Warning Signs Of Full Spectrum Collapse Are Everywhere
136 Comments »By Giordano Bruno
Neithercorp Press – 05/31/2010
The sovereign debt crisis in Greece and many other European nations has, at least for the moment, opened a gap in the wash of financial disinformation that has prevailed in the mainstream media for the past year. The average American is now more aware of the terrible costs of living in an artificially driven and widely manipulated “global economy”, and has also been exposed (at least for the moment) to the very real frailties in our own markets, which have been hidden or downplayed by the government as well as disingenuous establishment economists. Events in the EU, however, are only a glimpse of the greater and more imminent threats we face in the near future. In this article we will look at some of the latest and most disturbing moves by governments and financial institutions, as well as tell-tale signs in our own local cities, which signal that a full-spectrum collapse of world markets and possibly our own currency is not only in progress, but nearing completion.
World Market Signals
All eyes have been focused on the Greek situation for the past month, but we cannot let this one storm of the financial crisis distract us from the other threats that lie just beyond the horizon. There are many far more pressing concerns than insolvency in Southern Europe, though we’ve been drowning in “Greek Contagion” rhetoric 24/7 and it is difficult to think of much else. The idea that instability in Greece is somehow responsible for instability in the rest of the EU is simply unfounded. Most nations in the EU were on the verge of bankruptcy long before the sovereign debt crisis in Greece began. Spain, for instance, has just lost its AAA credit grade with Fitch Ratings due to its massive deficits:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqiS_6hwClPg&pos=1
Italy, Ireland, and the UK are likely not far behind. The UK posted record deficits in April:
http://www.bloomberg.com/apps/news?pid=20601068&sid=a3CziXMGujDA
Their government has recently called for budget cuts which could target some welfare, unemployment, and disability payouts in order to blunt the edge of their own growing debt problem. Some say this move is too little too late, and that Britain may have to face the same austerity measures as Greece just to survive:
http://www.marketwatch.com/story/uk-budget-cutting-begins-with-83-billion-slice-2010-05-24
There are two problems with the news coming out of the EU. First, establishment economists will attempt to dilute public awareness of the issues by diverting all blame to the Greek crisis. By making claims of Greek contagion, they give the masses the false impression that stopping the fallout in Greece will somehow cure the systematic meltdown in the rest of the world. Already, euro-zone economists (propagandists) are feeding the Greek people the same lie as our economists have been feeding us, declaring that a weak currency and import capability, combined with greater reliance on other nations and the IMF, will create some kind of ‘export nirvana’, and that Greece will suddenly rise from the grave as a kind of industrial powerhouse:
http://www.reuters.com/article/idUSTRE64G11U20100517
This is the same double-think the globalists have been using everywhere; “Weakness is strength”.
Regardless of what talking-head financial analysts tell us in the next six moths, we must never forget that the collapse was not caused by a single nation, but the actions of all governments in collusion with international banks over a period of decades.
Second, we will be hearing a lot in the news over the coming year about the credit grades of rating companies such as Fitch or Moodys. However, these credit grades are a purely psychological affair. If they were based on concrete fundamentals, Spain would have lost its AAA credit rating long before now, not to mention the UK or the U.S. The fact that they are finally willing to begin downgrading the debt value of certain countries only shows that circumstances have become so untenable that rating agencies know they will look foolish if they do not do otherwise. Now that they have begun, watch for rating downgrades to accelerate in the coming year, especially in the EU, punishing the markets with repetitive stock plunges.
The biggest news, though, the news that no one is paying much attention to, is the activity in Asia. In the midst of all the chaos across the Atlantic, we have forgotten to take note of the activities of the great elephant in the room just across the Pacific.
China has been busy, and the speed at which they are shifting their economic system is even startling. In past articles we covered the Chinese dumping of U.S. Treasury Bonds in response to our ever rising national debt and dangerous liquidity measures by the private Federal Reserve. All this, we believed, was in preparation for a valuation of the Yuan and a decoupling of the traditional trade relationship between China and America.
To be clear, some economists have begun overstating the recent purchases of new T-bills by China in response to the European debt crisis. Meaning, they believe China will now turn back to the Dollar as a safe haven asset against a fall in the Euro. China has only increased its reserves by 2% in response to the possibility of a Euro collapse, which in my opinion is hardly a show of faith in the Dollar. Also, the vast majority of purchases in recent months have been for SHORT TERM treasury bonds maturing in 26 weeks or less. You can see the chart for all April purchases here:
http://1.bp.blogspot.com/_8hz7JYvMfTU/S9pCMlaajjI/AAAAAAAABLY/GP5lbUUmqwI/s1600/Apr10-Auction.JPG
Countries buy short term bonds in our debt because they see our long term debt as a severe risk. With our deficits climbing to levels never dreamed of only ten years ago, we need long term investment in our Treasuries if we are to sustain the U.S. economy. These investments are not coming, nor is it probable that they will in the future. China is now ready to de-peg the Yuan from the Dollar if not break from the American financial system completely.
Back in 2008, rumor spread in some investment circles that China was planning to issue its own T-bonds; called “Panda Bonds” or “Yuan Bonds”:
As it turns out, Yuan Bonds are no longer a rumor. Issued late last year with little fanfare, and considered by some investors as a novelty, Chinese Treasuries are now growing far beyond expectations:
http://english.peopledaily.com.cn/90001/90778/90859/6986357.html
Even more intriguing, China has opened its index futures to foreign investors, revealing a desire to take a more central role in world economic activity:
http://english.peopledaily.com.cn/90001/90778/90862/002046.html
China has had trillions of dollars in currency reserves which help create the trade deficit that allows their industrial based export economy to thrive. Why would they want to issue bonds in their own currency, increasing the value of the Yuan and ending their trade advantage? Because China’s goal is to convert its billion citizen society into an import and consumption hub while making the RMB, or the Yuan, a reserve currency to rival the Euro and the Dollar.
Indeed, these bonds are meant to strengthen the Yuan, increase its prominence as a reserve currency, and eventually allow China to break from U.S. treasuries entirely. It is also possible that the valuation of the Yuan could make it eligible for inclusion in the IMF’s Special Drawing Rights basket currency, a goal China has openly expressed:
http://www.reuters.com/article/idUSTRE6250LC20100306
China has strengthened ties with Indian markets, African markets, and formed the ASEAN trading block. ASEAN is now attempting to “unite” with the European Union in order to “combat” the global financial crisis:
http://english.peopledaily.com.cn/90001/90777/90856/7001488.html
Every single action by China in the past two years indicates that they are not only preparing to break with the U.S., but that they are ready to do so today if they preferred. The bottom line is this: China wants reserve status for the Yuan, and China wants the Greenback replaced as the world reserve currency. When China de-pegs the Yuan from the Dollar, they will begin dumping whatever U.S. treasuries they still hold, allowing the Yuan to strengthen and the Dollar to fall. This will be a disaster for the U.S. economy, and it could conceivably happen before the end of this year.
Not far off the coast of China, Japan has found itself in dire straights. Still clinging to the traditional export relationship with the U.S., America is no longer consuming Japanese goods anywhere near the pace they were once accustomed. This has resulted in a deflationary spiral in Japan’s markets, as well as wages and wholesale prices of goods. Expect to hear much more about this before the end of 2010:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9.PG6nGY6_g&pos=5
The Japanese government has on several occasions suggested ending reliance on the U.S., and to discontinue purchases of U.S. Treasuries. They have also hinted at the possibility of fully joining China’s ASEAN trading bloc as a way to offset any damage done by breaking from American markets. The deflationary collapse in Japan is extremely hazardous and grows worse now with each passing month. Japan may soon have no other choice but to turn to ASEAN for trade support and end its relationship with the U.S. Once again, this move would bring calamity to American stocks and to our currency.
Brazil, a member of the BRIC group of nations along with China, is facing serious upheaval in its bond markets:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUVznIauvQYg&pos=4
The Brazilian currency is also declining in a fashion much like the Euro, and their sovereign debt issues are becoming unmanageable. This in turn could lead to greater pressure from BRIC nations to push for a new reserve currency outside of the Dollar and the Euro.
These signals across the globe are like the swell of the tide just before the onslaught of a hurricane. If you know how to read the waters, then you know when its time to stop the beach party and run for cover.
American Market Signals
Though the infinite stimulus by the Federal Reserve and the skewing of statistics by government agencies like the Labor Department have lead the average American to believe a recovery is in the making, the fact is, our situation has only become worse since the initial collapse began in 2007. Most recent signs indicate we may soon return to the hyper-volatility we saw in the Dow back in 2008, but this time, the Dollar will follow the plunge of stocks instead of hedging against it.
Key measurements of credit instability are once again spiking, just as they were before the Dow plummeted out of control in 2008. As you can see from the chart below, 2 year swap spreads slowly rolled above 60 basis points just before the Dow began to plunge:
This year, 2 year swap spreads have rocketed up from 9.6 basis points in March, to as much as 64 basis points in May! That’s a seven fold increase in the span of a couple of months, unlike the collapse of 2008, which saw spreads rise much slower:
Credit swap spreads rise when banks charge higher premiums. Banks charge higher premiums when they do not trust the creditworthiness of other banks. Corporate bond sales have fallen to the lowest levels in a decade:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZWveN7GJtks&pos=7
The swap spread chart is basically a red flag that goes up when banks are preparing for serious market turmoil. It seems as though that turmoil may be near due to the explosion in swap spreads in such a short period of time. You can read more about swap spreads and their warning signs here:
http://www.moneyandmarkets.com/credit-crisis-indicators-going-bonkers-again-batten-down-the-hatches-39253
The warnings behind swap spreads are substantiated by the behavior of U.S. stocks in May, which had the worst profit losses since 1940:
http://www.bloomberg.com/apps/news?pid=20601087&sid=apgUzNgFGKLA
Private wages have sunk to historic lows, while government welfare payouts have risen to historic highs. This is a sure sign of an economy that is about to flop on an epic scale:
http://www.usatoday.com/money/economy/income/2010-05-24-income-shifts-from-private-sector_N.htm
Mass layoffs in April also reveal a rather ironic problem. Ever since the bailouts began, establishment heads have been playing up the “advantages” of inflation, claiming that America would soon return to a stronger industrial base and that more factory jobs were on the way. However, a recent measure of mass layoffs by companies shows that widespread job cuts were led by manufacturers who shed workers even as the economy was supposedly in the midst of recovery!
This means that there is no growth in industrial jobs, and the hypothetical plans and promises of the pro-inflation crowd bear little-to-no weight in the real world.
The unemployment issue is also liable to be exacerbated in the next month, largely due to the expiration of government unemployment benefits on June 2nd. The Senate is not even set to convene discussion on extensions until June 7th, after Memorial recess. The fact that they refused to handle the matter until after benefits have already expired may suggest that they do not intend to extend unemployment at all. Millions of people who have remained unemployed for long periods due to the recession could lose benefits all at once:
State And Local Signals
The big story in state and local markets is municipal bonds. Investment in local debt has completely dried up. States and cities across America are amassing impressive budget shortfalls in record time. California as a whole is best known for being on the verge of debt default, but little do we hear about individual towns and counties within California that are already talking about filing for Chapter 9:
http://www.time.com/time/business/article/0,8599,1991062,00.html
http://www.reuters.com/article/idUSTRE64Q6CQ20100527
California is not the only state with cities on the brink. The National League of Cities has reported that U.S. municipalities will come up short on debts to the tune of up to $80 billion:
http://money.cnn.com/2010/05/28/news/economy/american_cities_broke.fortune/index.htm
According to the Economic Policy Journal, 32 states are now technically bankrupt, and are borrowing money from the Federal Treasury just to keep up with unemployment benefits:
http://www.economicpolicyjournal.com/2010/05/32-states-have-borrowed-from-treasury.html
What we are looking at appears to be a snowballing implosion of municipal funding, starting small with cities and counties one by one filing for bankruptcy until a crescendo of debt default is reached, resulting in the breakdown of state governments, making them totally reliant on fiat from the Treasury and the Federal Reserve just to function. This is yet another opportunity for hyperinflation to fester.
We might think of corporations as international and not local, but since corporate chains now dominate local economy, it is important to consider them in a local light. Municipal Bonds are not the only train wreck in progress. As we mentioned above, corporate bond markets are also now frozen. This could lead to a whole host of financing issues for corporations, not to mention even more downsizing and job losses.
Wal-Mart is one example of a major corporate chain that is ingrained into the financial root of most communities (for good or ill), and it is also an example of a chain at risk:
http://money.cnn.com/2010/05/20/news/economy/consumer_retail_walmart.fortune/index.htm
When the sales of a monstrous price undercutting consumer outlet like Wal-Mart start slipping, then we are in serious trouble.
There are only two cures for the current debt landslide we are now in the midst of. States and cities could make radical cuts in spending and put new programs on hold until the crisis has passed. It is highly doubtful our government officials will suddenly take on a fiscally conservative approach at this late juncture. The only other option is to raise taxes to levels never before seen and print money out of thin air to pay off debts (the most probable scenario). Printing money does little to actually solve our insolvency issues, though. It does not remove debt, it just reallocates it. By injecting fiat into state economies and corporate banks, we only move debt from the local and state sector to the federal sector, not to mention devalue the Dollar itself. Higher taxes would also squeeze the American consumer (the lifeblood of our 70% consumer based economy) even further, ending what little chance we had left to rebuild Mainstreet.
These factors and many others that have arisen in the past 6 months do not demonstrate a financial system that is catching its breath and climbing from the depths, but one on an erratic ride tethered like a daredevil to a frayed bungee-cord; eventually, things are going to snap, and the ride will end…
RSS
Well Gio,from now on I will be using this particular article for explanations to the ditto heads on MSNBC Newsvine and CNN blog talk to explain the lack of real recovery.Again you nailed it and thank you for the wealth of links provided in this piece.I am curious also if you have seen National Inflation Associations’ doc called “Meltup”? and if so what is your take on it? It seems pretty much in line with bullet points you guys hit on here in the realm of:{hyperinflation,The Fed,unemployment,Central Bank practices, the mathematical impossibilities to pay down deficits and debt…}
thanks for your time.
great summation of the facts. without even considering a black swan event you have shown the road ahead in a realistic time frame.
not a pretty picture. would it be a stretch to say gold and silver , bullets and beans? i don’t think so. may the lord have mercy.
As a nurse ~ I know that while symptoms can help determine the cause ~ they shouldn’t be misinterpreted as being the cause.
The information which you share ~ in this and so many other articles ~ has helped me do that ~ in understanding the turbulent times which we’re living. What is really behind events I see unfolding ~ and even being able to anticipate probable future events.
Have taken advantage of this well articulated information ~ in sharing with so may people I know ~ who are still what I’ve seen termed as a ‘sheeple’.
Again~ thank you.
Is hyperinflation or high inflation really the case? The IMF, according to the radio interview below, says M3 is falling.
http://kereport.com/weekendshow/weekendbt-may2910-seg5.html
I have been reading your essay’s for some time now, and unfortunately, what you describe makes sense to me. I say “unfortunately” because this process will be very difficult and potentially dangerous.
Do you think there is an alternative scenario or do you believe we are irrevocably set on this course?
Great essay and cogent analysis!
I agree. Except monetizing debt doesn’t exactly shift the debt from local to federal levels. It is an esoteric tax, devaluing the currency and quietly robbing the wealth of everyone who holds that currency in the proportion to their wealth stored in that currency. Whether an American, Chinese, or Peruvian person or government owns the currency, monetization devalues it, and steals a part of the holder’s wealth.
Great summary of our problems!
I believe there are two primary causes to the current crisis:
1. The Free trade regime removing balancing tariff options-incentives and serving to destroy First World economies while leading to tremendous deficits, debt, and stimulus rescue expense.
2. Private central bank debt-money for which the cumulative, compound, interest is burying us – leading to complete fascist bankster control of “our” countries and economies.
Until we escape from these twin, undemocratic and rapacious, beasts we will see the worst before the better.
Kent Welton,
PublicCentralBank.com
Hello,
I’ve been reading the articles on your site for a while now and found them to be tremendously insightful. Please keep up the great work!
You said something in the latest article:
“If you know how to read the waters, then you know when its time to stop the beach party and run for cover.”
I have an Internet business where 50-100% of my money is held by Google at any given time. In order for me totally prepare for hyperinflation I would need to stop my business completely to start buying silver/gold/food, etc.
I know it’s hard for anyone to nail down exactly when the dollar will collapse, but how exactly should I read the waters to know when to stop everything and ‘run for cover’?
I need 6-8 weeks advance notice. What would you do in my position?
Thanks so much!
Jake
The United $tates of Perpetual War Profiteering… $erving the needs of bankster gambler addicts on Wall $treet, and also the Pentagon penis brains in the military industrial complex, is not a model for $ustained prosperity on Main-$treet.
Thus… Amerika’s consumer citizens shall soon reap what they have $own. It is karmic law that cannot be denied. Indeed! And the law states rather clearly that WHERE THERE IS NO INSIGHT, THE PEOPLE PERISH!
To post #4 J…in terms of dollars it is deflationary,in gold to DOW…nope
http://www.zerohedge.com/article/mr-denninger-and-gold-or-why-dollar-deflationists-are-wrong
for J from post #4…this may help a little,Gio any input on this?
Hey Jake,
I’ll just take a crack at your question with this simple response: There’s really no way to know for sure. Rather than trying to determine when to sell off the business, I’d keep it running, make sure I had plenty of food stored and a plan for clean water. Beyond that, I’d put my resources that I could into commodities (ie, gold and silver) and wait. If things get as bad as they appear they might, literal survival may become a real issue for some time and one that makes your monetary losses less significant.
I picked this story from infowars.com. I this is one of the best articles in regards to the economy I’ve read. Keep up the good work.
Jake,
Its hard to say. I wish I could predict that accurately but I can’t. My only suggestion is that you diversify into hedging investments as much as possible over the next couple months. PM’s are good. Gold has skyrocketed and will probably do so for a while. Silver is on the brink of a rally, I believe, so keep your eye on that. Also certain foreign currencies such a Australia’s could be a good investment.
You will probably still lose money like everyone else, but if you are able to retain a large percentage of your net worth during a collapse, then you have come out far ahead of most people.
Also, don’t forget your survival stock of food and gear. That will be worth more than any amount of gold or silver if the situation becomes as volatile as we suspect…
Here is another contributor to our country’s economic collapse – This is an incredible 10 minute video that you all must watch!
http://www.youtube.com/watch?v=kHxb_vZe7Ao
maybee gold backed bonds. That ensure normal percentage growth plus any inflation that may occure in the long term because they are based on the gold that backs them. then we could go to a tax free barter society.
J,
I have read the report on M3 deflation and I am withholding judgment until I see more information. The Fed stopped reporting M3 back in 2006. Some analysts including Shadowstats.com make the attempt to follow it, but honestly, the only people who can tell us what is really going on with M3 are the members of the Fed. No one else can say with certainty what M3 is really doing. They can only guess. Until there is a full audit of the Fed, we may never know.
Also keep in mind, expanded physical money supply is only ONE of the causes of inflation. Any event that devalues the dollar can cause inflation, including a Chinese treasury dump. Devaluation of the dollar and inflation in prices can occur without substantial increase in physical supply.
The United States is the only county in the world which, when faced with complete financial meltdown, can hit the ‘off’ switch – and coin its own money.
This ‘breakaway’ from financial dictatorship is the very principle on which American freedom and sovereignty is based.
The Glass-Steagall amendment, which was throw out of the D0dd Financial ‘Reform’ bill, is a grave threat to the Imperial Monetarist – and their headquarters, the British Empire’s Inter-Alpha Group of Banks have said that if the U.S. restores Glass-Steagall, it would be viewed as an act of ‘hostility’ against British imperial interests.
The way out of this crisis (new dark age) is the restoration of the Glass-Steagall Act and the crushing of the current British Monetary System.
Thanks…
To my mind, expanded money supply is inflation. Devaluation of the dollar is an increase in the money supply.
But the last few years house prices have been falling and people are paying down debts at a faster pace. Debt is also being written off. Bankruptcy is causing debt to disappear. Defaults are a result of not enough money being there to pay off debt. If defaults are at record levels then it follows that the money supply to those debtors was insufficient – one possible conclusion to make from that is that the overall money supply is declining too rapidly for them to compensate for the changing conditions. Another possible conclusion is that the flow of money is away from those debtors, which implies the money is flowing to somewhere else rather than decreasing in supply, and that may mean bubbles being blown elsewhere.
True debt reduction can only come from transfer of cash to pay of debt. Borrowing to pay of debt leads to the same amount of debt.
On the other hand, gold has increased in value in the last 10 years. If gold is considered a store of value, inasmuch as gold buys today what it would have bought 100 years ago, then using that as a measure, inflation of the money supply is already reflected in the gold price. But if gold is a speculative investment, much as real estate was a few years ago, then it too might suffer the same fate as real estate in terms of price.
If I had bought gold 10 years ago I would have considered it a good investment – benefit of hindsight, of course. But is gold money? Or silver? If I could go to the local shop and offer a silver coin in exchange for goods I would call silver money, likewise for gold. But in reality I would get a stupified look if I tried. Unfortunately fiat money is money and is accepted at the local shop, unlike gold and silver. Which is not to say I happen to like that fact.
J, good post,I like your first statement which pretty much sums it up for me too on all levels {the higher unseen …down to street levels}..”expanded money supply is inflation”. I also find this to be true in the sense of a full blown economic collapse:”
You Cannot Eat Gold, But You Can’t Eat Dollars Either
That has to be one of the lamest arguments against Gold – ever. It is the sign of a closed mind. It shows that you don’t know ANYTHING about human history, which is not surprising considering the sorry state of our government controlled “education system”. You cannot eat FRN’s either – why not just burn them? The function of money is not to be eaten but to be used as a medium of exchange and store of wealth i.e. to get what you want to eat at an indefinite time in the future. And while with Gold you are assured of getting at least something in return in the future, whether it is an edible product or not, it is not so with dollars. Fiat money has a problem in that it lasts only as long as the government enforcing its use does. In times of economic uncertainty, such as today, when the very survival of various governments is at stake (yes, that includes the US Government) do you want to hold Gold or their worthless colored paper tickets? Gold is the only money that has outlasted empires and governments – no fiat currency has. Think about it – what will your dollars be worth when there is no government to enforce it as legal tender? Yup – zip, zilch, ZERO. And to those who say that we will not need Gold (but something else like food or guns) in such extreme circumstances, I say that empires and governments have constantly collapsed throughout history but it did not mean the end of the world. As long as you believe that human society will exist and there will be division of labor, you need money (i.e. Gold) – because:
a) You cannot store indefinitely all your needs especially perishable items such as food.
b) You do not know with 100% certainty what you will need in the future.
c) You cannot produce/manufacture everything that you will need today or in the future by yourself.” {taken from zerohedge}….makes sense to me anyway,as does a lot of info here .on this site
The problem with gold is that I reckon most of it is held by governments in vaults.
If a financial collapse happens and people turn to gold, then you can bet that the people largely responsible for the collapse – the governments and the bankers will have pilfered all the gold and thus be the rich barons in a brave new world.
I hate the very thought of that. They will have the gold to pay the armies and enforce their will regardless.
If some terrible financial collapse is coming and it is going to lead to chaos I would much rather own a farm on an isolated island and grow my own food than be in a city where you can hear some well-meaning cop cry out one day “Soylent Green is people!”
good post, a lot of folks are seeing the writing on the wall. Peter Grandich talks about the Greek social unrest also:
http://miningstocktalk.com/mining-stock-talk-interviews-peter-grandich/
J,I hear you…gold not in your possession also has the potential to be manipulated.
stock in canned tuna looks more appealing everyday.Bug out bags and dried foods may be the new currency and ammo the backer of it.
I agree that this is a good summary article about the true state of the economy at all levels, and I like the links too. So, many thanks to the author.
It seems like a few readers are confused about gold. I think the reason to own gold and silver is to preserve your buying power (wealth) despite whatever financial/economic events may unfold. I highly doubt I will use my gold/silver during a crisis. I just don’t think that will be practical. The vast majority of people won’t have any. Besides, the dollar may not collapse completely, so dollars will probably still be used. But even if the dollar does collapse I think some forms of barter will be what replaces money.
It’s is after the dust settles that gold and silver will be most useful. They should allow you to re-establish your monetary wealth in whatever new currency develops.
Face it guys! The new world order antichrist beast system is going full steam ahead in their onslaught on the global middle class and will eventually plunge the whole world’s economy down the drain of financial ruination. That was their goal all the time to bring about their One New World Economy; that will be a great part of their One World Fascist/Luciferian Global government.
Even if they do give it another fancy name like, One New Earth, or A New Economic Order; or, The New Sovereign World States and so forth.
These Luciferian International Bankers/Bildergbergers/Illuminati/Freemasonron devils will enslave the whole world and try to make all of us take their coming zombie making and soul destroying, mark of the beast chip in our forehead or hand. And those who don’t take it won’t be able to buy or to sell according to Revelation’s 13th and 14th chapters of the Holy Bible.
And eventually; those who don’t take it will be sought out and martyred as enemies of the new world union. Why? Because these devils want total control. As you will be their slave zombie puppets!! And they will own everything that you have. And that includeds your family and children. For that beast chip will make you worship their antichrist beast leader.
And if you take that mark (chip); you will forever be cursed by God in the lake of fire and brimstone according to Revelation 14:9-11!!
We know not the futire for sure, but we know history.
Everytime this has happened to past Countries,fiat currencies have become worth ZERO.
Not ONE country throughout history, has survived using paper money.
Gold & Silver is money,period……..check the Const/Amendments.
Money was defined, and by s
pecific weights and measues,it’s not paper.
#1 thing I would do, get whichever you can afford, or both.( Gold is likely to go the $5k-7K per ounce,Slvr at least $70.00-$100.00 per ounce)………likely much more( have a very good hiding place for it, as confiscation is a high probability if it get’s to these prices.
At least 10%-15% of your total net worth in Gold & Silver bullion( this is insurance).
Make sure you have food, water, medications(prescriptions), everything you need to get by for a minimum of 6 months.
Get your food NOW, non perishables.Canned goods, pasta, etc,etc….
Beef and Chicken is going up 25 % by summer……………..
You need enough money (what form you choose, I absolutely do not suggest the dollar), Swiss Francs,would be my #1 choice.
AUD is tied too closely to China (China has it’s own problems), it’s facing a meltdown also.
The Dollar( a new one), will have to be issued, and it will be devalued, 3-1,10-1, 100-1…….WHO Knows?.
We know it’s lost 97% of it’s value since 1913.
Pay your bills( neccessary ones, in advance) ,so you will be not run out of -locked out of your home.
If possible, get away from major cities………
Laws have been in place for several years, to SEIZE hoarded supplies of food, medicine, etc……………..
Plus,you may be forced to relocate, and there are laws in place for that also.
Lastly, Frearms, ammuntuion, and the ability to use them, is paramount.
Remember to let close friends, and family members know they need to do the same………….
Otherwise your going to have tough choices when they show up at your door.
Survival is dirty business.
After that,
P*** Poor Planning On Your Part, does not constitute an emergency on MY Part.
Your loved ones come first…………
J,
I have found that a lot of people assume that inflation is a wheel barrel full of money in Wiemar to buy a loaf of bread. The truth is though, overprinting is only A CAUSE of inflation, it is not THE CAUSE. True inflation is any event that triggers a devaluation in a currency, and inflation in PRICES. Thats what everyone should be most worried about, M3 is secondary, though it would be nice to finally audit the Fed and find out what M3 actually is. No one knows exactly how much physical is being held by foreign central banks. Keep in mind that if a Treasury dump occurs, all that physical will come flooding back into our local economy at once.
Gio,I think I understand your take better on inflation now from that response to J.I think the bottom line for most people{myself included} is that when street prices really reflect what has happened,the game is up…thanks again for discussing a good topic !
Its all jaborwocky…what about truth and justice. You den of thieves. What does it profit a man to gain everthing the world has to offer and yet lose one’s soul in the process? You rob the widow and the orphan with your deceitful web of lies. God laughs at your foolhardiness…for He will give you and your children over to the unbelievers because you have become like senceless beast.Repent and be healed!
Giordano,
I read your article with great concern. May I ask you what you suggest to do? I have all my life savings in USD and a child to care for living in New York City and I am on my own. I am at a loss over where to invest my savings? Gold is at an all time high and you can not really recommend buying at this price and investing all savings in Gold??
What about Swiss franks? Do you believe in diversifying liquid accounts, some in Swiss franks, some in Australian dollars, 10% in Gold?
What about buying a piece of land somewhere rural in order to invest the cash? Or a small property paid up w/out mortgage to live in?
I don’t have much but it is all I have and I’m not trusting any financial advisors or planners. Last but not least, can you recommend ANY bank at all? Or better, which of the evils is the best to have an account with?
Hi Gio,
Yes, I understand. Your definition of inflation is an increase in the prices of goods and services, which you will find on wikipedia. But you will also find on wikipedia the Austrian School of Economic Theory which regards inflation as price increases as misleadling.
I hold with that classical definition of inflation which is an increase in the money supply or a debasement of the currency.
And thus inflation causes increases in the prices of goods and services as the additional money spreads out into the economy.
QE has already had an incredible effect which not many people pay that much attention to, even though it stares them in the face – it is largely a matter of the way of thinking about it.
A lot of banks a couple of years ago were utterly worthless. If anyone wants to know where prices have risen after QE they need only look at the banks and businesses that benefitted from bailouts. They were almost worthless until the government inflated the money supply and directed the money at those businesses.
Inflation, that is, inflation of the money supply has already occurred over the last decade, and includes QE over the last couple of years, and is already reflected in the increase in prices of goods and services, specifically those formerly insolvent businesses whose prices should have become or approximated Zero, that now have their value propped up by the inflation in the money supply.
The issue of countries dumping their reserves is an important one. Note that a dumping of reserves increases the money supply. But another factor is that much of the world’s trade is denominated in dollars and it is not that easy to switch to other options. Oil is traditionally traded in dollars, and since oil is necessary for economies all over the world, all governments hold dollar reserves for the purchase of oil.
As far as I am aware, most of the world’s debt is denominated in dollars. In this sense the dollar is both the strongest and the weakest currency. Strongest in the sense that it is the most widely accepted medium of exchange, and weakest in the sense that if that should ever change rapidly the results would be catastrophic.
see ‘cities consider bankruptcy,’
e.g. detroit, miami, harrisburg. . . 5
/ 10
J,
I actually covered the whole “debt denominated in dollars” argument in my last economic article. To be frank, its globalist propaganda and nothing more. The IMF is already circulating the alternative to the dollar backed by a stronger Yuan, and likely gold, which is the SDR. Also, I’m not sure where people get the idea that because a debt is denominated in Dollars, that that means a country holding that debt will have to take dollars as payment. Its an extremely strange assumption that has no basis in reality. Any foreign nation demanding payment on our debts could easily ask for gold, SDR’s, or another more stable currency as payment, and refuse payment in dollars. In fact, they are very liable to do this in the event that the dollar is quickly losing value.
I agree that inflation of physical supply is occurring. But my point is that devaluation is the main concern. Physical printing is secondary. Still important, but secondary. A major devaluation of the dollar can occur WITHOUT overt physical printing. Its just a fact of our current monetary position. What this means is, we’re damned if we do, damned if we don’t.
We don’t print, our treasury debts remain unpaid, we default, and the dollar value collapses, causing inflation in prices. We do print, we get stuck printing until we are awash in physical, causing inflation in prices.
This is why I take any reports of deflation with a grain of salt.
Well, inflation of the money supply is devaluation of the monetary unit. More money spread out between effectively the same number of people results in each individual’s portion being worth less. Similarly, people preferring other currency to your favoured monetary unit will increase the supply of your favoured monetary unit and thus devalue it, whilst the other currency increases in value.
I am not talking about physical printing specifically because the actual amount of cash dollars falls with real paying off of debt. I am talking about inflation of the money supply per se in whatever form it takes, which is predominantly debt. A lot of what people expect in the future has already occurred. Inflation has been a decade long event culminating in QE. Much of the price increases are already reflected in goods and services. But with sovereign debt there is more to come, and the buck stops there.
Any foreign nation can demand what it likes as payment for X, Y or Z. But if as you say there is no agreement on what the debt should be paid with then there is also no demand that cannot fall on deaf ears. And Uncle Sam, despite his big ears, can wear earplugs as long as he likes in that regard. The only country I heard that has some kind of agreement on gold with the USA is Saudi Arabia. Maybe others have that, maybe they don’t.
The IMF and SDRs I just don’t think will get off the ground. The USA is not going to be the turkey that votes for christmas. And it has veto over that organisation.
But I agree that the whole system is in trouble. Governments and Banks are responsible. That leads to horrible future scenarios such as martial law and riots everywhere.
The lesson for the future is the money supply must be stable because only with a stable money supply can there be stable prices.
Increase the money supply and the result are bubbles and de-valuation. Decrease the money supply and there are defaults and re-valuation. Keep the money supply on an even keel and prices remain stable. Boring but better than what the Romans did with grains of salt.
J,
You don’t think the SDR will get off the ground? Based on what? Most countries that work with the IMF now have quotas of SDR’s in reserves, including the United States. The U.S. does not control the decisions of the IMF, despite what the mainstream media would have us believe, but that really doesn’t matter, because the elites in our own government would like nothing better than to bring down the dollar and make us reliant on the IMF.
The head of the IMF called for global oversight of finance and for the SDR to become the new Global Currency two weeks ago. This is the whole purpose of the engineered collapse in my view and in the view of many others. Destroy the reserve status of the Dollar and the Euro and replace it with a Globalist hybrid currency under the centralized control of the IMF, thus allowing for the furtherance of global government by the financial elite.
Also, inflation of the money supply is NOT “devaluation of the monetary unit”, it is one of many events that can CAUSE devaluation though. One is not necessarily a prerequisite to the other.
Daniela,
Doing what all the people suggest is the answer. Gold to preserve wealth, silver for purchases if it comes to that, both in YOUR possession. I think a higher percentage of them than 10% (possible 40-60%).
I don’t know how foriegn currencies will help you if the financial system collapses. You could invest in them till the $$ is devalued, but will you be able to get ‘out’ if banking shuts down? And trying to guess when that is, is like trying to pinpoint the tops or bottoms of the Dow! Some of the very wealthy are using high grade diamonds, as they are more easily transportable.
Property (but don’t forget the draconian taxes that are coming-owning a home could make you a sitting duck), only keeping enough in the bank to pay bills (a good rated Credit Union):
http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx
And the usual food, water and meds to hold you over if there is a collapse/natural disaster/ enemy attack/martial law. You can go so far as to have solar backup, heirloom food seeds, guns and ammo. Have an escape plan, ways to contact family, plan with neighbors for co-op. etc.
So if you have say 70-80k USD you say buy Gold? How? Store where? In bonds? In coins? I’m sorry for my ignorance here but please advise? when is this all going down and are you sure?
and what kind of gold am I supposed to buy and from who/where? What if this crash does not happen (yet) and the value of gold goes down? Is it not possible?
many thanks for the help!!
It is inevitable that the euro will seize to exist. It’s just a matter of time…
Daniela,
There are gold dealers in every city. Just take a look in your phone book for coin shops that also trade in PM’s. You want 1 oz. .999% pure gold coins. Try to stay away from gold bars unless you’re looking to purchase millions of dollars worth. Bars are much more difficult to trade than coins, especially if the government attempts to confiscate gold like they did during the Great Depression.
Also, stay away from bonds and other paper securities. During a crash, those would become worthless. Only get physical.
Anyone who bought gold ten years ago has now tripled their money, so I would say gold is a pretty good investment regardless of a collapse. Paper currencies ALWAYS devalue. Always. Gold and Silver are the best protection of wealth in a fiat based economy.
As far as the collapse goes, I believe all the signs show that the final stages will be triggered this year. Will gold go down a little in the short term? Maybe. But the long term trend is definitely good for metals. I’m not saying put all your eggs in one basket, but having a portion of your savings in gold is a very good idea. Any investment has a little bit of risk attached. I would say though that the odds on gold are much higher than the odds on the dollar.
Time to get out of “Poland” (USSA) before the invading armies goose step their way into your living room!!! Me? I am looking at central America. God help those left behind.
Michael Ruppert just posted this article on his “Collapse” facebook page. He beat me to it. :-) Cheers Gio…
-Gantoris
Daniela,
As a specific recommendation, I would encourage you to buy some 1 ounce US gold eagles and some 1 ounce US silver eagles. The cheapest place to get them would be a local pawn shop, or APMEX.com (american precious metals exchange). Don’t bother with rare coins or other complicated crap. Just stick with simple US eagles, and store them either in a bank safe deposit box or in your home. 10-25% of your monetary savings would be a great place to start. For example, if you have 100K in the bank, put 10-25K in precious metals. There’s no need to go off the deep end…..precious metals are only an insurance policy, much like the insurance policy you have on your house or car. If (and this is a big IF) the monetary system blows, you will have your insurance to cover you.
“The only thing to fear is fear itself”…..let us all think clearly now. The time is ripe for clear thinking and sensible action.
Light.
thanks Giordano! Will look for the gold coins! What about swiss franks, aren’t they backed by gold? is diversifying at least partially not a good idea and if so, how? In cash as you said no bonds?
Daniela,
The Q&A section at http://www.inflation.us has some good basics on buying gold and silver (how much, etc.). Food and other supplies, plus a safe retreat, should also be on the list. Good luck!
Daniella, a few key aspects of PM’s for currency exchange are: Liquidity, Portability and recognizability… Low denomination, pre 1965 minted silver coins should ( and smack my hand if I’m wrong here guys) meet your exchange (purchasing) needs; have it delivered to you so YOU can control it. Any amount of Gold you can get is good to have and then get yourself and your child the h*ll out of NYC. Be safe…
I will study all of this. I don’t feel safe here in new york anymore and I’m looking for options and a way out. I will keep my eye on this site and will keep reading your messages to inform myself.
Thank you all. I really do appreciate the help a lot.
Daniella,
I know the 20 Franc Swiss coins have something like .18% gold. Someone correct me if I’m wrong. Any currency with gold in it is a far better investment than the dollar. PM bonds are a no-no. Banks like JP Morgan Chase use silver and gold bonds to manipulate the market into thinking there is way more physical metal out there than there really is. That artificially drives the price of PM’s down on the stock market.
Investors are starting to figure this out and are beginning to demand delivery of physical gold. Soon, banks will reach a point where they will not have any physical left to deliver on all their fake bonds, and that’s when the price on gold will skyrocket. You don’t want to be left holding a bunch of worthless paper bonds when that happens.
so an account at Credit Suisse and exchanging dollar for swiss franc won’t do it then. I’m sorry I am so un-savvy about all of this. I’ve had a savings account. I started reading all of this over the past year or so but I’m very new to this financial language. What do you mean by “deliver to you” Mike, buy online? Liquidity, Portability and recognizability… what the coins? I checked online and see 1 gold coin for 1300 $. Store under my bed? I’m a bit at a loss here…
I don’t trust my bank! Citibank seems evil. Is there no better bank, one a bit more trust-worthy? What about Deutsche Bank? Or is this all useless? I do understand what is at stake here but what is a woman to do? Pack up and move to the woods and start gardening? Sorry if these questions seem foolish I’m not prepared for war :(
thank you Caral I will look at the inflation.us link!
Daniela,
Yes, you can have gold delivered to your home through an online company or a regular broker. I find its easiest to just go to one of the larger coin dealers in your area. Just as long as you have the physical gold coins in your hands or someplace where you can easily get to them. I would never store them in a bank. If a bank holiday is declared their doors close and you might never get your gold back.
I hate to say it, but you would have to either buy a heavy duty safe to store it, or have it hidden where no one would ever find it. Also, I would buy some silver as well as gold. Gold is good for storing a large amount of wealth in a tiny package, but in a collapse scenario, or post collapse, it would be so valuable that you could only use it to make large purchases, such as property purchases. Silver would be better for daily trade on normal goods. I always keep a moderate amount of silver around.
Daniela,
My gold broker suggested hiding gold in a sealed PVC pipe with the end caps glued, then bury underground somewhere. I think unless your safe is sunk in the floor and cemented in (ie. hidden) , you could be vulnerable. A thief could take a small one or a home invader could see a bigger one and demand at gunpoint to open it. Someone suggested renting a storage unit, but then it’s not in your immediate possession. Unless you have millions, I think an old paint can or box of cereal is good enough. Most times a burgular is in a hurry and is not going to spend hours looking for something they don’t know is there.
Watch the new tax law that is hidden in the healthcare bill. US gov. is demanding that any acct in a foreign bank is to be closed, but not before that country sends 30% of it to the US gov. They ASSUME that you are hiding untaxed money.
They have us in a gluetrap! We are ALL trying to figure out how to escape with our hide intact! Whatever happens, we will NOT be given notice! And they have done everything to cover their a** , such as not letting people have a physical stock certificate of a company they own shares in. If a big collapse happens, I think your brokerage statement will be as good as those green pieces of paper. Just more paper assets.
Sometimes I feel like a nutcase, trying to protect myself (paying the tax and cashing out IRA $$ and buying gold). But I’d rather be safe than sorry. Plan for the worst, but PRAY for the best.
Did you EVER think we would be here???
Hi Gio,
Yes, I don’t currently believe the IMF will get the SDR off the ground because the USA has historically had a veto, and is the only country historically to have been able to vote down any measure proposed by the IMF.
But perhaps, a failure in the USA to veto such a policy, which would not be in its own interests, would be prima facie evidence of your global conspiracy viewpoint!
I disagree with you on money supply, but I guess that’s a philosophical point, but the same would be true of a gold backed currency as history shows, but I would much prefer a gold backed currency – at least paper would be backed by something tangible.
J. Passenger – if you are looking at central america you could try Panama. The interior there has farms available and land for sale. You could live, grow food and eat well there. But if you are an American citizen will you not still have the IRS on your back? Imagine getting a letter, saying – The debt of the USA has been called in and we regret to inform you that you are required to pay your share of the debt – which at the moment is…. http://www.usdebtclock.org/
Daniela, yes gold can go up or down in price. Gold is an investment. It may become a currency again as it was in the past. But at the moment treat it as a way to store value in a portable small volume coin. If you treat gold as money you will find that in your local grocery stores the attendants will give you funny looks if you try and buy your groceries with gold american eagles. Although someone savvy might offer to accept it at face value, which is $50. The actual federal reserve note value is a lot higher and so keep your gold for the post fiat collapse.
http://www.financialpost.com/story.html?id=3086360
Gio…and folks{J too} check this out…what is your take on this guys?
I am a little confused here.Help me out,I thought the SDR was a basket of currencies pegged to others and not a particular,singular valued denomination? If that is true then how would the “change over” rate happen? Also check that link above as far as a “new world” reserve, in light of the topic on the SDR’s,I thought it may be of concern or noteworthy,
heard it before and hoist the BS flag same person…sorry,hit the wrong moniker!
J,
Well, the U.S. is already a major holder of SDR reserves, so it would appear that elements of our own government are far from “vetoing” the prospect. Also, my “global conspiracy viewpoint” is not a viewpoint at all. The push for global currency and global government is well supported by the words and documents of the IMF itself along with numerous world leaders. Any attempt to understand what is really going on with the economy would utterly fail if one did not take into account the objective behind most economic actions by international and central banks, which is centralization of monetary and political control.
Hi Gio,
Well, I go back to what I said before. Historically the USA has been the only country to veto the IMF, so in that sense the USA controls the IMF. When it comes to global organisations the USA seems to be the country that invests the most in them, and seems also to be the country with the most power in them. So nothing strange about the USA being the big holder of SDRs.
Of course, that does not mean that the US government is not in favour of centralization of power, but American hegemony. No? The US Government might see the death of the dollar in the future and might change policy and go for some sort of US government led change to the global financial system. But make no mistake it won’t happen without the US government agreeing with it. The US military is larger than the rest of the world combined.
At the moment I just don’t really see SDRs or WOCUs really taking over from the US dollar. But it might happen. I don’t have a crystal ball to see into the future with. And if I did have that crystal ball I am not sure I would want to see the future. Who would really want to be like the guy in the film The Dead Zone?
J,
Well, you’re certainly welcome to your opinion. I would never deny anyone that. But my position is not based on opinion, but facts, and the facts show overwhelmingly that the IMF is pushing for the SDR to become the global currency, that the dollar is on the way out, and this is likely to happen much sooner than most people expect.
Again, without understanding the history of central banks, how they truly work, and without reading their own documentation, you’re really going to be behind the curve, J. I recommend perusing the pages of this site as well as reading a few solid investigative books such as G. Edward Griffin’s ‘Creature From Jekyll Island’.
Otherwise, we’ll just have to agree to disagree. I can only explain the situation as far as someone is willing to learn. Come back and talk with me after you’ve committed to some serious research and I would be happy to discuss these subjects further.
http://www.financialpost.com/story.html?id=3086360
please…someone address this,is it a concern? …In line with the conversation above between Gio and J…I don’t understand this currency{WOCU} vs. the SDR.
I also have to side with most people here in the understanding that if…scratch that,when the global /economic melt down does happen,{felt as a whole on the “street level”}it is VERY plausible that a new reserve currency based on a “world” denominational set value will be put in place.It is not far fetched,nor is it inconceivable.The actual goal of Central bank practices through its adjustments of rates and endless debt based practices{fractional loans…for one},show that it is much more of a destabilizing force and not in place for the common good.It is almost obvious now…the FED for instance is scrambling in fear on a non GAO{shammed and fixed} audit, a true one independent of it’s over-site.The BIS itself is trying to cover real fears of itself being exposed .
All the fear that the debt based fiat systems have created are spiraling out of control,in step I believe, with an awakening and anger of a populace starting to take notice.
How Hidden Pools of Government Money Could Help Save the Economy
For over a decade, accountant Walter Burien has been trying to rouse the public over what he contends is a massive conspiracy and cover-up, involving trillions of dollars squirreled away in funds maintained at every level of government. His numbers may be disputed, but these funds definitely exist, as evidenced by the Comprehensive Annual Financial Reports (CAFRs) required of every government agency. If they don’t represent a concerted government conspiracy, what are they for? And how can they be harnessed more efficiently to help allay the financial crises of state and local governments?
Hoist,
They look like identical concepts, except the WOCU seems to be a basket currency of the entire G20 group led by the BRIC nations, and the SDR is underpinned only by those nations with a prominent reserve status; U.S., Japan, Europe, and probably China soon.
Basically, they are the same thing under two different names.
The WOCU sounds like a post collapse version of the SDR, in a near future where the Dollar, the Euro, and the Yen have for the most part imploded, and the rest of the currency world has to take up the slack.
I would have to look further into the WOCU though. The Globalists love to “clone” a plan or tactic and call it something different, usually when plan A is taking too much heat in the public eye. Sort of like when Obama calls for a “New International Order”, instead of a “New World Order”.
There is one thing missing in this almost perfect article … Peak oil.
$200+ oil will make sure the bottom of the markets will be reached faster, but it will also solve a lot of the problems created by globalization.
Goods will have to produced closer to home, meaning money will stay in the local economy rather than going to Asia.
Check out this book. Great reading. http://www.jeffrubinssmallerworld.com/blog/
The illuminati are the nephilim(offspring of the fallen), as are the majority of your world/corporate leaders who spread their demonic network across the globe manipulating humanity at warp speed. They pave the way for the antichrist as i write. These are the end times for real as bible prophecy is being fulfilled right before our eyes.
BLOGGING FOR THE TRUTH MOVEMENT….
MYSPACE/ERIKTHERED9
http://blogs.myspace.com/index.cfm?fuseaction=blog.view&friendId=393931985&blogId=535210481&commentID=354277
Gio,thanks for the clarification…
I don’t see China dumping the US bond unless they’re grossly ignorant about how the markets work now. These aren’t the ancient days where one empire falls and another replaces it in the vacuum. The global markets are all glued together by trillion dollar derivatives. When one goes down, they all follow in a chain reaction.
Sean,
As much as I’d love to, I really can’t keep re-explaining to people what is already covered in the article above. China HAS been dumping U.S. bonds for the past 6 months. So has every other country in the world. The only purchases now are short term bonds in response to the Euro crisis. I also explained quite clearly that China WANTS the Yuan to appreciate in value, and they WANT the dollar to be replaced as world reserve currency. Dumping U.S. Treasuries only works in their favor. Please re-read the article.
Gio and all thank you for your kind replies and explanations. Couple more questions ;P
if anyone has the time to respond I’d appreciate it.
So if I buy gold coins, how easily can I sell them should I need the money? And where? Won’t I lose money by selling? And how do I protect myself from being ripped off? How to test the gold? A lot of shit being sold I imagine? Clearly, I’m not an expert so what do I go by? A gold stamp can surely not be it?
Excellent article Gio as always you research and back up what you say.
Daniela, Gold should be for LONG TERM and large purchases. As Gio said make sure it is .999. Look in your yellow pages or on the internet for a local dealer. If you can’t find one you should go online and purchase 1 oz coins or rounds. http://www.apmex.com/Category/502/Gold.aspx is a good site to buy from and have it delivered to your home or PO Box. Junk Silver would be a great purchase ie….pre ’65 silver coins would be a big part of what you buy.
Oh and I did forget. Buy lots of Heirloom Seeds. I believe in a post crash economy they would be as good as gold. Buy them, vacume seal them and put them up.
Daniela,
Most of the coin shops and brokers you buy gold from will also buy it back from you. I suspect over the next year a lot more businesses and banks will start delving into the gold trade as paper currencies start to implode. Eventually, I think gold will be treated as everyday currency again, like it was only 70 years ago.
You will only lose money if you sell your gold after it drops in the market. Go to bloomberg.com and check gold prices daily. Right now, gold is around $1225 an ounce. Most brokers charge a premium added onto the market price, so keep that in mind as well. Also, if gold rises, and you sell, then you have just made money, in a sense anyway. Gold is something you want to hold onto while currencies are volatile, which they will be for a long time. You could easily double your savings with a smart gold investment and good timing.
To keep from getting ripped off, buy coins, stay away from bars. Tungsten rip off bars are being found more frequently. There is some kind of test which involves passing an electric current through a piece of gold and measuring its conductivity. A fake bar has a different conductivity than a real bar. There may be other tests, but that’s the only one I know besides melting the gold down.
If Britain stopped spending all those Pounds to set up spy cameras and a police state, they might be in better financial shape.
Thank you both!
que sera sera, whatever will be will be, the future is not ours to see que sera sera, what will be will be ……..did you like my singing!
Gio,
This has to be one of best articles I’ve read in some time. I appreciate your ample supply of facts. China’s actions alone should be evidence that the USD is on the way out as the world reserve currency.
The only point left to argue is whether we’re in for a slow burn or an all-consuming prairie fire – and I think you’ve made the case for the latter. Many will be motivated to step their preparations into high gear. You’ve no doubt helped people here today – many thanks.
I look forward to your weekly essays. They are always beautifully written and well documented.
Thanks for bringing clarity to a dire situation.
Daniela, I think it would be a good idea for you to Google search the following free sites:
#1 Linda Brady Tranyham’s essays published by Whisky and Gunpowder…. Linda is a prepper!
GATA….. for information about blatant manipulation of the precious metals markets
Jason Hommel of Silver Stock Report… how and why to buy silver instead of gold.
Ted Butler’s… archives over decades are a must read if you even think about buying PMs.
Hope this helps
Alex
What a great resource!
Great article
well, empires rise and fall, according to natures limits. Asia seems to be able to cope better with high oil prices, and we just won’t co-operate together enough to sharpen up.
Forget electric cars, nuclear, the future of any western industrial adventure is the industrial hemp plant for manufacturing, food and fuel. I’ve frantically searched for the most cost-effective, sustainable source of energy that could be implemented rapidly across localities, nations and regions, it was obvious – The Hemp plant.
We have clearly crossed a threshold where action has to be taken now before the next big slap from nature or the markets. We have to take the hit, we have been strategically left wanting due to poor capital allocation and populist government policies. Do what you must, have a revolution, print money, bury your head in the sand, but whatever you do, remember that hemp will look after you always.
All the best
Jimmy
Hi Aussie A,
thanks I will research. I am so confused over all of this. I was close to buying some gold coins from this site called http://www.gainesvillecoins.com the other day but my friend talked me out of it. She said I’d lose tons of money if I tried to sell the Gold should I need the money. Its so expensive. What is this is the highest point? Its all very speculative IMO. The research here presented (and similar on other sites) makes perfect sense and it does seem like its all going to come dashing down on us soon, but then again, this has been the case for decades! Life goes on…
I cannot imagine that suddenly we will see here in the US the same thing happening like folks did in Argentina! I’m from Germany. I talked this over with my mother the other day and she thinks I’ve lose my mind! She said that banks always guarantee (insure) the money you put in CDs, etc. speaking of Deutsche Bank, for example. Your money is insured there. They cannot just withhold the money or not give you access to your bank account. Then again, the hard facts presented by Gio here point into another direction. We owe so much to China. But why would China drop the USD if they want their money back form us?
I do feel as though times are very insecure now but I refuse to live in fear or with a gun under my bed and where to store Gold? Spend hundreds or thousands on a safe installation? Then folks say silver, then Gold, then coins, then gold bonds. Who knows who to trust? I don’t even know who has what kind of background and experience / knowledge…
Alex,
I’m also not a professional. Not someone who can (or wants to) spend every day of my life online checking for Gold rates up and down. Its way too stressful for me. I’m not a professional investor who’ll play the game right – if anything, I’ll lose all.
I’m thinking of buying a piece of land or a small property somewhere far away so that the bulk of my savings is invested somewhere. Of course, that’s not easy either when you live in new york and work a full-time job w/ little time and vacation days, etc. you know the story… I feel a bit paralyzed right now and not sure what to do :(
Oh my God, how shocking…
anybody? What do you make of this guy?
http://www.realityzone.com/currentperiod.html
I see now this is the author of The Creature from Jejyll Island and remember Gio’s reference. This guys seems really smart. I love his PHILOSOPHICAL QUESTIONS section further down the page, quite inspiring.
and this youtube http://www.youtube.com/watch?v=eZA0qNsf4m0
OMG
Daniela,
When China dumps treasuries, that is essentially how they get their money back. They sell those bonds back to us or to any other country gullible enough to want them.
It gets a little more complicated than that, but I’m trying to break it down easily.
China has been dumping treasuries because they know the U.S. Dollar is a high risk investment. When the value of the dollar falls, Chinas T-Bonds fall in value. They want to get rid of their U.S. T-bonds before the dollar breaks down, so they can recoup their investment as much as possible.
Daniela,
Check out this link to understand why people bother with precious metals at all.
http://truthingold.blogspot.com/2010/06/purchasing-power-preservation-of.html
Giordano,
I understand (sort of -educating myself more and more here) makes sense how you explain it. I am looking into all of your hints and also the links from Alex. Thanks to all, this is really helpful!
Gio – what to make of this: http://news.coinupdate.com/us-mint-responds-on-numismatic-gold-coin-pricing-policy-0299/
and “Just like the COMEX, the policy is whatever they say it is subject to change at any time depending on what they want it to be at the time.” ?
and… should I buy from the Mint?
http://catalog.usmint.gov/webapp/wcs/stores/servlet/TopCategoriesDisplay?storeId=10001&catalogId=10001
That’s expensive one for collectors, look for cheaper ones without word PROOF in description.
Gio,
Anyway you know of to close out my IRA and convert it into physical gold without taking a hit at tax time.
Thank You.
Gio, I’ve been reading a lot today and searching for where to buy gold here in new york and what kind of coins, etc. and spent a lot of time on this site http://inflation.us.
I came across the following recommendation on there:
There are also ways of investing into gold out of the country such as goldmoney.com where they hold your gold in a vault in London and allow you to make electronic transactions using your gold as currency; as well as the Perth Mint in Australia where they will store gold for you there.
what do you think of goldmoney.com and do you recommend it?
I’d love to hear your opinion also on this recommendation as far as physical coins:
100-ounce and 10-ounce silver bars, 1-ounce American Silver Eagles, Canadian Maple Leafs, and Austrian Philharmonics; and 1-ounce coin gold Krugerrands, which, btw, is the *only* gold bullion of any form i would recommend, because they are the most recognized gold bullion in the world, and they come usually at the lowest premiums to the gold price.
As always, I MUCH appreciated your thoughts and feedback!
Daniela,
I know exactly how you are feeling. It truly can get overwhelming. We can no longer depend on the things and institutions we used to trust. You can’t depend on the old guarantees and insurace like we used to. AIG is only alive because of the government bailout. The FDIC (bank deposit insurance) is basically broke. I would love to speak to you if you are willing. Send me an email to jim10kco@yahoo.com and I will give you my phone number. Then we can talk about how and why to buy precious metals.
New to this site. GB’s essay is the best (short) analysis on the ongoing economic situation that I’ve seen so far on the net; good thread too. Essentially, I take “Full Spectrum Collapse” to mean collapse of both U.S. economy AND political system. It will occur via this sequence:
1. Spring-Summer 2012: US/Israel attack Iran (“Black Swan” event); Obama’s political party is heavily financed by the same interests who are ethnically invested in the Zionist state. If he expects to be re-elected, he will need their money – about a billion dollars, and he will not get it without doing what they want done. Essentially a repeat of 1947-48, vis-a-vis Truman and the US-UN vote on the partition of Palestine.
2. (1) results in quick turn-off of Persian Gulf oil, which is where Japan and China (mega holders of US T-bills and dollars)
get most of their oil.
3. China, Japan, others dump T-bills and dollars….
4. (3) results on global run on dollar. This will happen over a weekend, with most of the high-rollers – Soros and friends – getting clear beforehand. All of us still foolish enough to be holding dollars or dollar-denominated paper assets….will be wiped out by 10 AM Monday morning.
5 (4) results in vast rage in US middle class and outside-of-the-beltway politicians, as whole U.S. economy collapses. Numerous states secede (I am currently in touch with a lawyer who is advising state pols on Nullification, etc.) – expect Texas, Arizona, both Carolinas, Tennesee, Oklahoma, Alaska, Idaho, Wyoming, Montana (all bringing their National Guard units with them) to be in the first wave of secession, with others to follow.
6. (5) results in declaration of Martial Law by District-of-Corruption regime, plus attempt to confiscate gold/silver etc. and gun-grab, with enforcement via Blackwater-type mercenaries, ATF, Treasury Police, and probably regular Army/Navy/Air Force. Some of these units will, however, refuse such orders and others will mutiny and join the Anti-Globalist Resistence.
7. (6) will lead to Civil War II, a long Time of Troubles involving cross-cutting racial warfare, some class warfare and, via secessions, center vs, peripherary.
Recommendations: stockpile basics – non-perishable food, water, a rifle/handgun plus lots of ammunition (you will need the bullets both for close encounters with starving urbanites, and for barter) – plus silver, esp. U.S. 1 oz coins, as these will be most negotiable at, say, a Farmers’ Market; as GB indicates, gold will be literally too valuable for ordinary transactions, and downright dangerous to possess. In collective terms, join a militia unit or form defense alliances with your neighbors. You CANNOT run away from what is going to happen. You may be able to survive it.
Timesatikin,
Actually, you can rollover your traditional IRA into a Gold IRA. The problem is, to rollover any IRA you basically have to leave the job that started it for you and get a new one. Otherwise, they usually won’t do it. You can read more about it here:
http://www.usagold.com/ira.html
After rolling it over into a Gold IRA, it should be possible to then get physical delivery on your gold. But, I don’t know if they tax you or not when converting a Gold IRA. That’s something I should actually look into more.
As far as I know, banks and hedge funds are making rules to block anyone from cashing out on any securities all at once. The delays may vary. They are doing this because they know that there is a very good chance of a bank holiday being declared by the government, and they don’t want you to preempt it by pulling all your savings out of their coffers.
Anyone with an IRA or a 401K should really consider taking a loss and getting what money they can now, or trying to convert their dollar or stock based securities into gold or silver backed securities.
Daniela,
I don’t trust anyone to hold my PM’s for me. If I can’t see them, I don’t consider them real savings.
In my honest opinion, you could put some of your savings into that company, but I would hold a substantial portion in physical gold somewhere you can easily get to it.
If banks were to shut down, all your savings could be trapped overseas, or worse, confiscated.
Gio thank you again for your precious feedback. Much appreciated!
Kewl thank you for the link, I will study it.
Jim in CO I will get in touch via email.
Keep posting stuff like this i really like it
Daniela, as in real estate purchasing the key words are: location, location, location right? In a post-collapse economy, purchasing the essentials, as will be the case in the cities/subs (food & water), the key words will be: liquidity, liquidy & liquidity… will you be able to use it, immediately, without having to convert it? ie. bars to coins … For me it helped my prep plan to narrow it down to the most basic of needs and how to secure my ability to meet those needs, based upon my situation, without any assistance whatsoever. Water then food… if these are things you will need to buy then make sure you have the means by which to buy them so then the question is: What will people be using as a means of exchange when there are thousands of people trying to meet the same need for water and food with worthless pieces of paper issued by a fraudulant institution such as the FED. If you had a truck load of canned tuna would you take those dollars from people or would you rather hear the “ching” of an U.S. minted silver or, even, gold coin? I hope this helps… – mike
Daniela, an afterthought: sounds like, maybe, in your case your first need may be that of safety, I encourage you to continue exploring the idea of heading out of the city. Save your skin first then begin the work of securing your means of survival in your new digs. ie. small garden plot, stock some dry goods like beans & rice, procure some silver coins, make friends … :o)
Daniela -Get out of the big city. Transportation, food & water today is not that big of an issue. 20 pounds of rice and 5 pounds of beans will keep one adult alive for one month. Start with small steps, but start today.
Mike, you’re right. First I have to decide where to move to. Then get started. If I buy coins now I might not even be able to take them out of the country should I want to leave.
Does anyone know how much Gold + Silver you’re allowed to carry in your purse when boarding an international flight out of the USA?
My concern, among other things, is how we’re going to pay property taxes in a meltdown. I understand losing a home because of defaulting on a mortgage, but what about those who own their homes free-and-clear? Technically, given our 100% interest in our property, we have more to lose. How is local government going to collect taxes if the dollar tanks? People keep talking about moving to the country, but country people pay property taxes, too. How are you going to keep your home, even if it is paid off, what good is your garden, or the hand-pump over the well, or everything else you’ve done to protect yourself if you can have it all taken away by a $2,500 delinquent property tax bill???
Gio,
I am reading where some feel there will actually be a worsening deflation/depression to the point of 33% unimployment and thousands of banks closing their doors. This happening prior to any hyperinflation. (Robert Pretcher in a recent article “thedailycrux.com”). Do you feel that this will happen?
Gio,
In a recent article in thedailycrux.com Robert Pretcher (a financial annalysist) thinks a continuation of deflation/depression to the point of 33% unemployment and thousands of banks closing their doors must happen prior any hyper inflation. This due to the Fed manipulating what they can. They do not seem to mention much on world factors ie: China collecting what their due or dropping the dollar all together.
Any thoughts?
Gio,
I checked w/ USAGOLD and they do indeed have a gold IRA. Problem is you do not get to have physical possesion of it. You must first set up an account w/ a custodion company which takes your money from its present location(wherever you have it invseted) and they deal directly with the gold company on your behalf while maintaining your account and gold.
I do not for a second want my money in the market any longer(I closed my account) and am wondering if I should just take the hit and cash it, or do you know of any better option.
Thanks for your help
Jiggs – I am wondering about the same exact thing! Very curious to hear a response.
Ty,
The whole deflation vs. inflation argument often really depends on what a particular person means by “deflation” or “inflation”.
I believe there will be deflation in markets and jobs, and inflation in prices due to a devalued dollar. In Prechter’s case, from what I’ve read in the past, it seems he believes there will be deflation in everything including prices and gold. I see no practical basis for this theory. The Fed has already shown that it will monetize debt defaults for as long as they deem fit, so a stable dollar is out of the question. Also, if prices were going to deflate, we would would have seen that occur in a big way last year. It didn’t happen. In fact, prices have inflated by 18.7% (if you include food and energy) since April 2009:
http://www.breitbart.com/article.php?id=CNG.f4ca4a183df2102e9ad9338f1c9b7c75.171&show_article=1
Prechter was saying for months that gold would take a dive, and it has only continued to skyrocket. He also uses this mathematical sine wave mumbo-jumbo which he claims can “predict” market “patterns”. Frankly, there are no mathematical patterns in a market that is manipulated by outside influences (i.e. globalist bankers), so the whole concept seems a little silly to me.
I’m not saying there’s nothing good in Prechter’s work, I’m just saying some of his methods are questionable. For any analyst who believes the dollar will somehow survive this collapse, they are really going to have to lay out some serious concrete evidence to support their view, otherwise, I just can’t take them seriously.
Timesatikin,
It appears that the manipulated market rally of the past year has officially ended. I have seen no indication that stocks will produce a major rally again. Maybe small rallies, but nothing like we saw in 2009. If you want to cash in your IRA and take the hit, I think now would be the time, before we see serious degradation in the Dow. However, I can’t really advise you on whether or not you should cash in. If it was my IRA, I would cash in and buy PM’s, but your circumstances might be different from mine. What does your gut tell you? Go with that.
Jiggs,
Its hard to say. It depends on how property taxes are adjusted to fit diminishing land value, and how states will attempt to respond to delinquent payment. Taxes are falling in most states, which is why many municipalities are slowly going bankrupt. They no longer have that revenue to keep them afloat.
Also, if the situation becomes so bad that there is a meltdown of the dollar, it is likely that anyone with land will be able to keep it as long as they don’t allow anyone to take it from them. A dollar collapse would essentially destroy debt collection capability, and I doubt many people will peacefully hand over their land if a state government tried to institute collections. In fact, most municipal governments could go bust and disappear, making it impossible for them to organize local tax collections. Really, during a collapse of this type, the laws of bureaucracy take a back seat to the laws of conscience, or the laws of the jungle.
Man, I’m driving around, busily, buying things to help me get ready and I notice all the nice new cars people are driving and think to myself: chances are that most of these people are completely oblivious to how bad things really are and will be stuck with that new car payment and that re-po guys should be getting really busy soon. I’d imagine some people may just drop their car off at the bank.
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Need some help, please.
So I’m shopping for coins in nyc, found this vendor who’s been in business for over 50 yrs down on wall street. Seems a sold company http://www.mtbcoins.com
here’s the catch: if you walk in to purchase they charge a 1% service charge (minimum of $25.00) plus the 8% new york sales tax!! Plus get this you MUST present ID (some patriot act reason he told me).
So am I better off buying online then?? I was trying to avoid the credit card purchase so that no one can trace me but if they want my ID I might as well buy online right?
Daniela,
Yeah, whenever you buy from a shop you end up paying a service charge. If you would rather buy online, try Midas Resources:
http://www.midasresources.com/index.php
They have the best deals on gold bare-none. Also, don’t forget to grab some 1 oz silver coins while you’re at it…
Gio wow excellent thanks so much!! I bought my first coins today, some silver Eagles! Beautiful. I can see how this can become a habit!! Will check out the site, many thanks.
Now I have to find a good hiding place. Bank charges 75 bucks per year for the bunker but don’t trust the bank!
Congrat’s Dani and a solid choice! You are, now, an official “prepper”… now hi-tail it outta NYC! =-0
what do you guys think about the movie The Money Masters and Bill Still? he seems to think Gold is not the answer… just watching this super long video…
Hi Daniela, I’ve just finished reading the posts here and I know how you feel, I went through all the same questions back in 2007 after being woken up by Ron Paul when he began his presidential campaign. It’s confusing when you first start researching all the different opinions and facts, but as your mind absorbs it all you begin to develop a sense of the mechanics and become adept at spotting the bs from the substance. Check out Mike Maloney’s book on Investing in Gold and Silver if you haven’t already. Tons of info in that one. He has stuff on youtube as well.
Gentlemen;
It never harms to explore ALL the opportunities open to us in troubled times ahead.Recently I pilfered from Rapidshare a very enlightening and informative book-’Handbook of Islamic Banking’,ISBN 978 1 84542 083 3.It makes a lot of sense.And their money is backed by the huge puddle of oil.I am going to the Middle East to deposit there what is left of my 401(k).If the federal devils put me on a no-fly list for such a daring endeavor-I do not give a hoot in a rain barrel.I’ll build a raft (KON-TIKI III).
how much money, gold, silver can one take on a plane and out of the country?
Darren,
thank you – will check out Mike Maloney! Thing is, vaults aren’t recommended, ETFs aren’t recommended… what if you don’t have a huge backyard to hide your silver, how do you invest a larger amount of cash?
this is really interesting: http://www.survivalblog.com/2009/08/three_letters_re_acquiring_pre.html
Mike if you’re reading this:
you mentioned pre 1965 minted silver coins, is this a good one? http://www.apmex.com/Product/10945/90_Silver_1964_Kennedy_Half_Dollar_Rolls___BU.aspx
thank you thank you thank you :)
Daniela,
Different countries have different taxes on goods brought into their borders. They especially tax gold items. Swiss watches and high value goods are primary targets. If you want to avoid taxes, it really depends on how much you want to carry out of the country. You can carry a lot of wealth in a very small pile of gold, so its easy to hide in luggage. You would just have to be creative. Although, I have to say, this collapse is a global problem. There is really nowhere to run where you won’t be affected. I would stay close to family or friends who are also prepared, or I wouldn’t go much further than a sparsely populated area of Canada.
Also, take a shooting class, and buy a gun, even if you don’t like guns. Having preparations like gold and food means you might have to defend those preparations from being taken one day, no matter where in the world you live.
Hiding a large amount of wealth in gold is very easy, unless you have millions of dollars worth, which might take a little more ingenuity. You don’t even have to use your own yard or house. It could be a lockbox in a special place in the middle of your favorite national park if you want. You just have to be sure you can find it later, and that you tell NO ONE (not even family) where it is.
Daniela,
Silver Eagles are great, however, I prefer less fickle currency: bare blocks of metal. You can get them in 1, 5, 10 and 100oz bars. No collectors value. No arguing about what they are worth. they are just a block of metal. If you think about it, the worth of the dollar is 100% “collectors value”. We all know the paper dollars are worthless, yet, we keep using them and arguing about what they are worth. Why import *ANY* of that into your personal reserve currency. I promote blocks of metal. No value based on anything but the worth of the metal itself. Tarnished, corroded, scratched and dented, doesn’t matter: 1 oz of silver is 1 oz of silver.
Click my name some photos of a decent emergency financial reserve.
NetRanger,
holy shit! Looking at your pictures just gave me the ultimate wake-up call! Man you ARE prepared! That’s some stash you’ve got there. Admirable! Isn’t it dangerous posting this on the web?
How would you ever travel with this? Somebody on here I think said I’d be like a “sitting duck” if I bought property or land right now… but with a box like this, how do you shlep that around? I live in a small apartment in brooklyn, had a hard time even finding storage for my 20 silver eagles Lol
Gio – I don’t have millions ;) of course, but think about boarding a plane, for example, with even as little as 20k of gold in your purse? Where would you “hide” that? They scan everything including your body! Purses and suitcases go though the scanner…
thanks for the advise on taking a shooting class. As far from my mind as that had ever been before (more of a frisbee class type of person) I will investigate this for sure!
where do you get these bare blocks of metal (1, 5, 10 and 100oz bars) of silver?
don’t see them online.
ok got it sorry :P this right?
http://www.apmex.com/Category/518/Silver_Bars_Secondary_Market__New.aspx
Daniela,
Congratulations on your silver purchase! I can see that your head is spinning. I feel the same way, but in your case you have a child to protect as well as fending for yourself, so you have much to consider.
My first question is; Where is your family?
Here? Or in Germany? If you are able to return to Germany and have support there, I would consider it. The entire world will be effected, but the U.S. will likely be the epicenter of the turmoil. Germany seems to be the last remaining strength in the EU.
I’d consider returning, rather than live out in the country with a child to protect, here in the U.S.
In answer to your question about taking coins out of the U.S. …. you are allowed to take $10,000 when leaving the country. You can check the details by visiting the U.S. Customs website.
If you have a lot of coins, I suppose you could mail them to someone in Germany ahead of time. (insured, of course) I would NEVER put coins in a checked suitcase. The TSA personnel are known to be thieves, and you’d never be able to prove the theft or recover your lost items.
A fellow silver bug told me that he has walked through the x-ray machine many times with silver Eagles in his pocket, and they don’t trigger the machine because they are not dense enough. The metal is too soft. Haven’t tried that myself.
What I’m not sure about is whether they count a silver Eagle as being worth $1.00, which is what is designated on the coin, or if they go by its market value. It is legal tender with which to pay taxes, so you could argue that the $1.00 stamped value is what applies. For gold, I believe it is stamped with a value of $20.00
If you have a back yard, I like the suggestion of a length of PVC pipe.
And to BJ, who commented:
“Sometimes I feel like a nutcase, trying to protect myself (paying the tax and cashing out IRA $$ and buying gold). But I’d rather be safe than sorry. Plan for the worst, but PRAY for the best.
Did you EVER think we would be here???”
No. No. No! Never in a million years did I think this could happen….and so quickly, with blind Americans going willingly to the slaughter. I, too, feel insane and have cried myself to exhaustion more than once. But, somewhere down deep, I dare to believe that this could be humanity’s finest moment. More and more citizens, worldwide, are waking to the unfolding global tyranny, and our spirit, our will to be free, may, against all odds, rise in the final hour and wipe this den of vipers from the earth.
God willing. God willing.
Aren’t you guys a bit obsessed with silver? It used to be a monetary metal, until industry consumed large part of it. But nowadays it’s just commodity like platinum or palladium. After collapse gold will be used to support international trade – look no further than central banks of China and Russia – they hoard gold not silver. The way I see it, silver remains a commodity and maintains today’s purchasing power. While gold turns into monetary metal and absorbs all the wealth lost from dollars, eur etc, which will greatly enhance it’s purchasing power. I do hold like 60 ounces of silver myself, but it’s not much comparing to the amount of gold in my possession.
Gio,
I also wanted to comment on how impressed I am with your patience. What a wonderful, patient teacher you are, and a real blessing to us all.
Yes, Gio is amazing, I second that! And very patient! Thank you so much Gio!!
Ckpac,
yes I am from Germany. I don’t have much there now.. been here over 20 yrs but my mother lives there still. She is retired and on her own. I am worried about her. My daughter is about to go into high school and has was raised in the US so her primary language is English, which makes it difficult for her if we moved to Germany. It would be a huge change for her. It is, however, one of my considerations as well. Another one is Canada. I am currently looking into options for moving up to the Quebec area.
thank you for your kind feedback. Much appreciated!
Daniela, since no one plan covers everything, try to diversify your approaches. To protect against a typical quick burglery, a 1.5 cubic foot safe bolted into the floor and hidden from sight for your silver. To protect against a someone finding and stealing your safe, you can hide gold coins underneath molding around the doors or inside various containers under your bathroom sink, etc. The main thing is don’t tell anyone you have them and your risk is low.
thank you Darren. Very good points!!
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Gio what do you think about Gerald Celente? I just watch todays interview on Alex Jones. He makes a lot of sense to me. Was wondering what your opinion is of his predictions?