Harvey Organ wrote last night, that Jim Willie is predicting the US will devalue the dollar by 50% soon, over a long holiday weekend.
Coincidence or not, PMs have taken off the last 2 days, after Willie's subscription letter was issued.
There is no doubt the dollar will be devalued. We could never pay back our monsterous debt in whole dollars, so we need to find a way to reduce it.
Willie says we Bush tried to do it in '06, but China prevented it.
If you recall, the problem is predicated on "a lack of liquidity".
If what I put forth previously - that there is too much total indebtedness because of the interest rate function on the money itself, over and above the total amount of money in the system which only rises arithmetically, thus bringing us to the point to where there simply isn't enough money in the system to service the the debt, that is how it is a problem based on "a lack of liquidity"? That truth stands there rather starkly all the while the CBs of the world are literally puking new money into existence...to increase liquidity....throwing the new money into the gap I've described.
Please remember, all that has occurred to deal with this problem has been the "infusions" of cash into the system - yes more borrowed money. Short term, albeit in a diminishing fashion, it has had somewhat of a palliative effect. Longer term, however, it will be likened to putting out a house fire with gasoline.
Mark what I said. When the cookie crumbles and assuming society can even remain on a level to where anyone really has the time or interest to explore the collapse and its underlying reasons it will finally be brought to light that the system was doomed from the beginning because of the rather simple mathematic problem as I've outlined twice now.
From Harvey Organs' blog today...
Had a conversation with the erudite Jim Willie this morning. His sources tell him that the Chinese and Arabs are going after the gold and silver markets in London … with buying sprees every ten days. If so, the prices of gold and silver ought to go parabolic in the months ahead and probably much sooner. There is no way the LBMA crowd can cover their Ponzi-like fractional gold/silver exposure. If they have sold the same gold and silver to many multiples of parties, as we think they have, the LBMA bankers are going down … should the Arabs, Chinese, or anyone else be going after their physical holdings. They will be doomed. Jeff Christian will have to go into hiding.
"Many, many, have come true."
Well, I suppose you would know better than I. He better get something right, or nobody would listen. I already mentioned the Nordic Euro that he had inside information on....whatever.
So, since you follow him, maybe give me(us) a couple things he has got right, that others do not get right. Not the real estate bubble popping, not gold rising, and not the depression we are currently in. Oh, were those some of the "many" things?
"QE increases the money supply not the debt."
mstack...you are too kind and patient. Thug boy is an idiot. Trying to carry on a semi-sophisticated discussion with thug boy is a waste of time. He's not up to it. Bet you didn't know that printing money created more debt...don't feel bad. I didn't either.
>QE increases the money supply not the debt.<
Sorry, babe, but all of the FRNs in existence, paper or digital, are part of the debt problem. In fact, because the total amount of indebtedness increases exponentially owing to the finance charge that it has, while the total money in the system only rises arithmetically, we are actually at the point to where there is insufficient money in the system to service the total amount of indebtedness.
This has been a long time coming, but it is part of the mathematical problem with the current debt based system we are forced to use all in controversy with the US Constitution.
One should never be complacent when it comes to Q/E to monetize government debt. The computerized buy/sell programs of large hedge funds or bond mutual funds may make it necessary for the Fed to engage in more purchases than expected causing more selling of bonds on the world markets. This very interesting article spells out how we can expect a bond selling avalanch in the not too distant future which will result in a currency collapse. I found the article to be a fascinating read as well as providing an interesting signpost for the "trigger event" for a rapidly developing hyperinflation.
In his letter he talks about much social unrest following a devaluation..but makes no mention of any benefits to the move...Just noise....I hope gold and silver are not up because of his hysteria.
Option expiration certainly not going as planned this month.....
"Option expiration certainly not going as planned this month....."
It would seem so as of today. Perhaps many of these "Jim Willie" figures have been saying outlandish things to "pump" and help fight off these manipulators? I don't appreciate them using tax dollars against us. They may have to use more to accomplish their goals, and such "pumps" may be defeating that way. Especially if they are just that, "pumps". I don't know how much credibility Mr. Willie has right now. Is he done talking about the inevitable "Nordic Euro" yet? What this guy wants to see happen, or claims will happen, have not been panning out that I have seen. I don't read him much these days.
Any way we can look at it, things are not getting better. That is for certain.