Jim Willie's latest

derryb

If truth be known, over 40 thousand tons of gold bullion has been leased and sold that does not exist. In the coming years, reconciliation will assist in sending the gold price much higher, toward $5000 per ounce.

Baley

I read the whole thing. That is some scary prophecy!

mhammerman

"...bankers last ditch attempts to salvage what can not be saved."

Thanks for posting the article.

roadrunner

Scary indeed. Most of what Willie has written about a few years back has come to fruition.
Ironically, at the end of each of these prolific JW articles, one is always greeted by a smiling Jim Willie!

His photo reminds me of actor John Ashton who played Det. Taggart in the Beverly Hills Cop movies.

roadrunner

jmski52

You must have a knowledge base before you can have good intuition. Willie has both. Good article.

cohodk

Too much conjecture "In late November, a great reliable global gold trader source assured that despite a posted $1740 gold price, the true physical price paid for large gold bullion purchases in the private market was more like $1950 per ounce!"

Too much hyperbole "The 0% marquee is actually a tombstone epitaph, since the US cannot exit from its clutches"

Too much incorrect statement "Canada which has a mere 34.9% total debt burden versus its GDP, a much stronger financial situation." Actual number is over 84%.


The greatest science fiction writers feed off of immediate fears and worry. The Andromeda Strain and 2001 A Space Odyssey come to mind.


One shouldnt need to glorify a situation to prove a point. Unfortunately his "prophecies" do not resonate with me.

tincup

The interesting part for me was the MF Global / silver tie-in ... may actually have been the pilfering of silver accounts of private owners. Very interesting and scary. No wonder the public are running scared from the stock market, etc., it appears no one can be trusted any more. Got your silver and gold stored with some firm? Might want to reconsider that strategy.



"The MF Global event was motivated by the desire to avoid meeting delivery notices. Instead, JPMorgan stole the accounts demanding delivery,"

"Here is the smoking gun. Days after the MF Global bankruptcy was filed, and a vast array of deliveries in silver were expunged. The silver vault inventory tells the story of the crime. JPMorgan simply converted what should have been MF Global client silver into JPM licensed vaults. Review the timeline. MF Global declared bankruptcy on October 31st. About a week later the CME began reporting that 1.4 million ounces of Registered silver was unaccounted for and unavailable for delivery, including 627,182 ounces from non-cartel banks. About 7 to 10 days afterwards, JPMorgan suddenly reported a deposit of 613,738 ounces into Eligible vaults. Exactly seven days later, JPMorgan adjusted this silver into Registered vaults. JPMorgan had not seen one significant silver deposit in months prior to this bountiful day. Great work on the part of the Silver Doctors to decipher the story. The charade continues before the USCongress. They are told of claims that investigators are searching avidly for the missing funds. They know where the funds are, in JPMorgan London accounts. They told us they were avidly looking for Madoff Funds too. They know where those funds are too, in the Land of Yodels. Reckoning is coming."

jmski52

The Andromeda Strain

Good Sci-Fi!

2001 A Space Odyssey

I'm still confused over that one.

Here's the part that does make sense, and it's what scares me and I don't think it is hyperbole':



I think that I'm well-prepared to maintain my financial position but I still have doubts.

I have a bank balance that is only there in order to pay my taxes. If it disappears in a financial system collapse, the IRS will still want their tax money, but my bank balance will have disappeared.

If the system collapses, I wonder if the debt I still owe on my mortgage would still be owed to the banks who are busy being bailed out by corrupt politicians. Probably so.

The only difference between then and now, is that I would personally be affected. The game would remain exactly as it is right now. Sobering stuff.

It's why cohodk's recommendation to hold some serious cash makes sense to me.

streeter

Gold is going to have a hard time reaching that level without some serious inflationary pressure.

'They'll' change the law before it happens. How about STATE OWNED gold exchanges or making it a class 1 felony to transact more than $1,000 in commerce(or $600 like it is now) w/o a EIN attached to the transaction?

'They'll' do something nefarious so 'they' get a piece of the action. It won't be hard to make people think twice before individuals initiate a transaction and make a profit with our silent wealth if there are serious penalties attached. Just a few punitive examples will get the message across. They've done it before and they will do it again.

edit: think about this...the govt was perusing these boards looking for Roger Burdette posts to mock him during the Langboard trial.....don't you think software exists to crawl the BST forum looking for gold and silver sellers. One of my customers was in charge of DB2 for IBM and mentioned to me that Ebay has every keystroke logged from the inception. As they say, storage is cheap. Cross matching the data can happen whenever they feel like it.

Don't be paranoid, it'll only confuse you.

tincup

Very true, streeter, about how everything on the web is backed up. If I were an agent wanting to find out who might have gold and silver... a visit to here and Kitco and a few other sites would give all the info needed. Regardless of whether someone states they lost theirs in a boating incident, etc.!

Whenever you hear in the news about someone being arrested for some crime, you eventually hear about all the web sites they have visited. There is a record of everything; I suspect internet providers all back up info also so it is retrievable when the powers request it.

Not to appear paranoid, or anything like that... but if I were big government... I would want EVERYONE to have a computer with internet access. What better way to track what everyone is doing!!??

golfer72

<< <i>Too much conjecture "In late November, a great reliable global gold trader source assured that despite a posted $1740 gold price, the true physical price paid for large gold bullion purchases in the private market was more like $1950 per ounce!"

Too much hyperbole "The 0% marquee is actually a tombstone epitaph, since the US cannot exit from its clutches"

Too much incorrect statement "Canada which has a mere 34.9% total debt burden versus its GDP, a much stronger financial situation." Actual number is over 84%.


The greatest science fiction writers feed off of immediate fears and worry. The Andromeda Strain and 2001 A Space Odyssey come to mind.


One shouldnt need to glorify a situation to prove a point. Unfortunately his "prophecies" do not resonate with me. >>

Ok then just stick to the prophecies you hear on CNBC.

mhammerman

Yepper, tincup, you got it rite. The gov should issue phones and computers to every citizen and ban private sales, just make it easier for everybody. How did things get this way so fast?

Every text, every phone call, every kind of internet communication you make, your IP, your IP log, everything you have done on the airways is taged and baged for perpetuity. I doubt that they look at everyone and everything all the time except for key word IDs and troll sites but if some name pops up on the radar then they open the treasure chest and the gov and the snoopies of the world know everything about you including what your mamma got for Christmas...in '04. This is they way it is, like it or not. If you use the public airways realize that the gov has all the details of your use, Orwell or not.

There should be some kind of "next generation" communication device/system come up that will be for personal use only...maybe like a personal encription code that is scrambled and disposed of everytime you use your device. I like the idea of the gov issued communication devices but with the ipad and tablets, and the debug codes implanted in your phone and, oh yeah, don't forget the GPS, they already are gov communication devices except we have to pay for them...well, most of us have to pay for them.

Hey bud, GOT CASH?

Oops, forgot to add this. Might check out the comments just to see.

Spooly

Does anyone use personal encryption software? If so which kind is best?

derryb

HS recently labled users of cash in lieu of credit cards as "potential terrorists."

roadrunner

<< <i>HS recently labled users of cash in lieu of credit cards as "potential terrorists." >>



Those carrying credit cards have the "potential" to use them for jimmying open locked doors and even shaving them down to a fine edge to be used as a weapon.
I would think the c/c's are more dangerous than FRN's. All the gas stations and merchants nationwide that give discounts for cash must be part of the conspiracy as well.

roadrunner

jmski52

<< HS recently labled users of cash in lieu of credit cards as "potential terrorists." >>

Then the Fed is defacto the biggest "potential terrorist" of them all, because they print the stuff.

roadrunner

If you like to read his essays....here is one of his recent video interviews which goes into more depth.

Jim Willie part 1 of 3

roadrunner

jmski52

If you like to read his essays....here is one of his recent video interviews which goes into more depth.

I watched all 3 segments, and each one was good. I wonder how long JPM can keep pulling the strings when they're so obviously controlling so many sides of the major financial mechanisms for the same accounts. And how long can Goldman Sachs keep buying their way into government positions?

If it weren't true, we could all laugh about how crazy this stuff is.

roadrunner

Willie's latest........widening gap between paper and physical gold

Interesting that he feels the gold bulls are behind this current gold weakness in order to fill a 50-200 ton order of gold.

Kingworld interview of a London Gold Trader:

We are making a historic bottom right now. The paper gold, or virtual gold market, has diverged so far from the physical market that it’s no longer a credible marketplace. That’s the key thing that came out of a very important meeting I was in yesterday where we had some serious players. The people I was meeting with are all on the buy side and have been since the lows last week.

There are massive physical orders, sitting, waiting for any more discounts, and yet everyone else seems to be short. So you have huge fuel for a rally here.

You have to keep in mind this recent plunge was orchestrated with borrowed gold and that borrowed gold is now gone. That’s why gold can’t go much lower. Any dips in price will be aggressively purchased. As I said earlier, right now we are witnessing a historic bottom.”

roadrunner

cohodk

That’s why gold can’t go much lower. Any dips in price will be aggressively purchased. As I said earlier, right now we are witnessing a historic bottom.”


Kiss of death, my friends, kiss of death.

jmski52

I highly recommend Sinclair's "Pocketbook of Gold".

roadrunner

<< <i>That’s why gold can’t go much lower. Any dips in price will be aggressively purchased. As I said earlier, right now we are witnessing a historic bottom.”
Kiss of death, my friends, kiss of death. >>



While it certainly can go a lot lower, it's already been crushed to a level that has hit 3 yr lows in sentiment, oscillators, etc. HGSI now at 0.3%. I guess a reading of
0% would indicate there are no gold analysts that he surveys that are currently bullish on gold. So at the present there must be at least one out there somewhere.
The patterns currently being carved out in the S&P and oil the past few months looks potentially quite bullish....or a massive bull trap. The 4 yr consolidation patterns
in grains and metals seem to be coming to a decision point. The 4 yr corn chart looks like an inverted silo.

roadrunner

cohodk

it's already been crushed to a level that has hit 3 yr lows in sentiment, oscillators, etc

My indicators are not confirming this. Sorry, I just dont see it.