In the past 12 months, business in our industry is way down. There are a few firms out there that many of you are familiar with that have business models that may have worked 10 years ago, but don’t work now.
Any firm that gives their product away, when volume drops off, is a risk. If the owners have deep pockets and don’t mind losing money (could be over two years now), you may experience delays in receiving your product. That is the first sign that the firm you sent your money to could be having cash flow issues. That’s how it starts.
One of the “big name” firms that I will not name has logged 42 BBB complaints during this slow down. They give their gold and silver away! So, this is no surprise to me, but it may be to you if you end up with the short end of the stick like so many of Tulving’s customers did. And even those who did get refund checks or deliveries in the last two or three months may be forced to return the money and/or product to the Bankruptcy Judge, assuming Tulving files for Bankruptcy.
More and more of these issues are on the horizon. Please, be very careful whom you send your money to. Check us out. Check everyone out. This is a bad time to be lax…
Meanwhile, I thought I would save you some time and present the following Better Business Bureau results for Miles Franklin…
We have ZERO complaints in the last three years. Zero closed cases in the last 12 months. No Advertising or sales issues. No billing or collection issues. No problems with product or service. No delivery issues and no Guarantee or warranty issues. And we also offer very competitive pricing – not much above the firms that are falling by the wayside or who’s BBB ratings are sinking like a rock.
Russian Presidential Adviser Sergey Glazyev told RIA Novosti said:
Russia will abandon the US dollar as a reserve currency if the United States initiates sanctions against the Russian Federation.
–Information Clearing House, March 5, 2014
Our foreign policy has been a total disaster under this Administration’s leadership (what leadership?). If they make this mistake, then John Williams’s prediction is set into motion.
Here is an article below that I want to call to your attention today. Greg Hunter interviews John Williams, who as you know, I have a great deal of respect for.
Russian Dollar Dump Could Crash Financial System-John Williams – www.usawatchdog.com
By Greg Hunter On March 5, 2014
By Greg Hunter’s USAWatchdog.com http://usawatchdog.com/
Economist John Williams says if Russia sells its U.S. dollar holdings, it could trigger hyperinflation. Could it collapse the financial system? Williams contends, “Yes, it certainly has a potential to do that. Looking outside the United States, there is something over $16 trillion in cash, or near cash. That’s about the same size as our GDP. . . Nobody has wanted to hold the dollar for some time. The dollar, fundamentally, is weak. It couldn’t be weaker. All the major factors are against it. It’s just a matter of what would trigger the massive selling. Nobody wants to hold it. The Russians start selling, and you have China indicating a general alliance here in terms of what’s transpiring. If the rest of the world believes this is what’s going to happen, people who have been wanting to get out of the dollar for some time very easily could front-run the Russians. The scare is on. People will try to get out of it as rapidly as they can.
What would happen if there was massive dollar dumping globally? Williams says, “It would be disastrous for our markets. All those excess dollars coming in, with bonds being sold, interest rates would spike. The stock market would sell off and we’d see inflation. To prevent that and try and keep things stable, the Fed would tend to buy up those Treasuries. It would intervene wherever it could to stabilize the circumstance. It’s going to be very difficult, and it’s going to be very inflationary. Williams goes on to say, “You have to keep in mind, back in 2008, we had one of the greatest financial crises the United States had ever faced. The system was on the brink of collapse at that point in time. What the Fed and the federal government did was spend every penny they could, anything they could create or anything they could guarantee. They did everything they could possibly do to keep the system from crashing. They guaranteed all bank accounts. So, they saved the system, but now what they did has not borne fruit. We have not seen an economic recovery. We have not seen a return of health to the banking system. So, the system is very vulnerable; and if the Russians carry through with their threat, you have, indeed, the risk of it collapsing the system.”
Continue reading on USAWatchDog.com.
Jim Willie is on the same page as John Williams. I have underlined his Ukraine/dollar comments below:
RUSSIA CANNOT BE ISOLATED.
The West is in for a gigantic surprise in the sequence of events to unfold. They have placed criminal oligarchs into top government positions in Ukraine. Doing so might suit the West but not the Ukrainian people. The political brain trust in Berlin shows extremely errant strategy, still kowtowing to the USGovt and London Elite in an incomprehensible manner. The West cannot isolate Russia, which is the latest absurd bone-headed strategy. They need Russia in vital ways that will become apparent when the West faces energy supply cutoff or forced Gold payments during an open global USDollar rejection. The US will quickly feel the lost Petro-Dollar gear mechanisms. China has already aligned itself beside Russia, which makes isolation impossible. Consider the Russian commodity supply and Chinese industrial power, the new axis to the Eurasian Trade Zone. The West cannot continue to bully Russia & China. Poking a stick in the bear’s face will not work for long.
Disrespecting the Chinese creditor is deep folly. The risk that coincides is for the two Asian superpowers to threaten or actually execute a dumping initiative of USTreasury Bonds, and force the United States to use its last card in a grotesque display of hugely amplified monetary expansion. The US would collapse by falling on its own sword, the event occurring in the Weimar chamber. A super high volume bond monetization machine to cover globally dumped USTBonds is a strong likelihood as climax event, with a broken derivative mechanism that is revealed during its fracture. The London banker murders (another Jackass correct forecast, made in mid-2011) indicate a motive to keep covered up the extreme $100 billion JPMorgan derivative losses at the hands of the London Whale Bruno Iksil, first sighted in May 2012. The accelerated hyper monetary inflation in response to Russian & Chinese joint retaliation would finally kill the USDollar. The echo event, born from failure, would be for the USGovt to launch the new split Scheiss Dollar. Then the USGovt could have its domestic currency finally, and then wreck it with an assured painful sequence of devaluations. The fundamentals for the US domestic only currency are truly horrible, typical of a Third World nation. Ukraine is about the last gasp of the USDollar. It has no viable defense.
UKRAINE AS WATERLOO FOR THE USDOLLAR.
Ukraine is the Waterloo event for Team Obama and the Wall Street handlers, the true controllers of the White House puppet. Ukraine will lead to wreckage to the USDollar and its USTBond partner in crime. Witness the death of the USDollar and the Birth of both the Gold Trade Standard, on the new Eurasian Trade Zone landscape. Neither Russia nor China will cooperate on the IMF super sovereign reformed currency basket at this point, not during extreme hostility and conflict. Hope and pray for cooler heads to prevail, since already many serious military attacks have occurred with advanced weapons off the Syrian coast. The Western Press prefers to frame the Ukraine situation as one more curious Orange Revolution event staged in Eastern Europe, akin to the other deceptive Arab Spring events. The old Soviet Union was trapped years ago, forced to use hyper monetary inflation in defense, as the nation imploded financially. The United States is now trapped in an ironic parallel manner, and will be exposed for its heretic inflationary response that ramps up to obscene volumes, followed by financial implosion. In fact, the events from here onward are the final hurrah for the USDollar regime and the criminal cabal. Now has never been a better time to own a big stack of gold & silver coins & bars, stored in a secure place outside the United States, outside England, outside Switzerland, even outside Canada. The people must defend against a climax of systemic failure, led by arrogance, stupidity, desperation, and delusion, even armed aggression. It remains to be seen whether the Kremlin has some secret allies who might emerge in time, from other worlds. But that is an entire other story to be told someday maybe. We earthlings will all find out soon enough. Times are changing fast, and better to be alert than to get hurt.
– Jim Willie, Hat Trick Letter, March 4, 2014
It is precisely because Black Swan events – like the topic above, which are always unexpected and come out of nowhere and would have an immediate and profound affect on the dollar and gold – that you cannot make the mistake to sit on the sidelines and fish for a bottom (ya hear me Edelson?)