This Chart From The 70s Gold Bull Market Will Shock People
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/1_This_Chart_From_The_70s_Gold_Bull_Market_Will_Shock_People.html
Hathaway - We Are About To See $100+ Up Days In Gold
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/29_Hathaway_-_We_Are_About_To_See_$100+_Up_Days_In_Gold.html
You cannot get the water to clear up until you get the pigs out of the creek. - Author unknown
The ECB is the only European institution that can conceivably bail out the PIIGS. It can do this only by debasing the euro. Inflation is the only option. There will be no fiscal union, except one that is imposed illegally. In any case, it cannot come before the end of the year. It is unlikely to come by the end of 2013. But the eurozone's banking system does not have until the end of the year. It must have a bailout now – one large enough to carry the banks and governments of Spain and Italy through the recession. 
Planets Align for Stock Market Crash in 2013 − If Not Sooner
Argentina Begins to Implode
In Argentina, the situation continues to spiral out of control. The government there has effectively banned the conversion of Argentine pesos into U.S. dollars and has also instituted all-out capital controls to prevent the flight of all U.S. dollars still held in Argentina. As a result, the black market exchange rate for U.S. dollars is nearly 50% higher than the official exchange rate quoted by the government. Moreover, the Argentine government is so concerned about the flight of U.S. dollars that its citizens cannot exit the country without a blessing from the Argentine tax authority and a once-over by cash sniffing dogs.
Meanwhile, the real inflation rate is expected to top 30% in 2012, and promises by the Argentine government that they will not devalue the peso seem laughable to everyone but government officials. In an effort to prop up the peso, the Argentine government is forcing property owners and lenders to accept Argentine pesos in lieu of U.S. dollars. Fearful that all U.S. dollars left in the system may be confiscated, many Argentines are withdrawing whatever U.S. dollars they have and putting them in safety deposit boxes, leaving a shortage of available safety deposit boxes in Buenos Aires. Why Argentines believe their government will act with more restraint than the United Kingdom is unclear. (British Government Raids 7,000 Safety Deposit Boxes)
The Argentine boom/bust cycle is happening again, as it does nearly every decade. This time is no different, despite what Keynesian economists might say. |
"No government ever voluntarily reduces itself in size.
Government programs, once launched, never disappear." ~ Ronald Reagan |
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