Comment: A lot of these guys are sensationalists

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A lot of these guys are sensationalists

A lot of these guys are sensationalist trying to garner viewership, peddle their newsletters, or sell something. Max Kaiser is compensated via selling Goldmoney along with compensation from other ads on his sites and videos via someone clicking on it.

I have nothing against trying to make a buck, but to say April of 2013 is the collapse is utter nonsense and I am surprised by it.

Remember Gerald Celente's call of the 2010 crash? I called him out on it March of 2010:

I wrote: "I agree with Celente, the Austrians and Mish Shedlock on the negative consequences of government spending eventually bringing down the economy, but I don’t see it happening as quickly as Celente does.

GDP can’t keep growing fueled by government spending alone, however, Obama has a few more trillion to spend to stimulate the economy in 2010 as his self imposed spending freeze begins in 2011 (I’ll believe it when I see it).

As long as the U.S. Dollar continues it’s upward trend, and barring any unforeseen “external influences,” 2010 might just be a “muddle through” year (to use Financial Advisor John Mauldin’s former terminology) with both ups and downs in the market."

Another predictor of doom (hyperinflation) each year is John Williams of Shadowstats. Here's his 2012 prediction:

Prior to that Williams said this in his DEPRESSION SPECIAL REPORT
Number 52 - August 1, 2009, "Risks for the onset of a hyperinflation in the United States are particularly high during the next year. As will be discussed in the soon-to-be-updated Hyperinflation Special Report (see the existing April 2008 version for basic background), the United States would be particularly hard hit by such a circumstance."

I'm pretty sure he has predicted hyperinflation every year.

The fact of the matter is the Fed is still relevant. They have successfully stimulated the stock market and caused a bounce in real estate in many areas. But a market built on fluff is the beginning of the next bubble.

Treasuries are in the beginning of the next bubble but as Japan has shown, that bubble can be prolonged and that's what the Fed is doing. But we are not the same as Japan by a long shot.

The valuations aren't there for the stock market like the last time we were at these levels.

Banks still don't mark to market their real estate assets.

The list goes on.

But to predict a collapse in April of this year is rather looney.

Doesn't mean you shouldn't have the insurance that gold provides. I tell my clients it's the tortoise vs. the hare. In the end, the gold tortoise will win out over the hare debt. In the end, the Fed will become irrelevant.

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!