Jim Willie: The Collapse is At Our Doorstep!

• Jim Willie: The Collapse is At Our Doorstep! 
  by http://www.silverdoctors.com/ 
  The Golden Jackass Jim Willie sat down with The Doc this weekend for the second part of an extraordinary interview regarding gold, silver, and what Willie believes will soon be a massive European banking collapse. 
  –
  Willie states that a global financial collapse is now at our doorstep, and that the endgame will be triggered by a small-medium sized bank failure in Europe.
  –
  Willie informs SD readers that the coming European bust will ignite a global Gold rush as the only remaining safe haven, will see an end to the reserve status of the USdollar, and will result in the arrival of the Gold Trade Finance platforms.
  –
  Willie also discusses The Fed’s futile attempts to re-inflate the housing bubble, and the series of climax events that will bring a breath-taking global financial collapse to our doorstep! The Golden Jackass states that the coming collapse will devastate everyone in the West except those who are bold enough and brave enough to buy gold & silver NOW!
  ….
  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!!
  –
  – 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!
  –
  read more!

end