How appropriate that as I return to my blog after the end of summer activities, the newly-restarted counter shows "1984." I'm running into increasing numbers of references to this landmark book. No doubt a re-reading will have greater impact than when I read it in high school! We are surely living in the manifestation of many of the ideas presented in that book, just in terms of the technology and understanding of the early 21st century.
Statism continues its vicious hold on the keys to human happiness and fulfillment. Statism -- the philosophy that the State is God, to be worshipped and obeyed with our lives and treasure -- is rooted in the dark side. Satan, the name given to the personification of this spiritual force, intends to maim, kill, destroy and cause suffering to those of us made in God's image.
Statism is the system of mammon. Mammon is about power, greed, lust, cruelty and oppression. Mammon is the system of the Ruling Class and its minions. Mammon is Satan. Man is an easy mark for Satan if he lacks discernment and knowledge. Even then, the elect may be deceived. Pride and self-righteousness can blind us to the deception.
The MindControlMedia feed most Americans a steady diet of unreachable aspirations, toxic foods and drugs, and non-stop CorpGov propaganda. To see clearly, with understanding, one has to be able to think clearly. Without clear concepts and sound principles, buttressed by on-going fact-finding, thinking and seeing is impossible. Too many Americans lack the conceptual tools and motivation to recognize the job being done to them continually by their controllers.
The lack of motivation to know, to understand, is the hardest for me to take. Some people freely acknowledge their ignorance and don't seem to be bothered by it. Others deny their ignorance and are proud in their pre-manufactured opinions. Still others are in active denial. As one of them told me when confronted with doubts about the ludicrous CorpGov 9-11 Conspiracy Theory, "I just can't believe Americans would do that. I don't want to believe it!" That was the end of that discussion, as well as any respect I had for her intellect.
I picked up Jim Marr's latest book, "The Trillion Dollar Conspiracy," last month. I previously read his "Rise of the Fourth Reich: The Secret Societies That Threaten to Take Over America" and "Alien Agenda: Investigating the Extraterrestrial Presence Among Us." Both are outstanding studies in their field, full of important history. The latest book tells "how the New World Order, man-made diseases and Zombie Banks are destroying America."
I'm really taken by Marr's theme that the America we grew up loving has become a walking zombie. We are the walking dead, the deluded in denial, who have yet to come to grips with our ongoing collapse into the Third World. We, like the Banks, are the walking dead, moving out of habit and momentum. We don't realize that the American Empire is just waiting for the Fat Lady to sing. "Dead Man Walking!"
The USDollar is in its death throes. I still predict it will be toast in time for the 100th anniversary of the illegal founding of the Federal Reserve Bank in 1914. Fiat money, pieces of paper with ink slapped on them and required to be used as "legal tender" (i.e., money), has never survived in the history of humankind. Never. At least without undergoing countless devaluations. This article from Seeking Alpha about the Six Reasons Why a Dollar Collapse is Imminent is absolute must reading.
I like to carry a Silver Eagle with me to show people what real money looks like. I let fellow Boomers hold 1 oz of pure silver denominated One US Dollar. I remind them that it takes almost 22 of today's fiat FedNotes ("dollars") to buy one of these. From there we can talk about nickel cokes and popcorn and 20 cent movie tickets. I used to marvel that my father would spend $20, sometimes $40 to buy a week's worth of groceries for his growing family of eight. At an official price of silver at $1 back then, we're talking about an equivalent of more than $420 today.
Yet, I hear every reason in the world why my friends continue to trust their savings and retirements to the standard fare of stocks, bonds and investment advisers. Somehow the failure of same to prevent devastating losses in their net worth over the last ten years has not disqualified convention financial thinking from serious consideration. The USDollar is swirling down a black hole of competing currency devaluations, while the golden and silver life preservers are ignored. So sad. Gold is on its way to $1650 in the near future (Jim Sinclair is a long-time predictor of this). Ultimate tops of $2,000 to $10,000 are common expert predictions.
I discovered an intriguing article today "US Prepares for Gold Standard." I haven't had time to digest it yet, but it seems obvious that if the CorpGov hastens the collapse of FedNotes and goes back on a gold standard, it might be nice to have some gold ahead of time. I'd urge you to read that article and explore the fine website. Very stimulating stuff.
Please, friends, if you have any substantial savings in traditional dollar-denominated investments, get out of most of them and protect your purchasing power with real gold and silver. There are plenty of reputable firms out there. I list several on this site. Since the Treasury illegally stopped selling the 1 oz gold eagles recently, you'll have to pay a bit more. But the fractional coins for 1/10, 1/4 and 1/2 ounce are just as nice, and are already neatly divided for smaller purchases.
If you had put $300 FedNotes into an ounce of gold ten years ago, it would now buy more than $1300 FedNotes. Put differently, it took about 38 ounces of real money (gold) to buy the Down Jones back on Jan. 1, 2000 when it was 11,497. Today it would take less than 9 ounces to come up with that same price. (You can use the same math to drop the value of today's DJIA from today's 10,853 to 2,504! That's a massive market collapse in terms of the year 2000 gold price.) Still think the USDollar FedNote is a "safe haven?" The rest of the world doesn't. They're baling out. Only gullible Americans still believe the mantra.
How soon will gold fly? Heck, I don't know. We're not even in a real bull market yet! I'm surprised it has taken 40 years to reach this point since I started paying attention to money. Simple Austrian economic theory always said that the longer the boom lasts, the harder the bust will be. That is why the recovery will be so long and painful. (This is the "new normal" as CBS Sunday Morning called it the other day. They were also pushing for a major tax increase, BTW.)
The simple fact is that we're in uncharted territory. Never in recorded history have we had world-wide currency debauchery and depression like we're now experiencing, with a 7 billion population. We're in times similar to those preceding World War II. War may be the intended, or unintended way for the Ruling Class to keep control. "After analyzing our current crisis and studying well-established historical precedents, one must conclude that creating a world war is the last card the global bankers have left to play, other than conceding power, and history has taught us that the ruling class never concedes power."
We're back to Orwell, aren't we? The famous Report from Iron Mountain laid out the rationale for the Elites to keep us at war to deal with the threats to their position as a result of peace, progress and prosperity. George Orwell had previously given us a fictional portrayal of how it is done in 1984. Obviously were in principle living in Orwell's 1984. It just 2010, and the methods of implementation are as sophisticated as they are technologically advanced.
As I write this, we're about six week's out from the major emotional turning point predicted in the HalfPastHuman "Shape of Things to Come Reports." The multiplicity of events that could singly, or in concert, produce a shattering many magnitudes of 9-11 is staggering. Probably a good time for you to locate/replenish some survival supplies, water filters, medicines, food, etc. Far too many grasshoppers and not enough ants around here.
It is a time of awakening and reckoning. The orchestra's tuning up. The cast is moving into place. The Crisis of the Fourth Turning is unfolding near you. Be ready.
Showing posts with label inflation. Show all posts
Showing posts with label inflation. Show all posts
Tuesday, September 28, 2010
Friday, August 20, 2010
Bombshell: Barack Obama Conclusively Outed as CIA Creation
Ex-CIA Presidential-briefer Wayne Madsen has done what the MainStreamMedia should have done no later than the 2008 Presidential primaries. He has done the research to vet Barry Soetoro, aka Barack H. Obama. This report lays it all out. I had heard many of these things before, but now Madsen has organized the information with the skill of an experienced geopolitical researcher. (Madsen's expose about Obama and Rahm Emmanuel being lifetime members of a ritzy Chicago gay bath house was just a warm-up for the main event.)
In short, Soetoro is a CIA creation, a Manchurian Candidate in full service to the Globalist Ruling Class. He has betrayed his liberal constituency in favor of the Ruling Class. Liberals have been every bit as duped by Soetoro as Conservatives were by George Bush II. As I predicted in November of 2008 after his election, Obama has become Bush on steroids. The change he promised was more of the awful things Bush did -- expanded imperial wars, record deficits, expanded surveillance state, dictatorial Presidency, trashing the Constitution, providing military cover for Israel, etc.
Moreover, most everything Soetoro-Obama is doing is NOT designed to try to help America recover economically and restore us to health. In accordance with his Marxist ideological background (along with his CIA roots), he is doing his dead level best to DESTROY America irreparably. This is the Cloward-Piven Strategy. He is in the employ of those who would bring us a New World Order.This cannot help his cratering Presidency. The only things that can save him is war and/or drawing Sarah Palin as his opponent in 2012.
I hope none of this sounds at all outlandish to you. If it does, you are consuming too much MSM. You're stuck in the Matrix. Do the research. Far too many Americans are in complete denial about what deep s**t we're in. There is no easy way out, nor easy way through this. We are on the way to social and economic breakdown.
The US Government is bankrupt. Adding unfunded liabilities for things like Social Security, Medicare, and pensions, total debt is over $100 Trillion! That is an unfathomable number. There is NO WAY that money will ever be repaid, nor be there with any kind of value when the obligations need to be paid. The dollar fiat currency will be inflated away as was the German Mark after WWI and Zimbabwe's currency now. It now takes almost $1300 USD to buy the same ounce of real money -- gold -- that $300 bought just ten years ago. The dollar is worth 4% of what it was with the founding of the Federal Reserve Bank in 1914. I still predict the death of the dollar by 2014. An inflationary depression followed by a purging is inevitable.
All the western welfare state economies are chained together in a fiat money orgy tied to the soon-to-be-defunct US dollar. The dollar is ripe for a drastic devaluation that will drive up the cost of all those imported goods from China, just at the time when real unemployment is nearing 25%. (Oh, did the MSM Pravda tell you otherwise?) Ambrose Evans-Pritchard says that "Time is Running Out for the West," as the debt crisis is spiraling out of control faster than anyone thought. Need more evidence? Read 40 Horrifying Statistics About the Collapse of the US Economy.
(Incidentally, if you're finally getting around to doing something to protect your remaining assets with precious metals like gold and silver, stay away from your broker's recommendation to buy ETFs. They are a derivative financial asset, not the real thing -- a "golden shell game." They are not redeemable for metals, and when you want the metals, you'll have to sell the paper and see if you can get the metals. If you plan to park your money in cash, remember that gold and silver in your possession is the only real cash that is not someone else's debt.
And the states are little better off, and only getting worse. I'm sure you've all seen the stories.
So things are coming to a head this fall. Whether the Ruling Class follows through on taking us to war with Iran is still an open question. If they do, we will surely suffer horrible unintended consequences. They'll probably use some kind of false flag operation on US soil to shock and awe the brain-dead majority into following Der Furhrer into another great war against the "evil Islamofascists." It worked so well with Afghanistan, Iraq and Pakistan, why not Iran? If it ain't broke, don't fix it. Americans even now seem ready to throw away their blood and treasure for the new Boogie Man.
A false flag terrorist event will lead to military control over the country. That's what happens in wartime, remember? Especially if we're attacked again at home. Military control means martial law, the end of the free internet, round up of "suspected or potential domestic terrorists," siezure of the economy, etc.
If we somehow dodge this bullet, we still face breakdown at home. Paul Craig Roberts has created quite a stir with his recent articles: The Ecstasy of Empire (why the American Empire will end) and The Year America Dissolved (2017 - into distopian clan warfare). Chuck Baldwin warns America Faces Social Breakdown. Everything the Communists said we needed to do to collapse, so they could "bury us," has happened. We are rapidily becoming Soviet Amerika. The only thing not fulfilled is taking away our guns. And don't think they don't have plans for that.
Meanwhile, Obama and his cohorts (who will be quick to tell you how much compassion they have for the downtrodden little people), are living high on the hog in ways that would even make George Bush blush! Instead of setting an example of frugality and sacrifice to match that of their economically suffering countrymen, they are instead living like kings. Indeed, Michelle's recent trip on Air Force Two with 40 of her closest friends to cavort on the Spanish coast got her dubbed "Material Girl" by the NY Daily News.
I can't help but think that forcing the people into some kind of wide-spread civil unrest and even armed revolt is part of what they have planned for us. I certainly hope not.
My preference is more along the lines of that old slogan during the Viet Nam War: "What if they gave a war and no one came?" My hope would be that people will wake up to the reality of what the Ruling Class is up to, and what they're doing to us, and engage in massive non-compliance. Stop playing the game. Stop paying taxes, even stop voting. Stop being willing victims.
What do you think?
In short, Soetoro is a CIA creation, a Manchurian Candidate in full service to the Globalist Ruling Class. He has betrayed his liberal constituency in favor of the Ruling Class. Liberals have been every bit as duped by Soetoro as Conservatives were by George Bush II. As I predicted in November of 2008 after his election, Obama has become Bush on steroids. The change he promised was more of the awful things Bush did -- expanded imperial wars, record deficits, expanded surveillance state, dictatorial Presidency, trashing the Constitution, providing military cover for Israel, etc.
Moreover, most everything Soetoro-Obama is doing is NOT designed to try to help America recover economically and restore us to health. In accordance with his Marxist ideological background (along with his CIA roots), he is doing his dead level best to DESTROY America irreparably. This is the Cloward-Piven Strategy. He is in the employ of those who would bring us a New World Order.This cannot help his cratering Presidency. The only things that can save him is war and/or drawing Sarah Palin as his opponent in 2012.
I hope none of this sounds at all outlandish to you. If it does, you are consuming too much MSM. You're stuck in the Matrix. Do the research. Far too many Americans are in complete denial about what deep s**t we're in. There is no easy way out, nor easy way through this. We are on the way to social and economic breakdown.
The US Government is bankrupt. Adding unfunded liabilities for things like Social Security, Medicare, and pensions, total debt is over $100 Trillion! That is an unfathomable number. There is NO WAY that money will ever be repaid, nor be there with any kind of value when the obligations need to be paid. The dollar fiat currency will be inflated away as was the German Mark after WWI and Zimbabwe's currency now. It now takes almost $1300 USD to buy the same ounce of real money -- gold -- that $300 bought just ten years ago. The dollar is worth 4% of what it was with the founding of the Federal Reserve Bank in 1914. I still predict the death of the dollar by 2014. An inflationary depression followed by a purging is inevitable.
All the western welfare state economies are chained together in a fiat money orgy tied to the soon-to-be-defunct US dollar. The dollar is ripe for a drastic devaluation that will drive up the cost of all those imported goods from China, just at the time when real unemployment is nearing 25%. (Oh, did the MSM Pravda tell you otherwise?) Ambrose Evans-Pritchard says that "Time is Running Out for the West," as the debt crisis is spiraling out of control faster than anyone thought. Need more evidence? Read 40 Horrifying Statistics About the Collapse of the US Economy.
(Incidentally, if you're finally getting around to doing something to protect your remaining assets with precious metals like gold and silver, stay away from your broker's recommendation to buy ETFs. They are a derivative financial asset, not the real thing -- a "golden shell game." They are not redeemable for metals, and when you want the metals, you'll have to sell the paper and see if you can get the metals. If you plan to park your money in cash, remember that gold and silver in your possession is the only real cash that is not someone else's debt.
And the states are little better off, and only getting worse. I'm sure you've all seen the stories.
So things are coming to a head this fall. Whether the Ruling Class follows through on taking us to war with Iran is still an open question. If they do, we will surely suffer horrible unintended consequences. They'll probably use some kind of false flag operation on US soil to shock and awe the brain-dead majority into following Der Furhrer into another great war against the "evil Islamofascists." It worked so well with Afghanistan, Iraq and Pakistan, why not Iran? If it ain't broke, don't fix it. Americans even now seem ready to throw away their blood and treasure for the new Boogie Man.
A false flag terrorist event will lead to military control over the country. That's what happens in wartime, remember? Especially if we're attacked again at home. Military control means martial law, the end of the free internet, round up of "suspected or potential domestic terrorists," siezure of the economy, etc.
If we somehow dodge this bullet, we still face breakdown at home. Paul Craig Roberts has created quite a stir with his recent articles: The Ecstasy of Empire (why the American Empire will end) and The Year America Dissolved (2017 - into distopian clan warfare). Chuck Baldwin warns America Faces Social Breakdown. Everything the Communists said we needed to do to collapse, so they could "bury us," has happened. We are rapidily becoming Soviet Amerika. The only thing not fulfilled is taking away our guns. And don't think they don't have plans for that.
Meanwhile, Obama and his cohorts (who will be quick to tell you how much compassion they have for the downtrodden little people), are living high on the hog in ways that would even make George Bush blush! Instead of setting an example of frugality and sacrifice to match that of their economically suffering countrymen, they are instead living like kings. Indeed, Michelle's recent trip on Air Force Two with 40 of her closest friends to cavort on the Spanish coast got her dubbed "Material Girl" by the NY Daily News.
I can't help but think that forcing the people into some kind of wide-spread civil unrest and even armed revolt is part of what they have planned for us. I certainly hope not.
My preference is more along the lines of that old slogan during the Viet Nam War: "What if they gave a war and no one came?" My hope would be that people will wake up to the reality of what the Ruling Class is up to, and what they're doing to us, and engage in massive non-compliance. Stop playing the game. Stop paying taxes, even stop voting. Stop being willing victims.
What do you think?
Saturday, March 6, 2010
Now is the Time to Preserve Your Capital
In July of 2008, I was warning about the coming financial crisis. I linked to plenty of reasons why a "financial tsunami" was near, and how to protect oneself. I also told friends and family. As best I can tell, no one listened, nor did they give me any credit for making what was really an easy call. Since then, my forecast has been for more financial crisis, deepening depression and the ultimate collapse of the dollar.
As far as I know, none of my friends or family have made a purchase of physical gold. Some have played with ETFs and futures, but none has taken the step to move out of the risky structure of dollar-based investments into holding physical gold or silver.
I'm astounded at the blind faith Americans put in the ability of America to come through this crisis relatively unscathed, and particularly in the dogma that the US dollar is a safe place to park their life savings. While their view may be attributed to historical American optimism, I think it has more to do with intellectual laziness, fear of stepping out from the mainstream, and the massive mind control that few of them can begin to comprehend.
Nevertheless, more people are waking up as the "greatest financial crisis since the Great Depression" will soon become the greatest financial crisis in history." It will be world-wide.
The good news is that even for those who have put off protecting themselves, there is still have time to act. You can still protect what's left of your capital. All it takes is a little bit of courage to look reality square in the face and take actions that most of your friends have not. For most people of modest means that means buying and taking delivery of gold and silver coins.
"Paper gold", i.e,. ETF's (exchange traded funds) should never be considered a substitute for holding real, physical gold and silver. There is much speculation not only about the gold supposedly backing them up, but about possible counterfeit gold bars being held as security.
The reasoning is quite simple. As Voltaire said almost 250 years ago, paper (fiat) currencies always revert to their intrinsic value -- nothing. Not one paper currency has survived intact, without massive devaluation or hyperinflation. The US dollar has lost almost 96% of its purchasing power since the Federal Reserve was founded in 1914. The exponential increase of the money supply of the last 18 months sealed the dollar's fate.
The massive deficits incurred during the Bush and Obama administrations are escalating and will never be repaid. The unfunded liabilities for Social Security, Medicare and most pensions are even worse. The only way they will be paid off will be with nominal dollars created out of nothing.
Moreover, Congress is lustfully eying that last pool of untapped capital in the country: the private pension plans, 401-Ks and IRAs. All indications are that after an appropriate crisis or scandal, they will be nationalized and replaced with some kind of government annuity similar to Social Security. The government will spend the capital for current needs, replacing it with non-marketable IOUs while they "guarantee" our retirement. Guaranteed impoverishment is more like it. (I just recently cashed in over half my IRA's with the rest coming shortly.)
But don't take my word for it. Check out the vast collection of analysis provided below. Study, decide, and then act. Don't wait for the rest of the herd to wake up and tell you it is okay. And certainly don't wait for your financial adviser to tell you. Think about it. Once you take your money away from your adviser and buy precious metals for delivery, he won't make another nickel on you. So what is his incentive (besides integrity) to tell you leave conventional investments?
I've just posted an extensive list of articles designed to help you and your loved ones protect your capital from the coming devaluation and/or inflation of the US Dollar. All international currencies are depreciating in value against gold and silver.
You still have time to protect yourself. The prices of gold and silver won't go much lower in these currencies and has a virtual unlimited upside potential.
Gold was by far the best investment class of the first decade of new century, with the price going from around $300 to close to $1200. Gold is regaining its historical role as the international currency. If you had bought 4 of those coins you'd have $4800 worth today!
A 1 oz. gold coin you buy today will still contain 1 oz. of gold in 10, 20 or even 100 years. What do you think will be the purchasing power of the $1200 required to buy it in that same time period? Remember: it took $20 to buy that coin almost a hundred years ago. If your grandfather had spent $1200 on gold coins back then and stuck them in a safe, you'd have 60 of those coins today! That would be worth $72,000 in today's purchasing power (and that's not allowing anything for numismatic value!)
My two preferred vendors are Goldmasters and Franklin Sanders. There are many others out there. I don't recommend buying from anyone that spends a lot of money on television advertising. They have to build it into the price.
There's not a lot of commentary below. The articles speak for themselves.
Have courage!
The Road to Armageddon - Paul Craig Roberts
2010 - Preservation of Capital is the Highest Imperative - Marc Faber
The British Pound Could Collapse in Weeks - Jim Rogers
Massive Bank Failures are Coming - Banking Commission
Bonds, the Next Financial Slaughterhouse - John Galt
Gold Will Soon Be Restored as World's Currency - Jim Willie
China's Purchase of IMF Gold Begins Next Leg Up on Precious Metals Boom
Sky Rocketing Global Debt Makes Hard Assets a Safe Haven
Debt Dynamite Dominoes: The Coming Financial Catastrophe
The "Fourth Turning" Will Bring 21st Century Crisis
Liquidating the Empire - Pat Buchanan
Coup by Economic Elite Threatens Existence of Middle Class
How to Prepare for Global Debt Bomb Explosion
The Demise of the US, an American Tragedy
Fear DAVOS 2010 -- Into the Bomb Shelter
Higher Highs Coming in Gold
Silver's Most Important Price Point
Gold Analysis and Price Trends for 2010
Gold and the China Commodities Game-Changing Action
Gold, Pension Plans and IRA's
Connections Video
Bankruptcy of the US is Now Certain
Why Gold and Silver Are Important, and Often Manipulated
Gold: China's End Game?
Why Inflation Will Come
Why Gold Will Keep Going Up for Years
Gold's Price is Appreciating Against All Major Currencies - Barron's
"Gold isn't going up, currencies are going down," says James Turk. "The purchasing power of gold remains basically unchanged against commodities. In contrast, the purchasing power of national currencies is being constantly eroded."
The Coming Gold Shortage
More on the Coming Gold Shortage
The Mogambo Guru writes on the implications of the gold shortage - (Buy gold, silver and oil -- now!)
The Coming Obama Retirement Trap
401K/IRA Screw Job Coming?
America's Hidden Debt Bombs -- CNN Money
Gold: Greatest Currency Trade of the Millennium?
A Larger Financial Crisis is Inevitable -Non-partisan economists group
Panic at the Fed? Or Back to Normalcy? - Apparently the Fed is panicking to try to prop up the US bond market.
Veteran Investor Richard Russell Prefers Gold to Cash and Bonds
As far as I know, none of my friends or family have made a purchase of physical gold. Some have played with ETFs and futures, but none has taken the step to move out of the risky structure of dollar-based investments into holding physical gold or silver.
I'm astounded at the blind faith Americans put in the ability of America to come through this crisis relatively unscathed, and particularly in the dogma that the US dollar is a safe place to park their life savings. While their view may be attributed to historical American optimism, I think it has more to do with intellectual laziness, fear of stepping out from the mainstream, and the massive mind control that few of them can begin to comprehend.
Nevertheless, more people are waking up as the "greatest financial crisis since the Great Depression" will soon become the greatest financial crisis in history." It will be world-wide.
The good news is that even for those who have put off protecting themselves, there is still have time to act. You can still protect what's left of your capital. All it takes is a little bit of courage to look reality square in the face and take actions that most of your friends have not. For most people of modest means that means buying and taking delivery of gold and silver coins.
"Paper gold", i.e,. ETF's (exchange traded funds) should never be considered a substitute for holding real, physical gold and silver. There is much speculation not only about the gold supposedly backing them up, but about possible counterfeit gold bars being held as security.
The reasoning is quite simple. As Voltaire said almost 250 years ago, paper (fiat) currencies always revert to their intrinsic value -- nothing. Not one paper currency has survived intact, without massive devaluation or hyperinflation. The US dollar has lost almost 96% of its purchasing power since the Federal Reserve was founded in 1914. The exponential increase of the money supply of the last 18 months sealed the dollar's fate.
The massive deficits incurred during the Bush and Obama administrations are escalating and will never be repaid. The unfunded liabilities for Social Security, Medicare and most pensions are even worse. The only way they will be paid off will be with nominal dollars created out of nothing.
Moreover, Congress is lustfully eying that last pool of untapped capital in the country: the private pension plans, 401-Ks and IRAs. All indications are that after an appropriate crisis or scandal, they will be nationalized and replaced with some kind of government annuity similar to Social Security. The government will spend the capital for current needs, replacing it with non-marketable IOUs while they "guarantee" our retirement. Guaranteed impoverishment is more like it. (I just recently cashed in over half my IRA's with the rest coming shortly.)
But don't take my word for it. Check out the vast collection of analysis provided below. Study, decide, and then act. Don't wait for the rest of the herd to wake up and tell you it is okay. And certainly don't wait for your financial adviser to tell you. Think about it. Once you take your money away from your adviser and buy precious metals for delivery, he won't make another nickel on you. So what is his incentive (besides integrity) to tell you leave conventional investments?
I've just posted an extensive list of articles designed to help you and your loved ones protect your capital from the coming devaluation and/or inflation of the US Dollar. All international currencies are depreciating in value against gold and silver.
You still have time to protect yourself. The prices of gold and silver won't go much lower in these currencies and has a virtual unlimited upside potential.
Gold was by far the best investment class of the first decade of new century, with the price going from around $300 to close to $1200. Gold is regaining its historical role as the international currency. If you had bought 4 of those coins you'd have $4800 worth today!
A 1 oz. gold coin you buy today will still contain 1 oz. of gold in 10, 20 or even 100 years. What do you think will be the purchasing power of the $1200 required to buy it in that same time period? Remember: it took $20 to buy that coin almost a hundred years ago. If your grandfather had spent $1200 on gold coins back then and stuck them in a safe, you'd have 60 of those coins today! That would be worth $72,000 in today's purchasing power (and that's not allowing anything for numismatic value!)
My two preferred vendors are Goldmasters and Franklin Sanders. There are many others out there. I don't recommend buying from anyone that spends a lot of money on television advertising. They have to build it into the price.
There's not a lot of commentary below. The articles speak for themselves.
Have courage!
The Road to Armageddon - Paul Craig Roberts
2010 - Preservation of Capital is the Highest Imperative - Marc Faber
The British Pound Could Collapse in Weeks - Jim Rogers
Massive Bank Failures are Coming - Banking Commission
Bonds, the Next Financial Slaughterhouse - John Galt
Gold Will Soon Be Restored as World's Currency - Jim Willie
China's Purchase of IMF Gold Begins Next Leg Up on Precious Metals Boom
Sky Rocketing Global Debt Makes Hard Assets a Safe Haven
Debt Dynamite Dominoes: The Coming Financial Catastrophe
The "Fourth Turning" Will Bring 21st Century Crisis
Liquidating the Empire - Pat Buchanan
Coup by Economic Elite Threatens Existence of Middle Class
How to Prepare for Global Debt Bomb Explosion
The Demise of the US, an American Tragedy
Fear DAVOS 2010 -- Into the Bomb Shelter
Higher Highs Coming in Gold
Silver's Most Important Price Point
Gold Analysis and Price Trends for 2010
Gold and the China Commodities Game-Changing Action
Gold, Pension Plans and IRA's
Connections Video
Bankruptcy of the US is Now Certain
Why Gold and Silver Are Important, and Often Manipulated
Gold: China's End Game?
Why Inflation Will Come
Why Gold Will Keep Going Up for Years
Gold's Price is Appreciating Against All Major Currencies - Barron's
"Gold isn't going up, currencies are going down," says James Turk. "The purchasing power of gold remains basically unchanged against commodities. In contrast, the purchasing power of national currencies is being constantly eroded."
The Coming Gold Shortage
More on the Coming Gold Shortage
Drawdowns of the metals from the exchanges is outpacing deposits. "
"Investors should make sure they own physical bullion and not a paper substitute. When the music stops, and it looks like it could be soon, paper promises will not be honored with bullion. When a shortage becomes obvious to investors the price of bullion will be multiples of its current price. But those holding paper promises will not benefit. At best they will be paid in fiat currency and probably after months or years of legal wrangles, and most likely at the price on the day of default, not at the price on the day of settlement. Why accept anything but physical bullion?"
The Mogambo Guru writes on the implications of the gold shortage - (Buy gold, silver and oil -- now!)
The Coming Obama Retirement Trap
401K/IRA Screw Job Coming?
America's Hidden Debt Bombs -- CNN Money
Gold: Greatest Currency Trade of the Millennium?
A Larger Financial Crisis is Inevitable -Non-partisan economists group
Panic at the Fed? Or Back to Normalcy? - Apparently the Fed is panicking to try to prop up the US bond market.
Veteran Investor Richard Russell Prefers Gold to Cash and Bonds
Tuesday, October 6, 2009
The Poisoning of America Begins
Swine Flu
The Poisoning of America Begins this week. Read this article. If you take the shot you risk irreversible damage or even death. The "lucky" first recipients can get a nasal spray which can spread the virus when they sneeze. Sweet!
The media campaign has begun. It's a full court press from all sides. Why do they want you to take the shots that the government paid $8 billion for? Have you done your homework yet? Do you trust the government to tell you the truth still?
Read why Propaganda Trumps Truth. Americans are just as willing as 1930-40's Germans to believe the Big Lie. I've observed this repeatedly in conversations with friends and family. I'm sad to say that only about ten percent of the people I encounter have any kind of curiosity or open mind to consider new information, especially if it challenges their currently held beliefs. Even though most would say they hold Truth as a high value, their actions show that they prefer self-delusion and the comfort of lies. How strong is your commitment to seek and live by Truth?
WeAreChange Oklahoma has a good video on what might be the State's response and plan in Oklahoma. Your state's response will probably be similar.
Freedom of Speech
The internet is now under the complete control of ICANN. The US, which developed the internet, has turned it over to a private corporation under UN (NWO) control. The internet provides alternative news sources which are the greatest threat to the NWO. Incremental controls impose China-like censorship on all of us.
Death of the Dollar
Last Saturday the web bot folks posted this warning that their predictive linguistics are saying that the USD could die much more rapidly than they previously thought. I strongly urge you to get their reports at the steep price of $10.
The price of gold hit an all time high today when it went up to $1044 in USD. If you are still wondering if you should take a risk and buy gold instead of the "safe" USD, your procrastination has now cost you more money. The World Bank and the IMF Join Global Attack on the Dollar. Have you positioned what's left of your investments and retirement plan to survive the death of the USD and its displacement as the world's reserve currency?
Robert Fisk reports that the Arab states are in secret negotions with China, Russia and France to replace the USD as the main currency to settle oil transactions. This prediction that the death of the dollar began on September 30 appears to becoming fulfilled. The HalfPastHuman web bot folks predicted the "death of the dollar" meme would be come increasingly prevalent throughout the fall.
Economic crash and collapse is ahead of us. Also, Martin Weiss writes Three Government Reports Point to Fiscal Doomsday. Are you preparing yet? If not, why?
Martin Armstrong, former head of Princeton Economics, thinks gold may be headed to $5,000. Stated differently, the dollar may drop to 20% of its current value within a few years.
Was Israel involved in the assassinations of JFK and JFK, Jr? The thesis about both seems strong, especially for JFK, Jr. What is clear with any study is that Jr. was murdered. It was no accident. Both father and son had multiple enemies who had the motive, means and opportunity to commit the crimes. The truth is likely that several parties were involved in each, at least in the cover-ups.
While putting this post together, I found this series of videos about JFK, Jr.'s murder. Pay attention to how long it takes to start a search and how the Pentagon suddenly gets involved. Surprise, surprise. The Bushes seem to be implicated, too.
Health
When I encountered a health challenge fifteen years ago, I made drastic changes to my diet. One of the things I did was add lots of soy. It was touted a healthy source of protein. Recently I've read a number of articles that point out that soy is actually bad for you! "Why Soy Is Bad for You" is a great summary. It references The Whole Soy Story: The Dark Side of America's Favorite Health Food (available in our Amazon store). Since soy so pervasive in most processed foods, you need to learn about this.
A virus seems to be involved in aggressive prostate cancer cells. To my knowledge the medical establishment denies PCa could be virus-related.
Catch this video where a professional photographer (a man who is trained to observe) says there is not discernible airliner debris at Shanksville, PA eight years ago. Just as 9-11-01 had coincidental anomalies where the first three steel framed skyscrapers supposedly collapsed for the first time in history, Shanksville joins the Pentagon as sites where large airliner crashes left no discernible debris. Are you still afraid to know the truth about 9-11?
That's about it for now. The beat goes on. . . .
Grace and Peace and Courage to You!
The Poisoning of America Begins this week. Read this article. If you take the shot you risk irreversible damage or even death. The "lucky" first recipients can get a nasal spray which can spread the virus when they sneeze. Sweet!
The media campaign has begun. It's a full court press from all sides. Why do they want you to take the shots that the government paid $8 billion for? Have you done your homework yet? Do you trust the government to tell you the truth still?
Read why Propaganda Trumps Truth. Americans are just as willing as 1930-40's Germans to believe the Big Lie. I've observed this repeatedly in conversations with friends and family. I'm sad to say that only about ten percent of the people I encounter have any kind of curiosity or open mind to consider new information, especially if it challenges their currently held beliefs. Even though most would say they hold Truth as a high value, their actions show that they prefer self-delusion and the comfort of lies. How strong is your commitment to seek and live by Truth?
WeAreChange Oklahoma has a good video on what might be the State's response and plan in Oklahoma. Your state's response will probably be similar.
Freedom of Speech
The internet is now under the complete control of ICANN. The US, which developed the internet, has turned it over to a private corporation under UN (NWO) control. The internet provides alternative news sources which are the greatest threat to the NWO. Incremental controls impose China-like censorship on all of us.
Death of the Dollar
Last Saturday the web bot folks posted this warning that their predictive linguistics are saying that the USD could die much more rapidly than they previously thought. I strongly urge you to get their reports at the steep price of $10.
The price of gold hit an all time high today when it went up to $1044 in USD. If you are still wondering if you should take a risk and buy gold instead of the "safe" USD, your procrastination has now cost you more money. The World Bank and the IMF Join Global Attack on the Dollar. Have you positioned what's left of your investments and retirement plan to survive the death of the USD and its displacement as the world's reserve currency?
Robert Fisk reports that the Arab states are in secret negotions with China, Russia and France to replace the USD as the main currency to settle oil transactions. This prediction that the death of the dollar began on September 30 appears to becoming fulfilled. The HalfPastHuman web bot folks predicted the "death of the dollar" meme would be come increasingly prevalent throughout the fall.
Economic crash and collapse is ahead of us. Also, Martin Weiss writes Three Government Reports Point to Fiscal Doomsday. Are you preparing yet? If not, why?
Martin Armstrong, former head of Princeton Economics, thinks gold may be headed to $5,000. Stated differently, the dollar may drop to 20% of its current value within a few years.
Martial Law
American Constitutionalists, patriots and veterans have again been named as potential terrorists by in a warning issued by the Southern Poverty Law Center. The Girl Scouts have joined the Boy Scouts in teaming with DHS to help them out in emergencies. Remember Obama's civilian national security force? Now Obama Youth = Hitler Youth.
Was Israel involved in the assassinations of JFK and JFK, Jr? The thesis about both seems strong, especially for JFK, Jr. What is clear with any study is that Jr. was murdered. It was no accident. Both father and son had multiple enemies who had the motive, means and opportunity to commit the crimes. The truth is likely that several parties were involved in each, at least in the cover-ups.
While putting this post together, I found this series of videos about JFK, Jr.'s murder. Pay attention to how long it takes to start a search and how the Pentagon suddenly gets involved. Surprise, surprise. The Bushes seem to be implicated, too.
Health
When I encountered a health challenge fifteen years ago, I made drastic changes to my diet. One of the things I did was add lots of soy. It was touted a healthy source of protein. Recently I've read a number of articles that point out that soy is actually bad for you! "Why Soy Is Bad for You" is a great summary. It references The Whole Soy Story: The Dark Side of America's Favorite Health Food (available in our Amazon store). Since soy so pervasive in most processed foods, you need to learn about this.
A virus seems to be involved in aggressive prostate cancer cells. To my knowledge the medical establishment denies PCa could be virus-related.
Understanding the Times
One of my favorite bloggers is Les over at Smoking Mirrors. I've added his site to my Best Analysis sites. Check out one of his latest "Alas Babylon and the Neanderthal Mind."
Catch this video where a professional photographer (a man who is trained to observe) says there is not discernible airliner debris at Shanksville, PA eight years ago. Just as 9-11-01 had coincidental anomalies where the first three steel framed skyscrapers supposedly collapsed for the first time in history, Shanksville joins the Pentagon as sites where large airliner crashes left no discernible debris. Are you still afraid to know the truth about 9-11?
That's about it for now. The beat goes on. . . .
Grace and Peace and Courage to You!
Saturday, July 26, 2008
Why Do They Hate Us?
It's easy for Americans to believe that the reason terrorists attacked us is because they hate our “freedoms.” That’s what President Bush told us, and that’s what we desperately want to believe. After all, we’re Americans, aren’t we? We believe in American Exceptionalism.
American Exceptionalism is a belief that died a long, slow death in me. I was raised on a steady diet of Superman, The Lone Ranger, GI Joe, Roy Rogers and the like. You know, “Truth, Justice, and the American Way.” I believe in the Declaration of Independence and the ideals of the Founders. Culture and schooling taught me that everything America did in the world was for the good, and appreciated. We were American GI’s handing out chocolate to grateful German children in bombed out Dresden. I still believe in these ideals, but no longer believe American Exceptionalism covers a multitude of US government sins.
Most people I know are really nice and good at heart. They believe these things, too. Many even believed Iraqis would greet us as liberators. Only evil people would resent our occupation of Iraq and Afghanistan and fight against us. And only very evil people would try to outwit our massive firepower and technology by engaging in such un-American activities as Fourth Generation warfare using IEDs and suicide bombings. Americans prefer bombing suspected terrorists from a high altitude. They believe five-hundred pound cluster bombs are not tools of terrorism.
This history of the CIA is coincidental with the rise of anti-American sentiment in the world. Chalmers Johnson (see "Oil and Blowback," "The Sorrows of Empire," and "The Military Industrial Complex") and many others have written extensively on the “blowback” from American policies, especially the clandestine activities of the CIA. Assassinations, training death squads, toppling governments, creating al Qaeda, setting Saddam Hussein in power in Iraq and giving him WMD to fight Iran – all have been the stock in trade for the CIA.
One example of Americans' blindness because of their ignorance of history and belief in American Exceptionalism is the email that’s made many trips around the internet. It maintains that all this Islamic terrorism started when, for some unknown reason, Iranian students took over the US embassy in Iran in 1979. None of the perpetrators of this email seem to know, or care, that the Iranian problem really began when the CIA overthrew the democratically elected government of Mohammed Mossadegh in 1953 and replaced him with the repressive Shah.
We would do well to realize that most of the earth’s population now sees the United States as the greatest threat to world peace and stability. We’ve used up our good will. They’re now coming to hate us, and want to see us brought down. We’ve now become what Charley Reese calls a “Rogue Nation.” (If you think an attack on Iran would be in our best interests, read this article. You might change your mind.)
It is time for us to have an intervention so we can break through our denial. Once we begin to see how others see us, then maybe we can get real and take the steps necessary to regain the moral high ground in world opinion.
Start with Paul Craig Roberts’ excellent article, “We, the Salt of the Earth, Take Precedence.” This is American Exceptionalism in action.
Then Karl Schwartz has a sobering dissertation on why America’s awful elected representatives are taking us down the road to ruin. Whether we elect Obama or McCain, this will not change.
_________________________________________________
Ron Paul reports on "The Mother of All Bailouts." The Treasury is now supplying an open-ended line of credit to buy mortgages no one else wants. This is yet another nail in the coffin for the US Dollar, further ensuring runaway inflation. If you keep your investment and retirement funds in US stocks and bonds, don't say you weren't warned. As an addendum, all credit card transactions will now be reported to the IRS!
_________________________________________________
I’m gathering a lot of data about what to expect from President Obama. It’s not pretty or hopeful. And most of you won’t like the things he will continue, or the changes he’ll make. A “perfect storm” in American politics is coming on us at the same time it is happening to the economy. I hope to start writing on that next week. For a humorous look at O's recent "Rainbow Tour" (ala Eva Peron), read this. And note the free rock concert prior to his German speech.
American Exceptionalism is a belief that died a long, slow death in me. I was raised on a steady diet of Superman, The Lone Ranger, GI Joe, Roy Rogers and the like. You know, “Truth, Justice, and the American Way.” I believe in the Declaration of Independence and the ideals of the Founders. Culture and schooling taught me that everything America did in the world was for the good, and appreciated. We were American GI’s handing out chocolate to grateful German children in bombed out Dresden. I still believe in these ideals, but no longer believe American Exceptionalism covers a multitude of US government sins.
Most people I know are really nice and good at heart. They believe these things, too. Many even believed Iraqis would greet us as liberators. Only evil people would resent our occupation of Iraq and Afghanistan and fight against us. And only very evil people would try to outwit our massive firepower and technology by engaging in such un-American activities as Fourth Generation warfare using IEDs and suicide bombings. Americans prefer bombing suspected terrorists from a high altitude. They believe five-hundred pound cluster bombs are not tools of terrorism.
This history of the CIA is coincidental with the rise of anti-American sentiment in the world. Chalmers Johnson (see "Oil and Blowback," "The Sorrows of Empire," and "The Military Industrial Complex") and many others have written extensively on the “blowback” from American policies, especially the clandestine activities of the CIA. Assassinations, training death squads, toppling governments, creating al Qaeda, setting Saddam Hussein in power in Iraq and giving him WMD to fight Iran – all have been the stock in trade for the CIA.
One example of Americans' blindness because of their ignorance of history and belief in American Exceptionalism is the email that’s made many trips around the internet. It maintains that all this Islamic terrorism started when, for some unknown reason, Iranian students took over the US embassy in Iran in 1979. None of the perpetrators of this email seem to know, or care, that the Iranian problem really began when the CIA overthrew the democratically elected government of Mohammed Mossadegh in 1953 and replaced him with the repressive Shah.
We would do well to realize that most of the earth’s population now sees the United States as the greatest threat to world peace and stability. We’ve used up our good will. They’re now coming to hate us, and want to see us brought down. We’ve now become what Charley Reese calls a “Rogue Nation.” (If you think an attack on Iran would be in our best interests, read this article. You might change your mind.)
It is time for us to have an intervention so we can break through our denial. Once we begin to see how others see us, then maybe we can get real and take the steps necessary to regain the moral high ground in world opinion.
Start with Paul Craig Roberts’ excellent article, “We, the Salt of the Earth, Take Precedence.” This is American Exceptionalism in action.
Then Karl Schwartz has a sobering dissertation on why America’s awful elected representatives are taking us down the road to ruin. Whether we elect Obama or McCain, this will not change.
_________________________________________________
Ron Paul reports on "The Mother of All Bailouts." The Treasury is now supplying an open-ended line of credit to buy mortgages no one else wants. This is yet another nail in the coffin for the US Dollar, further ensuring runaway inflation. If you keep your investment and retirement funds in US stocks and bonds, don't say you weren't warned. As an addendum, all credit card transactions will now be reported to the IRS!
_________________________________________________
I’m gathering a lot of data about what to expect from President Obama. It’s not pretty or hopeful. And most of you won’t like the things he will continue, or the changes he’ll make. A “perfect storm” in American politics is coming on us at the same time it is happening to the economy. I hope to start writing on that next week. For a humorous look at O's recent "Rainbow Tour" (ala Eva Peron), read this. And note the free rock concert prior to his German speech.
Wednesday, July 23, 2008
Financial Tsunami Update
"Your friends tell you what you need to hear, not what you want to hear."
While there are many analogies to describe our worldwide financial crisis, "tsunami" seems most appropriate. Tsunamis are caused by earthquakes or structural shifts that have been a long time building, they appear rapidly and seemingly out of nowhere, they catch most people unawares, and they cause massive, long-lasting devastation. If the survivors are lucky, they will get help to bury the dead, clean up the mess and rebuild from other, unaffected parties. If they are unlucky, they will be left to rebuild on what's left of their resources.
The current financial tsunami had its origins in the creation of the Federal Reserve Bank in 1913. Since then, the explosion of fiat currency has reached the point where today's dollar is worth approximately 2-cents compared to what it was then (as measured by the price of gold). A $20 gold piece would buy a good man's suit back then. It still will today. (I guess today when I give people my opinion, I ought to tell them it is my "dollar's worth!" -- Rim shot!)
There's still time for you to get you and your family to higher financial ground. See earlier posts for more practical advice.
Jim Puplava's blockbuster interview with Bud Burrell about institutional financial crimes is a real eye-opener. Criminals of high finance are raping the savings and businesses of American citizens. They're dealing with hundreds of billions of dollars and are extremely well-connected. You've probably never heard this story. I handn't. Burrell maintains half the value of Americans' retirement accounts has been stolen using these methods.
Jim Cramer of CNBC has told his viewers "Sell everything. Nothing's working." The always bullish Cramer is now a bear. "In 25 years on Wall Street, I have never seen things this bad." Interestingly, Cramer is mentioned in the Burrell interview above. JP Morgan's CEO says prime mortgages look "terrible," and says even though they wrote off $104 million in loan losses in the second quarter, "We're very early in the loss curve."
Famed investor Jim Rogers said on CNBC (remarkably) that it is a terrible mistake to bail out Fannie Mae and Freddie Mac. In 240 years the debt of the US government reached $5 trillion. Paulson's proposal to bail out F & F will double the debt to $10 trillion!
Reuters reports that US economic authorities' confidence in their own ability to rescue the country from the spreading financial panic is at the lowest level yet. "You see a massive potential for financial meltdown on a global scale," says one analyst. Another analyst from the same firm estimated more than 300 US banks could fail in the next three years, double the February estimate.
Bob Chapman calls it "A Complete and Systemic Breakdown." The IndyMac failure was the largest bank failure in the last 23 years, and wiped out 10-20% of the FDIC's meager reserves that insure the entire banking system! His must-read analysis will help your lethargic brother-in-law break out of his stupor and get serious about taking defensive actions. The value of the US dollar will be inflated much more as the figurative printing presses work overtime to flush the system with liquidity to keep it afloat.
If your savings are in dollar-denominated assets, you had better make sure they are backed by something of real value, like gold, silver or well-chosen real estate. Oh, and check your bank's strength at BankRate.com. This is a hot time of year to join those lines of depositors trying to get their money out of a failed bank.
Gary North pointed out in his Remnant Review that we saw "the classic mark of panic in high circles" last week when Bush held a hastily called press conference last Tuesday to tell Americans to remain calm. "When the President of the United States has to hold a press conference to get a sound bite for the evening news, and this sound bite is for the public to remain calm, there's panic in the White House."
European countries are suffering from the effects of their own real estate crashes. The U.K.'s Telegraph reported that "Spain's finance minister Pedro Solbes has stunned the markets with an admission that his country faces the worst economic crisis in its history as the full effects of the property crash spread through the economy."
Jim Willie writes the excellent, comprehensive financial "Hat Trick Letter". His latest issue discusses a myriad of aspects of the tsunami. He lists a number of major US industries that are on the path to nationalization, as well as the triage procedures used by the Fed and Treasury to determine which institutions die and which are too big or well-connected to fail. If you want to stay abreast of what's happening, I strongly suggest you subscribe.
Jim Kunstler's blog has a needlessly offensive title with some incisive analysis. "Not Your Grandma's Depression" makes his case why the coming depression will be much worse than that of the 1930's. William Thompson, Chairman of Private Capital, Hong Kong also tells why this depression will be the worst since the one we call "Great" in this interview. [World War I was called "The Great War," until World War II came along. Maybe we're facing "World Depression II."] Thompson gives some good advice for protecting your savings, including avoiding US Treasury debt.
Baby Boomers face a "financial Armageddon" because the Social Security and Medicare systems will go bankrupt when 77 million tax-paying baby boomers become 77 million check recipients. Isn't there a Trust Fund accumulating all the surplus of contributions left after distributions? Not exactly. You see, all those surpluses were lent to the politicians to fund their vote-buying programs, replacing the cash in the fund with government bonds. Where will the government get the cash to redeem those bonds to pay out benefits when the "surplus" revenues are needed in the future? They'll have to create even more "money" out of thin air. There goes what will be left of value in the dollar at that time. Everyone seems to know about this problem, but no politician wants to take the painful steps to fix it.
Speaking of inflation, Doug Casey's latest graph shows the Producer Price Index in both the US and Canada foretelling much higher inflation in the Consumer Price Index. And, remember, this is using faked government statistics designed to understate actual inflation.
Think we should drill more oil to increase supply to lower prices? The Democrats don't. According to Senator Maria Cantwell, the nanny-state Dems want to "wean" us off of oil.
David McAlvaney's podcast further elucidates the financial challenges we face. And Martin Weiss talks about the government's faked statistics that hide the true state of financial affairs. He also sees deepening depression accompanied by runaway inflation.
Ambrose Evans-Prichard says "The Global Economy is in Maximum Danger."
While there are many analogies to describe our worldwide financial crisis, "tsunami" seems most appropriate. Tsunamis are caused by earthquakes or structural shifts that have been a long time building, they appear rapidly and seemingly out of nowhere, they catch most people unawares, and they cause massive, long-lasting devastation. If the survivors are lucky, they will get help to bury the dead, clean up the mess and rebuild from other, unaffected parties. If they are unlucky, they will be left to rebuild on what's left of their resources.
The current financial tsunami had its origins in the creation of the Federal Reserve Bank in 1913. Since then, the explosion of fiat currency has reached the point where today's dollar is worth approximately 2-cents compared to what it was then (as measured by the price of gold). A $20 gold piece would buy a good man's suit back then. It still will today. (I guess today when I give people my opinion, I ought to tell them it is my "dollar's worth!" -- Rim shot!)
There's still time for you to get you and your family to higher financial ground. See earlier posts for more practical advice.
Jim Puplava's blockbuster interview with Bud Burrell about institutional financial crimes is a real eye-opener. Criminals of high finance are raping the savings and businesses of American citizens. They're dealing with hundreds of billions of dollars and are extremely well-connected. You've probably never heard this story. I handn't. Burrell maintains half the value of Americans' retirement accounts has been stolen using these methods.
Jim Cramer of CNBC has told his viewers "Sell everything. Nothing's working." The always bullish Cramer is now a bear. "In 25 years on Wall Street, I have never seen things this bad." Interestingly, Cramer is mentioned in the Burrell interview above. JP Morgan's CEO says prime mortgages look "terrible," and says even though they wrote off $104 million in loan losses in the second quarter, "We're very early in the loss curve."
Famed investor Jim Rogers said on CNBC (remarkably) that it is a terrible mistake to bail out Fannie Mae and Freddie Mac. In 240 years the debt of the US government reached $5 trillion. Paulson's proposal to bail out F & F will double the debt to $10 trillion!
Reuters reports that US economic authorities' confidence in their own ability to rescue the country from the spreading financial panic is at the lowest level yet. "You see a massive potential for financial meltdown on a global scale," says one analyst. Another analyst from the same firm estimated more than 300 US banks could fail in the next three years, double the February estimate.
Bob Chapman calls it "A Complete and Systemic Breakdown." The IndyMac failure was the largest bank failure in the last 23 years, and wiped out 10-20% of the FDIC's meager reserves that insure the entire banking system! His must-read analysis will help your lethargic brother-in-law break out of his stupor and get serious about taking defensive actions. The value of the US dollar will be inflated much more as the figurative printing presses work overtime to flush the system with liquidity to keep it afloat.
If your savings are in dollar-denominated assets, you had better make sure they are backed by something of real value, like gold, silver or well-chosen real estate. Oh, and check your bank's strength at BankRate.com. This is a hot time of year to join those lines of depositors trying to get their money out of a failed bank.
Gary North pointed out in his Remnant Review that we saw "the classic mark of panic in high circles" last week when Bush held a hastily called press conference last Tuesday to tell Americans to remain calm. "When the President of the United States has to hold a press conference to get a sound bite for the evening news, and this sound bite is for the public to remain calm, there's panic in the White House."
European countries are suffering from the effects of their own real estate crashes. The U.K.'s Telegraph reported that "Spain's finance minister Pedro Solbes has stunned the markets with an admission that his country faces the worst economic crisis in its history as the full effects of the property crash spread through the economy."
Jim Willie writes the excellent, comprehensive financial "Hat Trick Letter". His latest issue discusses a myriad of aspects of the tsunami. He lists a number of major US industries that are on the path to nationalization, as well as the triage procedures used by the Fed and Treasury to determine which institutions die and which are too big or well-connected to fail. If you want to stay abreast of what's happening, I strongly suggest you subscribe.
Jim Kunstler's blog has a needlessly offensive title with some incisive analysis. "Not Your Grandma's Depression" makes his case why the coming depression will be much worse than that of the 1930's. William Thompson, Chairman of Private Capital, Hong Kong also tells why this depression will be the worst since the one we call "Great" in this interview. [World War I was called "The Great War," until World War II came along. Maybe we're facing "World Depression II."] Thompson gives some good advice for protecting your savings, including avoiding US Treasury debt.
Baby Boomers face a "financial Armageddon" because the Social Security and Medicare systems will go bankrupt when 77 million tax-paying baby boomers become 77 million check recipients. Isn't there a Trust Fund accumulating all the surplus of contributions left after distributions? Not exactly. You see, all those surpluses were lent to the politicians to fund their vote-buying programs, replacing the cash in the fund with government bonds. Where will the government get the cash to redeem those bonds to pay out benefits when the "surplus" revenues are needed in the future? They'll have to create even more "money" out of thin air. There goes what will be left of value in the dollar at that time. Everyone seems to know about this problem, but no politician wants to take the painful steps to fix it.
Speaking of inflation, Doug Casey's latest graph shows the Producer Price Index in both the US and Canada foretelling much higher inflation in the Consumer Price Index. And, remember, this is using faked government statistics designed to understate actual inflation.
Think we should drill more oil to increase supply to lower prices? The Democrats don't. According to Senator Maria Cantwell, the nanny-state Dems want to "wean" us off of oil.
David McAlvaney's podcast further elucidates the financial challenges we face. And Martin Weiss talks about the government's faked statistics that hide the true state of financial affairs. He also sees deepening depression accompanied by runaway inflation.
Ambrose Evans-Prichard says "The Global Economy is in Maximum Danger."
Tuesday, July 15, 2008
Hyperstagflation on the Way
Bob Chapman continues to provide comprehensive analysis of our financial decline. His latest The International Forecaster lays out the formula for "hyperstagflation." Read it carefully for the macro-analysis. Then take steps to prepare.
Get out of stocks (except quality metals and commodities), bonds and into precious metals and their stocks. Take delivery of actual metals and shares. Stay away from ETFs (see Chapman's article for a summary of our they're used to suppress the metals prices). Keep cash in small bills at home. Buy at least a 2-3 month supply of food. Even more is better. Don't put it off. Procrastination literally kills.
As Chapman warns, "Detach yourself from the Matrix, or get reamed."
___________________________________________________
True story. Last weekend I bumped into a banker friend. Here's a short version of our quick conversation:
PD: "The worldwide financial system seems to be broken. Everyone but Americans seem to know it."
Banker: "Yep. It's de ja vu all over again."
PD: "But we've never seen this before, have we?"
Banker: "That's right."
PD: "Calling our financial crisis a 'sub-prime crisis' just names the tip of the iceberg."
Banker: "No one knows how deep it goes."
____________________________________________________
Meanwhile, the stock market plunged over 200 points today until the Plunge Protection Team (PPT) went to work. Gold jumped $15 before the PPT went to work. It is still up $6.00.
Doug Casey provides an interesting graph showing how hyperinflation wiped out the Yugoslavian currency in the early 1990's. At its height in 1993, retail prices were inflating at a rate of 2% per hour. Today, inflation is surging through the global economy as never before.
____________________________________________________
Does anyone besides Big Agriculture and their lobbyists think ethanol is still a good idea? A confidential secret report by the World Bank indicates that 75% of the recent rise in global food prices is due to the mandates use of biofuels to combat global warming. Many think a 10% ethanol blend reduces gas mileage by 8-10%. It is subsidized and additional energy is needed to process it. 2-stroke engines are having lots of problems with it. Why is there no outcry to stop this little bit of madness?
___________________________________________________
Patrick Buchanan points out that all our saber-rattling against Iran drove oil prices up another $11 a barrel, translating "into $143 million more sucked out of the U.S. economy every day – into the coffers of Canada, Mexico, Venezuela, Saudi Arabia, and OPEC." Peter Casey says that the IAEA reports do NOT point to Iran being close to developing a rudimentary nuke, nor that they are even trying.
After watching what happend to North Korea (with nukes) and Iraq (without them), who could blame them if they wanted them, too? And yet Congress continues the march to war being led by the nose by AIPAC. Are we insane? If we don't like the results of the Iraq war, we'll hate the one with Iran.
Get out of stocks (except quality metals and commodities), bonds and into precious metals and their stocks. Take delivery of actual metals and shares. Stay away from ETFs (see Chapman's article for a summary of our they're used to suppress the metals prices). Keep cash in small bills at home. Buy at least a 2-3 month supply of food. Even more is better. Don't put it off. Procrastination literally kills.
As Chapman warns, "Detach yourself from the Matrix, or get reamed."
___________________________________________________
True story. Last weekend I bumped into a banker friend. Here's a short version of our quick conversation:
PD: "The worldwide financial system seems to be broken. Everyone but Americans seem to know it."
Banker: "Yep. It's de ja vu all over again."
PD: "But we've never seen this before, have we?"
Banker: "That's right."
PD: "Calling our financial crisis a 'sub-prime crisis' just names the tip of the iceberg."
Banker: "No one knows how deep it goes."
____________________________________________________
Meanwhile, the stock market plunged over 200 points today until the Plunge Protection Team (PPT) went to work. Gold jumped $15 before the PPT went to work. It is still up $6.00.
Doug Casey provides an interesting graph showing how hyperinflation wiped out the Yugoslavian currency in the early 1990's. At its height in 1993, retail prices were inflating at a rate of 2% per hour. Today, inflation is surging through the global economy as never before.
____________________________________________________
Does anyone besides Big Agriculture and their lobbyists think ethanol is still a good idea? A confidential secret report by the World Bank indicates that 75% of the recent rise in global food prices is due to the mandates use of biofuels to combat global warming. Many think a 10% ethanol blend reduces gas mileage by 8-10%. It is subsidized and additional energy is needed to process it. 2-stroke engines are having lots of problems with it. Why is there no outcry to stop this little bit of madness?
___________________________________________________
Patrick Buchanan points out that all our saber-rattling against Iran drove oil prices up another $11 a barrel, translating "into $143 million more sucked out of the U.S. economy every day – into the coffers of Canada, Mexico, Venezuela, Saudi Arabia, and OPEC." Peter Casey says that the IAEA reports do NOT point to Iran being close to developing a rudimentary nuke, nor that they are even trying.
After watching what happend to North Korea (with nukes) and Iraq (without them), who could blame them if they wanted them, too? And yet Congress continues the march to war being led by the nose by AIPAC. Are we insane? If we don't like the results of the Iraq war, we'll hate the one with Iran.
Wednesday, July 9, 2008
More Treacherous Economic Signposts
David McAlvaney's latest podcast is out. As usual, the analysis is not optimistic. We're already in an under-reported US and worldwide financial crisis. Everyone in the world but Americans realize the financial system is broken. Crooks abound, and trust has disappeared. The Fed and US financial media are trying to hold everything up with spin and false statistics. Believe it at your own risk.
There is a high likelihood that the US stock market will crash by mid-fall. That's on top of the slide over the last 7 years. The US is in recession, and inflation is picking up. If Obama wins the election (likely right now), his first 100 days will be like FDR's. Higher taxes and more regulation supposed to alleviate our financial crisis will deal a devastating blow.
The McAlvaneys just put out a new 2-hour DVD with their current geo-political and economic analysis, "When Greed Turns to Fear: How to Protect Your Portfolios from the Day of Panic." Ask for a free copy and the latest printed newsletter. Call Rob at 800-525-9556, Ext 101.
Meanwhile Gary North writes about his pick for the worst-case economic scenario over the next 6-12 months. He analyses the ramifications of an attack by Israel and/or the US on Iran, both in terms of $10+ a gallon gasoline and the resulting permanent war with Shia insurgents in Iraq. He suggests you plan accordingly.
Jacob Hornberger points out that "Americans Had It Coming." Higher prices for gasoline, food and most other things are the price of empire and imperial adventurism. Our ill-fated invasions of Iraq and Afghanistan have become "black holes of federal expenditures," instead of the self-funding cakewalks the NeoCons promised. Rather than raise taxes to pay for the $535 Billion cost of these wars, the government borrowed the money from the Chinese. "Well, what did Americans think — that empires come cheap?"
[Do you remember Secretary of Defense Donald Rumsfeld breaking the news on Sept. 10, 2001 that the Pentagon could not account for $2.3 TRILLION in funds? They disappeared just like countless billions in Iraq that can't be found. An event the next day swept this news out of the public's mind. Whatever hit the Pentagon just happened to wipe out the accounting section that had all the records. What a coincidence! For some reason, not another word was said about the missing TRILLIONS.]
If you didn't read last week's post "Treacherous Economic Signposts," now is a good time to do it. You might even want to review it if you did. There are so many daily distractions that it is hard to keep focused on dark storm moving in on the horizon.
I keep mentioning these financial problems because now is NOT the time for complacency. Things really are different this time. This is not going to "somehow" work itself out. Get your money out of the stock market, buy gold, silver and food, and take what other precautions necessary to protect you and your family.
There is a high likelihood that the US stock market will crash by mid-fall. That's on top of the slide over the last 7 years. The US is in recession, and inflation is picking up. If Obama wins the election (likely right now), his first 100 days will be like FDR's. Higher taxes and more regulation supposed to alleviate our financial crisis will deal a devastating blow.
The McAlvaneys just put out a new 2-hour DVD with their current geo-political and economic analysis, "When Greed Turns to Fear: How to Protect Your Portfolios from the Day of Panic." Ask for a free copy and the latest printed newsletter. Call Rob at 800-525-9556, Ext 101.
Meanwhile Gary North writes about his pick for the worst-case economic scenario over the next 6-12 months. He analyses the ramifications of an attack by Israel and/or the US on Iran, both in terms of $10+ a gallon gasoline and the resulting permanent war with Shia insurgents in Iraq. He suggests you plan accordingly.
Jacob Hornberger points out that "Americans Had It Coming." Higher prices for gasoline, food and most other things are the price of empire and imperial adventurism. Our ill-fated invasions of Iraq and Afghanistan have become "black holes of federal expenditures," instead of the self-funding cakewalks the NeoCons promised. Rather than raise taxes to pay for the $535 Billion cost of these wars, the government borrowed the money from the Chinese. "Well, what did Americans think — that empires come cheap?"
[Do you remember Secretary of Defense Donald Rumsfeld breaking the news on Sept. 10, 2001 that the Pentagon could not account for $2.3 TRILLION in funds? They disappeared just like countless billions in Iraq that can't be found. An event the next day swept this news out of the public's mind. Whatever hit the Pentagon just happened to wipe out the accounting section that had all the records. What a coincidence! For some reason, not another word was said about the missing TRILLIONS.]
If you didn't read last week's post "Treacherous Economic Signposts," now is a good time to do it. You might even want to review it if you did. There are so many daily distractions that it is hard to keep focused on dark storm moving in on the horizon.
I keep mentioning these financial problems because now is NOT the time for complacency. Things really are different this time. This is not going to "somehow" work itself out. Get your money out of the stock market, buy gold, silver and food, and take what other precautions necessary to protect you and your family.
Tuesday, July 1, 2008
Depression Watch
I’ve been watching the economy’s ups and downs since the early 70’s. Many think a financial “perfect storm” is coming soon. Ominous economic signs abound, while optimism is hard to find. There’s too much to post all at once. I’ll just share some as we go. The prudent thing to do is to get your house in order, and don’t get trapped by the falling dollar.
Government economists stepped up their lying about the real rate of inflation during the Clinton years. This was to keep from paying those on inflation-indexed payments like Social Security from getting so much money. So the government introduced the concept of “core inflation,” that excluded such minor items as food, energy and housing from their measure of general prices. And the stenographers from the Lame Stream Media dutifully report their figures with straight faces month after month.
Too few Americans still understand what Richard Russell calls The Federal Reserve Racket. One of the reasons Ron Paul was either ignored or ridiculed during his campaign was his call for abolishing the Federal Reserve and returning to the stability of Constitutional money. The simple fact is that when the Fed creates money out of thin air, the value of all currency is debased. That’s inflation. If the government’s central bank does it, it is legal. If you or I do it, it is counterfeiting. But the result is the same.
Since most people hate paying taxes, the Cheney-Bush administration has paid for its wars of choice in the Middle East the same way the Vietnam War was financed – with borrowed money, which produces inflation. Devaluing a currency is just another form of tax that hits people on fixed and low incomes the most.
What we currently see in America is “stagflation.” The economy is stagnating into recession, while inflation is rapidly increasing. Continued inflation, with government bungling like price controls, higher tariffs, rationing and what other futile measures the political class takes while ignoring the causes of the problem, will only make things worse. The result will be a Depression as bad as the 1930, with the destruction of the middle class. One analyst says inflation is unleashing a global financial tsunami. I wish I could prove him wrong.
“The Dow-Crash, The Dollar, Gold, and WAR!” says it all in the title. You don’t have to be a financial guru or technical analysis expert to understand the simple charts. The Dow crashed through its eight-year support level. Gold has broken out to the upside from its consolidation decline since its all-time high in March. Iran may have sealed its fate by going off the petrodollar standard (just like Iraq did prior to that war). The author has some interesting things to say about the Euro moving into worldwide preeminence, as the globalist insiders want the United States (and its citizens’ bothersome concerns about individual liberty) to move into second-class status.
Gold is still the currency of peace. Better get some at today’s bargain prices. Protect your financial future. The dollar has a long-way yet to fall. If you want to put gold or silver coins into your IRA check out the Self-Directed IRA services for precious metals at Sterling Trust. It’s easy to do.
As inflation shows up in higher prices for energy, food and raw materials, and demand drops for other items because of less discretionary income, the US economy sinks along with the US dollar and stock market.
Not only are the big automakers shutting down production lines and plants. So are many of America’s top retail chain stores. Can the impact on be any less on all the independent mom and pop stores? Here’s the list:
(01) 84 Lumber is closing 12 stores
(02) Ann Taylor is closing 117 stores.
(03) Big Dollar is closing 10 stores after having been around for 21 years - so even dollar stores are closing.
(04) Bombay Company is closing all 384 U.S. stores.
(05) Cache, the women's retailer, is closing 20 to 23 stores.
(06) CompUSA is closing 128 stores.
(07) Dell is closing 140 stores.
(08) Dillard's is closing under-performing stores
(09) Disney Stores is possibly closing 98 stores.
(10) Eddie Bauer has closed 27 shops and is going to close more.
(11) Ethan Allen Interiors closing 12 stores.
(12) Foot Locker is closing 140 stores
(13) Friedman's Jewelers is closing 120 stores according to one report and 473 stores according to another as it goes through bankruptcy proceedings.
(14) Gap Inc. is closing 85 stores including Old Navy and Banana Republic stores.
(15) Home Depot is closing 15 stores.
(16) Jasmine Sola is closing 23 stores
(17) J. C. Penney is scaling back
(18) KB Toys is closing 356 stores as part of its bankruptcy
(19) Kirkland's is closing 30 to 130 stores
(20) Lane Bryant, Fashion Bug, and Catherine’s, members of a consortium, are closing 150 stores.
(21) Levitz Furniture is closing all 76 stores and going out of business
(22) Lillian Vernon the Internet Marketer is closing down and filing for bankruptcy - so don't think that area is impervious.
(23) Linens 'n Things is closing 120 stores
(24) Lonestar Steakhouse is closing 27 stores
(25) Lowe's is scaling back.
(26) Macy's is closing 9 stores. They say they plan to open other stores - but a lot of those closing try to put on an optimistic face for stock and other reasons.
(27) Movie Gallery is closing 160 stores
(28) Office Depot is scaling back
(29) Pacific Sunwear is closing 154 stores
(30) Pep Boys is closing 33 stores
(31) Pier 1 Imports has closed 79 stores and is closing another 25
(32) Piercing Pagoda is closing 82 stores
(33) Rite Aid is closing 28 stores
(34) Saks is closing 1 store
(35) Sofa Express is closing 44 stores
(36) Sharper Image is filing for bankruptcy and is closing 90 stores.
(37) Sprint Nextel Corp. is closing 125 stores. This will mean 4000 more job losses on top of the 5,000 last year.
(38) Talbot's & Sigrid Olsen is closing all 78 of its kids and men's stores plus another 22 of its female stores.
(39) Urban Interiors is closing 2 stores.
(40) Wicke’s Furniture is closing all 38 stores. They have been around for 37 years. Called the canary in the cave for this recession. They are in bankruptcy.
(41) Wilson’s the Leather Experts is closing 160 stores
(42) Zale’s is closing 105 stores
Government economists stepped up their lying about the real rate of inflation during the Clinton years. This was to keep from paying those on inflation-indexed payments like Social Security from getting so much money. So the government introduced the concept of “core inflation,” that excluded such minor items as food, energy and housing from their measure of general prices. And the stenographers from the Lame Stream Media dutifully report their figures with straight faces month after month.
Too few Americans still understand what Richard Russell calls The Federal Reserve Racket. One of the reasons Ron Paul was either ignored or ridiculed during his campaign was his call for abolishing the Federal Reserve and returning to the stability of Constitutional money. The simple fact is that when the Fed creates money out of thin air, the value of all currency is debased. That’s inflation. If the government’s central bank does it, it is legal. If you or I do it, it is counterfeiting. But the result is the same.
Since most people hate paying taxes, the Cheney-Bush administration has paid for its wars of choice in the Middle East the same way the Vietnam War was financed – with borrowed money, which produces inflation. Devaluing a currency is just another form of tax that hits people on fixed and low incomes the most.
What we currently see in America is “stagflation.” The economy is stagnating into recession, while inflation is rapidly increasing. Continued inflation, with government bungling like price controls, higher tariffs, rationing and what other futile measures the political class takes while ignoring the causes of the problem, will only make things worse. The result will be a Depression as bad as the 1930, with the destruction of the middle class. One analyst says inflation is unleashing a global financial tsunami. I wish I could prove him wrong.
“The Dow-Crash, The Dollar, Gold, and WAR!” says it all in the title. You don’t have to be a financial guru or technical analysis expert to understand the simple charts. The Dow crashed through its eight-year support level. Gold has broken out to the upside from its consolidation decline since its all-time high in March. Iran may have sealed its fate by going off the petrodollar standard (just like Iraq did prior to that war). The author has some interesting things to say about the Euro moving into worldwide preeminence, as the globalist insiders want the United States (and its citizens’ bothersome concerns about individual liberty) to move into second-class status.
Gold is still the currency of peace. Better get some at today’s bargain prices. Protect your financial future. The dollar has a long-way yet to fall. If you want to put gold or silver coins into your IRA check out the Self-Directed IRA services for precious metals at Sterling Trust. It’s easy to do.
As inflation shows up in higher prices for energy, food and raw materials, and demand drops for other items because of less discretionary income, the US economy sinks along with the US dollar and stock market.
Not only are the big automakers shutting down production lines and plants. So are many of America’s top retail chain stores. Can the impact on be any less on all the independent mom and pop stores? Here’s the list:
(01) 84 Lumber is closing 12 stores
(02) Ann Taylor is closing 117 stores.
(03) Big Dollar is closing 10 stores after having been around for 21 years - so even dollar stores are closing.
(04) Bombay Company is closing all 384 U.S. stores.
(05) Cache, the women's retailer, is closing 20 to 23 stores.
(06) CompUSA is closing 128 stores.
(07) Dell is closing 140 stores.
(08) Dillard's is closing under-performing stores
(09) Disney Stores is possibly closing 98 stores.
(10) Eddie Bauer has closed 27 shops and is going to close more.
(11) Ethan Allen Interiors closing 12 stores.
(12) Foot Locker is closing 140 stores
(13) Friedman's Jewelers is closing 120 stores according to one report and 473 stores according to another as it goes through bankruptcy proceedings.
(14) Gap Inc. is closing 85 stores including Old Navy and Banana Republic stores.
(15) Home Depot is closing 15 stores.
(16) Jasmine Sola is closing 23 stores
(17) J. C. Penney is scaling back
(18) KB Toys is closing 356 stores as part of its bankruptcy
(19) Kirkland's is closing 30 to 130 stores
(20) Lane Bryant, Fashion Bug, and Catherine’s, members of a consortium, are closing 150 stores.
(21) Levitz Furniture is closing all 76 stores and going out of business
(22) Lillian Vernon the Internet Marketer is closing down and filing for bankruptcy - so don't think that area is impervious.
(23) Linens 'n Things is closing 120 stores
(24) Lonestar Steakhouse is closing 27 stores
(25) Lowe's is scaling back.
(26) Macy's is closing 9 stores. They say they plan to open other stores - but a lot of those closing try to put on an optimistic face for stock and other reasons.
(27) Movie Gallery is closing 160 stores
(28) Office Depot is scaling back
(29) Pacific Sunwear is closing 154 stores
(30) Pep Boys is closing 33 stores
(31) Pier 1 Imports has closed 79 stores and is closing another 25
(32) Piercing Pagoda is closing 82 stores
(33) Rite Aid is closing 28 stores
(34) Saks is closing 1 store
(35) Sofa Express is closing 44 stores
(36) Sharper Image is filing for bankruptcy and is closing 90 stores.
(37) Sprint Nextel Corp. is closing 125 stores. This will mean 4000 more job losses on top of the 5,000 last year.
(38) Talbot's & Sigrid Olsen is closing all 78 of its kids and men's stores plus another 22 of its female stores.
(39) Urban Interiors is closing 2 stores.
(40) Wicke’s Furniture is closing all 38 stores. They have been around for 37 years. Called the canary in the cave for this recession. They are in bankruptcy.
(41) Wilson’s the Leather Experts is closing 160 stores
(42) Zale’s is closing 105 stores
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