Financial expert and trader Reggie Middleton says the Fed is “going to be forced not to raise interest rates.” Middleton explains, “If they do raise rates, money is going to fly into the dollar. The dollar is going to become even stronger relative the euro and Asian currencies. Then you are also going to have a lot of pressure on U.S. corporates because any international business is going to take a significant hit.” Middleton goes on to say, “If the economy gets better, they can raise rates, but why would the economy get better now when it didn’t get better last year or the year before that? In order for the economy to get better, you need to flush that garbage out of the system. They refuse to do that. Instead, they made a bunch of rules. They papered over it. They still have no mark to market accounting. Nobody knows what’s on the banks’ balance sheets. Nobody knows what it’s worth, and they literally made it legal for the banks to say we won’t tell you what it is worth.”
On the new Asian Infrastructure Investment Bank (AIIB), Middleton says, “This is competition for the dollar. I wouldn’t call it the death knell. The dollar is deep and wide in terms of liquidity and is backed by the geopolitical, economic and the military might of the U.S. So, it is not the death knell, but competition and healthy competition. Think in terms of a wolf pack. You have an alpha male and that is the dominate wolf, and he runs the pack. Other dominate wolves in the pack challenge that wolf for superiority. The alpha male has to put the wolves down. If he does not, then the alpha is now switched. That is basically the circle of life. Instead of challenging for the alpha male position of the wolf pack, they are challenging for the reserve currency, and China is making that play. I don’t think they will succeed, but it is healthy competition.”
Could we have another financial disaster this fall? Middleton contends, “There are a lot of powerful forces trying to kick the ball down the road, but the longer you kick it, the greater the recompense when it’s time to pay the piper. The most dangerous threat to the global economy would be a contagion from Europe and from Greece, but not because Greece defaults. This is the danger Greece causes, and that is Greece’s success is by far the greatest danger. Suppose Greece drops out of the Eurozone, and there are going to be hard times, and they pull it off . . . then every other country that is subjected to extreme austerity say why in the world are we allowing ourselves to be subjected to this by the Troika and Germany? Greece was able to pull out . . . and they did no worse than they did while being subjected to austerity. Then, now they are truly a sovereign nation. . . . If Greece gets away with it, then you have to take a look at Portugal and Spain and Italy and Ireland, and they will think about it. If Greece even partially succeeds, then the entire Eurozone experiment is gone.”
Middleton is also starting a new company based on Bitcoin. He thinks banking, trading and legal contracts can all be done without middlemen. He will explain his new idea in the video interview.
Join Greg Hunter as he goes One-on-One with Reggie Middleton, creator of Veritaseum.com.
(There is much more in the video interview.)
After the Interview:
If you’d like to learn more about Reggie Middleton’s innovative idea, please go to Veritaseum.com.
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Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.