Posted on 12/07/2008 11:27:38 AM PST by slnk_rules
My post #40 isn’t bad for an ameteur
You will be interested in this blog on the subject of gold backwardization:
http://globaleconomicanalysis.blogspot.com/
And this is from a guy who owns some gold.
Sure there is. You may not find much of the retail gold (coins, small bars, etc) but if you have the big $$ to pony up for the industrial sized bars of gold there’s no delivery issues to date.
I am betting u are right, but one thing I have learned is that you NEVER know what you think you know re: markets. It is the world’s biggest sleuth/discovery puzzle.
Thank you for your kind posts/comments.
I had to smile and nod. I dunno on this particular case, but when asked over the years about various schemes and conspiracies I always say "when faced with an explanation of conspiracy or bungling government bureaucrats, vote bungling every time."
You may be right, and I hope you are. I hope I pass down all my gold and silver to my grandchildren and never need it.
James Sinclair has been around for a while and is a top physical gold advocate. http://www.jsmineset.com/
Here is what's on his website today--->>>
41 US States Face Bankruptcy In 2009
A recent study by The Center on Budget and Policy Priorities revealed that 41 states are facing severe budget shortfalls for 2009. Some states are worse off than others, with California ($31.7 billion) and Florida ($5.1 billion) leading the deficit pack. In all, the 41 states are currently facing a $71.9 billion budget shortfall. The key word here is “currently,” since a similar study was conducted by the same group only three months earlier, at which time “only” 29 states were predicted to face shortfalls of a “mere” $48 billion. As the recession deepens, so will the state’s budget problems, turning this “budget crisis” into a humanitarian disaster. Projections have already been made for a $200 billion shortfall by 2010.
These deficits have already transcended the computer screen of the statistician into real suffering of the most vulnerable sections of society. In dozens of states across the country, vital services are being cut to the elderly, disabled, the poor, and recently unemployed. Teachers are being cut from schools and tuitions are rising. Workers from state construction sites are being laid off, while social service employees suffer a similar fate. Non profits are closing their doors.
Most likely, these pains only mark the beginning. Many states have a “rainy day fund” of some kind that they use to plan for such crises. These funds are already depleted, or certain to dry up quickly, with “hard decisions” now having to be made. This is especially troubling when one considers that, in many cases, state cutbacks made from the 2001 recession remained in place. Not to mention that successive presidents have successfully plundered federal social programs. The new, extraordinary state budgets that are being drawn up to address the current deficit crisis will essentially destroy the social safety net for millions of people, including access to daycare, food stamps, welfare, and basic medical services. The fact that the federal budget is in even worse shape, and will likely choose to follow a similar route of massive cuts, makes future predictions of social calamity all but certain.
The options available to states to respond to budget crises are limited since states are not allowed to run deficits; they must solve their budget problems immediately. Nearly every state government is reacting to the crisis in essentially the same way: by cutting essential services and raising “secondary” taxes (alcohol, cigarettes, gas, etc). In reality, after spending their reserve funds, states have only two viable options: cutting spending and raising taxes.
Yes, if you have $25,000, you can get gold at a reasonable price. It’s hard to make change, of course.
>>“Government Nipple” would be a great name for a rock band
“The Teets of Tyranny”
ping for later
You are correct in your analysis of where the world is going. But...that farm strategy didn't work out too well for Rhodesian farmers. Security on a farm depends on a stable constitutional government to protect property rights. If a thousand of these refuges want your farm and decide to rush the place and occupy it, then you'll have some mighty fancy shooting to do. I think its better to beef up our state and local governments with CONSERVATIVE term-limited representatives who will work to protect all of us against this sort of disaster. We can come together to protect ourselves like the Swiss. They are not worried about these issues because they take care of themselves and they are sitting on a pile of gold!
EEEEE Gads! The world is coming to an end!!! the NEA is suffering layoffs!!! Oh, the horrors! The HORRORS!
Does anyone have the list of the 9 states that seem to be able to manage their economies? I'd like to move to one of them.
It is amazing how these "Harvard MBAs" always seem to destroy everything they get involved in! Why can't gold contracts be unleveraged? Why can't there be a law that says you have to OWN something before you can sell it to someone else? Who dreams up these leveraged structures? Worse, who believes these leveraged structures to begin with?
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