Thursday, April 10, 2014

Jim Willie Update - " NEW GOLD-BACKED CURRENCIES" - April 9, 2014

By: Jim Willie CB,

The time is finally right. The urgency is acute. The banking system insolvency is widespread. The illiquidity has reached the surface. The geopolitical chessboard has busy movements of many pieces, even with a delayed check in Ukraine after a devious capture of the Cyprus castle but not the Syrian knight.

The Saudi support via OPEC for the Petro-Dollar has fallen out of view, dragging its pummeled chin on the desert sands. The Eastern superpowers are marching arm in arm, ready to challenge the West.

It seems the Western leaders, in particular the robot sock puppets of the Untied States, see the end of the USDollar. They appear to wish to lay blame on Russia for the death of the dollar. The global rejection is well along, which began with the introduction of QE, then QE2, then Operation Twist.
But the global rejection took flight after Taper Talk failed in its trial balloon, and achieved supersonic speed with the recognition of QE to Infinity was implicitly endorsed. The global rejection saw the prototype built in the hangar with the Iran sanction workarounds, where India bought Iran's oil & gas, but paid with Turkish gold, delivered to Tehran banks.

The global rejection will achieve escape velocity with the acceptance of Russian Rubles for its energy products. The global rejection will achieve additional escape velocity with the acceptance of Chinese Yuan payments for Saudi crude oil (then all OPEC oil).

Coming is the launch of both the gold-backed Russian Ruble and the gold-backed Chinese Yuan.

The global rejection will be final, and the funeral will be announced. They will enter the financial airspace first, followed by others. When the USMilitary defense of the USDollar is recognized as blatant, dishonorable, toothless, and ineffective, the other gold-backed currencies will follow.

The isolated paper tiger was revealed in Syria. The toothless rampaging tiger will be revealed in Ukraine. The Kiev Govt is almost ready to collapse already. The Jackass originally expected the collapse to occur in six to nine months, but it looks more like three to four months.

 The Russians and Chinese might put the first daggers in the USDollar heart, but numerous death blows will come from other parties. The water will be judged safe to enter.

Expect the Saudis and fellow Arabs to launch a gold-backed Dinar currency. Expect the Germans and fellow Europeans (not from the Catholic South where socialism, absent industry, and slack work ethics prevail) to launch a gold-backed Nordic Euro.

Expect the Latin Americans to rally behind Panama, the new Switzerland of the Americas. Several nations are reported onboard the launch of the gold-backed Panama Balboa. It will be supported by gold and copper, possibly crude oil.

It will be the resource currency of the bunch. Watch closely Norway, which might launch a gold-backed Norwegian Krone, supported indirectly by crude oil. They can easily convert oil to gold, since crude is black gold.

Watch certain groups of resource-rich African nations. They are extremely large in land mass and they are loaded with resources (energy) and minerals (metals). They could launch a few gold-backed currencies and declare independence from Western colonialists.