Jim Willie: There is a Race On for a Gold-Backed Currency Before the Economy Implodes [Transcript]

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Jim Willie, in an interview with Perpetual Assets on 7-25-15 states, “Everything is messed up. Treasury bonds, our relationship with China, Greece and gold.”

Interviewer: From our standpoint , being dealers, from viewing the action in silver, the last 2 weeks have just been unbelievable. The Mint has announced suspension of sales, and we’ve seen premiums increase. 

It seems very different this time than previous times, in that it is very, very tight. We’ve had one of the largest dealers in the country are not even taking orders for silver, because they are more than 30 days behind. 

Other massive wholesalers’ phone systems are down. Orders are backed up 2-3 weeks on orders that even is in stock. What have you been seeing? 

Willie: First of all, its not a gold market, it’s an arena with gladiators and lions in it.

 

There’s no equilibrium towards suppy and demand. You can buy, which is hard to do, and to sell, you are not given a proper price. The alternative markets require you to pay a premium, or a finder’s fee, to find a product where you can actually receive delivery, the premium is between 25 – 50%. 
 

The Gold Mining Industry is Being Wrecked

I see a market being ruined. This is the end of days. I enjoy what’s going on now. I want to see a sub-$1,000 gold price, which I think is inevitable. All you hear is that we’ve got a recovery and we’re doing fine and gold earns no yield.  

Notice that the gold mining industry is grinding to a halt. The marginal projects are going off-line. There was a story from a guy in Canada and he said, “He said he had a story about what’s going on in Yellowknife, which is a remote area. For environmental rules they were shutting down and capping the mines in Yellowknife, which were putting out ample gold.

They are actually spending billions of dollars to cap several mines, scrap the equipment, and salvage what they could. To restart these mines would be 2 years”. So they are wrecking the gold mining industry. 

I welcome the decline in the gold price from the Comex arena. What they are doing is offering whatever is left at a bargain basement price to the smart people who are willing to buy.  

These are extreme shortages for sure, which I like. I want the mining industry for gold to say they are not going to sell any of their output to the market, but sell it to the Chinese at 20-30%  premium. FU- Wall Street and Washington! 

The Voice said when they robbed Fort Knox of gold reserves, and when they drained Libya’s gold reserves. The elite have……. ……….read the rest of the story at GramsGold.com

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The article above was written on the following 2-part interview: