- 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?
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. . . .”
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!
Gold expert Jim Sinclair, the man who called the 1980’s gold bull market top to the day, and predicted gold’s rise to over $1650 an ounce in the current bull run nearly a decade ago, has sent a MUST READ alert to subscribers regarding the latest gold and silver take-down.
Sinclair urges PM investors to STAY THE COURSE, stating that he is as fully committed to gold as he was when it traded above $1900, and that gold will indeed trade again at new all-time highs.
Sinclair’s full alert (which he warns will drive the internet gold trolls wild) is below:
With gold smashed to $1215, perhaps only a day or 2 from testing bear market lows at $1179 and silver plunging through substantial support at $18 to place new bear market lows Friday, legendary gold trader Jim Sinclair sent an email alert to subscribers stating that today’s trading action is “a classic example of “Popular Delusions, and the Madness of the Crowd.“
On a day when Alibaba IPO’d in the US with a market cap surpassing Walmart, Sinclair advised PM investors to study history & check their emotions at the door, stating that This is a period of time when major market changes have a high probability of happening, and that Today is a day that should be memorized.
Sinclair’s full MUST READ market alert is below:
Legendary gold trader Jim Sinclair sent out an email alert to subscribers Monday night regarding the manipulative dump of $1.3 billion in paper gold on the week’s COMEX open.
Sinclair, who called the top in the last gold bull market to the day, stated that Monday’s gold take-down was to allow the bullion banks to cover their shorts, and to initiate and expand long positions in advance of gold’s coming bull rally.
Sinclair, who has long stated that the entities that will make the most during gold & silver’s massive secular bull markets are the very bullion banks who have been naked short throughout the duration, warns that the bullion banks are GOING LONG HERE AND NOW!
Sinclair states that long term cycles in gold are turning positive and that this was likely “the last take down before gold trades at new highs“.
Sinclair’s full MUST READ alert is below:
No rise came on either June 26th or the 27th; but arrived on the LAST day of the month June 30, 2014!
Today July 1, 2014 Gold made a new intraday high, only to close DOWN $0.80 on the day. June 30, 2014 ends as the TOP and last day up.
Next a Drop into a Summer Final Low and ‘Buy-of-a-Lifetime’ opportunity!
Legendary gold expert Jim Sinclair sent an email update to subscribers this weekend, detailing 30 reasons why the nearly 3 year bear phase in gold & silver ends this summer.
Sinclair, who called the end of the last secular bull market in gold the day before the top was placed (and worked overnight selling his entire position) and also predicted the current secular bull at the bottom nearly 15 years ago, believes the next leg in the bull market in gold which will ultimately take gold to new all-time nominal highs (Sinclair believes possibly as high as $50,000/oz) begins THIS SUMMER.
Sinclair’s full MUST READ alert is below:
Legendary gold expert Jim Sinclair has significantly reduced his public commentary over the past 6 months, reserving most of his advice for those willing to attend Sinclair’s financial meetings across the country- likely due to the fact that many new PM investors lam-blasted Sinclair over his incorrect short term call in 2013 that support in gold would hold at $1600.
Sinclair, who in addition to his role as CEO of Tanzanian Royalty Exploration, is also the Executive Chairman of the new Singapore Precious Metals Exchange, was recently the Keynote Speaker at the 2014 Hong Kong Mines & Money conference.
Sinclair discussed how to avoid the coming Western financial system bail-in, the role of gold in the coming crisis, & banking with the BRICS.
We highly suggest that readers check their emotions and biases at the door, and view the entire MUST WATCH Keynote address below from the world’s foremost big-picture expert on gold & the financial crisis: