Jim’s Quote of the Day:

“[John Connor is] ‘the leader of the resistance, fighting artificially intelligent machines determined to annihilate the human race’ Did he strike you that way? Leader of a scrappy band of rebels? Luke Skywalker type?” – Richard T. Jones as FBI Agent James Ellison in the pilot episode of Terminator: The Sarah Connor Chronicles. (Script by Josh Friedman)













Jim’s Quote of the Day:

“…anyone who has been dragging his feet and has still got the bulk of his savings in the banking system, particularly the U.S. banking system, it’s getting almost too late to act. You need to move very quickly to get the bulk of your savings out of the weaker banks…ideally…you should own U.S. Treasuries directly in a money market fund…don’t sit around until it’s too late…finding yourself at the back of the line in front of your bank.” – Robert Prechter, quoted in Once in 100 Year Crisis?




Jim’s Quote of the Day:

“The amount of gold in existence is finite. It cannot be increased any faster than by 1.6% per annum (the rate at which mines are producing gold). Whereas the amount of money in circulation is currently expanding at double-digit levels, on a worldwide basis, the U.S. M3 money supply back in 1980 was 1.8 trillion dollars. Today, according to economist John Williams, the U.S. M3 money supply has ballooned to almost 15 trillion dollars. Some of that extra money has the potential to move into gold.” – Peter Degraaf, in Is the Price of Gold Artificially Depressed?




Jim’s Quote of the Day:

“Depression, especially in a highly leveraged world that is accustomed to prosperity, would likely result in serious civil strife. Politically, it must be avoided no matter what the economic or financial costs. Despite ‘spin-talk’ to the effect that the Fed is pursuing a dual mandate to both fight inflation and promote growth, in reality they are simply trying to promote growth pure and simple. This is the reality that few market analysts or journalists dare to mention.” – John Browne










Jim’s Quote of the Day:

“At this point, our bet remains that the Feds will go to default mode which means cranking up the printing presses into the red zone, letting the dollar move ever closer to its intrinsic value: zero. That they’ll follow this route is suggested by two inputs. First, a depreciating dollar means a reduction in the trillions of dollars in obligations now owed by the U.S. government. And, secondly, foreign holders don’t vote.” – David Galland, as quoted by The Silver Bear Cafe







Jim’s Quote of the Day:

“Ludwig von Mises warned us that governments will destroy free-markets long before they ever understand how they work. I would like to add that governments will destroy free-markets if they do not like the message of the market. Government intervention after all is nothing but a blatant attempt to change the market’s message about the price of some good or service. We have seen this intervention time and again by governments around the world, including the U.S. government. Sen. Lieberman’s bill to prevent institutional investors from buying commodities is a good example of this penchant to destroy the market process …




Jim’s Quote of the Day:

“Unless derivatives contracts are collateralized or guaranteed, their ultimate value depends on the creditworthiness of the counterparties. In the meantime, though, before a contract is settled, the counterparties record profits and losses – often huge in amounts – in their current earnings statements without so much as a penny changing hands. The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen).” – Warren Buffett, in a recent Berkshire Hathaway annual report




Jim’s Quote of the Day:

“Self-sufficiency isn’t a sexy idea. At best, people who say they’re interested in being self-sufficient are stereotyped as dour, old-fashioned rural types. At worst, they’re seen as fanatical survivalists planning for an apocalypse. Economists also tell us that self-sufficiency is an anachronism. Instead, it is specialization that produces wealth, and economies – including the world economy – produce the most wealth when everyone, including countries, specializes in what they do best and then trades their products for the other things they need. The more specialization, the more connectivity among specialists, and the more trade along those connections, the better.” – …




Jim’s Quote of the Day:

“We are not only headed for a Depression, but a violent Depression that will be far worse than [the one that started in] 1929. Some experts believe the United States will fall into the chaos, bedlam and anarchy that tore apart Yugoslavia. I am not going that far, but I know our morals and ethics are not the same as they were in 1929. Moreover, we are a far more violent society and totally dependent upon a well oiled system for delivery of food and basic services.” – Mike Morgan