Image Source: Republic of Korea / Flickr


Most people in the English-speaking parts of the world missed Putin’s speech at the Valdai conference in Sochi a few days ago, and, chances are, those of you who have heard of the speech didn’t get a chance to read it, and missed its importance. (For your convenience, I am pasting in the full transcript of his speech below.) Western media did their best to ignore it or to twist its meaning. Regardless of what you think or don’t think of Putin (like the sun and the moon, he does not exist for you to cultivate an opinion) this is probably the most important political speech since Churchill’s “Iron Curtain” speech of March 5, 1946.

In this speech, Putin abruptly changed the rules of the game. Previously, the game of international politics was played as follows: politicians made public pronouncements, for the sake of maintaining a pleasant fiction of national sovereignty, but they were strictly for show and had nothing to do with the substance of international politics; in the meantime, they engaged in secret back-room negotiations, in which the actual deals were hammered out. Previously, Putin tried to play this game, expecting only that Russia be treated as an equal. But these hopes have been dashed, and at this conference he declared the game to be over, explicitly violating Western taboo by speaking directly to the people over the heads of elite clans and political leaders.

The Russian blogger chipstone summarized the most salient points from Putin speech as follows:
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Perpetual Assets interviews Jim Willie editor of The Hat Trick Letter on Golden Jackass.com

“We are a raped and pillaged nation exploited and colonized with hidden control strings and deep cables. The only way to get out of it is to go back to a gold standard.” – J.W.

Join our hour plus discussion about toxic versus honest infrastructure. Jim rattles off a list of current news headlines that set the stage for our current world. We discuss at length many topics in Jim’s recent article, QE Failure & Folly of Paper Mache. The US is heading fast towards complete global isolationism. The SDR is an unlikely solution to the collapsing petro dollar. Jim believes the BRICS currency/ metals fund will be the final winner.

Derivatives have been hidden in plain site. Jim believes there are potentially 100s of Billions of dollars a month in derivative monetization, going on for years now. US debt ceiling raise indicates a default, potentially with the involvement of China, which now owns a nice chunk of Manhattan, including a stake in the US Federal Reserve.
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By Jim Willie, GoldenJackass.com

***Come back Friday 10/24 for an exclusive interview with Jim Willie covering this article in depth***

Via Goldseek

The Quantitative Easing initiatives have been declared as stimulus and successful in sustaining the US financial system. While having been able to continue the debt floats, the many market props, providing coverage for USGovt debt securities and mortgage backed securities which nobody wants, the initiative is hardly stimulus. The hyper monetary inflation does what we always learned it did, as in from school for 50 years, dole out its powerful corrosive effect. The inflation lifts the cost structure, leads to elimination of profit margins, and forces businesses to shut down, thus taking equipment out of service. The Jackass prefers to call the QE effect as killing capital, forcing retired capital, putting equipment on mothballs, often liquidated. Neither the USFed nor the Wall Street partners ever refer to the capital destruction effect, because it contradicts their stimulus argument and false message. Theirs is pure propaganda in keeping with the urgent directive to save the banks that are too big to fail. These are the financial crime centers of America.

Many are the interventions taken. Let us peruse the different types, while finishing with the Gold market. The paper mache solutions can continue in a seemingly endless manner, but not in the Gold market. The intervention and suppression in the Gold market is finite. It requires Gold bullion, the physical ingot bars, in order to execute the perpetuated interference and alteration to this financial niche market. The undermine is finite, and it is coming to an end. As the major conflict between East and West is played out between Russia and the United States, bear in mind an important contrast. The Russians have the vast network of natural gas pipelines, which are being fought over in Ukraine. The pipelines supply energy to the many economies, both industry and households. The United States has a vast network of toxic flow in contaminated money, evident in the USTreasury Bond market, the FOREX currency market, and the banking systems. The pipeline for tainted funds contains channels, windows, tubes, side entries, plumbing, and levers just like a giant chemical plant. The trouble is that the US network of liquidity is toxic and leads to destroyed capital and economic ruin. The US will not win this battle. It will earn isolation even from its allies. The US is to become a pariah nation.
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Perpetual Assets welcomes Rob Kirby proprietor of www.KirbyAnalytics.com. Hang on tight for this one as Mr Kirby is on Fire!

We discuss the very strange occurrences in the bond market last week. Once the equity markets started to collapse last Tuesday, the 10 year bond yield moved from 2.20 to 1.85 intraday. Mr. Kirby has not seen such a move in his 35 years experience. He discusses this blatant manipulation and how and why the operators did it: something caused great panic last week. The operators desperately wanted to make the dollar look strong.

Mr. Kirby breaks down exactly how the banks setup and front run bond market manipulation in conjunction with the US Treasury. The US Treasury not only caused the Libor scandal, they engineered it. He also clarifies the relationship between T Bill interest rates and Libor rates.

These are financial crimes against humanity. Mr. Kirby tells his end game scenario and it is all about the physical. He discloses some major near failures to deliver recently that were fraudulently covered up. Physical metal commitments are already failing. All it takes is the right buyer refusing the bribe and demanding the physical.


Some people in our community have wondered exactly whose side Jim Rickards is on. Many have recently argued he is nothing more than a mouthpiece for the globalists. Perhaps we should question anyone who is purporting that an SDR currency could be the solution. That is the solution for the globalist thieves. Meet the new boss, same as the old boss. Mr. Rickards was interviewed by Greg Hunter recently. The below are comments from our friend Jim Willie, whom we believe to be one of the best sources of information that doesn’t work for the parasitic cartel of banking thieves. Jim Willie’s work can be found at GoldenJackass.com

First we give you the interview with commentary and Dr. Willie’s rebuttals below

Jackass review with critique interspersed
The Chinese are hedging against not only the USDollar risk inherent to their vast reserves, but the entire global USD-based financial structure.
/ jw

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From Peak Prosperity:

Beware of ‘financial repression’

Recently, an article by Daniel Amerman caught our attention. Titled Is There A “Back Door” Method For The Government To Pay Down The Federal Debt Using Private Savings?, it details the process known as financial repression, where sovereign debts are slowly paid off by syphoning private savings from an unaware populace.

In this week’s podcast, Chris discusses the mechanics of the process, as well as its probability, with Dan:

To understand financial repression, we have to understand that we’ve been there before. Many nations have gone through periods in the past where they’ve had very high levels of government debt. And there are four traditional ways of dealing with that.

One of them is austerity. Everyone understands that. You raise the tax rates. You lower the government spending. This is a painful choice. It can last for decades. And what do you think the voters think about that?

There is another option and this we can call this the Argentina option. And that’s defaulting on government debts. It’s radical. Everybody understands it. How do the voters feel about it?

There is a third option is rapidly destroying the value of currency. Creating high rates of inflation that very quickly wipe out the true value of a national debt. But that also wipes out the true value of everyone else’s savings and salaries and so forth. It is such an obvious process you can’t really hide it. So how do the voters feel about that?
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From Acting Man

Derivatives “Stays” – The Next Step in Corralling Investor Funds

We previously discussed the debate over the introduction of new rules that would allow money market funds to stop withdrawals – see “Redemption Gates for Money Market Funds” for details. This debate followed on the heels of similar proposals being made for bond funds. These regulations aim to “forestall panics” by preventing investors from withdrawing their funds from wobbly looking entities in the event of another financial crisis.

We personally believe that there can hardly be a better argument for holding physical gold outside of the system, but apart from that such rules are obviously weakening property rights.

Now another set of similar regulation is about to be introduced, in this case concerning derivatives:

“The $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to help regulators to wind down failed banks without destabilizing markets. The International Swaps and Derivatives Association (ISDA) and 18 major banks that dominate the market will now allow financial watchdogs to apply temporary stays to prevent a rush to close derivatives contracts if a bank runs into trouble, the ISDA said on Saturday.
A delay would give regulators time to ensure that critical parts of a bank, such as customer accounts, continue smoothly while the rest is wound down or sold off in an orderly way.
That would help to avoid the type of market chaos sparked by the collapse of Lehman Brothers in 2008 and also end the problem of banks being considered too big to fail.
The Financial Stability Board (FSB), a regulatory task force for the Group of 20 economies (G20), had asked the ISDA to make the changes with the aim of ending the too-big-to-fail scenario in which banks are propped up with taxpayer money to avoid market disruption.
Under the new contract terms, default clauses in derivatives contracts such as interest rate or credit default swaps would be suspended for a maximum of 48 hours.”

(emphasis added)
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These are very important words for us to all remember. Written by a very good friend of Perpetual Assets…

From Totally St. Augustine


Associate Pastor, Memorial Presbyterian Church

Walking with people through the stages of life is one of the greatest assets of my vocation. I have learned a lot from watching people live—and die. I have learned that there are some ways of living and dying that are better than other ways of living and dying. By “better” I mean more full of meaning and zest. I once did a funeral for a woman who died immediately following retirement. She retired early because in 35 years she had never once taken vacation. She accrued sick leave and personal leave while her friends took trips to the Grand Canyon and Paris. The woman was very proud to retire early. Her 401K was strong and she even had a pension. The retirement party was grand and all her co-workers were jealous. “You’re set”, they said. “You’ve got it made,” said another, to which the woman replied “Now I will travel and go see the grandkids. I will finally reconcile with my son.” One week after retiring the woman and her husband made up their minds to build their dream home. Her life looked wide-open. Anything seemed possible. The woman felt free and finally ready to live the life that she had only dared to imagine. She planned to seize retirement by the horns. Two months after retiring early, just as the woman and her husband bought tickets for a Baltic cruise, the woman came down with a cold, or what she thought was a cold. The cold didn’t go away. She saw her internist who ran some tests. Six weeks later the woman died. The moral of this story, which is based on actual events, is: don’t put life on hold. Do not live as if you are guaranteed another twenty years, or even another two years. Plan for the future but don’t live for the future—because you may not actually get to live the future you imagine.

No one is promised tomorrow. We all know this. But rarely do I meet people who live this way. If you need to reconcile with someone, do it today. If you want to see the Grand Canyon, and you have the money, make your plans. If you dream of building a home and you have the resources, call the architect.

As a man who has done more funerals than he can count, I can safely make you a promise: one day, maybe in five years or maybe in five weeks, you will die. And while death is not something to fear, for God’s arms will enfold you, dying with unfulfilled dreams is often the greatest regret of the dying.

Remember this and speak it to everyone you know: life is not a dress rehearsal.


Hunter Camp is the associate pastor at Memorial Presbyterian Church (USA) in St. Augustine, FL. Email him at hcamp@memorialpcusa.org