ECONOMIC CRISIS... Prepare and be Informed
Posted January 10th, 2008 by honorgod
output
THIS WAS SUPPOSED TO BE POSTED YESTERDAY(Monday 7 Jan), But MANYSTROM didnt check his approval , due to the links I had
A few months ago I posted a string that was named something like “Ron Paul knows nothing about economics?” . Within that post I indicated the exact opposite. I noted that the dollar had dropped about 50% of its value since 2001, that gold increased in value by 300% and that silver doubled in value. Additionally, I indicated that inflation was actually running annually since 2002 about 10%. The most important thing I said was to “BUY GOLD AND SILVER”. While all of that still stands, I have an additional thought. “BUY STORABLE FOOD”. What you will see happen in the next 2-4 months is this: Gold will hit 950+ , silver will hit $20+, the dollar will drop to 70 pnts (currently at 76). Inflation will reach YoY 12-15%, Oil will break $125 pb, and you and I will be freaking out on how we are going to pay to live. All of this will lead to a severe crisis in this country that will dwarf 1929, and I mean DWARF it by November ’08. Ron Paul will be the only one that will be able to stabilize the issue but it will take time. So please, consider the guidance above and don’t even think about giving up on Ron Paul. He is 100% correct about what is on the Horizon. He is very optimistic on when it will occur, but I’m not. Your best opportunity to preserve and make money is in silver rounds. If you can afford ounces of gold, go for it otherwise start purchasing silver. I will give you a few tips on what could happen this year:
-The death if the dollar USD index of 50 minimum pnts. This means the $76 in your pocket is now worth $50.
-Down breaks below 12,500 possibly to 12,300.. slight strong rally then a plunge to 10,000. A drop below 10,000 will crash the market to 7300 and then 4000.
- Inflation world wide but worse in the US because of the crash of the dollar and hyper-inflation. No one will take the $ anymore.
-There is also an indication that some high political figures are going to be exposed. Indications are that this will bring about a huge change in the political make-up of the U.S. possible unrest. 1929? No worse
*********Update: (9 MAY '08)************
Gold went over 950 oz.....On or about 2/22/08
Silver went over $20 oz... On or about 3/7/08
USD went below 71.. On or about 3/21/08
Oil went above $125 pb on or about 5/9/08
Rationing of food hit the Media on or about 5/5/08
Question: when will they expose McCain?
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Seeing that each of the
Seeing that each of the price peeks (or dips in the case of the dollar) have been met, I will post another updated string ina few weeks. It takes me about 1 1/2 weeks to garner the information and ponder it. I have not been focused on analysis lately, simply absorbing instead.
Additionally, a former republican precinct chairman in my precinct emailed a scathing note to the republicans in my precinct about me. I have been focused on opening his eyes to the real facts of the economy and the republican party. Sadly, he has no idea on the important issues that we face. Most importantly, in one email he says the economy is great... Oh my, is all I can say.......
Update soon.. please be patient....
Tim
HONEY BEE REPORT **GRIMM** Very GRIM
http://news.yahoo.com/s/a...
Tim
Thinking Aloud on Bees
Couple Questions
1) Is it at all possible that GMO/GE Genetically Modified Organisms/Genetically Engineered Foods.....these seeds with terminator technology, the round-up ready Monsanto etc. crap are actually killing the bees (not immediate death since I have read they are not finding dead little bee corpses piled up around the hive)
2) Without the bees, open-pollinators have to rely on wind alone and that would presumably beget fewer crops... yes?
3) Do GMO seeds require bees?
SUSAN, 1) It is more than
SUSAN,
1) It is more than likely that the GMO/GE crops are killing the bees in one FASCion or another.. (no, not a misspelling). What is likely is this:
The Bees are doing their job as normal, but in addition to an negative immunological response (lacking immunity to anything) to the mites, the modifications are screwing with their normal ability to determine what is happening in the environment. There are "tripping-out" (lsd), getting lost, leaving the hives and dying in the open or getting ingested because there stupid (lsd).
2) Absolutely.... this is what the problem is with the low crop harvest for everything last year.
3) Currently, all crops (GMO or not) require pollination.
as I stated below, I would wager many paychecks that they already have self pollinating GMO/GE seeds.
Side-note> why are we storing seeds around the world in seed banks? Some might say that once a substantial population of the world has gone "Bye Bye" for one reason or another, the old heirloom seeds can be re-introduced. Terminator seeds would be good for this as once terminated, no further cross pollination can occur that would infect the heirloom seeds. Thinking evil (-and out-side-the-box-) this is the scenario that I would use if I had similar intentions. Be a good Cop and think like the criminals. Ergo, you will see the ramifications of the power players and their possible agenda and modus aparendi (mode of operation).
Mike needs a spell checker on this site
Tim
I wouldn't put it past the central planners
We need a Food/Agricultural Industrial Complex like we need a hole in the head. :( Lately I'm feeling as though we are screwed no matter what...we need everyone to wake up and wake up in a pretty big hurry.
These people need to be
These people need to be fired... How dare they write about this stuff... We cant have americans read what everyone else has in thier news on a daily basis.....
http://www.321gold.com/ed...
Tim
3 things.....
#1 The world food crisis will spread here. It is fact. So either be prepared, or stand in a food line.
#2 About the dollar. I was in Costa Rica recently, and I have been their many times. On my last trip...I went to pay for something with US Dollars. and guess what? They refused them. They do not want US Dollars due to the fact that they are falling fast. The Costa Rican currency has gained quite a bit on the US Dollar, and it is very disturbing as well as humbling.
#3 When I am outside this country, it is amazing to watch the news. BBC, Russian, and even CNN World. The news that is reported outside the US is way different then the crap we are fed here. It is sad that I have to leave the country to see what is really happening inside my own country.
Boy if the average American saw the news from a different countries perspective....it would be an eyeopener.
I realize all of this is like "Preaching to the Choir"....but it needs to be said.
PREACH on BROTHER.... The
PREACH on BROTHER.... The Choir is in harmony with the FAT LADY, and SHE is singing one hellava tune let me tell ya... You keep posting and spreading.. NO MATTER WHAT>>!!!!!!!!!!!
Tim
What a nightmare
The first thought that comes to mind.....is this is a dream come true for the genetically modified seeds that don't need pollination. Then the second thought would be......is somebody killing the bees on purpose to get these seeds more popular. AM I CRAZY????
IT NEVER ENDS!!!!!!!
The research I have seen is
The research I have seen is that they DID NO RESEARCH... They never tested the GMO crops and thier impact on the pollinators. When you grow a crop that naturally produces a chemical that kills a vector that eats a particular crop, the chemical is produced all the time.
In normal farming, prior to pollination, you dont spray your crop with a bug or weed killer. Most bee keepers will insist that the crop if free of pesticides for a particular period before they will drop the hives.
Having, say GMO "corn" produce its own pesticide during the growth process makes the pesticide available during pollination. The Bees pick up the nectar, injest it, bring it to thier hive, regurgitate it and you have honey.
You go and injest a bit bug killer and spit it up for a period of time. And then eat what you regurgitated later on. I can assure you that your immune system will be screwed if your not toxilogically killed by the pesticide intitially.
But, its all about money isnt it? Evil men, breed evil men who breed evil deeds.
and No, your not crazy... what lies in the back of thier minds is total control of the crops. Bring the farmers back to them to repurchase seeds. I'll bet they have seeds that grow crops that self pollinate and dont reproduce seeds... Hello, we solve the issue... We kill the bees, sell the self pollinating seed, they cant get seeds for the next crop, they come back to us to purchase the next seeds, we jack up the price, kill people in the process over time (because they are injesting the chemical also), we rule the world... Oye vey...
Tim
The Oil Price
is really crazy. Their is really no justification in my opinion in regards to it keep going up every day. I would be really Leary of getting into oil right now, which I think some "Average Joe" types may be doing with all of the $150 to $200 a barrel rhetoric jumping around. I think this is another ploy to lead the "Non Understanding" to get in, and then get wiped out.
As somebody said below, it is hard to predict this manipulated market. It is like walking into a foreign Casino where every game is rigged. The cards are stacked, the Roulette Wheel has magnets, so no "Normal" outcome can be predicted.
The Stock Market
The Metals Market
Food and Energy
and all Reporting on economic facts....ALL RIGGED.
It is a very scary situation as an investor.
The manipulation is blatant.
My feeling is that when the "Average Joe" buys into this oil spike on the way up.....he will not be ready for the 20% loss in one day.
Now.....would I short oil? Never. It is impossible to figure this out when the game is rigged.
Would I short the Dollar? Same thing......the Forex market is rigged too.
You just can not win. I will keep buying silver over the long haul. And as I accumulate Silver, I force myself not to pay attention to the day to day swings. It will drive you insane.
Someone told me yesterday they are trying to
short the banks....I listened with half an ear to be honest..risky too I think.
Yeah
Good luck....
That won't work.....because in my opinion....any Bank that is going under.....Don't you think they are already in contact with the Fed? They will not allow another Bear Stearns thing ever make it to the public news. They will put a stop to that before you even know it.
Gold and Silver should be through the roof right now.......$2000 an ounce on Gold and $30 on Silver. They fixed that real fast.
It will be an interesting next couple of years.
I got out of my Gold position. Way too much downside manipulation risk. Silver is the way to go right now. Buy at $17, Buy at $16, Buy at $15 and even buy at $19 and Buy at $20....I will buy all the way down and up. And after all is bought (That I can Buy), I will have an average price at which I bought it all. That is how I am doing it. Again in my opinion....Silver has way more power at doubling or tripling in price then Gold does. Silver at $34 sounds a little more feasible then Gold at $1800 right now. I think the powers that be (PPT & Manipulators) will stifle the Gold market harder than Silver.
You are a very smart man
You are a very smart man then... My hat is off to you...
Tim
I have heard...
from law enforcement in Florida, that the big drug dealers have no longer been accepting dollars! They are demanding cash payments in Euros. Who better to use as an economic barrometer than South American dealers!! They ain't stupid...we are! I still believe that the CFR folks are driving the USD into the mud in order to get the masses to accept the Amero.."a new, stable currency". One step closer in the NAU and globalization. The Fed are making so much money from funding these war-fronts, that having millions out of work and not paying taxes to them doesn't hurt so much. This is all part of the bigger plan folks! I agree that we all need lessons on how to be far more self-reliant..gardening lessons, canning lessons, etc.
bcfast
Recently awakened, always vigilant.
If you're not outraged, you're not paying attention!
Well, another reason for
Well, another reason for pooping on the $ and taking the euro is because of the patriot act and dollar tracking. ED is a bit more easy to wash vs. the USD. Yes, a good reason is the devaluation but more so is the PA..
Tim
Oil 125.65 Oh My, thanks
Oil 125.65
Oh My, thanks for the LEEWAY, but I guess it is no longer necessary.
100% HIT RATE.. WOOOO HOOOOOOOOOOOOOO!!! :o(
We are so screwed... I guess I need to do an updated post that will really blow this original post OUT-OF-THE-WATER... as stated before, the Tempest on the Horizon that commeth, will turn the hearts of all men to stone... It aint gonna be pretty...
So much for Mike Nystrom even remotely recognizing the post...
Tim
Oil 124.28 0.59 0.48 Gold
Oil 124.28 0.59 0.48
Gold 882.60 0.50 0.06
Natural Gas 11.27 0.01 0.06
Am I gonna get some flexibility on my prediction of $125.00 pb by 10 May or what?
Tim
After the MLK day market fiasco...
I think you are allowed more than a little leeway.
After all, how can you predict an artificial market environment?
Manipulators, not surprisingly manipulate
ubelievable to watch sometimes....I'm so glad we are all here to demystify the goings on together.
for those who think gold will go to 600.00 or silver 10.. think
http://www.321gold.com/ed...
as for me and my home, we shall worship the LORD
Holy Crap that is UGLY..
Holy Crap that is UGLY.. That is the best grouping of charts I have seen in a few years. WOW!
Tim
Yep
the old Chinese curse applies here I think.
May you live in interesting times.
Things are going to get interesting, to say the least.
General Economy Seeing that
General Economy
Seeing that the MSM has ignored our FAVORITE Candidate, they apparently are not ignoring the facts and truth about the WORLD ECONOMY. Yes, it is bad and its about freaking time you published the truth with a good history lesson on the Economy and fudged numbers in the article. Note to TPTB (the powers that be)”fire the author (Kevin Phillips) and prepare the papers to take over Harper's Magazine, let the FED reserve know we need millions printed in order to purchase the magazine and fire the whole lot of them. P.S. prepare some suicide notes also…
On the Books, off the Books, you aint seen nothing yet world -it is far from over. Pardon me, would have another set of blinders I can wear?
You thought that the food crises due to the environmental factors in Asia were the issues? No, no, no my young padwan, don’t look NORTH you may not like what you see.
Oil & Dollar
Bloomberg, prints some facts for once since its existence. Oh, its facts that the IMF is saying, not facts that they have uncovered… my mistake.. Mainly, that Oil would be $25 a barrel if the dollar had not lost half its value since 2002, Exactly what I have been saying for years. But, they fail to clearly articulate the reason for the dollar drop… PRINTING MORE MONEY and SPENDING IT!!!
No Hunny, We cant gamble this month!
Live in Vegas or Cali? Sorry, Countrywide, IndyMac, BofA and WAMU says No Mas equitiest por Jue (with a funny Spanish accent). I never did care for any of those financial institutions anyway: because, we have Bank of AmeriKA (note the Soviet “K”), IndyMac (BigMAC clogged financial arteries), WAMU (we WHAM-You with huge interest rates) all ads up to a CountryWide MELT-DOWN of biblical proportions.
Good segway
… talk about BIBLICAL Proportions how about MAYANMAR a Quarter Million Dead, or TOKYO (not to mention, Oregon, Cali and Illinois, Mexico ..etc), or its just a LI’AL PUFFER (with a funny English accent).
Jobs, JOB’s and No, Job’s
Oh my, I knew This was coming in January These are the tip of the LAY-OFF Ice-berg.
Food:
Yeup, the report I have been waiting for.. its about the Bee’s the BLOODY BEE’s and you thought is was about the population and weather. I wonder what this years preliminary reports will be like. 38% Loss in 2007 WOW!!
Yes, WEATHER does play some bit of a role. There is another FACTOR
in the price and supply of food, Thanks LVM, great article… No wonder Ron Paul likes you guys so much. Wake up AMERICAns seeking help ! and JOIN THE R3VOLUTION before its too late.
On a side note, the next Technology Revolution is at hand.
Enjoy your day folks…
Tim
It's about time!
One of the MSM news outlets printed that the rise in the cost of oil isn't supply/demand...ethanol or speculation but....wait for it......DUH..... MONETARY INFLATION thanks to the Federal Reserve.
Thanks for the link Tim!
Did you read the Ludwig
Did you read the Ludwig VonMisses article, by clicking on the link in the last paragraph "FACTOR"?
Tim
Great Article
and I found this on that site as well
http://mises.org/story/23...
Globalization
I think we should have a thread to discuss it with all the brillant minds on the forum. I know it is one of the most confusing issues to me.
Indeed Susan, it looks like
Indeed Susan, it looks like a doozie to read. I will have to com eback tomarrow to print and read it. Psstt.. lotta research and reading today, Im a bit tuckered out.. ;o)
Tim
Oil passes $122 pb
http://www.breitbart.com/...
..... A falling dollar on Tuesday also gave traders reason to buy. Investors often buy commodities such as oil as a hedge against inflation when the dollar falls, and a weaker greenback makes oil cheaper to investors overseas. Many analysts feel the dollar's protracted decline is the real reason oil prices have nearly doubled since last year...
Comments by others that oil will go to $70 pb are so of base. Neophytism is rampant and suggestions that planting is underway abound.
Tim
I've been predicting
I've been predicting $200/barrel oil since January and now the mainstream media is starting to do the same.
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
what Ive seen
I work at a gas station so my perception of economics is from, lets say, a micro view.
Two weeks ago we ran out of regular gas. More people switched from premium and ultimate due to price hikes. I called to order for more, but I was told that BP' TANKS were empty at the time. As far as I have known, they have never been empty. Gas stations around baltimore ran out as well. It took us two days to get regular gas in our tanks.
I have seen regular sized candy bars go from 69 cents to 99 cents over the last three months. King size went from 1.09 to 1.69 in the past 3 months.
Newspaper cost has gone up well over 25% this year.
We have donuts delivered every morning and we now pay 20% more for them. We raised the price accordingly,sorry.
Last week, the donuts that came in were roughly half the size that they used to be-- We no longer carry donuts.
Milk is pushing $4.50 now.
Cigarrette sales have drastically dropped due to the tax hike in maryland-- and now we can only sell "fire-safe" cigarrettes(whatever those are--anyone?)
Last month sales report included an increase in the amount of $$$ we brought in and a sharp decrease in the amount of product that we moved. Some of our food stock will start expiring soon and we will be reimbursed for that supposedly. I wonder if that will become another small factor in large scale companies loss of profits.
**And now I look through the coin drawer looking for junk silver and war nickels**
**My wife no longer thinks I'm a lunatic ... just mellodramatic. If she only knew I was buying a couple oz of silver every week she would think me crazy again... so I will wait to let her in on that one.
I am currently pursuing a degree in physical therapy but I have noticed how much money comes in from medicare and medicaid. I wonder how long this will hold up? My wife is in the medical field as well. Any psychics out there have any input as to what will happen to long term care nursing facilities as the wealth and saving of the elderly declines?
(Anyone with extra food stuff and no place to store their gold and silver can contact me, perhaps it can be a tax deductable donation ;-) My children will thank you while I am attending school and burying myself in debt each semester.) <------- Sorry, for the beggars quip, intended as a joke, but if there IS anyone who has run out of room for storage lemme know because I have plenty :-)
I would think
that as monetary inflation and tinkered with CPI (from which the annual increase to programs is derrived) eat away at the savings of the elderly and the real value of social security checks, nursing care would have to be increasingly socialiszed (included under National Heathcare) otherwise no one will be able to afford it in the future and they will be sleeping in the street.
I learned yesterday that there are supposedly 8 seasonal gasolines (not regular, premium, ultimate) but "mixes" used by season. Can you explain that? The person telling me this wasn't very clear. I guess this came about over the last few years and impacts the 'shelf-life' if you will of stored gasoline. Many folk on here like to be prepared and have a bit on hand so this may be valuable info.
not exactly certain
Not sure on the dynamics of the mixes, but I know that there are different mixes for the seasons and I do know gas will 'go bad' in the conventional sense over a long period of time. If it hits the fan though, your engines will still run, just not as effectively and may reduce the 'lifespan' on your robots. At some point in time the phrase, "It gets me where I need to be" will make sense to those who are driving Audi, Lexus, BMW or any other high 'valued' vehicle.
Personally, I hold value in a vehicle that doesn't let me down and if push came to shove ... I could leave it on the side of the road if need be... But then again, I bought a car off a buddy of mine who came back from oversees for pretty cheep. Got quality without sacrifice of debt notes!!
Silver note: Im up to about 50 oz now but I've gradually paid $60 more in spot value(adjusted accordingly) Any recommendations as to how to buy at spot or below?
New Self Reliance Forum
http://newfreelanders.big...
Hi Folks
As we see the blow back from nearly a hundred years of failed monetary policy, foreign policy and stand on the brink of economic melt down. I thought it would be a good idea if we started sharing knowledge and learning how to become more self reliant on a local and regional level. We need to get to know our neighbors and become less dependent on centralized government. That means learning to take care of our needs right here at home and across our own states without relying on federal funds and the strings that come attached to them.
I know we are all busy Campaigning for Ron Paul and ourselves gathering delegates etc. but this is just as important considering the economic circumstances.
To this end I have set up a forum to build into an online community. I will be building a permanent website for this endeavor as I have time ( time whats that?) But I wanted to get the ball rolling and the information flowing.. Please come and visit the site ( link above) sign up and start sharing your knowledge of, and learning how to become more self reliant, and help me build this site up.. Also feel free to give any suggestions for improvements and more forums etc. if there is enough interest we will add them.
Thanks
Blayne
PS:
Some might wonder why I set this up since there are already a number of similar self reliant or preparedness type forums. I have been on some of those forums for over ten years and some are pretty good. However since I have been on Daily Paul I have really been impressed with the caliber of folks here and have felt more at home here then on forums I have been on for many years... Since DP does not have a forum dedicated to Self Reliance I thought I would create one. I hope to attract the same caliber of people there and the level of talent and willingness to live and let live. Nothing is perfect but with your help we can make it the best self reliant forum on the web. Thanks.
-----
Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty, or give me death. Patrick Henry
This has nothing to do with
This has nothing to do with the above post, I just felt that the above post deserved to lead for the day..
A good read
http://www.theinternation...
Tim
Thanks! ----- New
Thanks!
-----
New Freelanders
Self Reliance Forum
Amazing
How the PM markets are being manipulated. It is crazy. I wonder how long this will last. I should of jumped out at $1030 and back in at $846. I just don't have the guts to trade.
Silver and Gold up big today.....which is nothing after how much it has receded!
Oil hit $120.
Screw the "Oracle of Omaha" I'll take my financial tips from the Oracle of Austin, Tim.
Will it hit my $125 pb mark
Will it hit my $125 pb mark though?
http://www.bloomberg.com/...
I actually hope it doesnt. I prefer a complete reversal to $70 pb.. but the latest prediction is oil to $250 out there in the MSM matrix.
Notice the battle going with the metals and the dollar. http://www.321gold.com/ clear uncut manipulation. But they just wont give up.
Another rumor, Bank Bailouts to be done in Secret. You will only notice it when inflation jumps even more...
On a side, side, bottom of the sea note. Nice try Warren, I can assure you he is saying he is long the USD but I would not believe it until he shows us the purchases... He is not long the USD nor is he long on the U.S. economy..
Tim
This is CLASSIC
Un-believable... I laugh, its all I can do....
http://market-ticker.denn...
Tim
All I can say is, wow. He
All I can say is, wow. He may also be right about the BofA/Countrywide merger. It makes sense as a way to conviently (and fraudulently) dump their own trash. Good article.
In other News: Off the
In other News:
Off the economic side of the house for a minute
The war drums are beating in the Balkans as NATO Warns RUSSIA, and RUSSIA warns NATO Why might you ask? Well, with the KOSOVO incident on the front burner simmering away, the nightmare from YUGOSLAVIA still on the table from Mr. Clinton, and the U.S. trying to emplace a anti-Ballistic missile system around the U.S.S.R (yes, I know, but do you really think it was done away with?), wouldn’t you be a bit concerned yourself?
How about the potential EXPLODING of IRAN drums beating in the foreground. The MATRIX of the MSM similarities popping-up that elude to the same theme. Seeing that CBS seems to have lost all credibility as a news outlet, it would seem that a bone needs to be thrown their way to give them a bit more credibility, if only to increase lethargic ratings.
Oh OH.. here is a good one, lets link the Iranians to NAZI atrocities while the Patriot Act
and the Department of Homeland Defense directly correlates to terms of Nazi Germany.
Be that as it may be, let us not forget the potential global insurrection that could come from the other REDs glaring at us from the Land of the Rising Sun . But they are our “friends” and global “Partners” aren’t they? Oh don’t worry, there is plenty more intelligence news out there about “them” I just cant spend the time to show you. An interesting note is that we seem to be directly Challenging “them” . In the famous words of a Monty Python movie “Its just a few nuclear class Carriers”, “yeah, but they got big bombs” (with a funny English accent).
So who gets Afghanistan, the Prince
or the Pauper ? It won’t matter, in the end we get screwed. Its kind of reminiscent of a earlier part of World History in the 20th century wouldn’t you say?
And to top it off in the ARMY is here to help department don’t worry, the black uniform are standard issue… so are the black helicopters.
I’m tired, no one cares or will read the links in the text above so I just waisted 4 hours of my time… Ho Hum!!!!
Tim
Ooops, the Afghanistan link
Ooops, the Afghanistan link is here: http://www.atimes.com/ati...
Sorry, I thought I was better that that...
Tim
Ho hum...not!
Thanks for posting those links. Lots of stuff going on in the world. Did you happen to see who got voted off American Idol?
Blah Blah... No, my world
Blah Blah... No, my world was shattered to hear Paula is crying again.
Back On Subject though
No-Food for thought http://www.321gold.com/ed...
And, has Gold Corrected? http://www.321gold.com/ed...
What a real PUTZ this guy is!
http://www.kitco.com/ind/...
Tim
Drop...DROP.. PLEASE
Drop...DROP.. PLEASE DROP.... and stay down until 15 MAY when I get my $2600 worthless fake money check... DROP DROPPPPPPPPPPPPPPP come-on $15.58.. do it BABY!!!
Tim
ha!
exactly what I was thinking, too. Hope I can find some when the "price" is $15.00.
Wrong.
In case you hadn't noticed, Silver has plummeted to a mere $16/oz, and Gold has sunk below $900/oz.
These things are going in the opposite direction, regardless of rising Oil prices, inflation, and the like.
What happened in 2001 is old news now, and doesn't apply anymore.
Momentum trading, recent price action
Since there's varied experience here in the markets, I want to make a few points:
I would gladly trade some short-term declines in my metals and bearish dollar holdings for a recovering economy. Unfortunately, I see no signs that we are anywhere near done with collapsing home values, imploding derivatives markets, rising unemployment, and rapid money creation by the Federal Reserve (inflation), which means that this temporary encouragement in the markets is just that: temporary.
If you have the skill to trade in and out over a few days or weeks, that's fine. I don't, and know few who do. The fundamental challenges to this economy remain the same, including massive government debt, deficit spending, tremendous trade deficits, and the prospects of significantly increased government regulation on innovation and business. We're in bad shape, and the only ones worse off are our kids who will be paying for this mess for the rest of their lives.
I can't say what the market will do tomorrow, next week, or next month. I can say that over time, until government and consumer debt is reigned in, we will see a declining dollar and its consequences: rising precious metals prices, rising commodity prices, complemented with declining asset prices in real estate and some parts of the equity markets. Ultimately, interest rates must also go higher to compensate holders of debt for all of this inflation.
I'll be out of gold the day the U.S. pays off the $9 trillion national debt, which I expect will be a while.
Right
In case you havn't noticed, the date of the post was January08 and everything except oil @ 125pb has happened. And, it will only get worse, "my Friend" to use your candidates favorite phrase. Pay attention silly neophyte, you are about to encounter a world like you cant even find in the history books thanks to the traitors that rule this country and you.