(snippet)
You remember Biggs: In his book "Wealth, War & Wisdom" he advises his high rollers to prepare for a "breakdown of the civilized infrastructure." Buy a farm: "Your safe haven must be self-sufficient and capable of growing some kind of food ... It should be well-stocked with seed, fertilizer, canned food, wine, medicine, clothes, etc. Think Swiss Family Robinson." Biggs is not advising small investors on what to do with their 401(k)s.
If you're gambling at Wall Street's casino, folks, the odds-makers are betting against Biggs. It's "game over."
Main Street lost 20% last decade ... yet like sheep keep going back
Yes, if you're channeling Chick, here's your "mixed metaphor" cue card: "This game's in the refrigerator ... Wall Street won (proof, Goldman's $100-million-profit trading days and Blankfein's $68 million bonus) ... Main Street's headed for another losing streak ... Congress' lights are out ... the refrigerator door's closing on financial reforms ... the lobbyists are laying some rotten eggs, poisoning capitalism ... the Tea Party-of-No-No ideologies are hardening ... the bull's Jell-O is jiggling to a flat line ... and this market's going into hibernation, with the bears ... run, don't walk, to the exits, folks."
But will Main Street exit? Will we ever learn? No. The Wall Street casino makes mega-billions for insiders like Blankfein and the Goldman Conspiracy. Yet "The Casino" is still below the 2000 record of 11,722. So after accounting for inflation, Wall Street lost over 20% of Main Street's 401(k) retirement money between 2000 and 2010. Yes, Wall Street's a big loser the past decade. Their advice is self-serving. Period.
Given their miserable track record, only a fool would bet with Wall Street. Betting odds are Wall Street will lose another 20% in the next decade from 2010-2020. Yes, today's market is a "buying opportunity," but only for Wall Street casino insiders like Biggs, Blankfein and even low-level staffers inside "The Casino." But not for our 95 million Main Street investors, there's more pain ahead, this market's dropping.
Correction? New crash imminent, worse than 2008
More proof: Earlier economist Gary Shilling said price-to-earnings ratios are at a "nosebleed 22.5 level." The Dow was around 11,000. Money manager Jeremy Grantham recently said the market's overvalued 40%. That could mean a collapse to 6,600. Last week in Reuters' "Markets Could Be Derailed Again," George Soros echoed a "game over" warning with a "stark warning ... that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis."
Now Dow Theory's Richard Russell is warning the public of an imminent crash: "Sell ... get liquid ... by the end of this year they won't recognize the country."
More Here..Customer Stuck with Counterfeit Money from the Government?
More Here..
This is not news...the government has been passing us counterfeit 'money' for years. Federal Reserve Debt Notes are not real money. Per the Constitution, real money is issued by Congress and is backed by, and exchangable for, silver.
ReplyDeleteOf course, one can still find suckers willing to worthless trade debt notes for physical silver, and you should take advantage of them as much as possible, while you still can.
I bought some more silver coins last weekend myself. Silver dimes, quarters, and the like are still relatively cheap and even those with very limited incomes should still be able to pick up a few every week.
May 24, 2010
ReplyDeleteOn This Date In History
NOTHING HAPPENED
EA, great article. Thank you for putting up articles to help us understand what is going on. It is interesting again that the big boys are recognizing actual events currently at a rate of 2 to 8 weeks after we hear it here. The goober that keeps bringing up the May 24 issue above... forgets that this came from one of your "Post a Comment" folks. If the dow continues to drop it will likely mark the beginning of downward trend in the market as it corrects itself. Truth is, I sold my aggressive investments on Friday and put my money in conservative investments. I will buy back in after the tank. I know there are some here that hope for a permanent mad max social breakdown, but I don't expect it. I believe all out nuclear war or 3 carefully placed EMPs would be the only thing that can cause a more permanent breakdown sending us back to 3rd world status for an extended period of time. Don't get your hopes up folks. You may be disappointed. Having said that... I have a pantry well stocked, a shot gun loaded with substantial ammo, and I have other personal skills. So I guess you could say I am as ready as I can be at the moment.
ReplyDeleteMay 24th is the day the roller coaster market crested the top of the big hill.
ReplyDeleteIt's all down from here.
something did happened the date came and left.
ReplyDeleteAnd now YAHOO finance is saying there will be a crash, though I just heard on the radio fake news the market is down "and it's a good time to buy stock". Just how stupid are the sheeple?
ReplyDeleteFor those of us living in reality, not sheepality, we know what is coming, too bad to all my friends and family who will loose their fortunes, I warned them and they said 'BAAAA'.
Up or down, why do people want to put their money in an obliviously rigged, crooked game? Amazing.
ReplyDeleteIf you thought May 24th was exciting, wait until May 31st. You ain't seen nothin yet!! Get yourself out of stocks and into PMs. I prefer iron ore because it matches my color.
ReplyDeleteI told friends to bail out of the stock mkt and S&P early in the year..most didn't listen after giving them news and info from economists like Celente and R. Russell, etc. I don't feel sorry for any of them as people in the know understand the risk. Retirement for many (those closer to retirement) will be impossible because their 40lk tanked. At least 5 years before retirement, people need to pull out and get into something safe. Many years can pass before it goes back up.
ReplyDeleteA new way to devalue currency?
ReplyDeleteJust wait until June 8 ! This date will change your life!
ReplyDeletewho ever you are posting stupid dates making people anticipate something that would not occur.
ReplyDeleteget a life.
No no! wait until August 12th and November 8th! I don't know what's gonna happen in those dates, but it scares people so there ya go! Seriously tho this whole date thing is pissing me off. No one can predict shit, so please.
ReplyDeleteOh take another pill! lol
ReplyDeleteMeanwhile back at the gulf:
ReplyDeleteNow so far nearly one million gallons of highly toxic “Dispersants” have been sprayed or injected directly at the wellhead into the gulf by B.P. in a great cover up to sink and hide the Oil seen on the surface.
One Million Gallons !A crime against humanity and life for profits , Permitted aided and abetted by the US government of the Corporate State.
In this Case a “Democrat” dumbocracy semi -monarchical President . But does anybody believe that it would have been different under a Republican Semi -Monarchial Bush /Oilman / Cheney /Haliburton Dubya atyle Dumbocracy presidency?
So enough of the "Obama is to blame" nonsense He and Bush are simply puppet frontmen For the Elite Class.
See:
“Are they purposely killing the Gulf?”
The media is hiding very important facts .
By J. Speer-Williams — Instead of using safe, non-toxic ways to gather up the rogue oil gushing from their incompetence, or planned cataclysm, the private Cartel is using an extremely toxic chemical dispersant, with the approval of the Obama administration……Obama’s Environmental Protection Agency allowed BP to turn our Gulf of Mexico into a toxic testing ground, instead of removing the crude oil. British Petroleum (BP) has even refused to use their own oil tankers, lying in the Gulf, to suck up most of the runaway oil, and possibly salvage it for sale later, as was done after a Saudi spill in the ‘90’s. That method was so successful, it vacuumed up about 85 percent of that renegade oil.
More at:
http://dailypaul.com/node/135449
Anonymous said...
ReplyDelete"Up or down, why do people want to put their money in an obliviously rigged, crooked game? Amazing."
Each clever participant in these games beleives ALL can get rich at the expense and out of the pockets of the other shareholders.
Logical?
The bankster/bookmakers commission agents have derivitive bets and other scams like packaging up dud bonds to ensure that whatever an indiviual may win or lose the bookies will win every time ,whether the market rises or falls .
Logical.
The Guy with those Fake $100 bills made out of $5 bills should just hang on in there !
ReplyDeleteThe way Ben and the gang are printing money freely a $100 bill should soon only be worth $5 anyway.
But hang on a bit?
On the other hand.
What will a $5 bill be worth then ?
FEDCO. A subsidiary of UNION JACK, INC. Operating under permission of THE CITY of LONDON, and VATICANCORP. The same conglomerate of inbred deviants that have been no lube effing you for the entire history of the United States. But we were forewarned from the outset that the fight that was freedom could never end, or freedom would end. I think there are a great many Americans that would fight, but they just can't get beyond the advertisements of the corporations njewscasts telling them everything is airy mon. It's soothing to float in the baths of fiction, but realize that underneath are deep cold waters filled with circling sharks, waiting for that panicked movement that means it is time to feed. People, beware that you still grasp desperately to pieces of worthless paper when the truth of your life is before you. The prophets and the philosophers have not lied when they told all of us that money is not god, that we are God. Money is a worthless fiction, which when believed in makes us each a participant in worthless fiction. Those that continue to sell us their mark, will surely be the first to be crushed. Disavow yourself from its worthless insignificance, and avow yourself to the real truths in your life.
ReplyDeletecurrency itself is counterfeit.
ReplyDeleteIt is well known that Americans are all simple minded "Schmuks" easily fooled.
ReplyDeleteWhole businesses have ben built on that fact, including Hollywood and Fox News as well as the Fed.
May 21st, I pulled completely out of the stock market. Had a nice gain from inception in April of 09, then saw a couple of thousand or more go away in less than a week, and I said to myself "hey, my gains are four times what I had hoped for" so I bailed. Gold, real estate, silver, paper and oil is the proper way to divest, not mutual funds. The clowns have truly taken over, bunker down, the rest of the year will not bring back the high I saw early in May. If it does, it's puff daddy.
ReplyDeleteIt's a shame you don't have a donate button! I'd certainly donate to this excellent blog! I suppose for now i'll settle
ReplyDeletefor book-marking and adding your RSS feed to my Google account.
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