In an interview on December 23, 2014 Jim Williesays, " The dollar is going to rise before it crashes. The dollar has surpassed 90.
It’s interesting that the dollar is rising and it’s perceived as evidence of strength. I perceive the opposite . The dollar is not rising because of strength, it is rising because the entire system is breaking.
We are experiencing system failure right now. The whole financial structure…is collapsing. The evidence of that is all this money seeking a dollar-safe haven- because everything is breaking.
We are actually seeing a phenomenon happening that I forecasted a couple of years ago. I said ‘You’ll know we are at the very end of the dollar’s reign when the dollar rises and then rises some more, right before it dies.’ For the last month or so we have been in the end game. This is the end of the dollar.
It’s interesting that the dollar is rising and it’s perceived as evidence of strength. I perceive the opposite . The dollar is not rising because of strength, it is rising because the entire system is breaking.
We are experiencing system failure right now. The whole financial structure…is collapsing. The evidence of that is all this money seeking a dollar-safe haven- because everything is breaking.
We are actually seeing a phenomenon happening that I forecasted a couple of years ago. I said ‘You’ll know we are at the very end of the dollar’s reign when the dollar rises and then rises some more, right before it dies.’ For the last month or so we have been in the end game. This is the end of the dollar.
The currency reset is for a return to the gold standard and to double the gold price, overnight.
We are going to see the end of the dollar in a few months. This is the end.
We are approaching an earthquake. How do you forecast that? It’s like the birth pangs of a mother. The time between pains is shortening, as is the time between major events. A lot of time lines are pointing to the end of February or March. The Chinese are not going to allow the US to violate the global agreements.
They are going to destroy all dollar-based markets. Get out of your bank and stock accounts. Have a minimum amount to handle expense. Buy gold and silver. Which ratio? Buy 80% silver. Because central banks don’t own it and demand is rising. Central banks DO own gold and industry does not require much gold. Silver is going to rise by as much as 3-5 times as much as gold.
The US is going to be forced to come up with their own gold currency, and if they can’t come up with the gold in a manner that is legitimately audited independently, then the US is going to fall in the third world. "
They are going to destroy all dollar-based markets. Get out of your bank and stock accounts. Have a minimum amount to handle expense. Buy gold and silver. Which ratio? Buy 80% silver. Because central banks don’t own it and demand is rising. Central banks DO own gold and industry does not require much gold. Silver is going to rise by as much as 3-5 times as much as gold.
The US is going to be forced to come up with their own gold currency, and if they can’t come up with the gold in a manner that is legitimately audited independently, then the US is going to fall in the third world. "
"I believe that China now holds controlling interest in the Federal Reserve. Get out of your bank and stock accounts. Have a minimum amount to handle expenses. Buy gold and silver."
Interviewer: Rob Kirby said last year ‘It’s going to die when China doesn’t get their gold.’ What is right or wrong about that statement?’
Jim Willie: "Rob is a good friend and colleague of mine. It’s very, very difficult to encapsulate the entire fraction line of the system, because we are dealing with all financial platforms fracturing simultaneously. What Rob is saying that the breakdown of the entire system is very likely to happen when gold is re-priced much higher.
That is going to happen when China can no longer take advantage of this artificially low gold price and capture more and more tonnage of gold. And I tend to agree. But we don’t know whether the rest of the system is going to break down and collapse. Like sovereign bonds. Do you know for sure that in a month from now that the US Treasury complex is going to remain floating?
This is just a colossal movement: It is for other nations to settle their trade outside the dollar. Russia and China have this big holy grail-energy-deal that’s going to stand 30 years, extending pipelines from Siberia into western China. Just last week there was a deal between Brazil and Uruguay. There’s about 25 Chinese yuan swap facilities where they are not settling in dollars for trade.
My point is, with all this non-dollar settlement, nations are going to conclude that they don’t need to hold their Treasury Bonds anymore and they are going to start dumping them. It’s an event that’s going to force the hand of the Federal Reserve.
Rob believes the fault line is going to be gold, and he might be right. The ‘Voice’ has told me that we are going to wake up one day (it might happen around the Chinese New Year mid-February) give or take a month or two or three, and find the gold price is twice the price! And the silver price is 3 times the price!
If this happens, all the Forex derivatives tied to gold blow up! And all the London and Western European banks go into failure. UNLESS…the central banks monetize all those derivatives , which would cause all the major global currencies to lose confidence in the FOREX system led by the dollar.
There has been no gold delivery on a contract since 2012 in COMEX. The Comex tells people that if they push this, they won’t be able to do any contracts in anything else. Rob Kirby may be right. I think it’s going to be simultaneous breakdown, and I think they are breaking down right now. [20:50]
The Federal Reserve is buying lots of Treasury bonds all over the place. The Chinese asset purchases, for instance - they own all the ports in Los Angeles. It [Treasury bonds] adds up to about 10 million dollars, so they are relatively tiny in the grand scheme. They put a billion dollars in Wells Fargo and they get to borrow $8-10 billion against it.
With that clean money they are able to buy $10 billion dollars worth of commercial property. The Chinese, I believe, have lied that they own $1.3 Trillion in Treasury bonds. I think they own substantially less, somewhere near $800 billion. I think the Saudis own about 1 ¾ trillion and a lot of them are going to get turned into gold. Why would any nation want to hold Treasury bonds when the US is printing them? This is what third world nations do!
QE is not over. We are forcing the whole world to abandon the dollar. We are never going to get off of QE because we have to create artificial demand for treasuries while the whole world is dumping treasuries. There are no more fair markets. Period.
The United States has lost control of its country and really followed after the majority of their government debt went into foreign hands. I believe China own US government corporations and now has full claim on all IRS tax income revenue streams.
Jim Willie: "Rob is a good friend and colleague of mine. It’s very, very difficult to encapsulate the entire fraction line of the system, because we are dealing with all financial platforms fracturing simultaneously. What Rob is saying that the breakdown of the entire system is very likely to happen when gold is re-priced much higher.
That is going to happen when China can no longer take advantage of this artificially low gold price and capture more and more tonnage of gold. And I tend to agree. But we don’t know whether the rest of the system is going to break down and collapse. Like sovereign bonds. Do you know for sure that in a month from now that the US Treasury complex is going to remain floating?
This is just a colossal movement: It is for other nations to settle their trade outside the dollar. Russia and China have this big holy grail-energy-deal that’s going to stand 30 years, extending pipelines from Siberia into western China. Just last week there was a deal between Brazil and Uruguay. There’s about 25 Chinese yuan swap facilities where they are not settling in dollars for trade.
My point is, with all this non-dollar settlement, nations are going to conclude that they don’t need to hold their Treasury Bonds anymore and they are going to start dumping them. It’s an event that’s going to force the hand of the Federal Reserve.
Rob believes the fault line is going to be gold, and he might be right. The ‘Voice’ has told me that we are going to wake up one day (it might happen around the Chinese New Year mid-February) give or take a month or two or three, and find the gold price is twice the price! And the silver price is 3 times the price!
If this happens, all the Forex derivatives tied to gold blow up! And all the London and Western European banks go into failure. UNLESS…the central banks monetize all those derivatives , which would cause all the major global currencies to lose confidence in the FOREX system led by the dollar.
There has been no gold delivery on a contract since 2012 in COMEX. The Comex tells people that if they push this, they won’t be able to do any contracts in anything else. Rob Kirby may be right. I think it’s going to be simultaneous breakdown, and I think they are breaking down right now. [20:50]
The Federal Reserve is buying lots of Treasury bonds all over the place. The Chinese asset purchases, for instance - they own all the ports in Los Angeles. It [Treasury bonds] adds up to about 10 million dollars, so they are relatively tiny in the grand scheme. They put a billion dollars in Wells Fargo and they get to borrow $8-10 billion against it.
With that clean money they are able to buy $10 billion dollars worth of commercial property. The Chinese, I believe, have lied that they own $1.3 Trillion in Treasury bonds. I think they own substantially less, somewhere near $800 billion. I think the Saudis own about 1 ¾ trillion and a lot of them are going to get turned into gold. Why would any nation want to hold Treasury bonds when the US is printing them? This is what third world nations do!
QE is not over. We are forcing the whole world to abandon the dollar. We are never going to get off of QE because we have to create artificial demand for treasuries while the whole world is dumping treasuries. There are no more fair markets. Period.
The United States has lost control of its country and really followed after the majority of their government debt went into foreign hands. I believe China own US government corporations and now has full claim on all IRS tax income revenue streams.
I believe the US government debt has already defaulted. Why? Because 3 or 4 months ago Congress announced there’s no more formal debt limit on US government debt. No more debt ceiling! Why? Because we’ve already defaulted!
The whole world is planning to reset the currencies. The United States is resisting it, even though 140 nations agreed to it, about a year ago. And by defying the agreement of these nations- Signatories to the Global Reset, the United States decided they have a different plan.
They didn’t want a reset of the currency versus gold. ‘We’re going to give you a Ukraine war. ' We are going to sever the umbilical chord between Russia and Europe. So now we have, sadly, the United States acting as a rogue nation, using war to defend the dollar. It’s just not going to work."
They didn’t want a reset of the currency versus gold. ‘We’re going to give you a Ukraine war. ' We are going to sever the umbilical chord between Russia and Europe. So now we have, sadly, the United States acting as a rogue nation, using war to defend the dollar. It’s just not going to work."
"The currency will be then devalued 30% out of the gate, then in another few months, another 30-40% devaluation."
Author Note: From listening to other economists, the only thing that will revive the dollar is another round of quantitative easing, QE (money printing) that is even larger than before. If that happens, then we are into another phase, which will prolong the collapse and continue to prop up the dollar.
Credit to gramsgold.com
