As you all know, I've been saying that something - some kind of "black swan" event - is coming at us that is really ugly.
Yesterday I had a long conversation with a guy here in Denver who is a local businessman and who knows as much if not more than most GATA followers about just how bad things are with our system - the corruption, fraud, wealth stealing, market manipulation, the inexorable systemic debt and derivatives accumulation, ransacked industrial/economic foundation etc. He's about as pessimistic as me and he is extremely well-read/researched. His neighbor is a retired General with deep ties into the Pentagon. A few weeks ago the businessman asked the General, "how bad is it, really (the problems with our system)?" The General replied, "it's worse than you think." It also sounds like this General thinks that they can't keep the system going much past 2015.
This fits with many other former Establishment insiders from the 1970's and 1980's are now coming and discussing openly. Guys like Paul Craig Roberts and David Stockman.
The attorney who helped me with the CME/Comex analysis and I were chatting about ...