The name of the "Roulette Wheel" is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political strategy fits right into the equation.
CDS are going to take down every major currency, making trillions for the players. It will in time turn on the USA as it is already operating against the financially weaker Illinois and New York debt.
The dollar, as it gains ground due to the mirror image of the euro, becomes weaker and weaker due to overvaluation with no fundamental legs. The dollar’s time will come.
The OTC derivative credit default swap is about to clean the clock of the world. Der Spiegel is right but the debt is there. It will not go away but only grow bigger. The situation is in the cross hairs of the richest people on the planet hell bent on getting richer. That is the message of the Dow dropping 1000 points regardless of how it happened.
Nothing the G-7 or G-20 does will stop the predetermined avalanche in the world of fiat currency. Armstrong is right in that when it comes time for the great coming apart it will be akin to the Big Bang.
You are either ready now, or there will be no chance of readiness. Right now ready means gold and gold equivalents. The last currencies to be attacked will be the Cando and the Swiss Franc.
It is all over. The fat lady has sung.
Respectfully,
Jim
Jim
The Mother of All Bubbles
Huge National Debts Could Push Euro Zone into Bankruptcy
Greece is only the beginning. The world’s leading economies have long lived beyond their means, and the financial crisis caused government debt to swell dramatically. Now the bill is coming due, but not all countries will be able to pay it. By SPIEGEL staff.
Huge National Debts Could Push Euro Zone into Bankruptcy
Greece is only the beginning. The world’s leading economies have long lived beyond their means, and the financial crisis caused government debt to swell dramatically. Now the bill is coming due, but not all countries will be able to pay it. By SPIEGEL staff.
It is difficult to understand how anyone in the US is optimistic about our economy, except of course the disinfo goons on this site. Of course the goons will learn very soon what stupid idiots they are, as this economy deteriorates, they will discover their paychecks value rapidly declining. They will learn the hard way, just like the sheeple.
ReplyDeleteMeanwhile, the dumb downed moronic sheeple hypnotized to their tv's are told everything is good and usurper president Barry Satero will take care of everything for them. And he will..:-)
When THTF, pandemonium will result, the sheeple will not know what to do, they will have valueless money and no credit, no food, no nothing...they should have listened to us..
I personally will be smiling...they should have listened and read rather than watched their tv's.
What we have already done is the equivalent of jumping off a cliff. We cannot go back we can only go down. We have so much debt we cannot pay it off. Like a massive credit card debt we are barely staying above water. We are borrowing to pay our minimum payment. It is inevitable that we will see greater inflation and it's companion higher interest rates. When interest rates get to about 10% the payment on today's debt would be $1.3 trillion a year. It is likely to be even more simply because our debt is skyrocketing so when that inevitable interest rate increase occurs our debt will exceed $15 trillion. We are in a trap: We cannot pay off the debt and we won't be able to meet our minimum payment on the interest of the debt. When that happens our options are very limited and none of them are good.
ReplyDeleteFirst off, we all know the MSM lies to us on a full time basis. That's a fact. If they don't lie, they could be accused of being silent when they should speak out. American Broadcasting Company is owned by Disney. If tomorrow, Mickey Mouse were to tell us that he's gay and Minni Mouse is just his cover story, ABC would not only refuse to report this, they would produce a 20/20 segment that says it's simply not true.
ReplyDeleteMy brother still has a job. Not long ago, he told me that he is "broke". I have no idea how he defines "broke", but broke, he is not. He has a Dish TV system and does sit on front of his TV when not at work.
- He has no idea what a Credit Default Swap is.
- He has lots of cash in his 401K and believes it's safe. That's what all the Enron retiree's thought til their life savings, all tied up in Enron, vanished in a matter of days.
- I can tell him till I'm blue in the face about the imminent arrival of the Second Great Depression and he can't see it coming.
When someone is about to die, nurses and doctors call for the "Crash Cart". It's full of wonderful stuff that jump start a life. This country of ours is about to go flat-line and our national "Crash Cart" can't be found.
Harmlessly passing your time in the grassland away
ReplyDeleteOnly dimly aware of a certain unease in the air
You better watch out
There may be dogs about
I've looked over Jordan, and I have seen
Things are not what they seem
What do you get for pretending it's not real
Meek and Obediant you follow the leader
Down well trodden corridors into the valley of steel
What a surprise
The look of terminal shock in your eyes
Now things are really what they seem
No, this is not a bad dream
Roger Waters (Pink FLoyd)
If you already have land, tools, skills and such - then Gold can be smart. But you can't eat gold. And the desperation for basics is going to be so great as America implodes that people will be shooting each other for food, water, gas, medicine and etc.
ReplyDeleteLike I said in the last post it is worth repeating...
ReplyDeleteAll I know is that It is going to be raining some serious lead in the US from coast to coast very soon... Blood is going to flow in the streets ankle deep! Both Tyrants and Patriots are going to fall as the tree of liberty gets refreshed.
At least the Mayans were more civilized about it with their blood sacrifices..
This comment has been removed by a blog administrator.
ReplyDelete9:03 - yes, we are trying to grab tiny branches on the way down, but it is pointless.
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDelete@11:50AM
ReplyDeleteJust say how you feel. lol
12:18 is essentially dream substance. He's like one of those flukes that you come across in a dream that stands out as not making sense why it was there in any way since it didn't match anything else in the dream.
ReplyDeleteIf my dream was about a bunch of people I knew in the past he would be that weird sound in the dream that sounds like a very vague thump sound which you don't really pay attention to until you wake up and think, "That noise was a bit random."
1:12 Great analagy
ReplyDeleteLife is about balance
ReplyDeleteyou consume 6,000 calories a day and burn 3,000
you get fat
you make 3,000.00 a month and spend 4,000.00
you sooner or later go broke
you spend 10 hours a day in the sun
you get skin cancer
I don't really know if there's a God or not; I've never seen him or spoken with him - but the balance in me says I should meet him halfway - so I do.
Balance - it's really easy
It was once reported that (based on our economy of about 2-3 years ago) that if you were a family of 4 (papa bear, mama bear and two baby bears) and you earned less than $50K annually, life was harsh and difficult. The magic number seemed to be $50K, once you exceeded that, life was manageable. So the next question was, what about $75K, what about $100K? Once you hit these levels, you begin to focus on having more and more money. You work harder and harder, to earn more and more, but your actual, true, real, quality of life does not change, only your thirst for more and more money becomes more and more unquenchable.
ReplyDeleteI live in Southern California. I AM NOT a sports fan, but the MSM seems to think we all need to know about the pending divorce of the couple that owns the Dodgers. They are worth something like 1.2 billion dollars! I bet when they got married, they had a lot less and were happy with what they had. Then came the greed and the need to have more and more. The wife wants nearly a million dollars a month to maintain her "lifestyle". This couple to me, represents the corporate greed of Wall Street that will be the ultimate cause of the collapse of this country. The Wall Street crowd can never be satisfied with what they have, they need more and more, just like a junkie, hopelessly addicted to heroin, they can't stop themselves, until they finally overdose and die.
In my finest hour, my highest earnings in one year was $42,000.00.
I hate to see it end this way...
I think Jim summed it up well. I hope you guys stocked up on food, water and ammo.
ReplyDeleteCrisis what crisis ?
ReplyDelete“Get real” as Charlie Chuckles the Ostrich would say.
“Everything fine in La la land .No wukken forries .The great Satan is invincible .
This is the only economy Charlie knows that exists in his own mind an economy that has clearly no connection with other economies. Only fat finger problems in a fundamentally sound world economy.
But why is this happening?
"EU Finance Ministers Race to Ready Euro Fund Before Asia Opens
"May 9 (Bloomberg) -- European Union finance ministers meet today to hammer out the details of an emergency fund to prevent a sovereign debt crisis from shattering confidence in the 11- year-old euro. Jolted into action by last week’s slide in the currency to the lowest in 14 months and soaring bond yields in Portugal and Spain, leaders of the 16 euro nations agreed to the financial backstop at a May 7 summit. They assigned finance chiefs to get it ready before Asian markets open later today European time.
“We will defend the euro, whatever it takes,” European Commission President Jose Barroso told reporters in the early hours yesterday after the leaders met in Brussels."
This is part of a financial war by the dictatorship of capital against bankrupt countries and peoples unable to keep up their debt payments and resisting Austerity being imposed by capital to save their bond incomes and ensure their derivative bets are backed up by governments. “Too big to fail“ bailouts.
Even international bailouts.
This war is labelled a “Sovereign” debt crisis . But is actually the effect of the tendency of the falling rate of profit on capital playing out internationally .
Overproduction of goods that cannot be profitably sold combined with an over accumulation of past profits re- invested as capital but unable to get average returns and now that now functions as a speculative casino capitalism that has no connection with the real world .But valued as multiples of fictional values that have no chance of getting a real world profitable return on the capital invested or its debts . Just paper counting and gambling and looting of the Treasuries from the U.S to Greece.
One form of this war by desperate capital owners will be fought out as currency wars as financial blocs seek to save themselves by getting a stream of profit incomes from export trade.
But how will China and the US increase their exports -exchange of value to the biggest market in the world as the €is devalued relative to the $ and Yuan?
Printing Paper?
Currency Wars turn into Trade Wars and policies of ‘beggar your neighbour’ could arise for even poor Charlie Chuckles now living in denial and faith in the strength of great Satan Usury and its Dollar Hegemony Empire in backwoods america.
Previously, I have always listened to and respected the words of Jim Sinclair. However, his prediction of gold "shooting to the stratosphere in three days" NEVER HAPPENED. I suppose we have to take even his advice with a grain of salt. Keep preparing, storing, reading and listening. All is NOT well in our great country.
ReplyDeleteI saw the article 659am, but I don"t remember him saying 3 days. I"ll go back now and see >
ReplyDeleteI just reviewed his article. He said it would start going through the roof in a few days. Well it is going up per day. If it continues this week, Well? If the gallon of gas was going up 5 or 10 cents a day for a few weeks thats through the roof. No? You tell me.
ReplyDeleteAren't we all
ReplyDeletehere is my simple question. prepare for this prepare for that. but days come and go and everything is where i left it yesterday. all these
ReplyDeletepredicting but when does it fucking happen already?
July 14th 2010.
ReplyDelete7:23
ReplyDeleteyeak, ok i'll wait.
Everyone over twenty in US seems to be ga ga ,
ReplyDeleteYour Blog is nice,
ReplyDeletebut i can see no solution in here.
What is save except gold? Can i invest into Tobacco?
In former times tobacco was always a save thing, it was a currency like thing because smoking is the last habit people will stop.