Following is a piece of Jim Willie's latest newsletter on gold. Gold futures right now are at $1060, having a small spike up $11. Seems $1060 is attempting to be defended by the Boyz. Yet you can smell it in the air, feel in your bones, that something is about to happen very soon, something wonderful, if you want to call US financial misery a good thing. Only for those that prepared.

Terry

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◄ A surge in the gold price cometh, perhaps imminently. In the next several weeks, the gold price might jump quickly to the $1500 level. A contact with excellent access to gold transaction information and developments has shared that the sharp price rise could come very soon "due to certain transactions that are being consummated at this very moment. Even if the Boyz try to hold own or depress the price, it will do them no good. The pressure that has been built up is uncontrollable. We shall see some big banks hit the wall very soon (weeks/months). The market will take over in very short order from here on forward." A phase has begun to remove illicit corrupt controls on the gold & silver market, from demand of physical bullion.

The same source told a story about events at the London Bullion Market Assn. That market is to London what the COMEX is to the United States, both deep in corruption and government interference, where grossly inadequate metal inventory exists to maintain their charades of markets, each dominated by paper pricing. They manage paper markets for syndicates in total illegal operations. Several large gold futures contract holders are demanding physical delivery in London. The LBMA does not have the metal in inventory. The officials have offered the futures contract holders cash plus 25% dividend for settlement without gold delivery. The contract holders refused. They want their fuchn gold (using a French term by the source, my unique palatable spelling)!!! There was very high volume involved in the contracts. The standoff is not settled. It could go to court. The London authorities are trying desperately to keep the story from hitting the press. It helps to have the syndicate in control of the press networks. The Bank of England and one other European member central bank are working feverishly to fill the contract order, but unfortunately they are using very old gold bars that are reportedly only 90% gold. That invites a new potential challenge.

The gold market could soon explode and possibly work toward a convergent fair market. My hint is that it is Germans and Swiss with other Europeans are working diligently and pointedly to kill off the US-UK bank nazis. A LBMA and COMEX bust and default is visible on the horizon. See the Jackass article entitled "Hitman Contracts to Bust Comex" (CLICK HERE) dated in May 27. It would include big bank ruin and legal prosecution. The same source hinted that the ruin of commodity exchanges could coincide with the bust of JPMorgan. So, based upon the London incident, gold has a real price of near $1300.