2010 June 23 « Socio-Economics History Blog

It’s Raining Oil in Louisiana!

When the first hurricane hits, all the deadly neurotoxic dispersant Corexit will be spread across the Gulf coast. You do not have to be a genius to see what is about to happen. The projection for this year is an above average hurricane season.

end

June 23, 2010 Posted by mosesman | Disaster | oil, Terrorism, US | Comments Off

Gary North: Retirement Armageddon for Americans!

There is no money in Social Security, Medicare, MedicAid… The Feds have spent all the money and given an IOU(bond) to Americans. These unfunded liabilities amount to more than US$100T (according to FedRes sources). As long as the receipts coming in is greater than payouts to retirees, the ponzi scheme can continue. However, this is no longer the case!
Where is the money going to come from? Massive amount of Quantitative Easing of course, printing/electronically creating money out of thin air! The USD is toast! DollarCollapse:

Here’s a wake-up call from Gary North of the Ludwig von Mises Institute on why our idea of retirement will turn out to be a cruel joke. A few quotes:

Social Security will go bankrupt…The average American is going to have a miserable retirement. There’s not much a recent retiree can do. They’ve walked into the trap and it has sprung on them. The greatest losers will be widows, who are almost completely unprepared for what will take place. For most children there will be no inheritance, and parents may become an economic liability on them years before they’re prepared.

First, North runs the numbers on America’s main social programs and shows that they’re doomed. Then he explains what this means for typical citizens — which of course is horrendous. Then he offers suggestion for avoiding this fate.

A lot of people on the sound money side of the spectrum already know much of this, at least in general. But for those who think everything is basically okay and expect a comfortable government-funded retirement, the next 90 minutes could be a life saver.

end

June 23, 2010 Posted by mosesman | Economics | Bailout, Bankruptcy, Collapse, Currency, Devaluation, GreatDepression, Meltdown, US | 1 Comment

Gold Ready for Parabolic Take Off?

It is obvious what is about to happen! Gold is the least risk invvestment in the world now! Don't let the gold cartel and MSM shills tell you otherwise!

The Aden sisters (http://www.adenforecast.com/) are correct. Gold is about to go hyperbolic! Gold is a calamity indicator. Although, I am happy gold price will go astronomically higher, it will indicate global economic collapse and possibly world war!

Gold Ready for Parabolic Take Off?
GOLDEN TIMES – Gold is amazing. It’s been very strong, hitting record highs last week. Its bullish price action means investors and governments know it’s time to be in safe assets. The result is, gold continues to benefit as the world’s #1 safe haven.

GOLD IS MONEY
We’re also seeing first hand gold’s role in the monetary system. Few people understand gold’s importance over other forms of wealth but if there was ever a doubt, it’s been erased by gold’s reaction to ongoing financial developments. Gold is money. Most governments regard gold as a monetary instrument, and it has been the international currency for thousands of years.

BIG PICTURE: Gold is best
Considering the big picture, there’s no doubt gold is the best investment. The mega trend changed when the new century began. A clear shift away from paper assets (like stocks) and into tangibles (like gold) took place and a new era began. It wasn’t obvious to the average investor because mega trends take lots of time for investor’s mentality to gradually change.

Even though gold’s current rise is already in its tenth bullish year, the trends are still solidly in gold’s favor. These mega trends say… stay the course… stay with gold and gold related investments. Mega bull markets also take time to run their course and this time will unlikely be an exception. Bull markets tend to end in euphoria, when everyone’s invested and they can’t get enough of it. Gold is far from this.

Comparing the current 10 year gold run to the 12 years leading up to the 2000 tech explosion in the stock market, and gold’s bull market in the 1970s, you can see that gold’s rise is still tame (see Chart above). A bubble is still well into the future.

DEMAND GROWING AROUND THE WORLD
Demand for gold and silver grew even more last month. Gold sales to Europe from the Perth Mint, for instance, soared as the Greek debt crisis triggered a flight to gold. The U.S. Mint also had a busy month, selling record amounts of gold and silver.

The Chinese and Indians were also buyers. China’s gold bar sales doubled, while India’s gold demand soared almost 700% in the first quarter. According to the World Gold Council, the outlook for gold remains strong for the rest of 2010, both from investment and jewelry demand.