Editorial
Steps You Can Take to Protect Yourself from "Hurricane Reality"
Last week I discussed the nature of the "time taxers" and how easy it is for people to blindly be lulled into living their life in service of the State – or those who control it. And in that editorial I suggested that time, being the most precious commodity of all, is ours and ours alone to spend as we individually see fit – but that it takes knowledge of the world around us to separate the wheat from the chaff, so to speak.
Having said that, this week's editorial will deal with some personal ideas and beliefs with respect to how people can protect their wealth amidst a global decline in confidence in fiat currencies – one that is justly going to propel the downward trajectory of them all and none more rapidly than the US dollar.
Now it has been said many times before that knowledge is power. And certainly that is true. However, I would argue that it is a certain type of knowledge – free-market thinking in its purest form – that enables one to perform a macro assessment of the world around them and to adequately predict the likely impact of major geopolitical actions and events on the overall business cycle. It involves assessing the dominant social themes being spun by the parasites who desire to siphon off the productivity of others by promoting the masses on an array of solutions to their manufactured fear-based problems. It involves a realistic assessment as to whether the larger segment of the population that tend to "dream" rather "think" will hand over their wealth and savings to the "dream weavers."
Yet far too often I find people getting lost in that assessement process as they get stuck looking at individual trees in the hope of making a quick trade and they forget about the big forest. And the key to making good life decisions is to gauge the likely impact of the rhetoric that filters through the mainstream media airwaves and the likely emotional responses of the non-thinkers.
Now, I know that there are many people who "trade the market" and fashion themselves as market timers. And some, purportedly, are quite good at it. But protecting one's wealth and investing in front of major trends is what this article is about – not identifying short term market swings. I'll leave that up to the vast number of commentators and newsletter writers who are apparently much better at that than I.
Let's take a look at some larger impacting issues of the past week and how they may affect the greatest financial trend of the past 100 years – the demise of the US dollar.
First, the debt ceiling was raised by $2.1 trillion with NO meaningful spending cuts at all.
Did anyone really think this wouldn't happen? We have said all along that the US dollar itself is the root of the US debt problem, along with public complacency. Until the cancer is addressed you can expect the disease to spread. The people of the United States have sold short their liberties and freedoms by allowing Money Power to take control of their currency (via the Federal Reserve), their government (ever since the American Civil War), their public schools, their mainstream media, and even their entertainment needs. Americans are addicted to a caretaker society – one that sounds nice on paper, but in reality is incapable of honoring all of its debt-based obligations.
This issue has been commented on extensively over the course of this past week by myself and several other commentators here at the DB. So suffice to say, the US dollar was not saved from a default. The process of ongoing devaluation has just been continued and there is no desire by the elected representatives (go figure) of the American people to address the currency/central banking problem. The dollar's purchasing power will continue to trend down, ushering in an era of inevitable social chaos.
Next, we have sovereign debt concerns spiking in Europe. Many mainstream commentators refer to it as a "contagion that has spread" from the fallout of the US debt ceiling debates. Really? Is that what happens? Hmm, well we have a slightly different take on that and believe and wonder what exactly it is that has "spread."
To simply say that the concern has spread is to ignore the real underlying causes for concern. And it all comes down to truth and understanding.
A lie is a lie. Fraud is fraud. And a PONZI scheme is just a combination of lies and fraud that is somehow believed by enough people to maintain the illusion of its credibility. The euro is just another fiat currency that only maintains its purchasing power as long as the true nature of money is not understood by the population who are expected to slave away their time.
The reason the soverign debt issues in Europe will not go away is the same reason that the US economy's woes cannot be fixed – because alternative media is opening people's eyes to the nature of the world's central bank controlled money game – and they do not like what they see. People are losing confidence as the Internet Reformation rolls onward and, as their confidence wanes, they are starting to panic.
The success of Money Power in maintaining the fiat-money game is predicated on maintaining people's confidence. It simply must be maintained in order to support an ever-increasing demand for debt.
The US dollar debt-ceiling debate, as I stated in an RT interview on Monday (You can watch it here), hopefully has opened more people's eyes to the nature of the problem. From there it is up to each person to employ human action and take the necessary steps to get out of harm's way. We'll look at how in a moment.
Lastly, late Friday afternoon, S&P downgraded US debt from a AAA rating to AA+. Big surprise? Not here folks. I will repeat what I said in that same RT interview I referred to above when questioned about the possibility of a downgrade of US debt.
Basically, the US debt system is a PONZI scheme that should have been downgraded long ago. The use of the term "risk-free" to brand US debt is a complete misuse of the term and for most free-market thinkers, the need to hear a mainstream rating agency say so is irrelevant.
I mean think about it for a second. If you are making sensible adjustments in your life to protect your wealth from a process of devaluation that steals your life's productivity from you, do you really care what a mainstream rating agency that's designed to protect the system's integrity has to say?
The bottom line is this – S&P, Moody's, Fitch et al., are all going to lag the real market – the one that has gold up some 50% in purchasing power in the last three ears alone against the US dollar. Their prognostications will always lag because they are not in the business of telling the truth. If they were, where were they right up until the 11th hour of the Enron collapse? How about the CDS market collapse... where were they in advance of that one?
Personally, I believe their pronouncement is far too little and far too late. If they want to give people some real indication of the worthiness of US debt, they should just come out and call it like it is: a rapidly devaluing debt system that is built on an unrestrained currency unit – the US dollar – whose purchasing power will be inflated/eroded into oblivion, along with the wealth and savings of America's middle class. It is a system that is built on false hope and empty promises. It is a PONZI scheme that cannot sustain the headwinds of truth that are preceding the worst financial hurricane to ever hit the world's population – we'll name it "Hurricane Reality."
There are things people can do to protect themselves from this inevitabilty and position themselves for the fallout phase of this catastrophe. Here I am referring to individual steps a person can take, not collective action.
The first thing is to transfer out of US dollars and into gold and silver. Both I believe are essential. The value of gold, historically, has proven to be an ideal way of protecting wealth and facilitating large investments and purchases, while silver has often played the role of the people's money – better suited to facilitating smaller purchases.
Either way, it is important that people hold as much of their wealth and savings in these instruments, in my opinion. Having said that, daily commerce is still transacted in fiat money, although alternatives such as James Turk's GoldMoney are gaining in popularity. But a realistic balance needs to be struck between savings that can be comfortably transferred out of harm's way and that which is needed to meet life's current and short-term needs in the greater mainstream market place – something GoldMoney has yet to replace (although we wish it luck!).
The trend for both gold and silver is higher, in terms of purchasing power measured against ALL fiat currencies. So converting into any other currency at this time is not seeking asset protection and is more in tune with speculation. Euros, Swiss francs, Japanese yen, Canadian dollars – they are all leveraged to the US dollar and none of them offer the kind of purchasing power protection afforded by gold.
If you decide to transfer into honest money, consider only buying physical metal and taking delivery. By taking delivery I do not necessarily mean you need to bring all of it to your home and shove it under your mattress. Clearly, when Hurricane Reality lands there will be a lot of social chaos and crime. This will undoubtedly make markers of those known to hold precious metals. Therefore, keeping quiet about your holdings is prudent, but also diversifying the storage of the metals is, too.
When I refer to "make markers" of those holding gold and silver, I am not necessarily referring to your neighbors, although that is a consideration too, but I am mostly referring to your government's ability to use propaganda and force in an attempt to nationalize gold as a monetary instrument – history repeats? The last time that happened was in 1933, and it stayed that way for four decades. Do you really think the US government wouldn't try this again in the midst of a collapse in confidence?
The truth is, who knows? But better to be prepared than not. I suggest people maintain a balance of gold and silver bullion that's locally accessible and another holding of gold that is secured outside of America's shores. Here I recommend my friend Frank Suess and his team at BFI Capital Group. Their Global Gold Program is the best offshore alternative I know of at this time for the simple acquisition and storage of gold.
Now I know there are many who are quick to draw their guns on this one and suggest that gold away is no different than gold at home. I disagree on that. Force is much easier applied to the seizure of your wealth domestically than if held abroad. For one thing, assuming you own physical gold and stored it in a private Swiss vault, the US authorities will have a very difficult time getting their hands on that gold – unless you cave in to domestic pressure and request its repatriation. Remember, there is nothing illegal about buying and storing physical gold abroad. If you want to know more about Frank's program, click here.
This leads into another life-planning idea that we believe makes sense – and not just for Americans. Consider that when Hurricane Reality hits America's shores, that the area in which you live may not look quite the same for an extended period of time. Consider that irrationality will rule, as Gustave Le Bon's adequately described "Crowd Mentality" takes hold of the disgruntled masses. Think about that for a moment and you may decide that, to whatever degree you can afford it, you may want to consider getting a "hip pocket" residency.
Here again I expect swords of patriotism to be drawn. Understandably so. Who wants to leave their home unnecessarily and all because the money magicians have raped the country of its wealth? The answer is no one. But there are times throughout history when prudence overrules pride in the name of safely securing you and your family. And a second residency can also serve as a form of asset diversification.
When the chips are down and the world around you becomes inhospitable, as the Internet Reformation and the resulting financial hurricane are wiping out the fallacious pillars on which Western economies and societies have been constructed, you may wish you had another option.
Is there any perfect place? No. But there are low-cost alternatives that may provide a more secure place to hang one's hat during a chaotic period that's probably best avoided. The key is to find a place that suits your living standards and needs. It may not be perfect, but it may sure feel that way if you need it in the future while the grim reality of authoritarianism morphing into totalitarianism takes hold.
Personally, I have yet to find that place, but I am searching and have narrowed it down to a few locations. For me and my family, I seek a location that is relatively self-sufficient with respect to providing the basic needs of life. I seek locations that are off the beaten track but have good schools and infrastructure. Places that, once explored, reveal themselves to be enjoyable locations to vacation and spend occasional time – so that if it is never needed for protection purposes, it is not a total waste of money.
Having a portion of one's wealth stored overseas enables a person to make a personal move – assuming a secondary residence has been established – so that if unfair pressure is brought to bear domestically, action can be taken. Without preparation in advance, such action may not be a possibility when a person needs it most.
Many will argue that this type of planning is only for the wealthy. And yes, one must have some degree of wealth. But it is surprising how far a buck can go in some of the locations I have visited and am considering for such secondary residency purposes. So this type of planning is not only for the ultra wealthy by any stretch of the imagination.
On another note, I am often asked by people what they can do to profit from gold and silver's "rising trend." Usually they wonder about owning mining stocks as a means of owning gold.
Transferring out of paper money and into gold and silver should be viewed as asset protection. Buying shares of mining companies is nothing of the sort – especially exploration companies.
Over the past several years we have seen impressive gains in the purchasing power of gold. Yet, mining companies, and here I am referring to those that actually produce gold, have seen relatively little impact on their shares when viewed on a comparative basis with the price move of gold. Why is that you may ask?
I believe that, just as the Internet exposes the truth about the dishonest and fraudulent nature of our monetary systems, the 'Net is also exposing the fallacy of "corporations" and their "individual nature." People are waking up to the reality that a corporate structure is a facilitating vehicle for the transference of wealth more so than the creation of it. And they do not like what they see.
Corporations are not individuals and as long as they shield the liability of those who control them from their actions, we will have stock markets riddled with fraud and corruption. Mining companies are no different than any other corporations. It is very hard to find quality people who are truly concerned about building value for their shareholders. But to harp on about this would require another editorial specifically devoted to the dissection of the corporate fallacy.
Having said that, there are discoveries that are made. And when they are, the share prices of junior explorers can really take off. That is what keeps people hunting for gold deposits and the explorers best positioned to find them. My advice is that if you are going to invest in junior explorers, you are better waiting until a discovery has been made and then buying. You'll pay more but face somewhat lower risks – unless the whole thing is a fraud, like Bre-X was in the 1990s. Just recognize that buying shares of exploration companies is not the same as owning gold and is pure speculation.
In summary, buying high-risk gold and silver stocks is not the same as buying physical gold and silver and has nothing to do with asset protection. Even the big producers aren't keeping pace and there are many risks that threaten to erode the value in the gold they produce too – most notably their tendency to sell their production for devaluing paper dollars. Why they don't anchor their shares in the value they produce rather than sell it is beyond me. Anyway, do not be fooled into thinking buying shares in mining companies is the same as buying gold. If you want to speculate in mining stocks, go ahead… but be fast on your feet. Recognize it for what it is – high risk speculation. Try to separate the wheat from the chaff.
Remember that in the dying days of the "Age of Promotion," everything as it used to be… may not be so tomorrow. When Hurricane Reality hits, all paper based "assets" will likely be illiquid and, as such, virtually worthless.
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Posted by cosmos on 08/10/11 11:11 AM
Can somebody tell me what the hell is wrong with Silver? Who put an anchor on Silver?
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Posted by injun1 on 08/09/11 07:19 PM
Hi Jordon, You are right. There is no reason for someone to deposit substantial cash holdings there. I have friends who have made large real estate purchases there, (land) but do not leave cash deposit there. Besides there still are areas that lack the infrastructure to get out if need be.
And that is the point. Any country can be settled with deposits as long as the infrastructure is there to move quickly if need be. Without it you can get caught flat footed in government interventions. That's why places like the U.S. and Europe are always discussed as offshore preferences.
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Posted by Fakundom on 08/08/11 12:52 PM
"has the region failed to significantly participate in the global credit expansion of the last 20 - 30 years and is it currently seen as "backward"? if so, good"
I'm from Rosario "The Argentine Chicago" and as far as I could tell the biggest cities in this country are all booming mostly due to higher prices in grains and other commodities. So probably this country is a time bomb ticking at the sound of the Fed, as it is BRICS's demand for what is produced here.
Maybe Patagonia and Cafayate in Salta will not be in the eye of the storm but as more wealthy people come here I think the the government will feel tempted to wait and catch them all when it is needed. I hope that isn't gonna happen but it is a possibility.
How can foreign investors feel easily confident in putting money here is something that I really wish to understand. (Plese help me understand!! what is your take?!)
Isn't it better Switzerland as the most stable country? Besides, in such a country aren't you surrounded mostly by civilized people?
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Posted by cat writer on 08/08/11 09:53 AM
I still do not understand what your point is.
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Posted by amanfromMars on 08/08/11 02:18 AM
That which we know to be true .... and freely available for smart use and/or sad abuse, cat writer.
As Man matures and gets smarter though, is abuse recognised as always being a road to nowhere and discovery and extreme prejudice executive and administrative pro-action, and thus will it never be attempted and creative use of what is known will be the default future human condition, which you might like to accept today, would be considered quite alien to Mankind. And that surely tells you, and all who are able to think, that humans are still very primitive despite all the toys and tools that machines have delivered to them to help them build and create something quite magical for themselves.
Now though, are they introduced to virtual means and memes of creation and governance, and a whole new way of accessing what the future provides and has in ITs Stores for Universal Presentations of Intelligent Product Placements, and thus can one expect things to be completely different from before, and thought quite natural because of it and what IT has in its stores for Mankind.
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Posted by amanfromMars on 08/08/11 01:41 AM
"The Dow to most people means absolutely nothing outside of media hysteria much like their knowledge of currencies. They have no clue and I see no change of that in the near future. Is there are possibility of global break down? I don't deny the possibility, but it seems highly unlikely." ..... Posted by injun1 on 08/07/11 01:10 AM
What of the very likely probability of virtual systems take over rather than global break down, injun1, with global break down guaranteed to systems which resist and/or deny their failed program status?
Would that be a SMARTer IntelAIgent Operating System for Postmodern Cyber Order Paradigms, full of inscrutable Eastern promise with leading Western technology leveraging assets exercising remote autonomous and relative anonymous control of novel CHAOS powers ...... and although they be somewhat artificial and/or alien in nature by virtue of the fact that they be securely protected with unbeakable key protocols clearly shared for all to see and use, is the force generated very real and most effective in the invisible application of intangible change ...... for a Quantum Leap deep into Virtual Machine Programming of Earthly Assets and Human Components.
Hyperreality via NEUKlearer HyperRadioProActive IT and AI @ ITs Work ... Click to view link ??? !!!
Do yourself and good and great friends a disservice and deny it is so, and not a Present Program currently running in competition with and in opposition to and in support of the past's failed and self-centred future projects that would build castles of sand upon the Dodgy Object Model of Empires.
Things are the way they are, not because they are said to be so, but because they are made to be so by those who would say that they are so and who are able to make them so with good and great friends with no enemies? Create conflicts and inequities and is everything always doomed to increasingly rapid failure.
And how very odd is it, that the fractional reserve fiat currency rigged markets system is collapsing to inevitable failure and that which the collapsing systems elite would do, is struggle to ensure it remains in its collapsed form with a compounding and intensification of problems with the further generation and credit/debit purchase of the very same type of toxic assets/catastrophic liabilities as now present to the world, Capital System Madness and Intelligence Meltdown.
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Posted by cat writer on 08/07/11 02:16 PM
Pray tell, what on Earth did you tell me?
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Posted by cat writer on 08/07/11 01:10 PM
I have no idea as to what type of war will occur, exactly when it will occur, and who the combatants would be. By the way, I am not the only one making this prediction; Marc "Dr Doom" Faber does likewise.
I also apply historical precedent.
I also apply psychology. How do you feel when betrayed and violated? I sense that you are aware of a whole range of actions you can take in response. However, not many people, especially in the United States, are responsible.
I will be quick and dirty with this call. Here are the options:
The United States will devolve into civil war. This will be a matter of karmic return. The disadvantage of a militarized society is the number of people with military experience and knowledge of these technologies. These technologies, including nuclear, will be employed within America's borders.
There was a time when having a significant criminal record kept one out of the Service. Now, gang members join the US Armed Forces for post-secondary, graduate, and continuing professional education. How much money and materiel have been stolen? The result is that the remnant will organize themselves into feudal society.
The high-tech we have will shorten process time from the order of years to decades to months-to-years. What comes to my mind is China, 1911-1949. In this case we should see devolution as a result and we hope that there is at least one area where freedom and liberty are respected.
Another scenario is a result of the ill-will Americans have generated, or allowed to have generated world-wide. I admit that a significant part of the resentment is pure envy. However, the lack of respect and narcissism from the United States angers many people. That anger is now repressed, but given an opportunity, there will be blowback. What comes to mind is the world War of the American Revolution: Britain versus The World.
This is not bad, as the old British order was swept away and the manufacturers, mechanics and merchants took over, ushering in a period of relative freedom and the start of the major part of the supercycle that just ended.
This is why it is important to organize ourselves to accomplish limited but crucial tasks. It is in our interest to do so.
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Posted by injun1 on 08/07/11 12:46 PM
Clark I agree. I think in terms of investing and probably should have been more specific. I don't have much use for an I-Phone/X-Box but hey, each his own.
I would like to expand on this subject more but I have to go cash in my 10 grams and pay for my new Bose computer speakers. (LOL) Hey each his own! Right?
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Posted by 4irw4y on 08/07/11 12:31 PM
"LOUD AND CLEAR... ...Operating Systems for Advanced IntelAIgents" @ amanfromMars 0807-0354 -
global stuff is a pleasure to discuss, is it not, amfM, but looks like it's only for those who haven't being invited for the professional gathering. Yesterday night was a nearly perfectly stormy for some husbands. Now it's Asia meeting the Sun, and look what they have got here now.
Well, it's just for now, and the dead end line might have been finished (-: already. Anyone for refinancing the world property and resources, with a tendency to re-privatisation? Mad enough, PP?
...Just something for old friends.
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Posted by clark on 08/07/11 11:24 AM
"The price of gold is too high for the little guy to invest in at current prices.."
I keep seeing a variation of this idea in numerous places online, I don't quite get it. A little wafer bar of gold can be had for the price of one or two tanks of gasoline, how is that out of reach for the little guy?
1 Gram CREDIT SUISSE Gold bar - Ingot PRICE :$77 USD.
Have all the little guys and girls stopped buying gold jewelry? While it isn't cheap compared to some things, it isn't unobtainable either.
The precious metal content value of a 5 gram 24k gold bar is worth $267.40 or about the price of an X-Box video game system or an I-Phone that so many People have.
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Posted by RF on 08/07/11 07:29 AM
by the way-- I do not condone the Western Civilization's behavior of late ,nor for the last 500 years- they have been busy at genocide around the globe- keeping the pretty white fences at home, unscathed, the financial fall will be a lesson in how not to live, granted- but it's sad, for all the advances we have made in the Industrial ages, medicine, intellect, education , that we are still our own worst enemy..
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Posted by RF on 08/07/11 06:57 AM
I am not fearful for myself-This is my home I choose to live or die here-- the human race will revert to lower levels ,so be it, it's sad. Allsemi auto weapons are designed to have a supply truck show up with cases of ammo-you can't carry enough to las a day at cycle rate of fire-pick something simpler..
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Posted by Dave Jr on 08/07/11 06:42 AM
Well, like my comment in part one of this article, I will not be going anywhere. This is not a survivalist website, so I won't go into that.
What I am interested in discussing is what will the nature of this hurricane be? Will it be a collapse of the government, the currency or both? In other words, does the US gov/military have a good enough contingency plan to pull through a currency collapse? And/Or will central banking and the UN types be able to garner support in a collapse of the government?
It seems that government is being set up to take the fall. Will the American people hold fast to the Constitution or will they gladly toss it out in exchange for a few emergency relief supplies from our world buddies?
I like your attitude best Injun1. Life will go on, and the worst of the worst case scenarios will only be temporary. Keeping your clothes on is much apprieciated.
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Posted by amanfromMars on 08/07/11 03:54 AM
Use the board and state your business, cat writer. What DB doesn't host will tell you what is unacceptable and of present concern to the Global Information Grid and Elite Robber Systems, and thus are you armed with fools' tools to crash test dummies with exploitable vulnerabilities.
"Bud Fox: How much is enough?
Gordon Gecko: It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.
Amanfrommars are you getting those smoke signals? (LOL) " ..... Posted by injun1 on 08/06/11 08:24 PM
LOUD AND CLEAR injun1. Control of perception is the Great Game is IT not, and that is a Novel Surreal Artphorm with Coded Intelligence Algorithms .... and worthy of Giger genus mindset appreciation, for it is undoubtedly of a complementary value in Magical Mystery Turing BetaTesting AI fields and the Live Operational Virtual Environments into Commanding Control of Cyber and Space Computer Communications with Virtual Operating Systems for Advanced IntelAIgents.
"We all tend to use pseudonyms." ..... Some would be using an anonym, acronym, antonym, cryptonym, eponym, homonym, metonym, paronym, retronym, seraphim, synonym, tautonym, toponym, cat writer, that would be an accurate reflection of their being. A Mr and Mrs John and Jane Doe type name for an address are just so anonymous and misleading in these changed days, with everything changed and leadership rearranged.
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Posted by Ralphus Lucius on 08/07/11 03:12 AM
Well said, Anthony. It is not with smug satisfaction that a few years ago I began purchasing physical precious metals and began looking for that hip pocket residence. Rather, it is with sadness that I witness a populace that has learned not to think, has let itself be conned, and will ultimately be victimized by the greatest Ponzi scheme in human history.
This afternoon I had a meeting with a few friends who approached me for an overview of our present malaise and for direction as to what they could do personally to safeguard their assets. These were all degreed, educated professionals. To my great astonishment, not one had any inkling of how the Federal Reserve was created, how it is structured, and what it has done. Yet they listened, asked questions, and begged for a bibliography to learn more. At least it is a start. Some are beginning to wake up. Fear in the room was palpable.
A couple of months ago in Greece, where I work part of the year, I had a similar meeting with yet another group of professionals, mostly engineers. Again - only a vague concept regarding the fraud of the EU. Again, the collective fear was overwhelming. Some of these have since been moved to action.
When the dust settles from this looming collapse, my vision is that the central banking cabal will have failed to enlarge its stranglehold. Rather, the West will retreat into smaller, free market, regionalized economic communities that will re-discover a new paradigm of local sustainability. Humans are tribal people, after all, and my guess is that the artifice of the great nation states of the 20th century may just one day be rendered an archaic relc that had a great many people enslaved. The "Galt's Gulch" model - really just a reflection of typical 19th century rural communities across the United States - will be repeated across the landscape as we re-discover our God-given right of true liberty. Too bad we have had to learn the hard way.
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Posted by John Danforth on 08/07/11 02:33 AM
"Nations, cultures, and locations where people know how to establish and maintain close personal relationships will be favored, and that will NOT include the United States."
Did someone insult you or something once? You show your pain from it every time you post.
As our favorite wise Injun says, the sun will rise tomorrow.
If the currency collapses on Monday, that will be the first step towards regaining our freedom. We are resourceful, industrious, and have networks of competent people we can rely on. We will get by just fine, you don't have to worry about us.
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Posted by injun1 on 08/07/11 01:10 AM
Interesting, I am not sure at this point and time who would be in an expected war. Russia is not in a position to attain war status at this time. Europe might possibly get caught in a domestic breakdown within it's own EU borders and China has major problems within the Southeast Asian communities. Not to mention a North Korean problem with an Indian neighbor that has one of the largest Nuclear equipped armies sitting on their border.
The Middle east could be a hot bed of flare ups but as we leave the area I assume we will lose whatever ground we took back. We are probably more equipped to fight a war then anyone else on the planet.(unfortunately) We are battle tested with new technologies.
The Dow to most people means absolutely nothing outside of media hysteria much like their knowledge of currencies. They have no clue and I see no change of that in the near future. Is there are possibility of global break down? I don't deny the possibility, but it seems highly unlikely.
Deflation/inflation is more likely but we will struggle through it. The price of gold is too high for the little guy to invest in at current prices and at these prices and higher he must purchase with leverage which will eventually bite him in the ass or hold what he bought years ago but most likely will be a seller at higher prices.
I agree with you as soon as America's game is over we should expect trouble. I just believe even if it happens we are a long, long way from that crisis. Our current problems are more of a concern to foreign countries than it is for us at this point. The dollar still is the world's reserve currency and that's not likely to change for at least a decade even if it is challenged. The U.S has always exported money and education that has not changed.
No I am not going to sell my metals tomorrow, or my close my trading accounts nor give my possessions to the guy standing on the corner. I am going back to work and continue my life without fear of the sun not rising. Besides, I figure if I am wrong, it's not really going to matter much, one way or the other how much gold or real estate or currencies I own. No tomorrow the sun will rise and I will go to work and try to help change things for the better, but live in a hysteric and fearful world? Bah hum bug!
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Posted by cat writer on 08/07/11 12:42 AM
Good stuff, sir!
Please refer to my other remarks about how this Greater/-est Depression is being concealed. The Elite may be in over their heads the longer this game lasts: when it is over, there will be many, many angry people. However, this Elite, their minions and nearly 300+ million clients most likely want that destruction. It amuses and excites them. It is entertainment.
I have read that taking delivery on futures contracts can be very difficult, especially with precious metals. There is much more 'money' in these contracts and their derivatives than goods in back of them. This is also a huge counterfeiting problem, like fiat money and naked short selling, that has resulted in deficits of about a quadrillion dollars.
The consequence of this biggest of all bank runs will be the end of trust. Nations, cultures, and locations where people know how to establish and maintain close personal relationships will be favored, and that will NOT include the United States.
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Posted by cat writer on 08/07/11 12:23 AM
FYI, Roosevelt's gold confiscation specifically exempted numismatic coins. One had to have had over five coins of the same date, mintmark and denomination to have been deemed a hoarder. In that time, very few people could have achieved that distinction.
What happened was typical: a promotion of owning any gold coins being illegal. So the sheeple of 1933 traded in their gold at face value for paper, with the USA then raising the paper price of gold by about 75%.
All Americans needed to do was to read the decree's text. Such a difficult task for these people to accomplish!
That is not to say that the current crowd would restrain themselves this time.
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