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October 22, 2014

Dr. Jim Willie: " A Calamity Is Coming" - Will Be "Exponentially Larger Than Any Collapse In The Past" 


By Susan Duclos


Perpetual Assets posts a scathing rebuttal from Dr. Jim Willie to a "rant" by Jim Rickards in an interview published by Greg Hunter which will be shown at the bottom of this article, where Dr. Willie addresses a number of assertions by Rickard, showing that Rickards has a "gigantic blind spot" because Rickards is "blinded by his enormous ego."

The assertions by Rickard that Dr. Willie is responding to as well as calling such notions "preposterous and delusional," shown below:

RICKARDS ON HUNTER WATCHDOG SHOW SPOUTED ABOUT MANY TOPICS… HE DOES NOT EXPECT CHINA TO BE IN POSITION FOR YUAN TO ACT AS RESERVE CURRENCY… HE EXPECTS THE INTL MONETARY FUND TO BAIL OUT THE CENTRAL BANKS WITH OVER $4 TRILLION IN SDR BASKETS OFF THE PRINTING PRESS… RICKARDS DOES NOT FORESEE THE CHINESE LAYING THE GROUNDWORK FOR A RETURN TO THE GOLD STANDARD (WITH YUAN IN PRIMARY ROLE), AS HE ONLY SEES A USDOLLAR HEDGE

Dr. Will takes it point by point in a must read epic takedown, a small sample of is shown below:

Notice all the Too Big To Fail banks have even greater concentration of assets than in 2008. It is therefore easier to lock down the few big banks if the goal is to limit withdrawals and access. The non-directional volatility in stock market is evident, big up and down moves on successive days. Rickards is certain of no rate hike by the USFed, as he is more afraid of deflation taking fast root. (Total agreement on ZIRP Forever.) Notice how Buffet bought several hard assets and sits on record level of cash (20%). A calamity is coming as certainty, but when it hits, it will be exponentially larger than any collapse in past. A progression is crystal clear. The 1998 LTCM failure was big, the 2008 Wall Street failure bigger, maybe in 2016-2018 the USFed will be in trouble with other major central banks for the biggest calamity. (USFed has been in deep trouble, near catastrophic trouble since the start of QE bond purchases.) Each crash is bigger, and each bailout bigger than the previous. The central banks are set to fail, but some entity must be ready and have huge potential to bail out the central banks.

The Intl Monetary Fund is big enough to bail out central banks, so Rickards believes. (The Jackass believes such a notion is preposterous and delusional, since the IMF is a hollowed out defunct pillar.) The IMF could produce $4 to $5 trillion in SDR basket units in a short period of time. Its offices contain a trading desk. (Huh? The IMF operates on member pledges, and currently is broke. If various high weight nations pledge $trillions, the entire FOREX currency system would quickly collapse, and might force a sudden double or triple in the Gold price, leading to sudden implosion.) All roads lead to hyper-inflation, the clear signal. The USDollar is going to fall versus the SDR basket of currencies, Rickards expects. (Such a notion is again errant, since the USD is the biggest component to the SDR. So the USD cannot fall versus itself in dominant team basket.) The IMF could conduct a rescue based upon a hyper-inflation exercise since it is a faceless edifice that can man the printing press, with offices on 19th Street in Washington DC. (The IMF will be converted into a Chinese tool for its purposes, likely to grease the ramp for a BRICS gold currency launch.)


In a recent interview with All News PipeLine, Dr. Willie addresses what the extreme wreckage of our current financial system will mean to the average American (that interview is the second video below) as well as providing more detail about Gold, China and what we see occurring economically around the globe, today.







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