Jim Willie: Exposure of Allocated Gold Account Raids Will DEVASTATE The Major Banks!

• This is an excellent piece (once again) by Jim Willie. It is somewhat long but worth reading the entire article. Excerpts: (emphasis mine)
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  Jim Willie: Exposure of Allocated Gold Account Raids Will DEVASTATE the Major Banks! 
  by Jim Willie, http://www.goldenjackass.com/ , via http://www.silverdoctors.com/ 
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  ALLOCATED GOLD & 40 THOUSAND METRIC TONS SHORT
  An assured jump in the banker brush fire will be the revelation of massive raids on Allocated Gold accounts done systematically over two decades. The big Western banks have been illegally grabbing the gold bars via unauthorized leasing, then selling them in the open market in order to maintain the artificially low Gold & Silver prices. The process of revelation is already well along, with important major lawsuits in Switzerland. The Matterhorn case where Von Greyerz pointed out the long delays for his fund investors to receive their gold bars from Allocated accounts has added to the controversy. The gold bars arrived with stamps and dates much younger than the original bars owned, lifting the veil of fraud. The scandal has not yet reached the public eye, but it will very soon. Some Gold experts call it The Mother of All Gold Scandals. Several class action lawsuits totaling several $billion are underway in the elite banker nation of Switzerland. So far, the coopted press has kept a lid on the story. The leaks will be natural, like an overflow of chocolate from the vat. The documents concerning the serious illegal activity will be more visible amidst document discovery during the LIBOR investigations.
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  My best source shared in 2010 that at least 20 thousand tons of Gold had improperly been taken, leased, and replaced with gold paper certificates in vaulted locations. The bullion bankers were dangerously short. In 2011, he admitted that the criminal activity had easily surpassed 40 thousand tons of Gold illegally leased, resulting in a massive short position for the bullion banks. In 2012, he increased his estimate to between 40 and 60 thousand metric tons of gold illegally seized from Allocated Gold accounts, the short position totally out of control and absolutely impossible to bring into balance with short covering. In the last week, he passed along a communication with a veteran Gold expert with decades of savvy experience. They concluded that remedy for the vast gigantic short position by the gold bullion bankers will send the Gold price well over $10,000 per ounce. They believe probably by the end of the criminal prosecution remedy, the resolution of the defrauded Allocated gold accounts, and the installation of the new trade system alternative, the Gold price will find a natural value at least twice that elevated value. Expect further revelations and documented evidence of vast Allocated Gold account raids, and improper raids to gut the Exchange Traded Funds (GLD, SLV). It is only natural in the brush fire jumps.
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  The Gold Bull will hit on all eight cylinders, and adopt another four cylinders, when the Allocated Gold account fraud is revealed and hits the news. Only then will public calls for broad criminal prosecution be accompanied by equal calls by the very wealthy. By then, speculation will extend to how high the Gold price can go, and to what limit. Think at that point, unlimited extensive money growth, a gaggle of futile bank aid packages, and currency debasement abuse from the hyper monetary inflation underway for over four years. The Gold price must match the abuse stride for stride, when at the same time react to forced bullion banker purchases of Gold in order to replace the raided Allocated accounts. A frenzy will come.
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  GOLD IS THE TRUE SANCTUARY
  The concept of solutions for the global monetary system, the global currency system, and the global banking system, have become outright laughable and an insult to the intelligence of observers. The paper system has become weighed down by toxic assets to the point of rendering the entire system insolvent and sinking its future prospects. No new debt can repair and provide remedy for the fatally sick and current overly indebted dying system. The new trade settlement facilities are ready to put in place, based upon a Gold & Silver core. That word has come from a source directly involved in the preparation process for the Eastern Fortress. The trade notes will provide the lubrication to complete trade, which will have a hard asset core. The USDollar will gradually fade away from trade settlement, except for the United States, Canada, the United Kingdom, and possibly Southern Europe. The great tipping point approaches, whereby over half of global trade will be settled outside the domain of the crippled toxic USDollar. The foreign participants can no longer tolerate the bank bond fraud, the central bank debasement, and the usage of bank devices as weapons.
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  read more!

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