End Game, Gold Investors Will be Destroyed

Market Oracle ^ | June 15, 2010 | Shelby H. Moore

[Errant]

"...there is a group of elite (the leaders of the banksters wolfpack) who control the majority of the world's gold, and they are above the law and do not pay taxes, because they print our money and they make our laws. They were adding to their enormous historical gold hoard at the bottom in price, when they ordered the Central Bank to sell and lease it. I am not referring to the people we see on TV, but the untouchables such as Rockefellers and Rothschilds, who are at the highest levels. Note I am not making a specific allegation against any person or family, just using those names since many people associate them with the inner elite circle. Rothschild wrote, "he who owns the gold, makes the rules". I will add to that, "he who owns the most gold, doesn't pay taxes, because he makes the rules"..."

"...I am not arguing that we should not retain some physical gold+silver for small time bartering and for insurance against other possible outcomes and if necessary to physically escape some war of fascist environment. I am arguing that we should not have our entire networth in physical metals and those hoarding metals hoping to become super-rich are in the words of a Treasury official, "going to have their arms burned up to their armpits..."

[bannie]

:-) Danke!

[2aberro]

Whatever you kill will be gone in less than a year. Think of Stalingrad and Leningrad. The people with the pink complexion are the ones that dined on you the previous evening. You are new here. Think about it.

You must live in the city,,, I don't. New here? Been here for over six years,, but whose counting...

[Errant]

Bernanke: ‘Things Will Come Apart’ If Entitlements Are Not Reformed and Spending Controlled
Thursday, June 10, 2010
By Matt Cover, Staff Writer

(CNSNews.com) – Federal Reserve Chairman Ben Bernanke delivered a frank assessment to Congress on the fate of the economy if entitlement programs are not restructured. On Wednesday, Bernanke warned that “things will come apart” if Congress allows the federal entitlement programs and the deficit spending they cause to continue on their unsustainable path.

Speaking at a hearing of the House Budget Committee, Bernanke offered his dire prediction after being asked what would happen if Congress did not take action to head off the impending crisis brought on by unsustainable entitlement spending, led primarily by Medicare.

“The entitlement programs are not self-funded,” Bernanke said, “they are unfunded liabilities. They are the single biggest component of spending going forward.”

Bernanke said that there were several ways Congress could fix these problems, which amount to approximately $53 trillion in unfunded liabilities, but that eventually Congress must address the issue.

“There are various ways you could address this – you can restructure entitlement programs [or] you can cut other things – but at some point you need to address the overall budgetary situation. If you don’t, you’ll get a picture like this one [pointing to a graph showing a steep rise in interest rates and debt] where interest rates are rising and debt outstanding is growing exponentially.

[Errant]

From Jim Sinclair:

Dear Extended Family,

You know that I practice what is written. As an example of that, please see the December 2001 career review about me that was carried in Forbes.

I live in a totally rural area of North Western Connecticut. I firmly believe that utilities are not one of your civil rights.

There are 14,000 gallons of buried fuel made up of heating oil, diesel and gasoline. The entire property can be run by my 2x 20,000 KW marine diesel engine electric generators without any need for conservation. There are four drilled wells that feed into an underground holding tanks room in which there are two 4500 gallon tanks with only their face showing on one wall.

The 9000 gallons of fresh water goes from the underground room into a 500 gallon holding tank in the house. I have three distillers that make water as Connecticut water is always hard. There are intruder lights at all entrances to the property. All driveways have metal detectors.

There is a 16 camera 24 hour security system that plays on any computer I use. The security system not only shows the office entry but also scans the property and inside the barns. They can be downloaded onto a hard drive and take recorded pictures, time dated, triggered by motion.

I have a 65 foot indoor pistol range capable of taking .50 caliber rounds into a Detroit bullet trap underground in a field. The range takes 800 cubic feet of air down range and exhausts into a field so you do not die from inhaling your hobby.

We do farm equipment and auto repair, painting, carpentry and masonry (with the exception of chimneys) ourselves.

We have a heavily populated 90,000 gallon fish pond. My root cellar is 16 by 16 by 10. My long dormant hen house is being resuscitated.

We are over ridden by deer and in need would have no problem laying up meat.

The equipment required for all tasks from farming to all kinds of hunting is in over supply. I am trained in all the talents of taking care of myself.

Having spent many years living in developing nations in Asia and Africa, this is simply how I have lived.

Why you ask, in North America? The answer is simple.

It follows directly on Bill’s question today concerning the proverbial but purely semantical argument of inflation vs. deflation. Hyperinflation, a currency event which is certain to occur, will disrupt for economic reasons the distribution of food, bottled water, medicine and utilities.

The currency event will be that of the entire Western world, not simply the dollar. It is not the lack of these items as much as it is the disruption economically of the means of distribution that require us all to think beyond gold.

Vacation homes in rural settings are smashed price wise. Owning such a residence might enhance normal family life, and become an island for those few months when distribution collapses due to hyperinflation.

Don’t laugh, it is going to happen to some degree.

The most fun is my garden pictured below. A garden plus a root cellar means storage over the winter months for important natural food items. Our apple crop, that which is not made into sauce or cider, goes into a walk in frost room for preservation.

[Errant]

(Greek) Hospitals near meltdown - suppliers owed $6.8 billion

An example of a debt crisis that could trigger a chain reaction leading to worldwide economic meltdown. While Greece may not have the critical debt mass necessary, Italy or Spain with trillion dollar deficits or multiple countries defaulting do.

[Errant]

Local Government Bankruptcies May Become Reality

With Michigan cities facing budget crises, many experts say the worst is yet to come, and some believe the state will begin to see municipal bankruptcies. Pressure from both the revenue and spending sides is creating the risky financial situations. Some say it may be the worst since the Great Depression.

[Errant]

Forecasting the Next Crisis

“Estimates say that the average debt in the richest nations will exceed one hundred percent by the year 2011,” he says.

[Atlas Sneezed]

Fact is, if things ever got bad enough, ya could trade hand full of gold for a ham sandwich....

---

Except for an absurd desert island shipwreck scenario (I’m not a sailor) your point is utterly ridiculous, and unsupported by any evidecne in human histiry (other than equally improbabl scenarios).

[Atlas Sneezed]

Ooooh, did I ever rile folks up here who think they’re going to buy food with gold. Hate to tell them, if there is no food then no amount of gold will make a loaf of bread appear. You have the right idea with dirt. Dirt will provide that loaf of bread. Just make sure that dirt is protected with some brass.

---

I guess you never heard of “farming.” It’s been pretty popular through all of human history. Basically, it works like this: “Farmers” have “dirt” and they grow “food” in it. By growing more food than they need (otherwise, we’d call them “garderners”) they generate a surplus, which they can exchange for other stuff they need more than excess food. because the guy who needs a bushel of wheat might no have the plow component the farmer needs, they usually use some “medium of exchange” (aka “money”) so the farmer gets something like, say...GOLD (or silver for small purchases, or gold to pay off an accounting of multiple purchases) and he spends the gold with the part supplier.

So as has been the case throughout human history, you CAN in fact make a loaf of bread appear with only a very small amount of gold.

If you still don’t get it, remember that the farmer doesn’t trade the food for gold because he wants gold, he trades it for gold because he wants the stuff gold buys.

[Atlas Sneezed]

Folks who own gold take owning gold quite seriously.

---

That’s also generally true of people who have fire extinguishers, and people who buy fire insurance.

[Errant]

This is an article that appeared today on the Afganistan deposits.

Analysis: Did the "gray lady" get played?

[Sawdring]

Is it "Special Olympics" night on FR or something?

You must be new around here. I assume you know that there is no historic collapse where every economy on the planet is dependent on each other for economic survival. You have to rely on the imaginations of writers and futurists to get some insight. Anyway, my post was meant in jest because of the hundreds of Gold threads that I have seen. Usually in every thread you have the "you can't eat Gold," "Gold isn't an investment, its a hedge against inflation," and "one ounce of Gold is always worth about what a good suit will cost," "Gold isn't used for anything in manufacturing so keep Silver," "I keep food, supplies and my favorite metal: Lead instead of Gold," etc.

I don't understand why you would bring up Special Olympics, it is a great organization that helps people in need. I hope you were not denigrating it.

[taildragger]

Fine, if you want to give Achmed down at the 7-Eleven a one ounce Kruggerand for a loaf of bread........cause that’s exactly what would be demanded.

Screw Achmed and the camel he road in on.

Build a cadre of neighbors you can trust, stock up on flour and bake your own bread.

Save the gold or silver for buying off a pharmacist to get the antibiotics you need for your kids if they get sick.

Save it for the important stuff, do without or do it yourself.

[ikka]

I apologize for mis-interpreting your post, I rarely watch Youtube videos... FWIW you can check the join date of a member by moving the mouse pointer over their name on any of their posts.

[Errant]

Spain's Financial System on the Verge of Collapse or Speculators Are Exaggerating Banks Vulnerability

[Errant]

Exerpt from: http://www.marketoracle.co.uk/Article20363.html

To give you an idea about what a hyperinflation looks like, here are some excerpts from The Nightmare German Inflation:

By 1923, the wildest inflation in history was raging. Often prices doubled in a few hours. A wild stampede developed to buy goods and get rid of money. By late 1923 it took 200 billion marks to buy a loaf of bread….Millions of the hard-working, thrifty German people found that their life's savings would not buy a postage stamp. They were penniless….By mid-1923 workers were being paid as often as three times a day. Their wives would meet them, take the money and rush to the shops to exchange it for goods. However, by this time, more and more often, shops were empty. Storekeepers could not obtain goods or could not do business fast enough to protect their cash receipts. Farmers refused to bring produce into the city in return for worthless paper. Food riots broke out. Parties of workers marched into the countryside to dig up vegetables and to loot the farms. Businesses started to close down and unemployment suddenly soared. The economy was collapsing….Meanwhile, middle-class people who depended on any sort of fixed income found themselves destitute. They sold furniture, clothing, jewelry and works of art to buy food. Little shops became crowded with such merchandise. Hospitals, literary and art societies, charitable and religious institutions closed down as their funds disappeared.

[dennisw]

yeow!!!!

[Errant]

Spain plays high-stakes poker game with Germany as borrowing costs surge

Spain has upped the ante in a high-stakes poker game with Germany, pushing for the release of EU stress test results for major banks in a move that risks precipitiating a dramatic escalation of Europe's financial crisis.

"...Francisco Gonzalez, chairman of BBVA, stunned investors earlier this week by admitting that "the majority of the Spanish companies and financial groups are shut out of the international capital markets". He said the country's external debt had reached €1.5 trillion or 147pc of GDP, much of it on short-term maturities. "This debt has become our most overwhelming problem, since €600bn falls due this year," he said. ..."

Jobseekers line up at an employment office in Madrid, Spain.

[dennisw]

INFORMATIVE...but way espensive for me

[Sawdring]

you can check the join date of a member by moving the mouse pointer over their name on any of their posts.

I already know when you joined. You are still a newbie to me. I have five months on you. ;)