The ‘Robbing And Raping’ of Greece By Wall Street Banksters!

Constitutional Lawyer Bruce Fein: Why A Revolution Is Coming!

Bob Chapman: The Illuminati’s Control of The MSM !

Alex Jones: Global Stabilization – We’re in The Final Phases of The Takeover!

The Federal Reserve Cartel: The Eight Families!

The Western Illuminati Organization Chart. Source: http://www.stevequayle.com

• Who are the real rulers of this world? They are the 13 Satanic bloodlines. They owned easily 80% of the world. What they don’t own, they are using fraudulent finance and western governments (which they owned) to steal it from the sheeple. Practically, all major multinational corporations (MNCs) are owned/controlled by these Illuminists. Do not be deceived, the ‘god’ of this world is Satan. He appoints his minions: seed of the serpent as kings / rulers / CEOs / Presidents / Judges… etc.. The real world is organized as above Illuminati organization chart! And not the illusion you have been sold in the MSM or public education, history books…etc
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• Here is an excellent piece of work by Dean Henderson. Next Week: Part II: Freemasons & The Bank of the United States.
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  The Federal Reserve Cartel: The Eight Families
  by Dean Henderson Global Research 
  (Part one of a four-part series)
  The  Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup  and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal  Dutch/Shell, BP Amoco and Chevron Texaco); in tandem with Deutsche Bank,  BNP, Barclays and other European old money behemoths.  But their  monopoly over the global economy does not end at the edge of the oil  patch.
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  According  to company 10K filings to the SEC, the Four Horsemen of Banking are  among the top ten stock holders of virtually every Fortune 500  corporation.[1] So who then are the stockholders in these money center banks?
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  This information is guarded much more closely. My queries to bank regulatory agencies regarding stock ownership in the  top 25 US bank holding companies were given Freedom of Information Act  status, before being denied on “national security” grounds.  This is  rather ironic, since many of the bank’s stockholders reside in Europe.
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  One  important repository for the wealth of the global oligarchy that owns  these bank holding companies is US Trust Corporation – founded in 1853  and now owned by Bank of America.  A recent US Trust Corporate Director  and Honorary Trustee was Walter Rothschild.  Other directors included  Daniel Davison of JP Morgan Chase, Richard Tucker of Exxon Mobil, Daniel  Roberts of Citigroup and Marshall Schwartz of Morgan Stanley. [2]
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  J. W. McCallister, an oil industry insider with House of Saud connections, wrote in The Grim Reaper that information he acquired from Saudi bankers cited 80% ownership of  the New York Federal Reserve Bank- by far the most powerful Fed branch-  by just eight families, four of which reside in the US.  They are the  Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the  Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of  Paris; and the Israel Moses Seifs of Rome.
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  CPA  Thomas D. Schauf corroborates McCallister’s claims, adding that ten  banks control all twelve Federal Reserve Bank branches.  He names N.M.  Rothschild of London, Rothschild Bank of Berlin, Warburg Bank of  Hamburg, Warburg Bank of Amsterdam, Lehman Brothers of New York, Lazard  Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Bank of  Italy, Goldman Sachs of New York and JP Morgan Chase Bank of New York.   Schauf lists William Rockefeller, Paul Warburg, Jacob Schiff and James  Stillman as individuals who own large shares of the Fed. [3]  The  Schiffs are insiders at Kuhn Loeb.  The Stillmans are Citigroup insiders, who married into the Rockefeller clan at the turn of the century.
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  Eustace Mullins came to the same conclusions in his book The Secrets of the Federal Reserve,  in which he displays charts connecting the Fed and its member banks to  the families of Rothschild, Warburg, Rockefeller and the others. [4]
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  The  control that these banking families exert over the global economy  cannot be overstated and is quite intentionally shrouded in secrecy.   Their corporate media arm is quick to discredit any information exposing  this private central banking cartel as “conspiracy theory”.  Yet the  facts remain.
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  The House of Morgan
  The  Federal Reserve Bank was born in 1913, the same year US banking scion  J. Pierpont Morgan died and the Rockefeller Foundation was formed.  The  House of Morgan presided over American finance from the corner of Wall  Street and Broad, acting as quasi-US central bank since 1838, when  George Peabody founded it in London.
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  Peabody  was a business associate of the Rothschilds.  In 1952 Fed researcher  Eustace Mullins put forth the supposition that the Morgans were nothing  more than Rothschild agents.  Mullins wrote that the Rothschilds,  “…preferred to operate anonymously in the US behind the facade of J.P.  Morgan & Company”. [5]
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  Author  Gabriel Kolko stated, “Morgan’s activities in 1895-1896 in selling US  gold bonds in Europe were based on an alliance with the House of  Rothschild.” [6] The Morgan financial octopus wrapped its tentacles quickly around the globe.  Morgan Grenfell operated in London.  Morgan et Ce ruled Paris.  The Rothschild’s Lambert cousins set up Drexel & Company in Philadelphia.
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  The  House of Morgan catered to the Astors, DuPonts, Guggenheims,  Vanderbilts and Rockefellers.  It financed the launch of AT&T,  General Motors, General Electric and DuPont.  Like the London-based  Rothschild and Barings banks, Morgan became part of the power structure  in many countries.
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  By  1890 the House of Morgan was lending to Egypt’s central bank, financing  Russian railroads, floating Brazilian provincial government bonds and  funding Argentine public works projects.  A recession in 1893 enhanced  Morgan’s power.  That year Morgan saved the US government from a bank  panic, forming a syndicate to prop up government reserves with a  shipment of $62 million worth of Rothschild gold. [7]
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  Morgan  was the driving force behind Western expansion in the US, financing and  controlling West-bound railroads through voting trusts.  In 1879  Cornelius Vanderbilt’s Morgan-financed New York Central Railroad gave  preferential shipping rates to John D. Rockefeller’s budding Standard  Oil monopoly, cementing the Rockefeller/Morgan relationship.
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  The House of Morgan now fell under Rothschild and Rockefeller family control.  A New York Herald headline read, “Railroad Kings Form Gigantic Trust”.  J. Pierpont  Morgan, who once stated, “Competition is a sin”, now opined gleefully,  “Think of it.  All competing railroad traffic west of St. Louis placed  in the control of about thirty men.”[8]
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  Morgan  and Edward Harriman’s banker Kuhn Loeb held a monopoly over the  railroads, while banking dynasties Lehman, Goldman Sachs and Lazard  joined the Rockefellers in controlling the US industrial base. [9]
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  In  1903 Banker’s Trust was set up by the Eight Families.  Benjamin Strong  of Banker’s Trust was the first Governor of the New York Federal Reserve  Bank.  The 1913 creation of the Fed fused the power of the Eight  Families to the military and diplomatic might of the US government.  If  their overseas loans went unpaid, the oligarchs could now deploy US  Marines to collect the debts.  Morgan, Chase and Citibank formed an  international lending syndicate.
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  The  House of Morgan was cozy with the British House of Windsor and the  Italian House of Savoy.  The Kuhn Loebs, Warburgs, Lehmans, Lazards,  Israel Moses Seifs and Goldman Sachs also had close ties to European  royalty.  By 1895 Morgan controlled the flow of gold in and out of the  US.  The first American wave of mergers was in its infancy and was being  promoted by the bankers.  In 1897 there were sixty-nine industrial  mergers.  By 1899 there were twelve-hundred.  In 1904 John  Moody – founder of Moody’s Investor Services – said it was impossible to  talk of Rockefeller and Morgan interests as separate. [10]
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  Public  distrust of the combine spread.  Many considered them traitors working  for European old money.  Rockefeller’s Standard Oil, Andrew Carnegie’s  US Steel and Edward Harriman’s railroads were all financed by banker  Jacob Schiff at Kuhn Loeb, who worked closely with the European  Rothschilds.
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  Several Western states banned the bankers.  Populist  preacher William Jennings Bryan was thrice the Democratic nominee for  President from 1896 -1908.  The central theme of his anti-imperialist  campaign was that America was falling into a trap of “financial  servitude to British capital”.  Teddy Roosevelt defeated Bryan in 1908,  but was forced by this spreading populist wildfire to enact the Sherman  Anti-Trust Act.  He then went after the Standard Oil Trust.
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  In  1912 the Pujo hearings were held, addressing concentration of power on  Wall Street.  That same year Mrs. Edward Harriman sold her substantial  shares in New York’s Guaranty Trust Bank to J.P. Morgan, creating Morgan  Guaranty Trust.  Judge Louis Brandeis convinced President Woodrow  Wilson to call for an end to interlocking board directorates.  In 1914  the Clayton Anti-Trust Act was passed.
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  Jack  Morgan – J. Pierpont’s son and successor – responded by calling on  Morgan clients Remington and Winchester to increase arms production.  He  argued that the US needed to enter WWI.  Goaded by the Carnegie  Foundation and other oligarchy fronts, Wilson accommodated.  As Charles  Tansill wrote in America Goes to War, “Even before the clash of  arms, the French firm of Rothschild Freres cabled to Morgan &  Company in New York suggesting the flotation of a loan of $100 million, a  substantial part of which was to be left in the US to pay for French  purchases of American goods.”
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  The  House of Morgan financed half the US war effort, while receiving  commissions for lining up contractors like GE, Du Pont, US Steel,  Kennecott and ASARCO.  All were Morgan clients.  Morgan also financed  the British Boer War in South Africa and the Franco-Prussian War.  The  1919 Paris Peace Conference was presided over by Morgan, which led both  German and Allied reconstruction efforts. [11]
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  In  the 1930’s populism resurfaced in America after Goldman Sachs, Lehman  Bank and others profited from the Crash of 1929. [12]  House Banking  Committee Chairman Louis McFadden (D-NY) said of the Great Depression,  “It was no accident.  It was a carefully contrived occurrence…The  international bankers sought to bring about a condition of despair here  so they might emerge as rulers of us all”.
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  Sen.  Gerald Nye (D-ND) chaired a munitions investigation in 1936.  Nye  concluded that the House of Morgan had plunged the US into WWI to  protect loans and create a booming arms industry.  Nye later produced a  document titled The Next War, which cynically referred to “the  old goddess of democracy trick”, through which Japan could be used to  lure the US into WWII.
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  In  1937 Interior Secretary Harold Ickes warned of the influence of  “America’s 60 Families”.  Historian Ferdinand Lundberg later penned a  book of the exact same title.  Supreme Court Justice William O. Douglas decried, “Morgan influence…the most pernicious one in industry and finance today.”
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  Jack  Morgan responded by nudging the US towards WWII.  Morgan had close  relations with the Iwasaki and Dan families – Japan’s two wealthiest  clans – who have owned Mitsubishi and Mitsui, respectively, since the  companies emerged from 17th Century shogunates.  When Japan  invaded Manchuria, slaughtering Chinese peasants at Nanking, Morgan  downplayed the incident.  Morgan also had close relations with Italian  fascist Benito Mussolini, while German Nazi Dr. Hjalmer Schacht was a  Morgan Bank liaison during WWII.  After the war Morgan  representatives met with Schacht at the Bank of International  Settlements (BIS) in Basel, Switzerland. [13]
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  The House of Rockefeller
  BIS  is the most powerful bank in the world, a global central bank for the  Eight Families who control the private central banks of almost all  Western and developing nations. The first President of BIS was  Rockefeller banker Gates McGarrah- an official at Chase Manhattan and  the Federal Reserve.  McGarrah was the grandfather of former CIA  director Richard Helms.  The Rockefellers- like the Morgans- had close  ties to London. David Icke writes in Children of the Matrix, that the Rockefellers and Morgans were just “gofers” for the European Rothschilds. [14]
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  BIS is owned by the Federal Reserve, Bank of England, Bank of Italy, Bank of Canada, Swiss National Bank, Nederlandsche Bank, Bundesbank and Bank of France.
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  Historian Carroll Quigley wrote in his epic book Tragedy and Hope that BIS was part of a plan, “to create a world system of financial  control in private hands able to dominate the political system of each  country and the economy of the world as a whole…to be controlled in a  feudalistic fashion by the central banks of the world acting in concert  by secret agreements.”
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  The  US government had a historical distrust of BIS, lobbying unsuccessfully  for its demise at the 1944 post-WWII Bretton Woods Conference.  Instead  the Eight Families’ power was exacerbated, with the Bretton Woods  creation of the IMF and the World Bank.  The US Federal Reserve only  took shares in BIS in September 1994. [15]
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  BIS  holds at least 10% of monetary reserves for at least 80 of the world’s  central banks, the IMF and other multilateral institutions.  It serves  as financial agent for international agreements, collects information on  the global economy and serves as lender of last resort to prevent  global financial collapse.
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  BIS  promotes an agenda of monopoly capitalist fascism.  It gave a bridge  loan to Hungary in the 1990’s to ensure privatization of that country’s  economy.  It served as conduit for Eight Families funding of Adolf  Hitler- led by the Warburg’s J. Henry Schroeder and Mendelsohn Bank of  Amsterdam.  Many researchers assert that BIS is at the nadir of global  drug money laundering. [16]
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  It  is no coincidence that BIS is headquartered in Switzerland, favorite  hiding place for the wealth of the global aristocracy and headquarters  for the P-2 Italian Freemason’s Alpina Lodge and Nazi International.   Other institutions which the Eight Families control include the World  Economic Forum, the International Monetary Conference and the World  Trade Organization.
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  Bretton  Woods was a boon to the Eight Families.  The IMF and World Bank were  central to this “new world order”.  In 1944 the first World Bank bonds  were floated by Morgan Stanley and First Boston.  The French Lazard  family became more involved in House of Morgan interests.  Lazard  Freres- France’s biggest investment bank- is owned by the Lazard and  David-Weill families- old Genoese banking scions represented by Michelle  Davive.  A recent Chairman and CEO of Citigroup was Sanford Weill.
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  … for the full article click here!

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WSJ: Greece’s Government Prepares To Sell Up To $42.9 Billion of Public Property To Reduce Its Mountain of Debt!

Sales of public land by Greece may include a concession to develop a luxury resort on the island of Rhodes, whose harbor and historic city center in 2007 are shown. The first properties could be put on the market in the next few months. Agency France-Presse/Getty Images

• The financial rape of Greece is accelerating. They are being forced to sell off their country to pay off debts owed by private banks. Why should the public be made to pay for debts of these banksters? The Greeks should do what Iceland did: vote NO, HELL NO and default! Who will buy up all these hard assets? Obviously, Illuminist banksters with the money. Hey, they create money out of thin air. They just enter into their central bank computer system US$1T and the money is created! Who is to say they have not done it quietly to benefit themselves in the past? They are not audited and are privately owned!
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  Want to Buy a Piece of a Greek Island?
  Greece’s Government Prepares to Sell Up to $42.9 Billion of Public Property to Reduce Its Mountain of Debt
  By WILLIAM BOSTON , WSJ  
  Now might be your chance to buy that portion of a Greek island you have been coveting. As part of Greece’s privatization plan to raise cash to reduce its mountain of debt, the national government is preparing to sell as much as €30 billion ($42.9 billion) of public property. It is still early in the process, but future sales are likely to include assets ranging from the government’s stake in the Mont Parnes Casino resort in Athens, hotels, and even a concession to develop a luxury resort with a world-class golf course on the island of Rhodes.
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  The Hellenic Public Real Estate Corp., the government body that manages public property, has a list of about 75,000 individual government-owned properties. The corporation has appointed National Bank of Greece SA to lead a consortium of advisers who are now preparing to sell an initial portfolio of 20 to 30 properties, the first of which could be put on the market in the next few months, according to Aristotelis Karytinos, general manager of the real-estate division at National Bank of Greece.
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  The International Monetary Fund, in its latest report on Greece, estimates that as many as €15 billion could be raised through real-estate sales. Mr. Karytinos says expected proceeds from property sales or leasing is now estimated at between €15 billion and €30 billion. The first step is to sift through the long list of public property, identify the best real estate, and resolve any legal issues to ensure that the property is able to be fully developed by investors.
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  “We more or less know what the government owns, but many of the properties may have some legal or technical problems that need to be resolved before we an exploit them,” Mr. Karytinos said in an interview. “In some cases, we may have to rezone properties.”
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  The real-estate privatization is part of a broader program to sell government holdings valued at about €50 billion, which Athens agreed to do to obtain a €110 billion bailout by the European Union and the International Monetary Fund. The IMF has been pressing Greece to accelerate the privatization process and is particularly keen to see Athens dispose of stakes in properties and industries that it believes are better left to the private sector, such as running gambling casinos.
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  Greece hopes to attract international investors to create modern resorts and residential communities for foreign tourists. “The tourism industry is clearly one of our major strengths,” Mr. Karytinos said. “This is an area where we have an advantage, and we are talking to international investors about creating these
  types of developments.”
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  Most of the public real estate is undeveloped land or retired sites such as the old Athens airport at Hellenikon. In most cases, the Greek government may not actually sell the property outright but is more likely to lease the underlying land for development.
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  “Our strategy is to award concessions, long-term leases of 30 to 40 years, depending on the individual property, but the government will retain ownership of the land,” Mr. Karytinos said. “The first properties should come to market in the next few months, but certainly by the end of the year.”
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  … to continue reading click here!

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Yastrow Origer: “We’re on The Verge of A Great, Great Depression. The Federal Reserve Knows It”!

• To those of you who still think that everything is A-OK, the global economy is recovering, all sovereign debt problems will be resolved easily… what are you smoking? I need a triple dose of your delusional optimism.
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• The western (and Japan) economy is not improving. The liquidity injection via QE1 & QE2 only provided a small fillip to the overall Great Depression 2.0. You cannot create wealth by printing money. You cannot create jobs by printing money. You cannot create economic growth by printing money. If you can, then the FedRes should go the whole hog and printing US$1B for each man, woman, child and their pet dog.
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• I am not a fan of paper assets, including stocks. The exception being gold/silver mining stocks. All paper assets will be hit when hyperinflation kicks in. Stocks may rise in value because of currency devaluation. But adjusted for currency debasement and economic collapse, I doubt you will get a real return. Got gold yet?
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  Wall Street Baffled by Slowing Economy, Low Yields: Trader
  by Margo D. Beller , CNBC.com
  Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC. “What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,” he said. “They can not find a yield and you just don’t want to be utting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.
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  “We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake.”
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  Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.
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  “Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,” Yastrow said. “We’re on the verge of a great, great depression. The [Federal Reserve] knows it.
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  “We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer.”
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  However, he said he wouldn’t sell stocks. “Any bears out there better be careful because the dividend yields on these stocks look awesome relative to all the other investment vehicles out there,” Yastrow said. “So bears are going to have to find a new way to express their discontent with the U.S. economy.”

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Prepare for More Money Printing! The FedRes Will Initiate QE3!

• The talking heads in the MSM are shifting their position now. They are selling QE3. The FedRes will QE to infinity until the USD become toilet paper! Got gold yet?

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Michael Pento: Central Bankruptcy – Why QE3 is Inevitable!

• QE3,4,5…100… infinity is inevitable. Don’t let the propaganda and talking heads in the MSM fool you. Michael Pento is correct. The USD is toast! A global currency crisis is coming. Got gold yet?
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  Michael Pento: Central Bankruptcy – Why QE3 is Inevitable
  By The Daily Ticker
  As the U.S. economy seemingly limps out of the Great Recession most analysts now assume that the Federal Reserve will soon join the tide of other central banks and bring an end to the current era of unprecedented monetary expansion. Markets expect that Fed will begin withdrawing liquidity this summer, not too long after this latest round of the quantitative easing comes to an end. But this is simply a delusion.
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  There are many political and economic reasons why the Fed will find it extremely difficult to absorb the liquidity that it has relentlessly pumped into the economy since the beginning of the financial crisis. But its biggest problem may be that the ammunition it carries on its balance sheet is insufficient to the task.
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  In order to withdraw liquidity the Fed must sell most, if not all, of the assets on its balance sheet. The questions are: what types of assets will it sell, how fast will they sell them, who will buy, and what price will the market bear?
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  In December 2007, before the Great Recession began the Fed had an equity ratio of around 6% on a balance sheet that totaled approximately $900 billion. The assets it held at that time were almost exclusively comprised of short term Treasury debt. This had been the norm for the vast majority of Fed history. Given the size of the Treasury market and the bankability of its short term debt, the value of such a portfolio was considered virtually bulletproof.
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  But beginning in late 2008, as financial institutions careened towards insolvency, the alphabet soup of Fed lending facilities (TAF, TSLF, PDCF and the CPFF just to name a few) bought all kinds of assets that the Fed never before held. Through quantitative easing efforts alone, Ben Bernanke has added $1.8 trillion of longer term GSE debt and Mortgage Backed Securities (MBS). (In fact, the Fed now holds more of these mortgage instruments than their entire balance sheet before the crash.) This has drastically changed the complexion of the assets it must now sell.
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  But as the size of the Fed’s balance sheet ballooned, the dollar amount of capital held at the Fed has remained fairly constant. Today, the Fed has $52.5 billion of capital backing a $2.7 trillion balance sheet. While the size of the portfolio expanded three fold (and the quality of its assets diminished), the Fed’s equity ratio plunged from 6% to just 2%. Prior to the bursting of the credit bubble, the public was shocked to learn that our biggest investment banks were levered 30 to 1. When asset values fell, those banks were quickly wiped out. But now the Fed is holding many of the same types of assets and is levered 51 to 1! If the value of their portfolio were to fall by just 2% the Fed itself would be wiped out.
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  The Fed acknowledged this insolvency risk on January 6th when it modified its accounting rules to ensure that it never technically runs out of capital. In a system that would make Enron jealous, the new gimmickry allows Fed losses to be booked directly as Treasury liabilities. In other words, just throw it on the deficit pile with the rest of the Federal red ink. But fictional solvency has nothing to do with its ability to successfully withdraw liquidity.
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  What will happen to the value of the Fed’s mortgage assets if rising inflation causes the Fed to sell in haste back to the primary dealers? In an environment of rising interest rates (that such a tightening pre-supposes) the value of the assets should fall. And, given the continued deterioration of the real estate market, there may be a weak market for low yielding mortgage debt.
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  If these financial institutions were forced to pay par for the Fed’s mortgage assets, Bernanke would destroy a great deal of their capital and a new breed of zombie banks would re-emerge. There is certainly no political will in the United States to force the financial industry further into the public sector. If the assets are sold at the fair market price (which will likely be far below what the Fed paid), Bernanke would burn through his balance sheet before all of the prior Fed liquidity injections were neutralized.
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  Recently some Fed officials announced that they will likely raise interest rates before they sell assets. The truth is that without the ability to fully withdraw prior liquidity the Fed is incapable of significantly raising interest rates. After all, the Fed can’t raise rates by fiat. It must sell assets to do so. Similarly, to support the dollar it must take money out of circulation, which is also accomplished by asset sales.
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  But the Fed’s arsenal is no longer stocked with high grade weaponry. Given what is has on hand, the Fed will be unable to raise interest rates and support the currency. In essence, they have become impotent in removing the inflation they have so diligently created.
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  In the end, any meaningful attempt to withdraw liquidity will not only bankrupt the institution but also zero out their remaining credibility. That’s why they’ll never even make an honest attempt.

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Egon von Greyerz and James Turk: Central Banks Debasing Currencies Worldwide. US$10,000/oz Is Easy. Hyperinflation And Gold Returning As Money!

• YouTube
  Egon and James Turk discuss why gold is the best way to preserve wealth for the long term and how we are living through very interesting times for the gold market. Central banks are debasing all major currencies and this will lead to much higher gold prices.
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  They discuss whether there are any other currencies that could serve as a safe haven, such as the Swiss franc. They come to the conclusion that all major currencies have abandoned hard money since the ’70s and that gold is the only good refuge left. They note how a high CHF hurts Switzerland’s competitiveness.
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  Egon explains to James why even in a world financial crisis, Swiss tradition of gold ownership and gold saving mean that Switzerland is one of the safest places in the world to keep your gold. They comment on confiscation and taxation issues and risks.
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  They talk about the massive financial problems in the world, from the EU to the USA. They comment on the hardships of Portugal, Spain, Italy and France. UK is, after the US, the most likely candidate for hyperinflation. Egon claims that this process is starting now, with the dollar’s fall acting as the trigger. As Voltaire said “paper money eventually reaches its intrinsic value, which is zero”.
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  They talk about how savers and investors are fooled by nominal prices and fail to see how their savings have lost value massively in the last decade. In terms of gold the US dollar and even the Dow have lost value since the ’70s. They comment how easy it is to lose sight of how inflation and debasement eat away at purchasing power and savings, and how the US Dollar could lose the confidence of the market and stop being the reserve currency of the world. They talk about China’s role in the world economy and Chinese plans for global monetary reform.
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  James asks Egon what his target for the future gold price is, he repeats his 8000$ per ounce by 2013-15 prediction. Egon’s target was 6-12 thousand $/oz, however they both think that in view of current developments their previous estimates could be too conservative. They talk about hyperinflation and monetary crisis as a result of money printing. They discuss the coming monetary crisis and the importance of holding gold outside the banking system. They remark that the gold price is rising despite the fact that only 1% of world financial assets are in precious metals and that when the rush by fund managers to buy gold starts prices will go parabolic.

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