Category: Economics & Investing

Jim W. was the first of several readers to point me to this piece at Zero Hedge: Silver Demand Surges To Record For February. Jim W. correctly observed that the paper markets for precious metals are increasingly irrelevant. The true relevance in the grand scheme of things can be found in the fact that the supply of paper is limitless and he supply of silver is fixed. Don’t be frightened by short term swings in the market. Just be thankful for the dips–our opportunities to buy in in the midst of a long term bull market. Buy tangibles, not conceptuals. …

Panic in Greek pharmacies as hundreds of medicines run short H.L. sent this, also from The Guardian: We’re so well educated – but we’re useless (Also true in much of America) Aaron H. suggested: If inflation is zero, why does my paycheck feel like it’s shrinking? Items from The Economatrix: Eurozone Crisis As It Happened:  Italian Political Deadlock Sends Markets Tumbling Will Italy Be The Spark That Sets Off Financial Armageddon In Europe? I Hope You’re Ready: “The Selloff Today Is The Start, Not The End

20 States With the Most and Least Mortgage Debt (With the exception of Washington, the American Redoubt States are looking good.) Jim Rickards discusses his Currency Wars book and his expectation for endless monetization of the U.S. Dollar. Reader B.F. recommended a reputable and well-established supplier of gold and silver bullion: OnlyGold.com. Michael C. mentioned this about coupon clipping: Why Consumers May Be on a Crash Course Items from The Economatrix: If Masses Lose Confidence In The Currency… US Stocks Slide As Italy, Sequestration Hit Jobless, Cities Could Be First To Feel Budget Pain Is Rebound In Housing Creating Another …

US Dollar Collapse? Here Are 9 Ways It Could Happen Half of Detroit property owners don’t pay taxes. (Thanks to J.B.G. for the link.) Meanwhile, in Stockton, California: Some residents struggle to pay property taxes Items from The Economatrix: IMF:  World Economy Could End As We Know It … Christine Lagarde: “2013 Will Be Make Or Break” Waking Dreams End Unpleasantly US Already In Technical Default

The High Burden of State and Federal Capital Gains Taxes. (California’s new combined rate us a whopping 33%. Ouch!) Report: United States lost 11,630 farms in 2012 What European Recovery? Unemployment at record high and debt only keeps reaching more unsustainable levels. Italy’s Debt to GDP crosses 125 percent. Items from The Economatrix: The Trigger Has Been Pulled, The Crash Has Begun, How Are Things Going To Play Out Are We Headed Toward An Economic Collapse? Preparing For A Financial Armageddon Moody’s Cuts UK Credit Rating One Notch To Aa1 US Consumers Hit By Payroll Taxes, Rising Gas Prices: Up …

Mr. Rawles, Thank you for your site and all that you do.  I haven’t seen anyone mention on Survivalblog the recent price rise in Bitcoin.  It is a good time to turn any coins into tangible items.  I would like to recommend Fastcash4bitcoins.com I used the service for the first time about two weeks ago just to see if it was for real I selected the pay me with a check option and was paid out on 5 bitcoins.  I can happily say I received and cashed the check three days later.  Now that I had some more confidence in …

G.G. sent us a link to some clueless punditry from The Economist crowd: More Inflation Is the Cure for the Fed’s Impotence. The Fed is locked in to ZIRP and endless monetization (“Quantitative Easing”) because the service cost on the Treasury debt would be unsustainable if interest rates were to rise. When inflation resumes and interest rates do jump, it will be Game Over. The Dollar will crash, interest rates will run up past 15%, and the economy will stagnate. Be careful what you wish for, Mr. Avent. At this point the Fed is irretrievably stuck until Der Tag, when …

Graham Summers: The Fed is Now the Fifth Largest Country in the World B.B. recommended this at Zero Hedge: Stanley Druckenmiller: “We Have An Entitlement Problem” And One Day The Fed’s Hamster Wheel Will Stop America’s Most Miserable Cities 2013 Items from The Economatrix: Why Trouble’s Brewing For The Euro Insolvency, USA Wal-Mart’s “Atrocious” Quarter Reveals A Faltering Economic Recovery

Reader B.B. suggested this: Killing the Dollar: G20 & IMF Push for Global Fed, Global Currency The Wal-Mart Indicator: We’re Heading for a Stagflationary Disaster Jeff R. mentioned this story about modern-day alchemy, with folks treating lead like gold: Oklahoma City business offering ‘Cash for Bullets’ amid gun craze Items from The Economatrix: 20 Signs that the US Economy is Heading For Big Trouble in the Months Ahead Is A “Re-Fi Apocalypse” Upon Us? Homebuilding Takes a Breather; Wholesale Prices Up

Michael W. sent:In hard-hit Spain, bartering becomes means of getting by G.G. sent this: World’s top economies shrink for first time in four years Ask Russ: How Bad is the Sequester? Is Hyperinflation A Certainty? Items from The Economatrix: Retail Apocalypse:  Why Are Major Retail Chains All Over America Collapsing? Currency War Has Started. International Monetary System To Destabilize And Collapse Peter Schiff:  America is Becoming the United States of Britain

The dip in spot silver is continuing. Silver was down to just $28.54 per troy ounce, the last time I checked. This is a great buying opportunity. Buy on the dips! The handwriting is on the wall for the U.S. penny and nickel: Minting Coins Cost U.S. Taxpayers $436 Million: Chart of the Day Reader Joe B. sent this: If the Euro Collapses, the Swiss Army Is Ready B.B. sent this: Peter Schiff: It’s Going To Hit The Fan During Obama’s Second Term Items from The Economatrix: Will We See $5 Gasoline This Year? Refinery Closures Send Gas To Near …

The latest scary chart, over at Jesse’s blog: The Fed is increasing its monetary base aggressively again. G.G. flagged this: Fiscal trouble ahead for most future retirees Manny Pacquiao KO’d by 39.6% Tax Rate, Refuses to Fight in U.S. US Jobless Rate One Of The Worst In Industrialized World (Thanks to C.N. for the link.)

Mainstream media pundit Mark Levin talks serious societal collapse gloom and doom. (In his February 15th show, scroll forward to the 10 minute mark.) A consideration in choosing your locale: State and Local Sales Tax Rates Left In The Dark: Copper Thieves Rob Detroit Freeways Of Light H.L. sent: Texas Prepares to Go it Alone Capitalism works: Private navy goes to war on Somali pirates. (Thanks to KAF for the link.) Items from The Economatrix: Ron Paul:  Trade War & Economic Collapse Coming Gas Prices Hit An Historic High:  What’s Driving Them Up? Fed Joining In Alarm Over Distortion It …