Still yourself! Ignore this New Years drama in the Precious Metals markets. These Precious Metals are going up this year, AGAIN! Of this, have no doubt. No Hocus Pocus by government stooge run Commodity indexes is going to stop that. No blah-blah-blah or yada-yada-yada from some paid shill on financial television is going to stop it. The price of Gold has to rise to save the global financial system. We have but one point to ponder: will the rise be fast, or will the rise be slow? The answer to that question lies with the Mother Of All Bubbles: The US Treasury market. Does the US Treasury market bubble simply deflate, or does it burst? Ignore the noise. Silence the conflict with one simple action: accumulate Precious Metals.
Was this economic crisis planned?
Way back in 1928, Edward Bernays wrote in his work, "Propaganda," the following: "The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government, which is the true ruling power in our country. We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of."
http://wnd.com/index.php?fa=PAGE.view&pageId=85438
Central banks don't mind any amount of loss in gold
To central banks, the loss of value of gold reserves, the surreptitious rigging of markets, the cheating of all sorts of investors, workers, and countries, and the destruction of democracy seem like a tiny price to pay for the maintenance of the value of their currencies and bonds.
Compared to those currencies and bonds gold looks very small. In fact it is more powerful than all of them put together. It is the liberator of the producing class, which is why the financial class struggles so to suppress it. It could destroy them in an instant.
http://gata.org/node/7066
The Economy:
There were no major economic reports today, but the ADP Employment report showed a greater than expected loss of 693,000 jobs in December, “the most since ADP Employer Services began its gauge based on payroll data in 2001.”
Also of economic note today:
“The U.S. budget deficit will swell to a record $1.186 trillion in fiscal 2009 as the global recession saps the economy, congressional forecasters said on Wednesday.”
“Applications for U.S. residential mortgages slipped from a five-year high last week as homeowners delayed refinancing ahead of expected federal action to lower housing costs, an industry group said on Wednesday.”
The American Bankers Association also reported consumer loan late payments at a 28-year high.
http://news.goldseek.com/GoldSeeker/1231390800.php
BUCKLE UP
By James R. Cook
The money managers, the talking heads on financial TV, and the perma-bulls have been proven wrong. It’s time to start listening to the people who have been right. They have all warned about the dangers of runaway money and credit expansion. Most people are still underestimating the extent of this crisis. They are hoping the stock market will recover and everything will go back up again as it has done before. What will happen is unknown, but it’s dangerous to base your beliefs on the things you want to have happen. If you only want to listen to Wall Street types who constantly express optimism, you can lose even more.
James Quinn conveys this worrisome message. "There are $50 trillion of credit default swaps still outstanding. The hundreds of billions in taxpayer funds that have been poured into AIG have been used to pay out CDSs [credit default swaps]. According to the brilliant bank analyst, Chris Whalen, at least $15 trillion of these CDSs will need to be paid out. All the Central Banks in the world cannot create that much paper out of thin air."
Quinn continued, "Colossal amounts of credit card debt and auto loans will be defaulting in 2009. Consumers currently owe $2.6 trillion of consumer debt, up from $2.1 trillion in 2004, or a 24% increase….With 3 million more job losses in 2009, the credit card losses will be much greater than $100 billion. JP Morgan, Bank of America, and Citigroup will sidle up to the taxpayer trough again due to these unforeseen losses. Nationwide, an estimated $575 billion in new and used auto loans are written every year by auto manufacturers, banks, credit unions and other lenders…..With the average length of auto loans exceeding 5 years and the tremendous downturn, there are millions of consumers underwater with their car loans…..It is quite clear that consumers are collapsing. The toxic combination of reduced spending and mass layoffs will bring down the last remaining pillar of the economy, commercial real estate…..After the coming horrific holiday sales, weak heavily indebted retailers will be filing for bankruptcy en mass. Mall owners that had expanded hastily with generous amounts of debt in the last few years will see rents dry up and their debt payments will choke them to death…..Office occupancy will decline and rental income will tank."
Editor Clive Maund warns, "Watching investors fleeing into the perceived safety of US Treasuries is akin to watching people board the Titanic in the movie – you know that they are doomed. This is because the United States is totally bankrupt – more than bankrupt in fact, since its debts are physically impossible to repay in any circumstances and what we are witnessing now is the cowards way out – the creation of money in whatever quantity is necessary to prevent total gridlock…..This has one inevitable outcome – hyperinflation, which, incidentally, can take hold even in conditions of deepening recession/depression."
Finally, editor Ned Schmidt predicts, "With the Federal Reserve committed to unlimited creation of dollars and Obama committed to unlimited government spending, the U.S. dollar’s value could become the Dog of 2009…..Obama will be like a gift falling from the sky to gold [and silver] investors."
http://www.investmentrarities.com/12-2008mid2.html
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