EUROPE HAS TWO PROBLEMS, THE ABSENT EURO CURRENCY COHESION AND THE IMMINENT UNION BREAKUP. THEY ARE INTERWOVEN. DELUSION BRIMS WITH MERKEL AS ITS HIGH DEMAGOGUE. WHILE AGREEMENTS ARE MADE IN PRINCIPLE, THE REAL DEALS HAVE BEEN DELAYED UNTIL 2013 ADMIST UNUSUAL UGLY BICKERING. CRISIS WILL NOT WAIT UNTIL THEN. THE NEW E-BONDS ARE A CONTRAPTION DEAD ON ARRIVAL, AND THE BONDHOLER LOSS ASSURANCE KEEPS THE CONFLICT ALIVE.
EUROPEAN NETWORKS HAVE REVEALED THE DUAL EURO CURRENCY PLAN. CONTRARY TO SHALLOW US-BASED THOUGHT, A UNITED EUROPE IS NOT WHAT GERMANS DESIRE. A TWO-TIERED CURRENCY IS INEVITABLE, NOT FOR CONVENIENCE, BUT FOR SURVIVAL. THE DIVISION WILL BE OF NATIONS AS DEBTOR AND DEFICIT AND UNSTABLE VERSUS NATIONS AS CREDITOR AND SURPLUS AND STABLE. THE SPLIT MIGHT BE TIMED WITH THE HANDOFF FROM THE RETIRING TRICHET AT THE EURO CENTRAL BANK.
The Euro currency split is assured, just a matter of time. Whether by means of a leak or from careful sharing of plans, the story is coming out. The continent is preparing itself for two Euro currencies, a sick one and strong one, a debt ridden one and another fortified by much more healthy economies laden with surpluses. After two years of ridicule and contempt, the urgent necessity has become apparent, even obvious. My longstanding position has been that unless and until a nation or group of nations can break free of the USDollar, they will suffer a downward spiral of financial breakdown, economic ruin, and systemic failure. The same has turned true of the Euro ties. If Germany does not cut loose from the sinking Southern nations in the PIIGS pen, they will succumb to the same fate. Think of a drowning man loaded with bricks in his pockets, clinging desperately to his friends. They go down together, until the strong swimmer without the brick burden cuts free. The single common Euro currency was faulty from the start. The hope of the original framers was for the entire continent to adopt the German industriousness, their financial prudence, their efficiency, but that has proved a delusion and a view in incongruity with tribal nature. The Southern nations cannot develop export trades, as they lack ingenuity, discipline, and strong work ethic. As each nation emerged with its own interest rate on marked EuroBonds, the heterogenous nature of the Euro became obvious, even the target of arbitrage. Traders snuck in EuroBonds with Spanish markings and traded them for those with German markings, pocketing the difference in bond yields. Fast forward a few years, and the differentials are ripping the Euro currency apart. In fact, the common currency is an utter joke, given the fractious differences. In no way does Germany wish to continue bearing the annual $300 billion cost of keeping the union together. In fact, 90% of the German public want no more common Euro currency.
On the other side, the new Nordic Euro currency will eventually take on a gold component. It is already in the planning stages, a difficult development process. The schedule is for launch in June 2011. My personel belief is that a deley will come, but its launch is a certainty. The global players demand a more stable currency core. They demand a return to a gold standard in some form.
Jsou švýcarské banky opravdu bezpečné? Are Swiss Banks Safe Harbor?
THE SWISS BANKS HAVE OBSTRUCED GOLD & SILVER WITHDRAWALS. SO FAR NOT A BAN ON BULLION EXIT. DEEP SUSPICION SHOULD BE DIRECTED AT THE SWISS. WATCH FOR A FORCE MAJEURE HEIST IN THE FUTURE. THE CHINESE HAVE BEEN GIVEN A STRING OF POWERFUL MOTIVES TO ACCUMULATE GOLD, EVEN ON THE SLY.
The stories coming out of Switzerland appear to confirm the warning given in the Hat Trick Letter last summer of a potential Force Majeure bank heist, specifically with games played on inventory receipts. Such a nasty event would not occur immediately, but rather with stages leading into the massive theft. It is clear from the few stories that the Swiss have leased most of their Allocated gold accounts, in my view. Reports are consistent. The first is from a King World News interview with Jim Rickards of Omnis. He reported that a client of a major Swiss bank requested his one metric ton of gold bullion, owned outright out of the bank, but the bank refused to deliver his gold. He openly inferred that the Swiss bank had either leased it or done something improper with it.
Rickards said, „I obviously cannot mention the names of the individuals or the banks involved, nor is there any need to. But just the bare bones which was reported to me was that an individual had a ton of gold, worth about $40 million. He simply wanted the gold. Now this was not paper gold. It was not unallocated gold. It was not a gold future or a gold forward, gold option or COMEX gold. This was just good old fashioned gold where he owned it outright. It was in effect a warehouse receipt that they give you. He had his gold put there and they gave him the receipt. The gold is supposed to be sitting there. Upon request to move the gold, the bank demurred. I could see that taking a day or two. Eventually the individual did get his gold, but this is something that should have taken two days, three days, a week at the most, although I would say even a week is a long time. But it took thirty days, and it took lawyers, it took threats of publicity, it took a lot of pressure to do that, which my inference is that that gold was not there. The bank had to scramble, go out and find it somewhere before they could make good delivery.“
Rickards made some bold statements about how among the major Western nations, the governments control the big banks. Better yet, the big banks control the governments. Rickards expects that in the future at some point, the governments are going to order the banks to freeze the gold. They will forbid removal of gold in ownership, and not make the gold available to bank clients. He expects the banks to apologize but then explain the clients have a claim, but it would be redeemed in cash so as to avoid basic charges of larceny. The banks eventually will forbid the removal of gold. It is best therefore to make sure of being OUTSIDE the system, and not to even deal with banks with such stored wealth. Rickards continued with some additional remarks about the grand USFed loans in the $trillions, even to non-financial firms like General Electric and Harley Davidson. He called the unprecedented gestures an unlimited call on the taxpayers money. He called it a huge crime. He identifies the USFed corporate largesse as a motive for the Chinese to purchase gold bullion.
Rickards said, „It is clearly not going to be prosecuted, but the way the regulators have become captive to the banks and the non-banks, and the way the banks leverage off balance sheets, the way they in effect lie about their financials, the way they hide their liabilities and expect to be able to march up to the Fed and get all the money whenever they want at zero interest whenever they need it, no wonder the Chinese are going to gold. The US has 72.8% of its reserves in gold. China has 1.6% of its reserves in gold. What does that tell you about what the United States thinks is money. For over six years China has operated in the gold market through stealth. They basically have had secret agents working through SAFE (State Administration for Foreign Exchange) and other agencies. This is the complete corruption of the Fed.“
JAMES TURK CONFIRMED THE SWISS OBSTRUCTION ON BULLION RELEASE. OTHER STORIES HAVE SURFACED IN CONFIRMATION. SILVER IS INVOLVED IN DELIVERY BARRIERS AS WELL. THE STORIES COULD BE A SIGNIFICANT FACTOR IN THE PRECIOUS METALS RISE IN PROGRESS, AS ADDING FUEL TO DEMAND.
Since the King World News interview with Jim Rickards that a Swiss bank client was refused his $40 million of gold, the story has been going viral. In follow-up, KWN interviewed James Turk out of London, who cited yet another example. Turk is the founder of GoldMoney, the high integrity bullion repository for investors. He said, „I found that Jim Rickards comments about the individual who had difficulty getting $40 million of gold out of the Swiss bank where he had it stored very interesting. I could tell you several stories of similar experiences. Let me just cite one example that is ongoing. This individual has been storing with a Swiss bank twenty 1000 ounce bars of silver which has a market value today of just over $550,000. So, it is not only large transactions that are affected, but small ones too. When I last emailed this individual a couple of weeks ago, he was still trying to get his silver from this Swiss bank. This has been going on for over two months, and again we are only talking about 20,000 ounces of silver. This may seem unimaginable to some people, but I had told this individual in September when he contacted me, that I had seen this problem repeatedly with other people. He was quite confident that he would not have a problem getting his silver because he had been paying storage fees on it since buying it in the late 1990s. The Swiss bank is insisting that he take cash, but he is demanding his silver which is supposed to be sitting in the bank vault be delivered to him. As I said before, I know of other examples like this one. Circling back around to the Jim Rickards interview, he ended with some very good advice, with which I wholeheartedly agree. Make sure your gold and silver are stored outside of the banking system. It is important for people to keep their eye on the big picture and not be distracted by short-term volatility in the price of gold and silver. The long-term trend for both precious metals is still pointing higher.“
The takeaways are many. The Swiss banks are illegally withholding client gold & silver. They have in all likelihood illegally leased and sold it. They are illegally charging vault storage fees, since not in possession. They are most likely on the verge of bank failure from prolonged insolvency. Lastly, the Swiss banking system implosion seems a possible outcome during the next powerful moves in gold. The direct inference is that the Swiss banks have secretly assumed deep counter-party risk to leasing of gold & silver, with all the heavy risks of being short gold & silver. Their partners in crime are probably the major Western banks in the US and London, the Big Four on Wall Street, and the seamy allies in London.
Truth in Gold has grabbed onto the same story and drawn some conclusions. A comment was made with derision about the US sleepy public on the gold & currency matters of the day. The population probably feels insulated and immune from what comes. He wrote, „Not in this country of course, but globally precious metals investors are looking at these stories and deciding to get their metal out of the banking system. The knowledge that paper claims on gold & silver outnumber the actual amount of physical gold & silver available to be delivered by insane multiples is finally being widely circulated. Those who understand this situation are going to ask for the delivery of their metal. In other words, in my view, there is a scramble going on internationally for investors to take delivery of gold & silver. This is part of why we are seeing the metals trade inexorably higher.“ The Germans live next door to Switzerland. Thus their practice to stuff bank safety boxes with gold. It is a tough question whether a safety deposit box at a bank is truly secure from confiscation and cash redemption. In the United States, bank safety boxes are subject to confiscation from the Patriot Act.
Vládní bondy USA – US Treasuries
THE USTREASURY YIELD ON THE 10-YEAR NOTE HAS MOVED ABOVE 3%, AGAINST MY FORECAST. REGARD THE NEW TREND TO BE A GLOBAL REJECTION OF BOTH THE USGOVT FISCAL CONDITION AND USFED ACTIONS. THE USFED HAS FAST LOST ALL CREDIBILITY. THE ECONOMIC IMPACT WILL BE FELT NEXT YEAR, WITH DAMAGE TO HOUSING MARKET AND USECONOMY. $$$
The Jackass made another forecast error on the 10-year USTreasury yield, the asset class where almost all errors have occurred. My expectation was for the yield (also called TNX) to descend toward 2.0% to mark the climax top of the USTreasury Bond bubble. This makes perhaps the third forecast error in Jackass history related to the USTreasurys. It would be best never to forecast bond yields ever again. The announced Quantitative Easing #2 marked the bottom in bond yields, and the top in bond principal value. The reversal pattern indicates a 3.75% target, no forecast, just a chart target. The world has turned wise to the USFed, its skein of failures, its lunatic views, its consistently wrong perceptions, and the broken nature of the USGovt debt. The world might also be wise to the broken insolvent US banks, and the insolvent ruin among households, even that the United States is unable to make right its economic ship. It seems a great dare has taken place by global USTBond holders, a dare in the bond market for USFed to wreck the USDollar foundation further. Instead of front-running the USTreasury Bond market, the global bond investors have abandoned it.
The foreign creditors have lost respect for the USFed, and for Chairman Bernanke. Insults cast at the G-20 Meeting in South Korea testify to the lost respect, lost credibility, and lost leadership of the USFed itself. The USTBond selloff is a follow-up insult after the global meeting. History has made a turning point. The global central bankers have accelerated their conversion from USTBonds to Gold. They no longer believe the propaganda of a USEconomic recovery, the new byline of propaganda. Closer to the harsh reality is fast falling USDollar and fast rising price inflation, which urgently require a higher bond yield to address the asset erosion. The bond market has responded to the crystal clear continued preference still by the USGovt for costly stimulus over deficit reduction. Hyprocrisy is clear, since the deficit reduction committee just last week released their conclusions. The USGovt stands alone among major nations without any conceivable austerity program. The next story in 2011 will be the rising debt borrowing costs and rollover costs that catapult the deficit higher. Higher mortgage loan rates, even car loan rates, will damage the ruined housing market and work their way into the entire USEconomy. Quietly lurking as a grand damage factor is the Social Security pendulum swing. Its cash flow at the USDept Treasury has turned negative. No longer can the people deceive themselves that some sort of imaginary Trust Fund is going to turn their financial tide, or even fund their retirement with supplemental checks. It does not exist.
Another very large hidden factor is at work in my view, almost a generational factor.
Pohled na WikiLeaks – WikiLeaks View
THE WIKILEAKS SCANDAL COMES FROM INSIDE THE USMILITARY WITH PASSWORD CLEARANCE AND THE USBANKS FROM ABSCONDED DISK DRIVES. THE BANK SOURCE EXTENDS FROM A FAILED ICELAND BANK AND PROSECUTION WITH THE KAUPTHING BANKER, WHO HAS TURNED STATE EVIDENCE. A PLOT TO RESTORE THE USGOVT FROM INSIDE SOURCES IS UNDERWAY. A BATTLE BETWEEN GOOD & EVIL IS APACE IN A GRAND BLOWBACK AFTER 911 AND THE $TRILLION MORTGAGE BOND FRAUD. A SOURCE WITH GREAT TIES TO BANKS, MILITARIES, AND SECURITY SYSTEMS PROVIDED SOME INSIGHT.
„The Anglo American fraud and genocide cartel will be exposed. WikiLeaks was just a teaser. The Boyz took the bait, exposed their reaction profile, and aligned the forces, leaving it vulnerable. This is not directed against the American people but against the syndicate which was allowed to highjack the United States government. The real terrorists are deep within your own structures. A flash event will be generated for use that will create a political and economic vortex. The 21st American Revolution just started. It is all inter-connected. The Asians are the ones who will push the US over the cliff after the bankers themselves stepped to the edge by blowing themselves up. The WikiLeaks information comes from several hard drives from DeutscheBank and Goldman Sachs. The hard drives where handed over by a Goldman midlevel banker whom the European authorities had in custody in reference to the Euro 350 billion fraud Goldman Sachs engineered for the Greek Govt’s Treasury Department. The evidence that is piling up all over the place is incomprehensible. The big break was a top Kaupthing Bank executive from Iceland & Luxembourg, who led the investigators to the right back doors to lift data out of the systems. They found that the mega-banks are operating a shadow world with its very own bookkeeping and back-office set up, all totally off-balance sheet and out of sight and reach of the regulators. Those two systems, the overt and covert, have disconnected and are ripping the system to shreds. It is basically a mega-Madoff scheme that they are running, only a thousand times bigger. Madoff’s game was a satellite office that blew up when it was not properly supervised. The blowback was and is horrific since the entire system is now cratering.
The WikiLeaks site is being fed the information obtained from deep inside the system. There are people inside who very well understand that the system can only be brought down from the inside out. Witness how they hit Hillary Clinton by exposing her spy instructions to the US diplomats worldwide. In the latest Wall Street Pentagon Papers, the people were told that data was allegedly released by the babyface soldier, of rank private.. The papers reveal a $12 trillion unauthorized grant to global bankers as the hidden part of the TARP Fund used for buying up global assets after the price ambush following the Lehman Brothers failure. The flow of data comes from the top, not the bottom.The data grab required access with three passwords to enter the archives, something only known to 4-star generals at the Pentagon. The access was not through hacking but through opendoor access with proper credentials. Beware of a military Coup d’Etat going on in America and no one gets it. Next, WikiLeaks will next go global and viral in pure decentralized fashion. Thousands of WikiLeaks will be set up in lightning speed that will be fed from a central invisible source, which then publishes simultaneously all over the world. Their counter-attack retaliation against those who assisted on the WikiLeak crackdown is impressive [credit card companies]. Things don’t just happen; they are allowed to happen. Problem-Reaction-Solution.“
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