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We are LIVING through an epic moment in history, one that future generations will write books about. In the future, there will be classes taught in college on this time period. Our grandchildren will wonder how we let things get so out of hand and destroyed the Greatest Country the world has even seen in a mere 60-years, after the conclusion of WWII. We will live through it, but the ride will be very bumpy.  Our grandparents lived through a Great Depression and two World Wars. For most people, the world didn’t come to an end, at least not here, in America.  We were born during a boom period, after these events were over, and a better future lay ahead for all of the children of the 50s and 60s. We were handed the chance for a better life than our parents ever had, but can we in good conscience say that our children and grandchildren will have a better life than we did? It’s a crime that the scumbags on Wall Street and the bumbling idiots that we elected and sent to Washington ruined it – not so much for us, but for our kids and grandchildren. I fear that they will feel the brunt of it all. We are leaving them a bankrupt nation, financially and ethically. How could we let this happen without so much as a whimper? Ron Paul, we need you more than ever. He really is our last hope to stop the decay.

Can anyone justify how John Corzine (Goldman Sachs, of course) can defend the theft of $1.2 trillion of client’s money with a defense based on “I meant well,” and “I don’t know what happened to the money?” Aren’t you outraged that no charges are filed. He should be behind bars now, awaiting trial.  They throw Tom Peters in jail, for merely ripping investors off of a few tens of billions, but Corzine gets off scot-free. The white shoe boys in NYC never do time (unless your last name was Madoff, but he was an individual and not part of the banking world).

Now that my juices are flowing, I have to express my utter disgust for the CME, the group of thugs that run the Chicago Board of Trade and Comex. They promised to stand behind their clients (sort of like the FDIC does for bank deposits) but when push came to shove, they did not. A dear friend of mine has been trading on the Chicago Board of Trade for many years. He tells me that most of the traders there kept their personal money in their trading accounts (used to cover margin requirements) because they all felt it was safer than in a bank. Now, some 20-30% is gone, and the CME is not standing behind their own traders. They are fools! They have killed their own industry. Who can ever trust them again? Even people like the very experienced and successful Bill Fleckenstein lost money with MF Global, as did Gerald Celente (whose comments are included in today’s daily). Do read the Celente article. He is your guiding light to the future.

In the name of nostalgia, I recently purchased a magnificent oil painting by the British artist, Robert Taylor, titled Farewell America. Taylor is the most famous painter of aviation art, but his early works in the 80s were maritime. He painted Farewell America in 1992. It’s mounted on the wall, above my desk and computer, in my Florida office. My office overlooks the mighty Atlantic Ocean. Farewell America depicts the last voyage of the Queen Mary, sailing off to Europe from New York. It’s signed by the captain, Treasure Jones.

Farewell America is also a fitting title, as it looks back on America in her glory days in the 50s and 60s – before we let it all slip away. If you want a specific date, how about August 15, 1971, the day that Richard Nixon de-linked the dollar from its gold backing. That date marked the beginning of the end of the US Dollar and it has lost nearly 80% of its value in the ensuing 30-years. The inflation that was a result of Nixon’s decision, which stripped away the discipline of a gold standard, caused the Internet Bubble, the Housing Bubble and now the Bond Bubble, which will be the bubble of all bubbles. When interest rates start to rise, the bursting of the Bond Bubble will dwarf all of the previous bubbles by an order of magnitude. Gold and silver are your only monetary protection.

Yesterday, I presented the King World News interview with “The London Trader,” where he pointed out that the big money was bypassing Comex and going directly to the gold miners. Today, I follow it up with the rest of his interview with Eric King and for all you silver enthusiasts, this is a don’t miss interview!

London Trader – There are Tremendous Silver Shortages

As you can see in the following chart, gold has strong support at $1,562.50 and resistance at $1,650. The $100 trading-range has held up since August, but I expect it to change very soon – and to the upside, not the downside, for reasons presented in yesterday’s newsletter.

Silver has to retake the $34 to $35 range before a major move toward $50 will be in play. It’s coming, it’s coming. Relax and enjoy the Holiday season. 2012 will be one to remember and the bulls will be the ones smiling a year from now.

I’ll finish with a few sage words from our own Andy Hoffman:
Given that I know gold is going, MUCH, MUCH higher, it doesn’t matter what number I put in the title.  At current prices, PHYSICAL precious metals are the bargain of a lifetime, far more so than when gold was $250/ounce a decade ago, and silver just $4/ounce.  The explosion of global MONEY PRINTING since 2000 will be remembered as the most insane financial experiment of all time, which unfortunately is just getting started.  That $100,000/ounce gold projection is NOT a joke.