Great video from Stefan Molyneux:
Yesterday, after Tomothy Geitner made the non-announcement of the “plans” for the stolen TARP funds, the market sank almost 400 points, and gold rallied, up a about 30 bucks.
What does this tell us?
Yep, people have lost confidence in government having any kind of solution whatsoever.
The truth is, Geitner and Obama and the rest of the government have no idea what they are doing. They are just taking stabs in the dark as to how to “revive the economy”, when in reality, the only right thing to do is nothing at all!
Today, the market did not rally and gold did. We have an alarming situation at hand. The government bureaucrats keep saying they have to “act”, but acting is exactly what got us into this mess. Obama somehow thinks that the reason Japan was mired in a 16 year+ recession was because their government didn’t act! This is hillarious. The Japanese government ran their interest rates all the way down to zero- to no avail.
The problem here is much worse than Japan. While they could somewhat withstand government interfering in the economy nonsense, the U.S. is much more fragile. People are unemployed, not a lot of people have saved over the past decade, and our manufacturing base is dead. Our government’s plan to print more money to solve the problem is just like a heroin addict getting more heroin to “make things better”.
Money printing as the government is doing is prolonging this recession, and leading us right smack into the worst depression our country has ever faced.
The only way to protect yourself is by buying some gold or silver. Real money doesn’t ever “lose value”, and right now we are nearing the last days of being able to buy gold for less than $1000/oz. Silver is actually a better deal at $13 an ounce, but don’t count on that lasting more than another week or so either.
Pick up small amounts of gold and silver easily at goldmoney.com.
Ron Paul goes up against a handful of uninformed mainstream media pundits. His argument is simple but they try to cloud it with Keynesian nonsense.
It’s a bad day if you are a a believer in the U.S. economy.
We’ve been hearing about an “Obama rally” coming in the stock market for weeks now. Apparently, Wall Street has already discounted any positive effect Obama could have on the stock market, and the dow is down well over 100 points today already on this day of cult-like worship of this new president.
Gold is also rallying today and up $15 at last check.
What’s going on?
January is typically an indicator of how the stock market will do over the course of the year. Many experts predicted a market rally in Q1 of 2009 just on expectations that the “change” many have been sold on will actually improve the economy.
The developments in the market today are ominous. There is literally nothing positive to look forward to over the next 4 years in the macro economy. We have more of the same, destruction of the dollar, and bye bye economy.
The best thing you can do is hide your assets and buy gold. Goldmoney.com is a good place to go, or buying physical gold and silver if you can find it. Pay attention to your own micro-economy and try not to focus on the nonsense going on in Washington D.C.
“If Ben Bernanke were my student I would’ve flunked him”
What caused the Great Depression?
There is a clear-cut right and a wrong here.
“Common wisdom” and history textbooks tell us that the Depression was caused by the free market.
But the correct answer is that government intervention caused the Great Depression.
By not allowing the free market to work, Hoover and Roosevelt set the stage for a horrible period in U.S. history. The same thing is happening right now. The government and Federal Reserve all think that that if they “do nothing” things will get worse. And they are right, things will get worse no matter what. But by artificially manipulating interest rates and printing trillions of dollars out of thin air, they are compounding the problem.
These facts should not even be up for debate. There is a clear objective truth here, and the government and bankster crooks are on the side of falsehood, with the mainstream media as cheerleaders for all that is wrong.
Can we stop living in the fantasy world that the government will take care of everything, that the government doesn’t lie, that the U.S. government is virtuous?
To save the economy we will need more than to simply adopt a gold standard. If we just switch to gold and let congress control the game, we are screwed. We must let the free market decide what currency we will use, not some central planning bureaucrats.
There is a chance that the central planners will try to roll out the Amero this year or next. However, why would anyone buy into this sham? Simply changing the name of the currency and what countries it represents does not make fake money real! A first grader could figure this out.
For now, I’m sticking with goldmoney.com and working on Plan B if things go downhill in a hurry here in the so-called land of the free!
I wish I had a dollar for every time I heard someone say:
“Now is the time to BUY!”
when it comes to a discussion on the real estate market. Suddenly, everyone is a contrarian. At least, they think they are contrarians!
Fortune magazine just published their list of the 10 worst real estate markets for 2009. Not surprisingly, 8 of the 10 are in California. The important point here is that Fortune, not known for going out on a limb, is predicting that some markets in will fall as much as 25% just in 2009!
This doesn’t bode well for U.S. real estate.
What also doesn’t bode well is the fact that Option ARM loans are set to start resetting in Q1 of 09- meaning foreclosures are about to go through the roof.
So the armchair cocktail party real estate market experts are getting it wrong again. There is no “blood in the streets” yet, foreclosers are just getting started, and we certainly haven’t hit bottom anywhere in the country at this point!
My advice to anyone looking to buy property (especially in CA) is to wait a year. 2010 won’t be good either, but at least by that point the shakeout from the credit crisis and option ARM reset disaster will be nearing an end.
Hold on to your hats (and your gold)!