Once again, Jim sounds the alarm and says gold and silver coins go to Shanghai and Dubai as fast as they’re minted.
Why the, the interviewer asks, is the price of precious metals falling if demand is so strong? Jim explains – the Western financial elite benefits greatly from a suppressed gold (and silver) price. By keeping it down, they increase demand for the alternatives they make far more money on – stocks, treasuries, mortgage derivatives…. Yes, in order to sell metals cheaper than they naturally would sell, the bankers lose money on the gold end – let’s say $200,000,000 at a shot. But there are billions in profits to counterbalance it manipulating low interest rates, housing – and trillions to make in complex derivatives.
Of course, the paper price of gold (and silver) cannot go on forever, because Asian interests loaded with dollars are more than happy to trade them for underpriced gold and silver. So long as there are real vaults in the West to empty of real gold and silver, Asia will buy it cheap, every month, and not rock the boat while they are benefitting. They will thank short-sighted, greedy Western bankers for allowing them to accumulate real wealth (gold) in huge amounts for a low price. The minute there is nothing left to pillage (metal in Western vaults) to placate Asian interests, the gold and silver price will soar and the dollar will collapse.
Watch the video of the interview HERE
This is, at least, Jim Willie’s theory – which makes sense to me. Remember the “Diehard” movie with all the gold stored for various nations under the World Trade Center? That gold was conveniently “destroyed and lost” on 9/11 (it was already gone.) There is nothing left in Fort Knox; and they haven’t allowed an audit in a long time. Any place that does allow an audit has shifted their categories from vaulted metal to “deep storage assets” – “Unrecovered” gold as yet un-mined from the ground – I.O.U. contracts to replace what has been looted. Libya’s leader was eliminated for Libya’s significant gold holdings.
China is in control – but the corpse of America’s financial backbone (compared to scenes from “A Weekend at Bernie’s” by Jim Willie) is for the moment, still propped up by phony demand for US Treasuries. When China is ready, gold will soar and dollars will plummet. If America dares to speak out against the higher metals prices when China eventually doubles it overnight in order to shock America and keep accumulating gold – China can simply respond: If you don’t like the gold price, arbitrage it! If you think we are paying too much for it and pricing it too high, then buy it at your artificially low price and sell it to us at the higher price. And we won’t be able to, because there won’t be any left in New York or London metals exchanges. China alone is accumulating 1,000 TONS of gold per month. Russia and various Persian Gulf states are also buying. China is rich in crucial rare earth metals. Russia is rich in oil and gas. They can combine to dethrone the almighty dollar much like the “Eurasian” enemy in Orwell’s 1984.
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