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The source of this information is Jim Willie, and though an admitted doomer, he is still a respected source of economic information. The timing of this information also coincides with Jim Sinclair's recent announcement that gold and silver are set for a moonshot after "this last takedown" by Central Banks ends. Combine the information that China is now admitting they are launching a gold backed currency for world trade, with upcoming Basel III regs, and many other economic pitfalls, such as the fiscal cliff and debt ceiling negotiations, all pointing to this Spring as a date of severe stress on the dollar. Right now everything is pointing at a window of March thru June, however that could be pushed back, depending on circumstances and Central Bank intervention. People around here know that I have a gloomy outlook on future economic conditions, but I don't do a lot of prognostication because there are so many measures they can do to intervene if the timing of a collapse isn't on their schedule, but that said... Keep a close eye on the proposed circulation date for China's gold backed currency! You won't have a lot of time after that...The admission by China is however one of the signals I was waiting for... Keep your shit screwed tight this Spring, it could get Western around here...The typical human reaction to any infection, vermin, danger, or toxicity is to stand back, to isolate the agent, to trap it, to prevent its further spread or release, then to remove it in a safe secure way if possible using trained professionals. Eventually decisions must be made on the level of acceptable risk on the removal, like what is willing to be lost or damaged or killed in the process. Risk analysis, cost trade-offs, and minimization decisions must be evaluated and executed. The toxic agent in global trade, global banking, and global bond market is the USDollar. In 2009, the Jackass began making a certain firm point. Those nations that depart from the entire USDollar system early will be the leading nations in the next chapter, with stronger foundations, richer solvency, emerging economies, healthier financial markets, efficient credit engines, growing wealth, stronger political helm activity, and better functioning systems generally. Imagine a contaminated blood system that infects, corrupts, and destroys all interior organs from the spread of the toxin. Those nations that stick with the crumbling USDollar system stubbornly will find a horrible fate with devastating effects, rampant economic damage, broken financial markets, sputtering credit engines, tremendous loss of wealth, wrecked supply lines, poverty spreading like wildfire, ruined political structures, social disorder, isolation from the rest of the world, and a fast ticket to the Third World. That is EXACTLY what is happening in the last several months. A division has begun, as the East has been busily installing the next generation platforms, as related to trade, banking, and commercial integration... [ link to news.goldseek.com] Wont work. You cannot store infinite labour surplus value in a finite value store. Capitalism (the globalisation of capital) is marked by the rise of fiat currencies whereas mercantilsm (parochial trade) utilised this particular form of value store due to its rudimentary capital exchange mechanisms. The Chinese like all exporters are dependant on capital as are all the world's nations. The Chinese leadership know this having read Marx's Capital and are either setting up goldbugs for a major rip off or someone has their wires crossed. Communist or not, the one with the gold calls the tune. The proles are at the mercy of the elites, and elites are all the same, narcissists and sociopaths that tolerate no equality with others Yes. But you cannot accumulate the infinite value that is arising in the finite store gold represents and eventually, raging inflation would render China's export model a moot point. In other words., for no reason other than crass stupidity, all the fat cats who are feeding of the goose of globalised capitalism will shoot themselves in the foot. Capitalists internationally are dependent on one another. American investors on the investments in China, the Chinese on Western discount shoppers, the Arabs on continued purchase of their oil, why even the likes of Rupert Murdoch and Fox on the continued sale of bogus nationalism whilst they marry into Chinese, Muslims, Russian, Indian and other significant elites in their bid to network for liquidity. These aren't psychopaths incidentally,. Why, if tomorrow YOU found yourself the owner of a sizeable amount of money, you would very quickly devolve to this globalist behaviour. The system has its own inner logic. No amount of fumbling around in search of bogeymen will help you. You need to use your grey matter and reason your way through its dynamics. The reality is far more stark than all the stupid conspiracy nonsense.
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