Tuesday, January 17, 2012
Gold correction is over! The credit crisis is over! The Housing Market has bottomed. Load up on more debt! Buy lots of stuff!
Gold and the market are soaring! Every pundit that declared that the gold bull was dead are now declaring that the gold "correction" is over. European downgrades are "Old news" and "in the market." The housing market is "bumping along the bottom" but "the worst is certainly behind us."
The internet news providing community is vast beyond counting. There are dozens of cable news networks that need to fill 24 hours 7 days with some sort of blather. There are even still print newspapers that need to say something about something every day.
Every day I'll tell you the exact same thing over and over. The Banks are Bankrupt. Zombies. Dead. They are sucking capital out of the world economy in stead of allocating capital to the world economy. The world economy is still drowning in debt primarily (though not exclusively) because of the massive greed of the Zombie banking community, which now includes most large "Investment" banks.
The world governments that are owned by the Zombie banks are drowning in sovereign debt, and their central banks are all insolvent as they've taken a tremendous amount of bad bank debt onto their own balance sheets.
All 'invesment" is now gambling. Including 'investment" in paper currencies such as US DOLLARS. Gamble all you like. I hope you're lucky. I'm putting my faith/luck into gold, rare gold coins and some silver. I do keep dollars around to pay for stuff. You have to. Right now. But I don't necessarily believe that in 1 or 2 or 5 years that will still be the case.