The Wall St. criminals bring us . . . Mortgage Meltdown II
Great article ananda77. Keep posting 'em. :D
This is another . . . I think it was Henry Ford in the 1930's who once famously said "If the American people knew how their banking system really worked, there would be revolution before dawn . . . ".
Once you read this hard hitting article by Jim Willie you will see the old man's wisdom. Even back then he knew that Wall St., the Fed and the US Treasury were to become a criminal nexus that was all about serving themselves, not the people who's trust they have been given.
A must read . . .
http://www.financialsense.com/fsu/ed.../2008/1216.html
Also, if you want to know what's going to happen in 2009 . . . think about what happened in 2008 and multiply it. This US 60 Minutes story on the coming next stage of the mortgage meltdown will shock you.
http://www.youtube.com/watch?v=iUuROWEMjm0
Gold was best local investment by a mile . . .
"I'm less concerned about the return ON my investment than the return OF my investment"
MARK TWAIN
Good advice in times like this . . .
Gold up $25 this morning to $870. . . that "barbarous relic" looks like it will likely finish the year with yet another positive another gain over 2007 - that's nine years in a row. And I'm pretty sure it will be the only asset class to show a $US gain and a big gain in AUD and NZD. People who are concerned about gold's lack of income really don't get it.
Anyone in the US who held gold this year will have protected their wealth and achieved a small gain.
Anyone in Australia or NZ who held gold would have protected their wealth against a big currency devaluation.
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Note the USD nominal high back in Mar equated to about AU$1,080, yet as the AUD was crushed in Oct, the price in AUD hit about $1,370.00 - the gain would be similar in NZD.
In 2009, as the global financial crisis really deepens, I believe the authorities who are "governing" it's paper price on the COMEX will lose control and gold will begin rising in all currencies.
Anyone who doubts that the gold price is manipulated needs to open their eyes and do some research. The manipulation of the gold market by the US Fed and Treasury through their surrogate banks JP Morgan and Goldman Sachs is one of the principal reasons for the global mess. This long-term manipulation has allowed US interest rates to stay far lower and the dollar to stay far higher, far longer (decades) than they otherwise would have in a free market.
http://www.gata.org/node/wallstreetjournal
This has been good for an overspending US government and economy but has created an enormous surplus of dollars - aka as "hot money" which in turn creates economic bubbles and distortions throughout the global economy because the USD is universally held and traded as the world's "Reserve Currency". It will not be able to maintain this status for too much longer.
In addition, the price manipulation has intentionally broken the economic thermometer which has always been gold . . . so that investors now see gold as more risky than dead investments like US Treasuries.
Boy, is there a future shock coming for anyone who thinks that the debt of the US Government is a safe place to be.
$1,000 invested this year would be . . .
Interesting chart . . .
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