Economics and Investing:

Ed H. sent this: European press: Hollow victory in Greece. Meanwhile we read: Euro crisis far from over, stock analysts warn. (In essence, the EU is just forestalling the inevitable.) Michael H. sent this: Get Ready for the Coming Social Security Fight The global addiction of central banking stimulus – Contagion spreads to Spain as 10-year edges to 7 percent. Life in a perpetual quantitative easing world. Mike in Pennsylvania suggested this: Bank: We’re defaulting, but don’t you dare F.G. sent this: Chaos: Spanish Coal Miners Fire Homemade Rockets at Police to Protest Austerity File under Caching and OPSEC: Ashland …




Letter Re: Advice on Canadian Nickels

James Wesley: I am Canadian and would like to know if you could possibly tell me what year(s) of nickels would be advisable for me to purchase. These would be for investment in the future as barter or monetary trade. Thanking you for your informative blog site. Is there anything comparable in Canada that you are aware of ? I would be much obliged for the information. Thanking You – Patrick S. JWR Replies: The situation with Canadian nickels is much more complicated than with U.S. nickels. Here is some background: In the States, just about the only commonly-circulating nickels …




Economics and Investing:

‘People need some way out’: Bartering takes hold in austerity-wracked Greece. (Thanks to Brad S. for the link.) More derivatives drama: How shock waves will hit US if Greece drops euro. The CDS exposure will be enormous. Marc Faber: ‘100% Chance’ of Global Recession Bill M. spotted this: Investors tout ‘condemnation’ for housing fix. Eminent domain, seriously? What socialist claptrap! Is Silver Currently Riskier Than Gold? Andy Sutton: From Frying Pan to Fire Items from The Economatrix: The Euro’s Collapse Is Not Just About The Euro Lloyd’s Preparing For Euro Collapse John Galta–Report From Greece:  Limited Capital Controls Implemented Velvet …




Prep for Free, by George H.

Obtaining everything on your prep lists can be a very daunting and expensive task no matter what your background is. What I have found is that you can gradually squirrel away a large amount of equipment and food for free. Furthermore, the money saved can be used to secure more quality gear with your savings. Disclaimer: Everything listed below was indeed voluntarily given and verified as available free for the taking. At Work: 1. Food service: First off free food is readily available in meals provided by your employer. Most employers will also have a large surplus of some type …




Economics and Investing:

Bill Whittle discusses entitlements, the debt, and the inevitability of credit downgrades, higher interest rates, and hyperinflation: I’m Talking To You James K. highlighted this news item in McNewspaper: Worst-case scenario is ugly if Greece leaves the Euro Reader Sue C. sent us this: Countries across world gird for Greece turmoil G.G. recommended this article in Der Spiegel: Desperate Greeks Withdraw Money from Accounts Strong ties between JPMorgan, Senate Banking Committee. JWR’s Comment: The Senate committee members must be “…shocked, shocked to find that gambling is going on…” at JPMorgan. Diana V. flagged this: Hong Kong Exchange to Buy London …




Economics and Investing:

Now we can see who benefited from all that “stimulus”: Private Jobs Down 4.6 Million From January 2008; Federal Jobs Up 11.4%. (Thanks to Pierre M. for the link.) Joe G. sent this: U.S. Home Sales to Foreigners Rise as Low Prices Draw Investors: These numbers are mind boggling: US Federal Deficit Totals $844.5B Through 8 Months. (Thanks to G.G. for the link.) Mary F. sent this: Dread and Uncertainty Pervade Life in a Diminished Greece Items from The Economatrix: The Euro Is Doomed Gary North:  George Soros Warns EU Going Down In Three Months Data Points to Soft US …




Economics and Investing:

The Two Worlds of 2012: Will We Have “Inflation” or “Deflation”? Europe Brings Out The “Capital Controls” Bazooka U.S. Derivatives Probe Eyes Bank Control of LCH.Clearnet Pierre M. sent this: Italy ‘may need bailout’ – The Irish Times Items from The Economatrix: Fed Says US Wealth Fell 38.8% in 2007-2010 in Housing S&P Says US to Avoid “Fiscal Cliff,” Risks Remain Moody’s Cuts Cyprus Sovereign Rating Two Notches Fall In May Retail Sails Driven Entirely By Lower Gas Station Spending




20 Reasons Why America’s Next Bank Holiday Will Be a Nightmare

The world is on now on the brink of a global credit crisis that could be far worse than the tumultuous events of 2008. The ongoing sovereign debt crisis in the southern reaches of the Eurozone indicate that bank runs in the region will continue, and that more bank closure “holidays” will be declared. Under a bank holiday, virtually all deposits could be frozen and irredeemable for days, weeks, or even months. The key question is: Will this crisis spread to the rest of Europe and then even to the United States? I urge SurvivalBlog readers–particularly those in Europe–to be …




Letter Re: Advice on Buying Silver

JWR, My wife and I have been discussing which type of physical silver to buy to get out of dollars, but we are unsure of where to start.  On your blog and in your books, you expound on the benefits of pre-1965 coinage with its 90% silver content, and we have looked at buying these coins in bulk from Northwest Territorial Mint.  While perusing that site, we also found that they sell one troy ounce Silver Eagles struck by the US Mint that are .999 pure silver.  There are pros and cons to both the pre-1965 coins and the Silver …




Economics and Investing:

To follow-up on a previously-mentioned piece: Firearm-friendly towns in Idaho lure gun makers. (Thanks to Mitch C. for the link.) Peter Schiff Back on Capitol Hill Reader Tom K. found a Deloitte study that shows some insights on America’s true debt situation: America’s Debt Crisis: New research reveals five unexamined risks Pierre M. suggested: Damning Evidence in the MF Global Case B.B. sent this: Driven by gold and silver prices, thieves target coin collections Global Financial System, A “Dead End of Historic Proportions” Items from The Economatrix: Greece Warned as “Beyond Repair” The Euro’s “Guilty Men” Are Now Steering Europe …




Economics and Investing:

The current liquidity crisis on the southern periphery of the Eurozone now appears likely to spread to all of Europe, and then globally. There are already quiet electronic bank runs in progress in Greece and Spain. On Monday, a bank “holiday” was announced in Italy. More bank runs will likely follow. As of today, Wednesday, June 13, 2012, I strongly urge all SurvivalBlog readers to immediately draw down their checking accounts and liquidate their CDs, passbook savings accounts, and most of the their stocks to buy tangibles. If you already own a retreat, an honest one year storage food supply, …




Economics and Investing:

This hardly comes as news to most SurvivalBlog readers: Fed: Americans’ wealth dropped 40 percent. Stepping back to look at the big picture, we must ask: Cui bono? The banksters certainly haven’t lost much money, since the government obligingly bailed them out with taxpayer funds. Greek Blackouts Risked As Power Companies’ Cash Runs Out: Energy. (Thanks to Dennis M. for the link.) Who really benefits from credit derivatives? Tyler Durden of Zero Hedge: The ‘Big Reset’ Is Coming: Here Is What To Do The more the government tries to “fix” things, the more that it fouls things up: China tariffs …




Letter Re: Development of Montana and Idaho Economies

Jim: Can you give me your thoughts on Montana and Idaho for business development, state of the state’s employment, state government’s interest in business development, general thoughts on state and personal wealth, state budget woes if any? I’m wondering would the government mentality in Montana would be inclined towards establishing world and nationally recognized things in some city center that would increase employment, tourism and their standing? (I’m thinking about Crystal Bridges Museum in Arkansas, Buffalo Bill Center in Cody, Wyoming., and even that odd Rock n-Roll Museum in Seattle. Things like that…. Do they already think that way? Would there …




Letter Re: Cashing Out of a Company Retirement

JWR, I would like to solicit an opinion from you, and maybe get some feedback from other SurvivalBlog readers should you elect to respond.  I was recently laid off from my job, and I will be pulling out my retirement savings from their troubled retirement fund.  I had already planned to move it into silver to protect it from the inevitable future crash.  I am well aware of all the conventional wisdom regarding retirement planning, but I am considering putting this money towards purchasing land that will move my family and me much closer to my goal of off-grid self-sufficiency.  …




Economics and Investing:

R.C. sent this: Ready or Not, Stagflation Is Here Reader Sue C. suggested this: Insight: In Greece, a Painful Return to Country Roots Peter S. spotted this piece by Mish Shedlock: Monopoly Money vs. Bernanke Money, is There a Difference? Argentina loses a third of its dollar deposits. (Thanks to Pierre M. for the link.) G.G. flagged this: CBO: Federal debt to double in 15 years–Fiscal challenges worst since WWII Also from G.G.: Regulators close four banks in four states; makes 28 US bank failures so far this year Items from The Economatrix: US Factory Orders Post Surprise Fall in …