“But the Big event coming: HUGE, HUGE EVENT – I can’t say, I don’t know a hell of a big enough word – MASSIVE, COLOSSAL EVENT coming is the alternative to the SWIFT banking system transactions, banks settlements.” Jim Willie
Transcript – extracted from Jim Willie’s interview:
TFMR Podcast #23 – The Jim Willie Trifecta
(from min. 10:11 to 18:28)
June 14, 2012
Link to the complete 55 min. interview- tfmr-podcast-23-jim-willie-trifecta
Turd: All of this metal (gold) going east … are we setting up a brand-new system, will there be a new global system that will be based in the East, or will it just be a repositioning of the current system, with the same old powers that be, but with a more eastern base?
Jim Willie: I don’t think that it’s going to be a transformation of the … our western players moving east and still in control. They’re bankrupt. They’re insolvent. They are illiquid and they are facing extinction. The new players from the East – when I say East, I’m thinking mainly China, but don’t just think China. Think Korea, Singapore, Hong Kong. It’s a lot more; Asia is very diverse: it’s more diverse than some things in North America.
But the new players in the East are already planting seeds. Last month ICBC (…) and Chinese Construction Bank applied and received licenses to establish branches across the United States. Alright. Notice that the Chinese did not buy a big stake in several of the big dead insolvent US Banks. Instead, they’re planting seeds.(…)
But the Big event coming – HUGE, HUGE EVENT, I can’t say, I don’t know a hell of a big enough word, MASSIVE, COLOSSAL EVENT coming is the alternative to the SWIFT banking system transactions, banks settlements. Alright. Bank A, bank B; they want to make a transaction, so they want to send money. A company A, a company B – they want to make a transaction – they use … right now, they’re using the SWIFT system. It’s all dollar-based. That’s not going to continue. An alternative is coming. And it’s a direct reaction to all the different sanctions and the heavy-handed activity and directives issued by the US government. This is coming back as a huge backfire. Again, China is leading this effort.
You are going to start seeing trade settlement more and more decentralized. It’s not just going to be one country and another country and OK it’s all dollar. No. It’s one country, another country, and they are trading with gold: like India and Iran. There are so many bilateral deals going on right now. You get enough of them and you’ve got a fabric. OK. Eventually, this trade settlement is not going to be dollar-based and it’s not going to be centralized. I’m hearing that you could even have a BlackBerry, finish a transaction and order some payment and they do so. I’d like to just say, I can’t get into details, but expect a whiff of gold to be involved in the trade settlement. And that could be why you are seeing the 5000 metric tons – there were just another 550 metric tons reported by the London traders in four hours on a single day, what was it, this week or last week, so we’re approaching the 6 thousand metric tons in quantity moving East.
Now, here is the sequence. First, you see trade payments change. Then you see banking system’s change to reflect that in the move away from the dollar and its vehicle: the Treasury Bond. Then you say, we do not have a dollar global reserve currency anymore. The East will become more dominant. I believe they are going to acquire western banks. They’re gonna want the offices, they’re gonna want the branches, they’re gonna want some of the people. They’re gonna work deals with major stakes. When China comes and buy 8 % in a U.S. bank, that’s nothing. Wait for them to come and buy 28 percent of a major bank. That’s gonna be colonization rather than just insurance. The western bankers are gonna try to hold on to the power, but they are going to become second fiddles. And some of them, like Rothschild, they already play in Asia. So they gonna maybe have an easier time of staying in the command center. This is not going to be a dawn process (…) I think it could be more like a transformation, with widespread seeding, and the dollar being isolated.
Turd: Well, again, as you said, we are already seeing this happening, a week – ten days – ago, that the deal was announced that China and Japan would trade exclusively in the Yen and the Yuan (..)
Jim Willie: Yes
Turd: Anybody that knows their history knows that there is no love. They have been adversaries… and now there are partners!
Jim Willie: They are the two biggest turds, the two biggest players in Asia. They are not going to trade in dollars. My Gosh, that’s writing on the bathroom walls, on a freaking billboard!
Turd: If you can’t see this coming (…)
As you look over the horizon, this brave new world that is coming, alliances, be they economic, political, or even military are gonna be changing, what are you hearing? Do you see some of that already coming?
Jim Willie: It must have been 18 months ago, that my best source – he is a European banker – and he approached me, he approached me way back in March and April of 2008 and he said: ” You are one of the few guys who really gets it of all the North American writers regarding gold.”
I said: “Well Thanks. But what do you want?”
He said: “I want to provide you with more information, because you are seeing a good bit of it. I want to fill in some of the blanks.”Well, he told me, way back in the beginning, no I think it was the middle of 2010, late 2010, when Greece was falling apart, he said: “Look, there is a new alliance.”
He said: “Call it the Eastern Alliance. It really doesn’t have a name. But its made up of four different players, and three primary players.
It’s the Germans, with their intelligence, their planning, their engineering expertise, their consulting, their market management.
It’s the Russians, with their vast resources, energies, metals, along with their vast pipelines and train systems even.
It’s the Chinese, with their industries and their cash, their vast factory base, their consumer mall exports – they’ve got malls all over the middle east. They’ve got malls now in Spain – they weren’t there five years ago – but they have a lot of cash, they’ve got these reserves: they’ve got almost 3 trillions in reserves. The usage of this Chinese cash will act like a blood drainage process of Uncle Sam in intensive care. He is gonna come out a hollowed creature that will not be able to walk. The zombie.
The Persian Gulf, is the other tag along. Its the fourth player. What they do, is tthey wait for the critical mass to form; they wait to see who the winner is, and then they ask for protection, so that they can continue to pillage the natural resources of their lands. That’s protection and exchange for their wealth preservation. Very simple. Very simple. Each nation might soon produce its own gold backed currency. This is something that, it’s a kind of a favorite theme of mine, you cannot replace a failed paper currency with a different paper currency (…)
Copyright © 2010-2012 TF Metals Report. All rights reserved.
Transcript by CanadaNewsLibre
Jim Willie’s Website: goldenjackass.com
1) Back in January of this year, Jim Willie described the “backfire” regarding the sanctions against Iran .
“The USGovt actions have galvanized a response, led not by Iran but by China. The raft of bilateral accords juiced by currency swap agreements has provided a significant buoyancy in the global trade framework, a highly complex system. It dictates the flow of USDollars in obvious ways, but it also dictates the formation of reserve banking systems in more subtle ways. In 2007, when Brazil and China announced a swap facility to bypass the USDollar in trade settlement, the Jackass took notice like a prairie dog raising his head with erect spine. In 2010, when Russia and China announced a swap facility to bypass the USDollar in trade settlement, the Jackass took notice again. The big trade winds were changing direction. The extreme importance of trade and banking interwoven should not be overlooked, as often done by the clueless cast of US economists. So when in the last month, Japan and China announced a swap facility to bypass the USDollar in trade settlement, the Jackass concluded that the end was near for the waterlogged American financial fortress. These are two primary Asian powerhouses, who with South Korea form the core strength of the entire East.
(…) In April 2010, a conference took place in the United Arab Emirates among a couple hundred billionaires, sheiks, and other royalty. They decided to embrace the Chinese Protectorate plan for the Persian Gulf, and to accept Russian oversight in the region.
(…) That event served as a clear signal that the sunset shadows for the USDollar were soon to encounter reality. The process would clearly require a couple years, but the writing was on the wall. Much critical structural work would be required to complete, as trade, banking, currency, and gold management has become far more complex and integrated for the array of professors to comprehend. (…)
The signals are abundantly clear. What we are witnessing is the end of the Petro-Dollar in slow steps. The steps are unmistakable to those who study the interwoven nature of global finance. They are easily overlooked by those who operate within the dome of perceptions controlled by the American apparatus …” (1)
(2) Extracted from Jim Willie’s latest article:
China Recasts Gold Bars
China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based USDollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.
The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. (…) (2)
- Brazil-China to Sign $30 Billion Currency Swap Agreement Soon – June 23, 2012
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