Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Coronavirus: UK Parents Demand ALL Schools OPEN September, 7 Million Children Abandoned by Teachers - 9th Aug 20
Computer GPU Fans Not Spinning Quick FIX - Sticky Fans Solution - 9th Aug 20
Find the Best Speech Converter for You - 9th Aug 20
Silver Bull Market Update - 7th Aug 20
This Inflation-Adjusted Silver Chart Tells An Interesting Story - 7th Aug 20
The Great American Housing Boom Has Begun - 7th Aug 20
NATURAL GAS BEGINS UPSIDE BREAKOUT MOVE - 7th Aug 20
Know About Lotteries With The Best Odds Of Winning - 7th Aug 20
Could Gold Price Reach $7,000 by 2030? - 6th Aug 20
Bananas for All! Keep Dancing… FOMC - 6th Aug 20
How to Do Bets During This Time - 6th Aug 20
How to develop your stock trading strategy - 6th Aug 20
Stock Investors What to do if Trump Bans TikTok - 5th Aug 20
Gold Trifecta of Key Signals for Gold Mining Stocks - 5th Aug 20
ARE YOU LOVING YOUR SERVITUDE? - 5th Aug 20
Stock Market Uptrend Continues? - 4th Aug 20
The Dimensions of Covid-19: The Hong Kong Flu Redux - 4th Aug 20
High Yield Junk Bonds Are Hot Again -- Despite Warning Signs - 4th Aug 20
Gold Stocks Autumn Rally - 4th Aug 20
“Government Sachs” Is Worried About the Federal Reserve Note - 4th Aug 20
Gold Miners Still Pushing That Cart of Rocks Up Hill - 4th Aug 20
UK Government to Cancel Christmas - Crazy Covid Eid 2020! - 4th Aug 20
Covid-19 Exposes NHS Institutional Racism Against Black and Asian Staff and Patients - 4th Aug 20
How Sony Is Fueling the Computer Vision Boom - 3rd Aug 20
Computer Gaming System Rig Top Tips For 6 Years Future Proofing Build Spec - 3rd Aug 20
Cornwwall Bude Caravan Park Holidays 2020 - Look Inside Holiday Resort Caravan - 3rd Aug 20
UK Caravan Park Holidays 2020 Review - Hoseasons Cayton Bay North East England - 3rd Aug 20
Best Travel Bags for 2020 Summer Holidays , Back Sling packs, water proof, money belt and tactical - 3rd Aug 20
Precious Metals Warn Of Increased Volatility Ahead - 2nd Aug 20
The Key USDX Sign for Gold and Silver - 2nd Aug 20
Corona Crisis Will Have Lasting Impact on Gold Market - 2nd Aug 20
Gold & Silver: Two Pictures - 1st Aug 20
The Bullish Case for Stocks Isn't Over Yet - 1st Aug 20
Is Gold Price Action Warning Of Imminent Monetary Collapse - Part 2? - 1st Aug 20
Will America Accept the World's Worst Pandemic Response Government - 1st Aug 20
Stock Market Technical Patterns, Future Expectations and More – Part II - 1st Aug 20
Trump White House Accelerating Toward a US Dollar Crisis - 31st Jul 20
Why US Commercial Real Estate is Set to Get Slammed - 31st Jul 20
Gold Price Blows Through Upside Resistance - The Chase Is On - 31st Jul 20
Is Crude Oil Price Setting Up for a Waterfall Decline? - 31st Jul 20
Stock Market Technical Patterns, Future Expectations and More - 30th Jul 20
Why Big Money Is Already Pouring Into Edge Computing Tech Stocks - 30th Jul 20
Economic and Geopolitical Worries Fuel Gold’s Rally - 30th Jul 20
How to Finance an Investment Property - 30th Jul 20
I Hate Banks - Including Goldman Sachs - 29th Jul 20
NASDAQ Stock Market Double Top & Price Channels Suggest Pending Price Correction - 29th Jul 20
Silver Price Surge Leaves Naysayers in the Dust - 29th Jul 20
UK Supermarket Covid-19 Shop - Few Masks, Lack of Social Distancing (Tesco) - 29th Jul 20
Budgie Clipped Wings, How Long Before it Can Fly Again? - 29th Jul 20
How To Take Advantage Of Tesla's 400% Stock Surge - 29th Jul 20
Gold Makes Record High and Targets $6,000 in New Bull Cycle - 28th Jul 20
Gold Strong Signal For A Secular Bull Market - 28th Jul 20
Anatomy of a Gold and Silver Precious Metals Bull Market - 28th Jul 20
Shopify Is Seizing an $80 Billion Pot of Gold - 28th Jul 20
Stock Market Minor Correction Underway - 28th Jul 20
Why College Is Never Coming Back - 27th Jul 20
Stocks Disconnect from Economy, Gold Responds - 27th Jul 20
Silver Begins Big Upside Rally Attempt - 27th Jul 20
The Gold and Silver Markets Have Changed… What About You? - 27th Jul 20
Google, Apple And Amazon Are Leading A $30 Trillion Assault On Wall Street - 27th Jul 20
This Stock Market Indicator Reaches "Lowest Level in Nearly 20 Years" - 26th Jul 20
New Wave of Economic Stimulus Lifts Gold Price - 26th Jul 20
Stock Market Slow Grind Higher Above the Early June Stock Highs - 26th Jul 20
How High Will Silver Go? - 25th Jul 20
If You Own Gold, Look Out Below - 25th Jul 20
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending - 25th Jul 20
FREE Access to Premium Market Forecasts by Elliott Wave International - 25th Jul 20
The Promise of Silver as August Approaches: Accumulation and Conversation - 25th Jul 20
The Silver Bull Gateway is at Hand - 24th Jul 20
The Prospects of S&P 500 Above the Early June Highs - 24th Jul 20
How Silver Could Surpass Its All-Time High - 24th Jul 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

Paul Revere and Gold

Commodities / Gold & Silver 2009 Mar 29, 2009 - 08:34 PM GMT

By: David_Vaughn

Commodities

Best Financial Markets Analysis ArticleRemember 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.

Bill Buckler, March 12, 2009 - “ZERO INTEREST - INFINITE DEBT” “The economically imploding world is entering into the land of the surreal.” “The World's Factories Are Falling Silent…” “Former US Fed Chairman Paul Volcker has called attention to the unprecedented slowdown in the world's factories. He stated that the present slowdown in world factory production was happening faster than in 1930!” “Factory output is collapsing at the fastest pace ever.” Bill Buckler, March 12, 2009, investmentrarities.com/thebestofbb

And how has world production decreased this past year or so as this financial crisis gathers steam? Bill Buckler has done a great deal of research looking up the statistical numbers. And if you are not familiar with Bill Buckler order his newsletter, the Privateer. The best newsletters are those that provide real and researched statistical data confirming and backing up personal opinions. Anyway, let's continue reading below and observe how the world continues to raise to its economic destiny.

Bill Buckler, March 12, 2009 - March 12, 2009 “Here is the global roundup. The annualized figures for February are as follows: Taiwan - 43 percent, Ukraine - 34 percent, Japan - 30 percent, Singapore - 29 percent, Hungary - 23 percent, Sweden - 20 percent, Korea - 19 percent, Turkey - 18 percent, Russia - 16 percent, Spain - 15 percent, Poland - 15 percent, Brazil - 15 percent, Italy - 14 percent, China - 12 percent, Germany - 12 percent, France - 11 percent, US - 10 percent and Britain - 9 percent. This is a catastrophe.” “This is why the global credit crunch is so dangerous for business. It has progressed from a credit slowdown - to a credit contraction - to a global credit money” “The global factory slowdown already reported here will have real and physical consequences - soon. There will suddenly be gaps on the shelves of stores which were normally filled with retail goods of certain kinds.” “The proposed Obama federal budget is so extreme in its financial structure as to defy description.” “Revenues for 2009 are projected at $US 2.19 TRILLION, down 13 percent from a year ago due to the recession. With the bank bailouts and the $ US 787 Billion economic recovery program, 2009 expenditures are estimated at $US 3.94 TRILLION - up 33 percent over 2008.” Bill Buckler, March 12, 2009, investmentrarities.com/thebestofbb

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 mark ets 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- mark et.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?

Never mind your hat; Buy Gold and hold on for your financial life... http://goldnews.bullionvault.com/crisis_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!!!

David Vaughn
David4054@charter.net

The future legacy of the United States will be the refined art of financial leverage.

© Copyright 2009, Gold Letter Inc.

“The Worldwatch Institute, an organization that focuses on environmental, social and economic trends, says the current rate of global demand for resources is unsustainable.”  

The publisher and its affiliates, officers, directors and owner may actively trade in investments discussed in this newsletter. They may have positions in the securities recommended and may increase or decrease such positions without notice. The publisher is not a registered investment advisor. Subscribers should not view this publication as offering personalized legal, tax, accounting or investment-related advice. The news and editorial viewpoints, and other information on the investments discussed herein are obtained from sources deemed reliable, but their accuracy is not guaranteed. © Copyright 2008, Gold Letter Inc.

David Vaughn Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules