Excerpts from Jim Willie's (The Hat Tirck Letter) latest.

"WHAT TO DO?
Without proper warning, the US public is aligned to lose life savings. Home equity, pension funds, and savings accounts are all being decimated, as shock has resulted. The masses of people are vulnerable to deception, ruses, and false messages. They need to heed accurate siren warnings, to depart from paper based investments, to shed US$-based securities assets of all kinds, and to fully embrace gold & silver physical investments. Shun also the often fraud-ridden Exchange Traded Funds like GLD (for gold) and SLV (for silver) which are managed by the same gold cartel financial firms, laced with collusion, in violation of prospectuses, denied of disclosure, replete with naked shorting of precious metals, and probably funding gold & silver suppression projects. My full expectation is that at a future date, both GLD and SLV will shut down under tremendous controversy and probably be subjected to fraud charges. Both will be forced to liquidate funds, pay out artificially low flimsy paper prices, and admit they have far less gold & silver in their vaults than advertised, but far more paper certificates in their place. Perhaps such an explosive event will occur in late 2010, my best guess, or perhaps in 2011.

Dates on the calendar are far more difficult than event schedules. The discredit of GLD and SLV will come after the COMEX is smashed, defaulted, prosecuted, and shut down. If you believe that is impossible, then bear in mind that both the Germans and Persian Gulf states have demanded the return of all gold bullion held in the United States and London. Pressure is on the Commodity Exchanges in New York and Chicago (COMEX) and the London Metal Exchange (LME). They are fast losing their physical metal, and are loaded to the gills with illegal short contracts that grossly lack collateral. We have defaults in the making, surely overdue, but clearly slow in coming.

GOLD WILL REACH $3000 BEFORE THIS CHAPTER OF US HISTORY IS FULLY WRITTEN. SILVER WILL REACH $100 BEFORE THE LAST CHAPTER IS WRITTEN. These are easy targets. A tipping point comes just over the horizon, and the Hat Trick Letter is prepared to identify it. A massive spillover is due soon, from the money printing coffers into the streets where they people live and work and shop. When they finally receive the so-called money, it will be worth less than before, and might be worthless altogether. We are witnessing the heart attacks and seizures to the banks, the ambulances for the people, the weeds for the businesses, and the alzheimers for the press, as Pied Pipers run rampant and the USGovt vacillates between touches of fascism and communism. Sit back and watch, because we are in for a wild ride on the Weimar roller coaster. Not one in a thousand Americans even knows what that means. Try to avoid being a lamb at the slaughterhouse.

Permit a barrage of economic statistics without slant and bias, just statistics that fail to nourish any Field of Dreams depicted by the errant leaders of today, or their imaginary green shoots. They are sickening in their breadth and depth. A depression is taking root, tragically. Leaders are unable to come to grips with the reality that they have produced through serial bubbles, pursuit of low-cost labor solutions in Asia, unspeakable fraud from pockets of missing trillion$ in primary pantlegs (Wall Street, Fannie Mae, Pentagon, failed USTreasurys). The nation grew dependent upon the construction of elaborate weak financial latticework structures for risk pricing and offloading laced with fraud and collusion. Now they are charred ruins.