I got a call from the East coast this morning giving me the details on the "tit in the wringer" situation at the Commodity Exchange in New York City, what we call the COMEX. The Comex has a 9 million ounce stash of gold in it's warehouse. Someone, probably the Chinese, has an option to buy 30 million ounces at $1200 an ounce. And the price of gold ain't too far from $1200 right now. This option has two days to go and then it's either time to buy or time to roll it over for another month. But there has been no signs of anyone coming forward to roll the damn thing over and continue on with the game. It looks like someone is figuring on taking possession of the gold. And that is a lot of money to be spending, unless you are a sovereign nation with a lot of reserves. Like China or India or someone like that. 30 million ounces of gold is a big chunk of the yellow metal. But if the COMEX can't cough up the 30 million ounces then they must call around to the various central banks of foreign nations and try to borrow the stuff. They probably can't borrow that much gold. So they will be declared insolvent and that will be the end of the COMEX. They are pretty corrupt anyhow. The other thing worth noting is that China and England are pretty sure that the Tungstun ingots put on the market as gold probably came from the federal reserve bank. If this can be proven and the word hits the mainstream media then the federal reserve is bankrupt also. This stuff gets funnier by the minute. Having the COMEX and the federal reserve both go out in shame would just about toast our economy. One wonders how many countries around the world have gold coated tungsten bars in their vaults. This is going to be a mess. I mean a HUGE mess.
I talk to dedicated preppers about this coming fiasco and they act a little scared. I just tell them there ain't no reason to be scared. We have prepped and prepped some more and it will all pay off for Sam and Sadie Survivalist. This has been coming for quite a while and should be no surprise to anybody. This is just one of the reasons we have garnered our food and guns and ammo and medicines as best we could. The crooks are robbing us blind and it is going to turn around and bite them on the ass. The last act of a crooked government is to loot the country and escape with the money. We are watching that right now. We will reform ourselves into what ever we think will work and absolve ourselves from the acts of the bank robbers who are stealing from us.
I want to close with a little bit about the future. Remember the words of Charles Bell who said "DO NOT BE FOOLED!" There is a campaign to get this country going in the manner it was heading when the collapse of 2007 came upon us. It didn't work then and it will not work now. Our bill for all of the international borrowing will be over 200 billion dollars this year alone. It will quickly rise to 700 billion dollars annually. This economy that is being projected by the fedgov and the media is as phony as a $3 bill. There are SERIOUS problems in our economy. Devastating problems. And the collapse will hit like a ton of bricks falling on your head if you are not ready. Do not believe in these bastards. PREPARE! This next collapse will kick this country's ass so hard it won't even be able to walk. It is all smoke and mirrors. Lies. There is a huge campaign to get the stock market up and encourage the populace to buy for the holidays. I never realized how much the stock market influences folks. But it damn sure does. And it is all manipulated. Don't ever forget that. It was manipulated before the recession hit and it is even more manipulated now. You cannot believe the media and you cannot believe the federal government. Their figures lie and they are only interested in what little money you have. But you have the right to refuse to go along with these people and you should exercise that right. DO NOT BE FOOLED! And stay alive.
Tuesday, November 24, 2009
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Sounds like my plan to go to Aldi's this morning is a prudent one LOL.
Oh PS, the word verficiation is 'myrical'. Miracle?
I have never understood why gold has continued to be a valued asset.
Granted it is a rare metal that does not degrade materially, but why the ferocious price?
What can physically be built from gold but a dead mans crypt.
Give me steel, dirt, water, and wood.
At some point all of that gold and silver will be cast into the street as useless.
Give me steel, dirt, water, and wood.
We don't know when the time of prudence is over. All we can do is practice it until the collapse DOES happen.
I also have a time figuring out the love of gold and silver. I have plenty of dirt but I can always use more food. Many mouths to feed. Steel is nice and so it wood. Steel for tools and weapons and wood for heat and building. I can't eat gold or silver.
The most understandable reasoning I have seen on the accumulation of gold and silver is that aftr you have saved ALL other essentials and have nothing left to acquire, gold and silver might be a good source of wealth for storage. I have never had so much money that I had to worry about such a thing.
Terrence, Michael etc.:
Gold is pretty but, as you said, mostly useless (it's great to coat electrical contacts with, because it does not tarnish).
Silver, however, is useful,for making colloidal silver. It's useful in chemistry and electronics. Even post collapse, it has real industrial and medical uses. So it's not totally useless.
Seeds, food, ammo, etc. are obviously more important until you are stocked up.
One trade good to seriously consider, though, is alcohol. The writer Dmitri Orlov talked about how he bartered vodka for everything when he was visiting the USSR in their collapse. A lot of dummies will still want to get drunk, and the big distillers will be out of action. What's nice about alcohol, is you can pour it into smaller containers. Easy to divide.
If you are a serious alcoholic, don't acquire alcohol for future barter, because you'll drink it all before then. :)
Gold is a store of long-term value. It will not be useless. Even if we have a worst-case scenario collapse with a die off, eventually, the survivors will rebuild a new society. That is when the gold (and silver) will be useful - to buy land or capital goods. Historically, gold was the money for kings and large merchants (e.g. guilds; Hansiatic League). Silver was money for everyone else.
That being said, this salted gold bar story could cause severe chaos and might be the trigger that sets off the economic collapse, dollar devaluation, and bank holiday. Convert your money and stocks into preps and put the rest in gold and silver. Gold or silver coins bought now may pay off your mortgage in a year or two when we have dollar hyperinflation.
Shortly after the market collapse and bank holiday, we will see a complete collapse of the main street economy. No functioning banking system means no imports, no trucks resupplying local stores, instant shortages of goods (particularly fuel, food, and medicine), and crazy behavior from desperate sheep who now have no job, no money, no food and starving kids.
Regarding the Black Friday shopping bullshit, I've never understood what the average "American consumer" is thinking! I've never liked to buy new, expensive consumer goods, because just cluttering up the house is annoying.
Plus, the things that really add enjoyment to life are either free or really cheap! Friends. Family. A good home-cooked meal and conversation. Playing your own guitar, instead of paying $100 for a nose-bleed seat at the awful arena.
I believe that the urge of the American consumer to buy buy buy is due to their real spiritual impoverishment. This impoverishment, or really enslavement, was consciously done. The marketing geniuses and government have stripped away our sense of community, family, and self-sufficiency, so that we require buying crap to make ourselves feel better.
I read some months ago about people having serious withdrawal symptoms now that they can't afford to shop. Seriously.
As I have said before this country has pumped up the dollar and the stock market and now it is going to pop. A little gold and silver is good to have around. I think over the last 15 years I have got a bar or two off and on when I got a good price, and now I may have 100 bars. But my preps are of food, water, medical supplies, ammo and other household items because these items are going to be the new gold and silver. Don't get me wrong gold and silver will still be of use to some, and silver for colloidal silver will be a big help for many people.
I see the collapse coming after a very bad shopping season. It's all about to pop if you ask me.
Hmmmm... Publius now has me thinking about investing in copper, heh.... Happy Thanksgiving y'all.
Amen again Michael. You are right on as usual - seems we are always on the same wavelength lately - must be a preppers thing!
Have a great turkey day - probably the last normal one for a long time to come!
It is thought by many (in the know) that COMEX doesn't have half the physical gold they have sold as paper stocks.
There is a rapidly increasing amont of holders requesting physical delivery for what they fear is worthless paper..as well they should!
Their inventory will run out long before their bullshit paper does!
Yet another banker scam is about to be discoverd and it will be ugly!
My advice to anyone holding COMEX "toilet paper" is DEMAND physical and do it NOW! Of cource they'll be happy to pay you equal value in paper dollars..the question is which is more anal freindly?
If you've been watching the dollar we're losing ground everyday and I still say we'll see re-evaluation once the dollar goes below .72. So after the re-evaluation you'll see inflation of double or triple percentages...which translates into 6-8 dollar bread. Is the answer Gold..Silver? Yes and no it doesn't hurt to have some. You really need "Barter Items". You need Toilet Paper, Whiskey, Vodka, Cigs, Cigars, Cake Mixes. If you've ever been "in country" without toilet paper you'll pay $50-100 per roll...worth more than gold.
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