G.G. sent this: New-home sales fall, 2011 could be worst year yet USA Becomes Food Stamp Nation G.G. flagged this: CBO: Federal deficit will hit $1.3 trillion SSG Tom mentioned: Forget stocks; buy food Items from The Economatrix: Int’l Oil Higher On Supply Concerns Higher Durable-Goods Orders Ease Economic Worries Japan Credit Rating Downgraded Over Deficit Few Think Bernanke Speech Will Signal Major Action
Hi James. I only have a few comments on Greg’s treasure hunting article. First! All people new to metal detecting need to know the first rule is: what ever you dig- fill in your holes, please fill in any holes you make, learn to dig a ‘plug’. You Tube has a ‘how to’ do it the right way video. (Note: He’s using a Mine Lab detector in the video) Damaging the grass in your own yard isn’t a big deal, but if a million people (since Greg posted on a very popular blog, and people might rush to buy a …
Reader Tom C. wrote to mention an inflation data point: He noticed that half gallon bottles of lamp oil selling at Wal-Mart just jumped from $4.97 to $5.97 in one week–about a 20 percent increase. Morgan Stanley borrowed the most in financial crisis. ($107.3 billion in one month, with no public disclosure!) Gil Morales and Chris Kacher QE3: Top 8 Reasons Gold Goes Higher. (Thanks to Steve H. for the link.) US Government Asset Seizures On The Rise. (A tip of the hat to Stephen M. for the link.) Over at Fierce Finance: Layoff misery on Wall Street just getting …
James: If you read the mainstream media, you;ll see how the Dow Jones average ‘soars’ when it breaks its downward spiral and posts a 2% gain – when the ‘good’ news is out of Germany and China – never mind that the market is still down 12.5% from where it was a month ago. But, in contrast Gold ‘tanks’ – ‘is at the top of a bubble’ – ‘isn’t money’ – when it pulls back 1.5% at the top of a rally that saw prices up 19% over the same time period. Paper promises of debt aren’t money, and ‘securities’ …
G.G. sent this: Marc Faber readies for hyperinflation, dollar’s demise and civil unrest Frequent content contributor John R. sent this: A banking system built on lies and deception–Hiding commercial real estate losses by laundering bad loans through the Federal Reserve. Trillions of dollars in bailouts were made while banks told the public all was well. Items from The Economatrix: Chinese Think Tank Implies America May Be Falsifying Its Accounting, Says US on Its Way to Default Gold Soars to Record Near $1,900 on Economic Woes $5,000 Gold, $200 Silver Predicted The Great Collapse Has Officially Begun Moody’s Downgrades Japan’s Debt …
If you have been following the precious metals market lately, and you either have been or are considering the idea of investing in silver or gold, you fully appreciate the degree of value both metals have increased to. Market volatility is sparking renewed interest in precious metals as a means of protecting investments. Historically, civilizations understand the value and rare properties gold and silver offer. Regardless of what Ben Bernanke thinks, gold is money, and has been a form of currency, more so than the fiat currency that he continues to run off the printing press. The problem is that …
Be prepared for more of the roller coaster rider in the precious metals markets. If spot gold closes over $1,950, we can expect the COMEX governors to slap the futures market with substantially higher margin requirements. This may cause a temporary sell-off that will be a great buying opportunity. (The manipulators can depress the futures market in the short term, but the physical market is so strong that the precious metals bull will eventually renew its charge in the long term.) It appears that the window of opportunity for stockpiling nickels will soon be closing: Mint awards firm contract to …
G.G. sent us this “must read” article: Wall Street Aristocracy Got $1.2 Trillion in Secret Fed Loans G.G. also flagged this item: Despite Economy, Ohio, U.S. Gun Sales Defy Gravity Also from G.G.: Social Security disability on verge of insolvency Loyal content contributor RBS sent this: Shoppers will see higher prices for back-to-school shopping, but stores aim to disguise them RBS sent this: The economic worries of a regular American consumer Will Hugo Chavez Touch Off an Epic Short Squeeze in Gold? Some interesting reading: Outlook: Gold, Stocks, Volatility, Euro & Bonds All US Mint Numismatic Gold Coin Sales Suspended. …
Getting ready for a wave of coal-plant shutdowns. (Thanks to KAF for the link.) Pierre M. suggested this: Trouble in Paradise Strength of Swiss Franc Roils Saint-Tropez and Other Cities Across Europe John R. kindly sent us a raft of links: The Root Causes of the Global Financial Crisis (Bob Chapman) Bernanke’s last resort: Start dancing? (Paul R. La Monica) Plosser calls Fed’s low rate pledge “inappropriate” Europe’s banks could break us all Bill Fleckenstein The Bailout Isn’t Working Bank of America is the canary in the coal mine U.S. Treasury Hidden Trickery in Mortgage Backed Security Recoveries …
File under No Great Surprise Department: China May Stop Buying Treasurys as Growth Slows: Roach Reader Chris D. suggested: Honest Work for Honest Silver Pay U.S. closes 3 more banks, 68 so far in 2011. (One with 1.7 billion in deposits!) Investors: Threat of Stagflation Looms as Prices Rise Despite Bad Economy Items from The Economatrix: Moody’s Lowers US Economic Outlook Through 2012 Analyst: “Not To Own Gold Is To Trust Governments” Economists See Growing Risk Of Global Recession Here We Go Again: Another Big Down Day For Dow Gold Hits Latest Record High, Near $1,830 Behind The Selloff: Stocks …
James C. chimed in with this: Obama Agriculture Secretary: Food Stamps Create Jobs. JWR’s Comment: Oh, yes, and graffiti creates spray paint and spray paint creates teenage angst, and… Items from The Economatrix: Thinking The Unthinkable: Sell US Treasuries Moody’s Lowers Economic Growth Outlook Former Obama Whitehouse Economist: Unemployment Won’t Drop Below 8% Before End of 2012 US Economy Has Young Americans Downsizing Their Dreams
RJK sent this: End Game Approaching in Europe: No Way Out But Debt Restructuring Back to the Future: Gold, JPY, DAX, Paulson – CRASH? Report: Crop losses in Texas top $5 billion. (Thanks to Michael W. for the link.) How to Dig Yourself Out of Credit Card Debt Thanks to Chris S. for spotting this: President Hugo Chavez announced Wednesday he is nationalizing Venezuela’s gold mining industry and intends to bring home $11 billion in gold reserves currently held in U.S. and European banks. Items from The Economatrix: A Big Bounce, Ounce By Ounce, and Gold Takes Off Core Wholesale …
John Embry interview with James Turk at Gold Rush 2011. David Morgan: $75 Silver Price Looming K.A.F. sent this: Employees Bid Farewell to Corporate America. A few of them are wisely heading to the hinterboonies. Also from K.A.F.: Biden to sell US debt deal during trip to China, Japan It is all about revenue: New York City bridge tolls will be bumped up to as much as $7 per crossing. Items from The Economatrix: The Beginning of the Endgame U.S. Economy’s Wild Ride is Far From Over World Bank Chief: Global Economy in “New Danger Zone” A Reason for the …
Swiss Ponder Battle Over Runaway Franc. K.A.F. suggested this at Zero Hedge: If the Market Crashes, Who Owns Enough Stock to Even Care? Items from The Economatrix: US Homebuilders Remain Pessimistic in August How 2011 is a Repeat Of 2008, Only Bigger, Longer, and Uncut By Bailouts World Economic System Ready to Crash US Downgrade: World is Calling Even Louder For a New Global Currency
There’s another Bug Out Bag (BOB) in the prepper family that you need to meet. It’s the Bug Out Bank, something that should be an addition to everyone’s G.O.O.D. plan. With the chaos going on in the financial world, and the uncertainty that goes hand-in-hand, the importance of this element of your plan can’t be overlooked. We all realize there’s a bad moon rising. Let’s take a step back and look at the big picture. It’s worse that it appears from up close. The official, underreported unemployment rate is hovering around 10%. The debt ceiling “fix” was done with masking …