Just a quick bulletin to tell you that Jim Sinclair is telling one and all that the FOREX in Poland has gone completely into the tank. This could very well be the end of the line for Europe. Got preps? Here is Jim Sinclair's take on the situation.
Dear Friends,
To underscore my statement that "It has hit the fan," please review the following:
Forex failure continues in Poland Posted by Izabella Kaminska on Feb 16 21:43.
It�s getting bleaker by the minute in Eastern Europe. In case you didn't catch the latest from the Telegraph�s Ambrose Evans-Pritchard, he warned at the weekend how a growing crisis in Eastern Europe could cause nothing less than a total collapse in the West, or as he put it: �If one spark jumps across the euro zone line, we will have global systemic crisis within days.�
To make his point Evans-Pritchard quotes Morgan Stanley�s Stephen Jen on the fact that Eastern Europe has borrowed a total of $1,7oobn abroad. Furthermore about $400bn of that debt has to be rolled over this year - a number equivalent to about a third of the region�s GDP.
As we outlined a couple of weeks ago, the concern is now greatest not for the retail mortgage sector, which practiced the issuance of foreign-currency based mortgages on a grand scale, but for corporates � which it appears practiced the art of derivative forex exposure on an even grander scale.
And so it comes as no surprise on Monday that yet another corporate forex failure has occurred in Poland, this time at Polski koncern Miesny Duda, a Polish meatpacking business. The stock sank to a record low on the news. As Bloomberg reports:
An unwind is taking form right now, this minute, (9:10PM ET) that may or may not be
contained by international Central Bank action.
Even if central Europe does not financially implode the world money system today, it is just
around the corner.
There are so many risks threatening us now that survival of any monetary status quo is
doubtful.Protect yourself.It has hit the fan, right now, and all that is thanks to OTC derivative
manufacturers and distributors.
Respectfully yours,
Jim
It would also appear that the World Bank has sold 430 tons of gold to someone in Asia. Starting after dark on Monday night a private sale was arranged in U$ dollars at a stupendous premium for that amount of gold. I heard it was in the neighborhood of SIX or SEVEN thousand dollars an ounce for the honor of buying that much gold in one lump. All I was able to find out was that the money was raised in Asia, as far as anyone knows. Someone is preparing for a huge currency default and it ain't me! My preps are for food and medicine and security. I hope you are doing the same thing!
A word to the wise is sufficient.
Stay alive!
Michael
mboone@rtccom.net
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7 comments:
I've been looking and can't find ANYTHING on this. Where did you get this info? Thanks
Mrs. D
I got the news of Eastern Europe from Jim Sinclair's Mine Set. He got the story from http://ftalphaville.ft.com/blog/2009/02/16/52508/forex-failure-continues-in-poland/.
You can get an idea of where the money is going by reading http://www.property-report.com/property-news-opinion-analysis.php?id=194.
The stuff about the 430 tons of gold is private information gleaned from various sources. I usually tell the reaaders even if I can't give out the details.
Michael
Very interesting about the World Bank selling 430 tons of gold and at let's just say $6k an ounce. Does the World Bank even have this this kind of money? This whole transaction seems more insidious because there has to be someone or something behind all of this.
Math is definitely not my forte, so what I say in the following may be distorted by my sorely lacking impaired math brain.
If there are 2,000 pounds in a ton, and there are 16 ounces in a pound, and whoever paaid $6-7K an ounce,who has that kind of money? At a minimum, this is $82 trillion.
This is nearly 30 times our stimulus packages, part I and II.
If this transaction did occur, then it is a deliberate and overt attack on the US economy, and therefore an out right attack on the world's entire economic foundation.
PLUS it is an investment for the future when the dust settles from this world wide depression. Who ever now owns this gold has literally set himself or themselves up as emperors of the entire world. Any previous concept of NWO pales in comparison to this horrific shift in economic power.
I daresay that depression doesn't even do this event justice. Economic catastrophe and armageddon are more apt terms.
If this much gold was purchased, then the shit has already happened.
Those prices were just rumors. And there are just 12 ozs. to a pound of gold. Ain't the ozs. and pounds we are used to. The idea I was tryng to get across was that someone is taking a big position in gold and the only thing I can think of to justify it would be a coming devaluation of a huge size.
Michael
As a matter of further comment, I would like to point out that the World Bank is an American institution, I believe. Thus the funds in it are from the US fedgov. Since the boys at the World Bank are not gold miners it is a sure bet that OUR money was used to buy the gold. Thus the question could be phrased "Who did WE sell the gold to." All these bastads are going around doing things with money and gold that belongs to us, the citizens of this country, with no apparent oversight of their actions. Let's secede from the Union like some other folks are making noises about doing! I am getting tired of this shit.
Michael
Whether it is 12 or 16 oz. is kind of irrelevant when it comes to as large as this amount is. Actually, I think the World Bank is composed of a number of countries designed to help maybe third world countries or something. Always thought it was some sort of crooked outfit the UN came up with to spend our dollars.
I agree that if this transaction occurred, it is some of our money, if not all of our money. I think it is sort of like the UN, we do more than our share of the lifting.
At this point, I am not sure that it matters who could be the seller and could be the buyer.
We the taxpaying American have been sold down the river anyway. What's one more traitorous act.
Seceding is an option but I don't trust the governor of Georgia anymore than I do any other person in leadership, private or government. These people may start off trying to do right by the people but then they ALL become corrupted.
So who do you think could be behind all of this? I personally do not think it could be a single country or even a bunch of countries. I think there is a bunch of all-ready wealthy folks who would like the entire world economy to go belly up just for the sake of power.
It isn't obama, Merkel, Brown, Putin,or even the short dude in France - Sarkozy. This is way beyond those little talking puppet heads/tools.
All of these bleating sheep-leaders are all crying for nationalization of their respective banks. What all did the G7/G20 countries agree to anyway?
Damn, now I sound like a conspiracy nut.
combine that with this one:
http://tinyurl.com/bn5lvh
and the picture starts looking like tin foil time.
Looks to me like the nuts were right all along. heh heh heh.
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