Friday, December 16, 2011

Here's to Jim Beam, Gold & Silver, Indentured Servitude, & 40% Unemployment

Guest Post, from AGXIIK:

When the bigs like Jim Willie note SD was way ahead of the game on these insights you are going to attract some attention. SD was two days ahead on the Sinclair piece. Great work!
I scarcely know where to start after reading Willie's latest. I'm going to have a nice balanced breakfast. I'll float a Cheerio on my breakfast bourbon.
First off, I will admit that some of what I wrote previously might be wrong--- Hell, maybe all of it is wrong.
The situation is way worse than I thought.
Maybe the Fed can't bail them out. There is just not enough money in the world to fix these multi trillion dollar problems. It took $800 billion to stop the Lehman collapse. The Fed has shot so much FIAT ammo over the last few years that they have nothing but blanks left. These problems even minify BHO, Mr Class Warfare.
When OWS and 100 times as many others start showing up like Greek and Italian Unionists and Pensionistas, there will be warfare. When we Americans are forced to see this world wide wreckage like some horrible version of "Scared Straight' vomited onto our front doors, there will be class warfare
The mini audit of the Fed showed a $16 trillion bailout of US and EU. That was small change compared to what's coming.
If the ECB does start printing and for no other reason than the 'hiding in plain sight' hint that the Fed won't print, they will hyper inflate the Euro. Even a consortium of banks including BOJ and the China might not be able to stave off the inevitable.
Gold is being looted on a wholesale basis. Hugo's a believer. Bring home our damn gold!! All of it! No wonder Hugo is armoring up his country. Putin is repatriating Russian gold--buying on the open market or stealing where he can.
The Euro zone economy is $16.5 trillion dollars, larger than our economy. Their banks are equal size to ours. If ECB prints then every EU country will want a piece of the action, hoping not to be left out. All will know the emperor has no clothes. No clothes? That's a laugh. Even German may pile on if their banks start collapsing.

The haircuts on bonds will strip-mine trillions of value out of central bank vaults including the $500 billion we hold in Euro bonds. If Greek bond haircuts begot MF Global BK and the JPM theft of PM, what will Italian insolvency beget? 50% haircuts of the entire Euro bond market? Maybe it's already happened and that late night bailout that Willie noted bought a little time.
I know from my training that if a person in the water is drowning, don't kill yourself trying to rescue them. Sometimes you can't save someone if you sacrifice members of your team to do so. But the whole world seems to be drowning. We, the people, can't save them.

It's pretty clear from what Jim Willie notes that the PIIGS are selling gold like crazy Germany supposedly has over 3000 tons. That might buy a little time, if they still have it to sell. If Canada has given up and allowed her gold and silver to be looted then even  Sprott's PM stash is not safe.
That safe haven is no longer safe. If Canadian troops don't force open the vaults, ours will.
So how's that NWO working out? BHO wouldn't even be welcome to serve coffee to these overlords. (That was Bill Clinton's comment on BHO in 2008) As much as I reject the idea of some vast unseen power elite pulling the strings, someone somewhere must see a profit to all this misery and failure.Anyone will some notion of this please weight in. There's always someone working the strings. This planet is too small to hide out on.
Earth, the largest debtor prison in the known universe-- and we get to pay it off
Well, here's to Jim Beam, gold and silver, indentured servitude and 40% unemployment in our future. I hate it when I'm right and I hate it when I'm wrong if in the end this all rotates into some Galatic FUBAR!!