The Euro Crisis May Last 20 Years
Patrick Artus of the French bank Natixis said the euro crisis may last up to 20 years with the first five years showing investors already fleeing from complex financial products into gold, silver, and commodities. Excuse me; we have just seen the beginning of the end of the euro… Period! Divergent economies using the same currency, in this case… the euro, cannot stand…. Period!
Central bank’s purchase of gold is the biggest reason why gold didn’t break down to the $1,200 level. Their purchases, annualized, are at over 600 tonnes per year! In addition, silver inventories are declining in the COMEX warehouse and bears have failed twice to take silver lower; thus, we could see a explosive upside in price action in the near future. With that in mind, after preparing, keep stacking physical.
Potentially Devastating News on the Obama Economy
The Obama economy, which is as stable as Joe Biden’s thought process, is getting even worse. Gallup reported an uptick in joblessness in their latest survey of 30,000 households. With true unemployment going higher, and the uptick in food prices due to the drought, the situation is not good for Obama. Like James Carville said… “It’s the economy stupid!”
Coming Soon: Higher Energy Prices, Shortages
After years of hearing about “free” energy from the sun and wind, people are discovering that they’ve been lied to. Of course, they have been lied to for years about ‘free’ everything from socialism, but they still believe it. Now, with new environmental regulations, we can expect to see more cost associated with producing electrical power; and as an additional consequence, more coal burning electrical plants shutting down causing brown outs.
After the Social Security Administration’s purchase of nearly two hundred thousand of hollow point bullets, people are waking up. Just how would the increasing Social Security deficit be solved with hollow points? Oops! Guess, we really should not answer that one folks. Meanwhile, while these agencies are buying bullets, our border agents are told to use beanbags.
Illegal IRS Rule to Increase Taxes & Spending under Obamacare
It appears that the officials, at the IRS, are attempting to impose an illegal tax on private businesses. They are trying to impose a $2,000-per-employee tax on business, starting in 2014, which is contrary to the clear language of the statute and congressional intent. Hopefully various career managers at IRS will be arrested and imprisoned soon.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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