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 …
You might noticed that on Monday (August 15, 2011), the spot price of gold was fairly flat, but that spot silver was up substantially. Just as I predicted last week, it appears that Mr. Market has belatedly realized that silver needs to catch up to the recent advance in gold prices. To get back to a 40-to-1 ratio, silver would have to advance to $43.41 per ounce. In the long run, a ratio of 20-to-1 or perhaps even 16-to-1 is realistic. So again, if you have enough secure storage space, then buy silver rather than gold. If you want to …
Reader R.P.B. recommended this: World Debt Guide: Owe Dear (an interactive graphic showing sovereign debt versus GDP.) Truckergirl sent this: 10 Signs That Economic Riots And Civil Unrest Inside The United States Are Now More Likely Than Ever. Lorimer Wilson posted his analysis on the silver-to-gold price ratio and potential tops. Daily Bell Briefs: SEC Goes After S&P / World Bank to the Rescue? / Death & Democracy in the Middle East / States to Embrace Online Gambling. Some commentary from Tam (of the always entertaining View From The Porch blog): When everybody’s a millionaire… Mr. M. sent this: Food …
On August 12th the newspaper headlines had some exceptionally bad news: Four European Nations to Curtail Short-Selling. This is an ill-advised panic move, following some massive losses on the European stock markets. (The French CAC 40 index is down 18.2 percent thusfar in August. Meanwhile, the DAX was down 15% in just a week.) Banning short selling does not bode well for the free market, nor for any meaningful stock pricing numbers that we can rely on. As the nascent global credit crisis deepens, we can expect more monkeying with the markets, on both sides of the Atlantic. For example, …
At The Daily Bell: Richard Maybury and Rick Rule on Why More War Is Likely, the Future of the US Dollar and Why Neither of Them Vote Another from The Daily Bell: Thomas Jacob on the New Swiss Gold Franc, Why the EU Is a Bad Idea and Why an IMF Managed Currency Would Be Tragic Arnaud de Borchgrave: Black swans galore: As U.S. superpower status fades, ‘Arab Spring’ gives way to global chaos. (Thanks to J.B.G. for the link.) Michael W. sent this: Tracking the money from stocks to gold. Items from The Economatrix: Shoppers Lift Economy But …
Jim: The eBay online auction company has been around for many years and up until recently I had not been using it to get the incredible deals I should have been getting for years. Much of the survival gear that a prepper needs is often highly durable and will last a life time, so buying them second hand on eBay is a wise choice. The first thing to consider is your List of Lists. Consider what you need from reloading supplies, body armor, tactical gear, weapon accessories, clothing, or surplus goods. Now make a list of key words that are …
G.G. sent this: Bank in Kansas Becomes 64th Failure This Year Also from G.G.: Analysis: Fed low-rate promise seen as opening salvo for QE3 Carlos in the U.P. spotted an excellent article by Karl Denninger explaining how the fundamental issues in our economy such as derivatives and too much leverage are kept from coming to the light of day: Dispelling Popular Delusions: TARP And Balance Sheets J.B.G. suggested this news clip that illustrates the innate yet well-founded anxiety about the near future: Texans grab their guns as economy stalls Items from The Economatrix: Beijing Downgrades US Treasury From A+ To …
G.G. sent this: Deficit Averaged $110 Billion Per Month So Far in 2011. So, what’s a shortfall of $3,600,000,000 per day, among friends? It all sounds a little like Wimpy. Given the demographic trends of our aging population, the projected GDP, the prevailing inflation rate, and the law of compounding interest, it is nigh on impossible for our children and grandchildren to ever pay off this crushing debt. Did Soros Win 10/1 Return On S&P’s US Credit Rating Downgrade? France & Britain AAA-ratings Under Scrutiny More shrugging: Fed Up: A Texas Bank Is Calling It Quits An interesting 15 minute …
Bitcoins are a new anonymous peer-to-peer digital currency. It is truly the next big thing in how we can conduct transactions over the internet without any central clearinghouse or bank or government ‘okaying’ our transactions. I believe Bitcoins will be quite disruptive in how we all do business online. You can pay anyone directly with Bitcoins, buy products from Amazon.com in Bitcoins (through a reseller), and even take SurvivalBlog’s’ 10-cent challenge in Bitcoins! Bitcoins have an inherent value and as long as the internet is standing, are here to stay. As of this writing, 1 Bitcoin (or BTC) was selling …
Predictably, they slammed on the brakes at the COMEX: CME Group Hikes Margin Requirements For Comex Gold Futures. But since the physical market for gold is so strong, this move against futures trading will probably cause only a brief drop in the price of gold. The bull will resume his charge. (Thanks to Eli for the link.) Dennis C. mentioned this editorial: Falling Bank Stocks Offer a Too-Big-to-Fail Wakeup Call John R. kindly sent a whole raft of links: Jim Rogers: Bernanke, Geithner Leading Us Into Fiscal Armageddon (Henry J. Reske and Kathleen Walter) The Best Looking Horse in …
The shorts must be screaming, about now: Gold shoots past record $1,800 an ounce. When I last checked, the silver-to-gold ratio was at 45.4-to-1. Again, if you have the vault space, this is a great time to ratio trade out of your 1 ounce gold coins, and into silver bullion coins. (Such as pre-1965 American “junk” silver.) Michael W. sent this: A National Debt of $14 Trillion? Try $211 Trillion More of The Mother of All Bailouts (MOAB)?: Government considers turning foreclosures into rentals G.G. sent this: Ron Paul: “Gold Is Not A Bubble” From K.A.F.: Economic Uncertainty Leading to …