Bill Haynes: This Will End In Inflation & Destruction of Paper Currencies!
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- This Will End In Inflation & Destruction of Paper Currencies!
by www.kingworldnews.com
KWN has been receiving a tremendous number of emails, from readers and listeners, asking how this financial crisis will end. So this week we turned to the man who has studied monetary history for over four decades to ask him how this will all be resolved. Bill Haynes, President and owner of CMI Gold & Silver, had this to say about what is happening today with the ongoing crisis and where we are ultimately headed: “With all of the bearish reports on the metals, some investors are scared. Still, others call up and say, ‘If they’re going to give me this stuff, this cheap, I’m buying.’ Eric, let me tell you, this feels like 2000. Remember those days, gold below $300, silver below $5, and we were (called) ‘idiots’ for buying it.”
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“You bought it because you were a contrarian. It’s been about 12 years ago that you gave me your reasons for buying. This is what it feels like (again), that we are considered idiots for being gold and silver bulls. But let’s talk about the difference of what we’re looking at today, and what we were looking at 12 years ago.
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12 years ago the only thing we had to worry about was massive deficit spending because we knew it was going to cause inflation sooner or later. There was no talk in 2000, when we were buying, of Lehman disappearing. Let’s not forget Merryll Lynch (essentially) went bankrupt, and rolled into Bank of America….
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James Turk: Frightening Situation, The World Is On A Knife’s Edge!
- Turk – Frightening Situation, The World Is On A Knife’s Edge!
by www.kingworldnews.com
With continued volatility in global markets, today King World News interviewed James Turk out of Europe. Turk told KWN, “The world is on a knife’s edge.” He also stated, “Monetary history shows that currencies under political control are always destroyed — always. And the dire result is economic chaos.” Here is what Turk had to say about what he termed the, “frightening situation”: “Europe had its big meeting last week, and one conclusion is clear, Eric, Europe still has to learn that bailouts are not a solution. When a government or a bank, or any borrower for that matter, has too much debt — more debt than they can handle — adding more debt just worsens the problem. This ultimately has the effect of making the inevitable bust that much more difficult when it eventually arrives.”
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The world is on a knife’s edge, Eric. The geopolitical situation is worrying. Economic activity around the world is rapidly deteriorating, and this is having the effect of putting more and more people out of work. It is noteworthy that the eurozone jobless rate, in May, hit a record-high of 11.1%. If we then factor bank runs into this toxic brew, the opportunity for the fear event I have been worrying about seems all the more likely. As that fear event begins to manifest itself, physical gold and silver will be your best safe-haven. It is extremely important that KWN readers, around the world, position themselves into the metals ahead of the coming chaos.”
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Financial Coup d’Etat in Europe: Government by The Banks, for The Banks!
- See also: The European Stabilization Mechanism, Or How Goldman Sachs Captured Europe!
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Financial Coup d’Etat in Europe: Government by the Banks, for the Banks!
by Ellen Brown, http://globalresearch.ca/, http://webofdebt.com/
On Friday, June 29th, German Chancellor Angela Merkel acquiesced to changes to a permanent Eurozone bailout fund—“before the ink was dry,” as critics complained. Besides easing the conditions under which bailouts would be given, the concessions included an agreement that funds intended for indebted governments could be funneled directly to stressed banks.
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According to Gavin Hewitt, Europe editor for BBC News, the concessions mean that:
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[T]he eurozone’s bailout fund (backed by taxpayers’ money) will be taking a stake in failed banks.
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Risk has been increased. German taxpayers have increased their liabilities. In future a bank crash will no longer fall on the shoulders of national treasuries but on the European Stability Mechanism (ESM), a fund to which Germany contributes the most.
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In the short term, these measures will ease pressure in the markets. However there is currently only 500bn euros assigned to the ESM. That may get swallowed up quickly and the markets may demand more. It is still unclear just how deep the holes in the eurozone’s banks are.
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The ESM is now a permanent bailout fund for private banks, a sort of permanent “welfare for the rich.” There is no ceiling set on the obligations to be underwritten by the taxpayers, no room to negotiate, and no recourse in court. Its daunting provisions were summarized in a December 2011 youtube video originally posted in German, titled “The shocking truth of the pending EU collapse!”:
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The treaty establishes a new intergovernmental organization to which we are required to transfer unlimited assets within seven days if it so requests, an organization that can sue us but is immune from all forms of prosecution and whose managers enjoy the same immunity. There are no independent reviewers and no existing laws apply. Governments cannot take action against it. Europe’s national budgets [are] in the hands of one single unelected intergovernmental organization.
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Here is the text of some of the ESM’s provisions:
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[Article 8] “The authorised capital stock shall be EUR 700 000 [700 billion Euros].”
[Article 9]: “ESM Members hereby irrevocably and unconditionally undertake to pay on demand any capital call made on them . . . such demand to be paid within seven days of receipt.”
[Article 10]: “The Board of Governors . . . may decide to change the authorised capital and amend Article 8 . . . accordingly.”
[Article 32, paragraph 3]: “The ESM, its property, funding, and assets . . . shall enjoy immunity from every form of judicial process . . . .”
[Article 32, paragraph 4]: “The property, funding and assets of the ESM shall . . . be immune from search, requisition, confiscation, expropriation, or any other form of seizure, taking or foreclosure by executive, judicial, administrative or legislative action.”
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[Article 30]: “ . . . Governors, alternate Governors, Directors, alternate Directors, as well as the Managing Director and other staff members shall be immune from legal proceedings with respect to acts performed by them in their official capacity and shall enjoy inviolability in respect of their official papers and documents.”
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And that was before Merkel’s recent concessions, which allow this open-ended indebtedness to be funneled directly to the banks.
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A Voice of Sanity for Glass-Steagall as ECB Plans Hyper-Hyperinflation!
- The Glass Steagall Act was instituted after the first Great Depression to separate banks into 2 categories: those doing traditional savings and loans commercial biz (ie. normal banking) and those in the investment banking biz (ie. highly speculative investments). It prevented depositor funds from being diverted into highly speculative investment, casino gambling. Investment banks were dis-allowed from obtaining deposits from savers. The cause of the bank runs and first Great Depression can be traced back to banks which were gambling with depositors money, same as what is happening now!
- - The criminal politician snakes have done away with Glass-Steagall and depositors are now liable for the gambling debts of these Illuminist banks! See: Bank Of America Forces Depositors To Backstop Its $53 Trillion Derivative Book To Prevent A Few Clients From Departing The Bank ! (emphasis mine)
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A Voice of Sanity for Glass-Steagall as ECB Plans Hyper-Hyperinflation!
by http://larouchepac.com/
In the aftermath of the Thursday-Friday Brussels meeting of the European heads of state, which Helga Zepp-LaRouche has appropriately labeled as a second Versailles Treaty looting of Germany, Bloomberg reported yesterday that all attention is now focused on the July 5 meeting of European Central Bank, where it is hoped that the next step towards hyper-hyperinflation will be taken by Mario Draghi and company. At that meeting, according to Bloomberg, it is anticipated that the ECB will lower benchmark interest rates by at least 25 basis points to a record low of 0.75 percent and, at the same time, lower deposit interest rates to zero, to discourage banks from parking funds at the ECB. The big question is whether the ESM, due to be activated sometime this month, will be chartered as a bank, allowing it to enjoy unlimited borrowing from the ECB’s discount windows. This is the key move to secure what Lyndon LaRouche Sunday described as hyper-hyperinflation—-a flood of money to bail out the banks that exceeds, by orders of magnitude, the anticipated size of the ESM. For example, Bloomberg reported that the ESM bailout fund is expected to have an initial capitalization of 500 billion euros at most, where Italy and Spain alone are holding 2.4 trillion euros in outstanding bonds, bills, and loan obligations.
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Bloomberg quotes Holger Schmiedling, chief economist at Berenberg Bank, calling for a third round of long-term loans to the banks and a resumption of ECB purchasing of sovereign bonds. “If the summit result encourages the ECB to step in with serious support for sovereign bond markets, it could be a smashing success. If the ECB hold back instead, the crisis could possibly escalate badly over the summer until the ECB finally relents.”
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Amidst all of this hype and hyperinflation, at least one media voice expressed some degree of sanity. Writing in Sunday’s Telegraph, Liam Halligan once again called for Glass-Steagall and threw cold water on the euphoria over Merkel’s capitulation.
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Warning that there are critical interim hurdles before the fullscale bailout scheme can be realized, Halligan wrote: “It is abundantly clear, though, to any objective observer, that there is a very long way to go befgore any kind of resolution. Strict conditions still apply to the use of eurozone rescue finance. The exasperated German parliament retains a veto over the deployment of such funds. And the entire notion of direct funding to member states’ banks, as opposed to respective sovereigns, still needs to be cleared by Germany’s constitutional court. As such, we could yet see this famously nit-picking and powerful judicial body only granting approval following a referendum—which would be the first in Germany’s post-war history… And acccording to the Brussels summit communique, the bail-out can, anyway, only happen once a eurozone-wide bank regulator has been ‘established.’ “
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Halligan concluded his dissection of the Brussels fiasco with this assessment: “The circle will only be broken, of course, once politically-connected banks are busted up and their creditors forced to take losses. This has yet to happen in Western Europe—and, until it does, we’ll keep lurching from crisis to crisis.”
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Halligan then went on to highlight the fact that there is a major criminal investigation—of Watergate proportions—now underway in the City of London over accusations that British banks were manipulating the LIBOR rates, on which global interest rates are set. The author concluded that, as bad as the banking crisis is on the continent, the crisis in the UK is far worse. He dismissed the idea of “ring fencing” as folly. “Well, history shows that firewalls don’t work, which is why we desperately need a proper ‘Glass-Steagall’ split. Unless we get one, then the ongoing use of ordinary deposits to finance investment bankers’ bets will result in yet more UK bank bail-outs. Given the rescues we’ve seen so far, and the gargantuan size of our bloated banking sector, this is something the UK simply can’t afford.”
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After Meetings in Russia and Geneva on Syria: Hillary Clinton Warns of Regional War Danger!
- Hilary Clinton is an Illuminati Council on Foreign Relations snake. She is of course using double speak, snake speak, to warn us about the coming Satanic World War 3, Greater Middle East War. Do not be taken for a ride. The western Illuminati’s intention is to execute this Satanic plan while pretending to be the good guys, the saviors of the world ! (emphasis and remarks mine)
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Albert Pike’s Satanic World War 3 Plan
“The Third World War must be fomented by taking advantage of the differences caused by the “agentur” of the “Illuminati” between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. Meanwhile the other nations, once more divided on this issue will be constrained to fight to the point of complete physical, moral, spiritual and economical exhaustion…
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After Meetings in Russia and Geneva on Syria: Hillary Clinton Warns of Regional War Danger!
by http://larouchepac.com/
While U.S. Secretary of State Hillary Clinton commented that if the Annan Plan adopted at the Geneva Action Group on Syria doesn’t work, there is danger of regional war “in six months,” Lyndon LaRouche warned that the danger is immediate and global, not regional. In fact, as EIR and LPAC have been reporting, the regional war has been underway for months and months. One small indicator of this sectarian war spreading is Iraq, where the month of June 2012 had at least 234 Iraqis killed in terrorists attacks, mostly by Al Qaeda and its local affiliates—which are playing a role in the anti-Assad fighting in Syria.
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In an interview in Geneva about the just concluded meeting of the Action Group on Syria, Clinton told NPR reporter Michelle Keleman that unless the plan agreed to at the June 30 meeting succeeds, there is a danger of regional war.
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“There are so many terrible things about the violence, the loss of life, the destruction,” Clinton said, that “it became clear that everyone, including Russia and China, is worried about it spreading….” She added that in her remarks, “I was able to point to Iraq sitting there…Turkey…Lebanon…Jordan…Israel, the countries in the region that are already dealing with the repercussions of violence and instability in Syria….”
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“Everyone around that table knew that we could if we didn’t act today and get behind that transition plan, could … in six months [have] a war in the region on our hands destabilizing country after country if we failed….” (This is the real plan!)
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Clinton also talked about “those with the guns—whatever side they are,” in a rare, and perhaps only occasion where she admitted that killings are being done by the opposition— something that Russia has stressed and insisted upon for the last year. At the same time, Clinton is also quoted saying that Assad will have to leave—comparing his exit to the negotiated ouster of Yemen’s president.
The white horseman logo of the Illuminati Council on Foreign Relations (CFR). They labour to lay the foundation for the coming of the white horseman, the fake messiah, the Anti-Christ, the bringer of false peace of Revelation 6.
Illuminati Round Table, Geo-Political Organizations
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Webster Tarpley: US Has Sinister Plan for World !
“The current US policy under the Obama administration with Hilary Clinton at the state department aims at the destruction of all sovereign states on this planet! … the desperation of the US and the British comes from their financial bankruptcy. And what they’ve got to do is increase the rate of exploitation and looting and sacking .. of the entire world economy!” - Webster Tarpley 0.23 onwards
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About
Societal and economics observer and commentator with an endtimes, future history perspective. Follow me at Twitter: socioecohistory
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