Over the year's many of Willie's prognostications have transpired and many more were probably covered up by the Powerz.

In his May 20th Gold & Currency report he wrote:

"Political cover is necessary. The reality is that the Arabs suspect a gold event is coming soon over the time horizon, as they heed counsel. They also have the legitimate need to prepare for a new Gulf currency. Private word has come that the Arabs are following the paid counsel provided by the Germans. The Germans recently demanded all gold bullion held in US custodial accounts to be returned to Germany. Indications are clear, confirmed specifically by my source in the gold industry, that the Germans are orchestrating a gigantic squeeze on the US and London gold trading exchanges, the COMEX and LME. Those exchanges are overrun by naked shorts gone amok, tools for the corrupted syndicates. The Germans removed their COMEX gold. Here we have evidence that Arabs are removing theirs from the London Metals Exchange. A big event is coming that could fracture the COMEX, discredit it, and possibly result in lawsuits, criminal prosecution, and more. The immediate risk is that London might not have the gold bullion in sufficient quantity to return it, because they leased it and sold it. The practical effect of any big event is to shut down its paper operations, no longer serving any whatsoever of price discovery, and put an end to its price suppression illegal projects that have lasted for over 20 years. Expect a chain reaction of events, toward a climax. But, and a big but, there must be both follow through and others who follow suit."

And tonight this out of Germany:

As posted at Jesse's Cafe Americain

http://jessescrossroadscafe.blogspot...

Financial Times
Merkel mauls central banks
By Bertrand Benoit in Berlin and Ralph Atkins in Frankfurt
June 2 2009 17:25

Unconventional monetary policies being pursued by the world’s main central banks could aggravate rather than ease the economic crisis, Angela Merkel, Germany’s chancellor, suggested on Tuesday.

Her surprisingly strong attack on the US Federal Reserve, the Bank of England and the European Central Bank was remarkable coming from a leader who had so far scrupulously adhered to her country’s tradition of never commenting on monetary policy.

“What other central banks have been doing must be reversed. I am very sceptical about the extent of the Fed’s actions and the way the Bank of England has carved its own little line in Europe,” she told a conference in Berlin.

“Even the European Central Bank has somewhat bowed to international pressure with its purchase of covered bonds.”

She added: “We must return to independent and sensible monetary policies, otherwise we will be back to where we are now in 10 years’ time.”

Ms Merkel’s decision to ignore one of the cardinal rules of German politics – an unwritten ban on commenting on monetary policy out of respect for central bank independence – suggested Berlin is far more concerned about the ECB’s approach than has so far been apparent.

Meanwhile, Berlin is anxious that central banks will struggle to re-absorb the vast amount of liquidity they are pouring into the markets and fears the long-term inflationary potential of hyper-loose monetary policies.

The ECB’s efforts have been focused on pumping unlimited liquidity into the eurozone banking system for increasingly long periods. But last month, it followed the US Federal Reserve and Bank of England in announcing an an asset purchase programme to help a return to more normal market conditions.

The ECB announced it had agreed in principle to buy €60bn in “covered bonds”, which are issued by banks and backed by public-sector loans or mortgages. The purchases were only agreed after extensive discussions within the 22-strong ECB governing council. According to one version of May’s meeting, the council had discussed a €125bn asset purchase programme that would also have included other private sector assets, but only the purchase of covered bonds was agreed....