Stacy Summary: The billionaires are preparing while the ‘middle class’ still hold out hope, diving back into the housing and equity markets hoping for, praying for one last chance at the wheel of fortune. Once these desperate speculators realize that they all collectively bet on red by betting on asset price inflation as retirement plan . . . there will be unrest, according to South African billionaire, Johann Rupert. What do you think???
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Brandon, There’s no reason to invade Mexico. We already have NAFTA (our corporations have access to cheap labor there already), and Mexico is running out of oil.
I’m convinced the US will use the crisis with swine flu and the drug war in Mexico to invade the nation. I’m very worried about this. I think the banksters see Mexicans as great ways to continue to drive down American wages. They also want oil.
the usury reserve banking system must be smashed, never to return again. Print up enough to cover mintage and that’s it. Why do I owe the govt interest on making the only legal tender in the country.
Greetings,
The Red Brigade isn’t a very good example of a “peoples uprising.” Operation Gladio was a NATO operation that staged terror, false flag operations, coups and other crimes against the people of Europe. I do believe there will be mass demonstrations but most of these groups will be infiltrated by government ops so that the powers that be can tighten their grip on the citizenry. The police are being militarized and they are waiting for the first salvo of any resistance to come to the fore. The answer is to end the Fed and the central bankers rule over our money and then we should start the executions and trials of these vampires. There will be blood in the streets if the people ever get to the point of taking back their right to coin and control their own money.
@ Stacy, Yes, the 50% drop is pretty remarkable. It’s no wonder the Governator is toeing the fine line of starting a debate about legalizing pot. I think the speed in which California has gone to hell puts it at risk for unrest, too. Think of somewhere like Michigan, where people fully expect unemployment to hit 20% state-wide by the end of the year. That’s really rough, but the state has been hurting for a very long time, and folks have adjusted to that. It’s much harder for people to adjust when their standard of living tanks as fast as is the case in California.
@ Scott, with all due respect, what I think is lame are states making constitutional claims and wanting to leave the union amidst an economic depression. In a sense, it seems like a form of denial. “We don’t want to experience this, so we’ll just leave . . . until we have a natural disaster or something and need additional $ from the federal government.”
If we have hyperinflation in the US you will see US states dumping the dollar and creating their own currencies. I wonder if Kentucky left the union there could be a fight over gold. They will bring their national guard troops home too and stop paying taxes to Washington.
I think here in the US, as long as the MSM plays along with the current administration, I don’t think violence and unrest will result out of 401ks vanished. I see high taxes, price controls, rationing, forced volunteering and an exuberance of “change” before unrest (maybe it’s because I live in CA, the biggest blue state).
Let’s face it, not too long ago Obama was saying that investing in stocks was a “good deal”, and now his adherents are saying the “worst may be over” . If their advice tanks, they just blame capitalism or Bush.
I think the real violence and unrest will be a result of some states trying to assert their 10th amendment right while the federal govt attempts to deny it.
lame….
@Mep – good point re: California. I think you are right. It’s the first place. I was shocked by the 50%+ declines in tax revenue. Amazing.
A PBGC-Goldman/JPMorgan link? I’m shocked . . . shocked, I tell you!
@ California, if and when riots erupt in the US, I expect them to begin in California. With the layoffs, furloughs, firings, social spending cuts, water shortages, tent cities, etc. –the conditions are ripe for unrest.
I would like to see the current crop of corrupt politicians, self-serving monopolists, and greedy union members disenthroned and positions of authority refilled by true public servants acting with the best of intentions. It is not clear that this nation will survive as a great State under its present leadership.
The best way to accomplish such a change is through the electoral process. Revolutions have been the historical method for routing out the elite misfeasants, malefactors, and nonfeasors, but I am not so sure that revolts would be very effective in modern times.
About revolts:
There is a wonderful little book, now available in English, which presents, in fine detail, methods for thwarting the intentions of an occupying force. It is: von Drach, H. (1992). “Total resistance: Swiss army guide to guerrilla warfare and underground operations.” Boulder, CO: Paladin Press.
The methods presented in this book were formerly very effective in frustrating an occupying aggressor and forcing same into a defensive, “circle the wagons” mentality. However, today, with the high-tech weaponery available to the defenders of the State, these methods would result in only the sudden demise of the perpetrators.
The elites now control weapons so precise and terrifying that crowd control is swift and sure; are able to eavesdrop on conversations and data transmissions at will; can track the movements of anyone they choose via satellite cam; and can project extreme violence to any quarter of the globe they deem necessary.
Also, critical thinking has long been supplanted in the West by various forms of bread and circuses. The population is almost wholly compliant with the dictates of its controllers. Any widespread, violent revolt against the established order would be quickly put down, martial law placed into effect, and the key participants rounded up and severely punished. Any further revolutionary acts would be isolated and short lived. Matériel necessary for the pursuit of an extended revolution would not be available.
The net result of a popular uprising, in light of the superior power of the State, would be only further accrual of power to the State. I feel that the only forms of revolution practicable, under current geopolitical conditions, are those of a palace revolt, or military seizure of power.
Unfortunately, the movement leading towards one world government, with its attendant, planned depopulation (the Bilderbergers advocate total world population being limited at 275,000,000 people versus the current 6,000,000,000 – a 95% reduction!!!!!!) is well underway. We are little more than a nation of sleeping Dantons with Robespierre menacing our door.
If the Fed, Council on Foreign Relations, the UN, and the Democratic and Republican parties survive and prosper, We, the People, will surely not!
Anyone want to help me edit an article that is going to be published in my local paper? Below are the contents and I am sure I missing something. Any help that can be provided would be spectacular. My email is [email protected] –
I will NEVER believe in this paper money game ever again (stocks, bonds, and dollars). The insider trading, stock dilution, and propaganda spewed by these “financial experts” is utter nonsense. The fundamentals of the American economy are completely impaired and nothing has changed since the Bush TARP program and Obama corporate socialism programs were forced down the throats of the American public. The only reason we are having any sort of rally in the market is because of government funding and the hundreds of trillions in the dollar derivatives market has not even seen its unraveling. More substantial pain is to come.
The commercial real estate defaults are rising, which will call for more derivative contracts to be paid out with money that is not available to continue to fund the likes of AIG, JP Morgan, Goldman, etc. The Alt-A and Option Only ARMS are set to reset at the end of this year and beginning of next and the amount of money outstanding in these residential real estate markets dwarfs the sub-prime crisis that erupted last fall. Credit card defaults and college student loans are not being paid and derivates are tied to these as well. Unemployment continues and more defaults will cause the further unwinding of derivatives.
Wall Street and these investment options, touted by our retirement fund managers for my company, have been selling counterfeit government bonds and these same stock companies are heavily invested in derivatives related to the Alt-A, Option Only, and Commercial Real Estate market. The bailouts will continue and will include companies no one thought would need government funds. In fact, Life Insurance companies now are lining up for a bailout and pension funds will be next. This ponzi scheme has only begun to unravel and each time the government calls to bailout these companies, more US dollars will flood the market resulting in insane price inflation. Combined that with the fact that our foreign investors are deciding not to fund the increased wars and corporate welfare and you have a recipe for trillions of dollars flooding our US economy.
Because of this, I have shorted all of wife’s, my children’s, and my government bonds, US stocks, and any other paper money instruments. All of the liquidated funds have been invested into physical precious metals, food, and deleveraging of my family. Foreign stocks are another option, but still can fall prey to the same nonsense, theft, and fraud perpetuated by foreign counterparts of Wall Street, The Treasury, The Federal Reserve, Congress, and the White House. They are either incredibly inept or completely lying.
A vast majority of the American public do not understand the fiat money US dollar system in which we live and the advice that has been given by brokerage firms, the traders, and the sort (including the mainstream media) have done nothing but line their pockets at the expense of the unknowledgeable.
It is time for people to know the truth and Max and Stacey have been a few of the truth-tellers. Thanks guys. You are a blessing.
People seem to want to profit from the collapse. To outsmart others. They’re playing musical chairs on the titanic. Still not trying to be a part of the solution. If only they’d stop sending their energy to their enemies through globalist’s monopoly chains. There is the potential to bypass the dominant system and create thriving communities within a time frame that few would believe. But no, they’ll keep maneuvering within the paradigms given them. Investing in plunder, shopping at Jolly Roger’s, and grieving the continued destruction of their communities and personal lives. Good luck getting ahead of the herd that’s racing toward a cliff.
I wonder if those who shop at Big Box stores actually believe that when those store shelves are empty the farmer’s market is going to supply them. The farmer is going to sell to them from his small supply instead of to the people who have supported him/her for years? I doubt it. They’ll be a sea of desperate faces most will steel themselves to. After all, those desperate people blinded themselves to the only viable food system for years. They will likely still be dangerous like a drowning person. In denial, panicked, and with excuses for continued destructive behavior at the ready. Who would you supply?
hey, my point is that we all know there are lots of selfish people exploiting the situation to profit for themselves, and that the world in general is full of people serving their and their friends’ interests, but what is – at the end of it all – unusual about this?
Lazy scum!
Its not about the BNP its the fact they have to get off their arse to post them!
Mike
Here’s a model for public disobedience action: Postal workers refusing to spread right wing propaganda..
http://www.timesonline.co.uk/tol/news/uk/article6293374.ece
Another way is to make life extremely expensive for people you do not like..http://www.youtube.com/watch?v=ft1pXu3fNc0
Hi Stacy and Max
I agree with what Max & Stacy has been telling everybody since last 4-5 yrs. Everything is turning out to be true. Governments all over the world try to hide the reality and Wall Street and other like minded institutes promote the false hopes.
Rupert is correct in predicting that there will be blood on the street. What I feel is that there is pump and dump rally going around the world, I haven’t been able to identify any green shoot as proclaimed by most main stream business channels. Economic data is not getting better rather turning bad but we can listen from like of CNBC the songs of green shoot.
Recent survey buy RBI (Reserve Bank of India) professional forecasts in HT (Hindustan Times) show that instead of growth forecast of 6 % for 2009-10 economy will grow by 5.7% only that too seems optimistic.
I have few friends of mine working for IT and Banking industry in India and they state that many IT companies had been laying off workers not directly but in the form of performance valuations. They are told to leave to job themselves or they will be fired as their boss think their job is not satisfactory contrary to the fact that just 6 months back they were doing very well.
Some have also been given notice till their projects last, if the company dont get new projects, they will be fired. For most of them finding new job is becoming even harder and harder day by day.
I don’t know where the green shoots are and where they are sprouting, definitely in homes of some oligarchs.
@phil Internet, cars and money are things we depend on, but don’t need to live. ‘Switching off’ internet (nameservers) is so easy it almost happened a few times already by hackers. Internet is non essential. You may want to feel part of a community, but then why not of a real local community. The hard part about the transition to a sustainable world is that sitting on your ass won’t make it happen.
http://www.reuters.com/article/newsOne/idUSTRE54E02O20090515
U.S. authorities probe insider trading at SEC: source
WASHINGTON (Reuters) – Two U.S. Securities and Exchange Commission employees are under investigation by federal criminal authorities for allegedly using insider information to trade stocks, a source familiar with the matter said on Thursday.
A report by the SEC’s internal watchdog alleges that the two SEC lawyers traded in stock of a large financial services company despite being told by another SEC employee of ongoing investigations of that company, CBS News reported.
The SEC inspector general report said one SEC attorney under investigation works in the Office of the SEC’s Chief Counsel and has access to a tremendous amount of nonpublic information, CBS News said.
An SEC spokesman said: “We take seriously even the suggestion that any SEC employee would engage in insider trading. We note that the inspector general report neither accuses any SEC employee of insider trading nor concludes that any such conduct took place.”
Calls to the SEC’s inspector general and Federal Bureau of Investigation were not immediately returned.
The SEC is in charge of policing markets and protecting investors. Ferreting out individuals who use nonpublic material information to profit on a company’s stock has been a priority for the SEC.
The SEC spokesman said the agency has been taking additional steps to enhance its protections against the potential for improper conduct.
(Reporting by Rachelle Younglai; Editing by Gary Hill)
Anyone read this? Rather weird reading about it in the NYT, isn’t it?
http://www.nytimes.com/gwire/2009/05/14/14greenwire-a-climate-solution-thats-out-of-this-world-19116.html
Q+A-Derivatives: What they are and why they matter
Recap derivatives 2009 – 2008
http://forum.prisonplanet.com/index.php?topic=105747.0
If you’re between 50-60 years old:
Don’t count on a retirement. The “Rx” Generation, as I call it, will continue to pop pills to get over the looming doom of financial oblivion. Keep taking your prescription drugs, you’ll die comfortably.
If you’re 20-40 years old:
Don’t buy into the retirement scam. The only reasonable action you can take is:
Step 1) Buy the cheapest house you can afford – with cash.
Step 2) Eliminate all debt payments on tangible assets.
Step 3) Quash your need for banks and barter with your clients (this is only possible if you succeed with step 1).
If you’re under 20:
Leave the United States. Occupy a small village in Central America. Have a great life.
@stacy: good morning my favorite expats ( M & S )—I am somewhat surprised that you propound the theory that as the fiat currency ( ies ) deteriorate, the next step will be immediate issuance of gold. I believe that it will be difficult to wean the oligarchs from issuing the various fiat and I particularly believe they see a way for a smooth transition to some other currency system…now will the 6.7 b population go along for the ride is another story entirely.So I prefer Adrian Salbushi’s premise that a two tiered gold bullion backed currency will arise…one that has a computer chip inserted in it for all interbank transactions( repriced extremely higher ) and another as a commodity for daily consumptionand trade at the current market valuation…But imo in the mean time several existing currencies will arise to replace the dollar reserve..The poiticians and beaurocrats have a grip on their functionality as our guides through the maze ( while garnering high fees all along the way home ) now again with each transiton there will be tensions and that’s where imo you and Max come in…keeping the listening audience informed of all the names of the players and the implications for our daily intringue…you will have a long and prosperous career ahead of you…I continue to enjoy the playful banter that both of you have shown in your videos together and also the now archived tweetcasts…Still looking forward to the Stacy Herbert all woman’s choir dressed in lavender gospel singer gowns all in harmony yelling out: RISE UP!!!!! keep on keepin’ on, as always, Richard@lattitude30N
M&S, do you know Deek ?
( Warning : bad language
I AM THE NWO
http://www.youtube.com/watch?v=17pUBYESQBk
His series is very good IMO.
Another one of my favourites :
STEALING TRILLIONS TO MAKE A FEW MILLIONS
http://www.youtube.com/watch?v=UG8RLZn678I
@Mother Earth
“The country is an extortionist gulag with zombie citizen high on the soma of averted danger and delayed reward (read lies).”
The ruling ( so called ) “elite” will try to ensure that the status-quo doesn’t change ; which is why internet censureship is a big worry IMO.
John Browne from Europacific Capital makes some valid points …
It takes 41,000 years to count a Trillion Dollars
http://www.youtube.com/watch?v=wy9JU1VZVJk
- politicians always lie
- hyperinflation financially and stagflation and stagnation economically coming soon
- 1 Billion seconds ago, Jesus Christ was alive
- 41,000 years to count 1 Trillion $s …. 1$ / per second
BTW… my calculation says it’s “only” 31,710 years !
Nice to see a few Bilderberg articles in the MSM.
I wonder if they’ll print the minutes .. LOL !
I think it is unlikely the young generation will feel solidarity with their grandparents mistakes. Money having undone social cohesion in most western countries, the people there will be most at risk of being goated into a generational conflict. If I worked hard and have not debt, then why should I have to take care of so many older people that clearly went to sleep when they trusted someone else with their money.
I always advocated that elderly people build and run their own ‘enclaves’ in warm countries where wages are low, instead of being sucked of their wealth by industrialized care.
About the blood, the US coffers are empty, they can not guaranteed deposits, their regulatory and judiciary framework is under siege from the industry, ‘All your private property are belong to us!’. The country is an extortionist gulag with zombie citizen high on the soma of averted danger and delayed reward (read lies). there is no reason to assume this will change bottom up, after all people lived throught the middle ages paying churches for their ‘sins’.
The wake up call will be hunger and drought, because people may eat abuse, but they will need to eat. It is about activating an inner drive that can break through the conditioned habits. Self respect should be one, but the Simpsons and Christina Aguilera took that away. Hunger is one you can’t degrade, so when it strikes you’ll finally start to see minds at work again..
I think that on the side we are seeing people trying to quicken the pace towards that chaos. Chaos creates opportunity to regain power by the rich (so that is why Fox is spewing their bellicose bs).
So in short, the blood will come with the hunger…
@Phil – I wouldn’t put too much stock in those numbers. According to the numbers from google analytics they are way off in terms of who is visiting from where. While our traffic is, indeed, up significantly since the crisis began, I would say a very rough estimate is that about 55% of traffic is from states, 35% from UK, Ireland & Canada and 10% from others combined.
Hi Max & Stacy,
You got to get Marilyn Waring on your NZ radio show. I think she is amazing….
SEX, LIES AND GLOBAL ECONOMICS
Marilyn Waring is an author, former member of the New Zealand Parliament, and goat farmer. She is Professor of Public Policy at AUT University in Auckland, New Zealand.
http://www.tucradio.org/090318Waring_ONE.mp3
http://www.tucradio.org/090325Waring_TWO.mp3
Stacy,
You’re observations of the middle classes are completely accurate – still clutching to the promise of fantasy, still incapable of grown-up assessment of the actions of the banker/politician/developer tripod of destruction.
Here’s my suspicion of what we’re headed for…
- complete collapse of Dollar
- jostling for new reserve currency
- stampede of nations to lay claim to the seabed all over the world – countries now realising that ‘pretend’ wealth doesn’t work – real wealth is natural resources
- conflict somewhere over these resources
- governments identifying scapegoats (other nations) so as to make conflict acceptable to the citizens
- conflict within the US – possibly with some states leaving the union
- then whatever the Bilderbergers have as their next plan will unfold – all while the frightened, headless middleclasses run around oblivious to their own demise…
A little OT:
M&S, seems your Pageviews have increased since Oct. 2008.
What is more interesting is that India traffic is pretty big versus UK. ( OK, there are 1 Bio. people there versus 60 mio.. in the UK )
46.0% United States
25.9% India
13.0% United Kingdom
4.2% Germany
2.9% Greece
http://www.alexa.com/siteinfo/http%3A%2F%2Fmaxkeiser.com%2F
REPOST :
“People should be put in jail for their lack of maintenance of purchasing power in the pensions and retirement funds that they managed,” Rupert said. “People are simply not going to have the retirement funds at their disposal.”
All the below is just my opinion … ( rather long )
By “people” .. he means the politicians I presume !
Germany’s Norbert Blume stated decades ago “Your Pensions are safe” !
Recently – last week – the German Bundestag declared the same again.
What they did NOT say was the pension “contribution” are NOT safe , i.e. will have to be increased to hold that promise.
Conrad Adenauer asked his financial advisors whether the “generation plan” for pensions is workable. They replied, yes for ca. 40 years , to which he is rumoured to have replied “Well, that’s not my problem then” !
I calculated that an “average” worker in his lifetime pays ca. 800,000 Euros into the Govt. pension fund – including cumulative interest at ca. 3%.
Assuming that this money was “safely” deposited onto a bank account, the “yearly” interest today would be ca. 24,000 Euros (3%).
The “average” pensioner doesn’t even get as much as the interest he would have been “owed” by the Govt., let alone that the Govt. states “the pension fund is empty” !
A friend of mine ( Tax Advisor ) – by coincidence – came up with the same results after his father died at 72. He took the time to calculate what his father had paid “to the Governemnt’s pension fund”, it turned out to be ca. 1.4 Million DMs ( 700,000 Euros ).
He recieved his first payout at 65 , 7 years later he died.
For those 7 years, he recieved ca. 220,000 DMs ( 110,000 Euros ).
So thanks to his departure, the Govt. now has a surplus of 600,000 Euros + ongoing interest … and they tell us “the money’s gone” !
Where has the money gone ?
The Govt.-employees themselves have pocketed the money via their own perks, salaries and pensions IMO.
Two serious books ( in German ) that document this exactly are :
From 1994 – Gutes Geld & schlechte Politik by Dieter Balkhausen
From 2006 – Das System by Prof. Hans Herbert von Arnim
Current price for “Gutes Geld…” at Amazon : 0.01 Euros …
… obviously too boring for most people.
In “Gutes Geld..” , they mention that the “petty cash” budget of the German Politicians is 4 Biliion DMs per year. ( 2 Bio. Euros p.a. ).
Now go back to 1985 and calculate forwards at 4% interest to discover how much of the Total German Nation Debt is made up by the “petty cash” box spent by the politiicians each year.
Taking any “reasonable” interest rate for 24 years , you get :
5% .. 93,454,197,636 Euros
4% .. 81,291,816,574 Euros
3% .. 70,918,528,644 Euros
2% .. 62,060,599,446 Euros
Let’s take 4 ( Govt. approved ) 4% rate = 81 Bio. Euros
The current German Nation Debt = 1,500 Bio. Euros
.. So that makes 5.4% of the current German Nation Debt consumed by the politician’s “petty cash box” ..
And that is assuming ( likely very wrongly ) that the 2 Bio. Euro p.a. has NOT been increased since 1992!
PS:
“Das System”… is even more frightening !
Prof. von Arnim addresses the problem of expanding (German) Govt. and it ain’t pretty !
http://de.wikipedia.org/wiki/Hans_Herbert_von_Arnim
REPOST… sorry about that .. didn’t realize the HTML quotes would be translated
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All the below is just my opinion … ( rather long )
By “people” .. he means the politicians I presume !
Germany’s Norbert Blume stated decades ago “Your Pensions are safe” !
Recently – last week – the German Bundestag declared the same again.
What they did NOT say was the pension “contribution” are NOT safe , i.e. will have to be increased to hold that promise.
Conrad Adenauer asked his financial advisors whether the “generation plan” for pensions is workable. They replied, yes for ca. 40 years , to which he is rumoured to have replied “Well, that’s not my problem then” !
I calculated that an “average” worker in his lifetime pays ca. 800,000 Euros into the Govt. pension fund – including cumulative interest at ca. 3%.
Assuming that this money was “safely” deposited onto a bank account, the “yearly” interest today would be ca. 24,000 Euros (3%).
The “average” pensioner doesn’t even get as much as the interest he would have been “owed” by the Govt., let alone that the Govt. states “the pension fund is empty” !
A friend of mine ( Tax Advisor ) – by coincidence – came up with the same results after his father died at 72. He took the time to calculate what his father had paid “to the Governemnt’s pension fund”, it turned out to be ca. 1.4 Million DMs ( 700,000 Euros ).
He recieved his first payout at 65 , 7 years later he died.
For those 7 years, he recieved ca. 220,000 DMs ( 110,000 Euros ).
So thanks to his departure, the Govt. now has a surplus of 600,000 Euros + ongoing interest … and they tell us “the money’s gone” !
Where has the money gone ?
The Govt.-employees themselves have pocketed the money via their own perks, salaries and pensions IMO.
Two serious books ( in German ) that document this exactly are :
From 1994 – Gutes Geld & schlechte Politik by Dieter Balkhausen
From 2006 – Das System by Prof. Hans Herbert von Arnim
Current price for “Gutes Geld…” at Amazon : 0.01 Euros …
… obviously too boring for most people.
In “Gutes Geld..” , they mention that the “petty cash” budget of the German Politicians is 4 Biliion DMs per year. ( 2 Bio. Euros p.a. ).
Now go back to 1985 and calculate forwards at 4% interest to discover how much of the Total German Nation Debt is made up by the “petty cash” box spent by the politiicians each year.
Taking any “reasonable” interest rate for 24 years , you get :
5% .. 93,454,197,636 Euros
4% .. 81,291,816,574 Euros
3% .. 70,918,528,644 Euros
2% .. 62,060,599,446 Euros
Let’s take 4 ( Govt. approved ) 4% rate = 81 Bio. Euros
The current German Nation Debt = 1,500 Bio. Euros
<<>>
And that is assuming ( likely very wrongly ) that the 2 Bio. Euro p.a. has NOT been increased since 1992!
PS:
“Das System”… is even more frightening !
Prof. von Arnim addresses the problem of expanding (German) Govt. and it ain’t pretty !
http://de.wikipedia.org/wiki/Hans_Herbert_von_Arnim
@William – I think Nouriel Roubini is completely wrong in thinking another fiat currency can fix this global financial chaos. Roubini essentially says that the world needs a new reserve currency. US has too much debt. But that gold is a barbarous relic. And so, therefore, the new reserve currency will be the yuan because they have savings and the Chinese are sick of financing US. The fact is that Russia was the first since the crisis to call for a replacement to the US dollar as a reserve currency. The Russians mentioned a basket of currencies, including gold. The Chinese then surprised everyone by backing Russia’s call for a replacement to US dollar, only Zhou appeared to back the IMF currency of the Bancor – a currency backed by 30 commodities.
Agreed, i wonder if the only way the $ can remain is IF the US goes back onto a Gold standard?
Ron Paul’s crew is gaining in strengh, i wonder if he has “Won” the argument & we are going to see changes………Obama last night talked about how America could NOT keep borrowing money from China & how if they didn’t cut spending rates would rocket.
I think he was trying to push for his spending cuts, but he spoke the truth………..overseas investers will get pissed off at the crap returns & DEMAND High rates.
I am told that the US can’t do what Paul Volcker did in the early 80′s & go for HYPER Rates…………but i suspect thats what will happen.
Will it kill Gold again???
Mike
If nations lose faith in the fairy tale which is the U.S. dollar and it crumbles; what would compel these same nations to believe in another fiat world currency?