDR) world currency which will be cashless.
So if your money's in the bank, it's not yours, it's the bank's. If your money's always going through the bank via legal tender laws and centrally planned digital transactions, it's never yours, it's always the bank's and you are essentially in total servitude to the government and banking system. Just where they want you.
These North Korea sanctions are just an excuse to make this massive shift.
Well, we can't say we didn't tell you so...