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Jim Willie gunThe Doc sat down with the Golden Jackass himself this weekend for an in-depth interview covering the state of the gold market and the Western banking system.
Willie discusses the German efforts to repatriate their gold reserves (along with the implications of only receiving 5 tons from the NY Fed in year 1), as well as Bafin’s investigation into precious metals manipulation and why unlike the CFTC’s, it is likely to result in criminal charges.
Finally, courtesy information provided by a high level executive at one of the world’s leading private refineries, Willie reveals the ‘smoking gun‘ evidence that proves US gold was rehypothecated over a decade ago!

Jim Willie’s full MUST LISTEN interview with The Doc is below:

 


The Doc began by asking Willie what the implications are that the US was only able to repatriate 5 tons of the Bundesbank’s gold reserves in year 1, and his overall view on the importance of the German gold repatriation request made a year ago, and Willie responded:

- an entire process was triggered, to drain gold, to slam markets, with publicity given

- it means the USFed and London and Paris were caught red-handed stealing German gold

- the NYFed told German Parliament leaders to get lost, when they requested to inspect their own gold

- it revealed the USGovt banker officials as running a crime syndicate

- to return only 5 tons of their 300 from the NYFed is a travesty

- A high level contact at one of the world’s leading private refineries provided me with the USDept Treasury Status Report Owned Gold data:

31 Aug 2000 — 54.097 moz West Point NY Gold Bullion Reserve (1681 mtons)

30 Sept 2000 — 54.067 moz West Point NY Custodian Gold Bullion

30 Sept 2002 — 54.067 moz West Point NY Deep Storage Gold

This is the  SMOKING GUN on the gold hypothecation seizure heist con game

- the German demand started a severe process of mass drainage for NY vaults, ETFunds

- Germans are turning Eastward as a result, to Russia & China in forged alliances

- COMEX gold inventory & JPM eligible gold inventory both show 50% or more declines

- GLD ETFund gold inventory down to over 35% from peak, now at 2008 level

- The German repatriation request spawned a new war in Mali whose gold output matches the pace of promised returned gold from France!

- It started scrutiny over Swiss Allocated Gold Accounts, new demands to redeem

- Strange connection to Panama private gold depository for European private clients


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The Doc then asked Willie his thoughts on Bafin’s investigation of PM manipulation, considering the fact that Elke Koenig, the president of Germany’s top financial regulator, claimed last week that precious metals manipulation “is worse than the Libor-rigging scandal”  and his view on the significance German manipulation probe as well as Deutsche Bank exiting the PM fixing business:

-Unlike the SEC & CFTC, German BAFIN is not run by banker harlots and placed insiders, rather reputable

-BAFIN has a history of not dropping an investigation once begun, and seeing it to end

-German financial legal authorities are working closely with Interpol Serious Fraud Division

-Germany is prosecuting Western bankers, while turning alliances East to Russia & China

-The London LIBOR fraud has finally reached both the FOREX and Gold markets

-Entire high level markets on cash, currency, gold are all hopelessly corrupted

-Deutsche Bank has been exposed for massive sovereign accounting fraud related to EMU Maastricht

-Several nations falsified their debt accounting with DBank collusion, for common Euro entry

-Risk DBank to start a strict accounting, legal scrutiny, and possible sequence of bank failures

-My German banker source indicates DBank will be broken up into about five parts

-Impact of DBank breakup cannot be accurately gauged or anticipated, except disruptions

 

The Doc then asked the Golden Jackass whether his sources could validate rumors of London gold being drained Eastward:

-My sources confirmed that from April to July 2013, a ripe 1000 tons per month was drained from London to East

-Word came in November 2013 that the 1000 ton per month pace never stopped

-Do the math and you arrive at 20,000 metric tons approximately have moved out of London & Switzerland

-The entire Swiss refiner story overlaps and coincides with the massive drainage

-My source has advised me that legacy Asian gold was improperly used in Southern European sovereign bond derivatives upon the origination of the European Union

- There are now widespread stories of official London gold vaults being emptied

-Compliance with Chinese bar standards is part of process, in kg bars with 9999 purity

-This implies China is preparing for a gold-backed trade settlement system, even Yuan currency

-The BRICS conversion of USTBonds to Gold Bullion is already well along

-Always the migration trends are reported after the fact

 

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The Doc noted that the largest English-language portal in East China, Shanghai Daily, stated this month that the Chinese central bank is on the verge of announcing its gold holdings have nearly tripled from 1054 tons to 2710 tons, and asked Willie whether he believed the Chinese announcing they have tripled their gold reserves will shake the market:

-The Chinese will not yet reveal the extent of their gold reserves, and the market will likely yawn at their report

- Syria, Iran Pipelines, Chinese military protection, & peace talks with Tehran, are all tied together

-Watch Iran to become the stable axis with China in the Persian Gulf

- Petro$ Demise is tied to Saudi instability, while Petro-Yuan birth tied to Iran revival

- It is clear as a church bell that US, Saudis, Al-Qaeda all from the same camp alignment

-My source claims that the MENA disruptions on Arab Spring are to steal central bank gold

- The same source claims the Saudi gold is being hypothecated out of London & Switzerland

-The transition in Paradigm Shift from Petro$ to Petro-Yuan is manifested in gold movement

 

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  1. Here’s news:
    CEO of BitInstant (the Bitcoin guy) has been arrested in NYC on money laundering charges.
    So, I guess all the holders of that digital 010101010110101010101010 can shove it up their asses to keep those bitcoins warm, huh?
     
     http://www.businessinsider.com/report-ceo-of-major-bitcoin-exchange-arrested-2014-1
     

    • I am jealous I missed the boat initially, but anyone who can’t see GUNTcoin is frought with peril will likely get their asses handed to them at some point. The fact that the history of each bitcoin has to be intact and traceable from the time it is mined in tells me that at some point, the feds will start OWNING guys for capital gains.

    • Hey Dirt, have you read Bix Weir lately?  He has been touting the bitcoin like he was given royalties up the wazoo if he would shill for them.  I like his thinking on some things, but his “run out right now and get some fast” bothered me. In any case, the latest downward pressure (I sound like a doctor, huh) on silver is right up my alley.  Hell, if it goes to single digits, it will be just right for me…  I won’t be under water until it hits 15 per oz.

    • What we are witnessing is “paper” going to its true worth but due to incredible leverage drags down the “real” bullion along for the ride.  What we really need is Glass-Steagall to be put back in place and free gold and silver from the 60:1 ponzi.  This would allow them to reach their true worth whether that’s $10 or $10,000.

  2. Well don’t know where to put this, so, putting it here. Please feel free to pass this information on.
     
    I have received a letter from one of my bullion suppliers (Metalor, member of the LBMA), stating that they have to add £100 to each order to cover production costs!!!!!
     
    Each costing, consists of a standard base price, plus a percentage margin of spot, including the Spot. This was as far as I was concerned, the All in costings, including production costs.
     
    Now, does this sound like a disconnect with the LBMA spot price, because it does to me!
     
    Just to put this in perspective, they don’t allow orders of less than 1 kilo of silver, so say, your putting in an order of 20 kilos of silver..
     
    each 1 kilo bar would cost £450 approx so times this by 20 equals £9000 which is about 1.1% added to the order. 
     
    This is incredible. Is the wait over? Has one of the big European refiners hit the wall? watch this space!

    • @WaitingForSilver

      Can you post this letter somewhere? I’d love to see the details, I don’t see how, at least as you have posted, this does much? As you imply, the net benefit to metalor varies with each order, sometimes higher per oz, sometimes lower,

      Why not add a charge per bar if they were really trying to recoup production cost?

      Not saying this didn’t happen, just would love to see more details.

    • @mikeyj80
       
      Yeah, can do, in work at the moment, will get a picture and post it under this post later on this evening, its 8.42am at the moment, but keep an eye on this post and will get you “proof”.
       
      I have also sent an email to my contacts at Metalor to get this cleared up, because it makes no sense at all. Will post their reply.
       
      All I can say is that there is a disconnect in the market, if they start introducing “fees” on top of “fees”. I think the production model has been broken since April 2013, they can not make money at these current spot prices.

    • I just received an email. Apparently they also do a findings service for Jewellery, I got mixed up in the mail shot. False alarm, apparently jewelers don’t put in orders of over 1 kilo and its costing them money. Who would have thought.
       
      Anyway, as I deal in Bullion and always orders of over the minimum required, they won’t charge me. 

    • @WaitingForSilver

      Thanks for the clarification, and the proof was less important to me than the structure of their offering.
       
      If they said it is £100 per bar extra to cover costs, well then that is something, but just tacking it on to the whole order does little more than give them a processing fee as a bigger order would dilute the benefit of this surcharge (ordering 100 bars for example would take it to a £1/bar surcharge.
       
      Thanks again, and if for nothing else, allowing me to learn a bit about creation of gold granules by reading their website, that was fascinating to me,

  3. My two cents worth. 
    We need to get this crazy silver speakers world to one place.
    I’m thinking The Hyatt Grand Casino Lodge, Incline Village. 
    Nice hotel. I know the GM. Room rates are reasonable.  Good sized break out rooms, nice restaurants,  loose slots and a reasonable rake at the Texas Hold’em tables. (I will whip anyone’s ass who tries to take me at that game)
    So Willie, Turd, Bix, Doc, Eric D,  Sovereign Economist, Pat Fields and willnotbeaslave as the speakers.  
    I’ll get some stand up talent from friends  in the art community to perform.
    Maybe I can get  Mark Twain to perform,  giving his tales of Tahoe, and adventures in the silver business around 1861. 
    And so on and so on.
      Intimate, friendly, just a bunch of friends and like minded folks talking silver.  Maybe a day trip to Virginia City, home of the Comstock Lode.
      If we get some snow maybe Lake tahoe would be a nice boating accident waiting to happen. Otherwise the lake will be too low to cover your phyzz.  Or butt.

  4. I’ve read about the Dept. of the Treasury’s “Deep Storage Gold” category for a few years now.  Very interesting.  Of course the Treasury Dept. has a different definition than ‘gold buried in the ground’.  Treasury Dept. contends it’s gold sealed in vaults.  They check the seal once a year.  If the seal is unbroken they assume the gold is still in the vault.  You don’t think they would lie about that do you?

  5. Saudi gold being rehypo’ed  Wow
    Chinese legacy gold rehypo’ed  Wow
    If Chinese agents are looting the LBMA and City of London gold banks, they are probably not even having to pay for it
    It’s theirs. Period. Give it bank.
    German gold is being routed to Switzerland for refining and then to China
    Turkey is being severely punished for infidelity to the Western Powers due to it’s cozy relationship with gold
    Moral of the story
    Follow the gold

    • Yanno, it’s funny… as I finished listening to Jim, I was reflecting on some of the interviews that Chapman and I used to do…  when we first started our shows, I used to find myself dumbfounded and speechless at some of the things he’d tell us — which was a really embarrassing thing for me to endure as a radio host!   LOL!   But, it didnt’ take too long for me to get to the point where nothing surprised me any more.  For example, Chapman knew about the diversion of the Chinese gold, (it was actually LOANED to the LBMA)   Barrick laundered the Yamashita gold too… which supplied Black Ops with about 40 years worth of capital for there skunk works and even more ‘smelly’ ops…
       
      Anyway, as I listened to Willie, I kept just nodding my head, Yup….. yup….. uh huh…. yeah, makes sense…… that figures…. 
       
      None of this crap is new!   This stuff has all been going on for a very long time… what makes his stuff so sensational is that it’s all starting to come out now… like explosive diarrhea, the crooks scams are sh*tting all over everything.  It’s just a blast to sit back and listen to one thing after another and laugh at their unraveling….
       
      I gotta say… it’s just WONDERFUL to FINALLY hear of this stuff finally seeing the light of day!

    • “Follow the gold”
       
      Indeed, AG.  So… what happens when the oil & gas producers of the world stop accepting paper for their products and DEMAND phyzz?  Tough noogie for those who only have paper!
       
      I can see it now… “Fill your tank, mister?  Only an oz. of silver… or $1,000 in fiat“.  ;-)
       

  6. Third of Swiss banks seek US tax amnesty

    The top US tax prosecutor says 106 Swiss banks are seeking US amnesty for helping American clients evade taxes.
    US prosecutors gave more than 300 Swiss banks until December 31 to seek non-prosecution agreements if they have “reason to believe” they violated tax laws. Banks must disclose how they helped Americans hide assets, hand over data on undeclared accounts and pay penalties.
    The programme is the largest assault in a five-year US crackdown on offshore tax evasion.
    Kathryn Keneally, assistant attorney general in the Justice Department’s tax division, disclosed the number yesterday while cautioning that the final figure could change.
    She did not name any banks seeking entry into the programme, which is not open to 14 already under criminal investigation, including Credit Suisse, HSBC and Basler Kantonalbank.
    “She said 106 Swiss banks had signed letters of intent,” said Bryan Skarlatos, of Kostelanetz & Fink in New York, who heard her speak at a conference in Phoenix, in the US state of Arizona.
    “That was more than most people expected. It’s a result of the banks’ desire to have some certainty regarding their status with DOJ. I believe that DOJ is pleased with the response to the programme so far.”
    Keneally declined to comment on the amnesty programme after speaking to the American Bar Association’s taxation section.
    “She said that every new bank in the programme is a new source of information, especially on where the money went, either to other Swiss banks or banks around the world,” said Josh Ungerman of Meadows Collier Reed Cousins Crouch & Ungerman in Dallas, Texas. “She said there are a lot of avenues to get information, and some are visible and some are not so visible.”
    Banks in Switzerland, the largest cross-border financial centre with US$2.2 trillion of assets, closely examined accounts before seeking to join the disclosure programme.
    “The takeaway is the US has been successful in getting Swiss banks to really start co-operating and enter into non-prosecution agreements,” said Martin Press, a tax lawyer in Florida.
    The Swiss government encouraged banks to join the programme, announced in August. The Swiss Bankers’ Association criticised the programme’s cost and vexing questions, such as who qualifies as a US client and what assets are considered untaxed. The answers could determine how much a bank pays in penalties.

    • There is no honor among banksters.  Once one of them flips and starts blabbing all they know for leniency, others will quickly follow for fear of being left out.  With luck, maybe 20-25% of them will escape prosecution (but not hefty fines) in order to convict, fine, AND jail the other 75-80%.  This is not a bad deal.  Not perfect by any means but not at all bad considering how few of these cretins ever get what they deserve.
       
      “The Swiss Bankers’ Association criticised the programme’s cost and vexing questions, such as who qualifies as a US client and what assets are considered untaxed. The answers could determine how much a bank pays in penalties.”
       
      I can see their point.  How would they know whether an asset has been taxed by a foreign government or not?
       
       

  7. January 16, 2014

    The U.S. government says it will run out of money to pay its bills in late February, a bit sooner than first thought.

    In December, Treasury chief Jacob Lew wrote to congressional leaders that the borrowing limit would be reached in late February or early March. But on Thursday, he urged Congress to raise the country’s borrowing limit again by the end of February, to make sure the country does not default on its debts.

    The U.S. has accumulated $17.3 trillion in debt over the years and the figure grows by the day. The government suspended limits on the debt ceiling in October, but is reinstating it on February 7. At that point, Treasury officials can use what they call “extraordinary measures” to keep paying the country’s bills even as it edges closer to running out of cash.

    In recent years, raising the country’s borrowing limit has led to contentious political debates in Washington. President Barack Obama, a Democrat, is seeking an increase in the ceiling without conditions, saying that new borrowing authority is needed to pay debts that have already been incurred by the country. His Republican opponents in Congress want more spending cuts before approving another increase in the borrowing limit.

    The leader of the Republican-controlled House of Representatives, Speaker John Boehner, said he does not know how any negotiations over the debt limit will play out, but that under no circumstances should the U.S. default.

    “All I know is that we should not default on our debt. We shouldn’t even get close to it,” he said.

    U.S. spending and debt issues have proved contentious during Obama’s five years in the White House, but Congress is on the verge of approving a compromise $1.1 trillion government spending plan for 2014 that he supports.

     
     
     
     
     

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    • From what I have seen of the political activity in DC, we should all just vote only for Dems.  They will do whatever they want with taxing, spending, and borrowing.  The country will then collapse.  If we vote for Repubs, they will resist the Dems for a while, and then cave in to whatever Obama demands.  Why not just vote Dem and save ourselves the drama?  Nothing will change either way, although voting Repub MIGHT give us a bit more time to stack and prep before the SHTF.  That in and of itself could be of some value.
       
       

  8. I have no inside information as to the uberwealthy`s plans, but rest assured they have plans. Due to some recent physical problems, I`ve seen some daytime TV lately. Im usually working, but can`t now for a while. On the news channell, FOX, CNBC, etc, I`m completly astonished at the firms I`ve never heard of before selling Gold and Silver on TV. And common sence tells me they can`t keep buying air time if the add`s didn`t work.
     
    It does feel like the pace is quickening, like possibly some unavoidable event is drawing nearer.
    And honest to god, why would some otherwise sane individual, want to be Presidnt of these United States. It doesn`t pay that well (up front pay). People harrassing you every step of the way. Burning you in effogy all over the planet. I wouldn`t take the job for love drugs sex or money.  Please exscuse me, my mind wanders, it must be the meds. Sighning off for now.

    • @Silver Dollar
      What blows me away is all the places with signs up “WE BUY GOLD AND SILVER”
       
      You go in and ask what they’ll pay…. DIRT CHEAPSKATES.  I asked a couple of these outfits why they were paying so little.  The reply?  That plus 5% to 7% is all they can get for it.  I offered them 10% -12%!!!!   Was told they are under tight contracts with their buyers!!!!  Maybe BS, but…. interesting…..

    • @Silver Dollar
       
      Sorry to hear that you are having physical problems and are laid up.  Been there, done that, and it is NO fun at all.
       
      @AGXIIK
       
      To a psychopath, power IS the ultimate aphrodisiac.  Groupies help with that.
       
      “Or so it seems with the last 10 or so who occupied the Oval Office”
       
      Or, in their case, the oval orifice.
       

  9. “My German banker source indicates DBank will be broken up into about five parts”
     
    What a splendid example to follow.  The same should be done with:  Bank of America, JP Morgan Chase Bank, Citi Bank, Morgan Stanley, and Wells Fargo Bank.  In fact, ALL US banks should be limited to a size smaller than can threaten the US economy if they go bankrupt.
     
    “The Chinese will not yet reveal the extent of their gold reserves, and the market will likely yawn at their report”
     
    No, they will not, nor the amount of any other strategic resource they hold.  It is a state secret of the highest order.  As to any yawns generated, well, that’s all part of the disinfo program.  Make your opponents think you have a lousy hand right up until it is time to call their final bets.  Then, WHAM!
     
    “The same source claims the Saudi gold is being hypothecated out of London & Switzerland”
     
    One would think that the Saudis would be aware of all these shenanigans and would be taking the appropriate steps to negate the loss of their gold.
     
    “The transition in Paradigm Shift from Petro$ to Petro-Yuan is manifested in gold movement”
     
    Indeed.  But the part that is of paramount importance is that the Yuan very likely will be gold-backed by then, so it’s not merely paper seeking a real resource, such as oil or gas, but a currency that is backed by and exchangeable for gold bullion.  This is where China seeks to go because they know that the US cannot follow.
     

  10. 10,000 oz bars Jim?
    And if this was China’s gold to begin with, why recast it here before sending it over? Were it .9999(9) bars pillaged originally?
    EDIT : I may have misheard, got the impression LBMA was actively pushing the gold through CH Eastward.

    Would be interesting who China put pressure on LBMA which Germany failed to do in the US.
    Perhaps China was as blunt to offer an export embargo? That will make the UK got look real silly real soon. Try and go a week without Chinese products. Or Chinese take-out for that matter.

    Off-topic : went to the local Chinese supermarkter. Bought a kg bag of Curcuma (anti-cancer, anti-cardionvascular probs, anti imflammatory, and anti-radiation symptoms) for €3,95. A friggin’ deal. And tasts fine in most food anyway. Or drink it with cacao, cayenne pepper and honey for a superfood hotmilk or tea. Always take with pepper for absorbtion. Watch out, it stains badly.

    • Fair point. Although it’s been a while since I heard good tungsten updates.
      Also, claims of ownership might be a factor in older bars, considering multiple parties can (and do) hold warehouse slips for one and the same individual bar.
      Imagine you or an ally gets paid in gold, with a bar that was stolen from you previously. Does that constitute payment?

  11. Jim always gives a great interview. He’s one of the few I hear talking about the new “cold war” (USA vs. Russia, Germany and China). They’re starting to have a lot of trade between themselves (without us), and as soon as they get tired of our BS dollar they’ll stop buying our treasuries and using dollars for trade settlement. That’s when the SHTF. Be sure to have your silver stacked before then. When? Not even Jim knows – or he’s not telling. I’m always stacking. Better to be a year early than a day late.

  12. Ok folks, just had a brain fart, hear me out:
    We don’t see those 1,000mt/mo in China’s figures, WHY? Because it all is refined in Switzerland. Why don’t the Chinese do it themselves? Well, it would show up in trade figures. CH is more discrete. Germany may well be storing this gold on China’s behalf, in a deal to also get their hands on some phyzz. Perhaps an option to buy at $1500/oz for instance in 2016 or after the Chinese have done their thang.

  13. Thanks, Jim Willie, for the heads-up on the ‘Ancient Chinese Gold’.
    We read that when Francisco Pizarro gathered together (stole) the gold artefacts of the Incas in the 1500s, he melted all the gold down for easier transport back to Europe. We shake our heads at that, because those gold artworks would have been so much more valuable to European collectors than the melt value of the gold. Destroying those artefacts was an act of greed and vandalism!
    I then thought that, if gold is the ‘Barbaric Relic’ which the Bankers would have us believe, then there should be gold bars and other bullion dating from centuries ago still sitting in bullion vaults, and that some of these bars would have markings on them which could make them more valuable than the melt value of the gold. Jim Willie tells us, here, that wealthy Chinese families have stored ‘ancient Chinese gold’ in London vaults and are now getting just a little upset to find that it isn’t there any more! What might the markings on those ancient bars have told us?
    So it appears that, whilst the bankers tell us that gold ‘just doesn’t matter’, they have been busily raiding bullion vaults and melting and re-casting the gold! Now why would they want to do that with gold which ‘just doesn’t matter any more’?
    I can believe that although Germany has lost it holding of gold to the ‘Great Theft of Rehypothecation’ in order to uphold the value of the US dollar (with nothing in return for Germany! At least Gordon Brown sold our gold openly with again, nothing in return for the UK!) and can do nothing at all to recover Germany’s gold, the Chinese have, er, other ways to persuade the bankers to at least return the weight of the disappeared gold if they can’t have those ancient bars back.

     

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