I read this the other day, written by Jim Sinclair, Monty Guild, a friend of mine for more than forty years, is the most honest and capable man, in my opinion, in money management. I respect Monty's feelings on many matters, certainly the macro picture. Monty, like I, believe it is possible that coordinated central bank actions in the USA, EU, Japan and China are being discussed. The economic problems are so severe, so international, so global, so entwined, so insoluble and still caused primarily by the greed of 1990 to present finance in the form of OTC derivatives that only coordinated global action can kick this can one more time. Gold is truly going to and through $3500. The gold business is the best business to be in.
I hate this... They can do whatever they want with new bailouts and deals and derivatives etc etc etc.....They have the power to take this thing years furthur than it should fundamentally exist..... The truth can be stretched far and beyond.... For gods sake just get the U.S election over and done with...I'm fricken over this shit...I'm ready to commit suicide for turtles sake!
At the moment TheEnd they don't have to do anything I'm afraid. They just have to say the "right" thing. Eventually just saying the "right" thing will not work, and then they'll have to start doing the "right" thing. After doing the "right" thing for an indeterminate period of time and watching it fail time after time, then we may see change.
Agree. If you read some of the old literature of the coinage of England back before fractional reserve banks even you'll see stories that internally most coins were so debased from that they were little more than blackened stumps with even "good" coins sometimes nearly triangular due to clipping or grinding the edges. Yet these coins were traded internally as though the face value (or what you could read of it) still meant something. Anything that was genuinely composed of real gold or silver tended to get traded internationally very fast. In the modern world you could almost say that most currencies are equally debased and hence even the trading restriction is essentially gone. I'm getting more worried that the can will keep being kicked in one form of another until all banks are effectively nationalised under the central banks (at which point there is even less constraint on the FRB limits) and we end up as debt slaves to an oligarchy of some sort with our real economy slowing substantially due to the frictions and individual bankruptcies or governments pull the pin on the bank bailouts and most of the interlinked financial system collapses and most international trade freezes and real disaster ensues. Either choice sucks until the governments get their budgets under control and move to remonetise gold and restrict the new pyramiding of debt.
But do you think Rio (as in brazil) is a third world country ? no teller machines, jungle drums ? don't think so.
The can will be kick MUCH further then anyone thinks possible, but will end sooner then anybody would think preferable
Definitely this. The international fiat model has been on life support since 71 and only ever gotten worse. It really doesn't matter how long they can continue kicking the can down the road as long as you know where the end game will be. That said, I'd much rather be in Australia than other parts of the world right now and in the future. Our government is stupid and corrupt, but being in a low population density, resource rich nation with arable land in the arse end of the world bodes well for us in a global SHTF situation. If you're debt free and have a little land, I think you'd be laughing all the way when the real end game arrives. I think the US is on schedule for this event with the low key prepping the government there is doing, but I don't really see any alarm bells in Canberra at this stage. I can see a severe recession or even depression for good ol' Australia, but if you can maintain a steady income in the drought and not be a slave to debt, I think you'll be fine, come what may. I don't give financial advise per say, but what I'm doing is ensuring I am mobile to shift with the economic climate demands, staying debt free and just stacking where and when I can afford it - silver, gold, copper, food and water as well as other living essentials. We don't have to think like a doomsday prepper in Australia I think, but there's a lot of logic and rationale to be found in not following the herd either.
Just because it's not fair, does not mean life is not worth living. If money means so much to you that you feel this way, maybe you need a nice change of scenery/perspective. It gets me down too, but if you have even 1oz of PMs you'll be better off than Joe sixpack who has none. But...as commenters on this post have been saying, the can kicking could go on for a while yet. Get on with your life in the meantime. Besides, life during and after financial armageddon is not going to be all sunshine and roses. Work still needs doing.
To answer the original question As long as there is a road in front of them , The can will be kicked down the road
So what. I don't see what the problem is. It keeps the game interesting. If all this alleged underhanded behaviour stopped dead, how boring would it be? The thing I find ironic (and hypocritical) is that stackers keep bleating about how these guys are criminals engaged in unacceptable behaviour. These guys are bad because they are making and controlling the money. If they were to quit the game, resulting in a windfall for stackers, then this is all good cause the morally respectable, squeaky clean stackers would be left standing with all the money and control. It seems like sour grapes and sore losers to me. Instead of whinging, play the game.
