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JIM WILLIE: FEVER PITCHED CURRENCY WAR & USDOLLAR REJECTION IN 2013 The Competing Currency War threatens to disrupt international relations The year 2013 will be the year when the USDollar is isolated and set up for rejection A return to the Gold Standard is in the works. The key to the solution is a USDollar alternative, actually trade settlement outside the USD A Gold Trade Note is coming, the basis of Eastern trade, serving [...] A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the US dollarand peg their currency to the Chinese yuan — a major signal of China’s successful bid tointernationalize its currency, a research report has said. The Peterson Institute for International Economics, or PIIE, said in its latest research that Chinahas moved closer to its long-term goal for the renminbi to become a global reserve currency. Since [...] Man-made financial phenomena imitate nature, but more importantly they are subject to the powerful laws of economic nature. The Wall Street financial engineers have built vast structures, which tragically are crumbling and soon will fall to the ground. Vast illusory wealth will be lost, never truly garnered. The fiat currency system has required tremendous efforts not only to build the financial skyscrapers ever higher each year, but also to provide [...] By: Jim Willie CB, GoldenJackass.Com < By: Jim Willie CB, GoldenJackass.Com – Posted Thursday, 12 April 2012 | Source: GoldSeek.com It seems that it is not just the Europeans that are USD cash starved heading into year-end as theSwiss and Japanese gorged themselves on two-week maturity FX swap lines during the last week. The total outstanding under the Federal Reserve’s USDollar Liquidity Swap Operations jumped from $62.599bn to $99.823bn – or more than 59% during the week ending 12/28. Admittedly, the size of the additional Swiss draw-down, $320mm more compared to $75mm the [...] The USTreasury Bond rally over the last few months has been celebrated. Some call it a contradiction of the Standard & Poors debt downgrade of USGovt debt. Some hail the rally as proof that the USDollar remains respected as global reserve currency. Some regard it as a sign of bond market health in general. Some claim the US remains the safe haven. These are all errant views [...] The economic theory in textbooks must be updated to account for Fiat Soft Science. An important third factor determines price. It is not demand, as most Deflationist Knuckleheads claim. It is not supply, as the moronic followers of Laffer Curve advocates insist. Instead, it is the falling USDollar since all commodities are priced in US$ terms. Lower demand will not result in lower commodity prices, since the [...] Every few years, a tremendous opportunity arises. The autumn months of 2007 and the autumn months of 2008 offered such an opportunity to buy silver. That $11 silver price is long gone. Many smart folks seized it. Whatever can be said on such silver platters applies almost equally to gold. The silver sprint gains are typically much larger than the gold steady gains. The coming [...] Imagine a doctor who administers an elaborate treatment for a man suffering from multiple broken bones, joint arthritis, and fallen foot arches. The quack doctor orders massive amounts of liquids as though he has a horrible case of dehydration. The inept doctor also permits unlimited freedom of movement around the hospital and its grounds to the patient, as part of the blunt treatment. The man [...] My forecast has been for a powerful Inflationary Recession to occur, a consistently laid out analysis, delivered during the last year or more in clear terms. That has been my call, and continues to be my call. The Deflationist camp is making more noises. They do not know their limitations, which are obstructed by a blind eye toward the monetary inflation. They do not understand [...] Jim Willie: http://news.goldseek.com/GoldenJackass/1300910400.php
“Call it the EMERGENCY G-7 YEN SELLING PACT or coordinated Japanese support, no matter. It will become the biggest, most grandiose coordinated monetary initiative in modern history… They can rescue the Yen, but not the USDollar, the new toilet paper with green embroidery. Tremendous emergency funds have been appropriated and set aside by the Japanese Govt for financial market rescue & support. More funds have been devoted [...] |
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