Death March: Approaching a New Financial System!

• The world is heading towards a global economic, financial and currency meltdown. This is an intentional detonation of the current world system by the Illuminist-Satanic cabal. They want to foment chaos, deaths, violence, destruction of nation states, wars, global collapse … to lay the foundation for their coming Luciferian New World Order, Luciferian World Government. To set the stage for the coming of their fake messiah, the Anti-Christ, the bringer of false peace, the white horseman of Revelation 6. They are getting ready to implement their One World Currency backed by gold, Global Supra-National Central Bank –> ‘666’ !
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• This is an excellent report by Paul Mylchreest, Thunder Road Report. He is of the opinion that the current financial system will implode within 6-12 months, to be replaced by a new system backed by gold. Excerpts (emphasis mine):
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  Death march: approaching a new financial system! 
  by Paul Mylchreest, Thunder Road Report
  …. Since debt brings forward consumption, the obscene amount of debt in western nations HAS (past tense) already been reflected in their GDP, i.e. a huge amount of GDP was “borrowed” from the future into the past AND is still being borrowed into the present (now primarily from governments and central banks, the supposed guardians of the value of currencies).
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  The relationship between debt and consumption is deceptively simple, but it has a very powerful effect on economies and financial markets which is largely ignored. For years, it could be ignored because the effects were all virtuous. Whenever the debt growth started to slow, some idiot stepped in with maestro-like precision and got all the plates spinning again. Furthermore, GDP is purely a measure of spending and not a measure of wealth or value. If we think in terms of analysing individual companies, GDP would be nothing more than the expense/outflow half of the Cash Flow statement.
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  You can’t spend your way to prosperity, but we are in an upside down world where spending and debt are considered to be “wealth”. People will look back on this period and wonder how they allowed themselves to become so deluded? Although “It’s the debt, stupid”, it’s funny how rarely central bankers mention the “elephant in the room”.
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  “Let’s take a step back for a second. Who are these people? They’re the same idiots that never saw anything coming. So whatever they think they see, or whatever they want to talk about, is meaningless because they are probably wrong about what they think…They are the cause of the problem. So why do we want to know what the idiots think about the current state of the economy?”– Bill Fleckenstein on King World News
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  The only reason the “idiots” are worth listening to is to gauge the speed at which they will destroy the financial system.
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  Then there are the banks. The “asset” side of the banking system consists largely of loans to consumers and corporates (debt), bonds (debt) and the zero sum game of derivatives. The latter are opaque, but JPMorgan Chase now has a problem here. You didn’t really think that the bankers could create nearly a quadrillion dollars of notional derivatives exposure and not cause a catastrophe along the way?
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  Meanwhile the price of the only financial asset with zero counterparty risk in the biggest global debt crisis in history has been “locked down” for months. There is a reason. It must move in volume to where there is an insufficient quantity prior to the denouement of the current financial system. A new system is coming with a bigger role for gold.
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  “The only cure for a bubble is to prevent it from developing.”
  Well it’s far too late for this financial system. Ten years ago, before the debt bubble became catastrophic, the free market could have resolved this issue. But Greenspan, the “Great Architect”, had to create yet another bubble in real estate and the “point of no return” was left far behind. Then the helicopter-flying monetary psychopath took over and he is creating the bubble to end all bubbles in MONEY itself.
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  The two remaining “sacred cows” preserving the US dollar as the world’s reserve currency are:
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  1. The belief that the Chinese will continue to buy US Treasuries; and
  2. The US dollar will maintain its monopoly on world trade.
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  Regarding number one, the Chinese have been sellers since the end of July 2011 (note the date). With regard to number two, have you noticed how China has set up currency swaps with nearly all of its trading partners? Have you noticed how Iran has been excluded from the SWIFT system and has begun selling oil to some countries in currencies other than dollars?
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  China has been preparing for dollar devaluation for nearly a year now, but hardly anybody has noticed. While everybody frets about the Euro, the dismantling of the US dollar’s reserve currency status is occurring within plain sight. I think a deal was done between the US and China in late Summer or early Autumn of last year. Have you also noticed how Ben Bernanke has used just about every unconventional method of monetary policy he’d discussed in his earlier writings on preventing deflation…bar one big one? Dollar devaluation. Let me repeat that, dollar devaluation.
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  We are heading into a truly mega-financial crisis. This is (another) classic “I hope I’m wrong, but…” report. I think the crisis is going to result in the transition to a new financial system as the current one implodes. Best guess is that it will be either happening, or perfectly obvious that it’s going to happen, within 6-12 months, i.e. within our investing time horizon.
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  This report connects a lot of dots and analyses each one of them. The dots include:
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  Dot – Loss of US AAA credit rating in August 2011
  Dot – China lashes out at US “addiction to debt”
  Dot – Peak in Chinese holdings of US Treasuries
  Dot – China starts selling US Treasuries
  Dot – Surge in the gold price in August 2011 followed by steep decline
  Dot – Lock down of the gold price (using “paper gold”) ever since
  Dot – Movement of large quantities of physical gold from London to Asia (notably China)
  Dot – Collapse of MF Global
  Dot – Radio silence on China being a currency manipulator
  Dot – Exter’s Pyramid playing out in front of our eyes
  Dot – Iran excluded from SWIFT system
  Dot – BRICS countries signed the Master Agreement on Extending Credit Facility in Local Currency and the Multilateral Letter of Credit Confirmation Facility Agreement
  Dot – US granted China a 6-month extension on sanctions for buying Iranian oil (India already had one)
  Dot – Revisiting Bernanke’s old speeches on deflation
  Dot – Operation Twist
  Dot – Comments by World Bank President, Robert Zoellick
  Dot – BIS proposal to upgrade gold to a zero risk weighted asset in line with sovereign debt as part of Basel III
  Dot – Comments by Robert Rubin (“consigliere” to the elite)
  Dot – Recent meeting between Kissinger and Wen Jiabao
  Dot – Why debt deflation now would paradoxically precipitate hyper-inflation
  Dot – Demise of the middle class (theme)
  Dot – Putting all of the above in the context of the fourth (and ongoing) price upwave of the last 1,000 years
  Dot – How each of the three earlier price upwaves came to an end.

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