I have known something like this was coming for about a year now. But to read about it actually being planned in today's environment gives me the chills. Paulson is like the embattled exec who is frantically trying to save his bankrupt company, not knowing that the board of directors has already decided to fire him. If Jim Willie is right, then Paulson and all his plans are doomed. The only hope left for America is to remonetize gold NOW before the world dumps us.
I am glad that I have prepared, but even so, it is truly frightening to think about the events we will soon witness if Jim is right. First, like a hypothermic patient, all the blood will rush to the heart and the head, sacrificing the limbs. All federal money will go to pay Congressional salaries and the military (to keep up "appearances"). The sacrifices will first show up as a delay in checks to Social Security recipients and financial aid payments to states and local governments. Next we will see small and regional banks start to drop like flies. Then a couple of the big ones, the ones we thought were too big to fail... will fail. Without the rest of the world buying our TBills, we can no longer prop them up.
Then the pain will reach extremes. The bank runs will be in earnest and the FDIC will have no way to cover all the guarantees short of printing all new money. But now, without the rest of the world to sop up our excess printing, we will truly have a Weimar Experience. Bernanke's belief that "it can't happen here" is based on the dollar being a "worldwide currency". If Jim Willie is right, then we are months away from losing that. And then, all the printing just to save the FDIC and Social Security will leave us worse than Zimbabwe...
I got a great source of info who is involved in the current "Post-US World" planning, execution, positioning utterly frightening / jw
"some incredibly nasty "S" coming the USDollar is to be killed off, along with the USTreasury Bond it is to follow a plan, already agreed upon numerous global forces concluded and decided to kill off the US entirely since they could not separate the innocent from the crime syndicates they want to surgically cut off the Wall St guys, big bankers, arms dealers, Dept Treasury, a few global bank centers (IMF, WB) and more but they could not determine a method to do so, while sparing the US population
SO THEY DECIDED TO KILL OFF THE US
a new global currency has been agreed upon, a basket
it will be based upon the euro, ruble, yen, dinar notice the dollar and psterling are not included, therefore to become Third World Nations the common factor is that all four come from export surplus nations the dinar will be gold-backed and bring a sudden end to the Petro-Dollar the ruble is expected before long to also be gold-backed, but smaller in scope after Europe is forced to purchase all energy products from Russia in rubles, big changes word has come to me that a global basket will SOON displace the USDollar that will immediately kick the US into the Third World
the Canadian Dollar will survive ok since demanded to purchase commodities
the Chinese will want to keep it down somewhat, in order to render cheap their commodity bill
gold will be over 2000 by January, silver over 25
the paper gold and paper silver prices are now meaningless
the COMEX is setting up for a metals default
look for defaults in oil, gold, silver, and USTBonds before too many months
absolutely frightening nasty "S" is coming
If we are going to survive this, much more drastic measures need to be taken by Congress NOW. And I'm not talking about more "liquidity". WAKE UP! It's over unless we change the paradigm OURSELVES. Otherwise it will be changed for us! And then you will wish you had bought a gun and gold while you still had the chance.