Jim Willie från Golden Jackass har lagt ut en artikel, “Banker Brushfires Risk Jumps“, som tar upp den aktuella situationen i dagens ekonomiska system. LIBOR-skandalen, bubblan i USTBonds, det försvunna guldet från allokerade konton i Europa m.m. Systemet håller verkligen på att falla i bitar.

Som av en händelse fick jag en pratstund med en högt uppsatt person inom Deutsche Bank i förra veckan. Jag frågade om vad han gjorde med sina pengar privat. Svaret var “I have no cash”, allt var investerat framförallt fastigheter i Tyskland. “Get out of cash” var rådet, get into tangibles. Sedan fortsatte han att säga att “Don’t buy any stock in Deutsche Bank”. I hans mening var Deutsche Bank värst ute av alla i Europa. Han var rädd att förlora sitt jobb i förlängningen. På min avslutande fråga om hur han såg på framtiden för ekonomin så var svaret “We’re fucked”. 

Som en liten förberedande artikel, innan du läser Banker Brushfires Risk Jumps bör du även läsa “USTBonds: Black Hole Dynamics“; hur systemet har nått en tipping point där Willie hävdar att bubblan i USTBonds kommer att svälla så stor att den suger in många andra investeringar och kapital tills dess att den kollapsar av sin egen framgång. Här följer ett utdrag ur en intervju med FOFOA om detta:

Q: The irony of the entire situation is that a currency like “dollar” which is being printed big time has become the safe haven. How safe do you think is the safe haven?

Indeed, everyone seems to be piling into the dollar. Especially on the short end of the curve, helping drive interest rates ridiculously low. The dollar is as safe as a bomb shelter that’s rigged to blow up once everyone is “safely” inside. You can go check it out if you want to (sure, from the outside it might look like shelter), but you don’t want to be in there when it blows up. You’ve got to realize that it is both economically and politically undesirable for any currency to appreciate against its peer currencies due to its use as a safe haven. Remember the Swiss franc? As soon as it started rising due to safe haven use they started printing it back down. The dollar is no different except that it’s got a whole world full of paper obligations denominated in it. So when it blows, the fireworks will be something to behold.
fofoa.blogspot.se/2012/07/interview

Utdrag ur Banker Brushfires Risk Jumps:

As preface, consider that the USTreasury 10-year yield went below 1.4% this week. Some unenlightened celebrate the asset appreciation and point to a successful asset in performance in an otherwise dismal financial market. The Jackass said in the June 6th public article “USTBonds: Black Hole Dynamics” that such a success is a marquee billboard message of economic meltdown and systemic failure. As the rally continues, possibly the onliest rally outside of corn and soybeans in yet another disaster, people should focus on whether the systemic collapse will occur before the 10-yield hits 1.0% in my warning. Focus on four major points:

• The unspoken effect of ZIRP (0%) is the powerful ongoing destruction of capital, as the entire cost structure rises
• As equipment goes off line further, the USEconomy will weaken further, in a powerful vicious cycle
• The official Zero Percent Interest Policy is the calling card of the Gold Bull Market, powered by negative inflation adjusted returns on savings
• The USTBonds will fail from their own success, unleashing the Gold Price when the investment community and global creditors realize no further potential appreciation in the most massive asset bubble in modern history, supported by Interest Rate Swap derivative machinery. Money will eventually fly out of bonds and seek true safe haven.

via: tfmetalsreport.com/blog/4049/hangin-winston