Jim Willie: Broken Central Banks
- Jim Willie: Broken Central Banks
by Jim Willie, http://www.goldenjackass.com/, via http://www.goldseek.com/
The Western central bank franchise system is totally broken, totally insolvent, and totally corrupt. It invites the Gold Standard return. The entire financial system is built upon a debt-based monetary system. The debt saturation process has run its full course. The central bank heads have been covering the sovereign debt for the last five years, having rendered their balance sheets as ruined. Debt is at obscene levels, like $19.7 trillion for the USGovt. No debt limits are in place anymore, a signal that most likely it has already defaulted. A hidden game is underway, with control lost to the creditors, even as they attempt to salvage their debt holdings. The major central banks continue to manage badly the great game, where money is fake phony and a farce. A titanic battle is underway, where the Eastern nations are discarding their USTreasury Bonds, and doing so in tremendous volume while they set up the many platforms and pieces to the Gold Standard.
The US Federal Reserve monetary policy of hyper-inflation has failed to revive the USEconomy, failed to legitimize the debt securities, failed to halt the financial corruption, and failed to stem capital destruction. The official monetary policy has only succeeded in preventing the failures of almost all big Western banks. They are all insolvent, mostly supported by narco money laundering in the hundreds of $billions. The Eastern super-powers are leading a campaign to put aside the US$-based financial system, isolate it to the sidelines, while arranging a new system. The Gold-based system will be complete with its currency, sovereign debt securities, transfer systems, global offices, and debt rating agencies, maybe even debit cards. The East strives to install the Gold Standard as the remedy to the ongoing global financial crisis. The West has made exactly no movement toward solution, remedy, or enforcement against bond. Four graphs display the broken unfixable bizarre situation.
NEW SCHEISS DOLLAR & GOLD TRADE STANDARD
In time, expect an eventual refusal by Eastern producing nations to accept USTreasury Bills in payment for trade. The IMF reversal decision assures this USTBill blockade in time, and might accelerate the timetable. The United States Govt cannot continue on five glaring fronts of gross negligence and major violations. These violations have prompted the BRICS & Alliance nations to hasten their development of diverse non-USD platforms toward the goal of displacing the USDollar while at the same time take steps toward the return of the Gold Standard.
The New Scheiss Dollar will arrive in order to assure continued import supply to the USEconomy. It will be given a 30% devaluation out of the gate, then many more devaluations of similar variety. The New Dollar will fail all foreign and Eastern scrutiny. The USGovt will be forced to react to USTBill rejection at the ports.
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