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sorgmot
98 Comments
General Discussion on GLD
Elliott Wave graphs are meeting forecasts of a downtrend to 4000or lower on the DJIA by early 1010. The first leg has dropped from 14000 t0 8000 and looks like it will go lower now based on the structure of the down leg so far.
The world is over levered more and more as the collapse progresses. Debtors are going out of business and equity balances are going to zero. The Wall street boys and girls have repeated the Ponzi schemes of the 1920's yet thousands of times bigger.
The end game is a total washout and debtor take over for a fire sale. It takes decades to end the mess and massive loses to all parties.
Governments did not act when they should have and have lost the last shreds of respect from those they govern. Socialism is in collapse.
What about the price of gold in US $ terms? Governments will need a new currency which is respected and allows the repudiation of existing currency denominated debt.
Why not gold at $4000,00 per once. Alas, perhaps another round of confiscation.
Gold: Only Physical Asset That Isn't Deflating
The railroad binge from 1840 to 1870 was followed by a major international financial collapse in asset prices lasting to 1900.
The auto and highway binge from 1905 to 1930 died in the financial collapse ot the 1930's.
The house building binge from 1950 to 2005 is now in its death throws which should last until 2020 at leasts.
Each binge explodes the use of borrowed money during the expansion phase and an inplosion of the money supply in the contraction that follows.
2008 is the first year of current binge cycle's money implosion. The money implosion under way is international and global and in many currencies.
As of October 2008, many countries and currencies are suffering a cedit crisis (you can't get your hands on enough to pay money withdrawals if you are a bank or your bills if you are a citizen). Bank withdrawals are exploding as deposiitors pay bills in excess of their earning or simply withdraw money to put it in a safer use for fear that the bank will fail.
As of October 2008, citizens and banks face a liquidity crisis that is forcing asset prices down in currency terms. The US $ is appreaciation against all other assets like cars, houses, stocks, since they must be sold to get enough money for the mortgage or clothes or food.
Citizens are retrenching as fast as they can and more and more are throwing houses and other assets like stocks and pension funds onto the market to raise money to buy food.
Stock markets are collapsing as are retail sales as are used car prices as are the number of jobs.
Loan defaults increase so that banks keep on loosing the ability to loan becouse cash infowes decline.
The vishouse cycle accelerates.
Elected officials respond to their patron in the cartels and monopolies and not the citizens. They could send money to the public and reduce taxes to help citizens. They do not. Tax proceedes are already falling and the pols want more perks for themselves from the cartels and monopolies they maintain..
What next?
Banks closee branches and lay off employees by the hundreds of thousands. Lack of sales forces non-bank businesses to shut down and lay of more hundreds of thousands. By the time all the defaults are in there is mass economic weckage and complete collapse in living standards.
Good luck
Our Coming Depression
As politicians and their colleges in governmental administrative bureaus and regulatory branches are corrupted by the cartels and monopolies they create. All governments are monopolies and only governments can grant and enforce monopolies in the private sector. The first monopolies created by the US Federal Government were the US Post Office (a government monopoly) and the George Washington's private whiskey monopoly.
The cartels and monopolies (both in governments and public and private) pauperize the great majority of citizens to the advantage of themselves and other government workers (public monopolies) and patronage purchasing private monopolies.
See Wealth of Nations by Adam Smith dated 1750.
The bigger and older the nation state the worse this corruption becomes and the more the living standard falls for the general citizens in the population who are disconnected from government patronage.
In the end all such governed nations implode and collapse permanently as did Egypt, Rome, Greece, China, and England to name a few. The population dies off or moves away and the dwindling big government lovers write books or at least short reports explaining why more government was needed.
Good Luck
The author wants to increase the power and size of US governments which are the problem and not the solution
The Who Knew
The stock market collapses in the week of its rescue.
But, what went wrong?
More than any can articulate.
The free economy has failed cry many.
The free market economy disappeared hundreds of years ago say others. David Hume and Adam Smith described what free markets should be more than 250 years ago. There is now nothing like a free market.
Shake down artists use governments as their agents in a spirited game of miss allocation of assets taking down the living standards of all but the government agents and their friends and relatives. Poverty overtakes the general population and lowers their living standards. Cheap labor is imported in bodies and in products to serve the riich at lower costs than the native Americans.
Welcome to the tribe. We are all Americans Indians now.
The trend is in place, locked and loaded until the population starves or moves away. Europe, Japan, Korea. are all on the same path.
Good luck
Golden State Asks Public Pension Plan for Help
In a liquidity crisis asset values in US $ terms fall and debt and other liabilities such as service contracts do not. Thus, all debtors have a choice of selling assets as they collapse in price or defaulting on debt or arranging for creditors to reduce demands.
Why do Californians think think that money from ofter states should bail them out? Other states are in the same position California is in. Get California to bail them out.
Maybe California would like to sell parts of itself to other states or accept the same per state citizen limits on spending that other states have?
Good Luck
Some True Safe Havens Are Still (Surprisingly) Undervalued
Why do they want to hold US$? To pay their US $ bills for food, health care, housing, and transportation costs. They once borrowed at the bank to cover these costs and thus forestalled a collapse in their living staandards.
Now they are selling US $ assets to cover these costs. And, as a consequence, the US $ value of assets and commodities and foreign assets is collapsing as the value of the dollar itself rises. When dollar prices fall, the dollar rises. The dollar bills in your pocket are gaining purchasing power day after day.
The US is now in a liquidity crisis and also a credit crisis. A credit crisis occures when lenders will not will not lend more money. A liquidity crisis when there is not enough money to pay the bills.
What happens next? More of the same. The dollar rises more and more against assets as US people sell more and more assets to pay their bills. Factories close and imports drop because there is no need for more assets since plenty of used ones are on the market. .
The US Governments should cut taxes and send out checks to private citizens. Instead it bails out banks by buying up bad debt. You thoqht that dumb and dumber only lived in Rhode Island?
Banks can not lend the money advanced from the US Government since loan collateral looses value day after day.
Yes, people will want to sell gold to raise US $'s just as they sell their stocks and bonds.
We have invented the perfect method for melting down the earth world economy. Thank you social engineers and MIT economists.
No wonder the econ boys and girls want to ban short sales.since they have made them so profitable.
Good Luck
Whether Bailout Passes or Not, Implications for USD Are Bad
The US tax payer faces the love knot between the US Congress and the mega cartels which it created and now servises by piling up US$ debt and real tax rates.
Rome started falling 2008 years ago under the same cercumstances.
Let the houe go to the bank. Move into larger living groups. Stop driving one or more cars. You will be just as well off with lower taxes and travel expenses. Consume less, spend less, exercise more. Eat home cooked food. Vote out anyone in office and vote in anyone never in office. Turn off the TV.
Take money out of the bank and out of CD's. Let the bankers sweat. Reduce spending 30%. Let retailers sweat. Let land lords sweat. Let home owners sweat. Let town tax collectors sweat.
The value of that roll of dollars will go up in real buying power over the next 20 years.
Do not buy falling knives in the form of real estate for 20 years.
Energy prices will collapse as they have been maipulated higher by your government and its wars. Blessed are the peace makers.
What about gold versus US currency. Hold gold in a foreign bank or in foreign gold mines. Remember failing governments usually confiscate gold from the public without compensation.
Good luck.
Bailout? Or Start Bailing?
Escape from Cleveland
Escape from New York
Escape from L A.
All momopolies and cartels always bring on their own collapses.
Cities started out as fortresses and service delivery spots on planet earth. They also hosted manufacturing activities. The work force was resident in the cities and walked to work up till 1910..
We are sitting in front of internet modules which are ending the values of cities, They are now collapsing and their cost of operation is now so high that they will keep in collapsing until they become what the above movies suggest.
Commutation collape goes with city collapse. Fuel price collapse goes with commutation collape.
Government revenue collapse and debt default explosion go with city collapse. City real estate becomes worthless as does real estate near cities.
No central or periferal government can stop the collapses but all will go broke in the attempt.
The US Government is now broke and the US $ is lost. Look at US Government revenues and expenses and outatanding debt. Can it survive as a financial entity? No.
What is the dollar worth if the USA government goes broke? .
Good Luck.
.
Gold Bull Market Trend Forecast
In a debate, always check the data before making a claim.
Good luck.
Gold Bull Market Trend Forecast
Europe (west of Russia) and the North American continent (above Mexico) and Japan are falling apart while the rest of the world is booming.
Of course China is a question mark as the plan seems to be to srink the population in half and then half again and etc. until the last person dies and India takes over.
The western Europe, USA, Japan economies have died and are now in paralasys under a toxic mushroom clood of dollar debt. Their governments want to explode their curremcies and their foreign debts. Their production costs and government taxes are exploding even as their consumer reeal income declines.
Currency ties of the winning half work to the Euro and $ and Yen will soon break. The winning half workd will use its Euro and US $ holdings to buy gold and back their currencies with it.
Forecasting is fun.
Good luck.
Higher Bills for the U.S. Means Higher Gold Prices
Of course he could run to a nice socialist government to get taxpayer money which he will also squander and not pay back so that the rich get richer and the poor get poorer. Hey, isn't that modern socialist?
Now, the governments of the world at all levels are complete failures by the test of wealth of nation increase. Wealth of all nations is now collapsing. Assets are not worth what they were in local currencies and local currencies are falling against commodity prices.
Good luck.
Gold Bull Sees Huge Run for Gold
The new world is internet driven and computer and machine driven. Lately, the US noid cum rifle world saw a complete collapse in the output of once desirable goods like electridy or hydro-carbon prime movers and there conduits or roads.
Prior to this collapse, the whole noid cum rifle world saw the explosion of taxation and waste in the form of governments and their derivatives such as munition makes and monoopolies and cartels like banks at all levels.
The new noid cum bot world will rise and noid living standards will stop falling, stablize, and then rise again after a 100 yeat of decline.
Governments will bankrupt and collapse as will their corrupt shakedowns and social wealth depressing handouts which can not be continued.
The current stage in the process of noid cum rifle collapse is where fiat currencies are collapsing in volume by dissapearing as are their proxies in stocks, bonds, and real estate.values dissapear. Yes, the real M's are shrinking in US $ totals fall due to cost of living infation and realizable asset vaues declines.
Now internet replaces comutation, and travel. Highly taxed real estae drives the occupants to lining groups and reduces town tax takes, Towns shut down schools and internet takes over education. Anyone can attend any school be it grade, high, or college.
From March 2008 to October 2008 US $ have been disapearing like front on a sunny morning in house values, job payments, stock share values, commodity holdings, and so called dirivitives.
The US Federal governmet has now decided to print losts more US $. And, consequently, US $ interest rates have risen and commodity prices have too. Now, the March 2008 to October 2008 changes will be eversed in the October 2008 to March 2009 period.
Good luck.
.
Barrick and Goldcorp Bullish on Long-Term Gold Prices
All the King's horses and all the King's men could not put Humpty and Dumpty back together again.
September 17, 2008 was the day the US $ and just about any other fiat currency became too dangerous to hold because it is too dangerous to invest.
On that day gold rose 10% against the US $.while paper investments fell 4 % against the US $.
Blood is now in the streets.
Good luck.
The Rebirth of Gold and Silver Stocks
As 2008 has progressed, more and more US $'s have vanished in assets like real estate and stocks and bonds. Debtors are selling everything to get dollars to pay creditors.and with the shortfall creditors can not find the US $'s to pay their creditors.
This is the worst credit crisis since the 1930's. As all asset classes are sold at lower and lower prices to raise US $'s to pay creditors, the USA faces financial implosion. How to stop it? Set gold to a price of $3200.00 the ounce with an open market backed by the USA gold horde Has printing money done any good yet? No.
Fiat money can not stop a run on the bank.
Good Luck.
John Embry: 'When the Gold's All Gone, the Market Will Go Nuts'
The huge number of indebted asset owners assets for sale swamps the market for each item and forces all prices lower on all asset classes in paper currency terms.
That is where we are now. As all asset prices fall in terms of the paper currency more and more assets must be sold to make set amounts of paper debt payments. Welcome to the 1930's.
The beauty of paper currency is that it permits infinite expansion in asset prices followed by infinite collapse in asset prices and of course a complete collapse in the economy.
Today's real financiers know this. Today's economist are all on government payrolls and know nothing but to praise the governments every action..