Economy Will Implode-Jim Willie

goldenjackassBy Greg Hunter’s 

Dr. Jim Willie of says powerful forces around the globe are working to do away with trading in U.S. dollars because of massive money printing by the Fed.  Dr. Willie says, “The world makes a reaction, and what they have done is create, slowly but surely, a U.S. dollar alternative for trade.”  Dr. Willie’s sources say precious metals will be used to back a new currency and predicts, “The gold price will be $7,500 to $8,000, and silver will be between $150 and $250 per ounce.”   This will be a disaster for U.S. Treasuries, and Jim Willie says, “All these Treasury Bonds will be sent back to the United States where they can choke U.S. bankers . . . they cannot refuse them.”  Dr. Willie predicts “the economy will implode,” and he says, “I don’t believe we’re going to see garden variety powerful inflation.  I believe, instead, we’re going to get large widespread cut-off of supply chains” as foreigners simply stop accepting the dollar.  As far as dollar assets inside the U.S., expect widespread confiscation.  Dr. Willie contends, “When the losses from the debt write-downs come, I see tremendous national wealth lost because private accounts are really just bank assets.”  Join Greg Hunter as he goes One-on-One with Jim Willie, Editor of the Hat Trick Letter.

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  1. M.Smith

    I agree with Jim Sinclaire, those who use social networks will have a target on their back as any saver by the IRS, but their’s one thing the money changers forgot about is thy Lord!

  2. neo

    Wow, this is mindblowing stuff ! Stacking @ current price makes sense if this info is to be believed.

  3. Charles H.

    Hey Greg,

    Again, it must be said – you are producing some of the best, clearest, and important reporting on the planet. The puzzle comes together. Dr. Jim Willie puts the real face on America that it deserves; and shows how the rest of the world will leave her behind. Our thanks to Dr. Willie. Great job bringing it out.

    • Greg

      Thank you Charles H.

    • Reader

      The outside world is concluding that the people in charge of America are not looking out for the American peoples interests. They are looking out for a small country near the eastern coast of the Mediterranean or they are looking out for illegal immigrants or looking out for Gun-shy people and, strangely enough, looking out for the Sodomite Agenda. And, to clarify the point further, when this black man says American peoples, he means the traditional meaning – the WASP middle class.

  4. Angee

    super cool dude. he summed it all up better then anyone else on the net. kudos to you Greg:) for getting him on:)

  5. ZORRO - London

    Jims analysis as always using the necessary widest of lenses.

    What the “old empire” does not have is time on its side. The new Eastern Empire, does. What the OA is using is a military, stretched to capacity, trying to cut off other markets from the NE. Not a popular move by those populations who have had their nations destabilised and on the whole destroyed. Remember the old threat that was made to Pakistan some years ago of turning them back to the stone age if not complying with US foreign policy objectives. The proof of this is clear to be seen in Lybia, Iraq and now Syria. The problem for the OA is that its only just functioning on virtual currency based on rapidly diminishing confidence. Just needs one substantial trigger event and as Jim knows, that already large list, is growing every day till pandoras box is finally opened and revealed.

    As far as precious metals are concerned, only when the OEs rigged game ends and the East gains credible control of that market will true price discovery occur.

    The obvious wild card is war, in which each side may try to destabilise and drain the others fragile economic balance. The North Korean gambit could just possibly be one such play.

    From a simplistic point of view, my money is on the Easts command of massive natural resources, vast populations and the self defeating Romanesque apathetic decadence of the West, ill equipped to deal with massive social trauma.


    • Greg

      Good stuff Zorro

  6. jc davis

    Jim Willie is fired up. Good information. I agree with everything he has said except using his friend as a reference without giving he, s name. I do not believe the dollar will fall without shutting down the power grid E.M.P. bomb. Information is power, so lack of information is powerless.
    At 150.00 oz. my 1967 40%half I paid 4 bucks for will be worth 22.00. hu? I thought I paid too much at the time. Yet if I get 22.00 for it after inflation, I will still be able to buy what 4 bucks will buy today. I love this site, and all your doing. Thanks Greg.

    • Dwain

      I would not put it past western oligarchs to create a catastrophic event in order to justify martial law. (EMP, nuke, biologicals, etc.). It diverts blame for economic ruin and tyrants finally get to recognize dreams of exercising complete control from pre-planned hardened command and control resorts.

  7. greg bugiak

    wow very informative indeed…thanx again Mr. Willie for your fine sight…we would like to offer our services if anyone needs a safe haven for physical gold physical silver or a RMB account we can help you protect your assets here in beautiful Taiwan..

    • Jack

      You can’t be serious?We are the USSR.

  8. art barnes

    What the good Dr. didn’t discuss was that a war will be the game changer and divert attention from those who “don’t want the stinking dollars” and keep the dollar going for longer. Failure to take into account a regional or beyond war as a economic world game changer is a short sighted thesis on the future of the dollar and the American economy. Without a war I agree with the brilliant Doctor but I sure would like the Dr. to discuss what the event of a war would be in his future economic prophecy of the U.S dollar and its economy.

    • Greg

      Yes Art, All the pathways look to be taking us all a nasty ending.

  9. Jerry

    Great interview, Greg!

    I could listen to Jim Willie all day long. An absolute wealth of knowledge. What I don’t understand is how Jim believes that the US will not have high inflation or hyperinflation when all of the dollars (T Bonds) come back home in addition to all of the money printing going on. I agree that product supply will be an issue but cannot wrap my head around not having high inflation eventually too.

    Keep up the great work, Greg! I read your site everyday.

    • Greg

      Thank you Jerry for the comment and support.

    • Robert

      The reason is that Asian Countries, like China will be forced to buy USD to lower their currencies. Higher USD lower commodity prices….

  10. Catherine Goodwin

    I have heard Jim several times on Terd Ferguson’s show. He sounds very knowledgeable but this is a little hard to swallow. If there were a plan to fix gold at $7,000 and silver at $150, the planners would stop at nothing to keep that secret.

  11. josh

    i’m having a little trouble following part of jim willie’s analysis. he said that the russians and the chinese have set up a trading system to avoid the dollar on their oil contracts. the chinese will be paying with treasury bills instead of dollars. the russians will then redeem the bills for cash from the treasury. where’s the problem? the treasury will pay in dollars just like they would if the chinese held them and redeemed them. the only difference is the russians will hold the dollars instead of the chinese. why does that matter? both of these countries have a huge amount of assets denominated in dollars. if they dump dollars, they are devaluing their own assets. hence the famous connally quote, “our currency, your problem.”

    • Greg

      How are we going to sell trillions more into the future under this scenario? It’s our problem when it comes to payment time.

      • josh

        greg, granted it’s a problem. my point is that it isn’t a new problem. the connally quote is from the johnson administration. jim willie implies that the trade deal between russia and china is a game changer. it’s not. it’s another straw on the camel’s back (to mix metaphors). what we need to be on the lookout for is if the russians start to accept the yuan for oil. that would be the beginning of the end. anyhow, it’s looking like japan is going to implode and distract the media before any of this happens…

    • Troy


      Astute observation, but the under pinning reality is a move away from the dollar, and the inability of the US to sell it’s future debt. Thus two fold, a devaluation of the dollar and a coming bond crises for the US. The world will continue to use dollars as long as there is no other viable option on the table. Did not China and the Aussies work out a non US dollar deal between the two countries? The writing is on the wall. The Dragon is patient and the Bear is no fool. Please excuse me, I momentarily misinterpreted the situation. The dollar is king. Long live the king ;)!

      Money and currency are good to the extent that they help create abundance for ourselves and our communities. They are bad to the extent that they are used to promote warfare and slavery, and that they suck prosperity out of the system.

    • snoopy the economist

      The Chinese have already started buying real physical items (mines, etc) around the world using treasuries – it’s the way to get rid of them and they will eventually all come flushing back to the USSA to drown us.

  12. AndyB

    Greg: It is very difficult to argue with JW; his arguments are very well reasoned and seemingly without any agenda (i.e he is neither a commercial gold or silver seller nor is he a specific Obama/politician/government basher without cogent arguments). BTW, have you noticed that even the financial MSM idiots are openly wondering about why gold hasn’t spiked due to the potential of imminent nuclear war?

    • Greg

      Who knows what is happening behind the scenes.

  13. Hugh

    The Wal-Mart explanation is ridiculous. Wal-Mart’s problem with keeping the selves stocked is an internal management and shelf size problem rather than a Dollar problem. Any foreign supplier can instantly change their dollars for gold or their own currencies. “We don’t want your dollars,” is just nuts. They will gladly take the dollar until it no longer has value, and that time is not now.

    Where is the evidence for all of these wild claims? “My source tells me…” is just not good enough when advising people about their lives.

  14. Al

    My wife seems to sleep through the night [except for the thrashing and night screams] knowing our economy is now trashed. [with intent] We can’t afford gold or even some silver, but putting some extra food away for the coming lean days is a not bad idea. Insurance as a hedge against death by starvation is better for you than tree branches and grass shoots. I’ve watched people starve to death first hand. Very very painful way to die. This appears to be what America is headed for—Collapse of everything we all ever believed in————–Thanks Greg. Jim Willie is one of the “Good Guys” by telling the truth……..

  15. Chip

    Great informative interview Greg. Interesting thesis Jim Willie has indeed…

  16. Chip

    Everyone is seeing it, even with the bankster short selling manipulation of price. Don’t know if you saw this on ZH this morning…

    • Greg

      Thank you for this.

  17. John Smith

    7500 gold and 250 silver already agreed to by the “Briiiiicks.” Now that is some serious stuff.

  18. Troy

    Stocks are up! China and Russia love US Hegemony, everything is fine ;)!

  19. Henry

    Greg, do you have any more information on Jim’s claim that the Patriot act forbids storing gold coins in a safe deposit box? I’m having trouble verifying that.

    • Greg

      I don’t think he said forbid. He said the government can open your box. I do know in some cases they can. In this economy with massive mortgage fraud, LIBOR rate rigging, money laundering going unpunished (HSBC) silver and gold suppression allegations nothing would shock me.

  20. Robert

    Here is why Gold is going down a lot. China will be forced to invest in USD to push down the Yuan. Gold is denominated in USD

    Liu said Japan’s unprecedented easing programme, aimed at ending more than two decades of deflation, was “a monetary blackmail” targeted at other export-driven Asian countries such as China and that the central bank should sell more yuan and buy the US dollar to push down the yuan.

    • Greg

      I thought you were supposed to give me a verifiable name to comment. Is Robert Burke your real name? If so what is your experience?

  21. DAVE

    Hi Greg
    This maybe big trouble real soon..Funny thing is there hasn’t been much news on this .Seems like attempt to keep it from causing panic.IMO this is huge and should have been front page.your thoughts?

    Thanks Dave

  22. Rickey

    I don’t know what Jackass knows about gold “I hope alot” however his information about fracing is completly false. Halliburton is only one vendor among many in the fracing business. They in no way have a monoploy on fracing chemicals,which by the way is not secret,and most of which are under your kitchen sink. There is a depeltion in any oil or gas well and shale wells are no different. Look at the number of wells drilled in the Balken play and the amount of crude coming out it is truley and eye opener. Thanks for the great site and the professional way you present the information.

  23. Fraser

    Hi Greg
    I also have an “earned” PhD (mathematics), but at least I managed to avoid LSD in the 1970s! Of more interest is that the mainstream media is shifting positions, which may indicate a shift in official Government strategy, which (in the absence of revolution) is the only way reform will occur.

    Bloomberg reported today:
    “Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fuelling a push in more than a dozen states to recognize gold and silver coins as legal tender.
    Arizona is poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states”.

    These dozen states should be supported in their efforts.

    • Greg

      Thank you for the comment and the link!!

      • Fraser

        Sadly, following the usual path of imposing harsh sanctions (to economically cripple) followed by mititary attack (to kill and destroy), America is proposing new sanctions against Iran which can only be described as an “economic blockade”. Amongst the many hew conditions, Iran is now required to “transition to democracy”. I thought this was about nukes – which (by the way) Iran does not have but Israel does have.

        The ring leader is none other than Mark Dubowitz, who is executive director of the Foundation for Defense of Democracies (FDD) in Washington D.C.; which relentlessly pursues Iran and Syria, whilst condoning similar problems in Israel. Prominent American journalist Jim Lobe, writing in the Asia Times, referred to the FDD as a group “whose views largely mirror those of Israel’s ruling Likud Party” and said that the FDD’s board of advisors includes “prominent neo-cons and Iraq War boosters”. The American Conservative magazine published an article accusing it of being funded mainly by a small number of pro-Israel hawks, as well as being engaged in spin. And so America’s foreign policy continues, with a small, pro-Israeli group dominating the agenda…

        Unfortunately, war with Iran has been on America’s mind for (at least) the last six years and it appears that “any excuse will do”. Gwenyth Todd (just) stopped a “false flag” and US invasion in 2007, and in the same year US 4 star general Wesley Clark bought to our attention the fact that a small group within the Pentagon was planning to “invade 7 countries in 5 years”; naming Iraq (done), Libya (done), Syria (nearly done), Iran (next), Lebanon, Sudan and Somalia:

        I urge anyone with any understanding of the death, destruction and sheer misery that America is about to cause in yet another country to speak out now! Please have some empathy for our fellow brothers and sisters! Imagine if it was your family or friends being targeted! You simply cannot be a Christian if you condone this mass murder!

        Furthermore, I think that the small group of murderous bastards in the Pentagon who are running this agenda should be exposed and either tried for treason, or taken to the Hague and charged with “crimes against humanity”.

        Finally, America has almost no friends left and payback will be a bitch! So for your own safety, please write to your Congressman and try to stop this madness!

  24. Ed

    Question Greg:

    What will happen to private pensions, like Tiaa-Cref accounts or similar financial institutional accounts, will they also be declared bank or state assets and be confiscated by the government?

    • Greg

      In my humble opinion, if you do not have direct control over it, it is really not yours. I have no idea what will happen but look at what’s happened already. Here’s part of what I wrote another reader on this site: “(Money laundering–HSBC, Rate rigging–LIBOR, foreclosure fraud–”robo-signing” added on top of the enormous fraud.) Because no prosecutions were made and no real fixes offered, the problem has gotten worse–much worse. This is not from anonymous source but observable fact. Why else would the Fed do all this money printing along with 0% interest rates as far as the eye can see?” Nothing would surprise me at this point. You should have as much of your assets under you direct control as possible. That’s what the rich are doing.

  25. Robert

    Can you verify the amount of gold that Russia and China hold. If those figures are correct, the U.S. is in very big trouble. We are assuming that there are 8,100 tons in Fort Knox.

  26. Pdaddy

    But Zorro, what if “the East” is actually ‘in on it’? Russia too, perhaps? Just sayin’, if you dig around, the evidence is there. Nonetheless, excellent article and definitely great fodder for finding truth!

  27. Farley

    Another great interview Greg.
    Love the site and your excellent coverage of todays events.

    I was wondering if anyone has a link to the story
    about the 5/3 bank In Cinci allowing someones gold
    to be confiscated.

    Thanks again and keep up the good work Greg.

  28. PeaknikMicki

    I got very mixed feelings about Jim Willie.
    Whilst much of what he says rhymes with my own beliefs I don’t like his un backed quotations of an anonymous source who supposedly knows some inside stuff. That kinda puts him together with Fulford, Sorcha Faal, Leo Wanta bunch producing fascinating stories that never plays out in open as they report it. …OK Willie is bit more down to earth and realistic but a few years ago he stated that we would start seeing global mass arrests of bankers and corrupt politicians and when it didn’t happen there was no more update, just silence. Can’t help but feel JW is making up half the stuff.

    • Greg


      If he’s half right it is going to be a disaster. I think he’s more than half right. I too thought the bankers would be held accountable for enormous crime too. (Money laundering–HSBC, Rate rigging–LIBOR, foreclosure fraud–“robo-signing” added on top of the enormous fraud.) I was so wrong. Because no prosecutions were made and no real fixes offered, the problem has gotten worse–much worse. This is not from anonymous source but observable fact. Why else would the Fed do all this money printing along with 0% interest rates as far as the eye can see? Thank you for your comment and for keeping your criticism civil.

  29. Ross


    Have been following USAwatchdog since the beginning and it just keeps getting better. You seem to get the right guests at the right time and the Jim Willie clip is no exception. My only complaint is that the interview should have been longer.

    • Greg

      I thank you very much. I am always torn between shorter and longer lengths of interviews. This one was on the long side. I am happy you enjoyed it. Please check back tomorrow for former Assistant Treasury secretary Paul Craig Roberts. he will enlighten us all about the dollar and gold smack down that has been going on for a few years now.

  30. David

    This demand for precious metals payment else no supply chain isn’t extreme when you consider that the US had this system of trade settlement before 1972.
    Settlements within the US was all fiat USD, while outside trade was for gold convertible USD. After 1972 this became all fiat USD.
    Gold is the only payment form that can address the problem of extinguishing debt. The cut off of trade is the lever that will likely move this mountain.

  31. aubreyfarmer

    Thomas Jefferson was concise in his early warning to the American nation, “If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.” End The Fed

  32. cathy

    Jim’s interviews are getting super heated and more intense lately. Very good information.

    I only wish the interview had been extended to include more on opening a gold money account and “vaulting the account outside the U.S.”. This was briefly mentioned at the very end and left me hanging.

    It would be nice to know of a safe place to open such an account, and ALL the associated details. I’m wondering: is there such a thing as a Silver money account? How do you get access to it if it’s outside the country?

    Also, if I were to leave on a plane for, say, a South American destination, can I take silver/gold on the plane with me?

    Otherwise, what will happen to an American that, say, has a little stash of gold or silver and the whole system implodes….Will the gold/silver be of any use? Sounds to me like they will confiscate it…meaning it would be illegal to have it. So, maybe it would be wise to have some kind of account outside the U.S. system.

    I wish someone would write about this or do a video on it in lay-people’s terms.

  33. Angie

    The only way this could come about is to uphold our “consumer” nation status. Simply, become self-sufficient. This will take some time but we have the ingenuity, technology, resources to do it all within 10 years – that is if our government will allow us to.

    Of course issues such as retirees and an aging workforce will need to be addressed. Standard of living will be greatly reduced but we could survive – America that is. Bite the bullet and rebuild – is all we have left.

  34. Mark Guest

    Love your work. I am convinced that the US dollar is going to be under massive pressure but then America will have to start making everything itself, instead of importing everything and making China rich. Is that going to be such a bad outcome – low unemployment and an all bases covered economy with most American’s being active and productive. If you don’t have to compete against slaves then how can you lose?

  35. Mike Powell

    Keep buying and stacking folks. Because the moment when smart money finally make it’s move into commodities and precious metals/stones. It’ll be the greatest shift and perhaps, the single largest event in human history which is the decline or even collapse of USD.

  36. southern patriot

    Hi Greg and Happy New Year. Before finding your site, I was just concern with getting a paycheck and making it last till the next pay period. I had to take on several other jobs in order, to keep our head’s above water. Most of our friends continue to tread water, today. I always though,that, if we could pay our rent, electric,water,gas bills and then our car payment, we were ahead of the game. Then, when my wife got her pay check,we would buy groceries.After taking care of the medical needs for 2-sick children,if we were lucky, we might be able to go to a movie or out for a pizza once in a while. At that time we believed, we were living the American dream. We thought, we were free to make our own decision’s and as long as the government stayed out of our way or to one side of the road, we could work ourselves out of any problem or debt. We learned to work and put a couple of dollars away for a rainy day.That was pretty much our way of thinking. Listening to your readers and guests I can tell you beyond a shadow of the doubt,that there are more hands on my wallet and more voices making decision’s for me and my family, then just mine. Today, we are no longer in control of our destiny. World wide events and back rooms deals, by banker’s and politicians, are no longer putting America and her citizens first. Today, they put themselves and their own agenda and greed first. I’m aware that this has been going on for a long time,but I thought there was a time that we could elect politicians who believed in America and followed our Constitution and listened to “We The People”. Some how, I thought there was a way to outwit,out last,out maneuver their attempt’s to destroy what was once “The Land of Liberty. Thanks for having Dr. Jim Willie and others on your show. And thanks for the continued courses on economics. Southern Patriot

    • Greg Hunter

      Thank you Patriot for sharing your story here!

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