“The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title.” – Anonymous
Backwoods Jack sent me an Email last night. He wrote:
We worry about you and Susan. When our country implodes, as you have predicted, Miami will become a focal point of have-nots and terrorists who will storm the castles housing the “fat cats”. Ranting Andy says it’s inevitable! You are always welcome at Rimrock where we have a six-month supply of everything including toilet paper and liquor.
How can you get out of Miami with such limited exits?
Jack makes light of our problems (but his offer and his concern is sincere). Truth is – the gulf between the haves and the have-nots is widening by the day. The envy and anger is just starting to boil up to the surface. Have you paid any attention to the rhetoric at the “Wall Street” protests? The anger is directed at the inequalities between the rich and the rest, not just at Wall Street and the bankers.
(I hope that Backwoods Jack reads the Whiskey and Gunpowder rant in today’s daily.)
If hyperinflation, along with a Greater Depression, actually comes to pass here in America, owning gold and silver will not be enough to protect us. Gerald Celente discusses this in his Trends Research reports. Jack’s sarcastic comments about having a six-month supply of booze and toilet paper (and food and guns) is not so far fetched. Living here, in Miami, it makes sense to have a few weeks supply of food, water, cash – and the means to protect them. We are in the cross hairs of Mother Nature every fall (Think Katrina). Any number of “events” could empty the food shelves in a day or two. I believe that having the “insurance” of some of life’s basic necessities is prudent, and not over-reacting. A trip to Costco is in order!
Jim Dines, “The Original Gold Bug,” is very protective about his subscription-only newsletter. I took the liberty to lift a few paragraphs from his most recent commentary about the impending currency crisis. If you want to know his views on investing – well, you will just have to subscribe.
Once again, I have included an excellent article from NIA. We do NOT endorse their mining share recommendations, but Ranting Andy agrees with me – their information is first rate.
Throughout the 90s, we worked closely with Frank Sr. and Frank Jr. Suess at BFI, the Swiss investment services firm. Frank Sr. has retired and Frank Jr. now runs the firm. In todays daily, I present some comments from Frank in the Daily Bell. It’s always refreshing to get the Swiss view on what is happening in Europe.