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2009: Another Year of Shock and Awe
safe haven ^ | Doug Casey

Posted on 02/11/2009 8:04:37 PM PST by databoss

In their annual forecast edition, the editors of BIG GOLD asked Casey Research Chairman and contrarian investor Doug Casey to provide his predictions and thoughts on issues everyone's thinking about these days. Read what he has to say on the economy, deficits, inflation, and gold...

The $1.1 Trillion Budget Deficit

My reaction is that the people in the government are totally out of control. A poker player would say the government is "on tilt," placing wild, desperate bets in the hope of getting rescued by good luck.

The things they're doing are not only unproductive, they're the exact opposite of what should be done. The country got into this mess by living beyond its means for more than a generation. That's the message from the debt that's burdening so many individuals; debt is proof that you're living above your means. The solution is for people to significantly reduce their standard of living for a while and start building capital. That's what saving is about, producing more than you consume. The government creating funny money - money out of nothing - doesn't fix anything. All it does is prolong the problem and make it worse by destroying the currency.

Over several generations, huge distortions and misallocations

(Excerpt) Read more at safehaven.com ...


TOPICS: Business/Economy
KEYWORDS: 2009predictions; cwii; economy; obamatruthfile; pokulus

1 posted on 02/11/2009 8:04:37 PM PST by databoss
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To: databoss
I was into gold before it was fashionable. Bought gold @ $265 in 1999.

Then I learned that the government has called in all bullion twice in the past. And I began to wonder:

"If gold is such a great deal and so wonderful to hold, why are these dealers even taking these worthless FRNs for it. After all, they say it's the ultimate store of wealth"

In a total collapse, gold wouldn't be as useful as silver. And in a currency change over, gold would surely be called in by whatever government was in power. SO unless you are willing to bury your gold bullion long term and wait for it to be legal to own again, I'd say stick to silver.

Besides, it's an antibiotic currency in the event of a bio contamination event. JMHO

2 posted on 02/11/2009 8:28:24 PM PST by Obamageddon (Birth certificate and college transcripts will be required for Federal employment, Mr. Soetero)
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To: databoss

>My reaction is that the people in the government are totally out of control. A poker player would say the government is “on tilt,” placing wild, desperate bets in the hope of getting rescued by good luck

That’s a good description. Maybe they have to be violently torn away from the machine.


3 posted on 02/11/2009 8:48:30 PM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: OneWingedShark
"Maybe they have to be violently torn away from the machine."

Let's do it.

I've instructed people to locate where their politicians live now so that when the depression arrives, they'll know where to go get some of our money back. The poiticians will be home living high on the hog (with your money) while you and your family starves. (I plan to invite myself to dinner, ahem)

4 posted on 02/11/2009 8:54:45 PM PST by blam
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To: JasonC
First of all, deflation is a good thing. Its bad reputation is just one of the serious misunderstandings that most people have. In deflation, your money becomes worth more every year. It's a good thing because it encourages people to save, it encourages thrift.

Ping!

5 posted on 02/12/2009 1:23:07 AM PST by palmer (Some third party malcontents don't like Palin because she is a true conservative)
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To: Obamageddon; All

Related:

Gerald Celente on Glenn Beck: 2/14/09 (Director, Trends Research Institute) on the predicted greatest depression

http://www.youtube.com/watch?v=SiN1wndDsIo


6 posted on 02/15/2009 1:11:45 PM PST by STARWISE ( They (LIBS-STILL) think of this WOT as Bush's war, not America's war- Richard Miniter))
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To: penelopesire; BulletBobCo; seekthetruth; Kevmo; gunnyg; television is just wrong; jcsjcm; BP2; ...

~~PING!


7 posted on 02/15/2009 1:12:29 PM PST by STARWISE ( They (LIBS-STILL) think of this WOT as Bush's war, not America's war- Richard Miniter))
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To: Obamageddon

coins (eagles or junk) or bars?


8 posted on 02/17/2009 9:16:04 AM PST by tyou48
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To: Obamageddon

F. Roosevelt was one confiscation. When was the other?


9 posted on 02/17/2009 9:17:24 AM PST by tyou48
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To: blam
I've instructed people to locate where their politicians live now

Hehehehehe....

L

10 posted on 02/17/2009 9:18:26 AM PST by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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