“The Big US Banks have begun to announce capital controls. It started with JPMorguen on client accounts, limiting their withdrawals and limiting wire transfer activity. The practice has recently spread to other big banks, following in the JPM lead. Shadow banking has come to the fore to show its ugly head. Clearly, such a capital control policy would not be necessary if the big banks had sufficient capital and sufficient liquidity. They have neither.” Jim Willie
All the signals point to the same conclusion. The system is breaking down. The towers are falling. The paper mache structures have withered. The derivative machinery has been jammed. The confidence in the paper based system has vaporized. Nobody can foretell when the new system will arrive, but its description can be offered in rough terms.
http://www.veteranstoday.com/2013/11/02/game-over-dollar-dead-gold-7000/?utm_source=rss&utm_medium=rss&utm_campaign=game-over-dollar-dead-gold-7000
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