Jim Willie: Western Financial Markets Have Become Third World

Tuesday, March 3, 2015
By Paul Martin

GramsGold.com
3/3/2015

In an interview with Elijah Johnson and Willie on 3-2-15, Willie states, “There are no markets anymore. QE is killing the economy.

The Fed is not going to raise interest rates and eliminate profits for the big banks. The Western financial market systems are a joke.

The stock market, currency markets and bond markets are a joke! The Western financial market systems are a joke.
That’s why we’re going to go to the gold standard.
It is the solution.

Johnson: The industrial developed world, through their central banks, are currently monetizing over 100% of their global sovereign debt. This is the first time this has ever happened. Can you comment on that?

You have debt from 2 or 5 years ago is maturing and has to be rolled over. You either find new investors or you “monetize” it. Monetize means “print money, then buy the bond.” Which is what Third World Nations do!

The entire industrialized nations have become Third World. The US, Japan, Europe and Britain are the 4 nations that actually had debt which was all covered by printed money.

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