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Dr. Jim Willie: Banks Are Beginning to Prepare for Nuclear Winter (Interview)
As per tradition here at TFMR, our pal Jim Willie stopped by to celebrate the 3-day holiday weekend of Labor Day in the U.S. You should be sure to carve out some time to give this audio a thorough listen. For this particular interview, Jim was rather than ask a bunch of questions, Jim was some general topics, and was free to ride a stream of consciousness to wherever his big brain leads him.
DO NOT MISS: Dr. Jim Willie: We Are on the Brink of World War; Americans Clueless – Pt. 1
For a point of contrast, Michael Snyder’s article below about Canada’s financial bubbles currently in search of pins works perfectly. In the article, he says CNBC is already reporting that banks over in Europe are “preparing for an economic nuclear winter situation.” So precisely what would an “economic nuclear winter” look like? It’s safe to say we don’t want to know, but we’re not far off! During the interview, the only question Jim was asked was, “Right now, the Fed is desperately trying to make it appear as if everything is doing ok, nothing is happening without their say so, and that they (the Fed) have total control the markets, but what’s really going on?”
Never one to disappoint, Dr. Willie shouts:
“Let me be very plain. I don’t pay any heed. I don’t pay any attention. I don’t give a crap about what the Fed says, nor do I give a crap about the non-farm jobs payroll report. I pay no attention to them. Furthermore, by that, I miss NOTHING!”
In the first stage of the interview, Dr. Willie explains how the Fed is in a terrible no-win position. To attract more people into Treasuries, the Fed simply has to raise rates, however they can’t raise rates without the economy imploding, and taking the Dollar with it. Anyone studying the Dollar knows that time is time is running out, however in the following interview you get as close to a date as you’re likely to get for when to expect collapse…
DO NOT MISS: Dr. Jim Willie: We Are on the Brink of World War; Americans Clueless – Pt. 2
Without going into too much detail, so you can hear for yourself, you’ll learn that China announced privately in March that it was coming out with a gold backed yuan, and that news was met with threats of war from the Unites States. Not that long ago, only in November, the U.S. signaled it would be willing to go to nuclear war with Russia and/or China over U.S. Dollar supremacy, which you might remember best by our best Kim Jong-un impersonation (North Korea) when the U.S. began launching Trident II Nuclear Missiles (actual picture shown below) off the coast of California in a show of force.
At the time. allegedly China backed down, but issued a warning to the U.S. claiming that not IF, but WHEN the Dollar collapses, the world will blame the U.S., but that had no effect on the U.S. decision not to back down. So, China finished testing their replacement for the U.S. SWIFT Banking system.
The SWIFT system is the banking system used by the United States and the West to move money from bank to bank. It’s also the means by which the U.S. imposed sanctions on Iran, how the U.S. has been able to make threats against banks in Switzerland, and how we’ve been able to sanction Russia when necessary. Investopedia explains:
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. It is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes.
In anticipation of total the collapse of the U.S. Dollar, the Chinese have created, and successfully tested what they call The Chinese Interbank System (CIPS). With an alternative system now in place, tested, and fully operational, that just means the death of the Dollar that much quicker. Don’t forget that in an earlier post, Dr. Willie Took the Time To Explain How the Loss of the US Dollar as Reserve Currency Affects You Personally as a U.S. citizen. HINT: It’s REAL BAD!
DO NOT MISS: Dr. Jim Willie Reveals 2nd Death Threat From U.S. Government (Video)
Now, just this past month, Dr. Willie explains that four very high level bankers from four different banks have come forward and said that in July, there were 8 systemic market failures that the banks were barely able to paper over. According to them, the Dollar is not expected to last through the new year. So, anyway, have fun listening. I tried to keep my input to a minimum.
Moving forward, aside from the 5-6 posts I think everyone should read, I’ll no longer be including links to older podcasts from both Dr. Jim Willie and Peter Schiff at the bottom of every single post. I have some exciting new things coming for those who enjoy the financial interviews, so I encourage you to sign up for my newsletter here, so you don’t miss out!
LISTEN TO THE BRAND NEW LABOR DAY JIM WILLIE INTERVIEW:
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Things have not been this bad for the Canadian economy since the last global recession. During the second quarter of 2016, Canada’s GDP contracted at a 1.6 percent annualized rate. That was the worst number in seven years, and it was even worse than most analysts were projecting. This comes at a time when bad news is pouring in from all corners of the global economy. While things in the United States are still relatively stable for the moment, the same cannot be said for much of the rest of the planet. Canada in particular has been hit very hard by the collapse in oil prices, and the massive wildfire in northern Alberta back in May certainly did not help things. The following comes from the BBC…
The recent drop in GDP was larger than analysts had projected, but not far off the predicted 1.5% loss.
“[The figure] could have been worse, given the hit from the wildfire, and clearly confirms the disappointing downward trend in exports over the last few months,” said Sal Guatieri, senior economist at BMO Capital Markets.
In May, wildfires devastated the parts of northern Alberta where much of Canada’s oil and natural gas is produced.
For many years, high oil prices and booming exports enabled the Canadian economy to significantly outperform the U.S. economy. But now conditions have changed dramatically, and all of the economic bubbles up in Canada are starting to burst. This includes the housing bubble, as we have seen home sales in the hottest markets such as Vancouver drop through the floor late in the summer. In fact, it is being reported that home sales during the first two weeks of August in British Columbia were down a whopping 51 percent on a year over year basis.
Do you remember the housing bubble in the U.S. that helped fuel the last financial crisis? Well, a very similar bubble is now bursting up in Canada, and some investors have positioned themselves to make a tremendous amount of money when the whole thing comes violently crashing down. The following comes from Wolf Richter…
This summer, famed short seller Marc Cohodes came out of retirement (he now raises chickens on a farm in Sonoma County, CA, and sells the eggs for a fortune in San Francisco) and jumped into ring with a number of interviews on TV and in the print media, and this too rattled some nerves – largely because it hit home.
“I think it’s a money laundering-induced market,” he said as we reported at the time. “Where the local politicians, or the BC Liberals, are kept or in cahoots with the real estate brokers, developers, lawyers, that angle. And they have sought Chinese money to keep the market propped up and it won’t last,” he said. “China has capital controls on, and Vancouver has become the money laundering mecca of either the world or North America, and something is going to change and change drastically.”
If the price of oil does not rebound in a major way, the Canadian economy is going to continue to deeply struggle.
Meanwhile, one of the biggest economies in Africa is also shrinking. Nigeria is yet another oil-dependent economy that has fallen on really hard times, and during the latest quarter their GDP shrunk by 2.06 percent on an annualized basis…
Nigeria has slipped into recession, with the latest growth figures showing the economy contracted 2.06% between April and June.
BE SURE TO CHECK THELASTGREATSTAND.COM FOR SURVIVAL GEAR!
FREE DETAILED GUIDE TO SURVIVING ECONOMIC COLLAPSE OR MARTIAL LAW HERE
The country has now seen two consecutive quarters of declining growth, the usual definition of recession.
Its vital oil industry has been hit by weaker global prices, according to the Nigerian Bureau of Statistics (NBS).
There are so many signs that indicate that the global economy has entered a new major downturn. Yes, the U.S. is doing better than almost everyone else for the moment, but this will not last indefinitely. Our planet is more interconnected than ever before, and just as we saw in 2008, big trouble on one side of the globe quickly affects the other side.
Today we also learned that the 7th largest container shipping company in the entire world has completely imploded. Total global trade has been declining for quite some time now, and it was inevitable that this sort of thing would start happening…
After years of relentless decline in the Baltic Dry index…
… today the largest casualty finally emerged on Wednesday when South Korea’s Hanjin Shipping, the country’s largest shipping firm and the world’s seventh-biggest container carrier, filed for court receivership after losing the support of its banks, leaving its assets frozen as ports from China to Spain denied access to its vessels.
Over in Europe, an emerging banking crisis continues to simmer just under the surface.
Most Americans are completely oblivious to the fact that major global financial problems could be just around the corner, but CNBC is reporting that banks over in Europe are “preparing for an economic nuclear winter situation”…
European banks, in particular, have had a very tough six months as the shock and volatility around Brexit sent banking stocks south. Major European banks like Deutsche Bank and Credit Suisse saw their shares in free-fall after the referendum’s results were announced. In the U.K., RBS was the worst-hit, with its shares plunging by more than 30 percent since June 24.
The current uncertainty over when the U.K. will start the process of quitting the EU has banks on tenterhooks. But a source told CNBC that banks are “preparing for an economic nuclear winter situation.”
Speaking on the condition of anonymity due to the sensitive nature of the topic, a source from a major investment bank told CNBC that financial services firms have put together a strategy in place that takes into account the worst-case scenario that could happen by the end of this year.
So precisely what would an “economic nuclear winter” look like?
I don’t know, but it certainly does not sound good.
We should be thankful that things have been as calm and stable as they have been so far in 2016, but nobody should be fooled into thinking that our problems have been fixed.
The truth is that the global debt bubble is at an all-time high, the banks are being more reckless and are more vulnerable than ever before, and troubling economic numbers continue to pour in from all over the planet.
The stage is certainly set for the next major global economic crisis, and it isn’t going to take much to push the world over the edge.
BE SURE TO CHECK THELASTGREATSTAND.COM FOR SURVIVAL GEAR!
FREE DETAILED GUIDE TO SURVIVING ECONOMIC COLLAPSE OR MARTIAL LAW HERE
IF YOU READ NOTHING ELSE, THE FOLLOWING POSTS ARE ESSENTIAL:
Peter Schiff: Don’t Believe the Hype! The Real Economic Fallout From Brexit (Video)
How Will the U.S. Conduct Trade With Worthless U.S. Dollars and No Gold? (Video)
Why Did Illuminated George Soros Liquidate 37% of His Stock to Buy Gold? (Video)
What Exactly Does Global Economic Collapse Coming May 2016 Mean?
Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
Economic Implosion Will Lead to Stock Market at 5,000 by 2017 Forecaster Says
FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie: Precious Metals Market (COMEX) on the Verge of Default (Video)
Dr. Jim Willie and the Systematic Bankruptcy of Western Society (Video)
Dr. Jim Willie: New World Order Elites in Absolute Terror of Gold Standard (Audio)
Dr. Jim Willie: Deutsche Bank Valued at -$1 Trillion; Economic Chaos Ahead
Dr. Jim Willie: The Corruption Cannot Stop the Masses! 3 Part Interview (Videos)
Dr. Jim Willie: Brexit Result Could Detonate Deutsche Bank!
Dr. Jim Willie: We’ve Got “Educated People” That Are Stupid As Bedposts
Dr. Jim Willie: Death Sentence for Banks, Businesses, Families, and the US Dollar
Dr. Jim Willie: There Are No Prisoners Taken in The Global Money War
Dr. Jim Willie: 7 Signs U.S. Economy Collapses; Gold Will Soon Back US Dollar!
Dr. Jim Willie: Western Economic Markets Collapsing; Eurasian Markets Rise
Dr. Jim Willie: The Dollar is Dead! Even Mainstream Media Realizes it!
Dr. Jim Willie – Secret Meeting at the G20 to Take Down the US Dollar
Dr. Jim Willie: Financial Deals Happening Behind Closed Doors; US Not Invited
Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions
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SO FUNNY. SO TRUE!!
Jim — You Sir a true giver of truth n i thank you !!!