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WILL OUR ECONOMY “COLLAPSE”?

BUYING GOLD/SILVER, GOLD/SILVER COINS   No comments yet

Not a day passes without a prognosticator preaching economic and financial ruin. Such a dire prediction stirs fear in the hearts of some yet supports a state of denial for others. Personally, I don’t believe in the school of economic collapse, at least not in the typical sense we so often read of. I believe the economy is and will continue a course of correction. Now, let me be perfectly clear. This correction could potentially feel like collapse since far too many are socially, spiritually, individually, and economically prepared for anything other than a stereotypical state of normal.

I blame a government that refuses to instill individual responsibility, promotes institutionalization, and….. in some cases – a cradle to grave dependency for such widespread inaction. Unfortunately, physical silver or gold isn’t even on the radar of our ill prepared.

The correction each must recognize affects us individually, and in many ways. Far too many have made the prudent step to buy physical PM (precious metal) but are at risk of becoming a short-term PM seller stemming from a lack of overall preparedness. In other words, they will sell their metal, to continue living a life of normalcy, just when they most need PM. This could come from desperation or it could come from monetary ignorance; it’s just too soon to tell .

The collapse (as most put it) is happening as you read this….. all in slow motion. Ask the man on the street and they will quickly point out a lack of good paying jobs. Ask a banker and they will say the problem is a lack of credit. Ask a politician and they will lay blame on the opposing party or a previous administration. The fact is all the above are 100% correct, but this does nothing to help our situation.

Nothing will stop today’s course of correction because too few are willing to acknowledge the destructive nature of overpopulating a currency. This neglect is building into a monetary civil war within the United States. The type of person willing to trade dollars for PM suffers great anxiety by living in a country that is no longer willing to address our economic challenges with rationality. This is why we’re reading about states proposing legislation in hopes of creating an alternative currency (Utah, Arizona, etc).

Our country has far more to lose from conflict than economic collapse. A divided nation is vulnerable from within, vulnerable from afar, and everything between. Why else is it so many folks like you view PM as the get-out-of-Dodge-card? Wealth stored within physical silver or gold provides an option, or luxury, most will never realize. In my opinion we are well beyond asking “if” our economy will collapse.

What now?

Without fail there is one common question asked when I consult with folks about buying and storing precious metal. They all ask if there is anything else they should be buying or doing other than whatever it is they are actively “doing”. These folks fail to recognize that they’re miles ahead of 99% of all other Americans, politicians, financial planners, economic advisers, accountants, etc. This is what a call the “what now” syndrome.

I’m convinced that a person willing to make the effort to buy physical PM has what it takes to answer the what now on an individual basis. Since you’re reading this post I congratulate you and your ability to actively pursue a personal stake of individuality in a day of complacency. Your next what now could be a career change or it could be relocating where your family calls home. Your next what now could be the start of a plan that includes internationalizing your wealth or it could lead to internationalizing where you live.

Four years ago, my what now led me to relocate my family from a high taxation state to a less populated  and more independently minded fly-over state. Over ten years ago my what now led me to trade dollars for physical gold. The what now inside you could lead to gardening, reloading, campaigning, prospecting, serving, fasting, start-up business, downsized business, who knows? Whatever your what now is please remember this. Owning precious metal should be the monetary foundation of a life commitment to self reliance so that compromise is never a word atop of your to do list.

Let everyone else worry about economic collapse while you focus on reality.

QUESTION:  DC, last week we found out some silver American Eagles circulating around the US and Canada is actually counterfeit reproductions made in China. What steps can a small silver investor like me do to safeguard against fake bullion? Thanks for your work at TPS.

TPS Reply:  Thanks for the worthwhile question. The silver counterfeiting you mention has me greatly concerned for many reasons. Far too many folks view silver with skepticism, this news will only compound the level of silver confusion. It’s easy to say the odds of buying fake silver are low but very real for the few who actually find themselves as the unlucky few.

As silver inventories shrink the benefits of counterfeiting will rise. If crooks are willing to counterfeit legal tender this leads me to believe counterfeit (silver) bars and rounds is a bigger problem than anyone would like to believe. I view this as even more reason to buy from reputable sources who will stand behind every single ounce sold.

The fake silver problem will worsen as the secondary silver market grows because the secondary market is much less regulated, not to mention limitless. As of May 2013, I see no reason to buy fake bullion since the majority of silver sold transfers directly from the mint to the end user (you). I will admit such an opportunity is growing short as demand for silver bullion outpaces output.

I encourage each silver buyer to educate themselves on the sounds and feel of real metal. Real silver bullion is impossible to replicate if a buyer takes the time to look beyond appearance. Feel free to contact TPS for a list of reliable silver sources if you have any doubt.

QUESTION:  Are you buying silver rounds too?

TPS Reply:  Thanks for the tiny question. No, I’m not buying rounds at this time but I will as soon as legal tender bullion supplies dwindle to the point of what I feel are reasonably priced. Silver rounds usually cost less than legal tender coins; this is because anyone can legally mint a silver round. Some private mints will accept your larger silver bars and then melt (mint) the large bars into one ounce bullion, very cool. The fee for this service is minimal compared to attempting to sell a huge hunk of silver.

I like to buy recognizable silver when possible. Also, legal tender bullion will not trigger an IRS notification when a buyer sells bullion back to a PM dealer (please use due diligence since tax laws change quickly).

This doesn’t mean I wouldn’t but silver rounds, just not at this time. Thanks again for the question.

 

DC Carlton is founder of The Prospector Site and author of the Amazon Kindle #1 Bestseller Why Silver and Gold Will Go Higher and Storing Silver & Gold. If you’re looking for trustworthy PM assistance feel free to contact DC regarding his personalized consulting service. TPS doesn’t sell silver or gold; we represent you, the buyer, looking for affordable precious metal from honest trustworthy sources. Feel free to register here for his free online newsletter that provides precious metal insight rarely mentioned from mainstream media sources.

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GOLD & SILVER PRICES FOR 2012

BUYING GOLD/SILVER, GOLD & REAL ESTATE, GOLD & SILVER, GOLD AND MONEY, GOLD/SILVER COINS   No comments yet

Boy, have you noticed how misinformation is the new media normal? Not a day passes without some Talking Head leveraging a month or three of economic improvement as a road to recovery.  No wonder the masses find themselves confused, confused with gold, confused with stocks, confused politically, and more importantly, confused who to believe.  I have no way of knowing the percentage but willing to bet 80% of all economic predictions as inaccurate.  Why? Because most promoting recovery have a vested interest in folks like you reacting by borrowing, spending, and buying what most don’t need. Don’t get me wrong, I’m all about strong stable economies but only when free market based and not deficit driven.  Nevertheless, this type of inconsistency encourages many to a relatively unknown asset like PM (precious metals).


I want to lead off with a very brave PM statement on my part. I have no idea how high (in USDs) gold or silver will rise in 2012. If both metals follow ten-year averages, gold should finish 2012 around $1845 (oz) and silver around $34 (oz), respectively.  If things become volatile in Iran, and if oil exports decline, these PM numbers could be low, very low.  A cool feature of gold and silver is  how each performs, or reacts, to oil and inflation. I can’t predict PM values since I can’t predict inflationary influences or oil volatility.  Gold will do what it must to form equilibrium of value, regardless of dollar value. This confuses most savers today, most want to hear a sharp-dressed expert analyze percentages with confidence and trust. After all, like real estate of the past, most ballooning assets grew vertically unabated. 

But gold and now silver too, are not typical investment assets. Both metals are now worldwide currencies. As currencies, both metals are beginning to find favor just as all fiat currencies print themselves worthless. This is why your stash of gold/silver’s buying power grows; this has little to do with investment demand.  Many of us new to PM fret over how much to buy or how much to pay not realizing today’s prices are relatively insignificant over longer term. Sure, each should take advantage of PM dips but ultimately the goal is to own real money in a time of massive monetary execution.  We can debate junk silver to legal tender, gold bullion to Pre 1933 coins, but at day’s end it’s all about ownership!

I want to go back to today’s economic inaccuracies for a moment.  Just last week the media repeated a wheelbarrow full of misrepresentations that I want to rebut.

(Reuters) – Federal Reserve Chairman Ben Bernanke on Tuesday took aim at proponents of the gold standard, saying that such a system handicaps the government’s ability to address economic conditions. More.

PROSPECTOR REBUTTAL: This is true. This is also the primary reason to anchor monetary actions to something like gold. This is  the only thing “real” offering those elected fiscal restraint. But very few media minded question such fact, very alarming.

WASHINGTON (Reuters) – The battered housing market looks to be on the mend as buyers make a tentative return and house prices stabilize. More

PROSPECTOR REBUTTAL: I wish we each had an ounce of gold for each time our media projects another housing recovery. The facts, our mortgage industry are 90% dependent on Fannie/Freddie along with artificially low-interest rates. The problem arises when we expose the billions Fannie/Freddie bleeds all while taxpayers remain indebted to an industry unwilling to allow our housing industry to bottom. Housing is no where close to “on the mend” or about to “stabilize”. Please don’t get me wrong here, I’m a huge fan of residential real estate and would much rather own a condo next to the beach than a stack of silver coins, but.

This is more important than some realize, here is why. Whether we realize or not, we make financial decisions according to how optimistically we view or future.  We scale back personal spending if things look dire and the opposite if things look promising, this is the American way. We re-elect politicians if our future looks promising and we vote out politicians if it doesn’t.  One party portrays gloom while the other promotes opportunity and recovery. Not sure which represents fact?

WHAT DO YOU THINK? PASS YOUR COMMENTS & QUESTIONS ALONG RIGHT HERE.

COMMENTS & QUESTIONS:

COMMENT:

Buying gold coins right now could be the smartest decision you ever make during this economic crisis. There is a huge economic storm that is coming to a head, and people holding on to dollar related assets are going to suffer the most. There is a lot of hype out there about a recovery in the stock market. Let me just say one thing for sure. There is NO recovery! You can not have a jobless recovery.

PROSPECTOR: Thanks, I couldn’t have said it better. The recovery bandwagon is politically motivated and here is how I know this as fact. Not one promoting recovery warned prior to the economic collapse of 2008. Why? Because focus is more about appeasement than what is best for our children’s future.  You’re also correct in recommending gold coins and let me take it one step further, if I may. Why not buy gold coins as close to spot all while paying as low a premium as possible? Remember, we are not collectors, not most of us at least, and our primary interest is within the metal itself.  Your point about dollar related assets is also “spot on”. Thanks for the insight, and comment.

COMMENT:

The gold price Australia is high at the moment. It will be a great time to sell your gold on the market!

PROSPECTOR: Okay, I’m willing to pass on a shameless plug for our friends Down Under. My question, why sell gold just because the market is high?  I understand this as good for your business but scrap gold is just as valuable as any, relatively speaking.  We often hear readers ask about selling scrap metal to buy bullion but I don’t necessarily see the benefit. Gold is gold, even scrap gold. Thanks for commenting and you’re welcome for the plug.


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IS USA TURNING “THIRD WORLD”?

BUYING GOLD/SILVER, GOLD & REAL ESTATE, GOLD & SILVER, GOLD AND MONEY   No comments yet

Is the USA slipping toward third world status?  It almost sounds too far-fetched to even ask.  This very question came up over the holiday season and, to be honest, I hardly gave it a thought, at first.  But something I read recently brought me to question direction of this great country.  It was a poll asking voters their biggest fear with several options provided.  The results are nothing short of remarkable, no concerning, and I want to share the number one fear of folks living in the USA today.  According to EcoHealth Alliance (Oct/2011), your number one fear, at least 63% of us, is the fear of economic collapse.


You owning gold today is all about calculated risk as much as anything. Ask yourself if possibility of severe destabilization is probable enough to implement something as drastic as buying gold & silver.  I wish I could say we are overreacting and the need to protect is overblown.  I wish I could recommend all metal holders to sell their stash of security and use the proceeds to knock an item or two off their own bucket list.  But as hard as I wish, as hard it is to imagine, the facts clearly show a downshift of economic status even for a superpower like the USA.

Day after day, week after week, I find myself wanting to write about what, when, and how much metal to buy, but I can’t. For some reason I find myself spending more time justifying gold ownership than anything else.  I argue for gold because I understand the protective powers of something as simple as physical gold & silver; real money.  Today is no different as we look at examples of countrywide decline then ask ourselves the question few want to, “Is the USA turning “Third-World”?  Please don’t mistake today’s post as a dig against the American spirit.  We believe in America as much or more than the next guy but realize all things have limitations.

Every person in charge will agree the first step to solving a problem is to agree on facts. The fact is inflation and entitlements, funded by growing deficits, are collapsing the support legs of this country, most countries in fact.  The results are simulation of a third-world existence.  But most folks don’t realize this as a problem.  They must not or they certainly would hold physical gold or silver as a form of self-protection.  Let’s take a look at an example of how this is happening even today.

We can use health care or education as prime examples. Since a college education is most inflated let’s use education this time.  The cost of a college education is as expensive as ever in history.  College education costs have outpaced gold’s growth, health care, oil, and everything else.  Now one would think, in a free market society, that colleges would compete with each other therefore driving prices in line with income, right.  Nope, the rise in costs to attend college is a direct result of government grants and loans over anything else.  Disagree?  Well check this out; the total of all college debt now surpasses all credit card debt (USAToday.com), all because taxpayer money supports a collegiate bubble.

If college talk doesn’t excite you then let’s substitute something that does. You can easily switch the word college for housing, college for health-care, college for food, college for unemployment, college for retirement, etc.  The fact is prices of things we all use and need are supported by debt (deficits) and the cost of each grows not by free market forces but intervention (government inspired inflation).  This intervention appears to have our best interest in mind but actually only drives up costs of what you and I consider necessary.  This intervention, inflation, chips away at our middle class like nothing else can.

If dealing in facts, let’s take a look at one more. The fact is you cannot change government intervention, inflation, anytime soon.  You and I have one vote but we do have multiple choices.  We can pack up our sh…  sorry, stuff and move to a state less government dependent.  We can take control of inflation by rinsing dollars into precious metals.  We can take control of what we can control and then work on the other stuff each November.  Until then, we must pray our country’s name doesn’t make it to a growing list of Third World countries.

Sometime between unwrapping gifts and popping Champagne something monumental occurred we all should be aware of. U.S. debt now equals our countries GDP for the first time.  What does this mean for the guy on the street?  We now work to pay debts of our past as much as goals of our future.  Like real estate, our country is underwater, debt speaking. We have accepted the only option is to increase debt to support a diminishing way of life.  Sound ridiculous?  Look at cities like Detroit, San José, and hundreds of others.  The best these cities can hope for is federal bailout, via more national debt, to patrol streets, fix roads, and keep up simple law and order.  The only thing standing between our definition of USA and “Third World” is growing debt.

This is how I see it so tell us your take.  Have we exaggerated the problem, is your city faring better than most?  Does gold/silver fit into your plan for protection and prosperity?  Let us know your thoughts here. As always, thanks for spending part of your day with The Prospector Site.


YOUR VIEWS:

Comment relating to “Something Strange is Happening with Gold”

A few coins/bars are nice to have ‘just in case’ but, for me it’s a better idea to have beans, bullets and bandages to add to the coins. Look for March to come roaring in like a lion; the can was only kicked down the road for a couple of months…

THE PROSPECTOR SITE REPLY:  Thanks for the comment, and your opinion.  We do agree that preparation mixed with self reliance is best.  Not sure about March’s prediction to  be truthful.  We see a tipping point not so much related to one event or a debt dollar amount.  We see a tipping point more based on emotion than anything else.  Emotions are hard to predict but when enough have had enough then, and only then, will we see a change. We recommend owning gold/silver prior to the awakening of the masses. Thanks for your comment.

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THE TITANIC COURSE FOR SOME GOLD HOLDERS

BUYING GOLD/SILVER, GOLD & REAL ESTATE, GOLD & SILVER, STOCKS AND GOLD/SILVER   No comments yet

I can only imagine the horror aboard an unsinkable ship that took the lives of 68% of its passengers.  I wonder how many passengers boarded paying little attention to an inadequate number of lifeboats?  Do you want to really know why so many perished in the frigid water this dreadful night?   From passenger to captain, from shipbuilder to designer, they all assumed everything was fine and failed to prepare for uncertainty.  History makes it obvious to us but only because of hindsight.  How many of you are sitting on the sidelines wondering if the economy is as bad as it is? How many of you are counting lifeboats?


Something very odd happened during my recent visit to the US Mint in Denver. As most watched dimes, nickels, and quarters pressed into legal tender I noticed a very concerned look on the face of our armed guard as he stared out a window. I joined my guard noticing a late-model car with its windshield completely smashed and several armed guards standing beside it.  I asked my guard what happened when he explained a roofing crew was working atop our building and must have thrown old roofing off the roof top and straight down on top of this new car.  The roofer assumed it was OK to toss debris from a three-story building without looking, maybe this is why they were the lowest bid?

How many of us assumed a good college education would equal a prosperous career?  How many of us assumed our homes would always be a safe store of value? How many assumed 401(k), stocks, bonds, and savings would provide more than enough income as we prepare for retirement?  How many assume buying gold is all they need to protect in times of economic collapse?  It concerns me how many jump into a lifeboat of gold only to soon realize even their lifeboat has a hole in the bottom.  It amazes me, even in this day of economic calamity, how many willingly buy gold from experts (advertisers) without fully understanding why they should.

I have received several emails complaining www.theprospectorsite is not defining enough with our information on purchasing gold and silver.  Some feel spending a few minutes in front of their computer should provide enough knowledge to make lifelong financial decisions.  I’m sorry but it’s not this cut and dry, not by a long shot.  I have spent over ten years trying to grasp the power of gold and silver only to realize I know so little about it.  Gold and silver can help stabilize ominous times but personal effort is needed to not be taken advantage of.  Education (knowledge) is the first and most important step to stabilize these economic waters.

The faint yet growing sound in the distance is no doubt the herd working its way toward gold and silver. Some in the herd will buy worthwhile metal finding protection there.  But most will follow salespeople’s recommendations trading dollars for high premium rare coins, numismatics, risky gold stock, and fake metal.  All will truly believe they’re protected finding false satisfaction in their prudence when actually most are taken advantage of.  Just like useless educations, just like homes that aren’t really assets, and just like trusting misguided financial planners.  Just to be clear I’m not saying rare coins are unwise I’m saying rare coins are unwise for the uneducated metal investor.

So where are you standing during what history will write as the greatest wealth transfer of our lifetime? I’m guessing since you are 600 words invested into this article you’re searching for the safest path to financial independence.  Congrats for taking the time to do this.  If you are searching for gold/silver buying advice let me say just this.  Buy gold and silver from someone trusted yet buy as close to spot price as possible.  Gold and silver bullion and rounds are a perfect start and a quick visit to our friends over at Gold Shark will provide competitive online buying options.  Your local coin shop will be slightly higher but possession is immediate in most cases.  Know what you’re looking for and what market value is BEFORE buying.

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RISING TIDE OF ECONOMIC COLLAPSE

GOLD & SILVER   1 comment

Folks in North Dakota have hands on experience just how destructive swollen rivers are to homes, farmland, and lives.  As you read this post many in this state are asking how high the water can get and how much longer extended dirt banks can hold back historical flooding.  I’m willing to bet where you call home will not be affected by this flooding but what you may not realize your own water of concern is rising and now is the time to ready for the economic flood.  Today we look at the rising tide of economic collapse.


We recently posted asking how much silver is enough to protect in this age but the fact is just like the state of N.D. had no idea how high the water would rise neither do we from a collapse point of view.  For certain debt, inflation, housing, and overall economic water is rising and those unprepared will find it most destructive.  Most don’t realize how powerful gold and silver are as economic sandbags by holding back ill effects of debased dollars and will only realize when swelling costs put ownership beyond reach.  Like North Dakota, the severity of the situation sweeps possessions away as helpless watch and worry.  You don’t have to be a victim.

WHY GOVERNMENTS CAN’T HELP:

Daily we watch world government leaders meet trying to solve what governments caused.  People protest loudly but their cries are misdirected and energy wasted.  Most governments are reactive to problems or issues long after they have taken root by choking out true prosperity.  Every century or so it takes a wall of water to flush away everything allowing new growth and those willing to bury dying industries to get to work.  What we are seeing today is a flushing of top-heavy governments indebted in entitlements no longer able to keep promises made long ago.  Again, the economic water rises and soon to be victims cry for help to the same source that opened floodgates.

Ben Sherwood in his book Survivors Club points out most people become victims of disaster because they never plan what to do if the situation arises.  He points out how witnesses of a subway fire tell horrific tales of folks not running for safety but asking others fleeing if this life threatening disaster could delay their travel.  Unwilling to face the tragedy and unprepared to help themselves.  If you are new to gold or silver ownership and asking how physical metal can protect your family please keep reading sites like this and others to fully grasp the insurance value of precious metals.

YOUR PART:

The Prospector Site is not as much a promoter of precious metals as it is an advocate of self-reliance.  The best person to handle your savings is the one reading this post.  The days of blindly trusting others to protect and grow savings are over and now replaced with self-educated willing to protect their own interest.  Physical gold and silver should be top of this list of independence along with anything else that provides a buffer of self-reliance.  Several times we have posted how many individuals will grasp this trend and profit from it.  I hope it’s you.

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BACK STORY ON GOLD, WALL STREET, & MAIN STREET

BUYING GOLD/SILVER, GOLD AND MONEY, STOCKS AND GOLD/SILVER   No comments yet

The article’s title read “Two years after end of Great Recession, how are we doing?”  You may have read this article and if you did I hope you found it interesting.  However, this site deals with facts and since I’m not a staff writer for whatever publication ran it I will post the rebuttal on my own site.  Let me bring those who didn’t read it up to speed.  The article writer compared the recovery viewpoint from several different perspectives.  One perspective is a person that might have a negative view if recently laid off.  Another perspective is from a person that can’t sell a home.  But the positive perspective is one flush with earnings derived from the stock market since the market has done fantastic since the 08 collapse.  Today we look at the back story of gold, Wall Street, and Main Street.


MAIN STREET:

I love Main Streets.  It doesn’t matter what state or town I love driving off the interstate and slowing moving down Main Street USA.  Most towns are “built” around a main street, maybe this is why it’s called Main Street.  Generational businesses owners sweep sidewalks cluttered with wind-blown leaves.  The flower shop hangs a sign in the window showing the daily bargains for the town to see.  Good people who have no delusions of getting rich but simply enjoy the independence of proprietorship, fellowship, and opportunity.  Most days I will drive past a box store to spend slightly more at my local hardware store, I bet you are the same way.

The article mentioned above speaks clearly how Main Street has suffered since the Great Recession of 08.  You can almost read between the lines how Main Street may not know but prosperity is less than a block or two away, at least according to the writer.  The fact is prosperity ran the last stop light leaving town sometime ago, it’s in no hurry to come back anytime soon.  This leads us to ask why Wall Street hasn’t felt such pain.  After all, wasn’t it their risky business practices that contributed to the crash of 08?

WALL STREET:

You must know where this is going but it will be said anyway.  Wall Street’s relationship with government is sketchy at best and time will show the level of corruption, manipulation, and theft.   Again, the above article boasts how most smart enough to invest back (post 2008) into stocks have prospered and surely feel the worst is behind us.  The name of the Wall Street game is profit and this is exactly what is happening right, wrong.  Wall Street would be in the same despair as Main Street, profitability speaking, if not for trillions of your taxpayer dollars flowing into too big to fail companies.  The reasoning, it is for the good and protection of all but my question is if it is for us all than why does the bailout money go to just a few?  A few that pay themselves plenty I might add.  Wall Street should have the same wind-blown tumble weeds Main Street is seeing, and most likely soon will.

GOLD & SILVER:

If I had to choose between a healthy Main Street and profits of gold it would be Main Street hands down.  But the fact is I can’t control this situation anymore than you can so my choice is to protect my family the best possible.  Gold and silver are strange creatures.  They have been the financial grounding rod since Biblical days, Jesus was betrayed for a small amount of silver, and to this day still have a practical place in economies.  The oddity is precious metals have great value today without stimulus, bailouts, or tax credits.  Most in governments would like to see it go away but the stuff keeps hanging around.  The dislike, gold is the economic full length mirror most just don’t want to see reflect accurately back.  Gold, and silver, point out our weakness, greed, mistrust, and fear.  If you are one of the many that doubt gold please take a few minutes to research a long-term comparison of gold and fiat currency.

You may be watching for a good entry into precious metals and this I understand.  The truth is 5% or 10% over or under matters little or less in the overall picture of gold/silver potential.  The important thing is to personally own some, yes that simple.

NEWS WORTHY?:

WASHINGTON POST: Lack of retirement savings makes entitlements sacrosanct

“Most households have no retirement plan other than Social Security, and the average American family has not saved enough to maintain its standard of living in retirement,” said David Wyss, chief economist at Standard & Poor’s Corp.

The average Social Security check, by contrast, is about $1,200 a month.  Very concerning but you can read it here.

MARKET WATCH:

THE ECONOMIC COLLAPSE:  The Unbelievably Rampant Corruption On Wall Street

*The really sad thing is that fraud is very, very lucrative. Executives at many of the big banks that received large amounts of money during the Wall Street bailouts are being lavished with record bonuses as millions of other average Americans continue to suffer economically. Even the CEOs of bailed-out regional banks are getting big raises. It must be really nice to be them.

The truth is that Wall Street is full of rip-off artists and fraudsters who don’t even try to hide their greed anymore.  Read it here.

NEWS WORTHY:

REUTERS/MONEY CALL-Durable gold’s hold for long-term investors

“The reasons for buying gold haven’t diminished,” said Jeff Clark, the Sacramento, California-based senior precious metals analyst for Casey Research. “Unless we change course of how we handle the debt and deficits, there is a good reason to buy gold.”

A deepening budget crisis in Washington has gold sailing high again in some buyers’ dreams. The reason? A budget crisis could trim the currency further. Gold’s strength comes largely from the erosion of the dollar, which has lost 37 percent of its value since its last peak in mid-2001.  Great read here.

FAIR PRICES IN GOLD (9:00 am MDT)

  • ONE OUNCE SILVER BULLION:              $40.77

  • ONE OUNCE SILVER ROUND:                  $38.12

  • ONE OUNCE GOLD BULLION:                  $1615

  • ONE OUNCE GOLD BAR:                            $1576

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