Such an event is possible and it grows more likely by the day.
US Federal Reserve Chairman Ben Bernanke warned overnight that a default on America's debt will spark a major crisis and send shockwaves through the global economy.
"The Treasury security is viewed as the safest and most liquid security in the world, and the notion it would become suddenly unreliable and illiquid would throw shockwaves through the entire global financial system," he told a congressional committee. Click here for more...
SGS, answer me this. Harvey was saying a raid is very likely today, so what is happening now as silver is up .58? Are they raiding and it is not working? Is it coming later today out of their normal pattern? I would love it if they were throwing all of their fire power at it and was still rising.
ReplyDeleteHey Adam, I'm first! Enjoy your MILF this weekend. TH
how can a dollar backed anything be the safest investment in the world? maybe on bizarro world.
ReplyDeleteTom H: Its option expiry...I'm not seeing the metals getting hit yet as they should have been smoked already looking at the gld chart.
ReplyDeleteWe live in a bizarro world.
ReplyDeleteBut I'm a Barbarian and I like my relics!
[Sorry, not my phrase, but I don't remember who to attribute it to]
Once again Sprott screws everybody with PHYS. It just bombed today even though Gold is up.Argggh!
ReplyDeleteGarry, Sprott buying with both fists.
ReplyDeleteThoughts on this?:
ReplyDeletehttp://danielmiessler.com/blog/6-reasons-ron-paul-is-too-fringe-to-be-president
jojo, my thoughts are that no matter what it says there, he is about 16 trillion times better than Barack and his merry band of criminal faggots. The government should have no position on abortion. it should not even be part of the debate. I am all for abolishing anything in government, including the FDA. What good does it do? We are all being poisoned with Monsanto bullshit and our good food is irradiated, so what the fuck good does the fda do other than abetting the destruction of our food supply? A free press would report this poison food and the people would not buy it. The problem here lies in our propaganda, not Ron Paul's personal hatred for inefficient and corrupt bureaucracy. Who cares what he believes regarding evolution? If Meisller disagrees with a more local, non-standardized and Church-based education model, why does he believe the federal gov't is the only alternative. That is just plain stoopid. The federal gov't has failed in its usurped role of educating my children. It is a bit misleading to infer that because RP is against big, bloated government, he wants to restart marketing cigarettes to children, and much, much more. This is a piece of shit, fear mongering, same old bullshit MSM hit job that you should not make anyone here stupider by reading. So what do I think? I think Daniel Meisler is either stoopid, a political hitman, or another brainwashed American sheeple. Whichever it is, I am dumber for having read it.
ReplyDeleteI don't follow that graph. Someone please explain and whats the dotted line?
ReplyDeleteYou're probably thrown off by the peak $850 to $200 current price. The peak of $850 is close to 1970 dollars. The current price of $200 is $1600 (in our 2011 dollars) price deflated to its 1970's value.
ReplyDeleteThe dotted line shows the $850 peak to its current price in 1970 dollars.
Got it. So gold is cheap today adjusted for inflation relative to 1980.
ReplyDeleteA 1970 dollar had 8 times more purchasing power then today.
Thanks Mdweller.
Not many people know this; but when the ceiling of the Metrodome collapsed this past winter, it was was the global elite performing a test run for this whole Debt Ceiling Economy Collapse thingy.
ReplyDeletejojo
ReplyDeletemore noise.. ud rather obummer back in office?
The US will NOT default! This is nonsense. The US is still far from it. It can afford at least another couple QEs and get the debt-gdp ratio over 200% before getting to that point. Look at Euro zone as a guide.
ReplyDeletequestion...if US defaults Gold/silver takeoff correct? will the immediate value of gold/silver drop for the short term if the debt ceiling is raised?
ReplyDeletewhy would gold/silver spot price drop if we are allowing increasing spending and dollar devaluation.
ReplyDeletethey would rise if debt ceiling goes up.. which it will its all, as sgs sais, noise right now..
today silver almost touched JPM stock price that had me going and new gold high anyone?
jesus mother tit-fucking christ
...thats what i thought....just verifing
ReplyDeletenext question...i have about $5k..been doing option trading...thinking about placing an oct slv call around 45...trying to make a little more fiat...i have already phyz stacked pretty dam high....any recomendatons?
ReplyDeletegive me 1k to feed my family?
ReplyDeleteand... [insert your gut feeling] then do that and your set (you got enough phyzz regardless)
or...consider this
.. with the xag/usd people out of forex (today was gold silver currency take out of forex day)
people are rushing into gold / silver stocks and physical to replace their forex PM holdings...
and with the chinese exchange in operation..
the question is
how can JPM and Obummer / bankers etc hold down silver price further? unless they ban slv/gld or people rush out of it on a sudden awakening that they are fraudulent vehicles meant to hold wealth
answer that and theres your answer
donate button = on my blog
ReplyDelete... ... ... (that elevator awkwardness feeling) ... ... ...
@ IamPhoenix....LMAO, how freaking big is your family?!
ReplyDeletei will admit i am kinda shocked the metals did not tumble today ... either this will start to kick off soon or another tumble is planned ... usually seems friday is takedown after nice week ... good to see!
ReplyDeletesgs, i will assume u r busy.....my tinka train is on a roll ......i have stayed aboard, added 7k shares last week or so around .40...sold half for .60 today...looking to get back in next week...i think i can ,i think i can....
ReplyDeleteFinally...I get a prediction right... I posted on sgs's blog last Tues. we would have $40 silver today. Close enough... heres the prediction in the comments...
ReplyDeletehttp://silvergoldsilver.blogspot.com/2011/07/martensen-interviews-sprott-on-why.html#comments
I think we will be going past $40 on Monday, and then back down to about $37.50 before the next leg up to $45.00 by the end of July... When Aug. 3rd hits...and no deal for the Debt Ceiling occurs, gold will shoot past $1650 and bring silver up to $55.
No Deal? I'll believe that when I see it...nevertheless, holding...
ReplyDeletePhoenix, the video you have of canned food and large bins of flour is very funny. Seriously, the last thing any of us in the West should worry about is starvation. Maybe it's because everyone is becoming so fat that all we think about is food. If there is collapse of world economies, you won't go hungry. Greece is in default and it is filled with a bunch of gluttonous fatsos.
ReplyDeleteFreddi: No just enjoying this moment. WU said silver to sub $20, I said buy anything at $33, now hes sayin get your phyzz on. Idiot.
ReplyDeleteGot Tinka? Whos made 35% in 2 weeks? I did, I did!
End of PPT?
ReplyDeletehttp://clicks.aweber.com/y/ct/?l=4roNQ&m=3ZV0RhCiepAZ85B&b=ZPY66ur1DGifBFDS4umMdw
This comment has been removed by the author.
ReplyDelete@Ex-Dissident: If things get really, really bad, we'll stop selling and burning our food to other countries. BUT, if the dollar is collapsing and gas goes through the roof, food won't be delivered as often. And when it does get delivered, the sheep will be running to the grocery stores and will be hell to shop. Even going at 3 am won't help. Believe me, this time I hope I am so very wrong.
ReplyDelete@sister: has Sprott been doing NEW buying? If so, where can we read about it.
ReplyDelete@Ledbedder: that has been completed already too....i have been prepping for over 4 yrs...knowing this event was coming...
ReplyDeletemy goal is to make more bs fiat so i can continue my prepping. i have to admit (call me a fukn dumbass, because thats what it is) i had puts on GDX...and have had my a55 handed to me on a 'golden' platter (no pun intended). SO....with the leftover fiat i was just thinking about a longterm call on SLV...or hell even GDX
@Mark. Very cool. I don't know how bad you think it is going to get, but I feel at the very end, I think bartering will happen. I have bought 40 oz. of half oz. silver rounds just in case. Yes, you pay more for them, but if phyzz goes nuts, 1 oz. rounds might be "worth too much" to do some business. (gosh, I hope that doesn't happen). If you have (1) food (2) a good source of water (3) lots of phyzz (4) defense (5) a well maintained vehicle...research higher end (products offered) stock like Herbal Life (HLF) or stuff like that. If you're not comfortable with speculating, then I would just keep buying the 5 listed above. And as much as I hate fiat, the sheep won't know any better. Keeping smaller bills of fiat outside of a bank is also prudent.
ReplyDelete@SGS: hope you can answer this. The full contract for silver futures (looking at SIZ11) settled Friday at $39.091 B-U-T the mini futures (YIZ11) closed at $39.34. Why such a big difference? I'd appreciate any info, as I have not done any research on it yet. Thanks.
ReplyDelete@SGS, never mind, looks like good 'ol Optionsxpress has yet another bad quote. I'm changing brokers ASAP
ReplyDeletesupermarkets have at most 3 day supply of food. even during a bad storm or power outage, shelves run dry in 1 day. if the sheeple can't get to their MickyShitz or TacoFarts for sustenance, they may actually get healthier through forced fasting in the interim while waiting for food. a typical supermarket has total of 3 isles at most of real food. shop early, choose wisely.
ReplyDeletebasically im the 22yo holding my family together from .. worse than any tv drama ever .. stuff .. distilling water storing it and so on .. gotta do wat ya gotta do
ReplyDeletehaha lets hope .. i see a future where the masses of humongous obeise people come out of the woodworks ..slushi-in-hand.. are rioting in the streets because they cannot watch college football on television one day...
ReplyDeleteits like in neil strauss' book emergency where style is asking his mentor about how his gf will hold him back WSHTF
the mentor laughs and says
"oh no she is a great source of protein"
rofl
In my opinion, default is inevitable. You can't keep putting a band aid on a cut that is just gushing blood. The debt is just too high and there is simply no way the government will be able to pay it = default. So it isn't a question of "If" but "When".
ReplyDelete