Fitch Downgrades Argentina and Predicts Default
Fitch has downgraded Argentina to “CC” from “B”. A rating of “C” is one step above default. Now get this… Fitch is in a legal battle with the government of Argentina in a New York court and the judge has ordered the Argentinean government to set aside $1.3 billion for certain investors. Who those investors are, we do not know. What a messed-up world we live in when a sovereign country can be in a legal battle with a ratings firm.
The Pain of Spain
Leaders in the EU have approved a 37 billion euro bank bailout plan and are demanding that investors bend over and take a 10 billion euro loss. Yes, these actions just opens the doors for foreign investment in Spain… Not!
Fed Sabotage QE3
Is the Federal Reserve trying to sabotage the open-ended QE3 for the sake of the fiscal cliff? Benji knows that monetary policy can fly under the public radar far more easily than fiscal policy. The Fed may risk undermining its monetary support of the economy; so that, the resulting elevated fiscal crisis would force fiscal policy changes.
Unlimited Debt Ceiling
Little lying Timmy Geithner has called for an end to the debt ceiling, believing that America can continue to borrow money indefinitely with escalating debt, now pegged at over $16 trillion and growing daily. The question that should be asked is, if we have no debt ceiling, why pay federal taxes? In short, Geithner, based on his “end of debt ceiling comment”, knows nothing about money…. Period.
Current Financial System To Implode Within 24 Months
Yes, gold and silver took a beating; however, none of the fundamentals have changed; in fact, for the fiat economy, it is getting worse by the day. Simply look at this as another buying opportunity. Anyway, James Turk, and others, believe that the steps being taken by the LBMA and Western central planners, to cover up the corruption and manipulation in the precious metals markets, only illustrate how the ponzi scheme is unwinding. At some point, commodities, like gold and silver, will begin to rise much higher and at a faster rate that many can envision; thus, there is going to be a panic, but the panic is going to be by the people who are coming into the market late. When this happens, gold and silver are going to become overvalued once again; however, we are a long way from that blow-off. With that in mind, after preparing, keep stacking physical.
If Bad Parents Told the Truth
Here are a few funny, yet sadly true, statements bad parents would say if they told the truth to their children…
1. My love life was more important than you.
2. My career was more important than you.
3. I didn’t really want children, so I tried to ignore you as much as possible and stay focused on my own life.
Don’t you just feel the love?
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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