We’ve woken up the last couple of days to protesting and rioting in both Greece and Spain. But who cares? It’s on the other side of the ocean, doesn’t affect us, so like I said…who cares? First off, they are protesting for a reason, the reason being “austerity” and everything that goes along with it. The future holds higher taxes, less free lunches and lower services such as the police responding to your calls.
Greeks, Spaniards and recently Italians have responded by pulling balances from their banks and moved them to banks in other nations and I am sure some into precious metals. These actions alone have put further pressure on the respective sovereign governments because a failing banking system not only is harmful to the economy but lowers the demand for government bonds which these Ponzi ites live off of.
When I asked “who cares?,” …you should. You should care because this very same phenomenon will make its way here to American shores. Whether it be because some bank fails in rural Spain and spreads or because our banks have the same, only bigger, problems, it does not matter. Yes I know… but, but what about QE#374? “They’ll never let it happen here” is the refrain and you’re correct… they will try to avoid it. But, I believe that the derivatives markets are so big and so overwhelming that (not to mention intertwined and complicated) that the ultimate collapse will arrive here unannounced and uninvited.
The U.S. is not immune from the “austerity measures” that are being introduced now in parts of Europe, it is only delayed because we have the reserve currency. Math is math and the math does not and cannot add up here or anywhere for that matter. Pensions, benefits and even “account balances” will be cut and the protests will be on. I can only advise that you foresee this coming and don’t become part of the crowds that will gather in anger because their bacon was taken. Know that it’s coming and prepare for it.
Plan for as many aspects of your life as you can. As an example (because I believe my own bull as they say), I arranged today to store 1 year’s worth of hay for my horse. He has to eat and I will have transportation albeit a little slower than usual when gas doesn’t flow. Please understand that at the core of all of this no matter what you are told is that the money is fake. Banks and the credit that they provide will stop dead in it’s tracks. Distribution of all sorts will be disrupted. THE WORST thing that you can possibly do will be to join in with the angry mobs and protest. It will do no good and only put yourself in harms way. Prepare now, go into hiding later and hopefully we will experience a reset where the “wealth” that you stored in barbarous relics and the their producers will serve you later. I say “hopefully” because in a world that is without “law”, you can have mighty wealth but never get the chance to enjoy the fruits of your labor and intelligence.
Call me nuts or negative if you like. I am calling it as I see it and I see it as everything is “hollowed out” and will not function. Yes, the PPT can support the equity markets and the central banks can “fund” treasury auctions, this does change the fact that the global financial foundation is cracked and crumbling. “What a riot” will soon have a new meaning… even to Americans.
dear Mr. Holter, Keep writing …I read every article…Thanks…..PS Re: previous article, I cannot watch CNBC if I just ate……….PSS Read Richard Maybury’s short book ‘Whatever Happened to Penny Candy’……inflation happened
Jerry, I’ll keep writing if you keep reading!
Mr. Holter, I believe that you are spot on in your words above! No one in their right mind should think that because they’ve prepared that everything will be ok. Even the best laid plans can go awry and do! I’d have plan B available when the SHTF and DEFINITELY not be in the crowds shouting; my prediction is that people will just start disappearing when it all goes down!
Very well couuld be, all you can do is the best that you can do and not beat yourself up if you miss something…because inevitably we all will.
I’m sure that most that read this article will agree with it as they probably found it as they were reading similar such articles. That being said, while there are so many of us that agree and acknowledge with what is “here”, it continually amazes me how quickly I am seen as a tinfoil hat wearing, ufo abducted “quack” when I try to enlighten some of my friends to the inevitable.
David Schectman wrote in one of his editorials that even “he” (and his circle of friends I would have assumed would be far more in touch with reality then mine) receives looks as he is a raving lunatic when he starts speaking of the impending crash etc that is upon our doorstep. Quite frankly, my income is so stressed, I am unable to store any vast amounts of anything at this time, however, I feel that being armed with knowledge prepares me many many steps ahead of the common sheeple of today. That knowledge comes from people such as yourself, Mr. Holter and so many others that dedicate your time in bringing it to us. For that, I want to thank you!!
PS: My brother had an intersting point the other day in that ‘sheeple’ may be the wrong term. He thinks they act more like a cat in that they are seemingly arrogant, entitled, and would stand in the road to only be run over. Where a sheep will at least run from the oncoming danger!
Some valid points Dave. As for “stocking up”, you can only do what you can do. May I suggest that you start with the very basics such as “poundages” of rice and beans? Not ideal but will keep you and family from going hungry while not busting your budget. $500 worth of beans, rice and flour for tortillas goes a long long way!