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Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming

Tuesday, February 23, 2016 7:17
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(Before It's News)

Global Reset

In the post below, you get the trifecta of today’s brilliant economic minds all together in one place. First, you’ll hear from both Peter Schiff and Dr. Jim Willie in the two part interview, then followed up with an article from Michael Snyder, who confirms everything the first two say, but from his own perspective.

As you might expect from Peter Schiff, In the first part of the interview below, Peter says a lot of the same things he’s been saying for quite some time to anyone who’s had enough sense to listen. He begins by saying the current problems with the U.S. economy began right after the “Great Recession of 2008.” Instead of accepting responsibility for creating the housing bubble when the Fed inflated the market with such cheap money, in the immediate aftermath of the 2008 crash, the Fed pursued an even more irresponsible monetary policy than before the 2008 crash. The result is that now we have a vastly bigger bubble than we did in 2008, and when the Fed raised rates not too long ago, they inadvertently pricked their own bubble. Peter says that we’re seeing now, is the very beginning of the air coming out, and he says things are going to get much, much, much worse. 

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After giving a brief explanation of what is causing the collapse that is just now beginning, Peter goes into detail of what negative interest rates are, and why banks in the U.S. might choose to charge negative interest. In short, negative interest occurs when banks have too much money on their books, and they should be lending it out only they can’t, usually for one of two reasons. Typically, market conditions are such that either the people who need money the most don’t have good enough credit to borrow any, or the people who do have good enough credit want no part of borrowing money because they know we are heading into a total collapse. The end result is that instead of banks PAYING you interest on the money you keep on deposit with them, they CHARGE you to hold onto your money on deposit. It’s a long interview, so Peter has much more to say, and I suggest you listen… 

The first interview with Peter kicks off around the 13:00 mark…

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Next, in the second interview, Dr. Jim Willie begins by saying the crash we are now experiencing actually began back in December. Wasting no time, Dr. Willie drops the atom bomb of truth bombs right out of the gate. He starts out discussing how excessive fraud at the Fed has caused the Fed to have to use what is known as The Exchange Stabilization Fund (ESF). Jim talked about the ESF fund once before in a previous post the first week in January titled, Jim Willie Says the U.S. Dollar is Now a Matter of National Security Due to Poor Decisions of the Fed, but this time he expresses how severe conditions truly are for the fund to still be in use. 

In essence, the fund is a Department of Defense slush fund used to deliberately hide the true impact of extreme volatility in U.S. Treasury markets due to massive sell-off of treasuries. During the first week of January, when Jim first mentioned the fund it was in reference to when China dumped $250,000,000,000 in treasuries on the market all at one time. Normally, we should have seen a massive fluctuation in bond yields, but the by using ESF slush fund to quickly purchase whatever was sold, it had the effect of artificially stabilizing the bond market. 

NEW: Dr. Jim Willie: Economic Collapse is On Our Doorstep

One would think the Fed would have learned their lesson by now to stop creating artificial monetary conditions, but sadly they have not. Dr. Willie refers to the use of the ESF fund as “Double Barrel Quantitative Easing,” aka printing TWICE as much money out of thin air as they normally would. The reason for such excessive printing? BECAUSE WE HAVE TO! What people have to understand, is we are NOT in a recovery, or anything that could remotely be confused for one, contrary to what idiots like Obama keep saying. The ESF fund is categorized as “Top Secret,” and it’s management is a matter of National Security; THAT is how dire conditions truly are right now. 

Jim goes on to discuss the coming“Global Currency Reset” that I’ve been writing about for about a year or more now, and how it brings with it total financial ruin for almost everyone. He predicts gold to break through $3,000 per ounce, and silver to break through $100… and I’ll let you hear the rest for yourself.

After the interviews, Michael Snyder of the End Of The American Dream blog gives several examples of current market conditions that only confirm everything that Peter and Jim say in their interview… which is a crash of BIBLICAL proportions is coming, and most Americans are going to be WIPED OUT!

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Michael Snyder writes:

Did you know that there are more than 1.8 trillion dollars worth of junk bonds outstanding in the United States alone?  With interest rates at record lows all over the world in recent years, investors that were starving for a decent return poured hundreds of billions of dollars into high yield debt (also known as junk bonds).  This created a giant bubble, but at first everything seemed to be going fine.  Defaults were very low and most investors were seeing a nice return.  But then the price of oil started crashing and the global economy began to slow down significantly.  Energy company debt makes up somewhere between 15 and 20 percent of the junk bond market, and the credit rating downgrades for that sector are coming fast and furious.  But it isn’t just the energy industry that is seeing a massive wave of defaults, debt restructurings and bankruptcy filings.  Just like with subprime mortgages in 2008, investors are starting to wake up and realize that the paper that they are holding is not worth a whole lot.  So now investors are rushing for the exits and we are starting to see panic on a level that we have not witnessed since the last financial crisis.

Just look at what has been happening in recent days.  Investors took nearly 500 million dollars out of the largest junk bond ETF (iShares HYG) last week alone.  The following chart shows that HYG has now fallen to the lowest level that it has been since the last financial crisis

Chart 2

During the last financial crisis, junk bonds starting crashing well before stocks did.  In fact, many consider junk bonds to be a sort of “early warning system” for stocks.  For many analysts, when you see high yield debt collapse that is a huge warning sign that you need to get out of stocks as soon as possible.

And this makes perfect sense.  When financial trouble erupts, it is going to hit more vulnerable companies first usually.

Blue chip companies are typically not in the high yield debt market.  Normally, high yield debt is only for companies that have more risk associated with them.  And it is risky companies that typically start to crumble the quickest.

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Another high yield ETF that I watch very closely is JNK.  As you can see, the chart for JNK looks nearly identical to the chart for HYG…

Chart 2

What these charts are telling us is that a new financial crisis began during the second half of last year and that it is now accelerating.

At this point, yields have reached levels that we have not seen since the collapse of Lehman Brothers.  The following bit of analysis comes from Wolf Richter

The average yield of CCC or lower-rated junk bonds hit the 20% mark a week ago. The last time yields had jumped to that level was on September 20, 2008, in the panic after the Lehman bankruptcy, as we pointed out. Today, that average yield is nearly 22%!

Today even the average yield spread between those bonds and US Treasuries has breached the 20% mark. Last time this happened was on October 6, 2008, during the post-Lehman panic:

Chart 3

At this cost of capital, companies can no longer borrow. Since they’re cash-flow negative, they’ll run out of liquidity sooner or later. When that happens, defaults jump, which blows out spreads even further, which is what happened during the Financial Crisis. The market seizes. Financial chaos ensues.

After junk bonds crashed in 2008, virtually every other kind of investment followed suit.

Just about the only thing that didn’t crash were precious metals.  Gold and silver soared, and that is what you would expect to happen during a major financial crisis.

Another thing that I am watching closely is margin debt.

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During past financial bubbles, we have seen lots of people borrow lots and lots of money to buy stocks.

If that sounds like a really bad idea, that is because it is a really bad idea.

Whenever margin debt peaks and then starts to decline precipitously, that is a signal that a stock market crash could be imminent.  The following chart comes from James Stack

chart 4

After looking at that chart, I can’t understand how anyone couldn’t see the pattern.

We keep making the same mistakes, but we never seem to learn from history.  In fact, the mainstream media keeps telling us that this new financial crisis “isn’t 2008″ over and over again.  Even though the exact same patterns are happening once again, they still believe that this time will somehow be different.

And to a certain extent that is actually true. This current crisis is not going to be the same as the last one.  Eventually, it is going to prove to be even worse than the last one once everything is all said and done.

So what should we all be doing?  In a recent article entitled “70 Tips That Will Help You Survive What Is Going To Happen To America“, I gave my readers some basic pieces of advice on how to get prepared for what is coming.  But not all of them will apply immediately.  For example, my wife and I don’t believe that we will need our emergency food next month.  But down the road we are absolutely convinced that we will need it.

For the moment, one of the key things is to build up an emergency fund.  In my opinion, everyone should have an emergency fund that can cover at least six months of bills and expenses.  And now is not the time to go into debt.  Instead of buying lots of shiny new toys, now is a time to spend money on practical things that will be needed during the hard times that are coming.

Unfortunately, most people believe what they want to believe, and most people do not want to believe that hard times are coming.  They have an extraordinary amount of faith in the system, and they are convinced that this time will be different somehow.

So I wish them the best, but as for me and my family, we are getting prepared.

What about you?

Are you getting prepared?

PROTECT YOUR FAMILY BEFORE THE CRASH!

STOCK UP ON FOOD SUPPLIES WHILE THERE IS STILL TIME!

Liberty Food

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Collapse 6

FOR MORE GREAT MATERIAL FROM JIM WILLIE:

Jim Willie: “The Quickening” is Approaching Global Economic Markets

Jim Willie: When Deutsche Bank Fails, Barclays, Citigroup, and More Will Fall 

Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse

Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike

Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government

Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions

Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives

Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States

Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions

Jim Willie, the Crumbling Global Economy, and the Dollar Crisis

Jim Willie: What Do the Oil Black Market, NATO, and ISIS Have in Common?

Jim Willie; One on One -Taking Questions On the Most Pressing Matters of the Day

Jim Willie: The Fed, Yellen, US Dollar, and Negative Interest Are a Joke!

Jim Willie Explains U.S. Nuclear Threats to China & Russia Over Challenging the Dollar 

COMM-DollarCartoon07242009-2

FOR MORE GREAT MATERIAL FROM PETER SCHIFF:

Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History

Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy

Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People

Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence

Peter Schiff: Here Comes the Great, Great, Great, Great Recession!

Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”

CNBC Actually Admits Peter Schiff Was Right… Again (Video)

Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now

Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”

Peter Schiff: Take a Good Look at the “New” American Dream!

Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead

Peter Schiff: Warning! Economic Storm Clouds Ready to Rain

Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options

 

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PROTECT YOUR FAMILY BEFORE THE CRASH!

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Total 19 comments
  • hemiphopoc

    hi

    • Thanks for commenting first!

      Now my awesome comment will also be on the top:

      and it is:

      BWAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHAHAHAAHAAAAAA
      WHO GIVES A POOP? o wait, everyone who cares about MONEY xD HAHAHAHA your life insurance, your bank account, your this your that! hahahaha no./ dont be sad, be glad! The best you have to look forwards to, is a MINDCRACKING TROLLING, FOLLOWED BY AGONISING DEATH, AND HELL. yaaay! no more [email protected] no more queers! no more jews an the goy amerikans! EVER! haha! no more ammons an moabs! (thats the inbred white people, the people of wallmart 80% of whites) INBRED. TIME FOR WORLD CLEAN UP, BUT< FIRST YOU MUST SUFFER

      The signs are getting more frequent! i am so exited! when meteor hits, you see “prophet lisa an prophet lyn” and all their millions of other “prophets” come crawling outta the woodwork!

      2016! the YEAR OF THE FALSE PROPHET.

  • No video/audio as described only ad’s whats up with that.

  • Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
    Caravan To Midnight interviews Peter Schiff , Jim Willie and Michael Snyder.
    Make sure to visit
    SCUMBOOK | HOOTLE+ | THITLER | PINTAKERS | STAMPED UPON | DUMBLER
    to get the most out of this most tragic collapse

  • Still wondering what happened? looking for a fix ! visit :- http://www.annavonreitz.com

  • It might be for America but Australia just hit a 2 year high so basically the America reaps what is sown, Australia will just be more and more better off for it! Australia is the best country in the world. :cool:

    • No country is an island anymore – not even Oz. Once the dominoes start falling it’s over everywhere.

  • video worked with the Opera browser (not firefox, not chrome)

    • Probably some built in media-codec issue (I used Opera 35.0)

  • Jee BIN, 60 second forced AD? People will stop using it if you force a 60 second ad.. That is ridiculous.

  • All, guess someone is trying to rip off John B Wells’ content here. If you want to hear it, and you should, I would recommend you spend the $5 a month and join Caravan to Midnight.

  • I don’t expect America as we know it to last until an election in 2016. Months before that we should expect
    Economic collapse, chaos, hyperinflation, martial law, dictatorship, and the fulfillment of end times prophecy… read:

      Antichrist 2016-2019: Mystery Babylon, Barack Obama & the Islamic Caliphate

      The Two Witnesses of Revelation: Will Elijah and Moses Return in 2016?

    • Thank goodness for economic collapse because then you won’t be around peddling your book.

  • Anyone who thinks that the Fed doesn´t know what they´re doing needs to rethink it. Read

    http://www.truedemocracy.net/td13/19.html

    Even traitor Woodrow Wilson, who signed the legislation into law on December 23, 1913 after the traitor Congress passed this piece of trash. said, “I have unwittingly ruined my country.”

    Peace,

    Arlene Johnson
    Publisher/Author
    http://www.truedemocracy.net
    To access the rest of my work, which is internationally acclaimed, click on the icon that says Magazine.

  • The Federal Reserve has propped up markets, manipulated commodities, printed money in every conceivable form all to protect the current administration from economic disaster. Debt, stacked on top of debt, lies told without consequence are nearing the day of unraveling. Obama plans to walk out of the White House tossing the keys to the next President who will incur the largest debt ever mounted, so great is the debt it exceeds all the countries of the world debt. Unpayable, crushing the citizens with a burden so great it will take 10 generations enslaved to pay back China, Japan… If you can buy Silver and Gold, the dollar will fall from it’s stratospheric perch wiping out households in a final blow. Evil, wicked, Islamic radical and gay is our President, uncaring, psychopathic, delusional and warped Obama devastated America and the low I.Q. Liberals believed Free would never cost anything. Run, run fast, do not wait, the debt clock ticks ever closer to unpayable

  • If you haven’t started accumulating gold, you better start now…they are telegraphing what is next…getting rid of physical cash, then we are totally at their mercy…don’t wait, start getting a gram or two every couple weeks or month. http://bit.ly/1Qg9oL4

  • History books will not be very nice about any US President responsible for the fall of US petrol-dollar and hegemony, even if that someone is first “back” US Head of state… also to the much of US population such a fall would leave such deep trauma comparable to that of Japs after WWII, their empire, gone forever. Bankers, politicians, elite, for all of them, it was never about money, but whatever they could juice from general public with use of their money, with such a dollar tool gone, how could they continue to rule with billions of serfs in (bankrupt) nation(s)? No, elite is just to much of cowards to continue their living in an new world where their power-tool is gone, they will push nation into a bloody war, for two reasons, because there’s small chance they could become victorious and because even if they loose a war they could still climb to power in (desperate) times of peace (among the ruins). Turk-Saudi invasion was prevented in almost last moment by the reluctant US administration and stiff NATO opposition, but sadly there’s more then one way to skin the cat, so look at the East, at Korean peninsula, where Ides of March (Mars, god of war) are coming. :mad:

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