Posted on 02/04/2010 9:58:02 AM PST by blam
WHAT JUST HAPPENED WITH GOLD?
Joe Weisenthal
Feb. 4, 2010, 10:37 AM
Once again, gold proves to be no defense against chaos. Look what just happened:
[snip]
(Excerpt) Read more at businessinsider.com ...
I’m dead serious, I LOVE reloading, find it very relaxing - although I don’t go to the lengths you do! I do clean the brass, check length, hand-weigh each load, etc. I’ve found loads that work for the calibers I use and stick with them - don’t experiment very much. Do very little target shooting except for pistol, and I don’t even reload pistol ammo - just have a few favorite factory loads for self defense. Will settle for the cheaper stuff for plinking although I’m off of Wolf ammo - very suspect QC, too many fliers. Couldn’t be me!! lol
Silver doesn’t make good bullets, unfortunately. Too hard in a rifled barrel. Tends to deform and come out squirrely. Will work at close range tho. Make sure the vampires and werewolves are real close. Or make shot and use in your shotgun. Chain works pretty well in a shotshell at close range too.
But with lead , I can take all your gold .
>>”But with lead, I can take all your gold.”<<
Enlisting in such a foolhardy act would be met with fierce resistance and would sadly end in your demise.
On February 1, 2010, President Obama presented his fiscal year 2011 national budget.
Since all the bad housing paper is being off-loaded into Fannie and Freddie, they were excluded from this new budget.Further, those two money-debt monsters have an open checkbook for the next three years to keep buying bad mortgages.
The new budget is $3.8 Trillion US dollars and demands $1.9 Trillion in brand new taxes on the rich and on wealthy businesses.
News like this makes me wish I had money to buy MORE silver.
Not my fault. It was that way before I got here.
Imagine if not homeowners, but builders in the US had $4.2 trillion in debt against their unsold subdivisions...
That is a manageable overall scale, still. But whether their banks, government, and the broader authorities of the larger EU bloc, deal with any of it rationally, that remains to be seen. The right thing to do is to simply allocate the loss without delay, recapitalize impaired Spanish banks, and sell off the property underneath in RTC fashion, over something like the next five years. To fund all of that, the Spanish government is going to need to borrow more rather than less. And with the credit markets as they are, they are going to need IMF style austerity measures to float that debt.
The trigger for this whole latest round, by the way, was a failed Portugese government bill auction yesterday. They wanted to sell 500 million Euros in short term bills. Only 300 million were actually taken up, despite large concessions on the yield. Credit swaps on all the peripheral European countries jumped on that news...
If the collapse is that bad that the gubbermint comes after your gold/silver, you should realize the situation will be extreme enough that you may very well be defending all of your property, not just the metals, with force of arms.
Bet on this: in less than 24 months we are going to see currency controls in this country. i.e. you will not be allowed to move your assets out of the US.
I would use stealth!
As for New York stuff, there it is a different story IMO. The rent control laws are flat crazy and anybody who owns rental residential real estate in New York City is asking to be robbed by communists. It has precious little to do with real estate conditions anywhere else.
As for the scarcely moral advisors telling people to walk, if they just gave the house to the bank as contracted, I'd say "fine". (Does mean name is mud for years and rightly so). But instead, the whining losers run to the gubmint and demand to be allowed to stay without paying, or they just live there for a year in default before the sheriff shows up, or some populist idiot flat won't, or they sabotage houses they can't afford and no longer own, or...
In short the supposedly sainted and victimized American mortgage defaulter on mainstreet is often a piece of horse excrement, and all my sympathies are with their much abused creditors.
Okay. Now I have to go spend hard-earned money on a new stealth detector! lol.
All your gold belong to me. I have a cloaking device .
RobRoy,
I believe the greater danger is deflation.
Commodities and real estate will suffer.
My view on real estate pricing is that whatever
a home was worth in 2000, it will see again before
this is over. We are considering selling our home
right now, since we have substantial equity.
If there are more dollars worth less, each
will have less buying power.
I may be wrong. Or not.
Good luck,
ampu
Damn it! You win, now I have to move and change my screen name.
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