- Greek problem is not $3 billion, its $3 TRILLION IN DERIVATIVES– Will ISDA Allow Default?
- Greek default WAS NOT PRICED IN- Why a MASSIVE LIQUIDITY EVENT has been triggered!
- End Game for Greek Depositors- Are the Depositor Haircuts and Bail-ins Imminent?
- Bill Warns: Greece Is Going to Happen Here- The Credit System is Going to Collapse!
- Gold Will Get Your Wealth into the Next System After a Reset Occurs
- JPM Corners the Commodities Derivatives Market Adding $3 TRILLION
- COMEX Will Go Force Majeure Allowing JPM to Unwind Massive Short PositionBill Holter’s Full MUST LISTEN Greek Alert is Below:
My fear is we are not in 2008 anymore, the coming collapse will change the world order to one unrecognizable to today.
The U.S. is in fact “broke” as we spoke of at the beginning. The “realization” of this not only can happen but WILL happen. Sadly, because of how badly the U.S. has treated the world over these last years, we will be given no mercy when negotiating our bankruptcy.
It will be a real live wolf at our door!
I assume JP Morgan and the Fed are one and the same. There have been stories JPM has amassed 350 or more ounces of silver. We also know China/Russia/India have been huge buyers of gold. We now know JPM has increased their derivatives by over $3 trillion in just one quarter. It is obvious to me, they are the ones sitting on the paper prices of gold and silver. This would make sense for the Fed to attack the metals and thus support the dollar.
In fact, standard procedure in any war is to strengthen your currency while weakening your opponents. I believe the neocons know the bottom of our “gold barrel” is close at hand, they have decided to go ALL IN on price suppression.
I first wrote last August about the situation where huge open interest in the September contract dwarfed the available silver for delivery.
My speculation then as it is now, I believe somehow the bulk of the open interest in the nearby month is of Chinese origin.
Call it the Chinese “Kill Switch”:
Eric Sprott, Bill Holter, and Greg Hunter join TruNews’ Rick Wiles for a MEGA PM Round-table interview breaking down the Greek End Game, and how the collapse is likely to play out.
Sprott explains why the US and EU cannot afford the fallout of a Greek collapse and the nation turning to Russia, and why the banking cartel must avoid a Lehman style liquidation by any means possible...
Is the biggest financial debacle in human history ALREADY UNRAVELING?
Full MUST WATCH 60 Minute MEGA Financial Roundtable With Sprott, Holter, & Hunter is below:
For CNBC or any media outlet to downplay a Greek default is plain evil deceit at its core.
Greece owes close to 350 billion euros and when the amount of written derivatives are included we are probably talking well over 3 trillion euros!
Please remember when a “default” occurs, the “notional value” of derivatives positions becomes the true at risk amount. This was the problem caused by Lehman Brothers in 2008, derivatives which had been supported by margin alone (and very thin at that) saw margin calls explode and the demands of 100% notional payments began.
This is why no one, ever, can be allowed to fail. Because then the triggers are pulled and notional settlements begin …with a minor problem.
Derivatives simply cannot perform because they total more than the value of everything else added together on the planet.
“There is no such thing as a derivative that does not have an implied or defined interest rate characteristics. This is the chain that connects them all. That makes this problem larger than one quadrillion dollars…
Here is the concept you must understand:
Notional value of a derivative becomes real value of the derivative in the event of derivative bankruptcy.
This unwelcome change in the interest rates market, the bond market, is truly the GOD OF DEAT for the world’s financial system.
When the smoke clears, gold will be the only true measure of value (a definition of money) with gold’s only mechanism for price discovery being the now growing and transparent physical market, the paper market will be in tatters as will be the paper exchanges and paper public companies that own these exchanges.”
What I believe we will see is what we have always seen as a final result of fiat currencies, a collapse of confidence. Call it what you want, a deflationary collapse, or hyperinflation, the end result will be “confidence” in the U.S. dollar will collapse.
A break in the confidence of fiat currency will end with many currencies being replaced, this is a major part of your coming “re-set”.
Ask yourself this, in a financial collapse, “what will be safe”? Will your bank, broker or insurance company be safe, or even still solvent? Will our over indebted government be safe?
Will the pieces of paper or digital credits issued by this “safe” government and held by your “safe” institution …really be safe?
Everything these crazy gold bugs have been saying about the world from a “fiscal” standpoint has and is in fact coming to fruition. It has not happened “when” nor as soon as they believed it would (me included), because the current insanity of balance sheets could never have been imagined even 10 years ago …however, “timing” does not change “the ending”!
From Greg Hunter’s USAWatchdog.com
Recent Bloomberg analysis says if China backed its currency with gold, the price would need to be 50 times higher than it is today.
According to Bloomberg, that would be a gold price of around $64,000 per ounce, which is much more than gold expert Jim Sinclair predicted a few years ago. Financial writer Bill Holter weighs in, “That was a few years ago, before some of the QE, and Jim has said that $50,000 gold may turn out to be laughably low. . . .”
The U.S. (the West) has wanted low gold prices as a show or display that their fiat currencies were “good”.
Now, as the curtain goes down on the West, China will want a very high gold price in yuan for when the curtain rises again. A gold price maybe even higher than it should be will give the PBOC more power initially AND will allow them some room to inflate and grow.
As for the dollar and other Western currencies, they will be revalued downward versus the yuan which gives gold priced in dollars- a double whammy of repricing.
“This is going to be an overnight or over the weekend type of event where you have what you have on a Friday and you wake up on a Monday morning and you can’t trade anything and you’re locked in to your position.
So it’s absolutely imperative that you have what you WANT to have, because you won’t have a chance to change it…
Gold and silver are THE only monies out there that are not “credit based” or derive their values via the credit markets … markets which will ultimately will be closed!”
China and Russia are fully aware of the U.S. falling further and further into a weakened position, that time is running out before a financial collapse, and that a wounded animal often strikes in desperation.
I believe the process may have begun this past week.
Pravda posted an article over the weekend speculating China will very soon announce their gold reserves. The article
I have said all along I believed China would announce their holdings probably this year.
If this is the “pre pre announcement”, it is a very big number and one I believe only as an opening salvo.
Should China themselves make this announcement, please understand the “golden nuclear bomb” this would actually be.
The financial system of the West will be destroyed overnight!
There is now mounting evidence and undeniable proof that the world is actively preparing for economic life after the death of the Dollar.
Collapse of our current financial system is clearly coming. The question is, how bad will it get for those of us trapped in the United States, trapped holding only Dollars?
“My hope is that is doesn’t get this bad, but my suspicion is that it will get worse, where you have no access to ATM’s, credit is completely shut off, we may have power, water, electricity supply problems. What I’m going to tell you is, if you know how to, or can learn how to live like Davey Crocket or Daniel Boone, we may go through a period of time where that’s the case. I hope I’m wrong, I fear that I’m right.”