End Times

A video that must be studied.  HERE   Paul is the only advocate of Austrian economics I know of and spent 12 terms in Congress attempting to thwart fiat currency, to no avail.  He gives us a final piece of advice, here.

The End Times will begin with a currency collapse that is now in the near term. The Federal Reserve has done its best to protect the banks and the Federal Government, neither of which is its directive. It no longer has any tools to shore up our debt. The American Poinzi scheme has run out of victims and we are standing around with our pants around our shoes. You know what happens when everyone wants out of a pyramid scam at the same time.

China, though it has been hoarding gold and other metals, may collapse first as it has also lived on paper money. Europe is weaker than we are, so money is coming here for protection!  The one positive factor is we can produce energy cheaply, now, but the government seeks to stop it. An indicator that our leaders desire collapse.

Somewhere in the near future is a tipping point. Is it our stupid notion to start a war in Europe? Is it our helping Sunni murderers? Will Russia, China, and India formally reject the USD?  Or,  will the subversives in America finally set off rioting so their well honed plans for occupation begin? Once there is a general feeling that investors need to get our of the dollar, we will quickly collapse and the city's will become war zones.

So, do something.  Get out of cash.

A screaming alert to the wise

Bernanke is now joining Rosenberg, Ferguson and Faber, Edwards, Grice and many others in warning that the debt crisis rearing its head in Greece may spread to America, causing  U.S. interest rates to climb.

As the Washington Times wrote yesterday:

With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.

Recent events in Europe, where Greece and other nations with large, unsustainable deficits like the United States are having increasing trouble selling their debt to investors, show that the U.S. is vulnerable to a sudden reversal of fortunes that would force taxpayers to pay higher interest rates on the debt, Mr. Bernanke said.

"It's not something that is 10 years away. It affects the markets currently," he told the House Financial Services Committee. "It is possible that bond markets will become worried about the sustainability [of yearly deficits over $1 trillion], and we may find ourselves facing higher interest rates even today."

I know I repeat myself, but THE SKY IS FALLING.  Some ideas, please add any:

1.  Get out of all bonds, anything that has a fixed dividend.  Just do it.

2.  The market and metals will go down when interest starts.  Eventually, metals will return to favor.

3.  Buy all the stuff you can, now.  If you are not scared, but on a fixed loan.  Even a fixed home mortgage will be an investment, as long as you can pay it.

4.  Get ready to grow food, might as well get into it.  If you can store food, buy it now.

5.  I think there is another clunker for crap program, to buy energy equipment.  If you need anything, get it now.  Get the clunker benefit, beat inflation, and lower your energy use.

Any ideas?  

----

Note the Washington Times reported on this.  Where are the leftists?  What are they thinking?  We can ignore reality and make Obama look good?

 

The fat lady is singing

Greg called me about an article on the von Mises Institute's site. It is required reading. Seriously, take the time to take this seriously. Acting too late is reacting, which is to say, you lose. Sometimes, paranoids are right.

I think is was Milton who said some books were for tasting others for digesting. This article is for digesting and, then, preparing. Type on the title for the site, if it is not present. (I never know what is going on technically)

A few out takes:

Anyone who does not understand the magnitude of what is taking place is an economic ignoramus...

The conspiracy of well-placed insiders is now tottering. The whole structure of the national American political system has rested on the solvency of the largest American banks. These banks have all been called into question. They are now gutted....

These scholars agree: we are seeing the bankruptcy of every Western government that has made too many big promises to too many voters regarding free healthcare and guaranteed retirement. All of it will collapse. The tatters of the promises will point to the tatters of those who made the promises — politicians — and the tatters of the system that was supposedly going to guarantee delivery of the promises.

The academics still believe in the healing power of the state. The voters still believe this, too. But voters are catching on more rapidly than the academics that the state is running out of wiggle room. Millions of voters have figured out that they are going to get stiffed. They don't know what to do about it, but at least they understand that they really are going to get stiffed...

We will have another round or two of centralized government, and probably more than one or two rounds of increased monetary expansion. But what we will not have is a restoration of anything resembling the financial world that existed prior to September 2008. That world is gone...

$28 $21

"At the very core of the free-market economy, as Mises said in 1912, is the monetary system."

This is why it is important for you to preserve your assets by not believing the official assurances. Put your money where the experts tell you that you should not put your money. You should take your money out of those segments of the economy into which the experts say you should put your money, claiming it will soon boom. They have ignored the fact that the stock market has been a losing case since March 2000.

Peanut butter and guns are a good way to deal with hyper inflation. I suppose taking out a loan may work, if you don't need one, then watch as the dollars you use to repay the loan shrink.

For God's sake, only a flat mortgage.