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 That's a very subtle point. They order the Fed to fund their own acquisitions. So, so far every acquisition by a big bank of a broken bank has been by JP Morgan using borrowed funds [clears throat] at their order. So, you've got a consolidation of power with the banks. And here's the rub. JP Morgan is insolvent. So why are they acquiring other banks? And by the way, the banks are acquiring are also insolvent. Okay, this is the nature of a US bank system right now. It doesn't >> acquiring them

>> with Fed funds lending >> borrow money and uh I'm sure they've got I'm sure they got some assets. The problem is they've got far more liabilities. Okay, if you look at the JP Morgan books, they will probably show that they're solvent, but they lie on their books. They don't mark to the market. They mark to maturity and they mark to fantasy. It was a practice that was perfected following layman that crisis and now they're permitted to falsify their books for reasons of

national security. We've now legalized falsification accounting fraud. Okay? So, they're borrowing money from the Fed. They're acquiring banks. I'm talking about JP Morgan and the plan is to create a super bank. It's not to create a super bank to bring about a flourishing US economy. plan is to create >> it's about control to to control the access to your funds to control lending to control confiscations to control bailins and to control migration into the central bank digital

currency which I think they might attempt to do with a 20% they call it a fee but I call it a confiscation okay they're trying to reload you know I mean just Imagine there's 20 trillion in US banks with depositors. If they take 20% then suddenly they've got $4 trillion in cash to manage their lives, their disgusting personal habits, their practices, their hobbies like boats and uh you know buying islands um their jets. Okay, they're not they're not producing they're not encouraging US

economy growth. And this is the sad fact of life. Okay, Eric Weiss is a highly respected bank analyst and he offers um a newsletter and I've gotten just a you know I only got a whiff of of what it was all about. I only was able to get the first, you know, several paragraphs, but the point is clear. 1,200 US banks are in danger of going bankrupt. 1,200 US banks. >> That's a lot. >> In danger of going bankrupt. Now, let me describe. I I do this as a little tutorial and not and meant not intended

to be insulting to anybody, but an insolvent bank is one that has more debts and liabilities than they have assets. So, their book is negative in value, but they lie on the assets they hold. And therefore they claim that they're they're solvent, but really they're not solvent. And because they're not solvent, they're not very willing to lend. So they're not economic lending engines. They're little casino factories and they're loaded to the gills with leveraged debt.

And as Eric Weiss points out, all the large banks and all the large regional banks are bankrupt. And in addition to that, another 1100 banks are in big, big trouble with negative book. Now, if they're insolvent and suddenly lose their liquidity, they have to declare bankruptcy and shut down. Why is that? Well, if they lose their liquidity, they can't operate. They can't manage their payroll. They can't manage their obligations. They can't manage their their really their portfolio where they've got obligations

also because they they've got loans and they're managing their loans. So, they got lenders to their own company. So, they can't manage the cash flow and they have to shut down. It it think of it as a car engine that no longer has any oil. it the engine seizes up. So, they've they've got a broken car that doesn't run well and leaks a lot of oil and leaks radiator fluid, so it overheats. But they borrow money at the middle of the night from the Fed to keep going. It's like adding a quart of oil

[clears throat] every five miles. That's >> But that only worked for so long. Yeah, it only works for so long, Brock. And they make it worse on themselves by raising interest rates. Okay, I'm trying to make this simple. It's not simple, but by raising interest rates, they do damage to their own big bank book of loans and portfolios. Their own portfolios lose value on their bonds. And wherever they got leverage, which means borrowing money to to buy their bonds, which increases, you know,

the profitability and and the uh the executive bonuses, when they raise interest rates, their portfolio loses more value and they go more negative in solvent. >> So, you've got to ask the question, and I I try to make this simple as I can. I I get a lot of compliments for for teaching complex concepts. Well, >> when they raise interest rates, go ahead. What? >> No, I agree. >> Yeah, I agree. You do take very complex things and break them down, which eventually during this interview, I'd

like to ask you to do that with derivatives for folks, but go ahead with >> Okay. All right. Fine. That That's a tough one, Brock. That's a really tough one. [snorts] when they raise interest rates, why are they doing that if they harm their own portfolios? >> Why are they raising? It seems like they're shooting themselves in the foot, but I'm sure they have an evil motive. >> They have a very clear motive and they don't ever talk about it. They're trying

to prevent a US Treasury bond default. >> That would be really bad, wouldn't it? >> Yeah. Imagine a new auction. Every month we're auctioning 120 or $150 billion in bonds. We're auctioning it. These are new bonds because that's the deficit. >> 120. This called 120 billion a month. Now, if they can't successfully auction it, then we default. and they're putting pressure on the primary bond dealers by putting them under contract. They're well holding them under contract.

These 15 to 20 banks are in trouble because they have to buy all the bonds that are not sold at auction. So, they're putting even more banks at risk. >> Wow. >> And they cannot afford an auction failure with publicity because that would cause an instant Treasury bond default. And that would shut down the market and have all kinds of consequences. So they don't do that. But Brock, we just print money to cover our Treasury bond issuance. Okay. We are Vimar. We are Zimbabwe. That's where we've gone to.

>> We are we in a hyperinflationary period right now? >> Yes. But don't focus on prices. Focus on money. >> Okay. >> Okay. The original definition of of inflation was monetary growth beyond above and beyond above and beyond. We we used never to increase the money supply more than the economic growth. Now, we've tripled the money supply in the last 15 years, while we've had a 25% decline in the economy. Let me repeat that. In the last 15 years, we've tripled the money supply while our

economy has shrunk by 25%. Let that sink in. That is monetary inflation. That is that is Ponzi. and we're in VHimar America. Okay, this is this is not fixable. Okay, back to the original point. We're raising rates to prevent a big crisis with the treasuries that could produce >> Oh, I just lost you. You still hear me? Okay. Um, >> yeah. We're trying to prevent a Treasury bond default or a crisis that could result in a default so that we can continue the government. Well, why do we

want to continue the government? Because the criminality must continue because the military contracts must continue. I am going to harp on military contracts because as Jack Ma of Alibaba, the only executive or analyst who talks this way, he commented about four years ago, three years ago, that the United States had blown $20 trillion in the last 25 years on military budget and we've gained nothing. We've gained nothing for economic growth. In fact, we've seen deterioration in our infrastructure, our highways, our

bridges, our tunnels, our port facility. Okay, we're trying we're raising interest rates to prevent a financial crisis at the Treasury bond market area arena. Okay. So, the powers that be believe that we must go further insolvent with our banking system in order to avoid a shutdown of the Treasury bond market. And the only way to keep that going is to print money to cover our debt. It's called [clears throat] monetizing the debt. Now when we monetized at that in the past [clears throat] like 20 years ago,

18 years ago, 15 years ago, we did so with a method called sterilization. We would print money to cover the deficit, but we would drain an equal amount of money from the banking system. >> Okay? >> But we don't we don't do that anymore. Now we do unsterilized. We just print money and cover the deficit. We monetize the debt. Okay. The banking system has a plan and it's from Janet Yellen and it's not impressive and it's not a remedy. The plan is to create more acquisitions,

encourage more acquisitions of banks to consolidate the power to bring it as much as possible under JP Morgan. I I reason the following way, Brock. If the first five acquisitions are all from JP Morgan, then it looks pretty clear that they want the great majority to be by JP Morgan >> because they play they're playing ball with what the globalist agenda is. >> And well, it's it's deeper than that. They are the globalists. They're not playing ball with them. They are the globalists.

>> Okay. and and they've got an agenda and it's not for economic development. It's not for returning the banking system to solveny. It's to consolidate banking power. >> Okay? >> And that's and that's why they hate me so much because I say that since when is JP Morgan about business creation? I have about five clients and friends and colleagues, the whole group, about five of them said they had a big problem with JP Morgan. It's actually Chase, their

Chase business account. They had a problem with their Chase business account. Money was frozen. Questions were asked. They were all frivolous. Money was made unavailable. All the probes were frivolous. They said it would be 5 days and it turned out to be five weeks. Okay. JP Morgan is not about economic growth. So why are they permitted to do the acquisitions? Okay, look at look at the details. Silicon Valley Bank, Signature Bank, uh, First E, First Heritage, >> National Oh, I'm sorry.

>> First First Heritage was another and now on the ropes is um, >> oh gosh, First Heritage. I forgot the name. refer something. But there are a group of banks that are all with the name of Bank Corp. Um Pack West Bank, uh Bankorp West, and a couple of other Bank Corps. They're all in trouble. They're all on the edge of bankruptcy. Um there's a there's a new facility. This is a Fed creation and they don't intend it to be for what I'm going to say, but it's to keep these banks from going

under. Uh, let's just call it a bank term facility. I don't remember the exact name. I saw it again this morning and I it it has the name term in it. Has the name bank in it. Has the name facility in it. Um, so the bank term facility is to lend emergency money to a big bank that's in big trouble because they don't want them to go bankrupt. Remember bankruptcy means they lost their liquidity. They're all insolvent. They lose their liquidity, they go under. So that now this bank term

facility is their uh their outlet, their their safety valves. They can draw on it. But here's the the funny access to money, you know, like like just for belongings, you know, razor blades, soap, detergent, clothing, shoes. They're going to need a budget in their prison. And let's convert the smart cities into deep state prison colonies. >> Good idea. >> Okay. Well, thank you very much. Um I I like some of my ideas. Um, my guess is that in a year or two we might see that

become a reality. Uh, Trump is talking about new cities. What's a term? He He doesn't use the word smart cities. He doesn't use the word 24-hour cities. I think he calls them new cities. Something like that. But he wants them to be manufacturing centers. He wants them to be colonies for reindustrializing the United States. Yeah. >> And I think it's a great idea, but he's got to get rid of the traitors, the deep states, and all the corruption in order to do that. And I would love to see the

narcotics be made a target for criminal prosecution and law enforcement. BUT, YOU KNOW, BEFORE THAT, we really need to defund the FBI. That's a really good start for fixing our legal system and our law enforcement. Get rid of by fire. By mean that I mean firing. um 200 judges, maybe 500 judges, charge many with treason, sack their private bank accounts, defund the FBI, bring that under heel, and uh let's start a new What does the FBI do that's constructive? Okay. I've got a couple of clients who say, "Jim, I

>> I've got a couple, Brock, who say the FBI at the ground level, they do a lot of good things. I think the problem is when you get above a certain level, like three ranks up, you know, they can use certain GS levels to eliminate jobs and and anybody who's honest uh above a certain level, maybe he or she can reapply for a job after a serious examination of the the of their their their record, their performance record and their bank accounts. Um, but we need to eliminate the top. Cut the head off the snake and

that's the FBI. Okay. There's more sabotage and and this is from various I don't really know what to call them. You can call it the ESG, environmental, social, and what is it? Government for G. But the the social policies um San Francisco is turning into a disaster. Um, they just had their Hilton Hotel. The owner of the Hilton Hotel just handed over the mortgage and the keys. Um, he renounced the mortgage. >> Wow. because of of the the lack of occupancy and the lack of cash flow

and it's a ruined hotel and it's a microcosm for the macro situation in San Francisco. San Francisco is destroyed. They're destroyed partly by their legality of needles >> y >> injection narcotics in public needle park. >> They're they're made they're rendered of a poor economy by legalized shoplifting under a thousand dollars. Um they've got drugs in the streets. They've got naked men walking hand in hand down the street. and and any mother or father walking

with a kid, they've got to see this. So, as a result, San Francisco, I am told, I don't know the names of the businesses, but I'm told three office buildings, and I'm sure they got many, many, but three office buildings are empty now. They're vacated. Now, this the the deep state and the globalists would like to say, well, you got far more people working at home. No, no, I'm sorry. No, I'm sorry. The the working at home had has been reversed as a trend and and that effect now that the

reversal has taken place, that effect is in my estimations something like a 15 or 20% hit. But there are three office buildings that are empty and that's not from working at home. it it's from people deciding they don't want to live in or near San Francisco and work at a certain job anymore >> and move >> and there been a and there have been a lot of firings um for Silicon Valley companies and a healthy swath of them were dependent on Silicon Valley Bank and a couple of other banks that went under.

So there's a crisis in Silicon Valley and there's a huge crisis in San Francisco. And you know, you could twist it the other way and say, well, who's the beneficiary of all this? It could open the door for Chinese colonization. What's going to happen to abandoned homes? What's going to happen to unrened apartments? What's going to happen to homes that can't sell after a foreclosure? Well, the Chinese can come in and take bargain take advantage of bargains and move in.

Okay, >> they could, but if they're careful, it could turn into like a Detroit situation and have rows and rows of abandoned houses. >> I I think the Chinese will prevent that from happening, Brock. >> Okay. The Chinese are sell out to globalists. Now, if the globalists own a lot of California farmland, what are they going to do with it when they decide to bring it back into operation? Could be under Chinese ownership. Okay. If there's any state that's at great risk of Chinese

ownership and confiscation, it's California. And it's one of the most beautiful places in the entire world. Um, even their desert areas are gorgeous. I mean, I've been to the desert in California. I've been to the desert in Idaho. I've seen a little desert in Colorado. And California's desert is It's just beautiful. I I It's hard to describe. It's just hard to describe. It's It's an idyllic state, and I'd hate to see us lose it for treason and corruption that are mixed.

Okay. the I'm just touching the surface on on the sabotage. I get into more details in my newsletter, but I got to tell you that the May issue was different. And I labored at the beginning before I really dived into it. Am I going to do chapter after chapter of detail and more detail for the bank insolveny, for the economic damage, for the price inflation, this and that, and for the development of bricks? Well, I decided to continue with the detail for development of bricks. But I decided instead for the US

coverage and European coverage, I was going to make it very high level and discuss the the big picture, the overall condition of our countries and our western nations. Discuss NATO, discuss the banks, the dollar, bonds, and mix that in with the bricks development. Um, we're in we're at I love the phrase we're at a knife's edge. And for those who don't know what that means, it's like the fulcrum is this knife. It's not a big wide triangle pendulum or a pendulum. It it's it's a knife's edge and the

slightest movement to the negative side will tip us over. But likewise the slightest movement positive would be will be very helpful. And you know I'm trying to make sense of all this. This is very very dire bad news. But we're on the verge of some positive developments. And there's a guy named Dave X22. I haven't been on a show in about four years. I'd love to be back on the show. >> But he's very positive. >> Um he talks about the continuity of government about the the the breakdown

so that we can begin with with a freed up labor force. Talks about the capital that we brought in. Talks about the patents and intellectual property that can be brought in. He headquarters are okay. All right. We we got to we got to keep moving along here. >> You wanted to know about derivatives and uh >> Yeah. >> Shall I shall I move to that? >> Sure. [clears throat] >> Okay. Um I'm going to run out of voice soon. I'm finding that my voice is strong in the morning, but the more you I use it

with intensity, the more I lose it quickly. In 1987 on Black Monday, the United States suffered a financial crisis that will go down in history for me personally. I lost a huge amount of money, but I was doing silly things. I had a stock account. I had good stocks, two primarily two dominant stocks in my portfolio, but I was using margin and each stock went way down even though they were good companies. I lost a lot of money. It was called Black Monday and it has not been properly reported in the recent annals

of history. Black Monday was largely regarded as a financial crisis uh without a stated cause but they had a remedy even though they did not state the cause. The cause was outsourcing US industry. It started in 1984 with Intel. They moved chip fabrication plants which they called chip fabs. They moved them to the Pacific Rim. They moved to Hong Kong, Taiwan, Singapore, Clean Room Labs. >> Yep. >> And there were a lot of stories about how the United States offered higher costs for environmental controls and for

labor, you know, fringe benefits, workman comp, and all that. And that was a ruse. The same architect David Rockerfeller who brought about the outsourcing trend also promoted the strict environmental controls that furthered this along. He didn't have to further anything along with higher labor costs because the United States traditionally had higher labor costs. And there are only, you know, I shouldn't say that there there are a lot of c countries that don't have workman's compensation. You get injured

on the job, you get replaced, push them out the door. In the United States, you get a big fat wad. But I know a number of people who had to fight like crazy to get their workman's comp payout after being injured on the job. So there's dragging a feet for that. Anyway, the point is we outsourced our industry and I remember like it was yesterday. Three of us, Bob, John, and me and Jack, we got in the office, my office, and we were talking away. I was looking at the Wall Street Journal and it had the the

Intel news about moving the fab plants out. I said, "If this trend increases and grows, we're going to have a crisis in a number of years, like 8 to 10 years." Nope. Nope. It was three. I said, "We're going to lose our legitimate income production." And and the result is what Wall Street called a wonderful financial engineering sector. And Greenspan called it a wonderful derivative debt. What do you call it? Risk. What do you call it? Credit uh offloaded risk. The derivatives are offloaded risk.

What's their foundation? Allan Allen GREENSPAN, I'M TALKING TO YOU. What is the foundation of the derivatives to offload this risk? It's nothing. It's like a spinning cloud. I call it a whirling dervish, but that's that's really not an ac. I just love the phrase whirling dervish. Sounds cool, but actually that's a dance. [laughter] Imagine a spinning plate, but it's really not a plate. It's a cloud. And you use that as a foundation, a spinning cloud of nothing mass. That

is the basis of our economic and banking system. And we use that spinning nothingness as an illusion. And we have rotating bids on these colossal contracts. They're called petrod dollar contracts and they're called bond derivatives, interest rate swaps, euro dollar and interest rate swap derivatives. And we build a lot of things off them. And when you see charts and graphs and tables of big banks and their derivative exposure, that's what they're talking about. So what is a derivative? Well, we have two

main types. We have the petro dollar derivative and that links the dollar with gold, silver and oil. But don't ever leave out gold and silver because it's at a 30 to1 ratio and the liquidation of the petrod dollar contracts will push us back to that asmtote. We will we must arrive gradually at that line of 30 to1 >> and we're at 80 to1 now. 85 to1 I don't know exactly what it is we'll move down to 60 to1 then 50 to1 which means gold will go up but silver will go up more

>> okay got it >> when the United States lost the Arabs and the Persian Gulf in particular Saudi we lost them as our partners in the petro dollar derivative we lost our we lost our partner the Saudi in the pro complex so now Well, we don't run it anymore with their help. We run it alone. And Russia has joined with China to run the Persian Gulf finances. And they're all doing yuan payment for oil and gas. How does that affect the petro dollar? Well, the derivative now has a lost

partner. Think of it no longer as two men running with a yoke pulling a wagon. Now it's one. So there's more difficulty in managing curves. There's more difficulty in managing big winds, crosswinds. [clears throat and cough] We are getting more and more dangerous with our derivatives. I heard a great metaphor analogy u years ago and I I forgot until right now. I just remembered it. Think of the Sears building in Chicago. Now imagine that it gets taller by more debt, but it gets a smaller lobby footprint

by more leverage. gets taller and smaller at the base. So, it gets more unstable to crosswinds. What is a crosswind in our little world? It's economic hits. Like the lockdown. The grandest irony that will go down in modern history will be how the doctors destroyed the bankers. The lockdown destroyed the banks. And now they're trying to consolidate the power of the banks while we're having the increasing momentum with the damage economically for supply chain and prices. Okay, back to derivatives. The

petro dollar needed a higher oil price in order to bail out, to get out, to exit, to just liquidate. Remember three years ago we had a negative oil price. Yes, I do. >> That was because the storage fees overwhelmed [laughter] overwhelmed the the leveraged paper short prices, the naked shorting that was going on in the crude oil price. Unbelievable. Well, that got reversed when the Rockefellers took control of energy policy within the Biden show. They took control and and suddenly we got up to $40 and $50 and I I

erroneously thought they can't maintain that. But I got that wrong. It went up and up and up. >> Yep. But they needed a higher price Brock in order to liquidate and get out of these petro dollar derivatives because now it's more urgent to do so since the Saudis and the UAE and the whole Gulf are no longer working with us on this matter. They're not enemies. They're just not working with us on these matters. They're working with the Kremlin and China on these matters. Okay. Now, the petro

dollar is another derivative that's based on a whirling mass of nothingness with rotating bids. So, there's no great foundation for this. But there is a lot of leverage having to do with the oil price. And I will admit it in ways I do not fully comprehend. and I lost my mentor Rob Kirby from a murder event. They have about 80% of the derivatives. They don't have 80% of the deposits in the country. So, they're running a casino. >> Wow. >> Okay. Now, these bond derivatives are

dangerous because they're so leveraged. Three years ago, we had an event. I'm just giving you a a rough sketch of this. I talk about more details in the hatrick newsletter on Golden Jackass website, but this is impossible to give a thorough treatment without Rob Kirby in the room and two hours of time. >> Got [clears throat] it. This is very exhausting to try to explain. The um three years ago there was an event and it was the repo window being overwhelmed. The banks were in trouble

with with solveny and the hedge funds requested access to the repo window, the the the treasury bond repurchase window. They a they requested formal access to the repo window which was a Wall Street facility and I think a primary bond dealer facility as well. Um but I could be wrong on that. Doesn't matter. The point is the hedge funds were given permission to have access to the repo window. And I asked why to my colleagues and I found out quickly because the hedge funds were using the bond

derivatives for income generation with arbitrage trades with the treasury bonds United offset with the interest rate swap derivatives. Go long treasuries, go short the interest rate swap derivatives. In other words, they extended the casino even bigger using the treasury bonds. And it's a lot worse than what you might think. The hedge funds had access to Wall Street bank accounts and brokerage accounts in the middle of the night, provided they put the money back by 7 in the morning. >> And did they?

>> Well, yeah, but occasionally they were late. That's why they needed the repo window. [clears throat] But the the hedge funds were given access to the repo window which told me that the arbitrage, the gambling, and the illegal illicit access was far bigger than I had imagined. Okay, we've gone way way past algorithm trading and standard simple insider trading. Now it's leverage trading with stolen funds put back by 7 a.m. Okay, these are all tied in with the derivatives and the

bond derivative is the biggest and rather than try to struggle and explain the bond derivative in its form and structure more I want to talk about the effects of raising interest rates on the bond derivatives. >> Sure. The first damage with raising rates is you harm bond portfolios. These big banks think they're smart. They've got plenty of remember that 2021 two COVID stimulus programs 9 trillion dollar 18 months of silent period no publicity. 18 months pass and now they cannot do it again.

So the doctors sabotage the banks. The banks are insolvent and because of problems in the economy due to price inflation that's now global. We exported the price inflation way through a rising price rising interest rate environment and they cannot. They're suffering leverage damage to their portfolio of bonds. May I ask a question? >> Sure. >> Do you believe that the [clears throat] let's just call them the cabal or whoever the deep state wanted and and enforce the lockdowns uh so generally

speaking large banks and large businesses would remain and survive through it and all the smaller banks and um and regional banks and uh businesses in general would go uh belly up. >> Yeah. It's kind of like the super bank. They they'll do a tax on the smaller banks. They'll deny them funds so they can get acquired by the big banks. And with the small business, they they require them to shut down. But Office Depot, uh, Home Depot, Target, >> Walmart, >> Walmart, they all remained open,

>> right? and they all maybe grabbed a good deal of the business from the shutdown little businesses. We like to call them small business or mom and pops. Mom and pops if they're really small and they only have like 30 employees, but small businesses if they got 200 employees and, you know, 17 different outlets and whatever. Um, yeah, [clears throat] I agree completely. It was an attack. It was a fascist policy. Most people don't know what fascism is. They think they do because they read about World War II,

but they don't. I asked my father a few times, "Dad, I I don't think you can define fascism. I don't think you can recognize it. I think it's right in front of you and you don't see it." And he was not able to define fascism. And neither was my brother who had a degree in political science and economy and economics. There are a lot of people who got folios with banks, but if they continue, and I thought maybe they would see the light and decide that they've done considerable damage and they better

stop raising rates, but I think the threats from foreign bond buyers has been so magnificent that they're told, "We're going to dump and dump more unless you offer higher bond yields. We're not going to This is a double-edged sword. If they raise rates, the bonds they hold go down in value, but the dawn the bonds they want to buy will offer them a higher yield. So, we're looking for new suckers to buy bonds and we've run out. So, they're going to be a lot of bond sellers. It's going to continue. It's

going to get magnificent. Um, And it's going to cause a bigger crisis because we're going to create derivative accidents and it could be as soon as August, September, October. Um, >> will >> I'm sorry. Do you foresee let's say somebody owned $10 million worth of bonds, will they then try to sell that at $8 million? I think the the the dirty little secret, Brock, is that they're already being forced to sell at a at a discount. There's already a default in progress.

>> Oh, wow. >> Let me give you an example. South Korea says, "We have 10 billion, not million, we have 10 billion in Treasury bonds we want to dump." And the US government, the Department of Treasury said, "Don't don't put that on the market. It'll it'll freeze the bond market and it'll shut it down. It'll cause a seizure." So the US government says, "We'll take the 10 billion and we'll put it on our balance sheet. will expand by 10 billion

the Fed balance sheet which is no big deal because in the last five years it's gone from 2 and a half to 9 plus trillion but what I expect is that we're going to have dozens and dozens of requests to sell 10 and 20 billion. So it's going to get up to a trillion really quickly. >> Wow. >> Now here's the hard part. Korea says we want to sell the treasuries. If they are selling a dollar denominated security, they do not want dollars. >> They want >> if they don't want they want their own

currency. And to do that, it's got to be with a discount. That's my conclusion. I'm rather firm in this belief. Now, I'm recalling some conversations in years past. If ever a country wants its own denomination for a big Treasury bond sale, it's got to be at a discount. And I heard that it's like 30 to 35%. It's not a small discount. >> Wow. >> I heard rumors, Brock, and I cannot confirm and substantiate this in any way, shape, or form. I heard they're now

giving 40 cents on the dollar for the Treasury bond sales. >> Good God. 60% off. We're we're seeing a default in front of our eyes while we're issuing new bonds. >> Now, that was part of the hidden debate behind the debt ceiling problem. We're issuing new bonds. We're raising the ceiling. We're already in default. We're not admitting it. We're not publicizing it. We're giving haircuts to bond holders. We're issuing new bonds. WE'RE IN DEFAULT. WHAT ARE WE DOING

HERE? We're We're trying to to have a sailboat race in the middle of a swirling septic tank. >> Exactly. >> Okay. Um I hope that my description of derivatives it's more what is what are they about? What are their consequence? Oh, I forgot something really important. There's a war going on between the US and European banks. We're not all the same brothers anymore. Not since the lockdown. The lockdown changed everything because it destroyed the banking sector. Now you've got sharks

eating sharks or is THE EURO DOLLAR DERIVATIVE collapse in the trillion? >> That's even worse. Yeah, that's even worse. >> Okay, now this is all bad. Very bad. Very bad. Very bad. Horrible. Horrible. Very bad. Um, you protect yourself by buying gold and silver. And there's a supply chain interruption for that. Also, the I think has stopped producing silver eagles. >> You took the words right out of my mouth. I was saying I'm seeing a premium on those United States minted coins

because of the uh I don't know if you want to say it was it a complete stop in production but I see a definite premium on US coins. >> Well, the premium has been there for close to a year. It's been growing and it's it it's like I I I've heard that it's like 40% 60%. But I heard two months ago, like March, April, they temporarily stopped production at the US Mint. >> They claimed that they had a silver supply interruption. >> Well, my local coin dealer said because

they have to use silver that was mined in the United States, and he said that uh that they they couldn't find that source. So, that's what he claimed that they were uh that's why they didn't make any more United States minted coins. That's a very good point. I had forgotten that. So it's not like a global market. It's the US market. So if they produce conditions that shut down US mines and that is related to banking crisis, they eliminate the opportunity for citizens to buy insurance with

silver. >> Yes. Unless they buy the next best thing, which will be, you know, uh maple leaves or Australian coins or whatnot. Yeah, the British Britannia is excellent. >> Uh, I think I have a couple of those. I will look into that. >> There's also a Kruegerand silver >> from South Africa. >> Yeah. >> Yeah. Um, there's also the Australia, I think they call it the kangaroo. Um, gold, gold and silver. I would not buy China panda gold and silver. I would not

do that. There are plenty of western alternatives. We may get to a day where a wonderful Chinese panda gold coin will not be honored because of political conflict. I I I don't think it's >> I'm sorry. Do you feel like they are not pure silver minted from China? >> No. No, no, no, no. Because of political conflict. >> I'm sorry. Okay. We don't want Chinese anything. >> Got it. >> We don't care how many nines you've got. That That's a That's a coin parliament.

It's if it's okay. The US purity requirement is 99.9% gold and the Asian and increasingly the European standard is 59s. 99.999. >> Wow. There are a lot of stolen bars of gold in the west like say from the Federal Reserve. The western nations are discovering rather rather clearly now that their gold in the Federal Reserve is not safe. Um >> exactly. They steal the gold. They send it to a Swiss refinery. They put two more nines on. And then it becomes a kilogram standard for Asian sale purposes.

>> I did not know that. >> That's been going on for about five years. Little known fact. I I pick up lots of little little tidbits of information. Anyway, the the dollar bond situation is going to turn dire because so many countries are going to want to sell 10 and 20 billion. Now, to me, that's a nice range because Japan sold $240 billion of treasuries in a 12-month period ending, I believe, in January. 20 billion a month. So, I believe that a large sale dumping would be 10 to 20 billion. France dumped

70 billion in that 12-month period. That's 6 billion a month. >> France, okay, they see the writing on the wall. Don't be confused by the MSM news that France is an ally. There a lot of elements of France that are not part of the Biden show. They want out. They went out of >> dear listeners, I was able to upload a portion of this interview which lasted approximately 2 hours and 6 minutes due to YouTube rules. You can watch it in its entirety from the link in the description. Now, some brief information

about Jim Willie will be given. Dr. Jim Willie is an analyst recognized in international finance and economic circles for his distinctive viewpoints. Commonly known simply as Dr. Jim Willie. He is often said to hold a doctorate in an economic related field, though precise details about his academic record are not widely documented. He is best known for his work shared through his website Golden Jackass, as well as various online interviews and podcasts. His main areas of focus include fluctuations in the financial markets,

central bank policies, currency trends, and particularly the future of gold and silver. A defining trait of Dr. Willy's commentary is his emphasis on precious metals, gold and silver, as critical pillars of the global monetary system. He argues that modern fiat currencies, especially the US dollar, suffer from structural problems stemming from central bank policies and the complex nature of international finance. As a result, he foresees a scenario in which the dollar weakens while gold and silver

strengthen. Dr. Willie is considered by many to be an unconventional financial commentator. His analyses often diverge from mainstream economic narratives, occasionally integrating views that some label as conspiracy theories. Yet, this alternative perspective has resonated with a community of followers who value his exploration of issues they believe are overlooked by mainstream media and big financial institutions. Two, the golden jackass platform and content structure. Dr. Willie disseminates most

of his research and opinions via his personal website, Golden Jackass. The unusual name is meant to highlight his unfiltered approach. He describes himself as presenting blunt truths without fear of reprisal. Many of the articles and reports he publishes on this site revolve around major geopolitical and macroeconomic developments. Typical topics on golden jackass include gold and silver market analyses. Willie is known for predicting significant spikes in gold and silver prices. He argues that continuous

monetary expansion by central banks will ultimately raise the value of precious metals while eroding confidence in fiat currencies. Critiques of the global dollar system. Willie believes the US dollar status as the dominant reserve currency will eventually weaken. He often cites the efforts of countries like China and Russia in developing alternative payment systems and goldbacked arrangements. Warnings of financial crisis. Willie frequently points to risks that he says mainstream economists ignore, such as the

overextension of credit, large-scale derivatives, and the excessive liquidity central banks have provided since past economic downturns, geopolitical events, and their economic effects. His analysis goes beyond pure economics to examine how geopolitics impacts commodity prices, trade flows, and especially the dollar standing in international markets. Some content on Golden Jackass is available only to subscribers. This paid model supports his independent research, which he claims allows him to investigate topics not widely covered by

mainstream financial analysts. Three, economic analysis philosophy and methods. Dr. Jim Willy's approach to economic commentary blends macroeconomic data with monetary and geopolitical factors, resulting in what many consider a heterodox style. Key aspects of his method include historical cycle analysis. He frequently references major financial crises such as the 1929 Great Depression and the 1971 end of the gold standard to draw parallels with current policy missteps. He views economic cycles as influenced by political and

social factors, not just by raw data. Debt and credit examination. Modern finance, according to Willie, is excessively reliant on debt. He emphasizes growing global debt levels and warns that they are unsustainable. Central bank balance sheets and leverage banking practices are frequent targets of his critiques. Comparative currency analysis. Willie tracks how key currencies, the US dollar, the euro, the Chinese yuan, and the Russian ruble compete against each other. He underscores the role of gold reserves

and potential gold backing as crucial in these contests. Geopolitical context. Willie treats diplomacy, strategic alliances, and military advantages as integral to economic outcomes. He sees global finance and politics as intertwined, asserting that a policy shift in one arena reverberates throughout the other. Reliance on alternative information sources. Willie occasionally cites unverified or non- mainstream information, claiming that official data and media may conceal the full story. Critics argue that this

tendency can lead to the spread of unsubstantiated conspiracy theories. Four, main core perspective, transformation of the monetary system. One of Dr. Willy's central thesis is that the global monetary system is undergoing a profound realignment. He believes that the post Bretonwoods world order in which the US dollar has enjoyed near hegemonic status, is coming to an end or is on the brink of doing so. As central banks keep expanding their monetary bases, he expects rising inflation to push individuals and

institutions toward tangible assets like precious metals. At the heart of this view is the idea of the coming end of the dollar or the demise of the petro dollar system. According to Willie, the following trends are evidence of this shift. Countries increasing gold reserves. Emerging markets including China, Russia, and Turkey have been accumulating gold potentially to establish alternative payment frameworks involving gold. Petroleum trade in currencies other than the dollar. Willie cites China's moves to pay for oil in

yuan as a direct challenge to the dollar's monopoly in global energy markets. Alternative payment systems, new networks to replace or supplement Swift, such as China CIP, could undermine the dollar's role in global trade and lessen its power as a vehicle of economic sanctions. Willie portrays these developments as gradual, with many going under reportported. The eventual result, in his view, would be a breakdown of the dollarcentric system that would profoundly disrupt financial institutions and national economies

while boosting the position of gold, silver, and other real assets. Five, the role of precious metals, gold, and silver forecasts. Dr. Willie is particularly noted for his commentary on gold and silver. He argues that these metals have served as money throughout history and assume the role of safe havens in times of crisis. While central banks can expand the money supply almost limitlessly, physical supplies of gold and silver remain finite, favoring these metals in the long run. He often alleges

that gold and silver prices are manipulated or suppressed. According to this viewpoint, major banks use large volumes of paper gold futures contracts derivatives to depress spot prices as letting gold prices rise organically would highlight fiat currency's weaknesses. Willie also applies this argument to silver, contending that silver is likewise undervalued but manipulated. Nevertheless, Willie believes that such price manipulation cannot persist indefinitely. A surge in physical demand, he argues, will sooner

or later expose discrepancies in the paper market, leading to a dramatic revaluation of both gold and silver. In such a scenario, gold could rise well into the thousands of dollars per ounce, while silver might break into tripledigit territory, an outcome that could shake the entire global financial system. Six, the US economy and Federal Reserve criticisms. Given that Dr. Jim Willie is primarily based in the United States. He frequently critiques the Federal Reserve Fed. He contends that the Fed's policies of quantitative

easing and prolonged low interest rates have masked deeper problems while magnifying systemic risks. In his view, these policies only offer temporary fixes without addressing underlying debt and leverage issues. His key points of contention include unback money creation. Willie argues that the Fed's expansionary practices are disconnected from real economic productivity. Over time, such policies lead to higher inflation, even if official statistics do not fully capture it. Banking system vulnerabilities. According to Willie,

large US banks are more fragile than they appear due to their exposure to highly leveraged derivative products. Wealth disparity. He contends that Federal Reserve policies inflate asset markets. stocks, real estate, mainly benefiting the wealthy, while rising costs of living erode the purchasing power of lower and middle inome groups. External debt and trade imbalances. Willie points to America's escalating national debt and trade deficits, predicting they will reduce trust in US Treasury bonds over time and threaten

the dollar's reserve status. Willy's criticisms draw from independent research and alternative media sources, which he sees as less prone to presenting sanitized official narratives. While his supporters view him as exposing under reportported truths, critics accuse him of selective data usage or undue alarmism. Seven, geopolitical analyses, East West economic rivalry. Dr. Jim Willie incorporates a geopolitical lens into much of his economic commentary. He posits that the world's financial and

political power is shifting from Western nations, particularly the United States and the European Union, toward eastern powers like China and Russia. This shift, in Willy's view, involves energy resources, major trade corridors, and the struggle for technological advantage. Key points he often raises include the belt and road initiative. Willie believes China's massive infrastructure project will reshape global trade routes, reduce reliance on the dollar and accelerate Eurasian economic growth, goldbacked currency

deals. He speculates about the possibility of China and Russia jointly introducing a goldbacked digital currency or forming a trade block that circumvents the dollar. Energy wars. Willie states that which currencies are used to settle oil and natural gas contracts is vital. if Russia shifts to selling energy in rubles or yuan or in exchange for gold. He sees this as a direct threat to the petro dollar system, diplomatic and military tensions. He asserts that international tensions and conflicts can hasten

financial decoupling leading to regional economic blocks and alternative payment networks that erode the dollar's reach. Willie often cites Russian, Chinese, or other non-western media sources to bolster his arguments, which tend to frame developments as part of a broader east-west struggle. While mainstream sources may find these views too stark or speculative, Willie supporters regard them as a clearer portrayal of how global power balances are evolving. Eight supporters and critics in the

realm of economics and finance. Dr. Dr. Jim Willie is considered an alternative analyst rather than part of the mainstream. This status has earned him a committed following while also drawing criticism from established economists. Supporters belief in expose of hidden realities. They see Willy's commentary as a revelation of financial manipulations overlooked by mainstream channels. Precious metals enthusiasts, investors bullish on gold and silver tend to resonate with Willy's stance on

the eventual surge in precious metal values. Those interested in conspiracy theories. Willy's emphasis on secret deals and under the radar developments appeals to people who suspect official narratives are incomplete. Critics accusations of excessive speculation. Critics argue that many of Willy's forecasts have either failed to materialize or lack solid backing, disconnected from market realities. Some economists see Willy's views as too extreme, diverging significantly from conventional market indicators,

promotion of conspiracy theories. Central to their critique is that Willie relies heavily on data or rumors that mainstream economics deem unverified. Dr. Jim Willie often counters these critiques by stating that time will prove him right. His followers tend to regard short-term inaccuracies as less important than the larger long-term trends he highlights. Nine major themes in publications and interviews. Dr. Jim Willie appears regularly on podcasts, in online interviews, and through articles in which he reasserts or refineses his

views about global finance. Recurring themes include monetary policies and the prospect of inevitable collapse. Willie often labels the ongoing wave of central bank easing as unsustainable and believes it will lead to an unprecedented debt bubble, global trade, and the dollar standing. He focuses on the likelihood of the dollar losing its primacy in oil transactions. In his view, geopolitical powerhouses like China and Russia are accelerating this shift. manipulation in metal markets. According to Willie, the only reason

gold and silver are not trading at much higher levels is price suppression, which he believes will eventually fail. Investment suggestions. While stopping short of giving direct investment advice, Willie regularly emphasizes the value of holding physical gold and silver. He sometimes comments on real estate, cryptocurrencies, or other commodities, but his primary stance remains consistent. Tangible assets are a hedge against potential financial turmoil. 10. Dr. Jim Willy's forecasts and their accuracy. Like many financial

commentators, Dr. Jim Willie has made various predictions over the years. While some have aligned partially with real outcomes, others have not materialized according to his expected timelines. Critics highlight inaccurate or postponed forecasts, especially concerning the swift collapse of the dollar or hyperinflation that did not occur as predicted. Willie and his followers attribute such delays to factors like ongoing market manipulation or new geopolitical agreements that slowed down the anticipated shifts. They

also stressed that his analyses revolve more around long-term structural issues than short-term market timing and that certain economic events might simply be unfolding later than initially expected. At the same time, supporters note that Willie accurately pointed out the continued expansion of central bank balance sheets and the trend of countries accumulating gold reserves. Whether these represent unique insights or broader trends also recognized by mainstream analysts is open to debate. 11. Conspiracy theories and critiques of

mainstream economics. Dr. Jim Willie sometimes embraces viewpoints described as conspiracy theories such as allegations of covert arrangements among global banking elites or claims that certain financial institutions deliberately engineer crisis. These comments often lack direct support in official reports or academic literature, undermining their acceptance by mainstream experts. Nevertheless, Willy's core audience contends that the very absence of this information in major news outlets is evidence of

systematic cover-ups. This tension results in a polarized reception. While some commend him for tackling subjects that major economists avoid, others dismiss his arguments as relying on rumor or anecdotal evidence. 12. Building an audience and media strategy. Dr. Jim Willy's influence stems in large part from digital media. Rather than appearing frequently on television networks or in major newspapers, he has cultivated a following through. His website Golden Jackass. The subscription-based model allows him to

finance his research and post in-depth analyses without relying on traditional editorial norms. Podcasts and interviews. Alternative finance channels invite him to discuss his views, giving him a platform free from mainstream editorial constraints. Social media. Willie uses social media platforms to share shorter commentaries and link to his more extensive articles or interviews. This approach targets a niche yet dedicated audience, particularly those skeptical of mainstream financial narratives. Willy's

unconventional or controversial theories find an environment of fewer restrictions online, aligning with audiences seeking alternative takes on global economics. 13. Dr. Jim Willy's place in the financial world in mainstream banking circles or academia. Dr. Jim Willie is not widely cited. Instead, he operates as an independent commentator, an outsider who both intrigues and polarizes observers. Critics consider his warnings overly dire and his reliance on unofficial data problematic, but the financial turmoil

of previous crises has also made many investors more open to unconventional perspectives. Those who value his work stress how events like the 2008 financial crisis validated skepticism toward institutional analyses. Willy's arguments about the unsustainability of constant monetary easing and the precarious nature of the global debt burden echo broader concerns, though he often frames them more bluntly. Overall, Dr. Jim Willie sits at the intersection of alternative finance commentary and mainstream critique. While he has a

loyal core following, he is also subject to ongoing scrutiny by economists and analysts who question his methods and conclusions. 14. Conclusion and assessment. Dr. Jim Willie stands out in alternative finance circles through his strong critiques of central banks, fervent support for gold and silver, and emphasis on significant geopolitical realignments. His central premise is that the current global financial order, especially the dollar-based system, is unsustainable. According to Willie, everinccreasing debt and persistent

market manipulation will eventually trigger a major monetary crisis. one in which holders of real assets, particularly precious metals, will thrive. Yet, questions remain as to whether his most dramatic predictions will unfold precisely as he envisions and on what timeline. His track record has been mixed and skepticism about certain forecasts lingers. Supporters respond by emphasizing that Willy's perspective is best understood as a warning about underlying fragility. fragilities that may require more time

to materialize or that might manifest in ways not easily predicted. Regardless of these debates, Dr. Jim Willie has established a definite niche. His analyses, whether embraced or doubted, compel audiences to consider alternative possibilities and deeper layers of the global financial system. For that reason, those who engage with Willy's writings often do so with a blend of caution and curiosity, recognizing that while his approach can veer into unconventional territory, it may also provide a valuable counterpoint to

mainstream narratives.