Welcome to USA 2014
It’s so screwed up out there. The bosses never know anything. From Obama to Corzine and on down, they all say, “I didn’t know.”
The Senate is a laughing stock. Congress is a laughing stock.
It seems like every week another Wall Street firm (usually JPM) is being sued for manipulating one of the markets but never gold or silver. That’s too strange to be a coincidence.
Today’s “normal” is a rising stock market and falling gold. There is an absence of fairness, morality and honest government.
The Pentagon is undergoing another audit for wasting billions of dollars. The White House announced that they are baring the press. Our government’s data is not only flawed, it’s deliberately altered for political gain.
Even if you don’t feel a need for gold as an inflation hedge (why would you when the BLS says it’s 1%? – but Shadowstats makes the case that it is actually around 9%), how about considering it as a hedge against a totally dysfunctional, lying government and greedy manipulating Wall Street.
We would probably be better off if we found a way to force New York City and Washington DC to secede from the US. Let them exist as a separate country, apart from America. (Ken M., I’d miss you, but if that’s the price we have to pay to get rid of D.C. it would be worth it.)
That’s pretty extreme – it’s times like this that sow the seeds of another major war – to re-focus us away from the mess we have here, now, in our face.
What really bothers me is when my portfolio and my business start to take off (again); there will be little less left to cheer about.
When I graduated from college in 1964 I believed in progress. I believed that the sky was the limit. It was, for a lot of us. But now, with the disparity of wealth and lack of enough high paying jobs for the college graduates, the future is not nearly as bright. What a pity and it only took half a century to lose it all.
If you are a recent college graduate and want a promising job, you will need contacts. The good jobs will go to friends and relatives and those with the right contacts. The first of my five grandchildren hits the street looking for work this summer. Our family is not immune.
Looking for the truth or a job? Here is your best hope…
Be sure and listen to Sprott’s interview with Jim Sinclair, below. Here are some of the highlights…
The inflation we are facing is not from a strong economy or heightened demand. It is a Currency Induced Cost Push Inflation. Prices will rise when the dollar starts to falter. Hyper-liquidity is hyperinflation and the four trillion dollar recently inserted into the economy qualifies as hyperinflation. There is no way out. The Fed has no exit plan. If the Fed sells assets, confidence will break and when that happens the dollar will break. That is all coming.
The participation rate in the economy is at an all-time low. Housing is declining. These are the real indicators of a declining economy. They are visible in spite of manipulating of the numbers.
47% are on food stamps and they will vote for whoever gives out the dole. The rising debt will not stop. It buys votes.
There will be a double-digit Super Wealth Tax, which in effect is a bank bail-in. Probably at least 20%. The West will pull the trigger before the action – the banks that fail the stringent solvency and liquidity tests will get selective bail-ins. The unsecured lenders will be the losers, and that is YOU.
Do not keep funds in any bank or brokerage that took Tarp money.
Remember gold is for savings and currency is for spending.
Gold should climb to $2200 – $2400 and then $3200 – $3500 against a wall of disbelief.
You’ve seen the great flushing (Lehman), and now we are in the great leveling and then in 2016 comes the great reset.
The Brics will adopt it the West will not. The West will finally adopt it (free gold) by 2020 and the price of gold will be embarrassing to quote.
Ask the Expert – Jim Sinclair (November 2013)
Posted November 23rd, 2013 at 1:10 AM (CST) by John Williams & filed under Sprott Asset Management
In this exclusive interview, Jim Sinclair answers questions from our readers about the gold and silver market and his outlook on the economy.
Ask The Expert – Jim Sinclair (November 2013) | Sprott Money News
–jsmineset.com, November 23, 2013
Wonder why gold opened on Monday morning down nearly $14? Here’s your answer – and it has nothing to do with anything except an unregulated market and an aggressive not-for-profit seller in a thinly traded market. Below is an article from Zero Hedge:
Gold Hammering Leads To Another Overnight Gold Market Halt
Submitted by Tyler Durden on 11/25/2013 – 08:29
Shortly after 1amET this morning, someone with no apparent fiduciary duty to their client’s for best execution or any apparent trade allocation expertise decided it was time to dump 1500 contracts into an entirely illiquid gold futures market. The 150,000 ounce notional sell order ($184.5 million), captured graphically by Nanex, sent the price down $10 instaneously, tripped the exchange’s circuit breakers and halted the market’s trading for 20 seconds (once again). This is now the 4th market halt in the past 3 months (and this time on no news whatsoever), as the manipulative monkey-hammerings from who knows whom (BIS?) is becoming increasingly obvious.
–Zero Hedge, November 25, 2013
Nice article David, maybe the best you’ve written that I’ve ever seen.
By the way though, almost all jobs in the full time range are now going to those with the right contacts, friend, relatives etc.
Ohhhhh, but 2020?
I’ll certainly be old enough to be cranky and laugh and
cackle then! Pick it up a little, eh???