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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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Ninth Circuit OKs Feds Use of Cellphones as Roving Bugs

Ninth Circuit OKs Feds Use of Cellphones as Roving Bugs | Gold and What Moves it. | Scoop.it

by Joe Wolverton, II:

 

The Ninth Circuit of Appeals ruled on July 20 that agents of the federal government may use a cellphone as a microphone and record the conversations overheard even when the phone itself is not being used otherwise.

 

"This frightening bit of judicial lawmaking came as part of the decision in the case of the United States v. Oliva, 2012 WL 2948542 (9thCir. July 20, 2012).

 

"For a bit of background, Oliva was convicted by a jury of drug-related crimes involving the distribution of methamphetmaine, cocaine, and marijuana. He appealed a decision by a district court denying his motion to suppress evidence obtained from a series of electronic surveillance orders authorizing interception of communications over cellular phones associated with him and his alleged co-conspirators.

 

"Oliva argued that the orders authorizing these wiretaps were not standard intercept orders and did not meet the “specificity” requirement of the applicable federal law.

 

"In its decision, the Ninth Circuit has upheld the lower court’s ruling, essentially allowing the federal government to convert cellphones into “roving bugs” so long as the government makes it clear that it will be using the target’s cellphone in that manner. Notice, the Ninth Circuit — a court created under the authority granted to Congress in Article III of the Constitution — did not throw out the matter as a violation of the defendant’s Fourth Amendment right against “unreasonable searches and seizures.” Instead, it simply informed the government that it needs to get permission before doing so. ..."

 

click through for the rest and link to the pdf of the decision.

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The “New” Migration To Gold And Silver

The “New” Migration To Gold And Silver | Gold and What Moves it. | Scoop.it

by Byron King:

 

"Yesterday I gave you a brief history of gold, and why I think the metal may be higher. Today let’s round out our discussion with the importance of holding physical metal!

 

"In fact, over the past few years investors have been flocking to gold and silver.

 

"What’s going on? It’s a worldwide trend. There’s a money migration going on. And I mean BIG money is migrating. It’s like those herds of zebras or wildebeests or gazelles in Africa. When they migrate, the earth shakes and the ground is just a moving kaleidoscope of hides and footprints. The dust clouds blow high into the sky.

 

"Yes, the world economy might be in a recession. People across the world are worried about their job and security for their family. But other people with big bucks are scooping up gold and silver. Those buyers are looking for investment safety, they want to protect and grow their wealth.

 

"Moneyed investors don’t trust ..."

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Which way will the pendulum swing for gold? - MINING.com

Which way will the pendulum swing for gold? - MINING.com | Gold and What Moves it. | Scoop.it

by Frank Holmes:

 

"... Athletes are often asked if they can keep improving their outstanding performance; I’m asked if gold can continue climbing. As I like to remind investors, gold isn’t always on an upward path. When looking at the average monthly returns over the past decade, you can see that short-term setbacks are normal throughout the year. The yellow metal has historically declined in value in March and June; gold stocks see much greater fluctuations from month-to-month.

 

"So while gold has its monthly ups and downs, you can see that, on a historical basis, we have arrived at gold’s peak performance period of the year. Based on 10 years of data, gold bullion has historically increased 2 percent in August and 4 percent in September. ..." click through for the full piece with charts.

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Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?

Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse? | Gold and What Moves it. | Scoop.it

"Something really strange appears to be happening. All over the globe, governments and big banks are acting as if they are anticipating an imminent financial collapse. Unfortunately, we are not privy to the quiet conversations that are taking place in corporate boardrooms and in the halls of power in places such as Washington D.C. and London, so all we can do is try to make sense of all the clues that are all around us. Of course it is completely possible to misinterpret these clues, but sticking our heads in the sand is not going to do any good either. Last week, it was revealed that the U.S. government has been secretly directing five of the biggest banks in America "to develop plans for staving off collapse" for the last two years. By itself, that wouldn't be that big of a deal. But when you add that piece to the dozens of other clues of imminent financial collapse, a very troubling picture begins to emerge. Over the past 12 months, hundreds of banking executives have been resigning, corporate insiders have been selling off enormous amounts of stock, and I have been personally told that a significant number of Wall Street bankers have been shopping for "prepper properties" in rural communities this summer. Meanwhile, there have been reports that the U.S. government has been stockpiling food and ammunition, and Barack Obama has been signing a whole bunch of executive orders that would potentially be implemented in the event of a major meltdown of society. So what does all of this mean? It could mean something or it could mean nothing. What we do know is that a financial collapse is coming at some point. Over the past 40 years, the total amount of all debt in the United States has grown from about 2 trillion dollars to nearly 55 trillion dollars. That is a recipe for financial armageddon, and it is inevitable that this gigantic bubble of debt is going to burst at some point. ..."

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oftwominds-Charles Hugh Smith: The Keys To Understanding the Collapse of the Status Quo: Credibility and Expectations

oftwominds-Charles Hugh Smith: The Keys To Understanding the Collapse of the Status Quo: Credibility and Expectations | Gold and What Moves it. | Scoop.it

Charles Hugh Smith writes:

 

"... The loss of credibility in the European Union, China, Japan and the U.S. is now in full swing. Credibility is like a sand castle; every false promise, every half-truth, every simulacra "solution," every secret deal, every surrender to vested interests, every politically expedient but ultimately disastrous "fix" removes a handful of sand from beneath the sand castle.

 

"When enough sand has been removed, the castle collapses under its own weight.

 

"The most interesting characteristic of this hollowing out process is the apparent stability of the Status Quo until the sudden "nobody saw it coming" collapse. ..."

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Five years on, the Great Recession is turning into a life sentence - Telegraph

Five years on, the Great Recession is turning into a life sentence - Telegraph | Gold and What Moves it. | Scoop.it

Ambrose Evans-Pritchard, International business editor writes:

 

"... Investors were pulling money out of America’s $2.5 trillion money market industry in panic. This was the long-feared heart attack in the credit system, even if the economic malaise behind it did not become clear for another year.

 

"The original trigger for the Great Recession has since faded into insignificance. America’s house price bubble -- modest by European or Chinese standards -- has by now entirely deflated. Warren Buffett is betting on a rebound. Fannie and Freddie are making money again.


"Five years on it is clear that subprime was merely the first bubble to pop, a symptom not a cause. Europe had its own parallel follies. Britons were extracting almost 5pc of GDP each year in home equity by the end. Spain built 800,00 homes in 2007 for a market of 250,000. Iceland ran amok, so did Latvia and Hungary. The credit debacle was global. If there was an epicentre, it was Europe’s €35 trillion banking nexus. ..."

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Trader Dan's Market Views: Gold Retreats from the Top of its Trading Range

Trader Dan's Market Views: Gold Retreats from the Top of its Trading Range | Gold and What Moves it. | Scoop.it

by Dan Norcini: [be sure to click through for the charts and the full post]

 

"Nothing doing on gold being able to break out from its consolidation pattern. Last week I showed a chart with gold right at the very top of that range and working into a heavy resistance level. Today it failed to better that resistance and was shoved back lower meaning that the odds favor it working lower within that range from here as we wait for the next round of buying support to surface. It should be able to garner buying near $1600 initially on down towards $1585 should that not hold it.

 

"Keep in mind that this market must have a spark to take it up and out of this range. Until it does, the consolidation pattern remains in effect. ..."

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Gold must break $1,630 resistance to push higher

Gold must break $1,630 resistance to push higher | Gold and What Moves it. | Scoop.it

by Jan Harvey:

 

"We are still the this range-bound trading area, with the upper limit being $1,630," LGT Capital Management analyst Bayram Dincer said. "Technically speaking, (a break of) $1,633 is really the trigger that is needed to push gold higher."


"He said talk of growth-boosting moves from China on Friday had triggered the latest move but that buyers were awaiting clearer signals on policy from other central banks including the ECB and Federal Reserve for a more decisive move.

 

"The euro was up 0.3 percent against the dollar. The correlation between gold and the euro/dollar held near 0.6 on Monday, having averaged 0.53 so far this year, with 1 representing a perfect positive correlation.

 

"Jitters over the global economy weighed on stock markets, with Japan the latest country to post weak second-quarter growth data on Monday, after readings from the United States, China and the UK showed either slowing or stalling expansion. ..."

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Will the Crop Crisis Trigger Inflation? - Casey Research

Will the Crop Crisis Trigger Inflation? - Casey Research | Gold and What Moves it. | Scoop.it
By Bud Conrad

 

"Our news media have not given enough attention to the very serious heat problems of this summer's growing season for grains. The heat and drought have seriously damaged the corn crop during the early July period of tasseling. The price of corn at $8 per bushel is a new record high. Similarly, $9 per bushel of wheat and soybeans at $16 a bushel are a record high. Soybeans are in the middle of their crucial pod filling stages in August and are looking vulnerable. The decline in the quality of the corn crop over the growing season shows just how serious this year's drought has been. ..." click through for the rest. You also might find interesting the piece at the link titled: "Lip Service to Liberty".

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US Treasury's $2.4 Trillion Secret

US Treasury's $2.4 Trillion Secret | Gold and What Moves it. | Scoop.it
Watch the video 'US Treasury's $2.4 Trillion Secret' on Yahoo! News.

 

Video:

Details are emerging about a secretive Treasury Department program backing nearly $2.5 trillion in money market mutual funds, with CNBC's John Carney. 

 

Hat tip to http://www.jsmineset.com 

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TALKING_HEADS burning down the house.mpg

another gem from 1983...one of the first ever digital audio recordings by SONY...

 

Let's get the week started!

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Who Could You Call if Civilization or the Financial System Collapsed? | Uncommon Wisdom Daily

Who Could You Call if Civilization or the Financial System Collapsed? | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it

Sean Brodrick writes about what is essentially, in my mind, the growing bartering system in the United States.

 

"Don’t you hate how the Fed keeps throwing money at the big banks and, yet, Wall Street banksters don’t pass that money along to regular folks?

 

"Well, if you’re sick of money being tight and jobs being scarce, you can do what some people around the country are doing and start your own time bank, or hour exchange.

 

"It’s basically a local currency and, best of all, it’s tax-free.

 

"I recently visited a time bank in Portland, Maine, that has become a model for time banks across the nation. I talked to Orion Breen, coordinator of Hour Exchange Portland.

 

"He told me the Hour Exchange came about as an answer to the question, “How can we get people working when money isn’t flowing?” The Hour Exchange is one way to do just that.

Here’s How it Works

 

"Let’s say you’re good at fixing computers. You help a neighbor or resident of the same town for an hour with their computers. Doing that earns you an hour credit that you can use toward an hour of someone else’s time, whether it’s health care or home repair. ..."

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Got Physical Gold?

Got Physical Gold? | Gold and What Moves it. | Scoop.it

Byron King writes:

 

"As you can figure out, especially if you’re a longtime reader, you had better have your stash of physical gold and silver.

 

"Furthermore, if you haven’t noticed lately gold is on sale. The shiny stuff trades at a 17% discount to last year’s highs.

 

"Today, with gold prices heading higher — $2,000, 3,000 or even $5,000 — holding the physical metal is more important than ever. That’s why I want to make sure you know the ins and outs of the physical gold market. Consider this your entry level “101” college course on gold.

 

"Before we get to the specifics of holding physical gold, let’s take a look at the reasoning behind this trend with a brief overview of gold’s legacy …"

 

"... Indeed, gold is risky today. From its current level gold could decline. That would be if there’s a massive market crash, and people have to sell gold to raise cash to pay off their margin calls.

 

"Remember 2008? Gold sold down from about $1,000 to about $750. Still, that 25% haircut was mild, compared with what happened to the rest of the market. And through it all — the crash and turmoil — gold remained liquid. Somebody bought that gold. So gold is good, especially when people need fast cash. … "

 

Click through for the rest.

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Twitter / PIMCO: Gross: The #Fed is where bad ...

Instantly connect to what's most important to you. Follow your friends, experts, favorite celebrities, and breaking news.
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Gold auction means shortage for Russia State reserves — RT

Gold auction means shortage for Russia State reserves — RT | Gold and What Moves it. | Scoop.it

RT has an interersting news item:

 

"Current legislation is likely to make it difficult for the Russian Government to buy gold to prop up its reserves. The state plan to buy 500kg may run into problems says ‘Rossiyskaya Gazeta’ newspaper.


"The problem lies in Article 94 of the Federal law that regulates gold purchases. Previously the rules did not apply to the State Treasury or Gohran, but now the article bans the state reserve from giving advance payments to gold mining companies and requires an auction instead.

 

"The state treasury announced in August it will hold an electronic auction to purchase nearly $31.5 million worth of bullion but so far it hasn’t received a single application.

 

“Before we used to give advance payments and buy gold at a fixed price, maybe not as much as we wanted to but we had deals. Now we have to hold an auction. But the problem is that whoever offers the lowest price becomes the winner. It’s absurd. There is a London fixing price. So who would want to sell gold to us cheaper?” said a Gahran representative.

 

"Gold mining companies see no profit in selling bullion to the sate. Instead they would rather sell it to banks that offer a significantly higher price. They also pay 50 per cent in advance for the gold purchase. ..."

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Keynesianism Vs. The Gold Coin Standard

Keynesianism Vs. The Gold Coin Standard | Gold and What Moves it. | Scoop.it

by Gary North:

 

"Recently, the leftist London Guardian posted an article against the nineteenth-century gold coin standard. The author, who seems recently to have begun shaving, has provided a highly useful summary of the Keynesian case against the gold coin standard. His article is a fine mixture of familiar old canards and creative new errors. His name is Duncan Weldon.

 

"Mr. Weldon has not written a book, so it is difficult for me to know exactly what his monetary theory is. He was the unknown Keynesian in the 2011 BBC debate between two teams of economists at the London School of Economics: The Keynes vs. Hayek debate. I assume that Robert Skidelsky, his partner, thought he was an up-and-coming economist. Skidelsky is the author of a multi-volume biography of Keynes.

 

"I think it would be a useful exercise to go through Mr. Weldon’s case against gold. Clearly, he expects people to take it seriously. While I cannot bring myself to do this, having actually read it, I do think some editor at The Guardian took it seriously, even though he also read it. ..."

 

click through for the rest. I had to snippet because I found it so funny how Mr. North begins. That sarcasam carries through the piece.

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More Pain on the Horizon for Investors and the Markets | Uncommon Wisdom Daily

More Pain on the Horizon for Investors and the Markets | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
I would love to tell you that new bull markets are here in gold, silver, oil, the grain markets and the Dow Industrials. But they’re not.

 

Larry Edelson writes:

 

"Two weeks ago I told you that August would see dramatic trending moves, and that we wouldn’t have to wait long for them to unfold.

 

"Well, they’re here NOW. Nearly all markets are pressing extreme resistance levels in what most traders and investors believe are breakouts.

 

"They see a surge in gold, and think it’s going to march to new record highs well-above $2,000 an ounce.

 

"They see a modest rally in silver, and think they should load up the truck, expecting silver to surge to $50 and higher.

 

"They see a rally in oil, and figure that all must be well with the global economy and that higher energy prices are a fait accompli.

 

"They see grain prices surging, and figure rampant inflation will soon hit food prices.

 

"And they see the Dow Industrials hanging in there nicely above the 13,000 level — and expect a new bull market in stocks. ...

 

"... But none of that is in the cards for right now. It’s not time. The moves I mention above WILL happen, but not for at least another six months, give or take.

 

"Instead, nearly all markets will soon turn back down, taking with them the most-optimistic of investors precisely at the wrong time. ..."

 

click through for the full piece.

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oftwominds-Charles Hugh Smith: Money Down a Rathole: College, Healthcare, Housing

oftwominds-Charles Hugh Smith: Money Down a Rathole: College, Healthcare, Housing | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"Households are dumping trillions in hard-earned income down ratholes with marginal returns: costly higher education, healthcare and housing.

 

"What happens when households dump huge percentages of their stagnant incomes down marginal-return ratholes? They get less wealthy, which is exactly what we're seeing. The average American household has been persuaded that pouring money into costly higher education, healthcare and housing are all "investments" that offer high yields.

 

"Sadly, the opposite is true: the returns on these stupendously costly investments is marginal or negative. Let's start with higher education, a topic I have discussed at length numerous times.

 

"In essence, a college degree has lost its scarcity value, and in an era of labor arbitrage (a.k.a. offshoring and international competition), automation and relentless pressure to lower costs, even advanced degrees in law, science and business management that once were perceived as guarantees of secure high-paying employment no longer have scarcity value: the number of people with advanced degrees far exceeds the number of open positions.

 

"Meanwhile, the education cartel has raised ..."

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Legalize Competing Currencies

Representative Ron Paul (TX-14) writes:

 

I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America.

 

This monopoly is maintained using federal counterfeiting laws, which is a bit rich. If any organization is guilty of counterfeiting dollars, it is our own Treasury. But those who dare to challenge federal legal tender laws by circulating competing currencies-- at least physical currencies-- risk going to prison.

Like all government created monopolies, the federal monopoly on money results in substandard product in the form of our ever-depreciating dollars.

 

Yet governments have always sought to monopolize the issuance of money, either directly or through the creation of central banks. The expanding role of the Federal Reserve in the 20th century enabled our federal government to grow wildly larger than would have been possible otherwise. Our Fed, like all central banks, encourages deficits by effectively monetizing Treasury debt. But the price we pay is the terrible and ongoing debasement of our money.

 

Allowing individuals and business to use alternate currencies, especially currencies backed by gold and silver, would expose the whole rotten system because the marketplace would prefer such alternate currencies unless and until the Fed suddenly imposed radical discipline on its dollar inflation.

 

Sadly, Americans are far less free than many others around the world when it comes to protecting themselves against the rapidly depreciating US dollar. Mexican workers can set up accounts denominated in ounces of silver and take tax-free delivery of that silver whenever they want. In Singapore and other Asian countries, individuals can set up bank accounts denominated in gold and silver. Debit cards can be linked to gold and silver accounts so that customers can use gold and silver to make point of sale transactions, a service which is only available to non-Americans.

 

The obvious solution is to legalize monetary freedom and allow the circulation of parallel and competing currencies. There is no reason why Americans should not be able to transact, save, and invest using the currency of their choosing. They should be free to use gold, silver, or other currencies with no legal restrictions or punitive taxation standing in the way. Restoring the monetary system envisioned by the Constitution is the only way to ensure the economic security of the American people.

 

After all, if our monetary system is fundamentally sound-- and the Federal Reserve indeed stabilizes the dollar as its apologists claim--then why fear competition? Why do we accept that centralized, monopoly control over our money is compatible with a supposedly free-market economy? In a free market, the government’s fiat dollar should compete with alternate currencies for the benefit of American consumers, savers, and investors.

 

As Austrian economist Ludwig von Mises explained, sound money is an instrument that protects our civil liberties against despotic government. Our current monetary system is indeed despotic, and the surest way to correct things simply is to legalize competing currencies.

 

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People Are Frightened, Money Pouring Into Switzerland & Gold

People Are Frightened, Money Pouring Into Switzerland & Gold | Gold and What Moves it. | Scoop.it

With continued volatility in global markets, including gold and silver, today King World News interviewed one of the legends in the gold world, Keith Barron. Barron consults with major gold companies around the world, as well as major brokerage houses, and he is also responsible for one of the largest gold discoveries in the last quarter century, a remarkable 14 million ounces of gold.

 

Here is what Barron had to say about the ongoing crisis in Europe: “Well, there are a lot of scared people here. There is a lot of money that’s been pouring into Switzerland and the Swiss franc. As you are aware, the Swiss National Bank has pegged the Swiss franc to the euro, so there is tremendous pressure on the franc.

 

“They (the Swiss) have to take these euros and go and buy other currencies. So they have actually been sending the Norwegian kroner and other currencies such as the Canadian dollar higher, just because of these massive inflows into Swiss francs. Eventually that peg is going to break, but they are doing whatever they can right now to keep it in place.

 

"There is a headlong rush into getting out of the euro and into other currencies...."

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Embry - Gold To Spike As Physical Market Is Shockingly Tight

Embry - Gold To Spike As Physical Market Is Shockingly Tight | Gold and What Moves it. | Scoop.it

John Embry tells King World News:

 

“... I think it’s clear there is a steady buyer in the market, but the price is being controlled in the paper market. The charts for both gold and silver are looking better and better with each passing day. It should look better because the fundamentals are spectacular.

 

"It’s just a matter of time before gold and silver break out aggressively to the upside. The short-term price movements are being influenced by the paper pushers, but that has nothing to do with how these two metals will trade down the line. ..."

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Deutsche Bank: QE3 Could 'Do More Harm Than Good For Gold Prices'

Deutsche Bank: QE3 Could 'Do More Harm Than Good For Gold Prices' | Gold and What Moves it. | Scoop.it

Matthew Boesler writes:

 

"Gold bulls often argue that the yellow metal will only go up as long as central banks continue to employ easy monetary policy.
However, this thesis has been around so long that it might not even work anymore.


"That's the gist of what Deutsche Bank suggests in their most recent outlook for precious metals prices. ..."

 

Read more: http://www.businessinsider.com/deutsche-bank-qe3-gold-prices-2012-8#ixzz23RKW44xz

 

[I don't know about you but I smell a rat. Gold has risen during the QE phase, but I don't think it's wise to claim that rise was because of QE. Has QE affected the price of gold? Certainly. But gold has been rising in my mind a function of the increasing debt levels as well. I expect both QE and Debt to increase. And unless they artificially hold gold's price down, it will increase as well.]

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Greyerz - We Are Headed Right Into A Global Financial Crash

Greyerz - We Are Headed Right Into A Global Financial Crash | Gold and What Moves it. | Scoop.it

Egon von Greyerz tells King World News:

 

“... Gold’s rise has reflected some of the money printing up to now, it’s up 150% in dollar terms over the last five years. Over ten years gold is up 450%. This is because of the destruction of paper money, which will only accelerate over time.

 

"But gold has risen with only slightly more than 1% of the world’s assets in gold. Right now the world’s assets are about $150 trillion. Of that number, $60 trillion is in cash, $40 trillion is in bonds, and $40 trillion is in stocks. But, remarkably, only $2 trillion or just a bit over 1% is in gold.

 

"With inflation headed higher, institutions, which have virtually no allocation to gold today, they will have to increase their allocation to gold. There have been several studies over the last few months that have suggested that institutions will need to put part of their funds in gold.

 

"If you look at world financial assets, a 1% increase in allocation to gold of the world’s financial assets would require 12 years of gold production at today’s prices. There simply isn’t the gold ..."

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Nigel Farage - They Will Collapse The System & Enslave People

Nigel Farage - They Will Collapse The System & Enslave People | Gold and What Moves it. | Scoop.it

[To King World News, Nigel] Farage had this to say about discussions in Europe where they are looking to cap the interest rates on the debt of both Italy and Spain: “On a financial level it’s comical because it’s the same money that swirls around the system, which we know in the end doesn’t work.

 

"But the sinister aspect of it is that the intention of men like (Italian Prime Minister) Mario Monti, and my old friend Mr. van Rompuy, is they actually want to enslave and imprison the peoples of these countries inside their ‘New European Order.’

 

"And it’s horrifying because ultimately what it means is that people are going to reject and rebel against this. They will rebel against it with violence, and they will rebel against it with political extremism. ...”

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14 Questions People Ask About How To Prepare For The Collapse Of The Economy

14 Questions People Ask About How To Prepare For The Collapse Of The Economy | Gold and What Moves it. | Scoop.it
How in the world is someone supposed to actually prepare for an economic collapse?  What should you do with your money?

 

There's some good advice here I think. 

 

Here are the questions, I'll let you click through for the answers:

 

#1 How Do I Get Started?

#2 What Should I Do With My Money?

#3 Should I Invest In Precious Metals?

#4 Should I Get Out Of Debt?

#5 What If I Don't Have Any Money To Prepare?

#6 Should I Rent Or Buy?

#7 What About My Health Condition?

#8 Should I Be Storing Food?

#9 Should I Be Storing Water?

#10 Other Than Food And Water What Other Supplies Will I Need?

#11 What Happens If The Power Grid Goes Down?

#12 Should I Leave The Big Cities?

#13 Should I Get Some Self-Defense Training?

#14 What Should I Do If My Family And Friends Won't Listen To Me?

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