India and Gold
The Indian government has taken close to 20 measures in the last two years to discourage gold purchases and gold imports. To discourage Indian citizens converting Rupees into gold, gold premiums have been raised to the current level of 21%. Make no mistake, this is a situation that will be repeated in other countries as runaway government deficits escalate.
According to Egon von Greyerz, 2014 will be a year of massive wealth destruction as most global stock markets are showing signs of ending a long secular bull market. The U.S., Japan and many European countries are in the same situation; in that, they have no choice but to increase their debt in a ponzi scheme fashion which will accelerate the race to the bottom in major currencies, leading to hyperinflation. As the dollar and other currencies fall, gold will reflect this, and it will more than regain the lost ground in the past 2 years.
On February 7th, the U.S. government will hit its borrowing limit again. Have you noticed that these debt ceiling limits just keep getting shorter and shorter? Seriously, there is no real debt limit this time, just a spending time limit. In short, the government could legally spend 100 quadrillion dollars between now and February 7th.
Bad News for Keynesians
According to data released, South European crisis countries, that followed Krugman’s advice, or the Keynesian model, have done far worse than the Northern European and Baltic countries that honored fiscal responsibility, or the Austrian model. In the end, the fiscal responsibility of Austrian economics beats the fantasy model of Keynesian economics.
Solution for Obamawreck?
Colorado Democrat Representative Jared Polis essentially stated that because illegal immigrants aren’t included in Obamawreck, Obamawreck could fail. In short, this idiot wants to compound the problem of a ponzi scheme with one of allowing people, who knowingly broke the law by entering the country, to benefit at the taxpayer’s expense. Hey Jared, maybe you should stop drinking the furniture polish.
Coming Back Around
AARP was a major reason why Obamawreck became law. Now, UnitedHealth, one of the major supporters of AARP, is dropping thousands of doctors from insurance plans that will primary affect the elderly. Wow, what goes around, comes around and AARP is about to receive their reward.
Finally, please prepare now for the escalating economic and social unrest. Good Day!