Dr. Jim Willie: ” A Calamity Is Coming” – Will Be “Exponentially Larger Than Any Collapse In The Past”

Wednesday, October 22, 2014
By Paul Martin

By Susan Duclos
Allnewspipeline.com
October 22, 2014

Perpetual Assets posts a scathing rebuttal from Dr. Jim Willie to a “rant” by Jim Rickards in an interview published by Greg Hunter which will be shown at the bottom of this article, where Dr. Willie addresses a number of assertions by Rickard, showing that Rickards has a “gigantic blind spot” because Rickards is “blinded by his enormous ego.”

The assertions by Rickard that Dr. Willie is responding to as well as calling such notions “preposterous and delusional,” shown below:

RICKARDS ON HUNTER WATCHDOG SHOW SPOUTED ABOUT MANY TOPICS… HE DOES NOT EXPECT CHINA TO BE IN POSITION FOR YUAN TO ACT AS RESERVE CURRENCY… HE EXPECTS THE INTL MONETARY FUND TO BAIL OUT THE CENTRAL BANKS WITH OVER $4 TRILLION IN SDR BASKETS OFF THE PRINTING PRESS… RICKARDS DOES NOT FORESEE THE CHINESE LAYING THE GROUNDWORK FOR A RETURN TO THE GOLD STANDARD (WITH YUAN IN PRIMARY ROLE), AS HE ONLY SEES A USDOLLAR HEDGE

Dr. Will takes it point by point in a must read epic takedown, a small sample of is shown below:

Notice all the Too Big To Fail banks have even greater concentration of assets than in 2008. It is therefore easier to lock down the few big banks if the goal is to limit withdrawals and access. The non-directional volatility in stock market is evident, big up and down moves on successive days. Rickards is certain of no rate hike by the USFed, as he is more afraid of deflation taking fast root. (Total agreement on ZIRP Forever.) Notice how Buffet bought several hard assets and sits on record level of cash (20%). A calamity is coming as certainty, but when it hits, it will be exponentially larger than any collapse in past. A progression is crystal clear. The 1998 LTCM failure was big, the 2008 Wall Street failure bigger, maybe in 2016-2018 the USFed will be in trouble with other major central banks for the biggest calamity. (USFed has been in deep trouble, near catastrophic trouble since the start of QE bond purchases.) Each crash is bigger, and each bailout bigger than the previous. The central banks are set to fail, but some entity must be ready and have huge potential to bail out the central banks.

The Rest…HERE

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