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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 366.51

+1.2%

Nov 5 4:00 PM EST

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To: elmatador who wrote (100659)	5/17/2013 1:03:57 AM
From: Maurice Winn	1 Recommendation Read Replies (1) of 217549

ElM, there wasn't really a collapse. When there's a real collapse, unemployment zooms way past the 10% which the USA went to from 5% or so. Something like 30% or 50% is more like it. See Greece, Spain, Argentina back in the day. GDP in the USA hasn't fallen. When you see 30% GDP fall, then you can say there's an actual collapse. Even 20% would be quite nasty for a lot of people. What happened as a result of the speculative bust in USA housing was that a swarm of speculating banks which had gambled that "house prices always rise" found themselves with all sorts of counter-party derivatives risks and no financial backing. After a spot of tarping and with a few being sold off for parts such as Lehman to Barclays, everything is back on track. There remains the matter of huge deficits and wildly promissory notes issued by politicians, with no hope of paying their promises with actual value [see Greek pensioners for example, with Portugese in a spot of bother too]. That will be taken care of by diluting the US$ until the promises match reality. Iceland and Iraq took care of creditors by telling them to take a hike, which was a sensible strategy rather than trying to force people who didn't borrow the money to repay the loans. In Ireland, they are trying to force the public to pay the bills. There never was a financial collapse of 2001, or beyond. There was a Biotelecosmictechdot.com bust, which was well deserved because it was puffed up with irrational exuberance. Same happened with houses a few years later. Gold got into some irrational exuberance when it nearly reached $2000 an ounce. Note the price of gold is heading for my 30 June prediction following the dead cat bounce. Mqurice

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