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JIM WILLIE — Wide Ranging Banking Failures in Progress, IRA/401k Confiscations [PT. 3]

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21 comments to JIM WILLIE — Wide Ranging Banking Failures in Progress, IRA/401k Confiscations [PT. 3]

  • Tom Aumeg

    If, as the headline says, the dollar is rejected globally and most Americans won’t even know it, it will be because they believe that the hundreds of countries that have rejected it are terrorist sponsors who need to be invaded right away. Otherwise, they’ll know.

  • Tom Aumeg

    Pension confiscation comes up every now and then. But the proponent rarely thinks it all the way through. Confiscate pension funds that hold securities, you can’t spend securities. You need cash, not securities. The amount of cash they need does not exist in private hands, anywhere. And who in the heck is going to buy securities when you’ve confiscated the biggest buyer, the pension fund? They might mandate that over the next 3 years, all pension funds have to be 25% treasury bonds, or something like that. But outright confiscation is not going to solve their problem.

    • Angel

      Exactly, and I do believe that conversion to Treasury Bonds is being discussed. It has been for as few years now, and I wouldn’t be at all surprised to see it come to fruition. What percentage is anyone’s guess. I also believe this myRA business is based upon this idea, but that’s something seperate.

      I can’t imagine that Willie actually advocates this (though at first listen, it almost sounded like it), but rather, was suggesting that the conversion would be more sensible from the standpoint of a viable form of wealth confiscation that would benefit the banksters.

    • Ed_B

      I agree, Tom. But, it is also possible that the mere mention of a forced conversion of equities in pension plans to US Gov bonds, for our own good / financial safety, of course, will cause a lot of us to withdraw our money from these pension plans and pay a substantial amount of it in taxes. That could be the primary goal in all this from the US Gov’s perspective. Besides… I can’t think of too many things that would enrage the US electorate more than any kind of a pension plan grab. No political party espousing this would survive the next election. In fact, like the Whig party way back when, it might not survive, period. All this assumes that there would be a next election, of course.

      • Angel

        Good point. Unless, of course, it reaches such a degree of degradation that they don’t give two shits what we think or what enrages us. After all, they will likely have their security fully in place and ready to role by then, not to mention executive decree. I’m tempted to say we’re practically at that point now, but I don’t want to jump the gun. Because I know it could get a whole lot worse.

  • Long John Silver

    off topic..

    No Treason: The Constitution of No Authority | by Lysander Spooner

  • John

    I have even more respect for JW after listening to this third installment. JW said to allocate 80% of your soon to be worthless dollars to SILVER. Let’s be honest, there are Gold snobs out there who belittle silver stackers, and they call silver “volatile”, the “devils metal”, and oh yeah who can forget….”Silver is bulky.” These Gold snobs are always steering the precious metals story towards one metal – Gold, silver be damned. But here is Jim Willie, A.K.A. the GOLDEN Jackass no less, telling clients and listeners to allocate funds 80% Silver and 20% Gold. JW is a truth teller and without getting into all the specifics of why silver is the better investment, here is just one consideration: Ratio of Gold to Silver as it comes out the ground today, 1:9 and current price ratio today, 1:63.

    Thank you Jim Willie for being a class act and telling it like it is!

    • Ed_B

      Yes, John, there really are what could be called “gold snobs” in the PM world. But there are also some “silver snobs” as well. Personally, I find both positions untenable. BOTH gold and silver have considerable use and value. There is no law preventing us from owning both of these metals and for reasons that make more sense for this or that metal in this or that situation. I own both metals and recommend that others do as well. The percentage of their wealth that they hold in metals is up to them, as no one other than them knows their financial situation and goals better than they do.

      I like the value of silver and its potential for use in bartering situations. I like gold for its high value per weight and volume of metal. Neither of these reasons is sufficient to reject the other metal from consideration as a financial holding.

  • knowtoomuch

    ■ Pilgrims Society, 6-part SUPER-article :

    bitchez …

  • Brian

    For fuks sake part 4 now? What are we going to cut Jim Willie interviews into 48 parts?

  • AgShaman

    Should the USA revisit the Weimar Republic via currency isolationism….

    The securities accounts of Amerikwans will keep up with inflation for a period of time, but this is just a stretched out smoke screen to allow bigger fish to exit the game and get into real assets (read: help the middle class divest themselves of their property). They will be locked into a maniacal roundabout to nowhere and suffer more confusion by paid charlatans like that goofball Cramer…that will keep them in the game that will eventually bankrupt them. When the country becomes a full-on service economy and they witness foreigners in droves taking trips here to wine and dine on the fallout of an isolated dollar…then they may wake up, but it will be too late. That sort of isolationism did not happen overnight in the Weimar Republic, but rather a few years in the making. With the dollar being the world’s reserve and spread around the globe…it could take that many years and then some to play out to finality.

    You will most likely have to stay nimble and vigilant with your assets. A good idea would be to stay focused on your physical and mental health.

  • silverguru

    I have an interview with Willie from 2008 on the Shiela Zalinsky show (yes, before the fireworks) where he’s saying basically the same story. So we’re talking 6 years now and Silver’s the exact same price as it was then. This dollar collapse and Silver to the moon theme’s getting played out. Can someone please explain why .gov would steal 401k’s and pensions when the Fed can print all the money they wish? Why would .gov want to own mining shares? If Gold is so important why are they letting Joe six pack load the boat? Why after six years of wrong calls do people still hang on this guys every word? OK, no need for answers just let the Troll comments fly..

    • silverguru

      Sry, I’m just bitter that I didn’t sell my PM’s in 2010 and load the boat with stocks like Wall Street did. No worries, I’ll know better next time…

    • Sam

      “silverguru” you have things upside down and backwards and it is no wonder why you use David Morgan’s nickname who is actually a silverguru.

      Depart exposed TROLL!

      • silverguru

        I’m will aware by now that you would rather hear fairy tales than facts but the FACT is, you simply could have listened to Yahoo Finance instead of “Jim Willie” in 2008-09 and your stack would be at least 3x bigger than it is now. Don’t get me wrong, I think Silver’s a great buy here. All I’m saying is that these PM “experts” have yet to help any of us average Joe’s. But FACTS be damned when you make your living selling fairy tales and newsletters. No worries, I’m not coming back as I have proven my point.

        • Jeff

          Silverguru you are correct about the price and how you would have been better off selling in 2008 and buying stocks and that yes, yahoo would have steered you in a better direction than JW. You are correct about all these things. And since those same two sources are STILL saying the same thing I wonder, will you sell all your sliver and go “all in” the stock market now? If you don’t you are a hypocrate and a troll. If you do would you please come back here in another 5 years time and let us all know how you made out?

  • JX

    Why would **anyone** do their banking with the big banks, such as JP Morgue??? Go to a A+++ ranked SMALL bank, or credit union!

    • Scott

      I agree. Who are these morons that patronize Bank of America….or any other behemoth bank. They don’t give a fuck about you, only the fees they collect from you. I have never nor will I ever use any big bank so I don’t understand that mentality. Government school educated I guess.

    • Ed_B

      EXACTLY! But, there are a lot of people out there who are completely unaware of all of the shenanigans that the big NY banks have pulled over the years and who get good service from their local branch, so continue to do business with them.

      I serve as the family financial adviser and even manage investing accounts for some of my relatives. Given that and nearly 40 years of stock market experience, one would think that my step-dad and mom would actually listen to my advice regarding not doing business with these charlatans. But they still do, refusing to see these banksters for who and what they truly are.

      I am a BIG believer in small local banks and CUs and even S&Ls that do local business, live in their community, and give their customers good service because they actually know them and their community. In spite of all my warnings, they still keep a substantial amount of money in JPMC and B of A. Yes, this is their money and they can do as they wish with it but it is painful to watch a train-wreck in progress, know that it is happening, and not being believed about the danger that these banks pose to their wealth by those who are old enough to know better and who should know better. Better yet will be once the S has HTF will be the recriminations about, “Why didn’t you warn us about this?”… after several months of doing just that. :-/

      Normalcy bias really IS a tough opponent. It will not be until they lose a chunk of money to a bail-in or some other arranged financial catastrophe that they finally understand that the S is about to Hit The Fan and when, not if, it does it will do great financial damage to a lot of people who are unprepared for it.

  • Scott

    I’ve actually enjoyed listening to JW over the years, although he is getting a bit long in the tooth. He’s articulate and has a good radio presence so he is enjoyable to listen to in the background while cleaning your 357 magnum after a day at the range! The newsletter pushers are all eventually correct on many fronts… just may be a while. Even a busted clock is right twice a day. Once they finally have a “good” call on something they can sell that for years to come. As long as you realize it and pick the nuggets out of what they say they offer a benefit. Far better than listening to MSNBC or Fox or any other MSM BS.

    • Ed_B

      Agreed, Scott, and the term “nuggets” is highly appropriate. We do need to do our own “due diligence” in regards to the huge amount of info that is on the Internet. A lot of it is complete BS, so having a good BS filter firmly in place is a good thing. But, there will always be those few nuggets of info that are truly worthwhile and it is for them that we all mine and pan. 🙂

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