Remember the story of Paul
Revere?
He rode his horse through town
shouting that the British were coming? That is basically what the web sites
have been doing for about 20 years. But what did Paul do when the British
eventually arrived in the street? At that point there was no use shouting any
longer from his horse that the British were coming. Because at that point
they had arrived.
“…I alarmed almost every
House, till I got to Lexington.” …if a Man will risque his life in a Cause,
he must be a Friend to that cause…”
masshist.org/cabinet/april2002/reveretranscription.htm
So we too have been shouting
that the day of economic reckoning was on its way. Do we continue to shout
that it is on its way? It has already arrived.
So what is our next
responsible task? Where’s the bottom and where is the top? Seems
to be what everyone is wondering. Again, is this a recession or a depression?
Who knows? Recessions are bad and depressions are worse. Good as any answer.
And where does gold fit now into the picture?
“Our objective now: To chart
the expected path of gold prices in the New Year. This report also reveals
another wild card inflationary indicator that Hutchinson believes will carry
gold prices to $1,500 an ounce by the end of 2009.” “But Hutchinson –
who correctly predicted this last run-up in gold prices – says there’s
another catalyst that’s right now inherent in the U.S. economy that could
help vault gold prices to $1,500 an ounce by the end of 2009. And it has to
do with the much-ballyhooed $700 billion rescue plan.”
moneymorning.com/2008/12/24/gold-2009/
Why has the economy collapsed
so quickly? Good question. Deserves an answer. Trillions of
dollars of credit have disappeared out of the financial markets just in the
past twelve months alone. But do not worry about anarchy or civil
unrest. Fortunately, we have a new militia planned to keep public discord
under control.
Administration - “We cannot
continue to rely only on our military in order to achieve the national
security objectives that we’ve set. We’ve got to have a civilian national
security force that’s just as powerful, just as strong, just as
well-funded.” “What job will they do that the National Guard cannot? Who
will they answer to?” ”As Larry Correia says, "the very first thing that
popped into my head when he said that was the Brownshirts.”
crypticsubterranean.blogspot.com/2008/07/obamas-private-army.html
Wow! What does that
remind you of?
“In 1921 Adolf Hitler formed
his own private army called Sturm Abteilung (Storm Section).”
spartacus.schoolnet.co.uk/GERsa.htm
Excellent idea! We need
a new military force for the Executive Branch of government. As presidential
powers continue to grow their must be a military force capable of carrying
out the policies of the presidential administration.
“A group of brown shirts or
black shirts organized into an effective street-fighting force is now
absolutely necessary to resist the corruption in the government. This is what
Hitler did: the SA and, later, the SS.” godlikeproductions.com/forum1/message625155/pg1
I wonder what color of shirts
the new US fighting force will be? Blue is a lovely color. Brown is
just too, too bland. And what present unrest has already begun that is
eventually going to have to be kept under control? Believe it or not tent
cities are starting to show up across the nation. Just as in the
1930s.
“…Bruce Beavers never expected
to be homeless. He managed warehouses and hardware stores, had a 401(k) plan
and owned his home. But Beavers said he lived beyond his means and eventually
lost everything.” cnn.com/2009/LIVING/wayoflife/03/19/seattle.tent.city
Consider how these events
today are so distant of the events we witnessed just a mere 10 years ago. An entire
world turned on her side. And the people with it.
We are already beginning to
see tent cities sprouting up across the country to house our growing
population of homeless and those out of work. There are now tent cities
inhabited by unemployed and the foreclosed as reported in the media and
Oprah. Back in the depression, they were called 'Hoovervilles'. Are these
21st century versions worthy of the moniker 'Bushvilles'?”
archinect.com/forum/threads.php?id=86397_0_42_0_C
Is this for real? Happening in
2009? What happened to all those 401K plans that were going to make everyone
rich?
“Tent cities reminiscent of
the "Hoovervilles" of the Great Depression have been springing up
in cities across the United States - from Reno in Nevada to Tampa in Florida
- as foreclosures and redundancies force middle-class families from their
homes.” “We all take care of each other," Michelle Holbrook, a
34-year-old resident of the Sacramento camp who lost her job as a carer, told
the San Jose Mercury News. "I've become the camp mother: I do most of
the cooking, and make hot water for coffee." A resident of Reno's tent
city, Tammy, said: "We eat things that other people throw out, or
whatever ... It's really embarrassing to say, but that's the way it sometimes
is out here." Another Reno tent-dweller, Jim, told one of Oprah's
reporters it was "like learning how to live all over again".
co.uk/world/2009/mar/26/tent-city-california-recession-economy
Yes, this is for real and
happening and growing even as we now speak.
“…more and more people were
ruined. Delinquent taxes, drastically rising unemployment and mortgage
foreclosures were heavy burdens to overcome. Those factors forced ordinary
people to either move into Hoovervilles or become transients. Between 1929
and 1933, more than 100,000 businesses failed across the nation. When
President Hoover left office in 1933, national unemployment hovered at a
staggering 13 million — nearly 25 percent of America's work force.”
u-s-history.com/pages/h1642.html
And gold where art thou?
“In this unstable economic
climate, investor demand for gold, platinum, and silver has exploded, leaving
the US Mint scrambling to fill public demand.” ”…this is the case all
over the world…” ”What this shortage of physical gold and the subsequent increase
in the above-spot premium tell me is that the economic climate is convincing
a lot of non-investors to buy gold.” “By that I mean people who don't buy
mutual funds or stocks or anything but usually keep their money in cash are
seeking safety in gold. It could also be that people have grown weary of
invisible electronic investments that send their money off somewhere to
potentially vanish. With the Dow falling so hard, and with people losing
their life savings to scumbags like Bernie Madoff, people are realizing that
if you can't hold it in your hand, it can potentially vanish. Real physical
gold in your own possession is the safest and best way to invest in gold. The
proof is in the demand.”
the-gold-market.blogspot.com/2009/03/gold-shortage-discontinues-proofs.html
How bad are things going to
get? It seems now to be up to the United States government. Can the
government create enough money before the US and global economies plummet off
the horizon?
Unemployment is predicted by
many analysts to reach double digits. These days are worse than the days of
FDR. The only master plan seems to be the creation of trillions of more paper
dollars. Will capitalism survive ten years from now? Certainly more
inflation is in the works as this new money enters the system. Where are all
the jobs today? In the service sector. The government and health system
primarily. And what maintains the service sectors? Without productivity
and manufacturing the service sector has no legs to stand on. All eyes are on
the US dollar. If the rest of the world begins to lose faith in our paper
dollars then the financial world sinks period.
“Government and service jobs
are the big places to get jobs today," says John Connaughton, director
of the University of North Carolina-Charlotte Economic Forecast. Service jobs
include health care and education, he says.”
usatoday.com/money/economy/employment/2009-03-23
Chinese exports are slowing.
Less exports means less foreign capital will be available to finance the US
debt. Mortgage default rates in 2009 are predicted to be higher than
2008. Option Arms coming due. It is estimated there are over 20
million US workers unemployed. So far not one dollar has gone to help a
single family stay in their home. The money to pay working people is going to
the financial manipulations that made the very wealthy even richer and left
the little people screwed. There is no room in Washington for those needing a
helping hand. Americans remain faithful that they are special and immune
from this type of devastation. Almost 75% of Americans believe they will be
better off in 10 years. Ha!!! Many of the ignorant beliefs are at
odds with the facts.
“The only reason someone who
bought a Treasury can get their money is that the government is able to
borrow more money to pay them off," said Peter Schiff, president of
brokerage firm Euro Pacific Capital.” "It's impossible for us to just
keep going deeper and deeper into debt.”
Government policies will lead
to a severe devaluation of the dollar. Make no bones about inflation
returning down the road soon. Oh, by the way. Have you noticed that the
Lipper mutual fund index for gold mining stocks is up over 15%, 3-27-2009?
Is the world really falling
apart? I think so. Actually, it is a realignment of wealth. Primarily
away from the United States to else where. Even talk now about replacing the
US dollar with a new reserve currency because of instability of dollar.
It’s finally happening before our eyes. Banks being nationalized.
Privacy ending for everyone. Globalization occurring at an accelerated
rate.
The following below is an
interesting email from a reader.
“Dear Dave, A trillion is a
mind-boggling number, well beyond the capability of most of us to imagine.
The following will illustrate. “…a stack of $100 bills totaling $1 trillion
would be 789 miles or 144 Mt. Everests stacked on top of one another.”
EY
Where do we go from
Here? Watching the middle class continue to cease as a viable class.
The rich and the poor. More and more difficult to get ahead. Millions
suckered in the past 20 years with the hope and expectation of building their
personal wealth off the backs of 401Ks. We have not even begun to see
where this will lead eventually. Not for the better though.
And what more can we say
about the current status of gold? Recently, the renowned news service
Bloomberg is predicting that gold prices in 2009 are expected to be greater
than last year’s numbers. And even according to The International
Monetary Fund they are expecting gold to start rising in price as the year
2009 progresses. Even the Wall Street Journal is predicting a greater rise in
the gold price as the economy continues to flounder in a downward direction.
These are not the developments of only a temporary trend. These are long term
forecasts predicting a continuing change in gold reputation as an asset
class.
I have made the statement
before that whatever presidential candidate had won this fall would not have
mattered. Our country is in comparison to a mortgage holder holding a
mortgage that is beyond his means to pay. We are debtor to the rest of the
world and they can bear much weight in the fact that the money that they have
loaned to us is decreasing at an ever accelerated rate. I have long
thought. Are the loan holders going to sit idly by as the US prints more and
more paper dollars thereby destroying their investment in the United
States?
Will the day soon come
when the U.S. Treasury holds an auction, and no one shows up? That day may
soon be here. I believe at this point about 13 trillion dollars has been
committed to bailing out the financial crisis. Thats a lot of money.
Money that is really not real but merely created paper dollars with zero
backing. Let’s prop up everyone and allow no one to fail. A
chicken in every pot.
And again, where art thou
oh gold?
Click here to order Gold
Letter (ON SALE!)
Gold, accept no substitute.
Live your dreams & unlock your potential. And don’t be left behind.
Click here for a FREE gold
report!!!
****
|