By: Jim Willie CB, GoldenJackass.com
– Posted Friday, 13 February 2009 |
A hard time came when deciding upon a title today. “Dead Banks Walking” or “Insolvent & Motionless Yet Standing” or “Much Ado About No Credit” or “The Bank Vampires” or“The Primary Dark Syndicates” made sense. But what came to mind when a comment made by the Jackass in June 2008 on the Vancouver stage at a Cambridge House Metals & Mining Conference. My words to close a panel discussion on the banks were “Just wait, in several months you will see the entire US banking system go insolvent, its stock prices dwindle to nothing, as it will be diluted into oblivion!” It happened. The response by the USGovt, the USFed, Wall Street banks, and the USCongress will result in very little remedy since their first objective is to keep in place the cover-up to their gigantic fraud, much of which still eludes the financial press. By the time conditions worsen, rescues will not be the primary objective any longer. Rather, prevention of collapse will become the urgent priority. Desperate official actions will result in turning the corner on inflation, from the so-called deflation toward hyper-inflation. The gold & silver price will find release. Already, their prices are disconnected from the USDollar.Gold & silver serve as panic meters, systemic breakdown meters, monetary meters, and official desperation meters. The USEconomy has entered an acceleration phase in its breakdown. Gold & silver are poised to make new highs and not look back. They have responded to growing monetary disasters.Incredibly powerful events are in the works, to be unleashed within the next several months. What an exciting yet tragic time! The Hat Trick Letter analyzes the events, both public and hidden, in detail. Read the rest of this entry »
In These New Times 