As the U.S. Treasury conducts some extraordinary tap dancing to keep the government spending in deficit spending mode. Treasury Secretary Lew warned that if the debt limit is not raised by October 17th, the U.S. will be in default. Sorry, that is not quite true. The fact is that the U.S. government will, for the first time in decades, be forced to spend only what it brings in. Yes, that means a lot of programs will be cut; however, that is the price that must be paid for fiscal responsibility. A term that many in Washington are clueless about.
Robin Griffiths, of Cazenove Capital out of London, believes a lot of very big entities have a vested interest in gold and silver prices not rocketing up right now. While paper is easy to trade, obtaining the physical in large quantities is extremely difficult. India and China are mopping up vast amounts of gold. He goes on to say that the gold price should test the 1180 dollar mark; however, it is going to rocket up.
Some good news has come from the government shutdown; in that, we are finding out how many non-essential government employees there are. 91% of the 94,500 IRS employees are axed! 93% of the 16,000 at the EPA are axed. Of the 2 million government employees, 41%, or over 815,000, are axed! Now, where is the downside to this shut-down again?
Blocking the NSA?
A 100 dollar device, by John McAfee, would communicate with smart devices to create a decentralized network that cannot be accessed by government agencies. So, we are to believe that the U.S. Government is going to allow this device without any back-doors?
In addressing state gun legislation, the Missouri Supreme court has held that the removal of a persons right to keep and bear arms is not a punishment. Just one question for these super-genius’s… If a state has a law to allow for the torture of citizens, without conviction, is it legal since these citizens are not being punished?
I will be away for the next few days at a family reunion with very limited access to the web; thus, there will be no reports until I get back.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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Have a good time Scott! Thanks for all you do!
ps – congrats on the 1k