How can we move on financially and economically in a system that has NO transparency? We have a banking system that allows 5 Banks to control 40% of our GDP and NO ONE can know what their balance sheets really look like. Imagine trying to calculate the impact of another economic downturn facing these obstacles yet we are told repeatedly that these monoliths have passed a stringent set of stress tests. A sovereign country just had its banking system collapse virtually without warning and the depositors were not even handed an IOU for their deposits over 100K....they were handed worthless bank stock instead.....unlikely to ever be redeemed for anything.
What do you do? Maybe you should invest in the stock market. After all Ben Bernanke and CNBS tell you that its safe out. Ben and CNBS repeatedly told you and Congress that there was no housing bubble in 2006 and 2007. They told you that recession was not in the cards repeatedly in 2007 while the country was melting down right under your feet. The market slid into oblivion throughout 2008 while they told you constantly there was NO crisis, but by 2010 they had NO problem stating REPEATEDLY that they had turned around the economy from the economic CRISIS and the EDGE OF THE ABYSS...... So now you are to believe that we are in no danger either even though many metrics are screaming that something is happening world wide while Ben says that we are going to be able to slow the printing press soon.
Mathematics says differently and nature does obey the laws of mathematics just as Detroit eventually had to obey the laws of mathematics. Believe Ben or believe your lyin' eyes? Its always YOUR choice. Ben has told you something else and that is gold is a barbarous relic that he has no idea why anyone would want to own it in a "modern fiat economy". So don't buy it...... You can make your own determination on the meaning of "it".
My Dear Extended Family,
On the fundamental view, I have directed you to Global European Anticipation Bulletin. I find no other source with which I agree more than GEAB. The following demands our consideration.
The GEAB site is
GEAB shockingly says, "Historians will certainly consider the 2008 crisis as a warning shot before that of 2013. All of the world's regions won't be a can be summarized as the following affected the same way but all will suffer. According to LEAP/ E2020 the stages of this second crisis as follows:
-end 2013, financial impact: collapse of financial markets especially in the US and Japan. Banks can no longer be saved by the states and BAIL-Ins are put in place;
-end 2013 / 2014 spreading to the real economy: The financial impasse causes / reveals a major world recession and the reduction of international trade;
-2014, social impact: The economic deterioration causes unemployment to explode, in the United States the dollar's decline lowers the standard of living, riots mushroom everywhere;
-2014 political crisis: the governments of the most affected countries are under fire for their handling of the crisis, forced resignations and early elections are expected, if not coups;
-2014-2015, international management of the crisis: together Euroland and the BRICS impose a new international monetary system and lay down the basis of new global governance;
-2015: The least affected regions have exited the crisis definitively;
-2018: It will take the United States, the United Kingdom and Japan five years to purge themselves of the crisis with, ultimately, a greatly reduced standard of living and a considerable loss of global influence (resulting from their refusal to participate in the re-casting of global governance on new bases)."
I agree totally with the steps. My timing on the final step is more 2020 than 2018 with the USA, GB and Japan taking seven years to purge the criminals that have gotten us to this point via OTC derivative frauds.
I will take this discussion further this weekend, as this is enough for you to chew on today.
Print this article out and post it to your bulletin board for constant reference.
The Chairman of the Federal Reserve has by good chance selected the exact right date to retire. I pity the next victim to serve.
Gold is for savings. Fiat currency is for transactions only.