Geeeeeez!
Jim! Come on! One almost gets the feeling that American foreign,
domestic and economic policies are being controlled by an organized criminal
cabal. Must be those dammed muslims. Naaaaaah…..Can’t be!
That is more of that conspiracy stuff, and we all know that does not
exist.
“Get your money out of dollar denominated assets. NOW.” Jim Willie
Americans are so stupid you can spit in their face and then convince them it is
dew. Nikita Kruschev
The Golden Jackass Jim Willie sat down with The Doc for a MUST
LISTEN interview regarding the markets, gold & silver, and a coming
European banking collapse.
Willie made explosive allegations regarding the banking cartel, stating
that the US & France launched an invasion of Mali in order to utilize
Mali’s gold production to meet the Bundesbank’s 300 ton gold repatriation
request.
Wille states that there is a huge shortage of the metal, and that
a massive gold rush will soon be ignited, resulting in an epic short covering
rally and a 50% explosion in the price of gold.
Jim Willie’s full MUST LISTEN interview with The Doc is below:
Click on link at top of page:
Regarding the recent volatility in the gold and silver market’s and
backwardation in the two metals Willie stated:
The forward month is cheaper than the spot price. It comes from
shortage at the spot, shortage in the current or present. I’ve heard some
of the arguments, and I dismiss them rather quickly that we have a big meltdown
coming in the paper gold and silver price.
This is not 2007, this is not 2008, which means we dictate here a
much softer washout event. What’s different about now compared to 5-6 years
ago?
China is now buying frantically, whose access through Hong Kong is
experiencing about a 100% annual growth!
The Western nations citizens’ are buying coins frenetically, about
80% annual growth across the board!
The Shanghai Gold Exchange is the new kid on the block, it didn’t
exist back then. They’re setting up arbitrage with Shanghai- it’s just
starting, and it will pull apart the London price and cause drainage to
the London banks.
It’s a very different world with tremendous Eastward gold
flow. Gold is moving from London to the East- particularly China.
You’ve got to look at the flow, just like you look at money flow in the stock
market and bond market in the US. Look at the gold flow!
So the flow is moving, it has huge momentum on the metal
side moving East.
It reminds me of some of the shallow comments we heard a few years
ago, like we have a repeat of 1980 with the Hunt brothers!
That was the epitome of stupidity! We have the exact opposite of what happened in 1980 happening today, and we have a totally different situation today compared to 2008. I’m frankly a bit tired of the shallow analysis that the gold community is subjected to- sometimes by its own members.
That was the epitome of stupidity! We have the exact opposite of what happened in 1980 happening today, and we have a totally different situation today compared to 2008. I’m frankly a bit tired of the shallow analysis that the gold community is subjected to- sometimes by its own members.
I would welcome a gold move to 1450 and a silver move to 25.
It would hasten the draining moving from West to East, and quicken the
demise of New York & London scum that are operating their banks.
One must pay strong attention to the heavy volume flow from West
to East. Therefore a lower offered G&S price would accelerate the
bank system breakdown because gold is probably the only asset they have in
their system that’s not paper and crumbling into confetti.
The principal vulnerability though is with the COMEX itself.
As the Gold price declines, the COMEX will approach a default.
They’re running out of candidates like MFGlobal and PFGBest from which to
steal with total approval of the US government regulatory agencies, and court
system. I’m surprised it didn’t go to the Supreme Court to bless
their crime
The COMEX has almost no metal, and has almost no clients, compared
to five years ago, then I don’t expect we’re going to see a similar event to
five years ago. Again, I’m very tired of shallow, stupid analysis.
The Doc asked the Golden Jackass what is the most likely trigger
event for a complete systemic collapse:
I don’t think we’re going to see a default as a trigger event in
gold or silver. I didn’t say we won’t see a gold and silver default, I
said that it won’t be the trigger. There are just too many deep sources
for gold that the central banks have access to. I refer to Basel
Switzerland, the Roman catacombs, and the BOE, I think they’re pretty close to
the bottom of their gold barrel, but they have big powerful friends in Rome and
Basel Switzerland.
The trigger is not even going to come from within the US, because
it’s just so controlled- the markets are being controlled from multiple
different centers, in particular the Federal Reserve and the Treasury Dept,
JPM, Goldman Sachs.
It’s just so corrupt to the core, and we’re seeing a blossoming of
the fascist business model and the corruption that’s accepted.
Attention should be drawn to Europe. Look at some of the
most recent events that are really quite staggering.
The Italian elections kicked out the GSax preppy Mario
Monti. I’m surprised that he’s not being thrown off a palace
balcony. It’s directly in response to hikes that Monti imposed on
property tax to finance the bankers! The Italian people have a much more
effective political system than the US!
Italy actually has elected a comedian! This is like electing
John Belushi to form a coalition government! Mario Monti is on the way
out. What does that mean?
The defense of their dead banks with liquidity lines and property
tax hikes will end in the near future!
In Spain you have new high level financial corruption events that
have paralyzed the nation at a time when they’ve already seen a string of big
financial firm failures!
This at a time where they have 25% unemployment. I think
that the likelihood of violence on the streets is greater in Spain than in any
other country.
Spain’s bank insolvency and wretched unemployment is causing
tremendous distress, and there will be a breaking point there.
Then in France you have Hollande, the leader of the socialist
clowns has raised the highest tax brackets to 90%. The resulting capital
flight to Scandinavia is astounding, leaving the nation extremely vulnerable.
Then you have the German economic slowdown which is really
capturing some attention, which will remove ability and patience of bank
rescues.
Then you have the London banks which are joined by French banks in
broad deep exposure to Southern Europe. They’ve set themselves up to have
their heads cut off.
Recall that the Draghi solutions like LTRO were recently insulted
by debt downgrades, which was unprecedented.
Then you have the USFed, which is the only buyer of USTBonds, and
the Euro Central Bank as the only buyer of PIIGS Govt Bonds.
Here is a note as to the stress in the system: the
European banking system received $1.2 trillion in Dollar Swap funds from the NY
Fed in January alone to prop up the ECB banking system.
European banks are collectively much larger than the US banks, but
are in suspended animation while the US banks are being supported by narcotics
money laundering.
A big European bust is coming. When the European
bust events occur, the mad scramble for safety will be on, and they’re not
going to be looking for Switzerland any longer because of their Euro peg.
A massive rise in the European gold price is coming and it will be staggering,
shocking and not reversible. It will ignite a global Gold
rush, a massive short covering rally, and powerful 30% to 50% rise in the gold
price will come in response to the European collapse.
Following that will come the arrival of the Gold Trade Finance
platforms. Gold settlement for trade across the world- primarily though
coming out of the East.
In other words, trade involving two parties not involving the US,
one of them being an Eastern nation, and they will settle not in dollars
anymore, they will settle in gold, and they will have some help from their
friends in Turkey.
We’re going to see an end to the USDollar reserve status following
these events, and the funeral will have a speech given by the Saudis to bring
an end to the Petro-Dollar itself.
You have to look to Europe and not to the US, the US is a joke in
regards to crisis, management, propaganda, the ESF, narcotics money laundering,
sponsored fraud, it’s just unbelievable what’s going on in the US, it’s not
going to be the trigger, the trigger will be Europe.
We have 15 to 20 potential sites to force the breakdown.
It’s not just one or two. Every couple months there are a few more
potential areas to cause the breakdown. That’s very, very dangerous, and
new. We didn’t see that 3-5 years ago. Back in 07 it was really
just sub-prime. We have about 12 different areas now which are just as
dangerous as sub-prime, and both of them are in Europe.
With QE4 and the recent return of NINJA loans as the Fed attempts
to re-inflate the housing bubble, The Doc asked Willie whether the Fed would be
able to kick the can down the road one more time with one last bubble:
They have 15-20 fingers and toes, but there are just too many
different areas that they need to plug.
This real estate bubble is a joke. There’s no new bubble coming or even on the horizon. What we’ve got is the US government has sponsored a whole new round of sub-prime mortgages. Expect instead of the big banks underwriting them, it’s the Federal government. We have not seen a rebound in demand for housing, even though the 30 year mortgage rate is under 4% and has been for quite a few months.
This real estate bubble is a joke. There’s no new bubble coming or even on the horizon. What we’ve got is the US government has sponsored a whole new round of sub-prime mortgages. Expect instead of the big banks underwriting them, it’s the Federal government. We have not seen a rebound in demand for housing, even though the 30 year mortgage rate is under 4% and has been for quite a few months.
What’s not shown in the press is that there’s still 10 million
homes that are sitting on the bank balance sheets. They’re called REO’s,
and they’re selling their REO’s or short sales, which ARE NOT INCLUDED IN THE CASE
SHILLER INDEX!
It’s a parallel of the discouraged workers no longer included in
unemployment! They’re bringing labor market calculations to the housing
market. They’re not going to revive the housing bubble for a simple
reason- there’s not widespread finance available, it’s exclusively coming out
of the FHA. The other reason is that people have a great distrust for
buying homes after they saw so many people foreclosed on. Another reason
is that the people don’t have brisk income.
The factors are not there, it’s kind of a lunatic claim to state that the housing market is going to be re-bubbalized. Not even close, it’s stuck in a depression!
The factors are not there, it’s kind of a lunatic claim to state that the housing market is going to be re-bubbalized. Not even close, it’s stuck in a depression!
The Doc asked Jim whether we face a lost two decades like the
Japanese, or what type of collapse we face in the US:
I said this back when Lehman Brothers fell in the autumn of
2008. The US is on a path that cannot escape systemic failure and total
dependence on the printing press to cover its debt and for a debt default
of the US government debt, which will come in the form of a global conference
to organize and co-ordinate the debt write down. There will be
US military outside the room to make sure everyone complies.
If the US goes ahead with sequester cuts, they’re talking about $4
trillion over 10 years. I cannot emphasize how small that is. But
let’s go through some of the points why I believe the
collapse is at our doorstep:
The collapse is happening now- it’s no longer ultra-slow
motion like 2 years ago. It’s a new event every few days or
weeks. The pace is quickening.
The extreme nature of current events is alarming. Just in
the last few months:
The US Fed announces every month their extension of 0% forever
(denigrating their own exit Strategy talk).
$1.2 trillion was doled out by the USFed to European banks
in January alone!
We have the Germans demanding repatriation of their official gold
account (Allocated Accounts).
We have the Italians electing a comedian like John Belushi to halt
the property tax hikes that bail out banks. This is an insult to their
entire political system which experienced that Mario Monti appointment without
an election.
We have the London banks recently sponsoring a Chinese Yuan Swap
Facility, cow-towing to Asia. This is unprecedented! New York will
not do such a thing, but London did, which means that London and NY might be at
odds!
We have an attack announced on Mali in North Africa to wrest gold
& uranium timed when the Germans asked for repayment of their gold
reserves. The quantities really fit. There was a suspicious
comment by the French and British saying it will be repaid in 7 years. 300
tons over 7 years is approximately what Mali produces in gold that will cover
almost exactly the German repayment. That was organized
by France and the US.
We have the shutdown of the gigantic Mongolian copper & gold
mine by Rio Tinto which is an example of resource nationalism.
We have raids larger and bolder of the GLD inventory that prevents
a COMEX default and will produce a bigger price discount vs. the spot for GLD
shares. I think it will go down towards a 20% discount, which will cause
alot of problems.
We have the USFed preparing for QE5 (or rather QE187, as
in QE to Infinity).
We have events like the major central banks losing credibility
while engaging in open currency war. The franchise system of central
banks is being questioned. They’re in battle with each other.
We have the US facing a fiscal cliff, which forces a quantum leap
in job cuts (recession alert).
We have the Japanese ratcheting up the competitive currency
devaluations (only USTBond buyer).
We have the Swiss managing their Euro-Franc peg, but suffering
losses in Japanese & British bonds.
We have the Russians hosting a G-20 Meeting to coordinate the
alternative to US$-based trade.
THEY ARE NOT GOING TO CONTINUE WITH DOLLAR BASED TRADE SETTLEMENTS! NOT GOING TO HAPPEN!!
THEY ARE NOT GOING TO CONTINUE WITH DOLLAR BASED TRADE SETTLEMENTS! NOT GOING TO HAPPEN!!
We have the emergence of Turkey and soon India as gold trade
finance intermediaries. They’re going to supply 1 of 2 parties engaged in
trade with gold so they can make the settlement of the trade.
We have the Iranian sanctions coming to a conclusion in US
acquiescence. The US is surrendering to the Iranians!
All these events have occurred just since the new year began less than two months ago! The pace of extreme events is quickening!
All these events have occurred just since the new year began less than two months ago! The pace of extreme events is quickening!
Extreme events have become the norm, putting tremendous additional
stress on the system which the boys are trying to manage. They don’t have
enough people, enough resources, enough channels, and they don’t have enough
brains to do it.
The managed system cannot succeed, it’s too complex. They
are attempting to work towards a system of total system management, and it’s
just not going to work.
A series of climax events is coming very soon. The
changes will be rapid and breath-taking.
Vast wealth has been moving East the past 3-4 years, and with it
great power.
Look for some seemingly minor bank failure to cause a ripple effect of deeper damage.
It’s going to involve larger banks tied with commitments such as counter-party contracts or intermediary supply functions, and things are just going to start wrecking.
Look for some seemingly minor bank failure to cause a ripple effect of deeper damage.
It’s going to involve larger banks tied with commitments such as counter-party contracts or intermediary supply functions, and things are just going to start wrecking.
I think vast wealth is going to be lost in the US and the West,
except by gold and silver owners.
Owning gold and silver will become harder to do because the rules are becoming stricter.
Those who have set themselves up in the last few years are going to be the big, big winners, and the ones who are bold enough and brave enough to do it now are going to be glad for their actions.
Owning gold and silver will become harder to do because the rules are becoming stricter.
Those who have set themselves up in the last few years are going to be the big, big winners, and the ones who are bold enough and brave enough to do it now are going to be glad for their actions.
I have a family member who refused my advice three years ago, and
now that family member is facing the conversion of her very large privately
managed IRA pension fund into these new special Treasury bonds. That’s
going to cause a real firestorm by the public, and they’re going to wish that
they had converted their IRA’s into a gold account.
Readers can find out more about Jim Willie’s Hat Trick Letter and subscription services at the GoldenJackass.com
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