SurvivalBlog’s G.G. sent this: ‘Underwater’ Homeowners Rise to 28 Percent: Zillow. JWR’s Comment: Please don’t try to tell me that the U.S. housing market has “reached the bottom”. It will continue to deteriorate. The bottom won’t be reached until after hundreds of billions of dollars in bad debt unwinds. At this point, the only viable way for the government and the Federal Reserve banking cartel to extricate themselves from this morass is to inflate their way out. It will only be when houses start selling for more than they did in 2007 that the market will start to “turn around.” But even that will be an artifice and a sham. Look for Quantitative Easing 3, Quantitative Easing 4, and so on, in next few years. Protect yourself by getting out of U.S. Dollar denominated investments, and into tangibles.
Oh, a reminder: I recommend that whenever you write Federal Reserve that you append it with “banking cartel”. Because that is what it is. It is not a government agency. It is legalized cronyism. The Federal Reserve banking cartel is no more “Federal” than Federal Express or Federal Cartridge Company.
It appears that the spot silver market has turned around. Last week’s plunge was a bit of a scare. It was triggered by some margin increases, just as I had predicted. There will be more scares like this in the months to come. The silver market is thin and volatile. As silver gets up past $55 per ounce, the COMEX Governors will likely try more shenanigans to que the futures market. (Yes, they’ll raise margin requirements even higher.) But even if they can manipulate futures, they can’t stop the global demand for physical silver. Just keep your seatbelt tightened, and look at each big dip as a buying opportunity.
Items from The Economatrix:
Energy, Metals Stocks Rise With Commodity Prices
Oil Roars Back After Last Week’s Big Plunge