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Here is another sign from January 15 that I missed earlier. It is a sign of the bankruptcy of Rome, the iron kingdom, and its extension, the little horn. It is also significant that the bankruptcy was filed in Chicago, on account of spiritual warfare against Babylon that has been done there for the past ten or twelve years. Chicago is a major mafia center and is an important stronghold of corrupt Babylonian monetary practice.
(Reuters) – The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday in Chicago to cut $10 billion of debt, but a Delaware judge intervened to halt the case before it got started….
Kenneth Pasquale, an attorney for holders of bank debt who oppose Caesars’ debt plan, said he thought the company filed in Chicago because the case law in that court was more favorable for giving a legal shield to non-parties.
I take this as a sign that we won the war. When we link this to the other events that took place on the same date, the picture becomes clearer.
The Ambassador for the Red Dragon family (Chinese elders) stated that the Swiss move to de-peg the franc from the euro was part of the plan by the Chinese elders. Last summer, they had told the world through IMF chairperson, Christine Lagarde, that if the US Congress did not ratify the 2010 IMF reforms by the first of the year, they would seek alternative steps. That’s diplomatic speech for, “we will do it without you.”
There is no doubt that Russian president Putin knew ahead of time what was going to happen as well, because he cut off gas supplies to Ukraine (and 6 European nations) on the same date. The one-two punch may prove to be a knock-out punch, not only for the euro but later for the US dollar.
They are still counting up the losses on their derivatives exposure. At least 20 financial institutions became insolvent within a half hour on January 15.
The oil companies are already in serious trouble because of the tumbling price of oil. Financial institutions are losing a lot of money on oil derivatives, and Dr. Jim Willie says that in a period of just 5 weeks (from November 26 to January 2), 64% of oil rigs in Canada were shut down. I do not know how much of the shale oil “fracking” rigs are being shut down in North Dakota, but the oil industry has suddenly gone from boom to bust, as so often happens.
When the big banks were bailed out in 2008 and 2009, they did not use that money to generate more loans to businesses. Instead, they used it to shore up their balance sheets and to speculate in the casino banking business (“derivatives”). This is why that money did not trickle down to main street, but remained in Wall Street. It is why the so-called “recovery” has been so tepid.
The low oil prices now serve to save money among those on main street, and the net effect is that a bit more money has trickled down from Wall Street. But at the same time Wall Street is in trouble, although so far they have been saved by the government manipulations of the economy and by the Federal Reserve’s huge purchases on the stock market that keeps stock prices so high. I recall the testimony from the Fed Chairman in the late 1970’s admitting that the Fed buys and sells more than $1 Trillion worth of stocks every day. That was 35 years ago. How much do they buy and sell today?
The Swiss move on January 15 is already pushing up the price of silver and gold. It is being reported that financial institutions and hedge fund managers have now lost trust in the word of central bankers. They feel betrayed. Welcome to the feast of Passover, Mr. Moneybags. You should have known that Passover always has a Judas element in it.
Normally, when the dollar is stronger, the price of gold and silver declines, because it takes less dollars to buy it. That is what has happened in the past year. But in the past week prices have increased even while the dollar has continued to move higher. Of course, it now takes a whole lot more euros to buy gold or silver.
It appears that China and Russia both made their moves on January 15, and this may indicate that they have reached the end of their gold buying spree. They wanted to keep the price low while they were stocking up on gold. But now that most stockpiles of gold in the West have been depleted, it is time to allow gold to rise in price. It will probably double overnight when China and Russia finally announce just how much gold they really have in their warehouses. The financial houses will be shocked when they finally realize that the official figures had been grossly understated, and that the US government itself has overstated (lied about) its own stockpile.
Dr. Jim Willie states outright that the Global Currency Reset is a misnomer. He says it should be called “a return to the gold standard.” The age of fiat money is nearly over. This is the essence of the currency war that has been going on for over a decade. The abuse of printing press money is being corrected. Sovereign bankruptcies lie ahead.