rocketThe admission that the economy is so weak that it needs more QE is going to destroy the narrative that the U.S. economy is in great shape and it’s no longer going to be the safe haven for capital around the world…it’s going to prick the bubble in the dollar…and people are going to realize that we’ve never recovered from anything, the economy is sicker than ever, the Fed’s going to make it even sicker with more of its toxic monetary policy, the dollar’s going to tank and the price of gold is going to skyrocket and people need to prepare for that now. 

 

Buy Silver Buffalo Rounds at SD Bullion

Submitted by Rory Hall, The Daily Coin

When Mt. Vesuvius blew, no one knew when it would happen or how big the eruption would be.  Everyone knew a volcanic event was going to occur and yet, the magnitude of the event caught a lot of people by surprise. The eruption destroyed two Roman cities and several surrounding settlements.  It killed an estimated 16,000 people.  The question is, how come more people didn’t leave the area surrounding Vesuvius when they knew that something was going happen at some point?

The United States financial system – including the viability of the U.S. dollar – is analogous to the eruption of Mt. Vesuvius.  A lot of people know something is wrong – evidenced by the growing support for the Trump candidacy – and yet 99.5% of the population is ignoring the warning signs of a systemic eruption of unknown magnitude.  It’s an event that draws closer with each passing day.

The warning signals of the coming financial markets collapse are in full view.  The warning signal from the junk bond market, triggered by but not limited to the collapsing energy sector, is beginning to spread into and infect the rest of the financial markets like an uncontrollable virus. If you are an investor or a professional money manager, what more of a warning do you need than this:

Untitled

That chart resembles a giant tsunami that has coiled offshore and is getting ready to slam into the the nearby beach. Only in this case millions of people remain on the “beach” to watch the horror show unfold without leaving for safer ground. It’s as if everyone knows a catastrophe is about to occur and yet most remain embalmed with the hope that it can’t really happen.

The willingness of people to park their paper in financial assets like bonds is simply a function of their lack of understanding of problems that exist and their false confidence in Central Banks.  – Peter Schiff

The systemic causes of the financial crisis that hit in 2008 – and which was really a de facto financial system collapse – were never properly treated. Rather, they were medicated by heavy doses of money printing and free money, the latter which is otherwise known as ZIRP. The moral hazards of this monetary policy have fomented in impending systemic eruption which will be the financial market’s equivalent of the historic Mt. Vesuvius volcanic blast. The timing of this is just as unpredictable as the consequences.

The Shadow of Truth hosted a conversation with Peter Schiff to discuss the impending financial market eruption and the inevitable dollar crisis, which will ultimately rip apart the U.S. financial and economic system:

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  1. Yes, gold/silver will do great… after another “QE” is announced… but why invest more than your core holdings NOW??  Answer… don’t.  The manipulators will still bend you over every time gold looks to “break out”.

    • Whatever JTF …

      You do what you do I’ll do what I do…

      I have been watching Au of late and products have been disappearing.

      I’d hate to get in a 6 week line to make a purchase after everyone finally understands.

      Not taking that chance. I buy when I see a fair deal.

      Just added a Rooster this morning and a Mex 20 pesos this week…

      Little by little.

    • it’s amusing to sit back and watch peoples’ comments over a period of time. you get to see who are the ones who are seriously interested in PMs, and who just pretend to be with a few calculated comments and then use it to lead people away from PMs (mostly the newbies who are still researching). it’s fun to spot them, and even more fun to expose them!

      and often they use “authoritative” type of usernames to add to their illusion of knowledge.

      how much longer can they print currency to infinity? the value of that paper currency is approaching zero, as has done every other fiat currency ever throughout history. do you think it will come to an end at some point? with an almighty crash and burn perhaps?

      that should debunk the statement above to “don’t” buy PMs. IMO (and everyone should do their own due diligence) people should be getting as much as they can now. best wishes with whatever you choose to do.

    • @silver-nurse Holy Cow! Talk about sneaky inflation! Therr are things that are not controlled by the govt (which give illusion of stability) with prices that just dropped my pants last night and ‘bent me over’ financially!

      I have 3 M-44s that I wanted to spice up with custom wooden furniture. (These are actually t-53 chinese knockoffs of no collector value) and people last year had nice thumbhole wooden stocks in various colors for sale on ebay. They ran 60 somthin dollars each. I held off, but wanted to buy them with my tax return this year…. What do they cost now?? $166.00!! Wholly [email protected]! The rifle cost less than that! Even clean mosin nagant m-44 original stocks are costing $89.00! They were only 30 bucks last year! Now I know the president banned russian rifles, but there isnt a shortage of these things in the country, and wooden or plastic furniture for these 100-200 dollar rifles ARENT banned.

    • and often they use “authoritative” type of usernames to add to their illusion of knowledge.

      yeah, it’s quite ridiculous to see the people who have been like “don’t buy don’t buy” for years and here silver is at $14 and they are still saying that.

      i’m buying hand over fist. i’m loading up on CDE, HL, AUY, IAG, AXU… buying options out to 2018 right now. this is it. the game is up very shortly. everyone needs to get their core holdings as high as possible while we still have a few more months.

       

    • @silver-nurse

       

      ” best wishes with whatever you choose to do.”

      Which brings up a critical point in all this.  Once we have done our DD and decided to buy PMs to protect whatever part of our wealth seems justified by the DD, we OWN that decision for better or worse.  All that remains is to live with the results of our own choice in this.  Men and women will do that.  Snivelers will not.  They will blame everyone but the person looking out of the mirror at them.  Life is filled with choices that we all need to make.  The results of those choices are often critical facets of our lives.  So… choose wisely.

       

    • Over the past month I’ve seen quite a few spikes in food prices at the local Safeway store.  I purchased 1 lb of strawberries yesterday and they were $4.99.  Asparagus has gone to $4.99 / lb.  These were 25% and 30% instant increases and granted its winter but still have never seen prices this high.

    • The mental illness displayed by a majority of the commenters here is hilarious to me.  And by the way Sean the people saying don’t buy have been correct(for some years now) Schiff has been a broken record for years.  I’m glad he can still get you excited though.  I’m sure you’ve been buying hand over fist this entire time with your infinite cash.  Cool story bro.

    • @PowerBall

       

      Agreed.  Food prices are approaching scandalous in many respects.  Not only is food moving solidly higher in many places, the containers are getting smaller all the time.  No, we are not fooled by this.  There is serious inflation in the prices of many food items these days.  Bacon at the local market used to be $2.99 a lb.  This is now $5.29 a lb. today.  That is a 77% increase in only about 2 years.  Beef is also up considerably but less so than this.  Sales come along from time to time where some real bargains can be had but the usual prices are up sharply in many cases.

      The Fed, of course, does not count the price of food in its CPI “data”.  Why would they?  It’s not as if anyone REALLY needs to buy food, is it???  Aren’t we all just a bunch of “air plants” that do not need any food or water?  Some seem to think so.

       

  2. Well, here we go again.  “GOLD is going to SKYROCKET!”  Hmmmm, seems like I have heard this before someplace….hmmmmm…..wonder where…seems like I have been hearing that for years.

    It’s no different than saying the aliens are coming from another galaxy or a giant astroid is going to hit earth or Obama is going to die.  If you can’t give me a date, a specific date, a ‘your best guess’ date, then stop flapping your jaws.  Any moron can make a statement, “There is a cure for cancer”! Great, WHEN?  2090? 3055?  Without a date the statement is actually quite meaningless, and even with a date (if it’s 2090!) it may still be meaningless.  These so called ‘gurus’ don’t give dates becasue they are always wrong whne they do and truth is, they don’t have a stinking clue … they just write to ENTERTAIN.  Tired of all the BS.

    Regardless, sound advice would be to continue to amass PM’s, and if gold doesn’t skyrocket until 2090, others will most likely benefit and appreciate your long term vision.

    • wrong.

      read my statement above about people who are serious about PMs and those who pretend to be with calculated comments and then use it to lead people away.

      calculated comment: “…sound advice would be to continue to amass PM’s…”

      lead people away: “if gold doesn’t skyrocket until 2090”, “your long term vision”, like waiting for aliens to come, like waiting for an asteroid to hit earth, etc.

      this argument attempts to get PM analysts to pin a PRECISE date on an event, and if they cannot then attempts to discredit their entire argument. subtle, and perhaps effective upon some, but many can see through it.

      how does the saying go… “it is the time in the market, not timing the market”. it is near impossible (for us mere outsiders) to put a date on such an event but that does not in any way discredit the assertion that it will happen. and really, a great deal of evidence suggests that it will happen much sooner than 2090. perhaps within the next few years, if the criminals cannot control things much longer.

      a big object from space WILL hit the earth. 100% certainty. the evidence lies with the pock marks all over the earth (which have eroded mostly) and the moon. to say that this argument is flawed because i cannot put a precise date on it is ludicrous. ditto for a cancer cure.

      any SERIOUS precious metals investor would understand this and not use such poor arguments. this seems to me to be a (not so) subtle attempt at turning away people from PMs.

      criminals will always have a big smile on their faces and pretend to be your friend.

    • @silver-nurse

      I don’t know who you are and you don’t know who I am.  If you were born after 1964 then I have been saving, collecting, and stacking gold and silver longer than you have been alive.  I received an order just this past week form SilverBullion so I am trying to ‘misdirect’ anyone.  I am just tired of the same freaking false say nothing headlines with NO substance.  If I tell you a rooster can pull a freight train, HITCH ‘EM UP, right there, right now!  If Peter thinks gold is going to SKYROCKET, all I would like for him to say is “sometime next week” or “sometime next year” or “sometime after 2018”.  He doesn’t say becasue he has no idea…like me saying, the aliens are coming, the aliens are coming.

    • Well, not to piss in anyone’s soup, but my comment on all this date nonsense is… I DON’T CARE about any such friggin’ date!  Why would I?  I am well aware of the fact that NO ONE knows the future or can know the future.  That’s not how this reality works.  Because of that, I don’t waste a lot of time on worrying about WHEN anything will happen.  THAT it will happen is as good as we are likely to know, so I go with that and prepare for financial collapse, which is inevitable if not immediate.  Worst case scenario is that I kick the bucket before PMs rise substantially.  OK, so what?  My family then gets the benefit of my PM stacking.  I am OK with that.  Most of what I have done in my life has been for them anyway.  In any case, we all need to relax a bit here and not get our knickers in a twist over something that is pretty much meaningless because it is unobtainable.

    • Silver nurse thinks global capital flows are effected by trolls posting on s doctors.  Imagine viewing the world  through that prism.  People can do whatever they wish with their fiat.  I personally couldn’t care less.  But I do have a problem with the con artists.  These commenters don’t have a problem with it.  Speaks volumes about their character.

    • How can someone give you an exact date and time you clown? Peter is right about the fundamentals that gold is going to skyrocket. The thing with fundamentals is you can’t be sure about the timing. ESPECIALLY when the Fed has been papering over the deficiencies in the economy with all the QE’s and 0% interest rates for the past 3-4 years.

      So 4 years ago Gold was at about $1,900 and thats when the Fed started administering their heroin drugs into the market to make everything SEEM like ti was getting better. So Gold retreated to $1,100 or so…and now that the market and people are waking up to the fact that we have had a phony recovery gold has been going up fast, and will erase all its losses the past 3-4 years and go back up to $1,900 and ultimately head higher.

      People like you are so annoying. Peter has been saying this forever blah blah blah. No he hasn’t really. 3 years is a VERY short time frame. Also, even with the 3 year downturn in gold Peter will STILL be right, just because your […..] self wants to know the exact second it happens doesn’t mean you get what you want.

      All Peter is doing is telling people to buy gold to help them and protect themselves…[……] how he has been saying it forever and how you want to know exactly when it will happen. Do yourself a favor and […..]. There are market manipulators who can delay the day of reckoning a long time considering the USD is the reserve currency still, and you know this. And you even know that the fundamentals are correct because you said you buy yourself. Peter has been right about a LOT, and was telling people to buy gold when the economy was seemingly running along brilliantly back in 2003 when gold was at $250.

      Again, he is trying to help people who may not have been buying years ago like you and still don’t have any gold or silver. So again…[…..].

  3. Its a simple money starvation in America. The dollar will always be king here since the American people never got the QE monies in the first play. How can you have $45 trillion dollars of total fractional reserve banking money to loan out and not do it. Meaning give easy money loans out to the public for simple investment. Seems to me only the gov, gets these cheap loans. The gov doesn’t want the economy doing good it pretty obvious. Then factor oboma scare fines into it. And yes everybody is shell shocked of the 2.5% of your income fine you have to pay at the end of the this year. If you don’t have health insurance.

    • It’s easy to blame Obama.  I do it all the time.  But I think the real players are way above Obama’s pay scale.  Perhaps even above George Soros, Obama’s Master.  Rothschilds, the Bilderberg Group.  You know…   the REAL money people running politics on this planet.

      The best we peons can do is just what we’re doing:   be smart, look ahead and prepare.  But meanwhile we need to be aware.

    • @Xizang

       

      Agreed.  Although it is awfully tempting to shoot the messenger at times, especially when he is such an annoying little prick.  That’s just in our nature.  😉

       

  4. There is currently a cure for cancer – DEATH!!! The host dies, and all the cancer cells die, 100% guaranteed!!!

     

    As for predictions, here are mine: Physical Gold – CNY1,000,000 per gram.

    When? Tomorrow (know hat tomorrow never comes, until it does), hahaha!

    Let’s have a few laughs, at ourselves, and at life. LIFE is meant to be lived!!!

     

    • “Let’s have a few laughs, at ourselves, and at life. LIFE is meant to be lived!!!”

      Indeed it is!  It’s also too short to be wasted on worrying about the things upon which we have absolutely zero effect.  Live, love, laugh… wash, rinse, repeat.  😉

       

       

  5. when the chinese stock market sinks deeper, and the capital flight continues, the chinese government will sure do something to make gold an attractive alternative for the people to anchor their lost confidence. then, the gold will truly take off.

  6. Things are happening right now and those of us who have done the PM prepping have a nice relaxed feeling, especially those of us who are up in Au.  It is really, really nice.

    I read today (but lost the link) that at least five European banks (including mine own Barclays) are in the process of being flushed down the toilet. Ergo it is off to the supermarket to stock up on a hundred more toilet rolls and some cash before they gain parity on a sheet by sheet basis.

    (Found a link)

    http://www.express.co.uk/finance/city/641080/European-banks-heading-for-collapse-warns-expert

  7. @silverine   you got that about the Eurotrash banks.  They went FULL RETARD  socialist well ahead of us, so their banks are much closer to Tango Uniform.  When DBank, the Italian and Spanish banks fall like dominoes, the truest statement about Socialism—It works until you run out of other people’s money—comes home with an excrutiating vengeance. Right now there is not enough liquidity in the system to bail out tens of trillions in losses. Once that rolling clusterbungle of defaults starts in earnest, there is nothing the Eurodips**** can do to save themselves.

    The Muslim Migrant problem will seem like  a Christmas gift compared to the zombification of 350,000,000 simultaneously crapping their drawers.  The Morlocks are on the hunt, looking for Eloi.

    • AGXIIK,

      Like most I had been missing it.  While I have insufficient understanding of institutional finance (lets call it) to properly estimate the risk my intuition is telling me that unless the central banks do something big and do something fast (and I guess that means helicopter money) then the european banking system is toast – which will have knock on effects.

      This brings one big question to my mind:  Are the central bankers so far out of control (within their paradigm) that the system can collapse without them being able to do anything about it, or is it possible that the collapse of one or more european banks can be stopped during the terminal phase and some financial wizardry employed to keep the system going on for longer (a reactive temporary fix aka SHTF avoidance)?

  8. @silverine   I’m taking the stance that all banks fail eventually. Most fail in well under 100 years. Most mid and smaller ones fail in 30 years or less, either total bankrupt failure or bought by another bank, forced to take a low price offer due Fed regulators tired of their poor performance and danger to the FDIC and other insurers of their situation.

    Central banks always fail eventually.  Most fail in less than 100 years. Most mid and smaller level central banks fail within 50 years, victims of their own financial ineptitude,  bad bets,  a war or invasion, or systemic calamity that precipitates their collapse.

    Today, every central bank and every bank, large, medium or small, faces some serious problems that focus on their capital ratios, bad loans, insolvency or illiquidity.  They are victims of their own bad policies, ineffective actions and leverage that was created external to their operations but that which soon infested their balance sheet.  The BIS makes clear the risks and Walter White, former chief economist of the BIS now utters the words  “Debt Jubilee”   Maybe we little people will catch a break because of the incipient and  potentially formalized illegality of the debt placed on our shoulders. I’d don’t who will make the call for JUBILEE but when they do the world will change in ways we’ve not seen in centuries or millenium

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