The Coming Economic Collapse, Currency Induced Cost Push Inflation/Hyperinflation, Weimar Germany, Euro Collapse,
Zimbabwe Hyperinflation, Survival in Economic Collapse, World Economic Collapse, Dollar Collapse,
What Would Happen If the Economy Collapsed,The Coming Economic Depression.
Gold and Silver Will Protect Your Wealth.
Two days ago we posted the first episode in the must watch four part
"Meltdown" series from Al Jazeera looking at the key events that
brought the world to the edge 3 years ago. With the final quarter of
the year upon us, and with massive redemption requests hitting deeply
underwater hedge funds, not to mention with a macro and micro economic
global financial environment that is the worst it has been since the
fall of 2008, we once again stand on the verge of yet another Great Financial Crisis.
And although our politicians and leaders refuse to learn from the
past, we are confident our readers are far more intelligent. Which is
why here is the next part in the Meltdown Series: "A Great Financial
Tsunami." Because while insanity may be doing the same thing over and
over expeting a different result, sheer idiocy is constantly refusing to
learn from the past, and expecting a present which "is different this
time."
Anyone exiting the third quarter with a Bank of America (or Wells, or
JPMorgan, or Citi) short on their books will be delighted to learn
that the "other" mortgage fraud scandal, not the
putback litigation which is sure to cost Bank of America billions in
incremental legal fees now that that particular settlement appears to
be challenged and banks even across the Atlantic are joining in the
legal free for all, but the "Linda Green" robosigning affair, which
various conflicted attorneys general had held a tenuous grasp over with
a settlement in process, has just blown out wide into the open once
again, after California joined New York AG Schneiderman in pulling out
of the talks, and leaving Iowa Atty. Gen. Tom Miller with a completely
lost cause. We expect all other states to promptly follow New York and
California's examples. The net impact is quite adverse for all mortgage
lenders, as this development will merely snarl the traditional
foreclosure process for even longer, and while beneficial to borrowers,
it will put even less cash into the depleted coffers of the banks that
so desperately need it. Since few if any will actively pursue
distressed, or any, housing sales, it will not only hinder further
balance sheet repair of the banking sector, but will keep a lid on any
potential housing market improvement, which as BCG indicated a few days
ago, is the most critical missing link to any economic recovery.
Without it the hands of the Fed chairman are tied even more, and leave
him (and the middle class) with just one, nuclear as it may be,
option.
We are going to hear several carefully fashioned talking points
concerning the economic collapse over the course of the final quarter
of 2011, especially in light of the dismal end of the stimulus driven
bull market that sustained public optimism since the derivatives
implosion in 2008.Let’s not forget, three years ago
mainstream economists and the Obama administration were calling for a
near full recovery by 2011.Obviously this never materialized, and so, the game has to shift to a new dynamic to keep us all guessing.The
deflationary boogieman will be resurrected to frighten taxpayers into
taking on even more debt in order to feed the fiat machine, but this is
going to meet extraordinary resistance.If you think the protests on Wall Street today are gaining momentum, just wait until Helicopter Ben announces QE3!The
next logical step in the progression of banker planning is the call
for “Globally Coordinated Action”; global initiatives tying numerous
countries together in a unified effort to whitewash the crisis and
solidify their real purpose of economic centralization.
Deflation phobia has broken out again, and Japan's
"deflation spiral" is held up as sheer horror. So here is my experience
with that horror. Alas, in one category, deflationistas have been right.
This week, we explore another facet of the elites'
involvement in the cultural sphere, namely the role of literature in
promoting ideas and memes associated with the concept of one-world
governance, also known as New World Order.
Although literary concerns may seem, on the surface, to be somewhat
irrelevant to pressing social or economical issues, great literature
almost always has a political or ideological dimension: the works of
Dante, Petrarch, Shakespeare, Molière, Cervantès, Voltaire, and
countless other giants were nourished by their socio-political views and
by the ideological conflicts in which they took part.
Given that writers were, and are, often endowed with a certain kind
of intellectual prestige and that their opinions tend to weigh heavily
in the social discourse, it stands to reason that the elites have sought
to orient the literary discourse, through patronage and other means,
and to use renowned authors as spokespersons for spreading their
ideologies.
However, in contrast to professional music-making or scientific
research, the opportunity cost of writing is relatively small, with a
low barrier to entry, and it has become comparatively easy, at least
since the invention of the printing press, to reach a wide audience
through the written medium. Thus, the arrival of the Gutenberg era,
while facilitating the spread of information, created significant
obstacles to the elites' ability to control the written discourse, a
point that has been made before on these pages.
As a consequence, it is probably not until the 20th century that the
literary world became influenced to a large extent by Money Power and by
State-controlled institutions such as universities. Read More
Peter Schiff
The past couple weeks have seen a strong pullback in both
commodity prices and stocks. Gold fell sharply off its peak after
soaring just past $1,900. Volatility in commodity, currency, and equity
markets has been very high recently, and these short-term price
movements have Wall Street pundits in an uproar.
As gold prices soared, many advisors recommended investing in the
yellow metal with appeals to the "bandwagon effect". A rising price,
they argued, indicated changing sentiment, and thus future appreciation.
For those who bought on this reasoning, a falling price is a bad omen.
In addition, for a while, gold prices were rising even as stock
prices were falling. As a result, some investors bought gold to hedge
stock market risk. When gold eventually followed equity prices lower,
these trades were unwound.
But as my readers know, following the crowd has never been the reason
to buy gold. After all, that same logic would have recommended buying a
house in Phoenix five years ago. Since the fundamentals still point to
gold's long-term viability, our phones have been ringing off the hook
with customers smartly seeking to take advantage of the dip.
UNCHANGING FUNDAMENTALS
It's important to understand the fundamental reasons for owning gold,
and those reasons have not changed. The US government embarked on a
decades-long spending spree of historic proportions. To finance the
resulting debt, the Federal Reserve is printing money furiously. Read More
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
No comments:
Post a Comment