Jiang Xueqin warns of global collapse and everyone watches October

The collapse Jiang Xueqin announces without saying when

Every time a guru announces the end of the system, the same domestic doubt resurfaces: do you buy the canned tuna now or wait for prices to drop? Professor Jiang Xueqin has stirred the pot again with a prediction of global collapse that, like almost all predictions of its kind, has one virtue: it sets no date. Or does it. Nobody is quite sure. Some are already pointing to October.

The core of the argument is not the fall of the West in the abstract, but the dollar. And here the numbers are stubborn. The greenback accounts for around 60% of global reserves, between 80% and 90% of currency transactions, nearly half of global invoicing and between 60% and 70% of international debt. Saying that "only what orbits around the dollar will collapse" is saying almost everything.

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From the peseta to the currency basket

The scenario taking shape is not a blackout, but a change of unit of account. Bread and milk did not cease to exist when the peseta disappeared; they were simply denominated differently. The most repeated hypothesis points to a currency basket in which the dollar loses relative weight — up to 80%, for example — with the rest distributed among other currencies. A massive devaluation of the greenback that China and the European Union would watch with satisfaction.

The oil that won't wait for the prophet

While the prophecy simmers slowly, crude oil is already on its own: 107 dollars and climbing. It is the kind of figure that gives doomsayers ammunition and, at the same time, the kind that reminds us these announcements tend to be vague. Broad enough for anything to confirm them. Vague enough to commit to nothing specific.

As for who exactly this professor is and where he preaches, the honest answer is that he is probably paid in the same currency he says is going to blow up.