Generally speaking.
I think Jim Rogers’s interview 2008 might be relevant today. There was a soaring USD at the time.
youtube.com
My concern is a return of assets in the longer term, not a return on assets.
Gold and silver etc. have an important role to play as I see it.
Just have a look at this link...
marketoracle.co.uk
The writer has a fixation with what is one the Y axis. in this case USD's. Not so long ago ( a few days) there was this article. The crimes against silver.
marketoracle.co.uk
The important point is my bills are in UK GBP's. yours are probably in USD's. That is all that matters in the short term. Longer term, I would like to preserve the wealth of my pension. It is difficult to fiddle pm's, The USA as a nation did a good job of suppressing the pm's but 40 years on it did them no good.
I like free markets. QE has been shown to benefit the rich over the poor.
guardian.co.uk
have a look at minute 18 onwards here...
Steve Baker on QE and house prices in Islington and Chiswick.
youtube.com
a more detail view
youtube.com
Now the "poor" will always remain the bulk of the population, even if Che Guevara is made world president. In the USA there is a famous saying "No taxation without representation". My view is the converse is also true. No representation without taxation i.e If the lower income bracket what to be represented in Congress, they need to pay taxes otherwise, naturally, the rich mans lobbyists will only control what goes on.
So, even being a Austrian type of guy, I have to be a realist. The economy needs a proper kick start. Even if you don't believe in Roosevelt’s New Deal, the word "Keynes" makes you wince, Hjalmar Schacht knew what he was doing. In the chaos of a major depression it's important you give people useful jobs to do, otherwise have them do nothing is a sure road to total disaster. Che Guevara types will spring out of the woodwork all over the place and that (imho) is what made Keynes famous. Many didn't like what he said, but it was him or the communists took over in the UK back in the 1920's and 1930's. You give the unemployed jobs, pay them money (the whole idea of the exchange of goods, trade etc) for doing work, and then you tax them a little. How hard it that??
My belief is government should represent its electorate. The bulk of the electorate will always be the lower income bracket. If you want to be rich you need to think responsibly about that situation or the impoverished will come and get you. It's happened before. Government is there for national defense and that includes stopping the nation from starving from economic chaos. It should take the first opportunity to taking a back seat and promoting real a free market at an early opportunity. I think Steve Baker and others make some telling points in the links above. Banks for example, need to have a free market to work in and that includes the ability to fail.
Needless to say, the rule of law should apply, and that applies to the current fraudsters in control who need to answer for events over the last decade or so.
Steve Keen seems to know the score and I am very impressed with what he says.
youtube.com
He has his own website.
Back to silver. I am almost a perma bull on it. Fly high like a buzzard, and wait patiently for wounded animals to appear. Be careful of hungry bears etc when landing to take a meal.
The Kaiser Report occasionally speaks about silver. The episodes are all viewable and can be downloaded.
The failure of QE in the real world might effect Ben Bernanki, or he might continue down his present path. It's difficult to predict how people who are plainly wrong act in positions of authority.
Silver is the best conductor of electricity. Many people do not know that, even academics who should know. It has been shown to have other hidden qualities like medicinal use. My view is keep some and f**k what the advice out there says including mine :-) |
