Thx 4 Ur kind words, John. RE: GPM/Y2K threads coming together, we can hope, right? It is my observation as a gold bug of many years that the rally hopes of most modern day goldbugs--a term to which I don't take offense as I don't believe it connotates crazy--well, most of those rally hopefuls have been atuned to one of 2 events potentially occuring: collapse of crooked USA govt or inflation. Many are now adding a 3rd one...collapse of the stock market bubble an event which will make finally make gold STOCKS rally.
I've nearly gone hoarse on the GPM(Gold Price Monitor) and Gold-XAU threads trying to convey the importance of the ECU coming at us like a freight-train.
But, cum se, cum sa....
For nearly 9 months I have held the view AND posted the following 3 points:
This millenium will be different that previous milleniae where the Chicken Littles, throughout time have talked about the world ending...
for the following 3 reasons:
1) fundamentalism feeding the historical milleniae's hysteria frenzy over the 2nd Coming of Christ based on many Old Testament prophecies and interpretations, not the least of which is the 50 yr anniversary/jubilee celebration currently being held of Israel becoming an independent nation
2) Freight train of Currency Chaos courtesy of ECU barreling towards us, NON STOP...and the almost immediate introduction of the 3rd reserve currency, the AMU -- Asian Monetary Unit--as the result of Bretton Woods Currency Accord of 1942-44, which is in actuality still running things, timetable and agenda wise in these matters...
3) AND THE near simultaneous appearance/chaos Y2K BUG which timeline is also immoveable and dead ahead as they usta say in the old western flicks...
I regret to say, that
since none of the above fit into the standard goldbug mentality of either a crooked governmental collapse or inflation....
most goldbugs have dismissed me as a some kind of pleasant enough but way out there goldnut.
I was delighted when someone in the "awake and alert stage" (was it you, John?) posted a Y2K hyperlink to this thread last week on the GPM thread.
RE: Y2K, some of the earliest buyers of physical gold to my understanding have been the LOC remediators who see what is coming.
Personally???
I'm looking for a "bank holiday" the likes of which will make the one in the "old days" look like a coffee break! I twinly anticipate not only the resumption of "banking" after the "holiday," I also expect an official devaluation of the US$ to be the result, possibly cutting as much as 1/3 off the current $'s value.
What a shocker THAT will be to our system!!!
Its reality/advent will only add to the stock/bond mkt chaos after said "holiday."
I'd like to remind the Y2K folks on this thread that:
1) the already assembled Federal Reserve Plunge Protection Team, to the best of my understanding, has already and ONLY conducted mock collapses of the stock market scenarios in Alan's War Room.
2) the Fed. Reserve IS alert to the potential Y2K problems in the banking system and have begun to issue directives/guidelines for same under their egis...
BUT WHAT IS MISSING FROM THE ABOVE LITANY is:
3) the Fed Reserve is alarmingly mum about the inevitable $ deval/collapse that is dead ahead.
Image for a moment if you can:
The electrical/medical/transportational/water utility/telecom crises--dead ahead--
being COMPOUNDED by a spike in costs for those same chaotic services
that by NO STRETCH of the imagination are going to be either sporadically available or even UNavailable--- at the same time the prices go up????
You wanna talk riots and looting? This convergence portends the horrendous LA riots to seem like a May Pole dance of pretty flower bedecked maidens!!!
HOW? By devaluation of the US$ by 34% due to the imminence of the GOLD BACKED ECU,
OVERNIGHT :
your normal say $2.49 gallon of 1% milk will be $3.34 cents NORMALLY, and that is IFFFF there IS any fresh milk on the shelves.
89 Octane cheapie Unleaded...goes from $1.15 to 1.54 OVERNIGHT
$2100 mo. hs paymnt on $250K home will become $2,814 OVERNIGHT
That $42,000 LEXUS will become $56,280 OVERNIGHT!
That $250,000 house will become $335,000 OVERNIGHT!
That college tuition of $21,000yr becomes $28,140yr OVERNIGHT!
A $72,000 Annual salary (+ benes) in reality becomes: $53,700 OVERNIGHT!
I could go on...
*****
Sobering? YOU BETCHA!!!!
And the most sobering thing is:
Even with yours and Cheryls and Yourdons and Yardeni's and poor ole Burlington Northern's best efforts...
THE CURRENCY DEVALUATION BY THE FED. RESERVE. will NOT be anticipated, trumpeted nor planned for...
It Just will be...
and my best guess is that the bank holiday and concuring deval. will occur DURING THE PLUNGE PROTECTION Teams downtime in the stockmarket, when those circuit breakers "quiet things down."
No rumors.
No warnings.
Just action by FED reserve, and with the stroke of a pen,
salaries will go down and the price of all things will rally.
Talk about chaos...and while the lights are out, hospitals are scrambling, water is rationed and military personnel are seen any and everywhere to keep the peace...at home!
Anyone still want to visit about role/usage of gold in those times??(grin)
P.S.
The reason why the For Sale sign is in the front yard is because I believe real estate will be priced "right" shortly thereafter Y2K!
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