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That's what I was thinking but I thought we were going to see the pull back on Thursday or Friday. Not new highs!! $58.50 to $59.00 would be nice...
How much higher can this thing go????
W@G2 02/01/12 for a 02/03/12 close $59.80
Thanks for the charts rayrohn. I have Feb. 59 puts on the QQQ's right now so I like your W@G. Are you shorting right now?
Sorry, I meant to say $59.45 on 2-1-12
Alright, this is my first W@G. Close on 1-31-12 at 59.45
I can't believe this is real:
http://silverbearcafe.com/private/12.11/rubicon.html
Hey couch, everything that was SOMA is now FGOOF. I just checked my trading accounts and all of my SOMA shares are gone. I am guessing they will be replaced with FGOOF shares in the very near future. At what price who knows. All I can say is, "FGOOF to $50 a share, weeeeeeeeeeeeeeee."
I'm with you too big dog!!!
I think the market may be in for a big decline on Monday!!
The Prepper Movement: Why Are Millions Of Preppers Preparing Feverishly For The End Of The World As We Know It?
The American Dream
In America today, there are millions of "preppers" that are working feverishly to get prepared for what they fear is going to happen to America. There is a very good chance that some of your neighbors or co-workers may be preppers. You may even have noticed that some of your relatives and friends have been storing up food and have been trying to convince you that we are on the verge of "the end of the world as we know it". A lot of preppers like to keep their preparations quiet, but everyone agrees that the prepper movement is growing. Some estimate that there are four million preppers in the United States today. Others claim that there are a lot more than that. In any event, there are certainly a lot of preppers out there. So exactly what are all these preppers so busy preparing for?
Well, the truth is that the motivation for prepping is different for each person. Some preppers believe that a complete collapse of the economy is coming. Others saw what happened to so many during Hurricane Katrina are are determined not to let that happen to them. Some preppers just want to become more independent and self-sufficient. There are yet others that are deeply concerned about "end of the world as we know it" scenarios such as terrorists using weapons of mass destruction, killer pandemics, alien invasions, World War III or EMP attacks.
But whatever the motivation is, the prepper movement is clearly growing. Today, millions of Americans are converting spare rooms into storage pantries, learning how to grow survival gardens and stocking up on everything from gas masks to auxiliary generators.
Recently, the Salina Journal gathered together about two dozen preppers. What they found is that there is a tremendous amount of diversity among preppers, but that they also clearly share a common passion....
It was a diverse bunch. All different shapes, sizes, ages, gender and political persuasions.
Some were ex-military. Some never served. Some were unemployed, some had jobs. A few were retired.
But they all shared a common bond: They call themselves Preppers, and they had gathered to share ideas, demonstrate various skills, enjoy each other's company and to put faces to the online names they use to disguise their identity.
Never before in U.S. history have we seen anything like this. We are at peace and most of us still have a relatively high standard of living and yet millions of Americans feel called to start preparing for the worst.
A lot of preppers don't like to publicize the fact that they are prepping. As the Salina Journal discovered, a lot of preppers try very hard to keep their prepping to themselves.....
They are trying to keep their passion for prepping hidden from neighbors and, in some cases, employers who they said would frown on their association with such a group. Two admitted their appearance here would probably get them fired if their companies found out.
Many people believe that it takes a lot of money and resources to be a prepper, but that is not necessarily the case.
For some, the best way to get prepared is to radically simplify things.
For example, a recent article posted on Yahoo Finance profiled a man that lives in his RV and that survives on about $11,000 a year....
I had an apartment in Burbank and was the typical Los Angeles apartment dweller. I started to feel a strong desire to simplify my life. I had a garage full of stuff I never used, my closets were full, and I started to see that it was costing me money to have an apartment big enough to hold all the stuff I never use.
My initial plan was to scale back and move into a smaller apartment. Before long, I realized I didn't need too much to be happy. I could fit into a small space. That's when the RV idea occurred to me. I was just sitting in traffic and an RV pulled up. I said, "I could probably fit in that thing." The more I looked into it, the more I realized how practical it would be. For what I was paying for rent in LA, I could own my "house" free and clear and not pay rent, and own my car as well.
Other people make the most of what they already have. It is absolutely amazing what some families are able to do with limited resources.
For example, there is one family that is actually producing 6000 pounds of produce a year on just 1/10th of an acre right in the middle of Pasadena, California.
This family grows more food than they need and they sell the excess to restaurants in the surrounding area. You can see video of their amazing garden right here.
Other Americans take prepping to the other extreme. For example, Steven Huff is building a 72,000 square foot "home" (some call it a fortress) in Missouri. Huff is the chairman of Wisconsin-based TF Concrete Forming Systems, and he wants to show off what his firm is capable of. Huff claims that this will be "a home that uses very low energy, as well as having strong resistance to tornadoes, hurricanes, earthquakes, fire, flood and insect damage".
In reality, what Huff is building kind of resembles a castle. You can see pictures of this remarkable "home" right here.
But Huff is not the only one taking things to extremes.
In a recent article, I detailed how renowned Texas investor Kyle Bass appears to be very well prepared for the horrible economic collapse that he believes is coming. The following is how one reporter described his recent visit to the 40,000 square foot "fortress" owned by Bass....
"We hopped into his Hummer, decorated with bumper stickers (God Bless Our Troops, Especially Our Snipers) and customized to maximize the amount of fun its owner could have in it: for instance, he could press a button and, James Bond–like, coat the road behind him in giant tacks. We roared out into the Texas hill country, where, with the fortune he’d made off the subprime crisis, Kyle Bass had purchased what amounted to a fort: a forty-thousand-square-foot ranch house on thousands of acres in the middle of nowhere, with its own water supply, and an arsenal of automatic weapons and sniper rifles and small explosives to equip a battalion."
Do you think that Bass is taking things too far?
Well, there are other big names that are busy preparing for the worst as well.
For instance, Robert Kiyosaki, the best-selling author of the "Rich Dad, Poor Dad" series of books is now a full-fledged prepper.
He says that he is "prepared for the worst" and that he and his wife "have food, we have water, we have guns, gold and silver, and cash".
So should the rest of us be preparing?
Of course we should be. Our nation is drowning in debt, the U.S. economy is dying, the number of earthquakes and other natural disasters is increasing, and the entire globe is becoming an extremely unstable place. If you read my articles on a regular basis, then you know that there are a whole host of reasons to try to become more independent and self-sufficient.
So what can we all do to get prepared?
Well, in a previous article I listed a few things that can be done by most people....
#1 Become Less Dependent On Your Job
#2 Get Out Of Debt
#3 Reduce Expenses
#4 Purchase Land
#5 Learn To Grow Food
#6 Find A Reliable Source Of Water
#7 Explore Alternative Energy Sources
#8 Store Supplies
#9 Protect Your Assets With Gold And Silver
#10 Learn Self-Defense
#11 Keep Yourself Fit
#12 Make Friends
For those interested in learning more about preppers and prepping, there are a lot of really great resources out there....
*American Preppers Network
*The Survival Mom
*In Case Of Emergency, Read Blog
*The Surburban Prepper
So what do you think about preppers?
Do you think that the prepper movement is going too far?
Do you think that the prepper movement is not going far enough?
Are there legitimate reasons why Americans should be preparing for difficult times ahead?
I'm going to try to view this in a positive light. It appears to me that Larry is going to try and pump this thing up again and MAYBE we will get to sell into this latest pump and recoup some of our losses!! Keep your eyes open and if anyone finds any new info please post on this forum. We need to find out what the new ticker is going to be and when trading will resume. So lets try to keep one another in the light and work together to close this shitty chapter of our lives!!
Obama's "Millionaire Tax" Collected Over Next Ten Years Will Plug 4 Months Worth Of Deficit
In order to keep the ongoing class warfare waged by the administration in perspective, today the CBO was kind enough to score the revenue impact of the proposed and much debated Buffett Tax, now appearing in non-populist literature as "Surtax on Millionaires." According to the Budget Office, said tax which is the source of substantial consternation among the population, would generate, over the next decade, a grand total of... drum roll... $453 billion. Why the drum roll? Because as we pointed out a few days ago, the US closed the 2011 fiscal year having added $1.23 trillion in debt (a number which would have been $1.4 trillion absent some year end settlement gimmickry). In other words, last year the US government had on average a $100+ billion deficit each month. In yet more other words, the great populist gimmick that is the Buffett Tax will have the great benefit of generating, between 2011 and 2021 enough money to plug a debt hole, at the rate America currently spends money, of 4 months.
From the CBO:
Dear Mr. Leader:
As you requested, CBO and the staff of the Joint Committee on Taxation (JCT) have estimated the budget impact of S. 1660, the American Jobs Act of 2011, as introduced in the Senate on October 5, 2011. CBO and JCT estimate that, in total, enacting S. 1660 would decrease deficits by about $6 billion over the 2012-2021 period (see enclosed table). That estimated deficit reduction of $6 billion over the coming decade is the net effect of $447 billion in additional spending and tax cuts in titles II through III and $453 billion in additional tax revenue from the surtax specified in title IV.
S. 1660 is similar to S. 1549, the American Jobs Act of 2011, as introduced in the Senate on September 13, 2011. Provisions in title I, II, and III related to both federal revenues and spending are identical for the two bills. The only difference between the bills is that S. 1660 replaces the provisions in title IV (Offsets) of S. 1549 with a surtax of 5.6 percent, starting in 2013, on a taxpayer’s modified adjusted gross income in excess of $1 million (or $500,000 in the case of a married individual filing a separate return), indexed for inflation. JCT estimates that title IV of S. 1660 would increase revenues by $453 billion over the 2012-2021 period, whereas title IV of S. 1549 would increase revenues by $450 billion over that period.
I guess just about everything has been posted and debated about the dollar demise. We are waiting for what we see as inevitable and just need to sit back and observe the puppet masters and work every once in a while to get the big picture!! The long they delay this game the worse it will be once the day of reckoning comes. This is a good read from The Silver Bear:
Preservation
Johnny Silver Bear
(Editor's Note: I recently received an email from a reader who voiced the same concerns that I expect most of our readership shares, about their retirement savings and how to best secure their assets and deal with the demise of empire. You folks are fortunate in that you have awakened and realized that there was something very, very rotten going on. There is still time to do something. In an attempt to answer her questions, I found my self slipping in to one of my rants. I decided to post it for you all to enjoy. - JSB)
Dear Johnny,
As a dear friend of mine referred me a few months back to your web site, I am still pretty green as to understanding what all is going on. I would not refer myself as a sheeple but at times it is difficult for me to follow some of the articles. I am learning though.
The reason I am writing to you is more on a personal note than anything regarding silver and hoping that you can help me. This past December I moved my retirement funds out of the G Fund, TSP. Smart move but now in various diversified accounts for example I Shares Silver, Gold Silver Mines and even McCormick Spices to name a few. In December my gut reaction was to pull it all and to invest in silver currency. My investor guy talked me out of it due to the 10% penalty along with 20% taxes. I haven’t "lost" any money to date other than the devaluation of the dollar. (still a loss in that sense but not like losing it all)
I have been sick over the state of the economy and my gut reaction is that I made a big mistake. After reading the latest article regarding the amount of silver basically left, I have not been able to sleep well. I do not know if I am on target in thinking that I still should pull my all my retirement funds but my gut is telling me it is now. Normalcy mode tells me that I am jumping the gun but every time I step out of the box it has been a good move. I know I will hear some junk from the investor guy that I should not put all my eggs in one basket but again my gut is telling me that it will not get better.
So my biggest concern after much thought is making sure my mortgage payment is made if the SHTF. Being that my husband and I are retired there is no guarantee even that check will be there…for him being a state employee and me a federal employee. I have prepared myself with food, etc and now at a crossroads regarding the silver.
I do realize that you do not have a crystal ball to look into to say what exactly going to happen but guess I am looking for reassurance that I see things as they truly are. Any help would be greatly appreciated for I do have a call into the investor.
Thanks for all you do for it is greatly appreciated!
June
Dear June,
As you might imagine, I receive many emails daily and I am, due to time constraints, unable to answer most of them, but your email struck a chord with me because we recently dealt with my wife's IRA.
But before I get to the retirement account option, I will address your other questions. First, you are absolutely right about the dollar devaluation. The U.S. Dollar has lost more than 60% of it purchasing power since 2002. The value of silver has not increased. The value of the dollar has tanked. Most people do not understand the insidious nature of inflation. It is not a natural occurrence. It is a contrived means of theft. It was originally implemented by goldsmiths who invented the fractional reserve system. Please follow this link to a video that might help you understand the methods of their madness: http://www.silverbearcafe.com/private/02.09/moneyasdebt.html
To further illustrate my contention that we are being screwed by the Government and the Federal reserve, please consider, on July 23rd, 1965 L.B.J. unconstitutionally signed the Coinage Act of 1965 and prevaricated that it would legally supersede the original Coinage Act of 1792. He did not have the constitutional authority to mess with the value of U.S. coinage. He was just one more criminal politician, in a long line of criminal politicians, trying to rewrite the U.S. Constitution for his own personal gain. His contention, that he had the power to do so, was ludicrous. In fact, the penalty, prescribed in the original coinage act for doing so, was/is death. But the dumbed down sheeple didn't seem to mind, so he got away with it. Johnson was a slimeball criminal. Ah, but I digress.
A dime, minted in 1964 was comprised of 90% silver. Today, a pre 1965 dime will purchase a gallon of gasoline. Today, gasoline is cheaper than it was in 1964. The reason we can't buy gasoline for 10¢ with Federal Reserve notes is because we have been robbed by the Federal Reserve (owned by American and European Banking families) and a complicit government. Pretty much everything is cheaper now than it was in 1964. Advances in technology, manufacturing and distribution would have/should have provided a greatly enhanced standard of living for all Americans. That is if we hadn't been ripped off by the powers that be. This is the main reason that the middle class is shrinking. Until we abolish the Federal Reserve and prosecute the criminals, the future of the United States will remain in great peril.
The dollar still has a ways to go before the people realize it is worthless. Silver represents a store of value that can not be altered by the criminal banksters or politicians. So, to sum up the first point. I believe that, even if you take a 10% penalty and pay 20% taxes (that's probably about as much as you would have paid in taxes on the income originally) you will be ahead of the game if the dollar loses another 10%. I think silver will surpass $100 an ounce within the near future.
Silver, however, is more volatile (price wise) than gold. I believe there is quite a bit more potential for the price of silver to rise than there is for gold. Naturally then, the factor of risk is greater holding silver than it is for holding gold. Silver, however, is rarer than gold. Not very many people are aware of this fact. Most of the world's above ground stockpile of silver has been used up by industrial applications and weaponry. The traditional silver to gold ratio (for last 5000 years, prior to the federal government illegally fixing the price) has been 16-to-1. At gold's current price of around $1542.00, the price of silver should be at least $96.00. If there was no manipulation by criminal banksters, the Silver Users Association, the Crimex (Comex) the FED, or the government, I would expect the price of gold to be closer to $10,000.00 per ounce which would mean silver could reach a value in excess of $625.00 an ounce. Investing in precious metals is the best security that I am aware of.
And now we arrive at yet another option, which is to leave your savings in an IRA. It is now possible to move funds that are currently in a self directed IRA into an account that mirrors gold and/or silver in their appreciation (or depreciation) against the dollar. Although this is one of the most prudent things you can do with a IRA, it is my least favorite option because I am afraid that the government might be intending to seize the retirement accounts of all Americans and force them into U.S. Treasuries (or something like that). The Federal Reserve is currently buying the bulk of each Treasury Issuance which is, beyond a doubt, hyperinflationary. So many criminals, so little time...
For years I have complained that my wife's 401K was subject to criminal constraints in that she could only go long on the issues she was involved with. Her company mandated (all companies mandate by law) that she could only invest, and go long, in XYZ mutual funds. At the time, I believed were they were bad investments. In a free market you have to have the option to bet against an issue as well as betting for it. Taking away the option to short an issue provides for nothing more than a rigged game. But all the sheeple seem to go along with it. Everybody's 401K has the same restrictions. Nobody balks. It's much easier remain ignorant of the realities of investing than to gain the understanding that they are being fleeced.
I personally have lost all faith in the system, as well as the hope that the worthless sheeple might wake up, and, as a result, I spend most of my time trying to provide evidence of the crimes of the Darkside, and to present the remedies and solutions that I have come across, in my research, that might help my readers deal with the current, abysmal, state of affairs. When I started "the Bear" I was actually (naïvely) trying to pose solutions to the "big picture" problem. Solutions that might have "righted the ship". That was ten years ago. About three years ago I realized the system was irrevocably broken and beyond repair and that all I could do was help those that had finally awakened from their sheeple slumber to prepare for the collapse. It is like a slow motion train wreck.
The day is fast approaching when Joe Sixpack will not be able to afford a sixpack on Friday and, when that day comes, and I expect it to happen this year, the country will slip into a chaotic haze. Joe will not have a clue as to what happened, why it happened, who caused it or who is to blame. At that point we will have riots in the streets, clueless idiots with no plan. These folks will be mad at everyone who has something, anything...
So prepare yourself. Own physical bullion. Hold it yourself. If you're concerned, bury it in the backyard. Don't tell anyone that you have it. Don't pay more than a 5% premium to buy it or sell it. You can, eventually divest your self of everything you own and convert it to bullion. At that point you will be a pauper, and eligible for medicare and medicaid. Leave a map to where it is hidden for your kids or whomever. This will eliminate any probate.
By the way, I am not a licensed financial planner. The message I am trying to convey comes as the result of ten years of intense study and good old common sense. In spite of what I have stated in this piece, please take everything I say with a grain of salt.
June, we appreciate your readership and wish you the best.
Respectfully,
Kenny Parsons aka Johnny Silver Bear
Chief cook and bottle washer,
The Silver Bear Cafe.
If silver hits $26 I will take out a second mortgage to buy more!!
That sums it up well!!
Financial Services Hearing July 13 2011
Rich Dad, Poor Dad, Prepper Dad? Even Robert Kiyosaki Is Warning That An Economic Collapse Is Coming
http://silverbearcafe.com/private/06.11/richdad.html
Top 5 Places NOT To Be When The Dollar Collapses
Chris Duane
The dollar collapse will be the single largest event in human history
This will be the first event that will touch every single living person in the world. All human activity is controlled by money. Our wealth, our work, our food, our government, even our relationships are affected by money. No money in human history has had as much reach in both breadth and depth as the dollar. It is the de facto world currency. All other currency collapses will pale in comparison to this big one. All other currency crises have been regional and there were other currencies for people to grasp on to. This collapse will be global and it will bring down not only the dollar but all other fiat currencies, as they are fundamentally no different. The collapse of currencies will lead to the collapse of ALL paper assets. The repercussions to this will have incredible results worldwide. (Read the Silver Bullet and the Silver Shield to protect yourself from this collapse.)
Thanks to the globalization and the giant vampire squids of the Anglo-American Empire, the dollar is the world's reserve currency
It supports the global economy in settling foreign trade, most importantly the Petro Dollar trade. This money is recycled through the City of London (not to be confused with London) and New York. This fuels our corporate vampires that acquires and harvests the wealth of the world. The corporate powers suppress REAL assets like natural resources and labor to provide themselves massive profits. This Fascist, Statist, Collectivist model provides the money into the economy to fund an ever increasing federal government. That government then grows larger and larger enriching its minions with jobs to control their fellow citizens. Finally, to come full circle, the government then controls other nations through the Military Industrial Complex.
This cycle will be cut when the mathematically and inevitable collapse of the dollar occurs
In order for our debt based money to function we MUST increase the debt every year in excess of the debt AND interest accrued the year before or we will enter a deflationary death spiral. When debt is created, money is created. When debt is paid off, money is destroyed. There is never enough to pay off the debt, because there would be not one dollar in existence.
We are at a point where we either default on the debt, willingly or unwillingly, or create more money/debt to keep the cycle moving
The problem is if you understand anything about compounding interest, we are reaching the hockey stick moment where the more debt that is incurred, the less effective it is and this leads us to hyper inflation. There are only two actors needed for this hyper inflation, the Lender of Last Resort, the Fed, and the Spender of Last Resort, the government. These two can, and will, blow up the system. I believe they will wait until the next crisis and the whiff of deflationary depression before they fire up the printing presses. That crisis is coming very soon at the end of this summer or fall. The money and emergency measures are worn out. The fact that NONE of the underlying problems that caused the 2008 crisis have been resolved. The only thing that has happened is that instead of corporate problems, we now have nation problems. In this movie Greece will play the role of Lehman Brothers and the United States will play the role of AIG. The problem is there is nowhere to kick the can down the road and there is no world government to absorb the debt, yet...(Problem, Reaction, Solution.)
So this leads me to the Top 5 Places Not To Be When the Dollar Collapses
1. Israel
This Anglo-American beach head into the Middle East was first conceived by the most powerful family in the world, the Rothschilds, in 1917. The Balfour Declaration said that there will be a Zionist Israel years before World War two and the eventual establishment of Israel. Israel has not been a good neighbor to its Muslim nations and has always had the two biggest bullies on the block at it's back. When the dollar collapses, the United States will have much to much on its plate both domestically and internationally to worry about such a non-strategic piece of land. This will leave Israel very weak at a time when tensions will be high. This very thin strip of desert land will not be able to with stand the economic reality of importing its food and fuel or the political reality of being surrounded by Muslims.
2. Southern California
The land of Fruits and Nuts turns into Battlefield Los Angeles. 20 million people packed into an area that has no water and thus food is not good to say the least. Throw on top of the huge wealth disparities and the proximity to a narco state and this does not bode well. We have seen riots for Rodney King, what will happen when the dollar is destroyed and food an fuel stops coming into this area. People will get desperate and do crazy things, especially when a huge proportion of its citizens are on anti depressants. If food and fuel cannot get in, what about Zolfot? At a time when people's world are falling apart they lack the ability to deal with this new paradigm. If people come off of these drugs too fast they suffer psychotic breaks and you will have thousands of shootings or suicides.
3. England
The Land of the Big Brother and former Empire of world wide slave and drug trade will suffer heavily. The stiff upper lip that their the British Elite ingrained into their sheeple will not work anymore as the British population explodes. The human character will sacrifice and unite for a foreign enemy, but not if the enemy has always been the Elite. The Anglo-American Empire may pull off another false flag to distract it's population on another Emmanuel Goldstein like in 1984, but I feel this collapse will happen before they pull it off. This will make all eyes point at the British Elite as solely responsible for this catastrophe. We have seen massive riots for soccer matches with hooligans. What will happen when this island with very little food and fuel gets cut off?
4. New York City
Another large urban area living too high on the dollar hog. NYC is the area I moved out of in 2008. There is little doubt that all of the wealth in New York, New Jersey and Connecticut is derivative off of Wall Street wealth. The savings and investments of the whole nation and much of the world flows through this financial capital. As the world wakes up to the massive financial fraud, this will lead to the destruction of capital like we have never seen before. This will have tremendous effects on the regional economy as people driving in Mercedes suddenly wonder where their next meal is coming from.
5. Washington D.C.
The political collapse of the Federal Government will wreck havoc on the hugely inflated local economy. As more and more states find it necessary to assert their natural control, the Federal Government will suddenly loose power and importance as the whole world suffers from a Global Hurricane Katrina. The money that they create and spend, will become worthless and the government minions pensions will evaporate. Millions that once relied on the ability to force others to send their money to them, will learn that the real power has always been at the most local level. Massive decentralization will be the answer to globalization gone mad. Local families and communities will forgo sending money and power out of their community, as they will care about their next meal and keeping warm.
"You can ignore reality, but you can't ignore the consequences of ignoring reality." -Ayn Rand
To sum up, those areas that have lived highest on the hog in the dollar paradigm will most likely be the worst places to live when the dollar collapses
Many of you will find this article with passing interest, but rest assured this dollar collapse is coming. It is a mathematical inevitability. We will not be as fortunate to muddle through this collapse like we did in 2008 when it was a corporate problem. This time around, it is a national and global problem. The global Ponzi scheme has run out of gas as the demographics decline, as cheap abundant oil declines, as hegemonic power declines. This comes at a time when we reach the exponential or collapse phase of our money. The Irresistible Force Paradox says,""What happens when an unstoppable force meets an immovable object?" We are about to find out, when infinite money hits a very finite world.
The system is designed to fail, and they started gambling with our money when they got rid of the Glass-Steagall Act!!
Hey P.C., this is what our government thinks of your religious views:
http://www.godlikeproductions.com/forum1/message1527066/pg1
Preservation
Johnny Silver Bear
(Editor's Note: I recently received an email from a reader who voiced the same concerns that I expect most of our readership shares, about their retirement savings and how to best secure their assets and deal with the demise of empire. You folks are fortunate in that you have awakened and realized that there was something very, very rotten going on. There is still time to do something. In an attempt to answer her questions, I found my self slipping in to one of my rants. I decided to post it for you all to enjoy. - JSB)
Dear Johnny,
As a dear friend of mine referred me a few months back to your web site, I am still pretty green as to understanding what all is going on. I would not refer myself as a sheeple but at times it is difficult for me to follow some of the articles. I am learning though.
The reason I am writing to you is more on a personal note than anything regarding silver and hoping that you can help me. This past December I moved my retirement funds out of the G Fund, TSP. Smart move but now in various diversified accounts for example I Shares Silver, Gold Silver Mines and even McCormick Spices to name a few. In December my gut reaction was to pull it all and to invest in silver currency. My investor guy talked me out of it due to the 10% penalty along with 20% taxes. I haven’t "lost" any money to date other than the devaluation of the dollar. (still a loss in that sense but not like losing it all)
I have been sick over the state of the economy and my gut reaction is that I made a big mistake. After reading the latest article regarding the amount of silver basically left, I have not been able to sleep well. I do not know if I am on target in thinking that I still should pull my all my retirement funds but my gut is telling me it is now. Normalcy mode tells me that I am jumping the gun but every time I step out of the box it has been a good move. I know I will hear some junk from the investor guy that I should not put all my eggs in one basket but again my gut is telling me that it will not get better.
So my biggest concern after much thought is making sure my mortgage payment is made if the SHTF. Being that my husband and I are retired there is no guarantee even that check will be there…for him being a state employee and me a federal employee. I have prepared myself with food, etc and now at a crossroads regarding the silver.
I do realize that you do not have a crystal ball to look into to say what exactly going to happen but guess I am looking for reassurance that I see things as they truly are. Any help would be greatly appreciated for I do have a call into the investor.
Thanks for all you do for it is greatly appreciated!
June
Dear June,
As you might imagine, I receive many emails daily and I am, due to time constraints, unable to answer most of them, but your email struck a chord with me because we recently dealt with my wife's IRA.
But before I get to the retirement account option, I will address your other questions. First, you are absolutely right about the dollar devaluation. The U.S. Dollar has lost more than 60% of it purchasing power since 2002. The value of silver has not increased. The value of the dollar has tanked. Most people do not understand the insidious nature of inflation. It is not a natural occurrence. It is a contrived means of theft. It was originally implemented by goldsmiths who invented the fractional reserve system. Please follow this link to a video that might help you understand the methods of their madness: http://www.silverbearcafe.com/private/02.09/moneyasdebt.html
To further illustrate my contention that we are being screwed by the Government and the Federal reserve, please consider, on July 23rd, 1965 L.B.J. unconstitutionally signed the Coinage Act of 1965 and prevaricated that it would legally supersede the original Coinage Act of 1792. He did not have the constitutional authority to mess with the value of U.S. coinage. He was just one more criminal politician, in a long line of criminal politicians, trying to rewrite the U.S. Constitution for his own personal gain. His contention, that he had the power to do so, was ludicrous. In fact, the penalty, prescribed in the original coinage act for doing so, was/is death. But the dumbed down sheeple didn't seem to mind, so he got away with it. Johnson was a slimeball criminal. Ah, but I digress.
A dime, minted in 1964 was comprised of 90% silver. Today, a pre 1965 dime will purchase a gallon of gasoline. Today, gasoline is cheaper than it was in 1964. The reason we can't buy gasoline for 10¢ with Federal Reserve notes is because we have been robbed by the Federal Reserve (owned by American and European Banking families) and a complicit government. Pretty much everything is cheaper now than it was in 1964. Advances in technology, manufacturing and distribution would have/should have provided a greatly enhanced standard of living for all Americans. That is if we hadn't been ripped off by the powers that be. This is the main reason that the middle class is shrinking. Until we abolish the Federal Reserve and prosecute the criminals, the future of the United States will remain in great peril.
The dollar still has a ways to go before the people realize it is worthless. Silver represents a store of value that can not be altered by the criminal banksters or politicians. So, to sum up the first point. I believe that, even if you take a 10% penalty and pay 20% taxes (that's probably about as much as you would have paid in taxes on the income originally) you will be ahead of the game if the dollar loses another 10%. I think silver will surpass $100 an ounce within the near future.
Silver, however, is more volatile (price wise) than gold. I believe there is quite a bit more potential for the price of silver to rise than there is for gold. Naturally then, the factor of risk is greater holding silver than it is for holding gold. Silver, however, is rarer than gold. Not very many people are aware of this fact. Most of the world's above ground stockpile of silver has been used up by industrial applications and weaponry. the traditional silver to gold ratio (for last 5000 years, prior to the federal government illegally fixing the price) has been 16-to-1. At gold's current price of around $1542.00, the price of silver should be at least $96.00. If there was no manipulation by criminal banksters, the Silver Users Association, the Crimex (Comex) the FED, or the government, I would expect the price of gold to be closer to $10,000.00 per ounce which would mean silver could reach a value in excess of $625.00 an ounce. Investing in precious metals is the best security that I am aware of.
And now we arrive at yet another option, which is to leave your savings in an IRA. It is now possible to move funds that are currently in a self directed IRA into an account that mirrors gold and/or silver in their appreciation (or depreciation) against the dollar. Although this is one of the most prudent things you can do with a IRA, it is my least favorite option because I am afraid that the government might be intending to seize the retirement accounts of all Americans and force them into U.S. Treasuries (or something like that). The Federal Reserve is currently buying the bulk of each Treasury Issuance which is, beyond a doubt, hyperinflationary. So many criminals, so little time...
For years I have complained that my wife's 401K was subject to criminal constraints in that she could only go long on the issues she was involved with. Her company mandated (all companies mandate by law) that she could only invest, and go long, in XYZ mutual funds. At the time, I believed were they were bad investments. In a free market you have to have the option to bet against an issue as well as betting for it. Taking away the option to short an issue provides for nothing more than a rigged game. But all the sheeple seem to go along with it. Everybody's 401K has the same restrictions. Nobody balks. It's much easier remain ignorant of the realities of investing than to gain the understanding that they are being fleeced.
I personally have lost all faith in the system, as well as the hope that the worthless sheeple might wake up, and, as a result, I spend most of my time trying to provide evidence of the crimes of the Darkside, and to present the remedies and solutions that I have come across, in my research, that might help my readers deal with the current, abysmal, state of affairs. When I started "the Bear" I was actually (naïvely) trying to pose solutions to the "big picture" problem. Solutions that might have "righted the ship". That was ten years ago. About three years ago I realized the system was irrevocably broken and beyond repair and that all I could do was help those that had finally awakened from their sheeple slumber to prepare for the collapse. It is like a slow motion train wreck.
The day is fast approaching when Joe Sixpack will not be able to afford a sixpack on Friday and, when that day comes, and I expect it to happen this year, the country will slip into a chaotic haze. Joe will not have a clue as to what happened, why it happened, who caused it or who is to blame. At that point we will have riots in the streets, clueless idiots with no plan. These folks will be mad at everyone who has something, anything...
So prepare yourself. Own physical bullion. Hold it yourself. If you're concerned, bury it in the backyard. Don't tell anyone that you have it. Don't pay more than a 3% premium to buy it or sell it. You can, eventually divest your self of everything you own and convert it to bullion. At that point you will be a pauper, and eligible for medicare and medicaid. Leave a map to where it is hidden for your kids or whomever. This will eliminate any probate.
By the way, I am not a licensed financial planner. The message I am trying to convey comes as the result of ten years of intense study and good old common sense. In spite of what I have stated in this piece, please take everything I say with a grain of salt.
June, we appreciate your readership and wish you the best.
Respectfully,
Kenny Parsons aka Johnny Silver Bear
Chief cook and bottle washer,
The Silver Bear Cafe.
What the hell was that????? LOL
Have a blessed Memorial Day weekend!!
http://silverbearcafe.com/private/05.11/1-2boy.html
Thanks for stopping by Relentless Despot. I think this board will catch more attention once the dollar's demise really begins to accelerate!! Weather it's next week or next decade, most here think its inevitable...
Warnings Signs Caution the Next Crisis Is Coming
http://www.minyanville.com/businessmarkets/articles/precious-metals-stocks-secular-bear-market/5/16/2011/id/34559?camp=syndication&medium=portals&from=yahoo
Guest Post: The Good, The Bad And The Ugly - Part 3
http://www.zerohedge.com/article/guest-post-good-bad-and-ugly-part-3
Zimbabwe Says Days Of The US Dollar Are Numbered, Pushes For Gold-Backed Local Currency
Topping off a weekend of surreal news is the announcement from the Central Bank of Zimbabwe that the country is now evaluating introducing a gold-backed Zimbabwean dollar, and, in keeping with the Salvador Dali feel to the past 48 hours, that the "days of the US dollar as the world's reserve currency are numbered." Yes. Zimbabwe, the same place that two years ago sported a brand new crisp Z$100 trillion bill. What is just as odd is that this news comes less than a week after Iran's President Mahmoud Ahmadinejad criticized US economic policies, saying that the paper currency created by the American government is taking a heavy toll on the global economy. While Zimbabwe, which now transacts almost exclusively in foreign currencies such as the USD and the South African Rand, is actively considering ways to return its own currency into circulation, the man who has up to now served as an inspiration and a role model to Ben Bernanke, Gideon Gono, said the country should consider adopting a gold-backed currency. “There is a need for us to begin thinking seriously and urgently about introducing a Gold-backed Zimbabwe currency which will not only stable but internationally acceptable,” he said in an interview with state media... That giant ripping noise you hear is the Chairsatan tearing down each and every 20x10 poster of Gideon Gono, lining the hallways of the Princeton Economics department.
From News Zimbabwe:
THE central bank says the country must consider adopting a gold-backed Zimbabwean dollar warning that the US greenback’s days as the world’s reserve currency are numbered.
Government ditched the Zimbabwe dollar in 2009 after it had been rendered worthless by record inflation levels and adopted multiple foreign currencies with the US dollar, the South African Rand and the Botswana being the most widely used.
“We need to re-think our gold-mining strategy, our gold-liberalisation and marketing strategies as a country. The world needs to and will most certainly move to a gold standard and Zimbabwe must lead the way.”
Gono said the inflationary effects of United States’ deficit financing of its budget was likely to impact other countries to leading to a resistance of the green back as a base currency.
We wonder what took Zimbabwe, a country rich in natural resources, so long to figure out that it was nothing but a puppet in the hands of western monetary interests:
“The events of the 2008 Global Financial Crisis demand a new approach to self reliance and a stable mineral-backed currency and to me, Gold has proven over the years that it is a stable and most desired precious metal,” Gono said.
“Zimbabwe is sitting on trillions worth of gold-reserves and it is time we start thinking outside the box, for our survival and prosperity.”
Curiously, the same can be said for Russia, and, soon enough, after it will have bought every last resource and global extraction company, China.
By now it is far too clear that it is an "Onion" world out there. Will it be all that surprising if Zimbabwe is the first country, following its brief and painful detour into hyperinflation, to introduce a gold-backed currency?
I just took this from a Iraq Dinar website.
Take with a grain of salt don’t hate the player hate the game.
Tony of PTR states DC looks good they are excited – news trucks are everywhere – some people are still in town but negotiating is completed – Tony received absolute proof that this was supposed to happen 3 days ago – we are so far in the window that we are about to kick it out so there will be NO window – we are there folks its here now
The rate numbers you are seeing are the same numbers we are hearing – we are going to have a great Monday as the weekend is going to be fantastic
Tony said this guest about to speak is in Iraq and his source is right on main street Baghdad and talks to these people everyday- something WILL happen Friday – and he is on the call now to tell us that………………. this morning
Again today in Iraq all over – during their morning mass/services the citizens were notified about the RV and explained what they could look forward too that all the ‘emom’=clergy people there were given out all the information in the Masque’s this AM and Maliki announced today that tomorrow will be a great day in history in Iraq – he told them via this official notices that was read by the heads of these religious places to the citizens they would receive what he told them they would receive – every masque’s were told this news this morning and there is over 1000 media people there -dignitaries are there and Tony says this points to something is happening that is serious enough
Tony states our DC contacts tells us a whole bunch of media trucks are all over the parking lots of the Dept of Treasury right now.
The same rate again we are seeing this morning going around whether its $3.00 or 5.27 – 7.21 today or tomorrow is all I care about – its finally here – again this RV was scheduled to happen Thursday as I saw with my own two eyes that it was scheduled and cancelled – and with the Masque’s being infiltrated with information to give out to all the worshipers today in Iraq on their holy day – this shows that its happening…
This weekend looks great but EVERYTHING is pointing for this to be OVER OVER OVER – bear in mind a kaviot could happen but again its point to over completely
Dan states news just in with a call he is trying to confirm again,The DONG has been reevaluated $.03 higher than what it is right now………..if it was revalued at $.03 higher then you will be able to double dip especially of the Iraq dinar goes in the next couple of days ago and today’s meetings and with tomorrow’s meetings in Baghdad…
Dan states RE: RV Could be 3pm eastern time – or when Market closes or after, is the word it may happen today. This call is not to just have a call, we had heard that at noon eastern something was to happen – and later since it has not – folks know this is coming, we got calls after noon today that’s ITS NOT OFF ITS STILL ON……………… lots of stuff happening in DC but in Baghdad too and its heating up for something to pop, The Iraqis like to announce important things in their evenings between 7-10 pm their time – its their holy day and we could see it tomorrow or Sunday 5pm eastern time when stocks go live on FOREX, we are this close, this is not just another “this weekend” message, WE ARE THERE I say close of Friday or opening on Sunday.
Guest on call states first hand he was there and that nothing but protests since Feb till now the report were targeted to come out today in the Masques today since they do not have TV or radio, their news was brought into the Masques being read to all the citizens saying “anything you have been asking for will be given and Tomorrow as it will be a great day by Maliki in the history of Iraq and they all left out of the Masques shouting and happy over the news……………..Barriers were removed and the press is walking freely to ask questions of the citizens now – The Iraq police are in plain clothes walking the streets from before it was so militant – things have changed and tomorrow the economy will be changed forever.
Tony states in Baghdad High Ranking REPS from every country are over there and 1000′s of news media there shows something is UP and with the news media filling the parking lots outside the US Treasury building right now something is happening – so go have a great weekend its going to be a grand week.
Remember the revaluation does not have a time line – they could say all buying and selling of a basket of currencies are suspended selling and here is the rate and you can’t do this during a market time or it will cause a down time………… regardless of what time this RV’s some market somewhere will be open or closed……… Dan says he believes they will suspend sales on any currency where the rate will change.
Dan and Tony states If super fantastic news comes in we will have an emergency call and give you and hour advance notice other than that keep an eye out on the forum on the boards as we will post updates there…
50 Things Every American Should Know About The Collapse Of The Economy
The Economic Collapse
Right now, we are witnessing a truly historic collapse of the economy, and yet most Americans do not understand what is going on. One of the biggest reasons why the American people do not understand what is happening to the economy is because our politicians and the mainstream media are not telling the truth. Barack Obama and Federal Reserve Chairman Ben Bernanke keep repeating the phrase "economic recovery" over and over, and this is really confusing for most Americans because things sure don't seem to be getting much better where they live.
There are millions upon millions of Americans that are sitting at home on their couches right now wondering why they lost their jobs and why nobody will hire them. Millions of others are wondering why the only jobs they can get are jobs that a high school student could do. Families all across America are wondering why it seems like their wages never go up but the price of food and the price of gas continue to skyrocket. We are facing some very serious long-term economic problems in this country, and we need to educate the American people about why the collapse of the economy is happening.
If the American people don't understand why they are losing their jobs, why they are losing their homes and why they are drowning in debt then they are going to keep on doing all of the same things that they have been doing. They will also keep sending the same idiot politicians back to Washington to represent us. There are some fundamental things about the economy that every American should know. The American people need to be shocked out of their entertainment-induced stupor long enough to understand what is really going on and what needs to be done to solve our nightmarish economic problems. If we do not wake up enough Americans in time, the economic collapse that is coming could tear this nation to shreds.
The U.S. economy was once the greatest economic machine in modern world history. It was truly a wonder to behold. It worked so well that entire generations of Americans came to believe that America would enjoy boundless prosperity indefinitely.
But sadly, prosperity is not guaranteed for any nation. Over the past several decades, some very alarming long-term economic trends have developed that are absolutely destroying the economy. If dramatic changes are not made soon, a complete and total economic collapse will be unavoidable.
Unfortunately, the American people will never agree to fundamental changes to our economic and financial systems unless they are fully educated about what is causing our problems. We have turned our backs on the principles of our forefathers and the principles of those that founded this nation. We have rejected the ancient wisdom that was handed down to us.
It has been said that those that sow the wind, shall reap the whirlwind.
We are about to experience the consequences of decades of really bad decisions.
Hopefully we can get the American people to wake up.
The following are 50 things that every American should know about the collapse of the economy....
#1 Do you remember how much was made of the "Misery Index" during the presidency of Jimmy Carter? At that time, the "Misery Index" was constantly making headlines in newspapers all across the country. Well, according to John Williams of Shadow Government Statistics, if we calculated unemployment and inflation the same way that we did back during the Carter administration, then the Misery Index today would actually be higher than at any point during the presidency of Jimmy Carter.
#2 According to the U.S. Bureau of Labor Statistics, an average of about 5 million Americans were being hired every single month during 2006. Today, an average of about 3.5 million Americans are being hired every single month.
#3 According to the Wall Street Journal, there are 5.5 million Americans that are currently unemployed and yet are not receiving unemployment benefits.
#4 All over America, state and local governments are selling off buildings just to pay the bills. Investors can now buy up government-owned power plants, prisons and municipal buildings from coast to coast. For example, the mayor of Newark, New Jersey recently sold off 16 government buildings (including the police and fire headquarters) just to pay some bills.
#5 When Americans think of "government debt", most of them only think of the federal government, but it is not just the federal government that has a massive debt problem. State and local government debt has reached an all-time high of 22 percent of U.S. GDP.
#6 If you can believe it, one out of every seven Americans has at least 10 credit cards.
#7 Credit card usage in the United States is on the increase once again. During the month of March, revolving consumer credit jumped 2.9%. Sadly, it looks like Americans have not learned their lessons about the dangers of credit card debt.
#8 Last year, Social Security ran a deficit for the first time since 1983, and the "Social Security deficits" in future years are projected to be absolutely horrific.
#9 The U.S. government now says that the Medicare trust fund will run out five years faster than they were projecting just last year.
#10 Right now we are watching what could potentially be the worst Mississippi River flood ever recorded play out right in front of our eyes. One agricultural economist at Mississippi State University believes that this disaster could do 2 billion dollars of damage just to farms alone.
#11 The "tornadoes of 2011" that we just saw in the southeast United States are being called the worst natural disaster that the U.S. has seen since Hurricane Katrina. It has been estimated that up to 25 percent of all of the poultry houses in Alabama were either significantly damaged or destroyed. It is also believed that millions of birds were killed.
#12 The economic effects of the BP oil spill just seem to go on and on and on. The number of very sick fish in the Gulf of Mexico is really starting to alarm scientists. The following is how one local newspaper recently described the situation....
Scientists are alarmed by the discovery of unusual numbers of fish in the Gulf of Mexico and inland waterways with skin lesions, fin rot, spots, liver blood clots and other health problems.
#13 The number of "low income jobs" in the U.S. has risen steadily over the past 30 years and they now account for 41 percent of all jobs in the United States.
#14 All over America, hospitals that care for the poor and needy are so overwhelmed and are so broke that they are being forced to shut down. Recently, a local newspaper in Florida ran an article about two prominent charity hospitals in Illinois that have served the poor for more than 100 years but are now asking for permission to shut down....
Two charity hospitals in Illinois are facing a life-or-death decision. There's not much left of either of them - one in Chicago's south suburbs, the other in impoverished East St. Louis - aside from emergency rooms crowded with patients seeking free care. Now they would like the state's permission to shut down.
#15 The U.S. dollar is in such bad shape that now even Steve Forbes is predicting that the U.S. is "likely" to go back to a gold standard within the next five years.
#16 Most Americans don't realize how much the U.S. dollar has been devalued over the years. An item that cost $20.00 in 1970 would cost you $115.93 today. An item that cost $20.00 in 1913 would cost you $454.36 today.
#17 Over the past 12 months the average price of gasoline in the United States has gone up by about 30%.
#18 U.S. oil companies will bring in about $200 billion in pre-tax profits this year. They will also receive about $4.4 billion in specialized tax breaks from the U.S. government.
#19 It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year. Their biggest customer is the United States.
#20 According to the Pentagon, there are minerals worth over a trillion dollars under the ground in Afghanistan. Now, J.P. Morgan is starting to tap those riches with the help of the U.S. military.
#21 Speaking of J.P. Morgan, most Americans don't realize that they are actually the largest processor of food stamp benefits in the United States. In fact, the more Americans that go on food stamps the more money that J.P. Morgan makes.
#22 When 2007 began, there were about 26 million Americans on food stamps. Today, there are over 44 million on food stamps, and one out of every four American children is on food stamps.
#23 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid.
#24 Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in all of U.S. history.
#25 The financial system is more vulnerable today than it was back in 2008 before the financial panic. Today, the world financial system has been turned into a giant financial casino where bets are made on just about anything you can possibly imagine, and the major Wall Street banks make a ton of money from this betting system. The system is largely unregulated (the new "Wall Street reform" law has only changed this slightly) and it is totally dominated by the big international banks. The danger from derivatives is so great that Warren Buffet once called them "financial weapons of mass destruction". It is estimated that the "derivatives bubble" is somewhere in the neighborhood of a quadrillion dollars, and once it pops there isn't going to be enough money in the entire world to bail everyone out.
#26 Between December 2000 and December 2010, the United States ran a total trade deficit of 6.1 trillion dollars with the rest of the world, and the U.S. has had a negative trade balance every single year since 1976.
#27 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001, and the U.S. trade deficit with China is now 27 times larger than it was back in 1990.
#28 In 2010, the number one U.S. export to China was "scrap and trash".
#29 All over the United States, many of our once great manufacturing cities are being transformed into hellholes. In the city of Detroit today, there are over 33,000 abandoned houses, 70 schools are being permanently closed down, the mayor wants to bulldoze one-fourth of the city and you can literally buy a house for one dollar in the worst areas.
#30 During the first three months of this year, less new homes were sold in the U.S. than in any three month period ever recorded.
#31 New home sales in the United States are now down 80% from the peak in July 2005.
#32 America's real estate crisis just seems to get worse and worse. U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble.
#33 According to a new report from the AFL-CIO, the average CEO made 343 times more money than the average American did last year.
#34 The European debt crisis could cause a global financial collapse like the one that we saw in 2008 at any time. The world economy is incredibly interconnected today, and the United States would not be immune. A recent IMF report stated the following about the growing sovereign debt crisis in Europe....
Strong policy responses have successfully contained the sovereign debt and financial-sector troubles in the euro area periphery so far. But contagion to the core euro area and then onward to emerging Europe remains a tangible risk.
#35 According to one study, the 50 U.S. state governments are collectively 3.2 trillion dollars short of what they need to meet their pension obligations.
#36 A different study has shown that individual Americans are $6.6 trillion short of what they need to retire comfortably.
#37 The cost of college tuition in the United States has gone up by over 900 percent since 1978.
#38 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.
#39 One study found that approximately 41 percent of working age Americans either have medical bill problems or are currently paying off medical debt.
#40 The combined debt of the major GSEs (Fannie Mae, Freddie Mac and Sallie Mae) has increased from 3.2 trillion in 2008 to 6.4 trillion in 2011. Thanks to our politicians, U.S. taxpayers are standing behind that debt.
#41 The U.S. government is over 14 trillion dollars in debt and the budget deficit for this year is projected to be about 1.5 trillion dollars. However, if the U.S. government was forced to use GAAP accounting principles (like all publicly-traded corporations must), the U.S. government budget deficit would be somewhere in the neighborhood of $4 trillion to $5 trillion each and every year.
#42 Most Americans don't understand that the Federal Reserve and the debt-based monetary system that it runs are at the very heart of our economic problems. All of this debt is absolutely crushing us. The U.S. government spent over 413 billion dollars on interest on the national debt during fiscal 2010, and it is being projected that the U.S. government will be shelling out 900 billion dollars just in interest on the national debt by the year 2019.
#43 Standard & Poor’s has altered its outlook on U.S. government debt from "stable" to "negative" and is warning that the U.S. could soon lose its AAA rating.
#44 In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for 18.4% of all income.
#45 U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes.
#46 59 percent of all Americans now receive money from the federal government in one form or another.
#47 According to Gallup, 41 percent of Americans believed that the economy was "getting better" at this time last year. Today, that number is at just 27 percent.
#48 The wealthiest 1% of all Americans now own more than a third of all the wealth in the United States.
#49 The poorest 50% of all Americans collectively own just 2.5% of all the wealth in the United States.
#50 The percentage of millionaires in Congress is more than 50 times higher than the percentage of millionaires in the general population.
theeconomiccollapseblog.com/
You're right P.C. people are getting worried, desperate, and pissed off!! We are headed in the wrong direction and reading a rant such as that goes to show you that this is coming to a boiling point!!
This is a good rant that I found on another site:
Dollar is in it's death throes!!!!
We are now in a propaganda stage as far as our currency goes.
The six fastest growing economies have dumped the dollar as a trading vehicle. India just bought their oil in rubees, and everyone is dumping the dollar and our treasuries. Hong Kong is opening up their own metals exchange in order to get around the obvious manipulation of the metals and escape the silver paper traders on Wall Street here in the U.S.. Only under the careful watch of the comex police could a commodity that is fast evaporating and in ever increasing demand plummet almost 30% in only a few days time. Let's put it this way, name one thing that has improved over the last two years since the last break down in our economy. Just one.
Housing is collapsing still, and even further as we speak.
Commercial real estate is collapsing.
Student loans are now a larger debt than the housing bubble.
Trade deficits are widening.
State budgets are even further in the hole and bankrupt.
Muni bonds are tanking.
Social Security has officially gone into the red.
The National Debt has gotten larger.
More people are unemployed.
More of our industries have left the country.
The entire gulf fishing industry has been destroyed.
The Fed has become the largest buyer of stocks.
The Fed is still printing money.
The Fed has become the largest buyer of our treasuries.
This doesn't even touch on the derivatives market, which is a lie.
More countries are leaving our currency by the day, and from now on when the Fed buys stocks, juices treasuries, or spends any more tax payer money on bailing out private corporations turning private debt into IRS enforced tax debt, well guess what, all that money isn't going to be spread out on a global scale to all the countries around the world holding the dollar, oh no, all the money printing is going to come out of your saving account, your grocery bill, your gas bill, and then you can pay it back with more taxes to cover all that debt! This charade is over!
Anyone still pretending that the debt is repayable is delusional. Every working person living in the United States would owe over a million dollars per person! It's so unbelievably over, and to watch any politician get up in front of the people of this country and pretend or make believe that everything is fine, or if we raise some stupid tax we'll be fine. All of these candidates that get up there pretending we can somehow recover at this point! It's so pathetic.
If your receiving candy from this government you better get use to the idea of what is to come.
Old people, your not going to get a dime. You were lied to, the big government that you loved stole everything you put into this system your hard earned money was stolen and spent years ago, and I'm not paying for your gullibility.
Minorities who think they are owed something just for being born and all those of any race that are too lazy to even try, thanks, all your belly aching about your entitlements, and what the gumment owed you has all come to a head.
You have successfully turned the USA into a third world nation, complete without welfare, food stamps, medicare, medicade, or any other entitlement government tit sucking program.
Hope you enjoy what you all have helped create.
Government workers, I can't wait to see you blood suckers all sitting at home enjoying the unemployment, and the non productivity you have helped create.
You are no longer public servants but tyrants in every since of the word, thugs, mafia.
Your pensions will be worthless, and all your benis will be a thing of the past.
You destroyed our freedoms, and your greed was so excessive that you sucked all the life out of your host until it was too weak to continue living.
You agreed to hand over all our money to the banks and Wall Street and turned our country into a fascist nation.
What I will enjoy more than your collapse is that I wont have to pay you anymore for this bullshit you labeled as freedom!
Thank you!
Big Business and Wall Street, thank you sooo much for rigging our elections our tax codes, exporting our work force, exporting our industries, and doing whatever you could for the bottom dollar for the reporting quarter of business. Thank you for allowing me to pay for your stupidity with my tax dollars as the Government turned your debt into my personal debt. MR. TOO big to fail.
Guess what dip shits your now out of quarters in the literal since. Game over bitches!
wait until QE3 hits and the real fun begins
they will never choose deflation because the printing press always wins and who will buy the gov debt anyway ?
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi
Bankers: (aka Federal Reserve, and their IMF loving global banker friends)
There is a special place in hell for you. Fractional reserve banking is nothing more than theft of a mans life. Your lending something you don't even have so that a man can work half his life to pay back to you what you never had to lend.
You have done the same thing to our country. Lending money you never had in order to turn us all into Social Security card carrying tax slaves. You created the 16th amendment, and up until that point there was no Federal Income tax. You created the IRS to collect the money you thought was owed to you, once again the money lent you never had. You have financed our wars from both sides, and sought to create a global currency that would place you above all standing armies, above all countries, and above all people of the world. You even rigged this collapse off of the endless greed of the people that were willing to go along with you. You destroyed our looted our nation and destroyed our currency. You have sold all of us into slavery, and if world war three breaks out, I hope that it is against the bankers.
Just look at the difference between Greece and Iceland. Greece told you they would pay you all back, and now they are slaves. Iceland told you to shove it up your ass, and now they are free!
I guess it can't go straight down!!! Just as the price of everything can't go straight up!! The overall trend is still intact because the cards have already been dealt, the world is just trying to figure out how to play them...
QE3 And the Silver Entry Point
John Rubino
With QE2 scheduled to wind down this summer and millions of American voters still unemployed, it was clear that the Fed was itching to keep the monetary spigot open. But how would that be possible with oil, food, and precious metals at or near historic highs and the dollar at multi-year lows? Clearly, something would have to happen to justify QE3.
Now we know what. On April 27 the Fed confirms that QE2 will end pretty soon, and one week later a slew of bad economic numbers just happen to hit the headlines. First-time jobless claims, productivity, consumer confidence all suddenly appear to contradict the idea that a sustainable recovery is underway. Stocks tank, oil falls, and gold and silver retrace their post-Bernanke press conference parabolic spikes. The economy is suddenly looking double-dipish.
This might be pure coincidence, of course, but the timing is definitely propitious for a government that 1) knows it has to inflate away the dollar if it's to have any hope of maintaining its global military empire and cradle-to-grave welfare system, and 2) has an election coming up in which a roaring 2012 economy is crucial.
Now get ready for the spread of the 1931 meme, in which the current false spring is compared to the one that preceded the descent into the Great Depression. Talking heads will demand action, government officials will claim to be watching the situation closely, and economists will start debating the form of the next stimulus plan. Then - with plenty of time for the folks in power to claim credit during the election campaign - Washington will announce something that puts QE2 to shame. Shock and awe on a Krugmanesque scale will hit the markets. And the plan to inflate away the dollar will really get going.
No real surprises here, but a dilemma for investors. How much trauma will the financial markets have to suffer before it's a "crisis" capable of justifying QE3? What level on the Dow are we talking about? And where will gold, silver and oil have to go to wash away those pesky inflationary expectations? Put another way, where is the entry point for the next - inevitable - parabolic move up? Is it $30 silver or does the plan require $20?
It's safe to say that the entire sound money world has spent the past six months wishing we'd mortgaged the house and bought Silver Eagles. Now, just maybe, we're getting one last chance...
QE3 And the Silver Entry Point
John Rubino
With QE2 scheduled to wind down this summer and millions of American voters still unemployed, it was clear that the Fed was itching to keep the monetary spigot open. But how would that be possible with oil, food, and precious metals at or near historic highs and the dollar at multi-year lows? Clearly, something would have to happen to justify QE3.
Now we know what. On April 27 the Fed confirms that QE2 will end pretty soon, and one week later a slew of bad economic numbers just happen to hit the headlines. First-time jobless claims, productivity, consumer confidence all suddenly appear to contradict the idea that a sustainable recovery is underway. Stocks tank, oil falls, and gold and silver retrace their post-Bernanke press conference parabolic spikes. The economy is suddenly looking double-dipish.
This might be pure coincidence, of course, but the timing is definitely propitious for a government that 1) knows it has to inflate away the dollar if it's to have any hope of maintaining its global military empire and cradle-to-grave welfare system, and 2) has an election coming up in which a roaring 2012 economy is crucial.
Now get ready for the spread of the 1931 meme, in which the current false spring is compared to the one that preceded the descent into the Great Depression. Talking heads will demand action, government officials will claim to be watching the situation closely, and economists will start debating the form of the next stimulus plan. Then - with plenty of time for the folks in power to claim credit during the election campaign - Washington will announce something that puts QE2 to shame. Shock and awe on a Krugmanesque scale will hit the markets. And the plan to inflate away the dollar will really get going.
No real surprises here, but a dilemma for investors. How much trauma will the financial markets have to suffer before it's a "crisis" capable of justifying QE3? What level on the Dow are we talking about? And where will gold, silver and oil have to go to wash away those pesky inflationary expectations? Put another way, where is the entry point for the next - inevitable - parabolic move up? Is it $30 silver or does the plan require $20?
It's safe to say that the entire sound money world has spent the past six months wishing we'd mortgaged the house and bought Silver Eagles. Now, just maybe, we're getting one last chance...
SHAKEOUT IN GOLD & SILVER? Don't Panic! Mike Maloney & James Anderson
SHAKEOUT IN GOLD & SILVER? Don't Panic! Mike Maloney & James Anderson