TFMR Podcast #43 - Jim Willie Returns


If you can spare the time, you'd better give this a listen.

Back on Friday, Jim published what he called "one of the most important articles he'd ever written". If you haven't yet, you should read it now. It can be found here:

Jim and I felt that his observations and conclusions were so important and so timely that we needed to record this follow-up podcast as soon as possible. It worked out that we were able to speak on Monday afternoon.

I'm confident that you'll enjoy this informative and compelling podcast.



Apr 1, 2013 - 5:35pm


oh yeah

now I will listen


Apr 1, 2013 - 5:36pm


Looks like 2nd... never even tried to get top 10 before...

Apr 1, 2013 - 5:37pm


We love you JIM! And TURD!

old tradesman
Apr 1, 2013 - 5:41pm

top ten

just because, ok fourth

Nigel Black
Apr 1, 2013 - 5:45pm

TURD - you are the best

Need I say more?

Apr 1, 2013 - 5:48pm

Happy to be Fifth

Thanks Turd .. Happy to be fifth in line to listen to Dr. Willie and the Turd.

Oh yeah that's right too - the Jackass on April Fools day - can't get any better than that.

Apr 1, 2013 - 5:56pm

Running Out Of Acronyms In 4 Steps or Less

As always, thanks for the effort involved TF


Why the Euro Is Doomed in 4 Steps

It's the gold standard minus the shiny rocks

Matthew O'Brien

Mar 30 2013, 1:47 PM ET


We're going to need a bigger acronym.

In the beginning, it was just the "Greek debt crisis". Then markets realized Portugal, Ireland, Italy, and Spain were in bad shape too, and the PIIGS (or GIIPS) were born. But now Cyprus and Slovenia have run into trouble as well, giving us the ... SIC(K) PIGS? At this rate, we're going to have to buy a vowel soon, assuming Estonia doesn't end up needing a bailout.

The euro crisis is entering its fourth year, and, sorry world, this won't be its last. Now, its long periods of boredom have gotten a bit longer, and its moments of sheer financial terror a bit less terrifying ever since the European Central Bank (ECB) promised to do "whatever it takes" to save the common currency. But, as Cyprus and Slovenia show, the battle for the euro isn't over yet. Not even close.

Here's the Cliff Notes version of the euro crisis. The euro zone doesn't have the fiscal or banking unions it needs to make monetary union work, and it's not close to changing that. In the meantime, the euro's continuing flaws continue to suck countries into crisis. And their politics get radicalized. Most recently, Cyprus was forced to accept a bailout and bail-in, because its too-big-to-save banks made some horrendously bad bets on Greek bonds. Slovenia looks like it could next on the euro-bailout tour, because, as Dylan Matthews of the Washington Post points out, its too-big-to-save-ish banks made some horrendously bad bets on its own companies. Now, banks make bad bets all the time, but those bad bets can bankrupt you as a country if you don't have your own central bank. Like euro countries.

Of course, this "diabolic loop" between weak banks and weak sovereigns isn't the only problem in euroland. The common currency has plenty of other flaws. Here's why the euro, as it's currently constructed, is a doomsday device for mass bankruptcy. (How's that for solidarity?).

1. Too Tight Money

2. Too Tight Budgets

3. Too Little Trade

4. Too Much Financial Interconnection

Apr 1, 2013 - 6:04pm


Sorry but had to tighten that up. Too much of the original article and I don't want to get into copyright issues.

Thanks! TF

Apr 1, 2013 - 6:44pm

No problem

Fully understood, I should know better.

Apr 1, 2013 - 7:25pm
Apr 1, 2013 - 8:18pm

Russians, Chinese, Saudi's/MENA

Powerman 5000 - When Worlds Collide

I'm pretty sure their wouldn't be much left of MENA (besides rebuilding) if we were to relinquish it in some manner not of our choosing.

The Saudi's aren't stupid and there's this thing called power projection that no one is close to matching. Our naval assets compromise about 47% of all naval assets in the world in total.

Russia and China at some point will face each other in their own hemisphere before one or both take us on in a bid to secure MENA. A look at a map and what's going on in 'their ' neighborhood makes that seem likely.

If or when that abdication of MENA becomes the case the US will then dominate the western hemisphere like none could or want to believe for centuries to come.

That's what I think will happen eventually. There's lots of oil, natural gas and other valuable resources over here on this side of the planet despite what some might think.


Apr 1, 2013 - 8:47pm

Superb Interview.

Us slavoradors don't get much truth within these here banana belt republic boarders. Least we've had some years to prepare our economic life boats. You can be certain the banksters, in concert with the gov goon platoon, know the financial USS Titanic has had about as many holes blown in it's bottom, takin on a complete saturation of debt; sufficient to plummet the late great corrupted keynesian experiment to a watery grave. The financial tsunami is at our doors. Least we here in turdville have prepared our economic life boats and will continue to do so. Knowing most assuredly, our corrupted bankster and gov goon platoon have already takin the financial life boats and set off to watch we the people drown on USS Titanic's deck. I'm certain we at turdville can put together 30 pieces of silver to send the rat bastards off on their way to hell. Thank heavens for this site, the internet, and the truth, which sets us free from the lies of evil and designing people who seek our destruction. Holding high office in the lowest of black esteem. Treason beyond comprehension of decent citizens, nevertheless the nature of the beast to rule over us, come hell or high financial drowning waters. It comes swiftly. Even as a thief in the night. Thanks turd for not allowing us to fall asleep and be swept away. I see clearly the door of the financial ark is closing. All aboard or get your money back on the financial swimming lessons from your most trusted talkin heads.

Apr 1, 2013 - 8:48pm

Good interview as always

Jim Willie connects some pretty big dots and the concepts are potentially world-changing. I believe he was the 1st with Nortic-Euro concept and anti-Petro Dollar theme, both potential death knells to Pigatha...

Apr 1, 2013 - 9:12pm

China has opened for business

Gold shall be greater than 1600 USD.

Please pass the HK dollar.

The USD isn't as good in China now.

oh was nice when the Federal Reserve lasted.

A quick message to NYC and EE - the next time you spend a few million dollars to push the price in USD's down, realize that the Asian buyers are queued up in Hong Kong as you shave another 1% off your own sales price.

(image is a Kitco graph for today (4-1-2013)...note the change in slope of the Gold curve as Hong Kong opens).

(if you are viewing on 4-2-2013 or later, the graph will not show the same data.

Apr 1, 2013 - 9:13pm

Cliff and Language pick up. Saudi Gold... thanks Turd!

I ave a friend who runs in some pretty extensive circles. He let me know he had a client looking for 500+ tons of gold. I m pretty sure they were coming out of the middle east and more than likely Saudi. So all of a sudden its all pretty clear why theres global funds looking for 500+ tons of gold. We all knew it was coming, a real currency. Too many paper games. Thanks for the great interview GUYS. risk of seeming silly. Cliffs always fun and hes talking about a common topic for this thread. Hyperinflation, metals and CYPRUS. I listen with a grain of salt, but an open mind.

Maybe Cliff, should join us.

Video unavailable

Theres a language explosion around this.....lets see if money follows language.

I dont know. Maybe the best science fiction ever...


All guys girl wants to talk about is a audi thinking that would be a fat pile of silver.

Mr. Fix
Apr 1, 2013 - 9:15pm

I had to go out for a few hours,

and I find more Jim Willie when I get home.

Life is good,

thank you,

thank you,

thank you Turd!

Apr 1, 2013 - 9:28pm

Spanish thieves steal Virgin's crown on procession eve

Updated: 01 Apr 2013 14:41 GMT+02:00

Municipal workers discovered the theft on Monday after noticing two of the chapel's door locks had been broken. When they checked the Virgen de Sacedón and Christ Child carvings, they noticed both were missing their gold crowns. The holy sculptures have been the emblem of Pedrajas de San Esteban in Castilla - La Mancha since the village's pilgrimage began to take place in the 17th century. Pedrajas de San Esteban's mayor Sergio Ledo told Spanish news agency Europa Press he was disgusted by the robbery, especially considering it occurred the night before the village's most important celebration. "Even though the crowns aren't very expensive, their theft is a huge insult to the villagers and their heritage." Ledo told Europa Press that "fortunately" the chapel has a spare silver crown to replace the golden one. Spanish Guardia Civil believes the thieves managed to break in by using a signal jammer or that the chapel's alarm was simply not working. The Virgen de Sacedón celebrations will continue as planned on Monday afternoon with locals and outsiders taking part.
Biochar ¤
Apr 1, 2013 - 9:31pm

disagree w DPH

DPH: "I'm pretty sure their wouldn't be much left of MENA (besides rebuilding) if we were to relinquish it in some manner not of our choosing." & "Russia and China at some point will face each other in their own hemisphere before one or both take us on in a bid to secure MENA"

Relinquishing will eventually happen not of our choosing due to the blossoming trade agreements JW was discussing in the podcast. As this new dynamic takes on inertia, peacefully by the way, more nations will enter into that fold. China and Russia gain immensely from being partners, I don't at all see them facing off, I see a future of relative harmony once the dollar is replaced and we've had our reset. As far as that "United Bases" graphic... ooh, scary ~ to add to what JW said (reaction against past US military imperialist BS), that behemoth monster is a big reason why our debt load is ever increasing, making us weaker on the proverbial chessboard. Like JW wrote in his most recent article, checkmate. Any foolish military adventures by the US will hasten its isolation.

Apr 1, 2013 - 9:35pm

Bedmaker cashes in on Spain savings fears

28 Mar 2013 01:53 GMT+01:00

An ingenious bed manufacturer in the Spanish city of Salamanca has developed a crisis-proof mattress that comes within an inbuilt safe.

The high-quality mattress was developed by a company called Descanso Santos Sueños (DESS), or "Dream Heavenly Dreams". It contains an inbuilt safe where people can stash their money and valuables out of the reach of eurozone financiers.

With a price tag of €875 for a double bed, the mattress was released only three weeks ago — or just in time for the Cyprus bailout. After Europe's finance ministers decided Cypriots with more than €100,000 in the bank would have to help pay for bank rescues on the island, people across the eurozone have become jittery about their own savings. But with the DESS mattress people can sleep easier at night.

In a video on the company website, founder Francisco “Paco” Santos says: "They say history is repeating itself. "Our grandparents understood that the safest way of saving money was under the mattress. "Now we are proposing the same thing, because we have seen people's lack of certainty about the current situation."

Santos worked in the mattress industry for some 16 years before being fired in 2009. Instead of throwing in the towel, however, he developed the idea of the mattress known as the "caja de ahorros", or savings union.

"There's no denying that our idea is slightly crazy, but we believe that with this mattress we can help people sleep well, not just because of its high quality, but because they will have peace of mind," said Santos in the video about the company.

Santos told Spain's El Economista newspaper his firm had received 80 enquiries in one week alone, and that 30 deals had been completed. He also said an international company had expressed an interest in the Portuguese-made product. Asked whether the business was profitable, Santos explained to El Economista that as the owner of a small business, he was more interested in covering costs. "You can't do any more than that," he said.

The company has also invested in a clever advertising campaign that mocks traditional bank advertisements. The ad includes a fictitious bank, the Caja de Ahorras Mi Colchon, and Santos is its president. In the ad, the bank president invites people to become clients by buying a mattress and putting their hard-earned savings money inside. Santos then assures viewers that this mattress is the best security because it doesn't "fail or merge, or dance to the music of the markets". The company's slogan is "Your money stays close to you".

Bedmaker cashes in on Spain savings fears

Apr 1, 2013 - 9:44pm

Thanks Jim and Turd!

I just finished listening to this podcast. It certainly puts forward a somewhat different perspective and dovetails nicely with the article from Jim over the weekend.

Jim's theory about a gold-backed currency (trade mechanism) based on the Brics Fund makes quite a bit of sense. This is Chess at the highest level. It's starting to feel like Russia/China having been playing like Masters and the US a bit like an inexperienced kid. Rather than abandoning the petro-dollar, these guys are building their own alternative (backed by real money) and using their excess (and soon to be worthless) US Treasuries to fund it. The play is brilliant when you see it.

I suppose on a much lower level, Turdites can do the same by swapping fiat for bullion in hand.

Apr 1, 2013 - 9:50pm

Exactly, RW!

All we are advocating here is the same strategery, writ small.

Dump your worthless and devaluing dollars and convert them into hard assets, which you can use to preserve your accumulated wealth and conduct future commerce.

The Watchman
Apr 1, 2013 - 11:11pm



Apr 1, 2013 - 11:15pm

Gc Got a question for you.....

Do you think it's possible to keep a EMP attack that crippled a US destroyer a secret for long? With modern technology that makes anonymity assured(if used correctly)I would think we would have some pretty massive leaks? I've searched the web tonite and will be in coming weeks to find mention of this reported attack and have not been successful in gaining info. I'm asking you because your experience and military knowledge. Thanks BN.

Apr 1, 2013 - 11:27pm

@ BIGNASTY on April 1, 2013 - 11:15pm

Excellent question. I'm torn between how long the 'bad guys' have kept the USS Liberty tragety out of public perception since 1966 I think, and how the peer-to-peer communications with the internet have cut through the information roadblock of the corporate media.

The Watchman
Apr 1, 2013 - 11:31pm
Mr. Fix
Apr 1, 2013 - 11:38pm

Just finished the podcast.

Excellent job, I listened to his interview by a woman on another site last week,

and it seems like he's actually filled in a few more gaps this week. I like how he thinks that the American dollar has just a little bit more time before it goes down in flames.

I would take such a statement with a spoonful of caution, since most people in Cyprus “never saw it coming”,

I am expecting the same here, despite the fact that a dollar collapse is blazingly obvious to anyone who is really paying attention, most people are not.

That being said, I think we've been well warned that a dollar collapse is on the horizon, and our Department of Homeland Security is actively preparing for it.

At the risk of being somewhat off topic, although I think it highly relevant to “the end of the great Keynesian experiment,”

how exactly is a dollar collapse going to affect the average American?

Do you think the Obama administration will be capable of dealing with such a scenario?

With all of the “hope and change”, and all of the “recovery” that they are trying to sell us,

do you think our government has a plan B for when the dollar collapses?

How exactly are they planning on financing the government?

How exactly are they going to pay for Obama care?

How are all the welfare people going to survive?

Will the food stamps still swipe?

If our banks are cleaned out like Cyprus, how are we going to buy food?

How are people going to make mortgage payments if they have no money?

How are people going to pay their taxes if they have no money?

How is the Infrastructure and supply chains going to work?

What are they going to use those 2 billion bullets for?

What is going to replace the dollar?

Somehow, I do not think this works with the “one world order” crowd, in fact, they can keep stories like this out of the mainstream press, and they can ignore it, but that's not going to make it go away.

And then there's our little dictator in the White House, how exactly does he plan on staying in power of a bankrupt country?

Jim Willie has put together a very plausible scenario for every other country on the planet,

but he left out a glaring exception,

what is to become of the United States? (I know he said the US will be a third world nation,

but I was hoping for just a little bit more specific picture of what that means).

And when all is said and done, will our stacks still be worth anything here? Or would we be better off some where else?

Excuse me,

I realized that there are a few "Turdites" that might consider me as being off topic, or provocative, but these particular topics are what interests me, and besides, this is a Jim Willie thread.

I have my stack, I want to know what's going to become of everything else.

By the way, I think Jim Willie is being generous on the amount of time we have left,

I do not believe we have very long.

But then again, most of you already knew that.

Oh yeah,

keep stacking.

Apr 1, 2013 - 11:40pm

Junior Miner Blog Update

A couple new updates to my blog, the Mining Muppet, including the BB crash trade today:

Mr. Fix
Apr 1, 2013 - 11:45pm


It seems to me that our current government has made whistleblowing a capital offense,

and just to make sure, I strongly suspect that even “potential whistleblowers” are dealt with before such a offense can be committed.

Just like when they put all of “seal team six” on a helicopter, and then promptly shot it down,

so there is no one to refute the “official version”, I wonder if you'll ever be able to find a "tin can sailor" that can ever remember such an event.

These guys don't mess around when they want to keep a secret.


Although I don't have nearly your experience, I have shared your concern for years.

Great post.


There have been all kinds of leaks coming out of the Department of Homeland Security, along with various other law-enforcement agencies, with updates on preparations for martial law,

and even here, few take them seriously.

A good leak is hard to come by, but I do wish you the very best of luck with your search.

Mr. Fix
Apr 1, 2013 - 11:48pm

@ The Watchman

That is a great picture,

but it hardly seems his style. Do you have any with him holding a flamethrower?

I'm thinking a little bit more along the lines of a scorched earth policy.

Apr 1, 2013 - 11:53pm


Some good retorts on Russia/China/ MENA & the US and what I said above.

I can't disagree with any of those thoughts. I don't think the US cares (or has ever truly cared) about being isolated or they wouldn't have conducted their affairs the way they have.

In fact, in the past 12 years post 9-11 they've actually accelerated their efforts. Despite their lip service about caring, they might in fact care less then ever.

I understand the idea that Russia/China will co-operate in an increasing manner in the future but if their history is an indication that cooperation will only go so far before they resume a nationalist slant at some point. The old saying..."keep your friends close and your enemies even closer" would seem to be their relationship dynamic despite their current trade cooperation and their proximity to each other.

I think if the US senses that their interests are threatened they'll do whatever is necessary to submarine those who try to do so. They have a tendency and history of extreme violence. Which leads me to think they'll get even more disruptive going forward.

I agree with Guerilla Capitalist that they're stretched thin. But it seems like they have been for quite awhile. I think they'll slash and burn the area before they lose it or turn it over.

In any event, at some point they'll 'unstretch' themselves due to budget concerns (or because their finished in MENA) and consolidate, and they'll dwell on western hemispheric domination instead where they'll rule for a very long time while keeping the East blocked out from S. & C. America.

I believe the UST scenario is overblown to some extent and that if that aggressive move in the UST happens abroad ( by Russia/China) that the US will react aggressively in some manner even moreso then what we see today. What we are seeing today in fact is increased demand for UST's while a shortage of USD exists in some countries.

With a very influential ZIRP in place keeping rates down due to it and a aggressive debt monetization policy in place I think this will result in some unforeseen or undesired outcome that isn't as negative as some might think. How else to explain a current demand due to a hot money flow for UST'S and USD'S?

Believe it or not, when the Euro disintegrates the USD/UST will be perceived as even more desireable.

Time will tell many things but I don't think the US will abandon or lose MENA anytime soon. Nor will the UST just roll over. Demand is still there even by Russia and China to this day to some extent.

If they stop buying or in fact get real aggressive towards the UST/USD the US will respond in kind because they're not concerned about appearances or isolation even if they say they are.

Their actions speak louder than their perceived care about being isolated. The current UST and USD demand speak to that end.


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