Jim Willie 'dollar to loose 50% overnight'

[Steal]

This is a copy/paste from Harvey Organs blog...

Subject: From Jim Willie


A highly reliable sage source from the gold banking world and international consulting is loaded with deep insight, vast experience, solid connections, ongoing relationships, privileged insider information, and diverse industries tied to banking. He tipped the Jackass off in early August 2008 as to the weekend of September 15th being one to mark in history as three great failures would occur. He gave one month advanced notice of a locus of failure in three places, with great urgency. My guesses of Lehman Brothers and Fannie Mae were correct, but a blank came on the third which turned out to be AIG. He has frequently shared a viewpoint on the inevitable USTreasury default in the coming years. He first enlightened me as to the USFed resignation pathway to default, after it was loaded to the gills in toxic irredeemable impaired assets that no banks wanted. As buyers of last resort, the USFed would choke to death. Rather than a citation of path to default, he shared a great risk of a major event. He said, "The USGovt will devaluate the US$ by 50% overnight in the not too distant future. They need 11 days to do this. If they push it, they can do it in 6 days. So look for a long holiday weekend as an opportunity. The best time to do this is the Christmas / New Year time window. They tried to do it in 2005/2006, but the Chinese put a gun to their heads in Washington and they backed down. You can slice and dice it as you like, but the USDollar is dead and so is the Euro. The systemic change will be a cataclysmic and traumatic event for the West, since all it stands for will go into the toilet in a blink of an eye. The period immediately following the collapse will be filled with violence and total breakdown of law & order. Keep an eye on Greece. It is the guinea pig and incubator for what is coming to Western societies." He went on to mention some positive regenerative power left in the US people to reclaim their country and to restore its legal framework. Soberly, he warned it will be ugly, but loaded with great opportunity. So he sees a sudden massive USDollar devaluation with grand shock waves from vengeful reaction.

http://harveyorgan.blogspot.com/

and tie in with an old Ron Paul vid (not too old)
http://www.youtube.com/watch?v=75XUJoIchjk&feature=related

[mamboni]

This begs the question (in a world of floating fiat currencies): devalue the dollar against what?

Answer: Gold or a new international reserve currency consisting of a basket of major currencies plus gold bullion.

The US dollar is either going to devalue massively or collapse to nothing suddenly.

[Ponce]

And that's why I am holding Canadian dollars, the collapse of the fiat will make the Canadian dollar stronger because where we don't have the assets to support the fiat they do for theirs...... but remember this, in what is to come there will be a lot of good bargains out there and because the sheep's only know the fiat then that's all that they will be willing to deal with.....so hang on to a portion of your physical fiat.

[Book]

devalue the dollar against what?



http://blog.qamar.eu/wp-content/uploads/nuclear-war.jpg

China will keep buying our debt or else...lol.

:D

[mamboni]

devalue the dollar against what?



http://blog.qamar.eu/wp-content/uploads/nuclear-war.jpg

China will keep buying our debt or else...lol.

:D


That's the problem with you BOOK! You're always so pie-in-the-sky optimistic!!! :ROFL: :whistle

[Book]

That's the problem with you BOOK! You're always so pie-in-the-sky optimistic!!! :ROFL: :whistle



I quit coffee last week buddy...lol.

|--0--|

[wildcard]

ROFL. We can't succeed against ragtag groups in Somalia, Iraq, Afghanistan, but we're gonna f*ck those Chinese up! :P

*I'm sure they'll surrender peacefully after they see our powerhouse economy and manufacturing base would seamlessly transition into a wartime economy. :D

[madfranks]

The USGovt will devaluate the US$ by 50% overnight in the not too distant future.

Impossible unless they peg the dollar to another currency or commodity overnight as well. And if they do that, the dollar is toast as the world reserve currency. The dollar can not be devalued in this manner, it would destroy it. The dollar will either continue it's slow decline in purchasing power just like it has been for almost 100 years, or it will be replaced.

[wildcard]

Well, it won't be linked to gold. I will guarantee that. Oil maybe, hell even pork bellies, but they aren't going to allow people to prosper.

*something consumable and with a shelf life.

[Uncle Salty]

The USGovt will devaluate the US$ by 50% overnight in the not too distant future.

Impossible unless they peg the dollar to another currency or commodity overnight as well. And if they do that, the dollar is toast as the world reserve currency. The dollar can not be devalued in this manner, it would destroy it. The dollar will either continue it's slow decline in purchasing power just like it has been for almost 100 years, or it will be replaced.


Unless they issue "new" dollars and it take two of the new ones to equal one of the old ones.

Close the banking system for a week and get the new bills in inventory.

[Libertytree]

The USGovt will devaluate the US$ by 50% overnight in the not too distant future.

Impossible unless they peg the dollar to another currency or commodity overnight as well. And if they do that, the dollar is toast as the world reserve currency. The dollar can not be devalued in this manner, it would destroy it. The dollar will either continue it's slow decline in purchasing power just like it has been for almost 100 years, or it will be replaced.


Unless they issue "new" dollars and it take two of the new ones to equal one of the old ones.

Close the banking system for a week and get the new bills in inventory.


Isn't that what he was alluding to with his 6-11 day statement?

[cedarchopper]

The Dollar was pegged to the Yuan (or the other way around?) until very recently...when the Chinese let the Yuan float, the Dollar gained on the Yuan, the opposite of what .gov apparently expected. For the Dollar to lose half its value overnight, it would mean a doubling of the Yuan overnight. In what appears to be a economic war between the US and China (or at least a war by China and the US complicit), what would be the impact on each country? Would China be that much stronger and the US that much weaker?

China's labor and cheap manufacturing base has been the support for the Dollar (through the Dollar/Yuan peg) for 20 years. Pegging it to the Yuan was like pegging it to gold.

[Uncle Salty]

The USGovt will devaluate the US$ by 50% overnight in the not too distant future.

Impossible unless they peg the dollar to another currency or commodity overnight as well. And if they do that, the dollar is toast as the world reserve currency. The dollar can not be devalued in this manner, it would destroy it. The dollar will either continue it's slow decline in purchasing power just like it has been for almost 100 years, or it will be replaced.


Unless they issue "new" dollars and it take two of the new ones to equal one of the old ones.

Close the banking system for a week and get the new bills in inventory.


Isn't that what he was alluding to with his 6-11 day statement?


I think so. It would take that long to get all the new bills into inventory. What happens to mortgage, credit card, and other debt, I have no idea.

But it would seem the credit markets would collapse, and without letters of credit, no trucks or ships would be running and the grocery stores would be out of food in days.

[Horn]

It's got to for somebody to win, otherwise everyone is a loser.

[keehah]

Save your change! I expect it to make it though pegged 1:1 with any new Western currency.

http://www.businessweek.com/autos/autobeat/archives/fiat-500-display-frankfurt.jpg
Just having some fun.... http://www.businessweek.com/autos/autobeat/archives/2009/06/will_americans.html

But to succeed, Fiat will have to adjust those cars to meet American tastes. European passenger cars tend to be engineered smaller to fit in tight European parking spaces and city streets. Americans like roomy rides. Fiat’s quality is barely average in Europe. They will have to step that up to compete with the likes of Toyota, Honda, Ford and, yes, GM. And when they come here in about two years, there may be even more competition from India, China, another European player or whoever Roger Penske can contract to make new Saturn cars.

[DMac]

If I remember correctly, didn't Bob Chapman claim this same thing last year around this time? Embassies need to horde local currencies as the dollar was going to devalue 50% basically overnight (it was around August-September).

[Mouse]

Devaluing the dollar doesn't accomplish anything unless they screw over the holders of debt. And as best as I can recall, the .gov isn't in the practice of screwing over the banksters. Quite the opposite.

I don't see any point to devaluing the dollar officially when they can do it on a daily basis without anyone complaining. Please point out how devaluation would accomplish anything for anyone?

[chad]

they'd kill themselves before they pegged anyting to gold. it wuld put an end to the money printing/10% reserve/leveraging/ass raping business.

[mamboni]

they'd kill themselves before they pegged anyting to gold. it wuld put an end to the money printing/10% reserve/leveraging/ass raping business.


The only one it would kill is the United States. The Euro is already partly gold-backed. And the BRIC nations are discussing forming a new reserve currecny partly backed by gold. Only the USA has benefited from unrestricted money printing since 1972.

[Large Sarge]

remember during the great depression, the dollar was devalued by 75% overnight, and the main reason was to "fatten the purse" of the govt.

a lot of similarities in that regard....

[Book]

http://explorepahistory.com/images/ExplorePAHistory-a0k1c5-a_349.jpg

United States Savings Bonds so we could save the jews from Germany and then help them create their own Israel...lol.

:oo-->

http://library.marshallfoundation.org/posters/library/posters/wwi_canada/full/5.jpg

[Sparky]

Devaluing the dollar doesn't accomplish anything unless they screw over the holders of debt. And as best as I can recall, the .gov isn't in the practice of screwing over the banksters. Quite the opposite.

I don't see any point to devaluing the dollar officially when they can do it on a daily basis without anyone complaining. Please point out how devaluation would accomplish anything for anyone?

Thank you.

This discussion is so futile. Since we are not on a gold standard, what does it even mean to devalue the dollar by 50%? Under our current valuation system, it would mean the Euro and Yen would have to increase by 100% overnight. Do you really think that's going to happen?

Issuing new money at 2:1 for the old money? What exactly does that do? I have never figured out what that means. If my mortgage is $1000/month, do I have to send them 2000 of the new dollars next month? Do all retail prices double the next day? Does the government debt increase from $13T to $26T overnight? Does my salary double?

The U.S. government currently has the sweetest deal going, with global hegemony, and the ability to expand/contract the money supply however they wish. Why would they mess with that?

[Libertytree]

Devaluing the dollar doesn't accomplish anything unless they screw over the holders of debt. And as best as I can recall, the .gov isn't in the practice of screwing over the banksters. Quite the opposite.

I don't see any point to devaluing the dollar officially when they can do it on a daily basis without anyone complaining. Please point out how devaluation would accomplish anything for anyone?


But if the bankers and the .gov are one and the same wouldn't they really be lining all their pockets? The small players have surely almost been fleeced and any excesses have been siphoned off by now. I'm no expert by any means but wouldn't this be a reset or a wash, rinse, repeat scenario?

[Phoenix]

The Goyim might get restless if you turn up the heat too quickly.

No, "they" will continue the relatively slow but continuous slide into oblivion.

The common folk will be "liberated" of their earned wealth in such manner as to minimize alarm and resistance to the kosher shakedown.

[Joe King]

The Goyim might get restless if you turn up the heat too quickly.

No, "they" will continue the relatively slow but continuous slide into oblivion.

The common folk will be "liberated" of their earned wealth in such manner as to minimize alarm and resistance to the kosher shakedown.

Yep. IMHO, that's the plan. Slow-ish slide down....down...down...down...down...etc...etc...et c....gone
i.e. let people have time to get used to destitution.


Otherwise you're back to the financial equilivant of going to see Great White in a small club in New Jersey on a cold winter night in 2003.
Does anyone benefit from that?

Only if you're already by the door just waiting for the place to go up.
But if you got big bux and paid extra for front row tix because of the awesome stage show, probably not.

I'd ask, who stands to lose the most in a financial conflagration, and who's waiting by the door?

Are the ones near the exits the "prepped"?
Or is it the ptb paitently waiting for the panic to ensue so they may show everyone their secret fire exit, that instead of going outside, actually just leads into their new club next door?