Posted on 10/14/2010 9:55:49 AM PDT by bolobaby
The recent silver price action has me spooked. I've been telling friends and family that if silver breaks $24, that's a bad omen. I base this on the fact that the 30 year high was in the 23s and I expected silver to meet strong resistance just shy of $24.
In the earlier morning hours, silver nearly teased $25. It's fallen since then, but it *has* broken the $24 barrier with a fair amount of confidence.
So, given that, the prospect of QE2, the continued dollar drop, ridiculously low bond yields, etc, etc...
How close are we to economic collapse? Who wants to make a prediction?
As long as NCAA football and NFL season is not cancelled the clueless sheep will be happy. As long as they have TV they will be happy slaves
Cancel the elections - big trouble
Cancel ‘dancing with the stars’ and there will be rioting in the streets. Blood on every corner. Mass violence.
It's happening now. I posted this a couple of days ago. If you google the word "pension", you will see even more stories today.
1. US Cities Face Half a Trillion Dollars of Pension Deficits
2. What O'Malley, Ehrlich say about fixing pensions
3. Record retirements stress New Jersey state pension system
4. The First 10 City Pensions That Will Run Out Of Money
5. Municipal Pension Tabs Average $15,000 Per Household
6. Bloomberg Administration Takes on Pensions
7. UK reported to have the biggest pension deficit in Europe
8. Ventura city workers protest calls to pay more for rising retirement costs
10. Ed Miliband warns unions against pension reform strikes
I posted these concerning sovereign debt.
1. Digging Down on The 800 Pound Debt Gorilla
2. Ties and tensions between China and the U.S
That is what I think. also. When it is to their advantage in pursuing world domination it will happen. If they can accomplish that without a collapse some time soon a collapse may be avoided. It would do us much good, though.
If the collapse comes in the next few weeks, they may have to cancel the elections ...
That may be the way they make it happen. The treat of a collapse may be all they need after they have set the stage the way they have with TARP and the take overs of GM, Chrysler, banks, etc.
I see it as a “House of Cards”. You can keep tinkering with it, but you never know when the slightest bump or change will cause the whole thing to collapse. You can’t control the collapse, you just pick up the pieces ans start over building another.
I have been telling my family since the health care push through that I would not be surprised if Obama had no intentions of holding elections in November. I am not a conspiracy theorist and I do think the elections will go on, but I still would not be totally shocked. If he cancels the elections and the military stands behind him, he has in effect crowned himself king, correct?
I don't believe there is any way the military would stand behind him.
Define “collapse.”
Even if he pays them off?
CPA and speaker Larry Burkett has been predicting a debt caused collapse since 1988. He won’t be around to see it though since he died in the late 90’s
That was an artifical spike that was not related to the “chitty” economy as much as the illegal silver play from the Hunt Brothers. If you read up on it a bit you’ll find out that they got a bit of press over the issue.
I don't think The American people would allow him to get away with it. I know that I won't sit idly by.
This is especially true now that active trading is concentrated daily among a handful of players, including the Federal Reserve Bank of New York, whose permanent open market operations (POMO) have snapped up stocks and Treasury bonds that others do not care to own for any length of time.
Let this settle in for a moment. The narrowness of the market and the full investment of our government in moving prices ever-upward and interest rates downward makes either fundamental or technical analysis a useless exercise in trying to read tea leaves... in a full gale. My advice: stay out of it; all of it. If you must buy something, buy water, canned food, fuel, paper products, copper, brass and lead.
It would be National Guard so it would vary by location. Wasn't it the Japanese emperor who said you could never invade the US because there is a gun behind every blade of grass? Same principle. Some areas would submit, like San Francisco. Some areas, the National Guard would refuse to enforce unconstitutional orders, like much of the South.
Regardless, it would be very dicey.
Too true. As long as people watch TV - the elites/Dems and Islam win.
Silver and gold are pure speculative bets. You can’t eat, live in or wear silver and gold, other than jewelry.
The question you need to ask yourself is this. If the dollar really crashed, what would be the currency? What on earth is really of value to a human in an economy and or societal collapse?
Food, clothing, shelter, land, etc..
Guns and butter my friend, guns and butter.
Swords, shields, and sailboats. Guns will be nice at first, but the bullets won’t last but so long.
I'm kind of curious Frantzie, is this hatred of TV driven by religion or something. You come across as if the drought is all TV's fault.
TV is a tool. How that tool is used determines whether it has a good result or a poor one. Kind of like a gun.
I recall the 30-year high for silver was in the neighborhood of $50 for a short time as a result of the Hunt brothers trying to corner the market. That price was artificial due to such manipulation and so it came down pretty fast. If you consider how much value the dollar has lost since then due to inflation, silver in the mid 20’s probably is still reasonable and likely to go up, because our dollar looks to be going down, waaaayyyyy down. I don’t believe any really terrible news will emerge until after the elections. Can’t be spooking the gullible voters, you know. You don’t need to load the truck just yet, but you should be planning where to go and what “bug-out” provisions to take with you. I put a trailer on 12 acres in the boonies 100 miles from any major city - that’s where I’ll go if the cities boil over.
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