Category: Economics & Investing

Sean B. spotted this in The LA Times: More municipalities betting on pension bonds to cover obligations. Note that the “pension obligation bonds” that they mention are actually derivatives. Jim Rogers & Peter Schiff Agree, U.S. Treasury Crisis In 2013   Truth About $6 Gas, $200 Oil and the Quest for Energy Independence   2012 the year of the short sale – Short sales over 50 percent of all MLS inventory in Southern California. Items from The Economatrix: Americans Angry As Gas Nears $4 Durable Goods Orders Hint at Weak First Quarter Gas Prices Expected To Continuously Increase Through Summer …

Naïveté, Incroyable! U.S. House Panel Approves Bill Limiting Swaps-Regulation Reach. Do the congresscritters think that they are now somehow getting a handle on the derivatives market? (Thanks to J. McC. for the link.) Debt Bubble: Why “Too Big To Fail” Banks Still Face Much Trouble Ahead   Fed Policy: Ben Bernanke is Warming Up His Helicopter Items from The Economatrix: Housing Market Recovery Hits Pothole The Great Recession of 2007 Never Ended, We are in Fact in a Depression 10 Reasons Why the Reign of the Dollar as the World Reserve Currency is About to Come to an End Crude …

R.B.S. sent this: Why cash is losing its currency Also from R.B.S.: Money moves five doomsayers are making now New Ideas on Pensions: Use States. (Thanks to G.G. for the link.) Items from The Economatrix: Gary North:  Will Helicopter Bernanke Become Hurricane Ben? Gold Prices Near Two-Week High After Fed Comments Wall Street Dips, But Winners Gain As Quarter’s End Nears Consumer Confidence Wanes, Inflation A Concern

Reader Bill V. suggested this: Measuring the yield famine in food. And here is a related article: How the Fed Hurts Retirees.. G.G. found this over at New Scientist: Metal detector knows how much cash is in your wallet Items from The Economatrix: Bernanke’s Words Drive Wall Street Up 1% Doug Casey:  It’s A Dead-Man-Walking Economy America awash in cheap credit and monetization: Rasmussen Consumer Index Reaches Highest Level Since 2008 Gold’s Getting Ready To Go Extreme Bernanke:  Job Market Weak Despite Gains Gold Rises 1.5% On Renewed US Easing Hopes Odds ‘n Sods:

B.B. sent the link to this at The Hill: House liberal budget has trillions more taxes, stimulus than Obama plan A whole raft of new articles over at one of my favorite investing news sites, ETF Daily: Does The SPDR Gold Trust Really Hold Physical Gold, Or Is It A Scam?   Physical Gold & Silver Dividends Offer Investors The Best of Both Worlds   Can Ben Bernanke Break The U.S. Dollar Rally? Why It Matters To The Markets…   Real Estate: The Housing Market’s Biggest Hurdle   Why The Natural Gas Act Is Just Another Washington Boondoggle?   Why …

Spain Starts to Feel the Heat G.G. flagged this: Tungsten-Filled 1 Kilo Gold Bar Found in the UK Memo Reveals: Corzine Did Steal Investor Funds and Perjured Himself Before Congress. (Thanks to B.B. for the link.) Strapped for Cash: New East River Bridges Toll Proposal Goes After Everyone, Including Bicyclists. (A Hat tip to Marcia H. for the link.) Items from The Economatrix: Silver Now Outpacing Gold and Fed Frightened For the Long-Unemployed, Hiring Bias Rears its Head New Homes Sales Slip, Prices at Eight Month High

Jim, I’d like to correct some misconceptions regarding both precious metals and “collectibles”, some of which have been repeated in recent letters from readers.   First, regarding collectibles:  This term has a specific meaning under the Internal Revenue Code.  Its definition is found in 26 U.S.C. Section 408(m)(2), which says:   (2) Collectible defined   For purposes of this subsection, the term “collectible” means—        (A)any work of art,      (B)any rug or antique,      (C)any metal or gem,      (D)any stamp or coin,      (E)any alcoholic beverage, or      (F)any other tangible personal property specified by the Secretary for …

Sue W. recommended: The Seven Rules of Bureaucracy Gary Schilling: The Japan Train Wreck Is Accelerating. (Thanks to Michael W. for the link.) Robert Prechter’s Dire Prediction For 2012 Items from The Economatrix: Home Sales Show Strength, Prices Rise Oil Prices Rise On Unexpected Supply Drop Mish Shedlock: Highest Price Ever of Gasoline in March Signs Of Recovery Grow In US Housing Market. [JWR’s Comment: With so many delayed foreclosures now hitting the market, we are still nowhere near the bottom, folks.]

This hardly comes as news to SurvivalBlog readers: The new black gold: U.S. farmland. (Thanks to R.C. for the link.) Bank of America: Show us your death certificate Doug Casey chimes in, over at Zero Hedge: Its A Dead-Man-Walking Economy Items from The Economatrix: Americans Asleep At The Wheel Driving Into Debt Slavery Bernanke Says Higher Energy Prices Constitute A Threat To The US Economy Existing U.S. Home Sales Hold Near Two-Year High. [But for a dose of reality, read this over at Zero Hedge: New Home Sales Make It 12 Out Of 14 Economic Misses. Thanks to reader Damon …

B.B. sent this: Geithner: My Debt Ceiling Threshold Would Make You Uncomfortable. Commentary from Doug Casey: The Ascendence of Sociopaths in US Governance Items from The Economatrix: IMF Sees $160 Oil Risk Despite Libyan Boost The Truth About Minimum Wage that Will Make You Gasp California Cities Scramble to Avert Insolvency Why 3.5 Million Job Openings Isn’t Great News

James, The recent article by Gordo on Individual Retirement Accounts was informative.  Another, at the SHTFPlan blog was also quite useful. The video linked in the article urges viewers to get out of their dollar-based tax-deferred retirement accounts. There seem to be two options available for protecting your tax-deferred retirement accounts: 1) Cash out, take the early withdrawal penalty, and pay income tax on the withdrawn amount 2) Create a self-directed IRA entity and transform the account into a hedge against the dollar The IRS will let you acquire specific gold and silver coin and bullion, but you cannot take …

T.L.S. suggested this interview: Greyerz – Gold Will React to the $120 Trillion of Additional Debt Kurt T. sent this: Bernanke says gold standard wouldn’t solve problems. Statists will always oppose any measure that limits their ability to spend beyond what they tax. Worried About $6 Gas Prices? Try $8 U.S. Treasuries: This Is The End? Items from The Economatrix: Gold Up On Central Bank Buying Talk But Outlook Weak Meredith Whitney:  “Tidal Wave” Of Muni-Bond Defaults Still Coming Central Banks Pounce On Falling Gold Dire Finances Leave Detroit Stalled US Stocks Decline as Energy Shares Drop on Profit Concern

Do you have the majority of your savings stashed away in a 401k or IRA?  How many investment choices do you have available to choose from?  The usual scenario is maybe 10 to 20 mutual funds that your company offers in its 401k plan.  Then down the road you change jobs and that 401k plan converts to an IRA.  Most people just keep those funds in the same investment plan and do not even know that they have other options available to them.  If you are here on this forum you most likely have given some thought to protecting your …

Marc Faber: Where to Hide Your Gold Did German Gold Bailout Europe?   Europe’s QE3 Will Boost Gold and Silver Prices   Items from The Economatrix: Consumer Prices in US Rose in February As Gas Prices Rise, No Relief in Sight at the Pumps Gasoline Pushes Up US Inflation, Dents Confidence S&P Within 10% of Record High