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Wednesday, October 31, 2012

Jim Willie: ''Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz''

the latest from Jim Willie...............From Silver Doctors

''This is a global monetary war as last hurrah for the longest running fiat paper currency regime in modern history, which has run from 1971. The current dying regime has been held up by pressure to maintain USDollar support and not diversify away from it. It has been held up by amplified usage of derivative support in the form of Interest Rate Swap contracts, thereby keeping USTBond yields ultra-low in the face of chronic $1.3 trillion USGovt deficits, and creating an illusion of a flight to safe haven. It has been held up diverse comical USFed support in the form of a cornucopia of liquidity programs, to supply the big US banks with never ending bond redemption and carry trade aid. The current dying USDollar regime has culminated in an admitted permanent monetary policy identified by a toxic 0% official rate and the emerging reality of limitless bond monetization. It has been held up profound distortion of economic statistics, which have become almost laughable in the abuse.''

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