I met many great people at Kerry Lutz’ Masterminds Symposium in June, which is why I look forward to the follow-up event in January. Among them was John Rubino, one of the industry’s best writers – and nicest guys. And thus, amidst a sea of noxious PROPAGANDA – such as today’s garbage about a “strong European economy” and “fear of Fed tapering” – it was a pleasure to read his most recent article. In it, you’ll see a fine summation of some of the shocking charts demonstrating just how far gone the Fed’s unprecedented “mad experiment” in MONEY PRINTING has gone. Throw in this Zero Hedge article for good measure – depicting the extent of moral hazard the Fed has engendered – and you can plainly see why it can NEVER “taper.” And I’m not talking about a “token taper” to put the wolves at bay for a few weeks, but materially slowing the printing presses; which of course, are running much faster than we’re told. For that matter, wait until you see what I write tomorrow about what the government has done to the mortgage market.
The REAL economy is rapidly deteriorating, and the House of Representatives’ recent proposal to cut “SNAP” funding – by the trivial amount of $4 billion amidst a $1+ trillion of annual spending – shows just how little the government cares for its Food Stamp Nation (MUST SEE). To that end, “TBTF” banks have in just under 15 years – since the repeal of Glass-Steagall – completely commandeered all securities markets; and nowhere is such thievery more evident than in Precious Metals – as this PROOF from last Wednesday’s “trading” depicts. JP Morgan may have changed its gold “recommendation” this weekend to “buy” – while continuing to acquire PHYSICAL metal – but they are still playing the same PAPER games as usual; including their typical Sunday blitzkrieg and the 81st attack at the London open in the past 90 days…
Hopefully, you’ll utilize this one-in-a-lifetime opportunity to capitalize on the greatest market mispricing of all time; which CANNOT be sustained given rising global demand and the coming PM production collapse – as TRUST ME, these trends will not abate one bit; and in fact, will only accelerate in the coming months and years.
Finally, I’ll leave you with the latest quote from America’s liar-in-chief. Just the fact he feels compelled to state this should tell you all you need to know – as we head into this month’s cantankerous budget and “debt ceiling” negotiations (if that term can even be used to describe the current, unprecedented level of Congressional dysfunction)…
This is the United States of America, we’re not some banana republic. This is not a deadbeat nation. We don’t run out on our tab. We’re the world’s bedrock investment, the entire world looks to us to make sure the world economy is stable. We can’t just not pay our bills.
–Zero Hedge, September 20, 2013
Incidentally, I hope you enjoy the first installment of the Miles Franklin Audioblog – of which a link is supplied above. Going forward, we aim to use it as much as possible to supply valuable information in an alternative format. Listen on your computer, iPod, iPad, or car radio – as Miles Franklin tells you how things really are.