Gov’t To Raid Retirement Accounts To Fund Shortfall Of Treasury Purchases: Jim Sinclair

ECONOMIC RETRIBUTIONS
In the USA they have a Clearing House for Inter bank Payments Systems known as (CHIPS), and in the last six months it has slowed to a minuscule of its normal operation. CHIPS is the main privately held clearing house for large-value transactions in the USA, settling well over $1 trillion a day in around 250,000 inter bank payments. CHIPS is used for the large-value domestic and international US dollar payments. Anyway, the cause this slow down is due to the large demand for immediate liquidity relief sought by the largest banks in the US, and EU. Chips is mainly being crushed by a Europe & USA debts now estimated to be around to $39 trillion. As of today it looks like a repeat of the 2008 Financial Crisis. The 2008 crisis was the result of high risk, complex financial products that failed to rein in Wall Streets’ out of control antics. (derivatives, futures etc.), and here we go again! I would also like to point out the ‘ The Baltic Dry Index’ (BDI) shows the shows the Europe and USA economies are in a free fall and these figures were last seen just before the crash of 2008. The BDI also tracks the worldwide international shipping prices of various dry bulk cargoes, and shipping has also slow dramatically that it leaves many of our world’s largest transport ships anchored. In fact there are enough anchored ships to surpass the entire fleet of British and American ships combined.

Please note the 2008 financial crisis was delayed because the Feds literally gave the US banks, a few corporations, and some major over sea banks (from France to Scotland) about 16 trillion dollars. This secrete was only discovered when amendments to the Dodd–Frank Wall Street Reform and Consumer Protection Act were made when an audit brought these figures to the publics attention.’ This was later passed by Congress. Please note this Federal audit (which discovered the 16 trillion) was their first in 100 years of Congressional history, and no audits on the Feds have been made since.

To put the $16.2 trillion into perspective the Gross Domestic Product (GDP) of the United States is now around $16.2 trillion. The entire national debt of the United States government spanning its 200 year history is 15 trillion. Curiously, the amendment to the Dodd-Frank law only called for a “one time audit”. Since no other audits have taken place it would not be hard to guess how many more secrets are hidden from the public. The Federal government does have the power to avert this coming catastrophe, but I say it is unlikely due to the cascading collapse of the global derivative market, the state of California deficit, and the engaging cost of our military.

Currently derivatives are again in the headlines thanks to our banking high flyers. Derivatives are not a bad thing because originally derivatives were designed to hedge risk, but the high flyers of wall street just mushroomed them into a mountain of speculation unlike anything the world has ever seen!! Current estimates of the imaginary value of all derivatives go from $600 trillion all the way up to $1.4 quadrillion. Who knows the actual figures. If didn’t know better i would say this was a planned event. In any case we are heading down a new path leading towards a World Currency and a World Banking System. it is now just a matter of time. The next question one should ask . “is there a rescue in in future?” Well, my guess would be for the Feds to confiscate the private 401 accounts and make it a part of the Social Security program. The “401’s” have a enough cash to make the government solvent in the blink of an eye by wiping out most of our debt and putting the USA back into the lime light of a world economic dynasty.