dollar collapseJim Willie of GoldenJackass.com says powerful forces around the globe are working to do away with trading in U.S. dollars because of massive money printing by the Fed.
Dr. Willie says, “The world makes a reaction, and what they have done is create, slowly but surely, a U.S. dollar alternative for trade.” Dr. Willie’s sources say precious metals will be used to back a new currency and predicts, “The gold price will be $7,500 to $8,000, and silver will be between $150 and $250 per ounce.” This will be a disaster for U.S. Treasuries, and Jim Willie says, “All these Treasury Bonds will be sent back to the United States where they can choke U.S. bankers . . . they cannot refuse them.” Dr. Willie predicts “the economy will implode,” and he says, “I don’t believe we’re going to see garden variety powerful inflation. I believe, instead, we’re going to get large widespread cut-off of supply chains” as foreigners simply stop accepting the dollar. As far as dollar assets inside the U.S., expect widespread confiscation. Dr. Willie contends, “When the losses from the debt write-downs come, I see tremendous national wealth lost because private accounts are really just bank assets.” Join Greg Hunter as he goes One-on-One with Jim Willie.

 

 

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  1. Willie, Sinclair, Greg Hunter and SILDOC are my main resources of info which I find sound and very accurate.  If Dr. Willie is correct and he generally is on target, there will be millions in The States that will die not of food shortages but necessary medical RX.  I’m one of them even though I’ve tried to acquire a few extra months of reserve.  When no one will except the USD all supply lines will disappear over night and death and starvation will be massive.
    Thank you politicians and Wall Street!

    • Yes, those with medical conditions that require regular medication will, indeed, be in a very difficult spot when the supply chain breaks. Those with asthma and diabetes are especially susceptible to this, as they need medication very often if they are to survive.  Of course, in a SHTF scenario, life will be very difficult for many, impossible for some.  There will be a great many deaths from various causes.  Disease from bad water, dehydration, hunger, fighting over dwindling resources, and just general hell-raising, as well as lack of medication will all have terrible effects.
       
      While the US dollar could certainly collapse, that seems a long shot to me.  Not impossible, of course, but not highly likely, at least for some time.  Even if the US dollar were not acceptable to other nations, it would still be used inside the US for many things.  Other currencies would also come into play, such as gold, silver, and barter systems.  People would get into bartering for their needs pretty quickly, especially if they don’t have any other way to meet those needs.

    • Great article @RocketsRedGlare makes you really try to think what’s going on. I found this interesting.
      It is not working now.  The economic statistics are rolling over.  Employment, inflation, manufacturing activity and other indicators of the health of global economies are showing signs of instability and outright decline.
       
      So what do you do if you are trying to control this mess?  First, you put in place the ability to replicate Cyprus on a global scale.  Depositor’s funds will be used to protect the favored financial institutions.  Second, you promote the idea that stocks are overpriced to get positions converted back into the various forms of cash and fixed income.  Third, you mercilessly smash gold and silver so that you corner the markets for physical metals.  It is done with paper forms of the metal that have to be covered, and we are sure that it is being done right now.  If not, guarantees have been made to cover any losses.
       
      Once you have the wealth back at the financial institutions in the form of deposits and the supply of physical metals has been scooped up, that is the moment when the system reset could occur.  The Cyprus solution becomes applied globally.
       

    • That seems a possible scenario, Charlie, but my take is a little different.  I see Cyprus as a test case.  TPTB learned some things from their Cyprus test but still have more to learn before they can really apply the “new and improved” screw job to larger countries.  Yes, that will happen but probably not until after a number of smaller countries have been put through this wringer first.  I don’t see them jumping straight to an Italy or a Spain without first testing this in the smaller EU countries… which they will do.  Their attempt to rip off the small savers who have less than the “insured” amount in their accounts was clumsy and amateurish.  But they learned some things, even so.  The next couple of these Cyprus-like events will be more polished and sophisticated.  Don’t want to panic the sheeple just yet. That comes later… but for now, calming them is the way to go.  Removing a perceived threat, such as the theft of small accounts, is likely to be the 1st step.  That can always be un-done later… AFTER the whole world is in the death-grip of these bastages.

  2. Dump the bonds and buy Gold and Silver, what a unique thought, it’s a shame the West can’t do it. Shortages of food and goods and off course silver is going to make a lot of people upset. Keep Stacking (EVERYTHING) O! Take Your PM’s Out Of The Safety Deposit Box.

  3. I heard something kind of weird in the Willie interview
    He said the Patriot act made illegal the storage of gold in a safe deposit box  Does anyone know the specifics about this rule?
    BTW  Ranger 
    Born with and proud possessor of the ultimate RA. 
    I can etch steel, boil water and scortch the earth with mine.

    • The rental agreement for my CU SDB does not mention gold or silver under the list of prohibited things.  These are things that go boom, catch fire, can leak and make a mess, are corrosive, or are toxic.  Not surprising.  I would not want those things in a box next to mine, for sure.

    • Did you then ask him, “Well Why TF not?”.  lol
       
      The Walmart closest to my house is about 4 miles away.  We stop in there from time to time.  Lately, we have been able to park closer to the front entrance than we ever have before.  The lot is only about 1/4 full when it used to be about 3/4 full.  Their ammo supply is minimal.  Pathetic would be a better word for it.  I was in there a few days ago and they had about 2 dozen 20-round boxes of the usual deer hunting ammo… .270 Win, .243 Win, .30-30, a couple of boxes of 8 x 54 mm Russian but no .308 of any kind.  Also had about a dozen or so boxes of 20-ga and 12-ga bird shot ammo.  No .22, no .223, no pistol ammo of any kind, and no AK ammo.  They have a lockable glass case that can probably hold a couple of thousand boxes of ammo but has maybe 50 boxes.  Pitiful.  And the people running WalMart do not understand why their sales are falling through the floor.  LOTS of people go there to buy ammo… or used to.  While they were there, they shopped for other items.  With no ammo to speak of, there is now less reason to go there.  Everything that WalMart carries can be had elsewhere and usually closer.

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