Thursday, August 19, 2010

Hyperinflation Is Coming And Western Civilization Is About To Collapse

Egon von Greyerz, founder of a gold investment company, spoke with CNBC this morning about the downfall of Western civilization.
  • 0:45 The credit growth since the end of the Gold Standard, along with consumer debt, and the wealth we've created in the last 40 years is based on credit, not on "good times."
  • 2:55 Government post financial crisis have patched things up for the banks with $20 trillion, but the same problems are there. And none of this has helped people, with surging unemployment rates.
  • 5:00 Austerity measures will lead to deflationary collapse, and banks will collapse in this scenario because none of the loans will be repaid.
  • 6:05 The long trends are now a structural decline of the west, which could last 20-100 years, and the east will rise. But China and India will suffer during this correction, with their domestic economies pulling them out of it faster.
  • 7:10 Gold will play a major role in the future because it will be part of a future reserve currency.
  • 8:23 Gold merely reflects the printing of money, 1 ounce of gold is supposed to buy a man's suit throughout history
  • Link Here..
    A Permanent Housing Collapse?
More Here..

20 comments:

  1. What's this guy selling? -- Oh! I guess it's GOLD

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  2. 10:47 Go buy GOLD from a coin store, then. The media has shriveled your brain into believing 50 trillion dollars of printed and air produced paper is better then...? Shit is more useful than paper money, at least we can grow food out of it.

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  3. "Sometimes these basic rights must be demanded. The right to decent housing, a job that pays a living wage, health care, and peace could all be easily achieved in the United States if the economy were arranged with this purpose in mind. Sadly, it is not. It will take a mass movement of working people to re-arrange the priorities of those in power, or to put different people in power, so that the csountry’s resources are directed to those creating the wealth, or in the most need of it."

    A quote from the secondary article. Do we really need this Marxist crap spread on such a fine website as this? This country was never founded on these principles as a basic right. If it where they would have been outlined in our "Bill of Rights". Those principles were a part of a communist manifesto. USSR, Cuba, N Korea come to mind.

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  4. Say what you want. I listened to the snake oil salesmen. I read everything I could about it. I cashed out me 401 and my ira. took the penality and bought 1 oz coins at $439 each. I know it won't last forever so I'll keep reading the snake oil salesmen. How has your ideas been working?

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  5. I rather like silver which has medicinal/industrial uses and is cheap...But ammo, guns and lil camping extras are nice to have.

    Gold sounds like it will be taxed next year if more than $600 worth...So that's a no go...If times get like Argentina I'm buying a shitload of tobbacco and coffee...In the end some people can't live without their nicotine or caffenine.

    You laugh but more than once in the last year I've heard ex-military people...I work with talking about a barter economy at least temporarily.

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  6. Silver is better. You can spend 1 oz much easier than 1 oz gold. And flashing gold is gonna draw unwanted attention.

    It is widely believed that city folk will have it a lot tougher time of it than country folk when TSHTF. But folk in the country are spread out thinner and so more vulnerable to well-armed assault. Forming a gang armed to the teeth in the city where there is a concentration of resources can easily create an amenable statelet the provided the gang is unscrupulous (is there any other kind?) in how they deal with the civilians.
    A gang of auto rifle wielding maniacs can take over a neighborhood and live like kings.

    The down side is that sooner or later order will be restored. But then again, maybe it won't. Maybe you will be a Napoleon and propel your gang into a higher status, eliminating or absorbing other gangs through the ferocity of your reputation or sheer firepower.

    Sooner or later, though, the odds are that you will be wiped out, either through intrigue or by being overwhelmed by a larger state. But them's the breaks.

    Anyhow, save up that gold and silver cuz when TSHTF, me and my homies are gonna be the first ones on the street in my neighborhood, rifles, grenades and nasty attitudes, mostly marginal intelligence and lack of empathy and when I turn'em loose they'll look a lot less favorable on them that didn't think to save up for the taxman. Everybody pays one way or the other.

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  7. The money never trickled down after the rich got the tax breaks and the burden of taxation shifted down to the middle class. Now the problems that this created are now trickling up at the same time the middle class is disappearing. The problem needs to be solved from the bottom up with large tax breaks to the lower incomes. Then these people can pay their bills and mortgages and stimulate the economy.

    The clowns in charge haven't a clue and only care about themselves.

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  8. 11:06, You moron, check the source, ask questions, don't be so gullible. You seem to believe everything YOU see. See how the merchant looks at you when you try to buy the things you will need to survive with a chunk of gold!!!

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  9. 1:04 I have been "checking" the source(s) since 1979. I bet you're in your mindless 20's-30's.

    I WILL see the merchant look at me when I come in with a piece of GOLD worth $3000 as his eyes bulge and his mouth waters. You can stand next to him with a barrel of paper..looking bewildered as you check your "source".

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  10. 1:04 I'm not a gold bug but I often kick my own ass for not getting in at gold at $267 an ounce a few years back...I do think gold is an illusion of wealth while silver is an actual usable/viable/valuable metal but so far it's been supressed waaaaaaaay below it's worth.

    True when SHTF gold won't be THAT valuable and how will you be able to buy anythng but large purchases? However in the end I see people needing to have some sort of money sytem and that's when gold and silver will zoom up...For it's recognition as a real monetary currency.

    I think gold and silver ae great hedges against inflation...NOT money makers...Or how about this 1:04...If you know what you know now say back in 2001 would you have rather been given $1000 cash or 2001 $1000 worth of gold?...Here's a tip: One has almost gone up 300% or more since then and the other has dropped to 66% of what it was worth then.

    No name calling please just give me some facts...And I'm not even a GoldBug!

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  11. According to von Grayerz, I have most of the assets listed as primary and secondary: land, potable water, etc. I'm also located over 40 miles from the nearest city and there's dozens of towns in between.

    After 12:45 takes over his neighborhood and quickly runs out of food and water, and maybe gasoline too, he and his gang will have to hike for days--and get blasted by every gun-toting property owner on his way to me. By the time what's left of his gang reaches my town, I should be able to pick off whomever is left with my semi-automatic rifles.

    I would not invest in gold; it's too expensive. I prefer silver. The best is jewelry; it's small and easily hidden. Trying to lug around a gold bar is ridiculous.

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  12. 3:31 I agree silver is a better deal than gold...but the statement "Trying to lug around a gold bar is ridiculous." is just that. Ridiculous. Try lugging a 1000 oz's of silver around. Now that's ridiculous. For weight purposes one would want a few OZ of gold rather than silver, unless the prices meet as some are stating.

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  13. 1:14 If you were to have purchased gold in 1981, how much would you have paid per oz? How much for silver? If you remember correctly, the Hunt Brothers? Any of this ring a bell? Prices were manipulated then and are be manipulated now. Most people like you believe everything that they see on TV. Remember: "There is no fool like an old fool."

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  14. The US will never return to a gold standard. I agree with much of this article, but returning to a gold standard, not going to happen.

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  15. Sharonsj - You own semi-automatic rifles?!! A gun-toting liberal? OMG, what's the world coming to?

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  16. There will be no gold standard, the standard will be the standard of no standard.

    A mix of 300 million people, partitioned by perhaps 20 distinguished "types" that are all intermingled without truncation along with a land opulent but uneven in technology is far too complex to conclude the outcome of a centralized crash.

    Prudent sensibilities will demand one cease the habit of occluding the whole picture with their fragmented, obfuscated concepts of which derive from the lessons of previous societies that have imploded. Our imminent doom is provisional, a transitory chaos. The new order will necessarily be cleansed of its impurities.

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  17. 5:27 Gold was $850 and Silver spiked to $50, I was there. The dollar went down 30% in buying power since then so I can bet everything evens out. I still have my 1919 Gold $20 liberty coin from 1979. (amongst many others) I bet you didn't save ONE NICKLE from that time. That makes me much richer than you...because its not over yet. Silver will surpass $50 whether you believe it or not. Note : I am a coin dealer since 1974

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  18. There does not have to be a gold-backed currency for gold to regain its throne. Read FOFOA and learn about FreeGold. The gold revaluation is coming.

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  19. 12:45 -

    Just keep flapping your lips clown, guys like you are generally some of the first KIA.

    Many of us have read "Art of War" and sadly had to apply it, you won't last.

    Everyone ignore that idiot.

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  20. 6:37 - There are some things more important than money. And, I don't think you possess them!!!
    Now go buy your oz. of gold.

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