Systems are Breaking in Treasury Bond Market-Dr. Jim Willie

goldenjackassBy Greg Hunter’s   (Early Sunday Release)

Financial analyst Dr. Jim Willie says forget about the government shutdown and the debt ceiling. It is the Treasury market that is the big problem.  Dr. Willie says, “What’s going on with the Treasury bond market right now is systems are breaking . . . they broke the interest rate swaps.  They are not functioning anymore. . . . Foreigners are dumping Treasuries.”  Dr. Willie contends this is what caused the spike in interest rates in the past few months.  And what was the meeting last week of all the big bankers at the White House?  Dr. Willie speculates, “I think it was an emergency meeting because they cannot successfully defend the dollar anymore, not fend off the big Treasury bond sales.”  Dr. Willie thinks, “Reversal in the Treasury bond market could be a death blow for these zombie New York banks . . . These big banks are in danger of imploding”   Dr. Willie predicts, “I don’t think the Fed is going to taper its bond buying.  I believe they are going to double it.”  Dr. Willie goes on to say, “The Fed will say let’s continue QE, and instead of suffocation from rising rates, we’ll have drowning from rising costs. . . . They are going for drowning because it’s slower.”  Join Greg Hunter as he goes One-on-One with financial analyst Dr. Jim Willie of    

  1. John

    As you can see, I’m on your website and there is no interview with Jim Willie. The youtube audio did not appear. Must be a computer glitch.


    • Greg

      It’s up now John. Sorry.

  2. Doug

    All of you should listen to what’s being said here. He has quite a track record these last few years with the most important being the prediction of the ultimate refusal by the world at large to accept the dollar with the concomitant repercussions.

  3. Doug

    Oh yeah, Don’t forget , the halfwit queer in the white house is helping all of this to destroy the United States of America as we have known it. We all should know he is an illegal usurper of the office of president and is dedicated to socialism as he was educated by his father; a certain Mr. Marshall who was a black man who hated his country of origin because we are all racists. Of course, If we say this out loud we are accused of being racists, but it is only the truth. Mr. Obama was a foreign student in the USA with all the benefits of the 1% who helped him ;but of course he is only a puppet.Why don’t we the people spend our days golfing??? WE need to make a living, AKA, WORK which of course he never has. R U getting the picture out there?

    • Allen Ols

      I concur

      • Ken

        I saw the writting on the wall long ago. How does someone get to be president without any experience. What’s even as frieghtening are the people who voted for him. It’s looking more and more like these people are really going to get what they voted for.

    • Galaxy 500

      Really? You wrote ,”half witted queer” about Obama? I agree that he is “evil” extent that will likely be unknown for decades. I agree that he is bound and determined to destroy the USA and it’s middle-class.
      Doug, your rant reads like Ann B’s talking about Obama being gay. I have never read anything that is credible that suggests he is gay but what if he is? Being gay is like being born with a club foot.
      I do believe that he is a socialist and/or borderline communist. Children learn what they live and Barry was raised as a communist and Moslem. I believe based on his apology tour that he truly hates everything that made America great. His record indicates he will lie to get what he wants. Let’s just stick to the facts and leave the name calling to the crazy woman living down by the river in her van, Anne Barnhart (spelling ??)

      • mohammad

        Being gay is not like being born with a clubfoot.
        the latter had no choice, the first CHOSE that sick behavior you do not find in animals.
        Worse is making them able to adapt kids by LAW. what a pity to this society allowing its own destruction with its own hands.
        This behavior is what brought misery to previous nations and will bring misery to this one!

        • Galaxy 500

          While it may be that a small minority choose the gay life, I think most don’t. There was an article in a leading science journal about uses (male sheep) being breed to the extent.that they perfected other males. A Doctor of neuroscience developed a shot that cured them. There was a big outrage among the gays as some of the militants (and likely the ones that choose) thought that they were going to be listed as curable. if you can’t find It, let me.know and I’ll find it for you.
          I do agree that gay zealots are trying to force children into believing its ‘ok’ so try it to the harm of the country.

          • mohammad

            Nope !
            you can twist it and turn it the way you want.
            You can roll a turd in powdered sugar, but that won’t make it a jelly donut!!!!

            • Greg

              Let’s not be this graphic please.

          • Galaxy 500

            And you can ignore genetics but that doesn’t mean that they don’t exist. I guess this will be another subject we will have to disagree on.

        • jharry

          Hey Mo,
          Not that I approve, but one of my male dogs (Judas) tried to hump his Dad (Samson) this morning on my porch right in front of me. I don’t know about you, but I’ve seen this in nature quite often.
          So what is natural?

    • Jason Emery

      Gawd, doug, have you ever been brainwashed. If you spray painted Obama white he would be indistinguishable from his predecessor, Cheney. That phony ‘Syria just used poison gas’ whopper didn’t work because dimwit Obama practically copied Cheney word for word from the Iraq days.

      It’s not Democrat versus republican. It’s how the two parties can serve the banks, and as anyone can see, the answer is ‘very well’.

      If the Republicans don’t like socialist medical programs that heap trillions of dollars of unfunded liabilities on the back of the American taxpayer, then why don’t they repeal Bush-Cheney socialist prescription drug benefit for Medicare?

      Is Obama a socialist, just like Cheney? Yes. In fact, cheney is probably bossing Obama around behind the scenes, just like he did to bush.

      • FlutterbyNight

        You are correct the issues in our country begin with all parties, there is so that we as a people and country can do we could take a page from the Iceland in what they did and saved their Country from the same thing happening to us at this very moment. this country has never been run buy the people it is run by the Banking system ….PERIOD Until
        to many backside players with untruths with a loss for simple Humanity

    • Otto

      According to research of law educator Dr Eduardo Rivera:
      The Office of President of the United States of America, the Office of President of the United States and the Office of President are three different Offices.

      Only when the Constitution of September 17, 1787 is adopted, does that Constitution require that the Office of President be filled by “a natural born Citizen, or a Citizen of the United States.” George Washington was a natural born British subject and when, on April 30, 1789 he took the Article II Section 1 Clause 8 oath to become President of the United States, he had not resided within the United States for fourteen years. George Washington was not eligible to fill the Office of President until after July 4,1790.

      Washington was elected President of the United States of America on April 6, 1789 and took the Article II, Section 1,Clause 8 Oath of Office for President of the United States on April 30, 1789. Neither the Office of President of the United States of America nor the Office of President of the United States requires citizenship of any kind to hold office.

      Both Texas Senator Ted Cruz and former Governor of the State of California Arnold Schwarzenegger are eligible to fill the Offices of President of the United States of America and President of the United States, as neither Office sets out requirements for eligibility to those Offices.

  4. mike gunther

    Has any info come out about Obamas big banker meeting was about last week, at least the sanitized MSM version?

  5. Chris

    Banksters visiting Oblunder? Beware of dogs that do not bark.

  6. Jerry

    Wow Greg my greatest fears are being realized. I thought we had a few more months to prepare, but if Jim Willie is correct about the Bond Markets we are at the trigger point right now. How convenient. Obama and the Democrats will just blame the Republicans for it, and say it was caused by the shut down, and talk of default on the debt ceiling.

    I have been watching the Bond selling and the Gold buying the last three months by the Chinese and Russians. While we were busy printing money, the Chinese have been buying tons of Gold and setting up a new exchange system. And if Jim Willie is correct (which I think he is) many countries are lining up to exchange on it, without us. I think the writing is on the wall and they can see where this is going.

    Greg I think you asked Jim Willie some really good questions. At this point its anybody’s guess as to how long the government can stall this off. I wish I could have listened into that Bank meeting last week with the Bank heads. I’m assuming since nothing was reported by the MSM that it must have been pretty bad. The only time they come out from under their rock is when they are cheerleading for Obama.
    Just remember Greg that the Bretton Woods meeting is this Wednesday, and that the NWO has their own timetable. I think we will see an acceleration of events as we move though the month of October after this all important meeting. I hope to God I’m wrong.

    Thank you Greg for bringing Jim Willie back on. We really needed a straight shooter at this point in time, and he definitely fit the bill.

    • Greg

      I think if they have their choice they would prefer the beginning of next year, but they may be forced by global forces to take action earlier. Lots of coming choices and all are bad.

  7. Murray Perry

    I think the monetization is to pay the banks losses on their derivatives bets. My question is, if they are the losers, who are the winners? Where is the money ending up?

    • brain

      The winners are never disclosed but i assure you it is them under another entity.

      • Charles H.

        I concur. It has to be a Shell Game, where one hand washes the other. The Powers may share some to gain their ends: but never enough to lose position of Big Winner. A closed system; sleight of hand. Only, and unless they are absolute gambling fools – which I doubt.

  8. Glen

    Mr Hunter To go along with Jim Willie’s suggestion about Panama unpegging the Balboa from the US dollar is this article. Please Forward this to Jim Willie. President Martinelli has been unhappy with the Balboa/US dollar peg for a good while.
    Panama leader tells Germany he wants to adopt euro | Reuters…/us-eurozone-panama-germany-idUSBRE89E0TH20…‎
    Oct 15, 2012 – BERLIN (Reuters) – Panama would like to introduce the euro as legal tender … President Ricardo Martinelli told German Chancellor Angela Merkel on … a look at the ways people around the world use Twitter, from Internet …

    • Greg

      Wow!! Powerful back up to this interview!! Thank you.

      • Glen

        When I heard Jim Willie discuss Panama banks I happened to remember reading the article. It just clicked. Sounds like Mr Willie is on to something and it would be real big news if he is right about Panama unpegging the Balboa from the dollar. The dollar has been pegged to the Panamanian Balboa for over 100 years.

        • mohammad

          Out of all places it is BERLIN (Reuters)

        • JC Davis

          Glen. The link did not work for me. Could you check and repost the link. thanks

          • Greg

            It’s working now JC.

    • Larry Capinga

      Just my 2 cents worth. I live in Panama. The Taft Agreement of 1904 is the basis for the use of the US Dollar as the currency of legal tender in the Republic of Panama. There are certain things that lead people to think that the Taft Agreement as it stood is no longer in place, because Panama recently minted B/. 1.00 coins, which would be in defiance of the Taft Agreement.

      Also as stated above, President Martinelli has been romancing the ECB into some sort of deal where Panama can become a sort of a hub for Euro transactions within Latin America, and where the Euro can float freely allowing local business to trade in Euros as well as USD. Nothing firm so far, and Martinelli is out of the office in less than 1 year, so that is most likely not going to happen.

      I don’t think that US interests will allow Panama to go rogue and float 2 currencies, the other being EUR. Panama is embracing FATCA, so unless Panama wants to have a parallel system where you can bank in EUR and avoid FATCA, and have a USD banking system fully FATCA compliant, I don’t see this happening in the near future.

    • ALLEN

      Glen/Greg: US dollar or Euro- won’t matter? We have been told by the elite’s (banksters) how they plan the world money(currencies) will collapse. Europe will collapse first and shortly after the USA will collapse. It will start in the derivatives markets- they why they were formed long ago. This is all part of the elite’s plan. YThis doesn’t just happen, it’s a plan.

      Dr. Willie == always great.


      • mohammad

        no Allen Europe will not collapse first and the euro is Jim Sinclair’s bet.
        I am sold on this from a different view that i put in previous posts.
        Euro will be around for a LONG time and will compete with the loser dollar in a basket of international currency that will have some kind of attachment to gold or a different commodity like oil.
        Euro is GERMANY, and if you notice the takeover of European sovereignties that is not many talking about, they say austerity measures, but no one for some reason puts the right phrase or the right face on it and say Germany has occupied Europe.

        • Galaxy 500

          Yes, Germany is the only reason that the Euro hasn’t collapsed yet. Germany is a great country but it can not support the unproductive and grossly overextended countries (the entire eurozone minus Germany and a few small Nordic countries). The German people were robbed by the French bankers at the end of WWI and they are not going to let it happen again.

  9. mohammad


    Few questions were nagging my mind and i could not find an answer to them so far unless i entertain a theory but no facts to support.

    We all know that the price of precious metals is where the finger of the feds puts it on the chart, they control the CFTC (which they shut their investigation down) and they allow naked short positions to be taken so:


    That defeats any logic and their purpose of creating the inflation they wish, they can have it up slowly and orderly (like what Jim Reckards suggested on many occasions) hitting more than one bird with one stone, 1- orderly inflation which will serve better than QE since the dollar will not be watered down. 2- deprive the other parties (China, Russia… and if I may include GERMANY) from getting PMs at discount price?
    One can argue that we are giving the Germans their gold back through this wonderful sale Comex has.

    – WHY THE DEFAULT CREDIT SWAPS THAT SUPPORTS GERMANY AND ITS EURO, the obvious competitor of the Dollar!!!!!!!?

    We kind of helped the euro from the collapse and propped Germany with those swaps in its acquisition of the whole European sovereignties, DESPITE THE FACT THEY KICKED… Let me repeat this one please…. THEY KICKED US OUT OF OUR MILITARY BASES ON THEIR MAIN LAND?


    Let me quote from the link something goes to Catherine Fitts:
    ” A company that overstated its earnings by the billions would have many skeletons in its closet, and it was time to get rid of them. According to forensic investment expert Catherine Austin Fitts, The Powers That Be may have never invested in Enron, and instead created bogus financial assets for it. Enron’s biggest trading partners were J.P. Morgan, Chase, Citibank, Goldman Sachs, UBS and the Federal Reserve Bank of New York (all Rothschild affiliates)”

    any one with some sanity can tell that the rebel of the buildings was mostly dust, not much of rebel was their, not even demolition can do that.

    AM sorry i cannot help but think and think, what Dr. Judy Wood mentions is SIENCE, FACTS, I cannot close my mind and not see it.

    So in essence what i want to say is that the gigantic wealth transfer to the east (including Germany) happened after 9/11
    Actually i started thinking now that China is under the armpit of Germany and not the other way around.

    If we do not understand 9/11 we will never understand the financial turmoil we are in now.

    9/11 happened with advanced technology as per Dr. wood (I am sold on what she said)

    Dr Joseph Farrell says that all the advanced technology that disrupts the matter and can literally turns it into dust was in the hands of the nazis that found their way to Argentina

    The BIS is a previous nazi bank

    So the theory is:
    Who did 9/11? and was it the trigger that held US hostage to this frightening technology that brought back to Germany the loots of the nazis US enjoyed for 60 years?

    • Allen Ols


      Super duper site the ”third world traveler” saved it for’later off line reading ad judy wood

    • Rebecca

      Thank you for the great links.

      If you have not hear this audio (2nd/3rd hours specifically with Jerome Corsi), I think you will find it interesting.

      • mohammad

        I listened so far one hour and he sounds interesting indeed.
        Few things to disagree with him so far, one is the thought that the Saudis bought Obama, i know he is wrong on that, actually the Saudi are so furious because of his romance with Iran.
        Petro states are mad!
        Another disagreement is the thought that less drones means compromised security, hitting civilians and calling it COLLATERAL is the worst thing happened with our foreign policy, however he made it up for that point when he criticized the administration for not allowing the relatives of the injured civilians to meet with the congress.
        I will listen to the rest of it and i will tell you my thoughts.
        thanks for the link.

    • Henry

      Mohammad, 9-11 was obviously an inside job, and the towers and WTC7 were obviously demolished, but Judy Wood is not credible. Her space beams, and her no planes hitting the towers nonsense are rejected by all legitimate researchers. She fits the profile of a disinformation shill. If the steel in the towers was, as she claims, “dustified” by some magic super secret weapon, why were trucks hauling steel from the WTC site for months? Her “theories” are laughable nonsense.
      Here are some credible sites with legitimate professionals and peer reviewed research.

      • Galaxy 500

        Henry, Amen! Just because I can’t tell you exactly what happened doesn’t mean I can filter out horse pies from list of theories.

      • mohammad

        No i do not think it is an inside job.
        I do not think that the authorities knew about it.
        However i think the cover up was for a good reason, if who ever perpetrated 9/11 threatened to do a bigger one i can see where the authority will not come open on it. I do believe there are honest good people inside our decision makers circle that still care for us silently, I sense that the authority was held hostage and blackmailed by this atrocity.
        This is likely the reason why all the bail outs and the financial meltdown came after.
        The amount of steel hauled is NOTHING, again let me please stress on this, NOTHING compared to the 1 million 500 thousand tons the weight of the two buildings.
        I will elaborate a little on this laughable magic funny power Dr Judy was talking about that amuses you:
        The reunion of Germany was very important, it kicked a lot of classified documents about the war especially in the older part of Germany that is now under POLAND where the test site of the “Bell project” is there.
        There are documents and indications that the three pillars of that project (finance, security, science) went to Argentina at the end of the war.
        the theme of the bell project is weaponizing the zero point energy that you can achieve if you stress the fabric of space/time and that is done when you rotate that fabric and hit it with high bolt energy, similar to wringing an empty can of soda with your hands, if you consider the space time is the empty can you can bring the ends of it closer to each other by doing so.
        The bell is in essence a two counter rotating drums with plasma in between with an access to very very high direct electricity that can pulse it and stress it (am simplifying it here).
        the zero point energy is something can be beneficial to mankind but if weaponized it can make a hydrogen bomb look like a fire cracker.
        There are all the indications in dr judy’s work that there was an unconventional method used in 9/11 i do not want to go through it you have the video and it is very convincing (to me at least).
        If you choose to look the other way please feel free to do so.

        another interview of dr farrell here on project camelot that is worth looking at:

  10. charles

    Greg, can you give a short summary of what we small investors should be doing and also a quick summary of Jim Willie’s presentation in language everyone can understand. Readers, please click the donation button and send Greg some money for all of his hard work.

    • Greg

      Charles Warner,
      Stocking up on everything and getting as much of your assets under your direct control as possible. When this reset comes, many will lose everything in devaluations, confiscation and inflation.

      • Allen Ols

        Yes I plan on food. Fuel and hard assets ie/ generators- tires and such will be expensive and hard to find, alot by barter. This ould go on for months or more, so cash out stock up all u can, as jim says we could be isolated.

      • Amman

        Greg, I hope you have a place out in Maine or New Hampshire or Vermont. You understand the great Reset might linger…

        • Greg

          For the totally unprepared it will be a total disaster.

      • JC Davis

        Greg. A few years back you told me the troubles would happen when the derivative’s begin to fault. I did some study on derivatives but could not understand how they work. Like Charles Warner I ask can you or someone in this think tank simplify it? Good interview.
        Many thanks to, and the think tank.

  11. Allen Ols


    Extremly credible. The jackass.

    With, Jim, PC Roberts, manirino, hudes, u have the dream team

    I really like egon von greyhertz out of switzerland

    [email protected]

  12. MAL

    Hi Greg,
    There is an obscure book I read about a year ago called ” Fiat Money Inflation in France”. It was written by Andrew Whitehead, President and professor of history at Cornell and U.S. ambassador to Germany and Russia. Professor Whitehead relates how the government of France after the revolution began trying to deal with the stagnant economy with repeated rounds of fiat money printing. Each successive round of ever growing fiat money caused ever growing bubbles and bursts. Merchants began demanding payment in gold and silver coin or foreign currency because the inflation became so bad they couldn’t restock their stores. The revolutionary government responded by encouraging rioting, looting and theft and imposing draconian criminal penalties on anyone who refused to accept their worthless fiat money. Farmers couldn’t afford to replant with what they received for the previous harvest. The government sent out the army and the police to confiscate farm equipment, livestock, stored grain and sometimes even the farms causing severe food shortages and increasing food prices. Whitehead even relates stories about carriage drivers making and losing fortunes in the volatile stock markets based on tips they received from the brokers they were driving to work. The end result was total collapse and Napoleon. The parallels to what is happening today are striking. The amazing thing about Professor Whiteheads book is that it was written in….1910, before the Federal Reserve, WW1, the Weimar Republic, the Great Depression, WW11, Argentina, Zimbabwe, the Great Recession, QE 1, QE2,QE infinity, etc.

    • Galaxy 500

      Thanks for going to.Amazon

      • Trotski

        Greg, If you could get Whitehead, it would be great and a miracle!

  13. Fraser

    Thanks Greg – great interview as always!

    I’ve been digging a bit myself and stumbled across Jim Willie’s friend’s (Rob Kirby) interview:
    which suggests that the Treasury’s Exchange Stabilization Fund (ESF) is in fact THE mastermind behind everything (starting at 3.25).

    This leads to the link of Eric deCarbonell’s five part discussion of the ESF and all of it’s crimes since inception in 1934:

    OMG, talking about “going down the rabbit hole”…
    It seems that the ESF:
    – Is above Congress and any law
    – Controls the Fed and the bankers
    – Conrols the IMF and World Bank
    – Controls the media and education
    – Assasinated JFK
    – Set up Iran Contra
    – Starts wars around the world
    – Controls drug trafficing and money laundering
    – Was probably responsible for 9/11
    – Is currently imploding

    All this researched and documented by no less than the grandson of Frank Vanderlip who (helped) set up the US Federal Reserve on Jeckyl Island!

    Holy sh_t, if even half this stuff is true, we are in for one enormous take-down!!!

    • Fraser

      PS. In the link above, dated Jan-2012, Eric deCarbonell also stated that Panama was seeking “un-peg”. Possibly un-related, but shortly after “exposing the ESF”, Eric fled to Russia… so his commentary may be closer to the mark than many gave him credit for at the time…

  14. Eric

    Jim Willie is one of my favorite. He describes the global picture in motion. He is one of the few that takes a shot at the global geo-political and economic situation. Another great interview.

    I live in Thailand and this is what I got today in 2 of the national newspapers (Bangkok Post and Post Today the latter being a Thai language daily aiming at the local business class).

    This is on the ground evidence supporting what Jim Willie has been saying for months now, if not more. Emerging nations (like Thailand) are looking at ways to use their excess US dollar reserves to finance infrastructure projects.

    The Thai government is looking at creating and using a sovereign wealth fund to finance a 2-trillion-baht high speed train infrastructure and 350-billion-baht water management plan.

    I short, what they say is that they will dump their excess US treasuries to finance national infrastructure construction projects.

    This being said, the Thai government obviously has interest in ensuring that its excess reserve of US treasuries retain its value until they have finished “unloading” it. The time frame for the Thai government is within the next 5 years… My guess is that there must be some coordination at the highest level between emerging nations to unload the excess US treasuries in a smooth and coordinated fashion. None of them want to see their value plummet to the ground before the get rid of them.

    How much longer can such a fragile equilibrium be maintained? Who knows. I doubt it can go for another 5 years. If panic comes in then it will become the biggest stampede for the exit ever seen in the history of finance. One thing for sure, unless the USA finally gets its budget under control (which they won’t because they can’t) the Fed will have to mop up all these treasuries coming back home… QE to infinity. They are trapped in their own web of endless debt. And the arrogant fools have dumped their valuable gold out the door to defend their toxic IOU paper.

    Sovereign fund likely to be ready by 2015, says Ampon

    “The Bank of Thailand remains committed to moving ahead with plans to establish a sovereign wealth fund, pledging it will be up and running by 2015, says Ampon Kittiampon, the central bank’s newly appointed chairman…

    He said the fund is being studied by a working panel in order to make the best use of surplus foreign reserves and ease the government’s burden for international borrowing to finance state spending.

    At present, Thailand has an estimated US$ 160-170 billion in foreign reserves, said Mr Ampon”…

    • Greg

      Thank you for adding to the validity of this interview with Dr. Willie.

  15. Anne Elliott

    I had a dream last night (before I listened to Dr. Willie this morning). I was working in a Federal building, and there was a massive earthquake. Everybody settled back down pretty quickly after it and kept working, but I looked outside and saw that a huge, deep sinkhole began to form. It was so deep that couldn’t see the bottom, and it began spreading towards the building. I told everyone we had to get out of there, but not many listened, because they wouldn’t look outside, and it looked the same as always on the inside. I woke up just as the sinkhole began swallowing the edge of the building. After listening to Dr. Willie, I begin to think that the Lord showed me how the collapse will come; with some people still saying “it’s ok” because they won’t look at anything outside of what they can see in their normal routine.

    • Greg

      Anne Elliot.
      Profound dream. Thank you for posting this here. What a visual!!

  16. mohammad

    This is what seems like a shot fired back at the west as an answer to their Cyprus shot that was fired at the Russian’s money a while ago:

    MOSCOW–Russia’s government is temporarily seizing $7.6 billion in savings from non-state pension funds while it carries out inspections, a move critics say looks like a “confiscation” aimed at plugging a hole in next year’s state budget.

    • Oracle 911

      In Russia something else is in the play than the state budget, because if I recall, Russia have budget excesses for long years. Maybe it is something with money laundering or other illegal activities.

      But the question still remains, and it will be answered later.

      So, what is really going on, what is happening?

      • mohammad

        Like some one was trying to fund Russian spring then their money got confiscated????

        • Oracle 911

          Or thwarted the funding for terrorist attack on Winter Olympics Games in Sochi funded with Saudi money, who knows. Anyway it won`t be the 1st case Russian intelligence thwarted something serious.

          Footnote: according certain sources Bandar Bush, the Saudi minister of intelligence threatened Putin with Chechen terrorist attack on Winter Olympics games in Sochi.

  17. Andy

    I’m sorry, but this guy here is screaming at his microphone.

    I feel like I’m listening to Cramer or this other guy on CNBC.
    Why are they screaming all the time?

    I’d take them way more serious if they had a proper articulation and proper backing.

    • roguefaction

      Yes, I too am sorry… that this is apparently your first encounter with Jim Willie. His style is perhaps histrionic… but that is only in keeping with the historical nature of his theme – which is totally ignored by the mass media. I’d be screamin at the top of my lungs as well! By all means delve into the body of work available on the net from the Big Jimbo.. and then get back to us when you are fully informed about both his foibles… and his portfolio of profound prognostifications about the future. Till then.

      And to Greg… here is the message I left on the site where I found this interview. It’s a commendation of your work, and I’ll leave it at that.

      “What a difference a day makes.

      You gave the JimWillie\TurdFerguson interview to us a day or so ago. Now this one on one with JW and Greg Hunter as follow up.

      Listen closely to the [call and response] sequence of Greg’s questions\interruptions…and Jim’s answers. Contrast and compare with the “turds’s” podcast. Jim is totally on top of his game here. Why?

      Greg Hunter is a journalist in search of the proverbial -”real story”…. “turd” is a goldbug hack looking to please his subscriber base. The cream always rises. You have captured the essence of what anyone who is left behind in the ‘fallen lands’ needs to know of this moment.

      I wish you every success in your endeavor here, as you have clearly cut to the core of what matters in a sea of disinformation. I only hope it can be accessed and appreciated by the maximum number of CAMPFEMA pre-regristrants possible.”

    • jeff

      Why is this guy screaming? Well, maybe it’s because not only are gangsters running the system and robbing us blind, but the vast majority of supposed professionals are either blind to it or complicit. And then the average Joe is completely clueless while the US is being driven off a cliff.

      Personally, I love the guy. I love it when anybody speaks the truth these days and the louder the better.

      Kudos to Greg for bringing him on, them more often the better.

  18. Susan

    This is showing an error message now. Can you please see if this can be fixed?

    • Greg

      Sorry you are having trouble. I have checked the video and it seems fine to me.

  19. Jerry

    Charles Warner.
    I can’t speak for Greg, but if past history holds true, I would be getting your money out of Banks, 401Ks, and any thing else that is not under your direct control. If you wait to hear it on FOX it will be late. With electronic Banking systems, your money can be locked down in minutes.

    So if we’re all wrong, and we’re a bunch of nuts, what did you lose?

  20. Joe Gee

    Good day Greg:

    Their is no audio with this post with Jim Willie posted on 09/06/2013 Joe Gee.

    • Greg

      Sorry Joe. It played fine for me. Check the sound on the player. I have found a few turned all the way down.

  21. `David E

    Anne Elliot’s dream was more visual than mine last night. I just had a feeling of dread and dreamed of asking Greg to explain to me how the whole derivatives scheme will bring down the system? Like Murray Perry above asked, “I think the monetization is to pay the banks losses on their derivatives bets. My question is, if they are the losers, who are the winners? Where is the money ending up?”

    I would like to know so I can explain this to my friends. And it must be pretty bad as I had a bad dream because the last thing I watched before going to bed was Greg Hunter and Jim Willie @ USAWatchdog!

    • mohammad

      The markers are coming due, the money is ending up in Germany, the money is ending in euro!

  22. Oracle 911

    Great interview, your guest is giving to my words lot of credit. Question is, how long will this Charade continue?
    Well I think, until the conditions in USA will be unbearable for most of the states for average citizens.

    How much time it will take?
    Approx. 2-5 years, because if the BRICS dumps the dollar, they will hurt they economy. Yes I`m saying, they will accept the dollar, but they will exclude from their bilateral trade agreements. So they choose this scenario, letting drowning USA in inflation while the power of the establishment of US will evaporate.

    Because of this non-direct confrontation policy is implemented by the BRICS, the sudden collapse will have these effects:
    -it will arrive practically overnight after long time of suffering (the average Joe from main street will suffer, not the top 1%);
    -at least into two parts: -original report is from Russia Today (there was a similar article posted by me).

    Another interesting thing:

    Before anybody call it socialism, communism or any stupid quasi-scientific -ism, please consider this:
    According some studies if currently existing automatized technologies were implemented worldwide in 100%, then it will result 80% of unemployment i.e. 80% of working population would be jobless with 0 chance of getting employed.

    So implement this, depopulate the world or…
    Questions like “How will be it funded?” or “Who will follow the Swiss example?” are arising.

    What do you think Greg?

    • Greg

      Oracle 911,
      I am telling people you must not stay in some sort of state of readiness at all times. We all know it is going to blow up someday, and that day is getting more and more in focus.

  23. John M.

    Greg, thanks for bringing us another episode with our super-hero Dr. Willie, on the ongoing saga of America’s fight between good and evil, gold vrs. promises from politicians. This would all be so entertaining and exciting if the stakes weren’t so high — the end of America as a glorious idea of freedom and land of plenty. Really, America had probably been doomed long ago with the creation of the Fed and income tax in 1913, FDR’s New Deal, and then Nixon taking us completely off of what was a quasi-gold standard in 1971. But too many destructive activities have been going on since (especially since 2008) for us to be saved by some great man on a white horse. The Federal Reserve/big banking cartel and our glorious Emperor and those imperial senators in Washington have ensured that what is left of America’s sovereignty and freedoms will not exist for many more weeks, or months. America’s Titanic is sinking quickly as Willie confirms, although it did defy the laws of economics and physics for much longer than other empires and their paper monies ever did.
    We can all assume by now that the major apocalyptic moment (the start of devaluations, internet blackouts, bank holidays, etc.) will happen rather quickly when our beloved leaders decide the time is right. The same way they rig and manipulate our “free” markets and our political elections as well as everything else, making us feel like we really have a democratic say in all these matters. They themselves will know the exact time to head for their customized underground bunkers and save their own cowardly skins while the rest of humanity deals with the mass starvation and fall-out that surely follows. They will probably make some fat profits in the big event as well, as you must suspect that they have also accumulated and stole much gold and silver as they keep telling the public that gold is worse than a “barbaric relic”, that faith in gold is an un-American seditious activity. They will accuse sensible Americans who try and provide for their families with storing food and some real money as being the financial terrorists, as those hypocritical charlatans are the real ones that have purposively destroyed our money and the Constitution.
    I have a hunch that these arch-villains will plan America’s financial collapse to coincide with one or two catastrophic news events (false flags or otherwise), so that most people will never make the connection. Americans will place the blame for all their miseries where it does not belong. These ruthless people are capable of doing anything, as they have already detonated the twin towers of the US Treasury Bond and the US Dollar without blinking a eye, as Willie credibly claims.
    Russia and China will be the new power centers of the world, as they have cleverly accumulated a lot of gold in a very short period of time. America claims to still have a lot of gold in places like Fort Knox, but it’s unaudited, so it may only be used for storing historical artifacts and large quantities of exotic biological and chemical weapons. You know, the kind of weapons that Assad may be falsely accused of using on Syrian rebels. All that custodial gold kept for other countries is probably not there as well.
    As Gerald Celente and others have said, WAR is where politicians take a country after they have done every other maniacal action to destroy it. This can be argued as the real reason for almost every military conflict that has happened in history. I still think that what is happening right now in America is no mistake or accident, as our misfortune must have been carefully contrived for some greater concentration of economic and political power for the real masters of this world. The destruction of America may just be another egg to be cracked and scrambled in their grand scheme of absolute control.

  24. Chip

    Greg, great interview. Something’s afoot and it’s getting close…

  25. Chip

    Greg, more support for your interview…

    The chart below lay outs the amount of Bill, Note and Bond maturities between October 18 and November 15: it totals a whopping $441 billion.

    • Greg

      Stunning fact Chip. How can anyone not see this and know we are headed for a crash landing. “October 18 and November 15” isn’t even a whole month!!


      • Jason Emery

        ” “October 18 and November 15″ isn’t even a whole month!!”

        True. Almost a whole ‘QE’ by itself, lol. QE-5?

  26. Bob

    Where in this world do you find people like Jim Willie? This is why the adverb of “You can’t judge a book by it’s cover” holds true even today. I like Mr. Willie and I believe even those with a quarter functioning brain should pay close attention to this guy. Greg hunter gets Jim to spell out our nearing doom. Kind of like driving past a horrific car crash knowing blood and gutts are on the seats & dashboard. If that scene won’t give you a nightmare, this global crash just keeps on giving us the creeps. A “daymare” is knocking at our doors. —-OUCH!!!

  27. charlie

    I suggest that people see if the Jackass really understands the bond market and economic principles…

    Jim Willie Is Dead Wrong About a Bond Market Collapse in 2014. : The Tea Party Economist

    • JC Davis

      Charlie. Is this compared to the bank owned homes sitting empty to hide the real numbers of forclosures ? I dont think banks will hold back there fear , and greed.

  28. M.Smith

    Greg, Ireland voted Saturday to get rid of the senate to save money but failed! Why are the POTUS, the SCOTUS & Congress still being paid? They should be 1st ones who lose their pay & bennies for lack of job performance! The economic crisis is moving faster every day world wide & the rate the banksters, politicians, both state & local it’s a wonder riots have not happened in masses across the USA.

    Greg, nations are dumping the dollar just as many of your quests have said. Panama & the Euro is on stage now, who will be next? The new/2009 100 dollar bills hit the banks tomorrow, I was at my bank today & they knew nothing about it! Being a small bank makes a difference & also they took no bail out, those banks that did people should change banks ASAP!

    Nov 1 will be a test for man never tried before, where computers used to do the work now man will try to remove the spent fuel rods from unit 4 SFP at Fukushima, one screw up & who know what will happen! More at This a understatement for the entire world, they could hold the fate of the world in their hands! I would also tell folks to follow for updates that come in every few hours!

    Thanks again Greg, you have made a difference to so many!

    • Greg

      Thank you M Smith for the comment and support!!

  29. Suzen Caring

    I keep hearing about this global reset that we are on the brink of and that over a hundred countries stand to have their currencies marked to…what? A gold-backed something issued by who? Panama is mentioned as one currency linked now to the dollar. What of those that have their own currency, such as Costa Rica? Is it so infused with CIA drug money that it can’t extricate itself without hemorrhaging to death? I do see an effort to dance with China, so maybe it has a good hedge going. But for such a little country, I wonder. (P.S. I have interests in Costa Rica, that’s why I’m asking. There is so little financial news of any type, mainstream or alternative coming out of there. I find Panama’s, and other small Latin countries, attempts to back away from the dollar very interesting, to say the least.

  30. art barnes

    Greg, I have written many times that Quantitative Easing is all that is left in the tool bag for the FED because tapering will short cut to a depression in a heart beat. That leaves the only tool of QE with its inflationary slower march towards a great depression. In that vein, CNBC was discussing QE today and most of the consensus was no tapering through 2014. Not one of those economic paid stooge monkeys discussed the obvious reason for that as your guest said (paraphrasing); tapering will short cut the end of this malaise type propped up false economy. But the fact that all the elite know that QE must continue gives us all some time to prepare for the collapse, so in that regard maybe the FED is doing all a favor by accident because a reset will be hard to deal with.

  31. Liquid Motion

    Hi Greg,

    Again the good Dr. J. has delivered.

    What concerns me most is that if what the Dr is saying is true about the gigantic interest rate swaps/derivatives losses (I have no reason to suspect otherwise)and how the Fed is pumping $$$ probably double what they are saying, is that the BIG Banks through their losses have depleted their 2,3 6% capital. The BIS (central bank to the central bankers)would be alerted to this fact. Effectively what that means in laymans terms is that the Banks are technically BANKRUPT. That means that they are not permitted to carry on business – by LAW. I do have my suspicions about the most recent gathering of banksters and government officials and believe that this may, because of its sensitivity, be true. If so, we should all be very fearful of what will occur next.
    I gather from some of the comments here, that not all are appreciative of the severity of the Dr’s good tidings. The OTC derviatives (unregulated insurance bets – aka GAMBLING) are the fuse that ignites the bursting of the bubbles (stocks, bonds, real estate, insurance etc etc).
    An earlier comment I made that the Black Swan was going to be the dumping of USD/UST. Well guess what. I’m delighted but quite sad that the Dr J is on my side….bcos it brings credence to my beliefs.
    Here is another Black Swan… does an (EM) country hedge against the currency destruction/inflation it encounters because of the USD settlement in trade/ peg. It reverts to settlement in PM’s. When that happens ( and I believe it will this year or early next from an Asian country) then watch the flood gates open. This will precede Panama.

    What I see now occuring on the International stage, is for want of a better description, management of all economies, markets and currencies. Effectively the analogy is “Administration”. Circumstances are so dire, that the whole globe is effectively being managed and is not permitted to trade freely without covert intervention. Think that through and about the implications and conclussions one can draw from it. Its absolutely hopeless. There is no chance, NONE, of getting out of this mess without some sort of episode that rids the system of the debt and deceit, the BANKSTERS and the corrupt Governments and most of all Crony Capitalism.
    It stinks. Rotting (corporate public and private) carcasses everywhere.

  32. Galaxy 500

    Mohammad, you seem to like this theory. There is nothing scientific about Dr. Woods unless hoping is the same as reality but I did use the link and found it would make a good sci-fi movie. Energy and matter do not trade places except in nuclear reactions. Where did the energy go that was release when the molecular bonds were broken? I like science fiction myself. I suggest you read the “Helsing” manga series. It has Nazi vampires AND wicked Catholics.
    Greg Hunter has done some reporting on depleted Uranium based on facts. I fear than some are attempting to turn this site into a laughter inducing site instead of the Real News. If you want to believe that Nazis took down the WTC buildings with a death Ray instead of Islamic extremists, knock yourself out. Some Moslems put out that it was the evil Jews. I put forth that Tinker Bell, of Peter Pan fame, recently converted to Shintoism and decided that the WTC was a symbol of the Grand Clegal so she Pixie dusted it and it tried to fly to Never land therefore destroying it.

    I have heard some outlandish theories about 911. Just because I can’t explain what happened with 100% accuracy doesn’t mean I can’t rule out rubbish. The truth is some fanatic Moslem hit it with two planes. And I am willing to bet I can make a website that presents the dangers of Pixie dust as fact. Just because someone has a website doesn’t make it a fact. And I greatly fear that some are attempting to marginalize Greg by putting forth outlandish comic book fantasy as fact.
    I have seen you put forth some well though out theories with facts that nailed it down airtight. I can only conclude this is satire and I am not smart enough to get.

    • mohammad

      You can jump up and down as much as you want you will not change the fact there was no rebel!
      The buildings of 1 million five hundred thousand tons were poof!, DUSTED OUT!
      No conventional freaking jet fuel can do that.
      Think outside the box!!!!!!!!

      • Galaxy 500

        So it was Pixie dust…who knew? And as a southern boy, I am a rebel. Sorry, I am going to have to agree to disagree with you on this subject. And just because I am not a taker of the Nazi death Ray theory doesn’t make me closed minded.

        • mohammad

          Oh my goodness
          thanks for correction galaxy
          it is rubble ….. why i was using the word rebel all the time.
          i still disagree with you but thx for correcting me.

    • Henry

      In my opinion,Judy Wood is a laughable disinformation shill with zero credibility who spews utter nonsense in order to discredit others who question the government’s 911 conspiracy myth. Her space beams and “dustified steel” fantasies are rejected by all legitimate researchers.
      But simple physics and science proves beyond any and all doubt that the twin towers and WTC7 were brought down by controlled demolition. See David Chandler’s WTC7 free fall videos at Also watch Jon Cole’s “Eutectic steel” video at the same site. The government’s absurd 9-11 conspiracy myth is an impossible, intelligence insulting pack of lies and fantasies. 9-11 was the “New Pearl Harbor” desired by the PNAC extremists. Always ask, who had the means, motive and benefited. Bush said it was part of his trifecta, and Benjamin Netanyahu said it was good for Israel. Also, the man Bush picked to head his 9-11 Commission specialized not in terrorism or national security, but in the creation and maintenance of public myths.

      • mohammad

        I answered to your post up the page please read it.

  33. Michael

    Greg, I always enjoy your interviews, but in this one there is a little misinformation. I am a former Operation Manager in Walmart Distribution Centers. Freight goes not directly to stores but to Distribution Center Warehouses, then on to the stores. Dist Ctrs are 26+ acres under one roof and are strategically located throughout the world. Each center may serve up to 200 stores.
    What Walmart does do in many cases is not pay for inventory until a customer purchases and checks-out at a cash register. The vendor (e.g. Pampers/luvs) owns the inventory until checkout, which triggers the reorder from the vendor to the warehouse, and from the warehouses’ stock to the store. The stock in the warehouses is the buffer, though it is not yet paid for by Walmart, and the vendor is responsible for the inventory management.
    Walmart is expert at screwing all vendors, and has run thousands of vendors out of business just like Sears Roebuck used to do when they became the number 1 retailer.
    Walmart has also been cutting hours of hourly workers for decades, sending them home off the clock and forcing salaried managers to do the hourly jobs “for free”, then come in on their days off to do all their regular managerial work. No wonder they make such good numbers; they’re liars and cheats.
    I could tell you hundreds of ways Walmart cheats – and their books reflect the cheats – not the actual costs. That’s why I never trust “fundamental analysis” because every company I have worked with throughout my long career cheats, lies, and thinks they will never be held accountable.
    Ford motor company practices the same tactics (and more!) and cheats their vendors by rote, running thousands out of business over the decades.
    This nation is very very sick.
    Thanks for ALL YOU DO to serve the people with insights into reality! I’m a long term fan and I always learn something which helps me understand the situation in finer detail. I appreciate you Greg, and all you bring to the party!

    • Greg

      Thank you for the real world reporting and for adding your Walmart perspective!

    • Rebecca

      Wow, Michael.
      What an eye opener.
      Another good reason NOT to shop at Walmart.

  34. DAVE

    Hi Greg
    Found this article and did some DDand it checks out…look at the CBO link and WOW WHAT A SHOCK.I seen Abe raising Japans taxes by over 50% and now this ..Whoa

    Thanks Greg

  35. M. Smith

    Greg, my post/comment & links did not show up today. I may have hit a bad nerve, the truth is hard for those whom are in deep dodo when exposed!
    Don’t give up, I feel many are in danger now, but the danger is for life when you uphold the oath you took!

    • Greg

      M Smith,
      I don’t know why but I did not see it. Please post it again.

  36. SandraStark

    It’s on the other end of the spectrum from bond sales, but as a retiree tourist just returned from Central Asia, most local vendors wanted local currency now and not crisp dollar bills as on travels in previous years. As an aside, the bazaar in Kazakhstan featured new US military apparel and gear complete with commissary tags noted an alert-eyed retired military member of our group.

    • Greg

      Thank you Sandra Stark for your real world reporting!!

  37. brent


    I’ve enjoyed your site since having my eyes opened a few years ago. I’ve also enjoyed Jim’s article and interviews performed. I do have a serious concern that I think Jim should respond to and that would be Gary North’s article posted above by charlie. Gary certainly brings up several valid points about Jim’s points in regard to the bond market and his attack on flash trading. I have respect for both individuals and I believe it’s worth Jim’s time (although only he can make that decision) to respond.

    As a side matter, to M.Smith, certainly the risk of further disaster from Fukushima should not be underestimated or underappreciated but I work in the nuclear industry and I should let you know that the risk of disaster is most certainly in the minds of those executing the plan there and just like many other things in life it’s a balance of risk/reward. The risk of leaving the spent fuel in the damaged pools outweighs the risk of their collapse. Also, the cited expert in that article doesn’t seem like much of an expert to me. He discussed the possibility of a criticality accident from the fuel assemblies getting “too close together”. The very basic design of a spent fuel pool is the following: a. The assemblies when stored are arranged such that each is a minimum distance apart from each other and separated by a material with a high neutron absorption probability (normally a material with boron) b. Only 1 crane exists to lift the assemblies at a time. I would expect every “expert” to at least have an idea about the design of spent fuel pools…

    As a side comment, please keep up your important work of educating people. As Edmund Burke said, “The only thing necessary for the triumph [of evil] is for good men to do nothing.”

    Thank you for your hard work and keep up the good fight.


    • mohammad

      since you are in the nuclear industry, i would like to ask you about some speculations regarding the submarines the Germans had gold in it and the possibility of that gold being the containers of the nuclear material they were smuggling at the end of war to Argentina.

      Is there any substance to say that gold is a good container to nuclear material since it does not react with it and it is heavy enough to block its activity or that is a myth?

      Thank you.

      • brent

        I’ve never heard of the Germans moving nuclear material in gold. I’ve heard of the speculation that they did move large amounts of gold to Argentina and that many former Nazi officials ended up in Argentina.

        I suppose you could use gold as shielding for radioactive material but that doesn’t make much sense considering there are much cheaper materials to use like lead or steel. I can’t see a reason why they would hide nuclear material in the gold considering the whole point was to be secretive anyway. Not sure if I answered your question, as it seemed like it was out of left field.

        • mohammad

          you did, thank you.

        • mohammad

          ” Author and historian Joseph M. Scalia, stated that he discovered a formerly secret cable at Portsmouth Navy Yard, the uranium oxide had been stored in gold-lined cylinders; this document is discussed in Hitler’s Terror Weapons. “

          • mohammad

            It was to japan and that is different than the large amount of gold in question, however they used gold in those cylinders.
            thanks any way.

  38. Henry

    Thanks for another informative interview, Greg. Knowing that the 9-11 attack was a “false flag” operation carried out with the aid and knowledge of people within the U.S. government, and knowing how the corporate owned and censored media covers it up, I can easily believe that what we are told regarding the financial situation is also BS. The reality in which we live is quite different from the mythical world portrayed by the government and its media. Here’s an interesting article from another one of my favorite sites for news. It’s alarming. Here’s a quote:

    “Reports are that the Department of Homeland Security (DHS) is engaged in a massive, covert military buildup. An article in the Associated Press in February confirmed an open purchase order by DHS for 1.6 billion rounds of ammunition. According to an op-ed in Forbes, that’s enough to sustain an Iraq-sized war for over twenty years. DHS has also acquired heavily armored tanks, which have been seen roaming the streets. Evidently somebody in government is expecting some serious civil unrest. The question is, why?”

    • Galaxy 500

      DHS claimed it was for training but as someone who has sold to PD’s in another life and NONE, NOT ONE, used Hollow Points to qualify. They bought the cheapest FMJ they could for practice and then they would load their duty mags with the good stuff. The only theory that seems credible is two fold; 1) it keeps the public from stocking up (and being able to protect.themselves) 2) DHS thinks they are going to shoot people

  39. Jerry

    Sorry Greg.
    Since the big meeting is tomorrow, I had to post this one more time.
    I think your readers will find this interesting. I know I did. It follows along with much of what is said here.

  40. Darin

    I’m wondering if the Gary North is a misunderstanding.

    North’s point that the fed selling bonds increases rates is correct. Willie saying ‘leverage’ doesn’t answer it. Leverage doesn’t change the fundamental fact that sales of bonds increase rates. The only reconciliation i see is that Willie was & is referring to _commercial_ banks selling treasuries because they needed liquidity (or perhaps even to maintain reserve ratios if their tbills/tbonds were dropping fast enough AND they’re treated as market value for reserve purposes. I don’t know the answers there), and the fed banks were/are buying those up.

    Why does that seem reasonable?

    1. Fed buying more bonds implies lower rates.
    2. Fed banks don’t have leverage. They don’t borrow, they don’t need liquidiy. They can create it.
    3. Commercial banks selling because they need cash could potentially cause interest rates to spike, possibly contrary to their interests. Also contrary to the fed’s, if we assume its interests align with the treasury’s, so the fed banks might agree to buy them up. They may have done so on condition the commercial banks start a round robin flash trade on them, but this is unrelated to 1 & 2.

    This is believable and consistent with both North and Willie’s understanding as gleaned from other writings & interviews. Why the confusion? Willie’s original article, the one with which North took issue, states (this is what North quoted):

    “The subject of this emergency teleconference was USTreasury Yields. The perilously low capital of the Federal Reserve was at issue in this meeting, and the fact that they could no longer afford to defend the USDollar at this point. All of the regional Federal Reserve Banks were ordered to unload as many USTreasurys and Mortgage Backed Securities as they could, even though they are selling at a loss, to provide immediate liquidity even at the expense of capital! Eventually, late Friday night a tranche of Treasurys was sold above market price to several Federal Reserve Member banks in order to drive down the yield!”

    This makes no sense. The statements don’t logically follow from one another.

    First, which was at issue, treasury yields or low federal reserve bank capital? What is the meaning of the latter, when the fed can always create more balance sheet capital?

    Second, how could fed banks ever not afford to defend the dollar? Either they “defend it” by buying treasuries and ultimately debasing it, or they “defend it” by doing nothing, allowing its value to stabilize. In the first case, they create digits. In the second, they do nothing. Neither costs them anything, so they can always afford to do either. Only commercial banks can “no longer afford to defend the dollar” in the first sense, because they can run out of money or the value of the bonds on their books drops, but the latter only if they mark to market, which i don’t believe they do.

    Third, why would federal reserve banks be ordered to dump mbs & treasury bonds? They don’t need liquidity. They can create liquidity. Commercial banks, however, cannot. As i said, I suspect this is the linchpin of the misunderstanding.

    Fourth, “[e]ventually, late Friday night a tranche of Treasurys was sold above market price to several Federal Reserve Member banks in order to drive down the yield[,]” is not consistent with the rest of the paragraph. Are the federal reserve banks buying or selling? Above or below market? If they’re selling below market, why are they buying above friday night to drive down interest rates? Indeed, buying above market will drive down interest rates. But who was ordered to unload? If the same parties (fed banks, as stated in the original text) unloaded at losses in order to buy above market, they would have on net increased yields.

    As i said above, i think the only way to reconcile this is to change the paragraph above to “commercial banks were dumping because they needed liquidity… so fed banks were ordered to buy them up in order to keep rates from spiking. moreover, the selling became so heated that by friday the fed banks were buying above market.”


  41. Coalburner9

    I am not buying the 9/11 BS and I don’t trust DHS but I happen to know how incompetent a totally civilian US government agency really is.
    Jim Willie said something was going on behind the curtain which we would consider a normally exoected thing. Well lately, China has been making lots of noise worried about their investment in our Treasurys. Fussing and admonishing our clowns to not destroy the faith in our credit worthiness. Maybe we are threatening to crash them now unless they stop selling and using them in a flood to buy up resources around the world?????

  42. Jerry

    I listened to the Obama news conference today.
    BLA..BLA…BLA…BLA! Yes he has a PHD. Piled higher and deeper.
    And then I ran across this. Remember Karen Hudes?

  43. Donna

    This is what I believe about 9/11…The Black Eagle Trust Fund….from the COTO REPORT.

    Collateral Damage: U.S. Covert Operations and the Terrorist Attacks on September 11, 2001

    The September 11th attacks were likely meant as a cover-up for financial crimes being investigated by the Office of Naval Intelligence (ONI), whose offices in the Pentagon were destroyed on September 11th. [1] The attacks … were intended to cover-up the clearing of $240 billion dollars in securities covertly created in September 1991 to fund a covert economic war against the Soviet Union, during which ‘unknown’ western investors bought up much of the Soviet industry, with a focus on oil and gas.

    The 9/11 attacks also served to derail multiple Federal investigations of crimes associated with the 1991 covert operation. Hundreds of billions of dollars of government securities had to be destroyed. A critical mass of brokers from the major government security brokerages in the Twin Towers had to be eliminated to create chaos in the government securities market. A situation needed to be created wherein $240 billion dollars of covert securities could be electronically “cleared” without anyone asking questions – which happened when the Federal Reserve declared an emergency and invoked its “emergency powers” that very afternoon. [4]

    There were three major securities brokers in the World Trade Center: Cantor Fitzgerald, Eurobrokers and Garbon Inter Capital. Cantor Fitzgerald was the largest securities dealer in the US [7] and arguably the primary target. [8] 41% of the fatalities in the Twin Towers came from Cantor Fitzgerald and Eurobrokers. [13] 31% of the 125 fatalities in the Pentagon were from the Naval Command Center that housed the Office of Naval Intelligence. 39 of 40 Office of Naval Intelligence employees died. The Naval Command Center had been moved into that newly opened section of the Pentagon only a month earlier. [21] And in the vaults beneath the World Trade Center Towers, any certificates for bonds were destroyed. [14]

    On that fateful day, the Securities and Exchange Commission declared a national emergency, and for the first time in U.S. history, invoked its emergency powers under Securities Exchange Act Section 12(k) easing regulatory restrictions for clearing and settling security trades for the next 15 days. These changes would allow an estimated $240 billion in covert government securities to be cleared upon maturity without the standard regulatory controls around identification of ownership. [19

    • mohammad

      240 billion is a small amount compared to the black budget which is in reality the OTC derivatives itself.
      no doubt there are so many aspects to this tragedy, and what you mentioned raises eyebrows.
      We will never know what happened since we are not in the inside circle.
      and if connecting too many dots on the board comes up with Picasso painting, well it is easy to conclude that those dots are not there by random and they are related. (the picture the dots revealing is frightening and ugly, unlike Picasso painting, well…. on second thought some of his can be ugly and frightening too)

  44. Michael

    Jerry and Greg;
    You mentioned a couple of reasons the banks are short of cash, which I agree with. However there is one more reason which I think is significant, and often overlooked.
    Because of the fractional reserve (10% now I think) lending policy of the Fed; banks actually create 10 times as much as Cash in demand deposits, through loans based on deposits, creating “electronic money” which does not even exist in real printed dollars. This 10 to 1 leverage of deposits in banks has a reverse leverage effect on the banks when people remove their cash and stuff it in their mattresses! For every dollar of real printed money taken from the bank and stuffed in the mattress, the banking system loses $10 from their balance sheets – causing them to suffer Reverse Leverage due to lack of trust and confidence in the Bankster System. The same applies when loans and credit cards are paid off – Reverse Leverage which causes a “cash-Crunch” on their balance sheets.
    AT a 10 to 1 leverage ration of fractional reserves, I don’t think most people realize that the cash they think they have in the bank is “shared” among several account statements, and if everyone withdrew all their cash from the bank there would be only enough real printed cash to give them 10% of what they think they have on deposit. This is really impacting banks available capital as more people are trying to avoid the “Cypress Syndrome”.
    Your thoughts please?

    • Greg

      10 to 1 cash is a very generous estimate. The FDIC for example has about $33 billion to insure nearly $11 billion in deposits. Thank you for your comments.

      • Michael

        I was speaking ONLY about fractional reserve policy, not insurance backing of deposits.
        In fractional reserve policy the bank holds in reserve only 10% of all monies you have on deposit in the bank. Put $1,000 into your checking account and they have to hold only $100, and they can lend out the other $900 of your checking account to someone else. Then when the $900 loan is deposited into any bank in the Fed system, they hold only 10% of that, or $90, lending out the balance at interest. Follow that lent money from the original $1,000 deposit and you will see they have lent at least 10 times the original deposit, or $10,000!
        But it works in reverse when deposits are withdrawn from the banking system. $1,000 removed and invested in Gold or Silver coins, for example, reduces the Fed Capital by $10,000!
        With people worldwide removing money completely from the banking system, the Fed’s Capital Resources (our money which they leverage 10 to 1) are collapsing at 10 times the rate of withdrawal.
        Again, this is ONLY through the fractional reserve lending policy of the privately owned Fed, nothing else. It is become a SIGNIFICANT LIMITATION on the Fed’s ability to do anything, including paying off redeemed treasies. As Gold and Silver purchases rise, the Fed could be totally crippled in a matter of days or weeks, in which case we would probably have a bank holiday to halt withdrawals from the for-profit private banking mob cartel.
        Do you see my point Greg? Just fractional reserve lending leverage – but in reverse.


        • Greg

          Yes, I know. My FDIC reference was a further anecdotal example of how shaky the banking system is. Your points are valid. It is leveraged, and I think much higher than 10 to 1 considering derivative exposure.

          • Michael

            Yes Greg you’re absolutely correct. My point about the cash deposits/withdrawals is about the principle only (the ground floor only) but your point is about the next 101 stories of the Empire State Building built ON TOP of the Principle cash money, which are the derivative markets.
            Likewise, when the Principle or “ground floor” gets “nudged” by excess withdrawals of Principle from the banking system, there is NOTHING to support all the derivatives built on top of that Capital, so you can have an immediate cascading of everything in the economic system, derivatives and capital assets vaporize.
            No wonder they want people who pay cash or use alternate currency (like Bitcoin) to be seen as criminals, they are unwittingly hampering the freedom of the real bankster criminals to work their black-magic on the populace!

            Thanks Greg, yes, we’re saying the same thing.

          • mohammad

            The design was to collapse the system from the very conception moment of the federal reserve bank and that is the big difference between issuing the money by the state (debt free)and issuing the money by a private bank, all what you have said Michael can UNWIND if it was not for the INTEREST.
            Lets say that the treasury wants to borrow one thousand dollar from the feds, so they issue a debt (IOU). They give it to the feds to deal it in the market and sell it, in return the feds give the money to the the treasury to circulate it, that 1000 is asked back WITH INTEREST and lets say for sake of argument it is 1% to the tune of 10 dollars on that 1000.
            Where the treasury is going to get that 10 dollar from?
            They do not have that 10 dollar in circulation, they simply do not exist.
            They have to borrow that 10 dollars from the feds.
            The feds give those ten dollars to the treasury after the latter issues IOU, that 10 dollars comes with interest , here it is again 1% to the tune of 10 cents.
            Here again where the treasury is going to get those 10 cents? ….. they do not exist, they have to borrow it…… so on.
            So it is obvious that the moment the federal reserve was established that meant THE DEBT WILL GET BIGGER, THE DEBT WILL NEVER BE PAID.
            So president Wilson signed our behind to the banksters on that Christmas eve.

  45. Michael

    One more point too:
    Every dollar that is removed from the banking system and put into physical gold or silver also reduces the money available to the bank by the same reverse leverage ratio of 10 to 1 ration. So as I remove another $25 to buy another Silver Eagle which I give to my grandbaby, the bank has $250 less to “cheat” with; cramping their options even more.
    I believe this is why the attacks on Bitcoin; it too is an “alternative currency” which the Fed loathes because it reverse leverages their demand deposits. If they had their way, the Fed would eliminate ALL alternative currencies (even printed money) and insist on ONLY electronic transactions, which would give them the ultimate leverage on all transactions.
    Your thoughts?

    • mohammad

      One day the whole world will wake up to the fact that the nazi Germany is getting now what they did not in WWII.
      Bitcoin is nothing less than a financial warfare designed by the nazi Germany on the rise now,
      Here is the link from Zero hedge:

      “The story of the German Finance Ministry stating Bitcoin is essentially “legal tender” has been making the rounds all over the virtual currency and technology world this morning and for good reason. “

  46. Just Justin

    Greg, you went on quite a rant to discredit Gary North. I’m a big admirer of Jim Willie, but I know Mr. North is an intelligent man too. It seems both are acting a little childish. However, please be carefeul before you go “all out” in criticizing someone for statements they have made. I admire you too, but I thought you were way out in the deep end and misinformed when you suggested (backing up the views of one of your guests) that the Vatican is the controlling and oppressing force in the world today. Talk about a bunch of bunk!

    • Greg

      Just Justin,
      First of all, Gary North’s assertion that “flash trading” is some sort of legitimate price discovery mechanism is up for debate. I personally find that view preposterous in lieu of the fact that ‘flash trading” or “algorithmic trading” involves thousands trades a second. That’s not legitimate price discovery in my book. That is market manipulation and there are plenty of professional traders who would agree with that. Second, your assertion that I backed one of my guests is simply wrong. I had a 20 year employee of the World Bank on and that was her view. You are welcome to say it is “a bunch of bunk!” Thank you for your comment.

  47. justin

    What about poor country like my country Papua NewGuinea.?
    It will be an extreme disaster for us,particularly,economic boom. It is our time bomb..

  48. Mike M

    Side question. Why doesn’t Jim Willie show his face during the interview as all the others do? Seems a bit strange to look at the still photo of when he is speaking.

  49. Greg

    Mike M,
    Dr. Willie is in central America and the internet connection is not fast enough to support video. I take him the way I get him because the analysis and information is top notch.

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